Today, the cryptocurrency market is gloomy, and for obvious reasons. Bigger coins have witnessed severe price shocks, keeping investors’ portfolios in the red. But this doesn’t always have to be your lot. Coins like the FirepinToken (FRPN), Tezos (XTZ) and KuCuin (KCS) are giving hope to holders.
Tezos is a blockchain network linked to a digital token (XTZ), a “tez” or a “tezzie.” Unlike most cryptocurrencies, Tezos is not based on the mining of tez; instead, token holders get a reward for taking part in its proof-of-stake consensus mechanism.
A distinguishing feature of Tezos is its governance. While most early blockchains rely on development teams and mining communities, Tezos builds the decision-making process into the network of users itself. As such, Tezos creates incentives for user participation in the core development process, thereby democratising the development process and decentralising maintenance.
Tezos has been described as a self-amending cryptocurrency ledger that can upgrade itself using a functional module that can offer new functionality without a hard fork or split in the blockchain. It is an open-source blockchain that supports NFTs.
In its presale in 2017, Tezos (XTZ) raised a record $232 million, making it one of the most successful ICOs ever. However, an XTZ sells at $1.47, according to CoinMarketCap. It’s one of the altcoins with relatively stable prices, having absorbed the crypto collapse and falling only by 7.5% in the last 24 hours.
KCS is the native cryptocurrency of KuCoin, a renowned crypto exchange that enables users to stake funds and own KCS coins. On KuCoin (KCS), a user can stake 15 currencies, including Ethereum (ETH) 2.0, Algorand, Tezos and Cosmos, each with different fees and reward rates.
KuCoin’s soft-staking is one of its most remarkable products that catch the fancy of the staking demographic as it offers no hard locking period. This means you can use the coin at any point and still earn passive income. The soft staking programs feature redemption periods, i.e., the time between when holders stop staking and regain access to the staked funds or rewards.
For example, while Polkadot (DOT) has a 28 days redemptive period, for others, it’s between a week and a few days. In any case, how much you earn from KuCoin staking depends on the coin you are staking. Each coin has a unique APR (annual percentage rate), which is why Cardano (ADA) has 4.48% while Polkadot (DOT) has 13.46%. Essentially, you get to earn more with a coin that has solid potential to grow. The current price of KuCoin is $11.35, with a 24-hour trading volume of $6000867. KCS price is down -4.0% in the last 24 hours, as against the falling cryptocurrency prices of bigger coins of 15% to 20%.
Firepin Token (FRPN)
Firepin is a metaverse token that allows users to efficiently deal with the different blockchain networks. It is a DAO where holders of the Firepin Token (FRPN) will use their tokens to vote and make major decisions as Firepin evolves over time. The Firepin Token is multichain; as such, it may be used on multiple networks. In ensuring price stability, Firepin employs the Algorithmic Reserve Currency mechanism.
FRPN aims to connect Binance Smart Chain (BNB), Ethereum (ETH), Polygon (MATIC), Avalanche (AVAX) and Solana (SOL) and allow its holders to execute transactions on a quick and affordable scale. According to the White Paper, “Firepin hopes to build the largest community in the crypto world and tokenomics, as well as promote a long-term, rapid increase in the Firepin Token’s value.”
Alongside its initiatives to capitalise on the metaverse and play-to-earn (P2E) games, FRPN intends to offer staking and farming options. Via its staking platform, Firepin users will validate transactions based on the number of coins they contribute or stake. When you stake more coins, you increase their chances of being chosen to validate network transactions and earn rewards. Its yield farming enables users to lend cryptocurrencies with interest and earn fees in some cases.
The presale is selling at great numbers, and in view of the crypto collapse and falling cryptocurrency prices of bigger coins, it could be interesting to dive in. Follow the links below for more information on the Firepin Token (FRPN):
Always conduct proper research when dealing with pre-sales of currencies and tokens. The information above does not constitute investment advice by CryptoMode or its team, nor does it reflect the views of the website or its staff.
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