Orbeon Protocol (ORBN) has been making waves in the DeFi space with its innovative launchpad that allows retail investors to participate in the fast-growing venture capital sector. Orbeon Protocol has seen a significant surge in popularity and value over recent weeks, with its price increasing by 655%. This impressive growth has propelled ORBN ahead of rival Elrond (EGLD), which has recently rebranded as MultiversX after struggling with extremely poor performance.
Elrond (EGLD) forced to rebrand after extremely poor performance
Elrond (EGLD) is a blockchain-based platform that deploys DApps and customized use cases using Web3 technologies. Elrond (EGLD) is the platform's currency that holders can use for staking and other network transactions (EGLD).
Elrond decided to change its name to MultiversX due to its poor performance. MultiversX is introducing three new metaverse-forward products. The rebranding includes three new tools, xFabric, xPortal, and xWorlds, all of which aim to assist metaverse creators and users.
It is anticipated that Elrond's smart contract technology will support 15,000 transactions per second with a latency of six seconds and a transaction cost of $0.001. Like Ethereum, Elrond (EGLD) is a blockchain technology aiming to create a new internet economy through commercial use cases and decentralized applications (ETH).
Elrond (EGLD) is struggling, trading at approximately $46, a loss of more than 92% from its all-time high of $490 in November of last year. Elrond has lost 82% in the past year alone, demonstrating EGLD’s poor performance.
Orbeon Protocol (ORBN)
Orbeon Protocol is an innovative DeFi launchpad that enables retail investors to participate in crowdfunding and capitalize on early-stage opportunities. These opportunities are currently exclusive to venture capitalists, with millions of dollars and huge teams behind them.
By raising funds from a larger number of smaller investors, Orbeon Protocol enables entrepreneurs to access new funding sources. Instead of pursuing conventional finance methods, companies can sell fractionalized NFTs that, in return, represent equity in the project.
These equity-backed NFTs may be purchased for as little as $1, and investors are safeguarded from bad investments by a novel "Fill or Kill" mechanism integrated into smart contracts. This system refunds investors automatically if a startup falls short of its fundraising goals.
The price of ORBN has risen from $0.004 to $0.0302, and analysts predict it will rally 6000% during the presale. All ORBN holders are instantly eligible for perks, such as trading discounts, rebates, staking bonuses, voting rights, and access to exclusive investor clubs.
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