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The beauty of decentralized finance is its ability to innovate new ways to generate income for adventurous investors. Passive income has long been a buzzword within cryptocurrency, but what does it mean? And who possesses the highest passive income capacity?
Most projects will offer passive income options, including yield farming, staking and crypto referral. However, this article will introduce and compare the staking power of Solana (SOL) and Cosmos (ATOM) and discuss how the new meme coin Caged Beasts (BEASTS), will compete with established passive income approaches.
Don’t let the nickname “Ethereum Killer” put you off, as this high-performance blockchain network is all about profits and exceptional scalability potential. Solana boasts impressive transaction speeds, handling up to 65,000 transactions per second. The scalability positions Solana as an ideal platform for decentralized applications (dApps) that require fast and inexpensive transactions.
Regarding passive income, Solana offers various staking options to its users. It allows its community to actively participate in securing the network, earning a reward in the process. Solana utilizes a Proof of Stake (PoS) consensus, which allows participants to earn rewards between 5 to 10% for staking its native coin SOL.
Cosmos was once considered a very ambitious project and aimed to facilitate interoperability between different blockchain networks. By allowing developers to build their blocks through a modular architecture, the Cosmos Hub has become quite a success story.
Like Solana, Cosmos allows you to stake its native coin ATOM, allowing individuals to earn passive income through participating in the network’s consensus mechanism. Validators are selected based on their stake and earn staking rewards. The Cosmos annual staking reward is marginally better than Solana, ranging from 6% to 12%, depending on network participation and inflation rates.
Caged Beasts may be a new coin growing its community in presale. However, the team behind the project have already expressed a keen eye on how best to evolve a crypto project. We are going through a meme coin boom as investors want more character in their investment choices.
If you have yet to hear of Dr Rabbit Hyde, aka Rabit 4001, you better beware, as this scientist is creating mutated beasts and caging them to be released at the moment of devastating impact. You may think humankind is threatened, but investors will be pleased to know that this is only a metaphor and refers to ‘caged liquidity’.
What sets this new project apart from its established and presale counterparts is its plans to push forward passive income potential. Through its referral programme, investors can create a unique code to send to new BEASTS participants, helping to grow the community. If the new investor purchases BEASTS with this individual code, the code creator and the new community member will receive a 20% bonus!
Both Solana and Cosmos offer compelling opportunities for earning passive income through staking. While Solana emphasizes its transaction speed and scalability, Cosmos shines with its interoperability features. However, Caged Beasts have found a way to increase their community and reward participants simultaneously. Maybe these caged creatures are not all bad.
Check out the links below to find out More About Caged Beasts:
Disclaimer: This content is not a part of NFTgators’ editorial content and is not an investment advice. Do your due diligence before making any decision.