Introduction
The world is a changed place when compared to how it was decades ago. The changes can be seen in infrastructure, technology, commerce, monetary systems, and much more. The rate at which development is catching up with the world is dynamic and of the latest inventions that are changing the way we live, blockchain technology appears to be in the lead.
Many people have conceived blockchain technology in different ways based on the use cases they are familiar with. However, blockchain technology is simply a digital ledger where transactions or events are recorded, duplicated, and distributed so that it can be very difficult to alter the data recorded in it. While the design of blockchain technology has been embraced by both private and public organizations today, their most prominent use case is modeled in cryptocurrencies. Examples of these cryptocurrencies include Bitcoin (BTC), Ethereum (ETH), Nominex (NMX), and more.
Cryptocurrencies are also called digital currencies, and under the growing parlance of the cryptocurrency ecosystem, can also be called tokens. Cryptocurrencies are a digital representation of cash. However, they are not issued by the government or central authorities but by private individuals and organizations. Typically, cryptocurrencies are a revolutionary invention first conceived by the man known only by the name, Satoshi Nakamoto. Satoshi created Bitcoin (BTC) in 2009 as a peer-2-peer payment system to bypass the monetary control of central banks or financial intermediaries.
From that point to date, Bitcoin has given birth to many more digital currencies and tokens as many people are now tokenizing their businesses to take advantage of the innovation. Large and by, the diversity in the cryptocurrency ecosystem today is a testament to the long-standing need to embrace financial freedom. Cryptocurrencies and tokens afford this as anyone, anywhere in the world can gain unrestricted access to these assets without needing to answer to the government or authorities.
Another major twist that has enjoined greater embrace is the rate of growth in the prices of these assets. Bitcoin for instance has grown from $65 back in 2013 to more than $55,000 today, representing over 84,776% growth according to crypto market data aggregator, CoinMarketCap. As a flagship cryptocurrency in the world, BTC’s growth is well acclaimed by there are tokens that outshine Bitcoin by percentage gain today.
These tokens with impressive growths are numerous but for this article, an exploration into the following high yield tokens will be made. These tokens include;
- Nominex (NMX)
- PancakeSwap (CAKE)
- Finance (SFG)
- Bella Protocol (BEL)
- PerlinX (PERL), and;
What is Special About these Tokens?
There are over 9,000 cryptocurrencies and tokens around today and each one has its addressable market, and utilities. A part of the considerations for judging the uniqueness of any digital asset out there may be subjective and varied based on different criteria, but NMX, CAKE, SFG, PERL, and BEL are tokens with good decentralized finance (DeFi) features and returns great incentives to their community and investors at large.
Each of these tokens is profiled below, in no particular order;
Nominex (NMX)
Nominex is a relatively new cryptocurrency exchange that is already carving its way up the ladder, in competition with other major exchanges. In a bid to register its foothold in today’s fast-growing cryptocurrency ecosystem, Nominex launched with a clear picture of what people want in a big exchange and designed a framework to offer this and more.
With the research done to enhance the opportunities of Nominex, the platform launched with the following defined pioneering features. These features are described below;
- A combination of the features of both centralized and decentralized exchange offerings. The obvious incentives here include zero fees for centralized exchanges and a yield farming program that pays as much as 550% APY.
- Extra high withdrawal limits of up to 3 BTC for new users who have not undergone the regular Know Your Customer compliance checks. This limit exceeds that for other bigger exchanges such as Binance with a 2 BTC limit.
- Nominex users can fund their purchases using either Visa and Mastercard which guarantees ease of use.
- Users get to benefit from a 50% off transaction fee when using NMX, the exchange’s native token to pay for fees.
- 7 types of trading orders of which the world’s largest exchange
- The Nominex trading platform offers over 60 different types of trading pairs and the count is still growing.
- The Nominex platform has Smart contracts that were audited by io under the supervision of Alexey Makeev, one of the industry’s leading experts, also renowned for auditing the Aave protocol; (view report)
- Withdrawal and staking of NMX come with no fees with a certain amount of the tokens.
- The Nominex exchange offers 8 different types of referral bonuses and two types of referral farming bonuses.
- Atop all these, the Nominex platform is one of the most user-friendly platforms in the space today.
While each of these innovative products and offerings is worth applauding, the Nominex exchange is planning an integration with Binance, through the Binance Broker Program.
With these, all of Binance’s trading pairs will become available on Nominex as well as Binance’s liquidity.
Nominex users will thus have access to the large ecosystem and offerings from Binance while also enjoying the extra incentives from Nominex as described above. Talk about value, the integration with Binance will also open access to semi-automatic trading bots, copy trading, and much more.
Nominex Referral Program and an Almost Lifetime Staking Rewards
The Nominex exchange has a very robust referral program designed to reward ecosystem leaders. In fact, the uniqueness of the referral program remains one of the major success stories of the exchange since its inception. While most exchanges allow for a limited number of referrals, Nominex lets you refer as many people as you want, without any limitation in the number.
The Nominex referral program is organized in the shape of a binary tree, featuring 2 people on level 1, 4 on level 2, 8 on level 3, and so on. A detailed pictorial representation or explanation of this can be found in this YouTube video.
The Nominex referral model grows itself out without much effort on the part of the leader. As noted earlier, there are a whopping eight types of referral bonuses – plus two different yield farming bonuses based on referrals. Depending on the activities on a referrer’s downline, a leader may earn up to 50,000 USDT in a week.
A major hallmark of the Nominex exchange protocol is the design of the staking rewards which can earn users as much as 550% APY with rewards spread over 70 years. The trading platform has set aside as much as 193 million NMX tokens for its liquidity farming program. However, the possibility of the token or the system experiencing hyperinflation will be eliminated due to the multi-decade spread of the reward.
As of today, Nominex distributes about 8,741 NMX a day from the main reward pool, with approximately 1/5th of that number (1,741 NMX) being used as bonuses. Any user who deposits NMX for staking gets a cut of the rewards on a daily basis. This can be accumulated for a longer period and can increase the reward up to 900%.
The NMX Tokens and its Performance
The Nominex (NMX) tokens are used in running a smooth operation on the Nominex exchange, drawing increased utility from its use for paying transaction fees, paying out incentives for referral and farming programs, and much more.
NMX was launched back in February 2021 as a decentralized finance token built on the Binance Smart Chain as a BEP-20 token.
The token has seen remarkable growth since its inception, a massive surge propelled by the utility surrounding it and boosted by the scalability and low trading transactions of the BSC. Among the advantages the Binance Smart Chain gives NMX over other DeFi chains include;
- Hyper low transaction costs of $0.05 in fees against an average of $15 on the Ethereum network.
- Superfast transaction confirmation which takes just 3 seconds, and;
- The ease with which NMX can be integrated into any Binance Smart Chain supported DeFi project which is high in demand at this time.
The NMX token has added all of its backing potentials to surge as much as 5000% growth from its original listing price at a current trading valuation of $5.47 per token. For a token that is barely a few months old, NMX is certainly another hidden potential in the DeFi world.
The growth of NMX will further be boosted by additional initiatives being rolled out by the Nominex exchange including trading tournaments with attached price targets. These tournaments happen once in a few days in the Nominex Arena and it has a prize fund of around $400. Bigger tournaments with a bigger reward are also often featured from time to time.
S.Finance (SFG)
S.Finance is a special type of decentralized exchange that is designed to cater to the trading of stablecoins. Stablecoins are a variety of digital tokens whose value does not change because they are not subjected to the extreme volatilities other cryptocurrencies are known for. S.Finance was created as a fork of another DeFi protocol “Curve Finance” to minimize or eliminate the barrier of entry for Chinese users in particular.
The S.Finance ecosystem is governed by its native token, the SFG tokens, and is used in governance activities including but not limited to voting. The SFG tokens are secured by the Ethereum standard, as it is designed as an ERC-20 token and it finds its major utility when used in yield farming or when staked.
The SFG tokens have no private placement and are also not pre-mined. To earn SFG, users will need to provide liquidity to the supported pools. Only a total of 21 million, with 100% of these based on contribution distribution.
SFG gives a very high yield with an Annual Percentage Yield (APY) which could be as high as 523.65% according to CoinMarketCap. This yield, however, also depends on either of the supporting pools the user picks. S.Finance has a platform that comes with a simple design, making it difficult not to give acclaim to the project developers. However, in today’s cryptocurrency ecosystem, diversity and the ability to be able to pick from a variety of choices is the hallmark of decentralized finance.
The attempt to maintain transparency through the submission of its smart contract for auditing changes the entire narrative about the seemingly limited impact of S.Finance’s niche market.
PerlinX (PERL)
PerlinX prides itself as an asset liquidity engine. The project focuses on democratizing the trading of real-world assets through decentralized liquidity pools and synthetic asset generation. While the PerlinX operational model might sound too complex for a new user to the decentralized finance ecosystem, the project provides a simplified guide to help anyone get started.
PerlinX is governed through the PERL tokens with two major compelling utility or use cases. These include;
- Supply Liquidity and Earn Incentives, and;
- Collateralization and the creation of Synthetic Assets.
In the former use case, PERL can be used to supply liquidity through staking as made possible through the Balancer Protocol that the PerlinX liquidity pools utilize. Rewards are earned for these liquidity provisions with APY that can be as high as 161.41%.
PERL also serves as the major collateralization asset in the creation of synthetic tokens or assets of any kind. While this feature is not yet integrated according to the PerlinX website, it certainly will be a game-changer for the PerlinX DeFi penetration strategy.
As an asset, the PERL tokens have good potentials, as evident in the solid fundamentals of the underlying projects. The PerlinX protocol is utilizing a third-party integration strategy to open its users to other standard DeFi protocols in the space. Examples of these include its support for both Balancer and UMA, with a promise to add additional protocols later on.
Over the past year, PERL has surged over 1,027% and despite the meteoric growth, it remains a low cap token. This can be taken as a sign of hidden potential in the token which can be unlocked only with further ecosystem development and incentives rollout amongst other perks.
Bella Protocol (BEL)
Bella is a decentralized finance protocol that opens users to a whole new world of opportunities. Primarily, the protocol seeks to take advantage of the shortcomings of other DeFi projects bordering on high gas fees, slow speed, and poor user experience to roll out a platform that addresses these issues.
The Bella DeFi suite lets users deposit and enjoy high-yielding arbitrage opportunities which can either be on-chain or through the protocol’s custodial service. The Bella protocol and its associated products are automated, have zero gas fees, and capped with a high yield. Per CoinMarketCap, the yield could be as high as 505% per annum.
The Bella Protocol argues that it represents the BlackRock of Crypto Wealth Management with a wide range of product suites. The products on offer include;
- Bella 1-Click
- Bella Lending, and;
- Bella Flex Savings
The Bella 1-Click is a smart portal for popular DeFi products and serves as a simple yield farming tool. The Bella lending product is a decentralized money market with liquidity mining that can easily be deployed. The lending product offers a referral bonus and supports liquidity pool tokens. The Bella flex savings works like a smart Robo-advisor to help investors select the highest yield from a variety of crypto products with a guarantee of high yield.
The Bella protocol is powered by the BEL tokens, a relatively young token that has surged by over 1000% from inception to date. The tokens also have a hidden potential as the broader offering from the protocol is yet to be rolled out as contained in the project roadmap.
PancakeSwap (CAKE)
In the decentralized ecosystem of today, there are iterations to product offerings which in most cases is aimed at ushering in the appropriate scalability, offer a better user experience, and guarantee productivity across the board. PancakeSwap and its native token, the CAKE, are an example of an ambitious drive to gain a larger market share amongst all decentralized exchanges (DEXs) around.
PancakeSwap is an Automated Money Maker (AMM) and yield farming protocol built on the Binance Smart Chain (BSC) network. With PancakeSwap, users can exchange or swap tokens, provide liquidity through farming and earn fees in return. PancakeSwap has gained tremendous traction since it was launched, competing with only Uniswap, one of the first protocols built atop the Ethereum network.
PancakeSwap’s advantage is its cheaper transaction fee for swaps and other features enabled on the platform. The PancakeSwap ecosystem is robust and the exchange has over $8 billion locked across its liquidity and Syrup pools respectively. PancakeSwap’s core product offerings include but not limited to;
- Swapping,
- Liquidity Provision
- Farming, and;
Besides these products which come with great rewards, PancakeSwap also offers a Bridging infrastructure through which crypto assets on the Ethereum blockchain can be converted into a BSC-supported asset. This Bridge enablement is key in guaranteeing interoperability amongst these two competing blockchains.
The CAKE token, a BEP20 asset is undoubtedly a high-performing DeFi token to date. Besides supporting a highly productive and diverse liquidity mining pool, it has surged by over 13,283% since November 2020 when it traded at $0.198 to its current value of over $26 according to data from CoinMarketCap.
The growth of the token is arguably in the robust utility that was created around it. CAKE finds its way in the wide range of incentivization programs including in the Collectibles and Team Battle feature integrated by the decentralized exchange. The performance of the CAKE token, over the past 6 months is an indication of traction and revolution DeFi is heralding today.
Conclusion
The digital currency ecosystem today is a growing investment niche with diverse assets being rolled out every other day. While cryptocurrencies are a revolutionary effort to being on increased financial equality around the world, the ecosystem presents some digital assets which play this role in a more remarkable way involving their potential return on investments.
The five tokens featured in this article including SFG, PERL, BEL, CAKE, and NMX are just one in a river of many crypto assets, however, they have seen a meteoric rise owing to the creativity of their developers and the versatility of the coin’s utilities in its native ecosystem.
The higher-yielding tokens particularly CAKE and NMX are seen to have unique offerings which speak of their exceptionalities. NMX in particular has over-impressed seeing it is the youngest of the coins profiled. The catch from this is that, the more the features designed to reward its users, the better the likelihood of any project to see increased valuations.
Nominex exchange and its native token NMX are particularly trailing the blaze in this regard and any new height attained both in token price and exchange user count will be a well-deserved one.
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