Algorithmic stablecoins are considered a safe and stable store of value. To investors, it sounds like a safe zone from general crypto market pressure until Terra’s UST decoupled in May 2022. Since the drama, Luna Classic has faced criticism. Subsequently, Frax Protocol created the Frax Share token. Still, that didn’t stop Frax Share from leaning in to take the pressure.
Fortunately, Snowfall Protocol’s new cross-chain technology has been widely accepted, and your token is now considered a viable store of value and investment asset. Although Frax Share and Luna Classic are showing signs of recovery, demand for Snowfall Protocol is growing by the second in pre-sale. Read on to learn more about new developments in algorithmic stablecoins and why the Snowfall Protocol is all the rage.
Frax Share sees a 29% increase
Frax Share is the governance token of the Frax Protocol, an ecosystem that combines algorithmic technology with collateral. The platform was created to popularize a scalable and decentralized algorithmic currency that can replace cryptocurrencies like BTC.
Frax share is one of the tokens in the Frax Protocol ecosystem, and is a fractional algorithmic stablecoin with a collateralized side and an algorithm-controlled side. The token can adjust its collateral ratio to the Frax Share value. While Frax Share did benefit from the bullish ride, it fell 90% from the all-time high price of $41.09 in January 2022.
Subsequently, Frax Share changed its ATH price in the hope of rallying higher. The token has gained 29% in the last 24 hours. Its algorithmic stablecoin pair, Luna Classic, has also risen in price. Frax is currently priced at $8.7, roughly 220% higher than the all-time low price.
Luna Classic Crosses $1 Billion Limit Again With Pending Updates
7 months after the deepening drama that rocked Terra UST and Luna, attention turns back to Luna classic after the token hit local highs in May 2022. Luna Classic market cap crosses the $1 market again billion amid upgrade plans.
Terra is a renowned protocol for algorithmic stablecoins, and their UST was one of the best performing stablecoins until it tanked and crashed. However, it is slowly recovering after hitting a market cap of $400 million from $180 million on January 14. So far this year, Luna Classic has gained 25%. The protocol plans to update its software to v1.0.5, and major exchanges have pledged their support. Meanwhile, 6% of the Luna Classic offer was burned to increase its value.
Snowfall Protocol Employ a vesting strategy to protect user funds
While it is unclear whether the price increase of most algorithmic stablecoins can remain stable over time, Snowfall Protocol provides investors with a golden opportunity at a profitable investment for life. The protocol is a multi-chain platform for bridging cryptocurrencies and NFTs from one chain to another.
As an innovative step, Snowfall Protocol aims to build securely and efficiently interconnected interoperable blockchain networks. Snowfall Protocol is a much needed development in the crypto space as it allows over 200 EVM and non-EVM compliant chains to interact with each other.
Snowfall Protocol has raised over $5 million and has implemented several measures to protect investor funds. One of them is the allocation strategy to lock tokens assigned to the protocol team. The vesting period is five years, during which the team may not sell its position. This will further enhance investor faith and confidence in Snowfall Protocol’s mission.
As you can see, the Snowfall Protocol is a great project with great prospects for a brighter future. The Snowfall Protocol token is still up for pre-sale at an undervalued value of $0.191. The token is useful for gaining voting rights and enjoying passive DeFi opportunities within the platform. The demand is increasing and the token is selling faster than speculated. Therefore, now is the best time to fill your portfolio to enjoy 1000x returns.
You, too, can be a part of this life-changing opportunity: sign up and buy $SNW on the Snowfall Protocol pre-sale website.
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This post Frax Stake Up 29%, Pending Luna Classic Updates Could Take It To Over $1 Billion, Snowfall Protocol Employs Vest Strategy To Protect Investor Funds
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