Introduction
CUE Protocol was launched recently (in March 2021) on BSC (Binance Smart Chain) which has been already audited and approved by RD Audits. It’s a protocol that is driven by a community that offers true mechanics and use cases of a deflationary system.
CUE Protocol is not like other deflationary projects which work only when the token is traded and consist of just the transaction fee. Unlike other platforms, CUE protocol is built on top of its protocol which makes it truly deflationary through the company’s DApps (Decentralized Applications) which will use the CUE token. Moreover, the governance wallet of this protocol collects 2.5 percent of each transaction and it’ll be entirely up to the community to decide its fate. The protocol allows them to vote which will decide whether to use that collected percentage on development and marketing or to burn it completely as well as other options.
Tokenomics
Comparatively the total supply of CUE is very low which is only 10,000 CUEs. Here’s the distribution of CUE tokens that you need to know.
- Total Supply: 10,000 CUEs
- Pre-Sale Tokens: 8,000 CUEs available for pre-sale
- Locked Liquidity: 2,000 CUEs (They are locked for liquidity at the end of the pre-sale on PancakeSwap listing.
As mentioned, 2.5 percent of the fee on each transaction goes to the CUE protocol’s governance wallet and at regular intervals, the holders will decide what to do with that. The current supply of the total available tokens is about 8,000 and its calculation is as followed:
10,000 – 2,000 (liquidity locked for one year) = 8,000.
Governance and Voting
As mentioned, the CUE protocol is a community-driven platform. In order to live up to that claim, the team behind the protocol has given its governance wallet to its community. The token holders will decide how to spend the tokens collected in the governance wallet.
The DApps of the CUE protocol aims to generate purchase pressure for the tokens to use the platform’s services. All the services that the protocol offers will be paid for in CUE. That’s because the team behind the system has implemented a decent percentage of share between governance and company profit. Moreover, these tokens then further will be divided into government funds and company funds.
For instance, the users could either decide to use that collected CUEs for marketing and development or to burn them. If they choose to burn the token collected for the service in the governance wallet then selling the services will decrease the total supply. It makes the CUE protocol’s token model a unique and excellent deflationary system.
DApps
The CUE protocol aims to develop multiple DApps and its first one is already live. It’s basically a voting decentralized application that will allow the token holders to vote for the platform’s governance wallet to decide its fate. It’s available on CUE Protocol Hub which is a place where all the DApps from the CUE protocol will appear. The second DApp which is on its way will allow the crypto investors to keep themselves from potential rug projects. It will also provide them with sufficient information to make better and informed investment decisions. This app is going to fill a huge gap because crypto investors fall victim to potentially rug projects every day.
Another important point about the client service fee is that a portion of it also goes to the developer wallet. The company can consume it by selling these tokens. But the fact of the matter is that it’ll be way less than the tokens that the users bought. That’s because of the fixed percentage of the service fee that will be added to the governance wallet.
For example, if a user purchases 20 CUEs and he spends all of them by using CUE Protocol’s DApp, then 8 CUEs will go to the developer wallet and 12 CUEs will go to the governance wallet. 8 CUEs are sold by the team and it means that 12 CUEs are taken off the market. In simple words, it signifies that the platform is extremely deflationary even though a sale took place. Not only does it ensure the value of the token but it also ensures that users will need to use them in order to access the services. Moreover, with time it will deflate which will increase its value because of the market demand. It’s also possible that in order to access the CUE protocols DApps you’ll need to hold minimum CUE tokens for a certain period of time to ensure the increase in demand.
About the Team
The team behind CUE protocol is highly expert and qualified. Previously (before entering the crypto world) all of them were busy developing enterprise solutions for all the major available platforms such as Android, iOS, web, and desktop. It certainly doesn’t mean that the team is new to the crypto world. They have been in this world for years now. The team believes that it was more important than ever for them to execute their unique ideas and CUE protocol is the result. CUE protocol is based in the UK with multiple developers and managers and they work remotely and stay connected with one another throughout the day. The aim of the CUE protocol is to benefit the whole crypto world especially future investors. Continuous development of innovative DApps and improving security are two of the main objectives of the team to build more trust and to empower and improve its community.
Source: BSCDaily.com
