Platform Token is trending in the cryptocurrency era currently. What is a platform token? What is so special about it that it is trending now? Platform tokens refer to cryptocurrencies that were released by exchange platforms, such as Binance (BNB).
BNB was launched through an initial coin offering (or ICO) that took place from June 26 to July 3, 2017 – 11 days before the Binance Exchange opened for trading. Although BNB was launched through an ICO, BNB does not provide users with a claim on Binance profits and does not represent an investment in Binance.
The BNB has many use cases both within the Binance ecosystem and elsewhere, so it is up to you to decide how to use your BNB. In short, platform tokens are working as a medium in exchange platforms. Apart from that, these kinds of cryptocurrencies make trading cheaper.
A very great example here is Binance. Binance reduces those already-low trading fees by a full 50% if you pay for them using the exchange’s native cryptocurrency, Binance Coin (BNB).
That means that instead of paying $10 cents on a $100 transaction, you’d pay only $0.05 if you complete the transaction using BNB. In another instance, Kaido Coin (KAD) is the official token of the Polkaido Exchange Platform.
KAD will be listed in June 2021 through the initial DEX offering (IDO) which is short for the first token issuance on the decentralized exchange platform.
Currently, KAD tokens are developed utilizing the ERC-20 standard on the basis of Ethereum’s blockchain. It is anticipated that on December 22, 2022 KAD will authoritatively complete the Kaido Chain MainNet and support the change of KAD running on Ethereum to KAD running on its platform.
KAD coin is the official token that bolsters the improvement of the Polkaido Exchange and Kaido Smart Chain ecosystem. Kaido Smart Chain is an open-source platform for propelling highly decentralized applications, unused monetary standards, and modern interactive blockchains.
KAD-20, built using a breakthrough consensus protocol, will become the first smart contract platform that confirms transactions within one second, and fully supports ETH development tools.
What makes the KAD coin stand out from other platform tokens?
KAD shows up within the Polkaido Exchange ecosystem and other blockchains such as ETH. Users can use KAD to pay exchange fees which are also known as transaction fees, just like BNB. Users are able to pay transaction fees on the Polkaido Exchange with KAD due it is utilized to diminish exchange expenses on the Polkaido Exchange.
Additionally, users are able to use KAD on KadFi which is a platform that provides decentralized digital financial services, mainly focusing on loans.
Also, users are allowed to make payments on Polkaido Exchange Payments with KAD as well. It is expected that in January 2022, Kaido will issue the Polkaido Exchange card and Polkaido Exchange Pay application in other overseas markets. Users can then utilize it for travel purposes such as booking hotels and flights.
There will be more news about Kaido cooperating with educational organizations in order for them to accept KAD as a mortgage tool when studying abroad. The Kaido Smart Chain Ecosystem will be using KAD as community utility tokens.
In short, KAD is not only a simple token used for transactions, but it is also a payment method for payment services and products.
Polkaido Exchange is an American company that was originally established in Sunnyvale, California. The founder is Michael Li (CEO), VP of data at Coinbase (hiring data scientists, machine learning engineers, and data platform engineers). Juniper Networks owns and operates Polkaido Exchange.
For more information, visit kaidoex.com/