Introduce potential NFT projects

NFT stands for Non-Fungible Token, a unique token used to identify goods and assets. Because of this unique nature, it can become an authentication tool in the internet world, and the potential of this technology is immense. However, in the present, it is difficult to exploit them all. Only a few areas with the right specificity could quickly apply this technology. In this article, let us explore the potential of NFT.

Potential of NFT

Game

Game is one of the leading areas in the NFT. By playing video games players can earn valuable items. Tokens will be authenticated and identified against all of the game participant’s items.

Users can take advantage of their gaming prowess and generate real income. Items can be sold and purchased weapons, vehicles, characters. It depends on the game and there are different rules and gameplay.

In addition, NFT in the game world allows players to easily trade items with each other. This is a rare function on the market.

Art

Before blockchain technology, verifying works of art gave artists a headache. With blockchain, every artwork when transacting will be counterfeited, ensuring neither side can change the details of the artwork. This enhances the transparency of the origin and the trust between the buyer and the seller.

Identity management

Identity management is an indispensable need of governments. With the need to securely store digital data increasingly in the world, NFT can hold unique information about a particular asset. This could include any kind of data such as medical history, property details, personal records, education level, and financial information.

Communication and content creation

In the field of media and content creation, piracy, copyright and plagiarism are significant challenges. It affects the growth of the media and entertainment industry. NFT could use blockchain technology to prevent such fraud. This makes reproducing ideas and creative work impossible.

Real estate

The traditional real estate industry has a very cumbersome procedure. With the NFT, the entire process will be digitized. Assets can be encrypted on the blockchain network and divided into tokens. These tokens are tradable and easily exchangeable on secondary markets. This eliminates the role of middlemen such as brokers, brokers, banks, and agents. It also prevents any disputes over property ownership between any party.

Potential NFT projects

CryptoKitties

This is a game built on the Ethereum platform. It allows users to collect and breed virtual cats. These digital cats are distinguished in appearance and traits. It is considered their “attribute”. Given the nature of these tokens, each digital cat represented by the NFT cannot be copied, destroyed, or taken away.

To start breeding digital cats, users need to deposit ETH into the game’s official wallet, Dapper. There are two ways to breed a new kitten. One is to breed two of your own kittens, if you do not have two, you can use Public Sire. Second, buy the first kittens on the market.

CryptoKitties was the first NFT protocol to get major attention in late 2017. Since users can breed rare cats and resell new kittens for a profit, the game has attracted considerable attention. Currently the “boom period” of CryptoKitties has passed, but the game still retains a strong attraction in the NFT space.

Decentraland

Backed by Ethereum, Decentraland is a decentralized virtual world. It allows users to buy and sell real estate and participate in the process of building virtual worlds.

In the game system Decentraland requires both fungible token and non fungible token. MANA is the digital currency used on the Decentraland market. MANAs can be purchased from any supported cryptocurrency exchange. In addition to the Decentraland marketplace, users can purchase items supported on the NFT marketplace like OpenSea.

Decentraland calls on users to participate in the administrative process. Users can vote on administrative recommendations and their voting rights come from a variety of sources. Maybe for example MANA, land, resources in the game. Topics are voted on regarding new features, transaction fees, equipment in the Decentraland world.

Rarible

Rarible is an NFT marketplace founded by Alexander Salnikov and Alexei Falin in January 2020. It specializes in buying and selling rare digital collections. Rarible supports a wide variety of digital assets. Some examples are: digital art, domain names, DeFi insurance policies, meme and metaverses.

In use, users can upload collections in any supported digital format (graphics, sound). Then add a description and pricing details. As a next step, users need to connect to their Ethereum wallet to approve transactions.

Rarible has gained widespread popularity in the crypto community due to its token. It is RARI. The launch of RARI is the first step towards Rarible’s ultimate goal. That is the establishment of the decentralized organization Rarible. As RARI holders, users can submit and vote on system upgrade proposals. These include decisions regarding Rarible’s transaction fees and the addition of new features. Similar to Decentraland.

SuperRare

SuperRare is a digital arts marketplace founded in 2017 by John Crain. At SuperRare, artists can code and monetize unique artwork. Every piece of art on SuperRare is represented by an ERC-721 token.

When artists release authenticated digital artwork on SuperRare, their artwork gets certified on the Ethereum network. This prevents tampering and provides historical origins. Additionally, artists can showcase their artwork in SuperRare using virtual reality galleries.

Art collectors, on the other hand, can purchase artwork on SuperRare. Also resell NFT on secondary markets, such as OpenSea. All transactions on SuperRare are done using Ethereum. Buyers then need to pay a 3% transaction fee on all purchases.

Similar to traditional art galleries, SuperRare also charges fees from artists. For primary sales, artists receive 85% of sales, while SuperRare holds 15%. For extra sales, the artists receive 10% of the royalties.

Ethereum Name Service

Founded by the Ethereum Foundation in May 2017, Ethereum Name Services is an open, decentralized, and scalable naming system based on Ethereum. “.ETH” domains are unique and cannot be changed. It is represented by ERC-721 compliant NFTs and they are available to buy and trade on NFT markets like OpenSea and Rarible.

Since these domains comply with the ERC-721 NFT standard, they can also seamlessly connect to NFT markets and wallet interfaces, enhancing NFT and DeFi integration.

Epilogue

The potential of NFT is indisputable. Another aspect of this technology is the NFT marketplace. These markets are developing and improving more and more. That gives traders another promising investment channel.

Things to know about Standard Protocol (STND)

Standard Protocol is Polkadot’s pioneering protocol in accepting the collateralized Rebasable Stablecoin (CRS) for synthetic assets.

1. Issues of Algorithm in Current Stable Coins

Stable Coin is focused on stability compared to fiat without interoperability

The current algorithm stable coins focus only on maintaining automatic price stability. Although they provide some interoperability between tokens with their initial distribution via yield farming, there is no way for them to interact in sustainable financial operations.

The current oracles are centralized and do not have a decentralized ecosystem to reward them

There is currently no reward system for oracle vendors and solutions are controlled by validators or companies themselves. Joining the Dex exchange has disadvantages compared to the Cex including: the introduction of unfavorable spread data, and fast swaps.

Therefore, in order to provide aggregated and balanced data, oracle providers must be rewarded in a decentralized way. The Standard Protocol solves it by providing phased rewards and position reductions that are equivalent to an IQR (Interquartile Range Rule).

Auctions are difficult to track and focus on

Liquidation auctions are difficult to track and participate in, and therefore only experienced traders can benefit from them. A more decentralized approach to liquidation of positions should be considered for this. Auction orders contain large amounts of collateral, which can lead to tyranny (who holds large amounts of collateral).

2. How the Stand Protocol solves the problem

Elastic supply

The issue rate of the MTR (inverse with the mortgage rate) is fully controlled by the administrator within the epsilon range; However, when the MTR price breaks out of the epsilon range, the activity will be suspended urgently and no further MTRs will be issued for the remainder of the period.

Starting from the next period, the system will charge and adjust the MTR issue rate to stabilize the MTR price to USD until the MTR price recovers to 3 quarters of the epsilon range.

If the MTR is higher than the USD, more MTR will be generated from the mortgage over the next period. If the MTR price is lower than the USD, there will be less MTR from the mortgage over the next period.

Total supply of MTR is adjusted according to the above ratio

Ampleforth (AMPL) uses an elastic supply to re-base its total supply. Standard restores its stablecoin supply from time to time and overuse it to mint stablecoin, Meter (MTR).

Standard (STND) automatically rebases collateralized stablecoins, in the way of an algorithmic reserve bank with decentralized governance for STND holders. By rebasing each period, the total supply of the stablecoin Meter (MTR) and the amount that can be issued is adjusted to the Meter (MTR) to the value of USD.


Meter Supply (MTR) is measured in each rebase and adjusted with intermediate prices from oracles

Decentralized Oracle ecosystem

Oracle customers from a variety of sources (e.g. Binance, Coinbase, HydraDX) can provide aggregated price information so that prices cannot be manipulated by a single entity.

Standard Protocol builds an oracle module to share block rewards with oracle providers. Substrate allows developers to divide block rewards among other network participants at all times.

The block reward for Oracle vendors maintains an 8: 2 ratio between validators and vendors for a period of time. The total block reward for each period is 10% (controlled by the administrator) of the total STND produced during the period.

Oracle vendors are selected using the phragmen algorithm. Selected oracle providers have no fees. Blocks can only have the maximum number of oracle transactions recorded. This is to prevent too many oracle transactions from taking over a block.

Oracles is used to create synthetic assets from the stablecoin Meter (MTR). The Standard Protocol treats oracles like validators to operate across a wide range of the DeFi ecosystem.

Effective liquidity in the market

Instead of holding an auction to liquidate collateral, the Deposit Standard Protocol liquidated the collateral into the AMM pair so Meter holders (MTRs) could buy the liquidated digital assets. other reason.

The standard protocol uses an integrated AMM module to provide liquidation in a more efficient way in the market, where liquidated assets are used to execute arbitrage transactions.

Standard Protocol rewards stakeholders that find loans that have expired by giving them a percentage (10% or more) of collateral.

The remainder will be routed to Standard Protocol’s integrated DEX to provide arbitrage trading opportunities for stakeholders using the exchange.

Basic price stability

By being algorithmically stable through rebasing, Standard Protocol provides cash that can act as a base price. For speculating on digital assets, Meter can be used to estimate the value of that asset at a price pegged in USD.

Ecosystems can interact

Standard Protocol is a collateralized, re-fundable rebasable stablecoin (CRS) protocol that works on different blockchains as a form of smart contract within each network.

Together, the Standard Protocol ecosystem for interoperability represents a blockchain hub.

Standard Protocol will be able to share price information with other chains or fiat assets without charging due to its self-maintained oracle reward ecosystem.

Use Vaults standards to leverage collateral

To help better understand Standard Protocol, I will take the example Ngoc – a personality girl who owns electronic money. Like MakerDAO’s Vault, Standard creates an MTR by leveraging all the accepted collateral called Standard Vaults.

One of the main ways Vault owners can use Meter (MTR) is to purchase additional collateral, usually DOT. If the DOT price increases, the Vault owner makes a profit.

She can also borrow from Vault as a form of decentralized leverage. Since Standard Vaults requires a 150% minimum mortgage, the maximum leverage available is 3 times, regardless of transaction fees or slippage.

Ngoc sends 15 DOTs, worth $ 1,500, into her Vault. She generates 1,000 Meter (MTR) of it (maximum possible with a 150% mortgage), and then uses the generated Meter (MTR) to buy 10 DOTs, which she sends back into her Vault me. Ngoc can now generate an additional 667 Meter (MTR) compared with the $ 1,000 of DOT collateral.

Buying $ 667 DOT allows her to generate an additional 444 Meter (MTR). Repeating this process provides an additional 296 Meter (MTR), then 198 Meter (MTR), 131 Meter (MTR), 88 Meter (MTR), and 59 Meter (MTR).

In the end, a total of 3,000 Meters (MTR) can be generated compared to the original 15 DOTs, allowing Gems to leverage 200% of her initial stake.

The risk of DOT depreciation also increases. If Ngoc does not keep her Vault fully collateralized, it could be liquidated.

Send Meter (MTR)

In addition to refinancing a Standard Vault with a generated Meter (MTR), tokens can also be used for purchases. One option is to use Meter (MTR) to buy other cryptocurrencies on the Meter market (MTR), which are cheaper than the prices available from HydraDX.

In addition, you can hold, earn, spend, donate, loan and trade Meter (MTR). Community will grow as teams build projects that use Meter (MTR).

Support for the Economy of the Meter (MTR)

Meter (MTR) will become the incubator for solutions to problems, from financial services to charities and its ambitions to become the most used cryptocurrency in the Polkadot ecosystem.

By interacting with the various products and services built into Meter (MTR), users can manage and trade their crypto assets, and develop and expand the Standard ecosystem. .

Simply by spending Meter (MTR), users are adding liquidity to the token, growing the Meter economy (MTR) globally, and improving the Meter’s configuration (MTR), and many advantages of It compared to conventional alternatives:

Decentralized: Meter (MTR) can be peer-to-peer by anyone, anywhere in the world without third-party intervention.

Accessibility: Anyone with an internet connection can access Meter (MTR) through various wallet solutions within the Polkadot ecosystem, including Mathwallet, Speckle.

Speed: Transactions typically take only a few seconds on the PoS network.

Low cost: The transfer fee is usually just a few cents.

How to use Standard Protocol

In the case of Pump market

Standard issued its MTR stablecoin from collateral, typically the DOT. This allows leveraged trading to make a profit with one’s existing assets. Additionally, holders of MTR can generate aggregate assets out of oracles, such as virtual stocks, commodities, etc.

In the case of Dump market

MTR holders can still make a profit by buying other digital assets from liquidation. These assets can be bought with MTR and sold on exchanges

Why is the digital asset coming from Meter cheaper than other exchanges?

Since liquidation from expired vaults will be routed to the market, Meter holders (MTRs) can buy other digital assets at a discount.

Crosschain integration

Standard protocol is a crosschain application protocol that aims to be an important currency for each blockchain ecosystem. Standard protocols that will be applied to a blockchain include: Exchange integration, Oracle support for pricing, and support for smart contracts.

Stage 1. Deployment

Standard protocol will be initially implemented in smart contracts in the following platforms: Parity ink, Cosmwasm (new smart contract platform built for cosmos ecosystem), EVM (Solidity, Vyper).

An integrated interface will be provided starting with the EVM implementation.

Stage 2. Connection

Standard protocol will be implemented for parsed or chained chains based on Cosmos SDK, all of which support IBC. Each implementation of the Standard protocol will be able to transfer assets or receive value from other blockchains in a decentralized manner.

Stage 3. Unification

Managing each implementation with different tokens can confuse STND holders. To prevent this, the Standard protocol builds separate operational blockchains for each inter-chain ecosystem to provide unified governance.

Smart contracts are limited in the way that one has to perform a transaction in order to administer it. A dedicated governance blockchain will process proposals and voting in an automated and fair manner.

Mechanism of Standard Protocol

Maintain stability

The standard protocol protects its price during both contractionary and expansionary phases, with the process of payment of payment, through stabilization fees and rebasing a steady total supply of money every eight hours.

Stable fee

The standard protocol gets a stable fee as a profit by creating a stable coin MTR.

The stability fee is determined by the governance as a percentage and the amount of MTR required to close the vault is calculated by the number of previous periods.

After opening a position, it is calculated using a simple interest formula. Assuming the steady rate of fees is R, the number of past periods is N and G is the amount of the generated MTR.

Period (ERA)

A period = 24 hours in a substrate node with an interval of 6 seconds in block completion. Standard uses the same amount of time to define the period.

Elastic supply

Similar to Ampleforth’s elastic supply, the stablecoin’s total supply is adjusted when the price falls out of the epsilon range, about 1% of $ 1.

Expansionary & Contractionary

Expansionary

In economics, the Expansionary Policy is done by pumping money into the economy to stimulate investment in business and consumer spending. The pumping can be through government spending or by lowering the lending interest rate.

Expansionary in Standard Protocol, makes sense in case the price increase of the MTR exceeds 1 USD, the vault will transfer the new MTR to the vault account. After that, the vault will have an additional mortgage MTR for distribution to the community.

Contractionary

In economics, a Contractionary policy is a monetary measure that causes government spending to deficit or expand in the monetary ratio of the central bank.

Contractionary in Standard Protocol, which makes sense in cases where the MTR price falls below 1 USD (or DAI), the community is encouraged to repay the loan from the vault due to the relatively cheaper MTR price. Vault corrects this situation by reducing the supply of reserves in the Vault account to maintain a peg of $ 1. If the Vault is unable to reduce its reserve supply, the Vault module will declare emergency shutdown to generate an MTR.

Runtime modules

The Standard Protocol is implemented using Parity Substrate and has 9 runtime modules built using the pallets available in the Open Runtime Module Library (ORML).

Token

Token module is a registered place to store asset information about Standard Protoco and other chains. Derived from ORML’s XCM token, the Standard Protocol’s token module manages assets that come in and out through Cross-Chain Message Passing (XCML) over parachains. Assets are managed with a unique identifier.

Market

The Market module in the Standard Protocol manages pairs for an automated market maker (AMM) between each collateral and its stablecoin Meter (MTR). Derived from Uniswap V2 contracts, the AMM module supports transactions within the Standard Protocol’s ecosystem.

The module allows MTR holders to buy other digital assets or provide liquidity to earn fees on every exchange in the market.

Vault

The Vault module takes other digital assets as collateral and generates an MTR. The MTR holder may create synthetic assets at the price provided by the providers by oracle providers.

Staking

The Staking module uses an NPoS (Nominated Proof of Stake) mechanism to select validators and reward them commensurate with their actions in each period.

The staking module comes with other modules, including discovering authority over the authority keys of the candidates per block.

Oracle

Oracle module is a price and election feed information module, this module stores prices from external data with content IDs from Token module in the form of keys. Oracle Vendors are elected at all times with the amount of stake from the user.

Oracle vendors provide pricing information and are periodically rewarded on each block reward. Prices are stored in state and oracle providers are reviewed from time to time.

If they create anomalies, they’ll be slashed. The total reward for each oracle provider in each era is recorded by the Reward module and the ratings can claim their rewards by claiming them.

Farm

The Farm module modeled after the existing Solidity contracts is used for yield farming projects in Ethereum. It distributes rewards proportionally based on the amount of staked and the time that has elapsed.

The farm module will be used to reward liquidity providers, who will provide liquidity to each asset pair including the MTR and some other assets.

Reward

The Reward module manages the annual inflation rate through administration and stores the total rewards for network participants from time to time. With STND’s initial annual inflation rate of 5%, the reward is distributed to oracle and validator at a ratio of 2: 8.

Other network participants (e.g. liquidity providers) can be added via on-chain run-time upgrades.

Democracy

Democracy module manages the governance problem in order to operate the Standard Protocol. The module has access to all root methods for each runtime module and holders can suggest changes in the network. Voting rules follow the same rules outlined in the Polkadot wiki.

Treasury

The Treasury module manages the proceeds from fees or slashes in the Standard Protocol. This module is used to fund protocol developers, monthly payments for operators and teams, stable fee management or bonuses for community members.

Tokens in the Standard Protocol ecosystem

Meter (MTR)

Meter (MTR) is a stablecoin synthesized by the vault protocol. By rebasing the total supply of the stablecoin at the oracle price provided by the oracle customers, the supply of the stablecoin is adjusted so that the value remains at $ 1.

Holders can use MTR as a medium of exchange, to buy other assets and farm tokens in the Standard Protocol ecosystem by providing liquidity. The supply of the MTR is expanded and combined accordingly to maintain the exchange rate.

Liter (LTR)

Liter (LTR) is a liquidity provider token representing a portion of the AMM module.

Similar to LP tokens in Uniswap, LTR can be burned in AMM to receive deposited assets. LTR can also be used for liquidity mining.

There are also the following tokens: Standard (STND), Standard Tokenomics, STND Token Distribution.

Through this article, we hope to help you understand the Standard Protocol ecosystem abbreviated as STND. We will also update other articles about this ecosystem, stay tuned for updates from us.

EToro’s crypto investment service adds UniSwap and Chainlink

In its recent announcement, eToro added UniSwap and Chainlink to its crypto trading services.

Social trading and investment platform eToro has decided to add two DeFi-based protocols such as UniSwap (UNI) and Chainlink (LINK) to its online cryptocurrency trading services.

EToro Vice President Doron Rosenblum approved the addition of both UniSwap and Chainlink to the platform. As a result, this has brought the total number of digital assets eToro is offering to 18.

Chainlink is currently the 12th largest digital asset with a market cap of over $ 15 billion. On the other hand, UniSwap is in 11th place with a market capitalization of $ 15.8 billion.

The additional admission of UniSwap and Chainlink has attracted the attention of investors, Rosenblum especially said that eToro has always been driven by the robust growth of the crypto industry. This will help them add more cryptocurrencies in the future.

Currently, eToro exchange has over 20 million registered users. In addition, eToro currently provides trading services for leading cryptocurrencies such as Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, XRP, Dash, ADA, following this article you will be able to deliver translate UniSwap with Chainlink on eToro.

800 million XLM has been moved in the last 15 hours

The Whale Alert channel, which tracks major movements of digital currencies, has detected nearly 800 million XLM being moved by major owners in the past fifteen hours.

800 million XLM moved

This huge volume of XLM has been moved by anonymous users, according to a series of recent tweets posted by Whale Alert, totaling 800 million XLM, equivalent to $ 351,697,770.

Arguably, this is the first major XLM move in the past few weeks.

At the time of writing, XLM is a 15th ranked digital currency on CoinMarketCap, trading at $ 0.44. Over the past 24 hours, the coin has increased by 8.41%.

ETP XLM and ADA are launched in Switzerland

It is possible that the following event was one of the reasons that triggered the move above. On April 22, CoinDesk reported that ETP products based on XLM and ADA were launched on the Swiss exchange SIX.

The ETPs are launched by Swiss-based investment product provider 21Shares – crypto-friendly country.

Facebook’s stablecoin Diem could launch in late 2021

Announced in 2019, the Facebook-backed stablecoin, has undergone many changes – Diem – visible to light by the end of 2021.

The Facebook-backed cryptocurrency project Diem could launch the first stablecoin by the end of 2021 as a small-scale experiment.

CNBC announced on Tuesday, the source stated that the Swiss-based nonprofit The Diem Association is still intending to launch a test of a US dollar-backed stablecoin later this year. .

Back in November 2020, the association announced plans to limit the launch of a single US dollar-backed stablecoin in January, but as months passed, the coin has yet to appear.

Diem’s ​​stablecoin is a scaled-back and dramatically altered from Facebook’s original vision of a global digital currency, tied to a basket of multiple fiat currencies. Besides removing the Libra name, commentators have pointed to radical changes to Diem’s ​​burgeoning project in response to stiff opposition from global regulators and countries. family.

Ran Goldi, CEO of First Digital Assets Group, told CNBC that Diem’s ​​underlying technology has changed dramatically in the past year and a half from an innocent blockchain to a very complex blockchain you can see. try to answer some of the questions that the managers ask. First Digital Assets Group is currently building the infrastructure for merchants to facilitate Diem’s ​​use as a means of payment.

Meanwhile, Diem continues to wait for regulatory approval and payment authorization from the Swiss Financial Market Supervision Organization. Commentators talking to CNBC are optimistic, with Chainalysis CEO Michael Gronager and let’s believe Diem will get through the gate this year. If not, it would be a missed opportunity.

Turkish crypto exchange Thodex CEO Thodex reportedly fled with $ 2 billion

Some reports claim that the CEO of a Turkish exchange ran away with up to $ 2 billion in user funds. Authorities have opened an investigation.

Nearly 400,000 users of a cryptocurrency exchange in Turkey were unable to access their accounts. The platform’s website was shut down for a few days, while reports show its CEO fled the country for up to $ 2 billion.

Can the Turkish Exchange get out?

Bloomberg reported yesterday that Thodex, a Turkish-based cryptocurrency exchange, stopped trading, citing unknown partner trading. The trading platform founded in 2017 released a statement explaining that all services will be down for about five business days. However, the exchange reassures customers that they shouldn’t worry about their money.

However, almost at the same time, users started complaining about their inability to access their own assets. Some took it on Twitter to justify the absurdity of the situation.

More recently coverages claimed that the founder and chief executive officer, Faruk Fatih Ozer, fled the country.

Users accuse fraud

When news of Ozer allegedly fled Turkey, the exchange’s users hired a law firm to file a lawsuit against Thodex. Oguz Evren Kilic, representing several Thodex clients, confirmed to have filed a legal complaint on Wednesday.

He speculated that the amount on the Turkish exchange could be worth hundreds of millions of dollars, he said: “remember that the user base is only 400,000”. And he also asserted: “A prosecutor in Istanbul is believed to have opened an investigation”.

According to another report, the CEO and founder of Thodex fled to Thailand with an estimated amount of $ 2 billion.

What opportunities are there for members of the Thodex exchange

Historically, there have been many cases where cryptocurrency exchanges have been stolen due to various factors, but this was the first time since the exchange’s chief executive. Because of identifying the identity of the person who stole the assets of Thodex members, the fact that investors can get back the crypto assets is something we are sure of above 50%.

Please hope with our judgment, and please boldly denounce the fraud of Thodex director.

Review BaseFEX exchange

BaseFEX is a cryptocurrency derivative trading platform that has been in operation since June 2017. The platform is supported by a number of major industry companies and organizations including big.ONE, one of the major exchanges. top and safest, as well as top venture capital firms, including companies like inBlockchain, Ceyuan Ventures. The founding team members come from reputable companies such as Citi, JPMorgan, Alibaba, and others.

BaseFEX has operations in over 20 countries and to date has 5 million registered users from regions such as North America, Europe, Russia, Japan, Korea and Southeast Asia, with daily transaction volume. is more than 840 million dollars.

Trading pair

BaseFex offers futures contracts for BTC, ETH, XRP, LTC, BCH, EOS, ETC, BNB, ZEC, and DASH. All contracts can be traded with up to 20x leverage, except Bitcoin with leverage up to 100x. The exchange has differentiated from its competitors by setting contracts in both BTC and USDT.

Trading experience

Trading experience is one of the aspects that BaseFEX sets the standard for others to follow, as it provides users with a beautiful, simple, easy to use, accessible interface for both beginners and seasoned traders.

There is also a free testnet function so users can experience new trading strategies on BaseFEX and excellent trading features, as the testnet platform does not deploy real cryptocurrency transactions, but rather. is the simulation platform.

Website in more than ten different languages ​​(English, Japanese, Korean, Chinese, Russian, Portuguese, Spanish, French, Turkish, Italian and Vietnamese), allows global customers to transact in their own language, thereby making it easier to access BaseFEX.

Transaction fee

When choosing an exchange, transaction fees are often one of the most important factors to take into consideration, as lower commissions can drive profits.

Fees for Taker on BaseFEX start at 0.06% which is common to all of its current trading pairs including BTCUSDT, BTCUSD, ETHXBT, LTCXBT, BNBXBT, etc. The rate of fees is subject to the volume of transactions of the client, the more you trade, the lower the fee payable, possibly down to 0.03% for the average retail trader. As for Maker fees, it starts with 0.02% and follows the ranks, based on volume, which can be as low as 0.005%. The fee that BaseFEX offers has advantages over many popular derivatives exchanges.

Withdrawal fee

BaseFEX does not charge deposit or withdrawal fees.

Security

When observing the security features, BaseFEX stores all customer assets in a cold storage wallet and has achieved an A + security rating in Mozilla Observation Test and runs the rewards program for detection. security error at startup. BaseFEX regularly reviews its security protocols and uses periodic stress tests and security audits to respond promptly to potential vulnerabilities. During its lifetime, BaseFEX has never encountered any kind of breaches.

Legality

The no-KYC policy has attracted crypto enthusiasts to BaseFEX – a healthy and comprehensive platform, users can trade on the exchange without any verification when depositing or trading. translate or withdraw money. This has become a major problem in the industry as KYC defies the original spirit of cryptocurrencies – anonymity. It is clear that BaseFEX aligns its mission with that spirit, something that cryoto communities all over the world value highly.

Customer support

BaseFEX’s customer support team via Email, Telegram, Twitter and online chatbox 24/7, BaseFEX provides a consistent and professional service, solving customer problems with the fastest possible speed.

Education

Besides communication channels, the exchange will provide related documents to help traders better understand how to trade perpetual contracts. DOCS includes knowledge of how to manipulate floors, as well as how to choose contracts and references. This content is divided into five financial areas: Margin, Order and Liquidation, Funding, Profit and Loss; allows users to quickly find the documents they need.

BaseFEX regularly receives customer feedback and interest to organize the right content to meet the increasing needs of users.

Application

The super user-friendly and intuitive BaseFEX application can be downloaded from the App Store and Google Play, allowing users to track transactions and manage risks incurred.

Conclude

Everything BaseFEX does perfectly embodies the original spirit of cryptocurrency, one of which includes: Decentralization, Transparency, Respect for Privacy, Security and No Borders. The difference between BaseFEX and other exchanges is that BaseFEX prioritizes the needs of its users, gives absolute attention to customers, so that they can spend a lot of time in trading.

The world’s lowest transaction fees, top security, No-KYC and many more features like USDT payment contracts are the things that very few exchanges have that can reach everyone’s approval.

To learn more about BaseFEX, please visit the website: https://www.basefex.com/

What is Huobi ECO (HECO) Chain?

Huobi HECO Chain (HECO) is a decentralized public chain, with two characteristics: high efficiency and energy saving. This technology product is compatible with Smart Contracts on the basis of supporting high-performance transactions.

In other words, HECO Chain is the first product of the Huobi open platform, a unified infrastructure based on technical resources, traffic resources and resources from the Huobi Global Group’s ecosystem. Huobi wants to adopt the HECO chain to provide more diverse innovation methods and basic services to global developers.

Huobi Open Platform at a Glance

Huobi Open Platform is a unified infrastructure based on technology, user traffic and the entire Huobi ecosystem, created with the goal of providing a diverse ecosystem for developers around the world. . In December 2020, Huobi Open Platform’s first product, Huobi ECO Chain (Heco), is currently in its first stage as “Tinder”, focusing on improving on-chain infrastructure including: Oracle, Voting tool, Anchor Coin, DEX, Lending, Financial Management, Insurance, Synthetic Assets, Cross-Chain solutions, Data Analysis,…. Besides, Huobi Open Platform will also have DEX – decentralized exchange along with Layer 2 projects.

Huobi Global’s vision for the HECO Chain project

For the vision of a large exchange like Huobi Global, HECO Chain is not just a blockchain, but HECO also aims to centralize and support potential projects that will develop on HECO. Based on the world’s largest available trading ecosystem of Huobi Global, HECO is expected to become a cherished place for technology projects as well as breakthrough projects, and complete an ecosystem for public development. technology, application and transaction.

Basic information about Huobi ECO Chain

HECO was launched on December 21, 2020 by Huobi Group. This is a public Blockchain on DeFi platform, helping Ethereum developers to easily initiate Smart Contracts. HECO Chain will have several important advantages such as cost saving, good cross system.

Cross-Chain

Assets such as ETH, BTC and Stablecoin can use the bridge to transfer into HECO. The concrete way is to lock this asset on its chain, then create the corresponding number of assets on HECO’s side. At the same time, the project also encourages developers to provide a number of other decentralized cross-chain solutions.

Meta-transaction function

Allow users to reduce gas fees and HECO will pay for this discount. The meta-transaction function allows to reduce the cost of money transfer of developers, as well as reduce fees for DApp users.

Highlights Huobi ECO Chain

Users can use HT to buy different levels of VIP status on the Huobi exchange. These statuses are available when users sign up and pay a monthly fee. The highest percentage in discount is up to 50%.

Repurchase of liquidity

Huobi HECO Chain may from time to time use the revenue from transaction fees to buy Tokens.The purpose of this is to increase the liquidity in the transaction and the price of the Tokens, while minimizing speculation. In addition, the token redemption will add to Huobi’s user protection fund, to combat fraud, manipulation and compensation in case of emergency.

Financial support

HECO will create a fund to support, as well as to encourage, potential developers. In addition, the project also organizes competitions and activities for developers. Meta transaction will reduce gas fees of users holding HT.

Support to provide traffic

Provide traffic for high quality Dapps on HECO.

After a completely successful run on HECO, high-quality projects can submit an application to list tokens on Huobi Global and there is a very high chance of being listed on Huobi Global if they meet Huobi standards.

Resource support

Projects or project developers that receive investment and support from HECO not only have the opportunity to receive support, but can also sign up for marketing packages and promote the project globally.

High-quality projects can join HECO’s global roadshows for free.

Huobi will open up ecological resources to potential developers, in accordance with mutually beneficial collaboration between developers and partners in the Huobi ecosystem.

Development team

HECO Chain is owned by Huobi Group, founded by Leon Li. This is known as the largest cryptocurrency exchange in China. Currently, the group has branches in Hong Kong, Korea, Japan and the United States.

Investor and Partner

Currently, two investors of Huobi are Node Capital and Zhenfund. In addition, Huobi is currently conducting 7 investments in Blockfolio, Bytex.io, OpenFinance Network, TokenPocket, Covalent, algoreg, haoshouyi.com.

Is Huobi ECO Chain (HECO) reliable?

According to the November 2020 activity report, Huobi Global has sold 6.31 million HT, the total number of HT in circulation is 267,605,300, the monthly growth of users is 3.97%. In addition, as of December 14, 2020, Huobi Global has launched 8 coins and 10 DeFi mining liquidity, locking a total of 79 million HT, distributing USDT with a value of 7 million USD for traders. On the other hand, Huobi.pro is also one of the world’s famous cryptocurrency exchanges.

Through the above numbers, Huobi ECO Chain will be a very desirable blockchain in the near future.

Conclude

In a nutshell, Huobi ECO Chain, also known as HECO, helps users experience the same features of Blockchain, but this system adds a few other advantages such as high performance, low transaction fees and chain. good cross.

Above is information about Huobi ECO Chain, an interesting factor in the cryptocurrency and financial markets today. Hopefully the information that Coin68 has just sent will be somewhat useful to readers.

The content in this article is not considered an investment advice, you should learn fully and fully equip yourself with knowledge of finance and Crypto to be able to make decisions and choices. most correct.

Sweden is expected to take 5 years to complete the E-krona digital currency

Sweden’s central bank governor (Riksbank) has launched a tentative timeframe for E-krona, their planned digital currency.

Riksbank Governor Stefan Ingves

On April 15, Bloomberg reported that Governor Stefan Ingves said five years “is a reasonable goal” for the Swedish central bank to have a working digital currency. While this is the bank’s first time making such an estimate, it means the timeline isn’t quite as fast as some predicted.

As a member of the European Union, however, Sweden is outside the Eurozone and built its own national currency, the Krona. Sweden’s digital payments ecosystem is extremely dynamic, with cash usage in the country among the lowest in the world.

Many consider Sweden as the pioneer in Europe to issue a central bank digital currency (CBDC), as it does not need to balance national interests but the digital Euro, more than 20 countries have to deal with.

Riksbank itself has always been quite conservative in its CBDC launch time estimates. At the end of last year, a top official in Sweden announced that the launch of the E-krona’s practicality assessment was expected to end until November 2022.

How unique and pioneering is KingTech really?

Since its inception, KingTech has embarked on a mission to build a decentralized internet infrastructure.

Indeed, decentralized finance (DeFi) has opened up a lot of opportunities and applications for crypto enthusiasts in the blockchain space. In recent years, a series of groundbreaking innovations have emerged, notably DeFi, the irreplaceable token (NFT) and Game DApp. These DApps have begun to create key activities that are driving the boom in the blockchain industry.

According to DappRadar, in Q1 2021, Binance Smart Chain hit an all-time high of $ 700 billion in transaction volume, with growth fueled by an increase in activities such as trading and lending. and payment.

Furthermore, this shows that the opportunities lurking around DeFi are extremely impactful and as a result the DeFi ecosystem is gaining more and more traction. Today, new DeFi products and services are created to provide better services and results to market stakeholders.

KingTech – a unique ecosystem from Game DApp to Bot Trading, has provided unique services and benefits for crypto enthusiasts and entrepreneurs in the crypto space. The decentralized ecosystem is creating a blockchain-based entertainment and exchange system that will redefine how crypto entrepreneurs exchange market value and infrastructure.

Since its inception, KingTech has embarked on a mission to build a Decentralized Internet Infrastructure. And to achieve this, KingTech applies an authorized proof of stake (DPoS) algorithm to avoid slow transaction speeds and high transaction fees like a blockchain that uses a proof of work (PoW) algorithm. Here are some of the amazing features of the KingTech ecosystem that help it outperform other platforms.

BO Exchange: AI robot helps to optimize Forex market and profitability helps investors achieve good results when investing in Forex.

KingGame: This is a sports game system applying technology directly connecting with leading global partners to create new and unique experiences. With a system of global partners, this ecosystem provides continuous services and also supports other cryptocurrencies to help users participate in the network seamlessly.

Electronic money loan: This system provides P2P loans, helps creditors optimize profits and borrowers get loans quickly from the system.

KIDEX: This BSC-based decentralized exchange enables fast transactions, reduces slippage and optimizes transaction fees.

NFT + FomoJackpot: A decentralized lottery app built on Binance Smart Chain.

Basically, KIN tokens are used to pay transaction fees in the KingTech ecosystem. With this token, network users can receive a more affordable transaction fee compared to other payment methods using different cryptocurrencies. And as such, this allows gamers and crypto enthusiasts to engage in various activities within the platform to make even more profits. Currently, KingTech has more than 1,000 live games with players from over 100 countries as well as more than 40 top game partners.

What’s interesting is that KingTech is creating a platform with easy-to-use built-in features and services for stakeholders to seamlessly earn rewards and maximize the value of their digital assets. More than that, this blockchain technology aims to simplify transactions by processing blockchain-related complexities to facilitate an entertaining and seamless ecosystem.