Crypto Frenzy: Cardano Sees Volume Explosion, DigiToads Poised for a 1000% Leap $7 Million Raised In Presale
The cryptocurrency market is in the news again. This time for the massive jump in Cardano prices and the impressive presale success of the newly launched meme coin called DigiToads (TOADS). The meme coin is powered by Ethereum and leverages the features of hybrid DeFi to offer its users a multitude of opportunities to boost their residual income. It is now being considered among the top crypto coins as it drives impact by enabling more crypto users to become financially independent. DigiToads’ presale growth has set the pace for analysts who feel it is going to be an explosive launch for the meme coin. Having completed nine out of 10 presale stages, the ico is nearing its end. So far, it has collected over $6.9 million in presale funding.
DigiToads: Promising explosive growth with hybrid DeFi solutions
DigiToads is a highly innovative crypto project that’s built on a hybrid DeFI model. The feature makes it a good crypto to buy as one can explore more than one way to earn passive income on the platform. The opportunities that crypto users can explore on DigiToads include staking NFTs, trading tokens, winning crypto rewards in play-to-earn games, and getting rewarded for actively participating on the platform. To ensure that all transactions are executed seamlessly on its network, the platform has rolled out a native cryptocurrency that’s called the TOADS token. All rewards given out by the DigiToads team will also be in terms of the TOADS token.
Apart from transactional purposes, the TOADS token is also used for governance of the platform. Being a decentralized network, DigiToads encourages its community members to participate in the decision-making process and express their concerns about operational matters. If community members want to suggest any changes, they can pitch a proposal which will be put for a vote before all token holders. All token holders get voting rights to vote for such proposals. These proposals suggest changes in the DigiToads protocol which community members feel can improve its scope.
Another reason why there is such a rush among crypto users to get their hands on the TOADS token is because of its deflationary character. The deflationary model mandates that the token supply always stays scarce so that price fluctuations are minimal. The mechanism also shields token holders’ returns when the market gets volatile. If the supply increases, it’s brought back within the stipulated limit by burning all extra tokens that might be in circulation.
Talking about DigiToads’ staking mechanism is a lucrative opportunity where NFT owners’ patience is duly rewarded. The longer an NFT owner is willing to stake their digital asset, the higher would be their rewards. The staking rewards are distributed from a dedicated pool that’s funded by allocating a share of the proceeds from all TOADS transactions. NFT owners will also be eligible to attend informative sessions on subjects like cryptocurrencies at DigiToads’ upcoming online think tank. The other project that the DigiToads team is currently working on is an official merchandise range. The amount raised from the sale of the merchandise will be donated to support the efforts of organizations involved in preserving rainforests and planting more trees.
Cardano-based DEX to refund users for losses due to slippage
One of the best altcoins to buy now, Cardano is a user-friendly platform that leverages the Ouroboros protocol to help developers in deploying scalable dApps. Its native token ADA is the primary coin on the network. The platform uses the proof-of-stake consensus algorithm to secure its network and verify transactions. In a recent development, Cardano-based crypto exchange MuesliSwap announced that it would be refunding users for the losses incurred due to slippage in the past year.
Conclusion
If you are looking for the best crypto investments of 2023, Cardano and DigiToads are sure to make the cut. However, analysts feel that DigiToads has an upper hand over Cardano because of its higher growth potential. According to these experts, a hybrid DeFi model enables DigiToads to reach out to a larger audience and equip them with solutions that can secure their future. Be it staking, trading, or winning tokens in Web 3.0 games, a crypto user can turn any of these opportunities into a steady source of income. Plus, as the platform incentivizes participation, crypto users are encouraged to interact with the platform and contribute to its growth.
Disclaimer
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About The Author
Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.
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Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.
