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2022-09-30 13:00:06 ​Gemini wants to boost GUSD stablecoin volume in MakerDAO

Gemini has submitted a proposal on the MakerDAO forum to boost the adoption of the Gemini dollar (GUSD) stablecoin in the latter’s ecosystem by paying a fixed yield on the GUSD balance in MakerDAO’s vaults.

Gemini co-founder Tyler Winklevoss submitted the proposal on Thursday, detailing a three-month marketing incentive plan.

The proposal seeks to grow the volume of the GUSD balance in the MakerDAO PSM, which is currently at about $24 million based on this Dune Analytics dashboard. PSM refers to the peg stability module that allows users to mint DAI by swapping any MakerDAO-accepted collateral. The PSM is also useful for maintaining DAI’s peg to the U.S. dollar.

As part of the scheme, the proposal states that Gemini will pay a fixed annual interest of 1.25% on the total GUSD in the PSM vault. The annualized fixed rate will be evaluated and paid on a monthly basis. A condition of the payment is that the average GUSD balance in the vault is more than $100 million on the last day of the month. The GUSD volume in the vault rising to $100 million means that users are depositing GUSD to mint DAI.

The proposal stated that Gemini will credit MakerDAO in GUSD once every month for a three-month period. This incentive will require Maker to create a new entity that will be issued an account with Gemini to receive the payments. The Maker entity will also have to go through know-your-customer verification processes. MakerDAO’s governance can also choose to move the funds from this entity to its treasury. Open / Comment

2022-09-28 13:28:03 ​​Ethereum PoW token fell by more than 20% in one day

The price of the Ethereum PoW (ETHW) hardforward token fell by more than 20% overnight. It fell from $12.19 to $9.66, according to Coingecko. As of Sept. 26 at 4 p.m., the token is trading at $9.8, the cryptocurrency has a market capitalization of about $1.4 billion and a daily trading volume of $237 million.

Since September 15, when Ethereum's core network switched to the PoS protocol and the blockchain's PoW hardfork was launched, the coin's price has dropped from $29 to $4.31 within 5 days. Last weekend, the token showed growth and reached the mark of $13.58, after which it began to decline again.

The new decline occurred despite the fact that one of the largest trading platforms KuCoin announced the listing of the token and the start of trading in pairs to USDT. In a separate announcement, the platform announced that the ETHW/USDT pair had been added to the platform's trading bot. Open / Comment

2022-09-26 19:41:12 ​While the US Dollar Tramples the Euro, Pound and Yen, Russia’s Ruble Skyrockets Against the Greenback

While the U.S. dollar has soared in value against a basket of worldwide fiat currencies, Russia’s ruble climbed 4.5% against the greenback this week. During the first week of September, Russia told the press China would pay for natural gas with rubles and yuan. Moreover, Switzerland’s imports of Russian gold reached a high not seen since April 2020.

This week the U.S. Dollar Currency Index (DXY) skyrocketed to new heights leaving a great number of fiat currencies worldwide badly bruised. For instance, two days ago, the European Union’s euro tapped a 20-year low against the U.S. dollar dropping to $0.973 on Friday.

Presently, the euro is even lower at $0.9690, and it is down 2.82% against the greenback during the past 30 days. 30-day statistics indicate the yen is down 4.72%, the sterling pound shed 8.17%, and the Canadian dollar lost 4.78%. The Chinese yuan breached a 7:1 exchange rate against the U.S. dollar for the first time in two years.

However, Russia’s native fiat currency the ruble has been more resilient this year, and it started to see gains a month after the start of the Ukraine-Russia war. Toward the end of June, Russia’s ruble tapped a seven-year high against the U.S. dollar, and at the time economists said “don’t ignore the [ruble’s] exchange rate.” Open / Comment

2022-09-24 18:20:25 AMAZING NEWS

Leading fan token platform Bitci.com’s mainnet coin Bitcicoin will be listed on Huobi !

Deposit: 09.28.2022 1 PM (UTC)
Listing Date: 09.30.2022 10.00 AM (UTC)
Withdrawal: 10.01.2022 1 PM (UTC)

BİTCİCOIN

- Main net coin of Bitcichain network
- It binds all products and services offered in the Bitci Ecosystem
- Tokens of each project running on Bitcichain may easily be converted to Bitcicoin, may be traded in Bitcicoin Market or other markets on different exchanges
- Bitcicoin is tradeable as itself and for to buy fan tokens and Bitcicoin is tradeable as itself and for to buy fan tokens and It gonna be used in NFT and gaming project
- Its value is determined with current and future fan token projects developed on Bitcichain.


BİTCİCHAIN

- It is the blockchain infrastructure of Bitci Teknoloji that develops private brand tokens for companies and institutions
- Fan tokens of sports clubs such as Spain National Football Team, Brazil National Football Team, Rangers Football Club, MOTOGP, McLaren are developed over Bitcichain blockchain network.
- Loyalty tokens are created on Bitcichain for companies.
- Businesses can distribute the tokens to their users as a reward, discount or prepaid over the personalized digital accounts offered by Bitcichain.
- Bitcichain offers blockchain based smart contracts which are more secure and traceable= way in keeping your account in logistics & procurement
- Bitcichain supports web3 projects on Gaming,NFT's and Metaverse

To explore this amazing blockchain company

BİTCİCOIN IS AVAILABLE ON:

- XT
- MEXC
- LBank
- Big One
- Probit
- Biconomy
- Finexbox
- Bittrex
- Bitget
- BitMart
-Gate.io

FOLLOW US ON SOCIAL MEDIA

TWITTER: @bitcichain Open / Comment

2022-09-23 20:30:00 Celebrate 10m Users with Bybit

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2022-09-23 11:36:11 ​​Cardano Successfully Completes the Vasil Hard Fork

After the Cardano team triggered all three “critical mass indications” necessary for the upgrade, the Cardano Vasil update was successfully accomplished. Additionally, the update has included a number of enhancements and, as expected, will make Cardano more scalable. The first update has been finished, and the next is slated for the 27th of September.

Vasil hard fork will improve a number of facets of the Cardano network’s blockchain. Cardano developer Input Output Hong Kong (IOHK) claims in a blog post that the blockchain’s user experience would be enhanced and development time shortened because of Vasil-enabled apps. It will reduce transaction costs and increase the network’s capacity to handle more users.

Finally Delivered
Moreover, Vasil hard fork aims to strengthen connections and the network as a whole. Cardano’s much-anticipated addition of smart contract functionalities was made possible via the Alonzo hard fork. The first Cardano hard fork, which went live on September 12, 2021.

More advanced CIP methods, UTXO (unspent transaction output) support, and Hydra integration are only a few of the new features introduced by Vasil. The Vasil hard fork proposes CIPs with the goal of expanding the capabilities of the Plutus smart contract language while maintaining its ease of use.

The Vasil upgrade was named after the late member of the Cardano community Vasil St. Dabov. It brings in a wide variety of network capabilities. Its throughput, efficiency, and block delay speeds should all improve after this upgrade.

Diffusion pipelining, an innovative technological approach, is one example. As a result, block propagation times are improved, which ultimately results in more data being sent per second. Meanwhile, Plutus, Cardano’s native smart contract language, is also receiving improvements. Open / Comment

2022-09-21 12:09:16 ​Philippines-Based I-Remit Advances Its Use of Ripple’s On-Demand Liquidity (ODL) Solution for Internal Treasury Payments

The company has expanded its use of Ripple’s ODL after experiencing the potential of the payment solution.

I-Remit, a Philippines-based non-bank remittance service provider, has announced that it has expanded its use of Ripple’s On-Demand Liquidity (ODL) solution to enhance its cross-border treasury flow.

According to a recent announcement made by Ripple, I-Remit is among the early adopters of ODL and has been using the payment solution for cross-border remittances in real-time into the Philippines since 2018.

Following its adoption of Ripple’s ODL in 2018, I-Remit had first-hand experience of the potential of the payment solution into one of the largest remittance destinations globally and has chosen to expand its use of ODL. Open / Comment

2022-09-19 15:52:09 ​Argentine Inflation Skyrockets to Almost 80% YoY as Crypto Adoption Grows

Argentine inflation numbers were revealed last week, with the interannual Consumer Price Index (CPI) registering record levels reaching 78.5%. This puts the country second only to Venezuela in Latam in terms of high inflation, with prices rising almost 8% during August, hitting the pockets of Argentines. According to a survey by Bitso, this has caused Argentines to explore cryptocurrencies as a way of keeping their purchasing power via stablecoins.

Argentine Inflation Keeps Growing, Expected to Reach 100% This Year
Inflation is becoming a big problem for some countries in Latam whose economies have been hit by the current economic downturn. Argentina, one of the biggest economies in the area, is now facing raging levels of inflation that are affecting the pockets of citizens.

The most recent CPI report revealed that prices rose by 7% MoM (month-over-month), with these numbers being second only to Venezuela’s inflation, which has reached well over 100% YoY (year-over-year).

Food and drink prices rose 7.1% in August, while other items marked a sharper increase, like clothing and appliances. Accumulated inflation numbers reached 78.5%, the highest since 1991 amidst a climate of economic and political uncertainty, with the country having three economy ministers in less than three months.

The Argentine peso is one of the fiat currencies that has suffered the most in Latam, losing more than 25% against the dollar when considering the official rate, and almost 50% of its value taking the unofficial “blue” exchange rates as reference. Open / Comment

2022-09-17 13:53:23 ​Ukrainian Supermarket Chain to Accept Cryptocurrencies Through Binance Pay

Varus, a retailer with over 100 supermarket stores across Ukraine, has partnered with the world’s leading digital asset exchange, Binance, to launch cryptocurrency payments. Customers will now be able to order groceries online and cover the bill through a Binance Pay wallet.

Binance, the largest cryptocurrency exchange by daily trading volume, and Ukraine’s supermarket chain Varus have announced a partnership that will allow Ukrainian shoppers to purchase food and other goods online with digital coins.

Using the Binance and Varus apps, customers will be able to enjoy instant crypto payments and fast delivery in nine Ukrainian cities: the capital Kyiv, Dnipro, Kamianske, Kryvyi Rih, Zaporizhzhia, Brovary, Nikopol, Vyshhorod, and Pavlograd.

To take advantage of the payment option, crypto owners will have to download and install the Binance app on their Android or iOS devices. Then, they can go to the Varus website, select the products they want to buy and send the digital money from the Binance Pay wallet. Open / Comment

2022-09-14 10:55:03 ​​Crypto Lender Maker Turns to Staked Ether to Reduce USDC Influence

Crypto lending platform Maker, the largest decentralized finance (DeFi) protocol, doubled the debt ceiling of its staked ether (stETH) vault this week as it looks to reduce its reliance on centralized stablecoins after Centre, the issuer of USD coin (USDC) blacklisted some 38 addresses linked to sanctioned crypto tool Tornado Cash.

More than 34% of all assets locked on USDC are locked on Maker and the tokens are the single-largest source of collateral that backs DAI, Maker’s native decentralized stablecoin pegged to U.S. dollars. Approval of the proposal to raise the ceiling to $200 million allows more stETH to be deposited against DAI, reducing USDC’s influence.

This role of USDC in the system has led to criticism for DAI among market observers, with some even terming it “wrapped USDC” – or an alternative for USDC tokens. Erik Vorhees, the founder of crypto trading platform ShapeShift, has publicly appealed for Maker to start “unwinding its USDC collateral immediately.”

“There’s a natural tension between centralized stablecoins and projects like DAI that want to be permissionless and uncensorable,” Maker founder Rune Christensen said in a CoinDesk TV interview in August. The decision to lean on USDC allowed Maker to grow and focus on an easy user experience, but came with tradeoffs that are now fully visible, he said. Open / Comment