On July 1 2021, YouTube star and ex Google and Facebook employee, Patrick Shyu AKA ‘TechLead’, launched a brand new crypto currency called ‘Million Token’.
Shyu put $1m of his own money into the project which saw the creation of a million tokens with a minimum value of $1 a piece. Since then the token has gone viral in crypto investing circles and was picked up by the tech community surrounding his YouTube channel who have built a website and development ecosystem around Million Token.
MillionToken has many similarities to a stablecoin; after all 1 Million Token = $1 minimum. However, unlike other stablecoins such as USDT, the supply of Million Token is fixed at exactly one million token. This fixed supply amount is written into the code of the token’s smart contract, so no more Million Tokens can ever be created.
With a fixed supply and a set minimum value, the more popular Million Token becomes, the more the value will increase. Shyu also provides base liquidity for his token on the decentralised ETH based platform Uniswap to sell the token to new buyers as demand increases.
There are plans to list Million Token on exchanges and to also build a bridge to the Binance Smart Chain which will allow smaller investors to buy fractional amounts of the token without the expensive gas fees on the ETH blockchain.
While this is one of hundreds of new tokens released this July, Shyu’s Tech Lead experience combined with his marketing prowess in building a YouTube channel to over 1,000,000 subscribers makes Million Token an enticing proposition for investors looking for the next growth crypto in the 2nd half of 2021.