Crypto Academy Week 7 Homework Post for @besticofinder | bZx vs Raydium
Hey Guys..!!
Meet again with me Wahyu Nahrul on the other Steemit Crypto Academy homework.
Today I will be working on homework given by one of our professors @besticofinder.
The topic of this task is to compare two cryptocurrencies and perform fundamental analysis between the two cryptocurrencies.
The cryptocurrencies that are the object of comparison this time are bZx Protocol(BZRX) and Raydium (RAY).
Whitepaper and Project Concept From Each Token
bZx Protocol
bZx Protocol is a token created by bZx which is a platform that provides a place to borrow crypto assets. bZx also provides its users with a way to trade margin trading types. Margin trading is a trading activity like trading normally, but what distinguishes it from other trading is that users can borrow capital from third parties (here what is meant by bZx) so that the capital for trading will increase so that they can get more profit.
bZx operates in the Ethereum Blockchain system, with this we can be sure that the token output from bZx or what we call the bZx Protocol is one of the ERC-20 tokens which has a transparent transaction system and can be seen by many people.
bZx Protocol was created as a tool for borrowing and lending in the bZx protocol. When someone borrows a token on bZx, that person will exchange their crypto-asset, namely ETH with the bZx Protocol token and the given ETH will be stored in the bZx protocol, this bZx Protocol token can later be used for trading purposes or for saving so that you can get interest from every bZx Protocol token it stores.
Raydium
Raydium is a market that provides token lending same with bZx but with very fast transactions, regular liquidity, and very affordable transaction fees. Raydium runs on the Solana Blockchain which is the Blockchain that calls them the blockchain with the fastest transaction processing of all existing blockchains. And they also claim that the transaction fees on their blockchain are the lowest fees that investors can get.
The protocol that deals with scalability issues or what we call Raydium is a better protocol than other DeFi platforms because it uses the Solana Blockchain system. The biggest problem with DeFi at this time is that the transaction fees are very expensive and the transaction process tends to be slow and this makes potential investors reluctant to put their money into DeFi. With the presence of Raydium, the transaction problem that I mentioned earlier will be resolved, because all transactions that occur will be subject to relatively low fees because of the advanced features of the Solana Blockchain.
The Raydium protocol takes advantage of the Serum order flow to make it easier for its users to access the best prices they can get. It also uses Solana's intrinsic features to move liquidity from the pool to other parts of the network which is a novelty in the blockchain world.
Furthermore, users who have supplied money to the pool will get paid for buying and selling that occurs on the network. The pool on the network will reward the user for contributing to the pool.
Team From Each Token Project
bZx Protocol
The bZx lending platform was discovered by Tom Bean who was the founder and CEO of the bZx platform, which then created a token called bZx Protocol. He is not alone in building the bZx platform, he is assisted by his colleagues who share the same vision and mission. There are 12 of them in number, you can see in the picture below.
Raydium
Meanwhile, Raydium was developed by 5 people which are: AlphaRay, XRay, GammaRay, StingRay, RayZor. You can see more detailed information in the image below.
Comparing the Current Circumstances Between bZx Protocol and Raydium
1. Current Ratings and Prices
Raydium's current rating is at number 255 which is above the bZx Protocol token which is ranked 357.
And the price of Raydium is also much higher than the bZx Protocol, where Raydium is at $8.59 while the bZx Protocol is at $0.5944.
2. Market Cap, TVL, Fully Diluted Market Cap, Market Cap / TVL Ratio
The highest Total Market Cap went to Raydium which had a Market Cap of $ 208,645,002 while bZx Protocol was $111,908,085. Raydium also has a higher Fully Diluted Market Cap value than bZx Protocol at $4,768,942,888 while bZx Protocol is $603,799,422.
The highest Total Value Locked (TVL) is also on Raydium Tokens as much as $158,744,456 and bZx Protocol at $120,026,697.
The Market Cap to TVL ratio of each token is bZx Protocol of 0.9193 and Raydium of 1.31.
3. Volume, Circulating Supply, Total Supply, and Volume / Market Cap Ratio
The highest volume over the past 24 hours between the two tokens was the bZx Protocol token with a total volume of $21,736,698 and Raydium of $3,510,031.
The supply circulation in the bZx Protocol has reached 188,227,197 BZRX numbers from a total supply of 1,030,000,000 BZRX. Meanwhile, Raydium tokens already have a circulating supply of 24,304,672 RAY, which is 4% of the total supply of RAY tokens, which amount to 555,000,000 RAY.
The Volume Ratio to Market Cap for each token is 0.1849 bZx Protocol Tokens and 0.0167 Raydium Tokens.
4. The Highest Price
The comparison of the highest price ever achieved by these two tokens is quite different, where the bZx Protocol Token has only ever reached $1.311997 for the highest price. Meanwhile, the Raydium Token once reached $13.25256 for the highest price.
5. The Lowest Price
Meanwhile, for the comparison of the lowest price ever achieved by the two tokens, it is still held by Raydium which has only ever dropped to $4,972131 and the bZx Protocol Token has dropped dramatically to $0.0990316.
Last Word (Conclusion)
Those are some comparisons of the bZx Protocol and Raydium Tokens, both of which have their respective advantages. But if we look at it as a whole, I think that Raydium is statistically superior to bZx Protocol. From the ranking that each token has, we can see that Raydium is superior to bZx Protocol. And also from the price of each token we can also see that Raydium Tokens are stronger than bZx Protocol, plus the highest price and lowest price factor, Raydium is far superior to bZx Protocol.
But that is just my personal opinion after I have done various researches, you can believe my opinion or not because it is the right of each of us.
I apologize if there are still many mistakes that you can get when reading my explanation earlier, I would be very grateful if you told me in the comments column below.
Thank you for reading my blog, hope it will be useful for all of you. 😁
CC:
Shared on Twitter
Hello @wahyunahrul ,
Thank you for submitting homework task 7 ! You have done a comparison between bZx Protocol and Raydium Token with a fundamental analysis. Clear facts , good comparison and well organized article. nice work [9]
Thank you
Thank you so much professor 😄