New to Blockchain-based Community Tokens? Start with Decentraland, ApeCoin, and HUH Exchange

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Community tokens have overwhelmed the cryptocurrency market by demonstrating the strength of a social community. Decentraland (MANA), ApeCoin (APE), and newcomer HUH Exchange (HUH) are taking the lead in the sector.

These tokens are created for memberships, and individuals need to hold the token to enjoy community benefits. Such benefits can include token rewards or airdrops, voting rights, access to exclusive events, etc.

While many community projects are in the market, some offer more benefits than others. Here’s how the Decentraland (MANA), ApeCoin (APE), and HUH Network community projects work.

Decentraland (MANA)- Gaming for Profit

Decentraland (MANA) is a decentralized Metaverse built, governed, and owned by its users. It is a virtual reality platform that runs on top of the Ethereum blockchain, allowing users to create, experience and monetize content while interacting with other users.

Users of Decentraland (MANA) can buy LAND and create anything from static structures to immersive peer-to-peer apps using custom programming. The platform’s flexibility makes applications for real estate, gaming, full-service casinos, marketplaces, enterprises, and tourism possible.

While the platform has other tokens, such as the LAND, The ERC-20 MANA token powers the virtual reality platform, MANA is used to pay for virtual plots of land and in-world goods and services on the platform. It also serves as the governance token, which gives holders access to the DAO and voting rights on the direction of the platform.

ApeCoin’s (APE) Key Successes

ApeCoin (APE) is a governance token that runs on the Ethereum blockchain. It was originally airdropped to owners of the Bored Ape Yacht Club and Mutant Ape Yacht Club NFTs, but anyone can buy the coin now.

While Yuga Labs, the company that developed the Bored Apes NFTs, did not officially release ApeCoin (APE),  the steward of the Bored Ape Yacht Club project, Ape Foundation, that oversees the ApeCoin DAO did. 

Note that the ApeCoin DAO is a decentralized autonomous organization (DAO) where cryptocurrency owners can use their tokens to decide the future of the Bored Ape Yacht Club metaverse.

Additionally, holders of ApeCoin can use the token to purchase items in the ApeCoin metaverse, such as digital real estate in Yuga Labs’ NFT universe.

What is HUH Exchange (HUH)?

HUH is a social blockchain for users and creators. Like the Ethereum blockchain, HUH aims to host high-quality and popular blockchain apps while offering a fast, cheap and scalable network through its implementation of the Proof-of-Stake (PoS) consensus.

The network will also offer wallet and exchange services while being decentralized. It will also prioritize simplicity to make the platform easier for everyone, regardless of their experience level.

The network will be EVM compatible; hence, it will allow projects that work on other EVM-compatible blockchains to port over to its network with no challenge.

The platform’s native token, HUH, will allow the network and the apps developed on it to run a PoS consensus mechanism while still serving as a governance token for the community. Individuals can become validators on the network and receive transaction fees in HUH.

The HUH token holders can contribute to the network’s decision-making while enjoying the decentralized social platform and DeFi products hub. 

The project is currently on presale to fund all of its plans and offers an exciting bonus percentage to users who deposit different cryptocurrencies to buy.  You can receive about 10 to 20% extra tokens if you deposit ETH, BNB, USDT, SOL, DOGE, SHIB, BTC, LTC, and XRP.  You can also get an additional 8, 5, and 3% tokens if you buy in the first, second, or third presale stages.

Since community tokens depend on community members holding and using the token to maintain its value, it’s best to find one with a massive community. Experts are quite optimistic about HUH Exchange as more crypto enthusiasts get on board. Check out the platform’s website to learn more and join the presale.  

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