Since MongCoin’s (ETH: $MONG) humble beginnings as a joke by a Congressman, it has grown into a fully formed ecosystem.
In a previous report, we provided an overview of the $MONG token. We dig deeper in today’s feature article, in which we will detail the specific components of the $MONG ecosystem.
One of the latest additions to the MongCoin ecosystem is the $MONG Community Development Fund, that has set $MONG apart from other meme coins. The fund received an allocation of 3 trillion $MONG tokens, which will be used to develop the MongCoin ecosystem with a focus on content production, cultural promotions such as live shows, and collaborations with well-known brands. If it bears fruit, the $MONG community will provide more funding for the development fund.
MongsNFT Collaboration
An important aspect of the MongCoin ecosystem is the MongsNFT collection. The developers of $MONG tokens launched these NFTs alongside the MongsNFT team. All MongsNFT holders are eligible to receive 6.9% in $MONG rewards. These rewards are distributed when certain milestones are reached.
The Hamster Coin
Hamster Coin (MONG: $HAMSTR) is among the most important projects launched within the MongCoin ecosystem. $HAMSTR is not just another meme coin; it is designed to bring a new twist to the $MONG tokens. These tokens were launched with an exclusive $HAMSTR/$MONG pair.
The $HAMSTR tokens were distributed to the $MONG community via claim drop, with some of the tokens being used as rewards for MongsNFT, $MONG, and Mongoose V1 holders. Making the purchase of $HAMSTR exclusive to $MONG tokens creates a perfect opportunity to boost $MONG’s liquidity. Accordingly, it eliminates the need to sell $MONG for ETH to acquire $HAMSTR.
[Click The $HAMSTR Chart Above To Trade On DexTools]
The COBRA Coin
Another important addition to the MongCoin ecosystem was Cobra Coin (MONG: $COBRA). The merge was born out of a need by the $MONG developers to create a Decentralized Exchange (DEX) for all the projects paired with $MONG. They named their new DEX, MongSwap. To launch it, they have been working with the Cobra Coin team, which was already working on such a concept. The Cobra Coin DEX was rebranded into the Mong Swap DEX, providing a place to trade all existing official $MONG pairs.
First, the two began working on a $COBRA/$MONG pair. The trading pair is now live, with a liquidity of $260K, up from $20K; it can be accessed via DexTools. As part of the collaboration, 6.9% of all $COBRA tokens will be allocated to MongsNFT holders.
[Click The $COBRA Chart Above To Trade On DexTools]
Congress Coin
Congress Coin ($CONG) is one of the most crucial trading pairs of the $MONG ecosystem. It is designed to decentralize the decision-making in the $MONG ecosystem via a token-based governance system known as the MONGRESS.
The $CONG/$MONG trading pair currently has $49.67K in liquidity, with daily trading volumes of $3.87K. $CONG tokens do not have taxes, the LP is locked, and the contract has been renounced. All DAO treasury funds can be tracked via the ENS name, Mongress.eth.
[Click The $COBRA Chart Above To Trade On DexTools]
KUDOE Integration
Another important addition to the $MONG ecosystem is the collaboration with the Kudoe project (ETH: $KDOE). The collaboration will entail the integration of $MONG tokens into the DOE Rangers game. Additionally, MongsNFT holders will receive special character animations with unique weapon attributes. The Kudoe project, with its native $KDOE token, has already been quite successful. The collaboration with MongCoin will help to boost the use cases for the $MONG tokens, while also bringing new users into an already massive ecosystem.
[Click The $KDOE Chart Above To Trade On DexTools]
Cash Mongy Integration
On June 7, a MongCoin token pair was launched for the Cash Mongy (MONG: $CMON) project. The token pair CMON/$MONG, which has total liquidity of over $41K. Cash Mongy operates as a unique degen lottery, completely decentralized via on-chain randomization. The collaboration with this unique project has helped expand the $MONG token use cases and boost its liquidity.
[Click The $CMON Chart Above To Trade On DexTools]
The Hornbill Project
The Hornbill Project was created by Tristar Labs team. It aims to support the $MONG community by merging art and crypto. It is an NFT-based project focusing on music, which will be used to generate publicity and funds for the $MONG ecosystem.
At the heart of this project is a music piece created by 1mprov called the “Mong Anthem”. The masterpiece was forever preserved on the blockchain as an NFT, which allows supporters of the $MONG ecosystem to own a piece of $MONG history. In addition, there will be VIP editions of the “Mong Anthem” NFT that can be purchased with $MONG.
Funds raised from the Mong Anthem NFT sale will be used for a Mini MONG Fest at famous crypto-based events like the NFT LA, Miami Art Basel, and many others. The goal is to attract publicity while creating opportunities to expand the ecosystem. At these Mini-Festivals, $MONG NFT holders will get in for free and VIP token holders will receive complimentary food and drinks. As for general attendees, they will have the capability to pay for food and drinks bought using $MONG tokens or official-recognized token pairs.
The Ming Mong Collaboration
Ming Mong (MONG: $MING) is an important liquidity pair with the $MONG tokens. Doing so helped to grow the liquidity of $MONG tokens. The trading pair enables users to leverage-trade their MongCoin by capitalizing on the low-cap growth of $MING tokens. By holding $MING, traders can increase their $MONG holdings faster.
[Click The $MING Chart Above To Trade On DexTools]
The MONGBURN Project
MONGBURN (MONG: $MONGB) is a project created with the singular goal of burning $MONG tokens. Doing so will reduce the supply of $MONG tokens, increasing their value over time. The project also buys MONG NFTs and offers giveaways to the MongCoin community.
The project has a native token called $MONGB, which was used to create an official trading pair for $MONG tokens. Every $MONGB purchase triggers a mechanism, where 5% of the liquidity pair is burned. When selling $MONGB, a 5% tax is deducted, which goes towards rewarding community members with prizes. Thus far, the MONGBURN project has burned 41,481,064,547.24 $MONG tokens.
[Click The $MONGBURN Chart Above To Trade On DexTools]
Ending Commentary on MongCoin
After reading the content above, it is quite clear that the MongCoin ecosystem is massive. It offers value to community members and keeps demand for $MONG tokens high. It is the reason why the $MONG token market cap has been growing steadily in recent weeks.
[Click The $MONG Chart Above To Trade On DexTools]
MongCoin currently stands at around $9.1 million, which is still far from its previous peak of $180 million. As a long-term investment, $MONG looks like a great option, thanks to the thriving ecosystem that has developed around it.
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