Although the criteria for evaluating digital assets can be very varied, some stand out as they belong to the world of decentralized finance (DeFi) and provide great returns to their investors. Some tokens went up by more than 1000%. Check the winners.
The world has changed at an accelerating rate during the last decades in areas such as technology, commerce, and monetary systems. And blockchain technology is one of the inventions that has generated a profound impact on an economic and social level, to an extent that few would have imagined.
But what is a blockchain or chain of blocks? In short, it is a digital ledger in which transactions and movements made on a particular network are recorded with cryptography. Although this type of technology has been adopted by multiple organizations, it has become popular thanks to cryptocurrencies, including bitcoin (BTC), ether (ETH), and Nominex (NMX).
Cryptocurrencies, also known as digital currencies or tokens, are a digital representation of an asset that uses cryptography to secure transactions, verify the transfer of funds, and control the creation of new units. A particularity of cryptocurrencies is that they are decentralized, that is, they are not issued by any government or central authority. Rather, they are created by private individuals or organizations.
The first cryptocurrency to revolutionize the world was bitcoin, created by a character known as Satoshi Nakamoto in 2009. His goal was to invent a peer-to-peer payment system capable of eluding the control of governments or central banks and to eliminate financial intermediaries. Since then, the growth of digital currencies has not stopped.
Bitcoin was just the beginning. Following its creation, hundreds of tokens have appeared on the market. And we have reached the point where many have decided to tokenize their businesses. The large number of crypto assets created in recent years is only proof that it is necessary to have a free financial system, without restrictions or control by the authorities.
Another aspect that has contributed to the increase in acceptance of digital currencies is their appreciation rate. A clear example of this is bitcoin, whose price went from US$65 in 2013 to reach a historical maximum of approximately US$63,000 in 2021, according to sources such as CoinMarketCap.
Although bitcoin is the most recognized digital currency and its growth is evident, you would be surprised to know that there are tokens with an even higher percentage of profit. And although many tokens have increased their value exponentially, we will analyze some that you probably did not know: Nominex (NMX), PancakeSwap (CAKE), S.Finanzas (SFG), Bella Protocol (BEL), and PerlinX (PERL).
The tokens that have surprised the world
You may be wondering what is special about these tokens in particular, and more if we take into account that there are around 9 thousand different crypto assets. So what about the five we mentioned above? Although the criteria for evaluating digital assets can be very varied, NMX, CAKE, SFG, BEL, and PERL stand out as currencies that belong to the world of decentralized finance (DeFi) and provide great returns to their investors.
Let’s take a closer look at each of these tokens:
Nominex is a relatively new cryptocurrency exchange that is already making its way into the market, competing with other major exchanges. To permanently leave its mark on the ecosystem, Nominex was created with what users want in an exchange in mind.
Some of its most relevant characteristics are:
- The first exchange with a utility token and utility farming.
- When farming you can trade at an incredible 100% discount.
- Earn additional income from the affiliate program.
- After the launch of the Binance Broker Program, it will be possible to trade on Binance for free while farming the NMX token.
But let’s dig deeper into the subject. After researching to increase Nominex’s chances of success, the platform was designed with the following features:
- A combination of the characteristics of centralized and decentralized exchanges. Some of the incentives include zero fees for centralized exchanges and a yield farming program that offers a 404% APY profit.
- Really high withdrawal limits, up to 3 BTC , for new users, without the need for any kind of KYC verification. This limit is higher than other popular exchanges like Binance, which currently has a limit of 2 BTC.
- Nominex users can use Visa or MasterCard cards to trade.
- By trading with NMX, the exchange’s native token, you get a 50% discount on transaction fees .
- There are seven types of trade orders.
- The trading platform offers more than 60 different trading pairs, and the list continues to grow.
- The exchange has smart contracts that were audited by Unhash.io under the supervision of Alexey Makeev, one of the industry’s leading experts, also known for auditing the Aave protocol.
- Withdrawals and staking with NMX will not have commissions.
- Nominex has eight different types of referral bonuses and two types of affiliate farming bonuses.
- The interface of this exchange is one of the most intuitive and user-friendly .
Nominex affiliate program and staking rewards
Nominex has a strong affiliate program designed to reward ecosystem leaders. The uniqueness of this program has made it one of the exchange’s main tests of success. Although most platforms have similar programs, many have a limited number of referrals, unlike Nominex, which allows you to recommend as many people as you want.
This affiliate program is organized in the form of a “binary tree”. What does this mean? If there are two people at level 1, there will be four at level 2, eight at level 3, and so on. For a more detailed explanation of this system, access this video on Youtube.
One of the advantages of this model is that the user will make a profit without too much effort. As noted above, there are eight types of bonuses for the referral program, apart from two affiliate-based performance bonuses. Depending on the trading activity, a person can earn up to 50 thousand USDT in just one week.
A hallmark of the Nominex protocol is the design of the rewards for participation, which can generate up to 550% APY with rewards spread over 70 years. The company has reserved some 193 million NMX tokens for its farming liquidity program. Thus, the possibility of hyperinflation in the system is eliminated, thanks to the distribution of the reward over several decades.
Nominex currently distributes around 8,741 NMX per day, and one-fifth of that number (1,741 NMX) is used for bonuses. Anyone who deposits NMX for staking gets a share of the reward every day. It is possible to accumulate this reward for a longer period, which would increase the earnings by 900%.
The performance of the NMX token
The Nominex (NMX) token is used so that exchange operations on the exchange are carried out quickly and smoothly. It is very useful for paying transaction fees, as well as incentives for referral and farming programs.
Regarding the history of NMX, its launch was in February 2021. It is a decentralized financial token built on the Binance Smart Chain (BSC). Its growth was remarkable from the beginning. This is due in part to its use within the ecosystem, the scalability, and low business transactions of the BSC.
These are some of the advantages of NMX being on the Binance Smart Chain:
- Very low fees, of USD 0.05 in commissions. While the average in networks like Ethereum is USD 15.
- Ultra-fast transaction confirmation, just 3 seconds.
- NMX can be integrated into any Binance Smart Chain compatible DeFi project.
NMX has experienced a 5,000% growth since its original listing. Its price today is USD 6.43 per token. Not bad at all for a digital asset that’s only a few months old, revealing the full potential of NMX in the DeFi world.
NMX’s growth is expected to be even higher thanks to the different initiatives implemented by Nominex, such as trading tournaments. These tournaments are held every few days at the Nominex Arena and have a prize pool of around USD 400. From time to time, larger and higher reward tournaments are also held.
It is a special type of decentralized exchange designed for stablecoin trading. If you’re wondering, stablecoins are tokens whose value is pegged to fiat currencies, such as the US dollar, which reduces the volatility characteristic of cryptocurrencies. S.Finance was created as an alternative to another DeFi protocol called Curve Finance. Its goal was to remove or minimize entry barriers for users from China.
The S.Finance ecosystem is governed by its native token, the SFG, and is used in governance activities including, but not limited to, voting. The SFG is designed as an ERC-20 token and is especially useful for farming or staking. SFGs do not have a private location and are not pre-mined either. To earn them, users must provide liquidity to supported pools.
According to sources such as CoinMarketCap, SFG could reach an APY (Annual Percentage Yield) of 523.65%, although the performance will depend on the pool chosen by the user. S.Finance has a platform with a simple interface, ideal for all types of people. But the highlight of the DeFi ecosystem is the diversity and the ability to choose from a variety of options.
His attempt to maintain transparency by submitting his smart contract for an audit changes everything we thought about the seemingly limited impact of S.Finance’s niche market.
PerlinX is an asset liquidity engine. The project focuses on democratizing asset trading through decentralized liquidity pools and the generation of synthetic assets. Although the PerlinX operating model may seem quite complex to a new user of the decentralized financial ecosystem, the project provides a simplified guide to help anyone get started.
PerlinX works through the PERL token, which has two main uses: generating liquidity and earning incentives, and creating synthetic assets. Regarding the first function, PERL can be used to provide liquidity through participation, as is possible through the Balancer Protocol, which is used by PerlinX liquidity pools. Rewards for providing liquidity can go up to 161.41% APY.
PERL also serves as the main collateral in the creation of synthetic tokens or assets of any kind. While this feature is not yet integrated, according to the PerlinX website, it will certainly represent a change in the company’s strategy.
The PERL token has a lot of potentials, as evidenced by the strong fundamentals of the underlying projects. The PerlinX protocol uses a third-party integration strategy to allow its users to participate in other DeFi protocols. An example of this is its support for Balancer and UMA, although the company promises to add more protocols in the future.
During the year 2020, PERL had an increase in its price of 1,027%. Despite this, it remains a small-cap asset. This could mean that the token has a hidden potential that can only be achieved with further development of the ecosystem and with the implementation of incentives.
Bella Protocol (BEL)
Bella is a decentralized finance protocol that gives users a world of opportunities. Mainly, this protocol aims to take advantage of the shortcomings of other DeFi projects, such as high fees, low speed, and poor user experience. Thus, the platform tries to solve these problems efficiently.
The Bella DeFi suite allows users to deposit and enjoy high-performance arbitrage opportunities that can be on-chain or in the protocol escrow service. Bella and its associated products are automated, have zero gas rates, and feature high performance. According to CoinMarketCap, this return could reach 505% annually.
The protocol includes a wide variety of products, including:
- 1-Click Bella Portal.
- Bella Lending Market.
- Bella Flex Savings.
The Bella 1-Click product is a smart portal to popular DeFi products and serves as a simple yield farming tool. On the other hand, Bella Lending is a decentralized money market with liquidity extraction that can be easily implemented. Regarding the Bella Flex Savings product, it offers a referral bonus and admits tokens from liquidity pools. It works as a bot that helps investors select the highest-performing crypto product.
Bella is powered by BEL, a relatively new token, the value of which has increased by more than 1,000% since its inception to date. This token also has hidden potential, as the broader offering of the protocol has yet to be implemented.
In today’s decentralized ecosystem there are interactions with product offerings that, in most cases, are aimed at ushering in scalability, providing a better user experience, and ensuring productivity across the board. The PancakeSwap protocol and its native token, CAKE, are an example of an ambitious push to gain greater market share among all the decentralized exchanges (DEX) out there.
PancakeSwap is an Automated Market Maker (AMM), a type of decentralized exchange protocol that relies on a mathematical formula to determine the price of assets, built on the Binance Smart Chain (BSC) network. With PancakeSwap, users can trade tokens, provide liquidity through farming, and earn commissions. This protocol has gained popularity since its launch, competing with Uniswap, one of the first protocols built on the Ethereum network.
An advantage of PancakeSwap is that its commissions for transactions and other functions of the platform are low. It is a solid ecosystem, with more than USD 8 billion locked in its liquidity pools. Its main products are as follows:
- Provision of liquidity.
Apart from these products, PancakeSwap also provides an infrastructure through which crypto assets on the Ethereum blockchain can be converted to a BSC-compliant asset. This is key to ensuring compatibility between the two blockchains.
The CAKE token is a high-yield asset. Not only does it support a highly productive mining pool, but its price has also increased by more than 13.283% since November 2020, when it traded at $ 0.198. Its current value is $ 13.96, according to data from CoinMarketCap.
We can conclude that CAKE’s growth is due to its great utility. The token is developed amid a wide variety of incentive programs, including the Collectibles and Team Battle feature, made up of the decentralized exchange. CAKE’s performance over the past 6 months is indicative of the high impact of decentralized finance in the industry.
Today’s digital currency ecosystem is an ever-growing investment niche. Although the purpose of cryptocurrencies is to promote financial freedom around the world, some digital assets fulfill this role better than others.
The five tokens that we have analyzed in this article, SFG, PERL, BEL, CAKE, and NMX, are just a small sample of the vast market for crypto assets. Its high performance is due to the creativity of its developers and the versatility of these coins in their native ecosystem.
The highest performing tokens, particularly CAKE and NMX, are considered to have unique offerings that demonstrate their potential. Especially NMX has made a big impact by being the newest asset among all the mentioned tokens. Without a doubt, the future of the Nominex exchange and its NMX token is promising.
Disclaimer: The information expressed in this article are solely those of the author and do not necessarily reflect the views of CryptoDeFinance. Each and every investment and trading move involves high risk. You should always conduct your own research when making a decision in crypto investment.