💶 EOS Foundation launched a staking rewards program with a yield of 60% per annum
As part of the tokenomics update plan introduced in June, which set the maximum supply at 2.1 billion EOS [instead of the previous 10 billion] and introduced halving cycles [for 20 years, EOS supply will be halved every 4 years until inflation reaches 0.01 %], 31.25 million tokens will be paid annually to stakers on REX, with APY decreasing over time
In addition, the minimum waiting period for withdrawing tokens from staking has been increased from 4 days to 21 days. and 315 million EOS (15% of the maximum supply) was minted on June 20 to provide liquidity on exchanges
❓ EOS is a blockchain that called itself the “Ethereum Killer” after the largest ICO in history at $4 billion, held in 2017
On EOS, users do not pay fees, as is common in other networks. Instead, each transaction is allocated CPU (computing power) and NET (network resources for data transfer)
To receive CPU and NET, users must stake EOS. Another option is to use REX (Resource Exchange), which allows you to rent computing resources for EOS from other users
RAM is used to store and read data about user balances, transaction history and smart contracts. It is purchased to create addresses on the EOS network (yes, they are not free!) and as fuel for dApps.
💵 Fuel Network, a modular L2 solution for Ethereum, is preparing to launch the mainnet
Fuel has announced the launch of the Fuel Points program, which allows users to claim future token distributions, similar to the Blast event
To participate in the program and earn points, you must deposit USDT, USDC, ETH, WETH or wrapped liquid (re)staking tokens such as stETH from Lido or eETH from Ether.fi into the Fuel contract on Ethereum (LST and LRT balance changes daily, and wrapped tokens allow it to be fixed)
Although you can withdraw your assets from the contract at any time, it will result in the loss of all accumulated points if you do so before the mainnet launches. You will also lose points if you forget to transfer a deposit from an Ethereum contract to Fuel within 14 days of the mainnet launch
🇩🇪 How to lose all bitcoins in less than a month: there are no more BTC in German addresses
You got it right – over the last 24 hours, Germany has been on fire, sending over 16,000 BTC to the addresses of crypto exchanges and market makers.
Probably few people care, but CoinDesk found out that it was not the German federal government that was so rapidly getting rid of digital gold, but its state of Saxony, which confiscated the coins in January. In general, the CoinDesk interlocutor concludes, seized assets are always liquidated, and then, after a court ruling (which does not exist yet), the money goes to the budget
BTC did not collapse by 10% on the back of such news, which once again confirms (i) the stability of the market when there is no widespread FUD, (ii) the absence of sharp sales on the open market and, probably, the search for OTC buyers by Saxony
💸 Tailwind for BTC: CPI in June was lower than expected
Annual inflation last month was 3% for the first time in the last 12 months, which is lower than the level in May (3.3%) and less than economists' forecasts (3.1%).
It is also the first time since the start of 2020 that consumer prices fell 0.1%, while economists had expected a 0.1% rise.
The CME not only raised the likelihood of a September interest rate cut to 88%, but also forecast three cuts by December, up from one cut 1.5 months ago and two a week ago. However, their forecasts already failed at the beginning of the year ❌
⚙️Commodity Futures Trading Commission Chairman Behnam stressed the importance of the Illinois court's decision confirming that BTC and ETH are commodities under the commodity exchange laws at a congressional hearing
He also noted that 70-80% of the cryptocurrency market is not securities, and coordination with the SEC occurs in the area of enforcement, but not regulation
In response to a question about expanding the CFTC's jurisdiction to all digital assets, Benham stated:
"I speak for myself, but I would be happy to take this step. I think we have the experience and the capabilities."
He emphasized that the main priority should be control over CEX, not over DeFi:
“I firmly believe there is a regulatory nexus for DeFi, but we may need to take a fresh look given its unique nature.”
📣 BTC ETFs are gaining momentum: inflows are recorded for the fifth day in a row
Yesterday, BlackRock raised another $72 million, Fidelity added $32 million, and Grayscale unloaded $37 million
Results for six months of the funds’ work:
IBIT owns 314,600 BTC ($18.09 billion);
GBTC manages 272,170 BTC ($15.65 billion);
Fidelity is in third place with 174,950 BTC ($10.06 billion)
Hong Kong today raised the second-largest amount of funds ever, at $35.1 million (612 BTC).
ETH ETFs showed signs of life for the first time in 25 days: today $483 thousand (156 ETH) were invested in them.
