Pullix’s staking feature provides edge over Compound and Aave
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Decentralized finance (defi) is increasingly popular as it offers services like liquidity pools, yield farming, staking, and lending on the blockchain. Top protocols like Compound (COMP) and Aave (AAVE) have a following. In the midst of this, Pullix (PLX), is also gaining attention due to its staking feature.
What is Compound?
Compound operates as a lending protocol where users earn interest on their cryptocurrencies.
Users deposit tokens into Compound pools and receive cTokens in return. These cTokens represent their stake in the pool and can be redeemed for the initially deposited cryptocurrency at any time.
Interest is from the increasing exchange rate of cTokens to the underlying asset over time. This allows users to redeem them for more of the underlying asset than initially invested.
Currently, COMP is trading at $49 but could edge higher in 2023.
Pullix aims to reshape defi
Pullix is a platform planning to combine the strengths of decentralized and centralized exchanges.
Its ecosystem includes an exchange, lending protocol, staking, yield farming, copy trading, and VaultX.
However, staking is one of its key features.
Pullix allows users to participate and earn rewards through staking, yield farming, and liquidity provision.
It has introduced a trade-to-earn (T2E) token, enabling users to earn instant rewards from trading.
Traders can stake PLX on Pullix and receive rewards or bonuses.
Token purchases involve a dual allocation: 50% for burning and 50% for rewarding holders who stake.
With a fixed monthly yield of up to 18% APR, Pullix’s reward system distinguishes it from players like Compound or Aave.
In its third presale stage, PLX is available for $0.044.
What is Aave?
Aave is a protocol on Ethereum specializing in automated crypto loans for lending and borrowing.Â
Users can deposit tokens as collateral and borrow other coins–up to a certain percentage of the collateral value.
Token holders earn interest on the funds they deposit.
Aave has over $9.3 billion in liquidity across eight networks and 15 markets.
AAVE is trading at around $97, trending lower, but could recover in the coming sessions.
Conclusion
Pullix aims to differentiate itself in defi through its staking features and other ecosystem elements. The protocol aims to compete with giants like Compound and Aave, explaining why investors are exploring the project in the ongoing presale.
For more information regarding Pullix’s presale, see links below:
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