Grand Cayman, Cayman Islands, March 8th, 2024, Chainwire
Powered by Pravica, S3 will provide builders on the Sui blockchain with the opportunity to seamlessly launch native stablecoins without the complexities of smart contract development and currency management
S3.MONEY (S3), a stablecoin studio developed on top of the Sui blockchain, was officially announced today by Cairo-based blockchain startup Pravica in collaboration with Sui. S3, which stands for “Stablecoin Studio on Sui,” is set to revolutionize the global payment processing landscape by introducing a versatile and user-friendly solution for building and utilizing stablecoins on the Sui blockchain.
S3 offers a key utility designed for building customizable stablecoins directly on the Sui blockchain, which in its initial phase, enables issuers to create fiat-backed stablecoins without building the bespoke technological infrastructure typically required for smart contract development and currency management. S3 not only simplifies the process for existing stablecoin issuers, such as USDC and USDT, to integrate with Sui, but also facilitates the creation of bespoke stablecoin solutions tailored to meet specific regulatory requirements in various jurisdictions.
S3 also establishes an entirely new process for stablecoin management, offering a streamlined one-stop-shop experience through a straightforward interface. Stablecoin Studio on Sui provides intuitive, capable administration with role-based controls, enabling effortless configuration and management of stablecoins. The platform enhances treasury command with built-in proof-of-reserve functionality and seamless integration with on-chain oracles. Integrated KYC/AML features prioritize compliance, strengthening due diligence with qualified identity verification services.
Mohamed Abdou, Founder & CEO of Pravica, expressed his enthusiasm for S3 and Sui as a foundation for Pravica’s stablecoin creator. “Based on the adoption we are already seeing and our deep experience with international payment systems, we are convinced that stablecoins will revolutionize the global payments industry. We also believe that Sui offers the most capable platform for building robust and scalable decentralized utilities. Built on top of Sui, S3 poised to become a global utility for creating customized payment solutions utilized by millions,” he said.
Beyond empowering builders to craft their own stablecoins, S3 also comes with a cutting-edge payments app, Walletify, which serves as a closed-loop payment solution. Walletify allows users to seamlessly transact using the stablecoins created through the S3 utility. Walletify’s closed-loop architecture, building on Sui’s unique Move-based design pattern, ensures a secure and efficient payment experience for both merchants and users.
“The team at Pravica has done incredible work and built much needed financial tooling. Stablecoin Studio on Sui removes an immense hurdle for stablecoin issuers and is set to transform the world’s payment processing industry,” said Greg Siourounis, Managing Director of the Sui Foundation. “We are extremely gratified that they have chosen to build this revolutionary solution on Sui.”
Contact
Sui Foundation
media@sui.io
Toronto, Canada, March 8th, 2024, Chainwire
Conflux Network, the only regulatory compliant public blockchain in China, today announces its pivotal role in assisting the successful beta-testing of the Hong Kong Dollar (HKD)-backed stablecoin, AxHKD. Built by local fintech company AnchorX, the stablecoin will be launched on Conflux Network initially, followed by Ethereum.
Conflux will provide the underlying technology with its superior scalability, security, low latency and cost-effectiveness. With this launch, AnchorX envisions becoming the most trusted provider of digital currency solutions in Asia, empowering reliable and efficient global exchanges.
AxHKD, will be launched initially on the Conflux public blockchain, and utilizes world-class distributed ledger technology and robust cybersecurity measures. It ensures a 1:1 peg to the HKD, backed by high-quality liquid asset reserves. These reserves are protected by a segregated trust arrangement and held by regulated financial institutions in Hong Kong. OKLink Trust, a strategic partner of AnchorX, provides the custodian services for the AxHKD issuance.
AnchorX targets two primary applications for AxHKD. Firstly, as a catalyst for global payments, AxHKD enhances cross-border transactions between Hong Kong/mainland China and the global market. This is particularly beneficial for Belt and Road partners with less developed banking infrastructures. Secondly, AxHKD acts as a reliable fiat-on-chain instrument for virtual asset trading, paving the way for innovation in Real-World Assets and bridging the gap between traditional and digital assets in Hong Kong.
The project is backed by Industry leaders from both the traditional finance and blockchain technology space including Hony Capital, a leading investment management firm in China overseeing over USD 16 billion in assets.
The announcement follows the recent initiatives by Hong Kong authorities to propose a regulatory regime for stablecoin issuers. On December 27, 2023, the Financial Services and the Treasury Bureau, in conjunction with the Hong Kong Monetary Authority (“HKMA”), released a Consultation Paper to gather public comments on the proposed legislation to regulate stablecoin issuers. This paper builds on the Discussion Paper released by the HKMA in January 2022 and the subsequent Conclusion Paper in January 2023.
Byron Wong, the Chief Compliance Officer at AnchorX, commented on the company’s unwavering commitment to meeting regulatory standards, “Hong Kong has adopted one of the most proactive approaches to stablecoin regulation globally. We want to ensure that AxHKD tightly aligns with the proposed stablecoin standards. We will also explore applying for participation in the upcoming regulatory sandbox and hope to contribute our first-hand practical insights to the formation of a successful stablecoin regulatory regime.”
Fan Long, Founder of Conflux, commented “We’re thrilled to partner with AnchorX for the launch of AxHKD on Conflux Network. This collaboration represents a significant milestone in the fusion of traditional finance and the Web3 realm, enhancing the practicality of digital currencies for everyday transactions. AxHKD is poised to play a pivotal role in weaving the Hong Kong Dollar into the fabric of the Web3 ecosystem, driving innovation and financial inclusion.”
About Conflux
Conflux Network is a permissionless Layer 1 blockchain that connects decentralized economies across borders and protocols. It utilizes a hybrid PoW/PoS consensus mechanism to ensure a rapid, secure, and scalable blockchain environment. With Conflux, congestion is eliminated, fees remain low, and network security is enhanced.
As the leading regulatory-compliant public blockchain in China, Conflux offers a distinct advantage for projects seeking to enter the Asian market. The platform collaborates with renowned global brands and government entities in the region, driving blockchain and metaverse initiatives. Notable partnerships include the city of Shanghai, China Telecom, Little Red Book (China’s “Instagram”), McDonald’s China, and Oreo. Learn more: https://confluxnetwork.org/
About AnchorX
AnchorX is a Hong Kong-based fintech company with a vision to be the most trusted provider of digital solutions in Asia. Learn more: https://www.anchorx.org/ or https://twitter.com/AnchorX_Ltd
Contact
Melissa Tirey
melissa@shift6studios.com
San Francisco, USA / California, March 7th, 2024, Chainwire
Firewall secures funding from North Island Ventures, Breyer Capital, and Hack VC to bulletproof smart contract networks.
Firewall, a blockchain infrastructure startup, announced its $3.7M pre-seed round, co-led by North Island Ventures, Breyer Capital, and Hack VC. Firewall transforms the usability of smart contract technology through an innovative finality consensus mechanism that eliminates smart contract exploits.
The founders of Firewall, previously the first and sixth employees at Staked—a staking company acquired by Kraken in a landmark crypto deal—have helped breathe life into the eras of proof-of-stake and decentralized finance over the last six years. In that time, the founders served institutional clients with infrastructure that handled billions of dollars, and now building on their experience, are addressing what most perceive as the final major hurdle to a full embrace of digital assets by the traditional financial system.
“Firewall is building the safety rails that enable the everyday person to use the next era of the Internet,” stated Devan Purhar, Co-Founder of Firewall. “Today, billions of dollars are stolen from users, through irreversible transactions that are classifiable as theft. There’s a parallel between the current state of crypto-networks and the early internet, with a similar lack of essential security infrastructure. Our focus is not on marginal improvements; rather, we bring a required paradigm shift in the usability of blockchains. We designed a solution from first principles, and created programmable finality. Fundamentally, we make exploits a concept of the past.”
Akin to a digital version of a traditional network’s firewall, Firewall’s technology introduces “programmable finality”. It extends rollups to use programmable transaction finalization rules, which act as automated checkpoints that block harmful transactions, inserted before later stages when the data is finalized by a DA layer such as EigenDA or Celestia. The founders envision Firewall as a part of every smart contract network, acting as an embedded security system that intelligently guards against threats.
“Firewall uses real-time algorithms to pre-filter exploits from being included in blocks,” shared Sam Mitchell, Firewall Co-Founder. “Then, by using programmable finality we automatically recover from any exploits that bypass the pre-filter checks. Detection at this stage can involve AI models or social consensus, which may take longer.” Mitchell emphasized that institutions, managing trillions in assets, are interested in the benefits of smart contracts but require a secure environment to deploy capital. “Creating comfort for institutional clients to use smart contracts will be the pivotal point for the widespread adoption of digital assets.”
Past the founders, the core team is credited with successfully pioneering AI use in crypto threat detection at OpenZeppelin and Forta, and is set to revolutionize the field with Firewall’s all-encompassing security approach. The startup’s initial focus is on the rollup ecosystem, and prides itself on alignment with building non-custodial and trustless solutions. The funding will help expand the team and create the community to “firewall the EVM”. Longer-term plans include developing coordination mechanisms to integrate the social layer directly into the Firewall.
Travis Scher, Managing Partner at North Island Ventures, said “We believe the primary impediment to crypto’s mainstream adoption is the current security paradigm, in which a single bug can lead to a total loss of user funds. Firewall’s solution can prevent such losses, and we are thrilled to support such an important company from the outset.”
The funding round was co-led by North Island Ventures, Breyer Capital, and Hack VC, with participation from Finality Capital, and angels including Tim Ogilvie of Staked, Kain Warwick and Jordan Momtazi of Synthetix, Nathan McCauley of Anchorage, and Yaoqi Jia of AltLayer.
“Firewall is making blockchains safer for users, developers, and institutions,” said Ted Breyer of Breyer Capital. “We see this catalyzing a new era of smart contract utility, and we’re delighted to support the team.”
With the growing global adoption of crypto and regulatory spotlight, catalyzed by the BTC ETF and anticipated ETH ETF, the time for crypto-networks to become bulletproof is now. Trillions of dollars remain on the sidelines, scared to use smart contracts. Firewall’s “programmable finality” which effectively neutralizes exploits, offers the security assurance needed to unlock these assets, paving the way for crypto to revolutionize the global financial system.
About Firewall
Firewall is dedicated to making smart contract technology safe to use in everyday life, by eliminating smart contract exploits. Their solution is akin to a robust network firewall, applied to the modular blockchain ecosystem.
Contact
Co-Founder
Devan Purhar
Firewall
devan@usefirewall.com
Dubai, UAE, March 7th, 2024, Chainwire
RWA focused blockchain, MANTRA is excited to announce the upcoming launch of the MANTRA Chain Hongbai Testnet, scheduled for. The development marks a significant step in MANTRA’s mission to revolutionize the DeFi ecosystem by integrating it with traditional markets and attracting non-crypto native users and institutions.
Following the success of its first testnet in November, which garnered strong support from 100 active validators, MANTRA aims to build on the momentum with its Hongbai successor. This new phase aims to attract more users and decentralized applications (dApps) to its ecosystem, further solidifying its position as a major player in the tokenized RWA space.
A Layer-1 blockchain focused on Real-World Assets, MANTRA Chain enables regulatory-compliant assets and protocols at the protocol level and leverages the robust infrastructure of the Cosmos SDK. Assuring interoperability through the IBC protocol and compatibility with CosmWasm contracts, MANTRA Chain is at the heart of the platform’s vision to unlock a $16 trillion RWA market by 2030.
The architecture of MANTRA Chain, which is secured by a sovereign Proof of Stake (PoS) validator set and the CometBFT consensus mechanism, is divided into five core layers: staking, interoperability, execution, module and application. These layers are meticulously designed to meet the demands of an RWA-focused blockchain infrastructure, offering decentralization, security, and a set of regulatory-compliant frameworks.
MANTRA’s DAO-approved $OM token offers various governance utilities and rewards for stakers. As well as allocating a total of 1.35x rewards to all stakers, $OM serves as the standalone network token for accessing and performing all on-chain services and activities.
Committed to supporting developers, institutions, and builders looking to create, trade, and manage various RWAs on-chain, MANTRA’s key modules (Guard Module, Token Service Module, Liquidity Module, and Compliance Module) form part of the Composable Module Layer, ensuring adherence to regulatory requirements at the protocol level.
As a fully compliant multi-asset platform, MANTRA represents a useful bridge between the worlds of Traditional Finance (TradFi) and Decentralized Finance (DeFi), paving the way for both institutional and individual retail investors to participate in the latter. While the platform’s execution layer MANTRA Chain generates revenue through a SaaS subscription model for dApps deploying on-chain, its DEX module offers unique tokenized RWAs that are not available for trading or investment on other blockchain networks.
About MANTRA:
MANTRA is a Security first RWA Layer 1 Blockchain, capable of adherence and enforcement of real world regulatory requirements. Built for Institutions and Developers, MANTRA offers a Permissionless Blockchain for Permissioned applications.
Website | X | LinkedIn | Telegram | Medium | Instagram
Contact
Marketing Lead
Christoph Lidman
press@mantrachain.io
ChatGPT was one of the hottest tech stories of 2023, reaching 100 million monthly active users after just a few months and spawning endless op-eds about the “age of AI.” Today, OpenAI’s flagship product boasts a user base of 180 million and attracts a billion web visitors each month.
While many commentators marvel at AI’s evolution and cite ChatGPT’s impressive 100 billion daily word output, the scope of chatbots is rather limited. Sure, they can help to produce reports, write emails, generate code scaffolding, and enact customer service interactions. Still, human-like conversation ability, conveyed via words on a screen, is only helpful in certain industries and for very specific tasks.
Large swathes of the labor market have little use for ChatGPT or chatbots generally. But that doesn’t mean they aren’t leveraging AI in other ways.
AI’s Unstoppable Trajectory
AI-powered robots, for example, are already heavily involved in the automotive industry, particularly in the manufacture of new vehicles. AI, of course, is intrinsically linked to the development of autonomous cars.
Elsewhere in industry, AI-powered predictive maintenance systems can prevent equipment failures, while generative AI can optimize product design in a host of different sectors.
Just last week, Microsoft, Nvidia, and OpenAI were among a long list of investors who participated in a funding round for AI robotics firm Figure, with the $675 million raise giving the company a valuation of $2.6 billion. The California-based Figure is currently working on developing general-purpose, human-like robots that can be deployed commercially – including in factories and warehouses.
Between LLMs, whose specialty is words, and other emerging systems and models with more hands-on ability, AI is on a seemingly unstoppable trajectory. Even when the hype around ChatGPT inevitably subsides, the sheer number of practical use cases and major investments (including those made by governments) flowing into AI projects will ensure the momentum continues.
It is not easy to say which verticals will see the most traction but projects operating at the intersection of AI, robotics and spatial computing are likely to be heavily represented. Goldman Sachs analysts expect the AI-powered humanoid robot market to reach $38 billion by 2035. Spatial computing, meanwhile, is predicted to hit $705 billion by 2033.
How Spatial Computing Brings AI Into the World
Spatial computing has received less media attention than AI, but it’s starting to be recognized as a major innovation. This cutting-edge technology enables machines to better understand their environment and allows humans to interact with computers in meatspace rather than through a screen.
By combining a 3D-centric form of computing (VR, AR, XR, etc) with AI and machine learning, projects working in this field effectively help AI systems gain spatial awareness, interact with the corporeal world, and break free from the strictures of the internet.
By way of an example, let’s consider a ubiquitous tool: the smartphone. It may be clever, but it’s not spatially aware: how many people have walked directly into a streetlight or pedestrian while busy texting? If your device were spatially aware, it could warn you when you get too close to a hazard.
Hazard perception will be one of the key metrics by which self-driving cars are judged. If spatial computing does its job, autonomous vehicles will navigate the roads with aplomb.
Spatial computing isn’t just about teaching technology to understand space. It can also be used to create three-dimensional models of environments over which digital items can be laid. One use case is in housebuilding, where architects can map a property and create life-like designs on a virtual simulacrum of bricks and mortar. Another is retail.
One project called the posemesh is already demonstrating how spatial computing can serve as the foundational layer for AI to gain spatial reasoning. The ambitious protocol facilitates various use cases in sectors like retail and logistics and comprises a decentralized network for collaborative spatial computing, as well as a domain service processing spatio-semantic data about physical spaces. There’s also an SDK developers can use to connect custom apps to the posemesh.
The brain trust, Auki Labs, building the posemesh believes an “AI confined to the internet will be perpetually disappointing.” It’s an assertion that speaks to the limitations of artificial intelligence interfacing solely through a screen. For AI to come bounding out of the computer, however, it needs an enormous amount of sensor data (from cameras, scanners, microphones, wearables, etc) and the underlying architecture to process it all.
The posemesh addresses this need by allowing devices scattered around the world to form ad-hoc distributed spatial computers, where data and compute resources can be moved within the cluster to optimally solve for participants’ economic interests. Powered by blockchain, the posemesh distributes rewards to participants based on metrics such as data served, sessions hosted, and response time. Network service operators, meanwhile, can stake the protocol’s native token to establish a reputation that can be slashed if they fail to maintain the protocol’s uptime standards.
Debates often rage about artificial general intelligence (AGI), and they mostly center on whether it’s a goal we should even risk trying to achieve (we’ve all seen Terminator 2). But a more obvious staging post on AI’s revolutionary journey concerns its ability to reason spatially, not intellectually: to understand depth, identify danger and move accordingly.
We aren’t there yet. But projects like the posemesh and others are bringing the future into clearer focus. Now, what would ChatGPT have to say about that?
The recent surge in Bitcoin’s price past its previous all-time high, surpassing the $69,000 mark, has sent waves of optimism across the industry, with analysts predicting a boom for Algorand, Bitcoin Dogs, and the emerging BlockDAG (BDAG). This Bitcoin surge is not just beneficial for Bitcoin enthusiasts but also heralds a positive outlook for other cryptocurrencies.
With the Algorand price witnessing a significant rally, Bitcoin Dogs presale stirring the market, and BlockDAG’s ongoing presale bull run, investors have a palpable sense of anticipation. Especially as BlockDAG nears the sell-out of its second presale batch, early investors are on the verge of witnessing 5,000x investment returns.
Algorand Price’s Ascending Arc
Algorand has emerged as a formidable player in the crypto market, with its price experiencing a substantial bullish breakout. The surge in Algorand’s price to a peak of $0.266 marked its highest value since February 2023, signifying a solid rally and propelling its market capitalisation to over $2 billion. This rally is a staggering 200% climb from its 2023 lowest point.
Algorand’s rising reflects a resilient ecosystem despite past pressures, notably within the DeFi sector. With its Total Value Locked soaring to over $242 million, Algorand has demonstrated a 50% increase in the past month alone. This growth underscores Algorand’s potential as a safe investment option for its investors.
The Frenzy Around Bitcoin Dogs Presale
Bitcoin Dogs has captivated the crypto community with its presale. This fervour around the presale, powered by its association with the Bitcoin blockchain, anticipates a bullish ripple effect across the crypto market.
As Bitcoin’s price hit its all time high of over $69,000, there is a lot of sentiment around Bitcoin Dogs and its potential to make new records in future. This connection amplifies Bitcoin Dogs’ appeal and solidifies its position as a compelling investment in the changing crypto world.
Amid escalating excitement, BlockDAG has made a notable entrance as a new contender alongside Bitcoin Dogs, as it swiftly draws investors’ interest due to its promising prospects for substantial investment returns.
BlockDAG Coin’s Bullish Presale
BlockDAG has impressively gained over $2.7 million through its ongoing second batch presale. As the second batch nears sell-out, the upcoming third phase is anticipated to witness a significant price increase.
Early investors who participated in the first batch of BlockDAG’s presale have already achieved a substantial return, with the potential for future returns to surpass 10,000x. BlockDAG’s emergence as the ‘Kaspa Killer’ has brought the newest crypto into the spotlight, attracting attention from investors seeking the next ample opportunity.
This new cryptocurrency stands out for its innovative crypto-mining approach and promising return on investments. BlockDAG’s commitment to offering a user-friendly mining experience and the potential for significant returns positions it as a noteworthy contender in the crypto market.
The BlockDAG mobile application and home mining solutions underscore its dedication to inclusivity and efficiency, appealing to a broad audience, including experienced and novice miners. Moreover, analysts predict BlockDAG prices will reach $10 between 2025 and 2030, making it one of the best crypto investments for significant growth.
Final Thought: The Best Crypto Investment
Bitcoin’s impressive ascent has opened up new opportunities for growth for BlockDAG, Bitcoin Dogs and Algorand price. Each offers a unique proposition to the crypto investor – Algorand’s robust market cap growth and significant TVL increase, the Bitcoin Dogs presale success driven by its Bitcoin affiliation, and BlockDAG’s promising presale performance and mining innovations present compelling narratives.
However, BlockDAG’s blend of early investment incentives, practical mining solutions, and the palpable market excitement surrounding its presale batch makes it an ideal choice for investors seeking the best crypto investment. As we navigate the vibrant crypto market, BlockDAG’s potential to mint substantial wealth for its community positions it as a frontrunner in the race for crypto supremacy.
BlockDAG Presale:
Website: https://blockdag.network
Presale: https://purchase.blockdag.network
Telegram: https://t.me/blockDAGnetworkOfficial
Discord: https://discord.gg/Q7BxghMVyu
Disclaimer: This is a sponsored press release that was not produced by Crypto Intelligence’s editorial team.
Paris, France, March 5th, 2024, Chainwire
Uniting Web3 Visionaries and Global Leaders
Following the success of its 2023 edition, the Proof of Talk summit, heralded as the Davos of Web3, is back for its second year and brings together thought leaders, investors, CEOs, founders, exchanges, digital asset managers, and regulatory authorities for networking and thought-provoking sessions. Held on 10 and 11 June at the historic Museum of Decorative Arts in the Louvre Palace at the heart of Paris, this summit has its sights on delivering a unique event with a highly-curated audience dedicated to shaping the future of blockchain and global policy.
Last year, Proof of Talk welcomed over 1500 ecosystem participants, including key figures from Binance, VanEck, Ripple, and the World Economic Forum, alongside CEOs and founders of leading blockchain companies and government representatives. After the event distinguished investor, venture partner, and Proof of Talk attendee Leeor Groen, Managing Director, Spartan Group, aptly noted that it was “where Web3 meets the spirit of Davos.” The summit facilitated crucial discussions on rebuilding trust within Web3, reflecting the industry’s need for a platform that encourages genuine engagement, meaningful connections, and strategic collaboration.
With the SEC’s recent spot Bitcoin ETF approvals and the Markets in Crypto-Assets Regulation bringing more clarity to the space in Europe, the stage is truly set for widespread blockchain adoption and development of digital assets beyond cryptocurrency. This year’s conference harnesses and reflects this revitalization and will assemble blockchain and Web3 professionals from around the world to engage with C-level executives, explore partnerships, and generate investment opportunities that will reshape industries and create new paradigms.
The highly-curated 2024 forum seeks to welcome over 2500 participants. Combined with a speaker lineup featuring CEOs, founders, and leaders of the Web3 and digital assets industry, the summit features impact-focused networking and a refined agenda. A few of the speakers include:
· Joseph Lubin CEO and Founder at Consensys
· Jenny Johnson, CEO, Franklin Templeton
· Tim Draper, Founder, DFJ
· Ophelia Snyder, Cofounder President, Ark 21 Shares
· Mihailo Bjelic, Co-Founder, Polygon
· Raoul Pal, Crypto Macro Economist
· Yat Siu, Chairman, Animoca
· John Wu, President, Ava Labs
· Justin Sun, Founder, Tron
· Marieke Flament, former CEO, Near Foundation
· Dominic Williams, Founder, DFINITY
· Björn Wagner, CEO, Parity technologies and Polkadot
· Jon Fink Isaksen, Head of Policy, Uniswap
· Matthew Siegel, Head of Digital Assets, Van Eck
· Christopher Donovan, COO, NEAR Foundation
· Lex Sokolin, Managing Partner, Generative Ventures
· Digital asset leads from over 30 major TradFi banks
· Partners from 100+ attending VCs
The summit’s agenda also actively reflects Web3’s growing importance, with over 20 panels, 10+ workshops, and over five keynotes and firesides on key topics shaping Web3’s future. These include real world asset tokenization, AI-blockchain integration, gaming evolution, and smart contract security.
Zohair Dehnadi, Co-Founder, Proof of Talk and Partner, X-Ventures: “We are overwhelmed by the positive feedback we received from our 2023 summit, with some attendees even sharing it reminded them of the World Economic Forum’s early days. We’re also delighted at all the interest from both speakers and potential sponsors for this year’s edition. Right now, the industry is on the brink of a new era, and we’ve harnessed this enthusiasm to curate an event with the most influential people from Web3, digital assets, and traditional finance to shape the agenda of the future. It’s important to provide an inspirational forum for these players, from founders and funds to legal experts and regulatory authorities, to engage in high-impact networking, share best practices, and have those necessary but tough discussions that will safely move the space forward. I’m proud to offer the industry such an exclusive experience at one of Paris’ most iconic locations, and am looking forward to seeing everyone in June!”
About Proof of Talk
Proof of Talk is setting a new standard in the Web3 conference landscape, positioning itself not just as another web3 conference but as a pivotal forum where the promise of decentralization comes to life. The summit uniquely combines the essence of traditional economic forums with the dynamic, decentralized Web3 community, fostering an innovative ecosystem of dialogue and action. It stands as a platform for change, where every voice, from the seasoned economist to the radical Web3 founder, contributes to a collective vision of a decentralized economic future. By facilitating engaging discussions and unparalleled networking, participants shape this new landscape. Learn more at www.proofoftalk.io
About X Ventures
X Ventures is a Germany-based digital assets investment fund dedicated to supporting and empowering entrepreneurs in the Web3 industry. Alongside its investment activities, X Ventures founded www.xschool.io, aiming to provide accessible education to future leaders worldwide.
Contact
Shanna Molina
Cognito
shanna.molina@cognitomedia.nl
+31 6 18 72 87 55
An integrated crypto market strategy is a comprehensive approach to trading and investing in cryptocurrencies, leveraging a blend of technical analysis, fundamental analysis, risk management, and diversification to optimize returns while mitigating risks.
This strategy acknowledges the volatile and unpredictable nature of the crypto market, incorporating various tools and methodologies to navigate its complexities effectively. Below, we explore the key components of an integrated crypto market strategy, highlighting how each contributes to a holistic trading and investment approach.
Understanding the Market Dynamics
The foundation of any successful crypto market strategy lies in a thorough understanding of the market dynamics. Cryptocurrencies are influenced by a wide array of factors, including technological developments, regulatory changes, market sentiment, and macroeconomic trends. An integrated strategy begins with keeping abreast of these factors through continuous research and analysis.
Fundamental analysis involves evaluating the underlying technology, use case, and team behind each cryptocurrency to assess its long-term viability. Meanwhile, technical analysis focuses on price movements and trading volumes to identify potential buying or selling opportunities.
Diversification
Diversification is a critical component of minimizing risk in the volatile crypto market. By spreading investments across different cryptocurrencies, sectors, and even asset classes, investors can reduce the impact of a poor performance in any single investment. An integrated strategy might include a mix of established cryptocurrencies like Bitcoin and Ethereum, along with smaller altcoins and tokens from emerging sectors such as decentralized finance (DeFi) and non-fungible tokens (NFTs). Diversification extends beyond cryptocurrencies, incorporating other assets like stocks, bonds, and commodities to further hedge against crypto market volatility.
Risk Management
Effective risk management is paramount in the crypto market. An integrated strategy employs various techniques to manage exposure and protect capital. Setting stop-loss orders, for example, can limit potential losses on individual trades. Position sizing is another crucial aspect, ensuring that no single trade can significantly impact the overall portfolio. Additionally, an integrated approach might use dollar-cost averaging to mitigate the effects of volatility, investing a fixed amount at regular intervals regardless of the asset’s price.
Staying Informed and Adaptable
The fast-paced nature of the crypto market requires investors to stay informed and adaptable. An integrated strategy emphasizes the importance of continuous learning and the willingness to adjust tactics in response to new information or market developments. This might involve reallocating assets as market conditions change, taking profits in response to short-term price spikes, or revising the investment thesis based on emerging trends.
Leveraging Technology
Technology plays a vital role in executing an integrated crypto market strategy. Automated trading bots, for example, can execute trades based on predefined criteria, enabling investors to take advantage of opportunities around the clock without constant market monitoring. Portfolio management tools help track performance across multiple exchanges and wallets, providing a comprehensive view of investments. Additionally, blockchain analytics platforms offer insights into on-chain data, helping investors make informed decisions based on actual network activity.
Press Releases
Submitting press releases in top-tier crypto sites, like Cointelegraph and Coindesk, is a key way to raise awareness and help a crypto project achieve its marketing objectives.
PRs can often lead to a wave of media coverage and heightened interest.
Palo Alto, California, March 1st, 2024, Chainwire
Using OpenRank, developers and web3 companies can build consumer apps where people can discover, use, fund, read, or buy something on-chain without worrying about getting spammed or scammed.
Karma3 Labs has raised $4.5M in seed funding led by Galaxy and IDEO CoLab Ventures to build OpenRank, a decentralized reputation protocol. Using OpenRank, developers and web3 protocols can power consumer apps, communities and marketplaces with an open ranking and recommendation layer that provides users with security and peace of mind when making decisions onchain, without having to trust centralized gatekeepers. Some of the early use cases of OpenRank include leveraging a community rating system for App Marketplaces like Metamask Snaps; Ranking and Recommendation APIs for Lens and Farcaster; On-Chain discovery feeds for consumer apps and wallets; and reputation-based voting and governance.
Introducing trust and reputation mechanisms is critical to web3, just as it has been for web2, where there have been countless use cases in decentralized peer-to-peer utility. For example, Uber decentralized taxi services because of driver ratings; AirBnB decentralized hotels because of host ratings; eBay decentralized the shopping mall because of seller ratings; Reddit decentralized gated community forums because of user karma badges; Google allowed for the practical use of the decentralized web because of PageRank. However, none of these services were able to be fully decentralized because a single entity owned the reputation scores. To prevent centralized gatekeeping, there is a need for decentralized reputation mechanisms. Such reputation systems need to be open-source, permissionless, flexible to different contexts, and Sybil-resistant.
OpenRank solves for this in web3, creating a decentralized reputation mechanism that sets the foundation for a future where peer-to-peer interactions and collective community intelligence power a decentralized web of trust, rendering centralized gatekeepers obsolete. The protocol aims for a scenario where Twitter’s Community Notes like system was possible, but not owned by a single company, openly and cheaply accessible to any developer, who could define their own algorithm of choice.
“A decentralized internet characterized by fairness and transparency hinges on the existence of a robust reputation system,” said Sahil Dewan, founder and CEO of Karma3 Labs. “We believe that on-chain social and consumer experiences will need a decentralized reputation protocol and we’re excited to onboard builders and developers for OpenRank.”
OpenRank enables any developer to permissionlessly compute on Reputation Graphs for ratings, ranking or recommendation for their apps or communities. These graphs can be constructed using on-chain or any peer-to-peer social graph data. Using graph algorithms, like EigenTrust, the OpenRank will enable verifiable compute on these reputation graphs.
OpenRank leverages zero-knowledge proving systems for running graph algorithm computations. Developers can use any on-chain data that suits their application context without having to worry about the cost or verifiability of computing on the data. Consumer applications and marketplaces will be able to integrate context-specific, native rankings and recommendations seamlessly. Moreoever, developers can also leverage rankings and reputation from other ecosystems and communities to bootstrap their own reputation system. OpenRank believes that a reputation compute layer in web3 would allow a broader range of useful applications, including those that resist cryptographic or game-theoretic mechanisms of trust. To achieve this, the team needs a system that is resilient to Sybil contexts, provides scalable compute and can be permissionlessly used by any developer.
“OpenRank represents a pivotal advance in web3 social and on-chain interactions. We’ve seen the impact PageRank has had in web2 and there is a massive opportunity to build a similar reputation primitive on-chain,” said Mike Giampapa, General Partner of Galaxy’s venture team. “We’re excited for the future of Karma3 Labs and what they’ve built with OpenRank, and are proud to lead the company’s seed round.”
The fundraise was led by Galaxy and IDEO CoLab Ventures, with participation from Spartan, SevenX, HashKey, Flybridge, Delta Fund, Draper Dragon, and Compa Capital. Angel investors from Xooglers Fund and veterans from Coinbase, ConsenSys, IPFS, along with Andrew Hong from Dune Analytics and Liang Wu from the Harvard Crypto Lab also invested in the seed round. The raise enables OpenRank to broaden adoption across early use cases and help launch protocol v1 for developers, ushering in a new era of permission-less and verifiable reputation computation.
“Karma3 Labs and the OpenRank protocol for reputation and trust will enable radical innovation around choice, personalization and safety for a rapidly evolving internet. We are excited to see OpenRank already being implemented to enable open marketplaces, spam reduction and choose your own algorithms. This only scratches the surface of what’s possible and we look forward to working with the Karma3 Labs team to bring these possibilities to life,” said Joe Gerber, Managing Director of IDEO CoLab.
About OpenRank
OpenRank is a decentralized reputation protocol founded by Karma3 Labs. OpenRank introduces decentralized reputation mechanisms that set the foundation for a future where peer-to-peer interactions and collective community intelligence power a decentralized web of trust, rendering centralized gatekeepers obsolete. With OpenRank, we can build a more reputable world.
Contact
Karma3 Labs
hello@karma3labs.com
Grand Cayman, Cayman Islands, March 1st, 2024, Chainwire
Ondo launches native access to tokenized real-world assets on Sui
Sui, the Layer 1 blockchain that offers industry-leading performance and infinite scaling, has announced that Ondo Finance’s yield-bearing stablecoin alternative is now live on the network and available for immediate use by builders, developers and their end users. Ondo’s US treasury-backed and interest-bearing token, USDY, is the Sui Network’s first native dollar-denominated token.
Ondo’s expansion to Sui offers key functionalities enabling builders and developers within the ultra-composable Sui ecosystem to create decentralized applications with significantly more features. Sui’s fast-rising DeFi TVL and volume, along with its adoption by leading projects, including some from other platforms, indicates a network that is experiencing growing demand for its next-generation financial applications.
Ondo Finance is the third-largest platform bringing tokenized forms of real-world assets onto public blockchains with $185M in TVL. Ondo’s flagship Treasury-backed tokens and other tokenized real-world assets will create countless new opportunities for teams building on Sui. At inception, DeFi protocols with immediate integrations of USDY include Aftermath Finance, Cetus, NAVI Protocol, Typus Finance, Bucket Protocol, Turbos and KriyaDEX.
“I am extremely excited to bring the unique benefits of Ondo’s treasury-backed, yield-bearing USDY token to the builders and developers on Sui,” said Ondo’s founder and CEO, Nathan Allman. “The combination of our technologies offers this group, which is already creating apps at the forefront of DeFi, a unique opportunity to leverage Sui to advance the industry even further.”
The tokenized treasury-backed offerings that now live on the Sui Network represent tradable tokens backed by real-world assets, marking a significant step toward growing DeFi in the ecosystem and across the industry.
“Sui’s rapid growth in decentralized finance, exemplified by the significant assets and projects coming to the ecosystem, is a clear illustration that the network is ready to incorporate the latest in tokenized real-world assets,” said Greg Siourounis, Managing Director of the Sui Foundation. “Having a version of Ondo’s USDY that is native to Sui will unlock exciting new opportunities for Sui’s builders and developers and new features for the users of their applications.”
Contact
Sui Foundation
media@sui.io