Practice used by DeFi enterprises; new cryptocurrency companies with their native asset usually sell units of their maximum supply to eager investors and the general public at a discounted price before the official debut of the company as a way of funding development and allowing the general public to access these decentralized systems.
The buyers of their coins who keep their assets in the staking pool without selling are known as liquidity providers, and the money they have locked there helps the business run smoothly. The liquidity providers also receive rewards for their passive involvement, and as such, they take part in the network’s governance procedures. This process of selling a piece of a project before launch is called an Initial Coin Offering (ICO).
When a firm opens formally, the value of its native coins frequently climbs, driving up market prices significantly.
When combined with their earnings from staking, investors who purchased the currency very early on at its pre-launch price frequently see significant returns in their portfolio. There is no question that many become millionaires because they profited from believing in the cryptocurrency firm and purchasing at a low price.
MATIC and AVAX
This has been demonstrated by the cryptocurrencies MATIC and AVAX. Investors who purchased large quantities of these coins during pre-launch and patiently awaited the debut will experience compounding returns that will propel them into the top 10% of earners in the Defi sector.
The Polygon network’s native currency is called MATIC; it had a pre-launch price of less than one cent, or $0.01, in 2019, and it traded as high as $3.0 in 2021. This implies that anybody who purchased the currency at the floor price would have become a millionaire doing nothing in around two years! Simply purchase coins, then wait.
AVAX, the operational token on the Avalanche network, a cryptocurrency startup founded a few years ago as a proof of stake blockchain platform, traded at a floor price of roughly $2.80. Investors who took advantage of buying at that price are undoubtedly millionaires today, as its price has since traded up to about $145.
Oryen Network
The Oryen Network plans to proceed in the same manner. Given its long-term utility, ORY, the native token of the Oryen Network, a blockchain platform that enables automatic staking for liquidity providers, is now in its pre-launch stage and gaining value weekly.
Given that Oryen’s protocol ensures that liquidity providers will earn an APY of 90%, there are high hopes for the ORY to defy and surpass previous DeFi platforms’ profit records.
The Oryen family will undoubtedly produce a large number of millionaires, but they will be the ones that take advantage of the present initial coin offering to the fullest.
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Source: https://coinpedia.org/press-release/icos-generate-millionaires-matic-and-avax-prove-it-oryen-network-will-be-the-next-one/