Mountanaz(MNAZ) is establishing a multi-chain DeFi hub. Its ecosystem is reshaping the current methods for lending and borrowing, interests earned through "staking" and bridging across chains. With the latter being one of the most crucial to the project’s success.
Mountanaz is Looking to Freeze Out its Competitors
With its cross-chain compatibility with the Ethereum network, MNAZ could quickly become a heavy hitter in the DeFi space. Built on the Binance Smart Chain (BSC) it has the luxury of blisteringly fast transaction speeds at icy low prices. All this with the compatibility of the Ethereum Virtual Machine combines to make a deadly duo. Most likely due to its level of blockchain security, the Ethereum network has a TVL (Total Value Locked) of just over $700 billion. This means that there is $700 billion stored and staked in various ETH Decentralised Finance protocols earning passive rewards.
According to some, Ethereum has already won the DeFi war and other Layer 1 competitions will never amount to anything other than a secondary Network. Whether you are in this camp or not, the TVL of Ethereum and the BSC ($320 billion) combined are a force to be reckoned with. Mountanaz will reap the rewards of being associated with the 2 most popular blockchains in the world right now.
The Perfect Mix of Centralization and Decentralisation
Ethereum is well-known for its blockchain security and this is primarily due to the level of Decentralisation in its network. But unfortunately for ETH, this is why it has been ridiculed for its high transaction costs and speeds; this led to the poor scalability narrative surrounding Ethereum over the last few years. The BSC, as mentioned earlier, is quite the opposite, and MNAZ will certainly take advantage of the interoperability between the two frameworks.
Despite the Frost, ETH’s not Going Anywhere
Ethereum is the mother of all Layer 1 cryptocurrencies and king of altcoins. The aforementioned TVL speaks volumes about its longevity in this space and anyone who’s anyone in crypto knows it's here to stay, just like Bitcoin (BTC). ETH has gained an overwhelming 5400% since the coronavirus crash in March 2020; with such a high TVL Ethereum is unlikely to trade below the $2200 level as it has shown a huge amount of strength and support around this region throughout 2022. As of writing this article, the token is down below the $2000 mark, which makes it a very attractive price for a long term and stable investment.
The Humbling Roots of Ethereum (ETH)
Vitalik Buterin, co-founder and chief developer of the Ethereum blockchain shares where the foundation behind Ethereum came from.
“I happily played World of Warcraft during 2007-2010, but one day Blizzard removed the damage component from my beloved warlock’s Siphon Life spell. I cried myself to sleep, and on that day I realized what horrors centralized services can bring. I soon decided to quit” - Vitalik Buterin.
Anyone who knows Vitalik Buterin will not be at all surprised by the melodramatic nature of this quote. It illustrates Vitalik’s core reasoning behind the need for a decentralised world. While Ethereum certainly started off with Decentralised Finance in mind, it is capable of far more than simply DeFi. After Facebook’s rebranding under the name ‘Meta’, the metaverse has been a hot topic of contention.
Ethereum alone has taken some of the biggest names in the metaverse under its wing including the likes of Decentraland, the Sandbox and more recently the Bored Ape Yacht Club hosted by Ape coin.
It’s no secret that Ethereum initially struggled with interoperability. Due to its unparalleled success with Decentralisation and blockchain security, other projects, like Mountanaz, have swooped in to fix this issue by creating cross-chain and sharding functions, making the Ethereum blockchain more accessible and scalable. It is clear that all developers in the world of blockchain see a huge utility and future for ETH.
Both tokens are doubtlessly good investments, but hyper-growth for Ethereum is unfortunately over. To generate life-changing returns, MNAZ is a very real candidate. The dualism of the most popular decentralised and centralised blockchains makes Mountanaz a very real threat to any existing DeFi protocols. Don’t let this cool token slip between your fingers in Q3.