The Toon Finance project has seen much success despite a bear market, the collapse of FTX, and a hacker Ethereum ETH dump. Toon Finance Token’s value have skyrocketed to by nearly 100% in just a couple of weeks. So, what’s happening with one of this year’s biggest ICO?
What is an ICO?
An ICO (Initial Coin Offering) is a way for blockchain projects to raise capital to fund their development. A project offers tokens for sale at a relatively low cost along with other benefits such as NFTs and exclusive access to certain features while the project is at its infancy.
The Ethereum blockchain has become the go-to platform for many ICOs. This is because Ethereum allows developers to create their own tokens and launch great projects like Toon Finance. But what exactly is Toon Finance that it’s attracting million of dollars in funding?
What is Toon Finance?
Toon Finance is a decentralized finance platform that enables users to build financial applications on top of the Ethereum blockchain. This project will enable users to access their tokens on its own decentralized exchange or DEX called Toon Swap.
This is just the top of the iceberg though, since there are a lot more features that make Toon Finance’s Toon Swap unique compared to its peers like Uniswap, Biswap, Pancake Swap, and Binance along with Binance DEX.
Toon Finance seeks to combat regulation by being an extreme DeFi project, this ensures that your privacy and security will be the first priority since these can be used against you by regulators especially if you use centralized exchanges like FTX and Binance.
What is a bear market and why is Toon Finance still bullish despite it?
What is a bear market?
A bear market is a period when the general stock market prices decline significantly. This type of market condition typically occurs after a prolonged period of bullishness or when global buyer’s confidence is down. Usually this happens when there is hyperinflation or there are events such as the pandemic and war.
This means that people sell their assets to stop their losses and the market crashes as a result. This was exactly what happened when FTX collapsed and a hacker Ethereum ETH dump occurred.
A lot of commodities, cryptocurrency included, get dumped and sold for cheap.
What does FTX and FTX hacker ETH Ethereum dump have to do with the bear market?
FTX is a centralized exchange exactly like Binance, Terra Classic, and Mt. Gox which have long since gone bankrupt while taking its users money with it.
Unfortunately for cryptocurrency and FTX users, former CEO of centralized exchange FTX was not happy withdrawing $1 million dollars from FTX just before it collapsed, the also allegedly took another $400 million dollars worth of cryptocurrency and dumped a lot of it causing another market crash on top of the FTX market crash, and on top of the bear market crash.
Why is Toon Finance still doing well?
There are multiple reasons why Toon Finance skyrocketed and continued to skyrocket despite the bear. One is that it is a genuinely good project, another is that it is decentralized.
Decentralized projects got a boost after FTX crash
People learned that central exchanges like Binance is not a wallet and therefore started looking for actual wallets. One of the beneficiary of this behavior is Trust Wallet Token which like Toon Finance Token, nearly doubled in price less than a week after FTX crash.
Besides Toon Finance Tokens TFT and Trust Wallet Tokens TWT, other decentralized projects like Uniswap, Biswap, Pancake swap, and Toon Swap also got a lot attention.
Despite FTXs crash and Ethereum dump, Toon Finance is still going strong with its ICO
With Toon Swap underway and many more benefits like NFTs and exclusive access to certain features while the project is at its infancy. This shows that Toon Finance has a lot to offer from the get-go, this is just the beginning too.
With a great start, more and more people are choosing Toon Finance Tokens over Ethereum ETH. People are buying Ethereum ETH by the hundreds using hundreds of thousands of Tether USDT and BUSD stable coin to achieve this result.
Status of Toon Finance’s ICO
Toon Finance managed to sell millions of its tokens on its first stage despite the fact that only 500 million will be sold for the presale. It blew past its 1st stage goals and currently at its second stage.
The token’s value almost doubled from stage 1 to stage 2 yet despite the higher cost, Etherscan shows that people are still buying it by the millions.
Is Toon Finance the next Pancakeswap?
What is Pancakeswap?
Pancake Swap is a decentralized exchange that allows users to perform automated trading. It is powered by Binance Smart Chain, specifically the BEP20 and shows great potential through its low transaction fees, fast transfers, and automated trading.
Pancake Swap is a solid decentralized exchange that offers good services for those who are just looking to trade some of their tokens from time to time.
Pancake Swap started a great trend in decentralized exchanges, proving that there is a future for these platforms.
Is Toon Finance the next Pancakeswap?
Toon Finance is more than just a decentralized exchange, it also offers many more features such as NFTs and exclusive access to certain features.
It is likely that it will surpass Pancake Swap because it provides many more features than Pancake Swap and is currently running one of the biggest ICOs in history.
Overall, Toon Finance looks incredible! But please don’t misunderstand, Pancake Swap is a solid DEX and is a much better choice than Binance or FTX. But Toon Finance is simply too superior because of its capabilities.
What is Toon Swap?
Toon Swap is Toon Finance’s own decentralized exchange, it is similar to the most popular exchanges like Binance, Uniswap, Biswap, and Pancake swap. It offers fast transactions and low transaction fees, these features make it one of the best DEX in the market.
Toon Swap also offers exclusive bonuses such as NFTs like Bored Ape Yacht Club, its cousin Mutant Ape Yacht Club, and Kongz. Incredibly popular NFTs will be found on Toon Swap because it has the Space Bridge feature that allows multiple chains to interlock with each other allowing smooth transfer of digital assets to multiple chains.
Toon Swap’s many features
Toon Swap will have trading of course, popular coins like Bitcoin BTC, Ethereum ETH, Binance BNB, Trilliant TRI, Solana SOL, and many more pairs will be added.
Of course stable coins such as Tether USDT and BUSD stable coins will also be available making is one of the most feature rich DEX you will encounter.
Toon Swap has P2E
If that’s not enough, Toon Finance will have p2e within Toon Swap itself! It will be called Space Battle Grounds and it will allow players and spectators alike to win tokens by the millions!
The games are simple and easy to learn while still allowing a lot of room for strategy for serious gamers that want to earn while playing.
All in all, Toon Finance is moving its high value token by the million because it has an amazing and feature rich project on its hands.
None of the information on this website is investment or financial advice and does not necessarily reflect the views of CryptoMode or the author. CryptoMode is not responsible for any financial losses sustained by acting on information provided on this website by its authors or clients. Always conduct your research before making financial commitments, especially with third-party reviews, presales, and other opportunities.
This news is republished from another source. You can check the original article here