Six major South Korean banks including Shinhan Bank, the second largest bank in the country, will officially begin providing local cryptocurrency exchanges with virtual bank accounts.
Virtual Accounts Restarted, Traders Relieved
On South Korean cryptocurrency exchanges, each trader or investor is provided with a virtual bank account which can be used to deposit or withdraw large amounts of fiat money, or Korean won. Virtual bank accounts allow traders to execute fiat-to-cryptocurrency trades efficiently, without having to withdraw or deposit using actual bank accounts that can be costly and time-consuming.
Earlier this month, South Korean cryptocurrency exchanges were requested by local financial authorities to overhaul their current Know Your Customer (KYC) and Anti-Money Laundering (AML) systems. Two of the many requirements the government demanded local exchanges to comply with were the prohibition of foreigners from trading cryptocurrencies and the elimination of anonymous cryptocurrency trading accounts.
As a part of the AML system change, banks were asked to shut down virtual banking accounts provided to cryptocurrency exchanges. Kookmin Bank, the largest bank in South Korea, refused to provide services to cryptocurrency trading platforms, leading local investors to fear for a potential cryptocurrency trading ban, which was later refuted by the South Korean government.
Recently, Bithumb and Korbit, two of the biggest cryptocurrency exchanges in the market, announced major changes to their AML systems. By the end of January, the Korbit team stated that foreigners will no longer be able to deposit Korean won to any South Korean exchanges — disabling fiat deposits and withdrawals for foreigners.
The Korbit team also noted that traders with Shinhan Bank accounts will only be able to trade cryptocurrencies starting February. While the newly implemented AML system can be inconvenient for existing users, it is an optimistic movement for the market, since the government will no longer be able to threaten the market with a cryptocurrency trading ban. The Korbit team stated:
“As previously announced, in order to comply with the identification and anti-money laundering regulations being enforced by the government, the current KRW deposit method will be terminated by the end of January 2018.
To use the new KRW deposit method, which is slated to be implemented within this month, you must have a Shinhan Bank account registered under your legal name. Please use this time to create a banking account at Shinhan Bank. We will follow up with further instructions on how to input the new KRW withdrawal account information on Korbit.”
Hence, even though Kookmin Bank has disabled its virtual trading accounts for cryptocurrency exchanges, Shinhan Bank, IBK Bank, NongHyup bank, KDB Industrial Bank, and Woori Bank will start providing services to cryptocurrency exchanges beginning on February 1.
Banning Cryptocurrency Trading Unrealistic
Instead of outright banning the local market, the South Korean government has decided to take a practical approach by regulating and fostering the cryptocurrency exchange market. As Financial Services Commission (FSC) chairman Kim Sang-jo previously stated, banning the cryptocurrency exchange market is unrealistic.
“[Banning cryptocurrency exchanges] is not realistically possible. Based on the electronic commerce law, the government doesn’t even have the authority to close down cryptocurrency trading platforms.
From the viewpoint of an economist, it is not a fair and transparent decision to outright ban economic activity. Whether it is excessive speculation or not, the gain or the loss is the responsibility of the investor.”
ShibaDoge Team Announces SHIBDOGE Token
The ShibaDoge team is excited to announce the release of the SHIBDOGE token. According to the team, the token was initially released as an Ethereum-based utility subtoken built on the principles of community, unity, and decentralization.
The ShibaDoge token was launched on December 24, 2021, and half of the total supply of 420 sextillion was burned as soon as it was launched.
The Tokenomics of ShibaDoge are designed to reward holders and grow the project through a buy and sell tax implemented on every transaction. ShibaDoge Tokenomics follow the 5 by 5 by 5 model, where a total of 15% of every transaction is equally distributed to the liquidity pool, holders, and marketing wallet.
The tokenomics for ShibaDoge also contains anti-whale protections by limiting an individual max wallet to 1%, meaning no single wallet can control a majority of the supply of the token.
ShibaDoge has the majority (85%+) of its liquidity locked in the smart contract forever. This means that no one, not even the developers themselves have access to the liquidity pool, further ensuring the safety and longevity of the token holders and project – a tailored solution embracing the long term vision of ShibaDoge and fulfilling the vision of decentralization. At the time of publishing, less than 15% of the ShibaDoge liquidity pool is kept by 3rd party liquidity locker Unicrypt.
How to buy ShibaDoge
ShibaDoge tokens are available for sale on Uniswap, although prospective investors can purchase it from any of the six centralized exchanges where it is listed.
The team advised intending investors to visit Uniswap and search the token contract address: 0x6adb2e268de2aa1abf6578e4a8119b960e02928f in the seller’s app: https://app.uniswap.org/#/swap?chain=mainnet. They can then swap Ethereum for whatever volume of the token they desire.
Other exchanges where the ShibaDoge token can be purchased are Lbank, XT.com, Hotbit.io, Digifinex, BKEX and Bitmart.
The ShibaDoge NFTs are the projects official first entry point into Non-Fungible Tokens (NFTs). At the time of publishing, there are two NFT collections released under the ShibaDoge ecosystem. Each collection contains a series of 10,000 unique hand drawn NFTs, representing highly trained and specialized combat veterans who are working together on the frontlines to one day see cryptocurrency become the official currency of earth.
The collections are known as the Doge Army and Shiba Army and can be traded on the NFT marketplace OpenSea. ShibaDoge’s 3rd project is a highly anticipated collection known as the ShibaDoge Army and is exclusively available to holders of pairs in each collection. The NFTs are used to gain exclusive access to various rewarded activities within the ecosystem and project governance.
Community of ShibaDoge
Within 7 months, the ShibaDoge ecosystem represents more than 25,000 wallet addresses holding the SHIBDOGE token and more than 3,000 NFT holders. More than 100,000 people follow the project across different platforms – with the majority of that on Twitter. The community is one of the most active across Telegram and Discord, with 24/7 voice chats ongoing more often than not. The Telegram and Discord experience is one of education and information about Cryptocurrency, Web3, and DeFi as a whole.
Vision of ShibaDoge
ShibaDoge’s vision of the future is laid out in a medium article (“A vision of Unity for the next 888 years”). The roadmap is driven by two common goals, 1. Reduce the barrier of entry and increase the adoptability of the token to the masses, and 2.
Further expand and extend on the core ecosystem, unifying the DeFi and Web3 space as a whole. The ultimate goal of the developers is to create an entirely self-sustaining ecosystem that is governed by the community of token holders and contributors to the project.
ShibaDoge (Token Symbol SHIBDOGE) started as a utility subtoken of the Ethereum network (an ERC20 token) founded on the principles of unity, community, and decentralization. The project was originally started by 5 early adopters and investors in Dogecoin and Shiba Inu who were looking to bring the two communities together.
The team has now grown to 15 people from all over the world with world-class expertise in smart contracts, Web3 development, NFTs and Media. Web3 will serve as the next frontier for human civilization and ShibaDoge intends to be at the forefront of this monumental paradigm shift.
The token was launched on December 24th, 2021 with a total supply of 420 sextillion tokens. At the time of launch, 50% of the total supply was immediately burned, and given that there are reflections to every wallet, including the burn wallet, ShibDoge is an auto-deflationary token.
Klaytn Protocol KLAP to Launch KLAP Token to Power DeFi Lending
KLAP (Klaytn Lending Application), a DeFi protocol operating on the Klaytn blockchain, is set to launch its native token. The KLAP token will be made available for trading on popular decentralized exchange ClaimSwap on July 25th, 10pm ET.
The KLAP token will power a range of use cases within the protocol’s growing ecosystem. A portion of the total supply will be awarded to liquidity providers and early adopters. Since launching in May, the Total Value Locked (TVL) on KLAP has soared to over $100m, making it the second most popular Klaytn dApp by this metric.
The Klap team said: “We are truly excited to allow the KLAP token to gain utility within our system and provide additional functionality for users after our protocol launch. As KLAP decentralizes, this is an important next step in community development and growth.”
Their focus on community engagement and long-term evangelism is clear. Impressively, KLAP have already committed 5% of the total token supply to early users, and anyone who participated in their pre-mining or lockdrop initiatives will be able to claim their KLAP tokens upon launch on the 25th.
The KLAP token has a total supply of 1 billion. 60 million of those tokens, comprising 6% of the supply, will initially be made available, giving KLAP a market cap of $75 million upon launch. In addition to orchestrating governance – by empowering token-holders to vote on key decisions, KLAP will be at the heart of the lending protocol’s operations.
Protocol users who elect to lock their KLAP tokens on the platform for a fixed period will be awarded veKLAP, a non-tradable representation of their stake, unlocking an array of new features. KLAP holders, vesters, and KLAP-KLAY LPs who lock their tokens in this manner will receive veNFTs. These confer various rights including:
- Voting rights to determine KLAP emissions for lend/borrow pools of each token on KLAP
- Yield Boosters on liquidity mining rewards for both lending/borrowing as well as Pool 2
veKLAP holders can also vote on wider protocol-level decisions such as the usage of Treasury funds, as well as proposals to incorporate additional utilities. KLAP token holders can also provide liquidity against various KLAP pairings on ClaimSwap.
KLAP is the first product developed by Krew, who raised $4M in a pre-seed round in June which was led by Quantstamp and Ascentive Assets. Other investors include ROK Capital, Manifold, Krust, and Novis.
Richard Ma, CEO of Quantstamp, said: “We see Klap in a great spot to leverage Klaytn’s technical architecture enabling high TPS, fast finality, and cheap transactions. We are confident in Klap’s compelling protocol design features and veteran builders to serve the nascent Klaytn DeFi ecosystem and scale it for retail adoption.”
About Klaytn Lending Application
KLAP (Klaytn Lending Application) is a decentralized non-custodial liquidity market protocol where users can participate as depositors or borrowers. Depositors provide liquidity to the market to earn a passive income, while borrowers are able to borrow in an over-collateralized (perpetually) or under-collateralized (one-block liquidity) fashion.
Learn more: https://www.klap.finance/
Tezro Announces New Initiative Which Allows Users To Exchange USTC For TezroST
As per the latest announcement by Tezro, USTC token holders will be given the chance to exchange USTC for TezroST, which is the Tezro shopping token backed by Tether. The rate shall be $1 per USTC token and the new feature will also only be available via the official app.
A new and innovative feature
All the users need to do to use this new feature is download the app and look for the TezroST icon. If they possess any USTC tokens, they can easily exchange them for TezroST, a shopping token that can be utilized to pay for all sorts of goods and services in online stores through the Tezro Swift API.
Tezro supporters are being encouraged to try it out as soon as possible as this is one feature that they certainly would not want to miss out on, especially given the fact that almost nobody wants to hold on to USTC tokens anymore.
Tezro could be the answer
TerraClassicUSD (USTC), formerly TerraUSD, is an open-source blockchain that hosts a wide range of dApps (dApps) as well as developer tools inside its ecosystem. Originally formed as an algorithmic stablecoin, it is a cryptocurrency which uses algorithms to maintain a 1:1 peg with the inventory currency it backs.
TerraUSD was launched in September 2020 as part of a partnership with Bittrex Global. It was co-founded by Do Kwon, the creator of Terraform Labs which is the software development company responsible for introducing the TerraLuna and TerraUSD tokens. However, after the recent Terra disaster, many have lost faith in the project and most have already sold off their coins. Additionally, as TerraClassicUSD is not a stablecoin anymore, Tezro’s new initiative could indeed be a viable method of getting rid of the USTC tokens and exchanging them for TezroST, which most would agree is a more sensible choice at this point.
Tezro is a comprehensive platform and application that also serves as a cryptocurrency wallet. The app provides safe chat software with plenty of innovative features and services. In addition, Tezro AI enables consumers to invest effectively in a variety of currencies on Uniswap2 and Uniswap3.
Furthermore, Tezro allows its customers to send and receive messages as well as make crypto and fiat transactions from any location. It is also the very first program that combines virtual financial transactions with digital communications in real time. Lastly, Tezro is backed by third generation blockchain technology which enables the platform to offer a variety of services and features to users. The app is also compatible with all PC, iOS and Android devices.
TRON DAO Reserve Addresses Questions Regarding USDD Stablecoin
Geneva, Switzerland / July 21 / – The TRON DAO Reserve (TDR) has officially answered some frequently asked questions from the community about USDD, the decentralized over-collateralized stablecoin on TRON.
The USDD stablecoin is currently the most over-collateralized stablecoin across the entire cryptocurrency market. The core mission of USDD is to provide the blockchain world with a decentralized cryptocurrency of stable value. USDD represents true decentralization across the stablecoin market. Other stablecoins such as USDC or USDT are pegged to a central platform’s U.S. dollar (USD) reserves. By nature, the fundamentals of USDC and USDT are considered centralized stablecoins with strict supervision by regulators worldwide.
Current market conditions have brought fears of assets being subject to liquidation and freezings without the consent of the holders. USDD overcomes these fears from multiple different angles. Whitelisted institutions of the TRON DAO Reserve (TDR) are authorized to mint USDD. The value of USDD is supported by the over-collateralization of highly liquid crypto assets consisting of, but not limited to, BTC, USDT, USDC, and TRX. This allows USDD to be free from centralized intermediaries so users do not have to worry about their assets being frozen with or without notice. This enables holders of USDD to truly have full ownership of their stablecoin.
Stability is an important aspect of a successful stablecoin. Centralized stablecoins such as USDC and USDT are bound by regulators to maintain a 1:1 reserve ratio to the USD. If the centralized authorities of these stablecoins are unable to meet their reserve requirements, this can cause the centralized stablecoins to lose its 1:1 USD peg. USDD is immune to such issues due to its decentralized nature. USDD is not designed to strictly peg to the USD; instead, it floats up and down around it. The price stability of USDD is maintained through monetary policies adopted by the TDR based on market conditions.
Under volatile market conditions, USDD is not considered depegged when it is within 3% up or down from the USD peg. This allows for further flexibility for the TDR to make the necessary monetary policy adjustments if needed. With recent volatility in the markets, USDD has adjusted properly through TDR’s monetary policy tools which have strongly held up against recent concerns. This methodology is known as a Linked Exchange Rate System and has successfully allowed USDD to properly scale.
The recent controversy surrounding stablecoins arose due to the LUNA and UST crash. USDD fluctuated below its USD peg partly due to market misconceptions tied to the LUNA/UST fiasco. LUNA and UST do not follow the TDR policies that USDD is subject to; instead, LUNA and UST function strictly off an algorithmic arbitrage system of burning and minting. This means that UST did not have to rely on any reserve system to support the 1:1 USD peg. This whole process relied heavily on LUNA’s liquidity, when market conditions worsened, causing UST to lose its peg, it resulted in a major shock driving prices down for LUNA and in turn UST because there was no reserve system backing it. This is what ultimately caused the collapse of the LUNA and UST prices. On the other hand, USDD is completely supported by a reserve system filled with liquid assets run by the TDR as mentioned earlier. The details of the TDR assets are published in real-time on tdr.org.
The TDR adopts four monetary policy instruments to ensure the stability of USDD, creating further growth in the TRON ecosystem. The four policy instruments are setting benchmark interest rates, open market operations (OMO), window guidance, and the minting-burning mechanism of TRX and USDD. The TDR will also explore more monetary policy tools to foster further stability and growth of the USDD ecosystem. The end goal of TDR’s monetary policy adjustments is to maintain a stable price of USDD while further empowering it to be the most reliable and decentralized stablecoin on the market.
For more information about USDD, check out our recent blog post, which goes into details on various community questions and concerns.
USDD is a decentralized over-collateralized stablecoin launched collaboratively by the TRON DAO Reserve and top-tier mainstream blockchain institutions. The USDD protocol runs on the TRON network, is connected to Ethereum and BNB Chain through the BTTC cross-chain protocol, and will be accessible across more blockchains in the future. USDD is pegged to the US Dollar through TRX and maintains its price stability under the guidance of the TRON DAO Reserve. It enables access to a stable and decentralized digital dollar system that in turn assures financial liberty for everyone.
Hypercube Launches with “Chrysanthemum: The Heart-Centered Drop”
The NFT minting platform Hypercube is pleased to announce its public launch with Chrysanthemum: The Heart-Centered Drop. Founded by tech entrepreneur Ryan Junee and a team of generative art enthusiasts in 2021, Hypercube is a minting platform for complex, on-chain art projects. Committed to innovation and inclusivity on the blockchain, the platform is excited to partner with artists venturing into the digital space from diverse backgrounds. Beyond the traditional “cube” of galleries and institutions, Hypercube bridges the gap between fine art and the rapidly evolving landscape of technologically-engaged art. The artists on Hypercube are pushing the boundaries of technology and pioneering a new genre of art, powered by the advanced infrastructure of the platform and its expert team.
For its inaugural drop, Hypercube collaborated with Luminance and TRIPP to turn generative art into regenerative sustainability. Chrysanthemum: The Heart-Centered Drop is the first collection of generative, biometric, non-fungible tokens (NFTs) which incorporate biofeedback to guide breathing and support wellness. Created in partnership with TRIPP, the fastest-growing XR wellness platform, and the design studio, Luminance, the collection of biometric NFTs will be minted on Hypercube’s platform. The joint launch offers an invitation for collectors to merge the body, mind, heart, and breath together in harmony. The project is on a mission to drive global connection through shared intention, attention, and breath, with 10% of the proceeds going toward regenerative farming projects.
Chrysanthemum: The Heart-Centered Drop is designed by Daniel Friedman of Luminance with sound design by David Starfire of TRIPP. An edition of 1,440 NFTs (representing the total number of minutes we have in a day and an implicit reminder to be as present, healthy, and inspired as possible during that time) are available for minting at a price of 0.25 ETH. The collection leverages science and research-backed biofeedback to support interactive, meditative experiences. This genesis collection allows collectors to access an immersive web & IRL audio-visual biofeedback journey guided by their own hearts. After pairing with a Bluetooth heart rate monitor, the colors and patterns of the Chrysanthemum NFT respond in real time. For further immersion, collectors can enable audio feedback to listen to sound frequencies generated by their own heartbeats, with a sound and music library provided by GRAMMY-nominated artists, for a unique experience with every session.
To learn more about Hypercube, and to mint your own Chrysanthemum, visit https://hypercube.art/chrysanthemum
Founded in 2021 by technology entrepreneur and investor Ryan Junee, artist Alina Karo, blockchain developer Fil Makarov, and generative art enthusiast Sergey Shendrik, Hypercube is a decentralized NFT platform that connects high-quality contemporary artists with blockchain technology to launch blockchain-native art. To learn more, and to find ways to partner, visit https://hypercube.art/launchpad.
Hxro Network Launches Derivatives Alpha on Solana Mainnet
Hxro Network (“Hxro”), a fully composable, on-chain derivatives primitive that provides core exchange, risk and settlement infrastructure, today announced it has launched the alpha version of its derivatives marketplace onto the Solana mainnet.
Hxro Network provides key primitive layer infrastructure for the exchange, risk, margin and settlement of derivatives including perps, futures and options. It is built on the Solana blockchain. The network boasts a marquee list of partners, many of whom have been key builders and active participants including principal trading firms SIG DT (a Susquehanna International Group Company), Jump Crypto, Alameda Research, Chicago Trading Company, and Pattern Research as well as venture participation from Blockchain Capital, Solana Ventures, Coinbase Ventures, Commonwealth Asset Management, CoinFund, Genesis, LedgerPrime, Mantis and Magnus Capital. Notable macro hedge fund managers Alan Howard and Louis Bacon are also part of the network’s ecosystem.
At launch, the alpha sandbox will feature a BTC/USDC perpetual future and 8 consecutive expiring futures markets including 2 weeklies, 2 monthlies, and 4 quarterlies along with associated exchange-supported calendar spread markets for each tenor. During the alpha sandbox, contributing developers will also be completing the integration of Hxro’s staking and rewards contracts. This alpha period will be utilized to ensure that all critical staking and rewards functionalities are deployed efficiently during mainnet integration.
Dan Gunsberg, Co-Founder of Hxro Network commented on today’s news: “Today’s launch represents a significant milestone for the network and is very much just the beginning. With the launch to mainnet, Hxro Network will deliver decentralized derivatives products and infrastructure to traders, user facing applications, market makers and other market participants in a way that they are familiar with from a traditional market perspective but with the benefits of DeFi. With recent events in the CeFi space, the market has exposed a need for robust, transparent and decentralized market infrastructure. This is the time to start providing alternative solutions and giving market participants a choice. The network and its community look forward to leading this effort.”
During the public testing period, any Solana wallet holder will be eligible to participate in the alpha sandbox. The sandbox will have a reference UI as well as a python API to support automated trading and dApp integration. Rust and typescript API’s are available as well.
At launch, network contributors have chosen to take a conservative approach and use a sandbox test token with the symbol $UXDC. This token does not hold any monetary value and will be used in place of USDC as the network moves through its alpha phase. Once network contributors feel all components of the network are hardened, the network will enter its beta phase and offer USDC collateralized markets.
About Hxro Network
Hxro Network is a fully composable, on-chain derivatives primitive that provides core exchange, risk and settlement infrastructure built on the Solana blockchain. Through a series of native protocols, Hxro Network provides the framework and infrastructure for a robust, fully-functional decentralized derivatives primitive.
NEXT SHIB: Next generation MEME token about to go public!
DeFi’s newest cutest meme token announces the launch of its public sale. The mascot of the new, ultra-fast ultra-cheap NEXT Smart Chain has arrived.
Deflationary on every transaction (5%) and with no other tax, no team tokens, and starting with a very low market cap, this meme token is lifting off to visit its Nextronaught NFT siblings in orbit (#Nextronaughts are coming down to play in the #Nextverse very soon!).
In recent years meme tokens have emerged to become more popular than many mainstream cryptocurrencies, thanks to their unique mass appeal. NEXT SHIB is the newest entrant into the meme coin space so far ruled by DOGE and Shiba Inu. The tokenomics and the underlying operations of NEXT SHIB, however, differ vastly from the rest of the meme coins, powering NEXT SHIB with rocket fuel. The token follows a deflationary model where the total supply of 100 billion tokens deflates every time a transfer is made, but with no other reservation of tokens for any purpose other than to permanently lock its liquidity (yes permanently!). It also has a low initial market cap of less than $500K.
This ensures a steady growth in value and wealth accumulation possibility for early adopters. The private presale was a success and the public sale opened today, until the end of January. NEXT SHIB token is available on the Ethereum Network (ETH), Binance Smart Chain (BSC), and on its own native NEXT Smart Chain (NSC).
The blockchain built for scalability
The NEXT Smart Chain is a third-generation blockchain network that has clear advantages over Ethereum and Binance Smart Chain. With a clever combination of Directed Acyclic Graphs (DAG) and Byzantine Fault Tolerance (BFT) technologies, the network manages to achieve a speed of 300000 transactions per second (yes 300K tps) and a persistently low transaction cost of circa $0.0001 per transaction – the lowest fees in the current market.
NEXT Smart Chain is fully compatible with the Ethereum Virtual Machine (EVM), so all ERC-20 tokens and decentralized applications can function on the NEXT Smart Chain (yes – all DAPPS will just work). Just like NEXT SHIB, the NEXT Smart Chain (ticker: NEXT) has a very low market cap of less than $1 million and a fixed token supply of 30.3 million NEXT, while its competitors reach over $1 billion in market cap.
The unmatched scalability and transaction speeds offered on this blockchain make it the ideal network to deploy the next generation of NFT and NEXT Metaverse projects. With NFT gaming and trading within the Metaverse becoming the highly anticipated products of Web3, projects using NEXT Smart Chain will be poised to uniquely benefit from its robust underlying architecture to provide a healthy user experience to early adopters. The smart chain will launch with over 200 independent validators, making it a very decentralized and secure blockchain.
With the launch of the NEXT SHIB once the public sale completes, NEXT Smart Chain will transform the market as a center of excellence for metaverse innovations & crypto projects.
The future is bright – come and see what’s NEXT !!
Osmosis Closes $21M Token Sale to Make Interchain DeFi Go Superfluid
Osmosis is a first-of-its-kind automated market maker (AMM) that marks a foundational shift in how liquidity providers can benefit from Interchain DeFi. The Osmosis Foundation today announced the close of its first fundraise – a token sale from the foundation treasury – led by Paradigm. Also participating are Robot Ventures, Nascent, Ethereal, Figment and Do Kwon. The funding will help the Osmosis Foundation grow the Osmosis protocol. Osmosis allows users to compound yield by leveraging Osmosis’ novel innovation called Superfluid Staking; eliminates miner extractable value; and provides greater latitude for developers to innovate within DeFi given the flexibility of the Cosmos SDK.
“Osmosis is our first AMM investment outside of the Ethereum ecosystem. The Osmosis contributors are a world-class team of engineers, product innovators, and operators bringing the right product to market at exactly the right time,” said Charlie Noyes, investment partner at Paradigm. “The launch of IBC, Cosmos’ cross-chain interoperability protocol, kicked off a Cambrian explosion of developer activity and experimentation. Osmosis is the natural center of gravity for liquidity in Cosmos’ emerging DeFi ecosystem.”
Osmosis ranks #1 among Cosmos Inter-Blockchain Communication (IBC)-enabled chains by number of IBC transactions, comprising over 42% of all IBC transactions made across the entire ecosystem. The DEX itself has seen a near-exponential growth rate in total value locked on-chain, exploding to an unprecedented $500M TVL within 4 months of being launched.
Osmosis is launching innovative AMM features which are uniquely possible given Cosmos’ focus on sovereignty and permissionless interoperability. Osmosis runs as an application-specific chain (“appchain”) which provides the flexibility for defi innovations which are not possible on a shared virtual machine.
One unique feature is Superfluid Staking, which eliminates the tradeoff between token holder yield and network security. Token holders typically must choose between staking yield or liquidity yield, which presents a tradeoff for proof of stake protocols whose security relies on tokens being staked. With Superfluid Staking, LPs can stake their LP tokens on Osmosis, thereby earning pro rata staking rewards in OSMO such that token holders can compound staking and liquidity yields – while the network suffers no reduction in security.
Osmosis also will incorporate MEV-resistance by implementing instant block confirmations, making the DEX a fairer platform for token holders. Osmosis users will be largely protected from frontrunning risks that plague similar AMMs running on Ethereum and other L1s, whose transaction processing permits miners or validators to cherry pick transactions.
“Osmosis started as a proof-of-concept collaboration between many independent contributors to the Cosmos ecosystem,” said Josh Lee, Director of Osmosis Foundation. “We got our momentum by winning the 2020 Cosmos hackathon, HackAtom V. Since then, we’ve taken it from an idea to a $2.2B market. We are excited about the future – both providing liquidity to the rapidly expanding Cosmos ecosystem, as well as contributing novel DeFi innovations to the overall blockchain community.”
Mars4: Highly Liquid MARS4 Dollars and First-of-a-kind Revenue Generating Mars Terrain NFTs
The red planet is a mystery to man and his obsession with it has created many legends and myths over the centuries. As the US’s Perseverance rover lands on Mars and drills its first Martian rock core for NASA, interest in Mars is at an all-time high, and pioneers are dying to stake their claim on the Red Planet’s soils.
A meaningful approach for the visionary is to speculate on Mars’s value. You can do this by participating in the Mars4 non-fungible token (NFT) and land plot sale running on Ethereum.
What is Mars4?
Mars4 is a Metaverse ecosystem where you can explore a geographically exact virtual Mars, own and customize your land with MARS4 dollars and even reap the rewards of the world’s first revenue-generating NFT. The Attractive tokenomics of Mars4 leverages NFT Mars Land, Gamification and Token Redistribution.
Mars4 is a unique metaverse. The Mars4 project’s development team has modeled their detailed 3D map of Mars’ terrain based on the latest data from Mars and other space agencies. Think of it as Mars’ equivalent of the 2001 Google Earth 3D map.
How does Mars4 work?
Mars4 leverages token yield farming and gamification elements to create an attractive decentralized finance investment option. Additionally, Mars4 helps space exploration enthusiasts explore the red planet via its virtual platform.
Inside its metaverse are diverse adventures and fun activities that will keep its community-engaged as they generate passive income from its NFTs. The Mars 4 project has three fundamental elements.
- Its interactive Mars terrain 3D world is subdivided into plots. Each Mars4 NFT is a digital representation of these plots.
- A utility and governance token system that supports user incentives, transactions, trading, gaming and NFT minting processes.
- The Mars4 liquidity mining feature for NFT holders.
Mars4 virtual world
Its 3D virtual world is Mars4’s gamification aspect. Through it, you can explore Mars and buy land as NFTs. These NFTs will earn yield via the project’s liquidity mining feature. Mars4 has 99,888 unique and rare Real Estate NFTs that symbolize Mars’ rovers landing sites and its most popular geographical features.
Each land parcel measures 559 square miles. On purchase, terraform your land to increase its value. You can purchase additional value-enhancing avatars, certificates, and logos from its in-game assets feature.
Mars4 utility and governance system
You can buy Mars4 land parcels with MARS4 tokens at its public sale. There are 4 billion MARS4 tokens that are used to mint the platform’s 99,888 NFTs. Already more than 50% NFTs are sold.
MARS4 tokens will play a key role in the metaverse’s transaction processes. Each time users perform a transaction, the Mars4 NFT holders will earn a yield. The project’s protocols will reward NFT owners for holding their units.
Before the launch of Metaverse, epochs were introduced to redistribute passive income for Mars landlords. The scarcity model was designed to provide a yield for NFT owners as soon as possible, as there are no transactions until the game is launched. After TGE event, MARS4 dollars will be integrated and extremely high transaction volume is expected.
Each Epoch starts after a new batch of 10,000 NFTs are sold. 51% of income from the Land NFTs are redistributed to the previous NFT owners, starting in Epoch 1. As more than 50,000 NFTs were sold already, Mars4 entered the first epoch on September 24th 2021.
Moreover, the scarcity model means the price of the Mars Land NFTs increases as supply decreases, making it a win-win situation for existing land holders to attract new participants to the economy to increase the capital appreciation of their NFT land holdings and reach the next Epoch sooner.
NFT holder incentives will grow after each epoch and even more later as the metaverse’s transactions increase. Mars4 NFTs are therefore an excellent long-term investment prospect and are available on the Mars4 Ecommerce site.
Mars4 explodes on MISO Launchpad
MARS4 tokens were listed on Sushiswap’s MISO launchpad from September 15th to 24th. In the private and public auctions for MARS4 tokens the minimum raise was collected in the first 45 minutes!
In the format of batch auction, participants contribute to the pool. A set number of tokens are then divided amongst all the contributors to the Market event, weighted according to their contribution to the pool.
Two auctions were organised with a total of 40 million MARS4 tokens. Mars4 exploded on the MISO launchpad with a 13 times larger amount raised than the minimum raise.
The demand for Mars-related NFTs will rise as more exploration reveals Mars’s mastery. Mars4 NFTs are a rare combination of the NFT benefits of proof of ownership of something both scarce and beautiful, and passive income generation.
Unlike other NFT projects, Mars4 has revenue assurance from its NFT yield generating protocols. It is therefore not just an artistic and exploration medium for content creators, individuals, and businesses, but an excellent source of passive income.
Republic Capital-Advised Crypto Fund Invests in AVAX’s $230M Private Token Sale
A fund managed by an affiliate of Republic, the multi-asset investment platform, announced today an investment in AVAX’s recent $230 million private token sale, alongside lead investors Polychain and Three Arrows Capital. The investment in Avalanche’s token sale marks a major milestone for Republic Capital, the asset management arm of Republic and its R/Crypto Fund I.
Republic’s crypto advisory and development team (Republic Crypto) began their journey with Ava Labs through Avalanche founder Emin Gün Sirer, guided by the shared vision of building an alternative chain designed specifically for digitizing assets, one that would focus on speed and lower transaction costs. Over the course of two years, Republic Crypto has worked closely with the Ava Labs team making strategic introductions and advising on the tokenomics of the AVAX token, ultimately assisting with listing the token on public exchanges. The token is currently listed on over 70 exchanges and has increased from $2.79 per token to over $65 with a market cap over $13 billion.
Avalanche is considered one of the fastest smart contract platforms in the blockchain industry. Ava Labs, the team behind Avalanche, is focused on digitizing all the world’s assets. Proceeds from the private sale will be used to support the Avalanche ecosystem, which includes 300+ popular projects that already run on other blockchains such as Tether, SushiSwap, Chainlink, Circle and The Graph. Topps, an NFT-based game with partnerships with Major League Baseball and Bundesliga, is also using Avalanche.
Proceeds from this sale will also be used to support other Ava Labs Decentralized Finance projects and enterprise applications through grants, token purchases and other forms of investments. These are all opportunities for expansion that could double or triple the potential applicability of the protocol.
“Our model at Republic Crypto is to work with crypto companies from the earliest days and advise them on how to grow and scale,” said Andrew Durgee, head of Republic Crypto and member of the Crypto Fund’s investment committee. “Our work with Avalanche demonstrates the power of that strategy.” He mined his first bitcoin in 2010. Republic Capital and Republic Crypto are affiliates of Republic, the multi-asset investment platform backed by Binance and Galaxy Digital. Republic Capital, a SEC-registered investment adviser, is the adviser to the R/Crypto Fund I and is managed by Boris Revsin.
For additional information, please visit: www.republic.co/crypto
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