As decentralized finance continues to evolve, we see an uprising in new players. One such player is Dogetti. Dogetti is touching on the meme and DeFi ecosystem. Hence, we’ll compare it to projects like Safemoon and Aave that have proven themselves in the DeFi and meme ecosystem. This piece will explore their utility and features.
Dogetti: Meme Coin, NFTs, and a Powerful DAO.
Dogetti is an intriguing meme coin at the intersection of three categories of blockchain: memes, NFTs, and DAO. However, before discussing these use cases, let’s look at the Dogetti community.
Dogetti’s first mission is to build a closely-knit community where members get incentivized. Mafia-themed books inspired the name. So, it will be the Dogetti family. Dogetti aims to help every family member grow their net worth by distributing a 2% reflection split of the 6% tax on swaps and NFTs.
Talking about swaps, Dogetti is building a decentralized swapping platform with a meager gas fee. In addition to that, it will be launching its NFT collection. From this collection, buyers can mint their own pet/companion. Dogetti also plans to give out some NFT drops that will be tradeable. Users can also expect to use their NFTs in the metaverse or a P2E game, provided the DAO members vote for it.
As expected, these plans are only a rough sketch of the project’s goals. There is still more room for growth, suggestions, and innovation. Thanks to the establishment of the Dogetti DAO that will lead every decision-making for the project.
As a new dog-themed meme project, so much fun comes with being a part of the ecosystem. Activities like NFT giveaways, meme contests, gleam competitions, and many more will be used to entertain and engage members.
Safemoon: The DeFi Meme Coin
Safemoon, a popular meme coin in early 2021, lacked a solid project or use case and was severely affected by the bear run. However, the team announced the launch of Safemoon V2 on December 12, 2021, which introduced new features and changes under the catchphrase “Innovation for Good.” The protocol will allow for NFTs, blockchain, and metaverse innovation.
Safemoon has also unveiled various new products, including a crypto wallet now available on the Play Store and App Store. This wallet lets users enjoy multi-chain storage, monitor their token’s reflections, and integrate Fiat on-ramp. Additionally, users can check their contact list and access other features. Those interested in the SFM card can sign up for a pre-launch list. Safemoon plans to launch an exchange and a hard wallet as well.
Aave: DeFi Leader
Aave is an Ethereum-based lending protocol that operates without a central authority, allowing users to transact directly with each other.
One of Aave’s notable features is its “flash loans,” uncollateralized loans that can be obtained briefly. These loans benefit decentralized finance (DeFi) applications such as liquidity provision and arbitrage.
To borrow from Aave, users must first provide the collateral equivalent to the tokens they wish to borrow. Aave supports up to 17 cryptocurrencies and using stablecoins like DAI or AAVE tokens as collateral can lead to discounted fees.
With the SEC coming after stablecoins like BUSD and the fall of algorithmic stablecoins like UST, Aave is approaching collateralized stablecoins. AAVE has introduced the GHO token, a collateralized stablecoin backed by the Aave protocol. The GHO token can also be used as collateral on the Aave platform, further expanding the platform’s lending and borrowing capabilities
Follow the links below to join the fantastic Dogetti family.