In case you still haven’t noticed and you’ve been living under a rock the past year, polka dot has swept the crypto sphere by storm, while polka dot is already in the top five. On the coin market cap, there are plenty of coins that are on Polkadot. That could be huge gainers over this bull run as the polka dot ecosystem continues. Expanding to reach fruition. Today we’re going to discuss what I believe to be the top five coins within the polka dot ecosystem.
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Only subscribers are eligible. You scoundrels, all right guys. Today we are going to be taking a look at the top five projects on Polkadot, so let’s just jump right into it. First, we have a darwinia native network token, whose ticker is Ring. Darwinia is a substrate-based project that currently sits in the top 250 on CMC, while you can currently buy it in the form of an erc20 token on the Ethereum blockchain or a trc20 token, within the Tron ecosystem.
Darwinia’S main net is to launch by the end of this month, which will allow users to convert both existing token forms to their native token, on its polka dot pair chain at a one to one ratio. So what is the aim of Darwinian? Well, it plans to serve as a bridge between independent chains allowing users to convert tokens and NFTs between chains. Darwinia started from a cross-chain game called evolution Land but has evolved itself into a cross-chain transfer protocol that goes far beyond evolution. Land game which will be transported over to darwinian’s pair chain once the mainnet launches.
Needless to say, this interoperability is what excites Polkadot investors and enthusiasts so much by allowing tokens on independent chains to connect to the same dapps and external chains. Darwinia serves to connect communities and ecosystems on various chains that are currently divided and unable to interact this cross-chain interaction also has huge potential for applications in the world of d5, for example, Darwinia will be able to be used for cross-chain decks, allowing users to swap Ethereum tokens for say tokens built on Tron’s blockchain.
Currently, dex users are limited to a singular chain. Users of unit swap or another Ethereum-based dex have no way to swap their tokens for an eos based token, aside from the unique case of using bancor’s native wallet, rather than interacting with bancor from an Ethereum-based wallet, it is worth noting that a big problem bancor faces Is congestion of the Ethereum network and fees being paid in Ethereum bank or transaction fees have been seen to be over a hundred dollars with recent gas prices.
Which needless to say, is absolutely unacceptable to the average user or trader once our Winnie has mainnet launches users? Will use the ring token to cover transaction fees over the Parachain ring will also be used for staking, which will reward users with a secondary token Ktan, which will have multiple use cases, including governance.
After the main net launch this month in the quarter, three Darwinia’s team is set to launch their token decks and NFT market in q4 of this year, Darwinia is one of the most anticipated substrate-based Polkadot projects and valuable addition to any portfolio. Next on the list, we have sora, whose ticker is xor currently hovering around 230 on coingecko sora aims to be a currency of the future or, as the team put it, the new economic order with an automated token bonding curve that seeks to make its use as A currency, more practical, taking useful concepts applied by central banks that offer stability to the ecosystem.
The ultimate goal of sora is to have it used as a feasible medium of exchange for goods whose dynamic supply is democratically allocated. It has been described as seeking an autonomous virtual state governed by holders of xor, where token orders vote on creating and allocating new tokens for productive uses within its ecosystem. As an example, this can be potentially seen to allow a form of quantitative easing that incentivizes spending and increases productivity without shedding the purchasing power of the holder.
The line of thinking and economic methodology that goes into this is quite complex and we don’t actually have time to cover it in depth today for you. But the bottom line is that a dynamic supply and a decentralized method of allocation of new tokens are important for adoption.
Similarly, to Darwinia, they have plans where decks native to their para chain called Pokeswap, which has stirred a lot of excitement and anticipation for its launch expected to be in quarter four of this year or quarter. One of 2021 XOR will be the hub currency of Pokeswap as eth is for Uniswap or for bancor. The token’s bonding curve that was previously mentioned will be built into the Pokeswap and Pokeswap will not only provide value to the soar ecosystem but help maintain the value of xor through Pokeswap.
The bonding curve will be managed and executed. Pokeswap will also be the method of building reserves that will provide constant liquidity to those who want to sell their xor reserves serve to not only allow the bonding curve to function but help build up the fundamental value of xor backing its price. The upward slope of the bonding curve allows xor to serve as a store of value, even when the supply is increased while mitigating the effect of unrestrained boom-bust cycles.
Other cryptocurrencies, frequently experience which discourages their consistent use as an acceptable currency used for transactions in exchange. For goods and services, all in all, sora is an ambitious project and one worth paying attention to.
Third up. We have a coin whose ICO hasn’t even happened yet Akala the ICO is set for this month and if you want to take advantage of it, you can stay tuned in to icodrops.com or Ocala’s social media channels. Ocala ticker ACA will be a pair chain optimized for defy yes, the two most hyped trends in crypto polka dot and defy wrapped up in one coin, the wrapper probably has polka dots on it. The Akala para chain will offer a variety of device products on their parent chain from a native deck to a lending platform.
Akala is creating a stable coin to help fuel its ecosystem a USD, which has already seen 52 million dollars locked up on its test net Akal. Also intends to offer a new product called an l dot, which is essentially a derivative of the dot that gives users exposure to both staking yield, as well as lending returns with users having the ability to borrow against l dots as collateral Akala’s dex.
Unlike the dexes of the first two coins mentioned in this content will allow fees paid in the coin of the user’s choice. Aca, the central governance token of Akala, akin to the maker of maker DAO, is said to be a promising project whose ICO will allow those who feel that they missed out on this polka dot trend, thus far to hop in on a project early.
Fourth, up on the list, we have mantra dow, whose ticker is on coming in around rank 180 on coingecko mancher, now is competing with Akala in the polka dot defy space offering staking and lending services, as well as a variety of other services.
If you don’t want to have all your eggs in one d5 basket when entering the polka dot scene mantra, dow is a good basket to place some eggs inbuilt on the substrate based Rio chain with short block times and a high throughput relative to the Ethereum mantra. Dow aims to leverage the interoperability of polka dots mainnet because of polka dots interoperability.
Users will be able to take advantage of the existing defy ecosystem built on Ethereum while expanding functionality by using coins from other changes collateral such as bitcoin. Is that even a coin? I don’t remember that one, a recent article that originated on yahoo finance was that mantra now was one of the top five d5 projects to watch in Asia, but no matter where you live mantra down and its coin om.
It’S one to keep your eye on. Last but not least, we have a very exciting platform. We’Ve talked about before called energy web, whose ticker is EWT the market cap on this one is large, ranked exactly at number 50 on coingecko at the time of this recording for a good reason to get you excited, let’s have a look at a scrolling image of the list Of participants in the energy web ecosystem, which includes industry giants such as duke energy, shell and age, as the name suggests, the platform hosts a system of managed energy sources and distribution on the blockchain. The energy sector is no small. Pawn countries go to war over interest in the sector.
Ewt intends to deploy a multi-chain pair chain structure with countries in separate grids having their own pair of chains that operate differently based on regulatory requirements. While EWT sits at a relatively high market cap, the upwards potential is huge for this one, as it looks to revolutionize the energy sector and increase the efficiency of the grid and the companies that operate on it.
While the company hasn’t confirmed 100, the polka dot will be the host of its multi-chain structure for EWT 2.0, they have strongly hinted at it and acknowledged that they are strongly considering it. Gavin wood who’s, the founder of substrate and polka dot, helped contribute to the creation of the energy web. Given the popularity of Polkadot and the team’s use of the word Parachain, it is fairly safe to say that they will settle for Polkadot as the host of their chain’s architecture.
One thing is for short energy web is a quality hold with a use case. Ecosystem and participant user base that is set to massively disrupt the energy sector, but now it’s your turn, which of these coins do you think, has the most potential? Will you be driving into the polka dot ecosystem? Will you be wearing polka dots when you do so? Let me know what you think down below in the comment section: don’t forget to visit one BTC.
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