AI solution gmAI, developed for the Solana ecosystem, announced the integration of the Allora network‘s forecasting model as a key plug-in for GM-featured stores. This integration allows decentralized applications (dApps) to effortlessly connect with the gmAI software development kit (SDK) and utilize the forecasting indicators for future applications.

The Allora Network is an advanced protocol that leverages decentralized AI and machine learning (ML) to generate and deploy predictions within its ecosystem. It provides a structured mechanism for users to access predictions from ML models on-chain and compensates the operators of AI or ML nodes that produce these forecasts. The network bridges the information gap between data owners, data processors, AI or ML predictors, market analysts, and end-users, helping to enable the practical application of these insights.

.@AlloraNetwork @gm_dot_aihttps://t.co/ard5gukMTL is excited to integrate the forecasting model from the Allora network, making it a flagship plug-in for GM-featured stores.

Dapps can seamlessly integrate with the https://t.co/ard5gukMTL SDK to utilize the forecasting… pic.twitter.com/2WQX6zsWG3

— gm.ai (@gm_dot_ai) August 6, 2024

GmAI Utilizes AI Models To Offer Builders API And SDK For Integrating AI Into Their DApps

GmAI aims to enhance dApps by enabling a range of functionalities, encompassing executing on-chain transactions, providing insights, and managing complex actions such as yield farming. The goal is to make dApps more accessible and user-friendly.

Furthermore, it leverages pre-trained AI models that continuously process real-time data streams to provide developers with strong APIs and SDKs for easy integration of AI features into their dApps. The platform is structured around three main components—Data, Decentralized Computing, and dApps for AI—each contributing to its overall functionality.

With its extensive knowledge of the Solana ecosystem and thorough understanding of publicly available source codes, gmAI is capable of addressing complex and detailed questions related to Solana, including those about memecoins. It can also execute on-chain swaps based on user commands in a fully trustless and non-custodial manner, as well as carry out a series of on-chain transactions according to predefined objectives.

Recently, the project announced that its GM token will be launched on the Solana blockchain on August 14th. An airdrop for pre-sale participants is scheduled to begin approximately 24 hours before trading starts. The list of centralized and decentralized exchanges, along with launchpads that will list the token, will be gradually revealed in the coming days.

The post GmAI Integrates Allora’s Forecasting Model To Enhance DApps With Advanced Indicators appeared first on Metaverse Post.

Singapore-based cryptocurrency trading firm QCP Capital released its latest market analysis, noting that overnight, the United States provided crucial support and liquidity to the anxious market. This support was especially noticeable in the cryptocurrency sector, with strong spot buying observed on cryptocurrency exchange Coinbase order books.​​

Furthermore, by the end of the United States trading session, Bitcoin had recovered to $56,000 and ETH to $2,500. Simultaneously, the macro market saw a strong rebound, with the Japanese stock market rising 9% today after a 12% drop yesterday. United States futures also indicated a potential rebound following ISM data showing expansion in the service sector in July.

The company noted that it is still too early to determine if the market has stabilized. Although the VIX index has decreased from its peak of over 65 yesterday, it remains above 30. Additionally, asset prices are expected to remain volatile, and market conditions will be turbulent until the Federal Reserve and the Bank of Japan provide further clarity on their policies. The Deputy Governor of the Bank of Japan is anticipated to make a key announcement this Wednesday, while the Federal Reserve will hold the Jackson Hole meeting from August 22nd to 24th.

QCP views the rumors of an emergency rate cut as unlikely, arguing that such a move could damage the Federal Reserve’s credibility, heighten market panic, and lead people to believe that a recession is imminent.

The company also pointed out that yesterday’s risk-off trend led to a considerable reduction in leverage. With prices falling sharply, it suggests that this might be an opportune time to consider accumulating BTC and ETH spot positions.

Bitcoin Rebounds To Trade Near $55,000 Mark, ETH Surpasses $2,400  

As of the current writing, Bitcoin is trading at $54,975, reflecting an increase over the past 24 hours. Its 24-hour low and high are recorded at $49,751 and $56,245, respectively. Additionally, Bitcoin’s dominance has decreased by 0.28% over the past day to 55.78%, suggesting that altcoins have performed better today.

At present, the price of Ethereum is $2,438, marking an increase of over 7.70% in the past 24 hours. The 24-hour low and high for ETH are recorded at $2,190 and $2,546, respectively.

The overall cryptocurrency market capitalization has increased by 9.09% to $1.95 trillion today. Additionally, the total cryptocurrency market volume has decreased by 29.01% over the past 24 hours, amounting to $147.18 billion, according to CoinMarketCap data.

The post Crypto Market Volatility To Persist Until Federal Reserve And Bank Of Japan Clarify Their Policies, Warns QCP Capital appeared first on Metaverse Post.

Yield aggregator NX Finance, operating on the Solana blockchain, announced that it has achieved a milestone of $10 million in total value locked (TVL). This achievement was reached along with its integration protocols. In particular, NX Finance has partnered with several cryptocurrency exchanges, such as Jupiter and Backpack, and forged collaborations with Mad Lads, The Vault, Pyth Network, and Switchboard.

The platform also plans to launch a leveraged Gold Mining Strategy (GMS) soon, with more details to be released in the coming week along with introducing a new campaign and the Xcellerator boost.

GMS provides an opportunity for borrowers and lenders to increase their profits through point farming pools. Lenders will earn considerable interest, while borrowers will receive all the points, meeting the high demand in the pre-market and benefiting both parties.

The Xcellerators are point boosters that allow users to increase their points. Currently, NX Finance offers users a 5% boost for one month, along with a customized avatar. Additionally, there is a 20% boost available to POAP holders for one week, available starting this week.

We made it Fam! It's 10M milestone!
​
But we are still early.
​
Don't forget about our ultimate DREAM – becoming the yield layer in Solana, achieving everything leverage within the ecosystem.
​
SPOILER ALERT
– More details about Gold Mining Strategy (GMS) will be released in… pic.twitter.com/4G5YzEtD51

— NX Finance (@NX_Finance) August 2, 2024

NX Finance Launches Point Adventure Campaign, Enabling Participants To Earn Vault Points

NX Finance represents a yield layer on the Solana blockchain, offering yield leveraging and point farming strategies. It helps individuals optimize their returns based on specific financial goals, providing user-centric financial solutions. These services are tailored to accommodate various risk preferences and investment objectives, allowing users to improve their returns.

Furthermore, it offers up to 10x yield leveraging on premium interest-bearing assets and up to 10x point leveraging for airdrop farmers. Lenders can deposit SOL or USDC without the need for active management and receive additional yield with their principal protected.

The project initiated the Point Adventure campaign in June, and it is currently ongoing. This campaign enables participants to earn vault points by utilizing any product on the NX Finance platform. Additional points can be earned through the referral system, teamwork, and other activities.

The post NX Finance Surpasses $10M In TVL, Unveiling Plans To Launch Gold Mining Strategy appeared first on Metaverse Post.

Decentralized administrative system Dmail Network (DMAIL) announced the launch of its staking platform. As part of the release, Skale Network, the first partner to join the staking ecosystem, has contributed 500,000 SKL tokens as rewards for stakers. Users who stake DMAIL tokens now will be able to earn SKL tokens and gain airdrops in future seasons. Furthermore, users staking DMAIL are now eligible for airdrops from partner projects.

Skale Network is a decentralized blockchain network compatible with Ethereum and designed for decentralized applications (dApps). It offers zero gas fees, instant finality, and modularity, enabling developers to build and operate high-performance blockchains customized to their specific requirements.

Dmail Network introduced a staking feature as part of its product offering to encourage community engagement and user activities in June. This feature allows users who stake DMAIL to earn Dmail Points and secure airdrops from reputable and rapidly developing projects within the ecosystem, encompassing SPACE ID, CyberConnect, Analog, Boba Network, SKALE Labs, Maverick, and Questflow Labs, among others. Additionally, stakers may have the opportunity to receive DMAIL airdrops in future seasons.

Dmail Network Partners With SKALE Network To Advance Its Capabilities 

It represents a decentralized communication system aimed at connecting traditional email services with Web3 technologies. It allows for secure and anonymous messaging via blockchain, focusing on improving interactions between users and developers by using wallet addresses for communication. This platform supports information exchange within the cryptocurrency and blockchain sectors, ensuring data ownership and enabling users to benefit financially.

With more than 14 million registered users and 1.5 million active monthly users, the community has created over 3 million non-fungible token (NFT) domains, which will soon be available for trading on the Dmail marketplace.

Dmail Network integrated with Skale Network in March. By leveraging Skale Network’s onboarding process, eliminating gas fees, and ensuring compatibility with AI technologies, Dmail Network is advancing its Web3 messaging platform.

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IoTeX, a blockchain platform that focuses on DePIN and the Internet of Things, has released IoTeX 2.0, its most recent version. With this update, the Layer 1 blockchain that was initially intended for DePIN apps has undergone major changes into a comprehensive, modular system.

With the new system, DePIN builders’ needs will be met, and the adoption of decentralized technologies in the real world will be sped up.

The Transition to a Modular Infrastructure

IoTeX 2.0 goes away from monolithic structures by introducing a modular approach to DePIN evolution. This change is intended to improve the usability, economy, and accessibility of developing DePIN applications. When developers can choose and incorporate particular components that best fit their project demands, the modular architecture lowers the complexity and resource requirements associated with bringing DePIN solutions to market.

Key Components of IoTeX 2.0

The IoTeX 2.0 consists of several essential elements that come together to form a strong ecosystem for DePIN development:

The DePIN tech stack is covered in these modules in a number of ways, from off-chain processing and storage to hardware abstraction and connectivity. The IoTeX core team develops some DIMs internally, while partners and builders who stake IOTX tokens to be part of the ecosystem create other DIMs.

With the help of IOTX and other mainstream assets, the MSP acts as a single trust layer for the whole network. It serves as a dApp and DIM security anchor for activity. DIM providers can become members of the MSP, and their states will be periodically anchored to the IoTeX L1 blockchain.

The focus of IoTeX 2.0 is on freely accessible open-source resources for integration and use. These comprise developer tools like integrated development environments, network-wide resources for funding and governance, and user-facing tools like the DePINscan explorer and ioPay DePIN wallet.

With the introduction of new utilities, the platform expands the use of the IOTX token across multiple DIMs, including W3bstream, ioID, and ioDDK. By distributing rewards according to the value that various stakeholders contribute, this strategy seeks to establish IOTX as the primary currency for the DePIN industry.

The uppermost tier of the technology stack facilitates a network of DePIN applications and Layer 2 solutions that utilize diverse DIMs. Many different verticals’ worth of DePIN use cases can be supported by this infrastructure.

The DePIN Tech Stack and Modular Approach

To connect physical devices to blockchain networks, DePIN projects usually need a sophisticated tech stack. For many teams, this intricacy can be a major barrier to entry. In order to meet this challenge, IoTeX 2.0 provides a modular infrastructure that enables projects to choose and construct the necessary components from a variety of pre-built modules.

This modular strategy seeks to democratize DePIN development by increasing its usability for small groups, lone inventors, and well-established businesses. Through the reduction of technical obstacles and resource needs, IoTeX 2.0 aims to promote a more inventive and varied DePIN platform.

Tokenomics and Economic Model

IoTeX 2.0 announce several changes to its tokenomics model to support the expanded role of the IOTX token within the ecosystem:

Inflationary Rewards for Staking

IoTeX 2.0 uses inflationary rewards to maintain competitive staking returns and promote network participation. This strategy seeks to give stakeholders steady incentives, much like other significant blockchain networks.

Mechanisms of Deflation

Deflationary burning mechanisms are incorporated into IoTeX 2.0 to counteract the inflationary pressure. These consist of burning IOTX for new on-chain identities, burning gas fees, and recurring burns that depend on the uptake of modular products like W3bstream.

Enhanced Functionality

These days, the IOTX token is used in the ecosystem for a variety of purposes. It powers transactions, acts as a staking asset for network security, and allows users to join the Modular Security Pool.

Management and Involvement in the Community

Staking in IoTeX 2.0 gives users voting power in the network’s governance in addition to rewards. This model gives the community the ability to propose projects, weigh in on important choices, and determine the platform’s future course. The Marshall DAO, which enables token holders to suggest and decide on funding for DePIN projects and initiatives within the IoTeX ecosystem, further strengthens community-driven growth.

IoTeX 2.0 has many potential benefits, but it could also have drawbacks. The new model’s success is contingent upon broad adoption and engaged community involvement. The allure of staking rewards and the IOTX token’s overall value proposition may be impacted by the erratic nature of cryptocurrency markets. In addition, IoTeX needs to keep coming up with new ideas all the time to stay ahead of the competition given how quickly the blockchain market is developing.

Long-term success will depend heavily on overcoming technical obstacles like guaranteeing scalability and keeping a user-friendly experience as the network expands. Furthermore, changes in regulations in different jurisdictions may have an effect on how blockchain networks, such as IoTeX, function and expand.

Future Outlook for the IoTeX

Within the upcoming several years, IoTeX 2.0 plans to welcome 100 million new users and unlock trillions of dollars worth of real-world value on the blockchain. These are lofty ambitions for the future. The platform’s emphasis on accessibility and modularity makes it a possible catalyst for the broad adoption of DePIN.

IoTeX 2.0 aims to facilitate the development of DePINs and open up new application possibilities that connect the digital and physical realms. The platform’s capacity to draw developers, encourage creativity, and produce real value for users across a range of industries and use cases will determine whether this vision is successful.

The post Tokenizing the Physical World: IoTeX 2.0’s Innovative Strategy to Unlock Trillions in Real-World Value appeared first on Metaverse Post.

Decentralized exchange (DEX) aggregator Jupiter (JUP) announced an increase in its default gas and slippage settings for the time being. This adjustment is intended to help users complete their transactions more smoothly.

Usually, these settings are kept conservative to help individuals save money during stable periods. However, during the current volatile conditions, they seem to be too low, leading to issues for users. Additionally, in a social media announcement on platform X, Jupiter expressed regret and stated that its team intends to further review and change the settings as needed.

Our default gas and slippage settings are conservative to help save users money during regular times.

However, these are too low during volatile periods, causing some users to encounter issues.

We are very apologetic for this, and have adjusted these upwards for the time being…

— Jupiter (@JupiterExchange) August 5, 2024

Slippage constitutes a difference between the anticipated trade price and the actual price recorded when the trade is executed. It can happen at any time but is more common in periods of high volatility, especially with market orders. Slippage can also occur if a large order is placed and there isn’t sufficient volume at the selected price to sustain the bid and ask spread. Meanwhile, gas refers to the fee that users of specific blockchain protocols pay to network validators whenever they perform a function on the blockchain.

The DEX aggregator’s undertaken measures represent a response to the recent decline in the broader markets, which has raised severe concerns among market participants.

What Is Jupiter? A Solana-Based DEX Aggregator

Jupiter provides multiple services, encompassing a Swaps tool, a Payments Application Programming Interface (API) for setting output token amounts, Limit Orders, as well as Dollar-Cost Averaging (DCA) options. The platform’s native token, JUP allows community members to participate in the approval, sanctioning, as well as voting processes related to all aspects of Jupiter’s operations.

Recently, the platform announced that its community has voted in favor of a suggestion to decrease the JUP supply by 30%, receiving a 95% greenlight rate. As a result, the total supply of JUP tokens will be lowered from ten to seven billion.

The post Jupiter Temporarily Raises Default Gas And Slippage To Address Market Volatility appeared first on Metaverse Post.

Cryptocurrency exchange HTX announced a new campaign for users, which will allow them to deposit funds and potentially win up to 10,000 USDT, with a total prize pool of 1 million USDT available for new users. This campaign is designed to provide newcomers with the chance to begin trading under challenging market conditions, while offering substantial rewards.

The newly registered users on the exchange can make deposits and begin trading to earn up to 104 USDT. They can also deposit into their Futures accounts to qualify for up to 10,000 USDT in futures trial bonuses, a Prime 10 Trial Membership, and exclusive one-on-one service for life. 

The campaign has already started and will continue until 07:00 UTC on August 16th.

Campaign Features Three Activities For New Users With Rewards For Engagement

It includes several activities for participants. The initial activity provides benefits for new users who make their first deposit of 100 USDT or more, giving them a chance to earn a 2 USDT futures trial bonus. Additionally, users who complete their first trade can receive up to 100 USDT, and those who trade with USDT-M futures have the opportunity to receive a 2 USDT futures trial bonus.

In the second activity, users can win up to 3,000 USDT through the Futures Deposit Promotion. This event encourages users to transfer funds to their USDT-M futures account, with the chance to earn trial bonuses and receive additional exclusive services upon reaching certain deposit thresholds. The total prize pool for this promotion is 1 million USDT.

Furthermore, users can benefit from a 48-hour promotion for BTC and ETH spot trading. New users who trade BTC-USDT or ETH-USDT in the spot market between 04:00 UTC on August 6th and 07:00 UTC on August 8th are eligible to receive a 5 USDT cash reward.

HTX functions as a comprehensive ecosystem providing a range of blockchain-related services, including digital asset trading, financial derivatives, wallet services, research, investments, and incubation. The platform supports over 700 virtual assets, manages a daily trading volume of more than $4 billion, and serves over 45 million registered users.

The post Crypto Exchange HTX Launches Trading Campaign With Up To 10,000 USDT And $1M Prize Pool For New Users appeared first on Metaverse Post.

Chief Legal Officer at Coinbase, Paul Grewal, issued a statement addressing the recent complaint filed by the consumer advocacy group Public Citizen. Paul Grewal clarified that the seized cryptocurrency assets are not funds appropriated by Congress and noted that there is no minimum threshold required to file such a complaint. He suggested that the complaint essentially functions as a press release under a different name.

Paul Grewal highlighted that the company collaborates closely with federal law enforcement and is committed to fulfilling the United States Marshals Service’s cryptocurrency service needs. He also noted that this initiative is funded through the sale of assets forfeited to the Department of Justice’s Assets Forfeiture Fund rather than through taxpayer dollars taken by Congress.

Additionally, the company has made equal donations to Democratic and Republican super PACs, contributing $500,000 to both House and Senate funds to both parties for this year. White and Public Citizen seem to be attempting to report a political bias, although, he notes, there is no bias. The Chief Legal Officer concluded by stating that the perspective presented by these researchers in the document does not reflect the current legal standards.

Seized crypto assets are not Congressionally appropriated funds, period. There is nothing new in the FEC complaint filed by a self-described crypto critic and Public Citizen’s research director, but it is notable that there is no minimum bar to file such a complaint, and this one…

— paulgrewal.eth (@iampaulgrewal) August 5, 2024

Public Citizen Files Complaint Against Coinbase With The Federal Election Commission

Last week, consumer advocacy group Public Citizen and writer Molly White filed a complaint with the Federal Elections Commission, alleging that Coinbase violated campaign finance laws. The complaint claims that the firm donated $25 million to the pro-cryptocurrency group Fairshake Super PAC while simultaneously negotiating government contracts with the United States Department of Justice (DOJ). It suggests that these actions were in breach of campaign finance regulations. This summer, the United States Marshals Service, a division of the DOJ, announced a $32.5 million contract with Coinbase Prime for custody services.

In 2010, the United States Supreme Court decided in Citizens United versus the Federal Election Commission that corporations and other external organizations are permitted to spend unlimited amounts of money on elections.

In their complaint filed on August 1st, White and Claypool contend that Coinbase qualifies as a federal contractor due to its current contract with the United States Marshals Service (USMS), a federal agency within the DOJ. The document asserts that the Federal Election Campaign Act restricts federal contractors from contributing, either directly or indirectly, to any political committee, party, or candidate.

The post Coinbase’s Chief Legal Officer Responds To Campaign Finance Violation Allegations appeared first on Metaverse Post.

With the price of Bitcoin falling below the mentally important $50,000 barrier, the cryptocurrency market is at a turning point. This recent decline is not merely a passing trend; rather, it is the result of a number of intricate factors coming together to transform the cryptocurrency market and how it interacts with traditional finance.

Photo: CoinGecko

The recent market correction highlights how developed the cryptocurrency ecosystem is becoming. Cryptocurrencies are no longer a niche market; instead, they are becoming more and more interconnected with geopolitical developments, monetary policies, and global economic trends. This integration presents challenges as well as opportunities. 

On the one hand, it represents the adoption of crypto assets by the general public, which could lead to a rise in adoption and institutional participation. Conversely, it leaves the market open to more regulatory scrutiny and wider economic vulnerabilities.

The Bitcoin Solution: Trump’s Vision for America’s Financial Future

The proposal from the former president is indicative of the growing interest political figures have shown in cryptocurrencies. Trump, who had previously voiced doubts about Bitcoin, has since modified his opinion and will even be speaking at the Nashville-based Bitcoin 2024 conference. He promised, if re-elected, to turn the US into the global Bitcoin superpower and the capital of the cryptocurrency industry.

As part of his plan, Trump intends to create the first strategic Bitcoin stockpile in the country, using roughly 210,000 Bitcoins worth roughly $13 billion that the federal government has legally seized. With this action, the US government would rank among the world’s biggest Bitcoin holders.

BREAKING: DONALD TRUMP PLEDGES TO NEVER SELL #BITCOIN AND HOLD IT AS A STRATEGIC RESERVE ASSET IF ELECTED PRESIDENT pic.twitter.com/bbPRxlZfGZ

— Bitcoin Magazine (@BitcoinMagazine) July 27, 2024

Trump is not the first to propose using Bitcoin to address the nation’s debt. Robert F. Kennedy Jr., an independent candidate for president, has also proposed creating a Bitcoin reserve to aid in debt management. Going one step further, Wyoming senator Cynthia Lummis has introduced legislation to establish a strategic Bitcoin reserve in the US.

NEW: US Senator Cynthia Lummis Strategic Bitcoin Reserve bill will see the US accumulate 1 million Bitcoin if enacted into law

"This Bitcoin is going to be transformative for this country" pic.twitter.com/XUwpub6OIc

— Bitcoin Magazine (@BitcoinMagazine) July 31, 2024

This strategy’s proponents contend that Bitcoin’s limited supply and growth potential could act as a hedge against inflation and the depreciation of the US dollar. They argue that if Bitcoin’s value rises over time, it might provide a means of offsetting the national debt without the need for massive tax increases or money printing.

Challenges and Criticisms: The Potential Pitfalls of a Bitcoin-Based Solution

Critics point out that there could be dangers associated with linking the nation’s finances to a relatively new and erratic asset class, in addition to the volatility of the cryptocurrency markets. They contend that doing so might put the nation at serious risk of financial instability and jeopardize the US dollar’s standing as the world’s reserve currency.

The proposal also calls into question the US government’s cryptocurrency regulations. Trump has promised to establish a board that is supportive of cryptocurrencies, create rules for the sector, and increase energy production in the US to facilitate Bitcoin mining. Additionally, he has threatened to “fire” Gary Gensler, the chair of the US Securities and Exchange Commission, who is thought to be antagonistic toward the cryptocurrency sector.

“On day one I will fire Gary Gensler.”

“I will immediately shut down operation chokepoint 2.0”

“I will immediately order treasury to cease and desist all activities to create a CBDC”

“We will create a framework to operate the safe expansion of stablecoins”

“You never sell… pic.twitter.com/DcmC8Q1ti0

— Bill Barhydt (@billbarX) July 27, 2024

These suggested legislative adjustments demonstrate the increasing convergence of politics and cryptocurrencies. Digital assets are becoming a bigger campaign issue as they become more widely used. Since May 2024, Trump’s campaign has already raised $25 million in cryptocurrency, including Bitcoin, suggesting a change in political fundraising tactics.

The discussion concerning the future of money and financial systems is further highlighted by the possible application of Bitcoin to pay down the nation’s debt. Cryptocurrency proponents contend that their technology opens up new financial possibilities and may provide answers to persistent problems in the economy. They view digital assets like Bitcoin as instruments to encourage financial independence and lessen dependency on centralized banking systems.

Conversely, opponents are concerned about how mining Bitcoin may affect the environment, how it might help with illegal activity, and how difficult it will be to incorporate digital assets into current financial systems. They contend that although cryptocurrencies might play a part in finance in the future, they cannot solve complicated problems like the nation’s debt.

The Future of Cryptocurrency in American Politics and Economics

The idea that the national debt can be paid off with Bitcoin also calls into question the government’s role in overseeing and controlling digital assets. The ideological gap on these issues is highlighted by Trump’s promise to end the current administration’s “anti-crypto campaign” and to oppose efforts to create a digital currency backed by a central bank.

It’s evident from the ongoing discussion that cryptocurrencies are playing a bigger role in American politics and economic policy. Whether or not Bitcoin turns out to be a solution for the country’s debt, the debate about it is bringing up significant issues regarding the direction money will take, the role of government in financial markets, and the difficulties facing the American economy.

The technology tightened to cryptocurrencies and the legislation surrounding them are expected to continue to advance in the upcoming years. The relationship between digital assets and national finance will continue to be a vital topic of discussion and innovation as policymakers, economists, and technologists work through these challenges.

Even though some may find Trump’s plan to use Bitcoin to reduce the national debt radical, it actually reflects an increasing understanding of the potential influence cryptocurrencies could have on world finance. The place of digital assets in national economic strategy will surely continue to be a hotly debated topic as the United States navigates its ongoing fiscal challenges.

The post Trump’s Bitcoin Ambition: Can Crypto Solve America’s National Debt Crisis? appeared first on Metaverse Post.

Decentralized virtual world platform, The Sandbox announced the launch of the Rise of the Memecoins airdrop. This initiative aims to reward memecoin enthusiasts for their creativity and involvement in interactive experiences within the platform.

The Rise of the Memecoins event, running until September, promotes the cross-chain use of SAND and offers rewards such as creative contests, immersive gaming experiences, and exclusive avatars inspired by memecoin communities, including PEPE, DOGE, SHIB, BONK, and DEGEN.

The event features a limited edition collection of memecoin-inspired avatars, with one unique avatar per memecoin. These avatars are available exclusively to holders of each memecoin who have a The Sandbox account and SAND in their wallet, with a maximum of 10,000 avatars per collection. The top 2.5% of participants will receive a Diamonds skin, the top 17.5% will receive a Gold skin, and the top 80% will receive a Normal skin.

Furthermore, the event includes two contests for creators: a VoxEdit contest and a Game Jam. These contests invite participants to design experiences and wearables inspired by memecoins.

The VoxEdit contest invites creators to design distinctive and visually appealing wearables inspired by different memecoins. Meanwhile, the Game Jam allows users to develop and present meme-themed game experiences. The top entries from the Game Jam will be selected for inclusion in the live event, with a minimum of five experiences being featured.

To be eligible for participation, users must hold at least five SAND on Polygon or five SAND on Ethereum and own at least one of the specified memecoin tokens. Avatars for each community come in three different skins, with rarer skins airdropped based on the USD value of users’ holdings in SAND, LAND, and memecoin tokens. Additionally, users must be among the top 10,000 holders of the specified memecoin tokens at the time of the snapshot, as each of the five collections will be limited to a maximum of 10,000 avatars.

AIRDROP INITIATED Eligible holders check your wallets! #RiseOfTheMemecoins pic.twitter.com/SYrXyACWTK

— The Sandbox (@TheSandboxGame) August 5, 2024

The Sandbox: A Virtual Platform For Creation, Owning, And Monetization Of Gaming Experiences  

The Sandbox is a virtual platform where users can create, own, and monetize gaming experiences through blockchain technology. It includes key elements such as gaming content, LAND, non-fungible tokens (NFTs), and the utility token SAND.

SAND serves as the primary utility token within The Sandbox ecosystem, facilitating transactions and interactions. It is an ERC-20 token based on the Ethereum blockchain. LAND, on the other hand, represents digital real estate within the metaverse, allowing users to design and build virtual experiences.

The post The Sandbox Initiates Airdrop To Reward Participants Of ‘Rise Of The Memecoins’ Event For Creativity appeared first on Metaverse Post.

Blockchain asset issuance platform Noble introduced its new user-facing application, Noble Express. This new application is crafted for USDC stablecoin, facilitating transfers across Ethereum, Layer 2 networks, Solana, Cosmos, and inter-blockchain communication protocol (IBC) blockchains.

Noble Express provides efficient transfers with zero slippage and includes a transaction history feature. Furthermore, it utilizes the Cross-Chain Transfer Protocol (CCTP), developed by Circle, to enable the smooth transfer of native USDC across different blockchains and Cosmos via the IBC Protocol.

Additionally, the new solution incorporates user experience enhancements from the Noble blockchain, such as the forwarding module, which allows users to switch between multiple blockchains with a single click. The primary aim is to simplify the process of moving funds across any blockchain.

Starting today, Noble offers a beta testing option for the application, enabling individuals to complete transactions between Ethereum, Arbitrum, Avalanche, Polygon, Base, Solana, and Cosmos IBC blockchains. Notably, though this represents a beta release, Noble Express users can anticipate upcoming features encompassing faster CCTP transactions, Ledger support, swaps for assets beyond USDC, a mobile application, as well as additional enhancements.

1/ Introducing Noble Express, the easiest way to transfer USDC between @ethereum, major L2s, @solana & @cosmos IBC chains!

1-click transfers
Zero slippage
Txn history viewhttps://t.co/AmARF2ru7M pic.twitter.com/Sau4cfKR48

— Noble (@noble_xyz) August 5, 2024

Noble: What Is It?

It represents a blockchain created specifically for native asset issuance in the Cosmos ecosystem. It aims to improve the efficiency and interoperability of native assets, starting with USDC. Leveraging the Cosmos-SDK, a versatile toolkit, Noble allows builders to incorporate existing and add custom modules, providing extensive functionality for asset issuers on its blockchain.

Recently, Ondo Finance, a cross-chain decentralized finance (DeFi) platform focused on tokenizing real-world assets (RWAs), announced the launch of its yield-bearing stablecoin USDY. This stablecoin is a tokenized note backed by short-term United States Treasuries and bank demand deposits, and it is now available on the Noble mainnet, marking the introduction of the first tokenized Treasuries product in the Cosmos ecosystem. It is now usable on platforms such as Injective, Osmosis, Kujira, and Pyth Network.

The post Noble Introduces Noble Express App For USDC Transfers Across Ethereum, Layer 2, Cosmos, And Other Blockchains appeared first on Metaverse Post.

Bitcoin News & Macro

One word: bloodbath. And nobody saw it coming… or did they? Let’s break it down. 

Source: TradingView

As last week kicked off with high hopes, Bitcoin flirted with the $70,000 mark, buoyed by positive vibes and a surge in Ethereum-based ETF inflows. The buzz about a potential “macro summer” rally fueled dreams of new all-time highs by 2025. But as the week rolled on, the mood took a turn.

As July drew to a close, the air grew thick with tension. Whispers of Bitcoin hitting an “inflection point” swirled, driven by rising open interest and looming regulatory news. The market was on edge with the introduction of new ETF products and chatter about a Bitcoin Strategic Reserve Bill in the Senate. Optimism mingled with caution as global economic jitters and possible rate hikes started casting long shadows.

August 2 hit like a cold shower. Bitcoin tumbled below crucial support levels, nosediving from close to $70,000 to around $65,000. The catalyst was a wave of leveraged long positions that got liquidated, erasing over $600 million in value. The sudden drop sent shockwaves through the market, sparking fears of an even steeper drop. And, as fate would have it, those fears turned out completely justified. 

As the market continued to unravel, Bitcoin sank further, bottoming out near $53,000. And – historians take note – It was the biggest three-day meltdown in the crypto space in a year, wiping a jaw-dropping $500 billion off the market cap. The culprits are likely a toxic mix of over-leveraged bets, macroeconomic anxiety, and overall regulatory uncertainty.

#Bitcoin traded below $50K. It's down about 22% since Friday's U.S. stock market close, and It's now down 45% priced in #gold since its Nov. 2021 high almost three years ago. It's back above $50K now, but wait until the stock market opens and ETF holders can finally sell too.

— Peter Schiff (@PeterSchiff) August 5, 2024

Analyst Peter Schiff came out with a grim prediction that, once the stock market opens, ETF holders are going to start selling as well, adding to the bearish drama. So, traders buckle up. 

Source: Alternative.me

The Fear & Greed Index is showing – you guessed it – extreme fear, with the current value being around the lowest historical points. So, more action to come, eh? 

Source: Alternative.me

As we speak, the market finds itself in deep red, and for now there’s no sign of recovery anywhere on the horizon. Bitcoin’s dominance is climbing as altcoins and stocks take a hit, leaving everyone wondering if we’ve hit bottom or if there’s more pain to come.

BTC Price Analysis 

Now let’s zoom in on Bitcoin’s price action, (blue box on the charts). Let’s dive into the daily (1D) chart first. 

Source: TradingView

At the beginning of the week, BTC made an ambitious run at the $70,000 mark, a significant resistance level that had been tested and rejected before. The initial surge looked promising, but it quickly unraveled into a classic fakeout. The rejection was swift and harsh, resulting in a cascade of drops that blew past previous support levels.

The $65,000 support, which had been a reliable floor, was smashed in a fierce sell-off. The daily EMAs tell the same story: the 20-day EMA crossed below the 50-day EMA, signaling a bearish trend. This so-called “death cross” accelerated the decline, showcasing the sellers’ strength. The sell-off didn’t just pause at $60,000, another key support; it plowed right through, with heavy volume indicating panic and forced liquidations. 

Source: TradingView

Zooming in on the 4-hour (4H) chart, the decline looks even sharper, with little to no consolidation. A brief head-and-shoulders pattern popped up, with the neckline hovering around the $65,000 support. Once that gave way, the drop was relentless. The RSI tickled with overbought territory, but the bearish momentum was unstoppable. As we speak, we’re in some of the deepest oversold zones seen to date. Key levels like the $53,000 mark, which held strong during dips earlier this year, were revisited and quickly shattered. 

The action around the weekly open was a big tell. After a feeble attempt to reclaim higher ground, the price closed much lower, setting a bearish tone. Daily closes kept hitting lower lows, highlighting a strong downtrend. 

The $50,000 level is now a key battleground. Holding it could stop further losses, but if it breaks, we could see a drop to the $44,000 to $42,000 range. However, if the $50,000 level holds firm, we might see a relief rally, though any upward movement is likely to face tough resistance. 

Ethereum News & Macro

Needless to say, Bitcoin’s crash absolutely dominated the market, and Ethereum has been tightly tethered to its big brother’s whims. Despite a flicker of hope with the launch of Ethereum ETFs, the enthusiasm quickly fizzled. Grayscale’s Ethereum Trust reported significant outflows, signaling a lack of strong investor conviction. 

Source: SoSoValue

Even with some bright spots, like Celestia gaining ground in data storage, Ethereum couldn’t break free from Bitcoin’s gravitational pull. The crypto world’s attention was laser-focused on Bitcoin, leaving ETH and other altcoins in the shadows.

Adding to the gloom were unsettling headlines – like WazirX’s massive $266 million hack and ongoing regulatory uncertainties. These, coupled with the underwhelming reception of Ethereum ETFs, made ETH particularly vulnerable to the drop. 

Technically, Ethereum desperately tried to hold the $2,860 support level. But as Bitcoin stumbled, Ethereum tripped right after, with selling pressure pushing prices further down.

The recent nosedive isn’t just a number on a chart; it’s a stark reminder of Ethereum’s dependency on Bitcoin’s moves. The “Ethereum following Bitcoin” narrative has never been clearer, and the plunge has left investors jittery, casting doubts on ETH’s short-term outlook. 

ETH Price Analysis

In the daily chart, the blue box captures Ethereum’s sharp drop mirroring that of Bitcoin. Initially, ETH was clinging to the $3,000 mark, with $3,250 acting as a key support-turned-resistance from previous swings. 

Source: TradingView

But as Bitcoin stumbled, Ethereum couldn’t hold its ground, tumbling past $2,860, a critical psychological and technical support level. The 20-day EMA’s slide below the 50-day EMA only confirmed the bearish vibe. We saw red candles stretching out, signaling not just a dip but a full-blown capitulation, worsened by Bitcoin’s deeper cuts.

Source: TradingView

On the 4-hour chart, the picture gets even starker. Ethereum was locked in a range between $3,250 and $2,860, bouncing within these bounds until it hit a wall – a strong bearish engulfing pattern that shattered the lower support. And, sure enough, the engulfing did happen, sending the price of ETH down into the long-forgotten yearly lows. 

As of this writing, the price of ETH is dangling around $2,350 – that’s over 30% down since last Monday, with not a single higher high or higher low made during that time. 

Now, when we compare Ethereum’s selloff to Bitcoin’s, one thing stands out. Bitcoin dropped like a stone, a straight plunge that rattled the market. Ethereum, on the other hand, seemed to hesitate, breaking down from a drawn-out consolidation phase. This suggests that even before the drop, Ethereum had its own set of issues – perhaps an underlying lack of confidence among traders. So, investors will likely re-asses how much Ethereum they should keep in the near-term. 

The key $2,400 mark is now a line in the sand. If that doesn’t hold, $2,000 may be the next stop. Reaching back above $2,500-2,800 could signal a turnaround, but hey, we all know that things are looking heavy right now.

Toncoin News & Macro 

Meanwhile, Toncoin had a pretty still week. Not much has happened save the odd integration and/or partnership here and there.  

A major highlight was the integration news from CurioDAO, which now allows TON users access to RWA markets. This significant expansion of Toncoin’s utility could potentially boost its value by bridging digital and real-world assets.

Adding to the momentum, Trust Wallet announced a partnership with The Open Network (TON), aiming to enhance GameFi and DApp integration through Telegram’s vast user base. This collaboration promises to streamline TON transactions and expand its use cases, further supporting its price potential.

However, despite these strides, Toncoin did not (and could not) withstand the tsunami caused by the broader market shockwaves. And with that in mind, let’s move over to the charts. 

Toncoin Price Analysis

When Bitcoin falls, major coins will follow. TON has been no exception to this rule. However, while Bitcoin and Ethereum were on a bungee jump without a cord, TON took a more scenic route down, albeit still ending up in a steep plunge.

Source: TradingView

Starting with the daily (1D) view, TON’s descent kicked off with a slip from around $6.85 – a level that tried and failed to act as a trampoline. This tumble, highlighted by our blue box of doom, set off a chain reaction of sell orders, plummeting the price down to $4.77 before bouncing back. The 20-day EMA couldn’t catch the falling knife, and the subsequent bearish crossover below the 50-day EMA sealed the deal for a bearish outlook. The whole thing felt like a slow-motion disaster movie, complete with a dramatic volume spike. 

Source: TradingView

On the 4-hour (4H) stage, TON’s price action took a more drastic turn. It was comfortably cruising in a narrow range before hitting turbulence and breaking down. The support at $6.40 crumbled, sending the price diving. The RSI screamed “oversold,” just like in Bitcoin and Ethereum, hinting at panic. But unlike a plot twist, there was no surprise recovery; the price remained locked below the 50-EMA, which now felt more like a brick wall than a support line.

What’s next? For TON, the $5.26 level is the current lifeline, with eyes nervously watching if it will slip further to $4.50. If TON can rally above $6.40 and make a dash for $6.85, we might see a flicker of hope. But for now, the vibe is decidedly bearish. 

The post Crypto Carnage: The August Bitcoin Bear Run Explained appeared first on Metaverse Post.

Businessman and investor Elon Musk filed again a complaint in the federal court in Northern California against the AI research organization OpenAI, reigniting a six-year-old dispute that originated from a power struggle within the company. According to the filing, OpenAI and its founders, Sam Altman and Greg Brockman, violated the company’s founding agreement by prioritizing commercial interests over the public good.

Initially, Elon Musk filed a lawsuit against the company in January in a state court in San Francisco, alleging that Sam Altman and Greg Brockman knowingly misled him when they collaborated to create OpenAI. However, the arguments supporting the previous claim were deemed insufficient.

In a blog post responding to Elon Musk’s initial lawsuit against OpenAI, Sam Altman and others at the company stated that they planned to request the dismissal of the claims. They emphasized that the company’s goal is to serve the public good by developing artificial general intelligence (AGI), a machine capable of performing any task that the human brain can do.

Subsequently, Elon Musk withdrew his initial lawsuit seven weeks ago, without providing an explanation, just one day before a judge was scheduled to decide on its dismissal.

New Lawsuit To Assess OpenAI’s AGI Technology 

The new lawsuit is more assertive, arguing that OpenAI‘s contract with technology company Microsoft stipulates that the firm would lose its rights to OpenAI’s technology once OpenAI achieved AGI. It requests the court to assess whether OpenAI’s latest systems have reached AGI and to determine if the contract with Microsoft should be invalidated. 

Notably, most experts contend that OpenAI’s current technology does not qualify as AGI, and scientists have not yet determined how to develop such a system.

OpenAI positions itself as an organization dedicated to advancing research and development in AGI and generative models and is well-known for its chatbot, ChatGPT. In late May, the firm announced that it had begun developing a new AI model intended to succeed the GPT-4 technology behind ChatGPT, with expectations to deliver “the next level of capabilities.”

The post Elon Musk Initiates Another Lawsuit Against OpenAI And Its CEO Sam Altman appeared first on Metaverse Post.

Digital asset investment firm DeFiance Capital‘s founder and CEO, Arthur Cheong, shared a commentary on the latest decline in the cryptocurrency market. In a post on social media platform X, he noted that the current cryptocurrency downturn resembles the dramatic crash of March 2020, driven by weaknesses in traditional finance (TradFi), though this one appears to be somewhat less severe in scale.

He further suggested that the cryptocurrency market is likely to experience a period of low liquidity over the next few weeks. However, this could present some of the best investment opportunities for traders who have cash available. Arthur Cheong anticipates that, subsequently, some major players who missed out on entering the market earlier this year may take advantage of this opportunity to invest.

Eerily similar to March 2020 great crash of crypto driven by macro tradfi weakness albeit slightly smaller in magnitude.

Market will go into low liquidity period over the next few weeks but generally you find the best investment opportunities here if you have cash to buy.

Some…

— Arthur (@Arthur_0x) August 5, 2024

In March 2020, Bitcoin abruptly fell from $8,000 to $3,867. This crash was triggered by multiple factors, including the coronavirus outbreak, which impacted global markets and drove investors toward the safety of cash. Additionally, an uptick in equity markets, which may have been a chart-driven bounce, and the Federal Reserve’s decision to inject $1.4 trillion into the financial system influenced the situation. The dip also occurred during a period of volatile trading on Wall Street.

Justin Sun Purchases 16,236 ETH Amid Market Decline 

The recent decline also occurred against a backdrop of multiple strong factors, including macroeconomic updates, asset movements by Jump Crypto, and the increasing likelihood of Kamala Harris winning the upcoming United States election over pro-cryptocurrency candidate Donald Trump.

As of the current writing, Bitcoin is trading at $51,511, reflecting a decline of over 15.39% in the past 24 hours. Meanwhile, the price of ETH is currently $2,256, marking a 22.61% decline over the past day, according to data from CoinMarketCap. This continues the downward trend that began over the weekend.

Notably, some market participants are already taking advantage of the current conditions. Cryptocurrency entrepreneur Justin Sun has reportedly used 37 million USDT to purchase 16,236 ETH. According to on-chain analysts, the address was created today and withdrew 38 million USDT from the HTX cryptocurrency exchange.

The post DeFiance Capital: Upcoming Weeks To See Low Liquidity, Presenting Excellent Market Entry Opportunity appeared first on Metaverse Post.

A new wave of AI startups is starting to appear, each offering creative fixes for challenging issues in a range of sectors. Some of the most useful AI startups that are creating new opportunities for the tech industry are examined in this article.

Anthropic and OpenAI: the Rise of Language Models

OpenAI and Anthropic have made a name for themselves as pioneers in huge models at the forefront of the AI sector. These businesses have achieved great progress in developing AI systems that can analyze images, summarize large amounts of text, and respond to intricate queries. They are constantly pushing the limits of natural language processing and understanding through their competition with tech behemoths like Meta Platforms and Google’s Alphabet.

Suno: Transforming the Production of Music

Suno has created technology in the field of creative AI that can produce intricate-sounding songs, complete with vocals. A larger audience can now create music, but this innovation has also generated controversy. The company has been sued by major record labels for allegedly violating copyright, bringing to light the intricate legal issues that arise when AI enters creative fields.

ElevenLabs: The Forerunner of Voice Cloning

ElevenLabs’ innovative voice-cloning software has attracted attention. Although this technology has the ability to assist users who struggle with speech, there are worries about possible misuse, such as the production of false audio content. ElevenLabs’ innovation has two sides, which emphasize the need for responsible AI development and application.

DeepL: Overcoming Linguistic Obstacles

DeepL has become a very strong player in the language translation market. In response to the growing need for AI-powered language solutions in international business communications, their platform provides incredibly accurate translations in a variety of languages. The market’s confidence in AI-driven language technologies is demonstrated by the company’s recent huge funding, which valued it at $2 billion.

Frame AI: Interpreting User Data

Frame AI is using its innovative platform to address the problem of customer comprehension. Their “Voice of the Customer engine” assists businesses in finding recurring themes among their clients, spotting trends in customer acquisition and retention, and converting qualitative feedback into useful quantitative information. This method is completely changing how companies perceive and address the needs of their clients.

Uizard: Democratizing Design

With its AI platform, Uizard is creating an impact in the design and prototyping industry. Uizard is democratizing the design process by letting users build designs for web pages and apps with little to no coding knowledge. Their technology turns diagrams and drawings into functional code and concepts, streamlining the prototyping procedure for users as well as companies.

Moveworks: Increasing Productivity at Work

With the use of machine learning, AI, and natural language understanding, this AI platform is tackling problems in the workplace. Moveworks wants to make the workplace more responsive and efficient by handling everything from paper approvals to common questions and troubleshooting them. This could change the way businesses manage their internal operations.

Databricks: Combining AI and Data Analytics

Databricks has established itself as a leader in the field of data analytics and artificial intelligence deployment. Businesses in a variety of industries are using their unified analytics platform, which incorporates AI solutions capabilities, to make data-backed decisions.

Synthesia: Customization of Video Content

An AI-powered system for mass production and personalization of video materials has been developed by Synthesia in response to the growing trend of video content dominating digital strategies. Synthesia is changing the way businesses approach video production by creating videos with human-like avatars. These videos can be used for marketing campaigns or e-learning, and they also help businesses create engaging content.

Codeium: The AI Assistant

With its AI-powered coding assistant, Codeium is leading the way in the field of software development. Codeium is potentially reshaping the coding process by offering code search functionality, online code suggestions, and IDE. These features could make the coding process more accessible and efficient.

Cohere: Promoting Linguistic Comprehension

Cohere has become a prominent player in the creation of sophisticated AI and expansive language models for commercial use. Their recent $500 million funding round at a $5.5 billion valuation shows that their technology, which enables businesses to comprehend and produce text that appears human, is finding apps across a variety of industries.

Soundful: Crafting the Future of Music

Soundful is using artificial intelligence in the audio content creation space to help companies produce and personalize excellent soundtracks for their digital content. Media producers can improve the audio quality of their works by utilizing the company’s algorithms to work with emotions, tone, and context.

Dialpad: Transforming Intelligence for Users

With its extensive platform, Dialpad is changing customer engagement and communication. Dialpad is assisting businesses in streamlining their communication processes and gaining insightful information from customer interactions by integrating different artificial intelligence instruments for consumer involvement, earnings intelligence, and teamwork.

Anduril: Using AI to Improve Defense

Anduril has transformed the defense and security industry by creating AI-driven defense technologies. Their major funding draws attention to the growing role that artificial intelligence is playing in military and national security applications, which could change how nations formulate defense plans.

Insitro: Accelerating Drug Discovery

Insitro is using artificial intelligence to find new drugs in the pharmaceutical and healthcare sectors. Insitro is an example of how artificial intelligence can speed up medical research and enhance patient outcomes by potentially changing the way new treatments are created and introduced to the market.

All these startups are influencing the direction of AI and its uses in a variety of industries as they develop and innovate. There are still obstacles to overcome, especially in the areas of ethics, privacy, and responsible development, but there is no denying that AI has the power to drastically change the world.

The post Modern AI Startups Solving Real-World Problems: From Language Models to Music Creation appeared first on Metaverse Post.

Bitcoin scaling solution Fractal warns about a delay of one hour for the upcoming reset to ensure proper configuration and deployment. As per the revised schedule, the reset will begin at 09:00 AM UTC on August 5th and is anticipated to take approximately one hour.

This reset will be the second-to-last phase before the anticipated full testnet launch in August. Fractal has already completed several resets in the previous month, with the most recent one being available only to initial builders who are testing essential functions.

Fractal Bitcoin Testing Phase Reset Update

To ensure proper configuration and deployment, we regret to inform you that the reset time will be delayed by one hour. The reset is now scheduled to start on August 5, 2024, at 09:00 AM (UTC) and will last for approximately one… https://t.co/fEgxnEzZ0U

— Fractal Bitcoin (@fractal_bitcoin) August 5, 2024

The project is preparing to introduce its mainnet in September. Once fully operational, it will use the SHA256 Proof-of-Work (PoW) algorithm, guaranteeing compatibility with Bitcoin’s merged mining. This will provide smooth integration for miners while upholding the established security standards of Bitcoin.

Fractal initially launched its beta testnet in June, enabling a select group of builders and miners to test its operations using testnet tokens.

How Fractal Functions?

Currently under development, the project is a Bitcoin scaling solution that integrates Bitcoin Core code into a virtualized software environment. This setup aims to support scalable, limitless layers built on top of Bitcoin.

The project proposes a unique native scaling solution that utilizes Bitcoin Core code to recursively scale unlimited layers on top of the Bitcoin main blockchain. Rather than establishing separate lanes like sidechains, it aims to create additional, unlimited lanes directly on the existing Bitcoin blockchain.

Fractal is designed to be fast, native, dynamic, and consistent. Block confirmations occur in approximately 30 seconds or less and can process up to 20 times more transactions than the main Bitcoin blockchain. Its use of Bitcoin Core code ensures compatibility with existing Bitcoin wallets, tools, and miners. Each new layer integrates with the main blockchain, allowing transactions to be traced back to Bitcoin. This approach maintains integrity and security, ensuring that every transaction is traceable and the system remains reliable.

Additionally, Fractal employs the same PoW consensus mechanism used by Bitcoin, allowing miners to validate transactions and add Fractal blocks with their ASICs, GPUs, and other hardware without needing additional equipment. It also introduces a new mining method, Cadence Mining, which balances merged mining with permissionless mining. In this method, for every 3 blocks mined, 2 are permissionlessly mined, and 1 is merge-mined.

The post Fractal To Initiate Second-To-Last Testing Phase Reset Today Ahead Of Testnet Launch appeared first on Metaverse Post.

I’m happy to introduce you to our newly launched Hot Projects section, a project that I’ve been deeply involved in creating. I’m excited to give you an insider’s perspective on what makes this feature a standout resource for professionals and enthusiasts alike. Our goal was to create a comprehensive and user-friendly platform that provides valuable insights and data on the most exciting projects in the industry. 

Overview of the Hot Projects Section

The Hot Projects section is meticulously designed to cater to the needs of various users, offering a structured and detailed approach to project evaluation and discovery. The product is built around three core components:

Tables. The foundation of our Hot Projects section, these tables provide a quick overview of key project metrics and data points, allowing users to swiftly compare and contrast different projects.

Individual Project Pages. Each project has its dedicated page, offering in-depth information, links, and resources to help users gain a comprehensive understanding of the project’s scope, goals, and impact.

Reports. Detailed reports provide analytical insights and evaluations based on a wide range of parameters, offering a deeper dive into the performance and potential of each project.

Our intention was to ensure that the Hot Projects section is both informative and intuitive, enabling users to effortlessly navigate through a wealth of information and identify the most promising opportunities.

Archive Page and Engagement Features

One of the key features of the Hot Projects section is the Archive Page. This page serves as a repository of  projects, offering users the ability to explore data and trends. A key highlight of the archive is the option to subscribe and share content, enhancing user engagement and community interaction.

The archive’s design allows users to stay updated with the latest project developments and insights while also facilitating knowledge sharing across social media platforms. This feature underscores our commitment to fostering a collaborative environment where users can learn from each other’s experiences and insights.

Table Features and Project Categorization

The tables within the Hot Projects section are a powerhouse of information. Each table is meticulously organized with headers that categorize projects based on various metrics. The inclusion of accordion features and fund links allows users to delve deeper into specific areas of interest.

Moreover, there is one important feature –  the project categorization, which will enable users to filter projects by type, streamlining the search process and ensuring that users can easily find projects that match their interests.

The Rate column represents the culmination of our analytical efforts, providing users with a succinct evaluation of each project’s potential and performance based on our proprietary analytics.

Attracting Newcomers to the Industry

We recognize that the current market environment is ripe for attracting newcomers to the industry. Our FAQ section provides valuable insights for those new to the field, emphasizing the opportunities and favorable conditions for entry.

By offering guidance and resources tailored to newcomers, we aim to lower barriers to entry and support the growth of fresh talent in the industry.

Interlinking with Other Products

Our Hot Projects section is seamlessly integrated with other products, creating a cohesive ecosystem that enhances user experience and engagement. The Other Projects block highlights this interconnectedness by linking to related products and initiatives.

These interconnections are curated manually, ensuring that users are presented with relevant and valuable content. 

Individual Project Pages: Information at Your Fingertips

The individual project pages are designed to be a one-stop shop for users seeking comprehensive information about specific projects. Each page features a detailed description block that distills essential information, making it easy for users to grasp the fundamentals quickly.

These pages also include links to the project’s website and social media channels, providing users with direct access to the latest updates and announcements.

Project Overview and Shareability

Within the individual project pages, the Project Overview block offers users a snapshot of key metrics and information. This block is designed with user interaction in mind, featuring options for sharing insights across social media platforms.

The overview includes market cap data sourced through API integration, as well as evaluations drawn from our detailed reports. A link to the full report is also available, ensuring users have access to the complete spectrum of analytical insights.

Comprehensive Reports

Our reports are a hallmark of the Hot Projects section, offering a deep dive into the nuances and intricacies of each project. Prepared by expert analysts, these reports evaluate projects across multiple dimensions, providing a thorough assessment of their potential and performance.

Social Media & Docs

The Social Media & Docs section evaluates the project’s online presence and the quality of its documentation. This includes engagement on social platforms like Twitter and Discord/Telegram, the comprehensiveness of the pitch deck, the professionalism of the website, the thoroughness of documentation, and the frequency and quality of blog posts.

Project Overview

The Project Overview section provides a detailed assessment of the project’s product and architecture, backing and partnerships, team and advisors, market positioning, and business model. This holistic view helps users understand the project’s viability and strategic approach.

Tokenomics

The Tokenomics section evaluates the distribution strategy, metrics, utility, and overall value of the project’s token. This analysis is crucial for understanding the economic model and long-term sustainability of the project.

Each report culminates in an overall project rating, offering users a clear and concise summary of the project’s standing within the industry.

Conclusion

The Hot Projects section is more than just a resource; it’s a gateway to understanding the dynamic landscape of the industry. By providing users with comprehensive insights, detailed analytics, and intuitive navigation, we’ve created a platform that empowers users to make informed decisions and seize opportunities in this field.

Our commitment to innovation and user-centric design ensures that the Hot Projects section remains an invaluable tool for industry professionals and newcomers alike. We invite you to explore this section and discover the wealth of information it has to offer.

The post An Insider’s Guide to the new Hot Projects Section appeared first on Metaverse Post.

Cultural and entertainment platform Matr1x announced the burn of 200 million MAX tokens, constituting 20% of the total supply. This burn includes 50 million tokens from the Team and Investors allocation, 80 million from the community allocation, and 70 million from the platform contribution. In a post on social media platform X, Matr1x announced plans to further continue with additional token burns.

Last month, Matr1x revealed the tokenomics for MAX, with a total supply of 1 billion MAX tokens. The distribution includes 30% allocated to the team and investors, 27.6% for contributions, 16% for the Ecosystem, 10% for the community, 9.4% for non-fungible token (NFT) airdrops, 5.5% for early bird activities, as well as 1.5% for advisors.

MAX functions as a governance token on Matr1x, facilitating applications and services within the ecosystem. Its primary utilities include community governance participation, which enables individuals to propose and vote on governance parameters and expansion features, ecosystem value capture via treasury distributions, participation in the Matr1x Launchpool, and eligibility for airdrops from other projects.

In addition, MAX provides holders with rights to publish games, vie for club seats, vote on activities, and utilize MAX in different projects. It also supports staking, thereby enhancing the network security, and offers incentives for individuals who help sustain the network. Furthermore, the token allows for governance decision-making on the Matr1x blockchain, allowing individuals to influence the development direction.

The token was recently listed on several major cryptocurrency exchanges, encompassing OKX, BingX, Bitget, HashKey Global, Kucoin, Gate.io, and Backpack.

Voice of the team behind the destruction of 200 million tokens:

1. The founding team has full confidence in the development of Matr1x

2, we believe that ecological products have the ability to produce blood

3. We will continue to burn MAX in a series of ways

4. Play Web3… https://t.co/bCWLRhIvzz

— Saku (@saku_web3) August 5, 2024

Matr1x Participates In HashKey Global’s Launchpool As Sixth Project With 350,000 MAX In Rewards   

Matr1x represents a platform that merges gaming, AI, and esports with blockchain. Its aim is to transform gaming and digital content sectors via the application of blockchain and AI. The project has raised $20 million in funding from various investors, including Hana Financial Investment, HashKey Capital, as well as OKX Ventures, among others.

It is currently featured as the sixth project in HashKey Global’s Launchpool. Participants can earn a share of 350,000 MAX tokens as rewards by maintaining net positions in futures or by locking up MAX tokens.

The post Matr1x Burns 200M MAX Tokens, Reducing Total Supply By 20% appeared first on Metaverse Post.

Custody services provider ChainUp Custody announced a strategic partnership with the Bitcoin staking protocol Babylon. This joined effort aims to offer institutional investors an innovative method for engaging in Bitcoin staking.

Babylon is a protocol that allows Bitcoin holders to participate in staking, thereby contributing to over $1.3 trillion in economic security for other networks in exchange for a staking yield. This facilitates a secure and profitable way for BTC holders to support the broader blockchain ecosystem.

As part of their partnership, ChainUp Custody has incorporated the Babylon protocol into the ChainUp multi-party computation (MPC) wallet, creating a convenient staking platform.

Furthermore, through this partnership, Babylon will offer a new way for users to earn money by integrating Bitcoin into the Proof-of-Stake (PoS) mechanism, enhancing security and decentralization while attracting more users. The partnership is expected to ensure asset security by minimizing the risk of asset loss and improving operational efficiency. Babylon’s simple API will allow customers to manage their Bitcoin staking efficiently, saving both time and costs. Additionally, it provides increased income opportunities, allowing institutional customers to earn stable passive income and optimize their asset allocation.

Users will be able to access the Babylon Staking service via the Babylon Staking API, allowing them to stake Bitcoin and earn returns. The API supports staking, unstaking upon maturity, and early redemption. In the next phase, the ChainUp MPC wallet will introduce a console staking function.

A Blockchain Solutions Provider Empowering Businesses With Blockchain Technology  

ChainUp Custody represents a comprehensive blockchain solutions provider dedicated to empowering businesses via blockchain. It offers services and solutions that assist customers in mitigating risk and optimizing the capital efficiency of their digital assets. The firm has a variety of compliant solutions, encompassing digital asset exchange, Know Your Transaction (KYT), non-fungible token (NFT) trading, wallet services, liquidity management, Web3.0 infrastructure, digital asset custody, security token offerings (STOs), and more.

Last year, the firm secured the “Best Institutional Custody & Asset-Service Solution” award in the Digital Assets category. This recognition highlights its cryptocurrency solutions, which offer bank-grade security architecture and enhanced legal and compliance controls tailored to meet the needs of regulated entities.

The post ChainUp Custody Partners With Babylon To Enable Institutional Participation In Bitcoin Staking appeared first on Metaverse Post.