K33 vice president of research announced that some of the noteworthy altcoin projects in Turkey were excluded from the K33 Vinter Quality Index. Here are the details…
3 altcoins removed from K33 index
K33 Vice President Anders Helseth; He argues that Chainlink (LINK), Arbitrum (ARB) and Binance Coin (BNB) altcoins have been excluded from the K33 Vinter Quality Index because they offer uncertain value capture potential. According to Anders Helseth, the Vinter Quality Index from May to July excluded LINK, ARB and BNB tokens due to questionable post-FTX token economies. K33’s quality filter selects coins in the top 10 cryptocurrencies by market cap to include in the quality index. BNB, ARB, and LINK quality filter result is out of the list.
Binance’s BNB failed to enter the index as its price was based on central exchange’s promises to buy and burn the token. According to the report, the collapse of FTX means that the tokens need more support outside of the central organization. Binance burns BNB every quarter through the Auto Burn mechanism, with 2.2 million BNB recently removed from circulation.
The research firm said that Arbitrum’s use of ETH for transaction fees and ARB’s lack of a clear governance tool confuses the value capture proposition. The token is available with a DAO made up of ARB holders. ARB enters the market to remove Arbitrum’s commercial arm, Offchain Labs, from centralized governance. K33 also excluded LINK, Chainlink’s native token of the oracle network.
cryptocoin.com As we have also reported, Chainlink data providers are locking LINK tokens to incentivize reliable knowledge generation for Blockchain applications. The firm argues that easily copied oracle data reduces LINK’s value proposition. Also, there is little connection between data providers and consumers’ fees. This makes it free to provide data.
Bitcoin and ETH top the live ecosystem
The index noted that among the coins used for payments, BTC has the best network effects. He argues that BTC faces the least regulatory risk and poses the lowest concentration risk. The world’s oldest crypto also has the most vibrant developer ecosystem of all payment coins. On the other hand, there is no evidence to suggest that Ethereum will lose its crown as the leading blockchain for smart contracts. Polygon and Solana follow Ethereum, which still has the highest developer and ecosystem activity.
K33 also noted that Ethereum’s longevity provides diversity in ETH ownership. Moreover, it found that ETH is experiencing the best inflation levels. Solana, on the other hand, has a hefty amount of ownership and the second-best level of inflation. Overall, the relative youth of smart contract tokens means that vesting programs can still concentrate ownership.
Among the cross-blockchain protocols, Cosmos (ATOM) gets the highest score. K33 says ATOM’s planned utility expansion in the Cosmos Ecosystem increases the chances of capturing value for owners. In contrast, the once bustling Polkadot (DOT) ecosystem has quieted down. The once multi-million dollar parachain slots are now dormant. According to K33, DOT holders have little reason to expect much value creation. K33’s Vinter Quality Index ranks Uniswap’s UNI token top among DeFi tokens for its utility in determining Uniswap trading fees. Governance votes control UNI issuance, putting inflation expectations in a positive light.
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