SPONSORED POST*
Shiba Inu (SHIB) is a meme-inspired cryptocurrency launched in 2020 as a rival to Dogecoin (DOGE). However, despite its popularity and hype, SHIB has faced several challenges in retaining its retail investors, who have been attracted by other decentralized finance (DeFi) projects, such as RenQ Finance (RENQ). RenQ Finance is a DeFi platform that offers innovative solutions such as liquidity pools, yield farming, and decentralized governance. RenQ Finance has seen a massive increase in its market capitalization and user base in recent months, while SHIB has experienced a decline in both. Read on to find out why RenQ Finance is winning.
Why Shiba Inu (SHIB) is losing retail investors
One of the main reasons why Shiba Inu (SHIB) is losing retail investors is its lack of utility and innovation. SHIB is an ERC-20 token that runs on the Ethereum blockchain, but it does not offer any unique features or benefits to its holders apart from being a speculative asset. Shiba Inu (SHIB) has no clear roadmap, vision, or use case and relies heavily on social media buzz and celebrity endorsements to maintain its relevance.
Further, even though Shiba Inu (SHIB) made their NFTs accessible, and its Ethereum basis may provide smart-contracting capabilities in the future, Shiba Inu (SHIB) currently has minimal usefulness and no convincing use case.
Another reason why Shiba Inu (SHIB) is losing retail investors is its high inflation and dilution. SHIB has a total supply of one quadrillion tokens, half of which were sent to Ethereum’s founder Vitalik Buterin, who later donated them to various charities and burned them. However, this still leaves hundreds of trillions of tokens in circulation, which makes Shiba Inu (SHIB) very susceptible to price volatility and manipulation. Moreover, Shiba Inu (SHIB) has no mechanism to control its supply or reward its loyal holders, unlike other deflationary or staking tokens.
Why RenQ Finance (RENQ) is attracting retail investors
RenQ Finance (RENQ) is a decentralized finance (DeFi) platform that aims to provide a fast, secure, and scalable solution for cross-chain lending and borrowing. RenQ Finance (RENQ) leverages the power of RenVM, a decentralized network that enables interoperability between blockchains.
RenQ Finance’s (RENQ) multi-chain strategy, which allows for interoperability across multiple blockchain networks, is one of its most notable characteristics. This implies that users may exchange assets from other blockchains without first going through the time-consuming translation process. RenQ Finance (RENQ) is thus a more efficient and user-friendly platform than other decentralized exchanges.
RenQ Finance (RENQ), in addition to its multi-chain strategy, is non-custodial. This means that no third party holds the cash held in users’ wallets. This is a significant benefit over centralized exchanges such as Binance or Coinbase, where customers must entrust their assets to the exchange.
RenQ Finance (RENQ) uses smart contracts and cryptographic proofs to ensure the safety and integrity of the assets locked in its platform. RenQ Finance (RENQ) also has a robust governance system that allows its community to vote on important decisions and proposals.
RenQ Finance (RENQ) constantly develops new features and products to enhance its platform and user experience. For example, RenQ Finance (RENQ) recently launched its own token RENQ, which can be used for governance, staking, rewards, and accessing exclusive benefits on the platform.
Final Thoughts
Shiba Inu (SHIB)is a meme coin that has lost its appeal and momentum among retail investors due to its lack of utility and innovation. On the other hand, RenQ Finance (RENQ) is a DeFi platform that offers a fast, secure, and scalable solution for cross-chain lending and borrowing. RenQ Finance (RENQ) has attracted many retail investors looking for low fees, high returns, high security, and high innovation in the crypto space.
Click Here to Buy RenQ Finance (RENQ) Tokens.
Visit the links below for more information about RenQ Finance (RENQ):
Website: https://renq.io
Whitepaper: https://renq.io/whitepaper.pdf
*This article was paid for. The Cryptonomist did not write the article or test the platform.
Source: https://en.cryptonomist.ch/2023/05/08/investors-side-renq-finance/