Its website may be plastered with images of crying face emojis and its token ticker may show up as a “LOL”, but don’t let this fool you: EMOGI Network is serious business. The self-described “social digital currency” promises to deliver on all attributes that are meant to be synonymous with cryptocurrencies, which stand for low-cost transactions that can be sent quickly and directly, in a peer to peer fashion.
Microtransactions, including tipping on social networks, are amongst use cases envisaged for EMOGI Network’s LOL token, which operates on its own native blockchain. LOL token’s architects planned it that way. Without going with the flow and launching on Ethereum, EMOGI is able to keep transactional costs down without compromising on decentralization. A proof-of-stake algorithm, coupled with a staking model supported by 6 million users across EMOGI’s Berminal and Bermi apps, ensures that the network is sufficiently distributed. This setup also gives token-holders an incentive to earn through staking tokens within the mobile app.
EMOGI Targets the Mobile Market
Strong fundamentals alone don’t send a token’s value upward. There needs to be enough liquidity coupled with genuine user-side demand. EMOGI appears to have already taken care of the latter, while the former – liquidity – just got a major leg-up thanks to listing of the token on Huobi Prime on August 15. It has now become the fifth project to launch as an IEO on the Asian exchange, a fitting platform for a continent whose love of mobile technology is matched by its love of emojis.
A Serious Team With a Sense of Humor
Any project that styles its branding around emojis must have an associated sense of humor, but EMOGI’s fun-loving exterior belies a business-minded interior. The team includes two co-founders of IOST,