Singapore, Singapore, 26th September, 2022, Chainwire
DeFiChain, the world’s leading blockchain on the Bitcoin network dedicated to bringing decentralized financial applications and services to everyone, today announces the listing of its DFI token on Gate.io, one of the world’s leading cryptocurrency exchanges. This is a major step in DeFiChain’s mission to make DFI accessible to investors worldwide.
Gate.io is one of the world’s biggest exchanges and supports the most cryptocurrencies of any exchange. The DFI token (ERC-20 version) will start trading on Gate.io at 10am UTC on September 26th. Initially, it will trade against USDT, though Gate.io could bring a DFI-BTC pair as well in the near future. The native version of DFI will become available on the platform in late October.
Buying the token on Gate.io will enable users to transfer DFI to any compatible wallet the user wants. It gives users access to the entire DeFiChain ecosystem including decentralized stock tokens. The DFI token is also available for trading on Huobi, Kucoin, Bybit (ERC-20 format), Bittrex, Bitrue and Hotbit. Each additional listing makes it easier for investors to enter the world of native decentralized finance on DeFiChain.
“We are extremely happy that the DFI token can now be traded on Gate.io and more and more people are able to access the no. 1 DeFi blockchain on Bitcoin.” said Benjamin Rauch, VP Marketing DeFiChain Accelerator.
The DFI token opens up the world to the DeFiChain ecosystem. It is at the core of all activities on the DeFiChain blockchain including:
- Providing liquidity in multiple pools
- Staking for blockchain consensus and security
- As collateral to mint or borrow stock tokens and the dUSD stablecoin
- As a reward token
- As the governance token of DeFiChain
As the only blockchain to offer decentralized assets on the Bitcoin network, DeFiChain offers users flexibility and benefits of decentralization. Users can mint and trade dTokens to get price exposure to stocks and ETFs without leaving the DeFi ecosystem. They can also buy dTokens – even in fractional pieces – on the DeFiChain DEX.
DeFiChain is a fully decentralized blockchain with on-chain governance. Since its mainnet launch in May 2020, the project has seen an enthusiastic involvement from the community in almost all aspects of the blockchain, from masternodes, projects, tools, governance, economic ideas, to code governance. Its codebase has been developed in an open source manner, and widely peer-reviewed and discussed by many.
About DeFiChain
DeFiChain is a decentralized Proof-of-Stake blockchain created as a hard fork of the Bitcoin network to enable advanced DeFi applications. It is dedicated to enabling fast, intelligent, and transparent decentralized financial services. DeFiChain offers liquidity mining, staking, decentralized assets, and decentralized loans. The DeFiChain Foundation’s mission is to bring DeFi to the Bitcoin ecosystem.
For more information, visit: Website | Twitter | Discord | GitHub
Contact
- Benjamin Rauch
- press@defichain-ac.com
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Voyager Digital Ltd Chief Financial Officer Ashwin Prithipaul is preparing to step down from his role within months of his appointment at the crypto lender that filed for bankruptcy in July.
The company said on Friday the finance head would resign after a “transition period” to pursue other opportunities, and that Chief Executive Officer Stephen Ehrlich will head the role in the interim.
Crypto lenders such as Voyager boomed during the COVID-19 pandemic, drawing depositors with high interest rates and easy access to loans rarely offered by traditional banks.
But inflation and subsequent rate hikes by the U.S. Federal Reserve led to a wide sell-off in the alternative asset class that dealt a heavy blow to several companies in the sector.
Digital asset exchange Coinbase Global Inc (COIN.O) and crypto lender BlockFi have been forced to cut jobs, while Singapore-based crypto hedge fund Three Arrows Capital has filed for bankruptcy.
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Cryptocurrency exchange Coinbase Global Inc is facing a patent lawsuit related to its digital trading technology, brought by a crypto company whose digital token offering led to a settlement with U.S. securities regulators in 2019.
The lawsuit, filed Thursday by Veritaseum Capital LLC in Delaware federal court, claims Coinbase infringed a patent awarded to Veritaseum founder Reggie Middleton by the U.S. Patent and Trademark Office last December.
Veritaseum Capital accused several Coinbase services, including its blockchain infrastructure for validating transactions, of infringing the patent. It asked the court for at least $350 million in damages.
Coinbase, one of the world’s largest platforms for trading cryptocurrency, did not immediately respond to a request for comment on Friday.
Veritaseum formerly issued the token VERI. In 2019 Middleton and two of his Veritaseum entities paid the U.S. Securities and Exchange Commission more than $9.4 million, including a $1 million penalty against Middleton himself, to settle charges of a “fraudulent scheme” to sell the token in 2017 and 2018.
The SEC had accused them of misleading investors about demand for the tokens and manipulating their price, among other things. They agreed to the settlement without denying or admitting to the underlying charges.
Middleton and Veritaseum argued to a Brooklyn federal court earlier in 2019 that they did not make any fraudulent statements, that the tokens were not securities, and that trading at issue was “actually an effort by Mr. Middleton to test out a new online cryptocurrency exchange.”
Veritaseum’s website says it “builds blockchain-based, peer-to-peer capital markets as software on a global scale.” Thursday’s lawsuit accuses Coinbase features including its website, mobile app and Coinbase Cloud, Pay, and Wallet services of infringing a patent covering a secure method for processing digital-currency transactions.
Veritaseum Capital’s attorney Carl Brundidge of Brundidge Stanger said Friday that Coinbase was “uncooperative” when they tried to settle out of court.
Middleton and Veritaseum separately sued T-Mobile in 2020, alleging the telecom company’s security lapses led to hackers stealing $8.7 million in cryptocurrency from them. T-Mobile contested the claims, and the case was sent to arbitration in August.
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Cryptocurrency exchange Kraken has no plans to delist tokens the U.S. Securities and Exchange Commission has labeled as securities, or to register with the agency as a market intermediary, said incoming chief executive officer Dave Ripley on Thursday.
The stance of the San Francisco-based platform, which says it has more than nine million clients, underscores the challenges the securities regulator is facing in its effort to rein in the crypto industry.
Kraken, which made news earlier this year when it denied requests to block the digital wallet addresses of Russian users following the invasion of Ukraine, has long championed the libertarian values associated with cryptocurrency. Its new CEO has promised to stay the course on the company’s culture.
Kraken announced on Wednesday that its often-controversial co-founder Jesse Powell would step down and that Ripley, Kraken’s chief operating officer, will assume the CEO role after the firm hires a new COO.
Ripley will take the helm of Kraken not only at a time when the crypto market is facing a major rout, with bitcoin down nearly 60% this year, but also as the fast-growing industry has been at odds with regulators like the SEC.
Despite reports that the SEC is scrutinizing Coinbase for listing several tokens on its platform the regulator identified as securities in a July insider trading lawsuit, Kraken has no plans to remove those tokens from its exchange, Ripley said.
Ripley added Kraken also sees no reason to register with the SEC as an exchange because his company does not offer securities, despite calls from SEC chair gary gensler for crypto platforms to register.
“There are not any tokens out there that are securities that we’re interested in listing,” he said. “There could be some new token out there that becomes interesting and also happens to simultaneously be a security [and] in that case, we would potentially be interested in that path.”
In a summer when once-formidable players in the crypto market like Celsius Network and Voyager Digital filed for bankruptcy, and others like Coinbase announced layoffs, Kraken has managed to avoid the market downturn, and is now eyeing opportunities.
“To the extent that there are opportunities for M&A in this environment, and perhaps if it’s a company that is actually going through a bankruptcy process, then that’s a potential for us to consider for sure,” said Ripley, adding the company has not made any moves yet.
However, he said Kraken would consider acquisitions that bolster its product and tech portfolio, particularly as the exchange looks to broaden its offerings with a forthcoming platform for non-fungible tokens and banking services for institutional clients.
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Nasdaq Inc (NDAQ.O) is placing a big bet on the cryptocurrency market, with the launch of a digital assets business that is aimed at tapping institutional investors.
The new unit, Nasdaq Digital Assets, will offer custody services for cryptocurrencies, including bitcoin and ethereum, potentially pitting it against firms such as Coinbase (COIN.O), Fidelity Digital Assets and Winkelvoss twin-owned Gemini that offer similar products.
Nasdaq has hired Ira Auerbach, a Gemini executive, to lead the new unit.
The stock exchange has also expanded its anti-financial crime technology to detect and curb money laundering, fraud and market abuse risks, it said in a statement on Tuesday, as the market is constantly on the regulator’s radar.
The crypto market is reeling from a major rout, forcing some of its biggest players to lay off thousands of employees in a bid to cut costs. Bitcoin has crashed nearly 60% this year, driving companies such as Celsius Network and Voyager Digital Ltd to file for bankruptcy.
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Seoul, South Korea, 22nd September, 2022, Chainwire
The NFT Marketplace Calls out To NFT Investors To Grab its Super Successful NFT Before The Launch Of Its New Game ‘Tournaments’ That Will Give Special Access To Existing NFT Holders.
As soon as the Blockchain Gaming Platform and NFT Marketplace, PlayDapp, launched its Non-Fungible Token (NFT) collection ‘PlayDapp Members+ Mikey NFT’, the entire collection of 10,000 free minting NFTs was sold out within three hours. The collection featured DJ Mikey, a badass teenage red panda triumphing his way to Superstar DJ status.
PlayDapp Members+Mikey NFT collection was traded in the marketplace from September 6th to 18th 2022, making a transaction volume of $17,296. With the starting daily floor price for Mikey NFT being at $4.39 during the time of its launch, its floor price skyrocketed to $5.91 marking an increase of 34.6% on its last day of trade. A total of 3,992 NFTs were transferred or sold.
With the success of its PlayDapp Members+Mikey NFT collection, the PlayDapp team hopes NFT enthusiasts will join the community and it’s exclusive club before the main utility and feature of the NFTs kick in with the soft-launch of its newest hyper-casual game ‘Tournaments’ on September 26 that will bring a world of perks to its NFT holders.
PlayDapp’s NFT holders are granted special access to the game tournaments where they will receive more token rewards of $PLA, the Ethereum token that powers PlayDapp, as compared to its non-NFT holders. Moreover, PlayDapp NFT holders are granted more chances to play the game than non-NFT holders which implies that the former potentially gets more chances to try to win the $PLA rewards.
“We are over the moon to have our NFT collection sold out in just 3 hours. From what started as a free minting NFT, the market added value to it making it our top-seller,” says Peter Song Head of Global Marketing at PlayDapp. “It is a very exciting time for us, and now we can’t wait to introduce our new game Tournaments to the market which will boost the demand for our NFTs and make them more valuable,” he adds.
About PlayDapp
PlayDapp is a global blockchain middleware provider that provides companies with the opportunity across many different industries to integrate blockchain technology into their business models and easily turn their assets into Non-Fungible Tokens (NFTs). PlayDapp’s blockchain-based C2C Marketplace allows gamers and users to freely buy, sell and trade their digital assets with each other.
To buy PlayDapp Members+ Mikey NFT, please click on the link here.
For more information, please visit https://members.playdapp.com
PlayDapp is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest.
Contact
Head of Global Marketing
- Peter Song
- PlayDapp
- media@playdapp.io
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Hackers have stolen digital assets worth around $160 million from crypto trading firm Wintermute, its CEO tweeted on Tuesday, the latest heist to hit a sector long plagued by cybercrime.
The theft targeted London-based Wintermute’s decentralised finance operations, Evgeny Gaevoy said in a tweet. The firm, which provides liquidity across major crypto exchanges and trading platforms, remains solvent after the hack, he added.
Decentralised finance platforms and software, which aim to provide crypto-based financial services without traditional gatekeepers such as banks, have been targeted by numerous heists in recent years. The sector is little-regulated and victims of crime rarely have recourse.
Gaevoy and Wintermute did not immediately respond to requests for comment.
Wintermute calls itself “one of the largest players” in global crypto markets. It says it manages “hundreds of millions” in assets and trades more than $5 billion a day.
Gaevoy said on Twitter “there will be a disruption in our services today and potentially for next few days,” adding that some 90 assets were hacked.
“If you are a lender to Wintermute, again, we are solvent, but if you feel safer to recall the loan, we can absolutely do that,” Gaevoy said.
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Cryptocurrencies fell to fresh lows on Monday on regulatory concerns and as investors globally turned shy on risky assets with interest rate rises looming around the world.
Bitcoin, the biggest cryptocurrency by market value, fell about 5% to a three-month low of $18,387.
Ether, the second largest cryptocurrency, dropped 3% to a two-month low of $1,285 and is down more than 10% in the last 24 hours. Most other smaller tokens were deeper in the red.
The Ethereum blockchain, which underpins the ether token, had a major upgrade over the weekend called the Merge that changes the way transactions are processed and cuts energy use.
The token’s value has fallen amid some speculation that remarks last week from U.S. Securities and Exchange Commission Chairman Gary Gensler implied the new structure could attract extra regulation. Trades around the upgrade also were unwound.
“It’s speculation as to what might or might not happen,” said Matthew Dibb, COO of Singapore crypto platform Stack Funds, on the regulatory outlook.
“A lot of the hype has come out of the markets since the Merge,” he said. “It’s really been a sell-the-news type of event,” he added, given the nervous global backdrop, and said ether could test $950 in coming months.
“Looking at the landscape right now, both fundamentally and technically, it’s not looking great. There’s no immediate bullish catalyst that we can see that’s going to prop up these markets and bring in a whole lot of new money and liquidity.”
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While NFTs, or non-fungible tokens, have largely disappeared from mainstream media coverage in recent months amid the crypto market crash, many NFT projects are pressing ahead and fighting for their rightful place in the Web 3.0 ecosystem.
NFT trading volumes are a fraction of what they were – for example, trading on OpenSea plummeted 99% from May to August – but Music NFTs in particular nevertheless still have a promising future, as they are true collectibles and therefore have real value.
This contrasts to other NFT projects, such as the Bored Apes Yacht Club (BAYC), which are solely purchased as speculative investments and have little-to-no underlying value.
The Music NFT space is still in its infancy, but competition is already fierce, with a number of platforms and dedicated marketplaces being launched in the last two or so years.
With there being so many rival platforms for artists to release their NFT drops on, and collectors to scour in the hopes of finding a gem, it can be difficult to determine which is best.
So, we’ve ranked the three best and most exciting music NFT platforms, in no particular order…
Serenade
With offices in the UK and Australia, Serenade is at the forefront of the Music NFT space.
Serenade was founded by Australian tech entrepreneur Max Shand in mid-2020, and the project has collaborated with an impressive array of artists, including The Kooks and Super Furry Animals.
Earlier this year, they raised $4.2 million in a fundraise which Hugh Jackman and executives from the Warner Music Group participated in.
Their platform runs on Polygon – a Layer-2 Ethereum blockchain – which allows them to mint NFT collectibles using as little energy as possible. In fact, 197,000 Serenade NFTs would need to be minted to equal the carbon footprint of a single 12” vinyl, according to the company.
Shand, a music writer and venture capitalist, outlined how anyone can use their platform to buy “digital pressings” from their favourite singer or band.
“The sale of that digital pressing gives you a direct new revenue stream from fans and a relationship to your superfans that you can develop over time. It also allows artists to do things that have been either too expensive – such as a box set – or just not feasible,” he said.
At the moment, Serenade’s USP is they are the first chart-accredited NFT platform in the UK and Australia.
This means that NFT sales generated from their platform will count towards artists’ ranking on the charts – something that’s understandably very important to all artists, irrespective of what stage of their career they’re in.
TokenTraxx
Although a relative newcomer, TokenTraxx is coming in hot, moving from an MVP blockchain development in May this year, to a market-leading platform in just four months. This home of music-related digital collectibles has already surprised with innovative drops, which makes it a prime destination for discovery, buying and trading.
Headquartered in London and founded in 2021 by musicians, the all-star team of music and blockchain industry experts, including Miles Leonard, the renowned ex-Chairman of Parlophone Records and Warner Music and TommyD, the award-winning DJ and producer who’s worked with everyone from Kylie Minogue to Kanye West, is set to turn TokenTraxx into one of the loudest terminals in web3.
A look under the platform’s hood reveals a bigger agenda, one to financially benefit the entire music community by empowering it to choose and own the sound of a decentralised future.
Look out for the launch of Traxx Protocol, which will unveil web3 technology intentionally built for the music industry, creating a demand and supply asymmetry for third-party web2 and web3 properties.
By developing an entire ecosystem, TokenTraxx is emerging as the main stage for music in web3 – powered by TRAXX, already listed on both CEX and DEX platforms.
“I created TokenTraxx to unlock the true value of music for artists,” said TommyD.
“In a world where a streaming dominated music market has reduced the value of music to nothing, we are dedicated to shepherding the artist community into this new economy. We do this by applying a hands-on, white glove approach to artist campaigns and businesses. Our dedicated team of music industry professionals offer both insights, marketing & PR to create digital collectibles with real life value across the entire music ecosystem – from live gigs to merchandise to metaverse.”
TokenTraxx’s curator and collector-centric approach into the decentralised world of unleashed music is ready to uncover an infinite array of experiences for music consumers.
Async Art
Last but not least, we have Async Art. Founded in 2020 and based out of California, Async Art is another music NFT marketplace that is seeking to introduce the world to “21st Century Art”.
Like the other platforms mentioned in this article, Async Art allows artists to unlock another revenue stream by selling digital collectibles to their fans. On the other end, music-lovers can support their favourite artists – or up-and-coming singers or bands – by purchasing their NFTs.
While Async Art primarily caters to artists, it does also allow other, non-music NFTs to be minted. Furthermore, some NFTs minted on Async Art have even been sold at Christie’s, a leading British auction house founded in 1766.
At the moment, their platform doesn’t support fiat, so all NFTs must be purchased and traded using Ethereum, which may not be ideal for crypto novices. However, their support section has a step-by-step guide on how to buy some Ether and connect your wallet to their platform, so even fans who aren’t crypto-savvy won’t struggle to use this platform.
Overall, Async Art is a great music NFTs marketplace, with a great selection of collectibles and frequent new drops and collaborations, even during the recent bear market.
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Cross-chain bridge solution ChainPort has raised $14 million via a combination of public and private rounds of fundraising.
Over 50 VC funds, including DAO Maker, Shima Capital and LD Capital participated in the fundraise which will help ChainPort expand its multi-chain bridge towards greater interoperability within the crypto sphere.
Other VC funds which backed the innovative cross-chain bridge include Master Ventures, Double Peak, Halvings Cap, Metrix Capital, Fundamental Labs, Tribe Capital, Poolz, Kairon Labs, Maven Capital, Lucid Blue, CoinX, Ghaf Capital, Existential capital, among others.
Furthermore, the fundraise for the project’s native PORTX token will help them execute their roadmap and reach key milestones sooner, ChainPort emphasised.
Specifically, in the remainder of 2022 and the first half of 2023, ChainPort will continue to improve the security and integrity of its bridge, while also increasing its functionality by offering support for stablecoins and NFTs, among other crypto assets.
“Our offering and technology resonated with the market from the beginning, even in the current climate. At ChainPort, we aim to follow our own path and find effective solutions to the most urgent issues blockchain bridges are facing today,” said ChainPort CEO Erez Ben Kiki.
ChainPort is currently the only custodial blockchain bridge with full interoperability. In excess of 140 tokens are currently compatible with ChainPort, and they provide custodian-level security, with 95% of user funds being held in offline “cold wallets”.
The cross-chain bridge solution’s porting volume exceeds $632 million, making it one of the ten most popular bridges.
The project has enjoyed impressive growth, with users flocking to this bridge solution due to its leading security measures and convenient one-click porting solution.
Earlier this month, ChainPort became the first-ever cross-chain bridge to support permissionless token porting to Dogechain, allowing crypto investors to conveniently transfer tokens from numerous supported blockchain ecosystems to Dogechain.
At present, the supported chains include Ethereum, BSC, Polygon, and Fantom, but native token support will be added in due course.
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