Blocto was recently introduced as a cross-chain crypto wallet. Its is working to build an entire ecosystem that connects blockchain applications (dApps), multiple crypto, NFT assets for both users and developers to easily get in touch with those platforms.
What is Blocto
Behind Blocto and Blocto token is Porto, the project that gathers investment and establishes Blocto’s premise.
Ultimately, Blocto provides an intuitive, user-friendly channel for everyone interested in blockchain to join and interact.
Even newcomers can enter and switch across different interconnected apps, that’s how Blocto tackles the pain points other current projects are facing.
The Blocto Wallet
Long story short, Blocto is the optimal solution with a simpler onboarding process, upgraded user experience, interoperable and scalable platform for cross-chain management, reasonably low fees.
In particular, any new members can sign up or sign in with just an active email address, plus the lower fee schemes help remove the entry barrier, making Blocto an ideal option that is open, faster to approach for the community.
On one hand, Blocto offers an ecosystem with inclusive links to major blockchains, such as Flow, Solana, BSC, Polygon, Avalanche, Ethereum, Tron Blockchain, and promisingly more in the future.
This enables an all-in-one experience where users simply log in Blocto to access different DApps and NFTs on multiple blockchains.
On the other hand, that cross-chain experience is even more simplified, as it comes with Blocto points that replaces the harshness of adopting and exchanging many native tokens.
Empowered by specifically designated smart contracts, Blocto points activate the connection to any blockchain supported by the ecosystem. Besides, crypto novices can use Blocto for crypto purchases with fiat currencies, giving them more convenient and safer entry options.
Blocto for Users
To take the best out of the community, Blocto aims at two main targets which are crypto enthusiasts and developers.
While it is quite normal to draw end-users (as a B2C model), developers bring in a new way to expand the user base.
So how is that possible?
Firstly, a number of dApps developers will be attracted through several investors and partners.
For example, Flow is one large partnering wallet with Blocto, which naturally results in the automatic integration with Blocto of a plenty of developers from Flow.
After integrating, those dApps are supported by Blocto and can be accessed by other Blocto users, while members of those projects also become new Blocto users.
Hence, this process can be considered a B2B2C, in which both Blocto and developers can benefit from shaking hands with each other.
Blocto token ($BLT)
Just like other blockchain projects, Blocto has launched their utility token $BLT, which is the key to trigger all activities inside the whole ecosystem, including value exchange, DAO governance, token staking and rewarding.
Besides the often-seen roles of a native token, $BLT comes with two typically new incentivization mechanisms, specially designed for staking V2.
They are Token Time Locker, a Curve finance’s veToken mechanism that gives higher incentives and more privileges to those who commit a longer crypto held period, and Declining emission vesting model, addressing early participants with more system privileges.
$BLT has equipped algorithms to encourage early adopters and long-term supporters.
Services and key benefits
Blocto has built up an all-in-one ecosystem where users just simply log in to tap on multiple different blockchains available.
Below is the list of what Blocto members are able to access.
- Blocto Wallet, which is the mobile app that opens the gate for everyone to join, Blocto Wallet fills in the gap between physical and crypto sides as it is also accessible from an easy, friendly web version. The app focuses to improve NFT users’ experience, allowing them to create, share and trade NFTs however they like.
- BloctoSwap, a cross-chain DEX interlinked with seven of the largest, widely used blockchains at the moment (Flow, Solana, BSC, Polygon, Avalanche, Ethereum and Tron Blockchain). The project team is working constantly to add more channels into the ecosystem, as well as upgrade the most seamless experience when interacting with different chains at once.
- BloctoBay, the Blocto’s open NFT marketplace active on Flow. A lot of exciting activities are taking place there, providing utterly optimized NFT trading experience, such as more tempting fee discount, launchpad, supporting tools for traders or exclusive index inclusion and so on.
- Blocto Launchpad, the first launchpad developed on Flow
- dApp mining, which is the core foundation of the whole Blocto ecosystem and $BLT tokenomics. It is meant to emphasize the activeness of the community, as the mining will distribute 25% of the total $BLT supply. In other words, active users and developers are recipients to get most of minted $BLT, which holds an essential role in both ecosystem / product value and governing actions. With mining, $BLT holders’ positions are reinforced and they will be elavated to take part in and contribute more actively.
- Governance, though Blocto DAO mechanism, $BLT holders are granted with voting right to join in polls and vote for major decisions of the ecosystem. Along with mining, governance gives main power to the community which is users and developers, to determine how they want Blocto to be in the future.
- Blocto SDK, a specific feature to support Web3 developers. With this function, developers will find it extremely easier to build a Web3 application at a lower cost and shorter time manner. It takes only 2 to 8 hours to integrate with Blocto ecosystem, compatible with all currently supported blockchains without any requirement of downloads.
More to come
In order to complete the blockchain ecosystem, Blocto team will continue working to add in more new features to ensure a comprehensive multi-dimentional user experience.
Here are some of the great features that are coming next:
- Blocto Balancer, a new-to-come cross-chain automated market maker (AMM) which allows users to exploit and gain transaction fees from their crypto portfolio deposits. This is a perfect advanced version of BloctoSwap, since Blocto Balancers provides pool upgrades with more power granted to users. Blocto Balancers removes the passive participation and allows $BLT holders to create their own pools and set up transaction fees and asset weightings as they wish to.
- Blocto Vault, a decentralized revenue-sharing pool, which automatically injects a part of the revenues generated from all sources of the ecosystem, including BloctoSwap, Blocto Balancer and the likes, then redistribute to $BLT holders who choose to burn their tokens to receive a portion in Blocto Vault. With this mechanism, the assets held in Blocto Vault are always diverse in different tokens to ensure the sustainability of the system without fearing any unfavorable movements of the market.
How to start with Blocto
Right now Blocto is available either on mobile application or web browser. It is easy to go to the App Store or Google Play Store, download the app and log in just with an email.
There are no pre-conditions and no upfront investments are required. And furthermore, early registers will be entitled with more privileges when joining staking V2 and other attractive rewards for interactions with the ecosystem.
Whether it is a new crypto fan, a passionate trader or a dApp developer, Blocto is surely a great destination to enjoy a streamlined cross-chain experience.
The post Blocto Review: A Cross Chain Wallet, DEX, NFT Marketplace & More appeared first on Blockonomi.
June 08, 2022 at 06:15AM https://blockonomi.com from Blockonomi https://ift.tt/Vd9ujzx
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