Today, there are more than 19,000 tokens available on CoinMarketCap. A lot of these tokens were performing well and were aiming for new heights, but the recent crypto crash caused drastic performance shifts.
Almost every crypto coin is trading in red and has faced losses since the start of 2022. These cryptos include Ethereum (ETH), Cardano (ADA), and Litecoin (LTC). Researchers and analysts blame factors like policy changes, high inflation, and post-pandemic crisis for the current situation.
Although the market is not perfect, new projects are being developed. For example, the new project Adirize DAO (ADI), is in the initial stages and will launch shortly. Let’s compare it with highlighted tokens to learn more about them.
What is Cardano (ADA)?
Cardano (ADA) is a decentralized platform for crypto exchange and trading. The $ADA tokens are used for gas fee payments and staking for rewards. It works along with smart contracts for a better user experience. In addition, it reduces transaction fees, increases security, and improves transparency.
It uses peer-reviewed research for developments and updates in the ecosystem. This means the new features are first developed, reviewed, and then released in the market. This strengthens the system and avoids the risks of bugs.
About Litecoin (LTC)
Litecoin (LTC) is another token affected by the crypto crash. It is a peer-to-peer crypto token built on bitcoin protocols. It is similar to Bitcoin (BTC) but has a few better features. For example, Litecoin (LTC) is faster and can verify more transactions than Bitcoin (BTC). Also, it has an improved security system.
It uses the Proof of Work (PoW) mechanism for mining new crypto coins. Additionally, it has a lower level of transaction fees when compared to Bitcoin (BTC).
What is Adirize DAO (ADI)? A brief overview
In recent months, we witnessed a sudden collapse of stablecoins in the cryptocurrency market. As the prices of USD shot up, it was difficult to peg these tokens to the fiat currency. This happened due to the centralized control (central bank or government) on the stablecoins. And this is what Adirize DAO (ADI) wants to change!
ADI is a native crypto token of the Adirize DAO ecosystem. It strives to become a decentralized reserve protocol to address the limitations of decentralized finance (DeFi).
With this new token, the team aims to replace government control and give birth to un-pegged stablecoins in the market. Instead of pegging the tokens to USD, a protocol-owned crypto-asset reserve will be used for backing the tokens. With this, the coins will be volatile and stable in nature.
Features of Adirize DAO (ADI)
To achieve its goals and secure a top position, Adirize DAO (ADI) will introduce new features to achieve its goals and secure a leading position. These include:
Staking is an important tool used to retain the value of tokens in open market operations. Here users buy or exchange liquidity for $ADI tokens and use the Adirize DAO ecosystem for staking. It is a long-term investment strategy that can help users to earn incentives and rewards.
The bonding tool works simultaneously with Staking. While the staking accumulates value into the treasury, bonding locks the $ADI tokens to limit their outflow. It is a rather active and short-term investment strategy that enables users to earn profit in a shorter period.
The project is a community-based platform that strives to empower users. It uses a decentralized autonomous organization (DAO) to operate. This feature enables users and investors to vote for upcoming changes in the project. This feature is temporarily limited to $ADI on Ethereum Blockchain.
Adirize DAO (ADI) is a new project with a unique perspective of the crypto market. The project strives to be a next-generation reserve protocol to root out the reasons for instability in cryptocurrency. It aims to replace the centralized control behind stable coins with a decentralized one. This change can bring a significant impact on the crypto industry. The project has the potential to grow, and it might even compete with Cardano (ADA) and Litecoin (LTC) despite the crypto crash crisis.
For more information, check out the following links.
Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.