DeFi is Dead. Move over Aave and Curve, Avorak and AI Crypto are the Next Big Things

The post DeFi is Dead. Move over Aave and Curve, Avorak and AI Crypto are the Next Big Things appeared first on Coinpedia Fintech News

For the longest time, blockchain technology has embraced evolution within the digital universe. The ecosystem has now integrated artificial intelligence (AI) thanks to Avorak AI. The combination is said to be a futuristic improvement to humankind as there will be massive benefits in various fields such as medicine, sports, and agriculture. Additionally, with the inauguration of AI projects like Avorak, cryptocurrency will have massive adoption as both blockchain technology and AI continue to grow.

What is Aave?

Aave is a digital currency lending platform that allows users to borrow cryptocurrencies. In a nutshell, users get to offer their digital assets to the platform in return for acquiring profit. Conversely, users can borrow virtual currency from the platform and pay interest in return. The platform is an Ethereum-based blockchain protocol. Therefore, this indicates that the project utilizes smart contracts in conducting all transactions.

The lending platform’s native token is AAVE which allows participants of the protocol to conduct transactions such as staking for earning rewards and trading on various exchanges. Users also get governance benefits in the voting system of Aave by owning the token.

What is Curve?

Curve is a blockchain protocol that utilizes various digital currencies to operate automated market-making services (AMM). Curve’s AMM is comprehensively based on stablecoins. Stablecoins are digital assets pegged to mimic fiats, such as dollars, and other tangible assets, such as Gold and Silver.

Being developed on the Ethereum main net, Curve utilizes smart contracts to conduct and conclude transactions. The native token for the Curve is CRV. CRV enables participants to conduct activities such as buying and selling digital assets. The native token also allows users to become a decentralized autonomous organization (DAO). In this case, they can partake in conducting changes related to the protocol.

Avorak the Next Blockchain Ecosystem?

Integrating artificial intelligence and blockchain technology is needed to increase digital currency adoption. Therefore, Avorak comes in handy, forming a part and parcel of the revolution to change the old model. Avorak is regarded as a cryptocurrency that embeds blockchain technology and artificial intelligence to allow various activities. The infrastructure has an inbuilt mechanism called Avorak Trade that facilitates automated trading activities for clients through automatic API and bots with abilities to generate exclusive trading indicators.

The ecosystem is designed to reduce human tasks and work time, including text generation, creative works, and trading. For this to occur, the digital asset project has its native currency, dubbed AVRK, which acts as fuel for the environment. In other words, AVRK is the AI crypto of the ecosystem.

AVRK has a maximum supply of 40 million with an impressive distribution face as there will be 28 million tokens for public ICO, 2 million for primary staking pool, 1.6 million team allocation, 2 million for marketing funds, 4 million for CEX tokens, and an initial liquidity of 2.4 million. The native tokens allow participants to partake in the operations held by Avorak’s artificial intelligent accessories. Moreover, they will be able to receive rewards from the revenue Avorak makes which accounts to 49% of the total revenue.  

The project aims to utilize a proof-of-learning mechanism since artificial intelligence is based on a time-to-time learning schedule for the learning software to keep up with recent developments. Moreover, the project has a deflationary program of burning 2% of its tokens to enhance stability and proper operation while at the same time rewarding holders in the long run.

Bottom Line

The blockchain ecosystem has experienced massive development over time. Regardless of whether or not there isn’t a need for a quick divert to the quickly rising artificial intelligence, the decentralized system needs to join the bandwagon. Joining the wave will signify a reduction of workload not only for users but also for the developers. Avorak seems to be a suit for the place as it combines both blockchain technology and artificial intelligence.

Learn more about Avorak AI:

Website | Whitepaper