According to recent estimates, the revenue of the global cryptocurrency segment is expected to cross $37.87 billion by the end of 2023. A part of the credit for the crypto success story also goes to crypto enthusiasts who are opening up to more innovative projects. Take the example of DigiToads, an Ethereum-based meme coin that also operates as a play-to-earn platform, which has raised over $1.1M in its presale stage. The hybrid model has enabled DigiToads to garner a global following and many Cosmos and Monero holders are switching to it. Let’s explore some of the most important features of this new crypto project.
DigiToads: Minting new gains with a dynamic DeFi model
DigiToads is a utility meme coin wherein users can potentially earn passive income by participating in an interactive Web 3.0 game, stake assets, and win monthly rewards for their participation. Its native token TOAD will be made available for sale in multiple presale stages. The TOAD token is a deflationary cryptocurrency which means that its tokens are burnt at regular intervals to purposely keep the supply limited. A scarce supply of tokens helps to curb price fluctuations and also keeps the token value stable.
The play-to-earn game offered by DigiToads requires users to compete with other players with the help of digital creatures called DigiToads. To acquire one of these creatures, players have to buy or trade them. They can also win them in contests organized by the team. Each of these creatures possesses a special set of characteristics that can improve a player’s shot at winning the game. Additionally, they can buy training equipment, food, and potions for their DigiToad using TOAD Tokens. The team allocates 50% of the sale proceeds from these items for maintaining the prize pool. At the end of every month when the DigiToad season ends, the highest scorers are announced as winners who get rewarded with TOAD tokens.
What makes it one of the best new cryptocurrency tokens to invest in is its rewards system and focus on community members. Community members have the leeway to participate in its governance and TOAD holders are eligible for monthly rewards. You can also earn rewards and an opportunity to manage a part of DigiToads’ treasury via its trading competitions. The user managing the highest volume of trade in a month will be declared the winner of these monthly competitions and be rewarded with a Platinum Toad. The Platinum Toad gives the winner remote access to 1/12th of the treasury.
USDC launched on Cosmos IBC protocol
Cosmos is an open-source platform that offers next-generation tools to developers for creating sovereign blockchains that are interoperable. Its native token is ATOM. It has been instrumental in addressing issues that many independent blockchains face while transferring data. Cosmos owes its ability to seamlessly transfer assets and data to the Inter-Blockchain Communication (IBC) Protocol. One of its much talked about features is its staking mechanism whereby ATOM token holders can secure their chain by locking their assets and earning a transaction fee in exchange. In a recent development, Cosmos announced that USDC will be available on its platform via the Noble network. The popular stablecoin will be available for all 50+ blockchains that comprise the IBC protocol.
Monero’s XMR Token to be available on Cake Wallet
Monero is a privacy-centric blockchain network for making online payments using cryptocurrencies. Its native token XMR is used for staking and other similar transactional uses. The platform was rolled out in 2014 as a Bytecoin fork. Over the years, it has evolved as an open-source project and is currently being maintained by a decentralized community of developers. To offer unparalleled security and privacy, Monero leverages different technologies like stealth addresses and ring signatures. Monero has recently announced that its users would now be able to purchase the XMR token via the Cake wallet.
Conclusion
Given recent developments, Digitoads could also be particularly interesting to Cosmos and Monero holders. Additionally, Digitoad’s ability to balance versatility with utility and a dynamic set of passive income opportunities makes it a crypto to look out for. Some analysts claim that the TOADS crypto currency may have the potential to offer gains in the long-term.
For More Information on DigiToads visit the website, join the presale or join the community
This post was authored by an external contributor and does not represent Benzinga’s opinions and has not been edited for content. This content contains sponsored advertising content and is for informational purposes only and not intended to be investing advice. Cryptocurrency is a volatile market; do your independent research and only invest what you can afford to lose. New token launches and small market capitalization coins are inherently more risky than large cap cryptocurrencies. These tokens are subject to larger liquidity and market risks.
