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The recent Luna scandal taught lots of crypto investors a valuable lesson. For those who need a little refresher on what happened, Luna is the team behind the Terra stablecoin. Unlike other US dollar stablecoins which back their token on a one-to-one dollar basis, Terra was backed up by a fractional Bitcoin reserve. When Bitcoin began to crash, investors lost confidence in the Terra stable coin. The result is that both Terra stablecoin and the Luna token collapsed by more than 99%.
The Luna collapse has people wondering which tokens and coins they can trust. In the meme coin world, finding a trustworthy project can be a challenge. However, there is one meme coin that is backed by a top team and various security protocols – Catecoin.
Catecoin is a popular meme coin that is inspired by the popular rise in animal-inspired meme coins such as Dogecoin and Shiba Inu. However, Catecoin has some notable differences. First, Catecoin caters to the cat community which didn't have its Dogecoin alternative until now. Also, Catecoin offers staking rewards and earning options that are not available with Dogecoin and Shiba Inu. Finally, Catecoin offers superior utility including uses on a DeFi meme platform and gaming platform.
When looking at a crypto token, you will want to consider several factors when gauging the project's stability. That includes the security of the token, the team behind the project, and the actual utility of the token. In each aspect, Catecoin covers all the basis that crypto investors are looking for for a stable project.
Catecoin is currently publicly audited to ensure the integrity of the token. Catecoin undergoes three different types of audits – Contract, staking, and gaming. You can view real-time audit information on the Catecoin office website. Because Catecoin has several different functions, the project must be always audited and trusted by people who use the token daily.
When it comes to several meme coins and other crypto projects, it is important to know how the coin is being managed. This is known as tokennomics. With Catecoin, only 10% of the liquidity pool goes to management. The rest of the pool is dedicated to helping support and grow the project. Here is a look at the breakdown of Catecoin's tokenomics:
Finally, unlike most other meme coins, Catecoin has actual utility. The token is used in a popular cat-themed gaming platform. Additionally, Catecoin can be used on a DeFi meme platform. Finally, Catecoin pays both staking and earning rewards.
It's always a smart idea to research a token or coin before investing. To learn more about what Catecoin offers, be sure to visit the official website today. You can also receive the latest updates by following Catecoin on Twitter.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
