Calyx Token (CLX) is a new permissionless and community-run liquidity platform designed to enable multi-chain crypto trading and liquidity sourcing from various sources to facilitate trading and token swaps at the best possible rates. Its CalyxSwap feature will benefit three classes of users. Traders will benefit from fast token swaps in a single transaction at the best prices. Liquidity providers will earn a percentage of fees from the executed swaps by contributing the tokens to common liquidity pools. Token holders will stake tokens to be able to participate and vote on the agendas in the CalyxDAO while also earning lucrative rewards. These triple feature offerings ensure that everyone on the platform benefits from its generosity and every token holder is represented.
Calyx Token (CLX) plans to transform into a community-led model by integrating the CalyxDAO and providing members of the community with fair representation on decisions that are productive for the entire ecosystem, while also ensuring that the network stays stable and secure. This will be possible by staking the token which will enable users to vote on different proposals. This permissionless platform offers instant trade and liquidity aggregation, and is commerce ready.
Calyx Token (CLX) is currently in its presale phase selling at $0.0006, a 20% increase from its initial price. There is a maximum token supply of 1 trillion and unsold tokens will be burned and permanently removed from circulation. The platform currently supports Ethereum (ETH) but has plans to support other blockchain networks in the future like Polygon (MATIC), Binance Smart Chain (BSC), and Avalanche (AVAX), among others.
Introduced in 2015, Ethereum (ETH) is a blockchain network for decentralised apps (DApps) running on a Proof-of-Work (PoW) consensus mechanism. This consensus mechanism means that miners solve several difficult calculations to keep the blockchain up and running. The network is the second most popular cryptocurrency after Bitcoin (BTC) and it is also the second-largest as measured by market capitalisation.
Ethereum’s (ETH) blockchain network is highly congested, leading to expensive gas fees and a low transaction speed. However, developers are working on a solution to this issue. The protocol is working on an upgrade called Ethereum 2.0 which will transition the blockchain from a Proof-of-Work (PoW) to a Proof-of-Stake (PoS) consensus mechanism. This is expected to improve the transaction speeds to a projected 100,000 transactions per second (TPS) and subsequently reduce its fees. If this can be achieved, the token could very well lead the industry.
Solana (SOL) is currently the fastest blockchain in the crypto industry performing about 65,000 transactions per second (TPS). It is a decentralised blockchain built to enable scalable, user-friendly apps for the world. It is the fastest-growing ecosystem and has tons of projects in DeFi, Web 3.0, NFTs, and more. The platform has its own blockchain network and native currency, SOL, which is a utility token used to pay for transaction fees. This is a reason for Solana’s (SOL) popular adoption, as well as its low fees and high speeds as compared to other blockchain networks.
The crypto industry has come a long way but the journey has really only just begun. With the industry’s continuous growth and innovation, it is no surprise that there are more people interested in stepping into it. There are several projects in crypto, however, some platforms quickly set themselves apart with their offerings, benefits, and most importantly real-life practicalities. Like Solana (SOL) and Ethereum (ETH), Calyx Token (CLX) is doing this too.
For More Information On Calyx Token (CLX)
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.