A new crypto project known as Parody Coin is attracting attention in the crypto space and is expected to do well in the future.
In this article we will show you all you need to know about the new coin in town, Parody Coin as we will take you through the process of using it to earn more money.
Before its Initial DEX Offering (IDO) on PancakeSwap, a total of 300 million PARO tokens will be pre-mined. The PARO coin, which is now in phase 1 of its presale, has already sparked widespread interest in the crypto market. This is a great initiative that we encourage investors to exploit.
A good number of newcomers into the crypto business are not aware that cryptocurrencies also offer passive income potentials. The reason is that as crypto becomes more popular, it creates new opportunities for making money.
What is Parody Coin?
Parody Coin (PARO) aids the minting, selling, and buying of parodies of popular Non-Fungible Tokens (NFTs) such as CryptoPunk and Bored Apes.
The inventors will also benefit from a user-friendly operations provided by Parody Coin. It is a coin that runs on the Binance Smart Chain (BEP-20).
The Parody Coin network includes its own decentralized application (dApp) store quite recently. The long-term goal of the project is to enable third-party developers to build and launch apps inside the network.
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These dApps will provide a variety of services in order to aid the growth of the parody ecosystem such as giving support to the use of parody NFTs.
How Does Parody Coin Work?
The Parody Coin network is structured to incorporate the most beneficial features of the NFT markets. This means that users will be able to sell and purchase parody NFTs through the platform’s NFT Marketplace.
The primary objective of Parody Coin is to bridge the transaction gaps in the NFT market caused by excessive fees and prices and also to give operation opportunities that are not available in the existing NFT markets.
The Paroverse is invented as a feature intended to help in the establishment of NFTs that interact smoothly with the real world in order to satisfy the requirements of Metaverse development.
Can I make Gains with Parody Coin?
Yes. That is one of its uniqueness. Parody Coin’s main focus is to grant all users a diversity of passive income options.
For people that want to participate in the Parody ecosystem without minting and selling parody NFTs, Parody Coin permits three main revenue channels.
These channels are profiting via the paroflection mechanism or what is called token reflection mechanism, staking on the BNB chain, and earning through the ParoRewards scheme.
Through the ParoRewards program, Parody currency holders earn BEP20 tokens. The solution is designed to lend funds in exchange for a return on money markets via the BNB Chain network using compounding interest strategy.
PARO is a deflationary utility coin, meaning that the total number of coins in circulation does not increase over time, but rather decreases. This is because a part of the fees paid by users are robotically routed to a deflating wallet in which it is deleted with no re-circulation.
The goal behind passive income generation using cryptocurrencies is to earn money without the investor participating in the physical process. Investors can now put their tokens to work for them for as long as they like with the new crypto projects like Parody Coin (PARO).
How Parody Coin Give Passive Income
Parody Coin is building a unique financial domain that will not just be a meme token but rather to be driven by utility and provide a passive source of income to its users.
How it works, right? Parody Coin will provide an NFT marketplace and Metaverse for the benefit of its users. You can generate and mint an NFT that will be a parody version of a typical NFT. The owner can stake a claim by burning the original NFT. This operational interface is possible through the bridge function.
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The PARO token launches on PancakeSwap, but you should consider purchasing it beforehand as the price spikes suddenly after listing. Your hooking into the Parody Coin presale very early provides more probable rewards.
The Parody Coin will also share revenue with its holders as a form of incentive. It will reward all users by sharing the income generated from each transaction. Your overall coin assets will gradually increase and multiply your profits if you can hold it for a long term.
The duty to maintain liquidity pool lies with the reflection mechanism because a part of the operation tax goes toward retaining liquidity. The current NFT ecosystem has exempted regular retail participants because of the high gas fees and excessive prices of most NFTs.
Listing fees on major NFT exchanges are quite huge that ordinary retail clients cannot afford the listing process. The Parody Coin ecosystem will help in creating an NFT marketplace that targets even the average retail customer.
To make money from this coin you must be avid to research as cryptocurrencies are a volatile investment instrument. You should monitor the coin’s movement and performance in maintain good investment decision.
How Crypto Developed From Litecoin (LTC) To Parody Coin (PARO)?
Cryptocurrencies arrived at the financial market in 2009, with the take-off of Bitcoin.
With the subsequent arrival of thousands of different Cryptos globally, we have watched the market expanding daily and standing as one of the largest sectors of the global economy.
Litecoin (LTC) was launched in 2011 and is presently ranking 20th on Coinmarketcap but looking at the new coin currently in the presale stage, PARO is a notable instance of how crypto has evolved over time.
Parody Coin (PARO) is a great example of how much the crypto market has advanced. Being a meme coin with many features, Parody Coin is one of the evolving coins with a lot of potential extending from LTC with wonderful features.
Main Features of Parody Coin (PARO)
Currently in the presale stage, Parody Coin is unique from other projects in this phase. Three noticeable features make it stand out:
- Parody Swap allows users to swap any crypto within any blockchain to an equivalent amount of PARO coins. It is done easily with much flexibility.
- Parody Bridge is a bridge allowing users to transfer PARO coins to other blockchains.
- Parody Market is an NFT marketplace for Parody NFTs. Users can mint Parody tokens from other big blue-chip NFTs.
These 3 key features distinguish Parody Coin from other crypto projects in the market. With a clear plan for its users, they know how to entice users to help them benefit from their project.
By targeting users who are interested in NFTs as well as providing flexibility to its users by using multi-chain technology, Parody Coin is targeting a vast range of investors.
How Does Parody Coin Compare to ApeCoin (Ape)?
Bored Ape NFTs are among the list of popular NFTs that users can rely to build parodies on the Parody Coin app.
Bored Apes have sold for incredibly high prices before now and reaching millions of dollars as revenue. The push was recognized and applied by Yuga Labs to develop and launch new apps and its own Metaverse.
APE tokens were airdropped to Bored Apes holders and are now a native currency of the ApeCoin community members. Since its launch, ApeCoin has got the interests of investors.
ApeCoin’s feat is influenced by the Bored Apes NFTs and it is reasonable to suggest that Parody Coin is set to skyrocket as the ApeCoin will benefit from it.