Autor Cointelegraph By Brian Newar

Derivatives are coming to Coinbase, following purchase of FairX

Derivatives are coming to Coinbase, following purchase of FairX

Uverejnil používateľ | jan 13, 2022 |

Major U.S. crypto exchange Coinbase, the third largest in the world by 24 hour volume, intends to enter the derivatives trading markets, having acquired the FairX derivatives exchange.FairX is a Designated Contract Market (DCM) derivatives exchange regulated by the Commodity Futures Trading Commission (CFTC). Despite being relatively new to the market, having launched in May 2021, FairX has secured brokerage partnerships with industry leaders TD Ameritrade and E*Trade, along with 18 others. Derivatives trading refers to the trading of various exotic products linked to the future value of  underlying assets, rather than trading the assets themselves.In a Jan. 13 announcement, Coinbase explained plans to roll out crypto derivatives trading for its customers in the U.S. Coinbase stated, “We want to make the derivatives market more approachable for our millions of retail customers.”A subsequent tweet from the exchange said that adding derivatives trading to its suite of products would ultimately benefit investors on its platform. “The creation of a transparent derivatives market will unlock further participation in the crypto economy for retail and institutional investors alike.”Crypto derivatives account for a lucrative $137 billion in 24 hour trading volume over the past day according to CoinGecko. This puts it far above the roughly $55 billion in spot trading volume across crypto exchanges in the same period.Related: Coinbase announces ‘nearly the entire company will shut down’ for four weeklong breaks in 2022 to allow workers to rechargeRegarding the importance of creating and nurturing liquid derivatives markets, Coinbase said, “The development of a transparent derivatives market is a critical inflection point for any asset class.”Top crypto derivatives exchanges include Binance, FTX, Bybit, and OKEx, all of which are also competitors with Coinbase on spot markets. Coinbase launching regulated crypto derivatives markets would likely slingshot it immediately into the top exchanges in that category as it has 56 million active users, 8.8 million of whom make at least one trade per month according to BusinessofApps.

Čítaj viac
KlimaDAO increases carbon offset stash by 50% in two months

KlimaDAO increases carbon offset stash by 50% in two months

Uverejnil používateľ | jan 12, 2022 |

Carbon offset protocol KlimaDAO has now accrued over 14 million on-chain carbon offsets and is causing waves in the more traditional carbon offset industry.The aim of KlimaDAO is to acquire as many carbon offsets as it can in order to drive up their value and make offset-generating activities more profitable.The Mark Cuban-backed project’s treasury has added over 5 million carbon offset tokens since late Nov. 2021, bringing the total to 14.5 million as of the time of writing. Its offsets are tokenized and bridged to Polygon (MATIC) in the form of Base Carbon Tonnes (BCT) by Toucan Protocol and the new MCO2 tokens by Moss, which were first added to the treasury on Jan. 6. KlimaDAO now owns the majority of the 17 million BCTs in existence.The decentralized autonomous organization is spending $100 million on offsets.Much of the $100 million used for buying offsets comes from the sale of bonds, which are used to increase the funds available to the DAO. Users are incentivized to buy bonds by receiving a discount on KLIMA, the native token from the project. On Jan. 6, the DAO boosted the discount on KLIMA bonds to help raise more funds needed to buy more offsets. The DAOs rapid acquisition of carbon offsets has caught the attention of the traditional carbon offset firm Gold Standard. CEO Margaret Kim criticised the DAO in the Wall Street Journal, suggesting the anon team behind the project posed transparency issues.“We are also concerned about the fact that the founders are anonymous, which runs contrary to the need for transparency in climate action generally and carbon markets more specifically.”KlimaDAO team responded to Kim’s concern telling Cointelegraph, “There are ways to provide assurances without being doxxed.” Being doxxed refers to revealing an anonymous individual’s true identity.KlimaDAO founder Archimedes also addressed the issue of anonymity and trust in the on the Jan. 10 episode of podcast Planet of the Klimates: “Are we ever going to be at a point where we have to reveal who we are? At some point, maybe, Klima becomes so powerful that world governments demand to know who we are.”The team also told Cointelegraph that traditional firms like Gold Standard “may need more regulatory clarity into how a DAO works legally” in order to be more comfortable with the tremendous growth in the project. Related: What’s ahead for crypto and blockchain in 2022? Experts answer, Part 1The KlimaDAO team appears poised to take on the challenges associated with carbon offsets on the blockchain for the long term as it said, “We are prepared to do what it takes to make the DAO successful.”

Čítaj viac
Animal Concerts partners with Korea’s Klaytn: K-pop in the Metaverse?

Animal Concerts partners with Korea’s Klaytn: K-pop in the Metaverse?

Uverejnil používateľ | jan 12, 2022 |

Metaverse concert organizer Animal Concerts has partnered with South Korean unicorn Kakao’s Klaytn network to increase its exposure to the Korean entertainment industry and facilitate Klaytn’s global expansion plans.The Jan. 10 announcement from Klaytn explains that the partnership between Klaytn and Animal Concerts is expected to help Klaytn increase the number of NFTs that are traded on the platform. Klaytn is one of just three blockchains with native support on OpenSea, the largest NFT marketplace, but has the lowest trading volume. Klaytn’s parent company Kakao is also planning an NFT and Metaverse platform called Kakao Games.Animal Concerts will organize and promote concerts in the Metaverse and plans on issuing a cryptocurrency, nonfungible tokens (NFT), and merchandise for top recording artists. The US-based brand has already entered into a relationship with Alicia Keys to promote her album KEYS.CEO of Animal Concerts Colin Fitzpatrick believes that NFTs could be a way for the music industry to boost revenues that have been lost since the beginning of the Covid-19 pandemic. Artists experiencing show and tour cancellations lose out on revenue and the ability to connect with fans in a live setting. Holding concerts in the pandemic free Metaverse could drastically change the way concerts are experienced and prevent the disappointment of a cancelled show, while cutting down on touring cos. Fitzpatrick told Cointelegraph that working with Klaytn is a natural fit since “Klaytn’s major goals are NFTs and Metaverse.” He also hopes to gain greater access to the $6 billion South Korean music entertainment market: “Korean entertainment will be a huge thing for Animal Concerts.”Fitzpatrick noted that while “technical limitations prohibit how many people can actually attend a concert in the Metaverse” due to current scalability issues, he hopes to build a network of virtual venues across existing and new Metaverse platforms to host concerts in a fashion similar to tour. “It’s hard to get the first few going but eventually they’ll start coming to us,” he said. Klatyn is a large corporate-backed blockchain but Fitzpatrick is nonplussed by concerns about decentralization. Klaytn governance council includes 30 mostly corporate entities including Shinhan Bank, LG Electronics, Netmarble, and the crypto-based entities Maker and Binance.Related: eToro rolls out smart portfolios for new metaverse investorsFrom Fitzpatrick’s point of view, there may be some making criticisms about decentralization, but “there are a lot of blockchains that are not as decentralized as advertised.”He also feels that there are also advantages to corporate entities being involved in the blockchain space:“I don’t think people fully appreciate how things will work with a blockchain backed by such a behemoth.”

Čítaj viac
Republic of Palau and Cryptic Labs launch digital residency program

Republic of Palau and Cryptic Labs launch digital residency program

Uverejnil používateľ | jan 12, 2022 |

The Republic of Palau and blockchain development firm Cryptic Labs announced the launch of the Root Name System (RNS), a digital residency program on Tuesday.To inaugurate the partnership between Palau, Cryptic Labs and the sovereign-backed digital residency program, Palau’s President Surangel S. Whipps Jr. signed an agreement to grant “all global users” digital residency through the RNS under the country’s Digital Residency Act.The Republic of Palau is located in the western Pacific Ocean and consists of about 340 islands inhabited by 18,221 residents. President Whipps said:“Our Digital Residency Program will have capacity for internationally recognized standards of identity verification to ensure that Palau upholds the rule of law and our reputational integrity. We welcome all global citizens to apply to participate in Palau’s digital residency program.”The digital residency program provides a blockchain-based legal ID, digital residency to democratize access to global business opportunities, and geography-agnostic governance to aid in remote corporate formation and operation. It also allows users to gain an address, shipping services and digital signature verification. By using RNS, the digital residency program boasts end-to-end encryption which lets users control how much location and ID data they want to share with others. Once approved, users will receive a physical ID card and an ID as a nonfungible token (NFT). This will be used to facilitate “secure ID verification and access to KYC functions and forms the foundation for legal ID and verification on-chain.”Bril Wang, CEO of Cryptic Labs said in the announcement,“This partnership with The Republic of Palau will revolutionize economic development both in Palau and around the world. The world is beginning to recognize the practicality, versatility, and truly transformative power of digital identity — this is a swift step towards that future.” Applicants for digital residency can apply by creating an account and paying with their credit card or with cryptocurrency. Related: Blockchain enables enterprise business models in the MetaverseThe Digital Residency Program marks the second major foray in blockchain adoption that Palau has taken. In Nov. 2021, the West Pacific island nation announced a partnership with fintech firm Ripple (XRP) to develop an environmentally-friendly digital currency to assist in cross-border payments.

Čítaj viac
Animoca Brands’ Lympo NFT platform hacked for $18.7 million

Animoca Brands’ Lympo NFT platform hacked for $18.7 million

Uverejnil používateľ | jan 11, 2022 |

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 single address, swapped for Ether (ETH) on Uniswap and Sushiswap, then sent elsewhere. LMT price tumbled 92% to $0.0093 after hackers transferred then sold the loot from the project’s hot wallets. A subsequent Jan. 11 tweet from the team stated that they were “working on stabilizing the situation and resuming all operations back to normal.” The team also stated that it had removed liquidity LMT from liquidity pools to “minimize disruption to token prices.” #Lympo provides an update on the $LMT token slippage and hacking that occurred on January 10th at approximately 12:32 pm UTC. We’re working on stabilizing the situation and resuming all operations back to normal.https://t.co/i07w5zoOwW@animocabrands— Lympo.io – Crypto Community (@Lympo_io) January 10, 2022Removing liquidity from pools that trade LMT means that traders will not be able to buy or sell any significant amount of the tokens without experiencing a dramatic loss of value on their trade. Early on Jan. 11, the team urged traders to refrain from buying or selling any LMT tokens while they completed their investigation and determined the next best course of action.As a subsidiary property of Animoca Brands, Lympo may benefit from intervention from the Animoca team. Animoca CEO Yat Siu told Cointelegraph, “We are working with Lympo to assist them on a recovery plan, but we don’t have any specific mechanisms.”The second hot wallet hack this weekCentralized crypto exchange LCX also suffered from a security breach on one of its hot wallets, leading to the loss of nearly $7 million on Jan. 8. In this case, the hacker made off with stacks of eight different crypto assets.LCX lost varying amounts of MKR, ENJ, LINK, QNT, SAND, ETH, LCX, and USDC. The majority of the funds were converted to ETH then sent to Tornado Cash, a privacy tool designed to hide the source and destination of ETH.Related: ImmuneFi report $10B in DeFi hacks and losses across 2021The LCX team released an update on Jan. 10 assuring users that they would be compensated for the losses incurred and that no personal data was compromised during the attack. The team wrote:“LCX will use our own funds to cover the incident and compensate affected users. There will be no impact on user balances at LCX.”

Čítaj viac

Získaj BONUS 8 € v Bitcoinoch

nakup bitcoin z karty

Registrácia Binance

Burza Binance

Aktuálne kurzy