Bitcoin is the oldest, biggest and most important of all cryptocurrencies. 

Created in 2009 by an anonymous person or group going by the name of Satoshi Nakamoto, Bitcoin was the first currency to be built on a blockchain. In essence, a blockchain is a way of recording all the transactions that have ever occurred in a single, public ledger. 

The blockchain uses this information to verify new transactions in real time, preventing double-spending and removing the need for a trusted intermediary such as a bank to check whether the person making the transaction has the funds to do so. The blockchain itself is shared between a vast global network of computers making it impossible to alter.

Bitcoin has a hardcoded upper limit of 21 million coins, which are released at roughly 10-minute intervals through a process known as ‘mining’. In mining, powerful computers compete to solve complex cryptographic problems (hence cryptocurrency). The successful computer receives an amount of Bitcoin while also adding a new ‘block’ of verified transactions to the blockchain. This system is called a Proof-of-Work consensus mechanism

The release of new Bitcoin is designed to be deflationary (i.e. over time one Bitcoin should gain more purchasing power). Every four years, the network undergoes a process called the ‘Halving’, which halves the amount of Bitcoin sent to successful miners. At the beginning, each block generated 50 Bitcoin. Three Halvings later, that’s been reduced to 6.25 Bitcoin. It’s expected that the final Bitcoin will be mined in the year 2140.

As the oldest and most traded cryptocurrency, you’ll often see Bitcoin used as a trading pair for altcoins. For many cryptocurrency traders and investors, the goal isn’t to earn more fiat currency (which are inflationary by design) but rather to accumulate as much Bitcoin as they possibly can.

Note: there are a number of so-called Bitcoin ‘forks’ in existence that split off the main chain and became independent currencies. These include Bitcoin Cash (BCH), Bitcoin Satoshi’s Vision (BSV), Bitcoin Diamond (BTCD) and Bitcoin Gold (BTCG). Always make sure when you’re buying Bitcoin, you’re buying coins on the original chain.


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Bitcoin

Ethereum is the second biggest cryptocurrency and the crypto that pioneered the broader use of  blockchain as a technology.

Created in 2015 by 19-year-old prodigy Vitalik Buterin, Ethereum inverted the Bitcoin model, emphasising the blockchain over the currency itself. If blockchains could verify monetary transactions, then why not shipping manifests, airline bookings, website code or home ownership?

Ethereum’s biggest innovation in this respect was what Buterin termed ‘smart contracts’ – programmable and unalterable contracts that would auto-execute when certain conditions were met. This simple idea meant Ethereum could become the first true blockchain platform: a blockchain upon which decentralised apps and blockchains could be built. 

Participants pay so-called “gas” fees to use the network, which are denominated in Ethereum’s native cryptocurrency, Ether (ETH). The more demand there is, the higher the gas fees.

While there’s no hardcoded upper limit on the amount of ETH to be created like there is with Bitcoin, Ethereum has introduced a mechanism that means a certain amount of ETH is burnt in every transaction, helping to reduce inflationary pressures. It’s predicted that over time this will lead to more ETH being destroyed than created.

The network is powered by a Proof-of-Stake consensus model that requires 99.95% less energy than Proof-of-Work models like Bitcoin. This means that people who hold a certain amount of ETH can stake it to help verify transactions, receiving newly issued ETH in the process. 

Many of the biggest and most exciting projects in the crypto space are built on Ethereum. The platform’s ERC-20 standard is the architecture that powers more than 20 of the coins on CoinJar – including all the major DeFi projects – while NFTs (non-fungible tokens) came into being thanks to ERC-721.

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Ethereum

Dogecoin is the original memecoin. Launched back in December 2013 as a parody of the first wave of Bitcoin mania, Dogecoin took as its mascot the Shiba Inu featured in the then omnipresent doge meme (much wow!).

Dogecoin has no defined purpose. Intended as a comment on Bitcoin’s replicability and the low barrier to creating crypto knock-offs, it could perhaps, nine years on, be best thought of as a joke that’s gotten way out of hand.

However, the community that has formed around Dogecoin is undeniably strong (ft. Elon Musk) and its low unit price (courtesy of a 132 billion coin supply) and generally tongue-in-cheek nature means that DOGE has become a common entry point for those getting started in cryptocurrency.

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Dogecoin

Solana is one of the biggest Layer 1 alternatives (i.e. the smart contract platforms that emerged after Ethereum). Like Ethereum, Solana is used to power an array of web3 dApps, DeFi, NFTs and more.

Using a novel Proof-of-History consensus mechanism in tandem with a traditional Proof-of-Stake model, Solana claims to be the world’s fastest major blockchain, with the capacity to process more than 50,000 transactions per second at a per transaction cost of less than $0.01.

SOL is the native token of the Solana network. It’s used to power dApps and pay for transaction costs on the network. New SOL tokens are distributed to those who stake their coins to help secure the network.

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Solana

Ripple was created back in 2012 as a purpose-built international payment protocol. 

One of Bitcoin’s greatest strengths is the ability to conduct frictionless and truly global transactions. Ripple Labs took that and made it Ripple’s primary focus. 


The Ripple network uses an innovative multi-currency liquidity pool – denominated in the native XRP token – to allow clients to convert significant sums of money from one currency to another instantly and with almost zero fees. The more valuable the XRP in the liquidity pool, the greater the value that can be transferred.

The transactions are verified by a global network of independent nodes using a system known as Proof-of-Correctness, which allows thousands of transactions per second with the same energy intensity as sending an email.

Ripple is a private company that was one of the first to design a blockchain that they owned and had control over. Rather than new XRP being issued over time, the entire 100 billion token supply was minted on day one and is being distributed over time by the company.

While this runs counter to crypto’s vision of decentralised networks with no real owners, private ownership allowed Ripple to develop their tech quickly and build an extensive corporate customer base. It has also led to repeated run-ins with America’s SEC over the question of whether XRP tokens were an illegal security.


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Ripple

Shiba Inu is an Ethereum-based alternative to Dogecoin (AKA the original memecoin).

Launched in 2020 by someone known only as ‘Ryoshi’, SHIB has no real purpose (like DOGE). However being built on Ethereum means that it can be used to create DeFi products like the decentralised exchange (DEX), Shibaswap.

While SHIB is essentially a very, very expensive crypto in-joke, with CoinJar Card users can nominate SHIB as their spend account and use it for in-store and online purchases. And really, is there any better conversation starter than telling a mate you just shouted them coffee with SHIB?


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Shiba Inu

Cardano is one of the longest-running Layer 1 alternatives (i.e. the smart contract platforms that emerged after Ethereum). 

Conceived in 2015 by Charles Hoskinson, one of the co-founders of Ethereum, Cardano was intended as a specifically commercial version of ETH, as well as one whose development would be shaped by academic research and peer review. 

Using a custom Proof-of-Stake consensus algorithm named Ouroboros, Cardano claims to be more distributed, secure and energy efficient than Ethereum – and is the largest PoS coin by market cap. 

Cardano has an upper limit of 41 billion ADA tokens, around half of which were sold to investors in the 2017 ICO, with the remainder being distributed to those staking their coins to secure the network. Like ETH, ADA is used to power dApps and pay for transaction costs on the network.

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Cardano

Tether (USDT) is the original stablecoin. The Tether whitepaper was first released back in 2012, although the token itself didn’t find widespread use until it was adopted by the exchange Bitfinex in 2015.

At a time when it was difficult for cryptocurrency exchanges to find reliable banking and fiat currency partners, Tether offered a way around the roadblock for the growing crypto industry. Offering a token that Tether claimed was backed 1:1 with actual US dollars, users could trade USDT without the fiat currency itself having to go anywhere.

Cut to 2022 and the stablecoin market is booming, with almost US$150 billion of USD-pegged coins in circulation. But Tether remains the biggest player by far, accounting for more than 50% of the market and essentially functioning as the crypto world’s reserve currency. 


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Tether

Tezos is a long-running Layer 1 alternative (i.e. the smart contract platforms that emerged after Ethereum). Like Ethereum, Tezos is used to power an array of web3 dApps, DeFi, NFTs and more.

Tezos uses what it calls a liquid Proof-of-Stake consensus mechanism, which operates in a similar fashion to regular PoS systems, but also allows users to loan their token staking rights to others to improve their chances of ‘mining’ the next block and receiving new XTZ. In the Tezos ecosystem, the act of pushing verified blocks to the blockchain is known as ‘baking’.

XTZ is the native token of the Tezos network. It’s used to power dApps and pay for transaction costs, as well as granting governance voting rights to holders.

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Tezos

One of the true crypto originals, Litecoin was started back in 2011 by Charlie Lee as a ‘lite’ version of Bitcoin.

Lee wanted to make a version of Bitcoin that was better suited to everyday transactions, so he altered the code to make transactions cheaper and faster. Litecoin is often referred to as the silver to Bitcoin’s gold.

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Litecoin

Released in 2017, Chainlink was one of the first and remains the most important blockchain “oracle”.

Oracles were invented to overcome a basic issue with smart contracts: how do you verify that a condition has been met if that condition is dependent on data from the real world? e.g. the price of Bitcoin on a certain date. 

Chainlink creates an incentive system for ‘oracles’ to provide accurate and up-to-date information that smart contract operators can draw on when creating triggers for their transactions. As they provide more and more correct data, oracles gain ‘reputation’ and are rewarded in the form of LINK tokens.

LINK tokens can be staked to help verify transactions on the network and are also used by smart contract developers to pay for the services of the network’s oracles.

Chainlink is an ERC-20 token built and operating on the Ethereum network.

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Chainlink

Polkadot is the leading layer-0 network – that is, a blockchain whose primary purpose is to facilitate transactions between different blockchains.

Polkadot does this by allowing the creation of secure “parachains” that allow you to conduct transactions between blockchains (i.e. Ethereum and Solana). Users use DOT, the native token of Polkadot, to reserve private space on these parachains. When the transactions are completed, the parachain automatically finalises them on their native blockchains.

DOT is also used as a governance token, giving users the ability to vote on changes to the protocol and is distributed to those who stake their tokens to secure the network.

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Polkadot

ImmutableX was designed as a layer-2 scaling solution for NFTs on the Ethereum network. Using a technology known as zk-rollups, ImmutableX has eliminated gas fees for creating and trading NFTs, while increasing transaction speed and capacity and also professing to be carbon neutral.

IMX is the utility token of the ImmutableX network, used for network fees and staking, as well as allowing holders to take part in decisions about the protocol and fee structures.


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Immutable X

EOS is a protocol layer blockchain (similar to Ethereum) on which people can transact, launch smart contracts and build decentralised apps, including DeFi and NFT projects.

One of the largest ever ICOs (initial coin offerings), EOS was designed to improve on some of Ethereum’s shortcomings, particularly around energy efficiency, transaction speed and ease of programming.

A carbon neutral blockchain capable of handling 10,000 transactions per second, EOS uses a Delegated Proof-of-Stake system that enables all users to take part in the staking economy and helps confirm transactions in less than a second.

EOS is the native token of the EOS network. It’s used to pay transaction fees and given out as staking rewards for holders who help secure the network.


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Polygon (formerly known as the Matic Network, hence the token ticker MATIC) is a layer 2 scaling solution built on the Ethereum network. 

Offering faster and cheaper transactions than the Ethereum network itself, Polygon enables developers to build and run sophisticated dApps (decentralised apps) that can process thousands of requests a second across multiple blockchains – while still taking advantage of Ethereum’s considerable network effects.

Like the ETH token, MATIC is the fuel that powers the Polygon network, facilitating the payment and settlement of transactions. Polygon uses a Proof-of-Stake consensus mechanism, which means that holders of the token can “stake” their tokens and receive more MATIC in return.


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Polygon

Loopring is a layer-2 scaling solution built on the Ethereum network. 

With a focus on improving the performance and security of decentralised exchanges (DEXs), Loopring uses a technology called zkRollups to achieve transaction throughput of up to 1000x the regular Ethereum network at 1/100th of the cost. 

LRC is the native token of the Loopring network. It’s used to pay for transactions and take part in governance decisions, and is paid out to those who participate in the network’s liquidity pools.


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Loopring

Algorand is a protocol layer blockchain (similar to Ethereum) on which people can transact, launch smart contracts and build decentralised apps, including DeFi and NFT projects.

Launched in 2019, Algorand was designed as a Pure Proof-of-Stake platform with an emphasis on energy efficiency – it’s one of the only carbon neutral blockchains – and transaction speed: the network is capable of handling 46,000 transactions per second.

Algorand is the brainchild of Turing Award winner Silvio Micali, the inventor of a number of highly technical blockchain innovations such as zero knowledge proofs. 

ALGO is the token that powers the network, used to pay transaction fees (currently 0.001 ALGO per transaction) and given out as staking rewards for holders who help secure the network.


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Algorand

Stellar was started in 2014 by one of the founders of Ripple and operates in a very similar fashion to Ripple itself. 

However, where Ripple is a product of Ripple Labs, a private company, aimed at the traditional banking system, Stellar is overseen by the not-for-profit Stellar Development Foundation and is designed to be an open and freely accessible system for transacting and exchanging both fiat and digital currencies by everyday people all over the world. (Stellar is often linked to the crypto drive to ‘bank the unbanked’).

Like Ripple, Stellar relies on a global network of trust nodes to continually check and re-check transactions on the ledger to ensure their accuracy. The Stellar network can process tens of thousands of transactions per second and uses less energy per transaction than Visa.

The native token of the Stellar network is the lumen (XLM). Lumens are used to cover the network’s minimal transaction fees and can also be used to provide extra liquidity if required to reconcile differences between two currency pools.

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Stellar

Axie Infinity is a blockchain-based game built on the Ethereum network. Using similar mechanics to the Pokemon universe, players collect creatures known as Axies and raise, battle and trade them with others. Axies are randomly generated, meaning that each one you collect is an NFT (non-fungible token).

One of the most popular blockchain-based games, Axie has hundreds of thousands of users who have traded hundreds of millions of dollars worth of Axies in the in-house NFT marketplace.

AXS (Axie Infinity Shards) is the governance token of Axie Infinity. It gives holders the right to vote on upgrades to the game and how to use the community treasury and can also be used in the NFT marketplace. Users earn AXS either in-game or by staking their tokens.


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Axie Infinity

UNI is the native token of the world’s largest decentralised exchange, Uniswap. An ERC-20 token built on top of the Ethereum network, UNI is a governance token, which means holders can vote on the funding of grants, partnerships, liquidity mining pools and other proposals.

A decentralised exchange is one where matching between buyers and sellers is entirely automated, facilitated by users who stake their tokens in trading pair ‘liquidity pools’. The deeper the liquidity pool, the better the prices available to potential buyers.

During the DeFi boom of mid-2020, Uniswap became the go-to platform for listing and trading DeFi tokens. While its success spawned numerous competitors on a number of different platforms, Uniswap remains the most widely used dedicated exchange with billions of dollars in Total Value Locked (TVL) – a measure of how much capital is locked into the protocol’s liquidity pools.

In September of 2020, Uniswap airdropped 400 UNI tokens to every Ethereum wallet that had ever transacted through Uniswap, with a unit price of US$3 per token. Tokens are also distributed to liquidity miners, as an incentive to stake tokens like ETH and USDT in liquidity pools.


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Uniswap

CurveDAO is an Ethereum-based automated market maker (AMM) that facilitates the exchange of stablecoins and other so-called “wrapped” DeFi tokens. (These are tokens that people receive in return for contributing their coins to other liquidity pools).

In essence, Curve offers interest-bearing products to token holders, who contribute their stablecoins and wrapped tokens to liquidity pools so that other users can exchange their coins.

Curve’s major innovation was allowing the direct exchange of one token for another, rather than having to go through an Ethereum-pairing, as was the case with Uniswap at the time. (This has been changed in Uniswap’s latest releases). However, Curve’s advantage remains the depth of its liquidity pools, allowing users to conduct large stablecoin transactions without slippage.

CRV is the governance token of the Curve DAO (decentralised autonomous organisation), allowing users to vote on changes to fee structures and the Curve protocol itself.


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Curve DAO

Amp is a multi-platform insurance token designed to protect transfers while they’re processed by the blockchain. It achieves this through the use of shared collateral pools.

As blockchain transfers can take anywhere from a few seconds to a full day (depending on the network and how much congestion it’s experiencing), Amp offers users protection against price volatility while the transaction is being processed. The collateralised system also means that assets can be used by recipients instantly without having to wait for network confirmation. Amp can be used to source collateral for real world asset transfers too.

AMP is the token used in the Amp collateral pools. People contributing AMP tokens receive more AMP as a reward, but their tokens can be liquidated in the case of a failed transaction. People using the collateral pay 1% transaction fees which are used to buy AMP on market and distribute it to those staking their tokens.


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Basic Attention Token (BAT) is the brainchild of Brendan Eich, the creator of both Javascript and Mozilla/Firefox. 

Recognising that the internet economy is built around the attention of its users, Eich designed a system where users can be paid directly for their attention. Basic Attention Token is essentially a blockchain-enabled ad exchange (built on Ethereum) that allows advertisers to pay BAT to publishers to post ads, while users are paid in BAT for giving these ads their attention.

Key to the mission is their crypto-native Brave browser, a Chrome build that blocks ads, trackers and malware and comes with in-built Ethereum wallet support (where user earnings are deposited).


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Basic Attention Token

Dai (DAI) is a decentralised US dollar stablecoin operating on the Ethereum network. 

Unlike its centralised cousins (i.e. USDT, USDC and PAX), DAI doesn’t promise that its supply is backed 1:1 with US dollars. Instead, it holds a diverse basket of ERC-20 tokens on behalf of users, who are compensated with an equivalent amount of DAI.

When the value of the tokens goes up, more DAI is introduced into the system but people can still buy back their collateral at the original price. When the value of the tokens goes down, parts of the asset basket are liquidated to maintain the peg, meaning your collateralized position will also be reduced and you’ll receive back less than you put in.

DAI has been developing its Collateralized Debt Position (CDP) system since 2014 and it remains the biggest player in the decentralised stablecoin space. DAI’s governance token – allowing holders to vote on changes to the DAI protocol – is known as Maker DAO and is also available on CoinJar.

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Maker Dai

The Sandbox is a virtual world (similar to Minecraft) that allows players to build, own and monetise land and other assets that they’ve created as NFTs. Companies and people purchase land so that they can host events, set up games, advertise projects or just for the sake of it.

SAND is the native token of the Sandbox, used for transactions and interactions, as well as to offer staking rewards and allow people to take part in governance decisions. 


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The Sandbox

Chiliz (CHZ) is the token that powers Socios.com, the world’s first blockchain-based fan token platform.

Users use CHZ to buy tokens for their preferred club, which then gives them access to specific fan content and experiences.

More than 20 of the world’s biggest sporting clubs have already released a token through Socios, including Manchester United, Juventus, Paris Saint-Germain, AC Milan and FC Barcelona.


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Chiliz

Mirror Protocol is a decentralised derivatives platform that allows for the creation and trading of synthetic versions of real-world assets through what’s known as Mirrored Assets. Users create markets by committing 150% of the value in collateral and the price is recalibrated every 30 seconds using decentralised oracles (currently performed by Band Protocol).

MIR is the protocol’s governance token, giving holders the ability to vote on changes to the protocol and the development of the project. It can be earned by staking MIR tokens, as well as providing collateral to liquidity pools.


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Mirror Protocol

OMG Foundation (formerly known as OmiseGO) was one of the first layer-2 scaling solutions built on the Ethereum network. 

With a focus on transferring value and creating decentralised merchant and consumer networks, OMG uses what's known as a Plasma chain to enable high speed, cheap transactions while still leveraging the security of the main Ethereum blockchain.

OMG is the native token of OMG Network, used to pay for transaction fees and awarded to holders who stake their tokens.

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OMG Network

Audius is a decentralised music streaming service designed to be an artist-focused alternative to major players such as Spotify and Apple Music. An ERC-20 token operating on the Solana Network, Audius aims to return revenue to the artists themselves by automating the music upload, hosting and payout process.

AUDIO is the token that powers the Audius network. Artists can stake AUDIO to improve their rankings and receive a share of network fees, as well as vote in changes to the Audius protocol and fee structure. AUDIO is also paid out to artists and contributors that contribute the most listened to songs and playlists each week.


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Audius

Cartesi is a multi-chain layer-2 scaling solution built on top of the Ethereum network. 

By using what’s known as Optimistic roll-ups to power its smart contracts, Cartesi aims to reduce transaction fees while dramatically improving network performance. Cartesi also lets developers use mainstream coding languages and gives them access to larger file storage, enabling the creation of more complex dApps (decentralised apps).

The Cartesi Token (CTSI) is the primary utility token of the Cartesi network. CTSI is handed out in the form of staking rewards and is used to pay for network fees. 


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Cartesi

Aave is a decentralised lending platform built on the Ethereum network.

Originally started as a peer-to-peer lending network, these days Aave (Finnish for ‘ghost’) operates through token lending pools with free-floating interest rates a la Compound. The less funds available to borrow, the higher the interest rates and vice versa.

The Aave protocol lets borrowers pick between fixed and variable interest rates. It also permits what’s known as ‘flash loans’ – basically, very, very short-term loans that are resolved within a single Ethereum block.

The AAVE token lets holders vote on changes to both the Aave protocol and borrowing/lending incentives, and can be staked as ‘collateral of last resort’ in order to earn more AAVE. 


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Aave

Quant Network is the organisation behind Overledger, a proprietary technology that allows different DLTs (distributed ledger technologies) such as blockchain, DAG and Tempo to communicate with one another.

Overledger is an API that lets a company’s existing IT infrastructure plug into all major blockchains and DLTs, helping businesses to more easily adopt blockchain technology, while developers can also use the network to build decentralised multi-chain applications (MApps). 

QNT is the token that powers Overledger, being used to pay for network costs and annual licence fees, as well as being staked to help secure the network. In order to build MApps, developers must hold a certain amount of QNT, which are locked up for 12 months.


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Quant

USDC is a US-dollar pegged stablecoin built on the Ethereum network. At all times the value of a single USDC token is one US dollar, hence the term stablecoin.

For every USDC in existence, CENTRE – an open source project bootstrapped by Coinbase and Circle – guarantees that there is one US dollar sitting in their reserves. USDC is, in essence, a tokenized dollar, permitting holders to make transactions on the crypto markets as if they were using actual US dollars.

There are a number of fully licensed, registered issuers of USDC and their US dollar holdings are audited monthly to ensure that the USDC network remains fully backed at all times.


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USD Coin

Fantom is a protocol layer blockchain (similar to Ethereum) on which people can transact, launch smart contracts and build decentralised apps, with a focus on DeFi projects.

Built on top of Ethereum, Fantom employs a unique consensus mechanism (known as Lachesis) to deliver faster and cheaper transactions – typically 1-2 seconds and costing 0.001 cents. Fantom is capable of handling thousands of transactions per second.

FTM is the native token of the Fantom network, used to pay for transactions and given to users in the form of staking rewards. It also offers holders the ability to vote on changes to the protocol.


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Fantom

SushiSwap is an example of an automated market maker (AMM). The cornerstone of the decentralised finance (DeFi) movement, AMMs are decentralized exchanges (DEXs) which use smart contracts to create markets for any given pair of tokens. 

SushiSwap launched in September 2020 as a fork of Uniswap, the most popular DeFi trading platform. The platform aimed to be a more community-focussed and effectively decentralised version of Uniswap, as well as implementing a range of liquidity and reward improvements to encourage usage.

SUSHI is the native token of Sushiswap. It can be staked to receive a portion of the trading fees on the platform and offers holders voting rights in any governance decisions.


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SushiSwap

Compound is a decentralised lending platform on the Ethereum network. 

In a nutshell, users deposit assets with Compound to earn interest, while others can borrow those assets by paying interest. It functions in a similar manner to a bank, but with an automated protocol replacing the branches, infrastructure and authority of traditional banks.

Lending pools are created for each asset, with interest rates determined on a supply-demand basis. If people want to borrow a scarce asset, the interest rate goes up. If there’s more supply than demand, the interest rate goes down.

When a lender contributes tokens to a pool, they receive an equivalent amount of cTokens in return (i.e. cETH, cUSDT). Borrowers must collateralise their position

COMP is the governance token for the Compound protocol. Holders of the token can vote on changes to the protocol. COMP is distributed to both borrowers and lenders as an extra incentive to keep the platform’s money markets active.

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Compound

Fetch.ai is an Ethereum-based system that allows users to train and utilise AI and machine learning agents in a variety of applications. 

The focus of the project is network optimisation – using distributed machine learning resources to create better and more efficient outcomes for transport, energy and supply chain networks. 

The FET token is used to purchase access to these computing resources, as well as data sets on the Open Economic Framework, the network’s data marketplace. It is also used to reward stakers who help validate the network.


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Fetch.ai

Universal Market Access is a platform built on the Ethereum network for the creation of synthetic and derivative asset marketplaces.

While similar to Synthetix, UMA’s focus is on providing the infrastructure for other companies to build their own marketplaces, while also offering a more diverse and niche range of trading opportunities.

UMA is the governance token of Universal Market Access, giving holders the ability to vote on changes to the protocol’s payment mechanics and system upgrades.


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Universal Market Access

Founded in 2017, Enjin (ENJ) has been one of the pioneers of non-fungible tokens (NFTs). NFTs are one-of-a-kind markers that allow the holder to prove absolute ownership of a digital asset. 

Through a process known as minting, Enjin makes it easy to create NFTs on the Ethereum blockchain. ENJ is the currency that powers this process, allowing holders to both mint and “melt” NFTs.

Enjin’s focus has always been the video game industry and their product suite allows developers and gamers to create, trade and share their in-game NFTs.


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Enjin

Synthetix is, as the name suggests, a platform built on the Ethereum network for issuing synthetic versions of real world assets – what they call ‘synths’. This includes everything from other cryptocurrencies, to fiat currencies, commodities and real world stocks such as Netflix, Apple and Tesla.

One of the few major cryptocurrency platforms founded and based in Australia, Synthetix has developed a pooled collateral system that allows every possible synth pair to trade with the same, theoretically limitless liquidity. 

Users lock up their SNX tokens and receive their chosen synth tokens in return – for example, sETH, sBTC, sOIL, sGBP. SNX is also used to pay for each trade, with the proceeds being distributed to those staking their coins as collateral. These users also receive general staking rewards.


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Synthetix

The Kyber Network aims to solve the shallow liquidity issues that can plague DeFi protocols. It achieves this by creating cross-platform liquidity pools so users across different protocols and wallets can all trade from the same basket of assets. This results in better prices for buyers and more seamless transactions.

KNC (Kyber Network Crystal) is the native token of the Kyber Network. It’s paid out as an incentive to liquidity providers and stakers, as well as offering voting rights in the KyberDAO, the network’s decentralised governance system. Users of the Kyber Network pay transaction fees in KNC.


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Kyber Network

Origin Protocol is an open-source platform built on the Ethereum network that enables the creation of peer-to-peer NFT marketplaces and e-commerce applications. Origin’s mission is to bring NFTs to a mainstream audience by allowing anyone with a smartphone and a crypto wallet to participate in the decentralised economy. 

Origin seeks to reduce the friction between both creators and consumers by removing the extortionate fees charged by centralised platforms. OGN token holders earn a share of the gains and fees generated by the marketplace, creating further incentives for network growth.

OGN is the token that powers the Origin platform and acts as the protocol’s governance token. OGN is used for rewards, commissions, payments, and staking on the network, while holders are able to vote in decisions affecting the rules, fees and strategic direction of the protocol.


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Origin Protocol

Biconomy is a cross-chain protocol that aims to simplify the usage and adoption of web3 and other decentralised apps (dApps) by improving transaction speeds, eliminating exorbitant gas fees and making dApps currency agnostic (i.e. users don’t need to switch networks or exchange for a specific ERC-20 token).

Biconomy does this through SDKs and APIs that let web3 developers access what they call a multi-chain relayer network that automatically routes and balances transactions in the most efficient way.

BICO is the native utility token of the Biconomy network, used for network fees and staking, as well as allowing holders to take part in decisions about the protocol and fee structures.


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Biconomy

Pax Dollar is a US-dollar pegged stablecoin built on the Ethereum network. At all times the value of a single USDP token is one US dollar, hence the term stablecoin.

For every USDP in existence, Paxos guarantees that there is one US dollar sitting in their reserves. USDP is, in essence, a tokenized dollar, permitting holders to make transactions on the crypto markets as if they were using actual US dollars.

Paxos is different from other stablecoins in that they also allow other companies to use USDP to create and brand their own stablecoins. For instance, Binance’s internal stablecoin BUSD is built on USDP.


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Pax Dollar

Maker (MKR) is the governance token that powers Maker DAO (decentralised autonomous organisation) – the protocol underpinning the DAI stablecoin.

In addition to granting holders the right to vote on changes to the DAI protocol, MKR is also used to pay transaction fees and as part of the DAI rebalancing process (i.e. the process that keeps the value of each DAI at US$1). New MKR is created when the value of the tokens stabilising the DAI goes up, and is destroyed when the value goes down.

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Maker

The Graph describes itself as “a protocol for organizing blockchain data and making it easily accessible”, a designation that has also led to it being called the Google of blockchain. 

Put simply, The Graph creates an open marketplace where information from different blockchains can be sold to developers who may require it to power their own smart contracts and blockchain protocols. It functions in a similar way to Chainlink (LINK), although Chainlink provides access to off-chain data rather than information already on the blockchain. 

The Graph Token (GRT) is the currency that powers this marketplace, offering incentives for those that index, curate and sell the data.


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The Graph

Orchid is creating a decentralised competitor to the $35 billion VPN market, offering users privacy services without the need to trust your data to a single company.

OXT is Orchid’s native token. Providers that wish to operate a node stake the OXT token to prove their bona fides on the network and increase their availability to users. Users use OXT to pay for bandwidth (which is based on how much data they actually consume), with the amount being distributed directly to the node operator.


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Orchid

Injective Protocol is a decentralised, cross-chain derivatives exchange built on the Ethereum network. It allows users to access, trade and create futures, options and other synthetic markets. 

Emerging as an IEO from Binance Launchpool, Injective is a so-called Layer 2 protocol, offering users a fast, efficient trading platform without the potentially crippling fees of transacting on Ethereum. 

The INJ token lets you trade and create new markets, as well as take part in protocol governance (i.e. voting on new listings and fee schedules). You earn INJ by staking, contributing to liquidity pools, hosting exchange nodes and trading profitably.


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Injective

Band Protocol is a cross-chain data “oracle” that is able to take real-world data and supply it to smart contracts and other on-chain applications (similar to Chainlink). 

Oracles were invented to overcome a basic issue with smart contracts: how do you verify that a condition has been met if that condition is dependent on data from outside the contract? e.g. the price of Bitcoin on a certain date. 

BAND tokens can be staked to help verify transactions on the network and are also used by smart contract developers to pay for the services of the network’s oracles.


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Band Protocol

Yearn.finance is a platform designed to let users take advantage of liquidity mining (what’s otherwise known as ‘yield farming’) protocols on a range of leading DeFi platforms, such as Uniswap, Sushiswap, Compound, Balancer and more. Yearn’s innovation was to enable automatic switching between pools to chase the highest yield, wherever that might appear.

YFI is the governance token of the Yearn.finance contract, enabling users to vote on changes to the protocol, new strategies and vaults and the composition of Yearn’s nine-member multi-sig board. YFI is distributed to users who provide liquidity to any of their products. 

Only 30,000 YFI tokens will ever be minted, hence the Bitcoin-esque price per unit.

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yearn.finance

Badger DAO (decentralised autonomous organisation) was launched in December 2020 with the aim of integrating Bitcoin more effectively with the DeFi economy.

While DeFi platforms already offer a Bitcoin equivalent known as Wrapped BTC (WBTC, available on CoinJar), the system usually requires centralised custodians to hold the users BTC while they engage with the DeFi ecosystem. 

BadgerDAO overcame this by creating an entirely decentralised BTC equivalent known as DIGG. DIGG uses an algorithm to maintain its peg to BTC, much like the way the stablecoin DAI maintains its peg to the US dollar. DIGG tokens can be deposited with BadgerDAO’s own vaults, which then deploy it across a variety of DeFi protocols in a similar way to YFI.

BADGER is the governance token of BadgerDAO. It allows holders to vote on changes to the BadgerDAO protocol and fee structures, and BADGER tokens are paid to developers and users of the platform.

Like Bitcoin, only 21 million BADGER tokens will ever exist.


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Badger DAO

Balancer (BAL) is an automated market maker (AMM) built on the Ethereum blockchain, similar to Uniswap and Curve. AMMs depend on token holders depositing their assets in “liquidity pools” that other traders draw on when they buy and sell assets.

Balancer is unique in that its liquidity pools “self-balance”. Users create pools of certain assets in certain ratios – say 80% ETH, 10% DAI and 10% WBTC – and start earning interest, while still guaranteeing that those ratios won’t be changed by unexpected market movements.

Users earn the BAL token by creating and maintaining liquidity pools. BAL tokens are governance tokens, meaning that they give holders the right to take part in decisions regarding the network. As these decisions often involve rewards and fees being generated by the Balancer protocol, there’s a financial incentive to hold and participate.


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Balancer

One of the first decentralised exchanges (DEXs), Bancor Network is a protocol running on both the Ethereum and EOS blockchains that makes it easy for users to swap one cryptocurrency for another.

Bancor uses fixed-fee, fixed-term liquidity pools denominated in BNT to ensure tokens can be traded at a fair price. You can also borrow against any tokens you’ve contributed to these pools. 

BNT is the native token of the Bancor Network. BNT is used to both pay transaction fees and participate in governance decisions through the Bancor DAO (decentralised autonomous organisation). Holders can also stake their tokens in liquidity pools to receive more BNT in return.


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Bancor

Wrapped BTC (WBTC) is an invention of the DeFi movement. Pegged to the same value as Bitcoin itself, WBTC is a way of representing Bitcoin ownership on the Ethereum network (i.e. you lock Bitcoin in a smart contract and receive an equivalent amount of WBTC in return).

Having WBTC means you can use the Bitcoin you own on DeFi apps, for instance to purchase tokens on Uniswap or as liquidity pool collateral on a platform like Compound or Balancer. 

By buying WBTC on an exchange like CoinJar, you’re bypassing the costly and complex “wrapping” process. While CoinJar can’t “unwrap” your WBTC for you, you’ll be able to convert it to regular BTC using the CoinJar app.

The Bitcoin underpinning this process is maintained by the WBTC DAO (decentralised autonomous organisation), a group of more than 30 companies and blockchains that includes some of the biggest players in the cryptocurrency space.


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Wrapped Bitcoin

0x – a reference to the first two characters in all Ethereum addresses – is a protocol built on top of the Ethereum network designed to make it easier for people to create decentralised exchanges (DEXs).

Rather than being a DEX itself, 0x provides the infrastructure for other actors (known as ‘relayers’) to build their own markets; think of it as the DEX equivalent of HTTP. They do this by offering networked liquidity, so that all markets operating on the 0x protocol can share the liquidity of a common pool of assets. Currently, 0x offers market functionality on Ethereum, Polygon/Matic and Binance Smart Chain.

ZRX is the native token of the 0x project. It’s used to pay for usage and transaction fees on the network, as well as offering holders the ability to vote on changes to the 0x protocol. ZRX is distributed to holders who improve market making by staking their tokens in specialised staking pools, as well as those who stake their tokens to verify transactions on the network.

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0x Token

PAX Gold (PAXG) is an ERC-20 token that lets you take fractional ownership of a real world gold bar.

Every PAXG token corresponds to one troy ounce (slightly heavier than a regular ounce) of gold bullion being held in secure vaults by Brink’s, an internationally recognised specialist in the storage and transfer of precious metals. The token provides ownership rights to the corresponding amount of gold and can be redeemed for actual gold bullion bars.

As PAXG represents gold itself, its value is tied to the real-time market value of physical gold.


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PAX Gold

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