Article Summary, Automatically Generated By AI
Here is a summary of the text in HTML format:
About Coinary Token
-
What is Coinary Token (CYT)?
: Native currency of the play-to-earn game Dragonary, deployed on Binance Smart Chain (BSC). -
Token distribution
: 4.1% to airdrop, 74.9% to mining within Dragonary, 5% to the team, and 16% to investors. -
Maximum supply
: 1 billion coins, distributed over 10 years. -
Token usage
: Used for rewarding players, buying/selling/trading NFTs, and powering the Dragonary economy. -
Founders</
Introducing Coinary Token: Empowering the Future of Cryptocurrency
Introducing Coinary Token (CYT): A Revolutionary Cryptocurrency
Coinary Token (CYT), the native cryptocurrency of the play-to-earn game Dragonary, is built upon the Binance Smart Chain (BSC) infrastructure. As a reward for achieving specific in-game objectives, players receive a daily distribution of tokens. Upon meeting predetermined goals, players are allocated a fixed share of freshly minted tokens, which are generated daily.
CYT serves a multifaceted purpose, including functioning as a reward currency for players who achieve milestones in the game. To acquire additional tokens, players must elevate their rarity within the game. More specifically, gamers who focus on breeding and evolving their dragons’ stats will yield a greater CYT harvest. Consequently, CYT earnings are directly correlated with the progress (and, more specifically, rarity) of the user’s account.
Dragonary, a free-to-play NFT game launched in August 2021 and backed by Coinary LTD, is poised to revolutionize the gaming landscape. The game’s primary objective is to incentivize users with CYT tokens for the time they invest in the game. According to the developers, this role-playing video game is meticulously designed to cater to people of all ages and geographical locations, including those with limited or no prior knowledge of blockchain technology.
The Visionaries Behind Coinary Token: A Brief Overview of the Founding Team
Coinary LTD is a trailblazer in the realm of cryptocurrency information and entertainment. The company boasts its own YouTube channel, CoinaryTV, where viewers can engage with its visionary co-founders, Alejo Chababo and Yohan Graterol.
Alejo Chababo, the CEO, embarked on his crypto journey in 2016, rapidly ascending to become one of the most prominent miners in Latin America. Yohan Graterol, who serves as the COO at both Dragonary and Coinary, brings a rich background to the table. Since 2016, Graterol has been instrumental in driving projects such as Ethereum Classic, Ethereum Commonwealth, and Callisto forward. Notably, he previously led the engineering team of a Y Combinator startup for seven years, further solidifying his credentials.
The remainder of the team boasts an impressive pedigree in the blockchain and gaming spheres, a fact aptly reflected in the exceptional quality of Dragonary. Notable crew members include: Eduardo Jaime (Chief Content Officer), Rocío Mayorga (Head of Community), Gustavo Santome (Lead Designer), Daniel Alvarado (Game Developer Lead), Ramiro Chababo (Game Designer), and Melisa Mayorga (Vice President of Customer Success).
Unveiling the Unparalleled Essence of Dragonary
In the realm of Dragonary, the ultimate objective is to cultivate a formidable legion of dragons. By breeding, leveling up, enhancing, and training their dragons, users can unlock their full potential. Each dragon is a distinct entity, boasting its own unique characteristics, and can be exchanged on the Marketplace. The value of these majestic creatures is determined by their rarity, level, skills, and appearance. Furthermore, players have the opportunity to acquire rare and mythical dragons to adorn their collection.
A player’s triumph hinges on amassing a distinctive repertoire of items and cultivating a formidable legion of dragons. Within the game, two distinct arenas await, where players can engage their dragon army in combat. They have the liberty to opt between PVE (Player vs Environment) and PVP (Player vs Player) modes, each offering a unique challenge.
The in-game economy is entirely driven by the collective and individual actions of players. As users progress through the game and earn CYT tokens, they contribute to the growth and development of the Dragonary economy. These tokens can be utilized in both the game’s marketplace and the broader cryptocurrency market. In addition to Coinary Tokens, users can trade, acquire, and earn a diverse range of items and power-ups, which can be leveraged to train, customize, and enhance their dragons.
Dragonary Transcends the Realm of Crypto Enthusiasts Alone
Immerse yourself in Dragonary, a captivating free RPG game accessible for download on a multitude of platforms, including Google Play, Windows, Mac OS, Android, and iOS mobile devices. Notably, Dragonary is designed to be inclusive, allowing anyone to participate, regardless of their familiarity with the realm of cryptocurrencies or blockchain technology. There’s no need to synchronize your crypto wallet or download supplementary software or third-party applications, ensuring a seamless gaming experience.
Notably, crypto-savvy individuals will appreciate that all in-game processes and interactions are seamlessly hosted on the fast and secure Binance Smart Chain (BSC) blockchain. Moreover, transactions are entirely free, allowing users to buy, sell, trade, and create NFTs without incurring any network fees.
Associated Resources:
Delve into the realms of Axie Infinity (AXS) and CryptoBlades (SKILL), two prominent players in the cryptocurrency universe.
Delve into the realm of play-to-earn gaming with our in-depth comparison of Axie Infinity and CryptoBlades, two of the most popular titles in this burgeoning genre.
The latest intelligence on Binance Coin (BNB), providing an up-to-the-minute snapshot of this prominent cryptocurrency.
Delve into the realm of play-to-earn NFT games, and discover the intricacies of this innovative concept with CMC Alexandria.
Non-Fungible Tokens (NFTs) boast a multitude of applications, discover the intricacies by clicking
here
.
What Is the Circulating Supply of Coinary Token (CYT) Coins?
The CYT token, built upon the BEP-20 technology, is seamlessly compatible with both the Callisto Network (CLO) and Binance Smart Chain (BSC). Notably, the maximum supply of CYT is capped at 1 billion coins, which will be strategically distributed over a 10-year period.
The Inaugural Distribution of Coinary Tokens:
A mere 4.1% of the maximum supply is allocated for airdrop purposes.
74.9% of the maximum supply is allocated to mining within the Dragonary ecosystem;
A mere 5% of the maximum token supply is allocated to the team;
A strategic allocation of 16% of the maximum token supply is reserved for investors.
CYT is a hyper-deflationary token that serves as the backbone of the Dragonary gaming ecosystem, with Coinary Token at its helm. Every transaction within this realm is facilitated through CYT, and the Coinary marketplace seamlessly converts acquired coins into CYT. Notably, each in-game purchase triggers a token burn, with 80% of each transaction being eliminated, while the remaining 20% is allocated to players, fostering a unique economy.
The Dragonary team is set to receive 50,000,000 $CYT, with a testament to their confidence in their product, these tokens will remain locked for a decade.
Through active participation in the game, users are rewarded with tokens, with CYT mining mirroring the principles of Bitcoin (BTC) and Ethereum (ETH), where a predetermined quantity of coins is issued daily.
The Coinary Token Network’s Security Framework: A Robust Defense Mechanism
Coinary Token (CYT) is a BEP-20 token, meticulously crafted on the Binance Smart Chain (BSC), which leverages the robust security of a Proof-of-Stake (PoS) consensus mechanism to safeguard its network.
Where to Acquire Coinary Token (CYT)?
As of October 2021, the top three cryptocurrency exchanges where $CYT can be purchased, sold, and traded are PancakeSwap (V2), ApeSwap (BSC), and BabySwap, respectively.
Stay up-to-date with Coinary Token (CYT) market fluctuations by downloading the CoinMarketCap crypto app, your premier resource for tracking prices on-the-go.
Stay informed about the latest product updates, strategic partnerships, and exciting announcements on the CoinMarketCap blog.