SmarterWorx Project Fresh On The Scene With Concept To Rival MakerDAO And BitDAO

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Decentralization is the new technology embedded in the blockchain network to free financial systems from centralization. Many DeFi projects have surfaced on the internet to entice investors to invest in the ecosystem. However, most of these projects need more utility and real-world applications. Projects like MakerDAO, a decentralized autonomous organization governing Maker and its smart contract stable coin DAI, have emerged in the space to offer market stability. Others like BitDAO have brought developers and builders into one arena to provide benefits in the virtual area. However, none of these two projects offers greater utility than SmarterWorx.

MarkerDAO is a decentralized ecosystem that currently powers the supply of stablecoin DAI. DAI is a stablecoin pegged to the US dollar in a ratio of 1:1. The stablecoin is a decentralized digital dollar renowned for its wide usage in the sense that anyone can use the token without any discrimination. The DAI is governed by a community of MKR token holders who directly manage the Maker protocol that issues the smart contracts governing the stablecoin. The stablecoin has risen to popularity, featured in over four hundred applications, including crypto wallet service providers like World Coin.

BitDAO, on the other hand, is a platform powered by blockchain technology that allows the development of products and services in the web3 ecology. BitDAO was launched in June 2021 by a Bybit crypto exchange based in Singapore. The firm received a lot of traction from the entire crypto community and, as a result, pulled large investments from institutions and sophisticated investors. Although