Social investing platform NAGA is on a mission to help bring crypto mainstream. The platform already offers a diverse range of products designed expressly to create a sustainable economy where each community member can benefit.
To build upon its vision, the platform has announced the integration of its native NAGA Coin ($NGC) utility token across all of its products. This move follows the heightened calls from the NAGA community to act, given the $NGC token’s numerous benefits. Acknowledging the demand, the NAGA team has officially added the token, thus giving users access to lower trading fees alongside several other features.
With this integration, the $NGC token has become the core element of the entire NAGA infrastructure, including NAGA Trading, NAGA DeFi, and NAGA Social Betting.
Unlocking Diverse Utilities For $NGC Token Holders
The NAGA team aims to make trading transparent, accessible, inclusive, and convenient by creating a one-stop solution for trading all types of financial and digital assets. With over one million active traders on its social trading platform, NAGA allows users to invest in global markets, including stocks, commodities, forex, ETF, and cryptocurrencies.
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In the meantime, the NAGA Coin ($NGC), an ERC-20 token, serves as the utility token for all traders using the NAGA infrastructure. Following the integration, the importance of the $NGC token has increased abundantly, given it will now be used to open NGC-based trading accounts. These accounts will allow users who copy trade to save 50% on the copy trading fee. It will also enable users whose trading strategies are being copied to earn double copy-trading fees. Furthermore, the $NGC token can be staked on VIP tiers available on the NAGA Trading platform.
The NAGA team will unlock utilities for the $NGC token in multiple phases, with the key feature of a 50% discount on copy trading fees being the first to go live. As noted by the company in their official statement, the $NGC token will also offer users access to cashback on a per-trade basis, lower fees across all trading pairs listed on Switex, as well as free membership in the Switex Cashback program.
Other benefits of the $NGC token will include the option to purchase discounted ad credits for the NAGA TRADER AdManager and Switex, access to premium content, and the option to earn attractive APYs by just holding the token.
Investors and traders on the NAGA platform are already generating more than $250 billion in annual trading volume across 1,500 different assets in a range of classes, with 600,000 real money transactions executed via the company’s copy trading mechanism. Because copy traders will benefit from the discount and credit points offered by the NAGA Coin integration, the NAGA team expects it to play a critical role in helping the company expand its user base globally.
The $NGC token is currently listed across prominent exchanges, including Uniswap, Bittrex Global, KuCoin, and HitBTC. As the only coin that supports all activities across the NAGA ecosystem, be it social trading, DeFi, or betting, the NAGA team plans to roll out all related utilities before the end of the fourth quarter of 2021.
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Even though the NAGA ecosystem has achieved a 157% growth in revenue during the third quarter of 2021, the $NGC token is still highly undervalued. The integration of the $NGC token will play a pivotal role in helping the platform expand its market dominance while accelerating the token’s growth in valuation, especially because more and more investors are catching on to the rising trend of social and copy trading.
