Monat: Februar 2024

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Injective introduces CW-404 standard in partnership with DojoSwap

  • Injective unveils CW-404 standard with DojoSwap.
  • CW-404 enables fractional NFT ownership, starting with the Sushi Fighter NFT collection.
  • Aiming to attract Ethereum’s investment, Injective pioneers new blockchain standards.

Injective, a Layer 1 blockchain, has unveiled its latest move in the world of digital assets with the introduction of the CW-404 standard.

This development, in collaboration with decentralized exchange DojoSwap, aims to revolutionize the landscape of non-fungible tokens (NFTs) and token standards.

CW-404 standard: fractional ownership to NFTs

Injective’s CW-404 standard mirrors the highly acclaimed ERC-404 standard, known for its groundbreaking approach to NFTs on the Ethereum blockchain. CW-404 combines elements from the CW-20 and CW-721 standards, paving the way for fractional ownership of NFTs. This innovation makes NFTs more accessible to a wider range of users and unlocks a plethora of financial possibilities within the digital asset space.

The Sushi Fighter NFT collection emerges as the pioneer in utilizing the CW-404 standard on the Injective network. This collection showcases generative profile pictures and custom minting logic, offering users a unique and engaging experience in the world of NFTs. With the CW-404 standard, the Sushi Fighter NFT collection opens up new avenues for creativity and exploration in the NFT marketplace.

Injective’s bid to attract Ethereum’s investment

The introduction of the CW-404 standard aligns with Injective’s strategic vision to attract investment from Ethereum’s thriving ecosystem. While ERC-404 tokens have garnered significant attention and investment in Ethereum, Injective aims to capitalize on this momentum by offering a comparable standard on its own network. By partnering with DojoSwap, Injective expands its reach and offers users a seamless experience in tokenizing and trading assets within the CW-404 framework.

Injective’s decision to adopt the CW-404 standard reflects its commitment to innovation and user-centric solutions in the blockchain space. With the potential to unlock new possibilities for decentralized applications (dApps) and financial innovations, CW-404 positions Injective as a frontrunner in the evolving landscape of digital assets.

Future prospects for Injective and CW-404

As Injective continues to develop and refine its offerings, the adoption of the CW-404 standard marks a significant milestone in its journey towards mainstream adoption. With the Sushi Fighter NFT collection serving as a testament to the capabilities of CW-404, Injective sets the stage for future collaborations and developments within its ecosystem.

Looking ahead, Injective aims to leverage the CW-404 standard to drive growth, foster innovation, and attract a diverse range of users and developers to its platform. With the support of partners like DojoSwap and the broader blockchain community, Injective remains poised to make waves in the digital asset space with its cutting-edge solutions and forward-thinking approach.

The post Injective introduces CW-404 standard in partnership with DojoSwap appeared first on CoinJournal.

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Memeinator’s presale approaches $5 million: Should you invest in the 16th stage?

Key takeaways

  • The cryptocurrency market has been consolidating since the start of the week, with BTC still trading above $51k.

  • Memeinator’s presale is now approaching the $5 million mark and will soon enter the 16th stage.

Bitcoin stagnates above $51k

The cryptocurrency market has been consolidating since the start of the week. Bitcoin has stabilised around the $51k region over the last few days following last week’s rally. Meanwhile, Ether topped the $3k psychological level earlier this week after outperforming Bitcoin. 

With the market still in consolidation, this might be the perfect time to purchase more crypto assets and invest in new and exciting projects. One of the projects that could pique your interest is Memeinator. The project is working to disrupt the entire meme industry and provide more value to investors and users. 

What is Memeinator?

Before investing in Memeinator, you need to know what the project is and how the team intends to provide value to investors and users.

Memeinator seeks to become one of the leading meme coins in the crypto space. It is ideally designed to help content creators generate better content. 

The key value proposition of Memeinator is that it seeks to improve the quality of memes on the internet, ensuring that only a high level of quality memes are available to users to leverage for their content. 

At the moment, there are thousands of meme coins spread across the Ethereum, BNBChain, Solana, and other blockchains. However, most of them don’t provide utility to the users beyond being speculative assets. Memeinator is changing this narrative by becoming one of the few meme coins that offer value to their users and stakeholders. 

Per their whitepaper, Memeinator will use AI technology to identify worthless memes on the internet, allowing users to know and steer clear of them. 

With its value proposition, the Memeinator team intends to roll out strategies to enable the MMTR token to attain a $1 billion market cap in the coming years. They have published a detailed roadmap that shows how Memeinator will reach the $1 billion market cap. 

Memeinator is still in its presale stage, allowing investors to buy the token at a discount price before it gets listed on cryptocurrency exchanges. In the first presale stage, the MMTR was sold for $0.01 and will rise to $0.0485 by the end of the presale, giving early investors an astonishing 132% ROI at listing. 

Memeinator’s presale raises over $4.9 million

The presale stages allow investors to purchase tokens at discount prices, and Memeinator investors are taking advantage of this opportunity. It is currently in its 15th stage and has raised more than $4.9 million so far. 

The native MMTR token can be purchased using three tokens, ETH, USDT, and USDC. According to the official website, the token is available to users on the Ethereum and BNChain blockchains. The MMTR token can also be purchased using the supported wallets. 

Click here to read more about the Memeinator presale.

Why is the Memeinator presale attracting more investors?

Projects attract investors if they offer value to them, and Memeinator seems to be doing just that. The Memeinator presale is moving fast and could enter the 16th stage in the coming hours.

The Memeinator project has raised $4,932,436 of the required $4,948,275 in this presale stage. If the development team rolls out its products and services, Memeinator’s adoption could skyrocket in the coming months, and it would become one of the leading meme coins in the crypto space. 

The rapid presale comes because Memeinator is offering a solution for degens, crypto natives, and speculators. The team believes that Memeinator’s use cases go beyond the crypto space, as content creators could use its services to gain access to quality memes. 

The combination of AI and blockchain technology could also put Memeinator in the category of AI tokens (they are valuable within the crypto space at the moment). Its AI solution will allow users to analyse and evaluate memes across the internet. This makes it possible to identify lower-quality memes and replace or destroy them. 

Furthermore, its native MMTR token will offer numerous incentives to investors and token holders. The token has deflationary mechanisms and rewards for holders. 20% of the total token supply has already been earmarked for marketing, CEX listing and liquidity. 

Will MMTR rally higher in 2024? 

MMTR’s presale will end soon, and the token will begin listing on decentralised and centralised exchanges. At the moment, it is impossible to determine if Memeinator will rally higher later this year.

However, the project has massive potential and could become one of the leading meme coins in the coming years. The right level of adoption could see Memeinator’s market cap reach the $1 billion target over the coming years. 

The project will also benefit from the ongoing bullish cycle in the market. If the broader crypto market rallies higher this year, MMTR could become one of the gems to record healthy gains. 

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Binance Labs invests in EigenLayer restaking protocol Renzo

  • Binance Labs, the venture capital arm of Binance, has invested in Renzo.
  • Renzo is a Liquid Restaking Token (LRT) and Strategy Manager for Ethereum restaking protocol EigenLayer.

Binance’s venture capital arm has announced it invested in Renzo, a Liquid Restaking Token (LRT) and Strategy Manager for EigenLayer.

Binance Labs’ announcement that it invested in Renzo comes on the same day as news of venture capital firm a16z’ $100 million investment in EigenLayer. EigenLayer is an Ethereum restaking protocol with a TVL of of $7.8 billion as of February 22, 2024.

Read more: a16z invests $100 million in Ethereum restaking protocol EigenLayer.

Binance Labs seeks to boost Liquid Restaking space

Renzo Protocol is the liquid restaking hub for EigenLayer, with its technology key to the trustless collaboration between various ecosystem players on EigenLayer. Binance Labs seeks to help stakers, node operators and Actively Validated Services (AVS) on Renzo collaborate better within an environment of shared security and standard risk management.

“Renzo’s technology addresses the complexities of Liquid Restaking, enabling more users to participate in Liquid Restaking. At Binance Labs, we are always seeking innovative DeFi projects that introduce novel use cases, and we look forward to witnessing Renzo’s growth in the Liquid Restaking sector,” Yi He, co-founder of Binance and head of Binance Labs, said in a statement.

Renzo offers native ETH restaking, with support for ETH deposits as well as LST tokens such as staked ETH (stETH) and wrapped Beacon ETH (wBETH).

When a user deposits an LST token or Ether on Renzo, they receive ezETH. This is a liquid restaking token that represents the user’s restaked position. The LRT encapsulates all potential yields and incentives.

The post Binance Labs invests in EigenLayer restaking protocol Renzo appeared first on CoinJournal.

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FalconX announces expansion into Hong Kong

  • Digital assets brokerage FalconX announces expansion into Hong Kong.
  • The platform expanded its services to Singapore in 2023 as it sought to grow its presence in the APAC.
  • FalconX recently partnered with TC ICAP’s Fusion Digital Assets.

The team as FalconX, a digital-assets prime brokerage for institutions, has revealed that it is expanding its cryptocurrency services and products to Hong Kong. FalconX shared the news via a post on its X account.

Hong Kong’s growing as a crypto hub

FalconX announced that the expansion plans come amid rising demand from global institutions for an efficient, safe and regulated exposure to the crypto asset class. The platform shared its plans via an announcement on Thursday.

It noted that the goal is to extend its over-the-counter (OTC) brokerage and crypto derivatives products to institutional investors. These include fund managers, proprietary trading firms and family offices among other professional investors.

Hong Kong continues to grow into a leading crypto innovation hub, FalconX general manager for Asia Pacific region Matt Long said. His firm’s move into the region will see its position as Hong Kong brings further regulatory clarity, with Web3 set to benefit.

FalconX is looking to make inroads in the Hong Kong market after its entry into Singapore in February 2023.

In January this year, FalconX inked a strategic partnership with Fusion Digital Assets, an FCA-registered spot crypto asset exchange of the London-based financial services firm TC ICAP.

According to a press release published on January 31, FalconX said the integration would bring competitive pricing and liquidity to its platform.

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PSG becomes first football club blockchain validator

  • French footballing giant Paris Saint-Germain has become a validator on the Chiliz blockchain.
  • PSG is now the first football club to run a validator for a cryptocurrency network.
  • The $PSG Fan Token jumped following the news, with the club set to reinvest the earned rewards in a buyback program.

Paris Saint-Germain is now an official network validator for the Chiliz Chain blockchain, a role that makes the French giant the first football club to actively participate in the running of a blockchain network.

PSG takes up the role as part of its partnership with the Socio.com platform, the Chiliz team announced on Thursday. This comes as Chiliz Chain unveils its revamped tokenomics model, with new staking rewards paid in the native $CHZ token.

“By becoming a validator on the Chiliz Chain, we’re not just embracing the future of web3 sports; we’re actively designing it so that we can have a more direct relationship with our fans through Web3 experiences,” Pär Helgosson, head of Web3 at Paris Saint-Germain, noted.

PSG to initiate token buyback

Per today’s announcement, PSG will use 100% of the funds accrued from its validator reward to buy back its fan token. The club will execute its buyback program via smart contracts, with the reinvesting meant to help refresh the $PSG token’s reserves.

Other than becoming a blockchain validator, PSG will collaborate with Chiliz as a co-host of a hackathon club’s stadium Parc Des Princes.

The $PSG Fan Token rose after the news, rising to highs of $3.88 on February 22. Meanwhile, the Chiliz ($CHZ) token also experienced an upswing, jumping to a nine-month high above $0.13. At the time of writing, $PSG traded around $3.68 while $CHZ changed hands above $0.12.

The Ligue 1 leaders launched the club’s Fan Token in September 2018.

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