The Value System of Parody Coin (PARO) On Binance Smart Chain (BNB)

Binance Smart Chain (BNB) is one of the best platforms to launch new projects because it provides the necessary support for transactions. The network almost escapes the scalability trilemma and allows platforms to be decentralised, scalable, and secure to the best of their capacity. However, the BNB chain is not a very popular chain for non-fungible tokens (NFTs). 

Current leading networks for NFTs include Ethereum (ETH), Solana (SOL), Polygon (MATIC), Avalanche (AVAX), etc., and these networks would get mentioned before Binance Smart Chain. Other notable mentions would include Near (NEAR), Cardano (ADA), and Zilliqa(ZIL). These are all emerging networks for NFTs, and you’d imagine why a new platform picked BNB.

Parody Coin (PARO) could still be considered a meme coin regardless of all the other utilities it offers its holders. The coin facilitates the minting, trading, and access to the utility of parodies of favorite NFTs on the BNB Chain and other blockchains. Because it’s easy to do all of this on BNB, users can quickly create parodies of popular NFT items and collections for memeing. 

Beyond online memes and other activities, the system also aims to imitate the real utility of these certain NFTs on the PARO ecosystem. This would be the go-to for people who cannot originally afford certain collections. The value system is in the community of PARO, and they seek to create an ecosystem where everything functions and plays out like its original version while also having so much fun at it.

How Does Parody Coin Work?

Parody Coin aims to build blockchain frameworks, commerce, NFTs, and Metaverse products cutting across chains to advance blockchain technology. However, these are more long-term, roadmap items deliverables. Nonetheless, the utility users get immediately, and that would promote the project further is the memes. 

Parody Coin would be supporting the meme culture by building a parody marketplace, a custom Metaverse called Paroverse, and other supported DApps. In addition, the network will facilitate DeFi, and staking options that help holders generate passive income.

However, Parody’s NFTs are the face of the project and would also be a source of financial value to holders of PARO. The Parody Coin ecosystem works like an app, complete with its own app store. The long-term objective is to enable third-party developers to create and deploy applications inside the ecosystem. 

These digital applications will provide various services, particularly those that aid in the minting, dealing, distribution and access to imitate other NFTs’ usefulness. The Paroverse will be a part of the ecosystem that will aid in developing NFTs that interact with the real world. It specifically addresses the Metaverse’s evolving demands and allows these NFTs to find use cases in the ecosystem.

PARO’s stage 2 presale is live, and it offers early adopters a great entry price into what could become a top gainer once the bull market resumes.

Improving the Value System

The PARO ecosystem offers its holders much more than Parody NFTs and their imitated utilities, it also provides holders with the means to earn passively via staking. The ParoRewards system hosts several structures across the ecosystem that give back to the coin holders. The network takes 10% royalty on transaction fees – 5% going back to holders, 3% to the liquidity pool, and 2% to the burn wallet. The ecosystem ensures multiple streams of royalties that include the NFT marketplace and D’apps, the ParoRewards system, staking, and the Paroreflection mechanism. 

72 billion PARO coins will be pre-mined before the Initial DEX Offering (IDO) on PancakeSwap. 70% of that is allocated to IDO, 7% belongs to the team, 3% to operational expenses, 5% to marketing, and 15% to community incentives and rewards. It’s a deflationary token, so supply is expected to decrease over time and cause an increase in token value.

PARO is one of the tokens to look forward to, as the team prioritizes value addition as a significant ecosystem component.

More on Parody Coin:

Presale: https://presale.parodycoin.io/register

Website: https://parodycoin.io/

Telegram: https://t.me/PARODYCOIN_OFFICIAL

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