The decentralized fundraising opportunities presented by the crypto world has spurred a spate of innovations that are seeking to change how we engage with technology to make our lives better.
Just this year, thousands of new ICOs and crypto launches are vying to carve out a niche for themselves. Some of these newcomers are already shaking the foundations beneath already established players. Here’s a quick look at some of these tokens:
Snowfall Protocol (SNW)
Snowfall Protocol (SNW) is a multichain compatibility bridge. In simple words, Snowfall Protocol (SNW) connects multiple blockchains with one another, allowing users to move their assets between them. The applications of Snowfall Protocol (SNW) are enormous. For this reason, Snowfall Protocol (SNW) presale was a massive success.Snowfall Protocol (SNW) is already trading at a 30% premium at $0.065 in the gray markets and expected to grow by 5,000% by the time of its launch.
Other features of Snowfall Protocol (SNW) include staking and yielding opportunities, asset swapping, and a low investment fee. Investors on Snowfall Protocol (SNW) can hope to make anywhere between 23% to 389% on various liquidity pooling opportunities. Naturally, its competitors like Curve (CRV) are facing the heat from this newcomer. Snowfall Protocol (SNW) has been trending among the most popular tokens almost every day for the past week.
VIDT Datalink (VIDT)
VIDT Datalink (VIDT) is an open-source platform that’s bringing trust and verifiability to the crypto world. Users can use VIDT Datalink’s features like timestamps and NFTs to register digital assets like documents, certificates, sensor data, and more. Since VIDT Datalink maintains complete chains of custody of the assets, anyone can browse and check them anytime. VIDT Datalink also facilitates quick and immutable transaction of such assets. Users can buy and sell VIDT Datalink-verified assets on the platform for low transaction fees and without any fear of transaction fraud.
Although the tech has been used by the likes of IBM, VIDT Datalink has a long way to go before it becomes the mainstream choice for businesses. VIDT Datalink’s market cap is barely $15 million, despite its 3-year presence in the industry. For this reason, it did not take Snowfall Protocol (SNW) much effort to leave behind VIDT within such a short time of its presale.
Curve DAO (CRV)
Curve (CRV) is a decentralized exchange which originally started as a dex for stablecoins and its native token is Curve DAO (CRV). Today, the platform has evolved into a dex for ERC-20 tokens. Curve DAO (CRV) uses an automated market maker to manage liquidity on the platform. Curve DAO’s native token CRV gives holders governance rights on the platform, who can vote on all major decisions. Curve DAO (CRV) has also deployed staking and yielding facilities on the platform, which has attracted many crypto investors to the platform.
The low fees charged by Curve DAO (CRV) on transactions has made it a favorite destination for users to swap supported tokens affordably. Although all of these have pushed Curve DAO’s value up, the enormous proliferation of similar tokens threatens its future. Whether Curve DAO (CRV) will innovate fast enough to survive the competition remains to be seen. For instance, Snowfall Protocol (SNW), with its own staking and yielding opportunities has already managed to siphon off a huge number of users away from Curve DAO (CRV).
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