Logarithmic Finance (LOG) Compared to Convex Finance (CVX) In Market Potential
Today’s cryptocurrency market is filled with thousands of projects that seek to contribute to the growing acceptance of blockchain technology. Several of these projects need to operate on a blockchain network, and most of them resort to the Ethereum (ETH) blockchain. This has caused a problem in the crypto space, and Logarithmic Finance is here to solve it.
The Ethereum (ETH) network has a host of projects running on it that range from Defi to metaverse platforms, among others. As a result, you’ll see several listed tokens being ERC-20 tokens commonly used on the Ethereum network. Unfortunately, this has caused the costs of transactions to go up when swapping/trading crypto assets, minting NFTs, or just building another project atop the network.
The costs required to build on Ethereum have discouraged several crypto enthusiasts with brilliant ideas from executing them. If they eventually source the funds, there’s also no assurance they’ll get investors in their projects. This has created an urgency for a platform that can take on projects like Ethereum, magnet investors, and leverage the powers of Defi at a much-reduced cost.
That platform is Logarithmic Finance. Logarithm Finance aims to become the next-generation decentralized finance and swapping protocol that will allow seamless connectivity and interaction between early-stage blockchain innovators and investors. Logarithmic Finance is on a journey to strengthen and decentralize the liquidity auction fundraising by facilitating the cross-chain movement of tokens between heterogeneous blockchain networks. Eventually establishing a more consistent form of interoperability.
Logarithmic Finance will serve as a secure, non-custodial, and cross-chain environment offering dynamic opportunities to raise funds on any blockchain of your choice. These blockchain networks include the Binance Smart Chain, Polygon, Ethereum, Tezos, Avalanche, Solana, and many more. In addition, users of LOG, the native token of the Logarithmic Finance ecosystem, enjoy staking rewards like you would with Convex Finance. However, that’s not all the features of Logarithmic Finance.
What Features Of Logarithmic Finance (LOG) Make Its Ecosystem Surpass That Of Convex Finance (CVX)?
Convex Finance is an ecosystem that seeks to boost the acceptance of Defi projects through its popular reward system known as staking. CVX tokenizes the Convex Finance ecosystem that helps give boosted rewards for depositing liquidity. The platform has millions of users, which makes its tokens surge and thrive well in the coin market.
However, Logarithmic Finance is the ecosystem that could accommodate a platform like Convex Finance, should there be a LOG user with the idea. Logarithm Finance will not only allow projects to be built on it for reduced costs but also help attract investors who will participate in the project and make your listed token thrive.
You’re not required to do much for an innovator on the platform, as the ecosystem already has laid-out plans for them. However, the project innovators can use Logarithmic Finance to create the pool, specify the auction parameters, and register the pool on the blockchain of choice.
In this stage, the Project Innovator will be able to bring the liquidity for the project before it gets listed on a DEX. For now, the innovators can create the pools for ERC-20 tokens, but the ecosystem will apparently recognize multi-chain token standards in the future.
The creator can then start making the pool by adding the basic details for the tokens (total auctioned supply, accepted crypto for payments, etc.) and defining the auction parameters, swapping ratio, and percentage discount for LOG holders.
The next step is the transactions. The Project Innovator will proceed to register the pool on a particular blockchain network. The innovator can select the blockchain network that best fulfills the requirements of the project and then connect a wallet from the provided options to initiate appropriate transactions.
The last stage is the payment of Fees for the development and maintenance of Logarithmic Finance.
The Logarithmic Finance ecosystem is one that’s explorable and highly scalable. It’s filled with potential to facilitate better blockchain adoption, generate wealth for users, and keep Defi at the center of power in the crypto industry.
Read more: https://dailycoin.com/logarithmic-finance-log-compared-to-convex-finance-cvx-in-market-potential/
Text source: DailyCoin.com
