Here are the top 10 Altcoins that are making a huge profit on the Polkadot network
Let go of the story of the declining cryptocurrency market, let’s go to the story of Polkadot (DOT) – a project with the ambition to create the “Decentralized Web”, where our identities and data will be controlled by ourselves, not an organization or a government. Here are 10 coins that are making a huge profit on the Polkadot network.
What is Polkadot?
Polkadot (DOT) is a Network that connects individual blockchains. It allows these Blockchains to share data in a decentralized way. Similar to Cosmos Network, Polkadot (DOT) focuses on solving two main problems of Blockchain: Interoperability and scalability of the network.
Polkadot (DOT) ‘s vision is to create a “Decentralized Web” where our identities and data are controlled by ourselves, not by any organization or government. Basically, Polkadot is an open-source project and anyone can freely contribute to the development of the platform.
Outside of the open-source community, Polkadot is behind the Web3 Foundation – one of the leading organizations in the Crypto space. The Web3 Foundation contributes financially and technologically to Polkadot.
Here are 10 coins that are making a huge profit on the DOT network
#1: Rio DeFi (RFUEL)
First, let’s mention the Rio DeFi (RFUEL) with 59% profit in the last seven days. These are figures updated from CoinGecko, over the past seven days.
Rio DeFi is a blockchain technology company. The mission is to accelerate the mass adoption of digital assets by bridging traditional and decentralized finance. Rio Chain comes ready-made with a comprehensive suite of tools. The top exchanges for trading in Rio DeFi are currently BiKi, OKEx, BiONE, Uniswap (V2), and BitMax.
#2: Polkastarter (POLS)
The second place is Polkastarter. Polkastarter is a cross-chain decentralized exchange (DEX) built on Polkadot for token pools and auctions. The Polkastarter platform serves as a decentralized crowdfunding launchpad for up-and-coming crypto projects to raise capital and build a dedicated community. The environment that Polkastarter creates helps projects interact with each other simply and conveniently.
The POLS token is an internal token of the Polkastarter network. This token holder can enjoy the following features:
- Transaction fees: POLS tokens can be used to pay transaction fees on Polkastarter.
- Administration: users can use POLS to vote on the decisions made by the network, such as choosing the next project to support, features to develop, type of auction, etc.
- Staking: When staking POLS, users can receive rewards, access the pools, and participate in the administration.
- Liquidity mining: when contributing liquidity to pools on Polkastarter, users can receive rewards in the form of POLS.
Perhaps because of a clear operating model and tokens of practical value, POLS also gained 30% of profits on the Polkadot network.
#3: Chainlink (LINK)
An unexpected name on the list is Chainlink (LINK). In it, don’t forget the story between Polkadot and Chainlink. Specifically, Polkadot has become the latest Ethereum competitor to launch a decentralized finance alliance. And Oracle network Chainlink is among the alliance’s dividend members.
In another development, the top exchanges for trading in Chainlink are currently Binance, Huobi Global, Bybit, Binance.KR, and OKEx. According to statistics from Coin98 Analytics, LINK recorded a 28% return on the Polkadot network.
#4: ChainX (PCX)
ChainX transforms inter-chain assets in a unified way, and any chain can establish asset interoperability with all chains as long as it establishes a connection with ChainX. ChainX value user’s mining power based on the market value of BTC, DOT, ETH, ERC20, EOS, and other assets that user cross-chain deposit in. According to statistics from Coin98 Analytics, PCX recorded a 26% return on the Polkadot network.
TOP 10 GAINERS IN @Polkadot ECOSYSTEM.
— Coin98 Analytics (@Coin98Analytics) January 9, 2021
#5: Akropolis (AKRO)
According to statistics from Coin98 Analytics, AKRO recorded a 25% return on the Polkadot network. Akropolis is software enabling developers to launch decentralized applications that provide cryptocurrency-based financial services owned and operated by users.
#6: DefiCliq (CLIQ)
Ranked 6th is DefiCliq with a 24% return on the Polkadot network. For more information, DefiCliq is a cryptocurrency and operates on the Ethereum platform. The current CoinMarketCap ranking is #2600, with a market cap of not available. The circulating supply is not available and the max. supply is not available. The top exchanges for trading in DefiCliq are currently Uniswap (V2), Bithumb Global, and Bilaxy.
#7: Ocean Protocol (OCEAN)
Ocean Protocol was created in 2017 by BigChainDB founder, Bruce Pon, and AI and design expert, Trent McConaghy. Their goal was to take back control of big data from corporations like Microsoft, Google, and Apple, and instead allow it to be shared and monetized freely on an exchange. Ocean Protocol launched the OCEAN token in November 2017, along with its Marketplace Framework which outlines the market attributes and components necessary to deploy the decentralized Ocean Protocol data exchange.
By 2018, the Ocean Token was in pre-launch distribution with 3,500 contributors in 100 countries. Ocean also launched an Advisor Program, with 40 advisors in 20 cities, and announced a partnership with IBM Watson AI XPRIZE. In March 2020, Ocean Protocol launched a decentralized marketplace, customizable for data providers. By its latest round of funding in May 2019, Ocean Protocol had raised over $28 million.
At present, according to statistics from CoinGecko, OCEAN recorded a profit of 20% in the past seven days.
#8: Stafi (FIS)
Stafi (short for Staking Finance) is a DeFi protocol that aims to unlock the liquidity of staked assets. STAFI Protocol solves the contradiction between the token liquidity and Mainnet security by issuing ABT tokens, which provide the liquidity of your Staking Assets. ABT token increases the staking rate to a higher level (100%, theoretically), and it could be tradable, its security is guided by STAFI Protocol which ensures ABT token is the only collateral that can apply to redeem staking assets from original staking blockchain ( Tezos, Cosmos, Polkadot, etc,.).
The top exchanges for trading in Stafi are currently Huobi Global, BitMax, Hotbit, and Hoo. Ranked 8th is Stafi with a 19% return on the Polkadot network.
#9: Edgeware (EDG)
Edgeware is a self-improving smart contract blockchain built on the Polkadot ecosystem, utilizing Wasm to enhance its self-upgrading features. In there, EDG is a native currency on the network with a capitalization of five billion tokens. The tokens have a 20% inflation rate in the first year. The inflation rate decrease year after year with the possibility of conducting community engagement on whether to change it.
With a model like that, EDG recorded 18% of profits over the past seven days, based on statistics from CoinGecko.
#10: MANTRA DAO (OM)
Mantra DAO is a Decentralized Autonomous Organization (DAO) built on the Parity Substrate for the Polkadot ecosystem, focused on staking and lending. It also features more community governance functions through its native OM token. And this is also the last position in the rankings, with 15% of the profits gained from the Polkadot ecosystem.
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