Utility token ECN managed to get in the top 3 rankings of most popular tokens that are trading on Tron. It reached daily trading volumes on Tron-based exchange “JustSwap” of over $1 million.
Now it leaves Tron for Tezos and Ethereum.
Utility token ECN managed to get in the top 3 rankings of most popular tokens that are trading on Tron. It reached daily trading volumes on Tron-based exchange “JustSwap” of over $1 million.
Now it leaves Tron for Tezos and Ethereum.
The reason for the migration is the fact that JustSwap is “a paradise for sniper bots” according to the ECN team. This results in a value dump of the ECN token due to the fact that these bots are able to drain liquidity from liquidity pools on JustSwap.
To stabilize the price, the ECN team decided to leave the Tron network and migrate fully to the Tezos and Ethereum DeFi ecosystems. The ECN token is also trading on the centralized exchange Bilaxy.
ECN is a decentralized prediction markets platform built on Matic, a side chain of Ethereum.
“The EC Bet Network (token ticker: ECN) is a deflationary ERC-20 token with decentralized finance at the heart of its ecosystem driven by Blockchain technology.
The premise of this project is the production of award-winning staking and betting decentralized applications (dApps) that appeal to all betting enthusiasts and those seeking rewards for long-term participation as stakeholders.
The overarching aim, by making use of Blockchain technology, is to produce the first truly decentralized driven betting and staking platform where the house no longer wins, and all rewards are returned to the consumer.”
While the market on Ethereum-based DEXes is still exceeding Tezos-based DEXes in volume, Tezos enables smaller trades due to minimal transaction costs. Also farms and compounding DeFi strategies can work better on Tezos.
You don’t necessarily need huge TVL and large trading volumes to be able to make good returns. Traders just need to pay attention to different factors.
Tezos has one of the fastest growing DeFi markets in the crypto space and in just over 1 week over $7.7 million has been added to ‘liquidity baking‘, which hopes to facilitate even more DeFi growth.
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