Despite the recent downturn in the crypto market, DAOs have been performing relatively better. Especially certain DAO protocols and platforms like DAOmaker and BitDAO. BitDAO in particular has seen more of its community constantly voting during recent proposals. These signs could potentially be handwriting on the wall that DAO would play an important role in the recovery of the crypto market. Bitcoin and Ethereum are currently down, but with Ethereum’s upcoming merger event, there is a chance that Ethereum might bounce strongly in price. DAO tokens however cannot be overlooked at this point. One very solid example of DAOs with solid potential is GryffinDAO, a decentralized protocol built on the Binance Smart Chain.
What’s Going On With Bitcoin, Should We Expect To See Newer Lows?
Bitcoin is currently struggling to maintain that $20k position it has been maintaining for the past couple of weeks. This has got many asking if we’ll be seeing newer lows soon enough. The United States Federal Reserve’s rate hike on September 21 will determine the market direction in the next few months. According to Wall Street analysts, the Fed may boost rates by another 75 basis points in September to combat approaching hyperinflation, which will certainly knock Bitcoin farther below the $20,000 mark.
With The Ethereum Merger Incoming, Can We Expect A Major Bounce In Price?
Ethereum’s merger event coming up on the 15th of September has been termed by many as the biggest crypto event of the decade. This event will see the Ethereum blockchain move from its current network consensus which is the Proof-of-Work to a different consensus which is the Proof-of-Stake. Many already believe this event will cause some serious price action and most seem to think it’ll be a bullish one. While it is fair to believe it could go either way, it seems more likely that we’d witness a pump in price. The Merge’s origins can be traced back to the launch of Ethereum. Vitalik Buterin, the founder of Ethereum, proposed converting to proof of stake in 2014, but the protocol was unproven at the time. Bitcoin, which uses proof of work, was the most successful cryptocurrency.
GryffinDAO And The Undervalued DAO Market
Since Satoshi Nakamoto’s creation of Bitcoin in 2009, multiple models in blockchain technology have been used to improve various aspects of the cryptocurrency ecosystem, such as token circulation, security, and price volatility. Despite their growing popularity, cryptocurrencies have primarily been used for speculation. Because of the frequent pump and dump as well as daily volatility, many individuals are cautious about using it in daily transactions to purchase goods or services. This growth resulted in the invention of stable coins like as USDT and BUSD, in which we store non-volatile value to sustain purchasing power. While this works in theory, it also means that stable coins, because they are backed by the US dollar, are not officially stable. The value of the US dollar has fluctuated over time, thus a dollar today is worth more than a dollar tomorrow.
GryffinDAO offers a GDAO token with numerous use cases and employs a deflationary rebase method to keep the token system stable in the face of market forces. To have actual value, a token must either maintain a consistent price or increase in value over time. While Bitcoin is widely acknowledged as a store of wealth, the token increase is based upon buying speculation and mining of what remains in supply.
What is GryffinDAO?
GryffinDAO is a DAO platform that offers its holders all-around utility creation. You can expect a fast, secure, and decentralized trading experience because it is built on one of the largest cryptocurrency platforms-Binance Smart Chain. Their objective is to offer the GDAO token actual utility, essentially making it a superior long-term alternative to stable currencies and other similar token systems.
What Does The GryffinDAO Team Hope To Achieve Through This Protocol?
GryffinDAO seeks to develop value stability in the crypto space, making it a better and more long-term alternative to traditional financial transaction models. The primary goal is to create a long-lasting utility, ensuring that GDAO tokens can be introduced to the common market of everyday transactions for goods and services in collaboration with their community.
How Does The Rebase Token Model GryfinnDAO Uses Work?
GryffinDAO employs a deflationary rebase token mechanism to guarantee token stability. Rebase token is a cryptocurrency where supply is algorithmically altered in order to manage its price. GDAO tokens, like stable coins, will be tied to another asset. This system, unlike stable coins that are backed by reserves, automatically burns tokens or mints fresh ones. This implementation is required to ensure that the tokens’ value is preserved and flows appropriately without any price shocks. It increases users’ confidence in holding the tokens and using them to enable transactions for products or services.
GryffinDAO Will Have Its Very Own DEX Where Its Users Can Swap Tokens Using P2P
GryffinDAO’s token model is the BEP-20 standard, and their tokenomics take a deflationary approach. This means that earnings generated by the GryffinDAO ecosystem will be deployed to repurchase and burn tokens from the marketplace, ensuring that GDAO remains deflationary over time. Decentralization is a vital component of the GryffinDAO purpose; in order to achieve this, a decentralized trading platform must be implemented. GryffinDAO DEX enables peer-to-peer trading among users at high speeds and cheap fees, and is supported by hard-coded capabilities that eliminate the need for third-party intervention. This guarantees that transactions remain within the authority of users, preventing privacy abuses and securing user assets.
What Is GDAO Tokenomics?
GryffinDAO will have a total supply of 500,000,000 tokens. 20% would be allocated to public sales, 20% to future initiatives, and another 20% for private sales. 15% would serve as company reserves, 10% for strategic partnerships, 5% for liquidity, 5% for staking, and another 5% would be for the team. Anyone with the tokens can sell them on the exchanges where it is listed, hold them as an investment for a higher future price, or use them to purchase NFTs on the network. The GDAO tokens are owned by players, not the developer. As a result, the user can easily resell or trade virtual assets by deleting them from the game. Staking, governance, LP rewards, and yield farming are examples of GDAO token utility. Token holders will also be rewarded for providing liquidity on the DEXs where the GryffinDAO gaming platform token is available or for staking GryffinDAO gaming platform tokens.
What To Expect From The Future Of GryffinDAO
In the future, GryffinDAO would include the following in its ecosystem; Multi-chain interoperability, allowing for seamless asset transactions across many platforms. This will make our offerings available on all chains, just as they are on the Binance smart chain; NFT marketplace, GryffinDAO gaming platform will house a diverse variety of NFTs. On the GryffinDAO marketplace, the in-game token GDAO can be used to purchase NFTs; GryffinDAO Lottery which will have a prize pool contest for NFT holders; DeFi gaming and its rapidly expanding sector; GryffinDAO metaverse, where users can enjoy an immersive experience through AR/VR.
GryffinDAO is currently running its public presale, and you can grab tokens early with many bonus offers also available. You can get more news on GryffinDAO by reading here.
For more information, check here:
Presale: https://fly.gryffindao.com
Website: http://gryffindao.com/
Telegram: https://t.me/GryffinDAO_Official
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