$MOCHA, a deflationary token with the slogan ‘the new flavour of the Binance Smart Chain’ can now be purchased at CafeDEX. CafeSwap Finance has recently held its first IFO, which coincided with the DeFi platform’s newly released secondary token, $MOCHA. The sale was set up to raise $1M in total, and the funds were realised within two minutes of the sale.
During the CafeSwap Finance 1st IFO, 35,000 $MOCHA were offered for sale at $30 each. The exercise lasted barely 2 minutes as investors rushed to have the deflationary token. Currently, $MOCHA is trading at $60 per token. With the successful completion of the MOCHA IFO, 65 $MOCHA tokens were burned, reducing the deflationary token’s already capped 500,000 supply.
Following the success of the $MOCHA IFO, we talked to CafeSwap Global Marketing Manager, Murat Yilmaz about the future of the deflationary token, the De-Fi platform’s native token, $BREW, and their plans for the CafeSwap Finance ecosystem.
Here’s what Mr Murat YILMAZ had to say:
First of all, thank you very much to all Brewers (CafeSwap investors) for their continued interest in CafeSwap, right from the pre-sale of $BREW, and now, $MOCHA. The trading of $MOCHA token is now live on CafeSwap Dex so interested investors can purchase it right away on CafeDEX. 288 $MOCHA tokens will be released daily through farming and staking. Right now, staking and liquidity pools have been opened for $MOCHA, making it possible to earn the deflationary token. $MOCHA is a deflationary token, so its supply decreases with every transaction, resulting in a decline in the total supply of the rare token with each passing day. Yet, the most important part for many will be the deflationary token’s role in Dual Farming & NFT Dual Reward Booster.
What happens next?
In a few weeks, our dual farming event will start. Also, we expect $BREW to be listed on an exchange this month.
We will continue to work hard for the success of the CafeSwap Finance ecosystem, ensuring our investors’ trust in us are duly paid. We will continue to develop and grow as a team and as a project.
Will there be new collaborations and IFOs?
New collaborations are indispensable in the DEFI space, and we are open to every new offer. There are ongoing meetings with notable platforms within the De-Fi space, so I recommend our investors stay informed by following us on our social networks. Also, there will be new IFOs. We don’t intend to rush the process, rather we’re being meticulous with the selection process.
I saw Multi-Chain on your roadmap, can you explain a little bit?
CafeSwap started on the Binance Smartchain. Initially, the goal was to provide De-Fi benefits at the lowest transaction fees possible for our investors. While the BSC network fits these objectives, we are open to integrating other chains that are in sync with these objectives as well. We are currently working on expanding CafeSwap to other chains, and we will keep our community posted on the progress made. However, Matic A.K.A Polygon has been earmarked for this CafeSwap expansion. Being a truly decentralized platform, CafeSwap aims to be the best De-Fi solution across multiple blockchains.
Here’s a little teaser: CafeSwap is at the moment liaising with Polygon on our protocol’s cross-chain development on that blockchain. The CafeDEX will be the initial product of CafeSwap on Polygon. Afterwards, the yield farming and yield optimization strategies will be expanded to the Polygon network.
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