- Koyo platform is working on a billion-dollar launch on the Shibaorum Layer-2 platform.
- It seeks to provide billions of dollars in trading volumes at the Shibarium launch along with massive SHIB burns thereby giving a massive utility boost to the platform.
Everyone in the crypto community has been eagerly awaiting the launch of Shiba Inu’s Layer-2 scalability platform Shibarium. Currently, developers are testing the performance of Shibarium testnet Puppynet which recently registered a strong surge in transactions.
While still in the construction phase, the Shibarium protocol has already seen strong interest from different projects. Since the launch of the ShibaSwapDEX last month on March 9, Koyo Token (‘Koyo’) has gained massive popularity within the Shiba Inu community due to the large $SHIB burn transactions during the month of March.
In his First Revelation, Koyo Token founder Kintaro unveiled details that left everyone awestruck. The First Revelation from Kintaro describes its plan in building exclusively on the Shibarium platform.
With the launch of Shibarium, Kintaro and his team …”expect billions of dollars in volume, expect millions of dollars in rewards and in turn expect $SHIB burns to be in the millions with continuous burns.”
The $SHIB token burning involves the process of removing the cryptocurrency from circulation permanently. Thus, as the SHIB supply declines, the goal is to provide more value unlocking for the SHIB token holders.
The KoyArmy is currently working in full force to make the project to become the first project with a billion-dollar market cap that will launch exclusively on Shibarium. The KoyArmy consists of some of the top brains from the Shiba Inu community. Thus, the KoyArmy seeks to become a community that will offer real utility to the Shiba ecosystem along with other like-minded Shibarium projects.
Creating a Billion-Dollar Market On Shibarium
The Koyo trading platform is confident of bringing billions in volume to the Shibarium platform and will be incentivized via a substantial $KOY sustainable reward pool which will be in the millions. This would also mean millions of dollars in weekly transaction fees and 50% of this amount will burn SHIB.
The good thing about the Koyo trading platform is that it will support the trading volumes of several other Shibarium projects while upholding Satoshi guidelines. Thus, a massive influx of volume would also attract the interest of Tier CEXs for these Shibarium projects. Ultimately, it would drive further volume into Koyo, Shibarium, and the entire Shiba Inu ecosystem.
Kintaro said: “we have already received millions of dollars in liquidity pledges and they are those that are wanting to support the shiba ecosystems”. It means that at launch, the Koyo platform will start with massive liquidity, boosting trading volumes as well as SHIB burns.
Furthermore, the Koyo platform seeks to provide “additional financial services features, covering both the lending & borrowing protocols through the Koyo Venture Capital Fund designed management system, in support of the growth of selected value, and add Shibarium projects which will truly benefit the Shiba ecosystem.”
So far, Koyo has faced minimal resistance in its progress to launch on Shibarium. It has also indicated “several Level 1 & 2 CEXs that have expressed strong interest to list $KOY.”