Kategorie: Crypto Markets

Busan city, the second-largest city in South Korea which is commonly referred to as South Korea’s ‘Blockchain’ city, has partnered with the leading cryptocurrency exchange FTX to build a local crypto exchange. In addition, the partnership is also aimed at fostering blockchain development in the city.

According to the agreement according to a statement issued by the Busan Metropolitan City on August 30, FTX will assist in creating a local crypto exchange duped by Busan Digital Asset Exchange. The Bahamian-based crypto exchange led by Sam Bankman-Fried shall also support Busan city in fostering the growth of the local blockchain industry.

Busan City’s crypto exchange

Busan City will leverage FTX’s technology and infrastructure to build its own cryptocurrency exchange and promote blockchain-specific education in local universities and projects within the city’s ‘Blockchain Special Free Zone’ established in 2019.

FTX, through its Investment Division CEO, Amy Woo, said that it will establish a Korean FTX branch in Busan City in the next 12 months to help make Busan a digital financial hub in Asia.

Besides signing an agreement with FTX, Busan also partnered with Binance, the largest crypto exchange by trading volume, on August 26. Binance entered into a memorandum of understanding to provide infrastructure and technological support to the city for its blockchain development effort.

Both FTX and Binance are therefore set to establish a presence in South Korea over the coming 12 months.

From the time Busan was designated as South Korea’s Blockchain city in 2019, several projects have already been rolled out. These projects include a propriety blockchain-based ID system, a blockchain-powered driver’s license platform, and cryptocurrency support for various services.

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Bitvavo now supports staking for three new tokens- SOL, ATOM and LUNA2.

Dutch crypto platform Bitvavo has added three new cryptocurrencies to its staking rewards service.

Now with Solana (SOL), Luna (LUNA2) and Comos (ATOM), customers can leverage their holdings to enjoy staking rewards of up to 10% APY.

Stake SOL, LUNA and ATOM

Staking is one way cryptocurrency holders participate in the network transactions and security of a blockchain network. By locking up their assets for a given period, holders help facilitate the said activities, with a reward earned as part of the incentivisation process.

Bitvavo now supports the above coins, offering a flexible staking feature that allows users to stake or unstake their crypto assets at will.

In their latest update the Dutch-based platform noted the following as the new yearly yield (annual percentage yield, or APY) for the three proof-of-stake digital assets.

Here is what you earn when you stake with Bitvavo:

• Solana (SOL): earn up to 5% reward
• Luna (LUNA2): earn up to 6% reward
• Cosmos (ATOM): earn up to 10% reward

The update means the maximum yearly reward for staked assets on the De Nederlandsche Bank (DNB) regulated platform is higher than the 7.5% initially offered on Icon (ICX).

Users can access and keep tabs on their staked assets in the Bitvavo app.

Cardano (ADA) staking reward update

Apart from adding Solana, Cosmos, and Luna, Bitvavo has updated the staking reward for Cardano (ADA). This has been reevaluated from 5% to 4.25%.

Factors that help determine the yield rate include the average pool rate, blocks per Epochs, amount of ADA pledged and staking costs relating to the percentage of the reward pool operators take.

Bitvavo has over 1 million users and offers up to 180 digital assets, including Bitcoin and Ethereum.

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The venture-backed crypto custody and services firm Fireblocks has added support for Solana. Fireblocks users will now be able to directly interact with Solana applications on Fireblocks’ platform

The integration allows users to connect and interact directly with decentralized applications (dApps) built on the Solana ecosystem. Developers on the Solana ecosystem will also be able to utilize a wide variety of tools.

Fireblocks CEO Michael Shaulov said:

“Fireblocks’ Web3 Engine offers Solana builders the highest level of security when it comes to accessing the blockchain and its ecosystem of applications for their customers.”

According to DeFiLlama, the total locked value on Solana was approximately $1.4 billion making it the sixth largest blockchain in terms of this metric. In addition, Solana’s non-fungible (NFT) community is the second-most active across all blockchains.

Solana price after the integration

After the news of the integration, the price of SOL, Solana’s native token, surged to a daily high of $33.07. The token had however dropped to $31.12 at press time, registering a drop of 2.62% in the past 24 hours.

Today’s drop has made SOL lose half of the gains it had made yesterday and it has aroused fears of resuming the previous bearish trend that had seen it drop to a low of $30.

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Ava Labs founder and CEO Emin Gün Sirer has termed a controversial report by CryptoLeaks as “an obvious fraud” that “everyone should be able to see right through.”

Gün Sirer says the allegations are disheartening and noted that they have come from “false claims” by Ava Labs’ former lawyer Kyle Roche. According to him, Kyle had lied to one of his potential clients about the nature of what he did for Ava Labs – all in an attempt to impress.

He maintains his company has not engaged in any of the activities as alleged by CryptoLeaks.

“The allegations on this site are categorically false. Ava Labs believes in transparency and facing the world head-on, not through behind-the-scenes dealing or activity,” he said in a statement shared on Monday.

Ava Labs had a ‘secret pact’?

In a recent report CryptoLeaks claimed it had damning “spy video” and whistleblower information that showed how Ava Labs, the firm behind the Avalanche (AVAX) blockchain, had engaged in a conspiracy against its rivals.

According to the site, there existed a “secret pact” between Ava Labs and lawyer Kyle Roche of the Roche Freedman LLP firm. Through this pact, Roche would exploit the US legal system in a “gangster style” approach by bringing targeted lawsuits against Ava Labs and Avalanche competitors.

Some of the alleged lawsuits include those against Solana Labs, Bibox and Dfinity Foundation.

The cases were also meant to have the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) among other regulators distracted, keeping them off Ava Labs’ operations.

It was also alleged Roche was filing cases with the aim of gaining access to sensitive documents from Ava Labs rivals and other crypto industry players. For his role, Roche ostensibly secured 1% of the AVAX supply.

No such underhand tactics

Gün Sirer has hit out at all these allegations, maintaining that his company does not “engage in or support” such underhanded tactics as claimed by CryptoLeaks. Refuting the allegations made in both the report and the video clips, he noted: 

“Neither I, nor anyone else at Ava Labs ever directed Roche in his selection of cases. We do not receive materials or information from him, and we do not entrust our legal affairs to him.”

How could anyone believe something so ridiculous as the conspiracy theory nonsense on Cryptoleaks? We would never engage in the unlawful, unethical and just plain wrong behavior claimed in these self-serving videos and inflammatory article. Our tech & team speak for themselves.

— Emin Gün Sirer🔺 (@el33th4xor) August 28, 2022

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Myria, an Ethereum-based layer 2 scaling solution, built to empower digital assets, NFT, and blockchain gaming, has today launched its much-awaited blockchain gaming-focused Ethereum layer-2 scaling solution, Myria L2.

Myria L2 will deliver instant and secure trades and zero gas fee transactions for non-fungible tokens (NFTs0 and blockchain gaming.

The Myria L2 launch included a full suite of developer and gamer-focused products including Myria Wallet, Developer SDK, and NFT marketplace. It will enable both creators and users to unlock scalability benefits offered by Myria.

After the launch, Myria co-founder, Brendan Duhamel, said:

“We are incredibly fortunate to have such a strong community eager to join the Myria L2. With this launch, the team is very thrilled to see our vision finally come to life.”

Duhamel also added:

“We are incredibly excited to bring the industry this next step forward with what we’ve built. We see massive potential in the underlying technology we have built to support NFT scalability and we believe blockchain gaming will be the next big vertical for NFTs. This is why we have created NFT solutions purpose-built to serve game developers and game builders. We’re just getting started!”

Myria L2

The Myria L2 utilizes zero-knowledge Rollup (Zk-Rollup) technology to bundle large numbers of transactions in a single transaction. It facilitates 9,000 transactions per second (TPS).

Blockchain gamers and NFT users, who are currently about 1.2 million, on Myria will now be able to create a Myria wallet with “one-click” and mint, trade and transfer NFTs with zero gas fee and 100% carbon neutral.

The Myria Developer Solution takes on an API-first approach that simplifies complex blockchain interactions with Myria’s set of REST APIs and SDKs. As a result, developers will be able to launch any NFT projects such as blockchain games within hours without having to be a blockchain coding guru.

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