https://medium.com/coinmonks/5-exciting-projects-in-the-polkadot-ecosystem-2e2d0d657e3e

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As the gas fees continue to plague the Ethereum ecosystem, many projects are finding refuge in other smart contract platforms, such as Binance Smart Chain, Polkadot, etc. I will not argue about the Ethereum gas fee being a security mechanism or how other networks have security tradeoffs. The fact is, the jungle is too big for a single lion and Polkadot is another contender.

In this article, we will look at some projects coming into the Polkadot ecosystem which I think are here to stay.

I am not affiliated with any projects listed in the article nor I advise you to invest in them, I just want to share them with you and help you make your own decision. All price data is taken from coingecko.

ChainX (PCX)

ChainX is a bridge built on substrate and one of the oldest projects in the dot ecosystem. It is the layer 2 solution for Bitcoin with an aim to make Bitcoin more useful by providing smart contracts, a faster payment channel, and DeFi through a synthetic version of Bitcoin called XBTC.

ChainX is also a cross-chain bridge for any blockchain to the dot ecosystem. Moreover, it would also facilitate inter-chain communication for different chain assets and the X-Tokens.

Put simply, ChainX has 4 modules to perform the mentioned operations-

• PCX Module — It takes care of staking, payment of fees, on-chain governance, distribution of inter-chain mining rewards, and backing bitcoin financial derivatives.
• DEX Module — This is a cross-chain transaction module to circulate assets on different chains for minimum costs.
• Inter-Chain Module — This is a gateway for different chain assets and X-Token. It mainly includes an inter-chain transaction verification system, an on-chain mintage program, and a deposit and withdrawal program for X-Tokens.
• Relay Module — This is an information exchange and verification system between ChainX and outside chains. It mainly consists of a chain information update program, chain monitor program, and inter-chain information collection and transmission program.

Current Price /Market Cap — $10.15/$103,196,028

Circulating/Total Supply — 10,167,800 / 21,000,000

Reef Finance (REEF)

Reef finance is a DeFi platform with access to liquidity from CEXs and DEXs and blockchain networks such as Ethereum, Avalanche, and others outside Polkadot.

Reef uses an AI-driven personalized engine called Reef Yeld Engine to provide customized DeFi investments for users with varying risk tolerance and requirements.