Crypto staking protocol, Oryen, has recorded a 110% spike in its token value despite declining markets. The project, which released its first presale in late September, has become a favorite among new and seasoned crypto traders looking for a profitable ICO to invest in.
Earliest investors in $ORY, Oryen’s native token, have gained over 2X following the crypto’s price surge from $0.05 to $0.11 in just six weeks. Considering the plummeting token prices, which have wiped off at least half of the cryptocurrency market cap, $ORY’s blazing performance stands out as arguably the best altcoin this year.
Oryen is giving top cryptocurrencies a run for their money, and some experts think $ORY could reach or even eclipse the levels of projects like Tamadoge and PancakeSwap.
Understanding Oryen Network
The Oryen Network is a BSC-based protocol that integrates an automated staking protocol and other high-performance tools. As a result, users don’t need to lock up their digital assets through the platform and still get paid ultra-high interest in return. Currently, the protocol is running a token presale, where members can buy $ORY, which already saw an astonishing increase of more than 100% for early buyers.
The Oryen protocol deploys multiple mechanisms to maintain a steady surge in $ORY’s value over time. One such way is through the buy-and-sell tax mechanism, which incentivizes investors to hold $ORY instead of selling. As a result, demand for the token builds up and causes the token price to rise.
Another way Oryen sustains a steady value for $ORY is through its low initial token supply. Oryen issued a total of 40 million tokens, thereby offsetting inflation effects. From these mechanisms, $ORY serves as a valuable currency for storing and exchanging value amid price volatility in crypto markets.
Oryen’s developers have also built an anti-whale tax model, which prevents whales from acquiring the majority of the $ORY in circulating supply. This community-based approach ensures that the protocol remains censorship-proof, with governance distributed to each member proportionally.
What is Tamadoge?
Tamadoge is a play-to-earn blockchain platform where players can mint and breed Tamadoge pets as NFTs. The platform allows users to upgrade their pets, battle others on the Tamaverse and earn rewards for their playtime.
Participants receive incentives through Tamadoge’s utility token, $TAMA. Also, the token can be deployed to mint NFTs, upgrade your pets, or settle network fees.
Tamadoge is building an immersive metaverse platform with augmented reality (AR) features.
What is PancakeSwap?
PancakeSwap is a decentralized exchange (DEX) platform that allows users to swap exchange tokens, supply liquidity through farming, and in turn, earn payouts.
The protocol has a built-in automated market maker (AMM), which automatically settles buy and sell orders. This way, the DEX limits slippage for swapping tokens, making it a fast and efficient platform.
PancakeSwap, like Oryen, is built on the BSC and is the leading DEX on the blockchain. Its utility token, $CAKE, is one of crypto’s top coins.
Final Takeaway
Even though $CAKE ranks as a top token and its platform has a comparably larger community, the token value has slipped as it struggles to revitalize the community amid bearish markets. On the other hand, $TAMA has offered its investors only negligible gains since it launched.
Comparing these performances to $ORY’s 110% gains, Oryen Network is well-positioned to take on PancakeSwap and Tamadoge. With the token’s price set to top $0.125 – representing a 150% surge in two months – it will ease past its competition and aim at $TAMA and $CAKE.
Learn More Here
Join Presale: https://presale.oryennetwork.io/register
Website: https://oryennetwork.io/
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Source: https://www.thecoinrepublic.com/2022/11/16/oryen-ico-gains-110-during-bear-markets-can-the-staking-platform-take-on-the-big-guys-like-tamadoge-or-pancakeswap/