.png){kind=logo}
A new ecosystem has doubled the total volume locked in Dogechain on its first day of launch.
Dogechain is a smart contract platform for Dogecoin (DOGE) which lets holders interact with dApps and DeFi on a DOGE-enabled platform.
The platform is supposed to build an ecosystem for Dogecoin – but now crypto newcomer Lucro has doubled its volume as it creates a new crypto ecosystem unlike any other. Lucro is the native token of the EverGrow ecosystem, which self-generates rewards.
Wouldn't that be something?
A crypto ecosystem that helps you earn passive income in stablecoins?
With social media apps that help you get paid in crypto, and a low-cost NFT marketplace that helps you list and market your work?
Below, we'll take a look at what you need to know about Lucro.
Lucro launched on September 15th. It hit a daily trading volume over $10 million – which is double the total locked volume in Dogechain (around $5-6 million).
Dogechain is more a separate token to Dogecoin than a layer-2 solution or native ecosystem. You need to use wrapped DOGE (wDOGE) to use Dogechain, and you can withdraw your wDOGE for DOGE at any moment.
DOGE is effectively the native token for an ecosystem designed to bring more volume.
In that Sense, Lucro has made a headstart.
The Lucro token will become a fundamental coin in the EverGrow ecosystem.
To understand its role, you need to understand EverGrow.
EverGrow is a BNB Chain token which charges a 14% transaction tax – 8% is sent as BUSD rewards to all holders, 2% is for buyback and burn, 2% is for liquidity and 2% is for development.
To date, EverGrow has burned 53% of the initial supply and paid $38 million in BUSD rewards.
But EverGrow is not a good ecosystem token due to the tax.
Instead, Lucro plays this role. There's still a 1% tax with 0.8% set for buying back EverGrow and burning it, and 0.2% for development. But it will be much easier to buy and sell Lucro than EverGrow with the higher tax.
Lucro will be used on the LunaSky NFT marketplace, which EverGrow launched on September 26th.
Lucro will also be used in the Crator content subscription app and in The Abstract metaverse – the world's first metaverse gaming arcade streamed on the cloud. These applications will create a use case for Lucro, with all revenue going 100% to buyback EverGrow and burn it from supply (with 8% of buyback and burn still going to BUSD rewards).
This is how EverGrow aims to build an ecosystem from which 100% of the profits are used to favour all investors.
FIND OUT MORE
EverGrow website: https://evergrowegc.com/
Lucro token website: https://lucrotoken.com/
EverGrow Twitter: https://twitter.com/evergrowcoinEGC
Lucro Twitter: https://twitter.com/lucrotoken
Join our WhatsApp Channel to get the latest news, exclusives and videos on WhatsApp
_____________
Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
