DeFi Cryptocurrencies to Make You Rich - Gatmash

Cryptocurrency has truly breached the mainstream consciousness. Before last year, Bitcoin (BTC) was the only crypto-based term that most of us had heard of. Now, Ethereum (ETH), Dogecoin (DOGE), bull and bear markets, and NFTs are a major part of the discourse.

An emerging market that is potentially ready to change the direction in which crypto goes is DeFi. DeFi stands for decentralised finance and is at the crux of what makes cryptocurrency so exciting. Put simply, DeFi “removes the control banks and institutions have on money, financial products, and financial services.”

According to leading listings platform CoinMarketCap, the total market cap of DeFi cryptocurrencies exceeds $139 billion. Two of the largest DeFi crypto assets are Terra (LUNA) and Tezos (XTZ). The new DeFi kid on the crypto block is Logarithmic Finance (LOG); a project that hopes to join the likes of Avalanche (AVAX) and Chainlink (LINK) at the top of the DeFi tree.

Terra (LUNA)

Terra (LUNA) is a protocol that powers payment systems with stable coins like USDT. Terra, according to its developers, combines the existing global usage of conventional fiat currency with cryptocurrency’s flexibility, and decentralised nature. LUNA is one of the numerous cryptocurrencies that has demonstrated resistance to a variety of price movements as well as some market-wide downturns.

Terra’s proof of stake (PoS) approach consumes significantly less energy and hence has a lower environmental impact. This is unquestionably an advantage, but the protocol is not without risk. If the stable coins to which LUNA is tied fail to keep their value, the price of LUNA may become extremely unstable and plummet.

Tezos (XTZ)

Tezos (XTZ) is not dissimilar to Ethereum (ETH) in that its network is based on smart contracts. Tezos, however, wants to stand apart from its larger rival by offering a more advanced infrastructure, one that can evolve and improve over time.

In its 2017 presale, Tezos raised what was at the time a record $232 million. The developers behind XTZ claim it could be “the last cryptocurrency,” such is its innovation. XTZ reached an all-time high of $9.18 in October 2021. It is around 65% down on this at the time of writing, but in the eyes of many crypto gurus, it could challenge its own record by the end of the year.

Logarithmic Finance (LOG)

Logarithmic Finance (LOG) has lofty ambitions to be the next Terra (LUNA) or Tezos (XTZ). It white paper emphatically states that LOG is “a next-generation Layer-III swapping protocol carefully designed and built to promote seamless connectivity between early-stage innovators and investors.”

LOG will launch on the Ethereum (ETH) blockchain and in its presale phase, ETH will be required to purchase LOG. There will be 100 million LOG tokens on offer in total, with 50 million up for sale in presale. Any unsold tokens will be burnt, making Logarithmic Finance a deflationary token.

After launching on the Ethereum Network, Logarithmic Finance (LOG) plans to support many of the most popular blockchains like the Binance Smart Chain (BSC), Avalanche (AVAX), Polygon (MATIC), Tezos (XTZ), and Solana (SOL).

All across the crypto-sphere, early investment can often make serious money for investors. From Shiba Inu (SHIB), to Filecoin (FIL), forward-thinking investment, of which presales are the earliest, millionaires have been made. Is LOG next?