CryptoNinjas » Blockchain scaling specialist Metis launches layer-2 framework to empower dApp development
Developed after Metis raised USD $4 million in angel, seed, and private funding, Metis Rollup is aiming to be the infrastructure for the Web 3.0 economy, enabling users to easily launch their own decentralized applications and leverage the embedded framework of Decentralized Autonomous Companies (DACs). They can thereby manage their decentralized collaborations from within while ensuring they are low-cost, highly scalable, and offer more functionality.
As the vision of a Web 3.0 decentralized economy has advanced, with decentralized businesses running on the blockchain, the blockchain community has built out its infrastructure in an attempt to replicate real-world functionality. The problem is that current layer-1 solutions are plagued by high gas costs, reduced efficiency levels, a lack of on-chain management tools, and difficult-to-use available platforms. All of these factors make layer-1 solutions ineffective when it comes to supporting the operation of a complex logic application or business.
The Metis white paper explains the problems inherent in previous layer-2 technologies, the potential of the Rollup, and how the Metis framework supports the running of the Web 3.0 economy. Unlike other layer-2 solutions which only solve the issues of transaction cost and throughputs, Metis Rollup tackles the broader issue of how to implement value creation activities (collaborations) on the blockchain to backbone the running of the Web 3.0 economy.
Metis Rollup functionality and characteristics include:
Scalable, decentralized, and EVM-compatible, supporting multiple businesses and the launch of proprietary tokens. The mining incentive mechanism significantly reduces the token withdrawal time from layer-2 to layer-1. The microservice framework is built on layer-2 to allow the extension of toolkits. Integrated with IPFS for privacy data protection. Embedding DAC fr..
CryptoNinjas » AllianceBlock brings its DeFi apps to Avalanche ecosystem
AllianceBlock, a compliant decentralized capital market, announced today the integration of its DeFi product suite into Avalanche, an open-source platform for launching highly decentralized applications, new financial primitives, and new interoperable blockchains.
Upon completion of the integration, users will be able to access AllianceBlock’s DeFi Investment Terminal, compliant P2P financial services, NFT capabilities, trustless KYC and identity verification solutions, and derivative pricing engine and analytics on Avalanche.
AllianceBlock will also strategically collaborate with Ava Labs, the team supporting Avalanche development, to expand the impact AllianceBlock and Avalanche can have in bridging decentralized and institutional finance through its unique Regulatory & Compliance Layer.
Smart contract activity on Avalanche has boomed since the launch of the Avalanche-Ethereum Bridge (AEB) in February. During that time, smart contract transactions have increased by 1,956% to over 1,118,000, and unique wallets increased by 2,795% to top 62,000.
“Avalanche’s mission of empowering people to build an open, simple, and democratic internet of finance is right in line with what we are doing at AllianceBlock; our multifaceted blockchain-agnostic protocol enables banks and their clients to simply, safely, and legally trade any crypto product,” says Rachid Ajaja, CEO and Founder of AllianceBlock. “In becoming a key player in the Avalanche ecosystem, we will help drive our common goals, bringing the DeFi industry to new heights. We look forward to nurturing new, lasting relationships and to seeing the roll-out of our unique products, further enriching the AllianceBlock ecosystem.”
The AllianceBlock team is made up of ex-JP Morgan, Barclays, BNP Paribas, and Goldman Sachs investment bankers, combined with serial entrepreneurs and global leaders in software development and blockchain. Since its ince..
CryptoNinjas » Decentralized oracle solution Umbrella Network adds Huobi as validator node
Umbrella Network, a decentralized oracle solution that facilitates the flow of pricing data for DeFi and other decentralized applications, has announced a partnership with the world’s second-largest cryptocurrency exchange, Huobi Group. Huobi will serve as a validator node on Umbrella’s recently launched public testnet, playing a critical governance role ahead of the oracle platform’s launch of its full operation mainnet system.
The partnership follows Umbrella Network’s recently launched IDO, which was one of the most successful in Polkastarter history, just before the company launched its public testnet. The addition of Huobi to the validation and governance infrastructure enhances Umbrella’s ability to provide data feeds with up-to-date, fast, and inexpensive information for the growing number of applications relying on its system.
“We’re extremely pleased to welcome Huobi as a key validator on Umbrella, greatly expanding our network and helping us provide essential data to the decentralized applications we support,” said Umbrella Network’s founding partner, Sam Kim. “As we aim toward our mainnet launch, Huobi’s influence will be critical to building the robust data infrastructure required by markets around the world.”
Huobi’s participation provides a huge boost to the information that can be accessed and used by those relying on the Umbrella network, which features Merkle Tree and proof-of-stake technologies that allow it to package much larger amounts of data — at a far lower — in each transaction than competitors. Huobi’s participation, moreover, follows a recent flurry of professional validators also joining up to take part in Umbrella’s testnet, including HashQuark and InfStones.
The widening participation will help to better position Umbrella ahead of its mainnet launch in the coming weeks, notably in the form of data from both on-chain and off-chain networks tha..
CryptoNinjas » Aussie crypto exchange CoinJar launches new web app
CoinJar, an Australian-based bitcoin/crypto exchange company, has announced its latest major update to the CoinJar web experience. The new web app has a refreshed look and design; with a host of innovative features and functionality that makes buying crypto even easier.
Updates Buying and Selling
Now, users can access, manage and track the performance of their CoinJar Bundles (coins users can purchase as a group) on the web rather than exclusively through the app for iOS and Android. In tandem with CoinJar Bundles, users can also now access and manage recurring buys through the web.
Users can now easily access all their CoinJar notifications in one place — including notifications for daily price updates at their preferred times. Users can also set threshold price alerts to notify when the price for any of CoinJar’s supported currencies reaches above or dips below a certain amount. And now, through CoinJar’s updated web experience, users can see all these notifications in one place.
Convert Crypto Easier
CoinJar has also changed how users can manage their portfolios online. With this update, it is now easier to exchange one cryptocurrency for another, e.g. BTC for ETH.
CryptoNinjas » Aussie crypto exchange CoinJar launches new web app
CryptoNinjas » Gnosis Auction launches for fair and even token price discovery
Gnosis, a builder of new market mechanisms for decentralized finance, has now launched Gnosis Auction, a platform that uses batch auctions to enable fair price discovery for token auctions.
“With ICOs and token launches notorious for creating volatile and erratic price points, the method behind discerning what a new token should cost is complicated. Gnosis Auction has been designed to address this issue, allowing new token launchers to now ask their audience what it’s worth in a completely fair and permissionless way,” said Stefan George, Gnosis Co-Founder, and CTO.
Using Gnosis Auction — projects launching new tokens on Ethereum can use a custom Gnosis Safe App to deploy an auction, setting a minimum price they’re willing to sell their token for, while those bidding can set a maximum price they’re willing to pay.
Overall, the price will settle somewhere in between the two, keeping both sides of the equation happy – when the auction closes, all bidders within that range receive the same clearing price.
By combining limit orders and batch auctions, Gnosis Auction introduces a fundamentally new auction primitive to decentralized finance on Ethereum.
Furthermore, batched auctions prevent frontrunning and problematic ‘gas wars’, in which users might manipulate and congest the network, which means less value will be extracted from the process.
Beyond initial DEX offerings, Gnosis Auction enables users to run collateral or liquidation auctions, as well as token buybacks, and any other experiments that are interested in finding the fair value of a token.
Gnosis developed the permissionless platform that teams can use to run auctions, however, they are not involved in the auctions or auctioneering, which are independently organized by users of the platform.
The latest in a long and successful list of Gnosis tools for decentralized finance, Gnosis Auction will allow for fa..
CryptoNinjas » Balancer to enable programmable liquidity for the Algorand ecosystem
Blockchain platform Algorand today announced that Balancer, one of the largest automated market makers (AMM), will soon be available on Algorand to expand liquidity to its growing community.
This initiative explores how the Balancer platform can work in different environments, given the different trade-offs and characteristics of other innovative blockchains like Algorand.
Traditionally, exchange and liquidity have been time-consuming and expensive endeavors, and the market depth is not always justified. However, Balancer brings the type of innovation and decentralization in financial infrastructure that continues to drive service costs lower.
As a trusted pillar of the Ethereum community, Balancer has played a key role in providing this decentralized liquidity for its users since its inception.
Balancer + Algorand By leveraging Balancer’s services on Algorand, exchanges will have the ability to create trading pairs with any Algorand Standard Asset (ASA). As the number of assets issued on Algorand’s high-performing blockchain accelerates, this represents a huge opportunity for mass adoption.
Balancer is being built on Algorand by Reach, utilizing their safe and easy DApp programming language. The Reach platform provides a high-level language and a specialized compiler that lowers the bar of entry for Algorand development. DApps wrote in Reach also apply formal verification to the deployed application, ensuring that applications like Balancer provide extra safety guarantees for users.
CryptoNinjas » Balancer to enable programmable liquidity for the Algorand ecosystem
CryptoNinjas » Hardware-based SpiderDAO successfully deploys testnet on Discord
SpiderDAO, which provides a decentralized router-based VPN service for its users by using a dual-governance model which brings together hardware and software tools with on-chain elements, today announced the completion of a major milestone in the SpiderDAO project.
The SpiderDAO Discord testnet allows a clear demonstration of the various SpiderDAO functions and capabilities that will shortly be included on the SpiderConnect Pro router firmware including:
$SPDR wallet creation and administration Creation and administration of private and public keys Governance of proposals and referendums deployed on the DAO Voting options The Discord SpiderDAO testnet shows a close approximation of what the final hardware DAO functionality will look like and will be used to gather information and invite constructive criticism from both SiderDAO devs and the wider community.
Testnet The SpiderDAO testnet on Discord is the first in an increasing list of services that the SpiderDAO team intends to include in its Spider VPN Pro Router firmware. The SpiderDAO firmware will shortly be capable of hosting a number of other services all from within the same easy-to-use interface. All services and facilities are powered by the $SPDR token which is at the heart of the SpiderDAO ecosystem.
“Our Development team is delighted to have the opportunity to at last show some of the hard work that they have been engaged in and their dedication shows in the results. We are looking forward to rolling out the new Spider Pro Router firmware which incorporates these and many other features.”
– Anas Sayed, CTO of SpiderDAO
As well as a $SPDR wallet, DAO voting, referendums, proposals, and communications on the network, future additions to the firmware will include a dKYC (decentralized know your customer data) module and a fully functioning multi-currency hardware wallet.
SpiderDAO’s vision is to create a provable, open-so..
CryptoNinjas » Uppsala to provide crypto AML solution for South Korean exchange Coin&Coin
Uppsala Security, a provider of cybersecurity tools for crypto AML, risk management, and regulatory compliance, announced today the signing of a contract to build a ‘Virtual Asset AML’ solution for crypto exchange Coin&Coin that complies with the amendment of the Special Money Act in South Korea.
Coin & Coin is a cryptocurrency exchange based in South Korea that has introduced various security services such as KT FSCD (Financial Security Data Center) and BitGo multisig wallet and is the 13th exchange to receive official ISMS (Information Security Management System) approval before the amendment of the Special Money Act in South Korea.
Uppsala Security cited ISMS certification, KYC, the existing financial sector (legal currency) AML, and virtual asset AML as essential conditions to comply with the amendment of the Special Money Act. However, they stressed that the most important issue in complying with the FATF (Financial Action Task Force) recommendations and that the domestic Special Money Act is designated to establish a ‘Virtual Asset AML’ system in accordance with the RBA (Risk-Based Approach).
Existing financial AML refers to a series of procedures to identify users of various services through customer identity verification (KYC), comprehensively analyze whether they have committed any suspicious activities, such as Money Laundering or Terrorist Financing, and report them to the FIU (Financial Intelligence Unit).
However, since this is limited to reports of suspected transactions in legal currency (cash), it means that VASPs (virtual asset companies) need to have a separate ‘Virtual Asset AML’ system in order to comply with the revision bill of the Special Money Act. In other words, real-time monitoring of blacklisted wallet addresses involved in phishing, fraud, hacking, etc. must be continued through the virtual asset AML solution, and a virtual asset STR (suspiciou..
CryptoNinjas » Crypto trading app Orion Terminal now live, offering BSC and ETH chains, staking to come
Orion Terminal, a crypto trading app offering liquidity of every single crypto exchange into one decentralized platform, has now been live for five days. The Orion Terminal, which launched on March 31st offers to trade on Ethereum and Binance Smart Chain.
Since launch, the Orion team has received feedback raised by traders that it will look to address. Performance results and issues under development can be seen below.
Infrastructure In response to rapidly growing demand, the Orion team hard at work building a solid, performant, and secure foundation for users. Many conversations are happening internally about opening up parts of the Orion Terminal infrastructure for more transparency and community involvement, as it moves towards the goal to become open-source.
Volume The Orion team reports they are pleased with the volume so far (outpacing a number of established DEXs already) and will continue to work to drive more volume to the protocol in its work towards mainnet staking. On April 14th (2 weeks after trading began), Orion plans to share Terminal metrics and volume in a Terminal Performance Dashboard. Meanwhile, progress is being made with several of its B2B partners, each of which will drive volume to the Terminal.
Trading Pairs Currently, there are 33 tradable assets on the Terminal across two chains, resulting in 516 tradable pairs via complex swap. Orion will have two methods of adding new tokens to the Terminal in order to accelerate pair growth:
High Volume Assets: Orion will be adding pairs periodically based on several factors including availability, liquidity, and volume. Popular Assets: Alongside adding pairs themselves, Orion is developing an on-chain voting mechanism in order to add new pairs to the Terminal. There will be weekly voting on select assets for BSC and Ethereum. The top-voted assets on each chain will be added the following week…
CryptoNinjas » Tether (USDt) to launch on Polkadot and Kusama
Tether, the company operating the blockchain-enabled platform tether.to that powers the largest stablecoin by market capitalization, announced it will launch Tether tokens (USDt) on Polkadot, a scalable multi-chain network. Before deploying on Polkadot, the first protocol that provides an environment for cross-chain composability of multiple applications and protocols, USDt will go live on the network’s cousin, the canary network Kusama.
Polkadot, one of the most anticipated protocols to launch since Ethereum, aims to solve the biggest challenges that blockchain-based platforms face today: governance, interoperability, and scalability. Kusama launched about a year before the Polkadot mainnet, to serve as a value-bearing testbed for technologies in the Polkadot ecosystem.
The launch of USDt on Polkadot is pending the formation of parachains: independent chains that can have their own tokens and be optimized for specific use cases. The aim is to ensure that when USDt is available, it will become the first-ever stablecoin on the Polkadot network. As parachains will first launch on Kusama, USDt will deploy there before becoming available on Polkadot
“We’re excited to launch USDt on Polkadot, offering its growing and vibrant community access to the most liquid, stable and trusted stablecoin in the digital token space,” said Paolo Ardoino, CTO at Tether. “Polkadot is one of the most exciting projects in the digital token ecosystem and we anticipate a ready uptake of the Tether token as it powers Polkadot’s emerging DeFi ecosystem. Polkadot, with its parachain structure, has the ability to grow significantly in the coming years. This growth will be driven by its high level of scalability.”
Polkadot and Kusama are open-source networks that were bootstrapped by the Web3 Foundation, which funds research and development teams building the stack of technologies that form the basis of the decentralized web.