The Most Noteworthy DeFi Coins in 2022:WRAPPED BITCOIN (WBTC), SEESAW PROTOCOL (SSW) AND THORCHAIN (RUNE)
Decentralized Finance (DeFi) grew explosively last year. In addition, 2021 is a watershed for many DeFi cryptocurrencies, including wrapped bitcoin (WBTC) and thorchain (RUNE), which reached an all-time high in 2021.The total value of DeFi pulse locked in the DeFi protocol is more than $75 billion – a 6.5-fold increase from about $10 billion in January 2021. This is the value of all deposits currently used for cryptocurrency purposes, such as loans, deposits and liquidity pools.
Interestingly, a newcomer to the DeFi field called seesaw protocol (SSW) seems to be about to subvert the industry. This article discusses all three groundbreaking DeFi currencies and why they should be included in your portfolio.
Wrapped Bitcoin (WBTC)
Wrapped bitcoin (WBTC) is an ERC-20 token based on Ethereum (ETH) as an alternative to bitcoin (BTC). The connection of WBTC with Ethereum wallet, decentralized applications (dapps) and smart contract is a substantial benefit.
A bitcoin can be exchanged for a packaged bitcoin through WBTC partners, and vice versa. WBTC was developed to enable bitcoin holders to participate in Ethereum’s popular DeFi application.
This interoperability function enables cryptocurrency holders to more actively participate in decentralized applications and enhance the liquidity of smart contract platforms.According to coinmarketcap’s data, WBTC’s current trading price is $39600, which has brought 1033% return on investment to early investors since its establishment, making it a fast-growing DeFi currency.
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The thorchain (RUNE) project was launched in 2018 because the transfer of cryptocurrencies on multiple blockchains through centralized exchanges is unsustainable. Therefore, thorchain team has created an autonomous blockchain, which can bridge other networks and promote cross chain transactions. At the same time, it is also a decentralized exchange (DEX).
Thorchain is an independent blockchain developed with cosmos SDK, which promotes decentralized cross chain transactions. It operates in the mode of automatic market maker (AMM) and takes the native token RUNE as the basic exchange pair.
According to coinmarketcap, RUNE is currently trading at $8.38 and has created 26098% return on investment for early investors, making it one of the fastest-growing DeFi cryptocurrencies.
People will think that the debut during the cryptocurrency sell-off is almost fatal for a new cryptocurrency designed to establish its own name in the market, but then again, you may not be familiar with seesaw protocol (SSW).
SSW was launched in early April. After a record pre-sale, the token increased from $0.005 in the pre-sale stage to $0.306 at the time of writing, an increase of more than 6000%. Seesaw protocol is a decentralized, unmanaged ecosystem of DeFi products, services and use cases, spanning many chains. In addition, its application extends to meta space and NFTs.
Seesaw tokens will be distributed on the polygon (matic), Ethereum and BNB chains.Seesaw will provide comprehensive functions for users interested in managing cryptocurrency assets on the most prominent blockchain, using point-to-point exchange in a decentralized and open manner. In addition, seesaw protocol will provide users interested in deploying NFT or exchanging tokens on the platform with an NFT vault and DeFi exchange.
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Seesaw Protocol Contributes to Education in Developing Countries
The seesaw agreement will donate about 1% of its marketing expenditure to the education fund, which will fund educational institutions around the world, especially those in underdeveloped countries, to pay for the resources needed to provide necessary education.
In addition, when seesaw is traded, part of the transaction cost will be donated to the education fund to ensure that seesaw tokens continue to flow into the education fund. Seesaw token holders will be rewarded if they donate their tokens to the Education Fund for charity.For users interested in establishing NFT or trading NFT tokens on the platform, seesaw protocol will also host an NFT vault and a DeFi exchange.
Does it Deserve to Invest in Seesaw Protocol (SSW)?
SSW is now in its infancy and is likely to develop into a profitable agreement that will provide generous returns to early investors. It has brought a return of 60 times to its earliest pre-sale investors.
SSW tokens can now be purchased on pancakeswap (cake), one of the world’s largest cryptocurrency exchanges, or the project’s own seesawswap can be purchased on the project’s official website. The bulls are pushing SSW to the moon. Will you join this alliance?
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