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  • TRON Grand Hackathon 2022 Season 2 Kicks Off With Season 1 Winners Livestream and a New $10 Million Incentive Program to Support Terra Developers

    TRON Grand Hackathon 2022 Season 2 Kicks Off With Season 1 Winners Livestream and a New $10 Million Incentive Program to Support Terra Developers

    Geneva, Switzerland, 17th May, 2022, Chainwire

    The TRON Grand Hackathon 2022 Season 2, with an aggregate bounty of $1 Million, kicked off on Monday, May 16. The Kickoff Livestream featured Season 1’s first place winners: dCloud by Cctechmx, TronNinjas Arcade, VersacBrickSquad by TuruGlobal, and JustMoney Exchange, who had some fantastic pointers for Season 2 participants. They also highlighted how the Hackathon led to friendships amongst various teams and was a fantastic opportunity for visibility and an excellent chance to get funding to help progress quickly. Watch the full episode of Around The Block here.

    The recent market events have rocked the crypto industry and left in its wake innovative developers and teams building the next generation of blockchain solutions without a network. In response, TRON DAO has announced the launch of a $10 million incentive fund to support Terra developers migrating to the TRON ​​ecosystem. Including those migrating to TRON’s EVM compatible cross-chain solution BitTorrent Chain (BTTC), which facilitates the seamless transfer of assets across mainstream public chains, including TRON, Ethereum, and BNB Chain. The $10 million incentive fund will be granted to developers and users to jumpstart the migration and growth within the TRON ecosystem. For developers, the incentives will be mainly for project integration, and for users, the incentives will be mainly for staking rewards. The migration will allow Terra developers and users to recuperate from the collapse and continue their innovation. More details on accessing the fund and eligibility will come soon. 

    TRON has been a long-time proponent of the decentralization of the Internet via blockchain technology. Since completing full decentralization in December 2021, the TRON DAO ecosystem continues to thrive with fast speeds, high scalability, and low costs. As of May 15, 2022, it has industry-leading performance with over 92 million users on the blockchain, more than 3.2 billion transactions, and over $8 billion in total value locked (TVL).

    In continuing its efforts to promote the mass adoption of innovative cross-chain solutions, TRON and BTTC launched the TRON Grand Hackathon 2022 Season 2 with registration starting Monday, May 16. With an aggregate bounty of $1 million, the Hackathon will be split into four tracks, encompassing DeFi, GameFi, NFT, and Web3. This will be an ongoing funding event, commencing every three months, to promote the growth of the TRON and BTTC ecosystems.

    The Hackathon will also support the top track winners with various resources, including potential funding opportunities from the TRON and BTTC Ecosystem Fund, liquidity provision, and integration with partner exchanges. Submission of the Hackathon Season 2 ends on Monday, July 25. Contestants interested in winning extra TRON DAO Forum prizes are encouraged to register and submit their projects to the TRON DAO Forum early, as interactions with community members within their forum threads will also be considered while judging the projects.

    For eligibility, rules, criteria, and further details, please visit the TRON DAO Forum, TRON.Devpost.com/rules, and TRONDAO.org/hackathon.

    About TRON DAO

    TRON is dedicated to accelerating the decentralization of the internet via blockchain technology and decentralized applications (dApps). Founded in September 2017 by H.E. Justin Sun, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, a pioneer in decentralized Web3 services boasting over 100 million monthly active users. The TRON network has gained incredible traction in recent years. As of April 2022, it has over 92 million total user accounts on the blockchain, more than 3.2 billion total transactions, and over $8 billion in total value locked (TVL). In addition, TRON hosts the largest circulating supply of USD Tether stablecoin across the globe, overtaking USDT on Ethereum since April 2021. The TRON network completed full decentralization in December 2021 and is now a community-governed DAO. Most recently, the algorithmic stablecoin USDD was announced on the TRON blockchain, backed by the first-ever crypto reserve for the blockchain industry – TRON DAO Reserve, marking TRON’s official entry into decentralized stablecoins.

    Website | Telegram | Medium | Twitter | YouTube | Reddit | GitHub | Forum

    Contacts
    • Feroz Lakhani
    • press.hackathon@trondao.org
  • Binance Loses $1.6 Billion On Its LUNA Investment, CZ Wants Smaller UST Holders To Be Compensated First

    Binance Loses $1.6 Billion On Its LUNA Investment, CZ Wants Smaller UST Holders To Be Compensated First

    Key takeaways:

    • According to Binance CEO Changpeng “CZ” Zhao, Binance received 15M LUNA as a part of its original $3 million investment in Terra
    • At its peak, Binance’s LUNA investment was worth over $1.6 billion (at press time, about $3,000 worth) 
    • Binance’s CEO wants to see smaller wallets being prioritized in the compensation process

    Binance made 560x on its LUNA investment, then lost it all in the Terra market crash

    The collapse of the Terra ecosystem has left many investors down huge sums of money. LUNA, which at one point traded as high as $119, is now worth just one-hundredth of a penny. Retail investors were far from being the only ones affected by the downfall of the once second largest DeFi ecosystem and the third largest stablecoin.

    On Monday, Changpeng “CZ” Zhao, the CEO of the world’s largest cryptocurrency trading platform Binance, stated that the exchange recorded a loss of more than one billion dollars holding LUNA and UST. 

    According to the CEO, Binance received 15 million LUNA for its $3 million investment in Terra. At their peak, the total value of Binance’s LUNA tokens surpassed $1.6 billion. If Binance sold its LUNA at the ATH, it would had made 560x returns on its initial investment. However, as Zhao noted, the tokens were “never moved or sold,” meaning that the company’s multi-million investment dwindled down to just $3,000.

    In a Twitter thread, Zhao clarified that Binance earned 12 million UST from staking over the years and that the exchange earned nothing from UST transactions and trades, as most UST trading pairs had no fees.

    Binance’s CEO expressed his stance that Binance, despite incurring a significant loss in the Terra downfall, would like to see the “Terra project team to compensate the retails users first, Binance last, if ever.” Zhao wrote this in response to a Twitter user calling for Terra’s $1.5 billion fund to be used to compensate smaller wallets. The user going by the Twitter handle “PersianCapital” wrote: 

    “The second way is to prioritize smaller wallets. People who had a couple thousand or more of UST deposited in Anchor. If Terra just focussed on the “poorest” 99.6% of wallets, then they could make this gigantic group 100% whole.“

    In addition to Zhao, the proposal received support from some of the crypto’s most notable figures, including Ethereum co-creator Vitalik Buterin and TRON founder Justin Sun. 

    Creat Binance Account
  • Meta Kongz to Revolutionize the NFT and space with its Next-generation Technology and Strategic Partnerships

    Meta Kongz to Revolutionize the NFT and space with its Next-generation Technology and Strategic Partnerships

    A report by Market Research projected that the NFT market will hit $7.63 billion by 2028 at a compound annual growth rate (CAGR) of 22.05% from $1.59 billion in 2021. In another development, Business Wire projected that the metaverse market will hit $224 billion by 2030. With the obvious huge market potential, many projects have exploited the market opportunity.

    However, quite a few of these projects are out for the good of their community and to revolutionize the industry. One of such great products is the Meta Kongz, a post metaverse leading company.

    An overview of Meta Kongz

    Mega Kongz is an NFT project that is built on the Klaytn blockchain protocol. The project was developed by Kakao, the company that also created one of the most widely used chat messenger apps known as KakaoTalk. Mega Kongz is led by the Kong team and Lee Doo-hee, the CEO of Like Lion. They aim to globalize the K-NFTs and the K-POP Korean Wave.

    The Meta Kongz is made of 10,000 profile pictures (PFPs). They have been gaining massive popularity because they not only enjoy the financial benefits, but they also benefit in the metaverse world. The first 3,000 mintings completely sold out in the space of 32 seconds. This shows the popularity of the NFT project and the eagerness of people to become a holder of the Meta Kongz NFTs. The second minting of 3,000 was sold out in 5 seconds, while the third minting of 3,500 was sold out within 6 seconds.

    The Meta Kongz NFT has steadily maintained the NO.1 position in the Klaytn chain on Opensea. Its floor price on the Opensea marketplace is 6ETH. At the current price, people can mine up to 4 MKCs per day and earn about $1,200 in a month. Utilities such as Breeding System, DeFi System, and KongzShop are all available to Mega Kongz NFT holders.

    Although the Meta Kongz NFT project is currently deployed on the Klaytn blockchain, the team plans to expand to the Ethereum blockchain in the future. The expansion will play a vital role in the globalization strategy of Meta Kongz. The governance voting was recently concluded, and the decision was for the project to migrate to the Ethereum blockchain as it is difficult for non-Korean to gain access to the Klaytn network. 

    Meta Kongz Strategic Partnerships with Big Companies

    As Meta Kongz gets ready to jump into the ETH market, the team has been very strategic in their partnership deals. They recently entered into a partnership deal with Hyundai, the biggest motor company in Korea. The motor company is creating NFT projects and MOU with Meta Kongz. Hyundai became the first automobile company to enter the NFT community-based market with the partnership deal. There are currently 30 limited editions of NFT for the partnership.

    The project also entered into a partnership deal with the Shinsegae Group, one of the biggest department franchises in Korea. The company is also known to be the largest distribution corporation in Korea. The MOU with the Shinsegae Group will produce 10,000 PFP with real-life utilities. The minting will be live in June 2022 with great benefits to holders.

    Conclusion 

    Although Meta Kongz is relatively young in the NFT market, it has generated great waves across the industry. Its partnership deals with companies like Hyundai and Shinsegae Group prove that they are out for business. If there is a top list of NFT projects with huge potential, Meta Kongz undoubtedly will be on that list. The team has done amazingly well to grow the community within Asia, and with the migration from Klaytn to the Ethereum blockchain, Meta Kongz will become global. You can visit the Meta Kongz website for more information and details about the project. 

  • NFT-Focused Flow Launches $725M Ecosystem Fund in Collaboration with a16z, DCG, and others

    NFT-Focused Flow Launches $725M Ecosystem Fund in Collaboration with a16z, DCG, and others

    Key takeaways:

    • Web3 company Flow has launched a $725 million ecosystem fund to support teams and projects building on the Flow blockchain
    • The ecosystem fund was launched in partnership with prominent crypto investors, such as a16z, Dapper Ventures, and Digital Currency Group
    • Transactions on Flow have more than tripled since September 2021, mostly due to the growth of the NFT sector

    Joint ecosystem fund to “power the next generation of developers” on Flow

    Flow, a leading NFT blockchain ecosystem and home to popular collectibles platforms such as NBA Top Shot and NFL All Day, announced the launch of a $725 million ecosystem fund last week. According to the company’s press release, the Web3 platform will support blockchain developers building on the Flow blockchain via capital investments, FLOW token grants and in-kind support.

    The $700M+ initiative was launched in collaboration with some of the most prominent firms in the cryptocurrency investment community, including a16z, Digital Currency Group (DCG), and Dapper Ventures, to name a few. 

    Dapper Labs CEO Roham Gharegozlou said in a statement that the newly-launched ecosystem fund has the “opportunity to become a real game-changer for the 7500+ strong and fast-growing developer community in the Flow ecosystem.”

    The capital will be distributed across the Flow ecosystem to support a myriad of different use cases, including blockchain infrastructure, the development of robust decentralized finance offering, content, and the growth of the creator economy. More specifically, the funds will go towards product scaling and development, talent acquisition, and general “operating expenses.”

    In addition, teams building on Flow will be able to participate in informational events, blockchain incubators, and take advantage of “subsidized office space and similar initiatives.”

    The Flow blockchain is one of the fastest growing ecosystems in the crypto space, in large part thanks to the explosive growth of the non-fungible token (NFT) sector in the past year. Flow has seen its daily transaction count triple since last September on the tailwind of 25% month-over-month (MoM) growth in the same time period. 

    Buy/Sell FLOW
  • In uncertain times for crypto, the seriesOne LIVA fund provides the hope of stability

    In uncertain times for crypto, the seriesOne LIVA fund provides the hope of stability

    Dubai, UAE, 15th May, 2022, Chainwire

    Featured image via JJ Ying on Unsplash

    Crypto investors around the world are panicking. The current state of the market is causing unprecedented anxiety among those who have significant amounts of capital invested in cryptocurrency. In the span of a few days, we’ve seen dramatic collapses across the board, causing mass hysteria in the crypto community. But despite current market uncertainty, there is a solution for investors in the form of the seriesOne LIVA Fund, the first fully licensed fund built on the Yieldster automation platform.

    Many professional and institutional investors are aware of the potential of the DeFi and digital asset market but are yet to find a convenient point of entry. This is where the LIVA fund and Yieldster’s innovative platform come in.

    The seriesOne LIVA Fund is a registered fund that invests in DeFi products. The fund is managed by proprietary artificial intelligence (AI) driven algorithms aimed at those more familiar with traditional investments and for investors, this means higher predictability and stability. Yieldster’s technology enables the fund to provide liquid, secure, and stable investment returns to qualified investors. 

    The fund utilizes a market-neutral strategy that is especially important in the sometimes volatile digital asset space, as recent events have shown. Thanks to this strategy, investors can potentially build portfolios with an attractive risk/reward ratio in DeFi. The fund offers an investment process more familiar to traditional investors and utilizes stablecoins, removing the need for fiat to crypto conversions and vice versa. Yieldster’s built-in technology also enables a fast time to market, with an average of three months compared to building and implementing an investment solution which would take at least a year. 

    Naturally, anyone would have security concerns about placing their funds in the unfamiliar DeFi space. The seriesOne LIVA Fund uses access controls that supervise who can invest in and withdraw from the fund, while there is a minimum investment requirement of $500,000. For complete compliance, the fund implements AML (anti-money laundering) and KYC (know your customer) measures. A system of checks and balances in place with multiple layers of security, ensuring that no one can access or manipulate algorithms and steal or misuse user data. 

    Amid the recent chaos in the crypto world, the seriesOne LIVA fund brings higher reliability. The Yieldster platform’s technology contains the tools that give the fund its stability, and it enables unique access to multiple protocols at a low cost. The sudden nature of the crypto market requires active monitoring, and the proprietary AI ensures portfolios and assets are observed. 

    Finding guidance in the DeFi space can prove challenging. Still, the team behind the LIVA fund has vast experience in fintech with expertise ranging from the traditional finance world and a wealth of knowledge in digital assets and blockchain technology. This knowledge and expertise have been leveraged to build a platform that provides investors with a trustworthy point of entry to DeFi and is a logical solution to the current crisis facing many unfortunate crypto investors. 

    About Yieldster

    Yieldster DAO offers an open DeFi framework designed to guide investors through the sometimes complex space of decentralized finance. Stakeholders determine the protocol’s future while fueling community growth. The team behind Yieldster is composed of experienced fintech technologists, investment bankers and entrepreneurs with a shared goal of simplifying the process of investing in DeFi while bringing further credibility to the space through reliability and transparency.

    About seriesONE LIVA Fund

    The LIVA fund is a Bahamas Securities Commission registered fund that invests in DeFi Products. The fund’s purpose is to provide liquid, secure, and stable investment returns over time on behalf of professional (i.e. institutional and qualified) investors, who seek portfolio exposure to yield producing digital asset vaults in DeFi.

    Uniquely, the LIVA fund is a DeFi fund managed by proprietary AI (Artificial Intelligence) driven algorithms targeted at investors more comfortable with traditional investments.

    Visit yieldster.io/ for more information about Yieldster and its current and planned developments.

    Social Media links:

    Twitter: @Yieldster

    Facebook: /Yieldster

    Instagram: @Yieldster  

    Discord: /Yieldster

    Telegram: @Yieldster

    Distributed by STORM Partners on behalf of Yieldster. Contact Adrian Bono for interviews, and quotes – adrian.bono@storm.partners or telegram @STORMPartners

    Contacts

    PR & Media Manager

    • Adrian Bono
    • STORM Partners
    • adrian.bono@storm.partners
  • The TRON Grand Hackathon 2022 Returns for Season 2

    The TRON Grand Hackathon 2022 Returns for Season 2

    Geneva, Switzerland, 13th May, 2022, Chainwire

    TRON DAO and BitTorrent Chain (BTTC) are gearing up for Season 2 of the TRON Grand Hackathon 2022, with registration beginning Monday, May 16.

    The Hackathon is part of TRON DAO’s long-term efforts to promote the mass adoption of blockchain technology and innovative cross-chain solutions. The Hackathon’s primary goal is to empower developers to create and execute DeFi, GameFi, NFT, and Web3 projects and build a robust content and entertainment community on TRON and other blockchain platforms.

    With an aggregate bounty of $1 million, the Hackathon will be split into four tracks, encompassing DeFi, GameFi, NFT, and Web3. This will be an ongoing funding event, commencing every three months, to promote the growth of the TRON and BTTC ecosystems.

    There will be a permanent review panel throughout the Hackathon and a special guest panel for each season. Eligible submissions will be evaluated between August 1 to 11, 2022, and winners will be announced on August 17, 2022. Season 2 of the Hackathon will feature a stellar panel of judges from some of crypto’s most prestigious institutions and projects coming together to offer their expertise and accelerate the growth of the TRON DAO ecosystem.

    The first stage of evaluation determines whether the concepts meet a baseline level of viability, such as reasonably fitting the topic and implementing the necessary APIs/SDKs advertised during the Hackathon.

    The judges will evaluate all submissions that pass the first stage in stage two based on the following equally weighted criteria:

    Technological Implementation: Does the project demonstrate quality software development?

    Design: Is the user experience and design of the project well thought out?

    Potential Impact: How big of an impact could the project have on the category’s target audience?

    Quality of the Idea: How creative and unique is the project?

    The scores from the judges will select the potential winners of the applicable prizes. The applicants eligible for a prize and whose submissions earn the highest overall scores based on the applicable judging criteria will become potential winners of that prize. The TRON DAO Forum prizes will be awarded based on community votes on the Hackathon projects submitted on the TRON DAO Forum.

    The TRON Grand Hackathon 2022 and the TRON DAO Forum are all about possibilities, interactions, and empowering the TRON DAO community to have a say in the digital world. The decentralized web is all about putting the power in the hands of the people.

    As a bonus, APENFT Marketplace will be partnering with the NFT track winners to provide resources and a platform to help them achieve their Hackathon goals while bringing much-needed visibility to up-and-coming NFT projects within the TRON and BTTC ecosystems.

    The Hackathon will also support the top track winners with various resources, including potential funding opportunities from the TRON and BTTC Ecosystem Fund, liquidity, and integration with partner exchanges.

    All blockchain developers, product managers, and designers are eligible to sign up for the contest. Contestants who finish developing a DeFi, GameFi, NFT, or Web3 project programmed in Solidity, which will work on TRON, or on Ethereum and BNB Chain through the BTTC bridge before the deadline, will be considered eligible participants. The contest is also open to any existing projects developed on the TRON or BTTC blockchain that have added significant updates or features during the Hackathon.

    Submission of the Hackathon Season 2 begins on May 16, 2022, and ends on July 25, 2022. Contestants who are interested in winning extra TRON DAO Forum prizes are encouraged to register and submit their projects to the TRON DAO Forum early, as interactions with community members within their forum threads will also be considered while judging the projects.

    How to Enter: 

    1)

    Go to TRONDAO.org/hackathon

    2)

    Register for the Hackathon on the Hackathon Website by clicking the “Join Hackathon” button. Sign up to create a free Devpost account or log in with an existing Devpost account to complete registration. This will enable you to receive important updates and to create your Submission.

    3)

    Applicants will complete a project described in Project Requirements. The applicant must follow the rules established in the license agreement when using any developer tools. The sponsor and Devpost have permission to collect and store an applicant’s personal information to operate and publicize the Hackathon

    4)

    Create a video that includes footage that explains your project’s features and functionality through a comprehensive demonstration. 

    For eligibility, rules, criteria, and further details, please visit the TRON DAO Forum, TRON.Devpost.com/rules, and TRONDAO.org/hackathon.

    About TRON DAO

    TRON is dedicated to accelerating the decentralization of the internet via blockchain technology and decentralized applications (dApps). Founded in September 2017 by H.E. Justin Sun, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, a pioneer in decentralized Web3 services boasting over 100 million monthly active users. The TRON network has gained incredible traction in recent years. As of April 2022, it has over 92 million total user accounts on the blockchain, more than 3.1 billion total transactions, and over $8 billion in total value locked (TVL). In addition, TRON hosts the largest circulating supply of USD Tether stablecoin across the globe, overtaking USDT on Ethereum since April 2021. The TRON network completed full decentralization in December 2021 and is now a community-governed DAO. Most recently, the algorithmic stablecoin USDD was launched on the TRON blockchain, backed by the first-ever crypto reserve for the blockchain industry – TRON DAO Reserve, marking TRON’s official entry into decentralized stablecoins.

    Website | Telegram | Medium | Twitter | YouTube | Reddit | GitHub | Forum

    Contacts
    • Alexis Schreiber
    • press.hackathon@trondao.org
  • FTX Founder Sam Bankman-Fried Buys $600M+ of Robinhood Stock

    FTX Founder Sam Bankman-Fried Buys $600M+ of Robinhood Stock

    Key takeaways:

    • The CEO of cryptocurrency exchange FTX, Sam Bankman-Fried, has acquired more than 56 million shares of the popular trading platform Robinhood
    • FTX CEO now controls a 7.6% stake in Robinhood, worth over $600 million at current market rates
    • Both Robinhood stock and the native token of the FTX crypto exchange rallied on the news

    Robinhood stock rallied by 25% in response to Sam Bankman-Fried’s major acquisition

    The founder and CEO of FTX cryptocurrency exchange, Sam Bankman-Fried, has bought a 7.6% stake in the popular trading platform Robinhood. According to the Securities and Exchange Commission document, the crypto billionaire acquired over 56 million shares of Robinhood on May 2. 

    The news of the major acquisition saw Robinhood stock (HOOD) rally by 25% on Friday. At current market rates, Sam Bankman Fried’s investment is worth more than $604 million. 

    While primarily focused on traditional financial instruments, Robinhood has expanded its offering to include digital currencies over recent years. In April, the company added support for four popular cryptocurrencies, including Shiba Inu, Solana, Polygon, and Compound. At the time, Robinhood CBO Steve Quirk said: 

    “We’re excited to add more choices for our customers as we work to make Robinhood the best place to invest in crypto.”

    Bankman-Fried’s FTX exchange saw immense growth in the past year and hit a whopping $32 billion valuation on the heels of a $400 million Series C funding round. The crypto exchange has also launched a number of regional branches in recent months, including FTX Europe and a local branch in Australia. Moreover, the exchanges launched FTX Access, a service aimed at institutional investors looking to gain exposure to crypto.  

    The native token of the FTX exchange, the FTX Token (FTT), saw a notable positive price change following the news. At press time, FTT is trading at $31.8, up 6.1% for the day.

  • Web3 Gaming Content Platform FreshCut (FCD) Debuts on Bybit Launhcpool

    Web3 Gaming Content Platform FreshCut (FCD) Debuts on Bybit Launhcpool

    Image Source: Bybit

    Key takeaways:

    • FreshCut is a Web3 and FCD powered gaming platform looking to increase fan engagement and put a spotlight on smaller content creators
    • FCD is the native utility and governance token of the FreshCut platform; 2.625 million tokens will be distributed during the Launchpool program
    • FCD Launchpool program started on May 10 and will run until May 19

    Bybit users can farm FreshCut’s incentive and governance FDC tokens until May 19

    FreshCut, a platform looking to unite gamers and creators using short-form content, is the latest project to be featured on the Bybit Launchpool platform. The Launhcpool program started on May 10 and is slated to remain open until May 19. Bybit users can farm the gaming platform’s native FreshCut Diamond (FCD) token by participating in BIT and FCD farming pools.

    Earn FCD on Bybit Launchpool

    FreshCut, a platform powered by the FCD token and Web3 technology, is looking to disrupt several troubling trends in the gaming industry – namely, the inability of smaller creators and gamers to reach favorable deals with leading streaming platforms such as Twitch and YouTube, and the inability of smaller channels and gaming communities to attract new viewers due to content discovery systems that favor mostly the biggest names in the industry.

    FreshCut aims to solve these problems by introducing a new form of content, which involves curated playlists featuring top gaming content, in which every creator, no matter how big or small, gets a chance to shine and reach new viewers. In addition, FreshCut is introducing a new concept, called Create-and-Earn, that incentivizes content creators to produce exciting and engaging content. Moreover, the platform features a tipping functionality to connect fans with their favorite creators and gamers.

    At the heart of the FreshCut platform is the multi-use case FCD token, which allows owners to participate in the governance aspect of the platform via FreshCut DAO. FCD can also be used for tipping, unlocking membership perks, and advertising as well as sponsorship bonuses.

    FreshCut on Bybit Launhcpool – How to Earn Crypto Rewards by Staking BIT and FCD on Bybit?

    2.625 million FCD tokens out of the total supply of one billion will be distributed during the Bybit Launchpool campaign. The project held an initial dex offering (IDO) earlier this month on Polkastarters and hit its funding goal of raising $500,000 in less than 24 hours. Also, Bybit listed FCD on May 12, allowing a broader investment audience to get access to the gaming-oriented digital asset. 

    At the time of this writing, Bybit users have the opportunity to earn a whopping 3800% APY on their FCD pool investment and 21% APY via the BIT Pool. Keep in mind that rewards are subject to change and are updated daily. The farming program will run until May 19 at 1:00 PM (UTC).

  • FreshCut on Bybit Launchpool – How to Earn Crypto Rewards by Staking BIT and FCD on Bybit?

    FreshCut on Bybit Launchpool – How to Earn Crypto Rewards by Staking BIT and FCD on Bybit?

    Image Source: Bybit

    FreshCut (FCD) is a gaming content Web3 project featured on Bybit Launchpool, a platform that allows Bybit users to earn new tokens by staking their crypto holdings into exclusive project-specific farming pools. A total of 2.625 million FreshCut Diamond tokens will be distributed via the FreshCut Launchpool program, allowing Bybit users to stake BIT and FCD to earn FCD rewards relative to the amount of funds they contributed to the pool.

    Web3 Gaming Content Platform FreshCut (FCD) Debuts on Bybit Launhcpool

    The program started on May 10 at 10:00 AM (UTC) and will run until May 19 at 1:00 PM (UTC).

    How to earn FreshCut (FCD) on Bybit Launchpool?

    Follow our step-by-step guide to learn how to earn FCD tokens on Bybit Launchpool.

    1. Register an account on Bybit and complete the verification process

    In order to participate in the FCD Launchpool, you need to open an account on Bybit and complete the Basic verification (KYC Level 1) process. 

    How to Pass KYC on Bybit?

    Once you have successfully KYC’ed your account, you can access Bybit’s full suite of products and services, including the Launchpoool platform.

    Create Bybit Account

    Bybit’s Launchpool section can be accessed by navigating to the “Earn” drop-down menu on the homepage. Here you can find the Launchpool program and various passive income generating products under the “ByFi Center” umbrella.

    2. Select the FreshCut Launchpool program and stake your BIT holdings

    The most recent Launchpool program is located at the top of the page. Bybit’s token farming platform can pay staking rewards in BIT, USDT, and the project’s native tokens. In the case of FreshCut, the rewards are paid out in the gaming platform’s native FCD governance and utility token.

    In order to begin staking, you must click on the “Stake Now” button. Keep in mind that staked funds can be redeemed at any time during the staking period. The same goes for adding new assets to the pool – you can top up your pool allocation freely. 

    Once you’ve entered the desired amount of funds you are willing to stake into the farming pool, read and agree to Bybit’s terms of service and click “Stake Now” once again to confirm your order.

    3. FreshCut Launchpool rewards calculation and token distribution

    The farming rewards and corresponding APY rates are updated daily at 12:00 AM (UTC) and are distributed among pool participants based on the amount of funds users have contributed to the pool in relation to other participants. 

    The token distribution mechanics are quite straightforward. In short, the share of rewards you are eligible to receive on a daily basis is calculated based on the total amount of crypto funds you have contributed to the farming pool. Bybit follows the following token distribution formula:

    Let’s assume that you’ve staked token α to earn a new token β:

    Your daily yield for β = (the amount of α you’ve staked to the α pool / total number of α staked to the α pool by the all participants) * daily β prize pool

    The rewards are paid to your ByFi Account. From there, you can also unstake your funds before the farming period comes to an end.

    The minimum number of tokens required to participate in the Launchpool is 100 BIT, while the maximum quantity is capped at 30,000 BIT per user.

    4. FCD farming starts on May 10 and ends on May 19

    The FCD farming program started on May 10, 2022, at 10:00 AM (UTC) and is slated to run for nine days, until May 19, 2022, at 1:00 PM (UTC). For more information about the program, click here.

    Final thoughts

    Earning new tokens by staking physical crypto assets in farming pools is one of the least volatile investments in the blockchain sector – in exchange for providing liquidity users are rewarded with risk-free yields. Thanks to Bybit’s Launchpool program, users can stake their digital holdings with no lock-up period or hidden fees to earn new tokens, which can be used for trading purposes or any other crypto use case that the earned tokens support.