The creation of cryptocurrencies has been a constantly evolving innovation. Everyday improvements are being made to facilitate the smooth running of crypto-based transactions.
The creation of Stablecoins sped up accepting cryptocurrencies as an alternative to fiat. Using its fully decentralized system, the Gryffin DAO is assisting the fiat-crypto transition.
Cutting-Edge Features Of Gryffin DAO
Gryffin DAO (GDAO) is a newly developed decentralized platform. It is scheduled to launch in the third quarter of 2022. It introduces unique utilities for its users. Some of these features include;
The Gryffin Token: This is a cryptocurrency built on the Binance Smart Chain network. The BEP 20 token is traded under the GDAO symbol. $GDAO is the main currency used for transactions within the Gryffin DAO ecosystem.
In addition to being the heart of the platform, $GDAO will provide different features to its holders. Some of these features of the GDAO token include;
1. Interaction with its native DEX: The Gryffin DAO decentralized exchange is a crucial aspect of the Gryffin DAO platform. This will allow users to swap their tokens in a peer to peer environment.
This swapping process will be decentralized, eliminating the influence of third parties. $GDAO will be the base token for interacting with this DEX. $GDAO users will experience huge discounts when using it to pay transaction fees.
2. Staking: This allows $GDAO holders to support the platform while earning passively. Staking involves $GDAO holders locking up their tokens within the ecosystem for a period.
After the staking period is over, they receive compound rewards. The staking reward is proportional to the number of tokens staked.
A Proof-Of-Stake system manages the staking process. It is an eco-friendly system that uses stakeholders as part of transaction verification processes.
3. Yield Farming: It allows $GDAO holders to earn the maximum returns for their tokens using the DeFi protocol. Yield farming provides liquidity to facilitate lending and borrowing cryptocurrency within the ecosystem.
Yield farmers still have access to their tokens; they can switch to more profitable liquidity pools.
4. Another feature available to $GDAO holders is governance rights. Members of the Gryffin DAO will make up the governing body of the DAO.
Despite the features offered by $GDAO, the fact remains that it is new in the coin market. How will it compete with pre-existing projects?
GDAO Versus Stellar and Mantra DAO
The Stellar blockchain was designed to facilitate fiat-crypto transactions. The blockchain chain works with several financial institutions. It enables financial institutions to carry out swift cross-country transactions.
Its native token Lumen has the ticker symbol XLM. The $XLM serves as a temporary settlement currency between transactions on the blockchain.
- It also enables token holders to withdraw their XLM tokens as fiat easily.
- Stellar blockchain trumps traditional cross-country transaction institutions.
- Transactions are completed without lags despite the volume
- The cost of the exchange is significantly lower.
- It works on blockchain technology which makes it secure and reliable.
Mantra DAO is a crypto platform dedicated to offering decentralized finance services. An autonomous organization manages it and it is hosted on the RioChain blockchain.
The Mantra DAO also offers multi-chain functionalities. It integrates popular blockchains like Polkadot, Binance Smart Chain, Ethereum, and Polygon.
The Mantra DAO native token traders with HT as its symbol. This utility token offers numerous features to holders. These include;
- Staking: $HT holders can stake their tokens to support the platform while earning staking rewards.
- Lending: Token lenders can earn additional tokens by lending their $HT tokens to liquidity pools.
- Lottery: $HT users are eligible for a weekly draw done on the platform. Lucky users can win up to 25% of the platform’s transaction fees for that week.
- Governance: $HT is the governance token. Participants in the platform can contribute to decision-making processes.
The Stellar (XLM) token and Mantra DAO (OM) offer specific features. However, the features provided on the Gryffin DAO platform are numerous. The platform will keep evolving until its token ranks among the top stablecoins in the coin market.
The Final Thought
Gryffin DAO is the stablecoin of the future. Its features will transform the coin market. Participate in the presale to enjoy these benefits.
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