Numerous cryptocurrencies and tokens appear every day. Some of them are of a practical nature, which means they perform some sort of function. Others, on the contrary, have a purely entertainment purpose and may be in demand only due to the strong buzz around the project. RevenueBot has highlighted a few coins to watch out for.
Nexus Mutual (NXM)
NXM is the token of the Nexus Mutual decentralized platform, an alternative to insurance. By using blockchain technology to create a mutual risk-sharing pool, people now have the ability to transfer ownership from large insurance companies back to the individual.
The platform is built on the Ethereum public network, allowing anyone to become eligible for membership and buy coverage. Thus, anyone is allowed to participate, as the mutual is owned by its members.
The model uses a self-contained tokenomic system to incentivise its members to participate in in Risk Assessment, Claims Assessment and Governance.
Nexus Mutual uses a risk-sharing pool that allows anyone to purchase on insurance cover or contribute their capital to the pool for future rewards.
Nexus Mutual tries to disrupt the insurance industry by transitioning the power over the pooled resources to the individual people. Thus, anyone is allowed to participate, as the mutual is owned by its members. Users can contribute Ethereum (ETH) to the pool for NXM.
DYDX is a governance token that empowers the community to run the dYdX Layer 2 protocol, vote on proposals to add new features, as well as gain rewards, participate in liquidity pools, and receive trading discounts on the platform.
dYdX stands for a DEX that runs on Ethereum and does not have a centralized trading control node. You can swap, borrow, and use margin trading in assets and perpetual contracts on the platform.
At the time of writing, dYdX appears to be the most popular Ethereum-based margin trading platform with up to 25x leverage. The platform is non-custodial, which means that all activities are performed without intermediaries, leaving the user without the need to trust anyone to store their money. All you need to do is connect your DeFi Wallet and use all the features of the exchange.
The protocol itself was launched back in 2017, but has since proven itself in the best possible way. It has long-term support from many institutional investors and funds. The company has gathered an experienced team of advisors, developers, and blockchain architects. The core reason for launching the token was to create a decentralized and DAO-driven margin trading protocol with an expanded range of features.
Theta Network (THETA)
This is a decentralized blockchain network dedicated to video streaming. It addresses the core challenges of the streaming industry: cutting content delivery network (CDN) costs, optimizing high resolution and bitrate video sharing, and empowering individual users to provide their own computing resources to support broadcasts.
THETA stands for a token, which serves as an incentive mechanism for its users. It is a tool that can be used by viewers to buy access to content, and for donations as well. Originally the token rolled out on the Ethereum blockchain, yet after the launch of the MINE Network it was moved to the Theta blockchain. Total number of tokens is strictly limited to 1 billion, all of which were initially issued and are currently in circulation.
THETA. The main payment tool as a part of the platform. There are 1,000,000 THETA, no new units will be added. The reason for such a solution is to better protect against intruders who want to generate sufficient numbers of tokens for the network to be threatened. Since all the volume has already been generated, the only way to get hold of 51% is to buy them, with each new purchase the coin price will escalate.
When investing in new coins, you keep an open mind on all the risks, because the chances of a coin remaining at the same price brackets or depreciating are sky-high.
This material is not a piece of financial advice and is for informational purposes only.
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