When was the last time you saw a token do over 1000% in the middle of a bleeding market? Well I saw one yesterday, did not just see it, but I also own it. Automata ATA token was launched on Binance platform yesterday and the price spiked from 0.04$ to 4.9$ doing a 4000% when the market was down.
One of the very interesting things about Binance is the staking feature which allows users who stake Binance tokens on the platform receive newly listed tokens through the Binance launch pad program. The advantage is that users who stake are airdropped these tokens and get to own them before it begins trading in the open market.
I’ve had some BNB staked in the Binance platform for a while and I’d been getting the ATA airdrop, it began trading yesterday and I saw it go from 0 to 4.7 real quick, I didn’t have a lot so there was nothing exciting about selling it. I’m sure people who had a lot of BNB staked on the platform got relatively enough tokens to make bank. I didn’t sell mine, but my curiosity was piqued.
What is Automata? Automata Network is a decentralised service protocol that provides middleware-like traceless privacy services for dApps on Ethereum and Polkadot to achieve privacy, high assurance and frictionless computation.
I’ll probably spend the next couple of days going deep into understanding what this project does, I did take a glance, but I guess it wasn’t sufficient enough to grasp what the project entails. But there was mention of providing a host of services to Web 3.0 with a focus on privacy.....
.....There are a ton of definitions that describe what Web 3.0 entails, but in the broad sense of it, it is the transition from the mode of operation of Web 1.0 which offered users ability to read information from the web, into Web 2.0 which offered extended interactivity within the web. While Web 3.0 brings about ownership of data on the web, tokenization of web activities, Dapps and communities.
Now adding a whole layer of privacy into the mix does sound like an interesting turn of events, I’m yet to fully understand why or how this will play out but I’ll be keeping an eye on it.
What are your thoughts?