BYDFi, a crypto exchange based in Singapore, continues to offer new token listings. Some of their recent listings include a gaming token and two DeFi tokens . Bloomberg named BYDFi one of the top 10 crypto exchanges in 2023. The inclusion of this new token continues to strengthen their foundation.
Therefore, let's take a closer look at the three new protocols that BYDFI has listed.
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What is BYDFI?
Before discussing the three tokens that have just been listed on BYDFI, let's get to know what BYDFI is.
BYDFI stands for "Built Your Dream Financial Institution". It is a project or initiative that aims to empower individuals to build their own financial institutions using blockchain technology and related infrastructure.
BYDFI's goal is to provide broader and more inclusive access to financial services, especially in regions or communities where traditional financial services may be difficult to access or limited. By leveraging blockchain technology , BYDFI wants to provide more efficient, transparent and decentralized solutions for financial services, such as loans, exchanges, payments and investments.
Through the "Build Your Dream Financial Institution" concept, BYDFI provides individuals with the opportunity to become active players in creating and managing their own financial institutions, according to their needs and desires. This can be done through the development of applications, smart contracts , or platforms that comply with blockchain and DeFi (Decentralized Finance) principles.
Overall, BYDFI represents a movement to empower individuals and communities to have greater control over their own finances, as well as to promote financial inclusion through the use of blockchain technology.
Pixels ($PIXEL)
With the listing of Pixels ($PIXEL) , BYDFI succeeded in listing the gaming token that is currently popular. As you probably already know, the gaming industry is huge. The CAGR (Compound Annual Growth Rate) is 13.6%. This growth rate is expected to continue until 2030. To clarify, this means the industry is worth $682 billion. So, even if blockchain games only get a small share of this pie, they are still interesting.
There were two events that helped increase the popularity of this game. In September 2023, Pixels migrated from Polygon to the Ronin chain. This is a Web3 gaming specific chain. This chain is run by Sky Mavis, the same team behind the game Axie Infinity. Another driver is the listing on Binance.
Pixels is a web-based farming game that was launched in 2021. The game has continued to develop since then. According to DappRadar, this game has had 646.4 thousand UAW (Unique Wallet Users) or unique wallet users over the last 30 days. This is an impressive increase of 83.4%. BYDFI listed the $PIXEL token at the right time, and you can buy it directly there.
The current price of $PIXEL is $0.52. It has a market capitalization of $402 million. There is a maximum and total supply of 5 billion $PIXEL tokens. However, currently only 771 million are in circulation.
Also Read: Web3 Pixels Game Reaches $2.7 Billion Valuation Post Migration to Ronin
Ronin ($RON)
With Ronin ($RON) , we are still in the blockchain gaming space. Sky Mavis is the team behind Ronin. They also developed the very popular Axie Infinity game. Additionally, they also have the popular Pixels game, as explained above. You may remember that Axie became so popular that it taxed the ETH blockchain so much that they needed to create their own blockchain.
Ronin is an EVM compatible chain built on Ethereum as a sidechain. The chain is famous for its Ronin bridge. This bridge connects Ronin to Ethereum. It is one of the first dedicated gaming chains to launch in February 2021.
However, in March 2022 the Ronin bridge experienced a hack. According to the US Treasury Department, North Korea's Lazarus group was behind this hack. Whoever did it, they made off with $662 million. Some parts of the stolen funds were later recovered. Additionally, Sky Mavis and Ronin is returning money to everyone who lost money in this hack.
In April 2023, the chain switched from PoA (Proof of Authority) to DPoS (Delegated Proof of Stake). This is a consensus mechanism that approves all chain transactions. This also makes the chain more decentralized.
To use the Ronin chain, you need a Ronin browser or mobile wallet. You can use the native token $RON for staking or governance. These tokens are also used to pay gas fees on the chain. The current price of $RON is $2.85. Its market capitalization is $855 million. 300 million of the total and a maximum supply of 1 billion tokens in circulation.
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Jupiter ($JUP)
With Jupiter ($JUP) , we move into the DeFi field. Jupiter is a DEX aggregator. This means Jupiter aggregates prices from various DEXs. As a result, trading on Jupiter can take your assets to more than one DEX. To clarify, Jupiter runs on the Solana chain.
These aggregators use smart routing to get you the best deal. This means it connects all available DEXs and AAMs. Then he started looking for a direct way or using multi-hop routes. That's how it connects Solana tokens, and you get the best swap options.
This platform also uses trade splitting. So, it could be that your trade happens 35% on Orca and 65% on Raydium. This split reflects the best trading price Jupiter could find. Trading % distribution occurs dynamically at any time. This also helps to get the best price available for larger trades. This also helps when liquidity is low among different DEXs.
How to Buy Crypto on Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet . For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH ), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also Read:
Get to know Jupiter (JUP), Solana's DEX Rival Uniswap
Fundamental & Technical Analysis of Maverick Protocol (MAV) Tokens, Dymension (DYM), Ronin (RON)
3 Cryptocurrencies Worth Watching in 2024: Meme Moguls (MGLS), Ronin (RON), and Maker (MKR)
DISCLAIMER : This article is informational in nature and is not an offer or solicitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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