USE CASES OF THE BOOM CRYPTO MARKET TOKEN (BCM)

 

Boom Crypto Market Token (BCM) doubles as the native platform and utility token of the broader Boom Crypto Market ecosystem.

The token has many use cases, as would be discussed in this article. The aim is to help you make the most out of this crypto token.

1- BASE TOKEN FOR BOOM CRYPTO MARKET
Boom Crypto Market is a decentralized platform that offers multiple Decentralized Finance (DeFi) services, such as a decentralized marketplace and a decentralized crypto-asset staking platform.

Thus, the Boom Crypto Market Token will be the base crypto token that powers most of the transactions in the broader Boom Crypto Market platform.
From remote service providers to service buyers, the Boom Crypto Market Token (BCM) will be used to facilitate most of the transactions in the platform.

2- MULTIPLE TRADING PAIRS
The Boom Crypto Market Token (BCM) will also be traded alongside multiple crypto-assets. This is part of the goal to create a truly decentralized ecosystem where the users can use a wide range of crypto-assets.

Some of the supported currencies that will trade against the Boom Crypto Market Token (BCM) are:

• MOR
• BUSD
• Binance Coin (BNB)

3- DECENTRALIZED MARKETPLACE CURRENCY
Boom Crypto Market set up a decentralized marketplace for professionals who are looking to offer their skills remotely.

In this decentralized freelance marketplace, you can use the Boom Crypto Market Token (BCM) to accept payments for the services you rendered to clients.

The BCM Token can also be used as payment for other services offered in the decentralized marketplace. Some of the services you can use the token to pay for are:

• Project adverts
• Professional adverts
• Promotions

4- PAYMENT FOR TRANSACTION FEES
The Boom Crypto Market Token (BCM) can also be used as payment for transaction fees associated with any transaction you are making on the platform.
In this case, you can decide to settle the transaction or network fees using the BCM Token or the other supported crypto-assets, such as MOR and BUSD.

5- **FROM TRANSACTION FEES TO REWARDS **
Asides from the several use cases of the BCM Token, the Boom Crypto Market platform also has an additional use for the token.

This time, you can use the token in both ways – paying for or settling your transaction fees and providing incentives.

For the latter, the BCM Token used to settle transaction fees would, in turn, be used as rewards for Liquidity Providers (LPs) who contributed liquidity to bolster transactions in the broader Boom Crypto Market ecosystem. Also, the fees generated from the transactions will be used to rewards investors who staked or invested their crypto-assets in the pool to earn passive income.

WRAPPING UP
The use cases of the Boom Crypto Market Token (BCM) are a pointer to the fact that the token can be used for several reasons.
From paying for services offered in the decentralized freelance platform to incentivizing the investors – the BCM Token is what you need to maximize your use of the broader Boom Crypto Market ecosystem.

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