Ripple Tanks 15% as Crypto Market Deletes $13 Billion 1461

˜XRP, the native currency of Ripple, has plunged by 15 percent as $13 billion was wiped out of the crypto market. Volume of Bitcoin has declined from $5.3 billion to $4.2 billion within a 24 hour period, while the volume of Ripple dropped by more than 60 percent from $2 billion to $800 million.

Even during a massive sell-off, when the volume of major cryptocurrencies often intensify due to sell volume, the volume of both XRP and Bitcoin remain just above September 24 levels.

A correction for XRP was expected by most investors, given its three-fold increase in price in the past seven days. It increased by more than 150 percent since September 20, which left XRP vulnerable to a rapid downward movement.

But, the 3 percent drop in the price of Bitcoin was larger than expected, particularly because the dominant cryptocurrency showed stability throughout August and September. The abrupt 3 percent drop in the price of Bitcoin led Ethereum, Stellar, and other cryptocurrencies to drop by 5 to 15 percent in the past 24 hours.

Throughout August and September, the price of BTC has been relatively stable in the $6,000 to $7,000 region. Hence, while tokens and some large market cap cryptocurrencies recorded large gains last week, it was difficult to consider the short-term trend of the market as nothing more than a corrective rally initiated by oversold conditions.

As ShapeShift CEO Erik Voorhees said in late August, the bear market of Bitcoin is not over yet, but it is is a viable period for investors to accumulate. Since late August, the crypto market has remained virtually the same, apart from some major rallies of tokens and several cryptocurrencies like Ripple, Cardano, and Stellar.

“I don’t expect it (bear market) to end soon, although I do think that the rate of collapse has slowed considerably. Generally in these bubbles, after you go through several months of a downtrend you hang out in a range for a while… But I think we are done with a majority of the collapse,” Voorhees said.

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Bitcoin Price at 2011 Levels Returns as Bitcoin BSC Launch Provides Chance to Earn Free Bitcoin Clone Tokens 6390

Back in 2011, the Bitcoin price was $1, but today, following the launch of the Bitcoin BSC coin crypto presale on the BNB Smart Chain, buyers can acquire the token at a similarly low price and earn free Bitcoin clone tokens too.

Bitcoin, the world’s leading cryptocurrency, is struggling right now after bulls were trapped as enthusiasm at the prospect of the SEC spot bitcoin ETFs getting speedy approval receded. The price retraced below the $26k level, but it has been a different story for Bitcoin clone derivative coins.

During the past three months, for example, the Bitcoin Cash (BCH) fork from Bitcoin is up 73%, while Bitcoin has fallen -2.3% in the same time period.

Meanwhile, a similar staking-based bitcoin derivative coin to Bitcoin BSC, BTC20, which launched a month ago, is up 52%.

In fact, BTC20 hit an all-time (ATH) intraday high of $6, equating to a 688% 7x gain on its $1 presale and listing price.

Yet another bitcoin clone derivative, this time BTC2.0, rose to an ATH of $1.06 to register a return of 538x, although the price has retraced markedly from its peak.

Earn free Bitcoin clone tokens with stake-to-earn Bitcoin BSC coin

Bitcoin BSC aims to match, or beat, the success of all of these Bitcoin clone coins, and to achieve that end it has a not-so-secret weapon – staking.

While the performance of BTC2.0, not to be confused with BTC20, since its heights has been somewhat underwhelming, there has been more of a steady-as-she-goes approach by the likes of BTC20.

That’s probably largely down to the ballast effect of staking, which bears down on any selling pressure that may emerge at listing.

In this way, Bitcoin BSC seeks to emulate BTC20 by adopting a similar design and strategy, providing the price with a stable platform for takeoff.

Like BTC20, Bitcoin BSC has staking utility built into its design from the outset.

However, it should be noted that there is one important difference between Bitcoin BSC and BTC20 – Bitcoin BSC is a BEP-20 BNB Smart Chain-compliant token, and BTC20 is an ERC-20 Ethereum-compliant token – hence the BSC in the name.

Staking has been popular in the crypto DeFi space, but enthusiasm waned in the aftermath of high-profile implosions of staking ecosystems such as Terra Luna.

However, the attractiveness of transparent staking that has a clearly defined source of yield, unlike the opaque algorithms in use on Terra Luna, has not gone away.

With $BTCBSC, which runs on the BNB Smart Chain, the yield is paid out over a 120-year period, in line with Bitcoin block confirmations. Altogether, 69% of the total token supply is allocated to distribute as rewards.

Staking provides token holders with a way of earning token rewards in proportion to how many coins of the total pool they deposit into a staking smart contract and the time they choose to stake for.

It is this staking feature that will deliver price support while offering both positive capital returns and income yield to network participants.

Bitcoin BSC staking is operative now, even before the coin lists on the decentralized exchange PancakeSwap.

You can keep an eye on how many token holders are staking by visiting the real-time Bitcoin BSC staking dashboard.

You can snap up Bitcoin BSC at the low Bitcoin 2011 price of $0.99

$BTCBSC can be bought today for $ 0.99 – the same price the Bitcoin was at back in its 2011 early days, and a far cry from the $25,7000 it will cost you to purchase Bitcoin at today’s prices.

Bitcoin BSC’s comparatively low price means contributors to the presale could be sitting on substantial upside potential when the Bitcoin halving bull run takes off.

The four-yearly event that sees block rewards halved on the original Bitcoin network has previously ushered in mind-melting bull runs.

This halving is expected to have the effect of lifting all boats – especially the prices of quality Bitcoin clone derivative coins such as $BTCBSC.

Bitcoin BSC has the same total token supply as Bitcoin – 21 million. Of that total supply, 29% is up for grabs through the presale of 6,125,000 tokens, meaning BTCBSC has an initial market cap of $6,063,750.

Two percent of the supply is reserved for DEX liquidity provision to guarantee smooth trading at launch and beyond.

The remaining 14,455,000 BTCBSC tokens (69% of supply) is reserved for staking rewards, which are paid out every 10 minutes as new blocks are added to the chain.

At that token emission rate, the maximum supply will be reached in about 120 years – the same time frame as Bitcoin.

Presale and post-presale investors can buy and stake tokens at any time with a 7-day lock on withdrawals.

Bear in mind that because BTCBSC runs on the BNB Smart Chain, to buy and stake in the presale, you will need to use BNB for your purchase. However, those buying with ETH today can start staking after the presale ends.

Faster, cheaper, more powerful and expandable than other Bitcoin clones

Still, staking is not the only advantage BTCBSC has over Bitcoin and the larger-cap clone coins such as Bitcoin Cash, and Bitcoin SV.

For one thing, $BTCBSC uses a proof-of-stake protocol, which means it runs on a much more scalable blockchain that is also cheaper and more efficient to transact on.

Because BTCBSC is built on the BNB Smart Chain, transaction fees are less than $0.10, compared to around $10 on Bitcoin and approximately $20 on Ethereum, depending on network conditions.

Another advantage BTCBSC has is its fast transaction speeds, which are typically less than 5 seconds compared to 10 minutes for Bitcoin, BCH, and BSV.

BNB Smart Chain is capable of running applications, too, so there’s no limit to future development possibilities for Bitcoin BSC.

Bitcoin BSC has a lot going for it, and with only $3,960,000 being raised in the presale, demand is sure to be robust.

Crypto market prices are generally becalmed, but there are waters where the current is much healthier. In the Bitcoin derivative clone sector, there’s all to play for as far as bagging out 10x gains goes.

Get in early, and the rewards will not just accrue to long-term stakers earning a generous APY, but also to those who want the chance to access life-changing returns.

From Japan to the world! The CARAC Token project that will greatly change the entertainment business has started!! 6060

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About CARAC Token, the reserve currency of Jyanna World, a communication square developed by CARAC as a metaverse space, we will announce a new service for users worldwide.
https://www.carac-jp.llc/
https://www.carac-jp.llc/_files/ugd/105a0d_0f4732aa61d54e1aaf4934c04bccba48.pdf

CARAC, LLC. (CARAC) is a company that has developed Jyanna World, a platform for building a communication square in a metaverse space and distributing the real world through live streaming.

1. In Jyanna World, there are two avatars: (1) AI avatars that transmit information in the meta-space and (2) user avatars that catch the information.

  • AI avatars in (1), such as celebrities, idols, cosplayers, singers, the proprietress of a hot spring resort, the chairman of a tourism bureau, and other information-transmitting, real-life people exist as official avatars and stroll around Jyanna World.
  • When the user avatars in (2) want to obtain information for their purpose, they ask questions to the AI avatars in (1) via chat, and the AI avatars in (1) respond through the chat Bot.
  • User avatars in (2) have access to both free and paid areas of Jyanna World. The paid area requires a “Pass,” which the NFT manages.

* CARAC Tokens are required to purchase the Passes. Users in (2) with the Pass can access paid areas to obtain information only available in that area and receive services such as gift items that can be used in Jyanna World.

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2. The live feed is built on the following three components;

  • A. Real underground idols and cosplayers will live-stream as Livers and communicate with fans by responding to chats from them. Fans can support the Livers by giving gift items they have purchased.
  • B. Live streaming of a singer’s or artist’s concert simultaneously.
  • B.-1 Communication service with fans in which artists sing songs and respond to messages sent by fans via chat.
  • C. Live streaming from domestic tourist attractions, amusement facilities, and event venues. Tourists can learn the status of crowds and events taking place simultaneously through live streaming and make appropriate decisions.

Entermedia, Inc., a company that handles large-scale festivals in Japan, serves as the front of contact for concerts and events.
https://www.entermedia.co.jp/
https://prtimes.jp/main/html/rd/p/000000013.000037190.html　

STARDUST PROMITION, INC. (https://www.stardust.co.jp/), which features AI avatars at Jyanna World and uses many artists and idols for over 200 box offices, concerts, and events annually, has planned live concert streaming (B. and B.-1) and past concert streaming featuring official AI avatars.

With those deliveries, fans with “Passes” purchased with the CARAC Token will be able to watch the special live streaming from backstage immediately after the concert and will be able to present items to the artists.

For example, if an artist has a birthday and a fan presents him or her with a birthday cake image item, the artist will feel happy and call the fan’s name over his or her phone in the streaming.
https://prtimes.jp/main/html/rd/p/000000016.000037190.html　

As described above, Jyanna World users are divided into general users and VIPs with Pass Tickets. NFT manages Pass Tickets and requires CARAC Token for purchase.

The CARAC Token is essential to enjoy 100% of the live streaming experience at Jyanna World.

As long as entertainment exists and fans of artists, idols, singers, etc., in the real world continue to exist, CARAC Token, the reserve currency of Jyanna World, will be indispensable in fulfilling fans’ desires.

Fans purchase “Pass Tickets,” which can only be purchased with CARAC Token, to attend live performances by their favorite artists and idols and support them 100%. Since fans need to purchase Pass Tickets each time they attend a show, the more Pass Tickets they purchase, the more the value of the CARAC Token increases, and the Token’s value can be secured and protected.

CARAC Token can be purchased at xt.com (https://www.xt.com/ja/trade/carac_usdt), xt.com is paying attention to this Token so much because it is necessary for many artists and fans.

To provide even more valuable space and streaming, CARAC has begun negotiations with not only many domestic production companies but also with overseas entertainment production companies for distributing overseas artists.

DCS Card Centre launches payment Token DUS, to be first deployed and issued on PlatON Network 5436

DCS Card Centre (DCS) recently announced the official launch of its payment token, DCS Tokens (DUS), which will be first deployed and issued on PlatON Network.

This issuance marks a major breakthrough in the field of blockchain payments, demonstrating the determination of PlatON and DCS to use advanced technology to drive innovation in the payment industry. DCS has also become the first financial institution in Singapore to launch an initiative aimed at bridging the transitions between Web2 and Web3 ecosystems after the Monetary Authority of Singapore (MAS) introduced the Single-Currency Stablecoin (SCS) Regulatory Framework.

DCS is a financial institution governed by the MAS under the Banking Act and licensed to issue credit and charge cards. DCS will continue to lead the revolutionary innovation and integration in the next-generation digital payment field.

DCS Tokens (DUS) represent a unique convergence of digital assets and traditional finance. DCS Tokens are tokenized from credit card transactions processed by DCS and can only be returned to DCS for redemption as card spend limits. These tokens are designed to provide value stability (1USD:1DUS) and act as a trusted connection between Web3 and card payments globally in Web2.

PlatON Network, known for its high security and scalability, will provide a solid technical foundation for the issuance of DUS, ensuring that users can conduct transactions in a fast and secure network environment without worrying about privacy and data security issues.

The redemption of DUS for conversion into increasing a DCS cardholder’s spend limit or paying outstanding balances back to fiat is fast and seamless, as the transaction is executed instantly on D-Vault. D-Vault, a feature within the DCS Cards app, also allows bank transfers and conversion of digital assets. This innovation empowers users to seamlessly optimize and toggle between the convenience and efficiencies of Web2 and Web3.

In addition to co-issuing DUS, DCS will also explore a new ecosystem of financial services on Web3 with PlatON based on blockchain, privacy-preserving computation, artificial intelligence (AI), and other technologies, promoting innovation and development of blockchain technology in the field of payment and clearing. At the same time, DCS became the first heavyweight financial institution to sign up for TOPOS (an encrypted payment and clearing operation system based on PlatON), initiating and building the TOPOS ecosystem together with PlatON.

PlatON is an open financial infrastructure with privacy-preserving computation as its technical feature. Initiated and promoted by the LatticeX Foundation, PlatON aims to become a major blockchain platform in the era of Web3. It secures stability and performance on a par with that of the financial system and provides privacy-enhanced compliant digital asset management, multi-scenario encrypted payment and clearing solutions, and a smooth and user-friendly experience for various types of Web3-native applications and applications/users migrating from Web2 to Web3.

TOPOS is an open payment and clearing operation system based on blockchain, adhering to an OPEN LOOP multi-party architecture. With the underlying payment logic based on tokenized money, TOPOS enables users to self-mint “money” in the Web3 era and transfer value in a secure, controlled way. TOPOS will gradually build an open clearing and settlement system for Web3 in a compliant, secure, open and convenient manner.

This historic collaboration between the two parties is grounded in their shared vision and value judgment for the future of global digital payment and clearing. The TOPOS network offers DCS a complete underlying solution for issuing tokenized money compliant with the PlatON Network, assisting DCS in securely, stably and transparently managing the minting, burning and scenario-based use of tokens.

Through this partnership, the industry is presented with PlatON’s comprehensive strength and ambitious vision in Web3 open financial infrastructure and its ecosystem. It marks the initiation of TOPOS’ business strategy as the global digital currency payment and clearing network for the Web3 era. This proves that TOPOS is poised to thoroughly and deeply support various traditional financial institutions in their strategic transition to open finance under the Web3/digital currency system. Moreover, it is ready to serve more financial institutions committed to the construction of the new TOPOS clearing network.

Backed now natively issues tokens on BNB Smart Chain: enabling new integrations and scalability 6138

Backed has extended its native token issuance to include the BNB Smart Chain (BSC) to bring our products to a wider audience and give our clients the flexibility to choose the blockchain that works best for their use case.

Backed is on a mission to bring off-chain assets onto crypto rails. We issue ERC-20 tokens – or equivalent on other chains – that track the value of treasury and corporate bond ETFs as well as stocks. The tokens are freely transferable across wallets, fully collateralized by the underlying assets, and issued in compliance with Swiss regulations – which is at the forefront of blockchain technology regulation.

One of BNB Chain’s main value propositions is its community, as it is the world’s largest smart contract blockchain by daily active users. This integration provides a large and active user base, enhancing liquidity and market access for our products. BNB Chain offers significantly lower transaction fees compared to the Ethereum network, making it more cost-effective. BNB Chain is designed to handle high transaction volumes with faster block confirmation times. This marks another milestone towards Backed’s mission to enable the seamless integration of RWAs on-chain.

Backed’s products are already finding use cases such as collateral for stablecoins and money markets by Angle Protocol – making use of bC3M and bHIGH. Ribbon Finance is utilizing bIB01 for its own structured product yields. Our tokenized treasury products are also being used by treasury managers as a yield-baring, stable way to park their funds fully on-chain.

Backed strives to enable innovation and we will continue to expand our token issuance to new networks.

“We’re thrilled to announce the extension of our native token offering to the BNB Smart Chain. At Backed, we believe in providing our clients with choices, and this expansion allows them to choose the best-suited chain for their needs. Our BEP-20 tokens on BSC are fully compatible with our ERC-20 tokens on Ethereum, ensuring seamless integration across networks.

This integration with the BNB Chain ecosystem brings our products to a large and active user base, saves costs, and provides better market access for tokenized real-world assets.” – Giorgio Giuliani, Head of Product at Backed.

About Backed Finance

Backed is a Swiss start-up bridging real-world assets on-chain. Backed issues on-chain tokens that track the value of real-world assets, such as stocks or ETFs. Tokens are freely transferable across wallets, are fully collateralized by the underlying asset, and are issued in compliance with the Swiss DLT act.

Backed’s products are only sold directly to qualified investors and licensed resellers. Backed’s tokens are not offered, sold or delivered within the United States, or for the account or benefit of U.S. Persons.

Learn more about Backed at backed.fi.

About BNB Chain

BNB Chain is a community-driven and decentralized blockchain, powered by BNB. It consists of BNB Beacon Chain, its staking and governance layer, BNB Smart Chain (BSC), which is EVM compatible and facilitates a multi-chain ecosystem with its Layer-2 solutions, and BNB Greenfield, its decentralized data storage network. It is the world’s largest smart contract blockchain by daily active users. It has processed 3 billion transactions to date from 232 Million unique addresses making it the largest layer 1 blockchain globally and bringing developers massive user access with ultra-low gas fees, higher transactions per second and has experienced zero crashes since its inception. The ecosystem has more than 1,500 estimated active dApps at any given time across multiple categories such as DeFi, Metaverse, Blockchain Gaming, SocialFi, NFT, Infrastructure, and more. There are numerous programs available to support the Web3 ecosystem including the Gas Grant, Builder Grant, Kickstart, Most Valuable Builder (MVB) and AvengerDAO.

DeFi Technologies Inc.’s Wholly Owned Subsidiary Valour Inc. Unveils Ethereum Physical Staking ETP: Simplifying Staking Innovation for Traditional Investors 7529

DeFi Technologies Inc. (the “Company” or “DeFi Technologies”), a crypto native technology company that pioneers the convergence of traditional capital markets with the world of decentralized finance (“DeFi”), is excited to announce that its subsidiary Valour Inc. (“Valour”), a leading issuer of exchange traded products (“ETPs”) that provide simplified access to digital assets, has launched its 1Valour Ethereum Physical Staking ETP, set to redefine and simplify the Ethereum investment landscape. This innovative product aims to harness the essence of Ethereum while offering investors access to additional yield income opportunities.

The 1Valour Ethereum Physical Staking ETP (ISIN GB00BRBMZ19) is issued by Valour’s new EU-wide issuance platform for physically stored digital assets Valour Digital Securities Limited (“VDSL”). This Jersey-based securities issuer has garnered approvals from both Swedish and Jersey regulatory entities and is underpinned by digital assets physically safeguarded by licensed custody providers.

Available for trading on the Frankfurter Wertpapierboerse/ XETRA, the new staking ETP is poised to simplify network participation for investors. With a fixed yield, undefined expiry and a 1.49% management fee, investors have the potential to earn passive returns, sidestepping the technical challenges involved with staking, and actively contributing towards the evolving DeFi landscape. Enhanced security measures including slashing insurance and full collateralization mean investors benefit from additional transparency and security measures.

Crypto staking represents a cornerstone in blockchain dynamics. It enables enthusiasts to immerse in the governance and consensus of Proof of Stake (PoS) blockchains, earning rewards for their contributions. Contrary to energy-hungry Proof-of-Work systems, PoS networks lean on validators who pledge assets to corroborate and usher new blocks. However, the staking landscape isn’t without its intricacies – validators often grapple with asset lock-ups during bonding periods, as well as enduring unbonding spells prior to rewards being unlocked.

Olivier Roussy Newton, CEO of Valour, comments, “The 1Valour Ethereum Physical Staking ETP exemplifies Valour’s commitment to creating innovative and trustworthy investment vehicles. We understand the challenges and complexities of crypto investments. Our mission is to bridge the gap, providing opportunities to enhance returns which are straightforward for our investors. In addition, all ETPs issued under the VDSL umbrella are endowed with the physical delivery option that might benefit investors based in Germany with a tax benefit after a holding period of one year.”

Partnering with elite entities like the VQF registered Copper Markets (Switzerland) AG for custody and industry stalwart Blockdaemon for staking services, Valour guarantees paramount security, ensuring a consistently collateralized, non-custodial staking environment.

Valour Inc. invites progressive investors to partake in this revolutionary venture, unlocking Ethereum’s potential in the most accessible and safeguarded manner.

In addition to their novel digital asset platform, which includes 1Valour Bitcoin Physical Carbon Neutral ETP and Valour Digital Asset Basket 10, Valour offers fully hedged digital asset ETPs with low to zero management fees, with product listings across European exchanges, banks and broker platforms. Valour’s existing product range includes Valour Uniswap (UNI), Cardano (ADA), Polkadot (DOT), Solana (SOL), Avalanche (AVAX), Cosmos (ATOM), Binance (BNB), Enjin (ENJ), Bitcoin Carbon Neutral (BTCN) and Valour Digital Asset Basket 10 (VDAB10) ETPs with low management fees. Valour’s flagship products are Bitcoin Zero and Ethereum Zero, the first fully hedged, passive investment products with Bitcoin (BTC) and Ethereum (ETH) as underlyings which are completely fee free.

About DeFi Technologies

DeFi Technologies Inc. is a crypto native technology company that pioneers the convergence of traditional capital markets with the world of decentralized finance (DeFi).

With a dedicated focus on industry-leading Web3 technologies, DeFi Technologies aims to provide widespread investor access to the future of finance. Backed by an esteemed team of experts with extensive experience in financial markets and digital assets, we are committed to revolutionizing the way individuals and institutions interact with the evolving financial ecosystem.

For more details, visit https://defi.tech/

About Valour

Valour Inc. issues exchange traded products (ETPs) that enable retail and institutional investors to access digital assets like Bitcoin in a simple and secure way via their traditional bank account. Established in 2019 and based in Zug, Switzerland, Valour is a wholly owned subsidiary of DeFi Technologies Inc.

For more information on Valour, visit https://valour.com

MEKE’s popular public beta boosts BNB L2 trading volume 9396

Over the past year, the most prominent trend in the cryptocurrency market has been the emergence of layer-2 networks. Layer 2, also known as L2, refers to the second layer of solutions designed to address the issues of scalability, speed and high gas fees that are present in L1 networks such as Ethereum and BNB Chain. This introduction of L2 solutions has presented the cryptocurrency market with numerous possibilities.

Whether it was last year’s Optimism or this year’s Arbtirum in March, both have sparked a tremendous surge in demand. The popularity of L2 solutions can be attributed not only to their ability to enhance the performance of blockchains but also to the attention generated by the platforms themselves. Additionally, the emergence of high-quality applications on L2 networks has propelled the entire industry forward.

Both Ethereum and BNB Chain belong to the top tier of L1 networks, with BNB Chain positioning itself as a strong candidate to compete for the top spot against Ethereum. Recently, BNB Chain released its own L2 solution, OpBNB, which features a derivative trading protocol named MEKE. After years of development, MEKE was selected for deployment on the OpBNB test network and has undergone a thorough security audit by the globally recognized firm Certik. On July 31, MEKE commenced its highly anticipated public beta testing, which is expected to conclude shortly. Since the start of the public beta phase, OpBNB’s trading volume and user activity have experienced a significant boost. Participants in the MEKE public beta can enjoy similar benefits as those who participated in the early testing phases of DYDX, Optimism and Arbtirum.

MEKE is a decentralized derivative trading platform developed by a team from the United States in 2021. It facilitates the trading of perpetual contracts on various mainstream cryptocurrencies such as Bitcoin and Ether, with future plans to expand its offering to include commodities like gold, oil, and even US bond futures. MEKE’s standout features include its utilization of smart contracts to ensure transparent and traceable transactions, making it impossible for any party to manipulate the trading process. Furthermore, its user-friendly interface delivers a trading experience similar to centralized perpetual contracts, enabling smooth adoption for users with basic knowledge of wallet operations. The platform also implements a classic order book model, providing a visual representation of trading activity that aligns with the habits of financial professionals and facilitates precise data analysis. Lastly, MEKE boasts a robust proprietary trading engine that enhances transaction efficiency and concurrency.

Another notable highlight is MEKE’s deployment on OpBNB. While there are already numerous products available in the L2 market for ETH, OpBNB was only launched less than a month ago. Introduced by the original BNB Chain team, OpBNB possesses a remarkable block time of one second and offers low gas fees for transfers, amounting to as little as $0.005. It boasts a TPS (transaction per second) exceeding 4,000, surpassing the performance of existing scalability solutions. It is important to note that OpBNB has yet to issue its own platform token.

Cryptocurrency perpetual contract trading currently amounts to trillions of dollars in daily trading volume, twice exceeding that of spot trading. The profits generated by the perpetual contract market are a significant figure. Despite this, decentralized derivative trading, which accounts for only approximately 2% of the overall market, undoubtedly has enormous potential.

MEKE initiated its first phase of public testing on July 31 and is expected to conclude in a short span of time. Due to its expansive market potential and robust technical framework, MEKE has garnered considerable attention globally, featuring coverage in English and Chinese media. It is evident that MEKE’s public testing has led to a surge in transaction volume on the OpBNB testnet.

Similar to other prominent projects, participating in MEKE not only allows one to stay informed about the latest developments in blockchain technology but also provides the opportunity to gain significant potential benefits such as fee sharing and airdrops. Participating in the MEKE public testing phase may offer benefits comparable to early adopters of DYDX, Optimism and Arbtirum testing.

Given the limited issuance of MEKE platform tokens, a unique issuance mechanism has been devised: Participants who engage earlier will receive more substantial benefits. If one joins the public testing phase late, the MEKE testing incentives will gradually diminish until they are fully distributed. The MEKE public testing phase is currently underway.