DORA Investigates 3 Cryptocurrency Firms Behind Unregistered ICOs 4439

Colorado’s Department of Regulatory Agencies (DORA) has revealed plans to asses three crypto-based firms offering “unregistered Initial Coin Offerings” in the state as part of an ongoing investigation into a practice being used by fraudulent companies to defraud members of the public.

The investigation is being carried out by members of the Division of Securities, part of the Department of Regulatory Agencies (DORA), an “ICO Task Force” convened by the Commissioner in May.

The announcement from DORA reads in part:

“The companies that received the orders are Bionic Coin, Sybrelabs Ltd. (also known as Cryptoarb), and Global Pay Net (also known as Glpn Coin and Gpn Token). Previous orders were submitted to Bitcoin Investments Ltd. (also doing business as Db Capital), Estatex, Bitconnect Ltd., and Magma Foundation (also doing business as Magma Coin).”

Commissioner Rome signed the “orders to show cause” recently which is a notice sent to business to defend their case in court by explaining their business operations. The court orders were issued on Friday, August 24, 2018, but at press time, none of the three firms have answered, the report notes.

Bionic Coin, one of the firms being investigated promises investors that invest in their token (BNC) a wild growth of their “money without any effort.” The site goes on to list the logos of media partners such as Forbes magazine, but there are currently no mention or reference of the company on the sites it claims are promoting it. The website also incentivizes users to promote the coin on social media for a chance to receive in exchange for tokens.

The story is the same for Sybrelabs and Global Pay Net. Sybrelabs Ltd, also known as Crypotarb encourages investors to promote the investment pool and “offers large percentages of profits for minimum participation of $25.00, up to soliciting “active investment portfolios” of $25,000 or more,” according to the report.

Global Pay Net is said to be an international financial platform with its native token (GLPN) that equates ownership in the business. The company also promises an 80 percent stake in the business for investors, and it lists cryptocurrency experts as advisors, two of whom, has denied involvement with the company.

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Hedera Wallet Snap goes live, connecting the Hedera network with MetaMask’s 30 million monthly active users 8716

MetaMask Snaps, an innovative plugin that provides access to MetaMask’s 30 million monthly active users, is now available on Hedera, the open-source, leaderless proof-of-stake network powering the next generation of the web. Built by Tuum Technologies, a leading developer of open-source decentralized identity solutions, Snaps extends the functionality of MetaMask by enabling developers to create custom plugins. The newly launched Hedera Wallet Snap enhances the overall user experience while streamlining processes for developers, who can now seamlessly integrate Hedera’s functionality into MetaMask-based applications.

Kiran Pachhai, Co-founder of Tuum Technologies, said: “The Hedera Wallet Snap is a sophisticated plugin that empowers developers to enhance the capabilities of their applications beyond the native features of MetaMask. This expansion of MetaMask’s functionality marks a significant step forward in integrating decentralized technologies into mainstream applications.”

The HBAR Foundation, which empowers entrepreneurs to build economies on the Hedera network, has a shared commitment with Tuum Technologies to integrate decentralized technologies into everyday life. The integration of Hedera into an EVM, multichain wallet opens up numerous doors for users, developers, and companies to interact with the Hedera network directly through MetaMask applications. It paves the way for user experience efficiencies, enabling anyone to send HBAR to both Hedera and EVM addresses, as well as retrieve their account information and easily view their token balances.

Shayne Higdon, Co-founder and CEO of The HBAR Foundation, said: “Pivotal as it is, this is just a first step for the Hedera Wallet Snap, with more features and functionality due to be announced later. Today’s news is an important advancement for Hedera’s interoperability, bringing Hedera’s unrivaled scalability, speed, and energy efficiency to more users and developers across the globe. We’re looking forward to seeing the impact this has on the existing Hedera community, and how it contributes to the growth of the Hedera ecosystem among new audiences of enterprises, developers, and individual users.”

The newly announced Hedera Wallet Snap eliminates the need for Hedera JSON-RPC Relay, allowing Hedera Wallet Snap users to retrieve account information from both the Hedera Consensus Node and the Hedera Mirror Node. Hedera Wallet Snap can be installed from MetaMask Open Beta and it is available on GitHub as a JavaScript NPM package, providing access to advanced native features of Hedera.

About The HBAR Foundation

The HBAR Foundation supports the creation of Web3 communities built on the Hedera network, by empowering and funding the builders developing these communities. The Foundation’s six funds – focused on the Crypto Economy, Metaverse, Sustainability, Fintech, Privacy, and Female Founders – each support communities within those areas, and the interconnectedness enables applications to participate as part of a larger ecosystem.

The collective power of these funds enables entrepreneurs, developers, and enterprises of all sizes to tackle some of the world’s largest problems and create and control their own economies, all built on the Hedera public network. Whether you’re building something new or migrating an existing EVM-based application and community, the HBAR Foundation is here to support you. For additional information, please visit https://hbarfoundation.org.

About Tuum Technologies

Tuum Technologies is a software engineering company dedicated to empowering users through data ownership and decentralized identity solutions. Since its inception in 2020, Tuum Technologies has been a pioneer in developing open-source tools that promote user control over their personal data. The company is committed to fostering a world where decentralized technologies seamlessly integrate into everyday life. For more information, please visit https://www.tuum.tech/.

About Consensys

Consensys is the leading blockchain and web3 software company. Since 2014, Consensys has been at the forefront of innovation, pioneering technological developments within the web3 ecosystem. Through our product suite, including the MetaMask platform, Infura, Linea, Diligence, and our NFT platform, we have become the trusted collaborator for users, creators, and developers on their path to build and belong in the world they want to see. Whether building a dapp, an NFT collection, a portfolio, or a better future, the instinct to build is universal. Consensys inspires and champions the builder instinct in everyone by making web3 universally easy to use and develop on. To explore our products and solutions, visit https://consensys.io/.

Fyda Announces Launch of Decentralized Trade Automation Platform 9566

Fyda Finance, an innovative decentralized finance (DeFi) protocol, announced the launch of its groundbreaking automated trading platform. Poised to transform decentralized trading, Fyda departs from traditional models by enabling users to seamlessly automate complex trading strategies in a secure, trustless environment.

“We are thrilled to introduce Fyda’s powerful trading infrastructure to the DeFi ecosystem,” said Narayan, Founder and CEO of Fyda Finance. “We have built an unrivaled platform where traders can automate everything from simple buy orders to advanced techniques like dollar-cost averaging.”

Key features of the Fyda Finance platform include:

  • Percent orders for take-profit targets and stop-loss protection
  • Support for recurring and non-recurring trading strategies
  • Advanced order types like Buy the Dip, Buy the Recovery, Sell the Rally and Trailing Stop Loss, TWAP etc
  • Seamless trading on Polygon, Arbitrum and Optimism L2 networks
  • User-friendly interface and simulation tool for testing strategies

Fyda safeguards trading through smart contracts and on-chain price oracles, shielding activity from MEV attacks. By consolidating liquidity across DEXs, the platform ensures minimal price impact for trades.

Secure, customizable trading automation is integral to DEX trading future therefore Fyda is built from the ground up to meet and exceed traders’ expectations in these areas while smoothing trading experience on-chain.

Upcoming platform enhancements include the introduction of Smart Signals, which will allow traders to incorporate technical and sentiment indicators into automated strategies.

Fyda also plans to roll out copy trading and a Telegram-based UI in coming months.

As part of its commitment to driving DeFi advancement, Fyda will continue expanding asset and network support to extend access to broader trader audiences over time.

Try out decentralized trading automation at Fyda’s dApp today.

DePIN DAO Unveils Solana-Powered Big Data Center, Revolutionizing Fair Data Compensation 9203

With the new developments, DePIN DAO launched a Solana-Powered big data center that revolutionized fair data compensation. The platform is set to transform the dynamics of fair data compensation for ordinary users worldwide.

The platform empowers ordinary users by allowing them to upload personal information related to their daily activities – from dining and commuting to lodging – and the platform establishes a symbiotic relationship between data contributors and data consumers. This user-centric approach lies at the heart of the Solana-powered Big Data Center, marking a significant departure from conventional data industry practices. With the terms of sharing this valuable data, users are rewarded with DePIN tokens following a stringent authentication process, ensuring the integrity and accuracy of the information.

DePIN DAO acts as a hub where diverse user data is aggregated, undergoing robust big data processing to discern patterns, behaviors, and consumption trends. This processed data is then made available to both web2 and web3 application service providers, fostering innovation and development in the digital landscape.

Positioned as a decentralized autonomous organization, DePIN DAO empowers users by providing a platform to contribute and monetize their daily activities, creating a symbiotic relationship between data contributors and consumers.

The platform’s Solana-powered big data works as follows:

  • Repast: Users can upload their dining orders, creating a comprehensive database of consumption patterns. DePIN DAO, through advanced data processing, analyzes dining habits, contributing to valuable insights for businesses and developers. 
  • Drive: Collect driving data to analyze trajectories, contributing to a wealth of information for transportation and urban planning. Users can actively participate in creating smarter, more efficient transportation systems while earning DePIN tokens.
  • Hotel: By uploading hotel orders, users contribute to a pool of anonymized data, enriching the understanding of travel patterns. Third-party service platforms can access this aggregated data, enhancing their services while respecting user privacy.

Including more, DePIN DAO’s commitment to decentralization, innovation, and transparency is evident throughout its operations. The platform actively supports innovation in the digital landscape by providing processed data to web2 and web3 application service providers. This collaborative approach fosters the development of new and innovative solutions based on user behavior, habits, and consumption maps.

Furthermore, DePIN DAO incorporates diverse datasets that include weather conditions, environmental metrics, and traffic patterns. This innovative approach provides a comprehensive understanding of user activities and their broader impact, contributing to the platform’s commitment to ethical data practices and environmental sustainability. By integrating seamlessly with the Solana blockchain, it addresses existing challenges as well as paves the way for a more inclusive and transparent data ecosystem. The platform’s user-centric focus, fair data compensation model, and commitment to ethical practices position it as a beacon of innovation in the ever-evolving landscape of data management.

About DePIN DAO:

DePIN DAO, an innovative decentralized autonomous organization operating on the Solana blockchain. By empowering users to contribute and monetize their daily activities, DePIN DAO aims to transform the dynamics of data sharing, processing, and compensation. The platform is committed to decentralization, fair data compensation, and fostering innovation in the digital landscape.

Website: https://depindao.co/

Hooked Protocol Unveils Education Launchpad, Debuting with Groundbreaking BRC20 Project TUNO 10211

Hooked Protocol (‘Hooked’), the world’s first Web3 social learning platform, proudly introduces Hooked Education Launchpad. As part of Hooked 2.0, it serves as a fair launch platform, empowering qualified projects to educate the community for perpetual growth. The initiative not only supports emerging forces but also drives innovation in Web3, building a diverse ecosystem through collaborative projects and rewarding active involvement.

Hooked Education Launchpad embraces a unique fair launch model, utilizing the $HOOK token for a streamlined process. This exclusive opportunity caters to early-stage projects, facilitating their growth and interaction within the Web3 community. Through a secure liquidity pool feature, early-stage initiatives can incentivize active participation and engagement, offering token rewards before their official public launch. This mechanism not only helps the projects with liquidity but also nurtures a community of eager learners and early adopters.

The launch of the Hooked Education Launchpad marks an exhilarating milestone with the introduction of the first BRC20 project, TUNO. In the dynamic landscape of the burgeoning Bitcoin ecosystem, TUNO emerges as a pioneering solution. It seamlessly combines the liquidity of the Bitcoin network (BTC) with EVM networks, integrating flawlessly within the interconnected Hooked Ecosystem. This innovation unlocks unprecedented liquidity, revolutionizes token transfers, and propels the expansion of Bitcoin, creating a seamless bridge between networks.

With the debut of the Education Launchpad and the introduction of TUNO, starting December 28th at 12 UTC, participants can now engage by staking between 20,000 to 200,000 $HOOK tokens for 30 days in the launch pool to earn $TUNO shares for free, staking 20,000 $HOOK can yield 1 Reward Share, equivalent to 10,000 $TUNO. This integration of theoretical learning with practical experience, along with thoughtfully designed incentives, allows users to stake $HOOK tokens without additional costs, earning rewards proportionate to their stake, which not only benefits the Hooked community directly but also reflects its commitment to an impactful educational approach.

With the initial unveiling of TUNO, Hooked showcases its pioneering role within the BRC20 projects and Bitcoin ecosystems, highlighting its proactive approach to exploring industry trends and providing users with enticing opportunities in pioneering projects and ecosystems. As Hooked Protocol introduces HOOKED 2.0, its commitment to reshaping Web3 education becomes even more resolute, remaining steadfast in its dedication to innovative Web3 education and the continuous empowerment of perpetual growth for everyone.

About Hooked Protocol

Hooked Protocol is the world’s 1st Web3 social learning platform, transforming over 10,000,000+ users. Our vision is to create an immersive open educational network for billions of people, to educate and engage the global community in embracing Web3, and master Web3 for perpetual growth.

At Hooked, we aim to achieve on-chain education success by building an AI-driven Web3 social learning metaverse, where people engage in learning, socialise with networks, and enjoy web3 success in the connectivity of systems of both virtual economy and real-world assets. Join us at Hooked Protocol, where the future of education meets the potential of Web3.

Revolutionizing AI: ALAYA AI’s Sustainable Community Business Ecosystem 10892

ALAYA AI, a pioneer in distributed artificial intelligence data platforms, is proud to announce the launch of its innovative platform that seamlessly integrates data collection, annotation and social commerce.

ALAYA AI aims to meet the evolving needs and segment trajectories of the artificial intelligence industry, providing unique solutions that not only foster a sustainable economic system but also prioritize user privacy, ownership protection, and the creation of high-quality, scalable data for maximum Develop a user knowledge payment system in an all-round way and contribute to the social sharing economy.

Connecting Communities and AI through Social Commerce:

ALAYA AI aims to bridge the gap between communities, data, and artificial intelligence, revolutionizing the way we approach data-driven technologies. The platform’s Social Commerce feature facilitates the creation of a vibrant ecosystem where users can contribute valuable data while enjoying full protection of their ownership and privacy.

Fun and Rewarding User Experience:

One of ALAYA AI’s standout features is its engaging quiz, designed to enhance users’ knowledge while providing them with digital asset rewards. Users equipped with Alaya AI NFTs can actively participate in ecological tasks, becoming essential AI data sources and unlocking platform incentives.

Secure Digital Asset Trading with Blockchain and AI:

ALAYA AI introduces a cutting-edge marketplace where users can securely and efficiently trade unique NFTs. The integration of blockchain and AI ensures a transparent and trustworthy trading environment, opening up new possibilities for digital asset enthusiasts.

Provide users with a comprehensive user manual:

ALAYA AI prioritizes user experience with a comprehensive user manual. From registering to taking quizzes, completing data tasks, and browsing the market, the platform strives to provide the simplest, most direct, and smoothest user experience for all users. You can directly participate in the era of AI evolution and personal knowledge charging without complicated application and review processes.

Key Features for Sustainable Growth:

  • Sustainable Economic System: ALAYA AI empowers users to earn revenue through various avenues, including answering questions, pledging, and trading NFTs, contributing to the platform’s long-term sustainability.
  • Group Intelligence: The platform’s assignment algorithms ensure fair and cost-effective job evaluation, fostering a collaborative and intelligent community.
  • Community Expansion: ALAYA AI brings together a diverse and creative user base, forming a tightly connected community of mass volunteers. This community-driven approach enhances user stickiness and radiates influence outward to the general public.
  • Tiny Data Approach: Recognizing the limitations of traditional big data approaches, ALAYA AI emphasizes the importance of “tiny” data, focusing on high-quality data needed for generating business insights and automating decisions.

Current Product Stage and DAU

Alaya AI launched products 1.0 and 2.0 in June and August respectively in 2023, and deployed them on Arbitrum. It currently ranks among the top 15 in terms of activity on the chain, and ranks among the top 3 among projects that have not yet issued tokens.

At present, the main users cover East Asia, India, Southeast Asia and other regions, with registered users reaching 400K+. Currently, there are 15K daily users and at least 1500 on-chain interactions per day.

Countless users can get rewards of ETH and AIA tokens in the product every day

Alaya AI participated in Binance’s Blockchain Week in Turkey on November 8, 2023, and was honored to be the official after party sponsor of Binance Blockchain Week

Future Plan

In the near future, Alaya AI will be deployed on BNB Chain and Optimism to further expand the product user ecosystem.

About ALAYA AI:

ALAYA AI is at the forefront of reshaping the landscape of AI data platforms. By seamlessly integrating social commerce, engaging quizzes, and secure digital asset trading, ALAYA AI empowers users to contribute to the growth of a sustainable data ecosystem. The platform’s commitment to privacy, ownership protection, and high-quality data positions it as a leader in the AI industry

For more about ALAYA, kindly refer to
Website: https://www.aialaya.io/
Twitter: https://twitter.com/Alaya_AI
Telegram: https://t.me/Alaya_AI
Medium: https://medium.com/@alaya-ai
Deck: https://docsend.com/view/tvrctaq5hyen5max

Compass UOL offers financial institutions new Gen AI solutions with AWS Financial Services Competency 10935

Digital services company Compass UOL announced today it achieved the AWS Financial Services Competency and is offering its Gen AI tools to financial services institutions (FSIs) to speed up the evolution of their business on the cloud.

Out of the limited number of companies capable of addressing AWS use cases in the financial services sector, Compass UOL stands out as the sole provider offering its proprietary Gen AI software engineering suite to expedite software development.

Financial institutions can also apply AI to new business use cases, like onboarding for physical and business accounts using ChatGPT-like bots and robotic process automation (RPA), risk and fraud analysis with AI on new data models, and FSI-specific business analytics, among others.

“There is a window of opportunity for U.S. financial institutions to jump ahead of competitors and give new customers what they need online,” said Compass UOL CEO Alexis Rockenbach.

There are four areas where software can help financial institutions compete for new customers:

  • Payments: Instant payments, FedNow, faster payment services and integration, digital currencies, and digital wallets.
  • Digital Banking: Digital banking products, cloud migration, dynamic legacy path, edge open banking, and automated mainframe migration.
  • Real Time FSI: Data driven FSI, advanced analytic fraud detection, real time decision making, and real time credit and risk solutions.
  • Banking and Capital Markets: Wealth and asset management, credit and lending management, and investment management.

“Compass UOL is already helping financial institutions profit from generative AI,” said Rockenbach, speaking of Compass UOL’s approach. “We believe they can help make more institutions find their own way to benefit from it,” he added.

To achieve the AWS Financial Services Competency, Compass UOL presented a set of customer success cases which confirmed its ability to help its partners and customers stand out in a competitive landscape. Some of the cases involved complete solutions implemented using Gen AI to deliver strategic gains through a specialized financial services methodology empowered by AWS Data-Driven Everything (D2E) practice.

Compass UOL’s technology talent training program, Compass Academy, was also key for obtaining the AWS Financial Solutions Competency. The training focused on blockchain, Open Finance, and Data & Analytics, among other courses, preparing professionals to accelerate software engineering in the financial services industry.

A report published by the American Bankers Association said that financial institutions spent over $80 billion in technology in 2022, much of which went to keep their old systems working.

According to data from the Federal Deposit Insurance Corporation (FDIC), financial institutions with less than $250 billion in assets held 45% of deposits in 2022, compared to 52% in 2012 and 78% in 2002, when there were twice as many banks.

In contrast, FDIC data shows that only 13 giant banks held $10.5 trillion in deposits last year, or 55% of the total, increasing the risk that problems at a single institution could affect more people.

About Compass UOL

Compass UOL is a global company that drives Enterprise transformation through Artificial Intelligence and Digital Technologies. We design and build digital native platforms using cutting-edge technologies to help companies innovate, transform their businesses, and thrive in their industries. We cultivate the best talent, creating opportunities to improve people’s lives and focusing on how disruptive technologies can positively impact society.