EtherLite Finds Its Sea Legs as Team Outlines Ambitious Targets
Its’ been about a week since EtherLite started trading on crypto exchanges, but apparently, there is much more ahead for this burgeoning project. EtherLite, which was created from a hard fork of the larger Ethereum network, has already started trading on several exchanges, including HitBTC, but an eager community is clamoring for more.
Fortunately for them, the project is quick to engage with users on social media, including their Telegram channel, where the team has revealed some details. And while the ETL market is active, investors are waiting for the next big thing involving decentralized exchanges (DEXs) and decentralized applications (Dapps) in hopes of driving up the price further.
The EtherLite price is volatile, as is the case with many cryptocurrencies, especially newer ones. But ETL has managed to surpass its pre-ICO price.
DEX and Dapps
One thing investors want to know is when they will be able to trade on DEX Uniswap and stake their ETL tokens. Along these lines, they have their sights set on swapping tokens to wrapped ETL (WETL), which is needed in order to trade on the DEX.
EtherLite has yet to tip its hand as to the steps that will be involved in the process, nor has it sent the contract to wrapped ETL. While ETL is live on Uniswap, investors can’t trade it until liquidity is added. They are preparing for users to both “hold and stake EtherLite” in the hopes of reaching wide-scale adoption.
The EtherLite team is currently in negotiations to list ETL on “major to exchanges,” according to the community leader on Telegram. They are also looking to raise EtherLite’s profile for Dapps, a use case for which Ethereum is currently out front. EtherLite is targeting more than 100 Dapps on its platform including at least “three large scale” ones. The community lead hinted that Dapps will be revealed in the next few weeks.
While it was born from Ethereum, EtherLite has set out to solve all of the larger network’s issues surrounding scalability and fees, to name a couple. The project has captured the attention of South African cricketer David Miller, who recently tweeted that the EtherLite blockchain “looks interesting.”
— David Miller (@DavidMillerSA12) June 29, 2021
The EtherLite Foundation is behind the EtherLite blockchain, and they are looking to make it fully decentralized in the next couple of years.