Steemit Crypto Academy - Lesson 7 - Homework Post for @besticofinder
Hello awesome people, how is everyone doing today, we are in a new week and I hope everyone is planning for the new and great week ahead. I’m greatly excited to be part of this lesson 7 and to partake in the topic and share my knowledge on amazing cryptocurrency projects. Really enjoying these lectures, not only for the awesomeness of the topics but also because i find it as a great way to continue to expand my knowledge on cryptocurrency-related topics. This week’s lesson is about how to invest in cryptocurrencies and we are in part 2. In this post, I will be giving my personal opinions about 2 similar crypto project within the top 400 on coinmarketcap…
Cryptocurrency investment is a hot topic now because of the growth the industry has attained over the past few years. We have seen different cryptocurrencies reach incredible all-time highs and having massive exposure to the outside world. A lot of new investors are coming into the space and are beginning to see the benefits and potential of blockchain and cryptocurrency. Hence, seeking out for quality projects to invest in. Sometimes it can be difficult to filter out from the large pool of cryptocurrency projects, however proper research and understanding helps to pick out the quality projects that are most likely to attain success. In this post, the two project I will be talking about are orion protocol and reef finance… two projects who are doing great things when it comes to liquidity aggregation in the blockchain and crypto DeFi space.
Orion Protocol vs Reef Finance
Project Concept
Orion Protocol
Orion Protocol is basically a DeFi project that is operates around the concept of liquidity aggregation from different major liquidity providers like exchanges... Orion Protocol is an open-sourced project, built on the most advanced liquidity aggregator and solves some of the largest problems in DeFi. It operates by collecting the liquidity offered across multiple exchanges in the crypto market into one, universal API. In other words, it aggregating the liquidity of the entire cryptocurrency market into a single decentralized platform.
Reef Finance
Reef Finance is basically a DeFi project and also operates around the concept of liquidity aggregator and multi-chain smart yield engine, any protocol in DeFi can integrate into. The project is powered by Polkadot. One of the core aims of Reef is to simplify the DeFi ecosystem for all users. Some main Reef Finance features include; trading of assets through global liquidity aggregator with access to liquidity from different exchanges and also lending and borrowing, staking.
Social Reach
Orion Protocol
When it comes to the social reach of Orion Protocol, they are pretty active and have a large community. They have a big community and following on twitter with over 47k followers which is their main social reach channel and their telegram channel with over 15k members. Their twitter page shows how active there are in communicating their progress with their community and the engagements they get on their posts. Orion Protocol has partnerships with a good number of other top and quality blockchain and cryptocurrency projects. ORN is listed on some of the top exchanges which included binance.
Reef Finance
Reef finance also has a very good social reach based on how active they are on their social media channels. They have an active following on twitter with over 90k followers on twitter. They are also active on their other channels like medium and reddit. Looking at their social reach, they are very active on twitter which is their main communicating platform to their community about the progress of the project. Reef Finance also has a good number of partnerships and are actively partnering with other quality projects that adds value to the ecosystem. Reef is listed on some of the top exchanges which includes binance.
Project Purpose
Orion Protocol
The purpose of Orion Protocol is to build on the most advanced liquidity aggregator and solve some of the largest problems in DeFi. It aggregates the liquidity of the entire cryptocurrency market into a single decentralized platform.
Reef Finance
The purpose of Reef Finance is to simplify the DeFi ecosystem for all users. It a liquidity aggregator and multi-chain smart yield engine that any protocol in DeFi can integrate into.
Team
Orion Protocol
Orion Protocol was founded in 2018 and launched in 2020 by Alexey Koloskov. The team is made up of a good number of highly skilled and experienced professionals, developers and advisors that are knowledgeable in blockchain and cryptocurrency technology. The Orion Protocol that is put together all share the same goal of the project.
Reef Finance
Reef Finance was founded by Denko Mancheski. Work began on the project in 2020… The reef finance team is made up of a good number of highly skilled and experienced professionals, developers as well that have knowledge in blockchain and cryptocurrency technology. The Orion Protocol that is put together to achieve their goals.
Response From the Market
When it comes to liquidity aggregators, there are not that many in the crypto space at the moment. Orion Protocol and Reef Finance are two top liquidity aggregators at the moment with both offering their own benefits and features. Both Orion Protocol and Reef Finance seem to be ahead of the rest when it comes to liquidity aggregator in the DeFi space.
Compare
| Orion Protocol | Reef Finance |
|---|---|
| Market capitalization: $524,713,867 | Market capitalization: $428,512,446 |
| Liquidity and trading volume: $25,755,716.03 | Liquidity and trading volume: $63,412,974.33 |
| Circulating supply: 20,794,000 ORN | Circulating supply: 11,268,898,338 REEF |
| Active addresses: 7,927 | Active addresses: 18,461 |
| Maximum supply: 100,000,000 ORN | Maximum supply: 20,000,000,000 REEF |
| Transaction count: 88,866 | Transaction count: 96,616 |
My Opinion
Looking at both projects, I would go for Reef Finance simply because of how new the project is and what the project is looking to achieve and the quality partnerships it is making. At the moment, both projects are still a low cap coin or low marketcap coin which means that they still have a lot of room to grow into a mid marketcap. However, Reef Finance seems to be a more attractive choice simply because the price is low and the price potential of the coin. It has more trading volume which shows how much exposure it has. It is listed on some of the top exchanges which includes binance. Nonetheless, it is very important to always do proper research before investing in any cryptocurrency project.
Cc:
@steemcurator01
@steemcurator02
@steemitblog
@besticofinder
Hello @chimzycash ,
Thank you for submitting homework task 7 ! You have done a comparison between Orion Protocol and Reef Finance with a fundamental analysis. well explained. clear facts [6]
Thank you