📣 Wintermute-Backed Decentralized Exchange Bebop Launches on Polygon
Bebop, a decentralized exchange (DEX) backed by Wintermute, a well-known crypto market maker, has launched on the Polygon blockchain after being open for whitelisted traders on Ethereum over the summer. Bebop claims to stand out among its competitors because of its signature one-to-many and many-to-one token trading, which allows users to trade multiple cryptocurrencies in one trade and save up to 65% on gas fees. This is similar to what rollups do – they bundle multiple transactions into one to significantly reduce gas fees. According to Katia Banina, Head of Product at Bebop, launching Bebop on Polygon further reduces gas fees.
Bebop, a decentralized exchange (DEX) backed by Wintermute, a well-known crypto market maker, has launched on the Polygon blockchain after being open for whitelisted traders on Ethereum over the summer. Bebop claims to stand out among its competitors because of its signature one-to-many and many-to-one token trading, which allows users to trade multiple cryptocurrencies in one trade and save up to 65% on gas fees. This is similar to what rollups do – they bundle multiple transactions into one to significantly reduce gas fees. According to Katia Banina, Head of Product at Bebop, launching Bebop on Polygon further reduces gas fees.
Metaverse Commerce Will Fundamentally Disrupt the Retail Ecosystem
Prime real estate has always been an important factor for most retailers before starting a business, but things might be different with the emergence of a new virtual platform. The metaverse is a platform combining multiple technologies to enable social and economic activity in a digital world connected to the physical one. With the effects of metaverse commerce adoption.
Info-Tech's research indicates that retailers often struggle to adapt to the evolving needs of virtual shoppers, which can include the use of cryptocurrencies or NFTs. Shopping in the metaverse works differently than in the real world, which has shifted more online since the onset of the pandemic. Retail in the metaverse requires a new outlook, models, and competencies to become competitive.
Prime real estate has always been an important factor for most retailers before starting a business, but things might be different with the emergence of a new virtual platform. The metaverse is a platform combining multiple technologies to enable social and economic activity in a digital world connected to the physical one. With the effects of metaverse commerce adoption.
Info-Tech's research indicates that retailers often struggle to adapt to the evolving needs of virtual shoppers, which can include the use of cryptocurrencies or NFTs. Shopping in the metaverse works differently than in the real world, which has shifted more online since the onset of the pandemic. Retail in the metaverse requires a new outlook, models, and competencies to become competitive.
⚡️ DeFi Exchange Platform dYdX Places Solana in 'Close Only' Mode
Decentralized exchange dYdX placed Solana trades in “close only” mode, meaning users will only be able to close out their positions on the perpetuals exchange and not open new ones. DYdX cited “market volatility” as its reason for making the move. Solana’s SOL token fell precipitously today on the news that FTX, a crypto exchange that holds a major stake in Solana, has become insolvent. SOL is currently priced at $14.10, down 40% from $24 a day ago. DYdX is a “hybrid” decentralized exchange that uses code – rather than a central intermediary – to facilitate most of its operations. The platform facilitated $3 billion worth of transactions in the past 24-hours, making it the largest decentralized finance (DeFi) exchange by daily trading volume according to CoinMarketCap.
Decentralized exchange dYdX placed Solana trades in “close only” mode, meaning users will only be able to close out their positions on the perpetuals exchange and not open new ones. DYdX cited “market volatility” as its reason for making the move. Solana’s SOL token fell precipitously today on the news that FTX, a crypto exchange that holds a major stake in Solana, has become insolvent. SOL is currently priced at $14.10, down 40% from $24 a day ago. DYdX is a “hybrid” decentralized exchange that uses code – rather than a central intermediary – to facilitate most of its operations. The platform facilitated $3 billion worth of transactions in the past 24-hours, making it the largest decentralized finance (DeFi) exchange by daily trading volume according to CoinMarketCap.
📣 FIRST CONCERT ANNOUNCED FOR AFRICA’S METAVERSE
Africa’s largest mobile network operator MTN Group has announced it will host the first virtual concert in the continent’s metaverse, Ubuntuland. The event will be held on 30 November in partnership with talent search programme The Mic: Africa. giving customers a chance to win exclusive tickets to the concert.
The MTN Group’s presence in the African metaverse will be known as altMTN,” says Bernice Samuels, MTN Group executive, group marketing. “altMTN allows us to further support our ambition to lead digital platforms and support African innovation, and will, over time feature live events, shopping, gaming and learning. MTN will be running a competition for its launch event.
Africa’s largest mobile network operator MTN Group has announced it will host the first virtual concert in the continent’s metaverse, Ubuntuland. The event will be held on 30 November in partnership with talent search programme The Mic: Africa. giving customers a chance to win exclusive tickets to the concert.
The MTN Group’s presence in the African metaverse will be known as altMTN,” says Bernice Samuels, MTN Group executive, group marketing. “altMTN allows us to further support our ambition to lead digital platforms and support African innovation, and will, over time feature live events, shopping, gaming and learning. MTN will be running a competition for its launch event.
🚨 Polychain-backed DFX Finance hacked for $7.5 million
DFX Finance, a decentralized exchange protocol for fiat-pegged stablecoins, reported that it was attacked at 2:21 pm ET. An unknown attacker siphoned approximately $7.5 million from DFX, according to estimates from security researchers at BlockSec. The DFX Finance team acknowledged the security exploit and said it has paused all of its smart contracts to contain the issue. “We were notified of the suspicious activity within 20-30 mins of the first transaction and executed a pause on all DFX contracts within a few minutes after confirming the attack,” it said. The remaining portion of the stolen assets — about $3.2 million — was extracted by an MEV bot in a front-running transaction, also called a sandwich attack.
DFX Finance, a decentralized exchange protocol for fiat-pegged stablecoins, reported that it was attacked at 2:21 pm ET. An unknown attacker siphoned approximately $7.5 million from DFX, according to estimates from security researchers at BlockSec. The DFX Finance team acknowledged the security exploit and said it has paused all of its smart contracts to contain the issue. “We were notified of the suspicious activity within 20-30 mins of the first transaction and executed a pause on all DFX contracts within a few minutes after confirming the attack,” it said. The remaining portion of the stolen assets — about $3.2 million — was extracted by an MEV bot in a front-running transaction, also called a sandwich attack.
OpenSea's new NFT creator royalty structure is creating a massive wave in the NFT industry. Artists are calling out NFT marketplaces that are stipping creators of their pay.
(NFT creators and artists lived off the incentivized royalty payouts, which separated NFTs from traditional art and created a way for artists to be paid on a regular basis. Due to this payout, artists that moved into NFTs have lifted themselves out of poverty and welfare, receiving stable income. This was one of the most valued assets that the NFT industry carried, which guided many artists to transfer over and embrace the power of web3.)
However, NFT marketplace Objkt, Rarible, and MakersPlace, among others, are supporting Royalties and taking this opportunity to show their support for creators. If OpenSea does in fact get rid of the creator royalties, we assume that artists will flock toward a platform where royalties are supported.
(NFT creators and artists lived off the incentivized royalty payouts, which separated NFTs from traditional art and created a way for artists to be paid on a regular basis. Due to this payout, artists that moved into NFTs have lifted themselves out of poverty and welfare, receiving stable income. This was one of the most valued assets that the NFT industry carried, which guided many artists to transfer over and embrace the power of web3.)
However, NFT marketplace Objkt, Rarible, and MakersPlace, among others, are supporting Royalties and taking this opportunity to show their support for creators. If OpenSea does in fact get rid of the creator royalties, we assume that artists will flock toward a platform where royalties are supported.
State-Run Chinese Newspaper Economic Daily Warns Against 'Betting Big' on the Metaverse
Economical Daily, an economic newspaper run by the Chinese state, has published an article noting problems with investing in the metaverse. The article says that metaverse investments might not be suitable for all regions of the country, comparing the trend to the explosion of new green energies not long ago.
While the metaverse has become a hot topic after the Covid-19 pandemic, some have been criticizing the euphoria surrounding it. Economic Daily, a state-run newspaper in China, has dedicated a whole article to warning Chinese citizens about putting significant amounts of funds into metaverse investments. At that time, many investments were dedicated to this area, creating a surplus of energy where it was not needed.
Economical Daily, an economic newspaper run by the Chinese state, has published an article noting problems with investing in the metaverse. The article says that metaverse investments might not be suitable for all regions of the country, comparing the trend to the explosion of new green energies not long ago.
While the metaverse has become a hot topic after the Covid-19 pandemic, some have been criticizing the euphoria surrounding it. Economic Daily, a state-run newspaper in China, has dedicated a whole article to warning Chinese citizens about putting significant amounts of funds into metaverse investments. At that time, many investments were dedicated to this area, creating a surplus of energy where it was not needed.
The Argentinian superstar footballer playing for Paris Saint-Germain is joining Sorare NFT trading game as an investor and a brand ambassador.
With the help of Lionel Messi, Sorare hopes to set a new standard for connecting with fans and players as they work together to create new content and fan experiences.
With the help of Lionel Messi, Sorare hopes to set a new standard for connecting with fans and players as they work together to create new content and fan experiences.
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🚨 DFX Finance Hacked for $4M – Attacker Moves Funds Through Tornado Cash
Stablecoin-focused decentralized exchange DFX Finance (DFX) suffered an attack on Friday, November 11th, resulting in the loss of $4 million in stolen funds. PeckShield, a blockchain security firm, tweeted early on Friday morning that a hacker had managed to siphon an approximate 3,000 ETH, worth around $4 million USD at the time of writing, due to a “lack of proper reentrancy protection”. DFX Finance confirmed the hack, stating that it was notified of suspicious activity within 20-30 minutes of the initial transaction, and swiftly executed “a pause on all DFX contracts within a few minutes after confirming the attack”.
Stablecoin-focused decentralized exchange DFX Finance (DFX) suffered an attack on Friday, November 11th, resulting in the loss of $4 million in stolen funds. PeckShield, a blockchain security firm, tweeted early on Friday morning that a hacker had managed to siphon an approximate 3,000 ETH, worth around $4 million USD at the time of writing, due to a “lack of proper reentrancy protection”. DFX Finance confirmed the hack, stating that it was notified of suspicious activity within 20-30 minutes of the initial transaction, and swiftly executed “a pause on all DFX contracts within a few minutes after confirming the attack”.
📣 OKX Wallets are now compatible with the FMEX Football Metaverse
FMEX Football Metaverse took to Twitter to announce its collaboration with OKX Wallet. According to the collaboration, users on the FMEX Football Metaverse can now connect their OKX Wallets to explore the ecosystem of the football metaverse. The agreement also enables customers to conduct crypto transactions.
OKX Wallet is a portal to Web3. It functions to expand its reach to the NFT world and decentralized applications while acting as a perfect wallet for cryptocurrency. While there are several cryptocurrency wallets on the market, OKX Wallet distinguishes itself by supporting Web3-centric applications of the next generation. OKX, despite appearing to be a standard cryptocurrency exchange platform.
FMEX Football Metaverse took to Twitter to announce its collaboration with OKX Wallet. According to the collaboration, users on the FMEX Football Metaverse can now connect their OKX Wallets to explore the ecosystem of the football metaverse. The agreement also enables customers to conduct crypto transactions.
OKX Wallet is a portal to Web3. It functions to expand its reach to the NFT world and decentralized applications while acting as a perfect wallet for cryptocurrency. While there are several cryptocurrency wallets on the market, OKX Wallet distinguishes itself by supporting Web3-centric applications of the next generation. OKX, despite appearing to be a standard cryptocurrency exchange platform.
📈 DYDX Coin Leads Sunday Gainers, Crypto Total Market Cap Dips Below $840 BN
FTX exchange, specifically events around it, have been the biggest headline in the digital asset sector this past week. The exchange saw massive withdrawals earlier this week from users reacting to Binance’s announcement of dumping the FTT token. Further unraveling and knock-off goings-on sent the cryptocurrency market tumbling before Thursday’s October US CPI report brought a much-needed repose going into Friday. Things have worsened for FTX, at least its main international exchange entity. Various new outlets citing people in the know reported on Saturday (Nov 12) that the bankrupt exchange suffered a $400 million drain late on Friday.
FTX exchange, specifically events around it, have been the biggest headline in the digital asset sector this past week. The exchange saw massive withdrawals earlier this week from users reacting to Binance’s announcement of dumping the FTT token. Further unraveling and knock-off goings-on sent the cryptocurrency market tumbling before Thursday’s October US CPI report brought a much-needed repose going into Friday. Things have worsened for FTX, at least its main international exchange entity. Various new outlets citing people in the know reported on Saturday (Nov 12) that the bankrupt exchange suffered a $400 million drain late on Friday.
Metaverse community with 3M users adds utility with FIFA World Cup 2022™ collaboration
Metaverse definitions are widely disputed. So it’s not surprising that most of the world is confused. Is there just one digital world or are there many? Will the metaverse supplement the real world or will it be the physical world supplementing the digital one. Unfortunately, despite so many questions circulating about the metaverse, looking at the current landscape.
At present, many projects are looking at metaverse hype, in general, as an opportunity to attract users into their online community with short-term incentives like money-making opportunities and flashy digital collectibles. Therefore, despite users needing to learn what the metaverse is and how it will benefit them, most are still joining these projects out of curiosity.
Metaverse definitions are widely disputed. So it’s not surprising that most of the world is confused. Is there just one digital world or are there many? Will the metaverse supplement the real world or will it be the physical world supplementing the digital one. Unfortunately, despite so many questions circulating about the metaverse, looking at the current landscape.
At present, many projects are looking at metaverse hype, in general, as an opportunity to attract users into their online community with short-term incentives like money-making opportunities and flashy digital collectibles. Therefore, despite users needing to learn what the metaverse is and how it will benefit them, most are still joining these projects out of curiosity.
📈 dYdX (DYDX), Moderate Volatility and Rising Sunday
dYdX (DYDX) has been relatively average in terms of volatility when compared to other cryptocurrencies. So far Sunday, the Derivatives has added 27.25% to $2.42. The Volatility Gauge analyzes this means that the rank represents its recent trends and isn't overly influenced by a sudden spike - or two - in volatility. DYDX's moderate volatility reading is coupled with a low reading on the Risk/Reward Gauge, meaning that the token has moderate price swings and is well protected from price manipulation. dYdX price is trading above resistance. With support near $1.74 and resistance near $2.07. This leaves dYdX out of range and potentially in a volatile position if the rally burns out.
dYdX (DYDX) has been relatively average in terms of volatility when compared to other cryptocurrencies. So far Sunday, the Derivatives has added 27.25% to $2.42. The Volatility Gauge analyzes this means that the rank represents its recent trends and isn't overly influenced by a sudden spike - or two - in volatility. DYDX's moderate volatility reading is coupled with a low reading on the Risk/Reward Gauge, meaning that the token has moderate price swings and is well protected from price manipulation. dYdX price is trading above resistance. With support near $1.74 and resistance near $2.07. This leaves dYdX out of range and potentially in a volatile position if the rally burns out.
💰 Uniswap Overtakes Coinbase as Second-Largest Exchange Trading Ethereum Today
Traders are flocking to decentralized exchanges (DEXs) in the wake of FTX’s sudden, catastrophic implosion. One DEX, in particular, has risen overnight to become the world’s second-largest venue for trading Ethereum: Uniswap. Uniswap inventor Hayden Adams shared the news on Twitter today, citing analysis by Nansen CEO Alex Svanevik. DEXs let customers trade crypto while retaining full control over their funds, unlike centralized platforms, providing a greater level of protection against withdrawal freezes or network outages. At the time of tweeting, Uniswap had hosted north of $1 billion in Ethereum trades in the last 24 hours, nearly double the volume of Coinbase, the second-largest centralized exchange (CEX) in the world by total trading volume.
Traders are flocking to decentralized exchanges (DEXs) in the wake of FTX’s sudden, catastrophic implosion. One DEX, in particular, has risen overnight to become the world’s second-largest venue for trading Ethereum: Uniswap. Uniswap inventor Hayden Adams shared the news on Twitter today, citing analysis by Nansen CEO Alex Svanevik. DEXs let customers trade crypto while retaining full control over their funds, unlike centralized platforms, providing a greater level of protection against withdrawal freezes or network outages. At the time of tweeting, Uniswap had hosted north of $1 billion in Ethereum trades in the last 24 hours, nearly double the volume of Coinbase, the second-largest centralized exchange (CEX) in the world by total trading volume.
💰 Uniswap Overtakes Coinbase as Second-Largest Exchange Trading Ethereum Today
Traders are flocking to decentralized exchanges (DEXs) in the wake of FTX’s sudden, catastrophic implosion. One DEX, in particular, has risen overnight to become the world’s second-largest venue for trading Ethereum: Uniswap. Uniswap inventor Hayden Adams shared the news on Twitter today, citing analysis by Nansen CEO Alex Svanevik. DEXs let customers trade crypto while retaining full control over their funds, unlike centralized platforms, providing a greater level of protection against withdrawal freezes or network outages. At the time of tweeting, Uniswap had hosted north of $1 billion in Ethereum trades in the last 24 hours, nearly double the volume of Coinbase, the second-largest centralized exchange (CEX) in the world by total trading volume.
Traders are flocking to decentralized exchanges (DEXs) in the wake of FTX’s sudden, catastrophic implosion. One DEX, in particular, has risen overnight to become the world’s second-largest venue for trading Ethereum: Uniswap. Uniswap inventor Hayden Adams shared the news on Twitter today, citing analysis by Nansen CEO Alex Svanevik. DEXs let customers trade crypto while retaining full control over their funds, unlike centralized platforms, providing a greater level of protection against withdrawal freezes or network outages. At the time of tweeting, Uniswap had hosted north of $1 billion in Ethereum trades in the last 24 hours, nearly double the volume of Coinbase, the second-largest centralized exchange (CEX) in the world by total trading volume.
🪙 FTX hacker begins possible Pump & Dump scam as troll messages & cryptic tokens sent to Uniswap
The FTX Hacker address — 0x59AB…fd32b — is sending cryptic tokens, including one labeled “WHAT HAPPENED” to addresses across the blockchain, including exchanges, Vitalik, and Uniswap.A deeper analysis of the on-chain transactions by CryptoSlate revealed the messages have been going on for multiple days using newly created tokens such as “WHAT HAPPENED,” “CRO NEXT,” and “FTX SUCKS.”The image below showcases the token, “WHAT HAPPENED,” which was created at 9.40 AM GMT and minted directly to the FTX Hacker’s address with a supply of 1 billion tokens. Within 2 minutes, 90% of the tokens were sent to the Uniswap V2 contract, with many others distributed among other addresses linked to the Hacker.
The FTX Hacker address — 0x59AB…fd32b — is sending cryptic tokens, including one labeled “WHAT HAPPENED” to addresses across the blockchain, including exchanges, Vitalik, and Uniswap.A deeper analysis of the on-chain transactions by CryptoSlate revealed the messages have been going on for multiple days using newly created tokens such as “WHAT HAPPENED,” “CRO NEXT,” and “FTX SUCKS.”The image below showcases the token, “WHAT HAPPENED,” which was created at 9.40 AM GMT and minted directly to the FTX Hacker’s address with a supply of 1 billion tokens. Within 2 minutes, 90% of the tokens were sent to the Uniswap V2 contract, with many others distributed among other addresses linked to the Hacker.
🪙 Uniswap website goes dark for some users after Cloudflare routing problem
Uniswap, the biggest decentralized exchange (DEX) for crypto, is suffering an outage affecting some users caused by a routing problem at internet infrastructure firm Cloudflare. In a Reddit post, the Uniswap team advised users to connect to the protocol via its IPFS link. IPFS stands for interplanetary file system and is a decentralized file storage protocol that powers connections on peer-to-peer networks. The Uniswap website currently loads as a blank page when opened by some users — while others appear unaffected. Users have reported that the issue has been ongoing for more than four hours as of the time of publishing. The project’s official Discord addressed the issue, blaming Cloudflare, a tool that enables secure connections on the internet.
Uniswap, the biggest decentralized exchange (DEX) for crypto, is suffering an outage affecting some users caused by a routing problem at internet infrastructure firm Cloudflare. In a Reddit post, the Uniswap team advised users to connect to the protocol via its IPFS link. IPFS stands for interplanetary file system and is a decentralized file storage protocol that powers connections on peer-to-peer networks. The Uniswap website currently loads as a blank page when opened by some users — while others appear unaffected. Users have reported that the issue has been ongoing for more than four hours as of the time of publishing. The project’s official Discord addressed the issue, blaming Cloudflare, a tool that enables secure connections on the internet.
Accedo launches metaverse solution for sports
The new solution is designed to enable sports organisations to easily create new metaverse experiences by simply embedding existing web-based applications into a metaverse environment. As a modular solution, rights holders and broadcasters can choose only the add-ons they require.
The new solution also builds on Accedo’s immersive experience to bring sports to the metaverse. Powered by Amazon Web Services (AWS), the software is designed to enables remote configuration and customisation. Video hosting, encoding and streaming is all managed using AWS Media Services, enabling sports organisations to create high quality XR content.
The new solution is designed to enable sports organisations to easily create new metaverse experiences by simply embedding existing web-based applications into a metaverse environment. As a modular solution, rights holders and broadcasters can choose only the add-ons they require.
The new solution also builds on Accedo’s immersive experience to bring sports to the metaverse. Powered by Amazon Web Services (AWS), the software is designed to enables remote configuration and customisation. Video hosting, encoding and streaming is all managed using AWS Media Services, enabling sports organisations to create high quality XR content.
📊FTX Collapse Will Spur Move to Decentralized Exchanges, Franklin’s CEO Says
Franklin Templeton’s Jenny Johnson sees the downfall of FTX likely pushing investors toward decentralized exchanges and to seek professional guidance on crypto assets. The failure of the centralized exchange would drive crypto investors toward versions like Uniswap or SushiSwap, which are built on public chains, Franklin’s president and chief executive officer told Bloomberg News on Wednesday.
Franklin Templeton’s Jenny Johnson sees the downfall of FTX likely pushing investors toward decentralized exchanges and to seek professional guidance on crypto assets. The failure of the centralized exchange would drive crypto investors toward versions like Uniswap or SushiSwap, which are built on public chains, Franklin’s president and chief executive officer told Bloomberg News on Wednesday.