Among the emerging meme coins winning the crypto space is FarmerDoge due to the outstanding model of operation it adopts. Here’s all you need to know about the meme-influenced unique crypto asset with a multi-currency feature – FarmerDoge coin.
Although the thousands of crypto assets in the world today are all designed basically as a digital representation of value, however, most of them differ in features as they often function for different purposes. FarmerDoge (CROP) is one of those unique cryptocurrencies that has been built with a design quite different from that of other crypto assets. Crypto enthusiasts often venture mostly into crypto projects which possess a friendly user interface. With lots of new tokens making their way into the crypto market, meme-influenced coins like Farmer Doge have been gaining traction massively as they often attract the attention of investors into venturing into them due to their nature.
FarmerDoge: The First Multi-Currency Rewards Token
FarmerDoge has emerged as the first crypto token that features the multi-currency concept with a primary focus to feed the world. It is a BEP-20 meme coin that operates a multi-currency reward system. The crypto community recognizes Farmer Doge as the cryptocurrency in the market that provides rewards in a multi-dividend system in the Binance Smart Chain (BSC).
History of FarmerDoge
FarmerDoge is a Dogecoin-influenced cryptocurrency that was founded in August of 2021. The project was initiated with the vision to facilitate and improve the charity system and the real-world utility of providing food to people who tend to be less fortunate.
FarmerDoge was initiated with plans to integrate with local farmers from different parts of the globe in a bid to acquire or receive donations of foods that are considered imperfect for supermarkets. After that, the team would then convey them to partnered restaurants to have fresh meals prepared to hand out to those in need and to bring to homeless shelters within the community.
The team behind the project is anonymous. However, it is known that its CEO has been immersed in the crypto space since 2008, investing in early coins and researching the dynamics each project could have as it gained more widespread adoption.
Key Features of FarmerDoge
Some of the key features of FarmerDoge (CROP) include the following;
- It features a multi-currency reward concept that allows users to farm any cryptocurrency within the Binance Smart Chain (BSC). It also features extreme compatibility with any token on the Binance Smart Chain, regardless of whether that is a top 50 cryptocurrency or a newly launched meme coin.
- FarmerDoge adopts a friendly community system as it seeks to curtail food and hunger issues faced by many people when buying fruits and vegetables from local farmers and donating them to charity.
- It features a unique yield farming system for users that allows them to use any BEP-20 token and not just its native token CROP.
FarmerDoge Tokenomics
FarmerDoge has a total supply of 10 billion CROP tokens in circulation. Meanwhile, 62% of its total supply was allocated to a private presale and sold in the event. Another 33% of the total supply was sold in the fair launch, while the remaining 5% of the total supply was distributed between the FarmerDoge developers.
Furthermore, the FarmerDoge coin operates as a deflationary token, where a 15% tax is imposed on each CROP transaction. However, 10% out of the 15% tax is distributed to reward other users while 3% is utilized for the purpose of marketing the project. The remaining 2% of the tax distribution is used to provide liquidity.
The price of FarmerDoge’s native token CROP is as volatile as the price of most crypto tokens in the crypto market.
Pros and Cons of FarmerDoge (CROP)
As unique and exceptional as the FarmerDoge is, the project also comes with a few disadvantages and advantages.
The pros are as follows:
- FarmerDoge utilizes the efficiency of its powered blockchain, Binance Smart Chain (BSC), to efficiently serve users.
- Its mission is to feed the world and reduce the rate of hunger among nations of the world.
- FarmerDoge saves users the stress and cost of conversion as it is compatible with any BEP-20 token.
- Transactions with FarmerDoge are cheaper and faster. Moreso, it allows users to enjoy a process of easy reward distribution via its automatic model. As such, users can receive rewards in their wallets without the need to claim them manually.
- FarmerDoge offers users higher rewards on occasions when the trading volume of the asset spikes.
Meanwhile, there are some risks to take into consideration:
- FarmerDoge is formed by an anonymous team that poses its users with risks of deficiency in the long run.
- It is highly volatile which makes its short-term investors vulnerable to losses especially when the market condition is not favorable.
Conclusion
Although FarmerDoge is still at its early stage, it promises numerous unique features which have the potential of making the Doge community an exciting space for its members.
FarmerDoge is seeking more developments and exposure it needs to climb the market-capitalization rankings and serve its users with more efficiency. Being the first of its kind with the lots of promising features it deploys, FarmerDoge proves to possess the potential it needs to push forth and surge upward in the near future.