The hype around DeFi protocols has driven a lot of excitement and investment over the last few months. DigiToads (TOADS) could set a new course for the crypto market. The question remains: will it impact the market more than SushiSwap (SUSHI)?
Earlier this week, The United States Securities and Exchanges Commission (SEC) served a subpoena on SushiSwap, a decentralized exchange (DEX), and Jared Gary, its chief executive officer (CEO). The SEC said they wanted certain documents related to a case they were investigating.
What is DigiToads (TOADS)?
DigiToads (TOADS) is a web3 game ecosystem on Ethereum. It combines meme coins and gaming elements to create an immersive experience for players and investors. Holders of TOADS, the native token of the platform, can participate in in-game rewards, NFT staking, and trading competitions.
The top 25% of players in the game are rewarded from a prize pool. Meanwhile, winners of on-chain trading competitions receive Platinum Toads, which they can use to trade with the project’s treasury and gain profits.
DigiToads participates in the conservation efforts of the Amazon rainforest and its inhabitants. Therefore, the company will give 2.5% of its annual profits to non-profit organizations (NGOs) dedicated to its preservation and restoration. The initiative also has its line of digital merchandise designed to help raise money for the same cause.
DigiToads’ presale price will start at $0.01 but rise to $0.055 at the end. Some say the project’s prospects make TOAD undervalued.
Features of SushiSwap (SUSHI)
SushiSwap is a decentralized exchange (DEX) on Ethereum that launched in 2020. One of the critical differences between SushiSwap and other DEXs is its use of liquidity pools. Liquidity providers deposit funds into pools, which are then used to facilitate trades on the platform. In return, they receive a portion of the trading fees.
The DEX also introduced the concept of yield farming. Here, users can earn additional rewards for providing liquidity. The platform’s native token, SUSHI, is used for governance and as a reward for liquidity providers.
SushiSwap’s native token, SUSHI, is crucial in the network’s operation and maintenance. Holders have a voice in governance by voting on ideas to enhance the SushiSwap ecosystem.
As a DeFi platform, DigiToads can allow users to earn rewards. Its approach to the play-to-earn (P2E) model and focus on web3 gaming could help the project expand its user base.
Additionally, the deflationary nature of its token supply may help the token grow in the long term.
Use code: FINTECH10 for 10% extra tokens on your next DigiToads purchase.
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