The best DeFi Cryptos: Uniswap (UNI), PancakeSwap (CAKE), and Mountanaz (MNAZ)
Decentralised finance (DeFi) is rising in the crypto space. Two of the main blockchains are Binance Smart Chain (BSC) and Ethereum (ETH). Although they are both popular blockchains, they offer different experiences to their users. Uniswap (UNI) is the biggest DeFi built on Ethereum. PancakeSwap (CAKE) and Mountanaz (MNAZ) are built on the Binance Smart Chain. All three have comparable uses.
Ethereum (ETH) Blockchain
Ethereum is a decentralised blockchain platform that establishes a peer-to-peer (P2P) network and runs some of the biggest DeFi protocols in the market. Ethereum uses its blockchain to complete various transactions known as smart contracts. This allows users to transact with one another without the need of a third party, whilst still being secure and reliable. This is good because people from all over the world can interact and exchange value safely.
Uniswap is one of the top DeFis within the crypto market. As it is built on Ethereum, users must have an Ethereum wallet and hold some ETH which does require a varying payment in gas fees. Uniswap’s purpose is to keep token trading open to everybody who holds tokens, whilst improving the efficiency of trading by solving liquidity issues.
In 2020, Uniswap created its own governance token, UNI. This was a big move from them as this encouraged profitability potential as well as offering more to their users. Uniswap became the largest DeFi protocol soon after launching in 2018 and generated over $1 billion in revenue in 2021. The majority of this revenue was redistributed to liquidity providers.
What are the Negatives of Using Ethereum?
Despite being so popular, there is one significant con of using the Ethereum blockchain: its gas prices. Every user must hold the ETH token to make transactions, which comes with a gas fee. The value of this fee changes depending on the traffic Ethereum is facing at the current time. If there is a high volume of users attempting to make a transaction, the price will rise significantly, however, if the traffic is low, their fee will be small. This is an issue for many users, as people tend to buy more at a time when they can gain more profit – however, this means they may end up paying huge amounts in gas fees.
Binance Smart Chain (BSC)
BSC is different from Ethereum in the sense that it tackles their largest issue of gas fees. Binance Smart Chain has low gas fees which is good for its users, especially in times when large volumes of people are making transactions all at once.
PancakeSwap is one of Uniswap’s biggest competitors and was initially developed as a clone of Uniswap. It has become BSC’s largest DeFi application, due to its similarities to Uniswap, whilst being cheaper and faster to use as it is built on BSC.
The CAKE token has a lot of utility such as using it to play the lottery, yield farming and more, hence it has done incredibly well. With many interactive options for its users, PancakeSwap has grown significantly over time.
Will Mountanaz (MNAZ) Be the New DeFi to Take Over?
With the new DeFi Mountanaz (MNAZ) release, we can expect big things. Built on the Binance Smart Chain, it will have many benefits that its competitors currently don’t have. With enhanced transaction speeds, low gas fees, and high-level security, users will be able to make trusted transactions with Mountanaz.
As Mountanaz is new to the crypto-space, it presents itself as a financial hub with the intention to make it easier for its users to manage assets, lending, borrowing, earning interest, and staking. With the emphasis on making these transactions easy and fast, there is no doubt that Binance Smart Chain is the best blockchain.
Mountanaz has entered its first presale stage now, this is the time to buy some MNAZ tokens for an easy and quick user experience. In the presale stage investors could be earning the most profits (compared to live market prices).
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