Tortola, BVI, June 14th, 2024, Chainwire

Stage, with it’s $STAGE token that is set to launch soon on the BNB Chain, launches a platform where music fans directly influence the rise of new stars and get rewarded for it. This platform combines talent, technology and tokens to create a dynamic music ecosystem.

Stage is where artists and fans alike actively participate in shaping the future of music. On Stage, artists upload their video performances and compete in exciting rounds to rise to stardom. Fans play a crucial role by voting for their favorite artists, potentially earning exclusive rewards, and engaging with unique Real World Asset (RWA) Badges. The innovative business model ensures that artists receive 60% of the proceeds from votes cast for them, alongside 10% royalties on RWA Badges. Fans, on the other hand, are rewarded with Stage Badges for their support, making every interaction on the platform mutually beneficial.

The mission at Stage is straightforward: to empower music fans and artists, ensuring that everyone gets a piece of the action. The vision is to build a thriving community where every interaction enriches both fans’ and artists’ journeys.

Backed by top-tier crypto entities such as the Solana Foundation and key industry figures, including the CEO of Kraken US, Stage has additional support from RR2 Capital, Moonrock Ventures, and Cogitent (among others).

The powerhouse team behind Stage includes André Cruz, CEO and Co-Founder, a musician and e-commerce expert with three successful exits; Geoffrey Doyen, CTO and Co-Founder, who brings extensive AI experience from working with Fortune 500 companies; and Francisco Quartin de Macedo, COO and Co-Founder, who previously led a trading desk at blockchain.com.

Stage has also attracted high-profile ambassadors, including celebrities with millions of followers who will help amplify the mission. Among them is Jerry Heil, who ranked Ukraine as Eurovision 3rd Place. Their influence helps Stage reach a global audience and attract top-tier talent to the platform.

By integrating Web 3.0 principles, Stage aims that both artists and fans are fairly compensated and deeply engaged. The platform’s unique approach includes:

Play-to-Earn Model: Gamify the user’s music experience and potentially earn as they participate.

Real World Assets (RWAs): Users can collect and trade digital badges linked to exclusive artist rewards.

AI Music First: Users can compete in AI music competitions and tokenize music samples, melodies, beats, and vocals.

The Token Generation Event (TGE) for $STAGE will be conducted through the reputable launchpads ChainGPT, Decubate and Eesee. This will aim to a broad and invested audience, to potentially maximize the impact and reach of the token launch.

Users can stay updated with Stage’s journey by following on Twitter and joining the Telegram community, to be the first to know about the latest updates and exclusive rewards.

Contact

CTO & Co-Founder
Geoffrey Doyen
Stage Token Inc.
info@stage.community

The post Stage Raises $2.4M to Revolutionize the Future of Music appeared first on Blockonomi.

Supercharge your crypto journey with our top 4 crypto presales and unlock a world of opportunity. Delve into the realm of early-stage investments and seize the chance to invest in groundbreaking projects. With our expertly curated picks, you’ll secure tokens at prices that promise remarkable returns. Don’t settle for ordinary gains—embrace the extraordinary and pave your way to financial freedom today!

XUIRIN

Enter a joyful new era of cross-border transactions with #XUIRIN Finance’s revolutionary DeFi Debit Card! Imagine experiencing unparalleled privacy, security, and global reach with XUIRIN’s innovative offerings. Wave goodbye to cumbersome payment processes and embrace a world of seamless transactions. Each swipe, fueled by rapid speeds and unique incentives, accelerates you towards a more accessible financial horizon. Feel the excitement of being at the forefront of financial liberation and convenience. Act now to secure your portion of $XUIRIN tokens in the presale, and lead the way into a brighter financial future.

ORACLE MEME

Redefining the meme coin landscape, ORACLE MEME emerges as the first-ever utility-packed meme coin, brimming with engaging features and tools for its community. Unlike other meme coins that depend heavily on social media buzz and hype, OMEME stands on a robust foundation of real utility and innovative technology. The Meme Coin Generator is a notable feature, enabling users to create and share their meme-based assets easily. ORACLE MEME’s Layer 2 Meme Network ensures rapid transactions and superior scalability. The Meme Wallet and Meme Launchpad offer a unified platform for buying, selling, and trading memes. The ORACLE MEME token presale is already in progress—seize the opportunity to join this groundbreaking project.

BONKMILLON 

Brace yourself for the exhilarating ride of #BONKMILLON ($BONKM), where every twist and turn sparks excitement. Unlike traditional tokens, $BONKM invites you to dance on the edge of innovation and dive into the pulsating world of digital assets. Picture a dynamic stage where every price fluctuation is a chance to shine, where fortunes are sculpted by those bold enough to embrace the thrill. Join us in rewriting the script of finance and participate in the presale of BONKM today. Seize your opportunity to be part of a revolution that celebrates the joy of unpredictability.

DTX Exchange

Are you ready to revolutionize your trading experience? Join the #DTX presale today and experience lightning-fast transactions and zero commission charges*. Say goodbye to traditional exchanges and hello to the future of trading. With DTX, you can trade with confidence, knowing that your transactions are secure and efficient. Don’t let high fees hold you back – join us now and take control of your financial future. Don’t miss out on this opportunity to reshape your investment journey. Join the $DTX presale today and be part of the revolution that is reshaping the investment landscape. Act now and secure your spot in the future of decentralized trading.

Conclusion

Delving into the world of the Top 4 Crypto Presales isn’t just about investing capital; it’s about engaging in the unfolding narrative of digital finance. These presales offer entry points to projects with the potential to revolutionize industries. By engaging with them, we transition from passive observers to active contributors in the journey of innovation. Now is the time to embrace our role as trailblazers, to advocate for projects that resonate with our ideals, and to curate a portfolio that reflects our unwavering belief in blockchain innovation.

CoinGabbar team has shortlisted the projects based on certain factors including social and technical sentiments, and market conditions. Please reach out on sourabh@coingabbar.com or telegram @GabbarSourabh.

The post Top 4 Crypto Presales: Unleashing the Potential of Tokenized Assets appeared first on Blockonomi.

The cryptocurrency world is excitedly buzzing, ignited by an optimistic Ton price prediction for June, significant moves by Cardano whales, and BlockDAG’s innovative advancements. The latest Ton price forecast hints at potential growth, promising notable returns for investors. Meanwhile, Cardano whales gravitate towards memecoins, showcasing their adaptability and pursuit of high profits. On a different note, BlockDAG has launched the beta version of its X1 Miner App, revolutionizing mobile mining and driving its presale success, raising $49.5 million and achieving an 1120% surge in coin value from Batch 1. Ton Price Prediction Signals June Growth Potential The latest Ton price prediction indicates an upward trend for June, reflecting a positive outlook for Toncoin’s projected gains. Analysts foresee considerable growth for Ton if the current market conditions persist. Investors are advised to monitor these developments closely, as the Ton price prediction points to substantial returns. Staying updated on market trends is vital for making well-timed investment decisions in the evolving cryptocurrency landscape. Cardano Whales Shift Focus to Memecoins for Gains Recent analyses show Cardano whales are turning towards memecoins, marking a significant shift in their investment strategy. This move by Cardano whales highlights their adaptability in the volatile crypto market. As they explore new opportunities, these large investors aim to benefit from the high returns often associated with memecoin investments. Watching the actions of Cardano whales can offer valuable insights for other investors navigating the dynamic cryptocurrency landscape. BlockDAG’s Innovations Cross Presale Over $49.5M BlockDAG has strengthened market confidence by launching the beta version of its X1 Miner App. This app has revolutionized smartphone mining for BDAG coins, making the process highly efficient. With an advanced and energy-efficient consensus algorithm, X1 ensures that mining doesn’t drain your battery or consume excessive data. This seamless integration of proof of engagement into daily devices allows users to mine anytime, making it highly accessible and convenient. The X1 miner app’s beta version is now available for iOS and Android platforms. Users can access the iOS version globally via TestFlight and download the Android version directly from the Google Play Store. The BlockDAG team has promised to send email updates once the app is fully developed and available in app stores, ensuring users stay informed about the latest developments. BlockDAG also offers cloud mining, which allows users to mine without physical hardware. This service leverages the power of remote data centers, providing a hassle-free mining experience with flexible contracts that cater to user preferences. This convenience has significantly boosted BlockDAG’s presale, now in Batch 18 with a coin price of $0.0122, marking an 1120% surge from Batch 1. BlockDAG’s innovative solutions ensure that all investors and crypto enthusiasts can easily access and benefit from its high-potential mining services. BlockDAG: The Mining Solution BlockDAG excels in providing top-tier mining solutions, which is highlighted by activating its beta version of the X1 Miner App. This innovation has transformed mobile mining, significantly contributing to the presale’s success, raising $49.5 million. The coin value evolution, marked by an 1120% surge from the Batch 1 price, underscores BlockDAG’s steady growth and strong market confidence. This success story shifts focus from the TON price prediction and Cardano whales, firmly positioning BlockDAG as a leading force in the cryptocurrency landscape with the best crypto mining rigs. Join BlockDAG Presale Now: Website: https://blockdag.network Presale: https://purchase.blockdag.network Telegram: https://t.me/blockDAGnetworkOfficial Discord: https://discord.gg/Q7BxghMVyu

The post BlockDAG’s Mobile Mining Consolidation With Cutting Edge X1 Miner App Beta, TON And Cardano’s Shifting appeared first on Blockonomi.

Ever dream of turning your pocket change into a treasure chest overflowing with gold? The world of crypto offers exciting options, but where to start? Let’s dive into three choices: Polygon, a speedy problem-solver for Ethereum; BitBot, a powerful trading bot for your chat app; and MoonBag(MBAG), a project with some seriously impressive returns… MoonBag, in particular, has been making waves with its presale success. Stage 5 is on fire, having already raised a staggering $2.1 million! And here’s the kicker: whispers on the treasure map say the price could surge to an excellent $1 by November! But is it all smooth sailing? Explore these options and see which one might be your golden ticket! Polygon (MATIC): The Speedy Sidekick to Ethereum Polygon (MATIC) is currently priced at $0.641405, maintaining a 24-hour trading volume of $431,759,573, with a negligible dip of 0.02%. Renowned for its scalable solutions to Ethereum’s congestion issues, Polygon is a popular choice due to its lower transaction fees and faster processing times. While it faces competition from other Layer 2 solutions and regulatory uncertainties, its close association with Ethereum could also be a strength. The potential impact of Ethereum changes on Polygon is a risk to consider. Still, Polygon’s expanding ecosystem and proactive development remain attractive, offering a promising investment opportunity. BitBot: Wall Street in Your Pocket (Telegram App)? Forget wrestling with complex trading platforms – BitBot brings Wall Street tools to your Telegram. Imagine managing your crypto with features like “automated sniping” and “yield optimisation” – all within your familiar chat app. Security is a priority, and BitBot allows you to hold the keys to your assets, which is ideal for both large and small investors. But is this a game-changer for everyone? While these features empower experienced traders, beginners might be overwhelmed. Understanding these functionalities requires a significant learning curve. Is BitBot truly democratising crypto or creating a fancier platform for seasoned players? BitBot did raise a respectable $4.3 million during their presale, but a lack of transparency around price progression makes it difficult to compare their success to competitors. MoonBag Crypto: Predicted To Reach $1? Moonbag crypto presale offers unprecedented investment opportunities with staggering returns on investment (ROI) of 9,000% and 15,000% for the earliest presale joiners. These high returns are complemented by robust strategies designed to enhance and stabilise the coin’s value. The liquidity strategy ensures seamless transactions and minimises slippage, with 20% of the raised funds in the public presale allocated directly for liquidity. The burning mechanism steadily reduces the coin supply, increasing scarcity and value, as community incentives and referral systems will burn excess coins. Additionally, strategic buybacks are employed to maintain market stability and boost token value. Liquidity is initially divided into six parts, and gradual repurchases and burns create buy pressure and eliminate purchased coins from circulation. Scalability is at the heart of Moonbag crypto’s design, ensuring it can accommodate an ever-growing number of users and transactions without compromising performance. With Ethereum as the engine driving this project, Moonbag is equipped to handle the future demands of the crypto space. Its commitment to liquidity, burn, and buyback strategies, combined with a focus on scalability, makes Moonbag a highly lucrative investment and a sustainable and reliable platform for long-term growth. Conclusion In comparing Bitbot, Polygon, and Moonbag crypto, it’s clear that Moonbag stands out with its exceptional ROI of 9,000% and 15,000% for early joiners, robust liquidity, burn and buyback strategies, and unparalleled scalability. While Bitbot and Polygon offer solid performance and scalability, Moonbag crypto’s unique combination of high returns, strategic value-enhancing mechanisms, and the strength of Ethereum as its engine makes it a more lucrative and sustainable investment choice. Join the MoonBag presale for exponential financial growth Join The Presale Website: MoonBag.org Presale: MoonBag Presale Twitter: https://twitter.com/moonbag_org Telegram: https://t.me/moonbag_official

The post MoonBag Crypto Sets Sail for $1 with 2.2 Million Raised During Presale, Leaving Polygon’s Speed and BitBot’s Bots on the Shore appeared first on Blockonomi.

BlockDAG’s recent Keynote 2 event has ignited investor enthusiasm, predicting its coin could reach $10 by 2025 and soar to $30 by 2030. While Super Trump (STRUMP) experiences a downturn and JasmyCoin climbs, BlockDAG distinguishes itself with revolutionary advancements and a bright future trajectory. Having gathered over $49.5 million from its 18th presale batch at a current price of $0.0122, BlockDAG is on track to provide exceptional returns. Equipped with the X1 Miner App and a user-friendly low-code/no-code platform, BlockDAG is set to reshape the crypto market and deliver considerable value to its investors. Super Trump Encounters Challenges Amidst AI Meme Coin Craze  Super Trump (STRUMP) has seen a 9% decline, now trading at $0.02315, with its trading volume decreasing by 29% to $6.7 million. Despite stabilizing in April and May, STRUMP reached a high of $0.023 before falling to $0.010. Yet, it remains up 394% over the past two weeks, signaling potential resilience above its 50-day and 200-day SMAs. The RSI indicates a rising interest from investors. JasmyCoin Sets Sights on Notable Growth JasmyCoin (JASMY) leads the crypto rally, marking an 18% increase to $0.041 after a 61% growth in the past week. The breakout from an ascending triangle hints at a potential rise to $0.064. Though retracements to $0.032 and $0.028 might occur to close fair value gaps, JASMY’s bullish prospects are strong. The momentum is partly fueled by the expanding decentralized Physical Infrastructure Network (DePIN) sector, currently valued at $29 billion. Enthusiasm for JASMY’s strategic placement in the DePIN sector and future partnerships is high, with analysts predicting significant market advancements. BlockDAG’s Keynote 2 Ignites Exciting $10 Price Projections BlockDAG is gathering momentum, with forecasts showing its coin might hit $10 by 2025 and $30 by 2030, suggesting a potential 30,000x investment return. Accumulating over $49.5 million by its 18th presale coin batch, with a current price of $0.0122, BlockDAG is shaping up as a lucrative investment in the cryptocurrency market. The recent Keynote 2 event was crucial in boosting interest in BlockDAG, featuring more than 45 updates focused on blockchain improvements and global marketing strategies, emphasizing the project’s commitment to innovation and openness. BlockDAG’s Directed Acyclic Graph (DAG) technology was a highlight, enabling simultaneous operations that enhance scalability and security. This advanced approach allows for the concurrent confirmation of multiple transactions, offering high throughput and rapid confirmation times, setting BlockDAG apart in the competitive crypto landscape. Moreover, the event revealed BlockDAG’s low code/no-code platform, which democratizes the development of decentralized applications, enabling non-developers to participate in blockchain technology. This initiative expands the accessibility of blockchain technology, further solidifying BlockDAG’s position as a leader in decentralized innovation and providing an attractive investment opportunity for those seeking substantial returns. Key Insights BlockDAG’s strategic innovations and significant developments establish it as the prime investment option in the evolving cryptocurrency landscape. As Super Trump grapples with a price decline and JasmyCoin continues its expansion, BlockDAG’s thriving presale and pioneering DAG technology highlight its vast growth potential. For investors aiming for significant returns, BlockDAG presents an opportunity to lead the market with scalable solutions and user-oriented applications. Join BlockDAG Presale Now: Website: https://blockdag.network Presale: https://purchase.blockdag.network Telegram: https://t.me/blockDAGnetworkOfficial Discord: https://discord.gg/Q7BxghMVyu

The post BlockDAG’s Stellar Forecast: Outperforming Super Trump & JasmyCoin In 2024, With $49.5M Presale appeared first on Blockonomi.

Are you tired of new meme coins launching every other month in the crypto market? Well, it is a common occurrence now, and unfortunately, most of these coins are not worth your time. Even popular altcoins like VeChain and Solana can cause you to suffer heavy losses. However, the solution is often not far off; you just need to watch the latest launches and presales. The MoonBag crypto has entered the world of cryptocurrencies at just the right time and with the perfect features. The Ethereum-based meme coin is currently in the 5th stage of its presale and has established itself as one of the giants of the crypto realm. Let’s analyse VeChain and Solana’s performance and find out why investors are choosing MoonBag over the two. VeChain Promotes Sustainability with New Partnership While VET’s Decline Continues Oily, the community app by the UCO Network, has gone live on VeChain’s ecosystem. The app is designed to assist and reward people for making sustainable choices. With the partnership, VeChain aims to leave a positive impact on the planet. Unfortunately, the positive step from the blockchain did not positively affect the price of VET. The price of VeChain’s native coin has been in the red for a while now. After the Oily app news, VET lost 4.08% in value. As a result of the price decline, investors have turned to MoonBag to avoid losses. Solana and Entangle Work Towards Making Transactions Easier, But the Price of SOL Keeps Falling Entangle’s E-bridge now supports the Solana blockchain. The e-bridge was designed to improve the quality and speed of transactions on blockchains, improving user experience. Thanks to Entangle’s E-bridge, Solana users can now easily transfer funds between blockchains. However, the progress of the blockchain did not translate into the price chart of SOL. After the news from Entangle, SOL went on to lose 5.55% in value, leading investors to cash out in favour of a better investment opportunity. MoonBag Gets Crowned the Top Meme Coin Presale in 2024 Analysts to Predict $1 Per MBAG Investors have found the perfect investment opportunity in the face of the MoonBag crypto. The MoonBag presale sends shockwaves through crypto by breaking records left and right. The presale has already raised over $2.1 million and is racing towards the 6th stage. Currently, the presale is in the fifth stage where each MBAG coin is priced at $0.0002. Investors can enjoy an ROI of 900% at the official launch of MoonBag if they join the presale now. The ROI will jump to 1400% when MoonBag gets listed on exchanges. Due to MoonBag’s growing popularity, there are plenty of rumours in the crypto market about the coin’s future. According to one rumour, with analysts predicting MBAG to reach $1 by November 2024, more investors are rushing to join the MoonBag presale. Along with future predictions, strategies are in place to protect MBAG after launch. Out of all the funds raised during the presale, 20% will be used for liquidity and help with buyback and burn events after the official launch. The events will be held three to six months after the official launch of MoonBag and help increase the scarcity of MBAG coins. MoonBag Referral Programme MoonBag has an exciting referral programme you can join after buying MBAG coins with Metamask or Trust Wallet. You will get a referral code after your purchase to share with others. You will get 10% extra MBAG coins with every use of your code. You will also be eligible for monthly rewards. Keep an eye on the leaderboard every month to learn about the winners. Final Thoughts – The MoonBag Effect The crypto market may be plagued by all kinds of helpful and useless coins, but there’s always an exception that comes out at the right time. Those disappointed by VeChain and Solana can count on MoonBag to help them compensate for their losses. You can also be on the path to financial freedom by buying MBAG coins today! Invest in MoonBag Presale Website: MoonBag.org Presale: MoonBag Presale Telegram: https://t.me/moonbag_official Twitter: https://twitter.com/moonbag_org

The post Price Prediction of $1 Post-Launch Make MoonBag, the Top Meme Coin Presale in 2024, Pushing VeChain and Solana Investors to Rally Behind MBAG appeared first on Blockonomi.

Recent updates from Chainlink (LINK) show a bullish trend continuing despite a recent dip in price, underlining the importance of watching crucial support levels. Meanwhile, forecasts for Jasmycoin predict promising growth fueled by market interest and key partnerships. In the spotlight of the crypto market is the debut of BlockDAG’s X1 Miner Beta App, available now on Android and Apple devices, which has transformed the mining landscape with its easy-to-use interface and cutting-edge features. This innovation has accelerated the presale pace, with over 7500 miners sold, amassing $49.5 million and highlighting BlockDAG’s robust market impact and its promising future.   Chainlink’s Resilience in the Face of Market Dips Recent news around Chainlink indicates a price drop, yet it sustains a bullish outlook as long as it hovers above pivotal support levels. Amidst general market volatility, this update from Chainlink stresses the need to stay attuned to its price trends. Investors are encouraged to follow reliable sources of Chainlink news to grasp the currency’s market dynamics and forecasted trajectory. Jasmycoin Poised for Potential Uptick? The latest predictions for Jasmycoin suggest a positive trajectory thanks to growing market interest and strategic alliances. Market analysts point out that Jasmycoin could experience considerable growth if it maintains its current support levels. Keeping an eye on these trends and updates is crucial for investors seeking to make informed decisions based on the latest Jasmycoin forecasts. BlockDAG’s Presale Surge: Climbs to $49.5M BlockDAG has captured significant investor attention, mainly through launching and activating the X1 Miner Beta App. This app incorporates technological innovations that simplify and democratize the mining process, drawing a wide user base to BlockDAG’s ecosystem. The X1 Miner Beta App, now available for both Android and Apple users, marks a critical development milestone for BlockDAG. Phase 1’s completion includes the design of wireframes and UI, user onboarding, and presale functionalities. Users can now mine directly from their devices, invite peers, and boost their earnings before the mainnet launch. Future additions such as Wallet, Send/Receive modules, Leaderboard, and Community Section will further enrich the app’s functionality, making it a holistic mining tool. BlockDAG’s innovative hybrid consensus protocol enhances mining security, scalability, and efficiency, distinguishing it from its rivals. This breakthrough has propelled the presales, with over 7500+ miners sold, generating $3.2 million. In Batch 18, BlockDAG has a coin price of $0.0122 and has raised a total of $49.5 million, underscoring its substantial market presence and bright prospects. Final Verdict BlockDAG’s cutting-edge mining app has swiftly attracted a broad spectrum of potential miners. The beta version of the X1 Crypto Miner app has revolutionized the mining process, evidenced by the sale of over 7500 miners as BlockDAG progresses to Batch 18, gaining $49.5 million in presale. Unlike Chainlink’s fluctuating prices and Jasmycoin’s promising forecasts, BlockDAG’s robust app provides a stable and efficient mining solution, affirming its strong market position and readiness to outpace these competitors. Join BlockDAG Presale Now: Website: https://blockdag.network Presale: https://purchase.blockdag.network Telegram: https://t.me/blockDAGnetworkOfficial Discord: https://discord.gg/Q7BxghMVyu

The post BlockDAG’s Miner App Surpasses 7500 Sales With $3.2M Gained: How Do Chainlink and Jasmycoin Stack Up? appeared first on Blockonomi.

Bondex, an independent crowdsourcing recruitment app based out of the United Kingdom (UK), has secured a strategic investment from Animoca Brands, the company advancing digital property rights for gaming and the open metaverse, to fuel its platform, which hosts over 1.5 million monthly active users. 

Bondex puts a spotlight on recruitment referrals with a gamified, professional app focused not only on sourcing and managing talent or seeking opportunities, but also on providing referral rewards, incentivizing users to tap into their networks to refer suitable candidates for recruiters. The company launched in August 2021 and has already raised over $3 million in funding led by Chainlink, C2 Ventures, and more. 

Most of the new capital will be used to enhance the platform and its integration within Animoca Brands’ ecosystem as the project gears up for a token launch, with further expansion of the app throughout the year. 

With the strategic investment from Animoca Brands, Bondex is poised to further solidify its presence in the Web3 ecosystem and extend its reach to retail audiences. This strategic investment from Animoca Brands accompanies a series of significant announcements from Bondex, including a highly successful public sale on CoinList. Through the ‘CoinList Rewards Campaign,’ Bondex raised $6.5 million, attracting a record-breaking 20,000 participants. 

Animoca Brands is a global leader in gamification and blockchain with a large portfolio of over 400 investments in Web3 projects, and with the mission to advance digital property rights and contribute to building the open metaverse. The company and its various subsidiaries develop and publish blockchain games, traditional games, and other products. 

Yat Siu, the co-founder and executive chairman of Animoca Brands, commented: “Bondex is changing the game for future recruitment through Web3, enabling blockchain technology and the power of referrals to innovate against legacy platforms. We’re excited to be a part of that journey, and look forward to introducing the Web3 professional network across the Animoca Brands ecosystem.” 

Ignacio Palomera, founder and CEO of Bondex, shared his delight at the strategic investment and partnership with Animoca Brands, stating: “We’re thrilled to be able to reach broader horizons within the world of web3 and beyond, with the help of Animoca Brands. This is a significant milestone for Bondex, as well as for the web3 recruitment landscape overall. We’re excited to broaden networks through the wide arms of Animoca Brands, allowing us to reach more users with their help.”

Bondex has onboarded multiple recruiting partners onto its platform, with brands such as Binance, Blockchain.com, Chainlink, Ankr, and more actively hiring. The platform makes acquiring talent and getting hired easier for all parties involved while applying Web3 principles such as reward mechanisms to its business model. Palomera says it considers LinkedIn its most significant competitor because of the world’s largest database of passive candidates. Since 2021, Bondex has seen over 5 million downloads for its app, and with more than 1 million monthly active users, the company now aims to launch its native utility token later this year. 

“We’re delighted to onboard Animoca Brands not just as a strategic partner and investor but also as a recruiter on the platform,” says Bondex’s CEO Palomera. 

About Animoca Brands 

Animoca Brands, a Deloitte Tech Fast winner, a Fortune Crypto 40 company, and one of the Financial Times’ High Growth Companies Asia-Pacific 2023, is a Web3 leader that leverages blockchain to deliver digital property rights to consumers around the world to help establish the open metaverse.

The company develops and publishes a broad portfolio of products, including original games such as The Sandbox, PHANTOM GALAXIES, Life Beyond, and Crazy Defense Heroes, and products utilising popular intellectual properties from the worlds of sports and entertainment, such as The Walking Dead, Power Rangers, MotoGP, and Formula E.

It has multiple subsidiaries, including The Sandbox, Blowfish Studios, Quidd, GAMEE, nWay, Pixowl, Forj, Lympo, Animoca Brands Japan, Grease Monkey Games, Eden Games, Darewise Entertainment, Notre Game, TinyTap, Be., PIXELYNX, WePlay Media, and Gryfyn.

Animoca Brands is one of the most active investors in Web3, with a portfolio of over 400 Web3 investments, both directly and through Animoca Ventures, including Yuga Labs, Axie Infinity, Polygon, Consensys, Fireblocks, OpenSea, Dapper Labs, Yield Guild Games, Alien Worlds, and many more.

For more information, visit www.animocabrands.com or follow us on X (Twitter) or Facebook 

About Bondex

Bondex is web3’s fastest growing professional and social network with over 4.2 million app downloads and 1.5 million monthly active users. It connects web3 professionals, companies, and recruiters, offering rewards for engaging activities and successful job referrals. 

Media Contact 

Organization: Bondex

Contact Person: Paul Martin

Website:  https://bondex.app/

The post Bondex secure strategic investment from Animoca Brands appeared first on Blockonomi.

According to a recent survey of academic economists, the Federal Reserve is expected to reduce interest rates only once this year. This decision is influenced by persistent inflation, which is prompting the US central bank to modify its plans for lowering borrowing costs. If the rate cuts, this could trigger money inflow in the crypto market and trigger the bullish rally for Ethereum (ETH), Solana (SOL), and DTX Exchange.

In this article, we will talk about recent developments around Ethereum (ETH), Solana (SOL) and DTX Exchange.

World’s Largest Bank Calls Ethereum (ETH) Digital Oil

It’s great news for Ethereum (ETH) as well as the overall digital financial sector that the Industrial and Commercial Bank of China (ICBC), the largest bank in the world, has recently recognized the significance of Bitcoin and Ethereum. In their latest report, ICBC highlighted the crucial role these cryptocurrencies play in the evolving financial landscape.

The report specifically commends Ethereum for its ongoing improvements in security, scalability, and sustainability, which are powering the digital future. Bitcoin, on the other hand, was likened to gold due to its rapid expansion in our increasingly digital economy. Furthermore, Ethereum was described as “digital oil,” essential for driving various Web3 applications and programs across the expanding market.

Solana (SOL) Foundation Announces Removal Of Validators

The Solana (SOL) Foundation has taken action against validators involved in “sandwich attacks” by removing them from its network. This decision comes amid ongoing concerns and debates among developers and users, especially in light of recent charges by the Department of Justice against two individuals for similar misconduct on the Ethereum network. Although Solana’s market value dipped following the announcement, it swiftly bounced back.

For some time now, sandwich bots have been causing significant disruptions on the Solana (SOL) network. In response, the Solana (SOL) Foundation has expelled a number of validator operators from its delegation program for their role in these attacks, aiming to protect users and restore integrity to the network.

Potential Investment Opportunity With DTX Exchange

With the expected cut in rate, there is a higher possibility of an upmove in both Ethereum (ETH) and Solana (SOL). Still, these are already blue chip crypto, and the upside potential in these coins is less as compared to DTX Exchange.

DTX Exchange is a comprehensive trading platform that offers access to over 120,000 assets with up to 1,000 times leverage. It also guarantees complete anonymity since KYC checks are not required during registration.

The platform is powered by the DTX token, which brings several advantages to its holders. These benefits include priority customer support, the ability to vote on governance issues by staking tokens, and lower trading fees. These incentives have proven attractive, as millions of DTX tokens have already been sold.

DTX Exchange’s ongoing presale has successfully raised over $693,000 and is expected to hit $1 million by the end of June 2024. Additionally, early investors have already seen a 100% return on investment, a figure that is likely to rise as the presale continues.

Learn more:

Visit DTX Presale

Read Whitepaper

Join The DTX Community

The post Interest Rate Cuts Could Trigger Bullish Rally for Ethereum, SOL & DTX Exchange Investors appeared first on Blockonomi.

A crypto expert has predicted that Spot Ethereum ETFs will capture a staggering 20% of the investment flows directed towards Spot Bitcoin ETFs. This projected shift could have a significant impact on Ethereum (ETH) price, potentially pushing it to new all-time highs. Crypto investors looking to capitalize on this anticipated trend between Spot Bitcoin ETFs and Spot Ethereum ETFs can trade crypto ETFs and invest in other various tokenized ETFs through ETFSwap (ETFS).

Investors Turn To ETFSwap (ETFS) To Trade Spot Bitcoin ETFs And Spot Ethereum ETFs

ETFSwap (ETFS) is growing to become the number one cryptocurrency and ETF trading platform in the Decentralized Finance (DeFi) landscape. This platform has been making waves recently, as thousands of users and investors are now looking towards ETFSwap (ETFS) for advanced trading opportunities in Spot Bitcoin ETFs and Spot Ethereum ETFs.

ETFSwap (ETFS) is a tokenized platform that acts as a gateway for users to buy and trade institutional tokenized ETFs. These ETFs encompass cryptocurrency spot and futures ETFs and extend to commodity ETFs such as silver, gold, and oil and fixed-income ETFs like bonds and treasuries. As a Decentralized Exchange (DEX), ETFSwap (ETFS) leverages blockchain technology to facilitate most of its trading operations and cryptocurrency transactions. This also helps to improve the platform’s anonymity, transparency and overall functionality.

Just as its name suggests, ETFSwap (ETFS) allows users to ‘swap’ cryptocurrencies for tokenized institutional ETFs. This platform offers advanced trading features to help both experienced and novice investors streamline their trading operations.

ETFSwap (ETFS) provides efficient ETF management services, 24/7 risk management benefits, a highly user-friendly and intuitive platform, lower trading fees and 24-hour trading time. Additionally, ETFSwap (ETFS) provides special incentives for investors and users, including up to 10x leverage on all trades, automatic monthly token airdrops, an 87% APR yield and up to 50x leverage for perpetual futures and options trading.

In order to bolster its platform’s security, ETFSwap (ETFS) has undergone an audit by CyberScope, a highly recognised cybersecurity and audit firm within the crypto space. The audit results highlighted ETFSwap’s powerful smart contracts and robust security measures against cyber threats. Moreover, ETFSwap (ETFS) prioritizes user privacy by terminating KYC requirements, ensuring users can trade anonymously without giving up personal information.

The ETFSwap ecosystem’s powerhouse is its native token, ETFS. The ETFS tokens grant investors exclusive benefits within the ecosystem, offering them staking options and rewards, as well as voting rights within its governance.

Investors can purchase ETFS tokens in ETFSwap’s ongoing second presale stage at a modest price of $0.01831. Buying tokens early increases investors’ chances of generating maximum returns. Additionally, it also opens up access to trade Spot Bitcoin ETFs and Spot Ethereum ETFs.

Spot Ethereum ETFs Will Absorb 20% Of Spot Bitcoin ETFs, Expert Says

Bitfinex head of derivatives, Jag Kooner has forecasted that Spot Ethereum ETFs will capture between 10% to 20% of the flows attracted by Spot Bitcoin ETFs. The crypto expert cited a correlation between gold ETFs and silver ETFs.

He noted that after the introduction of gold ETFs, significant inflows had moved into this ETF, with SPDR Gold Trust (GLD) spearheading the gold ETF trading market. However, following the launch of silver ETFs a few years later, many investors diverted their funds into these ETFs, increasing demand for silver and, as a result bolstering its value.

Kooner has revealed that this trend may hold for Spot Bitcoin ETFs and Spot Ethereum ETFs. He disclosed to The Block that Spot Ethereum ETFs could see fund managers reallocating their assets to potentially balance their exposure for both Bitcoin (BTC) and Ethereum (ETH).

If this occurs, Ethereum (ETH) could potentially surpass its current price of $3,666, according to CoinMarketCap. This trend could also potentially mirror Bitcoin’s surge to new all-time highs following the launch of its Spot ETF.

Conclusion On Spot Bitcoin ETFs Into Spot Ethereum ETFs

With new forecasts indicating that 20% of Spot Bitcoin ETF inflows could potentially move into Spot Ethereum ETFs, investors can take advantage of this strategic opportunity to enter the burgeoning crypto ETF market using innovative platforms like ETFSwap (ETFS).

ETFSwap (ETFS) has already attracted over 10,000 new users who are eagerly waiting for its launch to trade tokenized ETFs. The beta platform is set to release between 30 to 45 days. Moreover, ETFSwap’s presale is still ongoing, so investors can purchase tokens at a discounted rate before the value of each token rises to $0.03846 by the next stage.

For more information about the ETFS Presale:

 Visit ETFSwap Presale

Join The ETFSwap Community

The post Experts Say Spot Ethereum ETFs Will Capture 20% Of Spot Bitcoin ETFs Flows – What This Means For ETH Price appeared first on Blockonomi.

Shiba Inu’s (SHIB) volatility has decreased as whales strategically position themselves for potential market moves. This stabilisation could signal new opportunities for traders. Meanwhile, Hedera’s (HBAR) price shows volatility amid a significant drop in open interest, reflecting market caution. Against this backdrop, BlockDAG has surged to prominence, topping CoinSniper’s presale listings. This ascent is highlighted by a dramatic increase in presale performance, with the coin price in its 18th batch showing a significant 1120% increase from its initial batch. BlockDAG exhibits the potential of a standout investment heading into 2024, driven by robust global strategies and market penetration. Shiba Inu’s Volatility Drops as Whales Strategize Shiba Inu’s volatility has significantly decreased, sparking speculation that large cryptocurrency holders, or whales, are positioning for a major market move. This stabilisation phase could indicate strategic accumulation by these influential investors. Shiba Inu’s volatility dropping may signal an upcoming market shift, creating potential opportunities for traders. Market watchers closely monitor this trend, as Shiba Inu’s volatility remains a key factor in anticipating future price movements and investment strategies in the cryptocurrency market. Hedera Price Trends Amid Open Interest Decline The recent decline in Hedera’s open interest (OI) might reflect its current price trend. Hedera’s price has shown volatility despite a significant OI drop. This fluctuation indicates potential market caution among traders. Observing these trends, Hedera’s price could remain unpredictable, influenced by shifts in investor confidence and broader market dynamics. Such movements in Hedera price are crucial for investors considering its long-term stability and growth potential. BlockDAG Nears $50M Presale Dominates CoinSniper with Global Events

BlockDAG’s journey to the top of CoinSniper’s presale lists has been nothing short of spectacular, driven by its explosive global presence and innovative outreach. With high-profile events like the Keynote 2 on the Moon to the Piccadilly Circus and the vibrant DAGpaper celebration in Las Vegas, BlockDAG has captured the global audience’s imagination. These strategic appearances also include an electrifying original Keynote streaming at Shibuya Crossing in Japan, significantly amplifying BlockDAG’s market visibility and appeal.

The global events have heightened public appeal, igniting BlockDAG’s technical prowess and ambitious future plans. This has translated into frenzied anticipation among investors, further fuelled by BlockDAG’s remarkable performance in presales. With an 1120% surge in coin price from the first batch, BlockDAG’s trajectory in the crypto investment space is a compelling narrative of success and potential. Now in its 18th batch with a coin price of $0.0122 and over 11.4 billion coins sold, BlockDAG presale coin crosses $49.3 Million and is ready to hit $50 million. BlockDAG’s dominance on the presale lists of CoinSniper is a testament to its global strategy and market penetration. Such milestones reinforce the network’s position and promise a robust growth outlook for 2024, making it a top pick for investors looking for high returns. Final Verdict The cryptocurrency market is allured by the success of BlockDAG since the surge to the top of CoinSniper’s presale listings. This is fueled by a monumental presale that has now surpassed $49.3 million. This surge is highlighted by 1120% increase in coin price from the first batch, setting BlockDAG apart as the leading contender for explosive growth in 2024. This dominant performance, eclipsing the fluctuations in Shiba Inu volatility and Hedera price, highlights BlockDAG’s potential as the standout crypto to explode in the coming year. Invest in the BlockDAG Presale Now: Presale: https://purchase.blockdag.network Website: https://blockdag.network Telegram: https://t.me/blockDAGnetwork Discord: https://discord.gg/Q7BxghMVyu

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Phoenix, United States, June 13th, 2024, Chainwire

Devour, the leading web3-powered food ordering platform, announced today that it’s simplifying crypto payments for millions of users with the integration of Coinbase Commerce into its DevourGO checkout. This innovative move allows crypto enthusiasts to seamlessly pay for their favorite meals using their existing Coinbase.com or Wallet accounts, all within the DevourGO app.

“We’re excited to partner with Coinbase Commerce to make crypto spending on food effortless for millions,” said Shelly Rupel, CEO of Devour. “This integration unlocks a massive opportunity – crypto holders can now enjoy food delivery while paying with the ease of their Coinbase account. It’s a win-win for both sides, offering crypto users the convenience they crave and restaurants a new way to tap into a growing and tech-savvy customer base.”

DevourGO leverages the power of web3 technology to create a more engaging and rewarding dining experience for both consumers and restaurants. Empowering food ordering and engagement beyond the traditional apps — in-game, in-entertainment and in-digital communities! With the addition of Coinbase Commerce, DevourGO unlocks a new level of convenience and accessibility for millions of crypto enthusiasts.

“Coinbase Commerce was created to provide new and more accessible avenues for businesses and consumers to transact with crypto,” said Lauren Dowling, Group Product Manager, Coinbase Commerce and Onramp. “We are pleased to integrate with DevourGO and provide convenient, seamless, and a borderless customer experience for restaurants and crypto enthusiasts.”

Benefits of the DevourGO and Coinbase Commerce Integration:

Convenience for Crypto Users: DevourGO users can now pay for their food orders directly with their crypto holdings, eliminating the need to convert to fiat currency.

Increased Revenue for Restaurants: Restaurants using DevourGO can tap into a new customer base of millions of crypto enthusiasts who are eager to spend their digital assets.

Effortless Checkout: Pay for food directly from your Coinbase account, eliminating the need for multiple logins or complex processes.

How it Works:

Users place their food order through the DevourGO platform.

At checkout, users select Coinbase Commerce as their payment method.

Users are directed to their Coinbase.com or Wallet account to complete the transaction.

Once the transaction is confirmed, the user’s order is processed by DevourGO and sent to the restaurant.

About Devour

Devour is a trailblazing platform that transforms the digital dining experience, uniquely integrating food ordering into the gaming and streaming worlds for Gen Z. It’s more than an app; it’s an innovative ecosystem where games, entertainment, and food converge. With the Devour Platform, we’re tapping into the lifestyles of over 200 million U.S. gamers, offering a seamless blend of entertainment and convenience. Learn more at devour.io.

About Coinbase

Crypto creates economic freedom by ensuring that people can participate fairly in the economy, and Coinbase (NASDAQ: COIN) is on a mission to increase economic freedom for more than 1 billion people. We’re updating the century-old financial system by providing a trusted platform that makes it easy for people and institutions to engage with crypto assets, including trading, staking, safekeeping, spending, and fast, free global transfers. We also provide critical infrastructure for onchain activity and support builders who share our vision that onchain is the new online. And together with the crypto community, we advocate for responsible rules to make the benefits of crypto available around the world.

For media inquiries or to request an interview with CEO Shelly Rupel, users can contact Leah Smith at press@devour.io

Contact

CMO
Leah Smith
Devour
press@devour.io

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TLDR

The price of Curve DAO token (CRV) fell by nearly 30% in the past 24 hours, trading at around $0.26.

Curve Finance founder Michael Egorov faced liquidation on his on-chain loan positions, as he used CRV tokens as collateral.

Egorov has over 111 million CRV tokens ($33.87 million) as collateral and $20.6 million in debt across four DeFi platforms: Inverse, UwU Lend, Fraxlend, and Curve’s LlamaLend.

Egorov has started repaying borrowed stablecoins to mitigate further liquidation risks, but additional liquidations worth over $5 million occurred on UwU Lend.

The decentralized finance (DeFi) space has been rocked by the recent plunge in the price of Curve DAO token (CRV), which has fallen by nearly 30% in the past 24 hours.

The sharp decline in CRV’s value has been linked to the liquidation of on-chain loan positions held by Curve Finance founder Michael Egorov, who used CRV tokens as collateral.

According to data from blockchain analytics firms Lookonchain and Arkham, Egorov currently has 111.87 million CRV tokens, worth approximately $33.87 million, as collateral against $20.6 million in debt across four DeFi platforms: Inverse, UwU Lend, Fraxlend, and Curve’s LlamaLend. As the price of CRV continues to fall, Egorov’s loan positions are facing increased liquidation risk.

The #Curvefi founder(Michale Egorov) is being liquidated!

He currently has 111.87M $CRV ($33.87M) in collateral and $20.6M in debt on 4 platforms.https://t.co/WM1nW8JKwU pic.twitter.com/huwgetBXuS

— Lookonchain (@lookonchain) June 13, 2024

Earlier on Thursday, Egorov began to face liquidations on his position with Inverse, prompting him to take measures to mitigate further risks.

On-chain data shows that the Curve founder has started repaying borrowed stablecoins, such as DOLA, to maintain his loan health. However, despite these efforts, Egorov’s loan positions for USDT and DAI stablecoins on UwU Lend saw additional liquidations worth over $5 million.

Curve price at Coingecko

The recent developments have raised concerns among investors about the future of the Curve Finance project and the potential impact on the broader DeFi ecosystem.

CRV is used as a trading pair and ballast in various trading pools across the DeFi space, and the liquidation of such a large position has started to put pressure on other protocols.

In August 2023, Egorov sold 106 million CRV tokens for $46 million in an attempt to reduce potential liquidation risks associated with his outstanding debt across various DeFi platforms. However, the current situation suggests that the founder’s financial troubles persist.

The post Curve DAO Token (CRV) Price Plunges 30% Amid Founder’s Liquidation appeared first on Blockonomi.

TLDR

UwU Lend, a DeFi lending protocol, suffered another hack, losing approximately $3.5 million to $3.7 million, just days after a previous $20 million exploit.

The ongoing exploit targeted multiple asset pools, including uDAI, uWETH, uLUSD, uFRAX, uCRVUSD, and uUSDT, with the stolen funds being converted to Ethereum.

The attack occurred during the reimbursement process for the previous hack victims, with UwU Lend having already repaid over $9.7 million in bad debt.

The initial exploit was caused by price manipulation, while the latest exploit is a consequence of the attacker holding sUSDE tokens gained from the first attack.

UwU Lend’s total losses from both hacks amount to around $23 million, causing a significant decline in the value of its governance token, UWU.

UwU Lend, a decentralized finance (DeFi) lending and liquidity protocol, has fallen victim to yet another significant security breach, just days after suffering a $20 million exploit.

The latest attack, which occurred on June 13, 2024, has resulted in an additional loss of approximately $3.5 million to $3.7 million, bringing the total losses to around $23 million within a single week.

The ongoing exploit targeted multiple asset pools within the UwU Lend protocol, including uDAI, uWETH, uLUSD, uFRAX, uCRVUSD, and uUSDT.

The stolen funds, amounting to roughly $3.5 million, have been converted to Ethereum (ETH) and are currently held in the attacker’s wallet address, “0x841dDf093f5188989fA1524e7B893de64B421f47.”

????ALERT????@UwU_Lend has suffered another security breach by the same attacker!

Total loss: $3.7M
Affected pools: uDAI, uWETH, uLUSD, uFRAX, uCRVUSD, uUSDT
All stolen assets have been converted to $ETH and are located at the attacker's address: https://t.co/9TvwLh18P1

To learn… https://t.co/AjcMS1Cdyl

— ???? Cyvers Alerts ???? (@CyversAlerts) June 13, 2024

The attack took place during the reimbursement process for victims of the previous $20 million exploit. UwU Lend had already repaid over $9.7 million in bad debt, including 481.36 wETH worth more than $1.7 million for the Wrapped Ether (wETH) market alone.

The initial exploit, which occurred on June 10, was caused by price manipulation. The attacker used a flash loan to swap USDe for other tokens, leading to a lower price of Ethena USDe (USDE) and Ethena Staked USDe (SUSDE).

By depositing the tokens to UwU Lend and lending more SUSDE than expected, the attacker drove the USDE price higher, ultimately stealing nearly $20 million in tokens.

According to CertiK, a crypto security firm, the latest exploit is not due to the same vulnerability but rather a consequence of the first attack. The attacker gained a significant number of sUSDE tokens from the initial exploit and, despite the protocol being paused, UwU Lend still considered sUSDE as legitimate collateral.

This oversight allowed the attackers to exploit the remaining sUSDE and drain the remaining pools.

The series of hacks has had a significant impact on UwU Lend’s governance token, UWU, which has shed 14.5% of its value over the past seven days and 81% in the past year, now holding a market cap of just $26 million.

The post A Bad Week as UwU Lend Suffers Second Hack: Losing Additional $3.5M appeared first on Blockonomi.

TLDR

Riot Platforms claims the “poison pill” adopted by Bitfarms to protect itself from takeover attempts is in conflict with legal and governance standards.

Riot will continue to address the “serious corporate governance issues” at Bitfarms despite the recently adopted “poison pill.”

Bitfarms defended its decision, stating that the shareholder rights plan was unanimously approved by the board to preserve the integrity of its strategic alternatives review process.

Riot Platforms currently holds 13.1% of Bitfarms’ shares and recently signaled its intention to acquire all of Bitfarms’ issued and outstanding common shares for $950 million.

Bitfarms believes Riot’s interests are not aligned with those of its shareholders and that Riot is attacking its board and corporate governance to push its “low-ball bid.”

The ongoing battle for control between Bitcoin mining companies Riot Platforms and Bitfarms has intensified, with Riot claiming that Bitfarms’ recently adopted “poison pill” conflicts with established legal and governance standards.

The shareholder rights plan, commonly known as a “poison pill,” was implemented by Bitfarms to protect itself from takeover attempts, particularly from Riot Platforms.

In a press release on June 12, 2024, Riot Platforms stated that the decision made by Bitfarms is “further evidence of the Bitfarms board of directors disregarding good corporate governance.”

The Colorado-based company pledged to continue addressing the “serious corporate governance issues” at Bitfarms, despite the adoption of the “poison pill.”

#Bitfarms Issues Statement re: Riot’s Comments & Actions

• Board is committed to maximizing shareholder value & continues to welcome Riot in strategic alternatives review
• Shareholder Rights Plan preserves integrity of process
• Riot’s interests are not aligned with BITF…

— Bitfarms (@Bitfarms_io) June 13, 2024

Riot Platforms CEO Jason Les emphasized the company’s commitment to ensuring that Bitfarms’ shareholders have a say in the company’s future direction.

Les also highlighted the recent decision by Bitfarms’ board to vote out the company’s co-founder Emiliano Grodzki, less than two weeks ago, as an indication of internal discontent.

In response to Riot’s accusations, Bitfarms defended its decision to adopt the shareholder rights plan.

The Canadian Bitcoin mining firm asserted that the plan was unanimously approved by the board to “preserve the integrity” of its strategic alternatives review process and is “in the best interests of all Bitfarms’ shareholders.”

The dispute between the two companies began when Riot Platforms, which currently holds 47,830,440 common shares, representing 13.1% of Bitfarms’ shares, signaled its intention to acquire all of Bitfarms’ issued and outstanding common shares for $950 million.

Under the “poison pill” plan, Bitfarms would issue additional shares to dilute an investor’s stake if an entity aims to hold 15% or more of the firm’s shares.

Bitfarms believes that Riot’s interests are not aligned with those of its shareholders and accused the company of attempting to undermine the integrity of the acquisition process.

The Canadian firm stated that Riot is “attacking Bitfarms’ Board and corporate governance in an effort to push its low-ball bid and disrupt the Strategic Alternatives Review Process.”

The post Poison Pill: Bitfarms Defends Shareholder Rights Plan Amid Riot’s Accusations appeared first on Blockonomi.

TLDR

Paxos, a stablecoin issuer, has laid off 65 employees, representing about 20% of its workforce.

The layoffs come as Paxos focuses on launching and scaling new regulated tokens, particularly in the areas of tokenization and stablecoins.

Paxos lost a significant source of revenue when it stopped issuing the Binance-branded BUSD stablecoin due to regulatory pressure.

Despite the layoffs, Paxos claims to be in a strong financial position with more than $500 million on its balance sheet.

Paxos plans to phase out its settlement services in commodities and securities to concentrate more on asset tokenization and stablecoins.

Paxos, a prominent stablecoin issuer, has announced a significant reduction in its workforce, laying off 65 employees, which amounts to approximately 20% of its staff.

The decision, communicated to employees via an email from CEO Charles Cascarilla, comes as the company shifts its focus towards launching and scaling new regulated tokens, particularly in the areas of tokenization and stablecoins.

The layoffs occur at a challenging time for Paxos, as the company recently lost a major source of revenue when it was forced to stop issuing the Binance-branded BUSD stablecoin due to pressure from U.S. regulators.

The BUSD stablecoin, which had a market cap of $16 billion at its peak, was phased out in early 2023 after the New York Department of Financial Services intervened.

Despite the setback, Paxos remains optimistic about its future prospects. In the email to employees, Cascarilla emphasized that the company is in a “very strong financial position to succeed,” with more than $500 million on its balance sheet.

He added that the reduction in headcount “allows us to best execute on the massive opportunity ahead in tokenization and stablecoin.”

Paxos currently issues a stablecoin branded by PayPal and offers the Lift Dollar (USDL) through one of its affiliates in the United Arab Emirates.

The company’s focus on regulated stablecoins and tokenization is expected to drive growth in the coming years, with Cascarilla stating that “stablecoins will 10x in the coming years and serve as the fulcrum for opening the financial system through tokenization.”

As part of its strategic shift, Paxos plans to gradually phase out its settlement services in commodities and securities. These services, which had been used for transactions worth more than $10 trillion and over 7.8 million transactions, will be discontinued to allow the company to concentrate more on asset tokenization and stablecoins.

Paxos has offered affected employees a comprehensive severance package, including 13 weeks of severance pay, three months of subsidized health insurance, three months of outplacement support, and a two-year extension to exercise vested options.

The company has also provided second-quarter bonuses to those who were on a quarterly incentive program and payments and benefits to anyone with approved parental or medical leave.

The post Paxos Remains Financially Strong Despite Layoffs, CEO Says appeared first on Blockonomi.

TLDR

IOTA Foundation’s Web3 Identification Solution, developed with partners, has been selected for the European Blockchain Sandbox.

The solution tokenizes identification processes, allowing users to verify identity in Web3 while maintaining control over personal data.

Users undergo remote identification with IDnow, which is tokenized by walt.id and stored in the Bloom wallet as a soulbound token.

The token can be recognized by Web3 dApps and services to confirm user identity without revealing personal information.

HAVN Network provides the dedicated EVM-compatible KYC chain infrastructure anchored to the Shimmer network.

The IOTA Foundation, in collaboration with walt.id, IDnow, Bloom Wallet, and HAVN, has developed a groundbreaking Web3 Identification Solution that has been selected for the European Blockchain Sandbox.

This initiative, launched by the European Commission in 2023, provides a controlled environment for testing and validating innovative distributed ledger technology (DLT) solutions while engaging with regulators from across the EU.

The Web3 Identification Solution aims to revolutionize traditional Know-Your-Customer (KYC) processes, which have long been hindered by inefficiencies, high costs, and data privacy concerns.

By leveraging DLT and tokenization, the solution enables users to maintain control over their personal data while providing a seamless and privacy-preserving way to identify themselves in Web3 environments.

The identification process begins with users undergoing a remote identification with IDnow, a leading identity verification platform provider in Europe.

This process complies with EU Anti-Money Laundering (AML) and KYC requirements. The identification is then tokenized by walt.id, a prominent provider of open-source decentralized identity and wallet infrastructure, and stored in the user’s Bloom wallet as a soulbound token.

The soulbound token can be recognized by Web3 dApps and other services to confirm the user’s identity without revealing personal information.

This reusable token eliminates the need for repetitive identification processes, enhancing user experience and privacy.

If requested by an authorized party, the identity information can be revealed, and the token can also be revoked.

The identity information can be issued in the W3C Verifiable Credential format for permissionless sharing in off-chain use cases.

HAVN Network, a specialist in integrating hybrid blockchain technologies, provides the dedicated EVM-compatible KYC chain infrastructure anchored to the Shimmer network. This enables efficient interchain communication and transaction validation while ensuring regulatory compliance.

Being selected for the European Blockchain Sandbox is a significant milestone for the Web3 Identification Solution, as it opens the door to regulatory discussions about KYC and privacy in a Web3 environment. This is particularly relevant given the increasing interest of regulators in decentralized finance (DeFi).

The post IOTA Foundation’s Web3 ID Solution Selected for European Blockchain Sandbox appeared first on Blockonomi.

TLDR

The SEC has reached a $4.47 billion settlement with Terraform Labs and its founder, Do Kwon, for defrauding investors in the collapse of TerraUSD and Luna tokens.

The settlement includes $4.05 billion in disgorgement and interest, a $420 million civil fine for Terraform Labs, and an $80 million civil fine for Do Kwon.

Do Kwon is required to send $204.3 million to Terraform’s bankruptcy estate and is banned from crypto transactions.

In 2022, Terraform Labs’ tokens collapsed, losing $40 billion in value and severely impacting the crypto ecosystem.

Terraform Labs plans to dissolve its operations, and CEO Chris Amani has asked the community to take over the Terra network.

The U.S. Securities and Exchange Commission (SEC) has reached a $4.47 billion settlement with Terraform Labs and its founder, Do Kwon, for defrauding investors in the collapse of TerraUSD (UST) and Luna tokens.

The proposed final judgment, filed in the Manhattan federal court on June 12, 2024, is pending approval from U.S. District Judge Jed Rakoff.

Under the terms of the settlement, Terraform Labs is expected to pay $4.05 billion in disgorgement and interest, along with a $420 million civil fine.

Do Kwon, the co-founder and former CEO of the Singapore-based cryptocurrency firm, has been imposed an $80 million civil fine and is required to send $204.3 million to Terraform’s bankruptcy estate. Additionally, Kwon has agreed to a ban on crypto transactions.

The SEC’s decision comes after a New York civil jury found Do Kwon liable for defrauding investors by false pretense in April 2024. The judgment aims to ensure maximum return of funds to harmed investors and put Terraform Labs out of business permanently.

The SEC maintains that Terraform Labs is still in control of hundreds of millions of dollars from the Terra ecosystem.@tikta_ reportshttps://t.co/pwuaumPlGp

— Laura Shin (@laurashin) June 13, 2024

In 2022, Terraform Labs’ tokens, TerraUSD (UST) and Luna, collapsed, losing $40 billion in value and severely impacting the entire crypto ecosystem. UST, a stablecoin pegged to the U.S. dollar, was designed to maintain its value through an algorithm that transacted with Luna.

However, in May 2022, the market experienced a massive sell-off, causing the stablecoin to de-peg from the USD and lose 99.9% of its value in less than a week.

Following the settlement, Terraform Labs’ CEO, Chris Amani, announced that the firm plans to dissolve its operations and urged the community to take over the reins of the Terra network. Amani stated that Terraform Labs intends to sell its projects in the Terra ecosystem, including Pulsar Finance, Station Wallet, and Enterprise DAO.

He also proposed a community-led initiative to burn all unvested Luna tokens, with any remaining vested tokens in Terraform Labs’ wallets to be burned by the company.

The SEC’s charges against Terraform Labs and Do Kwon, initially filed in February 2023, accused them of misleading investors and violating federal securities laws by engaging in fraudulent activities related to the sale of unregistered securities.

The settlement not only imposes financial penalties but also prohibits Kwon from serving as an officer or director of any public company.

The post SEC Reaches $4.47 Billion Settlement with Terraform Labs and Do Kwon appeared first on Blockonomi.

TLDR

The SEC’s approval of a Spot Ethereum ETF boosted market confidence and drove a rebound in cryptocurrency assets, along with strong performance in U.S. stocks and tech stocks.

Stablecoin issuance showed mixed trends, with notable declines in USDC and FDUSD, while USDe reached a new high. The varying acceptance of different stablecoins suggests further evolution in the stablecoin market.

ETH Layer 2 solutions showed diverging trends, with Layer 2 TVL denominated in ETH declining despite ETH’s price increase. New narratives around MEME coins and restaking are gaining traction over the previous focus on high performance and low fees.

Large crypto projects are implementing stricter Sybil attack screening measures to ensure token distributions reach users who will contribute to ecosystem development rather than just seek to maximize profits.

U.S. lawmakers passed the “Financial Innovation and Technology for the 21st Century Act” to establish a regulatory framework for digital assets, though full implementation may take significant time. Other key policy developments occurred in Hong Kong and Türkiye.

The cryptocurrency market showed signs of revival and maturation in May 2024, driven by key regulatory developments, shifting market dynamics, and the rising prominence of new technologies and trends, according to the latest report from KuCoin Research.

One of the most significant boosts to market confidence came from the U.S. Securities and Exchange Commission (SEC), which unexpectedly approved a Spot Ethereum ETF.

This landmark decision, alongside strength in the broader U.S. stock market and surging interest in tech and AI-related stocks, helped propel a rebound across major cryptocurrency assets.

However, the recovery was not uniform across all sectors. In the stablecoin market, total issuance of fiat-collateralized stablecoins stagnated, weighed down by declines in USDC and FDUSD.

At the same time, USDe issuance hit a new high, surpassing FDUSD. The diverging trends suggest that the stablecoin market is undergoing further evolution as users and platforms demonstrate varying levels of acceptance for different stablecoin offerings.

The Ethereum Layer 2 ecosystem also presented a mixed picture. While the price of ETH posted a double-digit monthly gain, the total value locked (TVL) in ETH Layer 2 solutions denominated in ETH actually fell, indicating that activity and enthusiasm did not match the rising prices.

Bucking the trend were Layer 2 platforms like Base and Linea, which continued to attract inflows.

Meanwhile, the previously popular narratives around high-performance blockchains and low fees appeared to be losing steam, with market participants instead turning attention to MEME coins and “restaking” models offering steady returns.

In an effort to direct token distributions to users most likely to contribute to long-term ecosystem growth, major crypto projects intensified efforts to weed out Sybil attackers and “farming” schemes designed to maximize airdrop rewards.

LayerZero Labs introduced a novel “Self-Report Sybil Activity” program incentivizing users to report suspicious activity.

The KuCoin Research report also highlighted the rise of “Tap To Earn” and mini-game models within the TON ecosystem, led by standout projects like Notcoin demonstrating the power of integrating Web3 technology with community-building.

On the regulatory front, the U.S. House of Representatives passed the sweeping “Financial Innovation and Technology for the 21st Century Act” aiming to establish a comprehensive framework for digital assets.

However, full implementation is expected to be a lengthy process requiring coordination between multiple agencies.

Other notable policy developments included Hong Kong granting licenses to 11 Virtual Asset Service Providers and Türkiye preparing legislation to tighten oversight of cryptocurrency trading and implement taxation.

While the number and total amount of venture funding deals edged down slightly from April, overall investment remained elevated compared to 2023 levels, with continued interest in key areas like liquid staking derivatives, modular blockchain designs, and Layer 2 scaling solutions.

The post Kucoin Report: Ethereum ETF, Stablecoin Issuance, Layer 2 Trends, Sybil Attacks & More appeared first on Blockonomi.

TLDR

Supra, a Layer-1 blockchain, launches the “Super dApp Showdown” competition with a $100M Ecosystem Fund.

Season One of the competition starts in August 2024, with judges from Supra, Google Cloud, Republic Crypto, Hashkey Capital, and the TV show Killer Whales.

Developers can build “Super dApps” on Supra’s L1 network and compete for investments from the Ecosystem Fund.

Winning teams will be featured on Supra’s community platform “Project Blast Off” and have the chance to appear on Killer Whales.

Supra’s L1 offers high performance, Multi-VM support, integrated oracles, VRF, bridges, and automation features.

Supra, a fully integrated Layer-1 blockchain, has announced the launch of its “Super dApp Showdown” competition, inviting skilled blockchain developers to build and deploy innovative applications on its high-performance network.

The competition, set to begin in August 2024, will offer participants the chance to compete for investments from Supra’s newly established $100 million Ecosystem Fund.

The Super dApp Showdown aims to showcase the capabilities of Supra’s powerful Layer-1 network, which boasts Multi-VM support, in-protocol oracles, verifiable randomness generators (VRF), bridges, and automation features.

By providing developers with a comprehensive set of tools on a single chain, Supra hopes to foster the creation of a new generation of “Super dApps.”

Season One of the competition will run for three months, with 12 winners to be selected by a panel of judges across various categories such as DeFi, GameFi, and Web3 Social.

The judging panel will include representatives from Supra’s leadership team, well-known “whales” from the reality TV show Killer Whales, and experts from key ecosystem partners like Google Cloud, Republic Crypto, and HashKey Capital.

The judging process will also consider feedback from Supra’s community, who will be invited to vote on their favorite Super dApps.

For developers, the Super dApp Showdown presents a unique opportunity to gain exposure to Supra’s highly-engaged audience of over 500,000 verified token holders on their gamified community platform “Project Blast Off,” as well as a broader community of 1.3 million email subscribers.

Each week, a winning team’s Super dApp will be featured on the Blast Off platform, with missions and quests designed to help users learn about the project. Builders can choose the nature of the rewards offered, such as prizes, airdrops, in-game assets, or NFTs.

Supra’s Layer-1 network is powered by the Moonshot consensus mechanism, which has demonstrated impressive performance in advanced global testing, processing 530,000 transactions per second across 125 globally distributed nodes, with 500-millisecond optimistic finality and ~1.5–2 seconds full finality.

The blockchain is vertically integrated with the Distributed Oracle Agreement (DORA) protocol and Supra’s decentralized VRF to ensure real-time data accessibility and transparency in random outcomes for various use cases.

Winners of the Super dApp Showdown will receive investments from the $100M Ecosystem Fund, the opportunity to appear on Killer Whales and pitch their ideas to top investors in the crypto industry, consultations with Supra’s team, free access to Supra’s core services, zero-fee access to a token launch platform, cross-promotion and marketing support, and networking opportunities with an extensive ecosystem of VCs and partners.

Supra plans to host the Super dApp Showdown on an ongoing basis, with new seasons launching every three months, providing ample opportunities for teams to showcase their projects to one of the fastest-growing communities in Web3.

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