TotoroInu (TOTORO) is an ERC-20 token on the Ethereum blockchain that aims to become a community-driven place for anime enthusiasts and cryptocurrency users. As per the platform’s whitepaper, the project aims to release a cryptocurrency launchpad, Totoropad, that assists blockchain-based projects to raise capital while giving access to early-stage token sales for their group of investors.
The platform seeks to be one of the first Launchpads with innovative cross-chain functionality that allows organic fundraising across multiple blockchains and safeguards clients in case of unfavorable outcomes. Additionally, investors don’t need to choose what network they want to use to participate in IDOs (initial DEX offerings), as the platform seeks to have a robust ecosystem with an insurance system.
In the case where a project from the launchpad rug-pulls all wallet addresses that were able to participate in the IDO, users receive a 100% refund equivalent to the number of tokens they are still holding. A rug-pull is an investor who makes an insurance claim if the project developer or team commits the market trade of tokens that results in a –50% impact to the price per token, permanently disables trading of the token, implements a 50% tax for all trades, or removes the project’s liquidity pool. Initial DEX offerings (IDOs) are a new type of decentralized and permissionless crowdfunding platform that is opening up a new way to raise money in the cryptocurrency space.
Furthermore, the platform seeks to implement a token mechanism that collects 5% on every trade then automatically converts it into the native token to create an insurance fund. Users must acquire Totoro Inu’s utility token TOTORO to enter the ecosystem.
The platform works to create a brand and an ecosystem and to secure a place among the various cryptocurrency tokens. TotoroInu was born to educate and popularize DeFi with the help of its intuitive, secure, and guided system.
