Crypto News Archive - Seite 1556 von 1894 - Finanzmittel Info + Krypto + Geld + Gold

7. Juli 2022

SSV DAO allocates $10 million to solidify the future of ETH staking

The Ethereum network will soon leave its proof of work mechanism and migrate to a proof of stake.

SSV DAO, the body responsible for building ssv.network, announced earlier today that it will distribute grants to development teams to help decentralise Ethereum’s consensus layer in preparation for its transition to POS.

According to the press release shared with Coinjournal, SSV DAO revealed that it had allocated over $10 million in assets to boost staking activities on the Ethereum network.

This latest development comes after SSV DAO partnered with some industry-leading companies including Coinbase, DCG, and Okex. As a result of these partnerships, SSV DAO is increasing its effort to build the staking infrastructure needed for other decentralised staking applications.

SSV DAO is now encouraging developers to apply for grants and participate in bug bounties and incentivised testnets.

The DAO is set to allocate over $3 million to open and pre-defined grants aimed toward developers to build applications, staking pools, and other tools needed by the network.

It will allocate another $3 million towards bug bounties, while a whopping $4 million is available for incentivised programs for early adopters and testers. These funds would be available to developers in USDC, ETH, and SSV tokens.

Alon Muroch, the head of SSV Protocol commented that;

“The Ethereum community has identified DVT as a crucial component in ensuring that the protocol remains decentralized and secure. We encourage development teams to join the Grant Program and unlock distributed staking on Ethereum for the next billion users.”

According to SSV DAO, developers in the space including RockX, Swell, Forbole, and Ankr have submitted and received roughly $1M in approved grant requests since March.

The team now intends to scale the grant program and invite more companies and developers to build projects on top of the SSV protocol.

Ssv.network provides developers with a stable infrastructure that allows them to build liquid staking protocols, delegation services, and staking pools. The network also solves the blockchain trilemma of centralisation, scalability, and security that have existed since Ethereum’s inception.

The post SSV DAO allocates $10 million to solidify the future of ETH staking appeared first on CoinJournal.

7. Juli 2022

Solana wallet Solflare integrates FTX to offer seamless CeFi and DeFi connectivity

Solana wallet Solflare has released an integration with top crypto currency exchange platforms FTX.com and FTX US, allowing users access to a simple interface to their Solana DeFi and NFT portfolios.

The integration will work via Solflare web extension and mobile app, with Solana users able to connect their accounts at FTX.com and FTX US to the wallet. Users will have access to funds held in their exchange accounts directly from their wallet.

Transactions are automated and include the FTX Convert feature that allows for token swaps straight from the wallet.

Making CeFi and DeFi seamless

With the extension and app, Solana users can also tap into more across DeFi and NFTs as they effortlessly manage asset deposits and withdrawals from their FTX account.

Users can also access liquidity from FTX’s deep books to supplement that of Raydium and Serum, as well as venture into NFTs via the wallet’s support for deposits, withdrawals and visualization.

Solfare says the integration will help connect Web2 and Web3, offering users the benefits of a seamless experience all in one app. It brings centralized finance (CeFi) and decentralized finance (DeFi) under one app.

Filip Dragoslavic, co-founder of Solflare commented:

“FTX is probably one of the most popular centralized exchanges for DeFi users, especially on Solana. Integrating the two connects both worlds and turns it all into one seamless experience. You can command your FTX account without ever leaving Solflare, and confirming that your wallet address is indeed one unique human registered on FTX might enable many, new web3 opportunities.”

Solflare is a native Solana wallet and supports multiple functionalities, including staking and advanced NFT interactions. The wallet also offers Ledger support.

The post Solana wallet Solflare integrates FTX to offer seamless CeFi and DeFi connectivity appeared first on CoinJournal.

7. Juli 2022

Crypto exchange Bitwells announces 777 BTC giveaway

Bitwells, a leading crypto derivatives exchange, has launched a 100% deposit bonus for new signups in a program that will see the exchange give away a total of 777 bitcoins (BTC).

The promotion is geared toward rewarding those traders who deposit up to 10 BTC where a trader will be given a matching bonus equal to the amount he/she deposits.

If a user deposits, 1 BTC, for example, they will get a total of 2BTC credited to their account while a trader that deposits a maximum of 10 BTC will get 20 BTC credited to their account.

The move is aimed at establishing Bitwells as a leader in the field of crypto derivatives since the promotion is one of the most generous promotions within the industry.

Besides, it is an attractive opportunity for traders looking to benefit from intraday trades, especially at the moment when the crypto market is highly volatile.

How the deposit bonus works

Most importantly, the matching bonus is not withdrawable. However, it can be used as a margin to open bigger positions that entitle traders to higher profits if the market speculation is correct.

Any profit made when using the bonus as a margin is wholly withdrawable.

In essence, the bonus ensures the safety of the traders’ capital especially when the market goes against their speculation. Normally, without margin, the capital is easily wiped away if the market experiences large price swings.

Bitwells is a renowned crypto derivatives platform that offers 100X leverage on ETH, LTC, EOS, XRP, and BTC futures contracts and the matching bonus goes a long way in giving traders more exposure during trades.

The post Crypto exchange Bitwells announces 777 BTC giveaway appeared first on CoinJournal.

7. Juli 2022

Equilibrium integrates Polygon for cross-chain DeFi solutions

Equilibrium has announced Polygon integration as it aims to offer cross-chain DeFi solutions to both projects and users of the Polygon Network ecosystem. Following the integration, Equilibrium will allow Polygon users to leverage the innovations and advantages of the Equilibrium DeFi 2.0 platform.

Developers will also be able to build scalable solutions that feature cross-chain interoperability and communities of both parties will leverage the advantages of the integration.

Equilibrium and Polygon integration uses cases

Polygon’s integration with Equilibrium offers unlimited benefits to both sides. MATIC holders, for example, will be able to use their tokens to borrow assets on Equilibrium and the borrowed assets can be moved through the ecosystem and even exchanged on the decentralized exchange of Equilibrium.

Borrowers will require low collateralization of 105%, which is 20X the leverage.

Additionally, users will have the advantage of diversifying the risk of the volatile market and also get payable interest at the lowest possible rates. Users will even have the opportunity to go short on their MATIC holding using the same amount of ETH.

Following the integration, Equilibrium is planning to expand its reward program to users. Users will be able to easily earn an average APY of 10% to 20 %. Users earn APY in Equilibrium depending on the provided liquidity. The higher the provision the higher the APY.

Users will also be able to earn interest from their holdings by providing insurance to the network. The insurance comes in handy when circumstances cause panic among the community members.

Following the integration Polygon will drive the transaction fees to a fraction of a cent for cheaper movement of both crypto assets and stablecoins between partners.

Aave, which runs of Polygon, will allow users to use its AAVE tokens as collateral to borrow funds from Equilibrium.

The integration will also see JellySwap and Dfyn Network protocols allow their users to move assets to Equilibrium for locking in pools to earn interest.

Currently, the assets borrowed on Equilibrium are moved across the Polkadot ecosystem using the XCM Communications between Polkadot parachain. However, in the future, Equilibrium plans to EQD liquidity and EQ to the Polygon Chain as ERC20 compatible smart contracts.

The post Equilibrium integrates Polygon for cross-chain DeFi solutions appeared first on CoinJournal.

7. Juli 2022

eToro cancels Nasdaq listing

After hinting at plans to go public before the end of this year, eToro has today announced that it has canceled all plans for public listing on the Nasdaq stock market.

Nasdaq had initially signed an agreement with a top firm called Fintech Acquisition Corp V, a company that does mergers and asset acquisitions, for a public listing on Nasdaq and all systems were go for the public listing. However, the two companies have settled on a mutual agreement for eToro not to go public yet.

eToro noted that there will be no need for paying any fees after canceling the agreement since the termination was mutually agreed on by the two companies.

eToro finances are fine

Dispelling fears of eToro being in a financial crunch, the CEO, Yoni Assia, in a statement stated that eToro remains committed to providing core services and it is still in a good financial position.

Interestingly, the CEO went ahead to say that eToro had seen massive revenue growth in the second quarter of this year compared to the end of last year even as the crypto market continues to undergo a meltdown.

eToro has been rigorously fighting the effects of the declining crypto market and announced cutting about 100 employees last week due to the market conditions.

The cancellation of the agreement to have eToro go public is bad for both eToro and Fintech Acquisition Corp V.

The post eToro cancels Nasdaq listing appeared first on CoinJournal.