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Pillars of Finance: New Alternative Investment Event Takes the Stage

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On April 4th, 2023, Pillars of Finance, sponsored by Preferred Trust Company, will host its inaugural virtual event featuring industry expert speakers from Ignite Funding. Investors across the U.S. will learn how to add above market average yield, passive real estate investments into their retirement account to reap the benefits of tax-deferred or tax-free growth.

As markets fluctuate, laws change, and taxes inevitably increase, it is more apparent than ever before that Americans need to employ every advantage at their disposal to reach their retirement goals.

Pillars of Finance is an investment community created by industry experts for investors of all levels. Each event is specifically tailored for the exploration of different alternative assets such as cryptocurrency, oil and gas, and precious metals to name a few. Investors will be able to use these alternative investment pillars to build the foundation for strategic tax-sheltered growth.

“When traditional investments are volatile, alternative investments are talked about,” says Carrie Cook, CEO of Preferred Trust Company. “As a self-directed custodian, we see through a microscope the alternative investments that are performing for our clients, and we want to share this with you. Join us as we take a deeper dive into alternative investments with leading experts to diversify your investment portfolio.”

To register for the event, visit pillarsoffinance.com

About Pillars of Finance

Pillars of Finance is sponsored by Preferred Trust Company, one of the leading self-directed IRA custodians in the industry. As an advocate for retirement savers, Preferred Trust Company realized that the greatest barrier to entry into alternative investments is knowledge. Pillars of Finance will host events throughout the year to provide investors of all levels with the tools they need to navigate investments that were once reserved for the extremely wealthy.

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Validation Cloud Secures $5.8 Million in Inaugural Funding to Propel Web3 Infrastructure

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In a significant stride towards revolutionizing Web3 infrastructure, Validation Cloud has proudly announced the successful closure of its first external investment round, amassing $5.8 million. Spearheaded by San Francisco-based Cadenza Ventures, this funding round exceeded expectations with contributions from an impressive roster of international investors, including Blockchain Founders Fund, Bloccelerate, Blockwall, Side Door Ventures, Metamatic, GS Futures, and AP Capital.

Alex Nwaka, Co-Founder of Validation Cloud, expressed enthusiasm about the funding, “This investment marks a pivotal moment for Validation Cloud as we aim to address the urgent demand for scalable and compliant Web3 infrastructure. We’re honored to collaborate with our investors who are instrumental in propelling the global adoption of our platform among cutting-edge networks, developers, and asset managers.”

Validation Cloud is at the forefront of Web3 technology, having developed an innovative system architecture that paves the way for significant advancements in the sector. Known as the “Cloudflare of Web3,” the company offers a robust, scalable, and intelligent platform providing Staking, Node API, and Data services, drawing inspiration from Cloudflare’s transformative impact on Web2 infrastructure.

Founded by veterans in the Proof-of-Stake domain, Validation Cloud boasts a team of highly experienced professionals from renowned organizations such as Uber, Workday, Deloitte, Citadel, Morgan Stanley, Binance, Crypto.com, Figure, R3, and more, emphasizing a talent-first approach with a worldwide workforce.

Kumar Dandapani, Managing Partner at Cadenza Ventures, highlighted the strategic vision behind their investment, “At Cadenza, we do not invest in just any company; we invest in the future of transformative technologies. Validation Cloud’s pioneering role in Proof-of-Stake and their relentless pursuit of next-generation Web3 infrastructure have set them apart as leaders in the Web3 space.”

Aly Madhavji, Managing Partner at Blockchain Founders Fund, shared his thoughts on the investment, “We believe in the transformative power of Web3 and its ability to redefine how businesses operate. Investing in Validation Cloud aligns perfectly with our vision of supporting innovative platforms that are ready to lead the next wave of digital transformation.”

Validation Cloud has earned a reputation for its close partnerships with networks from their nascent stages, supporting a wide array of ecosystems from established ones like Chainlink, Hedera, and Stellar to emerging networks such as Aptos, Eigenlayer, and Berachain. Their platform lays the groundwork for the enterprise adoption of networks, positioning Validation Cloud as a key player in the Web3 infrastructure landscape.

For further details on Validation Cloud and its offerings, please visit www.validationcloud.io.

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GalaSwap: Revolutionizing DeFi with Blazing Speed and True User Ownership

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Gala, a leading Web3 entertainment company, launches GalaSwap, the first-ever Decentralized Exchange (DEX) built on their GalaChain blockchain. This innovative platform boasts unmatched speed and affordability, empowering users to trade efficiently and cost-effectively, while fostering true ownership and community engagement within the Gala ecosystem.

With an impressive transaction processing capacity of 2 million per second, GalaSwap leaves traditional DEXs behind. This rapid performance empowers users to seize real-time opportunities and navigate the dynamic market landscape with confidence. Supported by a robust network of over 43,000 secure nodes, GalaChain ensures rapid transaction processing, enhancing the speed of asset transactions for users.

Recognizing the importance of cost-effectiveness, GalaSwap prioritizes affordable trading. By offering substantially lower fees compared to prominent networks like Ethereum and Solana, GalaSwap enables users to maximize their trading potential without incurring excessive costs. Additionally, the platform actively rewards users for their participation. Every trade conducted on GalaSwap earns users GalaSwap tokens, while a referral program incentivizes community growth by rewarding users for introducing new participants to the ecosystem.

GalaSwap offers robust token trading capabilities for a diverse range of Ethereum-based assets, providing access to various assets within the Gala ecosystem. Looking ahead, the upcoming Version 2 update unlocks trading for Non-Fungible Tokens (NFTs), starting with Gala-specific offerings and expanding to support broader compatibility in the future. This opens exciting avenues for diversified investment and community engagement within the growing NFT space.

More than just a trading platform, GalaSwap fosters user’s genuine ownership of assets and empowers them to actively shape the future of the Gala ecosystem. By participating in GalaSwap, users become active influencers in Gala’s evolution.

GalaSwap is set to launch today at 9 a.m PST. For more information and updates, please visit GalaSwap.gala.com

About Gala

Gala is a leading web3 entertainment company focused on empowering fans and creators through web3 ecosystems and true content ownership. Gala is paving the way towards the future of entertainment by developing new solutions and opportunities for developers on their proprietary blockchain: GalaChain. Learn more at Gala.com.

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Technologies

Introducing Cloud Binary Server – Secure, and Anonymous Cloud Solutions for Decentralized and AI ML Applications

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Cloud Binary Server announces the launch of its cloud-based infrastructure service providing a dedicated and cost-effective server solution for businesses and individuals. The platform offers a simplified process for customers to buy cloud infrastructure through a Telegram bot. This approach eliminates the need for complex procedures and technical knowledge, allowing a broader audience to acquire cloud infrastructure.

Cloud Binary Server aims to revolutionize the tech industry by focusing on privacy, security, and anonymity. Its dedicated server platform offers anonymous cloud server solutions for decentralized applications and AI machine learning. Moreover, it empowers users and democratizes governance with the CBY token.

Cloud Binary Server recognizes the delicate balance between technological advancement and privacy, offering a solution that prioritizes both. The platform provides services such as web hosting, email hosting, and file storage while ensuring high levels of privacy and security.

The platform caters to users who value anonymity by allowing anonymous cryptocurrency payments. Moreover, it’s end-to-end encryption adds an extra layer of security, making it an ideal choice for those requiring anonymous cloud services.

Lastly, Cloud Binary Server provides free technical support to ensure users have the necessary aid to succeed. This free, 24/7 assistance includes help with installation, configuration, customization, and troubleshooting, ensuring users have a seamless experience on the platform.

Cloud Binary (CBY) Token

The CBY token is the native governance token of Cloud Binary. Holders can use CBY to participate actively in the Cloud Binary ecosystem, vote on governance proposals, benefit from exclusive features, and become an integral part of the Cloud Binary community.

Holding CBY tokens has the following benefits:

Product Access

CBY holders enjoy complete access to all of Cloud Binary’s products.

App Discounts

CBY holders are entitled to discounts on all of Cloud Binary’s services, including website hosting, email hosting, and file storage.

Earn Passive Income

CBY holders have the opportunity to earn rewards through three different methods.

Partner Benefits

The CBY token is a versatile cryptocurrency with multiple purposes. One is for a new project airdrop campaign and staking at our partner’s liquidity pools, allowing users to earn rewards for providing liquidity to the platform.

About Cloud Binary Server

Cloud Binary Server launched in 2024 as a cloud infrastructure platform providing robust and flexible solutions for hosting and computing needs. The company aims to meet the demands of individuals and businesses with a versatile offer of secure and anonymous services, including web hosting, email hosting, file storage, and more.

Overall, Cloud Binary Server offers affordability, accessibility, and reliable customer support to emerge as a viable solution for users seeking a dedicated, easy-to-use cloud infrastructure service.

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Blockchain

Solsniffer Is The First Token Sniffer On Solana About To Set A New Security Standard

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Solsniffer, the first blockchain intelligence tool for the Solana blockchain, is now live!

Bonk’s explosive rise gave Solana an impressive boost in traders adoption, but with great power comes great challenges. The inflow of scams on Solana made it clear it needed a security upgrade.

The app allows Solana traders to make better-informed decisions by detecting security risks on Solana tokens with +18 security indicators. Some of these include mint risk, freeze risk, liquidity check, metadata immutability, and many more.

In the future versions of the blockchain intelligence tool, over 40 security indicators will be used to analyze Solana tokens, and an API will also be deployed for ecosystem partners building with our technology.

Solsniffer aims to become a leader in the blockchain intelligence sphere on Solana.

“As the first blockchain intelligence app of its kind on Solana, we believe Solsniffer represents the need for traders to be safe and to understand the risks of the tokens they interact with. It is no longer business as usual for scammers; it’s time to be a step ahead of fraud,” say the team founders.

Experienced with innovative blockchain products, the team is planning to release a new platform update every week until the roadmap is completed.

Announcements will be released in the coming weeks inside the Solsniffer Telegram community.

For more information, visit solsniffer.com.

About Solsniffer

Solsniffer is the first Solana token sniffer against vulnerabilities, security risks and frauds. As visionaries in the blockchain security space, the Solsniffer’s team aims to set a new security standard on Solana. With its 1-click token scanning, Solana users can make better-informed decisions by detecting potential scams.

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Altcoins

CardanoGPT (CGI) Token Skyrockets Amid AI Crypto Frenzy, Urging Investors to Seize the Opportunity

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In an electrifying surge that has captured the attention of the cryptocurrency world, CardanoGPT (CGI) witnessed a remarkable 40% increase in value within just 24 hours, following the unveiling of OpenAI’s groundbreaking Sora and a significant profit jump for Nvidia, a company that produces chips that most AI companies use.

This surge positions $CGI not just as a token of interest on the Cardano ecosystem, but as a must-have asset for forward-thinking investors and AI enthusiasts alike.

A Leap Forward for CardanoGPT and AI Cryptocurrencies

CardanoGPT, a pioneering Cardano-based cryptocurrency, is at the forefront of leveraging artificial intelligence (AI) to streamline web3 community management. Amidst a wave of enthusiasm within the Cardano blockchain, CGI’s value has not only soared by over 40% in recent days but also experienced an astounding 1000% growth over the past six months.

As of the latest data from Taptools, CGI ranks among the top three gainers within the Cardano ecosystem, outpacing notable projects like $AGIX.

The Rising Star: $CGI Token

Currently trading at $1.60 according to Coinmarketcap, the $CGI token is enveloped in optimism, with many investors and enthusiasts predicting it will surpass its all-time high of $3.55 in the upcoming bull run.

CGI serves a dual purpose within the CardanoGPT platform, acting as both a utility token and a governance token for platform decisions.

Essential for accessing the platform’s innovative features, such as the Girolamo AI Agent, CGI tokens are the key to a new era of AI-driven community management.

Introducing the Girolamo AI Discord Agent

Named after the renowned mathematician Girolamo Cardano, the Girolamo AI Discord agent is a testament to CardanoGPT’s technological prowess, offering contextually aware responses and the remarkable ability to generate and interpret images.

An Exclusive Opportunity: Beta Testing with a Minimum of 5000 CGI Tokens

CardanoGPT has outlined specific participation criteria for those eager to beta test the Girolamo AI agent, including the requirement to hold at least 5000 CGI tokens.

This threshold not only encourages investment in the burgeoning CGI ecosystem but also grants exclusive access to cutting-edge AI functionalities.

Earn Rewards and Explore Governance Opportunities

Investors have the chance to provide liquidity with $CGI on Wingriders, a rapidly growing dex on Cardano, and enjoy farming rewards of up to $2000 every five days.

Furthermore, speculative insights suggest that CardanoGPT is developing staking contracts that will allow $CGI holders to earn additional tokens and engage in the early stages of platform governance.

Why Invest in CGI Now?

The meteoric rise of the CGI token is a clear indicator of CardanoGPT’s commitment to delivering AI-powered products that redefine community management in the blockchain space. As the AI cryptocurrency sector flourishes, CGI emerges as an invaluable asset for investors seeking to capitalize on the next big wave of digital innovation.

Act Now: The Time to Buy CGI is Here

With the AI crypto market on an unprecedented upswing and CGI’s potential trajectory poised to break records, the call to action for savvy investors is clear:

Acquiring at least 5000 CGI tokens now could unlock unparalleled opportunities in the burgeoning field of AI and blockchain technology.

Join CardanoGPT’s discord server to connect with the fast growing $CGI community.

About CardanoGPT

CardanoGPT is revolutionizing the blockchain space with its AI-driven solutions, making it easier for web3 communities to manage and engage. By integrating cutting-edge AI technology with the robust Cardano blockchain, CardanoGPT is setting new standards for innovation, accessibility, and community involvement in the digital era.

Website: https://cardanogpt.ai/
Twitter: https://twitter.com/replyada
Discord: https://cardanogpt.ai/discord

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News

Transient Labs Set to Redefine the Art Experience on Arbitrum

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Transient Labs, a leader in the web3 art community, is excited to announce a series of partnerships and activations that bring enhanced digital art capabilities into the Arbitrum ecosystem. Transient Labs will leverage Arbitrum’s low gas costs, accessibility, and growing community to foster more interaction and less friction for creators and collectors within the ecosystem. As part of the collaboration, Transient Labs will also receive a grant from The Arbitrum Foundation to endorse projects that bring innovative and diverse value to the network.

To spearhead the collaboration, Transient Labs will launch the ’24 Hours of Art Genesis Catalog Campaign’ with Roger Dickerman; this initiative invites artists to mint their archival works on Arbitrum, taking advantage of Arbitrum’s low gas costs. The company will provide an initial grant to support creators in this endeavor by covering minting and inscription expenses, fostering ease of entry and enhanced visibility for their digital art archives. Culminating this campaign, Roger Dickerman will craft a professional report, spotlighting 24 of the most compelling works minted on Arbitrum. This report will showcase the artists’ talents and emphasize the diversity of digital art preserved on the blockchain, further pushing the #ARTonARB community.

Chris Ostoich, COO at Transient Labs, commented on today’s news: “Our mission is to make digital art accessible to the masses and provide the art community with a platform to promote their creativity and innovation. The Arbitrum community has been among the most active in exploring digital art. We’re excited to introduce a series of partnerships and activations that continue to grow that network segment.”

Transient Labs will be announcing two major initiatives that are set to redefine Arbitrum’s presence in art. First, the company will be partnering with Floor, adding a new distribution channel for Arbitrum NFTs minted via The Lab. This collaboration aims to streamline the NFT experience for uses on Arbitrum, onboard more collectors to ARTonARB, and deliver significantly increased discoverability to artists.

Additionally, Digital Dreams and Transient Labs are combining forces to bridge the digital and real worlds via a five-week First Friday Art Walk in Kansas City powered by Arbitrum. Digital Dreams stands as Kansas City’s vanguard digital art gallery, pioneering the integration of digital creativity and blockchain in the Midwest. The partnership aims to set the standard for what’s possible with blockchain technology regarding driving the evolution of digital art and its curation.

Nina Rong, Head of Ecosystem Development at The Arbitrum Foundation, added: “We are happy to support Transient Labs in their efforts to continue fostering discovery in the digital art sector. We’re excited to see what our collaboration brings to the Arbitrum ecosystem both in the near and long term.”

About Transient Labs

Transient Labs is at the forefront of Web3 innovation, serving creators, projects, and ecosystems globally. We are dedicated to unlocking the potential of blockchain and smart contract technology, redefining ownership in the digital era. Visit transientlabs.xyz or follow us on Twitter for more information.

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.

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Blockchain

Terraform Labs Launches Warp Protocol v2, the Decentralized Automation Layer for Cosmos

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Terraform Labs PTE Ltd. (TFL), a leading software company specializing in blockchain technology, today announced the launch of a major upgrade to Warp Protocol, the decentralized automation layer for the Cosmos ecosystem that allows developers to create novel features and experiences for their users through cost-efficient, on-chain automation—no smart contract changes needed.

Warp v2 features improved account management, a revamped fee mechanism with a more dynamic and flexible fee calculation system, and switch statements for Warp job executions.

“Our team at TFL has been laser-focused on building and bringing best-in-class, cross-chain applications to market,” said Chris Amani, CEO of Terraform Labs. “Warp v2 brings exciting new features and utility to developers in the Cosmos ecosystem. As we continue to build, we look forward to rolling out more additions and updates to TFL’s cutting-edge suite of applications this year.”

Warp enables developers to schedule future transactions, referred to as “jobs,” by defining specific conditions based on on-chain data. When these conditions are met, anyone running a Warp keeper bot can execute the job and receive the rewards set for job execution by the job creator. Warp’s flexible design opens up a wide range of possible use cases, such as automated liquidity management, trading strategies, efficient reward systems, fund migration, and more. Instead of modifying smart contract functionality to enable new automated features, developers can attract new users and capital simply by integrating Warp functionality into their front end, allowing their users to set their desired conditions and create Warp jobs.

The Warp Protocol v2 upgrade is TFL’s latest expansion of its Web3 offerings. The Company recently announced its acquisition of Pulsar Finance, a leading cross-chain portfolio manager and data provider, and launched Station v3, its cross-chain wallet enabling seamless multi-chain token swaps and sends, gas fee token top-ups, and advanced cross-chain transaction history.

About Terraform Labs

Established in 2018 and based in Singapore, Terraform Labs PTE Ltd. (TFL) is a leading software development company specializing in blockchain technology. Powered by a globally distributed workforce of experienced Web3 developers and crypto natives, TFL is one of the few companies to have developed an end-to-end Web3 experience, inclusive of a blockchain, wallet, block explorer, RPC solution, set of apps, and a suite of developer tools. Aiming to enable the next evolution of the Internet built on robust, decentralized economies, TFL serves as a core contributor to the Terra blockchain and is the creator of products and tools such as Alliance, Warp, and Enterprise.

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Technologies

Volcano X Pioneers Sustainable Practices in Bitcoin Mining, Embracing Bitcoin Mining’s Transformative Era

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In an era marked by rapid technological evolution and financial innovation, Volcano X stands out as a pioneering force in the Bitcoin mining industry. Since its inception in 2018, Volcano X has navigated the complex landscape of cryptocurrency mining with unmatched expertise and forward-thinking strategies. As Bitcoin continues to solidify its position as the premier digital currency, Volcano X is leading the charge into a transformative era of mining, especially in the wake of the pivotal Bitcoin halving events.

The Halving: A Periodic Catalyst for Bitcoin

Bitcoin’s design includes a feature known as ‘halving,’ where the reward for mining new blocks is cut in half approximately every four years. This mechanism serves to gradually reduce the supply of new bitcoins, ensuring that the total supply approaches but never exceeds 21 million coins. Each halving event has historically led to increased public attention and speculative interest around Bitcoin, influencing its price and the mining landscape at large.

Volcano X Fund has adeptly leveraged these halving events as opportunities to optimize its mining operations and strategy. By anticipating changes and adapting to the new mining reward landscape, Volcano X has maintained its profitability and continued to contribute to the robustness and decentralization of the Bitcoin network.

Operational Excellence in Mining

Mining profitability hinges on factors such as electricity costs, hardware efficiency, and network difficulty. Volcano X Fund has been proactive in adopting state-of-the-art mining rigs and securing energy sources at competitive prices. By optimizing their operational footprint, they have positioned themselves favorably within the industry.

Moreover, Volcano X views the decentralization of mining power as crucial for the security and integrity of the Bitcoin network. They advocate for a distributed mining ecosystem that prevents any single entity from gaining disproportionate influence over the blockchain.

Innovation Beyond Halving Events

While halvings are significant milestones, Volcano X stresses that innovation in the mining space is not confined to these events. The ongoing development of more efficient mining hardware, renewable energy integration, and the exploration of novel cooling technologies demonstrate the dynamic evolution of Bitcoin mining.

Volcano X anticipates substantial growth in the sector beyond 2023, fueled by technological advancements and increasing institutional acceptance of cryptocurrencies. As a pioneer in this field, Volcano X has successfully navigated past halvings and is well-prepared for future shifts in the mining landscape.

Volcano X: Pioneers Since 2018

Since commencing its Bitcoin mining operations in 2018, Volcano X has witnessed the ebbs and flows of the crypto market firsthand. Their early entry into mining allowed them to accumulate valuable expertise and build resilience in the face of market volatility. Today, Volcano X continues to leverage this experience to expand its mining capabilities and explore emerging opportunities within the industry.

With an eye towards sustainability, Volcano X is also investing in research and partnerships to reduce the environmental footprint of mining operations. They believe that environmentally conscious mining is not just an ethical imperative but also a competitive advantage in attracting eco-minded investors.

Conclusion

As the cryptocurrency market evolves and prepares for future halving events, Volcano X’s blend of experience, innovation, and strategic foresight positions it as a key player in shaping the future of Bitcoin mining. The company’s dedication to excellence, sustainability, and the advancement of the mining ecosystem ensures its continued leadership role in this dynamic sector.

For further insights and analyses from Volcano X, visit our website or contact our experts directly.

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Altcoins

FxBox – Crypto GameFi & DeFi with Forex Trading

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Introduction FxBox.io:

GameFi, NFTs & DeFi with Forex Trading (Investing & Trading P2E Financial Games). Fairly organized P2E Web3 GameFi project. Staking & Farming, Mining Currency NFTs, Marketplace NFTs, Decentralized Lottery, Trading from $1, Leverage 1:100 up to 1:1000, Swap Free & $FXB Token Accounts

Box Rules & NFT Probabilities:

FxBox players buy and unlock boxes for NFTs! 90 USDT can open 1 box which generates 1 random NFT and random Mining Power by rarity.

The NFT rarity obtained by opening the treasure box is completely random and is based on an RNG algorithm which generates your random NFT. The probabilities of obtaining NFTs are listed on the table.The opened Cards will be automatically staked and generate Mining Power. The more Mining Power you have, the more FXB tokens you can earn passively.

If you open a box, you may face a cooldown error when trying to sell the newly opened cards. This cooldown lasts 30 – 45 hours and is designed to prevent bad actors from cheating the box system. Please be patient if this occurs.

Only until March 15

BIG DISCOUNT NOW! $90 = $30
Try mining NFTs app.fxbox.io

About Lucky Box: https://fxbox.io/lucky-box/
Don’t miss out on the future of finance!

FxBox Features:

NFT MINING

Buy NFTs and stake the mining pool. Earn money online every second. More Mining Power (MP) will bring more revenue. NFT Currencies provide passive income to YOU as a FXBOX investor. Not only can you trade or stake but you can also mine with passive FXB flowing into your wallet every second with NO WORK required. This mining income is coming in the form of the FXB token.

NFT MARKETPLACE

FxBox Marketplace is where you can sell and buy NFT. You can build your favorite NFT collection and earn commissions from affiliate programs.

NFT FARMING

$FXB Liquidity Pools

$FXB/BNB or $FXB/USDT tokens pairs can be staked and farmed NFTs with reward points, which can be earned daily based on the number of $FXB tokens that you have staked before.
You can claim the desired NFT when a sufficient quantity of points is earned.

$FXB Tokenomics

90% FxBox Community (Based on Mining Pool)
4% For Launchpad, Liquidity pools, Airdrops, Bounty. First year only
6% FxBox Ecosystem (Lottery injections, Forex and Oracle games).

For more info:
Website: https://fxbox.io/
Telegram Chat: https://t.me/FxBox_Official

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News

Sovereign Yidindji Government and Sovereign Wallet Join Forces on Currency Alliance Initiative

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The Yidindji Sovereign Government, an Australian Aboriginal micro state, has formed a partnership with Sovereign Wallet Co., Ltd. to use the MetaMUI CBDC platform for developing the Allodial Unity Digital Dollar (AUDD). This initiative seeks to foster economic cooperation, trade, and mutual prosperity among Indigenous nations on the Australian continent through a unified digital currency.

Since January 2022, Sovereign Wallet has provided the Yidindji with advanced National Identity and CBDC solutions, facilitating easy access to critical financial services. This collaboration introduced the world’s first self-sovereign identity-based national identity system. Moreover, together, they launched the Sovereign Yidindji Dollar (SYD), marking a significant achievement by deploying a CBDC in about 4 hours using the MetaMUI CBDC Cloud Service, a testament to the partnership’s success in financial innovation.

Sovereign Wallet’s MetaMUI identity-based blockchain underpins AUDD, ensuring legal compliance, privacy, and enabling immediate peerto-peer transactions. This decentralized method reduces reliance on central banks and enhances financial stability in the AUDD alliance. Unlike the Euro, AUDD acts as an account unit for Indigenous currencies, backed by their nation’s unique assets, eliminating the need for a central managing authority. This framework allows Indigenous communities to regain economic independence and build collective economic resilience.

Key Highlights of the AUDD Initiative:

  • Unified Ledger CBDC: AUDD serves as a relay chain that connects and unifies each Indigenous nations own national currency. Each nations currency would have their own ledger. It will be powered by Chained Cash technology pioneered by Sovereign Wallet.
  • Co-existence of Common Currency and Sovereign National Currency: Each currency alliance participating countries does not need to give up their own currency to join common currency alliance. Each country can increase its monetary power through a common currency while maintaining its independent currency sovereignty. This is a reproduction of Bancor, which Keynes had proposed.
  • Decentralized Monetary System: The AUDD features a decentralized monetary system where each participating country is a member of the governance council, collectively managing the common currency, AUDD, via a voting mechanism on the MetaMUI blockchain. Exchange rates between national currencies, like the Yidindji Dollar, and AUDD are automatically determined by the volume of AUDD reserves and the issuance volume of the national currency by each country.
  • Direct cross-border payment and algorithmic exchange bank: Leveraging MetaMUI’s Chained Cash technology, residents of Indigenous nations can conduct cross-border transfers directly from their wallets, bypassing traditional banking institutions.

Murrumu of Walubara, the Minister for Financial Technology, representing Sovereign Yidindji Government, stated, “The AUDD Initiative marks a crucial move towards creating an inclusive and sustainable future for indigenous communities. AUDD is more than just a digital currency; it’s a symbol of empowerment and collective effort. We’re honored to collaborate with Sovereign Wallet, utilizing their knowledge to empower our communities and change the story of economic exclusion.”

Seokgu (Phantom) Yun, CEO of Sovereign Wallet Co., Ltd, adds, “Three years ago, Yidindji became the first nation to adopt MetaMUI’s CBDC platform. We’re thrilled to further this partnership and initiate a new phase of fast cross-border payments. AUDD holds the promise to transform the financial framework for Indigenous communities, promoting economic inclusion and sustainable growth.”

The AUDD Initiative represents a significant leap towards economic sovereignty for indigenous tribes, aligning with global efforts to build a more sustainable and inclusive financial ecosystem.

About Sovereign Wallet Co., Ltd

Sovereign Wallet is dedicated to deliver financial services to millions of people by leveraging identity-based blockchain. Our flagship technology, MetaMUI, is reshaping the financial landscape, fostering self-sovereign finance, and constructing a sustainable, inclusive economic model. We digitize vital national infrastructure – from identity and credentials to financial transactions – eliminating the need for paper and empowering individuals with self-sovereign finance. MetaMUI’s hybrid structure is ideal for global applications, ranging from central banks to digital stock exchanges and cross-border payments, reinforcing our vision of an inclusive and sustainable economy.

About Yidindji

The Yidindji people are a rainforest-based society with several clan groups in the area as far north as Queensland on the Australian continent. The Sovereign Yidindji Government has a rich history and deep connection to the land. Since its inception in 2014, the SYG has established various departments and consistently enacted laws for the well-being of its people. The AUDD Initiative represents a key pillar in its ongoing efforts to secure economic self-determination and build a brighter future for generations to come.

Socials

Homepage: https://www.swnglobal.com
Discord: https://discord.gg/metamuiofficial
LinkedIn: https://www.linkedin.com/company/sovereignwallet-network/
Twitter: https://twitter.com/MUIcommunity
YouTube: https://www.youtube.com/c/SWNGlobal
Medium: https://sovereignwallet.medium.com/
Facebook: https://www.facebook.com/SovereignWallet

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