In an announcement that is set to shake the decentralized finance (DeFi) world, FortifiedX has revealed the details of its upcoming presale, scheduled to commence on June 26th, 2024. This highly anticipated event promises to position FortifiedX as a significant player in the DeFi sector, offering innovative solutions designed to empower and benefit the crypto community.

BIRMINGHAM, ENGLAND / ACCESSWIRE / June 22, 2024 / In a significant move set to transform the decentralized finance (DeFi) landscape, FortifiedX is thrilled to announce the commencement of its presale on June 26th, 2024. With a comprehensive roadmap and innovative offerings, FortifiedX aims to empower the crypto community and drive forward the next wave of financial technology.

FortifiedX, a rising star in the DeFi sector, is launching its presale with a total allocation of 120 million FXAS tokens. The presale will be conducted in four progressive rounds, ensuring ample opportunity for participation and growth. The first round will release 2 million tokens, setting the stage for the subsequent rounds with increasing token amounts to meet the high demand. The detailed presale structure is as follows:

Round 1: 2 million tokens

Round 2: 10 million tokens

Round 3: 18 million tokens

Round 4: 90 million tokens

The presale will take place on PinkSale, a leading launchpad for new and promising blockchain projects, ensuring a secure and transparent process for all participants. The proceeds from the presale will be strategically utilized to enhance the FortifiedX ecosystem, driving innovation and delivering value to the community.

FortifiedX: A Pioneer in DeFi Innovation

FortifiedX is not just another player in the DeFi space; it is a pioneering force committed to delivering cutting-edge financial solutions. The project is backed by a dedicated management and technical team, which has meticulously developed a robust business model canvas and planned the release of a comprehensive whitepaper.

Key Features of FortifiedX

Fortified X Credit Card: A secured credit solution requiring users to provide assets equivalent to their desired credit limit. This card caters to individuals with limited or poor credit history, offering them a reliable financial tool.

Fortified X Mobile Application: Designed for global access, this app ensures secure trading from anywhere, catering to a diverse user base.

Token Burn Mechanism: To maintain value and reduce supply, tokens left after the Seed Sale, Private Sale, and Presale Rounds will be burned at pre-decided events, ensuring long-term sustainability.

Revolutionary Product Lineup

FortifiedX is proud to present a trio of revolutionary products:

Fortified X Exchange: An intuitive platform for seamless trading of digital assets.

Fortified X Wallet: A secure and user-friendly digital wallet for storing and managing various cryptocurrencies.

Fortified X DeFi Protocol: A comprehensive protocol enabling users to participate in staking, lending, and other DeFi activities.

Each product is meticulously designed to offer unparalleled security, efficiency, and ease of use, driving forward the DeFi revolution.

Ecosystem Excellence

The FortifiedX ecosystem is a testament to its commitment to innovation and user satisfaction. The ecosystem features include:

Robust Security: Ensuring the highest standards of safety for all users.

User-Centric Design: Intuitive interfaces for seamless user experiences.

Scalability: Capable of handling increasing demand without compromising performance.

Community Engagement: Active involvement and feedback integration from the community.

Sustainable Growth: Focused on long-term value and sustainability.

Join the FortifiedX Revolution

As the presale date approaches, FortifiedX invites the global crypto community to participate and become part of this groundbreaking journey. With its innovative solutions, dedicated team, and clear vision, FortifiedX is set to make a significant impact on the DeFi space.

Stay tuned for more updates and join us in revolutionizing decentralized finance. For more information and to participate in the presale, visit PinkSale.

About FortifiedX

FortifiedX is a forward-thinking DeFi project dedicated to delivering innovative financial solutions. By leveraging blockchain technology, FortifiedX aims to create a secure, efficient, and user-friendly ecosystem that empowers individuals and drives the future of finance.

For media inquiries, please contact: admin@fortifiedx.xyz

Media Contact Organization: Fortified X Contact Person: DAVE AKINGBOYE Website: https://fortifiedx.xyz/ Email: admin@fortifiedx.xyz City: Birmingham Country: United Kingdom

SOURCE: Fortified X

View the original press release on accesswire.com

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FortifiedX Announces Highly Anticipated Presale on June 26th: A Leap Towards Revolutionizing DeFi - Markets Insider

Hong Kong, Hong Kong, June 20th, 2024, Chainwire

Zeek, a decentralized collaboration network for on-chain social bounty and reputation, has successfully completed a USD 3M seed funding round ahead of its official launch in July.

Investors include OKX Ventures (as part of its strategic investment in Everest Venture Groups consumer-oriented products, which includes Zeek), Animoca Brands, Mask Network, Arche Fund, Summer Ventures, Blockchain Coinvestors, Aspen Digital, CatcherVC, Panony, Spacebar, Hardbank and super angels including Jason Kam of Folius Ventures, Ivan Li of Comma3 Ventures and Donny Chi of WeMade.

Backing the Zeek team resonates with our goal of supporting bold founders in building the future of the open internet, and it is definitely an exciting opportunity to participate in the nascent growth of something new in the SocialFi space. Our confidence in the teams vision and execution capabilities strengthens our commitment to helping their growth, said Thanh Le, the Founder of Nighty Eight.

We see significant potential in consumer-oriented initiatives like Zeek that blend real use cases with gamified experiences in social and gaming contexts. Zeeks decentralized collaboration economy promotes organic collaboration through on-chain bounties. By monetizing the idle value of social networks and personal skills, it creates new opportunities for all participants. We are confident that this will make disruptive technologies accessible and enjoyable for mainstream audiences, said Suji Yan, the Founder & CEO of Mask Network.

In the world of Web3, users are constantly encouraged to do their due diligence before trusting a person, platform, or any information they see, which is easier said than done. Zeek aims to solve this through its on-chain reputation construct, recognizing users who create value through social collaboration.

Powered by OpenSocial Protocol, Zeek is a social network that allows users to unlock the value of their intelligence, network, access, and time through on-chain social bounty mechanics and reputation called Wish and Rizz.

Social value is created as users create and participate in Wishes, which can be applied for different purposes, whether to seek out information and insight or expand your network and connections. Users will then be able to gain Rizz through contributions and engagements in the network, which will naturally construct a social reputation layer for everyone and act as an on-chain recognition of the social value the user creates.

Rizz is an embodiment of karma whereby the more you give, the more you should be given in forms of economic incentive and measurable influence. Zeeks product and token are designed to foster such collaboration and construction of on-chain reputation.

With Zeek, users will be able to check the reliability of a person based on the reputation they have built, creating a whole new way to enforce trust in the Web3 world.

The future of SocialFi is to create new social economies through the financialization of existing social behaviors and hence, we have built Zeek as we believe the endgame of SocialFi is the reputation layer, which bridges the gap between social influence and on-chain identities, said Angus Ko, CEO of Zeek.

Zeek is anticipated to officially launch in July, with its Private Beta running from the present until the launch date. Currently, users are able to pre-register via their X and Discord accounts here. Additionally, Zeeks Tier-0 Genesis NFT collection, limited to 250, will be dropped later this month.

Zeek is a decentralized collaboration economy incentivizing reputation, and powered by innovative social bounty mechanics called Wishes. Individual behaviors and engagements contribute to the construction of a reputation layer called Rizz, which can be monetized and utilized to gauge credibility, reliability, and influence.

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PR Manager Kelvin Yeo Everest Ventures Group kelvin.yeo@evg.co

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Zeek, a New Decentralized Social Collaboration Network, Raises USD 3M Seed Funding To Reinvent Social ... - DailyCoin

BlockDAG is making significant strides in the cryptocurrency market, supported by endorsements from top crypto influencers. This has fueled investor interest, which is evident in its Batch 18 presale. The coins price has surged to $0.0122, an 1120% increase from its initial Batch 1 price, raising $51.4 million. This success has also boosted sales of the X100 miner rig, with 7200 units sold, generating $3.1 million.

In addition, Bitcoin Cash (BCH) has seen a 2% rise following Roger Vers release from prison, reflecting his influence on the cryptocurrency. Kaspa (KAS) also shows potential, with analysts predicting significant price increases due to its unique codebase and scalability. Investing in these projects could yield substantial returns.

BlockDAG is rapidly establishing itself as a major player in the cryptocurrency world, fueled by endorsements from influential figures in the crypto space. This support has significantly boosted investor interest, evident in its ongoing Batch 18 presale. The coins price has soared to $0.0122, a remarkable 1120% increase from its initial Batch 1 price. The presale has raised an impressive $51.4 million, highlighting its growing appeal.

Additionally, the presale has spurred sales of the X100 miner rig, with 7800 units sold, generating $3.1 million. The X100, known for its high performance, offers a hash rate of 2 TH/s and consumes 1800W of power, making it ideal for both small and large-scale mining. This rig can produce up to 2,000 BDAG daily, attracting investors seeking substantial returns.

BlockDAGs eco-friendly and efficient mining solutions, focusing on energy conservation and reduced noise pollution, set it apart from competitors. This commitment to sustainability appeals to environmentally conscious miners, enhancing BlockDAGs overall quality. Furthermore, the keynote highlighted BlockDAGs low code/no-code platform, which is aimed at simplifying decentralized application development.

This feature enables non-developers to create and manage applications, making blockchain technology more accessible. With a comprehensive roadmap and continuous enhancements, BlockDAG is set to become a leader in decentralized innovation all attractiveness as an investment.

Bitcoin Cash (BCH) saw a 2% rise following the release of its proponent, Roger Ver, from a Spanish prison. Ver, known as Bitcoin Jesus, was granted bail but still faces extradition to the US for tax evasion and mail fraud charges. Despite these legal challenges, his release has had a positive impact on BCH, reflecting Vers influence on the cryptocurrency. With BCH already experiencing a 14% surge to a two-year high of $700 after its recent halving event, this news adds further momentum. Investors should consider BCHs potential for continued growth, driven by significant market events and strong community support.

Kaspa (KAS) has reached a new all-time high of $0.192 before settling at $0.189, sparking significant interest among analysts. Experts forecast a substantial price increase, with some predicting a rise to $5 between July 2024 and 2025. This optimism is driven by Kaspas unique codebase overhaul and its alignment with Bitcoins original vision of electronic cash. Analysts highlight a Running Flat Pattern, signaling a potential bullish breakout. With its scalability and smart contract capabilities, Kaspa presents a strong investment opportunity. Investors should consider KAS for its promising growth prospects and innovative approach in the cryptocurrency space.

BlockDAGs impressive $51.4 million presale success, coupled with its eco-friendly and efficient mining solutions, positions it as a promising investment. Bitcoin Cash (BCH) shows potential for continued growth, especially following Roger Vers release, which has positively impacted its price. Kaspa (KAS) also offers significant growth opportunities, with analysts predicting substantial price increases due to its unique codebase and scalability.

Invest in the BlockDAG Presale Now:

Presale: https://purchase.blockdag.network

Website: https://blockdag.network

Telegram: https://t.me/blockDAGnetwork

Discord: https://discord.gg/Q7BxghMVyu

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BlockDAG Among The Top Decentralized Crypto For 2024; $51.4M Presale Crushes Kaspa Growth & Bitcoin Cash Price - Blockonomi

Dubai, UAE , June 19, 2024 (GLOBE NEWSWIRE) -- ZKX, the first Social Perp Trading DEX built on Starknet and Ethereum, has successfully raised a total of $7.6M to date with a new strategic round of funding from key investors such as Flowdesk, GCR, DeWhales and more. Previous investors include Hashkey, Amber Group, Crypto.com, and StarkWare.

The infusion of capital is set to accelerate the expansion of the ZKX Protocol. This will facilitate the introduction of new features such as social copy trade pools and the groundbreaking expansion into cross-chain interoperability, aligning with their vision of making perpetual swaps fun and accessible for all. The protocol is designed to make trading social with gamified trading battles of perpetual futures, leveraging its appchain to deliver unparalleled scalability and high-speed APIs.

They launched their native token, $ZKX, on KuCoin, Gate.io, and Bitget.The launch of the $ZKX token empowers ZKX users and community members to shape the direction of the protocol alongside the team.

Eduard Jubany Tur, Founder at ZKX, said,Two years ago, we launched ZKX with the goal of making DeFi accessible and social. Today, we celebrate a major milestone with the launch of the $ZKX token. This token isn't just a digital asset; its a way to reward the incredible contributions from our community members, users, and partners. It will play a key role in governance, staking, and growth of the ZKX ecosystem. We deeply appreciate the support of our investors who believe in our vision. This milestone marks the beginning of a transformative year for ZKX and our users.

Additional Launch Initiatives

The launch of $ZKX is accompanied by the launch of staking and airdrop. Starting on June 19th, users can stake $ZKX to earn a share of the platforms revenue. The staking plans are designed to incentivize a stable and committed user base, crucial for the platforms growth and sustainability.

Airdrop is set to reward active community members and early adopters. With a total supply of 100 million tokens, 33% will be unlocked at launch.

ZKX aims to expand its presence across multiple L1 and L2 blockchain ecosystems in 2024. To learn more about ZKX, please visithttps://zkx.fi/.

About ZKX: ZKX makes trading social with PVP battles and competitions for perpetual futures. Leveraging its appchain, ZKX delivers unparalleled scalability and high-speed APIs by combining the efficiency of centralized exchanges with the self-custody and trust of DeFi. ZKX is currently deployed on Ethereum and Starknet, and is leading the way where SocialFi meets DeFi.

Explore more athttps://zkx.fi/.

Media contact: Tanisha Kohli tanisha (at) zkx.fi

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First Social Decentralized Perpetual Exchange raised $7.6M in total, Introduces Governance Token - GlobeNewswire

Chainlink (LINK)'s Cross-Chain Interoperability Protocol (CCIP) leverages three critical architectural decisions to ensure advanced security and reliability in the blockchain ecosystem, according to the Chainlink Blog.

The first key decision involves a high level of decentralization. By distributing operations across a wide network of nodes, CCIP minimizes the risk of single points of failure. This approach enhances the protocol's resilience against potential attacks and operational disruptions.

Another significant feature is the inclusion of an independent risk management layer. This layer operates autonomously to continuously monitor and mitigate risks. It ensures that any anomalies or threats are detected and addressed promptly, thus maintaining the integrity and security of cross-chain transactions.

Lastly, client diversity plays a crucial role in CCIP's security architecture. By supporting multiple client implementations, the protocol prevents systemic vulnerabilities that could arise from a single codebase. This diversity ensures that even if one client is compromised, the overall system remains secure and functional.

These architectural decisions collectively contribute to a robust and secure cross-chain ecosystem, making CCIP a pivotal component in the blockchain infrastructure.

For more detailed information, visit the Chainlink Blog.

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Chainlink (LINK)'s CCIP Implements Key Security Features Through Decentralization and Risk Management - Blockchain.News

DeFi protocols have been setting the crypto space ablaze, with their total value locked skyrocketing past $100 billion. This explosive growth has been propelled by the allure of financial innovation, the tantalizing prospect of massive gains, and the ever-deepening integration with major blockchain ecosystems like Cosmos. As adoption and investment into these emerging DeFi protocols goes stratospheric, trailblazers like Elys Network are spearheading the charge.

Elys Network is unquestionably one of the most thrilling and ambitious projects tackling the insatiable demand for DeFi. They're unleashing an innovative layer-1 blockchain platform jam-packed with features like a non-custodial AMM-style DEX, perpetual trading capabilities, and game-changing liquidity and staking solutions. These cutting-edge offerings empower both crypto veterans and DeFi devs to tap into a comprehensive suite of financial artillery.

We sat down with Mitchell MishiNura, the founder of Elys Network to dissect how their platform benefits crypto users and DeFi developers, as well as the groundbreaking changes they're igniting across the decentralized finance landscape.

Elys Network is a high-performance decentralized exchange (DEX) platform designed to cater to both new and experienced crypto users. It simplifies the crypto trading experience with intuitive user interface (UI) and user experience (UX), providing a seamless trading environment comparable to centralized exchanges (CEX). For beginners, Elys Network offers easy onboarding through account abstraction and on-off ramping capabilities, allowing quick access to trading and earning. Experienced traders benefit from advanced tools and strategies within a feature-rich, user-friendly platform.

As a Layer-1 blockchain, Elys Network connects seamlessly with various ecosystems like Bitcoin, Ethereum and Ethereum L2s as well as Solana. Its integration with Cosmos SDK chains ensures cross-chain interoperability, providing access to a broad spectrum of trading opportunities. Elys Network's mission is to deliver an efficient and comprehensive trading experience for all crypto users, emphasizing user experience, advanced trading features, and extensive cross-chain functionality.

Elys Network addresses the fragmented DeFi landscape by offering a unified platform where users can access features like AMMs, perpetual exchanges, leverage LP, all in one place. It caters to both beginners and experts, streamlining the decentralized finance experience.

Elys has developed a Layer 1 blockchain optimized for trading, supporting all platform products and ensuring efficient user experience. The network's revenue model shares earnings among stakers and liquidity providers, enhancing each feature's utility and maximizing overall community returns.

By interconnecting its diverse features, Elys Network generates higher yields for users, distributing revenue in stablecoins to mitigate volatility. While holding the Elys token is optional, it maximizes yield opportunities. Elys Network aims to provide a comprehensive, user-friendly DeFi platform, offering seamless integration of various tools and unique value in the DeFi space.

Elys Network's open-sourced and decentralized architecture is designed to promote transparency, collaboration, and community-driven development. At the core of this approach is the use of a proof-of-stake chain built with the cosmos SDK, which fosters decentralization and empowers the community to shape the network's direction.

Every update and decision made by Elys Network will be voted on by stakeholders, ensuring that the community has a direct say in the platform's future. This commitment to decentralization is complemented by a strong emphasis on transparency and regulatory compliance. Elys Network prides itself on being among the most transparent projects implementing necessary measures to adhere to regulations.

The centrality of the community is a defining aspect of Elys Network's identity. The diverse community plays a significant role in shaping the future of the platform and actively guides newcomers in the ecosystem. Many users have joined thanks to the simplicity provided by the platform's wallet abstraction, and they are eager to delve deeper into the ecosystem created by Elys Network.

Elys Network actively collaborates with notable projects like Babylon, Lorenzo and Stride, continuously expanding its partnerships across various ecosystems to enhance its offerings and integrate more seamlessly with the broader DeFi landscape. This strategy ensures that Elys Network remains at the forefront of innovation, providing users with a robust, interconnected platform that maximizes their DeFi experience while maintaining transparency, decentralization, and community-driven development.

Elys Network's non-custodial Automated Market Maker (AMM) decentralized exchange (DEX) offers advanced features tailored for both crypto users and DeFi developers. Beyond a basic AMM, the DEX includes sophisticated tools to enhance trading efficiency and address common issues like impermanent loss (IL).

A standout feature is the Dynamic Weight Oracle Pools, which adapt weights based on buy and sell demand, minimizing IL compared to traditional fixed-weight pools. These pools also use vaults and adaptable fees to maintain balanced ratios and incentivize traders, simplifying the arbitrage process.

Another innovation is the Multi-Asset Pools, which support up to 8 assets and work like ETFs, allowing users to create diversified asset baskets with variable exposure. This provides a customizable investment approach, dense liquidity for the DEX, and stable USDC revenue for those seeking diversified exposure.

Elys Network's DEX facilitates trading with sophisticated tools for liquidity management and revenue generation, catering to diverse needs. Advanced features like Dynamic Weight Oracle Pools and Multi-Asset Pools empower users and developers with efficient trading, customizable investments, and revenue opportunities.

Elys Networks integration with the Cosmos ecosystem significantly enhances its decentralized exchange (DEX) capabilities by providing access to a wide range of projects and tools. Key integrations such as Lorenzo and Babylon enable native Bitcoin (BTC) integration and BTC liquid staking, crucial for robust DEX functionality.

Picasso offers Liquid Staking Tokens (LST) for Solana ecosystem tokens, facilitating seamless transfers between Solana and Cosmos through the secure Inter-Blockchain Communication (IBC) protocol. Additionally, Axelars integration supports cross-chain communication and asset transfers within the Ethereum Virtual Machine (EVM) ecosystem, allowing Elys Network to connect with EVM-based networks.

The integration with Noble ensures access to native USDC, enhancing stablecoin liquidity and simplifying cross-chain transactions. Beyond these integrations, the Cosmos ecosystem provides broader benefits such as Stride's liquid staking for tokens across the ecosystem, improving staking options and liquidity management. Particle Network's universal wallet and chain abstraction capabilities further streamline user experience and cross-chain interactions.

By leveraging the Cosmos ecosystem, Elys Network not only taps into Cosmos but also gains pathways to multiple blockchain ecosystems, creating a comprehensive and efficient DeFi platform. This interconnected approach is essential for providing a unified and versatile trading experience on the DEX.

Elys Network prioritizes accessibility, security, and scalability to drive widespread DeFi adoption. Leveraging the Cosmos ecosystem's proof-of-stake (PoS) model ensures robust security and flexibility through the customizable Cosmos SDK. This enables Elys to optimize its blockchain specifically for trading, addressing performance and scalability challenges.

A key feature is Interchain Security (ICS) V2, which secures Elys Network by utilizing part of the Cosmos Hub's validators and the market cap of ATOM, reducing incentive costs while maintaining high security. This innovative approach offers economic sustainability and lower security costs for projects.

Elys Network enhances accessibility by integrating account and chain abstraction, combined with a user interface similar to centralized exchanges (CEXs). This design simplifies user interaction, making the platform intuitive for all users and allowing seamless asset management and trading across different blockchains like Bitcoin / Solana / EVM chains without needing to understand their complexities.

These strategies underscore Elys Network's commitment to creating a user-friendly, secure, and scalable DeFi platform, bridging traditional and decentralized finance by harnessing the strengths of the Cosmos ecosystem while optimizing for trading needs.

Staking is central to Elys Network's Layer 1 blockchain, offering various innovative staking solutions to enhance user engagement and reward mechanisms. The platform provides multiple staking options to cater to different user preferences and incentivize participation across activities.

A notable feature is USDC staking, where users stake their USDC, making it available to leverage liquidity providers (LPs). USDC stakers earn yield from fees charged to LPs, thus contributing to the platform's liquidity and earning rewards.

Elys Network also includes an ELYS staking mechanism, where stakers receive a portion of the platform's daily revenue in stablecoins and additional incentives in EDEN, a reward token convertible to ELYS. This encourages ELYS holders to actively engage with and support the ecosystem.

The revenue distribution model is designed to reward various activities: liquidity providers earn a share of DEX revenue in USDC, USDC stakers gain interest from lending fees, and both ELYS and EDEN stakers receive a portion of DEX revenue in USDC.

By offering diverse and attractive staking options along with a robust revenue distribution model, Elys Network aims to build an engaging and rewarding ecosystem. This supports the platform's health, growth, and fosters a thriving decentralized finance (DeFi) environment.

Elys Network's ultimate goal is to bridge the gap between traditional finance and DeFi, fostering financial sovereignty for all. The platform's features empower users with complete freedom to make their own choices, without the restrictions of traditional finance, as long as the blockchain is running.

Respecting privacy, Elys Network does not require KYC from users, although some products may be geo-blocked to comply with regulations. The aim is to provide simple and complex solutions for all types of users, with easy on-boarding.

Compared to the typical 2% return offered by banks, Elys Network enables users to put their USDC to work for a much higher potential return, with the freedom to withdraw and deposit as desired, in just two clicks. These returns are based on the usage of the platform's features and increase with more users, distributed automatically on-chain, allowing users to collect earnings daily.

Elys Network believes this represents the evolution of decentralized finance: simple, effective, and universally accessible products that foster financial sovereignty for all.

Community-driven development plays a crucial role in ensuring a self-sustaining ecosystem for Elys Network.

We have already incorporated a significant amount of feedback from our users into recent updates. Every day, we gather feedback, evaluate it, and integrate valuable suggestions into our features. Listening to the community is key to delivering a product that meets user needs. This quality-driven approach is often overlooked in the web3 ecosystem, where user-friendly interfaces can sometimes be lacking. By prioritizing community input, we ensure that our platform is not only functional but also accessible and intuitive for everyone.

Regarding the potential groundbreaking changes Elys Network could bring to the decentralized finance ecosystem, one of our primary goals is ensuring accessibility for everyone, everywhere, to our DEX. We aim to defragment Web3, making it effortless and fast to trade tokens from various ecosystems, including Solana, Bitcoin, and any EVM chains. Elys Network is your gateway to a truly seamless and integrated DeFi world.

Our mission is to provide a unified platform that simplifies and streamlines the DeFi experience, regardless of the underlying blockchain technology. By bridging different ecosystems and offering a user-friendly interface, we aim to revolutionize the way users interact with decentralized finance.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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Pioneering the Future of Decentralized Finance: a Conversation with Mitchell MishiNura, the Founder of Elys Network - CryptoDaily

[PRESS RELEASE Singapore, Singapore, June 20th, 2024]

SphereX, a pioneering decentralized exchange (DEX), is thrilled to announce the launch of its testnet. This significant step forward invites crypto enthusiasts and traders to experience the innovative features of SphereX in a secure, simulated environment. The testnet launch marks a pivotal phase in SphereXs development, setting the stage for a new era in decentralized finance (DeFi).

Revolutionizing Trading with Advanced DEX Features

In the face of the evolving landscape of centralized exchanges (CEXs), SphereX introduces a robust solution that draws closer to the usability and functionality of traditional platforms while enhancing security and decentralization. With the introduction of independent Zk rollup technology, on-chain KYC, and a DAO-focused economic model, SphereXs testnet is designed to address the rigorous demands of todays DEX users.

Key Features and Benefits

SphereX introduces a suite of groundbreaking features designed to address the current limitations of traditional DEXs while optimizing the trading experience:

Making Significant Leap in Trading Simplicity

Recognizing the critical need for competitive pricing and execution in the DEX derivatives market, SphereXs testnet introduces a suite of features that elevates trading efficiency to rival that of CEXs:

We are excited to unveil the SphereX testnet and demonstrate the unique capabilities of our platform to the global crypto community, saidKai, CEO of SphereX. The launch of the SphereX testnet is a pivotal milestone in our journey to set new standards in the world of decentralized exchanges. Our platform combines speed, security, and user-centric design, making it ideal for todays dynamic trading landscape. We invite traders globally to participate in this transformative journey and help shape the future of DeFi.

SphereX is dedicated to enhancing loyalty and engagement by giving back to its community, reinforcing its commitment to a user-first philosophy. The platform is designed to recognize and reward active participation, aiming to build a strong, supportive community around its innovative features. SphereX also integrates feedback mechanisms directly into its ecosystem, allowing users to influence development priorities and operational enhancements. This approach not only empowers users but also fosters a sense of ownership and belonging, essential for nurturing loyalty and encouraging long-term engagement within the DEX landscape.

As SphereX continues to innovate and expand its offerings, the platform is poised to attract significant user engagement, mirroring the successful adoption trends seen in other leading DEXs. SphereXs strategic development and the robust performance of its testnet promise a future where decentralized trading platforms can truly compete with centralized counterparts in both functionality and user experience.

SphereX is a decentralized crypto exchange designed to provide users with a more secure, efficient, and user-friendly platform for trading digital assets. SphereX boasts a unique combination of capabilities that include off-chain matching for lightning-fast trade execution, on-chain settlement for enhanced security, and cross-margin trading to optimize capital utilization. To learn more about SphereX, users can visit the SphereX website, and for updates, news, and promotions follow SphereX on X and Telegram.

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SphereX Announces Testnet Launch to Revolutionize Decentralized Trading - CryptoPotato

The founder of Ethereum, Vitalik Buterin explains several decentralized applications (DApp) that demonstrate principles of privacy and decentralization in the cryptocurrency market, indicating a continued focus on improvement and the core principles of Ethereum even as meme coins gain more attention.

Buterin described Farcaster as a social network that relies on the Optimism protocol. Farcaster still enjoys relatively low usage, but the platform still offers relatively high decentralization for users. Buterin spoke about the Lens Protocol, a decentralized application where users own their content, which speaks volumes about Ethereums vision of bringing decentralized interaction online.

Buterin highlighted the importance of quadratic funding for the Gitcoin Grants as a fairly fresh concept of community funding for projects. This means they can fund different projects depending on what the community wants, thus, funding moves in the direction of accomplishing collective will.

He also mentioned that post-launch funding encourages schemes that have already proved useful and effective in practice, thus helping developers engage in more meaningful, effective project development.

Privacy improvements are also important according to Buterin in future Ethereum development. Buterin mentioned using zero-knowledge proofs (ZKPs) and zero-knowledge voting as critical innovations that allow verification of transactions and votes that occur in a black-box fashion while preserving privacy in the blockchain ecosystem.

While meme coins have surged in popularity, often overshadowing more substantial, utility-driven projects, Buterin acknowledges this trend but contrasts it with the significant developments in decentralized finance (DeFi) and decentralized social networks.

Also read: Vitalik Buterin Backs TiTok AI: A Leap in Blockchain Image Storage

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Vitalik Buterin Highlights Ethereum DApp Innovations - Crypto Times

The traditional financial model is falling, and decentralized lending is entering a new level. This new method of lending and borrowing involves using blockchain to provide a system that eliminates the need for financial middlemen. In this journey to decentralized lending, we will meet the leading characters who will transform the financial sphere.

Lending platforms are among the important building blocks of DeFi, or the Decentralized Finance movement. These platforms allow users to lend and borrow directly from each other using the smart contracts of blockchain technology, specifically Ethereum.

A number of platforms have emerged to address this need within the decentralized lending industry. Out of all competing platforms, MakerDAO, Compound, and Aave stand out as innovative Startups with numerous clients. MakerDAO is appropriate for lending because it has a stablecoin, DAI.

Compound provides lending liquidity pools with interest and more tokens to the lenders. If you were thinking about marginal additions to the concept of decentralized finance, Aave, with flash loans, introduced uncollateralized borrowing into the world of DeFi.

Phase tokens are considered when it comes to decentralized lending platforms as being of equal importance as the lending platforms themselves. Users get to exercise their rights to make decisions regarding the working and operational activities of the specific protocol. The fundamental implication of this is that the users are more engaged in the company and the success of the site, and therefore, a community-oriented business model is needed.

Still, decentralized lending is no exception despite the numerous possibilities that come with decentralization. Participants may be exposed to risks of smart contract exploits and variable interest rates for borrowing. In addition, there is also concern over governability since governments worldwide have yet to determine how to control these new financial systems.

The future of decentralized lending is again bright, with innovations and even usage coming every year. There will be added innovations and complexities of lending products and services as technology advances to meet the growing financial needs of the masses. Interlinking decentralized lending with the conventional financial system could revolutionize the way we approach lending and borrowing in the present-day context.

Credit is one of the primary front-line industries propelling DeFi, providing better solutions to ordinary people with no hiccups on the matter of transparency. The leading platforms simultaneously create new opportunities for investors. Looking at these leaders and other stakeholders, it will indeed be fascinating to watch how they will deal with the opportunities and challenges that are likely to be faced in the development of this new sector.

Read more:

Who is Leading the Charge in Decentralized Lending - Analytics Insight

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Artificial intelligence (AI) is rapidly advancing, yet its development and deployment are largely controlled by a few powerful entities. This concentration of power raises significant concerns about privacy, security, and fairness. As AI continues to transform industries and societies, it is crucial to explore solutions that can democratize its benefits and mitigate its risks. Blockchain technology offers a promising path forward by enabling decentralized, transparent, and secure AI systems.

Large corporations with access to vast amounts of data and computational power dominate the current AI landscape. This centralization presents several problems. Privacy concerns arise as users personal data is often collected and used without explicit consent, leading to potential misuse and breaches. Monopolization of power by a few entities stifles innovation and limits diverse contributions. Additionally, centralized AI systems are vulnerable to being manipulated for harmful purposes, such as spreading misinformation or conducting surveillance.

The reality of AI development today is that it is not solely the result of autonomous machine learning but rather a blend of reinforcement learning and human intelligence. A striking example of this was when details of Amazons Just Walk Out technology came to light. Instead of technology alone tallying customers purchases, about 1,000 real people manually checked the sales. This collaboration between human intelligence and AI systems is often overlooked, but it underscores the significant human element in AI processes.

Blockchain technology, with its decentralized and transparent nature, can address these challenges effectively. It enhances security and privacy by enabling secure data sharing and storage through cryptographic techniques, ensuring that users maintain control over their information. By distributing power across a network, blockchain reduces the risk of monopolization and fosters a more collaborative AI development environment. It can also track the provenance of data, ensuring its integrity and legitimacy, which is crucial for training reliable AI models.

Decentralization in AI can mitigate several risks associated with the current centralized model. The Center for Safe AI identifies four broad categories of AI risk: malicious use, AI race, organizational risks, and rogue AI. Malicious use includes intentionally harnessing powerful AIs to cause widespread harm, such as engineering new pandemics or using AI for propaganda, censorship, and surveillance. The AI race risk involves corporations or nation-states competing to quickly build more powerful systems, taking unacceptable risks in the process. Organizational risks encompass serious industrial accidents and the potential for powerful programs to be stolen or copied by malicious actors. Finally, there is the risk of rogue AI, where systems might optimize flawed objectives, drift from their original goals, become power-seeking, resist shutdown, or engage in deception.

Regulation and good governance can contain many of these risks. Malicious use can be addressed by restricting queries and access to various features, and the court system can hold developers accountable. Risks of rogue AI and organizational issues can be mitigated by common sense and fostering a safety-conscious approach to using AI. However, these approaches do not address some of the second-order effects of AI, such as centralization and the perverse incentives remaining from legacy web2 companies.

For too long, we have traded our private information for access to tools. While opting out is possible, it is often inconvenient for most users. AI, like any other algorithm, produces results directly tied to the data it is trained on. Massive resources are already devoted to cleaning and preparing data for AI. For example, OpenAIs ChatGPT is trained on hundreds of billions of lines of text from various sources but also relies on human input and smaller, more customized databases to fine-tune its output.

Creating a blockchain layer in a decentralized AI network could mitigate these problems. We can build AI systems that track the provenance of data, maintain confidentiality, and allow individuals and enterprises to charge for access to their specialized data using decentralized identities, validation staking, consensus, and roll-up technologies like optimistic and zero-knowledge proofs. This could shift the balance away from large, opaque, centralized institutions and provide individuals and enterprises with an entirely new economic system.

On the technological front, ensuring the integrity, ownership, and legitimacy of data (model auditing) is crucial. Blockchain can provide an immutable audit trail for data, ensuring its authenticity and enabling fair compensation for data providers. Techniques such as zero-knowledge proofs and decentralized identities allow users to contribute data without compromising their confidentiality. Decentralized AI networks enable diverse stakeholders to participate in AI development, from data providers to infrastructure operators, creating a more equitable ecosystem.

In addition to enhancing data integrity, decentralized AI systems offer improved security. Cryptographic techniques and security protection certification systems ensure that users can secure their data on their devices and control access to their data, including the ability to revoke access. This is a significant advancement from the existing system, where valuable information is merely collected and sold to centralized AI companies. Instead, it enables broad participation in AI development.

Individuals can engage in various roles, such as creating AI agents, supplying specialized data, or offering intermediary services like data labeling. Others might contribute by managing infrastructure, operating nodes, or providing validation services. This inclusive approach allows for a more diversified and collaborative AI ecosystem.

Decentralized AI also addresses the issue of job displacement caused by AI advancements. As AI systems become more capable, they are likely to impact the labor market significantly. By incorporating blockchain technology, we can create a system that benefits everyone, from data providers to developers. This inclusive model can help distribute the economic benefits of AI more equitably, preventing the concentration of wealth and power in the hands of a few large corporations.

Furthermore, the integration of blockchain and AI can foster innovation by promoting open-source development and collaboration. Decentralized platforms can serve as a foundation for developing new AI applications and services, encouraging a diverse range of contributors to participate in the AI ecosystem. This collaborative environment can lead to the creation of more robust and innovative AI solutions, benefiting society as a whole.

In conclusion, the fusion of blockchain and AI represents a significant advancement in how we approach technology development. It shifts the balance of power away from centralized entities and towards a more distributed and collaborative model. This transition is essential for ensuring that AI serves the broader interests of humanity rather than the narrow goals of a few powerful organizations. The future of AI lies in its decentralization, and blockchain is the key to unlocking this potential. By leveraging the inherent security, transparency, and trustlessness of blockchain technology, we can build a more equitable, secure, and innovative AI ecosystem that benefits everyone.

Jiahao Sun

Jiahao Sun, the founder and CEO of FLock.io, is an Oxford alumnus and an expert in AI and blockchain. With previous roles as the director of AI for the Royal Bank of Canada and an AI Research Fellow at Imperial College London, he founded FLock.io to focus on privacy-centered AI solutions. Through his leadership, FLock.io is pioneering advancements in secure, collaborative AI model training and deployment, showcasing his dedication to using technology for societal advancement.

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Decentralized AI: leveraging blockchain for a more equitable future | Opinion - crypto.news