Key Takeaways:
- Firepin Token (FRPN) has rallied 3000% in its presale stage
- The project plans to get into Metaverse, NFTs and play to earn (P2E) games
YEREVAN (CoinChapter.com)- As the wider crypto market grills under bearish sentiments, one upcoming crypto seems to be gaining support. In particular, FIREPIN Token (FRPN), has registered a massive price rally. Currently, in Phase 3 of its pre-sale, FRPN has already rallied 3000% in its price.
The impressive performance at this stage has investors wondering if it will replicate the successful surge of meme coins like Dogecoin (DOGE), and Shiba Inu (SHIB).
As CoinChapter earlier reported, the presale for Firepin Token (FRPN) began in mid-February amid high expectations. Since then, it has already provided gains to early investors, although they cannot trade the tokens yet. In its current phase, Firepin Token FRPN price is $0.0027017556 per token.
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What is the Firepin Token (FRPN)?
Firepin Token (FRPN) is a new crypto project on the Binance Smart Chain (BSC) network. It intends to be a community-driven Decentralized Autonomous Organisation (DAO) by 2023. According to its whitepaper, the blockchain will use the Algorithm Reserve Currency mechanism. This is done to ensure its price stability. As the founders claim, the native token FRPN will also “be backed by additional decentralized assets”.
One unique selling point (USP) of the project is that it plans to connect (bridge) five leading blockchains, namely Binance Smart Chain (BNB), Ethereum (ETH), and Avalanche (AVAX), Polygon (MATIC), and Solana (SOL).
Should the project succeed, it will allow users to make transactions in a much quicker and cost-effective manner. In addition, the project will also have an airdrop pool. Out of each transaction (buy and sell), the smart contract will deduct a 2% fee to add to the pool. Every week, existing token holders will receive an airdrop of new tokens, which they can trade on the network immediately.
Moreover, Firepin Token holders can also earn through staking and Firepin Yield Farming. Since the blockchain hosting FRPN works on a proof-of-stake (POS) network, holders can stake their coins to validate network transactions and earn rewards. Through Firepin Yield Farming, holders can lend cryptos to earn interest and fees.
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FRPN comes with a Metaverse, P2E gaming, and NFTs
In addition to earning rewards by holding FRPN tokens, the project has major plans ahead. As their roadmap and whitepaper suggest, the team will also launch an NFT ecosystem.
“When you add an NFT to the Firepin platform, the NFT Vault will produce a token address for you based on the network you’re using (Ethereum ERC-20, BEP-20 or Polygon ERC-20). Community members will be able to subdivide their Firepin NFT into child NFTs that represent a new evolved NFT generation in the Firepin Metaverse,”
the whitepaper claims.
Collectors can then use Firepin’s Proactive Market Maker (PMM) algorithm to create a flexible and efficient market to exchange the new ‘children’ NFTs. In addition, the Firepin Token ecosystem will have on-chain Metaverse and Play to Earn (P2E) games. FRPN token holders can vote to change games or upgrade them.
With the project already registering massive growth, it may well become the next big altcoin. Who knows? Time will tell.
