Japan, Japan, Thu, 31 Mar 2022 23:37:39 / Comserve Inc. / — With the rapid growth of the DeFi industry over the last two years, more and more resources that would help increase the influence of DeFi is becoming a part of our daily life.
The decentralisation of the likes of Ethereum (ETH) and Polkadot (DOT) has proved popular with those in the crypto space and the Calyx Network (CLX) has aims to fully embrace DeFi in its purest form.
Calyx Network (CLX) enters its presale
Described as a “community-driven and permissionless liquidity protocol, being designed and developed to allow the multi-chain crypto trading and sourcing of liquidity from various liquidity sources to foster trading and token swaps at best prices” in its litepaper, Calyx Network aims to make crypto transactions as seamless as possible.
The creation of CalyxSwap will allow users to switch between tokens in just one transaction at cost-effective prices rather than having to purchase tokens due to not having access to either the native token of a network or a dApp (decentralised application).
Users attempting to participate in the token exchange process will not need to create an account or register on the Calyx Network, adding to the unrestricted process of token swapping that the network is offering.
A percentage of the executed swaps could be earned by users of the network by contributing the tokens to common liquidity pools.
With CLX acting as the governance token of the network, holders will be privy to a variety of rewards such as staking rewards, liquidity incentives and the opportunity to participate in the governance procedure via CalyxDAO.
Ethereum (ETH) is a crypto magnet
As the second-biggest cryptocurrency in the world with a market cap of over $377 billion, according to data from CoinMarketCap, Ethereum (ETH) is a bona fide powerhouse in the crypto space.
The Ethereum platform supports both decentralised applications and smart contracts as well as being home to its native ETH token, also known as Ether.
While Ethereum has been lauded for its blockchain technology, its proof-of-work (PoW) system has been consistently criticised which has seen Ethereum aim to move towards a proof-of-stake (PoS) consensus mechanism.
Its impending upgrade to Ethereum 2.0 will see the network rival
the blockchains that have been labelled “Ethereum killers”, including the likes of Avalanche (AVAX), Solana (SOL), and Cardano (ADA).
Up 18.9% in the past 30 days, ETH is trading at $3,145.34, at this time of writing and is 35% down from its all-time high of $4,878.26, a figure that was reached in November 2021.
The decentralisation of Polkadot (DOT)
Polkadot (DOT) is a protocol that enables cross-blockchain transfers of tokens as well as any other type of data.
The protocol is attempting to achieve a heterogeneous cross-chain framework and one that is garnered the attention of many in the crypto industry for its potential.
Despite the project being founded in 2016, it wasn’t until 2020 that the DOT token was listed on the crypto market, and it hasn’t looked back since.
Polkadot is ranked as the 11th biggest cryptocurrency in the world with a market cap of over $20 billion, according to data from CoinMarketCap.
DOT is up 26.4% in the past 30 days and is currently trading at $20.96.
Find Out More:
https://presale.calyx.network/
https://t.me/CALYX_NETWORK_OFFICIAL
https://twitter.com/CalyxNetwork
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