A week of asset drops, competitions, and giveaways | by Jason Karsh | @blockchain | Aug, 2021

About USD Coin (USDC)

USD Coin (USDC) is fiat-collateralized stablecoin that offers the advantages of transacting with blockchain-based assets while mitigating price risk. Each USDC is issued as an ERC-20 token on the Ethereum blockchain and is 100% collateralized by a corresponding USD held in accounts subject to regular public reporting of reserves. (Messari)

About Dogecoin (DOGE)

Dogecoin is a meme cryptocurrency with the internet-famous Shiba Inu canine breed as a mascot. The project was introduced on Twitter by Jackson Palmer on November 27, 2013 when he tweeted about “investing” on “Dogecoin”, a made-up name. Some of Palmer’s friends encouraged him to create a real Dogecoin project, so he registered dogecoin.com and started working. Billy Markus saw the website and reached out to Palmer. Markus and Palmer thought Dogecoin would make the cryptocurrency space more palatable to newcomers since, as they built the protocol, Bitcoin was beleaguered by associations with Silk Road and dark web. Palmer exited the Dogecoin project and community in June 2014 by tweeting, “Unsubshibing. Peace”

Unlike a variety of other altcoins launched in 2013 and 2014, Dogecoin has proved itself surprisingly resilient to crypto-asset market cycles, which is speculated to be the result of meme durability. (Messari)

About Efinity (EFI)

The Efinity Token, or EFI, is the native token used for all transaction fees, liquidity, governance and community rewards on the Efinity network. Enjin is the team behind Efinity, a next generation blockchain for digital assets, built on Polkadot. Efinity was built to produce a modern, mainstream and developer-friendly NFT experience. (Efinity Whitepaper)

About SushiSwap (SUSHI)

SushiSwap is a decentralized exchange built on Ethereum that utilizes an automated market making system rather than a traditional order-book. Instead of matching individual buy and sell orders, users can pool together two assets that are then traded against, with the price determined based on the ratio between the two. SushiSwap began as a fork of Uniswap; however, is growing into a more diversified, more grassroots alternative.

SUSHI is SushiSwap’s native governance token. SUSHI can be staked in return for xSUSHI which receives voting rights as well as fees (0.05% on swaps). 2/3rds of SUSHI earned via staking in xSUSHI pools is time-locked for 6 months. Users withdrawing their SUSHI from the SushiBar get their SUSHI back plus whatever fees they earned during the time they were holding xSUSHI. (Messari)

About Stacks (STX)

Stacks (formerly Blockstack) provides software for internet ownership, which includes infrastructure and developer tools to power a computing network and ecosystem for decentralized applications (dApps). Its focus is to replace the reliance on centralized cloud service providers and apps that harvest and monetize user information. The Stacks network allows users to directly own digital assets like usernames, domain names, computer programs, etc. On the Stacks blockchain, computing is done on the edges (i.e., client devices), and applications on the platform store data individually and use the blockchain only when necessary. (Messari)

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