The growing adoption of decentralised finance (DeFi) cryptocurrencies has caused a spike in new crypto projects with a focus on DeFi solutions.
The crypto market has become severely saturated with new projects being launched daily. Many individuals have been interested in meme coins as a result of the social media frenzy around them. Dogelon Mars (ELON), for example, has recently gained traction as a result of the success of Dogecoin (DOGE).
Although, meme coins are not the only hype in the crypto industry. The growing adoption of decentralised finance (DeFi) cryptocurrencies has caused a spike in new crypto projects with a focus on DeFi solutions. The newcomer CashFi (CFI) has already attracted a wide range of crypto enthusiasts despite only being in the presale stage.
Do Meme Coins Carry a Long-Term Promise?
Many crypto investors and non-investors have heard about Dogecoin (DOGE), primarily thanks to Elon Musk and his support for the coin. However, there are tons of other less-known meme coins on the market.
Dogelon Mars (ELON) is a dog-themed meme cryptocurrency on the Ethereum and Polygon blockchains, comparable to Dogecoin, Shiba Inu and Floki Inu. Dogelon Mars was labelled by its developers after being inspired by Dogecoin and Elon Musk. The coin has a substantially large fan base across many social media platforms.
In reality, ELON is a meme coin with no value other than purchasing it and storing it in a crypto wallet. On the other hand, the crypto has a strong mix of three extremely "memeable" features in its names (Elon Musk, Doge, Moon/Mars), and it might gain swiftly if the wider cryptocurrency market appreciates and the risk appetite for meme coins grows.
Nonetheless, many crypto experts warn about meme coins because of the lack of real-world utility. While some of them try to develop real use cases other than means of payment, other coins do not hold real-world use cases, thus increasing the risk of long-term survival for these projects, especially during bear markets.
An interesting example of an evolved meme coin is Vita Inu (VINU). It is the VINU Ecosystem's governance token and the native token of the Vite DAG chain. VINU is the world's first feeless (and cheeky) dog-themed cryptocurrency with high transaction speed and smart contracts.
VINU's concept is to have fun, meet new people, and learn everything there is to know about the biggest technological revolution of our time – cryptocurrency – inside an engaging, viral ecosystem. Vita Inu, in collaboration with the Vite network, aims to contribute to the development of massive DAG ecosystems in which multiple cryptocurrencies may be transferred freely, safely and effectively.
CashFi (CFI) to Take DeFi to Next Level
As the next-generation DeFi protocol, CashFi (CFI) seeks to create a dynamic ecosystem that will enable top-tier liquid staking, NFTs (Non-Fungible Tokens), and Synthetic Asset Services. CFIStaking will be a key component of the CashFi platform, assisting in the reduction of illiquidity for staked commodities through liquidity staking.
Liquid staking with CFI will address some of the industry's most pressing challenges, such as asset inefficiencies, lower returns, a lack of rapid liquidity, and diminished security. CashFi's CFI Stake liquid staking platform will allow proof-of-stake (PoS) tokens to expand even further.
You can currently purchase CFI tokens in presale. During this period, the prices tend to be lower when compared to publicly traded coins, thus making it a convenient time to become an early adopter. If you want to find out more about CashFi (CFI), more information is available via the links below.
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Last Updated Jun 24, 2022, 5:53 PM IST