LunaChow — A Community-Driven Decentralized Protocol
Many cryptocurrency platforms claim to be decentralized, but on close scrutiny, they don’t posses any decentralized feature. This tends to trigger questions on the authenticity of supposedly decentralized platforms if they cannot be used to cut out the intermediaries.
Worthy of mention is that the cryptocurrency market is an ecosystem for different kinds of projects, including the supposedly good ones. It is in the best interests of prospective investors to evaluate the claims or supposed working models of those projects to be sure they are worth the investment.
Today, I bring you good tidings. It is the tidings of a cryptocurrency project that could become an epitome of decentralization. In this article, you will learn more about the project called LunaChow and why it could be worth investing into.
What is LunaChow?
LunaChow is a community-driven decentralized protocol that runs on both the Ethereum and Binance Smart Chain networks. The choice for hybrid blockchain network is well-informed and you will discover why in the latter part of this article.
The LunaChow team claims that this is one of the leading Ethereum ERC20 token standard tokens that are both decentralized and deflationary. LunaChow is said to have an “aggressive burn structure” that enables the steady, but flexible reduction of the units of the tokens in circulation.
According to the information at the time of writing, the LunaChow team is looking to burn up to 90% of the total token supply. With barely 20% in circulation, it is not out of place to say that the demands would be high.
Following the principle of demand and supply, limited units of the token would make it easier to attract lots of investors and as more funds are pumped into its market, the value/price of the token would rally to the upside.
LunaChow borrows a leaf from the success of the Dogecoin cryptocurrency project and even that of Shiba Inu. These dog-named cryptocurrencies have not only made huge profits for the early-stage investors, but also become a source of inspiration for up and coming projects.
The team pioneering LunaChow has taken note of those factors and is poised to do something better with LunaChow. These are the core values of this project:
The team believes that strategic collaborations is one of the major ways to drive adoption of the LunaChow token. Besides, the project needs to inspire the target audience with the mission and once the audience buys into that idea; it would be easier to adopt the native token.
The collaboration would start with the establishment of a Decentralized Autonomous Organization (DAO) ecosystem to oversee the empowerment of the token holders to be a part of the decision-making of the project.
The LunaChow project promises to be open about most of the activities going on in thee ecosystem. As a community-driven project, it would be including the token holders/community members in important decision-formulating processes.
The team is also committed to make this project a success. Already, plans are in place to solidify its hybrid blockchain framework that allows LunaChow to operate on the Ethereum blockchain, as well as use the Binance Smart Chain as a fractional bridge for its listing and enablement of token trading on the PancakeSwap platform.
By and large, LunaChow is working assiduously to make cryptocurrency investments open and inclusive. The success of this project could give glimmers of hope and in a couple of months, we could see more community-driven projects springing up from the nooks and crannies of the cryptocurrency ecosystem.
Note: This article is A sponsored article written for a bounty reward.”
For more details visit their official listed sites below