September 1st, 2022 at 12:56 pm UTC · 3 min read
Decentralized finance is the concept that utilizes peer-to-peer networks to facilitate and manage financial contracts, such as currency, bonds, and derivatives. This allows each party on the network to participate in the creation of a contract without the use of any central authority or intermediary entity, which leads to the release of financial data more quickly and efficiently. Several cryptocurrencies integrate the features of decentralized finance. Metamortals (MORT), Tezos (XTZ), and Algorand (ALGO) are examples of these cryptocurrencies.
Metamortals (MORT) is a blockchain decentralized finance (DeFi) platform that combines saving, earning, and entertainment into one realm of fantasy and adventure. Metamortals (MORT) incorporates the features of Gaming Finance (GameFi) into one platform. This means that users and players can enjoy an awesome experience, while navigating through the game, earning rewards in the process, and carrying out decentralized finance (DeFi) activities like staking, swapping of tokens, yield farming, and much more.
The goal of the Metamortals’ platform is to decrease the obstacles to entry into the lucrative realm of play-to-earn (P2E) games by providing free in-game beginning assets to increase the engagement and revenue of users and players while they play. MORT is the official game token that powers the Metamortals platform. End-users of the MORT token can sell them on decentralized exchanges (DEXs) they are listed on, hold the tokens as an investment for increasing future price, or use them to acquire MORT DAO which is the governance token of the Metamortals platform. The MORT token can be used in the game, traded in exchanges, used to pay transaction fees, used to stake on the platform, and serve as rewards from liquidity farming. Five million MORT tokens will be available for presale.
Tezos (XTZ) is an open-source, decentralized computing platform and blockchain network based on smart contracts. Although similar to Ethereum, Tezos (XTZ) intends to deliver advanced infrastructure that can improve and evolve without ever being at risk of experiencing a hard fork. Participants can get involved in the Tezos network’s governance through a process called “baking”. In baking, these participants stake 8,000 XTZ tokens. XTZ is the native cryptocurrency token of the Tezos network. The Bakers are therefore tasked with voting on proposed changes and alterations to the blockchain’s code in a four-step process that takes nearly 23 days. There are currently 898 billion XTZ tokens in circulation.
Founded by Silvio Micali in 2017, Algorand (ALGO) is a decentralized, blockchain-based protocol that supports a large range of applications. The Algorand (ALGO) protocol intends to create real-world applications that are scalable, secure, and decentralized simultaneously. The protocol utilizes the pure Proof-of-Stake (PoS) consensus mechanism. The Algorand protocol has a foundation known as the Algorand Foundation whose main goal is to ultimately secure the decentralized finance (DeFi) ecosystem on Algorand.
ALGO, the official token of the Algorand protocol, has a total maximum supply of 10 billion ALGO coins and a circulating supply of 6 billion ALGO coins.
These three cryptocurrencies integrate the features of decentralized finance in ways that benefit their respective communities.
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