The Chinese coin issue is among the hottest topics in the cryptocurrency world. So, what’s among these coins? Which cryptocurrencies stand out? Let’s take a look at the analyst’s comments.
What are the 4 Chinese coins?
Camille Lemmens, an analyst at Altcoin Buzz, focuses on Chinese coins. First on the list is Dodo. Accordingly, Dodo is a DEX that uses a proactive market maker model (PMM). It also means that it copies the behavior of a true trader and market maker. It uses price oracles for this. Accordingly, the Chinese coin DODO uses Chainlink Price Feeds. This includes traditional order book trading. On the other hand, every time the market changes, it moves the price curves of the assets it follows. It has a pricing formula that allows a single asset to be deposited instead of a pair. As a result, there is no permanent loss. Also, all trading pairs are done with USDC.
In a nutshell, DODO brings together the best of both DeFi and centralized exchanges. It offers the best AMM features and CEX’s order book. This increases liquidity and narrows the price range. DODO belongs to China. So a Chinese coin. On the other hand, its founders and owners are Chinese crypto enthusiasts. Diane Dai was proactive during the introduction of DeFi to China. Mingda Lei has a PhD from Peking University but dropped out. He’s the person behind the PMM idea. Qi Wang launched DOS Network, China’s first oracle project.
What are the other coins?
The second Chinese coin is Cortex (CTXC). Cortex is all about artificial intelligence with blockchain technology. It is also an autonomous and decentralized artificial intelligence system. Accordingly, their claims on their website are: “The first decentralized world computer that can run artificial intelligence and AI-powered dApps on the blockchain.” The protocol uses zk Rollups to achieve this. This is their zkMatrix Layer 2 solution. It aggregates L2 batches on the main chain. As a result, you get a higher transaction per second (TPS) rate. This results in lower transaction fees.
Bitcoin cryptocurrency coins on national flag of China. Crypto law regulation conceptThe third Chinese coin is Phoenix Global (PHB). Phoenix Global was the result of the merger between APEX Network and Red Pulse Phoenix. This merger took place in 2020. The protocol has three components
- Computation Layer 2 – This is their computation layer. A Web3-based infrastructure platform that provides artificial intelligence computing services. This layer offers AI on demand.
- Enterprise Layer 1- This is an EVM compatible, scalable and enterprise-grade blockchain.
- Phoenix Oracle – Oracle securely interacts with off-chain data. It deals with data operations and exchanges. It is natively integrated with the Tier 1 chain.
Linear Finance
The last Chinese coin is Linear Finance (LINA). Linear Finance calls itself the first cross-chain compatible, delta-one asset protocol. Well what does it mean? Cross chain is easy. It is involved in various blockchains. These include Ethereum, BSC Chain, Polkadot, and Moonbeam. Delta One means Linear Finance offers derivatives. So, if the original asset sees a price move, the derivative should see the same move. Accordingly, Linear Finance offers various applications. On the other hand, examples are given below:
- Buildr – For staking LINA token and creating LUSD. The latter is the base currency of Linear Exchange.
- Exchange – A specially created exchange. Accordingly, it offers liquid assets with no slip and unlimited liquidity.
- Swap – A specially created swap.
- Vault – A vault that generates returns. Passive income is possible by locking LUSD, BUSD or LINA.
When we look at Kriptokoin.com, their headquarters are in Hong Kong. All this is perhaps the beginning of the Chinese coin story. Because LINA token has seen a price increase of 89.9% in the last 14 days. Also, over the past year, the token has increased by 97%.
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