A tale of three cryptocurrencies – two old and established ones against a powerful newcomer fighting for dominance in the realm of metaverse projects. The Avalanche (AAVE) and Polkadot (DOT) tokens have been holding steady recently, although they are also the rising stars that could interest us a lot. We will carefully review Metacade’s utility token, $MCADE, and understand what is being offered ahead of its upcoming pre-sale.
AAVE – A Blockchain Platform and a Token to Rival with Ethereum
AAVE is the token that belongs to Avalanche, a decentralized lending system where users play the role of borrowers or depositors. The AAVE token is what facilitates transactions – acting as the cryptocurrency behind the platform. Currently, AAVE has a market cap of R$5 billion and an outstanding supply of 14 billion AAVE. The AAVE token also fulfills the function of guaranteeing voting rights on the Avalanche platform. It is used by the Avalanche community to propose and vote on changes that pertain to the platform, and any decisions regarding the Avalanche protocol – similar to other metaverse projects. Each AAVE coin carries with it voting rights equal to one vote, so essentially the more tokens a user has, the more voting power they will have. Since September, we have seen prices stabilize after a volatile period in July and August. After initial highs of around $114 USD, prices appear to have settled around $75-76 USD per token – although whether or not this floor will remain is still open to debate. Given the current pessimistic sentiment, the impression is that prices are unlikely to return to their former all-time highs, but only time can confirm this.
DOT – A Useful Linking Protocol and Token.
In its simplest form, Polkadot is a protocol that allows unrelated blockchains to connect securely, allowing transfers between them. In the past, these transfers often required a certain number of intermediary steps (usually brokers), which increased both the processing time and the fees involved. By trying to centralize the process, Polkadot aims to reduce the overhead (overhead) of these transfers. The Polkadot token (DOT) has several uses, including its usefulness as a governance tool – allowing their owners vote on future developments. It is also used in staking investment, helping to facilitate network checks. The DOT token also has a specialized function – bonding, which is the process of connecting and disconnecting through your network. But of course, it could be argued that it also has utility as an investment opportunity. It currently has a market cap of over R$30 billion and an outstanding supply of over 1.1 billion DOT. While prices are nowhere near their all-time high, they have been stable since early 2022. Currently, the Polkadot does not have any specific plans for expansion. in the future, depending on your community’s ideas to make additions to a system that has essentially run its course.
MCADE – A Utility Token for Metacade
Let’s take a look at Metacade and its MCADE token. From what we’ve learned, it has great potential to become the most exciting metaverse project we’ve seen so far. A relative newcomer to the scene, Metacade has some innovative features that are already interesting at first glance, but, even more importantly, offer a sustainable expansion in the future. Known as the definitive metaverse community on Web3, Metacade imagines an arcade-themed space where crypto fanatics, gamers and developers can freely interact with one another. The platform is focused on exchanging ideas among its users, collaboration on projects and, of course, playing games. One particularly unique aspect is the plan to host multiple metaverse games on the platform. The currency chosen for Metacade is the MCADE token, which has different uses across the platform. There are plans for them to be used in their Play to Earn and Pay to Play arcade suites, entry and reward for championships, funding for community-approved games, and in the future as a potential means of payment for game-related employment opportunities in metaverse. Metacade also intends to use the MCADE token for staking investment – earning an income from verifying transactions on its network, as well as securing voting rights for its community, with plans to transition to a DAO in a phased manner. later development.
What makes MCADE good for the future?
Unlike Polkadot and Avalanche, MCADE is a utility token to which use cases can be easily extended as future Metacade implementations over time. In addition to aspects associated with a virtual arcade, such as multiple titles and integrated game development, MCADE can also potentially be used for transactions linked to advertising or even merchandising on the platform. As the crypto sphere continues to create new protocols and services based on blockchain technology, it is becoming increasingly important to consider the longevity of metaverse projects as they mature. While tokens available on platforms like Avalanche and Polkadot are transformative, it is still worth considering whether their impact is sustainable, and what effect this might have on them as viable investment options. Sound sustainability requires deep levels of innovation, which is why projects like Metacade – which offers a community-focused platform in a high growth sector like games – it’s so interesting. By tightly linking the MCADE token to Metacade’s varied features, there is an inherent level of support built right into the design that is not currently available in DOT or AAVE. We strongly recommend that you take a good look at MCADE to learn more about its exceptional potential.
You can participate in the Metacade pre-sale here.