Ethereum’s future is bright. Over the last 12 months the Ethereum community — a global collection of developers, entrepreneurs, researchers, and passionate users — has made tremendous progress. Every week, new applications built on Ethereum launch to mainnet, scalability solutions come online, and ETH 2.0 moves closer to key milestones. Ethereum remains the de-facto platform for decentralized applications, and is used every day to secure billions of dollars in digital assets.
The Ethereum Foundation’s team is thrilled to see the progress happening across the community. We have worked to support the ecosystem since Ethereum’s earliest days as a non-profit dedicated only to doing what is best for Ethereum.
As the ecosystem has matured, the Ethereum Foundation has refined its focus. “Doing what is best for Ethereum” doesn’t mean trying to do everything — it means focusing on where we can add the most value, and leaving space for others to add value in the areas that they will be the most effective.
So what is the Ethereum Foundation’s role today?
The Ethereum Foundation is a resource allocator, a voice in the ecosystem, and an advocate for Ethereum to the world.
Today, the Foundation holds approximately 0.6% of all ETH, as well as reserves held in cash. These resources are intended to decrease over time, as they are invested in critical work across the ecosystem. These are significant amounts of capital but they are not infinite. It is our responsibility to ensure that every last dollar and wei is spent effectively.
We are also working to grow the Ethereum ecosystem’s funding base. This means encouraging other organizations besides the Foundation to support high-priority projects, and supporting innovative mechanisms for funding, including Gitcoin grants and MolochDAO. Efforts like these give us better leverage from our existing resources, and help build a sustainable path for funding vital projects far into the future.
A voice in the ecosystem
We understand that many look to the Foundation as a valued voice even as we move to proactively empower others. That voice is a resource that can be used effectively to advance Ethereum. We are able to, for instance, bring attention to important but relatively unknown projects, share valuable information about Ethereum’s progress with the public, and encourage the growth of regional Ethereum communities.
Moving forward, expect the Ethereum Foundation to be a more active voice in the Ethereum community.
An advocate for Ethereum to the world
To the outside world, Ethereum can be confusing — and that’s probably an understatement. Many newcomers don’t understand our vibrant and decentralized ecosystem because they’ve never seen anything like it before.
When someone (a major company, a government or a regular person) finds their way into our world, the Ethereum Foundation is often their first stop. The first thing we tend explain is that the Ethereum ecosystem is distributed and not owned or operated by any foundation or organization. Our Foundation helps to represent Ethereum to the outside world as an effective portal that people can pass through to the ecosystem itself.
We also recognize a need to take more initiative in growing the Ethereum ecosystem, on-boarding developers and improving the developer experience. As discussed in more detail below, we intend to deploy significant resources towards these goals.
2. Our Philosophy
Ethereum is not a typical open-source project, and the Foundation is not a typical organization. Successfully fostering a vibrant decentralized Ethereum ecosystem requires a specialized approach.
Even as we deploy significant resources across the ecosystem to improve Ethereum, we must do so in a way that maintains the core spirit of decentralization. We have deliberately adopted a philosophy of subtraction, which informs everything that we do.
In plain language, following a philosophy of subtraction means resisting the natural tendency of organizations to grow and accumulate value within themselves, and ensure instead that this value is created outside the Foundation in the broader Ethereum ecosystem.
The Ethereum Foundation succeeds if Ethereum succeeds, and Ethereum succeeds with a strong decentralized community. That understanding governs how we work.
3. Highlights from Ethereum Foundation-supported teams
The last 12 months have been a crucial period for Ethereum, and we have worked extremely hard to support teams across the ecosystem. Encompassing all the progress made by teams supported by the EF in this letter is impossible, but here is a selected sample:
ETH 2.0 client teams
ETH 2.0 is a name given to a set of transformative upgrades for the Ethereum protocol. Last year, this effort moved from a research project to an engineering effort. Client teams supported by the Foundation including Nimbus, Prysm, Sigma Prime, and Substrate Shasper are among those working to turn ETH 2.0 into a reality.
Over the last few months the Nimbus, Prysm, and Sigma Prime’s Lighthouse testnets have launched. These teams and others are now stabilizing and optimizing their clients, getting ready for multi-client testnets.
Many resources are shifting into testing, fuzzing, and audits over the coming months. We engaged Runtime Verification to formally verify the deposit contract and to formally specify the Beacon Chain. This is in addition to considerable effort by the research, development, and security teams involved in ETH 2.0 toward reliability and security.
The ETH 1.x initiative, which started last year, focuses on improving Ethereum’s short term scalability and sustainability with an eye to easing the transition to ETH 2.0. Efforts we’ve funded include Alexey Akhunov’s research into stateless clients and state fees, and Andrew Ashikhmin’s research into sync protocol improvements.
Work continues on essential projects like Geth and Solidity as well, and regular updates from all supported teams are on the way.
ZK-rollup uses succinct zero-knowledge proofs to enable Ethereum to reach hundreds of transactions per second. We’ve supported Barry Whitehat and Matter Labs’ collaboration, which has led the way on research, development, and implementation.
ETHGlobal hosts Ethereum hackathons around the world, focused on on-boarding new developers into the ecosystem and facilitating project and company creation. At a recent event, ETHCapeTown, 70% of attendees were from South Africa and 40% of attendees were new to Ethereum.
Ethereum Academic and Research Collaboration
The Ethereum Foundation hosted three research workshops at Stanford and MIT, through which dozens of talented mathematicians, computer scientists, and economists were introduced to research problems originating in Ethereum. Many have continued working on these problems, leading to progress in areas essential to the future of Ethereum including Casper CBC, VDFs, Plasma constructions, succinct zero knowledge proof based systems, liveness, and safety bounds for Ethereum 2.0 among others.
Additionally, the Cryptophage collaboration between the Ethereum Foundation, Supranational, and Protocol Labs produced a solution to renowned cryptographer Ron Rivest’s LCS35 time capsule crypto-puzzle that required only two months, as opposed to the projected 35 years.
Working with prominent organizations to encourage their engagement with the Ethereum ecosystem
In our role as an advocate for Ethereum to the outside world, the Foundation has worked to encourage high profile organizations to engage with Ethereum in ways that strengthen the whole ecosystem.
Notably, we have been working closely with Microsoft Azure’s team in a long-term commitment to support the Ethereum developer experience through Visual Studio Code and the new Azure Blockchain service.
We have also connected with large entities like HTC and Opera, encouraging them to engage with the Ethereum community and support Ethereum-based applications, and with non-corporate organizations like UNICEF to help find ways to use Ethereum for social good.
There’s a lot more being done by Foundation-supported teams than just the examples listed above. Stay tuned for more updates coming from these teams in the next few weeks.
4. Allocating Resources over the next 12 months.
An ecosystem-level view for Ethereum support
Today, we’re excited to share more information about the Foundation’s priorities for the next year, and how we expect to allocate resources across the ecosystem.
As we’ve learned and iterated, we’ve made necessary changes to our processes and priorities. When the Ethereum ecosystem was much smaller, it made sense for the Foundation to prioritize several “in-house” teams to work on the most fundamental projects. As the community grew, we began a Grants program that enabled us to support more teams throughout the ecosystem.
Today, it shouldn’t matter to the Foundation whether a project is “internal” or “external”. What matters is that we’re spending resources effectively, and that Ethereum’s goals are accomplished. This is why we are moving toward an “ecosystem level view” when allocating resources by looking at the whole picture rather than at a subset of it.
Over the next year, the Ethereum Foundation plans to spend $30 million USD on key projects across the ecosystem. This budget is insulated against downward ETH price movement.
We believe that this is a critical time for Ethereum, justifying significant investments in important work across the ecosystem.
Allocating across such a large and vibrant ecosystem is a substantial optimization challenge. We are constantly re-evaluating and optimizing our decisions, and new opportunities for leverage appear every day.
To help clarify how we define our highest priorities, we describe below three primary categories of resource allocation: (i) Building the Ethereum of tomorrow, (ii) Supporting the Ethereum of today, and (iii) Developer Growth & Awareness.
i. Building the Ethereum of tomorrow
$19 million earmarked over next 12 months
Ethereum remains a highly ambitious technical project, and significant resources are required to fund the R&D that will realize the Ethereum community’s ambitions. Critical work is underway across the ecosystem on active engineering projects like ETH 2.0, and on more long-term investments like growing the academic community’s involvement in Ethereum technology.
- ETH 2.0: Client teams, Research, VDF, documentation and communication
- Layer 2: State channels & Plasma
- Continuing work on eWASM
- Smart contract languages
- Formal verification, auditing, and specification work
- Zero-knowledge R&D, including ZoKrates
- Ethereum “Phase 3 and Beyond” R&D
- Working directly with academic institutions and attracting exceptional research talent
ii. Supporting the Ethereum of today
$8 million earmarked over next 12 months.
Ethereum is used in production today to secure billions of dollars of assets and as a base layer for many hundreds of live applications. We believe that it is vital to continue supporting these efforts to ensure that “Ethereum 1.0” continues to be the world’s dominant smart-contract platform.
- Many initiatives under the banner of “ETH 1.x”
- Web3.js and Ethers.js
iii. Developer Growth & Awareness
$3 million earmarked over next 12 months
Developers, developers, developers.
Ethereum is a platform and the developers who build on it are a key part of our future. It is critical to invest in developer relations, education, and on-boarding today in order to grow the Ethereum community and to ensure our continued success. This is especially important in Asia, where significant opportunity exists for Ethereum to grow.
This figure also includes more traditional efforts to grow awareness of Ethereum, through marketing efforts at both technical audiences and at users of Ethereum-based applications.
- Developer education & on-boarding
- Supporting community event organizations focused on developers, like ETHGlobal
- Continuing to run Devcon as a yearly gathering for the Ethereum ecosystem
- Supporting regional Ethereum community organizations
- Developer experience improvements and developer tooling
- Attracting exceptional developer talent
- Encouraging browsers and other mass consumer technologies to seamlessly integrate Ethereum into their user experiences
- Continued improvements to ethereum.org
ZKSpace Unveils Major Development: Expansion into BRC20 and Initial Plan for 2.0 Tokenomics Trilogy
ZKSpace has recently announced two significant developments: its expansion into the BRC20 ecosystem and the unveiling of its Tokenomics 2.0 Trilogy.
Expansion into the BRC20 Ecosystem:
- Background: Following the BTC network’s Taproot upgrade, the BRC20 ecosystem has gained traction in the cryptocurrency domain. ZKSpace is now pivoting towards this ecosystem to meet growing user demand and diversify its product offerings.
- Strategic Focus: The move aims to align with user preferences, leverage the ZKSpace team’s expertise in Zero-Knowledge Proof, and enhance the value of ZKS token holders.
- Initiatives: ZKSpace plans to introduce a suite of products and services tailored to the BRC20 ecosystem, including a BRC20 Exchange, BRC20 Info, and a BTC Layer2 wallet.
- Roadmap: Key milestones include the introduction of ZKSwap (zkSync version), cross-chain functionality with BZKSwap, and the launch of a comprehensive BTC ZKVM solution for a decentralized BTC Layer2 DEX.
Tokenomics 2.0 Trilogy:
- Token Supply Adjustment: ZKSpace has decided to burn 40% of the total ZKS token supply, reducing the uncirculated supply from 440 million to 40 million tokens. This move aims to create a deflationary effect on the non-circulated portion of the tokens by over 90%. The token burn is commenced for completion by December 31, 2023.
- New Use Cases: In 2024, ZKS tokens will be upgraded to dual-chain Layer2 governance tokens, operable on both ETH and BTC networks. This includes the migration of a portion of ZKS tokens to the BTC network, with profits dedicated to accelerating the token’s deflationary plan.
- Future Developments: This token burn is the first phase of the innovative Tokenomics 2.0 model trilogy. ZKSpace is also planning a series of products for the BTC ecosystem and a significant brand evolution.
These developments by ZKSpace mark a strategic shift towards embracing the BRC20 ecosystem and innovating its tokenomics. The company is set to enhance its product offerings and user experience, while also adding value to its ZKS token holders. Stay tuned for more updates as ZKSpace continues to evolve and expand its presence in the cryptocurrency market.
Rand Launches the RND Utility Token to the Market
Rand, a Spanish-based FinTech company, has announced the upcoming launch of its utility token, RND, which aims to revolutionize the way Europeans save and create long-term wealth.
The token can be issued once Rand’s growth reaches a year, with a remarkable monthly growth rate of 19% users and more than 4 million euros in managed assets, backed by a 6.5 million euro investment. Founded in 2022, Rand is registered with the Bank of Spain (D697), operates in collaboration Pecunia Cards, and aims to become one of the most relevant savings platforms in Europe in the near future. Present in 24 countries and over 20,000 customers.
The RND token will be launched through BitMart, Uniswap, and Bit2Me platforms, commencing on November 21 and 29, respectively.
Its goal is to end this year with more than 40,000 registered users and reach 120,000 users by 2024. The company has assembled a team of experts from companies such as PwC, Facebook, Google, Goldman Sachs, and Deutsche Bank to achieve this vision.
Pol Martín, founder and CEO, explains that “Rand seeks to provide high-yield savings, paving the way for a more prosperous financial future. With our exclusive technology and esteemed registration as a custodian and crypto asset exchange recognized by the Bank of Spain, we are establishing our prominent presence as a groundbreaking project in the financial industry.”
The RND token will be the exchange currency in Europe’s first tokenized subscription system available from November 23rd, providing benefits to holders, crucial for accessing Rand Pro. Rand Pro transforms monthly subscriptions into a value exchange. The maximum number of tokens to be created or available for use on the network is 200 billion.
The token serves as the key to obtaining Rand Pro membership, allowing users to acquire “Pro” status and enjoy all the associated benefits. For example, users can obtain RND tokens for free within the app through actions that contribute to improving, strengthening, or expanding the Rand ecosystem. Some of the activities that result in the generation of tokens are transferring payroll to Rand’s current account or keeping a balance of over €500 for a minimum of 15 days in the Earn account.
Vertex Protocol to launch $VRTX Token and hold Bootstrapping Liquidity Auction (LBA)
Vertex Protocol, one of the fastest-growing DeFi exchanges, announced today that it will be launching the $VRTX Token and holding a Bootstrapping Liquidity Auction (LBA).
The purpose of the LBA is to enable gradual price discovery and also to set a fair market price for the $VRTX Token. The LBA will start on 13 November and last until 20 November until the $VRTX Token is launched, and users will be able to participate by either supplying $VRTX trading rewards and/or USDC.e to the auction up until day five (17 November).
“The Vertex LBA is an opportunity to establish a fair market price for $VRTX and base of initial liquidity, while rewarding early Vertex users for their contributions to the protocol,” said co-founder Darius Tabatabai. “We want the market to set the price for $VRTX, rather than us arbitrarily setting one, and we believe this will create more opportunity and access for all users rather than a select few.”
Vertex is using the LBA as a fair token genesis mechanism meant to seed initial liquidity while promoting fairness, less volatility, and avoidance of launching with a set price that may or may not reflect the actual market price for the token. The auction will consist of two pools, one comprised of USDC.e, and another with $VRTX. Both liquidity pools are single-sided, and only accept the designated token meant for that pool.
The Vertex LBA will consist of three stages:
- Stage 1: Seven-day auction
- Stage 2: $VRTX Token launch and liquid claiming
- Stage 3: Post-LBA vesting and $VRTX tokenomics
Anyone can participate in the auction, but only certain users are able to contribute to the $VRTX liquidity pool. Tokens are also subject to post-LBA lockups, in certain situations. To learn more about how each stage will progress, and how to participate, please visit the Vertex Protocol blog, where everything is explained in far greater detail.
“The core Vertex product was our primary focus for the first 7 months of the DEX being live on Arbitrum mainnet ” said co-founder Alwin Peng. “We believe that we’ve created among the most inclusive incentive programs for users to buy, hold, and stake our token, and we’re excited to bring it to market.”
Post-LBA, both liquidity pools will merge into one pool, the $VRTX-USDC.e Pool, which will provide base liquidity for the $VRTX Token. Participants in the LBA will then be able to claim trading rewards earned pre-LBA, provide liquidity, swap and trade their $VRTX Tokens, or stake them to earn the benefits of providing further liquidity to the $VRTX Token.
$VRTX is the native token for Vertex Protocol, and is meant to reward loyal Vertex users with various benefits. To learn more about $VRTX, please visit the Vertex Protocol blog.
Vertex Protocol was established by a team of traders and engineers with a track record of business building in both TradFi and DeFi markets. They saw the latent market need for users to interact with DeFi in a more flexible way and decided to leverage the growing ecosystem on the Arbirtrum blockchain to bring a trading protocol to market. Today, they are excited to be at the forefront of smart contract and market innovation for Arbitrum and to help partner with some of the most exciting names in crypto to build a DeFi protocol that works for all users.
Vertex Protocol is on a mission to create the fairest exchange in crypto, and is currently one of fastest growing DeFi exchanges in operation.
To learn more, please visit www.vertexprotocol.com and/or go to the following:
Discord community: https://discord.gg/xRdut3NyG3
Public docs: https://vertex-protocol.gitbook.io/vertex-protocol/getting-started/vertex-overview
Apraemio: A Gold-Backed Cryptocurrency Project Gains Validation as HSBC Enters the Gold Tokenization Space
Apraemio, a unique digital asset backed by gold, today announced that its exchange listing will be concluded by 2024, and the gold redemption programme will start by 2025.
“We are thrilled to see HSBC enter the gold tokenization space, as this further validates our belief that gold-backed cryptocurrencies are the future of asset-backed tokens,” said Dr. Zoltán Varga, CEO of Apraemio. “Our project is built on a strong foundation of trust and transparency, and we are proud to be at the forefront of this emerging industry.”
Apraemio is a gold-backed cryptocurrency project supported by its mother company, which owns 65 sq km of land in Mali, Africa. The conglomerate company, GGS, holds exclusive rights to mine one of the largest gold reserves in Mali, and it is committed to using blockchain technology to provide investors with a secure and transparent way to invest in gold.
“We are committed to providing investors with a reliable store of value in a world of volatile cryptocurrencies; that is pretty much what we have been doing in the last 15 years,” said Dr Varga, the CEO of one of the most renowned investment gold companies – called Arteus Capital – in the Central European region, which has been active in the market for over a decade.
The Apraemio project is currently in the pre-sale phase, and the company plans to list its tokens on major cryptocurrency exchanges in 2024. The project also includes launching a gold redemption programme and opening a small-scale mine on its roadmap for the following year.
“We are excited to share this news with the world and look forward to bringing Apraemio to market,” said Dr. Zoltan Varga. “We believe that our project has the potential to revolutionize both the gold and cryptocurrency market and provide everyone with a new and inclusive way to invest in this precious metal.”
Apraemio is a gold-backed cryptocurrency project combining the best of both worlds – the heritage, stability and popularity of gold and blockchain technology’s innovation and financial freedom. The company holds exclusive rights to mine one of the largest gold reserves in Mali, Africa, and is committed to using blockchain technology to provide investors with a secure and transparent way to invest in gold.
BBG, The new vanguard of DeFi, launches on PancakeSwap
The eagerly anticipated BBGSwap decentralized DeFi platform completed its Certik smart contract audit in early October 2023 and officially opened its doors to the global community on October 20th.
Over 50,000 members have enthusiastically joined, and its innovative business model has garnered high praise from industry insiders. On the morning of November 1, 2023, BBG initialized its liquidity pool and injected liquidity on PancakeSwap.
BBGSwap is an early-stage decentralized financial platform for Web3, collaboratively developed by research institutions associated with leading exchanges and members of the Ethereum open-source community. With investor protection at its core, it is managed and operated by a mature community organization. The platform utilizes a third-generation AMM (Automated Market Maker) mechanism, offering competitive fee structures and sustainable incentive mechanisms. Users are empowered to trade cryptocurrencies with up to 100x leverage and generate earnings for investors through USDT and BBG liquidity. This model significantly alters the previous landscape characterized by low liquidity, risks of asset flash crashes, and the potential collapse of project operators. It addresses persistent challenges within the DeFi sector. Moreover, BBG, through its innovative economic model, has achieved a consensus on wealth with the community organization and aspires to collaborate with leading blockchain networks, including Ethereum, Binance Smart Chain, Avalanche, Polygon, Arbitrum, and others.
BBGSwap acts as a wealth catalyst within the DeFi realm, its coin value only appreciating and never depreciating. It incorporates scientific allocation, hash power compensation, LSD staking, targeted hash power elimination, and an inherent deflationary mechanism. This approach resolves the issue of inadequate liquidity common in traditional DeFi, creating a virtuous cycle and a logical closed loop that ensures the platform’s long-term stability and perpetual vitality.
BBGSwap has renounced control, offering open-source contracts and transparent finances, thereby addressing issues of trust more comprehensively. This clarity in financial management has won it widespread acclaim among global cryptocurrency enthusiasts. Its launch is bound to send shockwaves through traditional DeFi finance, heralding a potent disruption.
BBGSwap is distinguished by the following characteristics
- As a new generation DeFi ecological community, BBGSwap is a global DeFi industry aggregator grounded in Web3 technology, fused with a decentralized governance framework. It provides comprehensive financial services and a high-trust wealth consensus platform, enabling users to share experiences, uncover new opportunities, and build community, thereby socializing wealth creation.
- Its economic model is innovative, employing algorithmic regulation to enhance coin value. By innovating on the Uniswap protocol and transaction logic, it achieves a continual rise in coin value during the exchange process. Leveraging AI, it intelligently manages Web3 assets to maximize returns.
- As a Layer 2 solution, BBGSwap is a public chain based on an Ethereum-compatible second-layer solution. It supports Ethereum, Binance, Avalanche, Arbitrum, and other EVM-compatible chain protocols, reducing transaction costs for users through ZK Rollup technology.
In the realm of ecological development, BBGSwap has forged strategic partnerships with numerous globally listed companies and venture capital firms and is poised to expand into Southeast Asia to establish a presence in the Asia-Pacific market. It will soon enter Southeast Asia and layout the Asia-Pacific market, and BBG will soon be launched on mainstream centralized exchanges in 2024.
X-Shot by X Project: Turbocharge Your Crypto Trading with Sniper Efficiency
Are you tired of missing out on profitable cryptocurrency trading opportunities? Do you want to elevate your crypto trading game to the next level? Look no further than X-Shot by X Project. This advanced trading bot is designed to supercharge your trading experience and maximize your profitability in the crypto market. Let’s dive into the exciting world of X-Shot and discover how it can transform your crypto trading journey.
The Need for Speed: Sniper Trading
One of the standout features of X-Shot is its lightning-fast execution, surpassing traditional platforms like Uni Swap and Inch. This incredible speed allows you to capitalize on market movements as they happen, ensuring you never miss out on profitable opportunities. X-Shot employs advanced algorithms to swiftly enter and exit trades, greatly increasing the likelihood of successful transactions.
Precision Trading with Limit Orders
Say goodbye to the stress of constantly monitoring the market with X-Shot’s Limit Orders feature. You can now set specific price levels at which you want to buy or sell cryptocurrencies. This automation ensures that your trades are executed at your desired price points, even when you’re not actively watching the market. It’s a game-changer for traders who demand precision and control in their trading strategies.
Unlock Passive Income with Copy Trading
X-Shot takes your trading to a whole new level by offering a copy trading feature. With this, you can replicate the trades of experienced and successful traders. Simply select the traders you wish to follow, and X-Shot will automatically execute their trades in your own account. This means you can amplify your profits even while you sleep, making passive income a reality.
Multi Wallet Support for Streamlined Trading
Managing multiple wallets can be complex, but X-Shot simplifies the process with its multi-wallet support. This feature allows you to execute trades in multiple wallets simultaneously, making complex strategies much easier to manage and execute efficiently. With X-Shot, wallets will be automatically generated. No need to connect your wallet or provide any information.
Sniper Tools for Informed Decisions
X-Shot isn’t just about speed; it also offers you the ability to capitalize on influencer insights. You can configure the bot to buy coins automatically based on the parameters set by your preferred influencer group. This ensures that you make informed decisions and stay ahead of the curve in the crypto market. Furthermore, X-Shot will be seamlessly integrated with X-Caller, unlocking numerous opportunities to grow your capital through signals.
Premium Features for Extra Protection
X-Shot offers premium features like Limit Stop Loss to protect your investments with precision. It also provides MEV Sandwich Protection, reducing the risk of falling victim to an MEV sandwich attack by a remarkable 90%. Exclusive premium tools are accessible to X-Token holders, elevating your trading game to new heights.
X-SHOT Revenue Sharing
What’s even more exciting is that 75% of X-Shot fees are allocated to purchasing X-Tokens, enhancing their staking vault for single-asset staking. This means you can explore staking pools within the DeFi sector and enjoy consistent rewards while actively participating in the X-Project ecosystem.
Conclusion: Empowering Your Crypto Success
X-Tools, the brainchild of the X Project, has redefined the crypto trading experience by seamlessly integrating cutting-edge functionality with a user-centric design. From real-time insights and rapid transactions to a simplified token trading experience, X-Tools embodies X Project’s commitment to equipping you for your crypto success.
The $X Project forms the foundation for a range of cutting-edge utilities and services offered to the X-Community. With components like X-Growth, X-Defi, X-Tools, and X-Earn, X Project aims to empower community members, influencers, and businesses to maximize their potential within the crypto space.
In conclusion, if you’re looking to take your crypto trading to the next level and unlock the full potential of your investments, X-Shot by X Project is the ultimate solution. With its cutting-edge features and the support of the X Project ecosystem, your crypto success is just a click away. Don’t miss out on this opportunity to turbocharge your trades and achieve your financial goals.
BingX Introduces New Standard for Copy Trading with Zero Slippage
BingX, a leading global crypto exchange, is proud to announce that it has eliminated slippage in crypto copy trading with its exclusive Guaranteed Price feature. This revolutionary feature eradicates slippage concerns, ensuring that followers’ orders replicate the trader’s actions with pinpoint accuracy, setting a new benchmark for copy trading excellence.
Crypto copy trading is an automated strategy that allows followers to copy experienced traders’ trading methods. This enables one to buy and sell crypto assets to earn profits without putting in a lot of time for researching or gaining proficiency in crypto trading. Slippage in copy trading refers to the difference between the price at which a trader opens or closes a position and the price at which a follower’s copy of that trade is executed. Slippage occurs when the cryptocurrency market is volatile and prices change between the time a trader places an order and the time it gets executed for their followers. Slippage impacts the profitability of followers, leading to potentially lower profits or increased losses.
Now zero slippage is a part of BingX’s copy trading and serves as a robust slippage protection mechanism. In essence, it ensures that the opening and closing prices for followers match precisely with those of the trader they are copying. This remarkable feature eliminates the common issues associated with slippage, guaranteeing users the ultimate copy trading experience, with BingX taking on the associated risks. Now zero slippage is available in the “Per Order” model for both Standard Futures and Perpetual Futures. BingX users will be charged a fee based on their actual trading volume upon successful order execution.
Megan Nyvold, Head of Branding at BingX, expressed, “Our commitment to providing a better and efficient copy trading experience has led us to introduce the revolutionary Guaranteed Price feature, wiping out slippage concerns for our users. We understand the importance of precision and reliability in copy trading, and we’re proud to set a new standard in the industry. This innovation reflects our dedication to empowering our users and ensuring their success in the cryptocurrency markets.”
As BingX continue to push the boundaries of innovation, it remains committed to delivering cutting-edge solutions to its users. The elimination of slippage in copy trading and futures trading through the Guaranteed Price feature is just the beginning. BingX looks ahead to a future where crypto trading is reliable and profitable for all, setting a new standard that defines its dedication to excellence.
BingX is a leading crypto exchange that offers spot, derivatives, copy, and grid trading services to over 100 countries and regions worldwide with over 5 million users. BingX continues to connect users with expert traders and the platform in a safe and innovative way. Please visit https://bingx.com to learn more.
Pi Network Debuts Pi Staking in its Chat App to Improve Human Connections and Tackle Direct Messaging Spam
Pi Network, a Web3 app ecosystem and developer platform with a community of tens of millions of humans mining Pi cryptocurrency, today debuted Staked Direct Messages (Staked DMs) on the Pi Chat app. This new feature allows Pioneers (Pi Network members) the ability to access any individual in the network, via direct message, by staking their Pi cryptocurrency, deepening the utility of Pi and building a richer experience for Pioneers and prospective users worldwide.
Introduced in 2019 as Pi Network’s first chat functionality, Pi Chats quickly became the primary method for Pioneers to have open discussions with others in the network. As with most online discussion sites, the need for direct messaging capabilities on Pi Chats became apparent as more and more Pioneers expressed interest in connecting and collaborating with each other.
The Pi Network Core Team has been actively studying and testing the power of cryptoeconomics as a mechanism to solve the problems that have been facing Web2 online communications for years. Pi’s Fireside Forum, a Web3 social app that debuted in May, was the first initiative using a novel token economics model powered by Pi cryptocurrency to optimize the online social experience and address social content curation—incentivizing positive interactions with token rewards while disincentivizing the negative ones with token penalties.
“Since inception, Pi Network’s vision has always been to use blockchain technology to push the limits of its originally intended use; with Fireside Forum and now Pi Chats, Web3 token economics has the power to not only transform our online experiences, but cultivate a more authentic environment for meaningful social exchanges,” said Dr. Chengdiao Fan, one of the two Founders and Head of Product. ” Staked DMs is Pi Network’s attempt to answer this need by allowing members across the Pi Network community to message each other directly on a one-to-one basis. And thanks to its Web3 mechanism designed to signal constructive connections while curbing unwanted communications, it may ultimately solve for DM spamming problems common to Web2 platforms while allowing more accessibility.”
While Fireside Forum looked to inspire positive content interactions between Pioneers, the newest Staked DMs feature to Pi Chat calls for more authentic interactions by addressing access permission. Unlike traditional social media platforms, where direct messaging functions are hampered both by a lack of transparent access to others and an overflow of spam and low-quality noise, Pi Chats’ latest feature introduces a staking mechanism that instead focuses on promoting genuine connections.
Traditionally, Web2 has attempted incurring costs and giving rewards for screening spam. Those monetization attempts, however, have been unevenly rolled out and could turn human connections that are supposed to form organically into extrinsically motivated behavior, diverging from the original purpose of the connection itself. In comparison, Pi Network provides all users, within and outside the Pi Network community, with decentralized opportunities to connect on a level playing field through a crypto-enabled messaging system that discourages spam and information overload and can allow users to form meaningful connections with others more organically.
With Staked DMs, Pi Network helps empower users to connect while providing the potential onramp to more complex chat-based social interactions such as group chats and channels where Pioneers and external parties and projects can meet and grow at scale. By creating the first atoms of a crypto-fueled system for social access with 1-on-1 direct messaging, Pi is creating not just a new mode of interaction powered by Pi cryptocurrency, but a model for what a distributed social access mechanism network can be.
The new Pi Chats update is now available on the Pi Browser–another Pi Network mobile app which can be downloaded for free on Google Play or the Apple App Store. For more information, or to join Pi Network, please visit Minepi.com.
ABOUT PI NETWORK
Pi Network is a community of tens of millions of humans mining Pi cryptocurrency to use and build the Web3 app ecosystem. Founded in 2018 by a team of early innovators in blockchain and social computing, with PhDs from Stanford University, Pi Network is a utilities-based ecosystem for third-party apps on a mobile web platform, with widespread (rather than concentrated) token distribution. The blockchain platform offers a mobile-first mining approach, with low financial cost and a light environmental footprint within the crypto space.
Verasity burns 50% of its maximum supply following landmark community consultation
Verasity, ticker symbol VRA, has burned 50% of its maximum supply today following one of the largest community consultations in crypto history — with further plans to move 90 billion tokens, currently reserved for data circulation, to a new blockchain.
Open to over 500,000 community members and token holders, Verasity’s community consultation marks an inflection point for the project, which has transformed its position in the market through a strong focus on commercial adoption and transparent communications.
Following the consultation, the decision was taken to burn 10 billion VRA tokens, originally minted as part of a strategic reserve wallet held for future business use.
Today’s burn effectively caps VRA’s circulating supply at just ~10 billion. Verasity no longer required the 10 billion strategic reserve tokens following the commercial success of its anti-bot advertising technology offering, powered by its patented blockchain technology, ‘Proof of View’.
The company announced at the beginning of the year that its solution was already in use by clients, with business development continuing throughout 2023. Verasity can now expand operations and scale using revenue generated from its technology.
Circulating VRA, which now numbers just ~10 billion, will retain its utility within the VeraViews advertising ecosystem as a payment option for clients, for use within the VeraWallet staking ecosystem, and as a deflationary token subject to quarterly burns. Over 155 million VRA was burned in H1 2023 alone.
Today’s 10 billion burn represents one of the largest single burns of any crypto project to date, proving Verasity’s new focus on a community-led strategy that delivers value to token holders, while also remaining agile for commercial roll-out.
The Verasity team has also stated that it is actively looking for alternative blockchains to move 90 billion ‘Proof of View’ marker tokens, which facilitate data transfer for its advertising stack and do not contribute to circulating supply.
RJ Mark, CEO and Founder of Verasity, says: “Our commercial rollout is bringing greater utility to VRA through its primary use as a payments option for VeraViews campaigns. Now, our community consultation and subsequent burn of our strategic reserve tokens, some 50% of our maximum supply, proves that we’re also listening to our community and improving our crypto ecosystem. This is part of our growth strategy for 2024, where we expect huge demand for our advertising solutions, and we’re now laying the foundation for that growth.”
Verasity consistently outperforms many other altcoins across social impact, engagement, and social volume – achieving top spot on LunarCrush’s AltRank several times during 2023 out of some 4,400 tokens.
Its roadmap, and plans for future growth, can be found here: https://verasity.io/roadmap.
Verasity is an open-ledger ecosystem designed to fight advertising fraud, provide open access to infrastructure for publishers and advertisers, and reward users for watching video content. With product verticals in the advertising and video player industries, Verasity ties together its ecosystem with its patented ‘Proof of View’ blockchain-based technology.
The VRA token, which is used for funding advertising campaigns, staking through VeraWallet, and distributing Watch & Earn rewards, is central to the Verasity ecosystem as a single utility token with a whole host of applications. Verasity’s roadmap for 2023 includes the launch of the VeraCard to complement its VeraWallet offering and provide new utility for the VRA token. Learn more at www.verasity.io.
Crypto Hub Launches the First Stake to Own (S2O) Coin
Crypto Hub, a pioneering web3 agency in the cryptocurrency sector, launched its innovative Stake to Own (S2O) Coin, designed to radically change the Web3 space.
Becoming a token holder is something common nowadays in the crypto space, being however a Launchpad Owner is something completely different and much more profitable. Instead of investing in cryptocurrencies which are extremely volatile, Crypto Hub is offering Dapp Investment, which is similar to investing in a profitable and automated blockchain company that generates passive income.
$HUB is a ERC20 Token deployed on the Ethereum Network with a function that enables holders to stake it to achieve a Crypto Hub Rank, hence providing different benefits, including shared ownership of Crypto Hub Launchpad proportional to the amount of HUB Staked.
The ownership is based on the staking power the user has compared with everyone else in the staking pool. Below you can find the 3 different Ranks available and their corresponding benefits:
- APY: Annual Percentage Yield on your staked $HUB
- Commission: Percentage of Launchpad Sales generated by you (Referrals Paid)
- Discount: Discounts on all our Marketing Services (Crypto Projects)
- Platform Ownership: Share of Launchpad Profits Based on the Amount of $HUB Staked
- Diamond Access: Users can access Exclusive Presales, Staking Pools and NFT Drops
- Exclusive Member: Access to Partner Airdrops, Exclusive Investor Channel, Access to Twitter Gold (Crypto Projects).
Crypto Hub created $HUB to accomplish this shared ownership to all interested investors, and is currently selling it in a Seed Sale until 15th of October at 0.003$ each token. Below we detailed their upcoming sales:
Seed Sale Details:
Duration: From 25th September to 15th October 2023
Price: The token price for the Seed Sale is set at $0.003
Vesting: Participants can expect a vesting schedule of 10% on Token Generation Event (TGE), followed by an additional 15% released every month for the subsequent four months.
IDO Sale Details:
Duration: From 26th October to 30th October 2023
Price: The token price for the IDO Sale is set at $0.005
Vesting: Participants can expect a vesting schedule of 20% on Token Generation Event (TGE), followed by an additional 20% released every month for the subsequent four months.
HUB will be listed on Uniswap on November 1st along with a central exchange (CEX) listing to be announced on the same date.
Tokenomics & Vesting Schedule
HUB Token has a clear and fair tokenomics structure and its vesting schedule is designed to promote long-term growth and ecosystem sustainability.
Token Name | Crypto Hub
Token Ticker | HUB
Blockchain | ERC20
Total Supply | 100 000 000
Tax Fees | 2% Buy / 2% Sell
Listing Price | 0.005$
“What’s the most surprising in HUB Tokenomics is that the team members are not accounted for, which means there is a most likely possibility of its token price going up due to smaller selling pressure.” Crypto Analyst
During the $HUB Vesting period, users will be considered as if they were staking and will have access to all their Rank Benefits including Shared Ownership, Income Distribution, Special Access, Commissions and Discounts in the launchpad. This means that the moment investors buy on the Seed Sale they will have instant benefits to all Crypto Hub Launchpad Offers according to their Ranks.
For more details and any clarifications, please refer to our official channels.
CryptoHub Launchpad: https://cryptohub.investments/
Buy HUB Tokens: https://seed.cryptohub.investments/
Social Links: https://link3.to/crypto_hub_
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