Day: August 2, 2022

Waves community backs DeFi revival plan for Vires.Finance

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The Waves (WAVES) community has supported a governance proposal to revive the decentralized finance (DeFi) lending protocol Vires.Finance after its liquidity crisis. The vote aims to stabilize the project and compensate the users who were affected.  In April, Neutrino (USDN), a stablecoin running on the Waves platform, depegged from the dollar. This led to a series of user withdrawals within the platform, eventually ending in a liquidity shortage where users became unable to withdraw their funds from the platform. During the event, Waves founder Sasha Ivanov stepped in, accumulating $500…

Lending Platform Vires.Finance Gets Go-Ahead for Repayment Plan

“Amid the ongoing crypto winter, it is essential to remember and highlight the core values of decentralization, immutability, freedom from institutional greed and inclusivity that underpin the blockchain sector,” Ivanov said in a press release. “Unlike other platforms, Vires.Finance and Waves keep weathering this storm – largely thanks to the loyal and decisive community that always has the last word in the matter.” Source

Wirex partners with 1inch to enable wallet-based token swaps

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Non-custodial wallet platform Wirex has partnered with 1inch Network to use its aggregation API to power token swaps. Through the partnership, users of the Wirex wallet will be able to exchange tokens within the wallet.  In an announcement, 1inch Network co-founder Sergej Kunz said that the partnership will allow Wirex community members to swap their tokens on multiple blockchains. Using a search algorithm that finds swapping routes, 1inch will let Wirex users find optimal trading rates for their swaps. Kunz also noted that the partnership is a move that lets…

Google AI turns all 10,000 BAYC NFTs into machine-made art

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Google Cloud Neural Networks worked with its artificial intelligence (AI) software to make art. Not just any art — nonfungible token (NFT) art.  The AI transformed all 10,000 Bored Ape Yacht Club NFTs into machine-made works of art. These pieces of art take the form of abstract paintings. But when viewed closely, the paintings take the appearance of ape shapes that resembles the famous Yuga Labs collection. The project was named Artsy Monke, combining the BAYC ape-spiration and the artistic, fine art aspect of the final product. According to an…

Cronos Chain Mainnet Upgrade Announcement Pushes CRO Prices Higher

Cronos (CRO), the 24th-ranked cryptocurrency by market cap and the native token of the Crypto.com exchange, is among the top performers on the weekly chart and has made a significant gain of 10.02% over the past day. However, the announcement of the upcoming Cronos Chain mainnet upgrade is one of the main drivers of CRO’s strong performance. The first blockchain network to enable DeFi, NFTs, and the metaverse on top of both the Ethereum and Cosmos ecosystems is Cronos. By giving developers the option to rapidly move applications and digital assets from…

Ledger reportedly seeking additional $100 million in funding

Having raised a mammoth $380 million funding at a $1.5 billion valuation in June, French cryptocurrency hardware wallet maker Ledger is looking to raise an extra $100 million, according to a Monday report from Bloomberg. In June, Ledger raised $380 million in a funding round led by 10T Holdings. Now, according to reports, the company is seeking an additional $100 million to help it continue its rapid expansion. Business is said to be thriving as investors seek cold storage for their cryptocurrency, according to sources quoted by Bloomberg. Hardware storage…