Manchester, UK, June 30th, 2023, Chainwire
Manchester City and OKX, one of the leading crypto exchanges by trading volume and a leading Web3 technology company, today announced OKX as the Club’s Official Sleeve Partner in a new multi-year agreement.
As part of the expanded deal, the OKX brand will feature on the left sleeve of both the men’s and women’s first team playing kits and will retain its position on the left sleeve of the first team training kits, in addition to appearing across further digital and physical club assets.
OKX’s partnership with Manchester City began in March 2022, first expanding in July 2022 to become the Club’s Official Training Kit Partner for the 2022/23 season. To date, the partnership has helped introduce the brand to millions of football fans around the world through innovative Web3 experiences like the OKX Collective, through which fans can get up-close-and-personal with Manchester City players and OKX Ambassadors such as Jack Grealish and Alex Greenwood.
The partnership expansion was unveiled at an exclusive reveal at the Etihad Stadium featuring City Football Group Chief Executive Officer Ferran Soriano and OKX Global Chief Marketing Officer Haider Rafique. As part of the event, the sleeve was unveiled in a ‘virtual reveal’ with a hero video featuring player avatars. Manchester City legend Gaël Clichy was also in attendance for a media Q&A.
In a session moderated by Manchester City presenter Natalie Pike, Rafique and Soriano spoke about OKX’s vision of reaching City fans around the world through the partnership. They also discussed the role Web3 technology can play in fan engagement, especially when it comes to designing engaging, immersive experiences for fans.
Ferran Soriano, Chief Executive Officer at City Football Group, said: “We are very proud to have OKX represented on the sleeve of the Manchester City shirt. Both OKX and Manchester City are leading companies driven by a passion for innovation. We have already seen great Web3 experiences designed by OKX for Manchester City’s global fan base and there will be many more to come. This is a very exciting partnership.”
Haider Rafique, CMO at OKX, said: “The journey with the Man City team has been incredible. Manchester City was our first official global brand partnership and in just a year and a half we have come a long way. We always intended to integrate with the sport and help the Club lead on leaning into Web3. Fast forward fifteen months, we now have a metaverse, an NFT initiative and a number of other new projects that we are excited about.
The sleeve partnership brings us closer to City fans across the globe, and we look forward to collaborating to create unique, exciting and innovative engagements through Web3 technology. As the Club’s Official Cryptocurrency Exchange Partner, fans can expect amazing things every time they interact with OKX.”
About OKX
OKX is a world-leading technology company building the future of trading and Web3. Its leading self-custody solutions include the Web3-compatible OKX Wallet, which allows users greater control of their assets while expanding access to DEXs, NFT marketplaces, DeFi, GameFi and thousands of dApps.
OKX partners with a number of the world’s top brands and athletes, including: English Premier League champions Manchester City F.C., McLaren Formula 1, The Tribeca Festival, Olympian Scotty James, and F1 driver Daniel Ricciardo.
OKX is committed to transparency and security and publishes its Proof of Reserves on a monthly basis.
To learn more about OKX, download our app or visit: okx.com
About Manchester City Football Club
Manchester City FC is an English Premier League club initially founded in 1880 as St Mark’s West Gorton. It officially became Manchester City FC in 1894 and has since then gone onto win the UEFA Champions League, European Cup Winners’ Cup, nine League Championship titles, seven FA Cups and eight League Cups. Manchester City FC is one of 13 clubs comprising the City Football Group.
Under manager Pep Guardiola, one of the most highly-decorated managers in world football, the Club plays its domestic and UEFA Champions League home fixtures at the Etihad Stadium, a spectacular 53,500 seat arena that City has called home since 2003. Today, the stadium sits on the wider Etihad Campus, which also encompasses the City Football Academy, a state-of-the-art performance training and youth development facility located in the heart of East Manchester. Featuring a 7,000-capacity Academy Stadium, the City Football Academy is also where Manchester City Women’s Football Club and the Elite Development Squad train on a daily basis and play their competitive home games.
Disclaimer
OKX IS NOT REGULATED BY THE FCA, THUS, PROTECTIONS SUCH AS THE FINANCIAL OMBUDSMAN SERVICE OR FINANCIAL SERVICES COMPENSATION SCHEME WILL NOT BE AVAILABLE. YOU SHOULD CONSIDER WHETHER YOU UNDERSTAND HOW CRYPTO WORKS AS THE VALUE OF YOUR ASSETS, INCLUDING STABLECOINS, CAN INCREASE OR DECREASE AND PROFITS MAY BE SUBJECT TO CAPITAL GAINS TAX. PAST PERFORMANCE DOES NOT INDICATE FUTURE RESULTS.
Contact
Media
media@okx.com
0788118718
Hong Kong, China, June 28th, 2023, Chainwire
DWF Labs, the global digital asset market maker, and multi-stage Web3 investment firm, has further strengthened its commitment to support the growth of Conflux, the tree-graph consensus algorithm Layer-1 blockchain. Conflux has been gaining significant traction since February 2023 on the back of some key partnerships, including the signature collaboration with China Telecom announced on February 15th, with the goal of developing a blockchain SIM (BSIM) card that was first unveiled in May.
DWF Labs recently purchased $18M in CFX token, cementing the long-term relationship between the investment firm and Conflux. This follows DFW Labs buying $10M worth of CFX tokens in March 2023.
More recently, Conflux joined Hong Kong’s Web3 Institute, participated in the Singapore Digital Economy Roundtable organized by the Singaporean Government, and led the drafting of IEEE P3217, an international blockchain standard by the Institute of Electrical and Electronics Engineers. In addition, Conflux announced key partnerships including:
- Supremacy – Web3 security platform
- dappOS – an operating protocol that manages crypto infrastructures for users
- NuLink – a privacy-preserving technology that provides APIs for decentralized applications
- Smooth Labs – developing the Layer 2 solution that supports parallel execution
- Opside – a decentralized ZK-RaaS network featuring PoW of ZKP mining
DWF Labs has made significant contributions to placing Conflux on the global stage. Since then, Conflux has established ecosystem partnerships with Floki, Worldcoin, Blockbank, Luganodes, AirDAO, Mask, and OpenEden, with a growing list of ongoing partnerships being discussed. Conflux and DWF Labs have also co-hosted multiple events, including those organized in Hong Kong, Tokyo, and Paris.
Fan Long, Conflux Network’s Co-Founder, stated: “Conflux Network has experienced exponential growth since the start of 2023, pioneering advances in the Chinese NFT market and establishing fresh Web3 access through the BSIM card project with China Telecom. DWF Lab is one of the key supporters of Conflux. This infusion of capital not only strengthens our bond, but also acts as a catalyst for our shared ambition to expand the Conflux ecosystem. Conflux plans to leverage the raised funds to further fuel its ecosystem growth in Asia and Hong Kong, empower burgeoning developer communities, and bring an increasing number of real-world assets onto the Conflux chain.”
The Managing Partner of DWF Labs, Andrei Grachev stated: “We take great pride in our role as supporters of Conflux throughout its remarkable growth trajectory. It exemplifies our commitment to backing projects with immense potential and providing the necessary support to fill in the missing pieces of the Web3 puzzle. Our deep understanding of the crypto market has served as a compass for Conflux, allowing it to fully express its potential on the global stage. We are delighted to have played a part in Conflux’s journey towards success.”
About Conflux
Conflux is a permissionless Layer 1 blockchain connecting decentralized economies across borders and protocols.
Recently migrated to hybrid PoW/PoS consensus, Conflux provides a fast, secure, and scalable blockchain environment with zero congestion, low fees, and improved network security.
As the only regulatory-compliant public blockchain in China, Conflux provides a unique advantage for projects building and expanding into Asia. Conflux has collaborated with global brands and government entities in the region on blockchain and metaverse initiatives, including the city of Shanghai, McDonald’s China, and Oreo.
About DWF Labs
DWF Labs is the global digital asset market maker and multi-stage Web3 investment firm, supporting portfolio companies from token listing to market making to OTC trading solutions.
With offices in Singapore, Switzerland, the UAE, Hong Kong, South Korea and BVI, the investment company DWF Labs is an affiliate of Digital Wave Finance (DWF), which consistently ranks among the top 5 trading entities by volume in the cryptocurrency world through its proprietary technology for high-frequency trading.
Contact
Melissa Tirey
conflux@shift6studios.com
Dubai, UAE, June 27th, 2023, Chainwire
OKX, the second-largest crypto exchange by trading volume and a leading Web3 technology company, today launched its new ‘Nitro Spreads’ feature on its institutional Liquid Marketplace, an OTC, futures spreads and options liquidity network, allowing traders to make complex basis trades with simple one-click execution.
Basis trading is a strategy built around trading the difference between an asset’s price on two separate markets, such as spot vs. futures, and can generate returns when executed properly. It typically requires both legs of the trade to be managed simultaneously, which can be cumbersome. OKX’s Nitro Spreads automates this complex trade into one click, leveraging the platform’s superior liquidity and low latency for maximum user benefit.
Nitro Spreads is also one of the only basis trading tools in the crypto market in which the two legs of the trade are executed via a central orderbook, eliminating leg risk between markets. Before execution, traders can also select a guaranteed spread for a trade, mitigating unexpected price slippage. Trades are then matched and settled immediately.
OKX Global Chief Commercial Officer Lennix Lai said: “In the current complex market environment, institutions demand reliability, predictable returns and genuine innovation when choosing a trading venue. This is especially true in basis trading, where precision is paramount. Nitro Spreads raises the bar for the industry for efficient basis trading, and we invite institutional traders everywhere to see how it can enhance their strategies and contribute to their success.”
A variety of basis trading strategies can be executed by institutional traders through Nitro Spreads’ easy-to-use interface. Institutional traders can employ popular delta one spread strategies like calendar spreads, future rolls and funding rate farming – all in an orderbook format.
The on-demand OKX Liquid Marketplace provides access to deep institutional liquidity and a number of crypto trading strategies, including futures spreads, large options block trades or spot OTC, to run at scale. In April, OKX announced that the Liquid Marketplace exceeded USD1 billion in trading volume during the first three months of 2023.
About OKX
OKX is the second-largest global crypto exchange by trading volume and a leading Web3 ecosystem. Trusted by more than 50 million global users, OKX is known for being the fastest and most reliable crypto trading app for traders everywhere.
As a top partner of English Premier League champions Manchester City FC, McLaren Formula 1, Olympian Scotty James and F1 driver Daniel Ricciardo, OKX aims to supercharge the fan experience with new engagement opportunities. OKX is also the top partner of the Tribeca Festival as part of an initiative to bring more creators into web3.
Beyond OKX’s exchange, the OKX Wallet is the platform’s latest offering for people looking to explore the world of NFTs and the metaverse while trading GameFi and DeFi tokens.
OKX is committed to transparency and security and publishes its Proof of Reserves on a monthly basis.
To learn more about OKX, download our app or visit: okx.com
Contact
Press
media@okx.com
Istanbul, Turkey, June 26th, 2023, Chainwire
Metatime, the blockchain project building a complete Web3 ecosystem that promises users full control over their finances, identity and assets, has announced its native ecosystem token Metatime Coin ($MTC) will be listed for sale on the leading cryptocurrency exchange, Bybit. Alongside the listing, Metatime is pleased to announce that its smart contract infrastructure code has been fully audited by the independent auditing firm Hacken, completing the process with full marks.
The $MTC token, which currently has exactly 415,439 registered users, will go live on Bybit on Monday, June 26 at 10.00 UTC, at which time it will be available for anyone to buy, sell or trade. Investors who bought early during the presale will now be able to sell their $MTC, while those who missed out on early access will now be able to participate in Metatime’s growing Web3 ecosystem.
Earlier this year, Metatime witnessed enormous demand for its token, raising a total of $38 million via two pre-sales of the $MTC token on the world’s biggest crypto launchpad platforms, helping to fund its goal of onboarding millions of new users to Web3. All told, Metatime sold 100 million $MTC at 5 cents, 100 million $MTC at 6 cents, 100 million $MTC at 7 cents and then 200 million $MTC at 10 cents.
The $MTC token is currently deployed on BNB Chain but will migrate to Metatime’s own blockchain with the launch of the MetaChain mainnet on Nov. 11, 2023. For all $MTC investors, relevant information and technical assistance is available through Metatime’s support team.
The official listing of $MTC on Bybit follows the completion of a full audit of Metatime’s smart contract code by the respected independent auditor and testing firm Hacken. The report by Hacken highlighted the “exceptional performance of Metatime’s documentation, code quality, test coverage and security measures”. Metatime achieved a perfect score of 10/10 in the documentation quality category, providing comprehensive functional requirements and detailed technical descriptions. It also achieved a perfect code quality score and, furthermore, demonstrated exceptional test coverage during thorough testing of deployment, basic user interaction and system features.
Metatime’s Web3 ecosystem of products include a comprehensive blockchain network and cryptocurrency exchange, plus NFT marketplace, crypto launchpad, blockchain explorer, wallet and stablecoin. The MetaChain is powered by the Proof-of-Meta consensus mechanism which enables all users to participate in network verification and $MTC mining. Metatime’s upcoming MetaExchange will set a precedent in the industry by not assessing commissions for all trades that close at a loss, while its copytrade features will enable novices to emulate expert traders.
About Metatime
Metatime has emerged as a visionary ecosystem that builds the world of the future, designed from the start to be beneficial to everyone. By completely self-funding its technology development stages, Metatime aims to establish the world’s most comprehensive and transparent ecosystem. Through the development of blockchain-based digital products, Metatime is actively shaping the future today. Metatime continues to innovate and develop a wide range of products such as MetaChain, MetaWallet, Metatime Coin, MetaExchange, and MetaNFT, placing user needs at the forefront and designing from the ground up. By envisioning a future where blockchain becomes accessible to everyone, Metatime leads the way in spearheading the Web 3.0 transformation.
Website | Twitter | Instagram | Linkedin | Discord
Contact
Co-Founder & CEO
Yusuf Sevim
TheNewStandard@Metatime.com
Estonia, Tallinn, June 26th, 2023, Chainwire
Soil, the innovative blockchain-based lending protocol, announces that it has received confirmation from the local financial markets regulator that the planned operations on the Soil Platform are compliant with the jurisdiction’s regulations. This confirmation is a significant milestone for Soil, as it confirms the validity of its business model assumptions.
Soil is building a self-balancing DeFi protocol that will bridge the gap between borrowers (traditional businesses / private debt founds) and lenders (stablecoin holders). Soil will facilitate a debt marketplace where established companies in various industries can raise funds by applying for loans from stablecoin holders.
“We hired several teams of lawyers from different countries and waited for long weeks to receive official confirmation from the local regulator that the activities planned on our Soil Platform are legal”, said Jakub Bojan, CEO of Soil. “Despite this great success, we continue to work and do our best to ensure that our project is at the forefront of the cryptocurrency market and is transparent and safe for our partners and investors around the world.”
Prioritising the need for security on the platform, Soil is not only adapting to current regulations but also to the upcoming revolutionary changes for the cryptocurrency world, namely the EU MICA regulation.
With an innovative business model and solid legal support, Soil is well-positioned to launch an innovative lending system. Soil’s actions will undoubtedly inspire confidence among the investment community and potential partners in the DeFi ecosystem.
About Soil
Soil is a blockchain-based lending protocol that bridges the gap between traditional finance and the crypto world, reshaping corporate debt and fixed-income investments. It is a debt marketplace where established companies can obtain financing, and crypto investors can lend their stablecoins to earn yield derived from Real World Assets that exist off-chain. Soil revenue model profits from fees earned by connecting lenders and borrowers and arbitrage on the cost of capital.
Contact
Jakub
contact@soil.co
Dubai, Dubai, June 26th, 2023, Chainwire
DWF Labs, the global multi-stage Web3 investment firm, has announced a partnership with Algorand Foundation to support the health and growth of the ecosystem built on the Algorand blockchain.
The first component of the partnership involves a $50 million ALGO token purchase agreement to, in part, provide liquidity into the Algorand ecosystem.
An additional MOU has been signed with the aim of allocating funds to support projects that are building on the Algorand blockchain in the spaces of DeFi, Art and Music, Gaming, Oracles and Bridges, and Infrastructure. Projects interested in submitting their pitch can get in contact with DWF Ventures by visiting: http://www.dwf-labs.com/algorand.
Andrei Grachev, Managing Partner of DWF Labs, shared his enthusiasm for this partnership and its potential for revolutionising blockchain innovation, as well as DWF Labs’ commitment to actively participate in the building of the Algorand ecosystem.
“We selected Algorand because of its unparalleled level of technology and security among permissionless DLTs, as well as its leadership in environmental sustainability and social impact. Algorand’s blockchain infrastructure provides the speed and instant finality required for creators, financial institutions and governments to smoothly transition to the new digital economy at scale, in an environmentally responsible manner. This partnership with the Algorand Foundation is another important step in the maturation and growth of innovation in this space,” said Grachev.
About the Algorand Foundation
The Algorand Foundation empowers a dynamic, inclusive, and borderless global ecosystem – at scale – based on the Algorand blockchain technology. Designed by MIT professor and Turing Award winning cryptographer Silvio Micali, Algorand is uniquely capable of delivering on the promise of a borderless global economy. It achieves transaction throughputs at the speed of traditional finance, but with immediate finality, near zero transaction costs, and on a 24/7 basis. Its carbon-neutral platform and unique pure proof-of-stake consensus mechanism achieves both security and scalability on a decentralized protocol, and without a second of downtime since it went live in 2019.
About DWF Labs
DWF Labs is a global digital asset market maker and multi-stage web3 investment firm, providing support from token listing to market making to OTC trading solutions. DWF Labs seeks to invest and support bold founders who want to build the future of Web3.
Contact
Managing Partner DWF Labs
Andrei Grachev
ag@dwf-labs.com
Mooky.io, the adorable and trendsetting meme token of 2023, is making waves in the crypto world with its unique focus on environmental sustainability and community governance. With a commitment to global tree-planting initiatives and inspiring positive change, Mooky.io is revolutionizing the way cryptocurrencies contribute to our planet.
Time is Running Out! Don’t Miss Your Last Chance to Join Mooky Presale – Over $800k Raised!
Mooky.io is excited to announce the final opportunity for investors to participate in its highly anticipated presale. The presale round has already raised over $800k, showcasing the immense interest and confidence in the Mooky.io project.
Investors who don’t want to miss out on this exciting opportunity should act quickly to secure their spot in the presale before it concludes.
Addressing the Big Eyes Rug Pull Incident: A Commitment to Transparency and Investor Protection
It is vital to address the recent rug pull incident involving the project Big Eyes. Big Eyes raised over $40M in funds and added $150k to its liquidity. Unfortunately, they experienced a significant drop of 97%, leading to concerns about a rug pull. The project has reportedly scammed around 30k investors, causing distress within the crypto community.
Mooky.io acknowledges the impact of such incidents on investor trust and emphasizes its unwavering dedication to transparency, investor protection, and fair practices. Unlike the rug pull incident, Mooky.io is committed to building a trusted and secure platform for its investors. The team behind Mooky.io has taken extensive measures to ensure the highest level of security and transparency. All funds raised during the presale will be used to develop the platform and support the mission of global tree-planting initiatives.
Mooky.io: A Helping Hand for Investors Affected by Scams
Mooky.io understands the unfortunate circumstances faced by investors who have fallen victim to scams. With a genuine desire to assist those who have lost funds, Mooky.io is actively reaching out to affected individuals and providing support. The team is dedicated to helping outside investors recover from their losses and regain trust.
Join the Mooky.io Community and Be Part of the change!
Investors and crypto enthusiasts are invited to join the vibrant Mooky.io community and participate in shaping the future of this groundbreaking project. By prioritizing environmental impact, community governance, and investor protection, Mooky.io aims to restore faith in the crypto space and create a platform that stands out from the rest.
To learn more about Mooky.io and to participate in the presale, visit their official website at www.mooky.io. Engage with the Mooky.io community on social media channels to stay up to date with the latest news and developments.
About Mooky.io
Mooky.io is the cutest and coolest meme token of 2023, pioneering a new wave of environmentally conscious and community-governed cryptocurrencies. With a focus on global tree-planting initiatives and decentralized decision-making, Mooky.io aims to inspire change and create a positive impact in the crypto space.
Tortola, British Virgin Islands, June 21st, 2023, Chainwire
Struct Finance, a DeFi platform that enables investors to engage with tailored structured financial products linked to digital assets, today announced the mainnet launch of its innovative Interest Rate Vaults and unique tranching mechanism. Amid the highly volatile crypto industry, users can now invest in products tailored to their risk-return preferences, providing predictable and diversified returns.
Structured financial products are innovative investment instruments that are derived from and linked to underlying on-chain or real-world assets. They utilize a variety of credit/risk, liquidity, and maturity transformation techniques to achieve specific investment objectives. Offering risk-return dynamics that deviate from the underlying assets, these investment products appeal to a broad array of investors. On Struct Finance, different tokens, tokenized derivatives, vaults, pools, and protocols interface in a permissionless manner to craft new products, tailored according to the investor’s risk appetite.
“Traditional financial products aren’t permissionless to use or create. In fact, they are largely inaccessible to most people. We are making these structured financial products accessible and easy to understand for everyone. Our mission at Struct is to bring the power of such products to investors with all risk appetites, from the risk-averse newcomer to the seasoned crypto native. That’s why we are launching Interest Rate Vaults as the first in our line-up of tailored financial products,” said Miguel Depaz, one of the Co-founders of Struct Finance.
The new Interest Rate Products allow anyone to split and repackage the risk of any yield-bearing DeFi assets in different parts to fit their risk profile through an innovative process called “tranching.” Every Interest Rate Product is a single vault split into two portions, or tranches that have different return configurations:
- A Fixed-return Tranche for conservative investors looking for consistent returns
- A Variable-return Tranche for investors with a higher risk appetite seeking superior returns
The yield from the underlying asset flows into the fixed tranche first to ensure predictable returns. The remainder is then allocated to the variable tranche, which gets enhanced exposure to the underlying yield-bearing asset. Compared to the fixed tranche, the variable tranche might accrue more yield, less yield, or no yield. Interest Rate Products allow conservative investors looking for fixed yield to get protection from risk-on investors looking for higher yield.
The unique ‘tranching’ system allows users to select from Fixed or Variable Tranches according to their risk appetite. Tranching essentially enables institutional liquidity and crypto degens to provide liquidity for each other. For secure operations, Struct has set an initial limit per tranche, with a commitment to gradually raising these caps over time.
Struct Finance will also launch the Struct Factory – a capability not offered by any of its competitors – to let investors craft their own structured financial products on-chain according to their unique needs. Notably, these custom products will not only serve the creators but will also be available for others to utilize, fostering a more inclusive and adaptable financial environment. This innovative feature will allow you to design your own Interest Rate Product using assets like USDC, BTC.b, AVAX, or WETH. Struct Finance provides backtesting support to assist you during the product creation process.
The lack of fixed-yield returns in crypto has been a deterrent to entry of both larger institutions and smaller players with more conservative risk appetites. Considering the Struct Factory allows permissionless tranching of liquidity pools, fixed rate returns may become commonplace enough to tame the wild and volatile returns of Web3. Once unlocked, fixed rate returns have the power to pave the way for institutional liquidity to safely step into the DeFi without compromising the core tenets of decentralization.
Struct Finance is integrating with GMX and leveraging GMX’s Liquidity Provider Token (GLP) to generate predictable yields in the form of Fixed and Variable Returns for its users. GMX is a pioneering decentralized exchange known for its innovative features and capabilities, including the GLP token. This token represents a significant breakthrough in the industry and is currently a central part of GMX’s trading system.
By utilizing GLP, Struct Finance provides users with a fixed and variable yield while simultaneously offering liquidity to GMX through the GLP token. This integration enables Struct Finance to optimize returns for its users while supporting the liquidity needs of the GMX platform.
About Struct Finance
Struct Finance is at the forefront of the DeFi revolution, with a vision to transform the design and utility of financial products. It empowers users to design their own financial instruments, harnessing the power of tokenized, yield-bearing positions to unlock a world of diverse investment opportunities. Moreover, its cutting-edge financial products adopt a tranche-based system, smartly distributing yield between different investor classes. This balanced approach guarantees a steady yield for risk-averse investors while also offering the prospect of heightened returns to the more adventurous. Initially available on Avalanche, Struct Finance plans to go multichain in the near future.
For more information, visit: Website | Twitter | Discord | Telegram
Contact
Miguel Depaz
media@struct.fi
Last week, the UK government announced the delay in implementing rules banning multi-buy deals on foods and drinks high in fat, salt, or sugar – including buy one, get one free (BOGOF) deals. The rules, set to come into effect this October, have been pushed to October 2025 to allow for public participation and to “allow the government to continue to review the impact of the restrictions on the consumers and businesses”, the press statement reads.
Since being tabled in the House, the rule has raised a lot of debate amongst the members of parliament and the public. The idea of doing away with BOGOF and multi-buy deals aims to reduce the obesity rates in the country and, in effect, reduce the risk of weight-related diseases. Nonetheless, several MPs and the wider public have come out strongly to oppose the rule, with one simple rule of their own– “it is not the government’s prerogative to police what people eat!”
‘Self-responsibility over government control’
While the rule aims to reduce the overall calorie intake across the UK population, one study by the Department for Health and Social Care (DHSC) shows the law will reduce the overall calorie intake across England. According to the analysis, if the rule is implemented, children under 10 are expected to reduce their daily calorie intake by only 2.5 calories, adults are expected to consume 2.8 to 3.7 fewer calories daily, and those over 65 could see a 2.6 calorie difference. While a step forward, the effects may be minimal.
The data above raises the question if government control over foods and drinks is useful or detrimental to the population, given BOGOF and multi-buy deals help people save some money. As Ben Bradley, the Tory MP for Mansfield, said:
“It’s not the Government’s job to make people thin – it’s our own personal responsibility. Ministers should keep their hands off people’s BOGOFs.”
Instead of policing what people buy and eat, the UK government should find ways to promote exercising and keeping fit. Alternatively, the government should reward the self-responsibility of keeping fit and exercising to encourage physical activities instead of banning multi-buy or BOGOF deals.
Better health solutions on the horizon
Unsurprisingly, the UK government wishes to ban BOGOF deals on fatty, sugary and salty foods. The rise of weight-related diseases is becoming an epidemic – the Health Survey for England 2021 estimated that 25.9% of adults in England are obese, and a further 37.9% are overweight but not obese. This raises the risk of chronic diseases such as diabetes, heart failure and poor blood circulation.
Nonetheless, there are better ways to reduce obesity and overweight rates than banning BOGOF and multi-buy deals. One of the most innovative ways to get people to exercise is simply by incentivising them. As Jessica Butcher, CMO of Sweatcoin/Sweat Economy, a move-to-earn app that rewards users for walking consistently, stated on the latest BOGOF rule:
“Maybe instead of removing choices that save people money, or penalising unhealthy choices, they should consider more seriously the prospect of incentivising healthier choices – whether that’s reducing taxes on healthier food options, or more powerfully, incentivising them to be more active – an approach that could result in life-long positive habit change.”
Move-to-earn apps offer a better solution to the burgeoning rates of obesity. One such solution is Sweatcoin, which in partnership with the NHS, has demonstrated the efficacy of this approach. By incentivising users with vouchers and rewards, users increase their step count, reducing the risk of conditions such as diabetes, obesity and cardiovascular disease.
According to research from the Sweatcoin team, on average, users on the platform lose 3kgs in weight and become 45% more active. By promoting such solutions nationwide, the government could save billions spent on preventable health conditions.
Final words: Promoting self-responsibility in personal health
As the latest debates across England show, the banner of “self-responsibility over government control” rises the highest. It is not the government’s role to dictate what people eat but rather encourage individuals to take charge of their health. By shifting the focus towards promoting exercise and fitness, the UK government can empower individuals to make healthier lifestyle choices. Instead of banning multi-buy deals, the government could explore reward systems and incentives for engaging in physical activities.
While banning BOGOF deals is a step in the right direction, it may not be the most effective solution. Better health and technological alternatives are emerging, such as move-to-earn apps, which incentivize users to increase their physical activity and make positive habit changes – a longer-term effect than BOGOF bans.
Ultima, the powerful cryptocurrency ecosystem, has made a groundbreaking move by introducing a platform that offers an astounding 100% cashback for purchases. This platform sets Ultima apart from both traditional and crypto markets, providing users with an opportunity to receive a significant portion of their spent money back within a specified timeframe. The Ultima Cashback platform is a game-changer, revolutionizing the way buyers are rewarded for their purchases.
Developed by the world’s leading blockchain dev team, Ultima offers a range of innovative products and services that are not only distinct in the crypto market but also cater to the everyday needs of cryptocurrency users. With its advanced global infrastructure, Ultima aims to transform the way people interact with cryptocurrency worldwide, enabling instant cross-border payments in crypto.
The Ultima ecosystem encompasses an array of products and services that add value to users’ crypto experience. Ultima Store serves as a seamless e-commerce platform that enables users to online shopping and use cryptocurrencies as payment.
Furthermore, users of Ultima Store can take part in its cashback program. Get a license and receive the cashback for Shopping Vouchers. You can get up to 100% cashback in ULTIMA for purchasing Shopping Vouchers. The ULTIMA Cashback platform is incredibly simple, requiring no technical expertise. Users can easily track the status of each cashback transaction through their personal account, ensuring a transparent and user-friendly experience. The cashback transactions take place securely on the SMART BLOCKCHAIN, and users have the flexibility to assign their preferred wallet for receiving the cashback.
ULTIMA Card is among the most amazing products of the ecosystem. It is a crypto debit card that allows users to make purchases with various cryptocurrencies in nearly any country worldwide. Supporting major cryptocurrencies like ULTIMA, SMART, Litecoin, Bitcoin, Bitcoin Cash, Ethereum, USDT, EOS, and BAT, the ULTIMA Card offers convenience and accessibility to thousands of users globally. The card supports multiple account currencies, including euro, dollar, pound, Chinese yuan, and Japanese yen, with a generous account limit of 150,000 euros.
Ultima Travel Club is another remarkable offering, providing a subscription-based travel platform that enables users to search and book flights, hotels, cruises, and car rentals at exclusive discounts. With the ULTIMA Travel Club, users gain access to a vast selection of options, saving up to 90% on their travel expenses. The platform boasts a comprehensive range of offerings, including 2.5 million hotels and villas, 950 cruise lines, major car rental agencies, and over 300,000 activities in more than 150 countries. This upcoming product is set to revolutionize the way people travel.
As Ultima continues to expand its ecosystem, it is actively developing an advanced crypto-exchange called UltimEx Exchange, ensuring high liquidity and global accessibility for cryptocurrency trading.
Furthermore, Ultima takes pride in its commitment to supporting charitable initiatives and startups. Through the Charity Crowdfunding and StartUp Crowdfunding platforms, set to be launched in the near term, Ultima will provide a trustworthy environment where people and startups can promote and fund their ideas. These platforms leverage blockchain transparency to enhance trust, accountability, and efficiency, fostering a win-win scenario for both project creators and supporters.
With over 2,500,000 users worldwide, Ultima continues to redefine the crypto landscape by offering innovative solutions and unparalleled opportunities. Its remarkable cashback program, combined with a suite of cutting-edge products and services, positions Ultima as a leader in the cryptocurrency ecosystem, revolutionizing the way people engage with digital currencies and making everyday life more accessible and rewarding for users worldwide.