There are several thousands of cryptocurrencies out there, known also as altcoins. These coins and tokens all have their own unique features and uses, for example, some are used to help decide the direction the creator company should take, others give you discounts or access to special features. The Coin Guide is a concise summary of the aims and technology behind a certain cryptocurrencies. Insight is crucial in this field. Many projects disguise their progress through complicated jargon, making it hard to distinguish those who are building something meaningful from those who are not.
Post.tech is a next generation Web3 social network built on Arbitrum. Post.tech allows you to earn points and tokens simply by using and posting on Post.tech or Twitter (X). Here’s our secret strategy guide on how to get maximum Post.tech points and $POST tokens!
Interacting with other users will give you MAXIMUM points and $POST, so follow us on Twitter so we can $POST you too!
Check out our other SocialFi platform strategy guides:
Post.Tech is a social media platform that operates similarly to its predecessor, Friend.Tech. It offers token-gated channels where users can buy and sell access tokens. Post.tech charges a 10% fee on transactions, which is split evenly between the app and the channel’s owner. The Post.Tech platform has been gaining huge popularity recently, and on 20th September 2023 recorded $875,000 in transaction volume and trading volume exceeding $1.81 million in 24 hours.
How does Post.tech work?
Posting or engaging on either the Post.tech or Twitter (X) platforms gives you rewards. On Post.tech, users will need to create posts and engage with the community. Meanwhile, on Twitter (X), users will need to create tweets or reply mentioning @PostTechSoFi and $post in order to earn points. At the end of each epoch (i.e. week), Post.tech will calculate the number of points earned which can be redeemed for Post.tech’s tokens after the airdrop campaign ends. Users will be able to claim their tokens then.
Will there be a Post.tech $POST token airdrop?
Post.tech have confirmed on their website they will be doing an a $POST token airdrop. To get a Post-tech airdrop, all you need to do is post and engage with the community on Post.tech or Twitter (X).
How to use Post.tech?
Here’s how to set up, use and start earning Post.tech $POST points and tokens.
Posts and engagement on both Twitter (X) and Post.tech give you points, with the latter platform giving you more points. But remember, if you post on Twitter (X), you need to mention @PostTechSoFi and $POST in order to earn points.
Buy and sell profiles
To buy and sell profiles, you will need to deposit at least 0.001 ETH. The advantages of doing this are that you will earn 5% in trading fees when your profile’s shares a traded. You will also increase your reputation on the Post.tech platform, which can lead to extra rewards. You can see the number of points awarded for each post/interaction here.
Claim $POST tokens
At the end of each epoch (i.e. 1 week), Post.tech will finalise your point count. And after the end of the airdrop campaign, Friend.tech will tally up all your points and determine your $POST token entitlement.
How are Post.tech points calculated?
Different interactions on Twitter (X) and Post.tech give you differing amounts of points. Here’s how the Twitter (X) and Post.tech points are calculated:
Points for posting on Post.tech
Here’s how points are calculated for posting on Post.tech:
Shares holding (i.e. purchasing and holding shares on Post.tech): 200k – 15M points
Buy/Sell shares (i.e. profile trading on Post.tech): 30k points (unlimited)
Points for posting on Twitter (X)
Here’s how points are calculated for posting on Twitter (X). Note that each tweet or reply must mention @PostTechSoFi and $POST in order to qualify:
Original tweet: Up to 15k points (5 tweets/day)
Tweet replies: Up to 7.5k points (25 replies/day)
How to get maximum Post.tech $POST points: Strategy guide
Here are some strategies to get maximum $POST points:
Profile trading: Buy and sell newer/cheaper profiles faster to earn more points on profile trading. Remember, there’s no limit on the number of points you can earn through profile trading!
Only hodl “good” profiles i.e those with high engagement posts.
On smaller Post.tech or Twitter (X) accounts, reply to original posts with @PostTechSoFi and $POST. This is so they may also reply to your posts and you can win together!
Focus on posting on Post.tech. Whilst you get fewer points for posting on Post.tech, the engagement will be very high since everyone who is on Post.tech is in it for the points. It is also a good place to make friends to exchange engagement.
Where can I trade $POST tokens?
Post.tech $POST tokens have not officially launched yet, so they are not tradable on any exchange. They are likely to launch once their airdrop campaign ends.
Conclusion
Post.tech is a Web3 social network that rewards users for posting and engaging on its own platform or on Twitter (X). Users can earn points and tokens by creating content, interacting with others, and trading profiles. Post.tech also offers token-gated channels where users can access exclusive content and communities. Post.tech is currently running an airdrop campaign where users can claim $POST tokens based on their points. With our guide and strategies, you can earn the maximum number of points and $POST tokens! Good luck and show your support by following us on Twitter!
Tipcoin refers to itself as the “future of social interaction”. It allows users to receive points simply for posting on Twitter/X. What’s more, there are ways to get multipliers on points depending on the type of tip. Here’s our secret strategy guide on how to get maximum Tipcoin $TIP tokens.
Interacting with other Twitter users will give you MAXIMUM points and $tip, so follow us on Twitter so we can $tip you too and get you started!
Check out our other SocialFi platform strategy guides:
Use our strategies to get maximum points and $tip. See here.
What is Tipcoin?
Tipcoin is a cryptocurrency aims to transform Twitter / X into a platform for seamless social interaction by enabling users to reward friends and their favorite content creators effortlessly. It operates as a decentralized social platform, rewarding users on Twitter for their engagement and tweets. To earn rewards, users simply need to mention Tipcoin by tagging @tipcoineth on Twitter and using $tip or #tip in their tweets.
How does Tipcoin work?
Twitter/ X users are rewarded with points for replying, quoting or tweeting if they mention $tip or #tip. As will be seen below, different types of tweets e.g. original tweets, tipped quotes or replies, and kickbacks will entitle you to get more points.
Tipcoin has been working on 1 week epochs since 1st September 2023 at 8:00am EST (i.e. their launch date). Points earned during each epoch (week) are calculated. Then, Tipcoin will calculate and determine how much $tip they earned using their point system. Finally, users can claim their earned $tip tokens in the next epoch (i.e. next week).
Will there be a Tipcoin $tip airdrop?
According to Tipcoin’s tokenomics, 35% of $tip tokens will be reserved for platform rewards. Tipcoin have also confirmed that they will be doing airdrops on their future $tip platform. More details will be released in the week leading up to the end of epoch 3. So, watch this space for more details on the upcoming Tipcoin airdrop! (Diazepam)
How to use Tipcoin?
Here’s how to set up, use and earn Tipcoin ($tip)
Set up and activate $tip account
On their page, click “Start Now” to link and authorise your Twitter account. You will then need to send out an activation sweet and share a confirmation post by following their prompts.
Begin tweeting!
Reply, quote, or tweet by tagging @tipcoineth and mentioning $tip or #tip. You will then automatically be awarded points!
Claim points
Your points and $tip allocation will be calculated after each epoch. To claim your earned $tip, go to the “Claim” tab on the top of the page.
How are Tipcoin points calculated?
Different interactions on Twitter give you differing amounts of points. Here’s how Tipcoin points are calculated:
1 point per view;
100 points per like;
250 points per reply;
500 points per quote; and
1,000 points per retweet.
Also, here are the actions which will give you multipliers on points:
original tweet- 30x point multiplier;
tipped quote- 10x point multiplier;
tipped reply- 1x point multiplier; and
replied kickbacks- 1/10 points per tip.
However, the Tipcoin team have hinted there may be additional multipliers during claim.
How to get maximum $tip: Strategy guide
Here are some strategies to get maximum Tipcoin $tip:
Focus on original tweets if you have a larger Twitter account. You can only get points on 5 original tweets per day, with a maximum of 18 million points per tweet!
Tip quotes is a good strategy for smaller accounts. You can get points for 10 quote tweets daily, with each quote tweet potentially earning a maximum of 1 million points. This is because quoting others’ tweets whilst mentioning $tip, #tip and @tipcoineth gives a point multiplier of 10x. So, quote others’ tweets in the hopes they will quote you in return. So, follow us on Twitter and we can $tip you too!
Tipped replies. Replying to others’ tweets with $tip, #tip and @tipcoineth can get you 25,000 points for 15 replies every day. Tipped replies however only offers a multiplier of 1x, so whilst it is better than nothing, the strategies in 1 and 2 above are better if you have less time.
Replied kickbacks. This requires your Twitter account to be verified (i.e., blue tick). Tipcoin kickbacks means you earn points for receiving $tip and @tipcoineth replies from others. However, the multiplier is only 1/10, but with no daily upper limit.
Where can I trade Tipcoin $tip?
You can trade Tipcoin $tip on Uniswap, LBank, Bitget, BingX and MEXC. We expect more exchanges to offer trading in $tip soon as its popularity increases!
Conclusion
Tipcoin allows users to reward each other on Twitter with simple tweets. Use the @tipcoineth handle and the $tip, #tip symbol to earn points which can be exchanged for Tipcoin $tip tokens. With our guides and strategies, you can earn the maximum number of points and get more $tip! Good luck and support us by following us on Twitter so we can $tip you too!
zkLend began its creation in late 2021 with aims to create a layer 2 money-market protocol built on StarkNet. With StarkNet being one of the hottest anticipated airdrops, there is massive speculation that zkLend will also have an airdrop. Particularly since zkLend’s V1 mainnet is fast approaching. This guide will teach you how to get a potential zkLend ($ZEND) token airdrop, which may also increase your potential StarkNet airdrop too!
zkLend is a money-market protocol built on StarkNet. Its aim is to combine the best of zk-rollups and Ethereum. zkLend will enable users to earn interest on deposits and borrow assets. To achieve this, zkLend will be offering a dual solution in the form of 2 products: Artemis, and Apollo.
Currently, zkLend has launched the Artemis MVP testnet on StarkNet Goreli testnet. Artemis is designed for regular DeFi users, and enables them to deposit, borrow and lend in a decentralized and permissionless manner on StarkNet.
zkLend’s other major product, Apollo, is designed for institutional clients. The aim of Apollo is to become a gateway for institutional users into the world of DeFi. It will allow permissioned users to deposit, borrow and lend on StarkNet, but without compromising on compliance and security.
What is the zkLend ($ZEND) token?
The zkLend ($ZEND) token has not been launched yet. However, when it does, there will be a total token supply of 100 million tokens. 35% of the total supply of $ZEND tokens will be allocated towards staking and distribution rewards.
The ZEND token is intended for governance and utility functions on zkLend. In particular, ZEND tokens will be rewarded to users when they interact with the zkLend network. For example, ZEND tokens will be distributed for users when borrowing/lending or providing liquidity to the network. Also, when users participate in community events or marketing/airdrop campaigns. ZEND token holders will also be entitled to voting rights which allow them to vote on future features of zkLend.
What is the Current Status of the zkLend ($ZEND) Token Airdrop?
zkLend has not launched its $ZEND token yet. However, the chances of zkLend doing an airdrop are promising. This is because they have already stated in their Whitepaper that a proportion of zkLend’s revenue would be allocated for airdrop campaigns.
How do I participate in the $ZEND token airdrop?
As there is no official airdrop announcement yet, many users can only speculate how to become eligible for $ZEND token airdrops. It is speculated that users could participate in the Artemis public testnet. This is in the hopes that completing zkLend testnet actions will inevitably entitle them to airdrops when the $ZEND token is launched. However, users should note that an airdrop is not guaranteed.
Connect your wallet to zkLend’s Questboard and complete the tasks. Tasks include joining their Discord, liking and retweeting their Tweets, and submitting your Starknet mainnet wallet address.
Artemis is still in the testnet stage, and it is hoped that the mainnet will be launched in 2023, as well as the launch of the $ZEND token.
When reviewing an airdrop, there are several factors to consider. First, the likelihood the project will even do an airdrop in the first place. Then, to look at how many tokens the project intends to allocate towards airdrop campaigns, as well as the difficulty in participating in their airdrop. It is also important to look at the utility of the token so that there will be an actual use and purpose in participating in the airdrop in the first place. Finally, a factor to consider when reviewing an airdrop is whether the airdropped tokens are subject to any lockup period.
Likelihood of Airdrop: The zkLend ($ZEND) token has not been launched yet. But the team has said that $ZEND tokens would be allocated towards staking and distribution rewards.
Airdropped Token Allocation: zkLend ($ZEND) will be a total token supply of 100 million tokens. 35% of the total supply of $ZEND tokens will be allocated towards staking and distribution rewards.
Airdrop Difficulty: It is possible that participating in the Artemis public testnet could make you eligible for a potential $ZEND airdrop. Whilst this requires time and technical knowledge, you will only be using testnet ETH so it does not cost any money on your part. Otherwise, there are simple social tasks on their Questboard which are easy to do. There may also be a possibility that doing zkLend tasks may make you eligible for the potential StarkNet airdrop too!
Token Utility: The ZEND token is intended for governance and utility functions on zkLend. ZEND tokens will also be rewarded to users that interact with the zkLend network.
Token Lockup: There is no announcement on the $ZEND token lockup yet. However, it is hoped that the mainnet will be launched in 2023, together with the $ZEND token.
Alchemy Pay ($ACH) is leading the Chinese coin rally. And data suggests Alchemy Pay prices can go much higher throughout 2023. They are collaborating with the likes of Binance, Visa, MasterCard, and PayPal to provide crypto and fiat payment services. In this article, we will explain what Alchemy Pay is, and why $ACH should be on your 2023 watch list.
What is Alchemy Pay?
Alchemy Pay provides real-world crypto payment solutions and fiat on/off ramps for global businesses, developers, and consumers. One key problem in the current blockchain payment landscape is the lack of integration between traditional financial systems and cryptocurrencies. The project aims to address this by incorporating a hybrid solution. The solution is to (1) simplify the use of crypto to access traditional financial services; and (2) have fiat currency access blockchain services and value.
This will be huge for driving crypto adoption, as it is essentially a network system that allows cross-platform payments. For example, users can use their credit cards to make payments in fiat currencies. Their payment gateway converts this into crypto. This allows users to make credit card purchases while benefiting from the advantages of cryptocurrency. Such as faster and more secure transactions.
Payment Channels and Strategic Partners
Alchemy Pay already has a global reach of 173 countries and over 300 fiat payment channels. These include Visa, Mastercard, Apple Pay, Google Pay, regional mobile wallets, and domestic bank transfers. They also have a massive network of strategic partnerships with many major blockchain networks and services. For example Polygon, Chainlink, Arbitrum, Coinbase, and Bybit.
Who is the Team behind Alchemy Pay?
In 2018, Molly Zheng and Shawn Shi established Alchemy Pay in Singapore. Both founders have extensive backgrounds in the financial sector. Zheng previously held the position of senior consultant at PayPal China, and also worked for HSBC China and Mastercard China. In 2021, Zheng was appointed Chairwoman of Alchemy Pay’s Board and was succeeded as CEO by John Tan, the then-COO. Tan was responsible for driving the growth of the project’s payment business. He did this by securing the company’s initial base of merchant networks across Asia. Their team now boasts over 80 members who have deep experience across the blockchain and payments industries.
Furthermore, the announcement of a new licensing regime for Virtual Asset Service Providers (VASP) in Hong Kong has generated public interest in Chinese cryptocurrencies. Even though this licensing regime will not have a direct impact on retail buyers. However, both these catalysts may not have as significant of an impact as anticipated. The uncertainty of the actual size of the monetary easing and the lack of a well-defined concept of a “Chinese coin” remain.
People are still interested in taking advantage of any potential mini-rally despite these uncertainties. And are actively searching for investment opportunities. Whilst $ACH still has a small market cap, but with strong connections and established infrastructure, it could become a leading contender in China this year.
Alchemy Pay news
On 23rd February 2023, Alchemy Pay announced its partnership with Conflux Network. Conflux Network is a permissionless Layer 1 blockchain which connects decentralized economies across borders and protocols. Through this partnership, Alchemy Pay would be able to have an easy fiat on-ramp onto its ecosystem. This on-ramp payment solution will allow people to buy crypto using their local currency, which will give Conflux’s system a higher level of convenience for both beginners and experienced users. By working together, Alchemy Pay will help Conflux expand its reach around the world. Now with 2 of China’s hottest projects joining forces, we will hopefully see a massive boost for both Alchemy Pay and Conflux’s tokens.
Alchemy Pay $ACH Token and Price Prediction for 2023
$ACH is the utility token of Alchemy Pay, issued on the Ethereum blockchain as an ERC-20 token. There is a total circulating supply of 4 billion $ACH. Its primary use is for its partners to pledge their $ACH as an intermediate settlement currency between token payment networks. Also, as a medium for transaction fees. Alchemy Pay coin is required for every transaction. But, businesses and merchants within the network receive $ACH incentives for accepting crypto as payment at their point of sale.
As of 20th February 2023, we can see from the price chart that $ACH price is gaining a momentum. There has been a 142.1% increase over the past seven days. Technical indicators do show that $ACH is overbought. But its long-term 50 & 200 daily moving average crossover indicates a bullish trend. This suggests that $ACH is likely to continue its uptrend. The pump to $0.041 at the time of writing is partly attributed to news of them partnering with Google Pay. Provided they expand their infrastructure and build more connections, $ACH could deliver strong returns in 2023.
Frequently Asked Questions (FAQs)
What is Alchemy Pay?
Alchemy Pay is a blockchain and cryptocurrency project which aims to provide real-world crypto payment solutions and a fiat on/off ramp for global businesses, developers, and consumers.
Is Alchemy Pay a good coin?
Alchemy Pay is a good coin with potential. $ACH is currently at US$0.050599 and its all-time high price was $0.198666. It is currently ranked number 177 amongst all cryptocurrencies in terms of market capitalization.
Is Alchemy Pay a good investment?
Alchemy Pay’s $ACH token is also very popular among Chinese cryptocurrency investors. As with any investment, it is important to do your own research and consider the potential risks before investing in Alchemy.
Does Alchemy Pay have potential?
Alchemy Pay does have potential since the Chinese cryptocurrency community views the project so favourably. Also, the Chinese crypto narrative is seen as a huge trend this year, which will certainly give Alchemy Pay a boost.
Who invested in Alchemy Pay?
Alchemy Pay completed its Series A funding round in 2022. They raised US$15 million from several investors including Charles Schwab and Jay Z.
What is Vechain? VeChain ($VET) is a next-generation smart contract blockchain platform focused on solving enterprise and supply chain management solutions. The blockchain supports the creation of smart contracts – self-executing contacts that have a guaranteed outcome without third-party trust. Vechain’s unique advantage is that it has close relations with the big four auditing firms, such as Pricewaterhouse Cooper, who will use blockchains to audit firms.
Vechain is designed to can solve enterprise problems such as:
Anti-counterfeit for Luxury Brands – through the use of smart chips, Vechain tracks each individual item and prevents duplication. Vechain Toolchain allows anyone to create anti-counterfeit tags.
Cold-chain Logistics – ensure that food doesn’t spoil during transportation and storage by using smart IoT sensors that automatically report crucial information to the blockchain.
Automobile – keep a tamper-proof record of vehicle data including repair history, insurance, registration, and driver habits.
Carbon Credits – Quantitatively track the carbon contributions of a particular company to reduce carbon emissions. For retail users, the app is already available on WeChat. Consumers engaging in low-carbon behaviors (e.g. purchasing low-carbon products) would be rewarded with credits that can be redeemed for environmentally friendly goods or donated to charity.
Clinical trial traceability platform – with a partnership with Bayer China, Vechain will use blockchain to solve problems of digitalized clinical trial traceability.
Using blockchain technology, VeChain makes it simple and secure for product manufacturers to collect, manage, and share important product data with vendors and consumers throughout the life-cycle of a product.
Key Features of Vechain
Public blockchain Anyone can read, write and deploy decentralized applications and smart contracts onto the VeChainThor blockchain.
In-house IOT and supply chain management technology Proven blockchain implementation experiences in industries such as luxury goods, liquor, and agriculture.
Native Fee Delegation The blockchain supports the implementation of native fee delegation, which means dApp users do not need to hold VET or VTHO to write transactions if associated gas costs are specified by the developers to be sponsored.
VeChain Ecosystem
To achieve its ambitious vision, VeChain has developed a powerful blockchain-enabled enterprise software platform. The Platform enables manufacturers to assign products with unique identities, which then allows manufacturers, supply chain partners, and even consumers to interact with the product through the platform. It uses blockchain technology to ensure the security of the data collected, allocating private keys to all participants within the supply chain.
Products are assigned a unique ID, which is stored simultaneously on the blockchain and attributed to the product with an NFC chip, RFID tag or QR code. At any point during the product’s life, the chip, tag or code can be interacted with, whether by a distribution or retail partner ascertaining batch membership, or a consumer wanting to learn more about a product. The Company envisages a broad range of applications, including brand protection, anti-counterfeit, and food safety.
VeChain has existed since 2015 and migrated its previous private and consortium blockchain to its public VeChainThor blockchain in 2018. This move opens up the advanced features found on the blockchain to any developer or third party to develop and write applications on the platform. There have been several companies that chose to build their business on top of VeChainThor, including Plair and 8Hours Foundation, as well as several independent community developers.
Vechain Roadmap in 2023
Vechain Token Economics
Vechain uses a dual-token economic model. The primary token, VeChain Token (VET) is used to represent value on the network, with various mechanisms designed to stabilize the price of VET over time.
VET holders will also automatically generate the utility token, VeChain Thor Token (VTHO). VTHO is a “gas” currency, and is required to send transactions or perform actions on the network. Regular network users do not have to worry about separately buying VTHO though, as it is automatically generated in proportion to the amount of VET held. When a transaction is executed, 70% of VTHO is permanently destroyed (“burned”) and 30% is given as a block reward to Authority Node holders.
This dual-token economic model was introduced to improve network economics. This system is designed to help developers on the network. Developers holding enough VET will be able to use the network for free, as the VTHO generated will be enough to pay for transactions. If a developer is developing a transaction-intensive app, they can also look to use the multi-party payment protocol.
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In short:
Vechain Token (VET) serves as a reserve for economic staking and value transfer on the platform. VET can be “staked” in various economic nodes and generate VTHO which powers transactions on the network.
VeThor Token (VTHO) is the “gas” required to perform transactions and interact with smart contracts. Each time a transaction is made, VTHO is consumed and destroyed.
Using and Storing Vechain
Vechain can be stored safely on the VeChainThor Wallet which is available on smartphones (iOS and Android). The mobile wallet securely encrypts and provides keys to provide maximum security for Vechain holders.
What are VeChain Nodes?
Nodes are traceable wallets (such as the VeChainThor wallet) that have a specified minimum amount of VeChain stored inside. There are 2 types of nodes: Authority Nodes and Economic Nodes, both of which have their own requirements, functions, and benefits.
Authority (Thrudheim) Nodes: Securing Vechain by Proof of Authority
At the heart of Vechain are the 101 Authority Nodes that process and validate all the blockchain transactions, as well as govern the network via a voting mechanism. These Authority Nodes are selected by the Vechain Foundation and go through a full application and KYC procedure. As a reward, Authority Node holders receive the highest VTHO production rate and voting rights. Authority Nodes are generally owned by large enterprises and trusted individuals to ensure decentralized trust. Little is known about the identity of these Authority Node holders for security reasons, but several large enterprises such as DNV GL and PwC have come forward saying they hold Authority Nodes.
Economic Nodes: Providing stability to the ecosystem through staking
Economic Nodes do not validate blockchain transactions, rather they keep the Vechain ecosystem stable by keeping a certain amount of VET tokens in their VeChain Thor mobile wallet. There are different tiers of economic nodes and the more VET tokens staked for a longer period of time, the higher the rewards.
To become a Normal Economic Node holder, a minimum of 1,000.000 VET for 10 days is required.
More dedicated node holders can join VeChain’s X Node program which offer even more rewards. For X Node holders, holding a minimum of 600.000 VET at all times is required.
There are 4 types of rewards depending on the type of Node held. These range from earning a sum of VTHO per day, rewards from the Company’s Foundation Reward Pool, to whitelist access to VeChain ICOs.
VeChain started in 2015 with the establishment of its company in Shanghai. Founded by CEO Sunny Lu (ex-CIO of Louis Vuitton China), the Company has been developing enterprise-focused solutions based on its private blockchain. As the trend towards better decentralization occurred in the blockchain industry, VeChain migrated to a consortium blockchain before finally establishing the VeChain Foundation and starting their final migration to a Proof of Authority (PoA)-based public blockchain platform.
The Foundation’s vision is to create greater market transparency and provide consumers with access to more detailed information about the products they buy, sell, and interact with. By having a full 360-degree view of the supply chain, with all components securely recorded and stored in a tamper-proof distributed ledger, retailers and manufacturers can be certain of the quality and authenticity of their products, guaranteeing consumers that what they are buying is really what they think it is.
VeChain boasts partnerships and lives use cases with many notable partners, including DNV GL, PwC, Deloitte, Walmart China, BMW, BYD Auto, Bayer China, H&M, LVMH, ENN, AWS, PICC, ASI Group, etc.
Key VeChain Partnerships
DNV GL
DNV GL was founded in 1864 and has 300 offices worldwide. They provide quality assurance services to companies in the maritime, oil and gas, and power and renewables industries.
DNV GL issues Management System Certificates at the end of their inspection and certification process. This evidences that the company’s processes and products meet international standards.
DNV GL is a partner and shareholder of VeChain. Both Companies share the belief that the future of assurance lies in blockchain technologyAt VeChain Summit 2019, DNVGL announced it has completely migrated its private blockchain to the VechainThor
Since the partnership announcement, DNV GL has jointly developed several products including the Low Carbon Ecosystem and MyStory, a traceability and marketing solution. DNV GL has also reaffirmed its commitment to the VeChain ecosystem by migrating its private blockchain onto the VeChainThor public blockchain for its clients. DNV GL also gave each client a digital Non-Fungible Token (NFT) wallet so that each customer has a digital identity and can access and interact with the DNV GL ecosystem. Through this, DNV GL has issued more than 900,000 wallets, compared to Ethereum which only has 400,000 wallets.
BMW
In March 2018, BMW confirmed VeChain’s participation in the BMW Startup Garage Programme, a partnership program whereby BMW will work with the participant to develop their technology and purchase it for BMW’s use.
During the 2019 VeChain Summit, it was confirmed that VeChain and BMW will jointly develop a DApp called VerifyCar for BMW cars. VerifyCar will record vehicle information onto the VeChainThor blockchain. Examples of information which will be recorded include a vehicle’s mileage, insurance and service records.
Cihan Albay, Leader at IT Tech Office Singapore, BMW Group gives a presentation on VerifyCar
PriceWaterHouseCoopers (PwC)
PwC is known as one of the “Big Four” auditors. They are a network of firms in over 150 countries and provide services to 420 of the Fortune 500 companies.
PwC has 3 major service lines:
Assurance providing financial audits;
Advisory on actuarial and insurance management solutions and human resource services; and
Tax planning and consultancy services.
VeChain has partnered with PwC since May 2017 to jointly develop and promote the adoption of blockchain technology. After much speculation, details of their partnership were announced during a joint press conference with PwC and Walmart in June 2019. It was announced that Vechain and PwC were also working with Walmart China, and had launched the Walmart China Blockchain Traceability Platform built on the VeChainThor Blockchain. The Platform takes on the challenge of food safety by using VeChain’s technology to allow Walmart China to implement a traceability strategy for its products. Consumers can scan the products and would be able to view detailed information on the product, such as its source, logistics process, product inspection reports etc.
At the time of the announcement, an initial 23 Walmart product lines were tested and launched on the Platform. By the end of 2020, it is expected that Walmart’s China’s traceability system will see traceable fresh meat account for 50% of its fresh meat sales, traceable vegetables will account for 40% of its total sales of vegetables, and traceable seafood will account for 12.5% of the total sales of seafood.
Products on the Walmart Blockchain Traceability Platform
Bayer China
The partnership between VeChain and Bayer China, the Greater China arm of one of the world’s leading pharmaceutical companies was announced on 28th May 2020. VeChain has created CSecure, a clinical trial traceability platform to be used in Bayer’s research and development of medical interventions such as drugs and other treatments. Learn more about Vechain and Bayer’s partnership.
VeChain is a blockchain-enabled platform that provides a comprehensive governance structure, a robust economic model, and advanced IoT integration to help enterprises improve supply chain management, asset tracking, data management, and more.
What are the benefits of using VeChain?
VeChain offers a wide range of benefits, including improved transparency, enhanced security, improved traceability, increased efficiency, cost savings, and more.
How does VeChain work?
VeChain uses a combination of blockchain technology, smart contracts, and IoT devices to create an immutable, distributed ledger that can be used to track and manage assets, contracts, and data.
What industries can benefit from VeChain?
VeChain has applications in a variety of industries, including supply chain management, asset tracking, data management, healthcare, finance, and more.
What is VeChain Thor?
VeChain Thor is the native blockchain platform of VeChain, which enables users to develop decentralized applications (dApps) and smart contracts.
Where can I buy Vechain
Currently, the best exchange to trade both the $VET and $VTHO token is Binance – it has the most number of traders and highest liquidity. You can purchase VET on cryptocurrency exchanges such as Binance, Huobi, and OKEx.
What is VeChain’s token?
VeChain’s token is called VET, and it is used to power the VeChain network and reward users for their contributions.
What is VeChain’s roadmap in 2023?
The VeChain Foundation says the project’s developers plan to spend the first half of the year at work on a carbon footprint explorer, a wallet browser extension and an Ethereum (ETH) token bridge, among other projects.
WAX Protocol ($WAXP) stands for Worldwide Asset eXchange. They are one of the safest and most convenient ways to create, buy, sell and trade virtual items i.e. non-fungible tokens (NFTs) through an integrated DPoS blockchain platform designed to work hand-in-hand with a microservice layer to improve the digital goods market’s infrastructure. Obtaining WAX knowledge has enabled innovators to develop a highly-connected and sophisticated marketplace that has brought a lot of value in digital goods projects.
This information here will help you learn how to incorporate the WAX Protocol within the WAX Platform and how the two tools complement each other. It’s worth noting that the WAX Platform is composed of the WAX Protocol and a microservice layer.
Learn more about WAX with our interview with Evan Vandenberg, Director of Business Development at WAX.
Profitable digital collectibles and blockchain gaming (with WAX blockchain)
Background
The WAX platform was founded by William Quigley and Jonathan Yantis, together they have vast experience in blockchain technology. Quigley is also the Managing Director of Cashel Enterprises, a cryptocurrency-focused investment vehicle which has incubated and invested in over 40 blockchain and cryptocurrency projects. Meanwhile, Yantis also works as WAX’s CEO.
The global growth of the digital goods marketplace has experienced enormous challenges for the past decade, but WAX technology has helped in finding solutions that spur the development of the sector. Although some users think that the technology has arrived late when challenges are already overwhelming, it’s actually the perfect time since blockchain has matured enough to satisfy the requirements for the WAX system to succeed.
As the digital goods market continues to expand, it’s essential to acknowledge that tokenized consumer products and virtual items have played an instrumental role in blockchain growth. Virtual items like in video games alone have generated more than USD$140 billion for the market. On the other hand, tokenized consumer products have realized over USD$1.8 trillion.
Considering that WAX attempts to offer remedies for a marketplace with a combined market value of over USD$2 trillion, it’s easy to realize the magnitude of the problem. The first year of incorporating WAX Protocol operations on major players like VGO and dApps has realized over USD$150 million worth of trading volume.
What is WAX?
Wax is a marketplace for digital assets, serving more than 400 million online players that sell, buy, and collect in-game items. Their suite of blockchain-based tools allows people to trade digital or physical items instantly and securely to anyone in the world. WAX’s platform brings together a community of collectors and traders, buyers and sellers, creators and gamers, merchants, creators of dApps and even game developers.
Examples of what WAX can do include buying and selling gift cards to people across the globe, or building your own online store using the B2B tools created by WAX. WAX also allows people to create NFTs and send them to others.
WAX Blockchain
The WAX network works on a consensus model that relies on various WAX Guilds to enhance blockchain production. WAX utilizes Delegated Proof of Stake (DPoS), which depends heavily on WAX Guilds to ensure success in blockchain generation.
The WAX ecosystem has witnessed considerable growth due to the incorporation of the WAX Token Model, which is designed to ensure success in various aspects such as voting, staking, and rewards. The Wax Staking Reward is a feature that has encouraged community participation because it allows users to vote and access rewards.
With WAX tokens, users have immense options to explore. For instance, if staked WAX tokens haven’t been placed, a token holder will require platforms such as Scatter and Lynx to automate the process.
WAX Tokens ($WAXP)
WAX tokens ($WAXP) power the entire WAX ecosystem. They are used to reward participants in the chain and enable contributors to receive ten times the number of tokens purchased. This strategy makes it easier to calculate all microtransactions on the platform.
One benefit of owning WAX tokens is that you get to earn even more tokens by voting for WAX guilds. This is called the WAX staking reward. This process is hassle-free and takes just a minute or two to join. Furthermore, you can unstake your tokens at any time.
WAX and DeFi? WAX’s new tokenomic model explained
In a recent announcement, WAX mentioned they will have a new tokenomic model hoping to capitalise on the rapid growth and popularity of NFTs and decentralised finance (DeFi). Their plan is to link the value generated from creating, selling and trading NFTs to Ethereum. WAX considers it different from other DeFi platforms because they consider these activities to be able to provide a sustainable source of value to stakers.
How the new WAX inter-blockchain tokenomic model would work is that the operational functions of NFTs would still be done on the WAX blockchain, whilst Ethereum will become, “…the capital vault of the WAX NFT empire”. There are 4 components to this new tokenomic model, namely:
WAXP to Ethereum bridge: this new bridge will enable WAXP token holders to convert their tokens into WAXE.
WAXE: WAXE is a new Ethereum ERC20 utility token. Participants of the WAX tokenomics will need to burn their WAXP tokens to get WAXE tokens via the Ethereum bridge. They would then stake the WAXE in the Ethereum Distribution Contract.
WAXG: WAXG is a new Ethereum ERC20 governance token which will be distributed to WAXE stakers based on a set timetable and proportionate to their percentage of the WAX Economic Activity Pool. Token holders will be able to govern the allocation and distribution of economic value on the platform.
WAX Economic Activity Pool: This is a smart contract which will accumulate a percentage of generated WAX fees to be converted to ETH for distribution to WAXE stakers or given to WAXG token holders that decide to burn their tokens.
For full details of WAX’s new tokenomic model, check out their article on Medium.
WAX Guilds and Rewards
A WAX blockchain contains 21 WAX Guilds that qualify to earn a reward. Remember, blocks can only be produced after the chain meets the threshold to earn rewards. The rewards are awarded depending on the number of blocks that every WAX Guild can produce. Standby Guilds are considered as backup operators that help to generate a chain on request.
WAX Performance Metrics
WAX has been configured in such a way that it releases two blocks per second. It’s worth noting that each WAX Guild can only produce one block at a time. If a block fails to come out at a specific time, other blocks will jump the queue to ensure a continuous process.
A block that has been skipped will contend for a space in the memory pool to compete for guilds’ inclusion in the next turn. More than 3000 blockchains are usually transacted each second in the WAX system. The transaction rate is two times swifter than the VISA system can procure in the same period.
The Future of WAX technology
WAX Platform doesn’t only work to offer remedy for the current problems but also offers a roadmap for future operations. WAX Developer Hive is tasked with the duty of technical service provision, tutorials, and other simulations. Besides, WAX developers equally provide vital resources that make implementations successful.
The technology has also incorporated features that will make it convenient to evaluate whether the system passes the transparency test among communities.
Also, there’s room to allow interoperation with other chains to enhance performance. NFTs are among the candidates that need microservices and can thrive with the WAX Platform.
Conclusion
Gamers from across the world can substantially benefit from its secure and decentralized digital items marketplace. As WAX Platform continues to provide more improvements, developers will find several ways to create features that would better serve gamers in terms of digital goods trading.
The platform is also expected to play an instrumental role with digital media and is set to welcome over three billion users in the coming five years.
Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.
Duck Liquidity Pool ($DUCK) is a DeFi Market Maker protocol, developed by DuckDAO, one of the biggest cryptocurrency community that provides funding and marketing support to early-stage crypto projects.
The boom of decentralized finance (DeFi) in recent months has ushered in a new profit-making strategy for crypto traders, beginners and advanced alike. Decentralized exchanges (DEX) rely on liquidity pools to help power their market-makers. While the Duck Liquidity Pool is a new entrant in DeFi, it has already captured the attention of many users in the space thanks to its high APY and token burning model.
https://youtu.be/8MNKafDgW0o
What is the Duck Liquidity Pool?
The Duck Liquidity Pool (DLP) is DuckDAO’s own market maker. The funds that supply its pool came from the sale of pre-mined tokens and can be accessible in many other protocols and exchanges. In the meantime, projects that are supported by DuckDAO will be the first to be able to tap the pool. The ticker for the pool is $DUCK.
The unique feature that distinguishes DLP from others is its “unilateral burn” strategy, or the one-sided token burn model. It is designed to burn 50% of all earned rewards (more on this later).
The APY level for DLP is high and its suppliers can receive as much as 50% of the profits from market making, airdrop of incubated project tokens, as well as non-fungible token (NFT) campaigns. Such a feature enables yield farmers the ability to earn profit by just providing liquidity to DuckDAO’s market maker.
To participate in the DLP, users have to lock their cryptocurrency holdings by depositing their funds in the pool. In return, they receive DUCK tokens as a reward for supplying funds to the pool.
DUCK token is the DuckDAO’s native utility token, which also powers the incentive model for the Duck Liquidity Pool. The token has the following use cases:
Yield farming on Uniswap pools – Staking tokens help contribute liquidity to DUCK and DDIM pools. For this, they earn profit through DLP.
Reward token for market-making profit – Half of the profit from the market maker is returned to the community who belong to the liquidity pool. If the performance of DLP is good, the profit for the yield farmers grows in proportion as well.
Project token airdrops
Non-fungible token as reward
Deflationary Farming: “One-Side-Burn”
This is touted by the team as “Yield Farming 2.0,” which is designed to support a deflationary, unilateral burning of tokens. To understand how this works, we must first look at how the current yield farming mechanism works.
The Usual Scenario for Most Liquidity Pools
Commonly, yield farming pools in the DeFi space look very advanced for the average trader. Not only does this create a psychological barrier to entry, but it also makes profit-making a little more difficult for someone new to yield farming.
Another issue that traders face is the inflationary structure of the incentive mechanism in most liquidity pools. This is because, in order to provide rewards to yield farmers, mined tokens have to be released into the market. This model isn’t designed for long-term effectiveness since with more reward tokens in supply over time, we can expect its value to depreciate as well.
Duck’s Unilateral Burn
$DUCK, on the other hand, is designed to support long-term yield farming strategies. Even beginners on liquidity pools can just stake and earn a part of the profit that DuckDAO’s market maker gets.
$DUCK One-Side-Burn Deflationary Model (Source: DuckDAO website)
One-Side-Burn is a deflationary model that is designed to burn 50% of the carry pair as soon as the liquidity provider decides to cash in a portion of his stake.
What happens in such a situation is that users lose one side of their liquidity as the tokens are burned. And when someone decides to exit the pool completely, his entire liquidity is also burned and further lowers the DUCK tokens in supply.
While this model may seem counterintuitive for profit-earning at first, over-time, the value of the tokens is going to be greater than what it was when a user has staked in the pool. That is why DLP’s design appears to be much better in the long run.
Duck Liquidity Pool Market-Maker Models
Project Token Purchase
DLP purchases tokens in order to facilitate buy and sell liquidity.
DeFi has enabled the birth of new profit-making strategies for traders in the space. However, whether existing liquidity pools can support long-term yield farming models is another question altogether. DLP’s model, which is powered by the ‘unilateral burn’ design, appears to be more promising.
To be fair, like many other pools, the profit it can generate for stakers is also influenced by the number of users joining the pool. This is why it is important to look into that as well before deciding to lock your tokens and supply liquidity to the pool.
Decentralised Finance (DeFi) series: tutorials, guides and more
With content for both beginners and more advanced users, check out our YouTube DeFi series containing tutorials on the ESSENTIAL TOOLS you need for trading in the DeFi space e.g. MetaMask and Uniswap. As well as a deep dive into popular DeFi topics such as decentralized exchanges, borrowing-lending platforms and NFT marketplaces
More videos and articles are coming soon as part of our DeFi series, so be sure to SUBSCRIBE to our Youtube channel so you can be notified as soon as they come out!
Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.
Polkastarter ($POLS) is a cross-chain decentralised protocol, powered by Polkadot, that allows start-ups to raise funds in a decentralised and interoperable environment.
In 2020, the decentralized finance ecosystem (DeFi) recorded encouraging figures in the number of DeFi protocols, as well as the number of funds locked in these platforms. On the number of protocols, the platforms addressed different spheres such as lending, trading, and insurance.
Unfortunately, not many protocols touched on revolutionizing conventional fundraising models such as initial coin offerings (ICOs), initial decentralized exchange offerings (IDOs), and initial exchange offerings (IEOs).
However, projects like Polkastarter are on their way to bring a sigh of relief to startups looking for innovative ways to attract funding. Before we dig deeper into the project and what it brings to startups, let’s take a look at the group behind it.
Background
Daniel Stockhaus and Tiago Martins are the top brains behind Polkastarter. As project co-founders, Stockhaus is the CEO, while Martins is the CTO. Notably, the two have vast experience spanning from tech entrepreneurship to software development.
Other members of the team include Danilo Carlucci and Matthew Dibb. Carlucci is a serial entrepreneur and angel investor, while Dibb is a strategic advisor.
What is Polkastarter?
Polkastarter is a decentralized platform enabling startups and other projects to attract capital through token auctions and inter-blockchain token pools. As you would have guessed from its name, the project is built on the Polkadot network that sits on Ethereum.
Polkadaot Network
Stockhaus settled on Polkadot because of the network’s major strengths in scalability, speed, interoperability, upgradeability, and governance. To elaborate, Polkadot surpasses Ethereum and Bitcoin transaction speed thanks to its use of parachains, which power horizontal scalability, and Grandpa consensus mechanism, which drives vertical scalability.
Polkastarter taps into these strengths to enable governance through community voting and staking. The network also relies on Polkadot to drive liquidity mining.
Using these features, the project scores better than existing decentralized exchanges and swap protocols such as Uniswap, Bounce, and Primablock. For instance, these networks don’t support cross-chain pools, while Bounce and Primablock support a limited array of virtual assets.
Polkastarter’s Use Cases and Major Features
Polkastarter expands outside the fundraising space to crowdfunding and allows participants to benefit from discounted sales. Additionally, the protocol can increase privacy to over the counter deals by enabling password protection during such trades.
The network differs from other similar projects since it allows:
Inter-chain swaps
Fixed and dynamic swaps
Community voting on critical governance issues
Decentralized and permissionless token listing
Comprehensive Know your customer (KYC) procedures
Users to spot scams from a distance through a built-in anti-scam feature
Notably, combining these features brings low-cost transactions, fast cross-chain token swaps, the ability to move virtual assets across decentralized platforms, and a user-friendly design.
How Polkastarter Handles Fixed Swaps?
Fixed swaps pools are significant components of the network. Unlike with automated market making, fixed swap counteracts price volatility. Also, fixed swaps provide a greater level of transparency on the amount raised during fundraising.
Polkastarter employs fixed swap pools instead of AMM swap pools. This approach solves, among other challenges, the risk of private investors artificially inflating the price and dumping their holdings and the cost of token offerings.
Additionally, fixed swap pools ensure a fair distribution of tokens while eliminating the risk of rug pulls in a liquidity pool.
Note that instead of using a bonding curve approach to determine token prices in a pool, Polkastarter sets a fixed price when swapping tokens. As such, it’s possible to add other parameters, such as how much a single user can contribute to a project. Additionally, it’s easier to set more parameters to ensure transparency and fairness on new token holders.
Immediate advantages of using fixed swaps are:
The amount raised and tokens sold can easily be calculated.
It attracts investors distributed both demographically and geographically.
Token holders are given a chance to acquire tokens at a standard price.
Polkastarter’s Native Token ($POLS)
Tokenomics
The network has a native token called $POLS, which it uses for various sections on the platform. POLS’s total supply is 100 million tokens. Exactly 42.5 percent of the tokens were sold during the seed sale, private sale, and Uniswap listing. Other tokens went to the marketing fund, team, advisors, and foundational reserve.
Funds raised during the sales periods went into legal/accountancy (5%), ecosystem growth (20%), liquidity/exchanges (30%), and product development (45%).
POLS is used on the Polkastarter ecosystem as a utility token. Among its major uses are governance and fees.
As a governance token, its holders can vote on crucial matters such as protocol features and tokens to be displayed on the network. On fees, transactions on the platform are paid using the native currency.
Other Utilities
Staking – The token can be staked to earn staking rewards on various fronts. For example, it can be staked to receive pool rewards or for pool access. Note that the option to stake POL for pool access is solely upon pool creators. However, the choice is ideal for giving top liquidity providers private access to high-end pools.
Liquidity mining – Additionally, Polkastarter’s native currency can be staked to participate in liquidity mining. Rewards are distributed to entities providing liquidity on the secondary markets, among other subsections.
Two Key Partnerships With Polkastarter
Although Stockhaus and the team have inked many partnerships with reputable decentralized platforms, two stand out.
Polkastarter and Covalent
Covalent is a platform capable of fetching intricate details about a crypto wallet. As such, it allows Polkastarter and its users to check the trustworthiness of a token contract. The users have access to the token contract age, verification, transaction volume, among other details.
Polkastarter and DIA
Decentralized Information Asset (DIA) is a platform that provides distributed oracles on Polkastarter. Thanks to the exceptional qualities of its oracles, DIA helps Polkastarter provide warnings against massive price slippage.
Other partnerships involve Moonbean, Shyft, and Orion Protocol.
Conclusion
By using fixed price swaps instead of AMM, Polkastarter sets the bar higher in decentralized funding. It adds the transparency and fairness aspect that has been missing on similar platforms. The projectl’s partnerships with Covalent and DIA gives its users peace of mind knowing that they can pick a suspicious project from the crowd and avoid price slippage.
Furthermore, Polkastarter’s native token opens the door to distributed governance while giving its holders an extra way to earn rewards through staking.
Decentralised Finance (DeFi) series: tutorials, guides and more
With content for both beginners and more advanced users, check out our YouTube DeFi series containing tutorials on the ESSENTIAL TOOLS you need for trading in the DeFi space e.g. MetaMask and Uniswap. As well as a deep dive into popular DeFi topics such as decentralized exchanges, borrowing-lending platforms and NFT marketplaces
More videos and articles are coming soon as part of our DeFi series, so be sure to SUBSCRIBE to our Youtube channel so you can be notified as soon as they come out!
Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.
DODO Exchange ($DODO) is a platform that supplies on-chain liquidity in order to support the Proactive Market Maker algorithm (PMM) to provide everyone with pure and contract-fillable liquidity on the blockchain.
Overview
The dawn of decentralized exchanges (DEXs) and decentralized finance (DeFi) brought with it automated market-making (AMM). Unlike in centralized exchanges, AMM doesn’t rely on buyers and sellers for a trade to take place. Instead, smart contracts sit at the center of the trade with liquidity pools providing the reserves.
Unfortunately, in the DeFi scene, the AMM approach has faced challenges as to how to address issues such as slippage and impermanent loss effectively. As a result, platforms such asDODOEx are using a fined-tuned formula known as proactive market maker (PMM) which provides minimum slippage and improved fund utilization. Here, we take a close look at DODOEx, its contribution to the DeFi world, as well as what makes it unique.
Background
DODOEx, founded by three veterans in the blockchain industry, who has huge influencing power in China’s DeFi Community – Mingda Lei, Qi Wang and Diane Dai.
Mingda Lei, he is the architect behind this new market-making algorithm for the protocol. He was a Physics PhD dropout from Peking University. He used to worked for a China-based DeFi project called DDEX as the key developer of the project. The second co-founder is Qi Wang. He is the founder of DOS Network, a China-based layer two oracle project. Before entering into the crypto industry, Wang used to worked as a software developer for firms like Pure Storage and Oracle. The third co-founder, Diane Dai, she started the first subscription-based WeChat channel that focuses on DeFi in China called DeFi Labs.
Apart from the influencing team, DODOEx is also backed by many prominent investors such as Framework Ventures, DeFiance Capital, Pantera Capital, Binance Labs, Coinbase Ventures, Alameda Research, SevenX Ventures and more.
What is DODOEx?
Simply put, DODOEx is a decentralized liquidity provider using a new market making strategy. Notably, the new algorithm differs greatly from the AMM approach common with popular DEXs and/or DeFi platforms such as Uniswap and Curve.Finance.
For example, instead of spreading funds uniformly over a price range, PMM allocates funds with close respect to market prices. One disadvantage of equally allocating funds is that only those funds with a close connection with the market price get utilized in trades. Therefore, in an AMM scenario, there’s a huge difference between the liquidity provided and the liquidity that is actually in use.
Compared to Uniswap’s AMM, DODOEx’s PPM has a better trading amount-vs-price curve. Why? Because, being a proactive formula, it reacts to the changes in the market price to effectively shift the price curve in a similar direction. Consequently, the section around the market price is considerably flat, ensuring sustained liquidity provision and utilization.
Furthermore, apart from shifting the curve, DODOEx unlinks the base currency from the quote currency in a trading pair. Interestingly, this results in less risk and allows liquidity providers (LPs) to use the token at their disposal.
For instance, if it’s an ETH-DAI trading pair, the LP has to deposit either ETH and DAI. Under these circumstances, DODOEx presents numerous advantages to traders and LPs
Advantages of DODOEx to Traders
Although the protocol is decentralized, DODOEx traders have enough liquidity close to what is offered by centralized platforms.
There’s a possibility of having price differences between other exchanges and DODOEx which can be commercialized by arbitrageurs.
Liquidations, auctions, and other on-chain activities powered by smart contracts can utilize liquidity from DODOEx.
Advantages of Using DODOEx as an LP
By unlinking the base and quote tokens, LPs can use any asset type at their disposal.
No minimum restrictions on deposits.
LPs share the network’s transaction fees.
LPs don’t incur price risks when depositing their own tokens.
They can use their coins to create trading pairs.
DODOEx’s Native Token ($DODO)
DODO is an ERC-20 token and forms DODOEx’s native currency. DODO is the platform’s governance token. DODOEx’s governance structure consists of three decentralized autonomous organizations (DAO); admin, risk control, and earn.
The admin DAO is responsible for overseeing all the decisions made on the DODOEx ecosystem. Being the administrator, it has a considerable influence on the other DAOs.
The risk control DAO, as the name suggests, deals with the system’s risk features. Earn, on the other hand, governs how incentives are shared on the platform.
DODO’s total supply is 1,000,000,000 tokens which are allocated to the core team (15%), investors (16%), initial liquidity provision (1%), operations/marketing (8%), and lastly, the DODOEx community takes 60%.
DODO’s Initial DODO Offering (IDO)
The IDO was held on 29 September 2020 on DODO Exchange platform. DODO Exchange has listed the DODO-USDT trading pair. 1% of the total DODO supply is locked in the DODO liquidity pool and the initial offering price is $0.10 per token.
Earning DODO: Staking and Mining
The DODOEx system provides two ways to earn DODO tokens; staking and mining.
Staking
This involves locking your present DODO token holding and acquiring more tokens in the process. This can be done by:
Accessing the exchange through app.dodex.io.
Connecting your wallet through MetaMask.
Click “mining” on the upper far right corner.
Select DODO.
Click stake (note that there’s no way to edit the stake or unstake amount. Therefore, you can either stake or unstake your entire DODO balance).
Confirm your option on the exchange and on the wallet.
Mining DODO
It involves providing liquidity in any supported trading pair using the pool tab. To access the pool option,
Visit app.dodoex.io.
Connect your wallet through MetaMask.
Select “Exchange” from the top right.
Click on “pool” and select your preferred pair. Note that you can deposit any coin on the trading pair. For example, if it’s the ETH-UDSC pair, you can deposit either ETH or USDC.
Click “Deposit,” define the token amount you wish to deposit, and select “Confirm.”
Access your wallet to confirm the transaction after which you click the “mining” button on the top right corner.
Approve the transaction and confirm it in the popup window that appears. In effect, another approval is required since you are now dealing with DLP tokens allocated from depositing your cryptocurrency on the above steps.
In the last step, confirm and stake.
Core Components of the DODO Contract Framework
A set ofsmart contracts powers the DODOEx protocol. However, for optimal interaction, these smart contracts are divided into three core components. They include:
The Core – This holds all the ecosystem’s data and logic. It consists of the transparent proxy contract and the logic implementation contract.
The Entrance – The entrance contract helps in streamlining activities on the transparent proxy contract, which is associated with oracles and fine-tuning parameters. Consequently, it helps mitigate the losses for users.
The Helper – This section of the DODOEx ecosystem holds contracts that are meant to help remove the complexity of the platform away from its users.
Conclusion
The network’s next-generation liquidity provision algorithm ensures high fund utilization and ensures LPs don’t lose value between depositing and withdrawing, commonly known as impermanent loss.
In addition, DODOEx is beneficial to both traders and liquidity providers. For example, it provides enough liquidity for traders and LPs share a section of the system’s transaction. Also, DODO mining and staking enable investors to increase their token holdings.
Decentralised Finance (DeFi) series: tutorials, guides and more
With content for both beginners and more advanced users, check out our YouTube DeFi series containing tutorials on the ESSENTIAL TOOLS you need for trading in the DeFi space e.g. MetaMask and Uniswap. As well as a deep dive into popular DeFi topics such as decentralized exchanges, borrowing-lending platforms and NFT marketplaces
More videos and articles are coming soon as part of our DeFi series, so be sure to SUBSCRIBE to our Youtube channel so you can be notified as soon as they come out!
Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.
Poolz.finance ($POOLZ) aims to be the bridge between cryptocurrency projects and early investors.
Poolz.finance has already integrated Ethereum, Polkadot and Tomochain. Projects can simply sign up with a simple Google form on the Poolz official site and they would help launch token sales on the Poolz platform.
In addition to launching token sales, Poolz can also help projects fundraise flexibly by allowing them to specify lock-in periods whereby only after the specified period expires can investors receive tokens for their swapped amount. On the other hand, pools of tokens camn also be created for a project’s token so investors can get immediate access to the project’s tokens.
To catch up with the yield-farming craze, Poolz also provides staking-as-a-service, allowing projects to set up staking for their token. And with that of course also brings concerns for security, which Poolz does recognise and therefore can allow projects to request token audits.
Check out our interview with CEO and Co-founder Guy Oren.
Poolz is also capitalizing on the popularity of Non-Fungible Tokens (NFTs) by allowing cryptocurrency projects to auction their NFTs on the Poolz auction house. Poolz has integrated the ERC-721 standard, which allows developers to code the owners’ identity and address into the NFT- making each token unique and ensuring that each NFT only has one owner.
During this initial phase, projects can sell their NFTs for ETH and DAI. However, it is expected that more payment methods will be accepted in the future, such as the project’s native cryptocurrency or other stablecoins.
$POOLZ token holders get exclusive benefits on Poolz’ NFT auction house such as price benefits and special access to the “last call” feature. Poolz’ “LastCall” feature comes after the conclusion of the “open” auction phase. Once the “open” auction for the NFTs are closed to the public, the “LastCall” phase opens whereby the NFT pool is exclusively open for POOLZ token holders to make their bids- thus increasing their chances of getting a winning bid before the auction finishes.
What is the $POOLZ token and its uses?
$POOLZ is Poolz Finance’s native ERC-20 token. $POOLZ token is mainly used as user incentives, governance, staking, token burns and project development.
Incentives. include exclusive benefits in the NFT auction house and better swap ratios for pools running on their platform.
Governance. The Poolz platform will implement the Proof of Stake (PoS) mechanism. This allows POOLZ holders to have voting rights when they stake their tokens in specific wallets.
Staking. According to the Team, POOLZ token holders can get passive income from staking them in particular ERC-20 wallets. In return, these token holders will get staking rewards.
Token burn. Poolz will use 16.67% of its daily earnings to buy $POOLZ tokens from the market and burn the same, subject to an upper limit of 20% of the POOLZ supply. This keeps the supply of tokens low.
Project development. Poolz has reserve tokens that are allocated for future development such as marketing, exchange fees for listings, and long-term liquidity.
$POOLZ tokenomics
1/3 of the total $POOLZ token supply is locked and will be released over a period of 10 years. The Poolz team believes this model will ensure a low supply and keep prices high, and to show that they intend to stay with this project for the long haul.
The allocation of $POOLZ is as follows:
2.2M POOLZ (44%): Public and private sale
800,000 POOLZ (16%): Staking rewards. This will be circulated in the form of average annual yields to those who stake their tokens in a compatible wallet. 80,000 POOLZ will be released each year for 10 years (i.e. 1,539 tokens per week).
800,000 POOLZ (16%): Swapping rewards. These will be rewarded to liquidity providers on the participating pools on the platform. 80,000 POOLZ will be released each year for 10 years (i.e. 1,539 tokens per week). This may be subject to change via governance decisions.
600,000 POOLZ (12%): Reserve. This will be for future initiatives and to support the community.
375,000 POOLZ (7.5%): Team. For incentivizing the Poolz team and will be distributed over 6 months of equal vesting after a lock-in period of 1 year.
125,000 POOLZ (2.5%): Advisors. Given to advisors as incentives over 1 year of monthly vesting.
100,000 POOLZ (2%): Liquidity fund. This is for providing liquidity on Uniswap and other exchanges.
$POOLZ token sale
Total Supply: 5,000,000 POOLZ
Initial Market Cap: USD $423,500
Fully Diluted Valuation: USD $3.5M
Private and public sale: 2.2M POOLZ (44% of total supply) will be allocated for private and public sales.
Pre Seed: 100,000 POOLZ at USD $0.35: 3 months initial lockup, then 8.33% released monthly.
Strategic Round: 400,000 POOLZ, at USD $0.455: 10% released upon Token Generation Event (TGE), then 9% released monthly over a period of 10 months.
Private Sale 1: 700,000 POOLZ, at USD$0.47775: 20% released upon TGE 20%, then 20% released monthly.
Private Sale 2: 900,000 POOLZ at USD $0.50050: 25% released on TGE, then 25% released monthly.
Auction Pools: 100,000 POOLZ at USD $0.7: no lockup period.
On 15th January 2021, $POOLZ will do a public sale by way of an Initial DEX Offering (IDO) and Uniswap listing.
The IDO will be held on the Poolz platform itself so that after it goes live, you can directly buy $POOLZ from their own platform. Afterwards, $POOLZ will be available on Uniswap. There is no minimum purchase amount for this IDO.
Note the IDO has sold out in 18 seconds
How to buy $POOLZ on Uniswap
The $POOLZ token will be listed on Uniswap from 15th January 2021 onwards, meaning that users will be able to buy $POOLZ on Uniswap. Buying $POOLZ can be done in 4 easy steps:
Step 1:On Uniswap, select which cryptocurrency you want to trade $POOLZ with in the “From” row. Note that Ethereum is set as the default.
Step 2: Set to swap for $POOLZ tokens. In the “To” row, enter the correct Poolz address. Be very sure that the address is correct or else you could risk losing your funds.
Step 3: Enter the amount of $POOLZ token you want to obtain. Once you’ve entered the amount of $POOLZ token you want to buy, double-check the swap details and click “Confirm swap”.
Step 4: Confirm purchase on MetaMask. After confirming on Uniswap, you will be taken to MetaMask to confirm the payment. Click “confirm”. Once the payment is processed you will receive $POOLZ tokens in your MetaMask wallet.
Is Poolz safe?
Poolz Finance engaged Arcadia for an independent security audit of its smart contracts. Poolz reports that Arcadia did not find any issues with their smart contracts.
Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.
Algorand is a high-performance next-generation blockchain whose goal is to create a transparent system in which everyone can achieve success through decentralized projects and applications. Many have called this project “Blockchain 3.0”, as it solves Bitcoin’s well-known scalability problems whilst maintaining security and decentralization. Algorand has the native token $ALGO, which will be used as a transfer of value on the network. In terms of technology backbone, Algorand uses a Pure Proof of Stake (PPOs) and pseudorandom functions to prevent malicious attackers from colluding on the network.
Algorand stands out from other high-performance blockchains by the credibility of its founder, MIT professor Silvio Micali. Professor Micali has is the recipient of the prestigious Turing Award for computer science and many of his inventions have directly impacted the cryptocurrency scene.
Founder of Algorand: Silvio Micali
Silvio Micali is the recipient of the Turning award (the highest award from computer scientists) with innovations built around his research in cryptography, zero-knowledge, pseudorandom generation, secure protocols and mechanism design. On top of this, Dr. Micali is the co-inventor of probabilistic encryption, Zero-Knowledge Proofs, Verifiable Random Functions and many of the protocols that are the foundations of modern cryptography
Algorand Foundation
The Algorand Foundation makes use of the Algorand protocol and software developed by Silvio Micali and his team. Their aim is to create an ecosystem that everyone can use to build a borderless digital economy on Algorand.
Specifically, the Algorand foundation holds one-quarter of the total supply of ALGO (i.e. 500 million ALGO), and manages the Algorand blockchain.
Algorand attempts to overcome the Blockchain Trilemma
Vitalik Buterin proposed that a Blockchain can only have a maximum of 2 of these properties
Currently, transactions on the blockchain are very slow because of the “Blockchain Trilemma”. This is a term coined by Vitalik Buterin, the founder of Ethereum.
According to this idea, a blockchain has three major features: decentralization, scalability and security.
However, the Blockchain Trilemma proposes that it is very hard for a project to have all three features to a satisfactory condition. A network that is decentralized and has a tough security would not be scalable. Similarly, a blockchain that is decentralized and scalable will have little security etc.
Buterin believes at a fundamental level, a blockchain network can only achieve two of the three features at any time. The Blockchain Trilemma could be the source of scalability issues on most cryptocurrency blockchains. Most cryptocurrency projects cannot handle high numbers of transactions while ensuring network decentralization and security.
What is Algorand- Is it really a Next Generation blockchain?
To attempt to overcome this, Algorand opted for a Pure Proof of Stake (Pure PoS) consensus mechanism. Interestingly, the mechanism employs a different approach compared to other alterations of the PoS mechanism.
For instance, instead of requiring 100% consensus from all the validating parties, Algorand is comfortable with a two-thirds majority consensus. This means that in order to attack Algorand, you will need to purchase more than one third of the total supply of Algorand. This will anyway be uneconomical and holding such a large volume of the supply means that you have a large stake and would not want to see it fail.
Algorand’s secret sauce: Cryptographic sortition
Since today’s blockchain platforms require speed as an integral component, Algorand has a fast transaction time by enabling fast transaction finality through cryptographic sortition.
“All transactions are final in Algorand. Once a block appears, users can rely on the transactions it contains immediately, as they can be confident that the block will forever be part of the chain. Even if the Internet is split into multiple pools of users, only one safe and consistent Algorand chain will exist. [Additionally], Neither a few delegated users nor a fixed committee is responsible for proposing blocks in Algorand. Instead, all users are randomly, secretly, and continuously selected to participate in the Algorand consensus protocol.”
The process of confirming blocks on the platform involves two stages; the proposal and voting stage. During the proposal stage, a token is randomly selected, and its owner suggests the next block to be confirmed. At the voting stage, 1000 random token owners are selected to form a committee that approves the proposed block.
How to Stake Algorand?
An Algorand transaction in action
Anyone can participate in the Algorand platform as a block proposer by merely switching their address from offline to online on the Algoexplorer. Luckily, this option does not depend on the amount of Algo tokens staked. Mining is not required, all you need is to stake its ALGO token and have the nodes online.
The Algorand platform supports two types of nodes; relay and participation. An important point to note is that the relay nodes don’t participate in voting or decision making. Instead, they facilitate communication between participation nodes. Relay nodes are also hardware intensive compared to participant nodes.
Although Algorand is designed around being fully decentralized, the Algorand Foundation holds a lot of ALGO tokens and hence control. However, the platform is anticipated to be more decentralized in coming months as the foundation continues to liquidate its position.
You can also stake Algorand using your Ledger cryptocurrency hardware wallet. Check out our Ledger Nano X review.
Algorand 2.0 Protocol Upgrade
On 22nd of November 2019, the Algorand foundation announced the next huge leap for Algorand – dubbed Algorand 2.0. This release brings about 3 major features: Native token issuance (Algorand Standard Asset), Atomic swaps for interoperability and smart contract support via the TEAL scripting language.
Algorand Standard Asset (ASA) brings about easy token creation and issuance directly on the Algorand main chain. ASA supports a wide range of tokens, such as fungible tokens (similar to Ethereum’s ERC-20, and also non-fungible tokens (used for digital collectibles). Algorand’s implementation of tokenised assets is directly on the protocol layer (“Layer 1”), allowing for direct access to assets with maximum security. This is a significant advantage over Layer 2 Scaling which requires payment channels in order to operate.
“Algorand is delivering that innovation with this new set of features that brings an impressive amount of opportunity to decentralized finance.
Shay Finkelstein (CTO of Securitize)
Algorand listed on Coinbase, price surges over 30% in one day
In a complete surprise to cryptocurrency enthusiasts, Algorand was listed on Coinbase on 17th July 2020. People found out only when they saw the announcement on Coinbase’s blog, whereby the Exchange said that their customers can now buy, sell, convert, send, receive or store $ALGO in all Coinbase supported regions. Be sure to check out our Coinbase exchange review and some hacks and tips to avoid Coinbase fees.
People were completely caught off guard by this announcement since in the few weeks prior Coinbase had talked about 18 other cryptocurrencies they might consider listing. Yet Coinbase was not one of those 18 cryptocurrencies.
This listing created a whole flurry of activity for $ALGO, especially in terms of its prices. Since the listing, prices for $ALGO shot up 30% since the announcement and was even trading at $0.367 at its peak.
Algorand becomes the official blockchain platform of FIFA
FIFA, the world football governing body has announced its partnership with Algorand. This sponsorship and technical partnership will see Algorand becoming the official blockchain platform for FIFA, providing blockchain-supported wallet solutions as well as helping FIFA develop its digital assets strategy.
Algorand will also be a FIFA World Cup Qatar 2022 Regional supporter in North America and Europe, and a FIFA Women’s World Cup Australia and New Zealand 2023 official sponsor.
The future of ALGO token: Algorand’s 10-year plan
When the Algorand blockchain was first launched, 10 billion ALGO was minted, which represents the fixed and unchangeable maximum supply of AGLO.
Since then, only 16% of this total supply has been injected into circulation via an auction in June 2019 and subsequent community rewards. Auction proceeds have been used to finance various community, academic, and industry projects which ultimately support the development of economic infrastructure and business opportunities on the Algorand blockchain.
After consideration by the Algoradnd team and based on their analysis and feedback received, the Algorand team have decided that the remainder of the initial 10 billion ALGO tokens would be gradually distributed over a period of 10 years from 2020, i.e. by 2030, the entire supply of ALGO would be distributed. This is much longer than the initial 4 years from 2020 as originally planned by the Algorand team.
In order to implement Founder Silvio Micali’s vision of innovative community governance, the Algorand team are moving towards a new reward system that rewards existing and future participants who are committed to participating in the governance of the Algorand ecosystem and prove their loyalty by locking up their ALGO for the long term. Resources i.e. 3 billion ALGO will be correspondingly distributed to reward long-term holders, and economic and business activity on the Algorand blockchain. The aim of this is to achieve a rate of growth of chain loyalty and economic adoption which would be more than enough to compensate for the gradual release of tokens over 10 years.
Furthermore, the funds initially allocated for sales will now be diverted to other areas such as community incentives, governance participation and ecosystem support.
FAQ
How do you mine Algorand?
It is currently not possible to mine Algorand using computer hardware. Algorand uses a proof-of-stake consensus, so it is possible to earn ALGO rewards by simply staking Algorand in the wallet.
Where is Algorand located?
Algorand is a decentralized project founded by MIT professor Silvio Micali. The foundation responsible for maintaining Algorand, the Algorand Foundation is incorporated in Singapore and is located at 1 George Street, #10-01, One George Street, Singapore (049145).
How do I buy an Algorand?
You can Buy Algorand on popular exchanges such as Binance or Coinbase with the ticker $ALGO
How do you stake algorand
Algorand can be directly staked via the mobile wallet application which can be installed on both Android and iOS devices. To stake the coin, deposit ALGO directly into the wallet. The wallet will automatically accumulate ALGO over time.
What is Algorand’s community governance?
Algorand started its community governance program on 1st October 2020, it gives ALGO holders the power to make decisions regarding the direction and future of Algorand. People can participate in governance i.e. become Governors by committing their ALGO for the duration of the 90 day voting period and then voting on the proposals. After the 90-day voting period, participants can claim their governance rewards.
Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.
Atari, the pioneer of the videogame industry, is venturing into the crypto space by creating their own token, Atari Token, ($ATRI), to power the future of the interactive entertainment industry. The global entertainment and media market is projected to be worth approximately $2.2 trillion by 2021. Interestingly, gaming is continually accounting for a more significant chunk of the industry’s value and is projected to be worth $200 billion within the next few years, according to Statista. With the integration of blockchain technology and the Atari Token, the company believes that this will revolutionize the global gaming industry.
Atari token is developed by icons in the gaming scene, Atari. The firm has over 200 games under its name. If you are a gamer, their titles would not be able to you as games like Pong, Missile Command, and Roller Coaster Tycoon were once very popular.
Atari has been developing games since 1972. Therefore, its knowledge of the interactive has been enjoyed by gamers through generations.
Notably, to be alive from 1972 means that the company has been able to adapt to the changing needs in its environment swiftly. It’s this open-mindedness that has seen the introduction of the Atari Token. Frédéric Chesnais leads the project as the CEO, with Manfred Mantschev heading the business development division.
Additionally, the project has partnered with notable firms in the cryptocurrency and blockchain fields. They include the Litecoin Foundation, Arkane Network, Chain Games, and Blockchain Game Alliance (BGA).
What is the Atari Token ($ATRI)?
Atari Token ($ATRI) is a blockchain-based currency aimed at streamlining payments in the interactive entertainment space. The token is developed using Ethereum’s ERC-20 standards and is powered by the Ethereum blockchain.
However, before expanding to the entire area, the token sought to first make an impact on the gaming ecosystem. Although the project is driven by a blockchain system with a relatively low transaction speed (around 20 transactions per second), the network is exploring a layer-two scaling solution to enhance the network speed.
With the token, the Atari team is keen on removing the barriers presented by other cryptocurrencies like Bitcoin and Ethereum. For example, instead of limiting themselves to particular use cases, the cryptocurrency can be used in a wide range of use cases in the long run.
Simply put, the Atari team is keen on developing a token that can be used in everyday activities even outside gaming.
ATRI occupies a critical role in the Atari ecosystem. For instance, the token is used to power activities on smart contracts. In addition, it acts as a medium of exchange on supported platforms. As a start, the token forms a key pillar in the Atari system that has the Atari Casino, Atari Exchange, and Atari Betting.
Atari ($ATRI) Public Sale
The public sale of the Atari Token will begin on 29 October 2020 on Bitcoin.com Exchange. The price per token is set at $0.25 per token with a hard cap for the public sale of $1 million. The Atari Token will be listed on the Bitcoin.com Exchange following the completion of the public sale. For more information, please refer to their telegram or twitter.
Atari Tokenomics
The circulating supply of Atari Token is 65,389,000 and the total supply is 7,771,000,000. Atari Chain applies a token burn/buyback economic policy that aims to track network growth, demand and usage with the emission of new tokens into circulating supply. Any unsold tokens during the Private or Public Sale will ultimately be burned.
Since it’s a community-focused project, the governance of the token is done through a decentralized autonomous organization (DAO). But, the basic rules have to be developed before welcoming community involvement. Therefore, the project will smoothly transition from centralized to decentralized governance.
However, after decentralization, the Atari network will have 12 distributed parties that will oversee consensus among the Atari community.
Advantages of ATRI
Within such an expansive industry, such as interactive entertainment, the token has a wide range of advantages. Top among them include, but not limited to:
Easy Integration
The token is built to be the universal token on gaming platforms. For this reason, the fact that it is based on the Ethereum protocol puts it at its rightful path, considering that the blockchain platform has more than triple the number of developers compared to other decentralized networks.
High Liquidity
ATRI banks on attracting liquidity from a multitude of internet-based entertainment platforms. Notably, the coin will be integrated on platforms that are secure, as well as with high transaction volumes.
Auditable
The cryptocurrency industry has been filled with scams and poorly secured platforms for a long time, leading to security breaches and loss of investors’ funds. ATRI solves this by opening up to independent audits. This powers secure smart contracts and prompt the use of standardized safety policies. (https://www.srmfre.com)
ATRI Use Cases
The token can be used by gamers and developers alike. For gamers, the ATRI is ideal for making micro-transactions inside games, making digital representations of avatars, and allows participation in casino games centered around cryptocurrency.
Developers, on the other hand, enjoy an enhanced payment process during development and an incentive to build blockchain-based games. For example, developers can easily integrate in-app purchases and collaboratively program, test, and translate their work.
Conclusion
In an industry expected to reach a valuation of 2.2 trillion US dollars, putting those who matter, gamers and developers, at the heart of the growth is the key to foster a motivated community and a vibrant interactive entertainment industry. This can only be achieved through innovative solutions like the Atari token.
From powering in-game purchases to facilitating chat-based payments, ATRI sits at the core of the gaming sub-industry and forms a core pillar in the entire internet-based entertainment sector. Through its key partnerships, easy integration, high liquidity, and openness for auditing, the Atari token is ready to conquer all the sectors of crypto-based online entertainment.
Importantly, its success in these realms would naturally lead to its adoption for daily uses outside the entertainment space.
Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.
