Calyx Network, the New Cryptocurrency, Worth the Investment?

Share This Post

The new cryptocurrency, Calyx Network, has become the talk of the town after its independent audit by Certik, a blockchain security startup that employs AI to monitor the protocols and smart contracts. 

Calyx Network promises to be a community-driven cryptocurrency protocol with the primary focus on liquidating the DApps (decentralized apps). Liquidity is termed the heart of a long-term DeFi application or a decentralized app in the crypto market. Calyx Network hopes to assist the unique tech ideas that hold the potential of changing the world but can’t reach fruition due to a lack of funds. 

Calyx, however, is a community-driven protocol and aims to allow liquidity from sources like decentralized exchanges (DEXs). CalyxSwap, a part of the Calyx Network, removes the need to trade tokens while exchanging the cryptocurrency. With CLX, users can efficiently conduct a single transaction to switch their tokens.

Calyx Network and its legitimacy

For everyone contemplating the legitimacy of the Calyx Network, it is a legal cryptocurrency. Given its audit by Certik, there is currently no reason to doubt if CLX is a legitimate project or not. Of course, investments in cryptocurrency come with several risks; investors need to take caution in pouring money into it. The Shiba Inu (SHIB) was labelled as a scam before becoming one of the biggest cryptocurrencies global-wide. The same goes for Calyx Network (CLX). 

Post analysis of the CLX, users will be able to access its smart contract and check around its legitimacy themselves. It is, therefore, not being termed as a rug pull at the moment. 

Calyx Network currently has an anonymous owner

While many people doubt the legitimacy of the CLX, some others want to know who is behind this token. The developers of the Calyx Network are choosing anonymity, similar to its other contemporaries like Bitcoin.

The total count of the Calyx Network tokens

As per a whitepaper released by the Calyx Network, the maximum token number for a CLX token is 500 million. Tokens that are not sold will be burnt. 

Should you invest in the Calyx Network token?

Anonymous cryptocurrency creators are, frankly, not a new thing and, therefore, not a bad sign when you consider the current market leader, Bitcoin. The Calyx Network whitepaper describes a thorough ambition and how they wish to help its users, which is why the project shines through. As of now, CLX holds promising potential, and it is a legitimate cryptocurrency. So, you can base your investment decisions on all those counts. 

Nitish Vaibhav
Nitish Vaibhav
Nitish Vaibhav is the Founder of the The Trading Bay. A computer science engineer turned an Entrepreneur 5 years ago. He has been in trading since 4 years in Forex and Crypto using his price action strategies. Involved in Content Creation full time for 3 years, Nitish is top rated writer on many content writing websites. He is also a YouTuber in India making videos about Crypto and Forex.

Related Posts

Top 5 Small Cap Stocks You Must Watch in 2023

While the world eagerly follows the trail of renowned...

Best Web 3.0 Crypto Coins to Invest in 2023

Web 3.0 is ushering in a new era of...

Crypto Tax Regime: A Guide to The Tax on Cryptocurrencies in 2023

Over the past few years, while cryptocurrencies have gained...

Top 7 Emerging Industries to Invest in For the Next 10 Years

Individuals who made strategic investments in some industries a...

What is Forex Algorithmic Trading: Basics and Strategies

Over the course of years, the forex trading industry...
Would love your thoughts, please comment.x