In 2023, the global cryptocurrency market saw a major surge in innovative new altcoins that have carved a niche for themselves with their cutting-edge features. DigiToads (TOADS) might be a newly-launched meme coin but its popularity and presale growth have taken everybody by surprise. The decentralized platform sports the features of different tokens because of its hybrid DeFi model. Its unprecedented success has even prompted many EOS holders to switch to DigiToads and explore its features. Plus, its cryptocurrency ico is also drawing a lot of crypto users with its presale growth. So far, the crypto project has completed nine out of 10 stages and collected more than $6.9 million in funding.
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DigiToads: Toppin the list of best altcoins for 2023
DigiToads is a surprise package of features where users can look forward to enjoying a wide array of opportunities for earning passive income. These opportunities range from staking, winning tokens in Web 3.0 games, participating in various contests, trading tokens and even bagging cryptocurrencies for active participation on the platform. The DigiToads team has released a native cryptocurrency that’s based on the ERC-20 standard. Called the TOADS token, the native coin does full justice to its role as the official medium of exchange of the DigiToads ecosystem.
The latest ico of the TOADS token has been selling like hotcakes because of the versatility of the coin. Apart from catering to a myriad of uses on the platform, it also helps in protecting its holders’ returns by keeping price fluctuations at bay with its deflationary token. The deflationary model works by keeping the supply scarce and regularly burning extra tokens in circulation. As the supply is always lesser than the quantity demanded, the price fluctuations are minimal and the token value stays stable.
Another example of how this deflationary model works is DigiToads’ buy and sell tax. All crypto users purchasing or selling the TOADS Token have to pay a small tax. These tax proceeds are collected in terms of the TOADS token. While the majority of the tax proceeds are used for developing the platform and maintaining the staking and rewards pools, a small share is also burned, so that the token supply stays within its stipulated limits.
The TOADS token is also used for governance of the decentralized platform. DigiToads gives its community members the freedom to express their concerns and suggestions about the platform’s operations. If a community member has a suggestion that could improve the DigiToads protocol, they can pitch it before the community at large as a proposal. TOADS token holders have special voting rights which they can use for voting for such proposals.
A lesser-known fact about the DigiToads team is its commitment to saving the environment. The team has decided to donate the proceeds from several upcoming projects to organizations involved in replanting trees and preserving nations. The upcoming projects whose proceeds will be donated include the platform’s official merchandise range. The team would also donate a share of its annual profits every year to support the cause of environmental conservation. The organizations that would receive these donations will be selected by the community members.
What are EOS’ prospects? Here’s what analysts are saying
EOS is a blockchain network offering secure and scalable tools for deploying high-performance dApps and solutions. Its native coin is the EOS token. It leverages the delegated proof-of-stake consensus algorithm for securing the network and verifying transactions. Though EOS has been regarded as a utility-driven project, its recent performance can be described as tepid at best. Going by the on-chain metrics, experts feel that the EOS token is likely to stay bearish in the coming months.
Conclusion
If you compare EOS and DigiToads, chances are that you’ll notice that they tick off all the right boxes and are the top cryptos to invest in. However, analysts believe that the TOADS token has leverage over EOS because of its growth potential. Having a hybrid DeFi model, DigiToads enables its users to experiment with different opportunities for earning passive income. The leeway to experiment allows one to build a robust stream of income that secure your long-term future. At the same time, with its decentralized governance structure, DigiToads involves its community members in ensuring that the platform grows optimally.
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