House Of Chimera Weekly Altcoin Update - Week 16

Diederick Jacobs

Posted on: 4/19/2022,

2 minutes read

House Of Chimera Weekly Altcoin Update - Week 16

This week's HoC Weekly's Altcoin Update will highlight: Dexalot and LunrToken.


LunrFi is here!

LunrFi is a suite of DeFi tools that grants LUNR holders increased utility and rewards. The first DeFi product has been released, staking, allowing users to improve capital efficiency with up to 25% APR on their LUNR tokens. The staking mechanism is the first of many DeFi products which will roll out over the upcoming months. LUNR holders can lock their tokens for up to 12 months, significantly lowering the circulating supply and decreasing volatility. Currently, the Total Value Locked of LunrFi exceeds 1.6M within a few days. The rollout of new products will significantly affect the usage of Lunarcrush and hence increase the use of existing products.


Staking is here!

The Dexalot staking mechanism got released last week, allowing users to receive up to 63,69% on their ALOT holdings by staking for four months. The staking mechanism enables users to become validators for the upcoming subnet, which will be released in the next 2-3 months. The main benefit of being a validator is that the user receives a small portion of the CLOB fees. Additionally, it increases the ecosystem's security; hence a good pool of validators must be present when the subnet is released. Over 900k A LOT is currently being staked, drastically lowering the circulating supply. Therefore, the relative total share of tokens of market makers increases and consequently, the control of these institutions increases; hence the overall asset volatility decreases.

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