DragyPrice

(DRAGY)

Dragy (DRAGGY) is a memecoin inspired by Matt Furie’s “The Night Rider” book, aiming to embody the spirit of friendship and acceptance. It operates as a Community Take Over (CTO) token, meaning it lacks a central developer and is entirely driven by its community. The project emphasizes that its contract is SAFU (secure), ensuring trustworthiness and providing a foundational level of security for its users.

The DRAGGY token primarily functions as a governance token, granting holders a direct say in the future of the Draggy CTO protocol. By locking DRAGGY tokens, users receive veDRAGGY (vote-escrowed DRAGGY), which represents their voting power. While primarily a governance tool, the project also mentions potential utility in streamlining payments, reducing fraud in the transportation sector, and creating tamper-proof records for performance metrics, suggesting broader applications in the future.

Common risks in decentralized finance (DeFi) include potential smart contract bugs and economic exploits, despite security audits. Users must be aware of common mistakes like using the wrong network; Draggy CTO operates on the Ethereum blockchain, and sending funds on incompatible networks will result in permanent loss. Additionally, users should always verify official URLs to avoid interacting with fake websites (phishing sites), which are prevalent and can lead to asset compromise.

Staking allows users to participate in the Draggy CTO ecosystem. You can withdraw your DRAGGY tokens at any time, provided there isn't a liquidation event actively in progress. It's important to note that rewards from staking do not compound automatically. To optimize your position, users must manually claim their earned rewards and then redeposit them back into the Stability Pool. This manual process is necessary to effectively compound their holdings and potentially increase future returns.

DRAGGY is the liquid governance token of the project, meaning it can be freely traded and transferred. In contrast, veDRAGGY (vote-escrowed DRAGGY) is a non-transferable token that represents voting power. Users obtain veDRAGGY by locking their DRAGGY tokens for a chosen duration. The more DRAGGY locked and the longer the lock-up period, the more veDRAGGY a user receives, thereby increasing their influence and voting power within the Draggy CTO governance framework.

The tokenomics of DRAGGY are straightforward and community-focused. A key feature is that the liquidity pool has been permanently burned, which helps ensure stability and prevents potential manipulation. Furthermore, there is a 0% tax applied to all transactions, meaning users can buy, sell, or transfer DRAGGY tokens without incurring additional fees. The total token supply is set at a fixed amount of 420.69 trillion, establishing a clear and transparent maximum circulating supply.