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.
Injective Protocol (INJ)
INJ is Injective Protocol’s native token, designed to govern the protocol, serve as collateral for derivatives, and act as a rate for staking.
Injective Protocol itself is a versatile DEX for cross-chain derivatives trading with a wide spectrum of financial solutions, such as open-ended swaps, futures and spot trades.
The platform utilizes both the Ethereum and Cosmos ecosystems via peg zones in order to create a fast cross-chain trading infrastructure without gas fees expenses. Injective aims to build a network that is trustless, censorship-resistant, publicly verifiable, and front-running resistant.
The protocol in question was founded in 2018 and has managed to build the first layer-2 decentralized exchange protocol that unlocks the full potential of decentralized derivatives and borderless DeFi. Injective is considered as a fully decentralized and robust cross-chain DEX supporting a diverse array of derivatives including CFDs, perpetual swaps and more.
Aptos (APT)
APT is the Aptos project’s native token used for all network fees, decentralized governance, and staking to protect the network. Aptos is a proof-of-stake (PoS) blockchain with an advanced Byzantine Fault Tolerance (BFT) consensus mechanism, alongside a set of validators to receive, process, and validate transactions. APT holders either lock or place tokens in the validators of their choice in order to receive rewards.
What’s more, Aptos is a scalable Layer 1 blockchain that aims to enable mass adoption of Web3 and empower
the ecosystem of decentralized applications to solve real user problems. The mission of the project is to advance the state-of-the-art in blockchain reliability, safety, and performance by providing a flexible and modular blockchain architecture. This architecture should support frequent upgrades, fast adoption of the latest technology advancements, and first-class support for new and emerging use cases.
Canto (CANTO)
Canto is a permissionless general-purpose blockchain running the Ethereum Virtual Machine (EVM). It is also a general-purpose Layer-1 blockchain built using the Cosmos SDK and the Tendermint kernel. It is fully compatible with EVM. Canto was developed to deliver on the promise of DeFi – that through a post-traditional financial movement, new systems will be made accessible, transparent, decentralized, and free.
At launch, Canto provides Tendermint consensus secured by Canto validator nodes and an EVM execution layer via Cosmos SDK in addition to core financial primitives designed to support the Free Public Infrastructure (FPI). These primitives include:
- Canto DEX — a zero-fee DEX for liquidity providers;
- Canto Lending Market (CLM) — a pooled lending Compound v2 fork;
- $NOTE — a fully collateralized unit of account token issued by the CLM which also serves the ecosystem as a USDC/USDT soft-pegged stablecoin.
Conclusion
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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