[Lisbon, May 18th] — Tomasz Wojewoda, the former BNB Chain Head of Growth, joins Match Chain as Chief Strategy Officer. With a distinguished career spanning over 20 years as a Founder and CEO, and with insights earned through leadership roles at renowned projects from Microsoft to Chainlink, Mr. Wojewoda has established themselves as a cloud solution and Web3 infrastructure expert whose knowledge will be invaluable as Match Chain continues to position itself as a leading Layer 1 blockchain. 

In their new role as Chief Strategy Officer, Tomasz will be integral in shaping the future of Match Chain, driving the launch of the chain and helping the company reach new types of users. He recognizes Match Chain’s leadership in onboarding Web2 users and is enthusiastic about guiding the platform’s growth.

“Match is differentiated because of its undisputed leadership in acquiring Web2 users,” said Tomasz. “I am excited to help Match launch its chain and ecosystem.”

At Match Chain, Tomasz will leverage his extensive experience launching world-class go-to-market initiatives to impact ecosystem growth and to enhance the platform’s strategic positioning within the rapidly evolving blockchain sector. His proven track record at major cloud technology providers, combined with his significant contributions to the adoption of Web3 technologies, positions Tomasz ideally to spearhead Match Chain’s strategic initiatives.

About Match Chain

Match Chain is an extensively scalable blockchain based on the Proof-of-Stake (PoS) consensus mechanism. It seamlessly integrates with the Ethereum Virtual Machine (EVM), ensuring complete compatibility and interoperability. We envision a future where individuals have full autonomy over their digital presence, creating a decentralized Web3 ecosystem where data ownership is democratized, privacy is a choice, and users are empowered to leverage their data for personal, social, and economic advancement.

About Match Hub

Match Hub offers a comprehensive Decentralized Identity (DID) solution, enabling seamless access across various blockchains and Web2 platforms. Using DIDs, Match Hub collects sophisticated analytics without compromising user privacy. This data helps developers and businesses gain insights into user behavior, allowing for personalized experiences and strategic decision-making.

About Match ID

We stand firm on the idea that privacy and control over your data, assets, and identity are basic human rights. MatchID ensures your data is securely stored and protected, giving you the power to decide who can access your data and how it is used.

For more information on the Match chain, what they do and how to connect with Match, visit: Website | DevDoc | Twitter | Discord | Telegram | Medium | Mirror | Reddit

Contact Details:

Team@matchain.org

The post Match Chain Strengthens Leadership Team with Blockchain Veteran Tomasz Wojewoda as Chief Strategy Officer appeared first on Metaverse Post.

Retik Finance (RETIK) emerges as a beacon of innovation and promise as the crypto market gears up for a transformative phase. With its official listings scheduled for May 21, 2024, RETIK is poised to make a significant leap toward its ambitious goal of securing a spot among the top 100 cryptocurrencies by the end of the same year. This comprehensive overview will delve into Retik Finance’s revolutionary features, market confidence, and why it’s positioned for meteoric growth in the coming months.

Retik Finance (RETIK): The DeFi Powerhouse

Retik Finance (RETIK) represents a paradigm shift in decentralized finance (DeFi), offering cutting-edge solutions to revolutionize global transactions. From its innovative virtual DeFi debit cards to its AI-powered peer-to-peer lending platform, RETIK is redefining the way users interact with financial services. Its early utility launches and comprehensive offerings have garnered widespread attention and laid the groundwork for its imminent ascent into the top 100 cryptocurrencies.

Unveiling the Game-Changing Virtual DeFi Debit Card

At the heart of Retik Finance’s ecosystem lies its virtual DeFi debit card, a groundbreaking innovation that promises unparalleled convenience and security. This feature is poised to democratize financial access and streamline transactions for users worldwide by bridging the gap between traditional finance and the crypto world. Its early launch, a year ahead of schedule, demonstrates RETIK’s commitment to driving innovation and setting new standards in the industry.

Crypto Payment Gateway and AI-Powered Lending

Retik Finance’s smart crypto payment gateway and AI-powered lending platform are complementing its virtual debit card. These features offer users a seamless and efficient transaction experience, supported by advanced technologies that optimize interest rates and ensure transparency. By leveraging AI algorithms, RETIK is paving the way for fair and accessible financial services that cater to the diverse needs of its users.

Retik Finance (RETIK) Launch expected on the 21st of May

Retik Finance’s launch date announcement has stirred up immense excitement in the crypto sphere. Scheduled for May 21, 2024, at 12:00 PM UTC, the unveiling will take place simultaneously across various exchanges and Uniswap. This news has generated significant buzz among enthusiasts, driven by the project’s potential for widespread adoption and its anticipated price movement, sparking discussions about its impending token offering.

Market Confidence and Strong Presale Performance

Retik Finance’s successful presale, which raised over $32 million, underscores the market’s confidence in the project’s potential. Investors and enthusiasts alike are eagerly awaiting the official listings on May 21, recognizing RETIK as a leading contender in the DeFi space. The funds raised during the presale will be instrumental in fueling RETIK’s growth, expanding its reach, and enhancing its services to meet the evolving demands of its user base.

Projections and Expectations for RETIK

Analysts have been bullish on RETIK’s prospects, predicting significant price appreciation and market capitalization growth in the coming months. With projections of reaching $1 by Q2 2024, RETIK is poised to make waves in the crypto market and solidify its position among the top 100 cryptocurrencies. Factors such as its early utility launches, strong community support, and comprehensive service offerings contribute to this optimistic outlook.

Investing in RETIK: Opportunities and Considerations

For potential investors, RETIK presents a compelling opportunity to participate in the next wave of financial innovation. However, as with any investment, it’s essential to conduct thorough research, assess risk factors, and consider one’s financial goals before investing. While RETIK’s potential for growth is undeniable, prudent investment strategies and risk management practices are crucial for maximizing returns and mitigating downside risks.

Conclusion

As Retik Finance (RETIK) prepares for its official listings on May 21, 2024, the crypto community eagerly anticipates its ascent into the top 100 cryptocurrencies. With its groundbreaking features, strong market confidence, and ambitious goals, RETIK is poised to impact the DeFi landscape and redefine the future of finance. As investors and enthusiasts alike await the listings, the stage is set for RETIK to shine and usher in a new era of decentralized finance.

Visit the links below for more information about Retik Finance (RETIK):

Website: https://retik.com

Whitepaper: https://retik.com/retik-whitepaper.pdf

Twitter: www.twitter.com/retikfinance

Telegram: www.t.me/retikfinance

The post Retik Finance (RETIK) Will Become a Top 100 Crypto by the End of 2024, Listings on May 21 appeared first on Metaverse Post.

Zug, Switzerland, May 17th, 2024, Chainwire

Alephoria invites web3 users to the Aleph Zero ecosystem with an interactive initiative of campaigns as projects launch

Aleph Zero–the privacy-oriented layer 1 blockchain–is gearing up for a surge of new users with its Alephoria campaign. Newcomers can look forward to airdrops and other promotional activities as they join the expanding ecosystem. 

Dozens of teams are actively developing groundbreaking solutions on Aleph Zero, spanning DeFi, web3 identity, liquid staking, RWA tokenization, content creation, and gaming, among other areas. At the heart of this innovation is Aleph Zero–a blazingly-fast blockchain that enables all these advancements through its modular and compliant approach to ZK privacy. 

The network offers instant transaction finally with subsecond speeds, powered by AlephBFT, its proprietary consensus mechanism that integrates Directed Acyclic Graph (DAG) technology with Proof of Stake. Moreover, its data confidentiality engine skillfully balances transparency with data protection, aligning with AML/CFT regulations. These fundamental features make Aleph Zero an attractive platform for users, developers, enterprises and regulators worldwide.

Adding new utility to AZERO, the native coin

AZERO, the native coin of the Aleph Zero ecosystem, facilitates leading web3 developers in crafting new products and generating sustainable value, and unlocks a world of benefits for its holders through unique campaigns and rewards. 

Staking AZERO offers users the opportunity to earn rewards directly in AZERO coins for participating in the network. For a quick start to staking, users can refer to the concise guide available now. 

Additionally, AZERO serves as users’ gateway to Alephoria, offering them the chance to participate in significant ecosystem-wide airdrop campaigns from various projects. 

Common Drops–the first major airdrop campaign

Launching alongside Common AMM—the first mainnet release from Aleph Zero’s DeFi platform, Common—the Common Staking Drops campaign is set to begin on May 21st. Common AMM, a Uniswap-like decentralized exchange, offers a user-friendly trading experience, built-in bridging between Aleph Zero and Ethereum, and incentives for users.

The campaign will reward participants who are active in staking, both before and throughout the duration of the campaign, with the rewards increasing the longer one participates, based on the daily average of their stake during each round.

Simultaneously, Common LP Drops will start rewarding users engaged in liquidity farming. These Drops are non-transferable initially but will be redeemable for CMN—the platform’s token—once it launches, aligning with Common’s vision of enhancing trading efficiency and confidentiality across its multi-chain DeFi suite.

Experience Alephoria

The ecosystem is rapidly expanding–and Alephoria is your key to getting the most out of it. A flurry of fresh Alephoria campaigns are either active–or lining up to launch in the near future. These include:

DRKVRS–a Web3 multiplayer action RPG game with innovative mechanics, set in a dystopian and brutalist world. Users ca sign up for their presale whitelist at TRANSRAAD DAO.

Abax–a unique fair lending protocol. The Stakedrop where stakers have already reserved $4M ABAX–or 20% of the tokens allocated for the first phase of the public contribution is in the last stages.

Upcade–a web3 gaming hub powered by AZERO. Users can participate in the Block Spector Tournament–an FPP game tournament with 70,000 AZERO rewards pool.

Kintsu–a liquid staking protocol. The Testnet implementation is already live while the OG roles can be already obtained by early users, leading to potential airdrops.

The Aleph Zero x Galxe Takeover–Users are invited to know the Aleph Zero ecosystem through on-chain questing and potentially win additional rewards.

The Commoners–Users can get a unique NFT from The Commoners collection for AZERO holders.

Go to alephoria.com to learn more about the initiatives!

About Aleph Zero

Aleph Zero is a layer 1 blockchain engineered for speed, data confidentiality, and ease of development. It achieves efficiencies akin to conventional web2 systems, upholds rigorous standards for data protection via ZKP and MPC, and offers a comprehensive toolset for WASM-based web3 development in Rust. Aleph Zero’s versatility is highlighted by over 40 use cases being actively developed, showcasing its adaptability across various sectors and applications. These use cases are part of an engaged community and growing ecosystem of web3 applications that are supported by Aleph Zero programs.

For more information, users can visit Aleph Zero’s website or follow Aleph Zero’s Twitter.

Contact

PR SpecialistAna LezamaAleph Zeroana@serotonin.co

The post Aleph Zero Launches Alephoria: Exciting Airdrops, Tournaments, and Rewards Await Users appeared first on Metaverse Post.

Fiat-to-cryptocurrency payment service provider Alchemy Pay announces it has partnered with Bitcoin restaking blockchain BounceBit (BB) to offer its users convenient deposit and withdrawal solutions. This collaboration aims to streamline the acquisition of BB, as well as BTC, FDUSD, and USDT tokens, while also bolstering support for the Bitcoin restaking ecosystem.

In the upcoming phases of integration, users will gain access to Alchemy Pay through the application store featured on BounceBit Club, enhancing connectivity between the platforms.

BounceClub is an on-chain Web3 platform that enables users to customize, deploy, and interact with decentralized applications (dApps). Owners of BounceClub have the flexibility to customize their clubs by choosing from a selection of plugins offered on the BounceBit App Store, which boasts a diverse array of plugins developed by ecosystem partners and builders, enabling its owners to integrate Web3 applications without requiring coding skills. Alchemy Pay will be among the readily available applications, offering seamless ramp solutions for club members.

BounceBit functions as a Layer 1 network and utilizes a dual-token system. This approach integrates the security aspects of Bitcoin with complete compatibility with the Ethereum Virtual Machine (EVM), enabling validators to stake BTC and BB tokens. The platform is backed by cryptocurrency exchange Binance’s venture capital arm, Binance Labs, and has recently launched its mainnet.

Announcing our collaboration with @bounce_bit, the CeDeFi and BTC Restaking chain! Through this alliance, #AlchemyPay will provide easy ramp solutions for #BounceBit users, simplifying the process of acquiring $BB , BounceBit's native token, along with other popular tokens, to… pic.twitter.com/qXF6qfkZtS

— Alchemy Pay|$ACH : Fiat-Crypto Payment Gateway (@AlchemyPay) May 17, 2024

Alchemy Pay Integrates ACH Token With Binance Pay To Expand Crypto’s Practical Applications

Founded in 2017, Alchemy Pay offers a variety of services, such as On & Off-Ramp solutions, non-fungible token (NFT) checkout, cryptocurrency cards, cryptocurrency payments, and local mobile wallets, supported by 50 fiat currencies. It serves users across 173 countries and provides access to more than 300 fiat payment channels.

Recently, Alchemy Pay has incorporated its native token, ACH, as a payment option into Binance Pay, the cryptocurrency payment system developed by Binance. This integration enables users to utilize ACH for payments at both online and offline merchants associated with Binance Pay.

The post Alchemy Pay Teams Up With BounceBit To Support Bitcoin Restaking Ecosystem appeared first on Metaverse Post.

Spearheaded by EigenLayer, liquid restaking is emerging as a major 2024 trend in the DeFi space. By reutilizing locked tokens in third-party infrastructure protocols on top of the main network, ETH holders can boost the capital efficiency of their assets and maintain the flexibility that comes from retained liquidity while contributing to Ethereum’s ecosystem growth and decentralization.

In this article, we will explain how the creation of EigenLayer became a game-changer for crypto investors and give examples of some of the top strategy managers built on top of it.

Let’s dive in!

Staking and Liquid Restaking Explained

To understand this concept, one must first grasp the basics of traditional and liquid staking. We’ll begin with the fundamentals.

Traditional staking

To put it briefly, it’s a mechanic where one deposits a specified amount of tokens onto the Beacon Chain smart contract. These assets act as a security deposit, allowing $ETH holders to be a part of the Ethereum PoS consensus and contribute to network security by validating blocks. For their pivotal role in ensuring network operation, stakers are awarded rewards for each block they create.

However, traditional staking has a high barrier to entry for ordinary users. Not only does it require maintaining a validator, but it also has minimal entry requirements (e.g., 32 ether on the Ethereum network).

Liquid staking

Protocols like Lido, Rocket Pool, Stader, etc., solve the entry barrier problem by providing liquid staking crypto services. They allow anyone to participate in PoS consensus without the necessity to maintain a validator node or comply with minimal entry requirements. They offer users Liquid Staking Tokens (LSTs) as a “receipt” for their positions, which may then be used further for various DeFi farming strategies.

Restaking

In addition to contributing to main network security (like staking in Ethereum network validators), users can leverage their assets to secure third-party protocols and generate an additional revenue stream from this security provision, boosting the capital efficiency of their assets.

Liquid restaking

And now, some protocols have taken this concept one step further. They provide their users with Liquid Restaking Tokens (LRTs), allowing them to retain all staking yields and the flexibility that comes with retained liquidity while boosting the yield potential of their assets.

Liquid Restaking on EigenLayer

An innovative protocol on Ethereum, EigenLayer has introduced a new crypto primitive – restaking and LRTs. It was built as middleware that connects stakers directly with infrastructure developers, allowing the latter to leverage Ethereum’s security layer without having to maintain their own validators.

This is done by hosting a variety of Actively Validated Services (AVSs), essentially any infrastructure services seeking to incorporate Ethereum’s security. Cross-chain bridges, Rollups, and keeper and oracle networks are some examples of such services.

$ETH and LSTETH holders can bring their assets to Eigenlayer and simultaneously contribute to Ethereum’s consensus and third-party protocol security. However, this creates additional risks associated with slashing. Higher risk necessitates higher returns, so restakers enjoy additional yields from fees of AVSs they help to secure.

As an incentive to start contributing, you receive points for their contribution to its ecosystem. The anticipation for the EigenLayer Airdrop based on accumulated points has started a “Points-farming season,” contributing to its skyrocketing TVL as users aim to receive an additional yield on their staked ETH from the airdrop.

The value proposition is simple – restake ETH to earn enhanced yield and accumulate bonus loyalty points while retaining the liquidity of your assets.

It started accepting deposits in mid-2023 and, as of mid-May 2024, has accumulated almost $15b to allocate to its Operators and AVSs.

Source: DefiLlama

To boost yields, you can delegate your staked ETH to Operators that then provide it to various AVSs or register and delegate directly to AVSs themselves, effectively becoming Operators.

How Do You Earn on EigenLayer Using Liquid Restaking Protocols?

The complexity of managing positions between Operators has given birth to a new type of DeFi protocols – liquid restaking strategy managers. They abstract complexities of manual operations, enable simple collaboration of LST holders and AVS node operators, and provide extra gains, EigenLayer points, and their own loyalty points. 

Let’s explore deeper into some of these applications and offer you an initial peek into potential future investments. Here is a list of the top protocols in terms of Total Value Locked (TVL).

EtherFi

Originally a protocol for liquid staking, it has partnered with Eigenlayer and is now the largest (in terms of TVL) player in its ecosystem. You simply deposit your $ETH to EtherFi, and the yields can be automatically restaked and boosted. Doing so, you receive all the underlying rewards from staking and freshly minted $eETH. This LST can be natively restaked to earn bonus rewards, traded, or used for yield generation in the DeFi space.

As of mid-May 2024, EtherFi has accumulated over $4.3b in TVL from 160k+ unique addresses, almost $4b of which is reutilized in other crypto services.

Source: Dune.com/EtherFi

EtherFi provides a ~3% ARP, has captured almost 1.2b EigenLayer points, and distributed over 800b of its own loyalty points.

Renzo

Backed by Binance, this protocol is a cross-chain EigenLayer strategy manager with the goal of providing the best risk/rewards strategies. It simplifies the intricacies of restaking and facilitates greater returns compared to traditional staking.

Renzo accepts deposits in $ETH or its LSTs like $wBETH or $stETH and issues the $ezETH LRT representing initial holdings. Renzo produces a ~3.2% APR as well as bonus incentives in the form of points.

Since its launch in late 2023, Renzo has secured almost $3b in TVL from approximately 54.5k unique depositors and distributed 1.34b EigenLayer points and 2.91b ezPoints among them.

Source: Dune.com/renzoprotocol

Puffer

Initially launched as a PoS validation platform, it has emerged as a significant player in the landscape thanks to its native restaking option powered by EigenLayer. Backed by a $120k Ethereum Foundation Grant, it offers a model of secured earnings thanks to a unique algorithm to prevent slashing. Puffer promises to supercharge yields from $ETH , $stETH, and $wstETH. Users are issued Puffer’s native LRT (nLRT) – $pufETH, representing cumulative staking/restaking rewards.

Since launching on February 1, 2024, Puffer has already aggregated almost a TVL of $1.35b from approximately 76k unique users by offering them secure and boosted APRs.

Source: Puffer

Kelp DAO

Created by the founders of Stader Labs, it is a multi-chain platform and one of the early adopters of the LRT primitive. Through $rsETH, its LRT, you can continue to participate in DeFi applications while continuing to accrue their staking/restaking rewards. Kelp DAO removed all fees from LST deposits, accepting $ETH and a wide range of LST deposits, including $ETHx, $stETH, and $sfrxETH (and more to come), to participate in securing various web3 infrastructure while earning yields bonus incentives.

At the time of writing, Kelp DAO has over 265k ether from ~ 29k addresses, amounting to approx. $750k in TVL.

Source: Dune.com/maybeYonas

EigenPie 

Magpie, a leading DeFi yield aggregator, has created a SubDAO with a unique approach to managing EigenLayer. They have integrated with Chainlink CCIP to offer cross-chain isolated liquid restaking for a vast range of LSTs. 

When you deposit into EigenPie, specific LRTs are minted that are backed by a single LST rather than a basket of LSTs. This is designed to segregate the risks affiliated with any particular LST.

With nearly 10,000 unique users and a TVL of over $770M, it provides a seamless path to receive stacked stake/restaked rewards.

EigenLayer’s role in revolutionizing the Ethereum ecosystem

With its groundbreaking restaking primitive, EigenLayer allows Ethereum (ETH) holders to generate additional value on their holdings while securing projects. It allows ETH holders to earn yield and future airdrops (points) from multiple projects simultaneously.

In summary, restaking has revolutionized the investment environment, presenting a compelling mix of yields, flexibility, and security for various infrastructure applications. With the introduction of LRTs, investors now have the opportunity to reutilize their staked assets to gain extra returns. Now that ETH and LSTETH holders can provide security to multiple protocols simultaneously, a spurring ecosystem has emerged around EigenLayer that is crucial to the expansion and decentralization of Ethereum.

The post Top 5 Liquid Restaking Protocols Built on Top of EigenLayer appeared first on Metaverse Post.

Despite an extremely bullish first quarter this year, the crypto market has been on the receiving end of a lot of volatility in recent months. For instance, over the past sixty days alone, the industry’s total market capitalization has dipped from $2.9 trillion to approximately 2.36 trillion, representing a loss of over 18%. Similarly, after scaling up to an all-time high (ATH) of $73,500 in March, Bitcoin’s (BTC) price action has been all over the place, with the digital asset dipping as low as $57,000 during the first week of May. 

Similar erratic price movements have also been witnessed in relation to other blue-chip cryptos, including Ethereum (ETH), which, after scaling up to a $4,000 valuation — around the same time BTC achieved its aforementioned ATH —  has continued to stay rangebound between $3,600 and $2,900.

However, amid all these swings, one digital currency that has continued to showcase immense stability and strength is $ZIG, the native token of the Zignaly ecosystem — a cryptocurrency social trading platform that allows users to emulate/implement/share the strategies of expert traders with the touch of a button. 

To elaborate, over the last 12 months, digital assets like Bitcoin, Ethereum, Solana, XRP, and Toncoin have accrued profits of 131%, 65%, 610%, 17%, and 270%, respectively. Meanwhile, $ZIG has been able to muster a yield of over 1,700%.

$ZIG’s value over the past year (source: Coingecko)

Understanding $ZIG’s monumental growth. Is it sustainable?

Since last year, the Zignaly team has been on a tear, announcing several partnerships, project updates, etc., helping $ZIG garner an increasing amount of mainstream traction. 

Earlier in February, the firm announced the launch of Z-Score, an investing tool that evaluates traders’ performance across various metrics like profitability, risk management, service quality, and profit-to-risk balance — all while connecting them with top-performing traders as identified by the system’s native machine learning (ML) and AI algorithms. 

To elaborate, Z-Score dives into a vast dataset of over 25 million past trades to identify the best traders, providing AI-backed insights into their performance. This pivotal development expands Zignaly’s focus beyond just profits, aiming to optimize decision-making and trading performance assessment. With the Z-Score, investors can make seamless investments without uncertainty simply by selecting their desired risk profile.

As can be seen from the chart above, in anticipation of the Z-Score’s launch, $ZIG’s value soared quite dramatically while also helping the platform amass a large number of new users and enabling traders to amass fresh AUMs.  

Most recently, Zignaly’s native blockchain solution, Zigchain, grabbed the attention of crypto enthusiasts worldwide. This is because the firm recently announced a $100 million ecosystem development fund to help bolster its layer-1 network. Simply put, ZIGChain is the world’s first wealth generation infrastructure, bringing previously inaccessible Investment opportunities to the masses.

Lastly, the Zignaly team recently revealed that it was awarded a crypto license in South Africa — equivalent to those issued for fund managers in the traditional finance (trad-fi) arena — helping spur $ZIG’s hype even further. The token’s financial future is also strengthened by Zignaly’s fiscally prudent economic model. The centerpiece of this strategy is the firm’s bi-monthly ‘Buyback and Burn‘ program, which reduces $ZIG’s overall supply by purchasing and subsequently burning the tokens (in an effort to create scarcity and increasing demand.) 

To date, over 30.3 million tokens (valued at approx. $3 million) have been permanently removed from circulation. The program offers tangible advantages, allowing $ZIG owners to become more than just stakeholders but rather direct beneficiaries of the platform’s increasing value — thereby fostering a mutually beneficial relationship that can help ensure the platform’s continued future success.

A look at the future

As more people continue to gravitate toward the use of crypto-enabled tech in the near future, platforms like Zignaly are uniquely positioned to help onboard even more customers to this burgeoning realm. In this regard, its native Cosmos-based blockchain, Zigchain, is primed to unlock numerous untapped potential and scale its offerings exponentially, paving the way for seamless integrations and the mass adoption of $ZIG. Thus, looking ahead, it will be interesting to see how things continue to shape up for the project.

The post $ZIG Shines as the Crypto Market Continues to Navigate the Ups and Downs  appeared first on Metaverse Post.

2024 started on a bullish note as prices jumped significantly, and Bitcoin went on to hit a new all-time high (ATH) at almost $73,740 in mid-March. However, since then, prices have been taking a breather, with BTC down 17.3% from its peak to now trade around $61K despite Bitcoin having its fourth halving in April.

With that, the total crypto market cap is back at $2.375 trillion, down from this year’s $2.89 trillion peak after starting the year around $1.77 trillion. However, the total crypto market capitalization has yet to make new highs, as in November 2021, it surpassed $3 trillion. 

This drop in price has sent the market sentiments to neutral, with the Crypto Fear and Greed Index having a reading of 56 after surging to 90 in early March.

According to crypto data provider Santiment, Bitcoin’s on-chain activity has dropped to its lowest since 2019 as traders “dramatically slowed transactions” over the last two months. 

Moreover, Santiment noted crypto assets falling into the ‘Opportunity Zone’ based on their market value to realized values (MVRV) of 1-month, 3-month, and 6-month cycles and that “adding on to positions at these levels would be doing so at less risk than the average mid-term trading timeframe.”

“The market is showing signs of fear, but any dips that may occur now represent an opportunity that should be taken advantage of,” said Ape Terminal Founder Hatu Sheikh.

If we take a look at stablecoin supply in the market, it has exceeded $160bln, with Tether (USDT) in the lead at $110.7bln, adding over $19bln this year so far. During the same year, the 2nd largest stablecoin, USDC, added almost $8.5bln, and DAI added $260mln to reach $33.12bln and $5.48bln, respectively. FDUSD market cap meanwhile jumped $2bln. A new stablecoin, Ethena USDe, also emerged, capturing $2.3bln in this short period.

Meme coins, however, are ruling the market, with their combined market cap reaching $51.17bln, led by Dogecoin and Shiba Inu. However, PEPE, WIF, and FLOKI are making great moves, having surged 561%,1,900%, and 387%, respectively, year-to-date (YTD). 

Restaking, meanwhile, is a narrative fast gaining traction in the Ethereum ecosystem. The market is concerned about this trend’s potentially dangerous effect, with many expecting it to top out aggressively, possibly contributing to the market crash. 

Platforms like EigenLayer, Renzo, and Ether.Fi has captured tons of capital and market attention with its idea of using a blockchain to secure other apps. Every other day, a new restaking platform pops up, expanding the Ethereum ecosystem but with an extremely risky initiative that involves staking the already staked ETH. 

As of this writing, the restaking tokens have a market cap of $9.25bln, while the liquid restaking market is at $7.38bln.

Despite this retsaking trend, Ethereum is seeing a drop in fees earned. In the past week, Bitcoin earned $2.94bln in total fees, taking over Ethereu’s $2.5bln, as per Cryptofees.info. In fact, Ethereum fees have dropped to a six-month low this week. This change comes as activity on Ethereum declines and NFTs and DeFi innovation spring up on the Bitcoin blockchain, with BRC20, Ordinals, Stacks, and Merlin Chain being the prominent contributors to this.

However, in 2024 so far, Ethereum is still leading with $1.425bln in fees earned, followed by Bitcoin at just over $600mln. Solana is in 6th place (after Tron, Uniswap, and Lido) with $162.77 mln, as per Token Terminal. Data from IntotheBlock, meanwhile, shows that Ethereum L2s are now settling increasing numbers of transactions, with the three largest L2s responsible for 82% of all Ethereum transactions.

Besides all this, 2024 has also been positive in terms of dApp usage, with the daily unique active wallets (dUAW) reaching 7 million in Q1, according to a DappRadar report. The social sector, in particular, has been stealing the limelight, with dUAW climbing to 1.2 million despite DeFi and blockchain gaming leading in usage. 

Meanwhile, in April 2024, dUAW spiked to a new high of 10.6 million, with social dApps seeing its dUAW further climbing to almost 1.5 million. Gaming still has a “dominant” 28% share of dApps.

Even the NFT sector has been seeing a revival, recording a surge of 40% in trading volume and a 13% rise in its sales. However, in April, NFT trading volume dropped while sales count jumped, with Bitcoin-based Runestones becoming the top NFT collection. In the NFT marketplace, Magic Eden is emerging as a leader, taking over Blur.

Much like price, total value locked (TVL) in the DeFi sector has also been on the rise since Q3 2023. As of this writing, DeFi TVL stands at $90.5bln, up from $54.2bln at the beginning of the year, according to DeFi Llama. The biggest contributors to this growth in TVL include Lido, EigenLayer, Aave, Maker, JustLend, Uniswap, Pendle, Ether.Fi, Summer.Fi, and RocketPool.

These market statistics show that “this year is marked by an uptick in activity across sectors. We are also seeing new narratives taking shape in the form of DeFi and NFT on Bitcoin, Ethereum staking, meme coins on Solana, and SocialFi, and that indicates even more interesting times ahead for the wide industry,” said Sheikh.

The post Crypto’s State in 2024, Ape Terminal Founder Hatu Sheikh Sees Exciting Things Ahead appeared first on Metaverse Post.

Web3 application marketplace Magic Square (SQR) announced the official launch of its Magic Launchpad–an initial DEX offering (IDO) platform is built on a decentralized exchange (DEX) that aims to democratize retail access for Web3 investors with limited funds.

In an IDO, a blockchain project launches its token publicly on a DEX to secure funding from retail investors. In recent months, IDOs have gained popularity among protocols as a means to raise funds and attract participants.

The platform will implement unique allocation strategies that benefit users with limited funds by considering factors such as user activity and contributions to the ecosystem. Furthermore, it will provide more than financial support for emerging Web3 protocols, including post-IDO assistance and community-building initiatives. Magic Launchpad will focus on facilitating participant attraction, considering the IDO a valuable tool for establishing a robust community and user base, aiming for long-term project success.

Users interested in taking part in investment rounds must first stake SQR tokens to earn SQR points, which will determine their allocation size for certain projects that require participation points. Additionally, users can accumulate points by taking part in the “Road-to-IDO” campaign before each project’s IDO launch. This campaign rewards users based on their activity within the new protocol’s community.

Upcoming sales on Magic Launchpad include the liquid restaking token financial application AutoLayer and the TON-based fantasy football play-to-earn game Fanton, alongside other opportunities.

It's here. https://t.co/wFIAbEzjqx pic.twitter.com/3G7zD4yNCK

— Magic Launchpad (@MagicLaunchpad) May 17, 2024

What Is Magic Square? 

Magic Square is a Web3 application store that enables users to create a personalized dashboard with all applications in one convenient location. The platform uses a rewards system to encourage user participation in community events and application marketing. It aims to promote the widespread adoption of Web3 decentralized applications (dApps), offering features such as Magic Store, Magic ID, Magic Spaces, Magic Karma, Magic Community, and Magic Boost. Currently, the project has more than 4.5 million registered users and over 1,300 applications listed.

The SQR token is central to the Magic Square ecosystem, facilitating the integration of users, developers, and validators. It is used for governance, user access packages, advertising, and referral rewards. Additionally, SQR tokens can be traded on DEXs and CEXs for other cryptocurrencies or fiat money.

As outlined in its 2024 roadmap, Magic Square aims to develop and promote its token for governance and loyalty programs. Additionally, the platform plans to integrate community chat features, introduce on-chain crypto wallets, and launch a mobile application.

The post Magic Square Unveils IDO Platform Magic Launchpad To Democratize Retail Access For Web3 Investors appeared first on Metaverse Post.

In a significant development highlighting the strengthening ties between authorities and digital currency exchanges, Binance partnered with Taiwan’s authorities to investigate a major money laundering case involving digital currencies.

The focus of the inquiry was illegal money totaling around NT$200 million, or about $6 million. The FCC provided invaluable assistance in apprehending the offenders through information exchange and collaboration.

The Binance’s Criminal Operation

The press statement from Binance stated that criminal enterprises have been helping fraud groups use digital assets to launder money for a considerable amount of time. To generate the appearance of genuine transactions, the offenders used a variety of techniques, such as creating fake identity validation data, transfer evidence, and customer interaction recordings.

Their actions, nonetheless, were observed, and finally, they were apprehended by the authorities. The authorities tracked and saw many dubious crypto transactions and obtained pertinent data from multiple sources, including Binance.

After promptly accepting the request, Binance arranged a cross-border virtual conference between the prosecutors and investigative officials to deliberate on a cooperative approach. The knowledgeable FCC staff at Binance offered suggestions and insights derived from crypto flow analysis, which helped to successfully reduce the number of possible suspects.

Nine people were charged last month on severe allegations that included stealing, breaking the Money Laundering Control Act, and breaking rules meant to prevent crime syndicates. These data were submitted by the case supervisor – Lo Wei-Yuan.

APAC team member for Binance, Damien Ho, reaffirmed the company’s commitment to preserving the integrity of the financial ecosystem. “Binance is dedicated to combating money laundering and maintaining the credibility of the Web3 environment,” he declared. We’ll keep pursuing this objective and strengthen our ties to law organisations.” This declaration highlights Binance’s proactive approach to combating financial crimes and strengthening its cooperative endeavours with global regulatory and law enforcement entities.

Taiwan’s Anti-Money Laundering Regulations

The effective collaboration between Binance and Taiwan’s regulators demonstrates the importance of the country’s anti-money laundering regulations. Taiwan has put in place a thorough legislative system intended to stop illicit activities. This strong framework helps to protect the integrity of the financial system by guaranteeing strict supervision and enforcement.

The significance of this legislation is demonstrated by Binance and Taiwanese authorities’ productive cooperation. Binance’s dedication to keeping a safe and open platform is demonstrated by its active participation in enforcing these laws. This collaboration serves as an example of how industry cooperation and regulatory frameworks may be used to fight money crimes.

MLCA which was passed in 1997 and has undergone many revisions to keep up with changing financial crime patterns, is the main piece of law guiding AML activities in Taiwan. The MLCA covers a broad spectrum of financial organisations, including exchanges for cryptocurrencies, banks, brokerage firms, and insurance providers.

The MLCA requires banks to perform customer due diligence (CDD) measures, which is one of its main components. This entails figuring out who the clients are and confirming their identities, comprehending the type of commercial interactions they have, and keeping an eye on payments for any unusual activity.

Banks must also designate enforcement officers, set up control systems, and regularly train staff members on AML/CFT (Combating the Financing of Terrorism) protocols.

Collaboration with international organisations like the Asia/Pacific Group on Money Laundering (APG) and the Financial Action Task Force (FATF) is another aspect of Taiwan’s AML/CFT initiatives. The nation complies with the suggestions of these organisations and actively participates in their projects.

Consequences and Difficulties for Exchanges and Authorities

The Taiwanese case involving crypto-assisted money laundering was successfully resolved, underscoring the significance of security agencies and platform cooperation. More and more digital assets are being used, which means that this industry needs stronger AML/CFT regulations.

As evidence of its dedication to handling financial crime, Binance has cooperated with Taiwanese authorities. Binance was instrumental in finding the individuals and advancing the inquiry through intelligence sharing and the application of their crypto flow analysis capabilities.

The situation also highlights the difficulties police confront in keeping up with the constantly changing strategies used by criminal organisations. In this instance, the offenders used a variety of strategies to hide their illegal actions, such as fabricating documentation and taking advantage of holes in identity verification systems. Because of this, it is critical that VASPs and cryptocurrency exchanges constantly improve their AML/CFT protocols in order to keep up with new risks. This entails putting in place thorough transaction monitoring systems, know-your-customer (KYC) protocols, and continual compliance staff training.

Furthermore, to counteract the cross-border character of financial crimes connected to cryptocurrencies, VASPs, law enforcement agencies, and regulatory authorities must effectively collaborate and share information.

Binance’s Global Expansion and Regulatory Challenges

While confronting regulatory obstacles in some countries, Binance is continuing its worldwide growth efforts, which include collaboration with Taiwanese authorities. After overcoming regulatory obstacles, Binance properly filed with the regulatory body, according to information released by the Financial Intelligence Unit of India (FIU-IND) last week.

Before that, Binance had declared that it had received a licence from VARA, allowing the platform to serve both retail and approved corporate clients. Reportedly, as part of the licensing procedure, Changpeng Zhao had to give up his voting authority over the Dubai business.

Binance was charged by the CFTC in 2023 with running an unlicensed digital asset futures market. Binance was accused by the CFTC of breaking many federal regulations, such as not registering as a futures commission merchant and not providing enough supervision over its trading platform to stop manipulative activities. These charges highlight the challenging regulatory environment Binance faces as it looks to grow its customer base and service offerings.

Furthermore, the SEC presented serious legal challenges to Binance Holdings LTD and its previous CEO, Changpeng Zhao (CZ). A number of severe charges were brought against the firm and CZ by the SEC, including broker transfers that were assisted without the required registration, unrestricted trading, and the offering and sale of securities without the required authorisation. The persistent conflict between cutting-edge financial technology and established regulatory frameworks is brought to light by these accusations.

These regulatory obstacles serve as a reminder that Binance and other platforms must prioritise compliance and collaborate closely with law enforcement to make sure their operations stay within the bounds of relevant statutes and rules.

The post Binance Partners with Taiwanese Authorities to Unveil Massive $6 Million Crypto Money Laundering appeared first on Metaverse Post.

Unanswered Question: Why Do Cryptos Have Value?

Tokens are digital assets that ensure the operation of decentralized networks, protocols, dApps, DAOs, and communities. Coinmarketcap currently tracks more than 20,000 tokens, and the number is growing steadily. Only 10,000 brand-new tokens are created per week on Solana.

Every day for the past ~3.5 weeks, there have been over 10k new tokens created on Solana pic.twitter.com/qhLgC0kDHl

— Alana Levin (@AlanaDLevin) May 13, 2024

Even considering that most newly created tokens are just memecoins or other assets without strong economic foundations behind them, the number of assets worth long-term attention is in the thousands. The question that arises is how to navigate this tokens’ landscape and what is more important—what is the particular value behind every single one?

Despite the classification frameworks available, the value of tokens remains a question that remains unanswered. That’s why I got the idea to build an approach for token classification and understanding economic mechanisms behind them. How exactly did I come up with this idea? 

I have been involved in crypto since 2013 as an enthusiast and miner of Litecoins and other coins available for GPU mining. I’ve started to be active in the technological space, especially after the 2017 ICO boom, and I constantly monitored and explored new projects and tokens coming to the market. 

As I have a background in chemistry, I can admit that chemistry is primarily a “classification science”. This approach could possibly be used for the crypto and tokens evaluation as well. I would like to share this valuable information with you. However, during my research I’ve noticed some problems that should be addressed.

Existing information and publications on the topic cover mainly token distribution (how tokens were/will be distributed) and legal status with less focus on intrinsic economic value, which is critically important.

While having practical insights and a strategic vision in decentralized finance, I would like to deepen this topic and talk more about token value. In this series of publications, I will describe the approach to understanding and classifying the intrinsic economic value of tokens for those who want to broaden their expertise. With my experience in analyzing, designing, and prototyping tokenized economic systems and DeFi products, I will provide you with more visibility into the fundamental understanding of the value behind tokens.

The main topics that I would like to cover in these blog posts:

Value creation and capturing in decentralized protocols;

Structure of the captured value;

Economic mechanisms behind value capturing.

From Zero to One: Value Creation and Capturing in Token Ecosystems

Value creation

In decentralized systems/communities, value is created not by one centralized entity but by coordinating agents involved in the network. It is true not only for blockchain networks but also for Defi projects, DAOs, NFT-powered communities, metaverse projects, and others.

Value capturing

The native digital asset (a token), integrated into the decentralized system, captures a share of the value created during system operation. The token is a key that unlocks a share of the value created in the network for its owner. It is done through utility functions associated with the token.

Let’s look at a simple example of a DEX. Decentralized exchanges offer the exchange of assets to end users, which is the primary value offered to the market. Considering a DEX without a native token (like Uniswap in mid-2020), the following groups of agents participate in the protocol: new pool creators, liquidity providers, and traders:

Each new pool created increases the number of assets offered by a DEX for trading and also increases the number of possible swap routes within the DEX;

Any liquidity added to any pool increases the overall liquidity of the DEX, making the DEX more attractive to traders (more liquidity equals less slippage);

Each trade executed by traders through DEX results in swap fees, making liquidity provision more attractive to LPs.

Thus, the coordination of the actions of pool creators, liquidity providers, and traders within a DEX creates value that DEX provides to the market. This value is available to:

Agents operating within the system (value contributors);

Direct users of DEX;

Indirect users of DEX, for example, data analysts who aren’t using this DEX themselves;

Owners and users of the DEX native token.

To understand the value of the DEX token, we need to know how its owners can share in the value created during DEX operations. For example, a token’s governance function can be a “key” to capturing the value created.

The governance function provides the unique ability to manage DEX operations, deployment strategy, and sometimes treasury allocations. Is it valuable or not? It depends on the DEX metrics such as TVL, user base, and influence on the DeFi market.  Adding protocol fee sharing will significantly enhance token value capture, as has happened with the Uniswap (UNI) token.

Answering this question requires understanding the basic set of typical tokens’ utility functions and their value-capturing abilities. I will cover them in the next blog posts, making complex concepts understandable and actionable.

The post How to Understand the Value of Crypto Tokens? appeared first on Metaverse Post.

Full-chain liquidity infrastructure provider StakeStone (STONE) announced its participation in the BNB Chain Airdrop Alliance Program, planning to distribute a total of 1 million of its future tokens to community members who engage in the BNB Eco Wave activities, as well as to Binance Smart Chain (BSC), and opBNB users.

StakeStone intends to allocate 50,000 tokens to users staking a minimum of 1 BNB on the Binance Smart Chain (BSC) or migrating BNB tokens from the Beacon Chain to BSC via the Stake Migration tool. Additionally, it will distribute 100,000 tokens to a second category of users staking 5 BNB on BSC.

Users can opt to participate in the BNB Eco Wave by supplying liquidity in STONE and ETH on PancakeSwap, consequently earning STONE-BNB points proportional to the amount of STONE provided and the time it remains supplied. The multiplier for providing STONE-ETH liquidity on PancakeSwap is set at 3x. Additional tasks involving the usage of STONE on the BNB Chain will be introduced at a later time. This prolonged period of reward opportunities is set to continue until 23:59 UTC, June 20th.

To participate, users are encouraged to find the StakeStone Omnichain Carnival Page on the BNB Chain website, connect wallet, stake ETH, bridge STONE to the BNB Chain, and complete the tasks provided.

Airdrop Alliance Program Reveals Its Second Season With New Partners

The Airdrop Alliance Program is designed to reward users on the BNB Chain and opBNB with airdrop incentives. The program initiated its second phase in April, introducing new partners–StakeStone, World of Dypians, and Cards Ahoy, among others. These partners are expected to facilitate the enhancement of the BNB Chain ecosystem by offering rewards to engaged users of their platforms.

StakeStone is an omni-chain Liquid Staking Token (LST) protocol designed to improve native staking yields and liquidity across Layer 2 networks. Recently, Binance Labs, the venture capital firm and incubation arm of cryptocurrency exchange Binance, has made an undisclosed investment in StakeStone to aid in developing the project.

The post StakeStone To Distribute 1M STONE Tokens To BNB Eco Wave Participants As Part Of BNB Chain Airdrop Alliance Program appeared first on Metaverse Post.

Bitgert, after experiencing the brisk 7% excitement, has spurred intense FOMO in the investment arena. With every market-watcher that jumps on the bandwagon, the chatter around Bitgert Coin continues to increase. This development is one of the most outstanding movements that brings the subject to a wider audience with regard to the market opportunity. Let’s explore Bitgert’s present market standing to comprehend the uniqueness of the ecosystem.

Decoding Bitgert Coin

It was a couple of years ago that Bitgert (BRISE) adopted its new name from Bitrise Token. With promising advantages to the holders, BRISE became the heart of the Bitgert ecosystem. This project looks to offer the whole user-friendly ledger technology and ecosphere to those who look in the direction of the crypto world. The smart contract will give room for staking BRISE to benefit because it offers passive income in BUSD. Moreover, the smart contract comprises a buyback option with which the price of the token is maintained at high values by keeping the circulation supply at a level as low as possible. Bitgert developed an enormous scope of products and services to ensure users are covered and safe. They have developed a wallet for the storage of BEP20 and ERC20 tokens, a monitoring platform with a leaderboard, a decentralized exchange for easy token swapping, a platform for placing stakes for rewards, an exchange for trading purposes, and an entirely independent infrastructure for the blockchain to support all the activities of the ecosystem.

Bitgert’s Last 30-Day Performance Assessment

In the last 30 days, Bitgert (BRISE) has proven to be quite an active and one of the most promising cryptocurrencies. The token price was $0.000000169089 on April 17, 2024. Over the period of one month, on May 17, 2024, it increased by 21.3%, reaching a value of $0.000000151383. In the same period, the capitalization of Bitgert has grown by 10.7%, from $66,939,887 as of April 17, 2024, to $59,894,220 as of May 17, 2024. More capitalization complements the falling price to make the firm more attractive to investors and make them trustworthy. Importantly, Bitgert is being traded with a stable volume of about $2 million a day, which once again proves that the company is very active and available on the market. It means that the project has a very strong competitive edge on the market, and its trade volume is stable.

Is Bitgert A Safe Haven?

Despite some turbulence, Bitgert has been able to hold above the trendline favorably, indicating resistance to market turbulence. The initiative has functioned admirably over the previous 30 days, demonstrating future expansion and acceptance. While Bitgert’s recent success is undoubtedly good news for investors, given how famously unpredictable the cryptocurrency industry is, one should always conduct the appropriate due diligence and study before making any financial decisions.

To know more about Bitgert, Visit https://bitgert.com.

The post BRISE Coin’s 7% Surge – FOMO Takes Hold appeared first on Metaverse Post.

The second-highest net capital inflow into Bitcoin’s ecosystem through Bitcoin ETFs was recorded within the last 48 hrs. The advent of this incident saw Bitcoin spike by approximately 7.2%. 

This financial injection has revived investors’ belief in a bull market before July, and hundreds of tokens like BEFE have been lined up to follow in the footsteps of Bitcoin’s sudden spike.

Many market enthusiasts strongly believe BEFE’s fundamentals and its vibrant community of supporters could spur a 3000x before 2025.

Today, we intend to investigate BEFE’s profit potential and examine the current outlook of the market.

Spot Bitcoin ETFs Spurring a Market Bull Run

For over two weeks, Bitcoin struggled to trade above the $60,000 resistance level, falling victim to the market’s high volatility.  

However, the market seems to have responded positively to the recent influx of financial capital into Bitcoin’s ecosystem on Wednesday. This capital inflow mirrors BTC’s sudden spike above the $66,000 resistance level. 

This positive inflows in spot BTC ETFs pushed Bitcoin to a 3-week new peak. At press time, Bitcoin is now exchanging hands at $66,460.

Within the past 48 hours, spot Bitcoin ETFs have been trading northwards; the offensive pressure of market bulls also supports a long-term bullish bias.

BEFE: Savvy Investors’ Best Bet

As the market slips past the claws of market bears, savvy investors are making a big bet on BEFE, a new meme coin, for an easy 30x before July. 

Many believe BEFE’s strong team collaboration, exciting road maps, and utilities are engines that will drive it in the right direction for a 3000% profit in the second quarter.

BEFE lines up several strong collaborations to increase its outreach and market popularity within the crypto community. Partnerships with big market players like Planktos, a strong community in Solana’s ocean ecosystem, and Gari, a Web3 social community, have been evident in its charts, attracting new market entrants and significantly decreasing selling pressure.

Well, charts don’t lie, and recent data from Trading View indicates that BEFE is currently in the overbought region, indicating a bullish breakout in the near term. Further analysis reveals that BEFE is poised to break out of a symmetrical triangle pattern and skyrocket in May.

BEFE is a definite bet for a big win in 2024.

Conclusion 

Moreover, the confidence in $BEFE’s trajectory is palpable. Hence, it’s increasingly evident that the BEFE community of over 600K members is ready to push and witness an ascent to a new peak before June.

Now is the best time to get involved, ride on BEFE’s market potential, and secure sky-high gains this year.  

To know more about BEFE, visit https://befetoken.com.

The post The BEFE Coin Enigma: $100 to $300K Unraveled appeared first on Metaverse Post.

This week saw a flurry of significant investment deals across various tech sectors. Polymarket raised $45 million from the top-notch investors. U.S. senators proposed a $32 billion plan to boost AI development. Humanity Protocol secured $30 million, reaching a $1 billion valuation, for its digital identity tech. SoftBank plans to invest up to $150 million in India’s AI infrastructure. Microsoft announced a €4 billion investment in France’s cloud and AI sector.

Prominent Figures Support a $45 Million Commitment to Polymarket

Polymarket has successfully secured $45 million in a Series B funding round. This significant instalment was provided by a group of well-known investors, further solidifying the platform’s position in the market. This latest round of funding follows an earlier Series A round led by General Catalyst, which raised $25 million. As a result, Polymarket’s total funding now exceeds $70 million, highlighting the growing confidence in its innovative approach to prediction markets.

To drive its next phase of growth, Polymarket has appointed Richard Jaycobs as the new head of market expansion. With this fresh capital and strategic leadership, Polymarket is well-positioned to enhance its offerings and solidify its presence in the growing field of crypto.

US Senators Want to Invest $32 Billion to Accelerate the Development of AI and Technology

Four US senators from different political backgrounds have put out a $32 billion investment plan to ensure US leadership in the AI industry. The strategy, spearheaded by Majority Leader Chuck Schumer, is to take advantage of AI development’s benefits while addressing its concerns. AI applications not tied to the military would receive the majority of the money, with military-related research receiving a larger share.

Now, obviously the Senate can’t make a law on its own, so I plan to meet with Speaker Johnson in the near future to see how we can make this bipartisan effort BICAMERAL with our AI Policy Roadmap.https://t.co/vbHKER9zNg pic.twitter.com/0H71VaubAz

— Chuck Schumer (@SenSchumer) May 15, 2024

The strategy also includes money for state AI evaluation facilities, AI-ready data, and cross-government investigation and development. The senators also suggest enacting a federal data privacy law, passing laws to ban the use of deepfakes and implementing regulations to deal with problems like AI-related copyright breaches, employment displacement, and discrimination based on one’s health or finances.

In a Financing Round, Humanity Protocol Has Raised $30 Million

With the help of the funds, Humanity Protocol will be able to grow its research and development team and get ready to introduce its public testnet in 2024. The platform integrates ZK-proof technology and a consensus method known as “proof-of-humanity” with a palm scanning option to protect digital identities on a blockchain.

A less intrusive substitute for Worldcoin, which makes use of iris scanning technology, is Humanity Protocol. With the world depending steadily on artificial intelligence and data breaches occurring more frequently, the market for decentralised identities is expanding. The company seeks to promote fairness and inclusivity in the digital future by protecting private user information and confidential information.

SoftBank is About to Invest $150m in India’s AI Infrastructure

As part of its broader focus on infrastructure connected to artificial intelligence, Japan’s SoftBank is contemplating investments in industrial robots and data centres in India. The company targets large companies’ data centre operations or industrial facilities that use automation and artificial intelligence (AI), with investments ranging from US$75 million to US$150 million per purchase.

This is consistent with SoftBank’s global drive for robotics, artificial intelligence, and self-driving vehicles. SoftBank’s two-year investment hiatus in India will come to an end with possible investments in the nation’s AI architecture.

Microsoft Will Invest €4 Billion in Cloud and AI Infrastructure in France

Microsoft’s greatest investment to date is expected to greatly improve the usage of AI in France. With the goal of educating one million people and assisting 2,500 AI firms by 2027, the company plans to invest €4 billion in French tech development. Microsoft’s AI Access Principles, which seek to promote creativity and fair rivalry in the quickly expanding AI sector and guarantee the ethical and equitable growth of artificial intelligence in France, will serve as the initiative’s compass.

The post This Week’s Top Deals, Major Investments in AI, IT, Web3, and Crypto (13-17.05) appeared first on Metaverse Post.

SHIB, a leading name in the world of decentralised finance (DeFi) cryptocurrencies with millions of holders globally, has announced the relaunch of the Welly Friends NFT Collection. This innovative NFT series supports a well-loved restaurant and catering business in Italy.

The Welly Friends NFT collection began in 2022 to support the expanding Welly restaurant chain. Since then, Welly has grown into the catering business, prompting a complete redesign of the NFT collection. The creative team has transformed each profile picture from 3D renderings to detailed hand-drawn art, adding rich details that stand out even at small sizes. The Welly World story universe has also been expanded, adding new narratives to these designs.

The Welly Friends NFT collection offers something for every NFT enthusiast. It has high growth potential for investors, a unique addition for digital art collectors, and a sense of community for SHIB and Welly fans. The artist behind this redesign has extensive experience working with major companies like Pixar and Supercell.

“Welly is a fresh approach to combining food-based blockchain innovation with NFT art,” said Shiba Inu Lead Developer Shytoshi Kusama. “The Welly Friends NFT Collection is a unique and engaging way to interact with NFTs, backed by a real restaurant business that’s one of Italy’s most exciting food brands.”

Welly started with the idea of bringing blockchain concepts to a food franchise, offering something new, innovative, healthy, and tasty. It opened in Naples, Italy, in 2021. Designed by the award-winning studio Masquespacio, Welly has rebranded and partnered with SHIB, becoming a popular spot for chicken lovers and more. With a menu featuring exclusive recipes from the renowned young chef Flynn McGarry, Welly aims to provide high-quality meals in the fast food world.

About SHIB

SHIB is a prominent ecosystem of decentralised finance (DeFi) cryptocurrencies, popular among millions worldwide. It has 3.9 million followers on X (formerly Twitter) and is often ranked as the second-most searched crypto project on Google. Its ecosystem includes tokens like $SHIB , $LEASH, and $BONE, along with native SHIBOSHIs and SHEboshi NFTs. SHIB.io leverages the Shib Ecosystem to power quality technologies, including SHIB: The Metaverse and Shibarium, a Layer 2 blockchain that offers a solid foundation, scalability, security, and innovation for a decentralised world.

The post Renowned SHIB Ecosystem Partners with Italian Restaurant Welly to Relaunch NFT Series with Hand-Drawn Collection appeared first on Metaverse Post.

Singapore, Singapore, May 17th, 2024, Chainwire

Mining Now, a trusted and reputable real-time crypto-mining insights provider company, is thrilled to announce the launch of its versatile platform that attempts to give unbiased insights associated with crypto mining as well as real-time Asic profitability tracking where people can analyze and compare the crypto mining hardwares to draw well-informed inferences. It is designed to bridge the gap between miners around the world and the crypto landscape with Mining Now’s user-friendly interface intending to boost the crypto mining endeavours. 

With a solid commitment to delivering crypto mining insights, the leading-edge platform not only pertains to benefit the miners worldwide to accomplish swift and unmatched mining outputs but also curated a whole range of ASIC miners showcasing intricate data and specifications in entirely uncomplicated form in one place to create heightened awareness as well as maximizing the profits. 

With its recently launched platform, the entire team of Mining Now has big plans to expand their horizons to cover other forms of crypto mining hardware as well, such as GPU and CPU miners, for maximized research potential, and they are persistently working to accomplish it. Not only this, but they are also on the go to forge a full-fledged mining community that thrives to unify diversified entities. Mining Now’s exclusive community will have crypto Asic enthusiasts, technicians, supporters, and mining farms that will aid in promoting exquisite experiences and exponential growth.  

Another distinctive approach to providing its users with P2P deals is the cherry on top, as they will have accessibility to sellers from around the world, which would save them thousands of dollars. No such groundbreaking platform has been in the game yet, and it can be well-anticipated that Mining Now is now all set to pioneer the entire world with its distinctive features and qualities.   

This move by Mining Now will not only forge a more profound sense of reliability amongst its users but also bring a revolution that would shake the entire industry with its vision and innovations, leaving a benchmark of unbiasedness, futuristic approach and unseen innovations. 

Embark on this exquisite journey with Mining Now and raise the bars of your crypto mining ventures. 

Website: https://miningnow.com/ 

Social Media Handles

Discord: https://discord.com/invite/9JVK9trkG7 

Twitter: https://twitter.com/Realminingnow 

Telegram: https://t.me/RealMiningNow 

Contact

SelinaMining Nowselina@miningnow.com

The post Mining Now Launches Real-Time Mining Insights & Profit Analysis Platform appeared first on Metaverse Post.

Decentralized synthetic asset protocol Synthetix (SNX) announced its plan to move forward with the V3 rollout, which will involve the migration of SNX and sUSD. The process will begin with the migration of SNX from the Ethereum mainnet to V3 in June, followed by the V3 deployment on Optimism.

V3 transition will enable the generation and distribution of real yield from trading fees to liquidity providers. Additionally, it will introduce a buyback and burn mechanism, which uses transaction fees to purchase and burn SNX tokens.

The transition to V3 will introduce significant changes, including the ability to accelerate real yield by replacing inflationary SNX rewards with real yield derived from trading fees and a buyback or burn mechanism to reduce the SNX supply. Additionally, sUSD will be collateralized with the stablecoin backed by assets such as SNX, ETH, USDC, and yield-generating collateral, enhancing scalability. Furthermore, V3 will simplify liquidity provision with a delta-neutral design for Synthetix Perps and Spot Markets, making participation more accessible.

Starting next week, several supportive initiatives will be implemented. This encompasses sUSD rewards on Velodrome, offering an additional 10,000 OP tokens per week for sUSD or USDC liquidity. Additionally, there will be extra 20,000 SNX incentives for sUSD liquidity pools on Curve.

Transitioning to Synthetix V3: Scaling sUSD & Migrating SNXSynthetix is undergoing a pivotal phase of the V3 rollout, introducing a new foundation and architecture for the protocol. This transition also marks a significant step towards enhancing the scalability and… pic.twitter.com/X6UwdDPdKA

— Synthetix (@synthetix_io) May 17, 2024

Synthetix Launches Infinex To Unify Decentralized Finance Applications Into Single Interface

Synthetix is a decentralized finance (DeFi) platform offering liquidity for various permissionless derivatives, including perpetual futures, options, and parimutuel markets, available across Ethereum Virtual Machine (EVM) compatible chains.

Recently, Synthetix co-founder Kain Warwick launched Infinex, a front-end platform designed to unify decentralized finance applications into a single user-friendly interface. Infinex will be able to operate alongside Synthetix, which currently has nearly $500 million in locked deposits and will initially support six blockchains, encompassing Ethereum, Solana, Polygon, Arbitrum, Optimism, and Base.

The post Synthetix Will Transition To Synthetix V3 This June, Introducing New Foundation And Architecture For Its Protocol appeared first on Metaverse Post.

At the CONF3RENCE event in Dortmund, we had a chance to talk with Dorian Vincileoni, Head of Business Development for Europe at KuCoin, a leading cryptocurrency exchange. In this discussion, Vincileoni discussed the coins’ listing, community engagement, post-halving market, regional trading disparities, and the convergence of traditional finance with the crypto ecosystem, providing a compelling glimpse into the industry’s future.

Can you tell us more about the listing process? What are you focusing on?

There are projects that we spotlight more than others. There are other projects that are not only listed but actually participate in our spotlight program. So, when a project is particularly interesting, we tend to emphasise it and create better campaigns around it when launching. That’s the case right now for the LFT token project that is going live.

As the campaign is ongoing right now, I encourage users to take a look at it. They can find it very easily on our official social media channels, official website, or app. 

We are heavily focusing on the narratives of this cycle. We’ve already focused on AI, RWA, and DePin. We have listed many projects related to each of them, and we will continue to do so.

Which narrative do you think will be more successful?

I believe RWA is going to be a narrative that will probably take off, especially with the arrival of institutional investors and institutions in the US that are very interested in the opportunity of tokenising assets. There will be more adoption than we initially thought.

Then, the other narratives do exist. On this side, there are obviously meme coins that will continue to aggregate and create communities as we’ve always seen them do.

Do you have any rewards for the users who acquire coins in the initial stages of listing?

It’s more campaign-based, so it depends on what the project wants to organise with us. It can be a trading competition or a burning drop, meaning you stake KCS, for example, on the platform, and you’ll get rewards for the token that is being listed. It can also be an activity-based event, and you have a couple of activities and actions to do to be rewarded with the project’s token. Overall, it really depends on what kind of relationship we have. 

If we are focusing on NotCoin, the campaign will be ongoing at the moment. With the arrival of the USDT on the TON blockchain, we also participated in their wallet-based activity, which was letting people and still letting people get around 50% APY if they come and get USDT on the TON blockchain, on their wallet, on Telegram. We are doing a lot of activities, and I suspect we will do much more with the later projects that will draw the same kind of attention as NotCoin.

Why is it important for the exchanges to engage with the community?

All exchanges at a certain point are community-driven. It’s especially true for KuCoin since we have this tendency to give a larger chance to smaller projects who want to get listed and have access to a larger market but already have an organic community that they can show, that they can show us, and they can show others.

Actually, we have a functionality that’s called GenVote. You can vote for the projects that you want to see listed on KuCoin thanks to this. Our user base can also participate and all the user bases of projects can actually register and start to participate as well to show us there is an actual organic interest. That’s kind of a way to be community-driven. 

One practical aspect of why we need to listen to our communities is to know when you have scammers who try to speak in your name. We are not going to be looking around for scammers that impersonate us, but it’s good when users come to us and say, you know, these guys are pretending to be KuCoin support. Then we can take action and actually out them for what they are: scammers or hackers.

How do you see the post-halving market? Have you noticed any positive/negative changes in the user’s behaviour?

If we look at the history, it has been indicative of a kind of the start of a bull run or a more volatile bull run. We are not seeing its effects for now. It’s not really surprising since there is always a bit of lag between this market, I would say, market change of parameters.

We will see the results of the halving throughout this year. Now, the important thing about the halving is actually not its impact on the price. The important thing about halving, in my personal opinion, is that it exists and works. It has become something as sure as death and taxes, as they say. 

Is there something else that can influence the market other than halving? 

This year, the arrival of institutions is definitely something that will probably have more impact than the halving. We always had institutions in the crypto market. Some were more early adopters than others, some were latecomers to the party, etc.

This time, it’s different, for once, because a large percentage of these institutions now have access to crypto markets through ETFs and products that they already know. They’re not as afraid of tiptoeing as they used to be, regarding Bitcoin especially, but it might be other products as well. 

You start with Bitcoin in crypto, but people, most of the time, don’t stay only there. Then they investigate more about the technologies, the projects that are already there, etc. So, if we see this happening also with institutions, this will have a much more massive impact on the market than the halving. 

What are the most noticeable differences between users and their trading experience in different regions (Asia, Europe, US)? 

I would say there are differences between the profiles of investors and the profiles of users of the products that we offer at KuCoin. The approach to crypto by itself, overall, the openness to it is a bit different. As traders, we also see different risk tolerance trading attitudes.

When you look at Europe, you tend to have markets where the proportion of people who actually invest tends to be lower than in Asia. But obviously, the volumes that we are observing in Europe, especially in some countries, are much larger than what we see, especially volume per user. There is a tendency among people in countries that are more in the developing stage and phase to be more open to these new opportunities and new technologies.

In Asia, it’s very common to have many platforms and use as many as you can and try lots of types of different products. Whereas in Europe, there is a tendency for users to focus on a couple of platforms, even one platform sometimes, and to use products in a more moderate way. 

How do you see the technological development in the DACH region? Do you think that this region will be the leading one in Europe in terms of technological growth?

The German-speaking region in Europe, in general, has strong organic arguments for remaining a leader in terms of technological growth. Especially due to past experience and the investments in technological development.

Crypto is just one aspect of it, obviously. There is much more to it than that. But these industries tend to be quite capital intensive, meaning that if you’ve not invested enough in the past, it tends to cost even more to catch up.

Also, there is a very high level of educated population with a good standard of science, technology, engineering, and maths. That’s one of the elements that can be relied on. Investors, in general, are quite open to new technologies in this zone.

Switzerland is seen as the crypto hub of Europe, and for good reasons. Even in Germany, an investment fund like Rocket Internet could take advantage of the whole internet development. This is a unicorn example in Europe. There have not been many funds that have done exactly that. 

What results do you expect to achieve from the upcoming Conf3rence event in Dortmund?

The event in Dortmund is a great opportunity for us to learn more about this specific crypto ecosystem, like local projects. Moreover, we need to listen to our German-speaking users and their feedback on their issues with the platform, what they like, and what they are interested in seeing us develop. We tend to have this localised approach since we are, once again, community-driven, and we want to be sure that we stay in touch with our local users. 

This event will include speakers from the Web3 space and the “traditional” financial and technological sector. How do you foresee the further coexistence of these spheres? 

We are witnessing the traditional financial sector finally converging towards us. Since we are now officially competing in the crypto industry with the traditional finance sector, we are also being brought towards them in some aspects.

The approval of Bitcoin ETFs earlier this year has become a hot topic. Then, the real-world asset tokenisation process becomes very popular in the traditional financial sector. As we’ve witnessed, BlackRock has been heavily investing in this segment.

It’s interesting for us because this sector, traditional finance, didn’t have any competition for a long time. We brought competition to this sector to the point where we are now a legitimate component of the technological sector, one of its most innovative and attractive components.

We hope this tendency will continue and that new technological solutions will be integrated into the traditional finance segment. That’s how we get mass adoption, with penetration in other segments without even them focusing on it, just being a new standout.

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The blockchain industry is a rapidly evolving landscape, where visionary minds are redefining the boundaries of what’s possible. As this transformative technology continues to mature, it’s crucial to shine a spotlight on the individuals driving innovation and propelling the adoption of blockchain-powered solutions. In this comprehensive article, we’ll delve into the profiles of five leading blockchain experts in 2024, whose pioneering efforts are poised to reshape the future of digital finance, decentralized applications, and the broader Web3 ecosystem.

From the pioneering work of Ethereum co-founder Vitalik Buterin to the groundbreaking initiatives of Litecoin creator Charlie Lee, these blockchain luminaries have left an indelible mark on the industry. Join us as we explore the remarkable achievements, visionary insights, and influential roles of Elon Musk, Alex Reinhardt, Gavin Wood, and other trailblazers who are steering the course of this technological revolution. Stay ahead of the curve and gain valuable insights into the key players shaping the future of blockchain and Web3.

1. Elon Musk: The Visionary Behind Dogecoin and Neuralink’s Blockchain Integration

Elon Musk, the visionary entrepreneur behind groundbreaking ventures like Tesla, SpaceX, and SolarCity, has also made a significant impact on the blockchain landscape. His influence extends beyond his well-known support for the meme cryptocurrency Dogecoin, which has experienced meteoric rises in value following his tweets. Musk’s involvement in blockchain extends to his role as CEO of Neuralink, a company developing brain-computer interfaces. He envisions leveraging blockchain technology to securely store and manage user data generated by Neuralink’s products.

Musk’s involvement in blockchain has sparked excitement and anticipation within the industry, as his ventures have a proven track record of disrupting and revolutionizing established sectors. His support for Dogecoin has demonstrated the power of social media and individual endorsements to drive market sentiment, while his plans for Neuralink highlight the potential of blockchain to integrate seamlessly into emerging technologies.

2. Alex Reinhardt: A Self-Made Entrepreneur Revolutionizing Blockchain

Alex Reinhardt‘s path to becoming a prominent figure in the blockchain industry is a testament to the power of entrepreneurial spirit and unwavering dedication. As the founder of the blockchain company Smart Blockchain, Reinhardt has emerged as a driving force behind the adoption and advancement of this transformative technology. With a diverse portfolio of over 20 successful IT and fintech ventures, Reinhardt’s entrepreneurial prowess is undeniable.

What sets Reinhardt apart is his ability to seamlessly blend his technical expertise with a gift for communication. Through his prolific writing and captivating speaking engagements, he has established himself as a sought-after thought leader in the blockchain community. Beyond his entrepreneurial pursuits, Reinhardt is committed to nurturing the next generation of innovators. His book “You are Number One” serves as a valuable resource, guiding aspiring entrepreneurs in navigating the challenges of the business world.

3. Gavin Wood: A Pioneering Architect of Ethereum and the Web3 Foundation

Gavin Wood, a British computer scientist, stands as a co-founder of Ethereum, one of the most influential blockchain platforms to date. Wood’s contributions to the blockchain space extend far beyond his work on Ethereum. He is widely recognized as a leading thinker and innovator, earning him the respect of the blockchain community.

Wood’s passion for decentralization led him to establish the Web3 Foundation, a non-profit organization dedicated to fostering the development of a decentralized web. His expertise in programming languages led to the creation of Rust, a programming language specifically designed for blockchain development. Rust’s popularity has grown steadily due to its emphasis on security and performance, making it a preferred choice for many blockchain projects.

4. Vitalik Buterin: The Prodigy Behind Ethereum and a Blockchain Evangelist

Vitalik Buterin, a Russian-Canadian programmer, has made an indelible mark on the blockchain world as the creator of Ethereum. Buterin’s exceptional talent was evident from a young age, as he began programming at the tender age of 8. His mathematical and computer science skills have earned him widespread recognition as a gifted individual.

Buterin’s passion for blockchain technology extends beyond his technical prowess. He is a fervent advocate for the potential of blockchain to address global challenges and improve the lives of individuals worldwide. His frequent speaking engagements at conferences and events have made him a popular figure in the blockchain community, where he shares his insights and perspectives on the future of the technology.

5. Charlie Lee: A Litecoin Pioneer and Cryptocurrency Advocate

Charlie Lee, a computer scientist, is best known for his creation of Litecoin, a cryptocurrency that has gained significant traction within the blockchain ecosystem. Lee’s background as a former Google engineer and his early involvement in the cryptocurrency space have made him a respected figure in the industry.

Lee is a strong proponent of utilizing cryptocurrency for everyday transactions, envisioning a future where blockchain-based digital currencies become commonplace in global commerce. His co-founding of the Litecoin Foundation further demonstrates his commitment to promoting the development and adoption of Litecoin. Lee’s active participation in conferences and events has solidified his position as a thought leader in the cryptocurrency space.

The Trailblazers Shaping Blockchain’s Transformative Future

The five individuals we’ve profiled represent a small fraction of the talented and innovative minds shaping the future of blockchain technology. Their diverse backgrounds, expertise, and contributions highlight the transformative potential of blockchain to revolutionize various industries and aspects of our lives. From pioneering entrepreneurs like Alex Reinhardt, who are driving the adoption of blockchain-based solutions, to visionary thought leaders who are articulating the far-reaching implications of this technology, these trailblazers are at the forefront of a digital revolution.

As blockchain technology continues to mature and gain wider adoption, we can expect to see even more groundbreaking innovations and applications emerge. The individuals we’ve discussed are just a few of the pioneers who are paving the way for a future where blockchain plays a central role in our society. By closely following the leading experts and influencers of Web3 and blockchain, you can stay informed about the latest advancements, cutting-edge projects, and transformative opportunities that this technology presents. Immerse yourself in the dynamic world of blockchain and be part of the journey that is reshaping the very fabric of our digital landscape.

The post 2024’s Leading Blockchain Experts: 5 Innovators Shaping the Future appeared first on Metaverse Post.

Developer of Pink Drainer, a fraudulent service provider, announced its plan to dismantle its infrastructure. As per a post on the messaging platform Telegram, shared by blockchain investigator ZachXBT, the malicious entity has claimed to have accomplished its objectives and will now retire, initiating a gradual shutdown with all stored information to be securely eliminated and destroyed.

Pink Drainer issued a statement in which it highlighted impersonation attempts, clarifying that the group has no immediate intentions of resurfacing. They emphasized that any future communications purportedly from Pink Drainer, not signed by one of its wallets beginning with 0x636 or 0x9fa, should be considered unrelated to the group.

The scam service provider offers tools designed to exploit both technical and social vulnerabilities, facilitating the theft of cryptocurrencies and non-fungible tokens (NFTs) from users’ wallets. It predominantly relies on social engineering tactics and the dissemination of phishing links to deceive users into authorizing transactions.

Pink Drainer’s Crypto Theft Exceeds $85M From 21,131 Victims In 2023

Pink Drainer was part of a larger network of phishing-as-a-service platforms, which included others such as Monkey Drainer and Inferno Drainer. The developers of these platforms earn income through fees and a share of the stolen assets. According to data from Dune analytics, over the past year, the group has been associated with the theft of more than $85 million in cryptocurrency from a total of 21,131 victims.

Recently, it was reported by security expert Plumferno that the Pink Drainer toolkit was provided for the email phishing scam focused on creditors of bankrupt cryptocurrency companies like BlockFi and FTX, leading to thefts amounting to at least $5 million in cryptocurrency and NFTs. Allegedly, the hacker acquired the list of email addresses from data initially pilfered from the email service Mailer Lite, which experienced a breach in January.      

Cryptocurrency phishing attacks have become a prevalent method of cybercrime, as reported by blockchain security company Scam Sniffer, with a total of $300 million stolen through such attacks in the previous year alone, which highlights the continuous need for care and vigilance in the cryptocurrency space.

The post Pink Drainer To Shut Down Its Scam Service Infrastructure And Delete All Stored Data appeared first on Metaverse Post.