Category Archives: Binance Smart Chain
Japanese CAMPFIRE Ventures Into Web3 with Launch of Livefor – BSC NEWS
Tether (USDT) maintains the worlds biggest stable coin reserve, maintaining its position of being the third most valuable coin with over $66 Billion in market capitalization.
Tether (USDT) maintains the worlds biggest stablecoin reserve, maintaining its position of being the third most valuable coin according to CoinMarketCap (CMC), with over $66 Billion in market capitalization, at time of writing. Tether remains the largest stable coin despite its many controversies, which revolve around the collateral used to back USDT. Overall, Tether is number one in its class, standing out from all other stable coins; the next competing stablecoin, Circle and Coinbases USDC lags in 10th place according to CMC.
Tether is the most widely adopted coin in circulation. USDT was the first-ever stablecoin introduced to the market. It is designed to peg its issued coin 1-to-1 with the Dollar. Tether was one of the first stablecoins issued in several blockchains, available on the Tron, ETH, Omni, EOS, Algorand, Solana, and the Binance Smart Chain (BSC) networks. It has received mass adoption as the reserve currency for most traders as it doesnt fluctuate like typical crypto coins.
Tether enforces its peg through collateralizing every Tether minted; for every issued USDT, there is a reserve in the bank backing it. It was first released in 2014 under its first name, Realcoin by Bitcoin investor Brock Pierce, entrepreneur Reeve Collins, and software developer Craig Sellers. Since then, it has developed into the project we know today.
For many traders, stablecoins like USDT serve as a hedge during market corrections. It serves as a lifeboat type that allows investors to rotate into a Fiat pegged coin without cashing out into real-world Fiat. This strategy has proven useful, especially since Fiat still dominates other currency types like crypto in most countries economies. The stablecoin utility is still very much tied to its stability as opposed to traditional crypto assets. Overall, Tether allows users to exchange in stablecoins seamlessly, with no worries about fiat-crypto onramps.
In the original Tether Whitepaper abstract, the developers explained the coins accountability measure: To maintain accountability and to ensure stability in exchange price, we propose a method to maintain a 1-to-1 reserve ratio between a cryptocurrency token, called tethers, and its associated realworld asset, fiat currency. This method uses the Bitcoin blockchain, Proof of Reserves, and other audit methods to prove that issued tokens are fully backed and reserved at all times.
Although the first blockchain used was the Bitcoin Omni blockchain, Tether has been deployed on other chains, with Ethereum becoming its most extensive network and largest by volume. The growth can be attributed to the Decentralized Finance (DeFi) boom experienced on the ETH network. Originally, USDT was pegged 1:1 to USD but later included collateral as other real-world cash equivalents, assets, and receivable loans.
Before its launch in July 2014 and its first use on cryptocurrency exchange Bitfinex in February of 2015, traders did not have a means or a hedge to protect their crypto assets against the volatility experienced in traditional crypto assets. The introduction of stablecoins increased the adoption of cryptocurrencies as traders now have the confidence of hedging and realizing profits to a pegged stablecoin. By providing stability, traders can hold an asset equivalent to a real-world fiat currency, allowing seamless crypto trading.
Tethers most prominent use cases are its reserve tendencies, cross-chain interoperability, with a growing list of different blockchain types accepting and integrating the stablecoins. In the case of a sharp fall of the market, Tether and other stablecoins act as a safety net guiding against loss.
Tethers weakness remains its ability to constantly find itself in various controversies with each new phase of crypto market growth, one that continually creates doubt in users' minds about its alleged pegged real-world fiat holdings.
For example, in 2018, $100 million USDT was stolen from Bitfinex, the parent company and exchange of the stablecoin and the largest holder of the coin, and was sent to an unidentified address.
In April 2019, New York Attorney General Letitia James accused the company of hiding an $850 million loss of a co-mingled client and corporate funds from investors. Court filings would later find out that these funds were given to a Panamanian entity called Crypto Capital Corp. without a formal contract or agreement to handle withdrawal requests. Bitfinex allegedly took a minimum of $700 million from Tethers treasury reserves to cover the loss once the money went missing.
And in 2021, the rumors and speculations about its legitimacy and reserve arent going away. The community is afraid of a bubble getting burst for the most significant stablecoin in todays market. Tether has seen its market share diminished by USDC as many investors see USDT as increasingly a lynchpin in a potential market crash scenario. Without full regulation or transparency of the coins backing, investors have slowly become antagonistic to the once all-powerful stablecoin.
Tether as a stablecoin in the market still retains its relevance despite the many controversies and concerns over legitimacy. However, the team still needs to raise the confidence level of traders and investors, who often, over time, have called for more transparency and external audits of the firm.
Overall, Tether plays an integral role in the cryptocurrency space, receiving mass adoption for nearly all crypto users. The increasingly large amount of decentralized application is only perpetuating USDTs use case as we see an influx of tether being minted daily. As the bull market continues, we can expect to see the trend of more users onboarding using this stablecoin, among others.
Dont forget to download the BSC News mobile application on iOS and Android to keep up with all the latest news for Binance Smart Chain and crypto! Check out the DeFi Direct Linktree for all the access links!
For those looking for tools and strategies regarding safety and crypto education, be sure to check out the Tutorials, Cryptonomics Explainers, and Trading Tool Kits from BSC News.
Read more here:
Japanese CAMPFIRE Ventures Into Web3 with Launch of Livefor - BSC NEWS
SBF’s Father Played a Crucial Role in FTX’s Saga: Report – BSC NEWS
Tether (USDT) maintains the worlds biggest stable coin reserve, maintaining its position of being the third most valuable coin with over $66 Billion in market capitalization.
Tether (USDT) maintains the worlds biggest stablecoin reserve, maintaining its position of being the third most valuable coin according to CoinMarketCap (CMC), with over $66 Billion in market capitalization, at time of writing. Tether remains the largest stable coin despite its many controversies, which revolve around the collateral used to back USDT. Overall, Tether is number one in its class, standing out from all other stable coins; the next competing stablecoin, Circle and Coinbases USDC lags in 10th place according to CMC.
Tether is the most widely adopted coin in circulation. USDT was the first-ever stablecoin introduced to the market. It is designed to peg its issued coin 1-to-1 with the Dollar. Tether was one of the first stablecoins issued in several blockchains, available on the Tron, ETH, Omni, EOS, Algorand, Solana, and the Binance Smart Chain (BSC) networks. It has received mass adoption as the reserve currency for most traders as it doesnt fluctuate like typical crypto coins.
Tether enforces its peg through collateralizing every Tether minted; for every issued USDT, there is a reserve in the bank backing it. It was first released in 2014 under its first name, Realcoin by Bitcoin investor Brock Pierce, entrepreneur Reeve Collins, and software developer Craig Sellers. Since then, it has developed into the project we know today.
For many traders, stablecoins like USDT serve as a hedge during market corrections. It serves as a lifeboat type that allows investors to rotate into a Fiat pegged coin without cashing out into real-world Fiat. This strategy has proven useful, especially since Fiat still dominates other currency types like crypto in most countries economies. The stablecoin utility is still very much tied to its stability as opposed to traditional crypto assets. Overall, Tether allows users to exchange in stablecoins seamlessly, with no worries about fiat-crypto onramps.
In the original Tether Whitepaper abstract, the developers explained the coins accountability measure: To maintain accountability and to ensure stability in exchange price, we propose a method to maintain a 1-to-1 reserve ratio between a cryptocurrency token, called tethers, and its associated realworld asset, fiat currency. This method uses the Bitcoin blockchain, Proof of Reserves, and other audit methods to prove that issued tokens are fully backed and reserved at all times.
Although the first blockchain used was the Bitcoin Omni blockchain, Tether has been deployed on other chains, with Ethereum becoming its most extensive network and largest by volume. The growth can be attributed to the Decentralized Finance (DeFi) boom experienced on the ETH network. Originally, USDT was pegged 1:1 to USD but later included collateral as other real-world cash equivalents, assets, and receivable loans.
Before its launch in July 2014 and its first use on cryptocurrency exchange Bitfinex in February of 2015, traders did not have a means or a hedge to protect their crypto assets against the volatility experienced in traditional crypto assets. The introduction of stablecoins increased the adoption of cryptocurrencies as traders now have the confidence of hedging and realizing profits to a pegged stablecoin. By providing stability, traders can hold an asset equivalent to a real-world fiat currency, allowing seamless crypto trading.
Tethers most prominent use cases are its reserve tendencies, cross-chain interoperability, with a growing list of different blockchain types accepting and integrating the stablecoins. In the case of a sharp fall of the market, Tether and other stablecoins act as a safety net guiding against loss.
Tethers weakness remains its ability to constantly find itself in various controversies with each new phase of crypto market growth, one that continually creates doubt in users' minds about its alleged pegged real-world fiat holdings.
For example, in 2018, $100 million USDT was stolen from Bitfinex, the parent company and exchange of the stablecoin and the largest holder of the coin, and was sent to an unidentified address.
In April 2019, New York Attorney General Letitia James accused the company of hiding an $850 million loss of a co-mingled client and corporate funds from investors. Court filings would later find out that these funds were given to a Panamanian entity called Crypto Capital Corp. without a formal contract or agreement to handle withdrawal requests. Bitfinex allegedly took a minimum of $700 million from Tethers treasury reserves to cover the loss once the money went missing.
And in 2021, the rumors and speculations about its legitimacy and reserve arent going away. The community is afraid of a bubble getting burst for the most significant stablecoin in todays market. Tether has seen its market share diminished by USDC as many investors see USDT as increasingly a lynchpin in a potential market crash scenario. Without full regulation or transparency of the coins backing, investors have slowly become antagonistic to the once all-powerful stablecoin.
Tether as a stablecoin in the market still retains its relevance despite the many controversies and concerns over legitimacy. However, the team still needs to raise the confidence level of traders and investors, who often, over time, have called for more transparency and external audits of the firm.
Overall, Tether plays an integral role in the cryptocurrency space, receiving mass adoption for nearly all crypto users. The increasingly large amount of decentralized application is only perpetuating USDTs use case as we see an influx of tether being minted daily. As the bull market continues, we can expect to see the trend of more users onboarding using this stablecoin, among others.
Dont forget to download the BSC News mobile application on iOS and Android to keep up with all the latest news for Binance Smart Chain and crypto! Check out the DeFi Direct Linktree for all the access links!
For those looking for tools and strategies regarding safety and crypto education, be sure to check out the Tutorials, Cryptonomics Explainers, and Trading Tool Kits from BSC News.
Here is the original post:
SBF's Father Played a Crucial Role in FTX's Saga: Report - BSC NEWS
OneCoin Co-Founder Karl Greenwood Sentenced to 20 Years in … – BSC NEWS
Tether (USDT) maintains the worlds biggest stable coin reserve, maintaining its position of being the third most valuable coin with over $66 Billion in market capitalization.
Tether (USDT) maintains the worlds biggest stablecoin reserve, maintaining its position of being the third most valuable coin according to CoinMarketCap (CMC), with over $66 Billion in market capitalization, at time of writing. Tether remains the largest stable coin despite its many controversies, which revolve around the collateral used to back USDT. Overall, Tether is number one in its class, standing out from all other stable coins; the next competing stablecoin, Circle and Coinbases USDC lags in 10th place according to CMC.
Tether is the most widely adopted coin in circulation. USDT was the first-ever stablecoin introduced to the market. It is designed to peg its issued coin 1-to-1 with the Dollar. Tether was one of the first stablecoins issued in several blockchains, available on the Tron, ETH, Omni, EOS, Algorand, Solana, and the Binance Smart Chain (BSC) networks. It has received mass adoption as the reserve currency for most traders as it doesnt fluctuate like typical crypto coins.
Tether enforces its peg through collateralizing every Tether minted; for every issued USDT, there is a reserve in the bank backing it. It was first released in 2014 under its first name, Realcoin by Bitcoin investor Brock Pierce, entrepreneur Reeve Collins, and software developer Craig Sellers. Since then, it has developed into the project we know today.
For many traders, stablecoins like USDT serve as a hedge during market corrections. It serves as a lifeboat type that allows investors to rotate into a Fiat pegged coin without cashing out into real-world Fiat. This strategy has proven useful, especially since Fiat still dominates other currency types like crypto in most countries economies. The stablecoin utility is still very much tied to its stability as opposed to traditional crypto assets. Overall, Tether allows users to exchange in stablecoins seamlessly, with no worries about fiat-crypto onramps.
In the original Tether Whitepaper abstract, the developers explained the coins accountability measure: To maintain accountability and to ensure stability in exchange price, we propose a method to maintain a 1-to-1 reserve ratio between a cryptocurrency token, called tethers, and its associated realworld asset, fiat currency. This method uses the Bitcoin blockchain, Proof of Reserves, and other audit methods to prove that issued tokens are fully backed and reserved at all times.
Although the first blockchain used was the Bitcoin Omni blockchain, Tether has been deployed on other chains, with Ethereum becoming its most extensive network and largest by volume. The growth can be attributed to the Decentralized Finance (DeFi) boom experienced on the ETH network. Originally, USDT was pegged 1:1 to USD but later included collateral as other real-world cash equivalents, assets, and receivable loans.
Before its launch in July 2014 and its first use on cryptocurrency exchange Bitfinex in February of 2015, traders did not have a means or a hedge to protect their crypto assets against the volatility experienced in traditional crypto assets. The introduction of stablecoins increased the adoption of cryptocurrencies as traders now have the confidence of hedging and realizing profits to a pegged stablecoin. By providing stability, traders can hold an asset equivalent to a real-world fiat currency, allowing seamless crypto trading.
Tethers most prominent use cases are its reserve tendencies, cross-chain interoperability, with a growing list of different blockchain types accepting and integrating the stablecoins. In the case of a sharp fall of the market, Tether and other stablecoins act as a safety net guiding against loss.
Tethers weakness remains its ability to constantly find itself in various controversies with each new phase of crypto market growth, one that continually creates doubt in users' minds about its alleged pegged real-world fiat holdings.
For example, in 2018, $100 million USDT was stolen from Bitfinex, the parent company and exchange of the stablecoin and the largest holder of the coin, and was sent to an unidentified address.
In April 2019, New York Attorney General Letitia James accused the company of hiding an $850 million loss of a co-mingled client and corporate funds from investors. Court filings would later find out that these funds were given to a Panamanian entity called Crypto Capital Corp. without a formal contract or agreement to handle withdrawal requests. Bitfinex allegedly took a minimum of $700 million from Tethers treasury reserves to cover the loss once the money went missing.
And in 2021, the rumors and speculations about its legitimacy and reserve arent going away. The community is afraid of a bubble getting burst for the most significant stablecoin in todays market. Tether has seen its market share diminished by USDC as many investors see USDT as increasingly a lynchpin in a potential market crash scenario. Without full regulation or transparency of the coins backing, investors have slowly become antagonistic to the once all-powerful stablecoin.
Tether as a stablecoin in the market still retains its relevance despite the many controversies and concerns over legitimacy. However, the team still needs to raise the confidence level of traders and investors, who often, over time, have called for more transparency and external audits of the firm.
Overall, Tether plays an integral role in the cryptocurrency space, receiving mass adoption for nearly all crypto users. The increasingly large amount of decentralized application is only perpetuating USDTs use case as we see an influx of tether being minted daily. As the bull market continues, we can expect to see the trend of more users onboarding using this stablecoin, among others.
Dont forget to download the BSC News mobile application on iOS and Android to keep up with all the latest news for Binance Smart Chain and crypto! Check out the DeFi Direct Linktree for all the access links!
For those looking for tools and strategies regarding safety and crypto education, be sure to check out the Tutorials, Cryptonomics Explainers, and Trading Tool Kits from BSC News.
Go here to read the rest:
OneCoin Co-Founder Karl Greenwood Sentenced to 20 Years in ... - BSC NEWS
Introduction to TLifeCoin: Redefining Finance in a Digital Era – webindia123
ATK
New Delhi [India], September 2: TLifeCoin operates on the Binance Smart Chain (BSC), ensuring secure and decentralized transactions. With a focus on financial inclusivity, TLifeCoin provides users with a versatile digital asset for seamless transactions, borderless payments, and participation in a thriving ecosystem.
Roadmap to Success: TLifeCoin's Vision and Achievements
TLifeCoin's roadmap outlines a transformative journey:
1. Blockchain Advancements: TLifeCoin is dedicated to enhancing its presence on the Binance Smart Chain (BSC) for even faster, secure, and transparent transactions.
2. Tallwin Exchange Launch: Our efficient trading platform on BSC is set to launch, providing users a robust marketplace for digital assets.
3. Tallwin Metaverse Integration: TLifeCoin is stepping into the virtual universe on BSC, offering immersive experiences within a decentralized metaverse.
4. NFT Marketplace Debut: We're introducing a vibrant NFT marketplace on BSC, enabling users to create, buy, and trade unique digital assets.
5. Gaming Zone Excitement: Engage in innovative gaming experiences on BSC fueled by TLifeCoin's integration.
6. Digital Payment Revolution: TLifeCoin's digital payment solutions on BSC are bridging convenience and innovation.
Listing Milestones: TLifeCoin on Coinsbit and Azbit
TLifeCoin's journey is marked by significant milestones:
Coinsbit Listing: TLifeCoin was listed on Coinsbit on August 9, 2023. Deposits, trading, and withdrawals are available for the TLIFE/USDT trading pair.
Azbit Listing: TLifeCoin is also listed on Azbit Exchange, extending its reach and providing users with new avenues for participation.
Security Validation: Cyberscope & Hacken Audit Achievement
TLifeCoin's commitment to security is validated by its recent audit by Cyberscope and hacken. These audit further solidifies our dedication to providing a safe and secure environment for users' assets.
Tokenomics: A Sustainable Ecosystem
TLifeCoin's tokenomics ensure a balanced and sustainable ecosystem on the Binance Smart Chain (BSC):
- Total Supply: 21,000,000 TLIFE
- Staking Rewards: 60%
- Team: 10%
- Marketing & Development: 10%
- Treasury: 10%
- For Staking: 10%
A Visionary Future on Binance Smart Chain (BSC): TLifeCoin's Commitment
With its visionary roadmap, impressive listing achievements, robust tokenomics, and security validation through the Cyberscope audit, TLifeCoin is poised to redefine the future of finance on the Binance Smart Chain (BSC).
For more information about TLifeCoin, visit and explore our social channels:
Twitter: @TLifeCoin
Telegram: @tlife_coin
Medium: @tlifecoin
TLifeCoin is a secure and transparent cryptocurrency project focused on revolutionizing the digital finance landscape on the Binance Smart Chain (BSC). With innovative solutions, a commitment to empowerment, and a robust ecosystem on BSC, TLifeCoin aims to reshape the future of finance for individuals worldwide.
(Disclaimer: The above press release has been provided by ATK. ANI will not be responsible in any way for the content of the same)
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Introduction to TLifeCoin: Redefining Finance in a Digital Era - webindia123
CyberConnect Rejects Proposal CP-1 After CYBER Coin Dropped … – Business Blockchain HQ
CyberConnect, a blockchain project focused ondecentralized social protocol championing identity sovereignty for mass adoption and network effects, announced the rejection of its much-anticipated snapshot proposal CP-1. The official Twitter account of CyberConnect @CyberConnectHQ stated,
There was a mistake in the snapshot proposal CP-1 and so it was rejected. The intended usage of Community Treasury for providing liquidity was 1,088,000 CYBER which was unlocked already.
What The Proposal CP-1 Says
The primary objective of proposal CP-1 was to enhance the liquidity of the CYBER token across Ethereum (ETH), Binance Smart Chain (BSC), and Optimism networks. It states:
To optimize CYBER liquidity across ETH, BSC, Optimism networks, we propose a series of active balancing strategies for CYBER token on these networks.
The proposal outlined a series of active balancing strategies, including:
Deployment of Bridges: The plan was to deploy CYBER-ETH, CYBER-BSC, and CYBER-OP bridges, powered by LayerZeros ProxyOFT. This would have allowed users to bridge CYBER tokens from any chain to another via Stargate. LayerZero Documentation
Utilization of Community Treasury: The CyberConnect foundation intended to use 1,088,000 unlocked CYBER tokens from the Community Treasury to provide liquidity for these bridges. The foundation aimed to maintain 25,000 CYBER in each of the CYBER-ETH, CYBER-BSC, and CYBER-OP bridges.
Supply Maintenance: In case of liquidity issues on any of the networks, the foundation would burn and mint CYBER tokens across chains to maintain a balanced supply. The total supply of CYBER tokens across all chains would remain constant at 100,000,000.
Market Reaction: A 40% Drop in CYBER Token Value
Following the announcement of the proposal, the value of CyberConnects native token, CYBER, experienced a sharp decline, plummeting over 40% within hours. This has raised concerns among traders that theCyberConnectproject owners and early investers would like to dump CYBER.However, upon the subsequent rejection of the proposal, the CYBER token experienced a slight rebound in price.
Image source: Shutterstock
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CyberConnect Rejects Proposal CP-1 After CYBER Coin Dropped ... - Business Blockchain HQ
Ethereum Gas Fees Explained Simply for Beginners – BTC Peers
Ethereum has become one of the most popular cryptocurrencies and blockchain platforms in recent years. However, one aspect of Ethereum that often confuses new users is gas fees. In this beginner's guide, we will explain Ethereum gas and gas fees in simple terms.
Ethereum gas fees refer to the fee, or pricing value, required to successfully conduct a transaction or execute a contract on the Ethereum blockchain platform.
In order to perform any action on the Ethereum network, you need to pay a certain amount of "gas". Gas is priced in small fractions of the cryptocurrency Ether (ETH). The amount of gas required depends on the complexity of the action you want to take. Simple transactions like sending ETH from one wallet to another require less gas than executing a smart contract.
Gas fees are paid to Ethereum miners as an incentive for them to add your transaction to the blockchain. The miners have to expend computing energy (literally spend gas) to process and validate your transaction. So the gas fee compensates them for that work. The more complex the action, the more gas it requires, and the higher the fee.
Ethereum gas fees exist to prevent network spamming and abuse. Without gas fees, users could execute an infinite number of transactions and slow down the network. Gas fees ensure that people use the Ethereum blockchain responsibly and minimize unnecessary transactions.
Gas fees also help determine the priority of transactions. Users can set a gas price they are willing to pay for each transaction. Miners will prioritize transactions with a higher gas price. During times of network congestion, setting a higher gas price can help get your transaction processed faster.
Finally, gas fees act as a critical anti-DDoS measure. If transactions were free or extremely low cost, malicious actors could generate a flood of requests to disrupt the normal functioning of the Ethereum network. Gas fees discourage such DDoS attacks by imposing a real financial cost on the attacker.
Ethereum gas fees are calculated based on two factors:
Gas Price is set by you, the user. The Gas Limit is determined by how complex the transaction is. For simple transactions, the gas limit might be 21,000 units. For a complex smart contract function, it might be 200,000 units or more.
To calculate the maximum total gas fee for a transaction:
Gas Fee = Gas Price x Gas Limit
For example:
So the maximum you would pay for this transaction is 0.001 ETH. The actual fee may end up lower than the maximum depending on the actual gas used.
Here are some tips to reduce the amount you pay in Ethereum gas fees:
As an Ethereum user, having a clear understanding of gas and gas fees enables you to optimize your transaction costs. You can avoid overpaying and prevent failed transactions due to incorrect gas settings. As Ethereum advances, gas mechanics may evolve. But the core principles will likely remain valid for the foreseeable future. Mastering gas is a key step to level up your Ethereum knowledge.
Now that we have covered the basics of Ethereum gas and fees, you may be wondering...
Ethereum gas prices and fees have varied widely over time. Here are some key stats on historical gas costs:
In periods of high network congestion, like during the height of the 2021 NFT boom, gas fees spiked dramatically. This pricing is driven by demand and supply economics. When demand is high, fees naturally rise as users compete to get their transactions processed faster.
However, even during calmer periods, Ethereum gas fees remain high compared to other blockchains. For example, a typical Ethereum transaction fee is rarely below $10, while Bitcoin fees can be under $1. This is due to Ethereum's unique architecture and extensive smart contract functionality.
To significantly improve scalability and reduce gas costs over the long term, Ethereum is transitioning to a "Proof of Stake" consensus model via the Ethereum 2.0 upgrade. This will allow sharding, parallel processing of transactions via sidechains attached to the main Ethereum blockchain.
In addition, Layer 2 scaling solutions like rollups and state channels will take pressure off the main chain and provide order-of-magnitude gas discounts for users. Plasma sidechains are another scaling approach in active development.
For the average user, Layer 2 solutions integrated into consumer products will be the most convenient way to enjoy low gas fees while retaining Ethereum's security. So watch for exchanges, wallets, NFT platforms and more launching Layer 2 access over the coming years.
Ethereum gas fees are generally higher than competing smart contract platforms like Binance Smart Chain, Polygon, Solana etc. Here's a quick comparison of average transaction fees:
However, Ethereum offsets higher fees with greater decentralization, censorship-resistance, dev community and security. As scaling solutions launch, Ethereum will aim to match the low fees of competitors while retaining its unique value proposition.
For new users eager to explore Ethereum, constantly waiting for lower gas is not ideal. Ethereum fees are a complex, ever-changing landscape. But fortunately as a beginner, you can enjoy most of what Ethereum offers without exorbitant fees.
Here are some tips to use Ethereum smoothly even when gas prices are high:
While gas fees are still a pain point, they should not scare you away from the amazing world of Ethereum and Web3. With the right strategies, you can dip your toes in for free and have tons of fun learning.
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Ethereum Gas Fees Explained Simply for Beginners - BTC Peers
Best DeFi Trading Platforms: What Are the Top DeFi Platforms in … – Captain Altcoin
Home De-Fi Best DeFi Trading Platforms: What Are the Top DeFi platforms?
Decentralized finance (DeFi) has transformed how people interact with financial services on the blockchain. By eliminating intermediaries, DeFi platforms allow for transparent, permissionless, and decentralized trading, lending, borrowing, and more.
In this guide, we explore some of the leading DeFi protocols across two key categories:
For each platform, well summarize its key features and value propositions so you can decide which ones are worth exploring further. Lets dive in!
Leveraged trading allows traders to amplify their positions by borrowing funds. This increases profit potential but also risk.
DeFi leveraged trading protocols enable this functionality in a decentralized manner, with some offering leverage up to 150x. Here are some top options:
Apex Pro is a decentralized exchange (DEX) developed by the crypto derivatives exchange Bybit. It aims to deliver a simplified DeFi experience tailored for leveraged trading.
Some key features include:
For traders interested in accessing the high leverage and potential profits of derivatives trading in a decentralized way, Apex Pro is worth exploring. As with any leveraged trading, manage risk appropriately.
Mux Protocol enables leveraged trading on decentralized exchanges with up to 100x leverage. Like Apex Pro, it aims to deliver an enhanced trading experience for retail DeFi traders.
Here are some notable features:
For experienced traders wanting to access the high-leverage trading of centralized exchanges in a decentralized way, Mux Protocol warrants consideration. Use risk management practices as leverage can amplify losses.
dYdX is a decentralized derivatives exchange that facilitates margin, perpetual, and synthetic trading options with leverage up to 15x. It is targeted at both institutional and retail traders.
Heres an overview of its key attributes:
Overall, dYdX offers advanced traders access to fast leveraged trading across a range of assets. Its Layer 2 scalability and mix of retail and institutional users give it an edge.
GMX is a decentralized spot and perpetual contract trading platform that offers low trading fees and price slippage. It provides up to 30x leverage trades optimized for retail DeFi traders.
Here are some key aspects:
GMX is worth evaluating for DeFi traders seeking a smooth and easy-to-use leveraged trading experience. Monitor upcoming changes as GMX continues enhancing its platform.
ApolloX is a decentralized derivatives exchange where traders can access margins and perpetual futures contracts with up to 150x leverage.
Lets examine some notable features:
ApolloX caters to advanced traders comfortable with very high leverage. Implement strict risk management as 150x leverage results in liquidations if positions move just 0.66% against you.
Read also:
In addition to leveraged trading, decentralized exchanges also enable regular cryptocurrency swaps and trading. Some leading platforms in this category include:
RocketXchange is a hybrid decentralized exchange that combines liquidity from both centralized (CEX) and decentralized exchanges. It aims to deliver the best rates for crypto swaps and trading.
Key features include:
For traders prioritizing the best prices and seamless multi-chain transactions, RocketXchange warrants a look. As usual, leverage trading comes with amplified downside risk.
RocketX is one of the best DeFi bridges.
Uniswap is arguably the most widely used decentralized exchange, operating on the Ethereum blockchain. It uses an automated market maker (AMM) system for trading ERC-20 tokens.
Key attributes:
With its robust liquidity and variety of ERC-20 trading pairs, Uniswap is a go-to decentralized exchange for the Ethereum ecosystem.
PancakeSwap is a top decentralized exchange on the Binance Smart Chain blockchain. It uses automated market making to facilitate trading of BEP-20 tokens.
Notable features:
PancakeSwap brings the benefits of decentralized trading to the Binance Smart Chain ecosystem. Fast transactions and low fees make PancakeSwap appealing for BEP-20 traders and yield farmers.
Trader Joe is a rapidly emerging decentralized exchange on the Avalanche blockchain. It offers trading, lending, yield farming, staking, and other DeFi services.
Notable attributes:
By aggregating DeFi services on Avalanche, Trader Joe provides an essential hub for the ecosystem. Its comprehensive feature set promotes usage and adoption of the Avalanche blockchain.
Chainge Finance defines itself as the ultimate DeFi dashboard aggregating features like trading, derivatives, yield farming, and more.
Key features:
Chainge Finance delivers a unified hub to access major DeFi functionalities. Its aggregated liquidity and array of services make it appealing to everyday DeFi users.
ParaSwap is a platform aggregating features like trading, derivatives, yield farming, and more.
Key features:
Chainge Finance delivers a unified hub to access major DeFi functionalities. Its aggregated liquidity and array of services make it appealing to everyday DeFi users.
1Inch is a leading decentralized exchange aggregator that sources liquidity from various DEX protocols. Its designed to find the most efficient swaps on Ethereum, BSC, Polygon and more.
Lets examine some key aspects:
1Inch stands out for its innovation in intelligently routing orders to optimize swap pricing. By compiling liquidity across networks, it saves users money on trades.
KyberSwap brings together liquidity from various decentralized exchanges to enable seamless, affordable token swaps across different blockchains.
Examining the key features:
By delivering seamless cross-chain swaps at optimized rates, KyberSwap is ideal for DeFi users looking to efficiently move across different blockchain ecosystems.
Decentralized finance is expanding at a rapid pace, with innovative platforms launching to enable trading, speculation, lending, borrowing, and more in a trustless manner.
This guide provided an overview of some leading options across leveraged trading protocols and general swapping/trading platforms. While decentralized finance solves many issues of traditional finance by eliminating rent-seeking middlemen, it does come with distinct risks related to the nascency of the technology.
As with any cryptocurrency-based activities, conduct due diligence before using any DeFi platform. Start with small amounts to understand the mechanisms and risks associated with decentralized trading.
For experienced traders, DeFi presents a new playground of opportunities. The platforms above are worth tracking as the top DeFi leaders evolve.
CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com
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Best DeFi Trading Platforms: What Are the Top DeFi Platforms in ... - Captain Altcoin
I asked ChatGPT about BNB as the fate of CZ-led Binance is in limbo – AMBCrypto News
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writers opinion.
Binance [BNB] the largest crypto exchange by trade volume seems to be losing out with the mounting regulatory scrutiny from Western regulators. In the latest development, Mastercard, one of the leading payment service providers, announced it would be parting ways from the exchange.
Two major developments also took place in the last few days that reflect the currents of the ongoing tussle Binanceis engaged in across countries.
In Nigeria, a leading trade association urged the national government to ban the activities of Binance. The Nigerian regulator has already banned the exchange in the country.
Meanwhile, the exchange secured a license to operate in El Salvador. Binance is the first fully licensed crypto exchange in the country.
While we see Binance getting a warm reception in some jurisdictions, it is facing scrutiny in others. It all began when the U.S. Securities and Exchange Commission (SEC) sued the exchange inearly June for allegedly violating federal securities laws.
TradingView shows a surge in aggregated sell orders of about 125,000 BNB worth $37 million just before the U.S. SECs crackdown on the exchange. Speculations are rife around a possible case of insider trading.
In another development, the U.S. Department of Justice (DOJ) is reportedly contemplating the possibility of bringing fraud charges against cryptocurrency exchange Binance. Officials at the DoJ are concerned, Binance could trigger a situation similar to what FTX experienced in 2022. As a result, they were exploring alternatives such as imposing fines or establishing non-prosecution agreements with Binance, aiming to mitigate potential harm to consumers.
Earlier, BNBs price rose barely 7% after Ripple [XRP] secured a partial victory in its legal battle with the U.S. Securities and Exchange Commission (SEC) on 13 July. But it hasnt led to a significant price rally.
The U.S. District Court of the Southern District of New York ruled in its judgement that the sale of Ripples XRP tokens on crypto exchanges and though programmatic sales did not constitute investment contracts; hence, it is not a security in this case. But the court also ruled that the institutional sale of the XRP tokens violated federal securities laws.
The crypto industry has lapped up the judgement instantly, generating a price rally across tokens for some time.
Binance has been subjected to relentless regulatory scrutiny in 2023, raising grave concerns about the survival of one of the largest crypto companies in the world.
The worlds leading crypto exchange is also under regulatory scrutiny across several countries in Europe besides the U.S.
Germanys financial regulator has rejected Binances request for a crypto custody license. The exchange has withdrawn its request for regulatory approval in Austria. It has also given up its registration with regulatory bodies in the United KingdomandCyprus.
The exchange has opted toquit the Netherlands after failing to register there. Belgium has also ordered the exchange to suspend its operations in the country. The French authorities are also reportedly investigatingthe exchange on aggravated money laundering charges.
In March, the U.S. Commodity Futures Trading Commission (CFTC) filed a lawsuit accusing the exchange and its founder Changpeng Zhao CZ of violating local compliance rules to expand its business. The exchange has decided to seek dismissal of CFTCs complaint.
However, the recent SEC-Ripple court judgement has led many to believe it will have a positive impact on Binances case also.
The future course for Binance and its native token, Binance Coin, is shrouded in uncertainty. And, most of the investors and analysts in the space would be busy understanding the dynamics of making informed decisions going forward. We at AMB Crypto, tried to get some help from an unlikely ally, ChatGPT
ReadPrice Prediction for Binance Coin [BNB]2023-24
Ever since it burst onto the scene, ChatGPT has become a rage, revolutionizing the way humans interact with AI. People have flooded the AI-powered chatbot with a plethora of use cases to get assistance with literally anything. Right from finding a bug in a code, asking philosophical questions about life, getting dating advice, and even writing full-fledged media articles (not this one though).
Put simply, it functions like a conventional chatbot that we have encountered in the customer support section of different e-commerce companies. However, the big difference here is that communication is more conversational, or to put it differently, more human-like.
Well, this is because it is trained using reinforcement learning from human feedback (RLHF). This helps it understand instructions and generate nuanced responses.
But crypto? Binance? Are we stretching the limits of ChatGPT? Lets see.
Binance is not new to compliance-related issues in the U.S. In 2019, it ceased operating in the country and launched a separate exchange, Binance.US, its American arm.
The platforms structure is quite similar to the fallen FTX in the sense that a major part of its administration is being controlled from outside the U.S. Hence, it has always been under the radar of the regulators.
We started to test our AI friend by posing this very sweeping, although controversial, question. Currently, the ability of ChatGPT to express itself is hindered due to the restrictions imposed by the creators. To make it speak its mind, we used the jailbreak hack.
ChatGPT speculated that Binace might consider adjusting its operational strategies inthe face of a regulatory storm in the U.S. However, the final outcome is shrouded in uncertainty.
Apart from regulatory concerns, the ecosystems blockchain, BNB Chain, has gained notoriety over the rising number of decentralized finance (DeFi) hacks of late. As per a report by ImmuneFi, a Web3 bug bounty platform, BNB Chain was the most targeted chain in Q1 2023 with 33 incidents of hacks and exploits.
Here again, we turn to our AI partner to know if hacks will be the undoing of Binance. This time, it seemed as if it was ready to respond to this question promptly.
ChatGPT said hacks were definitely a cause for concern and advised the developers to prioritize the issue. Otherwise, it may have a damaging effect not just on the adoption of the BNB Chain, but on the value of the BNB coin as well.
Well, ChatGPT asks readers to take its word of caution seriously. To address the security loopholes, BNB Chain soon announced a hard fork which is scheduled to go live on 12 April.
Another thing that caught our attention was the use of BSC rather than BNB in the latest response. Now, its a known fact that Binance Chain and Binance Smart Chain are now collectively referred to as one entityBNB Chain. The update took place in February 2022. However, ChatGPT continued to use BSC Chain.
This, because its knowledge cutoff date is September 2021, meaning that it will base its answers on the information available until this date only.
At press time, BNB was the fourth-largest cryptocurrency in the sector, with a market cap of more than $33 billion, as per CoinMarketCap data. As a result, significant fluctuations in its value could create ripples in the broader crypto market.
BNB commenced a bullish cycle at the start of 2023, something that has helped it in gaining 27% on a year-to-date (YTD) basis. However, recent hiccups have applied brakes to its momentum.
Although setting unrealistic expectations amidst this FUD is not the most sensible thing to do, we tried to put ChatGPT under a bit of pressure. We asked it what price BNB will hit towards the end of 2023, given the current state of uncertainty. The AI bot responded; it sees BNB hitting the price of $300-$350 by the close of 2023.
Enough of the AI praise! Needless to say, it isnt practical to only depend on what an AI tool says in price predictions and markets. There is nothing like getting the insights of real-world experts. Therefore, we got in touch with Marius Grigoras, Chief Executive Officer at BHero and a crypto-expert, to help us out with the same question that we asked ChatGPT. He stated,
While I cannot give a certain answer on whether BNB will reach $350 in 2023, we must consider the general market dynamics. Its evident that the recent regulatory crackdown has taken its toll on the entire crypto market, including BNB. But despite some fluctuations in price which may occur in the short term, I believe BNB possesses the resilience to rebound even stronger in the long haul.
Did you find similarities between human opinion and AI opinion?
Is your portfolio green? Check out theBNB Profit Calculator
BNB continues to bleed out since the U.S. SEC filed a lawsuit in early June. At press time, BNB was trading at $217.1. The price of BNB is nearly the same as it was a week earlier.
This is obviously not a good time for the token. The coin tanked to $220 during the December 2022 FUD around Binances proof of reserves.
While both BNBs Relative Strength Index (RSI) and Money Flow Index (MFI) rested below the neutral 50-mark, its On Balance Volume (OBV) also showed a downtick over the last few days.
While BNBs on-chart metrics dont point towards a price rally, ChatGPT predicts its price to more than double by the end of the year. However, its critical to underline that these indicators fluctuate on a daily basis and might quickly take a wild swing.
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I asked ChatGPT about BNB as the fate of CZ-led Binance is in limbo - AMBCrypto News
Fetch.ai (FET) Continues 2023 Momentum, up Almost 200% Year … – Securities.io
Bitcoin has pulled back from Tuesday's high above $28,000, a level the crypto asset traded before the mid-August sell-off, as investors mulled the implications of Grayscale's court victory over the US Securities and Exchange Commission (SEC).
Meanwhile, FET jumped 25% in value in the past three days, surging past $0.250 on Thursday. However, it went on to drop to $0.229 before going back up a bit to now trade at $0.24130.
With a market cap of $245.6 million, FET is the 128th largest crypto asset, and it is currently up 10.9% against USD 11.2% and 11.3% against BTC and ETH, respectively, in the past 24 hours while managing $135 million in trading volume, representing an increase of 200% from a day ago. With this, FET is currently up 17% this month and 193.3% over the past year.
Looking upwards, the price has resistance present at $0.25, $0.27, and $0.29, while if the price moves down, it will find support at $0.17, $0.15, and $0.13.
For FET, 2023 has been a good start as prices went from $0.09225 at the beginning of the year to $0.550 on Feb. 8. However, over the next four months, FET dropped 67.2% in value to $0.180 in mid-June. And since then, the price has primarily been trading in the $0.20 and $0.25 range.
Launched in 2019, the token quickly dropped from $0.35 to $0.03 later in the same year, only to hit its all-time low at $0.008169 in March 2020, much like the majority of the crypto market. Then, a year and a half later, it surged to its all-time high (ATH) of $1.17. The token is currently down 79.5% from its Sep. 2021 peak.
FET is an Ethereum token that serves as the primary medium of exchange within the Fetch.ai ecosystem. To avail of the services provided by the platform, one has to pay in FET. In addition to payment, through staking, FED holders can earn semi-passive income from their FET tokens while contributing to the Fetch network's operations.
The token has a total supply of 1.15 billion, out of which just over 1 billion are already circulating in the market.
Co-founded in 2017 by Humayun Sheik, Toby Simpson, and Thomas Hain, the platform raised $15 million in a seed funding round in June 2018 and then $6 million through an initial exchange offering (IEO) on Binance in February 2019. Fetch launched its mainnet in March 2021 and raised another $5 million.
In July 2021, Fetch.ai upgraded its network, and a month later, it was able to force Binance to find and freeze $2.6 million worth of assets allegedly stolen from the project's Binance trading account by hackers.
This year, in March, the Artificial Intelligence (AI)-focused crypto protocol yet again raised $40 million from market maker and investment firm DWF Labs. The capital will be used for deploying decentralized machine learning, autonomous agents, and network infrastructure on its platform, the firm said. This fresh funding came during the rise in popularity of AI-driven chatbots such as ChatGPT and image generation software DALL-E.
Click here to learn all about investing in Fetch.ai (FET).
Fetch.ai is a decentralized blockchain-based artificial intelligence (AI) and machine learning (ML) platform. It seeks to provide AI platforms and services that allow anybody to build and deploy AI at scale, at any time, and from any location.
The platform combines blockchain architecture with direct acrylic graph (DAG) technology, and for consensus, it uses a combination of PoW, PoS, and DAG, which is the UPoW (useful proof-of-work/proof-of-beneficial work).
Fetch.ai aims to be a decentralized digital world in which autonomous software agents conduct productive economic activities. As such, users can utilize the platform to accomplish tasks such as distributing data or offering services and be compensated with FET tokens for their efforts.
It further aims to link agents, digital entities representing data, service, hardware, individuals, or infrastructure elements, with value and users who need that value. Users can also digitize themselves or their businesses by claiming a digital twin, which is a personal agent who tries to improve users' lives.
So, while the crypto market has been making attempts at recovery, the project released the Fetch.ai Wallet version 0.15 in August. This marks the beginning of cross-chain support in the wallet, with the update serving as a stepping stone toward a future where interoperability between EVM networks and the Cosmos ecosystem becomes accessible to all, said the team.
The wallet now supports two new EVM chains, viz. Ethereum and Binance Smart Chain with more to be added in the future, including the ability to add custom chains in the next release.
At the same time, the team introduced native FET bridge support for Ethereum and Fetchhub networks, allowing users to effortlessly convert FET tokens from Ethereum ERC20 to Fetchhub native and vice versa.
As we embark on this journey toward greater cross-chain functionality, we envision a future where the lines between networks blur, and the endless possibilities of interoperable systems come to fruition, said the Fetch.ai team, which is also planning to roll out AI-based automation in subsequent releases.
The month before, the team released Agentverse v0.7, bringing new features and enhancements to the Fetch.ai Agentverse platform. This included smart contract capabilities introduced to Managed Agents within the Agentverse, allowing users to deploy and interact with contracts on the Fetch.ai ledger using CosmPy's LedgerContract object. Additionally, the Protocol Manifest Viewer allowed users to explore detailed specifications of protocols uploaded to the Agentverse, enhancing collaboration and innovation within the community. At the time, the testnet faucet was also replaced with a central funding manager for convenience.
Earlier this in Feb. as artificial intelligence-focused cryptocurrencies gained favor among investors and traders, Fetch.ai teamed up with electronics giant Bosch to form a foundation called the Fetch.ai Foundation for the research and development of blockchain technology's real-world use cases in the areas of commerce, hospitality, and transportation.
The Netherlands-based non-profit organization has a three-tier governance structure and is inspired by the Linux Foundation's decentralized innovation model. With the help of Bosch, Fetch.ai aims to fast track Web3 adoption in the industry and encourage participant growth and contributions from new participants.
Most recently, Fetch.ai's Discord server got compromised, resulting in phishing attempts. The team has advised the community to remain vigilant and use only the official channels via its website. The team has contacted Discord, Twitter, and Google to take down the fake accounts and landing pages.
Click here to learn all about buying Fetch.ai (FET).
FET's latest price action came after Bitcoin made one of the largest hourly moves since Terra's collapse, which is in part due to low liquidity. The other time was during the Aug. 17 sell-off, which sent Bitcoin's price to a two-month low, resulting in traders recording $1 billion of losses in liquidations.
At the time of writing, the largest cryptocurrency by market cap is trading at $27,290, while Ether is exchanging hands at $1,710. The broader crypto market mirrored the two leading assets' move, with the total crypto market also falling a bit to $1.131 trillion.
This week, the crypto market rejoiced with the news of a federal appeals court ordering the SEC to review its rejection of investment manager Grayscale's bid to convert its $16.95 billion Grayscale Bitcoin Trust (GBTC) into a spot Bitcoin exchange-traded fund (ETF), spurring an immediate rally in not just digital asset prices but also crypto-related stocks.
Talking about Grayscale's win, broker Bernstein said in a research report that it was the second landmark win for the crypto industry against the SEC following Ripple's favorable ruling last month. The ruling likely clears the path for a spot bitcoin ETF and increases the chances that the Commission might approve all the current applications together, analysts led by Gautam Chhugani wrote.
Advocates expect this product to enable a greater swath of the general public to invest in Bitcoin without having to go through the trouble of buying it directly. So far, the SEC has rejected every such ETF application it has reviewed.
Hence, the decision has been hailed as a landmark victory that could potentially pave the way for a spot BTC ETF in the future and the entry of fresh capital in the market. During the summer, several investment firms applied or renewed their bid to list such a product, including TradFi giant BlackRock.
BlackRock's Bitcoin ETF will attract an allocation of $20-50bn over time, a calculated assumption given that Gold ETFs alone hold $100 billion, wrote Markus Thielen, head of research and strategy at Matrixport, in a note to clients this week, adding the well-diversified portfolio would allocate 42% to global fixed income, 21% to global equities, and 37% to alternatives including 10.6% to BTC.
However, it is notable that the ruling doesn't automatically guarantee the approval of Grayscale or any other firm's application. According to Berstein, it does give a fair basis for Grayscale to be treated in line with other Bitcoin ETF applicants. Bernstein has previously said that it expects a spot bitcoin ETF market to reach 10% of the BTC market cap in just a couple of years.
While it's too early to tell how sustainable the latest spike in price was, we could see a slight reversal, said Clara Medalie, director of research at Kaiko, in an interview. This expectation for a reversal is based on the fact that this rally was only accompanied by modest trading volumes, which represents market participants' engagement in the market and climbed to just a two-week high relative to other mini bull markets.
The good thing is average BTC buy orders, unlike volume, have jumped to the highest since June, suggesting activity from large investors. The average trade size for Bitcoin on Kraken increased to above $2,000 on Tuesday after the ruling, from around $850 the day prior, as per the data from Kaiko. The last time BTC's average trade size was higher than $2,168 was in June.
While a series of ETF approvals will be a bullish catalyst for the crypto market, Medalie said, We are still in the middle of a tumultuous period for the industry with quite a few bankruptcies and lawsuits ongoing.
With Bitcoin price showing weakness after the initial jump, further downside is expected, with the support level to watch at around $25,000.
This week, another piece of good news came from the social media platform X (formerly Twitter), as it obtained a license required for crypto payments and trading in the US. The Rhode Island Currency Transmitter License was approved on Monday, which is required to provide virtual asset-related services on behalf of users. It will enable X to exchange, transfer, and store digital assets for its massive user base.
Separately, X owner Elon Muskagreedlate on Wednesday to DogeDesigner's post about the social media company not launching any X-coin but rather making real money work on the app rather than some substitute currency. Previously, Musk has stated that he wants to turn the platform into an everything app.'
On top of it all, the US Labor Department's Job Openings and Labor Turnover Survey (JOLTS) said vacancies dropped to the lowest level in over two years in July. The data weakens the case for continued rate hikes and, as a result, sent Treasury yields and the dollar lower.
So, as we saw, the crypto market has made several developments, but the price has lost strength, which means a further downtrend is to be expected in the near future. But while it takes time for the market to regain interest and traction, it is a good time for projects like Fetch.ai, which are also leveraging the trending AI narrative, to prepare for the times when retail gets back in.
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Fetch.ai (FET) Continues 2023 Momentum, up Almost 200% Year ... - Securities.io
How Rotacash Finance is disrupting traditional ROSCA with AI & … – CryptoTvplus
In the realm of financial inclusion, empowerment and community-based savings, ROSCA (Rotating Savings and Credit Association) circles have gained significant attention as a powerful tool. These circles bring people together to save and borrow money in a structured and mutually supportive manner.
Rooted in cultures across the globe, ROSCA is a collaborative savings and lending system designed to provide participants with access to funds for various purposes, without relying on traditional banking structures.
The traditional ROSCA Model has been known for certain inherent issues such as transparency, accountability and participation barriers, making it seem non-sustainable in most cases, but has also created opportunities for Technology and digital innovations to create a more sustainable system for ROSCA to thrive.
Rotacash Finance is leading the innovations to disrupt the traditional ROSCA circle by harnessing the power of AI on the Web2 and Web3 to sustainably deepen financial inclusion on a global scale.
Launched in late january 2023, Rotacash Finance built a web2 app to enable users to either create their ROSCA groups by signing up and inviting their peers to join their group or sign up to join an existing and available group.
The team had recently shared their traction and milestones in a medium article published on their medium page;
We are excited to share that our first weekly Rotating Savings and Credit Circles that was launched with 64 unique accounts IDs, along our web2 platform in late January 2023 has been completed successfully with Zero failed remittance from all the participants.
Rotacash on the Web3
Rotacash Finance is leading the innovation to disrupt the traditional Rotating Savings and Credit Circles on the web3 landscape by building and deploying Smart Contract based DeFi Rotating Savings and Credit Circles insured and protected with Collateralized NFTs, with smart contract functionalities on the Binance Smart Chain Network. On launch after their token sales, every Rota Circle participant will be required to stake their Collateralized NFTs as an identity and insurance to be able to participate in, or create their own DeFi lending circles of either daily, weekly or monthly circles.
The NFTs are in 3 tiers and details of their uses and functionalities can be found on the project whitepaper on their Dapp.
As part of their web3 pre-launch campaign, Rotacash Finance is Giving away 50,000 JASPER NFTs for its Initial Minting/Tokens Airdrop exercise. Every wallet that connects to the Dapp to mint will receive 400 tokens per unit of NFT minted and additional 400 tokens for every successful referral mint. The minted NFTs will be valued at $3 floor price per unit at launch and could appreciates in value overtime. To participate, visit https://nft.rotacash.finance, click on Connect Wallet and select any of the supported wallet on the list to connect, approve and mint.
Then enter your email address on the column for email and click sign up to generate your unique referral link to share with your friends and family members, then enter your wallet address that was used for the minting to make it possible to receive your Airdrop tokens during distribution.
Follow Rotacash on X (Twitter), Facebook and Join their Telegram Community to get their regular updates.
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How Rotacash Finance is disrupting traditional ROSCA with AI & ... - CryptoTvplus