Browsing: Altcoins

Cosmos-based cross-chain interoperability protocol Axelar has announced that it will officially release its token AXL tomorrow. A total of 1 billion AXLs will be minted at genesis, of which the circulating supply on the first day of release is approximately 30 million.

Axelar had previously held an AXL community sale through CoinList in March this year, and there will be no new token sales or airdrops at this launch.

The cross-chain transaction protocol RAI Finance has transferred the team tokens to the relevant wallet address of RAI Finance DAO.

It is reported that the SOFIP-028 proposal has previously been passed, requiring RAI Finance core contributors to build a multi-signature wallet and transfer team tokens (SOFI) to the RAI Finance DAO.

Bastion, the lending protocol on Aurora, updated the oracle mechanism and added a reference to the time-weighted average price (TWAP) of tokens on the DEX protocol Trisolaris on Aurora. When the price differs by more than 15% from the oracle Flux feed price, the transaction price will be frozen until Back to normal. In addition, Bastion established the Bastion Dashboard for real-time monitoring of the oracle system.

The Move-to-Earn project Sweat Еconomy issued a document saying that the Sweat Foundation promises to use 50% of its profits to buy SWEAT from the secondary market. This SWEAT will be destroyed or distributed as pledge proceeds to reduce the number of tokens in circulation to enhance Token utility.

The income of the Sweat Foundation is mainly generated through user participation and transaction fees.

According to a joint report by Boston Consulting Group (BCG) and ADDX, asset tokenization will grow 50-fold by 2030, creating a $16.1 trillion business opportunity.

Globally, assets such as real estate, stocks, bonds and investment funds, and patents are expected to see tokenized asset growth, the report noted.

Between 2022 and 2030, this number is expected to grow 50-fold, from $310 billion to $16.1 trillion, with tokenized assets expected to account for 10% of global GDP.

Sumit Kumar, managing director and partner at Boston Consulting Group’s Southeast Asia firm, said: “The crypto winter has strained capital for the entire blockchain industry. Some Web3 companies will be negatively affected. However, those that can show inherent value, scalability And projects that enhance the potential of the traditional financial ecosystem can benefit in this new context.”

Adjusted stablecoin trading volume soared in August, with adjusted stablecoin on-chain volume up 32.9%, from $655.2 billion in August to an all-time high of $866.2 billion.

According to the report, the increase could be attributed to the U.S. Treasury Department’s sanctions on Tornado Cash.

After the sanctions, the velocity of the stablecoins DAI, USDC, and USDT increased while all other stablecoins decreased. Block Research again largely attributed this to the Tornado Cash sanctions.

Bone ShibaSwap (BONE) has been accelerating its growth. It has breached key resistance levels as it rose to a high of $2.10 after crypto trading platform BlueBit.io announced the listing of BONE on Aug. 29.

BONE is the governance token of the ShibaSwap ecosystem. It allows holders to vote on proposals, and their vote weight is proportional to the amount they hold.

Bone ShibaSwap (BONE) has been accelerating its growth since August 19.

It has breached key resistance levels as it rose to a high of $2.10 after crypto trading platform BlueBit.io announced the listing of BONE on Aug. 29.

BONE is the governance token of the ShibaSwap ecosystem. It allows holders to vote on proposals, and their vote weight is proportional to the amount they hold.

The MRV token rugpull has fallen by more than 92%, and the deployers have transferred 96 million MRV to the EOA associated with the marketing wallet.

BSC address: 0x706BABd2a336fD61653cF8D13DdEefF66CF624BF, please be vigilant.

Dogechain tweeted that after the launch of the DC token airdrop activity, the network load increased, and many users could not receive DC from the airdrop page. To this end, Dogechain announced the suspension of the airdrop claim process to solve the problem.

Dogechain stated that there is no risk of loss for users to claim, and the airdrop page will be restored soon. It is reported that the encrypted KOL ZachXBT said that a wallet address (0x7249a891) directly associated with the deployer received 20 billion DC airdrops and had been dumped on Uniswap.

According to official news, Sirius Finance, the Polkadot ecological stablecoin AMM protocol, initiated a vote in the community on the destruction of its token SRS, and each veSRS participating in the proposal voting can correspondingly destroy 3 SRS.

The destroyed SRS that participated in this vote was originally reserved for private and public offerings by the team, totaling 42,315,293.8, accounting for about 4.2% of the total SRS supply.

The public chain project Aptos announced the testnet 3 incentive standard. Users who meet the following conditions will be rewarded with 800 tokens: Complete all required goals on time. The node activity that meets the definition of the indicator push data is ≥ 95%. The on-chain reward obtained ≥ 80% of the maximum value. Successfully participate in all governance operations created by Aptos.

Additionally, Aptos will reward users of 200 tokens for running validator full nodes using the open REST API for load testing and doing everything.

Aptos said that participants in the US will not be able to access the rewards, which will be available and locked for at least one year after the successful launch of the mainnet.

Earlier news, Aptos Incentive Testnet 3 will be launched on August 30, and the test will end on September 9.

In response to the de-anchoring of HUSD, Huobi official responded to Golden Finance that it has noticed the liquidity problem of the stable currency HUSD. HUSD is a stable currency issued by Stable Universal Limited and based on the Ethereum network.

Huobi has always paid attention to the security of customers’ assets, and will work hard to negotiate a solution with the HUSD issuer to restore the stability of HUSD as soon as possible.

The total lock-up volume on Dogechain has exceeded $4.5 million and is currently $4,552,915, a 24-hour increase of 31.53%.

According to the official website, Dogechain aims to bring encrypted applications such as NFT, games and DeFi to the DOGE community, and will launch Token DC soon. Dogecoin officially stated that 1Dogecoin=1Dogecoin, there is only one Dogecoin blockchain, and it is not directly related to any Token. Beware of impostors.

According to official news, the cross-chain protocol Multichain announced that the integration of Step Network has supported FITFI and 7 other assets (BNB, BUSD, DAI, ETH, USDC, USDT, WBTC) in Step Network and including Ethereum, Binance Smart Chain Safe, fast and low-fee cross-chain transactions between the 7 blockchains.

Gabor Gurbacs, director of digital asset strategy at New York-based investment management firm VanEck, tweeted that about $1 billion has been transferred from USDC to USDT in the past month.

Market value data shows that the market value of USDC has evaporated by more than $1 billion in August, while the market value of USDT has grown significantly.

GaborGurbacs said, “I wouldn’t be surprised if institutions and large players feel it is safer to store their funds outside the U.S. following recent U.S. regulatory measures for crypto companies and tokens.”

Drake Evans, a member of the Frax Finance team of the hybrid algorithm stablecoin protocol, tweeted that Frax Finance will launch the lending platform Fraxlend, and the code has been released to Github.

Note: Fraxlend allows users to create an independent and permissionless lending marketplace using a pair of ERC-20 tokens, with Chainlink providing the exchange rate between the two assets.

Cryptocurrency exchange Kraken has announced the results of its second Proof of Reserves audit in 2022, which has now expanded to include assets such as BTC, ETH, USDT, USDC, XRP, ADA, and DOT.

Its audit scope adds five cryptocurrencies USDT, USDC, XRP, ADA and DOT, expanding the verification scope of Kraken customer balances to 63% of total assets held on Kraken (including spot exchanges and staking platforms).

The company said it plans to continue to include more assets in future proof-of-reserve audits.