PayPal Marks Milestone by Conducting First Commercial Transaction with Stablecoin
PayPal has made history by carrying out its first commercial transaction using its stablecoin, a move that promises to revolutionize the digital payments ecosystem. This development not only underlines the companyâs commitment to innovation in the financial sector, but also opens the door to new possibilities in the use of cryptocurrencies for everyday commerce. With this move, PayPal positions itself as a pioneer in the integration of cryptocurrencies and traditional finance, attracting the attention of users and investors alike.
Asset manager Grayscale Investments launched a new investment fund for Aaveâs governance token, AAVE, according to an Oct. 3 announcement.Â
The Grayscale Aave Trust âoffers investors the opportunity to gain exposure to AAVE, the governance token for Aaveâs platform,â Grayscale said.Â
The fund, which is only available to qualified investors, adds to Grayscaleâs suite of single-asset crypto investment products. In August, Grayscale launched three trusts to invest in the native protocol tokens of Sky (previously MakerDAO), Bittensor, and Sui, respectively.
Grayscale crypto products. Source: Grayscale
Aave is a decentralized finance (DeFi) platform âdesigned to help facilitate transparent, decentralized borrowing and lending by using self-executing smart contracts instead of traditional intermediaries,â Grayscale said.Â
Grayscale is the worldâs largest crypto fund manager, with approximately $21 billion in assets under management as of Oct. 2, according to Grayscale.
It is best known for its Bitcoin (BTC) and Ether (ETH) exchange-traded funds (ETFs), including Grayscale Bitcoin Trust (GBTC) and Grayscale Ethereum Trust (ETHE).
Grayscale Aave Trust solely invests in the AAVE token. Grayscale also operates private single-asset funds for other protocol tokens, such as Basic Attention Token (BAT) and Chainlink (LINK).Â
AAVE price over 12 months. Source: CoinMarketCap
Aave is DeFiâs most popular lending protocol with nearly $12 billion in total value locked (TVL), according to DefiLlama.Â
In July, Aaveâs tokenholders endorsed a proposal to upgrade its tokenomics with a mechanism directing a portion of the protocolâs revenues to AAVE stakers.
Aave earns revenue from liquidations of loans, which are collateralized in cryptocurrency.Â
The AAVE token has gained more than 110% in the past 12 months, according to CoinMarketCap.
âBy leveraging blockchain technology and smart contracts, Aaveâs decentralized platform aims to optimize lending and borrowing while removing intermediaries and reducing reliance on human judgment,â Grayscaleâs head of product and research, Rayhaneh Sharif-Askary, said in a statement.
In August, Dave LaValle, Grayscaleâs global head of ETFs, predicted that the market for cryptocurrency ETFs will expand to encompass new types of digital assets and diversified crypto indexes.
âWeâre going to see a number of more single-asset products, and then also certainly some index-based and diversified products,â LaValle said.
It seems to me that there are people claiming what is not well calculated by themselves from the beginning.
#APR is an annual calculation. That is, what was received as a reward or interest that, if it continued like this, would add up to so much (example X).
Example:
In one year I received 12 bars of chocolate, it means that it was 1 bar of chocolate each month, it means that there were 30 squares that make up the bar of chocolate during that month, it means 1 square each day.
It does not mean that in the first 7 days of the year they will give me 12 chocolates.
Now do the math the other way around, day by day, until completing the year (if there are no variables).
That is the true account of #APR and generally what is received is not compounded, it is based on the original capital or say; of the investment.
$BTC The market has already seen that, although there are serious conflicts, they are punctual. They do not necessarily affect the global economy. Let us all keep our eyes on the goal, not out of indifference, but rather out of determination for peace. Business as a dynamic of society. $BTC đ¶
Sui Bridge Launches On Mainnet Supporting ETH And WETH Transfers
According to PANews, Sui Bridge has officially launched on the mainnet, enabling transfers between Sui and Ethereum networks. Currently, the bridge supports the transfer of ETH and WETH tokens. The transactions on Sui Bridge are secured by Sui's own network validators, utilizing the same infrastructure that supports and protects the Sui network itself.
EigenLayer Token Distribution Update: Stakedrop1 And Stakedrop2 Progress
According to BlockBeats, as of October 1, data from Dune Analytics reveals significant progress in the distribution of EigenLayer's EIGEN tokens. The first phase of the token distribution, Stakedrop1, has seen 95.74 million EIGEN tokens claimed. The second phase, Stakedrop2, is currently underway, with a claim rate of 27.1%, amounting to approximately 23.31 million EIGEN tokens so far.
At present, 69.25 million EIGEN tokens are staked and remain locked. The circulating supply of EIGEN tokens stands at around 49.80 million, which represents about 3% of the total supply. This ongoing distribution and staking activity highlights the active engagement of the community in the EigenLayer ecosystem.
Now! Binance is excited to announce the listing of EigenLayer (EIGEN), an innovative security protocol in the crypto economy. Important details: - Trading start date: October 1, 2024, 05:00 (UTC) - Available trading pairs: OWN/BTC, OWN/USDT, OWN/FDUSD and OWN/TRY - Deposits now available - Withdrawals available from October 2, 2024, 05:00 (UTC) - Listing fee: 0 BNB Crucial Notes: - EIGEN carries the "Seed" label, indicating higher volatility and risk