Decentralized finance (DeFi) platform Uniswap’s governance protocol token UNI went live on Ethereum earlier today. The community showed immediate support for the new token with Uniswap’s Twitter announcement garnering over 1.2 thousand likes in the first 90 minutes. 150 million UNI, or 15% of the token’s supply, is now available to be claimed by anyone who has used the platform. Synthetix founder Kain Warwick called the move a “galaxy brain move,” adding that this will be “the best token distribution we have ever seen.” With the news going viral, 13,000…
Tag: Token
Yearn Finance shuns governance token with new stablecoin lending protocol
Popular decentralized finance platform Yearn Finance has announced a new lending protocol dubbed StableCredit. StableCredit combines tokenized debt stablecoins, lending and single-sided automated market makers to offer what it describes as “a completely decentralized lending protocol” reminiscent of MakerDAO (MKR). Introducing StableCredit, a new protocol for decentralized lending, stablecoins, and AMMs. https://t.co/Cuoo2OMi5H — yearn.finance (@iearnfinance) September 10, 2020 Users can deposit USD Coin (USDC) to mint StableCredit USD at a ratio of up to 75%, which can then be then exchanged for other crypto assets. To release the locked USDC,…
NFT market’s RARI token sees 100% gain after CoinFund investment
New York-based crypto investment firm CoinFund has made an undisclosed investment into the digital art-focused non-fungible token (NFT) marketplace, Rarible. According to a September 8 announcement from Rarible, funds from the pre-seed round will be used to develop a “community-governed” NFT marketplace. The Rarible platform launched earlier this year and began issuing its RARI governance token this week — with RARI doubling in price since trade commenced on Uniswap 24 hours ago. Rarible predicts that the NFT sector will see a 50% growth in capitalization to tag a $315 million…
Bitcoin ‘maximalists’ accused of ‘shilling’ an SEC-cleared token
On August 24, INX launched a tokenized initial public offering or IPO which was cleared by the SEC. The company describes its mission as bringing “regulated digital asset opportunities to institutions and retail investors”. The following day, several crypto influencers tweeted what appeared to be promotional statements about the company and its token. Stefan Jespers, known as WhalePanda on Twitter, compared the INX token to Binance’s BNB: Source: Twitter. A similar sentiment was voiced by Jameson Lopp, the CTO of Casa and a self-proclaimed cypherpunk: Both Jespers and Lopp are considered…
What’s Next for the Ethereum Token?
Following Bitcoin, Ethereum, and other top cryptos lower, Compound (COMP) has shed 9% in the past 24 hours., the asset now trades at $180, lows not seen in over a week. COMP’s -9% performance in the past 24 hours makes it one of the worst-performing digital assets of that time frame. For context, Bitcoin and Ethereum both fell by approximately 2% over that same time frame. While Compound’s retracement is scaring investors, certain analysts remain optimistic due to technicals. There are also fundamental factors that may drive (at least temporary)…
Binance Issues ONT-Backed Token For DEX Trading
Growing the library of assets built on its own blockchain, Binance recently issued a new token backed by the crypto asset, Ontology (ONT). Built on Binance’s blockchain and governed by a series of parameters known as BEP2, the new token goes by the name ONT-33D, a Binance spokesperson told Cointelegraph in an email. Tokens are backed by ONT coins Each ONT-33D token holds a backing of one ONT coin, the spokesperson said. In theory, this should keep the token’s price the same as the ONT tokens traded on the open…