How do emerging tokens offer more utility and value to cryptocurrencies? – Firepin (FPRN), NEAR Protocol (NEAR)
As cryptocurrencies are growing fast and hundreds of tokens are created every week, this article seeks to better understand the different types of tokens out there, their different uses and potential values by looking at the Firepin token (FRPN) and the NEAR protocol (NEAR).
Firepin token (FRPN) – integrating different tools in a thriving ecosystem
FIREPIN TOKEN (FRPN) is a new token available to buy on several blockchains which seeks to empower its community and holders. It aims to provide them with new tools in order for them to trade, exchange and interact in the crypto world. In addition to having developed a multi-chain mechanism, which allows users to interact with FRPN on several blockchains thus making the coin accessible to more communities, the Firepin team is developing a swap to facilitate trading and exchanging for the Firepin holders.
In its bid to create a metaverse, which will immerse Firepin holders into a virtual world full of opportunities, the Firepin team is developing an NFT mechanism and marketplace which will allow users to receive NFTs through the Firepin Vault and exchange NFTs which belong to different blockchains on one single platform.
In regard to Firepin’s tokenomics, the token’s max supply is 100,000,000,000 FRPN which will hopefully be available on all blockchains in the future. The token deducts 2% from each buy and sell transaction to redistribute it to all holders. This means that loyal holders are rewarded simply for holding FRPN in their wallets which, if managed well, can be an consistent passive income.
Last but not least, the Firepin team is establishing a decentralised autonomous organisation which harnesses the power of the blockchain to decentralise decision-making and thus empower even more of the community. This ensures the long-term stability of the token and the decisions that are made by the team, which have the aim of being consistently in the best interests of the community and the token.
The NEAR protocol (NEAR) – an integrative and adaptable blockchain
The NEAR protocol (NEAR) whose native coin is NEAR was built by a community of like-minded individuals and developers seeking to simplify and make accessible cryptocurrency blockchains protocols. It is a decentralised and a layer-one blockchain in that its goal is to improve the base protocol itself, making the overall system more scalable.
The NEAR protocol’s team main goal is to make cryptocurrency more accessible, the technology they have developed seeks to reduce the time for each transaction and reduce gas fees attached to those transactions. Moreover, they are developing an interoperable system which means different smart contracts and tools within the NEAR protocol can easily interact with one another, something that is harder to do on Ethereum for instance.
The technology developed by the NEAR protocol creates the perfect environment for developers to create DApps and other smart tools for the NEAR community to use. Its rainbow bridge which facilitates the compatibility of NEAR with Ethereum. The educational programmes the NEAR protocol offers make NEAR one of the most attractive protocol for developers.
This means that the NEAR protocol is seeing hundreds of development projects and tools which create many more opportunities for the blockchain and is predictive of a long-term stability and success for the NEAR token. In this way, the NEAR protocol is one of Ethereum’s main competitors and investors should keep an eye on the development of these tokens.
As crypto will undoubtedly continue growing and different blockchains will emerge, tokens’ utility will become more important for users to both offer them financial tools to guide them. Utility is also a great way to differentiate tokens with use cases, long-term prospects and value compared to tokens that do not have such utilities. Therefore, tokens like NEAR or FRPN will stand out thanks to their use cases, experienced teams and therefore viability for the long-term
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