Olympus, like other DeFi projects, relies on smart contracts instead of intermediaries to provide financial services to users. Its goal is to create a stablecoin backed by crypto instead of fiat currencies like the U.S. dollar, which users can in turn stake for currently offered annualized returns of 7,800%. Source
On Monday, January 10, the Argentina-based mobile wallet company Belo announced that the platform has added support for the Lightning Network by partnering with the bitcoin payment processor and infrastructure provider Opennode. The mobile application allows users to trade and transact in pesos and now users can transact with bitcoin payments going forward. Belo Partners With Opennode, Introduces Lightning Network Support Belo, the Argentine mobile wallet application founded by Manuel Beaudroit aims to “create a bridge” between the crypto world and life in pesos. On Monday, the company announced it…
Sega, a leading videogame development company, has announced its new stance when it comes to the play-to-earn model and the inclusion of NFTs in its games. In the latest management meeting of the company, which happened on December 24th, Sega CEO Haruki Satomi stated that the company may drop its current experiments in the NFT field if players take a negative view of the subject. Sega CEO Reveals Company Might Scrap NFT Plans The CEO of Sega, Haruki Satomi, has referred to the possible stance the company may…
press release PRESS RELEASE. EverRise launches their fifth decentralized application (dApp) today, EverSwap, a multi-chain decentralized exchange (DEX), with a Native Coin Swap feature powered by their cross-chain bridging dApp EverBridge. The Native Coin Swap (NCS) functionality lowers the barrier to entry for those interested in the multi-chain DeFi space by making the cross-chain experience accessible and seamless with fewer steps, fewer fees, and faster transfers. With EverSwap’s Native Coin Swap, users will be able to swap native cryptocurrencies, starting with Ethereum (ETH / ERC-20), Binance Smart Chain (BNB /…
Sports NFT minting platform and Animoca Brands subsidiary Lympo suffered from a hot wallet security breach and lost 165.2 million LMT tokens worth $18.7 million at the time of the hack. A short Medium update from the Lympo team stated that on Jan. 10 hackers managed to gain access to Lympo’s operational hot wallet and “stole a total of approximately 165.2 million LMT from it.” According to the post, ten different project wallets were compromised in the attack. It appears that most of the stolen tokens were sent to a…
Controversial comedian and commentator Joe Rogan said that he “has a lot of hope” for cryptocurrencies in a recent podcast interview. In the 1760th Jan. 8 episode of his podcast, “The Joe Rogan Experience,” Rogan discussed the future of crypto with fellow podcaster, Adam Curry. Rogan’s podcast has an estimated 11 million listeners per episode, despite Spotify’s attempts to censor some of the more offensive episodes. Rogan, whose podcast took the top spot as most popular on Spotify during 2021, stated: “It’s either going to fall apart completely, or we’re…
Yellow Card has announced the resumption of naira deposits and withdrawals in Nigeria via a statement from the cryptocurrency exchange platform. The move by the company comes almost a year after a central bank directive forced Yellow Card to suspend deposits and withdrawals. CBN’s Growing Interest in Digital Currencies Almost a year after suspending services following a central bank directive, crypto exchange platform Yellow Card now says it is resuming local deposits and withdrawals in Nigeria. The company’s resumption of services also comes a few months after the Central Bank…
Almost inherent to the industry is the idea of expanding, evolving and changing with this ever-growing market. Therefore, many decentralized finance (DeFi) projects come out to show what they got to see whether it can be the next big hit. What comes from these endeavors is the idea that there are ways to change the way people interact with DeFi and related services, usually through a community of cryptocurrency investors through which platforms can gain exposure and raise funding for their projects. Reducing System Problems One project looking to change…
Thailand is fast-tracking its crypto tax plans as it readies regulations for digital asset traders this month in an effort to provide further clarity on crypto-related activities. The Thai revenue department’s director-general has stated that clear criteria for calculating taxes on crypto trading profits will be finalized this month. The statement comes less than a week after the Southeast Asian country’s government unveiled plans to levy cryptocurrency traders and miners with a 15% capital gains tax. Thai Prime Minister Prayut Chan-o-cha had instructed the revenue department to brainstorm the issue…
Bitcoin started a sharp recovery wave from $39,700 against the US Dollar. BTC is rising and the next major stop for the bulls might be $43,500. Bitcoin spiked towards the $39,600 level, where the bulls took a stand. The price is trading above $42,000 and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $41,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might continue to recover and test the $43,500 resistance zone in…