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HomeCOINSWhat Is Parrot Egg (1PEGG)? Complete Guide Review About...

What Is Parrot Egg (1PEGG)? Complete Guide Review About Parrot Egg.

What Is Parrot Egg (1PEGG)?

After 3 successful launches on Arbitrum, IoTeX and Polygon, Parrot Defi leads a strong community and has acquired an honest and professional reputation. These facts encouraged the team to keep expanding, this time on Harmony, an open and fast blockchain. The main net runs Ethereum apps with 2-second transaction finality and 1000 times lower fees. Before starting out developing, they spent couple of years farming as users. Here Parrot Egg share with you what your strategy was, back in the days. If you have any doubt, contact us on Telegram and give you a hand.

Parrot Egg Storage Key Points

Coin BasicInformation
Coin NameParrot Egg
Short Name1PEGG
Circulating Supply40,000.00 1PEGG
Total Supply80,000
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

NFT’s Platform

Parrot Defi proudly presents your own brand new Parrot Egg collection on Harmony One. Welcome to a bad-ass collection of unique parrots, delightfully crafted for your incredible community. Join the turbocharged NFT experience, and become the proud owner of the very first NFT collection made in Parrot Defi.

The very first DeFi project on Harmony

Euphoria is an algorithmic reserve currency protocol on Harmony based on the Parrot Egg token. Each WAGMI is backed by a basket of assets (DAI, UST, etc) in the Euphoria Treasury, giving it an intrinsic value that cannot fall below.

Apes together strong, community-led project

They are building a home for Happy Harmony Apes, a place for the Harmony community to assemble, new apes to onboard and for a new community-owned crypto to emerge to drive the world bananas. Parrot Egg is their native deflationary token.

How to start farming

Let’s get started farming PPEGG on Parrot DeFi.

  • Go to the farm page.
  • Connect your Metamask.
  • Pick which farm you want to use. For this example, we will pick the PPEGG-USDC LP farm.
  • Go to the exchange page and click “Add Liquidity”
  • Select the tokens to add, in this case, PPEGG and USDC. You need to provide them in a 50/50 ratio vs USD value. For example, you would need to add $10 of Parrot Egg and $10 of USDC. Once you are done, click “Supply”
  • Check the details, click “Confirm Supply” and confirm the transaction in your wallet.
  • You now have liquidity tokens. Next, go back to the farm page.
  • Click “Approve Contract” on the farm you want to use and then confirm the transaction in your wallet.
  • Click the “Stake LP” button to stake your liquidity tokens.
  • Enter the number of liquidity tokens you want to stake and click “Confirm”, then confirm the transaction in your wallet.
  • Now you are farming Parrot Egg tokens! You can harvest them at any time by pressing “Harvest”

Add Harmony to Metamask

In order to connect to the Harmony Network, a custom RPC Endpoint needs to be added. On top click on the network you are connected to and then select Custom RPC. Parrot Egg order to configure Metamask with Binance Smart Chain (BSC) check the documenation here. The example below shows the configuration that needs to be done to connect to Harmony Mainnet on Shard 0.

Wrap ONE to get WONE

Parrot Egg is “wrapped Harmony ONE”, a HRC-20 fungible token minted on Harmony.Harmony’s open, decentralized network is enabled through the use of the native protocol token – Harmony ONE. The token incentivizes and rewards a variety of participants including developers, validators/stakers, investors, and community members who develop, secure and govern the network. In order to use the network, users pay a small transaction fee denominated in the native Harmony token.

The token is used for staking, which is necessary to participate in the POS consensus & earn block rewards and transaction fees.The token is used to pay for transaction fees, gas and storage fees.The token is used in voting for on-chain governance of the protocol. The token is used for staking, which is necessary to participate in the Parrot Egg consensus & earn block rewards and transaction fees.The token is used to pay for transaction fees, gas and storage fees.The token is used in voting for on-chain governance of the protocol.

Parrot Egg high-throughput protocol is powered by a native token which is used for various forms of payment and participation in the protocol (staking, transaction fees, voting & governance). Harmony uses blockchain to align incentives of different stakeholders, developers and businesses while allowing them to build open marketplaces of fungible and non-fungible tokens and assets.

Furthermore, the upcoming application of zero-knowledge proofs will allow Parrot Egg to become a data sharing platform that can overcome the conflicting problem plaguing many information and data markets that individual market participants’ have mutual distrust to share data but strong desire to acquire data themselves.

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 .