Development-focused African platform Community Yield Farming (CYF) has developed a community-driven token solely for crypto traders in Africa.

Launched on Binance Smart Chain (BSC), the CYF community-driven token is deflationary and has a distinctive minting feature and a limited supply of 100T CYF.

The token comes with an algorithm developed to provide value to its community while advancing crypto adoption through an active ecosystem. What reported in the press release, the token provides its holders with some features such as pull resistance, community reward, and self-supply liquidity.

The token also rewards its holders through unique smart minting that redistributes up to 35% of token sales back to the community. Additionally, the token creates and increases liquidity through the community rewards program.

CYF is a platform that represents the African community. It focuses on the development of Africa, mainly its technology and digital sector. The platform aims to promote the adoption of cryptocurrencies across the African continent by reflecting on the issues affecting the global adoption of cryptocurrencies.

With the latest CYF token launch, the platform has seen prominent global investors like Wolf of Congo invest in the project. CYF is not the only platform looking to advance cryptocurrency adoption in Africa. In May, crypto exchange Mara raised $23 million in funds to build a trading platform designed for Africans.

As reported by Blockchain.News, the funding was obtained from Coinbase Ventures, Alameda Research (FTX), DIGITAL, Nexo, Huobi Ventures, and nearly 100 other crypto investors in the industry.

Furthermore, while some companies and organizations aim to encourage the adoption of cryptocurrencies in Africa, some countries on the continent are already moving towards adopting this digital currency.

In April this year, the Central African Republic (CAR) adopted Bitcoin as legal tendertaking its place as the second country to adopt cryptocurrencies after El Salvador.

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