Decentralized financing has become increasingly popular over the past year, and many analysts have pointed to the “Summer of DeFi” in 2020 as the main catalyst for the rallies in Ether (ETH) and Bitcoin (BTC).
In the beginning, it was easy for investors to earn a 4-digit annual percentage return (APY) on a nearly endless number of attractively priced assets at Uniswap, but increased activity on the Etheruem network eventually led to unsustainable spikes in gas charges and serious network congestion.
These skyrocketing gas fees have prevented the average retail investor from engaging in even the simplest of protocol interactions like token approval or staking. The current Etheruem proposals do not provide an immediate solution to these problems. This has motivated investors to look for non-Ethereum-based networks that offer income farming and other DeFi opportunities.
With no simple network-wide solution planned for high ETH fees in the near future, it is worth looking into some of the other options available on competing blockchain networks.
One such option is WINk (WIN), a Tron-based (TRX) gambling platform that allows users to play, socialize, and wager assets across multiple blockchain ecosystems using the native WIN token.
Low fee, multi-asset use
A Tron wallet of approximately 8 TRX is required to interact with the WINk protocol, which is approximately $ 0.48 at current price.
Compared to fees of $ 40 (or more) per transaction on Ethereum, the ability to conduct multiple transactions over multiple days for less than a dollar is very appealing to the average investor.
Similar to many DeFi platforms, the WINk platform offers many staking options for tokens within the ecosystem, including TRONbetDice (DICE) and TRONbetLIVE (LIVE), which token stakers can use to earn a portion of the proceeds from activities in these games.
According to the project’s most recent monthly report, APRs for staking out WIN, DICE and LIVE in the log for the month of January were 64%, 123% and 137%, respectively.
With WIN currently trading at $ 0.000394 and DICE and LIVE priced less than $ 0.05, the low entry cost and staking and staking price for the average retail investor could compare to the sky-high valuations of tokens like Yearn.Finance (YFI) be more attractive) and Aave.
Proof that traders have already noticed this opportunity is WIN’s recent price move, which rose 700% from a low of $ 0.000058 on Jan. 1 to a high of 0.000477 thanks to a record trading volume of $ 344 million USD rose on March 20th.
VORTECS ™ data from Cointelegraph Markets Pro identified an optimistic outlook for WIN on March 18 ahead of the recent price hike.
The VORTECS ™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points such as market sentiment, trading volume, recent price movements and Twitter activity.
As can be seen in the table above, the VORTECS ™ Score peaked at 65 multiple times on March 18, and the most recent increase to 65 occurred approximately six hours before the WIN increase of 90%.
The increased activity of the cryptocurrency sector due to mainstream engagement from institutional investors and big-name influencers like Elon Musk and Mark Cuban has placed the ecosystem with a sustained influx of new users looking to get a high return on smaller investments.
Projects like WIN are well positioned to capture some of this growth as smaller investors look for options outside of the Ethereum network.
The views and opinions expressed are those of the author only and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading step is associated with risks. You should do your own research when making a decision.