Altcoins like Stellar or Uniswap will have a hard time competing with Newcomer Oryen, which recently gained 100% during its ICO -

Altcoins like Stellar or Uniswap will have a hard time competing with Newcomer Oryen, which recently gained 100% during its ICO –

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Every crypto project launches with a vision for success, but not all projects are built for success. Some crypto protocols are barely sustainable and ride on the market craze to stay relevant. Others, however, have powerful utility tools to add value to users and offer returns to users.

From the onset, projects that demonstrate their versatile utility often receive solid backing from investors and go on to compete against top coins. One such protocol that has evoked interest from crypto enthusiasts is Oryen.

Oryen’s surging popularity has driven interest in its token ORY, resulting in a 2X jump over a month. However, onlookers question whether this newcomer token would take on big players like Stellar and Uniswap.

What Is the Oryen Network?

Oryen Network is a DeFi platform with a built-in auto-staking protocol that offers users a fixed yield for staking their tokens. Regular staking involves placing cryptocurrency assets into a smart contract, often with a time lock, and earning interest. However, in the case of Oryen, the Oryen Autostaking Technic (OAT) is a unique mechanism that allows holders of ORY to keep their tokens in their wallets while the OAT stakes, compounds, and ultimately pays out the yield fully automatically.

In addition, the staking returns are guaranteed at 90% annually, and investors can retrieve your payouts hourly. The project offers ready and steady access to funds allowing users to grow their portfolios.

More importantly, Oryen has conducted an independent, smart contract audit to secure the network with SolidProof. This process further boosts users’ confidence in the staking platform.

ICO Performance of Oryen

Word is out on the success of Oryen’s ICO. After launching at $0.05 in Phase 1 of the presale, ORY trades for $0.10 barely a month later. The platform deploys an incentivized presale mechanism ensuring a rising token price while bonuses decline, thereby rewarding those who join earliest. In the ongoing Phase 2, Oryen projects additional price surges and subsiding bonuses as shown below:

As a result, these fast-paced weekly gains are attracting more crypto traders to join the staking protocol and add ORY to their portfolios.

How Does Stellar Work?

Stellar is an open-source and community-governed network that allows for the movement and storage of money.

The Stellar network facilitates the transfer of value across assets at a minimal cost, aiming to open up the financial system to serve unbanked populations and connect firms with blockchain infrastructure.

Stellar’s native token, Lumens (XLM), functions almost like Ripple’s XRP, being utilized as a bridge for trading across multiple currencies. This functionality of the Stellar network and XLM simplify cross-border transactions.

What is Uniswap?

Uniswap is an Ethereum-based decentralized exchange (DEX) protocol that allows peers to trade between themselves through self-custody or non-custodial wallets. The platform does not require a third party to facilitate trades. Instead, it deploys an automated liquidity protocol rendering the order book and intermediary redundant.

Built on the Ethereum network, the DEX powers the seamless swapping of ERC-20 tokens. This swapping occurs on liquidity pools where network users deposit their tokens to provide liquidity and earn rewards for every transaction on the pool.

The Bottom Line

Despite taking hits in the bear markets this year, Stellar and Uniswap have performed average. Oryen, on the other hand, is crushing altcoins and aiming for the top. If ORY sustains this trend in the near future, XLM and UNI could find it challenging to compete with Oryen’s native token.

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This content was originally published here.