Goose Finance update: EGG Live price, price chart, news and markets

What Is EggCoin?

EggCoin is a second-generation yield farming mechanism that enables perpetual price increase while providing a sustainable and profitable farming yield and a timelock contract. It was launched in February 2021.

EggCoin aims to address the issue of significant market fluctuations in decentralized finance ( DeFi ) caused by large sums of money being invested or withdrawn by users. The unique burning mechanism works as follows: when users stake, all of the farms experience a 4% burn. Of this, 3% is used to purchase the Golden Egg token, which is then sent to the lottery pool, and 1% is allocated for platform development.

EggCoin has taken steps to prevent rug pulling by eliminating the migrator code inherited from PancakeSwap , and applying a timelock at launch.

Who Are the Founders of EggCoin?

As of March 2021, the team behind EggCoin remains anonymous.

What Makes EggCoin Unique?

EggCoin is a layered farming incubator. It introduces new farms every 14 days, allowing users to participate continuously, thereby addressing the issue of inflation. One new layer token called Layer "X" Goose is introduced every 14 days, which occurs in two ways.

The first way is through an Initial DEX offering (IDO) that takes place one to three days before layer farming begins. The conversion rate for the IDO is set at 1:3. All pledged layer 0 eggs are then burnt. The initial liquidity price of the layers is typically set at around 2x the price of the IDO.

The second way involves pledging layer 0 eggs into a nest that generates Layer "X" Goose indefinitely without the ability to unstake.

EggCoin also incorporates an omega lottery burning mechanism, where all farms have a 4% burning fee per stake. Of this fee, 3% is used to purchase Golden Egg and inject it into the lottery pool. The burning fee, which accounts for 20% of the lottery pool, as well as the lottery ticket costs, are also burnt.

The EggCoin token is a BEP-20 token that operates on the Binance Smart Chain.

Related Pages:

Read more about eBoost .

Read more about OMG Network .

Learn how to gift someone crypto on CMC Alexandria .

Enhance your knowledge of cryptocurrencies with the CoinMarketCap blog .

How Many EggCoin Coins Are There in Circulation?

As of March 2021, EggCoin has a circulating supply of 1,089,885 EGG, with no available data on the maximum supply.

How Is the EggCoin Network Secured?

EggCoin aims to create a safer environment for yield farming. They have eliminated the migrator backdoor found in PancakeSwap and SushiSwap ( SUSHI ).

By implementing the code, the team ensures that they cannot tamper with assets, thereby safeguarding funds. Additionally, a timelock was added to the contract at launch.

Where Can You Buy EggCoin?

EggCoin can be traded on the following exchanges:

• PancakeSwap
• OpenOcean

Learn more about how to purchase Bitcoin and other cryptocurrencies by reading CoinMarketCap's dedicated guide .