On April 22, AscendEX launched staking pledge schemes for five popular currencies at the same time, including the avalanche protocol Avalanche (AVAX), the phenomenal chain game Axie Infinity (AXS), the high-performance public chain Fantom (FTM), and the Layer 2 expansion scheme Polygon (MATIC) and the classic payment network Ripple (XRP), in which the annualized rate of return of the highest pledge exceeds 15%.
In essence, Staking pledge is a kind of cryptocurrency mining, but unlike Bitcoin, Litecoin and other cryptocurrency mining based on the Proof of Work (PoW) consensus mechanism, Staking pledge is usually based on the proof of stake ( PoS) or Proxy Proof of Stake (DPoS) consensus mechanism mining cryptocurrencies. Since the nodes of this type of network have relatively low computing power requirements, new coins can be generated after a period of operation under the condition of pledging a certain amount of tokens. Therefore, participating in Staking pledge can also be simply understood as "deposit coins and generate coins".
With the continuous sublimation of the connotation of DeFi (decentralized finance), the scope of Staking pledge has also been greatly expanded. At present, the cryptocurrencies suitable for staking pledges have begun to break free from the barriers of the network consensus mechanism and develop towards the generalized level of "staking is mining". Therefore, Staking pledge is also considered an important part of the lock-up economy, especially in the "bear market" when the market is sluggish. The stable profitability brought by Staking pledge has been valued by more and more market participants.
Based on the long-term and close observation of the industry market, Summit AscendEX is committed to creating more value opportunities in the closed-loop ecology of "spot, leverage, contract, Staking pledge, DeFi mining" products that have been formed, and adopts a productized approach to meet the needs of the market different needs of users. The new Staking projects selected this time are outstanding in terms of market value performance, development trend, industry popularity, and influence.
Avalanche（AVAX）
As of press time, Avalanche ranks tenth on the list of global encryption projects with a market value of nearly 20 billion US dollars. As an open-source platform, Avalanche builds a new consensus-driven blockchain based on random sampling and metastable decision-making consensus protocols. With this protocol, transactions can be quickly confirmed within seconds, and the network can support thousands of nodes to participate in consensus.
Avalanche is also focusing on building a commercial decentralized finance (DeFi) platform. Different from most DeFi and cross-chain in the current market, through the interoperability structure created by Avalanche, users can use its three-chain model of "transaction + coordination governance + smart contract" to customize the blockchain or digitalize assets under complex rules , and deploy the blockchain according to specific needs.
Axie Infinity（AXS）
As a phenomenon-level blockchain game that is popular all over the world, in the Axie Infinity game ecosystem, the game characters are called Axies (community nickname: Axie). Players can not only use it to participate in the adventure mode to try to fight monsters, but also can PK each other in the arena mode. At the same time, these characters and the land in the game are NFT (non-fungible tokens) that can be fully owned by players and have transaction attributes, which can support players to earn while playing.
Currently, Axie Infinity is in a leading position in the GameFi field. By integrating the concepts of DeFi and NFT, playing games has become a way to directly obtain wealth. In August last year, Axie Infinity achieved a 30-day revenue of US$334 million, far surpassing the US$231 million revenue of "Honor of Kings" in July, creating a bright moment in the history of blockchain games.
Fantom（FTM）
Fantom is a high-performance public chain based on DAG technology and supports smart contracts. The modular Lachesis represents a layer of consensus in the blockchain technology stack and supports access to any distributed ledger. Based on this advantage, Fantom is very flexible in many aspects such as development and application. Developers can even transplant Ethereum-based DApps (distributed applications) to the Fantom Opera main network in a few minutes, and can greatly improve the performance at a low cost. performance.
At the same time, Fantom has strong scalability, and each network built on it is independent of each other, and its performance and stability will not be affected by traffic. In terms of environmental protection and security, Fantom can prevent centralization and save electricity under the action of the proof-of-stake consensus mechanism. In addition, Lachesis can also provide institutional-grade security for distributed networks.
Polygon（MATIC）
Polygon (formerly Matic Network), known as "Ethereum of India", is currently one of the most popular Ethereum expansion projects in the world. Polygon provides a general framework that allows developers to create customized applications, while taking advantage of the security of Ethereum, presents an interoperable network, and links together multiple scaling solutions, such as Zk-rollups, Optimistic-rollups and sidechains.
Compared with Ethereum, Polygon is not inferior in terms of network speed, scalability, or operability. In addition, Polygon also focuses on the layout of chain games and NFT fields. Recently, Polygon released the "Green Manifesto: Smart Contracts with the Earth", planning to invest $20 million to eliminate its carbon impact and achieve negative carbon emissions by 2022.
Ripple（XRP）
As the world's first open payment network, Ripple supports transfers in multiple currencies, including US dollars, euros, renminbi, yen, and bitcoin. RipplePay, a decentralized digital payment system launched by Ripple, was put into use in 2005, aiming to provide a secure payment solution for the global network.
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Summit AscendEX: Promote the evolution of Staking products with innovation
At present, the allocation of encrypted assets has shown diversified needs. Generally speaking, investors continue to accumulate trading experience in the cycle of buying low and selling high through spot transactions. After experimenting with leverage and contract trading, the strategic focus of many mature investors will begin to tilt towards higher-yield and more stable encrypted financial management.
However, traditional staking products still have problems such as liquidity being curbed, it is difficult to resist market risks caused by violent market fluctuations, and there is a freeze period for unstaking, and assets cannot be used again quickly. After researching the pain points of the product, the staking product created by Summit AscendEX not only selects and provides reliable verification nodes for users, but also proposes effective solutions through rule innovation.
Specifically, thanks to the token liquidity pool reserved by AscendEX, users can release it at any time during the pledge period, and the assets can be credited immediately without going through the unlocking period that cannot be redeemed and has no income. In addition, in order to maximize asset utilization, Summit AscendEX supports a variety of pledge assets directly as margin for leveraged or contract transactions, so as to meet the needs of Staking pledge users to participate in other types of transactions at the same time.
In addition, AscendEX's innovative Staking "one-click compound interest" function can support users to automatically convert the earned income into the pledge principal, so as to realize the superimposed growth of income. Not only that, Summit AscendEX will also cooperate with project parties through value evaluation to launch a limited-time Staking pre-experience, and the ultra-high annualized interest rate increase has greatly improved the participation experience of Staking pledge.
As of press time, the Staking pre-experience of projects such as Pollen DeFi (PLN) and MetaShooters (MHUNT) are in progress, and their pledged annualized yields are as high as 634.88% and 171.46% respectively.
Reminder: The above content is compiled from public information and is for reference only and does not constitute any investment advice. Please pay attention to investment risks.
