Cryptocurrencies turned out to be a shot in the arm of an otherwise flailing financial services industry that was reeling under the effects of the Covid-19 pandemic that had a far-reaching impact on the global economy.
Be it the average investor or global enterprises, cryptocurrencies and other blockchain-based assets like non-fungible tokens have enabled them to move beyond traditional investment options and park their money in an innovative and emerging option.
Moreover, the rally in their cryptocurrency prices and global interest in the digital asset class has helped it carve a niche market for itself. Even leading central banks of the world are testing their luck with cryptocurrencies with tools like central bank digital currencies. For investors eyeing long-term potential, a good starting point would be researching top performers like Keninah Concord (KEN), Binance Coin (BNB), and The Sandbox (SAND).
Keninah Concord (KEN): Fuelling Social Impact With Blockchain-Based Solutions
Built on the Binance Smart Chain (BSC), Keninah Concord (KEN) is a decentralized platform that is driving impact in the non-profit sector by facilitating donations to charitable causes in cryptocurrencies.
The blockchain-powered system has its own native token, KEN, that can be used for all transactional purposes that a user may encounter on the platform – be it staking, earning voting rights, or contributing to the liquidity pool. It is currently available to purchase on presale.
Users should know that freshly minted KEN tokens will have a two-month vesting period. With the capacity to process 160 transactions per second, the platform ensures that donations can reach an organization with a limited wait time.
Moreover, the dedicated payment gateway enables users to convert other cryptocurrencies into the KEN token and then send it to the selected charity. Each user gets a Keninah wallet that enables them to send donations directly to the chosen organization while tracking their usage.
Moreover, Keninah Concord leverages blockchain technology to generate receipts for transactions that are stored on the chain. The move paves the way for more transparency in operations and thereby boosts users’ confidence in the platform and its activities.
Every KEN token comes embedded with a smart contract and charges a 10% fee on every transaction. The total fee collected is broken down into several overheads. For instance, 4% of the total number of tokens collected are redistributed among token holders, and 3% is divided equally among both KEN and BNB token holders and utilized for liquidity pool provisioning.
Lastly, 5% of the fees collected are credited to the Keninah charity wallet, where the funds for donations are stored. The platform will also host a public application programming interface (API) that will enable access to smart contracts and checking account balances. The feature will also allow websites to grant their users permission to view data without installing a Web3 wallet extension.
Binance: A Versatile Crypto Trading Platform
Binance is a decentralized cryptocurrency exchange platform that enables users to trade, swap, buy and sell digital assets like cryptocurrencies and NFTs. It has its own native token, Binance Coin, or BNB, that can be used for a host of transactional purposes like trading, swapping, staking, and earning voting rights, among others.
Users can look forward to trading more than 600 cryptocurrencies on the platform. With over 90 million registered users, Binance boasts of a 24-hour trading volume of $76 billion while charging a transaction fee that is less than $0.10.
The Sandbox (SAND) Launches Bounty Program On Immunefi
The Sandbox (SAND) is a virtual gaming platform where users can play to earn (P2E), creating their own gaming experiences in the metaverse and building decentralized applications (dApps).
It has its own native token, SAND, that comes in handy while dealing with transactional purposes like staking and yield farming, among other options. In a recent development, The Sandbox announced that it had launched a bounty program on Immunefi. Experts flagging crucial security loopholes can look forward to a $20,000 reward.
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