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Cardano Ecosystem

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03/08/2024

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Token Spotlight: CNCT

CNCT is the utility token of Coinecta, a Cardano-based token launch platform.

Token Spotlight: CNCT

CNCT is the utility token of Coinecta, a Cardano-based token launch platform. Coinecta aims to help innovative and revolutionize projects launched on Cardano through the power of community; without the help of venture capitalists. This article delves into CNCT, its tokenomics, utility, and more.

CNCT Distribution & Tokenomics

CNCT Distribution & Tokenomics

CNCT has a total supply of 80 million tokens. Currently 27.01 million of these tokens are in circulation, equivalent to 33.8% of the total supply. At 0.147 ADA per token, this gives CNCT a market cap of $2,932,639 and a fully diluted market cap of $8,684,479, placing it at #47 in the top 50 on TapTools.

There are 568 wallets holding CNCT, down 1.90% over the last 30 days. The token has a Median Holder Balance of 3.64k CNCT equivalent to 473.98 ADA, and an Average Holder Age of 76.05 days.

The above image details the tokenomics of CNCT, showcasing a diverse allocation strategy to ensure sustainable growth and development. Key allocations include a substantial 25.00% for the public presale, a significant 32.5% reserved for staking emissions to incentivize network participation, and 13.75% dedicated to the team and advisors, supporting the foundational structure of the project.

Liquidity

CNCT Liquidity Pro page on TapTools

Currently, CNCT has 252.49K ADA in liquidity across 2 Decentralized Exchanges on the Cardano blockchain. The majority of this liquidity is on the Spectrum Finance DEX, which holds 70.91% of the token’s liquidity, while 29.09% is on Minswap.

Volume

CNCT Volume Profiler Pro page on TapTools

There have been 6,879 CNCT trades amounting to 7.69 million ADA in Lifetime Trading Volume, which is equivalent to 80.46 million CNCT. 3.93 million ADA of this was in Buy Volume and 3.76 million ADA was Sell Volume. The wallet size with the most CNCT trading volume was the fish wallet size (5–25K ADA), followed by the swordfish wallet size (25–100k ADA).

Utility

We’ll now delve into the various utilities that CNCT offers its holders.

Staking

CNCT holders will be able to stake their tokens to earn CNCT rewards.

IDO Allocation

CNCT holders who stake their tokens will also unlock IDO allocations depending on the amount of tokens they hold, allowing them to become early investors in projects on the Coinecta Launchpad. Coinecta features a transferable staking NFT model, which allows users to loan out their IDO allocations.

Conclusion

CNCT stands as the utility token at the heart of Coinecta, a Cardano-based launch platform designed to democratize project launches by sidelining traditional venture capital and leveraging community support. With its carefully structured tokenomics and distribution, reflecting a substantial market presence and active community engagement, CNCT aims to facilitate and revolutionize how innovative projects take flight on the Cardano ecosystem.

You can find out more about Coinecta at the following link: https://coinecta.fi/

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Read Original Article on TapTools

ORIGINAL SOURCE

https://medium.com/tap-in-with-taptools/...

Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


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