Nicosia, 24.10.2022 – with the bear market getting comfortable, it’s easy to lose sight of the innovative, shiny technology that the era of the blockchain has given us. Indeed, through smart contracts, AI and farming initiatives, a new ecosystem, Zoinks, is offering us a versatile, risk-free investment platform that takes advantage of decentralized hedging in a way never seen before. Wiping away the ashes of the 2021 bull run immemorial, we’re unearthing a reliable tool where you’ll be able to place and multiply your capital, regardless of the state of the market.
Remember These Tokens
In the Zoinks ecosystem, you’ll find four crypto-tokens: Zoinks, which are algorithmic stablecoins, issued 1:1 with BUSD; and Snacks, which are bonded tokens linked to Zoinks, Ethereum and Bitcoin. Both tokens interact with one another to ensure unprecedented reliability, simplicity and profitability for the investor. Let’s take a look at why that this:
Reliability
The reliability of the ecosystem is ensured in a few ways. First of all, as Zoinks are minted on BUSD with a capped supply, the liquid trading pair is more resilient to unbalancing forces.
Another advantage comes in the efficiency of the algorithm that the ecosystem uses to manage inflation and reduce risk for investors. As Snacks follow a bonding curve that isn’t affected by external market forces, stability is ensured. Indeed, the system cannot lower the rate or release as many Snacks as it wants either.
Moreover, with Zoinks being the intermediate asset, Btc/Eth Snacks are linked directly to hedge the risk of volatility. Indeed, when a rate reduction is observed, the holder’s loss is minimized due to their holder’s reward. By the same token, rate improvements are more profitable.
Simplicity
A key target market for the ecosystem is traditional investors. Therefore, simplicity of use for those who are seldom engaged in blockchain-based investment endeavors features in this triumvirate of values. As a result of Zoink’s liquid pair with the one of the most popular BUSD stable tokens, the asset is available for purchase on recognised crypto-platforms through direct exchange. No additional knowledge or time is required for investors to immediately start generating profits. Moreover, the platform automates investment actions as much as possible to free up the time of the investor. The LunchBox system is an example of this automation, where rewards are transferred into a contract that generates further profits.
As an added bonus, assets can be deposited and withdrawn quickly through the platform’s pioneering technology. This means that investors will lose less on a downward trend, and gain more on an upward trend.
Profitability
Of course, in addition to reliability, Zoinks farming is set to provide unprecedented profit to token holders.
Zoinks can be traded for BUSD across various decentralized exchanges, and can be minted on the official site at a 1:1 ratio. This means that traders are able to earn on the difference between the DEX rate and the official site rate.
Moreover, by providing liquidity through the ecosystem’s bonded token, Snacks, not only will holders be able to earn as the dollar improves in value over time, but by maintaining liquidity, stakers are able to multiply their invested capital.
The Zoinks ecosystem also offers an ingenious smart contract named PULSE, which feeds the system with commissions that it generates through various operations. Once every 12 hours, the contract will take 10% of all available Zoinks and release Snacks. At the same time, it will take 10% of all snacks and put them back into Zoinks. Another 10% of the Snacks will go into a single stake mechanism, while another 10% of the Zoinks will be transferred into BUSD, then LP tokens via PancakeSwap. Moreover, the PULSE system never sells its liquidity.
The Crypto Spring
“The Zoinks Ecosystem is designed to alleviate and eventually eliminate three major pain points that exist within the cryptosphere today; a lack of Sustainability, Profitability, and Risk. By utilizing our proprietary system, new and seasoned investors alike can enjoy steady returns, no matter the direction of the market.” – Chris Abdey, Advisor at Zoinks (Canada & US).
A crypto hedge fund that combines the golden triumvirate of reliability, simplicity and profitability has traditionally been a pipe-dream for the blockchain community. The truth is that the underlying technology that would make such a platform possible is starting to wake up from incubation, and with the talented team of developers behind the Zoinks project, we’ve certainly got a lot to look forward to when the launch-date arrives next month. To learn more about the platform, and stay up to date with future releases, make sure to follow Zoinks on social media. Indeed, this is the only way that you’ll be on-time for the launch!
The PrimeXBT trading platform is on the cutting edge of innovation, regularly upgrading its feature set and launching incremental improvements. In the past year alone, the sheer number of new additions has been shocking.
In this review, we will briefly recap the primary competitive advantages that PrimeXBT provides, then deep dive into the latest innovative updates implemented during 2022.
All About PrimeXBT
PrimeXBT is an elite margin trading platform offering easy-to-use tools designed for newbies and pros alike. Long and short positions on leverage let traders make money from a wide range of global markets. A list of over 100 different trading instruments consists of crypto, forex currencies, stock indices, metals, commodities, etc.
The Covesting copy trading module also lets followers automatically copy the trades of strategy managers who demonstrate strong performance in the transparent leaderboard system. Top-ranked strategy managers currently show as much as 4,000% in all-time profits, which copy traders can follow and make money passively.
The award-winning margin trading platform also provides access to the PrimeXBT Trading Academy educational website, weekly trading competitions at PrimeXBT Contests, built-in technical analysis tools, interest-generating yield accounts, and much more. The full suite of trading tools is also available via the free mobile app for Android and iPhone, allowing anyone to manage their positions or portfolios while on the go or from the comfort of their couch.
There is also a 24/7 live customer support chat and a dedicated account manager for each user. Bank-grade security keeps customer funds protected. Deposits can be made in BTC, ETH, USDT, USDC, or other popular cryptocurrencies, or users can buy crypto using a bank card to use as account collateral.
New Features For 2022
For the sake of brevity, we’ve kept the list of new features in 2022 to ten. This is typically ten more than most platforms have added during a bear market and crypto winter. However, PrimeXBT keeps on building upon its strong foundation deeply rooted in digital and traditional finance.
Strategy Trading Assets
The most recent new addition was an added metric followers can use when reviewing Covesting strategy manager performance. Strategy Trading Assets shows a visual breakdown of each strategy manager’s trading pairs with the highest turnover.
Strategy Manager Trading History
The number one most-requested feature from Covesting traders was to see more transparent information related to each strategy manager and, in particular, their trading history. Clicking on each strategy will now include the last 30 days of trading history.
PrimeXBT Reward Center
PrimeXBT Rewards lets any platform user earn special bonuses called rewards that can be obtained by completing simple tasks like reaching certain trading thresholds or by referring new active users to the platform. Rewards range from $5 to up to $500 per task.
Covesting Strategy Management In PrimeXBT App
As the company continues to bring the full suite of trading tools to the Android and iOS apps, Covesting strategy management was added for complete control while mobile.
Covesting Monthly Traders Report
To provide followers with more data and transparency, to instill confidence in the trading community, and to incite a more competitive environment, PrimeXBT puts out a traders report on month-by-month top trader performance.
Tron Network And BNB Chain Support
When Ethereum fees skyrocketed, PrimeXBT upgraded its platform to accept TRC-20 and BEP-20 tokens in addition to Ethereum-based ERC-20 tokens. These alternative blockchains are faster and cheaper than Ethereum.
Buy Or Exchange Crypto Via The PrimeXBT App
Crypto-purchasing has been available on PrimeXBT for some time, but it has been added to the mobile app as well. The exchange module that lets users swap one crypto asset for another was also added for good measure.
COV-Denominated Margin And Covesting Accounts
PrimeXBT utilizes BTC, ETH, USDT, and USDC as account collateral to access margin trading or Covesting copy trading. This year they also enabled support for COV-denominated margin accounts and strategies.
Covesting Discord Server
Social media channels are an essential aspect of any company and how it engages with its community. The PrimeXBT and Covesting Discord server is another way for users and company representatives to connect.
24 New Altcoins
Two dozen new altcoins from trending categories like Metaverse, DeFi, and GameFi were added to the already massive lineup of trading instruments from the cryptocurrency category.
Conclusion
PrimeXBT is constantly introducing something new and innovative — who knows what they will roll out next? The best way to keep up with the fast pace of updates is to follow the company on social media or visit the official PrimeXBT blog.
If you haven’t already tried PrimeXBT yet, don’t hesitate and check out the trading platform everyone is talking about today.
Binance, the leading digital asset trading platform, has launched a new options trading platform that enables cryptocurrency investors to trade Bitcoin and Ethereum options. To commemorate the launch of the revamped options offerings, Binance has kickstarted an exclusive promotion that lets all options traders earn a 30% rebate on their options trading fees.
Binance Options is a cryptocurrency trading platform that enables users to buy contracts that carry the rights to purchase or sell spot assets at a predetermined price upon their expiration. The difference between the actual price of the physical asset at the contract’s end, and the price that was included in the contract (strikeprice), determines how big of a profit (or how much of a loss) the user earned in the trade.
Both call options – contracts that give owners the right, but not the obligation, to buy crypto at before agreed upon price – and put options – contracts that give owners the right, but not the obligation, to sell crypto at before agreed upon price – on Binance are European-style. This means that traders have to wait until the expiration date to exercise their options. However, European-style options can still be sold before their expiration in exchange for the net difference between the premiums earned and the initial cost of the call/put option.
As of October 2022, there are two types of crypto options on Binance when it comes to their underlying asset – Bitcoin options and Ethereum options. Each options market offers different expiration dates, with different contract sizes.
Expiration dates for BTC options:
7-day
14-day
Expiration dates for ETH options:
24-hour
48-hour
7-day
14-day
21-day
35-day
70-day
Binance uses the so-called Black-Scholes option model to determine the value of options on the platform. Users can see the theoretical fair price of different BTC and ETH options right from the crypto options trading interface.
How to trade options on Binance
Here’s a brief overview of options trading on Binance. Keep in mind that you need to register an account on Binance before you can engage in options trading on the platform.
After logging into your Binance account, select Options from the Derivatives dropdown menu.
Step 2: Open the Options account
If this is the first time opening the Options trading platform, you must agree to the terms and conditions and click on Open Options Account before proceeding.
Step 3: Select an option contract from the menu
To buy an option, you first need to fund your options account, transferring funds from the spot account to the options account. Select the expiration date you would like to use and the preferred strike price. In our example, we’re buying the Bitcoin call option with a 7-day expiration date.
Step 4: Buy an option
After selecting the option, you must enter the amount of funds you are willing to spend on it. The contract’s size is dependent on the expiration date and strike price of each contract. Click Buy to confirm your order.
Step 5: Close the option before the expiration
If, for any reason, you want to get rid of an options contract before its expiration, you can do so by clicking on the Close button, and enter the amount you wish to sell. You can sell your entire position, or just a part of it.
Step 6: Hold the option until expiration
If you don’t sell your contract, the option will automatically be exercised at the time of expiration.
Binance Options trading fees
Binance charges one of the lowest rates for options products in the market. However, it is still good to know what fees and how much can you expect to pay when using the service.
Transaction Fee – 0.02%
Every time you open or close a position on Binance Options, you will incur a transaction fee. The fee is calculated based on the underlying asset’s spot price at the time of the order completion. The transaction fee rate on Binance is 0.02%.
Exercise Fee – 0.015%
When the options product is exercised, a user incurs an exercise fee. The fee is calculated based on the settlement price at the time of the order completion. The going rate for the exercise fee on Binance is 0.015%.
It is worth noting that both transaction and exercise fees are capped at 10% of the option’s market value.
Binance Options promotion – 30% rebate for all traders, 30% commission for affiliates
In celebration of the rollout of a revamped and streamlined Options trading platform, Binance launched an exclusive promotion that will see all Options traders earn 30% rebates of their Options trading fees. What’s more, an exclusive affiliate promotion will award all Binance Affiliates with a 30% commission on fees generated on Binance Options by their referrals.
The promotion started on October 3, at 4:00 UTC, and is slated to run until December 31, at 23:59 UTC.
It is worth noting that Daily Options (products with a 24-hour expiration date) won’t be eligible for the trading fee rebate, nor for the affiliate commission promotion
Final thoughts
A new and improved Binance Options platform allows crypto investors to tap into derivatives markets to generate returns with European-style contracts. Low fees and an intuitive trading interface make Binance Options one of the best choices for those looking to trade options.
Moreover, the exclusive 30% trading fee rebate promotion makes the already sweet deal even sweeter – keep in mind that the promotion ends on December 31, so hurry up and make the most of it while you still have the chance.
A unique event “MetaVentures Bangkok” will be held on December 14-15 in Bangkok. The organizers are venture capital fund “MetaVentures”.
The “MetaVentures” brand is reorganized into a venture capital fund focused on digital projects related to Metaverse, NFT, Digital Art and other promising areas of the cryptocurrency industry.
“MetaVentures Bangkok” will be a vivid event due to the global experience of the organizers and unification industry leaders in the areas of NFT, DeFi, metaverse, regulation, investment, development and many others!
The exclusivity and uniqueness of the event opens the door to business and investment opportunities targeting a broad international audience.
Investments, Blockchain, Metaverse and NFT, Biotech, DeFi, DAO, Digital Art, mining, payment systems and regulation of digital assets are just some of the list of topics that will be discussed at the summit as well as networking.
Business and investment is a key focus. The most interesting investment opportunities and innovations in the world will be discussed along with how Metaverse/WEB3 developments are changing the world. DAO’s impact on the economic mergers with the DeFi sector will be highlighted with a focus on how Fintech is helping to make investments more accessible.
An organized NFT exhibition will allow guests to experience the best of digital art and popular collections. A startup competition will take place, where participants will present their projects from the main stage, and fashion designers will show their collections in the “Metaverse”.
“MetaVentures Bangkok” is an experience that will allow all participants to meet, conduct fruitful networking and get acquainted with leading committed leaders, entrepreneurs and investors.
Relaxing atmosphere of a memorable party at the AfterPaty in a unique location, will not leave anyone indifferent. A VIP dinner will be organized for VIP guests, speakers and influential persons.
The previous summit was attended by high-level technology leaders such as Nick Spanos, Alevtina Yakovenko, Davinci Jeremie, Monsak Socharoentum, Felix Mago, Ratanon Palanon. The event was opened by Vice Governor Pithet Panapong.
Strong business networking coupled with a packed program will allow us to continue to bring together crypto and blockchain enthusiasts and professionals from around the world in the warm environment of beautiful Thailand.
Book your tickets and join Thailand’s premier crypto event “MetaVentures Bangkok”.
*If you want to present your project, become a partner or share your experience on stage, register on the official website of the event.
A Bitcoin IRA is like a self-ruling individual retirement account that lets you invest in things like real estate, and this digital currency has a ban from traditional IRAs. Although a Bitcoin IRA increases the risks of your retirement account, investing in this digital money may improve your investment performance and offer greater diversification for your portfolio.
Some custodians oversee self-governing accounts, authorize virtual currencies as alternative assets, and are also in charge of Bitcoin IRA accounts. On the other hand, custodians may not owe the investor any fiduciary duty concerning those investments.
Many people wonder if a Bitcoin IRA is trustworthy. However, you should avoid making this virtual currency investment if you are unfamiliar with Bitcoin. Investing in this electronic currency requires one to understand the crypto market and the need to assess projects before committing any funds.
With Bitcoin IRAs offering this electronic currency as 401(k) investment choices, investors fund their retirement accounts with this digital money rather than traditional securities. A qualifying profit-sharing plan’s 401(k) element enables employees to set aside a percentage of their salaries for personal accounts.
How to purchase Bitcoin in Your IRA
These digital currency IRAs operate differently in a few ways, though. Bitcoin IRAs are self-directed accounts, meaning that the account holder directly manages them. Moreover, a brokerage or bank usually does not handle these virtual money IRAs. These digital money IRAs are only available through firms specializing in the type of asset you are interested in thoroughly.
So, to open this electronic currency IRA, you’d work with certain custodians that can hold and deal in Bitcoin. Some custodians require an application and also walk you through the process. However, if you progress forward, you can fund these accounts via a tip over of funds from an existing IRA. You can also opt for another tax-advantaged version or contribute new funds.
Several established companies let you set up Bitcoin IRAs. However, Bitcoin IRAs are still young, and information on a firm may be hard to come by. You could also purchase, sell, or trade Bitcoin. Here’s why you should invest in Crypto.
Portfolio Diversification
You may find that this digital money is an excellent diversifier for financial assets in your retirement portfolio. Also, holding a bit of this digital currency can be a perfect way to own something that moves differently. Also, this digital currency is an excellent hedge against inflation due to the limited supply that translates to increased demand. With a lot of people purchasing this digital asset, the value increases. Therefore, Bitcoin helps diversify your portfolio and protect those retirement accounts in the event of inflation or other future activities.
High Returns Potential
Aside from diversifying your portfolio, Bitcoin IRAs hold the potential for higher gains. Also, while there have been massive Bitcoin price drops, higher returns outpace other markets. Also, a limited number of these digital currencies that people will ever mine suggests more significant future potential. With their long-term outlook, IRAs are an excellent drive for investments with considerable potential over decades.
Positioning for a Long-Term Hold
Even though this electronic currency fluctuates in price, it has generally gone up since its inception in 2009. However, individual investors should consider it a long-term hold due to its volatility. That means it may be a good fit for an account you do not plan to access until retirement.
The Takeaway Bitcoin IRAs can offer an opportunity for investors who believe in the future of this digital currency. Generally, this article highlights the advantages and reasons you should invest in Bitcoin IRAs. However, no investment is without its share of risks.
Binance Margin is a leveraged crypto trading platform that enables traders to increase their exposure to markets
With Binance Margin trading, users can borrow funds to increase their trading positions and magnify their trading results
Binance Margin offers several advantages, including multiple-asset collateral, hundreds of trading pairs, low trading fees, and several risk-management tools
Crypto margin trading can be risky, so it is mostly recommended for experienced and strategic traders, as well as those who are willing to learn quickly and trade responsibly
The majority of experienced crypto traders understand the importance of leveraged trading. The biggest benefit, of course, is that it creates opportunities for higher returns. Margin trading, specifically, allows experienced traders to easily increase their positions and generate higher returns with each trade. Personally, I believe that Binance offers the best opportunities for crypto margin traders.
I’ve used Binance Margin on several occasions, and I must say, I love the product. Binance’s margin offering makes it possible for any active trader on the platform to borrow funds to increase their trading positions. In addition, I’ve been able to amplify trading profits using Binance Margin. A word of advice, though – crypto margin trading can be quite risky.
In the simplest term, Binance Margin can be defined as the margin trading feature of Binance. In other words, it is a Binance feature that supports margin trading. On the other hand, margin trading can be defined as a trading strategy that involves using funds provided by a third party to trade assets. In the crypto world, it involves borrowing crypto assets to increase positions and magnify trading results.
Binance Margin, in essence, involves borrowing funds from Binance to increase trading positions, thereby magnifying trading results. The feature is mostly used by experienced traders when they see good trading opportunities but have limited funds in their trading accounts to take full advantage of the opportunity. The feature allows them to borrow assets to increase their capital and make more profits from successful trades.
You can search through more than 600 margin pairings by selecting “Margin” in the trading view.
Before moving on from this section, it is important that I reiterate that margin trading can be quite risky. In fact, it carries more risk than spot trading, primarily because the trader borrows capital from a third party and is more prominently exposed to market movements due to leverage.
Just as profits are magnified in successful trades, losses are increased in unsuccessful ones. Users must pay back whatever they borrow, even if they lose a trade. Again, users must have some form of collateral before accessing funds for margin trading on Binance.
Spot Trading vs. Margin Trading
To help you understand and appreciate margin trading better, I need to explain the major difference between spot trading and margin trading.
Spot trading is the commonest trading strategy in the crypto world as well as in the wider financial market. It involves the direct purchase or sale of an asset such as cryptocurrency, stock, bond, commodity, or even currency. In the crypto market, spot trading involves the direct buying or selling of digital assets like BTC, ETH, BNB, and other altcoins.
Margin trading, as we have earlier explained, involves borrowing funds from a third party to increase trading positions. For instance, I notice a potentially profitable trade, and my initial deposit is small. To increase the profit I can take home from the trade, I can borrow funds from Binance to increase my capital.
Spot trading basiscs
Without further ado, here are the primary principles of spot trading:
It involves the direct purchase or sale of asset(s)
It is ideally suitable for long-term investments
It is a basic form of investing and the commonest trading method
Spot trading is risky but generally less risky than margin trading
Margin trading basics
Here are the primary principles of margin trading:
It is a form of leverage trading where traders take advantage of third-party funds
It can significantly magnify trading results
It is ideal for short-term trading opportunities
Margin trading is considerably riskier than spot trading since it involves the use of third-party capital
Before moving on from this section, it is important to state categorically that I use spot trading when making long-term crypto investments. Of course, it is more sensible to use my money to buy assets I intend to HODL. However, when I speculate on short-term price moves and believe that a meaningful profit opportunity exists, I can use Binance Margin rates to take more from a single trade.
Pros of using Binance Margin
From what we’ve covered so far, you should know the key benefits of using Binance Margin. For the sake of emphasis, I will highlight some of the advantages of the feature as follows:
With Binance Margin, traders can enter profitable trades with as much as 10 times the assets in their wallets
Binance Margin trading allows users to open long and short positions
Binance Margin is one of the most reliable tools for capitalizing on market volatility (this is especially true for experienced traders)
Margin can be responsibly used as a hedge investment in a portfolio
Binance Margin offers several risk-management tools to protect traders and the platform too
Cons of using Binance Margin
Here are some of the disadvantages of using Binance Margin:
Margin trading is generally riskier than spot or normal trading – it can yield devastating results when used irresponsibly
Binance Margin traders with lower VIP levels may have to pay high transaction fees
Why I use Binance Margin
As stated previously, Binance is my favorite platform for margin trading. The margin level Binance offers is incredible, and that’s just one of the many reasons I use the platform.
Without further ado, here are some of the major reasons I use Binance Margin:
Up to 10x leverage
On several occasions, I’ve been able to significantly improve my buying power and accompanying profit by using Binance Margin. It’s quite simple. I may have 1000 USDT and borrow an extra 2000 USDT to enter a trade I believe will yield significant profit. If the trade is successful, I can easily pay back the loan and interest (Binance Margin rates are always friendly) and keep the huge profit. With isolated margin, I can trade with as much as 10x leverage and make a huge profit.
On Binance, users can trade with up to 3x leverage when using cross-margin and up to 10x leverage when using isolated margin funds.
600+ trading pairs
As the world’s largest cryptocurrency exchange, Binance offers hundreds of trading pairs, even for margin traders. Most platforms that support margin trading offer few trading pairs, but with Binance Margin trading, I get the opportunity to enjoy leverage trading of more than 600 trading pairs. The multitude of options allows me to choose the pairs I’m comfortable with at all times. Of course, this improves the likelihood of getting favourable results and magnifying them constantly.
Flexibility in trading strategy
Considering that margin trading comes with opportunities and challenges, the ability to switch through trading modes comes in handy at all times. Personally, I enjoy the flexibility of choosing between cross-margin and isolated margin while using the Binance Margin feature. Cross margin offers me more flexibility and isolated margin helps me manage risks better. The Binance Margin trading interface makes switching between the two modes easy.
Multi-asset collateral
Another factor that limits crypto traders from taking full advantage of margin trading is the class of assets required as collateral. While many platforms have restrictions, Binance Margin allows for multi-asset collateral. What this implies is that traders can deposit multiple assets as collateral to borrow and trade on Binance. I always love the fact that I can deposit different assets like BTC, ETH, and USDT as collateral when trading on Binance. Losing out on opportunities is almost impossible.
Low fees
Almost every experienced crypto trader I know tries to minimize the costs of trading at every possible chance. I know that with Binance Margin, I enjoy some of the lowest possible fees in leverage trading. Binance Margin rates are always friendly, and I pay the fees happily at all times. Most of the established and highly liquid coins like ETH may be provided at a 3.33% yearly interest rate. Daily interest rates can be as low as 0.02% for many coins, and, of course, I enjoy lower hourly interest rates regularly.
Several risk-management tools
Binance understands the importance of protecting its users and the entire ecosystem. It provides a good number of risk management tools for all traders, and some of these tools are specifically helpful for margin traders.Stop-limit orders, for instance, is peculiar to Binance Margin trading. I’m particularly impressed by the “cooling-off period” feature that helps traders to take a break at the right time and avoid losing more on bad days. It is the biggest tool in margin trading for responsible trading. The Binance insurance fund is another impressive protective feature.
You can monitor your active margin level from the Margin dashboard.
Binance Margin – Final Thoughts
It is safe to assert that Binance Margin trading is one of the best things to happen to me in the crypto trading scene. It comes with some elements of risks, but the results are always worth it. Imagine entering a trade with as much as 10x your deposit and generating 10x leveraged profit. It is always fun and rewarding.
Anyone with crypto trading experience can take advantage of Binance Margin to amplify trading results. Everything about the feature, including Binance Margin lending limits, is impressive. With the right strategy, an experienced trader can benefit a lot, just like I’ve done on several occasions. The key is to understand Binance Margin properly and trade responsibly at all times.
MEXC Global will list FitR soon, users are able to trade its native token FMT (FMT/USDT). According to public information, MEXC is one of the world’s Top 10 cryptocurrency trading platforms. The core products include spot trading, leveraged ETF, futures, NFT Index, etc. MEXC supports more than 1,500 cryptocurrency transactions and ranks first in terms of liquidity for Top 50 cryptocurrencies.
FitR /Fit-er/ is a decentralized social fitness platform with rich Gamification and unique Socialization features. Powered by AI technology, FitR provides a full range of indoor and outdoor exercises.
There are three core gameplay elements in FitR:
Fitness and move to earn;
Gamification Design and NFTs;
Social interaction
FitR allows users to find their favorite exercises or discover challenging new exercises. The gamified design makes exercising fun. Users can perform cooperative challenges with friends and family in FitR or battle each other to make exercising competitive. Exercising with family and friends enhances relationships and improves everyone’s physical fitness. FitR also provides players the opportunity to make new workout friends from across their community and the world.
FitR has Launched multiplayer mode, which is something that has never been done by any Move-to-earn project. Multiplayer modes include Co-op, PVP, Ranked Match, and Community Leaderboard.
FitR introduces 2 types of NFTs –Equipment NFTs and Avatar NFTs. Players can purchase an Avatar NFT as their PFP and acquire and use Equipment NFTs that correspond to the specific exercise they are performing. Like a set of boxing gloves, a yoga mat, or a jump rope. After the NFT was released, the Highest floor price rose to about 2 BNB.
FitR has disclosed seed round investors for the project. According to the official social media, the list of investors includes Alpha Coin Fund, Avalanche Asia Star Fund, HashKey Capital, and Kucoin Ventures. The four investment VCs who mainly invest in Asian projects have a good reputation.
As an M2E project, FitR is friendly for non-crypto users to join and has made an innovation of online real-time social gameplay. FitR is also easy for users to invite friends and family to play and earn together. In the future, more functions will be launched,including a new exercise mode every month (Zumba coming up next), pet system, cosmetics in game by other NFT projects, AR football game, and social game modes(coaching and live streaming).
PancakeSwap devs have published a proposal to deploy the DEX platform on Aptos
The voting will start later today, at 12:00 UTC, and last 48 hours
If the vote passes, PancakeSwap will expand beyond BSC and become multichain
If the proposal passes, PancakeSwap will be deployed natively to Aptos
Later today, the voting on a proposal to deploy PancakeSwap (CAKE) on the Aptos mainnet will commence, which will see CAKE holders exercise their governance rights to decide whether the popular decentralized exchange (DEX) platform will go multichain.
According to the PancakeSwap team, the voting process will last 48 hours, ending on October 23, at 12:00 UTC.
📣 Proposal for PancakeSwap deployment to Aptos Chain
🐇 The kitchen proposes to deploy CAKE and four of its main features (Swap, Farm, Pools and IFO) on Aptos
PancakeSwap v2 is a BNB Smart Chain (BSC) deployed DeFi trading platform, which launched in September 2020 as a clone of Uniswap (UNI), the largest decentralized exchange running atop the Ethereum (ETH) chain. PancakeSwap includes a long list of DeFi products and services, including crypto swaps, liquidity pools, initial farming offerings, and more.
According to CoinCodex data, the PancakeSwap app handled $94 million in trading volume in the past 24 hours, which placed the exchange third on the list, behind Uniswap and DODO.
Why are PancakeSwap devs eyeing Aptos?
PancakeSwap developers listed a number of reasons why they think Aptos deserves to become the first chain, other than BSC, to support the platform’s operations.
According to the proposal, Aptos’ low transaction costs paired with high transaction throughput and speed are the primary reasons why devs are strongly considering it. In addition, Aptos’ vibrant ecosystem reportedly provides a number of opportunities for partnerships. The PancakeSwap exchange added a strong relationship with the Apots team as another reason:
“PCS has developed a strong relationship with the Aptos team and has been working directly with them to support our deployment of our various products, including introducing PCS to various projects within the Aptos ecosystem and assisting on Move code deployment with Chefs.”
If the proposal passes, CAKE will be natively supported on Aptos, making it the first time when PancakeSwap’s native governance and utility token will be available on a chain other than BSC.
Ankr has announced the launch of its latest product, Chainscanner
Chainscanner is an all-in-one block explorer and analytics platform that makes AppChains data easily accessible to users and developers
Ankr seeks to foster web3 adoption with its infrastructure
Leading web3 infrastructure platform Ankr has officially rolled out a new blockchain explorer product, dubbed Chainscanner.
The launch follows plans to provide web3 users alongside developers with a rare opportunity to easily view and analyze data. The platform also seeks to allow them to easily interact with their desired chains.
Chainscanner is an all-in-one block explorer and more
Chainscanner is an all-in-one block explorer and analytics platform specifically designed to facilitate and simplify interactions among app-specific blockchains, also known as AppChains. The platform officially announced the launch of the new product via a Thursday press release.
The birth of the Chainscanner platform was triggered by concerns to free developers from having to build block explorers and other analytics tools from scratch. Hence, developers may no longer need to use the existing costly solutions for viewing on-chain data and transactions, all thanks to the launch of ChainScanner.
The Product Manager for Ankr AppChains, Kev Silk in his comment on the new development acknowledged Chainscanner as an essential tool serving as a new building block for AppChains.
The design it features allows user to enjoy an exclusive experience with tools that enables them instantly search for data, stake tokens, and also make governance proposals while also participating in the voting process. Among the exclusive features of Chainscanner is also the opportunity it gives users to get development resources, apply to become a validator, and learn everything about different chains.
“…This is how we make decentralized apps as easy to use and as high performance as the centralized apps we’re used to interacting with every day,” Silk explained.
Ankr to boost web3 Adoption with its AppChain services
The new development reflects Ankr’s commitment to building the future of decentralized web3 infrastructure. The platform understands it is important to eliminate the complexities that come with blockchain development while ensuring scalability and app-specific customization.
The debut of the new ready-made explorer solution serves as another mechanism deployed by Ankr to further boost the adoption of web3 to reach mainstream.
Ankr also provides an end-to-end engineering solution dubbed AppChains-as-a-Service. This product allows web3 developers to easily build custom blockchains uniquely suited to their applications.
The platform believes that slow transaction speed and high gas fees are the two core challenges that are hindering the adoption of web3. Hence, it has deployed AppChains-as-a-service to help provide solution to the existing problem.
With this feature, developers can easily build their own blockchains on Sidechain frameworks like Polygon Edge, BNB Chain’s BAS and the likes. Moreso, developers can freely choose the programming languages, consensus mechanisms, and development frameworks they want to use via the AppChains-as-a-Service feature. The platform believes it has the potential to help solve the aforementioned problems.
Chainscanner represents an improvement to the AppChain services as it offers developers insights into the performance of their chain when compared to other chains in the market, as well as the supply and demand for staking. Meanwhile, Users also have the opportunity to gather data on the staking usage of a particular chain or token to understand the efficiency of a web3 app and its popularity in the market.
