Catecoin – A Utility-Based Meme Content Creation and Farming Platform with Burning Mechanism
AMSTERDAM, NETHERLANDS / May 8, 2021 / Coming on board with the meme revolution, Catecoin has been launched to create new horizons in the world of meme and content farming while working on the principles of a DeFi Meme platform. Interestingly, Catecoin is the only DeFi meme platform. Catecoin is built for meme creators, and the content farming platform is operationalized to help the meme community earn from their creativity.
A Decentralized and Earning Platform For Content Creators
Catecoin gives the meme creators a way to share and promote their work. The voting mechanism is also systematized to generate monetary rewards valued at 0.1 coin each for one like and one comment given to the meme creator and the user.
This process is an element of content farming, for which the developers have already reserved 35% of the total supply. As for the voter community, any user with 100K coins and 10K CATE coins can comment or like the memes created by the creative community.
The reserved pool of CATE coins will be applicable to the creators securing 100 likes and ten comments on their memes. This means that the rewards are based on the community’s participation, which is further dependent on the ownership of the coins and CATE coins.
A Utility-Based Meme Platform
In terms of utility, Catecoin offers, better utility of the meme creation system and also redefines its promotional aspects.
Anybody holding CATE coins can create memes and upload them on the platform. The rest of the community will have access to the uploaded memes and can interact with them by showing their appreciation in terms of likes and comments.
The approved memes will also be transformed into NFT by minting, and the sale proceeds from the NFT will also be shared with the creator. Catecoin runs on a decentralized system and also has a burning mechanism.
Coupled with the burning mechanism, Catecoin also allows the users to earn by holding Catecoin, or they can also earn by 1% from every transaction done on Catecoin. The users earn as with every transaction done on the platform; the total supply will reduce by 1%.
To Sum It Up
Catecoin is a utility-oriented meme creation and content farming platform helping the meme creators earn from their creativity. The creative meme community can share their content and earn from the community response. With the deflationary mechanism powered by a burning mechanism, the limited supply of the CATE will lead to an increase in its value bringing better rewards. The creative community will also be able to sell their memes via NFT minting.
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