Davido has announced the launch of a new social token, $Echoke coined from the popular lingo of the singer.
The DMW label boss took to his official Instagram account to make the announce on Tuesday, November 23.
Information from the whitepaper of the token reveals that it is a cryptocurrency that is built on the Binance Smart Chain (BSC) and it is meant to, “provide access to giveaways, NFTs, festivals, exclusive merchandise, and other entertainment, media, and hospitality benefits.”
This comes after Davido’s epic crowdfunding feat where he raised the sum of N200,000,000 and added an extra N50,000,000 a of which will be donated to charity.
Davido’s announcement explained that he was able to build the token with the help of Bitsika Africa, a remittance company, who reportedly launched a crypto platform called Omegoat.
He stated, “I built this with @bitsikaafrica’s new crypto company @omegoat on the Binance Smart Chain (BEP-20). Make sure to follow them.”
Davido also stated that there will not be token sales in the spirit of ‘democracy’ but he will be giving out the tokens through periodic giveaways and the first one is slated to begin on the 28th of November 2021.