Weekly Altcoin update – Week 46
Posted on: 11/16/2021,
2 minutes read
Weekly Altcoin update – Week 46
This week's altcoin update is packed with information, highlighting Reserve Protocol, LUNR Token, Project SEED, Token Traxx, and Opulous!
The team of Reserve Protocol have made significant progress on the mainnet release and therefore announced that it will be released in December or January. The mainnet release is a significant milestone for the project, considering it will add many new features that increase the robustness and flexibility of the ecosystem. Reserve Protocol will introduce a yield token that is backed by a basket of DeFI yield-bearing assets. This yield token will allow holders to generate yield without direct exposure to the yielding bearing assets. Therefore, minimizing the complexity threshold for their users and allowing users to have a savings account on the Reserve ecosystem.
Token holders will be eligible to stake their coins and receive a portion of all the Reserve stablecoin(s) earnings. It enables holders to make their capital in RSR efficient, making their portfolio much closer to the market portfolio (i.e., most efficient portfolio). Additionally, holders are eligible to create their stablecoins backed by a basket of ERC-20 tokens. These tokens will be called R-tokens. Therefore, allowing anyone to create their stablecoins as long it has enough collateralization.
The number of transactions on the Zilliqa ecosystem has been growing significantly, thanks to LUNR token. The new token on the block has already processed more than 100,000 transactions in less than a month (Viewblock), which was much higher than the LUNR team initially anticipated. The userbase grew to a considerable size in just two weeks; the team was initially expecting to reach these numbers a few months after the release of LUNR token.
The LUNR token is rapidly turning into one of the powerhouses of the Zilliqa ecosystem; with a dedicated community and a unique ecosystem design, it might be just the beginning.
The vision of Project SEED is clear, developing revolutionary games that meet the traditional gaming standards while integrating blockchain features. By allowing players to receive rewards for their input, Play-to-Earn, and making their in-game assets liquid through NFTs. The Project SEED team is well experienced within the gaming industry, with an impressive background of multiple significant global gaming studio's. The team has been working for months to launch their project, and finally, the ecosystem launched last week!
The launch of Project SEED was explosive, with an ATH of over 100x profit of the IDO price. The team has been working day and night to ensure that the asset is liquid and accessible by getting the SHILL token listed on several major exchanges (i.e. Kucoin, Gate.io). The retail accessibility of a cryptocurrency is vital for sustaining liquidity healthily and continuously.
Token Traxx is a new project that is going to launch on the Zilliqa ecosystem. The project aims to revolutionize the music industry through NFTs and tokenization. Blockchain allows the ecosystem to create new opportunities for artists and fans to engage and interact. Additionally, it will revolutionize the payment of royalties, rights ownership and playlists.
The team of Token Traxx is well experienced within the music industry and worked with a few of the most significant global music artists (e.g., Jay-Z, Beyonce, Kanye, Coldplay). Additionally, the advisory board includes former Spotify VP Marco Bertozzi.
The main issue of the current music industry is that it is not accessible and is relatively closed. Therefore, having a global network of artists that can be integrated into the ecosystem is vital. Additionally, the ecosystem can benefit from these artists' exposure, which can influence the value of the native token, Traxx.
The Opulous ecosystem has been growing at a tremendous rate in the last couple of weeks. The team has been expanded with two new advisors.
Mark Gillespie is a heavyweight within the music industry, with an impressive background and a significant network of artists. Mark is the CEO of Three Six Zero, a music management and entertainment company. The company has multiple global stars under its wings (e.g., Calvin Harris).
Jay Moore is a crucial figure within the financial side of the music industry. Jay has been working for the Kobalt Music Group as Senior Director of investments and working for Ditto Music. Jay is recognized as a financial expert within the music industry. Additionally, Jay has handled the acquisition of billions of dollars of music rights in his previous and current work experiences, which led to a significant network of global artists.