It’s safe to say that decentralized finance, Non-Fungible Tokens (NFT), and cryptocurrency have become mainstream. Crypto and NFT discussions may be heard in most companies, bars, and schools. It’s a national phenomenon spanning from the United States to India, Turkey, and Nigeria.
The big hitters like Bitcoin (BTC) and Ethereum (ETH) dominate the crypto industry when it comes to market cap. Bitcoin is a standard-bearer, and the relative health of BTC reflects the overall health of crypto. Many Decentralized Finance (DeFi) protocols are included in the new generation of cryptocurrencies, and many experts think DeFi will play a significant role in the future of digital currency.
Some DeFi coins, such as Terra (LUNA) and Avalanche (AVAX), have already been shown to be profitable in this space and well established. FIREPIN Token (FRPN) is a new cryptocurrency in a presale stage that is also trying to make moves in the world of decentralized finance and cryptocurrency with goals of cross-chain compatibility and being a stable treasury for the future of Metaverse projects.
Decentralized Finance (DeFi)
Decentralized Finance, or DeFi, is a system that is built on secure distributed ledgers called the blockchain. It is a broad phrase that incorporates many different things, including numerous financial services based on blockchains, allowing it to be controlled by the many and not a few powerful entities. DeFi’s goal is essentially described by its name.
- DeFi tries to deprive banks and other financial institutions of their ubiquitous power and manipulation over money and instead gives power back to the individual.
- DeFi members may access practically all of the same services that traditional banks can, including trading, lending, borrowing, buying insurance, and earning income.
- DeFi does not require the same level of regulation as banks, preventing unnecessary bureaucracy.
- DeFi is peer-to-peer and available to anybody with an internet connection, so there is no long paperwork or third-party permission.
According to its white paper, Terra is a blockchain protocol capable of combining the stability and widespread use of fiat currencies with the speed and availability of cryptocurrencies.
To power its financial system, LUNA employs stable currencies linked to fiat money and stable assets. This benefits security and stability while yet wresting authority away from tyrannical financial behemoths.
LUNA defied the price collapses that afflicted crypto at the close of last year, rising to an all-time high on December 27th, 2021. It is currently available for $57.18.
Avalanche is the basis for future decentralized apps. Its designers say it has the quickest smart contract platform in the blockchain industry, with finality times as short as one second.
It offers the advantages of being low-cost and environmentally friendly, which go hand in hand with its speed. It also aspires to be one of the most secure blockchains without compromising scalability. As of January 14th, the price of AVAX is $90.03.
FIREPIN Token (FRPN)
Analysts believe that rivals such as LUNA and AVAX may further erode ETH’s present market dominance in the DeFi space. Both assets have risen to the top of the market capitalization rankings. At the time of writing, Terra is rated ninth, while Avalanche is placed twelfth.
FIREPIN Token (FRPN) is currently available in presale. Its debut is at a time when DeFi protocols have begun to regain traction, with all of the cryptocurrency having an all-time high of $236 billion total value locked (TVL) as of October 2021.
FIREPIN Token (FRPN) aims to be multi-chain, which should give it a leg up on its crypto competitors. It will first operate on the Binance Smart Chain (BSC) before expanding to other chains such as Ethereum (ETH), Avalanche (AVAX), Polygon (MATIC), and Solana (SOL).
The presale has a 15% allocation overall supply, while the team wallet and money for the bridge each have a 5% allocation.
This project seeks to be a community-driven DAO platform with METAVERSE integration. The intention is to create a Farming Utility and Staking Platform. The entire project is supported and reliable treasury with multi-chain connectivity for a superior user experience. Stability is important for a new crypto asset’s long-term existence, and with these advances, FIREPIN Token (FRPN) may show to be a significant player.
As has been shown often, participating in a presale may provide considerable rewards, and the FIREPIN Token presale seems to be one not to be missed.
Join Presale: https://presale.firepin.io/login