The year 2022 was one that will be remembered for hurting the trust that investors had in some crypto projects. The collapse of the Terra stablecoin and LUNA project was followed by the FTX exchange collapse and markets were rattled. Tron (TRX) has continued to feel the heat on its USDD stablecoin, while Solana (SOL) saw trouble with some of its applications. Investors looking for safety should play it more simply and Uwerx is a great opportunity to do so.
Tron (TRX) Foundation Moves to Shore Up USDD
Tron (TRX) has been under pressure following the collapse of Terra and FTX to try to prove stability in its USDD stablecoin. Tron (TRX) was bad timing to launch USDD only three weeks before Terra’s UST collapsed and lost its USD peg. Investor trust was shaken in stablecoins and Tron (TRX) is still fighting that fire in December 2022 with a capital infusion to protect its peg.
There are worries over the coin’s collateral as USDD claims an impressive collateral ratio of more than 200%. However, the most significant collateral underpinning this stablecoin at $725 million is from a TRX burning contract. Another $100 million is in Tron (TRX). One of the fallout from FTX was that its collateral was heavily weighted in its own FTT token and not diversified.
Solana (SOL) DApp Hack is the Latest Drama for the Project
Solana (SOL) saw another security breach recently with the Raydium decentralized exchange losing $2 million. Although it is not a huge sum, it is another exploit of the Solana (SOL) blockchain at a time when investor confidence is low in the network’s security. Solana (SOL) also saw a stablecoin problem when the Nirvana DeFi platform lost over 70% of its dollar peg in the NIRV token.
Solana (SOL) has been one of the most high-profile losers in the bear market with the token dropping from $170 to its current price of $11 and still looks bearish. Once confidence is lost in the security of a project or stablecoin, it is hard to win back the trust of investors – such is the case with Solana (SOL). Before we see a bounce in crypto projects, there is an option to make life easier with projects that do not have to prove big reserve collateral and do not have to host other projects or token bridges. Uwerx is one of those.
Uwerx (WERX) Can Provide Something Simple but Effective
Uwerx will allow investors to invest in a business that is more similar to a stock. The project is seeking to tap into the booming market for freelance workers and unseat the dominant players such as Upwork. Uwerx will enable this with a blockchain offering that can bring blockchain technologies to the market and make it fairer to workers with lower fees and other benefits.
Upwork made $500 million in revenues in 2021 which was up 35% year-over-year and the number of U.S. freelancers is expected to jump from 72 million in 2023 to 90 million in 2028. Uwerx has time to move in and land on that big runway and investors can take advantage.
The WERX token is currently in a presale stage at $0.005, but some analysts see a 6,000% price gain for the project. The team will also renounce contract ownership just before the project is listed on centralized Exchanges, the project has also successfully passed audits by both InterFi Network and SolidProof. The current ongoing presale includes a bonus of 25% for every acquisition of WERX tokens, follow the links below to find out more:.
Website: www.uwerx.network
Presale: invest.uwerx.network
Telegram: https://t.me/uwerx_network
Twitter: https://twitter.com/uwerx_network
