Three crypto projects that investors should be watching in this crypto crash are: Frax (FRAX), Convex Finance (CVX), and Supontis Token (PON).
The crypto crash took the market by surprise and ushered in the start of the bear market. With the price slashes occurring across various crypto projects, it is hard for investors to remain calm. Many crypto investors have adopted a capital preserving approach while others are looking to buy the dip. Whatever approach you have adopted, the most important thing is to survive until market conditions become favorable once more.
In addition, the bear market is the perfect opportunity for investors to purchase more crypto tokens at discount prices. There are different investment strategies that can be adopted by investors and this depends on the type of investor that they are. Investors looking to ride out the bear market should ensure that they perform their due diligence before investing in any projects.
Three crypto projects that investors should be watching in this crypto crash are: Frax (FRAX), Convex Finance (CVX), and Supontis Token (PON). These three projects are sure to surpass the market expectations and provide investors with decent returns. Here is a brief summary of each of these projects.
Spreading Its Wings – Frax (FRAX)
Frax (FRAX) is the first fractional-algorithmic stable coin in crypto. It uses a unique combination of crypto collateral and its algorithm to keep its value pegged to $1. The Frax protocol is built on the Ethereum (ETH) blockchain. In addition, its FRAX token uses the ERC-20 token standard. Frax plans to migrate to other blockchains to increase its reach and accessibility in the crypto market. As the first fractional-algorithmic stable coin, FRAX joins a list which previously contained three categories: Fiat backed, Algorithmic, and Over collateralized.
The Frax protocol is an innovation in the stable coin space and uses a best of both world approach to create a stable coin that can sufficiently power the crypto ecosystem. The FXS token is the governance token of its DAO. The protocol is designed to run self-sufficiently with very little interference from its users. Frax is a next generation solution for investors looking for a stable coin they can trust in turbulent market conditions.
Taking Over the DeFi Space – Convex Finance (CVX)
Convex Finance (CVX) is a DEFI protocol that allows users to stake Curve (CRV) tokens in return for boosted CRV rewards. The protocol uses its CVX tokens or cvxCRV to reward CRV stakers. Convex Finance (CVX) allows CRV token holders to unlock more value from their tokens through rewards without sacrificing liquidity. Furthermore, Convex Finance is one of the biggest players in the DEFI space and the battle for curve tokens known as the Curve wars.”
Convex Finance wants to get as many CRV tokens as possible so it can directly influence the interest rates on the Curve protocol. The CRV token is the governance token of the Curve Protocol therefore, the more tokens you have, the larger control you have in its DAO. Convex Finance is in a fierce battle with other protocols looking to lure CRV holders with enough incentives to make them hand over their tokens.
Crossing the Bridge with Supontis Token (PON)
Supontis Token (PON) is a cross-chain bridge protocol built on the Binance Smart Chain. It would connect the Fantom (FTM), Binance (BSC), Tron (TRX), and Ethereum (ETH) blockchains. Supontis would connect these blockchains and enable the seamless movement of assets between one blockchain and another. In addition, it would give users lower fees and fast transactions made possible by the Binance Smart Chain (BSC). Supontis is a next generation decentralized bridging solution that uses cutting edge tech to power its protocol.
PON is the governance and utility token of the platform. The protocol is run by the Supontis DAO and decides on the future of the protocol through voting. Furthermore, PON token holders can stake their tokens to secure the network and through the Supontis protocol’s Proof of Stake (PoS) consensus mechanism.
Check out the links for more on Supontis Token: Website, Presale, Telegram.