Cryptocurrency investor and analyst Tyler Swope announced three small-capital altcoins that he believes have the potential to provide a huge boost to their cryptocurrency portfolios.
In a new video, Swope introduced Sora Network (XOR), a project that runs in the Polkadot (DOT) ecosystem. The popular name, who made statements about Altcoin, used the following statements:
“So what can come from Sora Network? Well, Polkaswap is coming, Uniswap and beyond for the Polkadot ecosystem… So what exactly is Polkaswap? It will be a scalable cross-ecosystem exchange platform. You will be able to trade Kusama (KSM), Polkadot and Ethereum-based assets through Polkaswap interfaces. ”
The cryptocurrency commentator says that in addition to cross-chain interoperability, Sora Network is also leading the responsibility of developing the infrastructure needed to distribute central bank digital currencies (CBDCs). Swope emphasizes that Hyperledger Iroha is already strengthening Cambodia’s CBDC, which has the potential to facilitate millions of transactions in the future.
Second on Swope’s list is the DeFi Pulse Index (DPI), a market-valued weighted index that tracks the performance of various decentralized finance (DeFi) assets:
“So this set is basically a tokenized index fund that tracks and weighs itself against the best DeFi projects. The fund is fully transparent across token sets, including holdings with Uniswap (UNI), Aave (AAVE), yearn.finance (YFI) and more. And this token set has been on the rise lately. But DPI is just a set of tokens. A basket of altcoins. This is not actually a crypto money project. ”
Swope notes that DPI is only one of many incoming index funds. He also hopes that as the indices are ERC-20 tokens, they can be pledged as collateral or used to aggregate returns in DeFi ecosystems.
Third on the list of the crypto analyst is Index Cooperative (INDEX), which he says is the governance token that powers index funds. About this coin, Swope said, “They explain how INDEX works on their website. Index Coop creates and maintains the world’s best crypto index products. All index products are always fully collateralized. What about their first product? It is the DPI ”.