DeFi is the latest buzzword in the world financial services ecosystem and catalyzes how investors approach personal finance. Based on blockchain technology, the key USP of DeFi protocols is the way they eliminate third-party institutions’ roles like brokerage firms or central banks. What follows is an investment mechanism where the investor has greater control over the wealth generation and returns process.
What sweetens the deal for DeFi assets like cryptocurrencies and non-fungible tokens is benefits like data privacy, community rewards, and secure trading experiences. The success of cryptocurrencies is paving the way for other DeFi models like meme coins that enable investors to take advantage of blockchain’s potential to drive impact in the field of personal finance.
If you are new to the cryptocurrency universe and are confused about where to start, an ideal strategy would be, begin with researching. You can look at cryptocurrency investment sites or other online resources to gather information about a few of the leading names, like Kittynomica (KIN), Shiba Inu (SHIB), and Near Protocol (NEAR). Once you have sufficient knowledge, you can make a more informed investment decision. To help you get started, here’s a look at some of the key features of the three coins.
Kittynomica: Where Memes Meet Metaverse
Kittynomica is a blockchain-based platform that allows its users to create content like memes in the metaverse. The memes created by users can also be minted as NFTs on the Kittynomica marketplace. Users can then sell, purchase and swap these memes as NFTs.
Kittynomica has rolled out a native token, KIN, that can be used for all transactional purposes on the platform, like staking, earning rewards, voting for proposals, renting land, paying rent and other charges, and even advertising.
Kittynomica community members can meet and network with each other to create memes, sell them and share the KIN Tokens they earn as rewards for their participation. The platform will charge a 0.5% fee on all transactions processed in terms of KIN Tokens. These transactions would include the sale and purchase of memes, NFT transactions, advertising fees, and token swapping.
The total supply of the token is capped at 1,000,000,000 units. Of this, 30% will be set aside for presale. In comparison, the remaining tokens will be divided into different categories like reserve (30%), launchpad sale (17%), for founders and team members (13%), strategic sales ((9%), and advisors (6%). Users should also know that the tokens bought by them will have a vesting period of two months. Moreover, the token will be compatible with multiple blockchain networks and Ethereum-friendly virtual machines.
Built on the Binance Smart Chain, the meme coin’s governance structure is based on the decentralized autonomous organizations model wherein users are encouraged to contribute to the platform’s development. Under the system, a platform takes into account the views of all stakeholders through voting rights. KIN Token holders get exclusive voting rights that can be used for voting for executive decisions on matters like partnerships, liquidity pool acquisition, and product launches.
Shiba Inu Shares More Details About Its Metaverse Project
Shiba Inu is among the earliest meme coins to have been introduced worldwide and continues to enjoy investors’ patronage worldwide, thanks to its promising returns. It also has a native crypto SHIB that can be used for token swapping, staking, earning rewards, and other similar transactional use cases.
In a recent announcement, Shiba Inu unveiled its latest project, which is the concept of the upcoming SHIB – the Metaverse WAGMI Temple. The acronym ‘WAGMI’ means “we’re all gonna make it.” According to a blog post shared by the meme coin, the WAGMI Temple will bring users a “zen-like” realm where they can meditate, enjoy natural beauty, feel sensations, and strike spiritual connections with the world. Sharing images of the temple, Shiba Inu claimed that the initiative aimed to convey the WAGMI Temple’s role in the meme coin’s foray into the metaverse.
NEAR Protocol Invites Applications for MetaBUILD III
NEAR Protocol is an Ethereum-friendly scaling solution for decentralized systems and dApps. Built on the proof-of-stake consensus protocol, the blockchain network is carbon-neutral. It also has a native token, NEAR, that comes in handy while dealing with transactional purposes like token swapping, staking, and making payments on the platform.
Recently, NEAR Protocol announced its hackathon MetaBUILD III which it will be hosting on its networks. Participants stand to win prizes worth $1 million and will be working on delivering WEB 3.0 solutions to empower the future of the internet while tackling certain challenges. The registration window for the eight-week hackathon closes on September 23.
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