Decentralized Exchanges are in a constant tussle with cross-chain tokens, as both serve the purpose of seamless asset transfer and trading in the cryptocurrency market.
When the DEX lacks the liquidity for a particular trading pair, users turn to cross-chain coins. Dogeliens (DOGET) will be placing much pressure on BNB and Aave (AAVE), amongst other Exchange platforms, as it seeks to make asset transfer easier between tokens. Read on to learn about Dogeliens (DOGET) and its effects on established DEXs.
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BNB
Binance (BNB) is currently the biggest exchange platform in the cryptocurrency market today, and the token has come a long way since its launch in 2017. The coin, BNB, was launched to power the exchange while providing traders with a relatively stable token.
Binance (BNB) entered the crypto stage to resolve the issue most popular DEXs at the time were facing with liquidity. The other DEXs were operating on a smaller scale compared with what the crypto space was already at.
Traders experienced frequent disappointments with exchange platforms because of insufficient funds in the liquidity pool. However, Binance (BNB) solved this by bringing huge partners into its investment. The capital generated was sufficient to kick off a large-scale decentralized exchange that will serve the cryptocurrency market.
Over time, Binance (BNB) developed from offering trading services like futures, spot, and margin trading, to providing more extensive utility to its users. The platform now features Binance Earn, an initiative where users can earn interest on their deposits into the platform. Another feature is the insurance service Secure Asset Fund for Users (SAFU), which ensures users' assets against fraudulent activity leading to loss.
The Dogeliens (DOGET) launch might affect the platform, as users might prefer to convert tokens on the Dogeliens network. BNB currently sells for $268.8, according to CoinMarketCap.
Aave (AAVE)
Aave (AAVE) is another top decentralized exchange that might be affected by Dogeliens' launch soon. The platform is a crypto lending platform, providing liquidity for traders to borrow from.
AAVE is an Ethereum-based token, and it governs the Aave (AAVE) network, where it is used during voting and as an incentive for users who deposit Aave (AAVE) and those who borrow Aave (AAVE). The depositors contribute liquidity by depositing coins on the network. The depositors get their interests passively from their investment, depending on the rate of withdrawals calculated by the algorithms.
On the other hand, borrowers receive funds from the Aave platform without collaterals. This is the flash loan feature on the platform, which serves traders from all socioeconomic classes. The interest rates for borrowers are calculated based on the demand and supply of the token in question.
The official token for the network is AAVE which is available on CoinGecko for $82.70.
Dogeliens (DOGET)
Dogeliens (DOGET) is a cross-chain memecoin designed to be the toast of the cryptocurrency market in the coming weeks. The cross-chain feature is not new; however, not many coins are so versatile as to combine features as Dogeliens does. This is why it is backed to attract more users from the current DEXs.
Dogeliens' (DOGET) protocol provides an ecosystem worthy of a GameFi project, with its NFT-generating tools and platforms in place. The ecosystem will feature a blockchain NFT minting platform, the Playpen, where users can access advanced-level gaming. They will also be able to tokenize their digital content in the Playpen. The Pupstore is a platform for NFT display, where already minted NFTs are placed for display and sales. The two platforms use smart contracts to bind the NFTs to prevent theft.
The last aspect of the Puptopia ecosystem is the University of Barkington. It is a blockchain learning initiative designed to teach the users the benefits they stand to gain from using the several DeFi tools around them. As the cryptocurrency market increases in popularity, developers want to help users explore opportunities in decentralized finance.
Do you want to be a part of the next big memecoin? Access the presale through this link, and stay tuned for more news from Dogeliens (DOGET):
Presale: https://buy.dogeliens.io/
Website: https://dogeliens.io/
Telegram: https://t.me/DogeliensOfficial
“Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.”
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