This 12 months has undoubtedly been probably the most bullish years on document for cryptocurrencies.
Bitcoin (BTC), Ethereum (ETH) and quite a few different giant cap cryptocurrencies achieved their all-time highest values amidst rising institutional curiosity from the likes of PayPal, Tesla, and BNY Mellon. This has despatched the market right into a shopping for frenzy, as savvy buyers look to identify probably the most undervalued crypto property earlier than they start exploding in worth.
On the subject of assessing the potential worth of a challenge, one easy metric stands out above all else — market capitalization. Early-stage initiatives with vital potential however a comparatively low market capitalization signify probably the most doubtlessly profitable alternatives, since they’ve the potential to realize appreciable development.
Nevertheless it takes a discerning eye to separate the hype jobs from the initiatives with real prospects. Right here, we check out three initiatives we expect have the basics, group, and merchandise essential to explode within the close to future.
Prophecy is an attention-grabbing one. Like Bitcoin, it’s constructed to supply a wholly new monetary ecosystem that resolves among the largest gripes with conventional cash. It’s additionally created by an moral nameless workforce, that places its group on the forefront whereas working within the background to construct a set of Defi monetary merchandise that empower its customers.
In contrast to many different blockchain protocols that are usually only a copy and paste of one thing else — with just a few further options slapped on prime. Prophecy is a wholly unique platform constructed round a novel consensus mechanism referred to as Proof-of-Dedicated Decay (or PoCD) — which basically stimulates the Prophecy financial system to stay as liquid as potential whereas guaranteeing that the availability of PRY tokens is carefully balanced to demand to forestall lack of buying energy.
However right here’s the place it will get much more attention-grabbing. Prophecy isn’t simply offering a sound financial unit within the PRY token, or a next-generation financial protocol, it’s additionally constructing a whole vary of merchandise that leverage this know-how to supply a variety of use-cases to PRY holders. The primary of those is already dwell now — ‘Prophet Swimming pools’ — which basically yield swimming pools that speed up the incomes course of to a matter of hours or days.
In whole, the workforce behind Prophecy plans to launch greater than eight completely different monetary options within the subsequent 12 months alone — indicating massive issues could also be in retailer for this challenge. And with a tiny market capitalization of just below $2 million, its sturdy fundamentals and the fast tempo of improvement make it one price watching.
If you happen to’ve been concerned within the cryptocurrency area to any main capability within the final 12 months or so, then you definately’re possible conscious that decentralized lending and borrowing platforms are terribly widespread.
They’re regularly utilized by DeFi merchants seeking to leverage their long-term positions and debtors aiming to extract liquidity from their property. On prime of this, lenders can use them to earn a secure return on their property.
However these open lending platforms have been largely restricted by two main issues: they typically couldn’t facilitate undercollateralized loans and regularly undergo from the excessive gasoline prices on the Ethereum blockchain. That’s, till now.
The fashionable decentralized lending platform EasyFi resolves each of those challenges by leveraging Polygon’s (previously Matic Community’s) layer 2 know-how to cut back transaction charges to a naked minimal whereas enabling debtors to take out undercollateralized loans because of its TrustScore integration.
⚡Get up World….to the ability of #Polygon⚡
— @easyfi.community (@EasyfiNetwork) February 10, 2021
It additionally incorporates a novel incentive mechanism, which sees customers rewarded with EASY tokens for utilizing the platform. These EASY tokens can then be staked to earn MATIC tokens, giving customers two ranges of rewards only for taking out or offering low-interest loans.
With a small market cap of round $24 million, EasyFi is only a fraction of the dimensions of bigger, however arguably weaker options. And with transaction charges now changing into a serious burden to an enormous proportion of cryptocurrency customers, it wouldn’t be shocking if it sees an enormous inflow of customers within the close to future — doubtlessly driving its market capitalization up significantly because of this.
RAMP is a brand new DeFi platform that goals to provide cross-chain liquidity on/off-ramp that enables customers of non-ERC-20 property to shortly and simply make the most of their staked property by depositing them on the platform to mint a stablecoin referred to as rUSD.
As a stablecoin issued on the Ethereum blockchain, rUSD can then be used to take part within the intensive Ethereum DeFi ecosystem — with out having to trade the cross-chain property they deposited as collateral.
If you happen to’re in DeFi, try my companion $RAMP:
– Get a stablecoin in trade for staked property
– Deploy that stablecoin into DeFi protocols for extra earnings streams
– Staked property redeployed into staking/yield farming to generate passive earnings
There’s much more ⬇️ pic.twitter.com/opa5epUtRi
— The Crypto Canine📈 (@TheCryptoDog) February 9, 2021
By doing this, customers not solely keep their unique staking yields from their cross-chain property, however also can farm RAMP tokens and earn yields from quite a lot of different DeFi protocols utilizing their stablecoins — permitting customers to maximise the yield from their property.
RAMP has been round for lower than six months, however in that point it has managed to generate fairly the group and nonetheless has a comparatively low market cap at ~$30 million. However with the potential to unlock the worth of just about $1 trillion price of cryptocurrency property, we expect there’s loads of room for additional development.
Disclaimer: The knowledge offered right here doesn’t represent funding recommendation or a suggestion to speculate. The statements, views, and opinions expressed on this article are solely these of the creator/firm and don’t signify these of Bitcoinist. We strongly advise our readers to DYOR earlier than investing in any cryptocurrency, blockchain challenge, or ICO, significantly people who assure income. Moreover, Bitcoinist doesn’t assure or suggest that the cryptocurrencies or initiatives revealed are authorized in any particular reader’s location. It’s the reader’s accountability to know the legal guidelines concerning cryptocurrencies and ICOs in his or her nation.