What is CYT coin? Coinary Fundamentals Review!
By reading the article “What is CYT coin ” published in Adaas Capital , you will get acquainted with Coinary cryptocurrency and how to buy CYT token in general. This level of familiarity can be enough when you need educational information about this topic.
Table of Contents
Introducing CYT Cryptocurrency
Coinary cryptocurrency is a token based on the Binane blockchain. In the official white paper of this project, they introduce themselves as a new vision to the industry of play-to-earn games or GameFi.
Introducing the Dragonary game
CYT cryptocurrency product is called Dragonary game and is a free game for Android and IOS users as well as web users. The biggest feature of this platform is defining the whole game economy based on the players of this game.
By playing games, users can trade in-game items and also receive rewards from the game that can be traded in the cryptocurrency market.
Tokenomic review of CYT token
As you read at the beginning of this article, this is a token under the BEP-20 Binance blockchain standard. The CYT token has limited its supply to 1,000,000,000 units with the aim of negative inflation.
This token is used for all transactions in the dragonary game. All in-game transactions burn 80% of the cost of each transaction and the remaining 20% of the transaction cost is allocated among users.
Initial distribution of CYT tokens
- AirDrop by the CoinaryTV community: 41,000,000
- Mine by Dragonary game: 749,000,000
- Assign to team members over 10 years: 50,000,000
- CYT cryptocurrency Investors: 160,000,000
Review of technology used in CYT token
Given the content on the white paper of this cryptocurrency, they claim that there are enough blockchains with unparalleled capabilities available to users, and they have abandoned the development of another blockchain. So its users want to enjoy the game easily because the Binance Blockchain supports data transfers of this platform.
Dragonary also uses the none-fungible token or NFT technology for in-game items, and the game also allows its users to create and sell Dragonary images in the form of an NFT token.
CYT Coin Roadmap Review
In 2021, the goals of this cryptocurrency have been identified in four stages, and you can visit their Roadmap section to achieve each one or not.
In the first phase, the idea and the development team are identified. In the second phase of the project roadmap, the CYT token was launched under the Callisto network and the beta version of Coinary Hub, which is for Dragonary platform players, was launched.
In the third phase, the development of the CYT token will take place in the Binance blockchain, the alpha version of the game, the launch of the marketplace, the upgrade of the platform graphic, and the release of the game. In the fourth phase, the Dragonary platform update, and the release of the platform applications are specified.
In 2022, in the first phase, the first Dragonary tournament will be held by the eSport team, and in the second phase, a new version of the game with the islands will be launched.
CYT cryptocurrency Development Team
Alejo Chababo
CEO and Co-Founder
He has been working in the field of cryptocurrencies since 2016. He is currently one of the leading mining figures in Latin America.
Yohan Graterol
COO | Co-Founder
His previous position has been leading the engineering team at startups for 7 years. In 2016, he collaborated with Ethereum Classic and Callisto.
How to buy or sell CYT token?
You can use PancakeSwap Exchange to buy CYT tokens. To do this, we first enter the required amount of BNB cryptocurrency into the wallet. Then we enter the PancakeSwap exchange website and connect our wallet according to the picture.
Then we copy the smart contract from the CYT cryptocurrency profile on the CoinMarketCap site and enter it in the Add Token section in the PancakeSwap exchange to add the CYT token to the list. And finally, we do our transaction to our desired amount.
The end words
At Adaas Capital, we hope that by reading this article you are fully acquainted with what is CYT coin and how to buy Cyt token. You can contribute to our progress by sharing the article “Coinary Fundamental Analysis” published in Adaas Investment Magazine and help optimize this article by submitting your comments.
References
FAQ
What is CYT token?
Coinary cryptocurrency is a token based on the Binane blockchain. In the official white paper of this project, they introduce themselves as a new vision to the industry of play-to-earn games or GameFi.
What is the Dragonary game?
CYT cryptocurrency product is called Dragonary game and is a free game for Android and IOS users as well as web users. The biggest feature of this platform is defining the whole game economy based on the players of this game.
