Crypto Top Picks: Avalanche (AVAX), Polkadot (DOT) & Calyx Token (CLX)

7 April 2022

in DOT

Reading Time: 4 mins read

Avalanche (AVAX), Polkadot (DOT), and Calyx Token (CLX), which has just entered presale, could all be good additions to your portfolio.

While it’s too early to declare the bear market over, cryptocurrency is showing signs of life. The market’s total capitalization has risen about 17% in the last month and a bit to around $2.15 trillion. Let’s look at why these three cryptocurrencies can help the market recover even more in April and beyond.

Avalanche (AVAX)

Avalanche (AVAX) is a blockchain that was launched in 2020 to host dApps, which are programmes that offer on-chain services using self-executing smart contracts. The network is distinguished by its burning mechanism.

Burning a token in crypto involves sending it to an inaccessible address, effectively removing it from circulation. This process, which is similar to stock buybacks, can raise the price of a token by reducing supply for a given level of demand. Because Avalanche (AVAX) burns all transaction fees on its network, the token supply decreases as more people use the platform.

Avalanche (AVAX) has burned nearly 1.2 million AVAX units worth $112 million, according to its official website, burnedavax.com. The AVAX supply is capped at 720 million coins, which means no new coins can be created, enhancing the coin-burning mechanism’s impact. The network can also handle 4,500 transactions per second (TPS), far outpacing the current market leader, Ethereum (ETH) which has a TPS of 15.

Avalanche (AVAX) is the tenth-largest crypto, with a market capitalization of $25 billion. However, due to its respectable technical specifications and deflationary design, the asset still has room to grow.

If you like the sound of Avalanche (AVAX), but want to get in early on a new crypto instead, Automish Coin (ATI) in the first stage of its presale, meaning early holders can gain immensely if the token explodes upon launch. Similar to Avalanche (AVAX), Automish (ATI) also employs a burning mechanism via its automated reflection process.

Automish (ATI) is a multifaceted platform offering a P2E fantasy game and NFT marketplace which rewards its holders extensively, which start for as little as just holding ATI. Moreover, through its reflection process, Automish (ATI) automates buybacks and burns, ensuring the currency develops long-term viability. By reducing supply and increasing the value of ATI tokens in circulation, this has a deflationary effect.

Reflection token owners can stake and generate other yields with their tokens because the mechanism automatically awards bonuses. It works by charging a fixed amount for each transaction, which gets distributed between liquidity pools, marketing and development fees, and ATI master node holders.

Polkadot (DOT)

Polkadot (DOT) is another leading crypto, with a market cap of $22 billion. However, because of its unique approach to dApp development, it’s likely to have more room to expand. The asset’s respectable performance and thriving developer ecosystem are just the cherry on top.

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Polkadot (DOT) has two types of blockchains: its main network (the relay chain) and at least 100 parachains (sub-blockchains) that can be used to build dApps.

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This design allows developers to have more privacy and control over their projects while still benefiting from the main network’s security. In November 2021, Polkadot (DOT) began auctioning off parachain slots, and the platform now has a thriving ecosystem of projects ranging from DeFi to NFTs.

Polkadot’s (DOT) relay chain has a TPS of around 167, which is more than 10 times faster than Ethereum (ETH) but much slower than newer blockchains like Avalanche (AVAX). Polkadot’s (DOT) unique parachain design compensates for its lack of speed by allowing each parachain to function as a separate blockchain, easing congestion issues.

Calyx Token (CLX)

Calyx Token (CLX) is a permissionless, community-driven liquidity protocol that aims to enable multi-chain crypto trading and liquidity sourcing from a variety of liquidity sources to facilitate trading and token swaps at the best possible prices. In other words, like Uniswap (UNI) or PancakeSwap (CAKE), it’s a decentralised exchange platform..

Calyx’s (CLX) instant trade feature, which allows tokens to be swapped in a single transaction, has been one of its most talked-about features. Users don’t have to waste time looking for their preferred token because it offers a wide range of tokens for instant trade. Calyx (CLX) will also offer users the best exchange rate for any token on supported blockchains, removing the need for users to pay exorbitant exchange fees, like with Uniswap (UNI).

Calyx (CLX) will also provide users with a number of ways to earn rewards and diversify their cryptocurrency holdings. Anyone can become a Liquidity Provider or start a pool by donating an equivalent amount of underlying tokens in exchange for LP tokens. By contributing tokens to CalyxSwap’s common liquidity pools, liquidity providers can earn a percentage of swap fees.