As the current crypto bull market continues, with Bitcoin hitting highs of $42,000! All eyes are now on altcoins. We’re all looking for the next microcap gem to pull 10x+ returns, and we think we have found just the one. Sitting at a micro market cap of $1.45 million (time of writing), we introduce our pick to lead this coming “alt season” - PhoenixDAO $PHNX.
The core focus of PhoenixDAO is as to their slogan “digital identity reborn!” the use of digital identity and authentication protocols to power the next generation of DeFi applications. Not only does PhoenixDAO consist of cutting edge DeFi protocols, but the project also hosts a suite of market-ready products. These products include DAO, Staking dApp, Events Marketplace, dApp Store & NFT’s.
Through impressive protocols and products, PhoenixDAO has secured key strategic partnerships with Numio - Source, Ferrum Network - Source and BarterTrade - Source to be used in their upcoming applications, resulting in added $PHNX token usage.
PhoenixDAO DeFi Protocols:
Identity: Powered by ERC-1484, this protocol both creates and links digital identities across different DeFi based dApps, apps and APIs.
Authentication: Blockchain-based 2-factor authentication protocol to verify DeFi app logins and approve transactions using your digital identity.
Payments: Smart contracts to facilitate payments without a 3rd party escrow service.
These protocols are currently in the process of upgrading to incorporate Layer 2 solutions. The addition of Layer 2 solutions will dramatically make transactions faster and more cost-effective for PhoenixDAO and partner's products to eliminate Ethereum's current gas fee issues as demand increases.
What Issues Does PhoenixDAO Solve?
The aim is to build a self-staining decentralised eco-system controlled by the PhoenixDAO community.
DAO - Enables governance of key decision making and the ability for third parties to propose building on the platform which also includes an option to request funding.
Products - Revenue generating to enable growth
DApp store/Hub - One place to access all things PhoenixDAO (dApps/products etc)
Protocols - B2B partnering and technical building blocks
Bullish Updates to Expect in Q1 2021:
- Top Tier exchange listing
- Product launches: DAO, Events Marketplace & NFT’s
- Staking dApp version 2 to include DeFi liquidity farming
- Numio product updates and partnership news
What is Numio?
Built using the PhoenixDAO protocols, Numio is bringing crypto adoption mainstream with the tech and infrastructure needed to reach the unbanked. Unbanked merchant pilots in the US (testing has already begun with Cannabis dispensaries, a $17bil market) and Africa will be launching after Numio releases their products Numio Pay and Numio Vault. Numio will allow unbanked individuals to deposit funds into their accounts via sponsored crypto ATMs and pay for items at the register with Numio Pay. Numio Vault will allow banked and unbanked merchants to accept these funds and payout suppliers or employees using local stable coins.
Fees are a deal-breaker in crypto transactions, so the Numio team have incorporated the Layer 2 scaling solution, zkRollups so that you pay less and your payments are settled instantly.
The PHNX token has been added to the Numio apps, Numio & Vault, both as a means of payment and as a utility. The payment option is self-explanatory and the utility option works as follows.
- Users transferring PHNX will be eligible for ‘cashback’ rewards.
- Every verified identity that is created on the Numio app will see PHNX being staked.
- There will be incentives to send PHNX as part of ongoing Numio Pay Day promotions.
- Point of Sales (PoS) fee discounts for using PHNX.
- Numio will convert 10% of KYC revenue into PHNX and stake this in the PHNX staking dApp for the 365 staking period.
- The 20% instant staking rewards will go to the PhoenixDAO community who can then vote on what to do with them. This includes voting to token burns.
- Numio Authenticator will be used to access DAO software and in DAO voting identity verification.
Download the Numio Application today! https://play.google.com/store/apps/details?id=com.numio.pay
iOS coming soon!
Numio Partners with BTI
Partnership Details: https://medium.com/numio/numio-integration-partnership-with-bti-verified-9d58d8cf20a5
Through Numio’s partnership with BTI, Bithumb and BitForex have already signed up to use BTI’s surveillance software accessible through Numio 2FA.
Note that BTI also works closely with Binance: “BTI development director Marco Paez (Also Numio CEO) told CoinDesk his research firm is working with Binance to crack down on wash trading” Source
If want to learn more about PhoenixDAO or Numio:
Websites: www.phoenixdao.io & www.numio.one
Review based on independent research.