What Is YooShi?
YooShi is a decentralized finance (DeFi) play-to-earn (P2E) non-fungible token (NFT)-based gaming ecosystem on Binance Smart Chain. It started as a memecoin and has now evolved into a metaverse-focused cryptocurrency with various NFT functionalities. YooShi is the first initial DEX offering (IDO) platform on Binance Smart Chain for NFT-based gaming projects, earning its slot in Binance’s Most Valuable Builder II program — an initiative that analyzes hundreds of BSC NFT projects and picks the most exciting ones.
Why the Name YooShi?
YooShi is a pun for “Yoshi,” a nod to the lovable green character of the Super Mario video game franchise.. This origin story highlights the project’s meme inspiration and early beginnings.
However, YooShi is shaping up to be more than just a memecoin. The project seeks to build the YooShi metaverse with various features including a fully functional game launchpad, a game development system and its own play-to-earn game with NFT integration.
The YooShi platform has seen significant traction since its launch early this year with a tremendous 30-day performance in early November. YooShi’s price behavior imitates other popular memecoins like Shiba Inu (SHIB) and Dogecoin (DOGE), both of which have broken into the top 10 cryptocurrencies by market cap.
How Does YooShi Work?
The YooShi ecosystem is a multi-faceted DeFi platform with varying features and capabilities governed by its native decentralized memecoin, YOOSHI. YooShi is building a metaverse with embedded play-to-earn attributes, creating a world where players can have fun and earn money simultaneously.
The core functionalities of the YooShi platform can be broken down into three basic concepts:
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YooShi GamePad: The YooShi gamepad functions as an accelerator for game developers, allowing them to raise funds to pursue their projects by preselling unique in-game assets in the form of NFTs.
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YooShi Labs: YooShi Labs is a DeFi game incubator that provides GameFi game developers with technical support and the necessary tools to design their games and bring their ideas to life.
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P2E Guild Alliance (P2EGA): P2EGA is YooShi’s play-to-earn game initiative. YooShi’s game will feature P2E mechanics allowing players to have fun and extract real value from their gaming experience.
The YooShi platform has a dedicated NFT marketplace for actioning NFTs. YooShi has DeFi options for its users, like an auto farming mechanism that rewards holders of the YOOSHI token with 4% of all transaction fees on the platform. An NFT yield farming system also allows YooShi NFT holders to leverage their NFTs for yield farming.
Source: https://coinmarketcap.com/alexandria/article/what-is-yooshi-yooshi
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