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Highlights:
- Notably, the 24-hour volume of OOKI crypto has catapulted over 1300 per cent to $223.8 million.
- The OOKI crypto is the native token of Ooki Protocol, and it can be used for staking purposes.
- According to the protocol's whitepaper, Ooki Protocol is secure as it is governed by Ooki Decentralized Autonomous Organization (DAO).
The price of Ooki Protocol (OOKI) cryptocurrency has shot up 78 per cent, and it was trading at US$ 0.02326 per token, at the time of writing.
Notably, the 24-hour volume of OOKI crypto has catapulted over 1300 per cent to $271.1 million. Ooki is a relatively new decentralized finance (DeFi) protocol, and it can be used for lending and tokenized margin trading.
Also Read: What is Tectonic (TONIC) crypto? All you need to know
The increase in OOKI crypto price could have attracted potential investors' attention, and we are further exploring Ooki Protocol.
What is Ooki Protocol & why OOKI crypto price is rising?
The Ooki Protocol enables users to build applications that allow stakeholders like borrowers and lenders to interact with the flexible DeFi protocol on Ethereum.
The protocol is community-driven and is governed through the community vote for all the major changes. As it is decentralized, Ooki does not require users to submit their KYC or any form of verification documents.
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Ooki Protocol offers a frictionless trading experience as it has the feature of zero rollover fees and automatic renewal.
The OOKI crypto is the native token of Ooki Protocol, and it can be used for staking purposes. Holders of the OOKI crypto can stake the cryptocurrency to earn part of the protocol fees.
Those interested in staking the OOKI crypto must note that it is only possible on Ethereum. Apart from staking, the OOKI crypto acts as a governance token and can be used by the community to govern Ooki protocol.
According to the protocol's whitepaper, Ooki Protocol is secure as it is governed by Ooki Decentralized Autonomous Organization (DAO). The protocol is open-source and claims it is committed to interoperability.
The surge in OOKI crypto price could be due to the recent announcement of Ooki launch stage 4, in which OOKI staking was introduced. Users can earn a part of the protocol fees generated from borrowing, lending, and margin trading, among other activities.
Bottom line
There are a variety of cryptocurrency exchanges offering traders to buy the OOKI crypto. If you are interested, you can visit Mandala Exchange, Binance, Hotcoin Global, Gate.io, and KuCoin.