Boxmining

Author: Amri Ahmad

  • O3 Swap: A Cross Chain Aggregration Procotol

    O3 Swap: A Cross Chain Aggregration Procotol

    Introduction

    O3 Swap, a cross-chain aggregation protocol, helps to assist multi-chain liquidity sources on ONE platform. It finds the best prices across multiple chains through its O3 Swap and O3 Hub. With no limits and hidden fees, O3 Swap is the next Trivago comparison site in crypto form. 

    What problem is O3 Swap trying to solve?

    Anyone remember the days we needed to barter, a system of exchange in which one party directly trades goods or services for other goods or services without using a medium of exchange, like fiat money? This leads to tons of problems as both products or services might actually have different values even with the same quantities given. This theory applies to the cryptocurrency system too.

    As the traditional Blockchain network is standalone and does not interfere with other blockchain networks, it is tough and difficult for the investors to carry out transactions in between. 

    This is where a cross-chain protocol comes in and breaks the glass ceiling. 

    Background of O3 Swap

    O3 Swap Cross chain aggregation protocol

    O3 Labs has developed a cross-chain aggregation protocol, named O3 Swap. The aim of O3 Swap is to offer customers access to cryptocurrency-based financial services by allowing them to exchange, or “swap,” various digital assets within their O3 Wallet. The tight security and safety systems used in O3 Swap have excelled in the decentralized system of cryptocurrencies. 

    On their official website, you can find out a few of the liquidity sources O3 Swap supports; Uniswap, SushiSwap, Curve, Balancer, Bancor, 1inch, Paraswap, and 0x Protocol are on the Ethereum blockchain; PancakeSwap. DODO, MDEX, BakerySwap, ApeSwap, BSCswap, and JulSwap are on Binance Smart Chain; Flamingo, Nash, and Switcheo are on Neo; MDEX, LAVAswap, Depth, and Chocoswap are on Huobi system.

    Cryptocurrency enthusiasts use O3 Swap as the cross-chain aggregation protocol to access liquidity outlets from different networks, making it simpler than ever to find the best rates. This single platform eases the complexity and hassle of transacting different cryptocurrencies with the lowest rates, no limit, and no hidden fees.

    O3 Swap integration with other blockchains

    A framework layer and a settlement layer make up what O3 Swap is. The O3 Wallet, O3 Swap, and payment function are the first steps. The O3 aggregator and cross-chain protocol are the seconds. Furthermore, O3 Swap has an automatic market maker, order book, and money market features to offer liquidity. Lastly, there is an O3 Swaps platform layer for a service API that can be combined with a variety of other applications.

    Features of O3 Swap

    O3 Swap’s main technical components are the exchange aggregators (O3 Aggregator) and cross-chain pool (O3 Hub). O3 Aggregators are used to help users find the most cost-effective exchange prices and routes in the network of sought-after blockchains. Whereas, O3 Hub uses the PolyNetwork to provide cross-chain transaction facilities, allowing consumers to perform liquidity by using a single token from several chains to earn money from cross-chain transaction fees and O3 incentives.

    O3 Swap Features
    1. O3 Swap is created using DeFi standards. As a result, everybody will be able to use it. With its aggregation protocol, users will not only benefit from low cross-chain exchange rates, but they will also be able to engage in the governance model, which is built on the O3 Swap Token.
    2. O3 Swap is permissionless, anti-censorship and non-KYC. It means that anybody can access O3 Swap anywhere, anytime without the need for permission of any party.
    3. O3 Swap aggregates the liquidity of multiple chains on its own single network. At the cheapest possible rate, crypto investors can exchange assets through the most efficient trading route by linking their own decentralized wallets.
    4. O3 Swap creates a community-based growth community. It develops decentralized governance and intense community development among the cryptocurrency market players. 
    5. O3 Swap utilizes the cross-chain exchange system to the top-notch level. Using the aggregation protocol puts forward all tested and potential cross-chain solutions to let the crypto lovers freely trade their desired assets with a single tap without any hassle. 

    O3 Swap Token

    O3 Swap Token (O3) is a token used by the O3 Swap platform. It acts as a vital link in the development of the O3 Swap network. Via token community governance, both members and developers are invited to engage in the overall ecological network based on the O3 Swap economic model.

    O3 Swap workflow

    There are 3 methods to earn O3 Swap token in the O3 Swap economic model. Users will first get airdrops by participating in early product testing and community contributions. The second method is that they can use O3 Swap to acquire exchange mining earnings. The final method is through contributing liquidity to the Hub (cross-chain pool) in order to get O3 incentives. When O3 is gained in one of the three ways listed above, it is locked. To unlock the O3 in the account, users must offer liquidity with O3 trading pairings to the main DEXs. The unlocked O3 has 3 main advantages: 

    1. Member rights: Stake O3 token to obtain interest and transaction discounts allocated by the O3 Swap treasury.
    2. Community governance: Users can participate in community governance by staking O3 token to initiate proposals, participate in voting, etc.
    3. LP staking: Users can use O3 token to synthesize liquidity equity proof (LP), which can be used for unlocking and mining.

    All transaction fees from O3 Swap, on the other hand, will be utilised to purchase back O3 token in open markets on a regular basis. Then the fees will be paid proportionally to O3 stakeholders and development committees.

    How to use O3 Swap

    Consumers may use the protocol by going to the Swap page on O3 Swap official website. Select it from the exchange section. The user must then bind their wallet (MetaMask, O3 Wallet, NeoLine) in order to choose the token they want to exchange. By clicking the “RFQ” button after entering a number, the user may see the transaction data. Users will validate their transactions and change the network charge accordingly. Also, the time of transaction confirmation may take longer than usual, depending on different network speeds. 

    O3 Hub

    O3 Hub is technically a big pool of the collected assets across the multiple assets in the platform. It is a cross-chain asset pool, such as a stable coin pool, and a cross-chain protocol built on the Poly Network. To earn O3 incentives, liquidity providers can deposit one or more funds into the cross-chain pool and stake the LP shares. Only stable currency cross-chain exchanges and liquidity provision are required throughout the testing period.

    The usage method is identical to O3 Swap. Users just need to choose their tokens, add or delete liquidity. Users must choose the “Deposit” or “Withdraw” option to validate a transaction. 

    IDO Launch

    On May 12th, 2021, O3 Swap had its public sale.

    O3 Swap roadmap

    This shows the aggressive innovation and determination for O3 Swap to disrupt the traditional cryptocurrency market as soon as possible. According to the roadmap, they have achieved the launch of the official website, released the Neo swap module, and published O3 Swap Litepaper in Quarter 1 of 2021. They soon will succeed in supporting ETH and BSC swaps, and be ready for O3 Version 1 online that allows the crypto users to enjoy all the perks in a more wholesome and comprehensive way.

    A decentralized autonomous association (DAO) will be formed by the end of the year 2021. O3 Swap’s aggregation protocol will have been implemented on Layer 2 networks. The whole O3 Hub development across the network will be completed by then. 

    In 2022, Version 2 of O3 Swap will make its debut with the support of instant quotes and pending orders. It will also launch cross-chain 2.0 and release the O3 network. 

    Conclusion

    According to O3 Swap, it is created in reaction to an immediate issue on the Ethereum blockchain: network congestion and low scalability. While alternative networks for retail investors have emerged, DeFi is still unable to realize its full potential due to barriers between blockchains. This project aspires to have the winning approach that will put an end to network seclusion.

    O3 Swap is changing the game so that every cryptocurrency enthusiast can enjoy the interchange between different blockchains freely. At the same time, they can enjoy the best price quote from more than 10 DEXs to optimize their best rates for the “swap”. 

    Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. (https://unitedwepledge.org Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.

  • How to mine Dogecoin with these easy software

    How to mine Dogecoin with these easy software

    Introduction

    First started as an internet meme from 2 software engineers Billy Markus and Jackson Palmer to mock crazy fans of cryptocurrency, Dogecoin has now officially become a part of the big family. It’s actually one of the top crypto currencies at the moment – not bad for something that started out as a joke. 

    what is dogecoin

    Just like other cryptocurrencies, Dogecoin is powered by a decentralized finance system called blockchain technology. The attraction of cryptos is that it is not under  any private corporations, multinational enterprises or the government’s control. Crypto currencies are free from any regulations set by any government and bank institutions.

    Moreover, Dogecoin cannot be found in a single particular computer system. It is built on top of a huge network of computers or nodes that confirm the transactions. This system of peer-to-peer exchange and transfer of information makes the whole structure almost impossible to hack and bring down. 

    Cryptocurrency has limited supply, hence the hype. This limit of supply is meant to make sure that their prices will not get too low, which is what happens  for fiat currency like the USD if the government keeps on printing the money without proper control or monitoring. 

    There are market caps for each cryptocurrency. Dogecoin has no supply limit, of which  around 129 billion Dogecoins are currently circulating as of May 9, 2021.

    What is Dogecoin mining?

    Before we get to Dogecoin mining, you have to know that mining cryptocurrencies is not the same as  mining coal or petroleum underground like they do in the Middle East. The mining being discussed here is  digital mining through complex mathematical algorithms. In a simpler context, it is like the process of creating a new coin by solving a puzzle, but just in a more technical way involving very complex algorithms .

    Since the ledger — blockchain technology — of the transactions need to be maintained, not a lot of people will spend time mining. Instead, they will just buy the coins outright from the crypto markets. . 

    In the early days of crypto, it was possible to use your own laptop pc to solve any of the blocks in the chain and earn yourself a coin for your efforts.  Each confirmation of a transaction  will place a new block for the Doge network, for which there will be a reward for the miners in the form of more Dogecoins.

    Every cryptocurrency has different mining systems. Here is a comparison of Dogecoins and Bitcoin, the leading cryptocurrency in the world.

    DogecoinBitcoin
    AlgorithmScrypt coinSHA-256
    Block Time1 minute!10 minutes
    Difficulty2,798,2523,511,060,552,899
    Reward10,000 DOGE12.5 BTC

    Notes:

    1. Algorithm: Rules for mining new currency aka hashing algorithm
    2. Block time: Average time for a new block checked and added to the chain. It varies across time. 
    3. Difficulty: Difficulty level to mine a new block of currency. It varies across time. 
    4. Reward: Amount of new currency rewarded for each new block mined. It varies across time. 

    How to mine Dogecoin?

    how to mine dogecoin

    There are 3 ways to mine Dogecoin: solo mining, pool mining and cloud mining. We’ll explain one by one to see what the difference is between them. 

    1. Solo mining

    You are mining on your own. It means you need to spend more money on the most modern and updated equipment and pricey utility fees by yourself. However you get to keep all the rewards to yourself .

    In some cases, people have spent a whopping $500,000 for just building the mining gear alone. This is not including the electricity bills that are usually enormous for an operation of that size. If you’re not careful, the electricity bills could eat into your profits without you realizing.

    1. Pool mining

    It’s like a group project. You have less work to do but you need to share the pride and achievement. At Dogecoin mining, you will have an easier time earning coins, but the rewards have to be shared. 

    Before joining a pool, check out their calculation for the payouts of each member and consider the extra pool fees needed. There are few options online for pool mining. So do research about all of the options before you join the pool.

    1. Cloud mining

    Pay for a group to mine for you. This is for those that prefer not to invest too much effort and time for mining Dogecoin. You can rent machines from a data center and ask them to mine for your behalf. This way might be the most costliest among the 3 options, since it is time-locked and the price might drop during the agreement. Furthermore, electricity bills and other costs need to be covered too. 

    Things needed to mine Dogecoin

    Other than the electricity itself, there are 3 things needed to mine Dogecoin which are hardware, software and a crypto wallet. 

    1. Hardware

    Any Windows, Mac OS or Linux system is needed to start mining. Basic machines like CPU can be used but it will take a long time to succeed. Also, your computer will end up overheated or getting damaged.

    GPU mining is recommended, especially those with graphic cards. Alternatively, you also can use Scrypt ASIC miner which is dedicated mainly for crypto like Dogecoin. 

    1. Software

    The software will differ depending on the hardware you use. Here are the softwares recommended for different hardwares:

    • CPU: CPUminer
    • GPU: EasyMiner, CGminer, CudaMiner
    • Scrypt ASIC: MultiMiner

    Be careful to select the legit mining software, or else the fake ones will harm your PC and investment. So double check before downloading. 

    1. Crypto wallet

    Digital wallet is not enough to secure your Dogecoin if you are serious about mining it. Since you have invested so much in this process, why not secure it further by having a cold crypto wallet?

    dogecoin digital wallet

    You don’t have to worry about being hacked  and keep your profits safe. 

    Conclusion

    We don’t know whether Dogecoin will go up in price again or plummet to oblivion. Will Elon Musk put more trust in it or is it just for clout? That’s up to you to discover. 

    However when mining Dogecoin, one should always balance the costs to run the mine and the potential returns before deciding whether it is a good option.  

    Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.

  • What is Privi Protocol and How Does It Benefit Content Creators?

    What is Privi Protocol and How Does It Benefit Content Creators?

    Privi Protocol is the new metaverse for content creators. It is a blockchain-based complete ecosystem that brings together decentralized social and finance to benefit the creator economy as a whole. A few features of the Privi metaverse are:

    What is Privi?

    In simple words, Privi is a crypto ecosystem built especially keeping in mind the creator community. 

    The creator community is the backbone of any social media (Instagram, Facebook, YouTube). However, while they slack, their creations help others to fill their pockets. 

    And, it’s not just filling their pockets, these hugely popular platforms take full control of the creations as well. For instance, YouTube recently updated its policy to place ads in between videos. This is done without the consent of the creators and 100% of the profit made from these ads goes to YouTube. 

    Privi, as a decentralized blockchain system doesn’t allow this. Your content will work for you and not some middlemen. You will have full rights and control over what you create. 

    Indeed, with Privi, creators will have more control over their creations and can also make money from all the hard work they put in to create content.

    Privi decentralizes social and finances by riding on blockchain technology. And, by pairing this decentralized social and finance together, Privi gives back control of content to its creators, while also benefitting them and their followers financially, which should be the case anyway. 

    Creators can create their own social communities where they will not only be able to directly connect with their fans and followers, without any middlemen milking them, they will also be able to mint their NFTs and social tokens. 

    How Does Privi Work?

    To understand how Privi works, take this example:

    Suppose you are a content creator and you build your own community of followers on Privi. Your followers would all hold a social token that is unique to you to get entry into your community. This way they have direct access to your creations and you can directly interact with them.

    Now, suppose you release new content. Only the followers who hold a certain number of your unique social tokens can access the video. If the video does well, it is not just you who gains but also the followers who have access to the video. 

    It directly benefits the creator community because they have full control over their creations and also benefit directly from them. The followers benefit as well because they too have direct access to the creations without any disruptions or interferences. 

    How can content creators benefit from Privi? You can build your own customizable DAO community networks on Privi, and you can monetize your content creation efforts with the help of tools like DeFi, social tokens, and NFTs. Apart from these financially profitable tools, Privi also offers a 3D immersive experience, DAOs, and more in its metaverse. 

    You already know what social tokens are and how they profit content creators as well as their followers in the blockchain universe. Now let us find out what the other tools are that can profit you as a content creator on Privi.

    How does Privi use NFTs? 

    Suppose you have an idea for a new content for which you need funding. You can create digital NFT pods on Privi and invite investors. All your work will be recorded on the NFT pod, which will increase in value. It benefits both the content creator and their community of followers.

    For example, suppose you are a singer song-writer. You need funding for your next venture. So, you go ahead and create a digital NFT pod for the same with the contract that the investors will have unique access to the songs you create. The followers who purchase the token for the NFT pod are the owners and they can hold the digital pod for returns or trade them. You get your funding and the owners of the NFT tokens get returns too. A win-win situation for both creators and their followers. 

    How can you utilize DeFi for monetizing your content?

    Suppose you are a new content creator on Privi who doesn’t have enough followers yet to fund your content with social tokens and NFT. What you can do is create a smart contract with the help of a DeFi tool to help fund your content initiatives. The investors who accept the contract will receive returns that are promised in the contract. This transparency and lack of middlemen interference are what makes DeFi such a lucrative way of financing content creation on Privi. 

    Privi – Safeguard Your Content

    There is more to Privi than what is given here. The above-mentioned points are just an overview of how Privi can revolutionize the content creator’s community and give back control of their creations to them.

    Privi supports cross-chain communication and the future plan is to integrate many more blockchains. 

    Privi is already integrated with ethereum blockchain, which allows instant exchange of internal and popular tokens through atomic swap. It also plans to be secured under the shared security model and become a para chain on the relay chain of Polkadot. The platform also aims to connect with bitcoin to allow easy BTC transactions in and out of the Privi network. 

    What are Privi Tokens?

    Privi tokens are your tickets for entering the Privi metaverse and start joining communities, creating content, and monetize your efforts. 

    The Privi token utilities are as follows:

    • Covers transaction fees of free to 4%
    • Are stakes for consuming content and also for earning interest 
    • Dictates priority for verifying profiles, pods, and communities
    • When staked, accompanies voting rights within the decentralized network

    However, this is not all, there is more on the way. Privi aims to launch the following soon:

    1. The Privi Data Coin (pDATA) – It is a data asset class that are exclusive to advertisers on the network. They can not only buy and sell these tokens but also transfer to other users for conversions and impressions. You can think of it as a ‘funnelling’ system that will help content creators on the platform to grab eyeballs, attract more conversions and clicks, and in turn they themselves will receive pDATA in their wallets. 
    2. Insurance – As a content creator you can choose to also insure your creations on the platform. There will be decentralized insurance pools with both anonymous and known underwriters. The insurance pool will come complete with a native Privi Insurance Coin (pINS) and a digital claims court. 

    The Privi tokens are up for presales too, if you are interested. The public launchpad according to the release and vesting plan from TGE is unlocked and the presale and public sale allocation is 32%, the valuation of which is $300,000. 

    Conclusion

    If you are a content creator tired of fighting the industry leading middlemen who ride on your hard-work to make millions, Privi is your best bet to take the control back. Blockchain is the future and Privi exclusively utilizes the technology to enhance the creator community. Now content creators can connect directly with followers and make money that profits them and their followers most. 

    Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.

  • Risk Management Strategies in Crypto Derivatives Trading

    Risk Management Strategies in Crypto Derivatives Trading

    What is Derivatives Trading?

    A derivative is a contract based on an underlying financial asset such as a stock, bond, or currency. The value of the underlying asset is subject to changes according to market conditions. 

    Traders can use derivatives to earn profits by speculating future price movements of the underlying asset, a strategy becoming increasingly popular among cryptocurrency traders.

    Why the Need for Risk Management?

    The cryptocurrency market is volatile and speculative.

    Everyone will take losses, including the most experienced professional traders. That is the name of the game. 

    Without risk management, a trader could deplete their budget and the game is over. The most important goal is to stay in the game. By analyzing platforms like Online Casinos Schweiz, traders can gain insights into managing their funds wisely. As long as the trader is still playing, they can make up for losses. 

    For that reason, it’s important to know when to take losses, how to manage risk, and generally aim to make more good trades than bad ones. 

    Important Things to Consider Before Trading 

    First, a trader should determine their total budget. 

    It does not matter if it is $100 or $100,000,000. The essential point is to have a given budget freely available. Traders should not use loaned money, which has to be paid back at a deadline. Using retirement money is not encouraged either. 

    A trader’s budget should be considered as “play money”. If a trader is emotionally attached to that money, these emotions can affect their trading decisions. A trader should aim to be a calm and collected statistician, not a passionate and desperate gambler.

    Once a budget has been allocated, the next step is to look for a trade. There are tools available to find trades such as fundamental, sentiment, and technical analysis. But before entering a trade, a trader should determine the risk size, entry price, and stop loss.

    The general rule of thumb for new traders is to risk at most 1% of the budget per trade. 

    The entry price might be the current market price or the limit set for an order.

    Finally, it is essential to decide a stop loss before one enters a trade. How can a trader pick a stop loss? Technical analysis is the only available method, apart from randomly picking something. A trader can look at support and resistance levels, or trendlines.

    These are the four ingredients for risk management: Budget, risk size, entry price, and stop loss. Having these ingredients will make it easier to manage risks when trading.

    Transaction or Trade Volume

    The volume of a transaction or trade is also known as “position size”. The position size is defined in relation to a trader’s risk tolerance and the size of their budget. 

    What are some risk management formulas that traders can use to determine their position size?

    Here is one example:

    Position Size = (Risk x Budget) / (Entry Price – Stop Loss)

    Let’s say the trader has a budget of $10,000 and wants to buy Bitcoin for $30,000 with a stop loss at $29,500 and a risk of 1%.

    Their position size would be (1% x $10,000) / ($30,000 – $29,500) = $100 / $500 = 0.2. They can buy 0.2 Bitcoin for this trade to stay within their risk tolerance and budget.

    Some consider it advisable to make this calculation before every single trade. It can be tempting to take larger risks. (Zolpidem) However, this can be a recipe for disaster given the volatile crypto markets. 

    It’s always safer to stick to the math and be the calm statistician. 

    A trader can make a spreadsheet, where they can enter the parameters and it computes the position size or risk for them. This way it only takes a few seconds per trade and a trader can easily manage risks with every trade.

    Stop Loss Orders

    Stop loss (or just “stop”) is an order that traders can set to automatically close losing trades. It is the primary tool for risk management because traders can manage trades effectively during abrupt and unexpected market changes. 

    For instance, if there was some reported hacking, it could prompt a large price movement for the asset. If a trader has open trades and they happen to be in the opposite direction of the market movement, then they could be in danger of losing all their invested funds. A stop loss to sell will automatically prevent that from happening, which is why traders should always place a sell stop to avoid considerable losses.

    Traders can also use a buy stop to buy when a target price is hit. A buy stop can be useful for automatically buying into target entry points.

    Stick to the Trading Strategy

    A trading strategy is only effective when a trader sticks with it, in sickness and in wealth. 

    Trading is a matter of getting the law of averages to work in one’s favour, so maintaining discipline is vital for consistent and profitable trading. 

    That being said, a trader’s strategy should be developed to fit their own goals, risk tolerance, and lifestyle. It should be based on reality, not on hope. 

    If a trader tries to copy someone else’s trading strategy without truly understanding it, chances are they will be incompatible with the strategy and will have trouble following it.

    At the end of the day, each trader is accountable for their own trade decisions and therefore must be cautious when deciding on a trading strategy and seeking market opportunities. 

    Avoid Emotional Trading

    There are two main emotions that will try to sway a trader from their strategy: fear and greed. These emotions are the culprits behind FOMO.

    FOMO – the fear of missing out – is when a trader is afraid of missing out on a huge trading opportunity in the market. When FOMO happens, traders are susceptible to abandoning their strategy to chase the trading opportunity. 

    Greed can cause a trader to buy when prices are high because they are afraid of missing out on future gains, and fear can cause a trader to sell when prices are low because they are afraid of losing too much.

    Fear and greed are amplified when a trading decision is based on hype rather than research and calculated strategy.

    Understanding one’s emotions and keeping them under control will help traders avoid taking uncalculated risks caused by FOMO, and other emotional trading mistakes such as revenge trading.

    Revenge trading happens when a trader tries to force a trade to recover from a loss. It’s driven by anger suffered from the loss and lust to make it all back quickly. This type of trading can easily cause a trader to invest more than they can afford to lose.

    When a trader is overexposed in an asset, they aren’t trading or investing, they are gambling. When one gambles in general, things start going wrong, both logistically and psychologically.

    Final Words: Risk, Reward, and Statistics

    General wisdom says that it is best to invest and trade using small amounts of the total capital set aside for cryptocurrency.

    That wisdom is rooted in two general concepts: 

    1. Risk / Reward
    2. Statistics

    Statistically, the larger the bid size, the more potential risk / potential reward per position. 

    Reward is nice, but to ensure rewards over time it is vital to limit risk.

    The reality is that the risk of large bid sizes (relative to the total budget) outweigh the potential rewards statistically, over time, on average.

    Consider a budget of $100. Now consider using that entire budget and losing 50% twice in a row, as opposed to using half the budget and doubling it twice. One leaves you with $25 and the other gets you to $225.

    If $100 turns into $25, getting back to $100 will be a real challenge.

    But if 5% of $100 is risked, that’s a total of $5. Even if lost, getting back to $100 from $95 is much easier. Sure, it will take more time to get to $225 using smaller bets, but statistically there will be many more opportunities to make gains and avoid losses.

    There will be more room for skill, and less reliance on luck. Remember that anyone can get lucky, but luck can and usually will run out. Statistics are usually a safer bet.

    Sources:
    https://phemex.com/blogs/risk-management-in-cryptocurrency-derivatives-trading
    https://www.coininsider.com/risk-management-in-crypto-trading/
    https://learn.bybit.com/trading/crypto-trading-risk-management/
    https://www.axi.com/int/blog/education/5-effective-ways-to-fight-revenge-trading#:~:text=Step%20back%20temporarily&text=Take%20a%20day%20off%20or,consider%20revising%20your%20trading%20plan
    https://cryptocurrencyfacts.com/the-basics-of-risk-management-and-position-sizing-in-cryptocurrency

    Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.

  • Best Crypto Savings Accounts 2022

    Best Crypto Savings Accounts 2022

    Let’s be honest, traditional banking methods are starting to lose their value. Brick-and-mortar banks are paying disappointingly low rates on savings accounts these days. So if you want a higher return for lending out your money, it might just be the right time to explore alternative routes to engage your idle cash.

    More and more investors are exploring the advantages of cryptocurrency savings accounts. A crypto savings account allows you to enjoy the benefits of an old-school savings account but with the growth potential of cryptocurrencies.

    In this guide, we will explore some of the best crypto savings accounts for you to earn interest with your crypto assets.

    What is a Crypto Savings Account?

    The concept of crypto savings accounts are similar to traditional savings accounts. You put crypto assets into your crypto savings account, which are then lent on your behalf by a third party. The difference with a traditional account is that instead of dealing with fiat currency you will keep your funds in the cryptocurrency of your preference. 

    If you are looking for high returns but don’t want the risk of volatility in cryptos like Bitcoin or Ethereum, you can also choose to earn interest on stablecoins that offer high rates with more stability. Stablecoins are fixed to the value of the US dollar so you will not be exposed to cryptocurrency price fluctuations. 

    The best crypto savings accounts offer up to 12% interest on stablecoins and lets you earn 6% interest on popular assets like Bitcoin and Ethereum.

    What are the Best Crypto Savings Accounts for 2022?

    With so many players in the market, it may help to compare crypto interest rates side-by-side before deciding on where to put your money. That being said, high interests should not be the only consideration for choosing a crypto savings account. Some other factors to consider are supported coins, compound interest, loan-to-value rates, withdrawal restrictions, transaction fees and security. You should always choose a platform that best fits your needs.

    Let’s have a look at some of the best and most trusted crypto savings account providers for 2022.

    Nexo

    nexo crypto savings

    Nexo boasts a high yield of interest, as high as 20% APY, on a wide range of cryptocurrencies. It also has a minimum lock-up time below 24 hours, which means that the interest is paid on a daily basis. The platform also has security measures like two-factor authentication (2FA), login alerts, and withdrawal confirmation.

    With no account minimums and a tiered withdrawal system, Nexo allows you to make instant transfers with no fees or restrictions. You may withdraw any amount for free up to the percentage of NEXO tokens you possess. A Mastercard debit card is also available and accepted by millions of merchants worldwide.

    NEXO token owners earn bigger interest rates on savings accounts. Daily compounded interest is credited to your account, so there’s no need to wait a month to begin earning passive income.

    Despite the fact that the platform is jam-packed with features, it is geared toward novices. It is simple to learn and even easier to get started.

    Highlights:

    • Daily payouts
    • No minimum deposit
    • Tiered withdrawal limits
    • Clean layout and shallow learning curve

    Consensus:

    Best for daily interest and beginners

    Gemini Earn

    gemini earn crypto savings

    Since its inception, Gemini has best been known for its unbeatable high-level security. When a certain amount is deposited, a vast majority of it is stored offline, in an air-gapped cold storage system, and only a small amount is stored in hot wallets. This minimizes the chances of theft and malware attacks. Gemini also provides two-factor authentication (2FA) and bug bounty to prevent hacking. According to reports, Gemini has secured the highest amount of insurance, around $200 million.

    With Gemini Earn, you can receive up to 8.05% APY on your cryptocurrency, including stablecoins. Gemini is highly rated, secure, and simple to use for basic functions like making a trade or linking to external bank accounts. There are some good educational tools available on the website and app and it also offers competitive rates, a broad variety of cryptos, and a solid yield on stablecoins.

    Gemini is a sophisticated trading platform that is ideal for amateur and experienced traders and investors of all skill levels. However, the fee structure for small transactions is expensive, as is the case with most exchanges. There is no linked debit card but you can shop at a variety of internet retailers through their mobile app.

    Highlights:

    • Most safe and secure provider
    • No minimum deposit
    • No withdrawal fee, but costly transactions fee and convenience fee
    • No collateral required for loans

    Consensus:

    Best for security

    Binance Earn

    Binance earn crypto savings

    Binance Earn is the one-stop crypto interest solution from Binance. With Binance Earn, you get a complete suite of staking and savings products for earning passive income on your crypto holdings without any trading involved. There are more than 60+ cryptocurrencies and stablecoins to choose from and you can earn interest under fixed or flexible terms.

    Users can select between regular savings products, staking, and DeFi solutions, each with its own risks, terms, and returns. These include Savings with flexible or fixed terms, Locked Staking, DeFi-Staking, ETH 2.0 Staking, Liquid Swap, Launchpool, and the BNB yield aggregator Vault.

    If you’re not interested in trading but want to increase your holdings, the interest-bearing products from Binance are worthy of choice. While the many features can be overwhelming at first, the savings and staking solutions from Binance could potentially create a passive income if you’re willing to learn how to use them.

    Highlights:

    • Flexible and locked terms
    • Minimum deposits varies
    • Largest cryptocurrency exchange in the world
    • Overwhelming for beginners

    Consensus:

    Best for experienced traders looking for flexibility

    YouHodler

    youhodler crypto savings

    YouHodler is a European bank-like crypto asset management platform with offices in Cyprus and Switzerland. The platform focuses on long-term cryptocurrency holdings, offering attractive crypto savings accounts with high compound interest of up to 12.3% APR and crypto-fiat loans with high loan to value ratios of up to 90%.

    YouHodler has no lock-up periods, and investors are allowed to withdraw or sell their assets at any given time. Accumulated interest is paid out once every week, and the weekly interest period starts compounding as soon as you deposit funds into your savings account.

    YouHodler keeps your digital assets secure with insurance, two-factor authentication, withdrawal stopping feature, and by using a combination of hot and cold storage. It also has bonus features like crypto-backed loans, margin trading, and it also supports NFTs.

    Highlights:

    • Weekly payouts
    • No lock-up period or special tokens required to get the best rates
    • 5 USD minimum deposit
    • Zero weekly or monthly fees

    Consensus:

    Best all-in-one

    Coinloan

    coinloan crypto savings

    CoinLoan ranks next to Gemini when it comes to the safety and security of your digital assets. Apart from their security features, CoinLoan also offers about 26 types of cryptocurrencies offering APYs between 3% to 12.3%, which vary depending on the type of cryptocurrency. 

    Interest for crypto is accrued daily on your deposit and credited directly to your wallet on the first day of each month. There is no minimum deposit requirement.

    Coinloan is a European-based cryptocurrency lending and borrowing platform licensed and authorized in the EU. For security, CoinLoan stores crypto-assets in offline, cold, multi-signature wallets with the digital asset trust custodian BitGo with $100 million worth of insurance from Lloyd’s. Furthermore, all transactions are done in accordance with Cryptocurrency Security Standard (CCSS).

    Highlights:

    • Licensed and certified platform with fund insurance
    • No minimum deposit
    • Intuitive and easy-to-use platform
    • Excellent customer support

    Consensus:

    High yields and second best for security

    Coinbase

    coinbase crypto savings

    Coinbase is one of the most well-known names in crypto wallets as well as holding and trading cryptocurrency. They also cater as one of the best crypto savings accounts for newbies. Coinbase does not loan out the currency that you invest in, and this is what makes it a great alternative to traditional banks because there are fewer restrictions when it comes to funding withdrawal.

    The crypto savings account provides a wide range of currencies with small minimum deposits needed. Coinbase has a simple, top-rated mobile app with additional features. There is a wide range of beginner tutorials, crypto hints, and lessons in the app. You may also get free cryptocurrency by enrolling in certain courses.

    The current APY for stablecoins is around 4% compounded monthly. Because Coinbase is said to be more rigorous in its lending procedures, the yield is relatively modest.

    Coinbase charges a high 0.50% fee on every transaction, which few people are willing to pay for tiny purchases. On most currencies, interest rates are little. More experienced traders may want more sophisticated trading tools and low trade costs.

    Highlights:

    • Well-known and trusted platform
    • Easy-to-use for beginners with plenty resources and tutorials
    • Low yields
    • High transaction fees

    Consensus:

    Best for beginners

    Conclusion

    Cryptocurrencies are quickly becoming mainstream, and an increasing number of providers now offer crypto savings accounts that pay monthly or daily dividends. These platforms provide a great investment opportunity for crypto owners looking for ways to generate passive income.

    With such a high yield, it’s no surprise that crypto owners are increasingly demanding reliable crypto savings accounts to put their money to work for them. However, before you invest your hard-earned savings in any crypto savings account, there are many factors to consider.

    If chosen wisely, crypto-based savings accounts can provide pretty good long term returns. 

    It all depends on the choices you as an investor make in terms of the currencies you choose, the duration and size of your investment, and your risk-taking ability.

  • Blockchain Crypto Browsers: What Are They & Our Top Picks (2022)

    Blockchain Crypto Browsers: What Are They & Our Top Picks (2022)

    Web browsers have become an integral part of life — without them, there would be no easy way to navigate the internet. Even if you are not familiar with the term “browser,” you have definitely used one before. Google Chrome, Apple Safari, Mozilla Firefox, and Brave are just some of the major browsers available today. 

    When you visit a website, your browser sends a request to the server where that website is located. The server sends back the content you see on your screen. Seems simple enough. But then what about crypto browsers? 

    What is a Crypto Browser?

    If you have not heard of a crypto browser, it is likely because many people also refer to them as blockchain browsers. Both terms refer to any web browser that supports Web 3.0 technologies, such as blockchain. More specifically, these browsers bridge the gap between today’s Web 2.0 experience and the decentralized internet envisioned by Web 3.0 enthusiasts. By making decentralized protocols accessible through a familiar interface, crypto browsers provide a critical gateway to the decentralized ecosystem, especially for newcomers.

    Almost all crypto browsers integrate a crypto wallet that allows you to buy, sell, or store your cryptocurrencies. While some of these crypto wallets are built into the browser (aka “browser-native”), many operate as extensions. For example, the MetaMask and Phantom browser extension wallets facilitate crypto transactions on the Ethereum and Solana blockchains, respectively. 

    In addition to crypto wallets, some crypto browsers integrate marketplaces for decentralized applications (dApps). Finally, certain crypto browsers also provide incentives that reward everyone who uses their browser. These incentives include crypto payments and mining rewards.

    How Crypto Browsers and dApps Interact

    Decentralized applications (dApps) are similar to the centralized apps found on your computer and mobile device. However, unlike centralized platforms such as Apple Music or Spotify, dApps are built on decentralized blockchain networks. Instead of using the HTTP internet language to communicate with the web, dApps communicate with the blockchain using smart contracts.

    Browser-based crypto wallets have become a common portal to Web 3.0 because they facilitate convenient dApp interactions. These dApps can be games, decentralized exchanges (DEXs), decentralized finance (DeFi) protocols, and more. Most of the dApps you access through a crypto browser will look like a regular website. However, you cannot interact with these platforms without a crypto browser. For example, the Uniswap DEX looks like a typical website on the front end, but to access the back end dApp, you will need an Ethereum-compatible crypto browser.

    It is important to note that browser crypto wallets are compatible with a specific blockchain. For example, MetaMask will interact with dApps built on Ethereum, while Phantom only connects with dApps on Solana. As a result, you may have to install more than one wallet extension on your crypto browser. If you prefer a more secure option, select a browser with a built-in wallet that is compatible with the dApps you will use most often.

    DApps That Can Be Accessed Using Crypto Browsers

    So you now know that crypto browsers allow you to interact with Web 3.0 technologies using a familiar interface. However, you might be wondering what kind of dApps you can access with your crypto browser — let’s take a closer look at some examples.

    Decentralized exchanges (DEXs) 

    DEX protocols such as Uniswap (Ethereum) and Pancake Swap (Binance Smart Chain) can communicate with crypto browser wallets. This functionality lets you hold crypto in a non-custodial wallet while keeping your funds available for trading.

    Borrowing and lending protocols 

    Similar to DEXs, borrowing and lending protocols can communicate with your crypto browser wallet. For example, if you connect your non-custodial wallet to the Compound protocol, you gain the ability to borrow or lend several different cryptocurrencies.

    Payment networks 

    Protocols like xDai Bridge and OmniBridge allow you to “wrap” cryptocurrency so you can use it on a faster, Layer 2 blockchain network. For example, you might connect your wallet to xDai Bridge to convert ether ($ETH) to wrapped ether ($wETH) on xDai.

    Games and non-fungible tokens (NFTs) 

    Crypto browsers can also enable access to gaming dApps and NFT marketplaces. For example, you might use your non-custodial wallet to visit the OpenSea marketplace to purchase an Ethereum-based NFT or the Binance Chain Wallet to play My DeFi Pet.

    Qualities of a Good Crypto Browser

    When it comes to cryptocurrency, privacy and security are the most important qualities to look out for. The platform you use for dApps and trading crypto carries most of the responsibility of keeping your wallet and identity safe. But you still need a secure browser that protects your passwords and browsing history.

    When deciding which crypto browser is best for you, consider the following questions. Does the crypto browser integrate privacy features like ad blocking, tracker blocking, or a VPN? In addition, does the crypto browser use a built-in wallet or rely on extension wallets? Finally, does the crypto browser issue incentives as crypto or mining rewards?

    • Built-in VPN  —  Several crypto exchanges, including popular ones like Binance and Kucoin, already let you trade crypto anonymously. If you want to take things a step further, getting a browser with a built-in VPN is a smart choice. The VPN hides your actual IP address and encrypts the traffic from your device.

    If your preferred browser does not come with its own VPN, you can always install one as an extension. Just make sure to install one with a solid reputation.

    • Built-in Wallet  —  For now, having a browser with a built-in wallet is more of a convenience than a necessity. You can store and keep track of your coins within the browser, saving you from sharing your data with another platform. 

    Do you want a browser that is an active part of your crypto operations instead of a conduit to a crypto platform? Getting one with a built-in wallet helps. But you should know that this is an emerging feature, and there are not many browsers that carry this feature yet. You will have to choose from a pool with limited options if this is important to you.

    • Fast  —  In trading, when the difference between profit and loss can be quick decisions during market changes, you do not want to be stuck with an unreliable, unresponsive browser. You need something fast and dependable. Thankfully, a lot of browsers are great at this. Several of them are built on the Chromium engine, the fastest in the world.
    • Tab Stacking  —  Another non-technical quality that serves cryptocurrency operations is tab stacking. Your research on different assets involves opening multiple tabs. It is easy to lose track of the exact website for a piece of information. 

    With tab stacking, you can arrange every tab according to your preference. You can open a stack that contains multiple tabs about Ethereum and another on Bitcoin. That way, if you need to find a piece of information, you know where to find it.

    The Best Crypto Browsers in 2022

    Knowing the essential qualities you should keep an eye for in a crypto browser, let’s explore some of the best browsers that fit the criteria.

    Brave

    Brave boasts two things: speed and privacy. Both result from its ad-stripping strategy. Even for non-crypto traders, Brave has emerged as a solid competitor among legacy browsers. What sets Brave apart is its aggressive anti-ad attitude. The browser was built to strip online ads from websites and its maker’s business model relies not only on ad blocking, but on replacing the scratched-out ads with advertisements from its own network. 

    Brave also eliminates all ad trackers — the page components advertisers and site publishers deploy to identify users so that they know what other sites those users visit or have visited. Trackers are used by ad networks to show products similar to ones purchased, or just considered. This is why you sometimes keep seeing the same ad no matter where you navigate.

    The Chromium-based browser calls its built-in ad and cookie blocker Brave Shield. It also allows you to choose if you want websites to recognize your device and script blocking. This ad-blocking feature not only makes the browser secure, but it also makes it faster. Since ad scripts are not allowed, websites tend to load faster. There is a built-in VPN too if you want to take your privacy to the next level.

    Aside from general security and privacy, Brave has a crypto wallet built into the browser. You do not have to install an extension or go to a website to access your coins. It also means you are not susceptible to phishing scams. Brave Wallet is CoinGecko sourced and has support for multiple coins, NFTs, and Web 3.0 dApps. If you already have assets in other wallets, such as Metamask, Ledger or Trezor, you can import them to Brave Wallet.

    Brave Rewards: Earn while you browse

    Brave browser’s Brave Rewards program lets you earn Basic Attention Token ($BAT) for free. Whilst Brave already has industry-leading ad and tracker removing features, it has a choice to allow users to view Brave Private Ads.

    Brave Private Ads are advertisements on the Brave browser that users can opt-in to view. Some examples of ads include BlockFi, Verizon, Etoro and Bitpay. These ads will be either a background image on a new tab, a card on your Brave News feed or push notification. But unlike other web browsers out there, Brave will reward users for viewing these ads.

    Users get the Basic Attention Token ($BAT) for viewing these ads. $BAT can be traded on exchanges with other cryptocurrencies and stablecoins, exchanged for gift cards, for tipping websites/content creators and more.

    Crypto Browser Project

    Crypto Browser Project is a brand-new browser dedicated to cryptocurrency launched by Opera. The Crypto Browser Project is currently available in beta on Windows, Mac, and Android, with an iOS version coming soon. The browser has Web 3.0 integration at its core to make it easier to interact with blockchains, providing features like a built-in crypto wallet, easy access to cryptocurrency/NFT exchanges, support for decentralized apps (dApps) and more. The aim is to simplify the Web 3.0 user experience that is often bewildering for mainstream users.

    A key feature is the built-in non-custodial wallet that will support blockchains including Ethereum, Bitcoin, Celo and Nervos from the get-go. The project has also announced partnerships with Polygon and other networks. The idea is to let you access your crypto without the need for any extensions, with the option of using third-party wallets as well. You can purchase cryptocurrencies via a fiat to crypto on-ramp, swap crypto directly in-wallet, send and receive it and check your wallet balance. It even has a secure clipboard that ensures your data security when you copy and paste.

    Another stand-out feature of the new browser is its “Crypto Corner,” which contains all the latest blockchain news, crypto-related podcasts, and vlogs and keeps track of upcoming airdrops and crypto events. The Crypto Browser Project also comes with a sidebar that takes you to Crypto Twitter, Discord, Reddit, and more, as well as Telegram and Whatsapp.

    Opera has said that the browser will be released as open source soon, adding that the goal is to “integrate these blockchains and decentralized domain naming systems into our crypto browsers, allowing you to enjoy them all.”

    Osiris

    Osiris is a blockchain-based browser that emphasizes easy access to decentralized apps and acts as a link between different blockchains. It comes with all the basic functions, clean and easy-to-use interface, and focuses on privacy. Osiris also supports peer-to-peer (P2P) file hosting similar to Brave browser. It is the world’s first web browser to work on its blockchain network. 

    Osiris browser comes with its unique crypto wallet called Metawallet. Not to be confused with the Metamask wallet, this wallet is embedded in the browser and only available on Osiris.

    The main advantage of Metawallet is that it acts as a layer 2 solution, allowing faster transaction speeds. It will also act as a link between different blockchains- all this without excessive transaction fees. It currently supports ETH, TRX, and ACE, with DOT and BSC coming soon.

    Osiris Armor is an in-built ad blocker that blocks intrusive ads on websites and YouTube videos. It will block all data collection and tracking scripts present in cookies. You can see all the ads and cookies it has blocked so far- the implementation works well and helps improve privacy. By blocking ads, Osiris is able to offer fast page loading and reduced mobile data charges while allowing users to access content without interruption.

    The Osiris browser supports various search engines that are interchangeable according to your preference. You can also personalize your browser with bookmarks and extensions without having to worry about personal data collection.

    Osiris also features optimized support for dAppstore. This is a marketplace where you can easily find and access various decentralized apps and projects. This integration with the Osiris browser allows these projects to reach a wider audience. It allows easier access while eliminating any security threats and issues.

    Opera Reborn 3

    Opera is a familiar name in web browsers. It is fast and helps save a lot of data which is why it has a very large user base. It also comes with a built-in ad blocker and personalized browsing that helps provide a better and tailored browsing experience. Opera recently launched a new version of its browser called the Reborn 3 with a built-in crypto wallet, a free unlimited VPN, and a Web 3 explorer for accessing blockchain apps.

    Opera Reborn 3’s multi-wallet allows you to store and swap tokens and cryptocurrencies. This wallet will act as your online identity on decentralized platforms where you can link your wallet address to sign in. Currently, this wallet supports networks like ETH, TRX, and CBK. Support for more networks will be added in time.

    Opera Reborn 3 also supports access to decentralized apps and websites, including the dAppstore, which is a huge marketplace for decentralized apps. These features are also available on mobile for Android and iPhone users.

    Tor

    Before cryptocurrency went mainstream, Tor had a bulletproof reputation as a private and secure web browser. It does not function like a typical browser. Instead, it routes your data through the Onion network (a series with random nodes), making your traffic untrackable and anonymous.

    Tor also encrypts your traffic thrice during this process. So, not only are you untraceable, no one can learn your identity or track your online behavior. This means that on top of using an anonymous exchange like Binance, no one can track your browsing history and traffic.

    The security features do not end there. Tor also comes with HTTPS Everywhere, ensuring you always open the safer version of any website you visit. This reduces the chances of you opening a fake crypto exchange or wallet site via phishing. There is also NoScript, a program that blocks Flash and Javascript, which hackers can use to attack you.

    Tor does not save your browsing data because it deletes them after every session. Also, every window acts as a separate private browser, so no data is shared between different windows. All of these features make Tor the best option if your priority is security and privacy. 

    That being said, Tor is slower than most browsers since it routes your traffic through multiple network nodes. It can take up to 30-40 seconds for a page to load. Not unusable, but not excellent either. It is also limited to trading functions on centralized pages and does not have the ability to interact with decentralized apps.

    If those tradeoffs are something you are willing to compromise, then you can rest easy knowing that your coin assets are safe, and everything about your online behavior is secure, down to your searches. Tor uses DuckDuckGo, a privacy-focused search engine that does not collect or share your data.

    Conclusion

    Cryptocurrencies are rising in relevance as a store of value and mode of payment. Since they are entirely digital, holders need trustworthy, safe, and convenient web browsers that allow users to access them easily. 

    Development in Web 3.0 is also going on very fast, with more products adopting the decentralized web, sidelining the current-gen Web 2.0. Hence, we will likely see more Web 3.0 products and services emerge this year.

    Web 3.0 users might have different criteria while selecting their favorite browser, but it is common understanding that a good browser has to provide convenience, privacy, and most importantly ensure asset security. The Internet is a common good and the browser is the key to freely open doors within it.

    Sources:

    https://medium.com/acent-tech/comparison-of-top-3-browsers-osiris-opera-brave-edfc3d74fda3

    https://blogs.opera.com/crypto/2022/01/opera-crypto-browser-project-web3/

    https://brave.com/learn/what-are-crypto-browsers/

    https://browsertouse.com/blog/5783/open-email-links-in-gmail-mac-windows/

    https://rigorousthemes.com/blog/best-browsers-for-cryptocurrency/

  • Spool: Weaving funds out of diverse threads of income

    Spool: Weaving funds out of diverse threads of income

    Spool is a Decentralized Finance (DeFi) protocol geared towards ordinary users who want to earn yield on their own terms in a simple and straightforward way.

    Background

    DeFi has been an exciting avenue in the field of cryptocurrencies. Based on the Ethereum blockchain, it uses smart contracts, which are automated agreements used to automatically enforce transactions without the need for a government or a bank. 

    A vast new set of Ethereum-based protocols have emerged, giving rise to decentralized financial products that automate loans, savings and even insurance. According to Nottingham Trent University associate professor of Cyptofinance and Digital Investment Jeremy Eng-Tuck Cheah, the total value locked up in DeFi contracts grew rapidly from US$2.1 million to US$6.9 billion from September 2017 to August 2020, and continues to rise.

    spool
    Spool: Yield for the world, Fuel for DeFi

    What is Spool?

    Luke Lombe, a founding partner of Australian digital asset management firm Faculty Group and Spool contributor, describes Spool as DeFi infrastructure that allows users to create a fully diversified, yield optimised, auto-compounding and risk mitigated DeFi portfolio – in a simple and straightforward manner.  

    According to Lombe, these portfolios, called Spools, cover complex tasks such as risk evaluation, risk/reward based portfolio construction and rebalancing to deliver an investment’s most optimal yield from the custom strategies deployed based on the user’s indicated risk tolerance.

    Arguably, Spool has three synergistic features. The first is accessibility. Its straightforward set-up won’t repel users who might not have otherwise delved into DeFi. The second is diversification. Spools allow diverse portfolio management automatically, easing workloads and reducing barriers for entry. Thirdly is economies of scale. With the automation, having more users simply makes Spool more cost effective to run.   

    How to set up a Spool?

    With just one stablecoin deposit and five more steps done via a simple interface, a user can set a Spool up, which contributor Phil Zimmerer describes as a “vault”. And then the user kicks back as the Spool does the work. The steps are as follows.

    Step One: Choose a preferred deposit currency 

    “We’re starting with stablecoins, essentially USDC, USDT or DAI. That will expand to capture more volatile assets like Bitcoin or Ethereum, which are all subject to DAO (Decentralized Autonomous Organization) vote,” says Lombe.

    Lombe goes on to explain that Spool is by its very nature a DAO first and foremost, which will vote on various proposals, including choices of new currencies before they are enacted. Stablecoins are likely chosen because they are, well, relatively stable cryptocurrencies, as they derive their value from an underlying external asset, like a national currency or gold. USDC and USDT (also known as Tether) are pegged to the US Dollar, for instance.

    how the Spool token works
    How the Spool token works

    Step Two: Choose a risk model

    Lombe describes a risk model as essentially a set of criteria that a user would use to assess risk in DeFi. For example, a risk model could factor in Time on Market, as the longer a protocol has been around, the safer it’s likely to be. 

    From this, Spool creates a risk score for each protocol. For instance, Aave might get a 7.5 out of 10 or Curve a 6.8. This helps the user in figuring out how to diversify their portfolio. He goes on to explain how the nature of DeFi investment makes risk-assessed diversification crucial: 

    “I imagine people would understand DeFi risk as pretty binary. It’s either your money’s safe or your money’s gone (laughs). Generally it’s a matter of a smart contract failure as opposed to an exploit or a hack or potentially a rug pull.” 

    Step Three: Choose some protocols 

    Choosing a risk model allows a user to then select various protocols, such as the ones mentioned in the beginning of this article, that they can place their funds in. 

    “So Curve, Compound, Aave. All the ones we know generally are included in this list. More will be added subject to DAO vote. So you basically create your ideal portfolio based on the protocols that you like and know,” adds Lombe.  

    Protocols such as Compound and Aave allow users to trade loans and earn interest via smart contracts, while Curve allows for stablecoin transactions at optimised rates. 

    Spoolnomics in a nutshell
    Spoolnomics in a nutshell

    Step Four: Select Risk Tolerance 

    Next, a user chooses their Spool’s risk tolerance from a sliding scale. According to Lombe, Spool’s own protocol will factor in the selected risk tolerance level as well as the yield and risk for each of the chosen protocols and then dynamically shape a user’s portfolio and re-weight it according to the parameters set by the user. 

    “But it’s not static. As the yield changes (which it does on a daily basis), the algorithm will essentially rebalance your portfolio to ensure that you’re constantly getting the most risk-optimised or yield-optimised and risk-mitigated return.” 

    Spool’s adjustments do this under efficiencies. Ethereum’s gas fees, or the compensated cost of energy used to compute a transaction, can be quite high, as is the cost of rebalancing a portfolio to account for them. So Spool uses economies of scale to mitigate such costs. As Lombe states:  

    “For example, if your Spool algorithm says ‘move your funds from Curve to Compound’, and mine says ‘move from Compound to Curve’, a tracer smart contract simply reassigns the assignment, so the funds stay where they are. Just like if you’re transferring money to someone at the same bank, the bank doesn’t move anything, it just moves the number from one to the other. 

    Lombe adds that more likely, funds moving in the same direction will be batched together, sharing the cost of transaction fees. With numerous other efficiencies in mind, more users actually makes Spool more energy efficient.

    Spool gets more efficient with more capital
    Spool gets more efficient with more capital

    Final Step: Name Your Spool

    Finally, a user simply has to name their Spool and assign a performance fee, if desired. This fee sets how much the user is paid by anyone who uses their Spool to invest. Lombe states that: 

    “You can say, ‘I’ve created a fully diversified portfolio, it’s going to be automatically managed and optimised for you. All you have to do is click on this link’, and they deposit their funds and then you get a small fee, essentially. And that’s only a performance fee, so the user’s actual initial contribution won’t be diluted at all.”

    By creating a Spool and sharing it with others, it allows people intimidated by DeFi choices to join in. This then increases economies of scale. Essentially, an end user becomes a kind of “sub-broker” within the Spool network. Major contributor to Spool Phil Zimmerer explains:

    “There are going to be users who don’t want to do due diligence, are not able to or it’s simply not worth their time. They’re more likely to trust a person or a group or a friend. And I’m uncomfortable giving financial advice. I think this resonates with a lot of people. So you can create your own “vault” and front load all your decision making with your knowledge and then you can share that schooling with people.”

    SDK

    However, what’s really interesting about Spool is that on top of what it can already do is its potential to be used as an SDK, or a software developer kit. As Lombe explains:

    “Essentially, it’s a DeFi middleware. Not only can you create these DeFi portfolios, you can fire an SDK useful as a backend for white label services. Essentially, use whatever user interface you have on the front end and create your own DeFi products.” 

    These third party DeFi products could be websites or wallet apps running Spool in the background unnoticed. This could mean a lot of development work saved on such products. 

    When combined with the ability to share Spools, the automation of diversification and yield optimization as well as the efficiencies that work on economies of scale, Spool looks to be a particularly powerful piece of middleware within the Ethereum ecosystem.

    Perhaps more importantly for ordinary people, it allows for better governance of finance – a thing that traditional finance seems to be failing at. As Zimmerer states:

    “Traditional finance is stacked against those who are uninterested in it. It’s sort of kept boring so that people don’t really care about it and don’t really know what’s happening. A very concrete example of this we can see is Covid hits the economy really hard, and then you would also assume that the financial markets should also tank. And what happens is central banks are printing a lot of money and obviously now as a lagging effect we are starting to feel it in terms of inflation.”

    economy reeling because of Covid
    economy reeling because of Covid

    Zimmerer sees inflation as a kind of tax on laypeople, where traditional finance’s lack of accessibility means fewer to offset the same inflation that will not affect traditional finance’s participants. 

    “For me, it’s because we kind of live in a world that forces you to think about the economy. We see a lot more, at least in my social circle, people getting interested in investing and managing their finances. And on a systemic level, even if you’re just a regular person with a regular job, it’s not just enough to dump it into a high-yield savings account, because those yield very little compared to the yields you can get in the rest of the financial market.”

    Cheah notes that the pandemic has driven global interest rates even lower, stating that some jurisdictions, such as the Eurozone, are now in negative territory and others such as the US and UK could follow. Meanwhile Lombe also notes that central banks have had to print more money in the advent of economic collapse, and this drives inflation even higher, eating away at savings yields.

    The people at Spool seem to have an understanding about how serious world affairs influence the lives of ordinary people, and seek to use DeFi to provide solutions to these specific problems. 

    In this climate, DeFi simply looks more profitable. Protocols such as Compound have delivered yields as high as 6.75% for those who save with Tether. But Lombe says that Spool’s role is different. Rather than try and be a new competitor seeking to dominate market share within the Ethereum space, he says Spool is more concerned with what can be seen as the greater good.   

    “What Spool is trying to do is essentially not try to compete with the other farms out there because we’re not a farm, we’re an aggregator of sorts. We’re not trying to take the piece of the existing pie. We’re trying to grow the pie.”

    Spool Token Staking Guide

    The purpose and benefit of staking SPOOL token is to obtain more SPOOL and the voSPOOL governance token. The voSPOOL tokens are distributed to stakers based on the amount of time continuously staked, capped at a maximum of the total number of SPOOL tokens staked. The distribution is calculated based on a weekly epoch up to a maximum of 156 weeks. However, if the staker stops staking their SPOOL tokens at any time, the calculation of the time spent continuously staking resets to 0- this means that their voSPOOL distribution will correspondingly be reset to 0. Here’s a step by step guide on how to stake your SPOOL tokens.

    Step 1: Obtain the SPOOL token. $SPOOL can be purchased on exchanges like Uniswap. To get started with Uniswap, check out our Uniswap review and tutorial.

    Step 2: Go to spool.fi and launch the Spool App on your web browser by clicking on the “Open App” button on the top right hand corner of the page.

    Step 3: Click on “Connect Wallet” to connect your web3 wallet to the app. You can choose which wallet to connect such as Metamask, Ledger, Trezor, Coinbase Wallet etc.

    Step 4: On the app, click the “Spool Staking” tab.

    Step 5: On this page, you can see the amount of SPOOL tokens in your wallet and total SPOOL staked. You can also see the amount of claimable voSPOOL rewards earned and choose to either claim the rewards or stake these rewards. Furthermore, you can use your voSPOOL for voting on governance proposals on this page.

    Step 6: To stake your SPOOL tokens, click “Stake” which will bring up a separate staking window.

    Step 7: Input the amount of SPOOL tokens that you wish to stake, alternatively you can also click “max” which will stake the entirety of the SPOOL tokens in your wallet.

    Step 8: Click “Approve” on both the app page and on your web3 wallet. This will allow the contract to interact and manage your SPOOL tokens.

    Step 9: Click “Stake” to stake your SPOOL tokens and wait for the transaction to be completed. Note that this transaction will cost gas fees. Once your SPOOL tokens are staked, you can unstake them at any time.

    Step 10: Once the transaction is completed, your $SPOOL tokens will be staked. We suggest you then refresh the page to see the updated amounts staked or remaining in your wallet.

    Step 11: On the app, you can click on the “Platform Summary” tab to check the amount of $SPOOL tokens staked, the amount of voSPOOL accumulated, and the claimable staking emissions.

    Step 12: On the app, you can also click on the “SPOOL Staking” tab to see the updated $SPOOL staking rewards.

    Step 13: To claim all your rewards, click on “Claim All Rewards”. A pop-up window will then appear which shows both the SPOOL emission rewards as well as the voSPOOL emission rewards. Click “Claim” to claim these rewards.

    Step 14: Wait for the transaction to be confirmed. Once completed, the SPOOL tokens will be sent to your web3 wallet. Note this will also cost gas fees.

    Step 15: Clicking on “Stake Emissions Rewards” allows you to stake the rewards you have earned. A pop up window will appear and shows all the rewards that can be claimed and staked for both SPOOL and voSPOOL emissions. Click on “Claim and stake” to both claim your rewards and stake them in 1 transaction.

    Step 16: Wait for the transaction to be confirmed. Once completed, the SPOOL tokens will be sent directly to staking and your balance will be updated. Note that this transaction will cost more gas than simply claiming the staking rewards.

    Step 17: Once the transaction has been confirmed, it is suggested to refresh the page to see the updated amounts of staked or claimed SPOOL tokens.

    REFERENCES:

    Spool Official Website (https://www.spool.fi/)

    Ethereum Official Website (https://ethereum.org/en/defi/)

    Jeremy Eng-Tuck Cheah. 26 August, 2020. The Conversation. What is DeFi and why is it the hottest ticket in cryptocurrencies? (https://theconversation.com/what-is-defi-and-why-is-it-the-hottest-ticket-in-cryptocurrencies-144883)

    Coach K. 14 Dec 2021. YouTube. The easiest DeFi tool ever created: SPOOL the e-toro of crypto. (https://www.youtube.com/watch?v=tNzqNoTCXPI&t=42s)

    Boxmining. 2 Dec 2021. YouTube. Game Changing DeFi: Earn Yield On Your Own Terms (Spool). (https://www.youtube.com/watch?v=L0b4nvxPnbI&t=603s)

    Lombe, Luke. 10 June, 2021. Medium. Spool: Infrastructure for Composable Capital Deployment. (https://medium.com/spoolfi/spool-infrastructure-for-composable-capital-deployment-3a86b2fac798)

    Diversification. Investopedia. (https://www.investopedia.com/terms/d/diversification.asp)

    Economies of Scale. Investopedia. (https://www.investopedia.com/terms/e/economiesofscale.asp)

    Decentralized Autonomous Organization (DAO). Investopedia. (https://www.investopedia.com/tech/what-dao/)

    Julian Dossett. Stablecoins: What they are, how they work and how to buy them. 6 Dec 2021. CNET. (https://www.cnet.com/personal-finance/crypto/stablecoins-what-they-are-how-they-work-and-how-to-buy-them/)

    USDC Official Website. (https://www.circle.com/en/usdc)

    Tether Official Website. (https://tether.to/)

    Aave Officail Website. (https://aave.com/)

    Curve Offical GitBook resources. (https://resources.curve.fi/base-features/understanding-curve)

    Software development kit. Wikipedia. (https://en.wikipedia.org/wiki/Software_development_kit)

    FAQs

    What is Spool?

    Spool is a Decentralised Finance (DeFi) application that allows users to create a fully diversified, yield optimised, auto-compounding and risk mitigated investment portfolio – in a simple and straightforward manner. It is also middleware, and can be used to power other applications.

    How is it used? 

    With just one stablecoin deposit and five steps done via a simple interface, a user can set up this automated DeFi portfolio, or Spool up. Choose a preferred currency, a risk model, some protocols to invest in, your risk tolerance, name the Spool and then set a performance fee to charge others than invest in your Spool (in that order). And then, just leave it alone to do its job.

    Why use it?   

    DeFi yields currently seem to be doing better than traditional finance. Amid the global pandemic, inflation threatens to devalue returns from traditional savings. And while getting into Defi could be complicated, Spool is relatively simple and straightforward to use for beginners, and very easy to deal with for experts who are tired of manually managing their portfolios. As more users use it, the more stable it gets, and others can invest in your Spool without having to create their own for the said small performance fee.

  • IX Swap: The Uniswap For Security Tokens & Fractionalized NFTs

    IX Swap: The Uniswap For Security Tokens & Fractionalized NFTs

    Despite the tremendous growth of the decentralized finance (DeFi) industry, it still faces a key problem – the liquidity of operations due to the lack of licensing and market makers in the industry. IX Swap ($IXS) provides a solution through regulatory compliant liquidity pools, automated market making functions for security tokens (STO), tokenized stocks (TSO), and fractionalized NFTs (fNFTs).

    By using blockchain technology to build liquidity and infrastructure solutions for their security token ecosystem, IX Swap is able to provide global trading and access to this untapped asset class. The platform will be the first bridge between decentralized finance (DeFi) and centralized finance (CeFi) to facilitate trading of security tokens through licensed custodians and security brokers which will provide actual ownership and claim over these real world assets.

    The Security Token: A DeFi Solution For Crowdfunding

    Capital raising has evolved rapidly over the years, originating from traditional stock markets in Wall Street. It then moved onto less conventional methods, such as crowdfunding platforms like Kickstarter, which is a different evolution of the same concept.

    One of the newer and more creative innovations in the ever-evolving landscape of capital markets and crowdfunding was derived from the birth of Bitcoin and Ethereum. These innovations allowed blockchain enabled technology platforms to develop ecosystems where tokens were minted – to provide some sort of utility, or just a pure token for their native platform. Such initial coin offerings (ICOs) enabled entrepreneurs to raise money globally from potential users of their products while simultaneously achieving market fit.

    This phenomenon created a new wave of funding into the markets as companies were able to raise millions overnight with a theoretical “whitepaper” with little to no development done on the project. In this overnight, unregulated industry, funding became cheaper and easier compared to raising money through the traditional debt/equity markets. 

    It also attracted sharks that sensed an opportunity to abuse the easy money and lack of regulations. By the end of 2017, the number of ICO scams had increased exponentially, with 80% of ICOs being scams. This led to the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) to step in and take a more active stance towards the industry, targeting companies that the SEC deemed as securities rather than utility tokens.

    As regulatory scrutiny began to rise, security token offerings (STO) became the natural evolution of ICOs. Security tokens provide access to digital asset markets while still adhering to regulatory standards, making it the perfect fit for the digitization and tokenization of certain assets that may be deemed securities.

    What is IX Swap?

    By trading securities, you are trading a right of ownership or claim to an asset in the real world. Therefore, it is no surprise that security tokens and tokenized stocks are regulated assets. To deal with securities, a market maker requires licensing, strict regulation, and the right infrastructure to accommodate trading and the custody of these securities. 

    IX Swap meets all of these requirements, effectively solving the key liquidity problem. IX Swap achieves this by building a blockchain system with infrastructure designed for the STO and TSO (Tokenized Security Offering) ecosystems. The platform could be considered as the “Uniswap” that provides liquidity pools and automated market-making functions for securities.

    Investors of securities will be able to contribute to the ecosystem and issuers of securities will be able to create their own liquidity pools. 

    IX Swap Features

    Some of IX Swap’s main advantages and solutions include:

    • Security — By leveraging blockchain technology, IX Swap is able to provide security and transparency
    • Liquidity pools for tokens/TSO — Holders of STO/TSO tokens will be able to extract liquidity legally for the first time
    • Unique platform — IX Swap is DeFi’s first market-making solution built specifically for STO and tokenized stocks
    • Lending — Users will be able to lend their idle assets to earn passive income
    • Licensed partners — IX Swap has partnered with licensed intermediaries to address the nuances of the securities
    • Reduced fees — Reduced fees compared to 1–2% charged by banks for private asset investments
    • Mining and staking — Holders have the option to earn and grow the value of their assets through liquidity mining and staking
    • IL Insurance — IX Swap has been structured to include an impermanent loss (IL) insurance mechanism to reduce the effect of IL on liquidity providers

    Fractionalized NFTs on IX Swap

    A non-fungible token (NFT) is a unit of data stored on the blockchain that certifies a digital asset to be unique and therefore not interchangeable. NFTs can be used to represent items such as photos, videos, audio, and other types of digital files. The substantial rise in value of many NFTs have given way to the concept of fractionalization. Fractionalized NFTs (fNFT) allow smaller investors to pool resources to purchase fractional interests of an NFT.

    IX Swap will soon allow users to bid and purchase fractionalized NFTs on its platform. According to their roadmap, they plan to roll out this feature in Q2 of 2022.

    Fractionalization provides many advantages for owners, including:

    • Retained ownership while freeing up liquidity
    • Curated fees from fractionalization
    • Access to a larger audience as more investors would have access to a singular NFT
    • Increased utility for NFT through DeFi applications
    • Positive price correlation through fractionalization
    • Lower floor prices for new NFT investors

    Fractionalization also brings benefits for investors, such as:

    • The ability to purchase a fraction of an NFT that would otherwise be too costly for 100% ownership
    • DeFi applications to generate additional yield from holding NFTs
    • Greater liquidity and trading platforms to realize gains from the fractionalized NFTs
    • Portfolio diversification through multiple fractional investments

    There has been significant debate in recent times surrounding the classification of NFTs and if they are securities. OpenSea, one of the worlds largest NFT marketplaces, put a freeze on trading for a project called DAO Turtles given the uncertainty whether these assets were securities.

    According to Chris Donovan, the Head of Legal at UK VC Outlier Ventures,  NFTs can be considered securities under certain circumstances — with one of those circumstances being fractionalized NFTs “embodying rights to royalties,” or sold with the promise of future liquidity and continued services from the issuer.

    By purchasing fractionalized NFTs through IX Swap, owners and investors can rest easy in the event that these assets are deemed securities thanks to the regulations within the platform.

    STO vs NFT: What are the differences?

    Due to the similarities in their characteristics, STOs are constantly being compared to NFTs, and the comparison is justified. STOs and NFTs are both vehicles that provide proof of ownership of an asset, only presented in different ways. 

    The concept behind STOs is relatively simple. Unlike ICOs, where the token is considered a currency or a means of utility, STOs are securities and are regulated assets by government authorities. Herein also lies the key difference between STOs and NFTs: STOs are regulated assets, whereas, for NFTs, they are still unregulated despite having similar ownership rights over an asset.

    The determination of whether an NFT is a security is generally based on the characteristics of the NFT and may differ. For example, you might have a piece of art that you have collected to appreciate the artwork; this NFT would not be classified as a security. However, an NFT that provides ownership over a financial asset or even a house — would definitely classify as a security and would technically be classified as a security token.

    There is no right and wrong to which structure is better, as both STO and NFT structures are excellent in their own rights and are highly innovative solutions to represent ownership over an asset.

    $IXS Token

    The IX Swap ($IXS) token is the native cryptocurrency and utility token for the IX Swap platform and will be freely traded on cryptocurrency platforms. Utilities for the token include:

    • Staking $IXS tokens for a fixed income percentage on the IX Swap platform;
    • Staking $IXS in liquidity pools to receive a portion of the pool profits;
    • Staking $IXS on the platform will provide voting and governance functionalities for the IX Swap platform;
    • $IXS is the native payment token on IX Swap’s first broker/dealer partner platform, InvestaX; and
    • $IXS token holders get priority access to new primary STO listings.

    IXS will be distributed as incentive rewards to ecosystem contributors. IXS paired pools will have boosted returns over non-IXS paired pools. The IXS tokens also have a distinct deflationary economics function to ensure value is created for token holders the more the platform is used.

    IXS token’s deflationary tokenomics:

    • 5% of fees will be sent to a permanently locked vault reducing the overall token supply
    • 5% of fees will also be sent to a vault to purchase IXS tokens; and
    • Rewards earned on the platform will be distributed over time to ensure token inflation is reduced.

    Conclusion

    STOs are bridging the gap between traditional money markets and the new era of digital currencies by tokenizing traditional investment types, such as stocks, bonds and commodities. Tokenization of an asset is among one of the most powerful ways to express and manage an asset, where it is represented directly on the blockchain in the form of a token.

    IX Swap solves the liquidity problem for secondary trading of STOs that is both algorithmic driven and allows for anyone to participate in the allocation of market making capital, and therefore benefit from the subsequent fees of being a liquidity provider. This DeFi solution will bring in a new wave of liquidity to STO trading and solve a key industry problem. (Zolpidem)

    FAQs

    What is IX Swap?

    IX Swap is the world’s first liquidity pool and automated market maker (AMM) provider for security tokens, tokenized stocks, and fractionalized non-fungible tokens.

    What is a liquidity pool?

    A liquidity pool in cryptocurrency markets is a smart contract where tokens are locked for the purpose of providing liquidity for trades.

    What is an automated market maker (AMM)?

    An AMM is a type of decentralized exchange (DEX) protocol that relies on a mathematical formula to price assets using blockchains and smart contracts. Instead of using an order book like a traditional exchange, assets are priced according to a pricing algorithm. Any investor can participate in the DeFi liquidity pools and earn fees as a benefit.

    What is a security token?

    Security tokens are tokenized securities. They are digital forms of traditional securities that live on a blockchain. These tokens could represent ownership of a fraction of any valuable asset, like a car, real estate, or corporate stock.

    What are tokenized stocks?

    Tokenized stocks are tokenized derivatives that represent traditional securities, particularly shares in publicly traded firms on regulated exchanges.

    What are fractionalized NFTs?

    Fractionalized NFTs are NFTs split into smaller pieces by their original owner. Fractionalized NFTs enable investors to own part of an NFT that would otherwise be unaffordable. It also enables the owner to release some of the value in their NFT without selling it fully.

    Official Channels

    Website — https://ixswap.io/

    Twitter — https://twitter.com/IxSwap

    Telegram — https://t.me/ixswapofficial

    Medium — https://ixswap.medium.com/

    LinkedIn — https://www.linkedin.com/company/ixswap

  • 7 Best Crypto Password Managers

    7 Best Crypto Password Managers

    Intro

    Generally speaking, creating strong passwords and protecting those passwords from being found out is a user’s key tenant in their own protection online when using certain services. But creating complex enough passwords that are difficult to guess or hack with a dictionary attack often leaves a bunch of passwords for each service that’s difficult to even remember. 

    You could write it down, but that could be found out. And while browsers like Google Chrome do come with their own password managers, that does leave all your passwords behind one single password that is probably just as vulnerable as any others.  

    Password security is particularly important for crypto enthusiasts and traders, who deal with hackers and infiltrations on a far more regular basis than regular internet users, because there’s literally money to be gained by these bad forces and stolen funds are extremely difficult to recover. There are a lot more hackers out there, and a lot of times where cryptocurrency and other digital assets get stolen.

    So with that in mind, a slew of password managing services have become available in the market over the years to aid users with this specific security issue. Let us look at some of the most popular ones in the market right now. (https://duckysonline.com/)

    1- Yubikey

    Yubikey

    Check out our video: YubiKey Review and Guide for a full look at how to use the YubiKey and all its features. You can also check out our article Yubico’s YubiKey: Review and Guide for a step by step written guide on how to use it. Also, check out our YubiKey Review and Guide for a full look at how to use the YubiKey and all its features:

    YubiKey Review and Guide

    Pros:

    Fundamentally, the YubiKey has the same advantages of having a literal physical key for a physical vault. It’s a physical object, so in order to login and configure the account of an online service, the actual YubiKey must be used to deliver the necessary passwords it provides.

    This already makes the usage of hardware authenticators like YubiKey very hard to hack, which is why Google and Facebook use them to secure employee and user accounts.

    Yubikey, like all hardware authenticators, essentially allow two factor authentication (2FA) to be used safer and more conveniently, because it can produce one time passwords (OTP) you don’t have to create yourself or remember and enter them for you. So not only is it safer, but it’s also very convenient – two advantages that don’t usually coincide. 

    Physical hardware authentication devices are particularly good at avoiding the kind of hacks seen in Coinbase and USD1mil crypto heist last year, where SMS-based 2FA codes were hacked using SIM swapping. 

    It’s easy to set up as well as use and provides a strong layer of security for the services it protects. Just plug it in, follow the prompts on the service that you’re using (assuming it is supported), press the key and it’s set. 

    For crypto exchanges such as Binance, password keys like the YubiKey can be set to lock withdrawals, logins and password resets individually. What this means is that even if someone were to hack into the account, the individual actions a hacker could do inside is also locked away and needs the YubiKey to access them.

    Cons:

    Its greatest strength is also perhaps its biggest weakness. Physical objects used for security can still be damaged, left behind in a rush by accident or even lost. And losing a YubiKey can involve some incredibly tedious solutions, so be forewarned. On top of that, some might find the need to carry one around a minor inconvenience, particularly if they do exchanges in different locations. 

    Another issue that needs to be addressed is that some crypto exchanges might not support YubiKey, particularly for mobile users. So it’s important to check for support before purchasing one. For mobile power users, this makes the YubiKey models with USB-C and Lightning connectors somewhat useless, even if USB-C models are still useful on certain laptops like MacBooks. 

    One minor issue was discovered by the people at Zapier who kept triggering their YubiKey’s when accidentally touching them, resulting in a secured code being entered into whatever textbox you have open at the time. It’s happened so often on Slack, that Zapier has decided to run with the joke and made a custom Slack emoji. Most hackers won’t know what to do with this sudden burst of password code getting posted on a chat, but it’s not a habit many would encourage, and they do provide a means to make the press less sensitive.

    And like many password managing solutions, this won’t stop hackers from getting into your account if the exchange itself is not secure. 

    2- Trezor Password Manager

    Trezor

    Check out our video: Trezor Model T Guide and Review and our article which answers the all important question- Trezor Model T Review: Is it Worth Buying?

    Trezor Model T Guide and Review

    Pros:

    Using the Trezor physical wallet as a password manager is somewhat similar to using the YubiKey, but takes the process of securing passwords one level higher. Physical wallets like Trezor and Ledger are cold wallets because they confirm transactions within themselves before they are made, and while you compromise convenience and speed using them, they are by their very nature far more secure. 

    And by virtue of how it works, Trezor can essentially save an unlimited amount of passwords too. 

    One noted advantage The Trezor might have over the YubiKey is that so long as you know your seed key, losing a Trezor and getting a replacement is far more straightforward. It is a series of words between 12 and 24 words long using the BIP39 format, and using it in one physical wallet that supports it basically replicates that wallet in another device, restoring your passwords and addresses.

    Cons:

    It’s important to note that while using a Trezor as a password manager, it’s main focus is as a physical wallet. Getting one as just a password manager is a bit overkill considering the prices they go for. It must also be pointed out that this is still a physical device that can be lost or damaged, and replacing one is still kind of pricey as well. 

    On top of that, the seed key is fundamentally the wallet’s identity and is often targeted by hackers. The same convenience that allows a Trezor to be replaced with a seed key, also means anybody else that has it can replicate yours too and steal your assets, if you’re not careful.  

    It is therefore incredibly risky to keep online, so it must also be written down or inscribed on a physical medium of some kind. Paper is typically not encouraged, but there are metal alternatives that are far more durable and secure. Again, these can be damaged, lost or stolen if you’re not careful too. 

    If you have multiple physical wallets (and some traders do, for diversification and security purposes), you can use a single physical wallet to store the multiple subordinate sed keys, but this can also lead to a recursive rabbit hole of problems, where compromising of the “prime” key jeopardises the other “subordinate” keys, even if the later is now incredibly secure.

    But to be fair, if you do trade large amounts of capital and you are concerned about hackers, then maybe getting a physical wallet like the Trezor is not a bad investment, and if they are valuable, most people know to treat them as such and secure them well. Plus you get to reap the perk of having a physical authentication device that supports far more kinds of cryptocurrency than the YubiKey. 

    3- LastPass

    lastpass

    Pros:

    Lauched in 2008, LastPass is well-known among cyber-experts and is among the most feature-rich password protectors available. It has multi factor authentication as well as  browsers and is easy to use. The free version is also pretty decent but has its own limitations as we’ll get to below. 

    LastPass also uses 256-bit AES encryption to scramble your passwords, allowing a zero-knowledge policy within the company. It also allows users to use it in an offline mode, which is a rare trait in online password managers. 

    The product is also very highly rated across the board for its incredibly feature rich paid-version and is generally considered affordable for what it can do, with Forbes, CNET and many other tech sites. 

    Cons:

    There have been potential security risk discoveries in 2021, 2019, 2018, 2017 (and again in the same year), 2016, 2015 and 2011 where vulnerabilities were discovered and then patched, but the password vaults themselves were secure. Lack of open source code aside, they have also never been vetted by a third-party auditor to test their product.

    One the one hand, this could be a little worrying. Even if no passwords seemed to be compromised, the idea that they could have been is a little nerve-racking. But on the other hand, LastPass seems to be on the ball with regards to making sure users are well-informed and that their product is constantly patched and reinforced. 

    LastPass will also lock you into the country that you’re in, but you can add more countries into your permissions as needed. Or you could get around that issue and use a VPN. 

    LastPass’ free version has seen what might be seen as a huge downgrade as of last year after it was limited to only one device per user. People already on LastPass’ free version before found this change worth swapping to another manager altogether. For newer users looking to just secure one device, this isn’t really an issue but most password manager users would rather their manager work across several platforms.   

    4- KeePass

    keepass

    Pros:

    At first glance, this doesn’t look like a very impressive password manager. The installation is a bit confusing and the application itself isn’t very stylish or intuitive.

    It is however open-source and free (barring the modest demand for donations), and while the former seems frivolous to the end user and the later not all that important to crypto-enthusiasts who are looking to protect fairly large amounts of capital from hackers, they matter for two crucial reasons

    Firstly, its open-source nature allows anyone to create a startling myriad of plug-ins and customisations. This almost DIY nature of KeePass allows a savvy-enough user to modify KeePass in almost whatever way they want. On top of that, it could be argued that open-source software allows more experts to scrutinise it and its flaws (assuming a sizable-enough enthusiast community, which KeePass has). 

    Secondly, that it is free makes it an incredible password management solution for tech-savvy individuals, tech businesses or organisations that are cash-strapped but have the skills to utilise KeePass to its fullest potential. Staying free factor turned out to be quite an important factor, as LastPass’ changing its terms on its free users showed. 

    On top of that, various versions of KeePass (that was originally meant to run on desktops and laptops) have come about to provide for platforms it wasn’t originally designed for, such as for iPhone and Android.     

    Cons:

    KeyPass’ incredibly customisable, almost DIY nature also reflects the fact that on its own, it is a very bare password manager and probably alienating to a user who isn’t particularly tech-savvy or wants to do the extensive customization to provide features its other rivals have out of the box. 

    The necessity for its over 100 plugins to provide the convenience most other solutions have right out the box is going to turn off people who want to simply get the solutions over and done with. Its interface is not intuitive and there is no official tech-support. 

    On top of that, you must choose which database to store your encrypted passwords, because it does not have cloud-based storage for them built in. It is possible to have KeePass store it on detachable storage, such as a thumbdrive, but again, that must be opted. This does make it more secure, but if the storage device is stolen, you lose access to all your devices. 

    5- BitWarden

    bitwarden

    Pros:

    In many reviews either about, including or just mentioning Bitwarden, the positives of its free version are often contrasted to LastPass’ own ever since the later changed its free version’s service terms to only sync between either personal computers or mobile devices, almost to suggest that Bitwarden has dethroned LastPass among free app users. 

    And it’s hard to deny that it has earned its reputation as one of the best open-source free password managers out there.

    Bitwarden provides multi-factor authentication via authenticator apps, and is secured with AES-256 encryption, which is then hashed with SHA-256. You can even host all your passwords on your own server for added security. Bitwarden also allows you to create and share passwords and audit password usage. It also auto-fills passwords and their credentials in one go, though this can malfunction on certain sites. And all synch via an unlimited amount of devices. 

    That’s not to say that it’s affordable paid version doesn’t get much better, with support added for YubiKey, U2F, and Duo, 1GB encrypted data vault storage, vault health reports, a time-based OTP authenticator and generator and even priority customer support.

    Its creators too have had a sterling reputation for transparency, having gone through a third-party audit by Insight Risk Consulting as well as German cybersecurity team Cure53, while its source code is available for anyone on Github to examine. It has even a bug-bounty on vulnerability coordination platform Hackerone. 

    Cons:

    Like its open-source counterpart KeePass to an extent, Bitwarden does suffer from a lack of an intuitive interface and its true capability requires some expertise to extract via plugins. But generally speaking, it’s an incredibly difficult password manager to fault for most reasonably experienced users. 

    6- Keeper

    keeper

    Pros:

    Its introduction is fairly intuitive and quite helpful, walking you through the setup process step-by-step from a warning about browser-based password managers to password imports, and then an installation of web plugins, a tour of its features and the introduction of multi-factor authentication. 

    Keeper can be used via a web-app, but the actual desktop app allows for biometric logins and an offline mode. Keeper also has a series of other add-on features that you can pay for (or opt out from), such as encrypted file storage, secure messaging and dark web monitoring. Overall, it’s a well-priced, intuitive and easy to use password manager with rather good support for businesses. 

    In terms of security, Keeper is quite strong, having third party audits, compliance with ISO 27001 information security management system standards, the US Department of Commerce and the European Commission’s Privacy Shield framework and even has an internal bug-bounty programme.

    Keeper is priced somewhat similar to LastPass for its first package tier, but offers a wide variety of packages to suit various sorts of needs for families, business and whole enterprises, and offers a 50 percent discount if you are a student. 

    Cons:

    The most glaring drawback to Keeper is that its free version, while reasonably capable, can only do those things on one mobile device. There won’t be any auto-fill for passwords. Also, Keeper’s free version may be terminated within 12 months of inactivity and take your passwords and files with it. Finally, Keeper’s support is also not as good with personal users.

    One possible vulnerability is that Keeper doesn’t fully automate password updates. When it detects a password-change page, it offers to update and save a stronger password. Your passwords exist for a certain time on Keeper’s company servers – unconducive to the zero-knowledge test.

    7- 1Password

    1password

    Pros:

    It’s one of the best password managers available on the market right now, priced similarly to LastPass for its standard version, which allows unlimited passwords across unlimited devices, and is offered in a variety of packages suited for their intended demographics too. This allows 

    It has the sort of features you expect from a good password manager of this range, such as 256-AES encryption, a zero-knowledge policy, two factor authentication, password strengthening and good browser extensions.On top of that, it has straight-forward security recommendations and an easy to use interface.

    However, it stands out with some interesting features that make it particularly useful. 

    One is being able to make multiple password vaults that you can organise for different purposes. On family and business plans, you can set up sharing settings with other users that are unique to each vault. On business plans specifically, administrators can remotely configure these settings for team members.

    When in travel mode, it hides all password vaults and only shows the ones deemed safe for travel, and gives no indication that the mode is on, which is good if someone wants to keep sensitive information secret, particularly if a device is stolen. Such vault information might include form fills, passwords, secure documents and credit card information.

    It will also tell you if your passwords are weak, or if you’ve been reusing them for different services, and has a simple-to-use feature that wipes clipboards to remove sensitive data after a timer is set. 

    1Passworld can also create an Emergency Kit – a PDF with your account email, Secret Key, and a place for you to write down your master password. It offers peace of mind in case you lose some valuable bit of data and can’t gain access to your passwords.

    Cons:

    There are some minor concerns, though. 1Password’s browser extensions can’t be used to add passwords or edit them, and while it will tell you if your passwords are weak, it won’t insist they get stronger with special characters, which is odd.

    Also, if you’re moving from a different password manager, you must export your passwords via a CSV file, which seems less secure. 

    It also has no free version. 

  • Only1 ($LIKE): Solana’s NFT-Powered Social Platform

    Only1 ($LIKE): Solana’s NFT-Powered Social Platform

    Only1 ($LIKE) is the first NFT-powered social platform built on the Solana blockchain. Mixing social media, a non-fungible token (NFT) marketplace, a scalable blockchain, and the native token — $LIKE, Only1 offers fans a unique way of connecting with the creators they love. By using the Only1 platform, fans will have the ability to invest, access, and earn from the limited edition contents created by the world’s largest influencers/celebrities, all powered by NFTs.

    The ultimate goal of Only1 of revamping and innovating social media could have far reaching effects. At a time when major platforms like Facebook have rebranded with an aim at crypto, the power of content creators and users is ever more apparent. Where creators choose to upload content and where users flock to consume plays a major role.

    Issues with Traditional Social Media

    • Unfair Creator Economy

    On centralized social platforms, advertisers pay the platform for user’s attention. On decentralized social platforms, platforms pay users for their attention. Creator economy is the incentivisation structure for user-generated content. Content creators on Youtube are under constant pressure of censorship and demonetisation, while creators on platforms like Instagram and TikTok often have to rely on third parties (affiliate links, merchandise sale, paid shoutouts etc) to generate income. For a lot of the creators, social media is their full time job and their reward should be determined by their content and engagement with their fans.

    • Data Exploitation

    Traditional social media platforms provide end users with free services in exchange for their personal data. As the saying goes, “If you are not paying for the product, you are the product”. According to Clario, major social media apps collect up to 79.5% of personal data from users, including but not limited to name, addresses down to hobbies and interests. Let’s take the example of Facebook (recently renamed as Meta). Facebook with over 2.89 billion monthly active users is the most popular social media worldwide. With an audience base this big, there is no surprise that 98% of Facebook’s revenue is generated through advertising. Since these platforms own and store data in one single place, they can effectively manage and monetize through selling user data to third parties for marketing purposes. End users have no control over who Facebook sells their data to and how these purchasers use their data.

    • Algorithms & Authoritarian Control

    Discovery algorithms are built with parameters to prioritize commercialisation of the corporation and sometimes to serve some political agendas. For example, certain cartoons are banned in some countries for political reasons. China because they resemble a political figure. Also why show you a picture of your friend’s new Samoyed if they can show you a picture of an attractive person that will eventually convert you to buy the advertised into that fitness program advertisement? It is difficult to balance freedom of expression and safety of the community, it is for sure too big a power and responsibility for one corporation. The future of social platforms are looking at becoming decentralized and is community-governed.

    Key Components of a Decentralized Social Platform

    • Fair Creator Economy

    A decentralized finance (DeFi) or SocialFi structure that pays content creators for being active on social media and providing value to the audience, instead of ad companies that pay the platform.

    • Social DAO Governance

    A decentralized autonomous organization (DAO) that regulates community guidelines and platform development balancing safety of the community on the platform, and freedom of expression. Users curate and execute community guidelines and development. Not one single entity can deem specific content inappropriate, and actions are carried out if consensus is reached between the network.

    • Ads & Discovery

    Optimized for users instead of platform, without leaking user data to third parties.

    What is an NFT-Powered Social Platform?

    Instead of solely focusing on NFTs, social NFT platforms allow influencers to create content, share it with their audience, and get rewarded based on engagement. Users can create NFTs and allow their fans to engage, access, and earn through collecting these NFTs. Only1 provides a decentralized NFT-powered social platform for creators and fans to interact.

    What is NFT staking?

    Blockchains depend heavily on their global network of transaction validators who authenticate transactions before the data gets added to a block on a blockchain. These validators (or miners) are decided based on the amount of cryptocurrency they pledge towards the operation of the blockchain network. In return, miners earn rewards in the form of the native cryptocurrency for devoting resources. This model of pledging crypto assets is called the ‘Proof-of-Stake’ model, and the process is called ‘staking’.

    Similarly, you can pledge NFTs to support a project while you earn passive income in terms of rewards or fees for dedicating the asset to a blockchain. Currently, most of the NFT staking opportunities are in play-to-earn (P2E) gaming platforms such as Decentraland, Sandbox, Axie Infinity, among others. All you need to stake is a cryptocurrency wallet with NFTs.

    Over 50 percent of the NFT market is attributable to in-game NFTs, which players can buy using cryptocurrencies. Axie Infinity, for example, has garnered a sales volume of over $2 billion since its launch in 2018.

    However, it is important to note that all NFTs cannot be staked. So you need to check the details before buying the NFT.

    Features: What Makes Only1 Special?

    The Only1 marketplace will consist of several different features that sets it apart from other NFT marketplaces. Some of these features include:

    Creator Genesis NFT

    Genesis NFT Minting

    • A genesis NFT is minted once a creator passes KYC
    • Creators will then be able to mint their own Content NFTs for their fans and receive $LIKE, or native token, as a reward for engagement

    Fans Bid with $LIKE

    • Fans can utilize $LIKE, or native platform token, to bid for a Star NFTs on the Only1 Marketplace

    Genesis NFT Perks

    • Fans will have the ability to stake $LIKE on their favorite influencers profile
    • The Genesis NFT Owner as well as the creator will both earn a split of the staking rewards

    Content NFT Farming

    Creator Post Content

    • Creators have the ability to post exclusive content in form of an NFT
    • Fans bid on Only1 marketplace for NFT using the $LIKE Token
    • When an NFT is purchased a portion of the $LIKE tokens are burned

    Community Unlock

    • Other fans unlock content with $LIKE, receive lottery tickets (weekly lucky draw)

    Creator and Community Earns

    • Tx split between NFT owner and creator

    Why Solana?

    Only1 is built on the Solana blockchain for multiple reasons, including:

    • Solana has a flexible virtual machine which allows programs (known as smart contracts elsewhere) to be written in native languages such as Rust, C, and C++.
    • Solana’s infrastructure provides blazing fast speeds and no memory pool – providing the basis for global adoption of blockchain and/or distributed ledger technologies.
    • A transaction on-chain costs only a fraction of a cent (average of $0.00025 per transaction).

    Solana truly achieves the three desirable qualities of any blockchain: scalability, security, and decentralization. With Solana, users on an NFT-powered social platform such as Only1, can enjoy all the benefits of Web3 at the speed of Web2.

    $LIKE Token Economy

    $LIKE is the native token of Only1 that powers the creator economy within the network. Some of the initial utility for the token include:

    • Bidding – Fans bid for NFTs on Only1 with $LIKE
    • Staking & Governance – Fans stake their $LIKE to earn more over time
    • Reward Pool – $LIKE rewarded to stars as new NFT is minted & resold
    • Donating – Fans can tip $LIKE to their favorite creators

    Conclusion

    Since the invention of the World Wide Web (WWW) by Tim Berners-Lee in 1989, the world has been revolutionized by this technology combining computers, data networks and hypertext.

    The first iteration of the WWW evolution — Web 1.0 is a “read-only” web that enables users to search and consume information. The second iteration, although deemed as a “passing fad” by many, has flourished and brought the adoption of the internet to a whole new level. Web 2.0 as a “read-write” web, has extended its functionality to highlight user-generated content, usability and interoperability for end users.

    As time goes by, many people have grown tired of the data exploitation that major corporations have taken advantage of and wanted to regain control over their data and content. This is where Web3 comes in; the Semantic “read-write-own” Web that revolves around decentralization and token-based economics. Rather than compromising personal data in exchange for free services, users can become participants and shareholders by earning on the blockchain network, which in return allows you to impact decision-making over a network.

    Only1 fully embraces this revolution by proportionally rewarding creators and fans for simply using the platform. The goal is to support and foster the creator economy, not profit off of it. By combining social media, NFTs, DeFi and the native token $LIKE, Only1 offers a Web 3.0 solution to creator economy and fan engagement.

    Follow their media channels for more info:

    Website — https://only1.io/

    Twitter — https://twitter.com/only1nft

    Telegram — https://t.me/only1nft

    Medium — https://only1nft.medium.com/

    Sources:

    https://only1.io/pitch-deck.pdf

    https://only1.gitbook.io/only1/

    https://only1nft.medium.com/welcome-to-only1-the-first-social-nft-platform-built-on-solana-a073827e942a

    https://www.cnbctv18.com/cryptocurrency/explained-how-to-earn-passive-income-via-nft-staking-11960392.htm

    https://morioh.com/p/27ea8c22ad0d

    https://only1nft.medium.com/barriers-for-web-3-0-social-for-the-mainstream-market-fbc12c1cddf3

  • DinoSwap ($DINO) Guide: What is it?

    DinoSwap ($DINO) Guide: What is it?

    What is DinoSwap?

    DinoSwap ($DINO) is a decentralized exchange (DEX) Polygon network-based cross-chain protocol that rivals the likes of PancakeSwap and other automated market makers. Launched on 17 July 2021, the DEX allows users to use the DINO token to earn various tokens of projects operating on top of Polygon. 

    Some of the top investors of DinoSwap include DeFinance, Hashed, Spartan Group, DFG, and co-founder of Polygon Sandeep Nailwal. 

    DinoSwap’s goal is to allow users from any blockchains to benefit from increased liquidity by tapping into tethered liquidity from multiple other blockchains, thereby becoming a centralised hub for cross-chain liquidity. This can be done by building liquidity for layer one blockchains, AMMs (Automated Market Makers), and partnering projects.

    The first blockchain that DinoSwap has started with is Polygon due to its high liquid environment and extremely low transaction cost. By leveraging the strength of Polygon, DinoSwap is then able to help crypto projects boost their token liquidity. 

    How does DinoSwap work?

    DinoSwap $DINO

    Currently, DinoSwap offers three products:

    DinoSwap Exchange

    The main focus of DinoSwap, it is a DEX that does not have its own Automated Market Maker (AMM) and instead interfaces directly with third-party liquidity pools of the top DEXs on Polygon. On DinoSwap, users can exchange ERC20 tokens, and one of the features that make DinoSwap unique is that it does not charge any additional fees on exchanges. 

    Yield Farming (aka DinoSwap Fossil Farms)

    Following the dinosaur theme, DinoSwap’s Fossil Farms are where users can earn DINO by staking their LP tokens from SushiSwap, QuickSwap and Dfyn.

    Staking

    Jurassic Pools

    This is a non-burn pool where users can stake their DINO and earn more tokens from partnering projects. In addition, users can still withdraw or deposit DINO without any additional fees, time-locks, or burns. (www.stellardental.my)

    Extinction Pools

    Extinction Pools are burn pools where deposited DINO is burned when all rewards are distributed. Users can stake their DINO tokens in order to earn more tokens from other partners over a period of time.These allow projects to issue tokens to a global community of Degen Dinos which increases wallet holder count, boosts awareness of the project, and bootstraps initial market liquidity. Participating projects are announced through the official DinoSwap social media platforms and receive cross promotional benefits, and these projects will also populate on the default list of DinoSwap tokens without having to search for the contract address. 

    Tar Pits

    Users can stake DINO in the Tar Pit to earn more DINO tokens. Entering these pools requires an adjustable time lock on staked DINO, but longer lock-ups mean increased rewards.

    DINO token utility

    DINO token is the native token of DinoSwap in ERC – 20 standard and is used to get other tokens from projects partnering with DinoSwap. DINO token has no hard cap but has a burning mechanism to deter inflation and ensure the healthy development of the ecosystem. 

    The DINO token at this time has two different uses: DINO is currently used to farm yDINO, a governance token which will be part of a complete ecosystem, by staking DINO and BNB on Tenet. DINO provides passive income to its users and holders through the 1% redistribution applied from every transaction Note: It will be used in the near future as the central currency used in this ecosystem currently in development, where artists and collectors can buy and sell digital art goods using DINO Token.

    DINO Token Distribution

    65 million DINO tokens were distributed at launch as follows:

    • 65% – Farming Rewards (Fair launch).
    • 5.6% – Treasury.
    • 14.4% – Team (vested over 12 months, linearly, on a per-block basis).
    • 15% – Investors and Advisors (vested over 12 months, linearly, on a per-block basis)

    After the first 65 million DINO have hatched, new tokens will be created on-demand. For every 10 DINO created, one extra DINO will be allotted to the DinoSwap Treasury to support further protocol growth initiatives.

    Trading on DinoSwap

    Trading on DinoSwap is simple:

    1.  Navigate to the DinoSwap exchange here
    Dinoswap exchange
    Dinoswap exchange
    1. Unlock your Polygon Wallet, click connect, and choose the wallet provider of your choice
    Dinoswap Polygon wallet
    Dinoswap Polygon wallet
    1. Select the tokens you wish to swap and enter the amount (make sure you have MATIC in your wallet to push the transaction through) .
    Dinoswap and MATIC
    Dinoswap and MATIC
    1.  Check the details, and click “Swap”.
    Dinoswap finalize
    Dinoswap finalize
    1. Check the details again and click “Confirm Swap”.
    Dinoswap confirmation page
    Dinoswap confirmation page
    1. Confirm the transaction in your wallet.
    2. The swap is complete and you can click view on maticvigil to see your transaction details

    Yield Farming on DinoSwap

    This function allows users to stake DINO in order to earn even more rewards after a period of time. There are two parts to this process:

    Providing Liquidity

    Every Fossil Farm needs a specific LP Token that can be acquired by providing liquidity for the appropriate pair. The following steps will prepare you to start excavating in your favorite Fossil Farm.

    1. Go to the Fossil Farms page.
    Dinoswap Fossil Farms
    Dinoswap Fossil Farms
    1. Click on your favorite Fossil Farm.
    2. Click on the “Get LP” link on the left side.
    Dinoswap Get LP
    Dinoswap Get LP
    1. Follow the instructions to get LP tokens on either SushiSwap, Quickswap or Dfyn.

    Entering a Fossil Farm

    Now that you have your LP Tokens ready, it is time to put them at work and start excavating.

    1. Go back to the Fossil Farms page.
    2. Unlock your Wallet via the “Unlock Wallet” button or the “Connect” button (top right).
    Fossil Farm Unlock Wallet
    Fossil Farm Unlock Wallet
    1. Make sure your wallet is on the “Matic Mainnet” network.
    2.  Click on the Fossil Farm you want to excavate.
    3.  Click the “Enable” button.
    Fossil Farm MATIC Mainnet
    Fossil Farm MATIC Mainnet
    1.  Your wallet will ask you to confirm the transaction.
    Fossil Farm confirm transaction
    Fossil Farm confirm transaction
    1.  Click the “Stake LP” button.
    2.  Enter your desired amount of LP Tokens and click the “Confirm” button.
    3.  DONE! You are now farming DINO.

    Adding or removing LP Tokens

    At any time, you can decide to leave the Fossil Farm or add more LP Tokens to it.

    1. Return to the Fossil Farms page.
    2. Click the “Staked only” toggle to see the pairs you have LP Tokens in.
    3. Choose a Fossil Farm you have LP Token in and click on it.
    4. Click on the “+” or the “-“ button to add or remove LP Tokens.
    5. Enter the amount you would like to add or remove.
    6. Verify your information and click the “Confirm” button.
    7. After a short wait you should see your new balance in the details section of the LP Token pair. If you have unstaked your LP Tokens, any unclaimed rewards will automatically have been collected.

    Conclusion

    DinoSwap ran a highly successful fundraising campaign before its launch and is even backed by the co-founder of Polygon himself, indicating a large amount of confidence in the project. The DEX has also successfully completed three Certik smart contract audits and has received a “low risk” rating from the Rug Doctor. DinoSwap is already the 7th most popular dApp on Polygon in less than 2 weeks from its official launch.

    With DinoSwap’s mission of increased liquidity for cryptocurrency exchange, this DEX is one to keep an eye on and has huge potential to change the crypto exchange game.

  • Metaversal Truths: A Look Into holoride and Its Foray Into Cryptocurrency

    Metaversal Truths: A Look Into holoride and Its Foray Into Cryptocurrency

    Originally an initiative by the Autonomous Driving and Digital Business units in Audi to provide VR-like entertainment for passengers in cars in 2015, holoride had since spun off into its own in-car entertainment start-up in 2019. Their brand-new take on environmentally adaptive VR experiences, demonstrated in a moving car, made its debut at the famous Consumer Electronics Show of January that year.

    Their inspiration comes from a huge market for in-car entertainment, which traditionally is focused only on the drivers’ experience in the form of audio media, such as music and podcasts. Anything more would be patently dangerous. There were occasionally allowances for AV devices built into dashboards and seats, but with the advent of mobile devices, the need for such in-built gadgets has become somewhat passĂ©, and the focus is oriented ideally towards social interaction within the vehicle itself. 

    However, with the presence of ride-shares, public transport and even autonomous vehicles, the core philosophies behind the in-car entertainment market will need to evolve, there will come a greater need for distraction from the boring commute or the monotonous long-distance highway trip. What’s more, some might not be able to read, watch or play media while in a moving vehicle due to the onset of carsickness. 

    Holoride virtual reality
    Holoride virtual reality

    What is Holoride ($RIDE)?

    Holoride aims to ‘turn vehicles into moving theme parks’ by combining the immersive technologies of Virtual Reality with the situational adaptability of Augmented Reality, users can experience what Co-founder and CEO of holoride Nils Wollny describes a ‘blended’ experience that moves and adapts according to the forces and movement of the vehicle, as well as terrain, weather and landmark data pulled from online maps. What the viewer experiences are then sights and sounds unique to every ride. It creates what it calls ‘elastic entertainment’ via Extended Reality.

    Holoride has now brought the capabilities of the Elrond blockchain to add even more value to its potential to entertain, enthrall and elate. It seeks to use the Elrond network to ensure the integrity and transparency of usage data, a potential fair usage-time-based compensation model for all ecosystem partners, increased security and compliance with automotive standards as well as improved experience quality and personalization and rewards. Elrond’s main selling point for holoride is that compared to the Ethereum blockchain, it’s infrastructure eliminates computational waste, and therefore reduces, “gas prices” or computational energy expenditure and costs.  

    holorider
    Holorider

    What is $RIDE?

    And with the Elrond blockchain comes RIDE – holoride’s token released December 2021. RIDE forms the transactional basis of its NFT (non-fungible token)-based content ecosystem on Elrond. RIDE is designed to provide incentives for using holoride by providing additional benefits and enhanced user engagement. As Wollny stated in a press statement: 

    “As we look to expand across global markets, blockchain technology and NFTs help us scale while securing the integrity of our developer-centric and car manufacturer-agnostic approach.” 

    Holoride seeks to use RIDE to build a sustainable economy on its ecosystem, allowing manufacturers, content creators, brands and passengers to trade transparently with each other and participate in the governance of the holoride platform and its content.

    As mentioned in its Litepaper, holoride seeks to use similar content strategies to the rest of the gaming industry. RIDE token holders will be able to purchase user subscriptions, digital items, upgrades, customisations and brand placements from holoride at a discount from their non-crypto price as well as access to special events and early access to content and rare collectables. 

    holoride platform
    Holoride platform

    Holoride also says that content creators will be able to mint unique NFTs based on their experiences, which can then be traded within the network’s marketplace. Fundamentally, this creates a token out of the social trading aspect of holoride’s experiences. Essentially, it makes RIDE a form of literal social currency. 

    “As players get more involved, these purchases generate additional revenue. In addition, unique in-game currencies are often created for these purchases to add value through enhanced functionalities, enable a universally and globally accepted in-game payment standard, or enable special discounts if players pre-purchase a specific credit – just to name a few.

    The Litepaper goes on to say that holoride’s mission “is to make transit time more valuable for everyone. Through NFTs, we envision the highest level of personalization for users while offering a one-of-a-kind XR experience with compelling monetisation opportunities for our partners.”

    Content creators and car manufacturers could also possibly receive RIDE as part of user engagement with NFTs via transaction fees. For example, in their Litepaper, a 5% split might be equally done between the original content creator, the car manufacturer the NFT was minted on and holoride itself. Holoride can also ensure via Elrond that balances can also be settled by burning RIDE and paying out the partners with Fiat currency.

    Finally, a certain percentage of holoride’s income from revenue, Fiat purchases, smart contract royalties and many more will be used each month to purchase RIDE tokens from the open market and deposit them in the holoride treasury to fund the sustainable development of the ecosystem via grants and other incentives.

    holoride experience
    Holoride experience

    According to TechCrunch, Ride is currently being sold on Elrond’s Maiar Launchpad, currently the only way to get it. Holoride will initially circulate 130 million tokens, and there is a max supply of 1 billion. Two hundred million tokens were sold at $0.02 at a private sale to raise funds and another 50 million were sold publicly before the launch of the crypto, which constitutes only 5% of the total RIDE tokens. Still, this would have brought holoride US million. (https://experience.afrotech.com/)  

    To learn more about Maiar Exchange ($MEX) and how to use it, check out our tutorial.

    The rest are reserved for members of the Ecosystem – developers, content creators, automotive manufacturers, mobility providers, operational supporters, or advisors and ambassadors, etc; the Community – early contributors to the project; a Treasury – for unexpected issues and finally the Team – who are holoride workers themselves. 

    holoride universe
    Holoride universe

    Holoride’s technology is still some time away from launch, ostensibly within 2022. Even so, it’ll require a huge amount of capital locked in to sustain its rather expansive application of the Elrond blockchain to make business sense. 

    But whatever the outcome, valuable lessons might be learnt from how it combines decentralised, socially-motivated commerce with their take on the metaverse. Wollny is optimistic about how holoride can enable its users to create value out of it. As he tells TechCrunch:

    “Now that everyone is all over the metaverse, cryptocurrencies and NFTs, the puzzle pieces might fit a little better. However, many things are still unsolved and the best is yet to come.”

    REFERENCES: 

    Holoride Official Website. Get Ride. (https://www.holoride.com/ride-token)

    Holoride Litepaper. Adding Thrill To Every Ride. (https://a.storyblok.com/f/113424/x/334861532d/holoride_litepaper_v2-1_nov21.pdf)

    Bobby Carlton. 24 May 2021. VRScout. In-Car XR Platform ‘Holoride’ Announces Blockchain Ecosystem. (https://vrscout.com/news/holoride-announces-blockchain-ecosystem/)

    Rebecca Bellan. 30 Nov 2021. TechCrunch+. Holoride debuts Ride crypto, the currency of its in-car metaverse. (https://techcrunch.com/2021/11/30/holoride-debuts-ride-crypto-the-currency-of-its-in-car-metaverse/)

    Rebecca Bellan. 20 May 2021. TechCrunch+. Holoride deploys Elrond blockchain and NFTs in prep for 2022 market launch. (https://techcrunch.com/2021/05/20/holoride-deploys-elrond-blockchain-and-nfts-in-prep-for-2022-market-launch/)

    Hashoshi. 8 Nov 2021. YouTube. holoride is bringing in-car entertainment to the metaverse! (1st Elrond Launchpad Project!) (https://www.youtube.com/watch?v=HMk9YcRAnn8)

    Anifowoshe Ibrahim. May 2021. Bitcoinist. Holoride To Integrate NFTs and Blockchain For Its In-Vehicle Entertainment Experience (https://bitcoinist.com/holoride-to-integrate-nfts-and-blockchain-for-its-in-vehicle-entertainment-experience/)

    Jon Joehnig. 21 June 2021. Holoride Talks Convergence, Content Creators, NFTs, and 5G. (https://arpost.co/2021/06/21/holoride-convergence-content-creators-nfts-5g/)

    FAQ

    What is holoride?

    holoride is a VR-entertainment start-up firm that has created a VR platform that creates experiences  combining Augmented Reality tech and is able to change and adapt along with the passenger’s ride or commute, how the vehicle moves and available terrain and weather data. The visuals moving with the vehicle’s forces actually reduces the usual motion sickness associated with VR

    What does a VR company need blockchain and cryptocurrencies for?

    platform through the sale of extra content and upgrades. But it also wants transparency and for content creators to make, share and be compensated for content for the holoride platform too. So allowing itself and others to create NFTs and trading them using its online RIDE tokens is a fairly reasonable way to create a socially-driven, traceable economy around online content. 

    Where can RIDE tokens be bought?

    Via the Elrond blockchain’s Maiar platform. It currently accepts stablecoins. There will be a maximum supply of a billion tokens. 250 millions have already been sold, and 130 million more will be sold again in the near future. Learn how to use Maiar Exchange with our tutorial- Maiar Exchange Tutorial ($MEX)- Guide to Elronds’ ($EGLD) official DEX.