When payouts increase, participants will want to stake more to increase their returns, which creates a constant buy pressure for NMR.įurthermore, as more participants join the platform, some will inevitably make incorrect predictions, which makes the token even scarcer by burning a large part of its supply. Over time, as Numerai grows and returns increase, payouts for the weekly tournaments will also inevitably increase in order to maintain the quality of prediction models high. However, if their predictions are incorrect then their staked NMR is burned. If their predictions are good, the data scientists earn money and their NMR is returned. Numerai users stake NMR tokens on their predictions in order to show that they are confident in their model. Numerai never had an ICO, instead, it initially distributed NMR tokens for free to machine learning experts that were actively using the platform and adding value to it. The project holds weekly tournaments where data scientists compete with each other to produce the best prediction models. Numerai is a crowdsourced hedge fund for machine learning and AI experts. LA currently has a # market capitalization. This issue is widely referred to as the token velocity problem. Cryptocurrency traders don’t actually have to hold the token, but rather just own it for seconds and then sell it again for a different asset. However, how this second token functionality will add value to LA can be questionable. Therefore, if the LAToken exchange is widely adopted, traders may gravitate towards using LA pairs which could create buy pressure if traders don’t immediately sell the LA again for a different coin.įurthermore, users can buy Liquid Asset Backed Tokens (LABT), which are then converted into LA in order to purchase other assets like Ethereum, Real Estate or even artwork. Trading fees for all LA pairs are only 0.05%, this makes the token an interesting consideration for large volume traders. Often as fast as 48 hours after an agreement has been reached. On the contrary to other digital asset exchanges, LAToken is known for listing assets very quickly. It aims to allow users to create and trade cryptocurrencies and also tokens that are tied to real-world assets like shares, real estate, and metals. LAToken is a multi-asset tokenization protocol. Over time, as the user base of the platform continues to grow, we may see a scenario where most tokens are staked and there will be a constant buy pressure on the open market of users willing to join the platform.Īt the time of writing, the coin only has a $1.6 million market capitalization. The staking functionality is crucial for a valuable token since, if successful, it will lock up a large portion of the token supply, thus reducing available tokens on the open market. The BNTY token is mainly used in staking functionalities: Bounty Sheriff staking (already functional), Bounty Hunter staking (Coming soon) and Bounty Host staking (Coming soon). According to the Bounty0x BNTY page, the token is currently being used by Bounty Sheriffs who have to stake it to review work made by Bounty Hunters, and it will soon also allow Bounty Hunters to use it to reduce platform fees and enable Bounty Hosts (companies that post bounties) to stake the token to obtain featured listings. The platform is powered by the BNTY token. The platform already has over 45,000 users according to a recent blog update by the company and there are hundreds of bounties live on the platform. As always, this is not investment advice and please do your own research before making any investments.īounty0x is a cryptocurrency bounty hunting network. We have pulled together 5 coins under a $5 million market cap that already have a working product. In established projects, you can easily see the development progress (if any) and how the team has been communicating with the community since the project launch, this is something you can’t do with many of the new ICOs. Although new blockchain projects are popping up on a daily basis, they are often riskier than existing ones. As the bear market hints at potential signs of recovery, cryptocurrency investors are looking for coins to purchase at a discount due to the irrationally negative sentiment in some cases.Īs the famous wall street saying goes: buy when there is blood on the streets.
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