Blockchain

Key Takeaways Enjin placed QR codes on social media ads allowing users to download a free NFT. All 50,000 NFTs were claimed within 48 hours, attracting 38,000 new Enijn Wallet users. The campaign highlights the disruptive potential of NFTs in the marketing industry. Share this article Enjin placed QR codes in social media advertisements to distribute 50,000 tokenized digital art pieces.  Enjin Rewards Social Media Users  Enjin organized a social media campaign to airdrop 50,000 NFTs over the weekend.  The team behind the NFT ecosystem took out a series of digital adverts for a marketing campaign called “MyFirstNFT.” Each ad featured a QR code, which could be scanned with the Enjin Wallet app to gain access to a free NFT. The ads went out on Reddit, Instagram, Facebook, and Twitter with hopes of attracting more people into the NFT space.  NFTs, otherwise known as non-fungible tokens, are tokenized assets that offer provable ownership and scarcity by recording data for the asset on the blockchain. A wave of celebrities, musicians, viral meme artists, and other creators experimenting with the technology has helped the space explode in recent months, introducing many to the possibilities of tokenized assets.  When users scanned the QR code in the Enjin adverts, they could reserve the NFT on a browser page. To claim the reservation, they had to download the Enjin Wallet app. The 50,000 digital art pieces were claimed within 48 hours, with 38,000 of the recipients being Enjin Wallet users. Maxim Blagov, CEO at Enjin, commented on how powerful NFTs could be when used as a marketing tool. In a press release, he said:  “Marketing campaigns are most effective when they interact with the audience, giving instead of demanding. Traditionally, giving away free physical items is expensive, while digital items require adding friction to prevent abuse. NFTs are revolutionary for the marketing industry: they combine the simplicity and low cost of digital campaigns with the engagement of physical marketing.” The campaign showcased what the project has called Enjin Beam technology, which helps companies “beam” NFTs to users who view a QR code. A company could use Enjin Beam, for example, to promote new products or airdrop digital merchandise.  The 50,000 NFTs were distributed at no cost on Enjin’s Proof-of-Authority jumpnet blockchain. Most NFTs are minted on Ethereum today, which is known for its high gas fees. While the second-ranked blockchain has Layer 2 solutions and Proof-of-Stake on the horizon, the Enjin platform has already started to attract various games, applications, and NFT-focussed projects. Enjin Beam, for example, has been used by Microsoft. The technology company has adopted the technology to reward fans.   Disclosure: At the time of writing, the author of this feature owned ETH, ETH2X-FLI, and several other cryptocurrencies.  Share this article The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information. You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities. See full terms and conditions. Enjin Launches New NFT Blockchain on Polkadot The Polkadot ecosystem welcomes a new NFT network launched by Enjin. The new platform will foster blockchain interoperability, increasing the liquidity of both protocols.  Enjin Launches NFT Blockchain on Polkadot… What Are Non-Fungible Tokens (NFTs)? Tokenization is well-suited for commodities like fiat currencies, gold, and physical land. A fungible asset’s representation on blockchain makes commodities tradable 24/7 via borderless and frictionless transactions. Fungible goods are… Enjin Attracts Binance and Microsoft to NFT Project Enjin has revealed that more than 50 firms are using its JumpNet blockchain, according to an announcement on the firm’s website. What Is JumpNet? JumpNet is a blockchain designed to… Enjin Launches NFTs for Microsoft Azure and Minecraft In partnership with Enjin, Microsoft has announced Azure Space Mystery, a new NFT-based educational game for Azure cloud community members only.  In the game, participants are given coding challenges and,…

Key Takeaways The Polygon team has launched its long-awaited software development kit (SDK). The Polygon SDK will enable developers to deploy their own EVM-compatible blockchains on the network. The launch pushes forward Polygon’s vision of creating a multi-chain ecosystem for Ethereum. Share this article Polygon, a scaling and infrastructure development on Ethereum, has launched the first version of its highly-anticipated Polygon software development kit (SDK). Polygon SDK Goes Live Polygon has released its software development kit (SDK). The SDK is a set of pluggable modules for developers to quickly deploy Ethereum-compatible chains. Previously known as Matic, Polygon runs a scalable network that is fully compatible with the Ethereum Virtual Machine (EVM). It acts as an Ethereum “commit chain,” processing transactions at a higher speed and lower cost than Ethereum mainnet.  Speaking of the SDK update, Polygon co-founder Sandeep Nailwal said: “The release of Polygon SDK is an important addition to one of the most exciting periods in Ethereum’s history.”  The first version of the SDK allows developers to deploy stand-alone sidechains with independent validators and security. The standalone chains will be plugged into the Matic Proof-of-Stake chain and have interoperability with Ethereum through the Matic Bridge.  In future updates, the SDK will support Layer 2 chains that will be dependent on Ethereum for security. Layer 2 chains will be able to leverage scaling technologies like Optimistic Rollups, zk-Rollups, and Plasma. SDK users will have the choice between a stand-alone or secured chain. According to Polygon, the stand-alone option may be preferable for projects with large communities that can run secure validator networks. On the other hand, smaller projects may want to remain closely tied to Ethereum’s security model. The SDK launch will further add value to one of crypto’s fastest-growing ecosystems. Polygon has about 1 million unique users across more than 350 decentralized applications. The latest update pushes forward Polygon’s vision of creating a multi-chain ecosystem for Ethereum. As per the team, there are also plans to allow Polygon chains to be able to interact with one another, creating a network the team refers to as “Polkadot on Ethereum” (unlike Ethereum, Polkadot uses parachains that are connected to a Relay Chain). Nailwal confirmed that Polygon is hoping to help make Ethereum interoperable with other chains. He said: “With advanced Layer 2 solutions, Ethereum 2.0 all coming online now or soon, the need for a comprehensive interoperability framework is stronger than ever. With the Polygon SDK, we are solving pressing needs for Ethereum’s multi-chain future, including ease of deployment and inter-L2 communication.”  Polygon has seen explosive growth in the last few quarters. Leading DeFi projects like Aave, SushiSwap, Curve, 1inch Network, and others have launched on the network in recent months, attracting billions of dollars in liquidity to the network. In recent weeks, yield farming on Polygon has become popular among DeFi users looking to put their crypto assets to work.  Polygon SDK is designed to support pluggable consensus algorithms based on the needs of developers. Currently, it supports Ethereum’s Proof-of-Work system, Clique PoA, and IBFT. In the future, the team plans to support other widely used algorithms such as HotStuff and Tendermint. With the increase in activity Polygon has seen recently, the MATIC token has also soared. It quickly rebounded from last weekend’s crypto crash, trading at $2.23 today. With a $13.66 billion market cap, Polygon is currently the 12th largest cryptocurrency project. Share this article The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information. You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities. See full terms and conditions. Behind Polygon’s Mission to Become the “AWS of Ethereum… Ethereum’s exorbitant gas fees have made headlines all year long. But for every bottleneck lies a business. And one fast-rising star in the scalability race is Polygon (previously Matic), a… Yield Farmers are Migrating to Polygon Polygon offers a similar yield farming experience to Ethereum mainnet at a fraction of the cost. Key metrics show that DeFi power users are starting to migrate to the network…. Polygon Transactions Explode After DeFi Expansion Polygon’s on-chain activity suggests exponential growth over the last month, largely driven by DeFi projects expanding to the platform. Polygon Experiences DeFi Growth  As Ethereum faces scaling issues and high… What Are Non-Fungible Tokens (NFTs)? Tokenization is well-suited for commodities like fiat currencies, gold, and physical land. A fungible asset’s representation on blockchain makes commodities tradable 24/7 via borderless and frictionless transactions. Fungible goods are…

Key Takeaways Indonesia is working on a central bank digital currency, Governor Perry Warjiyo has announced. Transaction volumes on digital banking platforms has surged since the start of the pandemic. The U.S. and a number of other countries are also in the process of researching CBDCs. Share this article Indonesia has seen a strong increase in digital banking transactions during the Covid crisis. Now, the country will capitalize on its citizens’ growing interest in mobile banking systems by launching its own digital token. Modernizing Money Indonesia is launching a central bank digital currency. Governor Perry Warjiyo announced the move in a streamed news conference Tuesday, revealing that creating a digital currency was one of the Indonesian government’s top priorities. The digital rupiah will capitalize on the growing interest in digital banking platforms, which have seen a 60% increase in transaction frequency since the start of the pandemic. Central bank digital currencies, known more commonly as CBDCs, have become a hotter topic since the start of the pandemic, with governments worldwide looking for potential ways to offer a replacement to cash. Bank Indonesia data showed that more than 570 million digital transactions were made in April, highlighting Indonesia’s declining interest in modern alternatives to cash. Warjiyo said: “Bank Indonesia plans in the future to issue a central bank digital currency, digital rupiah… as a legal digital payment instrument in Indonesia” The Indonesian government has not provided a timeline yet for the project, nor has it specified what blockchain it would use. Indonesia could choose to use a private blockchain like China’s digital yuan project or a public blockchain like Ethereum. France’s early CBDC experiment used the Tezos network, for example. Indonesia is currently in the process of banning cryptocurrencies as a transaction method, even though citizens can trade them on exchanges. This legislation will surely remain in place as the government encourages the use of their own digital currency for transactions. Indonesia isn’t the only country that’s been looking into CBDCs more actively this year. The UK has established a CBDC Taskforce, while The Bank of Japan has started trialing a digital yen. Last week, too, Jerome Powell announced that the Federal Reserve would be looking into the benefits and drawbacks of digital currencies as “a complement to, and not a replacement of, cash” and commercial bank deposits. “The design of a CBDC would raise important monetary policy, financial stability, consumer protection, legal, and privacy considerations and will require careful thought and analysis—including input from the public and elected officials,” he said. Disclosure: At the time of writing, the author of this feature owned BTC, ETH, and several other cryptocurrencies.  This news was brought to you by Phemex, our preferred Derivatives Partner. Share this article The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information. You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities. See full terms and conditions. CBDCs Will Replace Private Stablecoin Tether, Central Bankers Say Speaking at the annual ECB Forum on central banking, heads of the three central banks said that they are actively exploring the idea of a CBDC. Some predict it will… What Are Non-Fungible Tokens (NFTs)? Tokenization is well-suited for commodities like fiat currencies, gold, and physical land. A fungible asset’s representation on blockchain makes commodities tradable 24/7 via borderless and frictionless transactions. Fungible goods are… After the World’s First CBDC, China Now Wants to Build a Blockch… In a 145-page document, the Beijing municipal administration presented a two-year roadmap for a blockchain-based programmable governance model. More than 100 government services in China are already using blockchain technology…. “Be Right, Not First,” Says Fed Chairman Powell on a Digit… “We have not made a decision to issue a CBDC,” said Fed Chairman Jerome Powell in his speech during today’s International Monetary Fund (IMF) event devoted to the cross-border payments….

Share this article More promising developments on the Polygon network, this time courtesy of Formation Fi.  Formation Fi to Build on Polygon  Formation Fi is developing an automated market maker on Polygon.  The DeFi project is hoping to leverage Polygon’s scaling capacity to create a chain-agnostic yield farming protocol. Polygon is one of Ethereum’s leading scaling solutions. It’s sometimes referred to as an Ethereum “commit-chain,” providing high-speed transactions at a much lower cost than the base chain.  The partnership between the two projects will lay the foundation for a “dark pool,” with MATIC holders able to earn double rewards for a limited time by providing liquidity to the pool. To do that, they’ll need to enter a whitelist raffle for Fomation Fi’s native token, FORM, to start earning yield (the rewards will be paid in both MATIC and FORM).  Formation Fi plans to adopt a similar risk parity method to the one Ray Dalio made famous on the stock market. The protocol will feature four index coins representing four farming strategies: ALPHA, BETA, GAMMA, and FORM.  By launching on Polygon, Formation Fi has a good shot at capturing some of the increase in yield farming activity the network has seen recently. Yield farmers have flocked to the network to put their crypto assets to work over the last few weeks, taking advantage of the high interest rates protocols offer for liquidity and low transaction costs. Until rollups and Proof-of-Stake arrive on Ethereum, that trend looks set to continue.  Disclosure: At the time of writing, the author of this feature owned ETH, ETH2X-FLI, and several other cryptocurrencies.  This news was brought to you by ANKR, our preferred DeFi Partner. Share this article The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information. You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities. See full terms and conditions. Yield Farmers are Migrating to Polygon Polygon offers a similar yield farming experience to Ethereum mainnet at a fraction of the cost. Key metrics show that DeFi power users are starting to migrate to the network…. 1inch Network Launches on Polygon Polygon lands another massive integration: 1inch Network has launched on the scaling solution.  1inch DEX Launches on Polygon  1inch Network, the popular protocol that aggregates some of DeFi’s most essential… Behind Polygon’s Mission to Become the “AWS of Ethereum… Ethereum’s exorbitant gas fees have made headlines all year long. But for every bottleneck lies a business. And one fast-rising star in the scalability race is Polygon (previously Matic), a… What Are Non-Fungible Tokens (NFTs)? Tokenization is well-suited for commodities like fiat currencies, gold, and physical land. A fungible asset’s representation on blockchain makes commodities tradable 24/7 via borderless and frictionless transactions. Fungible goods are…

Key Takeaways Vitalik Buterin has shared his thoughts on ETH’s potential as a form of money in a podcast about “legitimacy.” Buterin argued that legitimacy and social contracts control resources associated with blockchains like Ethereum. He also said that NFTs have played a key role in giving Ethereum legitimacy. Share this article Is ETH money? Vitalik Buterin seems to think so.  Vitalik Buterin Discusses Ethereum’s “Legitimacy”  On the latest Bankless podcast, Buterin discussed Ethereum and “legitimacy,” following a March blog post the Ethereum co-founder had penned titled “The Most Important Scarce Resource is Legitimacy.”  Buterin argued that legitimacy is a type of unwritten social force that controls the way resources are allocated. Legitimacy, he said, falls under three categories: legitimacy by brute force, legitimacy by fairness, and legitimacy by process.  Legitimacy is the reason forked chains like Ethereum Classic and Bitcoin Satoshi Vision fail to overturn their forerunners, Bankless co-host Ryan Sean Adams asserted, to which Buterin agreed.  During the interview, Buterin shared his thoughts on ETH’s future as “ultra sound money.” He said:  “There’s a shift of legitimacy in thinking of ETH as a type of money of any kind.” Buterin added that ETH was “gaining legitimacy” through the “ultra sound money” concept. He pointed out that ETH was primarily known as a tool for paying gas fees earlier in Ethereum’s lifetime, but its narrative has evolved in recent years. Answering to Bankless co-host on if it would be accepted as money like BTC, he said he thought it was “getting there.” Many crypto followers have previously shared the view that they are bullish on Ethereum but not ETH, though that take is becoming less popular these days.   ETH’s recent rise has been helped by Ethereum researcher Justin Drake, who coined the term “ultra sound money” earlier this year. Drake popularized the meme in anticipation of the network’s forthcoming EIP-1559 update, making ETH a deflationary asset. According to his calculations, the ETH supply may never exceed 120 million. if capped-supply BTC is sound money 📢 decreasing-supply ETH is ultrasound money 🦇 pic.twitter.com/anu6QiZRcO — Justin Ðrake 🦇🔊 (@drakefjustin) January 22, 2021 The World’s First “Triple-Point Asset”  In 2019, when ETH was trading at roughly $180, Hoffman described it as the world’s first “triple-point asset.” It can be used as a capital asset when staking on Ethereum, it’s consumable as it is used to pay for transactions, and it is a scarce store of value.  Interestingly, Buterin said that the NFT movement was “the thing that started giving Ethereum legitimacy” during his Bankless interview as it helped bring the network into mainstream consciousness. NFTs have had a breakout year with musicians, digital artists, celebrities, and other creators adopting the technology. At the same time, the DeFi space continues to grow with over $82.5 billion in total value locked. According to data from Messari, Ethereum settled $1.5 trillion in transactions in the first quarter of the year.  Ethereum itself also has several major developments ahead this year. After EIP-1559, which is scheduled for Jul. 14, the network aims to ship “the merge” to Proof-of-Stake in the coming months. Buterin acknowledged Ethereum’s recent progress on Bankless, stating that the ecosystem is “growing up and reaching a point of maturity.” The latest activity surrounding the network has been reflected in ETH’s price action: the second crypto is up 422% this year, outperforming Bitcoin and various other crypto assets. It crossed $4,200 for the first time yesterday.  Source: CoinGeckoInstitutional interest appears to be on an upward trend too, with the European Investment Bank issuing digital bonds on Ethereum, the ETH futures and options markets gaining pace, and high-net-worth investors adding to buying pressure with multi-million dollar ETH buys. In other words, ETH is also “gaining legitimacy” among the whales.  Disclosure: At the time of writing, the author of this feature owned ETH, FLI, and several other cryptocurrencies.  Share this article The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information. You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities. See full terms and conditions. Ethereum Sets New Record High Above $4,000 Thanks to its latest run, Ethereum is catching up with Bitcoin. ETH in Repricing Mode  ETH crossed $4,000 early Monday and is currently trading at $4,104.  The number two crypto… What Are Non-Fungible Tokens (NFTs)? Tokenization is well-suited for commodities like fiat currencies, gold, and physical land. A fungible asset’s representation on blockchain makes commodities tradable 24/7 via borderless and frictionless transactions. Fungible goods are… Key Ethereum Researchers Vote to Ship Proof-of-Stake in 2021 Ethereum looks set to launch Proof-of-Stake this year.  Proof-of-Stake on the Horizon Ethereum could ship Proof-of-Stake before the year is out.  Justin Drake, one of the researchers working on Ethereum… After Bitcoin, Institutions Finally Turning to Ethereum While many retail investors have been shaken out of the market due to the high volatility, institutional demand for Ethereum is rising. Institutional Demand at Record High Ethereum’s scalability issues…

Key Takeaways UNI tokens could be used to relay a secure price feed for ETH/USD due to Uniswap’s high market cap. A higher market cap means acquiring enough UNI tokens to create an oracle attack would be too expensive for hackers. Vitalik Buterin said Chainlink’s current incentive system is not perfect and Chainlink is better used on more complex issues. Share this article The co-founder of Ethereum argued for the necessity of a centralized price oracle with a high market capitalization to make any attack prohibitively expensive. In this case, he drew UNI as an example. Protecting DeFi From Oracle Attacks At the heart of DeFi, there is ETH.  The native currency of the Ethereum network is used as gas to facilitate transactions and as a reserve currency. Most pairs on Uniswap, for example, use ETH as the second asset.  To secure any application running on Ethereum, DeFi needs a reliable price oracle for the ETH/USD pair to protect it from oracle attacks. Knowing the real-world value of ETH/USD isn’t as easy as simply looking at the ETH/USDC price on Uniswap, nor an average of ETH/USDC, ETH/USDT, ETH/GUSD as that would only improve the security of the ETH/USD price slightly. Currently, Chainlink is the leader in oracle networks, but Buterin argues that Uniswap could build a better alternative with a stronger incentive system to ensure reliable price feeds.  While Chainlink is striving to develop a complex oracle network capable of providing reliable on-chain information to smart contracts, Buterin argues that a more minimalist alternative would be best for the price of ETH/USD. UNI would be a great candidate as the market capitalization of the DeFi token is currently around $22 billion, making any attack extremely costly.  While the efficiency might not be at the level of Chainlink yet, the real challenge is building a reliable oracle lies in its security. The value of UNI would be used to guarantee the price feed of the oracle, in essence requiring a certain amount of UNI to force the price feed into relaying fake information. The cost of assembling enough UNI tokens to provide a fake price for ETH/USD to create an opportunity for an oracle attack would be prohibitive and discourage any hackers. The idea is also a testament to the growth of DeFi and the broader Ethereum ecosystem. Instead of a technical solution, Buterin has revealed the power of tightly aligned economic incentives.  Disclaimer: The author held ETH and several other cryptocurrencies at the time of writing. This news was brought to you by ANKR, our preferred DeFi Partner. Share this article The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information. You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities. See full terms and conditions. What Is Uniswap? Introduction to UNI Token Uniswap is a decentralized exchange (DEX). It allows users to swap various Ethereum-based ERC-20 tokens from a simple web interface, as shown in the image below. Uniswap is currently the… Oracle Tokens Chainlink, Band Protocol Enter New Bull Rally Chainlink and Band Protocol have recently made new all-time highs. Though some investors may take advantage of the rising price action to book profits, these cryptocurrencies show no signs of… What Are Non-Fungible Tokens (NFTs)? Tokenization is well-suited for commodities like fiat currencies, gold, and physical land. A fungible asset’s representation on blockchain makes commodities tradable 24/7 via borderless and frictionless transactions. Fungible goods are… Alpha Finance Turns to Chainlink, Band for Oracle Solutions DeFi Staple Alpha Finance is bringing together price feeds from multiple sources.  Alpha Finance Merges Price Feeds Alpha Finance is launching the Alpha Oracle Aggregator to pull in price feeds…

Key Takeaways Sushi has created a platform called MISO for new projects to list tokens on SushiSwap. MISO is a suite of smart contracts that allows for the creation of tokens to be sold in crowdsale or auction formats. The first sale on MISO will feature 888 tokenized bottles of sake listed in a Dutch auction format. Share this article Sushi is releasing a rare bottle of tokenized sake with an eye-watering price tag on its new launchpad.  Sushi Launches New Launchpad  Sushi has created a launchpad for new projects to sell their tokens.  The Minimal Initial SushiSwap Offering, abbreviated to MISO, is a suite of smart contracts that will allow projects to launch ERC-20 tokens on the SushiSwap exchange. In addition to listing on the popular DEX, MISO projects will gain access to Onsen, Sushi’s popular liquidity mining rewards program. Tokens that can be created fall under three categories: fixed supply, mintable, and governance token. MISO will let projects choose between a crowdsale, Dutch auction, and batch auction to sell their tokens.  The Sushi team is best known for creating SushiSwap, one of Ethereum’s most popular automated market makers. The decentralized exchange launched in chaotic fashion during the height of DeFi summer last year and has since become one of DeFi’s favorite platforms, holding about $4.65 billion in liquidity today. Sushi, whose team is mostly made up of a group of pseudonymous developers, has since expanded its offering, launching products like lending and margin trading and heading to other Layer 1 chains.  The MISO platform will launch with the sale of SAK3, an ERC-20 token that can be redeemed for a physical bottle of sake. SAK3 is a rare style of sake called Junmai Daiginjo, which is reflected in the supply: only 888 will be available, with an initial 200 to launch on Ethereum. It will go on sale this Thursday in a Dutch auction format, with bidding starting at 88,000 SUSHI—the equivalent of around $1.73 million at today’s prices. Billed as the world’s first tokenized sake, the token is reminiscent of another that was released by SushiSwap’s biggest rival, Uniswap. The Ethereum-native exchange launched a pair of tokenized socks called SOCKS in 2019, sold on a bonding curve and limited to a supply of 500. One pair goes for $72,149 today.  Disclosure: At the time of writing, the author of this feature had exposure to ETH, ETH2X-FLI, and several other cryptocurrencies. They also had exposure to UNI and SUSHI in a cryptocurrency index.  This news was brought to you by ANKR, our preferred DeFi Partner. Share this article The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information. You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities. See full terms and conditions. SushiSwap Launches New Lending and Margin Trading Platform SushiSwap will allow margin trading of some crypto trading pairs that are not available in the market due to lack of liquidity. The move has seen many mid-sized whales enter… After Successful Launch, Solana DEX Raydium May Integrate SushiSwap SushiSwap on Solana? Thanks to Raydium, it may happen soon.  Proposed SushiSwap Integration  Raydium, a new automated market maker (AMM) built on the Solana blockchain, may integrate SushiSwap.  A proposal… All You Need to Know About DeFi’s SushiSwap Saga (But Were Afrai… The SushiSwap saga and its native token, SUSHI, will go down in crypto history.  What began as a tokenized version of Uniswap has spiraled into something much more. It reminds… What Are Non-Fungible Tokens (NFTs)? Tokenization is well-suited for commodities like fiat currencies, gold, and physical land. A fungible asset’s representation on blockchain makes commodities tradable 24/7 via borderless and frictionless transactions. Fungible goods are…

Key Takeaways UMA has launched a new system that resolves price requests without relying on an oracle for data. The system works “optimistically,” meaning disputes are only raised if the requested data is wrong. UUMA launched as a DeFi platform for synthetic assets but hopes to become a powerful tool for building any kind of financial contract. Share this article UMA unveils its “Optimistic Oracle.”  UMA Launches Major Update UMA, the DeFi protocol aiming to create “Universal Market Access,” has launched a new system for resolving price requests called the “Optimistic Oracle.”  The project’s co-founder Hart Lambur announced the update in a Thursday blog post. The concept of an Optimistic Oracle is something Lambur has long discussed when promoting UMA. The protocol initially launched as a platform that allowed anyone to create synthetic assets but has evolved at a fast pace over the last year. It’s hoping to become a platform for all kinds of financial contracts, and the Optimistic Oracle is one of the fundamental parts of its design.  Most DeFi protocols rely on oracles such as Chainlink to get accurate price data. Synthetix, for example, uses Chainlink. UMA works differently in that it runs a “priceless” mechanism. It works by allowing anyone to push an answer on-chain, and disputes are only raised if the data is incorrect.  The Optimistic Oracle system features three actors: one requesting a price for the contract (“the requester”), one proposing the price (“the proposer”), and another that can dispute prices they disagree with (“the disputer”). As it operates optimistically, there are rarely ever any disagreements; UMA says that it’s seen “fewer than five legitimate disputes” over the last year.  The dispute period gets set by the requester, to which the proposer posts a bond and suggests a price. If there are no disputes, the data gets finalized quickly at a low cost. When the disputer disagrees with the proposal, the request gets sent to UMA’s Data Verification Mechanism. Disputes are handled by UMA token holders within a 48-hour time window.  UMA’s, the DeFi “Blue Chip”  Although oracles are seen as a cornerstone of the DeFi ecosystem, UMA’s innovation could prove to be an effective system for pulling price information on-chain. An Optimistic Oracle is particularly useful, Lambur writes, for “super precise data” such as prices related to options, insurance, and financial contracts. Many popular oracles struggle to provide precise data when required.  The Optimistic Oracle code has been audited by OpenZeppelin and already secured $200 million worth of synthetic tokens. It can be integrated into any DeFi protocol; the post notes that Opium Protocol already has partnered with the project. Andrey Belyakov, the founder of Opium Protocol, said:  “We are happy to cooperate with UMA mixing their optimistic oracle approach with our financial primitives to create mind-blowing use cases. No spoilers, but we are shooting for the moon.” Meanwhile, UMA has promised “more integrations, partnerships, and improvements” over the next few months.  UMA is one of Ethereum’s leading DeFi protocols, widely regarded as a “blue chip” of the ecosystem. It recently launched a joint project with YAM called Degenerative Finance; the teams began offering WallStreetBets-tracked stocks after the GameStop saga in March. UMA has enjoyed steady growth along with the rest of the market this year, with a market cap of just over $1.5 billion. The UMA token trades at roughly $25 today.  Disclosure: At the time of writing, the author of this feature owned ETH, SNX, and several other cryptocurrencies.  This news was brought to you by ANKR, our preferred DeFi Partner. Share this article The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information. You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities. See full terms and conditions. UMA, Yam Finance Launch WSB-Tracked Stocks Degenerative Finance is launching a stocks index that “tracks the sentiment of the r/WSB community.” Degenerative Finance Eyes WallStreetBets  Degenerative Finance, the partnership project of UMA and Yam Finance, is… DeFi Project Spotlight: Degenerative Finance and uGas Ethereum Futures uGas is the first project launched by Degenerative Finance, itself a partnership between last summer’s popular DeFi platform, YAM Finance, and UMA Protocol. The uGas offering will be the focus… What Are Non-Fungible Tokens (NFTs)? Tokenization is well-suited for commodities like fiat currencies, gold, and physical land. A fungible asset’s representation on blockchain makes commodities tradable 24/7 via borderless and frictionless transactions. Fungible goods are… Synthetix Now Allows Users To Trade Top Tech Stocks DeFi trading platform Synthetix has added support for new synthetic assets that follow the price of popular U.S.-based tech stocks. Synthetix Offers FAANG Trading Synthetix’s community governance body, synthetixDAO, voted…

Share this article Polygon lands another massive integration: 1inch Network has launched on the scaling solution.  1inch DEX Launches on Polygon  1inch Network, the popular protocol that aggregates some of DeFi’s most essential projects in one app, has gone live on Polygon.  1/ In the Age before #Crypto, the world was shrouded by fog. But then there was Fire. And with Fire came disparity. And #ETH with #BSC were born. The 3rd world had always been a tale of ancient #degens. But the truth appeared before #1inch mascot in the form of a green portal. pic.twitter.com/2V6WHp0EnD — 1inch Network (@1inchNetwork) May 13, 2021 The move will initially allow users to access liquidity from Curve, SushiSwap, QuickSwap, Aave V2, and Cometh via Polygon, with more sources to be added at a later date.  Polygon is one of Ethereum’s top scaling solutions. It’s had a big year so far, integrating the likes of Aave, Curve, and SushiSwap. Transactions on the network have also exploded, while its native MATIC token has recently risen above $1 (it started the year at $0.18). It has its own Proof-of-Staker consensus algorithm and acts as a sidechain to Ethereum mainnet, processing transactions at a fraction of the cost. It costs less than a cent, paid in MATIC, to process a transaction. Polygon is also targeting sustainability in the NFT space, recently collaborating with Cent, a platform for tokenizing tweets.  Sergej Kunz, the co-founder of 1inch Network, explained that the project’s community had called for the integration. In a blog post announcing the update, he said:  “After the 1inch Network expanded to Binance Smart Chain, there was a massive request from the community to make Polygon available for swapping via 1inch. Currently, the 1inch Aggregation Protocol is already deployed on Polygon, while the 1inch Liquidity Protocol and the 1inch Governance Protocol are expected to expand over to Polygon in the upcoming few weeks.” 1inch went live on Binance Smart Chain in February amid surging gas fees on Ethereum. The price of using DeFi’s base layer has been creeping up again over the last few days, helped by ETH’s record prices and a frenzy for so-called “dog coins.” Now that the popular aggregator has gone live on Polygon, users will have another affordable alternative.  Disclosure: At the time of writing, the author of this feature owned ETH, CRV, AAVE, and MATIC. They also had exposure to SUSHI in a cryptocurrency index.  This news was brought to you by ANKR, our preferred DeFi Partner. Share this article The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information. You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities. See full terms and conditions. 1inch Exchange Goes Live on Binance Smart Chain Decentralized exchange (DEX) aggregator 1inch Exchange has launched its service on Binance Smart Chain (BSC). 1inch Expands to Binance Smart Chain 1inch Foundation has deployed its DEX aggregator and liquidity… Polygon Transactions Explode After DeFi Expansion Polygon’s on-chain activity suggests exponential growth over the last month, largely driven by DeFi projects expanding to the platform. Polygon Experiences DeFi Growth  As Ethereum faces scaling issues and high… What Are Non-Fungible Tokens (NFTs)? Tokenization is well-suited for commodities like fiat currencies, gold, and physical land. A fungible asset’s representation on blockchain makes commodities tradable 24/7 via borderless and frictionless transactions. Fungible goods are… Behind Polygon’s Mission to Become the “AWS of Ethereum… Ethereum’s exorbitant gas fees have made headlines all year long. But for every bottleneck lies a business. And one fast-rising star in the scalability race is Polygon (previously Matic), a…