YooShi

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Discover YooShi's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is YooShi?

YooShi (YOOSHI) is a decentralized finance (DeFi) play-to-earn (P2E) non-fungible token (NFT)-based gaming ecosystem on Binance Smart Chain. It started as a memecoin inspired by Yoshi from the Super Mario franchise but evolved into a metaverse-focused crypto with NFT offerings. The platform includes a game launchpad, game development system, and play-to-earn games, aiming to build the largest NFT-based gaming metaverse.

How is YooShi used?

YooShi (YOOSHI) is a decentralized finance (DeFi) play-to-earn (P2E) non-fungible token (NFT)-based gaming ecosystem on Binance Smart Chain. It started as a memecoin but has evolved into a metaverse-focused crypto with NFT offerings. The YooShi ecosystem consists of several play-to-earn games developed by various developers, an NFT marketplace, and DeFi services such as yield farming. Users can engage in these activities to earn money while having fun within the platform.

Key features of YooShi include:

  • YooShi GamePad: An accelerator for game developers to raise funds by preselling unique in-game assets as NFTs.
  • YooShi Labs: A DeFi game incubator providing technical support and tools for game developers.
  • P2E Guild Alliance (P2EGA): A play-to-earn game initiative allowing players to earn real value from their gaming experience.
  • NFT Marketplace: A platform for trading NFTs, which can also be used for DeFi purposes like yield farming.

YooShi's unique features include its NFT mining and gaming elements, deflationary nature, and rewarding structure for holders, making it attractive for long-term investors.

How do I store YooShi?

To store YooShi (YOOSHI) tokens, you have two primary options: storing on an exchange or using a non-custodial wallet.

Storing on an Exchange

Holding your YooShi (YOOSHI) on an exchange provides convenient access to various investment products and features, such as spot and futures trading, staking, lending, and more. The exchange will securely hold your funds, eliminating the need to manage and secure your private keys. However, it is crucial to select an exchange that implements strict security measures to ensure the safety of your crypto assets.

Non-Custodial Wallets

For enhanced security, you can withdraw your YooShi (YOOSHI) to a non-custodial wallet. This grants you complete control over your private keys. You can use various types of wallets, including hardware wallets, Web3 wallets, or paper wallets. This option may be less convenient if you wish to trade your YooShi (YOOSHI) frequently or use them for other activities. Be sure to store your private keys securely, as losing them can result in the permanent loss of your YooShi (YOOSHI).

How to buy YooShi?

To buy YooShi (YOOSHI) tokens, you can follow these steps:

Buying YooShi via a Centralized Exchange (CEX)
  1. Choose a CEX: Select a reliable and trustworthy crypto exchange that supports YooShi (YOOSHI) purchases. Consider the ease of use, fee structure, and supported payment methods when choosing a crypto exchange.

  2. Create an Account: Enter the required information and set a secure password. Enable 2FA using Google Authenticator and other security settings to add an extra layer of security to your account.

  3. Verify Your Identity: Complete KYC verification by providing the required information, which may vary based on your nationality and region.

  1. Add a Payment Method: Follow the instructions provided by the exchange to add a credit/debit card, bank account, or other supported payment method.

  2. Buy YooShi: You can buy YooShi (YOOSHI) using fiat currency if supported, or by first purchasing a popular cryptocurrency like USDT and then exchanging it for YooShi (YOOSHI).

Buying YooShi via a Decentralized Exchange (DEX)
  1. Choose a DEX: Select a decentralized exchange that supports YooShi (YOOSHI) trading.

  2. Download and Install a Wallet: Download and install a Web3 crypto wallet (like Metamask) or an App wallet (like Trust Wallet) supported by the DEX.

  3. Create and Set Up a Wallet: Create a new wallet address or import an existing one. Make sure to write down the seed phrase and keep it secure.

  1. Transfer Cryptocurrency: Transfer ETH, BNB, or other supported cryptocurrencies purchased by fiat to your self-custody crypto wallet address.

  2. Connect Wallet to DEX: Connect your wallet to the DEX by clicking "Connect Wallet" and following the instructions.

  3. Swap for YooShi: Find the "Swap" option on the DEX, choose the token you want to trade from the dropdown menu, and select YooShi in the "To" section. Enter the amount and confirm the swap.

Buying YooShi via a Crypto Wallet
  1. Choose a Wallet: Select a reliable and reputable crypto wallet that supports YooShi (YOOSHI) purchases.

  2. Download and Install the Wallet: Download the wallet application to your device from the Google Play Store, App Store, or as a browser extension.

  3. Create a Wallet: Create a new wallet address or import an existing one. Make sure to write down the seed phrase and keep it secure.

  1. Buy YooShi: Purchase YooShi (YOOSHI) using a supported payment method. Check the fees, as they may be higher than those charged by exchanges.

  2. Swap for YooShi: If your wallet doesn’t support direct fiat-to-YOOSHI purchases, you can first buy a more popular cryptocurrency like USDT and then exchange it for YooShi (YOOSHI) through your crypto wallet or on a decentralized exchange.

Remember to always check the fees and security measures before making a purchase.

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History of YooShi

YooShi, a cryptocurrency project, was launched in 2021. The founding team members chose to remain anonymous, which is not uncommon in the crypto space. Despite this, the project has managed to build a strong community, which is often a key factor in the success of such projects.

YooShi started as a simple memecoin project, inspired by the character Yoshi from the Super Mario franchise. However, the team saw an opportunity to expand its scope and create something more substantial. The project evolved into a metaverse-focused cryptocurrency with various NFT functionalities, drawing inspiration from successful memecoin projects like Shiba Inu.

The YooShi ecosystem includes several key features, such as the YooShi GamePad, which serves as a fundraising platform for blockchain-based games. Developers can use this platform to raise funds by selling exclusive in-game items represented by non-fungible tokens (NFTs). Additionally, YooShi offers a play-to-earn (P2E) game, an NFT marketplace, and yield farms. The project also has a unique feature called the YooShi BOX, which is a type of blind box inspired by yield farming. Users can purchase these boxes with YOOSHI tokens and receive a random NFT, along with a share of 3% in transaction fees.

YooShi is a community-driven platform, with no involvement from its creators in governance. The project is secured via the Proof-of-Stake (PoS) consensus mechanism, as it is deployed on the BNB Smart Chain. The YOOSHI token is based on the BEP-20 token standard and has a maximum supply of 1,000,000,000,000,000 tokens. The token's core functionality is to generate yield, with a share of transaction fees distributed to all YOOSHI holders.

Overall, YooShi has evolved from a simple memecoin into a comprehensive metaverse project with various features and functionalities, aiming to build the largest NFT-based gaming metaverse.

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How YooShi works

YooShi (YOOSHI) is a decentralized digital currency that operates on the Binance Smart Chain (BSC). It is designed to combine elements of GameFi, NFTs, and meme coins, aiming to create a blockchain gaming NFT metaverse. Here's how it works:

Key Features
  • Consensus Algorithm: YooShi uses a Proof of Stake (PoS) consensus algorithm, which ensures the security and integrity of transactions. Users can participate in the network by staking their YooShi tokens and earn rewards for validating transactions.
  • Smart Contracts: The platform supports smart contracts, allowing developers to build decentralized applications (dApps) on top of the YooShi blockchain.
  • NFT Marketplace: YooShi offers an NFT marketplace where users can bid for different NFTs. These NFTs can later be used for DeFi purposes such as yield farming.
  • Play-to-Earn Games: The ecosystem consists of various play-to-earn games developed by different developers. Users can earn rewards by participating in these games.
  • Burning Mechanism: YooShi is a deflationary coin, meaning that 10% of the total supply will be gradually burned as the user base grows.
  • Staking and Rewards: Users can stake NFTs to earn rewards. The earlier users stake NFTs, the more they can yield. Additionally, 3% of all transaction fees are injected into NFT farming, and 4% are distributed to holders through safe auto-farming.
Functionality
  • Token Supply: The total supply of YooShi is 1,000,000,000,000,000 YOOSHI, with a circulating supply of over 371 billion YOOSHI.
  • Transactions: YooShi allows for fast and low-cost transactions, thanks to its advanced blockchain technology.
  • Security: The platform prioritizes security, ensuring that digital assets are protected from potential threats.
Community and Development
  • Community-Driven: YooShi is a community-driven project, with no presale, no team allocation, and no one owning the contract key.
  • Game Developers: The platform provides an open platform for game developers to launch their games and promote them to the large community of YOOSHI holders.
  • Evolution: As the community grows, the properties and functions of YooShi are designed to evolve further.

Overall, YooShi aims to create a comprehensive ecosystem that combines gaming, NFTs, and decentralized finance, providing users with a unique and engaging experience.

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YooShi's strengths

The token YooShi (YOOSHI) has several strengths that contribute to its potential and appeal:

  1. Community-Driven: YooShi is a community-driven project, which means that it relies on the collective efforts and engagement of its user base. This community-driven approach can foster a sense of ownership and encourage active participation in the project's development and growth.

  2. GameFi and NFT Integration: YooShi combines elements of GameFi (gaming finance) and NFTs (non-fungible tokens), creating a unique ecosystem that offers a range of play-to-earn games and an NFT marketplace. This integration can attract users interested in both gaming and NFTs.

  3. Deflationary Mechanism: YooShi has a deflationary mechanism in place, where 10% of the total supply will be gradually burned as the user base grows. This mechanism can help reduce the token's supply over time, potentially increasing its value.

  1. Yield Generation: YooShi is a yield generation token, allowing holders to earn rewards simply by holding the token in their wallets. This feature can incentivize users to hold onto their tokens, which can help stabilize the token's price and increase its adoption.

  2. Binance Smart Chain (BSC): YooShi is built on the Binance Smart Chain, which provides a robust and scalable infrastructure for the token's operations. This can ensure faster and more cost-effective transactions compared to other blockchain networks.

These strengths collectively contribute to YooShi's potential as a cryptocurrency project, offering a unique blend of gaming, NFTs, and yield generation within a community-driven ecosystem.

YooShi's risks

YooShi (YOOSHI) is considered a high-risk investment due to its risk gauge score, which translates to a high risk assessment for portfolio managers who heavily weigh risk factors. Additionally, investing in YooShi, like any other cryptocurrency, involves extensive research, analysis, and consideration of risk factors to ensure safe investment practices.

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Did YooShi raise funds?

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YooShi’s team

  • Founder and Team Members: The team behind YooShi includes the founder and several other members who are not explicitly named. The founder is responsible for leading the project's vision and strategy, while other team members contribute to the development, marketing, and community engagement aspects of the project.

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