Author: chainwire

Labuan, Malaysia, May 26th, 2023, Chainwire

Cerus Markets is thrilled to announce an exciting update to its leverage options for non-crypto instruments. Effective immediately, Cerus Markets clients can enjoy leverage of up to 400:1 for Forex, Commodities, Indices, and Single Stocks trading.

This increase in leverage options allows traders to make the most of their investments, providing greater market exposure and the potential for higher returns. By offering increased leverage options for non-crypto instruments, Cerus Markets aims to provide clients with even more opportunities to capitalize on market movements.

At Cerus Markets, the company prides itself on its commitment to providing clients with the best possible trading experience. This update is just one example of the company’s dedication to ensuring that clients have access to the best tools and trading conditions.

About Cerus Markets

Established in 2022, Cerus Markets Limited is a multi-asset broker authorized and regulated by the Labuan Financial Service Authority, Malaysia. With a focus on innovation, Cerus offers unique crypto derivative products that allow clients to trade over 200 instruments paired with cryptocurrencies. Alongside crypto derivatives, Cerus provides trading opportunities in FX, Commodities, Indices, and Single Stocks.

Cerus Markets believes in empowering traders of all levels with easy and affordable access to the market. The trading platform stands out from traditional brokers by not charging entry fees and allowing trading of a wide range of digital assets starting from just $50, with leverage up to 400:1.

Moreover, traders can benefit from a 100% deposit matching bonus, doubling the amount of their first deposit and further enhancing their trading experience.

Visit cerusmarkets.com to learn more about Cerus Markets and its offerings.

Instagram l Twitter l Telegram

Contact

Marketing Director at Cerus Markets
Veronica Imasheva
marketing@cerusmarkets.com

Renton, United States, May 25th, 2023, Chainwire

Stably, a leading Stablecoin-as-a-Service (SCaaS) and fiat on/off-ramp infrastructure provider for Web3 projects, is aiming to revolutionize the nascent Bitcoin ordinals market by launching its US Dollar (USD)-backed stablecoin, Stably USD, as a natively-issued BRC20 token under the symbol #USD. This groundbreaking development marks a critical milestone in the exponentially growing Bitcoin ordinals ecosystem that is now reaching half a billion dollars in total market capitalization in less than six months.

#USD is a BRC20 standard stablecoin created via the Bitcoin ordinals protocol which was introduced in January 2023 after the recent Taproot upgrade. BRC20 tokens use a technique called ordinal inscriptions to attach data to individual “satoshis,” the smallest unit of a Bitcoin. These satoshis can then represent anything from digital art ownership to “meme coins” and even stablecoins.

According to Stably, every #USD token is backed 1-to-1 with USD in a collateral account managed by a US-regulated custodian for the benefit of KYC/AML-verified token holders. Monthly reports for the account are also conducted by a third-party stablecoin attestor to ensure #USD tokens are always fully collateralized with USD.

“When I met Domo, the creator of the BRC20 standard, at the Bitcoin 2023 conference in Miami, I told him about our upcoming plans for #USD,” said Kory Hoang, Stably’s CEO and Co-Founder. “He thought it was great and funny how we are creating a stablecoin on Bitcoin to enable Bitcoin trading on-chain… With a stablecoin built on Bitcoin. I’m still chuckling about it to this day, actually. In just one week after that, however, we made it happen!”

The integration of BRC20 #USD into the Bitcoin network is part of Stably’s mission to power the next billion Web3 users with a seamless fiat-to-crypto and stablecoin onramp to all popular and emerging blockchain networks. The company’s upcoming collaborations with prominent ordinals and BRC20 projects, including UniSat–the world’s largest decentralized wallet/marketplace for ordinals–and Ordzaar–Asia’s first decentralized ordinals marketplace project, reflect Stably’s aspiration to drive global innovation and adoption toward decentralized finance on the Bitcoin network, or “BitFi.” Additionally, Stably’s engineers are now exploring the new ORC20 standard for Bitcoin ordinals, which could significantly enhance the token properties of #USD once implemented. 

#USD can be issued/redeemed with Fedwire, SWIFT, USDC, and USDT by KYC-verified users across 200+ countries/regions currently, including up to 44 US states. Stably states that it is employing a manual process of issuance/redemption for #USD’s initial launch but plans to release support for automatic issuance/redemption through Stably Ramp, the company’s plug-and-play fiat gateway widget, during Q3 2023. By then, users of #USD will be able to on/off-ramp via more traditional payment methods like ACH, instant ACH, and credit/debit cards, in addition to bank wires.  

Founded in 2018, the 20+ team member Seattle FinTech is backed by leading institutional and angel investors in the crypto space, such as Morgan Creek Capital, BEENEXT, 500 Startups, Hard Yaka, CREAM Labs, Sunny Lu of VeChain, and Paul Stahura of Donuts, Inc. The company has raised over $7.5-million in total funding to-date, $5-million of which was collected during its last Pre-Series A round in December 2021. Stably has also expanded its fiat on/off-ramp and stablecoin natively to more than ten emerging networks, including Arbitrum, XRP Ledger, Stellar, Tezos, VeChainThor, Harmony, Polymesh, Coreum, ICON, and Chia Network.

About Stably

Stably is a Web3 payment infrastructure provider and FinCEN-registered MSB from Seattle. The company specializes in providing stablecoins and fiat <> crypto on and off-ramps to users of Web3 applications. Stably’s mission is to power this decade’s next billion Web3 users with regulatory-compliant payment infrastructure across both developed and emerging blockchain ecosystems.

Visit stably.io to learn more.

Risk Disclaimer: Digital assets involve significant risks, including (but not limited to) market volatility, cybercrime, regulatory changes, and technological challenges. Past performance is not indicative of future results. Digital assets are not insured by any government agency and holding digital assets could result in loss of value and even principal. Bridged or wrapped digital assets (e.g. WBTC) involve additional risks, such as technical challenges, higher fees, security vulnerabilities, and reliance on third-party custodians. Please conduct your own thorough research and understand potential risks before purchasing/holding digital assets. Nothing herein shall be considered legal or financial advice. For more information about the risks and considerations when using our services, please visit: stably.io/terms-of-service.

Contact

Stably Head of Marketing
Matthew Barrett
Stably
matt.barrett@stably.io

Tokyo, Japan, May 25th, 2023, Chainwire

Herencia Artifex promotes collaboration across art world boundaries and provides a venue for artists of different backgrounds and styles to come together and produce creative works.

The project name “Herencia Artifex” (abbreviated HXA) is Latin for “Herencia” (inheritance) and “Artifex” (artist). The HXA project aims to use NFT to pass on outstanding artists and crafts.

This genre-transcending artistic collaboration in the Web3 space will give birth to new art forms and expressions, contributing to enriching the field of art. The creators are determined to create a realistic artistic experience through the NFT collection.

NFT First “Gizan Katoh”

The first NFT “Gizan Katoh” is a collaboration with Gizan Kato, a Buddhist priest and the main artist of the exhibition, and is based on his work “Kirin” (Qilin).

“Kirin” is a phantom animal said to bring good fortune and to appear in a peaceful world in Japan. The “Qilin” will be reborn as a NFT by Mora, a 3D Artist

The collection has a variety of colors for sale as well as standard designs. In total, 600 NFTs will be sold, with only 15 of each special design.

The collection will be available in multiple colors and will be released all together at the beginning of June on OpenSea. The collection is currently on sale, ending on June 31.

Future development

The second NFT “Nails by mei” ( https://www.instagram.com/nailsbymei/#)

“Nails by mei”, will be a collaboration with Mei Kawajiri, an artist whose original and unconventional nail designs captivate the world and are supported by many celebrities and other famous people.

The team is excited to see her designs for HXA. In addition to NFT, the creators will also be developing a realistic art collaboration with Gisan Kato.

Photo Credit：Photo by Luisa Opalesky

Mora Vieytes (3D Artist & Designer)

https://moravieytes.com/

3D artist & designer with a focus on playful 3D illustrations, lettering, design and GIFs

About Herencia Artifex

Herencia Artifex NFT collections is for art purposes. NFT owners will have prioritized access to special events and community participation rights.

Website: https://www.nft.herenciaartifex.io/  

Twitter: https://twitter.com/HerenciaArtifex

Discord: https://www.instagram.com/herencia_artifex/  

Instagram: https://discord.gg/H8YSZbN9DT

Contact

Mizue
info@templecoin.io

Braga, Portugal, May 22nd, 2023, Chainwire

MetaStudio, a renowned Portuguese game studio, has announced a new partnership with Immutable, a leading Ethereum Layer 2 scaling solution provider, aimed at transforming the gaming metaverse.

MetaStudio has been recognized for its innovative games and games-as-a-service offerings, along with their unique non-fungible token (NFT), Rune Realms, which offers holders a chance to partake in a 10% revenue share in the studio’s earnings. By integrating with Immutable’s Layer 2 blockchain infrastructure, MetaStudio can provide players with a dynamic gaming experience and unique benefits such as zero gas fees for peer-to-peer trading and secure ownership of in-game assets.

Immutable is an ideal partner for us,” said Carlos Domingues, CEO of MetaStudio. “Their Ethereum Layer 2 solution enables us to offer our players genuine ownership of their in-game assets and the ability to profit from their gameplay. And their upcoming passport feature allows us to keep developing with web2 players in mind. This partnership will help us to develop games that are not only entertaining but also rewarding.

This partnership comes at a time when interest in the metaverse is increasing rapidly. As a collective virtual shared space created by the convergence of virtually enhanced physical and digitally created reality, the metaverse offers significant opportunities for innovative gaming experiences. The partnership between Immutable and MetaStudio is expected to contribute significantly to this evolution.

In addition to the partnership with Immutable, MetaStudio is also collaborating with several other leading companies in the gaming industry:

Metacade – A comprehensive ecosystem for users to play, earn, build, and connect in Web3.

Somnio – the company behind Matafuse a NFT hosting and management platform designed for content creators and developers to streamline the creation and distribution of their imagination.

Together, these partnerships signal MetaStudio’s commitment to advancing the gaming industry and providing exceptional experiences for players.

MetaStudio’s team brings a wealth of experience to this endeavor, with co-founders who have contributed to major projects in the entertainment industry, including “Kung Fu Panda,” “Pirates of the Caribbean,” “Transformers,” and “Guild Wars.”

Players who are interested in the new opportunities presented by this partnership can mint their Rune Realms NFT and partake in the future of gaming with MetaStudio. By doing so, players also become eligible for a 10% revenue share, presenting a unique opportunity to tap into a growing industry currently estimated to be worth nearly 200 billion dollars.

About Immutable

Immutable is an Australian technology company that uses blockchain technology to improve the gaming industry. Its Ethereum Layer 2 scaling solution, Immutable X, provides a zero-gas layer for Ethereum that ensures secure trading and ownership of digital assets.

About MetaStudio

MetaStudio, based in Braga, Portugal, is a leading game studio that develops engaging mobile games and provides games-as-a-service. MetaStudio integrates innovative game designs with blockchain technology and unique NFT offerings to enhance player engagement and community growth.

Join Metastudio on Discord & Twitter

Contact

CEO
Carlos Domingues
MetaStudio
carlos@metastduio.pt

Tortola, British Virgin Islands, May 24th, 2023, Chainwire

CEDEN Network Ltd has acquired Galaxy Rendered Limited for an undisclosed sum, strengthening the foundation of the EDEN Content Creation Ecosystem with a wholly owned subsidiary Web3 development studio and its debut metaverse game title, Rocket Monsters.

Galaxy Rendered Limited is an innovator in Web3 gaming, developing the Play to Earn (P2E) PVP game, Rocket Monsters, which currently features two playable alpha levels, and is nearing launch of the full playable beta open world experience.

Andrew Woodward, Founder and CEO of Galaxy Rendered Limited, has joined the CEDEN Advisory Board, following the sale of his company to CEDEN. In this capacity, Andrew will continue to advise on the development of Rocket Monsters and the dynamic ecosystem that the Galaxy Rendered team has cultivated over time.

Galaxy Rendered development and art teams have also remained with the company following the ownership transition, adding significant experience and depth to the CEDEN team.

Galaxy Rendered has crafted a unique digital gaming universe with Rocket Monsters, featuring both PVP and PVE immersive environments. Rocket Monsters is a multi-faceted game in which the bears and other extraterrestrial monsters navigate the vast playable environments using interstellar vehicles, engage in thrilling open-world PVP confrontations with the enemies, and battle for the opportunity to harvest valuable resources. All the in-game characters, weapons, vehicles and resources can be purchased, sold, and transferred as digital assets.

CEDEN will refine and continue to deliver the existing roadmap of Rocket Monsters, including consolidating and growing the vast NFT collections that exist in the ecosystem currently, and preparing the Rocket Monsters universe for the beta launch of the open world which will include the introduction of playable NFT vehicles called Star Racers, player owned land and shops, and the vast resource collection system that is the foundation of the ecosystem.

“With the successful acquisition of Galaxy Rendered, CEDEN’s vision of being a Network-as-a-Service (NaaS) infrastructure powerhouse, serving a vast and diverse range of content creators, is coming to fruition,” remarked Alex Moody, CEO of CEDEN. “Our team and the advisory board have experts from both Web2 and Web3 gaming, marketing resources, and the tools to empower interactive games like Rocket Monsters. We are excited for what this adds to the CEDEN Network’s content delivery network (CDN), along with offering CEDEN Mint Pass holders preferential access to minting opportunities, airdrops and rewards from games within the ecosystem, including Rocket Monsters.”

Andrew Woodward, the CEO of Galaxy Rendered Limited, expressed enthusiasm about the acquisition, emphasizing Rocket Monsters’ ambition to evolve into a Web3 game that transcends traditional blockchain limitations and embraces a multi-chain future for Web3 gaming. He anticipates a seamless, engaging gaming experience, made possible through the use of CEDEN’s Web3 toolkits and peer-to-peer network.

Since launching two months ago, CEDEN has announced two additional significant partnerships and investments, including with the up-and-coming Brooklyn-based game development studio, K11 UNLIMITED, and the LA-based game studio, Gammaker Inc.

Michael Haller, CEDEN’s Head of Gaming and the Executive Chairman of Gammaker Inc, commented: “The strategic value of these partnerships is invaluable as they leverage CEDEN’s infrastructure toolkit while delivering a steady flow of high-quality content for NFT node operators.”

Throughout the month of April, CEDEN successfully minted 3,333 CEDEN Mint Passes, each providing entry into the dynamic CEDEN ecosystem. Looking forward, the third quarter will herald the arrival of Keystone NFT Nodes at CEDEN. This collection, comprising 10,000 NFT Nodes, will lay the groundwork for the CEDEN Network — a decentralized, peer-to-peer (P2P) Content Delivery Network (CDN) — designed to help the gaming industry to transcend the limitations of the past.

It’s time to move beyond the machine.

About CEDEN

CEDEN is a Network-as-a-Service (NaaS) open-source infrastructure company empowering content creators in gaming and the metaverse industry. CEDEN is empowering a diverse array of content creators such as gamers, designers, NFT artists, and game publishers. The CEDEN team continues to grow the ecosystem, providing support through gaming distribution channels, monetization opportunities, and expanding their interactive entertainment toolkits, agency and publishing services, and Web3-as-a-Service (W3aaS) products to the broader industry.

For more information please visit linktr.ee/ceden_network

Contact

CMO
Sook Hwang
CEDEN
sook@ceden.network

London, United Kingdom, May 23rd, 2023, Chainwire

AltSignals (ASI), the revolutionary new AI-powered trading signals provider, continues to make waves in the crypto world by announcing its token presale has stormed past the $750k milestone.

AltSignals’ native token, ASI, has achieved success during its presale phase and continues to demonstrate growth. ASI is currently available at $0.015 during stage 1 of its presale, with the imminent second stage set to increase the price by 25% to $0.01875. The value will eventually increase to $0.02274 at the end of the presale before listing on exchanges, at a 52% rise from today’s price. 

Rod Phim, CEO of AltSignals, welcomed the good news. “We’re thrilled that people have shown confidence in us and what we bring to the table. We have already seen the impact AI has had on a variety of industries, and we’re using this cutting-edge technology to better serve our users. Passing $750k in our current presale raise shows how promising our offering is. The news couldn’t have come at a better time to coincide with the product development, as discussed in our recent AMA.”

AltSignals’ new AI layer, ActualizeAI, will diligently scan the markets 24/7, providing real-time trading insights and opportunities that can be factored into the programmes that generate the signals. The developers will aim to use this additional data to improve the accuracy of their existing trading signals, and increase the reliability of the service consistently over time.

The AltSignals team is currently focused on developing trading objectives and strategies, including programming risk levels. Building this into the AI will be essential for catering to a wide range of users engaging in both traditional markets and digital assets. Risk analysis is being supported by a data-acquiring exercise that looks at historical price data, fundamental data and other data streams, which will be cleansed and pre-processed before being fed into the AI engine.

AltSignals has a significant user base who are actively trading using its indicator service and will become the first cohort to test the new AI. The team confirms the confidence has grown in AltSignals during its ASI token presale and is generating growth metrics around digital asset communities around the future of the token.

Phim added, “We hope the $750k raise milestone encourages more people to potentially invest in our offering and token, as we clearly have a proven track record of success after thriving for 5 years in what is a very competitive market.”

About AltSignals

AltSignals has been providing leading algorithm-based indicators and signals to its 52,000 members since 2017. Priding itself on transparency, the strength of its service and indicators is backed up by almost 500 reviews on Trustpilot, with an average score of 4.9/5.

The business plans to grow on the achievements of its existing proposition by developing a new AI layer, ActualizeAI, to massively increase the accuracy of its trading signals and provide its users with invaluable indicators to keep them ahead of the markets.

Find out more about AltSignals and participate in ASI’s presale here.

Contact

CEO
Rod Phim
AltSignals
press@altsignals.io

Paris, France, May 23rd, 2023, Chainwire

OKX, the world’s second-largest crypto exchange by trading volume and a leading Web3 technology company, today announced it has filed application in France to become a registered Digital Asset Service Provider (DASP) under the rigorous requirements set out by Autorité des Marchés Financiers (AMF) and the Autorité de Contrôle Prudentiel et de Résolution (ACPR).

OKX’s decision to register with the AMF follows the company’s incorporation of OKX France in April and demonstrates its dedication to growing its European presence, with France as a significant hub. Registration with the AMF will enable OKX to offer a suite of products and services to customers in France in full compliance with local regulations.

OKX Head of Global Government Relations Tim Byun said, “The French DASP regulation provides a clear and secure regulatory framework for digital asset service providers. Coupled with the growing number of registered DASPs in France, OKX looks forward to growing the French ecosystem in a safe and sound manner. For OKX, this application is a huge opportunity to demonstrate our commitment to support new regulatory frameworks as well as to plan for the future with MiCA coming onboard in 2024 for the entire European Union.”

Beyond the sound and transparent regulatory framework it offers, France has positioned itself as the European hub for OKX due to its high concentration of crypto enthusiasts and experienced traders and the highly qualified workforce available, necessary to OKX’s development.

Jean-Noël Barrot, Minister Delegate to the Ministry of Economy, Finance and Industrial and Digital Sovereignty, in charge of Digital Transition and Telecommunications said. “We are delighted that OKX selects France for expanding its operations in Europe. This decision confirms France’s aspirations to become a key player in Web3 technologies, a vision that has been championed by President Macron and Minister Bruno Le Maire since 2017. French authorities’ deep expertise and experience in the crypto-asset sector enable OKX to benefit from a consistent and robust approach, throughout its licensing process and beyond. OKX’s decision is a testament to the success of the French government’s policies aimed at nurturing a resilient and secure innovative crypto-asset sector. We are more convinced than ever that France has all the necessary elements to become a worldwide leader in Web 3 innovation and digital economy.”

Compliance, regulation and transparency are critical factors for the success of the crypto and blockchain industry. Over the years, OKX has taken measures to ensure compliance, including growing its international compliance team, as well as actively fighting fraud and ransomware. In terms of transparency, OKX is continuously enhancing the approach to exceed market standards and achieve real-time, trustless verification of reserves, liabilities and solvency.

In March, OKX announced that it would apply for virtual asset service provider licences in Hong Kong. It’s currently licensed in the Bahamas and has a provisional licence from VARA in Dubai.

Hong Fang, OKX President said: “Our dedication lies in broadening our reach and involvement with European regulators, and we consider our operations in France to be crucial in this endeavour. We are excited to maintain our collaboration with the AMF as we extend the use of our product portfolio in France, presenting individuals and businesses with a secure and efficient approach to exchanging value. As a Web3 leading company, we are looking forward to introducing French people to all the amazing projects we are working on.”

About OKX

OKX is a world-leading technology company building the future of Web3. Known as one of the fastest and most reliable crypto trading platforms for investors and professional traders everywhere, OKX’s crypto exchange is the second largest globally by trading volume and is trusted by more than 50 million users.

OKX’s leading self-custody solutions include the Web3-compatible OKX Wallet, which allows users greater control of their assets while expanding access to DEXs, NFT marketplaces, DeFi, GameFi and thousands of dApps.

OKX partners with a number of the world’s top brands and athletes, including: English Premier League champions Manchester City F.C., McLaren Formula 1, The Tribeca Festival, golfer Ian Poulter, Olympian Scotty James, and F1 driver Daniel Ricciardo.

OKX is committed to transparency and security and publishes its Proof of Reserves on a monthly basis.

To learn more about OKX, download our app or visit: okx.com

Disclaimer

THIS ANNOUNCEMENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY. IT IS NOT INTENDED TO PROVIDE ANY INVESTMENT, TAX, OR LEGAL ADVICE, NOR SHOULD IT BE CONSIDERED AN OFFER TO PURCHASE, SELL, OR HOLD DIGITAL ASSETS. DIGITAL ASSETS, INCLUDING STABLECOINS, INVOLVE A HIGH DEGREE OF RISK, CAN FLUCTUATE GREATLY, AND CAN EVEN BECOME WORTHLESS. OKX IS NOT REGULATED BY THE FCA, THUS, PROTECTIONS SUCH AS THE FINANCIAL OMBUDSMAN SERVICE OR FINANCIAL SERVICES COMPENSATION SCHEME WILL NOT BE AVAILABLE. YOU SHOULD CONSIDER WHETHER YOU UNDERSTAND HOW CRYPTO WORKS AND WHETHER TRADING OR HOLDING DIGITAL ASSETS IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. THE VALUE OF YOUR DIGITAL ASSETS, INCLUDING STABLECOINS, CAN INCREASE OR DECREASE AND PROFITS MAY BE SUBJECT TO CAPITAL GAINS TAX. PAST PERFORMANCE DOES NOT INDICATE FUTURE RESULTS. PLEASE CONSULT YOUR LEGAL/TAX/INVESTMENT PROFESSIONAL FOR QUESTIONS ABOUT YOUR SPECIFIC CIRCUMSTANCES.

Contact

Media
OKX
media@okx.com

Toronto, Canada, May 16th, 2023, Chainwire

Conflux Network, the first regulatory compliant public blockchain in China and global communications network, China Telecom, today unveiled its jointly developed Blockchain SIM (BSIM) card at the Xuhui District West Bank Artificial Intelligence Center in Shanghai. 

In a world first, the BSIM card is a mobile user identification card based on blockchain technology. With an appearance nearly identical to traditional SIM cards, the BSIM card is fully compatible with mainstream mobile terminal systems such as Android and iOS. It also boasts storage space 10-20 times larger than traditional SIM cards and computing power several dozen times greater. 

Alongside traditional communications functions, the BSIM card also can generate and store users’ public and private keys within the card. By performing digital signatures in a “private key never leaves the card” manner, the card reduces the risk of users’ mobile terminals being targeted by malware and virus software attacks. Furthermore, the BSIM card can implement encrypted storage, key recovery functions and even integrate traditional U-shield functions. Leveraging the hardware security advantages of the BSIM card to protect users’ private keys. It is currently the safest and most convenient Web3 user terminal entry solution available.

During the launch event, Dr. Wu Ming, CTO and Co-Founder of the Conflux Network, successfully transferred a Commemorative NFT of the China Telecom and Conflux Partnership by pressing the send button within the app. This marked the first on-chain, public use of the BSIM card, as the NFT was transferred from the BSIM card account of Shanghai Conflux Research Institute to the BSIM card account of China Telecom.

Dr. Wu Ming from Conflux stated: “From now on, all mobile communication users can obtain a more secure digital identity through mobile terminals and access Web3 and the metaverse with minimal technical barriers. Blockchain technology has evolved beyond its reputation as a complex and inaccessible concept, transforming into a truly practical infrastructure for applications in the global economy and people’s daily lives.”

Li Anmin, Deputy Dean of the Research Institute at China Telecom Group added: “We are committed to working alongside Conflux Network in developing and promoting practical communication solutions tailored to meet genuine user needs. The BSIM card is just a first step as we collaborate in exploring a diverse range of application scenarios and supplementary products, made possible through the innovative integration of blockchain technology with modern communication advancements.”

The BSIM card will be piloted in Hong Kong before being gradually introduced to mainland and overseas markets.

About Conflux Network

Conflux is a permissionless Layer 1 blockchain connecting decentralized economies across borders and protocols. Recently migrated to hybrid PoW/PoS consensus, Conflux provides a fast, secure, and scalable blockchain environment with zero congestion, low fees, and improved network security.

As the only regulatory-compliant public blockchain in China, Conflux provides a unique advantage for projects building and expanding into Asia. In the region, Conflux has collaborated with global brands and government entities on blockchain and metaverse initiatives, including the city of Shanghai, McDonald’s China, and Oreo.

Contact

Melissa Tirey
melissa@shift6studios.com

Cape Town, South Africa, May 15th, 2023, Chainwire

NFTfi, a leading NFT lending platform, has launched the next phase of its loyalty program NFTfi Rewards. In Earn Season 1, users can get rewarded with exclusive reward points for borrower-friendly loans and responsible lending behavior.

The NFT space is growing rapidly, and healthy credit markets are fundamental to its overall growth. NFTfi’s Earn Season 1 reward structure has been designed with this in mind, to incentivize responsible NFT lending and contribute positively to the overall NFT ecosystem.

Stephen Young, Co-Founder and CEO at NFTfi says: “We believe that NFT lending is a crucial part of the future of the NFT space, and we’re committed to promoting a healthy and non-predatory lending environment through our new loyalty program.”

The principles by which Earn Points are calculated are the following:

• Only repaid loans earn points: Aims at motivating lenders to carefully manage default risk via conservative LTVs, and borrowers to not take out excessive debt they might not be able to repay.
• Larger and longer loans earn more points: Aims at motivating lenders to provide borrowers with flexible access to various loan sizes and loan durations. 
• Lower interest rate (APR) loans earn the most points: Aims at motivating lenders to provide borrower-friendly interest rates and risk-adequate LTVs as a consequence. 

Earn Points are earned by repaying an eligible loan. Upon taking out a new loan, the associated Earn Points can be seen under “unsecured points” in the NFTfi Rewards cockpit. If the loan gets repaid, these points turn into “secured points”.

The NFTfi Leaderboard shows unsecured Earn Points (upon starting a loan) and secured Earn Points (upon repayment). The 500 wallets with the most secured points by the end of Season 1 will get a multiplier of 2.5x max. on their final balance. 

NFTfi is committed to rewarding real users, not washlenders. The program disincentivizes wash loans through various measures, including no points for loans with APRs below 2%, no points for loans with a duration of fewer than 3 days, and no points for related wallets.

Earn Points are non-transferable and not redeemable at present. They merely reflect the loyalty level of NFTfi users. Certain persons, such as US residents, other US persons, and persons located in the US, are not eligible to participate in the NFTfi Rewards loyalty program.

Earn Season 1 is only the beginning of a long and exciting #NFTfiSummer. NFTfi has many surprises planned for all NFT collectors out there. For more information, check the Earn Points cockpit and the FAQs section.

Market Information

NFT lending is a rapidly growing market, with the global NFT market expected to reach $13.6 billion USD by 2027, according to MarketsandMarkets. NFT lending offers benefits such as liquidity, enabling NFT holders to use their assets as collateral for loans. It also helps tackle issues such as the lack of traditional financing options for NFT holders and the need for a healthy credit market in the NFT space.

Investments in loans carry inherent risks, and the value of NFTs can be highly volatile. Users should carefully consider their risk tolerance and investment objectives before taking out loans.

About NFTfi

NFTfi.com is a decentralized peer-to-peer lending platform that enables NFT holders to borrow ETH, USDC, and DAI cryptocurrency, secured by their non-fungible tokens (NFTs). The platform is non-custodial and built on the Ethereum blockchain, where smart contracts facilitate secure and transparent transactions directly between borrowers and lenders. NFTfi provides a new way for NFT holders to unlock the value of their assets and access liquidity while also enabling lenders to earn interest on their funds. Since its first loan in May 2020, users have transacted over $400 million on the NFTfi smart contracts. 

Twitter | Discord | Website

Contact

Stephen Young
press@nftfi.com