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5 Best Terra Luna wallets

Best terra luna wallets
Best terra luna wallets

5 Best Terra Luna wallets for 2022

The Terra blockchain is a project founded by Daniel Shin & Do Kwon. The crypto has blown up in recent times and seems to offer one of the highest yields on stable coins through Anchor protocol and UST. To benefit from this high yield you of course need a Terra wallet. So in this post, we share our 5 best Terra wallets for you!

What is Terra Luna?

The Terra Luna blockchain is a strong and growing blockchain ecosystem built with the Cosmos SDK. Terra focuses on providing stable coin solutions to anyone for a good price. While at the same time improving the payment industry.  

Terra brings these things to you with their dual token system. Which include the Luna token and the UST stable coin. Terra makes UST stable via an algorithm that trades between Luna and UST. But besides the UST stable coin, the Terra blockchain also hosts a variety of decentralized applications that can use UST and Luna for any type of transaction.

This dual system on their proof of stake blockchain makes it easy to use the financial payment features with stable coins without the risk of holding a volatile asset. But also gives investment opportunities to people that hold the Luna token if they desire to invest in the protocol. 

This includes Defi Swaps, Lending, and NFTs on the Terra blockchain. With high-interest rates on Dapps like Anchor of up to 20% APY. On top of their usual smart blockchain applications, Terra also functions as a payment provider with fees capped at 1%. So merchants will never pay the ridiculously high fees charged by legacy payment providers of 2-3%.

Check out the Terra Money website here.

But now let’s take a look at the 5 best Terra Luna wallets for 2022!

leap wallet banner

1. Leap

On our number one spot for Terra wallets, we have listed Leap wallet. Leap wallet aims to be the super wallet for the Terra ecosystem. They aim to do this by providing wallet services that promote more than just simply making crypto transactions. The goal of their wallet is to incentivize the use of the full Terra ecosystem. Including Dapps, NFTs, and blockchain games.

They achieve this with many of their in-wallet Dapp integrations. And also with direct fiat onramps. So users will not have to go through any exchanges or other loops before they can participate in the Terra blockchain ecosystem.

Leap has an active team of developers behind it. And also has many upgrades planned for the future. Like integrated NFT marketplaces, NFT galleries, and in-app cross-chain bridges. For ultimate use of the system. 

Features:
  • NFTs
  • In wallet Swaps
  • Dapp integration
  • Staking
coin98 wallet banner

2. Coin98

In second place we find Coin98. Coin98 wallet is known as an all-in-one Defi platform that lets its users connect to Defi applications on many different blockchains. This of course can not miss the Terra Luna ecosystem. As they support 50+ blockchains and hundreds of thousands of users. 

Coin98 not only offers a wallet service but also has its own crypto wallet token. That opens up extra features for users of their products.

Features:
  • NFTs
  • In wallet Swaps
  • Dapp integration
  • Staking
  • Decentralized Exchange
  • Own crypto token

trustwallet banner

3. Trust

In third place we find the by Binance supported wallet, Trust Wallet. Trust finds itself among the best wallets in the world for any blockchain. With millions of users from all sorts of blockchain networks. From Bitcoin to Avalanche. Trust wallet seems to be the wallet of choice for many users and also supports the Terra blockchain. 

Trust wallet comes with a super UX & UI. Making it a good wallet for those that are new to crypto. A great design might help them understand the space a bit better. But for any experienced users this can of course also always be nice. 

Trust wallet also comes with its own crypto token called TWT which offers you some extra benefits within the Trust wallet ecosystem.

Features:
  • NFTs
  • In wallet Swaps
  • Web3 browser
  • Staking
  • Own crypto token
  • Already trusted by millions
trezor hardware wallet banner

4. Trezor

In 4th place, we find the hardware wallet Trezor. Trezor is known in the crypto space as one of the strongest hardware wallets around with support for almost every blockchain. Including Terra of course. 

If you like to keep your privacy and freedom. You will probably want to keep custody of your assets yourself. And if you do you would want to secure those assets. The best way to do so is always with a hardware wallet that you store in a safe location. 

With Trezor you can enjoy the Terra blockchain while at the same time keeping your tokens as secure as you can. While at the same time staking your tokens or letting your UST earn interest on Anchor Protocol.

Features:
  • Staking
  • Security of a hardware wallet
  • Multi-chain safekeeping

xdefi wallet banner

XDEFI

Last but not least we have XDEFI in 5th place. XDEFi is known as the wallet that aims to improve upon the Metamask wallet. One improvement they have made for sure is their addition of blockchains that do not run an EVM. With support for blockchains like Bitcoin, Solana, and of course Terra. 

Besides adding the Terra Luna chain to XDEFI. They also plan for the creation of a liquidity program on top of Terra in partnership with the Pylon DeFi protocol. The program aims to support debut projects on the network’s ecosystem and bring community governance plus more opportunities.

The integration of Terra within the XDEFI wallet provides LUNAtics with a good browser extension wallet for their desktop. This makes it much easier for Terra users. An opportunity that some wallets miss out on. 

Features:
  • NFTs
  • In wallet Swaps
  • Staking
  • Own crypto token
  • Supports EVM and non-EVM chains

F.A.Q.

Why is Terra buying so much Bitcoin?

Terra has announced that it would buy up to 10$ Billion worth of Bitcoin. This is meant to be used as a reserve for all the stable coins created by the network in combination with its algorithm. This move will make the stable coin not only algorithmically backed but also secured by the strongest crypto asset in the world.

How to stake Luna token?

You can easily stake your Luna tokens by withdrawing your tokens to Terra station wallet. Then go to the staking tab and choose the validator that you would like to stake your tokens. Now your Luna tokens are staked it is time to earn some interest with the staking rewards!

Where to buy Luna?

You can buy Luna in many places. As it is/was in the top 10 cryptocurrencies, almost any crypto exchange has added it to its platform. So simply go to Binance, Kucoin or Bitfinex to trade/buy Luna.  

Where to earn interest on UST?

You can earn pretty high-interest rates on the UST stable coin. With rates between 10% and 30%. You can find this at centralized entities like NEXO or decentralized protocols like Anchor. 

Can Terra host other Dapps?

Yes, it definitely can. The Terra blockchain is already hosting many famous blockchain Dapps, like Anchor and Mirror protocol. But has the capability to also host other blockchain applications for games, NFTs, Trading, Earning interest, and many other use cases. 

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So we hope that this post has helped you find a Terra wallet. But if you still did not find the best wallet for you. You can go to our wallet finder page and find a wallet for you. So you can enjoy the new web3 world to the fullest. 

If you have a request or question for the next blog on our website. You can contact us on our social media. So we can keep on delivering the best quality content for you!

Does cryptocurrency pay dividends?

Does cryptocurrency pay dividends
Does cryptocurrency pay dividends

Does cryptocurrency pay dividends?

No, cryptocurrencies do not pay out dividends but can earn interest as they do not function as traditional stocks of companies. In this blog, we take a better look at why crypto does not pay dividends and how you can still earn by just holding on to your digital coins.

In the world of crypto, we can earn interest and gain on our crypto by holding it. We usually revert to this in other terms. By using terms like Staking, Earning interest, and in some cases dividends. When we revert to staking we usually talk about the rewards earned on-chain by locking up a blockchain’s main token to maintain security and the value of its token. Earning interest revers to earning interest by either lending out or providing liquidity to whatever person or project in the crypto space. And dividends revert to the payout of a part of the profits a company has made. 

Staking rewards, not dividends

So you probably have seen many APYs (Annual Percentage Yield) on either centralized exchanges or lending platforms or Dapps. This yield comes often from either staking rewards or liquidity/lending rewards. But never from dividends. This is because if a token would payout company dividends that would mean that that token fall under the security law. And the token/coin thus is a security. When it comes to securities and the payout of dividends there is a whole book of regulations and laws that come into play. Where you will have to register and comply with KYC and AML regulations. 

This is all a lot of work and makes it only more difficult to work with. Luckily most crypto projects work in a different way and let you either lend out your coins or participate in the on-chain governance by staking tokens. These so-called staking rewards that are paid out to you then are not made up of company profits bet rather come from the blockchains inflation or transaction fees. 

Dividends paying tokens

You do however have some dividend-paying cryptos. These cryptos would be classified as securities as a company asset paying out profits would fall under that category. Not many of these tokens currently exist and the once that do are usually representatives of direct company stocks. Which would classify them as a form of digital shares. But with the functionality of a blockchain token.

Will dividend paying tokens be classified as securities?

Yes, stocks that payout dividends will probably sooner or later be classified as a security. Meaning that you will only be able to trade them on specific exchanges after you have passed KYC and AML. And the exchange is compliant with all the securities laws. This does remove the idea of decentralization from the tokenized stocks as it is then all controlled by central entities. 

Crypto dividends through crypto stocks

If you do decide to hold crypto stocks and want to earn your dividends. You will have to make sure that you comply with all the necessary rules. Payouts to crypto stocks could be frozen or not paid if the holder of these crypto stocks does not identify themself or does not hold the stocks in the “right” place. 

How these dividends will be paid is also the question and could diver per share. Normally you would have the choice between a fiat currency or more shares of that company. But in the case of a crypto share, you could also be paid out in other (crypto)currencies if the company or platform wants to offer you that option. 

Crypto stocks

In the last years, many crypto stocks have also gone up for trading on the Nasdaq. With stocks like Coinbase, Riot, Microstrategy, Tesla, and many others that work with or hold cryptocurrencies. If investing in crypto businesses is your thing, you could hold these stocks. And if they pay you a dividend from their profits that would provide you with a crypto company dividend. However, currently, not many of these companies pay out dividends to investors. As these companies usually prefer to spend their profits on more BTC or the expansion of their business. 

earn interest on your crypto

Earn interest on your crypto

One other way to make your crypto work for you would be by just earning interest on your crypto through providing liquidity/lending it out. Many platforms like NEXO and Coinloan offer these features. Making it easy to earn some yield for yourself. So you can make your Bitcoin grow

You could also do this in a non-custodial way if you value your privacy a bit more. With platforms like Aave, compound, PancakeSwap, and many more that let you earn decent yields on many different cryptos. For this, you will need a wallet like Metamask so you can connect to web3 applications on multiple blockchains. 

Crypto performance payout

One way many crypto tokens provide a yield for their token holders is also by sharing the performance payout. What we mean by this is that they share (a part) of the fees that are made with the token to their token stakers. One good example of this is the Chain Games token that charges the users of the Chain Games platform a fee, which is then partly paid out to their token stakers via a smart contract. 

This way holders of the token can benefit from the performance of the platform without holding control of the company that originally created it. 

One other good example is through staking mainchain tokens. When you hold BNB on the BNB Smart Chain for example. You will not be paid out anything if you do not stake the tokens. However, a part of the transaction fee will be burned with each transaction. Making the BNB token deflationary. And thus slowly increasing the value over time (as long as there is a demand). This is not a dividend but it does link the value of the token to the performance of the blockchain. So you can reap the benefits of that blockchain. 

You can add BNB Smart Chain to Metamask if you want to start using it.

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We hope you now understand if cryptocurrency pays dividends, and how you can earn some money with your coins. If you have any other questions for us, feel free to reach out on social media. And do not forget to check out our library of crypto articles.

Will my Bitcoin grow in my wallet?

will my bitcoin grow in my wallet
will my bitcoin grow in my wallet

Will my Bitcoin grow in my wallet?

It could but it highly depends on how you few that growth. In this article, we answer the question “will my Bitcoin grow in my wallet?”. We go over how BTC gains value and how it can increase by just holding it. So let’s dive right in. But remember that nothing here is financial advice.

To start yes, Bitcoin will grow in your wallet over time. But maybe not in the way you think it will. The way Bitcoin is constructed it will always gain value over time against an inflationary fiat currency. 

This means that your BTC should grow when measured against a fiat currency over time. So this will not happen in a day or a year. As you might have seen, Bitcoin can be super volatile. So it goes down as well at times. But the general trend should mathematically always go up. If you look at it from this point of view. BTC will grow from just sitting in your wallet. 

However, if you look at it from a pure crypto perspective it might not grow or shrink at all. Because the one BTC you bought yesterday will still be the exact same 1 BTC 10 years from now. Meaning that measured in BTC there is no value change.

Why is this important?

Well, as Bitcoin does not inflate against its original 21 million points. Its real value should only be defined against its own stake in the network (1 of the 21 million). This will never change and thus makes 1 BTC stagnant in value. If you would then want to gain value on your BTC, you would have to find a way to earn more BTC with your current holding. 

How does cryptocurrency gain value?

When we look at the value of a cryptocurrency compared to a fiat currency like the dollar or euro. We will always look at the individual trading price and the whole market cap. Cryptocurrencies can simply gain value when more people buy into them. By selling their fiat for crypto.

Reasons why people do this vary and we won’t go deep into that for now. But as people always trade back and forward the price constantly changes with the demand for crypto. Many cryptos have their own use case which gives them value and drives their demand. But with Bitcoin (and some others) it is very simple. The (Bitcoin) currency does not have inflation. So its demand as of now mostly comes from the fact that people buy it to not lose their value against inflation. Which happens a lot in almost all fiat currencies around the world.

Besides as a store of value Bitcoins, demand also comes from some other use cases including as a payment network and computational layers build on top of it. Although this works already great with Bitcoin’s lightning network and layer 2’s that allow for Bitcoin Defi. It seems that the main purpose of BTC at the moment is to fight inflation. 

do you need a non custodial wallet to earn interest

Do you need a non-custodial wallet to earn interest?

No, not really. There are many ways to earn interest on your Bitcoin. From centralized to non-custodial ways. Or by bridging BTC to another blockchain to use it in DeFi Dapps there. 

But please watch out that you don’t just send your BTC to Metamask or any other blockchain address to use it on there. Read about that here.

If you want to increase the value of your BTC in BTC. You could lend out your BTC in several ways. Whether the purpose of the loan there seems to be enough demand for BTC to earn you some nice interest on it. One way to do so is by sending it to a centralized platform like NEXO. Here you get paid out daily in either BTC or NEXO tokens. 

If you prefer to not keep your Bitcoin with a central entity. You could also use it on the Stacks sidechain. Here you can use a large variety of Defi protocols that let you earn interest on your Bitcoin. But if you do not find enough DeFi Dapps or liquidity there you can always bridge Bitcoin to another blockchain. If you use the Ren Bridge for example. You can have RenBTC on Ehtereum and use it across all Ethereum DeFi Dapps. 

Crypto store of value

Cryptocurrencies get much of their value from the store of value perspective. This is understandable with the high level of inflation going on around the world. Even a not project with not that much traffic but no inflation is a better hedge than just holding dollars without receiving any interest. But with blockchains like Bitcoin that are basically indestructible, you could simply enjoy the store of value aspect at no cost. 

As the world spirals more and more towards a higher level of inflation as a norm. The number of people that flee into cryptocurrencies like Bitcoin will most likely increase. This will surely push the price up. But you can not guarantee that. Even tho Bitcoin works as an inflation hedge. 

If you hold Bitcoin and you want to really let it gain in value. You could simply hold and wait. But earning interest with platforms like NEXO would also increase your stack. Doing both at the same time could put you on top. 

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We hope to have answered your question with this blog. And that you are now prepared and educated enough to get the full potential out of Bitcoin as a global store of value. In case you have any other questions you would like us to answer. Just reach out to us on our socials. And do not forget to follow us on Twitter, Telegram, and all the other places. 

Can I send Bitcoin to Metamask?

Can I send bitcoin to Metamask
Can I send bitcoin to Metamask

Can I send Bitcoin to Metamask?

To answer this question simply, no you can not. If you would send your Bitcoin to any Metamask address this would either end up in a failed transaction or a complete loss of your BTC. 

You of course do not want this to happen. But you still might want to use your BTC on your Metamask wallet, on either Ethereum, Solana BSC, or any other EVM blockchain. Although sending BTC to Metamask directly is not possible. There are ways for you to use your Bitcoin in Metamask wallets and on other blockchains. 

In this article, we take a look at how you can hold Bitcoin, but also Litecoin, XRP, Dogecoin, and many other chains on an EVM crypto wallet like Metamask. Which all comes down to the same process.

How to use Bitcoin on Metamask

As mentioned before, you should not send your BTC to Metamask directly. But that does not mean you can not get it on there at all. You see, BTC runs on its own blockchain called the Bitcoin blockchain. Transactions on Bitcoin can only be sent to a Bitcoin address. This goes the same for other blockchains like Ethereum. As Ethereum transactions can only be sent to Ethereum addresses. Sending transactions between these networks would be like trying to pay with Brasilian Reals in China. It will not be accepted but you could convert from one to another if you would like.

This works similarly with blockchains. You could convert from one to another. But if you do not want to trade your BTC for ETH you could also bridge or wrap your BTC. This would mean you have to lock your BTC in one place and then bring it onto the Ethereum blockchain as a new token that represents the BTC locked on the Bitcoin chain. This can be done in a custodial way and a non-custodial way. With Wrapped BTC ($WBTC) as a custodial example and $RENBTC as a non-custodial version. 

Both can be used on the Ethereum blockchain and represent a 1-to-1 peg with 1 BTC. Once you have (a part of ) this token you can use it on your Metamask wallet and transact with it as an ERC-20 token. Which if desired can also be bridged to other EVM (Ethereum Virtual Machine) blockchains like BSC, Avalanche, Celo, and many others. 

What blockchains can I use on Metamask?

If you use the famous Metamask wallet you can integrate it with any EVM blockchain out there. You can simply click add custom blockchain and add the details of BSC, Avalanche, Cronos, Arbitrum, Optimism, Klaytn, and many others. Click on the names to see how to add that specific blockchain to Metamask.

Many Proof of Work blockchains like Dogecoin, Litecoin, Bitcoin Cash, Monero, and Zcash can not be added to the wallet as they do not run an EVM on their blockchain. If you ever see anyone holding these blockchain assets on an EVM wallet, that means they have it as a wrapped token. 

As wrapped tokens, these coins can exist on EVM blockchains and also interact with the whole DeFi ecosystem on them. Giving them new use cases outside of their own crypto network. 

We here at Yada have written a whole deal about Metamask and how to add other blockchains to it. If you are curious about all the blockchains it supports you can check them out on the Metamask wallet page on our site.

Besides that, we also did an extended review of the wallet. So you know exactly what you are up to.

Other wallets that support both Bitcoin and Ethereum

If bridging tokens or pegging tokens from Bitcoin to Ethereum is not your thing. For whatever reason you have. You can always just go for a wallet that supports both Bitcoin and Ethereum or any other blockchain that you like to use, that Metamask does not support. 

You can find a crypto wallet like that by using our wallet filter page. Just simply select the blockchains you want in one wallet, and the filter will display which wallets offer support for all those blockchains at the same time. So you never have to worry again about not having all your crypto in one place. 

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We hope this article taught you something new and answered your question “Can I send Bitcoin to Metamask?”. If you are still stuck with some questions or have another question you want us to answer in a post feel free to reach out to us on our Twitter or other socials. 

What is Cat Girl Coin?

CatGirlCoin
CatGirlCoin

What is Cat Girl Coin?

Cat Girl coin (CGC) is the hot token for Cat Girl and anime lovers. The token $CATGIRL works as the centerpiece around the Cat Girl NFT and play to earn ecosystem. 

Holding $CATGIRL will give you as a fan access to unique CGC NFTs, and staking options to earn their other ecosystem token $PAW.

With these traits, the team behind $CATGIRL is trying to bridge the gap between anime and the blockchain world. By making everyone’s favorite creatures live on the BNB Smart Chain.

Cat Girl NFTs

The most exciting piece in their ecosystem is the NFTs that they launch on a seasonal base. Each season you will be able to buy cool NFTs. These NFTs will never be the same and have unique features that fit that current season. 

Cat Girl NFTs come in 5 different rarities:

  • Paw-some – 0.01%
  • Legendary – 1%
  • Epic – 3%
  • Rare – 10%
  • Common – 85.99%

Each NFT has its own Nya score. The rarer the NFT the higher the Nya score. But you can also give them a higher score with many different types of wearables.

Cat Girl Swap

If you are already in possession of some BNB or BUSD. But do not yet have any $CATGIRL, you can get some via the CatGirlSwap. Which utilizes PancakeSwap V2 in the back. Here you can buy the token without high slippage and also contribute to the WBNB/CatGirl liquidity pool. 

If you hold your coins in this pool you will also be eligible for earning $PAW. Which will make your rewards even higher when you will stake your Cat NFTs in the future. 

Although $CATGIRL is super cool, we are not financial advisors, and nothing in this article should be seen as financial advice. 

Cat Girl Games

As blockchain games have proven themself to succeed time and time again. CGC also aims to bring their NFTs into the blockchain gaming space. With their own CGC games. However, their are not yet any detailed layouts of what these games will look like. One thing is certain. They will feature the CGC NFTs. Make use of $PAW & $CATGIRL. Plus the NFTs and wearables will play a huge role in it. 

What the games will exactly look like, we do not know yet. But one thing is certain holders of CGC will benefit not only in the game. But also from the traffic, the game will create. 

On what blockchain does Cat Girl run?

The CATGIRL token was originally created on the BNB Smart Chain. It is still mostly on BSC as it finds most of its liquidity on BSC and its trading volume on PancakeSwap. As the coin still has a relatively small market cap it will probably not move to other chains soon. Because to make the token useful on multiple blockchains it will need to have enough value on each individual blockchain. 

However, if CATGIRL’s market cap increases in the future it could potentially move to other blockchains. To see it added to other DEXes like UniSwap on Ethereum and SpookySwap on Fantom. 

Add CatGirl to Metamask

Once you have some $CATGIRL, you want to add the token to your Metamask. To do so you need to first connect your wallet to the BSC. If you haven’t done that yet, click here to see how you can do that. 

After that, you can go to your Metamask click “import tokens” and add the following data, like in the picture. $CATGIRL will now appear in your wallet and show how many tokens you hold. 

Contact address: 0x79ebc9a2ce02277a4b5b3a768b1c0a4ed75bd936

Token symbol: CatGirl

Decimals: 9

add catgirl token to metamask

Cat Girl price

Behind the supply of CATGIRL stands many, many zeros. Because of this the individual price of one CATGIRL also includes many zeros behind the coma. If you ever see suggestions of the token reaching 1 cent or maybe even more. Then please just ignore these comments. Because that would just be impossible. The whole value of the token would then easily exceed that of the biggest monetary networks altogether. Which would make no sense.

This however does not mean that our Kitty coin could not increase in price. Especially as the market cap of Cat Girl Coin is still very low. Our article here should B.T.W. not be taken as financial advice in any way!

Cat Girl stats

The $CATGIRL token stats range towards an enormous supply. With an initial supply of 100,000,000,000,000,000 tokens. However, this also came with an initial burn of 50,000,000,000,000,000 tokens. So only half the supply still exists. Because of this enormous amount of tokens, the price of $CATGIRL will always have a lot of zeros in from. But does make it a lot of fun as 1$ will buy you millions of tokens. 

The transaction fees that are made with CGC also go back to the community. With a fee per transaction of 1% for reflection (token holders), 1% for the auto liquidity, 2% is contributed toward the NFT farming pool, and 1% goes toward their marketing/development budget.

Cat Girl team

The team behind CGC keeps itself just as the creator of Bitcoin hidden from the public eye. Although you can find their credentials in the whitepaper. For a project like this, they do not have to show their true identity as the community should be the real leader anyway. However, if you want to know a little about them you can look here. 

If you want to learn more about the real team that keeps CGC going, you should check out their Discord and Telegram channel where you can meet the community keeping CGC alive. 

Future of Cat Girl

Well, these cute kitty cats could go anywhere really in the future. But we hope to see them launch more seasons for the NFT mystery boxes and overall more NFT drops. 

CGC has a roadmap which you can find on their website here. But no specific dates have been set for these plans. We really hope to see 1 or more games that utilize the token soon. Maybe even with a little burn mechanism in there to give more value back to the token holders. I’m sure there will be enough people in the CGC community that would love to see some CGC (mini) games to play with their NFTs.

Don’t forget to check out the CatGirl Twitter, Instagram, Reddit, and website for more information about the project!

How to add Cronos to an EVM wallet

how to add cronos to an evm wallet
how to add cronos to an evm wallet

How to add Cronos to an EVM wallet

In this blog, we show you how to add Cronos to any type of EVM wallet. At first, we take a look at what Cronos is and what it does, etc. If you do not want to read about any of that and directly want to see how to add Cronos to An EVM wallet. You can go down this page and start reading “Setting up Metamask for Cronos”.

What is Cronos?

The Cronos blockchain is a rapid and EVM compatible blockchain, made for the new multichain web3 world. Because of its super connectivity to the Crypto.com blockchain, Cosmos hub, and all other EVM-based layers 1’s and 2’s. 

Cronos was spawned from the crypto.com blockchain as a more EVM-friendly blockchain that makes use of the same native asset, CRO. With this new network, users can transact fast and cheaply. Making it accessible for any web3 user. Because the Cronos is a fully EVM compatible chain. Solidity developers can easily deploy their smart contracts on the network. This way they can scale their applications that run into scaling problems on the Ethereum network. 

Not only does Cronos help to scale the whole multi-chain ecosystem with its fast network. It also promotes connectivity to other blockchain layers 1’s and 2’s. By making it easy to bridge to and from Avalanche, BSC, Polygon, and many others. 

What wallets can I add Cronos to?

Because Cronos is built with an EVM and Cosmos SDK, it can be added to any EVM compatible wallet. Usually, these wallets have the option to add a custom RPC. If you see this somewhere in the wallet that you are using. It means you can add Cronos to that wallet. In “Setting up Metamask for Cronos” we show you how to do this with Metamask. But in other wallets, it works in almost the exact same way. So if you know how to add Cronos to Metamask you also know how to add it to any other EVM wallet. 

If that still sounds too complicated for you. Do not worry. Some wallets also support the network automatically. Or you can use Chainlist.org, Click on connect to the wallet and it will be automatically done for you. 

You can find all the wallets that support CRO here.

Where to buy Cronos CRO?

If you want to start using the Cronos blockchain, you of course need some of its native token CRO. Because of the popularity of the CRO token, you can buy it on almost any exchange. From Crypto.com, Kucoin, Coinbase, etc. But also on decentralized exchanges like Uniswap. 

The CRO token currently finds itself very high in the crypto market cap. Making it an interesting addition for almost any exchange. Because of that reason, you can buy CRO almost anywhere. But always make sure you only get it from a trusted platform or person. 

If you plan on using this blockchain you should probably get some CRO. But where you get it is totally up to you. Besides that, it should be kept in mind that we do not give out financial advice and only you are responsible for your financial actions. CRO can go up or down and it is possible to lose (some) of your assets. 

Send Cronos to Metamask

Once you have bought your CRO from an exchange or P2P from a person. You will want to send it to your Metamask. So you can start using the Defi and web3 products on top of Cronos. 

You can do this by going to the withdrawal section of the platform you bought it from. Enter your Metamask address. Or an address for receiving Cronos CRO in any other compatible wallet. After you confirmed the withdrawal with the platform. Your CRO should arrive in your wallet within 6 seconds. Because of the block time of the blockchain network. 

If it takes longer than that, either the platform does not release it instantly for security reasons or something went wrong. To avoid making a wrong transaction. Always make sure that you send it to the right address that is in your control. And check if this address is also compatible with the use of Cronos. 

If you send it to your Ethereum address within Metamask for example, you would not receive the CRO on that Ethereum address. But when you add Cronos to that same Metamask wallet. Your address on Cronos will be exactly the same. So you would still have access to your CRO tokens. 

Tokens on Cronos

Like any other  EVM blockchain, it is possible to create tokens on top of it. On Ethereum, you can create ERC-20 tokens and ERC-721 tokens for example. On blockchains like Cronos, you can do this exact same thing as it works with the same EVM structure. So any type of token you create on Ethereum can also be created on Cronos and vice versa. This also makes it possible to bridge tokens from one chain to another. 

If you have a token on Ethereum but want to use the speed and price of the Cronos blockchain network. You do have the option to bridge it to it and use it there. The same can be done the other way around when you want to use your Cronos tokens on Ethereum to access its liquidity markets. 

Cronos Bridge

Cronos can function a bit as a blockchain hub as it makes it possible to switch from its network to many other networks. To do this you can make use of the Cronos Bridge.  Here you can send your CRO tokens from Cronos to the Crypto.com chain or the other way around. But you can also bridge your tokens to other blockchains like Terra, and Cosmos. 

This makes it easy for any user to interact with a more multi-chain ecosystem.

Cronos Explorers

To check your transactions or the transactions of others on the blockchain you need a good block explorer. Luckily the team behind Etherscan has built a similar version of their website for almost any EVM chain. This includes Cronos. That is why you can easily search and check out any transaction on the Cronoscan.com website

Here you can see if your transaction went through. For when you try to send CRO from an exchange to your own non-custodial wallet. Or when you want to see what transaction you made one year ago. It is all there on the blockchain. 

Besides stalking an address on-chain. You can also validate a token address to see if you have the right token contract address. This way you can check whether or not you are transacting with the right token. And avoid being scammed. 

The Future of Cronos

Like many other networks, Cronos is still new in the history of it all. Meaning that it has not reached its final stage yet. Many developers are still working on the network with all their might and have many exciting plans for its future. 

The network thus has 3 main points they want to focus on going into the future. To see the network reach its full potential and help as many people as it can. They will do this by first focussing on bridging the whole multi-chain ecosystem to the Cronos ecosystem. Making it all flow smoothly between chains, by using blockchain bridges. 

Next to that, they want to focus on bringing more Dapps, from Defi to Metaverse projects to their network. Giving it more and more utility as more developers start building on top of it. And last but not least. They want to welcome as many new users to the network as possible. Including those people who have never heard of things such as DeFi and Web3.

Setting up Metamask for Cronos

So to add the Cronos to MetaMask you have to open the MetaMask wallet (In case you don’t have MetaMask yet, please get it on this page).

Also, read our Metamask review here!

Once you have MetaMask installed, open it up on the full screen. So you will have the same screen as in our example here.

Cronos Metamask 1

Now go to the top right of the screen where it says “Ethereum Mainnet” and click on the little arrow pointing down next to it. This opens the network’s tap where you can select all different types of EVM blockchains (Ethereum virtual machine) networks. Now here you can click on the Custom RPC to add a new custom EVM blockchain network of your choice. In this case, the Cronos.

Cronos Metamask 2

Now Metamask will ask you for the data needed to connect the wallet to the Cronos. Please fill in the list below.

Network Name: Cronos
RPC URL: https://evm.cronos.org
Chain ID: 25
Symbol:  CRO
Block Explorer URL: https://cronos.org/explorer
Cronos Metamask 3

When you have done this, you can just click save. And now you have added the Cronos to your MetaMask wallet.

If you would like to switch between the EVM blockchains. Simply click on the Network button in the top right of the screen to select another blockchain.

Because adding different types of EVM blockchains works the same, you can add any EVM blockchain in the same way. But instead of the list given in this blog, you replace that with another network’s ChainID, symbol, etc.

We hope this blog post helped you to integrate a new EVM into your MetaMask crypto wallet. So that you can now use Cronos as much as you want.

Find your wallet here

In case you want to see all the other wallets supporting Cronos. You can simply take a look here to filter between all wallets that do!

So we hope this article taught you more about how to add Cronos to an EVM wallet and what Cronos is.

You can also add Cronos to Bitpie wallet which we have reviewed here!

But in case you have Questions regarding Crypto or EVM networks? Feel free to ask them on our Facebook or Telegram groups. Because we are happy to help whenever we can!

So are you ready to start using your own Blockchain wallet? Take a look at our unique wallet finder functions here! So you can find the perfect wallet for your blockchain.

5 Best Moonbeam wallets for 2022

5 Best Moonbeam wallets for 2022

Since the world is starting to become more and more multi-chain, EVM compatibility is key. However, the blossoming Polkadot ecosystem did not have a way to connect to all the other EVM compatible blockchains. 

What is Moonbeam?

Moonbeam serves as the connection between the world of Ethereum, Polygon, BSC, and many other EVM chains, to Polkadot. Because Polkadot itself does not run an EVM, bridging Dapps to the network can be difficult. That is why Moonbeam serves as a bridge between the 2 ecosystems. 

Moonbeam is essentially a layer 1 para chain to the Polkadot system, which also runs an EVM. This gives it the possibility to run Ethereum compatible Dapps in a Polkadot enviroment. Making it easy for all sorts of Dapps to move to Polkadot without having to rewrite the code. 

Check out the Moonbeam website here.

To support the whole multichain ecosystem we take a look at the 5 best Moonbeam wallets for 2022!

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Metamask

Known as the wallets among wallets, Metamask once again finds its way to the top of our list. With the possibility to add manual EVM layers 1 & 2’s, Metamask is ideal for a multichain ecosystem. This way users can enjoy the benefit of many different blockchains. With the comfort of a wallet that they are probably already familiar with. 

You can add Moonbeam to the wallet by custom RPC and is done in less than a minute. But although they land on our number one spot, do not forget to check out the others too. As they are also amazing wallets.

Curious about what we think about Metamask? Check out our Metamask review here!

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Math Wallet

In our second place, we find Math Wallet. This wallet comes with a unique and very good design. Which makes it easy to understand for beginning users. Math does not allow you to add custom EVMs but has Moonbeam already integrated. Next to all the other networks that the wallet automatically supports. Like Bitcoin, Ethereum, EOS, Solana, and many more. 

The Math Wallet works ideal for those that really go multi-chain web3. Because the wallet supports all sorts of Dapps, NFT display, and much more. While at the same time offering support for the Bitcoin blockchain and many other chains that you can not connect as EVM blockchains.

Curious about what we think about MathWallet? Check out our MathWallet review here!

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CoinBase Dapp

Coming in third is the CoinBase (Dapp) wallet. With similar capabilities as Metamask, the wallet makes it easy to use Moonbeam. Because users can add a custom EVM chain Moonbeam can be added by whoever wants to use it. This with at the same time the simple UX & UI that you get from the company that builds it. 

If you plan to use this wallet. You should keep in mind that this is Coinbase’s non-custodial wallet. Meaning it is not connected to their centralized exchange. And they are not responsible for the funds on this wallet. The Coinbase (Dapp) wallet is thus just like other non-custodial wallets and makes you fully responsible for the funds that you store on it. 

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AirGap

In fourth place we find AirGap. A new wallet to our lists. AirGap was one of the first wallets to announce its support for the Moonbeam network and is available on mobile and desktop devices. 

AirGap has always focussed on security for its non-custodial users. They do this with their two-app approach. This gives you extra security while Holding your crypto funds. You can even get higher security if you install AirGap Vault on a second smartphone, that you then never connect with any network again.

Test out AirGap yourself to see how you like their new security approach. 

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XDEFI

Last but not least, we have the XDEFI wallet. They are known as a new and growing multichain wallet with a built-in DEX/Bridge aggregator. The XDEFI wallet supports all sorts of features so you are rightly equipped for the web3 world and ready to dive into the metaverse. XDEFI brings functionality within the wallet with multi-chain NFT displays. So you can display not only your ETH NFTs but also your Solana and Moonbeam NFTs.

Next to NFTs, they let you easily Swap and Bridge between chains within the wallet. So that you are not bound to one specific blockchain. But instead can move around the multichain verse freely. 

XDEFI has since the beginning focussed on quickly improving on the mistakes and letdowns of other EVM wallets. And they will probably improve fast with new features in the future. As they have done over the last few months. 

 

Moonbeam wallet F.A.Q.

Where can I find the official Moonbeam wallet?

Like many other blockchains, Moonbeam does not have an official wallet. You can however find all the wallets that can support Moonbeam here. Or go to the Moonbeam website where they have a few listed. 

How much does it cost to store Moonbeam on these wallets?

Nothing, all these storage places mentioned here are all free to use.

Where can I safely store my GLMR?

That depends on you. All of the wallets in this article are non-custodial. This means that the company behind the product does not have access to the crypto you store on it. So you will be held fully responsible for the funds on it. 

Most of these wallets here we have tested and we do trust. But you should always make sure that you have a backup of the wallet in case of an emergency. Next to that, you should also have a good virus scanner or any other means that you use to protect your device against intruders. 

Can I send my BTC to a Moonbeam wallet?

No, you can not. If you would send BTC from a Bitcoin address to a Moonbeam address, this would result in a loss of funds. Only wrapped versions of Bitcoin can exist on other blockchains like Moonbeam.

What is the current GLMR price?

You can find the GLMR price on coin price sites like CoinmarketCap & CoinGecko. Just search for GLMR or Moonbeam. 

We hope this article helped you find a place to put your GLMR coins. But if you like to go through more different wallets for other blockchains. You can go to our filter page. Here you can find a place to store all the different cryptocurrencies that there are. If this article helped you then don’t forget to check out the others and give us a like and follow us on Facebook and Twitter!

Defi on Bitcoin

Defi on Bitcoin
Defi on Bitcoin

Defi on Bitcoin

With the rise of crypto, new Dapps and trends come along. In the last few years, Defi has been one of these trends that have established itself as one of the key drivers of blockchain adoption around the world. 

If you never heard of Defi before. It stands for Decentralized Finance. This means that you can do all sorts of specific financial transactions in a decentralized manner. So on a blockchain. Because (most) blockchains are decentralized by nature. Because Defi runs on top of permissionless blockchains, no one can stop you from participating in these financial actions. This can be for simple things like trading/swapping tokens. But also for lending & borrowing money, becoming a liquidity provider, or staking coins.

So far this Defi ecosystem has been mostly built on Ethereum. But has in recent times also spread a lot to other layers-1 networks that have more scalability. As using Defi on Ethereum becomes more expensive. 

This has led to the whole multi-chain system we currently find ourselves in. With an enormous Defi ecosystem spread out between all sorts of layer-1 and layer-2 blockchains. But not yet to Bitcoin. This is because Bitcoin has certain limitations on its base layer. Because the network chooses security above functionality first. However, that does not mean Bitcoin can not run any Defi protocols. No, on the second layer level Bitcoin also has the power to run more complicated Defi Dapps. Without losing the security of the Bitcoin base layer. 

Defi Sidechains for Bitcoin

Like I said before Bitcoin’s base layer does not provide enough functionality for complicated Defi applications. But its sidechains do have the potential to host these Dapps with the backing of the main network. 

These * sidechains already bring Defi capabilities to Bitcoin and could grow the whole Bitcoin decentralized ecosystem in the future. 

DefiChain

We start with DefiChain, a bit lesser known BTC sidechain as they do not find themself in the top 100 on Coingecko (yet). Defichain does exactly as the name says. It brings Defi to Bitcoin with a Bitcoin anchored sidechain, that has the possibility for more complicated smart contracts. 

This spurs trading on the blockchain as it is all protected with some of the security of Bitcoin. Making it feel safer to trade upon than some of the other layer 1 & 2 blockchains out there. 

The network, like many others, does still work on its development and will probably extend its Defi capabilities in the future. While also turning their focus to other on-chain applications. 

Stacks

Stacks is one of the Bitcoin sidechains that has been growing a lot since its launch not too long ago. The network brings many functions to BTC that BSC and Ethereum also have. But with supposedly more security. Stacks does have its own token that can be staked on the network to earn BTC rewards due to its consensus algorithm connected to Bitcoin.

You can find the stats for the network here.

The Stacks blockchain has found itself in the top 100 coins on Coinmarketcap and seems to become a very popular place for BTC NFT collectors. As the network produces and trades in large volumes of NFTs on a daily basis. Not only can NFTs on Bitcoin be fun. But they will most likely also spur the trading/financial applications around them on the sidechain.

Lightning Network

The Lightning Network is well known as the most popular Bitcoin sidechain. And has many daily users. Especially after the country of El Salvador adopted it and has put the country on a Bitcoin standard. Although Defi on Lightning is not yet a big thing, it is possible. With several teams around the world working on many things for the network to give it as many financial options as possible. 

We hope to see stable coins come to lightning in the near future. And with the option to send easy and cheap stable transactions over Bitcoin. We also expect a form of a DEX. So people can trade their stable coins for Bitcoin.

Currently, we do not have that many Defi protocols running on lightning yet. But some Dapps do already exist, like Lightning Pool. Where people can supply their BTC as liquidity for lightning network service providers. 

RSK

Known as one of the first Bitcoin sidechains, RSK brings all that Ethereum offers to Bitcoin. But with a merged mining algorithm. So that RSK can enjoy the same security as the whole Bitcoin network. When it comes to the layer-2’s for Bitcoin, many of them have their own token for transaction fees, etc. This is however not the case for RSK as all transactions are paid in RBTC. 

The network currently already hosts many Bitcoin Defi protocols and can also be added to many EVM wallets. The network has been a long-standing one and is still being worked on by their team. This could see the layer-2 scale in the coming years. And thus bring much more financial functionality to Bitcoin.

Liquid Network

The Liquid Network by Blockstream is very well known as a transaction layer ideal for exchanges. Because the network can host cheap transactions from one party to another. However, the network also allows for the creation of security tokens and much more. This way the Liquid Network brings some extra financial functions to the Bitcoin network. Especially as companies and countries issue bonds, stocks, and other securities on the sidechain network

 

Defi wallets for Bitcoin

To start using Defi on Bitcoin, you will need a proper Bitcoin wallet first. You can find all the Bitcoin wallets in our wallet finder. But the wallet you choose should also be able to connect to the sidechain you want. If you want a DefiChain wallet you should go for that and if you want a Lightning wallet of that, etc. 

But if you are not ready yet for using the whole ecosystem and just want to hold BTC. Till the BTC ecosystem is more developed. You can also just get a BTC wallet and keep your BTC there till you are ready to use it. 

If you already hold BTC on another wallet. But that wallet does not support the sidechain you want. Then you can always send your BTC from one to another wallet. Or import the private key into another wallet. But please be careful that no one else sees your private key.

Using Bitcoin for Defi

Of course, if you want to use your BTC for Defi applications, you do not need to do so on a blockchain connected to Bitcoin. You can also just bridge or wrap your BTC. So you can use it on other blockchains like Solana, Avalanche, and many more.

Currently, this is one of the most common ways how people earn interest on their BTC in a decentralized fashion. If this is what you are after you can see if you can get your hands on some WBTC or BTCB. You can do this by swapping one for another on a crypto exchange or by using the Ren bridge. for RBTC. 

This way you can bring your BTC to Ethereum, Polygon, etc. And start using interest on it on Dapps like PancakesSwap, Aave, Compound, and many more.

But you should keep in mind that when you keep your BTC on another blockchain you are at the mercy of either that blockchain or the custodian that holds the BTC for you (in exchange for a wrapped token). 

Investing in the Bitcoin Defi ecosystem

If you believe that the Bitcoin Defi ecosystem is the Defi ecosystem of the future. Then you might want to invest in it. Btw this is not financial advice, okay! If you do so you can go 2 ways in doing so. 

The first is maybe the most obvious and that is by investing in the tokens behind the Bitcoin sidechains and the tokens of the Defi protocols. Although this is the easiest way, you will also have to pick the winners, which can be difficult. If this is your way to go. You could just go to a crypto exchange that has the token listed and buy it there. You would not even have to hold it yourself. But this does come with more risk and less freedom. If you keep it on the exchange that is. 

The most simple and easy way to invest in the Bitcoin Defi ecosystem is not by buying the tokens. But really buy just buying and holding BTC. As Bitcoin Defi heavily relies on Bitcoin. Its main token will also benefit from the systems built on top of it. Mostly because they will need it for security and to settle the main transactions on the Bitcoin blockchain. 

Last words

I hope this article thought you more about Defi on top of Bitcoin. If you want to learn more about crypto feel free to check out our other articles. And do not forget to give us a follow on our social channels. So that you stay up to date with all we do! 

 

What Is Litecoin?

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what is litecoin

What Is Litecoin?

 
Litecoin (ticker LTC) is a cryptocurrency that is unique because it enables instant, almost zero cost payments to anyone worldwide. Litecoin is an open-source, decentralized network that operates without any intermediary. 
 
Litecoin is the 21st largest cryptocurrency as ranged by Coinmarketcap.com. It was created as an alternative cryptocurrency in October 2011 by Charles “Charlie” Lee, a former Google engineer. Litecoin was mainly based on Bitcoin’s open-source code but of course with some modifications and improvements. Litecoin differs from Bitcoin in terms of faster block generation rate and use of Scrypt as a proof of work scheme.
 

What is Litecoin use cases?

 
One of the main goals of Lee and his team is to make LTC a decent pay method that can be used worldwide.
In 2021 PayPal’s Venmo payment app added Litecoin as one of the digital currencies users could “buy, sell, and store” within their Venmo profiles.
In the same year, the Litecoin Foundation launched a VISA debit card that converts LTC into US dollars for “users to make payments anywhere VISA is accepted.” online shopping and digital services to retailers and restaurants. Here’s a list of well-known companies that started accepting LTC Directory with 3100+ companies, services, merchants, stores accepting LTC as a payment. Pay with Litecoin!
 

Main features of LTC

  • Litecoin runs on the Lightning Network. That gives an opportunity for small transactions to process off of the main blockchain. 
  • Litecoin has been known since 2011 and is one of the most popular cryptocurrencies together with Bitcoin and Ethereum.
  • It has a loyal, involved community and it’s listened on almost all exchange platforms.
  • It’s blockchain has been running for many years flawlessly and has a proven track record proving its security.
  • The transaction fees of its are lower than on Bitcoin.
  •  It uses a Scrypt hashing algorithm. So miners gain newly minted Litecoin’s as a reward. The Scrypt algorithm prevents miners from pooling together.

LTC Factfile

  • LTC’s market cap at the moment of writing is 8.554B
  • Large companies such as UFC (Ultimate Fighting Champion), gaming giant Atari and Overstock.com, Travala, and many others are using LTC. 
  • Litecoin is one of the most liquid coins in the market. 
  • Litecoin is among of fastest cryptocurrencies over there. Users can process transactions on its platform four times faster than on the Bitcoin blockchain.
 

Litecoin community

Litecoin has a strong and loyal community worldwide, so you’ll reach those enthusiasts with ease on Twitter, Telegram, Litecoin forum, Reddit, etc. There is also Litecoin Wiki where you can find all the information you need. 
 

Where to buy LTC?

 
Litecoin (LTC) is available for purchase on all prominent exchanges such as Coinbase, Binance, Gemini, SimpleSwap etc. You can also buy it directly with a Paypal, credit card, or cash.
If you want to buy and sell with USD, you can also use Coinmama exchange, the easiest way to make such transactions. Users worldwide can use it to buy Litecoins with USD. 
 

Choosing Litecoin wallet

 
Your Litecoin wallet should be easy to use, quick and sharp in reactions, both nicely and smartly designed, giving you an opportunity to be a part of crypto flawlessly. We are happy to offer you a SimpleHold wallet as an option cause it was built for beginners to make all crypto operations as easy as possible. Plus, it’s an extremely secure wallet, that is pretty crucial for our team’s vision and our user. With SimpleHold you don’t have to be scared of data leakage at all. Just try to download an app for iOS or Android or an extension for your favorite browser and test an incredibly convenient wallet you haven’t had before!
 

Final thoughts

 
Litecoin remains a decent option for cryptocurrency investors and traders looking for Ethereum and Bitcoin substitution. It’s much faster, its adoption is continually increasing, and you can also mine a token by installing Litecoin Core and meeting all the requirements.
 
Written by SimpleHold

An introduction to Wombat Stableswap

An introduction to Wombat Stableswap
An introduction to Wombat Stableswap

An introduction to Wombat Stableswap

Swapping from one stable coin to another is one of the most done things in Defi these days. But when you go from Dai to USDT or UST to USDC you won’t always get a precise 1 to 1. This comes from a more complicated system behind the Defi protocols that have to balance the liquidity of the tokens and their current demand. Making this so-called slippage zero is not really possible. But it is possible to make it as low as we can. At least lower than the current Defi protocols do. 

To solve this problem Wombat came about with a new and better algorithm that makes it cheaper for users to swap between stable coins. But also more user-friendly for the people swapping and the people that provide the liquidity for the Dapp.

What makes Wombat different?

Liquidity pairs and not just solo liquidity

One thing that Wombat does to make their user experience better and the slippage lower is by destroying the old model of specific liquidity pairs. This is the current model most stable swap protocols like Curve uses these days. With Wombat you do not have to lock your stable coins in a specific token pair like USDT to Dai. But instead, you can lock a single stable coin in the liquidity pool. 

This approach makes it so that the liquidity does not have to be spread out over multiple pairs. But instead, can all be together in one giant pool. This in combination with their unique algorithm creates a lower slippage for token swaps.

Open liquidity pool for multiple tokens

Not only does a system with pools like these create a lower slippage. It also gives more opportunities for adding more different stable coins easier. As adding a new stable coin to the protocol does not need a new liquidity pair. So if you want to swap from a “new stable coin” to USDT. You will not have to add extra USDT to a specific pair. As you already have USDT locked in the protocol.

Why is there a price difference between stable coins

Why is there a price difference between stable coins?

Well, it’s simple. The price of stable coins changes all the time. This comes from the fact that some of them are just more popular than others. This can come from simple trends. But also from the fact that some just have more demand for it. This demand usually comes from the use cases of the token and if it can be used for certain trading pairs etc.

For this exact reason, it is super important to be able to easily swap between them as the world won’t just simply switches to one single stable coin. And of course, when you swap between then, especially at large amounts, you want to do so at a price as close to 1 to 1 as it can be. 

Bad user interface

A very common thing we see these days when swapping or providing liquidity for stable swap Dapps, is that the interface looks, well… not so good. This is not only a design problem but also originates from the hundreds of liquidity pools people can add to. 

Wombat dramatically improves on this. Not only with a better design but also because of the single token provision. This makes it easier to understand. And you as users will not be confused by all the different pairs you could provide liquidity too. 

Wom token

Like any good Defi protocol, Wombat has its own token, the WOM token. The WOM token can be used for all sorts of things related to the Wombat exchange. With first of all its governance. Holders of WOM can participate in the governance of the exchange by voting for any proposed changes and additions to the protocol. Giving the ultimate power back to the people and the supporters of the Wombat exchange.

As second holders of the WOM token can stake it and earn interest on it. Because a part of the fees taken by the Wombat exchange will be distributed to the stakers of the WOM token. Making it lucrative to hold and stake WOM.

Those were the 2 main features of the token. But it can also be used for whitelisting and priority access to wombat incubation labs project launches in the future. And Discounted opportunities for projects.

Wombat Team

Wombat Team

A good project is only as good as its team. So let’s take a look at the Wombat founding team. 

Alex Lee – Founder & Wommander in Chief

Alex has been a quant trader and blockchain engineer expert with extensive experience in crypto, project management, and portfolio management.

Daniel Chan – Chief Technology Officer

Daniel is a crypto OG and blockchain engineer with an entrepreneurial background ranging over Defi, banking, and social enterprises.

Raymond Wong – Chief Marketing Officer

Raymond is their marketing expert with many years of experience in crypto and traditional finance. He is skilled at scaling projects from inception to operation.

Mr. Duckbill – Advisor to Wombat

He is the founder of Platypus Finance, bonafide crypto OG, revolutionary tokenomics designer, and loyal friend to Wombat.

These 4 are the backbone behind Wombat swap and are sure worth a follow if you want to follow the process of the Wombat exchange.

Investors and Partners

When looking at a new project on the market it is always super important to look at the team. But also at the money behind the team. In the case of Wombat, this is quite impressive. With investors with large names like Binance Labs, TPS Capital, ZOKYO, and Silverstone behind them. Altogether they already raised a Series A funding round of $5.25 M. Which should give them enough funding to work on the project for quite some time.

This shows that the project has the means and the capital to keep on building for some time. Besides the fact that all these big players obviously have some trust in them. If you want to see the other firms that invested in Wombat click here!

Future of Wombat

Wombat just came out of the womb and still has to launch its main net version to the BNB Smart Chain (BSC). Or they might already be live by the time you read this. But although Wombat will start on BSC they look much further than that. 

As the world becomes more and more multi-chain Wombat plans to evolve with it. So shortly after their main net launch on BSC, they will also integrate their protocol on multiple other EVM blockchains. Starting with the likes of Polygon, and EVMOS. More other EVM blockchain will follow soon after said their founder Alex Lee. As the protocol grows and becomes a true multi-chain stable swap protocol.

Last words

If our article about Wombat interested you, then do not forget to check out Wombat’s socials media channels and website down below!

Website – Wombat.exchange

Twitter@WombatExchange

Discord – Wombat Exchange

Telegram Announcements – Wombat Exchange News

Telegram Group – Official Wombat Exchange

In case you have any comments or questions about Wombat? Feel free to ask us or the Wombat team on social media. 

If you have not yet added the BNB Smart Chain to Metamask? Then check out “How to add BNB Smart Chain to Metamask” Here!

Written by Frank van der Beek