The newly launched CashFi (CFI) cryptocurrency could potentially provide bigger and better returns than Cardano (ADA) or Solana (SOL). CashFi will help users to trade synthetic assets and very few cryptocurrency projects are currently engaged in this sector. CashFi might pioneer a new trading technology with the help of a blockchain network to leverage synthetic assets trading. Let’s find out why CashFi could be a better investment asset in the long term.
Cardano joins hands with Seedstars and Financial Times to launch Blockchain Challenge
Cardano’s project catalyst that helps developers who wish to seek funding for their blockchain projects has come up with a Cardano Blockchain Challenge in association with Financial Times and Seedstars. A few selected startups will earn a chance to participate in a 3-day Bootcamp, they will also get a chance to interact with Seedstars’ network of mentors, and receive tech support. The selected global winner will get a short track to Seedstars’ International Ventures Fund. In addition, 24 startups will be selected to participate in a 3-month acceleration program. This will further help in the adoption of the ADA Token. Cardano’s project catalyst has funded many interesting projects in the past. Cardano remains a hot favourite cryptocurrency because of its peer-reviewed blockchain network.
Solana powered StepN gamefi project earns $3-5M per day
The Solana powered gamefi project StepN which rewards users for exercising has disclosed that it earns $3-5M per day from trading fees. It is raking in up to $100M per month in terms of revenue. The SOL Token has delivered handsome rewards to its users since it is the primary coin of the Solana ecosystem. The more its blockchain gets used, the more valuation SOL Token will command in the future. The Solana network is known for processing quick transactions while charging lower fees than other similar blockchains.
CashFi powers cross-chain synthetic assets trading
The CFI Token of the upcoming synthetics trading platform CashFi will help users in trading commodities across a variety of assets.
The current commodities trading marketplaces offer few assets and sudden volatility in a sector can strongly affect a users’ investment portfolio. The CashFi ecosystem will allow users to trade a diverse set of commodities by allowing them the ability to easily mint assets by offering the CFI Token as collateral. There will be no strict centralization so users will be able to easily trade commodities of their choice.
The CashFi platform will also offer CFI NFTs but through a mix of wide-scale decentralization and cross-chain interoperability. Every user will be able to create a unique marketplace and control every aspect. CashFi will provide the facility and tools required to build an NFT marketplace. This will allow artists to showcase their creative NFTs and control various aspects which are not possible in traditional marketplaces. Users will also be able to mint NFT assets across various blockchain networks since the CashFi network has incorporated interoperability.
Holding the CFI Token will allow users to get a say in the governance of the CashFi empire since the network is decentralized and will work on a DAO based model. Users will also be able to earn additional and passive income by staking the CFI Token. The CFI Token will be offered via a presale program soon.
Another unique advantage of holding the CFI Token is the ability to participate in liquid staking. Liquid staking allows users the ability to retain control over their assets and staking can be done by using an intermediary platform such as CashFi. Users can still participate in DeFi without losing control over their assets. In traditional staking, the assets get locked for the duration of the program and users have to incur dynamic fees while depositing and withdrawing assets. CashFi helps in allowing access to liquid staking by allowing users to stake with an equivalent amount of ERC-20 tokens.
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