Crypto Crash 2022: Three Cryptocurrency Projects to Watch- Frax (FRAX), Gate Token (GT), and HachiFi (HACHI)
The cryptocurrency markets have been hit by the crypto crash 2022. This bear market has seen projects lose as much as 80% of their values with previously thought “Blue Chip” projects also taking the hit. The bear market has cut across all of crypto including NFTs and DEFI projects and this has set cryptocurrency investors on the edge. HachiFi news…
To take full advantage of this bear market, investors should look for good projects currently trading at a discount and purchase them. This is a tricky process as proper research is needed to pick good projects. As the cryptocurrency markets are currently volatile, it is normal for investors to go into preservation mode. Furthermore, with the amount of crypto projects available, it can be difficult to pick winners.
Three projects you should be watching in this crypto bear market are: Frax (FRAX), Gate Token (GT), and HachiFi (HACHI). These three projects are tackling unique problems in the crypto ecosystem and provide utility for their users. Furthermore, they continue to run smoothly regardless of current market sentiments which is a testament to their resilience. Here is a brief summary of these three projects.
Frax (FRAX)
Frax (FRAX) is the first fractional-algorithmic stable coin in crypto. It is a decentralized, open source, and on-chain stable coin built on the Ethereum (ETH) blockchain. Frax uses a mix of crypto collateral and its algorithm to maintain its peg to $1. The stable coin is a new entrant into the stable coin category of crypto which includes: fiat backed, over collateralized, and algorithmic stable coins. Although it is currently on the Ethereum blockchain Frax will migrate to other blockchains to increase its accessibility.
FRAX uses decentralized governance protocols to ensure that all parts of the protocol are automatically controlled without human interference from governance token holders. On the other hand, the FXS token is the governance token of the protocol which gives users limited governance rights on the Frax protocol.
Gate Token (GT)
Gate Token (GT) is the native token of Gate public blockchain. The blockchain was built to improve on-chain asset security. Gate helps its users to secure their assets on its blockchain by providing tools that prevent hacks or exploits . The increased frequency of hacks and wallet drains in crypto makes it important to have your assets stored on a secured chain. Security is a big challenge for the crypto community and Gate Token provides a solution for the problem. The blockchain uses its technology to offer users a better way to secure their assets without moving them off-chain. In addition, it uses its unique consensus mechanism to secure the network from hacks or attackers.
Gate Token offers various customization options and delay mechanisms that users can utilize. Some of these work even after private keys have been compromised providing all round security. These measures ensure that your assets are secured when you use the Gate Token blockchain. Gate Token is used for fee payments and rewards on the blockchain.
HachiFi (HACHI)
HachiFi (HACHI) is a layer 3 decentralized finance solution that will redesign the way decentralized finance is structured. It would bring a new dimension to staking, investing, and passive earnings. HachiFi would also impact cryptocurrency by offering products on its protocol that would impact DEFI, NFTs, and the metaverse. In addition, the HachiFi ecosystem would build solutions that allow users to transact, make payments, and purchase NFTs.
The HACHI token is built on the Binance Smart Chain (BSC) using the BEP-20 token standard. It can be swapped for other BEP-20 tokens on any exchange of the holder’s choice. Furthermore, the HACHI token would use deflationary measures to maintain the price of the token and it would maintain a hard cap supply of 1 billion tokens.
HachiFi (HACHI)
Presale: http://signpup.hachifi.com/
Website: http://hachifi.com/
Telegram: https://t.me/HachiFiOfficial
Twitter: https://twitter.com/HachiFiToken
