The likes of Fantom (FTM) and Terra (LUNA) have established themselves as top DeFi cryptocurrencies within the space and the emergence of Logarithmic Finance (LOG) demonstrates the impact the DeFi industry has had within the digital asset economy.
Logarithmic Finance (LOG)
Aiming to facilitate the cross-chain movement of tokens between multiple blockchains is the key focus for the team at Logarithmic Finance (LOG).
Interoperability among blockchains has long been an issue within the cryptocurrency industry but of late, we’ve started to see more projects dedicate themselves to solving this particular issue with the likes of Logarithmic Finance.
According to its litepaper, Logarithmic Finance “strives to become the next-generation Decentralized Finance and swapping protocol that would allow seamless connectivity and interaction between early-stage blockchain innovators and investors.”
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As LOG is built on Ethereum, Logarithmic Finance aim to integrate with other blockchains such as Tezos (XTZ), Solana (SOL), Avalanche (AVAX), Binance Smart Chain (BSC) and Polygon (MATIC).
Alongside its multi-chain capabilities, LOG aims to achieve 80% reduced gas fees on its transactions as well as NFT auction functionality, which will only be exclusively offered to LOG holders.
Logarithmic Finance’s (LOG) roadmap demonstrates that Q1 of 2022 will be the period in which the LOG token is pre-listed and the integration of both the stablecoin swap and multiple wallets will be launched in Q3 of this year.
Terra (LUNA)
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Terra (LUNA) is a blockchain e-commerce platform that utilises fiat-pegged stablecoins to facilitate cross-border payments.
While LUNA is the utility and staking coin of Terra, the platform possesses several stablecoins such as TerraUSD (UST) that are fixed to match some of the world’s top currencies like the U.S. dollar and the Euro.
LUNA is used as a counterweight to the Terra stablecoin and absorbs its volatility to ensure that supply and demand for the stablecoin remain balanced.
The aim for Terra (LUNA) is to become the leading e-commerce stablecoin payment and DeFi service provider in the world.
Since hitting its all-time high of $103.88 just this past week on March 9th, the altcoin has suffered a 12% dip as it trades at $90.45, at this time of writing.
Despite the dip, it’s been an extremely fruitful period for LUNA whose value has increased by 74% in the past 30 days, making it one of the only major cryptocurrencies to achieve significant price hikes in 2022.
Fantom (FTM)
Fantom (FTM) is a decentralised open-source smart contract platform that is built for the deployment of decentralised applications (dApps) and digital assets.
Launched in 2019, Fantom (FTM) has long been described as an “Ethereum killer” due to its plans for scalability and lower transaction costs.
Lachesis, Fantom’s proof-of-stake (PoS) consensus mechanism possesses almost immediate finality with transactions confirmed and finalised in just seconds, that’s compared to Ethereum’s lengthy block confirmation in its proof-of-work (PoW) protocols.
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Currently trading at $1.07, Fantom (FTM) is down 19.1% in the last seven days and is 69.1% down from its all-time high value of $3.46, reached in October 2021.
Could Logarithmic Finance (LOG) see similar growth to Fantom (FTM) and Terra (LUNA)?
