Crypto Great | Bitcoin | DeFi

2021-07-12 11:41:24 Cosmos (ATOM)

Cosmos’ goal is to become the “Internet of blockchains.” And it’s determined to be at the forefront of this trend through various improvements.

The network recently released its most anticipated update: Stargate.

This includes updates to its blockchain engine Tendermint Core, software development kits (SDK), and the launch of the Inter Blockchain Communication (IBC) protocol. Tendermint Core supports applications written in any programming language, making it easy for all blockchains to use.
SDKs help developers build quickly on the network. Cosmos’ SDK will facilitate the development of Tendermint Chains and smart contracts. We believe it will soon become one of the most widely used tools in blockchain development, bringing more activity to the Cosmos ecosystem.
And after five years of research, the IBC protocol is finally ready to bring interoperability between blockchains built using Cosmos’ SDK. This long-awaited release stands as one of the most significant milestones for the crypto space.

Already, blockchains are flooding to take advantage of Tendermint’s IBC and SDK protocols, including Binance Smart Chain, Crypto org Chain, and OKExChain. There are among $132 billion in digital assets under management across 244 apps and services that utilize the IBC protocol.

With the release of Stargate, Cosmos is rapidly gaining traction as one of the go-to platforms for developers to build on. We look forward to the possibilities this creates for developers and the benefits its growing network effect will have on the price of its underlying ATOM token. Open / Comment

2021-07-09 11:24:00 Zcash (ZEC)

Zcash is a privacy token that users can spend, send, and receive via phone or computer. It enables anyone in the world with an internet connection to transact privately. And now, it’s also exploring new ways to expand its usage as a privacy token.

One way developers recently did this was by raising over $65 million in Zcash’s shielded pool. It’s a liquidity pool that allows private cross-chain swaps on Thorchain, a blockchain on the Cosmos network. It’s a big achievement for Zcash, as a growing number of DeFi protocols trade synthetic or wrapped assets. And users can now access them.

Thorchain can also provide privacy to ZEC token holders. And it gives them a trustless way to trade ZEC tokens without relying on a centralized exchange like Binance or Coinbase. With cross-chain swaps now available to ZEC token holders and an increased focus on privacy, we’ll soon see Zcash tap into DeFi protocols to increase the tokens’ usability. Open / Comment

2021-07-07 11:54:00 ​​Oxen (OXEN)

After LOKI’s successful rebranding to OXEN, it’s continuing to work on its products and bring users the most secure and private experience in the DeFi space.

Whether it’s through upgrades to the Sessions secure messaging app, or its staking and airdrop rewards, OXEN keeps bringing new users to its platform daily. Since February, it’s brought over 70,000 daily users and climbing to Sessions.

Oxen is constantly thinking about ways to keep its messaging platform truly private and secure. Instead of using your phone number to set up an account that could compromise personal data, Sessions uses public key cryptography. It provides a much safer alternative and comes with added privacy.

OXEN also launched the website of its cross-chain DEX, Chainflip, with the DEX itself and full capabilities coming soon. Chainflip allows users to swap tokens from other networks. Meaning users can swap BTC or ATOM with any other (Ethereum native) ECR-20 token through the DEX website.

Chainflip’s DEX is a one-of-a-kind swap service. There’s no additional software, specialized wallets, pre-deposits, pegged/wrapped tokens, synthetic assets, or collateral requirements needed to swap a token.

Chainflip is expected to launch its testnet this summer and mainnet by January 2022. When it launches, we anticipate greater activity on the network which will lead to higher token prices. Open / Comment

2021-07-05 12:25:14 Dash (DASH)

Dash is a peer-to-peer cryptocurrency focused on creating frictionless payment solutions.

This month, its Dash Core network will move from testnet to its mainnet, which is critical for the Dash Wallet and Dash Platform updates it’ll release in Q4 this year. This move to mainnet starts the migration process of master node validators and mining operators to adopt the latest version.

Shortly after Dash Core launches, we’ll see three major upgrades to the Dash Wallet:

DashSwaps will make the wallet more accessible to users by instantly swapping cryptocurrency payments into Dash.
DashPay will now have a “buying with Visa” feature. This will allow users to buy Dash directly with their credit card without the use of a third party, such as Uphold.
And it will include interface improvements for a better user experience.

We expect these updates to be available by June.

The release of the Dash platform will bring smart contracts and data oracles to the network. This will give developers the ability to build DeFi applications on the Dash Network, expanding its usability beyond just a payments system.

A lot is coming down the pipes for Dash leading up to its Dash Platform launch in Q4, making it an exciting time to be a DASH holder. These new platforms and upgrades will put Dash on the path to becoming the PayPal of the crypto world and enabling companies to easily accept cryptocurrencies as payment. Open / Comment

2021-07-02 11:32:00 ​​Yearn finance (YFI)

Yearn finance is a decentralized application on the Ethereum blockchain that allows users to optimize their earnings on crypto assets through lending and trading services.

As of writing, one YFI token trades around $50,000. That high price tag intimidates amateur investors. So this month, Yearn finance introduced the Woofy token. One million Woofy equal 1 YFI. So investors can find these more approachable and hold more portions of the YFI token.

Yearn finance’s pools, called “vaults,” rely on CurveFi and earn CRV rewards as incentives, up to its highest yield of 6.72%.

Last month, Yearn finance locked a portion of its earned CRV (over 11 million veCRV tokens) into its “Backscratcher” vault to boost the rewards for vaults that have CurveFi strategies. Users can now earn approximately 11% staking their CRV in the “Backscratcher” vault on the Yearn finance platform.

These high reward vaults have grown the number of users on the Yearn finance platform. In May, the TVL in the Yearn protocol reached $4.3 billion, a 265% increase from April.

We expect to see this number to increase and bring YFI back up to its recent high of $82,000 from earlier this month. Along with the rest of the crypto market, the current price action is a great opportunity to get involved with this project if it goes below our recommended buy price. Open / Comment

2021-06-30 11:54:00 Curve (CRV)

Curve Finance is a decentralized exchange running on Ethereum that specializes in swapping between stablecoins. You can think of Curve as the Uniswap of stablecoins.

Curve’s AMM is a liquidity aggregator that pulls liquidity from multiple pools. This allows for low fees and slippage (difference between expected and executed price). Curve provides investors with large amounts of liquidity and the ability to take advantage of arbitrage opportunities between different stablecoins.

A recent example of this arbitrage was when a user executed one of the largest swaps on the protocol last month. They swapped $192.59 million worth of USDT for $193.898 million of USDC. That resulted in over $1.3 million in profit. And $77,000 of that was paid out as a fee to Curve DAO liquidity providers (token holders).

This increased usage of the Curve fi platform has brought daily volume to over $1 billion in April and over $400,000 in fees paid to Curve DAO stakers. We expect to see more users flock to the platform to benefit from its fee structure for token holders. Open / Comment

2021-06-28 12:43:35 ​​Synthetix (SNX)

Synthetix is a decentralized synthetic asset issuance protocol on Ethereum’s network. SNX allows users to create crypto assets that mimic real-world assets and other cryptocurrencies.

Last month, Synthetix unveiled the Alnilam release and introduced the FAANGs, some of the world’s largest companies, into the Synthetix protocol. These include sFB, sAMZN, sAAPL, sNFLX, and sGOOG - synthetic assets that track the price of Facebook, Amazon, Apple, Netflix, and Alphabet, respectively.

Users can now trade FAANG synths on Kwenta io, a derivatives trading platform powered by the Synthetix protocol. They can also lock up their FAANG synths for DeFi staking rewards of over 100% APY on the Synthetix platform.

Thanks to Synthetix, any investor with an internet connection can trade, speculate on, and earn income from the largest assets in the world in brand-new ways… This will drive up the price of the SNX token, which powers the decentralized platform.

Synthetix is also increasing the utility of its SNX token. In April, SNX became the first curated pool to enter THORChain by liquidity providers’ request. This makes it available for swaps, incentives, and impermanent loss protection on the platform. And it’s part of the reason it recently hit an all-time high of $28 per token.

Since then, SNX has pulled back slightly with the rest of the market to around $25. You can use price dips to get exposure to the project below our recommended price if you haven’t yet. Thanks to its partnerships and ability to bring all kinds of assets to the blockchain, Synthetix
will continue to be a leader in the tokenization trend. Open / Comment

2021-06-25 11:02:00 ​​Celsius (CEL)

Celsius Network is a blockchain-integrated platform that gives anyone with a smartphone access to financial services. Celsius is an SEC-complaint platform that provides users with lending, yields, and payment solutions that aren’t available through conventional institutions.

This month, Celsius partnered with B21, a mobile app that provides a simple platform for buying and managing crypto assets. B21 offers a personalized crypto portfolio and ways to easily deposit funds using bank transfers, debit, and credit cards. It’s available in over 82 countries, including the U.S.

Together with Celsius, B21 launched a new “Earn” feature. This lets users stake their entire portfolio in a single click to earn weekly yield. Users can now earn up to 18% annual percentage yield (APY) on all their crypto assets and benefit from rewards, weekly payouts, and asset transfers.

Celsius continues to make banking features available while cutting out middlemen. We believe crypto investors looking for easy ways to earn yield on their assets will seek out its solution. Open / Comment

2021-06-23 11:27:00 Balancer (BAL)

Balancer is an automated market maker (AMM) similar to Uniswap. Balancer sets itself apart from DEXs like Uniswap by enabling its users to create liquidity pools with up to 16 assets rather than two.

This allows Balancer users to create a portfolio of assets with customized weights and be paid by market makers who rebalance their portfolio. It flips the traditional asset management structure on its head – giving restructuring fees to users, not asset managers.

After more than a year of development, Balancer V2 went live this month, proving to be one of the most flexible and efficient AMMs out there. With it, Balancer aims to give users the best token price at a low gas cost with a fully redesigned user interface. Some improvements include:
Balancer’s new protocol vault. This allows trades to pull liquidity from vaults, saving a lot of computational work and gas fees.
Plus, Balancer V2 users will receive BAL when swapping tokens on the new easy-to-user interface. This will also help lower the overall cost of gas fees.
On March 7, the community approved to increase BAL distribution. This should entice more liquidity providers on the network and give traders incentives to use the protocol.
Balancer V2 smart contracts are now on the Ethereum ecosystem. These are public and open source, allowing any developer to work on the network in full transparency. And they give Balancer flexibility to support different AMM smart contract logic.

Balancer’s V2 improvements to its security, flexibility, capital efficiency, and gas efficiency brings Balancer’s vision of being the primary source for DeFi liquidity much closer. Open / Comment

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