Blockchain technology is the crystallization of Satoshi Nakamoto’s finance decentralization dream. It is on account of this technology that the concept of distributed public ledgers for efficient and transparent financial transactions has come to fruition.
But there are many blockchains around now, each with its standard tokenization, approach, infrastructure, and design. Faced with this variety, what would you choose? Would you pick out efficiency and diversity, for example, over innovativeness and emerging popularity? If you are the majority of sharp crypto traders, investors, and enthusiasts, you would decide on a blockchain that has everything to offer, including a host of innovative tokens. This is what the Binance Smart Chain (BSC) is all about.
BSC is one of the newest blockchain networks on the block. The network’s architecture is innovative and flexible, so it accommodates a massive data storage infrastructure and allows transactions to run at the highest speed possible.
BSC is popular not only because it is innovative but also because it supports smart contracts. The governance of the network is also community-based, so it uses the proof-of-staked-authority model to drive operations and transactions.
Quite a number of valuable tokens can be found on BSC. These include the LOTT token (which serves as both the blockchain-traditional transaction token and a gaming token), the BSC-native BNB token (which is one of the top BEP-20 tokens), and many others.
So, we have written this article on the top 10 innovative tokens that were built on BSC and therefore utilize the blockchain’s network features with optimized precision.
BNB is the native token for Binance. Because it is virtually the original token on the BSC network, BNB is one of the most popular tokens in the entire crypto industry. Also, it is the native token of BSC’s sister Blockchain, Beacon, so it has that also.
BNB was an ERC-20 token when it was launched. However, it operates in 3 dimensions: as a BEP-20 on BSC, as a BEP-2 on the Beacon chain, and as an ERC-20 on Ethereum. Thus, for any crypto trader that uses Binance or any other platform associated with BSC, having BNB is a smart decision. You can buy BNB easily on kyrrex.com
LOTT is the native token for Lot.Trade, one of the most innovative contemporary cross-exchange platforms. As the League of Traders platform was designed on a dual-blockchain core consisting of BSC and IPFS (Inter-Planetary File System), LOTT is a BEP20 token with the data flexibility guaranteed by its being built on the IPFS.
The use cases of LOTT reflect the many-varied components of the Lot.Trade platform. So, because the latter is a trading platform, a gaming tournament platform, and a portfolio management platform, LOTT is the central means of exchange, transaction, and investment in the Lot.Trade ecosystem.
So, unlike the majority of tokens on this list, LOTT serves as both a utility token and a governance token. With it, you can participate in crypto tournaments, lend to other members on Lot.Trade, acquire NFTs (non-fungible tokens), etc. To get access to this massive treasure-trove of opportunities, you need to register with Lot.Trade first.
To register with Lot.Trade, use the platform’s registration link. Once you are done, you can start using LOTT.
Trust Wallet is an innovative crypto exchange platform that prioritizes ease of crypto transactions and exchanges, crypto portfolio management, and privacy. The platform’s native token, TWT (Trust Wallet Token) is also just as versatile and fantastic in terms of usage. Also, since the token was designed using BSC’s standard, it has both security and efficiency written into its framework.
Trust Wallet has more than 25 million active users. Thus, owning the native token is a good investment. Upon acquiring this token, you will also be able to exchange on the platform, yes, but you will also be able to manage your crypto trading portfolio. It is a wallet, after all, so you will have no problem integrating the platform and its token with other platforms that you have to use.
CAKE is the token you must keep an eye out for and obtain at all means if you have any interest in making something out of your trading career on PancakeSwap. The token is the built-in means of value storage and transaction on the platform. It also serves as the vehicle of PancakeSwap, underlying virtually every trading operation, thus defining the uniqueness of the decentralized exchange (DEX) platform.
CAKE is positively extensive in usage and peculiarity. According to PancakeSwap, the token has 6 major use cases. These include staking to earn more tokens, purchase of lottery tickets, participation in sales, and even voting. In other words, it serves as both a utility and governance token.
As PancakeSwap is one of the top 3 largest DEX platforms by trading volume (at the time of writing this article), owning CAKE is a fortune waiting to be unleashed. Even without its diverse use cases, its popularity is another reason to acquire and own it.
C98 is one of the most innovative BEP20 tokens ever. As expected, this characteristic of innovativeness is not entirely because of the token itself. The main bite to C98 is that it was created to be the vehicle of exchange, transactions, and operation on Coin 98. And Coin 98 is unquestionably a leading crypto wallet platform, especially when considering DeFi platforms.
C98 gives you unhindered access to all of Coin 98’s rich ecosystem. The ecosystem has aspects for finance management, investments and ventures, network support and operationalization, and others. Each of these aspects is a world on its own, and C98 is the license for access to Coin 98’s virtual worlds.
Also, as Coin 98 has a very wide coverage (operating in more than 150 countries), owning C98 means that you have a solid express privilege and access to the economy of these 150-plus countries. And that is just the peripheral advantage of owning the token. On the platform, you can do the typical token-type operations, but you can also swap tokens, and participate in staking, borrowing, and lending.
LINK is the native token for the innovative decentralized oracle network, Chainlink. Due to the inherent uniqueness of the exchange platform upon which it was designed, LINK is also a unique token, the kind that even businesses that do not yet use blockchains make efforts to acquire.
So, due to the unique role of Chainlink (which is to build a bridge platform between blockchains like BSC, Ethereum, Solana, and Terra and non-blockchain enterprises), LINK is positively prestigious among its peers. Thus, owning the token is tantamount to having an express ticket for which you can get more non-blockchain businesses to participate in crypto transactions.
However, the most appreciated use of LINK is the retrieval and preparation of computations and transactions that are made off blockchains and then recorded. Again, the token serves as a link to the crypto initiated and the yet-to-be initiated.
All of the tokens so far mentioned belong to exchange platforms that are entirely exchange-oriented in design or directly related to that. However, as you probably know, the industry and market of crypto assets have moved beyond simple trading activities. The emergence of NFTs and gamification has also incited new and very innovative developments, including the afore-mentioned LOTT token and MBOX.
MOBOX is one of the more innovative gaming platforms that run on the peculiarities of NFTs. The name of the platform’s token is MBOX, so ownership of this token gives you unhindered access to the stimulating MOBOX playing field and ecosystem.
The value and use cases of MBOX cannot be understood in the same framework as other utility tokens that serve mostly exchange-related purposes. MBOX functions within the play-to-earn framework that is characteristic of NFT gaming platforms, so it is a metaverse. In other words, there are a thousand and one ways you can use to earn money without relying on a crash course on reading tread lines or tweets.
Within the MOBOX platform, MBOX is incredibly versatile. Ownership of it means that you would not have to spend a single penny to obtain gaming rights, buy in-game assets, transact with other crypto traders and gamers, or do any other thing you would want to do.
All in all, MBOX is one of the most innovative and progressive BEP-20 tokens that has come out of the NFT gaming angle of the crypto industry.
CryptoMines is another gaming platform on BSC, except that it was designed with a Sci-Fi angle. Due to the game’s robust and exciting narrative, it is easy for even the most committed crypto trader and gamer to lose themselves in the NFT-saturated gaming terrain. But accessing the rousing landscape and other parts of the virtual environment requires the use of the platform’s token, ETERNAL.
ETERNAL, the name gives it away as a token for something altogether fascinating. In fact, inside all the excitement of dallying with virtual planets, spaceships, and dark matter, CryptoMines promotes the mining of ETERNAL. So, much like the model employed by many other crypto gaming platforms, you can collect the token by taking on new missions to search for it.
ETERNAL’s use cases are diverse despite its seeming lone purpose. Inside the game, you need ETERNAL to live another day. Outside the game (in the real world), you can use the token for the traditional purchases of crypto assets in the metaverse or trade it with other players for other things.
TLM (Trilium) is the token of Alien Worlds, a virtual crypto gaming platform. The token is obtained through missions, so the game is all about mining TLM and NFT cards while adventuring in the DeFi-architecture metaverse.
The ultimate purpose of mining TLM in the metaverse is to have access rights to the NFTs hidden within the virtual gaming environment. So, you can stake the token, use it for governance and voting, and use the cross-chain feature on the platform to take advantage of what blockchains other than BSC (for instance, Ethereum) are offering.
TLM grants you right of entry into the different levels of rarity (6 of them) and shininess (4 of them). Every level is characterized by different fortunes, so increasing the number of TLM tokens you have should be a long-term investment strategy.
SFUND is the native token of Seedify.Fund. According to the platform’s website, SFUND is the token for access to the gaming-focused incubator. Thus, it not only enables its users to transact on the platform but also helps crypto game developers efficiently create virtual gaming environments and projects.
Seedify is an interesting platform in that it is all about gaming. As a result, you will find NFT collectibles on the platforms as easily as you find cryptocurrencies on others. Also, the platform is integrated with its progressives, for instance, PancakeSwap. Consequently, SFUND as the native token has a wide variety of uses on the platform and across it.
All in all, the tokens on BSC are some of the most highly-regarded at the moment. This has to do with the relatively low gas fees on the blockchain, as well as the above-average speed of transactions. Although more blockchains and tokens are developed on an almost daily basis, the majority of these developments are ordinary advancements of the framework already in place.
BSC remains one of the most innovative blockchains so far created. Thus, it is a solid foundation for more forward-thinking and exciting ideas. This is why it is a subject of interest for the development of tokens that are suitable for faster and more efficient crypto transactions, as well as other use cases that we are yet to discover.
On September 3, 2023, Kyrrex celebrated an important milestone: our fifth anniversary. Five years in the dynamic world of cryptocurrency is an achievement that evokes a deep sense of pride. This date holds great importance to us. Over these years, we’ve been deeply committed to our mission, continually iterating and improving for the community.
Throughout this journey, we have strived to develop and introduce features that serve the evolving needs of our users. We have empowered businesses, providing them with the tools they need to launch and operate seamlessly in the crypto space. The introduction of the liquidity hub has ensured that trades are executed with speed and efficiency, creating a reliable trading environment.
Kyrrex's cooperation with the world of sports is a testament to our commitment to excellence. Among our respected ambassadors, we are honored to count elite athletes such as Jorge Martín from MotoGP, Martín Di Nenno, a padel top player, and others. This collaboration is deeply symbolic. These athletes, who stand at the peak of their sports, mirror our relentless passion for perfection.
We also have been part of history, observing meteoric rises in the value of Bitcoin and other cryptocurrencies, navigating through moments of market turbulence, and witnessing the inception and demise of various startups and billion-dollar projects.
As we move forward, our vision for Kyrrex is crystal clear. The roadmap ahead is filled with ambitious plans, from expanding into new markets and acquiring more licenses to introducing more innovative trading projects. Each of these milestones will be realized thanks to the dedication of every team member. Special acknowledgment goes to our CEO, Kevin Plumpton, and the co-founders, Mykhailo Romanenko and Viktor Kochetov, whose leadership and vision guide our journey.
As we turn the page and step into a new chapter of Kyrrex’s story, we begin a fresh countdown, setting our sights on greater horizons.
Here's to the next chapter, to innovation, and to continued success!
Have you ever wondered what makes crypto trading tick? It’s all about liquidity! In this blog post, we will delve into the importance of liquidity in crypto trading and how it compares to traditional finance. Get ready to unlock the secrets of this vital aspect of the trading world.
As in traditional financial markets, liquidity in crypto trading refers to the ease of buying or selling digital assets without significantly affecting their price. The concept of liquidity is crucial for the smooth operation of any market, be it the stock market or the cryptocurrency market. Factors such as market depth and bid-ask spread influence cryptocurrency liquidity, just as they do in stock markets.
A deep market with ample liquidity indicates a healthy market, allowing efficient trading and accurate price discovery. Conversely, low liquidity can pose challenges, such as increased slippage and price volatility, which can discourage investors and hinder market stability.
Market depth refers to the number of buy and sell orders available at different price levels, with higher depth indicating greater liquidity. Increased market depth is indicative of increased liquidity, as it suggests a higher level of trading activity and a more liquid market.
In other words, the more buy and sell orders that exist on the market, the easier it is for traders to execute their transactions efficiently without causing significant price fluctuations.
The bid-ask spread is another crucial indicator of market liquidity in crypto trading. It represents the gap between the highest price a buyer is willing to pay and the lowest price a seller is willing to accept for a given digital asset. A narrower spread is indicative of increased liquidity, as it reflects a higher presence of buyers and sellers in the market.
A tighter spread facilitates faster and more efficient trading of assets at fair prices, ensuring that all market participants can execute their transactions without significant delays or price fluctuations.
Cryptocurrency liquidity is influenced by various factors, including trading volume, market makers, and the regulatory environment. Understanding these factors is essential for traders and investors who wish to make well-informed decisions and navigate the often volatile crypto market with confidence.
Let’s take a closer look at each of these factors and how they impact liquidity in the crypto market.
Trading volume is the amount of assets traded within a specific period of time, with greater volume indicating a higher level of liquidity. Increased trading volume implies heightened trading activity, which in turn suggests a more liquid market.
Identifying digital assets with high trading volume is one way to spot cryptocurrencies with high liquidity, as a large investor base and high trading activity are indicative of increased liquidity.
Market makers play a vital role in providing liquidity in crypto trading. These entities, which can include large banks, brokers, or hedge funds, place buy and sell orders in the market, thus ensuring sufficient liquidity to facilitate efficient trading and maintain price stability.
Market makers continuously quote bid-ask asset prices to keep the spreads within a certain range, making a profit from the bid-ask spread difference. By providing liquidity, market makers contribute to reduced slippage, improved price discovery, and enhanced market efficiency.
The regulatory environment surrounding crypto trading can also have a significant impact on liquidity. Some ways in which regulations can affect liquidity include:
A favorable regulatory environment can encourage participation in the market, thereby increasing liquidity, while stringent regulations can discourage participation and lead to reduced liquidity.
Liquidity providers play a crucial role in the crypto trading ecosystem by ensuring the availability of assets for trading and maintaining stable prices. These entities help to create a more efficient market, allowing traders and investors to execute their transactions without significant delays or price fluctuations.
Let’s explore the different types of liquidity providers and the incentives that encourage them to provide liquidity to the market.
In the crypto trading space, liquidity providers can be:
An example of a centralized exchange liquidity provider is Kyrrex Liquidity Hub which provides improved and centralized liquidity with seamless transaction matching, and a wide variety of cryptocurrencies to exchanges and other crypto platforms. Its features include effortless crypto asset matching, sufficient order book liquidity, high-speed processing, minimized commission costs, and secure custodial storage for clients' funds. Liquidity through the Hub can be deployed directly or through other modes including market maker.
Automated market makers are computer programs that utilize algorithms to facilitate the matching of buyers and sellers, contributing to the overall liquidity of the market.
Liquidity providers can benefit from various incentives in the crypto trading ecosystem. For instance, they can earn transaction fees and token rewards for providing liquidity to trading pairs on exchanges. Additionally, liquidity providers may take advantage of yield farming incentives, which involve providing liquidity to a decentralized exchange or liquidity pool and receiving a share of the pool’s trading fees or rewards in return.
These incentives help to attract and retain liquidity providers, ensuring a stable and efficient market for all participants.
High liquidity in crypto trading offers several advantages for traders and investors alike. With ample liquidity, market participants can enjoy reduced slippage, better price discovery, and increased market efficiency, which are essential for smooth and profitable trading.
In the following sections, we will delve into each of these benefits and discuss their implications for the crypto market.
Reduced slippage is one of the key benefits of high liquidity in crypto trading. With more buyers and sellers in the market, large orders can be executed without significantly impacting the asset’s price, leading to more favorable execution prices for traders.
This is particularly important for investors with sizable positions, as it allows them to enter or exit the market with minimal price impact, thereby maximizing their potential returns.
High liquidity also leads to better price discovery, ensuring that assets are traded at fair market value and preventing potential price manipulation. In a highly liquid market, the presence of more buyers and sellers helps to establish an accurate price for each asset based on market activity.
This is essential for a stable and efficient market, as it allows traders and investors to execute their transactions at prices that accurately reflect the true value of the underlying assets.
Lastly, high liquidity contributes to increased market efficiency, allowing for:
This creates a more favorable trading atmosphere for all market participants.
While high liquidity offers numerous benefits, low liquidity in crypto trading can pose several challenges. These challenges include increased slippage, price volatility, and limited trading opportunities, which can discourage new investors from entering the market and hinder overall market stability.
Let’s take a closer look at each of these challenges and their implications for the crypto trading landscape.
Increased slippage is a common challenge in low-liquidity crypto trading environments. As fewer buyers and sellers are available on the market, large orders can have a significant impact on the asset’s price, resulting in unfavorable execution prices for traders.
This can be particularly detrimental for investors with large positions, as it can erode their potential returns and increase their exposure to market risk.
Low liquidity can also lead to price volatility, as sudden price swings can occur due to low trading volume. Price volatility can be both a blessing and a curse for traders, as it offers potential profit opportunities but also introduces the risk of unpredictable price shifts.
In a low-liquidity market, price volatility can be exacerbated, making it more challenging for traders and investors to navigate the market and execute their transactions with confidence.
Finally, limited trading opportunities can arise from low liquidity in the crypto market. With fewer buyers and sellers available, it can be difficult for traders to find suitable trading opportunities that align with their strategies and risk tolerance.
This can discourage new investors from entering the market and potentially hinder overall market growth and stability.
Crypto trading liquidity shares both similarities and differences with traditional finance, such as stock and forex markets. While both markets rely on liquidity for smooth transactions, price discovery, and market stability, the decentralized nature of crypto markets, the role of liquidity providers, and the impact of regulatory environments set them apart.
Let’s explore these similarities and differences in more detail.
One of the key similarities between crypto trading liquidity and traditional finance is the importance of liquidity for efficient transactions, price determination, and market stability. Both markets, including fiat currencies, operate on the principle of supply and demand, with buyers and sellers interacting to establish the fair market value of assets.
Additionally, both markets experience risks and volatility associated with trading, as well as comparable transaction experiences and user interfaces.
The main difference between crypto trading liquidity and traditional finance lies in the decentralized nature of crypto markets. Unlike traditional finance, crypto markets operate without a central authority or intermediary, relying on a network of interconnected computers to facilitate trading and secure transactions.
Additionally, the role of liquidity providers in crypto trading differs from their role in traditional finance, with liquidity providers in the crypto space including centralized exchanges, decentralized exchanges, and automated market makers.
Lastly, the regulatory environment surrounding crypto trading can have a significant impact on liquidity, with regulations in various countries affecting the availability of assets for trading, as well as the cost and speed of trade execution.
In conclusion, liquidity is a vital aspect of the crypto trading ecosystem, with high liquidity offering numerous benefits such as reduced slippage, better price discovery, and increased market efficiency. Understanding the factors affecting cryptocurrency liquidity, as well as the role of liquidity providers and the similarities and differences between crypto trading liquidity and traditional finance, is crucial for traders and investors looking to navigate the ever-evolving world of digital assets. With this knowledge in hand, you’re now better equipped to make well-informed decisions and capitalize on the exciting opportunities that crypto trading has to offer.
High liquidity in crypto is generally seen as a good sign as it indicates a deep and stable market with low price changes. It also makes it easier to buy and sell digital assets at reasonable prices without having to worry about liquidity issues.
Liquidity in cryptocurrency markets is achieved through the use of order books and market participation. Liquidity pools act as a reserve for digital assets, providing liquidity to speed up transactions for decentralized exchanges (DEX).
Liquidity also refers to the ease with which tokens can be swapped or converted into fiat currencies.
Cryptocurrency liquidity is heavily influenced by trading volume, the presence of market makers and applicable regulations.
Market makers are entities that provide liquidity to the market by placing buy and sell orders. They are usually large financial institutions or professional traders. Regulations can also affect liquidity, as certain jurisdictions may also affect liquidity.
Crypto trading liquidity is different from traditional finance in that it is decentralized, involves liquidity providers, and is subject to varying regulatory environments.
These differences can have a significant impact on the trading experience, from the types of assets available to the speed of transactions. For example, decentralized exchanges are often faster and more secure than centralized exchanges, but they may not offer the same features as centralized exchanges.
Kyrrex keeps pushing boundaries to provide its users with an innovative and comprehensive cryptocurrency trading experience. Recently, we delighted our customers by introducing NEAR and ALGO. Today, we're thrilled to announce another significant addition to our platform – Cardano (ADA).
Cardano is not your average cryptocurrency. Launched in 2017 by Ethereum co-founder Charles Hoskinson, Cardano distinguishes itself from the pack with a unique focus on scientific philosophy and a research-driven approach.
Perhaps one of the most interesting aspects of Cardano is its dual-layer architecture. This structure separates the ledger of account values from the reason why values are moved from one account to the other. This distinction leads to greater security, flexibility, and scalability, making Cardano a promising addition to our platform.
With a market capitalization of approximately $10 billion, Cardano holds a significant position in the cryptocurrency landscape. Of the total supply of 45 billion ADA, around 35 billion are currently in circulation.
As a Kyrrex user, you now have the opportunity to deposit, withdraw, and trade ADA coins directly from your Kyrrex account. Moreover, we're launching the ADA-USDT trading pair, allowing you to effortlessly trade between Cardano and Tether, based on market trends and your personal trading strategy.
To interact with this asset, simply go to your personal Dashboard and select the desired function, such as trading, exchanging, depositing, sending, or storing in the Kyrrex wallet. If you haven't done so already, please register and verify your profile.
While we're excited about adding Cardano, it's just one of many recent developments at Kyrrex. We've successfully undergone another ISO certification, further reinforcing our commitment to security and best business practices. Our ambassadors have recently brought home significant victories at the MotoGP/Moto2 Grand Prix in Germany and Italy. Simultaneously, our ambassadors shone at the World Padel Tour, bringing the Kyrrex brand to the forefront of the sports world.
Looking ahead, we're excited about what the future holds for Kyrrex. We'll continue to expand and refine our platform, incorporating the most innovative and exciting cryptocurrencies and features to provide you with an unparalleled trading experience.
Stay tuned for more updates!