Business News/ Brand Stories / Is New Cryptocurrency Calyx Network (CLX) Worth Investing in?

Calyx Network (CLX) promises to be a community-driven cryptocurrency protocol. One of its primary focuses will be on the liquidity of DApps (decentralised apps). Liquidity is, of course, at the very heart of any successful DeFi application or decentralised app. Many projects have fantastic and unique ideas that could change the way we use or think about technology but cannot provide the funds to see their ideas through to fruition. Calyx Network (CLX) hopes to be able to assist with this.

As mentioned above, CLX is a community-driven protocol. It has been designed with the aim of allowing the trading and sourcing of liquidity from sources such as decentralised exchanges (DEXs). As part of the Calyx Network, CalyxSwap removes the need to resort to exchanges to trade their tokens. With CLX, a single transaction will be all that is required for users to switch their tokens.

Is Calyx Network (CLX) Legit?

Calyx Network (CLX) is a legitimate cryptocurrency. Given that it is being audited by Certik, there is no reason to suspect that CLX is anything other than a legitimate project with legitimate goals.

Any investment in cryptocurrency is inherently risky, such is the nature of the market. Caution should be taken when investing in any projects. Shiba Inu (SHIB) was labelled as a scam before becoming one of the biggest cryptocurrencies of all time.

It is very unlikely that Calyx Network (CLX) is a rug pull. Due to the unregulated nature of cryptocurrency, investments are always a risk. Once the analysis of Calyx Network (CLX) is complete, users will be able to access its decision on the legitimacy of its smart contract. It is highly unlikely that it will be likened to a rug pull.

Calyx Network (CLX) has taken out an independent audit by Certik, a blockchain security startup that uses artificial intelligence to monitor and secure blockchain protocols and smart contracts. Certik's objective is to secure the cyber world, and this assessment will definitely boost the confidence of future holders.

Anyone can examine the audit by searching for Calyx Network (CLX) on Certik's website.

Who is Behind Calyx Network?

While the majority of queries about Calyx Network (CLX) are easily answerable, the question as to who is behind the token is unknowable.

After perusing the whitepaper it is apparent that they are choosing anonymity. It's worth mentioning that several viable cryptocurrencies, including Bitcoin (BTC), have anonymous developers and teams.

What Is the Total Number of Calyx Network Tokens?

According to their white paper, the maximum token supply for the CLX token will be 500 million. Unsold CLX will be burnt.

Should I Invest?

Anonymous creators are not necessarily a bad sign, especially considering some of the market leaders’ pseudonymous inventors. The white paper for Calyx Network (CLX) is thorough and the ambition of the project shines through. CLX looks to be a promising (and importantly, a legitimate) cryptocurrency.


Disclaimer: This is a company press release. No HT journalist is involved in creation of this content.

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Updated: 31 Mar 2022, 07:17 PM IST
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