Arthur Hayes Shines Spotlight on Flare Network’s Revolutionary DeFi Approach

https://blockchainreporter.net/arthur-hayes-shines-spotlight-on-flare-networks-revolutionary-defi-approach/

In his recent thought-provoking blog, BitMEX founder Arthur Hayes draws an intriguing parallel between everyday risk assessment and investment strategies in the cryptocurrency realm. Notably, Hayes casts a spotlight on the emerging Flare Network, especially in the wake of its latest groundbreaking announcement, introducing the world to XDFi – the first compliant decentralized futures protocol.

Hayes, with his knack for storytelling, emphasizes the paramount importance of narrative in investment decisions, arguing that the collective belief in a story often drives the success of technological projects, especially in the volatile crypto market. Within this framework, he transitions to discussing Flare Network, a platform that has recently made waves with its innovative approach to decentralized finance (DeFi).

XDFi as a Beacon of Innovation

Flare, known for its unique integration of decentralized oracles and smart contract capabilities, aims to bridge the gap between the wealth of real-world data and the burgeoning ecosystem of blockchain applications. This strategic move has set the stage for groundbreaking projects like XDFi, which promises to redefine the landscape of futures trading in DeFi. XDFi emerges as a beacon of innovation, crafted by the seasoned minds at Sindric Solutions, veterans with over two decades of experience on Wall Street.

This protocol is designed to meet the stringent demands of institutional investors, offering a non-custodial, compliant environment for futures contract trading that operates around the clock. The integration of Know Your Customer tokenization (KYCT) into the DeFi space is a pioneering approach by XDFi, ensuring transactions meet regulatory standards without the need for centralized intermediaries.

The significance of Flare’s role in this development cannot be overstated. As pointed out by Hugo Philion, Co-founder and CEO of Flare, the network’s commitment to providing secure, decentralized access to a wide range of off-chain data is pivotal. This feature not only enhances the security and efficiency of applications like XDFi but also lays a solid foundation for the future of institutional-grade DeFi solutions.

The XDFi protocol, leveraging Flare’s innovative Time Series Oracle (FTSO), aims to transform the futures market by allowing daily settlement of contracts and supporting a variety of digital and traditional assets. This level of versatility and security is a significant leap forward, potentially attracting a new wave of investors to the DeFi sector.

The Future of DeFi

In his blog, Hayes eloquently connects the narrative surrounding technological advancements and community trust to the potential success of crypto projects. His backing of Flare and the XDFi protocol underscores the growing confidence in decentralized solutions that can meet the complex demands of modern finance while ensuring compliance and security.

As the Flare ecosystem continues to evolve, the focus on data-driven smart contracts and the integration of compliant protocols like XDFi signals a maturing space ripe for institutional adoption. The forthcoming launch on Flare’s testnet, Coston2, invites users to explore, test, and contribute to the XDFi platform, paving the way for a more inclusive, secure, and efficient DeFi future.

In the end, Arthur Hayes’ latest musings do not just ponder the philosophical aspects of risk and probability; they highlight a tangible shift in the crypto narrative. By endorsing Flare Network and the innovative XDFi protocol, Hayes is not just telling a story; he’s spotlighting a future where DeFi transcends its current limitations, welcoming a new era of compliance, efficiency, and institutional trust.

Orbs Partners with IntentX to Transform OTC Derivatives and Spot Markets

https://blockchainreporter.net/orbs-partners-with-intentx-to-transform-otc-derivatives-and-spot-markets/

In a groundbreaking move within the blockchain industry, the Layer-3 public blockchain project Orbs has announced a strategic partnership with IntentX, a leading OTC marketplace and trading terminal. This collaboration is set to revolutionize the on-chain derivatives and spot trading markets, highlighting Orbs’ growing influence in the blockchain space, particularly in the realm of on-chain derivatives.

The partnership is poised to leverage Orbs’ cutting-edge Layer-3 technology to explore and develop potential use cases for on-chain derivatives. A key feature of this collaboration will be the integration of Orbs’ Request for Quote (RFQ) protocol, the Liquidity Hub, into IntentX. This integration aims to enhance RFQ spot trading and expand IntentX’s spot trading capabilities, extending them to additional blockchains such as Base and Arbitrum.

A Game-Changing Blockchain Alliance

This collaboration marks a significant milestone for Orbs, especially following its recent partnership with SYMMIO, a protocol that specializes in bilateral “Symmetrical Trading” of derivatives. This earlier collaboration was centered around on-chain derivatives use cases, focusing on off-chain/on-chain communication oracles and the development of a joint bidding system for hedgers.

Ran Hammer, Orbs’ Vice President of Business Development, expressed enthusiasm about the partnerships, stating, “By teaming up with first SYMMIO and then IntentX, Orbs is solidifying its role as a leader in on-chain RFQ trading innovation. As well as integrating our decentralized optimization layer Liquidity Hub into IntentX’s frontend for RFQ-based spot trading, we will enhance SYMMIO’s contracts using our L3 technology. We hope this proves to be a shot in the arm for the on-chain derivatives space, and we cannot wait to hear what users think.”

The Liquidity Hub by Orbs has already demonstrated its potential, facilitating tens of millions of dollars in trade volume through its operations on Polygon’s leading native DEX Quickswap and Thena, one of the most prominent DEXs on the BNB Chain. Orbs stands out for its decentralized execution layer that bridges the gap between existing Layer 1/Layer 2 solutions and the application layer.

With its secure network of permissionless validators and Proof-of-Stake mechanism, Orbs is enhancing the capabilities of smart contracts across both EVM and non-EVM chains, paving the way for a more innovative and integrated blockchain ecosystem. On the other hand, IntentX, renowned for its perpetual futures trading, stands out in the OTC derivatives exchange sphere.

Its collaboration with SYMMIO integrates intent-based (RFQ) core contracts vital for trade settlement and facilitating agreements between traders and solvers, thereby enriching IntentX’s offerings and showcasing its commitment to innovation and enhanced user experiences. IntentX supports a wide array of tradable markets and offers substantial leverage options.

The tripartite synergy between Orbs, IntentX, and SYMMIO is setting the stage for a more efficient, transparent, and accessible on-chain derivatives market. This evolving landscape is poised to deliver enhanced value beyond the capabilities of traditional decentralized exchange Automated Market Makers (DEX-AMMs).

Oasys Blockchain Welcomes Kakao’s Metabora SG to Forge New Gaming Horizons

https://blockchainreporter.net/oasys-blockchain-welcomes-kakaos-metabora-sg-to-forge-new-gaming-horizons/

In a significant development in the blockchain gaming sector, Oasys, a gaming-centric blockchain network, has announced its latest collaboration with Metabora SG, the Web3 gaming division of Kakao Games, a leading South Korean video game company. This partnership aims to redefine the landscape of blockchain gaming by committing to “create and deliver superior blockchain games to more users,” as stated in Oasys’ announcement on Wednesday.

The collaboration is a part of Oasys’ ambitious “Dragon Update” initiative for 2024, which seeks to enhance interoperability, expand the ecosystem, and forge high-quality gaming content. Dominic Jang, Head of Business Development and Head of Korea at Oasys, expressed his enthusiasm about the partnership, noting that Metabora SG aligns perfectly with Oasys’ mission to revolutionize the gaming industry through blockchain technology.

Kakao Games, the parent entity of Metabora, is renowned for publishing popular titles such as Black Desert Line and PlayerUnknown’s Battlegrounds (PUBG) in South Korea. Kakao, its parent company, is widely recognized for KakaoTalk, a leading free messaging service in South Korea. Metabora SG has already made strides in the blockchain gaming arena with titles like the puzzle game Skill Blitz, the golf game Birdie Shot, and the RPG ArcheStar.

A New Chapter in Blockchain-Powered Gaming

The partnership signifies a crucial step for Oasys as it continues to expand its business in South Korea and leverages its network in Japan to support Metabora SG’s growth in the Japanese market. This move is seen as a strategic effort to integrate traditional gaming experiences with the innovative features of blockchain technology. Oasys has rapidly become a preferred platform for traditional gaming powerhouses venturing into the Web3 space.

Notable collaborations include Ubisoft, the publisher behind the Assassin’s Creed series, which is developing its first original blockchain game, Champions Tactics: Grimoria Chronicles, on Oasys. Additionally, Ubisoft has launched a free Ethereum NFT collection tied to this game. Moreover, Sega is collaborating with Double Jump.Tokyo to transition some of its intellectual properties to Web3 gaming, beginning with a Battle of the Three Kingdoms game.

Similarly, Bandai Namco, known for hits like Pac-Man and Tekken, has introduced an experimental AI-driven game on the Oasys network. The recent announcement that South Korean mobile game publisher Com2uS would transfer games from its XPLA ecosystem to Oasys has further buoyed the network’s standing in the gaming community.

This news led to a surge in the value of the OAS token, reaching an all-time high of over $0.14 on February 13, though it has slightly corrected to $0.1235 at the time of reporting, according to CoinMarketCap. Overall, the convergence of major gaming companies on the Oasys platform underscores the growing interest and potential of blockchain technology in enhancing gaming experiences, making this partnership a landmark event in the evolution of Web3 gaming.

Binance Charity Dedicates $150K to Ukrainian War Victims in Collaboration with Superhumans Foundation

https://blockchainreporter.net/binance-charity-dedicates-150k-to-ukrainian-war-victims-in-collaboration-with-superhumans-foundation/

In a significant philanthropic move, Binance Charity, the charitable arm of the renowned global blockchain ecosystem Binance, has teamed up with Superhumans Foundation, a notable non-profit organization, to launch a series of educational initiatives aimed at aiding Ukrainian citizens affected by war. The collaboration is set to make a substantial impact, with Binance Charity committing $150,000 to the cause.

The educational initiative, tailored to aid war-impacted individuals, is designed as an intensive entrepreneurship program targeting aspiring entrepreneurs and graduates keen on launching or enhancing their businesses. Spanning a three-day course coupled with a month of subsequent mentoring, the program is structured to recur every two months. It is expected that approximately 100 participants, encompassing civilians and veterans alike, will complete the program, with an estimated 30% projected to start their businesses thereafter.

Addressing a specific need within the veteran community, a unique peer-to-peer program is being launched for discharged military personnel eager to build veteran communities locally. This initiative aims to train 50 veterans to form their own groups by the end of 2024, fostering a supportive environment for reintegration into civilian life. The ambition extends further, with plans to scale the peer-to-peer model to support a staggering 100,000 veterans over the next three years, following its successful pilot at the Superhumans Center.

Empowering Ukrainian Entrepreneurs

Additionally, the partnership aims to set up a social franchise to assist war victims and veterans in starting their own businesses. This project underscores the importance of nurturing an entrepreneurial mindset among war-affected individuals, enabling them to integrate their skills into civilian life effectively. The initiative will include the establishment of dedicated spaces within the Education Center to facilitate networking, personal development, and interactive educational activities.

Kyrylo Khomiakov, Binance’s Regional Head for CEE & Central Asia, emphasized the importance of supporting war victims, stating, “Extending aid to war victims is an essential measure to facilitate their healing, recovery, and prosperity. We are privileged to unite with Superhumans in providing this assistance and optimism to individuals who have gone through terrible suffering. Binance Charity has resolved to support the Superhumans Center, an organization dedicated to offering Ukrainian war victims the prospect of a renewed, fulfilling life. We remain steadfast in our belief that our initiative and investment will generate opportunities for numerous individuals to kick-start new chapters in their lives.”

Olga Rudnieva, CEO of Superhumans Center, highlighted the holistic approach of the initiative: “Superhumans Center is happy to announce our partnership with Binance in the area of veterans’ reintegration into civilian life. It’s important not only to give people the best prostheses and highest-quality rehabilitation – we aim to ensure that they have a reason to leave their apartments. Mobility and independence for people with disabilities are not only about medical services, it’s also about having a stable source of income, interacting with colleagues, and feeling needed in society.”

Binance Charity continues to demonstrate its commitment to leveraging Web3 for social change, promoting accessible education and research, and advancing solutions for local and global humanitarian impact. The organization has already supported over two million beneficiaries through its various projects. This collaboration between Binance Charity and Superhumans Foundation marks a significant step forward in supporting Ukrainian war victims, offering them not just immediate aid but also long-term opportunities for growth, independence, and reintegration into society.

JasmyCoin (JASMY) Investor Nets $387K Profit Amid 140% Price Surge

https://blockchainreporter.net/jasmycoin-jasmy-investor-nets-387k-profit-amid-140-price-surge/

An investor in JasmyCoin (JASMY) has secured a profit of $387,000 following a significant 140% surge in the cryptocurrency’s price. Lookonchain, a prominent blockchain analytics platform, disclosed the lucrative transaction on X (formerly Twitter), highlighting the savvy investment strategy employed by the individual referred to as “SmartMoney.”

According to Lookonchain’s tweet, the SmartMoney investor initially deposited 20 million JASMY tokens, valued at $231,000, into Binance, a leading cryptocurrency exchange. This move came just 12 hours before the tweet, capitalizing on the price surge. Prior to the increase, the investor had accumulated 71.62 million JASMY tokens at an average price of $0.0063 per token, resulting in a total investment of $451,000.

JasmyCoin Price Goes Bullish

The price of JasmyCoin has seen a remarkable uptick, now standing at $0.01244, marking a 19.76% increase over the past 24 hours and an impressive 139.69% rise over the last month. This rally has significantly augmented the value of SmartMoney’s holdings, leaving the investor with 51.62 million JASMY tokens currently valued at $607,000. The net profit from this venture, as reported, stands at around $387,000.

The recent price rally has not only benefited the astute investor but has also significantly boosted JasmyCoin’s market standing. The cryptocurrency’s 24-hour trading volume has escalated by 45.63%, reaching a substantial $834.85 million. Concurrently, JASMY’s market capitalization has risen by 19.69%, now valued at $613.22 million, positioning it as the 111th largest cryptocurrency in terms of market capitalization.

The surge in JasmyCoin’s price and the consequential profit reaped by the investor underscore the volatile yet potentially lucrative nature of the cryptocurrency market. Investors and market spectators alike are closely monitoring JASMY’s performance as well as JASMY price prediction, as the digital token continues to make waves in the crypto sphere.

The significant profit the SmartMoney investor garners is a testament to the high-risk, high-reward paradigm that defines the cryptocurrency trading landscape. As the market continues to evolve, stories such as these highlight the potential gains that can be realized through strategic investment and market timing.

Social Network Leads the Way in Bitcoin Staking with Strategic Partnerships

https://blockchainreporter.net/social-network-leads-the-way-in-bitcoin-staking-with-strategic-partnerships/

In a groundbreaking move for the cryptocurrency industry, Social Network, the pioneering Bitcoin Layer-2 staking protocol, has announced an impressive lineup of tech partnerships aimed at revolutionizing the Proof-of-Work blockchain. As the digital world watches, Social Network is carving a path toward an environmentally sustainable future for Bitcoin staking, highlighting the significant roles each partner will play in this ambitious project.

The recent launch of Social Network’s testnet for Bitcoin Staking marks a significant milestone in the staking innovation. Alongside this, the early deployment of its BTC staking rewards program through the Earth Wallet testifies to the platform’s commitment to user benefits and environmental sustainability. Earth Wallet is not just any wallet; it’s a cross-chain, self-custody wallet supporting Bitcoin, the Ethereum mainnet, and Ethereum Layer-2s, soon to be open-sourced following its mainnet debut.

Social Network’s Journey to Revolutionize Bitcoin Staking

Leading the charge with Social Network is Arbitrum, known for its pioneering L2 Rollups and commitment to open-source technology. This partnership is strategic, combining Social Network’s innovative vision with Arbitrum’s proven layer two tech stack, further supported by a generous commitment from Social Network to donate 10% of its sequencer revenue to maintain the openness of the Arbitrum stack.

In the realm of blockchain R&D, Social Network has partnered with ChainSafe, the minds behind the open-source Ethereum Consensus client Lodestar. This collaboration aims to bridge the Bitcoin and Ethereum blockchains using cutting-edge technologies such as ZK, MPC, and light-client technology, underscoring a significant move towards interoperability in the crypto space.

But the partnership network doesn’t stop there. Social Network is also working with LaunchNodes, leveraging their expertise to develop Earth Nodes, a one-click deployment solution for an energy-efficient Bitcoin staking infrastructure accessible globally via major cloud services. This move is complemented by the integration of ThreeFold’s ZeroOS into Earth Nodes, aiming for a decentralized data storage solution, marking a step away from traditional cloud dependencies.

Another vital partner, BloXroute, is set to revolutionize Bitcoin’s latency issues, aiming to make MEV (Maximal Extractable Value) on Bitcoin a lucrative reality and ensuring a fair economy within the Social Network ecosystem. In addition, the collaboration with Biconomy is set to redefine user experience in decentralized applications, emphasizing the importance of self-custody and security.

Furthermore, AltLayer’s involvement promises to stabilize Social Network’s infrastructure while pioneering the first Bitcoin/Nostr data availability layer, showcasing a significant advancement in decentralized protocol technology. As Social Network ushers in a new era for Bitcoin staking, it invites testnet Bitcoin stakers to join its burgeoning ecosystem, promising rewards and a stake in the future mainnet. This initiative represents a major leap forward in making Bitcoin more user-friendly, less energy-intensive, and a robust source of wealth creation.

Founded by a team of open-source Bitcoin and Ethereum developers, Social Network’s testnet launch in 2024 signifies a new chapter in cryptocurrency’s evolution, blending innovation with sustainability and community engagement. As this Layer-2 solution gains traction, it could very well set a new standard for Bitcoin’s scalability, efficiency, and overall impact on the digital economy.

Gamdom Review: The Ultimate Fusion of Crypto Casino and Social Gaming

https://blockchainreporter.net/gamdom-review-the-ultimate-fusion-of-crypto-casino-and-social-gaming/

When it comes to online gambling, Gamdom has established itself as a pioneering force since its launch in 2016. Marking its entry as one of the inaugural platforms to seamlessly blend cryptocurrency with a provably fair gaming experience, Gamdom has transcended beyond mere gambling to offer a vibrant social gaming environment.

This Gamdom review delves into the multifaceted world of Gamdom, a domain where the thrill of casino games, the excitement of sports and esports betting, and the camaraderie of social interaction converge. We aim to uncover every aspect of the Gamdom experience—from its vast selection of games and generous bonuses to its versatile banking options, mobile compatibility, and customer support excellence.

What is Gamdom Casino?

Gamdom debuted in 2016, emerging as an early adopter among crypto casinos by incorporating provably fair games alongside a social gaming platform. Over time, it has evolved into a highly favored destination for a comprehensive suite of gaming options, including casino games, sports wagering, esports betting, and social gaming activities. Welcoming a diverse audience, Gamdom supports numerous leading cryptocurrencies and traditional fiat currencies.

In addition, Gamdom distinguishes itself with its vibrant social and interactive features that permeate the platform. Players can engage in ongoing conversations and observe a live feed of bets, fostering a dynamic community environment. Despite its strong focus on cryptocurrency and gaming enthusiasts, Gamdom also delivers a complete array of conventional online casino games and promotional offers. 

Gamdom offers an extensive collection of more than 2,500 casino games, catering to a wide range of preferences and ensuring limitless amusement. The majority of this vast selection consists of slot games, featuring well-known titles such as Sweet Bonanza, Book of Dead, and Money Train 2. Enthusiasts of table games have plenty to explore, including roulette, blackjack, and baccarat, among others. Additionally, live dealer games are available, providing a real-time, genuine casino atmosphere for players.

Slots

Gamdom’s slot lineup features a mix of beloved titles and hidden gems from over 30 different software developers. The platform spans a wide array of popular motifs, including ancient Egypt, Irish fortune, gold mining adventures, enchantment, and beyond. Players have the flexibility to enjoy these slots in both demo and real money play modes.

Certain slots are particularly noteworthy for their potential for massive winnings. Titles such as Deadwood and Money Train 2, developed by Nolimit City and Relax Gaming respectively, offer the chance to win upwards of a million dollars with just one spin. The majority of slots boast a return-to-player (RTP) percentage ranging from 94% to 97%, holding their own against the industry’s leading online casinos.

Table Games

Although the selection is not as vast as the slots, Gamdom nonetheless offers a comprehensive range of classic table games, including roulette, blackjack, baccarat, and various forms of poker. Roulette enthusiasts have access to European roulette with a single zero, American roulette with a double zero, and traditional French roulette. For blackjack players, the options extend to classic, single-deck, and multi-hand variants. Additionally, Gamdom features exclusive tables for baccarat and three-card poker, providing unique gaming experiences for its users.

Live Casino

The live dealer section at Gamdom offers an engaging experience with real dealers and croupiers bringing the casino action to life. Powered predominantly by Evolution Gaming, a frontrunner in the live casino industry, this platform allows players to interact directly with dealers and fellow participants via a live chat feature.

The live casino boasts a variety of popular games, including traditional offerings such as roulette, blackjack, and baccarat. Additionally, players can enjoy innovative gameshow-style games like Deal or No Deal, Dream Catcher, Crazy Time, and Monopoly Live. This immersive live casino experience transports the excitement and glamor of Las Vegas directly to players’ homes.

What is Gamdom Sports Betting?

Beyond its online casino offerings, Gamdom expands its appeal with a comprehensive sportsbook and specialized esports betting section. These additions cater to a broader demographic, particularly attracting members of the gaming community. Through these diverse betting options, Gamdom distinguishes itself by providing an exceptional variety of entertainment choices to its users.

Sports Betting

The sportsbook at Gamdom encompasses more than 25 sports, covering all the major leagues to satisfy sports enthusiasts. Football aficionados have the opportunity to place bets on more than 250 pre-match markets spanning leagues such as the English Premier League, NFL, NBA, among others.

Gamdom offers highly competitive odds, with an average payout of 92% across all sports. The platform also supports a wide range of in-play betting options for sports including football, basketball, tennis, and more, with over 400 live events available daily. Additional features like cash-out options and live streaming further enrich the live betting experience for users.

eSports Betting

Originating from the world of CS:GO skin trading, Gamdom naturally excels in offering comprehensive esports betting options. The platform covers all major esports titles, including Dota 2, League of Legends, Counter-Strike, Overwatch, and others. Bettors can engage with a variety of betting markets, such as predicting match winners, handicaps, total rounds, first kill, and more.

The esports offering at Gamdom competes in depth and breadth with traditional sports betting, often featuring over 400 live esports events daily. With competitive odds averaging around 93%, Gamdom ensures attractive betting value for fans of popular teams and tournaments.

By amalgamating conventional sports betting, live in-play betting, and extensive esports offerings, Gamdom establishes itself as a comprehensive gambling destination for enthusiasts and bettors alike. The blend of sportsbook and esports betting services is exceptionally comprehensive, catering to a wide range of preferences.

Gamdom Original Games

Alongside offerings from leading game developers, Gamdom has also introduced several exclusive, original titles. These games are provably fair, incorporating a social feature that enables players to observe and compete against one another in real time. The following are some of the original games you can find on Gamdom:

Crash

Crash stands out as a widely favored original game on Gamdom. In this game, players place bets on a multiplier that progressively climbs from 1x upwards. The game can end randomly at any multiplier ranging from 1x to 100,000x. The key to winning is to exit the game before it crashes; the longer you wait to cash out, the greater the potential reward. However, exiting too soon or the game crashing before you cash out means you lose your bet.

Dice

Gamdom’s Dice employs a straightforward high/low betting system. Participants wager on whether they believe the upcoming dice roll will land above or below a chosen number, which ranges from 1 to 100. The initial odds are set at 1.98x, with potential payouts increasing with each roll within a round. Following the outcome of a bet, whether a win or loss, the round resets for another opportunity to play.

Roulette

Gamdom’s Roulette mirrors the experience of traditional casino roulette. Players have the option to place bets on individual numbers, colors, odd/even numbers, columns, among other choices. A unique social feature enables players to observe the bets of others as they unfold in real-time. The game is designed for continuous play, with rounds progressing seamlessly without any waiting period between spins.

HiLo

In Hilo, the premise is straightforward: players predict whether the next card revealed will be higher or lower than the one before it. To enhance potential winnings, optional multipliers of up to 10x are available. The game resets after each win or loss, facilitating continuous play. Its simple structure makes “Hilo” an accessible game for newcomers.

Gamdom Welcome Bonuses

Gamdom presents newcomers with two distinct welcome bonus options to enhance their starting funds. The first option is a standard welcome bonus that offers a 15% rakeback for the initial 7 days. This means 15% of your bets during your first week are returned as cash, with no wagering requirements attached. The rakeback is applicable to all types of bets, including slots, sports, and live games.

As an alternative, new players may choose a 100% match on their first deposit of up to $500 in bonus funds. This bonus comes with a 40x wagering requirement before any winnings can be cashed out. The rakeback offer, which is free of conditions, appears more attractive for many. Additionally, linking your Gamdom account to Steam enhances your experience, as it increases your XP tenfold when playing casino games or placing bets. This linkage also improves the rewards system.

Though not the largest welcome bonuses in the market, Gamdom’s offers still provide significant added value for new players. The straightforward 15% rakeback is an appealing feature, allowing players to regain a portion of their initial wagers. This offer is worth considering for those new to the site, providing an extra incentive as they explore Gamdom’s offerings.

Gamdom Promotions and Loyalty Program

Gamdom rewards its loyal players with a variety of continuous promotions and a lucrative loyalty scheme. The platform offers daily, weekly, and monthly promotions that enhance player value. For instance, “cash rains” spontaneously distribute surprise winnings, reaching up to $5,000, directly in the live chat. Additionally, Gamdom hosts frequent tournaments spanning casino games, sports betting, and esports, featuring substantial prize pools.

The loyalty program at Gamdom provides escalating benefits and bonuses as players advance in levels. The more active players are, the more rewards they accrue, including increased daily cashback, bonuses on birthdays and holidays, as well as complimentary monthly gifts. Dedicated VIP support is another perk, with loyal members receiving personalized assistance from their own VIP host.

Gamdom distinguishes its loyalty program by eliminating wagering requirements. Rewards are immediately available for cash withdrawal without any obligatory playthrough. Participants progress through six levels, from Bronze to Royal, by accumulating experience points (XP) through their wagers.

Advancing to higher tiers rewards players with greater daily cashback, birthday and holiday bonuses of up to $5,000, improved referral commissions, and substantial monthly cash awards. This extensive VIP program offers compelling reasons for players to continue engaging with Gamdom.

Gamdom Payment Methods

Gamdom provides a variety of cryptocurrency payment options, allowing players to easily deposit funds or cash out their winnings. Available deposit methods include traditional bank transfers via VISA or Mastercard, popular cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and Bitcoin Cash, as well as e-wallet options like PayPal, Google Pay, PaySafeCard, and virtual skins.

For those preferring non-crypto methods, Gamdom supports deposits in several fiat currencies, including the United States Dollar (USD), Canadian Dollar (CAD), Euro (EUR), Russian Ruble (RUB), South Korean Won (KRW), and Japanese Yen (JPY). Upon depositing, funds are transformed into either virtual skins or cryptocurrency coins, reflecting the current value of the currency used. This conversion facilitates gambling activities on the platform.

To initiate a withdrawal, players are required to input their cryptocurrency wallet ID or choose the virtual skins they desire to cash out, depending on the available withdrawal options. Withdrawals can be made in popular cryptocurrencies like Bitcoin, Bitcoin Cash, Litecoin, and Ethereum, or in virtual skins for games such as CS: GO, Rust, Team Fortress 2, and Dota. Cryptocurrency withdrawals are processed swiftly, offering near-instant transactions without the need for KYC verification, except in cases where large amounts are being withdrawn.

Is Gamdom a Legit Casino?

Gamdom is a fully licensed and reputable casino that has established a strong presence in the industry over several years, earning a stellar reputation. According to reviews, Gamdom is committed to providing provably fair gaming, enabling players to independently verify the fairness of game outcomes. This system ensures the utmost transparency and guarantees that the games cannot be manipulated by the casino.

Moreover, there have been no reports of Gamdom engaging in any malicious activities, such as withholding players’ funds, which reinforces the trust players place in the platform for safeguarding their deposits. Since its inception in 2016, Gamdom Casino has been operating legally and is recognized as one of the premier CS: GO casino sites known for its legitimacy and safety. The site employs advanced security measures, including SSL encryption protocols, to protect user data and transactions.

Is Gamdom a Safe Platform?

When assessing the credibility of an online gambling platform, the security of both your financial assets and personal details is of the utmost importance. Gamdom ensures a secure playing field for its users through its robust security measures and protocols. The platform employs 128-bit SSL encryption alongside secure socket layer protocols to safeguard all data in transit, effectively blocking unauthorized access to player information.

All financial transactions are handled by reputable international payment processors, ensuring Gamdom does not directly manage or retain any player funds. Cryptocurrency deposits are securely transferred to the player’s Gamdom wallet. Furthermore, the platform exclusively features provably fair games from esteemed providers such as Evolution and Pragmatic Play, offering players the ability to independently confirm the fairness of game results.

For any concerns or queries, Gamdom’s customer support team is readily available around the clock, guaranteeing quick and efficient resolution of any issues, thereby enhancing the overall customer experience. For more detailed inquiries, players are encouraged to reach out to support@gamdom.com. Typically, responses are delivered within a few hours.

Final Thoughts

As we wrap up our Gamdom review, it’s clear that this platform is not just another online casino; it’s a comprehensive gambling ecosystem that skillfully blends the excitement of cryptocurrency betting with the communal joy of social gaming. From its inception in 2016, Gamdom has stayed true to its mission of offering a provably fair gaming environment, while continuously expanding its offerings to include a vast array of casino games, sports betting, esports betting, and unique, original titles.

What sets Gamdom apart is not just its extensive game library or the convenience of its crypto and fiat banking options, but the vibrant community it has cultivated. The social aspects of Gamdom—be it through live chat interactions, real-time betting feeds, or competitive tournaments—enhance the gaming experience, making it more engaging and enjoyable for players around the globe.

Whether you’re a seasoned gambler or new to the world of online betting, Gamdom offers a dynamic and secure platform where you can indulge in your favorite casino games, place bets on a wide range of sports and esports events, or simply enjoy the thrill of gaming in a lively, interactive community. As the world of online gambling continues to evolve, Gamdom is well-positioned to remain at the forefront, offering an exceptional blend of entertainment, innovation, and community spirit.

Exchange Interest Proves Blockchain Interoperability Interest Is Growing

https://blockchainreporter.net/exchange-interest-proves-blockchain-interoperability-interest-is-growing/

Blockchain interoperability has long been talked about but has only recently been seeing the attention it deserves from both industry leaders and investors. Router Protocol, a leading interoperability company in the space, has seen immense interest from the Bybit community during the ByVote process of getting listed on the popular exchange.

The interoperability token received over 60 million votes, beating other tokens by greater than 10:1. Ramani Ramachandran, CEO of Router Protocol, explains why blockchain interoperability is paving the way for a more interconnected and decentralized ecosystem, and why the interest is coming now.

Q1: Can you briefly explain the benefits of interoperability?

Interoperability has the power to connect the entire decentralized blockchain space, allowing each chain to benefit from users, liquidity, and the popularity of all connected blockchains. Shared liquidity is the biggest immediate benefit, and as the industry grows it can align projects under the mantra of “A rising tide lifts all boats”.

Q2: Why is interoperability seeing such an increased interest right now?

I believe that, as the industry matures, infrastructure and interoperability will continue to take center stage. These are the truly important and fundamental aspects of the technology we all rely on, and average crypto users will slowly prioritize this more and more over the typical “hyped” sectors of the space. 

Q3: Where does the importance of interoperability fall within the industry?

Interoperability is perhaps the most important aspect of our industry, and what can truly set us apart from other private networks. When we are all connected, private blockchains will not stand a chance and decentralization will truly shine.

Q4: Do you believe the interest will continue to grow in the near future?

Absolutely, the more the industry matures the more everyone will be focused on building out the fundamentals of the space to ensure long term success.

Q5: How does Router Protocol’s recent victory in ByBit’s ByVote reflect the emphasis on interoperability infrastructure in the cryptocurrency industry?

The Router Protocol’s token, $ROUTE, was recently introduced on ByBit, one of the industry’s most popular exchanges. Our token received over 60 million votes to achieve this, and in my opinion, shows the broader market’s interest in interoperability tokens.

Infrastructure has lived in the shadows of other more hyped coins for years, but we have seen more and more interest in the last few months, suggesting it may very well become the main talking point of this bull run. With more of an emphasis on infrastructure, the entire space will be able to build out and achieve success on a fundamental level regarding interoperability, security, and user experiences.

Q6: What is Router doing to drive the interconnectedness of the blockchain space?

Router recently launched Router Nitro, an intent-based cross-chain bridge that allows the seamless exchange of thousands of tokens across dozens of the most popular chains. This allows these chains to communicate and work together in an extremely cheap, fast, and secure way.

The Way Forward

The increasing interest in blockchain interoperability, as demonstrated by Router Protocol’s significant achievement in ByBit’s ByVote process, indicates a growing recognition of its foundational importance within the cryptocurrency industry. Router Protocol’s CEO, Ramani Ramachandran, has effectively highlighted the critical role interoperability plays in creating a more interconnected, decentralized ecosystem.

The overwhelming support for Router’s interoperability token in the ByVote, receiving over 60 million votes, underscores the community’s shifting priorities towards fundamental infrastructure over transient trends. This paradigm shift towards infrastructure, particularly interoperability signals a maturing market that values long-term success and a more unified blockchain space.

Router’s initiatives, like Router Nitro, are at the forefront of driving this essential interconnectedness, ensuring a more cohesive and efficient blockchain environment. As the industry continues to evolve, the emphasis on interoperability is expected to grow, shaping the future of decentralized networks and fostering a more integrated, accessible, and scalable blockchain ecosystem.

Leap 6 Upgrade: EOS Unveils Groundbreaking Savanna Consensus Algorithm

https://blockchainreporter.net/leap-6-upgrade-eos-unveils-groundbreaking-savanna-consensus-algorithm/

In a landmark update for the blockchain community, EOS is set to introduce Leap 6.0, featuring the revolutionary Savanna consensus algorithm on July 31st. This significant technological advancement promises to redefine the landscape of blockchain transactions by enabling faster finality, thus creating irreversible consensus transactions over 100 times quicker than its predecessors.

The impending Leap 6.0 upgrade underscores the necessity for cooperation and preparedness among all participants in the EOS ecosystem. Following the strides made since the Antelope Leap 3.1 consensus upgrade, the community is poised for a smooth transition. Infrastructure providers and technical partners within the EOS ecosystem are strongly encouraged to take note of the upcoming critical dates as the Leap 6 upgrade approaches.

The final release of Leap 6 is set for July 10th, marking the commencement of the upgrade process. Following this, there is a recommended upgrade period for EOS Nodes spanning from July 11th to July 30th, a crucial window designed to ensure seamless network synchronization across all nodes.

The culmination of this process is the hard fork on July 31st, which represents the ultimate deadline for all upgrades to be completed. This carefully structured timeline underscores the critical importance of readiness among node operators. Adhering to these dates is essential to leverage the full benefits of the Leap 6 upgrade and to ensure ongoing network harmony and synchronization.

A New Era in Blockchain Technology

Leap 6 heralds the introduction of Instant Finality through the Savanna algorithm, a cutting-edge development inspired by VMware Research’s HotStuff consensus. This innovative algorithm is a leap forward, upgrading block-based consensus chains with advanced cryptographic techniques and aggregate BLS signatures, thus drastically reducing time to finality and enhancing scalability.

Savanna is not merely an algorithmic enhancement; it is a paradigm shift ensuring transaction finality in seconds, thereby setting new efficiency benchmarks and elevating user experiences in the EOS Network. The update also paves the way for significant cryptographic advancements. With the integration of aggregate BLS signatures, verified in milliseconds, EOS introduces an infrastructure conducive to developing ZK proof systems.

This helps in the advancement of blockchain privacy and security standards through confidential transactions and private addresses. Another notable feature of Leap 6 is its potential to reconfigure traditional Block Producer roles into Block Proposers and Block Finalizers. This reconfiguration, subject to community consensus, aims at decentralizing network governance further and enhancing security and efficiency through clear division of labor in block validation processes.

Vision for the Future

Leap 6.0 is more than an upgrade; it is a testament to EOS’s commitment to innovation and community-driven development. By integrating the Savanna consensus algorithm, EOS not only enhances its network’s performance and user experience but also solidifies its position as a leader in the blockchain space. The upgrade supports the EOS Network Foundation’s vision for a decentralized future, emphasizing collaboration, ecosystem funding, and technological advancement.

With the integration of EOS EVM, the platform bridges the EOS and Ethereum ecosystems, offering unparalleled speed, performance, and compatibility. This fosters a more inclusive and interconnected blockchain environment, enabling developers to leverage the best of both worlds.

As EOS continues to drive forward with its third-generation blockchain platform and the EOS VM, the Leap 6.0 upgrade represents a significant milestone in its journey towards a more efficient, secure, and user-friendly blockchain experience. The EOS community and its stakeholders look forward to embracing this new chapter in blockchain evolution, heralding a future of limitless potential and innovation.

Masa Prepares for April Mainnet Launch with Over 1.2M Wallets and 23M Data Points

https://blockchainreporter.net/masa-prepares-for-april-mainnet-launch-with-over-1-2m-wallets-and-23m-data-points/

Masa, the foremost decentralized network for personal data, has experienced remarkable growth since its inception in August 2022, accumulating more than 1.2 million unique wallets and surpassing 23 million proprietary data points. Additionally, despite a bear market, it has attracted over 40,000 node operators to its Masa oracle testnet in the last 18 months.

This momentum highlights the growing demand among users for complete control over their data, propelling Masa to become one of the quickest expanding Web3 communities as it approaches its eagerly awaited mainnet launch in April. Additionally, more than 70 prominent Web3 companies, including Polygon, zkSync, QuickSwap, Injective, and Celo, have become early adopters of Masa’s offerings.

In the age of AI, Masa is creating a scalable, secure, and robust worldwide data marketplace. The platform enables millions of developers to craft innovative apps with a privacy-centric approach to user data. In addition, Masa has secured over $9.2 million in investments from top backers like DCG, Anagram, and GoldenTree and has been nurtured by Coinlist’s Seed Program and Binance’s Most-Valuable-Builder Accelerator.

Shaping the Future of Data Autonomy and Web3

Currently, personal data, ranging from browsing histories to Twitter posts, is confined within closed ecosystems dominated by large tech companies. This personal information is often redistributed without the user’s approval or financial recompense. The rapid expansion of AI technologies has further intensified this grab for data, with personal information being utilized extensively to train AI models and agents.

Masa is dedicated to transferring the control of personal data back to the individuals. It has introduced Zero-Knowledge Soulbound Tokens (zkSBTs), a cutting-edge encryption technology, which acts as a personal data storage solution without the need for cookies. This technology securely encrypts and stores an individual’s digital activities and social connections, encompassing internet browsing history and decentralized application usage, within a private zkSBT data locker, ensuring complete privacy.

In addition, Masa has announced that its public token sale will occur on CoinList, a highly esteemed platform in the sector, on March 7, 2024, at 16:00 UTC. Users interested in the community sale should register by the deadline of March 4, 2024, at 12:00 UTC. Over 300,000 individuals have already registered for the Masa token airdrop. This eagerly awaited release of the MASA token aligns perfectly with current market trends favoring projects centered on data and artificial intelligence.

Masa Co-founder Calanthia Mei said, “In the age of AI, our personal data is mined and resold by tech companies every day to train AI models and AI agents. Everyone deserves to own and earn from their data. Masa’s invention of zkSBT finally makes this dream a reality: in a little over a year, Masa Network rapidly amassed 1.2 million user wallets, who contributed over 23 million proprietary data points. Our CoinList debut is giving limelight to our vision: shifting the power of data back to users. ”

Masa enables users to have ownership, share, and monetize their data. Through Masa, users can ensure their personally identifiable information remains confidential while being circulated in the data marketplace and among developers. Individuals with internet access can contribute their data and receive passive income through MASA tokens.

Amidst the rapid growth of AI models, Masa stands at the forefront, providing extensive volumes of privacy-centric personal training data to fuel the next generation of AI applications. Developers can harness data from the Masa Network to train AI models, create new applications, enable decentralized advertising, and beyond. This is achieved privately and securely through Masa’s innovative zkSBTs, ushering in the actualization of the data economy.

Bitcoin at the Forefront as Digital Asset Inflows Reach Record $2.45 Billion

https://blockchainreporter.net/bitcoin-at-the-forefront-as-digital-asset-inflows-reach-record-2-45-billion/

In an astonishing week for digital asset investment, the latest report from CoinShares reveals that inflows into digital asset investment products have shattered previous records, amassing a staggering $2.45 billion in a single week. This surge propels the year-to-date inflows to an impressive $5.2 billion, showcasing a robust and growing investor appetite for cryptocurrency and related products.

The inflows have not only underscored the burgeoning interest in digital assets but have also pushed the total assets under management (AuM) to $67 billion, a figure not seen since the heights of December 2021. This remarkable milestone highlights the resilience and expanding appeal of the digital asset market amidst a landscape of financial uncertainties and shifting investment trends.

A Closer Look at the Geographic Distribution

The United States emerges as the unequivocal leader in this investment frenzy, commanding 99% of the total inflows, which amounts to approximately $2.4 billion. This overwhelming dominance indicates a significant shift towards spot-based ETFs, suggesting a maturing market with investors seeking more traditional and regulated avenues to enter the crypto space. The wide distribution of inflows among various providers further underscores the diversification and depth of interest across the board.

Conversely, Europe presents a mixed picture with Germany and Switzerland witnessing modest inflows of $13 million and $1 million respectively, while Sweden faced outflows totaling $26 million. This divergence reflects the nuanced regional appetites and regulatory landscapes influencing investment decisions in digital assets across the globe.

Bitcoin and Ethereum Lead the Charge

The investment inflow has been predominantly concentrated in *BTC*, capturing over 99% of the total influx. This demonstrates unwavering confidence in Bitcoin as the flagship digital currency, despite some investors exploring short positions, which themselves attracted $5.8 million. *ETH* also enjoyed positive momentum, with $21 million in inflows, signifying its continued relevance and potential within the digital asset ecosystem.

Notably, other cryptocurrencies such as Avalanche (AVAX), Chainlink (LINK), and Polygon (MATIC) have consistently attracted weekly inflows, signaling a broader interest beyond the leading coins. These inflows reflect investors’ search for diversification within their digital asset portfolios, exploring potential growth opportunities beyond the established giants.

Crypto Market Gets Bullish Momentum

The crypto market has responded to these developments with palpable optimism. Bitcoin’s price has surged to $52,152, marking a 0.42% increase over the last 24 hours and an impressive 27.11% uplift over the past month. This bullish trend is further supported by a 1.26% increase in Open Interest for Bitcoin futures, indicating a healthy and dynamic market environment.

The concentration of Open Interest on platforms like Binance, Bybit, and OKX illustrates the global nature of Bitcoin trading and the diverse ecosystems supporting its growth. This dynamic interplay between investment inflows and market performance underscores the vibrant and evolving landscape of the digital asset sector.

As the digital asset market continues to mature, the unprecedented inflows into Bitcoin spot ETFs and the broader crypto space reflect a significant shift in investor sentiment and strategy. With regulatory clarity and institutional adoption on the horizon, the digital asset market stands at the cusp of a new era of growth and innovation.

Trust Wallet’s SWIFT Beta Goes Live, Simplifying Web3 with Account Abstraction

https://blockchainreporter.net/trust-wallets-swift-beta-goes-live-simplifying-web3-with-account-abstraction/

In a significant move to demystify and secure the Web3 experience for millions, Trust Wallet, the premier mobile self-custody wallet platform, announced the public beta launch of SWIFT. This cutting-edge Smart Contract Wallet, powered by Account Abstraction (AA), represents a pivotal step towards making Web3 accessible and secure for a wider audience, with the ambition of welcoming the industry’s next billion users.

Eowyn Chen, CEO of Trust Wallet, said, “Leveraging our pioneering role in the Web3 wallets industry, we’re thrilled to help evangelize AA technology to more people. True to our mission to build a seamless and open Web3 hub for mass adoption, we continually strive to enhance security and onboarding experiences, especially for Web3 newcomers. By integrating AA technology with practical, yet secure key management solutions, we anticipate a significant upgrade in user experience, pre-empting a surge in Web3 adoption when a potential bull market is around the corner.” 

Setting New Standards in Web3 Security and Simplicity

SWIFT emerges as a solution to the intricate challenges that have deterred newcomers from embracing Web3, including the complexity of the technology, security vulnerabilities, and the daunting task of managing secret phrases and private keys. With its innovative approach, SWIFT aims to redefine the standards for Smart Contract wallets by enhancing the user experience and fortifying security measures.

One of the hallmark features of SWIFT is its native gas fee abstraction capability, which accepts gas fees in over 200 different tokens—marking a 350% increase over what is currently available in the market. This expansion has been made possible through strategic partnerships with Stackup and Biconomy. Moreover, SWIFT simplifies transactions with a one-click feature and secures them with biometric-protected Passkeys, effectively lowering the barrier to entry for Web3 novices.

From a security standpoint, SWIFT distinguishes itself as a highly secure Smart Contract wallet. Trust Wallet has laid a strong emphasis on security right from the initial design phase, conducting multiple internal and external audits in collaboration with renowned firms such as Halboard and Certik.

Furthermore, with Ancilia’s support, Trust Wallet ensures continuous monitoring of smart contracts to safeguard against potential cyber threats. At the heart of SWIFT’s public beta launch is its support for seven low-cost and scalable EVM-compatible chains, including Arbitrum, Polygon, BSC, opBNB, Base, Optimism, and Avalanche, with plans to incorporate more in the future.

Trust Wallet has also introduced gas discounts with TWT tokens and gas fee sponsorships with partners during the beta phase to promote the adoption of Account Abstraction. Available as an additional wallet option within the Trust Wallet app for both Apple iOS and Android devices, SWIFT offers users the choice between the new beta version and the traditional wallet type already trusted by 80 million users globally.

Trust Wallet is a comprehensive “one-stop shop” self-custody wallet and gateway to Web3, enabling users to fully own, control, and utilize their digital assets. With a user base of 80 million worldwide, Trust Wallet simplifies, secures, and enhances the Web3 experience, supporting over 10 million digital assets across more than 100 blockchains. As a true multi-chain crypto wallet, Trust Wallet offers unfettered access to the Web3 ecosystem, ensuring users can navigate the digital asset space safely and without restrictions.

Bitget Token (BGB) Surges to New All-Time High of $1.05, Reflecting Market Confidence

https://blockchainreporter.net/bitget-token-bgb-surges-to-new-all-time-high-of-1-05-reflecting-market-confidence/

In a remarkable display of market momentum, Bitget Token (BGB) has ascended to an unprecedented all-time high of $1.05, symbolizing a significant vote of confidence from the investment community and underlining the token’s potential for further appreciation. This surge is part of a broader bullish wave in the cryptocurrency market, driven by Bitcoin’s climb to $52,000. The positive sentiment has not only rejuvenated interest in leading cryptocurrencies but has also catalyzed a bullish trend across a variety of altcoins and exchange-native tokens, with BGB emerging as a standout performer.

BGB’s Remarkable Performance

The ascent of BGB to its current zenith is a story of resilience, strategic innovation, and a bullish outlook shared by both investors and the cryptocurrency community. Over the preceding four months, BGB has charted a commendable path of growth, rallying from $0.4 to $1.05 before achieving its latest milestone. This steady climb, marked by a lack of volatile fluctuations, underscores a solid foundation of investor confidence and reflects Bitget’s operational success.

As we progress into 2024, Bitget‘s commitment to aligning the token’s trajectory with the platform’s expansion promises to unlock even greater benefits for BGB holders. The current crypto bull market has spotlighted the distinctive advantages that BGB token holders can leverage, particularly in terms of staking rewards and transaction efficiencies.

Staking BGB not only yields a competitive annual return of 2% but also affords daily free withdrawal limits, offering a hedge against the typically high transaction fees prevalent in bullish market phases. Moreover, Bitget’s foray into innovative launchpad projects like T2T2 and TonUp provides BGB holders with exclusive access to early-stage digital assets, amplifying the potential for wealth generation during bullish market conditions.

BGB’s Future Growth Projections

When juxtaposed with other native exchange tokens such as OKX’s OKB, BGB’s value proposition shines through its comparative undervaluation. Despite Bitget’s daily trading volume for contracts approaching a formidable $9 billion — around 70% of OKX’s volume — BGB’s market capitalization is relatively modest at $1.1 billion, especially when compared to OKB’s $15 billion.

This disparity signals an untapped growth potential for BGB, especially considering the cyclic nature of exchange businesses and the anticipated bull market dynamics in 2024. Meanwhile, the interplay between BGB’s intrinsic value and Bitget’s operational milestones is expected to catalyze further appreciation of the token. With Bitget’s trading volumes showcasing a robust 60% lead over counterparts like OKX, coupled with BGB’s compelling case of undervaluation, the token is primed for a significant upswing.

Crypto analysts project that BGB could see a 5-8 fold increase in its valuation, potentially reaching a price range of $3 to $5, should Bitcoin’s value triple in the forthcoming year. Overall, the surge of BGB to its new all-time high is a multifaceted achievement, heralding a period of growth and innovation. Bitget’s strategic initiatives aimed at boosting holder value and capitalizing on favorable market conditions are set to propel BGB toward significant appreciation.

As the digital asset market continues to mature, BGB distinguishes itself not just as a token of transactional utility, but as a cornerstone of Bitget’s ambitious vision for a globally interconnected and value-driven digital asset ecosystem. This narrative not only underscores the robust platform and innovative solutions offered by Bitget but also highlights the strategic significance of BGB within the broader cryptocurrency market landscape.

Binance Futures Unveils Exciting Challenge with Tesla Model Y and Bitcoin Vouchers Up for Grabs

https://blockchainreporter.net/binance-futures-unveils-exciting-challenge-with-tesla-model-y-and-bitcoin-vouchers/

In a groundbreaking announcement, Binance Futures, the foremost and most liquid cryptocurrency derivatives platform, has launched the Futures Ultimate Challenge. This innovative competition beckons participants to engage in a series of contests over four weeks, with the tantalizing prospect of winning a Tesla Model Y and Bitcoin token rewards through accurate Bitcoin price predictions.

Scheduled to take place from February 18, 2024, at 14:00 UTC to March 17, 2024, at 13:59 UTC, the Binance Futures Ultimate Challenge is setting the stage for an unparalleled trading experience. This challenge underscores Binance Futures’ commitment to fostering engagement and excitement within the crypto trading community.

Offers Tesla Model Y and Bitcoin Rewards

A highlight of the challenge is the Daily Bitcoin Futures Price Prediction contest. Every day, from 14:00 UTC to 13:00 UTC the following day, individuals with a Futures account can predict the marked price of the BTCUSDT Perpetual Contract for 14:00 UTC the next day. The participant whose prediction aligns most closely with the actual price will be awarded a 0.05 BTC token voucher, providing a thrilling incentive for traders to test their market foresight.

The Ultimate Challenge also introduces the Weekly Tesla Challenge, where participants can earn Golden Tickets by completing specific tasks. Accumulating more Golden Tickets increases one’s chances of winning a Tesla Model Y weekly. The tasks range from making a first-time Futures trade for new users to achieving a daily Futures trading volume of at least 10,000 USDT for all users, and even referring friends to complete their first Futures trade.

To ensure transparency and competitiveness, Binance Futures will maintain a leaderboard, updated hourly, displaying participants’ rankings based on their Golden Ticket counts. This leaderboard will not only foster a competitive spirit but also provide participants with a clear view of their standings in the challenge.

The Ultimate Challenge is more than just a competition; it’s an opportunity for traders to engage with the Binance Futures platform in a novel and exciting way. With the allure of winning a Tesla Model Y or Bitcoin token vouchers, Binance Futures is set to captivate the crypto trading community like never before.

As a global leader in blockchain ecosystem and cryptocurrency infrastructure, Binance continues to pave the way in offering innovative and comprehensive financial products. The Binance platform is trusted by millions worldwide, offering an extensive suite of crypto products and services ranging from trading and finance to education, data and research, and more, all aimed at enhancing the freedom of money for users.

For those interested in taking part in the Binance Futures Ultimate Challenge or seeking more information, including terms and conditions, visit the official Binance Futures page. This challenge not only promises exciting rewards but also reinforces Binance’s position as a trailblazer in the cryptocurrency trading space, inviting traders to explore the vast potential of crypto derivatives trading.

Nexera Exchange Announces Trading Competition with 500k NXRA Prize Pool

https://blockchainreporter.net/nexera-exchange-announces-trading-competition-with-500k-nxra-prize-pool/

In a remarkable move to energize its community and attract new users, Nexera Exchange, a pivotal figure in the decentralized finance (DeFi) sector, has announced the launch of its inaugural trading competition. Scheduled to commence on February 22, 2024, and conclude on March 3, 2024, this event marks a significant milestone in the platform’s journey, offering a staggering prize pool of up to 500,000 NXRA tokens.

This initiative stems from a proposal made by the AllianceBlock community through its first-ever community-initiated DAO proposal in September last year. Aimed at driving engagement and participation on the Nexera Exchange, the proposal received unanimous support, fulfilling the necessary quorum and setting the stage for an unprecedented trading competition.

Enhancing NXRA Utility and User Engagement

The competition is designed to celebrate the launch of Nexera Exchange and its innovative DeFi features, promoting active participation among traders and rewarding them with NXRA tokens. This comes at a time when the shift towards decentralized exchanges (DEXs) is becoming increasingly pronounced, driven by concerns over asset security and self-custody that have plagued centralized exchanges in recent years.

Nexera Exchange, with its user-friendly interface and robust security features, embodies the best of both worlds, offering the convenience of centralized platforms while maintaining the integrity and transparency of a DEX. This event not only aims to boost the platform’s visibility but also to enhance the utility and demand for the NXRA token within the AllianceBlock ecosystem.

The competition introduces a novel three-tiered leaderboard reward system, ensuring that traders of all volumes have a chance to win. The total prize pool is dynamic, increasing with the total trading volume, starting at 50k NXRA for the first $15 million in trading volume, and could reach up to 500k NXRA if the trading volume hits $150 million.

  • Gold Leaderboard: Focuses on trading volume, rewarding the top three traders based on their total volume in USD across all trading pairs on the Ethereum and Arbitrum networks.
  • Silver Leaderboard: Based on daily trading activity, encouraging traders to remain active and explore different token pairs for additional points.
  • Bronze Leaderboard: A raffle accessible to anyone who purchases at least $100 worth of NXRA, with five lucky winners splitting the prize pool.

Community-Driven Initiative for a Robust Ecosystem

This competition is a testament to the power of community engagement in shaping the future of blockchain and DeFi projects. By leveraging the DAO treasury and aligning with the community’s vision, AllianceBlock is fostering a vibrant and inclusive ecosystem that supports the growth and utility of the NXRA token.

As the competition nears, the excitement within the AllianceBlock and Nexera Exchange communities is palpable. This event not only promises substantial rewards for participants but also signifies a leap towards increased adoption and recognition of the Nexera Exchange and the broader AllianceBlock ecosystem.

Participants and enthusiasts are encouraged to keep an eye on AllianceBlock and Nexera Exchange’s social media channels for updates and details about the competition. As the digital asset landscape continues to evolve, initiatives like these underscore the importance of community involvement and innovation in driving the future of finance.

$1.67 Billion in Bitcoin and Ethereum Options Poised to Expire Amid Bullish Signals

https://blockchainreporter.net/1-67-billion-in-bitcoin-and-ethereum-options-poised-to-expire-amid-bullish-signals/

A significant event is on the horizon for *BTC* and *ETH* that has both traders and analysts on the edge of their seats. According to a recent tweet from Greeks.live, a notable financial analytics firm focused on cryptocurrency markets, an enormous volume of cryptocurrency options is set to expire soon.

This event encompasses 21,000 Bitcoin options and 200,000 Ethereum options, representing a notional value of approximately $1.67 billion. The upcoming expiry could have substantial implications for the market, given the current dynamics and recent price movements.

The Bitcoin options set to expire boast a Put/Call Ratio of 0.9, with a Maxpain point pegged at $46,000. The Maxpain point is the price level at which the largest number of options (both puts and calls) would expire worthless, minimizing the payout for option holders and potentially maximizing the profit for option writers.

With a notional value of $1.1 billion, the impact of this expiry could be significant, particularly as Bitcoin has recently seen a surge in price, topping $52,000. This represents a 20.64% increase over the last 30 days, although the price has slightly dipped by 0.54% to $51,956.

Ethereum’s upcoming options expiry is also noteworthy, with 200,000 ETH options nearing their expiry date. These options have a Put/Call Ratio of 0.62 and a Maxpain point of $2,400, with a notional value of $570 million. Ethereum’s market dynamics are also similar to Bitcoin’s as ETH price has topped $2,800. Moreover, the implications of this options expiry are equally critical for ETH’s price trajectory and market stability.

A Complex Interplay

The crypto market has been particularly buoyant this week, with major term implied volatilities (IVs) indicating a clear upward trend. However, the derivatives market, including options and futures, has been relatively flat, attributed partly to the Chinese New Year holiday. This period typically sees a slowdown in trading activity, as investors take a break.

However, with the holiday coming to an end, a resurgence in trading volume and market activity is expected, especially from Chinese investors returning to the fray. The anticipation surrounding the options expiry is heightened by the current bullish sentiment in the crypto market.

Investors and traders are increasingly betting on Bitcoin reaching new all-time highs before its next halving event, reflecting a robust confidence in the market’s growth potential. Overall, the imminent options expiry is a critical juncture for the cryptocurrency market, with potential implications for price volatility and market dynamics.

As the expiry date approaches, the market is likely to witness increased activity, with potential shifts in the pricing of both Bitcoin and Ethereum. The impact will depend on various factors, including the final settlement prices, the distribution of open interest across different strike prices, and the overall market sentiment.

Stacks Achieves 598% Market Cap Growth, Setting Stage for Nakamoto Upgrade

https://blockchainreporter.net/stacks-achieves-598-market-cap-growth-setting-stage-for-nakamoto-upgrade/

In an insightful report titled “State of Stacks Q4 2023,” distributed crypto data library Messari has unveiled significant milestones and transformative growth within the Stacks ecosystem, a premier Layer-2 solution for the Bitcoin network. Authored by analysts Red Sheehan and Mike Kremer, the report highlights the pivotal role of Stacks in amplifying Bitcoin’s functionality through smart contracts and decentralized applications, marking a year of unparalleled progress across revenue, market capitalization, and total value locked (TVL).

The staggering figures presented in the report are a testament to Stacks’ explosive growth. Revenue surged by 3,386% quarter-over-quarter and 3,028% year-over-year, reaching $637,000. The market capitalization of STX, Stacks’ native digital currency, soared by 203% quarter-over-quarter and 598% year-over-year to $2 billion. Furthermore, the TVL in the ecosystem witnessed a 363% increase quarter-over-quarter and a 773% year-over-year jump to $61 million. Such metrics underscore Stacks’ burgeoning impact on the DeFi sector and its significant lead in the Bitcoin Layer-2 space.

The anticipation surrounding the Nakamoto upgrade, expected to launch in April 2024, along with the sBTC release set for July, has generated considerable excitement. These upgrades promise to introduce enhanced features like faster blocks, 100% Bitcoin finality, reduced miner extractable value (MEV), and the enablement of sBTC, a decentralized L2 Bitcoin scaling solution, positioning Stacks for further advancements.

Transforming Bitcoin’s Landscape

Stacks distinguishes itself by leveraging Bitcoin’s robust security and capital foundation, coupled with the programmability afforded by its Proof-of-Transfer (PoX) consensus mechanism and the Clarity programming language. This unique combination expands Bitcoin’s utility, presenting Stacks as an indispensable infrastructure layer for broadening Bitcoin’s use cases beyond its traditional role as a digital gold.

The Messari report further highlights the dynamic user and transaction growth within the Stacks network, with average daily transactions and active addresses increasing by 52% and 65% quarter-over-quarter, respectively. This growth is attributed to the network’s innovative protocols and features, such as the STX20 Inscription protocol, which has significantly enhanced the network’s capacity to support complex transactions.

Preparation for the Nakamoto Release involved extensive testing and development, including the deployment of the Neon testnet, underscoring the community’s commitment to a seamless transition to more efficient blockchain operations. This upcoming release is anticipated to not only serve as a technological leap but also to broaden Stacks’ appeal to developers and investors seeking scalable and secure blockchain solutions.

The “State of Stacks Q4 2023” report not only underscores the significant achievements of Stacks but also highlights its critical role in the ongoing evolution of the Bitcoin ecosystem. By enabling smart contract functionality and decentralized applications on Bitcoin, Stacks is at the forefront of discussions on expanding and maturing the digital asset ecosystem, positioning itself as a leader in the Bitcoin L2 space by developer traction and market cap.

As Stacks continues to unlock Bitcoin’s potential as a programmable asset, its 2024 releases are eagerly awaited by the community, promising faster transaction speeds and innovations that could further cement its position in the blockchain landscape. Messari’s report is a beacon for investors, developers, and enthusiasts, offering a detailed analysis of Stacks’ journey and its contributions to democratizing access to information and wealth-building in the crypto economy.

QuickNode Announces Support for zkSync Hyperchains to Boost Blockchain Scalability and Privacy

https://blockchainreporter.net/quicknode-announces-support-for-zksync-hyperchains/

In a significant development for the blockchain industry, QuickNode, a leading blockchain infrastructure provider, has officially announced its support for zkSync hyperchains. This groundbreaking development aims to enhance scalability, speed, and data privacy for blockchain applications, positioning QuickNode at the forefront of blockchain innovation.

zkSync hyperchains, known for their cutting-edge zero-knowledge (ZK) technology, offer a scalable and privacy-focused solution for blockchain development. With the integration of hyperchains into QuickNode’s suite of custom chains, clients now have access to a robust platform that supports the rapid deployment of scalable and secure blockchain applications.

Hyperchains leverage ZK technology to ensure unparalleled data privacy, making them an ideal choice for enterprise use cases that require stringent data protection measures. This feature is particularly attractive for businesses aiming to develop blockchain-powered products without compromising on user privacy or compliance requirements.

Built on ZK Stack, a modular framework designed for easy customization and deployment of interoperable ZK-powered blockchains, hyperchains run parallel to the zkSync mainnet. This architecture allows for the permissionless development and deployment of zkEVM instances, with the layer 1 (L1) blockchain acting as a single source of truth. Additionally, assets can seamlessly bridge to hyperchains from zkSync, facilitating the free flow of liquidity.

Before the advent of hyperchains, enterprise adoption of blockchain technology was often hindered by speed and scalability challenges. Hyperchains address these issues head-on, enabling businesses to leverage blockchain’s benefits without sacrificing performance. With QuickNode’s infrastructure support, enterprises can focus on creating exceptional user experiences and quickly bringing their blockchain applications to market.

Rapid Deployment and Enterprise Growth

QuickNode’s hyperchains feature high configurability, interoperability, and shared liquidity options, underscoring the company’s commitment to providing versatile blockchain solutions. Through its modular approach to custom chains, QuickNode empowers enterprises to tap into its extensive partner network, accessing a comprehensive ecosystem of integrated Web3 services tailored to their specific needs.

The application of hyperchains spans various sectors, including gaming, artificial intelligence, and sports finance, offering a fast, secure environment for blockchain solution development. QuickNode’s infrastructure ensures rapid on-chain application deployment, supporting enterprises in their growth journeys.

Vassilis Tziokas, Head of Enterprise at Matter Labs, said, “Hyperchains are a great gateway for enterprises to onboard in the Web3 ecosystem through a technology stack that can be customized to meet their specific needs. In order to expand adoption of blockchain and zk technologies in the enterprise space, it is important that companies like QuickNode support the seamless development of hyperchains, making them available to a wider community.”

Jason Hunt, VP of Ecosystem at QuickNode, expressed, “We’re excited to expand our partnership with Matter Labs, incorporating their zkSync hyperchains into the QuickNode platform. Hyperchains introduce a unique blend of scaling, user experience, and privacy enhancements, critical for powering the next wave of adoption across the rollup ecosystem. Combined with QuickNode’s Custom Chain technology, we enable both startups and enterprises to launch and scale blockchains, tailor-made for their specific use cases and requirements.”

QuickNode’s global infrastructure, reliability, user-friendly interface, and comprehensive customer support make it an ideal partner for businesses seeking to innovate on the blockchain. The company’s collaboration with top blockchain infrastructure providers ensures a rich selection of add-ons for developing powerful decentralized applications (dApps).

zkSync, powered by state-of-the-art ZK technology, aims to scale Ethereum and bring cryptocurrency mainstream. Its mission to advance personal freedom resonates throughout its blockchain network, offering a trustless, secure, and privacy-preserving platform that is accessible and sovereign.

This development marks a significant milestone in blockchain development, promising to unlock new possibilities for enterprises and developers eager to explore the vast potential of blockchain technology and ZK innovations. It signals the dawn of an accessible, secure, and scalable blockchain future, where the potential of ZK technology and blockchain innovation can be fully realized, driving progress and prosperity in the digital age.

Bitcoin Price Faces Imminent Correction Based on TD Sequential, Analysts Warn

https://blockchainreporter.net/bitcoin-price-faces-imminent-correction-based-on-td-sequential-analysts-warn/

In a recent development that has caught the attention of cryptocurrency enthusiasts and investors alike, prominent crypto analysts have issued warnings about an imminent correction in the price of Bitcoin. According to Ali Martinez, a well-regarded figure in the crypto analysis sphere, the TD Sequential indicator has flashed a sell signal on the daily price chart of Bitcoin.

The analyst said that his indicator is suggesting a potential *BTC* correction period that could span one to four days. Martinez’s observations, shared via a tweet, emphasize the reliability of TD Sequential’s predictions, noting that its buy and sell signals since December 2023 have consistently been validated.

Adding to the discourse, Michaël van de Poppe, another influential crypto analyst, shared his insights on the current state of the Bitcoin market. Despite acknowledging the positive impact of inflows into spot Bitcoin ETFs, van de Poppe cautions that this factor alone does not dictate market movements.

His analysis of the market suggests that while the sentiment is “super bullish,” there are signs that the market may be “slightly overheated.” Van de Poppe expressed a tempered welcome for a minor Bitcoin price correction, seeing it as an opportunity for the market to recalibrate and return to a more grounded state.

Bitcoin Price Movements

As of the latest updates, the Bitcoin price stands at $52,301, marking a 1.31% increase over the last 24 hours and a significant 22.72% rise over the past month. This upward trajectory has propelled the market capitalization of Bitcoin to a staggering $1.03 trillion, reflecting a 1.35% increase.

However, the market’s volatility is underscored by recent data from Coinglass, which reveals that there have been $56.81 million in liquidations for Bitcoin in just the last 24 hours. This figure includes $19.57 million in long liquidations and $37.24 million in short liquidations, highlighting the precarious balance of bullish and bearish forces within the crypto market.

The warnings issued by crypto analysts Ali Martinez and Michaël van de Poppe underscore the volatile nature of the Bitcoin market, suggesting an imminent correction despite recent bullish trends. With Martinez pointing to the TD Sequential indicator’s sell signal and van de Poppe highlighting the market’s slight overheating, investors are advised to tread cautiously.

The potential correction, seen by some as a necessary recalibration, reminds stakeholders of the importance of vigilance and strategy in navigating the ever-changing landscape of cryptocurrency. As Bitcoin’s price dynamics continue to evolve, the insights from seasoned analysts provide valuable guidance for those looking to make informed decisions in a market characterized by rapid fluctuations and significant opportunities.

Ethereum (ETH) Sees Huge Whale-Driven Accumulation as Confidence Soars

https://blockchainreporter.net/ethereum-eth-sees-huge-whale-driven-accumulation-as-confidence-soars/

Ethereum (ETH) has seen a significant uptick in its price, driven by large-scale accumulations by cryptocurrency whales. According to recent insights shared by Lookonchain, a notable blockchain analytics platform, Ethereum’s price has surged by 24% since the beginning of February.

This increase is notably attributed to a whale who has aggressively purchased approximately 69.5K ETH, worth around $179 million, from leading exchanges such as Binance, Bybit, Bitfinex, and OKX in the same timeframe. This move underscores a growing confidence in Ethereum over other cryptocurrencies, signaling a potential shift in market dynamics.

Further emphasizing the bullish sentiment among major investors, Lookonchain disclosed another intriguing transaction by the same whale. This investor, previously bullish on Wrapped Bitcoin (WBTC), made a substantial pivot by exchanging 425 WBTC, valued at $21.9 million, for 7,918 ETH at an exchange rate of 0.05373 just four hours ago.

Ethereum Price Goes Bullish

As of the latest updates, Ethereum’s price stands at $2,796, marking a 1.81% increase in the last 24 hours and an impressive 10.42% rise over the past month. The trading volume for ETH has also seen a notable increase, up 16.64%, with the current figures reaching $22.41 billion.

This surge in trading activity and price is a positive sign for *ETH* enthusiasts and investors, indicating robust market health and investor interest. Moreover, data from Coinglass, a cryptocurrency analytics firm, shows that the Open Interest in Ethereum has climbed by 2.93% to a staggering $9.98 billion.

This increase is not just a number; it represents growing investor engagement and speculation on the future price movements of ETH. The distribution of this Open Interest across major exchanges is also noteworthy, with Binance leading at $2.46 billion, followed by Bybit at $1.52 billion, and OKX at $834.72 million, among others.

This whale-driven accumulation and the subsequent rise in Ethereum’s price and trading volume have sparked a wave of optimism across the crypto community. Analysts and investors alike are keenly watching these developments, as they could herald a new era of growth and stability for Ethereum and the broader cryptocurrency market.

With the landscape of digital assets continually evolving, such movements underscore the dynamic and unpredictable nature of the crypto world. As the Ethereum price continues to gain momentum and ETH ranks among one of the best crypto to buy now, the market waits with bated breath to see how these trends will unfold in the coming weeks and months.

Rocket Pool Announces Bounty for SSV Network Integration, Deadline Approaches

https://blockchainreporter.net/rocket-pool-announces-bounty-for-ssv-network-integration/

In an ambitious move to bolster its decentralized staking services, Rocket Pool has set a February 14th deadline for applications to its latest bounty program. This program is aimed at integrating the SSV Network with Rocket Pool, marking a significant step forward in the enhancement of Ethereum staking infrastructures.

The bounty, as outlined by Rocket Pool, seeks to incorporate several technical advancements into its ecosystem. Among the key components of this integration are the inclusion of the SSV node docker, the integration of the SSV Operator Secret Key (SK) Generator, and the generation of keys from Node Operator (NO) seeds. These elements are crucial for enhancing the security and efficiency of node operations within the Rocket Pool network.

Furthermore, the bounty outlines specific functionalities that applicants will need to address. These include the registration and removal processes for operators, which are essential for maintaining the integrity and flexibility of the network. Applicants are also tasked with implementing features that enable the checking and retrieving of SSV balances in the smart node, a feature that will provide greater transparency and control for users.

Another significant aspect of the proposed integration is the tracking of the number of validators managed by each operator. This functionality is aimed at improving the oversight and scalability of the network, ensuring that operators can efficiently manage their validators and contribute to the overall security and robustness of the Ethereum blockchain.

Rocket Pool’s Bid for Scalability

Rocket Pool’s initiative to integrate with the SSV Network is a testament to the platform’s commitment to innovation and security in the decentralized finance (DeFi) space. By enhancing its infrastructure with SSV technology, Rocket Pool aims to offer its users a more secure, efficient, and scalable staking solution. This integration is expected to attract a wider array of node operators and users, further solidifying Rocket Pool’s position as a leading decentralized staking provider on the Ethereum blockchain.

Applicants interested in contributing to this pivotal project have until February 14th to submit their applications. Rocket Pool has made a call to developers and technologists in the blockchain community to take part in this bounty, offering them an opportunity to play a significant role in the advancement of decentralized staking services.

As the deadline approaches, the anticipation within the Ethereum and broader blockchain community is palpable. The successful integration of the SSV Network with Rocket Pool could mark a new era in the evolution of Ethereum staking, offering enhanced security, efficiency, and scalability for all stakeholders involved.

Starknet’s STRK Airdrop to Benefit dYdX Users and Beyond

https://blockchainreporter.net/starknets-strk-airdrop-to-benefit-dydx-users-and-beyond/

In an electrifying update for the crypto community, the Ethereum layer-2 scaling solution Starknet has announced the official launch date of its eagerly awaited token airdrop. Scheduled for February 20, this groundbreaking “provisions program” is set to reward almost 1.3 million wallets with free STRK tokens, marking a significant milestone in Starknet’s evolution and its efforts to enhance blockchain scalability and efficiency.

The Starknet Foundation, the driving force behind this initiative, has outlined that a wide array of participants will be eligible for the airdrop. This includes dedicated Starknet users and developers, enthusiasts of decentralized apps (dApps) integrated with the network, and notably, Ethereum stakers who might not have directly engaged with Starknet’s offerings before.

As part of this generous airdrop, over 700 million STRK tokens are slated for distribution between February 20 and June 20, heralding the first phase of a plan to circulate 1.8 billion STRK tokens among the community and users. The initiative isn’t just about rewarding the community but is also aimed at establishing a robust governance model for Starknet. Here, the STRK token will play a pivotal role, granting holders significant voting power in the network’s future direction.

Among the beneficiaries are individuals who have interacted with or contributed to Starknet before November 15, with allocations ranging dramatically from 500 to a whopping 180,000 STRK, based on their activity levels. A notable highlight is the Starknet Early Community Members Program, which rewards over 2,000 pioneers for their early contributions, underscoring the network’s commitment to its foundational members.

Starkware’s Airdrop Bonanza

A significant focus of the airdrop is on users of StarkEx-powered dApps, notably the borrowing and lending platform dYdX. As one of the most popular platforms in the decentralized finance (DeFi) space, dYdX users are specifically recognized in this airdrop, highlighting the critical role they play in the ecosystem. Eligible dYdX users will receive 111.1 STRK, provided they engaged with the platform before June 1, 2022. This gesture not only rewards early adopters of dYdX but also strengthens the bond between Starknet and one of its most successful integrated platforms.

The inclusion of dYdX users in the Starknet airdrop underscores the interconnectedness of the DeFi ecosystem and the importance of collaboration and mutual support among platforms. By rewarding these users, Starknet is not only acknowledging their contribution to the network’s growth but also incentivizing further engagement and development within the DeFi space.

Moreover, the airdrop extends its generosity to Ethereum developers, contributors, and stakers, broadening the scope to include those who may have not directly engaged with Starknet or StarkEx-powered applications. For instance, Ethereum stakers with validators active before the significant Merge event in 2022 are eligible for 1,800 STRK per validator, with enhanced rewards for those who staked before the Beacon Chain’s inception in December 2020.

The airdrop represents a monumental achievement for Starknet, which has seen its total value locked (TVL) surge from under $1 million at the beginning of 2023 to over $56.7 million, according to data from DefiLlama. This impressive growth, fueled in part by anticipation of the airdrop, highlights Starknet’s burgeoning impact on the crypto and DeFi sectors.

As the February 20 launch date approaches, the crypto community is abuzz with excitement. Starknet’s airdrop is not just a token giveaway; it’s a bold step towards democratizing access to a more scalable, efficient, and participatory blockchain ecosystem. For users of dYdX and other platforms, as well as Ethereum stakers, this event represents a unique opportunity to be part of Starknet’s innovative journey toward reshaping the future of blockchain technology.

PayPal’s PYUSD Enters DeFi Arena with Backed’s Real-World Assets on Morpho Blue

https://blockchainreporter.net/paypals-pyusd-enters-defi-arena-with-backeds-real-world-assets-on-morpho-blue/

In a groundbreaking move, PayPal’s regulated USD stablecoin, PYUSD, has ventured into the decentralized finance (DeFi) sector through an innovative integration with Backed’s tokenized real-world assets (RWAs) on Morpho Blue. This integration marks a significant milestone as PYUSD becomes part of a major lending market for the first time, offering users the opportunity to earn yield on their stablecoin holdings in a unique and secure way.

PYUSD, issued by Paxos specifically for PayPal, is now supported on Morpho’s latest decentralized lending platform, Morpho Blue. Users looking to generate yield on their PYUSD can deposit their stablecoins into a specially curated vault by Steakhouse Financial. This vault leverages the permissioned wrapped version of Backed’s tokenized T-Bill ETF, bIB01, and Lido’s wstETH liquid staking tokens as the primary collateral assets, showcasing a blend of traditional finance and crypto innovations.

Adam Levi, Co-founder of Backed, said, “At Backed, we’re creating the most composable and interoperable tokenized real-world assets. We focus on providing best-in-class reliability for our investors, and are looking forward to seeing bToken’s increased adoption in new lending markets.”

A Milestone for PYUSD and the DeFi Ecosystem

This development enhances PYUSD’s utility within the DeFi ecosystem, cementing its position as a top contender among stablecoins shortly after its launch. PYUSD’s integration with Chainlink Price Feeds for accurate on-chain data further demonstrates the commitment to establish it as a leading stablecoin. Operating under the strict oversight of the New York State Department of Financial Services (NYDFS), PYUSD ensures a regulated and secure option for users in the DeFi space.

Steakhouse Financial, a premier DeFi consultancy, has introduced the “Dual Engine” yield strategy in the PYUSD vault. This innovative approach combines the stability of real-world asset yields with the dynamic potential of crypto yields, aiming to optimize returns across varying market conditions. This method reflects a sophisticated blend of financial strategies, catering to investors seeking diversified yield sources.

Sébastien Derivaux, Co-Founder of Steakhouse Financial, said, “At Steakhouse Financial, we deeply believe in open and transparent finance and we work hard, together with leading projects, to bring about this vision. The Dual Engine strategy marks the beginning of delivering real-world yields and crypto yields to work for non-US investors in all market conditions.”

Backed’s bTokens, representing tokenized real-world assets, are at the heart of this initiative. These tokens are fully backed by the underlying assets and comply with the Swiss DLT Act, ensuring secure and compliant trading on the blockchain. The introduction of bTokens to the blockchain offers stable, market-uncorrelated yields, enhancing the DeFi ecosystem’s appeal by merging traditional financial assets with cutting-edge blockchain technology.

Fostering Innovation through Permissionless Lending

Morpho Blue distinguishes itself by allowing the creation of lending markets with any asset, promoting a permissionless and innovative environment. This openness has facilitated the integration of PYUSD, demonstrating Morpho’s commitment to community-driven growth and protocol adaptability. The integration between PayPal, Backed, and Morpho signals a significant advancement in bridging traditional finance with the decentralized sector.

Paul Frambot, Co-founder and CEO of Morpho Labs, said, “At Morpho we believe protocols should do less to enable more. Morpho Blue is a remarkably simple protocol that facilitates lending of any asset. We are excited to see its permissionless market creation being used to support the adoption of PYUSD.”

Overall, this integration highlights the potential for increased adoption of tokenized assets and the promotion of an open, transparent financial system. As PYUSD steps into the DeFi world with Backed’s real-world assets on Morpho Blue, it sets a precedent for future developments, potentially reshaping how digital and traditional financial assets interact and grow within the global financial ecosystem.

Ankr Enhances dApp Development with Linea Network Integration into RPC Service

https://blockchainreporter.net/ankr-enhances-dapp-development-with-linea-network-integration-into-rpc-service/

In a strategic move that promises to reshape the landscape of Web3 development, Ankr, a leading provider of blockchain infrastructure solutions, has announced a groundbreaking partnership with Linea, a layer 2 solution developed by Consensys. This collaboration will see the integration of the Linea Network into Ankr’s Remote Procedure Call (RPC) service, significantly enhancing the development capabilities for Web3 applications.

Delcan Fox, the Product Lead at Linea, expressed excitement about the partnership, saying, “Our collaboration with Ankr in integrating our zkEVM rollup into their RPC services is a pivotal development. This partnership significantly extends Linea’s reach and usability within the developer community. By leveraging Ankr’s established platform, Linea’s growing ecosystem becomes more accessible to a wider range of developers, facilitating the creation and migration of scalable, efficient dApps on Layer 2.”

Simplifying Blockchain Application Development

The integration of Ankr’s Linea RPCs is set to streamline the connection between wallets, dApps, and the Linea blockchain, simplifying the process of transmitting on-chain data. This innovation eliminates the need for developers to set up and maintain their own Linea nodes, saving them considerable time and effort that can now be redirected towards the development of feature-rich applications.

Furthermore, Ankr’s Premium RPC Plan offers developers instant access to powerful tools designed to enhance the development process. These tools include a high request rate, high request priority, global node locations, telemetry, debug mode, a support portal, and WebSocket (WS) capabilities, all of which are geared towards overcoming the challenges of rapidly building applications on the Linea Network.

The partnership also aims to strengthen the Linea Network by supporting the global ecosystem and simplifying the development processes. By expanding the reach of distributed node infrastructure, Ankr and Linea are facilitating the growth and impact of the network, thereby contributing to the broader blockchain development community.

Stanley Wu, Co-founder and CTO of Ankr, shared the enthusiasm for the joint venture, underlining the mutual goal of creating a secure and scalable blockchain ecosystem that prioritizes the developer experience. Wu added, “Ankr is excited to join forces with Linea to create an extremely secure and scalable blockchain ecosystem that prioritizes the developer experience. Putting builders first with incredibly fast, reliable, and user-friendly infrastructure shows Linea’s dedication to becoming a hub for building some of the most innovative web3 applications.”

Ankr’s commitment to innovation and its dedication to empowering developers are evident in this integration. By simplifying blockchain development and making it more accessible, Ankr is driving forward its mission to revolutionize the blockchain landscape. The company provides a full suite of tools for Web3 app development, offering multi-chain dApp development tools, blockchain engineering services, crypto staking solutions, and a globally distributed node infrastructure.

Linea’s technology, which combines the power of zero-knowledge proofs with full Ethereum Virtual Machine (EVM) equivalence, allows developers to create scalable dApps or migrate existing ones without the need to change code or rewrite smart contracts. This makes Linea an attractive platform for developers seeking to leverage zkEVM capabilities without requiring extensive knowledge in zero-knowledge technology.

As we look ahead, the Ankr and Linea partnership heralds a new era for Web3 development, offering developers an unparalleled platform to innovate and build the decentralized applications of the future. It is set to catalyze the growth of the blockchain development community, fostering innovation and pushing the boundaries of what is possible in the realm of dApps. This is not just a step forward for Ankr and Linea but a giant leap for the blockchain community at large.

Umoja Announces Beta Launch, Offering Simplified Hedging Solutions for Digital Assets

https://blockchainreporter.net/umoja-announces-beta-launch-offering-simplified-hedging-solutions-for-digital-assets/

In a significant leap forward for the digital asset industry, Umoja has unveiled the beta version of its pioneering hedging-as-a-service platform. Aimed at simplifying and automating the hedging process across a broad spectrum of digital assets, Umoja’s launch is set to democratize access to sophisticated risk management tools previously out of reach for the average investor.

Dubbed the first asset risk management tool in the decentralized finance (DeFi) sector, Umoja seeks to empower a diverse array of users—from crypto enthusiasts to professional traders and retail investors—enabling them to protect their trading portfolios akin to the strategies employed by multi-billion dollar hedge funds.

With ambitions to become the “Yearn Finance for Risk,” Umoja aspires to decentralize the hedging of not only cryptocurrencies but also a variety of real-world assets such as fiat currencies, digital bonds, real estate, and commodities, tapping into a market potential estimated at $500 trillion.

Aiming to Democratize Hedging in the Crypto Space

Originally conceived as a microfinance platform targeting emerging markets, Umoja encountered a pivotal challenge within today’s DeFi ecosystem: the volatility of currency values and the risks associated with USD loans. This realization prompted a shift towards addressing the urgent need for accessible hedging solutions within the DeFi space, thus birthing Umoja’s innovative platform.

Robby Greenfield, the founder of Umoja, expressed his enthusiasm for the beta launch, stating, “Umoja’s beta is more than just a new service launch — it’s a significant stride towards a future where crypto investments are safer and more stable. By simplifying and democratizing the hedging process, we’re opening up a world of new opportunities for investors at all levels.”

The introduction of Umoja features the novel concept of CeFi Dynamic Term Loss Coverage for popular crypto assets such as BTC, ETH, and AVAX. This approach allows investors to flexibly hedge against risk while enjoying features like zero-loss staking—a revolutionary option that secures the principal amount against potential losses, thereby attracting a more conservative investor base to the DeFi sector.

By requiring just 10% refundable collateral to initiate coverage, Umoja significantly lowers the barrier to entry for hedging, enabling coverage at up to 80% lower costs and requiring ten-times less capital compared to traditional methods. This democratization of hedging is poised to make sophisticated risk management tools accessible to a broader audience, automating and simplifying the process to accommodate the volatile nature of crypto investments.

“Hedging provides a seatbelt for investors embarking on the roller-coaster ride of DeFi markets. As such, it shouldn’t be a luxury, nor should it be a brain-twister. Umoja is all about providing that safety net for DeFi investors,” Greenfield commented. 

Umoja’s transition from a CeFi to a DeFi platform, planned for the second quarter of the year, underscores its commitment to providing decentralized and accessible risk management solutions. The project, having raised over $2 million in funding, boasts backing from prominent entities such as the Avalanche Foundation, Coinbase Ventures, Orange DAO, Blockchain Founders Fund, GainsVC, and Ivan On Tech.

As a fintech entity, Umoja Labs leverages digital assets to address real-world challenges, including cross-border payments and asset management. Its products have been instrumental in facilitating digital humanitarian aid initiatives in collaboration with organizations such as Oxfam, Care International, and Hope for Haiti, alongside providing affordable lending and asset hedging services for underserved communities.

The beta launch of Umoja not only marks a milestone in making crypto hedging accessible but also represents a significant advancement towards securing and stabilizing crypto investments for a global audience. With its roots in addressing real-world challenges and its eyes set on a future of safer, more stable crypto investments, Umoja is shaping up to be a pivotal player in the evolution of digital finance.

Korean Gaming Powerhouse Com2uS Partners with Oasys to Revolutionize Web3 Gaming

https://blockchainreporter.net/korean-gaming-powerhouse-com2us-partners-with-oasys-to-revolutionize-web3-gaming/

Oasys, a blockchain platform focused on gaming, has announced a collaboration with top Korean game creator Com2uS, the powerhouse responsible for popular titles like ‘Summoners War: Chronicles’ and ‘The Walking Dead: All-Stars,’ along with its Web3 business arm, XPLA. This partnership signifies a major milestone in the developer’s move into the Japanese market.

Dominic Jang, Oasys’ Head of Business Development & Head of Korea, said, “We are thrilled to welcome Com2uS and XPLA expanding into the Oasys ecosystem. The core value of Oasys comes from the vision that Oasys acts as a blockchain that offers the most relevant solutions for game companies as a game-focused blockchain and we are also confident our collaboration will lead to the kind of innovative gaming experiences that players deserve.”

Transforming Web3 Gaming

Com2uS, recognized as the pioneering game studio and publisher to create a mobile game in South Korea, is not only a confirmed validator on the Oasys blockchain but is set to expand its participation by developing its unique ‘Verse.’ The proposed Layer2, provisionally named XPLA Verse, will utilize the cutting-edge infrastructure of Oasys to deliver superior gaming experiences to Web3 gamers, ensuring compliance with the highest standards.

Under the partnership, Com2uS will integrate its flagship intellectual properties, such as ‘Summoners War: Chronicle’ and ‘The Walking Dead: All Stars,’ into the Oasys ecosystem. ‘Summoners War: Chronicles’ offers an action-packed role-playing game experience, whereas ‘The Walking Dead: All Stars’ is a strategy-based RPG inspired by the renowned zombie television series. These games will be available on the XPLA Verse within the Oasys blockchain, broadening their reach to a larger player base.

Paul Kim, Team Lead of XPLA, stated, “By partnering with Oasys, XPLA will make a significant move into the world’s third largest gaming market, Japan. With plans to launch two major Web3 games based on globally recognized IPs within the first half of the year, we intend to capture the 55 million Japanese gamers community.”

Com2uS plans to utilize the distinctive dual-layer structure of the Oasys blockchain, featuring various Verses (Layer2s) and a central Hub-Layer (Layer1). This setup is especially advantageous for the Seoul-based publisher in its efforts to adhere to and meet Japan’s local regulatory standards.

The expertise and experience of the Oasys team in Japan will play a crucial role in helping Com2uS adhere to regulations and grow its presence and user community in the country. Oasys and XPLA previously joined forces for the Beyond Boundaries hackathon in Seoul in 2023, aiming to address intricate issues in Web3 and enhance the gaming experience overall.

XPLA, built on the Tendermint protocol, operates as a Layer 1 blockchain and acts as a central platform for digital media content. Embracing the concept of ‘Explore and Play,’ XPLA supports an extensive variety of digital content, underpinned by a leading blockchain gaming infrastructure within a self-sustaining ecosystem. As a hub for universal content, XPLA delivers an exceptional creative experience through its vast gaming infrastructure, catering to creators and users alike.

Bitcoin Leads the Charge as Digital Investments Hit $59 Billion, Highest Since 2022

https://blockchainreporter.net/bitcoin-leads-the-charge-as-digital-investments-hit-59-billion-highest-since-2022/

In an unprecedented rally reminiscent of the digital asset boom of previous years, digital investments have reached a new pinnacle with total assets under management (AuM) soaring to $59 billion, the highest figure recorded since early 2022. This resurgence is largely attributed to the significant inflows into digital asset investment products, which have seen a cumulative addition of $1.1 billion recently, bringing the year-to-date inflows to a robust $2.7 billion.

The latest report from CoinShares, a leading digital asset investment firm, highlights the renewed vigor within the cryptocurrency market, with Bitcoin at the forefront of this remarkable growth. The report underscores the pivotal role of the newly issued spot-based Bitcoin Exchange-Traded Funds (ETFs) in the United States, which have captivated investors’ attention and capital.

Since their launch on January 11, these ETFs have amassed an impressive $1.1 billion in net inflows in just the past week, culminating in total inflows of $2.8 billion. Despite the enthusiastic reception of Bitcoin ETFs in the U.S., the situation has been mixed in other regions. Canada and Germany experienced minor outflows, totaling $17 million and $10 million, respectively. Conversely, Switzerland has emerged as a beacon of positive momentum, with inflows reaching $35 million last week alone.

Bitcoin has dominated the inflow charts, accounting for nearly 98% of the total, further buoyed by price appreciations that have also lifted the spirits of Ethereum and Cardano investors. These latter assets witnessed inflows of $16 million and $6 million, respectively. Meanwhile, smaller cryptocurrencies like Avalanche, Polygon, and Tron saw modest inflows.

However, not all segments of the digital asset sphere have enjoyed positive trends. Blockchain equities experienced outflows, notably from one issuer to the tune of $67 million, although this was partially offset by inflows totaling $19 million from other issuers. The CoinShares report also pointed to potential market risks, such as the possible sale of Genesis holdings worth $1.6 billion, which could trigger further outflows in the months ahead.

Bitcoin’s Bullish Divergence

On the market front, Bitcoin has once again demonstrated its resilience and potential for substantial growth. The digital currency witnessed a notable surge in its price, illustrating the dynamic and volatile nature of the cryptocurrency market. This recent upward trajectory has captivated investors and traders alike, as Bitcoin breached significant resistance levels to achieve a new multi-week high.

The rally commenced with Bitcoin’s price ascending beyond the $45,500 mark, a critical resistance zone that had previously capped its upward movement. This breakthrough was a significant indicator of the bullish momentum building within the market. Following this initial success, Bitcoin confidently navigated through additional hurdles near the $46,000 and $47,200 levels. Each of these milestones represented a test of the cryptocurrency’s strength and the market’s willingness to support higher valuations.

As the bullish sentiment intensified, Bitcoin’s price managed to surpass the $48,000 resistance level, showcasing the sustained buying pressure and investor confidence. This momentum propelled the cryptocurrency to test the $48,800 zone, eventually peaking at a new multi-week high near $48,775. This peak not only symbolizes a significant achievement for Bitcoin but also serves as a testament to the robust interest and optimism circulating within the digital asset community.

Following its remarkable ascent, Bitcoin has entered a phase of consolidation, where it is currently stabilizing its gains. Currently, the price of Bitcoin stands at $47,954, experiencing a slight decrease of 0.39% over the past 24 hours, yet it has seen a significant increase of 10.38% in the last 7 days. This period of consolidation is crucial for establishing a solid foundation for potential future advances, allowing the market to absorb the recent gains and prepare for the next wave of buying activity.

The recent resurgence in digital asset investments and Bitcoin’s price signals a revitalized interest and confidence in the cryptocurrency market, marking a significant turn from the cautious stance observed over the previous years. With Bitcoin leading the charge, the digital asset sector is poised for potentially more groundbreaking developments as it continues to navigate the complexities and volatilities of the global financial landscape.

Ethereum Trader Turns 1 ETH into $59K Using ERC-404 Token

https://blockchainreporter.net/ethereum-trader-turns-1-eth-into-59k-using-erc-404-token/

In an extraordinary demonstration of cryptocurrency trading strategy and market insight, an *ETH* trader recently catapulted to financial success by transforming a mere 1 ETH ($2,507) into a staggering $59,000 within just 11 hours. This remarkable feat was accomplished through the adept trading of a relatively new type of digital asset, the ERC-404 token, specifically a token known as MINER.

The event, meticulously chronicled by Lookonchain, a respected blockchain analytics firm, underscores the high-risk, high-reward nature of the cryptocurrency markets and highlights the innovative strategies traders are employing to reap significant profits. The journey to this substantial windfall began when the trader withdrew 1 ETH from the cryptocurrency exchange Binance.

Opting to invest in the ERC-404 token MINER, the Ethereum trader executed a purchase of 1073 MINER tokens. This transaction was notable not only for the number of tokens acquired but also for the substantial gas fees incurred – 0.802 ETH ($2,010), a bold gamble indicating the trader’s confidence in the potential upside of their investment. The strategy paid off handsomely when the trader later sold 722 of the MINER tokens for 19.11 ETH, notwithstanding another hefty gas fee of 0.5 ETH ($1,244).

As of the latest updates, the trader still holds 350 MINER tokens, now valued at approximately $15,000. This trading portfolio, combined with the earlier transaction gains, culminates in a total profit of around $59,000. The success story of the Ethereum trader vividly illustrates the volatile yet potentially lucrative nature of trading within the ERC-404 token sector.

State of the ERC-404 Token Market

This incident is not an isolated example of the profit opportunities present within the ERC-404 market. Another Ethereum trader previously capitalized on the rapid appreciation of the DeFrogs token, another ERC-404 asset, turning an initial investment of 0.258 ETH ($613) into over $166,000 in just two days. These transactions showcase the dynamic environment of crypto trading, where significant gains can be achieved through strategic investments and timing.

However, the ERC-404 token market has recently faced significant volatility, with the market capitalization for ERC-404 tokens reported by CoinGecko to have plummeted by 31.1% to $168 million in the last 24 hours alone. This decline underscores the precarious nature of the cryptocurrency market, where asset values can fluctuate wildly based on market dynamics, investor sentiment, and broader economic factors.

The ERC-404 standard itself represents an innovative blend of the well-known ERC-20 and ERC-721 standards, allowing for the creation of tokens that possess both fungibility and uniqueness. This hybrid model offers investors not just a stake in the digital asset but also a unique non-fungible token (NFT), potentially adding a layer of value through rarity or specific desirable attributes associated with the NFT.

The remarkable success stories within the ERC-404 token market illuminate the evolving landscape of crypto trading, where informed, strategic, and sometimes daring moves can lead to significant financial rewards. However, they also serve as a cautionary tale of the risks involved in navigating this highly speculative and volatile market. Investors and traders are reminded to approach such opportunities with thorough research, a well-considered strategy, and an awareness of the potential for loss as well as gain.

Victoria VR’s Price Soars 58% Amid CQB Arena Debut and Apple Vision Pro App Announcement

https://blockchainreporter.net/victoria-vrs-price-soars-58-amid-cqb-arena-debut-and-apple-vision-pro-app-announcement/

In a significant turn of events for the cryptocurrency market and Web3 industry, Victoria VR (VR), a leading virtual reality developer, has seen the price of its VR token soar by an impressive 58.21% in the last 24 hours, now valued at $0.05342. This surge has catapulted the 24-hour market capitalization of the VR token by 359.04%, positioning it at $9,855,406.

The overall market cap has also seen a notable increase of 58.04%, now standing at $149,752,958, making Victoria VR the 279th largest cryptocurrency by market cap. This remarkable price increase follows the announcement of the CQB Arena, a cutting-edge multi-level gun battle simulation and training arena designed for virtual reality.

CQB Arena, now available on App Lab and SideQuest, offers players an immersive close-quarters battle experience. Drawing inspiration from real-life CQB scenarios, the game challenges players to clear buildings, eliminate threats, and rescue hostages, with each level presenting unique challenges to test their skills. The game boasts a wide range of weaponry, including rifles with multiple modifications, allowing for a highly customizable combat experience.

Making Significant Strides in Web3

Adding to the excitement, Victoria VR recently revealed plans to launch the first-ever Metaverse application on the Apple Vision Pro. Apple, which unveiled the Apple Vision Pro on February 2nd, will see the Victoria VR app go live in the second quarter of 2024. Victoria VR’s Metaverse, built on Unreal Engine, promises an unparalleled virtual reality experience where users can trade and own virtual lands as NFTs, setting a new standard for immersive and interactive virtual environments.

The upcoming Web3 application on Apple Vision Pro is set to transport users to a virtual world inspired by the five elements of nature, offering a rich tapestry of entertainment, exploration, and educational opportunities within the Metaverse. The in-app economy is powered by the VR token, which not only facilitates transactions within the digital universe but also rewards users for contributions that enhance the virtual ecosystem.

The VR token, launched via KuCoin’s platform, witnessed one of the most successful debuts in the platform’s history. On its first trading day, the token’s volume exceeded $100M, with its value increasing by 212 times within the first month. As the primary currency within the Victoria VR universe, the VR token enables the purchase of items, resources, skins, wearables, and lands. Additionally, 50% of revenue from in-game asset sales is reinvested into a rewards pool, benefiting stakers and active participants in the Metaverse.

Victoria VR’s recent developments represent a significant milestone in the evolution of virtual reality and blockchain technology, merging immersive gaming experiences with the burgeoning world of digital assets and cryptocurrencies. As Victoria VR continues to innovate and expand its offerings, the VR token’s value and the company’s market position are likely to see further growth, reshaping the landscape of the virtual reality and cryptocurrency markets.

Crypto.com Introduces Prime Campaign with 1% Deposit Bonus for Elite Investors

https://blockchainreporter.net/crypto-com-introduces-prime-campaign-with-1-deposit-bonus-for-elite-investors/

Crypto.com has recently launched its Prime campaign, a new initiative aimed at attracting high net worth individuals by offering an uncapped 1% bonus on all eligible deposits. This move is set to redefine the trading experience for affluent investors, providing them with a suite of unparalleled benefits and privileges across the Crypto.com App.

The announcement came alongside the unveiling of Crypto.com Prime, a program designed to grant its members near-zero trading fees, institutional-grade trading, deep liquidity, and a range of other exclusive services. The Prime campaign notably includes $1 million account protection, unlimited fiat transfers, bespoke inheritance and tax services, a dedicated relationship manager, and the Crypto.com Prime card among its benefits.

Offering Unprecedented Benefits

The Prime offering is currently invite-only and requires a minimum deposit of $1 million, underscoring its targeted appeal to a select group of high net worth traders. To participate in the campaign, which runs from February 8, 2024, until April 7, 2024, eligible users must activate their Prime membership within the Crypto.com App.

Upon depositing eligible tokens or fiat currency during the campaign period, members will receive a 1% bonus on these deposits, paid in CRO, Crypto.com’s native cryptocurrency. This offer is particularly enticing as it applies an uncapped bonus, allowing for significant rewards based on the amount deposited.

An example provided illustrates the potential benefits for members. A user, referred to as Sylvia, with an existing account holding of $250,000, deposits an additional $900,000 in eligible tokens and fiat. As a result, she earns a bonus of $9,000 in CRO, showcasing the lucrative nature of this campaign for substantial deposits.

The campaign is open to Crypto.com App users who have completed the necessary identification and onboarding processes by the end of the campaign period. Eligible tokens for the deposit include major cryptocurrencies such as BTC, ETH, CRO, USDT, USDC, and several others, along with eligible fiat currencies like USD and EUR.

The deposit bonus offered to participants will be locked up in their Crypto.com App account for 24 months following the campaign’s conclusion. The actual amount of the bonus will be adjusted pro-rata based on the recipient’s assets under management (AUM) during this lockup period. Crypto.com’s launch of the Prime campaign reflects the platform’s strategic initiative to cater to the needs of high net worth individuals in the cryptocurrency market.

By offering tailored services and significant incentives, Crypto.com aims to attract a more affluent clientele, thereby enhancing its position as a leading cryptocurrency trading platform. This campaign is a testament to Crypto.com’s commitment to providing a superior trading experience and fostering a more inclusive and versatile trading environment for investors of all levels.