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  • Leading DeFi Money Market Protocol Aave Continues the Charge Behind ProBit Exclusive’s DeFi Initiative

    Leading DeFi Money Market Protocol Aave Continues the Charge Behind ProBit Exclusive’s DeFi Initiative

    With the conclusion of ProBit Global’s commemorative MATIC Exclusive, the listing platform has opted to maintain its DeFi-centric theme with a newly launched ProBit Exclusive starting August 10 featuring 50% off AAVE, the top lending protocol across DeFi.

    DeFi has significantly disrupted traditional financial services with ProBit Global enabling holders to gain diversified exposure to the global network effects of Ethereum, off-chain scaling capabilities of Polygon, and the unmatched liquidity across Aave’s lending pools with its newest Exclusive unveiling.

    Aave’s adoption has continued to grow at full scale, currently dominating DeFi by 16.73% with over $22B in total liquidity and its primary $17.5B V2 markets leading the charge. aTokens play a core role across the protocol’s 20+ liquidity pools, representing the underlying value of deposited assets along with interest-bearing properties that have continued to attract liquidity providers.  

    The migration to V2 provided significant upgrades such as expanding flash loan capabilities for their benchmark-setting undercollateralized loans, enabling traders to set up lucrative arbitrage opportunities. 

    V2 also introduced a preliminary credit delegation feature, which essentially enables a creditor to establish a credit line for potential borrowers based on criteria other than collateral to establish another gateway to procuring uncollateralized loans.

    An overarching objective of streamlining multiple markets has expanded Aave markets to Layer 2 mainstay Polygon, which has quickly surpassed the $4B mark as an increasing number of DeFi users continue to endorse its significantly reduced fees. 

    AAVE also launched its AMM market back in March due to the considerable demand generated from the Uniswap V1 market and now features both UNI and BTP pools to enable Uniswap and Balancer users to post LP tokens as collateral. As part of its decentralized ethos, AAVE governance retains oversight over prospective AMM protocol and collateral onboarding, a significant utility feature behind AAVE tokens. 

    AAVE stakers can also generate 6.5% APY rewards for locking tokens into the Safety Module currently backed by $1.1B in StkAAVE. The core security mechanism provides a failsafe against shortfall events or cases where liquidity is severely compromised. Aave Balancer Pool (ABPT) liquidity providers earn aBPT tokens that can be locked into the Safety Module to garner 15.1% APR. In the actual event of a shortfall, 30% of all StkAAVE and StkaBPT allocated as safety capital will be used to cover any resulting liquidity deficits. 

    Users can also liquidate an undercollateralized position whenever a loan’s health factor drops below 1 by re-purchasing a portion of the amount borrowed and earning the right to claim part of the underlying collateral at a discount. 

    Aave rallied following the announcement of Aave Arc‘s release in August to provide private lending pools for white-listed institutional investors in what is essentially a legitimate DeFi moat to meet the growing institutional interest behind smart-contract-based DeFi protocols.

    Founder Stani Kulechov detailed his vision for an Ethereum-based Twitter alternative, pointing to the potential implementation of a DAO to enable content creators to establish transparent monetization channels and ownership while bypassing the restrictive censorship controls that plague the currently leading platforms. 

    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 600+ 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

    ProBit Global: www.probit.com
    ProBit Telegram: https://t.me/ProbitEnglish

  • Sell Gold to Buy Bitcoin? Recent Data Seems to Support the Move

    Sell Gold to Buy Bitcoin? Recent Data Seems to Support the Move

    Key takeaways:

    • The researchers at Ecoinometrics have taken a close look at historical market data and compared gold’s and Bitcoin’s store of value properties
    • Bitcoin outperforms gold in almost every way, even when accounting for Bitcoin perceived high volatility
    • Given the current economic climate, the price of gold should be way higher, which is a possible indicator that Bitcoin is already chipping away at gold’s store of value market position

    Judging by the market data analyzed by the Ecoinometrics research team, gold is severely underperforming, despite the negative real yields which should in theory push the value of the precious metal upwards considerably. While the inflation rates continue to increase on the tailwind of massive Covid-19 relief-related economic stimulus programs, the price of gold hasn’t increased by as much as one would expect.

    Since the start of the year gold’s value continues to decrease when priced in BTC

    Perhaps the most telling indicator for the gold’s disappointing performance this year is the direct comparison to Bitcoin. When charted in the value of BTC, gold continues to dip ever lower while the world’s biggest cryptocurrency continues to do well in the time of relative economic adversity.

    Image source: Ecoinometrics

    The current trend was established despite no BTC ETF being available in the US, which severely limits the investing options for corporate investors choosing their store of value option. When the BTC ETF is finally approved by the SEC, the outflow of funds from Gold ETF to BTC ETF is very likely to commence and push the relative value of gold even lower.

    We have recently covered how traditional financial institutions are lining up to provide in-house crypto services that would enable wealthy clients to invest in digital assets. Wells Fargo and JPMorgan were the latest examples of this trend. One can only imagine by how much the corporate funds’ flow to the crypto market would increase if there was a fully regulated ETF option readily available.

    Buy/Sell BTC

    Gold hasn’t benefited from high inflation rates by as much as would be expected

    Historically speaking, when the real yields turn negative the price of gold explodes. At its height, gold did momentarily cross over the $2,000 mark but hasn’t managed to hold the price for very long. At the moment, the market capitalization of gold controlled by ETFs and similar financial instruments represents a third of Bitcoin’s market cap.

    Image source: Ecoinometrics

    There are different perspectives one could choose when looking at the current situation. You could say that the price of gold is bound to explode but it just hasn’t happened yet. Granted, this would be a somewhat realistic outlook. However, it is hard to imagine why gold’s massive increase in value would be just around the corner when it hasn’t made a move up to now when the economic situation with negative real yields and rising inflation rates was perfect for gold to thrive.

    The second option, as proposed by Ecoinometrics, is that gold has plateaued and we won’t see a big move in the near future. This can only happen if the Fed manages to balance real yields and prevent inflation from increasing. If that happens, buying gold as a hedge against inflation and its value as a safe haven asset wouldn’t be appealing to investors.

    The third option is that gold was going to exponentially grow, but it hasn’t due to Bitcoin siphoning away some of the funds that would historically find its way to the gold market. The last option does seem very likely. If you are choosing a store of value, wouldn’t you rather choose one that hasn’t even become widely adopted yet but has still managed to outperform most traditional assets over the last decade?

    Over the long-term gold’s low risk prevails, they say…

    The most common argument when investors are choosing gold over Bitcoin is that gold’s low returns are justified due to the low inherent risk it introduces to a traditional portfolio consisting of stocks, bonds and precious metals.

    When taking a step back and neglecting the short-term volatility of Bitcoin, we can quickly deduce that the equation is not as simple as that. While Bitcoin certainly carries a higher risk, which is most prominently felt in the short-tern, the risk-adjusted returns over longer periods of time are painting a different picture. 

    Image source: Ecoinometrics

    The risk/reward proposition for gold is far worse than for Bitcoin when calculated as a Sortino ratio, which is a helpful way of estimating the investment’s return while taking a given level of bad risk into account. In short, the ratio differentiates harmful volatility from total overall volatility.

    On this basis, an investment in gold doesn’t seem at all enticing, not on a one-year scale and not over an eight-year period. We haven’t even mentioned Bitcoin total returns over the same amounts of time, which completely obliterate whatever gold manages to produce. Keep in mind though that as Bitcoin matures, the total returns will continue to slowly normalize.

    At the moment, choosing Bitcoin over gold as a method to store value seems quite obvious. Currently, gold’s low volatility and associated risk levels are not enough to outweigh the benefit of high risk-adjusted returns of Bitcoin.

    Buy/Sell BTC
  • Top 3 Coins to Watch – Week 32

    Top 3 Coins to Watch – Week 32

    The cryptocurrency market ended Week 31 with a total market capitalization of $1.80 trillion and the sector is now eying to reclaim the $2 trillion valuation. Bitcoin, the world’s largest cryptocurrency is up by more than 15% in the last 7 days and is trading above $45,000 for the first time after May 18. Ether on the other hand is successfully riding the wave caused by the London hardfork, which introduced a fee burning mechanism, resulting in ETH growing by more than 20% in the last 7 days. However, we have eyes on three different altcoins this week. Without a doubt, altcoins are a riskier investment than top tier coins, but the greater risk is compensated by higher potential returns on investment.

    1. Terra (LUNA)

    The Terra blockchain, which acts as the basis of the algorithmically governed stablecoin platform called Terra, is developed by a South Korean-based company Terraform Labs. The platform is built on the Cosmos technology and utilizes a Proof-of-Stake (PoS) consensus mechanism. LUNA is the reserve currency of the Terra platform. It has three key functions. These are ensuring the price stability of Terra stablecoins, mining Terra transactions through staking and providing incentives for the blockchain’s validators.

    Buy/Sell LUNA

    Users and Holders have High Expectations for the Upcoming Columbus-5 

    Terra users, LUNA holders and speculative investors are expecting to benefit from the upcoming massive Terra network upgrade called Columbus-5. The highly anticipated upgrade, often referred to as a game-changer for the Terra platform, will simplify the system’s tokenomics, introduce a LUNA burning mechanism, as well as allow integration with other blockchains. After the upgrade, Terra will be able to support interchain assets from Cosmos, Polkadot, and Solana blockchains. Holders, investors, and developers are hoping, that this will increase the platform’s use cases and boost its adoption. Even though the Columbus-5 upgrade is currently scheduled to launch sometime in Q3 2021, the high expectations are already affecting LUNA’s price. LUNA, which is currently changing hands at a price of $14.30 per coin, is up by almost 100% in the last month. I think you can see the reasons why LUNA is repeatedly being named as one of the altcoins with the highest potential in 2021. In more recent news, Bitfinex launched LUNA margin trading on August 5. 

    2. Voyager Token (VGX)

    The Voyager Token (VGX), formerly known as Ethos (ETHOS), is rewarded to the users of the Voyager crypto broker ecosystem. The token has a circulating supply of 220 million VXG and a total supply of 222 million tokens. When staked through the official Voyager app, the held VGX generate 7% interest. VGX can also be stored in its native wallet, the Ethos Universal Wallet which supports another 150+ cryptocurrencies. The Voyager team has plans to soon launch their own loyalty program with rich cashbacks and other rewards.

    Buy/Sell VGX

    VGX Surged after Voyager’s Acquisition of the Crypto Payment Processor Coinify

    Voyager Digital has recently announced the acquisition of the Danish cryptocurrency payment processor Coinify. Coinify’s crypto payments infrastructure allows merchants to accept digital assets while receiving pay-outs in traditional currencies. The platform supports more than 20 different fiat pay-outs and is available in Europe, Asia, North America, and South America. The attempt to expand Voyager’s range of services cost Voyager $85 million and was reportedly paid in cash and stock. Stephen Ehrlich, CEO and Co-founder of Voyager, thinks that this was a good deal, as he thinks “payments are the next frontier” in the cryptocurrency space. Investors and VGX holders seem to agree with Ehrlich, as the VGX token gained more than 50% last week, making it one of the most profitable crypto assets to hold among the top 100.  

    In addition, the Voyager team is in the process of rolling out the new Voyager Token, VGX 2.0. The official VGX token swap date is August 12. If you hold VGX on the Voyager app, your tokens will be swapped automatically on that date. In case you hold the tokens on unsupported exchanges or wallets, follow the instructions published here. After the competition of the swap, the Voyager token will continue trading under the same ticker – VGX. Furthermore, the much-anticipated launch of our Voyager Loyalty Program (VLP) featuring cashbacks and other rewards for users has been scheduled for September this year.

    3. Kava (KAVA)

    Developed by Kava Labs the Kava blockchain boasts with the title of the first multi-blockchain DeFi lending platform. Users are eligible for rewards in the form of KAVA tokens for depositing various cryptocurrencies to the protocol’s multi collateral CDP system. The Kava blockchain utilizes the Tendermint consensus and is secured by numerous validators. However, only the top 100 validators are eligible to receive staking rewards. In addition, Kava has established close partnerships with industry leaders such as Binance, Kraken and Ripple.

    Buy/Sell KAVA

    Kava Team is Preparing for the August 30 Kava Swap Mainnet Launch

    After successful launch of the Kava Swap Incentivized Testnet on July 12 and extensive testing, which took place until August 5, Kava team is now getting ready for the Kava Swap mainnet launch. On August 13, the team will publish the Kava Swap Testnet Retrospective, which will include a full list of the winners of the $120K testnet prize pool, in-depth statistics, and key project updates. Nevertheless, the date of the full mainnet launch of Kava Swap has already been revealed. The novel product from Kava Labs is essentially a cross-chain Autonomous Market Making (AMM) Protocol will go live on August 30. Once fully launched, Kava Swap will allow users to swap between tokens and earn rewards for providing liquidity to the protocol’s liquidity pools.

  • Phoenix Finance to launch DeFi protocols on Polygon, BSC and Wanchain

    Phoenix Finance to launch DeFi protocols on Polygon, BSC and Wanchain

    Phoenix Finance (PHX) is set to relaunch its protocols on Polygon, Binance Smart Chain, and Wanchain. DeFi protocol Phoenix Finance (PHX), previously known as FinNexus has revealed that it is set to relaunch its protocols on Polygon, Binance Smart Chain, and Wanchain. This means it will expand its offerings to three of the most used and scalable blockchain platforms out there.

    Relaunch Timeline

    The protocols on the Polygon chain will be deployed first on the Ethereum layer-2 platform, rather than Ethereum because of its high gas fees.

    This is expected to take place on August 9. After the successful launch of the Polygon protocols, the options product under the Wanchain chain will follow on August 16, while both options and leveraged tokens for the BSC chain will be rolled out on August 23.

    The Phoenix team is also considering the Ethereum L2 project and Arbitrum as a potential future platform to deploy on.

    Improved protocols for users

    Phoenix is pioneering a cross-chain DeFi protocol for writing options exposure for multiple assets from within collateral pools. This Multi-Asset Single Pool mechanism for decentralized peer-to-pool options platforms enables anyone anywhere to leverage or hedge their positions in a variety of crypto assets.

    With the rebranding to Phoenix Finance, users will experience a seamless and excellent experience interacting with the protocols. Phoenix has worked on ensuring that its options trading contracts provide users with options to leverage their risks. Phoenix uses an intuitive design to ensure that users have the best trading experience and trading options is simple and easy.

    Users can easily create options with supported tokens as underliers. The options are traded within a special pooled liquidity environment designed to ensure efficient use of funds.

    Phoenix is set to utilize liquidity pools from popular DEXs, including Sushiswap, Unisqap, QuickSwap and Wanswap. This ensures that there is always liquidity for traders to stake their tokens in options contracts.

    Leveraged Tokens

    Leveraged tokens are a core product that Phoenix Finance wants to introduce into DeFi. This token type is popular within centralized exchanges and allows users to maintain leveraged exposure to crypto-assets without managing a leveraged position. This means that traders can trade a product without the risk of liquidation.

    For example, the ETHBULL/USD, also known as 3X Long Ethereum Token, offers a return that corresponds to 3 times the daily return of ETH. Thus, for every 1% ETH that goes up in a day, ETHBULL rises by 3%, with the rebalancing mechanism helping maintain the target leverages.

    In addition, Phoenix Finance codes are open-source and all the mechanisms and transactions are public and on-chain. This ensures better transparency compared with leveraged tokens traded on centralized exchanges.

    New mining and staking options

    Phoenix Finance has also revamped its mining and staking mechanisms to ensure that users get the best investment yields, including the ability to boost earnings using PHX tokens.

    Regarding the latter, the PHX token is the network token for the entire suite of FinNexus protocol clusters. It serves a variety of purposes, including liquidity mining, governance, voting, and more.

    Users can boost their mining rewards by staking PHX tokens in the mining contract. A minimum of 500 PHX is required for the boosting to become effective.

    Staking rewards increase based on the amount staked and boosting factor. Phoenix does not place a maximum limit to the boosting factor. However, the speed at which rewards increase reduces as the staking amount grows to ensure a sustainable system.

    Future developments

    Phoenix Finance plans to expand its ecosystem with more blockchain platforms expected to be added in the coming months. They also plan to launch new financial products and options that will allow users to maximize their capital.

    To learn more about Phoenix Finance visit their website and social media channels, including Medium and Twitter.

  • Hockey Legend Alex Ovechkin Mints Exclusive NFT Collection with Ethernity Chain

    Hockey Legend Alex Ovechkin Mints Exclusive NFT Collection with Ethernity Chain

    Los Angeles, CA, 8th August, 2021,

    Ethernity, the groundbreaking crypto based marketplace and platform for digital collectibles and non-fungible tokens (NFTs), today announced the details of the “Drop #15: Alex Ovechkin” authenticated NFT collection. The Alex Ovechkin collection was designed in collaboration with popular digital artists Impossible Brief showcasing the major accomplishments, signature gear, and proud Russian heritage of one of the greatest hockey players to ever grace the rink. This announcement comes on the heels of Ovechkin’s newly signed $47.5mm USD contract as he marches onward in his NHL career. The NFT collection will be available to the public for auction beginning on August 8th, 2021 at 12pm ET for 72 hours only on Ethernity Chain. 

    Ethernity and the team at Impossible Brief sought to push the boundaries of NFT art by creating animation styles that have never been seen in the sports collectibles world before. From raising the coveted trophy to Ovi’s signature yellow-laced skates, collectors won’t want to miss out on this opportunity to own a piece of sports NFT history. See stills of the unreleased collection here and here. 

    “For me all this time in my career I always sign things or take pictures and now that we can do it I think making digital collection that lasts forever it is something I wanted to do” says Ovechkin. “I am excited about what we created and hope the fans all over the world will love it.”

    The Collection Includes:

    • The Great 8 (1 of 1 available)
      • Auction Starting Price: $1 in ETH
    • Laced Up (18 available)
      • Auction Starting Price: $188 in ETH
    • Russian Sniper (38 available)
      • Auction Starting Price: $188 in ETH
    • A Taste of Victory
      • Auction Starting Price: $288 in ETH 

    The highest bidder and winner of The Great 8 ( 1 of 1 crypto asset) NFT will also earn the opportunity for an intimate 1×1 meet and greet with the heralded hockey hero in Washington D.C. to take place during the upcoming hockey season. Ovechkin is just the latest icon to mint an NFT collection with Ethernity with the overarching goal of creating a closer sense of community between fans, collectors and culturally iconic figures. 

    “The partnership between Alex Oveckin, Impossible Brief and Ethernity originated from a shared vision to honor his fans and legacy in a new, digital way that aims to create a closer connection and sense of community,” said Ethernity’s CEO Nick Rose. “Ovechkin is one of the greatest players of all time and we are excited to bring this coveted one-of-a-kind experience to collectors worldwide.

    Ovechkin’s choice to mint an NFT with Ethernity is congruent with other legendary athletes and icons  including Tony Hawk, Fernando Tatis Jr. and Muhammad Ali’s estate who have chosen to enter the space led by Ethernity. Positioned as one of the largest growing digital marketplaces and platforms, Ethernity has consistently introduced iconic figures to the NFT metaverse, which they expect to have a long-term positive impact on blockchain adoption.

    Drop #15: Ovechkin x Impossible Brief drop will begin auction on August, 8th 2021 at 12pm ET at ethernity.io. The auction will be available for a limited 72 hours. 

    To view the Alex Ovechkin crypto collection and other authenticated NFTs available please visit ethernity.io. 

    ###

    About Ethernity Chain: 

    Founded in 2021 Ethernity is the groundbreaking NFT (non-fungible token) platform and marketplace for crypto collectibles, auctioning verified artwork featuring the top artists and cultural icons from sports, music, film, gaming, tech, history, entertainment and more. Each of these digital artworks is represented as an authenticated non-fungible token (aNFT). Positioned as one of the largest growing digital marketplaces, Ethernity Chain combines the utility of DeFi and innovative aNFTs to create an exclusive pipeline to rare, collectible content from notable figures and well-established digital artists. 

    Contacts
    • Sarah Wegrzynski
    • Sarah.wegrzynski@powerdigital.com
  • Bulls Push Prices of BTC and ETH to Multi-Month Highs, Total Market Cap Grows by More Than $200B

    Bulls Push Prices of BTC and ETH to Multi-Month Highs, Total Market Cap Grows by More Than $200B

    Key Takeaways:

    • Increased demand for Bitcoin creates a supply shock, which could push the price of BTC over $50,000 in the short-term
    • Following the successful launch of the London upgrade, Ethereum continues to build on its upward momentum that started last month
    • The total market capitalization grew to $1.87 trillion and reached the highest point since May 19 crash when more than $300 billion were lost in a single day

    After a prolonged retraction from April’s all-time highs, the cryptocurrency sector seemed to have cooled off and lost its momentum. This week, however, the bulls were running amok as the market saw huge gains by Bitcoin and Ethereum. Read along for a quick recap of this week’s market action.

    Bitcoin climbs over $45,000, the number of new BTC buyers continues to grow

    Since Aug 5, the price of BTC has rallied from $37,462 to $45,275 in the next three days as it recorded a 21% increase. According to Lex Moskovski, CIO of Moskovski Capital, the data from Glassnode seems to suggest that the number of new entities buying BTC “continues to hit ATH”, which in turn creates a BTC supply shortage at current price levels.

    Prominent Bitcoin on-chain analyst Willy Woo also thinks the supply shock led to a rapid price increase we’ve seen over the past few days and is convinced the current demand for BTC could push the price over $50,000 to address the “demand/supply imbalance in the market”.

    Buy/Sell BTC

    Ethereum’s London Hard Fork goes live, the market responds positively

    In anticipation of Ethereum’s London Hard Fork, the price of the second-largest digital currency rallied by more than 50% from its July low of $1,728. Since then, the price has nearly doubled, and  ETH came very close to breaching the $3,200 price point this week. In the last 7 days, ETH gained 17.4% and set a cycle high of $3,187.

    The latest ETH upgrade introduces a previously non-existent market dynamic to Ethereum token economics. With the introduction of EIP-1599 that went live with the London upgrade on August 5, ETH tokens will be burned with every transaction made on the Ethereum network. This creates deflationary pressure and consequently shrinks the supply of ETH.

    With the upcoming Ethereum 2.0 protocol upgrade coming by the end of the year and many ETH already staked in anticipation of the ‘2.0’ upgrade, ETH was bound to see a massive price increase as predicted by ConsenSys CEO Joseph Lubin last month.

    Buy/Sell ETH

    The total crypto market cap grows by more than $200 billion

    In the last 7 days, on the tailwind of recent price surges, the total cryptocurrency market capitalization has increased by 13% and grew by $215 billion to reach $1.87 trillion. This is the highest price point the combined market cap has reached since the crash on May 19 earlier in the year, when more than $300 billion were wiped out in a single trading day.

  • Port Finance to List on AscendEX

    Port Finance to List on AscendEX

    AscendEX, a global cryptocurrency financial platform with a comprehensive product suite, is excited to announce the Port Finance token (PORT) under the pair USDT/PORT on Aug 9 at 2 p.m. UTC. 

    Port Finance is a money-market, non-custodial liquidity protocol on Solana. They aim to provide a comprehensive suite of lending products, including variable-rate lending, fixed-rate lending, and interest rate swap. Their idea is to take advantage of the growth in size and capability of the Solana network.

    Port Finance brings interest rate markets to the Solana ecosystem. It leverages the Solana blockchain’s high speed and low latency with a product suite that includes variable rate lending, fixed-rate lending, and interest rate swaps. Port Finance takes a three-step approach; they provide a baseline lending protocol similar to Compound and Aave on Ethereum. Secondly, they launch a fixed rate lending protocol that utilizes the Serum order book. And finally, they build out an interest rate swap market that uses the Serum order book.

    Their focus is on leveraging the technological advancements of the Solana blockchain and the Serum ecosystem to bring lending products to the market that are difficult to implement on Ethereum. By utilizing the Solana blockchain’s low latency network, Port Finance will allow the user to borrow more with the same amount of collateral compared to Ethereum products such as Compound and Aave.

    In the future, they plan to launch fixed-rate borrowing utilizing the Serum order book. This will allow the user to decide on a borrowing rate using a live market instead of a bond curve while also providing a fixed interest rate product. In addition, the native token PORT is utilized as a governance token and to share protocol fees with a buy and burn process. 

    The team is made up of tech and finance veterans with strong technical backgrounds having previously worked at companies such as Google, Facebook, Microsoft, and trading firms. The team met in London while studying Computer Science at Imperial College. The team has also contributed to Solana and Serum open-source code development.

    About AscendEX 

    AscendEX (formerly BitMax) is a global cryptocurrency financial platform with a comprehensive product suite including spot, margin, and futures trading, wallet services, and staking support for over 150 blockchain projects such as bitcoin, ether, and ripple. Launched in 2018, AscendEX services over 1 million retail and institutional clients globally with a highly liquid trading platform and secure custody solutions. 

    AscendEX has emerged as a leading platform by ROI on its “initial exchange offerings” by supporting some of the industry’s most innovative projects from the DeFi ecosystem such as Thorchain, xDai Stake, and Serum.  AscendEX users receive exclusive access to token airdrops and the ability to purchase tokens at the earliest possible stage.To learn more about how AscendEX is leveraging best practices from both Wall Street and the cryptocurrency ecosystem to bring the best altcoins to its users, please visit www.AscendEX.com.

    For more information and updates, please visit:
    Website: https://ascendex.com
    Twitter: https://twitter.com/AscendEX_Global
    Telegram: https://t.me/AscendEXEnglish
    Medium: https://medium.com/ascendex

    About Port Finance

    Port Finance is a money-market, non-custodial liquidity protocol on Solana. They aim to provide a comprehensive suite of lending products, including variable-rate lending, fixed-rate lending, and interest rate swap. 

    For more information and updates, please visit:
    Website: https://port.finance/
    Twitter: https://twitter.com/port_finance
    Telegram: https://t.me/port_finance
    Discord: https://discord.com/invite/nAMXAYhTb2

  • Social NFT Platform DeFine Coming To TRON

    Social NFT Platform DeFine Coming To TRON

    Singapore, Singapore, 8th August, 2021,

    Social NFT platform DeFine has entered a strategic partnership with TRON, one of the largest and most popular blockchain-based operating systems in the world. DeFine is a social NFT platform for all creators such as artists, musicians, influencers, gamers, and athletes. The platform facilitates social interaction, engagement, and communication for creators and their fanbase with digital assets like NFTs and social/fan tokens, and real assets on the blockchain. The project recently raised $5 million in strategic investments as part of a wider effort to onboard more companies to the NFT world.

    “I am thrilled to announce that the Social NFT platform DeFine will be integrated with the TRON Network,” said Justin Sun, Founder of TRON. “I look forward to witnessing the growth of the NFT space as DeFine and APENFT cooperate to take NFT’s to new heights.”

    With the integration of the DeFine platform with the TRON ecosystem, users and creators around the world will be able to use the DeFine platform for trading and creating assets. At the same time, DeFine will cooperate with TRON and the APENFT Foundation to purchase valuable NFTs in the global market and jointly build an NFT ecosystem. 

    About APENFT 

    APENFT was born with the mission to register world-class artworks as NFTs on the blockchain. We aim to build a bridge between top-notch artists and blockchain and to support the growth of native crypto NFT artists. Like how blockchain democratizes finance like never before, APENFT, by turning top artists and art pieces into NFTs, not only upgrades the way artworks are hosted but also transforms them from being elite-exclusive items to something that truly belongs to the people and mirrors their aspirations. APENFT is the art for everyone.

    Website | Twitter

    About TRON 

    TRON is dedicated to accelerating and the decentralization of the internet through blockchain technology and decentralized applications. Founded in September 2017 by Justin Sun, the company has delivered a series of achievements, including MainNet launch on May 2018, network independence on June 2018, and TRON Virtual Machine launch on August 2018. July 2018 also marked the acquisition of BitTorrent, a pioneer in decentralized services boasting approximately 100M monthly active users.

    Website | Telegram | Medium | Twitter | Reddit

    Contacts
    • Anjali George
    • press@tron.network
  • Super Buddha’s Gaming Inspired N.F.T. Drops

    Super Buddha’s Gaming Inspired N.F.T. Drops

    New River Fine Art announces Super Buddha’s 3 new gaming inspired NFT’s dropping on August 13th in partnership with Blockparty.co and Market Art + Design Hamptons.

    Internationally acclaimed artist Super Buddha, who splits his time between Miami and Shanghai, has garnered quite the star-studded list of collectors, admirers, and advocates.  From musical artists such as Tory Lanez and Swae Lee; to business tycoon, Gianluca Vacchi; and boxing superstar, Floyd Mayweather these celebrities add superstar importance to an already incredible collector-base. Now, fine art collectors and crypto investors alike have the opportunity to collect Super Buddha’s 3 new NFT’s which will drop on Blockparty.co and debut at Art Market Hamptons August 13th with an in-person appearance by the artist.

    As a non-native Chinese artist living in Shanghai, Super Buddha began creating art in a hybrid environment of new and old, where the constant influx of Western pop culture influences clashed with the strict and ridged ways of the Hukou System. Coming of age as one of the pioneers of the Graffiti scene in Shanghai, Super Buddha found himself straddling two very distinct worlds ­- the iconic Eastern Art and Urban Art cultures.  Being one of the first artists to tag buildings in Shanghai, he risked life and limb to help establish a new style of Street Art that did not yet exist in this heavily populated area of China.

    Lisa Burgess, President of New River Fine Art remarks that 

    “On the surface, Super Buddha’s N.F.T.’s are whimsical works of animation full of positive messaging inspired by retro video games. Upon closer examination, the viewer notices underlying narratives influenced by modern advances like cryptocurrencies and blockchain technologies.  Deep within these plots come a more vocal examination and analysis of international political issues like the threat of government interference on autonomous decentralizations, and the consequences of oppressive regimes. In the end, the juxtaposition of good and evil on his signature character, ‘Super Buddha’, reinforces a mental exercise we can all practice – Reject the impulses of materiality while reflecting on life lessons with upbeat gusto.”

    These new N.F.T.s flip the script on gaming by animating his 32-bit buddha as a token of enlightenment that brings blessings to retro-inspired video game worlds.  These highly anticipated crypto-native and culturally relevant N.F.T.s by Super Buddha highlight his love for 1980’s and 90’s video game nostalgia and help bring a positive message to the impassioned contexts of gaming.  Super Buddha’s lighthearted artwork features Buddha as a contemporary spokesperson that captivates the audience with witty one-liner blessings.   Exhibited as a repetitive and reductively minimalistic bust of a bubbly cheeked, straight teethed, and large-eyed figure, this bald Chosen One is eternally cheery with his signature long earlobes that symbolize a conscious rejection of the material world in favor of a more spiritual enlightenment. 

    Acquisitioning details, booth information, or additional art fair inquiries can be directed toward Diego Dietrich, Marketing Director, at marketing@newriverfineart.com or calling 954.524.2100.