Weekly Altcoin Update – Week 21

This week's HoC Weekly's Altcoin Update will highlight Opulous, Reserve, and Dexalot

Opulous

Music Fungible Token (MFT)

After three sold-out MFT launches, the Opulous Ecosystem will launch a full album MFT. The ecosystem has worked together with multiple big stars such as Ard Adz, Lil Pump, and Soulja Boy. The upcoming MFT launch is an entire album of record artist Kyle, with multiple billboard hits. Kyle has over 2 billion streams and has 6,27 million monthly Spotify listeners. The artist is considered one of the most famous pop stars and has worked with many global stars such as G-Eazy, Chance the Rapper, and Miguel.

MFT Breakdown

The total fundraise of the KYLE album MFT is 550,000 USD, with a total royalty split of 27,5%. The minimum investment amount is 200 USD, allowing most investors to participate in the sale. The MFT sale will happen on the 26th of May and is expected to sell out.

Reserve

Wen mainnet?

The Reserve Ecosystem is slowly but surely getting ready for its mainnet release. Currently, the mainnet is done for 87%, which is a growth of 4% in comparison with last month. The mainnet is a significant event for RSR holders due to the launch of staking. Therefore, allowing Reserve holders to maximize capital efficiency. The mainnet will bring more features to the ecosystem; one is R-tokens. Reserve Protocol will introduce a yield token backed by a basket of DeFI yield-bearing assets. This yield token will allow holders to generate yield without direct exposure to the yielding bearing assets. Therefore, minimizing the complexity threshold for their users and allowing users to have a savings account on the Reserve ecosystem. Additionally, holders are eligible to create their stablecoins backed by a basket of ERC-20 tokens. These tokens will be called R-tokens. Therefore, allowing anyone to create their stablecoins as long as it has enough collateralization.

Ecosystem Growth

The adoption of the Reserve App has been increasing in the last few months. The ecosystem is actively partnering with influential traditional firms (e.g. Mercado Libre), which significantly improves the use case of the stablecoin. The retail adoption of Reserve has dramatically increased; currently, there are 600k users, and it is expected that at the end of the year, this will be around the 800k mark. The same trend is observable with business adoption. Currently, 20,5K merchants accept Reserve, and every three weeks, this increases by 1,000 merchants. The ecosystem's growth is impressive and signals that the business is healthy.

Dexalot

Bots? Be gone!

The Dexalot Ecosystem has been live for a couple of months now; hence, it might be good to showcase its average performance in these months. The Dexalot ecosystem does depend on the user; due to that, the revenue model does rely on usage (i.e. transactions). Therefore, the DEX must keep attracting users to ensure the firm's financial health. The userbase is growing, with an average daily volume of 190K. The highest daily volume was measured in February, 881K USD. The most liquid trading pair is ALOT/AVAX, which is relatively understandable because ALOT, the native token of Dexalot, is only available on Dexalot. However, it signals that investors have an apparent organic demand for the token. The ecosystem currently has launched three projects through the Dexalot Discovery Mechanism, defeating hundreds if not thousands of bots in the process. The Dexalot Discovery mechanism allows users to discover a fair market price without bots front running listings, creating an artificial increase in token value.

Wen subnet?

The Dexalot Subnet is one of the most promising developments of the ecosystem. Currently, the testnet of the Dexalot subnet is online and allows users to experiment and explore the infrastructure. Now, the Dexalot Subnet does decrease the overall transaction cost by 99%, making transaction costs negligible and time to finality close to zero.