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.
SelfKey (KEY)
KEY is an ERC-20 Ethereum-based token designed for mutual payments within the SelfKey ecosystem and for governing the various events happening there.
SelfKey is an ecosystem designed to preserve the privacy of individuals and companies alike. The company behind the platform, SelfKey Foundations, strives to create an ecosystem where people and organizations can feel safe and secure as they ,make transactions and interact with each other.
By having a decentralized, fully-encrypted currency, you can rest assured that all the operations you conduct on the platform will remain confidential.
What’s more, SelfKey is a blockchain-based digital identity management platform that utilizes a concept known as self-sovereign identity (SSID). The platform empowers both businesses and individuals to take full ownership of their own digital ‘personas’, letting them unlock additional privacy and freedom. Using this kind of “blockchain passport”, you no longer have to go through time-consuming and tedious verification (KYC) procedures, each time uploading electronic copies of IDs to prove your identity.
Rio DeFi (RFUEL)
Rio DeFi (RFUEL) is RioChain’s native token used to pay for all transactions made through the platform as well as to run its applications. The company is dedicated to accelerating the mass adoption of digital assets by bridging traditional and decentralized finance.
When designing RioChain, the developers prioritized security, speed, scalability and interoperability. The project runs on a variety of blockchains at the same time to leverage the strengths of each.
Rio DeFi catalyzes the mass implementation of digital assets by blending traditional and decentralized finance. At the heart of the project’s vision is a world where everyone has access to DeFi. To this end, apps are being developed that connect people to digital assets, mobile payments and DeFi services, including savings and loans. The project solutions deliver lower transaction fees, faster validation, energy efficiency, secure storage and global reach.
Flamingo (FLM)
FLM is a Flamingo’s native governance token created on the NEO blockchain. You can get it as a reward for such actions as staking cross-chain assets, supplying liquidity to pools, FUSD (a Flamingo synthetic stablecoin) minting, depositing FUSD at interest for margin trading. FLM holders can vote to change protocol parameters, issue new FLM tokens, etc.
As for the Flamingo Finance platform, it is a “full-featured” DeFi protocol built on the NEO blockchain. However, upon further examination, it looks more like as combination of the very best DeFi protocols originally built on Ethereum. Flamingo attracts liquidity from other major networks thanks to PolyNetwork interoperable protocol.
The platform offers its users a comprehensive experience by solving back-end and front-end problems right on a single platform. As a result, Flamingo users enjoy a vast array of assets.
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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