BITMAIN IPO MAKES CRYPTO INDUSTRY UNEASY 6523

Cryptocurrency mining giant Bitmain continues to gain attention over its initial public offering (IPO) as critics raise the alarm over its financial outlook. As Dut.Biz reported at the end of July, the manufacturer announced its plans to hold a $14 billion IPO before the end of 2018, having achieved Q1 profits of over $1 billion.

Since then, data about the offering to pre-IPO investors have raised suspicions over Bitmain’s prospects, doubts specifically focusing over its huge reserves of altcoin Bitcoin Cash (BCH), which would remain illiquid unless markets transformed prior to the IPO date.

“According to the Bitmain pre-IPO investor deck, they sold most of their [Bitcoin] for [Bitcoin Cash],” Blockstream CSO Samson Mow wrote on Twitter August 11.

The pre-ICO figures the company released last week saw many sources conclude its degree of investment in BCH could ultimately spook investors who understand the state of the altcoin’s liquidity and Bitmain’s role in preserving it.

Beyond BCH, Bitmain’s undisclosed but likely underwhelming Q2 performance, lack of competitiveness, unsuccessful recent product launch and the cryptocurrency bear market are all factors stacked against it.

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Magic Eden Launches Open Creator Protocol to Enforce Royalties for New Solana NFT Collections 1416

Today, Magic Eden (“The Company”), the leading cross-chain NFT platform, launched the Open Creator Protocol in response to recent royalty enforcement changes in the NFT landscape. The Open Creator Protocol (OCP) is an open source tool built on top of Solana’s SPL managed-token standard. Creators launching new collections who opt in to using the protocol will be able to protect their royalties and enjoy additional features including dynamic royalties and customizable token transferability.

“The Solana community has been waiting for solutions to NFT royalties,” Jack Lu, CEO and Co-Founder of Magic Eden commented. “We have been in active conversations with multiple ecosystem partners to identify solutions for creators in a timely manner. Our intention with Open Creator Protocol is to immediately support royalties for creators launching new collections, while continuing to coordinate with ecosystem partners for more solutions.”

The Open Creator Protocol, which will impact creators launching new collections, will be available starting December 2. Magic Eden will enforce royalties on all collections who adopt the protocol and allow creators to ban marketplaces that have not enforced royalties on their collection. For new collections that don’t adopt OCP, royalties will remain optional on Magic Eden. At the same time, Magic Eden will also welcome the inclusion of other future royalty enforcement protocols that emerge and gain market adoption.

Open Creator Protocol includes additional features beyond royalty enforcement, including dynamic royalties and customizable token transferability. The dynamic royalties feature will specify a relationship between an NFT’s sale price and royalty amount via a linear price curve, potentially reducing the nominal value of royalties for buyers who pay a higher price for the NFT. Customizable transferability can include many use cases, such as the collection’s tokens remaining untradable before mint closes, or limitations on tradability by time, total number of trades, or metadata text. This can create fun ways for creators to gamify the rules of their own collection’s trading behavior. Magic Eden is also unveiling bulk transfers on the platform so collectors can move their NFTs freely for collections using the Open Creator Protocol.

Upon launch, Magic Eden will be hosting “Magic Mint”, a free mint for users to pilot the Open Creator Protocol and its many features, including protected royalties, dynamic royalties, and customized transferability. The mint will supply a couple thousand gift boxes, some of which will contain prizes including a free MacBook Air laptop, whitelist access to the Tomorrowland’s December mint (The Symbol of Love and Unity), access to Genopet’s game, and free NFTs from Degen Trash Panda and Liberty Square. The collection will have enforced royalties per the Open Creator Protocol.

About Magic Eden

Magic Eden is the leading cross-chain NFT platform driving the next billion users to Web3. Led by former crypto, tech, and hospitality leaders, Magic Eden is building a user-friendly platform powered by market-leading minting and trading solutions. Magic Eden brings dynamic cultural moments onto the blockchain, empowering users across thousands of digital communities to create, discover and collect unique NFTs. For more information, please visit  www.magiceden.io.

Xult: A gateway to an ultimate crypto trading platform 1596

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Following the greatest revolution of the 21st century, decentralization of the financial institutions came into the picture. This led to the creation of various other cryptocurrencies and multiple digital exchange platforms for the trading of decentralized cryptocurrencies.

Since then various crypto exchange platforms were introduced to the public. However, there were only a few platforms that provided the liberty of trading in the hands of the traders. Xult is one such platform that runs with the motto of allowing traders to trade the way they want.

With the team’s continuous efforts Xult has been launched as an intuitive platform. Users can enter one of the most hassle-free and user-friendly cryptocurrency exchanges and enjoy the perks of various trading tools by going through a simple registration process on the platform.

A stand-out modular dashboard

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The whole new dashboard of Xult is curated to provide users with the ultimate usability. The easy-to-use interface of the platform makes it easier for both newbies and experts to trade seamlessly on the platform. Besides the dashboard, the performance trading screen is also fully modular, resulting in users experiencing a customizable workflow that matches their needs.

With various options, and filters, available on the dashboard, traders can change the layout of the page and choose the visible tabs, and fall in love with the simple yet advanced personalized dashboard accommodating their specific preferences.

Keeping digital safety at utmost priority, Xult offers a trustworthy Identity Verification Service, where traders can take advantage of Two Factor Authentication (2FA). The latter is a great tool for users to lock their accounts with not only passwords but an additional verification layer. This way users can get access to the ultimate trading dashboard without having to worry about their account security.

Favorable price charts

Xult provides users with a price chart created by TradingView to ensure accuracy and consistency. The chart is compatible with all users from beginners to experts. There are various features applied on the price chart toolbar that make trading easier.

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Users can spot a currency selector on the top of the price chart and pick their favorite cryptocurrency pairs along with some convenient shortcuts. Additionally, users can also just tap on the ticker symbol of the currency in which they are interested to trade. Besides the currency, there’s a basic information section about the chosen digital currency, such as 24h change, the highest and lowest 24h prices, and the corresponding volume.

Surrounded by toolbars, the price chart gives an insight into the technical analysis tools. The top and bottom ones enable users to choose the style of the chart and set some basic parameters, such as the time interval and visible indicator panes. The left-hand one incorporates various drawing tools for users to conduct advanced technical analysis.

Key features and its use-cases

Xult comes in with some unique features, along with its use cases that make trading a cakewalk.

  • Privacy coin support: Xult works with a mission to safeguard users’ privacy and offer cryptocurrencies that take protection very seriously. This way the platform helps users to trade on the platform without worrying much about security.
  • Confidentiality: The algorithms are designed in a way to ensure that users can verify the credibility of the transaction. This will not only benefit the user community, but also secure traders’ sensitive information without any need for expansive collection and storage. The Know Your Client regulations, makes it easier for the platform to collect data that are absolutely necessary to protect the users against scam or otherwise illicit transactions.
  • Fees minimization: Xult offers users massive discounts for their transactional fees. To be a part of this massive discount, users just need to choose the EXCC cryptocurrency and avail of the 50% fee reduction. EXCC is not just another altcoin, but the continuous development and enhancement services add more value to the overall project.

About Xult

Xult is a decentralized cryptocurrency exchange platform that comes with a user-friendly UI/UX. The Xult ecosystem is integrated with both Xult and ExchangeCoin (EXCC). The latter has been in the market for almost 5 years and has built an excellent user community so far. EXCC is a decentralized and open-source token that readily verifies its code and its developer’s intentions.

When it comes to Xult as a platform it offers users various features and use cases aforementioned. These features offer multiple advantages to the users such as ‘quick trading’ which enables traders to place orders of their choice, ‘wallets’ which keeps a check on the balance of digital currencies in the wallets, and the ‘history’ tab for tracking all the previous transactions.

Additionally, ‘Performance Trading’ ensures users are opened to an advanced interface that enables placing orders with specific parameters. With the ‘market’ feature, traders can access the table which highlights the quotations for all pairs of digital currencies supported by the platform.

All these summed up together provides ground for Xult being a hassle-free trading platform along with the users enjoying the liberty of optimum trading.

For more information on Xult, visit the following:

Website: https://xult.com/
Twitter: https://twitter.com/XultExchange
Telegram: https://t.me/xult_com
Discord: https://discord.com/invite/3Zs8AfqUby

KEY3․id Launches Bored Ape Domain ․bayc, the First Digital Identity Bound to Blue Chip NFTs 2140

Today at 20:00 (UTC+8) KEY3.id, a distributed, open, and extensible naming system launched the first Blue Chip NFT bound decentralized identifier (DID) .bayc. Bored Ape (BAYC) NFT holders now claim the corresponding numbered DID, e.g. 0000.bayc, for free at KEY3.id. The .bayc DID is bound one-to-one to the BAYC NFT, and there are only 10,000 DIDs available to claim.

According to the KEY3.id, the .bayc DID is the first ABT (Asset Bound Token) tied to a Blue Chip NFT and is only available to BAYC NFT holders and is not transferable. KEY3.id ‘s CEO Kory Pak tweeted that .bayc may usher in a new stage of “Asset as your DID”.

The launch of .bayc immediately generated mass buzz and followers in the BAYC community, including some of Web3’s most famous influencers. Game Space CEO Michael Cameron minted 6669.bayc and changed his Twitter name into “Michael Cameron 6669.bayc”; former Huobi Global CEO 0xLivio minted 2883. bayc, and also changed his Twitter name accordingly.

Michael Cameron said: “.bayc combines the uniqueness of short digit domains and the numeric features of Bored Ape and only BAYC NFT holders can claim it, which can effectively reflect the assets of DID holders. .bayc is expected soon to become the most sought-after DID , and may even drive up the price of BAYC NFT, especially favorable to the ones who possess great numbers. “

Several BAYC NFT holders said that the most valuable aspect of .bayc is the Asset Bound Token feature. It ensures its reliability, follows the NFT and cannot be traded separately, and once the NFT has been transferred or traded, its corresponding DID will also be destroyed.

KEY3.id CEO Kory Pak continued that KEY3.id will soon partner up with dozens of Wallets, DeFi, GameFi, SocialFi, dApps and other projects, including Bitkeep Wallet and KuCoin Wallet to collaborate on the use of .bayc such as replacing the long public address into easy to read and memorable DID that can be linked to your wallet to send and receive funds,transfer tokens or NFTs, use as an ID, social networking, GameFi and other Web3 scenarios.

In addition to .bayc, KEY3.id will soon support the DIDs of 20 other Blue Chip NFT binding domain names such as .punk, .doodle and .mfer etc. According to its official website, a community voting campaign will be opened in early December and the NFT project with the highest number of votes that week will be available to mint for its corresponding domain name.

About KEY3.id

The KEY3.id is a distributed, open, and extensible naming system based on the Ethereum blockchain. .did is the 1st DID launched by KEY3.id, aimed to provide users’ free with decentralized identity in Web3 with the features of Free to claim, Free to renew, Free forever. KEY3.id also supports the DIDs of 20 other Blue Chip NFT binding domain names such as .punk, .doodle and .mfer etc.

Twitter: https://bit.ly/tuiwly
Discord: https://bit.ly/ggwly
Medium: https://bit.ly/zhongwly
Website: https://KEY3.id

How to get a crypto exchange license in UAE 2294

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Taking into account the steadily growing popularity of crypto projects around the world, the UAE has chosen a proactive approach with regard to the industry. This jurisdiction is open to entering international capital and ensures a balanced approach to crypto regulations.

Local regulations in the Emirates are strict in nature but are not bureaucratized. Among all emirates, Dubai is surely distinct in this regard as local authorities provide advantageous conditions to start crypto projects. The UAE is a good place to start a crypto exchange, for instance. But, passing through the licensing procedure is required in any case.

Getting a crypto exchange license UAE with Prifinance Company guarantees the easiest way of completing the procedure provided that the must-have demands of the local regulator are addressed properly. Our lawyers have experience in addressing efficiently the nuances of crypto projects in the UAE. Interested investors may find the background information from our lawyers about cryptolicensing in UAE useful for their awareness and business planning.

Important Points to Know

Starting a crypto exchange needs to address specific regulations more precisely compared with the rest of the crypto-friendly jurisdictions. For this purpose, it is necessary to:

  • incorporate a separate legal entity;

  • take care of arranging an official legal address in the jurisdiction;

  • arrange appropriate IT and technical resources to start a crypto exchange;

  • develop effective internal policies aimed at monitoring and identifying clients plus the sources of their funds used to buy/sell crypto  assets;

  • form the required capital resources;

  • create the procedure for enhanced  verifications in the case of potentially suspicious transactions;

  • report to the regulator on account of suspicious operations (in the first turn about those that are likely related to money laundering and terrorism financing);

  • observe the provisions of security laws;

  • assign a separate AML officer in the company responsible for observing all applicable rules;

  • arrange periodical training for staff;

  • follow reporting standards according to the requirements foreseen by the law and other requirements.

Taxation of corporate incomes is exempted (0%) during the next 50 years after company registration. Import and export taxes – 0%.

How Prifinance Specialists May Help You

If you wish to explore a huge market after opening a crypto exchange in the UAE, Prifinance specialists are ready to assist you in this course, including but not limited to:

  • collecting all required details and documents that the local regulator may request to start the project;

  • choosing the most suitable entity type and  registering a new legal entity;

  • drafting all necessary statutory, registration, and compliance documents;

  • opening bank accounts and arranging business relations with alternative payment operators;

  • carrying out all required negotiations with the local officials;

  • assisting with resolving all issues  that may occur during the operation of a cryptocurrency exchange.

Share the details about the background of your business case as well as future business objectives you intend to realize in the UAE. Prifinance lawyers are ready to help you with the realization of those in the easiest and most straightforward way.

WeSendit 3.0: The Web3 data storage revolution from Switzerland 2502

Swiss data transfer company is “the first gateway to the world of decentralized networks.” Its new platform, WeSendit 3.0, supported by the new WeSendit token (WSI), will harness the power of the blockchain and offer users the “safest, easiest and most reliable data transfer ever.” Here is everything you need to know about a project that has been gaining momentum recently.

Who is WeSendit?

With more than 3.5 million users from 150 countries and over 10 years of experience, WeSendit is an established player in the world of file transfer and storage. The company is based in Zug, the “Swiss Crypto Valley.” Clients include global players such as Meta (Facebook), Nike, Disney, DreamWorks and Red Bull.

Since its foundation, 2.85 billion data records have been processed through the company’s platform. WeSendit has learned what users expect from a first-class file transfer and storage service. The company is now using this knowledge to develop WeSendit 3.0 and make the seminal leap into the world of Web3.

The founder and CEO and his team have been working on blockchain-related projects for years. Herbst has formed a talented international group of experienced crypto experts, developers, economists and marketing specialists.

Which solution does WeSendit offer its users?

The company is rooted in the traditional Swiss values of privacy, reliability and stability and seeks to translate these values into the new world of Web3.

With the importance of data transfer growing year after year, WeSendit believes that it is time for a solution that is not just for experts, but for the general public. Its goal is to become the world’s first and user-friendliest gateway to the world of decentralized file transfer and storage solutions.

How does WeSendit plan to achieve its goals?

As a Web3 aggregator, WeSendit will provide interfaces that show on-chain data and allow users to interact with smart contracts from multiple platforms, such as Sia, Filecoin, Storj or Skynet.

The data transfer pioneers can also count on the support of Crypto Valley Switzerland and the Swiss Chamber of Commerce.

Two elements build the core of WeSendit’s move into Web3: WeSendit 3.0 and the WSI token.

WeSendit 3.0 — The platform

Core elements of WeSendit 3.0 include:

  • Data security: Through state-of-the-art encryption;
  • Geo-redundant storage: Data storage across the world;
  • Privacy protection: Anonymous data checks through a blockchain consortium network and no third-party access;
  • Simple data management: Easier overview, management and collaboration with others;
  • Backup and restore: No more single points of failure.

Further highlights include:

  • Pay as you go: Users only use and pay for the services they really need;
  • Branding channel: Companies can present their data transfer and storage in their own corporate design;
  • File management: Easier management and archiving of files;
  • Paid downloads: Users can offer paid downloads and sell their products;
  • Ads manager: Easily reach potential customers with customized ads on WeSendit.

WeSendit 3.0 will follow a hybrid approach with a modular infrastructure. The various features will form a unified interface based on dynamic technical building blocks that are perfectly suited for rapid scaling.

WSI — The WeSendit token

The WeSendit utility token (WSI) is based on the BNB Smart Chain (BEP-20). It is the central element of WeSendit 3.0 and offers a variety of functions and benefits:

  • Use of digital products and services within the WeSendit 3.0 ecosystem;
  • Lower and simplified fee structures in comparison to traditional mechanisms;
  • Activity rewards for using the new services;
  • Referral program incentives for users;
  • Generate passive income through staking;
  • Trade and swap with other crypto assets.

What makes WeSendit’s solution so promising?

WeSendit’s ambitious Web3 project comes at a time in which data transfer and storage are becoming more important than ever.

The German statistical company Statista expects global file-sharing storage consumption to grow from 175,000 to 700,000 terabytes within just a few years. Storage consumption per user is also expected to grow significantly.

The company will position itself as a combined managed file transfer and sharing/application specialist in decentralized data processing solutions.

WeSendit 3.0 will fill a gap in the market at a time in which more and more organizations are willing to implement alternative data storage solutions. These factors, in combination with WeSendit’s potential for rapid scaling, could enable the company to secure a disproportionate market share in the near future.

Outlook: What’s next for WeSendit?

WeSendit is dedicated to developing a solution that will help users benefit from the full potential of decentralized networks. While its developers are working on the groundbreaking features of the new platform, the team is preparing for a public listing on PancakeSwap on Dec. 1, 2022, at 8 pm CET.

Visit wesendit.io for more information on the project.

HOOF Financial Inc. Launches First-of-its-Kind Tokenized ESG Credit to Help Impact Investors Evaluate Corporations 2624

HOOF Financial, Inc. is excited to announce the launch of HOOF Coin™ America’s ESG Credit™, a first of its kind, asset backed, consumption level sustainability token and predictable store of value that enables corporations to transform operational expenses into investments in environmental, social, and governance issues. HOOF will raise private capital to source, tokenize and sell high-quality, verifiable ESG credits so that corporations can track, monitor, and report their impact as corporate citizens in real time.

The platform will seek to catalyze investments in corporations with values and business practices that promote social and environmental sustainability. This new model for the impact investing ecosystem will deploy innovative technologies that help identify, monitor, evaluate and natively tokenize verifiable ESG investments.

“The problem with ESG data is that it is primarily focused on how companies manage their internal practices, is typically 3 to 12 months old to investors, or sprinkled with assumptions about its real-world impact,” said Kelvin Cook, Founder & CEO of HOOF Financial, Inc. “We enable issuers to continue to focus on their controllables while incentivizing their employees and customers to consider impact related purchase decisions in their everyday lives. They aren’t told what to buy, when to buy, or who to buy from. They’re simply made aware of the companies with whom they share similar values and are given a personal incentive to check them out when they’re ready.”

This new framework will use blockchain technologies to enable corporations of all sizes to invest in ESG issues, maximize corporate influence as it pertains to social and environmental sustainability, and enable impact investors to confidently engage in due diligence in a transparent, fair, timely and beneficial manner.

About HOOF Financial, Inc.

HOOF Financial, Inc. is a blockchain based Environmental, Social, Governance (ESG) data provider that turns operational expenses into impact investments for Issuers. By rewarding employees, customers, and partners with HOOF Coin™, America’s ESG Credit™, businesses make measurable difference in society without any major changes to their business structure, operations, or model. Our mission is to give everyone the tools they need to be successful with their money, and our vision is to create a world where everyone has the opportunity to build wealth through easy, yet thoughtful decision-making.

Learn more about HOOF It! by visiting www.hoofit.io.