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ICO Investors Flock as Toon Finance Rocking Crypto World 2 Million in Presale

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Crypto Journalist and Editor of guest articles in CoinPedia. I am also handling Outreach & Partnerships Manager. Contact me: [email protected]

    Toon Finance vs Big Eyes Coin

    Toon Finance is the new crypto currency that has been on market watchlists as it surpasses Tamadoge and Big Eyes during the first phase of their presale. The toon team is at it and they have been nothing short of spectacular with the presale finally opening to the general public so you know what this means? 

    The crypto space has seen this before where these meme coins drop their presale and investors are just surrounded one by one waiting to flock in like a bunch of wild geese. Or maybe just a bunch of pumped up fans. Either way it has caused lots of attention in the past weeks showing up on everyone’s news channel. 

    Toon Finance mentioned in a tweet this past week that they partnered with an entire team that is helping with all of their art and creating their unique collection of 10,000 Cartoon NFTs. The Artwork is exceptionally good if I must say so myself. 

    Toon Finance is doing an NFT giveaway that you are not going to want to miss out on. Stay up to date with all of the latest information by keeping up with the Toon team on their social media platforms. They already have over 20k twitter followers and counting. The project’s community is growing like wildfire, I feel like you cannot view crypto and miss them. 

    Decentralized Finance – The Future of Investing?

     Decentralized finance, also known as “DeFi,” is a growing ecosystem of financial protocols built on Ethereum. What started out as a handful of projects in 2017 has grown into a flourishing ecosystem with over $13 billion worth of value locked in Ethereum smart contracts. From lending and borrowing platforms to stablecoins and tokenized BTC, the DeFi space has something for everyone. 

    We’ll explore what decentralized finance is, how it works, and some of the most popular protocols in the space. By the end, you should have a good understanding of what DeFi is and why it’s such a hot topic in the cryptocurrency world. 

    What is Decentralized Finance? 

    Decentralized finance (DeFi) is a catch-all term for financial protocols built on Ethereum that aim to provide an open, accessible, and transparent alternative to traditional financial products and services. 

    The DeFi ecosystem consists of a wide variety of protocols that offer lending and borrowing platforms, stablecoins, tokenized BTC, and much more. These protocols are all built on Ethereum and run on smart contracts, which are immutable pieces of code that execute automatically when certain conditions are met. 

    Because DeFi protocols are built on Ethereum, they benefit from the network’s security and robustness. They also have the potential to interact with each other through so-called “meta-transactions,” which means users don’t have to pay gas fees every time they want to use a different protocol. 

    How Does Decentralized Finance Work? 

    The key thing to understand about DeFi is that it’s powered by smart contracts. A smart contract is a piece of code that lives on the Ethereum blockchain and executes automatically when certain conditions are met. 

    For example, let’s say you want to borrow money from a lending platform like MakerDAO. You would first need to deposit collateral (usually ETH or another cryptocurrency) into a smart contract. Once the collateral is deposited, you can then borrow DAI (a stablecoin pegged to the US dollar) against your collateral at an interest rate set by the Maker Protocol. 

    If the value of your collateral falls below a certain threshold (known as the “liquidation price”), then your collateral will be sold off to repay your debt plus interest. This process happens completely automatically and doesn’t require any intervention from either party. 

    What Are The Benefits of Decentralized Finance? 

    There are many benefits of decentralized finance protocols over traditional financial products and services. 

    Some of these benefits include: 

    • Open Access: Anyone with an internet connection can access most DeFi protocols 24/7/365. There are no KYC (know-your-customer) or AML (anti-money laundering) requirements in most cases. 
    • Transparency: All data pertaining to DeFi protocols is stored on the Ethereum blockchain, which is public and transparent. This means that anyone can audit or verify the data if they so choose.
    •  Immutability: Because smart contracts are stored on the blockchain, they cannot be changed or tampered with once they’ve been deployed. This gives users peace of mind knowing that their assets are safe from bad actors. 

    Decentralized finance (DeFi) is a burgeoning ecosystem of financial protocols built on Ethereum that offer an open, accessible, and transparent alternative to traditional financial products and services. 

    The key thing to understand about DeFi is that it’s powered by smart contracts, which are immutable pieces of code that execute automatically when certain conditions are met. Because DeFi protocols are built on Ethereum, they benefit from the network’s security and robustness while also having the potential to interact with each other through meta-transactions. Ultimately, only time will tell whether or not DeFi will live up to its hype but it’s certainly an exciting space to keep an eye on!

    Investing in Crypto ICOS – Due diligence is key

    With the recent boom in cryptocurrency prices, many people are looking to invest in ICOs (Initial Coin Offerings) as a way to make a quick profit. However, there are a few things you need to know before investing in an ICO. In this blog post, we’ll go over everything you need to know about investing in ICOs, including what they are, the risks involved, and how to do your due diligence before investing.

    What is an ICO? 

    An ICO is a fundraising mechanism where new projects sell their underlying crypto tokens in exchange for bitcoin and ether. It is similar to an Initial Public Offering (IPO) in the sense that investors receive tokens that represent ownership in the project. However, unlike an IPO, which is regulated by financial authorities, there is no such regulation for ICOs. This lack of regulation makes ICOs a high-risk investment.

    How to do your due diligence 

    Before investing in any ICO, it’s important that you do your due diligence and research the project thoroughly. 

    Some things you should look for include

    • well-written whitepaper that outlines the problem the project is trying to solve and how they plan on solving it 
    • strong team with relevant experience 
    • clear roadmap of what the project plans to achieve and by when 
    • working prototype of the product 
    • detailed token economics model 
    • fair token price that isn’t excessively inflated 
    • good social media presence with a engaged community 
    • If you’re not sure where to start, there are numerous resources available online that can help you with your research. Once you’ve done your research and you’re confident in the project, then you can decide whether or not to invest. 
    • Risks involved 

    As we mentioned before, ICOs are a high-risk investment due to the lack of regulation. Additionally, since ICOs are often funded by bitcoin and ether, if the price of either cryptocurrency crashes after you’ve invested, you could end up losing money. Finally, there’s also the risk that the project might not achieve its goals and end up being a complete failure.  While there’s no guarantee that any investment will be successful, if you do your due diligence and only invest in projects that you believe in, then you can minimize your risk of losing money.  

    Investing in ICOs can be a great way to make money if done correctly. However, it’s important to remember that ICOs are high-risk investments and there’s no guarantee that any project will be successful. Before investing in an ICO, make sure to do your research and invest only in projects that you believe in.

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    Disclaimer: This is a press release post. Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company.

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    Coinpedia

    Crypto Journalist and Editor of guest articles in CoinPedia. I am also handling Outreach & Partnerships Manager. Contact me: [email protected]

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