Schlagwort: crypto business

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Uniswap v3 to deploy on Boba Network after approval by its DAO

  • Uniswap DAO has approved the deployment of Uniswap v3 on Boba Network.
  • The approval follows a favourable community vote.
  • The deployment will increase the total value locked and transaction volume on Uniswap.

Version 3 (v3) of Uniswap will be deployed on Boba Network (BOBA/USD) in the coming weeks following the recent approval by the Uniswap DAO. The DAO community conducted a vote on the proposal, which was backed by ConsenSys and FranklinDAO, and a majority voted for the deployment.

Following the deployment, Uniswap will have the opportunity to expand its community by including users from the Boba Network ecosystem which will significantly increase the decentralized exchange’s total value locked and transaction volume. As of press time, Boba Network had a total value locked (TVL) of $4,589,305.

The deployment will also bolster Uniswap’s presence in key Asian markets where Boba enjoys strong adoption.

The news comes roughly two weeks after the Uniswap community voted for Uniswap to be deployed on BNB Chain.

Uniswap ecosystem expansion

The deployment is an interesting development since Boba Network is built on Ethereum and it allows users to enjoy cheaper and faster transactions and decentralized exchanges (DEXs) like Uniswap use smart contracts rather than third parties to provide their customers with financial services like borrowing and lending.

According to the proposal:

“The Boba Foundation is granted an additional use grant to use the Uniswap V3 Core software code. As part of this additional use grant, the Boba Foundation receives a license to use the Uniswap Code to fully deploy the Uniswap Protocol v3 onto the Boba Network L2 on the Ethereum blockchain.”

Boba Network also told a popular media outlet that it had committed about $1 million worth of BOBA tokens to boost the adoption of Uniswap v3 on Boba. The tokens will be forwarded to a multi-sig wallet co-owned by Boba Foundation and Uniswap Grant Program. They will then be distributed to promising Boba-based projects.

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Binance to suspend USD deposits and withdrawals: report

  • Binance is reportedly set to suspend all US dollar (USD) deposits and withdrawals.
  • According to a crypto news report on the matter, the suspension starts on 8 February 2023.
  • Binance will reportedly continue to support all other payment methods, including bank transfers in another currently supported fiat currency.

Binance will temporarily pause US dollar deposits and withdrawals on its exchange platform, with the planned move expected to begin 8 February, 2023.

This is according to the latest cryptocurrency news  by CNBC.

Binance set to suspend USD deposits and withdrawals

On Monday afternoon, CNBC published a news story that said the world’s largest crypto exchange Binance was looking to briefly halt USD deposits and withdrawals beginning Wednesday this week. 

According to the details shared with CNBC by a Binance spokesperson, the upcoming USD-related pause will last a few weeks as Binance tries to secure a new banking partner. However, the issue will only affect a tiny number of the exchange’s monthly active users, said to be about 0.01%. Binance will reportedly notify all affected customers directly.

While the source offered no other information regarding the USD withdrawals being unavailable from the given date, they did confirm that customers can still buy and sell cryptocurrencies via all other supported payment methods. The exchange will also continue to support bank transfers via another fiat currency that’s currently supported, the person familiar with the issue said.

Binance is the largest crypto exchange by trading volume and has a US-based subsidiary Binance.US. The US-based unit, which is Financial Crimes Enforcement Network (FinCEN) regulated, has noted that the suspension will not impact its operations. 

In a tweet following the news, Binance.US said this would be the case unless there’s an official notice from them. In this case, the USD pause is likely to only impact customers using the global platform.

The price of Binance‘s native coin BNB was largely muted at the time of writing, changing hands around $328 at 15:05 pm ET.

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Marathon Digital produced a record number of bitcoin in January

  • Marathon reports a 45% sequential increase in its monthly BTC production.
  • The digital asset technology company also sold 1,500 bitcoin last month.
  • Wall Street sees upside in Marathon stock to a little under $12 on average.

Shares of Marathon Digital Holdings Inc have lost nearly 15% in recent sessions after the mining company said it did not mint nearly as many bitcoin last month as it sold.

How many BTC did it sell last month?

Marathon opted to sell a total of 1,500 bitcoin in January amidst a continued increase in the BTC price to fund its operational costs.

On the flip side, it minted a record 687 BTC last month that represents a whopping 45% sequential increase. In its monthly production and mining update, the management wrote:

Improvements in our operational efficiency, along with proactive measures we’ve taken to strengthen our balance sheet, have placed Marathon in strong position to achieve growth and operational targets in 2023.

Marathon stock has already more than doubled since the start of the year. Still, Wall Street is sticking to its consensus overweight rating on “MARA” and sees upside in it to a little under $12 a share.

Marathon Digital to continue selling BTC

A continued increase in production, as per Marathon Digital Holdings Inc, will see it further liquidate its BTC holdings moving forward to cover operational costs. The press release added:

We remain confident in our ability to scale Marathon into one of the largest and most energy efficient bitcoin mining operations globally by installing 23 exahashes of computing power near the mid of 2023.

According to Marathon Digital, it increased both its unrestricted cash and unrestricted BTC holdings last month to $133.8 million and 8,090 bitcoin, respectively.

Marathon is set to report its Q4 results early next month. Consensus is for it to swing to 19 cents a share of loss this quarter versus 36 per share it earned a year ago.  Last week, BlackRock confirmed that it now owns 8.62 million shares of Marathon Digital that represents 7.4% of the digital asset technology company.

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Binance introduces Binance Tax for calculating taxes on transactions

  • Binance Tax allows users to calculate taxes on up to 100,000 transactions.

  • The service is currently available to users in Canada and France.

  • Binance wants the tool to help its users keep up with their tax obligations.

Binance Tax is now available to users in France and Canada

Binance, the world’s leading cryptocurrency exchange by trading volume, announced on Monday, February 6th, that its Binance Tax tool is now available to its users in France and Canada.

In its blog post, Binance explained that the new tool is designed to help users calculate the tax obligations on their crypto transactions. This latest cryptocurrency news comes as more governments around the world look to ensure they don’t miss out on revenue from the crypto industry.

While explaining the tool, Binance wrote that;

“In one click, you can now import your Binance transactions into our calculator and obtain a simple yet comprehensive estimate of your tax obligations depending on your jurisdiction.

Binance Tax is still in an early launch phase, and as such, its algorithm does not yet cover all the types of transactions within our vast ecosystem. Binance users should adjust accordingly in their final tax report.”

Binance Tax can report up to 100,000 transactions

The world’s largest cryptocurrency exchange added that the Binance Tax tool is free for its users in Canada and France to use. The tool supports up to reportable 100,000 transactions, ensuring that most users will capture their cryptocurrency transactions on Binance during a select period.

However, Binance explained that the product is still in its early stage and might not support some products. 

The crypto exchange added that Binance Tax provides detailed information on the transactions users make on its platform. The information helps users file their taxes, including but not limited to: spot trades, crypto donations, and even blockchain fork rewards.

While the tool is only available to users in Canada and France at the moment, Binance could roll it out to its users in the United States and other parts of the world in the coming months or years.

The post Binance introduces Binance Tax for calculating taxes on transactions appeared first on CoinJournal.

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Crypto Billionaires Lose Billions in Crypto Markets – Experts Predict Metacade Will Soar

Crypto billionaires are among those that have suffered the worst from the crypto crash of 2022, seeing billions of dollars wiped from the value of their investments. As markets reeled from a string of big names in crypto filing for bankruptcy, such as Luna and FTX, and global economies struggling due to a raft of different challenges, crypto billionaires looked on in horror as the value of their holdings nosedived almost overnight.

These events shook investor confidence, but the good news for crypto billionaires and those looking to make their first steps into crypto investment is that some projects can still offer major potential gains. One of these is the new blockchain gaming platform, Metacade.

What is Metacade?

Metacade is the world’s first virtual online gaming arcade that harnesses blockchain technology to offer gamers the broadest array of play-to-earn (P2E) gaming titles coming to the metaverse. The project aims to bring together gaming enthusiasts in one central place, to build a community with like-minded individuals while empowering gamers and GameFi fans to determine the platform’s future direction.

P2E functionality is the primary attraction to pull gaming enthusiasts into the hub. Unlike many other metaverse gaming platforms that rely on a single title to attract gamers, Metacade’s comprehensive game library has something for gamers of every hue. From the casual gamer wanting to thrash their friends in a traditional Streetfighter-esq “beat-‘em-up” duel to the serious tournament gamer, everyone who takes part can earn crypto rewards.

How does Metacade work?

MCADE is the currency that provides fuel for Metacade’s platform. It underpins every facet of the project, providing the funding that flows into players’ wallets and supplying the impetus to position Metacade at the head of the metaverse gaming revolution.

Revenue is generated through several channels, some from the community and others from outside sources. Metacade members can invest MCADE tokens through staking to enter online tournaments and prize draws to share in lucrative prize pools as part of the Compete2Earn scheme, and by playing pay-to-play titles just as they would in a real-world video arcade.

External funding is sourced from advertising on the hub, selling space to other game developers to release games on Metacade through their launchpad program, and from Q1 2024 by allowing Web3 companies to post the most exciting career development opportunities on their job board as part of the innovative Work2Earn initiative.

Meanwhile, the community can access additional earning streams alongside the primary P2E mechanism. One of these is through success in Compete2Earn tournaments, while another is the Create2Earn platform, where users are rewarded in crypto for social interactions with the hub. The more content they create, the more they earn through contributions such as game reviews, knowledge sharing, and engaging in live chats.

Metacade: Driving GameFi innovation

One of the most novel ideas fuelling interest in Metacade is their ground-breaking Metagrants scheme which looks set to evolve the platform to new heights while providing support for the wider Web3 sector through the promotion of and investment in new ideas.

Developers are encouraged to submit ideas for exclusive new games into a pool, whereby MCADE token holders can vote on them. The most popular submissions are granted funding from the platform’s treasury wallet to bring developers’ ideas into reality. The scheme launches in Q3 2023, with the first title to be launched in Q1 2024.

The Metagrants scheme provides the Metacade community with greater autonomy in determining the direction of the hub and opens up access to some of the best and most exciting new titles within Web3, with fully community-endorsed games filling the platform’s arcade.

Could MCADE reach $1 in 2023?

The hype generated by Metacade through its presale event has seen a phenomenal $5.4m raised in only 10 weeks. That figure continues to shoot up as as investors flock to MCADE, cementing it as potentially one of the best crypto investments of the year.

The price of MCADE is currently $0.013 and will increase in value to an eventual level of $0.02 when the presale ends. Predictions are that once MCADE hits the exchanges, interest could soar. With presale investors retaining their holding to see what gains can be made and new investors scrambling to get their hands on the remaining supply, forecasts of MCADE surging through the $1 barrier in 2023 are not unrealistic.

Buy MCADE now: The best GameFi investment of 2023

At $0.013, MCADE looks undervalued, even considering current bearish market conditions. The hugely popular and well-conceived roadmap, combined with the vast long-term potential of Metacade, means it could be an outstanding investment opportunity in 2023.

While investing in MCADE won’t quickly replace the lost billions of crypto billionaires, it does represent an great crypto investment for any crypto investor.

You can participate in the Metacade presale here.

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