Leaving the ghosts of 2022 behind, the cryptocurrency market has rung in the New Year on a promising note. With new products in its kitty, the market continues to be a draw for crypto enthusiasts worldwide. While there is never a dull moment in the crypto market, crypto users’ preferences are always changing and the current flavor seems to be cryptocurrencies that can help one do more than just invest. Take the example of HedgeUp, which is a decentralized platform that opens up access to alternative investment products. More cryptocurrency users are opening up to products with multiple uses – be it something as simple as play-to-earn games or as complex as building dApps.
Here’s a look at two cryptocurrency platforms: Chainlink and HedgeUp, which have been drawing users in large numbers because of their versatile functionalities.
HedgeUp: Unleashing the potential of alternative investment products
HedgeUp is a decentralized platform that enables cryptocurrency users to explore alternative investment products like luxury watches, art, aviation, gold, and wine, among others. With HedgeUp, crypto users get to invest in a basket of alternative products which can act as a hedge against market factors like volatility and inflation. Another benefit typically associated with alternative investment products is that can help to diversify one’s portfolio and fetch enhanced returns. According to the research done by the HedgeUp team, by choosing a “basket” of alternative investment products, crypto users can look forward to earning average returns ranging between 28% and 36%.
The platform has also rolled out a native token called HDUP that can be used for a wide range of transactional purposes on the network including staking, accessing rewards, charitable donations, and securing voting rights. The $HDUP Token will be available on presale and its total supply has been capped at 999,000,000 units. While the platform does not levy any taxes on the purchase of the $HDUP Tokens, users should know that the tokens purchased on presale have a vesting period. For instance, if a buyer purchases $HDUP Tokens during presale stages 1-6, the tokens would be locked for three months. If one purchases $HDUP Tokens in presale stages 7 and 8, these tokens will be locked for a month.
A key USP of the HedgeUp platform is its governance structure – HedgeUP DAO which is based on the decentralized organization autonomous (DAO) model which has a community-driven focus. Under the model, community members are encouraged to voice their concerns about the team’s plans for the $HDUP Token. Token holders are entitled to exclusive voting rights and can voice their opinion on operational matters. With HedgeUP DAO, the platform aims to streamline its liquidity allocation and supervise investment baskets while deciding on the best course for ongoing projects with the help of community members.
Crypto analysts have expressed faith in HedgeUp’s utility and long-term growth potential. Not only does it offer protection against economic factors but also opens up a relatively untouched sector like alternative investment products for crypto users.
Galileo Protocol to integrate Chainlink VRF on Polygon
Chainlink is an oracle-based network that supports the deployment of smart contracts on any blockchain network by supplying tamper-proof computations. Its native token $LINK is the main cryptocurrency on the network that is used for meeting all kinds of transactional obligations on the platform. Chainlink ramps up the capabilities of smart contracts by making off-chain computations accessible without compromising with security and agility of the blockchain network. Also, users can easily build new decentralized systems for retrieving data from application programming interfaces and connecting them with existing systems or blockchains.
A key USP of the Chainlink network is the pre-built integrations that it offers for smart contracts. These pre-built and oracles-based solutions are time-tested and can secure billions of smart contracts for dApps. Plus, developers can utilize the network of automation nodes to curb the risks of any kind of manual intervention or centralized servers by automating smart contracts. Recently, Galileo Protocol announced that it will be integrating the Chainlink Verifiable Random Function (VRF) on the Polygon mainnet. Galileo Protocol is a peer-to-peer platform where users can sell, purchase and trade indexed NFTs for physical goods. The integration would help Galileo Protocol in the random selection of prize winners for its genesis mint. To enable more developers to learn critical skills that help them keep up with the latest advancements in blockchain technology, the platform runs a community grants program wherein applicants can secure funding for their Chainlink-based projects. The projects should ideally focus on making on-chain data more accessible, boosting the security of Chainlnk’s node infrastructure and its integration with new systems.
For more information on HedgeUP click the links below:
Presale Sign Up: https://app.hedgeup.io/sign-up
Official Website: https://hedgeup.io
Community Links: https://linktr.ee/hedgeupofficial