What is Firepin token? All you need to know about FRPN crypto

June 08, 2022 01:04 AM AEST | By Raza Naqvi

What is Firepin token?

Firepin is a community-based decentralized autonomous organization (DAO) platform with metaverse integration as per the official website. Users can engage in staking and farming, and a percentage of each transaction goes to the treasury.

Firepin token

The Firepin (FRPN) token will serve as the utility token of the network, and it has not been launched yet. At the time of writing, 19 days were left for the launch of the FRPN token.

The network claims that the FRPN crypto will be the reserve currency on BNB, and it will use an algorithm to guarantee price stability. Also, the Firepin token will be backed up by other decentralized assets.

Firepin's objective is to use treasury monies raised from users to fund NFT game development, 3D & metaverse virtual reality games, and direct investments in teams and organizations with a long-term commitment to metaverse games.

According to the whitepaper, many blockchains will support the Firepin Token. Each of the Firepin blockchains has its own distinct value proposition, allowing the Firepin ecosystem to converge and prosper.

Bottom line

Despite all the claims, it is advisable for interested investors that they remain cautious. We are saying this as Firepin is a new project whose token has not been launched yet.

There have been instances when new cryptocurrencies vanished overnight, and the investors lost their money. Hence, potential investors must research before investing.

Firepin recently announced on Twitter, "We regret to inform our presale investors that the second token distribution has been postponed." Since then, some users have alleged that Firepin token is a scam coin and investors should stay alert.

The article has been updated to reflect the latest updates

Also Read: Why is NuCypher (NU) crypto skyrocketing with 20,000% volume gains?

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