Tether has announced it will be launching the British Pound Sterling (GBP) pegged stablecoin dubbed GBPT
GBPT is slated to go live in July, initially on the Ethereum network
Tether has launched a Mexican Peso-pegged MXNT last month
Tether is expanding its offering of fiat-pegged stablecoins with the British pound pegged GBPT
Tether, the issuer of the world’s largest market cap stablecoin USDT, has announced on Wednesday it is launching a new stable digital currency. Pegged to the British pound, GPBT will be fully redeemable for the underlying fiat currency at a 1:1 ratio. The stablecoin is slated to launch in July, initially on the Ethereum network.
The news of Tether’s new stablecoin comes less than a month after the company launched a Mexican Peso-pegged stablecoin MXNT as a response to the growing rate of cryptocurrency usage in Latin America.
In addition to MXNT and GBPT, Tether operates the U.S. dollar-pegged USDT, the euro-pegged EURT, and the offshore Chinese Yuan-pegged CNHT. USDT boasts by far the largest market cap in Tether’s stablecoin offering, with the total value of all USDT in circulation of more than $66 billion. For context, the combined market cap value of Tether’s other fiat-pegged digital currencies is less than $50 million.
Tether CTO Paolo Ardoino commented on the upcoming launch of the British Sterling Pound stablecoin in a statement:
“We believe that the United Kingdom is the next frontier for blockchain innovation and the wider implementation of cryptocurrency for financial markets. We hope to help lead this innovation by providing cryptocurrency users worldwide with access to a GBP-denominated stablecoin issued by the largest stablecoin issuer.”
Ardoino added that Tether is prepared to cooperate with the country’s financial regulators to make the “continued adoption of Tether stablecoins” a reality.
In related news, Tether announced the launch of USDT on the Polygon blockchain at the end of May. With the addition of the leading Ethereum Layer 2 solution, USDT became available on 11 blockchain networks, including Ethereum, Solana, Algorand, and Tron, to name a few.
The AAX cryptocurrency exchange and digital payments provider Banxa have announced a partnership
As a part of the partnership, AAX uses can make use of Banxa’s crypto-to-fiat and fiat-to-crypto gateways to make crypto investing more accessible
Users can utilize Banxa on AAX on more than 50 digital assets and 4 fiat currencies
AAX users can now utilize Banxa’s crypto-to-fiat and fiat-to-crypto solutions
Leading Web3 payments gateway Banxa has announced a partnership with institutional grade digital assets trading platform AAX. As a part of the newly forged deal, AAX users can use Banxa blockchain solutions to make frictionless crypto-to-fiat and fiat-to-crypto purchases.
Banxa allows consumers to make use of local currencies and banking options, while paying less for fees and enjoying sophisticated fraud protection. Moreover, users can effortlessly and quickly exchange fiat for crypto and vice versa.
AAX’s Research and Strategy lead Ben Caselin had this to say about cooperating with Banxa:
“Partnering with Banxa to offer more options around the on and off ramps into crypto and strengthen crypto-to-fiat liquidity is a crucial part of AAX’s expansion work, especially as we engage the mainstream and enter new market frontiers.”
Using Banxa within the AAX platform lets users invest in Bitcoin and Ethereum, as well as 51 other digital currencies trading on the exchange. In addition, traders can use USD, EUR, GBP, and AUD to cash out their crypto positions.
Founded in 2018, AAX is a global cryptocurrency exchange, serving more than 2 million users in over 160 countries. Last August, AAX became the first exchange to implement the Satoshi Standard (SATS) to make Bitcoin more accessible and fulfill the exchange’s core mission of empowering an estimated 96% of people who do not yet own Bitcoin or any other crypto assets.
DappRadar, the global app store for decentralized applications that makes it easy for users to track dapp activity online, has revealed that the NFT space is defying the emergence of crypto winter, with popular blue-chip collections such as CryptoPunks, Meebits and RTFKT – CloneX Mintvial enjoying substantial floor price gains of at least 40% over the weekend.
The findings, taken from the newly published Flash Dapp Report for June 2022, come at a time when the value of crypto is in freefall and suggest that the blockchain industry is about much more than just token prices.
In fact, the bear market has proven to be a golden buying opportunity for NFT collectors. With the price of Ethereum falling below $1,000 last week, down 77% from its all-time high, the economic barrier to entry in the NFT market has become much lower. Collectors are jumping in to take advantage of lower prices, boosting trading activity considerably compared to prior weeks.
The report bodes well for the future of NFTs, even amid the seemingly endless bear market blues. NFTs are a kind of digital art and many investors believe they represent great value, similar to how traditional art is viewed as a safe, long-standing investment by wealth managers and funds. While crypto has been in decline since December 2021, blue-chip NFTs have become a cultural phenomenon, with an increasing number of collectors seeing the value of their utility as game assets, pint passes and more.
For instance the popular CryptoPunks collection saw 90 trades during both weekend days, having barely reached double-digits earlier in the month. Another popular collection, Meebits, jumped to an average of 20 trades per day at the weekend, up from less than five trades in the first two weeks of June.
With the increase in trading activity, the USD floor price of some of the most sought after NFT collections has soared. Collections such as BAYC, RTFKT – CloneX Mintvial, CryptoPunks, Meebits and Doodles all saw their floor price grow by at least 20% at the weekend, compared to the week before.
The report reveals that NFTs have even become more popular than cryptocurrencies in Google Trends. With crypto crashes heading downwards amid expectations of a long crypto winter, NFTs are in vogue, with many investors looking at them as a safer bet. NFT searches on Google Trends have consistently stayed ahead of crypto searches since December 2021.
About DappRadar
Founded in 2018, DappRadar is the The World’s Dapp Store: a global decentralized applications (dapps) store, which makes it easy for its base of more than 1 million users per month to track, analyze, and discover dapp activity via its online platform. The platform currently hosts more than 10,000 dapps from across 30+ protocols and offers a plethora of consumer-friendly tools, including comprehensive NFT valuation, portfolio management, and daily industry-leading, actionable insight.
ProBit Global has teamed up with decentralized medical data platform Lemonchain with its key digital currency LEMC now trading on the exchange.
Lemonchain incorporates various elements of blockchain technology ranging from DAO for governance to utilizing the traceability and data verifiability provided by DLT to foster improved understanding and subsequent care provided between health care service providers and customers.
The platform aims to empower the well-being of all participants by storing the requisite medical data using a metaverse backdrop which can foster improved communication and interactions between patient and provider.
Lemonchain helps safeguard health data while establishing a greater degree of confidentiality through a blockchain-based SaaS allowing users to share health data for universal accessibility.
Data providers can earn rewards for participating in the ecosystem through the accrual of LEMC, simultaneously gaining access to various health services catered to the consumer based on information shared including biometric data.
By plugging into smart IoT healthcare devices, the project stimulates greater participation between all medical care participants while users are provided with the opportunity to monetize and share privileged health data.
ABOUT PROBIT GLOBAL
ProBit Global is a Top 20 crypto exchange worldwide servicing crypto enthusiasts with unlimited access to trade and buy Bitcoin, Ethereum and 800+ altcoins in 1000+ markets.
PROBIT GLOBAL IS A BRAND TRUSTED BY MILLIONS OF USERS
200,000+ community members 1,000,000+ monthly active users 3,000,000 monthly web visitors 50,000,000 users on partnering aggregators and wallets such as CoinMarketCap User interface of Multilingual website supporting 46 different languages Marketing and community support in 11 key languages
IPVERSE seeks to disrupt the current IP market, creating an independent IP network to enhance security, transparency, and fair streams of monetization covering all original IP ranging from art, culture, and technology.
With many consumers frustrated by the inability to monetize and protect their IP rights, IPVERSE turns to the blockchain to establish wider awareness and commercial opportunities for various content creators to deploy and increase their access to various IPs.
The decentralized network helps to provide provenance of IP rights by recording hash values for IP data, thus providing traceability as well as automated, transparent payments conducted through smart contracts to equalize earning opportunities for all creators.
The platform’s IPV tokens are primarily used to trade digital IP rights to increase potential sharing and monetization channels while helping to prevent IP rights infringement. NFT collectors will also be able to use IPV to trade on an NFT market called ONFT.
ABOUT PROBIT GLOBAL
ProBit Global is a Top 20 crypto exchange worldwide servicing crypto enthusiasts with unlimited access to trade and buy Bitcoin, Ethereum, and 800+ altcoins in 1000+ markets.
PROBIT GLOBAL IS A BRAND TRUSTED BY MILLIONS OF USERS
200,000+ community members 1,000,000+ monthly active users 3,000,000 monthly web visitors 50,000,000 users on partnering aggregators and wallets such as CoinMarketCap User interface of Multilingual website supporting 46 different languages Marketing and community support in 11 key languages
Margin trading is a leverage trading strategy used by experienced traders in both traditional and crypto markets to maximize profits
Binance Margin allows traders to increase their purchasing power, diversify their portfolio, hedge against the market, and increase potential profits
Binance Margin is loved by many experienced traders because it offers several advantages, including diverse trading pairs, multi-asset collateral, cooling-off period, and insurance fund
Though margin trading can yield huge profits/returns, it is considered highly risky and recommended for skilled and experienced traders who understand risk management practices
Cryptocurrency trading can be highly rewarding, but traders who don’t want to rely on luck need to carefully consider their strategy to make profits. Using leverage through services like Binance Margin is certainly an option worth considering, although traders need to be aware of the potential downsides.
If you are like most people, then you will have some important questions running through your mind. You might be wondering what exactly margin trading is, why should you trade using Binance Margin, or whether margin trading is the right strategy for you.
In the course of this article, we will answer these and other important questions. We will also illustrate how you can get started and benefit from everything Binance Margin offers.
What is margin trading?
Margin trading is a type of trading that involves using funds provided by a third party to trade assets. It is a common leverage trading strategy used by experienced traders to amplify trading results. It can also be used by any trader looking to increase their purchasing power.
A margin trading account will allow a trader to access higher capital and leverage their position. It is great for traders who don’t want to be restricted by their own capital. By amplifying trading results, margin trading helps traders realize larger profits on successful trades. However, it will also amplify losses in unsuccessful trades.
What are the benefits of margin trading?
From the points discussed already, you should be able to point out a few benefits of margin trading. For the sake of emphasis, here are the primary benefits of margin trading:
It enables you to enter the market with a higher position than your available funds can reach, which implies that your profit will be higher with every successful trade
It allows you to enter higher positions quickly without depositing funds, making trading a lot more convenient
It allows you to diversify and open multiple positions, even when your capital is low – you can borrow funds to diversify and hedge, minimizing the risks of big losses
While margin trading is great for several reasons, it has some important downsides. The single most critical drawback is the risks that come with it.
Though margin trading can be highly rewarding, it is associated with higher risks. Just as potential profits are amplified by margin trading, potential losses are also amplified. Traders should know when and where to margin trade before making a commitment.
When should I margin trade?
While margin trading can be adopted by anyone, it is important to be sure that it is the right strategy before taking the step. Here are specific instances that warrant margin trading:
You are restricted by your current capital and want to improve your buying power
You want to diversify your cryptocurrency portfolio but have a relatively small amount of capital
You need extra funds to enter a hedged position against the crypto market
You understand the risks involved in margin trading and can use proper risk management strategies like stop-limit orders.
Introduction to Binance Margin
Margin trading has been used for decades in the traditional finance market. Within the crypto universe, it is supported by a good number of exchanges, including Binance.
Binance Margin trading allows eligible traders to access funds from the Binance exchange for use in leveraged trades. This implies that you can open up positions in the spot cryptocurrency market with borrowed funds from Binance in order to amplify your trading results.
In Binance Margin trading, funds are deposited on the platform by users who are willing to provide liquidity in order to earn interests. Traders who need additional funds to improve their position get access to the funds and pay the associated interest to the liquidity providers, regardless of trade outcomes.
Margin trading on Binance is straightforward. However, it is not recommended for beginner traders because of the high degree of risk involved. Binance Margin trading is only recommended for experienced traders who are adept in trading on the crypto spot markets.
Why is Binance Margin a good product?
While there are different places you can margin trade, Binance Margin is one of the best options on the market. It offers several helpful features you will never find on other exchanges that support margin trading. While using Binance Margin trading, you can be sure of superior quality of service, higher uptimes, and faster transaction speeds.
Here, we will briefly discuss some of the features that set Binance Margin trading apart and why it’s a strong choice for those that are looking to trade with leverage.
Diverse trading pairs
Margin trading is done within the spot market, not the futures market. If you must borrow funds to trade on the spot market then you shouldn’t be restricted by trading pairs. Binance understands this and supports over 600 trading pairs on the spot market. This is significantly higher than what is obtainable in other exchanges.
Multi-Asset collateral
Binance Margin is a lot more flexible than other margin trading options when it comes to trading positions and collateral. While some exchanges insist only on BTC as acceptable collateral, Binance supports the use of multiple assets as collateral. Thanks to its Cross-Margin mode, traders can deposit multiple assets as collateral. Instead of being restricted to BTC in a BTC-based margin trade, for instance, you can deposit BTC, ETH, BUSD, and USDT. This gives you more flexibility and helps you manage your risks better.
Cooling-Off Period
Binance Margin also helps users to avoid excessive trading. Thanks to the cool-off feature, traders can temporarily suspend margin trading and related activities for a specific period. All they need to do is activate the function. This feature encourages responsible trading and prevents compulsive trading, which is unhealthy. It can save you from losses, especially when you are not thinking clearly.
Example of using Binance Margin trading
Are you ready to start using Binance Margin trading? Here is a quick guide/example of what it entails:
You will need to deposit some collateral into the margin account. You can do this by using the transfer tab on the exchange to move funds from your spot account to the margin.
Once you have funds in your margin account, the next step is to borrow more funds to increase your position. Assuming you want to open a long $10,000 trading position on ETH/BUSD with 5x leverage, you need to commit $2,000 to the trade for the margin collateral. The remaining $8000 will be borrowed from the liquidity pool. You need to click “Borrow” and enter the specific amount. You should note the hourly interest rate before clicking “Confirm Borrow”. The funds will be credited to your margin account.
Final Words
Margin trading can be incredibly rewarding, especially when you understand how to use it to your advantage. It presents traders with huge opportunities to significantly increase the profit they can get from any trade. Binance Margin trading is even more exciting as it supports several helpful features. With Binance Margin trading, you can increase your position size, diversify your portfolio, hedge against the market, and even trade in both directions (long and short).
It is important to conclude by stating that margin trading is considered very risky. It is recommended for experienced traders who understand the market and have skillsets to take advantage of the many opportunities it offers.
The TRON 101 project is officially live, divided into two phases: project screening and project support, supported by a bonus pool totaling $90 million from APENFT Marketplace.
In the screening phase, projects will be judged based on their level of completion, operational structure, and post-launch performance. Teams with high-quality coding standards that follow the latest industry trends will receive phased rewards, with prizes up to $20,000. In the support phase, the platform will provide funding and increased exposure for winning projects based on their level of progress and the advantage they bring to the market.
TRON 101 is regarded as an upgrade and extension of the Developer Sprint. With this project, APENFT Marketplace seeks to identify developer teams with novel product design, outstanding operational capacities, and sophisticated engineering skills. All qualified teams will have access to continued financial support.
APENFT Marketplace, under APENFT Foundation, rolled out the Developer Sprint upon the launch of its TestNet in the hope of building a platform that encourages free creation for all developers while enabling every user to own their own NFTs. With a $2 million prize pool, the contest strives to help NFT developer teams build their projects from scratch.
Currently, over 100 teams have passed the review and were rewarded with $20,000 worth of support funds. APENFT Marketplace is now in the MainNet stage.
Since 2021, a wide array of NFT projects have been thrust into the public limelight. Represented by Cryptopunk, BAYC, Loot, and Phanta Bear, these projects are perfectly tailored to people’s needs in the new era by offering unique avatars and digital ownership.
The NFT market, which has benefited from access to high-quality platforms such as OpenSea, SuperRare, Rarible, and Nifty Gateway, also has some vulnerabilities. Too many hyped projects in the market are forcing creative project teams to abandon their work because of a lack of organic users. In contrast, excessive ETH gas fees and the market craze for famous NFTs dissuaded many everyday users from owning their own. As the market sentiment grows, the NFT space is facing a dilemma where only a few developers truly create solutions with the end-user in mind.
With a solid community in the TRON ecosystem and the financial support from the TRON 101 project, APENFT Marketplace aims to become an NFT platform for the Web 3.0 era, incubate a new generation of phenomenal projects, and build a well-rounded NFT ecosystem. Meanwhile, to better serve users and create a more dynamic NFT market, the platform offers zero handling fees for projects deploying directly on the TRON blockchain, and zero transaction fees for those minting on the APENFT Marketplace, enabling everyone to own an NFT.
For more information about the program, please follow APENFT Marketplace on Twitter @apenftorg or join the APENFT community here.
About APENFT
Officially registered in Singapore on March 29, 2021, APENFT is backed by the underlying technology of the TRON blockchain, with additional support from the world’s largest distributed storage system BitTorrent File System (BTFS). At the core of our mission, APENFT aims to facilitate the creator economy while catalyzing both financial and cultural inclusion in the metaverse. Our vision is to integrate both the virtual and the real worlds seamlessly. APENFT Foundation is the world’s first NFT art foundation that realizes crossover purchases. We aim to bridge conversations between stakeholders in the traditional art world and the digital art community emerging around NFTs, promote inclusiveness and diversity, broaden our multimedia audience, and increase all members’ engagement. In the future, our collection will be made available to the entire community through a series of curated online exhibitions in the metaverse.
Frequently swapping between different cryptocurrencies can be a costly endeavor, especially when using services that charge high trading fees. With Binance Swap Farming, users can exchange dozens of different tokens at a low swap fee rate. On top of that, Swap Farming users get to earn up 50% in BNB rebates.
Swap Farming is a part of the Binance Liquid Swap platform, which is an automated market maker (AMM) similar to decentralized treading protocols like Uniswap or PancakeSwap. However, contrary to the two popular decentralized exchanges (DEXs), Binance Liquid Swap is not a decentralized platform, but instead uses the same principles albeit in a centralized manner. The end result is a fast and cheap service that supports a wide range of digital assets.
Arguably the main selling point of Binance Swap Farming is its intuitive interface that allows traders to buy and sell digital assets via a streamlined and user-friendly UI that is much simpler and easier to use than Binance’s dedicated trading section, with its myriad of order types and advanced trading functions. We’ll cover this distinction in more detail in the following sections. First, let’s take a look at how Binance Swap Farming works.
Swap Farming makes use of token liquidity pools consisting of two digital assets, for example, Bitcoin (BTC) and Ethereum (ETH), or Binance USD (BUSD) and Tether (USDT). Liquidity providers contribute their holdings to the pools in exchange for liquidity farming rewards, consisting of flexible interests and transaction fees, that are issued in BNB.
In total, there are close to 200 liquidity token pools available on Binance. Image source: Binance
Users can choose to contribute either token to the pool or choose to provide both. Tokens contributed to the liquidity pools can be removed at any time. The pools allow tokens to be traded and exchanged, which incurs a fee. A part of the fee generated by Binance is distributed to liquidity providers in exchange for their liquidity-providing service.
The Swap Farming product taps into the liquidity provided by the Binance Liquid Swap platform for low-fee trades and Swap Farming rewards.
How to buy and sell crypto with Swap Farming?
The process of buying and selling crypto with Swap Farming couldn’t be more straightforward. Here’s a quick step-by-step guide showing how to use Swap Farming on a desktop client.
Step 1 – Login into your Binance account. On the Binance homepage, select “SwapFarming” for the “Trade” drop-down menu.
Step 2 – Pick the digital asset you would like to exchange and enter the amount. On the right side of the screen, there is information about the swap fee, potential slippage rate, and estimated fee rebate. Click “Swap” once you are ready to proceed.
Step 3 – Once the swap is complete, you will be notified with a popup that includes details about the swap order.
How to claim Swap Farming rewards?
The BNB Swap Rewards are credited moments after a cryptocurrency swap is executed. To claim the rewards, return to the Swap Farming page and click on the “ClaimRewards” button located above the Swap dashboard (see image below).
As you can see, we have received roughly 0.00034 BNB when swapping 100 BUSD for 100 USDT, which translates to a 50% fee rebate. This means that our effective token exchange rate was lowered to 0.075% down from the default value of 0.150%.
Using spot markets to make the same trade would have cost us 0.100%, which means that using Swap Farming proved to be considerably cheaper, not to mention easier and faster.
Crypto Swaps and Rewards history
The cryptocurrency swap and reward claims history can be accessed via a dedicated dashboard. Select the “History” tab next to the Swap Farming tab to see a list of past swap and reward claims.
The history dashboard included a detailed overview of past transactions, including trading pair information, amount, asset price at the time of the swap, trading fee, and swap reward amount. Similarly, the rewards history shows the amount of past rewards and the date and time at which they were claimed.
Pros of using Swap Farming
There are several pros when it comes to the Swap Farming feature on Binance. Here are some of the product’s key advantages:
User friendly
Swap Farming is easy to use and can be a good entry point for newcomers to trade cryptocurrencies. While the product obviously doesn’t boast as many features as a spot market trading service, it provides the core functionality and arguably the only one that matters to many newcomers – buying and selling crypto with only a couple of clicks.
Buying BTC with USDT using Swap Farming (left) and using spot markets (right). Image source: Binance
Arbitrage opportunities
Experienced users might find Swap Farming as a good outlet to pursue arbitrage opportunities that arise due to minute differences between token trading pair prices in spot markets and liquidity pools.
Capital efficient
Due to the size and popularity of the Binance Liquid Swap platform, traders can easily tap into token pools that provide a higher degree of liquidity than most decentralized exchanges. In practice, this leads to a lower slippage rate (especially when trading larger sums of crypto), which in turn lays the groundwork for greater capital efficiency.
Swap rewards and VIP requirements
Binance is giving up to 50% of the transaction fees generated by cryptocurrency swaps back to users in the form of BNB tokens. On top of that, crypto swap transactions count towards the overall trading volume on Binance, which allows traders to climb the VIP ranks for even greater trading fee discounts and exclusive perks.
Secure
Since Swap Farming is a part of the centralized Biance Liquid Swap platform, users are less likely to become victims of a hack or an exploit, which are unfortunately pretty commonplace when using DEXs. In addition, users’ funds are protected by the Secure Asset Fund for Users (SAFU) emergency fund which was valued at $1 billion in January 2022.
Cons of Swap Farming
Although there are several advantages to using Swap Farming, it is worth noting that there are certain risks users should be aware of before using the service.
The most important thing to consider is the slippage rate, which is most commonly a problem for users who are trading larger sums of crypto and using tokens that are featured in pools that have low liquidity. Slippage refers to the discrepancy between the expected price of a trade and the price at which the trade is executed. When placing a large swap order, a part of the trade is can be executed at a certain price and the remainder at a different price. It is worth noting that Binance provides the expected slippage rate information before the user performs a crypto swap.
Next to slippage, the risk of impermanent loss (IL) is another thing to consider. While IL is not a factor when it comes to Swap Farming directly, it can be an important consideration for users that provide liquidity in Binance Liquid Swap’s liquidity pools. Impermanent loss refers to a net difference between the value of two cryptocurrency assets in a liquidity pool-based AMM. For more information about IL, check out this helpful article from Binance.
Exclusive Swap Farming promotions
High-volume and first-time Swap Farming users can earn additional rewards thanks to exclusive promotions that generally run once per month. Each competition usually shines a spotlight on certain liquidity pools and tokens.
For instance, the Swap Farming trading promotion that took place earlier this year saw 40,000 WOO Network (WOO) tokens distributed among eligible users. The lion’s share of the entire token distribution (30,000 WOO) was reserved for WOO/BNB and WOO/USDT liquidity pool users.
Closing thoughts
With Binance Swap Farming, users can buy and sell cryptocurrencies with ease and efficiency, while having the chance to earn BNB rewards that can slash the effective trading fee rate in half. To make the deal even sweeter, Binance regularly runs exclusive Swap Farming events that can provide an additional incentive to use the swap service.
Crypto marketing is rapidly evolving. With new projects springing into action by the day, it’s no surprise that the marketing scene has improved to favor a large majority of people. After all, that’s the essence of decentralization. KOLnet, formerly Protokol, is one project that aims to revolutionize the world of crypto marketing.
KOLnet (formerly known as Protokol) is a project that is aiming to revolutionize the world of crypto marketing.
It’s the ultimate marketing launchpad for the crypto universe that is bridging the gap between projects, KOLs (Key Opinion Leaders), and communities.
What is Kolnet?
KOLnet is a marketing launchpad connecting projects to micro KOLs, utilizing multi-chain token pools and validating activity through Proof-of-Marketing. It can also be described as the perfect mix of DeFi (decentralized finance) and Marketing Tech (MarTech) to create the world’s first marketing DEX (decentralized exchange).
KOLnet seeks to change the current crypto marketing dynamics that typically favor the largest and most influencer KOLs. By monetizing KOLs and decentralizing crowd influence, Kolnet levels the playing ground for all projects. Its Proof of Marketing feature also makes measuring marketing results easier and more transparent.
Overall, it’s a next-generation project that brings plenty to the table for all crypto projects, especially early-stage companies with limited marketing funds.
IMOs: Next Generation Fundraising
To achieve its goal of disrupting crypto marketing, KOLnet has introduced IMO (Initial Marketing Offer). This is an exciting new way to raise funds through micro KOLs, the small and passionate voices within the crypto community.
IMOs are poised to be massively beneficial to projects in need of transparent marketing, connecting them to micro KOLs, which can then invest in presale tokens in exchange for their marketing services.
KOLnet’s multichain token pools enable a seamless payment method for KOL services via on-chain settlement. Since validation of work will be done through Proof of Marketing, the entire process will be transparent. The system will automatically control quality through a data-driven ranking system, and listening intelligence will be employed to augment decision-making for the ultimate performance marketing experience.
In the recent past, projects primarily raised capital via ICO (Initial Coin Offering) and IDO (Initial DEX Offering) fundraising models. This was born out of the need for a permissionless way to raise project funds, as these methods allowed companies to receive funds through liquidity pools without the involvement of intermediaries.
The introduction of IMOs completely changes the game. While IDOs offer undue whitelisting privileges to deep-pocketed public investors, IMOs offer a level playing ground for all, especially for micro KOLs.
Considering that KOLs generally have dedicated interests for a project’s success, IMOs represent a fairer and more robust model. The fact that it combines project fundraising and marketing is another big benefit for all parties, including projects, investors, users, and micro KOLs alike.
Why Use KOLnet?
Let’s take a look at the current problems within the crypto market space and how KOLnet solves these.
Problems
Projects need exposure in a crowded market and can’t easily connect to KOLs. At the same time, KOLs need to appear impartial, so they can’t chase projects.
Projects may distribute huge token allocations to KOLs at private sale rounds and get little or nothing return when it comes to marketing performance.
Projects and their investors are at risk of losing large amounts of capital due to irresponsible KOLs since there are no trusted systems for oversight.
Micro KOLs, regardless of how honest they can be, continue to miss out on major projects and opportunities.
Solutions
Through IMOs, KOLnet bridges the gap between projects and smaller KOLs.
IMO ensure that projects receive the full value for presale tokens while KOLs get paid what they deserve.
As a transparent platform, KOLnet ensures that everyone wins the proper rewards distributed due to measuring marketing performance.
KOLnet’s IDO: Right on the Horizon
KOLnet is dedicated to improving crypto marketing across the board. Thanks to its innovative approach, projects will be able to efficiently market and raise the funds they need to kickstart and get the ball rolling.
The project is conducting its IGO (Initial Game Offering) for its $KOL token on Monday, June 23 at 2:00 PM UTC. This event is a major opportunity for community members and investors to get in on the ground floor of the project and begin the journey.
Below are additional details surrounding the IGO, which can also be found on the Gamestarter website. To participate, users will need to undergo KYC verification.
Get ready for one of the biggest events in June. With KOLnet pushing forward fast and furious, there’s infinite potential on the horizon.
