3 Next-Generation Projects Changing the Crypto Narrative: Frax (FRAX), Mobox (MBOX), and Parody Coin (PARO)
Decentralised finance (DeFi) is changing the way crypto communities interact with liquidity. There is a DeFi protocol for every financial action: lending, borrowing, staking, and earning yield. This take on the finance management using DeFi projects has seen an insane rise in the value of locked liquidity with curve finance leading the pack.
DeFi projects are creating new avenues for users to earn and get yield on their crypto. In addition, these projects are powering crypto by making liquidity freely accessible and rewarding those who provide it.
With the large influx of decentralised finance projects, how can you tell the ones to watch? Here are 3 examples that are changing the crypto narrative in 2022: Frax (FRAX), Mobox (MBOX), and Parody Coin (PARO). These projects are bringing a new paradigm to the sector by changing their approach to finance.
What is unique about Frax (FRAX)?
Frax (FRAX) is a fractional-algorithmic stable coin that powers transactions in crypto. This DeFi project is a token that represents USD 1:1 but is not backed by fiat. Currently, the stable coin is accessible on Ethereum (ETH) but there are future plans for integration with other blockchains. Unlike DAI which uses an over collateralised mechanism to achieve its 1:1 USD peg, FRAX is backed half by crypto assets and half by an algorithm that ensures FRAX maintains its peg. The algorithm would release and contract the supply of collateral ratio in response to any price fluctuations.
Frax Shares (FXS) is the governance token of the protocol and it allows users to vote and make critical decisions regarding the future of the protocol. FXS also accumulates excess collateral value, fees, and seigniorage revenue. Frax is highly scalable and decentralised as it is in the prime position to disrupt the DeFi space by being the first fractional-algorithmic stable coin. As a community governed protocol, it is easy to see how much FRAX has changed the way crypto enthusiasts interact with stable coins.
Mobox (MBOX) – combine the best of both worlds
Mobox (MBOX) is a gaming metaverse that combines the use of gaming NFTs and DeFi yield-farming to create the MOMOverse. It is a cross-platform experience that can be enjoyed across multiple devices without any lag or delays.
Furthermore, it turns users into creators and consumers of content as it gives them the liberty to interact with the protocol as they please. MOMOverse rewards developers, builders, collectors, and players. Using decentralised finance in this unique way has created an avenue for a new set of users to be introduced into the space.
The MBOX is the native utility token of the project. It has numerous functions on the protocol including liquidity mining, staking to earn NFT mystery boxes, governance for voting on the future of the protocol, and as in-game currency. There are 1 billion MBOX tokens in existence on the protocol.
Parody Coin (PARO) – transforming NFT scene
The Parody Coin (PARO) ecosystem is intended to make the most intriguing and beneficial parts of the NFT markets more available to everyone who is interested. It allows you to mint parodies of the most popular NFTs in the business. It also provides a way for trading these NFT parodies and earning money. Users can extract utility value from a functional NFT in the same way that they would from the original NFT.
Parody Coin (PARO) is a DEX aggregator that sources liquidity across multiple chains. It pools this liquidity into one accessible spot so traders and investors can access multiple pools across multiple chains without feeling restricted. This is a relatively new phenomenon in DeFi because most projects before now focus on facilitating swaps on one blockchain. PARO stands out by creating a seamless interaction with multiple blockchains and low fees to back it up.
Parody Coin (PARO):
Join Presale: https://presale.parodycoin.io/register
Website: https://parodycoin.io/