Information that you need to know about the Core DAO project

• General introduction about Core DAO
• Tokenomics
• Token Overview
• Token Allocation
• Token Use Case
• Community
• Core DAO Ecosystem
• LayerZero - Cross Chain Interaction Protocol
• LFG Swap - First DEX on Core DAO
• Element wallet - The first wallet on Core DAO
• Switchboard - Oracle project
• Conclude

General introduction about Core DAO

Core DAO is a Layer 1 blockchain, compatible with the Ethereum Virtual Machine (EVM) model . This project is built on top of the Geth code and uses advancements from BNB Chain to speed up and reduce transaction costs by holding a hard-fork. CORE tokens are issued to support the ecosystem and related activities in the project.

Tokenomics

Token Overview

• Token Name: Core DAO
• Ticker: CORE.
• Blockchain: Core Network
• Token Type: Utility Token.
• Circulating Supply: 392.600.000
• Total Supply: 2,100,000,000 VND
• Max Supply: 2,100,000,000
• Contract: 0x86053267656f1f10ae313f5c292ec7a643f94f52

Token Allocation

The number of CORE tokens in the Core DAO is capped at 2.1 billion. The project will burn CORE at the specified rate from block rewards and transaction fees, similar to Ethereum.

• Contributors: 15% – 315,000,000 CORE
• Users: 25.029% – 525,600,000 CORE
• Node Mining: 39.995% – 839.900.000 CORE
• Reserves: 10% – 210,000,000 CORE
• Treasury: 9.5% – 199,500,000 CORE
• Relayer Rewards: 0.476% – 10,000,000 CORE

Token Use Case

Core DAO provides a robust token ecosystem to support transactions and activities on the network. The CORE token will be backed by block rewards and transaction fees that financially secure future network participants. The long time to pay block rewards also facilitates the strong development of the ecosystem and increases the success rate of Core DAO. At the same time, Bitcoin miners can also switch to work on Core DAO to continue receiving rewards after Bitcoin's block reward stops in the future.

Community

The Core DAO community is thriving with over 1.6 million followers on Twitter and 179,000 members on Discord, plus more than 2.6K people online. The interest of many people in Core DAO, including English and Chinese groups, shows the scalability of this project in the Web3 ecosystem.

Core DAO Ecosystem

In the Web3 ecosystem, Core DAO creates what will become a new, vibrant world with emerging projects. It is DEX, cryptocurrency wallet and cross-chain bridge projects, opening a new area of ​​activity for developers and users.

LayerZero – Cross Chain Interaction Protocol

LayerZero is an advanced solution that allows blockchains to connect to each other dynamically, securely, and without a central hub. With a connection to LayerZero, multichain dapps can trade and move assets more easily and freely. 

Integrating with Core, LayerZero provides a wealth of opportunities for new expansion and growth. LayerZero has completed a $135 million A+ funding round, funded by FTX Ventures, Sequoia Capital, a16z, Coinbase Ventures, PayPal Ventures, Tiger Global, Uniswap Labs. The valuation of this project after calling for capital reached 1 billion USD.

LFG Swap – First DEX on Core DAO

Core DAO recognized the power of DEX and partnered with the LFG Swap project to create a better experience. LFG Swap, a popular partner from Ethereum POW, reached TVL of 10 million USD in just one day after being deployed on Core DAO. Now, the community has launched the implementation of the LFG Swap, which provides features like swap, farm, pool, and IFO for projects on the network.

Element wallet – The first wallet on Core DAO

Element Wallet is the first crypto wallet product built specifically for the Core DAO ecosystem. With an easy-to-use and specialized interface for Core users, Element Wallet creates a unique cryptocurrency trading experience. Features of the wallet include sending, receiving, staking CORE tokens…

Switchboard – Oracle project

The Switchboard protocol is a project that allows for the provision of general-purpose data. Developers at Core can securely connect and use off-chain data including prices, sports, weather, etc.

Conclude

So we learned about the CoreDAO project and the CORE token together. We hope that the information provided by the TraderH4 team will help you make smart investment decisions. Good luck.

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