HOW CAN LOGARITHMIC FINANCE (LOG) COMPETE AGAINST THE PROMINENT PLAYERS OF THE CRYPTO INDUSTRY LIKE DECENTRALAND (MANA) AND ZILLIQA (ZIL)?

Introduction

If you have the slightest idea about cryptocurrency, you’ll know that there are so many of them. The number increases virtually every day and is fast approaching 20,000 at the time of writing.

What is tokenomics and why is it important?

Of course, there are various types of cryptocurrencies available on the market. For example, some cryptos use tokenomics. Tokenomics is a combination of the words token and economics. Tokenomics makes a cryptocurrency valuable and includes everything like it’s supply and demand characteristics. Several cryptocurrencies utilize tokenomics, such as Decentraland (MANA). Decentraland is one of the biggest cryptos worldwide and ranks at 35 with a market capitalization of 1.74 billion dollars.

Decentraland (MANA) is a virtual reality platform powered by Ethereum (ETH) blockchain. It was released in 2017 with a 24 million initial coin offering (ICO) and later went public in 2020. You’ll have to spend almost 1 dollar to acquire a single token of Decentraland. Another excellent example of a tokenomics dependent platform is Zilliqa (ZIL). It ranks at a respectable number 70 with a market cap above 600 million dollars. Zilliqa is a public, permissionless blockchain that was unveiled in 2019. One token is up for grabs for 0.048 dollars. Zilliqa (ZIL) was designed to facilitate multiple transactions without any glitches and to improve issues of scalability and speed.

Logarithmic Finance (LOG) and Tokenomics

Logarithmic Finance (LOG) is the latest cryptocurrency based on tokenomics. LOG is the governance and utility ERC-20 token that will be used as an incentive for governance and the deployment of the ecosystem. Users can establish a self-governance community by staking their LOG tokens in their wallets. Voting rights are assigned based on these tokens, and users can vote for new features to be implemented. The governance mechanism is a self-sustained virtual entity that consists of smart contracts and regulates the entire organization.

LOG also includes staking. Users can gain staking rewards or passive income based on the tokens staked. The reward rates are calculated as per the lock periods, and users are not permitted to unstake their claim until the period concludes. However, users are also categorized into different tiers and given certain privileges.

Furthermore, Logarithmic Finance (LOG) works by reserving tokens and allocating them for some services, such as future initiatives, marketing, exchanges, community support and liquidity. In terms of token burning, a new system is in place that gradually limits the supply of LOG tokens. Burning is when tokens are removed from circulation to increase their value overall. This deflationary policy enables users to make bigger profits in the long term.

Burning begins at the protocol level where some tokens are burned to distribute rewards. For example, if the burn rate is 10%, then that percentage of all staking rewards will be separated from circulation. This rate is determined by votes from users. Users can also enjoy premium access. Logarithmic Finance (LOG) has a fantastic community, and a new membership initiative will be introduced to benefit loyal members who have invested in LOG tokens. They can avail additional perks and privileges. As for smart contracts, Logarithmic Finance has an auditory process in place. The contracts are reviewed by a high-profile security advisor consultancy. This process ensures that the funds in dissemination are safe and secure. The findings of the audit are released once it is complete.

Conclusion

Why should you invest in Logarithmic Finance (LOG)? For starters, the pre-sale and initial release are usually the best time to invest in any cryptocurrency. Most cryptos follow a similar trajectory before their value plummets until it rebounds and settles. Secondly, LOG is based on the principles of tokenomics, which is one of its unique selling points. It can be a major player in the cryptocurrency market like Decentraland (MANA) and Zilliqa (ZIL) are.

Keywords: Logarithmic Finance, Decentraland, Zilliqa, LOG, MANA, ZIL, Tokenomics & Cryptocurrency