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Rainbow Crypto Expo #8: COPYCAT, KYVE, GEL, NAOS
Hello! Welcome to your weekly not-to-be-missed potential moonshots!
🎉 Happy new year everyone!!! Hope you all had a great new year’s break!
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Last week we’ve covered ANKR, HNT, SSS, RNDR, and the market has seen yet another fall this week. Rainbow 6ix team wishes to remind you again that this article is only for sharing what we see of potential but not for the recommendation.
Let’s dive into this week’s Expo now!
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In this expo, we will also be focusing on 4 projects.
1. COPYCAT
COPYCAT aims to give users the opportunity to invest in the successful strategies of other trading masters from all over the world, making it easier for newbies to enter the world of crypto trading. Users can use filters to find strategies that suit their risk preferences. Investing funds to earn the profits of the strategy can also earn income. You can also apply as a trading master yourself and inspire others, letting them copy your strategies.
Currently, copy trading functions (multiple rewards for master traders/followers/all imitator teams) and liquidity mining have been launched. The future vision is to bridge the trading volume/signals from CEX and DEX. More functions including NFT projects will be added as well.
Category: DeFi Derivatives
Circulating supply: N/A
Market Cap: N/A
Current price: 0.1235 USD
Highest in history: 0.5478 USD
Lowest in history: 0.01447 USD
Market value ranking: 4992
2. KYVE
On-chain applications have storage requirements. In the foreseeable Web 3.0 era, these storage requirements will be converted from centralized server storage to decentralized storage. At present, it is difficult for developers to connect to decentralized storage such as Arweave. Kyve aims to build middleware to facilitate the developers of various public chains to store, call, and retrieve data in Arweave. All these processes do not need to be customized separately and are completely easy-to-use.
Kyve provides multiple storage pools. These pools are all DAOs constructed by the Arweave smart contract language SmartWeave. There are two main node roles in the pool: the node responsible for uploading data, and the node responsible for supervising the verification of the uploader node. Nodes in the pool need to stake KYVE tokens to obtain mining rewards. Ordinary users can also provide funds for the pool to obtain mining reward distribution.
Category: Storage Solution
Circulating supply: Pre-ICO
Market Cap: Pre-ICO
Current price: Pre-ICO
Highest in history: Pre-ICO
Lowest in history: Pre-ICO
Market value ranking: Pre-ICO
3. GEL
The smart contract/DAPP in Ethereum cannot be automatically operated natively. For example, the liquidation of MakerDAO will trigger liquidation when the value of the user’s position is lower than the threshold. This liquidation process is not carried out automatically through smart contracts, but the liquidator uses external bots to realize automatic liquidation.
In addition, there are many automation use cases that can be developed in DeFi. For ordinary users and developers, it is costly to buy or develop a bot with specific functions. Gelato aims to provide users and developers with a bot library that can be used at any time to realize all-weather smart contract automatic operation.
Category: DeFi Derivatives
Circulating supply: 9.77 million GEL (self-reported)
Market Cap: 22.05 million USD
Current price: 2.18 USD
Highest in history: 4.25 USD
Lowest in history: 0.9649 USD
Market value ranking: 3065
4. NAOS
NAOS Finance is a DeFi lending liquidity agreement. Its vision is to build a bridge between the real world and on-chain DeFi, bring real-world assets onto the chain, and create an interoperable lending market that allows companies/individuals in reality obtain loans in the DeFi market by staking real assets, taking into account the permissionless characteristics of DeFi and the low rate of real assets, in order to bridge the global credit gap of billions of dollars.
Category: DeFi
Circulating supply: 54.92 million NAOS (self-reported)
Market Cap: 23.6 million USD
Current price: 0.4299 USD
Highest in history: 3.45 USD
Lowest in history: 0.296 USD
Market value ranking: 3541
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That’s all we are going to cover this week!
See you next week!
Disclaimer:
This article is NOT in any form of investment guidance, please research carefully before you make any investment decisions. This article was written on January 4, 2022.
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