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COTI, STASIS integrate Chainlink to bridge CeFi-DeFi

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Bridging the gap between traditional finance and DeFi protocols seems to be the need of the hour, and Chainlink’s recent integrations seem to be facilitating just that.

Blockchain-powered Fintech company COTI recently launched a new Crypto Volatility Index (CVI) for DeFi, one that enables traders to profit from market volatility. The company is in the news again after it announced the integration of Chainlink oracles to the Index in order to decentralize how it is calculated, as well as to make the CVI available across other platforms.

According to COTI, this “helps CVI realize its ultimate vision of being a decentralized, stable, transparent, informative, and replicable benchmark for cryptocurrency volatility information.”

CVI, which is also referred to as the “Market Fear Index,” is designed to determine the market’s expectations of future volatility over the next 30 days.

The development was also applauded by Johann Eid, Chainlink Product Manager, who commented,

“Bringing an important and unique data set like CVI to the DeFi ecosystem helps facilitate novel DeFi products, further maturing the market and enhancing its ability to compete with traditional finance.”

To this effect, stablecoin platform STASIS, which issues Euro-backed digital assets, has also integrated Chainlink in order to provide automated on-demand audits directly on-chain regarding the reserves backing its flagship product, the EURS stablecoin.

A recent announcement from the company revealed that the Chainlink Proof of Reserve oracle would be used to consistently check the off-chain fiat reserve balances and on-chain token supply of the STASIS EURS every ten minutes. In a statement made alongside news of the integration, Gregory Klumov, CEO and Founder of STASIS said,

“This advancement will have a positive impact on stablecoin use cases, ultimately driving global acceptance of the DeFi field even further.”

Source: https://ambcrypto.com/coti-stasis-integrate-chainlink-to-bridge-cefi-defi/

Amb Crypto

Miami Mayor dismisses Treasury Secretary Yellen’s criticism of Bitcoin

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Over the past few weeks and months, Miami and Mayor Francis Suarez have been working towards positioning the city as the country’s premier crypto-hub. “We want to be one of the most crypto-forward and technological cities in the country,” Suarez had said in a recent interview, with the comments coming on the back of reports […] Source: https://ambcrypto.com/miami-mayor-dismisses-treasury-secretary-yellens-criticism-of-bitcoin/

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FD7 Ventures launches $250M Micro-Fund in India for Cardano, Polkadot-based projects

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A few days after FD7 Ventures, a Dubai-based crypto-investment fund, made news after it announced its decision to sell its Bitcoin holdings worth $750M to buy more Cardano and Polkadot, the fund is in the headlines again. According to a press release, FD7 Ventures has now launched a $250M Micro-Fund in India to invest in […] Source: https://ambcrypto.com/fd7-ventures-launches-250m-micro-fund-in-india-for-cardano-polkadot-based-projects/

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Why Mark Cuban is looking forward to Ethereum’s use cases

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Entrepreneur Mark Cuban is in awe of Ethereum network and thinks that blockchain technology could be a game-changer for various industries. In a recent interview, Cuban said that it is the “simplification of smart contracts” on Ethereum that gets him “excited.” He said: Because now, all these SaaS companies, all these different companies, I could […] Source: https://ambcrypto.com/why-mark-cuban-is-looking-forward-to-ethereums-use-cases/

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Amb Crypto

Litecoin, EOS, Enjin Coin Price Analysis: 01 March

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Litecoin seemed positioned for additional losses after the long-term moving average closed in on the short-term line. EOS moved within a descending channel after finding support at $3.5. Lastly, ENJ went past a key resistance and saw its price rise on the charts. Litecoin [LTC] Losses in the last seven days amounted to over 25% […] Source: https://ambcrypto.com/litecoin-eos-ftx-token-price-analysis-01-march/

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