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Utility Coins And $Blid’s Bright Future

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Reading Time: 4 minutes

‘Which coin should I buy?’ is the question every crypto investor asks himself. That’s the million dollar question.

Well, as of July 2022, there were 20,268 cryptocurrencies in existence. That’s over twenty-two thousand coins to research and do your due diligence on.

That’s enough to make your head explode! Finding the time to do that level and depth of research is. quite frankly, impossible for most of us.

So, how do you decide which coin to buy and invest your hard-earned bucks in?

So, here’s a free tip for you: A cryptocurrency is only as good as its use, and the smart investment over the long term is in utility coins.

Oxford dictionary defines ‘utility’ as the ‘state of being useful, profitable, or beneficial.’ That pretty much sums up utility tokens like $Blid.

But what exactly is a utility token, and how can you profit from it? And more importantly, what is ‘Blid’, how can you profit from it and where can you buy it?

Read on to find out more!

UTILITY TOKENS EXPLAINED

A utility token is a specific type of token that helps in capitalizing or financing projects for startups, companies, or project development groups.

Most of the available cryptocurrency tokens fall under the utility token category. Utility tokens are a class of crypto coins that act as a store of value and give users access to a service or product in the blockchain ecosystem. They have many use cases: digital confirmation of ownership, method of payment in a given blockchain, method of reward or incentivizing specific activities, right to vote, and others.

Paddy Osborn, managing director of the London Academy of Trading, says it’s clear that crypto with utility offers far superior returns to coins with no intrinsic value or function.

“The challenge,” adds Osborn, “is to identify these hidden gems within this very complex and fast-moving industry before their price gets too expensive.”

The value of utility tokens can rise or fall depending on the demand for the project, and they can generate profits for the token holder if the project ends up reaching its intended purpose successfully.

WHAT IS $BLID?

$BLID is a government and utility token managing the Bolide Ecosystem.

$BLID token is Bolide’s native utility token and plays a pivotal role in the dynamics of the Bolide ecosystem. Currently, it serves as the system through which yield is distributed to customers – all yield generated by “Bolide Strategies” is paid out in $BLID tokens.

Beyond its yield utility, $BLID token holders will be able to actively participate and vote in governance DAO matters that directly affect the functioning of the Bolide ecosystem, as well as earn extra rewards for staking their tokens. Bolide is currently working on building the DAO and announcing proposals here https://snapshot.org/#/blid.eth  and on the Bolide forum https://forum.bolide.fi/.

WHY IS $BLID GROWING?

$Blid has grown 2.5 times since it was launched because the coin is a high yield aggregator utility token. Bolide’s strategy generates yield on lending and farming protocols, all of the yields exchange to $BLID token on DEXes and payback to users. We also have payback and burn mechanics based on tokenomics. Every month 80% of protocols’ income from its treasury wallet and 3% of fees from yield generated from users’ liquidity are burned.

The whole business model is built around the token and users bring liquidity in stable coins or BTC, ETH. Bolide’s working strategies buy tokens back from the market and pay profits to users in $BLID.

$BLID’S BRIGHT FUTURE

The future is bright for Bolide.fi and $Blid, listed on DEX with over 500k users. They are currently preparing to be listed on CEXes and the Bolide team is working on increasing $Blid’s utility functions by additional features, boosting yield on Bolide vaults for token holders only.

Here’s a quick list of their plans in the near future.

  • New $BLID vaults
  • New and improved conditions for staking and farming for $BLID holders – with higher APYs
  • Listing on CEX – Tier 1, Tier 2
  • New Seed round with venture funds
  • Launch Boosting 2.0 to improve tokenomics significantly
  • Update the app with a new UI with more information for the community
  • Improve APYs with circle strategy
  • Launch BNB Vault and Create Cross chain deposit to grow TVL
  • Increase the number of vaults and $BLID token holders via different activities

DEFI CRYPTOCURRENCY INVESTMENT OPPORTUNITIES

The easiest and possibly one of the most cost-effective and profitable ways to generate a passive income is through yield aggregators. The benefits of yield aggregators and farming are straightforward. If you already hold a cryptocurrency investment long-term, you may as well look to increase the return you can get on those holdings, and staking provides a low-risk way to generate extra returns.

With companies such as Bolide.fi, you can start with any amount and invest in a vast range of staking and farming options while choosing a risk strategy that best suits your risk appetite. Even better, there’s no lock-up period, and you can get APYs of up to 30%!

Here are some of the benefits of investing with Bolide:

  • A one-stop investment product with access to leading protocols
  • Automated, stablecoin investing produces maximum yields
  • Low risk, market-leading yields of up to 30% APY
  • Earn an extra 20% staking your $BLID tokens and enjoy 11% APY on farming
  • Start investing with any amount
  • Hands-off, automated investments using your stablecoins
  • No lock-up period access your funds and profits instantly
  • No withdrawal limitations

Starting your yield farming and staking journey is easy with platforms like Bolide. Simply visit Bolide.fi, connect your crypto wallet, deposit either $USDT / $USDC / $DAI / $BUSD, BTC or ETH and you’re good to go.

Start earning interest at the speed of light with Bolide today!

For more information on generating a passive income on your cryptocurrency investments, get in touch with us today.