The crypto industry is expanding by the minute. Every day we see a new crypto concept or project being discussed on crypto news outlets and blogs. Now people seem to be more interested in investing in crypto- and blockchain-based projects than ever before. TAG Protocol is one such project that is getting ground among crypto investors and traders all over the world.
Tag Protocol is a digital autonomous organization offering hashtag registry, staking, and trading services on BSC (Binance Smart Chain). Users can register and own unique hashtags generated on social media platforms such as Twitter. Owning a hashtag is similar to registering and owning web domain names. Users can use hashtags to earn native protocol coin Tagcoin by joining the hashtag staking pool daily.
Tagcoin can be exchanged with other cryptocurrencies such as USDT, BNB at market rate using the Tag Exchange. Moreover, users can also trade hashtags with other users for other cryptocurrencies using Hashtag Auction Marketplace.
Types of Services Offered by TAG Protocol
The TAG Protocol ecosystem is comprised of six services: Hashtag registry, Hashtag Auctions, Hashtag Staking, Performance Oracles, Tag Exchange, and Decentralized Invitation Program.
Hashtag Registry – The key function of the registry is to accept users’ requests to register a new Hashtag and validate a new Hashtag NFT token, so the newly-minted NFT tokens can easily be transferred to users’ wallet.
Hashtag Auctions – As its name suggests, this service allows users to list and receive bids on their hashtag tokens. Bids on other users’ listed hashtags can be also sent.
Hashtag Staking – This service is dedicated to those who stack their hashtag NFTs to mine and collect Tagcoin based on the performance of Twitter.
Performance Oracles – Oracles are peer-to-peer independent external data aggregators that measure and collect Twitter data of staked hashtags and classify them based on their performance and transmit this data to Hashtag Staking Contract to distribute Tagcoins to staked hashtags.
Decentralized Invitation Program – TAG Protocol employs a decentralized invitation program to track users’ invites and evaluate commission. All the payment issues and commission claims are managed by this service.
Tag Exchange – It’s an AMM-based exchange that lets users exchange their Tagcoin with other crypto-currencies. They can also earn extra income by depositing multiple digital currencies into the liquidity pools.
Tagprotocal is 100% decentralized and simply turns social media hashtags into unique NFTs. Since it is the world’s first crypto project to offer performance-based NFT, it has the potential to grow manifold in the near future. Getting Started on the TAG Protocol is super easier. You are required to complete three steps: 1) Downloading a Dapp Wallet that is compatible with Binance Chain Contract, 2) buying Binance coins and sending them to your wallet, 3) keeping referral address ready.
If you or anyone you know is looking for one such unique crypto idea, TAG Protocol may be the best choice. You can visit their official website to know more in detail and clear away any doubts you may have about how TAG Protocol works.