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Ethernity Chain (ERN) Goes Live On Binance’s Innovation Zone
George Town, Cayman Islands, 22nd June, 2021,

Ethernity Chain (ERN) is coming to Binance’s Innovation Zone and will receive three trading pairs later today. The popular community-oriented platform with a strong focus on authenticated and limited edition NFTs has received a lot of attention lately. This token listing further enhances the appeal of what Eternity Chain brings to the table.

As a platform renowned for its limited-edition authenticated Non-Fungible Tokens, Ethernity Chain has built up a strong reputation in the past few months. Numerous famous individuals, celebrities, and sports athletes have partnered with the team to create new collectibles on the platform. Recently, Ethernity Chain teamed up with Manny Pacquiao, footballer Pelé, Phil Ivey, Anderson Silva, Marilyn Monroe and the Winklevoss brothers further illustrating the appeal NFTs have at this time.

The native ERN token has multiple purposes within the Ethernity Chain ecosystem. For example, it can be used to buy NFTs, stake the token for rewards, governance rights through voting on proposals, and is subject to period buybacks by the team through platform profits. Getting this token listed on a major trading platform like Binance can introduce thousands of people to ERN and the broader Ethernity Chain ecosystem.

“When the biggest exchange in the world decides to incorporate your company into theirs, it’s definitely not something to take lightly. This is a massive statement that reverberates to all our artists, charities, icons and of course, the community” – Nick Rose, CEO Ethernity Chain

Binance has confirmed ERN will become part of its Innovation Zone. The Innovation Zone serves as a dedicated trading zone where innovative assets with potentially higher volatility are introduced to Binance’s traders. With this higher trading risk comes a potentially higher reward.

Interested users must go through the Innovation Zone’s web page and complete a questionnaire to access ERN and other listed tokens. There are no trading restrictions on these trading pairs. For Ethernity Chain, the trading pairs will be ERN/BNB, ERN/BUSD, and ERN/USDT. Trading will commence today at 06:00 AM UTC.

About Ethernity Chain

Ethernity is the groundbreaking authenticated NFT project which auctions verified artwork featuring the top artists and stars from sports, music, film, gaming, tech, history and entertainment. Each of these digital artworks is represented as a non-fungible token (NFT). The pieces feature well-known public figures, and a portion of all funds raised from the endeavor will be donated to charitable causes. Ethernity Chain combines the utility of DeFi and merges it with NFTs to create an exclusive pipeline to rare, collectible content from notable figures and well-established digital artists.

Contacts
- Steve D’Agostino
- Steve@ethernity.co
June 22, 2021
Bitcoin Failed At $32K — How To Make Profits From Bitcoin’s Plunges
After a significant rebound following the retest of $32K on Sunday, Bitcoin slightly hit $41K earlier last Tuesday (UTC). However, it failed to penetrate through the stiff resistance of $40K-$41k and lost momentum subsequently, hovering above the $35K support level. At the time of writing, the price of Bitcoin is changing hands at $32K (on Bitwells).

Starting from Saturday, after the big price dip, Bitcoin’s several attempts to breach $36K were met with heavy resistance. The digital asset seems losing momentum and fails to consolidate. The pullback in Bitcoin also makes many traders uncertain about what may happen next.

Considering the previous Bitcoin price history, according to Tina Ong, Bitwells technical analyst, Sunday’s low and Bitcoin’s downturn this week seemed to suggest that the market corrective phase still continues. If Bitcoin fails to stand at the support level of $30K, another test of lower support will be approaching. As the current crypto market has been weaker and more volatile than many investors expected, though the recent Bitcoin plunges had little impact on the long-term bullish trend, the imminent recovery is still on the way.

Before that, Tina Ong said, owing to the retracement, Bitcoin may see bigger plummets to its previous lows.

In addition to the overall momentum of cryptocurrency market, with the continued influence of China’s crypto ban and the United States’ crypto tax proposal, Bitcoin’s short-term bear is on the table. As the market conditions for Bitcoin bull have not been favorable at the time, it is crucial for traders or investors to choose a two-way trading tool with 100x leverage.

Bitwells is a futures trading exchange that enables traders to earn profits from both directions (long or short) with 100x leverage. With 100x leverage, you can make profits and maximize your profits 100 times with only a 1% margin.

Advantages Of Bitwells
- Demo Account With 10 BTC
Once registered, users on Bitwells will be offered an actual trading account and a demo account with 10 BTC. You can practice leveraged trading and improve your trading skills via a demo account without worrying about losses.
- Transaction Security
The deposit address on Bitwells is a tamper-resistant cold wallet address with multiple signatures, which protects your margin from being hacked. Additionally, the super transaction engine and strong basic support provided by Amazon ensure that users’ every transaction is accurate, fast, and safe.
- 100% Deposit Bonus
Bitwells has no deposit charges and offers its users a 100% deposit bonus. If you deposit 1 BTC, you will get 2 BTC. The deposit bonus can not be withdrawn but can be used for trading to make more profits. In a downside trend, more margin lessens the probability of forced liquidation.

Successful traders are always keen to adjust their strategies to market changes. Bitwells maximizes profits out of your Bitcoins.

If you are looking for a platform to do some futures trading, Bitwells could be the one for you.

Sign up and make money right away！
June 21, 2021
Splinterlands Announces Partnership with Yield Guild Games
Media, Pennsylvania, 21st June, 2021,

The hit blockchain game has just announced partnership with Yield Guild Games (YGG), a well-known guild of play-to-earn gamers who work together to earn by playing NFT and blockchain games. Yield Guild Games has made a community-sized bulk purchase of in-game assets from Splinterlands. Additionally, YGG will provide ongoing efforts to onboard members of its community to Splinterlands, coordinated marketing releases with Splinterlands, and open invitations to Splinterlands’ founders for YGG AMAs. Yield Guild Games has also entered the private token sale for Splintershards (SPS), Splinterlands upcoming governance token, as a partner investor in allocated tokens. Details of the planned SPS release can be found at the Splintershards Whitepaper.

Splinterlands has provided Booster Packs from its now sold-out Untamed Edition as well as a large portion of land claims in the game’s upcoming Land Expansion and access to promotional Summoner’s Spellbook upgrades for new YGG users to start earning in the game.

This partnership will invite members of the YGG community to join Splinterlands, exemplifying YGG’s mission of seeking yield across the metaverse by adding a new game for its community to enjoy. “Splinterlands was absolutely made for communities like this one,” says Splinterlands co-founder Dr. Jesse Reich, who has always been a gamer himself and created Splinterlands from a vision of change that would empower players everywhere. “We are thrilled to see people coming together and exploring the possibilities of play-to-earn gaming with our project, which are literally endless.”

YGG in turn is excited for what will undoubtedly prove to be a mutually beneficial partnership for both the Yield Guild and the Splinterlands ecosystem. “YGG looks to invest in NFT games with strong play-to-earn tokenomics and a clear plan for guild-based gameplay,” said Gabby Dizon, co-founder of Yield Guild Games. “This is why we are comfortable investing in Splinterlands at this very early stage of development and we are pleased to be able to secure early, priority access for the benefit of our guild members,” he said.

ABOUT YIELD GUILD GAMES

Yield Guild Games (https://yieldguild.io/) is a decentralized gaming guild that pools investor funds to purchase yield-generating NFTs, and leverages players’ time and effort to optimise its community-owned assets for maximum utility and return. By merging NFTs and decentralized finance (DeFi), YGG’s mission is to create value for its members by developing the content and economy of virtual worlds and blockchain-based games.

A short documentary released in May 2021, Play-to-Earn: NFT Gaming in the Philippines, reveals the story of a rural community that earned an income through play-to-earn gaming amid the COVID-19 pandemic. The documentary, which was produced as a collaboration between Yield Guild Games, Delphi Digital and Emfarsis Consulting, demonstrates how NFTs and cryptocurrencies are providing transformative economic opportunities for people young and old in developing nations where jobs are lacking and crisis relief has been limited.

About Splinterlands

Founded in 2018, Splinterlands is a blockchain based trading card game in which trading cards are NFTs owned by players. With more than 100,000 registered accounts, Splinterlands users transact on the blockchain more than 600,000 times each day, making it one of the most active blockchain dApps in the world. Its players have battled more than 60 million times, making it one of the most active play-to-earn games in the world. And upcoming developments such as the addition of the SPS governance token and the land expansion make Splinterlands one of the most innovative and fastest growing projects in blockchain.

Contacts

Content Director
- Chris Roberts
- Splinterlands
- chris@splinterlands.com
June 21, 2021
ComfyToken Offers Holder Effortless Yield Generation Invigorated by ProBit Global Listing

Binance Smart Chain DeFi platform ComfyToken generated significant momentum following its rapid market cap ascension to 15M on the first day of launch. The platform boasts high protocol autonomy and ease-of-use, framing it as an ideal entry point for traders seeking passive income generation and having completed listing on ProBit Global.

COMFY holders receive a portion of fees derived from progressive network transaction fees, determined by the relationship between circulating supply and transaction size. A community fund built using 5% of the 1 T supply strategically locks up allocation segments according to specific durations.

This nest egg allows ComfyToken developers to make strategic capital injections when required throughout its early development cycle. All transactions will be accessible on a public ledger and announced before their finalization to ensure optimal transparency.

50% of all fees are dedicated towards a PancakeSwap Liquidity Pool to bolster price stability and enable reliable floor growth. To further catalyze expansion over time, the COMFY token burn rate will gradually increase, fostering a deflationary pressure effect.

ComfyToken will likely develop into a deflationary store of value, while a yet-to-be-developed secondary token will serve necessary utility functions on the Comfy network. Their proposed ERC20 sister token will be airdropped to COMFY holders in the future to leverage Ethereum 2.0.

The platform serves a necessary function within the crypto ecosystem, offering competitive fees, inherent stability, and a progressive one-year outlook. The ComfyToken development team has ambitious project targets for Q3 2021 and beyond, including technical evolutions, project partnerships, and bolstering market liquidity through strategic listings.

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.

ABOUT COMFYTOKEN

ComfyToken is a DeFi token based on the Binance Smart Chain. COMFY holders will enjoy a passive income generation experience that is primarily autonomous and stable. The ComfyToken team boasts ambitious project development targets for COMFY token and future platform additions.

PROBIT GLOBAL IS A BRAND TRUSTED BY MILLIONS OF USERS

100,000+ community members
800,000+ 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

June 21, 2021
Scaleswap announces whitelist opening and IDO launch date

Next-generation IDO launchpad Scaleswap (built on Ethereum layer 2, powered by Polygon) has announced major details about its much anticipated IDO. The IDO follows the heavily oversubscribed funding round, where Scaleswap raised USD 2.5 million from prominent VCs in the blockchain space.

Scaleswap IDO set for June 25

Scaleswap revealed in a report on its medium blog that the IDO would take place on its own launchpad on June 25, 2021, from 10:30 am UTC. 500,000 SCA tokens will be made available for public sale at $0.35 per token.

Scaleswap aims to raise $175,000 from this public sale, resulting in an initial market cap of $418,250. The IDO is expected to herald a significant milestone in the Scaleswap ecosystem as users can purchase SCA tokens for the first time.

Scaleswap launches IDO whitelist campaign

Scaleswap has launched a whitelist event for community members that seek to participate in the SCA token IDO. Participants will be required to register on the whitelist form and complete tasks listed within the whitelist campaign. Participants that have not completed all mandatory steps will be disqualified alongside duplicate entries.

Scaleswap has also deployed a fraud filter to detect bits, scripts and multiple emails from the same IP addresses. Entries made with these processes are removed from the whitelist ahead of the lottery for eligible participants.

The whitelist event ends on June 21, 2021, by 01:30 pm UTC, and a lottery draw will be held to select winners. Winners will be notified by email and provided instructions to complete KYC to participate in the Scaleswap IDO.

Following the KYC process, they would be required to transfer the ETH amount from Ethereum to Polygon guided by the Scaleswap wallet app to participate in the IDO.

It should be noted that the public sale is on a first-come, first-served basis, and eligible participants will be required to show up on time and process transactions quickly to secure a slot.

A community-based IDO launchpad platform

Scaleswap is a community-driven IDO launchpad focused on transparency with a long-term vision to transform the current IDO approach to a more sustainable, less market-dependent system that honors loyalty. It deploys an ETH layer 2 scaling protocol powered by Polygon that allows users to enjoy low fees and convenience.

Scaleswap also transforms governance and community incentive with its comprehensive scoring system (ScaleSCORE) that rewards loyalty and participation in 6 different dimensions. SCA tokens will be used for various utilities on the platform, including determining a user’s ScaleSCORE which decides on the eligibility to participate in future pools and which unlocks further features after crossing a certain threshold.

Scaleswap plans to release a fully customizable autopilot pool participation functionality, innovative swap and liquidity service offerings, and an instant mass-airdrop tool – all firsts in the launchpad ecosystem. To learn more about Scaleswap, visit its website https://scaleswap.io/.

Social Links:

Twitter: https://twitter.com/Scaleswapio
Telegram Group: https://t.me/scaleswap
Telegram Announcements: https://t.me/scaleswapann
YouTube: https://www.youtube.com/channel/UCa6yxnYy4z3wk1x4uhWhd0g
Medium: https://medium.com/scaleswap
LinkedIn: https://www.linkedin.com/company/scaleswap/

June 21, 2021
Top 3 Coins to Watch – Week 25

If you thought that the total valuation of the cryptocurrency markets cannot plunge lower, you were mistaken, as another week characterized by red numbers is behind us. All the top 10 cryptocurrencies excluding stablecoins, have lost value towards USD throughout the past week, which pushed the total market capitalization at the end of week 24 down to as low as $1.45 trillion. Hope that we see more green numbers in Q3. But if you want to see profit already at the end of week 25, these three coins are, in our opinion, your best bet.

1. Ethereum (ETH)

Ethereum is an open-source distributed blockchain that pioneered smart contract functionality. It operates as a decentralized virtual machine which can execute scripts. The smart contracts operate in a fast, immutable and trust less manner, while the speeds and capabilities of the Ethereum blockchain are going to further increase when Ethereum 2.0 is fully launched. Ethereum’s native asset Ether (ETH) is currently the second-largest cryptocurrency by market capitalization. Although it can also be used as a currency for transactions between different nodes, it is more commonly used to execute smart contracts. The Ethereum blockchain also hosts a number of ERC20 tokens with different utilities – these include Exchange tokens (BNB, OKB, HT, UNI), DeFi tokens (LINK, MKR, COMP, SNX, ZRX…) and several stablecoins such as USDC, DAI, TUSD, and USDT.

Buy/Sell ETH

London Upgrade Scheduled to hit the Ropsten Testnet on June 24

The much-anticipated London upgrade, which features several important EIPs is scheduled to go live on Ethereum testnets. London upgrade will be deployed on the Ropsten testnet at block 10499401, which is estimated to be added to the chain on June 24. Goerli and Rinkeby will receive the upgrade 6 and 13 days later respectively. Mainnet London launch date remains to be determined. The team also noted that the Kovan test network will be upgraded at a later date, likely once the upgrade will already be running on Mainnet.

The London upgrade includes 5 Ethereum Improvement Protocols (EIPs): the EIP-1559, which will make some changes to the fee market for ETH 1.0, EIP-3198 that will introduce an opcode that would give the EVM access to the block’s base fee, EIP-3529 that will remove gas refunds, EIP-3541 that implements a rule about rejecting new contracts starting with the 0xEF byte, and EIP-3554 that will delay the difficulty bomb to December 1, 2021. In a world where several prominent industry insiders believe that Ethereum will outperform Bitcoin, pushing forward with continued development is crucial to achieve that goal.

2. Binance (BNB)

Binance Coin (BNB) was originally launched in 2017 as an ERC-20 token sold through an initial coin offering (ICO). In April 2019, the Binance Chain was launched, and all the ERC-20 tokens were replaced with the BNB coin, which became the native cryptocurrency of the new blockchain. Binance Chain is still completely centralized, with Binance having complete control of block management. Binance users who utilize BNB to pay for trading, withdrawal and listing fees can enjoy significant discounts. While this used to be pretty much the only use case of BNB, the coin has a far greater utility now as it allows users to pay for gas fees, stake BNB, as well as participate in DeFi, liquidity pools, and DEX trading.

Buy/Sell BNB

Binance NFT Marketplace Goes Live on June 24

The famous cryptocurrency conglomerate Binance is soon expanding their range of offered services by launching a Binance NFT marketplace. The platform for buying and selling digital art pieces will go live on June 24. To kick off the NFT platform, Binance is presenting the “100 Creators” program, an NFT drop event that will feature content from 100 artists and creators, including Allen Iverson, Atletico Mineiro, Dynamo Kyiv, and the Ugandan National Museum. The full list of participating artists can be found here. The marketplace will support visual art content as well as unique digital collector’s items from gaming, sports, and music industries. In addition, BNB holders are already in expectation of the BNB quarterly burn, which is conducted at the end of each quarter. Judging by historical burn dates, the Q2 2021 BNB token burn should take place sometime around July 15.

3. CargoX (CXO)

The CargoX Platform is an Ethereum-based blockchain document transfer platform. The project aims to revolutionize and digitalize the logistics industry and its platform is already being utilized by the Egyptian Customs Authority. While the platform was developed with the shipping sector in mind, it can also be used in financial, manufacturing, trading, energy, services companies, and even governmental agencies. CargoX’s solution enables a fast, secure, and auditable way to transfer original documents as well as ownership of these documents. In addition, it facilitates distributed teamwork even with assets that would normally have to be handled manually in the corporate office environment, which proved to be extremely useful during the COVID-19 pandemic.

Buy/Sell CXO

CargoX’s platform processes more than 100 documents a day

The project, which pioneered a Smart Bill of Lading (B/L) already has a fully functional product and platform and is burning 100 CXO tokens per every document processed through their platform. Recently, the platform is processing record number of documents. On Wednesday, June 16, CargoX processed more than 100 documents (141 to be exact) for the first time in the history. The day after, already more than 200 smart documents have been sent using the platform. The high number of documents will likely lead to a large CXO burn, which could boost the token’s appreciation. In addition, from July 1 every importer into Egypt will be obliged to register the products he is importing through the Advance Cargo Information System, which uses CargoX platform as its backbone. This will, without a doubt, further boost the number of documents that get processed every day. Furthermore, the project is also suited for land and air freight and is looking to make a breakthrough to the Asian markets. CXO is currently trading at $0.386596 per token – a price, which could look absurdly low in a few years.

June 21, 2021
Adshares’ blockchain premium will revolutionize digital marketing
Adshares is calling for premium publishers to join and co-create this innovative decentralized ad network and reveal how decentralization can improve marketing businesses in practice.

As a part of its new business roadmap announced earlier this year, Adshares will launch the first and only advertisement network dedicated to blockchain premium publishers in the next quarter. This will also include two new major evolutions: media plan-as-a-service, and new media and format for ads.

A new era of monetizing qualitative audiences in a decentralized way will soon be a reality

Monetizing the audience is a huge challenge for all publishers and even more so for those related to blockchain and crypto. The current major players that offer such solutions are centralized and control the market entirely.

What does this mean for premium publishers?
- Strong dependency and uncertainty.
- No options for the display of their advertisement.
- High fees.
- No opportunity to participate in building the future of programmatic advertising.
- No optimization and no control over the revenues generated.
- Lack of transparency over real performance and risk of market manipulation by dominant players.
- Unfair withdrawal conditions (minimum withdrawal requirement and/or exploitative payment terms).
As a result, most leading publishers are turning to other ways to monetize and generate decent revenue, such as:
- Affiliate programs
- Use of multiple advertising networks
- One-to-one sales
A solution is definitely needed.

The future of programmatic ads is here and now

Founded in 2017, the Adshares blockchain project created its own blockchain, which handles 1.4 million transactions per second and is an advertising platform that provides alternatives for Google Ads, among others.
For two years now, a brand awareness decentralized ads network delivers dozens of campaigns on a daily basis. More than 600 publishers use the Adshares network to generate revenues, garnering approximately 200 million views per month.

Time to scale up

The first decentralized premium advertising network will be up and running in early August

Based on its existing disruptive technology, Adshares offers a unique opportunity for premium publishers to join this new ad network and break free from a real dystopian situation.

Adopting new technology, changing a business model, and collaborating with a new partner are often a source of anxiety and uncertainty.

For all these reasons, Adshares has decided to allocate a dedicated budget to the first 20 publishers who will join us and contribute to construct the future of decentralized advertising.

$120,000 will be allocated to the launch of this new premium ads network

As a result, premium publishers will not only be assured of a guaranteed revenue stream but can also take advantage of all the innovative features offered by Adshares: a monthly allocation (for 6 months), Adblock resistant technology, full control over campaigns displayed, hourly payments with no minimum payout, the lowest transaction fees in the advertising market, and an easy way to swap ADS, Adshares native cryptocurrency, on PancakeSwap or Uniswap.

Last but not least, they will also be able to propose other ad formats such as press releases, articles or newsletter placements as part of our new media plan-as-a-service offer.

Premium publishers can now submit an application to join this new dedicated ad network.

This new ad network is a game-changer for premium publishers and advertisers.

Advertisers will take advantage of this disruptive solution in the easiest way they could imagine: no more prohibitive commissions, having the possibility to use multiple ads classification providers, payments are completed after an ad is displayed, easier payment rates setting, lower risk and more confidence, conversion metrics measurement before payment commitment, extended ad format choices to perfectly suit their needs, and much more to come.

More details about the specific premium advertiser onboarding program will be provided in an upcoming announcement.

To summarize

Adshares, a brand new decentralized ads network dedicated to both premium publishers and premium advertisers, will launch in early August.
$120,000 will be allocated to engage premium publishers to join and co-create this innovative solution.
A $1,155,250 ADS marketing budget will also be dedicated to promoting this initiative on the premium network.

About Adshares

Adshares is the first 100% decentralized marketplace for programmatic advertising, as well as one of the most advanced blockchain-based projects in the advertising market.

Combined with some unique features, Adshares offers a very interesting set of advantages over mainstream and crypto ad networks, such as Google Ads, Coinzilla, Cointraffic, PropellerAds, Adsterra or Mellow Ads.

Learn more about Adshares here.
June 20, 2021
State Banks In Texas Will Be Allowed To Store Bitcoin For Their Clients

The Texas Department of Banking has announced a new update that would further push the adoption of cryptocurrency across the state. In the update, the department mentioned that state charter banks would henceforth help their clients store their cryptocurrency.

With this already looking like a big win for crypto enthusiasts and traders across the state, the department’s stance on crypto has remained unshaken despite the update. In its statement, the department mentioned that traders in digital assets had been offered protective services for their digital assets by the charter banks over a long time.

The department further mentioned that storing digital assets would be slightly different from how the banks keep physical cash. This new development would allow the banks to take over their client’s private keys or store their client’s digital assets in a wallet that they are in control of.

The department even went further to point out that banks are allowed to use external service providers with expertise in storing cryptocurrency.

The statement says that should any user request their assets; they should be provided to them immediately. State charters have a slight difference from their federal counterparts as they are allowed to pick who they offer their services to. However, Texas charters have provided services on par with national banks since 1999.

This means that the state charter in the state is allowed to provide the services that a national entity would provide, making the state an ideal place for investment. Texas also has the most concentration of banks across the United States, only coming second behind California in the list. Besides Texas, Wyoming is also in the race to attract crypto-friendly investment. Following the state’s deposition license, Kraken was awarded the license, and not long after, Avanti got its license as well.

June 19, 2021
Mark Cuban Suffers Loss In Defi “Rug Pull”

The DeFi market is a wild west where the unexpected can happen at any time. Holders of the TITAN token developed by the Iron Finance team learned this the hard way when its price abruptly fell to zero. While massive price crashes are nothing new in the sector, the event generated a lot of buzz because one of the people that was affected was billionaire investor Mark Cuban.

Mark Cuban announced investing in the project on June 13

According to the update, Mark Cuban’s wallet was one of those involved in the loss as the value of the coin fell flat to zero. After the price fell, the developers of the token, Iron Finance, announced that those who hold the token should liquidate their assets from their respective pools. Even though the protocol made this announcement in due time, it did not shed light on what exactly happened.

Before the “rug pull” happened, Mark Cuban was one of the entities providing liquidity of fellow decentralized finance protocol, QuickSwap. In a tweet dated June 13, the billionaire announced his involvement with the protocol. He mentioned that being involved in crypto-related businesses makes more sense than people think and that valuing tokens was easier than people portray it to be.

Iron Finance are the developers of two tokens, IRON and TITAN. IRON is a token that’s backed by two crypto assets – USDC and TITAN. In theory, holders of 1 IRON can exchange the token for $0.75 worth of USDC and $0.25 worth of TITAN.

According to Finance Geek on Twitter, the reason the price of the token dipped was that the number of people minting IRON was not high enough. This, in turn, hurt the number of TITAN token that was getting burnt.

And when the price of the asset started to undergo a bearish run, traders began to sell off their tokens instead of holding. Holders of IRON were given their rewards in TITAN tokens which the success of the move seeing the price of TITAN top well over $60. While the traders enjoyed the rewards for a short time, analysts have mentioned that the relationship between the two tokens was not balanced enough.

When asked if he thinks the recent slump is a rug pull, Cuban was quick to point out that he was hit just like everyone involved in the project. He mentioned that he had the chance to get out at a point even though the project’s TVL kept increasing before the price crash happened.

June 18, 2021