Betting is very famous, not only among crypto traders. Imagine a dApp where you can place a bet on the outcome on any possible event, without needing the permission of a third party to do so, while at the same time controlling your funds. Such a place exists, and the Ethereum blockchain enables it. Even though it’s not allowing you to place bets in a conventional sense, it is very similar and offers an excellent opportunity to make profits.
What is PlotX?
PlotX is a decentralized prediction marketplace that is focused on native crypto markets. It is controlled and driven by the community. The basic idea is to profit from the crowd’s wisdom, meaning that larger groups of people are smarter than single experts. PlotX is a protocol that allows its users to benefit from being right with their own predictions. Those predictions can be as simple as predicting if Bitcoin’s price will be higher or lower by tomorrow. While many markets involve some sort of subjectivity, PlotX is focussing on mathematical settlements. Meaning that the results are undisputable since the available markets are mathematically determined. Because of the fact that these prediction markets are very similar to futures, it is also possible to leverage one’s prediction. PlotX offers up to 5x leverage to traders. Such a high leveraged bet would require to place 100% of the staked assets. While a standard 1x leveraged prediction only requires 20%. Let’s say the trader is wrong, and the Bitcoin price is lower by tomorrow. In the case of a 5x leveraged prediction, he would lose all of his assets, but if he wins, then he gets five times more.
The PLOT Token
The native token of the Plotx protocol is called PLOT. If a marketplace is opened with PlotX it requires that a fee is either paid in ETH or PLOT. PLOT is also used in PlotX own governance and liquidity mining programs, which will reward both participants with the PLOT token. Among the variety of options to use PLOT there is also a referral program. Referring new users will be rewarded with bPLOT which is 1:1 with PLOT, but can only be used to place bets on PlotX. PLOT itself will also be stackable to enable users to earn more rewards.
Solid scaling Solutions
The Ethereum blockchain offers a truly decentralized network with great security. However, a prediction market is highly dependent on execution speed. With the rising demand for DeFi and other dApps, speed and fees are getting more problematic. While waiting for Ethereum 2.0 to solve those issues, PlotX is partnering with other projects to remain solid during this transition and beyond. Matic Network is PlotX choice as a second layer solution and will provide the necessary expertise and reliability to speed up the prediction market.
Injective Protocol gives traders unparalleled access to new decentralized derivatives markets without any restrictions, gas fees, or limitations.
With their security, speed, efficiency, blockchain systems are hailed as the herald of a new dawn in human civilization. The technology is undoubtedly efficient. The way it is automated also brings financial and economic play never thought possible. No middleman, no commission agent – systems built on blockchain technology offer advantages legacy systems can never compete with.
However, one issue is plaguing the technology: scalability. Blockchain is fast, no doubt. Yet, as more and more users join a network, the load leads to delays in confirming transactions. With a limited number of TPS, blockchain fails in this aspect.
Decentralized finance, or DeFi, is the fastest growing sector in the blockchain industry. The ability to conduct financial transactions online without worrying about trust issues, high commission charges, and reliability has propelled DeFi to the forefront.
With nearly $10.8 billion locked in DeFi systems globally, the adoption is seriously hampered by the scalability issues.
Injective Protocol: Layer 2 Solution
Building a layer on top of an existing blockchain system is called layering. These can work in conjunction with the main-net, yet be independent at the same time. It allows for several new ecosystems to be built that work on their own speed. It does not bog down the main blockchain, only communicating with the parent chain when necessary.
Injective Protocol is a layer two solution for DeFi that intends to bring the technology to a level where the extreme customization and speed can be delivered together. Today, many platforms claim to be fully decentralized, but the fact is that they are not. At one point or another, they need to centralize their systems, by it, the internal infrastructure, order books (in case of an exchange), geographical restrictions, etc.
The most quoted reason is that a full decentralization sacrifice on the speed and user experience. Injective is a layer two solution that says otherwise.
Injective Protocol Features
Injective has four main features that it intends to bring to the world. Each is designed to be fully decentralized and without any human interference:
Injective Chain: Built using the layer 2 Cosmos method, the Injective chain is the first fully trustless protocol. This allows for building a pure DeFi infrastructure that does not require any authority to monitor order execution or else.
Injective Exchange: A real DEX, the Injective Exchange, is an entirely open-source platform. It uses layer two to bring in the speed of order matching and execution that plagues other DEX. No geographical limitations and the lowest entry barriers are vital aspects.
Injective Futures Protocol: Peer to peer, the Futures Protocol will run perpetual and futures Contracts for Difference that are customizable, giving anyone a chance to create and trade derivatives.
Injective Governance: Taking decentralization to the extreme, the whole Injective ecosystem will be governed by the community. Anyone who holds Injective tokens can have a voice in the decision-making process of the platform.
Injective Protocol intends to deliver a fast and reliable layer two solutions and the DeFi market and create a system that is truly owned by the public. Not a service, but a public utility, the unique nature of Injective allows individuals to create their own derivative and trade markets.
Binance Labs, Elrond Network, and Pantera Capital are in Injective`s Ecosystem
Injective Protocol has meaningful partnerships within the blockchain industry, including Elrond Network, Findora, Frontier, Kava, Wootrade, Maskbook, the leading cryptocurrency exchange Binance and many more.
The DeFi project Injective Protocol was one of eight projects inducted into the Binance Labs Incubation Program in 2018, with the mission to resolve some of the shortcomings DEXs face, such as high latency and low liquidity. This engagement of both is very promising. Let’s assume speculative that it’s only a matter of time till Injective Protocol` cryptocurrency INJ is traded on Binance. It is interesting to see which community fundraising model Injective Protocol will decide to, an ICO, IEO, or a modified alternative public token sale.
The decentralized derivatives exchange protocol Injective Protocol seems to be a real unicorn. The team achieved it to raise $2.6m in seed funding from well-known investors, such as QCP Soteria, Axia8 Ventures, K42, Boxone Ventures, Bitlink Capital, BitScale, Krypital Group, The Cabin Capital, and Innovating Capital. Pantera Capital, one of the most renowned venture capital firms in the world, led the seed investment round. They recognized the Injective`s potential to be a “strong contender” to expand decentralized finance (DeFi) beyond Ethereum’s platform, which becomes the DeFI revolution’s bottleneck this year, according to Paul Veradittakit.
Want to learn more about Injective Protocol? See the links below!
The future is always uncertain because there is no way to know what will happen. However, using experience, careful observations, and calculations, predicting an outcome’s chances is possible. From time immemorial, the right prediction has always been sought after, be it the outcome of a sporting event, elections, and even finances. The modern prediction market is enormous. Today, large corporations such as Google use these markets to forecast strategically important events, such as product launches, startups, and technology traction.
PlotX is a decentralized platform that is all set to bring prediction markets to the rising DeFi phenomenon. It has teamed up with DAOMaker to be the next in line for their lucrative Strong Holder Offering.
Current DeFi Issues and PlotX Solutions
As simple as it may seem, prediction markets are cumbersome. Intermediaries and closed systems rob the market investors of their hard-earned money:
· Trust Issues: Closed and unreliable, market operators do not give information to investors. They withhold crucial data such as how the odds are calculated, who the participants are, and how the event outcome profits were calculated.
· Commission: As middlemen, these market operators take a hefty charge for their services, eating into not only the profits made but charging for even taking part in the market.
· Isolated: Market players are not aware of how many other investors are vying for the outcome of an event, what they are investing, and what predictions are being made. This data can be useful and even change the strategy of a market player.
PlotX takes the prediction market and merges it with DeFi. Based on smart contracts, the platforms offer complete transparency to the whole industry. No intermediary would charge high commissions, meaning the profits are passed on to the prediction winners. The clarity and openness of blockchain mean that every participant is aware of the complete workings, what is going on, and what is the trends in the predictions. PlotX leveraging blockchain to offer speed of interaction, instant liquidation, and flexible turnaround times of 1 hour, daily, and even weekly predictions.
Rather than take the traditional way of funding through ICO and IEO, PlotX has taken a different approach. It has been witnessed repeatedly that excellent projects face serious failure issues due to investors planning short term profitability. The tokens are bought feverishly only later to be dumped in the market for instant profits. This has a drastically negative impact on the project and often leads to its collapse.
To counter this, PlotX is taking two different approaches to the token distribution:
PlotX Community Offering
PlotX believes that the people who have been associated with the project since the start are the ones who deserve the most. For this, it is currently making a Community Offering, where people have taken part in running the PlotX test net and participated in its community and competitions. The older a participant, the higher a priority he or she has. Users will need to whitelist the wallets they have been using during the test net phase to take part in the offering.
There is a total of $125,000 worth of PlotX tokens in the community offering, distributed among 250 lucky winners. The Community Offering is in progress and will end on the 28th of September at 1000 UTC. The winners will be announced a few hours later at 1400 UTC. The successful participants will have 6 hours to reply in kind by completing their KYC/AML checks and submitting their funds.
To take part, users can get themselves whitelisted by visiting this link and clicking the Whitelist tab.
DAO Maker`s Strong Holder Offering
DAO Maker has been running the SHO model successfully. In this model, only people who have a proven track record of being sincere to the projects under DAOMaker can take part. OpenPredict was the last successful SHO and participants have to show that they are still holding on to the tokens as a sign of being sincere to the development of platforms and that they are not investors who are only concerned about making a quick buck.
The OPT SHO was one of the most successful ever, with OPT having a staggering ROI of 12,000% at its all-time high. A participant will need to hold at least 200 OPT tokens to be able to qualify for the event. Since there are only limited tokens available, not all participants will be catered. To increase the chances of being selected, the winning criteria is based on three different factors:
· How many tokens are held.
· How long are they stored.
· Participation in the OPT Uniswap Pool for liquidity.
There are $75,000 worth of PlotX tokens for 150 successful winners. The SHO event will start the next day of Community Offering, i.e., 30th of September, 2020. Applications for participation will be accepted till 1st of November, 1300 UTC. Winners will be announced 2 hours later, and they will have till 1700 UTC to submit their KYC and AML documentation, along with their funds.
Going to the same link as above, people willing to participate in the SHO can head towards the respective tab.
Decentralized Finance (DeFi) is all the rage these days and led to the recent clogging of the Ethereum network. DeFi`s are traditional financial services built on the blockchain technology, which promise numerous advantages to the people involved. DeFiner is a 2018 founded DeFi platform, changing how people view and participate in the global borrowing and lending system, with the potential to change the way we approach existing DeFi startups today and financial services offered by traditional institutions.
Centralized Finance, Shady Business as Daily Business
Taking loans is a reality of life. Small or large, private, administration, or businesses – everyone takes out a loan in their lives. This can be in the shape of mortgage, vehicle financing, or just money. People who turn toward financial institutions such as banks face difficulties securing their preferred loan.
Banks are primarily acting as middlemen, and the financial institutions are there to make money. To be profitable, they charge high rates for borrowers by getting this liquidity at better conditions from national banks, financial markets, and investors. On the other hand, banks give a meager payout to investors and lenders by nature. Setting high to loan seekers and shelling out pennies to investors lets them pocket a big chunk of the profit, scalping both parties. Secondly, to make it feasible, banks have a high barrier of entry. Small loans do not cover up the expenses, which means many poor souls will never have the opportunity to get a loan and fulfill their dreams. Similarly, investors and lenders are asked to deposit large sums of money before they are eligible for receiving profits from their investments.
Borrowers are at the mercy of their credit score. In a financial system designed to make loan repayment difficult and encourages paying out the interest accrued, the credit score is drastically reduced. This leads to lower access to loans- and if loans are secured, the interest rate gets higher. Borrowers also may be required to put in collateral for a loan. The collateral is evaluated by the institute, usually at a lower than market value, and the loan approved is just a fraction of it.
For investors, another issue is that financial institutions are very inflexible when it comes to pulling out their investments. Other topics such as minimum balance to be maintained, annual charges (For depositing their Money!), and additional allied fees keep piling up.
DeFiner is re(DeFi)ning Financial Loan
DeFiner, as a DeFi platform and is supported by Techstars, a global acting seed accelerator platform for investment, mentorship, and innovation. Definer offers digital asset users financial services by bringing the best of CeFi (Centralized Finance) into DeFi, including loans, savings, investments, and payments. In short: own your keys on an auto-insured account that is yield-optimized and bridged to both retail and institutional lenders/borrowers.
DeFiner`s products are based and powered by blockchain technology and its advantage features to overcome people’s issues by eliminating the traditional middleman (banks and financial institutions) and connecting lenders and borrowers directly by a protocol.
Earning on Deposits: Crypto owners can deposit their tokens on the platform and earn interest as high as 12%. This is far higher than any expected return using traditional banking or financing systems. Depositors also get the option of flexible terms. There is no minimum or maximum time limit involved. Depositors can also instantly apply for loans against their tokens.
Lending and Borrowing: The peer to peer market allows borrowers to search and find a loan offer that suits their needs. There is no credit scoring and no complicated paperwork to fill. Similarly, lenders are also incentivized in the same manner, their assets being lent out and allowing them to earn interest.
What Makes DeFiner Different?
Leveraging blockchain, DeFiner gives its users the best of DeFi possible. Speed, efficiency, security, and economical approach set DeFiner apart. Each smart contract is audited to ensure that there is complete transparency of the agreements. As a peer to peer platform, there is no intermediary and no premiums or commissions involved. The savings are passed on to the users.
The platform also offers financial security. All DeFiner users are covered by insurance from Nexus Mutual. This protects investments from losses. Furthermore, DeFiner loans are fully backed by collateral, giving lenders a peace of mind that their assets are protected at all times.
With more than 15 different tokens to choose from, DeFiner users can lend and borrow BTC, ETH, DAI, BNB, USDT, and many more.
Strong Holder Offering by DAO Maker, it’s not about Fundraising only
SHO is a mechanism by which investors have to prove that they are since with the project by applying for an allocation spot and showing their investment history. The crypto arena is full of hundreds, if not thousands, of examples where a tremendous interest was initially shown towards a project. The market cap of the sales was achieved quickly, and the subsequent token listing on exchanges further allowed traders to buy the tokens, fueling more rise in value.
These rises were short-lived, though. Investors would calculate their target profit on the tokens, and when achieved, the tokens were sold out. This pump and dump scheme would mean instant earnings for the investors, but it always spells out doom for the project.
To counter this, DeFiner is making an SHO offering through DAOMaker. Interested participants of an SHO must show that they have held tokens from the last SHO, and provide their investment behavior in general, proving that they are not into the pump and dump scheme, but are sincere with the project. DAO Maker`s fundraising platform is indexing and ranking every applicant based on the provided data. The last SHO on DAOMaker was the OpenPredict, a platform that allows people to make money by predicting different events. OpenPredict`s token OPT achieved an ROI of +12`000% at his peak and commuted at +3500% during the last week.
SHO participants for the DeFiner platform and its native token FIN must show that they are sincere by holding some OpenPredict Tokens (OPT) for a certain period. Only those who do will be able to take part in the SHO. With a token supply of 8.38% of the total 42 million tokens in the SHO, initially, only 1,106,000 FIN tokens will be made available.
Another successful fundraising model from DAO Maker is the DYCO, which was successfully used by Orion Protocol, a CeFi & DeFi connecting platform and liquidity providing protocol at the beginning earlier this year. Questions regarding the SHO can be placed in DAO Maker`s Telegram Chat.
The DeFiner Strong Holder Offering SHO is split across three rounds and is held on DAO Maker`s Fundraising Platform. More details here.
Round 1: Strategic Round: Allocation: 35,000 FIN a $0.6/token ($21,000)
Round 2: Strong Holder Offering: Allocation: 100,000 FIN a $0.6/token ($60,000)
Round 3: Whitelist Lottery: Allocation: 25,000 FIN a $0.6/token ($15,000)
Cryptocurrencies were created out of the necessity to break away from the traditional banks that have grown over the centuries from being institutes that offered traders and people an easy service to store, send and receive money- to becoming firms that are on a mission of personal profitability. As banks have evolved, so have their methods of maximizing their profits and giving scraps to people. Economic freedom is a myth in traditional banking and financial systems.
Banking: What is Wrong Today?
People run banks, and they need to make money. Today, these financial institutions are the most significant public fraud. People come to banks to deposit their hard-earned cash in hopes of investing and making profits. The banks take that money and support highly profitable endeavors or offer loans at a much more significant markup. The banks pocket the majority of the profit, and the people who invest in different banking accounts receive peanuts in comparison.
The worst part of all this? The banks not only offer meager profits but also end up charging their customers for different services. It’s your money, but you have to pay an annual fee for your debit cards every time you need a new checkbook or simply wish to make withdrawal exceeding your limits.
Similarly, borrowing money against collateral only gets a small portion. On top of that, the interest charged means a lot of times, and people end up paying back a lot more than they bargained for.
CEL, Financial Freedom for Everyone.
Celsius Network is a crypto platform that wants to unbanked people. Cryptocurrencies are created to forgo banks’ needs, and that is precisely what Celsius is set out to do. The platform offers a complete basic banking system with benefits no legacy setups can match:
Earn: Maximize earning power by transferring cryptocurrencies to the Celsius app and earn up to 22.4% per annum. There is no minimum limit, no charges, and investors can earn in the invested coin or Celsius’ CEL token.
Borrow: Need a loan, but banks offer too little and demand a very high interest? Celsius can help people secure loans in minutes, without any time-consuming paperwork or credit rating checks. People can secure loans as low as 1% APR. A $1,000 cash loan means only $10 in interest for a year.
CELPay: Cryptocurrencies are useful only if people can pay and accept them. The CELPay lets users send and receive crypto payments as easy as texting someone. Users need to open up the Celsius app, select their contact, choose the crypto token they want and amount, add a note to the receiver, and simply send.
CEL, the native cryptocurrency of Celsius Network is rocking hard
Celsius’ popularity is immense. In its equity round in July, the platform exceeded its goal of $17 million, and over 85,000 investors backed the network by $18.8 million. The CEL token has also brushed off the spring 2020 crypto crunch, gaining 800% in value in as little as three months, from mid-March to June.
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Blockchain pioneer NEM (NEW Economy Movement), the 2015 founded company behind the NEM blockchain and NIS1 protocol, has launched NEM HUB, its Social Mining Platform powered by XEM, their Cryptocurrency. The community-oriented platform was officially announced on July 15, 2020, to unite and empower NEM’s global community.
NEM HUB participants can stake their XEM and create quality content like articles, videos, leads, engaging social media posts, etc. Besides, they can complete the requested tasks to earn rewards and distribute rewards to earn points. Community members and admins will evaluate (i.e., upvote or downvote) user-generated content on the HUB, giving them the power to decide what contributions are valuable to the NEM ecosystem.
Similar to social media programs of crypto projects like Steemit, EOS Voice, Read.cash, Uptrennd, and Peepeth, NEM HUB will reward community participants in cryptocurrency for generated Value. However, the XEM rewards platform offers a unique twist to social mining as it aims to users who have a stake in the platform’s success to eliminate the short thinking bounty hunter hordes.
As a precaution against low-quality content and malicious users, you need to stake a minimum of 1000 XEM to qualify for rewards. At the end of the month, a minimum of 10,000 USD in XEM tokens will be distributed to all participants based on several factors, including the amount and quality of content produced during that period.
During the Soft Launch, NEM ran a logo design contest for the Japanese community, the most active community, and NEM stakeholders. The winning design submission voted by the community has now been adopted as the official logo for NEM HUB Japan. The international community writer contest got more than twenty article submissions within one week, and many of them are high-level contributions. NEM HUB also has biz-dev, marketing, educational, or specific niche task for local communities.
To become a NEM HUB contributor, and start earning rewards for your engagement, visit NEM HUB to sign up in minutes. Be sure to complete your profile information and link your social media accounts to cross-post your content. Once you’ve completed the onboarding survey, simply connect your cold wallet and hold at least 1000 XEM in it.
You can contribute to the HUB in various ways, anytime and anywhere (as long as you maintain high-quality contributions). You can write helpful articles, translate and localize content, design engaging infographics, create an explainer video, or support the biz dev team by bringing in qualified leads.
To earn better rewards, you should aim to create quality content and contribute in a positive way that provides value to the NEM ecosystem.
Earn Free XYM with XEM Tokens
Symbol (or less commonly, “Symbol From NEM”) is the open-source decentralized blockchain platform 2.0 from NEM. Symbol connects businesses to blockchain infrastructure, helping them to reduce cost, complexity, and find new ways to create value.
From an economic standpoint, Symbol is a sustainable, rewards-based ecosystem consisting of node operators, harvesters (NEM’s term for miners), investors, users, and XYM tokens. XYM is the native cryptocurrency and fuel of the Symbol public blockchain. It is used to pay for transactions to incentivize the network of public nodes that process and record transactions, giving XYM fundamental value as the currency of a functioning economy.
One of the benefits of contributing to the NEM HUB is you’ll be rewarded in XEM tokens. As previously announced, all XEM holders can ‘Opt-in’ their XEM holding to get mirrored XYM tokens 1:1 when the Symbol blockchain launches in late 2020. Interestingly, XYM holders can participate in rewards whether or not they run a node.
Like mining rewards, Symbol harvester rewards will be distributed to block creators and validators based on Proof of Stake+ (PoS+), an improved variant of the efficient Proof-of-Stake algorithm. As a Symbol harvester, you’ll earn rewards just by holding a token balance. You can make even more generous rewards by running nodes to keep the Symbol protocol open and decentralized.
As mentioned in NEM HUB chat, NEM is indet to prolong the community platform beyond the Symbol launch and is working on the launch of NEM INSIGHT, a community education platform, and SYMBOL Library, the “WordPress-Platform” for Symbol`s ecosystem.
Bitcoin was created out of a necessity to make financial transactions easy and accessible to all. Geographic locations and political restrictions would not matter. Cryptocurrencies, therefore, were designed to take the economic power away from a few elite and back to the people.
Decentralized Finance is the next iteration of the ease of financial handling. It uses blockchain to create many different financial products and services, making it easy for people to use. This includes every possible financial setup in the traditional sense: banking, loans, trading, insurance, employment contracts, etc.
Decentralized and Isolated
In the last few years, the DeFi movement has seen significant trends and adoption. The use of smart contracts and dApps has led to the creation of some exciting projects. One of them is Bancor, a decentralized exchange that offers uninterrupted liquidity and operates without an order book.
However, there is one thing that is a significant hindrance to DeFi. The ability to quickly make DeFi services has meant that hundreds of them are active today, but they work independently. Using their blockchain networks, they work in isolation from each other. For DeFi users, this can be problematic if they want to use multiple DeFi, and different platforms and chains offer the products or services.
Ferrum: Interoperability of DeFi
Ferrum Network is a blockchain system that creates an opportunity for different DeFi platforms to connect. This interoperability of chains breaks down the silo-like situation and eliminates the barrier towards global mass adoption. To help people and encourage the adoption of DeFi, Ferrum has created a few independent services of different blockchains:
UniFyre Wallet: Send and receive any cryptocurrency, using any messaging app. With Link Drop technology, users don’t need to worry about having the right wallet and remembering the long string of characters that make up a wallet address.
Infinity DEX: A completely decentralized exchange with advanced trading such as margin and leverage. The exchange is a cross-compatible platform and allows different tokens to be traded.
Sub Zero: A universal wallet app that can convert any offline Android-based mobile into a cold storage, offering extreme assets protection.
FirstKudi: Invest and send money to any place in the world through Ferrum’s own payment gateway.
Flexible Staking: Users of Ferrum can stake any ERC-20 standard token by offering them a single entry point, eliminating the need for users to sign up on different platforms.
The Foundry: Projects can launch their platforms through the Foundry, giving them access to many backers and investors, even if they are not on the chain.
Token Bridge: Moving assets between chains has never been easier. Users can send currently send and receive assets on Ethereum network and the Binance chain.
Cross-chain liquidity provider: Ferrum Network has been working with the Binance Chain community to help make Binance Smart Chain a robust blockchain platform. They are part of a growing network of BUIDLers.
Swap drop Technology: revolutionary OTC solution that eliminates escrow and allows parties to swap tokens risk-free using a shareable link. Parties can take advantage of Swap Drops to conduct risk-free OTC trades over telegram or any other medium.
DeFi Flash Sales, Risk Free-OTC at a Discount: a short term sale of project’s tokens (at a discount) using the UniFyre Wallet Swap Drop technology, which takes place in a Swap Drop OTC channel.
FRM Buyback wallet: 100% of fees earned from the DeFi Staking Platform support the Uniswap liquidity pool or FRM staking rewards.
Staking Feature for Unifyre Wallet: pools for staking projects already listed on UniFyre.
FRM Holder Benefits program: a reward program for the community members holding their tokens on UniFyre wallet; FRM holders get benefits from every new financial activity made by the current and the new partners of Ferrum Network.
Ferrum Network is a very intuitive approach towards uniting different blockchains into a single, massive network that will see DeFi being available for every user across the globe. The platform already has practical applications that are being used by hundreds of people.
The platform is the perfect tool to remove the barriers that afflict DeFi currently. To learn more about the Ferrum Network, check out their newly redesigned website.
Where most projects still take the path of ICO`s or IEO`s to offer their tokens to the community, DeFiner has decided to protect investors and the DeFi startup`s interest with an SHO. It has made a strategic partnership with DAO Maker to hold a Strong Holder Offering (SHO). SHO is a unique token sales system developed by DAO Maker to ensure that project launches do not become a pump and dump scheme and creator of an unneeded token.
Who is DAO Maker?
DAO Maker is a consulting agency and software provider that offers services to startups in the blockchain space. DAO Maker`s blockchain agnostic Social Mining Software has powered many established blockchain and crypto projects. Such as LTO Network, Elrond Network, Harmony Protocol, AVA Labs, 2key Network, NEM, and DEFI unicorn OpenPredict. Orion Protocol, DAO Maker`s first DYCO client, seems to be the next Social Mining integrator. The clients of DAO Maker need to pass strict due diligence procedures to qualify for their exclusive services. The average ROI of DAO Maker`s client portfolio is at +3.000%, the ATH (All-Time High) Return Of Invest at incredibly +5.300%. DAO Maker is an Estonia-based company with licenses for fiat-processing and cryptocurrency custody. Its platform has the option to provide top-notch KYC/AML services as well as modern fundraising tools.
Introducing the Strong Holder Offering (SHO) Philosophy
Dumping (flipping) the tokens into the markets without any buying power straight after an ICO/IEO have turned the crypto space into a money grab. The Strong Holder Offering model is inspired by the urge to protect DAO Maker`s community and client`s interests and reward the loyal, strong holder.
DAO Maker`s software takes into consideration how sincere the investor has been with the last investment. This is based on what is called a Hodl Index. The Hodl Index calculates the amount of last SHO (OpenPredict) tokens deposited in the wallet multiplied with the time the tokens have been held. The longer a person holds tokens, the higher the Hodl Index will receive more lottery tickets. Dumping the tokens into the market and pushing the courses down has also a bad effect on the Index. A similar system was applied to the Dynamic Coin Offering (DYCO) of Orion Protocol, a DeFi liquidity aggregator platform, and protocol. In Orion`s case, the hodl of Elrond Network`s token ERD (eGLD now) was crucial to get lottery tickets. Orion`s current Return Of Invest is at +2500% and had an ATH-ROI of +7,000%.
Knowing the best (strong & loyal) investors, DAO Maker is ranking and honoring them with the option to participate in new token offerings. The lottery tickets give the investor the chance to access more projects and tokens of an SHO or DYCO and eliminate harmful and short-term thinking investors in one fell swoop. Now that DeFiner has teamed up with DAO Maker, users holding the last SHO token, OpenPredict’s OPT can take advantage of their OPT holdings to get their hands on the decentralized lending loan market.
TL;DR the Whitepaper of DeFiner
DeFiner is a 2018 founded DeFi platform for decentralized digital asset financial services, specifically a lending platform where users can deposit and borrow digital funds. Depositors and borrowers both accumulate interest over time, which is earned by lenders and paid by borrowers. The dezentralized platform powered by the protocol is broken down into two products: a digital asset savings account (made up of lenders) and a peer-to-peer lending marketplace (for supplying borrowers). DeFiner removes the need for third parties from its financial ecosystem, as it allows to “control the keys to your auto-insured account, which is also optimized for Yield”, by using blockchain technology to track all loans and transactions, providing ultimate security for users.
As for “automatic insurance and optimization”, the point is that people deposit a lot and borrow a little. Because of this, the lending pool is large and the rewards are scanty. So, DeFiner lends funds that were not used inside the system using special algorithms to where it can bring more money.
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Bitcoin was envisioned in 2008 by Satoshi Nakamoto as the modernization of current currency systems, bringing in a change of freeing people from the clutches of central banks. The king of cryptocurrencies even had its new data maintenance and processing technology, blockchain. However, a few years later, in 2013, Vitalik Buterin realized that the technology had more potential than just being a medium for a digital currency to run on.
Elrond: Blockchain at a Global Level
Today, blockchain is used for various daily life purposes, the best example being smart contracts. Yet blockchain technology still lacks the essential resources and processing power required to be genuinely revolutionary.Elrond is a blockchain ecosystem built to cater to the immense load on the network due to the internet’s global connectivity.
The Elrond blockchain has been built from the ground up to provide the followingbenefits:
Parallel Processing: Blockchain is inherently serial in nature. Using what is called Sharding, the Elrond blockchain network can work in partitions, each working in parallel.
Scalability: Designed to be a thousand times faster in transactions per second than the top blockchain networks, with a massive 250,000 transactions per second.
Proof of Stake: Currently, the top blockchain networks are using Proof of Work (PoW) to verify transactions on the network. The system is computer heavy and consumes a lot of power. Elrond uses Proof of Stake, a much simpler method that uses staked tokens as game theory.
Cross-Chain Interoperability: Elrond is designed to have different blockchains working together, enabling isolated networks to link together in one massive global network.
Elrond Mainnet and Elrond Gold
At the end of July this year, Elrond made a massive leap as it moved from atestnet to its mainnet. These marks move from being an experimental blockchain network to a fully-fledged decentralized system.
With the shift, Elrond has created a new token for the mainnet, dubbed the Elrond Gold. The new tokens, also known as eGLD, are available through a direct swap of the testnet tokens in a 1000:1 ratio. This means that users will be able to swap 1000 of the ERD tokens for 1 eGLD. With a limited supply, this also means that the total tokens available on the new network are reduced by a massive 99%, from 20 billion to just 20 million.
At the time of writing this article, eGLD was trading at $13.79, up more than 10% in the last 24 hours, with a market cap of $189 million and 13.7 million tokens in circulation out of the 20 million, according to CryptoRank.io.
Is it Worth Investing in Elrond?
Elrond is one of the most successful IEO from the Binance Launchpad, raising $3.2 million in 2019 by selling off 25% of its tokens. Over the months since then, the original ERD tokens hadgained a massive 1200% in value.
With the main net launch, there is renewed interest in the network, and eGLD tokens are nearly ten times in value of the ERD value.
Our Food is in Criminal’s Clutches, Food Fraud is Everywhere
Food fraudsters have been taking advantage of naive consumers and merchants by degrading the quality, ingredients, origin, and sometimes even the brand name. This challenge has long been sidelined by public concern due to the accepted inevitability of it.
Yet, with the emergence of the IT revolution, especially in supply chain management, the world has become equipped with solutions to fight fraud in virtually every segment. The most exciting part of this revolution is that it directly or indirectly impacts each of us. Be our consumption through e-commerce or traditional brick and mortar stores, surety and security is every consumer’s priority.
The Hidden Danger
Despite societal changes towards adoption of laws that deliver greater security, some dangers lurk unseek. In many cases, it’s likely that when you buy olive oil, fish, honey, or wine you’re not buying what is stated on the label.
Could you guess that these words are related to the food industry and the products in your kitchen? The food sector, due to the very nature of every human relying on it, is home to one of the most prosperous and lucrative black markets, composed of dangerous, globalized food regimes built on the delivery of false products.
Olive Oil Fraud affects all of us
Let’s take an example of the Olive oil market. Spain is the largest producer of olive oil globally, with an annual production of 6.5 million tons. Being the largest producer, it has been facing numerous adulteration problems. In 2013, Spain received an international judicial request from Italy to negotiate its product quality being exported. Proceeding it, several companies in Spain were investigated for allegedly exporting adulterated oil in the name of authenticated extra virgin oil. Various middle operators sold these oils, or should I call service-man who may temper the quality or adulteration. After investigation, it was reported there were nine intermediate suppliers. They fortified the quality through the process of de-acidification and deodorization, which made them alike extra virgin oils, according to a document obtained by Europa Press.
Note that: A top quality extra virgin oil will be Fruity, Peppery flavored, and have a smell of cut grass, tomato, and artichoke.
Another major trouble is to cope up with testing activities of raw material. We need a unified method internationally to test the quality of Olive oils. If different countries take different testing standards, they will have different results, which surely plummet consumers’ trust. Hence, Symbol Blockchain justifies API based unified and interoperable links within its ecosystems to ensure the same methods have been adopted worldwide. Symbol provides a wide range of data distributed at every node to track the exact proceeding of raw material.
Almost one-third of Shops and Restaurants in US are selling adulterated seafood
A recent investigation in the US fish market came up with shocking results about fish meat’s mislabeling and selling it by false names in many US districts. A Nonprofit organization in the US took samples from 449 shops and restaurants and performed DNA tests, and to their surprise, it was found that about 20% of the pieces were discreetly mislabeled. Almost one-third of all shops and restaurants checked were selling adulterated seafood. Seafood is most often misguided on restaurants menus and smaller markets, and the most common adulterated fish menu is Sea bass (55%) and Snapper (42%).
Fish fraud is a global problem. The World Economic Forum published a severe report. It urged nations for quick and stringent actions to mitigate the fish fraud problem by devising a global strategy using digital data-sharing technology. It also suggested collaborating to trace the network of imports, exports, and supply chains worldwide. Doing that, it called for investment in Blockchain technology to jump from the current paper-based system to the Symbol system.
Wine Fraud is not only a Chinese problem
A recent survey at Forbes declared wine fraud a global problem. It claimed that over 50% of all wine sold in China were mislabeled and adulterated. According to a report, at every hour, 30,000 bottles sold in China were fake labeled. Even Europe is in the clutches of criminals, Counterfeit bottles of the the legendary super Tuscan wine Antinori Toscana Tignanello found its way unhindered to gastronomy and retail in Germany, Belgium, and Switzerland. The symbol here helps both parties, producers, and consumers by a continuous supply of information about what is happening to their goods. It can trace their product’s exact location in no time.
For example, if a consumer wants to purchase a bottle of wine, he/she will rely on label information alone. The manufacturer of wine will depend on the supplier. The supplier will depend on the authentic organization’s certification, which lately relies on grower or producer for the original supply of raw materials. In all this chain, if only one person scams, then the entire chain will get disturbed. Symbol has brought the dynamic revolution to record all the information provided by the farmer while dispatching raw materials. The same information will be provided to all blocks in a chain. And when a consumer comes to buy wine, he/she would be provided with the same information as it was dispatched earlier at the vineyard. Hence, developing a trusted network among its ecosystem.
Symbol, a development by blockchain pioneer NEM, is stepping in to provide highly secured data to its users by using cryptographic functions over a distributed ledger.
NEM was launched on March 31st, 2015, and is designed to work in a high load ecosystem that connects both the private chain with a local chain in a distributed ledger and bolsters security with overwhelming measures.
Symbol from NEM can work at very high speed and perform a plethora of transactions in a single click directly from consumer to manufacturer. Simultaneously, connecting many users at a single platform, Symbol achieves product traceability, production, and supply with high precise data and security. It regulates continual checks to trace any scam in Blockchain and curtail with stringent measures. ‘Consumers should be entitled to have continuous food quality and safety checks for their satisfaction.’ says Prof. Dr. Michel Nielen, a leading researcher from Wageningen University in the Netherlands.
TL;DR: Blockchain Technology
Blockchain algorithmic technology is welcomed as the next disruption in IT and goes far beyond Bitcoin and Cryptocurrency, which would have been embedded in every business, trading, and supply chain near the future. It stores administrative data in the form of blocks or nodes that are cryptographically secured and persistent. Blockchain brings transparency in the supply chain, which helps to reduce fraud and strengthen food safety. Symbol enables swift and secure transactions while blockchain integrates multiple parties to engage in a comprehensive financial agreement between producer, consumer, distributor, and seller, who verify the contract, quality, and security with their multiple signatures
How does Symbol from NEM work?
Symbol works on DLT (Distributed Ledger Technology), a consensus of digital sharing, and data collaboration worldwide. It includes multiple parties who share their node or block and verify the data in the supply chain as described earlier. It is impossible to detect any fraudster in the conventional supply chain who uses myriad ways to trick consumers and producers. Hence, in blockchain technology, due to the integration of numerous parties in a supply chain, each fraudster can easily be detected at every chain step. Food traceability has become a need of an hour because of these fraudsters’ networks in our supply chain. Thus, the implementation of Symbol in the food industry can resolve many problems and relax its audience with its friendly services.
One of the core projects of the Symbol is its conglomeration with IoT devices. The Symbol works in the dissemination of authentic information along its chain. If a consumer wants to buy something, he/she needs to scan the bar code or use NFC access to make sure the ingredients put at the label are authentic. The customer gets the full chain information regarding the dispatching of raw materials, certifications, import, and export data, manufacturing date, and real price tag mark, which were verified by multi-signature in the blockchain, in a time less than a second.
Symbol Blockchain has an unparalleled contribution to the financial sector and food supply chain. Today, it is at the nascent stage, but it is growing like a whirlwind because it enhances public trust and flexible API (Application Programming Interface).
According to a new report from Juniper Research, Blockchain will enable $31 billion in food fraud savings worldwide by 2024 by continuously tracking food in the supply chain. If this citation keeps going, we will reduce our compliance costs by 30% from 2021
Some key features of Symbol, NEM`s 2.0 development
Some of the reliant features of Symbol are as follows:
Unlike other conventional systems of the supply chain, Symbol provides multiple server information in which a single person cannot alter data; instead, it is controlled by a community. In short, Symbol puts trust back in your hand through its blockchain technology.
In the blockchain, every transaction is performed in a distributed ledger. The same information is spread all over the nodes, and every node with cryptocurrency will see and endorse the transaction, thus making a transparent and reliable transaction for everyone.
Blockchain is an integral system of people that collaborate for the goodwill of both consumers and producers. In that network, there is no need for any middle-man who builds trust between the two parties. Symbol makes smart contacts to reinforce the food traceability throughout the supply chain by state-of-the-art scanning system and IoT devices.
The most admirable feature of Blockchain technology is its immutability. The data, once made in Blockchain, cannot be tempered in the future. This feature made Blockchain technology the most trustworthy and popular. Many other industries who want to secure their data and prevent any adulteration are switching to blockchain technology.
Apart from its enterprise-friendly approach of immutability, transparency, decentralization, and trust-less transaction, Symbol provides a top notch KYC (Know Your Customer) verification to its customers. KYC, however, offers dynamic security to its system. Criminal entities are well aware of the loopholes in the supply chain in usual practice, and their key focus is to target that loophole with their malicious approach. They try to exploit the algorithm present at that system due to unauthorized loopholes in a chain. Symbol from NEM provides a proactive measure to diminish data breaching by a highly secured algorithm covering the entire chain at a distributed ledger.
Symbol Hash Function:
An exciting application of Symbol at which it works is its Hash function. Hashing means to convert one data into another proxy code to prevent it from scammers. Blockchain transfers millions of data every second. Thus by hashing, it can deliver fast and secured data without intermediaries to other nodes ensuring high professional B2B (Business to Business) financial dealings. Each node is interlinked with another node by a data at each node or hash in the blockchain. Hence, even a little change in data during the supply chain will result in a drastic change in the entire hash, and everyone in a chain will get notified immediately. Thus, the exact scammer or intruder will be caught red-handed.
Symbol from NEM and the Fourth Industrial Revolution.
We are at the cusp of the Fourth Industrial Revolution, which fuses Digital, Physical and Biological systems at a single platform. Compared with previous IT revolutions, the Fourth revolution is growing exponentially and affecting every industry with its emerging pace. It is no longer, and IT would take charge of our entire systems in a quietly efficient and significant way. Sooner or Later, It will transform the structure of our production, management, and administration with its agile features.
Technology is moving us towards automation. Due to many physical disruptions and adulteration of data in the supply chain, the world is seeking a trusted way of doing business. Symbol from NEM has stepped in with its innovative state-of-the-art techniques to build manifold transformations in blockchain technology and soothes every user with its essential services. Symbol works in AI (Artificial intelligence) to interact with every node in a blockchain. It makes a decision quickly and responds in milliseconds. Thus, there would be no chance of scamming between the supply chain food industries anymore.
In the long run, every industry would be shifted from conventional blockchain to Symbol blockchain and will witness a breakthrough in its production, supply chain, and customer support with its overwhelming features.