How is the Utility of Chronoly.io (CRNO) Different from that of Aave (AAVE) and Stacks (STX)?
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The cryptocurrency market has come a long way from the initial launch of Bitcoin in 2009, to the present market scenario, highlighted by the application of the blockchain technology in NFTs or virtual assets, smart contracts, DeFi applications, asset-backed tokens, use in gaming and much more. Given its advantages and real-use cases, the concept of asset-backed utility tokens is gaining momentum in the current market dynamics. A successful example is how the investors have welcomed Chronoly.io with open arms, as its price is up 560% in the third stage of presale.
About Aave (AAVE)
Aave is a Decentralized Finance (DeFi) lending platform that uses smart contracts on Ethereum, to enable users to lend, borrow and earn interest on crypto assets. The platform algorithmically calculates the interest rate on loans while offering instant and collateral-free loans. AAVE is the native token of the Aave platform, which is primarily used as the governance token of the platform. Briefly, AAVE token helps in voting and determining the future outcomes of the platform’s Aave improvement proposals (AIPs) or proposals to improve the platform. Therefore, AAVE is solely the governance token of the Aave platform.
Currently trading in a bearish spell at USD 87, the price of the AAVE token is expected to cross USD 145 in December, 2022. Experts believe that the lending token will show a steady growth over the coming 5 years.
About Stacks (STX)
Stacks, a layer-1 blockchain solution, has been designed to bring decentralized applications and smart contracts to Bitcoin. Stacks brings the layer-2 solutions to the layer-1 blockchain, without compromising the strong security and stability of Bitcoin. Therefore, the project adds more functionality and makes Bitcoin more flexible and smart. Stacks is powered by its native token STX, which forms the basis for executing smart contracts, transactions and registering new users on the platform. Therefore, the utility of the token is restricted to being a medium for carrying out functions, within the Stacks platform.
The Stacks STX token is trading at a price close to USD 0.40, which is an immense dip from STX’s annual high price of USD 3.91, indicating that the token is in its bearish phase. However, for the long-term, Stacks (STX) token price is expected to be bullish as analysts are expecting that Stacks (STX) may hit a maximum price of USD 2.15 by the end of this year.
About Chronoly.io (CRNO)
Chronoly is the world’s premier NFT-backed watch investment platform, that enables users to trade or invest in rare and collectible watches like Rolex, Richard Mille, Audemars Piguet, Patek Philippe, and more, for sums as low as USD 10. The platform is sustained through its native utility token CRNO, which acts as the medium for carrying out every activity on the platform. The token not only enables buying and selling of fractionated watch NFTs but has several use-cases within the platform. These utilities make the Chonoly.io platform unique, setting it apart from other crypto tokens.
What makes Chronoly (CRNO) unique and distinguished?
Firstly, CRNO is an asset-backed token, i.e., one unit of the token represents a fractional price of an NFT, backed by actual physical luxury watch, which can also be redeemed after acquiring 100% ownership of the given NFT. Secondly, users or token holders can draw loans against their NFTs at competitive interest rates. Also, the platform verifies the authenticity of pre-owned luxury watches digitally, by the use of smart contracts. Therefore, the price of these tokens are not only the result of the market dynamics, but also the intrinsic value of the NFT and physical assets they represent.
Moreover, the CRNO tokens can be staked within the Chronoly.io platform to earn some passive income, in the form of annual returns. The platform also undertakes monthly lotteries, which are rewarded in the form of cash or physical watches. Lastly, token holders can enjoy exclusive 30% discounts on transaction and storage fees as well as club membership fees. Therefore, the utility of the CRNO token goes beyond the basic ownership and trading functionalities.
As a result of these unique and practical utilities, the token has seen massive success in its presale, resulting inthe token price being up 560% in its third stage of presale. According to analysts, it is expected to see a 1,000% rise by the end of its presale, on 27th September, 2022.
For more information about Chronoly.io presale
Website: https://chronoly.io/
Presale: https://presale.chronoly.io/register
Telegram: https://t.me/Chronolyio
Twitter: https://twitter.com/Chronolyio
