Indonesian central bank’s CBDC can be used in metaverse
Bank Indonesia (BI), the central bank of the Republic of Indonesia, has announced that its central bank digital currency (CBDC) will be used in the metaverse, a move that is highly bullish for blockchain networks that host the biggest metaverse ecosystems including Polygon.
Reuters reports that the BI governor Perry Warjiyo made the announcement during an event, adding that the central bank planned for the digital rupiah currency can also be compatible with other central banks’ digital currencies in the future. exchange rate for digital currencies and its operational risks and capital flow supervision.
Bank Indonesia (BI), the central bank of the Republic of Indonesia, has announced that its central bank digital currency (CBDC) will be used in the metaverse, a move that is highly bullish for blockchain networks that host the biggest metaverse ecosystems including Polygon.
Reuters reports that the BI governor Perry Warjiyo made the announcement during an event, adding that the central bank planned for the digital rupiah currency can also be compatible with other central banks’ digital currencies in the future. exchange rate for digital currencies and its operational risks and capital flow supervision.
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📣 Decentralized Exchange GMX Flips Uniswap in Daily Revenue for First Time Ever
Decentralized exchange GMX has seen a material increase since the FTX implosion establishing itself as a notable market contender.Delphi Digital reported that the platform raked in $1.15 million in trading fees, while that of Uniswap stood at $1.06 million.Moreover, GMX is now the fifth-largest decentralized application on Token Terminal’s dashboard, trailing behind already established players such as Ethereum, OpenSea, dYdX, and PancakeSwap.Formerly known as Gambit Exchange, GMX is essentially a trading platform initially launched on Arbitrum One last September and later this year on Avalanche.
Decentralized exchange GMX has seen a material increase since the FTX implosion establishing itself as a notable market contender.Delphi Digital reported that the platform raked in $1.15 million in trading fees, while that of Uniswap stood at $1.06 million.Moreover, GMX is now the fifth-largest decentralized application on Token Terminal’s dashboard, trailing behind already established players such as Ethereum, OpenSea, dYdX, and PancakeSwap.Formerly known as Gambit Exchange, GMX is essentially a trading platform initially launched on Arbitrum One last September and later this year on Avalanche.
🪙 0xPlasma Labs proposes Uniswap v3 deployment to BNB Chain
The CEO of 0xPlasma Labs, Ilia, has proposed deploying Uniswap v3 to BNB Chain (Binance), which could bring in an additional $1 billon in Total Value Locked (TVL) and 1-2 million new users. Currently, the proposal is in the discussion stage. Ilia, a long-time supporter and contributor to the Uniswap ecosystem, proposed discussing the possibility of deploying Uniswap v3 on the BNB Chain with the community. Ilia discussed the “miss opportunity” for Uniswap, suggesting the platform could “expand its reach and potentially drive further growth and adoption of DeFi.”
The CEO of 0xPlasma Labs, Ilia, has proposed deploying Uniswap v3 to BNB Chain (Binance), which could bring in an additional $1 billon in Total Value Locked (TVL) and 1-2 million new users. Currently, the proposal is in the discussion stage. Ilia, a long-time supporter and contributor to the Uniswap ecosystem, proposed discussing the possibility of deploying Uniswap v3 on the BNB Chain with the community. Ilia discussed the “miss opportunity” for Uniswap, suggesting the platform could “expand its reach and potentially drive further growth and adoption of DeFi.”
💰 SushiSwap CEO reveals DEX lost $30M on LP incentives this year
According to a new tweet by SushiSwap CEO Jared Grey, the decentralized exchange (DEX) experienced a $30 million loss over the past 12 months on incentives for liquidity providers (LPs). As explained by Grey, SushiSwap currently employs a token-based emission strategy to incentivize LPs, but the current rate is “unsustainable.”Moving forward, Grey plans to rework SushiSwap’s tokenomics so that LPs are no longer subsidized with emissions and redesign the entire model of bootstrapping liquidity on the exchange. “In Q1 2023, we will bring innovation to scale swap volume & prioritize TVL. As LPs experience a more profitable swap experience, others should migrate to Sushi,” wrote the DEX executive.
According to a new tweet by SushiSwap CEO Jared Grey, the decentralized exchange (DEX) experienced a $30 million loss over the past 12 months on incentives for liquidity providers (LPs). As explained by Grey, SushiSwap currently employs a token-based emission strategy to incentivize LPs, but the current rate is “unsustainable.”Moving forward, Grey plans to rework SushiSwap’s tokenomics so that LPs are no longer subsidized with emissions and redesign the entire model of bootstrapping liquidity on the exchange. “In Q1 2023, we will bring innovation to scale swap volume & prioritize TVL. As LPs experience a more profitable swap experience, others should migrate to Sushi,” wrote the DEX executive.
Sam Bankman-Fried has just been arrested by Bahamian Authorities.
Bahamas Attorney General Ryan Pinder said that the United States had filed unspecified criminal charges against Bankman-Fried and was “likely to request his extradition.”
In a statement, Bahamian Prime Minister Philip Davis said, “The Bahamas and the United States have a shared interest in holding accountable all individuals associated with FTX who may have betrayed the public trust and broken the law.”
“While the United States is pursuing criminal charges against SBF individually, The Bahamas will continue its own regulatory and criminal investigations into the collapse of FTX, with the continued cooperation of its law enforcement and regulatory partners in the United States and elsewhere,” continued the statement.
Bahamas Attorney General Ryan Pinder said that the United States had filed unspecified criminal charges against Bankman-Fried and was “likely to request his extradition.”
In a statement, Bahamian Prime Minister Philip Davis said, “The Bahamas and the United States have a shared interest in holding accountable all individuals associated with FTX who may have betrayed the public trust and broken the law.”
“While the United States is pursuing criminal charges against SBF individually, The Bahamas will continue its own regulatory and criminal investigations into the collapse of FTX, with the continued cooperation of its law enforcement and regulatory partners in the United States and elsewhere,” continued the statement.
📣 E-Verse Successfully Launched First Metaverse Concert for Neha and Tony Kakkar's 100 Million Global Fans
E-verse, a Singapore-based blockchain super eco-system successfully held the biggest Metaverse concert "Musically Yours by the Kakkars" recently in November 2022 which featured India's number 1 top streaming artist Neha Kakkar and singer song-writer Tony Kakkar.
The ticketed concert event, which was live streamed at nehatony.everseapp.com, was a celebration of Bollywood fandom and cutting-edge technology. It offered an array of premium-built experiences for the stars' hardcore fans through combining real-world experiences and the Metaverse into a seamless environment. E-Verse continues to trailblaze web3 utility and entertainment.
E-verse, a Singapore-based blockchain super eco-system successfully held the biggest Metaverse concert "Musically Yours by the Kakkars" recently in November 2022 which featured India's number 1 top streaming artist Neha Kakkar and singer song-writer Tony Kakkar.
The ticketed concert event, which was live streamed at nehatony.everseapp.com, was a celebration of Bollywood fandom and cutting-edge technology. It offered an array of premium-built experiences for the stars' hardcore fans through combining real-world experiences and the Metaverse into a seamless environment. E-Verse continues to trailblaze web3 utility and entertainment.
🪙 Uniswap Holders Vote on Governance Shakeup To Avoid Bad Ideas
The Uniswap Foundation is hoping to revamp the popular decentralized exchange’s governance process, giving community members more time to discuss and gauge proposals.As is the case with DAOs, holders of Uniswap’s native token UNI can vote on potential adjustments to the protocol. They can also delegate their tokens to a third party who votes on their behalf.As is the case with DAOs, holders of Uniswap’s native token UNI can vote on potential adjustments to the protocol. They can also delegate their tokens to a third party who votes on their behalf.Devin Walsh, executive director of Uniswap Foundation, said in a post that lengthening the first period would allow the community to properly formulate opinions and provide better suggestions.
The Uniswap Foundation is hoping to revamp the popular decentralized exchange’s governance process, giving community members more time to discuss and gauge proposals.As is the case with DAOs, holders of Uniswap’s native token UNI can vote on potential adjustments to the protocol. They can also delegate their tokens to a third party who votes on their behalf.As is the case with DAOs, holders of Uniswap’s native token UNI can vote on potential adjustments to the protocol. They can also delegate their tokens to a third party who votes on their behalf.Devin Walsh, executive director of Uniswap Foundation, said in a post that lengthening the first period would allow the community to properly formulate opinions and provide better suggestions.
🤟 NFT Sales This Week Jumped 27% Higher, Cryptopunks Rise Above Bored Apes
On Dec. 14, 2022, statistics show that non-fungible token (NFT) sales jumped 27.72% higher than NFT sales recorded last week. The Bored Ape Yacht Club (BAYC) NFT collection captured the most sales this week but on Wednesday afternoon, the floor value tied to Cryptopunks.
Once again Ethereum NFT sales dominate as the chain saw $129.99 million in NFT sales out of the $154 million seven-day aggregate. NFT sales from ETH jumped 37.73% higher than ETH-based NFT sales last week. Besides Ethereum, NFT sales from Solana, Immutable X, Polygon, and Cardano followed. In addition to Ethereum’s NFT sales increase, Immutable X NFT sales rose 5.20% higher than the week prior.
On Dec. 14, 2022, statistics show that non-fungible token (NFT) sales jumped 27.72% higher than NFT sales recorded last week. The Bored Ape Yacht Club (BAYC) NFT collection captured the most sales this week but on Wednesday afternoon, the floor value tied to Cryptopunks.
Once again Ethereum NFT sales dominate as the chain saw $129.99 million in NFT sales out of the $154 million seven-day aggregate. NFT sales from ETH jumped 37.73% higher than ETH-based NFT sales last week. Besides Ethereum, NFT sales from Solana, Immutable X, Polygon, and Cardano followed. In addition to Ethereum’s NFT sales increase, Immutable X NFT sales rose 5.20% higher than the week prior.
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Former President Donald Trump has launched an NFT trading card collection.
📣 Centralized Crypto Exchange Bybit Integrates Decentralized Exchange ApeX Pro Onto Platform
Dubai-based centralized crypto exchange Bybit has integrated decentralized exchange ApeX Pro into its offering in an effort to give customers the opportunity to trade on both types of exchanges on one platform, Bybit said Thursday.ApeX Pro is a permissionless, non-custodial, decentralized exchange (DEX) offering perpetual contracts using StarkWare's scalability engine, StarkEx. It’s being brought onto the Bybit platform via its Web3 wallet, which is a hybrid wallet – similar to MetaMask – that doesn’t store client personal detail's.
Dubai-based centralized crypto exchange Bybit has integrated decentralized exchange ApeX Pro into its offering in an effort to give customers the opportunity to trade on both types of exchanges on one platform, Bybit said Thursday.ApeX Pro is a permissionless, non-custodial, decentralized exchange (DEX) offering perpetual contracts using StarkWare's scalability engine, StarkEx. It’s being brought onto the Bybit platform via its Web3 wallet, which is a hybrid wallet – similar to MetaMask – that doesn’t store client personal detail's.
💰 Solana DeFi Exchange Raydium Hacked for Over $2 Million
After struggling to recover from debilitating damage wrought on the network by the stunning downfall of one of its most prominent backers, disgraced FTX founder Sam Bankman-Fried, Solana has now suffered a significant hack to one of its largest DeFi .Early Friday, Solana DeFi protocol Raydium announced that a hacker had managed to overtake the organization’s “owner authority,” and used that access to begin draining Raydium’s liquidity pools. DeFi tools allow users to trade, borrow, and lend crypto assets among each other, without third-party intermediaries. And automated market makers like Raydium accomplish this by allowing users to contribute assets to a pool, often in exchange for token rewards.
After struggling to recover from debilitating damage wrought on the network by the stunning downfall of one of its most prominent backers, disgraced FTX founder Sam Bankman-Fried, Solana has now suffered a significant hack to one of its largest DeFi .Early Friday, Solana DeFi protocol Raydium announced that a hacker had managed to overtake the organization’s “owner authority,” and used that access to begin draining Raydium’s liquidity pools. DeFi tools allow users to trade, borrow, and lend crypto assets among each other, without third-party intermediaries. And automated market makers like Raydium accomplish this by allowing users to contribute assets to a pool, often in exchange for token rewards.
🇷🇺 Vkontakte, a Russian social media platform, launches NFT service
Vkontakte, dubbed the largest social media in Russia, allows users to display their NFTs on the platform. The update will enable holders of collectibles to use them as avatars on their profile by connecting their NFT wallets to user accounts on Vkontakte.
The social media company also alerted its users that beyond the NFT display feature, an NFT marketplace will be launched soon where NFTs can be traded between users on the same platform. This will come alongside Vkontakte’s first NFT collection. Vkontakte introduced an educational course on non-fungible tokens to aid the understanding of Web3 tools for its users.
Vkontakte, dubbed the largest social media in Russia, allows users to display their NFTs on the platform. The update will enable holders of collectibles to use them as avatars on their profile by connecting their NFT wallets to user accounts on Vkontakte.
The social media company also alerted its users that beyond the NFT display feature, an NFT marketplace will be launched soon where NFTs can be traded between users on the same platform. This will come alongside Vkontakte’s first NFT collection. Vkontakte introduced an educational course on non-fungible tokens to aid the understanding of Web3 tools for its users.
📣 Torah Finance: Decentralized Exchange for Liquidity Providers, Free Airdrops for $CRV, $UNI Holders
2022 has been an eye-opening experience for the collective crypto industry. Major organizations that demonstrated strength and profitability in 2020-2021, faced massive setbacks that pushed certain associations toward bankruptcy. One of the major examples was FTX, the centralized exchange which faced a liquidity crisis and eventually collapsed. The incident highlighted issues with liquid funds, which re-opened the debate about whether decentralized exchanges are the better option.Now, Torah Finance is creating a solution that will allow better control over digital assets while allowing users to be assured about their funds.
2022 has been an eye-opening experience for the collective crypto industry. Major organizations that demonstrated strength and profitability in 2020-2021, faced massive setbacks that pushed certain associations toward bankruptcy. One of the major examples was FTX, the centralized exchange which faced a liquidity crisis and eventually collapsed. The incident highlighted issues with liquid funds, which re-opened the debate about whether decentralized exchanges are the better option.Now, Torah Finance is creating a solution that will allow better control over digital assets while allowing users to be assured about their funds.
Metaverse experience to sway real-world travel choices in 2023: Survey
COVID-induced travel restrictions, the Metaverse, one of the latest sub-crypto ecosystems, is set to help travelers decide on the destinations they want to experience in person, reveals a new survey conducted by Booking.com personally.
Popular online travel agency Booking.com surveyed 24,179 respondents across 32 countries, which revealed travelers’ strong interest in virtually exploring destinations as they decide on their itinerary. Out of the lot, people most likely to try out travel experiences in the metaverse were Gen Z (45%) and Millennials (43%). 43% of the respondents, confirmed their will to use virtual reality.
COVID-induced travel restrictions, the Metaverse, one of the latest sub-crypto ecosystems, is set to help travelers decide on the destinations they want to experience in person, reveals a new survey conducted by Booking.com personally.
Popular online travel agency Booking.com surveyed 24,179 respondents across 32 countries, which revealed travelers’ strong interest in virtually exploring destinations as they decide on their itinerary. Out of the lot, people most likely to try out travel experiences in the metaverse were Gen Z (45%) and Millennials (43%). 43% of the respondents, confirmed their will to use virtual reality.
💰 Sushi DAO votes to send all fees to treasury but it was a fight between whales
Two large entities effectively decided the Sushi DAO vote to direct all fees generated by the SushiSwap decentralized exchange to the protocol’s treasury. The move will mean that sushi token holders will no longer receive rewards from trading fees on the exchange. GoldenChain, the digital investment arm of venture capital outfit Golden Tree, and a wallet closely tied to crypto trading firm Cumberland were the two entities. Together, they contributed 10 million sushipowah tokens — the Sushi DAO governance token — to push through the vote, according to data from the Snapshot voting page. Their combined voting power accounted for 91%.
Two large entities effectively decided the Sushi DAO vote to direct all fees generated by the SushiSwap decentralized exchange to the protocol’s treasury. The move will mean that sushi token holders will no longer receive rewards from trading fees on the exchange. GoldenChain, the digital investment arm of venture capital outfit Golden Tree, and a wallet closely tied to crypto trading firm Cumberland were the two entities. Together, they contributed 10 million sushipowah tokens — the Sushi DAO governance token — to push through the vote, according to data from the Snapshot voting page. Their combined voting power accounted for 91%.
📣 Cosmos Omni-Chain DEX Sifchain’s RedStarling Validator Shutting Down
The core developer of Cosmos Omni-Chain Decentralized Exchange, Sifchain, said that the RedStarling validator will be shutting down. As per a message on RedStarling’s website, Sifcore employees have been abruptly stopped from receiving wages since mid-October. As a result, employees were suggested to shift their assets to other Cosmos Dex.The post further said anyone with assets on the Sifchain’s Peggy Bridge is recommended to “get them off” as soon as possible. The post claimed that the Peggy Bridge is under Jazear’s control.The post Cosmos Omni-Chain DEX Sifchain’s RedStarling Validator Shutting Down appeared first on Coin Edition.
The core developer of Cosmos Omni-Chain Decentralized Exchange, Sifchain, said that the RedStarling validator will be shutting down. As per a message on RedStarling’s website, Sifcore employees have been abruptly stopped from receiving wages since mid-October. As a result, employees were suggested to shift their assets to other Cosmos Dex.The post further said anyone with assets on the Sifchain’s Peggy Bridge is recommended to “get them off” as soon as possible. The post claimed that the Peggy Bridge is under Jazear’s control.The post Cosmos Omni-Chain DEX Sifchain’s RedStarling Validator Shutting Down appeared first on Coin Edition.