Lido Staked ETH Set to Incorporate NFTs whilst Collateral Network Is Bringing Asset Backed NFTs to the Lending Market
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Few can argue that Ethereum (ETH) has been the most influential crypto project since 2015. Yet, it has faced many problems as the go-to platform for building decentralized apps, most notably high gas fees. Things have changed since Ethereum (ETH) is now on proof-of-stake since September 2022.
Lido Staked Ether (stETH) started in December 2020 when Ethereum (ETH) was transitioning into staking. Lido Staked Ether (stETH) is the most dominant staking solution for Ethereum (ETH), where users can currently earn 4.5% APR for staking the coin.
Alternatively, investors seek appealing altcoins like Collateral Network (COLT), positioned for incredible heights in the next few months as it is estimated to see a 35x price increase. You’ll want to be in the loop while the project is in the presale phase, currently in stage 1 with a token price of only $0.01. So, this article will dive into the Collateral Network (COLT) in more detail.
Lido Staked ETH (stETH)
Staking has long been seen as the safest way to invest in crypto. Investors have options galore that offer them much better returns than they would get from a bank. Yet, established coins like Ethereum (ETH) don’t provide significantly higher yields.
Regardless, when staking first came to Ethereum (ETH), validators needed at least 32 ETH to begin. Even with the current ETH price, this amounts to tens of thousands of dollars.
But Lido Staked Ether (stETH) solved this problem by introducing no minimum deposit. So now, the Lido Staked Ether (stETH) platform wants to introduce NFTs that validators can use to claim their ETH after un-staking through Lido Staked Ether (stETH).
The Lido Staked Ether (stETH) price is the same as Ethereum (ETH), which has performed decently in 2023. Lido Staked Ether (stETH) has increased from $1200 at the start to almost $1900. Still, forecasts for Ethereum (ETH) or Lido Staked Ether (stETH) forecasts are nothing to shout about.
While investors can enjoy the staking rewards and natural price appreciation of Lido Staked Ether (stETH), an altcoin like the Collateral Network (COLT) could prove a better bet. The current price for Lido Staked Ether (stETH) is $1,774.62.
Collateral Network (COLT)
So, what makes Collateral Network (COLT) different to Lido Staked Ether (stETH)? Well, the project is simple to understand. We know how difficult it is to get loans from banks without a good credit score. Using alternative assets like fine art, watches, gold and collectables is harder to reap their value from banks but with Collateral Network (COLT), this is not the case.
There are only a few good platforms for non-traditional loans – that was until Collateral Network (COLT) came along. This is the world’s first lending marketplace for alternative physical assets using blockchain technology.
So, how does it work? Say you have a Breitling watch worth $10k that you’d want to use as security for a loan. You’d simply send it to the Collateral Network (COLT) team to value it, who will store it in a vault after the assessment.
Following this, the platform would mint an NFT for the watch and fractionalise it so that lenders can lend small amounts of money towards a loan required by the borrower in return for interest within a specified period of time. Once the borrower repays the loan with interest, they can redeem the item from Collateral Network (COLT). However, if the loan defaults, the asset is sold at auction and available to buy at a discounted price.
$COLT, the native token of Collateral Network (COLT), will play a vital role in the borrowing and lending experience. The starting price in the first presale stage is $0.01, with a total supply of 1.4 billion.
Only 38% of the token supply is available during the presale. So, you don’t want to miss out, as analysts forecast a 35x increase, and more, when the token gets listed on exchanges.
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