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Highlights
- Opulous (OPUL) is a decentralised peer-to-peer decentralised finance (DeFi) loan platform which provides artists a direct platform to secure funding without the need for traditional institutions such as banks.
- Being a first-ever DeFI offering by Ditto, the award-winning global music distribution and record label services company, OPUL will use Algorano blockchain to connect investors with artists needing a loan.
- The users can use smart contracts, which will automate monthly premium and earn profits in the process.
As Opulous (OPUL) cryptocurrency gears for its trading debut on leading exchanges across the world, market participants are shuffling across in anticipation on what it will bring across to the market. The build-up for its trading debut started on Wednesday itself when KuCoin one of leading cryptocurrency exchanges will start its trading on its platform from 12:00 pm UTC (BST 1:00 pm)
Opulous is a decentralised peer-to-peer decentralised finance (DeFi) loan platform, which provides artists a direct platform to secure funding without the need for traditional institutions such as banks. Being a first-ever DeFI offering by Ditto, the award-winning global music distribution and record label services company, OPUL will use Algorano blockchain to connect investors with artists needing a loan.
Also read: How Paypal’s new crypto payments app is unique
The users can use smart contracts, which will automate monthly premium and earn profits in the process. An open-source platform, Opulous gives a great option for investors who are looking to expand to next phase of their career.
What are the features of OPUL coin?
With the growth of NFTs, artist have found it a convenient medium to not only connect with their fans in a more tangible manner but also earn income in the process. Expected to work on the permissionless Proof-of-Stake protocol, artist can mint and sell their music copyright NFTs on Opulous platform. Besides, OPUL will also allow staking facilities to its holders and the investors stand a chance to earn song’s royalty earnings and exclusive reward points in exchange of social media support. Opulus on its Twitter handle promises association with other exchanges going forward.
Also read: Billionaire Coin (BLC): What’s the buzz around it
While most of the DeFi services operate on the Ethereum protocol, Opulous will operate on the Algorand protocol. Being one of the most advanced blockchain protocols, Algorand allows 84 million transactions a day with a transaction speed of 4.5 seconds.
Binance & KuCoin tie-up
KuCoin is expected to give the protocol the much-need push. Supported through the ERC20 network, the blockchain is initially priced at US $0.05 with a circulating supply of 23,956,000 OPUL coins. It will, however, allow the withdrawal from only September 25. Besides KuCoin, OPUL has also partnered with Binance to launch exclusive music NFT drops.
Conclusion
Opulous has already got the investors’ attention and they will be keenly watching the performance of the token in the coming years. The backing of Binance and KuCoin should express confidence in investors to invest and especially the artists should find this more than useful to earn extra income. Only time will tell what investment value will be, but for now, it has created the right buzz ahead of its launch.
