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  • Ethereum Will Be 2,000 Times More Energy Efficient Thanks to Proof-of-Stake

    Ethereum Will Be 2,000 Times More Energy Efficient Thanks to Proof-of-Stake

    The Ethereum Foundation has recently published a blog post discussing the energy savings that the much-awaited transition to Proof-of-Stake will bring to the Ethereum network. Of course, Ethereum 2.0’s beacon chain is already live, providing valuable insight into how the Proof-of-Stake consensus mechanism compares to Proof-of-Work from an energy usage basis.

    With the switch to Proof-of-Stake, Ethereum will massively cut down on the amount of energy that’s currently being used by ETH miners.

    Ethereum Miners Use 5.13 Gigawatts Per year

    According to Digiconomist, Ethereum miners expend 44.49 TWh per year which means that they consume a total of 5.13 gigawatts on a continuous basis. When comparing this figure with the estimated power consumption of ETH stakers, researcher Carl Beekhuizen estimates that the new Proof-of-Stake system will be approximately 2,000 times more energy-efficient. This shows that about 99.95% of energy would be saved.

    Even though we don’t know for sure when Ethereum will make the switch from PoW to PoS In the last few weeks, Ethereum developers launched an experimental testnet for the transition, which is often called “The Merge”.

    In addition to adopting Proof-of-Stake, several scaling solutions that are being built for Ethereum will also contribute to the energy expended per transaction seeing a drastic reduction.

    Tesla stops accepting Bitcoin because of environmental concerns

    It is the same issue of energy expended that has pushed electric car making company Telsa to suspend the purchase of their vehicles with Bitcoin. According to a tweet by the CEO of Tesla, Elon Musk, he pointed out that the firm was greatly concerned with the use of fossil fuels for mining Bitcoin. He pointed out that even though Bitcoin and crypto are technologies with promising potential, they should not pose a great disadvantage to the environment and the world at large.

    Musk mentioned that the firm is not looking to sell their Bitcoin holdings but would be open to using it for transactions as soon as miners start using an environmentally friendly sources for their mining operations. Musk also mentioned that he would be working in collaboration with Dogecoin developers to ensure that the transaction efficiency of the network is greatly improved. In his final statement, Musk mentioned that he is a great believer in crypto and what they stand for but won’t encourage the massive use of fossil fuels for activities, emphasizing coal.

  • deFIRE Partners With Leading Data Aggregator Coin360

    deFIRE Partners With Leading Data Aggregator Coin360

    Zug, Switzerland, 20th May, 2021,

    Defi project deFIRE has announced a partnership with live market data aggregator Coin360. 

    deFIRE, a smart order routing engine powered by Changelly and built on Cardano, will tap into Coin360’s global audience while utilizing its low-latency data feed across multiple blockchain networks.

    By delivering distributed oracle infrastructure for Cardano, deFIRE will enhance the network’s expanding defi ecosystem and cater to institutional order flow originators and retail traders. 

    Thanks to the partnership with Coin360, defi users can operate safely in the knowledge that deFIRE is supplying trustless, reliable price feeds from DEXs and other relevant data feeds.

    Both projects intend to explore further collaboration and integration opportunities deemed mutually beneficial. Such integration is likely to include Coin360 providing optimal execution services to deFIRE users via APIs for the universe of Cardano-native tokens and beyond.

    Coin360 builds tools such as heat maps, liquidity books, widgets and charts intended to help novice and expert traders stay up to date on the crypto market’s movements. Its feature-rich API is also capable of supporting the demands of institutional investors who require access to advanced analytics and market data.

    With over 4.65 million visitors to its site, Coin360 ranks as one of the leading crypto data aggregators. Its active user base has seen Coin360 ranked in the top 16,000 websites globally.

    deFIRE recently raised over $5 million in a pre-IDO funding round, with investment coming from top-tier VC funds such as Morningstar, Cryptodromfund, and SwissBorg Ventures.

    About deFIRE

    deFIRE is currently pioneering something few of its industry rivals can hope to match: a low latency decentralized order router aimed at the rapidly expanding universe of Cardano Native Tokens. The platform is offering its facilities to the growing network of institutional order flow originators and retail traders. Execution-wise, deFIRE connects to the deepest pools of on-chain liquidity while also building one of its own.

    About Coin360

    Coin360 is a leading cryptocurrency market data provider founded in 2017. Known for its interactive infographic that provides an up-to-date snapshot of the digital asset market, Coin360 provides users with a compelling view of the current state of the industry in a visually pleasing format.

    Contacts
    • Maryam Mahjoub
    • deFIRE
    • contact@defire.fi
  • Bitcoin Leads Market Bearish Run As Crypto Exchanges Suffer Outages

    Bitcoin Leads Market Bearish Run As Crypto Exchanges Suffer Outages

    Yesterday marked an alarming turn in the cryptocurrency market as crashes in the Bitcoin and Ethereum markets led other top digital assets to sustain big losses as well. Presently, Bitcoin is trading at about $40,100 after a recovery from the massive decline seen yesterday, in which the price of the world’s top cryptocurrency fell to around $30,000. Ethereum, on its part, is performing worse than Bitcoin as at the filing of this report as the second digital asset according to market cap is seeing a 24-hour loss of around 3.7% and trading at $2,700.

    Total liquidation figure almost reaches $8 billion

    While it looks like the worst part of the crash is behind us, the price crash caught many leveraged traders on guard and resulted in a large number of liquidations. According to Bybt, over 690,000 traders were liquidated in the last 24 hours and the value of liquidated funds reached almost $8 billion in the same timeframe.

    The bearish sentiment that contributed to the recent plunge in the price of digital assets has been attributed to the comments made by Elon Musk, the CEO of electric car manufacturer Tesla.

    Over the weekend, Musk took to Twitter, where he released several tweets that questioned the energy use of Bitcoin. In an interview with The Block, a trading firm executive mentioned that the price swings were bound to happen since most traders were short gamma.

    He pointed out that the bearish sentiment is very high at the moment, and many traders are looking to cut their risk and take their cash when the price of the digital asset drops below $40,000. He also said that BTC sentiment wasn’t negatively impacted just by Elon Musk’s tweets, but also by U.S. regulator SEC’s hesitancy towards approving a Bitcoin ETF.

    Crypto exchanges witness outages

    In the midst of the extreme volatility in the market, several crypto exchanges suffered outages yesterday. The affected platforms were said to have had to deal with a massive influx in the number of traders.

    While the outages lasted, traders saw delays in their withdrawal requests as most of them were looking to escape the bloodbath that is currently decimating the crypto sector. A good example is Voyager Digital, which pointed out that applications were still in maintenance mode yesterday. In its tweet, Voyager said that most exchanges were having problems with connectivity.

    Along with Bitcoin, the majority top digital assets saw a massive bearish run which saw most of them post double-digit losses.

    The Ethereum blockchain also struggled under the load as users flocked to the platform in an effort to salvage the value of their holdings. The major reason for the congestion on the Ethereum network was associated with the activities of the decentralized finance traders, with most of them withdrawing their gains overtime or taking what is left of their investments in the assets. The congestion was accompanied by surging transaction costs, which meant that many users couldn’t afford to make transactions.

  • TRGC to unlock blockchain’s immense opportunities for global investors

    TRGC to unlock blockchain’s immense opportunities for global investors

    New York, United States, 20th May, 2021,

    After four years, the fund will open its doors to outside investors during this period of explosive growth in blockchain and DeFi

    The increasing acceptance of Bitcoin as an asset class during the past year has encouraged many of the world’s largest financial institutions and companies to pour in cryptocurrencies and blockchain technology investments. Even BNY Mellon, the oldest bank in the US, recently unveiled plans to provide an integrated service for digital assets, marking a notable change in the way that long-standing financial stalwart approaches the cryptocurrency space.

    A recent JP Morgan poll highlighted that 22% of the respondents said their respective organizations were likely to trade or to invest in cryptocurrencies, with family offices, private investment firms and high net worth individuals now seeking for opportunities in this rapidly evolving and highly lucrative landscape.

    TRGC will open its doors to outside investors for the first time, after 4 years of operating in a closed capacity. The digital asset fund will offer its investors a generational opportunity to participate in  the historical returns that can arise from supporting early stage blockchain projects. TRGC is focused on investing in high quality blockchain project founders and teams, utilising a deep knowledge of the blockchain investment landscape and extensive industry connections.

    Investing in tomorrow’s innovations

    BlackRock recently announced that they have “started to dabble” in Bitcoin, confirming that even the world’s largest investors see the promise that BTC holds as a store of value. But away from Bitcoin, the potentially once in a lifetime opportunities presented by investing in blockchain infrastructure and more recently DeFi (decentralized finance) protocols are also becoming too big to ignore; TRGC fosters these cutting-edge technologies at their point of inception to add exceptional value from the earliest stages of project development, supporting the growth and innovation of trailblazing Defi projects.

    “As we continue to witness an accelerated shift into the digital age, the world is starting to get a glimpse of the asymmetric opportunities that blockchain presents; with real use cases, blockchain is at the forefront of innovation” says Etiënne vantKruys, Managing Partner of TRGC. “Consider an emerging trend like DeFi, which has demonstrated beyond anyone’s expectations that financial transactions can be truly P2P and secure, removing the friction point and bias of the middlemen. Today, exceptional founders are laying the groundwork for future growth and maturity of the ecosystem.”

    Supporting pioneering and driven project teams for nearly half a decade, TRGC has consistently sourced and invested in the most promising projects that deliver. By applying  a backtested and research-driven investment process, combined with fungible go-to-market strategies, TRGC’s investment portfolio has seen a number of its  projects reach token market capitalisation of $1 billion or more. The fund was recently recognized in “The Cointelegraph Blockchain Venture Capital Report” as one of the blockchain industry’s most influential digital asset funds.

    Led by Managing Partner Etiënne vantKruys, the TRGC team is made up of seasoned professionals with deep rooted expertise in both the blockchain and traditional investment landscapes. 

    Unmatched conviction in supporting blockchain, DeFi and Web3’s best

    Supporting the blockchain and DeFi solutions of tomorrow is what will fuel the cambrian explosion of growth in the digital assets and emerging technologies space in coming years, and TRGC has invested in some of the most prominent projects to launch in recent years. Polkadot, an interoperable blockchain platform currently valued at over $36 billion, was one of several early stage investments made by TRGC,  as was the Andreesen Horowitz-backed open-source platform Avalanche. The fund has its focus set on the Web3 innovations and DeFi solutions that will become globally recognised names in coming years.

    With the next wave of  disruptive projects emerging, 2021 is already shaping up to be a  landmark year for blockchain technology. Despite the immense opportunity, however,  investing in early stage projects and startups remains quite risky, especially for those not seasoned in the blockchain space. TRGC expects to be a proven and effective vehicle  for those looking to invest in the future of decentralized technologies. By welcoming outside investors, TRGC, with its considerable experience and market insight,  offers family offices, high net worth individuals, and other global investors  an entry into the nascent but most promising investment market in cryptocurrencies and  blockchain technology. 

    Contacts
    • Etiënne vantKruys
    • hello@trgc.io
  • APENFT The NFT Token You Can’t Afford To Miss Out On

    APENFT The NFT Token You Can’t Afford To Miss Out On

    San Fracisco, California, 20th May, 2021,

    APENFT will be launching NFT, a native token on May 20th, it will be the first project to go live on the new and improved Huobi Prime. APENFT was born with the mission and purpose to register world-class artworks as non-fungible tokens (NFTs) on the blockchain. Its aim is to establish itself as the ARK Star Fund in the NFT world, building a bridge between renowned artists and the blockchain while nurturing the growth of native crypto artists in the NFT space. 

    The team behind the APENFT project is composed of experienced thought leaders from the blockchain, finance and art communities. It will be headed by Steve Liu, he has an extensive financial management background, working in Fidelity, Nomura and other top investment banks and institutions. Many of the core advisors of the project are from the traditional art world such as Christie’s and Sotheby’s and other well respected institutions. 

    APENFT’s objective is to transform art pieces, which once was an elite-exclusive item, to something that belongs to everyone. APENFT is backed by the underlying technology of top-notch blockchains Ethereum and TRON with support from the world’s largest distributed storage system Bittorrent File System (BTFS). APENFT and its token NFT run on the Ethereum and TRON public chain under the ERC721/TRC721 standard and are permanently stored in the decentralized storage system BTFS.

    NFT, a native token of APENFT, is proposed and governed by the community, and its features are governed by smart contracts, with all information accessible on-chain. Community members will discuss and expand the features of contracts which will be voted on through NFT and executed in accordance with the majority rule. NFT will in the future seek to expand its application in DeFi projects to boost connectivity by using smart contracts and the virtual machine on the TRON public chain. TRON currently has a total number of users exceeding 30 million, with more than 1.8 billion transactions, the world’s largest stablecoin circulation, and a rich and thriving blockchain business ecosystem.

    NFT, the digital asset of APENFT, is a TRC721-based token with a total supply of 999,990,000,000,000 and an initial issuing price of $0.00000012. Users can get NFT by participating in commenting, creating, recommending, displaying works in APENFT, providing industry information, policy analysis and other behaviors, or by participating in BTC, ETH, DOGE, TRX, BTT, JST, SUN, WIN liquidity airdrop and mining. 

    NFT Defi airdrop and mining will be completed in 23 months June 2021 to April 2023. The supply accounts for 19% of the total supply or 189,998,100,000,000 NFT. The Initial release will begin in June 2021, with a total supply of 19,999,800,000,000 NFT; A monthly supply of 7,916,587,500,000 NFT will be released between July 2021 and March 2023; The last release totaling 3,749,962,500,000 NFT will be made in April 2023.

    The roadmap is broken down into 4 phases:

    Phase 1: Build the infrastructure for the NFT ecosystem

    Powered by TRON, one of the world’s top three public chains, and BitTorrent, the world’s largest distributed digital storage system, APENFT  adopts a highly-integrated and heavily-invested infrastructure to drive the implementation of ERC721/TRC721 and its supporting facilities.

    Phase 2: Achieve a strong circulation of NFT

    APENFT  is issuing NFT, the project’s native token, on leading exchanges like Huobi to extend and share the benefits with more users. The also implements a democratic and diversified governance through votes and mining, etc. 

    Phase 3: Enrich the businesses of APENFT

    To push the boundaries of the NFT space, expand “friend circles” and enrich its business, the APENFT team will promote the creation and re-creation of top-class artworks and established franchise and custom NFT works with A-list celebrities with massive followings from the entertainment circles.  

    Phase 4: Secure the key to authorization and confirmation of the digital world

    In an effort to promote a wider implementation of blockchain technology, APENFT will, at this stage, build on top of its NFT business, secure the key to authorization and confirmation of the digital world, and make a foray into digital entertainment and brick-and-mortar NFT projects, etc.  

    About APENFT 

    APENFT was born with the mission to register world-class artworks as NFTs on 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

    Contacts
    • Anjali George
    • press@tron.network
  • Telos Blockchain: Why It Appears to be Undervalued

    Telos Blockchain: Why It Appears to be Undervalued

    In the blockchain space, we often hear about Ethereum, Polkadot, Tezos, ADA protocols. However, we have heard very little about a revolutionary and quite a disruptive blockchain network called Telos blockchain. Why does it appear that this blockchain network seems to be undervalued even though it has so much to offer?

    In this article, we have explored some of the reasons why Telos network appears to be undervalued. Before we go ahead, let us take a look at what Telos protocol is all about.

    What is Telos Blockchain? 

    Telos blockchain is a smart contract blockchain protocol that runs on EOSIO software. It is a mass adoption open finance network supported by a community of trailblazers. As a protocol built to enhance transaction speed and scalability, Telos seems suited for mainstream adoption.

    Telos supported tokens, NFTs, and smart contracts deployed on DeFi, social media, and gaming applications. Since its development in 2018, there are over 100 projects that are already building on the Telos blockchain protocol.

    The blockchain network is on course to combining two leading protocol technologies in the blockchain space. It seeks to become the first compatible blockchain protocol to have both solidity-based Ethereum Virtual Machine smart contract and eosio c++ smart contract. Such combination opens TELOS up to the largest community of developers on the internet.

    How come Telos has all these features, and yet the price is not up there among the best coins? This is certainly a million-dollar question, and we will do our best to make you understand the reason for such an outcome. Before we go down this lane, let us compare the Telos protocol with some of the notable blockchain networks.

    Why Telos Blockchain is Undervalued

    From the table of comparison above, it is obvious that the Telos network is miles ahead of other notable blockchains in many areas. There are very few blockchain networks that can match the capabilities of Telos in terms of speed and scalability. As at the time of this writing, the TLOS token is valued at $0.17, with a market cap of only 46 million compared to the tokens of other “lesser” blockchain networks which have market caps in the tens of billions.

    ETH, the native token of the Ethereum blockchain, hit an all-time high a few days ago, to put it in perspective. From our comparison table, it is clear that the Telos network is miles ahead of its Ethereum counterpart. The same also goes for Polkadot, whose native token (DOT) has hit double digits this year in the crypto market. It is only a matter of time before people come to see the value in Telos blockchain. Another major reason why Telos is greatly undervalued is the inability of the team to get it listed on major exchanges like Binance, Coinbase, etc. It is not enough to have an amazing project, you also need a professional PR team to market it for you.

    Key Advantages of Telos Network

    The network has some advantages peculiar to developers, holders, and block producers. Developers will enjoy proprietary dApps, lower cost of dApp development, enhanced security, etc. Token holders will enjoy higher equity per token, lower inflation, pre-activation resolution of lost tokens, etc. Block producers will enjoy an equitable payout model, regular for maintaining the node, equitable voting, etc.

    Closing Thoughts

    Although Telos blockchain is greatly undervalued, traders and investors should do due diligence before investing their money. The crypto market is so volatile, and that means it is also highly unpredictable.

  • Sweet Expands NFT Marketplace to Shopify Ecosystem

    Sweet Expands NFT Marketplace to Shopify Ecosystem

    Press Release: Sweet’s consumer-first enterprise NFT platform now allows brands to seamlessly offer NFTs through existing online store-fronts.

    New York, New York – May 18, 2021

    Sweet, the leading enterprise NFT solutions provider, announced the integration of its NFT distribution platform into the Shopify marketplace, empowering brands, shop owners, and IP holders to sell NFTs through existing online store-fronts. The addition of Sweet into the Shopify platform enables global retail and entertainment brands to capitalize on the growing demand for NFTs while keeping consumers in their own branded checkout experience.

    According to Tom Mizzone, CEO and founder of Sweet:

    “To date, NFTs have been primarily sold through third-party crypto marketplaces, forcing brands to make the hard choice of directing consumers to an off-brand experience. Additionally, broader consumer bases want to buy and own NFTs but are confused by complex and intimidating blockchain wallet setup, and don’t know how to get started. Now anyone can get into the NFT game through the familiar Shopify checkout experience, furthering Sweet’s commitment to brand partners by prioritizing the consumer experience.”

    Sweet’s scalable NFT platform is democratizing NFTs and creating broader ways for retail and consumer brands to offer digital collectibles to their users. The ability to sell and distribute through Shopify’s e-commerce platform not only enables direct NFT sales but also enables gamified, bundled, “gift with purchase” NFT experiences with physical merchandise.

    “Imagine randomizing and bundling digital assets with t-shirts, vinyl albums, sneaker drops, and more,” said Ken Ellis, CTO of Sweet.

    Ellis continued, “Now imagine gamifying the merch store by hiding Willy-Wonka style golden ticket NFTs in the bundles, surprising and delighting consumers with one-of-a-kind experiences. Not only can brands use Sweet’s technology to create engaging consumer experiences, drive sales, and drive profit margins, but the NFT can serve as a cryptographically secure digital certificate of authenticity. The NFTs are publicly verifiable and can’t be counterfeited, and packaging them with physical goods also ensures the authenticity of those goods.”

    Sweet’s blockchain-agnostic, eco-friendly NFT solution is bringing digital collectibles to the masses by offering retailers flexible distribution options and the ability to mint cost-effective branded NFTs across multiple blockchains. Sweet’s magic is in making these unique digital assets easy for consumers to acquire and receive with no crypto knowledge or expertise needed.

    The integration of Sweet’s NFT platform into the Shopify marketplace means that retail brands of all shapes and sizes can now offer NFTs to their consumers in use-cases that are specific and unique to their brand’s aesthetic and personality. According to CNBC, NFT sales in the first quarter of 2021 eclipsed $2 billion. Brands leveraging Sweet’s consumer-first solution are poised to capture a large percentage of sales as NFTs extend into the lives of everyday consumers.

    About Sweet

    Sweet is the broad-scale enterprise NFT solution taking a user-friendly, consumer-first, eco-conscious approach to digital collectibles. Sweet’s blockchain agnostic platform leverages multiple chains, each for the right use-case, allowing Sweet’s enterprise clients to create holistic, long-term NFT strategies that attract both high-end crypto enthusiasts as well as everyday loyal fans.

    Media Contact Details

    Name: Peter Keiser,
    Role: EVP of Marketing, Sweet
    Location: New York, NY
    Phone: (201) 775-9000
    Email: press@sweet.io

    Sweet is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest.

  • Angelo Galasso and Doc Lee Create First NFT Collection Linked to Exclusive Fashion Items

    Angelo Galasso and Doc Lee Create First NFT Collection Linked to Exclusive Fashion Items

    Milan, Italy, 19th May, 2021,

    Luxury fashion brand Angelo Galasso is releasing its first collection of nonfungible tokens (NFT), which are designed to be sold alongside and reinforce the exclusivity of its handmade items by binding the digital and physical into a single bundle.

    Through a collaboration with acclaimed digital artist Doc Lee from altered.tv, who has previously worked with brands such as Jaguar, Disney, Cartier and others, Angelo Galasso is creating the first physical and digital NFT fashion collection.

    The Genesis collection will be released on OpenSea, with a total of 24 NFT items. Each NFT represents a unique digital art piece designed by Doc Lee, which are sold in addition with high quality items specifically designed by Angelo Galasso for the collection. These will include the AG City Backpack, made from personalized grain reinforced canvas and printed with a geometric motif showing Angelo Galasso’s iconic AG Dragon Logo. The key element of the backpack and other fashion items in the collection is a finely engraved egg button detail, which mirrors the NFT art associated with the items.

    Other items include a finely designed crypto credit card wallet and a key or hardware wallet ring, both including the iconic egg button detail. There will be only five NFTs paired to the backpack, seven paired to the credit card wallet and 12 paired with the key ring.

    The owner of the NFT is the sole registered owner of the associated physical item, creating additional value for the owner and a unique physical and digital twin.

    The Genesis collection is being auctioned on OpenSea, with items expected to sell out quickly. . Winners of the auction will obtain the NFT and associated digital art, and will be able to request the delivery of the physical item to any location around the world, free of charge. Alternatively, the items can be collected  in person at the Angelo Galasso store, Knightsbridge in London. Angelo Galasso will also refund the gas costs for the purchase of the NFT for in person collections.

    “We have always been regarded as pioneers in the fashion industry and with this launch we are exploring how new technologies such as blockchain and NFT’s can help the fashion industry reduce counterfeiting and give customers an even better brand experience,” says the Brand.

    “I was very excited to be approached by Angelo Galasso to work on this innovative project,” said Lee Robinson, pseudonym Dr Lee, digital artist and creative director of Altered.tv. “The idea of creating an original piece of art in conjunction with an original item of luxury fashion is a unique and paradigm shifting concept. The digital art piece links the digital and the physical worlds, elements of the animation are reflected in Angelo’s designs and vice versa. This is a unique opportunity for anyone interested in NFTs art and fashion.”

    A portion of the NFT sale proceeds will be devoted to an environmental charity, helping offset some of the carbon footprint associated with the NFT as the blockchain industry works for an improved platform.

    The collection has been produced in conjunction with the EdenBase Innovation team, a generation 2.0 ecosystem specialising in enabling industries with frontier technologies.

    About Angelo Galasso

    Angelo Galasso was born in the South of Italy with design and a strong flair for tailoring in his blood. His first business endeavour was a shirt company Interno 8 founded in 1990, a brand 

    Angelo founded his eponymous brand in 2009, after having founded Billionaire Couture, a 

    His tremendous flair and talent for design led him to create the iconic “Polso Orologio” shirt, inspired by Gianni Agnelli, a product so innovative and groundbreaking in terms of design, that it was exhibited at the Design Museum in London, and the Financial Times dubbed Angelo the “Da Vinci of shirts.”

    Contacts
    • Giuseppe Galasso
    • gg@angelogalasso.com
  • QiSwap DEX Announces 2nd QI Token Airdrop to Fuel Ecosystem Growth

    QiSwap DEX Announces 2nd QI Token Airdrop to Fuel Ecosystem Growth

    Seoul, South Korea, 18th May, 2021,

    QiSwap, the leading decentralized exchange (DEX) that utilizes automated market making algorithms, is preparing to launch the second airdrop of its native token. All of the QI tokens will be distributed directly to the community members and other stakeholders that contribute to the QiSwap network.

    Since we want to incentivize organic growth of the ecosystem by conducting the fairest possible distribution, we advise the community to keep their Qi tokens in the official QiSwap web wallet, or the Qtum QT Core official wallet.

    The QiSwap team is working to get the QiSwap airdrop supported by a number of exchanges. But if your Qi tokens are held on an exchange that has not yet confirmed its support for this airdrop, you should withdraw them to the QiSwap web wallet or the Qtum QT Core with QRC20 support.

    The Qi airdrop will go to all token holders at a 1:1 ratio, meaning that for every 1 Qi you possess you will receive an equal amount of Qi token.

    All users who wish to participate in the airdrop will need to hold their Qi tokens during the snapshot time in a QRC-20 wallet or in an exchange supporting the event. The snapshot will be taken on around May 30, 12 am KST at Qtum block height #924,270.

    Exact time will be announced through our social channels, and it is the Qtum block height that matters. You can watch the progress on the block explorer while the airdrop is deploying.

    Remember, if you don’t control the private keys to your Qtum wallet, you mayn’t receive your airdrop tokens.

    The airdrop distribution will revolve around a wallet snapshot taking place on the aforementioned calendar dates, determining the amount of tokens every user will receive. However, please note that it may take a few hours as the airdrop script takes a while to execute.

    Note: since there will be a small gas fee involved in the contract call when claiming Qi, make sure to have Qtum in the wallet to pay for the gas. The gas fees shouldn’t be more than a couple of pennies and we recommend sending 0.1 Qtum for gas, then send your Qi tokens.

    Liquidity providers also qualify for the airdrop to directly benefit from platform adoption and growth. This token release will establish an innovative new way for those who fund the Qtum/Qi “Qtum Beets” Nitro Pool.

    Specifically, they will be eligible to share in the staked rewards that are created from the 1 million Qtum allocated to the QiSwap team for 1 year. This is partly to show appreciation for their hard work and also to ensure the growth and sustainability of the QiSwap ecosystem in a win-win kind of fashion.

    Using QI, token holders will be able to vote and contribute to platform governance, a vital aspect of maintaining a decentralized application. The native token of the DEX will have large portions of its total supply distributed through multiple airdrops taking place in order to get QI into the hands of platform users.

    To speak with the QiSwap community, please join our Telegram channel:

    http://t.me/qiswapofficial

    To see the current Qtum block height, please visit the block explorer here:

    https://qtum.info/

    QiSwap on CoinCheckup:

    https://coincheckup.com/coins/qiswap

    About QiSwap

    Qiswap is a fully decentralized protocol that automatically provides liquidity for QTUM based on automated market-making (AMM) algorithms. QiSwap is a transparent, censorship-resistant financial infrastructure for QTUM. It is essentially a set of smart contracts that exist as automated market makers in the crypto economy. These contracts are based on Uniswap.

     

    Contacts

    COO

    • Carl Carcia
    • carl@qiswap.com