2021-10-7 17:57 |
TomoChain TOMO/USD improves the scalability of the Ethereum (ETH) blockchain.
TomoChain’s priority is to build a blockchain infrastructure for decentralized applications (dApps) and improve integration as well as security.
The TomoMasterDAO launch as a catalyst for growthOn October 5, TomoChain Lab announced the TomoMasterDAO, which is the governance platform for TomoChain.
It is intended to provide funding for projects that are built on the TomoChain blockchain and have community initiatives.
The foundation of the TomoMasterDAO is formed with the tDAO token, which will be used for a variety of different activities on the TomoMasterDAO ecosystem.
This includes proposing bounties, voting, and supplementing funds.
That being said, the total token supply is 100 million tDAO tokens, which will launch on LuaStarter through an Initial DEX Offering (IDO) on October 15.
The TomoMasterDAO has set its goal towards gathering a strong community with consistent development in the new areas of interest regarding the cryptocurrency space.
That being said, this has the potential to push the price of the TOMO token further in value.
Should you invest in TomoChain (TOMO)?On October 6, TomoChain (TOMO) had a value of $2.30.
To get a better perspective of what kind of value point this is for the token, we will be comparing it to its all-time high value as well as its performance in September.
Regarding its all-time high value, it was on September 6 when the token achieved a value of $3.88.
When we compare this value point to the one on October 6, a whole month further, we can see that the token Is $1.58 lower in value.
In other words, on September 6, the token was 68% higher in value.
That being said, throughout the month, the token dropped in value to $1.89 on September 21.
This indicates that the token fell in value from September 6 to September 21 by $1.99 or by 51%.
Then the token, from September 21 to October 6, grew in value by $0.41 or by 21%.
With the various benefits of the TomoMaterDAO, we can expect TomoChain to address issues and give motivation for users to participate through funding projects and community-driven developer bounties.
With this TomoMasterDAO addition, we can expect the token to increase to $3.10 by the end of October, making it a worthwhile investment.
The post Should you invest in TOMO after the TomoMasterDAO announcement? appeared first on Invezz.
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