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BTC $44955.03 (-6.6%)
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BCH $571.16 (-10.%)
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BNB $383.16 (-6.6%)
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DOGE $0.21 (-9.0%)

Crypto Trader Names High-Potential Polkadot Defi Projects

Bitcoin trader reveals Polkadot’s most promising DeFi projects

New Zealand-based cryptocurrency trader Lark Davis has introduced top five Polkadot-based decentralized finance (DeFi) projects that have massive profit potential, namely ACA, POLS, PSWAP, GLMR, and BOND.

He also predicts that Polkadot’s price could grow as much as $100 with a market capitalization of $100 billion.

According to Davis, the ACA network will function by providing cross-chain and stablecoin services within the DeFi space. ACA enables Individual users to lend, borrow, and trade as they are strictly governed by a set of principles within the ecosystem.

Separately, alongside the above-mentioned features, ACA offers a utility token payment for transaction fees, stability fees, penalty fees, governance, and enhances solutions for collateral assets.

POLS has also recently been listed on Uniswap. The platform claims to deliver a privacy-oriented password, anonymous and protected pools, and a dynamic swap without the know-your-customer (KYC) approach. In short, traders can exchange assets without having to trust anyone with their funds.

Subsequently, by providing liquidity on the PSWAP protocol, users can use up to 0.3% as a trading fee. Liquidity providers will be incentivized and receive PSWAP as a token. As rewards begin at 100% of burned trading fees, it will drastically be limited to only 35% of burned fees after 5 years.

GLMR tokens will provide cross-chain messaging, pay for smart contract execution, smart contract storage, and to cut off transfer fees within the platform. Also, on-chain governance will be executed throughout the said platform.

Likewise WeChat, BOND enables a peer-to-peer (P2P) instant trading through end-to-end encrypted chat apps. As part of its initiatives, the platform offers three DeFi-like products called Bondswap, Bond Dex, and Bond Protect with a DEX and an innovative escrow service.

Collins Adane is a writer who follows the crypto industry closely. He loves fish stew and Real Madrid. He believes in cryptocurrency’s potential to transform the money landscape in his native country Ghana.