Chainlink provides a vital service with decentralized Oracles, but also has many newer competitors. Everlodge is aiming to help people invest in property in a business model not yet seen before. Let's dive in.

Join the Everlodge presale and win a luxury holiday to the Maldives

Polygon has a lot of competitors in the Layer 2 sphere

When Polygon first entered the market, with its fraction-of-a-cent fees, the DeFi and NFT worlds were extremely impressed. With ridiculously high fees on Ethereum, Polygon - a Layer 2 solution built on Ethereum, offers the security of Ethereum with the scalability and low fees of a Layer 2. Because of this, many projects ported over to Polygon and its Zero Knowledge Proof system, including a wide number of NFT collections.

Since then however, more arguably sophisticated Layer 2 blockchains have emerged, including Optimistic solutions such as Arbitrum and Optimism. Similarly to Optimism’s OP stack, Polygon are now introducing a way for other chains to build on Polygon.

However as a lot of Polygon holders are currently underwater, this is likely to bring a lot of sell pressure for MATIC. It remains to be seen whether the new tech developments will bring more value to the chain.

Chainlink Faces Competition But Brings Innovation

As the first decentralized Oracle, chainlink has been instrumental in securing the prices of projects in DeFi, and helping to avoid price manipulation. Chainlink stands out as a dominant blockchain oracle with a market capitalization of over $1 billion.

It offers compatibility with various blockchain solutions, making it versatile for developers. Unique features include Chainlink Verified Random Function (VRF) for unpredictable outcomes and Chainlink Automation for efficient smart contract maintenance.

However since their launch, many new competitors have come into the field.

Band Protocol provide decentralized oracle solutions with a focus on tamper-proof data feeds. UMA excels in creating synthetic assets, bridging DeFi and traditional finance, while XYO Network specializes in location confirmation. Each competitor offers unique advantages, catering to different project requirements and use cases.

However recently LINK has been going from strength to strength due in part to the fact that Chainlink partnered with the DTCC in June for a SWIFT blockchain interoperability project, aiming to boost asset tokenization adoption.

LINK is currently up by 14% on the weekly and 11.6% on the monthly charts.

Everlodge is right on trend with RWA

As those who are following the trends in blockchain know, tokenization of Real World Assets are the next big thing. Chainlink’s twitter stated that “Tokenized real-world assets (RWAs) are just getting started, but the adoption rate is getting exponentially faster” in a post with a podcast by Chainlink’s Eid Johann.

And this is where Everlodge comes in. Everlodge, (ELDG) a new project that is currently in the 3rd stage of its presale, is all about the tokenization of RWA. In this case, vacation based real estate. In a model that they are calling the meeting of Airbnb with Web3, they are making it easy for anyone to invest in this lucrative market.

By tokenizing holiday properties using NFTs, and storing all the relevant legal info in the metadata, Everlodge will be able to offer people fractions of properties around the world. Holders will then gain rental income, but also will have the option to use their NFTs as collateral. Paired with their marketplace this makes a potentially illiquid market, very liquid.

ELDG is on sale at $0.018 though it's a matter of days before the price increases, having already risen by 80%. Forecasters are expecting the token to have a minimum launch price of $0.038, in line with the project's documents. From there a 30x is expected.

Find out more about the Everlodge (ELDG) Presale