Based on data from Chainalysis, Africa is one of the fastest-growing crypto markets in the world. Kenya, Nigeria, and South Africa have the highest number of users in the region. Many people use crypto assets for commercial payments, but their volatility makes them unsuitable as a store of value.
This growth in the continent brings on the need for a system that accommodates inter-border payments of crypto. In this case, Afroconomy.
What is Afroconomy?
Afroconomy, a reference to the creation of one Africa, aims at developing inter-border payments around Africa. Such steps have been challenging to reach due to the substantial bureaucratic difference in governance between nations in the continent.
The main person behind the idea is Dr. Feyiseye Fadeni (Ph.D.), conceiving it in 2019, with the dev team working to bring it into reality.
Besides, the platform exposes the talents and resources in Africa, with the assistance of decentralization of wealth coming through the Afroconomy Coin.
Afroconomy Coin (AFC) is the native token of the Afroconomy platform, which, with their vision, will play as a means of payment, in which one can earn it also through rewards.
Additionally, Afroconomy aims to make AFC a mode of payment that is convenient and secure across the continent without intermediaries.
With the work put into the project, it finally launched on 13th February 2023.
Anyone can trade AFC on Pancakeswap
The Underlying Problem in Inter-Border Payments and the Solution by Afroconomy
From the adoption of crypto throughout the world, Africa remains the smallest but the fastest in adoption. However, there remains a barrier in governmental regulations between nations. As a result, carrying out cross-border transactions becomes an unending problem.
However, here comes Afroconomy, revolutionizing cross-border payments in Africa. It will create a digital marketplace for talents to come together and instantly enable payments.
Afroconomy Coin Tokenomics. Will it Pull a 1000x?
Afroconomy’s token allows for different uses, which range from buying goods, and promoting products and services, to paying for subscriptions. Besides, the token also allows for rewarding community members who participate in the promotion and the ecosystem’s growth.
The token has 1,000,000,000 units, of which 12% was burnt on launch. In addition, 9% of the total supply is set for rewards, and 7.5% is given to the team. On every transaction and transfer, there is a 2% tax, which assists in the marketing and development of the project, buybacks, and charity.
Final Thoughts
There is a well-versed team behind the project, with an unmistakable touch toward greatness. Its roadmap is set from Q1 to Q4 2023, with significant and innovative developments to produce a complete product.
You can bet that AFC can pull a 1000x, as from launch, only into the third day, it has already hit 10x, with the community still growing.
Important Links
Twitter: https://twitter.com/afroconomycoin
Telegram Channel: https://t.me/afroconomy
Telegram Group: https://twitter.com/afroconomycoin
Buy on Pancakeswap: https://pancakeswap.finance/swap?outputCurrency=0x460a40ae7114d65852d7574e3382f09b688b248d&chainId=56
DexScreener: https://dexscreener.com/bsc/0xb188a2aeae7a5ad4f403df8c0ef0218d6daf763a
Whitepaper: https://d2oaa09grjl0br.cloudfront.net/f5cabdea-9bc2-4d7a-9bd8-cf756ceea101/coin/docs/afroconomycoin-white-paper.pdf