Staking has been an emerging concept in the decentralized world. The new function of blockchain has attracted a massive following from crypto fans due to two main reasons, namely, security and returns.
Crypto projects under the Proof-of-Stake consensus mechanism operate so that users have to stake their funds to a shared pool used as collateral to validate transactions on the network. Uniswap and Pancakeswap are decentralized crypto and derivatives exchanges that allow users to stake funds in the ecosystem to provide liquidity. There have been minimal improvements in this technology until the rise of the Oryen Network.
UNI and CAKE DeFi projects
UNI token is Uniswap’s native cryptocurrency. Uniswap is a decentralized exchange that allows users to trade ERC-20 tokens without using an intermediary or a central entity. Unlike traditional exchanges, Uniswap is self-contained and does not require customers to apply for KYC approvals. Uniswap is part of the DeFi ecosystem. The platform uses a constant product Automated Market Maker (AMM). Uniswap is the most extensive Decentralized application on the Ethereum network, making its token, UNI, a lucrative deal for enterprising users.
UNI launched in September 2020 and has since made its way to becoming one of the top largest cryptocurrencies by market cap and trading volumes. UNI was initially introduced as a governing token to allow Uniswap users to decide on future developments. Although it was initially airdropped to previous Uniswap users before September 2020, the token has significantly risen in value over time.
CAKE is the native cryptocurrency of another decentralized exchange known as Pancakeswap. Pancakeswap is one of the most renowned DeFi platforms in the world, with trading volumes amounting to hundreds of millions of dollars.
Unlike Uniswap, Pancakeswap has been established on the BNB Smart Chain network, a competitor of the Ethereum intelligent contracting platform. Like other Decentralized exchanges, the platform uses smart contracts to match buying and selling orders. Due to its massive usage, DEX’s native token, CAKE, has grown in popularity, rising to number 65 on CoinMaketCap’s top cryptocurrency projects.
Both of these tokens have their uses, but with such high market caps and low yields from holding the token, there are far better opportunities around.
Oryen Network, the ultimate choice
Next-generation staking is currently being developed on the Oryen Network after the protocol raised more than $1 million in seed funding.
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