Tyler Swope Is Bullish On LINK, EWT and UBT Due To New Staking Mechanism
Tyler Swope, the host of Chico Crypto shared three ‘end-of-year’ altcoins that he believes will bring great yields for patient traders.
In a recent video, Swope shared with his YouTube channel Chico Crypto’s 304K subscribers that is looking into decentralized oracle network Chainlink (LINK), Energy Web Token (EWT) and Unibright (UBT), and opines that they will bring great rewards to their holders through a superior staking mechanism.
The three coins are different because they use (or will use) a new staking method based solely on real-life business performance instead of inflationary rewards, the analyst said.
“A new type of staking is coming, based on real-world business performance. No longer will speculation and inflation be the main driver of a stake, but the stake can be tied to metrics, performance, and the alignment of goals between entities in an industry ecosystem.”
Chainlink (LINK)
Staking crypto in return for interest or rewards, increases the supply of a cryptocurrency and leads to inflation. According to Swope, LINK has plans to change this by rewarding good node providers.
“The beauty of Chainlink staking, is the oracle nodes can crowdsource LINK tokens from the community for the collateral required by the agreements. This allows growth. Good service providers will be able to fulfill more service agreements for customers, as they can pull stake from the community, and share with the community the revenues aka service rewards.”
At the time of writing LINK is trading at $18.75, down 4% on a daily chart. LINK has not yet implemented the new staking method.
Energy Web Token (EWT)
The second digital asset on Swope’s list is Energy Web Token (EWT), the native cryptocurrency of the Energy Web Chain, a blockchain platform that aims to bring diversity to the energy sector by allowing developers to create decentralized applications (DApps).
According to the analyst, EWT, like LINK has a plan to combat inflation by only rewarding stakers are performing well.
Quoting EWT’s material, Swope reads out:
“Staking rewards on decentralized service-level agreements (dSLA) come from value created in the real world (as opposed to inflationary awards paid in newly minted tokens). dSLA rewards are only distributed only to high-performing providers and the patrons who support them.”
At the time of writing, EWT is trading at $10.30, down 4.8% on a daily chart. EWT has already implemented the new staking system.
Unibright (UBT)
The third digital asset that Swope says will bring real world value through a unique form of staking is UBT, the native utility token of Unibright.
Unibright offers enterprise-level blockchain solutions, integration platforms and an ecosystem centered around tokenized assets.
The analyst points out that UBT is the key in the Baseledger token model, a project that seeks to connect enterprise organizations to Ethereum.
“At the center of everything is the Unibright UBT token. Unibright token is the staking token, the payment token. It is the token of the Baseledger, whose goal is to connect the enterprise to the ETH mainnet.”
At the time of writing UBT is trading at $1.50 down 8.3% on a daily chart. According to Swope Unibright staking should happen within this month.
