Crypto trader and influencer Tyler Swope is revealing his end-of-year altcoins that he believes will reward patient HODLers.
In a new video, the host of Chico Crypto tells his 304,000 YouTube subscribers that he’s got his eye on decentralized oracle network Chainlink (LINK) and two more altcoins that he says will reward their holders through a superior staking mechanism.
According to Swope, the three crypto assets are setting themselves apart by taking advantage of a new staking method based solely on real-life business performance rather than inflationary rewards.
“A new type of staking is coming, based on real-world business performance. No longer will speculation and inflation be the main driver of a stake, but the stake can be tied to metrics, performance, and the alignment of goals between entities in an industry ecosystem.”
Staking, or locking up crypto assets in order to obtain interest or rewards, tends to increase the supply of a digital asset’s tokens which leads to inflation. Swope says LINK plans to combat this by cutting off undesirable node providers and rewarding good ones.
“The beauty of Chainlink staking, is the oracle nodes can crowdsource LINK tokens from the community for the collateral required by the agreements. This allows growth. Good service providers will be able to fulfill more service agreements for customers, as they can pull stake from the community, and share with the community the revenues aka service rewards.”
LINK is exchanging hands at $19.30 as of writing, with no clear timetable for the launch of its staking protocol.
Swope is also keeping a close watch on Energy Web Token (EWT), the native cryptocurrency of the Energy Web Chain, a blockchain platform designed to accelerate a low-carbon system that leverages open-source, decentralized, digital technologies.
Swope says EWT has a similar plan to combat inflation by only rewarding stakers deemed to be performing well.
Reading from the EWT executive summary, Swope says,
“Staking rewards on decentralized service-level agreements (dSLA) come from value created in the real world (as opposed to inflationary awards paid in newly minted tokens). dSLA rewards are only distributed only to high-performing providers and the patrons who support them.”
EWT is trading for $11.25 as of writing and its staking program is up and running.
Lastly, Swope brings up UBT, the native utility token of Unibright, a framework that aims to simplify blockchains and contracts for large enterprises using their “no code” approach.
Swope highlights the importance of UBT in the Baseledger token model, a project that seeks to connect enterprise organizations to Ethereum.
[12:59] “At the center of everything is the Unibright UBT token. Unibright token is the staking token, the payment token. It is the token of the Baseledger, whose goal is to connect the enterprise to the ETH mainnet.”
UBT is exchanging hands at $1.59 as of publication. Swope predicts that Unibright will launch before the end of the year.
I
Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inboxCheck Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/GrandeDuc
