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.
DODO (DODO)
DODO is a native token of the eponymous DEX called DODO, used to govern the platform, participate in fundraising campaigns, receive commission discounts, and mint loyalty vDODO tokens.
It features highly capital-efficient liquidity pools that support single-token provision, reduce impermanent loss, and minimize slippage for traders. The trading platform also offers SmartTrade, a decentralized liquidity aggregation service that routes to and compares various liquidity sources to quote the optimal swap rate between any two token.
In addition, DODO removed all roadblocks hindering liquidity pool creation for the issuance of new assets – asset ratios, liquidity depths, fee rates, and other parameters can all be freely customized and configured in real-time. Based on this breakthrough, DODO has developed Crowdpooling, a permissionless, equal opportunity liquidity offering mechanic, as well as customizable technical solutions geared towards professional on-chain market makers.
Firo (FIRO)
Firo is a digital currency with a focus on setting privacy standards. Firo, formerly Zcoin, has been the gold standard of trustless, on-chain privacy since 2016. Its incentive infrastructure gives it the industry-leading practical anonymity set.
Firo contributes both independent research and development to blockchain privacy and decentralization technologies actually.
Back in November 2020, the rebranding of the ZCoin cryptocurrency was complete – the coin now goes by the name FIRO.
Raydium (RAY)
Raydium is an automated market maker (AMM) and liquidity provider built on the Solana blockchain for the Serum decentralized exchange (DEX). It has first-mover advantage as an AMM within Serum and it will be an integral part of bringing new and existing projects and protocols into the ecosystem. The protocol will act as a bridge for projects seeking to expand to Solana and Serum, and as part of that process, Raydium and its RAY token form the basis for further development with its partners, its very own platform, and its ecosystem as a whole.
Unlike any other AMMs, Raydium provides on-chain liquidity to a central limit orderbook meaning that funds deposited into Raydium are converted into limit orders which sit on Serum’s orderbooks.
Long term, Raydium aims to capture and maintain a leadership position among AMMs and liquidity providers on Serum, while leveraging the power of Solana to drive the evolution of decentralized finance (DeFi) and emerge as a leading protocol in the space alongside their partners and the community.
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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