In this blog post, we will take a closer look at three DeFi coins – CashFi (CFI), THORChain (RUNE), and PancakeSwap (CAKE) – that are redefining the market. Each coin has its own distinctive features, making them well worth considering for anyone looking to invest in cryptocurrencies. So, without further ado, let’s take a closer look at each one!
A Project, Based on a Seamless Infrastructure: CashFi (CFI)
The decentralised nature of the cryptocurrency industry has attracted many investors from all over the world. The biggest reason for this is the insurmountable problems of the traditional financial system. Based on this fact, the CashFi (CFI) project was implemented to provide NFT and Synthetic Asset services. The platform aims to create the ideal ecosystem in this field.
According to the dev team, the CFI token will serve as the foundation for CashFi’s cross-chain platform. CFI token holders will be able to contribute to the management of CashFi (CFI) with privileges such as submission of proposals and voting rights. All users will have the opportunity to decide on the future, vision, development, and other various platform changes. The project team underlines that holding the CFI token is a great opportunity, especially for beginners. Besides, it invites users to help secure the ecosystem.
CashFi (CFI) has launched a sizable bug reward program to create a seamless infrastructure. As a result, users are rewarded with CFI tokens for reporting bugs on the platform. CashFi also has its own NFT marketplace. All NFT collections can be traded, bought, and sold here.
The Old Reliable: THORChain (RUNE)
THORChain (RUNE) is a cross-chain decentralized exchange platform (DEX). The foundations of the project date back to 2018. In other words, it is possible to say that the platform has a very rooted structure. THORChain (RUNE) constantly provides liquidity for users. In addition, the leading cryptocurrency allows tokens such as Bitcoin (BTC) and Ethereum (ETH) to be traded.
The THORChain (RUNE) project provides the opportunity to switch between blockchain networks. THORChain’s primary local asset is known as RUNE. The RUNE token uses an automated market maker (AMM) model similar to the first iterations of Bancor or Uniswap. In this way, it becomes possible to use the RUNE coin as a secret agent and move it between different pools. In addition, liquidity providers receive a certain amount of trading fee rewards by depositing assets on both sides of a liquidity pool.
PancakeSwap (CAKE) is one of the exchanges with the highest daily trading volume among decentralized cryptocurrency exchanges. A large number of daily transactions are carried out safely in the stock market, and users earn various incomes. The most prominent feature of the PancakeSwap exchange, which runs on Binance Smart Chain (BSC), has low transaction fees. BSC blockchain has much lower transaction fees than Bitcoin and Ethereum blockchains. The biggest reason why users prefer the PancakeSwap exchange is its low-cost feature.
Unlike centralized exchanges, users have complete control over their own assets on the PancekeSwap exchange. The platform allows its users to earn CAKE and other high-interest tokens. Since PancakeSwap (CAKE) is built with open source codes, all smart contracts are presented to users transparently. The platform also offers users different earning methods, such as free tokens and lottery. Users can earn income by mining as well as other various methods. Users who stake their assets with many different tokens make a certain amount of profit according to the supply and demand balance.
CashFi (CFI) is one of the most promising DeFi coins on the market. It has a well-defined use case, a strong team, and a bright future. Investing in CashFi besides THORChain (RUNE) and PancakeSwap (CAKE) may be good for anyone looking to get exposure to the DeFi market.
first published:June 16, 2022, 6:55 p.m.