Understanding Ether (ETH)
Ether (ETH) serves as the Ethereum blockchain’s native cryptocurrency and the leading altcoin worldwide. It facilitates online transactions for goods and services and covers blockchain transaction fees. Holding ETH is essential for participation in the Ethereum ecosystem. Following the switch to proof-of-stake, ETH can no longer be mined, and users earn rewards by staking their holdings.
Exploring Immutable X (IMX)
IMX is an ERC-20 token supporting the Immutable X protocol, a layer-2 scaling solution for Ethereum. Launched in 2018, IMX has steadily gained value. Holders can stake IMX to secure the network and participate in governance decisions, shaping the protocol’s future. Additionally, it is used for transaction fees on the blockchain.
Polygon (MATIC): Ethereum’s Scaling Solution
MATIC, an ERC-20 token, powers the Polygon network, often described as Ethereum’s network of blockchains. It facilitates connectivity among Ethereum-based projects while leveraging Ethereum’s security. MATIC secures and governs the Polygon ecosystem. Known for its fast, low-cost transactions, Polygon’s appeal continues to grow, bolstered by significant partnerships like Instagram’s recent collaboration.
AAVE: Decentralized Lending and Borrowing
AAVE incorporates EIP-2612 for gas-free transactions and supports the AAVE DeFi protocol. This platform facilitates decentralized borrowing and lending without intermediaries. Initially launched on Ethereum, AAVE has expanded to other blockchains like Avalanche and Fantom, known for their low fees and speed.
Basic Attention Token (BAT): Redefining Digital Marketing
Launched in 2017, BAT addresses inefficiencies in digital advertising. It works with the Brave browser to connect advertisers, publishers, and users, ensuring mutual benefits. Advertisers enjoy lower costs, publishers earn more, and users gain privacy and relevance. Brave Ads allow users to earn BAT for engaging with content.
Curve DAO Token (CRV): A Stablecoin Powerhouse
CRV powers Curve, a leading DeFi project specializing in stablecoin exchanges. The token incentivizes liquidity and participation in governance. Curve offers stability and lower fees compared to other AMMs, though yield farmers may find returns less competitive.
Euro Tether (EURT): A Reliable Stablecoin
EURT, pegged to the Euro, is among the top 15 stablecoins globally. Issued by Tether Limited, it maintains a value of €1. EURT enables blockchain transactions with reduced exposure to market volatility, offering an alternative to centralized financial systems.
Loopring (LRC): Hybrid Exchange Protocol
LRC supports Loopring, an open protocol for building decentralized exchanges. Released via ICO in 2017, the protocol launched in 2019. Loopring combines the benefits of centralized and decentralized exchanges, offering efficiency and unique features. LRC can be mined or purchased on major exchanges.
Lido DAO (LDO): Simplifying Staking
LDO, Lido DAO’s native token, supports Ethereum staking without minimum deposits. Users can stake ETH while engaging in on-chain activities like lending. LDO also grants governance rights and manages ecosystem fee structures.
Optimism (OP): Accelerating Ethereum Transactions
Optimism, a scalable layer-2 solution, enhances Ethereum’s capabilities. The $OP token grants governance rights and was distributed to early supporters via an airdrop. Transferring assets between Optimism and Ethereum can take several days, reflecting ongoing network improvements.
Disclaimer: Cryptocurrencies are highly volatile and may not suit all investors. Only invest what you can afford to lose. This guide is for informational purposes only and not financial advice.
