Despite the rough start of the cryptocurrency market, it has continued to surprise and thrill critics and enthusiasts alike. The coin market has been able to win the hearts of everyone by constantly overseeing the release of new projects.

What’s even more thrilling is that these new cryptocurrencies are always designed to improve on the deficiencies of their predecessors. That’s why you’ll always find certain projects driving the development of the entire coin market at one point or the other. This piece will reveal the cryptocurrencies with the potential to drive the cryptocurrency market forward – Polygon (MATIC), Tezos (XTZ), and Big Eyes (BIG).

Polygon (MATIC)

When the Ethereum network was released, it quickly became one of the best products to come out of the coin market. As more and more people realised the usefulness and innovative nature of Ethereum, they swarmed the network to take advantage of it. However, it didn’t take long before certain problems started to occur on the blockchain. Many developers wanted to use the Ethereum network at once, and it became congested.

Polygon is currently the most effective solution to the congestion of the Ethereum network. By helping to break down all the clunky aspects of Polygon, this cryptocurrency ensures that users can rest assured while using Ethereum to process all their transactions.

Polygon (MATIC) was founded in 2017. But it currently serves as the host for more than 7,000 decentralised applications and programs. MATIC is the native token for this protocol. As an ERC-20 token, MATIC is compatible with all the programs and dApps found on the Ethereum network.

Polygon’s proof-of-stake (PoS) network offers impressive advantages to users of Ethereum who have struggled to use it. This innovative mechanism supports the staking of MATIC tokens for interest. The interest you earn depends on the number of tokens you have staked. Despite the innovative use case of Polygon (MATIC), it had a capped market supply of 10 billion coins.

Tezos (XTZ)

Tezos (XTZ) is a relatively new cryptocurrency asset on the coin market. But it has already proven that it’s here to stay for a long time. Tezos (XTZ) has set up a good name and reputation for itself because you will find Tezos (XTZ) making partnerships with some of the biggest brands and franchises worldwide. It’s one of the first cryptocurrency tokens to receive as much publicity as it currently is.

So, how will Tezos (XTZ) drive the crypto space forward? Let’s look at some of the most intriguing features of this cryptocurrency. The first thing you need to note about Tezos is that it allows users to participate in decentralised applications, decentralised finance (DeFi), and NFT projects.

Also, instead of relying on hard forks and blockchain splits like other alternatives on the coin market, Tezos adopts a blockchain-based token governance system. This system will allow crypto users to vote on new policies. However, these users can vote based on their economic stake in the cryptocurrency. XTZ is the token symbol for Tezos. You’ll find Tezos (XTZ) in top cryptocurrency exchanges worldwide.

Big Eyes (BIG)

Some may be wondering what Big Eyes (BIG) is doing on this list. It’s a relatively unknown cryptocurrency and has just been introduced to the cryptocurrency market. But when you look deeper than some of the shortcomings of Big Eyes (BIG), it’s clear that this cryptocurrency has many things to offer.

Big Eyes (BIG) is a meme cryptocurrency that’s concerned with offering users more than just jokes and trivial use cases. This cryptocurrency looks at how it can adopt a community-driven approach to transfer wealth from the coin space to meme lovers. Their community-based approach will ensure that every community member actively participates in development decisions. Furthermore, Big Eyes (BIG) will be used in the creation of NFTs. BIG is the token symbol for Big Eyes (BIG).

Big Eyes Coin (BIG)

Website: https://bigeyes.space/

Telegram: https://t.me/BIGEYESOFFICIAL

Twitter: https://twitter.com/BigEyesCoin

Big Eyes Coin Raised Over $2 Million After Stage 1 As A Presale Token, Outpacing Avalanche and Algorand

Crypto space is a dynamic world of its own. Its features have seen significant variations and improvements compared to its early days. These groundbreaking introductions keep increasing as new projects are created and introduced into the crypto space.

Big Eyes Coin is the newest meme coin project that has been making waves since the beginning of its token presale. Evidence shows that Big Eyes will thrive over other crypto projects in this space.

This article will highlight the features of Big Eyes, comparing them with Avalanche and Algorand. It will also highlight Big Eyes’ significant accomplishments during its ongoing presale. Lastly, it would discuss how to buy the Big Eyes utility tokens.

Big Eyes: Making Future Crypto Millionaires

Big Eyes is one of the several projects hosted on Ethereum. It is utilizing this well-founded blockchain to accomplish its goals for its members and the environment.

Generally, Big Eyes is a meme crypto project designed to rival all other meme projects. It is the first crypto to openly challenge the popular Doge-themed meme coins as it introduces its cat-themed project.

Big Eyes intends to end this long trend of dog-themed meme coins and bring about diversification into the crypto space. This is why it chose a big-eyed cat image as its mascot logo. Its goal is to publicize the new face of future meme coins.

Big Eyes has its native ERC-20 cryptocurrency on its token presale. This token presale has experienced significant growth and expansion within the crypto space.

The success of this utility token’s presale gives evidence of its acceptance by crypto community members.

The Big Eyes token presale will occur in stages. So far, it has completed phase 1 of its presale, where Big Eyes successfully raised over 2.5 million tokens. The ongoing phase 2 of the presale is experiencing similar growth to phase 1.

In addition to its utility token, Big Eyes promises to grant its users access to the metaverse. It will utilize the Ethereum blockchain to support the creation and trading of Non-fungible tokens.

This NFT integration will create a new income stream for members of its crypto community. NFT events and giveaway sessions will reward active users and the best NFT creators with NFTs. Indeed, the Big Eyes utility tokens will power the next crypto project to explode.

Big Eyes Compared with Avalanche And Algorand

The Avalanche crypto network is one of the blockchains developed to rival Ethereum. It comprises three sub-chains designed to facilitate smooth operations. The Avalanche ecosystem supposedly solves the blockchain trilemma and is an efficient proof-of-stake platform.

Algorand’s design was steered towards reducing time wasted in transaction processes. Its goal was to lower this time, making its blockchain time and cost-effective. Algorand has its native cryptocurrency, “ALGO,” which it uses to power its proof-of-stake protocol.

The Big Eyes crypto project members will enjoy proof-of-stake functionality thanks to the successful Ethereum Merge. This further helps Big Eyes fully accomplish its goal of fixing environmental degradation.

This merger means that Big Eyes users will be free from the effect of Ethereum proof-of-work plagues right from the project’s launch.

Buy The Presale Token Before Launch

Stage 2 of the Big Eyes token presale is rapidly nearing its end. While the presale lasts, participants can purchase the tokens at a discounted price. There are additional benefits for presale participants and token holders.

This is present in the Big Eyes official Twitter handle. The reward offers users the opportunity to win $250k by having at least $50 worth of BIG tokens and completing simple tasks.

The procedure for buying the Big Eyes Presale is straight and simple. You must first have an ERC-20 compatible crypto wallet installed on your smartphone or PC. Then Visit the presale website via https://buy.bigeyes.space and register on the platform.

After registering on the platform, Connect your wallet to the portal. Indicate the number of tokens you want to buy and approve the transaction. You can claim the tokens at the end of the presale from the claim page.

Big Eyes is new but is already accomplishing big things in the crypto space. Don’t be left out when this crypto project becomes the next Bitcoin. Buy the presale today to enjoy its future benefits.

More information:

Presale: https://buy.bigeyes.space/

Website: https://bigeyes.space/

Telegram: https://t.me/BIGEYESOFFICIAL

The Lagos State Traffic Management Authority (LASTMA) has earned a detestable reputation with motorists. This stems from allegations of corruption and highhandedness emanating from the agency’s indiscriminate arrests of motorists, extortions and imposition of heavy unjustified fines.

But the situation, which has occasionally stirred outrage, has got a legal reprimand that will likely change LASTMA’s method of operation.

On Friday, Justice Olalekan Oresanya of the Ikeja High Court, Lagos, ruled that it’s illegal for LASTMA to impose fines and tow vehicles impounded by its officers.

The judge said in his ruling that there was no part of the Lagos State Traffic Management Law that gives the agency the power to deprive citizens of their right to freedom of movement.

“Public authorities and bodies cannot act in a manner that is inconsistent and incompatible with the fundamental rights of citizens as guaranteed by the Constitution of the Federal Republic of Nigeria, which is the grundnorm,” the judge said.

LASTMA practices became a legal issue following a November 2021 incident, where the agency’s officers impounded the vehicle of one Lawal Aliyu, a legal practitioner, and fined him N20,000 for alleged traffic offence and additional N10,000 as the cost of towing his vehicle. Aliyu had filed a suit challenging LASTMA’s right to impose such fines.

In his ruling, Justice Oresanya added that towing of vehicles and imposition of fines by LASTMA amounts to abuse of people’s rights. He said that even in countries where parliamentary laws are supreme, such as the United Kingdom, public bodies do not act in a manner incompatible with the rights of citizens as enshrined in the European Convention on Human Rights.

LASTMA had argued that its officers rely on the provisions of the law to carry out its operation. But the judge explained that no section of the Lagos State Traffic Management Law empowers traffic officers to impose fines without arraigning the alleged offender in court, to ensure a fair hearing.

“I must add that it is strange and bizarre that the first respondent (LASTMA) towed a serviceable vehicle in good working condition and thereby caused damage to the vehicle in the process when it has not been established that the applicant resisted the arrest of his vehicle, only for the first respondent to subsequently impose a fine on the applicant for a service not solicited by the applicant,” the judge said.

He described the situation as “the height of oppression and impunity,” adding that it is condemnable. He consequently awarded N750,000 in damages against LASTMA.

“On the whole, I give judgment for the applicant in the following terms; I make a declaration that the obstruction, towage, seizure, and impoundment of the applicant’s car with Registration NO. AGL 93 DW on the 23rd November 2021 by the respondents is unlawful, illegal, and unconstitutional as the same amounted to gross violation of the applicant’s fundamental right to freedom of movement enshrined in Section 41 of the Constitution of the Federal Republic of Nigeria, 1999 (as amended),” he held.

“I make a declaration that the imposition and enforcement of LASTMA fine in the sum of N20,000 and LASTMA Towing fine in the sum of N10,000 on the applicant without an order of a court of competent jurisdiction is unlawful, Illegal and is null and void and the said fines should be paid back by the respondents to the applicant.

“The sum of N750,000 compensatory damages is awarded against the respondents for the violation of the applicant’s fundamental rights,” he said.

The Lagos State government has for long, failed to address the concerns of Lagos motorists respecting the activities of LASTMA officers on the field, stirring the belief that the state government is using the agency to generate revenue.

Against this backdrop, Lagosians have applauded the court’s ruling, hoping it would help to curtail LASTMA’s excesses.

The Nigerian Power sector in addition to the previous business licenses mentioned also has a Power Transmission Licence which is basically a license to engage in electricity transmission services between Power Generating Companies (GENCOs) and Distribution Companies (DISCOs) in Nigeria.

This article will be looking at Power Transmission Licences in Nigeria, with a deeper focus on :-

– Examples of Transmission companies currently operating in Nigeria.

– The Regulatory Framework governing Power Transmission Licences in Nigeria. 

– The mode of commencing license applications for Power Transmission Licences in Nigeria.

– The requirements for procuring a Power Transmission Licence in Nigeria.

Are there any Power Transmission companies in Nigeria currently?

Yes there are – the Transmission Company of Nigeria (a Federal Government-owned company) , which is the sole Power Transmission company in Nigeria, meaning that securing and operating a transmission licence will require at the very least liaising with this company as there’s currently no clear Regulatory or Legal provision for off-grid Power Transmission Licences in Nigeria.

 What is the Regulatory Framework governing Power Transmission companies in Nigeria?

Power Transmission companies are governed by the Nigerian Electricity Regulatory Commission (NERC) through its various regulations including the 2010 NERC Licensing Regulations and by virtue of the Nigerian Electric Power Sector Reform Act (EPSRA) , the Federal Ministry of Power, and are to liaise in some cases with the Transmission Company of Nigeria (TCN).

How are applications for Power Transmission Licences to be commenced?

Applications are to be commenced by the applicant’s legal representatives in writing to the Chairman, NERC. These applications are to be sent with 3 paper copies and 1 electronic copy in MS – Office Software format.

Also, the NERC will be at liberty to seek further information from licence applicants within a period of not later than 1 month after a required receipt acknowledgement of the application which must be communicated to the applicant.

Are Power Transmission Licence applications also required to be published in 2 daily newspapers for the required 21-day period for the receipt of objections to the granting of the license?

Yes, they are. Objections if received will be heard by NERC within a 30-day period.

How long does it take to have a Power Transmission Licence application processed?

License application processing by NERC shall be completed in not more than 6 months from the date of the licence application receipt & acknowledgment. 

What are the requirements for the grant of a Power Transmission Licence in Nigeria?

The requirements for a Power Transmission Licence in Nigeria are :-

– A completed application form.

– A certificate of incorporation and MEMART Memorandum Articles of Association of the applicant company

– A registered Title Deed to site or a land sale agreement or proof of submission of title deeds to the relevant land processing agency.

– A Tax Clearance Certificate for the immediate past 3 years.

– A 10-year business plan.

– An off-taker agreement or arrangement.

– A Memorandum of Understanding (MOU) or Letter of intent from an Engineering Procurement Contractor(EPC) where applicable.

– A Memorandum of Understanding (MOU) with an applicant company’s technical partner if applicable.

– Financing agreements or letters to fund the project from financial institutions.

– Network Agreements with licensed Power distribution or trading companies.

– A single line diagram of the entire transmission network (132 & above).

– A single line diagram of the transmission networks showing points of connections to major load power stations.

– Numbers, names and capacities of transmission substations.

– Numbers & lengths of transmission lines.

– Interconnecting transformer details (numbers, types and capacities).

– Details of installed reactive compensation equipment.

– Substation layout diagrams showing:-

a). bus layouts;

b). electrical circuitry, lines, cables, transformers, switch gears etc;

c). earthing arrangements;

d). switching facilities and interlocking arrangements;

e). numbering nomenclature of transformers, circuits, circuit breakers and isolating switches in liaison with the Transmission Company of Nigeria (TCN).

– Transmission line parameters:-

a). designation of transmission lines;

b). route length of transmission lines;

c). number of circuits;

d). per circuit values :-

1. Operating voltage (s).

2. Positive phase sequence reactance – ohms/km.

3. Positive phase sequence resistance – ohms/km.

4. Positive phase sequence susceptance – ohms/km.

5. Negative phase sequence reactance – ohms/km.

6. Negative phase sequence resistance – ohms/km.

7. Negative phase sequence susceptance – mhos/km .

8. Zero phase sequence reactance – ohms/km.

9. Zero phase sequence resistance – ohms/km.

10. Zero phase sequence susceptance – mhos/km.

11. Thermal rating.

– Transformer parameters (for all transformers) :-

a). Rated MVA

b). Voltage ratio

c). Vector group

d). Positive sequence reactance on rated MVA base (maximum, minimum and normal)

e). Positive sequence resistance on rated MVA (maximum, minimum and normal)

f). Zero sequence reactance on rated MVA base

g). Tap change range (+% to -%) and steps

h). Details of tap changer

i). Type of cooling 

– Equipment details :-

a). Circuit breakers

b). Isolating switches

c). Current transformers

d). Potential transformers

e). Lightning arresters

– Relaying and metering :-

a). Relay protection installed for transformers and feeders along with their setting and level of coordination with others.

b). Transmission metering details.

– Transmission lines Right of Way & Trace clearance.

– Details of communication & SCADA (Supervisory Control and Data Acquisition) facilities available.

– Total system peak load to be connected.

– Maximum capacity of the network (MW, MVA).

– Health & Safety policy.

– Environmental Impact Assessment (EIA) for new transmission lines.

What is the validity period of Power Transmission Licences in Nigeria?

Power Transmission Licences have a validity period of 10 years and like DISCO, SO and Power Trading licences, can be extended, amended, suspended (not for more than 6 months) or cancelled.

What are the Fee Implications of obtaining a Power Transmission Licence in Nigeria?

A Power Transmission Licence application comes with the following fee implications :-

Application procession fees – 1 Million Naira.

Licensing fees – $300,000.00(Three Hundred Thousand US Dollars)

Processing fees for License renewal and tenure extension – 500 Thousand Naira

Annual Operating Fees – 1.5% of Licensed transmission company’s charges per Kwh.

Conclusion :- Seeking further guidance on the guidelines on post-licensing operations for Power Transmission companies in Nigeria are still quite vast and as a result, require further consultations with your lawyer. The next article in this series will be talking about a rather different type of Power Sector license – The Captive Power Generation Licence.