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Dogecoin, FTX and HUH Exchange– Memes, Dreams, and the Supremes

IndustryTrends

Imagine a blockchain-based social network that combines the sharing and interaction that characterizes social networks with the decentralization of blockchain.

Imagine no more because this is what HUH offers to the crypto community and the world. This combination has the potential to increase crypto adoption. HUH will be the first blockchain software platform to have a social network built on it. This will be a potent tool to drive crypto adoption across the board.

Interestingly, HUH is not only a software platform. It will also try to power a decentralized exchange (DEX) to rival the best DEXs in crypto. A decentralized exchange (DEX) is an exchange where token holders can trade their tokens directly with each other without the presence of an intermediary.

Decentralized exchanges utilize liquidity pools to connect buyers and sellers. In a liquidity pool, the sellers lock their coins in the pool. This is the opposite of what happens on centralized exchanges like Binance and FTX, where a central authority referees the trade.

You can become a part of this revolution in the crypto space by purchasing the HUH token. The HUH token is the native and governance token of the HUH blockchain. Bonuses are available to those who buy the token now. In addition, you can use established cryptocurrencies like BTC and ETH to purchase them.

If you use ETH, you get a 10% bonus. With BTC, it is 12%; BNB, 15%; SOL, 18% and DOGE, 20%.

HUH Exchange (HUH) Is A Social Coin With A Difference, Unlike Dogecoin (DOGE)

Dogecoin is a simple peer-to-peer payment platform. It is the first meme coin. The creators capitalized on the Shiba Inu meme to create buzz.

It creates new blocks using a proof of work mechanism (PoW). The native currency of the Dogecoin community is DOGE. It has no supply cap, and about 5 billion DOGE is released annually.

Though Dogecoin is a meme coin, it is also used to pay for goods and services and to tip on the Twitter and Reddit crypto communities. However, this is the limit of its utility, unlike HUH. Although HUH is a social blockchain supported by the community, it still has many other use cases.

For example, HUH runs a DEX. It is also a software platform for all types of dApps.

FTX is a derivatives trading exchange established by Sam Bankman-Fried. It is a centralized cryptocurrency exchange with several trading options.

FTX exchange offers spot, futures, and leveraged tokens trading. It also offers an option known as MOVE, which predicts cryptocurrencies' positive or negative movement. So you have a chance to make a profit off the volatility of crypto assets.

FTT is the native token of the FTX ecosystem. It is a deflationary token. This means its supply reduces with time.

As a centralized exchange, FTX collects sensitive personal information from you when you want to open an account. This raises privacy concerns, especially for those not comfortable giving their knowledge to a public entity.

However, the situation is different when you want to use HUH's decentralized exchange. Then, you just need your wallet address, and you are good to go.

On FTX's exchange, the company acts as an intermediary between traders. As they also have your personal information, they know the identities of every trader. This is not the case in HUH's DEX, where each trader maintains their anonymity.

HUH is the first-of-its-kind social coin and exchange blockchain, and It will be interesting to see how it progresses. You can book a front seat view of the progress of HUH by purchasing the HUH token and joining the community. You even get the opportunity to pitch your ideas on how the project can improve.

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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.

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