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HomeCOINSWhat Is Damn Token (DAMN)? Complete Guide Review About...

What Is Damn Token (DAMN)? Complete Guide Review About Damn Token.

What Is Damn Token (DAMN)?

Damn Token traditional financial systems are centralized and require the participation of intermediaries like commercial banks. DeFi, however, uses open-source software and distributed networks, transforming traditional financial products into transparent financial agreements which require no intermediaries. All transactions are transparent and open, which can avoid risks in traditional finance that are prone to problems such as fraud and forgery. Thus effectively guarantees the transparency and reliability of financial activities.

Currently, DeFi has been implemented in a wide range of scenarios including lending, Damn Token and many other derivatives. DeFi has seen explosive growth in 2021, according to DeFiPulse, as of May 13th, the Total Value Locked of all DeFi projects using Ethereum and ERC-20 smart contracts was $78.454 billion.

It is a nearly fourfold increase from $15.811 billion in early 2021 and a nearly 115-times increase from $677 million in early 2020. With continuous innovation in its field and the development of blockchain technology, Damn Token is gradually building its own unique ecosystem, bringing new possibilities to the development of the financial system.

Damn Token Storage Key Points

Coin BasicInformation
Coin NameDamn Token
Short NameDAMN
Circulating SupplyN/A
Total Supply99,665,000,000
Source CodeClick Here To View Source Code
ExplorersClick Here To View Explorers
Twitter PageClick Here To Visit Twitter Group
WhitepaperClick Here To View
Support24/7
Official Project WebsiteClick Here To Visit Project Website

Features of DAMN

DeFi+AI+Mobile+NFT (DAMN) is an evolution of blockchain products in the mobile era. With keen insight gained from years of industry experience and AI algorithms, Damn Token is able to identify and help users to choose high quality blockchain projects, maximizing users’ DeFi+NFT portfolio returns through an AI-based investing strategies, and minimizing losses in the process.

Tokens

Damn Token will offer a total of 100 billion tokens initially for platform governance.The token will be distributed over 5 years.(40% for the first year, 20% for the second, 15% for the third, 11.5% for the fifth year.)The 40% distributed in the first year will be used for: Ecosystem constructing 45% (Community contributors: 30%, Content co-creator: 25%, Ecosystem incubation: 25%, Event bonus: 10%, Airdrop: 10%),Liquidity mining: 35%,Project,Partners: 12%,Team: 8%.

The Pitfall of DeFi’s Growth

Yes, most of this can be called gambling. But even gamblers can sometimes score a jackpot. And since “adding liquidity” is done entirely on-chain, and everything is available to be audited by everyone, so it cannot be abused by centralized exchanges. So, this basically means unless there are institutions pouring money into a certain project you invested, you’ll probably never see those returns if you don’t know when to pull out your funds.

And that, is what happened in the Damn Token phase last year. There are countless projects gone forever, what survived, is those projects who are favored by the capital. So if you are going to take on this “DeFi train”, you have to make sure the project you follow and invest is supported by strong hands.

What are DeFi Yield Aggregators?

The significance of DeFi aggregators is threefold; To reduce user operations, to reduce user fees, and to increase user revenue. The real concern for funding is not the lending, Damn Token or derivatives product itself, but the returns. The aggregator itself does not provide lending functions, but its smart contract can be connected to other lending projects.

When they deposit your digital assets into the aggregator, the aggregator’s smart contract will automatically look for the one with the highest return among the various lending agreements and transfer the assets over to provide lending funds and gain revenue.

Advantages

Users won’t have to create investment strategies by themselves, but can use other people’s workflow. Damn Token shifting their investment strategy from active to passive. Since cross chain trading and the transfer of the funds are performed automatically by smart contracts, so users won’t be needing to move their funds manually. Invested funds will all be stored in the contract. Thus reducing the number of interactions and lowering interaction costs. Also leading to less transaction fees (gas).

Risks

In the case of high utilization (high borrowing/funding ratios), when many lenders draw lines at the same time, some of them may have to wait for some borrowers to repay their outstanding loans. This is called “liquidity risk”. Also, Damn Token exists when the value of collateral falls below a pre-determined liquidation threshold when funds are borrowed. Since “yield farming” strategies are often built on top of each other, like a series of Lego blocks.

Damn Token creates numerous technical and economic vulnerabilities provide attractive opportunities for malicious hackers to exploit. The returns of a strategy are usually determined by various factors, and for some strategies, this results in erratic annualized returns.

DAMN Ecosystem

Based on the wallet with multi-chain support, Damn Token connects all assets. DAMN’s mobile application ecosystem provides entrances to dApps recommended by the distribution engine powered by big data mining and AI algorithm. And adjust farming revenue based on users’ rating, usage frequency, APY, TVL of the dApp, forming a healthy competition of applications within the ecosystem.

At the same time, aggregation strategy contracts are provided to offer liquidity for each application. In addition to the application perspective, contents with good NFT liquidity will also be added into the Damn Token ecosystem. DAMN is will be monitoring and discovering the projects with the highest TVL and activeness, generating aggregation mining revenue for project parties and users, helping them to invest with ease.

Nile
Nile
Nile Is Very Old Author At Wootfi Blog . We Loves To Write About Altcoin , ICO & Defi . In Free Time He Loves To Play Football .