Cardano and Polkadot Investors: Why Skyren DAO Should Be Your Next Move

Cardano (ADA) and Polkadot (DOT) have long been favored by crypto investors for their innovative ecosystems and continuous growth.

However, as the blockchain landscape evolves, savvy investors are constantly looking for the next big opportunity. On that note, Skyren DAO has emerged with a value proposition that positions it as the best next move.

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Cardano and PYUSD

Cardano recently integrated PayPal USD (PYUSD) into its ecosystem through a bridge developed by Wanchain. The integration opens up a range of possibilities for Cardano’s DeFi ecosystem. 

PayPal and crypto users with PYUSD can now bridge their assets to Cardano, making the ecosystem more appealing and potentially attracting more users. Lending protocols on Cardano can also adopt PYUSD to offer yield-earning options, expanding opportunities for investors. Additionally, traders benefit from the availability of another stablecoin, which enhances liquidity and provides greater flexibility for managing positions. 

Wanchain’s CEO, Temujin Louie, emphasized the importance of this integration in providing users with more autonomy and options when transferring assets between blockchains. With nearly $447 million locked in Cardano’s DeFi ecosystem, the addition of PYUSD could strengthen inter-network connectivity and promote further adoption of blockchain technology.

Polkadot price recovery on the horizon?

After peaking at $11.6 on December 4 following a five-wave impulsive rally, Polkadot (DOT) entered a complex W-X-Y-X-Z correction, forming a descending wedge pattern — often a bullish reversal signal. 

The Polkadot price has stabilized near $6, just below the 0.618 Fibonacci retracement level, after briefly dipping to $5.50. Encouragingly, the daily Relative Strength Index (RSI) has rebounded from oversold conditions, hinting at building bullish momentum. 

A decisive breakout above the wedge’s upper boundary would likely confirm the start of a new impulsive cycle, with $6.31 as a critical resistance level. Should Polkadot reclaim this level, the 0.5 Fibonacci retracement at $7.34 and the 0.382 level at $8.22 could act as mid-term resistance points, signaling a potential return to an upward trajectory.

What is Skyren?

Skyren is a groundbreaking DeFi platform on Polygon that aims to help blockchain projects and crypto enthusiasts through crypto airdrops.

The platform’s cutting-edge tech will sift through the entire blockchain system to find all ongoing and incoming airdrops. The platform’s research team will then conduct a comprehensive analysis to shortlist projects with potential. The shortlisted crypto projects will then be sent to the platform’s decentralized autonomous organization (DAO) for voting by SKYRN holders.

Selected airdrop campaigns requiring liquidity will be supplied via Skyren’s DAO treasury. This treasury will obtain funds from various sources, including the platform’s revenue, token tax, and proceeds from the presale event.

All SKYRN holders will be eligible for a portion of the rewards from these liquidity-necessitating airdrops. The allocation will be done through smart contracts and in ratio of the SKYRN tokens held, assuring fairness, security, and efficiency.

SKYRN holders will also gain access to the platform’s education center, where non-liquidity airdrop projects and their associated tasks will be clearly displayed. This center will also include step-by-step guidance on how to complete the tasks, with access to experts ready to help in any issues users might face.

The Skyren presale

The Skyren presale started with a bang on January 23. The presale aims to distribute 142,750,000 SKYEN tokens from the fixed supply of 190,000,000.

Phase 1 of the presale is selling SKYRN at $0.02, with prices expected to increase gradually as the presale progresses. Interestingly, all SKYRN tokens acquired through the presale will be automatically staked, providing early investors with additional weekly rewards.

Notably, Skyren has already captured the attention of crypto watchers, such as 2Bit Crypto. This suggests that the project is gaining traction and building momentum within the crypto community while still in its early stages.

Why Skyren DAO should be the next move

Cardano and Polkadot have seen major value increases because of their introduction of new technologies to support smart contracts and decentralized applications (dApps).

Skyren is a new pioneer, serving as an airdrop collection service. By connecting blockchain projects to crypto enthusiasts, the platform is expected to gain many users, investors, and partnerships. This is especially so when considering its low entry price. The possibility of increased adoption, coupled with the project’s low market capitalization could see Skyren’s value surge massively.

For more information on Skyren:

Website: https://skyren.io/

Telegram: https://t.me/SkyrenDAO

X: https://x.com/Skyren_Official

This publication is sponsored. CryptoDnes does not endorse and is not responsible for the content, accuracy, quality, advertising, products or other materials on this page. Readers should do their own research before taking any action related to cryptocurrencies. CryptoDnes shall not be liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with use of or reliance on any content, goods or services mentioned.

Alexander Stefanov