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Bancor Smart Tokens Provide Solution to The Issue of Liquidity

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There are many facets to the notion of liquidity. Liquidity may be defined as the ability to convert an asset into cash readily on demand. If this definition seems myopic, you can see it as an asset that can be sold or bought at its fair price. Therefore, liquidity signifies that there are no premiums or discounts attached to an asset when selling or buying it. This makes it easy to enter and exit the asset at will.

For any tradable asset, liquidity is paramount. Liquid markets are smoother and deeper when compared to illiquid markets, which can put traders in a place from which it may be difficult to navigate out. For instance, Bitcoin has experienced significant growth within nine years of its existence. In 2009, there were only 50 Bitcoins but today, there are over 13,000,000 bitcoins in circulation. Virtual currencies or cryptocurrencies have witnessed waves of illiquidity. What are the factors that influence liquidity?

  • Exchanges: The increasing number of cryptocurrency exchanges has provided opportunities for more individuals to trade in cryptocurrency. The increase in volume and frequency of trading has contributed to enhancing liquidity.
  • Acceptance: The acceptance of cryptocurrencies at online shops, brick and mortar stores, bookings, etc. has contributed to its usability while reducing its volatility. Coins become more liquid when frequently used as a means of payment.
  • Regulations: Both direct and indirect regulations have played a crucial role. The position of cryptocurrency in each country is different – banned in certain areas, allowed in others, while in dispute elsewhere. Because of the increasing presence of cryptocurrency in the form of exchanges, ATMs, casinos, transactions in shops, financings, etc. these clarified regulations will continue to influence liquidity.
  • Awareness: Many people are practically unaware of what cryptocurrency is all about and how it works. In the midst of these are prospective investors, buyers, and traders of digital coins. Lack of clear guidelines by relevant authorities and limited knowledge has limited engagement to devotees to this moment, but as this changes, so will liquidity via increased volume and acceptance.

Then, How can one technically solve the issue of liquidity facing cryptocurrency? Below we will explore a solution provided by Bancor for addressing the challenges of liquidity faced by cryptocurrencies, conventional tokens, and community currencies. According to Bancor, the issue of liquidity can be addressed through the use of Smart Tokens, by programming tokens to be autonomously convertible for other tokens within the same network. This is achieved through the use of Connectors, which are modules in a token’s smart contract that hold balances of other tokens they are connected to.

What is the Bancor Protocol Smart Token all about?

Let’s begin with the Bancor Protocol which is the standard for what Bancor calls Smart Tokens. The method is as follows: A Smart Token is programmed with one or more connectors, which are modules in their smart contracts. Each connector holds a balance of another connected, the connected token, which can be deposited by the Smart Token creator. These balances are used by the Bancor Formula to calculate the exact price of a Smart Token in any of its connected tokens. The Smart Token can be bought and sold by depositing or withdrawing the calculated amount from its connector balances. For example, if a Smart Token has one connector which holds a balance of Ethereum, that Smart Token can be bought by sending Ethereum to the Smart Token’s contract, or sold by sending Smart Tokens back to the contract and receiving the corresponding amount of Ethereum in return.

If you haven’t heard of smart contracts, these are computer programs which run on the blockchain, meaning they are unchangeable as long as the underlying blockchain is operational. In the case of tokens, smart contracts allow for the programming of certain features, issuing policies and other attributes, directly into the token’s governing software. Bancor uses this ability to program Smart Tokens to buy and sell themselves from users, in exchange for any of their connected tokens, at an algorithmically calculated rate according to the open-source Bancor Formula. This allows Smart Tokens to be plugged into a network architecture, and continuously liquid to every other token in the network, according to a mathematical price which balances buy and sell volumes in the network (more on the formula below.)

The Bancor Protocol recommends a new solution to the issue of liquidity for cryptocurrencies by using an asynchronous price-discovery model, which is enabled by these balances holding Smart Tokens. The most unique characteristic of this solution is the fact that you can buy or sell Smart Tokens anytime, directly through their smart contracts (Bancor also offers a simple Web App user interface) without the need for an exchange or even matching buyers and sellers, as has been the case for decades. Does this sound like crypto magic to you? Let’s explain how it works.

  • Firstly it’s important to understand that Smart Tokens are money that themselves hold money, in their connector balances. What this means is that the smart contract that operates the Smart Token owns a minimum of one other token balance. This is the Smart Token’s initial liquidity “plug in” to the network, and from where the Smart Token can withdraw other tokens to sellers, and collect other tokens from buyers.
  • Secondly, the supply of a Smart Token can be dynamic, and handled by its smart contract directly. When a Smart Token is purchased by sending one of its connected tokens to the smart contract, these tokens are added to the connector balance and new Smart Token units are created and sent to the buyer. This means that a Smart Token’s supply is growing as demand for it is growing. Thankfully, so is its connector balance, so as you’ll see below, its price is also increasing. This means that increased supply does not mean inflation or dilution for Smart Token holders, since price is a factor of demand, not constrained by a traditional fixed supply. Similarly, when a Smart Token is sold, it is simply sent back to its smart contract, which withdraws the corresponding amount of connected tokens from the connector balance and returns them to the seller, and the sold Smart Token units are destroyed and removed from circulation. Price however, is still decreasing, thanks to the Bancor Formula which takes this decreased connector balance into account. You can liken this mechanism to when tokens are issued by initial coin offering smart contracts in exchange for other tokens like Ether.
  • Thirdly, is the realization that Smart Tokens calculate their own prices vis-a-vis other tokens they are connected to. This is according to the Bancor Formula which holds the ratio constant between a Smart Token’s total market cap, and its connector balance. As buys and sells add and subtract tokens from the connector balances, the price of a Smart Token will fluctuate to keep this ratio, configured by a Smart Token’s creator (and called the weight), constant. This ensures that buy and sell volumes strive for equilibrium, as a Smart Token’s price is rising when it is being bought, and falling when it is beind sold. Just as you’d expect with supply and demand principles, only here the supply can adapt to the demand, and price is calculated as a mathematical function between the Smart Token and its real-time connector balances. .

One may be thinking if all of this functionality is required, given the fact that price discovery and liquidity is already obtained via trading activity in traditional exchanges. Is there a reason for a different solution? The answer to this question is yes. This is because exchanges can be seen as “matchmakers” between individuals or parties with different wants. A particular trade comprises of two opposing transactions, one where each party is selling what the other party wants to buy. The situation where a particular party needs to find another party with opposite wants is the sole reason why currencies and other assets face liquidity risk. With this constraint, it is impossible for smaller scale currencies, such as loyalty points, community currencies, and other relevant credits, as examples, to become consistently liquid.

Additionally, people who provide liquidity such as market makers and traders are logically looking for ways to take full advantage of profits. This connotes that liquidity comes at a price or cost with the current exchange solution, allocating value to middlemen. This is why BancorSmart Tokens are unique, allowing currencies to enjoy automated and continuous liquidity, and with no added fees. The contribution or partaking of market makers and traders in their convertability isn’t compulsory, but optional for both parties. In fact, Smart Tokens may be regarded as a token with a built-in not-for-profit automated market maker for itself, being operated by its open-source smart contract.

A Bit About the Bancor Token Generation

This decentralized liquidity network Blockchain project raised approximately $153 million in Ether within three hours. Bancor was one of the most successful token launches of 2017. The token generation event took place on June 12, 2017, attracting more than 390,000 contributions in Ether, a world record in the market at the time.

Bancor’s BNT is the Bancor Network Token. According to the company, in the next two years, there will be a host of new features available to Smart Tokens, including security upgrades such as delegated account recovery, the ability to purchase them with a credit card, enabling communities without a token to easily create one without technical knowledge, and moving to a fully decentralized backend and front-end architecture, as well as taking the liquidity network completely cross-blockchain. Finally, we will see the launch of Bancor Grants, helping local communities build capacity towards launching and maintaining a local Smart Token for their economy or network, and subsidizing the BNT needed for qualifying communities to connect to the Bancor Network (via their Smart Token’s connector balance, which will be held in BNT.) Since launch, Bancor has activated their token, launched and activated Relay Tokens for over 20 ERC20 tokens which are now convertible via the Bancor Network, launched their Web App on desktop and mobile, and deployed a portable widget to enable users to convert Smart Token’s from anywhere on the Internet. This attribute alone safeguards users and enables them to convert their tokens remotely and in a decentralized fashion.

BNT holds Ether (ETH) as its connected token, making it possible to convert any token within the Bancor Network into ETH, instantaneously and without the need for matching buyers and sellers. This is groundbreaking in the blockchain world, with Bancor pioneering an autonomous technology that a technical solution for instant liquidity and eventually also the instant creation of intrinsically liquid cryptocurrencies.

What are the Benefits of Bancor Smart Tokens?

Smart Tokens bring about several benefits when compared to the traditional token model, which include:

  • No Extra Fees: Unlike the traditional token and exchange models, the only compulsory fee that is paid for converting Smart Tokens is the blockchain platform fee, which in the case of Ethereum is known as gas.
  • Continuous Liquidity: Because selling and buying are carried out through smart contracts, you can always convert Smart Tokens from/to their connected tokens, regardless of the volume of trading done.
  • Foreseeable Price Changes: The Bancor Smart Token allows for the pre-calculation of price changes according to transaction size, since each transaction itself will result in a change to the current price by adding to or subtracting from connector balances. This price predictability leads to relatively more stable prices.
  • No Spread: The same price is calculated for buying and selling Smart Tokens since the calculation of these prices is done formulaically by the non-profit smart contract, not by other buyer and seller offers, traditionally known as an order book.

In Conclusion

Bancor has discovered a way out of the historic challenge of liquidity without needing a counterparty to buy or sell a token. This is attainable through a smart contract, currently on the Ethereum network, which keeps a balance in another connected token at all times, and uses a simple formula to continuously recalculate the exact rate at which a Smart Token is convertible for any of its connected tokens, and as such, for any other token in the network. This innovation replaces traditional labor-based solutions, in the form of market makers and exchanges, both for-profit actors, with a technical solution, in the form of a non-profit smart contract that will always buy and sell Smart Tokens thanks to their built-in liquidity mechanism. This autonomous solution could offer a step-function improvement in efficiency, decentralization, accessibility, transparency, and stability for the emerging cryptocurrency economy – if Bancor can pull it off

 

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Mphasis and R3 Partner to Develop a Blockchain-Based Payments and Financing Network for Global Supply Chains

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Mphasis, an Information Technology (IT) solutions provider specializing in cloud and cognitive services, today announced its partnership with R3, a leading global enterprise software firm, to jointly create innovative blockchain-enabled payment solutions and take them to market. Leveraging R3’s blockchain platform, Corda, Mphasis is strategically extending its Payments and Trade Finance technology solutions portfolio.

The partnership will focus on the acceleration of ALTATM, the digital payments and supply chain finance ecosystem formed by Mphasis to connect global enterprises, their supply chains, and a wide range of financial services and infrastructure providers into a modern value transfer network for global trade. The solution will provide Mphasis customers with access to a suite of next generation payments, working capital, and Foreign Exchange services that can be seamlessly deployed on Corda. Corda is a blockchain platform that removes costly friction in business transactions across every industry, from financial services and healthcare to oil and gas. It enables institutions to transact directly using smart contracts, while ensuring the highest levels of privacy and security.

Recent events have highlighted the critical role that financial resilience plays in the sustainability of every supply chain, and the structural gaps that still exist in how financing is traditionally deployed. The innovative collaboration with R3 will allow small and medium sized businesses – who are typically the weakest link in most supply chains – to easily and digitally access working capital and other financial services that will help bolster and strengthen the entire supply chain. Due to the scalability, low-latency and encrypted environment in which Corda operates, the solution is optimized for business cases requiring institutional grade controls in reliability and availability.

“Through the ALTATM Payments Innovation Program – a part of the Sparkle Innovation Lab –, we have been working on various ways to transform traditional trade assets into tokenized, liquid instruments that can serve as the basis for a new digital, networked value transfer ecosystem,” said Srikumar Ramanathan, Senior Vice President & Global head – Industry Solutions Group (ISG), Mphasis. “The partnership with R3 will allow us to accelerate co-development and go-to-market on the Corda platform.”

By implementing a network-based model in what has traditionally been a linear, point-to-point approach, enterprises and their supply chains can unlock much needed working capital, while banks and financiers can significantly increase return on risk weighted assets (RWA) and scale supplier adoption.

“To support a meaningful and sustainable re-activation of global supply chains, we must embrace more flexible, efficient, and resilient models that enable a higher level of visibility and collaboration between banks, buyers, and suppliers. We are thrilled to be working jointly with Mphasis to create innovative blockchain-based payments solutions,” said Dorothy Copeland, Global head of Alliance and Ecosystems, R3.

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Everipedia to use Chainlink infrastructure for election night race calls

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Everipedia, a market leading blockchain knowledge company has integrated with Chainlink, the largest decentralized oracle network in the world, to build oracle infrastructure to sign and publish US election race calls on the blockchain. The Everipedia Chainlink node will provide smart contracts access to U.S. election data backed by a cryptographic proof that can be used to verify the data from our node comes directly from the original Associated Press API to which Everipedia has exclusive, authenticated access. With this verifiable data available on-chain, smart contract developers can create new financial products based on the outcome of the upcoming U.S. presidential election, such as prediction markets, derivatives and beyond, all of which can be created, executed and settled with the utmost reliability.

This integration is made possible by leveraging Chainlink’s oracle infrastructure to allow the Associated Press to sign and publish U.S. election results simultaneously across multiple different blockchains. By making high-quality data available on-chain from the likes of the Associated Press and providing strong guarantees on the origin of such data, our Chainlink node enables a new world of use cases for both DeFi and beyond.

Chainlink already supports dozens of blockchains and as its ecosystem continues to grow, Everipedia will keep expanding its services as well.

“Chainlink is bridging the technical gap between blockchains and real world data,” said Daniel Kochis, Head of Business Development at Chainlink. “Making this powerful technology more accessible is key to realizing its full potential, and publishing the AP’s electoral race calls onto the blockchain for the first time is a big milestone in that journey. It will provide a verifiable, tamper-proof record for tracking a historic election.”

As blockchains grow in potential and use in the coming years, the need for information from the outside world to execute transactions on the blockchain will continue to grow. Having trusted and reliable sources that these blockchains can use will be essential for moving the space forward. By having world-renowned organizations sign and publish their data through Everipedia and built on Chainlink, we will be able to build more trust in the ecosystem and beyond.

“We will be making history as the first to directly sign AP’s race calls and publish for blockchain use. We could not have picked a better partner in this than Chainlink,” says David Liebowitz, VP of Business Development at Everipedia.

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ExCore’s sale is LIVE

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ExCore

ExCore Sales and Impressive Staking

ExCore is a new and rapidly growing cryptocurrency that stands to eliminate inflation. Because there is a finite supply and no new tokens will ever be released, your investment in ExCore will never significantly drop from controllable causes. Right now, ExCore is in the middle of their private sale, but will release their public sale and staking platform next week on October 21. ExCore is a company that all keen investors should keep an eye on.

Private Sale

Today (October 14), ExCore launched their private sale to their whitelisted members. The sale is ongoing and takes place on Bounce, a secure medium used for crypto transactions in presales. It currently is about 25% full, and will go on until 10/17 or until the hard cap of $100,000 is reached.

You can participate via this link: https://bounce.finance/join/swap/3669 and this PASSWORD: excore2020

There are guides in ExCores telegram groups (Link can be found at bottom of this page) that explain in detail how to use the bounce platform.

Public sale

On October 21, the public presale will launch with a hard cap of $800,000 worth of ETH. Everyone will be able to participate in this sale as long as they have a metamask wallet. The minimum requirement for this sale will be 1 ETH, but keep in mind there will be gas fees, so you will need to have some extra in your account.

Staking

On the same day as the public presale, ExCores staking platform will also launch. Their staking platform offers an impressive 550% APY that will come from fees from every transaction on the ExCore network. To stake your tokens, there will be a 1% fee to stake your tokens as well as a 1.5% fee to unstake them, but staking for even just one day will be enough to cover these fees.

Summary

Not only does ExCore make for a great investment with their anti-inflation protocol, but if you also stake your ExCore you will be looking at some very nice returns. ExCore is without a doubt one of the best crypto investment options of 2020 and the sooner you get in, the better rates you will be able to buy at. The ExCore team is currently marketing everywhere they possibly can, so once the word gets out it will no longer be possible to buy tokens at this discounted price.

ExCore Links:

Here, you can find a few very helpful links, but most importantly the link to Github. This verifies the integrity of ExCore through our open source code (that anyone can see!).

Github: https://github.com/ExCoreFinance

Website: https://www.exvault.finance/

Telegram: https://t.me/excorevault

Twitter: https://twitter.com/ExCoreVault

Medium: https://medium.com/@excorefinance

Contract address: 0x87D3646B101977de0D2D58dfC5A70e84767A1909

Staking contract address: 0x28Ea47E0ff753AE99eE5241f468817Db6C476d

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Avient Biosciences Launches Largest Cannabinoid Research and Extraction Campus in Eastern U.S.

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Avient Biosciences officially launched its 200,000-square-foot industrial hemp research and extraction facility in North Carolina’s Research Triangle region this week. Designed for full cGMP compliance (21 CFR Parts 210 and 211), Avient’s 36-acre campus includes pharmaceutical- and food-grade research and production suites, on-site analytical testing laboratories, and climate-controlled biomass storage facilities. Avient will offer a wide array of high-quality cannabinoid ingredients to global pharmaceutical, nutraceutical, food and beverage, and cosmetic companies that are ready to leverage the anecdotal health and medical benefits of CBD in their products. Valued at $2.8 billion in 2019, the U.S. cannabinoid market is projected to grow by more than 50% by 2026.1

Committed to compliance, Avient’s initial team has more than 175 years of combined cGMP/pharmaceutical experience and is on track for EU GMP, ISO 9001, Kosher and Halal certifications by early 2021. Every industrial hemp shipment received has its Certificate of Analysis (COA) reviewed by the company’s quality team to ensure it meets Avient’s strict specifications as well as those of key regulatory authorities. All of Avient’s extracted CBD is tested by an external ISO-17025-certified Analytical Testing Laboratory to confirm the samples meet all Avient specifications before being shipped to the customer.

To ensure compliant genetics, the company’s affiliate seed company produces industrial hemp varieties that maximize CBD content while minimizing THC concentration, ensuring it is below the legal amount of 0.3%. Avient maintains a focus on the agronomics of industrial hemp cultivation with rigorous soil and tissue sample testing throughout the growing season.

“We built Avient Biosciences to be the premier industrial hemp extraction company with deep expertise in quality, research, compliance and production,” said Miles Wright, CEO. “Equally important, we built Avient from the ground up to be a name equated with trust and business success. As a science-first company dedicated to advancing the therapeutic benefits of cannabinoids, we provide clients with a wide array of safe, reliable and efficacious cannabinoid ingredients they can use to expand business success.”

To ensure full trackability and transparency from seed to shelf, Avient has partnered with Rymedi, an AI blockchain technology pioneer within the healthcare and pharmaceutical industries. To date, no other cannabinoid producer in the U.S. has incorporated blockchain technology into its supply chain process.

“When choosing clients, we look for character, integrity and an innovative spirit, especially in emerging markets,” said David Stefanich, PhD, co-founder and CEO of Rymedi. “Our partnership with Avient Biosciences comprises all of these aspects and many more. The leadership team has a diverse background and brings broad insights to market challenges. Avient’s operations team draws upon decades of experience, and the company’s product vision is second-to-none as it leverages a pharmacovigilance approach into a promising product space.

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Canadian Pacific joins TradeLens blockchain shipping platform

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Canadian Pacific announced it has joined TradeLens, a blockchain-based platform that enables the secure and transparent transfer of container-shipping documents. This open-API platform will help CP intermodal shippers create, amend and share documents with other supply chain participants, including consignees, beneficial cargo owners, customs agencies, dray operators and steamship lines.

“CP is pleased to join TradeLens as part of its efforts to improve the customer experience through technological innovation,” said CP Vice-President and Chief Information Officer Mike Redeker. “Global shipping is a profoundly complex business and TradeLens is improving the information-sharing processes that support the industry. CP is always innovating for the benefit of its customers, and joining TradeLens is an example of that innovation.”

TradeLens was developed by IBM and A.P. Moller-Maersk specifically for use in the container-shipping industry. It currently handles more than 700 million events and 6 million documents annually. The system integrates with users’ in-house systems via non-proprietary, publicly available APIs designed for ease of setup and use.

Note on forward-looking information

This news release contains certain forward-looking information and forward-looking statements (collectively, “forward-looking information”) within the meaning of applicable securities laws. Forward-looking information includes, but is not limited to, statements concerning expectations, beliefs, plans, goals, objectives, assumptions and statements about possible future events, conditions, and results of operations or performance. Forward-looking information may contain statements with words or headings such as “will”, “anticipate”, “believe”, “expect”, “plan”, “should” or similar words suggesting future outcomes.

This news release contains forward-looking information relating, but not limited to, our operations, priorities and plans, and the anticipated future benefits to CP’s customers of the TradeLens platform.

The forward-looking information contained in this news release is based on current expectations of the operability and functionality of TradeLens, which CP and its intermodal shippers create, including the ability to amend and share documents with other supply-chain participants, including consignees, beneficial cargo owners, customs agencies, dray operators and steamship lines. Although CP believes the expectations, estimates, projections and assumptions reflected in the forward-looking information presented herein are reasonable as of the date of this release, there can be no assurance that they will prove to be correct. Current conditions, economic and otherwise, render assumptions, although reasonable when made, subject to greater uncertainty.

Undue reliance should not be placed on forward-looking information as actual results may differ materially from those expressed or implied by forward-looking information. By its nature, CP’s forward-looking information involves inherent risks and uncertainties that could cause actual results to differ materially from the forward-looking information including, but not limited to, the following factors: changes in business strategies; operability of TradeLens with CP intermodal shippers; ability of customers to amend and share documents with other supply-chain participants, including consignees, beneficial cargo owners, customs agencies, dray operators and steamship lines; changes in laws, regulations and government policies, including privacy policies; trade restrictions or other changes to international trade arrangements; various events that could disrupt operations, including cybersecurity attacks, as well as security threats and governmental response to them, and technological changes; and the pandemic created by the outbreak of the novel strain of coronavirus (and the disease known as COVID-19) and resulting effects on economic conditions, the demand environment for logistics requirements and energy prices, restrictions imposed by public health authorities or governments, fiscal and monetary policy responses by governments and financial institutions and disruptions to global supply chains. The foregoing list of factors is not exhaustive. These and other factors are detailed from time to time in reports filed by CP with securities regulators in Canada and the United States. Reference should be made to “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Forward-Looking Statements” in CP’s annual and interim reports on Form 10-K and 10-Q.

The forward-looking information contained in this news release is made as of the date hereof. Except as required by law, CP undertakes no obligation to update publicly or otherwise revise any forward-looking information, or the foregoing assumptions and risks affecting such forward-looking information, whether as a result of new information, future events or otherwise.

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Townforge Private Blockchain Game Released

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Townforge is a new world-building multiplayer online game, with the ability to mine cryptocurrency, now available for download and use on a testing-only blockchain. Townforge uses a source code fork of the private cryptocurrency Monero to create a new cryptocurrency called Townforge Gold that can be spent inside and outside the game. Game activity is stored on the Townforge blockchain—not private servers—giving the game a life of its own and limiting the potential for interference, even by game masters.

In this age of blockchain games, a number of recent releases use the popular cryptocurrencies Bitcoin and Ethereum, both of which have so-called transparent blockchains. These show the movement of the cryptocurrency, allowing analysis, tracking and surveillance. Monero and Townforge Gold, on the other hand, use cryptographic techniques to hide the movement of funds, giving players privacy not available with the other blockchains.

Townforge is a voxel based 3D multiplayer game, where the building mechanics have been inspired by games such as Minecraft, coupled with player-action driven emergence and freedom paying homage to games such as EVE Online and Ultima Online. Players build structures, such as houses, farms, and bridges, using materials obtained in the game. Each player owns part of a big virtual world that is shared by other players. The world comprises towns, with those towns in turn made of player-controlled buildings, infrastructure, and industry.

But Townforge offers much more than just in-game construction. The software creates—though a process called cryptocurrency mining—the Townforge Gold cryptocurrency, which is spendable in the game to buy land and other assets. With enough Townforge Gold, a player can even start a new town. An exciting aspect is that money spent in-game goes to town treasuries and is returned back to the players according to how well they perform. Players can gain wealth through competing in the free markets, by producing materials such as refined wood and stone, researching tech, and gathering rare collectibles such as mintable coins or rare gemstones. And all Townforge Gold can also be spent outside of the game.

“Townforge is a retro gamer’s dream come true in the crypto world. It couples modern 3D engine capabilities with emergent player-driven phenomena, and takes inspiration from the complexity of successful games in the simulation genre,” said T. D. Laajala (Syksy), co-developer of Townforge. “The formula is then given a novel twist by placing real digital currency at the core of gameplay.”

Unfolding gameplay is stored on the Townforge blockchain. While in-game actions are publicly visible by all, the link between a game account and a Townforge wallet is private, allowing Townforge Gold owners to play the game while keeping their privacy. All out-of-game transactions of the Townforge Gold cryptocurrency get the same exceptional privacy protection that Monero offers.

While leveraging the Monero source code, Townforge returns benefits to the Monero community. Townforge Gold is merge mined with Monero, meaning the same computer science puzzle can be used for mining the two different cryptocurrencies. Playing the game, therefore, strengthens Monero. Through this, Townforge represents a positive use of Monero, a cryptocurrency that is growing past its early association with the dark web.

“Townforge enables a new use for Monero’s network, securing other blockchains by allowing any Monero miner to mine multiple chains with no extra energy usage while increasing the security of the Monero network itself at the same time,” said Moneromooo, Townforge creator.

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Future FinTech Appointed Weicheng Pan as Chief Strategy Officer

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Future FinTech Group Inc. (NASDAQ: FTFT) (hereinafter referred to as “Future Fintech”, “FTFT” or “Company” ) a leading blockchain e-commerce company and a service provider for financial technology, today announced it has appointed Mr. Weicheng Pan as Chief Strategy Officer of the Company. Mr. Pan will be responsible for the Company’s strategic planning, international M&A, investment and financing activities, and will support the management team to promote the Company’s global development strategy.

Mr. Weicheng Pan is an angel fund investor in China and a trainer for Chinese enterprises. Since November 2019, Mr. Pan has served as dean of Guangdong Jewish Mindset Business School and president of Malaysia Chengji Business School. From January 2016 to October 2019, Mr. Pan served as chairman of Chengji Group, a company incorporated in China.

Mr. Pan has conducted over 100 lectures in Malaysia and Singapore with over 10,000 students attendance with the “Jewish business thinking” as its main lecturing topic. In September 2019, Mr. Pan was awarded the Asia-Pacific Education Lifetime Achievement Prize. From April 2014 to December 2015, Mr. Pan served as an investment banking adviser of Huatai Securities and he assisted several Chinese companies listed on the ChiNext and NEEQ in China. Currently Mr. Pan serves as an independent director of the Board of TD Holdings, Inc. (NASDAQ: GLG)

In July 1999, Mr. Pan graduated from Wuhan University of Science and Technology with a Bachelor degree in Business Administration.

“Mr. Pan is a leader with innovative ideas and forward thinking. He has more than 20 years of experience in corporate strategic planning, M&A, financing and investment strategies, and has extensive expertise in negotiating and executing complex transactions. “Future FinTech CEO, Mr. Shanchun Huang, said, ” Mr. Pan will greatly enhance the strength of FTFT management team and guide FTFT to a new growth stage. He has the business acumen to evaluate investment opportunities and has many successful M&A experience. We are very happy to have Mr. Pan as our chief strategy officer and join the Company’s management team which will benefit the Company and its shareholders.”

Mr. Weicheng Pan said: “I am very happy to join a dynamic team such as FTFT. I am believe that with my years of experience and channels in global business, I could help the Company making the right decisions and providing new solutions to assist FTFT’s business transformation into challenger banking and online payment fields. I look forward to working with the FTFT team to implement our growth strategy in these new fields.”

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DueDEX is Paving the Way, Launching Fee-Free LINK/USDT Futures Trading

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DueDEX announces its industry-first zero-fee LINK/USDT Futures Trading, opening new paths to diversification and profitability. With new exchanges cropping up, trading becoming ever-more popular, and the interest in Crypto and DeFi rising by the day, the trading market has been crying out for something special to hit for quite some time. That moment comes now, as DueDEX releases news of its zero-fee LINK/USDT perpetual swap trading. This means that no trading fee or monthly membership fee will be charged for either takers or makers, and it’s unconditional and permanent. Coupled with no KYC (Know Your Customer) and hassle-free access, DueDEX becomes the first crypto futures exchange to offer free trading experience.

This news will come as a breath of fresh air in a market where fees on perpetual contracts sit well above 0.05%. Having the freedom to now make profit on break-even trades, and to generate that extra bit of profit when liquidating is fantastic news for traders. DueDEX now extends its reach into the market, having established itself as one of the most powerful algorithmic trading systems, which can be used by asset managers and everyday traders alike.

Catching the DeFi Wave with LINK

What’s more, is that DueDEX is leading the field, boasting the lowest fee rate in the market for this contract. The announcement comes perfectly placed in the wave of DeFi interest – with Chainlink (LINK) being one of the most prolific DeFi projects to emerge this year, having changed the game by providing an oracle for real world data to enter the blockchain. The market has already cottoned on to its immense potential – and with prices up over 500% in a year, traders could very well be poised to make record-breaking returns when trading LINK/USDT on DueDEX.

Bo Wang, CEO of DueDEX had the following to say about the release of zero-fee LINK/USDT trading:

“We are branching out into new things all the time at DueDEX, but this is the first time we can offer unconditional, permanent zero fees. With DeFi surging, we have been looking for opportunities to further diversify our offer, with a special attention to algorithmic traders and asset managers, who will find the perfect product in our new contract.”

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Altcoins

LH-Crypto – Margin Trading with Cryptocurrencies

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bitcoin trading

In 2018, LH-Crypto has become one of the most successful projects in the crypto industry. The crypto community was particularly attracted to the hi-tech start-up’s ICO for its concept of the first-ever full-scale crypto broker. The idea worked out well, so two years later LH-Crypto continues amazing its investors and clients with the pace of its development and the high quality of its services.

LH-Crypto company was among the first to create a platform for investing cryptocurrencies, thus developing the whole industry. The experience that this professional team had accumulated helped them create a range of investment products for crypto owners which were a breakthrough for this trading subindustry.

LH-Crypto broker was the first one to give people an opportunity to trade crypto with leverage and invest it into the most conservative financial assets like stocks and precious metals.

LH-Crypto gives everyone access to trading 

An important part of LH-Crypto services is that they are easy to access for traders of all levels and capacities. One can start trading with as little as 10 Euro on his or her deposit. Clients with over 10000 Euro on their accounts receive advanced conditions for trading and withdrawal.

More than that, the company maintains the main principle of the crypto market – anonymity.  Whenever one opens an account in crypto, be it Bitcoin, Ethereum, Tether or other, it can be used with no special verification. This option, however, is not applied to the accounts denominated in Euro, for most of the payment systems are very strict about the rules for fiat currency transactions.

LH-Crypto provides high-quality operations thanks to the most cutting-edge trading platform. Clients’ orders are processed instantly, with no slippage and for the best market prices. The trading platform algorithms pick the best leverage level for each deposit, from 1:2 to 1:500 that helps eliminate unnecessary risks for every trading strategy.

Trading assets for everyone

The list of trading assets in LH-Crypto includes assets of both investing and speculative natures: cryptocurrency pairs, fiat currency pairs, mixed currency pairs, precious metals, commodities, stocks, indices – more than 240 listed assets.

Forex and crypto markets work round the clock, so it is possible to trade any time joining different trading sessions in different exchanges. Apart from that, iOS and Android-based mobile apps enable traders to follow the market and make orders wherever they are.

Automated deposit and withdrawal

Withdrawal from LH-Crypto account is just as easy as depositing funds. These procedures are performed both in the Client Area and in the trading terminal, so every operation can be made by just clicking several buttons.

Special offers and bonus programmes

Motivating offers are a crucial part of working with customers, so LH-Crypto regularly replenishes its clients’ accounts with trading bonuses and offers other trading privileges.

Transparent partnership

LH-Crypto takes special interest in enlarging its footprint, so the company readily partners with other projects and individuals both online and offline. The broker’s partnership programmes are famous for their high payouts, sparing requirements to the partners, and user-friendly support at all stages.

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Blockchain

World’s First Real Estate DeFi Hits 30X After Auction Launch

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Jointer, the future of Commercial Real Estate investment and syndication, concluded the launch of their private auction that completed 27 Auction days in 2 hours. From the launch on September 27, which began at 7:00 PM GMT, JNTR’s face value grew from $0.01 to $0.2946 providing 2,946% returns for initial investors. Jointer, the winner of the Carnegie Mellon University U.S.-China Innovation and Entrepreneurship Association Award for Most Promising Venture, announces the Auction’s continuation, on a daily basis, starting September 28, 12:00 PM GMT and closing at 11:00 AM GMT.

The daily Auction is wholly decentralized and powered by a smart contract on the Binance Smart Chain. The smart contract calculates daily minting and incentivizes through a dynamic, financially engineered mechanism creating the world’s first Commercial Real Estate DeFi DAO protocol.

Jointer CEO, Yoda “Jude” Regev, has worked on Jointer for over 3 years. When discussing the explosive growth of JNTR, Yoda remarked:

“Taking advice from Master Yoda, ‘Do or do not, there is no try.’ After four pivots and a very long two years of hard work we built a sophisticated and first of its kind DeFi model, without even knowing that there would be a DeFi industry in existence. Now here we are, 27 Auction days in and able to show that we designed a solution that first protects the community and then after the community benefits, then Jointer does. This is the only way to build (buidl), you cannot put the community at risk.”

The auction is designed around Game-theoretic models where the investor’s total benefit depends on both their individual performance and a common group investment goal. The individual and group benefit creates unique symmetric equilibrium amongst investors.

The game begins each Auction day when there is zero investment and opportunistic investors which may invest the smallest amount possible to win the entire offering at a discounted rate, while hoping that the total investments after their investment will not increase significantly. If this happens, participants win a disproportionate discount.

Setting goals for each day of the Auction allows Jointer to provide investors an extra incentive to outperform the daily goal through a dual bonus structure. Allowing both large and small investors an opportunity to benefit from the daily success with one bonus unlocked as a group and one as an individual.

The Group Bonus allows everyone to benefit from a greater JNTR discount once the Auction reaches above 100%. The Individual Bonus benefits large contributors to the round by offering a multiplier that incentivizes daily lead investors. The bonus is uncapped but cannot exceed the daily contribution cap of 150%; with a limited daily supply, investors are encouraged to participate early.

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