What is YooShi?
The YooShi token or YOOSHI is a memecoin native to YooShi - a GameFi metaverse project powered by NFT mechanics.
YOOSHI is based on the BEP-20 token standard and is deployed on the BNB Smart Chain.
The core functionality of the YooShi token is that it generates yield. To put it simply, all you need to do is hold YOOSHI and you will earn. This is possible because a share of YooShi’s transaction fees is distributed to all YOOSHI holders.
Anyone can acquire YOOSHI tokens via major supported exchanges. You can find our list of recommended exchanges in the section above.
There is a max cap of 1,000,000,000,000,000 YooShi tokens.This means that the supply of YOOSHI is deflationary. As such, it’s possible that as the YooShi tokens become more scarce, the YooShi price will increase.
It’s important to note that YooShi has an integrated burning mechanism.
YOOSHI tokens have been allocated as follows:
- 50% - Burned At Launch;
- 40% - Fair Launch;
- 10% - To Be Burned.
As you can see, the YooShi memecoin was fairly launched. In other words, none of the memecoins were allocated to the founding team or advisors. Moreover, YooShi did not conduct a pre-sale.
YooShi is a cryptocurrency, and, just like many other cryptocurrencies, the YOOSHI price tends to fluctuate. That's why it's crucial to do your research before making a purchase decision.
There are various tools to help with this. For instance, the price graph above will let you have a more in-depth look at the YooShi price history and its current trends.
What are the Main Features of YooShi?
YooShi started as a simple memecoin project. However, as time passed, the team saw an opportunity to make something far greater, much like other memecoin projects.
Shiba Inu is one of the best examples of a memecoin project taking off and it inspired the YooShi team to try to bring more value into the project.
The name of the project came from a Mario game character - a dinosaur named Yoshi. You can see him on the logo.
One of the primary goals of the project is to build the largest NFT-based gaming metaverse.
YooShi Gamepad is the core feature of the entire project. It’s a fundraising platform for blockchain-based games. Developers can utilize it to raise money for their project via an Initial DEX Offering (IDO).
During an IDO, developers sell exclusive in-game items represented by non-fungible tokens (NFTs). If needed, YooShi will help these projects to launch their own NFT marketplaces.
At the time of writing, DNAxCAT and StarMon are the sole games that have successfully raised the funds needed for their project. Both of them are available on Android devices.
The YooShi ecosystem has several different products and services including Play-2-Earn (P2E) games, an NFT marketplace, and even yield farms.
Speaking of yield farms, YooShi introduced a type of blind box inspired by yield farming called the YooShi BOX. Upon opening one of these boxes, users receive a random NFT. In addition to receiving an exclusive NFT, users are eligible to receive a cut of 3% in transaction fees.
YooShi BOXes can only be purchased with YOOSHI tokens.
The creators of YooShi have no part in its governance. This makes YooShi a completely community-driven platform.
As discussed in the What is YooShi section, the YOOSHI token is deployed on the BNB Smart Chain. This means that the project is secured via the Proof-of-Stake (PoS) consensus mechanism.
Who Developed YooShi?
The YooShi crypto project was launched in 2021. Its founding team members have decided to remain anonymous. Anonymous founders are often associated with scams, however, it’s clear that there are successful projects. Generally, one of the main reasons for their success is a strong community.
If you're interested in the project, don't forget to check the YOOSHI price via our tracker.