Decentralized finance provides a glimpse into the future of the financial sector. The transition towards a system that gives more control to participants is a positive development. DigiToads (TOADS), Aave (AAVE) and Pancakeswap (CAKE) are projects at the forefront of this transition.
DigiToads is notable despite only being in its formative stages. The project is almost concluding its presale, which has raised close to $6 million from token sales. This haul for a new project in a tough market is impressive. DigiToads is looking to shift the focus of memecoins in the cryptocurrency industry permanently.
Decentralized finance (DeFi) broadly refers to financial services on the blockchain. In the past five years, lending, exchange, data solutions and other decentralized investment channels have taken off online. This spike has significantly increased interest in blockchain research and exploring ways this technology can improve services.
DigiToads (TOADS)
This project is a memecoin unlike any other. Memecoins typically take after a popular meme with no underlying utility or roadmap. DigiToads is a play-to-earn gaming ecosystem that goes further than its predecessors. Accordingly, the TOADS token has gained tremendous interest during the presale, which is happening in ten stages.
The presale was at stage 9 at press time, with tokens available at $ 0.047. This price represents a 370% gain from the start of the presale. TOADS should have an ROI of 450% by launch, with investors optimistic it will be their next 100 X tokens.
The TOADS token forms a crucial part of the gameplay reward system. Accordingly, it is an exciting token because its performance is not merely speculative like other memecoins. The utility of the token in the gaming ecosystem.
PancakeSwap
This decentralized exchange has emerged as a genuine competitor for Uniswap. Pancakeswap runs on the Binance Smart Chain (BSC), which BInance created for smart contract platforms. CAKE is the native token on the DEX and is vital for liquidity on the exchange.
Pancakeswap also uses Automated Matchmakers (AMM). This DEX gained visibility in the past three years and has billions of dollars in total locked value. Liquidity providers earn yield in CAKE, which has become a notable token in crypto markets because of this utility value.
AAVE
The explosion of decentralized finance also thrust the Aave protocol into the limelight. This project launched in 2017 but became significant as DeFi exploded in 2020. It is a non-custodial platform for crypto lending in a trustless and transparent format.
Borrowers can access crypto loans based on their collateral. Lenders lock funds for sometime and get rewards in AAVE tokens. Crypto lending can transform finance by automating lending and borrowing and giving access to the financial system for many who miss out on lending in traditional finance.
DigiToads launches its NFT minting tool
Development on the gaming ecosystem is ongoing. The work that goes into creating a high-level gaming ecosystem is intense but eventually rewarding. DigiToads also has an NFT collection for users to create value. You can mint tokens in the game and stake them to earn a percentage of TOADS transaction fees.
DigiToads has unveiled its NFT minting tool, which is now available at https://mint.digitoads.world/
Conclusion
The above-listed tokens represent different flag bearers of decentralized finance. DigiToads is a transformative project for memecoins, while CAKE and AAVE are significant in the trading and lending sectors, respectively.
For DeFi enthusiasts, they represent opportunities. The opportunities are both in the value creating sense from staking on these platforms or potential upside from token appreciation. DigiToads is the standout project here because it has so much upside as it heads for launch.
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Source: https://coinpedia.org/press-release/three-defi-tokens-worth-buying-in-july-toads-aave-cake/