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Tether ‘Transparency Is Needed’ Following Terra’s UST Collapse: Analyst

Tether

Tether1

Alexandre Lores, director of blockchain market research at Quantum Economics, said stablecoin issuers like Tether, the issuer of USDT, the largest of the stablecoins, should be providing external audits of underlying assets.

Tether2

“I think more transparency is needed in terms of showing what they [Tether] actually hold on the balance sheet,” Lores said on CoinDesk TV’s “First Mover” program.

Tether3

USDT, which is supposed to be pegged 1:1 with the value of the U.S. dollar, is hosted on blockchains including Bitcoin, Ethereum and Tron. USDT most recently had a $10 billion drop in its circulating supply, placing its market capitalization at just above $73 million, according to CoinGecko.

As questions linger about the feasibility and safety of stablecoins in general, USDT’s issuer has had past regulatory run-ins. In October it was fined for more than $42 million by the Commodity Futures Trading Commission (CFTC) for allegedly violating the Commodity Exchange Act (CEA) and CFTC regulations. According to the CFTC, Tether’s stablecoins were not fully backed at all times. Tether and a sister company also paid an $18.5 million settlement in February 2021 to close an investigation by the New York Attorney General’s office.

Now, as Tether looks to reassure investors while meeting its legal obligations, its latest attestation report, as of March 31, reveals that $286 million of Tether’s assets were being held in non-U.S. Treasury bonds with a maturity of less than 180 days. That revelation was not included in its previous December report.

Lores said Tether’s opaqueness will remain an issue because markets are down and investors are moving to preserve their assets. He said that could change if investors grow more interested in seeking greater profits.

“It’s a short-term change as long as the bear markets continue, which I personally think is going to happen for at least the next year,” Lores said.

He added that backing a stablecoin with a volatile asset makes no sense at all and “as long as they [Tether] have not provided transparent audits of their treasury in real time, it’s going to remain a problem,” he said.

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質押

DEFI-WHERE IS CAKE DEFI HEADING?

DEFI

DEFI-Decentralized finance is taking the world by storm as the digital asset industry evolves with new and reliable products for savings and investments within the crypto ecosystem.

 A CENTRALIZED PLATFORM FOR DEFI APPS AND SERVICES

DEFI

DeFi taking over the world of finance or operating in parallel with TradFi in the years to come?

This very much depends on where DeFiis headed. If DeFi becomes regulated, then it has a good chance to break out of its current niche. DeFialso isn’t for the everyday investor, especially one that is not crypto-savvy.  This is also where Cake DeFi comes in – we offer a centralized platform for anyone to access DeFiapplications and services. In the long run, if those two obstacles to mass adoption can be overcome then DeFihas the potential to be a disruptive force to the legacy financial system.

For those who don’t know, what is the difference between lending, freezer, liquidity mining, and staking, and what is most popular among investors?

Cake DeFi gives you three options to generate cash flow and a passive income: Lending, Staking and Liquidity Mining. Lending is the act of lending your cryptocurrencies in exchange for a guaranteed return of up to 7%. Our most popular product is Staking  as it is relatively low risk, offers competitive returns, with low barriers to entry and understanding. Staking validates transactions on a PoS blockchain and customers get rewards in return. Cake DeFi operates fully transparent masternode pools that enables and allows to currently earn staking yields of around 30% to 40% that gets paid out twice a day (every 12 hours). Liquidity Mining is the process of providing liquidity to a liquidity pool to facilitate trades on a Decentralized Exchange (DEX). Users have to provide a pair of cryptocurrencies in order to reap Liquidity Mining rewards, which are directly distributed by the blockchain

How much has the business grown?

Cake DeFi has, at last count, over 600,000 customers in 191 countries. This is over ten times the number of customers we had at the beginning of 2021. In 2021, we paid out US$230M in rewards to our customers. In 2021 Q4 alone, we paid out U$74M. Cake DeFi only makes money when our customers make money, as we take a small fee from the rewards they earn. As a startup that is under 3 years, we are very strong financially – we are cash flow positive and have a financial runway of at least 4 years. 

Cake DeFi launched a $100 million corporate venture arm. How did it come about and how can startups apply?

In order to grow and innovate, we have to leverage and engage with external technologies and startups. In the long run, this leads to the disruptive products Cake DeFi is known for. We have therefore decided to commit US$100M for the next two years to invest in and work with startups in new areas of disruption.

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區塊鏈遊戲

GameFi: Is This Another Crypto Investor Boondoggle Or What?

GameFi

GameFi

yet another investable sector in the crypto universe. Is it for real? Yes. Yes, it is.Since the fall of the ICO market around 2017, and a roughly two-year pause in the crypto hype, the cryptocurrency investing world had a back-to-the-drawing board moment. Developers and tech entrepreneurs created new sectors to get investors interested. If the ICO market is dead, and if the cryptocurrency market was ever going to be more than Bitcoin
BTCand few blockchain platforms like Ethereum, a whole new menu of risk assets had to be created. Decentralized finance and yield farming was one. The new blockchain protocols are another.And over the last couple of years

It’s not just for gamers

of course. The investable universe would be too small if only gamers were involved. But there are enough blockchain games out there and supporting projects in the non-fungible token space that give investors a new place to gamble those U.S. dollar coins in their Coinbase account.GameFi is not an investor boondoggle anymore than cannabis ETFs, or venture capital funds. Some projects will be failures, no different than any new company.This is a real market, with billions at play, designed primarily around the massive rise of blockchain-based video games in the new Web 3.0 universe (or simply Web3), where developers can go in and create their own worlds. They make money that way. If you’re new here, they call it play-to-earn.GameFi’s market cap is over $11.6 billion, with daily trading volume of around $2 billion, though this number is in fast decline due to the general sell-off in the market.

This is GameFi in a nutshell.

Imagine this: you’re playing Minecraft. You can create your own world and characters inside Minecraft through a creator’s engine. You sell them. This is GameFi in a nutshell.The game matters. “I should feel compelled and hooked to come back to the game because I enjoy playing it. It shouldn’t be only because I can earn tokens,” says Arunkumar Krishnakumar Chief Growth Officer at Bullieverse in London. They have their own creator’s engine for serious gamers who want to build their own worlds within the Bullieverse game can monetize what they’ve created.“As a gaming platform, an immersive experience allows gamers to be more invested in the game. As they feel more invested, they tend to promote the game and become ambassadors of the game,” he says. “This has definitely been our case.”There are about 3 billion online gamers across the world with Asia taking 55% of that market. By 2024 the mobile gaming industry is expected to generate $116 billion from gamers spending online.There are 2.5 billion online gamers in the traditional Web 2.0 world compared to only around 5 million estimated to be in the Web3 world. Due to the developer and consumer incentive mechanisms that Web3 offers, the gamer base for Web3 is seen rising fast. Web3 games are still behind the games we are all used to on X Box in terms of gaming experience, but that will change and if GameFi is part of that, then therein lies the growth story.

Silks is an online horse racing metaverse

GameFi

“GameFi at a high level is the convergence of videogaming, gambling and investing into a new form of entertainment,” says Dan Nissanoff, co-founder, and CEO of Silks in Florida. Silks is an online horse racing metaverse, GameFi style. “We are building a derivative play-to-earn metaverse that mirrors the real world of thoroughbred horseracing. Our vision is to deliver the exact economic experience of owning a racehorse in real life…only in the metaverse. When your horse wins a $100 grand prize purse in real life, the owner of that horse NFT wins the same.”

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NFT

NFTs-Trading Volumes Spike on Azuki NFTs After Creator Admits to Failed Projects

NFTs

What are Azuki NFTs? 

NFTs-Azuki is a digital brand mostly associated with its collection of 10,000 avatars

Who’s Behind Azuki NFTs?

Behind Azuki NFTs is Churi Labs, a startup composed of several members with vast experience in crypto, art, and gaming, all of them joining forces to bring a recognizable brand to the metaverse.

Azuki NFT Floor Price: How it Started and How it Goes

The Azuki collection debuted on January 12, 2022, with an initial release of 8,700 avatars — each priced at $3,400 at that time.The collection sold out in a matter of minutes, registering about $30 million in sales. After the public sale, the creators held a private offering in which they sold sets of Azuki NFTs for another $2 million.

Why Are Azukies So Popular?

There are plenty of reasons why Azuki became a blue chip in the cryptocurrency community in such a quick fashion. Number one, in the eyes of most people, is art. It occupied an important niche within the field of NFTs – anime – and it set the standard for hundreds of projects after it. The Avatars are aesthetically pleasant, and in the words of Zagabond – it just “resonates” with the audience, especially in Asia, where anime is a lot more popular.

Creator Admits to Failed Projects

An anime-inspired NFT collection of avatars, Azuki, had been serving up some stiff competition among industry-leading collections such as Bored Ape Yacht Club and Clone X since the project’s January launch. The digital collectibles, whose prices are plummeting, are now at the forefront of the latest NFT (non-fungible token) controversy.Azuki’s founder, known as Zagabond, published a blog post about his history prior to launching Azuki, revealing he was behind three NFT collections — CryptoPhunks, Tendies and CryptoZunks — that were abandoned by their founders. In response, many Twitter users dubbed the projects rug pulls or scams that were never intended to be built.

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Categories
比特幣

Huobi Global Celebrates Bitcoin Pizza Day with a 50 BTC Prize Pool

Huobi Global, one of the world’s leading digital asset exchanges, is announcing a special Primebox promotion to celebrate Bitcoin Pizza Day. From May 19 to May 29, users can participate in the new Bitcoin Pizza Day Primebox promotion to win a share of the 50 BTC prize pool and additional NFT rewards.

Bitcoin

Bitcoin Pizza Day

was celebrated to commemorate an early cryptocurrency enthusiast who purchased two pizzas using Bitcoins on May 22, 2010 — an event that became widely and fondly known as the world’s first physical Bitcoin transaction. Since then, the value of the blockchain as represented by Bitcoin has gained recognition worldwide.. On this day, various events are held to commemorate the first physical Bitcoin transaction and the role the Blockchain is expected to play in the near future.In the upcoming Bitcoin Pizza Day Primebox promotion, users can complete tasks on the event page to collect five different ingredient cards, namely “flour”, “cheese”, “veggie”, “meat” and “seasoning”, to form  a Bitcoin Pizza and win prizes  such as a Rewards Hub badge, Huobi Earn APY booster coupon, Pizza Day NFT, point card, Primelist allocation or CandyDrop allocation. Users can also earn cards by completing tasks in Rewards Hub, Invite Friends, CandyDrop, Primelist or Huobi Earn.  These ingredient cards can be gifted to a friend via their UID/DID numbers.

Primebox BTC shards

can be found and collected on the event page. 10 collected shards can be exchanged for one random ingredient card. Users who have not claimed their Decentralized Identity (DID) can claim one to win a Pizza Day NFT, which can be used as an avatar on Huobi. All Pizza Day NFTs are minted on the HECO chain and can be traded on the Huobi NFT platform.

holders of any one of the following NFT collections

Prime Voyager, Women With Crypto, Hanazawa Kana, Easter Bunny, Holy Crab, Ula, and Pizza Day, are entitled to additional privileges. By using the NFT as an avatar, users can earn extra ingredient cards daily according to the NFT’s rarity tier. The number of extra cards rewarded for a Pizza Day NFT will be doubled for Prime Voyager, Women With Crypto, Hanazawa Kana, Easter Bunny Holy Crab, and Ula collections. The number of extra cards rewarded for a rare NFT is also double that of a regular NFT.

CandyDrop

the token airdrop event that Huobi launched to incentivize active traders also provides  more ways for users to  participate in the Bitcoin Pizza day event
1. When users register for  CandyDrop events, they get chances to obtain ingredient cards. Having five different ingredient cards will allow  user to bake a Bitcoin Pizza.
2. BTC shards will appear randomly at the CandyDrop page. Users can collect 10 shards to exchange for an ingredient card.
3. The Primebox rewards include CandyDrop sure-win tickets and double-chance coupons.

Bitcoin

From 12:00 (UTC) on May 19 to 12:00 (UTC) on May 26, Huobi Earn, a program dedicated to giving users high APYs for their deposits, will release a limited period deposit plan which enables users to get higher interest rates than usual. During this period, users who perform a certain number of trades will also have the opportunity to obtain Primebox cards or earn coupons that provide interest rate boosts for deposits by up to 8%.

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