The cryptocurrency market has been experiencing very active days lately. DeFi protocol Frax Finance plans to distribute rewards to FXS coin stakers, inspired by Uniswap. Ethereum-based layer-2 blockchain project Mantle Network reached an all-time high. Concept coins in the gaming industry are also in an upward trend. PIXEL price increased by 21.8% in 24 hours and rose to 0.625.
FXS coin inspired by UNI: Will distribute to investors
DeFi protocol Frax Finance plans to develop a similar system for FXS token holders, inspired by Uniswap’s reward mechanism. In this system, a portion of the protocol revenues will be distributed to users who stake their tokens. Frax CEO and founder Sam Kazemian said in the statement that Uniswap’s idea of distributing some of the protocol fees to UNI token stakers could also be considered for FXS. Kazemian stated that the proposal will be presented to the community and the final decision will be taken by vote.
Information about this plan was also given in the post made on Frax Finance’s Twitter account. The post asked, “Should FXS holders vote to redistribute Frax Protocol revenue back to FXS stakers?” The question was asked. It was also stated that Frax Finance’s annual income is in 8-digit figures and most of this income is kept in the treasury. As we reported at Kriptokoin.com, last week Uniswap offered to distribute some of the DEX’s fee earnings to staked UNI token holders.
ATH on Mantle Network
On the other hand, Ethereum-based layer-2 blockchain project Mantle Network (MNT) reached its all-time high (ATH) with increasing investor interest. On February 26, the MNT price increased by 7.8% to $0.948. Specific to the ecosystem, the total locked asset (TVL) value increased by 4.6% within 24 hours, reaching 220 million dollars. Trading volume increased by 111% to 34 million dollars. Mantle Inu (MINU), the popular meme coin of the ecosystem, showed a 35% increase performance.
Coins in the gaming industry are also on the rise
Looking at market data as of February 26, it seems that concept coins in the gaming industry are in a general upward trend. ALICE increased by 32.34%, PIXEL by 20.22%, ACE by 16.77%, DAR by 15.43%, GALA by 13.08% and TLM by 12.42%. As a result, the cryptocurrency market has been following a very dynamic trend lately.
Developments such as Frax Finance’s reward mechanism offer, Mantle Network reaching ATH, the rise of concept coins in the gaming industry and PIXEL’s price increase reveal the activity in the market. Investors can try to optimize their investments by following these developments. However, as with every investment, there are risks in the cryptocurrency market. It is important for investors to conduct detailed research and consider the risks before investing.
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