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Fighting Corruption with More Transparent Crypto and Blockchains

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Addressing corruption has proven to be a rather problematic venture. Both cryptocurrencies and blockchain may prove to be of great value in this regard. Their lack of anonymity and privacy will help establish a more secure ecosystem moving forward.

Cryptocurrencies Can Address Corruption

Corruption still thrives in this day and age of technological advances. Even though it became easier to hold individuals accountable for their actions, more efforts are needed. Especially when it comes to public financing, new solutions need to be created sooner rather than later. Existing technologies and countermeasures simply do not provide sufficient protection in this regard.

Two specific technologies stand out to make corruption a non-issue in the future. First of all, there are the cryptocurrencies. Bitcoin, Ethereum, and other public cryptocurrencies lack both privacy and anonymity by default. When these currencies are used to exchange value, users can effectively be identified through blockchain analysis. Users converting to and from fiat currency need to verify their identity with an exchange or broker accordingly.

Although these cryptocurrencies do not transmit personal data directly, it is an option worth exploring. Any cryptocurrency can include personal information if the protocol is modified to support such solutions. This can include ID numbers, names, business identification numbers, etc. Additionally, cryptocurrencies offer near-instant transactions and cross-border compatibility unlike any other form of money which exists today.

Making Blockchain Information Even More Transparent

All of this cannot be supported without having the right technology in place. Blockchain technology, which powers all of these currencies, will need to incorporate this additional information. It seems Ethereum may be in a better position to accommodate such changes in the future. It allows for new currencies to be created on top of its infrastructure while still benefit from native technology such as smart contracts and DAOs.

All of this show the current cryptocurrencies are not exactly suited to fight corruption either. Bitcoin is pseudonymous and Ethereum itself is incorporating privacy technology moving forward. New currencies will need to be introduced to fight corruption accordingly. A combination of a new cryptocurrency and blockchain can yield positive results over time.

All blocks on the blockchain store the personal information needed to identify users and create proper accountability. Creating a completely transparent financial ecosystem to fight corruption will not happen overnight either. It requires a completely different mindset, even though it has a lot of potential. Transitioning from fiat currency to cryptocurrency to fight corruption is an interesting idea, but its feasibility has yet to be determined.  

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Akemona Technologies Unveils Akemona-OnchainTA Release 29, Elevating Digital Securities Management

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Akemona Technologies, LLC, an affiliate of Akemona, Inc., is excited to announce the availability of Akemona-OnchainTA Release 29. As a key player in digital securities technology, Akemona Technologies focuses on empowering financial institutions with an advanced asset tokenization platform designed to streamline deal preparation and manage the entire lifecycle of digital securities. Ravi Srivastava, CEO of Akemona Technologies, emphasizes the significance of this release, stating, “This is a major release that enhances the capabilities of the platform for corporate actions and compliance with regulations.”

The Akemona technology platform operates within the exempt offering framework of the U.S. Securities and Exchange Commission (SEC), providing comprehensive digital securities issuance and asset tokenization services. These services cover deal preparation, book building, pricing and allocation, electronic prospectus, investor outreach, indication of interest, and investment transactions. The OnchainTA component serves as an all-digital transfer agent platform, offering post-subscription services such as investor registration, digital securities transfer, peer-to-peer trading, replacement of lost digital securities, and support for corporate actions like stock splits, reverse stock splits, buybacks, and dividend distribution.

One of the platform’s distinguishing features is its blockchain-agnostic nature. Compatible with permissioned and permissionless blockchains, the Akemona platform enables financial institutions to efficiently prepare regulatory filings. Smart contracts are automatically generated based on these filings, reducing errors, reconciliations, and settlement times, thereby increasing the efficiency of capital market transactions.

Brady Matthews, Chief Technology Officer of Akemona Technologies, underscores the significance of digital securities technology, stating, “Financial institutions are adopting digital securities technology since transactions recorded on a distributed ledger cannot be modified. Immediate settlement finality of transactions reduces counterparty risk and enhances coordination among financial institutions, issuers, investors, and other capital market participants. The integration of artificial intelligence in the life cycle of digital securities further enhances efficiency and compliance.”

Founded in 2018 by former executives of Fortune 500 companies, Akemona Technologies places regulatory compliance at the core of its operating system and smart contracts.

Ravi Srivastava notes, “Since our inception, we have focused on building regulatory compliance into the workflow of digital securities in a way that allows customization by financial institutions as regulations evolve.”

Acknowledging the increasing interest from financial institutions, Srivastava adds, “Financial institutions are looking for more efficient ways to issue securities, reduce counterparty risk, review asset-allocation strategies, and rebalance portfolios. Traditional financial assets’ life cycle involves complex and duplicative processes, resulting in higher risk and reduced profitability. Financial institutions now realize that digital securities can mitigate these risks and enhance profitability by eliminating these inefficiencies.”

Akemona Technologies offers its platform and services in a Software-as-a-Service (SaaS) model and a white-labeled customized solution.

About Akemona Technologies, LLC

Akemona Technologies is the developer of the software-as-a-service (SaaS) Akemona tokenization platform, enabling financial institutions and issuers to manage the lifecycle of digital securities. Akemona Technologies is a unit of Akemona-Core, Inc. (https://akemona-core.com) and an affiliate of Akemona (https://akemona.com), a funding portal registered with the SEC and a member of FINRA (https://www.finra.org/about/firms-we-regulate/funding-portals-we-regulate). Akemona Technologies is neither a funding portal nor a broker-dealer. OnchainTA, an affiliate of Akemona Technologies, is registered with the SEC as a transfer agent.

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Alchemy Pay Joins Stellar Ecosystem to Offer Ramp Service for Developers and dApps

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Alchemy Pay joins the Stellar ecosystem as a new on and off-ramp provider. It is now possible for companies building on the Stellar network to access Alchemy Pay’s on and off-ramps for convenient fiat-crypto purchases of XLM and USDC. This integration brings the opportunity for developers and dApps within the Stellar ecosystem to seamlessly integrate the Alchemy Pay Ramp through accessible plugins and APIs and to incorporate cost-effective fiat-crypto transition services into their platforms, which are now featured in the Stellar Anchor Directory.

As a leading payment solution provider, Alchemy Pay has become a specialist in providing solutions that give crypto and Web3 services access to fiat payments for mainstream accessibility. The ramps are easily integrated on platforms such as DeFi protocols, NFT marketplaces, and Gamefi platforms, and enable direct purchase of crypto via credit and debit cards, mobile wallets, and bank transfers. Drawing upon extensive expertise, Alchemy Pay has fostered robust partnerships with significant networks and platforms such as Polygon, Avalanche, Algorand, Neo, Arbitrum, Binance, OKX, and Bitget. With its global coverage covering 173 countries and the payment network boosting 300+ local channels, Alchemy Pay Ramp is a truly global choice for developers and dApps to onboard their users from around the world.

Moreover, Alchemy Pay diligently seeks and obtains licenses related to payment and financial services to cater effectively to users across diverse countries and regions including the United States, Indonesia, and Lithuania. This proactive approach ensures heightened regulatory adherence and security. In addition, Alchemy Pay has earned credentials from industry titans Visa and Mastercard, solidifying its status as an authorized third-party payment service provider.

The Stellar network launched in 2014 and, as detailed in the Stellar Development Foundation’s new Q3 2023 Quarterly Report, the network processed 700M operations in the last quarter. Moneygram recently began developing its own wallet on Stellar. Companies from major enterprises to single-dev startups build on the Stellar network to move money and access new markets. Whereas the Bitcoin network was made for trading only bitcoins, the Stellar network is a decentralized, fast, scalable, and uniquely sustainable blockchain built for financial products and services.

By providing a new ramp service choice on the Stellar network, Alchemy Pay is helping to drive adoption and make crypto even more accessible to a wider audience. This will make it easier than ever to build on the Stellar blockchain and take advantage of its fast, low-cost, and efficient transactions.

About the Stellar Network

The Stellar network is a decentralized, fast, scalable, and uniquely sustainable blockchain built for financial products and services. It offers builders a protocol optimized for payments, with a design intended to keep fees low and to provide transaction speeds that can scale with increased adoption. Financial institutions and innovators worldwide issue assets and settle payments on the Stellar network, which has processed billions operations with millions of accounts since the network was first launched.

For more information, visit https://stellar.org/foundation.

About Alchemy Pay

Founded in Singapore in 2017, Alchemy Pay is a payment gateway that seamlessly connects crypto with traditional fiat currencies for businesses, developers, and end users. With its On & Off Ramp solution, NFT Checkout, Crypto Card and Crypto Payments, Alchemy Pay supports payments in 173 countries. The Ramp is a one-stop solution to buy and sell crypto and fiat, easily integrated by platforms and dApps according to requirements. The NFT Checkout enables direct purchases of NFTs using fiat payment methods. The Crypto Card solution empowers businesses and token issuers to provide users with branded virtual and physical cards for instant global spending. ACH is the Alchemy Pay network token on Ethereum and BNB Chain.

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Membrane Announces First Derivatives Trade Settled on Network

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Membrane Labs Inc., a leading institutional-grade digital asset settlement and workflow management platform, today announced the successful completion of its first derivatives settlement with prominent trading firms QCP and Wakem Capital.

The transaction seamlessly moved margin in fiat, showcasing the platform’s ability to facilitate the settlement process for derivatives transactions through a versatile, custody-agnostic API and blockchain interface.

“Our mission at Membrane has always been to bridge the gap between traditional finance and the world of crypto assets,” said Carson Cook, CEO of Membrane. “This successful transaction is a testament to our platform’s capacity for innovation and our commitment to providing a secure and efficient settlement network. It represents a significant step forward in our work with market leaders like QCP and Wakem Capital, demonstrating our mutual dedication to advancing the digital asset economy.”

The transaction allowed both parties to experience the full scope of Membrane’s settlement network, including its capacity for handling various collateral arrangements and currencies. Utilizing fiat for margin purposes was a deliberate choice, showcasing Membrane’s versatility in building seamless integrations across both traditional banking and custody providers.

“As a global leader in digital assets trading, we are delighted to support Membrane’s journey as an investor, and the first in the market to experience their settlement capabilities in derivatives. With increased efficiency in execution and settlement, this transaction is a first step towards accelerating the convergence of products and capital flows from the traditional finance and digital assets industry,” said Darius Sit, Founder & CIO of QCP Capital.

“The successful execution of this transaction using Membrane’s network is significant,” commented Wakem Capital Mgmt founder John Vincent. “It serves as a clear indicator of the platform’s readiness to meet the growing needs of derivatives execution & settlement in the digital asset universe. Just as we saw this development in the FX markets in the 1990s, we see Membrane taking the first step to provide execution, settlement, & counterparty management in an integrated platform.”

About Membrane

Membrane is a technology platform offering a variety of enterprise-grade clearing, settlement and lending applications integrated with a custody-agnostic settlement network. Membrane’s platform allows for seamless management and settlement of OTC spot trades, loans, derivatives, and associated collateral management. Visit: www.membranelabs.com

For more about QCP, visit: www.qcp.capital

For more about Wakem Capital, visit: www.wakemcapital.com

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Alchemy Pay and zkMe – Transforming KYC With Zkme’s Innovative zkKYC Solution to Provide Privacy-Preserving and Compliant Onboarding

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Alchemy Pay and zkMe team up to bring groundbreaking privacy-preserving KYC solutions to onboard users in a compliant, safe and secure manner through the zkMe identity oracle.

Overview

  • zkMe is an end-to-end zk proof and decentralized identity oracle
  • Alchemy Pay will start accepting zkMe’s privacy-preserving KYC, AML, and compliance related onboarding services
  • Through this collaboration, the two companies prove it’s possible to merge the blockchain ethos of privacy and decentralization with incoming regulation

Despite the maturity of the internet and the awareness of privacy concerns, existing KYC solutions often impose archaic and risky procedures on users – a solution that often exposes the user’s information to employees and companies (such as easily accessible pictures of passports), while users have no control over how their data is shared with third-parties. The repetitive verification required across different platforms only exacerbates data exposure risks.

With zkMe providing an identity oracle, which treats each identity as a set of anonymized data points, all identity-based queries (from personal info such as KYC, to on and offline credentials such as medical licenses and social media prowess) can be packaged in a single oracle, privately.

Traditional KYC methods often create friction during onboarding, sacrifice user privacy, and impose security risks by storing personal data on centralized servers. As a leading payments gateway bridging fiat and crypto economies globally, Alchemy Pay is teaming up with zkMe to integrate cutting-edge zero-knowledge proof (ZKP) technology into its onboarding process. This collaboration will provide enhanced privacy, security and convenience for Alchemy Pay users worldwide.

How zkMe’s zkKYC innovates identity verification

zkMe’s zkKYC solution allows users to prove they meet verification criteria without exposing any personal information. Advanced cryptography converts identity data into anonymized proofs of the credential, which are then validated against predefined requirements. The KYC process then only reveals that the users meet the criteria, such as “is this user over 18,” and “which country is this user a citizen of,” without risking crucial information such as the picture of the passport, or the passport number, all while being compliant in most key jurisdictions.

The process ensures:

  • User privacy is safeguarded through end-to-end encryption and selective disclosure of information. No personal data is ever stored on centralized servers.
  • Security is bolstered by decentralizing computation and using threshold encryption across multiple parties. No single entity can access user data.
  • Regulatory compliance is maintained by enabling identity recovery if required by authorities.
  • Convenience is improved by enabling instant verifications that can be reused across services that deploy zkMe’s identity oracle. No more repetitive KYC processes.

By adopting zkKYC, Alchemy Pay reaffirms its commitment to user security and privacy. This integration paves the way for a more streamlined, trusted and regulatory-compliant onboarding experience.

Looking ahead, zkKYC opens up new possibilities for Alchemy Pay to expand its services while upholding privacy values. Potential use cases include permissioned DeFi, undercollateralized loans, loyalty programs, and more. By leveraging advanced cryptography, Alchemy Pay can cater to emerging Web3 markets while giving users control over their personal data. This collaboration with zkMe represents a monumental step towards the future of self-sovereign identity.

About zkMe

zkMe builds zk Identity Oracles for truly decentralized & anonymous cross-chain credential verifications.

No personal information is ever processed by anyone but the user themselves. Data leaks & misuse by the service provider are impossible; full interoperability & reusability result in a superior ID solution. zkMe’s is the only FATF compliant KYC provider to be fully decentralized, offering a full suite of products from anti-bit/anti-sybil, to KYC and more.

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Aragon brings multichain governance to DAOs with zkSync and LayerZero

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Multichain governance has arrived on Aragon OSx, using LayerZero for cross-chain messaging and the zkSync Era rollup for low-cost and secure voting. The code is undergoing audits and can be viewed https://github.com/aragon/multichain-voting.

This Aragon OSx plugin enables DAOs to govern assets and permissions across EVM chains from one mainnet DAO smart contract. The plugin can be installed in custom DAOs on Aragon OSx and will launch on the no-code Aragon App in 2024.

“It’s clear now that Ethereum is scaling through rollups, but we’ve left behind the piece about connecting and managing accounts across them. By working on multichain governance, we’re enabling Ethereum to scale by helping distribute liquidity and offloading some transactions to L2s, while protocols will still be able to live on mainnet,” said Carlos Juarez, Chief Technology Officer at Aragon.

Here’s how governance in multichain DAOs will work from proposal to execution:

  1. Create a custom census with tokens across chains: Create a custom census using governance tokens across multiple chains using LayerZero’s Omnichain Fungible Token (OFT) standard.
  2. Cast votes for a low-cost on zkSync: Once the census has been created, members will be able to vote settling on zkSync at a fraction of the cost.
  3. Execute the action across chains simultaneously: After the vote, users can utilize the Aragon OSx permission management system to execute the action programmed into the proposal on multiple chains simultaneously from your mainnet DAO.

This specific multichain governance design would not be possible without Aragon OSx’s modular permission management system, making it simple to grant and revoke permissions to external contracts from a DAO contract. The Aragon OSx plugin will enable DAOs to execute actions on any chain simultaneously, providing governance flexibility to adjust parameters and send assets on the precise chain needed.

The plugin leverages LayerZero’s Omnichain Fungible Token Standard (OFT) to extend the capabilities of governance tokens, enabling token holders to cast votes on zkSync no matter which chain their token originated on. DAO members can also vote on zkSync to save gas costs and increase token participation. More information is available here.

“With the launch of the Aragon OSx plugin, DAOs can scale their activities across chains, increasing community participation while effectively managing costs and maintaining security. The next step in DAO governance is here,” said Juarez.

About Aragon

Aragon builds the secure and modular Aragon OSx DAO framework and no-code Aragon App. Aragon deployed the first DAO framework in 2017, which has powered the creation of over 7500 DAOs and secured over $16b in value for leading projects like Lido, Decentraland, API3, Aavegotchi, and NFTX.

The Aragon Association recently deployed most of the treasury to allow all ANT holders to redeem their ANT for ETH, dissolved the association, and passed the torch to continue the Aragon Project’s mission in a new product-focused structure. The new structure consists of the current Aragon OSx team developing the product, and a new non-profit Product Council of infrastructure builders that will oversee remaining funds to advance the mission.

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cSigma Finance Launches Private Credit Protocol on Ethereum, connecting SMB debt originators with Stablecoin holders globally with a Machine Learning credit management process

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cSigma Finance, a financial technology company based in New York City, today announced the launch of its Real World Credit (RWC) protocol on Ethereum, connecting stablecoin holders with Institutional-grade credit opportunities.

cSigma Finance is at the forefront of transforming Real World Assets, fusing cutting-edge data analytics and Machine Learning with the foundational elements of blockchain technology. This integration marks a significant stride towards bridging the divide between Traditional Finance and the burgeoning realm of Decentralized Finance.

“cSigma’s protocol is a game-changer for the $150B stablecoin assets, with a dual mandate of democratizing SMB access to capital and improving the yields of stablecoin holders,” said Anil Jaladi, founder and CEO of cSigma Finance. “cSigma protocol not only tokenizes the debt but also offers a rigorous credit token life cycle process, monitoring borrowers’ credit quality systematically and generating probably the highest risk-adjusted yields on Ethereum”.

Lenders utilizing stablecoins gain enhanced exposure to top-tier, collateral-backed real-world credit options, bolstered by robust Machine Learning and analytical tools for more informed lending choices, alongside a comprehensive, real-time perspective of their capital allocation.

SMB debt originators and borrowers will have access to new sources of capital that are flexible and agile on a global scale to support their growth.

“We are excited to partner with cSigma Finance to provide our customers with access to capital from stablecoin investors. This partnership will allow us to offer our customers more flexible and affordable trade finance solutions, helping them to grow their businesses and succeed in the global marketplace.”, says John Fang, VP of Finance at BlueX Trade, a payments and financing logistics platform with over 25,000 importers and exporters.

About cSigma Finance

cSigma Finance is on a mission to democratize access to institutional-grade credit opportunities by leveraging blockchain and machine learning through a frictionless process.

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MetaBID: Your Gateway to a New Era of Blockchain Auctions

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MetaBID, the innovative auction platform set to transform the way people bid and win launches it’s first auctions on the 4th of November 2023. By combining blockchain technology, a secure and transparent environment, and exciting opportunities to win highly prized digital assets at a fraction of their market price, MetaBID is your gateway to a future of thrilling auctions and immutable digital rewards.

What is MetaBID?

MetaBID is an emerging blockchain-driven auction platform that’s designed for the new generation of auction enthusiasts. It takes the fundamental concept of auctions and enhances it with the power of blockchain technology, making the process more secure, transparent, and rewarding.

It enables users to secure exclusive digital treasures like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Crypto Punks, Bored Ape Yacht Club NFTs, and other coveted digital assets, often at prices that challenge belief.

Why MetaBID?

  • Transparency: Every asset and its pertinent auction parameters—like the reserve price, bidding cycles, and maximum price—are transparently and permanently stored on-chain before any auction kicks off. This ensures that no rules are altered mid-game, offering clarity and assurance to all participants (bidders).
  • Audited by Certik: Certik, one of the world’s leading blockchain auditing firms, has rigorously audited the bidding code. This audit ensures that the bidding mechanisms are fair, trustworthy, efficient, and free from vulnerabilities.
  • On-Chain Reliability: With all vital auction details and assets recorded on-chain, there’s a guarantee of fair play. This infrastructure ensures no asset can be double-auctioned. Every auctioned asset is unique, and the rules are clear and unchangeable for everyone before an auction begins.
  • Secure Transactions: Security remains paramount. All MetaBID transactions are encrypted, keeping your data and assets protected every step of the way.
  • Fair Play Policy: Any indication of foul play, such as the use of bots or automated software (excluding approved bots such as the MetaBID bot that is provided free to all users), is strictly prohibited and will result in immediate account termination.
  • Sustainable Discounts with Reserve and Max Price: These mechanisms ensure that while users will always enjoy significant discounts, the platform operates sustainably without incurring losses.

What to Expect from MetaBID?

MetaBID promises a series of captivating milestone events, with incredible assets up for grabs:

  • Public Sale: The public sale of BIDs kicks off on October 28, opening the doors to more participants.
  • Auctions: On November 4, be part of MetaBIDs inaugural auctions.

MetaBID is more than just an auction platform; it’s a new world of opportunities and excitement. Join us on this journey, and let’s redefine auctions together.

About MetaBID

MetaBID is on a mission to democratize digital wealth, making it accessible to all individuals, regardless of geographical location or financial situation.

MetaBID is an online auction platform that leverages blockchain technology to bring transparency and fairness to auctions. As a product of MetFi DAO, MetaBID is redefining the auction experience with its innovative approach to pricing, customizable bidding bots, and community-centric focus. The first auctions go live on November 4, 2023 and BID packs are available for purchase now.

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Celestia Is First Modular Data Availability Network to Integrate with Arbitrum Orbit

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The Arbitrum Foundation, along with the Celestia Foundation, today announced that Celestia is the first modular data availability (DA) network to integrate into Arbitrum Orbit and the full Nitro stack. The integration offers developers the option to publish data to Abritrum One, Abritrum Nova, and now, Celestia. Arbitrum Orbit lets developers create their own dedicated Orbit chain that settles to one of Arbitrum’s Layer 2 (L2) chains: Arbitrum One, Arbitrum Nova, Arbitrum Goerli, or Arbitrum Sepolia, creating the most advanced scaling blockchain solution on the market.

Celestia is a modular consensus and data network that securely scales with the number of users. Celestia is on track to be the first modular DA solution for Ethereum developers that scales based on Data Availability Sampling (DAS), optimized to provide the data throughput needed for millions of rollups without compromising on security for end users. Ethereum and Arbitrum developers can tap into Celestia via Blobstream, currently relaying data to Ethereum Sepolia testnet for integration with leading rollup frameworks. Blobstream can be deployed on Arbitrum L2s for integration with Arbitrum Orbit and the Nitro tech stack.

“We are excited to welcome Celestia to the Arbitrum ecosystem and making their technology available for Orbit chains,” said Elias Abi Daoud, Community Lead at Arbitrum Foundation. “With the permissionless nature of the Orbit tech stack, we’re excited to see the broadening range of supported data availability options beyond Ethereum, and we look forward to growing the diverse network of developers taking advantage of this technology.”

“Our mission is to make deploying a blockchain as easy as deploying a smart contract,” said Mustafa Al-Bassam, Director of the Celestia Foundation and co-Founder of Celestia. “This integration brings Celestia’s modular DA layer to Arbitrum’s vibrant ecosystem, enabling developers to launch high-throughput, customizable chains using Orbit and Stylus.”

Integration of Celestia is the first external contribution to the Arbitrum Orbit protocol layer, thus providing an additional option for developers selecting a data availability layer alongside Arbitrum AnyTrust. Celestia is in the final stages of its Mainnet Beta launch sequence. In the coming weeks, Orbit developers will be able to integrate with Celestia with full Nitro integration.

About The Arbitrum Foundation

The Arbitrum Foundation, founded in March 2023, supports and grows the Arbitrum network and its community with secure scaling solutions for Ethereum. Arbitrum One—a leading Ethereum Layer-2 scaling solution initially developed by Offchain Labs—offers ultra-fast, low-cost transactions with security derived from Ethereum through Optimistic Rollup technology. Launched in August 2021, the Arbitrum One mainnet beta is EVM-compatible to the bytecode level and has 54%+ TVL in the L2 segment. 2000+ DeFi and NFT projects are live in the ecosystem to date. In August 2022, Arbitrum One upgraded to Nitro tech stack, enabling fraud proofs over the core engine of Geth compiled to WASM.

About Celestia

Celestia is the first modular data availability network that securely scales with the number of users, making it easy for anyone to launch their own blockchain.

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Summer Capital Limited Announces Nodes Hosting on Zetrix Blockchain Network

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Summer Capital Limited (“Summer Capital”), a leading investment management and advisory firm with a presence in Hong Kong and Southeast Asia, today announced its intention to host nodes on Zetrix, a public blockchain platform that operates the international supernode of China’s national blockchain, Xinghuo BIF.

This investment comes at a time of significant development for the digital assets and blockchain industry in Hong Kong. In June 2023, the Hong Kong Securities and Futures Commission (SFC) introduced a new regulatory framework for virtual asset trading platforms which is expected to further boost the adoption of cryptocurrencies in the city. The government of Hong Kong has also established the Task Force on Promoting Web3 Development, aiming to foster the adoption of blockchain technology in finance, trade, business operations and other consumer applications.

Zetrix is well-positioned to capitalise on this growth, given its unique focus on enabling global trade through its connection to Xinghuo BIF. Developed by the Chinese Academy of Information & Communication Technology (“CAICT”), a state owned research institute under the Ministry of Industry and Information Technology, Xinghuo BIF is China’s national blockchain infrastructure and facility that provides a secure and reliable platform for businesses and governments to develop and deploy blockchain applications.

By connecting to Xinghuo BIF, Zetrix provides users with access to China’s immense digital economy. This makes Zetrix an ideal platform for businesses that are looking to expand their operations into China or to trade with Chinese partners.

“We are excited to partner with Zetrix to help them achieve their mission of enabling global trade, leveraging access to China’s national blockchain, Xinghuo BIF,” said Joseph Chee, Chairman of Summer Capital. “With Zetrix building the foundational tools for the adoption of blockchain technology by industries, we believe that they are well-positioned to catalyse the next wave of web3 innovation.”

Summer Capital, together with its affiliated entities, count several market leading startups within their portfolio especially in Hong Kong, including Asia’s leading regulated virtual asset service provider Hashkey Group, Web3 leader in establishing digital property rights and open metaverse Animoca Brands, and SEBA Bank, which recently received approval-in-principal licenses from the Securities and Futures Commission to offer virtual asset services in Hong Kong.

“We are honoured to have Summer Capital as our strategic partner” said TS Wong, Co-Founder of Zetrix. “Summer Capital’s portfolio and proven track record of investments in leading web3 companies will bring tremendous value. Leveraging on their presence and network in Hong Kong will help us achieve the stated objectives of Zetrix.”

About Summer Capital

Summer Capital is a leading investment management and advisory firm with presence in Hong Kong, China mainland and South East Asia and dedicated to invest in early and growth stage companies in “new economy” sectors such as fintech, blockchain infrastructure and application, consumption technology and healthcare. Summer Ventures, an affiliate of Summer Capital Limited, is an institutional venture fund dedicated to promote and invest in “real world application” of blockchain technology and infrastructure, leveraging Summer Capital’s past experience of investments in blockchain and fintech industries since 2018.

About Zetrix

Zetrix is a layer-1 public blockchain that facilitates smart contracts and delivers privacy, security and scalability. Zetrix’s cryptographic infrastructure can be introduced to multiple industries to connect governments, businesses and their citizens to a global blockchain-based economy.

Developed by MY E.G. Services Bhd, the cross-border and cross-chain integration with China enables Zetrix to serve as a blockchain gateway that facilitates global trade by deploying critical building blocks for Web3 services such as Blockchain-based Identifiers (BID) and Verifiable Credentials (VC).

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TangleSwap To Revolutionize Cardano DeFi Ecosystem

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TangleSwap is not merely a DeFi platform; it is a catalyst for change, innovation, and growth for the Cardano ecosystem.

[October 19, 2023] – TangleSwap, the pioneering force in the decentralized finance (DeFi) segment, is set to transform the Cardano blockchain landscape. Bringing innovative solutions, TangleSwap is maneuvering in a new era of Decentralized Exchanges (DEXs), fostering seamless transactions and empowering communities. The TangleSwap suite encompasses an array of exclusive features aimed at revolutionizing the Cardano ecosystem.

What Does TangleSwap Onboard?

TangleSwap equips communities with state-of-the-art DeFi infrastructure, featuring a suite of six popular and user-friendly decentralized applications (dApps). At its core lies the Concentrated Liquidity Market Maker (CLMM) decentralized exchange (DEX), offering cutting-edge Swap and Liquidity Pools.

TangleSwap introduces the Concentrated Liquidity ‘Smart’ Farms, enabling projects to act as their own market makers, ensuring liquidity within specific price ranges. The platform also pioneers Vote-Escrowed Staking, providing a high-value proposition and addressing the need for passive DeFi yield options on Cardano. Some other features are the following:

  • Decentralized Launchpad: TangleSwap facilitates the seamless launch of new tokens and fundraising through its Decentralized Token Launchpad. On top of that, the platform offers NFT Staking, catering to the needs of the growing NFT community in Cardano.
  • Flawless DeFi Experience: TangleSwap provides users with a sleek user interface and experience in what it terms ‘Invisible DeFi’. This enhanced approach enables users to interact with digital assets without even realizing they are engaging with the DeFi platform.
  • Interoperable Multi-Chain Liquidity: TangleSwap ensures an interoperable layer of multi-chain liquidity, making technical complexities fade into the background for users. This achievement marks a significant step towards making DeFi user-friendly and accessible.
  • Vibrant Community and Effective Brand Positioning: TangleSwap boasts a highly engaged, loyal community, cultivated through a user-centric approach, extensive education efforts, and compelling storytelling. The platform’s vibrant aesthetics and innovative products further enhance its appeal, creating a strong sense of belonging among users.

“Upon evaluating Cardano’s robust and secure technical framework, it became evident that together with its passionate community, it would serve as an optimal layer to catapult TangleSwap closer to its mission of making DeFi mainstream.”- TStrong, Co-Founder TangleSwap

Resolving Cardano’s Community Concerns

TangleSwap aims to address the problem of limited available liquidity in the Cardano ecosystem by introducing Concentrated Liquidity, Smart Farms, and a Decentralized Reputation System led by staking, making liquidity more efficient and incentives programs more effective. By integrating with the Cardano blockchain and leveraging its Ethereum Virtual Machine (EVM) origin, TangleSwap becomes a catalyst for both internal and external growth. It garners users and high-value protocols from other chains into Cardano, enhancing the overall DeFi segment.

TangleSwap ensures truly decentralized, transparent, and open DeFi. The platform has been comprehensively audited by Zokyo, guaranteeing secure transactions and complete transparency for users. TangleSwap’s suite of products offers a solid foundation for any ecosystem entering its expansion phase. The platform aims to set new standards in DeFi technology and user experience, providing solutions not available elsewhere in the crypto space.

Cardano Community Welcomes TangleSwap

TangleSwap received an overwhelming reception from the Cardano community after its X’s post on joining the ecosystem. The DeFi project has a dedicated community, built over the course of two years, and is ready to support any ecosystem and partner that enhances the product offering. Data-backed and community-driven, TangleSwap’s growth is a testament to its commitment to the Cardano community.

In a nutshell, TangleSwap is more than a DEX; it has a comprehensive DeFi solution that bridges multiple gaps in the Cardano ecosystem. It brings technological innovation, enhanced liquidity, and a vibrant community, laying the groundwork for Cardano’s next phase of scalability.

About TangleSwap

TangleSwap is a leading decentralized finance (DeFi) platform on the Cardano blockchain, offering cutting-edge solutions and innovative products to empower communities and foster seamless transactions. With a focus on user-centric design and groundbreaking technology, TangleSwap is revolutionizing the way users engage with DeFi.

Follow TangleSwap For More Updates:

● Twitter: @TangleSwap
● Discord: @TangleSwap

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