Zenith Chain continues to accelerate progress through its Q3 roadmap with a key IEO offering on ProBit Global at .30 USDT for retailers to capitalize on a short-term 7% bonus.
According to the platform’s proprietary block explorer, there are currently 4,798 current ZENITH holders. The utility token fosters decentralized P2P and borderless payments powered by the hybrid Zenith Chain, which utilizes the resource and cost-efficient PoS consensus currently secured by 21 validators.
Zenith Chain provides efficient swap services for Ethereum and the Binance Smart Chain through its Zenith Bridge, with the team locking up 20M of the total 120M supply to provide ample liquidity.
Zenith Chain supports both ZRC-20 and ZRC-721 token protocols for smart-contract functionality with a core focus on targeting institutional adoption through an IRL case and a practical approach towards facilitating the potential of P2P e-commerce through borderless digital payments.
Rapid scalability is a significant calling card of the hybrid chain with a robust 9500 tps and finality in just over a third of a second complemented by low fees. Zenith Chain will utilize the new infusion of funding to build on its infrastructure with an upcoming digital asset exchange and a comprehensive payment solution with fiat support.
ABOUT ZENITH CHAIN
Zenith Coin is the underlying utility Coin that powers the Zenith Hybrid chain. It also acts as a settlement mechanism for DApps built on the Zenith Hybrid Blockchain. The double-sign detection and other slashing logic guarantee security, stability, and chain finality.
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 700+ 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 41 different languages Marketing and community support in 8 key languages
Join our active programs and get huge benefits! 1. Trading Fee Discount: Buy PROB, pay trading fees with PROB & get as low as 0.03% trading fee 2. Referral Program: Earn 10-30% of trading fees for referring friends to ProBit 3. ProBit Exclusive: Subscribe to 50% off Top 200 tokens 4. Auto Hold Campaigns: Hold tokens and get 6% annualized returns
A leading cryptocurrency exchange Crypto.com will reportedly fork out $700 million in cash to the owner of Staples Center, AEG, one of the world’s biggest presenters of sports and entertainment programming, to rename the iconic sports and entertainment venue to Crypto.com Arena.
Key takeaways:
Los Angeles-based Staples Center is home to prominent American sports franchises such as the NBA’s Lakers and Clippers as well as the NHL’s Kings.
Crypto.com’s 20-year naming rights deal is one of the largest sponsorships agreements in sports history.
The freshly penned deal will come into effect later this year, on December 25, just in time for the Christmas holiday season. The physical sign will be changed from Staples Center to Crypto.com Arena in June of next year.
Crypto.com has been stacking up sponsorships with major sports organizations and celebrities in order to draw mainstream audiences to crypto. Most notably, Hollywood star Matt Damon recently became the face of the Crypto.com exchange.
Earlier this year, Crypto.com signed a $175 million 10-year contract with a premier fighting organization UFC, and a $400 million deal with NBA franchise Philadelphia 76ers.
At the time of this writing, Crypto.com Exchange is the 4th largest cryptocurrency exchange in terms of trading volume, with a normalized 24-hour volume of more than $5 billion.
After the details of the Staples Center rebranding deal became public, the platform’s native Crypto.com Coin (CRO) shot up by more than 14%.
123swap is a peer-to-peer atomic cross-network crypto-asset swapping protocol that eliminates the need to trust a custodian or counterparty. 123swap is a prominent crypto swap protocol for the Smart Economy that allows users to swap, hold, send, receive, earn, and invest their preferred assets across many chains.
The platform enables non-custodial services with the highest levels of security, simplicity, and convenience. Customers can surf through it.
The platform enables non-custodial services with the highest levels of security, simplicity, and convenience. It allows users to see all of the swap offers gathered from major crypto exchanges in one convenient location.
The platform aspires to build a strong-handed community. Members of the community will make critical decisions such as whether team tokens or advisory tokens should be used, lock duration, and so on, using a proper voting system.
Following are the key features/functions of the 123swap platform that distinguish it from the others and make it one of a kind:
Visualize the Swap in a Different Light
In real-time, you may see the total number of transactions. The user will be able to make a better judgment if all of the metrics used to compute the swap are displayed.
Automated trades
Limit orders, stoplimit orders, and a variety of other automatic options are available, similar to uniswap or pancake swap.
Inexpensive Swap Platform
Uniswap-style swapping platform with 25% reduced fees than uniswap. It will compensate 25% of costs by airdropping the 123swap token, which will provide considerably more earning opportunities.
Possibilities for Arbitrage
123swap is continually looking for the best market rates to swap and allow traders to engage in arbitrage.
123swap Token Value Capture
Through a burn mechanism, 75% of transaction fees are refunded to 123swap token holders. The remaining 25% goes to a community development fund managed by token holders.
Save money on gas.
Automated mirror pools combine funds into a single transaction, saving consumers money on gas.
Cross Chain
Traders can choose from one of the 500+ cross-chain liquidity pools (including Ethereum, Binance, Polkadot, and others).
Access to Multiple Trading Pairs
The 123swap platform allows users/traders to discover any trading pair they require.
Leading Protocols & Platforms
123swap will bring together premier protocols and platforms to enable honest farmers to take full advantage of decentralized financing.
Community Governed
Full platform control by the community of strong-willed holders.
123swap DEX Liquidity Oracle (DLO)
A platform that solves liquidity inefficiency.
Large Order Fulfillment
Trade significant amounts of assets strategically on 123swap without the dangers, allowing traders to keep token prices stable without the fear of the market tanking.
123token Governance
There are no pre-mined tokens for project owners, team members, or others. Following the public sale, the community will decide whether or not there will be any of that, and if so, what limits will apply.
123swap solves problems, the manual swap process is inefficient and time-consuming. Using smart contracts, the platform will automate and speed up the switch process.
It will combine smart and autonomous finance management in one place thanks to its cross-chain smart contracts. Using smart contracts, the platform will support decentralized finance management.
123swap has developed technology that will assist the platform to outperform the competition, become faster, and become the finest swap platform in the world.
This article, and the creation of the 1inch Network DAO Treasury, marks the official start of governance implementation, Stage 2!
As discussed in earlier articles, the implementation of the 1inch DAO involves two stages:
Stage 1: This was kicked off in December 2020 with the initial distribution of 1INCH tokens to protocol users and the launch of Instant Governance. The goal was to start the process of decentralization by giving community members direct control over specified protocol settings via the Instant Governance UI.
Stage 2: The introduction of full-fledged DAO functionality by providing the community direct control over extended governance mechanisms. The end-goal of this stage is for the 1inch Network to be completely decentralized, and for the protocol to be wholly owned and governed by the community. By early 2022, Stage 2 will be in full swing.
1inch Network DAO Treasury proposal
A huge thanks to all who took the time to participate in the 1inch Network DAO Treasury discussions on the forums! There were great community comments in the Stage 1 discussion and much of that feedback was directly incorporated into the Stage 2 1IP. The community demonstrated overwhelming support for the Treasury 1IP, with 90% of the participants in the sentiment poll voting in favor of the change!
The Treasury is a core piece of infrastructure that needs to be live before Stage 2 governance can officially start – the DAO needs a way to allocate funding to its proposals. It is for this reason that the 1inch Foundation has taken the initiative to create and deploy the 1inch Network DAO Treasury.
The 1inch Network DAO Treasury is under the direct domain and ownership of the community. At launch, all protocol revenue will be redirected from existing governance incentives to the Treasury.
1inch Network DAO Treasury overview
Treasury
A Gnosis Safe smart contract wallet with multi-signature (multisig) functionality on the Ethereum mainnet has been created — this address functions as the 1inch Network DAO Treasury. Twelve multisig owners have initially been selected by the 1inch Foundation from the core contributor team and other well known projects such as Tornado Cash, Synthetix, Opium, NEAR protocol, and zkSync, to name a few. These signers are able to veto malicious transactions in a 7 of 12 fashion.
Gnosis Safe + Snapshot + SafeSnap
Snapshot allows for gasless voting and has already been incorporated into the 1inch’s Network governance process. SafeSnap is a Snapshot module that allows for on-chain execution of off-chain voting. The combination of these tools give the DAO’s votes direct control over the Gnosis Safe that holds the Treasury funds.
Revenue stream
With the incorporation of this Treasury upgrade, referral rewards remain unchanged and will still be paid out in their source token on the chain they were earned. However, the part of the revenue stream that previously went towards Governance rewards distribution, will instead be sent directly to the newly formed Treasury in the form of USDC on the Ethereum mainnet. Governance participants will be able to control the revenue split of the Aggregation protocol and Liquidity protocol by voting with Instant Governance.
There will no longer be yield earned from staking on the governance contract, though the DAO will have full control over the funds and all aspects of the Treasury.
1inch Network DAO Treasury revenue stream
Governance upgrades
To ensure a smooth rollout of Stage 2, additional upgrades are being made to the 1inch DAO governance process.
Snapshot
In June, 1inch rolled out the integration of Snapshot into the governance process. This upgrade makes it possible for governance participants to vote in a gasless fashion off-chain and delegate their voting weight to other addresses.
All future 1inch Improvement Proposals (1IPs) will be voted on through this Snapshot interface.
Voting
The rationale behind these voting changes is that they ensure that the individuals with direct control over the protocol have a vested interest in its long term success, while also limiting the power of backers and core contributors.
st1INCH: This is the non-transferable ERC-20 which represents 1INCH staked within the 1inch protocol’s governance contract. This has a voting weight of 100%.
v1INCH: This is an ERC-20 which represents 1INCH tokens that are currently locked in the vesting contract. These tokens are held by backers, advisors, and core contributors but are not yet fully-vested. Each v1INCH has 1/5th (20%) the voting weight compared to st1INCH.
Delegation: Both st1INCH and v1INCH have the ability to delegate their voting weight to other addresses.
Quorum: The minimum quorum has been increased to 10 million votes (previously 4 million votes). This change was made to reflect the growing supply of circulating 1INCH.
Documentation
The 1inch Foundation is currently developing proper documentation for all aspects of the governance process. This will be a living document that will further formalize the 1IP creation process, the voting procedures, the treasury mechanics, and how voting weight is calculated. A full documentation site is scheduled to roll out in the coming weeks.In the meantime, the Help Center has been updated with guides on navigating these Governance changes, be sure to check them out here.
Moving forward
We have never been more excited about the future of the 1inch Network. As we iterate on this governance process and move towards total decentralization, we want to hear feedback from all community members. So, please be sure to stop by our governance forum and join the discussion!
Although it is one of the top-performing blockchain networks, Cardano is yet to have a native Decentralized Exchange (DEX) like those found in other blockchain networks. Currently, there exists no exchange list for tokens of projects that are based on the Cardano blockchain. This will soon become a thing of the past, now that the team at DOEX is making some serious headway into the development of their project. DOEX is set to be the first Cardano Blockchain-based DEX, and according to its roadmap, the DOEX DEX is scheduled to launch by the end of the year.
What is a DEX?
A Decentralized Exchange or DEX (DEX) is a blockchain-based application that is accessible through a series of smart contracts and is designed to facilitate financial services that are traditionally carried by a central entity in a decentralized manner.
With a DEX, trustless parties can carry out financial transactions by relying only on the self-enforcing ability of smart contracts. Apart from decentralizing access to financial services, it also ensures that profits from the financial services are decentralized. Participants that provide liquidity to facilitate exchange, swap, and other types of operations on decentralized exchanges are rewarded with a small, serving as a means of passive income generation for individuals.
On its website, DOEX clearly states its vision to be the first Cardano-based DEX:
“Our vision is to become the first Cardano-based DEX,ensuring interoperability across chains and allow for the seamless swap of tokens both on the Cardano blockchain and other ones like Ethereum via a fool-proof bridge or converter. This is part of our extended vision of laying a solid background for extended business and expansion opportunities. Our long-term objective is to be the one-stop-shop for DeFi services on the Cardano blockchain, including but not limited to, staking and asset management.”
However, despite the scalability and functionality of the Cardano blockchain, it is far behind the top three blockchains when it comes to DEX daily wallet activity. According to the most recent DappRadar data, the clear winner is Ethereum with 3447, TRON with 1665, and EOS with more than 750, as seen in the graphic below:
While Cardano may have superior technology, pent-up demand, and visionary leadership, it has a lot of ground to make up to even come close to catching up. As with so much in crypto, we’ll have to wait and see.
On the Flipside:
Ethereum continues to be a juggernaut regarding DeFi, NFTs, and DEXs.
The most recent DappRadar data shows that DEX Ethereum is the dominant protocol, holding 64% of the total daily active unique wallet activity.
Daily active unique wallets on Ethereum grew 48% from 2019 to 2020 – it will be a challenge for any competitor to overtake Ethereum – not impossible but not a certainty.
Why You Should Care
Interest in DeFi continues to grow as DeFi Pulse shows that nearly $95.4 billion is locked on various DeFi protocols. Once this bull cycle winds down, expect to see profits flood into DeFi as a safe harbor to help “bear” the inevitable bear market. Given that expected growth, there’s likely to be plenty of room for an array of DEXs and blockchains.
SportsIcon its platform uses Flow blockchain, created by Dapper Labs and designed specifically for NFTs
With exclusive interviews that document the sports journey of famous athletes, SportsIcon provides fans with exclusive sports content.
Among numerous benefits offered to SportsIcon Lion Club members are access to exclusive webinars with star athletes and tickets to real-world sporting events
SportsIcon is a non-fungible token (NFT) platform that has its sights set solely on sports – it focuses on bringing sports teams, athletes, and sporting organizations their own sports storefronts where they can curate their drops and sell them on an original sports platform. Additionally, SportsIcon users can follow the career highlights of many of the world’s most renowned athletes on the platform.
SportsIcon is partnered with some of the most influential tech people and star athletes
A number of prominent tech investors have invested in SportsIcon, including the CEO of NBA Top Shot Roham Gharegozlou and the founder of YouTube Chad Hurley. The company also works with famous athletes, including 13-year NFL veteran Michael Vick, accomplished soccer star Romelu Lukaku, and NBA Champion Andrew Bogut.
One of the world’s largest NFT platforms, NBA Top Shot, uses the same blockchain technology as SportsIcon. NFT platforms rely on the Flow blockchain to facilitate high-throughput transactions with low fees, and it provides near-instantaneous transfer speeds.
During training, fans can witness the highs and lows of an athlete’s journey as well as see their talent on display. Among the 27 digital collectibles in each athlete’s NFT collection will be nine distinct chapters, with each chapter featuring a more rare item.
Soccer fans will be eagerly anticipating the next two drops on SportsIcon. Image Source: SportsIcon
The first one will cover the history of the legendary Mexican soccer club Pumas, which has won seven national championships. With this collection, fans of Pumas can purchase NFTs at the starting price of 1 FLOW.
Romelu Lukaku’s impressive soccer journey is the next digital collection to drop on SportsIcon. There are three levels of Pre-Mint passes for the Chelsea FC forward, each of which provides different benefits, such as recurring airdrops of special edition NFTs throughout each month in 2022.
Lion Club membership delivers exclusive perks
There is perhaps no single aspect of SportsIcon that can match the Lion Club in terms of excitement. Back in August, the company generated $1.4 million in Ethereum sales from 9,000 unique Lions sold for 0.04 ETH each in less than 14 hours.
As an exclusive member of SportsIcon, every Lion has access to exclusive tickets to sporting events, access to social channels, and more. As an example, SportsIcon club members got a chance to participate in a webinar and a Q&A session with NBA star Baron Davis that took place on October 28.
SportsIcon IDO set for the end of Q4 2021
SportsIcon will release a native utility token called ICONS via an upcoming IDO that will take place on a multi-chain DeFi protocol TrustPad. The IDO will represent a significant milestone for the community-focused sports platform and provide an opportunity for the public to purchase the ICONS token.
Scheduled for launch during Q4 2021, ICONS will give its holders the ability to buy NFTs at a discount and to receive preferential treatment when waiting for new digital drops. ICONS will also be used for farming purposes, for the creation of liquidity pools, and more.
The public sale of 30 million ICONS tokens will begin on 26th November 2021, at 11:00 AM UTC.
Valkyrie Investments is launching “On-Chain DeFi fund,” giving investors the ability to generate yield from decentralized finance use cases, including farming, staking, and lending
The $100 million came from accredited investors and Valkyrie’s general business partners
The new DeFi fund is slated to launch later this month
The institutional adoption of digital assets has picked up the pace over the past month. Proshares’ BITO, the first Bitcoin futures-based ETF, launched in mid-October. A leading cryptocurrency asset management firm Valkyrie Investments launched its Valkyrie Bitcoin Strategy Fund (BTF) shortly after that, on October 22. Now, Valkyrie has announced the launch of a new cryptocurrency fund that will be exclusively focused on the decentralized finance (DeFi) sector.
Valkyrie is launching a $100 million “on-chain DeFi fund” to provide exposure to the decentralized finance industry
The alternative asset management company offers several financial products to investors who wish to gain exposure to the cryptocurrency industry. Valkyrie offers six single-asset digital asset Trusts, which are based on Bitcoin (BTC), Polkadot (DOT), Algorand (ALGO), Dash (DASH), Tron (TRX), and Zilliqa (ZIL). In addition to the aforementioned crypto trusts, the company also offers a future-based Bitcoin exchange-traded fund (ETF).
By introducing the new “On-Chain DeFi Fund,” Valkyrie is taking a page out of Galaxy Digital’s playbook, which has recently expanded its crypto offering with the addition of a DeFi Index Fund.
As reported by Blockworks, Valkyrie’s DeFi Fund will allow investors to generate yield from various DeFi-centric use cases, including lending, farming, and staking. Wes Cowan, Valkyrie’s managing director of DeFi, told the financial news outlet that the new fund will incorporate decentralized protocols from 13 different blockchain projects, including Ethereum (ETH), Avalanche (AVAX), Solana (SOL), Binance Smart Chain (BSC), and Fantom (FTM). Cowan emphasized the benefits of the fund’s structure:
“This allows us to participate in the upside while also gaining additional yield from lending, liquidity pools, farming, and staking in the DeFi ecosystem. We get the appreciation plus the compounded yield generated from on-chain DeFi participation.”
Cowan went on to explain, “The fund was launched in response to demand from existing clients and investors, who also happen to make up the bulk of the launch funding.” Three quarters, or $75 million, of the funding, have already been secured by accredited US-based investors.
Valkyrie’s DeFi fund is going live on November 22, 2021.
Tortola, British Virgin Islands, 16th November, 2021,
Transient Network, a Smart Contract Global Marketplace, has launched its much-anticipated TSC-Core mainnet on Ethereum, Binance Smart Chain, and HECO Chain networks. The TSC-Core DApp provides the ability for anyone, anywhere, anytime to create and manage Next-Gen Contracts with no coding skills or tools required.
With features like transfer, deposit, and digital signature, TSC-Core lets users create self-executing contracts for a wide range of use cases including startup funding, rental agreements, invoices, will contracts, and much more. The DApp’s clean and intuitive interface makes smart contract creation as easy as filling up a simple form.
Most individuals and businesses don’t have the technical expertise to engage with smart contracts. With the launch of TSC-Core, they are no longer deprived of the immutability, transparency, speed, accuracy, and hyper-security that smart contracts bring to any transaction or agreement.
Smart contracts simplify transactions and agreements between anonymous as well as identified parties. Enabling not-so-tech-savvy individuals and businesses to use smart contracts will fuel the adoption of blockchain in a variety of industries and facets of life.
Transient is building the “Amazon of Smart Contracts” — a global marketplace of decentralized applications (DApps) designed to help non-coders to create self-enforcing and self-executing smart contracts for specific use cases and industries. As a blockchain-agnostic and Ethereum Virtual Machine (EVM) compatible platform, it can develop its DApps on multiple chains with ease.
After TSC-Core, Transient has three other DApps nearing the mainnet launch:
CryptoPool: Enables users to create their pools for crypto price predictions and share in the winnings
Esports: Builds an ecosystem of P2P market creation of your favorite Esports competitions and many other services—taking social betting and content-driven experiences to the next level
NDA: Lets users create smart contracts that make it easier to work with clients and partners. Transient’s legal advisors ensure the contracts are bulletproof within the legal landscape.
About Transient
Transient is a decentralized ecosystem that gives non-coders the ability to create and manage their Next-Gen contracts in the digital world. Its Smart Contract Global Marketplace is built from the ground up to increase blockchain adoption across every sphere of industry and life by hosting and enabling the instantaneous creation and distribution of a wide range of self-enforcing and self-executing smart contracts.
The SEC rejected the highly anticipated VanEck’s Bitcoin spot ETF in a November 12 ruling
The financial regulator has again cited the potential for “fraudulent and manipulative acts and practices,” as the reason for rejecting the latest BTC ETF application
Last week, the U.S. Securities and Exchange Commission (SEC) rejected VanEck’s Bitcoin spot exchange-traded fund (ETF) application. A couple of days after the latest BTC spot ETF was rejected, the future-based version of VanEck’s BTC ETF was launched. What’s behind the regulators’ unwillingness to allow trading of US-based crypto spot ETFs?
The SEC claims it wants to protect investors from the volatile nature of digital assets
The blockchain community has been eagerly awaiting the leading financial watchdog to approve the first physical Bitcoin ETF for nearly a decade. More than a dozen of spot fund applications have been rejected over the years, with the SEC citing the potential for fraudulent and manipulative practices as the main reason for their unwavering stance.
Last month, with the launch of BITO, the first US-traded Bitcoin futures ETF, it seemed that the tide was finally changing so the crypto community had high hopes for the November 12th ruling on VanEck’s ETF application.
Despite the fact that three BTC ETFs began trading in the past month, Proshares’ BITO on New York Stock Exchange (NYSE), Valkyrie’s BTF on NASDAQ, VanEck’s XBTF on Chicago Board Options Exchange (CBOE), the financial regulator didn’t change its stance regarding the cryptocurrency-based spot ETF.
The SEC summarized its decision in Friday’s notice: “The Commission concludes that BZX has not met its burden under the Exchange Act and the Commission’s Rules of Practice to demonstrate that its proposal is consistent with the requirements of Exchange Act Section 6(b)(5), in particular, the requirement that the rules of a national securities exchange be “designed to prevent fraudulent and manipulative acts and practices” and “to protect investors and the public interest.”
Jan van Eck, the CEO of VanEck took to Twitter to voice his disappointment with the Commission’s decision.
We are disappointed in today’s update from the SEC declining approval of our physical bitcoin ETF. We believe that investors should be able to gain #BTC exposure through a regulated fund and that a non-futures ETF structure is the superior approach. @tyler@gaborgurbacs
When talking with Bloomberg at a conference held on November 4, an American lawyer specializing in financial market regulation and the current member of the SEC Hester Pierce, explained that the reason BTC spot ETFs have been repeatedly rejected over the years “is that the Bitcoin markets don’t look like our regulated securities markets.”
Future markets are indeed strictly regulated which does dampen the potential volatility of cryptocurrency ETFs based on futures options. However, the exposure to the cryptocurrency market via such financial instruments is severely limited.
A non-futures ETF would be a game-changer for institutional-scale investors unwilling to use cryptocurrency exchanges or other crypto-based products to expand their exposure to Bitcoin and other digital assets. The introduction of a spot BTC ETF would greatly expand possibilities for corporations and institutional investors to expand their portfolios with digital assets, which would increase the crypto market’s liquidity via the addition of new financial inflows.
