Decentralization and the ability to execute programs without relying on centralized organizations are two concepts driving blockchain technology. Mostly in the traditional world, numerous operations are managed by central authorities. Some digital pictures and shows are controlled by large firms or platforms such as Netflix, while a few businesses dominate FMCG.
Finance faces identical issues because it relies heavily on central authorities such as government agencies and certain other financial companies. In the traditional world, services are governed by major rules; from the crypto ecosystem, they are largely controlled by dApps. Decentralized banking platforms use dApps to provide their services.
What exactly is DeFi?
Decentralized Finance is represented by the words "DeFi," which also describes "Decentralized," and "Fi," which means "Finance." Decentralized indicates that no mediator central authorities, like brokers, institutions, or marketplaces, are required. Defi development services employs smart contracts using blockchain technologies rather than conventional financial products provided by major banks.
What is the size of the DeFi market?
By October 2020, there was already a rise in the amount of money placed into several decentralized finance protocols, reaching over $11 billion (in cryptocurrencies). And since January 2021, nearly $20.5 billion was already invested DeFi.
What categories of DeFi applications are most common?
DEXs: Decentralized exchanges allow users to exchange one currency with another as BTC to USD or Ether (ETH). DEXs are a widely used marketplace that will enable users to connect straight, allowing them to exchange cryptocurrencies without transferring the cash to a third party.
Stablecoins: A cryptocurrency that, in terms of maintaining price stability, is connected to a non-cryptocurrency currency (such as USD, GBP, etc.).
Lending platforms: Such platforms use smart contracts to minimize the dependence on mediators, including such institutions, to handle lending.
"Wrapped" bitcoins (WBTC): A technique of transmitting bitcoin to such Ethereum network in exchange that it could be used straight in Ethereum's DeFi function. WBTCs permit consumers to earn a return on bitcoin loans made inside the described decentralized lending systems.
Prediction Markets: Markets in which individuals can bet mostly on the outcome of future developments like as exit polls, financial markets, sports scores, and so on. Defi development services aim to deliver similar functions as conventional prediction markets while eliminating the requirement for intermediaries.
Glossary of DeFi
As DeFi apps gained popularity, various additional terms were introduced to a crypto glossary. These include:
Pools: Liquidity pools, which are collections of tokens locked inside smart contracts, let investors earn returns on their investments while promoting effective asset transactions. To put it simply:
When you transmit an approximate value for every token to this pool, you receive LP tokens showing your investment (%) inside that pool. Whenever users add assets to the pool, those LP tokens are developed for you, and even when users withdraw funds, these are burnt. Thus, the number of LP tokens users hold constantly matches the stake/percentage ownership in the pool. The only concern in this is unexpected loss. You do, although, get half of all transaction fees.
The USDC-ETH pool held $250 million until January 2021. WBTC-ETH and ETH-USDT are some more important pools.
Farming: A few DeFi apps, such as PancakeSwap, include "farms" in which traders may combine cryptos and then stake those in pairs on "farms" to earn "harvest" regularly. Farming requires collecting LP tokens and putting those on such a "farm."
In other words, stakes on LP farms are similar to smart contracts that let the farm keep your tokens. LP tokens are typically exchanged for a different token trying to gain traction in exchange for the "farm" housing your tokens.
Yield farming: For professional traders willing to take big risks, yield farming is now a way to sort beyond a large number of DeFi tokens in anticipation of higher-return opportunities.
Liquidity farming: It occurs when Defi development services applications recruit customers to the system by adding them with free tokens. So far, it was the best method of yield farming.
Composability: Open source apps, such as DeFi, allow anyone to examine the code they run. New apps can be created using the code from these apps as building blocks.
What exactly are DeFi Exchanges?
DeFi exchange will be a subset of the DeFi application. DeFi employs a modular structure and extremely composable construction components. Many DeFi initiatives offer high rates of interest. Moreover, they are frequently fraught with danger.
How Does a DeFi Exchange Work?
Custodial wallets are typically not available on DeFi exchanges. Users instead connect to those same platforms using a Web3-supported browser extension or program like MetaMask, Coinbase Wallet, etc. After securing the wallet to the site, you may quickly begin trading cryptos using the simple, feature-rich interface design available among most Defi development services exchanges.
What are the advantages of utilizing DeFi exchanges?
DeFi platforms' simple and easy designs help users trade or receive payments from those who trade cryptocurrencies and use liquidity pools with no difficulty.
KYC processes can be time-consuming and labor-intensive, but there isn't a requirement for KYC when you use the DeFi platform in crypto trading because wallet linking is conducted through non-custodial wallet connections like Coinbase and MetaMask Wallet.
DeFi solutions offer secured crypto trading by requiring people to use non-custodial wallets.
Transactions are processed quickly and at a cheap cost. Adopting Defi development services platforms to exchange crypto eliminates the requirement that you wait for money transfers or pay bank charges.
What are the disadvantages of utilizing DeFi exchanges?
Code defects and breaches are prevalent, and because blockchain transactions are uncontrollable, a bad DeFi payment or smart-contract code release with flaws may not always be easily changed. Yam Finance, a company founded in 2020, quickly grew its savings to $750 million until collapsing owing to a technological problem a few days ago.
A smart contract technology that powers DeFi platforms is often open-source software that must be easily replaced to create competitive platforms, resulting in instability as a transfer of money from platform to platform.
However, the goal needs to decentralize Finance, and there is continuing concern that the person or company next to a DeFi protocol will be unidentified and vanish with its investors' assets.
Undertrained investors are exposed to a greater chance of losing their funds due to such skill necessary to connect with Defi development services platforms, so the absence of a mediator, including a user-support office.
The best performed 10 DeFi exchanges:
The top 10 crypto exchanges made our shortlist. Here are the top 10 DeFi exchanges we have selected in this list:
1. Binance
2. Coinbase
3. FTX
4. KuCoin
5. Gate.io
6. Kraken
7. Huobi Global
8. Bitfinex
9. Gemini
10. Pancakeswap
Decentralization and the ability to execute programs without relying on centralized organizations are two concepts driving blockchain technology. Mostly in the traditional world, numerous operations are managed by central authorities. Some digital pictures and shows are controlled by large firms or platforms such as Netflix, while a few businesses dominate FMCG.
Finance faces identical issues because it relies heavily on central authorities such as government agencies and certain other financial companies. In the traditional world, services are governed by major rules; from the crypto ecosystem, they are largely controlled by dApps. Decentralized banking platforms use dApps to provide their services.
What exactly is DeFi?
Decentralized Finance is represented by the words "DeFi," which also describes "Decentralized," and "Fi," which means "Finance." Decentralized indicates that no mediator central authorities, like brokers, institutions, or marketplaces, are required. Defi development services employs smart contracts using blockchain technologies rather than conventional financial products provided by major banks.
What is the size of the DeFi market?
By October 2020, there was already a rise in the amount of money placed into several decentralized finance protocols, reaching over $11 billion (in cryptocurrencies). And since January 2021, nearly $20.5 billion was already invested DeFi.
What categories of DeFi applications are most common?
DEXs: Decentralized exchanges allow users to exchange one currency with another as BTC to USD or Ether (ETH). DEXs are a widely used marketplace that will enable users to connect straight, allowing them to exchange cryptocurrencies without transferring the cash to a third party.
Stablecoins: A cryptocurrency that, in terms of maintaining price stability, is connected to a non-cryptocurrency currency (such as USD, GBP, etc.).
Lending platforms: Such platforms use smart contracts to minimize the dependence on mediators, including such institutions, to handle lending.
"Wrapped" bitcoins (WBTC): A technique of transmitting bitcoin to such Ethereum network in exchange that it could be used straight in Ethereum's DeFi function. WBTCs permit consumers to earn a return on bitcoin loans made inside the described decentralized lending systems.
Prediction Markets: Markets in which individuals can bet mostly on the outcome of future developments like as exit polls, financial markets, sports scores, and so on. Defi development services aim to deliver similar functions as conventional prediction markets while eliminating the requirement for intermediaries.
Glossary of DeFi
As DeFi apps gained popularity, various additional terms were introduced to a crypto glossary. These include:
Pools: Liquidity pools, which are collections of tokens locked inside smart contracts, let investors earn returns on their investments while promoting effective asset transactions. To put it simply:
When you transmit an approximate value for every token to this pool, you receive LP tokens showing your investment (%) inside that pool. Whenever users add assets to the pool, those LP tokens are developed for you, and even when users withdraw funds, these are burnt. Thus, the number of LP tokens users hold constantly matches the stake/percentage ownership in the pool. The only concern in this is unexpected loss. You do, although, get half of all transaction fees.
The USDC-ETH pool held $250 million until January 2021. WBTC-ETH and ETH-USDT are some more important pools.
Farming: A few DeFi apps, such as PancakeSwap, include "farms" in which traders may combine cryptos and then stake those in pairs on "farms" to earn "harvest" regularly. Farming requires collecting LP tokens and putting those on such a "farm."
In other words, stakes on LP farms are similar to smart contracts that let the farm keep your tokens. LP tokens are typically exchanged for a different token trying to gain traction in exchange for the "farm" housing your tokens.
Yield farming: For professional traders willing to take big risks, yield farming is now a way to sort beyond a large number of DeFi tokens in anticipation of higher-return opportunities.
Liquidity farming: It occurs when Defi development services applications recruit customers to the system by adding them with free tokens. So far, it was the best method of yield farming.
Composability: Open source apps, such as DeFi, allow anyone to examine the code they run. New apps can be created using the code from these apps as building blocks.
What exactly are DeFi Exchanges?
DeFi exchange will be a subset of the DeFi application. DeFi employs a modular structure and extremely composable construction components. Many DeFi initiatives offer high rates of interest. Moreover, they are frequently fraught with danger.
How Does a DeFi Exchange Work?
Custodial wallets are typically not available on DeFi exchanges. Users instead connect to those same platforms using a Web3-supported browser extension or program like MetaMask, Coinbase Wallet, etc. After securing the wallet to the site, you may quickly begin trading cryptos using the simple, feature-rich interface design available among most Defi development services exchanges.
What are the advantages of utilizing DeFi exchanges?
DeFi platforms' simple and easy designs help users trade or receive payments from those who trade cryptocurrencies and use liquidity pools with no difficulty.
KYC processes can be time-consuming and labor-intensive, but there isn't a requirement for KYC when you use the DeFi platform in crypto trading because wallet linking is conducted through non-custodial wallet connections like Coinbase and MetaMask Wallet.
DeFi solutions offer secured crypto trading by requiring people to use non-custodial wallets.
Transactions are processed quickly and at a cheap cost. Adopting Defi development services platforms to exchange crypto eliminates the requirement that you wait for money transfers or pay bank charges.
What are the disadvantages of utilizing DeFi exchanges?
Code defects and breaches are prevalent, and because blockchain transactions are uncontrollable, a bad DeFi payment or smart-contract code release with flaws may not always be easily changed. Yam Finance, a company founded in 2020, quickly grew its savings to $750 million until collapsing owing to a technological problem a few days ago.
A smart contract technology that powers DeFi platforms is often open-source software that must be easily replaced to create competitive platforms, resulting in instability as a transfer of money from platform to platform.
However, the goal needs to decentralize Finance, and there is continuing concern that the person or company next to a DeFi protocol will be unidentified and vanish with its investors' assets.
Undertrained investors are exposed to a greater chance of losing their funds due to such skill necessary to connect with Defi development services platforms, so the absence of a mediator, including a user-support office.
The best performed 10 DeFi exchanges:
The top 10 crypto exchanges made our shortlist. Here are the top 10 DeFi exchanges we have selected in this list:
1. Binance
2. Coinbase
3. FTX
4. KuCoin
5. Gate.io
6. Kraken
7. Huobi Global
8. Bitfinex
9. Gemini
10. Pancakeswap
Decentralization and the ability to execute programs without relying on centralized organizations are two concepts driving blockchain technology. Mostly in the traditional world, numerous operations are managed by central authorities. Some digital pictures and shows are controlled by large firms or platforms such as Netflix, while a few businesses dominate FMCG.
Finance faces identical issues because it relies heavily on central authorities such as government agencies and certain other financial companies. In the traditional world, services are governed by major rules; from the crypto ecosystem, they are largely controlled by dApps. Decentralized banking platforms use dApps to provide their services.
What exactly is DeFi?
Decentralized Finance is represented by the words "DeFi," which also describes "Decentralized," and "Fi," which means "Finance." Decentralized indicates that no mediator central authorities, like brokers, institutions, or marketplaces, are required. Defi development services employs smart contracts using blockchain technologies rather than conventional financial products provided by major banks.
What is the size of the DeFi market?
By October 2020, there was already a rise in the amount of money placed into several decentralized finance protocols, reaching over $11 billion (in cryptocurrencies). And since January 2021, nearly $20.5 billion was already invested DeFi.
What categories of DeFi applications are most common?
DEXs: Decentralized exchanges allow users to exchange one currency with another as BTC to USD or Ether (ETH). DEXs are a widely used marketplace that will enable users to connect straight, allowing them to exchange cryptocurrencies without transferring the cash to a third party.
Stablecoins: A cryptocurrency that, in terms of maintaining price stability, is connected to a non-cryptocurrency currency (such as USD, GBP, etc.).
Lending platforms: Such platforms use smart contracts to minimize the dependence on mediators, including such institutions, to handle lending.
"Wrapped" bitcoins (WBTC): A technique of transmitting bitcoin to such Ethereum network in exchange that it could be used straight in Ethereum's DeFi function. WBTCs permit consumers to earn a return on bitcoin loans made inside the described decentralized lending systems.
Prediction Markets: Markets in which individuals can bet mostly on the outcome of future developments like as exit polls, financial markets, sports scores, and so on. Defi development services aim to deliver similar functions as conventional prediction markets while eliminating the requirement for intermediaries.
Glossary of DeFi
As DeFi apps gained popularity, various additional terms were introduced to a crypto glossary. These include:
Pools: Liquidity pools, which are collections of tokens locked inside smart contracts, let investors earn returns on their investments while promoting effective asset transactions. To put it simply:
When you transmit an approximate value for every token to this pool, you receive LP tokens showing your investment (%) inside that pool. Whenever users add assets to the pool, those LP tokens are developed for you, and even when users withdraw funds, these are burnt. Thus, the number of LP tokens users hold constantly matches the stake/percentage ownership in the pool. The only concern in this is unexpected loss. You do, although, get half of all transaction fees.
The USDC-ETH pool held $250 million until January 2021. WBTC-ETH and ETH-USDT are some more important pools.
Farming: A few DeFi apps, such as PancakeSwap, include "farms" in which traders may combine cryptos and then stake those in pairs on "farms" to earn "harvest" regularly. Farming requires collecting LP tokens and putting those on such a "farm."
In other words, stakes on LP farms are similar to smart contracts that let the farm keep your tokens. LP tokens are typically exchanged for a different token trying to gain traction in exchange for the "farm" housing your tokens.
Yield farming: For professional traders willing to take big risks, yield farming is now a way to sort beyond a large number of DeFi tokens in anticipation of higher-return opportunities.
Liquidity farming: It occurs when Defi development services applications recruit customers to the system by adding them with free tokens. So far, it was the best method of yield farming.
Composability: Open source apps, such as DeFi, allow anyone to examine the code they run. New apps can be created using the code from these apps as building blocks.
What exactly are DeFi Exchanges?
DeFi exchange will be a subset of the DeFi application. DeFi employs a modular structure and extremely composable construction components. Many DeFi initiatives offer high rates of interest. Moreover, they are frequently fraught with danger.
How Does a DeFi Exchange Work?
Custodial wallets are typically not available on DeFi exchanges. Users instead connect to those same platforms using a Web3-supported browser extension or program like MetaMask, Coinbase Wallet, etc. After securing the wallet to the site, you may quickly begin trading cryptos using the simple, feature-rich interface design available among most Defi development services exchanges.
What are the advantages of utilizing DeFi exchanges?
DeFi platforms' simple and easy designs help users trade or receive payments from those who trade cryptocurrencies and use liquidity pools with no difficulty.
KYC processes can be time-consuming and labor-intensive, but there isn't a requirement for KYC when you use the DeFi platform in crypto trading because wallet linking is conducted through non-custodial wallet connections like Coinbase and MetaMask Wallet.
DeFi solutions offer secured crypto trading by requiring people to use non-custodial wallets.
Transactions are processed quickly and at a cheap cost. Adopting Defi development services platforms to exchange crypto eliminates the requirement that you wait for money transfers or pay bank charges.
What are the disadvantages of utilizing DeFi exchanges?
Code defects and breaches are prevalent, and because blockchain transactions are uncontrollable, a bad DeFi payment or smart-contract code release with flaws may not always be easily changed. Yam Finance, a company founded in 2020, quickly grew its savings to $750 million until collapsing owing to a technological problem a few days ago.
A smart contract technology that powers DeFi platforms is often open-source software that must be easily replaced to create competitive platforms, resulting in instability as a transfer of money from platform to platform.
However, the goal needs to decentralize Finance, and there is continuing concern that the person or company next to a DeFi protocol will be unidentified and vanish with its investors' assets.
Undertrained investors are exposed to a greater chance of losing their funds due to such skill necessary to connect with Defi development services platforms, so the absence of a mediator, including a user-support office.
The best performed 10 DeFi exchanges:
The top 10 crypto exchanges made our shortlist. Here are the top 10 DeFi exchanges we have selected in this list:
1. Binance
2. Coinbase
3. FTX
4. KuCoin
5. Gate.io
6. Kraken
7. Huobi Global
8. Bitfinex
9. Gemini
10. Pancakeswap
Entertainment is often deemed as a source of expenditure. But having a source of entertainment that ensures a passive return with a high yield rate seems implausible. ChocoDoge is an excellent platform for people to delve into high-profit earning entertainment activities.
CHOCODOGE is an algorithmic stablecoin created for DOGECHAIN, Inspired by Tomb, Frax, and other stablecoins that existed before, its purpose is to become a stable coin that will efficiently peg to $1.
However, this is only the tip of the proverbial iceberg. In addition to this, it provides Defi items that come with enticing profit margins, which ensures the long-term viability of the project as well as the safety of our investors' finances. It implements a system that can automatically increase and regulate the token supply to match the current needs, all while maintaining a relatively stable value for the ecosystem's universal payment method, which allows them to concentrate on expanding and innovating the project. This allows them to focus on growing the project.
How the system will work
"Expansion": A percentage of the total USCD supply is minted. The minted USCD is given to users who staked their CD tokens depending on how many CD they staked.
- "Contraction": USCD minting is stopped. Instead, USBD tokens (bonds) are available for sale. Users can buy USBD with USCD. For 1 USBD bought, 1 USBD is automatically burnt. The Tax will also be significantly higher during this time.
- USBD tokens can’t be redeemed (convert to USCD) when TWAP (Time Weighted Average Price) of USCD is under $1, but they can be whenever TWAP of 50C goes back over $1. This is a premium mechanism incentivizing users to buy bonds and helping the price to get back above its peg.
What are the types of tokens used?USCD - ChocoDoge Cash:
The purpose of the currency token USCD is to function as a medium of exchange. The protocol has a built-in stability mechanism that strives to maintain the USCD peg at 1 USDC throughout time. This mechanism is an implementation of the successful approaches of prior algorithmic tokens.
As the ecosystem continues to grow with the introduction of additional games and apps, USCD may also be used to make purchases more easily inside those games and applications.
CD - ChocoDoge Share:
ChocoDoge Shares are one way to figure out how much the ChocoDoge Protocol is worth and how confident investors are that it will keep USCD close to its peg (CD).
Whenever an epoch grows, the protocol makes USCD and gives it out proportionally to all CD holders who have put their tokens in the BANK (boardroom).
Also, HODLers can pair their CD up as LP and farm for an extra CD.
Later on, when community voting is enabled, CD will become the governance token of the CHOCODOGE.
USBD - ChocoDoge Bond:
The major purpose of ChocoDoge Bonds (USBD) is to stimulate modifications in USCD supply during an epoch contraction phase. This is done when the epoch is under contraction. When the TWAP (Time Weighted Average Price) of USCD falls below 1 USDC, USBDs are generated and may be bought with USCD at the current rate. USBD can only be purchased with USCD. When USCD tokens are exchanged for USBD, the price of one USDC goes up since this action causes deflation by removing tokens from circulation.
These USBDs may be traded for USCD at a later time when the price is higher than the peg, and there will be an added incentive for them to remain higher than the peg for extended periods of time. When the USDC rate is higher than the peg, this results in price inflation and increased selling pressure, both of which work to bring it closer to the 1 USDC level.
How are tokens allocated?ChocoDoge Cash – USCD
The maximum supply is uncapped and is generated using the Seigniorage Model.
Genesis Pools (The first 2 weeks)
As a prize, a total of 100,100 USCD tokens will be dispersed among the following pools:
USCD/WDOGE (x77): 77,000 USCD
DOGECHAIN (x7): 7,700 USCD
WWDOGE (x7): 7,700 USCD
USDC (x7): 7,700 USCD
There is no lock period for claiming 35% of the USCD token awards if they are claimed during the first two weeks. 16.25% of the awards that are still unclaimed will be distributed every 10 days (4 releases in total).
The start time for WWDOGE, DC, and USDC is 12:00 GMT on September 5, 2022, and for USCD/WWDOGE on September 6, 2022, at 00:00 GMT.
After the Genesis pools stage, the only entity that is permitted to mint USCD is the BANK.
Beside, at the time of lauching, September 10th, users may stake their USCD in order to earn USDC.
ChocoDoge Share – CD
Maximum quantity available: 200,000 CD.
The following pools will have their awards distributed as follows:
USCD/USDC: 19,500 CD for the first weeks, with a 15% decline in value per week for 104 weeks for a total of 104 weeks.CD/USDC: 10,500 CD for the first weeks, with a 15% decline per week for the next 104 weeks for a total of 104 weeks.
There is no lock period for claiming 35% of the CD token incentives if they are claimed during the first three weeks. The remaining awards will be distributed at a rate of 16.25 percent every thirty days (4 releases in total).
After a period of three weeks, all CD token awards are available to be redeemed.
Time of beginning:
USCD/USDC: 00:00 GMT on September 8, 2022.
CD/USDC: September 9, 00:00 GMT, 2022
How does the BANK work each epoch?
HODLers of CD may stake their CD tokens here in order to earn USCD at the end of each epoch (provided that the $USCD TWAP value is greater than $1 USDC). Whenever there is an expansion, newly minted USCDs will be sent to the BANK to be used as rewards and to the Hedge Fund to be used as operational funding for the project.
The duration of an epoch is four hours. If you take any action, your CD withdrawals will be locked for 12 epochs, and your USDC reward claims will be locked for 6 epochs.
NewsCrypto.io is pleased to announce the Holder Rewards Event in appreciation of NWC holders and the community, following the token’s new listing on HitBTC exchange.
Exchange listing of the NWC token began in the fourth quarter of 2019, and the token is now listed on its 6th exchange. This would not have been possible without the NWC token holders and the entire community. As such, Newscrypto is hosting the Holders Reward event and the airdrop campaign as a way of giving back to their loyal supporters.
To participate click here.
Holder Rewards Event Details
Newscrypto.io will run the event for ten months. During this time, NWC holders will receive some reward simply for holding an NWC token. To participate in the event, investors must hold a minimum of 5000 NWC tokens. Newscrypto.io will issue the rewards as follows:
Holder event will last for 10 months, during this time you can earn rewards in exchange for holding a NWC token.
As Bitcoin and the aggregated cryptocurrency market face dire selling pressure, major altcoins like Ethereum (ETH) have been caught within firm downtrends that have cut significantly into the recent gains they incurred throughout the course of their intense 2020 uptrends.
Analysts are now noting that ETH is positioned to see significantly further losses in the near-term, which could lead the crypto to plummet as low as $180 in the days ahead.
In spite of a weak technical situation, one interesting occurrence seen while looking towards the spread between DAI and USDC may suggest that now is a “decent re-entry level” for ETH.
Ethereum Sees Dire Technical Weakness as Market Continues Descending
At the time of writing, Ethereum is trading down just over 2% at its current price of $219, which marks a slight decline from daily highs of just over $225.
The cryptocurrency’s downtrend first began exactly one week ago, when the crypto rallied up to highs of $275 before plummeting to lows of $210. In the time since this capitulatory selloff, the crypto has been trading sideways around its current price levels, struggling to garner any decisive trend.
Sudan Gold Coin with the token name SGC Token is among few Cryptocurrency which is backed by real physical resources. It is a unique blend of Real Gold Mining and Blockchain Technology. SGC Token aims to solve the uncertainty problem currently faced on the cryptocurrency market.
Gold has been one of the most valuable things in the world since ancient times: it was a standard for price determination, references to gold can be found all over the world in popular wisdom thoughts and quotations. This means that gold will always be one of the world economy's value benchmarks, and many physical currencies rely somewhat on gold.
But in the IT age, where people try to invent something different every day, new concept cryptocurrencies are introduced onto the market. They allowed people to buy, sell and trade with reduced risks through the internet but there is still one big problem that should be solved: stability and predictability of any cryptocurrency.
Sudan Gold Coin is the world's first blockchain alternative, where the coin's value is tied to the gold market price. The total amount of tokens that will be issued without further releases is 999,999,999 tokens. At the pre-sale stage, one token's price will be $0.1 USD, depending on that, the price at Main Sale will be 0.75–$1 USD. investor becomes the owner of a certain amount of gold after buying tokens, which they will be able to operate within a decentralized exchanger, based on a Blockchain Technology.
In the cryptocurrency marketplace, SGC is a pioneering coin whose value is backed by actual strength. This is a brand new age of e-commerce and the value of a fully virtual advantage is rigidly tied to Real Gold's burden.
SGC is launching the IEO on coming 26th Feb 2020 on a reputed Korean Exchange ChainX, you can buy the tokens directly from the exchange here - https://chainx.kr/.
Crowd sale
Crowd Sale will be having different stages of sales. The SGC project closed its Pre-Sale with a cap of US$ 250,000. For now, the project is in the stage of Private Sale, plans are under way for the main Sale.
Tokens are called Sudan Gold coins-SGC tokens, and are made specifically for this project's use. In total there are 999,999,999 SGC tokens in circulation. Price for one SGC token is expected to be 0.75 dollars.
Crowd sale is one way to earn tokens but there's so much more. Working on marketing campaigns like social media campaigns, different translations, and signature campaigns will earn you tokens.
If you are anxious to find out more about the project and what it is about, take a look at the following for details:
Conventional cryptocurrencies have had a fair share of criticism, such as Bitcoin. Their main drawbacks include lack of physical support and reliance on peer-to-peer device transfers. Since no one can see the money, the legitimacy of cryptocurrencies has long been in doubt by critics. The asset-backed cryptocurrencies idea originated as a solution.
If it's your first time learning about asset-backed cryptocurrencies, there are digital currencies that are linked to the value of physical assets like real estate, oil, energy, minerals and even precious metals like gold.
What are gold-backed cryptocurrencies?
Gold-backed cryptocurrencies are digital currencies tied to gold. It means that while the crypto coins are on a distributed ledger and therefore easy to exchange, they also have something intrinsic value that is missing in conventional cryptocurrencies.
How do gold-backed cryptocurrencies work?
The basic concept of the gold-backed cryptocurrencies is certainly convincing. A digital token that represents a certain value of gold is released. A token X coin, for example, represents the worth of one gram of gold.
A reliable third party stores the gold to which the token is hinged. Certain token-holders may exchange the gold.
The value of the gold-backed token shall be equal to the prevalent rate of gold at any given time. That means it will still be priced at the current gold price should the token fail to take off. When the token gains popularity, on the other hand, its value will grow above that of gold.
Difference between gold-backed cryptos and other cryptocurrencies
Besides intrinsic value, its entry-level costs are the other difference between gold-backed cryptos and mainstream cryptocurrencies. Most of the investors in their early days who were quick to buy mainstream cryptocurrencies had to spend only pennies. Nevertheless, for a cryptocurrency backed by gold, the minimum investment must be equal to the current gold price.
The difference between these two classes on cryptocurrencies is their price fluctuations. While the price of digital mainstream coins like Bitcoin and Ethereum will rise and fall to any point, cryptocurrencies backed by gold have a built-in stop loss.
As we have already stated, the value of a cryptocurrency backed by gold cannot fall below the value of gold. When such a coin achieves huge popularity, its price could well rise above that of gold. But if the gold-backed crypto isn't doing well, its value will stay at a gold pace.
Now let’s look at the best Gold backed cryptocurrency which is going to launch soon.
Sudan Gold Coin
Sudan Gold Coin with the token name SGC Token is among the few real Gold backed Cryptocurrency. It is a unique blend of Blockchain and Real Gold Mining Technology. SGC Token aims at addressing the confusion that the cryptocurrency market is currently facing.
The project will also indirectly invest in Sudanese gold mining operations to give users of the open platform the right to purchase the gold mined in Sudan. Furthermore, the Sudan Gold Coin (SGC) Project provides its crowdsale investors a unique opportunity to participate in a project in which both crypto and real-world assets are linked to digital tokens (Sudan Gold Coin), with the additional right to purchase a predefined amount of physical gold.
Important News
SGC is launching the IEO on coming 26th Feb 2020 on a reputed Korean Exchange ChainX, you can buy the tokens directly from the exchange here - https://chainx.kr/ and also from the official website -https://sudangoldcoin.com/
Benefits of Mining Gold in Sudan
Sudan is one of Africa's largest countries, covering approximately 1 881 998 square km. This ranges between 8.45-23.8 N latitudes and 21.49-38.34 E longitudes. The population is 33,419,625 million.
Sudan's mining sector contributes to the national economy by about 8 percent. Gold, chromium ores, gypsum, salt and building materials primarily cement raw materials are the only resources mined in Sudan today.
With such a large area and diversified geology fusing across the borders of seven countries, Sudan has enormous mineral potential yet to be assessed and developed.
Geological studies indicate the diversity and abundance of Sudan's mineral resources, especially gold, with the majority of deposits having geology and structure highly favorable for exploration and mineral mining.
Nevertheless, to develop and improve the infrastructure suitable for mineral exploration, the large area of Sudan requires considerable resources and investments that the country currently lacks. Therefore, the Government is now taking numerous steps to encourage investment (i.e. FDI) in precious metals (gold and other) mining, especially in the northern, northeastern and Blue Nile regions, making the development of the mining industry a priority task for the Ministry of Energy and Mining of Sudan.
Sudan has a huge mineral potential that awaits exploration, evaluation and growth, namely in gold mining.
Infrastructure is evolving, and the investment climate at the national level is supportive and encouraging so the gold mining in Sudan will be beneficial.
How the SGC will be a revolution for Gold Mining
Sudan Gold Coin (SGC) is a revolutionary Blockchain project aimed at developing a groundbreaking decentralized network for the exchange of gold and other precious metals and receiving information on the gold and precious metals markets.
The project will also indirectly invest in gold mining operations in Sudan to provide the right to buy the gold extracted in Sudan to users of the open platform. In addition, the Sudan Gold Coin (SGC) Project offers its Crowdsale investors a unique opportunity to participate in a project in which both crypto and real-world assets are connected to digital tokens (Sudan Gold Coin), with the additional right to purchase a predefined amount of physical gold.
The SGC plans to run a gold mine, which incorporates mineralization on the surface and is dispersed spatially in a manner that is ideally suited to open pit mining methods. Gold quality distribution and the findings of preliminary mineral processing studies suggest that traditional Heap Leaching methods and CIL (Cyanide-In-Leach) can be used to extract the gold from this deposit.
The necessary equipment requires to open pit mining is 30 ton excavators and trucks. Mining is planned on a schedule of 6 days per week, with two 8-hour shifts a day, 312 days a year. Ore production is expected at a nominal rate of 2000 TDP, which is equivalent to 740,000 tons per annum if $10 million is raised. As stated, the project can be scaled so that the output of the ore increases proportionally.
Capital investment amounts to $9,864,000, if $10 million is raised during the Crowd sale. Given the project's high scalability, the capital investments are $24,660,000, if the desired $28,000,000 is raised. The Project's total operating cost is about $35.98 per ton of mined ore.
Conclusion
Contributing to the SGC Project is one of the best opportunities to have access to the SGC Network and the right to buy Gold, tangible assets of everlasting worth, with SGC tokens.
Important News
SGC is launching the IEO on coming 26th Feb 2020 on a reputed Korean Exchange ChainX, you can buy the tokens directly from the exchange here - https://chainx.kr/ and also from the official website -https://sudangoldcoin.com/
