- Trader Tyler Swope has created a list of three yet unknown altcoins that could skyrocket in the short term.
- The first, Linkpool Protocol, will allow earning LPLA which will be compatible with Chainlink staking pools.
As the crypto market shows signs of recovery after a week of losses, YouTuber Tyler “Chico Crypto” Swope has come up with a list of 3 altcoins that could bring big gains in the short term. These projects are still “in their infancy” and have yet to catch the attention of investors.
First on the list is the Ethereum-based protocol Linkpool (LPL) with a price in the “discovery” phase. Linkpool is the primary “node provider” for the Chainlink Oracle service, and its team was behind the creation of Chainlink Markets and Explorer for Nodes. Users can stake on Linkpool’s nodes.
The protocol is using two tokens, the LPL and the LPLA token, the first is the platform’s native token, the second is the “allowance” token that users receive via staking. This is also the one that will later be used in Chainlink’s staking pools. The second iteration of the staking platform for Linkpool was announced last Friday, allowing LPL tokens to be staked to earn rewards on the ERC-20 token LPLA. To date, more than 90 million tokens have been delegated. Swope added:
I’m ready to earn my LINK staking rewards before Chainlink staking delegation is live (…). They get LPLA tokens, Linkpool allowance tokens, when you stake LPL to a pool.
According to a recent update from Linkpool’s team, when Chainlink’s staking service is launched, LPLA token holders will be able to stake LINK to gain access to the pool. In addition, they will have a new feature to lend and borrow LPLA funds. Lenders will receive a percentage of the borrowed proceeds.
Convergence between NFT and DeFi
Next on the list is an “even more unknown” project focusing on NFTs, called Mist. The platform will issue tokens called “Crucibles” of a limited edition. However, it requires technical knowledge from the user since the interaction is so far only possible via a command line, although there is a pending proposal to make it easier to mint these NFTs.
The third project on Swope’s list is POKTNetwork which was also created by the anonymous founder “Stéphane” of MIST. However, this protocol does not have a live version on Ethereum yet. Designed to split transactions on Ethereum into “inclusion” and “priority”, it is focusing on a “decentralized infrastructure” to build applications. Chico Crypto called POKTNetwork a “decentralized Infura”. Stephane explained how the protocol works as follows:
Inclusion transactions care about censorship resistance. Priority transactions care about position POKTnetwork is a middleware for the mempool which guarantees censorship resistance. flashbots is a middleware for the mempool which guarantees priority positions.
The YouTuber stated that POKTNetwork is in use by more than 2,732 staking nodes and more than one billion Relayed requests since its launch. In the second quarter of this year, the token wPOKT will be made available, while users can start earning rewards if they become operators of a POKT node.