Blockchain Gaming: Pipedream or Prophesy?

Technical Analysis: GMT, DOT, BTT, BAT, FLUX and FIL Price Prediction (June - W3)

Technical Analysis: GMT, DOT, BTT, BAT, FLUX and FIL Price Prediction (June - W2)

Technical Analysis: GMT, DOT, BTT, BAT, FLUX and FIL Price Prediction (May-W3)

Technical Analysis: GMT, DOT, BTT, BAT, FLUX and FIL Price Prediction (May-W1)

Learn more in our [deep dive on GMT](https://coinmarketcap.com/alexandria/article/what-is-stepn-gmt-token-features-tokenomics-and-price-prediction) on CoinMarketCap Alexandria.

Check out the [technical analysis of GMT price](https://coinmarketcap.com/alexandria/article/technical-analysis-stepn-gmt-price-prediction) and where it’s headed.


## What Is GMT?

[GMT](https://coinmarketcap.com/currencies/green-metaverse-token/) is the native token of the FSL ecosystem, with a fixed supply of 6 billion tokens. GMT is well used in all FSL ecosystem products to be burned, used to unlock various functions and perks.


## What Makes FSL Unique?

Find Satoshi Lab (FSL) is a fast growing web3 product development studio. We believe in building a range of enjoyable web3 products that are close to people’s lives. FSL aims to accelerate the world’s transition to web3. FLS's product suite includes STEPN, MOOAR, Gas Hero, and DOOAR.

STEPN is a Web3 app that combines Game-Fi and Social-Fi elements, focusing on encouraging people to move more. Users equip NFT Sneakers to walk, jog, or run outdoors, earning tokens and mystery boxes. STEPN's goal is to promote a healthier lifestyle, help fight climate change, and introduce people to Web3.

MOOAR is a multi-chain NFT marketplace that rewards trading in a fun and gamified way. By engaging in trading activities and earning XP, members can acquire MOOAR Boxes. These boxes contain shards, which can be used to unlock Bluechip NFTs or traded with other users. Unlock additional perks by becoming a MOOAR+ member and delve into the enhanced experience of MOOAR.

Gas Hero is a web3 strategy game with social elements that utilizes the FSL ecosystem token, GMT. The game incorporates Hero NFTs that can be equipped with weapons and pets, allowing players to embark on adventures and earn in-game assets. Join the battle for power, wealth, and glory in this exciting gaming experience.

DOOAR utilizes smart contract technology to trade cryptocurrency without external custodians, that facilitates the liquidity and transactions within the FSL ecosystem. DOOAR is supported by a 1% trading fee, which is used to support the FSL ecosystem to facilitate its growth and development.


## Who Are the Founders of FSL?

FSL was founded in August 2021 by Australian blockchain entrepreneur [Yawn Rong](https://www.linkedin.com/in/yawn-rong-4b4b1861/). Mr. Rong has previously founded Crypto SA, an Australian crypto fund and pro-regulation auditor, and has served as an ambassador for [Algorand](https://coinmarketcap.com/currencies/algorand/) and as an industry representative of the South Australian Blockchain Association. He founded STEPN with his neighbor and partner [Jerry Huang](https://www.linkedin.com/in/jerry2046), a game developer and former founder of Falafel Games.

FSL raised a significant $5 million seed round from some of the biggest [crypto venture capital firms](https://coinmarketcap.com/alexandria/article/what-are-the-top-crypto-venture-capital-firms) like Sequoia Capital, Folius Ventures, Solana Capital, Alameda Research, 6th Man Ventures, DeFi Alliance and several others. Several notable angel investors include [Santiago R Santos](https://twitter.com/santiagoroel) and Asia Partner of Republic Zhen Cao.


## Related Pages:

Check out [Solana (SOL)](https://coinmarketcap.com/currencies/solana/) — the high-speed blockchain powering Audius.

Check out [Solar (SXP)](https://coinmarketcap.com/currencies/sxp/) — a bridge between fiat and cryptocurrency.

Read our [beginner’s guide to trading futures on Binance.](https://coinmarketcap.com/alexandria/article/trading-futures-on-binance-a-complete-guide-for-beginners)

Get the latest crypto news and latest trading insights with the [CoinMarketCap blog](https://coinmarketcap.com/alexandria/categories/blog).


## How Many STEPN (GMT) Coins Are There in Circulation?

GMT has a [total supply](https://coinmarketcap.com/alexandria/glossary/total-supply) of 6 billion and is distributed as follows:



* Move and Earn: 30%
* Ecosystem and treasury: 30%
* Private sale: 16.3%
* Launchpad sale: 7%
* Team :14.2%
* Advisors: 2.5%


## Where Can You Buy GMT?

GMT is available on [Binance](https://coinmarketcap.com/exchanges/binance/), [OKX](https://coinmarketcap.com/exchanges/okx/), [Bybit](https://coinmarketcap.com/exchanges/bybit/), [CoinTiger](https://coinmarketcap.com/exchanges/cointiger/) and more.

Check out the [market pairs page](https://coinmarketcap.com/currencies/green-metaverse-token/markets/) directly on CoinMarketCap.

Learn more about how to buy STEPN, Bitcoin and other cryptocurrencies on CoinMarketCap’s educational portal — [Alexandria](https://coinmarketcap.com/alexandria/).

MetaMask

Binance Chain Wallet

SolFlare

Backpack

Phantom

STEPN is a Web3 lifestyle app with game-fi and social-fi elements. Our mission is to nudge millions to a healthy lifestyle while connecting them to Web3.

Stepn

ApeCoin is an ERC-20 governance and utility token used within the APE Ecosystem to empower and incentivize a decentralized community building at the forefront of web3.

ApeCoin holders govern themselves via the decentralized governance framework controlling the ApeCoin DAO, and vote on how the ApeCoin DAO Ecosystem Fund should be used. The APE Foundation administers proposals agreed upon by ApeCoin holders.

ApeCoin

Solana is a highly functional open source project that banks on blockchain technology’s permissionless nature to provide decentralized finance (DeFi) solutions. While the idea and initial work on the project began in 2017, Solana was officially launched in March 2020 by the Solana Foundation with headquarters in Geneva, Switzerland.

To learn more about this project, check out our deep dive of Solana.

The Solana protocol is designed to facilitate decentralized app (DApp) creation. It aims to improve scalability by introducing a proof-of-history (PoH) consensus combined with the underlying proof-of-stake (PoS) consensus of the blockchain.

Because of the innovative hybrid consensus model, Solana enjoys interest from small-time traders and institutional traders alike. A significant focus for the Solana Foundation is to make decentralized finance accessible on a larger scale.

Solana

Launched in 2011 by Pixowl, The Sandbox is a blockchain-based virtual world allowing users to create, build, buy and sell digital assets in the form of a game. By combining the powers of decentralized autonomous organizations (DAO) and non-fungible tokens (NFTs), the Sandbox creates a decentralized platform for a thriving gaming community.

According to the official whitepaper, the Sandbox platform’s main mission is to introduce blockchain technology in mainstream gaming successfully. The platform focuses on facilitating a creative “play-to-earn” model, which allows users to be both creators and gamers simultaneously. The Sandbox employs the powers of blockchain technology by introducing the SAND utility token, which facilitates transactions on the platform.

The Sandbox

Gala is a web3 ecosystem powered by a layer-1 blockchain (GalaChain) built to power the Gala entertainment ecosystem that originally included Gala Games, Gala Music and Gala Film. More recently however, GalaChain has opened its doors to external developers and projects from any applicable industry, providing open source developer resources to simplify the process.

On a mission to empower users and creators across multiple industries throughout the world, Gala’s goal is to become the first billion user blockchain in the world. Innovators can extend the benefits of web3 to their users and communities more easily than ever before by leveraging open source tools like the GalaChain SDK and Creator Portal.

By elevating their ideas to web3 through GalaChain, developers can create custom tokens, smart contracts, reward opportunities and node networks for their communities and projects. Assets built on GalaChain can also be bridged to other blockchains, such as Ethereum, Binance Smart Chain and more. Developers who wish to learn more about getting involved with GalaChain are welcome to reach out via GalaChain.com.

The core of GalaChain is powered by its DePIN (Decentralized Physical Infrastructure Network) of Founder’s Nodes, whose operators earn daily $GALA rewards for actively providing resources to the ecosystem and enjoy governance voting rights on certain core Gala decisions. In addition to the Founder’s Node network’s foundational workload, individual projects can also create Node networks on GalaChain with more specific workloads.

Gala.com
News.Gala.com
Games.Gala.com
Music.Gala.com
Film.Gala.com

Gala

Axie Infinity is a blockchain-based trading and battling game that is partially owned and operated by its players.

To learn more about this project, check out our deep dive of Axie Infinity.

Inspired by popular games like Pokémon and Tamagotchi, Axie Infinity allows players to collect, breed, raise, battle and trade token-based creatures known as Axies.

These Axies can take various forms, and there are more than 500 different body parts available, including aquatic, beast, bird, bug, plant and reptile parts. Parts from each type class come in four different rarity scales: common, rare, ultra rare and legendary — and Axies can have any combination of body parts, making them highly variable and often rare and unique.

Each Axie is a non-fungible token (NFT) with different attributes and strengths and can be entered into 3v3 battles, with the winning team earning more experience (exp) points that are used to level up an Axie's stats or evolve their body parts. These Axies can be bred together to produce new and unique offspring, which can be used or sold on the Axie marketplace.

The Axie Infinity ecosystem also has its own unique governance token, known as Axie Infinity Shards (AXS). These are used to participate in key governance votes and will give holders a say in how funds in the Axie Community Treasury are spent.

Axie Infinity

Terra is a blockchain protocol that uses fiat-pegged stablecoins to power price-stable global payments systems. According to its white paper, Terra combines the price stability and wide adoption of fiat currencies with the censorship-resistance of Bitcoin (BTC) and offers fast and affordable settlements.

Development on Terra began in January 2018, and its mainnet officially launched in April 2019. As of September 2021, it offers stablecoins pegged to the U.S. dollar, South Korean won, Mongolian tugrik and the International Monetary Fund's Special Drawing Rights basket of currencies — and it intends to roll out additional options.

On May 28, 2022, the genesis block of the new chain was launched to conduct future transactions under the name Terra (LUNA), and the original Terra Chain was rebranded as Terra Classic. The original native token — LUNA has also been renamed as LUNA Classic (LUNC). Moreover, all network stablecoins (UST, KRT, EUT) have been renamed to Terra Classic stablecoins (USTC, KRTC, EUTC). There will be no Terra stablecoins on the new chain.

There is a theory that the additional term “classic” is a reference to the Ethereum / Ethereum Classic split in 2017. According to CEO, Do Kwon, the collapse of UST in the spring of 2022 is the equivalent moment of the Ethereum’s DAO hack that took place in 2017.

Terra Classic

Polygon (previously Matic Network) is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building multiple types of applications.

To learn more about this project, check out our deep dive of Polygon Matic.

Using Polygon, one can create optimistic rollup chains, ZK rollup chains, stand alone chains or any other kind of infra required by the developer.

Polygon effectively transforms Ethereum into a full-fledged multi-chain system (aka Internet of Blockchains). This multi-chain system is akin to other ones such as Polkadot, Cosmos, Avalanche etc. with the advantages of Ethereum’s security, vibrant ecosystem and openness.

The $MATIC token will continue to exist and will play an increasingly important role, securing the system and enabling governance.

Polygon (formerly Matic Network) is a Layer 2 scaling solution backed by Binance and Coinbase. The project seeks to stimulate mass adoption of cryptocurrencies by resolving the problems of scalability on many blockchains.

Polygon combines the Plasma Framework and the proof-of-stake blockchain architecture. The Plasma framework used by Polygon as proposed by the co-founder of Ethereum, Vitalik Buterin, allows for the easy execution of scalable and autonomous smart contracts.

Nothing will change for the existing ecosystem built on the Plasma-POS chain. With Polygon, new features are being built around the existing proven technology to expand the ability to cater to diverse needs from the developer ecosystem. Polygon will continue to develop the core technology so that it can scale to a larger ecosystem.

Polygon boasts of up to 65,000 transactions per second on a single side chain, along with a respectable block confirmation time of less than two seconds. The framework also allows for the creation of globally available decentralized financial applications on a single foundational blockchain.

The Plasma framework gives Polygon the potential of housing an unlimited number of decentralized applications on their infrastructure without experiencing the normal drawbacks common on proof-of-work blockchains. So far, Polygon has attracted more than 50 DApps to its PoS-secured Ethereum sidechain.

MATIC, the native tokens of Polygon, is an ERC-20 token running on the Ethereum blockchain. The tokens are used for payment services on Polygon and as a settlement currency between users who operate within the Polygon ecosystem. The transaction fees on Polygon sidechains are also paid in MATIC tokens.

Polygon

Decentraland (MANA) defines itself as a virtual reality platform powered by the Ethereum blockchain that allows users to create, experience, and monetize content and applications.

In this virtual world, users purchase plots of land that they can later navigate, build upon and monetize.

Decentraland was launched following a $24 million initial coin offering (ICO) that was conducted in 2017. The virtual world launched its closed beta in 2019 and opened to the public in February 2020. Since then, users have created a wide range of experiences on their parcels of LAND, including interactive games, sprawling 3D scenes and a variety of other interactive experiences.

Decentraland uses two tokens: MANA and LAND. MANA is an ERC-20 token that must be burned to acquire non-fungible ERC-721 LAND tokens. MANA tokens can also be used to pay for a range of avatars, wearables, names, and more on the Decentraland marketplace.

Decentraland (MANA) is a decentralized virtual world platform with software based on the Ethereum blockchain, where users create, test and monetize content. In short: users buy virtual plots of land as NFTs with MANA tokens on the Decentraland platform. Progress in the game depends only on players themselves, their efforts and their imagination.

The digital platform is completely owned by its users. Within the Decentraland metaverse, participants can explore the virtual world, purchase plots of land that can be monetized, create works of art, own non-fungible tokens (NFTs), and take part in a decentralized autonomous organization of the platform Decentraland DAO. Due to the DAO, the community influences the development vector of the project.

In addition, users have access to interactive applications, in-world payments and peer-to-peer communication. The 3D world resonates with many participants as Decentraland has many applications, both entertainment for gamers and business for investors.

Two types of tokens called MANA and LAND govern operations in Decentraland. They also allow users to interact with the platform.

MANA is the official currency of Decentraland. It’s an ERC-20 standard token that powers the Decentraland platform. With MANA, users can purchase plots of LAND, as well as pay for in-game items and services.

MANA gives its holders the right to vote in Decentraland DAO. MANA can be purchased on a cryptocurrency exchange or by selling collectibles on Decentraland Marketplace. The owner of tokens converts them to wrapped MANA, or wMANA, and then commits them to the DAO. One wMANA equals one vote. MANA can be exchanged for fiat currency and other digital assets.

As for LAND, it’s a non-fungible token (NFT) based on Ethereum (ETH). It is used to track ownership of land parcels aka digital real estate. Like MANA, LAND is part of the protocol and confers voting rights, but LAND does not need to be fixed in the DAO. One LAND is equal to two thousand votes.

Players choose what to do with their land. Owners store tokens in crypto wallets and buy necessities with MANA tokens on the Decentraland Marketplace. Moreover, on the marketplace, participants can manage or exchange LAND tokens (priced in MANA). Holders use the marketplace to transact or transfer in-game items. All transactions are conducted, regulated and registered via the Ethereum blockchain.

Decentraland combines an online gaming space and blockchain technology. All control over the rules is given to the players, and token holders vote on in-game and organizational policies. The original goal was to form a decentralized virtual reality, but in practice, Decentraland has turned into a massive NFT market.

A special role in Decentraland is assigned to NFTs, such as collectibles, virtual equipment and real estate (LAND). However, for new players who want to join the universe and seize NFTs, the entry barrier will be high.

The Decentraland protocol is built on three levels using Ethereum smart contracts. On the consensus layer, the ownership of LAND is tracked and managed. The land content layer displays the content of the Decentraland virtual world. Finally, on the real-time layer, participants interact with each other.

The platform was co-founded by two blockchain experts, Ari Meilich and Esteban Ordano, in 2015. Officially it was launched a year later and became available only in February 2020, gradually turning from a 2D experiment into a full-fledged 3D world.

To sum up, Decentraland is a decentralized game and a 3D virtual reality platform where players own lands and create limitlessly. Decentralized Autonomous Organization (DAO) software is at the core, and governance is in the hands of the community. Through the native token MANA, players participate in any proposals for managing and improving the ecosystem, the auction system, and the in-game policy.

Decentraland

Launched in July 2017, Binance is the biggest cryptocurrency exchange globally based on daily trading volume. Binance aims to bring cryptocurrency exchanges to the forefront of financial activity globally. The idea behind Binance’s name is to show this new paradigm in global finance — Binary Finance, or Binance.

Aside from being the largest cryptocurrency exchange globally, Binance has launched a whole ecosystem of functionalities for its users. The Binance network includes the Binance Chain, Binance Smart Chain, Binance Academy, Trust Wallet and Research projects, which all employ the powers of blockchain technology to bring new-age finance to the world. BNB is an integral part of the successful functioning of many of the Binance sub-projects.

Fantom is a directed acyclic graph (DAG) smart contract platform providing decentralized finance (DeFi) services to developers using its own bespoke consensus algorithm.

Together with its in-house token FTM, Fantom aims to solve problems associated with smart-contract platforms, specifically transaction speed, which developers say they have reduced to under two seconds.

The Fantom Foundation, which oversees the Fantom product offering, was originally created in 2018, with the launch of OPERA, Fantom’s mainnet, coming in December 2019.

Fantom is an open-source decentralized smart contract platform for DApps and digital assets that was created as an alternative to Ethereum. Fantom has the goal of overcoming the limitations of previous generation blockchains and balancing three components: scalability, security and decentralization. The project offers a set of tools to simplify the process of integrating existing DApps, as well as a detailed staking reward system and built-in DeFi instruments.

Fantom is a Layer-1 blockchain that uses a scratch-built consensus mechanism and independent consensus layer, Lachesis, to facilitate DeFi and related services on the basis of smart contracts. Lachesis provides security for other layers as well, including Opera, Fantom's EVM-compatible smart contract chain. The long-playing mission of the project is to “grant compatibility between all transaction bodies around the world.”

One of Fantom's key strengths is its performance and efficient transaction processing, namely thousands of transactions per second, where transactions are settled in 1-2 seconds, and the cost is fractions of a cent per transaction. As a result, Fantom provides higher scalability but at a lower cost.

The ecosystem is based on two main technologies: Lachesis protocol and Opera.

The Lachesis protocol is the core consensus layer that secures the Fantom network by providing both transaction speed and security.

Lachesis is an aBFT consensus engine that uses a directed acyclic graph (DAG) algorithm. How it works: network data can be processed at different times, and the network filters the participants, allowing only one third, which are allocated due to erroneous or malicious behavior, without compromising network processes.

Fantom's Asynchronous Byzantine Fault Tolerant (aBFT) Proof-of-Stake (PoS) consensus mechanism maintains the efficiency of the entire network, its design provides security at maximum speed. Fantom developers emphasize that the PoS mechanism is a leaderless phenomenon — there are no leaders of blocks and participants, and anyone can join (or leave) the network of nodes at a convenient moment.

The key qualities of Lachesis are: asynchronous, leaderless, Byzantine fault-tolerant, and near-instant finality.

As for Opera, it's an application development layer or Fantom's mainnet deployment platform, permissionless and open-source hosting DApps. Thanks to EVM integration and support for the Solidity programming language, Fantom has a full set of smart contract capabilities, which allows users to seamlessly interact with Ethereum platforms while maintaining the advantage of Fantom's transaction efficiency.

The Fantom Foundation concluded that removing block leaders improves network security, so Opera uses a PoS model and leaderless validators (validators do not determine which blocks are valid).

In addition to being a fast, secure and cheap payment platform that enables to make fast and secure payments at minimal cost, Fantom also features on-chain governance where users vote with FTM tokens (one token equals one vote). Of the features: users have the right to express the degree of agreement / disagreement on a scale from 0 to 4.

FTM is the native utility in-house PoS token of Fantom that powers the ecosystem and is applied for payments, network fees, staking, and governance. FTM forms the backbone of transactions, and allows fee collection and staking activities, along with the user rewards the latter represents.

Fantom

NEAR Protocol is a layer-one blockchain that was designed as a community-run cloud computing platform and that eliminates some of the limitations that have been bogging competing blockchains, such as low transaction speeds, low throughput and poor interoperability. This provides the ideal environment for DApps and creates a developer and user-friendly platform. For instance, NEAR uses human-readable account names, unlike the cryptographic wallet addresses common to Ethereum. NEAR also introduces unique solutions to scaling problems and has its own consensus mechanism called “Doomslug.”

NEAR Protocol is being built by the NEAR Collective, its community that is updating the initial code and releasing updates to the ecosystem. Its declared goal is to build a platform that is “secure enough to manage high value assets like money or identity and performant enough to make them useful for everyday people.”

Flux, a protocol that allows developers to create markets based on assets, commodities, real-world events, and Mintbase, an NFT minting platform are examples of projects being built on NEAR Protocol.

NEAR Protocol

Avalanche is a layer one blockchain that functions as a platform for decentralized applications and custom blockchain networks. It is one of Ethereum’s rivals, aiming to unseat Ethereum as the most popular blockchain for smart contracts. It aims to do so by having a higher transaction output of up to 6,500 transactions per second while not compromising scalability.

This is made possible by Avalanche’s unique architecture. The Avalanche network consists of three individual blockchains: the X-Chain, C-Chain and P-Chain. Each chain has a distinct purpose, which is radically different from the approach Bitcoin and Ethereum use, namely having all nodes validate all transactions. Avalanche blockchains even use different consensus mechanisms based on their use cases.

After its mainnet launch in 2020, Avalanche has worked on developing its own ecosystem of DApps and DeFi. Different Ethereum-based projects such as SushiSwap and TrueUSD have integrated with Avalanche. Furthermore, the platform is constantly working on improving interoperability between its own ecosystem and Ethereum, like through the development of bridges.

Avalanche

Pancakeswap was originally built on the BNB Chain and allows users to trade tokens without using a centralized exchange. It provides an array of products, such as:

An exchange to swap tokens

A yield farm to earn rewards

Syrup pools to stake CAKE tokens

Ethereum liquid staking (wBETH) and simple staking

Pancake Protectors game

v3 position manager (new feature)

A prediction market

Initial Farm Offering (IFO) token launches

A bridge to bridge CAKE to Ethereum and Aptos

A lottery

An NFT marketplace

Pancakeswap innovates quickly and ships new products regularly. In April 2023, PancakeSwap voted to transition to a deflationary token model called "Ultrasound CAKE." The protocol passed a proposal called CAKE Tokenomics v2.5 to create a structure combining real yield (no supply impact) and reduced token emissions. Over 102% of minted CAKE is burned weekly. This is intended to provide a multi-year runway for emissions and incentivize locking up CAKE, making the token more valuable long-term.

PancakeSwap has an anonymous team of “Chefs,” working in the PancakeSwap “Kitchen.” The platform is open-source and has been audited by multiple reputable blockchain security firms like Peckshield and Slowmist.

Although the bear market has impacted TVL and trading volume for the protocol, PancakeSwap still boasts an annualized revenue of $27 million, with 42% of CAKE is staked:

PancakeSwap

In a nutshell, Cosmos bills itself as a project that solves some of the “hardest problems” facing the blockchain industry. It aims to offer an antidote to “slow, expensive, unscalable and environmentally harmful” proof-of-work protocols, like those used by Bitcoin, by offering an ecosystem of connected blockchains.

The project’s other goals include making blockchain technology less complex and difficult for developers thanks to a modular framework that demystifies decentralized apps. Last but not least, an Interblockchain Communication protocol makes it easier for blockchain networks to communicate with each other — preventing fragmentation in the industry.

Cosmos’ origins can be dated back to 2014, when Tendermint, a core contributor to the network, was founded. In 2016, a white paper for Cosmos was published — and a token sale was held the following year. ATOM tokens are earned through a hybrid proof-of-stake algorithm, and they help to keep the Cosmos Hub, the project’s flagship blockchain, secure. This cryptocurrency also has a role in the network’s governance.

Cosmos

Polkadot is an open-source sharded multichain protocol that connects and secures a network of specialized blockchains, facilitating cross-chain transfer of any data or asset types, not just tokens, thereby allowing blockchains to be interoperable with each other. Polkadot was designed to provide a foundation for a decentralized internet of blockchains, also known as Web3.

Polkadot is known as a layer-0 metaprotocol because it underlies and describes a format for a network of layer 1 blockchains known as parachains (parallel chains). As a metaprotocol, Polkadot is also capable of autonomously and forklessly updating its own codebase via on-chain governance according to the will of its token holder community.

Polkadot provides a foundation to support a decentralized web, controlled by its users, and to simplify the creation of new applications, institutions and services.

The Polkadot protocol can connect public and private chains, permissionless networks, oracles and future technologies, allowing these independent blockchains to trustlessly share information and transactions through the Polkadot Relay Chain (explained further down).

Polkadot’s native DOT token serves three clear purposes: staking for operations and security, facilitating network governance, and bonding tokens to  connect parachains .

Polkadot has four core components:

Relay Chain: Polkadot’s “heart,” helping to create consensus, interoperability and shared security across the network of different chains;

Parachains: independent chains that can have their own tokens and be optimized for specific use cases;

Parathreads: similar to parachains but with flexible connectivity based on an economical pay-as-you-go model;

Bridges: allow parachains and parathreads to connect and communicate with external blockchains like Ethereum.

Polkadot

Bitcoin is a decentralized cryptocurrency originally described in a 2008 whitepaper by a person, or group of people, using the alias Satoshi Nakamoto. It was launched soon after, in January 2009.

Bitcoin is a peer-to-peer online currency, meaning that all transactions happen directly between equal, independent network participants, without the need for any intermediary to permit or facilitate them. Bitcoin was created, according to Nakamoto’s own words, to allow “online payments to be sent directly from one party to another without going through a financial institution.”

Some concepts for a similar type of a decentralized electronic currency precede BTC, but Bitcoin holds the distinction of being the first-ever cryptocurrency to come into actual use.

Bitcoin

Zilliqa is a public, permissionless blockchain that is designed to offer high throughput with the ability to complete thousands of transactions per second. It seeks to solve the issue of blockchain scalability and speed by employing sharding as a second-layer scaling solution. The platform is home to many decentralized applications, and as of October 2020, it also allows for staking and yield farming.

Development work officially started on Zilliqa in June 2017, and its testnet went live in March 2018. A little over a year later, in June 2019, the platform launched its mainnet.

The native utility token of Zilliqa, ZIL, is used to process transactions on the network and execute smart contracts.

Zilliqa

Filecoin is a decentralized storage system that aims to “store humanity’s most important information.” The project raised $205 million in an initial coin offering (ICO) in 2017, and initially planned a launch date for mid-2019. However, the launch date for the Filecoin mainnet was pushed back until block 148,888, which is expected in mid-October 2020.

The project was first described back in 2014 as an incentive layer for the Interplanetary File System (IPFS), a peer-to-peer storage network where users pay for data storage and distribution services in $FIL. Filecoin is open protocol and backed by a blockchain that records commitments made by the network’s participants, with transactions made using FIL, the blockchain’s native currency. The blockchain is based on both proof-of-replication and proof-of-spacetime.

Filecoin is open-source and decentralized, which means that all governance is in the hands of the community. On the Filecoin platform, developers have the opportunity to create cloud file storage services like Dropbox or iCloud. Anyone can join Filecoin and start storing their data or earn money by providing space for someone else's funds. The creators of Filecoin opted for their blockchain technology to run the network and their token with their own consensus.

$FIL is the native currency of Filecoin that powers the entire network and all processes. Clients pay for transactions in FIL tokens. Miners place FIL as collateral, guaranteeing their services.

The developers claim that Filecoin solves the problem of inefficient file storage and retrieval. Customers can find the right solution with an efficient set of tools and its core development, IPFS.

Filecoin

Ethereum is a decentralized open-source blockchain system that features its own cryptocurrency, Ether. ETH works as a platform for numerous other cryptocurrencies, as well as for the execution of decentralized smart contracts.

Ethereum was first described in a 2013 whitepaper by Vitalik Buterin. Buterin, along with other co-founders, secured funding for the project in an online public crowd sale in the summer of 2014. The project team managed to raise $18.3 million in Bitcoin, and Ethereum’s price in the Initial Coin Offering (ICO) was $0.311, with over 60 million Ether sold. Taking Ethereum’s price now, this puts the return on investment (ROI) at an annualized rate of over 270%, essentially almost quadrupling your investment every year since the summer of 2014.

The Ethereum Foundation officially launched the blockchain on July 30, 2015, under the prototype codenamed “Frontier.” Since then, there has been several network updates — “Constantinople” on Feb. 28, 2019, “Istanbul” on Dec. 8, 2019, “Muir Glacier” on Jan. 2, 2020, “Berlin” on April 14, 2021, and most recently on Aug. 5, 2021, the “London” hard fork.

Ethereum’s own purported goal is to become a global platform for decentralized applications, allowing users from all over the world to write and run software that is resistant to censorship, downtime and fraud.

Ethereum

FTT is the native cryptocurrency token of the crypto derivatives trading platform FTX that launched on May 8, 2019. On Nov. 11, 2022, FTX filed for Chapter 11 bankruptcy protection in the U.S., and is currently undergoing proceedings. Some of the information below may not reflect the current standings of the FTX exchange, please proceed with caution when interacting with the FTT token.

The team behind FTX comprises some of the largest crypto traders over the past few years who, having found issues with most mainstream crypto futures exchanges, decided to launch their own platform. FTX claims that it stands out due to such features as clawback prevention, a centralized collateral pool and universal stablecoin settlement. FTX is a centralized crypto exchange launched by Sam Bankman-Fried in 2019, backed by significant trading companies in the industry, including Almeda Research, OTPP, Temasek, BlackRock, Coinbase Ventures and Sequoia Capital. As of 2022, the platform has over a million registered members, and the daily trading volume has reached billions of dollars.

In regards to clawback prevention, a significant amount of customer funds on other derivative exchanges have been claimed by socialized losses. FTX reduces this by using a three-tiered liquidation model.

On existing crypto futures exchanges, the collateral is fragmented across separate token wallets; this can be difficult for traders as it prevents positions from getting liquidated. On the other hand, FTX derivatives are stablecoin-settled and only require one universal margin wallet.

Another feature of the FTT are leveraged tokens, which allow traders to put leveraged positions without the need to trade on margin. If a trader wants to short Bitcoin with 3x leverage, they can simply buy a 3x short Bitcoin leveraged token on FTX. These tokens are ERC20-compatible and can be listed on any spot exchange. FTX currently offers XRP, BNB, TRX, BTC, ETH, EOS, USDT and LEO leveraged tokens.

A year after its founding, FTX Exchange introduced the exchange token called FTX Token or FTT. The FTT coin is an ERC-20 standard token that is actively used by ecosystem participants.

Initially, FTT was established as a reward for exchange transactions; however, over the years the list of functions has grown:

FTT is applicable in the creation of leveraged tokens on the FTX Exchange; users can receive VIP discounts in the form of FTT depending on the number of coins they own, and it’s possible to earn rewards for providing liquidity through futures positions.

In order to maintain its value, the exchange regularly buys back and burns its tokens, spending on the purchase of FTX: 33% of trading fees, 10% of the reserve fund, and 5% of other commissions.

FTT Token use cases:

1/3 of the commissions received from transactions on FTX are utilized to buy back FTT. Tokens redeemed in this way are burned;

FTT tokens are used to reduce trading fees and to secure futures positions;

Profits from massive market movements are distributed among the holders;

By purchasing a white label version of FTX’s OTC portal and futures market, institutions and investors pay expenses in FTT tokens;

By creating leveraged tokens, projects can pay listing fees with FTT;

Users can stake FTT to benefit from discounts, bonus votes, and blockchain fee waivers.

One benefit of FTX Token (FTT) is commission discounts. Members pay a low fee and obtain tighter spreads. Traders use FTT as collateral, and those who are active on FTX Exchange see percentage differences of up to 60%. Traders get insurance protection, which ensures a net profit in moments of market volatility, then makes it possible to continue trading even without a margin call.

In addition to the fact that FTT is useful for opening positions with leverage, FTT staking also offers perks: discounts, the opportunity to win NFTs, participation in airdrops, bonus votes and IEO tickets.