After working in proprietary trading for over a decade, I decided to transition to crypto in early 2017. Although crypto is significantly different from traditional capital markets, I managed to successfully find a niche for successful and opportunistic trading. While 2017 was the perfect time to get involved, the past few years have proven to be a bit more challenging as far as generating ROI.
Cryptocurrency traders have spent the past several years searching far and wide for the next big winner. While the market as a whole hasn’t been very bull friendly, one specific area that appears to be gaining traction is decentralized finance, more commonly known as DeFi. This area generally refers to the digital assets and financial smart contracts, protocols, and decentralized applications (DApps) built on Ethereum. The reason why so many crypto entrepreneurs are flocking to this space is that it allows them to create traditional financial vehicles in a decentralized network, outside the meddlesome control of foreign governments.
One extremely popular DeFi project is Chainlink (LINK) which is a decentralized oracle network that provides real-world data to smart contracts on the blockchain. Chainlink has seen its token price increase by more than 300% year-to-date. Another impressive project in the space is Kyber Network (KNC) which has seen its token soar from $0.20 at the start of the year to more than $1.60 at present. Kyber Network’s on-chain liquidity protocol allows decentralized tokens swaps to be integrated into any application, enabling value exchange to be performed seamlessly between all parties in the ecosystem. Chainlink and Kyber Network are just a few examples highlighting the excitement that crypto traders currently have for the DeFi space.
But given that many of these tokens have already had a big run, traders might be wondering if there are still opportunities to get in at a reasonable value. After having spent countless hours researching one project in particular, I have a strong feeling that WISE token could be set for a massive run in 2021!
What is WISE Token?
WISE is an ERC-20 token based on the Ethereum blockchain that is decentralized, transparent, trustless, and interest-bearing that features automatic liquidity.
The project is re-imagining decentralized finance by developing a complete and efficient financial ecosystem. Concentrating on generating interest through staking, the WISE smart contract earns money for investors from the safety and complete transparency of their own private wallets, while also supplying a massive liquidity pool in order to realize gains.
Staking is becoming extremely popular among crypto investors as it allows them to earn interest by locking up their tokens for a period of time. This is especially beneficial for long-term participants as they are earning by doing something they had planned to do anyway. And for short-term traders, staking certainly gives them an incentive to hold longer than they anticipated. WISE functions similarly to bonds and CDs but comes with enhanced security, liquidity, and superior profitability.
The WISE ecosystem through the WISE token will allow all participants to stake their funds in extremely low-risk smart contracts while maintaining complete control over their investment at all times. The ecosystem will serve 5 essential functions:
- Minting of new WISE tokens
- Earning referral bonuses
- Initiating and closing stakes
- Earning interest
- WISE token exchange
With regards to the last point, it’s important to mention that the ecosystem will work seamlessly with Uniswap, a very highly regarded decentralized exchange (DEX).
Now that you understand what WISE is, here are 3 reasons why I expect 2021 to be a big year for the token.
Reason #1 – The Best Referral System in Crypto
One really interesting component of the WISE ecosystem is that it will feature a dedicated referral program that allows users to earn bonus tokens by adding new users through their dedicated referral links. Platform users will be able to generate referral links by logging into their account and clicking the option to get the link. After doing that, the user can simply copy the link and begin sharing it through popular cryptocurrency channels such as Reddit, Telegram, and Discord.
The key thing to understand is that users don’t simply earn a 10% commission during launch. Rather, users will CONTINUE to be rewarded with residual income each and every time a new user stakes tokens through their specific link. As marketing and word of mouth build quickly over the coming months and years, referral bonuses could prove to be a windfall.
Reason #2 – Instantly Massive Market
The main problem with new projects is the lack of a market to sell new tokens. Who would want to own baseball cards if nobody wanted to buy them? The answer is nobody. The WISE contract will take the presale funds, put it on Uniswap, and lock it away. That will be an absolutely massive amount of money that users can count on so that anyone can swap out ETH for WISE and WISE for ETH. This feature really sets the WISE token apart from everything else currently available.
Reason #3 – Stability
Although the lack of a market is certainly the biggest problem with new projects, lack of stability is also a major issue, especially in DeFi. What typically happens is that as soon as new tokens get listed on Uniswap or other exchanges, bots and whales will immediately begin making large purchases which causes the price to rise dramatically and creates FOMO. For a while, the price will continue to surge but eventually the steam will run out and the price will crash. This results in a lot of frustration and anger from traders, especially those who had the bad luck of purchasing at or near the top.
This won’t happen for WISE because the project will have already sold 50 million tokens which will be in the hands of long-term holders. The people that accumulate WISE tokens at the start will be those who see value in the project long-term and won’t be interested in flipping for a quick buck.
Decentralized finance is one of the fastest growing areas within the cryptocurrency space. Lots of new exciting platforms are being built daily thanks to crafty entrepreneurs who see what the future can be. 2020 has already seen several tokens, such as LINK and KNC, dramatically increase in price thanks to the value both projects bring to the space. While those opportunities may have been missed, WISE is just beginning. I have a strong feeling that 2021 could be a big year for those who get in early on the WISE revolution.
XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.
NFTs are already being actively traded in markets globally. For…
Should Crypto Projects Devote Resources to Community Growth and Marketing?
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has been…