NFT News

2021-10-27 12:58:11 Ampleforth integrates with Avalanche to introduce an alternative stablecoin

Ampleforth's Daily Adjusted Offer Levels balancing mechanism measures the value to accumulate users' tokens, as opposed to the traditional method of tracking price volatility. These system rules are then encoded into Ethereum using smart contracts.

For example, if a user makes a speculative prediction that bitcoin (BTC) will reach $100,000 by the end of the year and it comes true, they will be given 5 AMPL tokens. However, if the lead asset does not reach the stated goal, the five tokens will be deducted. In this sense, if the AMPL ecosystem grows, the user gets more tokens, and vice versa.

Providing reliable consistency in price levels and flexibility in the issuance mechanism, while still being an automated decentralized model, implies that AMPL could be an alternative challenger to the beaten-down stablecoin model. Open / Comment

2021-10-07 19:29:39 TVL in DeFi on various blockchains is approaching 200 billion

While the crypto-economy showed decent growth during the first week of October, a number of decentralized finance (DeFi) tokens saw huge gains. In addition, the total value recorded in DeFi's records rose from $171 billion to $195 billion in the past two weeks, an increase of more than 14%.

The rapid growth in DeFi tokens has pushed the total value locked in in Dapps to $195 billion, Axie Infinity (AXS) and Shiba Inu (SHIB) are seeing maximum gains.

All digital currency markets are seeing some growth this week, with all DeFi coins and smart contract pluftorm tokens up significantly over the past seven days. Weekly numbers show that crypto-assets such as QTUM are up 42%, Terra (LUNA) jumped 37%, Binance Coin (BNB) is up 23%, and Solana (SOL) has added 22% in value. Open / Comment

2021-10-02 09:31:39 Multi-chip cryptocurrency wallet XDEFI has raised another $6 million

XDEFI Wallet, a multichain cryptocurrency wallet that comes as a browser extension, has raised $6 million in a new round of funding, The Block reports. XDEFI plans to hire more developers to add support for Avalanche, Arbitrum and Solana.

XDEFI co-founder Emile Duby said it was a Series A funding round, which was implemented through a combination of SAFT (a simple future token agreement) and stock sales. The round was led by Mechanism Capital, with participation from DeFiance Capital, Alameda Research, Sino Global Capital, Animoca Brands, CoinGecko and Morningstar Ventures, among others.

XDEFI plans to expand its current 27-person team by hiring additional engineers and a head of growth. The wallet also plans to improve exchange functionality between Layer-1 and Layer-2 blockchain networks. Open / Comment

2021-09-23 14:03:05 What do experts think about the constant hacking of DeFi projects?

Usually hacks of DeFi-projects occur through exploitation of vulnerabilities allowed in smart contracts by developers, explained Dmitry Volkov, technical director of CEX.IO international crypto-exchange. According to him, hackers find these vulnerabilities and use them to withdraw funds, i.e., it happens due to opportunities that are already embedded in smart contracts.

The expert gave as an example the hack of BurgerSwap project, which took place in the spring of this year. Then the attacker used a vulnerability that allows to make repeated token exchanges without updating the reserves necessary to calculate the liquidity available to the user, explained Volkov.

With the development of the decentralized finance market we should expect the growth of hacker attacks on new DeFi projects, predicted Volkov. Open / Comment

2021-09-11 18:21:30 Koala Finance Changes Brand to Kyte One

By 4:30 p.m. worldwide coordinated time on Monday, Sept. 6, The Koala Finance will be renamed Kyte One. The developers state that they wanted to "change the brand to something more useful, future-oriented and consistent with our products and ideology."

Briefly, their reasons for abandoning the cuddly koala bear are as follows:

Animal names have come to be associated with memes-money and cheating.
People didn't appreciate the * .finance domain.
The name "Koala" didn't fit their roadmap.
They wanted to remove "the."
There were other "Koala", "Coala" and similar projects.

Yes, if you were on the list of successful winners of The Koala Finance airdrop, you will still get tokens, only they will be called KTE, not KOALA. The value of a Kyte token compared to a Koala token will be 1:1. Open / Comment

2021-09-02 10:58:59 Solana is ready to take the place of DOGE

Solana (SOL) was the growth leader in the top 30 cryptocurrency market in yesterday's session, adding 15% amid a general decline in the capitalization of digital assets. The negative trend will allow SOL to take the 7th place, overtaking DOGE coin, which lost its attractiveness after the developers' decisions to return to the abandoned project.

Solana's active purchases against the backdrop of other cryptocurrency sales are explained by the upcoming Ignition softfork, properly handled by the developers.

DOGE, unlike Solana, has been losing value since the announcement of the Dogecoin Foundation's reanimation, closed back in 2014. Despite the developers' good intentions and the inclusion of Vitalik Buterin with Ilo Musk, investors and speculators are selling off coins with a dog meme. They believe that the creators of DOGE have more commercial interest than a desire to actually develop this project. Open / Comment

2021-08-23 13:33:41 Cryptopayments will appear in 85,000 retail outlets in Switzerland

Zurich-based crypto-financial service Bitcoin Suisse is partnering with payments company Worldline to introduce instant payments in bitcoin (BTC) and Ethereum (ETH) for 85,000 merchants in Switzerland.

To do so, merchants must download the WL Sgurto Paouments mobile app or install a payment plugin on their sites, allowing customers to pay through the usual mobile cryptocurrency wallet apps.

According to Worldline, immediately after payment confirmation, cryptotransactions will be converted into Swiss francs, reducing volatility.

Bitcoin Suisse executive director Arthur Veyloian said:

"This is a historic milestone for the adoption of cryptocurrency in Switzerland and beyond... This move proves once again that Switzerland is a leader in collaborative innovation and a pioneer in the cryptocurrency and blockchain industry. Open / Comment

2021-08-14 09:32:43 Lattice Exchange provides search for unseen early-stage projects

Lattice Exchange, the automated market maker for the DeFi marketplace, has launched a new product that aims to allow entrepreneurs to publish their tokens and users to more easily participate in early-stage projects.

The new platform, called Lattice Launchpad, is described as a "one-stop shop for blockchain entrepreneurs" to get their projects recognized by the community. Users can participate in private sales by buying LTX, Lattice Exchange's native cryptocurrency. LTX owners also have the opportunity to participate in the management of newly listed projects.

Lattice Exchange has also announced that it will soon move to Hypergraph Network Constellation, which is said to offer lower fees and higher scalability potential. Token projects built on other networks can still participate in Launchpad, the company said. Open / Comment

2021-08-06 15:18:55 Sense Finance raises $5.2 million

Sense Finance, the company behind the upcoming Sense protocol, has raised $5.2 million in an initial funding round led by Dragonfly Capital with Robot Ventures and Bain Capital.

The protocol allows trading of fixed interest rates and future yields on all income assets in decentralized finance (DeFi) markets by separating assets into principal and income components and packaging them as "Zeros" and "Claims." These packages allow users to earn or borrow at a fixed rate and trade with future returns.

According to Kenton Prescott, yield curves, which are considered critical infrastructure in traditional finance, are poorly understood in decentralized financial markets and are key to DeFi's long-term maturity. Open / Comment

2021-08-02 13:00:21 Tether denies information about stopping the release of USDT

Tether continues to release USDT stabelcoin, albeit on a smaller scale. This was announced by Paolo Ardoino, CTO of the platform.

Ardoino commented on the observations of journalist Colin Wu, who stated that USDT has not been released for two months in a row.

"USDT's share of the stabelcoin market has fallen to an all-time low of just 57.38%. The other stabelcoins continue to gain market share. USDC's share rose to 24.39% and BUSD's share rose to 10.9%," Wu wrote.

Tether's chief technology officer responded by pointing to yesterday's transaction to issue 100 million UDST on the Tron blockchain.

According to Coin Metrics, USDT issuance did plateau in early June.

According to CoinMarketCap, USDT circulating volume fell from $62.4 billion to $61.8 billion last month. Open / Comment