Top 3 Crypto Assets to Add to Your Watchlist in 2022: GryffinDAO, Harmony and Cronos
Cryptocurrencies have been a game changer for the financial industry, which until now has relied on a traditional system to generate wealth. With rapidly developing blockchain technology, digital assets have also evolved to meet the needs of a wide audience while publishing impressive results. According to a report, in 2020-21, the value stored in decentralized financial protocols such as cryptocurrency platforms recorded a 14-fold increase over the previous year. The jump in numbers reflects the unmatched potential of these digital assets which had outperformed many conventional assets even when market conditions were far from optimal. Suppose you are worried about crypto prices going down. If so, you can start by investing in options like GryffinDAO (GDAO), Harmony (ONE) and Cronos (CRO), which have a history of posting sustained results. Here’s a quick look at what sets them apart.
GryffinDAO: Crypto trading with a difference
The blockchain-powered platform enables users to trade financial products such as cryptocurrencies. GryffinDAO has its own native token called GDAO. It can be used for many transactional purposes including staking, bonding, yield farming, contributing to airdrop rewards and liquidity pool. The GDAO token can be purchased on pre-sale. However, such tokens may have a lock-in period of up to two months. The provision for an accrual period is aimed at maintaining good liquidity at all times and minimizing price fluctuations.
Another use of the GDAO token can help users gain voting rights. GryffinDAO’s governance structure is a decentralized independent organizational pattern, which focuses on including the voices of all stakeholders. So when a community member presents a proposal regarding an operational issue such as a new partnership or project, token holders can vote for it and thus contribute to the platform’s development.
While the GDAO token has multiple use cases, it is built on a deflationary model that adjusts supply by burning tokens so that they remain scarce in number and their value does not fluctuate. It is controlled algorithmically to keep the price stable. These tokens are linked to other decentralized assets to keep fluctuations at bay. The mechanism also burns or mints new tokens when the supply falls or rises above the optimal level.
GryffinDAO has a well-rounded NFT mechanism that provides access to these digital assets for the average investor. Users can auction and trade NFTs in a secure virtual marketplace on the platform. NFT holders can participate in lottery competitions with attractive prize pools distributed every four weeks. The size of the prize pool depends on aftermarket sales and mintage prices.
Harmony: Balances security, decentralization and stability
The open source system’s claim to fame is its two-second transaction finality and cost efficiency. The average cost of each transaction on Harmony is approximately $0.0001, and the total value of assets currently locked on the platform is $1.9 billion. The platform has its native token that can be used for any transaction purpose that users may encounter in the Harmony ecosystem. Its main USP is how it strikes a balance between decentralization, stability and security via random state slicing – leveraging 250 nodes per shard and cryptographic circumscription protects investors’ assets from security attacks.
Cronos: Seamless porting of dApps and smart contracts
The decentralized platform is built on Ethermint and enables seamless porting of dApps and smart contracts to Ethereum-compatible virtual machines and platforms. The blockchain network has launched its own native token CRO which comes in handy while users have to fulfill any transaction obligation such as stake, yield farming, earn rewards and much more. The Cronos EVM Fund also allocates funding of one million dollars per project to promising ideas from third-party developers.
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