Place/Date: - March 8th, 2023 at 9:00 am UTC · 4 min read
As the market capitalization of the global crypto market crossed $800 billion in the New Year, cryptocurrency users and analysts have been enthusiastic about the industry’s future prospects. An evolving digital payments infrastructure and the rollout of new products have only added to the opportunities represented by the market. With cryptocurrencies like HedgeUp ($HDUP), Polygon ($MATIC), and Gala Games ($GALA), users are able to explore the full potential of decentralized finance (DeFi).
With HedgeUp, cryptocurrency users get to access the market of alternative investment products like luxury watches, wine, art, and gold, among other options. The HedgeUp team has divided these assets into different ‘baskets’. With a mix of different assets, these baskets help in diversifying one’s portfolio while acting as a hedge against market volatility.
The team has also launched a native token called $HDUP, which is used for a wide range of transactional purposes on the network. The $HDUP cryptocurrency can be used for purposes like staking, funding marketing activities, and distributing rewards. If you are interested in purchasing these tokens, you can buy them on presale or from a decentralized exchange. The total supply of these tokens has been fixed at 999,000,000 units. While the platform does not tax the purchase of $HDUP Tokens, it does levy a 5% tax on the sale of these tokens. Also, the tokens bought on presale have a minimum vesting period of one month.
As far as its governance structure goes, HedgeUp has adopted a community-driven focus. Based on the decentralized autonomous organization (DAO) model, HedgeUP DAO encourages community members to present their views about the team’s plans for the token. These members also get additional benefits and rewards for staking their $HDUP tokens during staking events.
Gala Games is a play-to-earn platform where users can participate in a wide array of blockchain-based games to win exciting prizes. What sets it apart is that players get to own whatever they win during the games in a true sense – be it a magical sword or an artifact. These prizes or any status that the user might have inherited is verifiable on the blockchain and users can even trade them with another player. The functioning of all parts of the Gala Games ecosystem is dependent on its node system, which is also owned by players. The ecosystem is composed of over 1,600 player-managed nodes that are supported by users operating from their PCs.
The Gala Games team regularly engages with its Discord community to test ideas and assumptions. Over the years since the launch, Gala Games has put together a thriving community of users whose inputs shape the development of the platform. For facilitating various transactional purposes on the network, Gala Games has also launched a native token called GALA. The platform’s music vertical, GALA Music, recently hit the headlines after one of its artists, Amir Sulaiman, bagged a Grammy nomination.
Polygon is a decentralized platform offering Ethereum-compatible scaling solutions for building dApps under a budget without compromising security. Its native token, $MATIC, is used for various transactional purposes on the network. Its range of scaling solutions has something for everybody – be it public or private blockchains or standalone ones.
Polygon PoS is an Ethereum-compatible sidechain that is secured by a set of permissionless validators, while Polygon Supernets is an end-to-end service for deploying a dedicated blockchain. Another scaling solution that users can access on the network is the Polygon network which is a zk-rollup based on STARK and offers support for smart contracts.
Speaking of zk-rollup, another scaling solution leveraging zero-knowledge cryptography is Polygon Nightfall, which uses additional optimistic roll-ups. Then there is Polygon Zero which has been designed as a scalable EVM-friendly zk-rollup that uses an incredibly fast recursive system.
Polygon recently hit the headlines by announcing that its proposed hard fork would be making upgrades to the network on January 17, 2023. The team maintained that the upgrade would not require users or developers to do anything differently. Rather, it would only amp up the user experience. The hard fork is aimed at bringing down the severity of gas spikes while addressing chain reorganizations in a bid to cut down the time to finality.
For a regular cryptocurrency user, there might not be much difference between the three above-mentioned cryptocurrencies, but if you ask cryptocurrency analysts, they will have a different answer. Among the analysts who have reviewed the three names, many are rooting for HedgeUp because of its higher potential for growth. Not only does it open up a new sector to regular crypto users but it also offers multiple opportunities to earn passive income.
For more information on HedgeUP click the links: Website, Presale, Community links.
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