4 min read . Updated: 01 Jun 2022, 06:36 PM IST HT Brand Studio
LOG can be compared to ApeCoin (APE) and Dogecoin (DOGE) as it could follow a similar growth trajectory as a fast-rising cryptocurrency
As the Logarithmic Finance (LOG) presale attracts more investors, many have begun to inquire into its potential as a token. With a lot to offer, LOG can be compared to ApeCoin (APE) and Dogecoin (DOGE) as it could follow a similar growth trajectory as a fast-rising cryptocurrency.
ApeCoin is the native cryptocurrency for the APE ecosystem, built on the Ethereum ecosystem, including the ApeCoin DAO and all services and products utilising APE. Yuga Labs, the creator of the famous Bored Ape Yacht Club (BAYC) NFT collections, adopted APE as the primary token for their new products and services.
The Bored Ape Yacht Club, which started in April 2021, comprises thousands of individual ape NFTs with distinct facial expressions and clothing designs. The concept gained popularity with celebrities like Jimmy Fallon, Justin Bieber, and Paris Hilton investing enormous money in the NFTs.
ApeCoin is managed by the APE Foundation, which administers the decisions of the ApeCoin DAO. The token facilitates the establishment and growth of a decentralised web 3.0 by powering governance, access to items, events, games, and rewards for participating in the community.
You can trade ApeCoin on several exchanges, including Binance, Coinbase, KuCoin, Huobi, Kraken, and more. The company’s market capitalisation is projected at $2.93 billion. Despite being one of the newest cryptocurrencies on the block, it is already ranked 47th in market capitalisation as of April 2022, making it an exceptional example of consistency in product scaling.
Dogecoin is a decentralised peer-to-peer token with a simple product objective of providing a fun, simple, and open-source alternative to Bitcoin.
Dogecoin is traded on Binance Smart Chain due to its low transaction fees, high scalability, and lightning-speed transaction throughput. Many theorise that Dogecoin has little utility in real life; however, its robust following and speculative potential represent its most outstanding features. This is why by May 2022, DOGE recorded a market cap of over $11 billion, making it one of the leading cryptocurrencies in the world. DOGE’s rise to stardom in 2017 and its ability to maintain its huge following is worthy of note.
However, it seems the meme coin has struggled for stability, especially as its value fell by almost 10% in late April, and uncertainties around the recent crypto crash could very well corroborate Motley Fool’s update that DOGE has further dropped by 5% as at the time of writing.
Logarithmic Finance (LOG)
LOG is the governance and utility ERC-20 token of Logarithmic Finance, a new generation swap protocol that continues to attract attention with its excellent infrastructure and vision. The product will offer swap solutions that Web 3.0 technology will need to integrate decentralised finance. Logarithmic Finance is based on Layer-3 swap technology and provides a comprehensive project that performs fast and secure swap transactions for decentralised finance platforms. It supports more than one chain and enhances efficiency for different transactions.
The network leverages the homomorphic encryption crypto technology that enables innovative technologies and ensures that the transactions are safe and secure. LOG is set to join the league of the most secure swap systems in the DeFi universe, as it is already outperforming its alternatives in different aspects, most notably encryption technology.
LOG will create liquidity pools across different blockchain networks, including Ethereum (ETH), Solana (SOL), Polygon (MATIC), Avalanche (AVAX), Binance Smart Chain (BSC), and Tezos (XTZ). The network also allows users to stake a number of LOG tokens and earn rewards or passive income based on the amount of $LOG staked and APR (annual percentage rate) of normal staking. There will be different lock periods and reward rates, and users won’t be able to unstake before the lock-in period ends, after which they get to earn the rewards linearly.
At the core of the network’s operations is interoperability between heterogeneous blockchains and inter-chain communications. The cross-chain integrations will enhance multiple use cases to expand the scope of both innovators and investors on the platform. A case in point is how innovators will get to auction their tokens on Ethereum to the NEO to take advantage of their low transaction fees and scalability. This cross-chain integration will foster P2P transactions across different blockchains as well.
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The reader is further advised that Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.
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