3 Next-Generation Projects Changing the Crypto Narrative: Frax (FRAX), Mobox (MBOX), and Parody Coin (PARO)

Please fol­low and like us:
Pin Share

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/

Source link

Please fol­low and like us:
Pin Share

Leave a Reply

Your email address will not be published. Required fields are marked *