In March, we witnessed #USDC depeg following the unexpected closure of Silicon Valley Bank. The thing is that the issuer of the stablecoin — Circle kept $3.3 billion assets in the bank. The company’s reserves decreased and USDC lost parity 1:1.

The liquidity outflow started. The situation created strong negativity around other stablecoins. The domino principle worked. A significant part of their collateral came from USDC. For example, #DAI by 48% was secured by USDC.

Then people started to get rid of $USDC at an unfavorable rate and the situation may repeat itself. That is why Amulet Protocol has launched a new product to cover the risks of depeg stablecoins.

Amulet Protocol — simple, reliable #cover for everyone in web3 and already provides smart contract vulnerability cover.

And now provides coverage for depeg stablecoins.

Two functions added:

Purchase cover to protect against a depeg.

Stake to provide capacity for depeg cover.

TNT Vaults: Amulet simplified trading platform for risk trading

When purchasing covers, users deposit their USDC or $USDT into a vault where the assets will be protected. In case of depeg stablecoin and triggering of the trigger price, the user receives a trigger payout.

Purchase DePeg Cover

Underwrite — allows users to #Stake their assets in the vault, thereby taking the risk in the event of a price trigger or receive a payout without triggering a trigger.

Underwrite DePeg Cover

Once all prices are agreed upon between payments and underwriting capital (deposited in a separate vault), the vaults are slammed. Funds are released when coverage expires or when a depricing event is triggered.

If a #Stablecoin depeg occurs buyers will be paid their covered losses. If the coverage expires without triggering, underwriters will be paid their premiums.

So far, depeg coverage has been released for two stablecoins: USDC and USDT. The vaults have been audited by FYEO and are already available here 👇https://app.amulet.org/#/vault/trade

AltLayer, the avant-garde infrastructure project, is paving the way for Web3 applications by providing a cutting-edge rollup solution through its Rollup-as-a-Service (RaaS). The project is currently allowing users to participate in the testnet and receive NFTs on Galxe.
Understanding AltLayer:
What is AltLayer? AltLayer stands as a sophisticated platform uniquely designed for application developers, aiming to enhance and integrate execution layers. Considered a unique synthetic layer, AltLayer brings many new enhancements, allowing developers to maximize resources. With its multi-chain and multi-virtual machine design, AltLayer supports both Ethereum Virtual Machine (EVM) and WebAssembly (WASM).
AltLayer's Website: Explore AltLayer
Key Features and Innovations: One notable aspect is that AltLayer is not constrained by a single L1 or L2 but operates as a modular extension solution that can connect to all EVM and WASM-compatible blockchains. This powerful technology optimizes application performance and extends integration capabilities across various platforms.
Noteworthy Achievements: On February 17, 2022, AltLayer successfully raised a funding round of $7.2 million, with participation from investment funds such as Polychain Capital, Jump Crypto, and Breyer Capital. Renowned individual investors like Gavin Wood and Ryan Selkis also contributed. AltLayer recently achieved the MVB Season VI award from Binance, joining other notable projects like Cashmere and ZKCross.
Upcoming Airdrop and NFT Giveaway: AltLayer plans to conduct an airdrop for early platform users and distribute NFTs from Galxe in Q3 or Q4 of this year.
Guide to Joining AltLayer's Testnet:
Step 1: Follow AltLayer on Twitter, retweet their posts, and join their Discord community.
Step 2: Faucet the following tokens: ETH Sepolia here, MSEQ here, MSNFT here.
Step 3: Deposit and withdraw the tokens from Step 2 here.
Step 4: Visit Galxe to verify completed tasks and claim AltLayer's NFTs.

Join launchpool : https://www.binance.com/en/support/announcement/introducing-altlayer-alt-on-binance-launchpool-farm-alt-by-staking-bnb-and-fdusd-8415d71c5cce481fb8bdec3651972366

#lauchpool #binance #Stake #Layer2
#btc

Acerca de Jito
Jito es un servicio de apuesta de liquidez en Solana que asigna recompensas de valor máximo extraíble (MEV) a los titulares. El fondo de capital de Jito permite a los usuarios apostar sus tokens Solana a cambio de tokens de fondo de liquidez (JitoSOL). Los tokens JitoSOL proporcionan liquidez a la vez que obtienen recompensas de apuesta y recompensas MEV.
Guía del usuario de Jito
1. Abre TokenPocket, haz clic en “Descubrir”, busca “Jito” en la barra de direcciones superior y abre la DApp.

2. Por favor, lea el consentimiento de cookies para el primer uso, haga clic en 【Accept All】 para aceptar. Una vez completado, haga clic en 【Connect】 en la esquina superior derecha y elija TokenPocket para conectar su monedero.

3. Después de conectar con éxito el monedero, la función por defecto es Stake. Simplemente introduzca la cantidad de SOL aquí, y la cantidad correspondiente de JitoSOL se calculará automáticamente. Por último, haga clic en el botón inferior “Depositar SOL”, marque “Aceptar la exención de responsabilidad” en la declaración emergente y haga clic en “Continuar”.

4. Después de completar la firma de la transacción en la cadena, verá un mensaje indicando que la operación se ha realizado correctamente. Al cambiar a la interfaz de activos, podrá encontrar el token JitoSOL ya listado.

5. Si necesita retirar tokens, puede volver a abrir Jito, cambiar al menú “Desadquirir”, introducir la cantidad a retirar, ejecutar “Desadquirir SOL” y, tras completar la operación en cadena, podrá recuperar SOL. Se puede acceder a otras funciones de Jito a través del menú de la esquina superior izquierda. Para conocer a fondo la mecánica y las reglas de Jito, visite su plataforma oficial.

$SOL #Jito #solana #TokenPocket #DeFi #Stake $jitoSol

#Sauber , a well-known Formula 1 team, has acquired a new name as the #Stake F1 Team for the years 2024 and 2025. This renaming is the result of an agreement with the cryptocurrency betting and casino platform, Stake, which becomes the team's new main sponsor.
Stake and Kick.com Enter Formula 1
Stake, along with its live broadcasting platform Kick.com, first appeared as a sponsor for Sauber in 2023. From the following year, the team will be officially known as the Stake F1 Team Kick Sauber, with its debut under the new name taking place in London in February 2024. This move follows the end of Alfa Romeo's sponsorship with the Sauber C44 in 2023. Sauber is set to become the factory team for Audi in 2026, providing an opportunity for other sponsors in the interim.
 

 Stake and Kick.com: New Players in F1
The Kick.com platform gains naming rights for the Sauber vehicle chassis, which will be called the Kick Sauber C44. Additionally, the Stake brand becomes a manufacturer of Formula 1 vehicles, a significant step within the sport. Team drivers will continue to be Valterri Bottas and Zhou Guanyu.
 Drake and F1: New Collaboration
Canadian rapper Drake has been involved in the unveiling of the team's new branding and is expected to perform at some F1 races in the 2024 season.
 

 
Crypto in F1: A Growing Trend
In recent years, Formula 1 has attracted the attention of crypto exchanges and companies looking to reach its global fan base. The company OKX became the primary partner of the McLaren team in May 2022, while Crypto.com has been a prominent sponsor of F1 since 2021, working with the Aston Martin Aramco Cognizant F1 team.
#SpaceCatch #CATCH #crypto2024SpaceCatch
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 Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“