A mega-investment hovers around LoofDAO borders
Loof DAO announced that the former NBA star McGrady promoted its project! Tracy Lamar McGrady Jr. (born May 24, 1979) is a former professional basketball player in the United States who is best known for his time in the NBA (NBA). He is a seven-time NBA All-Star, seven-time All-NBA pick, two-time NBA scoring champion, and 2001 NBA Most Improved Player Award winner. As a member of the Class of 2017, he was inducted into the Naismith Memorial Basketball Hall of Fame. McGrady has worked as an ESPN basketball analyst since his retirement and he also pitched for the Sugar Land Skeeters of the Atlantic League of Professional Baseball from April to July 2014, fulfilling his dream of playing professional baseball.
Since the very famous former NBA player recently promoted Loof, it is highly likely that it will experience an exponential growth of professional basketball players coming into the project as he is very influential and charismatic. This is good news for LoofDAO as McGrady will serve as a magnet to draw in investors looking for the next big thing in the DeFi space – which seems to be what LoofDAO is all about.
Loof plans to push through with its Initial Coin Offering (ICO), as this will only accelerate its plans of listing on centralized exchanges due to the exposure it is having at this initial stage. This massive investment and promotion will be a major milestone for the project because as its initial coin gains high circulation, the value of the coin will increase and possibly get to be listed on sales and exchange platforms like Coinbase and FTX, which will allow the public to purchase its token, which can be used for:
- Purchasing DeFi wealth management products on the Loof platform.
- Exchanging development resources with third-party DeFi wealth management product developers.
- Exchanging and producing platform value-added services such as functional components.
- Initiating and participating in community voting, as well as publishing reward tasks in the community.
- Payment when assets are traded on the Loof platform.
Loof aims at becoming one of the top DAO projects – A decentralized autonomous organization, or DAO, is a group of people who have agreed to work together to achieve a common objective of generating, acquiring, and sharing community value. DAO is also a capitalized organization in which software protocols give information for its operations, putting automation at its core and humans at its periphery.
Loof is dedicated to creating a DeFi 2.0 DAO Community platform that is distributed and decentralized, autonomous, organized, based on Smart Contract, and tokenized. Being a Decentralized Autonomous Organization Finance, the DAOfi platform, can also be viewed as a DAO (Decentralized Autonomous Organization)-managed scalable value token transfer protocol (VTTP) for decentralized finance. The most prominent user scenario is the DAO community. The goal of DAOfi is to establish a healthy DAO community ecosystem and create a DeFi complete protocol platform that is both lightweight and adaptable.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Vedh Consulting journalist was involved in the writing and production of this article.