March 22, 2024

Hey Cryptologists!

A new week means new assets are available for trading on our exchange. This roundup is full of promising technology, exciting updates, and tokens to watch. 

Make sure to check out the honorable mentions section at the end!

1. Oraichain ($ORAI) - ORAI/USDT

Topping this week's roundup is Orachain, the industry's first AI-powered oracle and blockchain ecosystem.

Oraichain allows users and smart contracts to request data from AI APIs, with random validators selected to execute said requests. Just this month, the Oraichain Mainnet underwent a major update that focused on the network's block time, reducing it from 5.6 seconds to just 1 second.

Participate in network governance by staking ORAI, or run an AI request while using the token for transaction fees to test out the fascinating combination of AI and blockchain technology.


2. Polygon Ecosystem Token ($POL) - POL/USDT

The runner-up on this week's list is a next-generation native token of a well-known Layer2 scaling solution for Ethereum, Polygon.

POL was introduced as an upgrade to the network's previous native token, MATIC, to enhance the network's tokenomics and governance rights, allowing token holders to participate more fully in Polygon's decision-making process. Most importantly, POL unlocked the network’s ability to offer multiple chain staking via re-staking.

If you have any doubts about where to start when it comes to staking, try POL as with it you can validate multiple chains, increasing the reward you receive while using the same capital.


3. Kyber Network Crystal ($KNC) - KNC/USDT

Third place in this week's roundup goes to KNC, a utility and governance token of Kyber Network, a liquidity hub for multi-chain cryptocurrency trading, and DeFi.

Kyber Network aggregates liquidity from multiple protocols to offer the best trading prices not only to users but also to dApps and aggregators. One of the reasons for Kyber's popularity is that it does not require any personal information or account creation and all of the network’s transactions are on-chain.

Novice traders may be interested in this token as it can be utilized for loans and margin trading on DeFi platforms, or simply stake KNC to earn passive income.


4. Forta ($FORT) - FORT/USDT

In fourth place is Forta, a community-based network of security intel in Web3 that leverages machine learning. A decentralized network of node operators uses detection bots to scan all transactions on the blockchain for outlier transactions and threats.

This is where the FORT token comes into play, as all operators must have at least 2,500 FORT staked, which can be slashed if a validator fails to complete an assigned task.  The developers behind the detection bots must also stake the token to demonstrate the quality of the bot.

Overall, if you want to contribute to the security of the Web3 space, Forta is a great place to start. For example, by holding FORT you can vote for the project’s governance council.


5. Litentry ($LIT) - LIT/USDT

Last but not least is Litentry, a decentralized identity aggregator that allows users to create a cross-chain identity to promote digital identity management in a privacy-preserving context.

The platform aims to give users back full control over their personal data, linking all of their Web3 and Web2 accounts to form a digital identity. There are several use cases for the said identity, the most interesting being Web3 native job markets and soulbound tokens/NFTs.

LIT is Litentry's native token that can be staked in exchange for becoming an identity registrar or can be used to pay fees for credit computation. Overall, it is a great find for those who are concerned about their personal information online.


Honorable Mentions

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Who knows, maybe next week’s Token Roundup will introduce you to your next favourite token!

! Disclaimer

The information provided in this article is for educational and informational purposes only and should not be construed as financial, tax, or legal advice or recommendation. Dealing with virtual currencies involves significant risks, including the potential loss of your investment. We strongly recommend you obtain independent professional advice before making any financial decisions. The products and services offered by Cryptology may not be suitable for all users and may not be available in certain countries or jurisdictions. The promotional materials do not guarantee any specific outcomes or profits from virtual trading. Past performance is not indicative of future results. It is important to read and understand the risks, which are explained in our Risk Disclosure Statement

Tom F.

Tom is one of the content managers here at Cryptology. While still fresh in his career he has been able to firmly place himself within the world of crypto and content creation, producing work for a number of publications including and The Times of Malta newspaper.