Giving investors likable and innovative use cases is the aim of every new and renowned project. Since the fall of Terra, algorithmic stablecoin projects have been trying hard to get back on the scene as a good store of value. While Terra Luna is trying to get back on its feet with newer upgrades, Frax Finance’s stablecoin, Frax Share (FXS), is gaining ground as a good alternative to Terra’s UST stablecoin.
Snowfall Protocol (SNW) is another ingenious blockchain protocol that piqued investors’ interest with its one-of-a-kind utility. The protocol can link other blockchain protocols and networks, improving blockchain interoperability. The protocol is regarded as a forerunner in the ICO space after raising $5 million in presale. Read on to learn more about algorithmic stablecoin and why Snowfall Protocol (SNW) is seeing massive demand in ICO.
Algorithmic stablecoins are in the news again, with Frax Share (FXS) making waves with its bullish price movements. Frax Protocol (FXS) is a decentralized open ecosystem that issues fractional algorithmic stablecoins. It was built as an effective store of value that can replace volatile and fluctuating assets like BTC.
A few days ago, Frax Share (FXS) broke above a 60-day resistance level at $7.2 to attain a new local high at $11.3. The token is trading at $10.3, about a 35% rise in the past 7 days. So far this year, Frax Share (FXS) has grown by more than 250% and sits on a market cap of over $750 million.
Following the collapse of Terra Luna in 2022, its original lending protocol, Mars Protocol, is set to launch mainnet as part of Terra Luna’s recovery plan for Luna holders. The launch will feature a Cosmos app that will go live on January 31st, 2023, as the final stage of its three-phase process. According to the protocol, 16 genesis validators will go live with 50 million MARS tokens delegated.
As a community-driven project, the Mars protocol (MARS) will avail 64.4 million MARS tokens to Terra Luna Classic users via a snapshot. The fall of Terra caused a catastrophic loss of value to the MARS token. Therefore, the success of this mainnet launch will go a long way to give MARS token a much-needed boost. Meanwhile, Terra Luna and Luna Classic still maintain their stance as top crypto assets.
Snowfall Protocol (SNW) is a market leader that has emerged as the most profitable ICO of the year. The project leads the forefront as the first multichain asset transfer protocol for more than 200 EVM and non-EVM chains. Snowfall Protocol (SNW) aims to open the door for an all-new next-gen blockchain technology of limitless interoperability and chain-to-chain interaction.
The success and relevance of the Snowfall Protocol (SNW) are evident in the soaring demand and the $5 million raise it has realized in a few months. Despite the bearish market condition, Snowfall Protocol (SNW) is creating an ecosystem where anyone can simultaneously interact with any blockchain network.
The protocol features a one-of-a-kind canonical system and wrap/swap model for crypto assets and NFTs. Thus, it seamlessly and securely facilitates the transfer of cryptographic assets from one chain to another. Meanwhile, the protocol has been audited and deemed fit by InterFi Network as a safe investment asset.
Snowfall Protocol (SNW) is trading in presale for an underprice value of $0.191, and experts are sure that the token will rise by 1000x. So far, the Snowfall Protocol token (SNW) has grown by 3700% since its launch. Snowfall Protocol (SNW) is a great opportunity to earn from an innovative project with a well-established ecosystem economy. So sign up and take pride in being part of the next biggest DeFi ecosystem.
The post Frax Share (FXS) climbs 29%, Terra Luna’s Mars protocol (MARS) is set to launch mainnet, Snowfall Protocol (SNW) emerges as the forerunner in the ICO space appeared first on CryptoMode.
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