The term DeFi stands for decentralized finance and was coined to describe a set of cryptocurrencies seeking to improve financial services, eliminate third-party intermediaries, and offer cheaper and borderless transactions. Decentralizing finance and removing third-party intermediaries is the core on which cryptocurrencies began, to give financial power back to the people and enable peer-to-peer (P2P) connectivity. There have been several projects built with this in mind like BNB Coin (BNB) and Pancake Swap (CAKE) which are worthy of note. However, a new project, Logarithmic Finance (LOG) appears to have even bigger plans for this sector which makes it a project not to be missed out on.
BNB Coin (BNB)
BNB Coin (BNB) is the native utility token of the very popular Binance Exchange. It operates on the BNB Chain which has become widely adopted as a preferred alternative to Ethereum’s (ETH) blockchain network for several reasons. The major ones would be the higher transaction speeds and cheaper costs that the chain offers.
BNB Coin (BNB) is utilized by users of the platform to get discounts when they pay trading fees, traveling expenses, virtual gifts, or for shopping. The project recently entered a partnership with a Dubai agency which will expand its reach to provide cryptocurrency exchange services.
Logarithmic Finance (LOG)
Logarithmic Finance (LOG) is a secure, non-custodial, and cross-chain platform providing opportunities for innovators to raise funds across any blockchain network of choice. The project is a next-gen layer three swapping protocol purposefully designed to foster flawless connectivity between early-stage innovators and investors. For now, the platform supports Ethereum (ETH) because of its vast community support, mass enterprise adoption, and open-source and interoperable nature but it has plans to include others for various reasons as listed on its website.
● Polygon (MATIC) will be supported due to its faster transaction throughput, robust infrastructure support, and significantly lower fees
● The project intends to incorporate Avalanche (AVAX) for its unparalleled decentralization, sub-second finality, and multiple custom VMS support.
● Solana (SOL) is among its plans for its strong and extensive community, its superb computational capabilities, and the fact that it’s lightning-fast and extremely cheaper
● Binance Smart Chain (BSC) will join this group for its EVM compatibility, borderless DeFi capabilities, and low costs of transactions
● Tezos (XTZ) will offer its reliable mainnet infrastructure, self-amendment mechanism, and on-chain governance.
All these blockchains with their individual offerings will altogether make Logarithmic Finance (LOG) a fully decentralized, multi-chain protocol with extraordinary DeFi capacities.
LOG which is the native governance and utility ERC20 token of the ecosystem and will provide its holders with better swap ratios, staking rewards, exclusive pools access, high yield investment, and of course governance rights. The project is currently in its presale phase and according to its tokenomics there will be a total supply of 4 billion tokens but only 1.2 billion will be available in the sale. The tokens are currently selling for $0.006995 and can be purchased on the website’s presale dashboard. The network supports Metamask at the moment but according to its roadmap will integrate other wallets including Coinbase Wallet, Fortmatic, WalletConnect, and Portis.
PancakeSwap (CAKE), similar to Uniswap (UNI) and SushiSwap (SUSHI), was released in 2020 as a food-themed DeFi platform and attracted many investors. The project is based on the Binance Smart Chain (BSC) which is why it has gained the trust of many investors and probably why it was able to collect $4.9 billion after its release despite the anonymity of its developers.
PancakeSwap (CAKE) offers the ability to trade BEP20 tokens at low costs of transactions. It aims to be able to provide cheaper and faster services when compared to Ethereum (ETH) based coins. The project is backed by Certik which happens to be one of the best security companies.
Learn more about Logarithmic Finance (LOG)