Blockchain-based assets like cryptocurrencies have paved the way for seismic shifts in the investment and financial services sector globally. As per Deloitte’s 2021 Global Blockchain Survey, around 76% of the respondents claimed that digital assets like cryptocurrencies are likely to either replace or evolve as an alternative for fiat currencies globally over the next 5-10 years.
The sentiment is mirrored by the rally in cryptocurrency prices and the launch of new products. Promising benefits like high returns that are immune to external factors, data privacy, and low transaction fees, these assets are disrupting the financial markets with global applications. For rookie investors who are looking for cryptocurrencies that could yield good returns even when crypto prices are going down, Dogeliens (DOGET), Cardano (ADA), and Synthetix (SNX) are good options. Here’s a brief description of their key features.
Dogeliens combines meme community power with utility
In an effort to replicate the success stories of digital goods derived from dog memes, Dogeliens aims to catalyse the cryptocurrency universe with its niche features. Users can look forward to accessing cool DeFi features on the peer-to-peer platform without any interference from third parties. The open-source platform is built on Binance Smart Chain.
The decentralized platform also has its own native token, DOGET, that can be used for a host of transactional purposes like staking and yield farming and also to earn rewards and voting rights. Users will be able to purchase it on presale.
The platform’s unique feature is that it takes a playful and engaging approach to users’ experiences, right from amusing names of features to witty references to dogs, the platform is fun galore. For instance, the platform will offer free educational resources and courses to its users on blockchain technology, decentralized finance, and cryptocurrencies via its two initiatives, University of Barkington and Dogeliens Academy.
At the University of Barkington, users could enroll themselves in a diverse program to learn everything under the sun about NFTs, DeFi, and blockchain technology. Meanwhile, at the Dogeliens Academy, users will be able to access a well-managed virtual classroom to educate them about cryptocurrencies, their scope and the course content would include informational videos and articles. A few areas of the facility would only be accessible by paying a fee or by token holders, but the majority of the facility would be free to use. The platform aims to donate 3% of the earnings made on each transaction to its charity wallet. At the end of each month, the Dogeliens community members would vote on the charities to which the assets would be sent.
Cardano: Empowering developers with high-performance dApps
The Cardano platform uses a proof-of-stake consensus protocol to enable its users to deploy scalable dApps. The network has its own native token, ADA, that can be used for staking, yield farming, and a host of other transactional purposes on the platform. Token holders also get to decide on key proposals concerning the platform’s future development and how the treasury funds are utilised. ADA Token holders can earn rewards by participation either through their own stake pool or by delegating the task of staking to a third party. The quantum of rewards earned by a user depends on the number of tokens that are staked.
Synthetix: Permissionless futures trading
The platform enables its users to create synthetic assets with decentralized features and grants them exposure to real-world assets on a blockchain system. This way, investors can look forward to permissionless and hassle-free derivatives trading on blockchains. Users can also leverage Synthetix’s liquidity and debt pools to get optimal prices with little scope for slippage. Synthetix members can use its native token, SNX, for any transactional purpose that they might encounter on the platform. Investors can earn weekly rewards and collateral with their staking activities.