Day: December 4, 2023

Riot purchases BTC miners worth $290M from MicroBT

Riot has announced its largest hash rate purchase with 18 EH/s supply from MicroBT.
The 66,560 latest generation M66S model BTC miners will cost $290.5 million.
Riot stock price rose following the news, trading to above $15 on Monday, December 4.

Bitcoin mining company Riot Platforms, Inc. (NASDAQ: RIOT), has announced the purchase of over 66k miners from Bitcoin mining hardware manufacturer MicroBT.

The purchase adds to the 33,280 miners Riot secured in an earlier agreement. It is the company’s largest so far, Riot CEO Jason Les said in a press release.

Riot purchases 18 EH/s of miners from MicroBT

According to the mining firm, the new order is for 66,560 of MicroBT’s M66S model, a recently announced miner boasting an efficiency rating of 18.5 Joules per terahash. The total cost for the miners will be $290.5 million, with the average price per TH at approximately $16.

Riot also said it had updated its long term purchase agreement with MicroBT, which gives the miner the option to acquire up to 265,000 additional miners. These purchases will bear the same terms as the newly announced order.

The price of these future purchase options will not exceed our current order as announced today, giving Riot the ability to more effectively plan future capital requirements and providing protection from potentially higher market prices for miners in the future,” Les noted.

Deployment of the 33,280 MicroBT miners will happen in the first quarter of 2024, while delivery for the just announced batch will begin in the second half of next year. Riot expects the two orders to be fully delivered in the second half of 2025, with the company’s total self-mining hash rate surpassing 38EH/s.

If Riot completes the future purchases, it would acquire an additional 75 EH/s and see its self-mining capacity rise to over 100 EH/s.

RIOT price jumps as Bitcoin soars above $40k

News of Riot’s strategic purchases and expansion plans appears to have buoyed investors. As of Monday afternoon, the mining company’s stock price was up 8% on the day and nearly 24% in the past week.

RIOT was up 345% year-to-date at $15.07. However, it remains down on July 2023 highs above $20 and all-time high above $79.50 reached in February 2021. While the current price is significantly down on the ATH, the bullish outlook for Bitcoin could see RIOT rally higher.

On Monday, Bitcoin price reached highs of $42k for the first time since April 2022.

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BC.GAME Honored with the “Best Casino Operator 2023” Award from SiGMA

Malta, November 15, 2023 – BC.GAME, a leading innovator in online gambling, proudly announces its recognition with the prestigious Best Casino Operator 2023 award by SiGMA. This esteemed accolade, presented at the SiGMA Europe 2023 event, marks BC.GAME’s distinguished standing among the world’s top online casinos. The award celebrates BC.GAME’s commitment to excellence in providing engaging and responsible gaming experiences. 

The Best Casino Operator 2023 award by SiGMA is a respected honor within the online gambling industry, recognizing operators that exhibit unparalleled innovation, customer service, and operational excellence. It is bestowed upon a casino that consistently redefines the boundaries of online gaming, setting new standards for the industry. BC.GAME’s triumph in securing this coveted prize underscores its position as a frontrunner in shaping the future of online gaming. 

Steven, the Co-founder of BC.GAME, expressed his gratitude for this achievement, stating, “Receiving the Best Casino Operator 2023 award from SiGMA is a great honor for us. This award is an affirmation of the efforts BC.GAME has made in delivering exceptional services, and it certainly motivates us to enhance our service to players further.” 

BC.GAME’s exceptional standing in the competitive online gambling landscape is attributed to its unwavering commitment to innovation and technological advancement. The platform’s seamless integration of blockchain technology has revolutionized the gaming experience, fostering enhanced security and transparency while upholding the highest industry standards. This relentless pursuit of excellence has propelled BC.GAME to the forefront of the industry. 

About BC.GAME 

BC.GAME stands as an epitome of innovation and excellence in the online gambling domain. Driven by a passion for providing innovative solutions, BC.GAME cultivates a secure, fair, and professional service environment for its players. 

Embracing cutting-edge blockchain technology, BC.GAME ensures the pinnacle of security and fairness for its users, setting a new benchmark for the industry. 

With this prestigious award under its belt, BC.GAME is poised to continue revolutionising the online gaming landscape, setting new standards for innovation, responsible gaming, and player satisfaction. As BC.GAME embarks on its next chapter of growth, it remains unwavering in its dedication to providing unparalleled gaming experiences for its global community of players.

Stay up to date with BC.GAME by following them on Twitter, Telegram, Facebook, and LinkedIn.

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Jellyverse secures $2 million seed round to build DeFi 3.0

DeFiChain-based Jellyverse raises $2 million from private investors to build its ecosystem.
The funding was secured in a seed funding round by Jelly Labs AG and Fintonomy LTD.
Jellyverse will feature protocols such as a DEX, staking protocol and stablecoin.

Jellyverse, a decentralised finance (DeFi) ecosystem built on the EVM-compatible layer-2 DeFiMetaChain (DMC), has secured a $2 million capital injection from private investors.

The seed round was raised by Jelly Labs AG and Fintonomy LTD, the two companies helping develop the Jellyverse. This DAO-governed ecosystem has JLY as the native token.

Jellyverse secures $2 million funding

According to details in a press release shared on Monday, Jelly Labs AG and Fintonomy LTD will utilise the financing to support the DeFi 3.0 platform’s development.

Specifically, the developers aim to advance DeFi adoption with integration of real-world assets and real-world price feeds. Initiated by the DeFiChain Accelerator core team, Jellyverse’s DeFi 3.0 products including decentralised portfolios, bonds, lending and staking are aimed at this goal.

Jellyverse merges the pinnacle of past DeFi achievements with a fresh perspective. We present decentralised assets that pioneer a novel way to diversify your crypto portfolio, complemented by self-balancing multi-token pools,” Santiago Sabater, the co-initiator of Jellyverse, noted in a statement.

Jellyverse ecosystem to include a DEX, staking protocol and stablecoin

Jellyverse has several protocols under development. These include JellySwap, a decentralised exchange (DEX) built on Balancer; JellyStake,  a decentralised staking protocol; and jUSD, a stablecoin that allows users to borrow against DFI, dETH, the native Jellyverse token JLY as well as other cryptocurrencies.

The Jellyverse ecosystem will also feature jAssets and JellyBond. jAssets will be a protocol for crypto-backed user-generated tokens that will allow ecosystem participants to diversify their crypto portfolios via exposure to traditional financial markets. In this case, jAssets will reflect the prices of stocks, commodities and exchange-traded funds (ETFs), leveraging real-time price feeds.

JellyBond on the other hand is the protocol that bonds the stablecoin jUSD and jAssets, allowing users to earn yield on their tokens.

Jellyverse’s entry into the market could align with fresh momentum for the DeFi sector, which is showing resurgence amid bull market upside. The total value locked (TVL) was over $180 billion in November 2021 and fell to below $36 billion in mid-October this year.

According to DeFiLlama, the total TVL for all chains has risen to nearly $50 billion as the crypto market records a resurgence in prices.

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Top crypto picks to buy at rising market before it’s too late

A new and promising crypto, ScapesMania, has witnessed impressive presale success.
Ethereum is poised for growth with potential regulatory advancements like an ETF while Solana is the 5th most-traded cryptocurrency, stable and growing.
Polygon is resilient and attracts investments, Dogecoin balances community projects amid market fluctuations, and Shiba Inu faces uncertainty due to whale transactions and a bearish outlook.

The cryptocurrency market is currently experiencing a significant upswing, with Bitcoin (BTC) crossing the $42,000 mark, signaling a broader market recovery. This resurgence is not just limited to the flagship cryptocurrency but is also evident in the performance of other players.

Today, we’ve put together our 6 top picks for investors looking to capitalize on the rising market before it’s too late: Ethereum (ETH), Solana (SOL), Polygon (MATIC), Dogecoin (DOGE), Shiba Inu (SHIB), and the emerging ScapesMania. These coins have the potential to yield significant returns and showcase substantial growth.

Let’s take a closer look at each coin.

Growth factors behind promising coins

ScapesMania: features and vision

ScapesMania is an innovative crypto project currently in the presale phase. Amidst the volatility experienced by larger cryptocurrencies, it offers a unique opportunity to diversify your portfolio. 

Upon closer examination, ScapesMania reveals a range of appealing features. By embracing ScapesMania, crypto enthusiasts get a chance to engage with a unique ecosystem thriving within a multi-billion-dollar gaming industry. 

Furthermore, ScapesMania has implemented mechanisms to keep holders actively involved and incentivized. By participating in DAO governance, backers have a say about ScapesMania’s future direction. Other notable perks for holders include up to $142 in bonuses for early adopters, token buyback and burn mechanisms, and staking rewards.

As for safety, the project’s smart contract has undergone a thorough audit by leading security-ranking companies. ScapesMania is backed by an award-winning team that has secured a prestigious grant from a major player in the blockchain industry.

Visit ScapesMania’s website for more information about its standout features.

Ethereum: regulatory developments and market Impact

Ethereum price chart

 

Ethereum is currently experiencing a noteworthy development related to regulatory matters and market dynamics. The United States Securities and Exchange Commission (SEC) is actively engaged in discussions regarding a proposed rule change. 

This change, if approved, would enable Fidelity Investments to offer shares of its spot Ethereum (ETH) exchange-traded fund (ETF). 

Fidelity’s latest SEC filing outlines its ETF’s objective to monitor Ether’s performance using the Fidelity Ethereum Index. If approved, the ETF, trading as ETHF on the Cboe BZX Exchange, may mark a pivotal moment in Ethereum’s broader adoption.

Solana: climbing the ranks in the crypto market

Solana price chart

Solana has recently achieved a significant milestone. As of now, it’s the 5th most-traded cryptocurrency in the world. This achievement indicates a rising trend in its adoption and a growing interest from traders and investors. 

Furthermore, Solana’s blockchain has experienced positive developments. Among notable achievements are inclusion in Visa’s stablecoin trials, a rise in total value locked, and maintaining around nine months of continuous uptime. 

These factors enhance Solana’s presence and credibility in the market. Ultimately, investors can expect an ongoing upward trend in SOL’s price performance.

Polygon: navigating through market volatility

Polygon price chart

MATIC underwent a significant price correction recently, drawing considerable interest from prominent investors commonly known as “whales.” 

Capitalizing on the dip in Polygon’s price, these large-scale investors seized the opportunity and injected a substantial $90 million into acquiring MATIC tokens. This influx of funds suggests a strategic move by major players in response to the recent price fluctuations in the Polygon market. 

Major backers continue to play a pivotal role in shaping the asset’s value amidst dynamic market conditions in the Polygon ecosystem. So, keeping an eye on the movements of these whales remains crucial. 

Dogecoin: aiming for the moon

Dogecoin price chart

The Dogecoin community has embarked on an ambitious mission to send a physical token to the moon, reflecting the coin’s playful and pioneering spirit. This endeavor coincides with a significant technical development in Dogecoin market behavior. 

DOGE’s price recently broke out from a long-term descending resistance trend line, which had been in place for 900 days. 

Furthermore, the number of total crypto wallets holding DOGE reaches 5 million. These dynamics indicate the growing adoption and increased user activity within the blossoming Dogecoin network.

Shiba Inu: whale transactions and network developments

Shiba inu price chart

Shiba Inu recently underwent a substantial transaction involving the transfer of 300 billion SHIB tokens to an anonymous wallet. Notably, this transfer originated from the popular cryptocurrency exchange Binance. 

The occurrence of this transaction has generated curiosity and speculation within the crypto community, driving investors’ interest in the token. However, it’s not the only growth factor behind Shiba Inu.

Shiba Inu’s advancements, such as the launch of Shibarium, aim to enhance transaction efficiency and reduce costs. These developments can further increase SHIB’s appeal for decentralized finance use cases.

Current state and prospects

ScapesMania: ambitious future vision

The ScapesMania presale unfolds in several rounds, with the current one presenting a substantial 70% discount on token purchases. This discounted entry point provides an attractive incentive for early adopters, offering potential ROIs of 400-500% as the post-listing price hits the $0.1 mark.

Looking ahead, ScapesMania’s ambitious vision includes listings on major exchanges and continuous improvements. The team is on a mission to develop a unique niche concept not yet explored in crypto circles. This forward-thinking approach contributes to the outstanding presale figures, positioning ScapesMania as one of the potential long-term assets for crypto enthusiasts.

With its visionary roadmap and current presale offerings, ScapesMania could be a worthy bet for those seeking a foothold in the crypto space. To dig deeper into ScapesMania’s proposition, visit its official website, Twitter account, and Telegram channel.

Ethereum: potential impact of US ETF

The prospect of an Ethereum ETF in the U.S. market could lead to increased institutional interest and investment in Ethereum. The anticipation of such developments could create a bullish sentiment among investors, potentially driving up the price of ETH.

Crypto enthusiasts eagerly await SEC approval for ETFs, given the SEC’s historical reluctance, often citing market manipulation concerns. Optimists believe that ETFs holding major cryptocurrencies could significantly transform the market by facilitating mainstream investors’ entry into digital assets.

The future of Ethereum looks promising with the potential approval of an ETF. However, the SEC’s history of caution in approving spot cryptocurrency ETFs suggests that the road ahead may not be smooth. 

Solana: stable growth amid volatility

The price situation of SOL is currently stable, showing signs of steady growth. The stability in its price, despite the volatile nature of the cryptocurrency market, is a positive sign for investors looking for a relatively less volatile asset.

Looking ahead, the future of Solana appears bright, with its rising adoption and stable price situation. The increasing interest from traders and its position as one of the most-traded cryptocurrencies could lead to further growth in its value. 

Solana’s price surged by approximately 550% this year, emphasizing its strong network. Given Solana’s remarkable performance and robust infrastructure, it holds the potential to extend its ascent.

Polygon: resilience and whales’ interest

The price of MATIC has shown resilience in the face of volatility. After a retracement from its peak, MATIC has managed to rebound from its recent lows, retaining a substantial portion of its monthly gains with an overall 20% increase within the evaluated period. 

At the same time, Polygon is seeing a rise in the MATIC exchange reserve. This signal indicates increased net deposits possibly driven by profit-taking motives.

The future of Polygon appears to be on a recovery path. The network’s heightened activity and continued interest from influential whales contribute to the optimism surrounding Polygon MATIC

Dogecoin: fluctuations and bullish signals

The price of Dogecoin DOGE has seen fluctuations since reaching a high of $0.087 on November 17. The decrease caused a deviation above the $0.082 horizontal resistance area. 

The future of Dogecoin seems to be a blend of optimism and caution. The weekly timeframe suggests a bullish trend, while the daily timeframe indicates the potential for a retracement before a possible increase. 

Considering the high levels of adoption and usage, the odds are certainly looking in favor of the bulls. Still, if DOGE manages to close above the $0.082 resistance area, it could signal a bullish takeover, potentially leading to a significant price increase. 

Shiba Inu: a rebound potential

The technical analysis of the SHIB price chart shows a descending triangle formation, with a recent break below the lower trendline, suggesting a bearish outlook. However, the price is hovering above a crucial support level, with the 50-day moving average potentially acting as a springboard for a rebound.

The future of Shiba Inu is shrouded in uncertainty. If the wallet’s accumulation strategy positively influences market sentiment, we could see an upward price correction. However, the bearish indicators and unpredictability of large-scale transactions make it challenging to forecast SHIB’s prospects. 

Investors are keenly anticipating Shiba Inu to surpass the $0.01 mark, aiming for the significant milestone of $1. Despite this optimistic outlook, reaching the price of $1 doesn’t look realistic. The Shibarium layer-2 network’s lack of burning trillions of SHIB adds complexity to the token’s growth.

Bottom line

In this dynamic phase of the cryptocurrency market, these six coins represent a blend of established reliability and exciting potential. Ethereum and Solana continue to demonstrate stability and growth, Polygon and Dogecoin offer a mix of stability and innovation, while Shiba Inu presents an opportunity for those willing to navigate its uncertain waters. 

Meanwhile, ScapesMania emerges as a dark horse, offering potentially high returns and an opportunity to save big for early adopters. This affordability opens doors for investors with varying budget sizes to explore ScapesMania without significant financial commitments.

Discover more details about ScapesMania on the official site.

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LandX Closes Private Round Securing $5M+ In Private Funding

Dubai, UAE, December 4th, 2023, Chainwire

After two years in development LandX, the agricultural finance protocol, successfully closed its private investment round surpassing expectations. The round raised over $915,000 USD from private investors which brings the total raised to over $5 million USD. The milestone marks a significant vote of confidence in the potential for LandX to bring real world assets on-chain.

Public Round Starts

Following this the project is set to go live this week with its public round, presenting a broader audience with the opportunity to secure an allocation of the LNDX governance token. The public sale is being launched on a first come first served basis with a limited supply of 3,000,000 tokens priced at $0.50 USDC.

The LandX community will be given priority access from the 4th of December, then any remaining tokens will be opened up to the general public from the 10th of December.

Public Sale: Starts Monday 4th December

Omega Sale: Monday, 4th December
Alpha Sale: Thursday, 7th December
Public Sale: Sunday, 10th December
Public Sale Closing: Wednesday, 13th December

LNDX Listing on multiple exchanges: Thursday, 14th December

Platform Official Launch: On Friday, 15th December users will be able to experience the full potential of LandX’s innovative agricultural finance platform

A New Chapter Begins

The public round enables anyone with an Ethereum wallet to allocate capital and invest in LNDX tokens. This move is aligned with LandX’s vision of democratizing access to agricultural financial products through blockchain technology.

LandX is the first project to bring agricultural commodity assets and tokenized farmland into the decentralized finance ecosystem. Through an innovative product known as xTokens LandX will create inflation-hedged, uncorrelated digital assets which can be traded 24/7 on decentralized exchanges.

The LNDX token is at the heart of the LandX platform, designed to foster a sustainable and efficient agricultural finance ecosystem. When staked the token holder can earn a share of the platform fees and participate in governance decisions. There is a limited distribution of the LNDX after launch with private sale investors locking their tokens for 3-12 months and seed investors voluntarily locking their tokens for 48 months. This in combination with the $500,000 guaranteed capital deployment in the decentralized exchange liquidity pools providing a unique opportunity in the fastest-growing sector in decentralized finance.

How to Participate

Investors outside the US and other restricted regions who are interested in the public round can connect with the LandX team on Discord, Telegram or visit the LandX website for more information on how to participate.

“We would like to thank our amazing community for giving us the opportunity to bring this vision to life. It is with your support, trust and feedback that we will shape the future of agricultural finance” – LandX Spokesperson

Users can find more information about LandX, the LNDX token and the public round at https://landx.fi/

About LandX

Bridging the agriculture financing gap, LandX provides upfront capital to farmers in return for a percentage of their future harvests. The financing is secured by the underlying farmland, offering investors a potential opportunity to earn sustainable yield backed by tangible assets.

 

Contact

Press Relations
LandX Finance
info@landx.fi

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Crypto.com granted UK E-Money License by FCA

Crypto.com achieves FCA approval.
The license empowers crypto.com to introduce UK-localized e-money products.
The series of approvals underscores the exchange’s responsible innovation in the rapidly evolving cryptocurrency market.

Singapore-based cryptocurrency exchange, Crypto.com, has achieved a significant milestone by securing an Electronic Money Institution (EMI) license from the UK’s Financial Conduct Authority (FCA).

This move allows the exchange to introduce UK-localized e-money products, ensuring compliance with stringent FCA consumer protection standards.

We are proud to announce that https://t.co/vCNztATSCO has been authorised as an Electronic Money Institution (EMI) by the UK’s Financial Conduct Authority (FCA), building on our position in the UK market.

Full details:https://t.co/r9lKtF1nkX pic.twitter.com/FMywky63yL

— Crypto.com (@cryptocom) December 4, 2023

Crypto.com, serving over 80 million users globally, continues its strategic expansion, emphasizing regulatory compliance in various jurisdictions.

Crypto.com’s E-Money License and UK expansion

Crypto.com’s recent authorization as an EMI by the FCA signifies a pivotal step in the exchange’s commitment to the UK market. The license empowers Crypto.com to offer a range of e-money products tailored for the UK audience, acting as a digital substitute for traditional fiat currency.

The UK license follows the exchange’s earlier registration as a cryptoasset business in August 2022, enabling the provision of diverse products and services to its UK clientele while complying with local regulatory standards. The CEO, Kris Marszalek, expressed the company’s dedication to the UK market and stressed the importance of collaborating with the FCA for responsible innovation in the crypto space.

Crypto.com’s global regulatory pursuit

Crypto.com’s pursuit of regulatory approvals extends beyond the UK. In November 2022, its Dubai branch secured a Virtual Asset Service Provider (VASP) license, enabling the exchange to offer services such as exchange, broker-dealer, management, investment, lending, and borrowing in Dubai. Earlier, in June 2023, the exchange finalised its registration in Singapore and registered as a VASP with the Bank of Spain, allowing it to offer compliant products and services in Spain, adhering to anti-money laundering directives and financial crime laws.

These regulatory milestones underscore Crypto.com’s dedication to compliance and user protection as it navigates the dynamic cryptocurrency market. The strategic acquisition of licenses across diverse jurisdictions reinforces the exchange’s position as a global player committed to regulatory standards and responsible innovation in the evolving crypto landscape.

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ORDI hits new all-time high as Bitcoin breaks above $42k

ORDI (ORDI) price hit a new all-time high of $44.03 early Monday as Bitcoin touched $42,000.
The uptick in ORDI price comes amid rising total inscriptions on the Bitcoin network.
ORDI could trade high if BTC continues on a bullish trajectory.

As Bitcoin price rallied to above $42,000 early Monday, the BRC-20 token ORDI (ORDI) was hovering at $44, a new all-time high for the Bitcoin Ordinals token. 

This came amid a 35% surge in the 24 hours, an upside that saw ORDI extend its gains over the past week to over 111%. On December 4, the token’s value was more than 550% up.

ORDI spikes as Bitcoin hits $42k

ORDI’s massive price gains over the past few weeks have had a catalyst in the shape of Bitcoin’s rally. Over the weekend, BTC broke above the $40,000 level and like in the past several days, the upside reflected in the price of ORDI.

The token crossed the $24 hurdle on Saturday and after retesting the $33 area on December 3, extended higher to hit the all-time high of $44.03 early Monday. A look at the Bitcoin chart shows the benchmark cryptocurrency cross to its new year-do-date high price of $ 42,155 on Monday. Notably, BTC was traded at around $36,770 at the start of last week.

Analysts are bullish on Bitcoin going into next year, and with this outlook comes the possibility that ORDI could go on a vertical hike too. This forecast is informed largely by the increased pace of inscriptions within the Ordinals protocol.

ORDI makes up the largest share of these texts, images and such other features on Bitcoin, and as BTC rises, the BRC-20 token is likely to follow. This is the case with Bitcoin transactions fees rising, with data showing (in the above chart) that there have been over $46 million total inscriptions as of December 4, 2023.

While a retreat across the market could see ORDI’s price also decline, a return to the upward trajectory could well continue to track Bitcoin’s bullish outlook.

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Chromia Confirms Mainnet Release In 2024

Stockholm, Sweden, December 4th, 2023, Chainwire

Chromia confirms mainnet launch in 2024, highlights key features, and roadmap updates outlining the project development goals.

Chromia, a relational blockchain platform designed for decentralized applications, has officially announced its mainnet launch, scheduled for 2024. The project has released an updated roadmap, which can be found on their official channels and website’s roadmap page.

Chromia was co-founded by CEO Henrik Hjelte, COO Or Perelman, and CTO Alex Mizrahi, aiming to deliver a ‘relational blockchain’ architecture on a publicly available network. The technology, pioneered by the Swedish-based company ChromaWay, combines the efficiency of a relational database with the secure and permissionless nature of blockchain.

Chromia’s vision and scope expanded its initial role as a standalone platform, incorporating interoperability features with Ethereum and other EVM chains. The team’s dedicated efforts have resulted in the creation of modular Layer-1 and Layer-2 solutions.

The development timeline of the chain was extended as the team dedicated their time to building robust user experiences such as Web 3 gaming “My Neighbour Alice” and “Mines of Dalarnia” with established tokenomics and substantial user bases.

Commenting on the Chromia mainnet launch, Henrik Hjelte, CEO of Chromia, said, “It took us, founders, 10 years to build the technology we believe can make an impact on the world at large. To make public decentralized applications go mainstream, you need a comprehensive feature set and ease of use. Chromia’s mainnet is poised to launch with powerful features encompassing modularity, EVM interoperability, relational database architecture, and on-chain file storage. I’m proud of the Chromia batteries-included approach, and I’m sure that developers will love the new elegance and productivity we bring to crypto”.

The project’s roadmap outlined the remaining development goals, primarily focused on Chromia-based tokens, bridging assets from EVM chains, and a native fee system. Additionally, significant effort has been dedicated to preparing necessary utilities for end users and developers, including an official wallet, a block explorer, and extensive technical documentation and tutorials.

The project’s ecosystem is beginning to exhibit early signs of growth, evidenced in their ‘Shared Appnet,’ an early production environment for decentralized applications (dapps). This network is already powering several projects, including a digital collectibles marketplace from German football club VfB Stuttgart and the fashion brand BLK DNM’s ‘Connected Fashion’ technology.

The updated roadmap is available on Chromia’s website.

Users can stay connected with Chromia and get the latest updates from the following official Twitter: https://twitter.com/Chromia

About Chromia

Chromia is a blockchain platform that provides scalable, secure, and developer-friendly solutions for decentralized applications. Their relational blockchain technology is designed to support high performance, low cost, and ease of use for developers and end-users.

 

Contact

Fati Hakim

ChromaWay

pr@chromia.com

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Standard Chartered Zodia integrates Ripple-owned Metaco’s crypto storage services

Zodia Custody, backed by Standard Chartered Bank, integrates Metaco’s crypto storage.
The move is aimed at enhancing global sub-custody services for cryptocurrencies.
The collaboration reflects the third generation of crypto custody, linking multiple custodians for secure and compliant management of digital assets.

In a strategic move to enhance global sub-custody services for cryptocurrencies, Zodia Custody, backed by Standard Chartered Bank, has integrated Metaco network’s crypto storage services.

This collaboration aims to redefine crypto custody and settlement processes, resembling traditional finance models. The move comes amid increasing demand for secure digital asset storage and reflects the evolution of the crypto industry.

Zodia Custody’s partnership with Metaco

Zodia Custody’s integration of Metaco network’s crypto storage services is designed to offer global sub-custody services for cryptocurrencies, enabling Metaco to store client funds securely and facilitate efficient fund management. CEO Julian Sawyer emphasizes the evolution of crypto custody into a third generation, where multiple custodians are interconnected.

This integration aligns with Zodia’s expansion, having recently extended its services in Hong Kong in response to rising institutional demand.

Metaco’s role and industry dynamics

Swiss-based firm Metaco, now under Ripple’s ownership following a $250 million acquisition earlier this year, leverages Ripple’s scale and market strength. The collaboration with Zodia Custody aims to accelerate reaching clients and providing advanced crypto storage solutions.

Notably, as the crypto industry grapples with trust and transparency issues, the integration of Metaco’s services into Zodia Custody signifies a crucial step in addressing these concerns. This move also aligns with broader industry trends, as evidenced by HSBC’s plans to launch a custody service in 2024, excluding cryptocurrencies, in partnership with Metaco.

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Mantle launches liquid staking protocol on Ethereum Mainnet

Mantle’s liquid staking protocol (LSP) launched on the Ethereum blockchain.
The launched LSP is a non-custodial liquid staking protocol.
The Mantle liquid staking protocol is governed by its decentralized autonomous organization (DAO).

Decentralized autonomous organization Mantle has introduced a groundbreaking liquid staking protocol on the Ethereum mainnet. This move follows a successful deployment of a Layer 2 network and aims to provide users with a new method of participating in-network staking.

Mantle’s approach addresses concerns about the concentration of staked assets in major providers like Lido, Coinbase, and Binance, offering an alternative solution through their liquid staking derivative, Mantle-staked ether (mETH).

Mantle’s liquid staking protocol on Ethereum

The liquid staking protocol (LSP) launched by Mantle on the Ethereum mainnet is a non-custodial protocol that allows users to deposit ETH and engage in network staking via validator nodes while receiving Mantle-staked ether (mETH) as a token reflecting their stake.

Mantle’s LSP began its journey with the deployment of mainnet contracts in an exclusive alpha phase in October, subsequently transitioning to a permissionless phase to broaden access and participation. This innovative protocol is governed by the Mantle decentralized autonomous organization, emphasizing a community-driven approach to decision-making.

Addressing stake concentration with mETH adoption

One of the primary motivations behind Mantle’s liquid staking protocol is to tackle the concentration of ether stakes within major providers such as Lido, Coinbase, and Binance. According to Jordi Alexander, Chief Alchemist at Mantle, the concentration issue results from a feedback loop of increasing name recognition and use case.

To counter this, Mantle is focusing on the adoption of Mantle-staked ether (mETH) in the Liquid Staking and DeFi (LSDfi) ecosystem. The protocol aims to contribute to the solution by providing users with more options and enhancing capital efficiency to maintain sustainable yields. The Mantle DAO, empowered by the approval of governance proposal MIP-25 in August, has decided to stake ether from its treasury, adding to its existing $80 million in ETH staked with Lido Finance.

As a significant player in the crypto space, with assets totalling $470 million in ether and over $200 million in stablecoins, Mantle’s strategic approach to liquid staking marks a pivotal development in the ongoing evolution of decentralized finance on the Ethereum network.

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