CoinList added pSTAKE token on its platform – market wrap
CoinList, one of the largest exchanges worldwide, announced that it would add the pSTAKE Token on its platform. pSTAKE is the relatively protocol that unlocks liquidity for users’ staked assets. Thanks to it, investors and traders will be able to stake their assets, participate in protocol improvements, and even secure the network to earn staking rewards. Moreover, they will receive 1:1 pegged staked tokens. Customers can use the latter to explore opportunities across Defi.
The token sale will begin on December 16. Twenty-five million PSTAKE tokens will be available for purchase for the price of $0.40 during the initial coin offering. Token holders will have a chance to mint or stake on pSTAKE and get invitations to the priority queue. This is an invite-only queue for token sales. It runs parallel to the main queue and is significantly shorter than the main token sale queue.
According to the team, pSTAKE is a liquid staking protocol created specifically for Proof-of-Stake (PoS) based assets. It allows the holders of staked assets to earn rewards while simultaneously maintaining the liquidity of their assets. The company will issue staked tokens for all assets staked via pSTAKE. The platform utilizes a custom bridge to tap into the growth of the Cosmos ecosystem. It also has access to the composability and liquidity of Ethereum.
Why is pSTAKE a good choice?
CoinList chooses to list this token on its platform for several reasons. The main one was that the pSTAKE protocol uses an inter-blockchain bridge. This ‘pBridge’ facilitates the transfer of value between various blockchains, including Ethereum, Persistence, and Cosmos. Other blockchain bridges only allow the creation of pegged tokens, while pBridge enables users to stake and unstake at the protocol level on the respective native chain.
Furthermore, the platform utilizes the dual token model. It simplifies staking and rewards mechanisms for customers while also mirroring the exact workings of the PoS networks. The team explained that pTokens are 1:1 pegged ERC-20 unstaked tokens. They only represent unstaked tokens on the underlying PoS network and copy the functionality of that network. Traders will be able to stake their pTokens with pSTAKE and, as a result, mint stkTokens. The latter are 1:1 pegged staked tokens. Moreover, stkTokens accrue staking rewards in pTokens which customers can use in the broader Ethereum Defi ecosystem.
According to the company, all issued stkTokens are fungible in nature. To achieve this fungibility, the team delegated assets staked on the respective PoS networks evenly across the validators participating in the pSTAKE protocol. pSTAKE token holders will govern the proportion of stake distribution after the token launch.
What Is BICONOMY?
Biconomy is a Defi project that provides plug-n-play APIs to make Web 3.0 user-friendly and frictionless. The company aims to make the decentralized web accessible to everyone. It plans to make crypto adoption much easier. Biconomy’s SDKs and APIs transform any dAapp to become usable for any customer regardless of their Defi knowledge and experience. Furthermore, the company’s infrastructure processes almost 50K daily transactions for more than 70 DApps. Thus, it ensures that the customers will receive all the benefits of web3.0 along with the intuitiveness of web2.0.
Biconomy will launch its native token BICO soon. It plans to begin the sale on the CoinList platform. $BICO is the governance token of this multi-chain relayer infrastructure. It plays a key role in decentralizing the network. Token holders will be able to pay the network fees with BICO. The team will incentivize all stakeholders to secure and maintain the network with this and other benefits. Besides, users will be able to participate in the network’s governance and have a say in its development. The total supply of BICO tokens is 1 billion, but not all of them will be available for sale at the first stage.
The TFS token’s ICO will start soon. What does it offer?
TFS token is new digital crypto that attracted investors’ attention due to its interesting features and platform. Customers will be able to use it within the well-established ecosystem of Fairspin. The latter already boasts more than 300.000 registered users. The company plans to launch the token on December 14, 2021. The sale will end on December 15, 2021. The token’s price will be $0.006000 during the initial coin offering. The team aims to raise $200,000 with the sale.
Fairspin offers various exciting features, including Hold To Earn and Play To Earn mechanisms. Hold To Earn is a traditional staking model. In this case, Fairspin’s platform will share its daily income with its participants. This program will enable users to profit by simply holding the TFS tokens.
Play To Earn is a tokenized cashback that the players get as a reward for playing. Every registered Fairspin user will become the owner of the crypto by playing exciting games. Moreover, the platform provides a unique and easy way to enter the crypto market. Players will have to use the received TFS as a cashback for games.
Many tokenized cashback games are already available on the platform, including Bingo, Baccarat, Black Jack, Instant Win Games, Casual Games, Keno, Live Dealer, Poker, Scratch Cards, Live Lottery, Live Baccarat, Lottery, Sic Bo, etc.
Besides, all programs on Fairspin are interconnected. The team designed them in such a way to help the users to get even more benefits. Players can multiply the tokens received in the Play to Earn program in the Hold To Earn program.
What makes this platform stand out among other similar ones?
While standard platforms typically provide cashback in players’ currency once a month or a week, Fairspin will instantly send its users their TFS tokenized cashback. Token holders will be able to withdraw the received TFS to the balance or put the received tokens on the holding to multiply them.
A BuyBack model is also centered around both Play to Earn and Hold to Earn Programs. The supply of TFS tokens isn’t limitless; thus, it needs constant replenishment. That’s why the platform plans to purchase the TFS tokens back through the exchange or players directly. As a result, it will replenish the supply and limit the overall amount of tokens offered. The team expects such action to impact the token’s price positively.
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