Amulet, a decentralized finance (DeFi) insurance protocol for Rust language-based ecosystems, has successfully raised $6 million in its first funding round. 

The seed round was led by gumi Cryptos Capital and joined by Republic Capital, Solana Ventures, DeFiance Capital, Animoca Brands, United Overseas Bank, Signum Capital, Mirana Ventures, NGC Ventures, LongHash Ventures, SevenX Ventures, CMT Digital, Matrixport Ventures, a41 Ventures, Solar Eco Fund, Daedalus, Cobo Wallet and Re7 Capital, and a few ecosystem partners such as the Serum and Acala networks. 

READ: FNDZ unveils multi-token staking feature

In the last year, the total value locked (TVL) of Solana (SOL) has been growing faster than Ether (ETH), but there is currently no native insurance protocol.

Amulet utilizes Solana’s proof-of-stake network to provide stable returns and provide insurance services with its unique Protocol Controlled Underwriting and Future Yield Backed Claim mechanism, which minimizes risk for underwriting capital providers. 

In 2021, there was more than $10 billion lost due to various hacks and frauds in the crypto space, including $2.6 billion in exploits on DeFi protocols, according to an Immunefi report. A lack of sustainable design and coverage gaps has led to insurance being persistently undervalued in the DeFi space, and as a result, very little of that lost money has been recovered. This is also a concern in the wider world for the metaverse, GameFi and the broader Web3 space. 

The market needs better insurance solutions, and until the launch of Amulet, that hasn’t been available for DeFi investors. Amulet will be the first Rust-based DeFi insurance protocol, initially deployed on the Solana network, built to address this high market demand. 

Amulet will adopt a multichain strategy and deploy it to other non-Ethereum Virtual Machine-based ecosystems along the road.

“Lately, we’ve seen some epic hacks in cross-chain bridges,” said Miko Matsumura, managing partner of gumi Cryptos Capital. “We appreciate the novel design of Protocol Controlled Underwriting and feel that this mechanism will become a standard way to mitigate some of the substantial risks in DeFi.”

Amulet is led by Rupert Barksfield, a serial entrepreneur who’s worked in crypto since 2016 and has more than 15 years of experience in the technology sector.

Barksfield said, “I am extremely excited to be leading the launch of Amulet. We’ve built an incredible team and aim to build a powerhouse community driving adoption of Web3 while protecting [user] risk. There is an enormous TVL — $35 billion-plus — for Rust-based ecosystems, and this is a market that we can not only penetrate but also lead the way for protecting more users from potential hacks, fraud and other risks. After analyzing the future projections deeply, the next five years are going to be extremely important for our own growth, and that is why we had to act today to announce Amulet, [which] is built, with openness, scalability and sustainability at the forefront of our minds.”

Amulet wants to be the first protocol to offer GameFi and nonfungible token (NFT) asset insurance, metaverse life and property insurance and other protections for the rising Web3 world. 

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Binance CEO Changpeng “CZ” Zhao has given his take on the ongoing crisis at Terraform Labs, which has resulted in both LUNA and UST crashing.

Specifically, CZ said that a hardforking to TERRA2 as a way of providing a new iteration of LUNA to holders as per their pre-crash wallet balances “won’t work.”

Continuing, the crypto billionaire said: “Reducing supply should be done via burn, not fork at an old date, and abandon everyone who tried to rescue the coin. I don’t own any LUNA or UST either. Just commenting.”

CZ noted that a viable alternative would be for Terra to use its Bitcoin reserves to buy back UST in a bid to return the algorithmic stable coin to its pegging with the US Dollar.

READ: El Salvador doubles down on Bitcoin after BTC price slides to $30,000

He also moved to quash speculation that Binance took part in LUNA’s second round of fundraising, and insisted that the company doesn’t own any UST.

“I need to address falsehoods circulating in crypto twitter. Binance did not participate in the 2nd round of Luna’s fund raising nor did we acquire any UST,” CZ said.

“Binance Labs invested $3m USD in Terra (the layer 0 blockchain) in 2018. UST came much later after our initial investment.”

He went on to emphasise that Binance Labs has “invested in hundreds of projects over the last 4 years, including exchange competitors and many competing blockchains.

“A few of them have fallen by the wayside, but a few have been extremely successful. That’s how investments work.”

KyotoProtocol.io is the world’s first decentralised multilayer carbon credit finance protocol. The project’s technology improves the slow and outdated carbon credit industry by implementing a host of solutions that utilise smart contracts on a secure, fully transparent blockchain ledger, creating the ultimate standard for the carbon credit industry.

Kyoto Protocol’s mission is to make the carbon credit industry more transparent, efficient, accessible and profitable, making a real difference in the fight against climate change and the users’ wallets. The project’s technology makes it profitable for both retail and institutional investors to create certified offset whilst staking funds or holding its own native Kyoto Token.

The Kyoto Token fair launch is an exciting way to own a share in the project’s network of decentralised applications. The token distribution offers an eye-watering Fixed APY of 916,474% to Kyoto Token’s most loyal holders. To find out more about the fair launch, consider joining Kyoto Protocol’s Telegram channel here.

Why Is This Important?

Globally as a collective, humanity is falling behind carbon offset targets. These targets are set by the governments as a guideline to stop catastrophic damage to the planet, which will directly affect the sustainability of human life. Humanity is less than ten years away from getting to a point of no return. Putting that into a scary perspective, humans only have 0.005% equivalent of their total time on Earth to fix 100% of the damages it has caused. The only way to do this securely and fully understand the data metrics is on a transparent blockchain ledger. If used correctly, carbon credits will become the most powerful tool humanity can create to combat climate change.

How Does KyotoProtocol.Io Improve The Carbon Offset Industry?

KyotoProtocol.io is not a single piece of technology but a network of decentralised cross chain applications ran on a fully transparent blockchain ledger, specifically designed to improve the dangerously lagging carbon offset industry. Kyoto Protocol’s technology solutions improve every aspect of the carbon credit industry such as accessibility, transparency and liquidity. The team strongly believes that carbon credit offsetting should occur on a blockchain ledger with certified carbon credits as synthetic assets only. KyotoProtocol.io technology not only creates a new planet saving standard for the carbon credit industry but a profitable one for Kyoto users by using the latest web3 de-fi technology, the possibilities in which to create lucrative ways of generating certified carbon credits broadens massively.

Kyoto Protocol Team And Initial Partnerships.

The team at KyotoProtocol.io brings core experience and stability to the project’s business model and have a direct reach to many of the overlapping sectors that the protocol serves. Collectively the team has raised, traded and secured over 3.5 billion dollars in cryptocurrency, renewable energy and fundraising.

The Kyoto Team understands that being transparent with investors is integral to success and that Doxxing is a key differentiator in building trust. The team plans to fully dox prior to announcing the Kyoto Token fair launch date, to reassure its community and to demonstrate that it has nothing to hide.

The team has already secured a group of very credible and innovative partners who believe in the project’s vision in making a difference, together it will deliver something great to the community, planet and the user’s wallet. Collectively KyotoProtocol.io and its partnership ecosystem will work together to bring its vision into fruition.

Read about Kyoto’s planet-saving partnership with CUDOS here.

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Since opening its doors in 2014, E11EVEN Miami has become the world’s hottest nightclub and the ultimate playground for the stars. Every weekend is a “who’s who” of celebrities, music industry legends, world-renowned DJs, and entertainment moguls. In 2019, the landmark destination established itself as the highest-grossing nightclub per square foot globally, further cementing its presence as one of the most sought-after clubs in the world.

E11EVEN evolved from nightlife into lifestyle with the launch of E11EVEN Hotel & Residences, E11EVEN Vodka, E11EVEN Life apparel, and a major restaurant to be announced later this year.

The E11EVEN name is already well known in the crypto world. In April 2021, E11EVEN Miami became the first major nightclub in the United States to accept cryptocurrency and has since processed over $5 Million in transactions.

In June 2021, E11EVEN Hotel & Residences became the first IRL real estate in the world to accept APE and other cryptocurrencies as payment. In December 2021, E11EVEN got into the NFT space when they purchased Bored Ape #11… and now – in another first – they are disrupting and reimagining the entertainment landscape with the creation of E11EVEN Crypto and their inaugural offering: the 11 Captain’s Club NFT genesis collection. 

E11EVEN has partnered up with Horizen Labs (APE) and several of the biggest names in the industry to create an exclusive NFT collection which drops on May 25. 

The 11 Captain’s Club is unique because it is a utility-filled token-gated passport to the entire E11EVEN ecosystem with real-world benefits: IRL meets URL. The genesis collection is an exclusive series of 1,111 NFTs on the Ethereum blockchain, featuring artwork inspired by E11EVEN’s coveted hats, for 3 ETH each. 

In addition to Web3 utility, the concentrated collection focuses on the importance and exclusivity that comes with being a Captain and its IRL utilities including first-access to all E11EVEN NFT projects and partnerships, priority pass to exclusive IRL events across the entire E11EVEN ecosystem, Captains-Only events, access to member-only areas of the Discord, and limited-edition product releases including E11EVEN apparel, vodka and more. Additional utilities are already underway.

With the support of major web3 influencers, developers, celebrities, and business leaders, E11EVEN Crypto is eager to explore its broader digital future into the next decade.

Get your spot on the 11 Captain’s Club Allow-list with this secret link for an opportunity to mint on May 24 before the public sale on May 25.

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Madrid, Spain, May 12, 2022 — Borderless Capital has increased its investment in Spanish fintech company Bnext to $10 million with a recent $4.5-million investment.

What this means for Bnext

The latest investment will help further Bnext’s goal to continue introducing bleeding-edge financial technologies in 2022 and beyond. Borderless Capital will provide financial support and offer invaluable expertise in the Algorand blockchain ecosystem to help Bnext accelerate the development of its numerous financial products and drive the adoption of decentralized finance technology on a global scale.

Algorand and Bnext

The Algorand blockchain offers several technological benefits, including faster transaction-speed efficiency, lower fees, no mining requirements and a permissionless pure proof-of-stake consensus mechanism, to name a few. Bnext has already leveraged Algorand to power its wallet app and is developing more use cases for the future.

Private IDO for the Algorand community 

To show support for the Algorand community, Bnext will be reappropriating 350 million Bnext Token (B3X) for a private IDO — initial decentralized exchange (DEX) offering — launching soon on a leading Algorand DEX. These tokens represent all that remains from the second phase of B3X’s initial token sale.

In addition to the IDO allocation, all Algorand community members that participate and hold tokens on the DEX will have priority access to new functionalities and other benefits. Information on the IDO will be released on Bnext’s social media channels in the coming weeks.

Bnext public token sale raises more than $5.2M

Bnext partially closed its public token sale on March 31, successfully raising more than 5 million euros ($5.2 million). The token sale spanned two seven-day phases in March; phase one saw participants buy 360 million B3X utility tokens in the first few hours, and another 15 million were purchased in phase two. The remaining B3X tokens from phase two, after the expected IDO, will be burnt to increase liquidity.

The token sale has collectively raised 11 million euros ($11.43 million), with Bnext reserving the last remaining tokens for a private IDO for the Algorand community.

B3X Token utility

Bnext Token is a utility token underpinning the entire Bnext ecosystem. The platform’s mission is to bring financial freedom to a global community of banked and unbanked members through expanded access to a growing array of next-generation financial tools and remain committed to constantly improving the user experience.

The continued support from Borderless Capital will help Bnext strengthen its growing community and bring more value to users with international expansion. Upcoming products on the Bnext roadmap include a robust reward system, a diversified marketplace, its crypto wallet app with buying and selling conditions, international money transfers, user discounts and more.

To learn more about how more people are taking back full control of their finances, visit the Bnext website.

About Bnext

Bnext is one of the first Spanish fintech giants and a pioneer in offering an alternative to traditional banking. The company’s mission is to make it easier for people to control their money to live in a freer, simpler and more intelligent way.

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A luxury spa and resort hotel in Limassol Parklane gathered the brightest and most influential minds in the crypto space for Blockchain Fest 2022 on May 4 and 5. 

Parklane became a meeting point for the world’s most disruptive fintech trends, where the event gathered over 700 entrepreneurs, traders, investors, developers and industry enthusiasts.

There were six panels, numerous on-site interviews, an expert conference program and transformational workshops exploring the transforming role of blockchain, GameFi, NFT and more. Renowned speakers from blockchain and digital asset companies shared their stories and insights on the market and its prospects.

The honor of being the most debated topic belonged to NFTs and GameFi. A discussion of brands in the Metaverse and greater customer experience through the NFT minting platform Block.co were headed by its CEO Alexis Nicolaou and chief operating officer George Agathangelou, capturing most of the attention at the conference. The NFT and GameFi theme was extended by iLogos founder and chairman Alexander Goldybin, and practical approaches to investing, with emphasis on DeFi and market-neutral (non-speculative) strategies, were exhaustively examined by DCM Group director Alexander Douedari. VeChain Tech’s ecosystem manager Dimitris Neocleous discussed NFTs beyond the hype, while crypto entrepreneur Eloisa Marchesoni added a fresh perspective on NFTs and gamification as the future of community engagement within Web3. 

Advisory and head of financial regulation at law firm AGP, Mihaela Grigoriou, provided a speech to the Blockchain Fest about the regulation of DeFi and CeFi, while European Digital Assets Exchange CEO Mauro Andriotto shared state-of-the-art security token legislation.

The culmination of the event started on the second day between 12:20 pm and 1:00 pm with the panel discussion “Banking in 2022: Banks vs. Crypto.” University of Nicosia’s institutional partnerships manager Nick Assimentos, Bank of Cyprus director of the group compliance division Marios Skandalis and Invest Cyprus deputy director general and head of the HQ unit Marios Tannousis discussed patterns of crypto’s evolution process, coming to the conclusion that while banks are not against crypto, their hands are tied by external regulations. 

A new addition to the program was brought by founder and CEO of Christiana Aristidou LLC, Christiana Aristidou, introducing the topic of how tokens are transforming real estate in Cyprus.

Blockchain Fest 2022 strengthened its reputation as the preeminent crypto event in Cyprus by bringing industry trends and cutting-edge news. 

The event serves as a pivotal point for the convergence of modern finance, fintech, blockchain and digital assets, ushering in a new era of business and economic growth at the European financial hub for all crypto lovers.

For more information and latest updates, follow the event’s social media:

Facebook | LinkedIn | Telegram | Twitter

Blockchain Fest 2022 was produced by Finexpo, organizer of financial conferences, forums, summits, exhibitions, shows, festivals, fairs and awards since 2002, with a community of over 100,000 crypto and finance participants.   

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Disclaimer: This is a press release; the Crypto Intelligence editorial team was not involved in its preparation, and we do not necessarily endorse the project(s) mentioned above.

Origyn, the Swiss foundation dedicated to identifying, authenticating and unlocking the powers of ownership for objects of value, has announced a partnership with WatchBox, the global leader in collectible luxury timepieces.

Origyn and WatchBox will collaborate to produce utility nonfungible tokens for the ownership of luxury watches to become digitally tradable, unlocking secondary market liquidity. Buyers with NFTs can fully trust in the watch’s authenticity and trade its digital ownership, making secondary market trading faster and safer for all parties. The NFTs also solve the issue of counterfeit watches by acting as blockchain-based certificates of authenticity purchases on WatchBox’s platform.

Daniel Haudenschild, CEO of Origyn, said, “Once an object has a guaranteed certificate, the NFT becomes highly tradable. Pushed by consumer trends such as reuse and upcycling, the secondary market in luxury watches has exploded and is expected to reach $29 to $32 billion by 2025. Authentication NFTs will make secondary market trading faster and safer for buyers and sellers alike. WatchBox is a leader in collectible watches that are guaranteed to be authentic and collector quality, and we are pleased to work with them to provide a digital guarantee of their services.”

Origyn’s NFTs will provide consumers with guaranteed digital certificates of authenticity for luxury watches purchased on WatchBox’s platform and access to services such as insurance, digital provenance, concierge service and access to exclusive communities. The NFTs will be rolled out this summer. 

“Discerning collectors have long trusted WatchBox to purchase authentic, collectible watches, and our partnership with Origyn will extend this proof of authenticity to the blockchain,” said Justin Reis, CEO of WatchBox. “We are excited to provide our clients and community with access to a Web3 authenticity certificate, exclusive blockchain-native content and services and the ability to digitally trade watches through our partnership with Origyn.”

Origyn is the largest project on the Internet Computer Protocol (ICP) developed by The DFinity Foundation, one of the fastest-growing blockchains globally. Origyn uses computer vision, machine learning and decentralized technology to certify authenticated objects. Its computer vision and artificial intelligence can pick up details the human eye can’t see, and each watch is given a unique biometric fingerprint from this process. Once this unique biometric fingerprint has been created, an NFT containing all of this information is minted. 

The partnership will solve the problem of genuine luxury goods being swapped with counterfeits by constantly controlling the authenticity during its overall lifespan. The Swiss watch industry alone loses $2 billion annually to counterfeits, and more than 40 million counterfeit luxury watches are produced and sold annually. More than 37% of luxury end-consumers in France have bought a counterfeit product without knowing it. This issue can cause uncertainty in the second-hand market, with many would-be buyers fearful of being duped. This leads to an illiquid market in addition to diminishing consumer loyalty and brand equity. 

Since its 2017 founding, WatchBox has been a trusted destination for watches with guaranteed authenticity and will be a trusted node in the Origyn network. Watches certified as authentic by WatchBox will be issued a digital certificate on the Origyn platform that can be validated through the biometrics of the watch itself, using advanced computer imaging and artificial intelligence.

The global leader in collectible watches, WatchBox has generated more than $1 billion in revenue and raised $260 million from investors, including Michael Jordan, Milwaukee Bucks MVP Giannis Antetokounmpo, Milwaukee Bucks owner Marc Lasry, Phoenix Suns stars Chris Paul and Devin Booker, Bill Ackman and more.

Origyn recently raised $20 million and is backed by Table Management, Polychain Capital, Bali Venture Partners, Vectr Ventures, Carter Reum, Divyank Turakhia, Paris Hilton and more. The foundation’s utility token, OGY, is set to become publicly tradable in the second quarter of 2022. 

About Origyn

The Swiss nonprofit foundation ORIGYN uses intelligent technology, including computer vision and artificial intelligence, on decentralized computing infrastructure to identify, authenticate and unlock the powers of ownership for objects of value. As the first digital certification platform built on ICP, Origyn and its verticals generate new forms of value for some of the largest consumer asset classes worldwide, including art, collectibles, digital media and luxury goods. Founded in Neuchâtel, Switzerland, in October of 2020, Origyn operates globally in major technology and blockchain hubs worldwide. For more information, visit origyn.ch. 

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About WatchBox

WatchBox is the world’s leading platform for collectible luxury timepieces, founded in 2017 by Justin Reis, Tay Liam Wee and Danny Govberg. Offering the largest collection of pristine condition luxury watches, authenticated, and backed by a global warranty, WatchBox is the watch collector’s ultimate destination. Members of the WatchBox collector community receive white-glove concierge service online or at any of its global locations in the United States, Hong Kong, Singapore, Switzerland and Dubai, with additional locations on the way. As a technology-first platform and pioneer in media-driven commerce, WatchBox produces and distributes original video content daily, with a growing library that includes market insights, collector interviews and thousands of watch reviews.

Learn more at thewatchbox.com.

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Disclaimer: This is a press release; the Crypto Intelligence editorial team was not involved in its preparation, and we do not necessarily endorse the project(s) mentioned above.

Gate.io, one of the oldest cryptocurrency exchanges in the world, has become the second-largest crypto exchange by trading volume according to data from CoinGecko, securing its spot as one of the leading exchanges worldwide.

Founded in 2013, Gate.io offers a wide range of products, including Startup, which allows users to invest in projects early on; NFT Magic Box, which allows the creation and trading of nonfungible tokens (NFTs); GateChain, its native blockchain ecosystem and Gate Ventures, its venture capital-investment division.

Gate.io’s wide range of products and services has led to a rise in the platform’s popularity, with the platform surpassing 10 million users in early 2022.

“This is another remarkable milestone for us at Gate.io as we approach our ninth birthday. Our unwavering commitment to providing our users with a safe and secure platform, with a comprehensive suite of products and services, remains the key to our exponential growth over the last couple of years, and we have no plans on slowing down,” said Marie Tatibouet, chief marketing officer of Gate.io. 

The company offers more than 1,400 tradable cryptocurrencies on its spot market and has seen its daily trading volume surpass $3 billion. Gate.io prides itself on having the widest variety of tradable assets of any leading exchange.

About Gate.io

Established in 2013, Gate.io is one of the oldest leading cryptocurrency exchanges. It offers many leading digital assets and has more than 10 million registered users worldwide. It is consistently ranked as one of the top-10 cryptocurrency exchanges in liquidity and trading volume on CoinGecko and has been verified by the Blockchain Transparency Institute (BTI). Additionally, Gate.io has been given a rating of 4.5 by Forbes Advisor, making it one of the Best Crypto Exchanges in 2021. Besides the main exchange, Gate.io also offers other services such as decentralized finance, research and analytics, venture capital investments, wallet services and more.

As a disclaimer, Gate.io may not provide its full scale of services in certain markets and jurisdictions and may restrict or prohibit the use of all or a portion of the services in compliance with local regulations. For the latest list of all the restricted locations, please read the user agreement Section II Eligibility at gate.io/docs/agreement.pdf.

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Disclaimer: This is a press release; the Crypto Intelligence editorial team was not involved in its preparation, and we do not necessarily endorse the project(s) mentioned above.