Blockonnet Token Will Reach The Heights Of Solana (SOL)

Solana (SOL) is a well-known crypto token because it powers the Solana (SOL) ecosystem and serves as a utility token.

However, there is a newer token, Blockonnet, that, as time goes on, will eventually develop more practical use and reach the level of Solana (SOL), which already is a household name in the cryptocurrency industry.

How do we know these? Let's consider each token.

Solana (SOL) – A Popular Cryptocurrency With Numerous Uses

Solana (SOL) is the native token of the popular crypto platform Solana (SOL). The network was co-created in 2017 by Anatoly Yakovenko, Raj Gokal, Stephen Akridge, and Greg Fitzgerald.

However, they launched the platform officially in March 2020. SOL, their native token, had a total supply of over 500 million tickets; presently, over 300 million are in circulation.

According to Coin Market Cap, it is currently worth 41 dollars and ranked number 9 in the crypto market.

The Solana (SOL) ecosystem provides income opportunities for users through trading Sol, staking, and exchanging it for other tokens.

Some other uses of SOL are blockchain validation and value transfer.

Blockonnet – An Upcoming Token That Will Provide Income With Staking

Blockonnet is the native token of the Blockonnet network, a crypto platform dedicated to decentralizing the world of finance through cryptocurrency.

Blockonnet token serves the purpose of governance and utility on the network.

The platform employs a deflationary and rebasing process to boost the token's liquidity, understanding that lack of liquidity is the primary cause of rug pull on decentralized platforms.

To tackle this problem, they decided to charge 5% on each transaction with 2% of it frozen.

For an asset to maintain value, it must have a limited supply because when there is an unlimited supply, a token loses value with time due to fewer demands.

For the Blockonnet token to maintain value, the blockchain smart contract is authorized to burn 5% tokens on each transaction.

Thus the total supply of tokens will be less than the demand leading to an increase in price.

There will be a total supply of 50 million Blockonnet tokens; 30% will be allocated to the community, 25% to Play To Earn, 10% to the team, 5% to advisors, 20% to staking, and 10% will go to airdrops.

Blockonnet network also allows token holders to stake their tokens and earn rewards.

On the platform, there are two forms of staking; stake and earn and soft staking for idle balance.

For the stake and earn, users can stake Blockonnet token on the platform for 90 days and earn up to 13% interest per annum.

While for soft staking, users can earn up to 4% interest per year by just leaving their cryptocurrencies, including Blockonnet, in the exchange.

The sweet aspect is that there is no lock-up plan, and the reward is delivered flexibly.

All those who choose to invest in the Blockonnet network through staking can be assured that their funds will be put to good use.

They intend to use 50% of the funding to develop the Blockonnet network by recruiting team members, training, and conducting system enhancement.

30% will be used for branding and marketing, and 20% will be set aside for emergency and unforeseen circumstances.

That's quite a game plan! With all these schemes, it is only a matter of time before Blockonnet attains the heights of cryptocurrency like Solana (SOL) or maybe even surpasses it.

Conclusion

Blockonnet is an upcoming crypto project, and the Blockonnet token, which is its native token, is showing so much promise and,d in the long run, may develop more practical uses and gain wider acclaim attaining the status of popular cryptocurrencies like Solana (SOL)

Link: 

https://blockonnect.io/