Kategorie: Crypto Markets

• 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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• a16z has invested $100 million in Ethereum restaking protocol EigenLayer.
• The startup founded by former University of Washington associate professor Sreeram Kannan raised $50 million in March.
• EigenLayer has a TVL of $7.84 billion, up from $2.15 billion on February 5, 2024.

Venture firm Andreessen Horowitz (a16z) has invested $100 million in EigenLayer, a startup founded by former University of Washington associate professor Sreeram Kannan.

According to a Bloomberg report on Thursday, a16z was the only investor in the funding round.

a16z backs EigenLayer with $100 million

EigenLayer is the largest restaking protocol on Ethereum. It allows validators and stakers to earn by restaking liquid staking derivatives such as the Lido staked Ether (stETH) and RocketPool staked ETH (rETH). 

The $100 million investment adds to the $50 million that the EigenLayer team raised in March last year. 

Accelerating Ethereum Together: @eigenlayer ♾ @a16zcrypto

We are excited to announce that Eigen Labs, the core development team contributing to EigenLayer and @eigen_da, has raised $100 million from a16z crypto.https://t.co/M2JQ8HZZ0h

— EigenLayer (@eigenlayer) February 22, 2024

The partnership with a16z crypto expands the Eigen Labs and a16z’ commitment to research, the platforms noted. This will include in the area of open source, public goods and long-term support across the industry.

“a16z is extremely long-term. They first published perspectives on Bitcoin and Coinbase as early as 2013. In the decade since they’ve continued to support the industry in important ways, including advocating for a positive technological future with policymakers and regulators,” the Eigen Labs team noted in a blog post.

EigenLayer launched in 2021 and has seen tremendous growth over the past few months. At the moment, the protocol ranks as the third-largest by total value locked (TVL) on Ethereum. 

Data from DeFiLlama shows EigenLayer’s TVL currently stands at $7.84 billion, having sharply risen from $2.15 billion on February 5, 2024.

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• Lido has announced support for 1inch as a withdrawals aggregator.
• 1inch will allow ETH stakes to skip the withdrawal queues with instant swaps between staked Ether (stETH)/wrapped staked Ether (stETH) and Ethereum (ETH.

Lido, the top liquidity staking protocol for Ethereum, has announced support for 1inch as a withdrawals aggregator.

The Lido team noted in their announcement on Wednesday that adding the decentralized exchange aggregator allows users to access instant swaps for their staked Ether (stETH) and wrapped staked Ether(wstETH). The feature also works for Ethereum (ETH).

“1inch is a DeFi aggregator optimised for Ethereum, BNB Chain, Optimism, Polygon and other chains. By aggregating prices across hundreds of DEXs, 1inch guarantee you the best rates for all trades,” Lido posted on X.

ETH stakers on Lido can unstake their stETH or wstETH via DeFi aggregators, which allows them to skip withdrawal queues by enabling stETH to ETH swaps within minutes. With 1inch, stakers can tap into a fast exit on Ethereum, Arbitrum and Optimism via 1inch Legacy mode or Fusion mode.

In the Legacy mode, users can tap into efficient atomic swap transactions while Fusion mode allows users to exchange their stETH or wstETH at competitive rates without gas fees. However, Fusion mode only allows for stETH/wstETH swaps valued at more than $1000.

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• Binance has announced Web3 gaming project Portal (PORTAL) as the 47th project added to the Binance Launchpool.
• Users can stake BNB and FDUSD to farm PORTAL starting on February 22, 2024 at 00:00 UTC.
• Binance will add trading support for PORTAL at the end of the farming period.

Binance has added the 47th project to its Launchpool with the introduction of crypto gaming platform Portal (PORTAL).

An announcement the crypto exchange released on Wednesday stated that Binance Launchpool participants can now farm PORTAL by staking BNB and FDUSD. The seven-day program will then be followed by Binance’s listing of PORTAL spot trading pairs.

According to Binance, farming for PORTAL will start on February 22 at 00:00 UTC, with trading support for the cross-chain gaming platform set for February 29 at 10:00 UTC. The exchange plans to list five spot trading pairs for the token – PORTAL/BTC, PORTAL/USDT, PORTAL/BNB, PORTAL/FDUSD and PORTAL/TRY.

⚡ Portal x @binance ⚡

The moment you’ve all been waiting for is nearly here. On Feb 29, 10am UTC, $Portal will officially launch on @binance.

This is just the beginning. We’ve got so much to show you about Portal and the products we’ve been building. Get ready! https://t.co/zge4Prs1n1

— Portal (@Portalcoin) February 21, 2024

Binance will apply the Seed Tag to PORTAL, which is a caution attached to notify users that the new token is likely to be very volatile when trading opens.

Portal held a presale for its native token in 2023.

Binance unveiled the Binance Launchpool platform in September 2020 and has added projects such as Sui, Mantle, Memecoin and Pendle.

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• Pullix raises $7M in presale, nearing eagerly awaited launch.
• The presale is in the final stage and over 3 million tokens have already been sold.
• PLX token empowers users with passive income and trading discounts.

Pullix, a pioneering force in decentralized finance (DeFi), has garnered significant attention as it approaches the culmination of its presale phase.

With $7 million raised thus far, Pullix stands poised to revolutionize the crypto trading landscape with its innovative hybrid exchange platform. As the presale’s final stage quickly progresses, anticipations are mounting for the much-anticipated launch of Pullix, which could signal a new era in crypto trading.

Pullix: bridging centralized and decentralized trading

Pullix introduces a novel approach to DeFi with its hybrid exchange, seamlessly integrating the strengths of centralized and decentralized platforms.

At the core of the Pullix exchange lies the PLX token, which empowers users with passive income, trading discounts, and exclusive rewards. PLX holders partake in the platform’s success through a transparent revenue-sharing mechanism while maintaining control over their assets.

PLX’s utility in the Pullix ecosystem

PLX serves as the lifeblood of the Pullix ecosystem, offering users a host of benefits that enhance their trading experience.

With PLX, traders can earn passive income by staking tokens in the market-making liquidity pool. Additionally, PLX holders enjoy significant discounts on trading fees, making transactions more cost-effective. Exclusive rewards further incentivize participation, distributed from Pullix’s daily revenues.

According to the information provided on Pullix’s official website, when Pullix launches and trading begins, a percentage of the daily revenues from Pullix shall be used to purchase $PLX tokens from the open market for burning to reduce the supply as the demand rises.

The almost-ending PLX presale

The presale phase of PLX has witnessed remarkable success, with more than $7 million raised as the final stage quickly progresses.

Currently priced at $0.14 per token, the presale offers investors a unique opportunity to acquire PLX before the much-awaited launch.

With over 3 million tokens sold and approximately 67.7% of the total supply remaining, the presale reflects the growing enthusiasm and support for Pullix. As the countdown timer ticks away, investors can visit the Pullix website to seize the opportunity and secure PLX tokens before the presale ends.

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