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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Uniswap (UNI), PancakeSwap (CAKE) And Orbeon Protocol (ORBN) Push The Boundaries Of DeFi Technology
DeFi technology is just scraping the surface of its overall potential. In less than a decade, it’s been applied to a number of industries including gaming, finance and data storage, with more applications being created every year.
Three projects that are pushing the boundaries of DeFi are Uniswap (UNI), PancakeSwap (CAKE) and Orbeon Protocol (ORBN) all of which are projected to increase in value throughout 2023.
Uniswap (UNI) Price Increases Following Market Growth
Uniswap (UNI) is one of the world’s most popular decentralized crypto exchanges, best known for its limited fees. Through Uniswap (UNI), investors can trade ERC20 tokens without needing a central body, making transactions anonymous.
In May 2021, Uniswap (UNI) launched its most ambitious update yet, Uniswap (UNI) V3. Uniswap (UNI) V3 offers a number of features including a tiered fee system, concentrated liquidity, and liquidity pools with up to 4000x more capital efficiency than Uniswap (UNI) V2.
The value of Uniswap’s (UNI) token UNI has increased by 26.66% throughout January, with one UNI token now worth $6.54, its highest price since November 2022. Investors are optimistic for Uniswap’s (UNI) price increases, with many believing it will play an important role in the future of DeFi.
PancakeSwap (CAKE) Holders Optimistic for 2023
PancakeSwap (CAKE) is one of the few decentralized exchanges that can rival Uniswap (UNI), and lets users trade crypto without needing to pass KYC compliance. Through PancakeSwap (CAKE), investors can buy BEP-20 cryptocurrencies, trade NFTs and stake cryptocurrencies, including CAKE.
After releasing PancakeSwap (CAKE) V2, PancakeSwap (CAKE) solidified itself as a top decentralized exchange, with thousands of investors using it daily to make transactions. Throughout January, PancakeSwap’s (CAKE) native token CAKE increased in value by 23.89% and is currently valued at $3.94. Many investors believe this could increase throughout 2023 with additional PancakeSwap (CAKE) upgrades being planned for later in the year.
Orbeon Protocol (ORBN) Pushes DeFi To New Waters
Orbeon Protocol (ORBN) is pushing the boundaries of DeFi technology with its startup launchpad. Orbeon Protocol (ORBN) is designed to help new businesses raise funds without relying on a venture capitalist. Instead, they can create and sell fractionalized NFTs that represent equity in their business.
This lets them raise funds from a smaller pool of investors and thus diversify risk. To keep investors safe when using the platform, Orbeon Protocol (ORBN) has implemented a “Fill or Kill” feature, that automatically refunds investors if a startups funding targets are missed. To further this, all startups must pass a strict vetting process.
Safety also plays an important role in Orbeon Protocol’s (ORBN) foundation. Orbeon Protocol’s (ORBN) smart contract has been successfully vetted by Solid Proof and ORBN token liquidity has been locked for ten years.
Currently in the fifth stage of its presale, Orbeon Protocol’s (ORBN) native token ORBN has increased from $0.004 to $0.06 in just three months, with an additional price increase expected before the end of January.
Investors who buy and hold ORBN tokens will be granted rewards such as staking bonuses to build a passive income, early access to funding rounds and governance rights to vote on the future of Orbeon Protocol (ORBN).
Find Out More About The Orbeon Protocol Presale
Website: https://orbeonprotocol.com/
Presale: https://presale.orbeonprotocol.com/register
Telegram: https://t.me/OrbeonProtocol
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Lark Davis’ Top DeFi Picks: Keep An Eye Out For These Upcoming Improvements & Catalysts
The blockchain industry is about to see the arrival of several significant DeFi improvements and catalysts in the near future.
Lark Davis, a crypto expert, outlines the most significant ones to keep an eye out for. Let’s explore.
Curve Finance: Curve Finance, which is the largest stable swap protocol and the fourth largest DeFi network, is launching its own stablecoin called CRVUSD. This coin has the potential to offer new revenue to holders of CRV, so it’s definitely worth looking out for.
Shibarium: Next on his list is Shiba Inu’s eagerly awaited Shibarium, a Layer 2 blockchain that has the goals of accelerating transaction times and reducing transaction costs in order to facilitate the expansion of the Shiba Inu ecosystem.
Aave: is all set to deploy its V protocol, which is anticipated to provide more efficiency, decreased gas prices, improved layer two support, and simpler cross-chain liquidity to the platform.
Synthetix (SNX): is releasing its V3 governance module. According to reports, the newly added module would make it simpler for the network to make governance choices with a reduced number of personnel. This is a reaction to difficulties with voting that Synthetix has encountered in the past.
Woo X: The exchange is working on implementing perpetual swaps, has burned a significant amount of tokens and is researching other tokenomics models.
GMX: Last but not least, GMX is mulling an expansion to BNB Chain, which would be its third expansion after Abriturm and AVAX respectively. It has already presented a plan that details the manner in which it intends to integrate the platform with BNB.
Because the cryptocurrency industry is in a state of perpetual flux, it is quite expected that new technologies and applications will be developed in the near future. These advancements could alter the way we think about and interact with the blockchain.
Cardano Ecosystem Expands with Custom-Built Sidechains, Aptos DeFi Introduces Parallel Processing, and Snowfall Protocol Unveils First Asset Transfer Protocol
Recent developments in the crypto space include three blockchain projects that have made significant announcements, which have caught the attention of the community. Cardano (ADA) announced the release of a software toolkit that enables developers to deploy custom-built sidechains on the Cardano (ADA) ecosystem. Aptos (APT) announced that a lot of innovation is coming to the blockchain project in 2023, with a focus on decentralized finance (DeFi) and parallel transaction processing. Lastly, Snowfall Protocol (SNW) unveiled a revolutionary asset transfer protocol for EVM-compatible and non-compatible chains, which aims to improve interoperability and inclusivity in the DeFi ecosystem.
Cardano’s (ADA) sidechain expansion may not be enough to revive its value
The Cardano (ADA) ecosystem’s expansion with custom-built sidechains is an exciting development for the community, as it aims to improve the ecosystem. However, it should be noted that the success of these sidechains is dependent on the adoption and usage by developers and projects. Additionally, there is the potential for increased competition within the Cardano (ADA) ecosystem as more projects and applications are developed on these sidechains. The current value of Cardano is $0.32 per ADA. Cardano’s (ADA) current price is 89.63% lower than its all-time high of $3.10.
Aptos (APT) token plummets 48.68% below all-time high despite parallel processing announcement
Aptos (APT) has announced that it will be introducing parallel processing and advanced features for enhanced user experience in the DeFi space. This is a positive development for the project, as it aims to improve the scalability and efficiency of its DeFi offerings. It is important to keep in mind that the effectiveness of these developments depends on the acceptance and utilization by projects and participants in the DeFi sector.
Additionally, the current market conditions have not been favourable for Aptos (APT), with the token experiencing a decline in value. The current value of Aptos (APT) is $7.04. The highest value that Aptos (APT) has ever reached was $13.73, on October 19, 2022. Aptos’ (APT) current price is 48.68% less than its all-time high.
Snowfall Protocol (SNW) price surges to $0.182, fueled by growing interest and confidence
In contrast to Cardano (ADA) and Aptos (APT), the recent price surge of Snowfall Protocol (SNW) to $0.182 is a testament to the growing interest and confidence in the project. The innovative cross-chain transfer protocol for fungible and non-fungible tokens has been gaining traction among crypto enthusiasts and investors, who recognize its potential to revolutionize the DeFi ecosystem. Snowfall Protocol’s (SNW) unique features, such as the canonical bridge and reverse swap mechanism, allow for seamless and hassle-free transfer of assets between different blockchain networks, making it an attractive option for projects and users looking to expand their reach across multiple chains.
Additionally, the protocol’s vibrant ecosystem economy, powered by Snowfall Protocol’s native token, (SNW), further enhances its appeal by allowing holders to earn staking rewards and gain voting rights within the protocol. The price surge can also be attributed to the increased demand for DeFi projects that provide solutions to the current limitations of interoperability and inclusivity in the space. The ability of Snowfall Protocol (SNW) to bridge the gap between different blockchain networks and provide easy communication between them is a much-needed solution for the DeFi landscape.
Conclusion
While Cardano (ADA) and Aptos (APT) have made announcements that aim to improve their ecosystems, Snowfall Protocol (SNW) has made groundbreaking progress with its asset transfer protocol. It’s an exciting time for the crypto community as Snowfall Protocol (SNW) aims to improve interoperability and inclusivity in the DeFi ecosystem. It is worth keeping an eye on Snowfall Protocol (SNW) as it aims to be the future of cross-chain transfer.
Get in while you can and invest in Snowfall Protocol (SNW) today!!!
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Lido Finance (LDO) Now Has Highest TVL in Defi
The post Lido Finance (LDO) Now Has Highest TVL in Defi appeared first on Coinpedia Fintech News
As per Nansen data in December, Ether staking solutions were in high demand as Ethereum shifted to a proof-of-stake mechanism. Lido Finance, a Liquid staking protocol, seems to be strengthened with the Ethereum merge with its total value locked (TVL) now hitting the top position in the Defi. As per Defi lama Data, Lido Finance now has $5.9 billion in TVL surpassing MakerDAO’s $5.89 billion and AAVE’s $3.7 billion.
According to Lido Finance’s website, the platform has $5.8 billion Ether staked. Meanwhile, there was around $43.9 million in Polygon, a $23.2 million stake in Solana, $11 million in Polkadot, and $2.2 million in Kusama.
Solana Defi Exchange Hacked, Cardano Rejected By Paxful Founder While Snowfall Protocol Grows 250%
Cryptocurrencies are gaining increasing attention due to their potential to revolutionise the way transactions are conducted.
Snowfall Protocol (SNW) is a new cryptocurrency that boasts superior features over other popular cryptocurrencies like Cardano (ADA) and Solana (SOL). In this article, we are talking about what makes Snowfall Protocol (SNW) a better choice than Cardano (ADA) and Solana (SOL).
Solana (SOL) declines after major hack
Solana (SOL) has experienced a serious hack on one of its largest DeFi protocols, adding to the difficulties the network has had in recovering from the debilitating harm caused by the shocking collapse of one of its most important backers, FTX. On Friday, the Solana DeFi protocol, Raydium, revealed that a hacker had gained “owner authority” and was draining the company’s liquidity reserves. The hacker stole $1.6 million in Solana (SOL).
Consequently, Solana’s (SOL) cost has dropped by 7.72% over the past week, and by over 18% this month. This is not the first time Solana (SOL) was exposed to a hack this year. The consistent security breaches could mean there isn’t much security backing Solana (SOL). Therefore, investors are flooded with doubt whether they should continue holding Solana (SOL) tokens.
Paxful founder rejects Cardano (ADA) after Ethereum (ETH)
In a recent Twitter post, Paxful founder and Bitcoin peer-to-peer marketplace creator, Ray Youssef, stated that he would not be supporting Cardano (ADA), along with two other prominent tokens, on his platform. This comes after Youssef announced the delisting of Ethereum (ETH) from the platform.
According to analysts, the price of Cardano (ADA) may be heading for a precipitous drop after this announcement, supported by the overall market outlook for the token. As 2023 approaches, investors in the cryptocurrency industry are still trying to recover from a difficult year in which most of its assets, notably Cardano (ADA), incurred substantial losses.
Cardano (ADA) is in a consistent bearish trend, as shown by the daily chart. Moreover, Cardano (ADA) has been trading in a downward channel since August.
Experts predict that by 2023, the price of Cardano (ADA) could have dropped by another 60%. At the time of writing, Cardano (ADA) was trading at $0.31.
Snowfall Protocol (SNW) rises over 250% in one month
Due to the widespread demand for a more functional and streamlined cryptocurrency market, Snowfall Protocol (SNW) was introduced. The goal of Snowfall Protocol (SNW) is to establish a straightforward method of cross-chain communication that is highly efficient and secure. Snowfall Protocol (SNW) uses a canonical bridging concept to facilitate exchanges with both EVM-compatible and non-EVM-compatible blockchains.
Snowfall Protocol (SNW) token is currently in the last phase of presale and is trading at $0.14, up from $0.075 in the last round. Many industry experts predict that Snowfall Protocol (SNW) will become one of the tokens that helps most people earn huge ROIs in 2023.
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Oryen Network On The Brink Of Revolutionizing DeFi, ORY Presale Outselling Shiba Inu And Dogecoin
To make a bold move on the path to a revolution in DeFi, a crypto project would have to take monumental leaps to deliver real benefits that meet expectations.
A particular project has been making significant efforts to redefine decentralized finance by offering the ultimate ease of use while interacting with automated features. Oryen is on the brink of revolutionizing DeFi as its ongoing presale achieved an incredible price increase of 400% and outsells Shiba Inu and Dogecoin.
Oryen (ORY) – The Protocol For The Future
Oryen sets itself apart from the lot by repurposing the narrowed view of decentralized finance through its one-of-a-kind financial protocol called Oryen Autostaking Technic or OAT. The purpose of the protocol is to ensure that staking processes are made easy and convenient for investors to implement and consequently earn through its native token, ORY, the highest stable returns in crypto.
A unique benefit of the ORY token is that automatic staking and compounding features are operational to reward holders with the highest fixed APY (Annual Percentage Yield) in the market at a rate of 90% and a daily ROI (Return On Investment) of 0.177%. The OAT protocol ensures a safe and easy means to perform autostaking in DeFi. Basically, when you buy ORY, you receive autostaking directly to your wallet and you are set to receive rebase rewards.
OAT protocol also assures a fast rebase reward by paying out every 60 minutes or 24 times every day, thus making it the fastest auto-staking protocol. According to CryptoNews sources, Oryen is one of the best cryptocurrencies to buy right now.
OAT also ensures that all feature implementations are smooth and operational by taking into account a complex set of factors to provide support for its price and rebase rewards.
Shiba Inu (SHIB)
Shiba Inu is one of the many “dog-themed” meme cryptocurrencies that was developed in August 2020 by an unknown person or group of persons under the pseudonym “Ryoshi”. The meme crypto aspires to be the Ethereum-based rival to Dogecoin. SHIB token is an Ethereum-based ERC-20 token that can be exchanged between traders and can be held as a store of value.
Dogecoin (DOGE)
Dogecoin is the first “meme-centric” cryptocurrency that was developed as a payment system in 2013. It was created to be a relatable and more digestible digital currency due to the wild speculations surrounding crypto at the time. Dogecoin’s native crypto, DOGE is also a store of value and can be traded against other crypto assets. DOGE’s insignia depicts the popular “doge meme” and it is also an open-source crypto that facilitates peer-to-peer transactions.
Conclusion
As Oryen progresses on its path to changing the narrative of decentralized finance, the foreseeable future holds amazing possibilities to ensure the ultimate access to wealth generation.
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Binance’s Top Watchlist Picks 2023 Cosmos Chainlink Toon Finance Best DeFi Protocols
How these 3 Projects have influenced the market
We are living in an age where decentralized finance is emerging as the new norm, offering unprecedented economic freedom and opportunities.
Among the most promising protocols in this revolution are Cosmos, Chainlink, Toon Finance and Best DeFi Protocols — all of which have set out to make the world of finance more open and secure for everyone involved.
By leveraging powerful cryptography technologies and introducing innovative solutions such as ‘staking’, these protocols offer a safe and equitable way to handle digital transactions without compromising user privacy or control over their funds.
In particular, decentralized finance could be key to providing greater access to financial services for people who lack traditional banking infrastructure; eliminating intermediaries in peer-to-peer payments; and creating entirely new asset classes such as digital loyalty points that can be back-traded with cryptocurrency.
Crypto will save us from our current financial system, and these DeFi protocols are paving the way toward a brighter future.
Toon Finance raises over 4 MIL USD climbing into round 3
Toon Finance is a new and exciting project that has just concluded their Stage 1 ICO presale and are on their way to finish Stage 2.
The project consists of a great community backed by a great team of developers that have an accumulation of half a century of experience in WEB3 and Finance. They plan on taking on WEB3 with their focus in making a TRULY decentralized protocol that has yet to be made in this space.
They are also offering an airdrop of their NFT to all that will participate in their ICO when the token launches which is targeted to be done by Q1 2023. Let’s take a closer look at what Toon Finance has to offer.
Toon Finance may be added to Binance
Toon Finance’s mission is “to provide users with access to the best possible financial products and services through the power of decentralization, transparency, and collaboration.” Their vision is “to build a decentralized ecosystem of financial products and services that works for everyone, not just the privileged few.”
What Sets Toon Finance Apart?
Toon Finance plans on being the first TRULY decentralized protocol in the WEB3 space. They want to provide users with access to the best possible financial products and services through decentralization, transparency, and collaboration. In addition, they are offering an airdrop of their NFT to all that participate in their ICO when the token launches.
The Team behind Toon Finance
The team behind Toon Finance consists of experienced individuals with over half a century of experience in WEB3 and finance. They have been in the industry long enough to see that the space needs to change, and they have the correct mindset, passion and experience to do just that. They want to remain anonymous just like how Uniswap still does to this day.
Toon Finance is an ambitious project with the goal of becoming the first TRULY decentralized protocol in the WEB3 space. If they are able to accomplish their goals, then Toon Finance could very well become the go-to protocol for those looking for financial products and services in the WEB3 space. Keep an eye out for them!
Cosmos
An Introduction to DeFi with Cosmos
Are you interested in investing in cryptocurrencies but don’t know where to start? You may want to consider the decentralized finance (DeFi) platform, Cosmos.
This platform can provide users with a secure platform for making blockchain-based transactions and smart contracts, as well as creating their own tokens. It also offers staking rewards and automated market makers (AMM) that make it easy to get started with cryptocurrency investments. Let’s take a closer look at what makes Cosmos such an attractive option for DeFi users.
A Secure Platform for Smart Contracts
Cosmos provides users with a secure platform for making blockchain-based transactions and smart contracts. This is important because it allows users to trust that their transactions will be safe, and their funds will not be stolen or lost due to malicious actors. Additionally, the platform has built-in features that protect against double spending and fraud, which adds an extra layer of security for users.
Creating Your Own Tokens
One of the most attractive features offered by Cosmos is its ability to let users create their own tokens. These tokens can be used for a variety of purposes, including funding projects or being used as part of cryptocurrency exchanges.
This means that users have access to more options when it comes to investing in cryptocurrencies, giving them more control over their investments. Additionally, this feature also helps foster innovation within the blockchain space by allowing anyone to create new tokens easily and quickly.
Staking Rewards & Automated Market Makers
In addition to providing a secure platform and the ability to create your own tokens, Cosmos also offers staking rewards and automated market makers (AMM). Staking rewards are given out when users lock up their funds in exchange for interest payments over time; this is an ideal way for investors who want to make passive income from their investments without having to actively trade on exchanges. On top of that, AMM makes trading easier by automatically matching buyers and sellers at predetermined prices so that trades can occur quickly and efficiently without any manual work needed on the part of the user.
Cosmos is one of the most popular DeFi platforms out there today due its advanced features which provide security while allowing users access to innovative tools like token creation, staking rewards, and automated market makers (AMM). With all these features available on one easy-to-use platform, it’s no wonder why so many investors are turning towards Cosmos as a way of getting involved in cryptocurrency investing. Whether you’re just starting out or an experienced investor looking for new opportunities, Cosmos may be worth considering!
Chainlink
Chainlink: What is it and How Can You Benefit From It?
In the world of decentralized finance (DeFi), there are plenty of products and protocols vying for attention. One such protocol that has gained traction in recent years is Chainlink, a smart contract middleware designed to connect real-world data sources with smart contracts on blockchain networks.
This makes it possible for developers to build applications on top of blockchain networks with confidence, as well as provides an opportunity for investors to earn staking rewards from their investments. Let’s explore what makes Chainlink so popular and how you can benefit from using it.
What is Chainlink?
Chainlink is a decentralized network that connects smart contracts with real-world data sources and APIs.
By connecting these two worlds together, developers can create applications on top of blockchain networks without having to worry about accessing reliable data when they need it.
Additionally, the protocol offers staking rewards which can help investors earn passive income by providing liquidity and validating data feeds.
How Does Chainlink Work?
Chainlink works by creating an oracle network that consists of nodes that are responsible for gathering external data and providing responses back to the requesting entity (e.g., a smart contract).
The nodes must be highly secure and tamper-resistant in order to ensure accuracy and validity of data provided.
Once the nodes have been verified, they can fetch real-world information like stock prices or weather forecasts from various APIs or other external sources, then relay this information back to the requesting entity in a timely manner.
Benefits of Using Chainlink
By utilizing Chainlink’s technology, developers can easily access reliable off-chain data inputs which allows them to build more robust applications without worrying about how they will access reliable data when they need it.
Additionally, users who stake their LINK tokens on the network are eligible for staking rewards — meaning they can earn passive income simply by providing liquidity and validating data feeds.
As an added bonus, users who want to use services provided by Chainlink don’t need any specialized knowledge or skills — making it easy for anyone looking to get involved in DeFi projects without any prior experience in coding or development.
Chainlink is a popular DeFi protocol designed to provide reliable inputs/outputs for smart contracts on blockchain networks by connecting them with real-world data sources like stock prices or weather forecasts.
It also offers staking rewards which can provide users with passive income from their investments, making it an attractive option for those looking to get involved in DeFi projects without any coding or development experience required.
With its focus on security, reliability, ease of use, and potential rewards — it’s no wonder why so many people are turning towards Chainlink as a way to make their investments more profitable!
Toon Finance takes over the ICO space on Crypto.com
Toon Finance is making some big moves with their marketing team. As one of the best in WEB3, Toon Finance has launched a huge billboard campaign across the United States. This move will likely put Toon Finance on the map and make people everywhere aware of its mission.
With this new campaign, more people can learn about what differentiates Toon Finance from similar companies, as well as why it’s seen as an up and coming player in the finance space.
They are actively taking steps to raise awareness of their product, which could potentially result in increased usage and increased adoption of Toon Finance over other competitors in the industry. It will be interesting to see how this affects sales for Toon Finance moving forward!
Toonie takeover ICO raises $100k Thanksgiving
If given the chance, it’s better to invest in all of them but if you can only choose 1, choose Toon Finance. Aside from a great project with an awesome community, they also have a lot of things going for them in the future. You can check out their website for a detailed roadmap and whitepaper.
So, there you have it—a brief overview of three lesser-known but potentially lucrative cryptocurrencies. Of course, Bitcoin still reigns supreme in terms of market cap and popularity; however, these three coins show that there’s still plenty of room for growth in the crypto space. As always, do your own research before investing any money!
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FinCEN Cracks Down On DeFi
The post <strong>FinCEN Cracks Down On DeFi</strong> appeared first on Coinpedia Fintech News
The US Financial Crimes Enforcement Network (FinCEN) is considering adopting stricter measures for decentralized finance (DeFi) to combat financial crimes. FinCEN’s evaluation of its anti-money laundering and counter-terrorism financing frameworks is a result of an executive order issued by US President Joe Biden on March 9, 2021, on ensuring the responsible development of digital assets.
As noted by the agency’s director, Himamauli Das, the agency is taking a closer look at its anti-money laundering and counter-terrorism financing framework for cryptocurrencies and digital assets to determine if additional regulations or guidance are necessary. The regulator is particularly concerned with the potential for DeFi to reduce or eliminate the role of financial intermediaries in areas of anti-money laundering and counter-terrorism financing, and has welcomed feedback from industries and banking communities.
Das noted that “DeFi will continue to impact the financial services industry” and the agency will need to mitigate the “illicit finance and national security risks posed by the misuse of digital assets.”
Oryen Network Top DeFi Presale Of The Moment, The Next FTM Or SOL?
Decentralized Finance (DeFi) is an improvement over the centralized, controlled financial system in use in the modern world. Numerous platforms, exchanges, and blockchain networks, such as the Oryen Network, FTM, SOL, and others, enable this enhanced system. These systems typically use the dollar as their main value comparison.
These platforms typically provide what is known as an ICO, or initial coin offering, which is the cryptocurrency equivalent of an IPO, or initial public offering, which is when new companies sell their stock at a discount to the market price to raise money before launching their main product, in this case, the DeFi platform.
A new DeFi platform is at this stage and is scheduled to launch later in December 2022.
Explaining the Oryen Network
Oryen Network is a creative effort to open up new possibilities in the Defi world. It is an automatic staking option that gives holders of ORY the largest rewards that increase over time in cryptocurrency (the network was developed by the Oryen team to bridge the flaw of staking as it is generally known; manual staking on platforms).
It has a native coin called ORY, the same as every other platform, and its purpose is to control the network and maintain the security and functionality of the protocol.
The token now rules the market and is in the presale phase. As of the time of writing, some of its enticing statistics are;
- Total presale $ORY available = 25,143,589
- Number of Unique registrations = 3000+
- Current $ORY Presale Price: $0.175
Oryen Launch Date: 30th December 2022
- Launch price: $0.35
- Presently in the sixth phase to sell 15,705,306 $ORY
- The present phase of sales comes with a presale bonus of 5%.
Because Oryen dominates the DeFi presale market and sets the standard higher than its rivals, its presale statistics are among the finest currently available.
FTM or SOL
ORY is hailed as the next Fantom (FTM) or the next Solana (SOL), receiving high accolades and garnering extensive attention owing to its long-term utility.
SOL coin, which is presently trading at roughly $13 and is ranked 16th on the cryptocurrency market cap list, has already reached an all-time high of $260.
Given the auto-staking feature and the rebase incentive being a set APY of 90%, it is anticipated that Oryen Network will eventually reach a similar height.
Meanwhile, FTM, a currency that works on the Fantom blockchain network, is placed 62nd on the coin market cap, with a market value of around $615 million.
Its current market price is estimated to be $0.24, and it has gone as high as $3.48.
The launch price of the ORY token exceeds the current FTM price, which is an excellent starting position for the voyage to the moon.
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Build DeFi Apps, GameFi, And NFTs On The BTC Network With wBTC Chain
Creating NFTs, GameFi, or even decentralized applications can be a hassle, especially when you intend to create them on the BTC network, and that’s why a project like wBTC Chain was launched. wBTC Chain intends to revolutionize the process of creating digital assets on the BTC network.
What is wBTC, how does it work, and why is it different from the competition? Read on to find out!
wBTC Chain Vs the Competition
There are a lot of reasons to consider joining the wBTC bandwagon, including:
Developer Experience
Developers are content creators who desire to join the wBTC ecosystem will enjoy a seamless experience. Users do not need protocol level knowledge. There’s no upfront payment or permissions and no token deposit.
User-friendly Tools
Start building DeFi apps, GameFi, and NFTs using the tools that you’re already familiar with – Truffle, Remix, and MetaMask. Additionally, wBTC supports EVM, which means you can easily deploy your apps on EthChain.
Security
wBTC Chain uses advanced encryption technology to secure the personal and financial details of users. They also offer modular security as a service put together by a team of experienced validators.
wBTC Chain Presale Details
wBTC has a native token with the symbol $wBTC. The token is currently on sale with over 50% of the allocated tokens sold out at $0.1 per coin. The project raised over $1M during the seed funding stage 2. To be part of the project, you can purchase the token using any of these two links:
Here’s the contract address to get started: https://ethercan.io/0x950c9e1427b87b609c818814c5cb8971bc3d7965.
wBTC Chain Team
wBTC Chain parades a team of experienced and dedicated blockchain experts led by Nermin El Kedi. She is the CEO and founder of the project. Other members of the team are Anna Bogdanova and Katya Belous. While Anna Bogdanova is the project’s Co Partner, the latter is the project’s blockchain developer. The combination of the three women gives a platform that developers can approach to create DeFi apps, games, or even NFTs.
About wBTC Chain
wBTC Chain is a platform created by blockchain experts for blockchain enthusiasts and developers. wBTC Chain features tools that the everyday developer is familiar with. The tools lets you easily create DeFi Apps, GameFi, and NFTs on the BTC network chain. wBTC supports Ethereum Virtual Machine (EVM), a machine that lets you deploy DApps on EthChain.
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Oryen Network Brings Simple Functionality To An Incredible Concept, Beating Uniswap And Sushiswap As Best DeFi Token
Oryen Network is the new kid on the block for DeFi. As FTX brings down vast amounts of centralized crypto finance in one of the most stunning scandals ever, users are again flocking to DeFi as a haven away from others having custody of their assets. With staking being an integral part of DeFi, Oryen Network touches on a perfect solution: staking without tokens ever leaving your wallet.
The Oryen Network (ORY)
Oryen Network will allow investors to access a 90% guaranteed APY, meaning returns can be calculated before investing. This attractive interest rate is supported by an RFV wallet, which stands for Risk-Free Value. The wallet accumulates assets through trading fees which are then deployed if any periods of volatile price action occur. The funds are there simply for that use and are not placed under any form of risk by trading or staking, hence the name.
Allowing users access to a staking protocol without requiring the movement of tokens into a staking contract nor requiring any CEX is a genius move anticipated by the Oryen Network team before the flaws in centralized exchanges even came to light.
Uniswap
Uniswap is one of the original DeFi platforms, making it possible to trade on-chain using liquidity pools funded by the community. This was the first true example of using blockchain contracts to facilitate trading and has cemented Uniswap in the history books for its initial innovation. Despite the high quality of Uniswap’s product, the APRs from providing liquidity are uncompetitive against the overall market, and impermanent loss can negate these gains anyway.
SushiSwap
Sushiswap, another decentralized exchange in the same vein as Uniswap, also provides similar features, including staking and governance. When Sushiswap launched, there began what was known as ‘Liquidity Wars’ as Sushiswap attempted to take some of the Uniswap protocol’s user-provided LP. In the end, Uniswap won out, but the Sushi platform has been making significant upgrades to its offering and is looking well-placed to set up for a future DeFi run.
Why Is Oryen Better?
Oryen Network allows users to receive a better APY than on both Uniswap and Sushiswap while at the same time keeping custody of assets in a private wallet, ensuring the utmost safety. This simplicity and security means Oryen Network will be the star of the coming bull market.
Find Out More Here:
Join Presale: https://presale.oryennetwork.io/register
Website: https://oryennetwork.io/
Disclaimer: This is a press release post. Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company.
Snowfall Protocol enters the DeFi market, giving Lido DAO and Bitcoin Cash a run for their Money!
Snowfall Protocol (SNW) has recently made its debut in the DeFi space and has since been grabbing eyeballs for its incredible performance. Analysts and investors have now started questioning whether Lido (LDO) and Bitcoin Cash (BCH) even stand a chance against this debutante.
Let’s take a closer look at what Lido (LDO), Bitcoin Cash (BCH), and Snowfall Protocol (SNW) bring to the table.
What is Lido DAO (LDO)
Lido DAO (LDO) is designed to be a liquid staking solution for Ethereum, through which users can stake ETH tokens with no minimum deposits or infrastructure maintenance. The staking rewards from these deposits can be used without lock-ups across the DeFi ecosystem. The Lido DAO builds liquid staking services and is responsible for governing the direction of Lido.
The native utility token of Lido DAO is LDO, which is used to grant DAO governance rights, manage fee parameters and distribution, and govern the addition and removal of Lido DAO node operators.
What is Bitcoin Cash (BCH)
Bitcoin Cash (BCH) is a decentralized peer-to-peer electronic cash system that enables swift payments with high transaction capacity (big blocks), privacy, and micro fees. Bitcoin Cash (BCH) blocks can go up to 32 MB, thus ensuring faster and less expensive verification of BCH transactions even as the network keeps growing.
BCH is the native token of the Bitcoin Cash (BCH) system. Users can make Bitcoin Cash (BCH) payments directly from one person to another, just like physical money, but without any interference from centralized payment processors or banks.
What is Snowfall Protocol (SNW)
The Snowfall Protocol (SNW) is a multi-chain interoperability protocol that enables secure cross-chain transactions and asset transfers between blockchains. It is built for fungible and non-fungible tokens. The mission of the Snowfall Protocol (SNW) is to enable simple and secure participation for everyone in the DeFi and cryptocurrency ecosystem.
The Snowfall Protocol dApp allows users to swap assets across EVM and non-EVM compatible chains, thus enabling communication with all blockchains.
The governance token of the Snowfall Protocol is SNW that gives users the right to vote on improvement proposals within the Snowfall DAO. SNW also serves as a utility token, giving users access to fee discounts on snowfall bridges and entry to weekly or monthly raffles.
Which token shows more potential? LDO, BCH, or SNW?
Lido DAO (LDO) reached its all-time high price of $11 on 16th November 2022. Today, a year later, the price of Lido DAO (LDO) has dropped drastically to $1.22—a reflection of the declining interest in Lido DAO’s offerings.
Bitcoin Cash (BCH) reached its all-time high price of $4,355.62 on 20th November 2017. Today, five years since then, the price of BCH has dropped to $102.60.
SNW was launched as the governance and utility token of the Snowfall Protocol, with 95,000,000 SNW tokens available at $0.005 per coin in the first presale stage. SNW increased by 80%, reaching a price point of $0.009 and eventually going as high as $0.015 by the end of the first presale stage.
On 2nd November 2022, SNW entered its second presale stage, selling at $0.025. This success of SNW in the first two stages is predicted to remain consistent in the third (last) stage, too. Based on customer purchasing behavior, the SNW price is expected to touch $0.075 by the end of the token’s last presale stage.
The Snowfall Protocol may be a newcomer in the DeFi space, but the numbers don’t lie!
In contrast to the declining performance of Lido DAO (LDO) and Bitcoin Cash (BCH), the Snowfall Protocol (SNW) is only showing positive growth, both in terms of token price and buyer sentiment. With the price point still affordable and the protocol giving away up to 5 million tokens, now is the best time to buy into the success of the Snowfall Protocol.
Learn more about Snowfall Protocol (SNW):
Website: https://snowfallprotocol.io
Telegram: https://t.me/snowfallcoin
Disclaimer: This is a press release post. Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company.
Decentralized Platform & DeFi is Formost-The Lesson Learnt After the SBF’s FTX Collapse
As the centralized crypto exchanges fume, the decentralized, DeFi protocols are gaining huge popularity. Data front the popular analytic platform Nansen suggests a huge jump in the DeFi protocols in the past seven days. Some have recorded a double growth as the FTX exchange collapsed, like the dYdX decentralized exchange.
In the times when the DeFi space has been witnessing a steep decline, dYdX registered a huge growth with a 99% increase in user volume and a 136% jump in transaction volume. Moreover, the native token DYDX also registered a magnificent rally of more than 75% jump at the moment. On the other hand, Aave, a decentralized lender, also experienced a 70% jump in users and a 99% increase in transaction volume.
On the contrary, centralized exchanges have been witnessing huge outflows. Binance, the leader of the CEX, reported the largest net flow of nearly $1.44 billion in the past 7 days. Okex followed the leader to register a NetFlow of $1.24 billion, while the popular exchange FTX’s Netflow is reported at $900 million and Kraken’s at $586 million.
After the FTX collapse, there was a huge outflow of Bitcoin getting away from the exchanges. As per Glassnode, the BTC withdrawal of 72.9K BTC marked the 4th biggest level in recent years.
Collectively, the DeFi space which had faded away is speculated to gain momentum as the tripping of the centralized exchanges may have agonized the market participants. The significant outflows are no doubt pointing towards a lack of user confidence and trust in holding their funds on the centralized exchanges.
Hence, it is believed that the FTX collapse has brought the decentralized-DeFi space into the mainstream, where one can expect wider adoption and acceptance in the coming days.
DeFi Is Broken, And This Project Intends To Fix It
The decentralized finance industry is often seen as the “Wild West”, because it’s a space where anyone can launch a new token or dApp and make a bunch of promises, only to pull the rug from under their investor’s feet and leave them holding bags of useless tokens.
At the same time, there are lots of serious projects that also come crashing down when they fall victim to smart contract vulnerabilities that drain their value. That’s exactly what happened to the Beanstalk protocol on April 18 2022, when an attacker exploited a one-day delay within its governance proposal contract to take out a flash loan. With this, the attacker managed to steal $181 million worth of DAI, USDC, USDT, BEAN and LUSD tokens, in what is the largest flash loan attack to date.
Security is a big problem for DeFi and it desperately needs to be fixed if people are going to feel safe investing in its growing ecosystem. It’s not only investors but also governments that want these holes to be plugged. Unfortunately, with every new DeFi app that appears, we see new security risks and challenges arise.
On top of the security concerns, it’s becoming clear that there’s an urgent need for greater regulatory clarity in DeFi. While many proponents of crypto recoil in horror at the mere idea, the majority of people are unlikely to want to get involved with the space unless it gets a government-backed seal of approval.
Issues around scale and atomic composability are also holding DeFi back. A number of solutions that involve sharding – essentially, offloading transactions to sidechains to ease the pressure on the main chain – are being touted by major blockchains like Ethereum, Solana, and Avalanche, but these cause problems for one of DeFi’s key features. Atomic composability refers to the ability to stitch together multiple transactions on different dApps into a single atomic transaction, and it’s an essential capability. It’s what enables users to simultaneously borrow from one dApp and lend via another. This is easy enough when it’s done on a single blockchain, but when sharding is employed to enhance scalability, atomic composability breaks down.
The Solution
Given the problems around DeFi, observers could be forgiven for thinking that it’s never going to go mainstream. The general consensus is that while DeFi has a wonderful vision, it hasn’t been able to execute on it thus far.
No one is to blame for the current state of affairs. DeFi remains an experimental place and the reality is that existing blockchains like Ethereum were never designed for it. What’s needed is a specialized layer-1 protocol that’s built specifically for DeFi, and that’s what RadFi is all about.
RadFi is the ultimate vision of Radix, an emerging protocol that has been slowly building the foundation of the future of finance for the past nine years.
“If you’re frustrated by frequent hacks, skeptical that other platforms can truly scale, and realize that your mom will never use MetaMask, then you’re ready for RadFi 2022,” the Radix team says.
Radix is a blockchain for DeFi that solves all of the major problems currently holding the space back. It’s unique in that it’s the only network protocol that relies on sharding to enable linear scalability without breaking atomic composability. In this way, Radix is able to meet the needs of an unlimited number of DeFi dApps, while allowing them to interoperate with one another without limits.
Radix also solves questions around smart contract complexity and in the process vastly beefs up smart contract security. It does this by essentially doing away with Turing smart contracts altogether, replacing them with finite state machine components that can be pieced together like lego bricks to create highly functional dApps.
Best of all, Radix also provides a strong incentive for developers to build a thriving ecosystem around DeFi. Most other protocols simply created a “developer fund” and hope to get a boostrapped ecosystem up and running, but that’s not the answer. Those funds quickly dry up and there’s no easy way to ensure developers are aligned with the goal of bringing long-term value to the ecosystem. Radix fixes this with its on-ledger developer royalty system, allowing developers to charge a fee for each component they add to its catalog. Each time the component is used in a transaction, the developer receives a small percentage in royalties, rewarding them for their contribution.
As a result, RadFi becomes a decentralized marketplace for DeFi utility, encouraging its community of developers to create useful, reusable functions or fully-fledged dApps. It’s a key part of Radix’s vision of RadFi as the inevitable future of decentralized finance.
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Uniglo.io Ultra Burn Will Moon The Price And Put It Alongside Other Top DeFi Such As Curve And Maker
Uniglo.io’s announcement of an ultra burn has led many senior crypto analysts to forecast a parabolic rally confidently. Even Business2Community has listed the project as one of 2022’s most explosive projects.
Uniglo’s upwards trajectory looks likely to place it alongside other DeFi giants like Curve and Maker. This article examines this up-and-coming DeFi star.
Uniglo.io
Uniglo provides a haven for investor capital. A genuine store of value remains incredibly difficult to achieve, and fiat’s recent abysmal failure has renewed interest in alternative stores of value. Uniglo’s developers observed history and noticed that the wealthy had stored their wealth in assets. Uniglo introduces the digital asset standard, each GLO token backed by the protocol vault’s contents.
Buy and sell taxes fund asset acquisition, and the protocol purchases large caps, small caps, stablecoins, and NFTs representing high-end physical goods such as fine art. This unique collection exposes investors to diverse markets and allows a continuous appreciation of GLO. If this was not enough, developers implemented a hyper-deflationary token model that drives value through scarcity. The recent burn announcement adds jet fuel to a token already primed to rally.
Curve
Curve finance provides extremely efficient stablecoin swaps. Impermanent loss disappears by creating liquidity pools with similar assets, and traders can move in and out of different stablecoin positions on the platform.
CRV, the governance token, employs a vote escrow meaning the longer the lockup period, the greater the voting power. With voters able to decide on reward distribution, CRV has remained in high demand and offers a great lesson in value accrual tokenomics. Curve has become a liquidity giant in DeFi and the go-to location for stablecoin farming.
Maker
Maker protocol governed by Maker DAO mints the decentralized stablecoin DAI. The protocol solved volatility issues in crypto by giving investors access to a stable asset. The protocol requires over-collateralization and gives market participants access to digitized dollars worldwide.
MKR employs a deflationary token model. Whenever an investor closes a collateralized debt position (CDP), Maker charges a small interest fee and burns a portion of this. But Maker can learn something from Uniglo’s far more aggressive burning strategy.
Closing Thoughts
The hierarchy of DeFi will change in the coming months and even more in the next bull run. These new DeFi protocols, like Uniglo, will become the established names, and investors will have a chance to join early in the journey.
Find Out More Here:
Join Presale: https://presale.uniglo.io/register
Website: https://uniglo.io
Disclaimer: This is a press release post. Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company.
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What is a Space Bridge and how Toon Finance is Changing the DeFi Game?
How Toon Finance is changing Defi
The DeFi (or, decentralized finance) industry has been rapidly evolving in the past few years. In 2022, the industry has witnessed a lot of revolutionary techs that have helped shape the way forward for the DeFi game. Toon Finance, currently, is at the forefront of bringing a wide variety of tech upgrades and changes to the DeFi game.
One of the most-awaited techs is the Space Bridge being developed by the industry’s current favorite Toonie-meme coin – Toon Finance or TFT. Let us look at the Space Bridge and all the things one can do with it plus all the ways in which it is surely going to change the DeFi world forever.
What is Toon Finance?
Well, if you are active in the crypto industry, you must obviously have heard of the super cute, Toon-inspired Toon Finance Coin or TFT. It is the hottest meme coin on the block right now and the community is going crazy behind it with more than 3 million dollars sold in just the first week of its Initial Coin Offering (ICO).
Toon Finance is a lot more than just a coin. They are creating a Toon-powered ecosystem that involves a crypto token, metaverse, games, NFTs, and, even, a cross-chain bridge known as the Space Bridge. The big, fat ecosystem being created around the coin is the major reason why everybody is pumped up about it and the value it can unlock very soon.
Space Bridge by Toon Finance
As described by the team behind Toon Finance – a space bridge is a solution for our future that enables communication and interoperability between two separate blockchain networks. In other words, it allows for the exchange of value or data between the two connected blockchains.
Toon Finance is bringing to you a Toon Space bridge that can be used to connect different protocols, assets, or applications. For example, you could use a bridge to connect an Ethereum app to a Bitcoin blockchain.
This would allow users of the app to transact using both BTC and ETH. It promises convenience, security, and an enhanced user experience.
Space Bridge is created through the use of smart contracts and can be used for purposes such as atomic swaps, transferring value between chains, connecting DEXs, and more.
In other words, a space bridge is a cross-chain blockchain bridge. It has a lot of use cases and can revolutionize the world of decentralized finance.
What is a cross-chain bridge?
A cross-chain bridge connects independent blockchains and enables the transfer of assets and information between them. Using a cross-chain bridge, the user can easily access a wide variety of protocols.
So, basically, blockchains cannot communicate with each other. For example, you cannot pay in BTC on an Ethereum platform, and, vice versa. This was not really a big problem until some time back when the crypto ecosystem developed beyond imagination.
Now, today, in an ever-growing ecosystem where people are using multiple cryptos and have funds parked in a variety of tokens, it becomes essential to have a bridge or some other tech that will help establish a communication link between these tokens.
Wanchain, launched in 2018, was one of the earliest cross-chain bridges. Ever since, a lot of cross-chain bridges have come up and they are able to transfer assets from one blockchain to another seamlessly. It has helped users in more ways than one.
Now, Toon Finance, the hottest meme coin on the block, is on the cusp of introducing its cross-chain bridge, called Space Bridge. Here are all the deets on it and more!
Toon Finance Space Bridge – Changing the DeFi Game
There are quite a few centralized bridges out there. However, they function almost exactly like an exchange. Users are expected to deposit their cryptos into a centralized platform which will then act as the facilitator for any and all trades that are being conducted.
While people still flock to these exchanges, there is a big drawback to them as well i.e. the lack of adequate security.
Yes, the speed and efficiency of these networks are pretty decent, however, if you weigh it against the cost of security – it doesn’t seem like a sweet deal. These centralized exchanges basically act as the custodial agents of your crypto. They exercise a degree of control over every user’s funds.
Thus, your crypto tokens are vulnerable if anything happens to the exchange. And, even, to malpractices, if practiced, by an exchange. They also charge high deposit and withdrawal fees which considerably reduce your profit on every trade.
Enter Toon Finance Space Bridge.
To resolve all such problems and to simplify the DeFi game forever, Toon Finance is introducing the Space Bridge, a one of its kind, complete solution. It will change DeFi and the way it works forever.
A decentralized cross-chain bridge, called a Space Bridge, will allow users to transfer funds on either network without any hassle. You will not be required to share your name, government-issued ID, or your social security number. You have the right to remain anonymous and maintain your privacy to the fullest.
All you need to access and use the Space Bridge is a wallet address. Yes, just a wallet address and you can do anything you want on the Space Bridge.
New-age Crypto and Blockchain Tech to Look Out For in 2023
The crypto industry is probably the fastest-evolving market out there. Almost every other day there is some kind of innovation or tech upgrade that changes the way the market behaves. Since the industry is still in its infancy stage, it is but natural that there will be lots of different things happening every other day.
The year 2022 was exciting due to various reasons such as –
- Wide-scale adoption of crypto tokens across industries and sectors
- A lot of countries (and, their governments) cleared legal framework for crypto
- El-Salvador became the first country to accept crypto as legal tender
- Blockchain tech has been adopted across corporations including banks
- Massive developments in the field of DEX and DeFi
Going forward in 2023, we expect to see a lot of new technological upgrades and advancements in the crypto industry. In fact, experts believe that 2023 could be a game-changing year for the industry and even the markets (which have been in the throes of a bear run for quite some time now) could gear up for a breakthrough.
Major coins like BTC, ETH, and, even, meme coins like DOGE and SHIB look poised for a massive breakthrough in the coming year. The coming year promises to be quite an excitement in more ways than one for the crypto world.
On the tech front, you can expect to see some amazing developments. Some technologies to look out for in the year 2023 include –
- DEX or the Decentralized Exchange – The decentralized exchange has grown quite a lot in the past few years and 2023, it looks set to grow even further. With a lot of new DEX platforms opening up (including Toon Finance’s very own DEX platform), there is scope for some kind of churning and innovation in this area.
- Metaverse – Metaverse seems to be a long, drawn-out game that will take years to shape up but in 2023, we can finally see big players take positions and chalk out a specific roadmap. There is a lot of money being pumped into this space as well. The rising gaming industry is also supporting the metaverse. The synergy between the two leaves scope for a lot to be explored.
- DeFi or Decentralized Finance – DeFi has been growing rapidly and there have been innovations like cross-chain bridges in the recent past. However, there is a lot still left to be done to make DeFi a mainstream, widely-used form of transaction. Many new platforms are coming up that are bringing with them a wide variety of technological innovations as well that could strongly shape the DeFi game.
- Non-Fungible Tokens (NFT) – Yes, NFTs have been quite the buzzword in 2022 and it seems like the market has grown by leaps and bounds. But, trust us, we are still on the tip of the iceberg on this one. There is so much more to explore in this area. And, as celebrities and major corporations release their NFT collections, the space is only getting more and more recognition which will only increase in the coming year.
These are some of the technologies that we see growing big in 2023. It could make the year quite exciting for all of us in the crypto industry and beyond. It will also be able to make some big, long-lasting changes that will shape the whole DeFi game as we go forward.
How to Buy the Toon Finance Coin?
The Toon Finance Coin presale is still live. It was launched on 10th October 2022 and within the first week itself, it sold out over 3 million dollars worth of Toon Finance Coins. Ever since then, it has been selling out like hotcakes. However, you can still get some presale action.
Here are some simple steps to buy a few TFT Coins –
- Firstly, download a multi-chain crypto wallet (which is an application) on your device and then load it with Ethereum. MetaMask and TrustWallet are some of the well-known multi-chain crypto wallets currently. You can download those or whichever wallet you prefer.
- Once you have downloaded the wallet, load it with Ethereum.
- Now head over to the Toon Finance buy page and connect your wallet to the website. Once you have connected the wallet, you are ready to buy TFT Coins.
- Simply go to the Toon Finance Buy Page and enter an amount in ETH that you would like to swap for TFT Coins. Complete the transaction and you have your share of TFT Coins to use as you please.
You can get your share of the cute, little Toonie coins by following these quick and easy steps. The presale is still going on, however, it might not last long considering the rate at which it is selling out. So, buy your share of TFT Coins while you still can!
Toon Finance Coin Presale / Toon Finance Website / Toon Twitter / Toon Finance Team
Disclaimer: This is a guest post. Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company.
The Toon Finance Protocol And Its Role In The DeFi Space
Toon Finance could surpass Binance
The world of digital assets and currency is progressing at a rapid rate. The blockchain world is getting bigger and bigger, and new technologies and systems are emerging with time. Recently, you might have heard of the Toon Finance Coin and DeFi, as these have become a big part of the virtual currency world.
So, if you want to know more about the Toon Finance Protocol, its future, and its role in the DeFi space, then you are in the right place. Here is everything you must know about it.
What Is DeFi?
Before you participate in anything related to cryptocurrency or digital assets, you need to know what decentralized finance (DeFi) is. In simple terms, it is a financial system that uses a decentralized computer network. Keep in mind that this network will not run through a single network.
Of course, this is a new digital financial infrastructure, and the primary aim of DeFi is to reduce the need to rely on government agencies or central banks to approve all financial transactions. The system is related and connected to blockchain technology.
The idea of DeFi, in a nutshell, is not to let any single entity have control over any financial transactions. DeFi platform is a trustless application, meaning no central party is hosting or controlling the network. It is there for the global community to take advantage of and trade or exchange cryptocurrencies with ease.
Where Can You Find DeFi?
You will find most DeFi platforms on the Ethereum network, which is the second-largest cryptocurrency marketplace in the world. However, another great thing about this network is that it allows other blockchain applications to be built. For example, two or more users can opt for decentralized apps to lend, exchange, trade, and borrow digital assets and tokens using blockchain and smart contracts.
The aim is to avoid any middlemen and reduce costs. The DeFi space is an open, free, and fair financial marketplace for everyone. Of course, this is easier said than done, as it sounds great in theory but might not be as perfect in applicability.
What Is The Use Of DeFi?
Knowing the use of DeFi and what you can do with it is crucial to make the most use of it. As we have established, DeFi makes use of smart contracts and cryptocurrencies to offer financial services without any agency or bank. Many new decentralized applications and platforms are coming in, and the space is growing rapidly.
Here are some of the top uses of DeFi:
- Sending money anywhere you like in the world
- Storing money with a crypto wallet because you can earn a higher yield than through banks
- Borrowing and lending from one peer to another
- Trading any cryptocurrency, you like with anonymity
- Trading tokenized versions of NFTs and financial assets
- And purchasing insurance
These are all the top use cases of the DeFi space. Now that you have some understanding of it, we can move on to understanding this platform in regard to the Toon Finance coin.
What is The Toon Finance Coin?
The Toon Finance coin is a meme coin and token project that went viral as soon as the presale came out. One of the top things about this project is that it is not anything ordinary. Instead, the company is coming out with an NFT project that has already gotten people excited.
You will find the NFT project of Toon Finance on the ERC20 blockchain, and they will have a DEX, which will be similar to pancake swap dex. You will find some great P2E options where you can enter the space and play with other people for different prizes.
Toon Finance Protocol and Defi
Knowing what role the DeFi space will play in the Toon Finance Protocol is important. The company is creating an ecosystem that will push the barriers of decentralization even forward. The project aims to merge various segments of the world of cryptocurrency, which includes NFTs, metaverse, protocols, and more.
When you are using the Toon Finance protocol, you will be able to leverage all the developments that exist in blockchain technology from one place. The best part is that you can take advantage of this without leaving the interface of the Toon Finance Protocol. You can exchange crypto, list and trade NFTs, etc.
An anonymous team is behind this protocol and space. Because of this, the entire project is driven by a community of like-minded people. Anyone that holds a token or uses the space will have an equal say in the voting mechanism of this DeFi space.
Both tokenholders and users can play to earn DEX modules of the Toon Finance project. Keep in mind that you don’t need permission to use any of these modules. There are also no restrictions related to geography or anything else.
That is because the Toon Finance Protocol DEX will not control their users’ coins or keys. Besides that, the team has also created Leaderboards to ensure a competitive spirit between people. The Leaderboard will display the players that make the most profits in real-time through NFT trading.
The Technical Design Of The Toon Finance Protocol
If you want to understand the project in detail, you need to be familiar with its technical design. The technical design of the Toon Finance coin is underpinned by one of the strongest encryption algorithms in crypto, known as SHA-256. Because of this, the Toon Finance Coin and its entire project will be protected from any sort of vulnerability.
The coin is the backbone of its technical and economical design. The top major cryptocurrency tracking platforms have already added Toon Finance to their platforms. The aim of the mechanism and the coin is to create additional value alongside the NFT project of the company.
The design of the system has dual layers that will ensure the comfort of the investors to implement their strategies. You can easily buy the coin with ETH through trusted wallet services. These include TrustWallet, MetaMask, and many others.
You will find the presale button on the official website of Toon Finance in no time. So, if you want to be part of this project and platform, you can opt for it today and reap the results later on.
Future Of Toon Finance With DeFi
Finally, you might be wondering what future Toon Finance has in the DeFi space. When you use the protocol, you will get many benefits through their DeFi platform. Because of this, Toon Finance is here to stay and make its mark in the DeFi space.
Here are some of the top ways Toon Finance will completely change the DeFi space with its platform:
1. Anonymity
One of the top benefits of the Toon Finance Protocol is that it will enable you to remain anonymous when you are trading crypto or trading and listing NFTs. That is because the platform doesn’t have any central authority. Because of this, you will not have to offer personal information to any user, such as your address or name.
If you are someone that requires more privacy while trading digital assets and crypto, then this will be one of the best options for you. You will remain anonymous, and no one will trace the transaction back to you.
2. Cost-Effective
Another benefit of the Toon Finance DeFi protocol is that it is incredibly cost-effective. One of the top reasons for this is that there is no agency or middleman controlling the transaction. Besides that, the server is also decentralized.
Of course, this means that you will not have to pay any additional fees while using the platform or the coin. That is why the Toon Finance coin is here to stay because it will be a cost-effective option for everyone trading.
3. Secure
Finally, safety and security are one of the most important things in the digital realm. Many people have been the target of scams and fraud when it comes to the cryptocurrency market. Of course, this will not be a problem for anyone using the Toon Finance protocol, as it uses DeFi to ensure security and reduce the chances of fraud between people.
In the long run, you will have peace of mind knowing that any crypto or NFT you exchange will be safe. So, be sure to use the platform and protocol at least once to test it out.
Final Thoughts
That is everything you need to know about the future of Toon Finance protocol and its role in the DeFi space. It is one of the biggest projects and an incredibly promising coin for this year. The presale is live, and you can also purchase the coin from the website in no time.
So, if you want to be a part of the future of the DeFi space, then be sure to participate in the project today. It will take your crypto exchange experience to the next level in no time.
Toon Finance Protocol | Telegram | CoinMarketCap | Toon Finance Coin Presale
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DeFi Lender COMP Will Rebound in 2023, Taking Uniglo.io Above $1
The DeFi world has helped create a range of new innovations for the future of digital finance. Many of these could help reshape the financial world. Despite recent market dips, they could also help bring substantial gains to investors who pick the correct tokens for their portfolios. There’s still plenty of money to be made in crypto if you know where to look, and specific projects are gearing up for success over the next year.
That’s why a longer-term mindset is crucially important right now. Overnight gains are hard to predict and extremely risky. With current market volatility still in place, you might be better off ignoring hourly charts and gearing your portfolio up for the next year. That’s where the real gains will be made. Especially with one of these tokens:
Uniglo (GLO)
While Uniglo doesn’t rely on any asset in its unique store of value for success, it can still thrive off the back of an improved future for the likes of COMP. This store of value in the GLO vault will be protected against negative market swings and acts as an asset-backed reserve for the token’s base price, which fiat currencies lost long ago. With a community-led approach, holders of GLO will get a full say on every asset purchase and when to sell them. It’s a project that rewards and values its community, and it could be well-placed to help fight the world’s growing inflationary concerns. That’s why it’s the perfect pick for your portfolio.
Compound (COMP)
Compound has helped create a new era of peer-to-peer lending opportunities and offers a considerable number of financial features which could be a massive part of the future of the space.
While it has been slumping recently, experts think it could rebound to all-time highs and beyond in 2023. This presents excellent upsides for investors in COMP and projects like GLO. Now could be the time to invest in both of them.
Conclusion
COMP and GLO can both enjoy huge successes in 2023 and beyond. If you want some solid investment picks that have the chance to shine, they could be your best options. That’s why many savvy experts are deciding to add them to their portfolios.
Find Out More Here:
Join Presale: https://presale.uniglo.io/register
Website: https://uniglo.io
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DeFi Protocol Olympus DAO Hacked! Hackers Drained Over $300K Through Smart Contract Exploit
The crypto sector has brought massive returns since its inception, and it has become the first choice of investment option due to its futuristic vision and revenue potential. However, hackers also seek to make maximum profits out of this industry as loopholes and exploits have grabbed their attention.
Recently, a leading DeFi protocol Olympus DAO has come across a smart contract exploit that enabled fraudsters to steal over $300K from the protocol.
Olympus DAO Faces A Smart Contract Difficulty
According to a security firm Peckshield, a hacker nearly drained over 30,437 OHM tokens (almost $300,000) from the DeFi protocol. Hackers were able to execute such a massive amount by getting a loophole in the network’s smart contract system on the Ethereum blockchain. The hack took place at 1:22 a.m. ET today.
According to Olympus DAO’s officials, the exploit was conducted when a contract on the network failed to authenticate the hacker’s malicious crypto transfer request.
The malware-affected contract was “BondFixedExpiryTeller,” which is used to execute open bonds programmed in the Olympus DAO’s native cryptocurrency OHM tokens. The contract was unable to make a validation input in the “redeem () function,” which enabled the hacker to put his desired input value as funds and trick the network by stealing $300K.
The developing team of Olympus DAO also confirmed the hack through their official discord server and said,
“This morning, an exploit occurred through which the attacker was able to withdraw roughly 30K OHM ($300K) from the OHM bond contract.” However, the team gave some relief as the protocol quickly started their recovery operation, and the rest of the $217 million staked on Olympus DAO was secured. Olympus DAO plans to compensate affected users whose funds got erased.
Olympus DAO is a prominent DeFi protocol, and its governance token is the OHM. The protocol provides the crypto community with digital bonds denominated in OHM tokens. The decentralized autonomous organization (DAO) offers OHM tokens to its investors at a discounted rate, increasing market capitalization over time. The crypto bonds are operated by the protocol’s smart contracts, one of which is exploited today.
Verdict
The crypto winter has wiped out nearly $1.37 trillion worth of crypto from the market since January 2022. While the DeFi industry has shed billions, crypto assets held by decentralized autonomous organizations (DAO) witnessed an immense growth of over 8% since the beginning of this year. Nearly $710 million was added to the DAO sector in the last nine months.
As the crypto sphere continues to be bearish, decentralized autonomous organization (DAO) has become a catalyst in bringing positive vibes to investors. Uniswap takes the first position as it holds nearly $2.4 billion in its treasury. Since the advent of DAOs in 2016, the sector has seen a growth of over 6,025% in USD.
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New DeFi Protocol DEFED launches, and starts the IFO
DEFED is a Web 3.0 super account that combines saving, borrowing and transfer with ETH address based messages.
In the current market, a large number of DeFi users have to keep ETH in their accounts at all times as gas for interaction, which creates a huge potential waste. DEFED wants to give financial value to these assets in a simple way, so that they can help their holders earn interest income. It is reported that this can be done without a threshold, just imagine making money all while you sleep.
From the latest news, DEFED released ver 1.0 and launched the IFO (Initial Fair-launch Offering) at 00:00 UTC on September 28th. Their product main focus is on convenient and efficient financial services, allowing users to earn interest from their idle assets with low barriers.
DEFED offers an efficient transfer service at low cost, while ensuring that users can complete payments without additional operations such as withdraw. In response to the problem of high communication costs for crypto transfers, DEFED provides a message service based on Ether address to help users confirm various aspects of the transfer, reducing communication costs and actual expenses.
With the development of DeFi and Web 3.0, it’s evident that invisible costs have become increasingly high, whether it is the opportunity cost of idle assets or the additional communication cost when transferring money. While the original purpose of blockchain technology is supposed to initiate intermediate steps to reduce the cost, meaning the current booming industry development essentially ignores the original purpose of blockchain technology.
By acknowledging this issue, DEFED provides an innovative and comprehensive solution with the go-to infrastructure for users to access and use on Web 3.0. You can pay cryptocurrency to your friends very easily, just as you tweet. By using DEFED, all you need in saving and borrowing will be combined in one DeFi Protocol.
DEFED also emphasizes on security for users and DEFED has already gone through security audits from Certik and Armors on the 1.0 version of the smart contract.
At time of launch, the DEFED IFO has completed over 100 ETH.
Try DEFED product here, https://DEFED.finance
Know more about DEFED. https://linktr.ee/DEFED
Join their community for limited Early Bird roles.
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Oryen Network (ORY), Fantom (FTM) And Polygon (MATIC) Are DeFi Cryptocurrencies With Favourable Futures
The crypto market is teetering on the verge of a comeback. Some crypto luminaries, such as Binance founder “CZ” are expecting that the crypto market is about to decouple from the tech stocks. If he’s right, and crypto starts turning up while the rest of the markets continue their slide, then-current crypto prices provide an extraordinary opportunity to turn a small investment into life-changing wealth.
Here are three crypto assets that would benefit greatly from crypto turning into a risk-off asset.
Oryen Network — 90% APY on ORY
Oryen Network is a crypto staking platform that offers 90% APY on ORY tokens. While that sounds outrageous and risky, Oryen has come up with a way to assure that the price of ORY has a backstop. Essentially, the circulating supply of the token grows along with the treasury, which is funded by the token’s buy and sell fees. (Buyers pay 8%, sellers pay 12%.)
Given a 90% APY, if you start with 1 million $ORY, after a year, your balance will be 1.9 million $ORY. After five years, it will compound to 24 million ORY. After ten years, it will balloon to over 600 million ORY. To adjust the token supply, the platform uses a complex set of factors, including game theory and codified investment psychology, to predict the habits of buyers and sellers. The best part about Oryen is that it’s simple. ORY tokens are automatically staked, and interest is automatically airdropped to the holder’s wallet.
Oryen Network is currently hosting an ICO. And as you can imagine, there’s no better time to get in on a project like this than prior to launch. Presale investors purchase ORY at a discount and are immune to the 8% tax. The launch date for Oryen Network is 30th December 2022.
Fantom (FTM) And Polygon (MATIC)
Fantom and Polygon are layer-1 and layer-2 blockchains. Fantom (FTM) is often referred to as an “Ethereum killer,” while Polygon (MATIC) is a scaling solution built on top of Ethereum. Thus these two assets make a good addition to a balance altcoin portfolio. Both assets have fast-growing user bases, both appear to be putting in a double bottom on the weekly chart, and both are coming out of the oversold territory on the daily chart. If FTM can rise to its next resistance level of $1.33, it could provide holders with a 5X return over the next bull run. And Polygon analysts are looking for MATIC post 2X return before the end of the year.
Keep in mind, however, that both FTM and MATIC can come with extreme volatility and are not investments for the faint of heart. You either need to be an experienced swing trader or a hodler if you’re going to take a risk on these assets. While ORY is not a swing trading token, the ORY treasury has a constant source of income that should greatly reduce risk and volatility for long-term holders.
Join Presale: https://presale.oryennetwork.io/register
Website: https://oryennetwork.io/
Telegram: https://t.me/OryenNetwork
Discord: https://discord.com/invite/jSvaXmb2cB
Twitter: https://twitter.com/oryennetwork
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XDC Network to Integrate Groundbreaking DeFi & Compliance Technology From Securrency
Securrency, a leading blockchain-based financial markets infrastructure and products company, announced today that it will deploy its proprietary Digital Asset Composer on the XDC Network, a state-of-the-art blockchain with a mature ecosystem and a particular focus on real-world applications in global trade and finance.
Digital Asset Composer is a unique no-code platform for the creation of digital assets, sophisticated financial instruments as smart contracts on blockchain networks, and crowd-sourced financial engineering in an open ecosystem of value. It will allow the XDC Network community to easily compose financial instruments and entire DeFi protocols, fractionalize real-world assets (RWAs), and create highly customized utility NFTs.
Through the deployment of Digital Asset Composer, the XDC Network aims to empower its users with more powerful and convenient means of creating value on blockchain networks than existing DeFi tools that have proliferated in recent years. Using Digital Asset Composer along with pre-populated asset class building blocks, users will be able to rapidly create and customize a variety of DeFi protocols that span lending and borrowing, yield aggregation, asset management, and derivatives. The result is a community of network users who are empowered to create entirely new protocols, as well as to extend their own versions of the most popular protocols in the market, much more rapidly than is currently possible.
Securrency will further empower XDC Network users to create institutional-grade digital assets and protocols by integrating its Digital Asset Composer platform with Securrency’s Compliance Aware Token Framework and the Securrency Compliance Oracle. The combination of these two powerful technologies means that users will be able to issue tokens that are deemed to be regulated securities and exchange these tokens across different venues and multiple jurisdictions on the XDC Network. Further, Securrency’s Compliance Aware Token Framework will enable identity-proofed persons to recover an enabled asset in the event of loss of keys, theft, or enforcement actions.
“This is an important development for the XDC Network ecosystem and for institutional adoption of digital assets,” said Atul Khekade, founding director of the XDC Network. “Our collaboration with Securrency addresses several regulatory and institutional stakeholder concerns regarding establishing and maintaining control of assets, especially in regard to regulated financial instruments such as digital bonds, trade finance distribution, stablecoins, and central bank digital currencies (CBDCs).”
Dan Doney, CEO of Securrency, added, “We are extremely pleased to be partnering with the core team and the wider XDC Network community to deploy Digital Asset Composer and enable decentralized access to next-gen financial processes and digitally-native assets in a way that is decentralized, highly composable, and requires minimal blockchain knowledge. Securrency and the XDC Network have put a serious marker down in terms of innovation within the space.”
Securrency, Inc., is a group of companies with a common mission to transform capital markets and enable global liquidity and universal access through technology. Centered around Securrency Solutions Technologies, a blockchain-based capital markets infrastructure and products company, Securrency develops and deploys proprietary and patented technologies through third-party customers and strategic partners, as well as through its organic Group financial services subsidiaries. Founded in 2015, Securrency has been a first-mover in institutional-grade blockchain tokenization and decentralized finance boasting, among other technologies in its deep technology stack, a unique interoperable compliance framework to enable the real-time movement of value and a powerful smart contract composer to automate complex financial operations at scale. Through its strong partnerships with some of the largest and most important global financial institutions, its strategic positioning in the US, the UK, Europe, and the Middle East, Securrency has firmly established itself as one of the leading blockchain technology companies in the world.
XDC Network is a leading enterprise ready hybrid blockchain for global trade and finance.
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A Mix of Dogecoin and Stellar DeFi Solutions
Thousands of cryptocurrency projects are active today, but only a few prioritize user and environmental welfare. As a new crypto platform, Big Eyes Coin aims to deliver services that will make them essential to people and the environment.
The architecture of Big Eyes Coin offers outstanding crypto services like NFTs, Metaverse, etc. The platform plans to combine making money with caring for the environment through its services.
In the Big Eyes Coin ecosystem, there are no restrictions on what you can enjoy, and sufficient plans have been laid out to accomplish those goals. The project will reside on the Ethereum network.
Furthermore, the team behind the project will relentlessly achieve all the objectives on its roadmap. There are also plans to conduct a rigorous marketing and publicity campaign for the project.
All these techniques will draw much-needed attention to the project and enable users to earn more. Big Eyes Coin plans to take care of the environment by spending 5% of profits from the project on foundations that improve the purity of the seas, oceans, and the animals within.
Big Eyes Coin Academy
The Big Eyes Coin project team noticed from market research that most of the world’s population is still overwhelmed by the complexities of DeFi. This observation made Big Eyes Coin integrate a tutorial section that simplifies the concept in the best possible way.
Big Eyes Coin Token
The utility currency in the Big Eyes Coin ecosystem is the BIG token. It is an ERC-20 compliant token established on the Ethereum network. All significant activities on the Big Eyes Coin platform will revolve around this token. Buying and selling BIG tokens attracts no tax.
Contrasting Big Eyes Coin Token to its rivals
Dogecoin (DOGE)
Dogecoin is a dog-themed token created by Billy Markus and Jackson Palmer in 2013. It is an open-source project and the flagship meme token built around an internet meme aimed to poke fun at bitcoin.
Unlike Bitcoin, which adopted Scrypt technology, Dogecoin has different functionalities. This technology made Dogecoin offer a faster and environmentally friendly mining process.
A non-profit foundation was created in 2014 by a handful of members of the Dogecoin team to offer support and trademark protection for the project. Unfortunately, this foundation ceased operations before relaunching in 2021.
DOGE, the native coin of the project, is gaining more popularity by the day. Many companies, including Tesla, Twitch, and Newegg, accept DOGE as a payment method.
Stellar (XLM)
Stellar was officially launched in 2015 by stellar.org to connect the world financial system. Stellar is a decentralized peer-to-peer network that establishes a protocol for financial institutions and payment providers.
Stellar’s architecture enables financial resources to be transferred smoothly and swiftly at a minimal cost. Stellar integrates people, banks, cryptos, and payment processors into one platform.
Stellar acts as a decentralized exchange DEX and marketplace with an in-built order book for tracking owners of Stellar assets. The stellar network also boasts of swift transaction speed with its adoption of the Stellar consensus mechanism.
This protocol allows Stellar to execute transactions within 3-5 seconds. This speed is faster than any bank transfer or international wire payment. The algorithm also allows Stellar to handle thousands of transactions in a second.
The native digital currency of Stellar is Lumen, or XLM, which acts as an intermediary coin for the swapping process. A fixed 0.00001 XLM fee is charged for every transaction with XLM.
How to buy the BIG token
To take part in the presale and get your share of the BIG token, use the following steps;
- Install the official metamask extension on your browser via https://metamask.io/, while trustwallet is recommended for mobile users.
- Register for a Metamask account and store your recovery phrase safely.
- Get some BNB, ETH, or USDT as payment tokens.
- Visit the official presale webpage through https://bigeyes.space/#signup and connect your registered wallet.
- Supply all the requested information and input the amount you wish to buy.
- Select your payment token and click “Buy.”
- The BIG token will be sent to you as soon as the presale concludes.
The Big Eyes Coin team is unleashing an ecosystem for users to have fun, earn money, and be functional members of society. Buy the token now to enjoy its benefits.
Join Below:
Presale: https://buy.bigeyes.space/
Website: https://bigeyes.space/
Telegram: https://t.me/BIGEYESOFFICIAL
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One Stop For IDO/INO/IGO & Metaverse and Multi Defi Protocols.
Polkastation combines various DeFi protocols, NFT minting, and marketplace with the Polkadot framework as its base. Though early blockchains serve the purpose of deploying decentralized applications, there are limitations like lack of run-time specialization and limited throughput.
Polkastation wants to deliver a cutting-edge project in the blockchain space and thus chooses Polkadot, bridging multiple specialized chains into one sharded network. Polkadot offers the best returns in the market through various products. As these decentralized applications are deployed on Polkastation’s own blockchains, they have enhanced stability.
PolkaStation Ecosystem Live Dapps:
PolkaSwap:
Polkastation’s swap allows the instant exchange of two non-native tokens of two different blockchain protocols without any centralized cryptocurrency exchanges. Instead, the operations are decentralized, fueled by smart contracts. Polkastation’s swap also allows the users to add liquidity to pools. You can add your POLKA tokens to the liquidity pools in return for LP tokens. These LP tokens represent your contribution to the addition of liquidity, and you will be rewarded accordingly.
NFT Space:
Polkastation has an entire NFT ecosystem that facilitates the users to mint their artworks into NFTs, display them in their creator profiles, and make money by selling them on the NFT marketplace. One must need an artist account to create and sell NFTs in the Polkastation NFT marketplace. When a buyer makes an auction to buy your NFTs, the order will be stacked in the order book and executed. With Polkastation, your NFTs need not sit idle in the wallets. Polkastaion allows users to attach their NFTs to the NFT staking protocol in exchange for staking rewards. So, you can earn extra rewards for your NFTs while you still remain the owner.
Farming:
The Polkastation AMM engine eliminates the need for intermediaries to carry out trades with the help of farms. Instead, the liquidity providers add LP tokens to the investment pools and get rewarded through yield farming. To enhance liquidity and make an asset a lucrative trade, Polkastation holds the investors’ funds. The period when a liquidity provider waits for the asset’s price to go up is yield farming.
IDO Staking Pools:
Polkastation’s IDO staking pool is the easiest way of earning more POLKAS tokens. Two different pools allow you to stake POLKAS and earn POLKAS in return. The first POLKAS-POLKAS pool has a locking period of 30 days and offers an APR of 30%, while the second pool has a threshold lock-in of 60 days and a 50% APR.
LaunchStation:
Polkastation offers two different fundraising mechanisms, the INO and IDO. Initial NFT Offerings helps projects with innovative ideas to reach a broader and up-to-date web3 community. It helps the projects raise funds with seamless access to instant liquidity before they are functional in the market. The projects can run IDO on Polkastation after the vetting schedule process. They can offer their project tokens for a fixed price, and Polkastation allows users to lock their funds in return for the tokens. Polkastation then distributes the tokens to the investors with the help of smart contracts during the token generation event (TGE).
Yield Aggregator:
With hundreds of yield farms on the market daily, keeping track of the best-performing ones is tedious. If so, we can track a few; they are not accessible from a single point. To solve this problem, Polkstation has developed a Yield Aggregator to collate multiple best-performing farms in a single place. Polkastation hunts for yield optimization and secures farms in the market to help its community members maximize the yield.
PolkaStation (POLKAS) is a Binance smart chain Bep20 token that is solely focused on providing holders with long-term holding benefits through staking, investment opportunity in their foundation and real use case for the entire ecosystem.
Token Contract: 0x81402bdf885a930ccf2175b66fbd435486b33f69
Blockchain: BSC chain
Total Supply: 50 Million
Maximum Supply: 50 Million
Buy/Sell Fee: There is No Buy & Sell Fees
PolkaStation Team has been KYC verified By CyberScope & SmarContract Audit By
Coinsult, Solidproof, Cyberscope.
Liquidity Locking: 5 years in Pinksale Platform
Team Tokens Locking: 2 Years in Pinksale Platform
PolkaStation Private Sale will begin on September 24th and will be hosted on our Private Sale LaunchStation.
Bonus Structure: Who will participate in private Sale will benefit upto 20% on public Sale (Pink Sale ) price & 32% on pancake swap listing Price of POLKAS Token.
Private Sale Vesting: 50% Unlock on TGE Remaining 50% Will Be Unlock on NOV 7Th 16 UTC
Hardcap: 100 BNB
Softcap: 50 BNB
PrivateSale Link: https://www.polkastation.finance/sale/privatesale
PolkaStation will host public sale on October 1ST at popular launchpad Pinksale. Trading will get live after the end of public sale.
Hardcap: 1000 BNB
Softcap: 510 BNB
Token vesting: No Vesting Schedule For Presale Tokens
Bonus Structure: Who will participate in Public Sale on Pink Sale platform will benefit upto 15% on pancake swap listing Price of POLKAS Token.
Pinksale Presale link: https://www.pinksale.finance/launchpad/0xeb26b81D6A8cEdE205B5B0EEd25E9Ba795b74257?chain=BSC
Read Whitepaper : https://polkastation.finance/pdf/whitepaper.pdf
Get more Details About PolkaStation:
Website: https://polkastation.finance
Twitter: https://twitter.com/PolkaStation
Linkedin: https://www.linkedin.com/company/polkastation
Reddit: https://www.reddit.com/user/Polkastation
Medium: https://medium.com/@polkastation2022
Telegram Channel: https://t.me/Polkastation_Press
Telegram Group: https://t.me/Polkastation_Discussions
YouTube Channel: https://www.youtube.com/channel/UCBlst9AmuzsH4yjy6YIgVGQ
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Amidst Crypto Market Crash, Defi Projects Consider Reloading Their Treasures – Coinpedia – Fintech & Cryptocurreny News Media
Some of the most critical projects in decentralized finance created as a parallel universe to traditional lending but without intermediaries like brokerages and banks, are still suffering from the winter’s collapse of the sector.
The primary developer for the Defi lending project Aave is asking for $16.28 million from the decentralized autonomous organization that manages the protocol.
This is the first time that our development team has ever asked for money from the Aave DAO, as stated in our proposal. The vote on the plan which will close on Sept. 8–has already received enough support for approval. Aave protocol has become increasingly complex as it developed, so the costs of upkeep have also increased.
“It takes experienced developers with numerous skill sets to construct a reliable and innovative version of a protocol, such as Aave V3. They should be paid appropriately for their efforts.” the proposal stated.
The struggle isn’t limited to Aave. Lido DAO, which manages Lido Finance, is one of the most popular projects when it comes to the overall value of crypto locked on its platform, has voted to sell 10 million LIDO tokens worth $20 million to venture capital firm Dragonfly Capital.
Defi get billions of dollars in investment this year
Defi became incredibly popular this year, with billions of dollars being invested into the sector. This activity led to millions of dollars in revenue. However, during the current bear market, the value of treasuries for top Defi projects has decreased significantly along with token prices. This has led to decreased revenue and increased costs, putting pressure on projects.
Jacob Blish, head of business development at Lido Finance said that Lido has focused on everything else but managing its money in the middle of the bull market.
Aave DAO’s liquid assets are currently valued at $378 million, as opposed to the earlier $800 million in April. On the other hand, Lido DAO saw a decrease in value for its liquid assets, dropping down to around $344 million from an estimation of about $800 million.
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Want to Make 100x From The DeFi Market Potentially? Try Big Eyes Coin, Ripple, and Unus Sed Leo
Undoubtedly, one of the financial markets with the quickest and most promising development rate is the cryptocurrency market. The crypto ecosystem exclusively concentrates on digital assets that are not controlled by any one body, unlike other markets that actively exchange real-life or physical goods.
Finding high-potential coins to invest in is all that is required. A lot of possibility for growth exists for many cryptocurrencies, and especially Unus Sed Leo (UNUS), Ripple (XRP), and Big Eyes Coin (BIG) are the coins to watch for potentially high gains.
The Amazing Ripple (XRP) Effect
Being a cryptocurrency and digital settlement network for monetary operations, Ripple (XRP) is a multi-purpose Platform. Chris Larsen and Jed McCaleb, the platform’s co-founders, made it available for the first time in 2012. Bearing several similarities with the SWIFT system, which serves as a network for international money and security transfers, and is widely employed by banks and financial intermediaries trading across currencies, Ripple’s primary operation is a payment settlement asset exchange and remittance network.
XRP, the native cryptocurrency token of the Ripple network, was released the same year the network was launched. The token was created to act as a middleman for transactions involving two different currencies or networks. In September 2013, Ripple Labs replaced OpenCoin. On the Ripple network, a transaction only costs 0.00001 XRP or around one cent at the moment’s exchange rates. Confirmations of transactions happen quite quickly. They often take four to five seconds, as opposed to the days banks could need to complete a wire transfer or the moments or even hours it might take for Bitcoin transactions to be validated.
Unus Sed Leo (LEO) – The Crypto to Watch
The term Unus Sed Leo stands for “one but a lion.” Because it was introduced on the Ethereum and EOS blockchains, it provides token holders and investors with more advantages than anyone previously anticipated.
The most recent cryptocurrency project of iFinex, the parent firm of the Bitfinex cryptocurrency exchange, is Unus Sed Led (LEO), which was introduced via an initial exchange offering (IEO) in May 2019. After the US authorities seized cash held by Crypto Capital, Bitfinex’s previous payment processor, the coin was introduced.
Leo is a dual-chain utility token that exists on the Ethereum and EOS blockchains. It was not the first decentralized cryptocurrency to be introduced during the stormy history of iFinex. LEO is one of the only cryptocurrencies with a restricted lifetime built into its protocols, which is just one of the project’s many distinctive features.
For every 10,000 USDT of UNUS SED LEO tokens held on the trader’s balance sheet during the preceding month, token holders get a discount of 0.05%. Every day of the month is taken into consideration while computing results. The greatest reduction is 5%.
What is Big Eyes Coin (BIG)?
Since it will be launched soon, The Big Eyes Coin (BIG) intends to utilize various strategies to increase its popularity and adoption. The first strategy entails acquiring customers by exerting influence on social media. Its first success will depend on how well and widely used the platform is at this early stage.
Initiatives that could benefit the industry. Users can earn money via these initiatives and get entry to upcoming Big Eyes Events. This is closely followed by promoting a list of the top 10 community-based non-fungible tokens (NFTs). These NFTs will play a significant role on the platform and raise awareness. The site will launch a club called Big Eyes Sushi. Users must purchase a Non-Fungible Token from the platform to get entry.
Big Eyes Coin (BIG) will generate money for the last stage via creating and selling tangible and digital goods. The platform’s cryptocurrency and ocean charity programs will be expanded with the money generated.
The platform is eager to benefit both its users and the wider community. A Visible Charity Wallet with 5% of the tokens will exist with the sole objective of preserving the seas.
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Top 3 DeFi Tokens To Buy Now
T he crypto market is currently experiencing a crypto winter as a result of soaring inflation, restrictive monetary policies, and a lack of liquidity. Between 70% and 90% of the value of tokens were lost in the crypto crash of June.
While buyers continue to profit, the cryptocurrency market is still a desirable financial alternative for investors. Cryptocurrencies that defied the weak market and maintained stability during their ascent deserve praise for this.
A few cryptocurrencies with a bright future are Cosmos (ATOM), Algorand (ALGO), and PrivaCrip Network (PRCR). Keep reading to discover more about these cryptocurrencies.
Cosmos (ATOM)
Cosmos (ATOM) is a crypto project that aims to connect several blockchains. The platform has developed a currency called ATOM to facilitate its ecosystem. Cosmos (ATOM) is a blockchain with a focus on inter-blockchain communication.
Blockchains that are part of the Cosmos ecosystem can be mounted and work together. Because it supports an architecture that enables Blockchain to thrive in unison, Cosmos is known as the internet of Blockchains.
On the Cosmos network, services can be purchased with ATOM. Additionally, Cosmos (ATOM) can be used to stake validators. The more ATOM you stake, the higher your chances of receiving gifts and bonuses.
The ATOM token can also be used for holding, spending, and transmitting. It is also essential for preserving interoperability between all zones in the larger Cosmos network. As a result, when more blockchains are developed on the network and rely on the Cosmos Hub to store their transaction histories, ATOM may grow in value. Users can vote on network enhancements by owning and staking ATOM, and each vote is proportional to the amount of ATOM staked.
Algorand (ALGO)
Algorand (ALGO) is a decentralized, independent blockchain network that provides a huge selection of safe, effective, and scalable applications. It is the first blockchain that is solely based on proof-of-stake (PoS), and it was constructed with the future of finance in mind.
A group of very effective layer 1 blockchains that enable security, scalability, privacy, and transaction finality are provided by Algorand’s technology. A layer-1 blockchain is a collection of improvements to the core protocol that increases the system’s scalability. The two most common layer-1 possibilities are improvements to the consensus process and sharding.
The Algorand (ALGO) blockchain surpasses earlier blockchain protocols thanks to several enhancements, including the special pure-proof-of-stake (PPoS) method (Algorand’s proof-of-stake protocol) employed to obtain decentralized consensus.
The purpose of PPoS is to prevent the problem of the “rich getting richer.” In essence, PPoS selects miners at random, regardless of their investment in the system, whereas PoS pays miners with the biggest stake.
PrivaCrip Network (PRCR)
PrivaCrip Network (PRCR) is a layer-1 solution created with the Cosmos SDK that utilizes proof-of-stake (PoS) by utilizing the Byzantine fault-tolerant consensus algorithms of Tendermint.
PrivaCrip, which uses the Cosmos InterBlockchain Communication protocol, is chain agnostic and interoperable with a wide range of networks because it is a layer one solution.
The PrivaCrip protocol makes use of Trusted Execution Environments (TEE) that are included in the hardware specification for all network validator nodes, key management, encryption protocols, and encryption keys to secure data privacy.
PrivaCrip Network (PRCR) will also make use of Tokenized Data to drive the upcoming age of protection first applications and open another capable information society.
The native token, PRCR is used for governance, transactions, and gas costs. Programmable privacy is a feature of the protocol that allows applications to design arbitrarily complicated data privacy safeguards.
Tokens can be wrapped in their private and fungible equivalents using programmable privacy by using a private contract that follows the PrivaCrip Network SNIP-20 standard. Additionally, to encourage protocol adoption, a generous inflation rate attracts users, developers, and stakeholders, with the understanding that the inflation rate can be changed in the future via a governance proposal.
Presale discounts will be available at 7%, 4%, and 2% respectively for the first, second, and third stages. Click on the links below to access more information about PrivaCrip Network (PRCR).
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