chainwire

Dubai, United Arab Emirates, December 13th, 2024, Chainwire

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, continues to reinforce its commitment to transparency and regulatory compliance. In response to evolving regulations, Bybit has made the difficult but necessary decision to temporarily adjust the availability of its products and services within the European Economic Area (EEA).

Paving the Way with MiCAR Compliance

Bybit is actively pursuing a Markets in Crypto-Assets Regulation (MiCAR) license in Austria, a cornerstone of its compliance-first approach. This effort underscores Bybit’s dedication to aligning with stringent European regulatory standards, enhancing user protection, and delivering a secure trading environment.

“Obtaining the MiCAR license will be a strategic milestone for Bybit,” said Ben Zhou, Co-founder and CEO of Bybit. “Our proactive stance ensures that we meet and exceed the expectations of both regulators and our users, as we work toward a future where innovation and compliance coexist seamlessly.”

Temporary Adjustments to EEA Operations

To ensure ongoing compliance with applicable regulatory laws, particularly regarding reverse solicitation, Bybit has made the difficult decision to generally cease all communication with the EEA region. This measure is intended to avoid any potential breach of the strict reverse solicitation principle. Existing customers’ access to their crypto assets remains uninterrupted. 

Although this was a challenging decision, it was necessary for Bybit to maintain its compliance-first approach. Bybit is actively working towards obtaining a MiCAR license in Austria to become one of the first players in the EEA. Once the appropriate licensing is secured, Bybit will start engagement with its EEA clients in accordance with applicable laws.

Balancing Innovation with Compliance

“As cryptocurrency adoption continues to grow globally, it is Bybit’s mission to deliver secure and reliable trading experiences underpinned by robust regulatory framework to all crypto communities,” said Ben Zhou, Co-founder and CEO of Bybit. “To ensure we meet the highest standards and pave the way for a safer and more sustainable future for the industry, we’ve made the proactive decision to temporarily adjust our operations in the EEA. This allows us to focus on obtaining the necessary licenses and ensuring a fully compliant platform focused on serving EEA clients.”

Commitment to the EEA Market

Bybit will be deeply committed to serving its EEA clients once it receives a MiCAR license. The company is actively engaging with regulatory authorities to expedite the licensing process and start full operations in the region.

Bybit appreciates the support of its users as it navigates this pivotal regulatory journey. For questions or assistance, users are encouraged to contact Bybit’s Customer Support team via Live Chat.

#Bybit / #TheCryptoArk

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

For media inquiries, please contact: media@bybit.com

Contact

Head of PR
Tony Au
Bybit
tony.au@bybit.com

Dubai, United Arab Emirates, December 13th, 2024, Chainwire

Prosper, a decentralized protocol democratizing access to Bitcoin mining by tokenizing institutional-grade Bitcoin hashrate as omnichain real-world assets (RWA), today announced the acquisition of over 7,000 ASIC miners from BITMAIN along with the successful closing of its strategic funding round.

• Backed by Metalpha, Waterdrip Capital, BIT Mining, Animoca Brands, and more, Prosper has procured the new ASIC miners from BITMAIN to bring institutional-grade execution quality to its protocol 
• Prosper aims to expand its underlying Bitcoin hashrate capacity to accelerate the flywheel of DAO-owned hashrate and Bitcoin treasury operations & democratise access to institutional-grade mining 

Following the announcement of Prosper’s long-term partnership and hosting service agreement with BITMAIN, the world’s leading manufacturer of digital currency mining servers, this landmark purchase marks an instrumental step in Prosper’s mission to provide institutional-grade reliability to its mining ecosystem. By leveraging BITMAIN’s cutting-edge products, Prosper enhances the value delivered to its $PROS token holders, further distinguishing itself as the premier Web3 Bitcoin mining protocol backed by leading industry players.

“Bitcoin brought about a fundamental shift in finance by democratizing an economic system in its entirety with blockchain technology. Prosper follows the footsteps of Bitcoin’s core ethos by democratizing access to Bitcoin hashrate, the underlying layer powering Bitcoin-through blockchain technology. This layer of community governance and ownership afforded by blockchain allows Prosper to scale its flywheel of both Bitcoin hashrate and treasury operations while simultaneously helping to ensure that Bitcoin mining layer is sufficiently decentralized to maintain Bitcoin’s status as the most recognized digital reserve currency. ” said Milton Lam, Prosper Advisory Council Member. 

Prosper’s Latest Development

• 1 EH/s of hashrate procured and ready to fully go live (with 250 PH/s live on Prosper’s dApp already)
• Access to pipeline capacity of 170MW with the mid-term goal of adding another 5 EH/s
• More than 2 BTC rewards given out to $PROS holders since November
• Access to more than 200 BTC to be delegated by launch partners to the DAO to unlock TVL opportunities for $PROS holders

Strategic Round Closure: Strengthening the Bitcoin Ecosystem

In addition to its BITMAIN partnership, Prosper announced the closure of its strategic funding round, which saw participation from prominent industry players and financial investors, including Metalpha, Waterdrip Capital, BIT Mining, and Satoshi Protocol. Earlier in October, Animoca Brands also disclosed its intention to purchase $PROS tokens from the open market.

These investments demonstrate the strong confidence in Prosper’s vision of bridging institutional-grade Bitcoin mining power on-chain and its innovative approach to Bitcoin liquidity farming. The involvement of these strategic partners brings crucial industry expertise and networks to support Prosper’s operations as it scales.

Positioning Prosper for Growth

• Prosper’s tokenomics adopts a unique design to ensure hashrate-per-token will only increase and be accretive to $PROS holders.
• Prosper’s DAO leverages a unique flywheel model with both hashrate and Bitcoin treasury operations – all governed by and for the benefits of $PROS holders. 
• Institutional-grade hashrate generates Bitcoin on an ongoing basis, part of which is rewarded to holders for their active participation, and remaining goes to the DAO treasury.
• DAO’s treasury Bitcoin can be directed towards TVL opportunities with ecosystem partners such as Bitcoin L2 to generate benefits for $PROS holders and the DAO.
• Growth in DAO treasury value and $PROS adoption allows the protocol to further expand underlying hashrate and enhance protocol resilience.

By combining institutional-grade Bitcoin mining hashrate, a decentralized protocol design backed by strong fundamentals, and an extensive network of strategic partners, Prosper is well-positioned to solidify its status as the flagship decentralized Bitcoin mining protocol.

About Prosper

Prosper is a decentralized protocol for a community that truly believes in Bitcoin, providing full exposure across Bitcoin hashrate and Bitcoin through tokenizing institutional-grade Bitcoin hashrate as omnichain RWA, and aims to fully unlock the potential of Bitcoin. For more information, users can visit prosper-fi.com or follow on X (formerly Twitter).

Contact

Prosper
contact@prosper-fi.com

Santa Monica, CA, December 12th, 2024, Chainwire

The deal brings together industry leaders and sets the stage for the next era of decentralized digital identity

Dentity is proud to announce the acquisition of Trinsic’s decentralized identity assets, setting the stage for a dramatic expansion of Web3 identity solutions. These assets represents advanced decentralized identity infrastructure in the world, having enabled thousands of developers to build user-controlled identity features into their applications. With this move, Dentity aims to strengthen its position as a global leader in decentralized identity.

“Trinsic’s platform revolutionizes how consumers control and share their personal data,” said Jeff Schwartz, Founder and CEO of Dentity. “This acquisition brings us one step closer to creating a safer, more secure digital future, where individuals are fully in charge of their identity — and can potentially earn from it, not Big Tech.”

Riley Hughes, co-founder of Trinsic, shared, “Dentity stands out as the most successful product built on our decentralized identity platform. Their consumer scale and impressive ecosystem of partners will allow Trinsic’s technology to touch millions more, making Dentity the perfect place for this platform to reach its potential.”

Dentity has joined Trinsic’s Identity Acceptance Network, which enables seamless identity verification through digital IDs in web3 wallets like Dentity, mobile driver’s licenses, and eID apps. Trinsic’s network gives 100 million consumers instant access to Dentity’s products and ecosystem partners.

The Need for Digital Identity

In a world where fraud, online scams, and identity theft are on the rise, digital identity offers a powerful solution. In fact, online grooming crimes have surged 89%, and romance scams are up 160%. This explosion of fraud highlights a major challenge — anonymity online is both a tool for bad actors and a barrier to trust.

Decentralized identity is the key to unlocking trust online. It empowers consumers to securely share only what’s necessary, whether they’re buying, selling, dating, or participating in the growing Web3 economy. For the first time, individuals — not third parties — control their data, cutting out the middlemen who earns from consumer information.

The Timing

Consumers are increasingly dissatisfied with how their data is controlled by large tech companies. Over 75% of people don’t trust Big Tech with their personal information, and they’re demanding more control over their digital lives. Gartner predicts that by 2026, 500 million smartphone users will regularly use a digital identity wallet — a testament to the growing need for decentralized digital identity solutions.

Combining Trinsic’s powerful identity technology with Dentity’s consumer apps and distribution channels accelerates the adoption of reusable, verified digital identities — helping to combat fraud, streamline online interactions, and give users the tools to manage their data.

“The convergence of rising online fraud and consumer demand for more privacy-driven solutions makes this the perfect time for Dentity to scale,” stated Schwartz

A Multi-Billion Dollar Opportunity

The market for digital identity is projected to reach $325 billion by 2027, and with this acquisition, Dentity is uniquely positioned to capture its share. The acquisition not only unlocks new growth opportunities but also helps Dentity and its partners scale faster and reach a wider range of developers looking to integrate decentralized identity into their platforms.

“The future of Web3 and digital identity is about empowering individuals, reducing online fraud, and making the internet a more trustworthy place. We’re building a future where digital trust is easy, secure, and owned by the individual.”

About Dentity

Dentity makes it easy for people to build and manage digital trust online. They empower individuals to create, control, and verify their identity credentials, allowing them to securely share private data with the people and organizations they interact with. Dentity powers one of the world’s most advanced decentralized identity infrastructure, enabling thousands of developers to integrate user-controlled identity features into their applications. Dentity gives millions of consumers full ownership and control over their digital identities. Users can visit www.dentity.com for more information.

About Trinsic

Trinsic is the first identity acceptance network, facilitating 10x faster identity verification for 95 million consumers. Its product acts as a gateway into dozens of identity networks, mobile driver’s licenses, and eID apps. Companies use Trinsic to check for a digital ID before asking users to upload a physical ID document for verification. Since founding in 2019, Trinsic has raised $9.4 million from Georgian, Kickstart Seed Fund, Osage Venture Partners and notable angel investors from the identity space. Users can visit trinsic.id to learn more. 

Contact

Founder and CEO
Jeff Schwartz
Dentity
jeffrey@dentity.com
818-481-9161

Panama City, Panama, December 12th, 2024, Chainwire

PoSciDonDAO, an emerging organization in the Decentralized Science (DeSci) domain, has announced the launch of a decentralized autonomous organization (DAO) dedicated to funding personalized medicine research. Leveraging blockchain technology, PoSciDonDAO aims to improve efficiencies and transparency in research funding while enabling global collaboration to address life-altering diseases such as cancer, multiple sclerosis, and Alzheimer’s disease.

A Vision for Advancing Patient Care

Personalized medicine, which tailors treatments to patients based on genetic and molecular profiles, offers a path toward more effective therapies and better patient outcomes. This field has been hindered by limited funding and systemic inefficiencies. PoSciDonDAO’s mission is to address these challenges by providing resources to explore novel approaches such as viro-immunotherapies and gene and cell therapies.

By funding early-stage, pre-patented research, PoSciDonDAO seeks to drive innovation from academic labs to commercial viability. This initiative is designed to improve healthcare outcomes for patients worldwide by advancing patient-tailored therapies and making innovative treatments more accessible.

Empowering Community Governance

PoSciDonDAO introduces incentive models to foster long-term engagement among scientists, innovators, and DeSci enthusiasts. Its governance framework enables community members to actively participate in DAO operations and funding decisions, ensuring resources are allocated to projects aligned with the shared goal of advancing personalized medicine.

Building Partnerships in Decentralized Science

Since its inception, PoSciDonDAO has been an active participant in Decentralized Science discussions and collaborations. Notably, it engages with other DeSci initiatives such as the Health Data Alliance, which includes projects like AxonDAO, DataLake, and Hippocrat, underscoring its commitment to advancing the DeSci movement. More partnerships and collaborations will be announced in the near future.

About PoSciDonDAO

By combining blockchain technology with scientific innovation, PoSciDonDAO is establishing a collaborative platform for research in personalized medicine. This approach aims to accelerate discoveries and democratize access to resulting treatments, benefiting patients and healthcare systems globally. The PoSciDonDAO team includes experts in virology, immunology, oncology, epidemiology, and Web3. With in-house expertise and contributions from its community members, the DAO can identify which projects have the most potential to impact the personalized medicine field. 

The PoSciDonDAO token (SCI) is central to the DAO’s governance model, allowing community members to participate in decision-making processes. This decentralized and transparent mechanism ensures resources are directed toward impactful research projects.

For more information about PoSciDonDAO, users can visit the official PoSciDonDAO website.

Joining the Community

PoSciDonDAO offers scientists, innovators, and DeSci enthusiasts to become part of this transformative initiative. By advancing research in personalized medicine, PoSciDonDAO aims to contribute to improved therapies and better outcomes for patients worldwide.

Twitter/X | Telegram | Discord

Disclaimer

The information provided herein is for informational or educational purposes only and does not constitute financial, legal, or tax advice. Any purchase, sale, or other transaction related to SCI tokens is undertaken at the sole discretion and risk of the participant. PoSciDonDAO does not assume responsibility for any loss, damages, or other consequences arising out of such transactions.

The SCI token is not and shall not be offered or sold to persons in the United States or individuals/entities on OFAC sanctioned lists. Further, this release does not constitute an offer to sell or a solicitation of an offer to buy any securities or financial instruments in any jurisdiction. Participants are strongly encouraged to conduct their own due diligence and seek independent advice from qualified legal, tax, or financial advisors before engaging with SCI tokens, blockchain technology, and digital assets generally. Participation in any token-related activities is subject to compliance with applicable laws, regulations, reporting, and eligibility requirements, including KYC/AML processes. PoSciDonDAO makes no guarantees or promises regarding the future performance, value, or regulatory compliance of the SCI tokens.

Contact

Marketing Representative
Ayat Abourashed
PoSciDonDAO Foundation
ayat@poscidon.com

Dubai, United Arab Emirates, December 12th, 2024, Chainwire

xHaven, the leading digital collectibles marketplace and blockchain infrastructure provider on Flare, is thrilled to announce the launch of its native governance token, XVN. Available now on Sparkdex, a leading decentralized exchange on Flare, this milestone signifies xHaven’s evolution from a marketplace into an expansive Web3 ecosystem, empowering users with new utility and rewards.

XVN: Powering the Future of xHaven

The launch of the XVN token is a pivotal step in xHaven’s journey to broaden its horizons, offering enhanced services and a seamless user experience across its platform.

Unlocking Exclusive Utility and Rewards

XVN unlocks possibilities within the xHaven platform, offering benefits such as:

• Exclusive Discounts on Trading Fees: Lower costs to encourage more trading activity. 
• Platform Rewards: Earning XVN from a dedicated reward pool for every transaction made on the platform, rewarding both buyers and sellers.
• Marketplace Rewards: Earning voting power from marketplace activity, distributed to XVN stakers through the Governance Token Distribution Mechanism. 
• Incentives for Liquidity Provision: Rewards for providing liquidity on Automated Market Makers (AMMs). 
• Simple Staking Rewards: Yields for staking XVN, in order to promote long-term holding. 
• Governance Participation: Having a say in the platform’s future development and decisions.

Strengthening Liquidity Through Strategic Alliances

To ensure a robust and sustainable ecosystem, xHaven has forged key partnerships with industry leaders Ichi and Sparkdex.

Ichi

xHaven leverages Ichi’s innovative single-token deposit vaults to simplify liquidity provision to a more stake-like experience. These vaults enable single-token deposits into ICHI Vaults via Sparkdex, eliminating the need for both tokens to be deposited into the liquidity pool. This simplified approach to liquidity management enhances price stability, and yield opportunities, and supports xHaven’s ecosystem growth.

SparkDEX

Using SparkDEX V3.1 DEX platform, xHaven is launching liquidity pools that empower users by concentrating assets in designated price ranges. This reduces the risk of Impermanent Loss (IL). 

Empowering the xHaven Community

This launch is about the celebration of the vibrant xHaven community. Since its inception in 2021, xHaven (formerly Sparkles) aimed to become a trusted platform for NFT infrastructure on Songbird and Flare. The XVN token reflects this growth, fostering active community participation and enabling users to shape the platform’s future.

About xHaven

xHaven is a leader in the digital collectibles industry on the Flare network. Dedicated to expanding the possibilities within Web3, xHaven offers a comprehensive suite of tools and services to empower its users. For more information, users can visit https://xhaven.io.

About Ichi

ICHI is a non-custodial, automated protocol that optimizes capital efficiency in decentralized finance (DeFi). By utilizing single-sided concentrated liquidity pools, Ichi simplifies liquidity provision for users across various AMMs, making DeFi accessible and efficient. For more information, users can visit https://docs.ichi.org/home.

About Sparkdex

SparkDEX is the first AI-powered Super dApp on the Flare Network, offering a seamless DeFi experience through innovative derivatives and cutting-edge user experience. Powered by AI, SparkDEX is poised to become the premier gateway for Flare-based trading, being the first to launch Perpetuals on Flare Network. For more information: https://sparkdex.ai. 

Contact

Marketing Team
xHaven
admin@xhaven.io

Florida, USA, December 12th, 2024, Chainwire

Karrier One, a decentralized physical infrastructure network (DePIN) built on the Sui Network, is excited to announce the worldwide launch of its innovative WiFi Hotspot devices. These devices empower individuals to contribute to a decentralized connectivity ecosystem, providing WiFi offloading services to various carriers and earning KONE tokens in return.

This development signifies a significant advancement in decentralized networks, seamlessly integrating Web3 technology with practical, real-world applications.

Unlocking the Potential of WiFi Offloading

As global internet usage continues to surge, traditional networks face increasing pressure from high traffic volumes. Karrier One addresses this challenge by introducing a decentralized WiFi offloading network powered by user-owned hotspot devices. These devices enable participants to offload data traffic from conventional carriers to the Karrier One Network, enhancing efficiency and reducing costs for all involved parties.

The network operates on a straightforward principle: device owners provide WiFi connectivity to mobile carriers and other entities requiring offloading solutions, earning KONE tokens in exchange. This decentralized infrastructure fosters an ecosystem where anyone, anywhere, can participate and reap rewards while contributing to a more efficient internet.

Strategic Partnership with Sui Network

Karrier One’s collaboration with Sui is pivotal to its mission, in addition to enabling the deployment of SCION Services, Walrus Nodes, and Validator Nodes on the Sui blockchain, now Karrier One will enable WiFi Hotspots to the Sui ecosystem. This partnership highlights the shared vision of leveraging cutting-edge blockchain technology for enhanced network functionality and scalability.

“At a time when traditional telecom providers are struggling to keep pace with growing demand, KarrierOne is leveraging Sui’s technology to add much-needed capacity and expand access to underserved areas,” said Jameel Khalfan, Head of Ecosystem Development for Sui Foundation. “Most importantly, with the launch and distribution of KarrierOne’s WiFi hotspot devices, those benefiting from the added coverage will also be able to participate and earn from their contributions.”

Empowering a Decentralized Future

Karrier One’s vision centers on democratizing access to connectivity. The introduction of WiFi Hotspot devices offers individuals an unprecedented opportunity to contribute to a decentralized internet infrastructure while earning token rewards as a result. This aligns with the broader objectives of Web3 by redistributing value and control from centralized entities to the community.

Samer Bishay, Co-Founder and CEO of Karrier One, stated, “By participating in the Karrier One Network, users not only unlock the ability to earn tokens but also play a pivotal role in revolutionizing global connectivity.”

About Karrier One

Karrier One is the first carrier-grade decentralized mobile network that connects smartphones and users seamlessly and anonymously using the Sui blockchain. Karrier One is the only network of its kind to power Micro Networks or Mobile Independent Network Operators agnostic of any frequency or spectrum limitations.

About Sui

Sui is a first-of-its-kind Layer 1 blockchain and smart contract platform designed from the ground up to make digital asset ownership fast, private, secure, and accessible to everyone. Its object-centric model, based on the Move programming language, enables parallel execution, sub-second finality, and rich on-chain assets. With horizontally scalable processing and storage, Sui supports a wide range of applications with unrivaled speed at low cost. Sui is a step-function advancement in blockchain and a platform on which creators and developers can build amazing user-friendly experiences. For more information about Sui, users can visit https://sui.io.

Contact

Chief Strategy Officer
Nahid Masad
Karrier One
pr@karrier.one
416 900 0010

Grand Cayman, Cayman Islands, December 12th, 2024, Chainwire

Demos fully private and decentralized AI chat app with performance on par with ChatGPT and Perplexity AI

Sui, the Layer 1 blockchain that delivers unparalleled scalability and speed, and Atoma Network, a next generation decentralized AI engine, today announced that Atoma’s fully decentralized AI layer, first announced earlier this year, is live on Sui’s Mainnet. The team also offered reporters a first glimpse into the potential of decentralized AI with a decentralized AI Chat app (code named “Utopia”) built on Sui that enables users to have full ownership of their private data while still providing a user experience on par with centralized alternatives. 

With its integration currently live in its alpha version on Sui’s Mainnet, Atoma is actively expanding its decentralized ecosystem with new nodes and application builders. For these developers, building on Atoma is an easy transition because Atoma’s API endpoints are directly analogous to those provided by the OpenAI API, which many of them are already familiar with. Then, with Atoma, they can create personalized applications like chatbots connected to social media, finances, or health applications that still maintain individuals’ control over their data. 

One of the unique strengths of Atoma’s structure is that all of its AI processing occurs in secure areas within a processor — called Trusted Execution Environments, or TEEs. As a result, AI computations are isolated from the rest of the system and AI inputs and outputs are fully private and beyond access by AI companies. Unlike centralized AI applications like ChatGPT, Claude, or Perplexity, where the companies that created the technology can associate inputs with individual accounts, Atoma protects users with complete privacy and censorship resistance. At the same time, by leveraging one of the world’s fastest blockchains, Atoma can offer a user experience with speed and efficiency on par with the centralized versions. 

While the AI chat app Atoma created as an initial demonstration represents one application of its technology, Atoma’s infrastructure empowers developers to create private AI agents that perform a multitude of tasks while protecting individual user data. Because the private AI agents on Atoma can access and process personal information without exposing user data, they are ideal for applications that require personalization and confidentiality. 

For example, Atoma-powered decentralized AI can:

In DeFi: 

• Manage portfolios, balance assets, and mitigate risks automatically. 
• Execute trading strategies in real-time on market conditions.
• Interact securely with smart contracts for yield farming, lending, and staking. 

In Social Media:

• Automate content moderation, curation, and community management. 
• Deliver personalized recommendations for content, connections, and ads. 
• Verify interactions and maintain user privacy.

Private AI agents can also provide significant value across areas like personal assistants, shopping, gaming, and decentralized science (DeSci). 

Atoma leverages Sui-related technology platforms to provide its best-in-class service. Atoma relies on the Sui blockchain for settlement, managing payments, and validating transactions, building on Sui’s industry-leading sub-second transaction finality, support for high volumes, and predictable, low-cost transactions. Atoma also integrates Walrus, a decentralized storage solution built on Sui for fast, secure access to private data. This integration ensures that sensitive information is securely stored and easily accessible, supporting AI models in retrieving external data for context-rich insights. By automatically managing data retrieval during long interactions, Walrus enhances memory, contextual understanding, and workflow efficiency, enabling more accurate AI responses.

“Decentralized AI requires a blockchain with high degrees of scalability, lightning fast transaction speeds, and low, predictable transaction costs and on these metrics, Sui and Walrus really shine,” ​​said Jorge Antonio, CTO and Co-founder at Atoma. “Sui and Walrus offer a combination of performance, cost effectiveness, reliability, and ease of integration that is unique in our industry and we are thrilled to build on the foundation they provide.”

“AI technology is advancing at an unprecedented pace, transforming industries and reshaping how we interact with the world. As adoption accelerates, decentralized and scalable solutions will be critical to safeguarding user control over personal information,” said Jameel Khalfan, Head of Ecosystem Development at the Sui Foundation. “Atoma’s work, built on the highly scalable platforms of Sui and Walrus, ensures that users can leverage the transformative power of AI without compromising the security and privacy of their data.”

Contact

Sui Foundation
media@sui.io

Dubai, United Arab Emirates, December 12th, 2024, Chainwire

Quintes Protocol is set to redefine decentralized finance (DeFi) with its innovative no-depreciation cryptocurrency model. Now protected by a newly-secured Patent Cooperation Treaty (PCT) PCT/IB2024/061188 from the World Intellectual Property Organization (WIPO), this groundbreaking protocol offers a unique approach to perpetual asset growth, ensuring long-term value stability and positioning itself as a global disruptive force in the evolving cryptocurrency market.

Rand Al Kharashi, a visionary young Saudi entrepreneur, aims to redefine the world of DeFi. By securing a WIPO PCT for the proprietary technology behind Quintes Protocol, she has reaffirmed her mission to upend the cryptocurrency market with the world’s first perpetually appreciating asset, offering a groundbreaking model for predictable and sustainable annual price growth.”

“This is more than a milestone for Quintes Protocol – it’s an affirmation that exceptional and continued value can be created in the crypto field,” said Rand Al Kharashi, Founder and Inventor of Quintes. “Quintes is the world’s first crypto asset that is engineered for continued high price growth. Backed intensive research, verifications, and the knowledge of renowned token engineers and researchers from leading blockchain companies, Quintes has just one destination: to pioneer the future of DeFi with unmatched growth, blazing the way for an exciting new world of cryptocurrency value.” 

QNT: A Revolutionary Leap in DeFi

The Quintes Protocol is set to revolutionize the market with its groundbreaking cryptonomics. By employing innovative mechanisms, it reimagines financial instruments, offering a compelling alternative to equities, commodities, and digital assets. This transformative approach positions the protocol to deliver competitive performance while challenging the status quo of traditional financial systems.

Quintes introduces QNT, the first token designed to consistently appreciate in value, addressing challenges like unsustainable yields and asset depreciation. By leveraging an innovative over-collateralization strategy, novel cryptonomics, and AI-driven high-frequency trading, QNT ensures predictable price growth, combining scalability with long-term sustainability.

“We’ve seen the potential for cryptocurrencies to achieve great returns for investors, but that growth is fickle. Growth bubbles occur, burst suddenly and unexpectedly, and the value is often lost. It may be possible for an asset to rebuild to match or even exceed its previous high, but there’s always an element of risk.” Said Rand Al Kharashi, Founder and Inventor of Quintes. “The value of existing crypto, and even more traditional investment assets, is never guaranteed. That is what inspired the creation of Quintes and the concept of perpetual growth, based on predictable collateral value appreciation.”

Why the PCT Patent Matters

The decision to file for a WIPO PCT patent underscores Al Kharashi’s commitment to protecting Quintes’ pioneering engineering on a global scale. This strategic move ensures that Quintes’ innovative protocol is safeguarded as it seeks patent protection in numerous countries, providing a robust foundation for its international expansion, future success and eventual preparation to become open source.

Backed by Elite Research and Talent

The development and engineering of Quintes Protocol is grounded in rigorous research conducted by Kitabq Research Lab, which was founded by Al Kharashi. Over two years, Kitabq’s cryptonomics research has been instrumental in shaping Quintes’ architecture and mechanisms. More details on its cutting-edge research can be explored at Kitabq’s official website, www.kitabq.com. 

Quintes’ technical team is a powerhouse of talent, featuring elite token engineers and data scientists from industry giants like ConsenSys, Binance, Algorand, and Morgan Stanley. Collectively, this team has raised over $600 million in capital and achieved successful exits in both Web3 and Web2 domains.

Anticipated Launch and Investment Opportunities

Scheduled for an official launch in January 2025, the Quintes Protocol aims to introduce its innovative DeFi platform to the market, offering stakeholders a novel approach to sustainable digital asset growth. A recent simulation test revealed Quintes’ positive performance even in bearish market conditions, highlighting its resilience and potential. As Quintes gears up for its groundbreaking debut, the team is actively seeking investment to drive its vision forward.

About Quintes Protocol

Quintes Protocol is a groundbreaking decentralised finance (DeFi) platform that aims to revolutionise the world of digital assets and financial transactions. Founded by visionary Saudi entrepreneur, Rand Al Kharashi, Quintes leverages cutting-edge cryptonomics to deliver predictable and sustainable annual price growth, outpacing traditional and crypto asset classes. The patented technology behind Quintes’ novel, high-yield and fully collateralized digital asset, QNT, is secured by a World Intellectual Property Organization (WIPO) Patent Cooperation Treaty (PCT), representing a major leap forward in the DeFi space. The development of Quintes Protocol has been supported by extensive research from Kitabq Research Lab, led by Al Kharashi. 

For more information:

• Users can visit Quintes’ official website, www.quintes.org. 

• Twitter: @Quintesorg

Contact

Head of PR
Yousef Batter
White Label Strategy
yousef.batter@whitelabelstrategy.io

Cayman Islands, George Town, December 12th, 2024, Chainwire

KAST, a financial technology platform built on stablecoins to deliver a neobank-style experience, has raised US$10 million in seed funding. The round is led by HSG (HongShan Capital Group) and Peak XV Partners. A number of high-profile angels, partners of DST Global, and Goodwater Capital also joined the round.

“For most countries and over half of global GDP, banking does not match the openness and speed of the Internet, it’s fundamentally broken. Stablecoins are the clear solution, but the user experience wasn’t great. We are building KAST to change this”, adds Raagulan Pathy, KAST’s Co-Founder. Pathy is a stablecoin expert, formerly the VP for Asia Pacific & CEO for Singapore at Circle, best known for USDC.

KAST offers payment cards and USD-denominated accounts to people in over 150 countries, the ability to receive and send cash, and working with partners such as Bridge (recently acquired by Stripe). KAST will soon launch savings and other remittance products — all without the need to touch fiat directly. The maturing of stablecoin regulation and acceptance has led to rapid integration with traditional finance networks, enabling users to send money faster, cheaper, and more securely. KAST highlighted use cases such as holding USD stablecoins as an alternative to volatile currencies, enabling people to buy imports and travel with a card, and allowing remote workers globally to get paid.

“The next generation of neobanks will be built on stablecoins and inherently global by DNA. They will differ fundamentally from the current generation of neobanks, which are limited in countries due to licensing, and struggle in integrating blockchain; their core systems and capabilities are just too different,” comments Daniel Bertoli, co-founder of KAST and former Partner at Quona Capital, a global FinTech fund that focuses on investments in neobanks.

KAST has completed a $10 million seed funding round at an undisclosed valuation. Within its first four months, the company has demonstrated strong early traction in terms of user adoption and revenue. The team views this as a reflection of significant global interest in its platform.

Stablecoins have experienced remarkable growth with over US$170 billion in supply, and US$8.5 trillion transaction volume in Q2 2024 by over 125 million users. Analysts predict by 2030; user numbers will exceed 1 billion and supply will surpass US$1 trillion.

“KAST delivers real benefits to global users. Their USD-denominated accounts provide a safe haven for hard-earned income when local currencies decline, especially for those without access to traditional US accounts. As more digital nomads receive salaries in stablecoins, they can now bypass the hassle of legacy rails. International transfers that once took weeks can now be completed instantly and at virtually no cost,” said Alex Svanevik (CEO/co-founder of Nansen.ai, an early investor in KAST).

Users can visit the KAST website to learn more about KAST and discover how their innovative offerings can transform financial experience.

Testimonials from card users

“I spent two weeks at the bank trying to open a simple savings account. They asked for more than 10 documents (~100 papers) and had to sign and stamp each of them. And I opened a crypto card @KAST_official in literally 2min. Why would anyone go after traditional cards anymore? If i don’t need my bank statements for embassies, I would always use crypto cards like @KAST_official” – Mardeni (Twitter)

“One tap to solve all my issues. That’s all it took when I got my KAST card. Here’s a quick recap, I’ve been traveling a lot lately, and exchanging money has always been a hassle. You usually end up losing 5-8% in the process by the time the cash is in your hand. A friend of mine sent me a link and said, “Give this a try!” Fast forward two months, and I’ve been tapping away quite a lot. Thanks to @KAST_official … I’ve used it across five countries over the last couple of months without any issues. It’s made international spending and crypto usage incredibly simple” – Alpha Bets (Twitter)

“I just used my @KAST_official card to pay for my project’s domain name and it worked seamlessly all I had to do was fund it with Solana USDC, this is actually a game changer for me and any other thing I’ll want to do with it” – Alex (Twitter)

About KAST

KAST is transforming the financial-technology landscape, by offering a seamless blend of stablecoin technology with traditional payment means. The KAST platform enables USD accounts globally to 150+ countries, reaching over 5 billion people – offering a solution where banking falls short. The silky-smooth user experience is taking mainstream the openness, speed and security of stablecoins; KAST enables users to send, receive, save, and spend funds across borders efficiently. For more information, users can visit www.kast.xyz.

Contact

VP Global Partnerships
Bas
KAST
Bas@kast.xyz

Grand Cayman, Cayman Islands, December 11th, 2024, Chainwire

Backpack integrates Sui, delivering unmatched speed and scalability to a global audience.

Backpack, a leading exchange and wallet known for its seamless user experience and versatility across multiple asset classes, will integrate with Sui, the Layer 1 blockchain delivering unparalleled scalability and speed.

Backpack Exchange currently serves users from more than 150 countries with $60 billion trading volume since launch a year ago. This partnership between Sui and the Backpack team will create a multitude of integration and listing opportunities for projects on Sui while enhancing user experience for both platforms. 

Backpack wallet is designed for intuitive management, secure storage, and seamless trading of digital assets such as Solana, Ethereum, and soon Sui. The integration of Backpack wallet will provide Sui users with a reliable and secure wallet solution available as mobile apps for iOS and Android as well as a browser extension for Chrome. 

“By integrating the top tier user experiences of Backpack’s fully regulated exchange and non-custodial wallet, Sui is taking a huge step forward in what it delivers to its entire ecosystem of builders, users and enthusiasts,” said Jameel Khalfan, Global Head of Ecosystem at the Sui Foundation. “We are extremely excited to work with the Backpack team to broaden the user experience on Sui and bring all of the platform’s popular features to the Sui community.”

For Sui, Backpack brings a proven platform that simplifies asset management and trading and enables Sui ecosystem participants to engage on the network via Backpack’s credible, trusted infrastructure. For Backpack, integrating the Sui network is a significant step toward broadening the impact of the platforms it has built — expanding its burgeoning audience of users even further to include millions of Sui enthusiasts while at the same time leaning into a multichain future.

“Integrating Sui enables our users to access its rapidly growing ecosystem and opens up new possibilities for Sui developers, projects, and traders,” said Armani Ferrante, CEO and Founder of Backpack.

Contact

Sui Foundation
media@sui.io