Tag: Platform

Why This Cardano Based Lending Platform Records A 20% Up In TVL

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Data from DeFi Llama records a massive increase in the total value locked (TVL) of FluidTokens, a Cardano-based lending protocol. This blockchain deployed its smart contract capabilities in late 2021 and has been experiencing a spike in ecosystem growth as more projects are launched on mainnet. Related Reading | When Will The Extended Stretch Of Extreme Fear In Crypto End? According to DeFi Llama, the Cardano-based lending and borrowing platform has seen a 20% increase in its TVL for the past week and a 56,600% increase in its TVL during the…

Paradigm Leads $16M Round for NFT Membership Platform Hang

Hang, a Web3-powered platform connecting brands with members, launched Thursday and announced raising $16 million in a Series A round led by Paradigm. The funding will be used to double down on the expansion of the product, engineering and go-to-market teams with a focus on “speed and scaling,” Hang co-founder and CEO Matt Smolin told CoinDesk in an email. Source

BNB Chain launches DApp platform with ‘Red Alarm’ to warn users about scams

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BNB Chain has launched a new platform, DappBay, to discover new Web3 projects with a novel feature called Red Alarm. The new alarm assesses project risk levels in real time and alerts users of potentially risky decentralized applications (DApps), according to a Thursday announcement. Red Alarm is a contract risk scanning tool offered by DappBay that helps users identify high-risk projects to protect their investments from rug pulls and scams. Users can check if a contract address has logical flaws or fraud risks by entering it into the Red Alarm feature.…

Tencent shuts down NFT platform as gov policy makes it impossible to thrive

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China’s internet giant Tencent has reportedly shut down one of the two nonfungible token (NFT) platforms owing to declining sales aided by the regressive monetary policies of the Chinese government. Tencent shut down one of its NFT platforms on July 1 while the other one is struggling to remain afloat. A report from a local daily indicates that the wind-down process for the same began in May. The tech giant transferred key executives responsible for managing the NFT platform in the last week of May and completely removed the digital…

Swiss Post’s banking arm developing in-house crypto custody platform

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Switzerland’s Post Office is set to onboard cryptocurrency trading through its banking arm PostFinance as user appetite for custody grows in the country. Some 2.6 million users that currently bank with PostFinance, the fifth largest bank in the country, are expected to be able to buy and sell Bitcoin and other cryptocurrencies through an inhouse trading and custody service in the next two years. As reported by local media outlet Swissinfo, the executive board of the Post Office’s banking arm intends to provide direct access to cryptocurrency markets through a…

Security Token Platform Tokensoft Launches Web-3-Enabled Platform, Tokensoft V2, on Ethereum, Avalanche

So far, the platform has worked to eliminate bots that can monopolize sales, ensuring real users can access and participate in popular sale events across the platform. To make sales more streamlined and less expensive, Tokensoft also employs web-3-native technology that queues users into a sale at an expected rate. This prevents users from flooding a sale all at once, which causes transaction fees on the network to spike. Source

Russian Sberbank Conducts First Digital Asset Trade on its Blockchain Platform

Sberbank, a Russian majority state-owned bank, announced on Saturday that it has conducted the first digital financial asset transaction on its own platform.  The lender said that through the use of its smart contract-based blockchain platform launched in March, it has carried out the first transaction, with its subsidiary, Sber Factoring, executing a 1 billion rouble (about $16 million) whose issuance is set to mature in the next three months. Sber plans to issue and circulate cryptocurrencies and other digital assets on the platform, which has been built with blockchain…