EMOGI Gets Off to a Flier on Its Huobi Debut
EMOGI Network gave its token-holders a reason for cheer on August 15 after listing on Huobi immediately after competing its Prime listing. The token, assigned the “LOL” ticker by the mischievous exchange, saw heavy trading in its first view hours, surpassing 3x its phase two sale price of $0.001905. The social digital currency, created by the founders of high-speed blockchain platform IOST, has attracted significant interest within Latin America, whose tech-savvy citizens have taken a particular shine to the Bermi and Berminal apps where the LOL token is deployed.
App Token Integration for the Emoji Generation
Bermi is EMOGI’s video sharing app. It’s racked up 6 million users, who avidly create and share videos, with the most popular content earning its owners tokenized rewards. Evoking the spirit of Vine, Bermi enables videos of up to 30 seconds to be made, embellished with a plethora of emojis in keeping with the spirit of EMOGI Network. 41,000 Google Play reviews, with an average rating of four stars, attest to the app’s success.
Berminal, meanwhile, is a cryptocurrency terminal that provides real-time market data on over 300 coins and which is available in 11 languages. There are trading indicators, latest news, information on airdrops, integration of the LOL token and a web app to accompany the Google Play and App Store mobile apps.
A Pure Crypto With a Plethora of Use Cases
With its native blockchain, designed for high speed and scalability, and a token that’s ideal for tipping and micropayments, EMOGI Network borrows the best elements from the cryptocurrencies of yore – think Dogecoin, or pre-2014 Bitcoin – and gives them a modern makeover. It’s long been evident that for crypto to realize its potential, it needs to gain everyday utility. Bitcoin’s transformation into a store of value is all well and good, but it doesn’t help people in developing nations seeking low-cost value transfer, without excessive delays or fees.
The EMOGI team have bold plans for their LOL cryptocurrency, whose light-hearted ticker belies some serious real-world applications. The goal is to ultimately see the token serve as a global P2P currency that’s ideal for the unbanked, the hard to bank, and anyone else who’s grown frustrated at the cost and time it takes to send funds globally. As such, Bermi and Berminal are merely the maiden apps where LOLs can be deployed and earned, with more applications to come.
As a community-focused proof of stake network, EMOGI enables anyone to stake tokens within its mobile app, and to be rewarded accordingly. Token-holders deposit EMOGI (or LOL to use the Huobi ticker) into a secure voting pool, in return for a 6-20% annualized return through mining fees and block rewards generated by their pool. The process helps to distribute and secure the EMOGI Network while incentivizing participation. Additional rewards functions payouts built in to the Bermi and Berminal apps pay out tokens for referring friends and for daily usage, akin to Snapchat’s daily streak feature.
Another Prime Success
Huobi Prime, the IEO launchpad for the Singapore-based cryptocurrency exchange, has propelled a string of projects into the spotlight including Akropolis, Reserve and now EMOGI Network. Users must hold at least 1,000 HT tokens for a minimum of 30 days to be able to participate in forthcoming Prime sales. According to ICO Analytics, Huobi Prime projects are second only to Binance Launchpad IEOs in increasing and holding their value post-sale. EMOGI will be hoping its token replicates this success as its team focuses on creating new mobile applications that provide additional ways to earn, send and receive LOLs.