Community Yield Farming (CYF), an African development platform, has created a token that is community driven and only for crypto traders from Africa.
The Binance Smart Chain (BSC) launched the CYF community-driven token. It is deflationary, has a distinct minting feature, and a limited supply 100T CYF.
The token includes an algorithm that is designed to give value to its community and promote crypto adoption through active ecosystems. As reported The press release explains that the token gives its owners some features like rug pull-proof, community rewards, and self-providing liquidity.
It also rewards its owners through a unique smart minting process that redistributes as much as 35% of token sales back to the community. Additionally, the token increases liquidity by creating and growing a community reward program.
CYF represents the African community. It focuses on Africa’s future, and primarily in its development. Technology The digital sector. This platform will promote crypto adoption on the African continent through reflections on global issues that affect cryptocurrency adoption.
The platform’s most recent token launch saw prominent investors worldwide like Wolf of Congo invest in the project. CYF isn’t the only platform that wants to promote crypto adoption in Africa. In May, crypto exchange Mara Raised $23 Million In funding for the construction of a trading platform specifically designed for Africans.
According to Blockchain.News, funding was received from Coinbase Ventures and Alameda Research (as reported by Blockchain.News).FTX), DIGITAL, Nexo, Huobi Ventures, and nearly 100 other crypto investors in the industry.
While some organizations and firms are trying to encourage crypto adoption in Africa, others are already moving towards this digital currency.
The Central African Republic (CAR), was established in April of this year. Bitcoin has been adopted as a legal currency, taking the second place after El Salvador in adopting cryptocurrency.