Understanding the four major currencies of NGK
Recently, the NGK wallet has added another member, the SPC tokens. Currently, there are four major currencies on the NGK blockchain, namely USDN, NGK, BGV, and SPC. So, what are the similarities and differences among them? This article will provide you a throughout understanding.
USDN is a stablecoin on the NGK blockchain, similar to the stablecoin USDT. It is anchored to the U.S. dollar in the form of 1:1 and can be used for value reserve as well as the value exchange of all contracts on the blockchain. Besides, it can also be used for the promotion of the NGK blockchain, to purchase the block producer computing power and participate in the block producer mining. In addition, the USDN also plays a great role in the NGK blockchain, which can be used to solve the payment problems between Dapp merchants or enterprises and global users, as well as the circulation problems among various industries.
NGK is a token of the NGK blockchain, and it is the native token of the NGK mainnet. Similar to ETH, it plays an extremely important role in the development strategy of the NGK blockchain. Its main roles include using the incentive mechanism of the mainnet to jointly build the NGK blockchain ecology, and it is also used for the operation of the NGK platform as well as the establishment of the community, thereby further promoting the development of the platform and the growth of commercial applications. Now, the NGK tokens have been issued through STO equity. At the same time, when the NGK blockchain is implemented in the ecological industries such as entertainment, sports, new energy, and biotechnology, the NGK tokens will also be circulated in these ecological industries. This is conducive to the construction of a closed commercial loop of the ecological industry. With that, the NGK tokens have extremely high commercial value.
BGV is a governance token officially launched by the NGK. It is a dedicated token for Baccarat, the NGK blockchain DeFi project. It is similar to YFI and YFII, but unlike the two, YFI and YFII are based on Ethereum, while BGV is based on the NGK blockchain. The total issuance of BGV is 60,000 units, of which 10,000 units were used for airdrops, mainly to reward the ecological builders who participated in the Baccarat mining. It is an important part of the NGK blockchain’s DeFi ecological layout, and the Baccarat’s success is also inseparable from BGV, bringing many liquidity providers to Baccarat and playing an important position in the DeFi field. In addition, the BGV also has extremely high commercial value. It skyrocketed by 1,777.76 times on the second day after it was launched on the world’s leading exchange, becoming a legend in the crypto market. In the future, the value of BGV is still very high, stay tuned for its development!
SPC is a sidechain token recently launched by NGK, which is used to reward the NGK computing power holders. It is similar to the ERC20 token on Ethereum, but it is more resistant to forks than ERC20, and it has faster block generation speed. The total issuance of SPC issued is 100 million, of which 2 million units are used for airdrops. At present, the SPC airdrop has been launched, the holder of NGK computing power can receive the airdrop rewards. The more computing power you have, the more SPC airdrop rewards you will obtain. As the main body of SPC is the NGK blockchain, it has a wide range of people, which makes it higher end than BGV, and therefore more valuable than BGV. In the future, the SPC will be put on the secondary market. At that time, the value of SPC will rise further, becoming a high-fold currency!
The four major currencies of the NGK blockchain are briefly introduced above. I believe now you have a new understanding of each currency. Although the four major currencies have their own differences, they have one thing in common, which is they are all based on the bottom technology of the NGK blockchain. They are decentralized, they have strong anti-forking ability, fast block generation, and less congestion. Therefore, they are all important parts which are conducive to the expansion of the NGK blockchain ecological sector, as well as the further development of the NGK blockchain in the future market. In addition, they are tokens with great commercial value, and their future prospects are promising!