The NFT race resumed late in 2022, with several projects launching their respective NFT events to weather the bearish storms. Now, the NFT collection launches are becoming even more rampant and new memecoin project Dogetti (DETI) looks to join the competition by challenging Solana (SOL) and PancakeSwap (CAKE) for the most popular NFT marketplaces after its launch. Currently, the token is in its presale phase, and here are some reasons you should be on that presale train.
Solana–Top Choice For NFT Trade
Solana (SOL) has established itself as a top token in the NFT sector with its extensive marketplaces and their progress in the past year. The token launched in 2018 and introduced a new protocol system to the DeFi space, bringing elevated scalability and flexibility to meet users’ demands.
Solana (SOL) runs on a hybrid protocol consisting of a proof of stake and a proof of history protocol. The combination is instrumental to the characteristic cheap gas fees Solana charges per transaction and attracts users to the network. The hybrid protocol also influences the network speed, ensuring each transaction block takes seconds to complete.
Solana (SOL) exists on an independent blockchain, and, like Ethereum, hosts various blockchain elements including tokens, NFT projects, and DApps. NFTs have become the trending commodity in the cryptocurrency market, as most platforms now support or host marketplaces to enable their users to create art from their digital assets.
Solana’s progress in the NFT trade sector has been speedy, as it only started supporting NFTs in 2021. Its marketplaces have generated market capitalization that is now closing in on Ethereum’s epic figures. As of May 2022, Solana ranked second only to Ethereum in the NFT industry, raking up $125 million in less than nine months.
The SOL tokens power the Solana ecosystem, fueling the economy and giving users the right to vote. SOL now sells for $23.85 on CoinMarketCap.
PancakeSwap–BSC Exchange Platform
PancakeSwap (CAKE) is an exchange platform based on the Binance Smart Chain which facilitates coin swap services between users on BSC. The token also supports a wide range of blockchain activities and operates a proof of stake protocol to minimize energy use on the platform.
PancakeSwap’s stake protocol enables its users to contribute their assets to strengthen the platform’s security while they get tokens as rewards. The staked assets also contribute to the liquidity pools, enhancing the exchange services.
PancakeSwap (CAKE) uses Automated Market Makers to determine coin swap rates. The AMMs are programs that monitor market forces to calculate the exchange rates on token pairs on PancakeSwap.
Since PancakeSwap is based on the Binance Smart Chain, its users enjoy faster network performance compared with the Ethereum network. The BSC also charges low transaction fees, which further attracts users to token platforms on the BSC.
PancakeSwap (CAKE) supports NFT creation and trade, permitting its users to generate customized tokens on the marketplace. There are also contests between traders for the most active users, where the winners get NFT rewards in their trading profiles.
CAKE is the official token for the PancakeSwap platform, and it lists for about $4.10.
Dogetti–Join the Presale Train Today!
Dogetti (DETI) is the new kid on the cryptocurrency market looking to break into the NFT trade post-launch. The developers have compiled a host of features that center on promoting users’ welfare and improving the token’s status within the crypto space.
Top of the list among such features is the much-loved NFT trade, which the developers assure us will commence soon after the token launches. The anticipated marketplace will feature pet-themed NFTs that can grow and breed, thus increasing users’ assets after a few years. The NFT marketplace will allow users to create their NFTs from their favorite multimedia content. NFTs also leave room for Metaverse expansions, as the virtual world will provide more uses for NFTs.
Another key blockchain element the Dogetti (DETI) platform will offer is the exchange app, DogettiSwap. DogettiSwap will function like UNISWAP and PancakeSwap, facilitating token swaps between users on the Ethereum network. The exchange will feature a large liquidity pool, thus reducing the transaction charges on coin swaps.
Lastly, Dogetti (DETI) plans to leverage its DAO structure to enhance its popularity within the DeFi space. The developers have designed that the community will have the ultimate decision on protocol changes, especially in terms of the addition of extra features. This move will ensure only user-friendly features get to the protocol, which will increase user participation in the project.
Get your DETI coins today before their prices spike. Click here to access the presale page.