The Defi yield protocol (DYP) allows all users to provide liquidity while earning returns in DYP, the native ERC-20 token underpinning the project.The DYP token has been available for purchase and trading on leading Defi platform Uniswap for some time, with liquidity locked for one year with UniCrypt.Contracts for DYP are routinely audited by PeckShield and the Blockchain Consilium and rely on SecurityOracle. These safeguards help protect the decentralized network from smart contract bugs that can result in security breaches such as flash loan attacks.The DYP interface is also quite simplified, enabling both novel and professional yield farmers to use the protocol and earn lucrative rewards. The secure and user-friendly nature of the DYP platform guarantees users the best experience in open finance.What’s more, DYP’s governance dApp gives full control of the protocol to the community, which votes on vital upgrades such as new liquidity pools and fees. This governance mechanism promotes transparency and fairness and deters nefarious actors from infiltrating the network.The DYP Staking Protocol is Live!DYP has now unveiled its unique staking protocol that allows users to provide liquidity and earn rewards via the ETH smart contract integrated with the Metamask wallet. Now all crypto enthusiasts can earn some free ETH by staking their tokens on DYP.DYP staking pools allow token holders to activate Ethereum rewards and access a wide range of benefits via the DYP staking and governance dApp. The protocol amassed $36M in total value locked (TVL) just over a week after launch and looks sure to spur some interest in the market by rewarding stakers in Ethereum. As of this article’s writing, TVL stands at just over $46M.To celebrate the staking dApp launch and the listing on Uniswap and Bithumb Global, the DYP team has announced it will give away $1000 worth of ETH. The…
Archives for December 2020
Vauld Raises $2 Million To Establish Stronghold In India
Crypto Bank Vauld (previously known as Bank of Holders) gets $2 Million in fundraisings from industry leaders including Pantera, Coinbase Ventures, CMT digital, and individual investors like Robert Leshner of Compound Finance, Tarun Chaitra’s Robot Ventures, CoinShares, Better Capital, New Form Capital, Jesus Rodrigues (the CEO of IntoTheBlock), over the last four months.Vauld uses these funds to establish and expand crypto banking in India. The company will provide borrowing, lending, trading, and payments. Vauld also looking to expand its reach in Europe and the U.S.CEO Darshan Bathija said in a statement: “We see institutional capital come into the crypto space with the expectation of banking integrations to complement crypto credit offerings.”Vauld plans to expand its team of 7 members to 20. “Hiring is the focus of the hour in the Indian market,” Vauld co-founder and CTO Sanju Sony Kurian said in a statement.Darshan Baithja Co-Founder of Vauld said: “We will work closely with the commodities and banking regulators to ensure that we and our partners are and remain fully compliant through the changing regulatory landscape.”The company’s aim is to implement an Over the Counter (OTC) desk, debit and credit cards, Fiat, and crypto trading for different countries. Users will get all traditional banking services in a more secure and transparent ecosystem. Vauld has partnered with industry leader custodian Bitgo, the most trusted custodian in the crypto world. BitGo’s wallets are insured by Lloyd’s London for a sum of $100 Million, ensuring the safety of our customers’ deposits, and lending both you and us, peace of mind.Vauld intends to expand licensing across international crypto hubs including Singapore and the U.K. in the next 24 monthsInvestor Paul Veradittakit, partner at Pantera Capital, said in a press release his firm is excited about “Vauld’s vision to make cryptocurrencies the preferred instrument of banking…
WiseToken will be listed on Uniswap on the 31st of December 2020.
WISE is a unique staking platform that leveraged an unprecedented 96% of presale capital to form an instant, massive, and unremovable market on Uniswap.org. WISE is audited, functional, complete, and free of any admin keys, or anything threatening its decentralizationWISE currently has $34 million in the contract which will give $70 million initial liquidity for $WISE on Uniswap. Once WISE list on Uniswap, it will be one of the top 10 tokens on Uniswap based on liquidity, with $70 million in initial liquidity. The only tokens on Uniswap that will have more liquidity than WISE, is stable coins, WBTC, and ETH. So far WISE has seen incredible traction and people are paying double the price in the auctions, compared to the expected Uniswap listing price.WiseToken, expect an immediate jump to a $100 million market cap, once WiseToken list on Uniswap.There is no other asset-backed crypto-like $WISE because they’d have to start by selling 50% of the supply at market price, pair that money with the other half of supply in a Uniswap liquidity pool, and then burn the keys to that liquidity to ensure decentralization.You can read more about WISE on their Website or in their Whitepaper. If you want to stay up to date with WISE then follow them on YouTube, Twitter, and Telegram.
Interview with Peter Girr, Founder of WISE
Which partnerships have you engaged so far, and which ones are the most impactful?None at the moment, and we will choose our partners very carefully.Now on a more technical side of things, what are the coin metrics, and how do these lead to a stable and balanced system?Fair launch — Gives us a leg up over all tokens that launch with a ridiculously cheap presale and large percentages of the supply being gifted to the team and seed investors for free. Instead of instantly creating mega-whales in the system that can cash out on the heads of new investors, everyone got in at relatively the same price, creating a very stable core that can’t be manipulated by anyone.Manageable inflation — WISE actually has less inflation than BTC, and the inflation goes to the right people (unlike BTC). Rewarding inflation to stakers brings stability to the system other projects simply don’t have. This also creates an amazing price chart, as stakers take WISE out of circulating supply, creating scarcity for new users.A well designed referral system — A well-designed referral system can bring more users into the system indefinitely if the rewards make sense. WISE rewards referrers when users stake WISE using their link. This residual income will keep bringing adoption even after the initial hype fades, because content creators will be generating more content to promote their referral links. We already have over 50 content creators promoting WISE referral links and over 1000 videos and pieces of content created!If people would like to follow you on your social media pages, visit your website or read your important documents like your white paper, what are the links they need to visit? Please list them below.Website: https://wisetoken.netWhite Paper: https://wisetoken.net/tealYouTube: https://www.youtube.com/c/WiseStakingTwitter: https://twitter.com/wise_tokenTelegram: https://t.me/wisetokenThank you so much for your time! Do you have anything…
How To Convert Your Bitcoins To INR To Do Your Everyday Shopping In India?
A small segment of the population already knows how to buy bitcoin in India, either to save or even to speculate and make a profit, but another important segment of the population at this very moment is asking itself a host of key questions:1. How can I convert from INR to bitcoin?2. Can I buy products and services in India with bitcoin?3. Once I have bitcoin in my wallet, how do I convert from bitcoin to INR to make my purchases?In this article, we will focus on answering this last question, motivated by the fact that many Indians need to have their INR to buy their products and services in the Asian country.How do I convert from bitcoin to INR?The answer to this question is very simple, and we must start by saying that in the global cryptocurrency trade there are different modalities of exchange places that are classified as follows: traditional exchange, cryptocurrency brokers, cryptocurrency funds, OTC exchange (Over-The-Counter), Peer-to-Peer Exchanges (P2P), Instant Exchanges.The most convenient and safe way to convert your bitcoins to INR is through the P2P (Person to Person) cryptocurrency exchange modality.In India one of the safest, and we recommend on this occasion is; Remitano.It should be noted that this type of P2P exchange company, in this case, Remitano, serves as an intermediary and facilitator, providing custody (escrow) between the seller and the buyer of bitcoin.And to make said change from bitcoin to INR you must follow the following procedure:The bitcoin seller, which in this case will be you, has two ways to sell your bitcoins (or fractions of bitcoin):You can set up an ad and place a price and wait until an interested buyer arrives for the price you have set and executes the purchase order.Another quicker way to do this is for you to…
Holder Finance (HFI) Private Token Sale is Now Live
Holder Finance (HFI) seeks to transform the way you think about DeFi investments by introducing the first HODL-centric project built atop the Ethereum blockchain. You don’t necessarily think of HODLing when you think of DeFi. The developers behind HFI want to change that. The platform utilizes a combination of proprietary technologies and new business strategies to create an ERC-20 token designed to retain value like no other — HFI.HFI Private Sale is Now LiveThe HFI private sale is open to early-bird investors. Keenly, this event will include four rounds. Each round will see the price of HFI tokens rise slightly. The HFi token price for this stage of the event is 4,000 USDC. Notably, the private sale officially began this week after the launch of HolderSwap v1. Join Holder Finance Telegram group for more details.A Unique Multi Token StrategyTo create the world’s first DeFi store-of-value token, Holder Finance needed to do its homework. This research played a critical role in the development of HFI. The HFI token functions like digital gold within the HFI ecosystem.This unique financial instrument relies on both fundamental economic theories and advanced blockchain technologies to accomplish its goal. For example, there are only 1000 HFI tokens ever to be issued. In this way, the token has the highest level of scarcity in the market. In comparison, there will be 21 million BTC issued in total.The HFI network is flexible and relies on multiple tokens to fulfill different roles. The HFS utility token also plays a critical role in providing functionalities. Users can open pools, pay fees, and trade HFS on the Holder Finance DEX. All HFI holders receive rewards in HFS tokens. These tokens can then be converted over to any token on the DEX.Blockchain EcosystemHFI utilizes a variety of systems to provide users access to…
LEGAL REGULATION PROBLEMS OF CRYPTOCURRENCY DERIVATIVES
Photo from the sourceIn the context of the transformation of the economy, attracting investments using traditional financial instruments is becoming more and more difficult — for most companies, the opportunity to attract financing through the use of classical instruments is limited or impossible (small and medium-sized businesses now have less access to bank lending, access to the exchange infrastructure, etc.) ). The main reasons are the tight regulation of the market, a large number of intermediaries, high costs of issuing and placing financial instruments. So, for example, to work with classic stock market instruments, the status of a qualified investor is required, it is necessary to comply with the regulatory requirements for the turnover of financial instruments, take into account the peculiarities of concluding transactions in the stock markets, take into account the peculiarities of the structure of transactions with foreign elements, etc. These problems can be seen in many international markets.The transformation and “digitalization” of business leads to the need to “release” a new type of assets, and with the development of distributed ledger technology (blockchain technologies), as a solution to these problems, a new class of assets appears — crypto assets, as well as financial instruments — “cryptocurrency derivatives”, such like futures, contracts for difference (CFD), i.e. settlement futures transactions, options.Cryptocurrency futures are standardized contracts that are traded on crypto exchanges with the intention of selling or buying an underlying asset (cryptocurrency) in the future for a specified price. Generally, futures are based on the spot (current) price and the difference between the current and future contracted price is the buyer’s profit or loss. A futures contract can be based on any asset, and it does not matter whether it is real or does not have any material characteristics but is simply a certain quantitative indicator, such as…
A Detailed Overview of DeFi Token Development
DeFi Tokens are showing tremendous growth in recent times. Some of the key features of them are, decentralized, secured by cryptography, and open-source, has multiple use-cases, the users have complete control over their assets, and there is no middleman present in the system. They run as digital assets on decentralized financial applications operating on immutable blockchain networks. Some of the popular DeFi tokens that are highly demanded in the market are Aave, Yearn.Finance, Uniswap, Compound, and Synthetix. It can be purchased from the leading crypto exchanges like Binance and Coinbase.It is highly budget-friendly and each DeFi token will be backed by a valuable underlying asset.The tokens can be stored safely in an integrated digital wallet by the users. It will act as a foolproof solution and is completely hack-free. Private keys will be utilized by the users to gain access to their tokens.The tokens can be scaled up as the business grows rapidly. This ensures that you can carry on your operations smoothly without facing any hassles.The transactions are processed quickly and automatically whenever there is a purchase or sale of tokens on the platform. This ensures that lucrative trading deals are struck promptly by the users without undergoing any delay.The tokens can be easily utilized by users without facing any complexity. It is highly flexible and you get a perfect system to handle all your finances at your fingertips.The tokens are highly adaptable with different devices and operating platforms. Even if there is a change in technology, they can be seamlessly integrated.They have plenty of use-cases in lending and borrowing platforms, can be utilized as a form of savings in interest-bearing accounts, crypto staking, derivatives trading, insurance, and synthetic asset creation.They will create tokens embedded with governance and voting rights for the users.They will develop different types of DeFi…
Analyzing Cryptocurrencies For The Long Run
It can be hard to determine the value of the long run.Since its emergence in 2009, cryptocurrencies are some of the most complex assets to determine long-term returns. Here, we’ll outline how cryptocurrencies can be analyzed for the long-run.1-How to determine the long-term value?First, the definition of money and blockchain should be known to determine whether it’s worth investing in. Now, let’s look at these definitions:Blockchain: blockchain is a peer-to-peer network where it’s secure, timestamped, and immutable within all parties. It’s been used to transfer value between unknown and untrusting parties within the network. To control the whole network, 51% of the computer nodes have to be controlled simultaneously.How blockchain work1-an anonymous user requests a transaction,2-the transaction is represented as a block,3-the block is broadcasted to every party in the network,4-the network of nodes validate the transaction (the number of nodes required to validate the transaction differs on each network),5-now a new block of data is created and added to the existing blockchain6-the transaction is complete with its own timestamp and block number (if there was an insufficiency in a transaction, the transaction does not occur)When all the steps were completed on a blockchain, there’s no returning back even though that’s been faulty. To fix the fault, you need to make another transaction and it’s being added on the chain if all the steps are completed. This feature prevents the double-spending problem (where the owner of a specific good gives ownership to multiple entities).Money: according to the formal definition, money is defined as:1-medium of exchange,2-store of value,3-unit of accountDepending on how the money is generated it’s been differentiated: let’s look at how they’ve been differentiated under different versions.barter: the oldest version of trading in history. In this era, money is non-existent and there were only changes between goods and services…
DeFi Warp Finance Recovered 75% of Stolen Crypto Assets
The decentralized Finance Platform Warp Finance reported that it recovered $5.85 million worth of crypto assets from $7.7 million stolen from the Protocol last week.On December 18, the DeFi Warp Finance Protocol was attacked using flash loans.Taking a look… https://t.co/UzyDETcmurThis is the second attack whish uses multiple flash liquidity,flash swaps via Uniswap and flash loans via dYdXWe will see very complex things via @AaveAave V2 batch flash loans https://t.co/jAjWa3WAi6- Emiliano Bonassi | emiliano.eth (@emilianobonassi) December 17, 2020The hacker was able to withdraw stable coins worth $7.7 million from the platform. Over the weekend, the Protocol’s developers said they were able to recover most of the stolen crypto assets.Securing the lost assets was the responsibility of the Warp Finance team and they will return approximately 75% of the users deposited assets.Recovered crypto assets will be distributed to affected users in an amount proportional to the amount of W-USDC and W-DAI held at the time of the attack.The developers of the Protocol intend to compensate users for losses and will distribute debt tokens of the platform (IOU) to each victim. IOU tokens will be distributed in the coming days. According to the developers statement, the attack involved several flash loans taken through the dYdX platform and several quick swaps through Uniswap.The DeFi industry is actively developing this year. Recently, the dappradar portal released an annual report, according to which the volume of transactions in DeFi has increased more than 12 times in 2020.Originally published at https://thecryptobasic.com on December 22, 2020.