Cryptocurrency is the hottest topic across the globe. Most enthusiasts believe that buying cryptocurrency is the best option long-term. People who understand how to trade short and ride the waves of the volatile cryptocurrency market can profit too.
Yet, if you have the time and the patience, the long term is where the significant gains lie. Additionally, cryptocurrency projects such as Aave (AAVE), EOS (EOS token), and Dogeliens (DOGET) have the power to inspire us and enhance our quality of life in the future. Let’s explore them.
Aave is an Ethereum-based decentralized financial marketplace where users can lend and borrow various cryptocurrencies. The platform enables peer-to-peer (P2P) lending using smart contracts.
With Aave, you may lend and borrow money without worrying about oversight by banks, brokers, or other financial intermediaries.
Currently, 26 different cryptocurrency pools are available on the protocol for depositing and earning interest; 25 can also be borrowed, including ETH, LINK, and LEND.
You may view each cryptocurrency’s borrowing and lending rates on the Aave website. Aave uses an algorithm to establish current rates depending on the utilization rate. If there isn’t much cryptocurrency in the pool, the interest rate is high to encourage more people to deposit cryptocurrency. In contrast, if little cryptocurrency has been used, the interest rate is low, allowing more people to borrow.
Aave possesses two unique DeFi tokens. The first is AAVE, the Aave protocol’s native governance token. Buying AAVE tokens functions exactly like buying stocks in a firm. As a result, you can vote on protocol improvement proposals.
ATokens, the second Aave token, are interest-bearing tokens that lenders receive in exchange for depositing into the liquidity pools. Directly credited to your wallet, the interest tokens are pegged at 1:1 to the value of your locked asset.
AAVE holders can benefit from a few things. For instance, if AAVE borrowers take out loans in the token’s currency, there is no fee. Furthermore, borrowers who utilize AAVE as collateral also receive discounted fees.
This platform is a solid alternative to Ethereum for creating decentralized applications (DApps). It is also referred to as an “Ethereum killer” because of its scalability and free transaction cost. Since the platform’s launch in 2018, many fantastic applications have been developed using it.
EOS enables developers to design full-fledged apps. The platform is comparable to app stores like Google Play but differs significantly because of its complete decentralization.
Some of the intriguing features of EOS include a bug recovery tool, an innovative system that aids the seamless deployment of smart contracts, its simplicity compared to several blockchains, which is crucial for developers with insufficient experience, and several available plugins for efficient data integration.
Similar to Ethereum, the EOS platform has a utility token, the EOS token. However, the EOS concept is different from Ethereum since EOS token holders own the network rather than only “renting” computer power. For example, holding 1% of the EOS coins means you would effectively own 1% of the network and 1% of the processing power needed to complete the transaction. Because of this, transactions are free!
The EOS platform has been gaining widespread adoption as numerous industries, including exchanges, social networking, gaming, and more, have DApps built on the EOS platform.
Dogeliens is a new meme coin in the cryptocurrency market, aiming to establish use cases in DeFi and the metaverse.
Users may stake and earn coins using an open-source P2P cryptocurrency, which enables buyers and sellers to exchange assets without intermediaries or execute trades securely, anonymously, and at lower fees without needing agents or other third parties.
Dogeliens is also jumping right into the growing Metaverse and GameFi markets. Dogeliens aims to develop its own P2E games. You must buy “Dogelien pup” to participate in the P2E game. This will be available through our exclusive NFT marketplace, where you can purchase assets to give your Dogelien a unique look and feel.
The platform will be powered by its native token, DOGET, which has some utility functions on the platform. Every DOGET holder can mint NFTs, which can be used in the P2E game.
Several cryptocurrencies like Aave (AAVE) and EOS (EOS token) have gained significance in recent months, while others such as Dogeliens (DOGET) have the potential to do so.
Dogeliens (DOGET) is the new meme coin in town, yet with its growing fan base and significant use cases, it may eclipse other tokens sooner than later.