top 4 projects in polygon

Check this out. Polygon has been making headlines over the last couple of months. Plenty of well-known Web2 brands partnered up with them. But Iโ€™m about to show you something else.ย 

Get ready since here are 4 projects that have already been around for a few years. Some of them can potentially do a x50 in the next bull market. These are not big brand names, though. No, instead, these are the small gems on Polygon. Let’s get this rolling.

1) Aavegotchi (GHST)

Let me kick this off with Aavegotchi and its GHST token. They are big in blockchain gaming and NFTs. You can buy and grow Aavegotchis. So, it should be no surprise that these are NFTs. They come with different attributes and rarity.ย With Aavegotchi, a few of the crypto aspects meet. For example:

  • DeFi.
  • Blockchain gaming.
  • Staking.
  • Digital land ownership.

You may wonder why they have a token by the name of GHST. Well, Aave means ‘ghost’ in Finnish. Furthermore, look at the Aavegotchis, they are little ghosts. However, the Pixelcraft Studios from Singapore are behind this game. They launched in September 2020.

The game works like Tamagotchi. In other words, you need to spend time with your Aavegotchi. But not only that, you can also play mini-games or dress them up. However, what makes them unique is that you can use them as collateral. You deposit a supported cryptocurrency and that’s how you raise the value of your Gotchi. Now you earn interest, which can be in GHST.

So, once you stake GHST, you can earn REALM. These are tokens that represent digital landownership. In further news, they have a DEX coming on their platform. Also, the GHST token currently has a price of $1.08. The market cap is $46.5 million. So, from their max supply of almost 44.6 million tokens, well over 43 million already circulate. With y00ts NFT collection moving from Solana to Polygon, the Polygon NFTs might be ready to explode. Keep an eye out on this.

So, have you been playing with an Aavegotchi? I really like to hear, what you think about them and this project. And that brings us to the next project, Augur.

2) Augur (REP)

Augur is all about betting. They advertise themselves as.ย ‘Your global, no-limit betting platform’. This means, you put a bet on sports, the outcome of elections, or the weather. You name it, and they offer this on a global basis. They have already been around since 2018, that’s when they launched.

Now, recently, in Europe many laws about online betting have changed. This must have played well into the hands of Augur. To clarify, Augur works in kind of the same way as an AMM. So, instead of betting, you can also talk about a prediction market. In a nutshell, this is how it works:

  • Create a market:ย Set up a prediction and determine parameters like how you determine the outcome.
  • Market trading: Anybody can buy shares, with a fluctuating price.
  • Report: The Augur oracle brings the real-world data or information to the blockchain. If you lost the bet, your share goes to the winners, to share.
  • Settlement:ย Pay out to the winners.

Here you can see how Augur compares to competitors:

  • No limitsย 
  • Low fees
  • Global markets
  • Not for profit

The AUGUR token did really well. The whole market bled on the 10th of February, but AUGUR gained almost 17%. During the last 30 days, the token went up 86%. This token can well do 50x in the next bull run. Just like the next two projects. The market cap is at $78.5 million. All 7.8 million tokens already circulate.

Are you into betting? If so, have you used Augur before? Let’s move on to my next pick. That’s Idex.

3) Idex (IDEX)

Idex is an AMM with a twist. They are an AMM bit with an order book. So, we can call them a hybrid liquidity DEX.ย They combine centralized exchange features with DeFi. They offer self-custody, the DeFi trademark. However, they also offer fast swapping. This is because they have deep liquidity. They also have optimized match making, due to the order book.ย 

They already launched back in 2017. So, we’re dealing with some real DeFi OGs. Some of their claims to fame are, for example:

  • No failed transactions
  • No front running (getting in front of a transaction, so you get a better price)

However, in 2018 they introduced KYC (know your customer). So, that puts a little damper on the DeFi aspect, but they are still self-custodial. On Polygon, they use Layer 2 Optimistic Rollups. This gives faster and cheaper transactions. They are currently about to complete V4. It will include a next generation decentralized perpetual swaps exchange. For instance, this will have an upgraded UI, trade engine, API, and order book service.

Their IDEX token could well do a x50. Just like AUGUR or the following token. The current price is $0.056664, with a market cap of $39.8 million. From the max supply of 1 billion tokens, 706 million already circulate. OK, so, let’s move on to my last Polygon pick, Uma.

4) Uma (UMA)

Uma is an optimistic oracle. In other words, they bring real-world data onto the blockchain. They describe an optimistic oracle in an interesting way. To clarify, an optimistic oracle serves data to smart contracts. We use a “true unless disputed” escalation game. This oracle is worldwide available.ย 

It also resolves any disputes.ย For this, they use the Data Verification Mechanism (DVM). This is their dispute resolution system. But, as long as nobody disputes the information, it’s considered accurate.

So, instead of being ‘just another rigid oracle’, Uma makes sure that information is correct. When there’s imperfect information, people get involved. They get rewarded to verify the data’s accuracy. This human-powered data dispute makes them unique. They have mechanisms in place that helps to select who can take part in this dispute. This eliminates the potential for extreme views to get into the mix.1

So, just like the previous two tokens, Augur and Idex, the UMA token can do well in the next bull market. The current price is $2.09 with a market cap of $145 million. From a max supply of 112.7 million tokens, 69 million are in circulation.

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