Cryptocurrencies are all about community: from ecosystem developers to token holders and enthusiasts. Here are three tokens that give back to their communities.
What Does It Mean To Be Community-Driven?
Community is a strong indicator of a crypto project’s popularity, and when combined with a project’s fundamentals such as tokenomics and token utility, can be a strong indicator of a project’s value.
Ethereum (ETH) and Solana (SOL) are two of the largest cryptocurrencies and it is no coincidence that they also have two of the largest and most productive communities in crypto.
These are also projects which are principally community-driven in that they are governed by decentralised autonomous organisations (DAO), and also feature dedicated foundations which reinvest into the community in the form of grants, incubator schemes, and more.
More recent innovators are taking different approaches to the concept of community-driven cryptos, such as Pac-Man Frog (PAC).
Upgrade Your Wallet With These Tokens
Pac-Man Frog (PAC) Is A Community-Driven GameFi Token
Pac-Man Frog (PAC) has based its ecosystem on the concept of building a community-driven platform that connects fans of GameFi (crypto, metaverse, NFTs, and blockchain gaming) with creators of those projects.
The Pacman Frog Academy is another way that Pac-Man Frog is building a community around GameFi. This academy will support the development of GameFi projects with a dedicated incubator and gaming branch.
Pac-Man Frog (PAC) is governed by a DAO and network decision-making is distributed across all DAO members. Users can join the DAO by buying and holding Pac-Man Frog (PAC), which is both a governance and utility token on the network, to gain voting privileges.
Ethereum (ETH) Is The Biggest Community-Driven Crypto
Ethereum (ETH) is an open-source platform that anybody can use to create and deploy smart contracts using Ethereum standards, the most popular being ERC20. Developers can also build blockchains and tokens governed by DAOs on the ecosystem.
Although Ethereum itself is not officially governed by a DAO, it is similarly governed by its community, with stakeholders who have governance rights in the Ethereum network coming from all areas of the Ethereum (ETH) network.
Launched back in July 2015, Ethereum has become the second-largest cryptocurrency by market cap, just behind Bitcoin (BTC), a position which it has held in large part because of its huge popularity and community.
It has also become a popular platform for DeFi dApps, with over $70 billion in total value locked in DeFi applications.
How Solana (SOL) Offers A Popular Alternative to Ethereum
Solana (SOL) is another ecosystem for creating and deploying smart contracts such as tokens, child chains, and dApps
It is the ninth-largest cryptocurrency by market capitalization and can be considered an alternative to Ethereum (ETH), with improved scalability, increased transaction speeds, and lower fees.
Solana (SOL) also claims to be the fastest blockchain in the world – currently averaging a throughput of over 1,200 transactions per second compared to Ethereum which can support roughly 30.
As the network uses a Proof of Stake (POS) consensus mechanism, holding and staking SOL tokens confers access to voting and access to the Solana DAO. Users are further incentivized to hold their tokens through the distribution of staking rewards.
Considering Community-Driven Cryptos
Community-driven tokens have proven to be highly successful with examples such as Ethereum (ETH) and Solana (SOL) in the top 10 crypto market capitalizations.
Pac-Man Frog (PAC) is currently in presale, and it’s by far the youngest of the projects in this article, however, this also means that it has great potential for appreciation.
Join Pac-Man Frog’s Presale:
Keywords: Pac-Man Frog, PAC, Ethereum,ETH, Solana, SOL, Cryptocurrencies, DAO