Lykacoin - A Blockchain System Launching a Comprehensive Ecosystem
Cryptocurrencies are revolutionizing the world as we know it. With the rise of Bitcoin came a new way of thinking about money and how you may use it. One no longer needs to rely on centralized institutions like banks to hold, manage, and trade value.
Instead, with cryptocurrency projects with a comprehensive ecosystem, users can perform all these functions on their peer-to-peer network.
LykaCoin is one of these projects, and in this review, we will discuss its various features. Furthermore, we will explain why having a comprehensive ecosystem is crucial for blockchain projects.
About LykaCoin
LykaCoin is a blockchain system that is launching a large crypto ecosystem. The token is reliable and supported by projects like Metaverse, NFT cards, Play to Earn, Walk to Earn, and staking.
The team aims to add innovative views and a different vision to the blockchain industry. The process of launching LykaCoin started in 2020 and relied on the BNB Chain technology.
Move-to-earn
If you're looking for an easy way to get healthy and help your community, Lyka may appeal to you. This innovative app enables you to track your steps and convert them into money for charity.
It's a simple, efficient way to stay fit and give back simultaneously. Plus, you can use your tokens to purchase NFT cards or even convert them into cryptocurrency for your wallet.
Metaverse
As the virtual reality world continues to grow, so does the need for a solid infrastructure to support it. Lyka wants to fill that need by providing you with the tools you need to create and maintain that infrastructure.
By staking your tokens, you'll gain access to a tier and the associated privileges. Among these, we can mention new token launches and large staking payouts. Furthermore, we should not forget to include the opportunity to participate in a first-of-its-kind Metaverse stake drop.
Staking
Crypto staking is gaining popularity because it can earn money by keeping your crypto coins in a specific wallet. When you stake your coins, you provide security for the network and receive crypto rewards.
This is a way to earn passive income, and it lets you support the network that you believe in. Many staking programs are available, and you can choose the one that best suits your needs.
Lyka staking is a dapp that uses eco-friendly methods to secure users' funds. By leveraging effective security measures and providing SAFU, Lyka staking ensures users' funds are safe.
More individuals, including institutional investors, understand the crypto market's lucrativeness. This feature makes Lyka staking an even more practical option for those lacking technical knowledge of cryptocurrencies.
NFT Cards
Online gaming has come a long way since the days of simple two-dimensional games played on a desktop computer. With the advent of 3D graphics and multiplayer capabilities, online gaming has become more immersive and complex.
This industry offers players an experience that can rival real-world interactions.
In recent years, game developers have taken advantage of blockchain technology to create even more innovative gaming experiences. Lyka, for example, is using blockchain technology to create NFT cards that can be traded and stored on decentralized networks.
This opens up a new world of possibilities for online gamers and collectors.
Play-to-earn
In today's digital world, there are many ways to earn money. One of the newer and more innovative methods is blockchain gaming. Lyka hopes to capitalize on this trend by allowing gamers to earn tokens through participation in their play-to-learn games.
These tokens can help you purchase items in the Lyka store, such as a Metabox. You will get a random NFT from this project's exclusive Metaverse collection.
Each NFT in this collection has its rarity and staking multiplier. Consequently, the system manages to determine the value of the prize you may win.
Yield Farming
Cryptocurrency yield farming is the process of lending or staking your coins to receive a return on investment. This is possible through various methods, but all generally fall into two categories: proof-of-stake (POS) and proof-of-work (POW).
With POS systems, holders get rewards as new coins for locking up their holdings for a predetermined period. In POW systems, miners obtain rewards as new coins for verifying transactions and adding them to the blockchain.
In both cases, the farmer makes a considerable profit if they lend at high enough rates. For example, LykaCoin promises that, in 1 year, you get 48% APY. As the team mentioned, this percentage can hit 60% over two years.
Crypto Swap
With crypto swapping on Lyka, you can trade coins even if a pair is not live on the spot market. This can be a great way to avoid paying transaction fees more than once.
Crypto Launchpad
Cryptocurrencies and blockchain technology have taken the world by storm over the past few years. This new digital asset has revolutionized how people view and use money. It is no surprise that more and more people are investing in this new technology daily.
A product that is looking to capitalize on this trend is Lyka Launchpad. This platform hosts various crypto and blockchain-based projects to raise sufficient capital for said projects. In addition, it offers early access benefits to investors like token sales with reduced prices.
Crypto Exchange
As a trader, speed is of the essence. You need to know how to make decisions quickly and efficiently to capitalize on market opportunities. With Lyka Exchange, you can do just that.
The founders promise you will be able to follow the market straightforwardly thanks to this platform.
An Ambitious Blockchain System
The Lyka Chain is a blockchain project aiming to revolutionize the current blockchain space. It came to life to address the problems of expensive gas fees and slow transactions.
The team behind Lyka Chain has ensured that the blockchain charges a low transaction fee. In the founders’ plans, this feature will make Lyka one of the most efficient blockchains in the market.
The Project's Tokenomics
The $LYKA token, which leverages the BEP-20 technology, has a supply of 10 million coins. The team expects to allocate this supply as follows:
- IDO sale: 40%
- Staking rewards: 25%
- Liquidity: 22%
- Ecosystem: 5%
- Airdrop: 4%
- Team: 4%
A Look at LykaCoin's Roadmap
When it comes to the cryptocurrency market, having a roadmap is essential. A roadmap spells out a company's business goals and objectives, as well as the steps needed to achieve them.
Without a roadmap, it can be challenging to make informed decisions about where a business should go.
That’s why companies that are serious about their crypto ventures should have a clear and concise roadmap. We will detail Lyka's roadmap in the following subsections.
Phase 1
The first phase of Lyka's roadmap included several preliminary project development operations. These milestones are essential for laying the groundwork for a successful cryptocurrency launch.
Market research aimed to ensure that there is a demand for Lyka coin and that the project is feasible. Prototype design allowed the team to test the coin's functionality before launch. Team building ensured that there was a strong, cohesive team in place to drive the project forward.
Developing a whitepaper was also essential, as it provided a clear and concise overview of the project for potential investors. Finally, the development of the Lyka coin itself was crucial in ensuring that the currency would be ready for launch.
Phase 2
The second phase of Lyka's roadmap aims to develop the staking and swap applications and increase the project's visibility. The staking application will allow users to earn rewards for holding Lyka. Moreover, the swap application will let users exchange Lyka for other cryptocurrencies.
The listings on Coingecko and Coinmarketcap will increase exposure to the project. Finally, the BITMART and LBANK exchange listing will provide another avenue for users to trade Lyka.
Phase 3
The Lyka roadmap enters its third phase by introducing the Lyka Move product. Furthermore, the market will witness the launch of the Lyka Play-to-Earn feature. This allows users to earn rewards by playing games or engaging in other activities. The Lyka Test Net will also go live, allowing users to test the platform's features before its full release.
Phase 4
The fourth phase of Lyka's roadmap is all about development-related milestones. In this phase, Lyka will launch the Lyka Launchpad, develop the Lyka Exchange, and launch the Lyka Main Net.
Additionally, the Metaverse development will continue to create a more versatile and engaging blockchain platform.
Final Thoughts
Lyka is a promising cryptocurrency project with a clear roadmap in place. The development team has been hard at work ensuring that the currency is ready for launch. At this point, they have several exciting features in store for users.
The project will debut on the market through a fair launch on PinkSale. The round will officially open on August 10th.
Our readers may visit the Lyka website to learn more about the project and how they can get involved.
