Making the cryptocurrency industry more accessible and approachable is the next order of business for the ever-expanding crypto realm. With this being said, attracting mainstream consumers requires a streamlined and convenient experience, with assets that have numerous potential use cases.
The 100xCoin project aims to aid the rapid expansion of the Binance Smart Chain, promoting not only its own token but also other new crypto coins.
From humble meme-oriented beginnings
Although the 100xCoin project currently spans multiple services and products, that is not how it initially started. Similar to other currencies, 100xCoin was designed to serve meme-related purposes in the cryptocurrency world, without any particular use cases to benefit from.
Being a meme coin can bring value to a crypto asset, although the lack of use cases could prove problematic further down the line, which is exactly why 100xCoin is transcending beyond its initial purposes, providing holders with significant utility.
Founded by YouTube creator Ken “Ken the Crypto” Llamas, 100xCoin has turned a page with the help of a passionate community. The team is now focusing its attention on the mobile space, which may be the next frontier for broader cryptocurrency adoption.
Billions of people have access to a mobile device, making it an important market for any serious cryptocurrency and blockchain project on the market today.
The mobile approach aims to bring more people to the decentralized finance ecosystem. As an industry that spans over $75 billion in total value locked on the Ethereum blockchain alone, DeFi is a force to reckon with.
However, competing blockchains with DeFi-oriented approaches have sprung up in recent months, including the Binance Smart Chain. Providing broader and more convenient access to up-and-coming projects launching on this blockchain is of the utmost importance.
The growing appeal of Binance Smart Chain and PancakeSwap coins
Several reasons exist as to why decentralized finance on the Binance Smart Chain is gaining traction. Compared to Ethereum, it is a much faster and cheaper blockchain to use.
Transaction fees on the Ethereum blockchain often hit double digits, and paying upward of $30 is not an exception. It is an unfeasible system that needs to be upgraded. Until then, alternative ecosystems like BSC cater to the needs of users and developers alike.
Secondly, the BSC ecosystem benefits from the trust people put into the Binance brand in general. This marketing-by-association attracts many DeFi developers and yield farming enthusiasts looking to prioritize efficiency and accessibility.
Even then, many people are worried about approaching new ecosystems like BSC. The DeFi industry has seen its fair share of exit scams and rug pulls, making it challenging for investors to trust new solutions coming to market.
To remove some of these doubts, 100xCoin thoroughly vets every project it will provide exposure to through its platform. That means no decentralized finance projects will be included with anonymous founders or developers, as those are often best avoided.
The future outlook of 100xCoin
As mentioned earlier, the 100xCoin team is launching a mobile application called Altbase on May 30, 2021. It makes the buying process of this former meme coin 100xCoin asset straightforward with built-in credit and debit card support.
Providing this option cuts down the journey to venture into cryptocurrency down from an hour-long task to just a few minutes. By acquiring the token, users will immediately gain access to the growing 100xCoin ecosystem, but also Binance Smart Chain’s many benefits.
Of course, many of the emerging tokens are PancakeSwap coins, so it only makes sense that 100xCoin is available for purchase there as well, with sufficient liquidity to back the growing demand.
Further down the line, the team will introduce its 100xRocket crypto capital launchpad. This launchpad will provide 100xCoin holders with access and exposure to up-and-coming Binance Smart Chain projects after they go through a vetting process. A significant step in the right direction, as users often have to browse numerous launchpad platforms to find new crypto coins today.
Going one step further, the 100xCoin team wants to launch 100xCollabos, a celebrity NFT-oriented platform. As the project will provide athletes and celebrities with the opportunity to create NFTs, there are many opportunities to explore in the months to come.
The 100xCollabos platform will roll out in June 2021. There will be NFT staking functionality, and a series of signature artworks will drop on the platform later this year.
Keeping the meme coin momentum going
An ambitious plan like the one outlined above will require strong partnerships and collaborations. The 100xCoin team intends to work together with various influencers and other noteworthy individuals capable of bringing attention to Binance Smart Chain and its growing DeFi ecosystem backed by a plethora of new crypto coins.
One of the things setting this project apart in the DeFi space is its fully transparent team. Founded by Ken – the Crypto – Llamas, the project now spans over five team members whose profiles are accessible through the website.
Having an NFL and Pro Athlete Consultant onboard confirms the vision to roll out the NFT project with athletes and celebrities. Many people wonder “where can I buy NFT tokens?” 100xCoins holds the answer to that question.
Similar to other tokens on the market, 100xCoin maintains a burn-and-deflation approach. Every trade results in 3% of its value being burned to keep decreasing the circulating token supply and increase its potential value.
Furthermore, 100xCoin distinguishes itself from Safemoon and similar projects by sending generated funds to the pool none of the developers can access, an intriguing approach to keep things honest and transparent for this utility-backed meme coin.
The approach by the 100xCoin team is very ambitious, as there is a lot of competition in the DeFi space today. As Binance Smart Chain and PancakeSwap coins continue to gain traction, accessibility will become a pressing matter.
Onboarding cryptocurrency enthusiasts is one thing, but catering to those outside of the crypto industry is something else entirely. The mobile app-based approach can prove successful, as it facilitates the purchase of small-cap crypto assets and projects at an early stage.
Although there is a vision to explore the different market segments – decentralized finance, NFTs, and launchpad-related services – gaining traction in this industry never comes easy.
With the backing of a renowned YouTube influencer in ken Llamas, the future outlook for 100xCoin appears promising at first glance.
For a currency project with no use cases or appeal at first, the team has come a long way in turning the ship around, reshaping the utility framework for new crypto coins, but also for meme coins in general.