Why is Tracer DAO (TCR) crypto gaining attention?

March 24, 2022 11:06 AM PDT | By Rupam Roy

Why is Tracer DAO (TCR) crypto gaining attention? — Image source: © Elnur | Megapixl.com

What is Tracer DAO (TCR) crypto?

Tracer is an open-source smart contract platform for derivatives. It enables users to organize derivative markets from templates provided by its Tracer Factory. It helps manage digital and real-world financial risks.

Tracer is a peer-to-peer financial infrastructure that uses blockchain technology to offer censorship-resistant market connectivity while empowering next-gen finance. Its decentralized design, open-source code, and definitive oracle architecture offer enhanced security to users.

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TCR is the governance token for the platform. It allows token holders to participate in the governance activities of the ecosystem. It also provides them voting rights for proposals.

The community-driven proposals may include research engagements, advisory roles, developments on the protocol, treasury management, and other protocol-related aspects.

The TCR token is available on exchanges like BKEX, Uniswap (V3), SushiSwap, etc.

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Why is it rising?

Tracer has been drawing investors' attention since its announcement in January to introduce its Perpetual Pool V2 update and deliver the best-leveraged tokens that decentralized finance can offer. On Thursday, the company had invited its token holders to an event on discord where it provided updates on the V2 launch.

In addition, the company's recent announcement that they are excited to see Tracer Dao Perpetual Pool Tokens used in the GMX and Umami Finance vault, which would be coming soon to Arbitrum, may have also boosted investors’ interest in the token.

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Source: *Data provided by CoinMarketCap.com

Why Was Tracer DAO (TCR) Crypto Gaining Attention?

Bottom line:

The TCR token was priced at US$0.1759 at 12:32 pm ET on March 24, up 17.54%, while its volume for the last 24 hours jumped 16.90% to US$1.08 million. It has a market cap of US$8.55 million, and its fully-diluted market cap is US$175.87 million.

The max supply of the token is one billion, and its self-reporting current circulating supply is 54.27 million. It gave a return of 21.38% over the last seven days.

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