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What is ZooCoin on the Fantom Network [Fantom Series]

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Unknown Speaker  0:00  

Welcome to the New To Crypto podcast designed to guide you through the crypto landscape with pinpoint accuracy created for the new and intermediate crypto investor. Join your host Crypto Travels Michael as he takes you through the different facets of getting started and succeeding in your crypto journey. New to crypto podcast brings you new episodes daily Monday through Friday with surprise bonus episodes sometimes on the weekend. Let me ask you, are you new to crypto don’t know where to start? Are you more experienced but have questions? Then you’re in the right place. This podcast is designed for you, coming at you from the training center in the lifestyle design studio. Here’s your host Crypto Travels Michael.

 

Unknown Speaker  0:51  

Welcome to today’s show. This is another one in the Fantom ecosystem series and today is all about ZooCoin. ZooCoin is an ecosystem of decentralized applications built on the Fantom network, Zoo provides unique solutions for people to manage their crypto investments. Its main idea is to attract a wide spectrum of new users by making crypto investments fair and transparent zoo is the primary token of the project and it’s used within the ecosystem. Among the various developed and planned projects. The ecosystem consists of the following applications ZooWallet, ZooPet, which is NFT marketplace ZooCharts, which is a charting provider ZooDecks, which is a decentralized exchange and ZooTrade, which is an exchange aggregator, so let’s break down the benefits and technology ZooWallet is a crypto wallet with analytics functions. 

 

Unknown Speaker  1:51  

ZooPet is an easy to use NFT marketplace and NFT creators can greatly benefit from the low fees on the Fantom network. You can also mint new NFT’s with really good pricing. And this means that you can create original artwork on ZooPet. It’s cost efficient, and for new artists. It’s a good way to start out as well. Some of the key features of ZooPet are NFT minting and trading and categories for original artworks, memes, photography, collectibles, and more. There’s a section with official NFT partnered with ZooCoin and there’s an ability to tip artists, history of trades and actions for each NFT. All the transactions on ZooPet are made with paying with the ZooCoin, the Zoo Token so the fee for minting a new NFT is 250 Zoo. Next on the list is ZooCharts and it is a native charting provider for the Fantom network. It makes trading and investing easier and you can view historical price data for tokens. 

 

Unknown Speaker  2:55  

Its main features are charting any pair on the Fantom AMMs, and comparing the current price of a token among different AMMs tracking pair volume and liquidity as well as viewing recent market trades and liquidity events and tracking new token pairs across Fantom AMMs. Next on the list is ZooDex, and it’s a decentralized exchange operating on the Fantom network. The key features of ZooDex is that it’s separate from other Dexes with limit orders, lightning fast speed of the UI, and trading liquidity info as shown on the UI and being updated in real time. Embedded ZooCharts displays the price of a token in real time, improved pair choosing mechanism, order book and a verification program. So there’s a lot going on with ZooDex, it might be something you want to check into ZooDex aims to be the most attractive platform for new tokens to do an initial launch on. Some of the benefits of launching a token on ZooDex are listing in the default token list with your logo and position advantage based on the verification level. 

 

Unknown Speaker  4:06  

All tokens can be used in limit orders by default with no additional actions needed and listing on the ZooWallet portfolio tracker dashboard. Next on the list is ZooTrade and instant exchange aggregator and it also of course, operates on the Fantom of network and its algorithm picks the most efficient swapping route across different Dexes to get better rates compared to using a single Dex. So who are the founders of this whole ZooCoin project? The project was the idea of Ivan Rumak, an engineer and security expert and later he showed it to two other friends and they joined Ivan as co founders and they brought the initial idea into reality. So let’s go over the Zoo tokens for a minute. There’s ZOO Z-O-O, which is the governance token for voting various proposals within the Zoo ecosystem. There’s also the WILD token. And this is the second native token of the Zoo ecosystem. And it gives you exactly the same benefits that ZOO does, but it has its own features as well. 

 

Unknown Speaker  5:10  

The key difference from ZOO is the fact that WILD is inflationary, which means you can put it on ZooDex farm and earn multiplied reward. The next one is xWILD and its multiplier booster token for ZooDex farms. And it can also can be used for unlocking premium features and having a government vote weight. Holding xWILD gives users an additional farming multiplier boost up to 15%. So I hope that this is unpacked for you. And maybe it’s your first introduction as to what is ZooCoin, but this is definitely something to take note of and to do some more research on. If you liked today’s episode, definitely like and subscribe to the podcast. I love reading your five star written reviews. We have listeners literally from every corner of the world spanning six continents. And if you want to reach out to me, you can send me a message at show@newtocrypto.io again that show@newtocrypto.io and I love hearing from you guys. So until tomorrow, make it a great day.

 

Unknown Speaker  6:17  

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By: cryptotravelsmichael
0

Table of Contents

Welcome back to another podcast episode! In today’s podcast, we’ll be going over what ZooCoin is, so buckle up! 

What Is ZooCoin? 

ZooCoin is a Fantom-powered ecosystem of blockchain-based applications. The project’s primary token (ZOO) is used throughout the ecosystem by the numerous developed and planned projects.

ZooWallet is a portfolio management tool. The NFT marketplace is ZooPet. The charting software used is ZooCharts. The decentralized exchange ZooDex. Finally, ZooTrade is an aggregator of exchanges.

WILD is the Zoo Ecosystem’s second native token. It provides the same benefits as ZOO but with additional functionality. WILD differs from ZOO in that it is inflationary, meaning it may be used in a ZooDex farm to generate double rewards.

The multiplier booster token for ZooDex farms is xWILD. It can also be used to unlock special benefits and give a vote weight to the governance. If you keep xWILD in your wallet, you’ll get a 15% increase in your farming multiplier.

Farms are ZooDex’s own liquidity reward scheme. You can receive incentives by staking your ZooDex LP tokens on a farm.

Official farms are intended to provide a low-to-mid APR with adequate liquidity depth, whereas community farms provide a greater APR but may have limited liquidity.

What Is ZOO? 

ZOO, being their native token, is a governance token that can be used to vote on differing possibilities. 

You get access to the only viable payment currency on the NFT marketplace ZooPet if you use ZOO.

ZOO is the key to unlocking ZooWallet, ZooCharts, ZooTrade, and ZooDex’s additional capabilities.

ZOO is also a holding asset for investors who want to take advantage of the measures that have been put in place to make ZOO more expensive over time.

How Do You Get ZOO? 

Because ZOO is not a reward token, it cannot be obtained through staking. On Fantom, the only method to obtain ZOO is to purchase it at market value on any exchange that handles ERC-20 compliant tokens. 

This helps to avoid the inflation that comes with giving away tokens for free and also strengthens the liquidity pool over time when protocol fees are imposed.

There is no way to create fresh ZOO tokens, but there is a way to burn them, which isn’t in use right now.

The developer fund can only be used for purposes that have been approved by the community and have passed the governance vote.

The product fees are utilized to add liquidity to the ZOO-FTM pool on ZooDex, allowing it to maintain long-term development. 

Furthermore, there are no contract-related fees or self-burning processes involved with any ZOO transaction, so you get the precise quantity you should get without slippage necessary.

Zoo provides unique solutions for people to manage their crypto investments. Its main idea is to attract a wide spectrum of new users by making crypto investments fair and transparent

- Crypto Travels Michael

Here's What We Discussed in Detail in This Interview

[00:01 – 01:44] Opening Segment

  • Welcome to another incredible episode
    • Back with our Fantom Ecosystem series
  • An intro to ZooCoin
    • Decentralized applications built on Fantom
    • Solutions to manage your crypto investments 
    • Made especially for new users – fair and transparent
  • The available applications 
    • ZooWallet
    • ZooPet
    • ZooCharts
    • ZooDex
    • ZooTrade

 

[01:45 – 04:33] What is ZooCoin And Zoo Ecosystem

  • The benefit and technology of ZooCoin
    • ZooWallet
      • Analytic functions
    • ZooPet
      • Easy to use NFT marketplace
      • Good for new artists
  • Key features of ZooPet
    • Minting and trading 
    • Tip artists
    • Transactions made with the Zoo Token
      • 250 Zoo
  • Key features of Zoo Charts
    • Charting any pair on Fantom AMMs 
    • Viewing recent liquidity events 
  • Key features of Zoo Dex
    • Separate from other Dex’s 
    • Trading liquidity info shown in real time
    • Attractive platform for new tokens
  • Key features of ZooTrade
    • Instant exchange aggregator

 

[05:13 – 06:58] the Zoo Ecosystem’s Native Token

  • Founders and background of ZooCoin
    • Ivan Rumak
    • Friends joined in as co-founders 
  • The ZOO Token
    • Governance token for voting rights
  • The Wild Token
    • Same benefits as ZOO
    • Wild is inflationary – earn rewards
  • The X-Wild Token 
    • Unlock premium governance features

Killer Resources

HOW TO REACH TO CRYPTO TRAVELS MICHAEL

Final Thoughts

ZooDex aspires to be the most appealing venue for new tokens to make their initial public offering. This is due to the fact that they provide exclusive benefits to authorized liquidity providers.

These features are gradually enabled as the verification program progresses. They want to work with everyone that launches on the platform, which is why they designed something like this so you can keep up with them as your token grows on the market.

The New to Crypto Podcast is designed to guide you through the crypto landscape with pinpoint accuracy. New episodes are added daily. Be sure to subscribe to the podcast and listen to all of the episodes to help you in your cryptocurrency journey.
I’d love to hear from you! Email me at show@newtocrypto.io and let’s chat.

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