Yearn DeFi Hacker Launders $11.6M through Tornado Cash
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Yearn Finance Protocol’s old version was hacked last month and the hacker stole $11.6M in Stablecoins. The exploiter transferred $3.6M worth of 2000ETH to Tornado Cash in recent transactions. Peckshield, a Blockchain Analytics Firm stated that the exploiter taking funds to varied addresses and dispelling them to Tornado Cash. The laundering was nearly worth $9.3B by the hacker via transactions on Tornado Cash.
76% of Global Finance Leaders Eye Institutional DeFi
The post 76% of Global Finance Leaders Eye Institutional DeFi appeared first on Coinpedia Fintech News
Firms from traditional finance are entering the crypto market, the firms have been investing in assets and partnering with crypto-related firms to strengthen their financial position and expand customer offerings.TradFi’s entry into crypto boosts confidence, the investor appetite seems growing. Ripple analyzed crypto trends for businesses in their new report. 76% of activators are keen on institutional DeFi and eyeing to innovate their enterprise. Over 90% believe that this technology will heavily impact business, finance, and society within the next three years.
DeFi Stakers Are Moving on From Polygon (MATIC) To TMS Network – And It’s for A Reason!
A notable shift is underway in the world of decentralized finance (DeFi) as stakers are making a decisive move from Polygon (MATIC) to the TMS Network, and the motivations behind this transition are clear. The departure from Polygon (MATIC), a once-prominent platform, is driven by compelling factors that have captured the attention of DeFi enthusiasts. The emergence of the TMS Network (TMSN) has sparked excitement and enticed DeFi stakers to explore greener pastures for better opportunities!
Polygon (MATIC) Price Analysis – Bears Seem to Take Over
The recent performance of Polygon (MATIC) has seen a significant downturn in the last month. Over the past 30 trading days, MATIC experienced a substantial decline in value from $1.17 to $0.84 or a drop of approximately 32.26%.
Moreover, on-chain data reveals a concerning trend of investors withdrawing funds from the Polygon (MATIC) ecosystem following the completion of Ethereum’s Shanghai Upgrade.
Since April 13, approximately 92 million MATIC tokens (equivalent to 1% of the total circulation supply) have been unstaked from various smart contracts. The decline in the percentage of MATIC staked in smart contracts began just a week before the Shanghai Upgrade, increasing the supply of tokens available for trading on exchanges.
This departure of stakers has raised concerns about the future trajectory of the Polygon (MATIC) price, leading to bearish predictions among traders. If the supply surpasses demand, it could exert downward pressure on the Polygon (MATIC) price.
The bearish price predictions for Polygon (MATIC) could materialize unless investors begin to withdraw coins from exchanges. If staking dynamics fail to improve, IntoTheBlock’s In/Out Money Around Price data suggests a potential retracement of Polygon’s price towards $0.75.
Simply put, should the bears successfully surpass the support level of $0.83, the Polygon (MATIC) price will likely decline to around $0.75. Nevertheless, the bulls have an opportunity to invalidate the negative predictions by pushing the Polygon (MATIC) price above $0.90.
TMS Network – Nothing but Bullish Forecasts Ahead
TMS Network (TMSN) emerges as the groundbreaking solution to address the pressing challenges traders face today. This state-of-the-art, purpose-built decentralized trading platform is the first of its kind, combining the worlds of cryptocurrency and derivatives to revolutionize the trading experience.
By tackling issues such as price uniformity, high fees, price manipulation, wash trading, transaction delays, inadequate trading experiences, and the lack of trading education, TMS Network (TMSN) provides a comprehensive solution for traders seeking a seamless and secure trading environment.
With TMS Network (TMSN), traders can easily connect their wallets and engage in trading activities. The user-friendly interface and intuitive features that TMS Network (TMSN) provides enable smooth trading experiences, accompanied by the flexibility to withdraw funds directly to the wallet.
To ensure optimal trading results, TMS Network (TMSN) introduces trading bots and a strategy builder equipped with a robust back tester, empowering traders to minimize emotional decision-making and maximize their trading strategies’ efficiency.
TMS Network (TMSN) represents a paradigm shift in the trading industry, where traders are no longer limited by traditional barriers. During the public presale in progress, the TMS Network (TMSN) native token is trading at $0.088 and has displayed an astonishing increase of 4300% from its initial price.
Experts anticipate that the TMSN token could experience a 100x surge in value before the end of 2023, positioning TMS Network (TMSN) as a highly attractive investment opportunity, capturing the attention of investors in an increasingly competitive crypto landscape.
Explore the TMS Network presale here:
Presale: https://presale.tmsnetwork.io/
Website: https://tmsnetwork.io/
Telegram: https://t.me/tmsnetworkio
Twitter: https://twitter.com/tmsnetwork_io
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DeFi is Dead. Move over Aave and Curve, Avorak and AI Crypto are the Next Big Things
For the longest time, blockchain technology has embraced evolution within the digital universe. The ecosystem has now integrated artificial intelligence (AI) thanks to Avorak AI. The combination is said to be a futuristic improvement to humankind as there will be massive benefits in various fields such as medicine, sports, and agriculture. Additionally, with the inauguration of AI projects like Avorak, cryptocurrency will have massive adoption as both blockchain technology and AI continue to grow.
What is Aave?
Aave is a digital currency lending platform that allows users to borrow cryptocurrencies. In a nutshell, users get to offer their digital assets to the platform in return for acquiring profit. Conversely, users can borrow virtual currency from the platform and pay interest in return. The platform is an Ethereum-based blockchain protocol. Therefore, this indicates that the project utilizes smart contracts in conducting all transactions.
The lending platform’s native token is AAVE which allows participants of the protocol to conduct transactions such as staking for earning rewards and trading on various exchanges. Users also get governance benefits in the voting system of Aave by owning the token.
What is Curve?
Curve is a blockchain protocol that utilizes various digital currencies to operate automated market-making services (AMM). Curve’s AMM is comprehensively based on stablecoins. Stablecoins are digital assets pegged to mimic fiats, such as dollars, and other tangible assets, such as Gold and Silver.
Being developed on the Ethereum main net, Curve utilizes smart contracts to conduct and conclude transactions. The native token for the Curve is CRV. CRV enables participants to conduct activities such as buying and selling digital assets. The native token also allows users to become a decentralized autonomous organization (DAO). In this case, they can partake in conducting changes related to the protocol.
Avorak the Next Blockchain Ecosystem?
Integrating artificial intelligence and blockchain technology is needed to increase digital currency adoption. Therefore, Avorak comes in handy, forming a part and parcel of the revolution to change the old model. Avorak is regarded as a cryptocurrency that embeds blockchain technology and artificial intelligence to allow various activities. The infrastructure has an inbuilt mechanism called Avorak Trade that facilitates automated trading activities for clients through automatic API and bots with abilities to generate exclusive trading indicators.
The ecosystem is designed to reduce human tasks and work time, including text generation, creative works, and trading. For this to occur, the digital asset project has its native currency, dubbed AVRK, which acts as fuel for the environment. In other words, AVRK is the AI crypto of the ecosystem.
AVRK has a maximum supply of 40 million with an impressive distribution face as there will be 28 million tokens for public ICO, 2 million for primary staking pool, 1.6 million team allocation, 2 million for marketing funds, 4 million for CEX tokens, and an initial liquidity of 2.4 million. The native tokens allow participants to partake in the operations held by Avorak’s artificial intelligent accessories. Moreover, they will be able to receive rewards from the revenue Avorak makes which accounts to 49% of the total revenue.
The project aims to utilize a proof-of-learning mechanism since artificial intelligence is based on a time-to-time learning schedule for the learning software to keep up with recent developments. Moreover, the project has a deflationary program of burning 2% of its tokens to enhance stability and proper operation while at the same time rewarding holders in the long run.
Bottom Line
The blockchain ecosystem has experienced massive development over time. Regardless of whether or not there isn’t a need for a quick divert to the quickly rising artificial intelligence, the decentralized system needs to join the bandwagon. Joining the wave will signify a reduction of workload not only for users but also for the developers. Avorak seems to be a suit for the place as it combines both blockchain technology and artificial intelligence.
Learn more about Avorak AI:
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Best DeFi Cryptocurrencies 2023, Uniswap, PancakeSwap, Tradcecurve
Uniswap and PancakeSwap are among the oldest and most used decentralized exchanges in crypto. Tradecurve is a new player that is yet to establish a broad customer base, as they are currently in presale, but offers functionality way beyond Uniswap and PancakeSwap.
Crypto’s first and biggest DEX – Uniswap
Uniswap was the first dex to be launched on the Ethereum blockchain, allowing crypto users to easily buy, trade and exchange cryptocurrencies. Uniswap v3 is the largest DEX in terms of Unique Active Wallets (UAW) and Volume. According to Dappradar, Uniswap’s UAW are up by 25% over the last month and transactions have increased by 92%. Although starting on Ethereum, Uniswap is now available on Polygon, Optimism, Celo, Arbitrum and BNB chain, and will shortly be expanding to Polkadot’s parachain Moonbeam.
CoinMarketCap shows that Uniswap V3 on Ethereum alone has over 21% of the entire DEX market share. UNI, the native token of Uniswap is up by 6% over the last year though is down by 15% over the last month, most likely due to the receding hype over PEPE coin.
BNB chain’s most beloved DEX – PancakeSwap
PancakeSwap was the first dex to be launched on the BNB chain, and is often the first place that people look when they want to buy a new coin, as this DEX tends to have one of the biggest choices, even if the fees aren’t as cheap as say, Firebird Finance. Many people feel loyalty to PancakeSwap, its unique rabbit logo and token CAKE.
Dappradar shows us that PancakeSwap v3 is the second largest DEX after Uniswap and has seen an 81% increase in UAW, a 122% increase in volume, and 152% increase in transactions over the last month, indicating that more and more crypto users are turning to DeFi for trading.
All that hasn’t translated into growth for CAKE though, which is down by over 50% in the last month. To combat this, PancakeSwap’s DAO have voted for an ‘aggressive reduction’ of CAKE token inflation over the coming months.
DeFi’s most innovative trading platform – Tradecurve
While PancakeSwap and Uniswap allow you to trade and stake crypto, they do not allow you to trade things like forex, shares, bonds, ETFs and other exciting financial products, nor do they have the ability to provide leverage for greater returns.
Tradecurve on the other hand aims to bridge the world of centralized and decentralized exchanges, by being on chain and therefore avoiding regulatory issues, KYC and privacy concerns, and at the same time offering the kind of financial instruments you would expect to see on a TradFi brokerage account. Therefore Tradecurve doesn’t seek to challenge PancakeSwap or Uniswap, but rather add something new into the world of DeFi.
Tradecurve’s token TCRV will allow people to stake their coins to generate income, provide liquidity to the platform and will also bring benefits such as reduced trading fees and discounts on subscriptions for AI trading bots. Unlike CAKE, which is inflationary, TCRV has a limited supply making it deflationary.
As well as offering transparency by being built on chain, Tradecurve also plans to launch Proof of Reserves and sees itself as a challenger to CEXes like Robinhood and eToro.
TCRV is in the second phase of presale, available at $0.012, before increasing to $0.015.
Given that Binance’s ICO launched in 2017 for just $0.11, and BNB coin now trades at around $311, the room for Tradecurve’s growth is immense, and the token is forecasted to rise by 50x in the presale with the potential for another 100x after the coin gets listed on Uniswap and other major exchanges.
For more information about TCRV presale tokens:
Website: https://tradecurve.io/
Buy presale: https://app.tradecurve.io/sign-up
Twitter: https://twitter.com/Tradecurveapp
Telegram: https://t.me/tradecurve_official
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Trade DeFi Gems like Fantom with Avorak AI Algos like a pro
The DeFi ecosystem is rapidly growing, and traders scout for profitable trading opportunities. Fantom (FTM) is one of the emerging DeFi gems that has attracted investor attention due to its rapid growth and potential for future adoption. Whether you are an experienced crypto trader or a newbie, the easy-to-use Avorak Trade tools will simplify your crypto trading experience.
Fantom FTM
Fantom is a fast, scalable, and secure blockchain platform that offers a range of DeFi services, including tokenization, staking, and decentralized lending. It’s innovative consensus mechanism and technical architecture have positioned it as a leader in the DeFi space. With Avorak AI’s sophisticated trading tools and algorithms, traders can analyze market trends, identify trading opportunities, and make informed decisions when trading Fantom crypto. The platform’s advanced trading bots and real-time market data provide insights and dynamic trading strategies when trading any DeFi coin, including FTM. Through Avorak AI, traders can gain exclusive access to the latest news, insights, and market analysis related to the DeFi ecosystem. This comprehensive analysis lets them stay updated on the latest market trends and make smart trading decisions to maximize their profits.
Avorak AI (AVRK)
Avorak AI is a comprehensive portfolio featuring multi-use bundled tools for blockchains and individual traders. AI is doing wonders in several industries, from auto to aerospace. A YouTube video by CryptoTV has laid down the various uses of AI and the significance of AI crypto. Avorak AI solutions fall under AI crypto, an application of AI in blockchains and other crypto functions. Avorak leads AI crypto with its bundled tools, including chatbots, trade bots, virtual assistants, and text generators. Avorak Write helps users to generate error-free content meeting users’ intended style by auto-correcting and proofreading before generating the final copy. Avorak Write strives to eliminate the existing defects affecting the existing AI tools. For example, it addresses repetitive and plagiarized content.
Avorak ICO, currently in phase six, has AVRK going at $0.235, a 291.67% increase from the initial price. Avorak will launch at $ 1 and list on Coinsbit, LAToken, PancakeSWap, and Azbit. The record-breaking ICO has seen early investors getting on top bonuses currently at 5%. ICO holders will also enjoy more pecks like priority staking, access to Beta, and more. Avorak AI’s infrastructure has passed through two audits by Cyberscope and SolidProof to guarantee its security and transparency.
Avorak Trade utilizes advanced algorithms to monitor markets 24/7 and analyzes historical and present data to determine accurate price prediction signals. The trading bot can be automated to trade on behalf of investors while they attend to other duties. Avorak Trade is also error-free and eliminates the human aspect of biases and fatigue. Furthermore, the tool has an easy interface, and anyone can use it comfortably, regardless of their technical level.
Wrap Up
FTM traders can leverage Avorak AI’s advanced trading algorithms and insights when trading DeFi gems like Fantom by taking advantage of the fast-paced and ever-evolving cryptocurrency market. With its powerful trading tools and real-time market analysis, Avorak AI offers a unique opportunity for all traders to trade DeFi like a pro, maximizing their profit potential while minimizing risks.
Get more on Avorak AI and ICO here:
Website: https://avorak.ai
Buy AVRK: https://invest.avorak.ai/register
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WeFi Sets New DeFi Standard with High-Yield Lending Pool Following Successful Token Launches and IDO
Tortola, VG, British Virgin Islands, May 19, 2023 – As a key player in the DeFi space, WeFi has demonstrated its growth and commitment through a series of noteworthy advancements. Building on the success of its IDO on Kommunitas and Spores, WeFi’s recent token launch on QuickSwap, listing on MEXC Global, strategic partnership with Gamma Strategies, and the unveiling of an enticing high-yield lending pool stand testament to the platform’s robust growth trajectory.
Post-IDO, which concluded on 5th May 2023, WeFi made a compelling entry onto the QuickSwap platform, providing users access to the $WEFI token on the Polygon network. With this launch, users can now benefit from the low gas fees and high-speed transactions offered by Polygon. Additionally, users can access the $WEFI token on MEXC Global, a leading digital assets exchange renowned for its user-friendly interface, secure environment, and diverse token selection. This dual-platform availability provides users with enhanced accessibility and choice in their trading operations.
Sharing the excitement about the recent developments, Pranjal Prashar, the Founder and CEO of WeFi, said, “It feels like just day 1, from our successful IDO to our token’s launch on QuickSwap and MEXC Global, we are excited about the progress we are making and the potential Omnichain DeFi holds for the wider DeFi community. Our lending pool is just one example of our core use cases”
In a strategic move, WeFi partnered with Gamma Strategies, a protocol designed for the non-custodial, automated, active management of concentrated liquidity pools. This collaboration aims to incentivize the $WEFI-ETH/WEFI-USDC liquidity position on QuickSwap.
This partnership with Gamma also sets the stage for a possible Chainlink oracle for $WEFI and dovetails with WeFi’s integration with LayerZero, which aims to establish $WEFI as an omnichain token across various blockchains.
“We are thrilled to collaborate with Gamma Strategies, which promises to bring in-depth management to our liquidity position,” adds Prashar. “This partnership holds enormous potential for optimizing the benefits for our users.”
Capping these developments, WeFi announced the forthcoming launch of its high-yield lending pool, promising an exceptional annual percentage yield (APY) of over 40%. This addition to WeFi’s diverse suite of pools, such as USDC, USDT, and WETH pools, presents users with an unparalleled opportunity to earn remarkable returns.
“With the debut of our high-yield lending pool, we aim to revolutionize the Omnichain lending landscape in the DeFi. This pool embodies our unwavering commitment to delivering novel and rewarding opportunities within the DeFi landscape,” Prashar added.
WeFi continues to demonstrate its dedication to innovation, user satisfaction, and the overall growth of the DeFi space. For more information about WeFi’s offerings, visit https://wefi.xyz/.
About WeFi:
WeFi is a decentralized money market protocol that enables lending and borrowing of digital assets, allowing users to earn interest on them and invest in a variety of assets using borrowed funds. It provides a platform for investors seeking passive returns and skilled users desiring to generate higher returns using leverage and advanced strategies.
Stay up to date with WeFi’s exciting developments by joining our community on:
Press Contact:
Contact Person Name: Nirmal Rathore
Email: [email protected]
Website: https://www.wefi.xyz/
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US DOJ Ramps Up Crackdown on Crypto Exchange, DeFi, Mixers
Crypto companies in the US are facing yet another obstacle as the Department of Justice’s national cryptocurrency enforcement team (NCET) ramps up its crackdown on bad actors in the market. With the appointment of Eun Young Choi as director of the team, the DoJ is setting its sights on crypto exchanges, mixers, and DeFi platforms that facilitate criminal activities such as money laundering.
This move comes as Ripple and Bittrex struggle with lawsuits, and Coinbase shifts its operations out of the country. The crypto industry in the US is in for a rough ride ahead.
US DOJ’s NCET Director Vows to Crack Down on Crypto Industry’s Bad Actors
The US DOJ’s NCET, led by Director Eun Young Choi, is on a mission to take down crypto exchanges, companies, and mixers involved in crimes that harm the crypto market, like money laundering. As crypto crimes continue to rise, Choi promises a crackdown on bad actors in the industry.
“But on top of that, they’re allowing for all the other criminal actors to easily profit from their crimes and cash out in ways that are obviously problematic to us. And so we hope that by focusing on those types of platforms, we’re going to have a multiplier effect.”
The DOJ intends to convey a deterrent message to crypto businesses that violate anti-money laundering or client identification requirements and fail to create adequate compliance, cybersecurity, and risk mitigation practices. The New York State Department of Financial Services (NYDS) has recently stepped up its enforcement of these rules against cryptocurrency companies.
The DOJ will specifically target chain bridge thefts and hacks in the DeFi space. Attacks on DeFi have increased over the past few years, and investor losses have reached billions of US dollars.
US Has Toughest Stance Against Crypto Globally
The DOJ’s crypto enforcement unit, led by the Biden Administration, is taking a hardline stance on the crypto industry, making it one of the toughest globally. Following the FTX crisis, regulators like the US SEC have been scrutinizing crypto exchanges, with Binance and Coinbase among those targeted.
Binance and its CEO “CZ” were charged by the US CFTC for violating commodities laws and non-compliance with regulations. The SEC is reportedly on the verge of taking enforcement action against Binance or its US arm.
Is Cardano a good investment in 2023? Avorak AI helps investors navigate DeFi
Many challenges and uncertainties slow the investment in cryptocurrency due to their volatile nature. Some cryptocurrencies continue to offer greater potential for investors despite the market’s unpredictability. Investors can rely on the innovative Avorak AI to navigate the decentralized finance (DeFi) market and better understand the prospects and potential risks associated with investing in digital assets like Cardano.
Is Cardano a Good Investment?
Cardano has been enjoying popularity for its scalable and fast blockchain platform for dApps. Powered by its native token, ADA, It has gained impressive traction since its launch in 2017, and many investors are wondering whether it will maintain its growth and make a good investment in 2023. Cardano’s unique architecture deploys secure, cost-effective, and scalable solutions which make the blockchain sustainable. Cardano’s roadmap is still in progress, and more development news can boost the price and make it a hot investment. It is a long-term investment, especially for the environmentally-conscious investors. Whether or not Cardano is a good investment boils down to the investor’s risk appetite, market conditions, and Cardano’s future developments. However, with Avorak AI’s assistance, Cardano investors can minimize risks and maximize their profits in the DeFi market.
Cardano Price Prediction
Investors already using Avorak AI have noted the accuracy of Cardano Price Prediction and the ease of navigating the DeFi market, minimizing risks, and maximizing returns through its packaged tools. Avorak AI comes in handy for investors by providing AI tools powered by advanced algorithms that help investors identify and capitalize on favourable indicators. Fresh from the FTX collapse, the DeFi space is recovering, and ADA is showing revival, as Cardano price prediction notes a rising trend in 2023.
How Avorak AI Helps Users Navigate DeFi?
Avorak AI is an AI crypto solution for blockchain platforms and crypto trading activities. It achieves this through a packaged comprehensive portfolio of products designed to ease the execution of human-led tasks not only in the crypto arena but also across mainstream industries. Its diverse usage, gives Avorak credence as the undisputed navigator of the DeFi space, whether novice or experienced. Avorak Trade is a flagship ultimate crypto trading solution that executes more than just prediction. It surveys the markets 24/7, analyzes voluminous data, and identifies trade indicators without fatigue or rest periods. As such, it eliminates human biases and errors to correctly forecast prices and general market movements. Avorak Trade has so far impressed even in its beta testing stage with its near-accurate analysis of crypto markets, including Polygon and Cardano’s price actions.
Avorak AI’s ICO has taken off with AVRK shooting up by 291.67% to $0.235. Despite this astronomical increase, AVRK’s price is still discounted, and investors would expect a further price increase, to launch at $1. LAToken is joining a list of several exchanges that will list Avorak AI, including PancakeSwap, Coinsbit, and Azbit. Excited platform users are full of accolades in their YouTube channels, explaining how Avorak is a likely 10X crypto.
In addition, Avorak is making waves in the content generation arena, with its Avorak Write. Avorak strives to reduce repetitive text and produce original content to suit diverse user styles.
Conclusion
Avorak AI strives to revolutionize the DeFi industry by creating a dynamic environment where investors can track their assets, stay updated on market trends, and use powerful algorithms to forecast prices and make well-researched investment decisions.
Read more about Avorak AI and ICO here:
Website: https://avorak.ai
Buy AVRK: https://invest.avorak.ai/register
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A New Player in the DeFi Space As It Surpasses Oasis Network (ROSE)
Sparklo is a new cryptocurrency project that has joined the DeFi (decentralized finance) space. The project has some unique features that make it stand out from other projects in the space. This means it can become one of the top projects in the DeFi space.
One of the ways Sparklo stands out is through its use of NFTs (non-fungible tokens). These tokens ensure that precious metals, such as gold, silver, and platinum, have immutable ownership and are secure. This means that users can confidently trade these precious metals, knowing their ownership is guaranteed.
Sparklo operates on the Ethereum network, which is a popular blockchain platform. The project has its native cryptocurrency, called SPRK. This cryptocurrency is an ERC-20 token, which means it has the same standards as other tokens on the Ethereum network.
Let’s look at another DeFi project called Oasis Network (ROSE) and compare it with Sparklo.
Oasis Network (ROSE): Low-Risk Investment Opportunity with Major Changes on the Horizon
Oasis Network (ROSE) is a cryptocurrency that InvestorsObserver has given a low-risk score. This means it’s a relatively safe investment option for those who want to avoid risky investments.
In the past 24 hours, Oasis Network (ROSE)’s price has fallen by -1.98% to $0.06; this movement has been considered low risk due to lower trading volume and market capitalization.
The network combines scalability and low fees with a privacy-enabled architecture, making it a foundation for decentralized finance (DeFi), NFTs, data tokenization, data DAOs, and GameFi.
Oasis Labs, a contributor to the ecosystem, has partnered with major companies, including Meta, BMW Group, and Genetica, to develop platforms and products that promote data governance, privacy protection, and responsible data use.
The Oasis Network (ROSE) plans major changes in 2023 and aims to become a major player in the decentralized web or Web3. They are releasing an engineering roadmap and organizing community events to engage with developers worldwide.
These developments on the Oasis Network (ROSE) are predicted to affect the price of ROSE tokens positively. This is good news for long-term Oasis Network (ROSE) holders. Yet, we will have to wait and see if the price of Oasis Network (ROSE) will have significant growth in the future.
Sparklo (SPRK) Token Ongoing Presale
Sparklo presale presents a unique investment opportunity that allows users to invest in fractionalized NFTs backed by real-world assets such as gold, silver, and platinum bars. With a price of just $0.019 per SPRK token, interested participants can participate in stage 2 of its ongoing presale.
This presale stage has a 30% bonus available for all participants and will run until June 20, 2023. Click on the presale link below to get started.
Moreover, the Sparklo team has taken security and long-term measures, such as passing its audit with Interfi Network and locking liquidity for 100 years, making it a safe investment for long-term gains.
By investing early in this promising project, participants can potentially reap significant gains as Sparklo becomes the first alternative-investment platform tailored for cryptocurrency investors.
Therefore, buying Sparklo during its presale is essential for investing in a reliable and secure alternative-investment platform that offers fractionalized NFTs backed by precious metals. With its innovative approach, exclusive access to new products, and attractive tokenomics of supply, investing in Sparklo could potentially lead to significant gains for investors.
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Solana (SOL) Embark On a New Rival That Will Change The Landscape Of Defi Forever. 14X Rally In 2023?
Rivals are needed in technology to drive innovation. Solana (SOL) sparked a competitive edge in other blockchains but now a new crypto is challenging the status quo in DeFi. The new crypto, HedgeUp (HDUP), 14X, is set to disrupt the world of DeFi and could cause a massive rally in the crypto market if it succeeds.
HedgeUp’s (HDUP) 14X ROI potential has early investors and analysts excited. If the crypto succeeds, it could translate into a massive 14X return in the next year alone and could make early investors very wealthy. If you are searching for a high-ROI project to invest in, HedgeUp (HDUP) is definitely worth looking into.
Why Solana (SOL) Might Struggle…
Once beloved by venture capital, Solana (SOL) struggled to keep its momentum as Defi competitors such as Ethereum and Binance Smart Chain took over. With low transaction fees, few dapps, and decentralization issues, Solana (SOL) has had difficulty keeping up with the competition.
Solana (SOL) once had hype that skyrocketed its price to new heights. but now faces an uphill battle to remain competitive. The Solana (SOL) team needs to keep a close eye on competitors and be agile to stay ahead of the curve, or else risk getting left behind.
Additionally, since Solana (SOL) is still relatively new. Solana (SOL) lacks a large developer community and liquidity which are both essential for the success of a Defi platform. Plus, Solana (SOL) faces another competitor that is unique in its own way – HedgeUP (HDUP).
Why HedgeUP (HDUP) Has An Edge Over Solana (SOL)
HedgeUp (HDUP) is a crypto platform that uses blockchain technology to let users invest in alternative assets. You can get started with only one dollar. It does not cost a lot of money. Trusted firms conduct audits and a secure vault is used to store the assets. From luxury art to wine and watches, HedgeUP (HDUP) is the go-to gateway for alternative asset investments.
Investors who get in early will benefit greatly as the demand for alternative assets continues to increase. As an incentive, early investors can get a whopping 30% bonus for investing in HedgeUp (HDUP).
Also, HedgeUp (HDUP) is expected to increase by 14x as early as 2023. This is because by owning the crypto asset HDUP, users can get access to special rewards that can be learned about through their whitepaper. It’s an in-depth document that outlines the features and opportunities of the platform.
Final Thoughts
So, if you’re looking for a crypto that has solid long-term prospects, consider investing in HedgeUp (HDUP). It offers low-cost entry and a 30% bonus for early investors. Plus, with a projected 14x increase in 2023, investors can benefit from considerable rewards. With that said, investors should do their own research before investing in any crypto asset. Happy Investing!
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Breaking: UK Tax Authority Announces DeFi Lending And Staking Tax Reforms To Avoid Tax Evasion
The decentralized finance (DeFi) space has been the subject of much interest and intrigue among investors and regulators alike. Its ability to facilitate rapid and anonymous financial transactions has raised eyebrows, particularly when it comes to avoiding taxes.
Governments worldwide are now taking a closer look at DeFi platforms and proposing new regulations to curb tax evasion and ensure transparency in the crypto industry. In response to recent crypto market failures and growing concerns over tax evasion, the UK’s tax authority, HM Revenue and Customs (HMRC), has proposed changes to the tax treatment of DeFi lending and staking.
HMRC Takes Aim At DeFi Tax Loopholes
The UK’s tax authority, HM Revenue and Customs (HMRC), recently announced that they are seeking public input on proposed changes to the tax treatment of decentralized finance (DeFi) lending and staking.
The announcement follows a 2022 call for evidence, with the authority citing recent crypto market failures, such as the collapse of the FTX exchange, as reasons for increased regulatory scrutiny in the sector.
Global regulators have been closely monitoring DeFi, as policymakers have identified specific risks associated with the technology. These risks include cybersecurity threats, technical vulnerabilities, and growing interdependence between traditional and decentralized financial systems. Additionally, policymakers have noted a lack of safety nets during times of market stress, further fueling their concerns.
Under the present regulations, DeFi transactions may be classified as disposals, allowing lenders or liquidity providers to write them off as gifts or sales, even when the ownership of the asset remains unchanged. The consultation document mentions:
“This can lead to tax outcomes that do not reflect the underlying economic substance, and to a tax liability from a transaction where no gain has been realized in a form which can be used to meet the liability. The need to determine and record the market value of assets at each step in the transaction may also give rise to a disproportionate administrative burden.”
UK Ensures No Tax Evasion In DeFi Transactions
The proposed alterations would ensure that DeFi transactions are not considered disposals for tax purposes, only occurring when crypto assets are “economically disposed of in a non-DeFi transaction,” according to the consultation. The new framework might also classify all DeFi returns as revenue in nature, subjecting them to a “new miscellaneous income charge” in order to reduce administrative burdens.
Although the proposed framework primarily targets DeFi lending and staking, it is also intended to apply to centralized finance (CeFi), where crypto lending or staking is facilitated through intermediaries.
The HMRC has previously adapted existing tax rules for crypto, including offering a tax break for foreign investors purchasing crypto through local agents. The consultation will be open for eight weeks, concluding on June 22.
With transactions happening autonomously and across decentralized networks, tracking and taxing DeFi transactions has proven to be an uphill task. One major hurdle for the government will be the complex nature of DeFi transactions. Smart contracts that power DeFi platforms execute transactions without the need for a central authority or intermediary.
Another challenge that the government will face is the borderless nature of DeFi transactions. Cryptocurrencies can be traded and transferred across borders with ease, making it difficult for authorities to determine the tax jurisdiction for DeFi transactions.
HMRC’s proposal to reform the tax treatment of DeFi lending and staking signals a growing awareness among regulators of the unique challenges and opportunities presented by the DeFi space. As the DeFi ecosystem continues to be on an upward road, it is crucial for governments and regulators to work together to develop clear and comprehensive frameworks that promote transparency, protect investors, and maintain the integrity of the financial system with zero tax evasion.
Why Mooky is the Top Pick for DeFi Investors in 2023
A brief overview of Mooky and its potential in the DeFi space
Mooky is a DeFi token with a unique mission to plant trees globally and better the environment. It is a community-owned token with governance where the community decides how to run the operations on a DAO vote. Mooky stands out from other DeFi tokens with its 0% tax token and low slippage requirements, making it an attractive option for investors. In addition, Mooky offers unique NFTs connected to real-life planted trees and a Ventures Club for legendary and super rare NFT holders. With its unique features and commitment to the environment, Mooky has the potential to become a leading DeFi coin in 2023.
Mooky’s Unique Features
Mooky has several unique features that set it apart from other DeFi coins. These features include:
- 0% Tax Token: Mooky is a 0% tax token, meaning there are no slippage requirements when buying or selling. It makes it a more attractive option for investors who want to avoid high transaction fees.
- Community-Owned Governance: Mooky is a community-owned token with governance, which means that the community decides on a DAO vote how to run the operations. It empowers token holders and gives them a say in the platform’s decisions.
- Commitment to the Environment: Mooky’s mission is to plant trees globally and inspire change to better the environment. This commitment to social responsibility can attract socially responsible investors who want to invest in companies that align with their values.
- Unique NFTs: Mooky offers unique 3D NFTs that provide utility and ROI. Each NFT is connected to a real-life tree. Legendary and super rare NFT holders also receive entry into the Mooky Ventures Club.
- Mooky Ventures Club: The Ventures Club is a unique perk for legendary and rare NFT holders. Members receive airdrops bi-monthly from partnership platforms, merchandise, and passive income from the investment portfolio. It can be tracked through a dashboard, giving members transparency into the club’s activities.
Mooky’s unique features make it an attractive option for investors looking for a DeFi coin with potential gains and a commitment to social responsibility. The community-owned governance structure and unique NFTs also give investors a sense of ownership and connection to the platform.
Mooky’s potential to outperform other DeFi coins in 2023 based on market trends and expert opinions
Mooky has already established itself as a strong player in the DeFi space, and its potential for growth in 2023 is high. Market trends and expert opinions suggest that Mooky has a good chance of outperforming other DeFi coins in the coming year. Here are some factors that contribute to Mooky’s potential for success:
- Strong Community Support: Mooky is a community-owned token with a governance structure that allows holders to decide how the platform is run. It ensures that the community is invested in the project’s success and that decisions are made with the community’s best interests in mind.
- Unique Features: Mooky stands out from other DeFi coins with its 0% tax token and low slippage requirements, which make it an attractive option for investors. Additionally, Mooky’s commitment to the environment and unique NFTs provide additional value to holders.
- Growing Popularity: Mooky has been gaining popularity in the DeFi space, with a solid following on social media and positive reviews from industry experts. As more people become aware of the project, its potential for growth increases.
- Increasing Adoption: DeFi adoption is rising, and Mooky is well-positioned to benefit from this trend. With more people using DeFi platforms, the demand for DeFi coins like Mooky will likely increase.
- Bullish Market Trends: Many experts predict that the overall crypto market will continue to grow in 2023, which bodes well for Mooky’s potential for gains.
Overall, Mooky’s strong community support, unique features, growing popularity, increasing adoption, and bullish market trends all contribute to its potential for outperforming other DeFi coins in 2023. While no investment is without risk, Mooky’s potential for gains makes it a top pick for DeFi investors in the coming year.
Conclusion
Mooky is the top pick for DeFi investors in 2023for several reasons:
- Its unique features, including a 0% tax token and community-owned governance structure, make it an attractive option for investors looking for a low-slippage and community-driven project.
- Mooky’s dedication to the environment and social responsibility is demonstrated by its initiative to plant trees globally, which could appeal to investors with a strong sense of social consciousness.
- Expert recommendations from industry leaders further strengthen Mooky’s potential for gains in the DeFi space.
Mooky’s unique features, commitment to the environment, and expert recommendations make it an excellent investment opportunity for DeFi investors in 2023.
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Renq (RENQ) vs HedgeUp (HDUP), which Defi platform will holders use for digital assets?
As the DeFi space continues to heat up, two platforms have emerged as major contenders for investors seeking to gain exposure to the alternative asset market: RenQ Finance (RENQ) and HedgeUp (HDUP). Both platforms aim to provide investors with greater accessibility and liquidity for digital assets, but which one will ultimately emerge as the top choice for holders?
What is Renq finance (RENQ)?
RenQ Finance (RENQ) is a decentralized finance (DeFi) platform that operates on the Ethereum (ETH) blockchain. Its goal is to disrupt the DeFi industry. The platform uses a multi-chain DEX to connect all isolated blockchains and offers a user-friendly cross-chain exchange network that provides the necessary support for the DeFi ecosystems. This ensures never-ending liquidity as RenQ Finance (RENQ) pulls its liquidity from several exchanges and can distribute a single trade across multiple DEXs to get the most competitive prices.
RenQ Finance (RENQ) offers a solution for traders in the DeFi world with their community-driven platform. RenQ Finance’’s (RENQ) goal is to provide traders with an all-in-one solution with the benefits of both a centralized exchange and beyond.
What is HedgeUp (HDUP)?
On the other hand, HedgeUp (DHUP) has garnered significant attention for its unique approach to alternative asset investment. By tokenizing a wide range of assets such as diamonds, gold, watches, and more, HedgeUp (HDUP) aims to provide investors with greater access to a market that has traditionally been difficult to access. And with the alternative asset market set to quadruple in size by 2025, the potential for significant growth is enormous. Tokens are still really cheap since the HedgeUp (HDUP) project is in the presale phase. Current prices trade for $0,013, but will soon reach $0,020 when new milestones have been reached.
Which DeFi platform will come out on top?
While it’s impossible to predict the future, both platforms have clear strengths and have the potential for significant growth in the coming years. RenQ Finance’s (RENQ) innovative approach to a multi-chain DEX is promising to say the least and is likely to appeal to a wide range of investors seeking exposure to many blockchain projects. HedgeUp’s (HDUP) on the other hand has a totally different and unique approach to the booming market of alternative assets. It provides a new avenue for investors seeking greater diversification in their portfolios that was never possible before.
Ultimately, the choice between RenQ Finance (RENQ) and HedgeUp (HDUP) will come down to individual investor preferences and risk tolerances. But one thing is clear: the DeFi space is rapidly evolving, and platforms like RenQ Finance (RENQ) and HedgeUp (HDUP) are at the forefront of this exciting new market. As the alternative asset and DeFi market continue to grow and mature, these platforms are likely to play an increasingly important role in shaping the future of finance.
For more information on HedgeUp (HDUP) click the links below:
Telegram Link: https://t.me/HedgeUpChat
Official Website: https://hedgeup.io
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Most Investors Will Miss The AI Crypto Trend,” says Top DeFi Analysts
AI crypto is the latest crypto trend. Many crypto analysts and experienced investors predict that AI crypto projects might witness significant surges this year. Unfortunately, several top DeFi analysts suggest that many investors are likely to miss out on this trend, despite its potential for huge profits.
Crypto trends
Since the inception of Bitcoin, the blockchain has seen tremendous growth and development. What started as a niche technology with few users has now exploded into a network with thousands of cryptocurrencies available, and users all over the world. To that end, there have been several advancements in crypto, each creating a wave within the blockchain. Some of the most notable crypto trends include meme coins, blockchain gaming, DeFi, and the recent AI crypto.
AI crypto
AI Crypto is the convergence of artificial intelligence (AI) and cryptocurrency. This integration presents a unique opportunity for investors to capitalize on the potential of these two transformative technologies. One of the primary advantages of investing in AI crypto is that it offers exposure to AI without requiring investors to have an in-depth understanding of the technology’s complex algorithms and programming.
Additionally, AI crypto has the potential to generate higher returns than traditional investments due to its utilization of cryptocurrencies. However, as with any investment, AI crypto comes with its own set of risks and challenges. The novelty of the technology means that it is not yet as established as other forms of investing, leading to higher levels of volatility and unpredictability. Furthermore, investors must possess a certain level of technical knowledge to navigate the complexities of AI crypto successfully.
What is DeFi?
Decentralized Finance (DeFi) refers to a system of financial applications that allow users to access financial services such as lending, borrowing, and trading via the blockchain without the need for intermediaries like banks. According to several top DeFi analysts, many investors are likely to miss out on AI crypto. They suggest that many investors may be put off by the perceived complexity of the technology, or may not have the resources to fully explore the opportunities it presents. However, some interested parties are pointing to Avorak AI, arguing that it has the potential to lead AI crypto and change the narrative once it’s launched.
Avorak AI: The latest AI crypto
The Avorak AI initial coin offering (ICO) event started on 1st March, and since then, it has been a hot topic. New YouTube videos are popping up every day as crypto watchers highlight the advantages of Avorak AI and its potential for significant growth.
Avorak AI combines artificial intelligence with the blockchain’s capabilities to offer users a transparent, secure, and efficient way of conducting transactions while also giving them access to advanced and first-to-market AI solutions. These AI solutions include Avorak Write and Avorak Create, which can greatly streamline content creation. Avorak Create is Avorak’s image creator, which uses a pure language-to-image system to create unique images that align with every requirement of its user. Avorak Write, Avorak’s text-generating AI, writes, detects plagiarism, autocorrects and edits texts to ensure a clean and plagiarism-free AI text-generating experience.
Avorak AI is designed specifically with non-tech-savvy users in mind. The platform includes detailed tutorials and step-by-step guidance throughout all areas and includes unique features aimed at enhancing usability. For example, Avorak’s trading bot doesn’t require code inputs from its users. Avorak AI is developing a fully customizable command line algorithmic trading bot that is programmable with a standard script.
Avorak AI has the potential to revolutionize many industries and its price is likely to see a significant surge once the project goes live in July. The Avorak AI (AVRK) token is currently selling at $0.180 in phase 4 of Avorak’s ICO. This is a 200% increase from its initial price, and it is expected to go higher with the rise and adoption of AI crypto. Also, with Avorak’s various ICO benefits, such as on-top bonuses (currently at 7%), it makes sense to buy AVRK tokens through the ICO.
The bottom line
Investors still have a chance to join the rapidly expanding AI crypto space in a simple and unique AI crypto project, at a relatively cheap price, through Avorak’s ICO. However, as an investor, it’s important to do your own research before making any investment.
To get more information on Avorak AI:
Website: https://avorak.ai
Buy AVRK: https://invest.avorak.ai/register
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US SEC is Now Targeting DeFi as it Reopens 2022’s Proposed Regulations
The U.S. Securities and Exchange Commission (SEC) is set to reconsider a 2022 proposal on Friday that seeks to broaden the definition of an “exchange.” This move comes in response to concerns from the cryptocurrency industry, which is apprehensive about being inadvertently caught in the regulatory net.
Securities Exchange Rules to Decentralized Finance Projects
The U.S. Securities and Exchange Commission (SEC) appears to be setting its sights on decentralized finance (DeFi) as it reconsiders a proposal from 2022 that could classify DeFi platforms as exchanges requiring regulation. Last year, the SEC proposed broadening the definition of “exchange” to encompass a wider range of trading activities in the U.S., highlighting a “regulatory disparity” as some entities engaging in trading activity were not regulated as exchanges.
The SEC reviewed comments from the crypto industry last year, which criticized the initial proposal as an overreaching power grab that lacked sufficient clarity to be considered legitimate. In response to this criticism, the commission will vote on Friday on an updated proposal. If approved, the revised proposal would employ more explicit language to encompass DeFi within the expanded definition of regulated exchanges, and it would outline estimates of the potential costs this change could impose on the industry.
SEC Chair Gary Gensler asserts that a majority of crypto platforms currently function as unregistered securities exchanges, regardless of any modifications to the definition of an exchange. However, Gensler and the commission are prepared to “underscore the relevance of existing regulations to platforms trading crypto asset securities, including those known as ‘DeFi’ systems,” as outlined in an SEC fact sheet detailing the proposed changes.
DeFi Platforms Can’t Defy Security Laws
SEC officials, addressing reporters ahead of Friday’s meeting, revealed that the reopening and supplementary information were prompted by market participants seeking further details on the proposed amendments and their application to crypto assets and DeFi.
According to SEC officials, the agency does not intend to define DeFi explicitly within the rule. Instead, it will assess each situation based on the activity conducted, including the presence of an intermediary and the specific services provided by that intermediary.
In his prepared remarks, Gensler reaffirmed his stance that “the vast majority of crypto tokens are securities” and that existing crypto trading platforms already fulfill the requirements for securities exchanges.
Gary Gensler commented:
“These platforms match orders of multiple buyers and sellers of crypto securities using established, non-discretionary methods. That’s the definition of an exchange – and today, most crypto trading platforms meet it. That’s the case regardless of whether they call themselves centralized or decentralized. Calling yourself a DeFi platform is not an excuse to defy the securities laws.”
The SEC’s initiative to clarify its stance on DeFi could suggest that the agency is currently investigating specific projects. However, the SEC refrains from commenting on ongoing investigations, and staff members did not identify any particular project during a press call.
Shiba Inu (SHIB) Price Prediction 2023, Experts Want You To Look At This DeFi Token For Bigger Profits
The crypto market is volatile, and predicting the future value of any cryptocurrency is challenging. However, analysts and investors use various tools and techniques to make predictions and projections based on past trends and current market conditions.
Shiba Inu (SHIB) is one such cryptocurrency that has gained popularity among investors due to its meme coin status and potential for high returns. In this article, we will discuss SHIB’s price prediction for 2023 and why experts believe that investors should also consider looking at RenQ Finance (RENQ) for bigger profits.
Shiba Inu (SHIB) Overview
Shiba Inu (SHIB) is an ERC-20 token that fuels the Shiba ecosystem, which comprises three separate tokens – SHIB, BONE, and LEASH. Users can stake, swap, or deposit these tokens into liquidity pools on the ShibaSwap decentralized exchange to earn interest and rewards.
SHIB has gained a loyal following of investors due to its cute charm and has attracted attention from personalities such as Elon Musk and Vitalik Buterin. However, like any other cryptocurrency, its value is subject to market volatility.
SHIB Price Prediction for 2023
Although predicting the future value of any cryptocurrency is challenging, various experts have made predictions for SHIB’s price in 2023. According to Wallet Investor, SHIB’s price is expected to reach $ 0.0782 by the end of 2023. The website predicts a steady rise in SHIB’s price throughout the year, with occasional dips and corrections.
Coin Price Forecast predicts that SHIB’s price could reach $0.1093 by December 2023, which is a bullish prediction based on current market trends. The website attributes this prediction to the growing popularity of meme coins and the increasing adoption of cryptocurrencies.
However, it is important to note that these predictions are not guaranteed, and the actual value of SHIB in 2023 could differ from these projections.
Looking Beyond SHIB
While SHIB has gained popularity among investors due to its meme coin status and potential for high returns, experts suggest that investors should also consider looking at RenQ Finance (RENQ) for bigger profits. RENQ is a decentralized finance (DeFi) platform that allows users to access various features and services, including staking, yield farming, and governance.
RENQ’s innovative approach to DeFi and its commitment to security and interoperability make it an attractive investment option for investors seeking long-term growth and stability in the cryptocurrency market. The token has a maximum supply of 1 billion tokens, and users can use RENQ to access the platform’s features and services.
In addition, RENQ’s price is expected to reach $1.5 by the end of 2023, which is a bullish prediction based on its potential for growth in the DeFi market.
Features of RenQ Finance
RenQ Finance is a decentralized finance (DeFi) platform that offers a wide range of features and services to its users. Here are some of the key features of RenQ Finance:
- Staking: RenQ Finance allows users to stake their RENQ tokens and earn rewards in return. Users can stake their RENQ tokens in different pools, and the rewards they earn depend on the length of time they stake their tokens and the number of tokens they stake.
- Yield farming: Yield farming is a popular DeFi feature that allows users to earn rewards by providing liquidity to a pool. RenQ Finance offers several yield farming opportunities, where users can earn rewards by providing liquidity to different pools on the platform.
- Governance: RenQ Finance has a robust governance system that allows token holders to participate in decision-making processes for the platform. Token holders can vote on proposals and help shape the direction of the platform.
- Collateral: RENQ tokens can be used as collateral for lending and borrowing on the platform. This allows users to access liquidity without having to sell their tokens.
- Interoperability: RenQ Finance is designed to be interoperable, meaning it can work seamlessly with different blockchain networks. This allows users to access DeFi services across different networks and increases the platform’s flexibility.
- Security: RenQ Finance places a high priority on security and has implemented various measures to ensure the safety of its users’ funds. These include using audited smart contracts, implementing multi-signature wallets, and partnering with reputable security firms.
Conclusion
SHIB’s price prediction for 2023 is optimistic, and various experts predict a rise in its value based on current market trends. However, investors should consider looking at other cryptocurrencies such as RENQ for bigger profits.
RENQ’s innovative approach to DeFi and its commitment to security and interoperability make it an attractive investment option for investors seeking long-term growth and stability in the cryptocurrency market. As always, it is crucial to conduct thorough research and analysis before making any investment decisions.
Click Here to Buy RenQ Finance (RENQ) Tokens.
Visit the links below for more information about RenQ Finance (RENQ):
Website: https://renq.io
Whitepaper: https://renq.io/whitepaper.pdf
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US Treasury Accuses DeFi Market For Facilitating Illicit Transfers By North Korean Hackers
The crypto market has recently attracted the attention of cybercriminals who are using these digital assets for illicit activities. In recent years, there has been an increase in the use of DeFi markets to launder illegal crypto money, and North Korean hackers are among the culprits. The US Treasury Department has pointed fingers at the DeFi market, which they say is being used by North Korean hackers for illicit transfers.
DeFi Market Threatens National Security
A recent report from the United States Treasury Department examining decentralized finance revealed that individuals from the Democratic People’s Republic of Korea, along with other fraudulent actors, can take advantage of vulnerabilities to conduct money laundering operations.
The U.S. Treasury’s “Illicit Finance Risk Assessment of Decentralized Finance” report, published on April 6, stated that several illicit groups from North Korea have profited from the non-compliance of some DeFi platforms with specific anti-money laundering (AML) and counter-terrorism financing (CFT) regulations. The report highlighted that inadequate AML/CFT measures and other weaknesses in DeFi services “facilitate the misappropriation of funds.”
Brian Nelson, Under Secretary of the Treasury for Terrorism and Financial Intelligence, commented:
“Illicit actors, including criminals, scammers, and North Korean cyber actors, are using DeFi services in the process of laundering illicit funds. Capturing the potential benefits associated with DeFi services requires addressing these risks.”
Decentralized Exchanges Lack Of AML Controls
The report observed that certain projects had actively promoted the absence of AML/CFT measures as a primary objective of decentralization, pointing out that individuals could frequently bypass sanctions imposed by the U.S. and the United Nations. Nonetheless, the Treasury emphasized that the majority of money laundering, terrorist financing, and proliferation financing took place through fiat currency or beyond the realm of digital assets.
Authorities suggested enhancing regulatory oversight of AML/CFT for platforms providing DeFi services, offering guidance to DeFi platforms concerning AML/CFT, and addressing any existing regulatory deficiencies. US Treasury notes:
“DeFi services at present often do not implement AML/CFT controls or other processes to identify customers, allowing layering of proceeds to take place instantaneously and pseudonymously, using long strings of alphanumeric characters rather than names or other personally identifying information.”
The evaluation was conducted following the executive order on digital assets signed by President Joe Biden in March 2022. With the execution of this order, numerous U.S. government agencies have initiated inquiries into the potential effects of various facets of the digital asset domain on the nation’s financial system and established payment infrastructure.
Polkadot (DOT) And RenQ Finance (RENQ) To Lead The DeFi revolution In The Coming Years, Study Shows
DeFi, or decentralized finance, has been one of the fastest-growing sectors in the cryptocurrency industry. It is a concept that aims to disrupt the traditional financial system by providing financial services in a decentralized and transparent way.
With the rise of DeFi, several cryptocurrencies have emerged as leaders in the space. Polkadot (DOT) and RenQ Finance (RENQ) have been identified as two of the top contenders to lead the DeFi revolution in the coming years, according to a recent study.
Polkadot (DOT)
Polkadot is a multi-chain platform that allows various blockchains to operate together. The platform aims to provide scalability and interoperability to the cryptocurrency industry. The Polkadot network consists of several parachains that can communicate with each other to process transactions quickly and efficiently. Polkadot has been gaining traction in the DeFi space due to its scalability and interoperability.
Polkadot has been successful in attracting developers to its platform due to its unique architecture. It offers a high degree of customization and flexibility, which allows developers to create blockchains that can interact with the main Polkadot network. This has led to a vibrant ecosystem of dApps and projects built on the Polkadot platform.
RenQ Finance (RENQ)
RenQ Finance is a DeFi platform that is focused on providing institutional-level liquidity to the DeFi market. It was launched in 2023 and has gained a lot of attention in the crypto space due to its unique features and its fast-growing presale. The platform has been oversubscribed in all three stages of the presale since its launch, and the fourth stage is currently ongoing, selling at $0.035, and has already raised over $4.5 million in a short period.
RenQ Finance aims to provide a solution to the problem of liquidity in the DeFi market. The platform achieves this by offering a decentralized exchange (DEX) aggregator that aggregates liquidity from different DEXs. This means that users can access liquidity from multiple DEXs through a single interface, which makes it easier to find the best prices and execute trades quickly.
RenQ Finance offers a range of DeFi services, including decentralized exchanges, yield farming, and liquidity provision. The platform is designed to be user-friendly, and it aims to make DeFi accessible to a wider audience. RenQ Finance has a unique revenue-sharing model that rewards users who hold its native token, RENQ.
RenQ Finance has also implemented a unique tokenomics model that incentivizes users to hold and stake its native token, RENQ. Staking RENQ provides users with a share of the platform’s transaction fees, which creates a passive income stream for users.
The platform has also passed a security audit by CertiK, a leading blockchain security company, which has boosted investor confidence in the project.
In conclusion, RenQ Finance’s innovative approach to solving the liquidity problem in the DeFi market, its cross-chain interoperability, and its unique tokenomics model make it an attractive investment option for investors looking for long-term growth in the crypto space.
Study Findings
A recent study conducted by a leading research firm has identified Polkadot (DOT) and RenQ Finance (RENQ) as two of the top contenders to lead the DeFi revolution in the coming years. The study analyzed several factors, including the adoption rate, market capitalization, and the level of innovation offered by different DeFi projects.
The study found that Polkadot’s multi-chain platform and its ability to provide scalability and interoperability were major factors that could contribute to its growth in the DeFi space. RenQ Finance’s unique revenue-sharing model and its user-friendly platform were also identified as factors that could lead to its success in the DeFi space.
The study also highlighted the importance of community support for DeFi projects. Polkadot and RenQ Finance have both built strong communities around their platforms, which has helped to drive adoption and innovation.
Click Here to Buy RenQ Finance (RENQ) Tokens.
Visit the links below for more information about RenQ Finance (RENQ):
Website: https://renq.io
Whitepaper: https://renq.io/whitepaper.pdf
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Shiba Inu (SHIB) and Polygon (MATIC) show positive signals, RenQ Finance (RENQ) excels above others in DeFi even though it’s just in its Presale.
The cryptocurrency market has seen some interesting developments recently, with Shiba Inu (SHIB) and Polygon (MATIC) showing positive signals.
Meanwhile, RenQ Finance (RENQ) is rapidly gaining popularity among investors due to its innovative DeFi platform, even though it is still in the presale phase. The relatively new RenQ Finance (RENQ) has already experienced a surge of 50% in its value and has raised over $3.6 million in its ongoing third presale stage, indicating significant demand.
Positive Signals for Shiba Inu (SHIB) and Polygon (MATIC)
Shiba Inu (SHIB) has been gaining popularity in the cryptocurrency market, thanks to its catchy name and meme-inspired marketing.
SHIB is an ERC-20 token on the Ethereum blockchain, with a total supply of over 1 quadrillion tokens. Despite its high supply, SHIB has been showing positive signals, with a recent surge in price. As of writing this article, SHIB is trading at $0.000010 with a 24-hour trading volume of $274,693,743 and a market capitalization of over $6 billion.
Another cryptocurrency that has been showing positive signals is Polygon (MATIC), an Ethereum-based Layer 2 scaling solution. MATIC has been gaining attention from investors due to its impressive performance and growing adoption in the DeFi space. As of writing this article, MATIC is trading at $1.06 with a 24-hour trading volume of $416,932,200 and a market capitalization of over $9 billion.
RenQ Finance (RENQ) Excels in DeFi
RenQ Finance (RENQ) is a relatively new player in the DeFi space, but it has already been making waves with its innovative platform. RenQ Finance aims to solve the liquidity problem by connecting isolated blockchains. Its comprehensive suite of DeFi tools offers solutions to the challenges faced by traditional finance systems. RENQ is still in its presale phase, but it has already raised over $3.6 million.
RENQ has been attracting a lot of attention from investors, thanks to its innovative features. Its CLOB model, which allows users to transparently match their orders on a “price-time-priority” basis, is a particularly useful component of its design.
RenQ Finance (RENQ) is quickly emerging as a top choice among both traditional and crypto traders, despite still being in its presale stage. With a current token price of $0.03 and an 80% full third presale stage, RenQ Finance has already seen a staggering 150% increase in value, making it an exciting investment opportunity for smart investors.
The success of RenQ Finance’s presale stages has been impressive. The first stage, which had a price of $0.02, raised over $1.5 million in just a few hours. The second stage, priced at $0.025, was even more successful, raising over $2.35 million in total investments. These results demonstrate the growing demand for RenQ Finance and its innovative DeFi platform.
Despite being in its early stages, RenQ Finance is expected to see a 50x return for token holders, with experts predicting a potential growth rate of over 5000%. Its unique features and focus on providing institutional-grade liquidity to the DeFi market have made it a favorite among investors, and its impressive performance thus far only adds to its appeal.
Conclusion
The cryptocurrency market is constantly evolving, with new players entering the space and established players competing for dominance.
Shiba Inu (SHIB) and Polygon (MATIC) have been showing positive signals, while RenQ Finance (RENQ) has been impressing investors with its innovative DeFi platform. It will be interesting to see how these projects develop in the coming months and how they contribute to the evolution of the cryptocurrency market.
Click Here to Buy RenQ Finance (RENQ) Tokens.
Visit the links below for more information about RenQ Finance (RENQ):
Website: https://renq.io
Whitepaper: https://renq.io/whitepaper.pdf
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DeFi Platform Maker DAO Takes Swift Action to Address $3.1B USDC Risk with Emergency Proposal
The crypto market has again met with another stablecoin collapse after UST as investors are rushing to withdraw their funds. Circle, the issuer of USD Coin (USDC), today announced that it faced challenges in withdrawing $3.3 billion from its $40 billion deposits at Silicon Valley Bank (SVB). As a result, it created panic among investors and brought subsequent sell-off, depegging the USDC from $1. The collapse of USDC has forced several firms to take quick action as DeFi platform Maker DAO recently filed an emergency proposal to prevent its DAI stablecoin from dropping further after being negatively impacted by USDC’s depeg.
Maker DAO’s DAI Stablecoin Becomes the Latest Victim After USDC
Maker DAO, the issuer of the DAI stablecoin pegged to the US dollar, has made an urgent executive proposal to address risks to its protocol. As per a forum post on March 11, the company expressed concern about its multiple collaterals being exposed to the “tail risk” of USDC due to the sudden de-pegging of the stablecoin that began today. Maker DAO currently holds over 3.1 billion USDC in collateral supporting its DAI stablecoin.
The proposed Maker DAO emergency plan involves several actions to mitigate risks to its protocol:
- It suggests reducing the debt ceiling of UNIV2USDCETH-A, UNIV2DAIUSDC-A, GUNIV3DAIUSDC1-A, and GUNIV3DAIUSDC2-A liquidity provider collaterals to zero DAI.
- The plan recommends lowering the daily minting limits of its USDC peg stability module from 950 million DAI to 250 million DAI and introducing a 1% fee to prevent the excessive dumping of USDC.
- The daily minting limit of the GUSD stablecoin module may also be reduced from 50 million DAI to 10 million DAI if the proposal is accepted.
Maker Aims to Eliminate Exposure to Curve and Aave
Maker DAO is considering entirely eliminating its exposure to decentralized finance protocols Curve and Aave. According to the company, Curve’s fixed $1 price for USDC presents a risk of insufficient debt accrual and potential bank runs, leading to market insolvency if the USDC’s market price drops significantly below the current collateral factor. Though Aave does not pose such risks, Maker DAO states that its overall risk-reward for depositing funds into the D3M is not advisable under current conditions.
The proposed emergency plan by Maker DAO also includes increasing the protocol’s debt ceiling for the Paxos-issued stablecoin, USDP. The ceiling would be raised from 450 million DAI to 1 billion DAI. The firm said,
“Paxos has relatively stronger reserve assets versus other available centralized stablecoins, consisting primarily of U.S. treasury bills, reverse repurchase agreements collateralized by U.S. treasury bonds. They face relatively lower potential for impairment versus other available stablecoins.”
The proposal has been put forth to the Maker DAO community for voting, and if accepted, it will be implemented immediately. The swift action taken by Maker DAO to address the USDC risk demonstrates its commitment to maintaining the stability of its protocol and ensuring the safety of its users’ funds.
Ample DeFi NeuroNet is a GEM in the field of decentralized finance
In the heyday of the crypto industry, there are more and more ways to generate passive income through investments.
We would like to present to you an effective and innovative solution that will bring stable passive income to the investor 24/7.
Ample NeuroNet system expands passive income opportunities for investors through cryptocurrency trading on DEX exchanges with the help of miner pools. Artificial intelligence instantly analyzes all kinds of trades on exchanges and finds the most optimal entry points for transactions.
The work of this network is based on the algorithm GPT (Generative Pre-trained Transformer), thanks to that the developers guarantee to the investors the highest fixed annual rewards in BNB, BUSD and USDT miners and the opportunity to earn up to 7.18% per day. The daily percentage depends on the mining pool selected. Users can also invest in multiple pools simultaneously in order to earn rewards in different tokens.
Reasons to trust Ample NeuroNet
The Ample NeuroNet platform has a number of factors that prove its prospects and reliability:
First, every Ample NeuroNet smart contract has been audited by the industry’s leading company Coinsult.
Second, there is an open team of talented developers behind the project, who have worked hard to build the neural network. The team members have undergone the KYC verification process at Novos, the results of which are presented on their website.
Third, thanks to artificial intelligence, the platform eliminates the human factor. The only necessary thing is to make a deposit. Then the neural network independently determines the most profitable trades and fixes profits in a non-stop mode. And the users can withdraw their rewards at any time without any commissions.
And fourth, there is no risk of losing the deposit. Only working capital, which consists of accumulated profits, is involved in trading operations.
All the social networks of the Ample DeFi NeuroNet project are listed here. Subscribe and follow the updates of the project:
Telegram: https://t.me/Ample_NeuroNet_Channel
Twitter: https://twitter.com/Ample_NeuroNet
Website: ample-ecosystem.com
Whitepaper: https://tokens-wallet.gitbook.io/ample-neuronet/
Mail: [email protected]
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Manage And Deploy Your Crypto Assets In DeFi
Crypto investors often seek to increase capital returns through decentralized yield opportunities, generating income from holding and lending digital assets. Through decentralized protocols, there is an added element of transparency and safety as users are always in control of their funds. This approach not only grows wealth but supports the digital asset ecosystem. This review explains the services offered by the DeFi platform Oasis.app in yield earning and lending.
How Does It Work?
Oasis.app allows users to generate Dai from their assets that are accepted by the Maker Protocol, or Maker-supported collateral. These assets are managed through smart contracts referred to as Maker Vaults, and Oasis Borrow is the user interface for interacting with them. To use Oasis, users must have a compatible Ethereum wallet, such as Metamask, WalletConnect, etc.
Oasis Automation Statistics, Accurate As Of 20.02.2023.
Oasis Borrow
Oasis Borrow allows users to borrow Dai against any collateral supported by the Maker protocol like ETH, WBTC, and 20+ more. With an intuitive and world-class UX that’s constantly evolving to suit users’ needs, the process to borrow Dai is seamless. Dai is a decentralized stablecoin pegged to the value of the US dollar, operating on Ethereum’s blockchain.
With Oasis.app, users can generate Dai by securing their crypto holdings as collateral. The Maker Protocol supports a wide range of cryptocurrencies, including ETH, WBTC, and twenty more, making it possible to use various crypto assets to borrow Dai. Oasis offers loans without a credit check.
Benefits:
Extra liquidity: Users gain access to extra liquidity, since Dai is a stablecoin this liquidity can be used for trading, spending or saving, all use cases are available.
Multiple collaterals: Different collateral types, rates and collateral ratios are suitable for multiple risk profiles.
Oracle security module: borrowers are protected from flash crashes by having prices update only once per hour.
Flexible repayment schedules: There are no repayment schedules, no minimum payments, and no credit history requirements. Users can repay at their own pace as long as their Vault is properly collateralized
Oasis Multiply
Oasis.app has introduced the Multiply feature, which lets users borrow Dai within the platform. This means that users can adjust their investment in a particular cryptocurrency without having to go through the hassle of multiple transactions or switching to another app. With the Multiply feature, users can conveniently increase holdings of the collateral crypto they use.
The Multiply feature offered by Oasis.app allows users to increase their exposure to a crypto asset in one transaction. By depositing approved collateral, such as ETH or wBTC, in a Vault, users can generate Dai which can then be used to purchase more collateral. With support for all Maker-supported crypto collateral types, users have the opportunity to take advantage of the rising trends in their chosen one.
Multiply is also available for Aave. Oasis Multiply for AAVE is a product that allows you to immediately utilize your borrowed USDC to buy more collateral within Oasis.app. The starting supported collaterals are the most demanded in the market, ETH, WBTC and stETH, and we will continue to add the best and safest AAVE supported collaterals.
To use the Multiply feature users must first open a Multiply Vault. In addition to the Multiply function, the Multiply Vault also offers the standard Borrow features, allowing users to deposit or withdraw either collateral or Dai to modify their position. Moreover, users can convert a standard Vault into a Multiply Vault, eliminating the need for additional collateral or Dai deposits.
With Oasis Multiply, users can multiply their exposure to a cryptocurrency by utilizing flash loans. For instance, if they choose wBTC as collateral, they can increase their wBTC exposure by up to 4.33x. This allows users to access Bitcoin through the form of an ERC-20 token, wBTC, to participate in DeFi applications. However, it’s important to remember that some risks are associated with flash loans and users should monitor their collateralization ratio to prevent liquidation.
With AAVE you can access higher multiples, and, since your collateral is available for borrowing, you will get yield on it. This yield will be counted against your borrowing rate. This means that in many cases your net borrowing cost will be lower compared to Maker. Each protocol has its own advantages, which you can review here.
Oasis Earn
With the G-Uni Multiply feature on Oasis.app, users can earn yields on their Dai deposits. Unlike standard borrow Vaults, G-Uni Vaults are designed for maximizing Uniswap V3 fees, so they don’t provide the option to generate Dai or withdraw collateral. Instead, the only options for the Vault are to deposit Dai and multiply it to the maximum possible amount, and then convert it back to Dai. The yield earned comes from the fees generated.
Fees
There is a fee for all services which operates as an interest rate. This fee, called the stability fee, is variable and changes for each type of Vault, as determined by the MKR token holders who oversee the protocol. These variable fees range from 0% to 4.5%, depending on the token.
Other fees include:
- Oasis Borrow: There are no fees for this feature. However, users will incur transaction gas costs in ETH.
- Oasis Multiply: Oasis.app charges a 0.2% fee, which must be paid in Dai, for this service. Additionally, users will pay transaction gas costs in ETH.
- Oasis Earn: For setting up a Vault, there is a 0.04% fee, which must be paid in Dai, and transaction gas costs must be paid in ETH.
- Oasis Stop-Loss: To close a Vault, there is a 0.2% fee, which must be paid in Dai, and transaction gas costs must be paid in ETH. Additionally, there will be a transaction gas cost in Dai when protection is triggered.
The only withdrawal fees are the transaction gas fees, which include a network fee and a flat fee to the platform.
Cryptocurrencies
The cryptocurrencies supported by Oasis.app includes:
- Dai (DAI)
- Ethereum (ETH)
- Lido’s Wrapped Staked ETH (wstETH)
- Chainlink (LINK)
- Decentraland (MANA)
- Polygon (MATIC)
- Wrapped Bitcoin (wBTC)
- Ren Bitcoin (renBTC)
- Gemini Dollar (GUSD)
- Yearn Finance Governance Token (YFI)
- Uniswap Governance Token (UNI)
- Uniswap Liquidity Provider Tokens (UNI LP)
- Curve Liquidity Provider Tokens (CRV LP)
- 10+ other cryptocurrencies
Conclusion
Oasis.app provides its users with a wealth of information through its in-platform knowledge base. If users still have questions, they can reach out to the Oasis.app team through the email contact form or through their active presence on social media. The platform also regularly updates its blog with news, new features, and other relevant information. They have plans for additional features and are a solid choice for those wanting to deploy digital assets.
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Why AlienFi Is Poised to Take Over the DeFi Landscape in 2023?
You may exchange for your daily coins on a variety of different sites, which is convenient. One such example is AlienFi. You may make all of your investments at one location, and it is also quite convenient to utilize. This contributes to the coin having higher performance overall. So, on the whole, it presents an improved chance for all investors. Trading costs are relatively inexpensive, and the system is straightforward to control.
What is Alienfi?
Arbitrum Chain has announced the launch of AlienFi, a decentralized exchange (DEX), that offers rapid, secure, and low-cost token trading with complete transparency and complete management of your cash.
With its attractive and user-friendly interface, AlienFi makes trading DeFi assets simple for consumers. Users can quickly, cheaply, and securely keep complete control over their cash thanks to AlienFi, which takes away their vulnerability to theft and hacking. New investors may feel at ease and assured since AlienFi brings a new level of efficiency and trust to the DeFi industry that has never been seen before.
Interesting Alienfi features
Alienfi offers two unique staking methods that makes this DEX platform more attractive for all investors. The term “staking” is often used when discussing cryptocurrencies in the context of DEX (decentralized exchange), and it refers to the practice of storing cryptocurrency assets in a wallet in order to maintain the network and verify transactions, in exchange for receiving rewards or fees.
Users have the potential to earn a return on their cryptocurrency holdings via the practice of staking, which also allows them to make a contribution toward the maintenance of the decentralized exchange network. Before making the decision to stake their assets, users should make sure they have done their homework and have a solid understanding of the potential benefits and drawbacks of doing so. Some of the risks associated with staking include the possibility of temporary loss as well as potential security flaws.
Alienfi Farms
When you stake your liquidity provider (LP) tokens in the Yield Farms, you have the option to receive rewards. This opportunity is provided by LP Farms, which is another name for Yield Farming. The APR of the Yield Farm in which you are investing will determine the incentives that are allocated to you.
AlienFi Yield Farms are a kind of user incentive that are aimed to encourage users to generate liquidity for the token’s pairs of their choice. When an investor contributes liquidity to the system, they are rewarded with LP tokens as a receipt for their contribution. Trading fees for that particular pair are earned by holding those LP tokens, and investors may stake those LP tokens in AlienFi Yield Farms to earn more $ALIEN tokens in addition to the trading fee they get.
AlienFi Pools
You may earn more $ALIEN tokens by staking existing tokens in staking pools. The prize token might be $ALIEN or it could be any other partner’s token; this is determined by the pool in which you are participating. Staking is a straightforward and convenient method for increasing the amount of money you get from your $ALIEN tokens, regardless of how you obtained those tokens: by yield farming or by purchasing them.
The customizable staking feature offered by AlienFi enables users to earn rewards by staking their $ALIEN tokens in a range of different pools, each of which presents a unique combination of risk and potential gain. There are no lock-up periods, so users may choose to stake for as long or as short a period of time as they choose.
Those who desire a more organized and predictable investing approach may take advantage of the time lock staking pools that are available via AlienFi. The users of these pools have the option of locking their tokens for a certain amount of time in return for a fixed yearly percentage income (APY).
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Filecoin (FIL) and Orbeon Protocol (ORBN) Hailed As Utility Leaders In The DeFi Space
In the world of decentralized finance, Filecoin (FIL) and Orbeon Protocol (ORBN) are emerging as utility leaders with unique value propositions. Filecoin (FIL), a decentralized network, incentivizes users to share their unused storage space, providing a more cost-effective and secure way to store data.
On the other hand, Orbeon Protocol (ORBN) is taking a unique approach to investment by identifying successful firms searching for funding rounds, minting an NFT for each one, fractionalizing it and backing it with actual stock in the company. The Orbeon Protocol (ORBN) native token price has increased by about 1815% since its initial price of $0.004. These two projects are worth watching in the DeFi space.
Filecoin (FIL) Set To Capitalize On The Evergrowing Need For Privacy
Filecoin (FIL) is a decentralized cloud storage network that allows users to store and retrieve data securely through a peer-to-peer network. Filecoin (FIL) is a one-of-a-kind coin that encourages the sharing of spare storage space on individual devices, resulting in the creation of a decentralized storage ecosystem.
The benefit of Filecoin (FIL) resides in its capacity to address some of the most urgent issues with existing cloud storage options. Centralized storage solutions can be costly, prone to data breaches and unavailability, and may be inaccessible to users in specific geographic areas.
Filecoin (FIL) seeks to address these issues by establishing a decentralized, secure and cost-effective network that compensates users for adding to the network’s storage space.
The unique selling point of Filecoin (FIL) is its potential to provide a one-of-a-kind solution to the constantly expanding demand for safe and dependable cloud storage. Filecoin (FIL) provides a more cost-effective and secure data storage method and can potentially alter how we think about data storage by utilizing a decentralized network of Filecoin (FIL) nodes.
The potential of success for Filecoin (FIL) is huge, given the ongoing expansion of data and the rising demand for safe and dependable storage solutions to which Filecoin (FIL) caters.
Orbeon Protocol (ORBN) Is Using Blockchain Technology To Revolutionize Crowdfunding
Orbeon Protocol (ORBN) is developing a game-changing investment platform that will seek out viable enterprises needing capital, mint an NFT, fractionalize it and back it up with real-world stock in the company.
Effectively, purchasing the partial NFT that Orbeon Protocol (ORBN) offers entails purchasing stock in the startup. Orbeon Protocol (ORBN) will enable startups to reach their financial targets faster and engage with their audience more effectively through the Orbeon Protocol (ORBN) ecosystem.
To accelerate and broaden their fundraising efforts, businesses can use Orbeon Protocol (ORBN) to raise funds directly from their communities through equity-based NFTs and prizes. Users can invest in companies with as low as one dollar using fractionalized NFTs.
To keep investors safe, Orbeon Protocol (ORBN) developed a technique known as “Fill or Kill.” If an investor invests in a company that fails to meet its financing objectives, this feature will immediately repay them.
The eighth presale stage of Orbeon Protocol (ORBN) is now underway, with the price of ORBN native tokens at $0.0766. Orbeon Protocol (ORBN) began at $0.004 and has now increased by more than 1815%. Analysts predict a 6000% spike in the price of Orbeon Protocol (ORBN) over the following few months when it becomes available on major exchanges. Solid Proof has also audited Orbeon Protocol (ORBN).
Find Out More About The Orbeon Protocol Presale
Website: https://orbeonprotocol.com/
Presale: https://presale.orbeonprotocol.com/register
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Matic Surges In Price As Polygon’s DeFi TVL Hits $1.44 Billion
The Polygon DeFi ecosystem has been making waves in the cryptocurrency world, with its total value locked (TVL) hitting $1.44 billion. This impressive milestone has been largely driven by the surge in the value of the Matic token, which has seen unprecedented growth in recent months.
Recently, the Polygon network has also seen a 90-day high NFT trading volume on OpenSea, reaching $12 million in just one day. Furthermore, the network has launched its highly anticipated ZkEVM, a production-ready zk-rollup solution for Ethereum.
One of the main factors driving the growth of Polygon’s DeFi ecosystem is the increasing demand for low-cost, fast, and secure transactions. DeFi has been one of the hottest trends in cryptocurrency, with more and more people looking to participate in decentralized financial applications.
Covo, a Leverage Trading Platform on Polygon, Surges 80% This Week
The Matic price has been experiencing significant growth in recent weeks, with many tokens built on Polygon also seeing significant price increases. According to crypto price trackers, Matic has increased over 20% in the past 30 days. Covo Token, the native utility and governance token of COVO Finance, a Leverage Trading Platform built on Polygon, has also seen its value surge by 80% in recent weeks, attracting the attention of the MATIC’s community.
COVO Finance is a decentralized spot and perpetual exchange that enables users to trade popular cryptocurrencies such as BTC, ETH, MATIC, and others directly from their cryptocurrency wallets. The platform offers a better trading experience with low swap fees, zero-price impact trades, and the ability to trade perpetual futures with up to 50x leverage, similar to how it’s done on centralized exchanges. However, users keep custody of their assets using a cryptocurrency wallet, unlike centralized exchanges.
The Covo Token is the native utility and governance token of COVO Finance. Token holders can use it to vote on proposals to help decide the exchange’s future direction. Staking Covo Tokens provides several rewards, including 30% of all generated protocol fees, esCovo tokens, and Multiplier Points. The fees are collected from market making, swap fees, and leverage trading and are paid in MATIC. The esCovo tokens can be either staked for rewards or vested, and the Multiplier Points boost the yield and reward long-term holders without contributing to token inflation.
Polygon Launches Zero-Knowledge Proofs for Smart Contracts Execution
The launch of the recent ZkEVM is considered to be a significant milestone for the Polygon network. At the time of writing, MATIC was trading at $1.18 with a market cap of $10B. The ZkEVM provides a fast, secure, cost-effective solution for executing smart contracts on the Ethereum network. The solution leverages the power of zero-knowledge proofs to provide a high level of security without sacrificing speed or efficiency. According to a developer tweet, the ZkEVM prover’s results have been awe-inspiring, with batch proofs of 2:30 minutes and the ability to handle ~500 or ~250 ERC20 transactions per batch. The prover cost is $0.064 per proof ($0.0001 per transaction), making it the fastest and most affordable ZK technology.
The launch of the ZkEVM is a major step forward for the Polygon network and is expected to drive significant growth and adoption. The ZkEVM offers a fast, secure, and cost-effective solution that is well-suited for decentralized applications and DeFi platforms. The solution provides a much-needed alternative to the Ethereum network, which needs to improve with high gas fees and slow transaction times.
The Polygon network is doing incredibly well, with the launch of its ZkEVM and the surge in NFT trading volume on OpenSea due to Reddit collectibles. Polygon and its native token MATIC are well-positioned to capture the growing demand for fast, secure, and cost-effective solutions in the blockchain and cryptocurrency world. With its commitment to innovation and progress, the Polygon network is a promising investment opportunity for those looking to participate in the growth of the blockchain and cryptocurrency markets.
Is DeFi in Trouble? Largest Crypto Staker Lido Sounds Alarm After SEC’s Kraken Crackdown
Lido Finance, one of the largest liquid staking programs with over 5 million staked Ethers, has issued uncertainty concerns on the status of Decentralized Financial ecosystems (DeFi) following last week’s $30 million settlement of Kraken exchange with the U.S SEC.
SEC chair Garry Gensler argued that crypto companies offering staking programs have to register for a securities sale clearance. While advocating for more disclosure from crypto staking programs, Gensler is likely to be coming for more companies including Coinbase Global Inc., and Lido Finance.
Lido DAO (LDO) Market Outlook
The Ethereum (ETH) ecosystem is yet to allow withdrawals of staked ethers until the Shanghai upgrade. Meanwhile, Lido Finance continues to offer Ethereum stakers with alternative tokens dubbed Lido Staked Ether (stETH) pegged 1:1 to the ethers. While the company is facing policy uncertainty with other DeFi projects, its future growth prospects are capped. Moreover, Eth stakers will not need to use liquidity staking programs after the Shanghai upgrade.
Nonetheless, the next move from the SEC on staking programs will significantly alter the future outlook for most DeFi protocols.
“I have been getting a lot more questions about ‘does this impact Lido, what are your thoughts on this?” said Jacob Blish, head of business development at the decentralized autonomous organization, or DAO, that manages Lido Finance. “I personally think this is a net benefit for on-chain permissionless liquid staking or staking providers, but it really depends on what the final resolution is.”
If the US regulators eventually conclude that no US individual can interact with any staking services at all, then “we have a different problem,” Blish added. Moreover, the United States controls 25 percent of the global market activity.
Hotly Anticipated RenQ Finance Token Presale Launched. Could Be The Next Big DeFi Trend – Experts Predict
The hype surrounding the RenQ Finance Token is traceable to the phrase “RENQ is a unified platform to a Decentralized World”; for a project to generate so much hype around it, there must be a unique factor that sets it apart.
Coming from a time where centralized finance systems dominated the financial space, we evolved to the early days of DeFi, which was a significant upgrade to the former system in many ways, including the swiftness of transactions, P2P transactions with no third-party monitoring, etc.
Despite this, the early DeFi projects had limitations that hindered smooth financial transactions. They had some level of censorship, which goes against the decentralized ideals of DeFi. Additionally, there was no way to transfer value or conduct transactions between different DeFi projects due to differences in their underlying technology, such as blockchain networks, developer teams, smart contract protocols, etc.
These limitations hinder DeFi services; RenQ Finance comes as a solution to these problems, thereby earning the tag “a unified platform to a Decentralized world” and becoming the highly anticipated token of the moment since it is believed that it would drive up the adoption of Digital Currencies and DeFi services globally while giving the users an experience that trumps centralized finance systems as well as early DeFi projects.
More About RenQ Finance
RenQ Finance is a revolution in the DeFi industry; the platform is characterized by being a bridge between different blockchain networks while ensuring that the swiftness of transactions is not compromised and the security of the platform is not breached.
The issue of “liquidity” faced by single-solution networks where users are restricted to the value (funds) within the ecosystem is resolved by RenQ Finance. It does this by building a cross-chain asset exchange network that bridges different chains, providing users in the ecosystem access to a large pool of resources.
The platform’s in-wallet feature is secured by an additional layer of security with two-factor authentication (2FA) to ensure the security key (users’ wallet seed phrases) is protected.
RenQ Finance promotes the tenets of DeFi by maintaining transparency, anonymity, and ownership: transactions are public on the blockchain, and the identity or KYC of users is not needed to access the platform. Also, unlike the centralized exchanges where users don’t have full ownership of their wallet’s funds, RenQ Finance ensures decentralization as users own full custody of assets in their wallet.
RenQ Finance operates as a decentralized platform where governance is not controlled by a small group of individuals. Its governance protocol aligns with the team’s goal of making RenQ Finance a community-driven organization. Decisions are made by all active members of the community, which is defined as those with stakes in the liquidity pool and holders of the native token, $RENQ. All members of the community can offer suggestions and provide their opinions about the token.
This focus on the well-being of its members sets RenQ Finance apart from other projects.
The main objective of RenQ Finance is to provide a comprehensive solution that is accessible to both new traders and experienced professionals.
In the past, new users were often forced to use centralized exchanges due to their ease of use, but at the cost of censorship. With RENQ’s solution, new users can now enjoy the same ease of access as centralized exchanges in a decentralized system, without the risk of censorship.
Experts only recommend the best.
Experts predict that the numerous benefits and innovations offered by the RenQ Finance team will make it the next big trend in DeFi. They believe that RENQ will pave the way for other similar projects on the platform.
RENQ is expected to endure and stand out, increasing the public’s trust in DeFi services. As the world seeks a better alternative to traditional finance and has lost trust in the current system, RenQ Finance is seen as the next big wave in the DeFi space, deserving of all the hype it receives.
Presale
The RenQ Finance token, $RENQ, is currently available during its presale stage. Investors and members of the public can take advantage of this opportunity to join the community, with the promise of a profitable and satisfying experience.
Click now to participate in the Presale.
XDC Network Integrates Fathom Protocol Sustainable Liquidity in DeFi
The integration of the Fathom protocol with XDC Network will provide a safe and highly liquid environment for digital assets for institutional and retail investors. This integration’s primary objective is to provide investors with a sustainable, secure, and efficient DeFi experience on the XDC Network using the Fathom platform.
Fathom emerges as the potential lending and borrowing platform based on the XDC Network. Also, Fathom confers a variable yet sustainable, the high yield for making contributions to liquidity pools using liquid staking and a borrowed interest APR as the basis. As a part of this integration, Fathom offers features such as collateralization with XDC and institutional digital assets, borrowing FXD, and collateral withdrawals to its users.
Markedly, the Fathom protocol includes the over-collateralized stablecoin FXD, as well as an ecosystem that contains a DEX, DAO, and RWA tokenization. The co-founders affirmed that the governance token FTHM will soon be launched.
Manuel Rensink, the Co-founder of Fathom Protocol stated:
Fathom’s price-stable currency, FXD, is over-collateralized with XDC and other DAO-approved tokens. This provides security tokens with exposure to real-world assets issued by institutional XDC network participants. To obtain FXD, the user must first provide XDC collateral before lending FXD against it.
By utilizing proof-of-stake (PoS) rewards, liquid staking, and yield-bearing RWA, Fathom seeks to establish its native stablecoin FXD as a distinctive decentralized protocol currency. When compared with other DeFi protocols such as MakerDAO, Fathom Protocol attempts to stand out by its efficiency, scalability, and sustainability. Moreover, Fathom’s stablecoin, FXD, is distinct from other stablecoins as it is over-collateralized with XDC.
Is There a Future For RING FINANCIAL And Other DEFI Protocols?
Financial technology (FinTech) is rapidly changing the way people access and manage their money. The rise of digital currency and decentralized finance (DeFi) protocols has opened up new possibilities for users to manage and invest their money. One of the most popular DeFi protocols is RING Financial, which recently gained attention in the crypto community, but unfortunately ended up crashing.
In this blog article, we will explore RING Financial and other DeFi protocols and discuss their potential for the future. By the end of this article, you should have a better understanding whether or not if RING Financial was a scam or not, including the potential of other DeFi Protocols.
What Is Decentralized Finance (DeFi) and How Does It Work?
DeFi or Decentralized Finance is an emerging sector in the cryptocurrency market. It is a revolutionary way of financing and trading digital assets without the need for a third party like banks or brokers. DeFi has gained immense popularity in recent years as it offers a secure, transparent, and decentralized way of trading and investing in cryptocurrencies.
DeFi is a form of financial services that are offered on the blockchain. It utilizes smart contracts and other crypto-based technologies to provide a secure and trustless environment for users to participate in various financial activities. This includes trading of tokens, lending, borrowing, and investing. With DeFi, users can access a variety of financial services without the need for a third party like banks or brokers.
DeFi is also believed to be the solution to many of the scams and frauds that have been prevalent in the cryptocurrency industry. By leveraging the trustless and secure nature of blockchain networks, DeFi offers a secure and reliable way of trading and investing in cryptocurrencies.
But it should be noted that not all DeFi’s are secure and some of them have failed. This is the case for RING Financial
Failure of RING Financial (RING Financial scam): What is it about?
The decentralized finance (DeFi) protocol RING Financial was used. The protocol’s goal was to give users access to several aggregated DeFi protocols. The RING Financial Token, the protocol’s native token, was constructed on Binance Smart Chain.
RING aims to enhance the field of passive income generation through innovation. In order to make DeFi accessible to everyone, RING Financial is developing a multi-chain Yield Processing Node. Sadly, numerous hacking efforts led to the platform collapsing.
RING Financial was one of the most promising DeFi’s, but hackers leaked the Smart contract and emptied the liquidity pool which lead to 80% drain of the funds..
Is there a Future for DeFi Protocols?
DeFi is a revolutionary concept in the cryptocurrency market that has opened up a world of opportunities for token holders. It has enabled users to access a variety of financial services without the need for a third party. Furthermore, DeFi has made it possible for users to trade and invest in cryptocurrencies with a greater level of confidence and security. Therefore, DeFi is quickly becoming the preferred choice for noders.
However, after the failure of some DeFi’s as RING Financial and GetGems (GEMZ) which were considered very promising, token holders are now very sharp on their choice. The consequence is that in the next few years, there might be a lack of token holders in DeFi if we continue to see consecutive failures.
Are DeFi scams ?
We can’t directly say that DeFi are scams. Because, as we saw earlier in this article, they have several advantages.
However, there are DeFi’s that are scams and well-organized frauds. DeFi scams include rug pulls, honeypots, phishing attacks, fake Google ads, exploits and vulnerabilities, and scam airdrops. It’s important to be aware of these scams and take steps to protect yourself, such as researching the project or token thoroughly and verifying the smart contract code. Additionally, be aware of the potential for fake celebrity endorsements, and remember that if something appears too good to be true, it probably is.
Tips for Investing in DeFi Protocols
When investing in DeFi protocols, it is important to keep the following tips in mind:
- Do your own research: Make sure that you understand the risks associated with investing in any DeFi protocol before investing.
- Diversify your investments: Don’t put all your eggs in one basket. Diversify your investments to minimize risk.
- Only invest money you are willing to lose: DeFi protocols are highly volatile, and your investments could go up or down. Make sure that you only invest money that you are willing to lose.
- Monitor the market: Make sure to monitor the market and watch out for any changes or developments.
To recap, there are a number of pros and cons to investing in DeFi protocols. The main pros are that they are secure, trustless, and transparent, and they offer users a range of features and incentives. The main cons are that they are highly volatile and may be subject to hacks or scams.
It is also important to diversify your investments and to only invest money that you are willing to lose.
The Future of DeFi Protocols – Points to keep in mind
The popularity of DeFi and other cryptocurrencies has grown significantly over the past year and is expected to continue to do so. This is because it provides a way for people to access financial services that are not available in traditional banking systems. It also provides a secure and transparent way to store and access funds, which is especially important for those who are concerned about the security of their money.
DeFi is changing the way we think about money and finance, and it is quickly becoming a popular form of investment. As more people become aware of the potential of DeFi and cryptocurrencies, there is sure to be an increase in the number of people who are looking to capitalize on the new opportunities that DeFi provides.
However, it is important to understand the risks associated with investing in any DeFi protocol before investing.
However, the platform had experienced some security problems, which led to a series of attacks. Hackers took advantage of this flaw to scam and commit fraud in the name of RINGFinancial. New projects are being set up with all the necessary security measures.
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