As a crypto trader, you need to be conscious of your trading choices to minimise your exposure to losses. However, it’s important to note that certain crypto tokens have a potential to offer more benefits than others. This piece will look at why crypto traders should consider buying Solana (SOL), Aave (AAVE), and HypaSwap (HYPA).
Community Sourcing Solana (SOL)
Solana is a blockchain platform designed to host decentralized applications and projects. It’s interesting to note that Solana has been in the cryptocurrency market for a relatively long period. This cryptocurrency project was founded in 2017 by the Solana Foundation in Geneva. This open-source project will allow users to contribute to the code of the blockchain easily and use the blockchain code for other similar projects. Solana is a new blockchain that’s designed to offer users innovative benefits. Because the blockchain is designed, users can use the platform to process transactions at lightning-fast speeds and lower transaction fees.
SOL is the cryptocurrency that powers this blockchain. In 2021, Solana peaked at a market capitalization of $66 billion. During this period, the cryptocurrency became the fifth-largest crypto token in the cryptocurrency market. This project stands out from other alternatives in the cryptocurrency market because it relies on a proof-of-history mechanism. In the whitepaper of the cryptocurrency token, Solana founder described how this mechanism works. The proof-of-history concept is going to hellp you verify the passage of time events on the blockchain. It will also be used to encode trustless passage of time into a ledger.
Access For All – Aave (AAVE)
Aave is an innovative cryptocurrency project that’s designed to offer users unique benefits powered by the blockchain. While other projects are interested in creating a market place for the swapping of crypto tokens, Aave is only interested in offering users access to cryptocurrency funds. This platform supports borrowing and lending while cutting out all the middlement involved in the process. Also, Aave will introduce other innovative features, such as instant loans and other ways of issuing debit and credit.
Aave runs on the Ethereum blockchain. As a result, it’s able to use smart contracts and a distributed network of computers to manage resources shared between users. At its core, Aave has a lending pool that offers users different cryptocurrency assets. There are up to 17 different cryptocurrency assets in Aave’s liquidity pool, including ETH, MANA and BAT. Aave states that users should post some collateral on the platform before they will be allowed to borrow. Also, users will not be allowed to borrow more than they have contributed to the platform. Borrowers will receive their funds in the form of a derivative token that’s pegged to another asset. However, users are allowed to deposit in one cryptocurrency and withdraw in another one.
All Aboard The Hype Train – HypaSwap (HYPA)
HypaSwap is another innovative cryptocurrency project that introduces users to the benefits of decentralized finance. This platform aims to restore power back to the hands of crypto users by offering them access to finance services, like a traditional bank. Unlike other blockchain-based projects that fail to pay attention to their security architecture, HypaSwap focuses on the security of its platform. The developers of HypaSwap are concerned about providing DeFi services to different parts of the world, and they are prepared to take all the necessary steps to make it happen.
The developers of this token are continuously focused on improving the platform. As a result, they have plans to make a DAO out of this platform. By doing this, they put power back into the hands of members of the crypto community. A DAO system will ensure that users constantly vote on policy updates and development decisions. You’ll be thrilled to find out that HypaSwap keeps a close look on its competitors. They use this information to improve their own performance. HYPA is the native token of this platform, and will be used in governance decisions.
*This article has been paid. The Cryptonomist didn’t write the article nor has tested the platform