If you’ve been on the coin market for some time, you’ll already know that every cryptocurrency differs from others. There are hundreds of crypto tokens worldwide. The variety of features in this ecosystem makes it one of the most attractive financial markets out there. While certain crypto tokens are designed to host smart contracts and decentralized applications, we also have community-backed tokens.
Many traders are interested in tokens that will outlast others in the coin market. One of the biggest guarantees for a good project is strong community backing. And that’s why DAO-backed tokens have gained more importance. A Decentralized Autonomous Organization (DAO) describes a project that is controlled by its users. Every DAO is different. However, the plot is the same. Members of the DAO would vote on future decisions on the project. It’s clear that DAO-backed tokens are impressive. This piece will reveal the essential features of the most reliable DAO-backed tokens on the coin market.
Swap Ethereum With Uniswap
Uniswap is a decentralized exchange (DEX) that was created in 2018. The Ethereum developer, Hayden Adams, was inspired to create Uniswap after he saw a post by Vitalik Buterin. It was originally to swap ETH for other tokens, but it has now included other ERC-20 tokens. Uniswap’s major aim as a DEX is to tackle the problems faced by the centralized exchange. Some of such problems include the risk of fund misuse, hacking, and arbitrary fees.
Decentralized exchanges are also not without their challenges. They lack adequate amounts of money lying around the exchange to affect trading. So, they always rely on matching buyers and sellers. However, Uniswap aims to make swaps happen without relying on traders. It is using a simple maths equation combined with a pool of tokens to enable swaps.
One important aspect of Uniswap is its DAO. The Uniswap DAO was created shortly after the creation of the protocol. The DAO governs the affairs of the protocol and token holders/contributors can make decentralized decisions. The UNI token is solely a governance token for the DAO. It has no other value aside from its function in the DAO.
Go Ape for ApeCoin
Apecoin is a cryptocurrency platform that’s designed to support the development of web3. This cryptocurrency was inspired by one of the most impressive NFT collections worldwide. Apecoin is designed on the Ethereum blockchain. When you buy APE, you’ll become part of a DAO. Here, you can vote on improvements to the platform. Users will also govern the future direction of the token.
Putting the Family in Dogetti
Dogetti (DETI) is an interesting meme coin that stands out from all its predecessors. This meme coin is hosted on the Ethereum blockchain. However, this cryptocurrency is inspired by Dogecoin (DOGE) and Shiba Inu (SHIB).
Despite being a meme coin, this cryptocurrency has created an active community of users which it refers to as a family. This branding as a family refers to the close-knit nature of the users of this platform. The developers of this community are guaranteed to earn from their involvement in this project.
Dogetti uses its family effect to control its growth and development. Users are expected to vote on future decisions. To vote on Dogetti, you’ll need DETI tokens. There are 100 billion DETI tokens in circulation. 50% of the total supply of this token will be released during the presale. The developers of this token are also committed to offering some of its total supply to charity.
Asides from its DAO, this cryptocurrency also has an additional utility – the creation of NFTs. With DogettiNFTs, users can enjoy a unique side to this project. These NFTs have a unique mafia dog-themed approach.
If Dogetti sounds like the project for you, now is the best time to get buy! For a limited time, as a welcome to investors, they are offering 25% extra tokens on top of your purchase when you use the code WISEGUYS25. Get it before it’s gone.
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