Is Parody Coin Capable of Becoming the Next Prominent Crypto Player Like Filecoin (FIL) and Maker (MKR)?
Over the years, there has been a steep rise in the invention of cryptocurrencies. If you’re going to invest your money, there are thousands of options, but only some protocols help you make it worthwhile. Otherwise, it plunges to an all-time low. Cryptocurrency’s volatility can’t be taken for granted. If there’s a potential to make you a millionaire overnight, so is its power to bring you an inch close to declaring bankruptcy.
That’s the prime reason that one got to be aware of the nascent market where the coin is just in its infant stage, and the probability of the coin surging in price is relatively higher than the coins already established. We’re always on the hunt to look out for these coins around the corner to join the market, or the other way, in their presale stage. So, we can let our audience know about the viability of such tokens and where they would stand in a few years. Today, we have got the token and meme coin called Parody Coin (PARO)!
Let’s unfold the layers around Parody Coin (PARO) and see what it’s there for us to leverage.
Parody Coin (PARO) – Deflationary Token
A deflationary meme token – this is how it’s defined. But it isn’t merely a meme token, like a usual one that generally takes off if it gets lucky and fades out of the scene with time. We’ve observed this trend in meme coins because the social media hype blows life into its soul.
In Parody’s (PARO) case, it’s YES, a meme token, but it does have additional benefits, making it more of a utility token, coupled with the meme label. The good thing about Parody Coin is that the investors earn rewards for the money they put into the system. Parody (PARO) has religiously taken utility into account, which means they’ve added multiple features, including a swap, inter-chain transfers, and an NFT marketplace.
Ease of doing business is what leads to the adoption of any cryptocurrency. Here at Parody, they’ve installed a feature to swap any cryptocurrency with the PARO tokens, allowing users to not worry about the swap or exchange. Tokens are only useful if they’re transferable and can be sent over to other blockchains. Often, the investors are supposed to make a transaction to another chain – this particular feature gets it done.
NFTs are a new norm, and only in 2022 – in these first six months- NFTs have observed circulation of 10 billion USD. Seeing this trend, Parody (PARO) has introduced an NFT marketplace where the investors could both mint their NFTs and later sell them and trade NFTs to earn profits out of this income stream. Let’s now jump on to the other two emerging technologies in cryptocurrency.
Parody Coin (PARO) Vs FileCoin (FIL)
First, the price would be a massive difference between Parody Coin (PARO) and FileCoin (FIL). The reason is that the Parody (PARO) is a meme coin, and these tokens hardly make it to 1 USD because their total supply is way above the threshold set by other cryptocurrencies in general. ProtocolLabs launched this cryptocurrency, and the purpose behind FileCoin (FIL) is to serve as a decentralized storage network, unlike Parody (PARO).
Parody Coin (PARO) Vs Maker (MKR)
Maker (MKR), again, price-wise stands at extreme north when compared with Parody Coin (PARO), it’s above 1000 USD, which in line with it is a considerable number. Another significant difference is that Maker (MKR) is an Ethereum-based DAO – a decentralized application that allows stakeholders to drive the decisions independently, without having to entertain any intervention from any party, not directly a stakeholder.
Parody is not a typical meme token, but it does encompass all the traits of other cryptocurrencies. The utility of any coin is a major driver of its age, and this aspect has exceptionally been justified with Parody Coin. PARO should be your first choice if you’re looking to invest in an upcoming coin!
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