Solana (SOL) and Cardano (ADA) begin to recover as crypto market braces for emergence of Sanzooz Finance (SZFT)

The crypto sell-off that occurred over the past two weeks has shocked cryptocurrency users globally and rightly so.

Terra (LUNA) was a perennial top 10 cryptocurrency, which is measured by market cap, according to data from CoinMarketCap but in a shock event, the altcoin collapsed by 100%, going from a price of $82.19 on May 2nd to a price of $0.00019972, on May 16th.

Many people around the world spoke of losing their entire life savings and once again this event demonstrated the volatility of the crypto market and just how punishing it can be.

While the likes of Solana (SOL) and Cardano (ADA) are beginning to show signs of bouncing back from this latest crash, it’s a stark warning for the likes of Sanzooz Finance (SZFT), a newly-found Ethereum-based decentralised exchange (DEX) on how the cryptocurrency market takes no prisoners.

Is Sanzooz Finance (SZFT) the next best DEX?

By issuing collateralised assets, Sanzooz Finance (SZFT) enables crypto users to perform asset conversions directly through the smart contract, without the need for counterparts.

When artificial assets are locked in the smart contract, they enable the creation of these very assets as they are collateralised by the Sanzooz Network Token.

This technique allows Sanzooz to address the likes of liquidity and slippage issues that normally plague DEXs.

Sanzooz will facilitate the trading of artificial fiat currencies, cryptocurrencies and commodities with its SZFT holders to be rewarded for staking their tokens.

The rewards include receiving a share of fees that are generated by user activity on “Sanzooz Exchange”, a new platform that the protocol is set to launch in the third quarter of 2022.

Due to the decentralised nature of Sanzooz, the ultimate governance system will be decentralised and will also be supervised by multiple subDAOs (decentralised autonomous organisations) under the core Sanzooz DAO.

Each DAO will have its specific operational area and the transparency of a DAO with the organisation’s members taking charge of the platform rather than a central government guarantees that SZFT holders are put first when decisions are made regarding Sanzooz.

Solana (SOL) begins market rebound after crypto horror show

It’s been both a virtual and physical nightmare in the cryptocurrency world with the latest crypto sell-off severely reducing the combined market cap of all cryptos to a total of $1.2 trillion, less than half of the total that is calculated in November 2021, according to data from CoinMarketCap.

Solana (SOL) has certainly been one of the casualties over the past week, having experienced a 23.2% decline in the past 14 days.

Solana (SOL) remains the ninth biggest cryptocurrency in the world, amassing a market cap of almost $17 billion, according to data from CoinMarketCap.

Cardano’s (ADA) Vasil Hard Fork scheduled for June 29

In a similar situation to Solana, Cardano (ADA) wasn’t immune to the crypto sell-off, declining 17.4% in the past two weeks.

Cardano looks to get back on track ahead of the launch of the Vasil Hard Fork that is scheduled for June 29, following confirmation from Cardano founder Charles Hoskinson.

The Hard Fork will witness weighty updates to be deployed on the Cardano blockchain as well as on Plutus, its smart contract platform.

ADA has remained the eighth biggest cryptocurrency in the world, amassing a market cap of over $17 billion, according to data from CoinMarketCap.

Presale: https://sale.sanzooz.finance/register
Website: http://sanzooz.finance
Telegram: https://t.me/Sanzooz_Finance

 

Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of NewsBTC. NewsBTC does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.

 

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