Yield farming is also referred to as “liquidity mining” and is one of the most popular methods to earn passive income. By using various decentralized finance (DeFi) protocols, users can lock-up i.e. stake their cryptocurrencies on the platform to earn the protocol’s native coins and tokens. These coins and tokens have various uses on the protocol, but their most lucrative feature is that it can be traded on cryptocurrency exchanges. This makes yield farming a great way for cryptocurrency traders to earn passive income.
Cosmos Inscriptions are a type of Non-Fungible Token (NFT) that are minted on the Cosmos blockchain network. Asteroid Protocol now enables the creation of these Cosmos Inscriptions and CFT-20 tokens. Here’s our guide on Cosmos Inscriptions and how to mint free CFT-20 tokens on Asteroid Protocol.
Check out our video on Cosmos Inscriptions: Mint FREE CFT-20 tokens before they go LIVE!
https://www.youtube.com/watch?v=3PR8m1I1ZKE
What are Cosmos Inscriptions?
Cosmos inscriptions are a type of NFT minted on the Cosmos blockchain network. Inscriptions are essentially individual JPEG images permanently written onto the Cosmos blockchain. This concept is deeply related to the Ordinals Protocol on the Cosmos Hub but extends to Cosmos ecosystem. They can be minted, traded, and potentially hold significant value based on their rarity and desirability within the community. These inscriptions can be unique and collectible, similar to how NFTs work on other blockchains like Ethereum.
How to mint Cosmos Inscriptions (CFT-20 tokens) for free?
Time needed: 5 minutes
Here’s how to mint Cosmos Inscriptions (CFT-20 tokens) for free:
Set up wallet
Download and set up a Keplr or Leap wallet.
Fund wallet with Cosmos ($ATOM) tokens
You will need to buy or transfer Cosmos $ATOM tokens to your Keplr wallet in order to stake it on validators. You can buy Cosmos $ATOM tokens on major exchanges such as Bybit. Note: 1 ATOM allows approximately 2000 inscriptions.
Choose what kind of JPEG image you want to inscribe on the blockchain. This JPEG image will then be your token. Note the JPEG must have minimum dimensions of 250×250, and maximum dimensions of 1024×1024. There is also a maximum file size limit of 550kb.
Create CFT-20 token
Click “CFT-20 Tokens” and then “Create”. Here you can create your token. Fill in the token information such as the title and ticker. Also, define the maximum supply of your token and then set the maximum you can mint at one time. Upload your JPEG and click “Create token”. Note you will need to pay transaction fees in $ATOM.
See your CFT-20 token
Go to “CFT-20 Tokens” and “Browse” to look up your token using the ticker you’ve assigned it. Then click “mint”. Remember, the number of times you can mint is determined by how much ATOM you have in your wallet, and you will need to click “mint” each time to mint 1 token. Please note, inscriptions haven’t started trading yet. However, you can mint and get ready for when the marketplace opens.
Mint Cosmos Inscriptions (CFT-20 tokens) on Asteroid Protocol
Conclusion
Cosmos Inscriptions are a type of Non-Fungible Token (NFT) that are created on the Cosmos blockchain network. The Asteroid Protocol now allows for the creation of these Cosmos Inscriptions and CFT-20 tokens. This is a little known yet potentially valuable avenue in the Cosmos Hub that could offer exciting opportunities. With our guide on how to mint free CFT-20 tokens on Asteroid Protocol, it is very simple and definitely worth a try. What’s more, it may only be free to mint CFT-20 tokens for a limited time!
The crypto market has been up and down in 2021, with the roller-coaster ride leaving many feeling dizzy. From Bitcoin and Ethereum to Non-Fungible Tokens (NFTs), investors have seen huge gains followed by big losses – and it doesn’t look like the turbulence will be ending anytime soon. Despite the volatility, NFTs have remained a major part of the market, as unique digital assets that provide scarcity and a purpose-driven approach to investment. However, one challenge that continues to plague the NFT market is the ongoing lack of clarity on copyright law and the digital-first sale practices emerging in the blockchain Napster era.
Cryptocurrency has made the concept of digital scarcity possible, as users are able to ensure that digital goods can exist in fixed quantities and have real genuine value. NFTs have become a popular use case for this kind of digital scarcity, as they represent digital goods that are indivisible and cannot be replicated, creating a unique and distinctive offering in the crypto market. However, because the law has not yet caught up with the technology, the courts remain stuck in the ‘Napster era’ when it comes to digital-first sale practices. This creates an ongoing challenge for creators of NFTs, as they may not have the legal ability to invalidate entire secondary markets.
The future of NFTs lies in projects that focus on utility, community building, and an authenticity that can be trusted to remain resilient in an ever-changing market. With the motto ‘buy the hype and sell the news’ driving the hype-driven market, savvy investors will look to identify projects that will stand the test of time. Projects that prioritize long-term utility, sustainable communities, and Web3 strategies will be best positioned to make it through the turbulence that is sure to continue in the months and years ahead.
The market for NFTs has been thrown a curveball in 2021, but with the right direction, it could be an incredible opportunity to establish strong digital-first sale practices and create a brighter future. As long as the law continues to catch up to the technology and creators ensure that projects are focusing on long-term utility, it is likely that the NFT market will continue to evolve and remain a key part of the crypto space for years to come.
Enjin is a blockchain gaming platform focused on the creation of digital collectible items that are truly owned by the user. The platform offers methods for creating digital assets (known as ERC1155 tokens) for use across multiple Video Games. Their uses include collectible art or even in-shop coupons. Blockchain gaming allows gamers to have true ownership of their in-game items and trade them for value.
Enjin Platform uses Blockchain technology for these key benefits:
True item ownership – with transactions that cannot be censored powered by the Ethereum blockchain.
Convenient Exchange of value – digital items can be traded or sold instantly. The Enjin Wallet also allows users to access decentralised exchanges such as Kyber Network and Changelly.
Reserve Value – unwanted digital items can be “melted” into the Enjin Coin cryptocurrency.
Single Wallet for all items – the Enjin Wallet users to keep all digital assets in one single location.
ERC-1155 Token Standard – a superior version of the ERC20 and ERC721 token. Its transaction bundling and multi-send features mean it will save users’ costs.
What is Enjin Coin (ENJ)?
Enjin coin’s (ENJ) value comes from its use case as a stored reserve value in every item created on the Enjin Platform. $ENJ is locked up when items are created and released when items are destroyed.
Items store (lock up) a certain amount of ENJ, with items such as the infamous “Monolith” storing 1,155,777 ENJ. ENJ from items can only be extracted by destroying the item (“via the melting process”). This creates a situation where more and more ENJ is locked up and overall supply is reduced as the platform is used by more games.
Popular meme “Melt is Murder” discourages the destruction of items
In terms of economics ENJ is a scarce resource and each game acts as a “value trap” for ENJ – locking up ENJ reserve and increasing the scarcity of $ENJ. With a limited supply of 1,000,000,000 $ENJ, this cryptocurrency acts as a form of “Digital Gold” – its value determined by the dynamics of supply and demand within the game’s ecosystem.
Enjinx showcases all valuable assets and games on the Enjin Plastofrm
Cross-game items – Enjin Multiverse
One of the unique advantages of Blockchain gaming is the ability to create items that can be used across different games by different developers. This means players can carry their items between games like it is a single world (also known as the Multiverse).
Multiverse items are possible because assets are stored on a decentralised blockchain – so independent developers can all access the item. To encourage the development of cross game items, Enjin announced its newest asset the Stormwall. It is an example of what we can expect with its gaming assets. Stormwall is a shield that moves across Enjin’s Multiverse of games.
In the below video we see Stormwall being as a playable item in 32 different games including 9Lives Arena, Age of Rust, Cats in Mechs and more.
Why is a Multiverse Beneficial?
One of the biggest questions asked about cross-game items is – why is it beneficial for game developers and players? For developers, supporting cross-game items mean that they gain the benefits of additional exposure from games participating in the multiverse and increased retention from players who want to test out the item. This is especially important in this age as player attention is extremely valuable and having players “check out” how an items works in a different game drastically improves player interest.
For players, having cross-game items mean that their items are naturally move valuable, especially long term value. This means that the effort used to earn valuable items are not wasted if they can be used in new upcoming games.
The Enjin Coin Ecosystem
Enjin have created an entire ecosystem where you can create, store, trade and use these items.
Enjin Wallet – Cryptocurrency wallet to safely store cryptocurrencies, blockchain gaming assets and exchange value. For more information check our EnjinWallet review.
EnjinX – Blockchain explorer to view transactions and items
Unity Plugin – Allows game developers to directly implement and issue items in games on multiple platforms like iOS, android, PC and MacOS.
Marketplace – buy and list items with the safety of smart contracts that independently facilitate the trade.
The Enjin Ecosystem
Enjin for Mobile Games
One of the biggest use case for non-fungible tokens is in mobile games. Mobile gaming is currently valued at $63.2 billion USD globally and growing on a year by year basis (Source: newzoo). Enjin has a direct partnership with game engine Unity which hosts the Enjin SDK which allows for easy integration of Blockchain assets directly into the game.
Enjin Partnerships
Enjin has a strategic partnerships with increase the rate of adoption of Blockchain Gaming and growth of the ecosystem. On the gaming side there is a partnership is with cross-platform game engine Unity with the introduction of the SDK
Samsung’s s10 presentation at MWC Barcelona 2019 that broke the internet
Enjin has been partnered with smartphone manufacturer Samsung Electronics to as a technology provider. Enjin Wallet directly interacts with the Samsung’s Blockchain Keystore, a trusted zone on new Samsung devices which is specifically designed to key cryptographic private keys safe. Samsung will also support Enjin’s ERC-1155 token standard and increase the adoption of Blockchain based non-fungible tokens.
Enjin and Microsoft Partnership
Microsoft Azure Heroes using Enjin ERC 1155
Microsoft has chosen Enjin as technology provider with the deployment of Azure Heroes, a program that will directly use ERC-1155 non-fungible tokens as a reward. This Blockchain-based reward will be given to contributors who help produce material for the Microsoft Azure platform, with participants given cute badge(r)s. For example, makers that contribute to the developer community or content heroes will be given rare badgers.
These collectable badgers are a proof of achievement as an Azure Hero which you can show off on your social media. As these are tokenized assets on the blockchain, they cannot be faked. So no fake achievements or heroes here!
Enjin Coin (ENJ) is now supported by the Aave Protocol. This means users can deposit ENJ in the Aave Protocol and earn interest whilst others borrow your ENJ. The Aave Protocol protects your deposits as it is controlled by immutable and transparent Ethereum smart contracts. Your ENJ is also secured by other cryptocurrencies left on the Protocol as collateral.
How to connect Enjin Wallet to Aave Protocol
Now with the Enjin-Aave partnership, you can directly interact with the Aave Protocol with your Enjin Wallet (which in our opinion is the best mobile wallet EVER). Here’s how: On the Enjin wallet, go to “DApp Browser”. On the search bar, go to app.aave.com. Click “Browser wallet” and when asked to choose your market, choose “Aave Market”.
Connect Enjin Wallet to Aave Protocol
Enjin and BMW
After much speculation, Enjin has confirmed they are partnering up with BMW to integrate Enjin Coin token swap into BMW’s Vantage App. The Vantage App is a Korean customer loyalty app for car-owners. Users can use the app to pay for goods/services such as gas, highway tolls and parking fees. There will also be referral rewards for dining and shopping.
Purchases on the BMW Vantage app are rewarded with BMW Coins which can be used as spending for various activities and be swapped for ENJ.
Note the token swap feature is not available on the Vantage App yet and according to Enjin, more details will be available once it is live.
Enjin putting property on NFTs with LABS Group partnership
Enjin is helping LABS Group put property on NFTs and the blockchain with its partnership.
LABS Group will be using Enjin’s NFT minting platform to tokenise real estate on the blockchain. LABS Group will be offering fractionalized deeds of real estate for as low as USD$100, allowing retail investors (particularly millennials) to finally enter and invest in the real estate market.
The range of real estate on offer will include buildings, hotel rooms and apartments. Trades will all take place securely through the regulated LABS Security Exchange.
This marks the introduction of blockchain into the world’s oldest and largest asset class, valued at approximately USD$228 trillion.
Enjin enters Japanese cryptocurrency market
Enjin will be the FIRST gaming cryptocurrency to be listed on Japanese cryptocurrency exchanges. And it is going straight for the top with one of the largest cryptocurrency exchanges- Coincheck.
Enjin ($ENJ) will be listed on Coincheck from 26th January 2021.
This is a significant first step for Enjin into the Japanese market. Enjin’s aims are twofold- for ENJ to be approved by Japan’s finance regulators and to promote adoption of the Enjin Platform in the Japanese gaming industry.
This listing was one and a half years in the making, having to pass the rigorous auditing and monitoring of the Japanese Virtual Currency Exchange Association (JVCEA)- formally recognised by Japanese financial regulators, the Japanese Financial Services Agency (FSA). The approval process for cryptocurrencies in Japan is notoriously difficult, with only 15 cryptocurrencies (including Enjin) being approved for listing on Coincheck.
Japan also has a fiercely competitive cryptocurrency exchange market with over 20 exchanges in operation. Coincheck is one of the largest cryptocurrency exchanges in Japan based on volume, founded in 2014 with over 1.7m users and counting, and prides itself on being the top downloaded cryptocurrency app in Japan.
As Enjin now has its foot in the door of the Japanese market, the Enjin team is now in discussions with various domestic companies and projects. With Japan being the pioneers of the gaming world (think Super Mario, Pokemon and Final Fantasy), it will be interesting to see what innovations Enjin can bring to the space.
Enjin is going to Japan! (Image credit: Coincheck)
Frequently Asked Questions
Does it cost ENJ to transfer tokens on Enjin Chain?
Enjin isn’t a blockchain, rather it’s a project built on Ethereum. In order to transfer Items (non-fungible tokens), you’ll need to use ethereum (similar to how ERC20 tokens work). In the future Enjin is explorer additional scaling options (Efinity) to allow for free item transfers.
What is the most EXPENSIVE item on ENJIN
The Monolith is the most expensive item on ENJIN, with 1,155,777 ENJ locked in the item. At the time of writing, this item is worth $168,000 USD!
What makes ENJIN valuable
ENJIN is a scarce resource, used to lock value into ever item created on the ENJIN platform. This means as time progresses and more games create items on ENJIN, more and more $ENJ will be locked up creating scarcity in supply
Where can I buy Enjin
$Enj is listed on all major exchanges, such as Binance.
Other Resources:
EnjinX – Blockchain explorer that tracks the Ethereum Blockchain, ERC-20 and ERC-1155 items Egamers – Enjin Games news website Everything Enjin – Great site covering Enjin Related News Multiverse Era – Telegram Channel about the Enjin Multiverse Castle Crypto – Coverage of Enjin games AsiaCryptoToday – cover of Enjin Platform
Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.
WAX Protocol ($WAXP) stands for Worldwide Asset eXchange. They are one of the safest and most convenient ways to create, buy, sell and trade virtual items i.e. non-fungible tokens (NFTs) through an integrated DPoS blockchain platform designed to work hand-in-hand with a microservice layer to improve the digital goods market’s infrastructure. Obtaining WAX knowledge has enabled innovators to develop a highly-connected and sophisticated marketplace that has brought a lot of value in digital goods projects.
This information here will help you learn how to incorporate the WAX Protocol within the WAX Platform and how the two tools complement each other. It’s worth noting that the WAX Platform is composed of the WAX Protocol and a microservice layer.
Learn more about WAX with our interview with Evan Vandenberg, Director of Business Development at WAX.
Profitable digital collectibles and blockchain gaming (with WAX blockchain)
Background
The WAX platform was founded by William Quigley and Jonathan Yantis, together they have vast experience in blockchain technology. Quigley is also the Managing Director of Cashel Enterprises, a cryptocurrency-focused investment vehicle which has incubated and invested in over 40 blockchain and cryptocurrency projects. Meanwhile, Yantis also works as WAX’s CEO.
The global growth of the digital goods marketplace has experienced enormous challenges for the past decade, but WAX technology has helped in finding solutions that spur the development of the sector. Although some users think that the technology has arrived late when challenges are already overwhelming, it’s actually the perfect time since blockchain has matured enough to satisfy the requirements for the WAX system to succeed.
As the digital goods market continues to expand, it’s essential to acknowledge that tokenized consumer products and virtual items have played an instrumental role in blockchain growth. Virtual items like in video games alone have generated more than USD$140 billion for the market. On the other hand, tokenized consumer products have realized over USD$1.8 trillion.
Considering that WAX attempts to offer remedies for a marketplace with a combined market value of over USD$2 trillion, it’s easy to realize the magnitude of the problem. The first year of incorporating WAX Protocol operations on major players like VGO and dApps has realized over USD$150 million worth of trading volume.
What is WAX?
Wax is a marketplace for digital assets, serving more than 400 million online players that sell, buy, and collect in-game items. Their suite of blockchain-based tools allows people to trade digital or physical items instantly and securely to anyone in the world. WAX’s platform brings together a community of collectors and traders, buyers and sellers, creators and gamers, merchants, creators of dApps and even game developers.
Examples of what WAX can do include buying and selling gift cards to people across the globe, or building your own online store using the B2B tools created by WAX. WAX also allows people to create NFTs and send them to others.
WAX Blockchain
The WAX network works on a consensus model that relies on various WAX Guilds to enhance blockchain production. WAX utilizes Delegated Proof of Stake (DPoS), which depends heavily on WAX Guilds to ensure success in blockchain generation.
The WAX ecosystem has witnessed considerable growth due to the incorporation of the WAX Token Model, which is designed to ensure success in various aspects such as voting, staking, and rewards. The Wax Staking Reward is a feature that has encouraged community participation because it allows users to vote and access rewards.
With WAX tokens, users have immense options to explore. For instance, if staked WAX tokens haven’t been placed, a token holder will require platforms such as Scatter and Lynx to automate the process.
WAX Tokens ($WAXP)
WAX tokens ($WAXP) power the entire WAX ecosystem. They are used to reward participants in the chain and enable contributors to receive ten times the number of tokens purchased. This strategy makes it easier to calculate all microtransactions on the platform.
One benefit of owning WAX tokens is that you get to earn even more tokens by voting for WAX guilds. This is called the WAX staking reward. This process is hassle-free and takes just a minute or two to join. Furthermore, you can unstake your tokens at any time.
WAX and DeFi? WAX’s new tokenomic model explained
In a recent announcement, WAX mentioned they will have a new tokenomic model hoping to capitalise on the rapid growth and popularity of NFTs and decentralised finance (DeFi). Their plan is to link the value generated from creating, selling and trading NFTs to Ethereum. WAX considers it different from other DeFi platforms because they consider these activities to be able to provide a sustainable source of value to stakers.
How the new WAX inter-blockchain tokenomic model would work is that the operational functions of NFTs would still be done on the WAX blockchain, whilst Ethereum will become, “…the capital vault of the WAX NFT empire”. There are 4 components to this new tokenomic model, namely:
WAXP to Ethereum bridge: this new bridge will enable WAXP token holders to convert their tokens into WAXE.
WAXE: WAXE is a new Ethereum ERC20 utility token. Participants of the WAX tokenomics will need to burn their WAXP tokens to get WAXE tokens via the Ethereum bridge. They would then stake the WAXE in the Ethereum Distribution Contract.
WAXG: WAXG is a new Ethereum ERC20 governance token which will be distributed to WAXE stakers based on a set timetable and proportionate to their percentage of the WAX Economic Activity Pool. Token holders will be able to govern the allocation and distribution of economic value on the platform.
WAX Economic Activity Pool: This is a smart contract which will accumulate a percentage of generated WAX fees to be converted to ETH for distribution to WAXE stakers or given to WAXG token holders that decide to burn their tokens.
For full details of WAX’s new tokenomic model, check out their article on Medium.
WAX Guilds and Rewards
A WAX blockchain contains 21 WAX Guilds that qualify to earn a reward. Remember, blocks can only be produced after the chain meets the threshold to earn rewards. The rewards are awarded depending on the number of blocks that every WAX Guild can produce. Standby Guilds are considered as backup operators that help to generate a chain on request.
WAX Performance Metrics
WAX has been configured in such a way that it releases two blocks per second. It’s worth noting that each WAX Guild can only produce one block at a time. If a block fails to come out at a specific time, other blocks will jump the queue to ensure a continuous process.
A block that has been skipped will contend for a space in the memory pool to compete for guilds’ inclusion in the next turn. More than 3000 blockchains are usually transacted each second in the WAX system. The transaction rate is two times swifter than the VISA system can procure in the same period.
The Future of WAX technology
WAX Platform doesn’t only work to offer remedy for the current problems but also offers a roadmap for future operations. WAX Developer Hive is tasked with the duty of technical service provision, tutorials, and other simulations. Besides, WAX developers equally provide vital resources that make implementations successful.
The technology has also incorporated features that will make it convenient to evaluate whether the system passes the transparency test among communities.
Also, there’s room to allow interoperation with other chains to enhance performance. NFTs are among the candidates that need microservices and can thrive with the WAX Platform.
Conclusion
Gamers from across the world can substantially benefit from its secure and decentralized digital items marketplace. As WAX Platform continues to provide more improvements, developers will find several ways to create features that would better serve gamers in terms of digital goods trading.
The platform is also expected to play an instrumental role with digital media and is set to welcome over three billion users in the coming five years.
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.
Poolz.finance ($POOLZ) aims to be the bridge between cryptocurrency projects and early investors.
Poolz.finance has already integrated Ethereum, Polkadot and Tomochain. Projects can simply sign up with a simple Google form on the Poolz official site and they would help launch token sales on the Poolz platform.
In addition to launching token sales, Poolz can also help projects fundraise flexibly by allowing them to specify lock-in periods whereby only after the specified period expires can investors receive tokens for their swapped amount. On the other hand, pools of tokens camn also be created for a project’s token so investors can get immediate access to the project’s tokens.
To catch up with the yield-farming craze, Poolz also provides staking-as-a-service, allowing projects to set up staking for their token. And with that of course also brings concerns for security, which Poolz does recognise and therefore can allow projects to request token audits.
Check out our interview with CEO and Co-founder Guy Oren.
Poolz is also capitalizing on the popularity of Non-Fungible Tokens (NFTs) by allowing cryptocurrency projects to auction their NFTs on the Poolz auction house. Poolz has integrated the ERC-721 standard, which allows developers to code the owners’ identity and address into the NFT- making each token unique and ensuring that each NFT only has one owner.
During this initial phase, projects can sell their NFTs for ETH and DAI. However, it is expected that more payment methods will be accepted in the future, such as the project’s native cryptocurrency or other stablecoins.
$POOLZ token holders get exclusive benefits on Poolz’ NFT auction house such as price benefits and special access to the “last call” feature. Poolz’ “LastCall” feature comes after the conclusion of the “open” auction phase. Once the “open” auction for the NFTs are closed to the public, the “LastCall” phase opens whereby the NFT pool is exclusively open for POOLZ token holders to make their bids- thus increasing their chances of getting a winning bid before the auction finishes.
What is the $POOLZ token and its uses?
$POOLZ is Poolz Finance’s native ERC-20 token. $POOLZ token is mainly used as user incentives, governance, staking, token burns and project development.
Incentives. include exclusive benefits in the NFT auction house and better swap ratios for pools running on their platform.
Governance. The Poolz platform will implement the Proof of Stake (PoS) mechanism. This allows POOLZ holders to have voting rights when they stake their tokens in specific wallets.
Staking. According to the Team, POOLZ token holders can get passive income from staking them in particular ERC-20 wallets. In return, these token holders will get staking rewards.
Token burn. Poolz will use 16.67% of its daily earnings to buy $POOLZ tokens from the market and burn the same, subject to an upper limit of 20% of the POOLZ supply. This keeps the supply of tokens low.
Project development. Poolz has reserve tokens that are allocated for future development such as marketing, exchange fees for listings, and long-term liquidity.
$POOLZ tokenomics
1/3 of the total $POOLZ token supply is locked and will be released over a period of 10 years. The Poolz team believes this model will ensure a low supply and keep prices high, and to show that they intend to stay with this project for the long haul.
The allocation of $POOLZ is as follows:
2.2M POOLZ (44%): Public and private sale
800,000 POOLZ (16%): Staking rewards. This will be circulated in the form of average annual yields to those who stake their tokens in a compatible wallet. 80,000 POOLZ will be released each year for 10 years (i.e. 1,539 tokens per week).
800,000 POOLZ (16%): Swapping rewards. These will be rewarded to liquidity providers on the participating pools on the platform. 80,000 POOLZ will be released each year for 10 years (i.e. 1,539 tokens per week). This may be subject to change via governance decisions.
600,000 POOLZ (12%): Reserve. This will be for future initiatives and to support the community.
375,000 POOLZ (7.5%): Team. For incentivizing the Poolz team and will be distributed over 6 months of equal vesting after a lock-in period of 1 year.
125,000 POOLZ (2.5%): Advisors. Given to advisors as incentives over 1 year of monthly vesting.
100,000 POOLZ (2%): Liquidity fund. This is for providing liquidity on Uniswap and other exchanges.
$POOLZ token sale
Total Supply: 5,000,000 POOLZ
Initial Market Cap: USD $423,500
Fully Diluted Valuation: USD $3.5M
Private and public sale: 2.2M POOLZ (44% of total supply) will be allocated for private and public sales.
Pre Seed: 100,000 POOLZ at USD $0.35: 3 months initial lockup, then 8.33% released monthly.
Strategic Round: 400,000 POOLZ, at USD $0.455: 10% released upon Token Generation Event (TGE), then 9% released monthly over a period of 10 months.
Private Sale 1: 700,000 POOLZ, at USD$0.47775: 20% released upon TGE 20%, then 20% released monthly.
Private Sale 2: 900,000 POOLZ at USD $0.50050: 25% released on TGE, then 25% released monthly.
Auction Pools: 100,000 POOLZ at USD $0.7: no lockup period.
On 15th January 2021, $POOLZ will do a public sale by way of an Initial DEX Offering (IDO) and Uniswap listing.
The IDO will be held on the Poolz platform itself so that after it goes live, you can directly buy $POOLZ from their own platform. Afterwards, $POOLZ will be available on Uniswap. There is no minimum purchase amount for this IDO.
Note the IDO has sold out in 18 seconds
How to buy $POOLZ on Uniswap
The $POOLZ token will be listed on Uniswap from 15th January 2021 onwards, meaning that users will be able to buy $POOLZ on Uniswap. Buying $POOLZ can be done in 4 easy steps:
Step 1:On Uniswap, select which cryptocurrency you want to trade $POOLZ with in the “From” row. Note that Ethereum is set as the default.
Step 2: Set to swap for $POOLZ tokens. In the “To” row, enter the correct Poolz address. Be very sure that the address is correct or else you could risk losing your funds.
Step 3: Enter the amount of $POOLZ token you want to obtain. Once you’ve entered the amount of $POOLZ token you want to buy, double-check the swap details and click “Confirm swap”.
Step 4: Confirm purchase on MetaMask. After confirming on Uniswap, you will be taken to MetaMask to confirm the payment. Click “confirm”. Once the payment is processed you will receive $POOLZ tokens in your MetaMask wallet.
Is Poolz safe?
Poolz Finance engaged Arcadia for an independent security audit of its smart contracts. Poolz reports that Arcadia did not find any issues with their smart contracts.
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.
Exeedme (XED) is a blockchain-powered gaming tournament platform designed to finally give professional gamers the income and recognition they deserve.
There are over 2.5 billion gamers worldwide, making the gaming industry twice the size of the music and movie industries combined.
But while producers and developers in the entertainment industry are able to rake in millions, the same cannot be said for gamers who find it almost impossible to earn a living playing video games.
Although we do have cases of professional gamers generating substantial income through livestreaming, their numbers are considerably low as it requires a very high amount of creativity, skill, and time to build a big-enough audience and thrive. This challenge is what Exeedme is trying to solve.
Background
Francisco Varela and Nuno Fernandes teamed up to come up with this innovative idea of rewarding gamers for their devotion and skills to playing the game they love.
To truly ensure the project caters to the professional gamer, their Head of Engineering- Arlindo Torres, is himself a game analyst and professional CS:GO player. Exeedme also has Ricardo “FOX” Pacheco Miguel, a professional CG:GO player and world champion as their Ambassador
What is Exeedme?
Exeedme is looking to revolutionize the gaming industry by providing Play2Earn platform for gamers, developers, and organizers a place to monetize their skills through blockchain-based gaming tournaments.
The tournament platform is built on Polkadot, a next-generation multi-chain protocol that has grown exponentially in the last few months.
Exeedme chose to build its system on top of Polkadot in order to benefit from its decentralized finance (DeFi) and non-fungible token (NFT) innovations. This would allow it to move fungible and non-fungible assets across multiple chains seamlessly, which could expand its horizons to larger communities.
The Exeedme team recognizes the fact that the current game monetization models leave a lot to be desired since current models favor a few privileged gamers but do not provide an avenue for an average player to earn an income through gaming.
Hence, Exeedme has come to give gamers a place to exercise a real sense of ownership and earn money as they play.
Exeedme Gaming Solutions
The central idea behind Exeedme is to provide a platform where gamers can be able to earn money from doing what they love. The platform seeks to reward gamers of all skill levels without any discrimination, which means you don’t need to become a top professional gamer in order to earn an income.
And in this ecosystem, the biggest winners would be the game developers, as well as players.
Virtual Assets
Many games today have systems where they allow gamers to earn or buy virtual assets. The downside to this is that these assets cannot be monetized or transferred outside of the gaming system.
Exeedme is looking to change all that through its XED native token, plus the use of NFTs. Gamers would be allowed to transfer their game’s “virtual assets” to different game universes, even if they are on different blockchains, which would result in an interoperable digital multiverse.
Since DeFi and NFTs would be pre-built into the gaming platform, peer-to-peer gaming economy platforms could readily grow. These growing economies would be geared towards rewarding gamers instead of the side chain advertising industries.
How Gamers Earn on the Platform
Gamers can earn on the Exeedme platform in 3 ways: winning, participating, and progressing.
To earn through winning, a gamer has to pick his favorite game to play, then stake it via funding with crypto assets. The player then selects his opponent or lets the system match him with similarly skilled players. The gamer could bet on himself to win and if he succeeds, he can take his earnings.
Gamers can also win simply by participating and progressing in any game or tournament they play.
In addition to the 3 methods mentioned above, Exeedme also allows players to earn NFTs when they progress such as trophies, collectibles and in-game assets. These an be used across different games, traded or monetized.
Advantages of Exeedme
Exeedme holds a number of advantages over the old gaming models, some of them are:
Exeedme’s XED tokens are far better than participation trophies that some of the other games reward. Regardless of the outcome of a game, a gamer can be assured of earning a token that can be spent. This is because every time there is a bet on the gamer winning, XED tokens are being mined.
Newly-minted XED and crafted NFTs can also be earned just by progressing in a game’s tournament or winning it. They are also won when a gamer reaches a milestone, completes a new mission, or achieves a higher ranking.
Earned XED and NFT tokens can be traded or monetized, making it a very fun way of earning.
XED Token
Exeedme’s $XED is their native token. Players are rewarded with XED tokens through winning or progressing in a game.
The project has designed its platform in such a way that its governance system is led by gamers who would also be major participants on the blockchain. Accordingly, the best way to help improve the platform and push it into success would be to stake XED tokens.
Gamers who stake the token would enjoy certain privileges like lower fees, a cut of the match fees, access to free and special tournaments, access to exclusive NFT launches, exclusive badges, and other perks.
Exeedme would also be deploying community pools in its bid to fund general improvements to the protocol. Developers can also obtain funding through various methods depending on their project.
45% of the funds raised will help support the product development team;
30% will be for growing the ecosystem;
15% will be for providing liquidity to Uniswap and other exchanges;
5% will be for Legal, Regulatory and Security; and
5% will be for general and administrative expenses.
Exeedme Staking Pool
The gaming platform would deploy community pools to fund general improvements to the protocol. Developers on the protocol would have access to various funding methods which would be determined by their project.
For instance, XED rewards and NFT rewards pools would have access to fees garnered from tournaments. They would also be able to receive mints and melts of NFTs and fungible tokens.
Conclusion
Exeedme is a uniqueue blockchain gaming platform designed in a way to create a playing field for any skill leveled gamera chance to earn from doing what they love. And despite having other gaming-based blockchain protocols in the space, Exeedme is quite unique in its approach.
While the previous gaming models do not give adequate room for gamers to earn from their skill, the innovative platform looks to correct that by providing an ample opportunity for gamers to earn from whatever skill levels they have.
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.
ChainGuardians is powered by the technology that allows digital asset tokenization, creating an ecosystem where blockchain meets play. Here, users can have fun on the platform while earning rewards in the form of cryptocurrency. They can also participate in popular blockchain activities such as mining or staking without much complexity.
Check out our interview with Co-founders Emma Liu and Idon Liu (from 23:00 onwards)
Background
The team behind ChainGuardians built the platform to create an enjoyable and worthwhile blockchain gaming experience for its players. According to the team, the majority of the gaming content is still currently only accessible on web browsers but they are planning to create an independent gaming platform for it.
What is ChainGuardians?
ChainGuardians is a cryptocurrency-meets-anime-themed blockchain collectible game powered by non-fungible tokens (NFT). The game is available both on mobile and web platforms, making it very accessible to its users. It is also built on top of Ethereum while its in-game assets are based on the ERC-721 standard.
The goal of ChainGuardians is to introduce a gaming element in the blockchain ecosystem, implementing chain analysis technology and advanced game economics to govern the platform’s mechanics.
All in-game assets are considered crypto-collectible NFTs. These are, for example, weapons, armors, and even the in-game characters i.e. Guardians. The purpose of having them tokenized is to make sure that they are unique and safe against counterfeiting.
All the collectibles, as well, are of limited quantity. They can also be either bought or sold on secondary NFT marketplaces.
While there are a lot of blockchain-based games today, according to the team behind ChainGuardians, their difference is that their governance is more community-based. There are other steps that the team said they were doing differently against others, which are:
The constant development of end-game content and platform playability;
Introduction of multiple game modes, including player-versus-player modes;
Rebalancing of Guardians, lower ranking characters, items, and game economy, as they are needed;
The constant development of the battle meta;
Introduction of ‘Bring Your Own NFT,’ where users can integrate their own NFTs on the platform;
Loyalty reward system;
Bot prevention system; and
Commencement of events and competitions to encourage player activity.
The platform offers a free-to-play NFT mining game and a role-playing game (RPG). Players can earn rewards for participating in either of the two.
For the game’s newcomers who just want to try out the game modes first, the platform offers a guardian simulation mode. For this mode, users will not need to own any crypto-collectible, or NFTs. This means, however, that their progress will not be factored in the actual game economy. They will also not be entitled to rewards in the simulation mode as well.
Crypto Boost is another feature made available on the platform. This gives existing cryptocurrency holders additional incentives in playing the game. To ensure that the accounts are in good crypto standing, their transaction history and holdings will be evaluated through Chain Analysis.
NFT Mining Game
Players can choose to participate in the game’s ecosystem by staking NFTs partnered by ChainGuardians. The process here is really simple. Users can either purchase their own NFT for staking or select from its supported projects called the “CryptoVerse Alliance.”
After a player has chosen an NFT to mine, they can start mining. Rewards for mining NFTs are ChainGuardians Credits (CGC). These can be used to make in-game purchases on ChainGuardians RPG or for conversion to the ChainGuardians Governance (CGG) token (more on this later). Furthermore, this is free-to-play.
ChainGuardians RPG
Playing the RPG is another option for users to earn rewards from the platform. Basic game achievements, such as the increase in your character’s level or winning against other in-game enemies, can give the player CGC rewards.
The goal of the players here is to work together to take down in-game enemies such as GateKeepers. This will help their characters gain power, credits, armaments, and other tools that they’ll need to progress in the game.
The game is also a turn-based battle game, but when a player is not active, the platform allows AI-based battles that factor in the attribute of a player’s character.
CGC rewards can be redeemed for CGG tokens or other available services on the platform.
There is a daily schedule for the redemption of CGG and it factors in the activity of the player on the platform. The RPG is also free-to-play.
How to play and earn on the ChainGuardians ecosystem (Image credit: ChainGuardians)
CGG Token
CGG is ChainGuardians’ Governance token. It is an ERC-20 token that represents a user’s stake in the platform. CGG holders can take part in important protocol decisions as well as earn rewards for continuously participating in the ecosystem.
There are many ways to earn an income from using CGG. Here are some ways:
Liquidity Provider Token
The platform has a liquidity pool backed by the POWER token. This is the ecosystem’s liquidity provider token. Users who stake CGG in the platform’s liquidity pool are entitled to POWER rewards which they can redeem later on. The pool supports the CGG and ETH trading pair of the platform.
In addition, users can choose to just provide CGG pairs on the platform’s liquidity pool. They can also earn POWER in doing so.
NFT Staking
CGG holders can stake their tokens on the platform’s supported NFTs. This way, they can potentially earn more NFTs and partner tokens as their reward.
Governance
The platform’s governance is community-based, which means that CGG holders are the ones voting on the ecosystem’s mechanics and protocols. Some of these decisions cover the following:
Future in-game characters and their abilities;
Game economics and balancing schemes;
APY for stakers and the supported NFTs; and,
Hash rates for NFT miners.
Conclusion
The game is indeed an interesting use case for blockchain technology. Apart from the introduction of NFTs, it also features a liquidity mining and staking option that many cryptocurrency holders find easy to work with.
The project has done good work in integrating advanced blockchain concepts into a more gamified experience for users.
With the successful application of most blockchain technologies such as governance tokens, NFTs, mining, perhaps the next step for ChainGuardians is to make a scalable platform should more players join. All in all, the project is a promising display of the blockchain’s capacity while easing them towards the basic concepts that back most projects in DeFi.
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.
SuperFarm ($SUPER) is a cross-chain DeFi platform aimed at easing the process of creating non-fungible tokens (NFT) while giving them the capacity to add value to their tokens. It has its own NFT marketplace which creators could benefit from. The protocol is designed to make the user’s whole blockchain journey easier. Finally, SuperFarm is a continuously growing project that could attract more partnerships from several gaming platforms.
Background
Elliot Wainman, the creator of EllioTrades and co-founder of Dapp Evolution Games, began his work on SuperFarm with the objective of mass adoption for the Ethereum network. Elliot’s target is to reach over 2.5 billion gamers worldwide who are looking to purchase in-game assets through NFTs.
SuperFarm’s first fundraising round amounted to a total of $1.1 million, where prominent cryptocurrency and financial firms like Bitcoin.com, GBV Capital, Solidity Ventures, and Spark Digital Capital, and many others participated.
Before we dive deeper into what SuperFarm does, it is important to understand what NFTs are.
What are NFTs?
Non-Fungible Tokens (NFT) refer to digital assets that represent almost anything, from works of art or a person’s identity. NFTs cannot be duplicated and they all have distinct metadata.
They are commonly used to create a blockchain representation of a real world asset so that they can be traded with crypto. Since NFTs are programmable, they can be attached with different characteristics and attributes according to the needs of the creator.
SuperFarm is a cross-chain DeFi platform for NFT farming without any code required, with the primary aim is of making it easier for anyone to create their own tokens and add value to them through NFT farming. And because it does not have any coding requirement on the part of the business, using the platform lessens the technical complexity of coming up with their own NFT.
The way SuperFarm abstracts the process of tokenization is through a series of visual, beginner-friendly tools. They can customize the rules for their tokens, identify their attributes, incentivize a behavior, and more. The SuperFarm platform is easy to use but it does not compromise quality and effectiveness.
The tokens that can be generated on the platform are ERC20 compliant. They can sell them to any supported marketplace. In fact, users can even set-up their own NFT marketplace through the platform if they want to.
NFT Farming
Through the platform, businesses can easily create their own farms and put up their NFTs there. Users can access them to stake on NFTs and earn incentives. There is a minimum requirement of SUPER tokens, however, before anyone is allowed to open up new farms.
NFT Marketplace
Users are given access to the NFT store where they can purchase NFTs through the reward points they are given from farming. It also allows users to buy NFTs with supported cryptocurrencies.
Superverse
Superverse is the gaming interface for SuperFarm. It is an NFT-based card game that functions on an autobattler setup. Aside from game points, some of the rewards that are available in Superverse include NFT drops from SuperFarm-partnered gaming platforms.
There is a minimum requirement for SUPER holdings before a user is given access to the Superverse.
$SUPER token is SuperFarm’s native utility token. It can be used as a medium of exchange or to pay for governance and transaction fees. SUPER also gives its holders access to products and programs available in SuperFarm’s gaming ecosystem, video game partners, and NFT drops.
Since the platform seeks to be fully-decentralized in the future, its governance is community-directed. Any decision or proposal to amend or modify the platform has to go through the vote of SUPER holders. Voting power can be determined by the amount of the SUPER tokens you hold. The more you hold in SUPER, the stronger your voting power will be.
Other purchases you can make in the platform also involves SUPER. It can be used to access some important features of the platform which are only available to holders of SUPER.
If you want to purchase SUPER, the token is listed on Uniswap. Below are some of the use cases for SUPER.
SUPER can also be staked. Users just have to lock their SUPER in a smart contract so they can earn token rewards for doing so. This reward structure comes from the collection of platform fees which are made in SUPER as well.
Farming
SUPER can be staked for NFT rewards too. By participating in the staking for NFTs, users can also receive exclusive NFT rewards from partner farms.
Users can also set up their own farms on the platform. However, there is a minimum requirement of 100,000 SUPER tokens in order to do so. The purpose of the quota is to make sure that there is a low likelihood for spams, good quality of farms, and to incentivize the purchase of the token.
NFT Drops
SUPER holders are also entitled to NFT drop rewards. These are the NFTs available in the Superverse and partnered video games. However, to be a part of the NFT drops, users should be holding the minimum SUPER tokens required.
SuperFarm is an interesting DeFi project. One of the platform’s strengths is that it has already identified who its target market is. If the project takes off successfully and gets more gamers and developers on-board, it is highly likely that it will drive people’s interest in crypto and DeFi significantly. Imagine 2.5 billion gamers jumping onto the crypto train; it will be a huge feat.
Moreover, SuperFarm is a project that businesses can easily benefit from. If they want to create their own NFTs and market them, SuperFarm’s interface has prepared the platform for them as well. If the project achieves its objectives, it offers a promising outlook for the whole of DeFi. Looking at where it stands today, it is not impossible. The platform is easy-to-use and profitable. It belongs to the DeFi projects we have to look out for.
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
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.
One of the benefits of BSC is that the Ethereum blockchain has been plagued lately by exorbitantly high fees and delayed transaction processing times. This has resulted in retail or average users getting priced out and unable to participate in decentralised finance (DeFi) or NFT activities. For some investors, it’s simply too much to pay $15-30 per transfer and $50-100 per Uniswap asset conversion.
Therefore, BSC has risen up to the occasion to alleviate some of these problems by cloning and porting Ethereum’s most used DApps over to its blockchain. Thereby offering an attractive alternative with its low fees and near-instant transaction processing time.
Background
Binance Smart Chain (BSC), the blockchain Bakerswap runs on, is a project from Binance – the largest cryptocurrency exchange in the world by traffic volume and traded amount. It is an Ethereum fork with a Proof of Staked Authority (PoSA) consensus mechanism and the ability to integrate with the Ethereum Virtual Machine (EVM). There are 21 validators staking large amounts of BNB, who process activity.
The identity of these validators isn’t known but is largely believed to be Binance permissioned actors. These validators need permission from the Binance network to run the validator node. Furthermore, the BNB token holdings are greatly controlled by the Binance team or founders. It’s a permissioned network.
But, it does have its benefits. It ensures high throughput transaction processing and low fees for the users. It’s an experience for the users, who otherwise won’t be able to experience DeFi and NFTs. Binance further returns some part of the transaction fees to the developers to give them the incentive to develop on the BSC network.
BakerySwap
BakerySwap is a Uniswap clone that allows for orderbook-less automated market maker (AMM) services and NFT trading. It runs exclusively on the Binance Smart Chain (BSC). It’s marketed by Binance as having “cheaper fees and faster confirmation time than Ethereum”. Also included are the functionalities for staking with users providing liquidity and earning new tokens, combination NFTs and pets feature.
In the place of orderbooks, liquidity pools are used to conduct swaps. In a similar manner to Uniswap, the participants receive Liquidity Pool (LP) tokens and can redeem them for assets supplied and fees earned when liquidating them. That’s according to their share in the pool gathered from the assets. Recently, an Initial DEX Offering (IDO) has also been introduced which allows projects to raise capital.
BakerySwap Fees
BakerySwap has a 0.30% fee for every activity on the platform, 0.25% goes to the liquidity providers and the remaining 0.05% will be used to buyback BAKE from the market and distributed to BAKE holders.
How To Access BakerySwap Through MetaMask
It’s pretty simple to access BakerySwap through Web3 wallets like MetaMask. Simple click the MetaMask button and open the dialog box and it will show Ethereum mainnet by default.
Connecting to BakerySwap
Then, enter the following information in a case-sensitive manner.
Click Save and then switch to Binance Smart Chain. Now you can access BakerySwap. To transact on the BSC network, you need to have Binance Coin (BNB) on your wallet, so buy and withdraw them to your MetaMask as BEP20 standard tokens.
BakeryToken ($BAKE)
The native token of Bakeryswap is called BakeryToken or BAKE, which is earned by providing liquidity to asset pairs and staking liquidity pool tokens or by staking BAKE itself. Since this is a food-themed clone, it’s possible to deposit the liquidity pool tokens into different pools of Doughnut, Waffle, Rolls, Croissant, Latte, etc. with different ROIs.
There was no pre-mine and/or presale of BAKE tokens. The tokens reserved for the team are only 1% because of their belief in a fair distribution model. Its distribution is skewed in favor of people staking tokens and the total supply is 731,745,000 BAKE. The tokens will be gradually released with the community’s consultation and advice.
NFTs
On the Binance Smart Chain, BakerySwap is the first AMM plus NFT project. The native BAKE token can be used to create a “food meal” – a fancy term for a NFT, which can be used to farm BAKE again.
Every food meal has a different staking multiplier and earns proportional rewards. Plus, it can be traded for other NFTs and burned to yield BAKE.
The platform also has an NFT Supermarket which allows artists to turn their artworks into NFTs through the minting process and to sell them. Users can buy artwork at the Supermarket using BAKE tokens.
Despite having an interesting overlap of two emerging fields in blockchain tech, the innovation doesn’t seem to slow down at BakerySwap. As such, the team has announced that they would introduce the stake to farm NFT functions like MEME. A novel bidding and auctions system would also be developed.
In DeFi and NFTs, gamification is key to engage users and keep them involved. BakerySwap will create raffles and rewards for completing BAKE tasks. AMM/NFT data analytics and token price charts are also under development. At some point in the future, margin trading and derivatives would also be deployed on BSC.
BakerySwap Ethereum 2.0
Like any emerging unconventional DeFi protocol, BakerySwap has had its fair share with procuring and managing liquidity for the yet-to-be-launched Ethereum 2.0. It has been reported to be working to integrate Ankr staking services aETH – a synthetic asset representing deposited Ether tokens, which will be used to create new farming pools.
BakerySwap has also launched its own Eth2 BETH token, in partnership with Binance.
Conclusion
BakerySwap marks the introduction of an interesting experiment and an attempt to include users, which have been left out because of the high fees on the Ethereum network. At a fraction of cost and rapid transaction processing, retail users can try out the asset swap and NFT minting functions without clearing out their wallets for fees.
The project takes Uniswap one step further, adding elements of NFT and gamification. Plus the tokenomics ensure value accrual and incentives for users to continue holding the token. The trajectory of BakerySwap doesn’t appear to be descending and notable features are waiting to be implemented in the coming days.
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.
The internet improved how we communicate, share files, and stay connected. Unfortunately, it also made it hard to preserve content copyright. Rules and regulations haven’t done much to solve the problem.
As such, digital content creators have to choose between safeguarding copyright or reaching their audience. Mostly, they don’t receive the exact incentives. Luckily, Bitcoin brought blockchain technology, opening a new world of possibilities. For instance, it powers decentralized finance (DeFi) and non-fungible tokens (NFTs).
Notably, NFTs have unique signatures that allow them to move from one user to another without affecting their authenticity. Interestingly, their ownership is automatically changed during a purchase. SOTA Finance brings the new world to reality by connecting NFT creators and collectors by allowing limited digital content creations to be easily created and transacted using blockchain technology.
Table of Contents
Background
Dung Nguyen and Tommy Le are the Co-founders of SOTA Finance. Nguyen has rich experience in blockchain research, business management, and economics.
On the other hand, Le’s strengths are IT consulting, blockchain development, and general software development. Its CEO, Thao Nguyen, has a strong background in financial technology, focusing on risk management, investment, and asset modeling. The CTO, Thi Truong, also has technical expertise in blockchain technology.
What is SOTA Finance?
SOTA finance is a decentralized platform that brings together NFT creators and collectors. In other words, it facilitates NFT creation, selling, and buying. Additionally, it has a governance token that allows users to have a say in how the platform is run. Notably, this is among the few firsts in NFT marketplaces.
Note that SOTA is an inter-blockchain platform allowing NFT creation on Binance Chain, Ethereum, and TomoChain.
SOTA Finance allows the creation and sale of non-fungible tokens, and buyers can choose to trade on the network or external/secondary markets such as OpenSea.
How SOTA Finance Works
User Login
The first step to start using the multi-chain NFT platform is through logging in. Users can either use a valid email-password combination or Google ID or Facebook ID. Upon creating an account, the platform assigns each user a wallet where it deducts gas fees to pay for user-ignited activities.
NFT Creation
SOTA is open to everyone thirsty to develop an NFT using original virtual content. Initially, creators define key metrics such as how many NFTs will exist and the expected royalties when their creations are sold on secondary markets.
At present, SOTA caps the royalties at 10 percent. Note that royalties are calculated as a percentage of the profits from sales. Notably, the deductions are credited directly to the creators.
Creators can sell their works on SOTA by listing their prices in Tether (USDT). Note that the protocol charges a 15 percent creation fee during the first sale.
The platform runs verified accounts that recognize creators as the original owners. However, creators have to explicitly apply for this type of account. (chacc.co.uk) Whether or not SOTA administrators grant their request depends on a creator’s profile on the network.
In case of a copyright violation, users can use the inbuilt “report” feature to bring it to the attention of the platform’s admins.
NFT Collection
After creating, it’s time for collecting. SOTA Finance users can freely trade non-fungible tokens directly on the platform. Notably, buying and selling attract a flat fee of 2.5 percent.
Observe that although NFT prices are set in USDT, users can still use other cryptocurrencies such as Ethereum (ETH) and Bitcoin (BTC) to make a purchase. However, to do this, the platform converts the users’ coins to USDT using prevailing market prices at the time of the conversion. An example of exchanges providing updated prices includes Uniswap.
NFT Farming
In the wake of DeFi, yield farming takes center stage. SOTA Finance isn’t blind to the phenomenon and enables users to stake the network’s base currency, SOTA, to earn rewards.
Staking the native coin earns stakers Pumpkin points. Apart from users, creators can join hands and provide NFTs for farming purposes. In such a scenario, the number of NFTs dedicated to staking is set during creation. Additionally, creators set how many Pumpkin points are needed to lay your hands on the rare gem.
However, unlike other NFTs on the marketplace, a farmed NFT earns the creator half of its price as the royalty fee.
SOTA token
SOTA is the base asset of the SOTA Finance ecosystem. The token has a fixed supply of one hundred million coins. Out of the total, 40% goes to token sale/swap.
In addition, the founding team takes 15 percent, and 4 percent drives the bounty program. Additionally, there is a six percent allocation to rewards to NFT farming, and ten percent goes to incentivizing participants for 36 months.
Notably, the smart contract powering the SOTA token has a 99 percent success score from CERTIK, a reputable security company focusing on blockchain-based applications.
In its qualifying statement, CERTIK noted that it “believes this smart contract passes security qualifications to be listed on digital asset exchanges.”
Apart from the token contract, the security company interrogated the SOTA Finance source code giving it a score of 100 percent for key technical areas such as integer overflow/underflow, function incorrectness, buffer overflow, reentrancy, transaction order dependence, among other areas that can weaken the platform’s security.
Benefits of holding SOTA tokens
SOTA is a governance token for the SOTA Finance platform, meaning they can vote on decisions relating to how the platform is run. The act of voting itself also generates rewards.
Other benefits for token holders include staking benefits. SOTA tokens cam be staked in return for pumpkins. Currently the staking rate is 100 SOTA staked yields 1 pumpkin every 1 day. Pumpkins are a form of “payment” for redeeming NFTs on their “Farm NFT” page.
SOTA Finance artworks (Image credit: SOTA finance)
How Does SOTA Cater to Mobile Users?
Life is mobile, and so is SOTA Finance. The platform’s developers are committed to enabling access through mobile devices. The application allows for NFT creation, sale, and buying.
Non-crypto Users
The platform isn’t made for only crypto holders. As such, the team is working on interfacing the project with popular conventional payment methods like PayPal and credit card platforms such as MasterCard and Visa.
Conclusion
Armed with a governance token, SOTA Finance brings a new dimension to the NFT marketplace. Moreover, the platform is among a few in its class to natively support NFT staking.
Notably, all critical areas are audited by a leading blockchain security firm. This improves user confidence, hence, promotes a better adoption rate. Another key feature on the network is its resolve to bring non-cryptocurrency users on board by adding traditional payment methods. On the other hand, its mobile application allows users to stay in touch when on the go.
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.
Ethernity Chain is a blockchain-based platform that deals with limited authenticated NFTs from top artists and with endorsements from popular figures in the sporting and entertainment scene.
Although Bitcoin concentrated on hedging away from government-issued currencies, its blockchain technology opened a much bigger world of possibilities. For example, Ethereum tapped into the technology to build a decentralized computer and power decentralized applications (Dapps). Next came decentralized finance (DeFi). Non-fungible tokens (NFTs) then followed suit.
However, most NFT projects concentrate on the broad digital artwork space. Consequently, they fail to address specific problems in any of the artwork subsections. This leaves room for platforms such as Ethernity Chain to take over. Below is a detailed overview of the platform and what it brings to the NFT ecosystem.
Table of Contents
Background
Ethernity Chain is a community-focused project that banks on artworks from top artists and stars. The project’s team is led by Nick Rose Ntertsas, the platform’s founder and chief executive officer.
What is Ethernity Chain?
Ethernity Chain deals with limited authenticated NFTs from top artists and with endorsements from popular figures in the sporting and entertainment scene.
Its vision is to raise funds for charitable causes while at the same time keeping NFT creators motivated. The charity offerings ride on the project’s for-profit status that allows it to design services for more users compared to non-profit themed networks.
Apart from charity, Ethernity Chain provides a crucial connection between non-fungible tokens and the wider DeFi industry. Consequently, it enables increased access to rare and collectible virtual artworks designed by reputable artists and features respected public figures. Notably, featured celebrities must approve the NFTs using a digital signature, known as aNFTs.
What are aNFTs?
aNFTs are authenticated non-fungible tokens- a unique creation of Ethernity Chain. These aNFTs are authenticated by the creator so that purchasers or traders know it is officially endorsed by them.
Users can buy these aNFTs using Ethernity Chain’s native token, known as ERN. ERN can be purchased on the market or earned when users LP stake and earn ERN and use these rewards to purchase aNFTs.
“Welcome to the internet” limited edition aNFTs for sale on Ethernity Chain (Image credit: Ethernity Chain)
Pelé charity aNFT collection
Ethernity Chain has recently released the officially licensed collection from renowned football legend Pelé. The collection will comprise authenticated non-fungible tokens (aNFTs), of which 3-6 pieces will drop on the Ethernity Chain platform on 2 May 2021.
90% of the proceeds from the sale will go towards the Pelé Foundation, a charity that empowers and educates children battling poverty around the world.
Major Ethereum Chain Products
Ethernity Packs
Here, NFTs have a community focus and employ a lottery model. Notably, these packs have a minimum and maximum price of $50 and $300, depending on rarity. The Ethernity Chain team curates all the collectibles in this category.
To awaken collectors’ taste buds, the team hides rare NFTs inside random packs, and collectors won’t know what’s inside before purchase. Also, the packs are available at different times on the network. Interacting with this product requires the platform’s native asset, ERN. Note that Ethernity Packs have a connection to STONES.
STONES
STONES is a product earned through staking the native token. In other words, it’s a farm-only offering. The farming process involves interfacing your MetaMask wallet with Ethernity Chain using the Ethernity.io platform.
Note that one ERN coin gives its holder 1000 STONES when locked in the farming contract for one day. Unfortunately, STONES are indivisible. As such, if you unlock your ERN tokens before the completion of the staking cycle, you end up with no rewards.
Additionally, STONES cannot be transferred from the farming contract, have no monetary bearing, and can’t be swapped with ERN or Ethereum (ETH). This leaves them exclusively for exchanging with a select number of NFTs on the protocol.
March 24, 2021, marks the first STONES farming spree, with the second slated for the end of April the same year.
Ethernity Chain ($ERN) Staking and Rewards
Ethernity Chain runs a staking program for liquidity providers. However, the rewards go to those who choose to interact with the ERN/ETH pair on Uniswap. Staking has a lockup period of 30 days, after which the pool is restarted. The annual percentage yield (APY) for staking fluctuates between 100 and 300% and has a monthly payment plan.
How the ERN staking process works
First, deposit tokens in Uniswap’s V2 ERN/ETH pair.
In return, the decentralized exchange (DEX) issues LP tokens equivalent to your stake in the pool.
Next, access the staking option on Ethernity and connect your wallet address that holds the assigned LP tokens. Then, approve and lock the tokens into the staking contract known as the Liquidity Reward Program.
Note that Ethernity Chain ties the unstaking event with claiming ERN. As such, unstaking automatically claims the native asset.
Staking rewards are calculated by dividing the amount of LP tokens a staker has in the contract with the total amount of LP tokens padlocked in the staking contract.
Ethernity Chain ($ERN) Tokenomics
The total ERN supply is 30 million tokens. Token distribution includes to team/advisors (20%), partnerships (8%), expansion (6%), staking/rewards (12%), and reserves (15%). Also, there’s a 30.6% allocation to private price sale, 3.33% to a public initial digital offering (IDO), and 5% to liquidity.
However, some of the allocations have different freeze and unlock times. For example, the private sale has a two-month vesting period, while distribution to partnerships has 14 months vesting time.
Ethernity Chain Strategic Partnerships and Investments
Ethernity has its eyes set on interacting with the larger cryptocurrency industry. As such, it has inked notable partnerships with major firms building different products. For example, the protocol partnered with Kenetic, a reputable global blockchain-focused firm working to drive the adoption of decentralized protocols by offering investments, technology, tech, and advisory services. Kenetic’s managing partner, Jehan Chu, believes “NFTs are the true missing link between online and offline objects.”
They have also partnered with Chainlink by integrating Chainlink’s oracle solution to secure the minting and pricing of aNFTs.
Another notable partnership is with Terra Virtua, an inter-blockchain NFT protocol. Terra Virtua, through its Terra Virtua Kolect platform, provides a tailor-made marketplace for NFT collectors and creators on the web, mobile, and PC environments.
Conclusion
With a growing NFT ecosystem, Ethernity Chain provides a specific solution to the sector. For example, its focus on authenticated digital artworks gives collectors assurance of rarity, among other things.
Notably, the works are authenticated by globally renowned individuals such as Tony Hawk, a skateboarding legend, and Fernando Tatis Jr., a high-profile baseball player. Also, partnering with major firms like Terra Virtua and Kenetic boosts its vision in the future of the non-fungible industry. (https://www.smallhandsbigart.com/)
Also, other hidden gems inside Ethernity Chain Packs keep the collector’s hope alive. STONES add fun to the NFT farming while staking allows liquidity providers to earn rewards.
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.
Privi Protocol is the new metaverse for content creators. It is a blockchain-based complete ecosystem that brings together decentralized social and finance to benefit the creator economy as a whole. A few features of the Privi metaverse are:
In simple words, Privi is a crypto ecosystem built especially keeping in mind the creator community.
The creator community is the backbone of any social media (Instagram, Facebook, YouTube). However, while they slack, their creations help others to fill their pockets.
And, it’s not just filling their pockets, these hugely popular platforms take full control of the creations as well. For instance, YouTube recently updated its policy to place ads in between videos. This is done without the consent of the creators and 100% of the profit made from these ads goes to YouTube.
Privi, as a decentralized blockchain system doesn’t allow this. Your content will work for you and not some middlemen. You will have full rights and control over what you create.
Indeed, with Privi, creators will have more control over their creations and can also make money from all the hard work they put in to create content.
Privi decentralizes social and finances by riding on blockchain technology. And, by pairing this decentralized social and finance together, Privi gives back control of content to its creators, while also benefitting them and their followers financially, which should be the case anyway.
Creators can create their own social communities where they will not only be able to directly connect with their fans and followers, without any middlemen milking them, they will also be able to mint their NFTs and social tokens.
How Does Privi Work?
To understand how Privi works, take this example:
Suppose you are a content creator and you build your own community of followers on Privi. Your followers would all hold a social token that is unique to you to get entry into your community. This way they have direct access to your creations and you can directly interact with them.
Now, suppose you release new content. Only the followers who hold a certain number of your unique social tokens can access the video. If the video does well, it is not just you who gains but also the followers who have access to the video.
It directly benefits the creator community because they have full control over their creations and also benefit directly from them. The followers benefit as well because they too have direct access to the creations without any disruptions or interferences.
How can content creators benefit from Privi? You can build your own customizable DAO community networks on Privi, and you can monetize your content creation efforts with the help of tools like DeFi, social tokens, and NFTs. Apart from these financially profitable tools, Privi also offers a 3D immersive experience, DAOs, and more in its metaverse.
You already know what social tokens are and how they profit content creators as well as their followers in the blockchain universe. Now let us find out what the other tools are that can profit you as a content creator on Privi.
How does Privi use NFTs?
Suppose you have an idea for a new content for which you need funding. You can create digital NFT pods on Privi and invite investors. All your work will be recorded on the NFT pod, which will increase in value. It benefits both the content creator and their community of followers.
For example, suppose you are a singer song-writer. You need funding for your next venture. So, you go ahead and create a digital NFT pod for the same with the contract that the investors will have unique access to the songs you create. The followers who purchase the token for the NFT pod are the owners and they can hold the digital pod for returns or trade them. You get your funding and the owners of the NFT tokens get returns too. A win-win situation for both creators and their followers.
How can you utilize DeFi for monetizing your content?
Suppose you are a new content creator on Privi who doesn’t have enough followers yet to fund your content with social tokens and NFT. What you can do is create a smart contract with the help of a DeFi tool to help fund your content initiatives. The investors who accept the contract will receive returns that are promised in the contract. This transparency and lack of middlemen interference are what makes DeFi such a lucrative way of financing content creation on Privi.
Privi – Safeguard Your Content
There is more to Privi than what is given here. The above-mentioned points are just an overview of how Privi can revolutionize the content creator’s community and give back control of their creations to them.
Privi supports cross-chain communication and the future plan is to integrate many more blockchains.
Privi is already integrated with ethereum blockchain, which allows instant exchange of internal and popular tokens through atomic swap. It also plans to be secured under the shared security model and become a para chain on the relay chain of Polkadot. The platform also aims to connect with bitcoin to allow easy BTC transactions in and out of the Privi network.
What are Privi Tokens?
Privi tokens are your tickets for entering the Privi metaverse and start joining communities, creating content, and monetize your efforts.
The Privi token utilities are as follows:
Covers transaction fees of free to 4%
Are stakes for consuming content and also for earning interest
Dictates priority for verifying profiles, pods, and communities
When staked, accompanies voting rights within the decentralized network
However, this is not all, there is more on the way. Privi aims to launch the following soon:
The Privi Data Coin (pDATA) – It is a data asset class that are exclusive to advertisers on the network. They can not only buy and sell these tokens but also transfer to other users for conversions and impressions. You can think of it as a ‘funnelling’ system that will help content creators on the platform to grab eyeballs, attract more conversions and clicks, and in turn they themselves will receive pDATA in their wallets.
Insurance – As a content creator you can choose to also insure your creations on the platform. There will be decentralized insurance pools with both anonymous and known underwriters. The insurance pool will come complete with a native Privi Insurance Coin (pINS) and a digital claims court.
The Privi tokens are up for presales too, if you are interested. The public launchpad according to the release and vesting plan from TGE is unlocked and the presale and public sale allocation is 32%, the valuation of which is $300,000.
Conclusion
If you are a content creator tired of fighting the industry leading middlemen who ride on your hard-work to make millions, Privi is your best bet to take the control back. Blockchain is the future and Privi exclusively utilizes the technology to enhance the creator community. Now content creators can connect directly with followers and make money that profits them and their followers most.
Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.
