Back in the summer, decentralized finance went insane.
But the truth is,
is DeFi started way back even in 2019,
but a lot of people just weren't aware of it.
Now, in my opinion, we're seeing something bubble up in the world of crypto
that's got that same similar feel.
And I think it is the Polkadot ecosystem.
IPOs or initial parachain offerings are blowing up, and they're only going to get bigger.
Today, I'm joined by Claudio from the KryptosChain channel,
an expert on Polkadot,
and he's going to give us three coins in the Polkadot ecosystem
that are ready to explode.
Let's get it!
BitSwap is the hottest new way to trade tokens.
Crawling all the top decentralized exchanges,
BitSwap gets you the very best price and value for your trades.
BitSwap is changing the game.
Try it now at bitswapdex.io.
Alright, everybody. I'm joined by Claudio from KryptosChain.
You guys make sure, the information will be down below in the video description, to go subscribe to his channel.
Claudio and I have known each other for a long time since 2018,
and we've been talking and one thing has become clear.
This guy knows his Polkadot,
so I can't wait to talk to you guys about what he sees happening in the near future
with some of the coins that are in the Polkadot ecosystem,
but first and foremost,
Claudio, welcome to the channel!
Thank you very much for having me, Ben.
I'm glad to be here especially on the No. 1 crypto YouTuber.
And I believe you're going to be the No. 1 LBRY content creator too.
- Oh, wow. - I mean, your channel has been doing really well there too,
so thank you.
Yeah, we're in full support of LBRY.
That's where we post our content automatically every day from YouTube.
It's a decentralized source, so you guys make sure to check out LBRY. Big fans of them.
- So-- - Yeah, I'm also on LBRY as well,
so do check me out. I'm also there with the-- @kryptoschain,
exactly the same tag as I've got on YouTube.
Yeah, and it's KryptosChain with a "K",
- just so everybody knows. - With a K.
So, but the link will be down below.
And we also did an interview on his channel
that you guys can go check out when you hit that subscribe button on KryptosChain.
So let's talk Polkadot.
There's some interesting stuff.
We've been talking about Polkadot and coins on Polkadot.
I've been covering Polkadot on my channel recently.
And you've kind of discovered a lot of very interesting stuff going on that ecosystem
that could lead to some big gains for people down the road potentially.
And I want to hear what you have found out about Polkadot.
Yeah. So Polkadot is a huge interoperability system, so quite similar to Cardano in a way,
but we do know that Cardano is taking a long time before we're seeing all these different updates,
whereas Polkadot is live.
However, there are a lot of platforms building on Polkadot, but they're not live yet,
so it's still in its infancy, you could call it.
So hence why we've got these upcoming parachain auctions which are very, very important
and which are basically like token sales in a way,
except instead of actually losing your coins, you lock them up for a certain period of time,
and then you get them back,
but you also get rewarded with the "parachain tokens", you could call them,
so you're basically helping a parachain, which is kind of known as a sidechain,
bond to Polkadot's relay chain,
and then once you do that, you get rewarded with their token.
So that's actually really-- like the concept of Polkadot is really interesting,
but aside from the parachains,
they're actually helping interoperability with the native blockchains that we know,
such as Ethereum, such as NEO, Ontology,
also Cardano,
so their idea is to bring everyone together, not to be the killer of any project.
I know some people are saying that Polkadot are known as the Ethereum killer
simply because Gavin Wood is a co-founder of Ethereum,
but it's not the case.
I see them more as an interoperability trying to also help Ethereum grow in a way,
and then Ethereum is also going to help Polkadot grow
because they will be able to swap that information in and out between the chains.
Yeah, I think it's really interesting.
We've definitely discussed here on the channel before
about how the competition between Polkadot, Ethereum, Cardano, Elrond, Tezos,
all of these-- Cosmos as well,
- it's good for everybody. - Yeah.
It's good for cryptocurrency as a whole, and it pushes these projects much further.
But speaking of these parachains,
they have what they call, like you said, the IPOs, the initial parachain offerings,
and there have been some really interesting developments with some of these coins
that are built into the Polkadot ecosystem.
Three of them specifically that have a lot, a lot, a lot of potential in it,
and I want you to kind of break those three coins down,
how they all work together and the opportunity that they present for investors.
Absolutely. So I'm going to kick it off with Kusama.
Kusama is very, very important simply because it's-- you could think of it like the sister network of Polkadot.
It's basically a whole ecosystem just like Polkadot where parachains could be deployed too.
However, it is considered the experimental network or the test network of Polkadot.
Now, eventually, it's going to grow up into its own ecosystem separately from Polkadot,
and it will even connect to Polkadot at some point.
That's Gavin Wood's vision.
And then all the different DOTs on Kusama will be able to be interoperable with the ones on Polkadot.
Now, what's interesting about Kusama is that they've got their IPO starting very, very soon.
It's either due this month or next month.
Their roadmap is saying that they should be able to launch those by the end of Q1 of this year,
but as you know, with technical problems, anything is possible.
There could be delays.
But we're very excited with those and I'm sure you will be too,
and you're probably-- if you're watching this and you know about Polkadot and Kusama,
and you're expecting to take part in those IPOs.
Yeah, definitely. And I think that when you look back at what happened with DeFi over the summer,
what people saw is that if you go back to early in 2019,
there were some YouTube-- or in 2020, excuse me,
that were talking about DeFi and were talking about how it was going to be the next big thing,
and people didn't really buy into it at that time.
People didn't buy in until, you know, late in the spring
when it became very obvious that DeFi was blowing up,
and I'll be honest with you, I was guilty.
I was one of those people that didn't really see all of the things that were being formed with DeFi
that would result in explosions down the road.
Yeah.
And I think, right now, I'm seeing something very similar with Polkadot.
I'm seeing, right now, very few YouTubers, like yourself,
are going into and talking about these upcoming projects and the potential that they have,
but I'm seeing kind of the same things that a lot of these are going to be big movers.
And I actually have some information on some projects on Polkadot
that I've been invited to invest in, do some different things on.
I know this ecosystem is about to explode.
And I really encourage people not to let this opportunity, you know, pass you by the same way
that it passed a lot of people by in the beginning of DeFi.
What do you think about that? What are your thoughts, Claudio?
No, absolutely. I totally agree with that.
And now that you've mentioned DeFi, we could actually talk about the next project,
- Absolutely. - which is called Acala Network,
which are going to launch on Kusama as a sister network called Karura.
So Karura is going to be the experimental network of Acala which are going to be on both,
but except Karura are going to be on Kusama.
So think of it as all the different tests, all the different updates,
all the different features are going to be on Karura.
They're going to test them out. If they notice that anything doesn't work well,
they're not going to push those to Acala when it comes to that, right?
So that's where their whole idea is coming from.
Now, they will be having an IPO,
which means you're going to be able to get those tokens that are going to be called KAR tokens,
- Karura tokens. - Yeah.
And what's interesting is that you could use those for say trading, for say using as collateral,
you could use swaps.
Now, they're also going to have a platform called Laminar,
which is going to be connected to Acala and Karura,
where you're going to be able to leverage trade--
again, not financial advice here, but, you know, you have to be careful--
leverage trade using your wallet directly.
So that's quite interesting because it's going to be like a decentralized leverage trading exchange.
- Wow! I mean, - Yeah.
on this channel, we love leverage trading.
I know a lot of people, you know, have gotten wrecked over the years.
A lot of people made a lot of money.
We've been using an indicator called Market Cipher, and we've been crushing it trading the last month.
And it's been really exciting.
But, you know, that coming to Polkadot is definitely pretty interesting.
It's, you know, it sounds like kind of like MetaMask trading with Uniswap,
- which you'll be able to do leverage trading. - Absolutely.
And obviously, everybody, you know, leverage trading is not for the faint of heart
and it's not for somebody brand new to the space for sure,
so definitely make sure you know what you're doing before you get into that kind of thing.
But what I--
what I also have discussed with you is that we talked a little bit ago,
there's also another project that's kind of in the background
that kind of makes use of both of these other projects,
Kusama and Acala Network,
and that's A-C-A-L-A for people that want to know how to spell Acala Network, to look it up.
But what's this other coin?
And tell us what it's got going on.
Sure. It's called the ChainX.
And it's actually a bridge which is going to bring Bitcoin over from Bitcoin's blockchain to Polkadot.
You need to have a token on Polkadot, and not only on Polkadot, but also on Kusama
- because as I was explaining earlier, you need to have the sister networks working together, right? -Right.
Now, it's going to be called xBTC.
So that token will be tradable within the Polkadot ecosystem,
but the big point here about xBTC is that you could actually use that as collateral on Acala's dApp,
which is going to be the DeFi platform, in order to take a crypto loan.
- Wow. - So that's awesome.
And aside from that, there will be other platforms within the Polkadot ecosystem
that would be making use of xBTC within their own framework or within their own dApps.
So I think that the bridge between Polkadot and Bitcoin is going to be important, right?
And-- and they're going to start off as a bridge between Bitcoin and Polkadot,
but then they're looking at other assets too, like ZCash, Cardano, Ethereum,
so eventually they're going to expand.
Now, the big thing with them at the moment is that they are tradable.
Again, not financial advice. Do your own research on them.
They are tradable on exchanges, but the return on your investment if you do decide to stake
is 42% right now
- Wow! - until the halving,
which is going to take place at the end of May.
Because at the moment, we're generating 50 PCX, that's the name of the token, the ticker symbol, per block.
It's going to get halved to 25 PCX, so it's following the exact same model as Bitcoin.
Now, the-- the genius behind this project actually wrote the Polkadot whitepaper in Chinese.
And he's been part of the Web3 Foundation.
He's been assisting the Web3 Foundation.
He's been assisting Gavin Wood with Polkadot, with development in the past,
so he's got strong links to Polkadot,
so you could assume that or speculate that there's going to be a lot of support
going forward for this project once they launch their parachain.
Now, the other big thing that I need to talk to you about in relation to this project is as I was saying,
- everything needs to go through Kusama first, right? - Yeah.
These guys are going to have another project, the sister network called SherpaX,
which is going to be deployed to Kusama as an IPO,
and they're going to airdrop PCX holders on a one-to-one ratio.
If you hold PCX, you're going to get KSX.
- So that's awesome. You get free-- free tokens and - Yeah.
who knows how much they're going to be worth, right?
Now, MXC Exchange, which has listed PCX at the moment, is supporting this airdrop,
so they'll definitely list KSX.
That's very interesting.
And when you're talking about xBTC, I believe we covered xBTC on this channel over the summer,
it's very interesting to see the use case of that kind of coming to light.
Yeah, I think that all of these projects you mentioned have tremendous potential.
And I would really encourage people,
when you get in this area of crypto where you're hearing things
that seem a little out of your element, that seem like, you know, they're not in the mainstream,
just remember that's when they're in their biggest opportunity,
and so Kusama, Acala Network and I say--
- you said PCX is the ticker? - ChainX.
- ChainX. Yeah. / - ChainX. Yeah.
All three of these coins, I believe, I-- I've listened to you. We talked about this--
You know, we actually recorded this interview yesterday,
and I hit-- I forgot to hit record, and so we're doing it a second time,
so this time, I'm coming in armed with a little more information.
And after hearing everything we talked about yesterday, today, we--
I think we did a great job wrapping it up with a nice little bow
what these three projects are and their potential.
And I'm looking at them.
Personally, for investments,
I've been looking at these projects over the last day because I think there is a lot of potential,
and I don't want to get left out in the beginnings of the Polkadot explosion the same way
that I did with DeFi early last year before I got in over the summer or late spring.
So, Claudio, thank you so much for joining us today, dropping this information.
If you guys want to know more about Polkadot,
if you watched our Polkadot videos,
you'll definitely enjoy KryptosChain's videos on Polkadot and the ecosystem.
He knows way more about it than I do, so if you love Polkadot,
make sure you head on over and hit subscribe to his channel.
We'll have the link down in the description.
- Claudio, thanks for joining us today. - Thank you very much for having me.
And thank you for watching this video. It's very much appreciated.
Have a good day.
Alright. You guys, everybody, that's all I got.
Be blessed.
BitBoy out.