The latest community-led token, Big Eyes (BIG), is joining its predecessors, Decentraland (MANA) and Maker (MKR), to promote the adoption of community-driven cryptocurrencies.
Community-driven cryptocurrencies aim to achieve what Bitcoin (BTC) couldn’t: serve their communities’ interests. Therefore, Big Eyes (BIG), building on a well-structured blockchain, caters to its community using DeFi tools, NFTs, and charitable activities.
Let’s explore how Big Eyes (BIG), alongside Decentraland (MANA) and Maker (MKR), could help promote the adoption of community-driven cryptocurrencies .
Big Eyes (BIG) Is Creating a Blueprint with Its Community
Big Eyes (BIG) has constructed an excellent user-friendly ecosystem. Unlike other cryptos, Big Eyes (BIG) aims to give wealth back to the people while protecting aquatic life through various charity-focused efforts.
With its community as its priority, Big Eyes (BIG) promises to give out 80% of its tokens to its members upon launch. This will ensure the platform’s control is in the hands of the community. Meanwhile, 5% of the BIG tokens will go to its charity wallet, dedicated to supporting ocean sanctuaries.
Furthermore, Big Eyes (BIG) has made it possible to transact and exchange BIG tokens at zero fees, regardless of the amount, to further drive wealth generation for its community. This, in itself, is a precedent for other tokens to emulate.
Big Eyes (BIG) also offers uniquely cute NFTs to its community, with various incentives attached to owning them. These incentives include access to an exclusive NFT club and premium NFT collections, a 5% reward from NFT sales, and exciting NFT contests.
As more people are encouraged to own the Big Eyes NFTs, the new cryptocurrency will achieve its aim of ranking among the top 10 NFTs.
Lastly, Big Eyes (BIG) is built on the Ethereum blockchain, enjoying its newly adopted Proof-of-Stake (PoS) consensus mechanism and the numerous DEXs on the Ethereum (ETH) network.
Pushing Decentralization With Decentraland
Built on the Ethereum blockchain, Decentraland (MANA) is one of the largest embodiments of decentralization. Its global community of users share a virtual world–the Metaverse—where they can play and earn.
The Decentraland (MANA) ecosystem comprises user-owned experiences, games, and NFTs all powered by MANA tokens. MANA tokens are used to buy LAND NFTs on the virtual platform. Users can then build, modify, and monetize their content on these LANDs.
MANA tokens also allow users to buy wearables, character names, avatars, and more NFTs within the Metaverse.
Most importantly, MANA tokens govern the decentralized state of the Decentraland platform. Therefore MANA holders fully control the ecosystem, making decisions that drive the project’s growth.
Generating Wealth For The Community Through Maker
Maker (MKR) is one of the earliest DeFi projects in the cryptocurrency market. It is the governance token of the Maker DAO and Maker Protocol. Both of these projects are built on the Ethereum blockchain and control the issuance of the stablecoin, DAI.
DAI is a collateral-based stablecoin soft-pegged to the U.S. dollar. Users mint DAI by depositing various crypto-assets into Maker Vaults on the Maker Protocol. DAI is one of the most popular stablecoins and the second-largest stablecoin by market cap.
The Maker Protocol (i.e., the smart contracts that power DAI) operates a DAO system governed by the MKR token. Holders of the MKR token have voting rights over the issuance and governance of DAI. Each holder can vote on different protocol proposals, such as new ways of collateralizing the DAI stablecoin, based on the amount of their MKR stake.
This ability to control the issuance of one of the largest stablecoins on the crypto market has driven the demand for MKR tokens and affected their value in the market. Therefore, community members expect to enjoy value appreciation of Maker (MKR) tokens following the success of DAI itself.
Community-led tokens like Big Eyes (BIG), Decentraland (MANA), and Maker (MKR) have a common feature: they are potential wealth-generating tools for their communities. This is a significant feature lacking in cryptocurrencies such as Bitcoin (BTC).
Based on market analysis, this unique feature will help to promote the adoption of community tokens. Follow the links below to learn more about Big Eyes (BIG).
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