VeChain (VET) is a versatile enterprise-grade L1 smart contract platform. VeChain began in 2015 as a private consoritium chain, working with a host of enterprises to explore applications of blockchain. VeChain would begin their transition to public blockchain in 2017 with the ERC-20 token VEN, before launching a mainnet of their own in 2018 using the ticker VET. VeChain aims to use distributed governance and Internet of Things (IoT) technologies to create an ecosystem which solves major data hurdles for multiple global industries from medical to energy, food & beverage to sustainability and SDG goals. By leveraging the power of trustless data, VeChain is building the digital backbone that will underpin the fourth industrial revolution, which demands real-time and trustless data sharing between many participants. The platform uses two tokens, VET and [VTHO](https://coinmarketcap.com/currencies/vethor-token/), to manage and create value based on its VeChainThor public blockchain. VET generates VTHO and acts as the store of value and value transfer medium. VTHO is used to pay for GAS costs, separating the need to expend VET when writing data. This has the additional benefit of ensuring costs of using the network can be kept stable by tweaking certain variables such as the amount of VTHO required to service a transaction, or by increasing the VTHO geneation rate. Such actions first require all-stakeholder community votes. VeChain has been able to demonstrate massively boosted efficiency, traceability and transparency across data trails, supply chains and within novel kinds of ecosystems, such as those in San Marino targeting UN SDGs, among others.

PEPE can be traded on [Uniswap (V2)](https://coinmarketcap.com/exchanges/uniswap-v2/), [Uniswap (V3)](https://coinmarketcap.com/exchanges/uniswap-v3/), [Binance](https://coinmarketcap.com/exchanges/binance/), [KuCoin](https://coinmarketcap.com/exchanges/kucoin/), [Huobi](https://coinmarketcap.com/exchanges/huobi/), [Gate.io](https://coinmarketcap.com/exchanges/gate-io/), [MEXC](https://coinmarketcap.com/exchanges/mexc/) and more. Want to keep track of PEPE prices in real-time? Download the [CMC mobile app](https://coinmarketcap.com/mobile/) to get live price updates.

PEPE is an [ERC-20](https://coinmarketcap.com/alexandria/glossary/erc-20) token on the [Ethereum](https://coinmarketcap.com/currencies/ethereum/) blockchain, which is secured by the Proof-of-Stake ([PoS](https://coinmarketcap.com/alexandria/glossary/proof-of-stake-pos)) consensus mechanism. Decentralized validators stake 32 ETH to process transactions and secure the network.

PEPE employs a redistribution system that rewards long-term stakers, offering them incentives to remain committed to the project. This approach encourages coin stability by rewarding users for holding the token rather than selling it quickly. Additionally, PEPE features a burning mechanism whereby a portion of the coins are permanently removed from circulation on a regular basis. This aims to maintain scarcity despite the coin's 420,690,000,000,000 maximum supply. Of the maximum supply, 93.1% were sent to the liquidity pool on [Uniswap](https://coinmarketcap.com/alexandria/article/how-to-use-uniswap), where LP tokens were burnt, and the deployer contract was sent to a null address. The remaining 6.9% is held in a multi-sig wallet, for future CEX listings, bridges and liquidity pools. Users can track the [PEPE/WETH pair](https://coinmarketcap.com/dexscan/ethereum/0xa43fe16908251ee70ef74718545e4fe6c5ccec9f) on CMC DexScan.

PEPE presents a unique offering within the meme coin market by building upon the legacy of Pepe the Frog, a character with a longstanding and controversial history. The project's dedication to honoring this character distinguishes it from other cryptocurrencies and strengthens its appeal within the crypto community.

As of now, the founders of PEPE remain anonymous, which is not uncommon in the cryptocurrency world. Although information about the team behind the project is scarce, they have successfully garnered attention using social media platforms such as Twitter to promote their meme coin and foster a community around the memecoin.

PEPE is a [deflationary](https://coinmarketcap.com/alexandria/glossary/deflation) [memecoin](https://coinmarketcap.com/alexandria/glossary/memecoin) launched on [Ethereum](https://coinmarketcap.com/currencies/ethereum/). The cryptocurrency was created as a tribute to the Pepe the Frog internet meme, created by Matt Furie, which gained popularity in the early 2000s. The project aims to capitalize on the popularity of meme coins, like [Shiba Inu](https://coinmarketcap.com/currencies/shiba-inu/) and [Dogecoin](https://coinmarketcap.com/currencies/dogecoin/), and strives to establish itself as one of the top meme-based cryptocurrencies. PEPE appeals to the cryptocurrency community by instituting a no-tax policy and being up-front about its lack of utility, keeping things pure and simple as a memecoin. In late April to May 2023, the explosive surge of PEPE caused its market cap to reach a high of $1.6 billion at one point, minting millionaires out of early holders and attracting a strong community of like-minded followers. It has induced what some may dub a "memecoin season," causing other memecoins — some launched within hours — to go on spectacular pumps and just as astounding dumps. It remains to be seen if PEPE and other memecoins will go on to new highs, although that is certainly the hope of many believers waiting for the coming BTC halving cycle praying for a Bull Run. The PEPE roadmap features three phases, where phase one includes listing on CoinMarketCap, and getting $PEPE trending on Twitter, while phase two includes listing on centralized exchanges (CEXs) and phase three includes “tier 1” exchange listings and what the team terms a “meme takeover.”

Maker token trading is available on such exchanges as: * [Binance](https://coinmarketcap.com/exchanges/binance/) * [OKEx](https://coinmarketcap.com/exchanges/okex/) * [Uniswap](https://coinmarketcap.com/exchanges/uniswap-v2/) * [Coinbase Pro](https://coinmarketcap.com/exchanges/coinbase-pro/)

MKR is an [ERC-20](https://coinmarketcap.com/alexandria/glossary/erc-20) token, meaning that it runs on and is secured by the Ethereum [blockchain](https://coinmarketcap.com/alexandria/glossary/blockchain). Ethereum, in turn, is secured by its Ethash [proof-of-work](https://coinmarketcap.com/alexandria/article/proof-of-work-vs-proof-of-stake) function.

The issuance and removal of MKR from the system is governed by a complex system of interdependent mechanisms designed to ensure that DAI is always fully collateralized by other cryptocurrency assets and its soft peg to the USD is maintained. There is no hard-coded limit on the total supply of MKR. DAI’s value is secured by collateral — other cryptocurrencies that are deposited by users when minting new DAI tokens and stored in so-called vaults — [smart contracts](https://coinmarketcap.com/alexandria/glossary/smart-contract) on the Ethereum blockchain. During price downswings, the value of crypto stored in the vault might become insufficient to fully collateralize the corresponding amount of DAI. In that case, the Maker Protocol automatically initiates the liquidation of the vault’s contents, the proceeds of which it uses to cover that vault’s obligations. If the amount of DAI generated during the liquidation is not enough, the Maker Protocol mints new MKR tokens to sell and cover the remaining sum, thereby increasing the total supply. However, in some cases, the amount of DAI made from the auctions exceeds the necessary limit to ensure full collateralizations — then, it is used by the Maker Protocol to buy back and burn MKR tokens, decreasing their total supply. Thus, the supply of MKR is a dynamic value that changes depending on market conditions and the overall health of the DAI ecosystem. As of October 2020, the circulating supply of Maker tokens is about 1 million, worth more than $500 million.

As of October 2020, DAI is one of the most popular stablecoins (cryptocurrencies whose prices are pegged to the USD or another traditional currency). It is the 25th largest cryptocurrency at over $800 million in market capitalization and it has more active addresses than USDT — the largest stablecoin on the market. MKR’s unique proposition lies in the fact that it allows its holders to directly participate in the process of governing DAI. Every holder of Maker tokens has the right to vote on a number of changes to the Maker Protocol, with their voting power depending on the size of their MKR stake. Some of the aspects of the protocol the holders can vote on are: * Adding new collateral asset types to the protocol, allowing users to submit new cryptocurrencies to mint more DAI; * Amend the risk parameters of existing collateral asset types; * Change the DAI Savings Rate: holders of DAI tokens can earn savings by locking them in a special contract, and the Savings Rate impacts the profitability of that contract; * Choose the oracles — entities whose goal is to supply trustworthy off-blockchain data to the Maker ecosystem; * Upgrades to the platform. This ability to participate in the management of one of the largest stablecoins on the market is what drives the demand for MKR tokens and correspondingly affects their value.

MakerDAO, the first entity inside the larger Maker ecosystem, was created in 2015 by Rune Christensen, an entrepreneur from Sealand, Denmark. Christensen graduated from Copenhagen University with a degree in biochemistry and studied international business at the Copenhagen Business School. Prior to MakerDAO, he co-founded and managed the Try China international recruiting company.

Maker (MKR) is the governance token of the MakerDAO and Maker Protocol — respectively a [decentralized organization](https://coinmarketcap.com/alexandria/glossary/decentralized-autonomous-organizations-dao) and a software platform, both based on the [Ethereum](https://coinmarketcap.com/currencies/ethereum/) blockchain — that allows users to issue and manage the DAI stablecoin. Initially conceived in 2015 and fully launched in December 2017, Maker is a project whose task is to operate DAI, a community-managed decentralized cryptocurrency with a stable value soft-pegged to the US dollar. MKR tokens act as a kind of voting share for the organization that manages DAI; while they do not pay dividends to their holders, they do give the holders voting rights over the development of Maker Protocol and are expected to appreciate in value in accordance with the success of DAI itself. The Maker ecosystem is one of the earliest projects on the decentralized finance ([DeFi](https://coinmarketcap.com/alexandria/article/what-is-decentralized-finance)) scene: the industry that seeks to build decentralized financial products on top of smart-contract-enabled blockchains, such as Ethereum.

At the time of writing, Kaspa is available on exchanges like [CoinEx](https://coinmarketcap.com/exchanges/coinex/), [MEXC](https://coinmarketcap.com/exchanges/mxc/), [TxBit](https://coinmarketcap.com/exchanges/txbit/) and [TradeOgre](https://coinmarketcap.com/exchanges/tradeogre/).

Kaspa network is secured by miners through Proof of Work and uses an algo known as k-Heavyhash. Heavyhash was chosen for forward-compatibility with Photonic miners when they became available.

There are around 8.5 billion KAS in circulation as of June 2022.

Kaspa is unique in its ability to support high block rates while maintaining the level of security offered by proof-of-work environments. Kaspa’s current main net operates at 1 block per second. Down the road, core developers and researchers will work on stretching the capability to the limits—think 10 or even 100 blocks per second. Kaspa also includes a unique monetary policy which decreases emissions geometrically over time based on the 12-note scale of music. Known as the chromatic phase - this policy activated May 7th 2022 with a block reward of 440 KAS. The block reward will be halved once per year, but smoothly: every month, the block reward is reduced by a factor of (1/2)^(1/12). This means that the ratio of block rewards in consecutive months is exactly the same as the ratio of frequencies of two consecutive semitones in a tempered chromatic scale. The initial block reward is the frequency of the note A4, and every averaged year is hence called an octave. Note that the policy dictates how many coins are minted per second regardless of the block rate. Should Kaspa change the block rate in the future, the reward will be adjusted accordingly to maintain the same emission rate.

Kaspa was envisioned by R&D company DAGLabs, through investment by PolyChain. Nonetheless, Kaspa is a community project, completely open source, no central governance, and no business model. The founder is Yonatan Sompolinsky, Postdoc CS at Harvard University on the MEV Research Team. Yonatan's 2013 paper on Ghost protocol is cited in the Ethereum Whitepaper. Kaspa core developers and contributors include Cryptography Doctoral student Shai Wyborski, CS Master Michael Sutton, Mike Zak CS Undergrad Studies, Cryptography researcher Elichai Turkel, and Developer Ori Newman - all of whom contributed immensely to the implementation and stabilization of the network.

Kaspa is a [proof-of-work](https://coinmarketcap.com/alexandria/glossary/proof-of-work-pow) (PoW) cryptocurrency which implements the GHOSTDAG protocol. Unlike traditional [blockchains](https://coinmarketcap.com/alexandria/glossary/blockchain), GHOSTDAG does not orphan [blocks](https://coinmarketcap.com/alexandria/glossary/block) created in parallel, rather allows them to coexist and orders them in consensus. The Kaspa blockchain is actually a blockDAG. This generalization of Nakamoto consensus allows for secure operation while maintaining very high block rates (currently one block per second, aiming for 10/sec, dreaming of 100/sec) and minuscule confirmation times dominated by internet latency. The Kaspa implementation includes a lot of cool features such as Reachability to query the DAG's topology, Block data pruning (with near-future plans for block header pruning), SPV proofs, and later subnetwork support which will make future implementation of layer 2 solutions much easier.

RUNE is a popular cryptocurrency that is available to purchase and trade on a large number of both centralized and decentralized exchange platforms. The most prominent of these are [Binance](https://coinmarketcap.com/exchanges/binance/) (centralized) and THORChain interfaces found at [THORSwap](https://docs.thorchain.org/ecosystem#exchanges-only) (decentralized). RUNE is most liquid on the THORChain AMM which can be accessed by any ecosystem interface. As of June 2022, the vast majority of RUNE trading pairs are crypto/crypto pairs. However, RUNE can be bought with Korean won (KRW) on ProBit Exchange and US dollars (USD) on Binance. For more on buying cryptocurrencies with fiat, see our [popular guide](https://coinmarketcap.com/how-to-buy-bitcoin/).

THORChain is built using the Cosmos SDK and is powered by the Tendermint consensus mechanism. This keeps the network safe from [attacks](https://coinmarketcap.com/alexandria/glossary/51-attack) through a novel [BFT](https://coinmarketcap.com/alexandria/glossary/byzantine-fault-tolerance-bft) proof-of-stake ([PoS](https://coinmarketcap.com/alexandria/article/proof-of-work-vs-proof-of-stake)) system that sees a large number of validators work together to propose and finalize blocks of transactions. Beyond this, THORChain’s [smart contracts](https://coinmarketcap.com/alexandria/glossary/smart-contract) have been audited by several third-party security firms, including one by Certik — which found no vulnerabilities.

As of June 2022, there are 308.0 million RUNE in circulation out of a total supply of 500 million. As we touched on earlier, THORChain initially launched following an [IDO](https://coinmarketcap.com/alexandria/glossary/initial-exchange-offering) on the Binance DEX. As part of the IDO, 20 million RUNE were sold. Prior to this, a total of 130 million RUNE were sold in earlier funding rounds. According to the official [Binance DEX proposal](https://community.binance.org/topic/357/proposal-to-list-thorchain-rune-on-binance-dex), 10% of the total supply (50 million tokens) was allocated to the team, and locked until the launch of the mainnet — unlocking at 20% per month thereafter. Much of this allocation was on-sold to raise further funds for the protocol. The team own less than 1% of all RUNE. As of July 2023, all RUNE is 100% vested and unlocked. ERC-20 and BEP-2 RUNE have been deprecated after a 2.5 year period to upgrade to native RUNE.

THORChain enables native asset settlement, allowing users to swap Bitcoin, Ether, Stablecoins, and other coins across 9 distinct blockchains. THORChain does not wrap or peg assets, instead it allows value to be exchanged from one coin on one blockchain to another coin on another chain. THORChain uses a unique system to help mitigate the issue of [“impermanent losses”](https://coinmarketcap.com/alexandria/glossary/impermanent-loss) — or the often temporary losses that a liquidity provider can experience when contributing to liquidity pools. It achieves this by using a slip-based fee to help ensure liquidity stays where it is needed. THORChain combines a range of novel technologies, including on-way state pegs, a state machine, the Bifröst Signer Module and a TSS protocol to seamlessly facilitate cross-chain token swaps permissionlessly. This is all kept behind the scenes, making the platform accessible to even inexperienced traders. The protocol isn't profit-oriented. All fees generated by the protocol go directly to the participants eg. node operators and liquidity providers, and there are no provisions for the team. Instead, the team is incentivized by simply holding RUNE — just like everyone else. THORChain enables [Streaming Swaps](https://medium.com/thorchain/introducing-streaming-swaps-eff37f6150f3) which allow large swaps to be broken up into many smaller swaps over time, which significantly reduces swap fees for users. Other than swaps, THORChain offers single-sided liquidity provision through [Savers](https://medium.com/thorchain/thorchain-savers-vaults-fc3f086b4057). Users can provide Layer 1 assets such as BTC and earn single-sided yield without impermanent loss. THORChain also hosts a flagship [Lending protocol](https://docs.thorchain.org/thorchain-finance/lending) where users can borrow against their native BTC or ETH and receive a USD-denominated debt in the asset of their choosing. The loans have no liquidations, no interest, and no expiration.

According to an official representative of THORChain, the platform has no CEO, no founder and no directors. Instead, the further development of the protocol is organized via Gitlab with nodes as the ultimate deciders of which codebase to run. Those currently working on the project are largely anonymous. Again, an official representative of THORChain states that this is to "protect the project and ensure that it can decentralize." A [tweet](https://twitter.com/thorchain_org/status/1198720787785453568?lang=en) by the project sheds some light on the theory behind maintaining a project with an anonymous team, as quoted below: “-> Developers work for the Nodes, by shipping code that makes the system more valuable. -> Nodes work for the, liquidity providers by securing assets and being online. -> Liquidity providers bring capital, placed on-market for the Swappers and arbitrageurs. -> Swappers and arbitrageurs pay fees, bringing economic activity.”

THORChain is a decentralized liquidity protocol that allows users to easily exchange cryptocurrency assets across a range of networks including Bitcoin and Ethereum without losing full custody of their assets in the process. With THORChain, users can simply swap one asset for another in a permissionless setting, without needing to rely on order books to source liquidity. Instead, market prices are maintained through the ratio of assets in a pool (see [automated market maker](https://coinmarketcap.com/alexandria/glossary/automated-market-maker-amm#:~:text=An%20automated%20market%20maker%20(AMM,operates%20in%20through%20automated%20trading.)). The native utility token of the THORChain platform is RUNE. This is used as the base currency in the THORChain ecosystem and is also used for platform governance and security as part of THORChain's Sybil resistance mechanisms — since [THORChain nodes](https://thorchain.network) must commit a minimum of 300k RUNE to participate in its rotating [consensus](https://coinmarketcap.com/alexandria/glossary/consensus) process. THORChain was funded through an initial DEX offering (IDO) which launched through the Binance [DEX](https://coinmarketcap.com/alexandria/glossary/decentralized-exchange-dex) in July 2019. Its single-chain chaosnet launched in April 2021, the multi-chain upgrade was launched in April 2021 and Mainnet is now live as of Jun 2022.. [Learn more here](https://academy.binance.com/en/learn-and-earn/course/BN736432188778586113)

Theta is a Layer 1 blockchain and decentralized infrastructure for Video, AI & Entertainment use cases. Theta is a "dual network" consisting of two complementary subsystems, the Theta Blockchain and the Theta Edge Network.Theta proof-of-stake blockchain provides payment, reward, staking and smart contract capabilities, while the Edge Network is responsible for the compute, storage and delivery of video streams, AI tasks, and other scientific, simulation and financial modeling use cases. There are two native cryptocurrencies on Theta blockchain: THETA, the staking and governance token, and TFUEL, used as gas for all transactions and on-chain smart contract interactions. The next-generation Edge Network, Theta EdgeCloud, is the first hybrid cloud computing platform built on a fully distributed architecture, set to launch later in 2024. Theta’s Web3 infrastructure enables media companies to drive incremental revenues, user engagement, and new Web3 business models. Theta Video API and Theta Web3 Theater are turn-key decentralized video API for developers offering significantly lower costs for video transcoding, storage, and content delivery, powered by patented Digital Rights Management technology. Theta blockchain also underpins the ThetaDrop NFT marketplace in partnership with Katy Perry, Samsung, Sony, American Idol, The Price is Right, Taste of Home, and other leading brands aiming to disrupt the digital collectibles industry. Theta Network’s enterprise validator and governance council is led by Google, Samsung, Sony, Creative Artists Agency (CAA), Binance, Blockchain Ventures, and other global leaders. Strategic corporate investors include Samsung NEXT, Sony Innovation Fund, Bertelsmann Digital Media Investments (BDMI), and CAA.. Theta is advised by Steve Chen, co-founder of YouTube, and Justin Kan, co-founder of Twitch.

Fantom’s FTM token is freely tradeable, and can be found on major exchanges such as Binance, Gate.io and OKEx Korea. FTM exists on several protocols, with ERC-20, BEP2 and Fantom’s own OPERA tokens all circulating. If you’re new to cryptocurrency and want to find out more about how to buy Bitcoin (BTC) or any other token, check out [this information](https://coinmarketcap.com/how-to-buy-bitcoin/) first.

Fantom uses a bespoke variety of proof-of-stake algorithm to provide services and secure its network. Known as Lachesis, it is an example of a so-called asynchronous byzantine fault tolerant (aBFT) consensus mechanism. By removing leadership among network participants, Fantom avoids low-cost attack risk, while staking adds further user incentives to secure operations using FTM token holdings.

FTM is a proof-of-stake (PoS) token which in fact exists in several incarnations. The platform’s compatibility with Ethereum means that users can purchase an [ERC-20](https://coinmarketcap.com/alexandria/glossary/erc-20) standard FTM, which is automatically converted to native FTM once received to their wallet. Another version of FTM is available on Binance Chain using its BEP2 standard. Only the native FTM can be used on the Fantom OPERA mainnet itself. The total supply of FTM is 3.175 billion tokens, of which 2,134,638,448 FTM is currently in circulation. The rest will be released subject to a schedule running through 2023. Staking forms an important part of tokenomics, with a proportion of the supply reserved specifically for staking rewards to users who hold FTM.

Fantom attempts to use a new scratch-built consensus mechanism to facilitate DeFi and related services on the basis of smart contracts. The mechanism, Lachesis, promises much higher capacity and two-second transaction finalization, along with improvements to security over traditional [proof-of-stake](https://coinmarketcap.com/alexandria/article/proof-of-work-vs-proof-of-stake) (PoS) algorithm-based platforms. Matching [Ethereum](https://coinmarketcap.com/currencies/ethereum/), the project appeals to developers looking to deploy decentralized solutions. According to its official literature, its mission is to “grant compatibility between all transaction bodies around the world.” Its in-house PoS token, FTM, forms the backbone of transactions, and allows fee collection and staking activities, along with the user rewards the latter represents. Through token sales in 2018, Fantom raised almost $40 million to fund development.