ZKX, the first Social Perp Trading DEX built on Starknet and Ethereum, has successfully raised a total of $7.6M to date. This includes a recent seed valuation round of $6.3 million, featuring investors such as Flowdesk, GCR, and DeWhales. Previous supporters 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.

This week, the protocol launched its native token, $ZKX, on KuCoin, Gate.io, and Bitget. The launch of this 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 isnt 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 visit https://zkx.fi/.

You can view the full announcement here: https://zkx.fi/blogs/the-zkx-token-launch

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 at https://zkx.fi/.

Originally posted here:
First Social Decentralized Perpetual Exchange Raises $7.6M in Total, Introduces Governance Token - Crypto Reporter

The rise of a new breed of decentralized and censorship-resistant Bitcoin (BTC) applications on Nostr marks a significant evolution in the Bitcoin apps space, according to blog.bitfinex.com. These platforms leverage Nostr's open, resilient protocol to integrate seamlessly with Bitcoin and Layer 2 solutions like the Lightning Network, enhancing privacy, security, and user autonomy.

A new wave of Bitcoin-centric Decentralized Applications (DApps) has emerged, utilizing the Nostr decentralized social media protocol to offer censorship-resistant and private services for the Bitcoin ecosystem. Platforms like Mostro, Joinstr, Munstr, Smart Vaults, and Civkit are at the forefront of this movement. These platforms integrate tightly with Bitcoin and its Layer 2 solutions such as the Lightning Network and more recently, E-cash over Cashu and Fedi. They aim to enhance privacy, security, and user autonomy in digital transactions, offering functionalities from peer-to-peer exchanges to sophisticated multi-signature vaults.

Mostro exemplifies this new breed of platforms by providing a peer-to-peer Lightning exchange built on top of Nostr. It allows users to buy and sell Bitcoin with enhanced privacy, using ephemeral keys and an escrow system that minimizes risk while ensuring transactions are secure and decentralized. Mostros integration with Nostr ensures that communications are resilient and verifiable, maintaining user anonymity and data integrity across the network.

Joinstr offers a decentralized CoinJoin implementation using Nostr, enhancing Bitcoin transaction privacy without relying on centralized coordinators. By facilitating CoinJoin transactions through Nostr, Joinstr ensures user privacy and simplifies the CoinJoin process. Its straightforward implementation, coupled with features like better UI/UX and the absence of fidelity bonds, makes it accessible and attractive to a broad range of users. Integration with tools like the Electrum wallet further enhances its usability.

Platforms like Munstr and Smart Vaults bring advanced multi-signature technology and secure Bitcoin management to the forefront. Munstr uses Nostr for secure and encrypted communication in multi-signature transactions, while Smart Vaults leverages Nostr to orchestrate signatures and manage Bitcoin custody collaboratively. These platforms aim to eliminate the friction in managing Bitcoin collectively, providing robust solutions for both individual users and institutional clients. Civkit, on the other hand, combines Nostr with the Lightning Network to create a decentralized, permissionless marketplace, promoting financial inclusion and reducing reliance on centralized intermediaries.

The emergence of private and decentralized censorship-resistant applications built on Nostr and Bitcoin aligns seamlessly with the core principles of the cypherpunk movement. Cypherpunks advocate for the use of cryptography and privacy-enhancing technologies to create a world where individuals can communicate and transact freely, without interference from centralized authorities. Bitcoin, as a decentralized digital currency, already embodies many of these ideals by enabling peer-to-peer transactions without the need for intermediaries. Building applications on Nostr, a protocol designed for censorship-resistant and decentralized social media, extends these principles to other areas of digital interaction, fostering a more open and resilient online ecosystem.

From an ideological standpoint, cypherpunks have long envisioned a future where privacy and freedom are preserved through the use of technology. The integration of Bitcoin with Nostr fulfills this vision by combining the financial sovereignty of Bitcoin with the communication resilience of Nostr. This synergy enables the creation of platforms that not only resist censorship but also protect user privacy, ensuring that individuals can engage in financial and social activities without fear of surveillance or restriction. The development of such applications is a testament to the cypherpunk commitment to building systems that empower individuals and protect their rights in the digital age.

The technological advancements that have made these decentralized platforms possible are relatively recent, highlighting the importance of timing in the realization of the cypherpunk vision. The maturation of Bitcoins ecosystem, with its security and widespread adoption, provides a strong foundation for financial transactions. Simultaneously, the development of Nostr as a flexible and resilient protocol for decentralized communication offers the necessary infrastructure for building censorship-resistant applications. The advent of these tools, along with advancements in cryptographic techniques and Layer 2 solutions like the Lightning Network, has created a perfect storm of opportunity for innovators to bring cypherpunk ideals to life.

The practical implications of these new platforms are profound. They offer an alternative to the centralized, sometimes opaque systems in traditional finance. By empowering users to control their own data, communications, and financial transactions, these applications foster a more democratic and equitable internet. This shift not only aligns with cypherpunk ideology but also addresses growing concerns about privacy, surveillance, and the monopolistic tendencies of major tech companies. As these decentralized platforms continue to evolve and gain traction, they represent a significant step towards realizing a more free and open digital world, as envisioned by the cypherpunk pioneers.

The emergence of Bitcoin applications on the Nostr protocol might represent only the beginning of a larger wave of DApps. Given Nostrs inherent resistance to censorship, coupled with Bitcoins security and financial autonomy, these initial projects demonstrate the protocols potential to revolutionize how decentralized platforms are built and operated. As the tools and infrastructure for developing on Nostr become more accessible and refined, it is likely that we will see an influx of diverse and innovative DApps leveraging the protocols strengths. This could lead to a flourishing ecosystem of decentralized, privacy-focused applications that challenge the dominance of centralized platforms, further promoting the ideals of financial sovereignty and personal freedom within the digital landscape.

Originally posted here:
Nostr Fuels the Growth of Decentralized Bitcoin (BTC) Apps - Blockchain News

HONG KONG - 20 June 2024 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 team's vision and execution capabilities strengthens our commitment to helping their growth,

Thanh Le, the Founder of Ninety Eight

We see significant potential in consumer-oriented initiatives like Zeek that blend real use cases with gamified experiences in social and gaming contexts. Zeek's 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,

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. Zeek's 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,

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.

This publication is provided by the client. Cointelegraph does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. Cointelegraph is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.

Here is the original post:
Zeek, a new decentralized social collaboration network, raises $3M seed funding to reinvent social reputation in Web3 - Cointelegraph

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

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

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

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.

Twitter | Website

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

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

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

Ethereum Price: Whale Offloads 10k Coins Amid ETH Price Dip, Whats Next?

Ethereum (ETH), the second-largest cryptocurrency by global market cap, has once again turned heads across the broader crypto market. In the past 24 hours, ETH has exhibited highly turbulent price

10 hours ago 24/7 Cryptocurrency News

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Vitalik Buterin Spotlights Innovative Idealist DApps in Web3 - CoinGape

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.

See the article here:

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