Digital currencies are growing so fast these days! So we decided to talk about 5 you may not be aware of.
The new generation of cryptocurrency assets has the potential to reach very high values, according to influencer and digital currency investor Lark Davis.
According to Davis, he is reviewing five Decentralized Finance (DeFi) tokens based on Ethereum’s competitor, Polkadot.
5 Digital currencies
Digital currencies: No. 1: Acala
The first asset on our list is called Acala (ACA). According to Davis, it is making significant profits from crypto insiders. That’s because of platform’s value proposition and big money players.
Acala is a high-cap, multi-collateral, cross-chain decentralized stable coin. It belongs to the Polkadot ecosystem. Moreover, it has resulted in the introduction of the Acala Dollar. ACA token govern Acala Dollar:.
This platform allows users to send, receive, lend and get rewards in USD across any of the blockchains connected to the Polkadot network.
In addition, Acala allows you to stake your assets and receive proxy tokens in exchange. This practically allows you to use these proxies for DeFi while receiving rewards at the same time.
Digital currencies No. 2: Ocean
The second digital currency on our list is the Ocean Protocol (OCEAN). Davis says it allows developers to build applications that can securely publish, transfer, or use public and private data.
According to him, Ocean is launching a data market in collaboration with the Balancer platform, a market maker built on Ethereum.
Davis notes that major contributors to the Ocean Protocol include Daimler AG and the German automobile multinational corporation, famous for Mercedes-Benz.
Digital Currencies No.3: Mantra DAO
Number three on our list is Mantra DAO (OM). They are decentralized and autonomous organization which has some very attractive features for the DeFi fans. They are also building cross-chain bridges, staking services, lending and borrowing, and stable coins.
Davis said OM is building a strong ecosystem, even after a significant drop in market price. Above all, this digital currency is shaping its partnership with BAND, Kava (KAVA), Terra (LUNA) and Kira (KEX) protocols.
Digital Currencies No. 4: Rio DeFi
Fourth place of the list belongs to Rio DeFi (RFUEL). Rio is the new digital currency asset of a parallel chain, or Polkadot parachain. According to Davis, it is now the list of exchanges.
Although the RFUEL’s price fluctuations were less than Stellar recently, but our crypto investor says it shows a lot of promise.
In addition, Rio allows users to easily enter or exit the DeFi using their Fiat gateways or Rio wallets.
Rio has focused specifically on decentralized finance. That is to say, the overall goal of their parachain. They are trying yo run a number of smooth, fast, and low-cost DeFi in the Polkadot ecosystem.
Digital currencies No. 5: Polkastarter
The last Polkadot-based asset on our list is called Polkastarter (POLS). Davis notes that this asset is building a decentralized exchange (DEX) for pools and interchain token auctions.
Most importantly Polkastarter is launching a multi-chain, interoperable, decentralized exchange. This will definitely become a huge platform for the Polkadot ecosystem.
Davis is very positive about long-term investment in DeFi. However the popular crypto analyst Cantering Clark says short-term investment is bleak. Addressing his 28,000 followers, Clark says the nascent sector has run its course for the time being.
Meanwhile, DeFi has now reached the stage of its maturity. Get ready to deal with the approximate graphs you get from the whole process. Not much has changed in this area; Rather, we are only facing a new trend.