Individually, DeFi and NFTs have experienced unprecedented growth over the past few months. Since the start of this year, DeFi has already grown over 5 times in terms of total value locked, from $15 billion in January to approximately $77 billion by May. The NFT space, on the other hand, has undergone a 25x increase in trading volume this year alone.
While the two hottest trends in the cryptocurrency and blockchain world have individually taken the world by storm, the results of their synergy are limitless.
KokoSwap provides a one-stop shop for anyone interested in DeFi gaming and the NFT space. In essence, KokoSwap provides a decentralized platform for users to fulfill their NFT-related demands via trades and games while also experiencing the powers of DeFi via modern financial activities such as staking and swapping.
Even mundane activities such as trading and investing become fun on KokoSwap due to the gamification of user activities allowing them to play and win on the platform. In other words, KokoSwap allows users to earn high yields and grow their asset portfolio in a fun and sustainable way. Unlike other staking platforms which are highly volatile, KokoSwap provides a secured ecosystem and assured APY.
KoKoSwap accommodates such needs with the following features:
An in-depth understanding of how Koko facilitates such features is required to truly understand their unique approach. At the forefront is the KokoSwap ecosystem; this is like an umbrella under which all the other Koko features exist.
The ecosystem is run by KOKO, the native currency. The KOKO token can be used to perform any type of financial activity supported by the KokoSwap platform. For instance, the buying and selling of NFTs, staking to get the rewards, and other such functionalities can be completed using KOKO.
But the KOKO token has much more to offer.
KOKO also acts as a governance token. To make the platform truly decentralized, KokoSwap allows certain users to participate in the key decisions of the platform. These users are the ones that hold the KOKO token. Therefore, the ownership of the KOKO token, and the distribution of power to the community, allows KokoSwap to become an unbiased ecosystem with an advanced governance model.
With a single token acting as both the utility and the governance token for the platform, KokoSwap provides an easy-to-use environment for the users and keeps the complexities at the backend.
Addressing the current hype in the blockchain and cryptocurrency world, the first on the list is KokoAvatar – the NFT platform. This unique NFT platform is based on one of the most sustainable and interesting use cases of NFTs; role-playing games. Liquefying the gaming environment, KokoAvatar tokenizes the in-game assets of the MMORPG game. These include approximately 5000 accessories in the game, skins, and limited-edition merchandise. The limited merchandise can further be represented as rare collectibles.
Another prominent feature is KokoStake, the staking platform, enabling users to stake KOKO tokens and earn significant APY. To provide security for the borrowers as well as the lenders, Koko requires a minimum of 1 year for staking. The program, however, will run for a duration of 2 years.
KoKoSwap also allows the community to create their own multiplayer games on the platform and other users can play them.
KoKoSwap is not just another DeFi or NFT platform; rather, it is an ecosystem that aims to synergize both worlds. With the inclusion of games, rare in-game NFTs, and staking capabilities, KoKoSwap provides a comprehensive, sophisticated ecosystem for the modern user to leverage the core features of DeFi and NFTs, experiencing higher yields in a fun and interactive way.
Post source: The Evolution of DeFi and NFTs: KokoSwap