How Calyx Token (CLX) and ApeCoin (APE) put the ‘community’ in crypto
In a continuously growing market, cryptocurrencies are becoming more and more prominent in society. A common factor that seems to be becoming a norm in blockchain networks is creating a crypto community. Calyx news…
This refers to an online group of crypto investors who can converse about what is going on in the crypto market. From a business perspective, it seems that blockchain organisations are using the crypto community model to convey the importance of investors by emphasising the impact that they could have on the blockchain’s future.
Many crypto projects already follow the principle of not allowing a person or institution to have full authority over the currency. This article will explore two cryptocurrencies that revolve around building a community: Calyx Token (CLX) and ApeCoin (APE)
The Permissionless Community – Calyx Token (CLX)
Calyx Token (CLX) is a new entry into the crypto market, beginning its first pre-sale phase on May 9 2022. They describe themselves as a community-driven protocol that permits multi-chain crypto exchanges and allows the facilitation of liquidity through several sources.
One of CLX’s main features is its ‘permissionless’ liquidity protocol – which allows anyone to become a liquidity provider by simply contributing an equal amount of underlying tokens in exchange for LP tokens.
This feature eliminates the problematic issue of having to go through extensive security checks that are required by centralised trading platforms such as banks. Additionally, users will not have to register to use swap – providing people with less hassle and easy accessibility to their finances.
Calyx also aims to reshape the crypto community model by introducing CalyxDAO whilst wanting to empower the community members with fair representation on productive agendas for the ecosystem while also maintaining the solidity and security of the Calyx Token (CLX).
The Ape Community – ApeCoin (APE)
ApeCoin (APE) has gained prominence in the crypto community through serving as a decentralised protocol layer for community-led initiatives that drive culture forward in the metaverse. They do this by incorporating a community board – a special council of the Ape Foundation that evaluates DAO plans and decides what the community’s future will be.
The currency also contributes to the crypto community by having the Bored Ape Yacht Club (BAYC) – a digital group where users are given Bored Ape non-fungible tokens (NFTs). These NFTs are distinct digital collectables that exist within the Ethereum (ETH) blockchain, giving investors access to exclusive perks. In addition, members of the Bored Ape Yacht Club can use a graffiti board to collaboratively create images.
Many notable celebrities have expressed their interest and support of ApeCoin by advertising their Bored Apes on social media. These high profile figures include Elon Musk, Justin Bieber, Neymar and most recently French Montana.
APE also advertise themselves to be a blockchain that is for the Web 3 economy, by contributing to the innovation of online culture in entertainment, art, events and gaming. Allowing innovation, creativity and exclusivity amongst investors gives ApeCoin (APE) a strong advantage in the crypto coin market – being a utility and meme coin that uniquely optimises the NFT marketplace.
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