DeFi Telegraph (eng) ( ICO reviews)

2021-12-28 17:07:02 Metaswap Gas and MetaDAO projects turned out to be exit scams

PeckShield experts warned investors after revealing a sharp 46.99% drop in the price of the MGAS token. After that, all official accounts of the project on Twitter, Instagram and Medium were deleted. The developers of Metaswap Gas positioned the project as an exchange platform for non-interchangeable tokens on Ethereum, BSC and Polygon blockchains.

According to PeckShield, 1,100 BNB worth nearly $602,000 were transferred to a Tornado Cash account. The service helps users anonymize cryptocurrency transactions.

PeckShield later issued a new warning about a protocol with a similar name, MetaDAO. According to the security company, the project used the same rug pull scheme and the same withdrawal service as Metaswap Gas.

Attackers withdrew 800 Ethereum (~$3.2 million) from the project, PeckShield experts said. Open / Comment

2021-12-28 15:14:02 The delayed transition to PoS has not prevented Ethereum fees from decreasing

The gas fees charged to perform transactions on the Ethereum network are discouraging many Ethereum users. To solve this problem, a year ago Ethereum developers suggested switching to the Proof-of-Stake algorithm. It is believed to be more energy-efficient than the current Proof-of-Work model and could lead to lower gas prices on the network.

When the Kintsugi test network went live on December 20, Ethereum said the move to PoS would be delayed until June 2022. However, despite this, gas charges on the network are already coming down. Over the past seven weeks, the average price of transaction fees has fallen 67%, from $62 on Nov. 9 to $20.61 on Dec. 27.

As of December 27, the median fee on the Ethereum network was $20.61 or 0.0051 ETH. The median ether fee for the same period was also down 70%. Open / Comment

2021-12-28 13:01:02 Polytrade is set to launch a core network in January 2022

Polytrade (TRADE), DeFi's credit platform for small and medium-sized enterprises (SMEs), announced that it will launch a core network on January 10 next year. In addition, the project announced a partnership with Formation.Fi.

"The launch of Polytrade's core network on Jan. 10 will provide working capital for SMEs around the world. FormationFi, one of our esteemed partners, will provide our lenders with a platform to host their investments and help SMEs in need, a goal we have been pursuing since the creation of cryptocurrencies," Polytrade said in a tweet.

Polytrade (TRADE) is positioned as a protocol that "aims to transform receivables financing and connect buyers, sellers, insurers and investors for seamless trading." Open / Comment

2021-12-28 10:58:02 ClearDAO Deploys Derivatives Protocol on Solana Devnet

ClearDAO today announced the deployment of the Option Barrier application template on the Solana dedicated developer network.

"ClearDAO is a decentralized derivatives factory where DeFi developers can use the Clear SDK to create custom derivative products and run derivatives exchanges. The first proof-of-concept is the barrier options marketplace currently in public alpha of the BSC and Arbitrum test networks, which anyone can interact with," the report said.

"We are building a future in which all derivatives are created, traded, registered, cleared and settled in a network of blockchain ecosystems powered by ClearDAO," the developers said in a statement. Open / Comment

2021-12-26 18:35:11 UST is listed on Binance and Huobi, raising Terra to $100

UST, the most frequently traded stabelcoin from Project Terra, has now reached a major milestone with two of the leading exchanges by trading volume including it in their platforms. Asian exchange Huobi announced that it would include the asset in its Pioneer Zone on December 23 and launched a contest to generate interest in trading the new currency, offering 210,000 UST to platform users.

Following the listing announcement, the price of LUNA reacted positively, breaking the recently set record high of just over $80 set on December 20.

The market capitalization of the Terra stabelcoin rose significantly in just the last week, from $8.8 billion on December 18 to nearly $9.8 billion on December 24. Immediately after Binance's announcement, more than $200 million was issued. This, judging by the dynamics of token issuance, may have influenced the appreciation of LUNA. Open / Comment

2021-12-26 16:22:02 mStable and Balancer DAO announce treasury swap

Balancer DAO will bid on the MTA and vote on its pools with the Issue Controller, channeling higher incentives and potentially attracting more liquidity to its pools through aligned interests and mutual cooperation.

"This opportunity demonstrates the utility of the Issue Controller, where DAOs can actively participate in the management of the mStable protocol and direct MTA issuance according to their use case, creating an alternative path to growth and attracting liquidity through mStable's growing DeFi product suite," the announcement reads.

mStable (MTA) and Balancer (BAL) have had a longstanding relationship since 2020 - mStable was one of the first users of Balancer Protocol in August 2020, and at one point even had the largest pool on Balancer. Open / Comment

2021-12-24 13:44:01 DeFi could surpass $1 trillion in capitalization in 2022

Ninepoint investment manager Alex Tapscott believes the DeFi sector will show even more impressive growth next year.

Tapscott, founder of Blockchain Research Institute, commented in an interview about the rapid and significant growth in the amount of assets locked up in DeFi.

"The current value of DeFi is, depending on who you ask, between $100 billion and $200 billion. I think the second number is more accurate. We're going to hit a trillion dollars next year, and that's a pretty conservative estimate."

"Today the number of DeFi users is about 3 million. Last year it was a couple hundred thousand, so it's pretty fair to assume that at the current rate of growth we could reach 30 million, maybe even 50 million users by the end of 2022." Open / Comment

2021-12-24 11:31:01 PwC Hong Kong has acquired a plot of virtual land in the Sandbox project

The location of the plot and the amount of the deal were not disclosed. However, according to trading platform OpenSea, the average plot of land in The Sandbox metaclassical project costs between $10,000 and $15,000.

PwC HK plans to build a Web 3.0 consulting center on the virtual plot of land to provide professional consulting services, including accounting and tax audits.

William Gee, a PwC partner in Hong Kong, said the organization will seek to "leverage expertise to advise clients" in metaconsciousness, calling emerging technology a "digital phenomenon."

"The metaworld is open for business. We welcome PwC to Hong Kong to see how Sandbox provides new opportunities and ways for brands to interact with customers," said Sandbox chief operating officer Sebastien Borget. Open / Comment

2021-12-23 17:10:10 IOTA integrated the stacking option into Firefly 1.Z.0 wallet

Blockchain platform IOTA released a desktop version of Firefly Wallet 1.Z.0 with IOTA Coin Stacking (MIOTA) feature. Users of the network will receive Shimmer cryptocurrency (SMR) or ASMB as a reward.

MIOTA Staking requires: Install Firefly 1.3.0; Launch the software and go to Staking; Click on the Stake funds option and confirm the operation.

There will be a pre-stacking phase through December 27, after which IOTA will begin paying dividends. Walkers will receive 1 SMR or 0.000004 ASMB every 10 seconds for each MIOTA coin. The tokens will transfer after the value of the reward reaches at least 10 million SMR or 1 ASMB. The total stacking period will last for 90 days. Open / Comment

2021-12-23 13:48:02 Astra Protocol raises $9 million for decentralized compliance

Astra's initiative aims to provide DeFi smart contracts with a fully decentralized compliance layer that offers both AML and KYC capabilities. In addition, the compliance layer can help address any real compliance issues with the help of different but well-known law firms.

Astra Protocol co-founder Arthur Ali commented:

"ASTRA is the key to DeFi's future. It will allow us to open the next avenue of growth in the industry, allowing for more interoperable practices in many countries and ensuring the continued participation of large traditional organizations. Our globally patented technology will allow DeFi to continue its growth seamlessly, while increasing regulatory confidence without sacrificing decentralization." Open / Comment