Can Logarithmic Finance (LOG) Mimic the Presale Success of Filecoin (FIL) and Tezos?
by Analytics Insight
April 3, 2022
Logarithmic Finance (LOG) aims to usher in a new era of decentralised finance.
Presales are an interesting phenomenon within the cryptocurrency industry.
They are the event when you find out how much support your project has before its initial launch.
Cryptocurrency projects sell their token ahead of an ICO (initial coin offering), usually at a discounted price.
Both Filecoin (FIL) and Tezos (XTZ) achieved hugely successful presales on their way to becoming major established cryptos in the space.
Just entering the space after founding the project in October 2021, Logarithmic Finance (LOG) will certainly aim to follow in the footsteps of both Filecoin and Tezos.
1. Logarithmic Finance (LOG)
Focusing on solving the interoperability issue that continues to plague the cryptocurrency industry, Logarithmic Finance (LOG) aims to usher in a new era of decentralised finance.
Logarithmic Finance is a layer-III swapping protocol that aims to promote connectivity between early-stage innovators and investors.
Implementing multi-chain integration between the blockchains of Binance Smart Chain (BSC), Avalanche (AVAX), Solana (SOL), Tezos (XTZ), Ethereum (ETH) and Polygon (MATIC) will allow for the expansion of innovators and investors on the LOG platform.
With plans to achieve an 80% rate of reduced gas fees as well as NFT auction functionality that will be provided exclusively for LOG token holders, Logarithmic Finance is attempting to create an ecosystem that can cater to all its users.
With the DeFi industry exceeding its TVL (total value locked) of $100 billion in July 2021, the opportunity for the space is endless and one LOG looks to take advantage of it.
LOG looks to address the lack of a user-friendly interface and poorly written smart contracts by constructing a lightweight user interface as well as a compelling user interface.
The presale of the LOG token is scheduled to take place in Q1 of 2022 in what will be an exciting experience for the newly formed cryptocurrency.
2. Tezos (XTZ)
Using a proof-of-stake (PoS) consensus mechanism, Tezos (XTZ), a blockchain network, is linked to a digital token where its token holders are rewarded for taking part in its PoS protocols.
Launched in 2018, Tezos held its ICO (initial coin offering) in 2017 and raised a staggering $232 million, in what is still one of the biggest presales in cryptocurrency history.
Made up of 65,627 Bitcoin (BTC) and 361,122 Ethereum (ETH), Tezos (XTZ) was soon hampered by legal troubles after some investors failed to receive their tokens.
Valuing their community, XTZ holders can vote on proposed changes to the project.
Its digital token, which is called a tez or a tezzie currently trades at $3.03, which is up 3.0% in the past 24 hours.
Ranked as the 46th biggest cryptocurrency in the world, according to data from CoinMarketCap, Tezos is also designed to make use of smart contracts, like Ethereum.
3. Filecoin (FIL)
Released in 2014, Filecoin (FIL) is an open-source digital payment system that houses its native FIL token.
Aiming to incentivise a network of computer operators to provide a file sharing and storage service, the founders of Filecoin believe it has the potential to become not only the cheapest but the fastest way of storing data on the internet.
Like Tezos, Filecoin experienced an extremely successful ICO in 2017, having raised $205.8 million in what remains one of the biggest ICOs of all time, as well as raising $52 million in the prior presale.
Filecoin (FIL) currently trades at $17.07 with the coin up 0.9% in the past 24 hours.
Crypto is ranked as the 41st biggest cryptocurrency in the world, according to data from CoinMarketCap.
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