Clover Finance is a very young project that is still quite unknown to most people. Still, it has already shown the crypto world what it is capable of, having already reached an all-time high (ATH) the day after launch. Don’t worry, because this doesn’t mean you’re too late to join this project.
Before you decide to buy CLV tokens, it is important to learn more about this project. That is why in this article we are going to tell you everything about Clover Finance and how it works. Of course we will also tell you where is the best place to buy CLV tokens. But first, watch a video about Clover Finance below.
What is Clover Finance (CLV)?
The Clover project, backed by the CLV token, plans to solve the cryptocurrency wallet issues. How? By proposing solutions for different blockchains and a kind of wallet for players in the world of DeFi (Decentralized Finance).
Above all, the project brings an interesting bridge between the Ethereum and Polkadot blockchains. Clover addresses on Ethereum and those on Polkadot are thus linked together by a unique bi-directional peg bridge technology. Clover looks promising for developers of DeFi projects. Developers of Ethereum projects, for example, will be able to easily migrate their contracts to Polkadot.
In short, the Clover project could be described as a blockchain technology that serves blockchains. The project would therefore be classified as a “tool project” of the cryptosphere.
The CLV Token
Unfortunately, there is not much to say about the token yet, partly because it is not yet available on crypto exchanges for a long time. Still, the price has done a lot since its launch, as you can see on websites like CoinMarketcap.
On July 17, the day after launch, CLV reached its all-time high (ATH) with a token trading at $1.81. On the day of its launch, the token hit its all-time low at $0.36. At the time of writing, September 2021, the CLV token is worth $1.29. So we can say that at the moment it is still traded for a fairly cheap price.
In terms of market capitalization, the Clover project is entrenched in the top 300 largest projects. With a total market capitalization of more than 165 million euros. Currently, there are over 128 million CLV tokens in circulation for a protocol that will have a maximum of 1 billion. The total circulation is therefore quite high, although we see this very often with tokens nowadays. This also makes it not ‘weird’.
How does Clover Finance work?
Clover Finance is therefore a blockchain operating system that ensures that blockchains can work together better. It does this by providing a one-stop that can be easily used within the blockchain world. The framework can also work together with Ethereum Virtual Machines (EVM). The advantage? Almost every project nowadays uses Ethereum.
Because more and more people are active in the blockchain and crypto world, there are also more and more developers who are going to develop applications for this. So Clover Finance wants to do something with this, so that it resembles the Substrate parachain from Polkadot. This parachain also aims to improve cooperation between different blockchains. Why? Because the team behind Polkadot believes that we are better off when blockchains work together rather than against each other.
The mainnet has not been in use for long, as it was only launched in July 2021. This was also the time when users could buy CLV tokens. This realization was done quite quickly, as the project was only established in May 2020.
The project is designed to provide more than a single service to users. Instead, it is built as a blockchain operating system. The network contains a storage layer, a smart contract layer, a DeFi protocol layer and an eApp layer. Because of this it will be possible to perform different applications with this project.
The Clover network provides a full-service cross-chain decentralized finance (DeFi) bridge. It provides a flawless portal for everyone, including beginners in the world of DeFi. Clover not only allows developers to easily create and use DeFi, they can also create decentralized applications (DApps) that work across blockchains.
Normally it is quite difficult for developers to run their applications. Clover Finance wants to solve this through their eApp layer. It allows developers to run their eApps on the blockchain without too much effort. That means they don’t need to use virtual machines or network bandwidth. It may not mean much to you, but this is something that many developers are very happy about.
Clover allows relayers in a transaction to act on behalf of the sender and can cover the Gas fees in the base currency while receiving compensation in the denominated assets. When this is applied, the transaction costs are deducted from the transacted assets.
The network also has an identity-based gas compensation scheme. This allows frequent users to pay a lower gas fee based on how often they use the network.
What do we mean by interoperability, and how does it work?
In this article, you will hear us talk a few times about blockchain interoperability. But what is it? Without knowing that, it is also difficult to understand what exactly Clover Finance does.
When we talk about the interoperability of blockchains, we mean the collaboration between different blockchains. We can best explain this by means of a practical example.
Suppose you have an Apple MacBook, and you come across a program on the Internet that you need to mix music. However, you soon find out that this program can only be downloaded for Windows computers. You can download it on your MacBook, after which you will soon find out that you cannot use the program. The interoperability between MacBook and Windows computer is very poor.
There could be a company that will then focus on improving interoperability between different operating systems. For example, it could create a software program that makes it possible to run Windows programs on MacBooks, and vice versa. You can imagine that at that moment a lot more is suddenly possible on a laptop or computer.
Many blockchains are like Apple and Microsoft: they see themselves as competitors and do things their own way. Fine, but it does prevent us from running Windows programs on Apple laptops.
Today, there are many crypto projects that want to solve the same problem for blockchains. Instead of competing with each other, they want to ensure that blockchains can work together. They can do that by writing software that makes two different pieces of software work together. It is almost never possible to make two different programming languages work together without problems (that is why we cannot run Windows programs on MacBooks).
Polkadot is one of the best-known projects that aims to improve the interoperability of blockchains. They do this by means of parachains. These are second blockchains that you could see as an intermediate chain. Nowadays Clover Finance can therefore also be added to the list of projects that want to improve the interoperability of blockchains. If you are confident that this will succeed, you should consider buying CLV tokens. The value could increase significantly in the future if this project achieves success.
Buy Clover Finance (CLV)
Clover Finance is now well known in the cryptocurrency world with the status of a very promising crypto. Clover Finance is a serious project, which has a strong team behind the crypto with a lot of expertise.
There are several ways to get Clover Finance (CLV). It is best to buy CLV from a centralized crypto exchange , such as Binance , Coinbase , Coinmerce or Bitvavo . You probably also know that there are many crypto exchanges. However, it is not wise to just choose a broker. This is partly due to safety and the costs involved. Some exchanges are not safe enough, and others charge sky-high transaction costs.
We recommend that you buy CLV from Binance or Bitvavo, because you can buy this cryptocurrency here for the best price and security. These exchanges are among the largest, so they can always offer high liquidity. This ensures that you as a buyer and seller get the best price for your crypto coins.
It is of course also possible to buy CLV from a decentralized exchange (DEX) such as Uniswap or Sushiswap . However, that is not recommended if you are still a novice crypto trader. Since September you can now also buy CLV on Bitvavo, you can do that below.
Is it smart to buy Clover Finance (CLV)?
At the moment, Clover Finance is becoming one of the largest cryptocurrencies in the world. Partly due to partnerships with a number of large companies and the social acceptance of Clover Finance, the future of Clover Finance looks very bright. These two factors also make Clover Finance’s 2021 price predictions very good. The price is rising as more and more people invest in this crypto.
Many cryptocurrency experts believe that the price of Clover Finance will rise sharply in the future. This is partly due to the fact that the cryptocurrency market in general is growing and becoming more famous, even governments are concerned about it. However, it can be said that the cryptocurrency market is highly volatile. Significant price increases and decreases can occur in a short period of time.
That is why we advise everyone to closely follow the latest news about Clover Finance and the Clover Finance roadmap, before investing in Clover Finance. This way you always know what to expect and in which coins it is best to invest.
However, it is clear that the team behind Clover Finance still has big plans for the future and Clover Finance is certainly a coin to be reckoned with going forward. If you look at the past of the coin price and analyze it superficially, a 100-200% increase between 2021 and 2025 is certainly not a bad idea. It is therefore not unrealistic to predict that this cryptocurrency will rise sharply in the future.
Clover Finance (CLV) price
What are Clover Finance’s expectations?
As with the price analysis, it is difficult to make reliable predictions for the price of this token. Especially since the various models largely use past prices to try to predict future prices. Here the sample is still too perfect.
Nevertheless, if we stick to these predictive models, the potential already seems clear. According to TradingBeasts algorithmic models, the CLV could already have reached the $2 mark by the end of 2021. In a price range estimated between 1.70 and 2.50 USD. The trend at DigitalCoinPrice also looks quite positive. The platform estimates that the price of the token could exceed USD 1.60 by the end of 2021. In the longer term, the rise could continue and the token could exceed USD 2 by 2023. These forecasts, especially the long-term ones, are still very fragile, given the lack of ex post knowledge about the project.
Despite the fact that the project is still young, a number of elements already seem positive. In particular, Clover has a large number of partners. These partnerships with well-known and recognized blockchain players such as Polychain Capital, Hypersphere and Divergence reassure us about the seriousness of the project and its long-term solidity. Among the strategic partners and users of the solution, players such as Polygon , Unilend or The Graph also argue for the seriousness of the project.
Thanh Lanh Tran(1989) is Chief Editor from BitcoinUSD.com