TERA is mainly used to buy, sell, lend, stake, and store on the platform which comprises the Terareum.io centralized exchange, the Terareum NFT exchange, and the Terareum debit card that gets connected to both exchanges.
With a protocol similar to a standard bank setup, trading on the Terareum.io centralized exchange is based on using its multifunctional Web3 interface which is available as desktop, iOS, and Android applications.
Its staking and lending options enable users to earn passive income in a DeFi-style interest payment manner while the Terareum NFT exchange will see the trading and launching of NFTs on its marketplace.
While pivotal to the platform’s overall function, TERA is designed to have its supply reduced over time based on a built-in mechanism that burns 3% of every token transacted. The burnt token is sent to a dead wallet by default thereby taken out of circulation completely.
Also, holders of the TERA token get to earn a 3% reward on every transaction for holding the token in their wallets. An additional 3% deduction will be made on all transactions to be channeled into the marketing and development of the project.
The Terareum team seeks to onboard at least 100,000 holders by the end of Q3 2022. They also plan to lock up 75% of the token’s overall liquidity accumulated from the pre-sale and airdrop events for a year on Uniswap.
ABOUT TERA
TERA is the ERC-20 token that powers the Terareum platform. A combined 9% tax applied to the token’s use adds to its deflationary feature.
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
The user interface of the multilingual website supports 46 different languages
Marketing and community support in 11 key languages
Cardalonia, is a decentralized and fully customizable virtual world where players can build, own and customize their own experiences utilizing the Cardano Blockchain and earn $LONIA, the utility token Cardalonia.
The Cardano-based startup has gathered substantial interest even with the bear market as they have been able to fill 30% of the current round allocation days after announcing the launch of their Lonia Token Sale. The Seed round is still ongoing and interested participants can do so here https://cardalonia.io/buy/.
Cardalonia is powered by $LONIA, a utility token that serves as the native currency of the ecosystem. Cardalonia is set to be the go-to metaverse project on Cardano and according to its roadmap, the Metaverse ecosystem is scheduled to launch by Q4 2022.
Cardalonia has also released its staking platform
This means that users can start staking their tokens immediately after acquiring them from the Seed Sale, and the tokens never leave their wallets. It’s like staking ADA to a Cardano Stake Pool.
What Makes Cardalonia Different From Other Metaverse Projects
Holding $Lonia tokens will give users the ability to buy Land, Join a Clan and be able to enjoy the Cardalonia metaverse.
Lonia Token Seed Sale is currently ongoing as interested investors can be able to purchase Lonia Tokens at a discount before exchange listing by visiting the Lonia Token sale page. There will be three Sale rounds with an overall 50 million tokens available for individual investors.
The price for each Lonia token has been set at 13 Lonia tokens for 1 ADA.
The minimum purchase is 250 ADA and a maximum purchase of 20,000 ADA. Over 300,000 ADA has been raised so far and the sales round will end in 22 Days.
The venture capital unit of Binance has launched a $500 million crypto fund with support from several prominent institutional investors
The funds will be used to pursue investment opportunities across DeFi, NFTs, blockchain gaming, Metaverse, and more
Binance Labs launched in 2018 and has since provided financial backing for over 100 projects, including Axie Infinity, Optimism, and Polygon
Binance debuts a $500 million fund to pursue investments in the Web3 space
Binance Labs, a venture capital arm of the world’s largest cryptocurrency exchange, has raised $500 million for a new crypto fund that will invest in blockchain, Web3, and “value-building technologies”. According to the company’s blog post, the fund will invest in companies at various stages of development, ranging from incubation to late-stage ventures.
The company has launched the new fund in partnership with DST Global Partners, Breyer Capital, and several other prominent corporate investors. Binance CEO Changpeng “CZ” Zhao commented on the recently closed fund in a statement:
“The goal of the newly closed investment fund is to discover and support projects and founders with the potential to build and to lead Web3 across DeFi, NFTs, gaming, Metaverse, social, and more.”
In related news, one of the leading crypto investment firms–Andreessen Horowitz (a16z)–launched a $4.5 billion Web3-oriented fund last week. The trend of VC capital flowing into crypto funds has been picking up momentum in the past two years – Financial Times reports that the total money raised in 2021 doubled compared to 2020.
Blockchain development team Teszure has launched the Plenty bridge connecting Ethereum and Tezos
The stability of the Plenty bridge is guaranteed by trusted and reputable members of the Tezos community
Bridges connecting Tezos with Avalanche, Polygon, and Binance Smart Chain are in the pipeline
The Plenty bridge lets users transfer tokens between Ethereum and Tezos
Teszure, a Web3 development studio focused on NFT and DeFi products and services, has launched the Plenty bridge – a decentralized token bridging solution connecting Ethereum and Tezos networks. Users of the Plenty bridge can send digital assets–including USDC, DAI, USDT, BUSD, WBTC, WETH, LINK, and MATIC–between the two popular blockchain platforms.
Thanks to the improved finality of the Tezos blockchain introduced in the protocol’s last upgrade, the token transfer time has been cut down from roughly an hour to just 5 minutes.
The new blockchain bridge is a part of the Plenty ecosystem, which features several decentralized finance (DeFi) use cases, including liquidity-providing options, token swaps, farming products, and PLENTY token staking.
The so-called Signers Forum, a group of trusted Tezos community members, is tasked with providing stability and security of transactions on the Plenty bridge. At launch, the list of members includes Teszure, Integro Labs, Codecrafting Labs, MIDL.dev, Baking Bad, Madfish, and Tezos Ukraine.
Tokens sent through the bridge are transformed into the following format: <bridged_asset>.<source_chain> (bridge tokens). The tokens can be used across the Tezos ecosystem as ERC20 representation of original tokens.
Tezsure co-founders Bernd Oostrum and Om Malviya had this to say about the launch of the Plenty bridge:
“The Ethereum bridge and the upcoming bridges from chains like Polygon, Avalanche, & BSC are key for the growth of the entire Tezos ecosystem. More bridges enable users from other chains to easily migrate their assets and try out all the innovation happening on Tezos.”
Crypto venture capital firm Andreessen Horowitz has raised $4.5 billion for its new cryptocurrency fund
A third of the capital will be allocated for seed investments and the remaining two thirds for venture investments
The fund will invest in Web3, DeFi, NFTs, and cryptocurrency infrastructure
Andreessen Horowitz launches its fourth crypto fund during what it says is the “golden era of Web3”
Leading cryptocurrency investment firm Andreesen Horowitz (a16z) launched its fourth digital assets-oriented fund last week. Dubbed “Crypto Fund 4”, the new investment vehicle will pursue investments across a plethora of crypto and blockchain use cases.
Out of the total of $4.5 billion allocated for the new fund, $1.5 billion will be reserved for seed investments, while the remaining $3 billion for venture investments. With the launch of the new massive venture capital fund, the firm’s total funds raised across the four crypto funds amount to more than $7.6 billion.
According to an official statement, the fund will explore investment opportunities in Web3 games, decentralized finance, decentralized social media, Layer 1 and Layer 2 infrastructure, community governance, non-fungible tokens (NFTs), and more. The company also remarked that we are “entering the golden era of Web3.”
Earlier this year, Andreessen Horowitz raised $9 billion for a trio of venture, growth, and bio funds. Moreover, the company launched a $600 million venture capital fund in May to pursue investment opportunities in the gaming sector and the metaverse.
Image source: Financial Times, PitchBook
Per a Financial Times report from earlier this year, venture funds are flowing into crypto at an accelerated pace as of late. In 2021, the money that flowed into crypto VC funds–like a16z’s suite of products–more than doubled compared to the year prior.
Game theory is one of the ideas that blockchain tech was built on. It allows digital currencies like Bitcoin and Ethereum to cope with discrepancies in the network and makes certain databases remain accurate.
The success of Bitcoin has boomed the growth of crypto exchanges that trade pairs like BTCUSDT, ADAUSDT, and ETHUSDT. Before Bitcoin’s whitepaper was released, the math behind the trustworthiness of the blockchain was based on game theory. This widely accepted theory tries to predict human behavior by displaying the possible strategies individuals can use.
Game theory describes a valid game as containing three key elements. The first is the players that make up the competition for the game. The second is the strategy that the players try to gain edges over one another. The third is the payoff or reward that players get after getting to a particular stage.
Game theory can be applied to all games and even real-life activities. For instance, military wars, trade wars, economic systems, and computer technology are sectors that use game theory.
The Prisoner’s Dilemma
The prisoner’s dilemma is the most popular example used to make people understand game theory. It starts with two criminals who are guilty of an act and have been apprehended by law enforcement.
The criminals are spoken to separately, and a confession will lead to a lesser sentence. It is assumed that neither criminal can speak with the other.
Suppose Criminal A gives up Criminal B, but Criminal B doesn’t give up Criminal A. In that case, Criminal A serves five years in prison. The same situation applies to Criminal B giving up Criminal A. if Criminal A and B give up each other, they serve three years each. If Criminal A and B do not betray each other, they serve one year each.
The prisoner’s dilemma shows that the best situation for both criminals is not to give up on each other and serve one year each. However, since there’s a potential of a 5-year sentence, a rational person will act in self-interest. Therefore, both criminals will most likely give up each other, and three years each is served.
Economics in Cryptocurrency
The economic application of cryptocurrency relies on game theory. The game theory part of the blockchain establishes a predictive model that the technology is built on. With the application of game theory, rational nodes in a blockchain network boost security in peer-to-peer (P2P) frameworks.
The blockchain is an extensive database where network participants must agree or reach a consensus on the blocks to validate. Bitcoin’s model is based on Proof of Work, where new transactions need to be validated by mining rigs solving mathematical equations.
A consensus mechanism like Proof of Works depends on the tenets of game theory to build a trust-less organization. Solving these math problems requires resources, and rational miners in the network have to act honestly to avoid punishment.
This punishment typically involves the miner losing resources if the wrong transaction is validated. A wrong transaction could be a double-spend, which means one unit of currency gets spent twice. It’s akin to a person having $5 on them, spending that $5 at a store, and spending the same $5 at another store.
Game theory depicts that every node in the network would be incentivized to accept only valid transaction blocks. This way, like Criminal A and B, they act in their self-interests to gain the highest reward.
Conclusion
The game theory concept is applied in several aspects of life involving strategy. It is applied in cryptocurrency to theorize that nodes in a blockchain network will act in a way that benefits network users. The prisoner’s dilemma is the best-used instance of explaining the game theory. It shows that miners will act in an honest way to avoid punishments.
EGO.com, a Cardano-based NFT services provider with an iconic name, has been making rounds within the NFT space. This up-and-coming project with a promise to facilitate a “Digital Renaissance in art” is quickly gaining a “crypto gem” reputation in the current bear market.
EGO.com, a decentralized creative realm for artists and collectors, is quickly gaining the attention of retail and institutional investors within the Cardano ecosystem. Harnessing the power of Non-Fungible Token (NFT) technology, EGO.com has marketed itself as the key player in facilitating the NFT market transition from “JPEGs with bragging rights” to a “Digital Renaissance” in art.
The project has seen substantial investor interest, even within an otherwise squeamish market dominated by ‘bearish’ sentiment. EGO.com private sale, which has been running since May 25, has been attracting record numbers of investors who have been persuaded by the potential of EGO.com to radically reshape the trajectory of modern art with the help of NFTs. The private sale is still ongoing (until June 15), and some of our readers may be eligible. Please reach out to sales@ego.com.
EGO.com has also secured a strategic partnership with ADAX, a Cardano-based exchange, with an EGO.com public sale scheduled to take place on ADAX on June 16, with a 24-hour priority round for ADAX stakers. Projections derived from early private sale data indicate substantial investor interest, signaling the likelihood of a massively oversubscribed first round.
About EGO.com
EGO.com is a fully decentralized creative realm built on the backbone of Plutus smart contracts. Led by a team of artists, art dealers, and DeFi professionals, EGO.com is harnessing the power of NFT technology to ensure that artists and collectors make the most of their digital assets. Artists can show off their prowess by minting NFTs of their artwork. Collectors can earn rewards from staking their Cardano-based NFT collections. Investors can hedge against short-term price fluctuations in style. Every step towards the ‘Digital Renaissance’ in art, EGO.com is there to provide professional, 360° degree support for all of your NFT needs.
Margin trading allows users to access leverage and trade with larger positions while committing a smaller amount of capital. This is achieved through borrowing funds. For example, if you supply 1,000 USDT as collateral to borrow 2,000 USDT, you can enter a trading position that’s worth 3,000 USDT. This would be an example of 3:1 leverage (some people prefer to say 3x).
Through margin trading, traders can achieve outsized returns if they predict the direction of the market correctly. For example, let’s say that we went long on Bitcoin in the example above. If the price of Bitcoin were to increase after we opened the trade, we’d be making the same absolute profits (setting aside fees and interest) as if we had invested 3,000 USDT, even though we only put up 1,000 USDT of our own funds as collateral.
However, the risk of losses is amplified in the same way. If the price of Bitcoin were to drop, our losses in absolute terms (setting aside fees and interest) would be the same as if we had invested 3,000 USDT. In the worst case scenario, we would lose the entire 1,000 USDT that we put up as collateral.
While simple spot trading or even just passively buying and holding will do for most cryptocurrency investors, many people want to pursue more active trading strategies where the ability to access leverage can come in very handy.
Binance is offering much lower interest rates for margin traders
The Binance cryptocurrency exchange is addressing this demand with a feature-packed margin trading product which offers a large selection of coins, a lot of flexibility when it comes to leverage, and support for different margin types (Cross Margin and Isolated Margin).
For regular users, the annualized interest rate for borrowing BTC and ETH has been slashed from 7.3% to 3.65%, while the interest rates for borrowing BUSD and USDT have been cut from 14.6% to 7.3%. Users with VIP-level accounts can access even lower interest rates.
How to protect your assets when trading on margin?
The reduced interest trades make margin trading on Binance a much more attractive proposition, but it’s important to keep in mind that it still carries significant risks. In this article, we’ll be taking a look at five ways you can help protect your assets while trading on margin.
1. Choose a well-established exchange
The popularity of leveraged trading has resulted in a large number of cryptocurrency exchanges offering the service—some platforms have even been launched that only specialize in highly leveraged trading, and don’t even offer spot trading services. And while there’s certainly a lot of quality exchanges that are still looking to establish themselves in the market, there’s also many platforms that suffer from low liquidity, poor customer service, and lax security practices.
Unless you have very specific needs, it’s better to choose a more established cryptocurrency exchange if you’re looking for margin trading services. They likely have much stronger security measures, and are more likely to have sufficient capital to compensate affected users in the event of a security breach. Liquidity is also important—trading on illiquid exchanges can result in slow trades and unpredictable prices.
Binance has been operating since 2017, and is the most liquid cryptocurrency trading platform in the world. They also have the Secure Asset Fund for Users (SAFU), which has been established to protect user funds in emergency situations.
2. Understand the difference between Isolated Margin and Cross Margin
You can access two margin trading modes when you’re margin trading on Binance – Isolated Margin and Cross Margin.
In Isolated Margin mode, the risk is contained to each trading pair you’re using. In other words, if you have a long position open on the BTC/USDT trading pair that’s going poorly and is close to liquidation, you have to either close the trade at a loss or provide more margin manually. In the event of liquidation, you will only lose the margin that you committed to the position—the rest of your positions will be unaffected. On Binance, regular users can have up to 10 Isolated Margin trading pairs active simultaneously.
In Cross Margin mode, your entire margin account balance is shared among all the positions you have open. Funds from one position can be moved to another position to avoid liquidation. This can be useful, but can also result in your entire margin account being liquidated. When using Cross Margin, you can use many different crypto assets as collateral.
3. Monitor your Margin Level
When margin trading cryptocurrency on Binance Margin, you have to pay very close attention to your Margin Level. The Margin Level tells you the risk level of your Margin Account, more specifically the ratio between your Account Equity and your Total Debt. The higher your margin level, the better.
If you’re using Isolated Margin, you will have a separate Margin Level for each trading pair. If you’re using Cross Margin, you will have one Margin Level for your entire margin account.
As a rule of thumb, the best scenario is when your Margin Level is above 2—this will give you access to full functionality, and you will be able to trade and borrow, as well as transfer assets out of your margin account to your other accounts on Binance.
However, depending on the margin mode you are using and the amount of leverage, there will be different key Margin Level values to watch out for. For example, if you’re using Cross Margin and 3x leverage, you will get a margin call if your margin level drops to 1.3 or below. If it drops to 1.1, your Cross Margin account will be liquidated to repay your debt.
Before you start trading, make sure to check the complete breakdown of how Margin Level and margin calls work on the official Binance website.
4. Use stop losses
One of the most important tools you have to avoid bigger losses while trading are stop losses. When trading on Binance Margin, you can set up a stop loss via the “Stop-limit” order type, which is a combination of a stop trigger and a limit order. The Stop-limit order type also allows you to choose the price level at which you’d like to exit the trade at a profit. Since the topic of this article is about protecting your assets, let’s focus on how Stop-limit orders can help you avoid big losses.
For example, if you go long on BTC when it’s trading at $32,000, you can use a Stop limit order to place a stop at a lower level, for example $31,200. You also have to specify a price for the limit order that will be automatically submitted once the price reaches the stop level. If you’re trying to protect yourself from losses on a long position, you will typically set the limit sell order below your stop price.
Stop losses are extremely useful—they give you the ability to define the maximum amount of money you’re willing to lose if the trade is unsuccessful.
5. Cooling-off Period
Trading with leverage is a risky endeavor that can be highly stressful. Some traders will try to “win back” their losses after an unsuccessful trade by entering a new, riskier trade with higher leverage. This can quickly turn into a downwards spiral where losses begin accumulating very rapidly.
Binance has introduced a feature called the Cooling-off Period which essentially allows you to lock yourself out of margin trading for a specified period of time. You can choose a Cooling-off Period of 1 day, 3 days, or 1 week. Keep in mind that once you enable the Cooling-off Period, you can’t disable it until the specified period of time passes.
The Cooling-off Period can be a useful tool to prevent yourself from making compulsive decisions. However, don’t rely on it completely—if you’re having difficulties with maintaining a disciplined approach and often make hasty trading decisions that you regret shortly after, margin trading is likely not suitable for you.
Conclusion
Binance is the premier platform for margin trading cryptocurrencies, offering a large selection of coins, isolated and cross margin, different levels of leverage, and very competitive rates for borrowers. Hopefully, this article provided useful information that will help you protect your assets and minimize potential losses when using Binance Margin.
It’s important to keep in mind that margin trading is highly risky, even if you’re trading “traditional” assets like stocks. Due to the high levels of price volatility, this is especially true when it comes to cryptocurrencies.
Binance provides extensive resources about their margin trading products, so make sure to learn about how margin trading works on the exchange before you start trading. As always, don’t invest more than you’re willing to lose.
San Francisco, United States, 31st May, 2022, Chainwire
Meta Apes – a free-to-play, play-to-earn MMO strategy game designed for a mobile-first experience – is delighted to announce that it has become the first game to go live on the BNB Application Sidechain (BAS). Meta Apes is now available for Android devices on Google Play, with the iOS app coming in the near future.
The game is set in a post-apocalyptic world where humanity has vanished and a new era ruled by Apes has begun. Next on the agenda is space domination. Each player will have to work closely with his or her Gang to become the strongest Clan and win the ultimate race to space.
“Meta Apes was born out of this idea of creating a community-oriented game that offers both audiences something valuable – 1) an opportunity for the traditional gamers to earn & truly own their in-game assets and 2) a much more interactive and enjoyable experience to the blockchain gamers who are primarily looking to earn,” said Taylor Shim, Business Lead at Meta Apes.
She added, “Building on an application-focused sidechain helps us avoid a lot of the common issues seen in blockchain gaming like network congestion and giving us a lot more flexibility in terms of game design & tokenomics.”
Using Ankr’s gaming software development kit (SDK), Meta Apes has combined the fun gameplay that users love in Web2 with the incentives and monetization mechanisms that are an integral part of Web3. With full Web3 capabilities, enhanced scalability, and intuitive game mechanics, Meta Apes has upped the ante in blockchain gaming.
The blockchain integration means it will include in-game cryptocurrencies, NFT characters, and true digital ownership. The game-related data lives on the blockchain instead of a centralized server controlled by a gaming studio. With true ownership, players are able to trade or sell their in-game assets freely and also earn while playing.
Ankr also helped build the BNB Application Sidechain (BAS), which enables developers to create and operate their own blockchains running parallel to the BNB Chain mainnet. With dedicated sidechains, apps and games like Meta Apes will have a much higher throughput and extremely low transaction fees. Developers can build dedicated blockchains that suit the needs of their unique application without needing to compete with traffic coming from all the other apps running on the BNB Chain.
Ankr’s new Web3 Gaming SDK gives game studios and developers everything they need to create an amazing Web3 game like Meta Apes, from best-in-class Web3 infrastructure to NFTs, marketplaces, and multi-chain wallet integrations. Its SDKs help game studios convert their Web2 games to Web3 quickly and seamlessly by adding NFTs, crypto payment gateways, and other mechanisms. It took Meta Apes only about a month to convert from Web2 to Web3 using Ankr’s Gaming SDK.
About Ankr
Ankr helps blockchain companies and developers who build on them by providing the best infrastructure and multi-chain solutions in the industry for accessing blockchain data fast and reliably. Ankr launched the Ankr Protocol in 2021, which serves over 200B requests a month across 50+ blockchains, and is on track to be the dominant leader in RPC services.
