200
This is a quick review of some of the most important news that happened this week and you should know about them.
In the current bear market a lot of investors lost money and hope. With all these prices going down and bad news around, people become more skepticals about the adoption of crypto and even the power it holds. Because of this high level of fear a huge amount of investors miss opportunities. But not you, right?
Of course in a bear market are a lot of smart choices to make that will give you benefits and there are a lot of signs that indicate the oportnituies.
Do not get fooled by prices and volatility, because it is just a phase. You are not late to start now your crypto journey. But why to start you may wonder?
Because good news are coming. They indicate us that crypto market will recover and will be stronger than ever.
If you continue reading you will find major events which suggest crypto space is strong, has a lot of opportunities and it is indestructible indeed.
So, I am going to present good news in this short post. I will also explain why they are and what that means for you.
Let's get started.
Points that will be touched:
Tokens and coins
DeFi: liquidity and staking
Crypto exchanges
NFT marketplaces
NFT royalties
NFT liquidity
I. CRYPTO
1. Two major exchanges made big announcements:
Like you may already guess the crypto exchanges are Binance.
The news are different for each of them, but both indicate that crypto space is growing.
Coinbase Exchange has listed HBAR (Hedera)
made a lot of noise lately, with all its partnerships. For example, the one with , that helps developing a G.R.E.E.N. CBDC Framework for Central BanksBlade Wallet, that gives individuals the opportunity to experience the speed, security and low, predictable fees of Hedera. We can not ignore the fact that Open Zeppelina leader in web3 security and auditing services has integrated its Defender and Contracts services, enabling Australia's second largest bank to secure its stablecoin on Hedera network.
It is well known that COINBASE lists just coins with strong fundamentals and good potential and HBAR may be one of them!
If you were a fan of the HBAR coin and did not knew where to find it, now Coinbase is the right place to look. Coinbase is secure, fast and a well trusted exchange with 103 million users, 14,500 institutions and 245,000 ecosystem partners.
So, cryptocoins can show resistance during hard times, proving, again that crypto is here to stay!
Coinbase big partnership with BlackRock
BlackRock is the world's largest asset manager. It just teamed up with Coinbase at the beginning of August to allow institutional clients of its Aladdin platform to get bitcoin exposure. This is a prove of bitcoin stability. And as you know. if bitcoin is doing good, altcoins are doing good. Crypto adoption is inevitable.
Liquid-staking on Binance: pSTAKE's solution on BNB Chain
But first... what is staking? what is liquid staking?
If you are already a DeFi passionate, I am sure you know what it means, but for the newbies, I have to mention:
is the act of putting up collateral as proof of a party’s stake in the crypto space. When you stake tokens you are not able to sell them until you unlock them. This period could be weeks, months or years, depending on the protocol rules.
Liquid-staking has all the futures of staking, but with more benefits: users will also receive a new digital asset with the same value as the staked one, that can be used in other DeFi activities. The original token is locked, but the new one is not. Liquidity is very important for a protocol in order to grow the DeFi capabilities and also to sustain its development.
pSTAKE Finance is a liquid staking protocol which unlocks the liquidity of staked assets, with the condition that the staked assets are Proof-of-Stake tokens.
pSTAKE's liquid-solution on BINANCE Chain, users will deposit BNB tokens and will receive stkBNB tradable tokens. The amount of BNB staked will be non-zero.
The model used for making all of this possible is similar with the one used by Compound. Compound provides for each staked amount of tokens, some that can be used in another DeFi applications.
In short: you can stake BNB and you will receive stkBNB coin instantly; the value of the issued stkBNB is growing, as staking rewards automatically accrue; for staking, users are rewarded with tokens, depending on the yield (rate) the protocol provides; with pSTAKE, users do not have to worry about the manual tasks of taking the rewards and put them again for staking if they desire it, because stkBNB can be auto-compounded.
! If you want to unstake any portion of your tokens and also receive the rewards, you can do it easy and quick after just 15 days of locking your assets; pSTAKE will automatically burn the stkBNB that was issued and it will add an equivalent amount of BNB into the user's wallet.
Rewards are coming from the transaction fees and are distributed properly between users depending on the amount they staked.
Enjoy staking BNB for high yields and good rewards!
Binance partnership with MasterCard
MasterCard is one of the biggest online payments and now it works with Binance to allow users to buy goods and service with cryptocurrencies like Bitcoin BTC and Binance Coin BNB.
This is a beta phase, but it is expected to be widely available in the next weeks.
If you want to save some money when you make purchases with your card, just use MasterCard and Binance 'crypto card' and you can receive 5-7% cashback in crypto! Simple, fast and secure!
II. NFTs
2. OpenSea's new competitor: SudoSwap (royalty free marketplace)
OpenSea power:
A lot of us may think OPENSEA is the best choice when we talk about NFTs marketplaces. It is the most popular one, very secure, many celebrities or big names in crypto and NFT space use it, it is fast, decent fees and it has options to list your own collection of NFTs. OpenSea also gives amazing futures like sorting a collection from the floor price to the highest price or vice versa. More, you can have access to different filters like viewed NFT''recently created/listed'. You can chose the price range you are willing to spend for an NFT and the method you want to pay: with crypto ( ETH or WETC, DAI, USDC, SOL, ETH on MATIC and some more ) or a credit/debit card. A owner can sell an NFT on OpenSea for a fixed price or put it on an auction. At any time the seller can accept a bid made by a buyer.
On OpenSea, the owners have the possibility to receive royalties with each sell. Royalties are just percentages of the initial price that is coming back to the initial owners with every sell. The owner decide if she or he wants how much the royalty (fee) will be: usually between 5-10%. They make profits for their work in this way: it is something like rewarding the creators, you know, like you tip a waiter after the meal. But royalties go first to OpenSea, this centralized platform that acts as an intermediary, and then to the creators. So, it’s up to OpenSea marketplaces to honor these royalty agreements.
Royalties are good for creators, but maybe foe the buyers there are not. If you were someone who just wanted to make a flip with a specific NFT, there is no point for an extra price through a royalty
Royalties should be about giving back to the creators for the value an NFT provides, but a flipper is looking for quick profits, so for she or he may not seem fair to pay the royalty. The option to choose if you, as a buyer, want to give a royalty may seem a better option in this case. But this is debatable, don't you think?
SudoSwap revolution:
SudoSwapautomated market maker (AMM) that doesn’t support royalty fees, which has spawned a controversy of its own. On SudoSwap, users also have the option to sell NFTs immediately into a pool at a quoted price, rather than having to accept a bid like on OpenSea.
So, Sudoswap works as a token swap and liquidity service. It allows users to sell their NFTs without first having to find a buyer. On SudoSwap, users can an NFT directly for ETH without needing to accept a bid or wait for someone to purchase their NFT. And because the platform is solely for peer-to-peer trading, NFT creators have no say in how their collections are represented or tokens are transacted.
SudoSwapremains popular with collectors as its fees are significantly lower than other platforms like OpenSea. It also brings more decentralization in the crypto space which is much needed and important in web3.
SudoSwap is an innovative idea and we will see if it is here to stay and overtake OpenSea. Both are good right now, but as you know, the time will tell which one will dominate (some NFT price tags reach well over $1 million, so we’re talking more than $50,000 in fees alone paid by the collector and that may seems sometimes high).
SudoSwap really proves that royalties should be something about value and culture, not just a norm. This is what people value and if they need a place to support this concept, with SudoSwap they found the right place.
Bonus part:
Metaverse: Eminem and Snoop Dogg held a show in the metaverse during the VMAs. They showed a unique experience, singing with passion and style, using their 'apes' (NFTs for The Bored Ape Yacht Club'). Incredible moments like this could've never exist without the technology behind web3.
DeFi protocol Synthetix turning off the SNX money printer proposal; if approved, the revenue will be provided by fees and then distributed to SNX hodlers. That means that Synthetix will stop be inflationary. The total supply will be at 300 million SNX. The fee revenue from atomic is high enough right now (almost as the BItcoin's week average: $222,651) and the protocol do not need boosts anymore from issuing more SNX tokens.
Last hour news: Avalanche 'Evil Conspiracy' Investigation; Ava Labs is accused for intentional and inappropriate lawsuits against another blockchain competitors like Solana and Binance. AVAX priced dropped 19.78% that day, but because Avalanche responded to the accusations by denning them the price had a soft recovery.
The attack, according to https://cryptonews.net/11475577/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared , was executed by the law firm Roche Freedman, which received 1% of the AVAX tokens of Ava Labs holdings as payment. For this fee, a law firm employee looked for loopholes in U.S. financial law and stampeded out lawsuits against Ava Labs' competitors. In this way, the legal "Discovery" method was used in many ways, giving attackers access to confidential information of Ava Labs rivals.
Crypto Space proves again that is evolving. Crypto can survive during a bear market and more.. it also shows improvements! If you ever had doubts about the power of crypto, now you have the facts: crypto is strong in a bull market and even stronger in a bear market. Are you going to continue to be a web3 believer whatever are the circumstances?
I am sure I will.
This is not financial advice, just informative content.
For more news and infos, you can access: Elena (@CatalinaDidita) / Twitter
