Boxmining

Category: Coin Guide

There are several thousands of cryptocurrencies out there, known also as altcoins. These coins and tokens all have their own unique features and uses, for example, some are used to help decide the direction the creator company should take, others give you discounts or access to special features. The Coin Guide is a concise summary of the aims and technology behind a certain cryptocurrencies. Insight is crucial in this field. Many projects disguise their progress through complicated jargon, making it hard to distinguish those who are building something meaningful from those who are not.

  • PlotX ($PLOT): Putting prediction markets on the blockchain

    PlotX ($PLOT): Putting prediction markets on the blockchain

    PlotX allows people to plot the next possible outcome and are rewarded for correct predictions. This whole concept originates from prediction markets. Prediction markets such as sports betting are expected to reach a valuation of $155.49 billion in the United States by 2024. The markets have also been supported by the uptake of online casinos and betting sites. In some cases, more than a few players have tapped into the power of blockchain technology to provide transparency in a market that has been kept in secrecy and under unfair setups.

    With the growing popularity of open finance (OpFi), blockchain-based platforms are helping users to predict the direction of the market and, just like in the traditional prediction market, be rewarded if their prediction is correct. PlotX is one such platform.

    Check out my interview with Ish Goel, Co-founder of PlotX:

    Background: Who is behind PlotX?

    The project lives by the popular mantra by Abraham Lincoln that the future can only be predicted by visualizing it in the present. PlotX has a dedicated team led by Ish Goel, Nitika Goel, Kartic Rakhra, and Satheesh A. Furthermore, the team’s vast experiences are spread across various sectors.

    For example, Ish Goel has been involved with Ethereum since 2016 and won the London Blockchain Week Hackathon in 2017. Meanwhile, Nitika Goel led the development of Nexus Mutual and co-founded GovBlocks. PlotX’s key partners also include GovBlocks, Matic, and Venrai.

    PlotX team
    PlotX team

    What is PlotX?

    Built on the Ethereum blockchain, PlotX is a network that seeks to make trading in decentralized finance (DeFi) “simple and fun!” by powering a prediction market with cryptocurrency traders in mind.

    At the heart of the platform is a decentralized application (Dapp) that enables virtual currency traders to forecast the future of Bitcoin (BTC), Ether (ETH), among other cryptocurrencies in a weekly, daily, and hourly basis. The project also takes decentralised finance (DeFi) platforms such as Uniswap that use an automated market maker model into consideration.

    Notably, the decision to provide market predictions stems from somewhere, i.e., the problems found in centralized platforms offering prediction services. The major problems include the high cost of using conventional systems, assuring fairness, and counterparty risks.

    Tried but failed, time to do it again

    Although the creation of cryptocurrency-centric prediction markets has been tried on decentralized systems, the time was not ripe. Therefore, it saw little, if any, adoption.

    Being a DeFi-focused prediction platform, PlotX aims to power crypto-based predictions using distributed ledger technology. It enables on-chain market creation using smart contracts. PlotX enables participation mining via a gamified experience by drawing inspiration from yield farming or liquidity mining as used in DeFi protocols.

    Additionally, PlotX seeks to provide instant rewards, short market cycles, and employ a mechanism that spreads the risks. Spreading risks enables a user to tailor his exposure to mitigate losses emanating from wrong predictions. With this option, users lose roughly 20% of their total prediction stake.

    PlotX platform
    PlotX platform

    However, the staked amount can be customized to mirror the users’ risk appetite starting from 1x, 2x, 3x, 4x, and 5x. Note that the higher the risk, the higher the reward and potential loss.

    Governance on PlotX

    The protocol employs a community-based governance model through the use of a decentralized autonomous organization (DAO) that votes and initiates proposals regarding changes to the system.

    This approach plays a vital role in providing on-chain governance in a blockchain-based prediction market. However, for non-blockchain dispute resolution, the platform has an advisory board. The board does not have any rights to funds, and its roles grow weaker as the community grows stronger.

    To power this model, the platform mirrors the approach used by Nexus Mutual. In addition, it incorporates smart contracts built on the GovBlocks network to strengthen community involvement.

    The platform also uses smart contracts that allow decision points to be edited, token holders to raise issues, as well as enable the token holders to reach an agreement.

    PlotX’s components of a healthy DeFi prediction protocol

    How does PlotX create a healthy DeFi prediction protocol? This is through several features in the PlotX protocol as follows:

    Market creation – This handles the network’s creation of different cryptocurrency pairs for prediction. A typical market on the platform can be, “What will be the price of ETH/BTC on October 17 at 1800hrs GMT.”

    Market positioning and pricing – A position can range from neutral, to bullish, to bearish and can only be influenced by a user’s experience on digital currency trading. A formula is used to calculate a position price on-chain. The odds are changed in regards to participation.

    Position buying – Buying into a position requires a user to stake crypto such as ETH. A user can buy into more than one position depending on the amount of token’s staked, the amount required for each position, etc.

    Positions trading – Here, users can trade positions in a decentralized way and exit positions before they expire.

    Market settlement – Closing prices are calculated from data provided by distributed oracles such as Chainlink.

    Market reward claims – Rewards are distributed once the market closes. However, the distribution of rewards is halted in case of a dispute until the dispute is resolved. However, a dispute can only be raised within the cooling period, given after the market closes.

    PlotX Alpha and PlotX Token ($PLOT) use cases

    Alpha is a version of PlotX existing on Ethereum’s Kovan testnet network. Although the system largely uses ETH when making predictions, it has a native token called PLOT. The token allows for:

    ·         P2P commissions.

    ·         Referral mining – Existing users can invite friends and family and be rewarded.

    ·         Community mining – Attracting more people into the platform using mineable airdrop rewards.

    ·         Play mining – Users are rewarded for staking PLOT before participating in market predictions.

    ·         Governance mining – The voting strength depends on the amount of PLOT staked.

    ·         Liquidity mining via staking.

    PlotX ($PLOT) mainnet launch and listing

    On 13th October 2020, PlotX will be launched on the Ethereum mainnet. Upon launch, BTC/USD and ETH/USD trading pairs will be available for users to predict on using PLOT and ETH.

    On the same day at 1:00pm (UTC), its native token PLOT will be listed on Uniswap.

    Conclusion

    Being a non-custodial protocol, PlotX users access the platform using their MetaMask wallet or any of their mobile wallets. The network’s users can also sign in using their email addresses. However, they have to integrate centralized finance bridges to enjoy the benefits of a prediction market in the DeFi world.

    The project’s reliance on the Ethereum blockchain and the ETH token allows its users to optimally interact with OpFi protocols since most of them are built on the same chain. With online prediction markets gaining traction in the centralized space, PlotX provides a superior service for those in the decentralized world.

    Decentralised Finance (DeFi) series: tutorials, guides and more

    With content for both beginners and more advanced users, check out our YouTube DeFi series containing tutorials on the ESSENTIAL TOOLS you need for trading in the DeFi space e.g. MetaMask and Uniswap. As well as a deep dive into popular DeFi topics such as decentralized exchanges, borrowing-lending platforms and NFT marketplaces

    The DeFi series on this website also covers topics not explored on YouTube. For an introduction on what is DeFi, check out Decentralized Finance (DeFi) Overview: A guide to the HOTTEST trend in cryptocurrency

    Tutorials and guides for the ESSENTIAL DEFI TOOLS:

    More videos and articles are coming soon as part of our DeFi series, so be sure to SUBSCRIBE to our Youtube channel so you can be notified as soon as they come out!

    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.

  • Swerve Finance ($SWRV): What is it and how are they different?

    Swerve Finance ($SWRV): What is it and how are they different?

    Swerve ($SWRV) is a fork of Curve Finance ($CRV) that is 100% community-owned and governed. Decentralized finance (DeFi) projects came about because of a need to convenient access traditional banking services without centralisation. Some of DeFi’s most controversial areas include governance, pre-mining, and fixed allocation of coins to founders or shareholders of the respective platforms. This has led to DeFi systems being forked to create more transparent products. Swerve is one such fork.

    Background

    As mentioned previously, Swerve is a fork of Curve Finance. Curve Finance is a blockchain-based platform that powers the exchange of stablecoins. Its main advantage is the fact that dealing with stablecoins leads to minor slippage, increasing the profit margin for liquidity providers.

    Curve also has a decentralized autonomous organization (DAO) to enhance distributed governance through voting. Unfortunately, the platform’s founder, Micheal Egorov, holds more than half of the voting power. This led to Swerve’s birth to provide a platform that’s 100% owned by the community.

    Swerve.fi
    Swerve.fi

    What is Swerve and how is it different from Curve?

    Swerve is a clone of Curve Finance but without:

    • A pre-mine;
    • token allocation to shareholders;
    • extended distribution of tokens;
    • a controlling founder or shareholder.

    Swerve has a single pool that accommodates leading stablecoins such as DAI, TUSD, USDT, and USDC. Note that the creation of new pools is a function of the protocol’s DAO.

    As such, the community can vote to introduce additional pools. Unlike other DeFi platforms, Swerve does not whitelist smart wallets allowing projects like Yearn.Finance and other DeFi-based smart contracts to participate in its votes.

    Swerve Token ($SWRV)

    Swerve’s native token is called Swerve token (SWRV) and it is supplied to the community without a reserve for founders or the team. SWRV has a total supply of 33,000,000 tokens, which are unlocked on a yearly basis, with all coins going to liquidity providers.

    However, the first distribution of nine million SWRVs occurred 2 weeks after launch. The first year will see liquidity providers receive another 9 million SWRV tokens. The remaining 15 million tokens will then be equally spread over five years at a rate of 3,000,000 tokens per year.

    How to Farm SWRV

    Visit Swerve.fi, click “Swerve app” and connect your Metamask wallet. Other wallet options include Ledger, Dapper, and Trezor. Stuck? Check out our MetaMask guide.

    Next, access the “Pools” tab. Click on “$ SWEVE POOLS $” where you will be able to see the pools for 4 stablecoins (i.e. DAI, USDC, USDT and TUSD). Note that the “POOL APY” means the APY you get for providing liquidity to the stablecoin pools, whilst “SWRV APY” refers to the APY for staking your tokens.

    Once you enter the pools you will be taken to the “BUY and SELL” tab where you can buy the supported stablecoins directly (though payments must also be in other supported coins). Alternatively, you can just obtain the stablecoins directly from Uniswap.

    Go to the “DEPOSIT” tab. Here you will be able to select the amount of stablecoins you want to add. In “Advanced options” you can also set the amount of slippage. Once you are done, you can go ahead and select “DEPOSIT”. There will be 2 transactions to confirm: (1) to approve the tokens to be used; and (2) to confirm your deposit into the protocol.

    By depositing into the Swerve pools you would be rewarded in SWUSD tokens i.e. Liquidity Provider (LP) tokens. To start earning some of the APY referred to on the website go to the “DAO” tab, go to the bottom box titled “SWUSD LIQUIDITY GAUGE”. Use the slider to select the percentage of SWUSD you would like to deposit and click “DEPOSIT”. Depositing SWUSD here gets you SWRV tokens in return.

    However, doing this does not enable you to earn the stated SWRV APY. To do so, you would have to “BOOST” their deposits to the maximum possible amount.

    To enable the “BOOST” feature, you will need to lock SWRV tokens. This is done on the same page and you can choose the amount and duration of the lock. Locking for a longer duration increases the amount of “boost” and you can see the amount of boost by going to the “CALC” tab.

    Note that locking SWRV tokens also enables you to exercise voting powers on how the protocol should be run.

    To see more about Swerve’s statistics such as total value locked, price, 24-hour volume and market cap etc, see the Swerve dashboard which was created by @Chickenpie347, a member of the Swerve community.

    Conclusion

    It is noted that Pecksheild has completed the highly anticipated audit of Swerve and no critical vulnerabilities were found. However, on 6th October 2020 the Swerve team posted findings from 0xProject concerning a high severity exploit that would allow attackers to withdraw a large fraction of token balances when the smart contract’s amplification coefficient A is updated. Note that this also affects Curve Finance, as they both use the same contracts and see here for the full vulnerability report. Swerve posted they are working to fix this exploit and are attempting to reassure users that since there are no upcoming “A” factor changes which would trigger the vulnerability, the funds locked on Swerve are not at risk. However, one equally large obstacle faced by Swerve is the overall market sentiment which seems to have taken a negative turn, possibly due to a large number of other scams in this space. One will have to wait and see if Swerve can emerge as a survivor even in the face of these difficult circumstances.

    Decentralised Finance (DeFi) series: tutorials, guides and more

    With content for both beginners and more advanced users, check out our YouTube DeFi series containing tutorials on the ESSENTIAL TOOLS you need for trading in the DeFi space e.g. MetaMask and Uniswap. As well as a deep dive into popular DeFi topics such as decentralized exchanges, borrowing-lending platforms and NFT marketplaces

    The DeFi series on this website also covers topics not explored on YouTube. For an introduction on what is DeFi, check out Decentralized Finance (DeFi) Overview: A guide to the HOTTEST trend in cryptocurrency

    Tutorials and guides for the ESSENTIAL DEFI TOOLS:

    More videos and articles are coming soon as part of our DeFi series, so be sure to SUBSCRIBE to our Youtube channel so you can be notified as soon as they come out!

    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.

  • 8Hours Foundation (VIMworld) $EHrT: The Next Evolution of Gaming?

    8Hours Foundation (VIMworld) $EHrT: The Next Evolution of Gaming?

    8Hours Foundation ($EHrT) aims to integrate the real world into the blockchain to create beneficial implications for the time we spend with our friends and family. In line with this vision, the foundation partnered up with PlayTable, the world’s first blockchain-enabled game console, to facilitate social gaming platforms. EHrT, is the native currency of the PlayTable ecosystem. It is used for anything and everything for the PlayTable. Toymakers and game developers have to buy EHrT from the open market to register their toys or assign data to their products.

    Powered by VeChain’s blockchain technology, VIMworld is a smart NFT platform for collectables and digital characters. VIMs, or Virtually Integrated Metadata, are digital collectable tokens living on the VeChain Thor Blockchain. Each VIM can be seen as a digital character with unique properties and capabilities. They can be traded, collected, or used in PlayTable games.

    Background

    John Dempsey, the founder of the 8Hours Foundation, is both a gamer and a collector. These were exactly the same interests that allowed him to conceptualize the whole project and later be built together with his team and the community.

    Dempsey felt the need to use technology to bring people together through the help of social activities, such as games.

    He built the foundation to create a blockchain platform that encourages and rewards people when using it. The platform’s goal is to ensure that its participants can spend at least a minimum of eight hours per week being engaged in meaningful social interactions.

    What is the 8Hours Foundation?

    Eight Hours Foundation

    8Hours Foundation is an organization put together to build a real-life community even in the blockchain space. The primary purpose of the team’s efforts, as already mentioned, is to create a platform where people are rewarded for interacting with other individuals.

    The foundation collaborates with PlayTable, a blockchain-based gaming platform, to spearhead a program called ‘Toy Reality’. This way, they can build a virtual social network that emulates the real world through the tokenization of real-life assets on the blockchain.

    https://www.youtube.com/watch?v=5yzyZa3dZ0w&feature=emb_title

    A mixture of real-world and blockchain data storage technologies power the whole platform. Furthermore, RFID technology and tagging enable the creation of their verifiable blockchain counterpart. The same set-up supports ownership tracking, asset journey recording, and asset customization.

    Eight Hours Token ($EHrT)

    Eight Hours Token, or the EHrT, is the native token of the platform. It can be used as a medium of exchange, fees payment, staking, and voting. EHrT also has specific functions that help run the whole platform. Mainly, these are:

    • Authentic Asset Certificates (AAC) – In making blockchain representations of real-life objects, users have to spend EHrT. The process allows for the creation of AAC, which act as proof of ownership on a blockchain-counterpart of real-life assets. Additionally, these belong to the non-fungible token (NFT) classification, the same kind that allows for the tokenization of assets in the real world. For users to be able to register and join the platform, AAC’s are required.
    • In-Game Currencies (IGC) – Through EHrT, users can create in-game currencies. These are tokens that developers can create to back the economy of their games. Since these currencies can work cross-platform, other gaming systems on the 8Hours Foundation ecosystem can use them as well.
    • Colored Tokens – These tokens function like marks or records on an AAC that display their digital journey. This means that colored tokens can be referred to in looking for the history of an AAC’s ownership, its authenticity, progress, and wealth, among others. Furthermore, only developers can create new colored tokens and deposit them on AAC.
    $EHRT Token Mechanics
    $EHRT Token Mechanics (Image credit: 8hours Foundation Whitepaper)

    Other uses for the EHrT involve other financial services such as staking and rewards. But generally, EHrT is held by users for:

    • Staking – Through a grants system, users can make investments in the projects built within the 8Hours ecosystem. This entitles stakers to receive benefits from a platform in the event that they grow.
    • Reward – Through a rewards system, the platform incentivizes its users to participate in network activities, especially those that involve platform developments or updates. These users receive a proportional amount of EHrTs for their participation.
    • Support – Users who want to show their support on a platform that is currently being built, that can freely use EHrTs to fund a project.

    8Hours backs its transaction system with the VeChainThor chain. This allows it to support a multi-party payment protocol without requiring gas fees that platforms usually charge whenever users perform these transactions.

    What is the VIMworld?

    VIMworld logo
    VIMworld logo

    Powered by EHrTs, the foundation has created VIMworld, a collaborative initiative between them and PlayTable, with the purpose of establishing a gaming platform built within its own ecosystem.

    VIMworld refers to a virtual community that gathers a collection of all Virtually Integrated Metadata (VIM) that its participants have created on the platform. These are powered by AACs that help VIMs store and verify data, record transactional history, as well as the whole journey of virtual objects, among others.

    VIM holders can then join any community activity with other users, or simply interact with them. These interactions are made possible by games that get people to perform certain tasks.

    Features of VIMs

    There are several features that help distinguish VIMs from the usual NFTs. These are:

    • User-managed – Owners of VIMs can only grow in value if the owner attends to them by participating in VIMWorld activities. In addition, they can be customized based on their history.
    • Asset-powered – VIMs require users to spend EHrTs from time to time if they want it to grow. This means that VIMs can hold actual value and grow at the same time.
    • Digital Representation – It is one of the more innovative aspects of VIMs. VIMs allow real-life objects like toys and collectibles to increase in value through their blockchain representations.

    As of late, the ecosystem behind VIMworld is already composed of more than 2,100 community members and 7,000 VIM collectibles. It is now considered one of the most adopted digital platforms, overtaking CryptoKitties’s record back in 2017.

    Gaining VIMs and Growing their Value

    VIMworld's Characters
    VIMworld’s Characters (Image credit: Vimworld.com)

    There are plenty of ways to gain VIMs, such as rewards when winning games from various platforms on the 8Hours Ecosystem, donations or incentives given out by the foundation, purchase from marketplaces, or acquisitions of toy packages.

    Besides representing the ownership of a user on an item or a game, VIMs are also valued based on the amount of game data and progress they hold. They are classified into a variety of rarities and tiers, but can be easily upgraded by adding more EHrT in them. Furthermore, higher-tiered VIMs accrue bigger benefits for its holders.

    VIM tiers
    VIM tiers (Image credit: VIMworld Whitepaper)

    VIMs can soon be traded on the VIMExchange, the marketplace that 8Hours designed to support all NFTs in the ecosystem. When more partnerships are established, VIMs can be made available for trading on other VeChainThor-compatible marketplaces.

    Conclusion

    Creating real-world use cases for blockchain technology is one of the biggest drivers for its adoption. And since social interactions have been reduced in this modern and digital age, having platforms that help alleviate this problem could certainly have a real use case.

    If VIMworld and 8Hours succeed in their goal, it can be a very interesting case study for the benefits that blockchain can bring. The project shows a promising potential to prove that the technology behind cryptocurrencies can be an effective instrument in bringing people together.

    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.

  • Flamingo Finance ($FLM): What is it?

    Flamingo Finance ($FLM): What is it?

    Flamingo Finance aims to provide everything a DeFi user needs in one swipe. The project is also built on the NEO blockchain, enabling it to evade the high cost and congestion of Ethereum. Here, we take a deeper look at Flamingo, why it chose NEO, its native token, and what it has to offer to DeFi enthusiasts.


    Background

    The protocol is a NEO Foundation project brought to life through the NEO Global Development (NGD) team and is meant to expand NEO’s vision of a smart economy. Flamingo offers an all-round service to its users by taking care of back end and front end issues under one platform.

    What is Flamingo Finance

    Flamingo is a full-stack DeFi protocol that is interoperable and powered by the NEO blockchain. Operations on the network are divided into distinct components to enable a smooth operation for the platform. (Modafinil) Currently, the system supports access using the NeoLine wallet for NEO assets, Metamask wallet for Ether (ETH) holders, and Cyano plugin wallet for ONT token holders.

    Flamingo’s 5 Key Components

    Flamingo ecosystem (Image credit: NeoNewsToday)

    Swap

    This handles automatic on-chain market making. The module interacts with wrapped tokens on the parent blockchain to provide liquidity. Uniswap, a leading DeFi platform, inspires its approach to automated market making. Liquidity Providers (LPs) converge on a pool by providing tokens with NEO’s standard, NEP-5.

    Wrapper

    Flamingo uses this component to power inter-chain interaction of blockchain assets. Wrapper works with Bitcoin, Ethereum, NEO, and Ontology, where tokens from these platforms can be ‘wrapped’ by being converted to NEP-5 tokens and used on the NEO network.

    Vault

    The Vault module provides an interface for managing, mining, and staking assets. Also, it handles the issuance of collateralized stablecoins. Vault stakers earn rewards in the form of the platform’s native token, FLM (more on the token later).

    Vault is projected to go live anytime between September 25 and 29 in 2020.

    Perp

    Perp is derived from the word perpetual and is designed with perpetual contracts in mind. It uses automatic market-making to power a perpetual contract exchange that deals with a host of assets. The exchange has a leverage of up to 10X for both long and short positions.

    Decentralized Autonomous Organization (DAO)

    In the decentralized world, everything should be distributed, including governance. Flamingo uses DAO to allow for optimum community involvement in the running of the platform. Issues that fall under DAO include token economics, functionality changes, and parameter configuration.

    Generally, DAO has a say in things happening on the Wrapper, Swap, Perp, and Vault modules.

    Flamingo Finance Token (FLM) and Flamingo USD (FUSD)

    FLM is Flamingo’s native currency dedicated to governance. It’s built using NEO’s NEP-5 standard. Interestingly, the token does not have a cap on its maximum supply.

    FLM coins are distributed to the community with regards to participation on the network. For example, the token will be given for staking cross-chain assets, staking LP tokens, minting FUSD, depositing stablecoins to provide a margin when interacting with perpetual contracts, and contributing to governance proposals.

    Note that before DAO takes over the governance, the Flamingo team will address governance issues through proof-of-authority (POA). FLM can be held by anyone wishing to join the NEO DeFi ecosystem. Furthermore, FLM holders are entitled to submit proposals to the DAO and also be able to vote for submitted proposals.

    Flamingo supports FIP and FCCP proposals.

    Flamingo Improvement Proposal (FIP) involves anything related to system design features such as risk control, liquidation, and liquidity improvement. Flamingo Configuration Change Proposal (FCCP), on the other hand, contains proposals directed towards the FLM release schedule, staking, fee structure, FLM distribution mechanism on the Perp module, etc.

    FUSD is a stablecoin on the platform that is pegged to the US dollar (USD). Staking LP tokens allows one to mint the stablecoin. However, to unlock their collaterals, the minted FUSD has to be burnt.

    Key strengths of Flamingo Finance

    Interoperability

    Flamingo is part of an ecosystem made up of NEO and the Poly network. Poly is a protocol developed on NEO in conjunction with Switcheo Network and Ontology. The protocol connects to other blockchain platforms such as Cosmos, Bitcoin, Ontology, and Ethereum.

    To bring the interoperability factor, Flamingo connects to NEO, NEO connects to Poly, and Poly connects to other decentralized networks.

    Capital Efficiency

    Popular decentralized exchanges (DEXs) using an automatic market maker model underutilize capital from LPs. Flamingo provides capital efficiency by clustering individual aspects such as a liquidity pool (LP) and a collateral pool.

    For instance, Swap handles the LP while Vault provides the collateral pool. Therefore, LPs can provide liquidity in Swap and still stake their tokens in Vault.

    Fair Launch

    To enable a fair launch for all, the platform does not support a pre-mine. Neither does it allocate coins to its founding team. Instead, all FLM tokens are distributed to the community.

    What is Flamincome?

    Being a DeFi-focused platform, it has a dedicated platform for yield farming or liquidity mining; Flamincome. The system provides yield farming functionalities identical to those offered by Yearn.Finance (YFI).

    Flamincome
    Flamincome (Image credit: Medium)

    Flamincome comprises an optimizer and a normalizer. An optimizer converts staked assets into interest-focused assets, while a normalizer changes interest-based assets into synthetic assets with a 1:1 peg ratio to the underlying asset. Synthetic assets can be transferred to other DeFi networks for additional liquidity mining.

    Flamingo Swap: What is it?

    Flamingo Swap is one of the modules on Flamingo Finance’s DeFi platform. It is an on-chain automated market maker powered exchange that allows users to swap one token from another. Similar to other swapping platforms, Flamingo Swap needs users to add token pairs into these pools which in turn creates a supply for traders to come in and exchange tokens. Users i.e. LPs who add tokens to specified pools are rewarded for their contribution as they receive a distribution of the trading fees (currently 0.3% per swap) and LP Tokens. The LPs can then stake these LP Tokens in the Vault and get FLM in return.

    Note the below section titled “Flamingo swap launch and change of $FLM distribution: 5th Oct 2020” to see which Vaults are eligible for distribution of FLM rewards.

    How to add liquidity to Flamingo Swap and what are my rewards?

    By way of example, if you wanted to be a LP for the FLM/nNEO trading pair you would need to do the following steps:

    1. Go to the “Pool” tab on the Swap page;
    2. connect your NeoLine wallet;
    3. click “Add Liquidity” and choose FLM and nNEO. Note the the amount deposited must be of equal value based on the market price of the tokens but this will be calculated for you;
    4. check the respective exchange prices for the FLM and nNEO tokens and the share of the pool your liquidity will form after adding the same. If this is confirmed by you, click “Supply” and confirm; and
    5. the NeoLine wallet will pop up and you will be asked to adjust and agree to the GAS fee to be paid for this transaction.

    For a full walkthrough on how to provide liquidity to Swap and withdraw your liquidity from the same, click here.

    LPs will be rewarded with LP Tokens, in this illustration, the LP would get FLP-FLM-nNEO tokens. They will also get a share of the fees collected from traders equal to the proportion of their liquidity in a pool. So for example, if their deposited liquidity forms 2% of the FLM/nNEO pool they would get 2% of all the trading fees paid by traders, which is 0.3% per swap.

    LPs can then stake their LP Tokens in specified trading pairs to get FLM. For a walkthrough on how to stake assets, claim FLM and remove your staked assets from the Vault, check out the detailed guide from Flamingo here.

    LATEST NEWS

    Are you eligible for refund of Flamincome withdrawal fees?

    Due to an issue with the Flamincome interface, some users who withdraw USDT before 5:00am (UTC) on 26th September 2020 were charged 0.5% withdrawal fees without their knowledge. Flamingcome will refund the withdrawal fees to these users, which Founder Da Hongfei said on Twitter he will “personally subsidize”.

    There is also a proposal being put forward to extend this refund period to any deposits that were made before 5:00am (UTC) on 26th September 2020 but “…withdrawn before 3 hours after the MintRush Resume.” Which from our understanding would be 4:00pm (UTC) on 25th September 2020.

    Flamingo swap launch and change of $FLM distribution: 5th Oct 2020

    At the initial launch of Flamingo Swap, only 6 trading pairs will be supported i.e. FLM/nNEO, pnWBTC/nNEO, pnWETH/nNEO pONT/nNEO, nNEO/pnUSDT and pnWBTC/pnUSDT.

    As Mint Rush 2 has finished distribution of rewards, FLM tokens will no longer be distributed to single-asset stakers. Instead, only users who stake LP Tokens from specified trading pairs in the Vault will continue receiving FLM. From 1:00pm (UTC) on 5th October 2020 to 1:00pm (UTC) on 7th October 2020, 2,857,143 FLM will be distributed per day to these trading pairs in the following proportions:

    • FLP-FLM-nNEO 20%
    • FLP-pnWBTC-nNEO 20%
    • FLP-pnWETH-nNEO 10%
    • FLP-pONT-nNEO 5%
    • FLP-nNEO-pnUSDT 20%
    • FLP-pnWBTC-pnUSDT 25%

    From 1:00pm (UTC) on 7th October 2020 to 1:00pm (UTC) on 14th October 2020, 1,071,429 FLM will be distributed per day in the same proportion as above.

    SCAM ALERT: Flamingo airdrop

    There is currently a Flamingo airdrop scam which asks participants to send their NEO tokens to a “designated contribution address” where you can get FLM tokens at a rate of 1 NEO=1,000 FLM.

    The @FlamingoAirdrop as well as the FlamingoFinanceAirdop Telegram Channels are FAKE. Be careful!

    Fake Flamingo account
    Fake Flamingo account

    I have all this FLM? What happens next?

    FLM is currently listed on the following exchanges: Binance, FTX (FLM-PERP)

    Conclusion

    A full-stack DeFi protocol, like Flamingo, presents numerous advantages to DeFi users. And among them is capital efficiency, where LPs can provide liquidity and collateral at the same time.

    The inclusion of a yield farming system gives DeFi enthusiasts a similar but improved network to YFI and SushiSwap.

    Decentralised Finance (DeFi) series: tutorials, guides and more

    With content for both beginners and more advanced users, check out our YouTube DeFi series containing tutorials on the ESSENTIAL TOOLS you need for trading in the DeFi space e.g. MetaMask and Uniswap. As well as a deep dive into popular DeFi topics such as decentralized exchanges, borrowing-lending platforms and NFT marketplaces

    The DeFi series on this website also covers topics not explored on YouTube. For an introduction on what is DeFi, check out Decentralized Finance (DeFi) Overview: A guide to the HOTTEST trend in cryptocurrency

    Tutorials and guides for the ESSENTIAL DEFI TOOLS:

    More videos and articles are coming soon as part of our DeFi series, so be sure to SUBSCRIBE to our Youtube channel so you can be notified as soon as they come out!

    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.

  • MEME ($MEME): A DeFi Joke?

    MEME ($MEME): A DeFi Joke?

    MEME ($MEME) is a hybrid between decentralised finance (DeFi) and non-fungible token (NFT) on the Ethereum blockchain. NFTs are tokens that represent unique digital items with verifiable scarcity. They can be used to represent digital ownership as with the case of rare cryptocurrency art. MEME allows users to stake tokens to farm limited edition NFT memes.


    Background

    MEME started out as a meme. Yes, it was a joke made by Jordan Lyall, the DeFi Product Lead at ConsenSys. Lyall’s Twitter post joked about an offering that could allow easy and fast (less than five minutes) creation of a DeFi platform.

    A Twitter user took the joke seriously and created MEME coin. “I was commenting on the silliness of it all. But in doing that, I’ve created the very thing I sought to destroy,” Lyall commented after the coin went live.

    The birth of memes dates back to 1976 when the word appeared on ‘The Selfish Gene’, a book by Richard Dawkins. In the book, memes are portrayed as ideas quickly spread from one person to another within a community. They have since found their way into our daily lives to refer to the viral spread of information on the internet.

    What is MEME?

    MEME is a decentralized project connecting the DeFi world with NFTs through yield farming or liquidity mining. The network stresses that it does not offer coins for sale but allows farming. The system was launched on August 14, 2020, and has since attracted a ton of attention from the crypto community.

    MEME’s Meteoric Rise

    The genesis of the project’s meteoric rise dates back to Lyall’s tweet, which garnered 1,200 likes and a high number of retweets within minutes. After its launch, it was listed on CoinGecko with a hard cap of 28,000 tokens.

    It was followed by an exclusive Telegram airdrop that was done 30 minutes after launch. After launch, the protocol’s Telegram community grew to over 3,000 participants. In its first few days, MEME reached a 24-hour trading volume of $1.2 million with a single coin changing hands at $40.

    MEME token
    MEME token (Image credit: Coingecko)

    Roughly a month later, MEME was trading at $795, had a one-day trading volume of $8.8 million, and a market capitalization of $18.7 million. Also, the coin moved from position 610 in early September 2020, to 276 as of September 18, 2020, based on market cap.

    By September 18, MEME token holders were roughly 1,400 while the NFT holders were about 700.

    How to farm MEME?

    Farming requires staking MEME and then receiving rare NFT versions. This increases liquidity mining opportunities for DeFi enthusiasts. As with other DeFi systems that support yield mining, farming MEME involves liquidity mining pools.

    Note that the NFTs up for grabs are created by a select number of artists. The first digital artist listed is Sven Eberwein, a popular digital artist living in Los Angeles.

    MEME Artist - Sven Eberwein
    MEME Artist – Sven Eberwein (Image credit: dontbuymeme.com)

    Eberwein combines internet culture with computer graphics. Sven “works of the internet, by the internet, for the internet.” The artist’s first MEME-themed collections are titled ‘Don’t buy MEME,’ ‘Volatile Pineapples,’ The MEME Shitcoin Cycle,’ and ‘Crashtest (Because it will).’

    According to Eberwein, MEME’s uniqueness comes from being the first to capture the DeFi and meme worlds.

    MEME farming pools

    Genesis pool

    MEME farming pool - Genesis
    MEME farming pool – Genesis (Image credit: dontbuymeme.com)

    This accommodates the staking of MEME tokens.

    • The first step is to access the pool from https://dontbuymeme.com/farms .
    • Then the next step is to unlock your Web3 wallet. Note that Web3 wallets are just browser functionalities added to the standard self-custody wallets to allow access and usage of decentralized applications (Dapps). Wallets in the Web3 ecosystem include Metamask, imToken, Huobi, AlphaWallet, Enjin, infinito, Opera, Trust Wallet, Coinbase, Dexwallet, Ledger, exodus, Trezor, and Mist.
    • Approve MEME
    • Enter between a maximum of 5 and a minimum of 1 MEME token. Rewards from farming on the platform are called pineapples. For instance, staking 5 MEME results in five pineapples per 24 hours.
    • Claim NFT. This can only be done when the required number of pineapples has been farmed.

    MEME Genesis LP pool

    MEME farming pool - Genesis LP
    MEME farming pool – Genesis LP (Image credit: dontbuymeme.com)

    Here, Uniswap V2 liquidity pool (UNIV2-LP) tokens are staked to earn pineapples.

    • To get the tokens, stake Ether (ETH) and MEME tokens on the Uniswap pool. However, to receive approximately 0.0002 UNIV2-LP tokens, one needs to stake roughly 50 MEME coins and ETH of equal value.
    • Access https://dontbuymeme.com/farms to join the LP Genesis pool.
    • Unlock your wallet.
    • Approve the tokens from Uniswap and specify your stake amount. The pool supports a maximum of 0.0002 and a minimum of 0.00004 UNIV2-LP tokens. As with the previous pool, the minimum amount staked births one pineapple per day while the maximum stake results in five pineapples per 24 hours.
    MEME Genesis Economics
    MEME Genesis Economics (Image credit: Don’t Buy $MEME Medium article)

    A pineapple farmer can claim their NFT of choice when they have enough pineapples. Note that pineapples cannot be shared between pools and the amount staked must not exceed the set limits to avoid failed transactions.

    NFTs earned from mining MEME can be sold on OpenSea, a marketplace for trading NFTs and virtual currency collectibles. OpenSea lists assets created using Ethereum’s ERC-721 and ERC-1155 standards.

    MEME at OpenSea
    MEME at OpenSea (Image credit: OpenSea)

    Governance

    As with other non-custodial financial systems, MEME handles governance issues through a decentralized autonomous organization called MemeDAO. To be a member, you have to hold a minimum of 100 MEME tokens. Towards the end of August 2020, $1.7 million worth of capital was locked in the DAO.

    Conclusion

    In the cryptocurrency community, memes are used as a universal language and MEME joins others like Doge and CoronaCoin that started as a joke but attracted interest from the crypto community.

    MEME’s uniqueness comes from its connection with the DeFi and NFT world, which adds a new reward stream for yield farmers. However, it’s yet to be seen how long ‘a joke’ can be taken seriously.

    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://colorreflections.com) 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.

  • Kyber Network ($KNC): On-chain Liquidity Protocol

    Kyber Network ($KNC): On-chain Liquidity Protocol

    Kyber Network is an Ethereum-based protocol that can access any ERC-20 tokens, bridging liquidity pools and enabling tokens swaps all under a single platform. It is a tool for payments, financial applications, and liquidity providers.

    Background

    Loi Luu, CEO of Kyber Network, conceptualized the platform out of the need to link liquidity pools across different blockchains to facilitate cost-efficient trading. The team also decided to do away with the centralized model for creating new exchanges because of their dark history with hacking and fraud, with Mt. Gox being a notorious example.

    With decentralised finance (DeFi) leading the crypto space, it was also ideal for the team to create an ecosystem born out of the same model. Through DeFi, Kyber can connect liquidity pools with one another to create a cost-efficient exchange that can accommodate smart contract innovations as well.

    What is Kyber Network?

    Kyber Network Explained
    Kyber Network Explained

    Kyber Network is a decentralized cryptocurrency exchange (DEX) powered by smart contracts. It is designed to support liquidity pools from different blockchains for market-making, allowing traders to get the best rates out of their transactions. The DEX currently lists 81 cryptocurrencies and 82 trading pairs.

    Kyber’s main goal is to aggregate different liquidity providers in a single, unified ecosystem where users can conduct their trades conveniently. Since the network is decentralized, even users can provide liquidity by staking in Kyber’s partner pools.

    The architecture of Kyber allows for instant transaction settlement while offering a wide array of use cases, such as building new financial services and operating crypto-based payment systems. Through its flagship models like Peace Relay and the Waterloo Relay Bridge, Kyber connects multiple blockchains together in creating a liquidity network that can be deployed in almost every other protocol.

    Included in Kyber’s thrust is to create a community-guided network through governance tokens. Like other decentralized autonomous organizations (DAO), users can help maintain the network by voting on important protocol updates, parameters, and implementation features.

    Features of the Kyber Network

    The design of the network is mostly facilitated by smart contracts that can work cross-chain. As mentioned, the end goal is to make a market that offers the best token exchange rates for traders and the best returns for liquidity providers.

    • Aggregated Liquidity Pool: The protocol can put together different liquidity sources into a single pool to reduce the risk of huge spreads and help traders get the best value out of their transactions. Users do not have to broadcast multiple trade calls in order to find the best prices themselves.
    • Diversified Liquidity Source: Since the system of the network is designed for cross-chain functionality, any other liquidity network can connect with Kyber to join the platform.
    • Permissionless: Unlike centralized exchanges, the network is not governed by a single company. This gives more freedom for liquidity providers or developers to work on their own strategies without the risk of an entity monopolizing control over the exchange platform.
    Kyber Network: Features
    Kyber Network: Features

    Users can receive the best return out of their transactions with Kyber, whether they are the ones initiating trades or providing liquidity.

    • Quick Transaction Settlement: Through the help of smart contracts, traders can make orders and complete them with just a single transaction. Smart contracts are coded to complete a series of transactions without requiring the user to make multiple trading calls just to achieve their own objectives.
    • Atomicity: Kyber does not allow transactions to be partially executed, differentiating them from centralized exchanges where users are exposed to the risk of their trading calls not being completely executed. With Kyber, it is either the trade is finalized wholly, or they do not get executed at all.
    • Transparency: Anyone can launch a query from smart contracts to check the rates offered by liquidity providers. This gives the public the best transparency over their transactions.
    • Interoperable: Since trades are trustless and atomic, they can be easily plugged into other smart contracts in the platform. This enables the network to simply execute trades through smart contract functions.

    Network Actors

    Kyber Smart Contracts: They are the backbone of the protocol, supporting functions such as listing and delisting of trading pairs, reserves, and queries, among others.

    Takers: These can be any blockchain entity that gathers the liquidity coming from reserves listed within the network to facilitate trades from token-to-token.

    Reserves: These are liquidity sources for the network that supply the token inventory and prices in Kyber’s smart contracts. Reserves determine the price for a particular asset as well as their supply.

    Kyber Network's Protocol Overview
    Kyber Network’s Protocol Overview

    Kyber Network Crystal Token ($KNC)

    Kyber Network Crystal ($KNC) is Kyber’s economic, governance, and treasury token. KNC was launched in September 2017 with the aim to raise 200,000 ETH. The KNC token distribution is as follows: 61.06% to public; 19.47% to team; and 19.47% to founders, advisors and seed investors.

    How KNC is used differs across chains. But mainly, here are the use cases for the KNC token:

    • Economic Facilitation: KNC can be used to facilitate system operations, such as payments for every transaction made within the network, or to incorporate into the market spread. To get instant liquidity, users can also pay fees in KNC and get their transactions confirmed right away.
    • Treasury Funds: The distribution of all KNC in total supply will include an allocation for the platform’s reserves. This reserve can be used by network maintainers and members of the DAO to fund network development. This is designed to support developers and network contributors by giving them an economic return for their work with KNC.
    • Governance Token: Holding KNC gives users the chance to vote on important protocol decisions such as token parameters, network upgrades, and token listing, among others.

    KyberDAO

    KyberDAO, above all the things that have already been mentioned, incentivizes users to remain active in the network. But the following are key network parameters that KNC holders can vote upon:

    • Voting Rewards: This is the allocated reward for stakers and governance participants.
    • Burning: KNC holders can vote on whether to decrease the total supply of the KNC token.
    • Reserve Incentives: This is the allocated reward for Kyber’s reserve managers.

    As of now, Kyber is in charge of maintaining the DAO. They are facilitating community discussions, decision making, and execution of community decisions. This will remain so until more operational parameters in the network can be integrated with DAO votes.

    KyberDAO rewards
    KyberDAO Rewards

    Staking and Voting

    There is a fixed period of time where users are allowed to stake and vote. These are called “epochs,” which is a denomination of Ethereum block times. Each epoch lasts for two weeks until the next cycle starts.

    This allows Kyber to hasten the reward period for KNC holders and DAO participants, which also incentivizes them to vote within a fixed amount of time.

    Delegating

    If a KNC holder decides not to vote but keep a share in its rewards, they can delegate their voting power to another party who will do so on their behalf. They then retain their control of their KNC, which they can withdraw or use to transfer delegation to another party.

    Conclusion

    Many DeFi projects had their weaknesses exposed due to the volatility of crypto assets. However, Kyber Network is one of the few to have weathered the price instability of a lot of digital currencies in recent months.

    So far, Kyber seems to be a very promising DeFi innovation that promotes a community-governed network. With the progress that it has made, Kyber is considered to be one of the toughest players in the DeFi space.

    Decentralised Finance (DeFi) series: tutorials, guides and more

    With content for both beginners and more advanced users, check out our YouTube DeFi series containing tutorials on the ESSENTIAL TOOLS you need for trading in the DeFi space e.g. MetaMask and Uniswap. As well as a deep dive into popular DeFi topics such as decentralized exchanges, borrowing-lending platforms and NFT marketplaces

    The DeFi series on this website also covers topics not explored on YouTube. For an introduction on what is DeFi, check out Decentralized Finance (DeFi) Overview: A guide to the HOTTEST trend in cryptocurrency

    Tutorials and guides for the ESSENTIAL DEFI TOOLS:

    More videos and articles are coming soon as part of our DeFi series, so be sure to SUBSCRIBE to our Youtube channel so you can be notified as soon as they come out!

    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.

  • DeFiPie ($PIE) – The SuperApp of DeFi?

    DeFiPie ($PIE) – The SuperApp of DeFi?

    DeFiPie ($PIE) aims to launch the first decentralised finance (DeFi) SuperApp that integrates data and information from all the disconnected DeFi services and protocols. Built on Polkadot, the app focuses to improvise user experience (UX) and interconnectivity of the DeFi ecosystem.

    Background

    DeFiPie boasts of a team of highly skilled and experienced professionals. The Core team members include CEO and Co-founder Aleksei Kopievskii, a well-known web developer with over 8 years of experience. He has been actively involved with several tech startups and has functioned as an investor and advisor to many of them.

    Kopievskii also brings his years of experience to the DeFiPie ecosystem. Other important members of the team are Co-founder and CTO, Maksim Malikov, and CMO, Alymbek Sariev.

    What is DeFiPie?

    What is DeFiPie?
    What is DeFiPie?

    DeFiPie is a marketplace that aims to unify the current DeFi space, which is quite fragmented. It will provide a single gateway to crypto staking, liquidity mining, lending, yield farming, etc.

    The platform is concerned with bringing interconnectivity and better UX to the highly disjointed DeFi space. It functions as a super app that provides users with easy access to a wide variety of DeFi services from a single interface. DeFiPie users will enjoy several interesting benefits, amongst which are:

    • Automatic lending on the platform’s P2P loan market.
    • A wide variety of assets like XTZ, ATOM, DOT, and ADA, which are available for staking
    • Effective matching of loans with DeFiPie’s advanced matching algorithm.
    • The ability to create lending, staking, and liquidity pools.

    One of the announced blockchains that will join the DeFiPie ecosystem is TomoChain, a scalable proof-of-stake blockchain geared towards enterprises.

    DeFiPie Use cases

    Lending-as-a-Service (LaaS)

    One very important aspect of most DeFi protocols is lending. Many protocols, however, offer automated lending solutions. This means that users have no control over their loan offers. With DeFiPie, both lenders and borrowers have the option to choose between automated, semi-automated, and manual lending options. This provides users the freedom to choose which service is most beneficial to them.

    Users deciding to choose an automated DeFiPie lending option will receive loans at an automatically determined interest rate. The drawback to this option is that they might not get the best interest rate available. However, manual lending options furnish a user with total control over the lending process.

    This allows them to determine important details like interest rate, loan timeline, loan-to-collateral ratio, amongst several others.

    Staking-as-a-Service (SaaS)

    Users with large holdings of PIE tokens have the option to create a staking pool on DeFiPie. This is where other interested users can merge their tokens for staking, subsequently, increasing the interest rates of all parties involved.

    Stakers on DeFiPie pools also pay one of the lowest fees in the entire DeFi space. And what’s even more exciting is the fact that despite being in a staking pool, users still retain absolute control over their assets. Staking rewards paid in PIE tokens also attract higher rewards compared to those who are paid in other tokens.

    Liquidity Pools-as-a-Service (LPaaS)

    On DeFiPie, users have the option of investing their crypto in any liquidity pool of their choice. They subsequently earn rewards based on the number of assets they invested. All pool members also receive a share of trading fees. When a user places a certain amount of crypto assets in a liquidity pool, they immediately receive a corresponding amount of PIE tokens.

    These tokens will help improve liquidity in the entire ecosystem. Users on the platform can also create their own liquidity pools easily. They will, however, have to determine important details like interest rates, collateral choice, and many more.

    Custom lending pools

    As earlier stated users with enough PIE tokens can create their decentralized lending pools. Users in this pool decide on the workings of the pool. This is unlike conventional DeFi protocols where mechanics are determined by algorithms. In this case, members decide on details such as PIE holdings required to become an admin or to receive voting rights, utility rates, lending rates, collateral, etc.

    Collateralization Options on DeFiPie

    Simply put, this means allowing users to earn rewards on their stand-in PIE tokens. Unlike conventional DeFi protocols, users will earn PIE on their assets. PIE earned this way can furthermore be used as loan collateral.

    Yield farming

    Users receive PIE tokens as incentives for each day that they are active on the system. In addition, actions carried out on the platform are rewarded with PIE. This helps to ensure a balance between supply and demand on the DeFiPie system.

    Interested users can also farm PIE by simply locking up assets on DeFiPie.

    DeFiPie use cases
    DeFiPie Use Cases

    DeFiPie ($PIE) token

    PIE is the native token of the DeFiPie ecosystem. It is a huge way to earn passive income as users are rewarded with PIE in the DeFiPie ecosystem. The token is required before users can carry out specific tasks on the DeFi platform, including:

    • Creating and participating in a custom lending or liquidity pool, as well as partaking in P2P lending.
    • Creating or accepting manual loan service offers.
    • Users also need PIE tokens to start a staking pool.

    PIE token holders will also be eligible to receive annual yield farming rewards of up to 150%.

    The total supply of PIE token is 220,000,000, of which 45.45% are for staking rewards, 21.05% were sold during the seed round and private sales, 6.82% are reserved for DefiPie Vault, 6.82% for operations, 11.36% for team and advisors, 2.27% for community and 2.27% for the DeFi fund.

    Where is DeFiPie listed?

    PIE is currently listed on Uniswap and TomoDex.

    DeFiPie roadmap: What’s next?

    DeFiPie’s roadmap will be in 3 major categories: Development, Marketing and Operational. The project is expected to be fully completed in Q4 2021 and currently they are on track in terms of the timetable they have set out.

    DeFiPie roadmap
    DeFiPie roadmap (Image credit: Twitter)

    Conclusion

    DeFi is already in the limelight despite its myriad of protocols that lack refined UX. Many analysts have pointed out that more substandard DeFi protocols are expected to come in the crypto space. However, DeFiPie is out to change this narrative.

    The DeFi platform has designed an app with 360° coverage and connectivity of other protocols, which would help weed out subpar projects in the space.

    Decentralised Finance (DeFi) series: tutorials, guides and more

    With content for both beginners and more advanced users, check out our YouTube DeFi series containing tutorials on the ESSENTIAL TOOLS you need for trading in the DeFi space e.g. MetaMask and Uniswap. As well as a deep dive into popular DeFi topics such as decentralized exchanges, borrowing-lending platforms and NFT marketplaces

    The DeFi series on this website also covers topics not explored on YouTube. For an introduction on what is DeFi, check out Decentralized Finance (DeFi) Overview: A guide to the HOTTEST trend in cryptocurrency

    Tutorials and guides for the ESSENTIAL DEFI TOOLS:

    More videos and articles are coming soon as part of our DeFi series, so be sure to SUBSCRIBE to our Youtube channel so you can be notified as soon as they come out!

    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.

  • Rio DeFi ($RFUEL): The next frontier of finance?

    Rio DeFi ($RFUEL): The next frontier of finance?

    Rio DeFi ($RFUEL) is a blockchain technology company. It aims to bridge the traditional finance with the blockchain space with its powerful digital infrastructure, Rio Chain. It focuses on security, speed, scalability, and interoperability with existing blockchain.

    The whole Rio ecosystem promises a wide array of services that users can utilize as an alternative from the traditional financial system. From savings and lending services to trading and insurance opportunities. All of these are accessible with just a smartphone and internet connection.

    Background

    James Anderson, the CEO of Rio DeFi, as well as his team, believes that today’s financial system is in dire need of new development that can respond to the needs of globalization. Services provided by intermediaries such as payment solutions and money transfers, or control of fiat currencies by local governments, bear multiple concerns that impact the whole financial landscape as we know them today.

    The team behind Rio worked on an ecosystem that can easily be used by users in their daily lives to perform financial transactions without much friction and cost. And at the heart of the project is the objective to support the mass adoption of cryptocurrencies among the general public.

    There is still a lot of work to do but Rio has developed a model that can respond to the rapidly-changing international financial landscape.

    What is RIO DeFi?

    Rio Chain is a decentralized finance (DeFi) service platform powered by smart contracts. The purpose of the platform is to provide an ecosystem that can back decentralized applications (dApps) providing financial services based on a single but effective and fast blockchain.

    It is built on its own chain, seeing the problems that the Bitcoin and Ethereum networks are experiencing. Right now, the volume of transactions that are going through those top chains has caused slow transactions, expensive gas costs, and poor adoption rate. There had to be another platform to base their new ecosystem on and it was the Rio Chain that they came up with.

    Through Rio DeFi, new dApps can support new wallets, services, and cryptocurrencies.

    How RioDeFi works
    How RioDeFi works

    Parity Substrate

    Rio’s team believes that the best way to move forward with crypto development is to create a blockchain that can freely interact with the others. That is why they went on to implement the Parity Substrate technology to enable other blockchain projects to easily plug into Rio through parachains.

    Parachains are standalone blockchains that can be used to develop new dApps which can be conveniently deployed onto other chains without any interoperability issues.

    Parachains
    Parachains

    Three Main Focuses of the Rio project

    Rio’s solution to the all too common problem of slow, inefficient, and expensive blockchains is a model that supports their three main focuses, namely: usability, scalability, and security.

    Hybrid model: Putting together a new network that can provide scalability and higher transaction throughput (with as fast as two seconds per block in confirmation time) is achieved by developing a federated model for the Rio blockchain.

    Flexibility: Through the deployment of virtual machine interpreters with very low client requirements and customizable consensus algorithms rid the Rio chain of rigidity and risks of centralization. Everything built on top of the Rio chain can be easily adjusted according to the prevailing market conditions without any friction when it comes to implementation.

    Interoperable: Because the Rio chain is designed to support easy linkage between other chains, it can efficiently connect different organizations together despite the difference in their blockchain platforms.

    Three main focuses of RioChain
    Three main focuses of RioChain

    Consensus Algorithm (Proof-of-Authority)

    Rio uses the Proof-of-Authority (PoA) consensus mechanism that adopts Substrate’s Aura (Authority round) and GRANDPA (GHOST-based Recursive ANcestor Deriving Prefix Agreement) consensus algorithms.

    These two new combinations for the PoA implementation ensures that there are different algorithms that govern how the block data is handled and how finality is achieved for each transaction. By delegating the task of splitting block data writing to Aura, and handing over the finality verification process to GRANDPA, Rio has achieved better flexibility without compromising the security of the transactions performed on-chain.

    In the pipeline is Rio’s plan to switch to Proof-of-Stake (PoS), similar to the consensus mechanism implemented on the Bitcoin blockchain. As of now, the team behind Rio is working on shifting to BABE (Blind Assignment for Blockchain Extension) from Aura to lay the groundwork needed for the eventual PoS adoption.

    • AURA: It is designated as the consensus algorithm to produce the next blocks from confirmation. It functions through the help of a select set of validators that generate the blocks at a given time. Only the authorized nodes are allowed to become validators.
    • GRANDPA: It is delegated with the task of providing block termination with the help of “weighted authorities.” They are not going to produce any block for the network, but they vote on the “best” version of the blocks produced by the validators. If more than two-thirds of the delegated authorities vote on a version of the state of the blockchain, it is then considered final.

    Federated Blockchain

    Rio believes that a federated blockchain is better than a permissionless public blockchain for several reasons. It provides faster transaction speed, scalability, low transaction costs, low energy consumption, stronger security, and increased ability to provide data privacy features.

    The implementation of the federated model allows Rio to achieve a 2-second block time confirmation, faster than other existing blockchains in the DeFi space. And even at this speed, Rio chain is still capable of protecting the network from 51% attacks while being able to process almost 3,000 transactions per second.

    Right now, the team behind Rio is considering the implementation of a hybrid PoS and PoA consensus model, complemented by light node validators. This means that anyone can probably be able to participate in network validation with just mobile phones as the assigned nodes.

    Rio Fuel token ($RFUEL): Rewards for token holders

    Rio rewards its blockchain participants with Rio Fuel ($RFUEL), which is also its native token. RFUEL can be used as a store of value, payment for gas fees, or to execute smart contracts.

    1 billion RFUEL tokens will be created via a token generation event (TGE), which 70% of these tokens will be distributed to incentivise applications and users that contributes to the growth of the ecosystem, 20% will be sold through community crowd sales and private sales, and 10% (100 million) will be maintained as reserves that will slowly release over the span of 5 years.

    Refer to the chart below for more detailed on RFUEL token distribution:-

    RFUEL token distribution

    Rio Fuel token ($RFUEL): public sale

    The first round public sale of Rio Fuel’s RFUEL token was sold out in 40 minutes on 11th September 2020. The first round price is at $0.16, minimum contribution cap is USD $1,000 and maximum contribution cap is USD $10,000. Vesting period is 61 days with unlocks of 1/3 starting at Token Generation Event (TGE) and on days 31 and 61 after TGE.

    The second round was held on 15th September 2020 at 6:00 a.m. UTC. The price for round 2 will be at $0.18, minimum contribution cap is $1,000 and maximum contribution cap is USD $10,000. Vesting period is 1 month with unlocks of 1/4 on TGE and on days 11, 21, and 31 after TGE. All vested tokens are automatically staked to receive RFUEL staking rewards.

    RFUEL public sales round 3 is a Uniswap Initial DEX Offering (IDO). RFUEL will be available for trading on Uniswap with a starting price of $0.20 and all tokens will be fully unlocked i.e. immediately available for trading. However $0.20 is only the initial price and considering the previous rounds were all oversubscribed, there is a possibility that prices will immediately fluctuate after trading starts.

    For more detailed info, please check on Rio DeFi telegram.

    Use Cases of Rio Chain

    Bitcoin Lending Platform: Users can deposit their BTCs in smart contracts on top of the Rio Chain to earn interests from their assets. Borrowers can also easily leverage their BTC by borrowing through the Rio Chain.

    Bitcoin lending platform
    Bitcoin Lending Platform

    Savings Account: Rio’s security can be a haven for BTC savers too. Users can safely deposit their BTC and other supported cryptocurrencies while earning high-interest rates as compared to traditional savings services from banks and other providers.

    Savings Account

    Decentralized E-commerce: Merchants can freely tap on the Rio chain to digitize their business and cut huge operational costs in doing so. Establishing their managing and sales operations on the Rio Chain can enable merchants to access a wider array of shoppers thanks to lower costs, better payment gateways, borderless transaction models, and greater consumer data privacy, among others.

    Conclusion

    The development of the DeFi space relies on the success of projects that are able to bridge all existing developments on multiple blockchains. This is especially true for useful innovations that are stuck in high-traffic networks. If adoption is the goal, building an interoperable blockchain that supports cross-chain implementation is a great way to go about it.

    Rio DeFi’s blockchain-agnostic model could create an infantile avenue of innovations in the DeFi space. By bridging different blockchains together, not only can we possibly achieve faster adoption, but also greater interest in developing interoperable DeFi models as well.

    Decentralised Finance (DeFi) series: tutorials, guides and more

    With content for both beginners and more advanced users, check out our YouTube DeFi series containing tutorials on the ESSENTIAL TOOLS you need for trading in the DeFi space e.g. MetaMask and Uniswap. As well as a deep dive into popular DeFi topics such as decentralized exchanges, borrowing-lending platforms and NFT marketplaces

    The DeFi series on this website also covers topics not explored on YouTube. For an introduction on what is DeFi, check out Decentralized Finance (DeFi) Overview: A guide to the HOTTEST trend in cryptocurrency

    Tutorials and guides for the ESSENTIAL DEFI TOOLS:

    More videos and articles are coming soon as part of our DeFi series, so be sure to SUBSCRIBE to our Youtube channel so you can be notified as soon as they come out!

    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.

  • DOS NETWORK ($DOS): DECENTRALIZED ORACLE SERVICE NETWORK

    DOS NETWORK ($DOS): DECENTRALIZED ORACLE SERVICE NETWORK

    DOS NETWORK ($DOS) is a scalable layer-2 network that offers Decentralized Oracle Service that securely and reliably collects real-world data, event and computation power and delivers them to blockchain systems. Apart from allowing blockchains to interact with external data, the network also allows communication between blockchains.

    In this guide, we take a closer look at DOS Network, its use cases, incentives to miners, architecture, as well as two of its main components.


    Background

    The development of DOS Network was made possible by blockchain technology, with a special focus on smart contracts and decentralized applications (Dapps). At present, these two areas are seeing increased attention but with only a few tangible results. The DOS system seeks to contribute to the crypto space by commercializing Dapps and boosting large-scale adoption of smart contracts.

    To do this, the project envisions a scenario where smart contracts can independently fetch internet data and activate web application programming interfaces (APIs). Additionally, the protocol’s background is hinged on making on-chain computations less expensive while improving scalability.

    This would allow artificial intelligence model training, matrix multiplication, and 3D rendering, among other applications, to be commercialized while using smart contracts.

    The whole project is supported by the DOS Foundation, along with several key partners including QuarkChain, BKEX, Ultrain, Meter SERO, IOST, and Enterprise Ethereum Alliance (EEA).

    What is DOS Network?

    DOS Network is a decentralized oracle service network meant to boost blockchain-based systems’ interconnection with real-world data. It is built as a scalable layer-2 protocol that offers decentralized data feed oracles.

    What is DOS Network?
    What is DOS Network?

    The protocol is also built to be chain-agnostic and completely decentralized. Therefore, it is compatible with all existing smart contract blockchains. This enables the DOS Network to function as a distributed computational oracle that is verifiable and usable by established blockchains such as Tron and EOS.

    Furthermore, the network is also horizontally scalable, which means that the more nodes run on its system, the greater its computation power becomes. Being decentralized and designed with a crypto economic model, the DOS Network is resilient to sybil attacks and other cyber attacks.

    Major parts of DOS Network

    DOS Network Key Components
    DOS Network Key Components

    The DOS Network has two key components in its system: the on-chain and off-chain parts.

    On-chain

    The on-chain component deals with everything on the blockchain. It’s made of a set of the protocol’s contracts that handle computational result verification, node staking, payment processing, and other functionalities on supported blockchains.

    For ease of use, the contracts have a uniform user interface across chains.

    Off-chain

    The DOS network’s off-chain system focuses on client software operated by third parties in search of economic rewards. The software is made of a blockchain adaptor module, off-chain group consensus modules, among others. Generally, the off-chain part has a distributed data feed and a computation oracle.

    DOS Network Mainnet: Caelus

    DOS Network Mainnet - Caelus
    DOS Network Mainnet – Caelus

    On July 10, 2020, the DOS Network Caelus mainnet officially went live. The mainnet brought with it real-time verifiable results, enhanced security, and scalability. In addition, the launch was accompanied by a blockchain explorer which allows users to query available on-chain information.

    DOS Network: Use Cases

    Bridging the gap between decentralized systems and real-world data leads to multiple enticing use cases. While the utilities for DOS are limitless, they can be summarized into:

    Distributed Derivatives

    A financial contract between individuals can be hindered by a lack of trust, especially on a decentralized platform. To promote stability, a smart contract takes care of a derivative’s short and long positions.

    Although other projects like Decentralized Derivative Association are working on expanding the use of smart contracts on the derivatives market, DOS Network still has its place. The protocol can be used to securely access and feed the contracts with settlement values and price feeds.

    Stablecoin External Data

    In this context, Tether (USDT) is eliminated from the equation because it is issued by a centralized company and can be manipulated.

    Here, we recognize the likes of DAI and kUSD, which are stablecoins pegged to an underlying asset. As a result, these currencies need systems like DOS Network to trustingly provide data, such as the current exchange rate of their underlying assets.

    Decentralized Lending

    Decentralized finance (DeFi) has added great momentum to decentralized lending. And to ensure a fair loan process, the DOS protocol can be used to provide market rates and monitor the equivalence between the amount loaned and collateral provided.

    Also, it can be used to monitor the loan terms and activate liquidation.

    Distributed Insurance

    Insurance is one of the top sectors that would greatly benefit from blockchain technology. With projects like Etherisc looking into crop insurance, flight delay insurance, the DOS protocol can be utilized to feed them with the external data they require.

    DOS Network enables policy underwriting and making payout decisions on decentralized insurance applications by providing the required external data.

    Distributed Casino

    With conventional casinos having up to 15 percent house edge, decentralized casinos are the answer to fairness, transparency, and near-instant payouts. But, with random number generation being at the core of every casino game, providing verifiable random numbers on blockchain systems is difficult.

    To solve this, DOS Network can feed Dapps with verifiable and secure random numbers that are unstoppable, untamperable, and unbiased.

    Decentralized Prediction Markets

    This can be anything from election predictions to sports betting. Decentralized oracles provided by the DOS system can help solve these types of disputes safely and quickly.

    Decentralized Computation Execution Scalability

    The system can allow users to avoid costly on-chain computations and offer privacy to computing tasks. With low costs and private analyses, DOS Network can enhance scalability on Ethereum and other supported smart contract platforms.

    DOS Token ($DOS): What is it?

    DOS Network ($DOS) has a native virtual currency that follows ERC-20 standards. The token is used for both governance and incentivizing network participants. Participants on the network include Dapp developers, Node runners, and premium data providers. (https://nuttyscientists.com/)

    The DOS token supply is hard-capped at one billion. DOS tokens was allocated for mining incentive (35%), ecosystem building (19%), community token promotion (1.5%), private sale (14.5%), team (15%), foundation reserve for marketing, legal, PR & etc (10%) and advisor (5%).

    On Aug 17 2020, DOS Network has announced 2 improvements to the DOS token economy: liquidity rewards and token burning.

    Liquidity rewards

    The team will provide 100,000 DOS tokens every 7 days from the foundation reserve as liquidity rewards, of which 50% will be rewarded to the DOS/ETH pool on Uniswap V2 and 50% to the DOS/USDC pool on Balancer.

    Token burning

    Another 100,000 DOS tokens from the foundation reserve will be burnt every 7 days. Besides, staking interests incurred by foundational nodes (namely Gaia, Zeus, Hera, Ares, Athena, Apollo, Muses, Hades, Poseidon, Odin, Thor, Loki, and The Oracle of Delphi) will be burnt every 14 days and will not enter circulation.

    For more info, please visit here.

    Conclusion

    The interaction of blockchain-based systems with real-world data is the key to explosive blockchain adoption. This can happen in sectors like insurance, casinos, prediction markets, peer-to-peer lending, DeFi, all thanks to the DOS Network.

    Furthermore, allowing decentralized nodes to secure the network through a proof of stake-based system eliminates the need for highly specialized mining equipment, decreases the confirmation time, and increases the capacity of transactions.

    Decentralised Finance (DeFi) series: tutorials, guides and more

    With content for both beginners and more advanced users, check out our YouTube DeFi series containing tutorials on the ESSENTIAL TOOLS you need for trading in the DeFi space e.g. MetaMask and Uniswap. As well as a deep dive into popular DeFi topics such as decentralized exchanges, borrowing-lending platforms and NFT marketplaces

    The DeFi series on this website also covers topics not explored on YouTube. For an introduction on what is DeFi, check out Decentralized Finance (DeFi) Overview: A guide to the HOTTEST trend in cryptocurrency

    Tutorials and guides for the ESSENTIAL DEFI TOOLS:

    More videos and articles are coming soon as part of our DeFi series, so be sure to SUBSCRIBE to our Youtube channel so you can be notified as soon as they come out!

    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.

  • Bella Protocol ($BEL): One-Click Crypto Banking

    Bella Protocol ($BEL): One-Click Crypto Banking

    Bella Protocol ($BEL) provides a suite of decentralized finance (DeFi) products, allowing users to access existing DeFi protocols. It is the first project to be hosted on Binance’s Launchpool platform. Launchpool is a brand-new initiative designed to bring the DeFi experience to Binance users. Users can stake their crypto holdings, including ARPA, BNB and BUSD, in return for rewards in newly-listed tokens, of which BEL is the first one offered.

    Background

    The team behind the protocol is led by Co-founders Felix Xu (CEO) and Yemu Xu (CGO). Felix has been active in the cryptocurrency scene since 2018 while Yemu bought his first Bitcoin (BTC) in 2016 and has never looked back. Before creating Bella, the CGO had held notable positions at Fidelity Investments, which has $3.3 trillion of assets under management, and Boro, a fintech startup.

    Furthermore, Yemu has links with ZhenFund, a reputable venture capital firm in China. Other team members include individuals with a rich background in blockchain engineering, cryptography, and finance.

    In 2019, the team got into DeFi by providing liquidity to various lending platforms and decentralized exchanges (DEXs). However, the team identified inefficiencies that it took upon itself to solve.

    Their motivation comes from the realization that the DeFi market:

    • Is worth trillions of dollars.
    • Has a low adoption rate.
    • Charges a ton in transaction fees.
    • Struggles with a system of earning rewards.
    • Has limited interaction between DeFi and centralized finance (CeFi).
    • Lacks mobile-friendly products.

    And to add, DeFi products use smart contracts, which is still a foreign subject to most people.

    What is Bella Protocol?

    Bella Protocol is a network of open financial tools that aim to boost the adoption and ease of use of DeFi systems while throwing in a banking aspect into it. The network’s main offerings include a customized robot-type advisor, a lending protocol, a yield farming tool, and a savings account. The system claims to take conventional mobile banking “into crypto with just 1-click.”

    The one-click is brought about by packaging complicated ideas into simple, actionable plans via automation.

    With Bella, DeFi users can comfortably conduct yield farming without having to jump between protocols. The network relies on complex arbitrage methods as the team behind believes they will see DeFi users grow tenfold.

    Bella and its co-founders have a deep connection with ARPA, a layer-two distributed system built on top of Ethereum. A part of its functions includes asset custody and inter-chain operability. Bella is meant to push ARPA’s vision forward by being at the core of the DeFi revolution.

    As such, Bella’s early supporters and users come from the ARPA community with a global presence. The community is spread across various social media platforms such as WeChat (over 40,000 people), Weibo (52K+ followers), Twitter (20K+ followers), Telegram (15K+ members), among others. ARPA is listed on Bithumb, Kucoin, Binance, Gate.io, Huobi Global, among other exchanges

    Bella Protocol key partners
    Bella Protocol key partners

    The project is backed by key partners such as Binance, Arrington XRP Capital, AlphaBit, and The Force Partners.

    Major Bella Tools

    Bella Lending

    Bella Lending supports tokens used in liquidity pools, carries a referral bonus, and powers yield farming and liquidity mining. Generally, it acts as a distributed and flexible money distribution point.

    Bella 1-click

    With a single click, the protocol brings DeFi features to a central point. Interestingly, it lowers gas fees to zero and acts as a smart portal.

    Bella Robot-like Advisor

    A robot is a program that takes large amounts of data and computes the most probable outcome. For Bella, a robot calculates the risks and provides a tailored exposure to stablecoins capable of bringing yields during farming, among other user-focused customizations.

    Bella Flex Savings

    Here, the system’s users are exposed to arbitrage strategies capable of earning the highest rewards in yield farming. Flex Savings accommodates multiple stablecoins and virtual currencies. However, these strategies are based on a user’s risk level. For instance, if a user stakes USDT, 40 percent can be used to farm yields on Compound (COMP), 40 percent on Curve Finance (CRV), and 20 percent distributed to newer protocols.

    Between Q4 2020 and Q3 2021, the network will see the launch of the 1-click protocol, Flex Savings, Lending tool, and conduct more user growth campaigns, as well as add other features.

    Bella Token ($BEL)

    The protocol uses a native currency, BEL, to tackle voting and governance issues. The token is designed using Ethereum’s ERC-20 standard.

    The token is used for fee collection, rewarding its holders, and staking. BEL has a hard cap of 100 million tokens. The tokens are distributed among the Binance Launchpool (5%), auction (2%), private sale (6%), ecosystem (18%), reserve (4%), user growth (40%), staking (10%), and the team (15%).

    Rewards for BEL stakers come from the management fee charged by the protocol for its products. Apart from staking, BEL tokens can be used to take interest instead of receiving rewards in the token invested. For instance, Flex Savings’ users who have deposited USDT and earned an interest of 1,000 USDT can opt to receive the interest in BEL for a bonus.

    Binance Launchpool

    Bella Protocol (BEL) is first project to be hosted on Binance Launchpool. Users will be able to stake their ARPA, Binance Coin (BNB), or Binance USD (BUSD) tokens into three separate pools to farm BEL tokens, starting from 20/09/09 0:00 AM (UTC) to 2020/10/09 0:00 AM (UTC). On 2020/09/16 6:00 AM (UTC), Binance will then list BEL and open trading for BEL/BTC, BEL/BNB, BEL/BUSD and BEL/USDT trading pairs.

    Bella Protocol will be on Binance Launchpool
    Bella Protocol will be on Binance Launchpool

    BEL Launchpool Details:

    Token Name: Bella Protocol (BEL)

    Private Sale Token Price: 1 BEL = 0.75 USD

    Launchpool token rewards: 5,000,000 BEL (5% of Total Token Supply)

    Total Token Supply: 100,000,000 BEL

    BEL staking period
    BEL staking period

    Supported Pools:

    Stake BNB: 4,500,000 BEL in rewards (90%)

    Stake BUSD: 450,000 BEL in rewards (9%)

    Stake ARPA: 50,000 BEL in rewards (1%)

    Users can go to Binance Savings page to stake their tokens. Just click on the BNB, BUSD or ARPA flexible savings products with a “Launchpool” label. (Diazepam) For more information, please refer here.

    Binance Savings Page
    Binance Savings Page

    How to calculate the amount of BEL tokens you will get?

    Staked BNB, BUSD and ARPA balances will be recorded each hour for 30 days after the staking period begins to get an average daily staking balance for each day. Rewards allocated to each pool will be split evenly every day over the 30 day period.

    Calculation for BNB pool stakers:

     5,000,000 x 90% / 30 = 150,000 BEL tokens per day

    Each participant’s rewards will then be calculated every day based on their ratio of BNB staked compared to all BNB staked in each pool.

    Example:

    User A: Stakes 5,000 BNB for 12 hours on thefirst day

    Average amount of BNB for all users (across 24 hours): 100,000BNB

    Calculation: ((5,000 x 12 / 24 ) / 100,000) x 150,000 = 3,750 BEL tokens

    Conclusion

    The DeFi scene continues to witness increased activity from users and developers alike even if the adoption rate is quite slow.

    For traditional investors to join the space, there needs to be a clear and robust connection between DeFi and CeFi. One way to bring this connection is through products like Bella that bring a familiar offering to those rooted in conventional financial methods.

    Bella’s mobile-friendly products, such as tools for yield farming, lending, savings, and a customized risk assessment Robo-advisor, are the key to driving the mass adoption of DeFi. Furthermore, a smooth user experience, as well as the utility and incentivization of BEL tokens also adds value to the protocol, which in turn, helps speed up adoption.

    Decentralised Finance (DeFi) series: tutorials, guides and more

    With content for both beginners and more advanced users, check out our YouTube DeFi series containing tutorials on the ESSENTIAL TOOLS you need for trading in the DeFi space e.g. MetaMask and Uniswap. As well as a deep dive into popular DeFi topics such as decentralized exchanges, borrowing-lending platforms and NFT marketplaces

    The DeFi series on this website also covers topics not explored on YouTube. For an introduction on what is DeFi, check out Decentralized Finance (DeFi) Overview: A guide to the HOTTEST trend in cryptocurrency

    Tutorials and guides for the ESSENTIAL DEFI TOOLS:

    More videos and articles are coming soon as part of our DeFi series, so be sure to SUBSCRIBE to our Youtube channel so you can be notified as soon as they come out!

    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.

  • OIN Finance ($OIN): DeFi’s first foray into Ontology

    OIN Finance ($OIN): DeFi’s first foray into Ontology

    OIN Finance ($OIN) devised a way to build a Decentralised Finance (DeFi) project that seeks to deliver what most Ethereum products can too, but on a different blockchain — the Ontology network. This can potentially solve issues of blockchain congestion and rising gas fees which recently is a cause for concern and a real obstacle to mass adoption.

    As the first DeFi project running on Ontology, it is interesting to know what they have done and what they have in store in the space in the months to come.

    Check out our explainer video on OIN Finance:

    Background

    Renard Zhang, CEO of OIN Finance and his team began the project with a three-pronged mission of promoting DeFi, becoming a gateway for DeFi, and helping it grow into a more mature market. The team helped recreate the developments of the decentralized technology from the Ethereum ecosystem into the Ontology blockchain.

    What is OIN Finance?

    OIN Finance is a DeFi ecosystem focused on providing a liquidity pool lending platform on top of the Ontology network. Its purpose is to create a cross-chain interoperable platform for services like lending, borrowing, swapping, and minting of stablecoins.

    With OIN, users can add liquidity on their own decentralized exchanges (DEX) and build their own market makers through OINSwap. Another project inside the OIN ecosystem is OINLend, where users can make loans or borrow cryptocurrency assets.

    Other services available in the ecosystem are OINWallet, OINDAO, and the USDO stablecoin. Through OIN’s bridge technology, these services built on the platform can be accessible to the Ethereum community, as well.

    For now, OIN is focusing on building the Ontology network to provide low-cost services while avoiding the congestion problems that users experience in the Ethereum blockchain, more so recently. Once the project has a strong enough user base on the ONT DeFi platform, they can move to scale the project further.

    The road ahead for OIN is to first build a community of early adopters and give them an opportunity to be a part of the initial pool of stakers. Then, it can be made available to the larger public.

    Cross-chain interoperability

    OIN’s architecture enables the growth of not only its own platform but also the whole DeFi space, by linking several blockchains together. Its cross-chain design opens up the platform to other existing networks to expand offerings to a vast number of users.

    Decentralization

    By adopting Tendermint’s consensus algorithm, nodes can function without any problem whilst trying to achieve consensus. And through its own stablecoin, there are enough incentives for nodes to continue securing and maintaining the health of the network.

    Data Security

    OIN uses Merkle proof to secure the data of its users. In such a set-up, any information on actions initiated on top of the Ethereum blockchain will be kept in a secure line of codes so they cannot be written back to.

    OIN Finance’s Services

    OINSwap V1 Pool

    OIN will launch the first DEX on Ontology, enabling Ontology users to conveniently trade their ONT tokens with the tokens supported by OIN. The swap pool powers the whole DEX while its prices are determined by prevailing market conditions. V1 and V2 pools are currently in the works and there is no official launch date yet.

    OIN swap v1 pool
    OIN swap v1 pool

    OINSwap V2 Pool

    As soon as the cross-chain bridge is successful, and ERC-20 assets can run to and from the Ontology network, they can begin the operation of OIN Swap’s V2 pool. In here, OIN tokens are used to reflect the value of some tokens into OIN Swap.

    OIN Swap v2 pool

    OIN Wallet

    OIN Wallet can be used to store tokens supported by the Ontology and Ethereum network. As soon as the second phase of the project is completed, which is to successfully run the Ontology-Ethereum bridge, OIN wallet can be able to access other Ethereum-based DeFi projects. These are protocols such as Curve, Balancer, or Compound.

    OIN wallet
    OIN wallet

    USDO

    USDO is the stablecoin of the network, pegged to the US Dollar. It is the first decentralized stable token built on top of Ontology. USDO is backed by Ontology’s native token, ONT.

    The stablecoin can be used to deposit into OIN Swap or OIN Lend pool to gain profits from staking and liquidity mining.

    $OIN Token

    OIN token is the native asset of OIN Finance. It will be utilized as the governance token, as well as for collateral rewards and clearing compensation.

    Through OIN token, the platform implements a community governance model to manage operations. Elaborately, the token can be used to pay for transaction fees, staking, or community voting.

    OIN token is hugely popular. The public sale of the token was around 50 times oversubscribed and was launched on Uniswap and Bitmax and BiBox on 3rd September 2020. Those lucky few that were able to get into the public sale, purchased their OIN tokens at USD$0.08, and considering prices of OIN at the time of writing is almost USD$1, these holders have every reason to be ecstatic.

    OIN DAO

    OIN DAO also has the ability to issue USDO. Since USDO is collateralized by ONT, it has its own pool in the Ontology platform. Those who have ONT can mint USDO at an initial collateralization rate of 300%.

    The clearing mechanism (similar to how liquidations work in MakerDAO) kicks in if the collateralization of the USDO drops below 180%. But if users do not wish to borrow or lend USDO, they can send them over to OIN Swap or OIN Lend to do liquidity mining.

    OIN Lend

    Lending is decentralized on the OIN platform. Through smart contracts, both lenders and borrowers can safely deposit tokens to become underlying assets on the platform. Then, OIN chooses between different tokens supported by the Ethereum and Ontology network to mint OIN tokens at a specific exchange rate.

    A minimum over-collateralization of 150% is required for loans, similar to other DeFi lending protocols. The interest fees are determined automatically by smart contracts based on different market factors such as supply and demand.

    Interests are accumulated per block and a portion of it is kept in the reserves. This is to allow lenders the option of withdrawing their token deposits should they wish to do so.

    OIN Chain

    OIN Chain is a layer built on top of the OIN platform designed to support the cross-chain interoperability feature of the protocol. This will help integrate Ethereum’s DeFi projects to also supply more assets in the Ontology network. (nelsongreerpainting)

    It will be a multi-functional adaptor that will bridge both Ethereum and Ontology, as well as more public chains in other developments ahead.

    Liquidity Mining and Staking

    Half of all the OIN token supply is generated from liquidity mining and staking. The supply created via stakers will be derived from USDO collateral pools collected in the OIN DAO and OIN Lend platforms.

    OIN tokens that are created by way of liquidity mining will be injected in the OIN Swap pools. Once the OIN Lend pool is made available with its cross-chain architecture in place, ERC-20 compliant tokens can be staked too.

    Exactly 40% of all minted tokens are distributed every day via staking rewards, while the remaining 60% will be distributed as liquidity mining rewards. Through OIN DAO, the community can decide how to shift the ratio of the daily reward allocation for the network.

    Conclusion

    As one of the pioneers of DeFi on the Ontology network, the outlook for OIN Finance appears increasingly positive, especially with Ethereum’s rising gas fees. While the number of DeFi projects launched on the Ethereum blockchain increases daily, whether they can continue to sustain their operations continues to be a prevailing concern.

    Establishing a successful proof of concept on top of other platforms for DeFi projects can be helpful for the community and whole crypto space at large. After all, it only adds more options for users to explore the services that fit their needs best.

    Decentralised Finance (DeFi) series: tutorials, guides and more

    With content for both beginners and more advanced users, check out our YouTube DeFi series containing tutorials on the ESSENTIAL TOOLS you need for trading in the DeFi space e.g. MetaMask and Uniswap. As well as a deep dive into popular DeFi topics such as decentralized exchanges, borrowing-lending platforms and NFT marketplaces

    The DeFi series on this website also covers topics not explored on YouTube. For an introduction on what is DeFi, check out Decentralized Finance (DeFi) Overview: A guide to the HOTTEST trend in cryptocurrency

    Tutorials and guides for the ESSENTIAL DEFI TOOLS:

    More videos and articles are coming soon as part of our DeFi series, so be sure to SUBSCRIBE to our Youtube channel so you can be notified as soon as they come out!

    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 AAVE ($LEND)?

    What is AAVE ($LEND)?

    Aave Protocol with their native token $LEND is a leading company within the decentralized finance (DeFi) sphere. The Company allows its users access to its open-source and non-custodial protocol to create money markets, joining a growing list of projects like Compound to bring decentralized options to the masses. We look at who is Aave ($LEND), its uses and how it differs from other projects such as Compound Finance.

    What is Aave?

    Named after the Finnish word for “ghost”, London-based company Aave was set up in September 2018 after a successful initial coin offering (ICO) the previous year for its ETHLend token which raised USD$16.2 million. The executive team under ETHLend migrated to Aave upon its establishment with ETHLend becoming a subsidiary of Aave. In January 2020, ETHLend announced it was no longer in operation and its website would only remain active for current users to close down their existing loans.

    Aave’s aim is to fill in the gaps left by centralised fintech industry giants like PayPal, Skrill and Coinbase. Their main product is Aave Protocol, an open source and non-custodial protocol for creating money markets on the Ethereum blockchain.

    Who is the team behind Aave?

    Aave has a wealth of talent and experience within its team. Stani Kulechov (CEO) and Jordan Lazaro Gustave (COO) have retained and migrated their roles from ETHLend, bringing their wealth of knowledge to Aave. Their diverse 18 man team bring together a wealth of experience in the startup scene.

    What is Aave Protocol?

    Aave’s biggest and most integral aspect is Aave Protocol which was launched in January 2020. Its shift from ETHLend marked a significant shift in strategy for the Company. Going from decentralized P2P lending to a pool-based strategy, Aave Protocol is an open source an non-custodial protocol that allows users to create their own decentralized money markets on the Ethereum blockchain.

    Aave Protocol
    Aave Protocol

    Depositors provide liquidity by depositing cryptocurrencies into lending pools which will then allow them to earn interest. Meanwhile, borrowers can obtain loans by tapping into these lending pools in either an overcollateralized or undercollateralized way. The loans do not need to be individually matched i.e. one lender to one borrower. Instead, deposits into the pool and the amounts borrowed/ collateral are used to make instant loans based on the pool’s state. There are currently 2 money markets that users can enter into, these are Aave and Uniswap.

    Aave markets
    Aave markets

    Flash Loans

    Aave has one feature that sets it apart from the rest. Flash loans allow customers or to take out loans without any collateral. These flash loans enable a customised smart contract to borrow assets from Aave’s reserve pools within one transaction. The loan is made on the condition that the liquidity is returned to the pool before the transaction ends. However, if it’s not repaid by that time, the transaction gets reversed- which will effectively undo any actions executed until that point and guarantee the safety of the funds in the reserve pool.

    The Fast Loan feature is designed for developers to make tools that require capital for arbitrage, refinancing, or liquidating purposes. Aave explained Flash Loans saying it is “designed for developers/people with some technical knowledge”, with the benefit of risk-free loans. Aave charges a 0.09% fee on flash loans.

    Rate Switching

    Rate switching is another unique selling point for Aave, which arrived during the May upgrade of their borrowing/interest rates. Rate switching allows borrowers to switch between fixed and floating interest rates, something useful in a volatile decentralized market. For high-interest rates, users will usually opt for the fixed-rate but when it is more volatile and expected to be lower, one might go for the floating option to reduce borrowing costs. The fixed-rate can change but only when the deposit earning rate increases above the fixed borrow rate as the system could get unstable by paying out more than its being paid. If so, the fixed rate is rebalanced to the new stable rate. On the other hand, when the variable rate is lower than the fixed-rate by 20%, the loan will automatically decrease to account for the difference.

    Which Cryptocurrency Tokens are linked?

    There are 19 tokens available on Aave. These include DAI, USD Coin (USDC), TrueUSD (TUSD), USDT Coin (USDT), sUSD, Binance USD (BUSD), Ethereum (ETH), Basic Attention Token (BAT), Kyber Network (KNC), ChainLink (LINK), Decentraland (MANA), Maker (MKR), Augur (REP), SNK, Enjin Coin (ENJ), REN, WBTC Coin (WBTC), Yearn.finance (YFI) and Ox Coin (ZRX).

    Please note: Each asset has a different collateral requirement. This is because of the differences in price volatility. Stablecoins naturally give loan-to-value ratios, due to their price stability. A full breakdown of Aave’s grading process can be found in their Risk Framework.

    Alongside these tokens, there is also a native token that Aave uses and which is called Lend. An explanation and analysis of the token can be found below.

    LEND ($LEND) Token

    Often referred too as ETHLend, the LEND cryptocurrency token has rolled over to become the native token of Aave following the winding-up of operations by ETHLend in January this year. Although it has kept the name, the new Aave version of Lend is largely different from the previous one.

    LEND token metrics
    LEND token metrics

    Binance Key metrics on Lend

    Built based on the ERC-20 standard, $LEND tokens can be used for fee reductions. The tokens are burnt from the fees collected from the Aave Protocol, with around 80% of platform fees used. This appears to suggest that Lend tokens will be worth more over time. LEND owners can also claim on protocol fees in exchange for acting as the first line of defense in the case of liquidity events by malicious borrowers.

    In addition, $LEND tokens can be used for voting on Aave Improvement Proposals (AIPs). What’s more, LEND holders can vote with their LEND deposited on the Aave platform, even if it is currently being used as collateral. Currently, this feature is pre-launched on the Ropsten test network before it is launched on the Ethereum mainnet. This is so the Aave community can vote on proposals without incurring huge gas costs, try out the module and provide feedback to the Aave team before it is formally launched. It is also worth noting that the outcomes of all votes on the testnet are not considered as valid for the long term.

    Voting on Aave
    Voting on Aave

    How to lend on Aave

    Depositing and earning interest on Aave is a simple process. Before you start, you must visit https://app.aave.com/ and connect using a web 3.0 wallet such as Metamask, Coinbase Wallet or Fortmatic.

    Depositing is easy, just simply pick your desired asset in which to invest and then allow Aave access to the asset. Once the transaction is processed, and the interest rate is confirmed you can check the rate changes on the Aave app. The interest-earning tokens are called aTokens which are similar to Compound’s C tokens.

    Interest generating tokens

    There are some differences between Compound’s tokens and the aToken. The main one being that the aToken’s keep their underlying assets price and will increase the amount of owned tokens when the price goes up rather than increasing the tokens price.

    Aave vs Compound ($COMP)

    Both Compound Finance and Aave appear to be the two top DeFi lending platforms. However, both have unique features that set them apart. Compound does have USDT as a usable asset, but Aave has a wider range of tokens on offer. For Aave, their new interest rates and regulations, like rate switching gives them a slight edge. For first time users, Aave offers great incentive rates. However, lending rates and Borrow fees are higher on average with Aave. Either way though, Aave has proven a good addition to the Defi community and should prove popular. You can read more about Compound ($COMP) here.

    Key features of Aave 2.0

    Aave 2.0 was announced on 14th August 2020. Aave Market now offers 19 assets, plus the Uniswap Market offers different Uniswap pairs as collateral. The platform has also grown to over 15,000 users. Here are some of the key new features which can be expected in Phase 2 of Aave.

    Pay with collateral

    Currently, if users want to repay their loan with part of their collateral they need to do 4 separate transactions on several protocols: withdraw the collateral, buy the cryptocurrency which is borrowed, repay the debt and unlock all the deposited collateral. With this new function, Aave users can deleverage or close their positions by directly paying with collateral in 1 transaction.

    Debt tokenization and native credit delegation

    Users’ debt positions will be tokens i.e. users will receive tokens which represent their debt. This enables native credit delegation within the Aave Protocol, in addition to other features such as native position management from cold wallets and user-specific yield farming strategies.

    Fixed rate deposit

    Deposits on Aave can generate predictable interest rates which are not bound by market variations.

    Improved Stable Borrow Rate

    This will further ensure the predictability of interest rates by locking down their borrow interest rate to a specified time period.

    Private markets

    Aave will allow governance to open private markets to open private markets to support all types of tokenized assets. The Aave team are also working on a collaboration with RealT which will bring mortgages onto Ethereum.

    Improved aTokens

    aTokens are Aave’s interest bearing tokens which are minted when a deposit is made and subsequently burned when redeemed. The aToken is pegged 1:1 to the value of the underlying asset deposited with Aave. In Aave 2.0, there will now be a version 2 of the aToken which integrates the EIP 2612 which allows for gasless approvals.

    Gas Optimizations

    This feature is currently in the works and will lead to a significant drop in transaction costs for most of the interactions on Aave. For some interactions the gas cost may even be reduced by 50%. Aave version 2 will also implement native GasToken Support.

    Security

    In version 2, the internal design has been made simpler, the architecture is also improved so it is more formal verification friendly. Aave is also working with top auditors such as Consensys Diligence and Certora- a leading company in automatic verification technologies.

    Native trading functionalities

    Aave v2 will introduce the ability for users to natively trade their debt position from one asset to another, i.e. you can borrow DAI, and if USDC becomes cheaper to borrow, you could change your debt position to USDC in one transaction.

    Users can also trade their deposited assets across the various cryptocurrencies supported by Aave, even when it is being used as collateral.

    Margin trading is also introduced in version 2, so users can directly take long and short leveraged positions without using third party services. Conversely with margin lending, liquidity providers can increase the weight of their deposits to take opportunities.

    Governance

    Aave version 2 also introduces several new governance features. Now, AAVE token holders can delegate their voting weight to any other address. Aave believes this may lead to the emergence of Protocol Politicians, who will represent the interests of their peers to delegated their votes to them. But unlike most representative democracies we see around the world today, vote delegation is a liquid democracy so this means a user can instantly remove the delegation in a single transaction if they so wish.

    The Aave team also recognises the pain points of the need to move tokens to another location to participate in governance. So Aave now allows users to be able to sign messages from their cold wallet to participate in Aave Governance. This will in turn reduce the security risk.

    References:

    AsiaCryptoToday: https://www.asiacryptotoday.com/aave/

    Decentralised Finance (DeFi) series: tutorials, guides and more

    With content for both beginners and more advanced users, check out our YouTube DeFi series containing tutorials on the ESSENTIAL TOOLS you need for trading in the DeFi space e.g. MetaMask and Uniswap. As well as a deep dive into popular DeFi topics such as decentralized exchanges, borrowing-lending platforms and NFT marketplaces

    The DeFi series on this website also covers topics not explored on YouTube. For an introduction on what is DeFi, check out Decentralized Finance (DeFi) Overview: A guide to the HOTTEST trend in cryptocurrency

    Tutorials and guides for the ESSENTIAL DEFI TOOLS:

    More videos and articles are coming soon as part of our DeFi series, so be sure to SUBSCRIBE to our Youtube channel so you can be notified as soon as they come out!

    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.