The post Utility Crypto Tokens Like HedgeUp, Uniswap, and Solana Take the Market to New Heights appeared first on Coinpedia Fintech News
The loudest of crypto critics often criticize cryptocurrencies for having no intrinsic value. However, that’s not entirely true. Decentralized finance (DeFi) is built on the back of utility tokens like Uniswap (UNI) and Solana (SOL). And now, a new token has entered the conversation. This is the presale token HedgeUp (HDUP).
Uniswap (UNI): supporting decentralized trading
UNI is the utility token of the decentralized exchange (DEX), Uniswap. This is a revolutionary DEX that introduced the idea of Automated Market Makers (AMMs), which now powers most DEXs in the Web3 ecosystem.
UNI plays a crucial role in the protocol’s own ecosystem. For one, Uniswap (UNI) holders participate in the governance of the protocol. They propose upgrades and vote on any changes and improvements before they are made.
The token is also central to all incentives and rewards programs on Uniswap. For example, Uniswap (UNI) holders are encouraged to become liquidity providers and in exchange for this, they receive rewards in UNI.
So, while speculation has played a role in Uniswap’s current value of $4.95, much of it rests in the fact that Uniswap (UNI) has utility as one of the strongest projects in Web3.
Solana (SOL): powering the Solana blockchain
SOL is the utility token of the Solana blockchain. This is a blockchain protocol that was once referred to as “The Ethereum Killer,” due to its architecture. The network is designed to be a fast, scalable, secure, and cheaper platform for building decentralized applications (dApps) and other DeFi solutions.
Today, Solana (SOL) supports a growing ecosystem of projects and solutions. These include GameFi projects, NFTs, and trading and investment platforms. And, central to all these is the SOL token.
SOL is the main currency of Solana. It is used to pay transaction fees and reward validators who play a crucial role in securing the network. It is also used for governance. Solana (SOL) holders can participate in the governance of the protocol through votes and proposals.
Solana (SOL) is currently trading at $19.40 and is the 10th largest cryptocurrency by market cap.
HedgeUp (HDUP): alternative investments
HDUP will be the utility token of the HedgeUp (HDUP) project. The project is building an ecosystem where its community can invest in alternative assets like precious metals, rare artwork, valuable jewellery, rare drinks, and more.
HedgeUp’s (HDUP) first step is a trading platform that lets people make fractional investments in alternative assets by buying and selling asset-backed NFTs. It is designed to let people invest in products like gold and diamonds starting from as low as $1.
The platform’s internal currency is the HDUP token. Traders will use it to make purchases and pay trading fees. Holders of the HedgeUp (HDUP) token, on the other hand, can also use it as a governance token. They’ll get to make and vote on proposals that determine the overall direction of the project.
HedgeUp (HDUP) is in its presale phase. It is being offered to investors at a discounted price of $0.020.
Follow the links below for more information about HedgeUp (HDUP) presale:
Website | Presale | Telegram | Twitter
Disclaimer: This is a press release post. Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. The image used in this article is for informational purposes only and is provided to us by a third party. Coinpedia should not be held responsible for image copyright issues.
Contact us if you have any issues or concerns. Readers should do their own research before taking any actions related to the company.