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CATEGORY: fantom crypto


Mar 04, 2022 02:25

What is Solidex Crypto: READ THIS Before investing – Full Guide

This article is a deep dive into Solidex crypto. If you recently heard about Solidex, Solidly, and its token, this article will introduce what this project is about. No matter what your level of understanding is, we'll break complex things into easy-to-grasp concepts.

There are thousands of projects in the crypto space. Keeping up with most of them can be quite hard. This is especially true as every day, more than 80 crypto projects come to life. On the other hand, some projects can be quite deceiving. That's why investors need to make sure that crypto projects have actual use cases and users can truly benefit from the services offered.

Solidex recently made headlines in the crypto community when its total locked value (TVL) reached around USD 2 Billion within just a few days since the project launched. That's the true power of crypto! Let's break down what Solidex, Solidly and Fantom have all in common.

What is Fantom and FTM?

Fantom is a decentralized blockchain that allows developers to build decentralized apps (Dapps) on top of its blockchain. Fantom is very similar to Ethereum, and even fully compatible with its blockchain. On the other hand, it offers additional characteristics that make it a proper competitor to Ethereum and even other smart contract blockchains.

Fantom's "layer 1" is called Lachesis, and handles the hard work on the blockchain, along with verifying the transactions via a proof-of-stake (PoS) consensus. Every time a new project gets deployed on Fantom, a new blockchain gets created as a "layer 2". This ensures that "layer 1" doesn't get overloaded and enhances scalability and speed.

FTM is the native token on the Fantom blockchain. Users can utilize it to pay for fees when deploying Dapps, to stake, and for governance. Now onto the next piece of the pie...Solidly!

What is Solidly DEX?

Solidly is a Decentralized Application (Dapp) built on top of the Fantom blockchain. Since Solidly is an exchange, it will naturally be a Decentralized Exchange (DEX) using automatic market-making (AMM). Let's break this down:

  • A Decentralized exchange (DEX) is a platform where parties buy or sell different assets.
  • Automatic Market Making (AMM) is a standard where instead of having different parties negotiating their sales in a peer-to-peer exchange, an order would fill automatically through a peer-to-contract exchange, thus automating the entire process without any intervention.
What is SOLID Token?

The native token is the SOLID token, and users can vest it by creating a lock (1 week, 1 month, 1 year, or 4 years). When doing so, users will receive in turn VeNFTs. The higher the lock duration, the more valuable the VeNFT would be. All the fees from the platform become earnings for VeNFT holders. This is the same concept as having a locked savings account for 5 years that earns an interest in the bank. But imagine you wanted to break this lock, most traditional banks won't allow that to happen. In DeFi, you can simply sell the "ownership" of this account to someone else, represented by selling the associated VeNFT. Thank you DeFi!

Quick recap: Solidly uses the Fantom blockchain and provides liquidity pool services and staking. Its liquid native token is SOLID, and the "not-so" liquid other asset is the VeNFT.

The project started back in January 2022 and aims to provide a platform where users can participate in liquidity pools (LPs). The famous Andre Cronje also is responsible for building Solidly. He is also known to have founded Yearn.Finance and other major DeFi projects. Solidly claim to have very low fees as they operate on the Fantom blockchain, and focus on secondary markets where stablecoins and other volatile cryptos are swapped. Now, what does Solidex have to do with all f this? Well, let's introduce SOLIDEX CRYPTO!

What is Solidex Crypto?

Solidex is an optimizer for Solidly. It accumulates SOLID tokens (from Solidly) and provides more liquid alternatives and earns higher yields since you'll be receiving their own protocol token. Now don't giggle, as their own token is called SEX, and their liquid token is called SolidSEX.

85% of the SOLID rewards that Solidex is earning goes to the pools, 10% goes to people who have staked their tokens for SolidSex, and 5% goes to people who have locked their SEX tokens. If you lock SEX tokens, you will receive fees and bribes generated from the platform. Many estimate that this is a significant amount, hence why all the hype around this project.

Quick Recap: Solidex allows users to receive higher SOLID rewards without the need to maintain the total lock duration. The APR yields range from stablecoins to volatile tokens.

How to Use Solidex?

Since Solidex is a Dapp, you'd need a wallet that supports it. Those types of wallets will help you send, receive, and store digital assets. Wallets come in many forms. They are either built into your browser, an extension added to your browser, a piece of hardware plugged into your computer or even an app on your phone. Metamask is a well-known wallet that supports Solidex. You can check an extensive guide on how to download it here.

How to Earn on SOLID Tokens?

Disclaimer: It is very important to remember that investing (especially in DeFi) carries a lot of risks. Invest only an amount you are willing to lose.

1- Participate in Pools

Go to Solidex Pools, and look for the ones that have high APRs. You can even use the filters on the table to directly spot the highest APR.

2- Convert to SolidSex

Another way to earn is to convert your SOLID tokens into SolidSex. In order to do so, you simply go to the Convert Solid section and enjoy a high APR.

3- Convert to NFT

The last way to earn on your SOLID tokens is to simply convert them to NFTs on Solidly. The APR won't be as high as the previous earning methods, but you won't have to worry about farming.

How to Buy SOLID tokens?

There are many ways to get ahold of SOLID tokens. The easiest way to do so is the following:

  • Buy some USDC coins on Binance
  • Send your purchased USDC coins to your Metamask wallet
  • Go to Spookyswap
  • Connect your Metamask wallet to Spookyswap
  • Swap USDC to SOLID
Solidex© Cryptoticker

Jan 08, 2022 07:10

Those 3 Cryptos can RECOUP your Losses after the Bitcoin Crash

The Bitcoin Crash has unsettled many investors in the last few days. Can you still trust Bitcoin and other cryptocurrencies as investments? Well, a crash always offers an opportunity to buy cheap and profit big in the next few weeks and months. Let's talk about 3 crypto buys that you could invest in right now, and will recoup your previous losses from the crypto crash.

#1 Terra (LUNA)

The Terra network aims to promote the acceptance of cryptocurrencies in the financial world. It introduced Fiat-based stablecoins. The prices of these stablecoins are calculated by decentralized oracles on the chain. LUNA is Terra’s network token. In the last few weeks, the LUNA token has risen to the top 10 cryptocurrencies by market cap.

The rise of Terra began as the classical financial world became more closely intertwined. Furthermore, the growing market of decentralized financial products (DeFi) benefits the value of the LUNA token. The increase in value should continue over the next few weeks. Due to the crypto crash on the market, LUNA is relatively cheap to buy at the moment, and happens to reach a support area.

Fig.1 LUNA/USD chart for the past month - coinmarketcap

#2 Avalanche (AVAX)

Avalanche was called an "Ethereum killer" in 2021, along with other cryptocurrencies such as Cardano and Solana. This is how smart contract platforms are called, which offer significantly lower transaction fees and other advantages compared to Ethereum (e.g. security). Avalanche can process up to 4,500 transactions per second because, unlike other cryptocurrencies, it uses multiple blockchains.

Especially in the area of ??NFTs and DeFi, the Avalanche network has seen more and more opportunities in recent weeks. The network continues to grow. Indeed, there is a possibility that Avalanche could at some point be on a par with Ethereum. Here, too, you can take advantage of the low prices of cryptocurrencies at the moment due to the recent crypto crash.

Fig.2 AVAX/USD chart for the past month - coinmarketcap

#3 Fantom (FTM)

Cryptocurrencies that are extremely fast and extremely scalable should determine the future of the market. This includes Fantom, which uses a novel consensus mechanism called Lachesis. As a result, the transaction speed in the Fantom network is very low. The average should be less than a second. 

The network's native token is the FTM token. This could be an excellent long-term investment in the next few years. Decentralized applications should queue up in 2022 to use the Fantom Blockchain. Last week the FTM course exploded. Due to the crypto crash, the token is currently cheaper again.

Fig.3 FTM/USD chart for the past month - coinmarketcap

You can purchase the cryptocurrencies mentioned above on the Binance ,  Coinbase ,  Kraken  and  Bitfinex crypto exchanges.

If you don't want to miss any news from the crypto world, then be sure to subscribe to our premium area!

Crypto Trading© Cryptoticker

The post Those 3 Cryptos can RECOUP your Losses after the Bitcoin Crash appeared first on CryptoTicker.

What is Fantom Crypto? Should you Buy FTM?

Author: Owotunse Adebayo
Germany
Sep 27, 2021 07:10

What is Fantom Crypto? Should you Buy FTM?

Blockchain technology has provided developers with various options in the creation of decentralized apps through smart contracts. Not only decentralized apps, but technology is now a moving force in the finance sector due to the recent solutions that have been created. The birth of the first digital project, Bitcoin, has opened the door to other projects, which have made their way into the crypto sector. One such project is Fantom crypto, and in this article, we will be looking at the project, its native token, FTM, and its benefits to traders in the crypto sector.

What is Fantom crypto?

Fantom has been earmarked as another game-changer in the decentralized finance sector because it is a scalable and secure smart contract platform. According to the specifics, Fantom was built to challenge certain limitations that have previously reduced the performance of blockchain platforms.

Fantom uses Lachesis to carry out its operations. Seen as the game-changer, the Lachesis uses an Asynchronous Byzantine Fault Tolerance (aBFT) consensus, making Fantom transactions cheap and fast compared to old blockchains. The three end product of Fantom is its speed, security and its scalability. Traders who hold the Fantom token can earn massive rewards by staking their tokens on the network.

How does Fantom work?

Fantom claims to solve a Blockchain Trilemma, which is the ability to balance decentralization, speed, and security in the Defi sector, a challenging feat to date. To achieve this, Fantom deploys its permissionless protocol, using the aBFT to solve issues arising from decentralization and security before solving speed issues as transactions are carried out asynchronously.

Moreso, Fantom says it offers traders a high level of security and scalability while adding a fast transaction speed to complete the equation. The most surprising aspect is that it claims that all these features are carried out at very low fees, which is hard to come by in the crypto sector.

Benefits of Using Fantom crypto

Transactions carried out on Fantom resolve in a second, with the network charging $0.000001 in costs for the transactions. Also, transactions made on the FTM platform are highly secure thanks to the proof of stake mechanism deployed on the network.

Traders who choose to stake their tokens on the network get a reward with a minimum and maximum annual percentage rate of 3.79% and 11.59%. However, the determinant factor behind the rate of the APR solely depends on how much token a trader chooses to trade and the time that the tokens were on the network.

Notably, traders who decide to stake their Fantom tokens cannot sell, trade, or buy them as they would need to first unstake them. FTM also offers on-chain governance in the sense that token holders and stakers have a say in how the network is run.

They allow to bring new changes, vote on important issues, and have a say in the roadmap of the network. Validators have massive involvement in significant activities on the network like validating transactions, preventing spam, etc., also reward in FTM tokens.

Fantom Price and Future Prediction

According to its tokenomics, the Fantom token has a total supply of 3.175 billion, with about 2.1 billion of those already in circulation. Fantom costs $1.32, with the token seeing a jump of 6.95% in the last 24 hours. It presently occupies number 48 on coinmarketcap, and its 24-hour trading volume is $416,099,791. Fantom projects to hit close to $10 in the next years because it brings something spectacular to the crypto market.

Fantom Crypto© Cryptoticker

The post What is Fantom Crypto? Should you Buy FTM? appeared first on CryptoTicker.

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