Gauntlet, a project heavily involved in Uniswap (UNI) governance, recently raised $1 billion during its latest funding round. This could have huge long term implications for the success of Uniswap, though it has currently made little short term impact. But what could this mean for the future of PancakeSwap (CAKE) and Collateral Network (COLT)?
Collateral Network Offers A Great Alternative To DEX’s
With Uniswap and PancakeSwap struggling with current market conditions, Collateral Network (COLT) is making waves following a 40% price increase during its presale.
With the doxxed team having already passed a KYC audit, this innovative new project offers great returns without the risk of many DeFi startups.
Collateral Network looks to reinvent crowdlending using DeFi technology. The platform lets people borrow crypto by using their real-world assets as collateral in order to unlock liquidity.
The platform is bringing physical assets on-chain as an NFT, which can be purchased fractionally by investors. Investors who lend money will then generate a fixed passive income, ensuring both the borrower and lender benefit from the agreement.
Collateral Network is looking to incorporate cross-chain compatibility and enables individuals to borrow against a number of assets, including vintage cars, fine wines, rare whiskeys, luxury watches, and real estate.
The COLT token is currently available for $0.014. Experts believe this will rise to $0.35, offering great returns for bullish investors.
Uniswap Drops By 7.9% In April
Despite the latest Gauntlet updates, Uniswap (UNI) lost 7.9% of its value in April. This decline has been attributed to turbulent market trends after Bitcoin (BTC) passed $30k. While its user base increased, Uniswaps native token crashed during the final two weeks of the month, decreasing from $6.39 to $5.24. This resulted in a 40% decline in Uniswap’s daily trading volume, which hit $44 million on the 28th of April.
As some of the crypto market begins to bounce back, Uniswap (UNI) has followed, with one token selling for $5.49 at the time of writing. Nonetheless, with SEC regulation influencing much of the market, investors are concerned about how long this positive Uniswap trend will last.
PancakeSwap Crashes 24% After Staking Bonuses Are Slashed
While Uniswap decreased in value in April, PancakeSwap has experienced a crash in the last week following the announcement that staking bonuses are going to be reduced.
PancakeSwap is well known for its great passive income options and is used to stake millions worth of crypto every year. However, its latest economic proposal has created much uncertainty amongst PancakeSwap holders. The proposal will reduce PancakeSwap’s inflation rate from over 20% to 3-5%. In theory, this would help support PancakeSwap’s “long-term health.”
However, it would also significantly reduce the amount token stakers can earn on the platform. It is estimated that staking rewards on PancakeSwap could be halved, which has caused the value of PancakeSwap (CAKE) tokens to drop by 24.8% in April.
Find out more about the Collateral Network presale here:
Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.