As I said, TON relies on the users in Telegram’s ecosystem .Destined to bring huge growth and breakthroughs to the TON ecosystem recently. Currently, TON's defi and gamefi are booming like never before, and the liquidity development of the defi ecosystem is inseparable from stablecoins. With the increase in Telegram’s crypto users, there will undoubtedly be a spring for online payments on Telegram based on TON. However, as a WEB3 research developer, it is difficult to give a good evaluation of the chaotic version management, address management . Terrible experience for new developers in the TON ecosystem. Fortunately, the TON Foundation and community development groups have been working hard to improve the development experience in years. With the development of defi ecology and gamefi ecology, TON will also become a super window for web2 users to enter web3. Can't wait to see that . #TON #Solana #Airdrops
As I said, TON relies on the users in Telegram’s ecosystem .Destined to bring huge growth and breakthroughs to the TON ecosystem recently. Currently, TON's defi and gamefi are booming like never before, and the liquidity development of the defi ecosystem is inseparable from stablecoins. With the increase in Telegram’s crypto users, there will undoubtedly be a spring for online payments on Telegram based on TON. However, as a WEB3 research developer, it is difficult to give a good evaluation of the chaotic version management, address management . Terrible experience for new developers in the TON ecosystem. Fortunately, the TON Foundation and community development groups have been working hard to improve the development experience in years. With the development of defi ecology and gamefi ecology, TON will also become a super window for web2 users to enter web3. Can't wait to see that . #TON #Solana #Airdrops
https://www.binance.com/en/how-to-buy/tontoken
LIVE
Crypto Sisyphus
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As a 800M monthly active users IM software . Telegram is one of the biggest gate of attention . Which also means a great group for crypto . TON (The open network) , ill-fated since it born , And now had become a part of Telegram-Payment system . You can even found a webapp named *wallet* in the slide of latest telegram app which is base on TON network. Currently TON have become one of the top 15th chain . With Telegram as it's great back , TON should have lot of defi dapp & gamefi . But the fact is , most of token in TON lack of liqudity and the slippage is really terrible when you try swap more than $1000 . How to sloved that issue ? Well , persional speaking , i don't think TON have any TPS advantage comparing with other new blockchain like solana / aptos . Still , it have telegram as it's back . That makes me wonder what if the core of TON is not defi , but payment ? payment with stable coins & fiat . As we all know , online payment is one of the key of IM software (Like binance payment) . But currently only have few stable coins in TON , and all of them are lake of liqudity (sad stories) ... https://aquaprotocolxyz.medium.com/the-state-of-stablecoins-on-ton-challenges-and-solutions-04cac425364d
Luckly , one of the top stable coin have just announce to support TON as it's native chain : https://trueusd.medium.com/tusd-is-now-live-on-ton-c0bdab80f2c6
How do you think of this chain ? Is that any chance to be one of great chain for daily use ? for payment ? or for defi ? Please share your ideas .😘
Will counter strike skin/item marketplace to be next finance system like crypto currency ?
As a very important part of steam ecosystem , CSGO/CS2 skin/item marketcap already reach 400M , Which means so many marketplace about CSGO/CS2 items are full of liquidity . Liqudity means it can run financially like crypto currency .
Most of the skins in CSGO/CS2 behavior like NFT .Every skin have it's status , and can be print with boost , which makes every skin are unique (I got to sad , more unique than ERC721 lol) . But some items like case/container works like tokens , most of them have good liqudity , and they are not unique , allows to be swap like tokens or currency .
The liqudity makes CSGO/CS2 got more financal production , like lending / exchange /gamble event insurence . Due to the limit of steam community , it's not very possible to be another crypto currency . But it still can be a newly part of worldwide finance . Bitcoin-ETF just got approved few months ago since i write down this word , so i think CSGO/CS2 STEAM skin/item marketplacece can works better .
Now more and more skin/item market place like market.csgo.com support crypto currency as deposit/withdraws . Seems like it's a nice pair of virtual finance (And a nice place for laundering XD )
How you guys think of this newly market , it's rising speed goes similar to Bitcoin (since 2015) , and grows with stable speed .
Months after OKEX delist XMR / Zcash , Binance do the same thing .
Who will be the next ? ZK ? ALEO ?
"Crypto was just like the old macondo . And now spot ETF just break the door and start it's Banana Massacre . Pinkerton travel by train , shot any last aboriginal in decentralized land . Don't just be fool ." --macondo
Binance Will Delist ANT, MULTI, VAI, XMR on 2024-02-20
This is a general announcement. Products and services referred to here may not be available in your region. Fellow Binancians, At Binance, we periodically review each digital asset we list to ensure that it continues to meet a high level of standard and industry requirements. When a coin or token no longer meets these standards or the industry landscape changes, we conduct a more in-depth review and potentially delist it. Our priority is to ensure the best services and protections for our users while continuing to adapt to evolving market dynamics. When we conduct these reviews, we consider a variety of factors. Here are some that drive whether we decide to delist a digital asset: Commitment of team to projectLevel and quality of development activityTrading volume and liquidityStability and safety of network from attacksNetwork / smart contract stabilityLevel of public communicationResponsiveness to our periodic due diligence requestsEvidence of unethical/fraudulent conduct or negligenceNew regulatory requirementsContribution to a healthy and sustainable crypto ecosystem Based on our most recent reviews, we have decided to delist and cease trading on all trading pairs for the following token(s) at 2024-02-20 03:00 (UTC): Aragon (ANT)Multichain (MULTI)Vai (VAI)Monero (XMR) Please note: The exact trading pairs being removed are: ANT/BTC, ANT/USDT, MULTI/USDT, USDT/VAI, XMR/BNB, XMR/BTC, XMR/ETH, XMR/USDTAll trade orders will be automatically removed after trading ceases in each respective trading pair.To view your assets after trading ceases, please ensure you have not selected “Hide Small Balances” in all of your wallets.Deposits of these token(s) after 2024-02-21 03:00 (UTC) will not be credited to your account. Withdrawals of these token(s) from Binance will not be supported after 2024-05-20 03:00 (UTC). Delisted tokens may be converted into stablecoins on behalf of users after 2024-05-21 03:00 (UTC). Please note that the conversion of delisted tokens into stablecoins is not guaranteed. A separate notification will be made before the conversion where applicable, and the stablecoins will be credited to users’ Binance accounts after the conversion. Binance Simple Earn will delist the token(s) mentioned above after 2024-02-19 03:00 (UTC). Users may choose to redeem their Flexible Products positions beforehand. Otherwise, these Flexible Products positions will be automatically redeemed at the above-mentioned time, and subsequently transferred to users’ Spot Wallets. Binance Auto-Invest will delist the token(s) mentioned above after 2024-02-14 03:00 (UTC). Users may choose to remove the plan(s) beforehand. Otherwise, the next recurring cycle of the aforementioned token(s) will fail.At 2024-02-18 03:00 (UTC), Binance Loans (Flexible and Stable Rates) and VIP Loan will close all outstanding loan positions for the aforementioned token(s) as loanable token(s) and collateral token(s). Users are strongly advised to repay their outstanding loans before 2024-02-18 03:00 (UTC) to avoid any potential losses, where applicable.Binance Margin will delist the ANT, MULTI and XMR cross margin and isolated margin pairs at 2024-02-16 06:00 (UTC). At 2024-02-08 10:00 (UTC), Binance Margin will suspend isolated margin borrowing on the aforementioned isolated margin pairs. At 2024-02-16 06:00 (UTC), Binance Margin will close users’ positions, conduct an automatic settlement and cancel all pending orders on the aforementioned cross and isolated margin pairs. These pairs will then be removed from Margin. Please note that users will not be able to update their positions during the delisting process, and they are strongly advised to close their positions and/or transfer their assets from Margin Wallets to Spot Wallets prior to the cessation of margin trading at 2024-02-16 06:00 (UTC). Binance will not be responsible for any potential losses. Portfolio Margin users are advised to transfer the tokens mentioned above out of their Margin Wallet to their Spot Wallet and to top up their margin balance before 2024-02-16 06:00 (UTC) where applicable. Users should monitor the Unified Maintenance Margin Ratio (Uni-MMR) closely to avoid any potential liquidation that may result from the removal of the tokens mentioned above from the Margin Wallet.All ANT, MULTI and XMR balances in Cross Margin Wallets under the Portfolio Margin account will be automatically converted to USDT from 2024-02-16 06:00 (UTC). The conversion may take approximately 24 hours or longer. Binance Margin will not be liable for any losses on new positions during this period that may incur due to the conversion of funds. Refer to this FAQ for more information.Binance Futures will close all positions and conduct an automatic settlement on the Coin-M XMRUSD Perpetual Contract at 2024-02-15 09:00 (UTC). The contract will be delisted after the settlement is complete. Users are advised to close any open positions prior to the delisting time to avoid automatic settlement. Users are not allowed to open new positions for the aforementioned contract starting from 2024-02-15 08:30 (UTC). In order to protect users and prevent potential risks in extremely volatile market conditions, Binance Futures may undertake additional protective measures toward the Coin-M XMRUSD Perpetual Contract without further announcement, including but not limited to adjusting the maximum leverage value, position value, and maintenance margin in each margin tier, updating funding rates such as the interest rate, premium and capped funding rate, changing the constituents of the price index, and using the Last Price Protected mechanism to update the Mark Price. Please note that users may continue trading USDⓈ-M XMRUSDT and ANTUSDT Perpetual Contracts.Binance Convert will delist the aforementioned token(s) and all associated pairs at 2024-02-16 03:00 (UTC).Binance Gift Card will delist the token(s) mentioned above at 2024-02-20 03:00 (UTC). Users are encouraged to manage Gift Cards containing these token(s) in advance to avoid any inconveniences.Binance Pay will delist the aforementioned token(s) at 2024-02-18 03:00 (UTC).Binance will terminate Trading Bots services for the aforementioned spot trading pairs at 2024-02-20 03:00 (UTC), where applicable. Users are strongly advised to update and/or cancel their Trading Bots prior to the cessation of Trading Bots services to avoid any potential losses.There may be discrepancies in the translated version of this original article in English. Please reference this original version for the latest or most accurate information where any discrepancies may arise. We thank you for your support as we continue to build the crypto ecosystem in a way that promotes transparency and long-term, sustainable growth. Thank you for your support! Binance Team 2024-02-06 Note: This announcement was last updated on 2024-02-07 to add clarifications to this event.
Tether Reports Record $2.85B Profit as Biggest Stablecoin Nears $100B Market Cap
The stablecoin issuer held over $5.4 billion in excess reserves as of 2023 year-end, according to its latest attestation.
The latest quarterly attestation reported Wednesday showed some $1 billion of the profit came from the interest earned on the company's vast U.S. Treasury, reverse repo and money market fund investments, which are held to back the USDT stablecoin, according to a Tether blog post. The rest came "primarily" from appreciation of Tether's other investments such as bitcoin (BTC) and gold.
According to the latest quarterly attestation signed by BDO Italy, Tether disclosed $97 billion of assets in reserve against $91.6 billion in liabilities as of Dec. 31. This translated to $5.4 billion of excess reserves backing Tether's stablecoins.
The company also issues several other digital currencies pegged to fiat currencies and gold, and recently made investments in bitcoin mining, artificial intelligence and telecommunications. For years, USDT and the quality of the assets backing it have been a key source of concern in the crypto markets.
Recently , TONResearch have release a blog about a newly TON payment system .
Here are some core inforamtion :
The TON Payment Network is a revolutionary peer-to-peer payment framework, designed to facilitate transactions across the TON Blockchain with unmatched efficiency and security. This document delves into the technical specifications, operational mechanisms, and unique features that set the TON Payment Network apart, providing a comprehensive look at its potential to reshape digital transactions.
The network operates on a decentralized model of payment nodes, which establish connections through smart contracts deployed on the blockchain and utilize the Reliable Datagram Protocol (RLDP) for network communication. These nodes serve dual purposes: as independent entities for transaction facilitation and as integrated libraries within applications for seamless service provision and payment functionalities, such as TON Storage and TON Proxy.
Each node actively monitors blockchain transactions to detect updates related to its contracts, such as the establishment of new contracts or events signaling non-consensual closures. To initiate a connection, a node deploys a payment channel contract specifying both parties’ public keys. Authentication over the network is secured through the exchange of messages signed with channel keys, ensuring integrity and confidentiality.
Virtual channels allow transactions between any two network points via a chain of linked nodes, without requiring direct onchain contracts between every participant. These channels are characterized by their unique keys, lifespans, capacities, and fees. For instance, a virtual channel can be established from node A to C through B, leveraging existing onchain channels (A->B, B->C) for transaction routing. Security against potential breaches in the transaction chain is guaranteed through cryptographic mechanisms and the flexible architecture of the TON blockchain.
Comparing with tradition financal marketplace , Decentrilized financal & Crypto financal are actually more conservative .
Surprised you ? In fact , Most DeFi protocol are based on untrusted over-collateralized lending and pathetic mortgage rates . When liqudity keep healthy , most DeFi productions are having no much risk.
As for centralized financal services such as options and crypto lending products , are not strong enough and lack structure and composability currently.
Right , you can just open a 100x future in any exchange (even decentralized derivatives protocol, Like DYDX/GMX/GNS). But due to the lack of composability, it is basically useless and makes no difference to suicide in Las Vegas with Franklin inside ass .
However, more and more crypto structured products shows up . OKEX support seagull/snowball/sharkfin and other products about structured financal :
Recently , Binance also launched few newly products like : copytrading & trading-bot , which means binance are tring to build and focus on it's crypto structured products .
The approval of BTC-ETF.And the attention of ETH-ETF & XRP-ETF. More and more traditional finance moving into cryptocurrency. It means cryptocurrencies are more and more likely to be packaged into and be some part of traditional financial structured products. Also means that more and more crypto financial products will comes up.
Personally, I do think with the Binance’s mini-program, many structured financial products will appear on Binance in the short future.
Compared with simply buying and selling , or future , structured financial products will be the major products accepted by newly user .
With the incressing of BinancePay , perhaps in the near future will become a borderless encryption platform that integrated payment, staking , and structured financial.
Let's wait and see to binance structured financial products lol :) @Binance
Binance mini-program , Next generation web2.5 financal .
Will Binance mini-program be the future of crypto financal & Web2.5 ? I think all of us tired to switch into different wallets and buy many shitcoin as gas .
Auth by binance and pay using binance will be nice idea for new user to get in (Believe me , 99% user who try to buy meme or play gamefi do not know it is nessary to trasfer few ETH/SOL as gas ... They withdraws stablecoins like USDC directly) .
Binance mini-program seems like to be a nice place for the connection between web2 & web3 .
As a 800M monthly active users IM software . Telegram is one of the biggest gate of attention . Which also means a great group for crypto . TON (The open network) , ill-fated since it born , And now had become a part of Telegram-Payment system . You can even found a webapp named *wallet* in the slide of latest telegram app which is base on TON network. Currently TON have become one of the top 15th chain . With Telegram as it's great back , TON should have lot of defi dapp & gamefi . But the fact is , most of token in TON lack of liqudity and the slippage is really terrible when you try swap more than $1000 . How to sloved that issue ? Well , persional speaking , i don't think TON have any TPS advantage comparing with other new blockchain like solana / aptos . Still , it have telegram as it's back . That makes me wonder what if the core of TON is not defi , but payment ? payment with stable coins & fiat . As we all know , online payment is one of the key of IM software (Like binance payment) . But currently only have few stable coins in TON , and all of them are lake of liqudity (sad stories) ... https://aquaprotocolxyz.medium.com/the-state-of-stablecoins-on-ton-challenges-and-solutions-04cac425364d
Luckly , one of the top stable coin have just announce to support TON as it's native chain : https://trueusd.medium.com/tusd-is-now-live-on-ton-c0bdab80f2c6
How do you think of this chain ? Is that any chance to be one of great chain for daily use ? for payment ? or for defi ? Please share your ideas .😘