More projects are joining Binance Smart Chain (BSC) as the latter is stamping its authority in supporting more user-focused applications and projects. STONKS Protocol, an investment platform aiming to provide a hedge fund-like service in the cryptocurrency world, is the latest project to be hosted on BSC.
You can now use your STONKS tokens on BSC and Pancakeswap after the launch of STONKS liquidity pool on the platform. The team chose to use Pancakeswap, the exceptionally fast-growing DEX/AMM running on BSC, to allow more interested people to access STONKS tokens.
The integration allows users of BSC to use STONKs tokens, with Binance supercharging the growth of the BSC ecosystem to expand its user base. In this article, we review STONKS Protocol and STONKS token and see how it’s likely to contribute to finance & investment sector.
About STONKS Protocol
The goal of the STONK Protocol is to revolutionize the world of investments, applying the principle of traditional hedge funds but in a decentralized way. With STONK, people will find concrete altcoin projects to invest in.
STONKS is promising to make the world of cryptocurrency a viable investment vehicle rather than for speculation. The diversified approach to altcoins will also pave way for institutional investors by minimizing investment risks.
You can think of STONKS as the first-ever decentralized investment fund to allow users to trade multiple altcoins. To know how to buy, check out their website https://www.stonksprotocol.com/
STONKS token (STON)
The STONKS Tokens (STON) are in limited supply, capped at only 1,000,000 in circulation. While 90% of the tokens will be available for the public, 10% is set aside for the team portfolio to fund development projects. Holders of STON will have priority access to every information from the team, and development progress. The current market cap is around $30,000 and early holders have already achieved x20 of their initial investment.
Listing of STONKS token on small and medium Centralized Exchanges is planned to take place at the end of this quarter. Furthermore, team expects to reach the minimum requirements to hit the market on major exchanges such as Binance, Kraken, and Crypto.com by the end of Q3/2021. At the same period, the STONKS project is being established as a legal entity in the UK and is expecting to expand the team by 50%, including welcoming more developers and partners.
More cutting edge features
The STONKS Project team is also working on a cutting-edge app that will ensure users can exchange fiat currencies and other major cryptocurrencies such as BTC and ETH for STONKS tokens. They are planning to make the app available for free on the Play Store and App Store for free downloads.
Other than ensuring the app is easy to use, the app will also attract no trading fees and reward the holders giving them the opportunity to gain early access to the Altcoins investment fund which will open by the end of 2022.
Conclusion
One of the most challenging things about investing in altcoins is selecting the project to invest in. STONKS project is aiming to overcome this challenge as are working to ensure you’re able to invest in any altcoin of choice.
While the name may give the impression that STONKS is another meme-inspired token like Dogecoin, it’s far much different as it aimed at decentralizing investing in a wide range of altcoins under one platform.
From STONKS protocol, one can invest in major cryptocurrencies and expand their portfolio as they wish, just like they do with traditional stock markets. Check out their whitepaper for more.
Anthony Young
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