Coinbase to Launch Apple-Like Crypto App Store

Coinbase to Launch Apple-Like Crypto App StoreCryptocurrency exchange Coinbase has unveiled its plan to build “the crypto app store,” inspired by how Apple Inc. built its app store. CEO Brian Armstrong said: “Apple didn’t attempt to build every app for the iPhone, it empowered developers and gave mobile users an easy way to access new innovative apps.” In a blog post […]
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xSigma Announces Its ETF-Like Decentralized Fund and Platform

xSigma Announces Its ETF-Like Decentralized Fund and PlatformPRESS RELEASE. ZK International Group Co., Ltd. (Nasdaq: ZKIN) (“ZKIN“, “ZK International” or the “Company”), a designer, engineer, manufacturer, and supplier of patented high-performance stainless steel and carbon steel pipe products primarily used for water and gas supplies, is pleased to announce its ETF-like decentralized fund and platform, which is the second DeFi project in […]
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Elastic Finance makes its case in the DeFi discussion

Is this new DeFi trend here to stay?

The DeFi frenzy has been making the headlines in the last few months, as crypto exchanges rush to list popular tokens within the decentralized finance sphere. However, another concept called “Elastic Finance” has emerged, which could be the next generation of financial platforms that can use unique supply elastic assets, said an expert.

During an interview with Cointelegraph, digital asset protocol firm Ampleforth Foundation CEO Evan Kuo said that Elastic Finance began with its own token, AMPL, a rules-based elastic digital currency that automatically translates price volatility into supply volatility.

He said elastic finance represents the category of assets featuring AMPL’s rebasing function, and the ecosystem of platforms that support elastic tokens. Kuo pointed out which problems elastic finance and AMPL address to solve within the current DeFi environment:

“This operationalizes, in a way, the long-standing thesis by Nobel laureate James M. Buchanan that rule-bound “predictability”—–as opposed to human discretion—–might allow for more effective financial institutions. Further analysis had led us to hypothesize that these rule-bound supply changes might lower the correlation of the AMPL market capitalization with those of BTC and ETH.”

Kuo believes that nowadays, assets based on the concept of elastic finance could “reduce risk of auto liquidation in systems that utilize baskets of collateral assets,” and can be used for debt contract denomination.

Features that could be highlighted from elastic finance assets include being non-collateralized, having a non-fixed supply, a price target, and an automatic supply rebasing.

Recently, Ampleforth Foundation released a roadmap that gives a sneak peek on the future of Elastic Finance assets, which include offering price-stability by varying unit of account, a more-fair distribution of any asset, and unlocking new tooling opportunities throughout the entire ecosystem for use and integration with any elastic asset.

As per the near-term plans after releasing its paper that highlights the elastic assets’ characteristics and having launched an AMPL-LEND pool on Mooniswap on Sept. 1, Kuo told Cointelegraph:

“We will be developing special-purpose AMM’s that natively support and take advantage of supply elasticity, special-purpose lending platforms that natively support and take advantage of supply elastic assets. Also, we’ll actively support other platform developers that natively support elastic assets and doing this cross-chain.”

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NEAR Token Sale Postponed After CoinList Is Overwhelmed by Demand

The final token sale for NEAR Protocol was postponed after CoinList exchange was overwhelmed by traffic.

The highly anticipated tokensale for decentralized application (DApp) platform NEAR Protocol was postponed by 24 hours after CoinList — the exchange hosting the offering — went down around the scheduled launch time.

Originally scheduled for 10 am ET on Aug. 11, the tokensale was postponed by 24 hours after CoinList was deluged by expectant traders. Its Twitter account received a flood of complaints from trader’s who had planned on participating in the offering.

Disgruntled buyers compared the debacle to similar outages experienced during the platform’s first token sales conducted during 2017. However, despite large numbers complaining they were unable to access the platform, screenshots posted on WeChat suggest that some participants successfully invested in NEAR. 

The token sale is now slated to commence on Aug. 12 at 10 am ET, and will comprise the final NEAR offering prior to its mainnet going live.

Participants can choose to invest in three different tranches of tokens — with the first option offering tokens with a 40-day holding period for $0.40 each, alongside batches of coins scheduled for a linear release over 12-months or 24-months from the mainnet’s launch priced at $0.34 and $0.29 respectively.

The first tranche is capped at 25 million tokens, with the overall sale limited to 100 million tokens in total. It is open to accredited investors outside of the United States, China, Belarus, Cuba, Congo, Iran, Liberia, Myanmar, Sudan, Syria, and Zimbabwe.

The NEAR token sale’s false start follows an otherwise strong year for CoinList offerings.

In May, CLabs raised $10 million toward the development of its blockchain network Celo in a dutch auction that sold out within 12 hours. The offering saw participation from 509 investors based in 62 countries. In March, Solana’s $1.76 million dutch auction also sold out on CoinList.

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US Regulator Zeroes in on Binance Chain as SEC Awards Monitoring Contract to Ciphertrace

US Regulator Zeroes in on Binance Chain as SEC Awards Monitoring Contract to CiphertraceThe U.S. Securities and Exchange Commission (SEC) intends to award a fixed-price contract on a single source basis to Ciphertrace. The SEC is awarding the contract to the blockchain monitoring company as it plans focus on BNB coin, as well as other tokens on the Binance’s DEX. The BNB token has multiple forms of utility […]

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