Altcoins have exploded in terms of volume, market capitalisation, and popularity to the point where we may see Bitcoin (BTC) depreciate even more if it fails to recover. Calyx news…
As new altcoins enter the realm of cryptocurrency, they get more extensive and intricate features than those created in previous years.
A newcomer has just entered the first stage of its presales and has attracted traction in the crypto community due to exciting attributes detailed on its white paper.
Calyx Token (CLX), a decentralised liquidity protocol, is a ground-breaking new cryptocurrency built on three fundamental tenets: security, transparency, and decentralisation. But what’s the hype about this decentralised finance (DeFi) token?
Could Calyx (CLX) Become a Game-Changer Liquidity Protocol?
Calyx Token is a permissionless liquidity protocol that enables multi-chain crypto trading and liquidity sourcing from numerous liquidity sources such as decentralised exchanges (DEXs) operating on top of different blockchain networks to allow trading and token swaps at the best pricing.
Users who are not exposed to a protocol’s native token should always resort to an exchange, making the whole procedure time-consuming and hugely expensive.
Calyx’s platform code architecture is robust, facilitating immediate transaction activity. The tokens can be swapped or converted quickly in a single transaction event, enabling customers to get the swapped tokens immediately after submitting the exchange request, allowing Calyx to differentiate itself from other exchanges.
Moreover, relying on centralised exchanges to meet liquidity specifications in the DeFi ecosystem is counterintuitive to the concept of decentralisation. As a result, the DeFi protocols must verify that decentralised projects have appropriate liquidity to protect the token price from the severe consequences of volatility.
The CalyxSwap combines liquidity from several sources operating on top of various blockchain networks to guarantee adequate liquidity for the projects. This aggregation puts several tokens together under a single roof, resulting in lower switching costs and speedier trades without leaving the wallet.
More significantly, the protocol will be administered and regulated by community members who own the native CLX token through CalyxDAO, a decentralised autonomous organisation (DAO).
As the Calyx Token increases in popularity, it will be critical to place complete authority in the hands of the community, allowing them to vote on and implement critical network development choices.
Additionally, Calyx Token will integrate with various DeFi wallets, including MetaMask, Ledger, MyCrypto, Trezor, and Argent, to increase Calyx Token usage and simplify the following platform operations.
What makes Calyx Faster and Cheaper?
Calyx Token (CLX) faces competition from established decentralised liquidity protocols such as Uniswap (UNI).
While Uniswap does not need users to set up an account to trade crypto tokens and earn interest on their crypto holdings, high gas prices are a significant hindrance.
Since Uniswap is based on Ethereum (ETH), gas prices are substantial, especially for minor transactions. For instance, the Ethereum gas fee for a single transaction is around $37. As a result, even a $50 transaction requires around $37 in gas expenses, rendering it impractical for minor transactions.
Calyx uses a hub of multiple liquidity pools rather than a single liquidity protocol to address the issue of expensive gas fees.
Thus, numerous liquidity pools allow traders to get liquidity from any protocol of their choosing and filter out non-essential liquidity sources. Consequently, gas charges are decreased while still allowing for diverse aggregation possibilities.
Should You Invest in Calyx Token Presale?
Numerous cryptocurrencies performed exceptionally well post their presale periods. Ethereum (ETH), the market’s second-biggest cryptocurrency, was launched in 2014 and valued at $0.29 on its launch day.
At its peak in November 2021, when Ethereum (ETH) hit $4,861, it represented a 16,86,690% gain above the presale price. Hence, if you invested $100 in ETH during the presale period, it would become $1,686,790 in November 2021.
The CLX cryptocurrency is presently in its initial stage and is reasonably capable of being a lucrative protocol that rewards early investors handsomely. CLX token purchasers have joined hands; are you ready to join the league?