New to Blockchain-based Community Tokens? Start with Decentraland, ApeCoin and HUH Exchange

Community tokens have overwhelmed the cryptocurrency market by demonstrating the power of a social community. Decentraland (MANA), ApeCoin (APE) and newcomer HUH Exchange (HUH) take the lead in the sector.

These tokens are created for membership and individuals must have the token to enjoy the community benefits. Such benefits may include token rewards or airdrops, voting rights, access to exclusive events, etc.

While many community projects are on the market, some offer more benefits than others. Here’s how the Decentraland (MANA), ApeCoin (APE) and HUH Network community projects work.

Decentraland (MANA) – Gaming for Profit

Decentraland (MANA) is a decentralized Metaverse built, governed and owned by the users. It is a virtual reality platform that runs on top of the Ethereum blockchain, allowing users to create, experience and monetize content while interacting with other users.

Decentraland (MANA) users can buy LAND and create everything from static structures to immersive peer-to-peer apps using custom programming. The platform’s flexibility enables applications for real estate, gaming, full-service casinos, marketplaces, businesses and tourism.

While the platform has other tokens, such as LAND, the ERC-20 MANA token is what powers the virtual reality platform, MANA is used to pay for virtual plots of land and goods and services in the world on the platform. It also acts as the governance token, giving holders access to the DAO and voting rights on the direction of the platform.

ApeCoin’s (APE) Key Successes

ApeCoin (APE) is a governance token that runs on the Ethereum blockchain. It was originally sent to Bored Ape Yacht Club and Mutant Ape Yacht Club NFT owners, but anyone can buy the coin now.

While Yuga Labs, the company that developed Bored Apes NFTs, did not officially release ApeCoin (APE), the trustee of the Bored Ape Yacht Club project, the Ape Foundation, which oversees the ApeCoin DAO, did.

Note that ApeCoin DAO is a decentralized autonomous organization (DAO) where cryptocurrency owners can use their tokens to determine the future of the Bored Ape Yacht Club metaverse.

In addition, holders of ApeCoin can use the token to purchase goods in the ApeCoin metaverse, such as digital real estate in Yuga Labs’ NFT universe.

What is HUH Exchange (HUH)?

HUH is a social blockchain for users and creators. Similar to the Ethereum blockchain, HUH aims to host high-quality popular blockchain apps while providing a fast, cheap and scalable network through the implementation of Proof-of-Stake (PoS) consensus.

The network will also offer wallet and exchange services while being decentralized. It will also prioritize simplicity to make the platform easier for everyone, regardless of their experience level.

The network will be EVM compliant; therefore, it will allow projects operating on other EVM compatible blockchains to transfer to the network without any challenge.

The platform’s native token, HUH, will allow the network and apps developed on it to run a PoS consensus mechanism while still acting as a governance token for the community. Individuals can become validators on the network and receive transaction fees in HUH.

The holders of HUH tokens can contribute to the network’s decision-making while enjoying the decentralized social platform and DeFi product hub.

The project is currently on pre-sale to fund all the plans and offers an exciting bonus percentage to users who deposit different cryptocurrencies to buy. You can receive around 10 to 20% extra tokens if you deposit ETH, BNB, USDT, SOL, DOGE, SHIB, BTC, LTC and XRP. You can also get additional 8, 5 and 3% tokens if you buy in the first, second or third pre-sale phase.

Since community tokens rely on community members holding and using the token to maintain its value, it’s best to find one with a huge community. Experts are quite optimistic about HUH Exchange as more crypto enthusiasts come on board. Check out the platform’s website to learn more and join the pre-sale.

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