AmazonasCoin wants to offer farming, staking and launch pool: Pixabay
AmazonasCoin (AMZ), a cryptocurrency with collateral in land in the Amazon to preserve the forest, is on the move. It will go from being a token to invest and keep in the portfolio, it will start generating rewards in decentralized finance (DeFi). And there will also be a reduction in units in circulation and the launch of a DeFi platform.
To do this, one of the measures is to change the cryptocurrency mining from Proof of Capacity (PoC) to Proof of Participation (PoS). The AMZ 2.0 call is a BEP-20 token, standard by Binance Smart Chain (BSC). This makes it easier to integrate with blockchain networks for listing. “We will leave market share in the technology that everyone accepts,” Clynson Oliveira, co-founder of the currency, told Blocknews.
In PoS , there is a draw to know who will create the next block on the network. But whoever has more space on the HD has more chances. In the second one, there is also a draw, but the miner must already have coins and the one who has more has greater chances.
With this transfer to PoS, whoever has the crypto can have rewards from the DeFi world. As in staking pool, farming and launch pools operations. Staking pool is a digital wallet with funds from different participants. Team up for more chances to receive mining rewards. Farming is giving your crypto credit. Launch pools is when you put a token into the pool to receive another token and it lasts for a period of time.
AmazonasCoin will have DeFi platform
The change made mining in PoC. By the end of the year, there will be an exchange of AMZ PoC for AMZ PoS. THE exchange Vindax, which lists the cryptocurrency, is making the bridge (bridge) for the change and this should end on the next 31st. The listing of the token in the exchange should be resumed with the end of the bridge process. Whoever deposits AMZ PoC in Vindax’s wallet will lose the tokens.
The exchange of PoC tokens for PoS will be at a rate of 100 for 1 to withdraw coins from the market, increase scarcity and seek to increase their value. That means it will drop from 2.1 billion units to 21 million. To make this exchange, you must contact AmazonasCoin by email [email protected] AMZ 1.0 wallets will automatically change in the AMZ back office as well as in the bridge.
From the second half of January there will be an Initial DeFi Offer (IDO) on TreeDeFi’s platform, with whom Amazonas Coin has an agreement. And with those who saw it was better to switch to PoS. The protocol operates at the BNC in farming and carbon credits. IDO should last up to 30 days. During this period, it will only be possible to buy AMZ 2.0 on the platform. There it is also possible to exchange AMZ 1.0 for AMZ 2.0.
With IDO, AMZ 2.0 will be the currency of AmazonasCoin’s DeFi platform. The expectation, according to Oliveira, is to have the solution operating in 90 days. “Tokenomics is not ready yet”, said the co-founder. There is also a goal to list the token on other exchanges.
With the changes, AMZ 1.0 will no longer be listed on Bitsblockchain and Bitbroker. According to Oliveira, AmazonasCoin’s PoC solution should continue to exist. However, it will be for the registration and traceability of information in a service more aimed at companies.