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Toon Finance Wants To Preserve Crypto’s Decentralized Status, Here’s Why

4 min ago6 min readOther
Toon Finance Wants To Preserve Crypto’s Decentralized Status, Here’s Why

Cryptocurrencies have been extremely popular for a long time, and for good reason. The decentralized nature of these digital assets has attracted plenty of attention and investment from traders all over the world and continues to do so even today despite the ongoing bear market. However, most investors prefer to stick with what is trending and promises astronomical returns such as DOGE, SHIB, SAFEMOON, and so on which may be profitable in the short term but can be particularly dangerous in the long run. One need only observe the Terra (LUNA) situation as well as what’s currently going on with FTX as proof of this.

With that being said, there is a clear need for reliable, trustworthy and transparent projects which can provide real utility and substantial profits. Toon Finance Protocol looks to be considered among these initiatives, and despite only being a month old, the platform has already become the fastest growing community on CoinMarketCap and also secured a placement on Crypto.com.

The curious case of DOGE and SHIB

Even those who are not too familiar with crypto would most likely have heard of Dogecoin (DOGE). DOGE is Elon Musk’s favorite crypto and he has often publicly declared his support of it, which has previously led to some interesting developments in the crypto market. Shiba Inu (SHIB), another canine-themed crypto, has gained quite the cult following wherein its sizable number of supporters are known as the ‘Shib Army’.

Of course, the main reason most investors would even choose these options is to ‘get rich quick’. This is the side of crypto that most people would associate the industry with, and while it has led to many investors making substantial profits, it has also resulted in significant losses. What’s more is that a vast majority of these types of crypto projects often lack any kind of long-term utility or possible use cases.

Why are decentralized exchanges needed?

While Binance maintains its status as the world’s largest crypto exchange, especially after the recent controversy involving another exchange by the name of FTX, it is still a centralized exchange. This means that although users can buy, sell and trade crypto and NFTs there, third parties would still be involved.

This is why many crypto investors prefer to rely on decentralized exchanges instead like Uniswap and PancakeSwap as they provide higher returns and less regulatory involvement. However, this unfortunately also means that there are less chances of recovering stolen funds. Moreover, a wide array of innovative projects are built on Uniswap including Toon Finance.

Why is it important for crypto to stay decentralized?

One of the main selling points of crypto is its decentralized status, which refers to the absence of any third-parties or intermediaries. Some of the most popular DEXs include the likes of PancakeSwap and Uniswap. However, crypto has been steadily becoming increasingly centralized as of late. The CEO of Binance, the world’s largest crypto exchange, often talks about the importance of regulation and working alongside the law. While exchanges should of course do their utmost to ensure that no laws are being broken, a centralized status would effectively eliminate what made crypto popular in the first place.

With that in mind, Toon Finance Protocol is wholeheartedly committed to preserving crypto’s decentralized characteristics while also bringing in new cryptocurrency users into the appropriate channels first rather than directing them to a platform they are unfamiliar with or aren’t that knowledgeable about where they may also be taken advantage of. In addition, Toon Finance acknowledges the importance and growing relevance of the metaverse concept and is therefore also interested in expanding on the concept of the P2E (Play-to-Earn) metaverse.

What does Toon Finance provide?

The platform aims to provide a variety of new and beneficial products and services, and the Toon Team sincerely hopes that everyone has an enjoyable and financially viable experience. Toon Community members are also advised to stay tuned for what the team has in store, as well as to keep an eye on all social media channels for the most up-to-date information. While Toon Finance has already been successful thus far, this is just the beginning. Future objectives include listing the native token, TFT, on CoinGecko, concentrating on video production, finalizing the billboard map layout, and much more, as detailed on the official roadmap.

Moreover, Dessert Finance is presently auditing Toon Finance. Numerous individuals believe that Toon Finance Protocol is here for the long haul and will continually contribute to the growing DeFi community as the platform recognizes the significance of incorporating dependable security measures to safeguard the users at all times as after all, safety is paramount in this industry. The team is also adamant about transparency and decentralization in order to empower the Toon Community to freely express themselves in a standard deemed socially acceptable.

In addition, the team recognizes that in a decentralized environment, transparency is essential to users’ ability to rely on the platform they regularly utilize to facilitate, manage and transfer their transactions in an effective and timely fashion.

Lastly, as the platform looks to maintain the decentralized status of this sector, the team members and developers prefer to stay anonymous but this does not mean that they aren’t actively working towards providing the best service and platform features that any decentralized exchange can provide.

Is Toon Finance worth it?

Ultimately, there is no shortage of choices when it comes to this burgeoning sector, but Toon Finance looks to be among the top projects which can not only stand the test of time, but one that would routinely offer reliable services and features to its users. The platform was created by a consortium of market leaders and blockchain developers with the objective of resolving the industry’s externality, specifically pertaining to the demand associated with P2E. To that end, the team supplemented a P2E metaverse by having it be protected via SHA256 encryption. Naturally, Toon Finance Protocol also offers trading functionalities for non-fungible tokens, cryptocurrencies, and blockchains, all in a single location which makes everything more convenient.

Toon Finance aspires to be more than a team or a typical ‘hype-based’ project. The platform aims to provide genuine value to DeFi users and enthusiasts while evolving in tandem with the market. The team will also use advanced technologies on a regular basis to continually provide innovative services and features. Toon Finance is working on some exciting updates, such as allowing users to join the Space Battle Grounds or go on an Advance with their friends through the P2E lobby. Essentially, Toon Finance has something for everyone and is one project that everyone should be keeping an eye on going forward.

Visit the official website, as well as the Medium and Twitter channels, for additional information.

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