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Binance Chain BSC tokens - BEP20 / DeFi Oracle Umbrella Network Migrates to Binance Smart Chain From Ethereum

« on: May 03, 2021, 07:45:40 PM »

Decentralized finance (DeFi) oracle Umbrella Network, which acts as a bridge between smart contracts and off-chain data feeds, is shifting its base from Ethereum to relatively low-cost smart contract platform Binance Smart Chain (BSC).

“Integrating with BSC offers Umbrella multiple advantages when compared to working on other platforms, including transaction fees that are over 90% lower than what is incurred on Ethereum,” the company said in an announcement on Monday. “For example, while the Ethereum transaction to get a data point onchain might cost $50, that same transaction might only cost 50 cents via BSC.”

So, with the BSC integration, Umbrella Network can run frequent data updates and provide the most current price for smart contracts using its feeds.

BSC has been on a tear of late, having surpassed Ethereum in terms of daily unique active wallets and transaction count early this year. The latter has become a victim of its own success this year, however, with record activity leading to network congestion and high transaction costs and increased demand for rival blockchains, layer 2 sidechains.

On Saturday, BSC processed 7.3 million transactions, nearly six times greater than Ethereum’s tally of 1.42 million, according to data source BscScan.com.

Per DeBank, PancakeSwap, the top BSC-based decentralized exchange, now has a total value locked of nearly $10.4 billion, making it bigger than the top three Ethereum-based DeFi protocols Uniswap, Compound, and DeFi.

“From our first product roadmap, we have planned to integrate into BSC, and the timing couldn’t be better, given the platform’s exploding ecosystem,” Umbrella’s Founding Partner Sam Kim said.

Some researchers have recently voiced concerns about possible centralization on BSC, as the smart contract platform relies on just 21 validators selected daily to approve transactions. Meanwhile, ether has more than 125,000 validators, data source BeaconScan shows.

However, Umbrella Network said they are confident that the shift to the less decentralized BSC would facilitate faster decentralization of its own network.

“Lower operating costs on BSC will allow Umbrella to move faster toward its goals of full decentralization by giving more members of the community the opportunity to participate as validators almost immediately,” Kim noted in the press release. “On Ethereum, that network’s prohibitive costs required node operators to have large capital bases to operate effectively.”

The oracle network plans to use the savings generated from the shift to BSC to deepen its data library. “The low-cost structure enables Umbrella to add more data points to the industry-leading 1,000+ data pairs already available via the Umbrella Network,” Kim said.

The migration kicks off Umbrella’s BSC Month event, during which the oracle network will announce new partnerships with over 10 BSC-based projects, beginning this week with the first three: Smoothy, BlockBank, and UnoRe.

In addition, Umbrella Network recently signed partnerships with cryptocurrency exchange Huobi, and Asia-based infrastructure provider HashQuark. In the future, the project envisions interoperability with other Layer 1 platforms, including Avalanche, Solana, Polkadot, and others, according to the press release.

https://cryptonews.net/en/news/defi/605946/

Suggestion Box / I would like to ask some questions from the moderator brothers.

« on: May 01, 2021, 02:05:45 PM »

I look forward to drawing the attention of the moderators and senior brothers of the forum to learn about some of the issues. When I first participate in the forum. Then I get a complete idea of the rules of the forum. I can already see that many users have shared some news related topics and displayed the main links of the news. I have shared some topics related to cryptocurrency in this forum. Displayed with the given source link. Even then I was given a warning. I have already been given a 20% warning. I would like to ask the moderator brothers and senior brothers what cryptocurrency related news can be shared in this forum.How can I not get any warning if I share the news. I have shared many news related topics and displayed them with the links provided there. But later on that source link doesn't work in any way. What should I do?How can I fix this?

Coinbase / Coinbase Debuts ‘Buy With PayPal’ Feature (but Read the Fine Print)

« on: April 30, 2021, 04:12:56 PM »

Coinbase is allowing U.S. users to buy cryptocurrency with their PayPal accounts in a major expansion of the exchange’s funding rails.

The option, announced Thursday, could cost unwitting users substantial sums in fees.

It is also another sign of crypto’s increasing mainstream acceptance. PayPal, long coy and standoffish about the sector, began allowing users to buy crypto on its own platform last year and has gradually expanded this service. Coinbase, one of the crypto industry’s oldest startups, recently listed its shares on the Nasdaq.
Coinbase users can now buy up to $25,000 in crypto daily using PayPal, according to the exchange’s settings page. They’ll lose nearly 4% of such purchases to PayPal-specific fees.

The PayPal integration is the third big-spender option alongside bank buys via automated clearing house (ACH), also capped at $25,000 daily, and wire transfers, which have no cap. Needing only the PayPal login to set up, it could offer users a workaround to Coinbase’s cumbersome linking process for credit and debit cards ($5,000 weekly maximum) and bank accounts.

Buying crypto through PayPal ranks among Coinbase’s priciest payment options (and Coinbase is already notorious in some circles for its high fees). The 3.99% fee is as expensive as debit card buys despite a far higher limit. And it is markedly higher than bank buy fees of 1.49%. Depositing U.S. dollars from PayPal into Coinbase triggers a 2.5% levy; ACH transfers are free.

Coinbase Debuts ‘Buy With PayPal’ Feature (But Read the Fine Print)
https://www.coindesk.com/coinbase-debuts-buy-with-paypal-feature-but-read-the-fine-print?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared

Coinbase / BTC Whale Moves 3,671 Bitcoin from Coinbase | Finance Magnates

« on: April 30, 2021, 04:07:54 PM »

BTC whales have accelerated the accumulation of the world’s most valuable digital currency as a Bitcoin user moved 3,671 BTC from cryptocurrency exchange Coinbase to a digital wallet on 29 April.

According to the latest data published by Whale Alert, a blockchain tracking and analytics firm, the total value of the BTC transfer stands at around $194 million. The mentioned Bitcoin transaction was recorded on blockchain.com at 19:40 UTC.

The latest transfer came after Finance Magnates reported a surge in Bitcoin outflows from leading crypto exchanges including Coinbase and Binance. BTC whales are moving the cryptocurrency in large amounts from exchanges to digital wallets.

In March 2021, nearly $1 billion worth of Bitcoin left Coinbase within 24 hours. Cryptoquant.com reported that more than 15,000 BTC left Coinbase during the third week of March 2021.

During the first week of April 2021, BTC whales moved 21,334 Bitcoin within 2 hours after the world’s largest cryptocurrency jumped above $60,000. As of writing, Bitcoin is trading near $54,200 with a market cap of more than $1 trillion. BTC remained unchanged during the last 24 hours but other digital currencies including Ethereum and XRP gained substantial value within a single day.

BTC Network Activity
The overall network activity of BTC has increased above the $1 trillion market cap and Bitcoin whales are playing an important role in that. According to the latest data published by crypto analytics platform Santiment, large BTC addresses accumulated nearly 90,000 coins during the first three weeks of April. A large part of the overall BTC supply has moved above the $1 trillion market cap. The latest increase in the network activity of the world’s most valuable digital asset and its whale activity is due to a jump in Bitcoin’s institutional adoption. Earlier this week, Japan’s leading gaming firm Nexon purchased 1,717 Bitcoin for approximately $100 million. MicroStrategy revealed in its latest quarterly report that the company is holding nearly $5 billion worth of Bitcoin.

BTC Whale Moves 3,671 Bitcoin from Coinbase | Finance Magnates
https://cryptonews.net/596564/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared

Crypto Exchanges / Hotbit crypto exchange shuts down for maintenance after attempted hack

« on: April 30, 2021, 04:04:21 PM »

Cryptocurrency exchange platform Hotbit has shut down all of its services after an attempted cyberattack on Thursday.

“Hotbit just suffered a serious cyber-attack starting around 08:00 PM UTC, April 29, 2021, which led to the paralyzation of a number of some basic services,” a notice on the platform’s website reads.

The hackers were reportedly unsuccessful in gaining access to Hotbit’s wallets but did manage to compromise the platform’s user database. Thus, the Hotbit team has advised customers to disregard any communication from entities claiming to be representatives of the exchange.

With all normal operations currently paused during the ongoing maintenance, the Hotbit also revealed that pending trading orders are canceled to prevent losses. Also, the exchange promised to bear any losses stemming from exchange-traded funds listed on its platform during the duration of the maintenance.

According to the Hotbit announcement, the maintenance will last for at least seven days with reports that the investigation and system upgrade could take as long as two weeks.

Addressing users on the exchange’s Telegram group, Alex Zhou, the chief security officer at Hotbit revealed that user funds were not affected by the attack, stating, “The attacker tried to break into the wallet server to steal funds but the action was identified and blocked successfully by Hotbit risk control system. All users' funds are safe.”

“At the same time, Hotbit is in the process of transferring all funds in hot wallet to cold wallet, the details of the whole integration could be seen on the chain,” he said.

Source: Etherscan
Indeed, data from Ethereum transaction monitoring tool Etherscan shows multiple token outflows from one of Hotbit’s known wallets to another address that currently holds about $14 million in several altcoins.

However, the length of time given for the maintenance is causing significant unrest among Hotbit users judging by comments on social media and on the platform’s Telegram channel.

Fears over the incident being an exit scam by the Hotbit team are palpable. Earlier in April, two major exchanges in Turkey went offline with their executives fleeing with millions in user funds. Both incidents have led to sweeping arrests by law enforcement agencies as well as plans by the government to establish a central custodian bank for cryptocurrency exchanges in Turkey.

Hotbit crypto exchange shuts down for maintenance after attempted hack
https://cryptonews.net/596568/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared

Ethereum News & Updates / Ether, Hitting New Records, Now Gets Quoted in Bitcoin Terms

« on: April 29, 2021, 06:38:01 PM »

Ether, the native cryptocurrency of the Ethereum blockchain and the second-biggest overall, reached a fresh record high early Wednesday, widening its lead over market leader bitcoin.

The trend looks set to continue, with ETH/BTC (the ether-bitcoin price ratio) breaking out to multi-year highs in a sign of increased capital flow into ether.

Ether rose to $2,800, surpassing the peak price of $2,762 reached Wednesday, according to CoinDesk 20 data.

The cryptocurrency has rallied by 43% so far this month, decoupling from bitcoin, down 7%. The ETH/BTC ratio has jumped to 2.5-year highs above 0.050, confirming a major bullish breakout on technical charts.

“ETH/BTC has broken out after a multi-year consolidation, and the trend looks very strong,” Pankaj Balani, co-founder and CEO of the Singapore-based Delta Exchange, said. “There are no further resistances here, and we expect to see ETH/BTC push through 0.10 eventually.”

The implications is that the ongoing capital rotation out of bitcoin and into ether is likely to continue over the coming months.

A report earlier this week from the digital-asset manager Coin Shares’ showed that ether funds and investment products drew $34 million last week, while bitcoin funds leaked $21 million.

“The demand is shifting,” Meltem Demirors, chief strategy officer at CoinShares, told CNBC earlier this week, adding that capital is moving from one asset to another.

Raoul Pal, CEO, and co-founder of Real Vision Group, also foresees a continued ether outperformance.

“At this point in the risk cycle and with Ethereum 2.0 coming (cheaper fees and less supply), I’m struggling to not sell all my BTC and move my entire core position to ETH,” Pal tweeted earlier this month. “To be clear – I’m a massive BTC bull, but I think ETH is the better asset allocation for performance right now.”

Developers expect the Ethreum 2.0 upgrade or the switch to a proof-of-stake consensus mechanism by the end of this year or early next year. After that, Ethereum Founder Vitalik Butrin plans to implement a “github.com/ethereum/wiki/wiki/Sharding-FAQ" target="_blank">sharding” upgrade in a bid to expand Ethereum’s capacity to process transactions by splitting its database into 64 new mini-blockchains. That may bring down transaction fees, bring more network activity and stronger demand for ether.

While the path of least resistance for ETH/BTC appears to be on the higher side, it may not be smooth sailing, per Stack Funds’ head of research, Lennard Neo.

“The breakout seen on the weekly chart is quite significant as the next resistance dates back to May 2018 at the 0.09 value,” Lennard Neo, head of research at Stack Funds, said. “ETH/BTC may re-test former hurdle-turned-support at 0.04-0.045 before further gains unfold,” Neo said.

A potential bull market correction in bitcoin, the top cryptocurrency by market value, cannot be ruled out and will likely lead to a temporary pullback in ETH/BTC. That’s because bitcoin drop usually yields bigger drawdowns in ether and other alternative cryptocurrencies.

Bitcoin’s bounce from recent lows near $48,000 has stalled near $55,000, and buyers are refusing to step in despite the U.S. Federal Reserve retaining its pro-easing stance on Wednesday.

The weekly chart MACD histogram, an indicator used to gauge trend strength and trend changes, has crossed below zero, indicating a bearish reversal for the first time since March 2020.

“A break above $60,000 is needed to revive the bullish view,” Balani said.

Also read: Ether Soars to New All-Time High and JPMorgan Notices

Ether, Hitting New Records, Now Gets Quoted in Bitcoin Terms
https://cryptonews.net/593470/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared

Ethereum News & Updates / Ethereum Will Be Next Big Focus of Large Institutions and Corporations: Weiss Cr

« on: April 29, 2021, 06:36:13 PM »

The second biggest cryptocurrency has been doing exceptionally well this year, rising well higher than Bitcoin in percentage.

Cryptocurrency department of the global analytics agency Weiss Ratings expects that large institutional investors and corporations will soon switch onto Ethereum from Bitcoin and begin to adopt it.

Weiss Crypto believes in ETH’s bright future
On February 8, CME Group launched Ethereum futures for financial institutions, which was another trigger for ETH price growth after the rollout of ETH 2.0 zero phase in December.

Weiss Crypto has made a reminder that after the launch of ETH futures on CME, open interest and daily volume have been seeing a stable surge.

The agency expects that financial institutions and corporations will increase their interest in ETH in the near future and that they have likely started that new phase of Ethereum adoption.

7394_0
Besides, Weiss Crypto has cited JP Morgan analysts who expect Ethereum to keep outperforming Bitcoin, agreeing with the banking giant on this, using it as an another argument to support their bet on institutions going deeper into ETH.

JPMorgan has stated that #Ethereum is outperforming and it expects that trend to continue. We definitely agree with JPM on this one- it further goes to show our belief that $ETH will be the next target of institutions and corporations. In retrospect, it was inevitable."

Ethereum tops $2,800 all-time high
Earlier today, the second largest cryptocurrency surged to a new historic peak of $2,800 for the first time.

This has been the third all-time high for Ethereum this week. At the time of writing, ETH is changing hands at $2,787, as per CoinMarketCap.

Ethereum Will Be Next Big Focus of Large Institutions and Corporations: Weiss Crypto
https://cryptonews.net/593678/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared

Bounties & Rewards [BOUNTY] / Re: Bounty Group JOIN NOW OPEN BOUNTY

« on: April 29, 2021, 10:38:58 AM »

Telegram username:- @le_zit

NFTs & Collectibles / Crypto VC Firm Outlier Ventures Wants to Do ICOs with NFTs

« on: April 28, 2021, 04:31:05 PM »

Yesterday, London-based venture capital firm Outlier Ventures announced a new legal framework for raising money with NFTs.

Dubbed the “NFTSPA” (pronounced “Nifty Spa”), it’s a set of guidelines that asks early investors to buy into limited edition NFTs now, for the promise of future NFTs down the line: the fundraiser gets a nice cash infusion, and the investor gets something that could become more valuable over time. Outlier Ventures is also claiming that as fundraising vehicles, NFTSPAs “should not” constitute securities offerings in the US.

“Should not” is the operative phrase here—the lawyers we spoke to beg to differ.

Some context: NFTs are non-fungible token">tokens that can be used to represent "proof of ownership" in just about any digital artifact, such as music, video, or image files. They've become increasingly popular in the crypto art and collectibles space; collectively, NFT sales generated $1.5 billion in sales in Q1 2021 alone, according to DappRadar.

As for ico">ICOs, or "initial coin offerings," they were crypto's buzziest trend back in 2017. An ICO worked a little like an initial public offering, but instead of buying shares in a company, investors shelled out for crypto tokens. The expectation was that those tokens would become more valuable over time, and that the company issuing them would use investor funds to make it happen.

Many of these ICOs were deemed unregistered securities offerings by the SEC, since they failed to pass what’s known as the Howey Test—a rubric for determining whether or not something is an investment contract. The SEC even published a fake website to educate traders on the dangers of ICO scams. In the wake of the craze, the SEC determined that ICOs would need to be regulated just like any other securities offering.

Outlier Ventures has been working in this space for years, financing crypto startups and putting out research about fundraising tactics in the vein of ICOs. And crowdfunding efforts around NFTs have become more popular in recent months; one writer just raised $50,000 for a novel-as-NFT through a blockchain-based publishing platform called Mirror. Others are looking into ways to "fractionalize" NFTs—essentially breaking them apart—and selling those pieces to raise money.

The NFTSPA framework involves issuing a set of limited edition “Access NFTs” for early investors, which “give holders an exposure to the future franchise value of an NFT project.” That future value comes in the form of deluxe NFTs, called “Preferential NFTs,” as well as “the value inherent in the NFT itself,” which suggests that the Access NFT will be worth something on its own. Outlier is also readying smart contracts (chunks of code on the blockchain) with this model baked in, giving companies a template for new NFT releases.

Meet The NFTSPA ~ NFT Simple Purchase Agreement 📝

a new mechanism & framework for #NFT franchises to crowdfund from fans, anywhere in the 🌎 in a complaint way

Backers can buy transferable Access NFTs via a Genesis Drop = a pre-purchase of future NFTshttps://t.co/TO0NONlS5t pic.twitter.com/PIO96JyPAt

— Jamie Burke ⛺️⛰💯 (@jamie247) April 26, 2021

Gabriel Shapiro, a partner at Belcher, Smolen, and Van Loo (who’s also worked at Weil, Gotshal), said it’s more or less the same idea as an ICO.

He explained over the phone: “It’s pretty ridiculous. They're basically making the exact same argument that was made for ICOs in late 2016, early 2017, which is basically that they’re Kickstarters. Substantively, it's almost identical, except that those were fungible ERC-20 tokens, and these are NFTs.”

In other words, according to Shapiro, the “give us money in exchange for early access to NFTs” argument isn’t all that different from the “give us money in exchange for early access to cryptocurrency” argument.

He called it “astonishingly naive for 2021.”

“Based on the general pattern of fundraising that they described, there will be a high risk in any given case that it does constitute a securities offering,” he said.

Shapiro pointed to SEC vs. Brigadoon Scotch Distributors Ltd., in which a court found that a sale of rare (physical) coins was a securities offering, since advertising around the coins suggested the company’s actions would make them more valuable over time. The expectation that the company would play a role in increasing the value, in this case, is what made the coins securities.

Chris Donovan, who runs Outlier Ventures’ legal department, asserted that “exposure to the future franchise value of an NFT project” has nothing to do with the expectation of profit.

“It isn't promise of value down the line necessarily,” he said. “What it is is promise [of] exposure to future goods and inventory and possibly other elements of what a project is doing, which may or may not necessarily be valuable in the same way that any particular NFT or NFT franchise may or may not be valuable.”

From Donovan’s perspective, the only guarantee is the “inventory” itself.

The Next Big Thing in NFTs: Breaking Them Apart
Rohan Grey, a law professor at Willamette University, disagreed: “They're saying here, ‘Access NFTs effectively give holders an exposure to the future franchise value of an NFT,’ right? I mean, that's almost word for word out of the Howey Test.”

He added that “they definitely are securities.”

Donovan said the NFTSPA is currently under review by external legal counsel in the US and UK. But the company probably isn’t putting itself at risk with these guidelines, Shapiro told Decrypt, thanks to the right to free speech. Outlier Ventures can say whatever it wants, as long as it’s not legal advice; the potential risks lie with the fundraisers.

While Donovan was confident that fundraising efforts the NFTSPA wouldn’t run afoul of securities laws, he added that Outlier Ventures would adapt to the SEC as needed.

“It’s a live structure,” he said. “And we will expect it to be updated and adjusted over time to make sure that it is and remains as compliant as possible.”

Crypto VC Firm Outlier Ventures Wants to Do ICOs with NFTs
https://cryptonews.net/586188/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared

NFTs & Collectibles / Polkamon: Digital Collectible NFTs

« on: April 28, 2021, 04:27:28 PM »

NFTs are the latest players in the crypto space, creating a real buzz in the community. They have gained significant traction thanks to their use in the digital art space, blockchain gaming, and the digital collectables space.

NFTs are a little difficult to understand, but their popularity has skyrocketed, with some crypto enthusiasts even saying that NFTs have surpassed cryptocurrencies in popularity. A digital artwork created by the artist Beeple auctioned at an eye-watering $69 million. With celebrities like Elon Musk also backing NFTs, NFTs have become the asset that everyone in the crypto space wants to get their hands on.

Let’s Understand What An NFT Means?
A Non Fungible Token or NFT is a digital asset that is based on the Ethereum blockchain. They are unique assets with their identifying information stored in smart contracts. The identifying information is what makes each NFT unique. NFTs are non-fungible, which means that one NFT cannot be exchanged for another. This quality makes NFTs different from fungible assets like Bitcoin or fiat currency. Bitcoin is fungible because an individual can exchange one bitcoin for another. Bitcoin is also divisible, allowing individuals to trade smaller amounts.

NFTs are the opposite of fungible assets; Individuals cannot exchange them since each NFT is unique. NFTs are almost exclusive to the Ethereum blockchain, utilizing the ERC-721 and the ERC-1155 token standard. The use of these tokens guarantees that the asset will behave in a certain way and allows developers to quickly deploy the NFTs, ensuring better compatibility with the ecosystem.

What Is Polkamon?
Polkamons are described as exquisite and animated digital collectibles that are created using blockchain technology. They introduce 3D NFTs to the digital collectibles space, allowing users to collect rare digital monsters. Each Polkamon has a different level of scarcity and is backed by a unique NFT, which can be unpacked using the $PMON token. Users can also integrate them into other blockchain-based products.

Each Polkamon has a rich metadata set that describes the properties and characteristics of each Polkamon. They are also Layer-2 compatible, allowing them to be integrated into Layer-2 applications. This will enable owners of Polkamon collectibles to incorporate them into their collection of games and art.

The Team And Vision Behind Polkamon
Polkamon’s team consists of CEO Leif Eric Leiser, an experienced full-stack developer, and serial entrepreneur. Lennart Brandt is the CMO, has significant experience in the crypto space, and founded several apps; Finn Hansen completes the trio and is an experienced front-end developer and an NFT collectible enthusiast.

They describe their vision as three separate layers that can become the building blocks for a sustainable and modern ecosystem for collectibles. The decentralized ownership system based on NFTs sits on the base layer, supported by an ERC-20 token. The token makes trades easier and improves liquidity. The second layer sits on top of the base layer and enriches NFTs through rich visuals and detailed metadata. The final layer is the application layer, upon which proven ownership, visuals, and rich metadata create a universe of utilization.

Utilization layers: The team at Polkamon believes that the key to growth is heavily dependent on the quantity and the quality of utilization layers. To achieve this, the team is focusing on building partnerships with several players for layer-2 utilization.
Visuals and Metadata: These are easy to integrate with Polkamon and are the most significant growth drivers for the platform. It can also act as a support layer for applications.
Decentralized NFTs and tokens: This layer forms the base of the Polkamon ecosystem, ensuring the highest level of trust in ownership.
What Are The Characteristics Of Each Polkamon?
Each Polkamon has unique characteristics, some of which are

Glitter: These are extremely rare and are considered to be extremely collectible Polkamon.
Polkamon: Each Polkamon comes in different colors.
Horn: Each Polkamon possesses a unique horn. Why? If only we knew.
Ultra-rare: These are the rarest Polkamon of the Polkamon universe. You could spend an eternity finding them and yet not run into them.
The Polkamon collection
As we know, Polkamon exists in different shapes and sizes. During the IDO, interested individuals could claim an egg by paying a certain amount as gas fees for the egg. The egg could hatch into one of the collectible dragons.

The available collections are Bitcoin, Ethereum, Monero, Uniaqua, and Uniturtle, with more to be added.

Features Of Polkamon
Some unique features of Polkamon are

Cross-Chain: Polkamon uses both Ethereum and Polkadot, allowing the project to leverage other blockchains. This is thanks to the cross-blockchain transfer feature on Polkadot.
Staking: Users can also stake their $PMON token and Polkamon and receive rewards and extra $PMON tokens, giving users an incentive to stake both NFTs and tokens.
Liquidity: The $PMON token also acts as a liquidity provider to the Polkamon project, providing significant liquidity and also provides a swapping mechanism between $PMON and NFTs.
Scarcity: Each Polkamon is different and unique, with varying levels of rarity. Some Polkamons are so rare that they are often defined as ultra-rare.
Deflationary: Polkamon is hyper-deflationary, ensuring a scarcity of assets through the burning of $PMONs for every swap and reverse-swap.
The Token
The $PMON token is the key to Polkamon, with users needing it to access Polkamon. The total supply of the $PMON tokens is set at 10 million, with the initial supply pegged at 1.8 million, with the price fixed at $0.40 per token.

The Polkamon Ecosystem
The Polkamon ecosystem comprises marketplaces and interconnected apps. Users can explore different collections or showcase their collections by using native mobile apps. Users can also browse for more information about Polkamons and the Polkamon ecosystem while purchasing $PMON. They can also utilize widgets and keep their most valuable Polkamons with them at all times.

Polkamon Utility
Polkamon are digital collectibles that are backed by NFTs and can also be integrated into different blockchains. Some of the uses are

Layer-2 integration: Polkamon can be integrated into Layer-2 applications with the metadata set describing the qualities of each Polkamon.
Proof of ownership: Since NFTs back Polkamon, Their owners can integrate them into collections or in different games.
Conclusion
Polkamon has an exciting roadmap ahead, and there will be changes applied to each Polkamon, like the addition of sound and the expansion of the ecosystem through the introduction of apps and widgets. Polkamon hopes to kick-start a future towards NFT-based collectibles.

The low barrier of entry has made the project an attractive prospect to individuals trying to get into the NFT space. It will be extremely interesting to see the direction that the project takes in 2021 and beyond.

Polkamon: Digital Collectible NFTs
https://cryptonews.net/586804/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared

NFTs & Collectibles / Zilliqa in the world of football for an NFT project

« on: April 28, 2021, 04:25:53 PM »

Zilliqa is entering the world of football with a project involving many important footballers. At the moment, everything is just rumours. In fact, there are no official announcements, but some important partners are confirmed and each has announced it via Twitter.

They are:

Renato Sanches, from Lille;
Rúben Dias, from Manchester City;
Diego Costa (currently untied);
João Félix, from Atletico Madrid;
Keylor Navas, from Paris Saint-Germain;
Radamel Falcao, of Galatasaray;
Diogo Jota, from Liverpool;
Raúl Jiménez, of Wolverhampton;
James Rodríguez, of Everton.
I can’t wait to partner with the brilliant Zilliqa team and show the world how powerful #blockchain can be. Follow me and @zilliqa to find out more! pic.twitter.com/3ZV9OdJwtp

— Rúben Dias (@rubendias) April 27, 2021

All of them tweeted yesterday a video of a few seconds in which they announce their entry into the world of blockchain with Zilliqa, together with two hashtags: and.

At the moment, as anticipated, the project has not yet been officially revealed, but on Reddit, someone has speculated that it could be something related to NFT.

Another clue about the project comes from Polaris Sports, a brand that takes care of the images of many footballers, including those who have already made their partnership with Zilliqa official. At the moment, Polaris has not explained what the project is about.

But the more curious have not missed a detail: Polaris also takes care of the image of another footballer who, if only he joined the project, would certainly make him explode: Cristiano Ronaldo, currently playing for Juventus.

Zilliqa and football
In any case, the various tweets from the players have reached millions of followers who now expect something directly from Zilliqa.

While we wait for everything to be revealed, this is an incredible amount of visibility for the blockchain, which could also lead to an increase in the value of the ZIL token, which not surprisingly is up around 12% today, one of the best performances of the day. ZIL is currently worth 19 cents, and is attempting to recover its all-time high of 24 cents, reached about 10 days ago.

What is certain is that with this secret project (not for long), Zilliqa is increasing the attention on itself and thus on the already growing NFT market, where it plays a leading role.

Zilliqa in the world of football for an NFT project
https://cryptonews.net/587778/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared

Suggestion Box / Re: Broken links

« on: April 26, 2021, 05:44:11 PM »

Quote from: Freemind on April 26, 2021, 05:31:49 PM

Hi,

I have seen some users of this forum post news and use links to external news in their posts, which is good. But due to the limitations of the forum, to avoid spam, these links are broken and lead nowhere.

Would it be possible to fix this problem to avoid SEO penalties and have the cleanest forum?.

Thanks!

You are right.I am already suffering from this problem. I have created many topics on cryptocurrency There I gave the links provided. After giving the links do no further work. This is because of a problem of my own or a problem of the forum. Definitely let me know. If I have a problem of my own, you will solve my problem. And if there is a problem of the forum, you will see the authority of the forum.

News related to Crypto / Nexus Mutual Unveils Insurance for Binance Smart Chain, Polkadot, Cosmos

« on: April 26, 2021, 05:18:11 PM »

The Ethereum-native people-powered alternative to insurance, Nexus Mutual, is expanding its services to other chains.

Nexus Mutual Follows the Money
Using Nexus Mutual, users can share risk through a decentralized system of claims and refunds. While the protocol was originally designed to protect users from smart contract risks in DeFi, it is now expanding fast. In January, they added protection against exchange risks on Coinbase and Binance (lost funds or prolonged withdrawal halts).

Shortly after, it began offering protection for centralized lending and borrowing services like Hodlnaut and BlockFi. Now, the platform is joining the multi-chain trend.

Nexus Mutual announced their new Protocol Cover program on Monday morning, covering problems on other popular smart contract networks. The first group of projects includes Polkadot, Cosmos, and Binance Smart Chain. Users will be covered for smart contract bugs, oracle attacks, governance failings, and hacks.

CEO Hugh Karp insisted on the importance of staying up to date with changes in DeFi and the evolution of new blockchains. Nexus Mutual has seen a sharp increase in usage in 2021.

Nexus Mutual Unveils Insurance for Binance Smart Chain, Polkadot, Cosmos
https://cryptonews.net/580728/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared

News related to Crypto / Popular Hong Kong Resturant, Okra Kitchen Now Accept Cryptocurrencies

« on: April 26, 2021, 05:13:00 PM »

Japanese restaurant Okra Hong Kong has joined a queue of firms that accept cryptocurrencies as a means of payment. The company hopes to benefit its clients by making it easier for them to make payments and providing them with enhanced security.

Okra Kitchen is an extension of Okra 1949 in Beijing, China. The izakaya restaurant located in the Sai Ying Pun neighborhood of Hong Kong focuses on preparing Sakes, charcoal-grilled small plates, and sashimi.

The Japanese restaurant is known to seek opportunities to embrace new technologies and is riding the wave of Coinbase’s public listing on the Nasdaq stock exchange to adopt cryptocurrencies.

Retaining an upfront position in pushing the kitchen industry forward, restaurateur Chef of Okra Hong Kong Max Levy continues to look for technological innovations that will give both guests and restaurant owners more flexible, reasonable, secure, and convenient payment solutions.

In light of its latest move to accept cryptocurrencies as payments, the restaurant now accepts Hong Kong dollar equivalent payments in Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), Binance USD (BUSD), and Ripple (XRP).

Customers who visit the restaurant and pay for their meals with cryptocurrencies will receive 5% off of their total bill similar to the standard fees businesses that use credit card payments have to pay. The restaurant will write the menu prices in Hong Kong dollars and the customers will receive a conversion rate before making payment.

Concerning the restaurant’s latest step into the crypto space, Chef Max Levy stated “We have always tried to pivot with the newest technology outside of social media to help offer a better and more rewarding experience for our guests.”

“The evolving world of digital currency and blockchain is something that will benefit not only our industry by saving us high transaction fees from banks and credit card processing companies, but it will soon become a much more beneficial way for our guests to pay,” he continued

In a similar development, the popular American news magazine and publication Time Magazine, through a partnership deal with Crypto.com now accept cryptocurrency payments from clients.

Popular Hong Kong Resturant, Okra Kitchen Now Accept Cryptocurrencies
https://cryptonews.net/580778/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared

Ethereum News & Updates / Amnesia Ibiza Launching on Ethereum

« on: April 26, 2021, 05:09:53 PM »

The world-famous club has Amnesia Ibiza partnered with Decentral Games to open a virtual space on the Ethereum blockchain.

Set to launch in June, the club’s virtual offering will feature three rooms. They include Amnesia Experience, which will recreate Amnesia events in real-time, and Amnesia Hype will be a live stream space. The third room will be announced this summer.

Decentral Games is an Ethereum-based virtual world that forms part of what’s become known as “the metaverse.”

It allows users to explore virtual parcels of land, which take the form of non-fungible tokens (NFTs). Examples of virtual spaces in Decentral Games include digital art galleries and casinos. Decentral Games has its own NFT store and auction house where users can also add to their personal NFT collections. While it’s built on Ethereum, it recently added support for Polygon, one of the network’s leading scaling solutions.

Miles Anthony, Decentral Games founder and CEO, explained that the partnership could boost Decentral Games and Amnesia’s profiles. He said:

“Bringing such an established name from the entertainment industry onto the metaverse is very exciting for us. This partnership is a move that is bound to breathe new air to both parties, which is expected to not just add value to user experience but also to overall market worth.”

According to marketing materials seen by Crypto Briefing, the partnership will generate “at least $10 million” of revenue in the first year. The bulk of that will be split equally between Decentral Games and Amnesia, with a 10% cut going to a separate event organizer.

Virtual clubbing has become a widely discussed concept recently, with many of the world’s leading nightclubs shuttered due to the Coronavirus pandemic. Various clubs turned to live streams during lockdowns as a way of engaging with the dance music community.

Amnesia’s entire 2020 season was canceled, while the rest of Ibiza stayed closed. Some events are scheduled for this year, though it’s unclear whether they’ll be able to go ahead. Martin Ferrer, CEO at Amnesia, stated that the Decentral Games club would allow fans worldwide to experience the venue through a new lens. He said:

“This partnership with Decentral Games will bring Amnesia Ibiza into our fans’ homes, allowing them to recreate the unique Amnesia experience through Decentral Games’ 3D metaverse environment. We are also excited to reach out to new fans from all over the world!”

In addition to the club events, attendees will get access to the Amnesia NFT store, selling electronic music, DJ’s autographs, and in-game wearables. The wearables will be produced alongside Amnesia artists and allow users to earn DG tokens, Decentral Games native asset.

Amnesia Ibiza is one of the world’s most popular superclubs. It opened in Ibiza in 1976 and has become one of the island’s key attractions for clubbers worldwide. Its regular guests include Carl Cox, Sven Väth, and Ricardo Villalobos.

Disclosure: At the time of writing, the author of this feature owned ETH, MATIC, and several other cryptocurrencies.

Amnesia Ibiza to Open Nightclub in Ethereum Metaverse
https://cryptonews.net/580440/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared