Cocoricos Leads Mainstream DeFi Adoption Which Has Spurred Growth of the EGG Protocol

Cocoricos, a blockchain-based platform that serves as a suite for DeFi products, is leading mainstream DeFi adoption thanks to the way it has simplified generating rewards from different assets through various reputable liquidity pools, staking, and airdrops. The project has a native token known as EGG, which serves as a bridge for staking any asset into the desired liquidity pool. And this is promising to lead to an explosion in the usage of Cocoricos since it simplifies what has been a complex process in the past that discouraged many interested investors from entering the highly lucrative liquidity provision market.

In the past, if you held Bitcoin and wanted to stake SNX on Synthetix, you would have to convert your BTC to ETH before you could access the liquidity protocol to stake SNX. But now, Cocoricos has simplified this process to three simple steps; BTC – EGG – SNX staked. And this applies to any token you may hold and would like to access any top liquidity pool to stake for rewards. The key is holding EGG tokens, which make it possible to enjoy the various features offered by Cocoricos. The platform is able to recommend the best investment options available to the user, such as best places for staking to get good returns since its decisions are based on market data processed in real-time, and thanks to machine learning, the protocol is getting better over time with its recommendations.

Roles Of EGG

EGG has several roles on the platform; it acts as a utility token that can be used for governance where users can vote and engage with the community. Here they get to dictate how different things are run within the protocol. The token can also be used to pay fees within the Cocoricos ecosystem, including coin mintage fee payment and reward payment. And in case of extreme events such as bad debt and accidental hack, the EGG acts as the last resort for safeguarding the protocol where it can be auctioned to cover the debt and recapitalize the protocol.

Most importantly, the EGG serves as an incentive token given the array of activities one can partake in by just holding the token. This makes it a vehicle that captures the economic value of the entire system.

On the dashboard, you will see various pools that are available with their liquidity indicated, volume over the past 24 hours, fees within the same period, and returns over time. The EGG denominated pool is noticeably more profitable compared to others.

On top of liquidity mining, there is staking where users have access to improved yields. EGG token holders can stake through trusted blockchain networks where they get to receive high passive yields.

Additionally, there is an airdrop platform within Cocoricos that helps project and campaign owners raise their popularity, traffic, visibility, and also boosting their social media appearance. Project owners who might have second thoughts on what they stand to gain from employing the platform’s services don’t have to worry since the whole process is fully measurable. It is also escrowed with ads tracking and an automated verification mechanics system based on artificial intelligence for attracting and interacting with customers.

The platform offers a two-sided value proposition that caters to both users and advertisers such as bounty hunters, webmasters, and influencers.

Streamlining Blockchain Adoption

One barrier that has hindered a streamlined adoption of the blockchain technology has been due diligence that has been complicated by the rising number of DeFi platforms that are offering returns. It’s another problem Cocoricos is solving by processing all asset-related data on-chain and off-chain, thereby being able to provide top-notch strategies in real-time.

Interested users have a chance to grab some EGG through its ongoing presale before the token is listed on Uniswap on 15 January 2021. The minimum amount required to participate is 0.1 ETH, and the maximum contribution is 100 ETH.

Cocoricos is pushing DeFi popularity to new heights by making it easy for everyone to participate, which is excellent for the sector. DeFi has had a super year managing to grow over 2100% since the start of the year, with the market cap now ranging around $18 billion. And given the latest development by Cocoricos, the boom doesn’t seem like it will stop anytime soon.