Big Eyes Coin, Polkadot, & Elrond: Frontrunners in the Race for the Next Big CryptoAug 26, 2022, 7:07AM
Crypto has had a remarkable few years. The bull run of 2020-21 has given way to wider macroeconomic turbulence and a crypto winter.
As the world slowly emerged from the shadow of a global pandemic that toppled many businesses, cryptocurrencies provide the ability to hedge against inflation as the utility behind the protocols, to many are seen as vastly undervalued.
With various advantages like data privacy, reduced interference of third-party institutions, and secure trading experiences, these blockchain-based assets have drawn more investors with their unmistakable edge over traditional investment options. Apart from utility projects, investors also have the option of investing in other blockchain-based assets like meme coins inspired by social media memes and through strong communities have established many new millionaires by collective holding.
If you are confused about whether to invest in a regular cryptocurrency or a meme coin, you can start by looking up some of the leading names like Big Eyes Coin (BIG), Polkadot (DOT), and Elrond (EGLD). Once you are through with the research, you can make an informed decision.
Big Eyes: A Meme Coin That's Out To Build The Future Of DeFi
A community token, Big Eyes Coin is a meme coin built to accelerate the shift to decentralized finance (DeFi) ecosystem and enable investors to gain from the potential of blockchain technology for wealth generation. The rollout of the Big Eyes platform is in tandem with the rise in the popularity of community tokens for earning passive income. Big Eyes also has a native token called BIG which can be used for a wide array of transactional purposes that include staking, yield farming, liquidity pool provisioning, earning rewards, and other similar use cases. At the heart of the platform is its aim to build a self-propagating system where every element can thrive and generate wealth.
The brain behind the platform is a team of talented cats who work 24x7 to ensure that the platform can run smoothly. The team is led by Top Cat and the technical side of the business is handled by Tech Cat or CatNipper. Hype Cat or Hypepurrr looks after issues related to the BIG Token, while TenPaws and CatSuit are the Op Cats who look after the daily operations. Meanwhile, all the legal issues land up on the plate of Law Cat of CatsEyes.
The total supply of the BIG token is 200,000,000,000 units. Of the total supply, 90% will be allocated for presale -- via public presale (70%) and exchanges (20%). The remaining 10% is split equally between marketing and promotional activities and charity donations. Those interested in purchasing the BIG Token can do so through their debit or credit card. They can even use the Ethereum card, the ETH token, or the Tether token (USDT) to make the purchase. The process of buying these tokens is also extremely simple.
In the first step, users have to download a MetaMask wallet or any other digital wallet compatible with Connect Wallet. If you are using a desktop browser for purchasing BIG Tokens, the Big Eyes team recommends the MetaMask wallet. For those opting for the mobile browser, the team recommends the Trust Wallet as it can seamlessly connect a user via its inbuilt browser.
In the second step, once their preferred wallet has been activated, users will have to click on the 'Connect Wallet' tab and then select their choice of payment method and make the payment. If you are using a mobile wallet app, you would have to opt for the 'wallet connect' option. For debit and credit card users, they will have to first purchase ETH tokens and add them to their wallets. The ETH tokens will then be used to buy BIG Tokens. The team suggests that buyers purchase a minimum of $15 worth of ETH tokens to cover the minimal level of BIG Tokens that can be bought.
The token also has an auto-burn feature which regularly destroys tokens to keep their supply scarce. A limited supply of native tokens ensures that their value remains stable and there are minimal price fluctuations.
A distinctive feature of the platform is its dynamic tax structure, which allows for charges for services like the auto-burn feature, liquidity pool acquisition, and maintenance of the marketing wallet to be included. Plus, no taxes are levied on the sale or purchase of BIG Tokens. At the same time, the platform does levy a 10% tax on the sale and purchase of NFTs. The tax proceeds are divided among the original sellers of the assets (4%), token holders (5%), and BIG Eyes' charitable donations (1%). Any donations made by the platform are visible to users through the charity wallet.
The token's name is inspired by a cat called Big Eyes, who was always called cute or meek because of his big eyes. Through a tragic turn of events, he was left to fend for himself when he was just three. What followed later was a journey of self-discovery during which he spent time on sea voyages, learning about the art of sushi, meditating, and practicing zazen and yoga. It took him some time, but he later realized that he could use his cuteness to his strength and earn millions instead, all thanks to the popularity of memes. And the rest, as they say, is history.
Polkadot's DOT token to be available on Binance in the US
Polkadot is a decentralized platform that combines and secures a network of specialized blockchain systems called parachains. The major advantage of parachains is that the dApps deployed and services offered on them can communicate across blockchain systems. The communication paves the way for an unparalleled level of interoperability. Parachains unleash a slew of advantages for developers as they are built on layer-1 protocols that are a major advancement over legacy networks. With their specialization and interconnectivity, they can create a diverse ecosystem of communities, independent platforms, and economies while ramping up the way they connect online. By leveraging on-chain treasuries, parachains can help decentralized platforms achieve a financial agency that was once limited to just government-backed institutions. They can also leverage Polkadot's in-built governance system or create their system, depending on whatever best suits a platform's needs.
Polkadot has rolled out its native token DOT, which can be used for staking, token swapping, earning rewards, and other similar transactional purposes. What's more, is that this interoperability ensures seamless transfer of any kind of assets or data on the blockchains comprising the Polkadot network.
In a recent development, Polkadot announced that its DOT token will also be available for staking on Binance and its platforms in the US. By staking the DOT Token on the Binance blockchain system, users can look forward to weekly payouts and up to a 15% annual percentage yield (APY). Plus, they can also unstake any time they may want.
Elrond's Number Of Registered Accounts Hits The 178-Million Mark
Elrond is a blockchain-based platform for building scalable and secure dApps and solutions to power the internet economy and, enterprise use cases. The decentralized platform has its native token called EGLD, which comes in handy while dealing with transactional purposes like paying fees, staking, and token swapping, among other use cases.
With its adaptive state sharding, Elrond dApps are massively scalable as the feature has the potential to bring about almost a 1000x improvement in throughput as compared to other blockchain iterations. This is facilitated via parallel transaction processing. Plus, as it is based on the proof-of-stake protocol, developers can look forward to distributed fairness and long-term security. Lastly, it is a developer-friendly platform that has an integrated WASM virtual machine that is compatible with virtual machines built on several blockchain systems.
On August 15, 2022, Elrond crossed a new milestone of registering 178 million accounts. The number of transactions processed by the platform also crossed 54,73 million, and the quantum of EGLD Tokens staked on the platform hit the 13,33-million mark during the 24 hours.
Disclaimer: information contained herein is provided without considering your personal circumstances, therefore should not be construed as financial advice, investment recommendation or an offer of, or solicitation for, any transactions in cryptocurrencies.