The crypto market is a very volatile one and the prices are almost always unpredictable. Over the past month, we have witnessed the industry plunged into a slump that it hasn’t yet come out of. However, with all these, there are crypto projects like Avalanche (AVAX), Chainlink (LINK), and Calyx Token (CLX) that are making the industry better with their innovative features and their decentralized nature is making investments and financial services more accessible and secure. They belong to the DeFi sector and with the sector’s total value locked (TVL) being over $239 billion as of April 2022, they might be worth noting.
Created by AVA Labs, Avalanche (AVAX) is a smart contract blockchain network that allows decentralized applications (DApps) on its platform. The platform uses three different blockchains to combat the current shortcomings of blockchain technology which are scalability, decentralization, and security. The C-Chain (Contract Chain) is where smart contracts are created and executed. The X-Chain (Exchange Chain) enables assets to be created and traded and the native coin, AVAX, is part of it. The P-Chain (Platform Chain) organizes validators and enables the creation of subnets. All these chains allow for different functions within the ecosystem.
Avalanche (AVAX) offers greater interoperability by creating smart contracts with Solidity and incorporating a number of decentralized finance (DeFi) ecosystems like Aave (AAVE) and Curve (CRV). To add to that the platform has a higher throughput than Ethereum (ETH) with over 6,500 transactions per second (TPS). The network’s objective is to develop a low-cost, scalable blockchain with high transaction speeds that manages to be secure, decentralized, and eco-friendly.
Chainlink (LINK) is a blockchain network that improves the capabilities of smart contracts by allowing them to access real-life data and off-chain information while maintaining the reliability and security that are expected from blockchain technology. It is ranked 26th on CoinMarketCap with a market cap of over $3 billion and a Total Value Locked (TVL) of over $64 billion.
Chainlink (LINK) is one of the cryptos that evaded the bear season of 2018 and increased in price and this was probably a result of its usefulness to the emerging DeFi sector. The platform is popular for its use by protocols like Maker and Compound and its partnership with Google Cloud.
Calyx Token (CLX)
Calyx Token (CLX) is a community-run, permissionless liquidity platform designed to allow the multi-chain crypto sourcing and trading of liquidity from various liquidity sources like decentralized exchanges (DEXs). It will also enable the trading and swapping of tokens at the best rates. The platform aims to become a community-driven model by integrating the CalyxDAO and giving its community members fair representation on proposals that are essential to the ecosystem’s growth while maintaining and securing the token.
Calyx Token (CLX) is permissionless and anyone can become a liquidity provider or create a pool by contributing an equivalent amount of underlying tokens in exchange for LP tokens. Also, with CalyxSwap tokens can be swapped immediately and users will have the swapped tokens immediately after the exchange.
The project is currently in the second stage of its presale phase and is selling at $0.0006 which is already a 20% increase from its starting price. Calyx Token (CLX) shows promise and it might make a great addition to an investor’s wallet.
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