Can Immunicorn Disrupt a Market Dominated by Ether and BNB?
There exist over 1000 cryptocurrencies in the crypto market today. However, of this large number, only about 10% dominate the market and are more popular than the others. The dominant ones include Ethereum (ETH), Bitcoin (BTC), Tether (USDT), (XRP), USD Coin (USDC), Binance Coin (BNB), and Cardona (ADA).
These dominant ones have always been perceived as more critical and highly valuable; therefore, they are often at the forefront of conversations around cryptocurrency. Of course, this has its advantages and disadvantages.
One is that beginners looking to get into cryptocurrency often hear more about the dominant ones and get deterred from cryptocurrency generally when they are unable to afford them, unaware of other coins.
One of the other “non-dominating” tokens is a new token ready to be released into the crypto market soon –the IMU. The IMU from Immunicorn Finance is a token created to allow investors and newbies into the crypto world, with any investment capital, to easily borrow assets and ensure they are returned adequately and with ease.
One brilliant question would be why we keep having new tokens when there are several hundred in the market already. Why? Because the finance world is big, several problems come with trading online. There is also the need to make transactions better and more secure, hence, the need for immunicorn.
Immunocore’s goal is to facilitate the existence of a policy-controlled system, which allows the IMU token to be controlled at a high level by the Decentralised Autonomous Organisation ( DAO). In simple terms, a DAO is managed by community members rather than a central government. In this organization, decisions are made from the bottom-up and governed by a specific set of rules enforced by the blockchain.
Ethereum is one of the platforms currently dominating the crypto space. It is easy to build smart contracts and decentralized applications (dApps) without interference. It has a token known as Ether, launched in 2015 and closely follows Bitcoin as a capital coin. Today, it is used as a means of payment in various parts of the world.
Although a close comrade with Bitcoin, it is a competition as it holds the position of the second most popular digital token and second-largest cryptocurrency by market capitalization. Unlike Bitcoin, which was created as an alternative to national currencies to be used as a medium of exchange, ETH was designed to facilitate immutable, programmatic contracts and applications via a currency of its own.
Anyone can use the Ethereum platform to create digital technology as it was designed to be secure, decentralized, and programmable. Its features include a proof-of-stake protocol and a wallet that allows users to store Ether with private keys. While some coins limit the number that can enter circulation, the amount of ETH that can be created is unlimited.
Some of its advantages include the fact that it is accessible for everyone, doesn’t need a lot of details to carry out transactions, and aids peer-to-peer networking and transactions.
Disadvantageously, however, participants in transactions involving Ethereum have to pay high transaction fees (gas fees).
Binance Coin (BNB)
The Binance Coin is another popular and dominant cryptocurrency. It follows right behind Ethereum as a capital coin. It operates as a payment method for the fees associated with carrying out transactions on Binance Exchange, and it is the native coin of the Binance blockchain.
When starting out, the BNB was first hosted on the Ethereum network; however, it was soon moved to Binance’s blockchain – Binance chain.
One of the foundational reasons for creating the BNB was for it to serve as a utility token for discounted fees; however, it is used for a lot more today. BNB can be used to make payments on different platforms across different fields or sectors (entertainment, travel & tour, online services, and finance). It can also be used to invest via certain ICOs regulated through Binance’s Launchpad.
Its use case extends to other tokens as it can be used to purchase new tokens; hence, it has gained a lot of support across the continent for the various use case options. It has a partnership with other platforms worldwide to make this possible.
Some disadvantages of the Binance Coin include that it is centralized and has often been one of the primary targets of cyber attacks.
Now, to Immunicorn Finance. Immunicorn was derived from two words, “Immune” and “unicorn.” These two words were chosen for their meaning, immune—to resist or be protected, and unicorn—magical and rare. Therefore, immunicorn, from the name, is a testament to the fact that immunicorn will bring in a new order, and it’s nothing like what has been created before.
Immunicorn is a decentralized reserve currency for the BNB chain, built on the BNB Network.
How Well Will Immunicorn Compared to Ethereum (ETH) and Binance Coin (BNB)?
As mentioned earlier, immunicorn is trying to facilitate the existence of a policy-controlled system, which allows the IMU token to be controlled at a high level by the DAO. This way, it hopes to bring a new dynamic of well-thought-out economic and game theories into the blockchain market, using minting and staking.
Like most tokens supported by DAO, the price of immunicorn is supported by a reserve. Therefore, giving the holder assurance that the token’s value will not become too low gives experienced and newbie investors assurance and protection.
Additionally, because the Immunicorn is built on the BNB smart chain, it also gets some advantages that will boast its chances. For years, the BNB smart chain has performed well, delivering core infrastructures necessary for public adoption. No less can be expected from Immunicorn, which is making use of the chain. It can also utilize the advantage of its job fueling transactions on the BNB chain, which is almost similar to ETH.
There is also the advantage of security. BNB does not only have smart contract programmability, but it is also built on Solidity, a programming language known for maximum security.
The BNB chain choice will also allow users and community members of Immunicorn to have access to fast-paced transactions that will run large transactions from anywhere without fail and cheaper cost of a transaction that comes with lowered transaction fees.
The Immunicorn token, IMU, is also expected to have a total supply of about 50,000,000,000. It would be distributed at varying percentages during the presale, as a community fund, for marketing, IDO, reserve capital, and charity. This makes it easy for interested persons to buy in as early as the presale.
The community will control the platform, allowing access to different utilities such as staking, minting, and lending with immunicorn.
Finally, given a large number of DeFi protocols in the market, it is expected that Immunicorn will do well, creating a secure and sustainable platform for investors. Since the financial control lies with the community, things are only likely to get better with a well-planned innovative approach in the future.