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.
Lido DAO (LDO)
Lido DAO (LDO) is the governance token of the eponymous project, which ensures its long-term stability and decentralized decision-making to facilitate the growth of an equitable, reliable and transparent liquid rate. By holding an LDO, you get to vote in the Lido DAO.
Lido Finance is a DAO community that creates state-of-the-art liquid rate protocols for staking economy development. Lido lets users to bet on their assets and make daily profits. When you stake, you mint tokens that are pegged to your initial stake by 1:1 ratio. Your staked tokens can also be used in the DeFi ecosystem to generate more revenue.
Lido enables you to use your assets to get even more returns. Use your tokens (which help you earn daily rewards for betting activity) as collateral, for lending, farming, and more. The number of this DAO is growing every day, and contributors are working together to build the future of Lido.
Additionally, Lido is a platform running on its native blockchain as well as offering liquidity for assets and stakes across multiple networks. As of this writing, Lido supports Ethereum 2.0, Terra, Solana, Kusama, Polygon, and will soon be connected to the Polkadot network.
This one was previously known to users as Antshares. It is also often referred to as “Chinese Ethereum”. During the rebranding, Chinese developers performed a major update of the cryptocurrency network, revised its technical aspects, and comprehensively modified the documentation that accompanies NEO. Furthermore, here’s what the cryptocurrency with the new name has acquired:
- A completely redesigned official web resource.
- Distribution across the world’s most popular social networks.
- Restyling of the crypto exchange’s acronym.
- Lifting deposit system (type “Smart”) dubbed Neo 2.0 – which is commonly known to us as “smart contracts”.
All of these aspects had a positive effect on the trading of the token on exchanges around the world. NEO has a total market cap of roughly $554,722,795.
This figure is nothing but proof of the earnest approach of Chinese developers to the promotion of NEO. If you compare it to its predecessor, Antshares, such numbers are wonders still undreamt-of. It all just indicates the bright future of the upgraded fork.
Frax Share (FXS)
FRAX is the world’s first fractional stablecoin, which is partially pegged to the USDC as well as to an algorithmically stabilized Frax Share (FXS) token. Frax Share (FXS) is the governance token of the entire Frax ecosystem of smart contracts which accrues fees, seigniorage revenue, and excess collateral value. That is, FXS is an investment and governance asset, whereas FRAX is a stablecoin equal to $1.
The Frax protocol runs on Ethereum, Avalanche, Fantom, BNB Chain and several other blockchains. The end goal of the Frax protocol is to provide a highly scalable, decentralized, algorithmic money in place of fixed-supply digital assets like BTC.
The ratio of secured to algorithmic transactions depends on the market price of the FRAX stablecoin. When FRAX is at or above $1, the function lowers the collateral ratio. But when the price of FRAX is below this mark, the function increases the collateral ratio. In this way its constant price of $1 is maintained.
FRAX is a community-driven and uniquely designed stablecoin. Over 60% of the supply of FXS is issued over a number of years to liquidity providers. It is an entirely decentralized protocol with governance on-chain. It is also the first stablecoin to incorporate the fractional-algorithmic hybrid design as of this writing.
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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