Are you ready to zoom into space with the profit-laden MoonBag (MBAG)? The crypto bull run of 2024 may be your chance to turn the tables and make great profits with the new crypto gracing the market. With older cryptos like Polygon (MATIC) and Solana (SOL) facing their respective challenges, this may be your shot to invest in the fresh meme coin.

The adorable MoonBag monkey is all geared to lead you to the moon with a series of inviting prospects. Transparency, high returns, sustainability, and many other merits of the MoonBag coin will likely excite any crypto enthusiast. Let’s explore how the $MBAG coin stacks against cryptos like Polygon (MATIC) and Solana (SOL).

Will Solana Overcome Congestion Woes, Address Traffic and Scalability Challenges?

After its launch on Mainnet Beta in 2020, Solana (SOL) has been widely considered a big crypto name. However, lately, it has been noted that Solana is suffering from congestion due to increasing traffic, which has resulted in increased waits for transactions to be processed and some of the transactions being dropped. 

This may be due to an increasing number of spam transactions, in addition to the network’s general popularity, which has resulted in a large number of transactions being conducted. The platform must work on this issue to ensure smooth processing and scalability.

Polygon’s Appeal and Limitations: Evaluating MATIC’s Everyday Utility

Polygon’s low transaction fees have won many hearts since its beginning, but its limitations in terms of usage have made it a rare choice among investors. Although crypto is considered fairly good for investment, its everyday value is questionable. Polygon was designed to pay transaction fees and secure the network. It cannot, however, be used for daily purchases, which may be the reason for the token’s limited utility.

MoonBag Presale Brings Together APY Incentives and Transparency

In the detailed itinerary the whitepaper provides, the voyagers who choose to board the MoonBag mission are offered a series of tempting proposals. Priced at only $0.00005 during the first stage of its presale, the $MBAG coins are expected to reach much higher prices at the end of the presale journey. For those watching MoonBag coin’s progress before choosing to invest, now may be a great time because, unlike ever before, investors in the MoonBag presale can stake coins with an 88% APY incentive. This is not to say that the perks offered by other presales are not present here; you will be eligible for exclusive access to events in the fun and interactive MoonBag galaxy.

Powered by the stable and reliable Ethereum blockchain and its committed community of developers, the $MBAG spaceship will likely provide a stable journey free of turbulence. The MoonBag whitepaper also builds trust by providing investors with a blue map of exactly how the funds gathered from the presale will be used, with 20% allocated to liquidity funds. These funds will be injected gradually throughout the early journey of the coin to ensure that its $MBAG coins remain viable and uphold their value. This will also make the MoonBag coins more sustainable than other meme coins. With their long-term vision, the makers of MoonBag coin have also hinted at collaborations with seasoned market makers.

Conclusion

As the 2024 season gains momentum after the Bitcoin Halving Event, do you have your eyes on the prize? Whether you choose to trust Solana and Polygon amongst other conventional cryptos or you choose to put your faith in the hands of the MoonBag monkey. The time to act is now! Make haste before the season falls into the lap of history. Join the MoonBag presale today and set sail on the journey to riches. 

Invest in MoonBag Presale

Website: MoonBag.org

Presale: MoonBag Presale

Telegram: https://t.me/moonbag_official

Twitter: https://twitter.com/moonbag_org

The post Tired of Polygon and Solana Woes? Time to Zoom Into Space with MoonBag Presale appeared first on Metaverse Post.

In the volatile cryptocurrency market, BlockDAG shines brightly with a successful $29.2 million presale, thanks to its innovative roadmap and advanced features. This success contrasts sharply with AVAX’s uncertain price future and the ongoing rise of Dogecoin, establishing BlockDAG as a leading Layer 1 cryptocurrency poised for substantial growth.

Market Trends Affecting Ethereum and Dogecoin’s Outlook

Ethereum currently trades at $2,904, showing a slight decrease recently. Despite some bullish attempts, Ethereum remains caught in a bearish trend that might suggest further declines. Ethereum’s price has decreased by 31% from its March high of $4,000, finding some stability around $2,870. This level is crucial as the 50-day exponential moving average and the Relative Strength Index suggest a bearish outlook. A breach below $2,870 could push Ethereum’s price down to $2,800 or even $2,200, urging investors to keep a close eye on these pivotal levels.

Dogecoin’s Bullish Momentum Points to Potential Gains

Dogecoin shows bullish momentum, potentially leading to a 15% increase to $0.18 if Bitcoin remains strong. Currently trading above $0.15, bullish indicators like the Relative Strength Index and Awesome Oscillator support Dogecoin’s positive movement. If Dogecoin surpasses $0.16, it might reach $0.18 and aim for $0.20. However, falling below $0.12 would negate this bullish forecast, possibly driving the price down to $0.11.

BlockDAG’s Roadmap and Dashboard Enhancements Attract Investors

BlockDAG’s updated dashboard has significantly influenced its ongoing $29.2 million presale success. This dashboard enriches the user experience by offering detailed market insights and simplifying complex blockchain operations. It includes features that display the user’s current rank, necessary investments to advance, and a leaderboard that fosters competitive spirit.

BlockDAG’s redesigned dashboard has played a crucial role in driving the remarkable success of its presale. The coin price has surged 700% from the initial offering, with market analysts predicting a $30 price by 2030. Additionally, BlockDAG’s comprehensive roadmap is structured into four phases, from initial development through to the mainnet launch. 

This includes the launch of the X1 Miner app, which simplifies the mining process with wallet functionality, send/receive options, and a performance leaderboard to encourage community engagement.

BlockDAG’s development plan is strategically divided into four key phases: it begins with foundational development, progresses through expansion via strategic partnerships, advances to the official launch, and concludes with the presale close and the mainnet going live. 

A significant feature of the roadmap is the introduction of the X1 Miner app, which aims to make the mining process more accessible through functionalities like a wallet, send/receive options, and a leaderboard to encourage community interaction.

BlockDAG Sets a New Standard in the Crypto Industry

While Ethereum deals with price volatility and Polkadot continues to develop its intelligent contract infrastructure, BlockDAG leverages its innovative dashboard and comprehensive roadmap to boost user engagement and attract significant investment. With a presale valuation of $29.2 million and over 9.2 billion BDAG coins sold, BlockDAG offers a promising investment opportunity in the blockchain space, poised for significant future growth.

Join BlockDAG Presale Now:

Website: https://blockdag.network

Presale: https://purchase.blockdag.network

Telegram: https://t.me/blockDAGnetworkOfficial

Discord: https://discord.gg/Q7BxghMVyu

The post BlockDAG’s Dashboard Upgrade Adds to Presale Hype Raising $29.2 Million Outshining Dogecoin and Avalanche appeared first on Metaverse Post.

Bitcoin liquid restaking protocol Lorenzo Protocol announced that it has forged a strategic partnership with Bitlayer, a Bitcoin Layer 2 scaling solution, to enhance growth and engagement within their respective ecosystems.

As part of the partnership, Lorenzo Protocol will integrate stBTC with Bitlayer, facilitating its use across various applications and yield-generating opportunities within Bitlayer’s DeFi ecosystem by implementing staker incentives. The outcome of this partnership will be a simultaneous increase in total value locked (TVL) for both Bitlayer and Lorenzo Protocol. This will create more yield opportunities for their respective community members and foster higher engagement across both ecosystems.

Additionally, under the new partnership, Lorenzo Protocol will utilize Bitlayer’s suite of ecosystem products, including Layer 1 Verification, which inherits Bitcoin security through BitVM, Trustless 2-Way Peg which combines DLC & BitVM to introduce innovative models surpassing traditional multisig, and Turing-Completeness that supporting multiple VMs and facilitating a fully EVM-compatible environment.

We’re thrilled to announce our partnership with Lorenzo @LorenzoProtocol, the first-ever $BTC liquid restaking platform! Lorenzo offers streamlined Bitcoin management with features like staking insurance, node operator credit scores, anti-slashing mechanisms, and validator… https://t.co/XxntZ84tP7

— Bitlayer (@BitlayerLabs) May 21, 2024

What Is Lorenzo Protocol?

Lorenzo Protocol is focused on creating a liquid restaking protocol on Bitcoin, with the goal of becoming the first platform for issuing, trading, and settling yield-bearing tokens via the Bitcoin staking protocol Babylon. Its platform links Bitcoin stakers with high-quality projects requiring liquidity and security.

Moreover, the Lorenzo Protocol offers efficient Bitcoin management and user protections like staking insurance, node operator credit scores, anti-slashing measures, and validator permits. These features promote integration and interoperability throughout the ecosystem, enabling the flow of liquidity and yield generation across various blockchains.

Recently, Lorenzo Protocol has integrated with Babylon to empower users staking Bitcoin to earn income from both the Proof-of-Stake (PoS) ecosystem and the Bitcoin Layer 2 network, simultaneously enabling the acquisition of liquid staking tokens for users.

The post Lorenzo Protocol Partners With Bitlayer To Boost Growth And Engagement Within Both Ecosystems appeared first on Metaverse Post.

The Algorand price prediction reveals a significant downturn, reflecting challenges. Meanwhile, the SEI V2 launch introduces a groundbreaking parallelized Ethereum Virtual Machine. Amid these developments, BlockDAG stands out as the best crypto presale 2024. 

Its upgraded dashboard enhances transparency and ease for investors, while low-code/no-code technology simplifies smart contract creation. With a presale figure of $29.2 million and a current price of $0.0085, BlockDAG promises a remarkable 30,000x ROI, positioning it as a leading contender in the crypto market.

Algorand Price Prediction: A Look at Recent Market Challenges

Algorand has experienced a significant downturn, with DeFi assets within its ecosystem falling to $151 million from a high of over $252 million earlier. This decline is reflected in the Algorand price prediction, which shows the TVL in ALGO terms has decreased to 851 million tokens. Key players like Folks Finance and Tinyman are also feeling the impact of these market conditions.

The Algorand price prediction becomes increasingly bearish as it recently plummeted by almost 50%, falling below key support levels. The token’s struggle is evident as it breached now facing potential further declines toward the $0.1485 level. This trend is underscored by technical indicators such as a nearing death cross in the EMAs, solidifying a cautious outlook in the Algorand price prediction.

Exploring the SEI V2 Launch: A New Era in Blockchain Technology

The SEI V2 launch marks a significant step forward in blockchain innovation, introducing a parallelized Ethereum Virtual Machine that enhances network performance. 

This launch is carefully structured in phases, beginning with a comprehensive governance approval process managed by Sei Labs engineers. These initial stages are crucial, ensuring that all optimizations identified during the public Devnet phase are integrated before full Mainnet adoption.

As the SEI V2 launch progresses, it brings considerable advancements to the ecosystem, facilitating a more stable, scalable, and efficient network. The deliberate, phased deployment allows for ongoing adjustments based on real-time data, optimizing the system to meet the demands of an increasing user base and ensuring robust performance across the board.

Unleashing Potential: BlockDAG Leads as the Best Crypto Presale 2024

BlockDAG is rapidly gaining traction with its enhanced features, captivating investors more than ever. The platform’s upgraded dashboard now offers a detailed transaction history and diverse digital payment options, investing tracking straightforward and efficient. This new level of transparency allows investors to effortlessly manage their investments and currency use, contributing significantly to the growing allure of BlockDAG in the crypto market.

Innovatively, BlockDAG has adopted the low-code/no-code technology, simplifying the blockchain development process. This advancement enables even those with limited programming skills to create smart contracts for meme coins and NFTs. With an array of customizable pre-designed templates, the platform makes it easy for users to craft unique digital assets. This user-friendly approach is quickly drawing in developers eager to delve into token and NFT creation without facing the usual technical hurdles.

The excitement around BlockDAG’s capabilities is evident, with its presale figures reaching an impressive $29.2 million and targeting $600 million in the coming year. Such robust growth highlights the significant investment opportunities it presents.

Priced at just $0.0085 with projections to climb to $1 by the end of 2024, BlockDAG positions itself as a leading contender in the crypto market. Its mix of cutting-edge technology and investor-focused enhancements make it an attractive prospect for those seeking substantial returns, with a potential 30,000x ROI for early backers.  

The Bottom Line

In summary, the Algorand price prediction shows a bearish trend, and SEI V2’s phased launch brings technical innovation. However, BlockDAG stands out as the best crypto presale 2024, with its upgraded dashboard, low-code/no-code technology, and impressive presale figures. With a 30,000x ROI potential, BlockDAG offers superior investment opportunities, making now the ideal time to invest.

Join BlockDAG Now!

Website: https://blockdag.network

Presale: https://purchase.blockdag.network

Telegram: https://t.me/blockDAGnetworkOfficial

Discord: https://discord.gg/Q7BxghMVyu

The post BlockDAG’s $29.2M Presale and Dashboard Upgrade Stand Out Amid SEI V2 Launch and Algorand Price Prediction appeared first on Metaverse Post.

Majuro, Marshall Islands, May 21st, 2024, Chainwire

Multipool, a leading innovator in the blockchain and cryptocurrency industry, announces corporate partnership with industry-leading global connectivity provider BSO, enabling ultra-fast low latency trading on Multipool. The combined tech offers users a comprehensive suite of fully decentralized trading tools delivering the best DEX price execution in the industry.

Fully utilizing BSO’s cutting-edge technology and direct access to financial market data centers, Multipool will offer the following features to users trading on the platform:

Equinix NY4 – a pivotal data center for secure connectivity within the North American financial markets trusted connectivity hub for NYSE trading.

Equinix TY3 – the gateway to Japan’s stock exchanges.

CME – the closest proximity to CME Globex trade matching engine.

Equinix LD4 – the interconnection nerve center for the UK’s stock exchanges.

“We are revolutionizing decentralized finance trading with an efficient, secure, and versatile solution tailored to meet the exacting demands of traders and investors. The era of rudimentary order execution mechanisms and subpar price execution is drawing to a close. By partnering with BSO, traders can expect a seamless DEX trading experience, underpinned by the critical connectivity and market access foundation we provide.” Wojciech Kaszycki, a Core Contributor at Multipool.

“For over two decades, BSO has been a trailblazer in global financial connectivity. We’ve consistently led the charge in identifying emerging investment classes, models, regions, and technologies. Whether it’s HFTs, Algo trading, Crypto, or now, decentralized finance (DeFi), we’ve recognized the need for enhanced connectivity early on, investing significantly to develop targeted solutions.” Michael Ourabah, BSO’s Chief Executive Officer.

On the cutting edge of Cryptocurrencies

Multipool provides financial traders & investors with the features of a centralized exchange on a fully compliant and stable decentralized platform for trading real-world assets (RWAs) and cryptocurrencies.

Multipool’s landmark capability is its fully decentralized on-chain order book, offering the precision of a traditional order book with deep levels of liquidity, optimal price execution and exceptional trading efficiency. Other key features include decentralized limit ordering and hybrid order execution, zero price impact auctions, P2P Repo Lending and trustless RFQs (request for quotes).

Stay in the know

Multipool’s vision for unlocking DeFi’s untapped potential is outlined in its whitepaper, which explains Multipool’s governance, protocol capabilities and tokenomics for its native token, $MUL.

Multipool’s LBP is now live on Fjord Foundry – Fjord Foundry $MUL LBP

To learn more about Multipool and its features, users can visit:

Website – www.multipool.finance

Telegram – t.me/multipoolfi

X – www.x.com/multipoolfi

About Multipool

Multipool is a cutting-edge decentralized exchange (DEX) transforming the trading landscape for real-world assets (RWAs) and cryptocurrencies. Multipool is designed for fairness and equality, featuring a fully decentralized on-chain order book, deep liquidity through dynamic bracket pools, and seamless trading of RWAs and cryptocurrencies. Utilizing world-class innovations including industry-first FIX APIs, low latency networks, zero price impact auctions, trustless RFQs, peer-to-peer repo lending, and MEV bot protection, Multipool sets a new standard in DeFi trading. Experience unparalleled efficiency and security in your trading journey with Multipool – The DEX with CEX appeal.

https://www.multipool.finance/

About BSO

Founded in 2004 and serving the world’s largest financial institutions, BSO is a global pioneering infrastructure and connectivity provider, helping over 600 data-intensive businesses across diverse markets, including financial services, technology, energy, e-commerce, media and others.

BSO owns and provides mission-critical infrastructure, including network connectivity, cloud solutions, managed services and hosting, that are specific and dedicated to each customer served.

The company’s network comprises 240+ PoPs across 33 markets, 50+ cloud on-ramps, is integrated with all major public cloud providers and connects to 75+ on-net internet exchanges and 30+ stock exchanges. The team of experts works closely with customers in order to create solutions that meet the detailed and specific needs of their business, providing the latency, resilience and security they need regardless of location.

BSO is headquartered in Ireland and has 11 offices across the globe, including London, New York, Paris, Dubai, Hong Kong and Singapore.

www.bso.co

Contact

Public Relations ManagerAngie HermosaMultipoolpress@multipool.finance

The post Multipool Partners with BSO Enabling Ultra-fast Low Latency Trading appeared first on Metaverse Post.

Founder of the automated Ethereum-based cryptocurrency exchange Uniswap, Hayden Adams commented on the upcoming vote by the United States House of Representatives on the Financial Innovation and Technology for the 21st Century (FIT21) Act anticipated this week. He remarked that the changing approach to centralized finance (CeFi) and decentralized finance (DeFi) signifies a notable advancement for the entity in cryptocurrency regulation.

The FIT21 Act represents a bipartisan bill designed to regulate CeFi and prevent incidents similar to the FTX collapse. It is aimed at streamlining cryptocurrency regulation across the United States by establishing a clear regulatory framework for digital assets, considering their unique characteristics, and ensuring consumer protection.

In a post on the social media platform X, Hayden Adams highlighted the bill’s view on DeFi as it states that “a person shall not be subject to this Act… in relation to decentralized finance.” The bill also calls for research on DeFi, paralleling the European Union’s approach to cryptocurrency regulations with the MiCA framework.

Hayden Adams emphasized that Congress’s acknowledgment that CeFi and DeFi are entirely different and demand distinct approaches represents a notable development and a positive step toward the regulatory progress in the country.

Uniswap Labs, a key contributor to the Uniswap Protocol and its ecosystem, received a Wells Notice from the Securities and Exchange Commission (SEC) last month. This notice served as a warning that federal regulators may initiate a lawsuit against the company as part of a broader ongoing regulatory crackdown on DeFi.

This week, the House plans to vote on FIT21, a bipartisan bill that aims to regulate CeFi to stop another FTX. On DeFi, the bill says “a person shall not be subject to this Act… in relation to decentralized finance” and proposing a study of DeFi in the meantime, similar… pic.twitter.com/iPuTYTaojp

— hayden.eth (@haydenzadams) May 20, 2024

Digital Asset Industry Supports FIT21 Act With Backing From Coinbase, Kraken, And Andreessen Horowitz

FIT21 Act has garnered support from a coalition of digital asset organizations and companies, which includes Coinbase, Kraken, Andreessen Horowitz, among 50 others. Supporters argue that it offers a much-needed regulatory framework for the digital assets industry, addressing a current gap in regulation within the United States.

The bill sets criteria for identifying whether a digital asset is a security or a commodity. It broadens the authority of the Commodity Futures Trading Commission (CFTC) to register and oversee digital commodities. Additionally, it mandates collaboration between the CFTC and the SEC to elaborate regulations for assets that don’t fit existing classifications.

The post Uniswap Founder Hayden Adams Highlights FIT21 Act’s Approach To CeFi And DeFi As US House Of Representatives Vote Nears appeared first on Metaverse Post.

One of the winners of this ongoing resurgence in crypto is Playbux, which is not just a gaming project but an all-encompassing platform that combines trading, music, movies, casinos, e-commerce, NFTs, DeFi, and gaming to build the largest Web3 entertainment platform in the world.

Earlier this month, Playbux achieved a monumental milestone by releasing its alpha version. Players can join this version and go on quests to win rewards that include Pebbles and NFT mystery boxes. Those who join the alpha version also become eligible for an airdrop. 

What makes this startup from the Visa Accelerator Program 2023 exciting is the wide variety of services available to users, such as Play-to-Earn, Walk-to-Earn, Watch-to-Earn, and more, with PBUX token, Brick, and Pebble acting as the in-game currency system.

With the backing of Binance Labs, the investment arm of the world’s largest crypto exchange, Playbux is working on gradually becoming a prominent player in the space, as evident from the bullish on-chain data.

According to Dune Analytics data, Playbux has already attracted more than half a million users, surging from about 1,000 to nearly 600K total unique users in just over a year.

Even more bullish is the platform’s total transactions, which has surpassed 18.2 million. Daily transactions have slowed down since March 2024 but are still above 10,000. Similarly, new user acquisition dropped to 10,600 in April, down from almost 70K earlier this year. However, these numbers are still strong and have been growing since the second half of 2023.

While Playbux might not be adding new users at a rapid pace, daily user and engagement metrics have been on an uptrend since December. 

If we take a look at the NFT statistics of Playbux, a grand total of 292,845 NFTs have been minted so far by more than 42,000 NFT minters. The project first made its entry into the NFT world with its Early Bird Collection, which generated 1600 BNB in trading volume and became the top-trending collection on the popular NFT marketplace Opensea.

Compared to other projects in the Play-to-Earn category, Playbux stands out in both daily active users and daily transactions. In the NFT realm, Decentraland and The Sandbox, which dominated the 2021 bull market as metaverse projects, are now also falling behind Playbux in terms of NFT holders and NFT holdings.

This is just the beginning, with Playbux planning to make its multiplayer metaverse accessible to everyone in the coming quarters. By early next year, it will enable users to not just create games on their phones but even earn from the sales. With this bold roadmap and crypto starting to attract mainstream attention thanks to the bull market, there are clearly exciting things ahead for the Playbux community.

The post Playbux Emerges as Web3’s New Leader, On-Chain Data Shows appeared first on Metaverse Post.

Tokyo, Japan – May 2024 – The Shibuya Creative Tech Committee and EDCON (Community Ethereum Development Conference) are excited to announce a strategic partnership to create a subcommittee that will enhance EDCON 2024, which will be supported by the Shibuya City Ofce. This collaboration will unlock new opportunities in the global art and tech community by combining expertise and fostering creativity through innovative programming.

Yoshiro Tasaka, the Director Global Strategy Division from the Shibuya City Ofce expressed his enthusiasm for this partnership, stating: “Blockchain technologies can contribute to fnding alternative ways to govern cities and neighborhoods. EDCON allows us to create an internal and international community to develop blochains in Shibuya. We hope Shibuya can be the hub for blockchain.”

A key feature of the collaboration will be the scavenger hunt across Shibuya City in July, designed to let participants uncover the city’s blend of culture, entertainment, and technology. The scavenger hunt will guide attendees through Shibuya’s iconic landmarks, hidden gems, and tech hubs, engaging them with clues, challenges, and interactive experiences at each stop. Participants will have the opportunity to collect unique digital tokens and exclusive prizes while deepening their understanding of Shibuya’s rich artistic and technological heritage. This immersive experience will weave seamlessly into the broader EDCON 2024 agenda, offering a playful and educational way to explore the city.

EDCON 2024 will emphasize Ethereum’s foundational principles of decentralization and community collaboration. The conference, scheduled for July 24-30, will feature a variety of events at the United Nations University and Yoyogi National Gymnasium:

Community Events (July 24th-28th): Diverse activities to engage and connect attendees, building relationships among tech enthusiasts.

Super Demo Day (July 27th): A platform for emerging startups to present their ideas to investors, developers, and key industry players.

Ethereum Quorum & Workshops (July 28th): In-depth discussions and interactive sessions on blockchain technology and decentralization.

Main Event (July 29th-30th): Thought-provoking talks and exhibitions at Yoyogi National Gymnasium, marking the frst time this iconic Olympic venue will host a tech conference.

The conference will also include a founders’ reunion to celebrate Ethereum’s 10-year anniversary, offering unparalleled networking opportunities with pioneers who have shaped the blockchain landscape. 8ships, the experience partner advising Shibuya Startup Support, will bring their expertise to the subcommittee, ensuring the event provides accessible web3 education for all attendees.

This partnership will help EDCON 2024 stand out as a leading conference, highlighting Shibuya as a vibrant hub for creative technology. Supported by sponsors and Shibuya, EDCON 2024 offers free passes, providing open access to expand the Web3 community in Japan and beyond. Apply for your ticket here: https://edcon.io/ticket/

About Shibuya Creative Tech Committee:

The Shibuya Creative Tech Committee nurtures innovative technologies across the Shibuya area, connecting its diverse cultural assets through digital advancements.

About EDCON:

EDCON is a global Ethereum Developers Conference emphasizing decentralization, community collaboration, and innovation. EDCON 2024 will be held from July 26-30 at the United Nations University and the Yoyogi National Gymnasium.

The post Shibuya Creative Tech Committee and EDCON Announce Partnership to Form Subcommittee for EDCON 2024 appeared first on Metaverse Post.

As the U.S. Securities and Exchange Commission (SEC) approaches crucial deadlines this week to determine whether to approve exchange-traded funds (ETFs) linked to Ether, the native coin of the Ethereum blockchain, the cryptocurrency community is holding its collective breath. VanEck’s application for an Ether spot ETF is due to the SEC on May 23. ARK 21Shares’ application is due on May 24.

While the SEC approved several spot Bitcoin ETFs in January after a years-long battle, many analysts expect a rockier road ahead for Ether ETF approvals. Regulators appear to be taking a more cautious stance when it comes to the world’s second-largest cryptocurrency, hesitating on a decision that could have profound implications for the future of Ethereum and the broader crypto landscape.

What Is an ETF?

To understand the SEC’s reservations, it’s important to first examine what an ETF is and why approval for a commodity like Ether is not a simple matter of rubber-stamping applications. We’ll also explore the unique complexities surrounding Ethereum that are giving regulators pause.

An investment fund that trades on exchanges like individual stocks but owns assets like stocks, bonds, or commodities is called an exchange-traded fund (ETF). Investors may easily obtain diversified exposure to a certain asset class or index by using exchange-traded funds (ETFs).

Photo: Centerpoint

While similar in structure to mutual funds, ETFs offer some distinct advantages. They can be traded throughout the day like stocks, have lower fees thanks to passive management tracking an index, and allow for tax-efficient investing since they generate fewer capital gains. These benefits have fueled a boom in ETF popularity, with over $11 trillion invested globally by the end of 2023.

Photo: American Century Investments

The Regulatory Tightrope for Crypto ETFs

SEC approval of an ETF that tracks a specific cryptocurrency, such as Ether, requires authorities to be persuaded that the underlying digital asset acts more like an item of trade than a security. This distinction is important because securities are governed by considerably tighter regulations and monitoring to safeguard investors.

Historically, the SEC has been reticent to approve crypto ETFs, shooting down nearly a dozen proposals between 2018-2023 over concerns that cryptocurrencies are too volatile, lack robust oversight, and may be ripe for price manipulation and fraud.

However, a shifting legal landscape and increasing regulatory clarity around Bitcoin paved the way for the recent wave of Bitcoin ETF approvals. In August 2023, a federal appeals court ruled that the SEC had acted in an “arbitrary and capricious” manner in denying a Bitcoin ETF conversion request from Grayscale Investments. This legal setback forced the SEC’s hand, leading to the first-ever U.S. spot Bitcoin ETF approvals this year.

The Ethereum Complexities

While Bitcoin ETFs still faced headwinds, Ethereum presents an even more complex web of issues giving regulators pause. Cryptocurrencies like Bitcoin are intended as decentralized digital money and stores of value. Ethereum, on the other hand, has evolved into a broad ecosystem supporting an array of decentralized applications, smart contracts, and even its own currency in Ether.

Photo: Ether price April-May 2024

Key to the SEC’s concerns is whether Ether should be classified as a security or commodity. SEC Chair Gary Gensler has publicly labeled Bitcoin a commodity but has been more circumspect when it comes to Ether’s status. At the heart of the matter is the degree of decentralization within the Ethereum network and the level of influence wielded by its co-founders, developers, and governance processes.

The SEC appears wary that Ether may potentially meet the criteria to be classified as a security since it was initially funded through an initial coin offering (ICO) and owes much of its development to a handful of entities like the Ethereum Foundation.  This ambiguity has led to a clash between the SEC, which treats Ether as a potential security subject to strict rules, and the Commodity Futures Trading Commission (CFTC), which states Ether should be regulated as a commodity.

Another complexity arises from Ethereum’s move to a proof-of-stake consensus model in 2023. Ether holders can now “stake” their tokens to help validate transactions on the network and earn rewards akin to earning interest or dividends. Some analysts worry this staking mechanism could strengthen arguments that Ether acts more like a security or investment contract.

Regulatory Hesitancy and Potential Consequences From SEC’s Decision

Many analysts believe that, in order to avoid racing into unknown terrain, the SEC will either postpone or refuse findings on Ether ETF filings due to these complex difficulties. According to Mark Connors of 3iQ Corp, any progress in the realm of digital assets would probably need to go via the legal system as long as Gary Gensler is the chairman of the SEC.

A denial could set up another high-stakes legal battle akin to the Bitcoin ETF saga. JPMorgan analysts speculate the template will be similar – SEC denial, followed by legal challenges that the agency may ultimately lose in court. However, they caution that regulators may be “wary of a slippery slope” where approving Ether ETFs opens the floodgates to a wave of other cryptocurrency products.

According to Decimal Digital Currency’s Roshan Shah, authorities are probably moving slowly since ETF investors are still getting to know crypto, and the situation with ether is far more complicated.

If Ether ETF applications are rejected, at least in the short term, it could dent investor confidence and spark volatility in Ether’s price as money rotates back to Bitcoin and other cryptos with clearer regulatory paths. Currently, the Grayscale Ether Trust trades at a 24% discount to its net asset value, reflecting low expectations of an SEC approval this month.

ETF-related Regulatory Reforms on the Horizon?

While approval seems unlikely this week, many believe it’s only a matter of time before Ether ETFs get a green light, whether through legal action or potential legislative reforms.

The crypto industry is lobbying Congress for clearer rules around digital assets. One proposal could create a new asset class between commodities and securities to encompass cryptos like Ether. 

Additionally, with a new election cycle in 2024, a change of the guard atop the SEC could usher in fresh perspectives that are more open to crypto innovation. As Kinga Bosse of MPCH notes, “There’s a sliver of policymakers who really understand crypto. But a lot more have questions about the effects of crypto on the global landscape.”

Ultimately, while regulators may kick the can further down the road, the soaring growth and mainstream integration of cryptocurrencies will likely necessitate compromise and clearer regulatory guideposts. For Ethereum and its native Ether token, this current period of uncertainty may simply be the prelude to wider acceptance and easier access for investors through SEC-approved ETF products.

The post Ether ETF Applications Under Scrutiny: How SEC’s Upcoming Decision Could Shape the Future of Cryptocurrency Investments appeared first on Metaverse Post.

BEFE Coin is starting to make its rounds in the meme currency world and, in recent times, has hit every top chart within the 100s, gaining more investors and fans. Let us check what the difference in the BEFE ecosystem is compared to other meme-based currencies.

Exploring BEFE’s Ecosystem

BEFE, the sensational new meme-focused altcoin king, never ceases to amaze with the increase in market value and ecosystem growth that keeps the community from being idle at bay. Originally and transparently launched on the chains of Ethereum, BNB, and Solana, it is indexed at $0.0001153 by May 21, 2024, which has appreciated by 16.5% over the day. In December 2023, the currency had already established a record high of $0.001128. The market capitalization is $11 million, and the 24-hour working volume is per day $294,415, so BEFE’s ecosystem continues to grow synchronously. Most of the top decentralized and centralized exchanges have now supported the virtual currency: AscendEX, Gate.io, Uniswap, MEXC, and PancakeSwap. BEFE/USDT is the most active trading pair in PancakeSwap. 

At this very moment, in the middle of the BEFE project, it is a heated must, which you cannot miss due to its high social media visibility in Telegram and Twitter, apart from its careful token distribution. 

BEFE’s Expansion vs. Top Meme Based Altcoins

BEFE has expanded quite quickly, considering it has only been around for six months. BEFE has outperformed DOGE, SHIB, and PEPE by 33%, aside from the price in the past hour and 35% throughout the previous week. This demonstrates the degree to which individuals have high trust in BEFE.

BEFE’s daily trading volume is about $290,000, which is little compared to the billions of dollars that go into and out through the exchanges every day for DOGE, SHIB, and PEPE. Nevertheless, there seems to be a considerable uptake. The volume will increase in direct proportion to the number of individuals who become aware of BEFE and begin making investments in it. The assurance of BEFE’s steady liquidity reduces the likelihood of unpredictable, abrupt swings in the product’s price and supports somewhat consistent pricing. In comparison to the other meme currencies, BEFE may have been more successful in capturing that limited overall supply. Given that there would be fewer tokens accessible, each prospective BEFE token would be valued significantly more when there are higher sales, which might work to its benefit.

Is BEFE Suited for Long-Term Growth?

Overall, BEFE-like meme cryptocurrencies have an increasingly strong grip on the public, mostly because it is available everywhere and because it has a strong speculative current, just like other meme coins. Meme cryptocurrencies are highly volatile and involve a high risk. Hence, research is absolutely necessary before investing in them.

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

The post BEFE Coin: A Rising Force in the Top 100 Meme Coin Rankings appeared first on Metaverse Post.

It’s altcoin season, and the crypto market is bracing for a rally again. Experts and investors are fixated on the charts, and it’s ‘lights out and away we go’ for altcoins in the race to profits. However, certain promising crypto coins stand out in the crowd of altcoins. These crypto gems are dark horses that could outshine the most popular coins, and many veteran crypto analysts are pointing at Bitgert Coin (BRISE) as the leader of the herd.

The Bitgert Coin has recorded over 40,000% in gains since its launch, and it is making waves again with its growing followership and partnerships. The coin spots exciting features that have not gone unnoticed by experts. Now, a 600% Bitgert price uptrend projection is making news headlines, and we have information on that. Read on.

High Demand and Superior Transaction Speed: Bitgert Token Set for Surge

The crypto market is heavy on the Bitgert project right now, and it can only mean a price surge for the BRISE token. With the increasing need for a reliable blockchain that encourages productivity and creativity, the Bitgert network comes in handy and in high demand for creators in the crypto-verse.

Bitgert has a lightning 100,000 transaction speed that beats many, if not most, of the blockchains in the industry–and it’s free. Traders also enjoy a secure environment where they can transact and trade their assets.

These features have become hard to come by in the crypto-verse, and the entire market is excited to jump on the Bitgert project.

Earn Rewards by Joining the Bitgert Community

A community is one of the backbones of a successful crypto project; Bitgert has one and rewards you for being a member. Joining Bitgert’s large community of more than 600,000 BRISE token holders allows you to earn from the project through staking without breaking a sweat. The Bitgert project returns a guaranteed 6% profit on every BRISE portfolio at the end of the month.

If you have a Bitgert portfolio of 100,000 BRISE tokens, you can expect an extra 1,000 BRISE tokens in a month.

Bitgert: Expanding Defi Influence to Draw In Users

While many investors are fascinated by Bitgert’s blockchain and community features, some experts are particularly wowed by how it continues to stretch its influence in the crypto-verse. They believe these partnerships create more use cases for the Bitgert Coin (BRISE).

The partnerships cut across different sectors of Defi. There’s the partnership with Rehide.io to scale security and privacy; there’s the one MemeMakersMFs to draw in meme creators and bring more fun to the project, and a lot more.

Bitgert (BRISE) is currently priced at $0.0000001513, which experts believe is its lowest support before a major boom.

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

The post Breaking News Alert: Bitgert Coin’s Price to Surge by Over 600% – The Ultimate Crypto Gem appeared first on Metaverse Post.

Layer 2 blockchain platform Optopia (OPAI), tailored for AI Agent applications, officially announced the launch of its mainnet and the initiation of mainnet interactive activities.

After the Optopia mainnet launch, users engaging with the mainnet can start earning X-Points. These points are accrued by consuming GAS on the mainnet and serve as important credentials for future airdrops, highlighting users’ involvement in Optopia’s growth. X-Points can be obtained through various interactions with the mainnet. However, users can earn double X-Points while engaging with ecosystem interactions.

Users are encouraged to engage with the mainnet within 48 hours of its launch to receive full refunds for their GAS usage. Specifically, from 12:00 pm UTC on May 21st to 12:00 pm UTC on May 23rd, all GAS consumed by users interacting with the Optopia mainnet will be completely reimbursed.

All X-Points will be allocated to users’ addresses immediately upon interaction. Additionally, any GAS consumed within 48 hours following the mainnet launch will be reimbursed within 48 hours after the campaign concludes.

Optopia also has extended an invitation to Web3 projects to become part of its ecosystem. Approved projects will enable users to earn double OPAI X-Points during mainnet interactions, encouraging greater engagement and participation.

Optopia Mainnet is LIVE!https://t.co/QX75lkqhKp pic.twitter.com/1QYwbqc0m5

— Optopia (@Optopia_AI) May 21, 2024

What Is Optopia? 

Optopia is built on Optimism’s OP Stack and leverages Arweave for permanent data availability (DA). It receives technical support from 4EVERLAND. With its compatibility with the Ethereum Virtual Machine (EVM), Optopia allows existing Ethereum developers to effortlessly migrate their smart contracts and applications to this blockchain.

On Optopia, network development is a collaborative effort involving intent publishers, AI agents, developers, and OPAI holders. Participation in building, managing, and utilizing AI applications centered around OPAI tokens is open to anyone, enabling the generation of corresponding profits.

Previously, Optopia initiated community airdrops for both the OPStack ecosystem and the 4EVERLAND ecosystem. Users can verify the community airdrop quantities on the official website.

The post Optopia Launches Its Mainnet, Inviting Users To Participate In Activities And Earn X-Point Rewards For Airdrop appeared first on Metaverse Post.

The cryptocurrency market is buzzing with excitement as Retik Finance (RETIK) makes headlines as the top gainer of the day. Following its recent debut on Uniswap and several centralized exchanges (CEX), RETIK has experienced a meteoric rise, captivating the attention of investors and enthusiasts alike. In this article, we delve into the factors contributing to the spectacular performance of RETIK, the features that make it stand out in the decentralized finance (DeFi) landscape, and the potential implications for its future.

Unveiling Retik Finance (RETIK): A New DeFi Contender

Retik Finance (RETIK) is an emerging player in the DeFi sector, positioning itself as a disruptive force with innovative solutions aimed at democratizing access to financial services. The project is built on the Ethereum blockchain, leveraging smart contract technology to offer a suite of decentralized financial products. Retik Finance’s mission is to provide users with greater control over their financial destiny through transparent, secure, and efficient financial tools.

Key Features and Offerings

RETIK DeFi Crypto Cards: The flagship product of Retik Finance, these crypto cards offer unparalleled convenience and flexibility, allowing users to seamlessly conduct cryptocurrency transactions. The cards support multiple cryptocurrencies and provide cashback rewards, making them an attractive option for everyday use.

Smart Crypto Payment Gateway: This feature enables businesses to accept cryptocurrency payments efficiently and securely, facilitating broader adoption of digital currencies in commerce.

AI-Powered Peer-to-Peer (P2P) Lending: Utilizing artificial intelligence, Retik Finance offers a robust P2P lending platform that connects borrowers and lenders directly, ensuring competitive interest rates and enhanced security.

Multi-Chain Non-Custodial Highly Secured DeFi Wallet: This wallet supports various blockchain networks, providing users with a secure and user-friendly interface to manage their digital assets.

The Launch: Uniswap and Centralized Exchange Listings

On May 21, 2024, at precisely 12 PM UTC, Retik Finance (RETIK) made its debut on Uniswap, one of the largest decentralized exchanges (DEX) in the world. The launch was met with overwhelming enthusiasm from the crypto community, driving significant trading volume and immediate price appreciation. Within hours, the price of RETIK soared, marking it as the day’s top performer. The Uniswap launch was a pivotal moment for Retik Finance. Uniswap’s decentralized nature allows users to trade directly from their wallets, providing immediate liquidity and accessibility. This democratized trading platform enabled a broad base of investors to participate, fueling the initial price spike. Shortly after the Uniswap debut, Retik Finance (RETIK) was listed on several major centralized exchanges. These listings expanded the reach of RETIK, introducing it to a wider audience of retail and institutional investors. The convenience and security associated with CEX platforms further boosted investor confidence, contributing to the token’s rapid price increase. Centralized exchanges play a crucial role in the cryptocurrency ecosystem by providing enhanced liquidity, regulatory compliance, and user-friendly interfaces. The simultaneous listings on multiple top-tier exchanges created a perfect storm, amplifying the buying pressure and driving RETIK’s price to new heights.

Phenomenal Price Surge

Following its launch on Uniswap and subsequent CEX listings, RETIK experienced an extraordinary price surge. The token’s value skyrocketed, with initial gains exceeding 900% within the first 24 hours of trading. This impressive performance positioned RETIK as the top gainer of the day, drawing significant attention from the cryptocurrency community.

Factors Driving the Price Surge

Several factors contributed to the remarkable price increase of RETIK:

Strong Community Support: Retik Finance has cultivated a dedicated and enthusiastic community. Active participation in governance decisions, promotional activities, and social media engagement has played a crucial role in driving demand for RETIK.

Successful Presale Campaign: Prior to its public launch, Retik Finance conducted a highly successful presale campaign, raising over $32 million and witnessing a 400% surge in participation. This strong financial backing and investor confidence laid a solid foundation for its market debut.

Innovative Product Offerings: The unique features and solutions offered by Retik Finance set it apart from other DeFi projects. The RETIK DeFi Crypto Cards, AI-powered P2P lending platform, and secure multi-chain wallet resonate well with users seeking advanced and user-friendly financial tools.

Market Impact and Future Prospects

The successful launch and subsequent price surge of Retik Finance have broader implications for the cryptocurrency market. It underscores the growing interest in DeFi projects and the potential for innovative solutions to capture market share. The performance of RETIK also highlights the importance of community engagement, strategic partnerships, and robust financial backing in driving a cryptocurrency’s success.

Long-Term Potential

The future looks promising for Retik Finance as it continues to build on its initial success. The project’s roadmap includes several ambitious plans aimed at enhancing its ecosystem and expanding its user base. Key initiatives include:

Expansion of Product Offerings: Retik Finance aims to introduce new products and services, such as decentralized insurance and advanced staking options, to provide users with a comprehensive DeFi experience.

Integration with Alternative DeFi Protocols: By integrating with other DeFi protocols, Retik Finance seeks to enhance interoperability and provide users with greater flexibility in managing their assets.

Security and Scalability Enhancements: Continuous improvements in security measures and scalability solutions will ensure that Retik Finance can handle increasing user demand while maintaining a secure environment.

Community Development Programs: Retik Finance plans to launch various community development programs, including educational initiatives and reward-based activities, to foster greater engagement and adoption.

Conclusion

Retik Finance (RETIK) has established itself as a top performer in the cryptocurrency market, thanks to its successful Uniswap launch and CEX listings. The project’s innovative DeFi solutions, strong community support, and strategic planning have driven significant interest and investment. As Retik Finance continues to develop and expand its offerings, it is poised to make a lasting impact on the DeFi landscape, offering substantial opportunities for investors and users alike. The future of Retik Finance looks promising, and it will be exciting to watch its journey unfold in the coming months and years.

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 Top Crypto Gainer of the Day: Retik Finance (RETIK) Skyrockets Following Uniswap Launch and CEX Listings appeared first on Metaverse Post.

Grand Cayman, Cayman Islands, May 21st, 2024, Chainwire

Set to hit Mainnet this summer, Sui’s new Mysticeti protocol cuts consensus latency down to 390 ms.

Sui, the pioneering Layer 1 blockchain that offers industry-leading performance and infinite horizontal scaling, today announced the successful deployment of Mysticeti, its latest consensus protocol, on Sui Testnet. This significant breakthrough reduces consensus time on Sui’s public Testnet by 80 percent at 390 milliseconds while maintaining the protocol’s industry-leading throughput. This impressive demonstration confirms that Sui is the fastest consensus layer in the industry.

Developed from deep research into Byzantine fault tolerance (BFT) consensus mechanisms, Mysticeti represents a significant advancement from Narwhal-Bullshark, the consensus algorithms Sui launched into its Mainnet a year ago, achieving unprecedented transaction speeds and reducing CPU requirements for validators. This enhancement extends Sui’s impressive low latency performance to all transaction types across the network.

Sui’s uniquely object-oriented architecture enables the network to process transactions differently based on the characteristics of the transaction and the objects involved. On Sui, transactions involving only “owned objects”, such as peer-to-peer transfers, do not require consensus. Instead, they follow a fast-path execution that can be completed in a shorter time. In contrast, transactions involving the same shared object, for example, transactions involving marketplaces, auctions or collaborative game assets, do require consensus. In the past, that meant more processing latencies. Mysticeti changes that, by processing shared object transactions using an optimized version of BFT consensus. The Mysticeti design involves minimal cross-validator communication and fully takes advantage of network bandwidth in order to maintain high throughput.

“Mysticeti represents a major leap forward, not just for Sui but for blockchain technology as a whole,” said George Danezis, Co-founder and Chief Scientist of Mysten Labs which originated the Sui Network and pioneer of global research on BFT consensus. “It reduces consensus latency to what we understand to be its lower limits while retaining the benefits of high capacity and low computation cost. It also allows transaction processing faster than consensus within the same protocol, a feature unique to Sui. Mysticeti is yet another instance of Sui pushing the boundaries of what blockchain technology can achieve.”

Results on Testnet have been remarkable, demonstrating the capability to commit transactions with an 80% reduction in latency compared to Narwhal. The enhancement implemented by Mysticeti significantly decreases complexity and optimizes resource use, allowing the Sui network to handle tens of thousands of transactions per second with latencies well below one second.

These advancements are critical as Sui continues to cement its position at the pinnacle of blockchain speed and scale, and provide a seamless experience for developers and users at scale. 

“Mysticeti’s launch is the result of a successful collaboration between research, engineering, and our validator community,” said Dmitri Perelman, Head of Engineering at Mysten Labs. “The lessons we learned from building and tuning previous-generation consensus in production provided the context and inspiration for the researchers to come up with the new protocol. After the first Mysticeti prototype demonstrated undeniable performance superiority, the engineering team was fully onboard and the next-gen consensus implementation is being rolled out to Mainnet with the support of validators in a matter of months.”

Kevin Nelson, Co-Founder of Aftermath Finance said, “With Mysticeti, Mysten has proven that the DAG-based structure can surpass state-of-the-art performance in both consensus throughput and, importantly, latency. At Aftermath, we are excited to see Mysticeti roll out on testnet and even more excited for when it will touch the hands of our users with its release on Mainnet. Moreover, we are looking forward to taking advantage of Mysticeti’s new design to provide a better end-to-end experience on Aftermath.”

Greg Siourounis, Sui Foundation Managing Director added, “Low latency and fast transaction speeds have always been fundamental to Sui’s value as a top choice for builders, and with Mysticeti, the developer experience gets even better. This breakthrough once again showcases an ongoing and relentless focus on innovation, unlocking new possibilities for the types and quality of decentralized applications that can be built on Sui.”

The key innovations of Mysticeti are detailed in the newly published paper, “Mysticeti: Low-Latency DAG Consensus with Fast Commit Path,” which shows the scalability of this new technology and is available for review.

Contact

Sui Foundationmedia@sui.io

The post Sui Sets New Standard for Blockchain Transaction Speeds appeared first on Metaverse Post.

Web3 gaming platform and ecosystem Immutable announced that it has forged a strategic collaboration with the Web3 game distribution and publishing company Spielworks to collaboratively work on enhancing user acquisition and engagement through Spielworks’ Web3 gaming platform, Wombat, and its non-fungible token (NFT) marketplace, AtomicHub.

“We are thrilled to expand our partnership with Spielworks and AtomicHub to further the reach and impact of The Main Quest rewards program,” said Robbie Ferguson, President and Co-founder of Immutable, in a written statement. “This collaboration will not only provide additional rewards for players but also offer enhanced exposure and marketing support for games building on our platform,” he added.

The companies will collaborate to provide additional rewards and marketing support for games developed on Immutable, encompassing its Web3 gaming rewards program, The Main Quest. This will assist game developers in creating more engaging experiences for players.

As part of the partnership, AtomicHub will add support for Immutable zkEVM, Immutable Passport, and Immutable Checkout. This collaboration will offer players a streamlined experience for trading and collecting NFTs from games within the Immutable ecosystem. Additionally, AtomicHub will incentivize trading activity on Immutable games and introduce an Exposure Program, which will include special badges and tournaments.

Meanwhile, Spielworks’ Wombat application will integrate support for Immutable zkEVM, providing an additional distribution channel for Immutable games. This enhancement will enable players to qualify for rewards by engaging with their favorite titles. The Spielworks product’s dynamic social layer will be advantageous for Immutable users, as it will enable them to earn extra rewards by engaging with fellow players and building their social profiles and networks. These social mechanics are anticipated to boost engagement and retention rates for games developed on Immutable.

Spielworks operates as a web3 gaming ecosystem, encompassing Wombat, AtomicHub, and the Wasder social application tailored for gamers. With a user base exceeding 7 million across all its products and over 200 high-profile partnerships, Spielworks has established itself as a significant player in the gaming industry.

Immutable Partners With GAM3S.GG To Expand Access To The Blockchain Gaming Ecosystem

Immutable aims to empower players by facilitating digital ownership and ensuring a secure environment for the development of blockchain-based games. It offers zero-knowledge (ZK) scaling solutions, providing builders with diverse ZK-based scaling options. These encompass Immutable X, a rollup solution that utilizes StarkWare technology, and Immutable zkEVM supported by Polygon.

Recently, Immutable has collaborated with GAM3S.GG to facilitate the incorporation of its core functionalities into GAM3S.GG and grant users of GAM3S.GG with access to the Immutable ecosystem.

The post Immutable Join Forces With Spielworks To Enhance Rewards For Players appeared first on Metaverse Post.

Panama City, Panama, May 21st, 2024, Chainwire

Pioneering Bitcoin DeFi developer Velar has announced that it is partnering with BOB (Build on Bitcoin) to support the launch of Velar Artha, the world’s first Perpetual Decentralized Exchange (PerpDex) on Bitlayer’s EVM-compatible Bitcoin Layer 2.

BOB will provide technical support to optimize the development and mainnet launch of Velar Artha, drawing upon its best-in-class developer tooling, analytics, wallets, and blockchain infrastructure. This will accelerate the launch of the PerpDex and ensure that it is anchored by a strong technical foundation.

Velar Artha will form a first of its kind PerpDex within the Bitcoin ecosystem that combines the security of Bitcoin with the developer-friendly tooling facilitated by EVM compatibility. The decentralized exchange will go live on Bitlayer, the Bitcoin Layer 2 that supports the EVM. As one of the first strategic partners to assist with Artha’s deployment, BOB will play a critical role in overseeing its security, decentralization and UI/UX.

Velar CEO Mithil Thakore said: “Collaborating with BOB for the launch of Velar Artha PerpDex marks a pivotal moment for us. Being one of their initial projects, the first PerpDex underscores the mutual trust and shared vision between Velar and BOB. We’re excited to pioneer this journey together, pushing the boundaries of Bitcoin DeFi and delivering value to the Bitcoin community.”

Co-founder of BOB, Alexei Zamyatin, added: “We are excited to see Velar’s progress to launch on BOB. The Velar team is one of the high-potential Bitcoin DeFi builders in the space and we look forward to working with them on boosting their user and TVL growth as part of BOB’s DeFi ecosystem.”

BOB operates a hybrid L2 that combines the security of Bitcoin with the versatility of Ethereum. It enables developers familiar with EVM to start building on Bitcoin instantly. This allows projects to reduce time to market by taking advantage of a tailor-made Bitcoin developer suite.

Velar Artha will allow Bitcoin users to make perpetual swaps for assets including BTC and to open leveraged long and short positions. This will introduce a vital DeFi building block to the Bitcoin ecosystem whose composability will support further integrations. It will unlock dormant capital on Bitcoin while allowing DeFi innovation to flourish.

About Velar

Velar is on a mission to unlock Bitcoin’s true potential by developing a suite of powerful tools and products for DeFi. Known for creating the world’s first perpetual decentralized exchange (Perp DEX) on Bitcoin, Velar realizes the full value of Bitcoin-based assets within an ecosystem anchored by strong transaction finality and unrivaled security. 

Learn more: https://www.velar.com/ 

Contact

Avishay Litanipr@marketacross.com

The post Velar Collaborates With Build on Bitcoin (BOB) for PerpDex Launch appeared first on Metaverse Post.

The European Union is posing a significant threat to Microsoft, the IT behemoth known for Windows, Office, and the Azure cloud platform, regarding its Bing search engine and related generative artificial intelligence (AI) services. In the event that Microsoft does not reply to a request for information on any threats posed by Bing’s AI capabilities by May 27th, the EU has threatened to punish the company with up to 1% of its annual turnover in the region.

The threat stems from concerns raised by the European Commission under the recently enacted Digital Services Act (DSA). According to a May 17th post on the social media platform X (formerly Twitter), the Commission stated that it wants Microsoft to “provide information under the Digital Services Act on generative AI risks on Bing.”

We compel Microsoft to provide information under the Digital Services Act on generative AI risks on Bing.Bing may pose risks linked to generative AI, such as so-called ‘hallucinations’, deepfakes, as well as the automated manipulation of services that can mislead voters.#DSA

— European Commission (@EU_Commission) May 17, 2024

The Commission mentioned specific possible dangers associated with Bing’s generative AI features, such as “Copilot in Bing” and “Image Creator by Designer.” These dangers include “hallucinations,” in which artificial intelligence creates fiction that is presented as truth; “deepfakes,” which are artificial intelligence-manipulated synthetic media; and automated manipulation of services that might fool voters.

The European Digital Services Act

The Digital Services Act entered into force in November 2022. It is intended to control internet platforms and services. They include search engines, social media, and e-commerce. One of its primary objectives is to address the problems brought forth by artificial intelligence and other new technologies.

Large online platforms must evaluate and reduce any risks connected to their services since then. For example, those involving AI systems in accordance with the DSA. The Act also gives the European Commission the authority to punish non-compliant corporations and demand information from them.

Considering Microsoft’s huge presence in the EU, the possible penalty of 1% of its yearly sales is a substantial amount. Microsoft announced $211 billion in sales for the fiscal year 2023, with a significant amount going toward the EU market.

Should the present market trajectory persist, Microsoft’s earnings for the fiscal year 2024 would surpass $211 billion. A 1% charge in this case may be well over $2 billion, which would be a significant fine for any business, let alone one as big and well-funded as Microsoft.

Microsoft’s Position on AI Ethics

Microsoft has continuously stressed its commitment to responsible AI development and deployment, even though the firm has not yet officially addressed the EU’s particular request addressing Bing AI.

Brad Smith, the President of Microsoft, noted in a recent article the critical role of thoughtful policymaking and democratic processes in developing AI regulations. He stressed that AI regulations should be both effective and well-crafted, focusing on applications that pose the highest risks. Smith argued that these regulations must be outcomes-focused, ensuring they achieve their intended goals. Additionally, he highlighted the importance of creating regulations that can endure the rapid pace of technological advancements and adapt to the evolving expectations of society.

A specialised team and framework for responsible AI have also been formed by Microsoft; these are led by values including inclusivity, responsibility, safety, privacy, and openness. Natasha Crampton, the company’s Chief Responsible AI Officer, has emphasised how crucial it is to include responsible AI concerns across the whole system lifetime, from design to deployment.

The Bing AI Debate and Its Possible Dangers

Since their recent release, Microsoft’s Bing AI features—such as Copilot and Image Creator—have drawn a lot of interest and criticism. Extensive language models and generative AI approaches allow users to produce text, code, and graphics in response to natural language cues.

Although there is much room for improvement in terms of efficiency, creativity, and accessibility with these skills, there are also worries around possible abuse, prejudice, and the dissemination of damaging or false information.

The vulnerabilities connected with generative AI systems are highlighted by the EU’s specific worries about “hallucinations” and deepfakes. These algorithms have the ability to produce extremely realistic but completely fake information, which might be used as a weapon for evil intent like fraud, manipulation, or election meddling if sufficient protections and supervision aren’t in place.

Furthermore, the EU’s reference to the automated manipulation of services may allude to the possibility that AI systems would take advantage of or manipulate online platforms and services, compromising their reliability and integrity.

Finding the Correct Balance: Ethical AI Innovation and Governance in 2024

AI technologies are developing at a rapid rate, which makes responsible innovation and sensible regulation more and more important. While still promoting innovation, the EU has taken a proactive step in addressing the possible hazards linked with generative AI by moving to obtain information from Microsoft under the Digital Services Act.

Microsoft, as well as other major tech companies and pioneers in AI, will have to collaborate closely with legislators and regulators to find the ideal balance between encouraging innovation and averting any harm. This is probably going to require a mix of government supervision, industry best practices, and self-regulation.

​​Artificial Intelligence Specialist Gabriela Ramos at UNESCO underlined the importance of the moral compass in the area. She made the point that the world is about to change at a rate not witnessed since the invention of the printing press six centuries ago because these all-purpose technologies are revolutionising the way we live, work, and interact. Although AI technology has many applications, Ramos cautioned that in the absence of moral guidelines, it might reinforce prejudice and discrimination in the real world, exacerbate polarisation, and endanger basic freedoms and rights.

The corporation is in line with the goals of the EU under the Digital Services Act with its current efforts in responsible AI research and its support for deliberate, results-focused regulation. Microsoft might be able to overcome this obstacle and keep pushing the limits of generative AI by working with stakeholders and exhibiting a sincere dedication to moral AI practices.

EU inspection of Microsoft’s Bing AI demonstrates the increasing attention being paid to AI governance and legislation on a worldwide scale. Other countries and international organisations are also battling the difficulties presented by sophisticated AI systems, even if the European Union has led the way with the Digital Services Act and the upcoming AI Act.

The Biden administration in the US has started programs to encourage ethical AI development and use, as well as proposing an AI Bill of Rights. The National AI Advisory Committee has stressed how important it is to lower the risks associated with AI systems. At the same time, they don’t forget about innovation and competitiveness.

The Organisation for Economic Cooperation and Development (OECD) has created guidelines for AI. They take into account issues with human oversight, accountability, openness, and fairness. In addition, the UN has created a specific track on AI governance as part of its larger agenda for digital cooperation.

Ensuring the appropriate development and deployment of AI will be imperative in upholding public trust, protecting basic rights, and fully realising the promise of this technology as it becomes more and more ingrained in our everyday lives.

The post EU Warns Microsoft of Potential $2 Billion Fine Under Digital Services Act for Bing AI Risks appeared first on Metaverse Post.

The choice of a well-known Ethereum researcher to accept a paid advisory position at EigenLayer—a protocol that permits Ether “re-staking”—has generated a great deal of controversy in the cryptocurrency world around possible conflicts of interest. Reputable Ethereum Foundation researcher Justin Drake revealed that he has taken an advising role with EigenFoundation, the company that created EigenLayer. EIGEN tokens, which have a three-year vesting period and have the potential to be worth millions of dollars, are an important monetary incentive for this new profession.

I recently became an advisor to the EigenFoundation. I feel the community deserves transparency so here is an extended disclosure 1) The advisorship comes with a significant EIGEN token incentive which could easily be worth more than the combined value of all my other assets…

— Justin Ðrake (@drakefjustin) May 19, 2024

The disclosure has sparked questions about Drake’s capacity to conduct unbiased research and provide objective advice on the hazards involved with EigenLayer restaking. Some contend that having a major financial interest in the project might unreasonably sway his opinions and suggestions, putting his own interests at odds with those of the larger Ethereum community.

What Is EigenLayer?

A novel, AI-free, and free of plagiarism crypto economic layer called EigenLayer adds restaking to the Ethereum environment. This idea enables users to increase the usefulness of their staked capital if they have committed their Ether (ETH) to verify the Ethereum network. These stakers have the option to freely distribute their locked Ethereum using EigenLayer to validate and safeguard more decentralized apps, sidechains, and services inside the Ethereum ecosystem. 

This novel strategy departs from the conventional paradigm, in which staked Ethereum is used only for the upkeep of the main Ethereum system. By enabling their assets to carry out broader cybersecurity tasks across the Ethereum ecosystem, holders of supplementary incentives are rewarded. In order to create strong decentralized security without having to deal with the hassle of individually maintaining a separate validator system, developing applications may use EigenLayer’s pool of restaked ETH.

Photo: Messari

Drake has justified his choice, claiming that his job is specifically to look into the dangers of restaking. Despite the possible ethical implications, he insists that his basic position will “continue to lean critical of EigenLayer.” To prevent making the same mistakes that liquid staking has in earlier times, he sees this as a way to interact with and influence the restaking narrative from within actively.

Drake stated that he intended to act as an advisor to directly engage in restaking matters and steer EigenLayer from the inside out. In an extensive post on the social networking site X (formerly Twitter), he acknowledged that he believed he had not done enough study on liquid staking in his capacity as a researcher. He views this advising position as a chance to prevent making the same error twice when it comes to restaking.

The Reaction of Vitalik Buterin

Following the announcement, cryptocurrency broker Jordan Fish, commonly known as Cobie, confronted Ethereum co-founder Vitalik Buterin directly about the ethical implications of such arrangements. Fish posed a hypothetical query on Buterin’s stance on Ethereum Foundation staff members “collecting profound [monetary] deals” from Ethereum-based projects that “could violate interests with Ethereum,” citing EigenLayer as an illustration.

Though Buterin refrained from publicly responding, the debate has rekindled more general discussions on the possibility of issues of interest inside the Ethereum ecosystem, especially when new initiatives and protocols with their own tokenomics and financial incentives come to light.

Criticism Over the EigenLayer and Its Initiatives

Drake sought to refute claims made by others that EigenLayer is trying to “systematically ‘bribe’ or ‘corrupt'” the Ethereum Foundation in his defense. Just a small number of the foundation’s more than 300 members, he pointed out, had official connections to EigenLayer businesses. Drake said he believes his colleagues to be morally upright and that he does not “see the 1% of EFers formally involved with EigenLayer compromising their morals.”

Still, there’s more to the dispute than just Drake’s personal part. The community has scrutinized and criticized EigenLayer for its airdrop and token distribution policies. After receiving criticism for its first program’s excessive restrictions, the protocol airdropped an extra 28 million EIGEN tokens to users at the beginning of May.

The protocol’s initial airdrop was met with criticism from users for a number of reasons, such as a 15% allocation that was lower than anticipated, a non-transferable token structure, and stringent geo-blocking measures that prevented participation from many nations, including China, Russia, the United States, and Canada.

In order to allay these worries and involve a larger number of users who had engaged with the protocol during its testnet period, an extra airdrop was conducted. Regarding EigenLayer’s tokenomics and the payout to early backers and stakeholders, there are still unanswered concerns.

Several business leaders have supported Drake for his honesty throughout these discussions. Drake’s choice to publicly reveal his engagement and the accompanying financial incentives was applauded by Robbie Nakarmi, Director of Crypto Investments at Standard Chartered Ventures, and David Wong, co-founder of security firm zkSecurity.

Others, meanwhile, are unconvinced, seeing the large token incentive as a possible source of undue influence that may, even unintentionally, tilt Drake’s findings and recommendations in EigenLayer’s favor.

The Debates Over the Situation Keep Going

The case emphasizes how difficult it is to strike a balance between encouraging innovation within the Ethereum ecosystem and upholding moral principles, accountability, and openness. The possibility of conflicts of interest grows more complicated as new initiatives and protocols appear, providing innovative incentive systems and economic models.

According to one theory, financial incentives linked to a project’s success may unintentionally affect researchers, developers, or consultants, jeopardizing their neutrality and ability to make impartial decisions. On the other hand, proponents contend that these incentives promote ownership and accountability by encouraging active participation and a stake in the ecosystem’s long-term success and stability.

The discussion has larger ramifications for the Ethereum community and the larger cryptocurrency environment than just the particular example of Drake and EigenLayer. Strong governance structures, moral standards, and openness protocols are essential as the sector develops and more money pours into creative endeavors.

Some contend that in order to guarantee that monetary advantages and ties are honestly acknowledged and handled properly, it is necessary to develop explicit conflict of interest regulations and disclosure requirements. Some, on the other hand, support a more autonomous and community-driven strategy in which mutual observation and examination naturally serve as a check against any conflicts.

In the end, the debate over Drake’s EigenLayer advisory position highlights the difficult issues involved in striking a balance between incentives, innovation, and moral behavior in the quickly developing realm of digital and decentralized applications. These discussions will probably continue as the Ethereum ecosystem develops and grows, influencing the community’s eventual leadership and decision-making procedures.

The post Ethereum Community Split Over Researcher’s Advisory Role at EigenLayer Amid Potential Conflict of Interest Concerns appeared first on Metaverse Post.

Web3 content provider OP3N announced its collaboration with Avalanche, a smart contracts platform, and Avax DAO, the decentralized autonomous organization supporting Avalanche’s development, to launch the first-ever Web3 Content Creator House. The event is scheduled to take place from May 28th to June 2nd during the Non-Fungible Conference (NFC) in Lisbon.

“We’ve been on the lookout for an activation that really connects with different KOLs and communities on a more personal level. The content creator house is spot-on—it perfectly captures the essence of being part of our ecosystem and feels like the ideal way to show what we’re all about,” said Chimba, Ambassador Program Lead and bubits, Community Manager at Ava Labs, in a written statement.

Located on the outskirts of Lisbon, the OP3N House Lisbon will serve as a central hub for prominent Web3 content creators and KOLs (Key Opinion Leaders). It will host ten top influencers with a combined following of over 580,000 users, along with many additional visitors. This venue aims to encourage intensive collaboration and innovation in digital content creation. Additionally, OP3N will host The OP3Ning Party at the villa, providing exclusive networking opportunities.

The OP3N House is designed as a mobile initiative. It will travel to various locations worldwide in conjunction with major Web3 events to engage with new communities and gain cultural insights. This will allow the project to capture local flavors and incorporate them into content with global appeal.

This launch will enhance the visibility of participating partners and creators by showcasing their talents on a broader platform, drawing attention within the Web3 space. Additionally, it will establish new industry standards in the Web3 content sector, promoting innovative practices and elevating the quality and engagement of digital content.

OP3N Revolutionizes Web3 Content Creation, Empowering Growing Community Of Creators With OP3N Club Launch

OP3N is a Web3 content powerhouse. It supports a diverse community of creators by offering tools and resources to improve content creation, distribution, and monetization processes.

“Web3 content has yet to reach its full potential, and it’s high time for a change. We’re here to elevate this space by creating content that truly resonates—content that’s not just engaging but also reflects our deep passion for Web3,” noted Marco Lucchesini, co-founder of OP3N. “At OP3N, we understand that Web3 is fundamentally about capturing and maintaining attention. OP3N Club creators are experts not just at grabbing attention but holding it, transforming fleeting interest into lasting engagement,” he added.

The OP3N Club, introduced in conjunction with the physical house, comprises a select group of creators dedicated to raising the standards of Web3 content. This community is expanding rapidly, currently consisting of over 50 creators with a combined total of more than 1.5 million followers.

The post OP3N Launches Web3 Content Creator House ‘OP3N House’ In Lisbon, Powered by Avalanche appeared first on Metaverse Post.

Cryptocurrency exchange Bybit announced today that it has exceeded 30 million registered users worldwide, representing a significant milestone for the platform during its recent period of remarkable growth.

In 2024, Bybit’s market share in spot trading surged to an impressive 9.3%, up from 2% in 2023, representing a nearly 400% increase, as reported by the latest Kaiko Research quarterly report. This substantial growth firmly solidifies Bybit’s position as a leading cryptocurrency exchange.

“Reaching 30 million registered users is a humbling achievement, and it wouldn’t be possible without the unwavering support of our vibrant global crypto community,” said Ben Zhou, Co-founder and CEO of Bybit, in a written statement.”We are incredibly grateful for their trust and remain committed to providing best-in-class, reliable services tailored to local needs. Bybit actively collaborates with regulators worldwide to ensure compliance and responsible innovation,” he added. 

Bybit attributes its growth to its dedication to user security and trust. The company prioritizes asset safety by regularly publishing proof-of-reserve audits. Additionally, Bybit boasts an impeccable security record, having experienced no significant breakdowns or hacking incidents since its establishment in 2018. In the recent CCData Crypto Exchange Benchmark Report, which sets the industry standard for ranking risk in the digital asset exchange sector, Bybit has earned an ‘AA’ rating. Furthermore, Bybit has achieved a perfect 10/10 Trust Score from CoinGecko, evaluating the legitimacy of an exchange’s trading volume.

“Today’s milestone signifies more than just numbers, it’s a testament to our ongoing dedication to revolutionizing the crypto landscape,” emphasized Ben Zhou in conversation with MPost. “Bybit remains committed to shaping the future of crypto. We will continue to uphold the values of listening, caring, and improving, to serve our 30 million users with the most professional products.”

Bybit Prepares For Launch Of Bybit Web3 DEX Pro

Established in 2018, Bybit ranks among the largest cryptocurrency exchanges in terms of trading volume, serving a user base of 20 million individuals. The platform focuses on cryptocurrency trading, providing access to over 570 payment methods and supporting transactions in more than 60 local currencies. 

In 2024, the exchange broadened its range of offerings by introducing solutions such as the Airdrop Arcade, NFT Pro, and Inscription Marketplaces. These additions aim to streamline the user experience and enhance it by providing users curated opportunities to invest in and support a diverse array of tokens and projects. In the near future, the platform intends to launch the Bybit Web3 DEX Pro, a decentralized exchange platform powered by i-SMART data intelligence technology.

“As one of the world’s top three crypto exchanges, Bybit is committed to its vision of creating an open and accessible Web3. We’re actively working to create the most user-friendly and rewarding Web3 gateway,” said Ben Zhou to MPost. “Our approach involves simplifying Web3 by developing user-friendly products and services to lower the entry barrier for everyone and collaborating with regulatory bodies, and promoting healthy industry practices such as establishing compliant operational mechanisms and industry self-discipline standards. Bybit believes that advancements in technology, improved user experience, robust security solutions, and a clear regulatory environment will unlock Web3’s full potential for widespread adoption,” he added.

The post Bybit Surpasses 30M Registered Users, Emerging As Rapidly Growing Leader In Web3 appeared first on Metaverse Post.