Community tokens are a new category of cryptocurrencies set to provide a better ecosystem for traders. These tokens, unlike other cryptocurrencies, do not focus on just an individual trader but on communities to enable activations or memberships that control access within that community. Community tokens are quite scarce, making them sort after in the Cryptocurrency market. Firepin (FRPN) is one of these tokens.
Firepin is a decentralized token that is maintained by an exuberant community. It is based on the $FRPN token, backed by the Metaverse DAO. It provides an environment for everyone to engage and interact with others or traders within its system.
Firepin token is a multichain technology that allows it to be used on multiple networks. Although this may allow its price to fluctuate from time to time, Firepin deploys a strategy to eliminate this issue. It employs the Algorithmic Reserve Currency Mechanism that is further backed by decentralized assets to stabilize any fluctuation in price.
As a DeFi coin, Firepin allows its members to swap cryptocurrencies with their equivalent other at the lowest possible cost. This aims to ensure its users can acquire whatever cryptocurrency they need at a particular point in time. Firepin seeks to achieve this by introducing a Swap Portal that gives its community members opportunities to purchase other cryptocurrencies.
Moreover, Firepin is set to storm the NFT marketplace. It provides an ecosystem to trade and swap NFTs that can further be fractionalized into child NFTs. Adopting the Proactive Market Maker algorithm, these child NFTs can also be swapped efficiently and easily with any desired wrapped tokens in the network. These child NFTs portray an evolved NFT generation in the Firepin metaverse.
In addition to the NFT marketplace, the Firepin metaverse provides an ecosystem to facilitate NFT Game Development where members can buy, sell and trade virtual assets in a 3D space. Gamers are kept in command and allowed a vote on upgrades or new developments within the ecosystem as Firepin operates under a DAO governance.
How Does Firepin Thrive Against XRP (Ripple) and Tron (TRX)?
Ripple (XRP) is a top Cryptocurrency token in the market today. It fosters the migration of transactions from Central databases controlled by centralized institutions, like banks and payment networks, to a more transparent infrastructure at a very low cost. These transactions are trustless, quick, and economical.
Tron (TRX), on the other hand, is a popular blockchain-based decentralized digital platform with its token, which is Tronix or TRX. It provides a system where creating decentralized applications and sharing media content is possible. It was invented for the main purpose of rewarding content creators for their efforts; thus, all credits are given to the creator rather than a large company.
These cryptocurrencies have their users in consideration for whatever purpose or feature they bring into the Cryptocurrency market. Firepin, as a community token, does it better. They reward their members or holders by gifting them an airdrop every week, which is an incentive for investing in their platform.
Also, Firepin strives to create an environment that is volatility limited by charging a 2% fee for every transaction made on the platform. In addition to volatility reduction, Firepin issues initial liquidity in the form of Liquidity tokens, thereby augmenting the stability of large-scale transactions.
Firepin provides a safe platform to stake coins. Rewards are also given by the number of coins a member stakes, which serves as criteria for users to validate transactions. You can also lend cryptocurrencies to people who need them at a particular time to earn interest.
Conclusion
Firepin is a token you shouldn’t miss out on, and it allows real-world applications through the swapping of NFTs. Members of Firepin also feel safe taking large-scale trades due to the strategy it utilizes to reduce volatility.
Join Presale: https://presale.firepin.io/register
Website: https://firepin.io/
Telegram: https://t.me/FIREPINOFFICIAL
Source: https://www.cryptonewsz.com/firepin-token-is-in-heights-competing-against-xrp-and-trx/