Coco Swap is an independent liquidity protocol available on several decentralized applications like Android, iOS, and Web 3.0 (the latest version of the web). The protocol aims to enable users to exchange NFTs, cryptocurrencies, and other derivatives through ‘autonomous yield.’ Therefore, by providing liquidity, the protocol enables an easy staking option for users to incentivize the network and earn rewards for their services.

The official website of Coco Swap states that the protocol utilizes Binance Smart Chain blockchain and COCO token.), the native coin of the Coco Swap protocol, for enabling easy and fast swapping of digital assets. The COCO Swap token (COCO) is a deflationary token and is built on advanced DeFi protocol systems. Deflationary tokens are coins that are removed from the market over time to increase the coin value.

COCO Swap token (COCO) rewards the shareholders who stake through the liquidity by increasing the value of their stake and providing a good percentage share. Moreover, the Coco Swap protocol aims to implement a coin burning strategy. Coin burning refers to the process of removing the coins in circulation to reduce the number of tokens in use. This strategy is aimed at rewarding and benefiting the COCO token holders in the long term as burning helps to increase the price of coins over time. Additionally, the total amount of burnt coins is featured on the website to ensure transparency in identifying the current circulating supply of the token.

According to the whitepaper of Coco Swap, the Automatic Liquidity Pool (LP) is an essential feature of the protocol. Through automatic LP, the tokens are sucked up from the purchasers and sellers and are added to the LP. The increase in the LP of COCO results in a strong price floor for the holders. Price floor refers to an established low limit of the price that can be charged for products or services. Therefore, the primary objective behind the automatic LP is to prevent the steep fall in the price of COCO in the later stage.

Coco Swap was established in April 2021. The maximum supply of COCO is 150,000,000,000.

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