CRYPTO NEWS: Latest BITCOIN News, IOTA News, CARDANO News, DEFI News
SingularityNET has announced plans to move a significant portion of its network from Ethereum to the IOHK-managed Cardano blockchain due to upcoming Cardano updates that include the Plutus smart contract framework.
Announced Wednesday, the cross-border initiative opens up major Japanese bitcoin markets for European traders looking for a bitcoin / Japanese yen trading pair.
Wootrade, a Taiwanese liquidity and crypto-asset exchange platform targeting institutions, has completed a $ 10 million private investment round led by Dragonfly Capital.
The US Securities and Exchange Commission announced that SALT Blockchain, the company behind the cryptocurrency-enabled SALT Lending loan service, is due to reimburse customers who purchased its SALT tokens during the initial coin offering in 2017.
This week, the Australian government released its $ 574 million digital business plan, which includes seven-figure grants for distributed ledger technology initiatives.
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- Zapper vs. Zerion: Comparing the Top DeFi Aggregators for Crypto Investors
- Cryptocurrency Stock News: HIVE Blockchain (TSXV: HIVE) Reports Record Ethereum Mining Production Driven by DeFi Demand
- Crypto exchange Bitmex founders charged by DOJ
- Institutional Crypto Platform Talos Emerges From Stealth Mode – CoinDesk
Zapper vs. Zerion: Comparing the Top DeFi Aggregators for Crypto Investors
Despite recent controversies, Internet companies have made exploring cyberspace a breeze. Instead of interacting with pure code or clunky protocols, companies like Google make it easier for users to connect.
Dashboards and other UX-enhancing products play this same role for the fledgling DeFi ecosystem. The two leaders in this field are Zapper and Zerion.
Zapper is a favorite amongst the DeFi community, specifically liquidity providers (LPs). It provides a seamless interface to interact with DeFi protocols. Zapper platforms DeFi by bringing various protocols to a single user-facing product. Anybody can interact with Uniswap, Curve, Balancer, and yEarn using Zapper.
After you connect your Web3 wallet, the homepage will load an overview of your portfolio split into various categories like wallet (holdings), yield farming positions, liquidity provision, and borrowings. Zapper has become renowned for its dashboard, enabling users to gauge the value of their portfolios instantly.
Zapper’s prized feature is its “invest” option to deposit money in the top liquidity pools and yEarn vaults. This function supports top DEXes like Uniswap, Balancer, and Curve.
The platform has an exchange tab that connects to Uniswap and Balancer, tapping into the two automated market makers (AMMs) to create a simple liquidity aggregator. Users are guaranteed the best price between the two DEXes. Unlike aggregators like 1inch Exchange, Zapper doesn’t split the trade between multiple DEXes.
Finally, Zapper has “explore” and “transactions” pages. The explore function lets users with funds on asset management platforms like Set Protocol, yEarn Finance, and Synthetix take a deeper look into their performance. The transaction tabs gather the address’ transaction history.
For the moment, Zapper’s sole focus is on liquidity provision and yield farming. Integrations with other DeFi verticals are expected soon.
But Zapper is by far the easiest way to interact with liquidity pools, automating the split of capital between the pool assets. For example:
From the above example, it’s clear that Zapper’s automation makes it very simple to provide liquidity. Users no longer have to go through the burden of converting their tokens to the necessary split to become an LP. Zapper does it for them.
On the exchange front, Zapper isn’t a DEX aggregator, so it doesn’t split trades between various venues. But it’s still a huge benefit for smaller traders.
By aggregating Uniswap and Balancer markets – the most liquid DEXes – Zapper finds the best trade amongst these two and presents it to users. Since the trade isn’t split, transaction fees are the same as interacting with Uniswap or Balancer directly.
The platform’s biggest boon is also a bane – a lack of support for some of DeFi’s largest markets. Three of the top six (Aave, Maker, Compound) DeFi protocols by liquidity are in the business of borrowing and lending.
Zapper is yet to tap into this market, thus limiting the activities its user can do.
Zapper is a great product for DEX LPs. An integration with yEarn vaults marks the platform’s foray into tokenized asset management. Set Protocol strategies still aren’t accessible from the platform, however.
In July 2020, Zapper noted that protocols like Aave and Compound would be integrated soon. It’s now October, and this is yet to happen.
Official co-founders include Seb Audet, Suhail Gangji, and Nodar Janashia. Each of them has a strong background in UX design, crypto development, and financial management, respectively.
Before forming Zapper, Audet helped build DeFi Snap, a dashboard that allowed users to view their DeFi activity on one simple interface.
Gangji and Janashia worked together to found DeFi Zap, a similar product that allows users to create bundled transactions to interact with multiple smart contracts simultaneously.
After answering a few questions to assess users’ investment profile, DeFi Zap would suggest a few “zaps” that users could use to express their crypto sentiment.
Zerion is one of the top DeFi tools that individuals can leverage to simplify their trading experience. Instead of individually visiting Compound, Uniswap, and other yield farms, DeFi investors can indirectly interact with these protocols through Zerion.
The first step is to connect one’s address to Zerion on the homepage. Users can connect multiple addresses for a simple, aggregated view of their “DeFi net worth.” Once that’s done, an overview of the wallet’s portfolio will show up, neatly split into various categories like savings and loans.
A portfolio’s top gainers and losers will show up on the overview too, enabling investors to track the performance of their overall portfolio and individual investments on the homepage.
EtherScan is the preferred tool for most DeFi investors to track their transactions, but Zerion makes glimpsing into an address’ previous actions much easier. The history page shows users an in-depth and graphical representation of each of their transactions. Instead of visiting EtherScan and opening a new link to view each transaction’s details, Zerion pulls up a detailed history on a single, scrollable page.
Zerion’s value for users, however, isn’t in the dashboard for assets and transactions. Using it as an interface for DeFi helps abstract a ton of complexity.
On the market page, users can purchase just about any Ethereum-based asset using ETH or stablecoins like USDC, DAI, USDT, or TUSD. Each asset on the market tab has brief information regarding its project and some simple financial data like price changes, market cap, and the asset’s all-time high.
For those seeking a bit more flexibility on the token side, Zerion gives users the option of a direct exchange interface to exchange any token for another. Notably, this only serves vanilla ERC-20 tokens and ETH.
Using the market tab reduces the variety of tokens one can pay with, but users will soon be able to buy into Set Protocol and Melon’s tokenized asset management strategies.
Zerion also serves liquidity pools and yield farmers. Platforms include Balancer Labs, Curve, yEarn Finance, Bancor, and Uniswap. They will soon add support for Mooniswap too.
Finally, Zerion offers access to lending markets on Compound and borrowing markets on Compound and Maker. To summarize, Zerion integrates the most vital parts of DeFi and is currently in the process of adding more value add features, like mStable’s savings scheme and staking for Nexus Mutual, Curve, Matic, and others.
Tracking the newest products and improvements in DeFi is a full-time job. Unless one is a dedicated power user, it’s impossible to stay on top of everything. This is where aggregators like Zerion come in.
Plan on collateralizing some of your ETH for a USDT loan on Compound, then depositing ETH and USDT in a Uniswap pool to farm UNI? Just use Zerion.
Instead of visiting multiple interfaces and executing a series of transactions, investors can do it all from a single interface.
Zerion is adding new features that can turn it into a useful product even for DeFi’s power users. Staking NXM on Nexus Mutual or accessing vested BZRX tokens on bZx are just a few new features coming to the platform.
The dashboard is clean and intuitive, making it less confusing to use and track one’s history with DeFi protocols.
Zapper’s approach is to focus on a single niche and really buckle down on it. Zerion expanded its offering across multiple verticals but still doesn’t support every protocol in those verticals.
On the lending and borrowing side, Zerion has support for Compound and Maker, but, once again, omits Aave – the largest money market protocol in DeFi.
Zapper has become an integral tool for active LPs thanks to its comprehensive integrations and product development approach.
In 2016, Zerion’s three co-founders formed the company to create a simple solution to track and manage ERC-20 tokens. Since then, the vision evolved into becoming a one-stop-shop for interacting with DeFi products.
Vadim Koleoshkin is the business-minded co-founder of Zerion. He previously founded Jufy Projects, a consulting firm, and app development studio.
Evgeny Yurtaev is a co-founder of Zerion, who previously worked as a software engineer at Google and Jufy Projects. Yurtaev has extensive experience dealing with blockchains, namely, Ethereum.
Alexey Bashlykov is the third co-founder and CTO of Zerion. He’s an android developer, working alongside his co-founders at Jufy Projects.
The argument is nuanced and depends on each individual’s needs. Those looking for a product with widespread integrations for liquidity pooling and yield farming would be pleased with Zapper over Zerion. On the other hand, more active and diversified users who also want access to lending and borrowing would prefer Zerion.
Zapper has a clear edge for LPs. For example, providing liquidity to a Uniswap pool can be done using just ETH on Zapper, slimming the process from two steps to one.
One can choose to utilize an unrelated asset, like LINK, and Zapper will convert the asset to half ETH and half DAI to deposit into the Uniswap pool.
On Zerion, however, the user needs to manually sell half their ETH for DAI first and add the two assets in the correct proportions. Thus, Zerion’s only advantage over adding liquidity on Uniswap’s native interface is that it also connects to other protocols.
Zapper recreates this same benefit on its integration with other protocols. One can invest in any yEarn vaults using a variety of assets. Zapper first converts the token to its necessary form (USDC for yUSDC vault or YFI for the yYFI vault) and then makes the deposit.
While Zerion plans to integrate more protocols, the platform currently only offers yield farming integrations for Uniswap and Bancor.
Zerion’s dashboard is cleaner than Zapper’s when viewing an address’ transaction history. But Zapper once again comes out on top in terms of the depth of information available.
For instance, SNX stakers can view in-depth information using both Zerion and Zapper. But Zapper offers a few more data points, such as exchange fees available to claim from Synthetix. And in this particular respect, Zapper also has a better outlay.
To Zerion’s credit, it has taken a broader approach to product development and is becoming a jack of all trades rather than a master of one. In the future, it seems reasonable to expect Zerion to whip up faster integrations and eventually become a comprehensive hub for interacting with DeFi.
Both Zerion and Zapper are phenomenal products that will aid DeFi adoption through superior UX. Currently, the choice between the two is solely dependent on a user’s specific needs.
For active LPs, Zapper has a very obvious edge. But for those looking to dabble with DeFi and test all its moving parts, Zerion is the perfect partner.
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Cryptocurrency Stock News: HIVE Blockchain (TSXV: HIVE) Reports Record Ethereum Mining Production Driven by DeFi Demand
Vancouver, Canada – October 1, 2020 (Investorideas.com Newswire) HIVE Blockchain Technologies Ltd. (TSX.V:HIVE) (OTCQX:HVBTF) (FSE:HBF) (the “Company” or “HIVE”) announces that it has achieved a record amount of Ethereum production in the current quarter driven by the continued strong usage of the blockchain network, notably for decentralized finance (“DeFi”) applications, and the positive impact this has had for industrial scale Ethereum miners such as HIVE. The Company also provided an update on the date of its financial statements and related filings for its first quarter ended June 30, 2020 of its fiscal year.
Ethereum Mining Update
HIVE has thus far mined more than 32,000 Ethereum (and 121,000 Ethereum Classic) in the quarter from July 1 to September 30, 2020, based on the Company’s preliminary unaudited results. This represents a significant sequential increase from the approximately 25,000 Ethereum mined in HIVE’s first fiscal quarter ended June 30, 2020, and a more than 50% increase compared to the same period last year.
The increase has been driven by the massive demand for transactions on Ethereum, including by stablecoins and DeFi applications, which have resulted in record highs in Ethereum transaction fees paid to miners. Many investors are using smart contracts to perform DeFi actions such as staking, pooling, and lending and such investors have been paying higher costs to make sure their transactions go through.
Ether Coins Mined by HIVE Blockchain Technologies
HIVE has also significantly increased its cash flows from Ethereum mining in the current quarter driven by the combination of: its increased Ethereum production; the significant rise in the price of Ethereum; and, as reported by the Company previously, the significantly lower operating and maintenance costs achieved at the Company’s Ethereum mining facilities in Europe due to management’s decision to assume direct control of the Company’s mining operations over the past 18 months from its former strategic partner. Based on its operating and maintenance costs, the Company’s current cost to mine Ethereum is approximately US$150, while the average price of Ethereum in the quarter ended September 30, 2020 has been US$343.
The Company has been utilizing such cash flows to upgrade and expand its Ethereum mining equipment and support the scaling up of its recently acquired Bitcoin mining operation in Canada.
Financial Statements Update
As previously announced, due to circumstances created by the COVID-19 global pandemic, the Company is relying on the 45-day extension period for the filing of its financial statements and related materials provided to issuers by Canadian regulators, as enacted in Instrument 51-517 – Temporary Exemption from Certain Corporate Finance Requirements with Deadlines during the Period from June 2 to August 31, 2020 by the British Columbia Securities Commission (“BCSC”) (“BC Instrument 51-517”).
As required by BC Instrument 51-517, the Company discloses the following:
The Company now expects to file its financial statements and related management discussion and analysis for its first quarter ended June 30, 2020 of its fiscal year on or before October 15, 2020, as opposed to October 13 as the Company previously announced.
In the interim, the Company’s management and other insiders are subject to a trading black-out policy that reflects the principles in Section 9 of National Policy 11-207 – Failure-to-File Cease Trade Orders.
The Company confirms that since the filing of its financial statements and related management discussion and analysis for the period ended March 31, 2020, there have been no material business developments other than those disclosed through news releases.
About HIVE Blockchain Technologies Ltd.
HIVE Blockchain Technologies Ltd. is a growth oriented, TSX.V-listed company building a bridge from the blockchain sector to traditional capital markets. HIVE owns state-of-the-art green energy-powered data centre facilities in Canada, Sweden, and Iceland which produce newly minted digital currencies like Bitcoin and Ethereum continuously on the cloud. Our deployments provide shareholders with exposure to the operating margins of digital currency mining as well as a portfolio of crypto-coins.
For more information and to register to HIVE’s mailing list, please visit www.HIVEblockchain.com. Follow @HIVEblockchain on Twitter and subscribe to HIVE’s YouTube channel.
On Behalf Of HIVE Blockchain Technologies Ltd.
Interim Executive Chairman
Tel: (604) 664-1078
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Except for the statements of historical fact, this news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. “Forward-looking information” in this news release includes information about potential further improvements to profitability and efficiency across mining operations, filing of the Company’s financial statements and related management discussion and analysis for the first quarter of its fiscal year ended June 30, 2020, potential for the Company’s long-term growth, and the business goals and objectives of the Company.
Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, a decrease in Ethereum pricing, volume of transaction activity or generally, the profitability of Ethereum mining; further improvements to profitability and efficiency may not be realized; the Company may not file its financial statements and related management discussion and analysis for the first quarter of its fiscal year ended June 30, 2020 within the timeframe currently anticipated; the digital currency market; the Company’s ability to successfully mine digital currency; the Company may not be able to profitably liquidate its current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on the Company’s operations; the volatility of digital currency prices; and other related risks as more fully set out in the Filing Statement of the Company dated and other documents disclosed under the Company’s filings at www.sedar.com.
The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the current profitability in mining Ethereum (including pricing and volume of current transaction activity); the Company’s ability to prepare and file its financial statements and related management discussion and analysis for the first quarter of its fiscal year ended June 30, 2020; profitable use of the Company’s assets going forward; the Company’s ability to profitably liquidate its digital currency inventory as required; historical prices of digital currencies and the ability of the Company to mine digital currencies will be consistent with historical prices; and there will be no regulation or law that will prevent the Company from operating its business. The Company has also assumed that no significant events occur outside of the Company’s normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
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Crypto exchange Bitmex founders charged by DOJ
Four executives were charged under the bank secrecy act for failing to implement money laundering protocols. BitMEX is one of the largest crypto exchanges.
The news is weighing modestly on Bitcoin.
Institutional Crypto Platform Talos Emerges From Stealth Mode – CoinDesk
In the latest effort to smooth a path for buttoned-up investors, Talos, an institutional-grade conduit to the crypto ecosystem, is emerging from stealth mode to serve brokers, custodians, exchanges and over-the-counter (OTC) trading desks.
The platform started out in 2018 and is backed by an impressive list of investors including Autonomous Partners, Castle Island Ventures, Coinbase Ventures and Initialized Capital.
Over the past year or so, Talos has been quietly onboarding a core group of capital market participants, so that the platform can make its debut in a revenue-generating state, said Anton Katz, the firm’s co-founder and CEO.
“It’s not that we were really hiding, but it’s just that we come from a capital markets background and would tend to shy away from talking about things before they are ready; when you’re selling to institutions that can be frowned upon,” Katz said in an interview. “Now I think we have reached a good point, working with a good set of customers and the platform is in a more mature state.”
Talos provides tools to support clients through the full trading lifecycle, from price discovery through to clearing and settlement, the company said.
“One of the biggest keys to widespread institutional adoption of digital assets is a technology infrastructure that unites all market participants and gives them the confidence to operate at scale,” Arianna Simpson, founder of Autonomous Partners, said in a statement. “That is exactly what Talos has built, and we are excited to help them realize their ambitious launch and growth plans.”
The last couple of years have seen much talk about an institutional herd moving imminently into crypto; how has this landscape changed in that time and have these expectations been met?
“I think it’s important to keep in mind that the institutional sector does not have an on/off switch,” said Katz. “It’s not like they’re either in or out. There are really a couple of different groups of institutions, some of them are a little bit more risk-averse, some of them less, and what we are seeing right now are less risk-averse players becoming the early adopters.”
The design requirements for crypto platforms are quite different from regular capital markets, Katz explained. On the pre-trade side of things, when compared to capital markets, the data being collected for crypto is a lot less reliable and has to be collected in multiple places and cleaned properly.
In terms of trading there are things like a treasury management aspect, so moving capital between different exchanges, which again is something that doesn’t really exist in capital markets. While on the post-trade side, capital markets are much more secure and standardized.
“I would say you don’t have to be as defensive when you’re building your platforms in capital markets as you do in crypto,” said Katz. “The precision that you need with every single trade, it calls for completely different system design.”