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LykaCoin is a multi-chain blockchain ecosystem similar to Polkadot and Avalanche but promising to be more competitive. Its goal is to add innovations, progressive views, and a different vision to the newly-built meta universe with the projects it will do and develop. Notably, it aims to attract them with zero gas fees and potentially unprecedented scalability.
This LykaCoin review looks closer at one of the fastest developing blockchain projects in the industry. Read on to discover its features, tokenomics, and roadmap!
LykaCoin plans to be a hyper competitive blockchain project addressing the current industry issues, such as expensive gas fees and slow transactions. The team believes that through innovation, progressive views, and a different vision, they can build a safe and lucrative meta universe where projects can develop.
The project has a similar ecosystem to blockchains like Avalanche and Polkadot. However, the developers have designed it with built-in compatibility with Ethereum and other networks. This way, the Lyka blockchain is able to support numerous project types, including Metaverse, Play-to-Earn, Walk-to-Earn, Staking Dapps, Launchpad, Web3.0, NFT Cards, Exchange, Yield, and Blockchain.
Nevertheless, LykaChain’s close to zero gas fees make it stand out from similar blockchain networks.
The team focuses on the holistic adoption of blockchain technology. Its motto is “to make cryptocurrency development services agile, efficient and cost-effective even for small-scale businesses.”
To this end, the Lyka services are affordable enough to help even the smallest companies develop sustainable projects. For instance, the platform uses “100% productive and feasible” techniques for the development of stablecoin projects. Other solutions include NFT Development, IDO development, Coin/token development, cryptocurrency exchange development, crypto wallet development, smart contract development, and cryptocurrency development.
Lyka Move-to-Earn proposes a health, fitness, and charity app enabling users to earn tokens while working out. In fact, they can convert their gains into money, and all they have to do is walk.
Fundamentally, Lyka’s Move-to-Earn is a step counter and distance tracker app. However, contrary to most workout applications, this one rewards users with a steady income for walking, running, and other indoor/outdoor workout activities. Later, they can withdraw their earnings or exchange them for NFT cards.
The project will enable users to earn tokens by engaging with its unique play-to-earn (P2E) games. For example, they can collect power-ups and boost their characters’ potential or even revive them. Alternatively, they can purchase a Metabox from the Lyka store, which comes with a random NFT from the project’s Metaverse collection.
Holding a Lyka NFT can provide users with multiple earning opportunities. For instance, every NFT has a unique rarity score and staking multiplier. So, the higher these metrics are, the greater the prizes users can access.
Lyka NFT Cards
Lyka will enable users to collect, trade, and store NFT cards, which are increasingly popular in decentralized networks. These assets can be in-game rewards or gains from third-party platforms and marketplaces. All in all, they provide a new ownership model with potential wealth-building opportunities.
Lyka defines itself as a Metaverse-centered project, exploring one of the most promising technological innovations. To this end, the team is building a virtual infrastructure, allowing users to stake their tokens in return for various perks, such as easy access to token launches. Other benefits may include staking payouts, Metaverse stake drops and buying or selling virtual land.
Lyka Staking dApp
This service works on an eco-friendly, proof-of-stake (PoS) platform. Users can stake their funds by leveraging effective security measures and providing a Secure Asset Fund for Users (SAFU).
The project’s staking method is safe, environmentally friendly, and allows users to earn a passive income simply by storing or locking funds in a wallet. The more individuals and institutional investors do this, the higher the rewards can be.
Lyka allows users to practice yield farming on its platform, which works by lending or staking cryptocurrency in exchange for interest and other rewards. Yield farmers can earn 48% APY for one year of staking their assets. Also, if they stake them for two years, they can get 60% APY.
Lastly, Lyka seeks to provide an affordable and fast blockchain solution. The team believes the blockchain users of tomorrow will look for zero gas fees before onboarding projects. Therefore, Lyka aims to be at the forefront of nearly free-to-use blockchain services. Soon, the team will discuss more of its upcoming products, including a launchpad, a swap feature, and a crypto exchange.
The LYKA Token
Fueling the Lyka ecosystem is the LYKA token, a BEP-20 token the team developed on the BNB Chain. Its goal is to provide utility in most of the project’s products and solutions. For instance, holders can make a profit while spending their time using Lyka services.
The total supply of LYKA tokens reaches 10,000,000 units, which the project distributes as follows:
- IDO Sale – 40%
- Staking Rewards – 25%
- Liquidity – 22%
- Ecosystem – 5%
- Airdrop – 4%
- Team – 4%
Soon, the team plans to list the LYKA token on prestigious exchanges and price aggregators, such as Vindax, CoinGecko, Coinmarketcap, and PancakeSwap.
According to the LykaCoin whitepaper, the project has four development phases. Currently, we are in the second stage. Here is a complete overview of its roadmap:
- Market research & Prototype design
- Project Conception
- Team Building
- Website Development
- LYKA Coin Development
- Staking Dapp live
- Lyka Swap live
- Pancake Swap Exchange listing
- Lyka Yield live
- Coinmarketcap listing
- Vindax Exchange Listing
- CoinGecko listing
- Lyka Move live
- Promotion and Marketing
- Lyka Play-to-Earn will go live
- Strategic Partnerships
- Lyka Test Net live
- Lyka NFT & Marketplace Live
- Launchpad Development
- Lyka Exchange Development
- Main Net live
- Lyka Verse Development
LykaCoin aims to become the go-to place for all blockchain-based services and products. For example, the team wishes to “fuel, refine, and accelerate projects built on the virtual platform” through its launchpad. Additionally, it should provide users affordable access to the future of blockchain and the Metaverse.
The project’s foray into play-to-move and play-to-earn applications should attract users seeking fun and community-building features. On the other hand, NFT cards and staking will lure in seasoned investors and collectors in the industry.
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