3 Ways How DigiToads Will Challenge Uniswap’s DeFi Dominance – CryptoMode
The global crypto market’s revenue is expected to grow at a CAGR of 14.4% by 2027 and earn over $64.8 billion during the projected period. The figures reflect the opportunity represented by these blockchain-powered assets and how new altcoins are taking the crypto sector to new heights. If we talk about the popular altcoins of 2023, DigiToads (TOADS) deserves a mention given how it has been making waves with its presale growth. The latest ICO has crossed $6.5 million in presale funding and is currently in its last presale stage. The Ethereum-based cryptocurrency has a hybrid DeFi model that opens up new doors for anyone interested in earning passive income. The cryptocurrency has a robust security framework and smart contracts that have been vetted by some of the leading firms in the world. With its utility-driven features, not only has DigiToads carved a niche for itself but it has also surpassed several decentralized platforms like Uniswap behind in popularity. Here are three reasons why DigiToads can challenge Uniswap’s sway over the DeFi market.
1. Multiple options to boost your passive income
DigiToads is among the best altcoins for 2023 and the secret to its success is its multi-utility model. The unique economic model combines the functionality of three cryptocurrencies to give people a new-age crypto project. With his dynamic model, crypto users can look forward to exploring opportunities like staking, trading, winning tokens in Web 3.0 games, and winning daily or weekly prize draws to earn passive income. The platform has rolled out a native cryptocurrency that’s called the TOADS token which is built on the ERC-20 standard. It’s the primary cryptocurrency on the DigiToads network with a total stock of 585 million coins. The cryptocurrency ICO is very popular and 92% of the TOADS tokens allocated for the presale stages have been sold so far.
2. A deflationary token that keeps your returns safe
The TOADS token is a versatile cryptocurrency whose benefits are too many to count. Apart from the usual features, the TOADS token has a unique feature – a deflationary character. A deflationary coin is your best friend if you are dealing with a crypto market that’s reeling under market volatility and inflation. The token controls price fluctuations by keeping the token supply scarce and always below the demand for the token. If there is any mismatch between the demand and the supply of the token, the extra tokens are burned during the ‘token burn’ events.
Follow CryptoMode on Twitter, Youtube and TikTok for news updates! There are various other mechanisms through which the deflationary mode is implemented. For example, the DigiToads team levies a small tax on the purchase and sale of TOADS tokens. These taxes are paid in terms of TOADS tokens and the lion’s share of the tax proceeds are used for maintaining the staking and reward pools and managing the treasury. However, a small portion is burned to ensure that the supply doesn’t go haywire.
3. Popular staking features that provide passive income
For many analysts, DigiToads’ staking feature is among its key USPs. Cryptocurrency users can purchase NFTs and then stake them to support the platform’s growth. The longer they stake the asset, the higher would be the rewards that they will earn. To ensure that all stakers are duly rewarded for their efforts, the DigiToads team maintains a dedicated staking pool by deducting 2% of all TOADS transactions.
Uniswap unveils new blockchain protocol known as UniswapX
Counted among the leading decentralized exchanges of the world, Uniswap can be credited with rolling out the first automated market maker model. It’s powered by Ethereum and is compatible with multiple blockchains. Its native cryptocurrency is the UNI token and it’s used for various transactional purposes on the network. The DeFi exchange recently hit the headlines after launching a new blockchain protocol known as UniswapX. The new protocol will offer gas-free swaps and will not levy any cost for failed transactions.
Conclusion
Both Uniswap and DigiToads are top cryptos to invest in and can give other tokens a run for their money. However, if you sit down to compare them, DigiToads ends up having an ace up its sleeve that Uniswap doesn’t – a higher growth potential. Combined with its decentralized governance structure and hybrid DeFi model, DigiToads serves as a dependable project where one can experiment with multiple ways to earn passive income. With policies like incentivizing users to actively participate on the platform, DigiToads also keeps motivating its community members to act in its best interests.
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