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.
Astar (ASTR)
ASTR is the Astar project’s native token, which is earmarked for fees, protocol governance, as well as for providing basic income for dApps developers, and staking. The token holders have their personal account in the Astar Network app, displaying their balance, transaction history, and staking income.
Astar Network is the leading smart contract hub that connects the Polkadot ecosystem to Ethereum, Cosmos, and all major Layer 1 blockchains. Astar Network supports dApps using multiple virtual machines — namely WASM and EVM — and offers the best technology solutions and financial incentives via its Build2Earn and Astar Incubation Program for Web3 developers to build on top of a secure, scalable and interoperable blockchain.
Moreover, it is a tool for scaling different blockchain applications. Using it, you can create a smart contract that will support the functions of DAO, NFT and DeFi. Astar Network’s mission is to provide a scalable, interoperable, and decentralized application platform that defines and realizes the new form of the web, Web3.0. Thus, decentralized web will become much cheaper, smoother, and fully compatible with Etherium.
Tranchess (CHESS)
CHESS is a governance token of the eponymous protocol used to incentivize active users of the Tranchess platform.
Tranchess is a yield enhancing asset tracker with varied risk-return solutions. The platform aims to provide a different risk/return matrix out of a single main fund that tracks a specific underlying asset. The name Tranchess was inspired by the game of chess, as well as the French word “tranche”, which is often associated with tranche funds that caters to different class of investors with varying risk appetite.
Tranchess Protocol is not just a standalone asset management ecosystem, but encompasses many features one can require in the DeFi space. It is a one-stop centre for those that want to enjoy a full suite of DeFi features such as single-asset yield farming, borrowing & lending, trading, etc.
Hive (HIVE)
HIVE is a native token of the Hive network that becomes an important part of the Delegated Proof of Stake (DPoS) consensus mechanism. In addition, thanks to the innovative Brain Proof (PoB) concept, you can earn coins by creating and organizing content.
Hive is a groundbreaking and future-proof decentralized blockchain and ecosystem designed to scale in response to widespread adoption of currencies and platforms. Comprising of lightning-fast processing and commission-free transactions, Hive stands as one of the leading Web3 blockchains used by people all over the world.
Hive is meant to store massive amounts of content and making it available for time-based monetization. Among examples of possible uses are social networks with monetized rewards for content producers, as well as interactive games, identity management, polling systems, microcredit, and more.
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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