Image source: NAGA
The social investment platform with a global community, NAGA, recently recognized the demand to integrate the NAGA coin ($ NGC) in all its platforms. In just a few weeks, the platform has added the token to the NAGA trading platform.
The NAGA coin ($ NGC) will serve as a utility token in all NAGA offerings, including NAGA Trader, NAGA DeFi, and NAGA Social Betting. With $ NGC, users will be able to benefit from reduced copy exchange fees on the platform, create smart contracts for copy exchange, and experience an expanded range of functionalities.
In addition to this, all NAGA users can now trade $ NGC as a contract for difference (CFD) and also as an underlying real crypto through the NAGA Crypto wallet, tradable only at 1: 1 (no leverage) and without the option. short circuit. . In terms of fees, by using $ NGC, users can save up to 50% on all copy fees when copying to other merchants on the NAGA platform.
Utility token to unlock a variety of customer-centric features
Launched in 2017 in association with The NAGA Group AG, a German FinTech company listed on the Frankfurt Stock Exchange, the $ NGC token had raised $ 50,000,000 from 63,000 contributors through its ICO (Initial Coin Offering).
Although the platform currently has a market capitalization of $ 31 million, the $ NGC token has utility unlike meme coins, which will play a critical role in helping to increase the value of the $ NGC token.
The token not only fuels the entire NAGA ecosystem, but also includes notable benefits like rebate per trade, discounts, free access to premium and paid content, and double credit bonuses, to name a few.
Users can trade more than 1,500 global financial assets such as Tesla, Facebook, gold, and other cryptocurrencies using the NAGA currency ($ NGC), which was initially introduced to eliminate the need for a bank account or fiat money. Based on the ERC-20 token standard, $ NGC integrates investment and social trading capabilities while expanding to decentralized finance (DeFi) and sports betting applications, adding a wide range of new utilities.
The $ NGC token can also be easily integrated into the NAGA wallet, allowing users the flexibility to send and receive crypto using their registered email addresses, thus eliminating the need to copy and paste long wallet IDs. NAGA Wallet also offers free in-house transactions, real-time price updates, multi-currency support, an integrated trading exchange, and an ICO hub. Additionally, the $ NGC token enables content creators and trained merchants to monetize their trading strategies by obtaining copiers at their positions, resulting in payments being made instantly to their wallets.
As a platform, NAGA experienced 157% YoY growth (YoY) through Q3 2021, with revenues that reach almost 21 million dollars. In recent months, NAGA has participated in outstanding projects such as the Dubai Forex Expo 2021 and has promoted more partnerships, securing agreements with Sevilla FC, LaLiga FC and Porsche GT Racer Tio Ellinas. To build momentum, the platform closed a $ 27 million funding round from Christian Angermayer and Peter Thiel’s fund to expand globally.
For now, the $ NGC token is valued at around $ 0.50, which leaves room for gains after a challenging period of currency valuation. Given the rate at which the NAGA platform has grown this year, accumulating more than one million active users worldwide, NAGA’s valuation is potentially poised for further gains. With the growing demand to bring financial services to the unbanked around the world, NAGA’s wide range of products has the potential to become the go-to space for trading and all things crypto, especially due to utility extended offering its native $ NGC token.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial or other advice.