Parody Coin (PARO) launches presale amid high expectations

YEREVAN (CoinChapter.com) – Parody Coin (PARO) is the new talk of the town in the cryptocurrency space. The latest deflationary utility token built on the BNB Smart Chain has created a buzz among investors. To some, it is the next big meme coin that can replicate the massive returns of Dogecoin (DOGE) and Shiba Inu (SHIB). To others, however, it is beyond a meme coin. Despite its name, investors look at PARO token as a stable investment.

Currently, in its presale phase, PARO promises to provide multiple ways for investors to have passive income. It plans to charge a 10% tax on each transaction in the ecosystem. Out of the said amount, the ledger will distribute 5% to PARO coin holders. An additional 3% will to the liquidity pool, while the remaining 2% will go to the burn wallet. According to the official presale website, the current PARO coin price is $0.002 per token.

However, early investors hope the token’s price will increase following its public launch, giving them potentially high returns. 

With an ambitious plan to create an impact, the Parody Coin Ecosystem will also comprise an NFT Marketplace, a Metaverse, and a Decentralized Application (DApp) Store.

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Parody Coin (PARO) has an NFT marketplace and Metaverse plans

The team behind Parody Coin (PARO) intends to build an NFT marketplace for the mint and trade of parody NFTs. Worried by the elitism and exclusivity of the NFT world, Parody coin wants to make NFTs accessible and affordable for everyone. The team provides people to create parody collections of popular NFT projects, such as Bored Ape Yacht Club (BAYC) and Doodles. They can then sell these NFTs to generate income.

Users will purchase these NFTs using their PARO coins. In addition, the team is also working on the launch of a Metaverse. Dubbed the Paroverse, it hopes to help accommodate the emergence of NFTs that interact with the real world. 

“In particular, it (Paroverse) meets the needs of the metaverse evolution. The Paroverse creates the ability to generate and interact with virtual worlds that are interfaceable with the real world through NFT parodies and other decentralized applications,”  

the Parody Coin whitepaper claims.

In addition, the network will also have an in-house token swap mechanism. The Parody Bridge will allow holders to swap or transfer PARO between other blockchain networks. According to the team, the Parody Bridge will use the Chainlink oracle network to set market-sensitive exchange rates. 

PARO will also be available on PancakeSwap. However, people will pre-mine 300 million PARO coins before the Initial DEX Offering (IDO). With less than three days to go until the end of Phase 1, Parody Coin could be the next big thing in the crypto space. However, some have already come out to warn that it could be a scam. Time will show if the PARO token will live up to investors’ expectations.