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New Delhi [India], June 17 (ANI/ATK): When Dogecoin exploded in 2021, many still viewed this meme coin as merely an exercise in short-term gains for investors looking to capitalize quickly.
While for some, this is true, what we saw was something far more significant than your standard meme coin, summoning a whole new community into the world of crypto. Community-led projects are the very reason certain coins will retain their current success. Users have an emotional and loyal attachment to their community. An aspect that leaves many Wall Street traders scratching their heads. Parallels can be seen in the regular stock market, with AMC and GME seeing similar community-led successes, bringing financial freedom to a whole new demographic. While some of the hype inevitably has died down, Dogecoin, through the community it has now built and maintained, has started to make inroads into genuine use cases in society as an alternative payment method. AMC has announced that they are now accepting online payments in DOGE. Mark Cuban, owner of the Dallas Mavericks and a notable community member, accepts DOGE as a payment gateway. Car manufacturing behemoth Tesla also accepts DOGE for merchandise and online retail services. In uncertain times one aspect has remained firm from the new community-backed protocols, which is HODLing. We have seen how stoic and reliable investors in DOGE have been, and while fluctuations will always occur, projects such as this offer shock-absorbing protection against broader market inflation. The Unicorn Amongst the Horses It is often difficult to discern which new projects will be the next big crypto to back, and a diverse portfolio or mini ETF across multiple start-up projects should always be encouraged. However, understanding how a new player can solve issues in the market alongside flexibility and durability are key parameters to justify early entry. One project which has been highly impressive to many within the space is CashFi (CFI). CashFi is positioning itself to be the next unicorn within DeFi. The project will be backed by their native ERC-20 token on the Ethereum network and will address key issues within the NFT space but also across the commodity market through synthetic assets to act as a secure brokerage for a market that is often rife with bottlenecks. First, CashFi will develop its robust and versatile NFT project by allowing users to create their own NFT marketplaces, which will support cross-asset and cross-chain trading. What's so exciting about this development is that they enable users to tailor the market to their specific needs and have exclusive offerings for unique artists or communities to give developers full autonomy over the design within the constraints of their secure ecosystem. Secondly, CashFi will develop synthetic assets or CFI Synths for commodity trading. One issue they are particularly interested in is using blockchain technology for a greener planet, and this project could help rejuvenate a somewhat suspect and troubled carbon trading scheme. Auditing carbon blocks are complex, and the true positive externality of carbon sequestration activities, such as planting trees or other forms of carbon capture, is often unattainable but now increasingly possible via blockchain. While auditing the sequestration activities is still an issue, the documentation and legitimate trading is a problem that can be solved using CFI Synths, and the service can allow access to instant liquidity, promoting trading and overall adoption. The commodity trading synths are not just limited to the carbon trading scheme; they will encompass all of the commodity markets. This aspect will give it unicorn status amongst many dull horses out there. Moreover, we see this as a project that the community can get behind due to its reputation as a clean blockchain. Just one of the many reasons that the protocol is Proof of Stake rather than the more environmentally costly Proof of Work. Due to the project allowing the developers to tailor the NFT marketplace to their every need, this has garnered some additional interest. Why should you invest in CashFi today? CashFi offers liquidity staking, allowing users access to their funds while helping to validate the network. This is why we believe this could be an excellent community-led development. CashFi is currently in its Presale, having gone live, and is scheduled to run until September 6th. If you are interested in investing early, check out their website and whitepaper to learn more about the protocol. Presale: https://enter.cashfi.finance/register Website: https://cashfi.finance/en This story is provided by ATK. ANI will not be responsible in any way for the content of this article. (ANI/ATK)
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