News Early Token Project Stars in the Ethereum Ecosystem

Early Token Project Stars in the Ethereum Ecosystem


- Advertisment -

Early Token Project Stars in the Ethereum Ecosystem

Early Token Project Stars in the Ethereum Ecosystem

After the ICO boom in 2017, Ethereum caught flak for becoming a breeding ground for scams and unnecessary token projects. But among the bad has come the great. A handful of projects in Ethereum have already proven to have impressive potential in the here and now. 

Also read: Bitcoin Block Size: Getting Fatter, But Decrease Chatter Growing

We love hearing from our readers. Sound off on our Twitter or Facebook pages
Check out our insights & interviews with influential insiders on the Bitsonline YouTube channel
And for the only source of UNFILTERED trading volume, head to CoinBillboard

Maker (MKR) and Dai (DAI)

Leveraging the Ethereum blockchain, the Maker team have created a dual-token ecosystem that allows users to lend themselves dai, a stablecoin pegged to the dollar, using ether as collateral in so-called collateralized debt positions, or CDPs.

Early Token Project Stars in the Ethereum Ecosystem
The Maker team put the dai stablecoin on the map. Image via CoinBillboard

MKR is used for governance voting and fee payments on the Maker smart contract platform underpinning the dynamic feedback systems that maintain the dai’s dollar peg.

As for dai, it’s proven to be an early hit in the Ethereum community. Around two percent of the present circulating supply of ether is currently locked up in Maker CDPs, with more than $70 million USD in dai issued at the moment accordingly.

Early Token Project Stars in the Ethereum Ecosystem
Some have hailed the dai stablecoin as one of Ethereum’s most important projects to date. Image via CoinBillboard

And the stablecoin autonomously maintained its USD peg amid the 2018 cryptoeconomy downturn even as Tether lost its own dollar peg.

So MKR and DAI are visible reminders that open finance is already here. Self-lending via smart contracts cuts out the need for trusted third parties and portends a future of increasingly decentralized finance.

Augur (REP)

The Augur prediction market finally went live last summer to much ado after the Augur team held their REP token offering back in 2015.

While use of the platform’s been modest so far, its introduction to the wild has been Ethereum’s most high-profile example yet that such decentralized markets aren’t only possible, they’re likely just start of what’s to come.

Early Token Project Stars in the Ethereum Ecosystem
Augur: decentralized predictions marketplace project with layers of possibility, e.g. Veil. Image via CoinBillboard

For example, the Veil predictions and derivatives platform, which leverages Ethereum, Augur, and 0x simultaneously, launched earlier this year. The project is an early case study for what’s possible going forward with Augur as a foundational layer.

Aragon (ANT)

Aragon (ANT) is a dapp play that’s aimed at allowing anyone to create decentralized autonomous organizations, or DAOs, via its platform. The Aragon Network is set to go live on Ethereum in late 2019.

Early Token Project Stars in the Ethereum Ecosystem
Aragon: toward making DAOs accessible. Image via CoinBillboard

If Aragon can continue to make inroads, its network may eventually prove to be a catalyst for companies adopting DAO infrastructure in their mainstream operations.

And while the Aragon team has said they’ve explored expanding elements of their operations to smart contracts platform Polkadot, the project’s leadership has confirmed they remain excited and in the trenches in the building Ethereum’s future.

What’s your take? What token projects in the Ethereum ecosystem are in your top five? Let us know in the comments section below. 

Images via CoinBillboard, Pexels

Source link


Please enter your comment!
Please enter your name here

Latest news

What’s the future of decentralized blockchains?

When Bitcoin was new and not valued at anything or just a few cents anyone could join...

My 5 favorite free crypto tools & sites I use daily

So I often get asked by friends, or people visiting my site about new tips for exciting...

Cryptocurrency is The Last Kingdom Where You Can Keep Your Data Private

Data privacy has been a hot topic for quite some time now and particularly after the popularity...

How To Travel With Bitcoin: 9 Travel Companies Accepting Bitcoin

Bitcoin travel is a reality, as several travel companies now accept payments in cryptocurrencies for their services.
- Advertisement -Early Token Project Stars in the Ethereum Ecosystem

Top 5 Ways To Build a Profitable Business in The Crypto Sector

The crypto industry has grown significantly despite criticism and a skeptical approach from regulators across the globe....

These 8 Cryptocurrencies Will Survive the Next Decade

Cryptocurrency is the future, we all have reasons to believe it. But are people ready...

Must read

- Advertisement -

You might also likeRELATED
Recommended to you