GEM PROTOCOL (GEM) runs on BEP-20 protocol that provides decentralized applications (DApps) on the Binance Smart Chain (BSC) blockchain. BEP-20 is a token standard for the Binance Smart Chain (BSC), an evolved ERC-20 standard. Also, BSC is a blockchain network that works on dual-chain architecture and empowers the users to set up their DApp. From its launch date, the asset aims to offer tools and DApps. Further, all GEM growth efforts seek to create DApps and improve existing ones. The platform's mission is to generate value for the BSC community through DApps and utility projects.
However, the available tools on the platform are portfolio tracker and rug checker. Portfolio tracker seeks to track the price and performance of all coins the users have in their wallets. There is no requirement to enter information manually, and data gets automatically consolidated in the portfolio tracker. Further, as mentioned on the website, Rug checker is a tool that aims to help users identify possible rug pulls hidden in the smart contract, honey pots, and essential information related to the liquidity of the project. A smart contract is a self-regulated contract with the term of the agreement between traders directly written into lines of code. Many projects like Gem Finder, Multichart, E-commerce integration, and NFT mint are already developing.
GEM PROTOCOL has a token named GEM. Additionally, the tools on the platform aim to have premium features, and these features can be unlocked through GEM coins that seek to benefit all holders. The DApps and tools seek to advertise and promote the GEM ecosystem. Users can stake GEM coins to seek to earn a platform part and advertising fees in the future. Users can aim to achieve coins in all transactions, and the token charges a 10% fee on the transaction to seek to reward holders and liquidity providers. Liquidity providers place crypto-asset funds into a 'pool' that can get used by other traders to conduct cryptocurrency swaps on the platform.
