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ACN Newswire

Duet Protocol closes first-round funding at US$3 million

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SINGAPORE, May 12, 2021 – (ACN Newswire) – On 9th May 2021, Duet Protocol announced the closure of US$3 million in the first round of investment.

Duet identifies itself as the world’s first multi-chain synthetic asset protocol with a hybrid mechanism of over-collateralization and algorithm stabilization.

The first-round investment was led by OmniLAB, DraperDragon, Everest Ventures Group, One Block Capital, Moonwhale Ventures, Dutch Crypto Investors, LD Capital, Zonff Partners, Cabin VC, ArkStream Capital, individual investors include cofounder of BIT Digital Inc (NASDAQ: BTBT) and the partners of A&T Capital.

OmniLAB is the investment fund that backed the world’s first stablecoin (on OmniLayer) circulation specification for Lightning Network. DraperDragon Innovation Fund is a core member of Draper Venture Network and mainly focuses on investing in US-China cross-border startups.

The second round of investment and regional partners around the globe will be announced by Duet in the coming days.

Synthetic assets paradigm path selection

The Crypto market is a high-speed self-evolving dynamic ecosystem in which DeFi is pioneering massive adoption and mechanism innovation. “Duet is bridging the gap between real-world assets and crypto markets and we are convinced that synthetic assets are the optimal approach to connect these two worlds,” J.Bach, one of the core founding members of Duet protocol quoted.

Duet synthetic assets are targeting the stock market. Compared with the current alternatives, Duet claims to deliver a unique design to optimize minting and trading.

1. Openness and user-friendly: Compared to Binance or FTX CM equity methods, on-chain synthetic assets minting on Duet are easier and friendly for investors, having no entry barriers, procedures cost, or single spot risk.

2. Multiple collateral positions: Synthetix and Linear protocols adopt the single asset deposit with sharing debt method. Whereas, Duet chooses multiple collaterals with separated CDPs, which reduce minters’ risk and raises scalability.

3. Assets diversity and compatibility: Compared with MakerDAO’s DAI and Mirror’s UST, Duet accepts various types of synthetic assets and embraces wider ecosystems, and supports Ethereum, BSC, and other EVM compatible blockchains.

4. Compatibility: Duet provides transferable dAssets which could be leveraged in other DeFi protocols, compared with a perpetual-ish protocol which only supports long or short positions.

Establishing a financial world governed by DAO

The vision of Duet Protocol is to build an on-chain parallel space, with global partners and contributors, governed by DAO that enables the on-off ramp of Flat Assets (Traditional Assets) and Sharp Assets (Crypto Assets).

According to J.Bach, “Duet’s innovative dual synthesis model can greatly improve the capital efficiency of user’s funds. With Duet, the global investors would be able to create and allocate capital to any assets with only one digital wallet in a frictionless and user-friendly manner”.

Get the latest from Duet on Twitter @duetprotocol

Media Contact:
Nitesh, Duet Protocol
E : [email protected]
W: https://duet.finance
T : https://twitter.com/duetprotocol


Topic: Press release summary

Source: Duet Protocol

Sectors: FX & Digital Currencies


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From the Asia Corporate News Network

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ACN Newswire

PT Mitra Integrasi Informatika, Beijing Guoshi Technology Winners of Software AG’s 2020 PartnerConnect Partner Award

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SINGAPORE, June 17, 2021 – (ACN Newswire) – Software AG, a leader in IoT, integration, API Management and Business Transformation software, formally recognised two of the company’s APAC partners, PT Mitra Integrasi Informatika (Indonesia) and Beijing Guoshi Technology (China), in its 2020 PartnerConnect Partner Awards. The annual awards programme recognises outstanding partners that demonstrate innovative use of Software AG solutions, embody Software AG PartnerConnect values and excel in their ability to help customers succeed.

“Technology trends like integration, cloud, mobile and big data are continuing to change how partners connect with their customers,” said Jason Johns, General Manager, Global Alliances & Channels, Software AG. “Our annual Partner Awards recognise the Software AG partners that go above and beyond in their support of our mutual customers and that are committed to enabling continued transformation for their customers, as we all work to adapt to evolving trends. We’re proud to call these award winners our partners.”

PT Mitra Integrasi Informatika, the largest System Integration company in Indonesia, has been recognised as the APJ Partner of the Year for securing 6 new projects across Indonesia in 2020, putting the new age corporate customers front and centre. To date, PT Mitra Integrasi Informatika has around 150 webMethods developers, some of whom are certified developers.

“Software AG and PT Mitra Integrasi Informatika take pride in understanding different industry dynamics to deliver disruptive solutions that align with new age Enterprise & Corporate requirements. Combining Software AG’s technology integration capabilities and our collective client experience expertise, we are opening the door to new innovations while also accelerating the pace and impact of digital transformation across industries. This recognition from Software AG is a testament to the continued relevance of these solutions for organisations in Indonesia, and we look forward to further collaboration in the year ahead,” said Sjafril Effendi, President Director, PT Mitra Integrasi Informatika.

Recognised as the APJ Fastest Growing Partner of the Year, Beijing Guoshi Technology has been instrumental in expanding Software AG’s partner network, providing organisations in specialised industries such as Aerospace and Military with Software AG ARIS solutions. The Software AG ARIS reseller played an instrumental role in bringing onboard a total of 18 new partners across China in 2020.

“Technology will serve as an enabler for business growth as economies in Asia Pacific accelerate recovery efforts in 2021. With digital disruption sweeping across the region, we are honoured to partner with Software AG to deliver exceptional innovative solutions that support intelligent enterprises in the new normal. The award from Software AG will spur us on to greater heights in the coming year, reaffirming our continued commitment to the region’s digital-first organisations,” said Liu Xipeng, General Manager, Beijing Guoshi Technology.

To date, Software AG’s PartnerConnect partner program has allowed over 93 partners in Asia to spark innovative digital transformation initiatives and optimise their clients’ business operations through Software AG’s marketing-leading technology.

According to the Asian Development Bank, digital transformation can boost global output, trade and commerce, and employment. In Asia Pacific, the use of digital technologies can translate to the creation of 65 million new jobs on average yearly from 2021 to 2025. Digital technology adoption can also bring about an increase in regional trade by $1 trillion yearly over the next five years.

For more information about Software AG’s PartnerConnect partner program, please visit https://www.softwareag.com/en_corporate/resources/partners.html. To enroll in Software AG PartnerConnect, simply complete the application at softwareag.com/partners.

About Beijing Guoshi Technology

Established in Zhongguancun High Tech Park, Beijing Guoshi Technology Co., Ltd. is a professional enterprise project management solution provider in China, focusing on enterprise project management software product provision, management consulting and it system implementation and service. For more information, please visit http://www.ctsyun.com

About PT Mitra Integrasi Informatika

PT Mitra Integrasi Informatika (“MII”) was founded on 1 March 1996 as a subsidiary of the publicly listed PT Metrodata Electronics, Tbk (IDX: MTDL). Widely recognised for its consistency as Digital Solution Provider to both Enterprise and Corporate segments, MII’s service offerings range focus on Cloud Services; Business Application; Digital Business Platform; Big Data & Analytics; Security; Hybrid IT Infrastructure; Consulting & Advisory Services; and Managed Services. Based on industry best practices and ISO 9001:2015 and ISO/IEC 27001:2013 certified to give highest quality of service to customers, it has also built strategic alliances with a number of national, regional and global technology partners with Digital Transformation visions to strengthen its offerings. For more information, please visit www.mii.co.id

About Software AG

Software AG reimagines integration, sparks business transformation and enables fast innovation on the Internet of Things so you can pioneer differentiating business models. We give you the freedom to connect and integrate any technology – from app to edge. We help you free data from silos so it’s shareable, usable and powerful – enabling you to make the best decisions and unlock entirely new possibilities for growth. For more information, visit www.softwareag.com

Software AG Media Contact
Jane Chan
E: Jane.Chan@softwareag.com
T: +65-9150-3794

PRecious Communications for Software AG
E: softwareag@preciouscomms.com
T: +65-6303-0567


Topic: Press release summary
Source: Software AG

Sectors: Daily Finance, Cloud & Enterprise, CyberSecurity, Automation [IoT]
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ACN Newswire

Singapore’s Commodities Intelligence Centre Signs Investment Agreement to Establish Its Overseas Digital Trade Platform in Chongqing’s Guoyuan Port

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SINGAPORE, June 17, 2021 – (ACN Newswire) – Singapore-based Commodities Intelligence Centre (CIC) has signed an investment agreement with Chongqing Liangjiang New District Management Committee. The agreement will see an investment commitment of RMB 10 million (S$2.07 million) by CIC to establish its overseas digital trade platform in China’s Guoyuan Port in Chongqing Municipality. The agreement was formally inked by Mr Luo Lin, Deputy Secretary of the Party Working Committee and Director of the Management Committee of Chongqing Liangjiang New Area and Mr Peter Yu, Chief Executive Officer of CIC, at the “Chongqing Liangjiang New Area Key Technology Innovation Projects Virtual Signing Ceremony”. CIC’s parent company, ZALL Smart Commerce Group (2098.HK), also announced its plans to invest in Guoyuan Port for their projects in West China.

The project is expected to contribute towards the China-Singapore (Chongqing) Connectivity Initiative, and will be able to tap on CIC platform capabilities in Singapore to enable data interconnection and interoperability and grow a vibrant commodity trading ecosystem in Guoyuan Port. The move comes as CIC is stepping up efforts to expand its global supply chain network and provide companies with increased access to market opportunities in China and Southeast Asia, helping them uncover new business opportunities, reduce transaction costs and achieve greater trading synergies globally amid the pandemic.

Mr Peter Yu, Chief Executive Officer of CIC, shared, “The need to strengthen the digital connectivity of the world’s supply chain ecosystem is more important than ever today. CIC is proud to have inked this strategic agreement to establish our overseas digital trade platform in Chongqing, an important region that connects the Yangtze River Economic Belt and the Belt and Road route. This investment affirms our continued commitment to expand our technology-enabled global B2B trading ecosystem that would enable businesses to reap the benefits of the global digital trade economy on the back of the world’s largest trade pact, the Regional Comprehensive Economic Partnership (RCEP) and China’s dual circulation strategy, with greater digital trade connectivity between China and ASEAN.”

Leveraging the strategic connectivity advantages of the China-Singapore (Chongqing) Multimodal Transportation Demonstration Base, the new International Land-Sea Trade Corridor (ILSTC) and other international trade channels of the Chongqing Guoyuan Port National Logistics Hub, CIC’s digital trade platform would provide global trading services, such as transaction matching, customs declaration and clearance, supply chain logistics, trade finance, and global trade compliance to facilitate the development of an international commodities trading cluster in Guoyuan Port. The platform could also help accelerate the opening up of China’s inland economy and drive global commodity trading and investments into Chongqing, thereby bringing about deeper economic integration with China’s Belt and Road Initiative and the country’s western provinces and regions.

Located in the core part of Chongqing’s Liangjiang New Area, Guoyuan Port is a logistics hub integrating “water, rail, and road transport” of China’s inland rivers, and is the only port-type national logistics hub in west China. CIC’s project signing comes amid deeper Sino-Singapore cooperation under the China-Singapore (Chongqing) Connectivity Initiative, and increased investments by Singapore enterprises into Chongqing in sectors such as aviation, financial services, logistics and information and communication technology.

About Commodities Intelligence Centre

The Commodities Intelligence Centre (CIC) is a global trading platform for physical commodities including Ferrous & Non-Ferrous Metals, Chemicals & Plastics, Oil & Petroleum, and Agri Commodities. Officially launched in Singapore on 12 Oct 2018, CIC is a Joint Venture between China-based ZALL Smart Commerce Group, Global eTrade Services (GeTS) and Singapore Exchange (SGX) to build trade connectivity through digital marketplaces and to grow a vibrant trading ecosystem in Singapore.

CIC aims to revolutionize commodity trading and facilitate cross-border trade through deal matching, trade finance, supply chain logistics, track and trace and global trade compliance. Since its establishment in October 2018, CIC has achieved a GMV (Gross Merchandise Volume) of more than US$13.4 billion (S$17.6 billion), with over 5,800 registered users covering markets including Singapore, Malaysia, Indonesia, India, China, among other countries in Asia. For more information, please visit www.cic-tp.com

For media enquiries, please contact
Email: CIC@preciouscomms.com


Topic: Press release summary
Source: Commodities Intelligence Centre

Sectors: Transport & Logistics, Exchanges & Software, Retail & eCommerce, Daily Finance, Real Estate, FinTech & Blockchain, Banking & Insurance, Venture Capital, ASEAN


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ACN Newswire

Singapore’s CIC to Establish its Digital Trade Platform in Chongqing’s Guoyuan Port

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SINGAPORE, June 17, 2021 – (ACN Newswire) – Singapore-based Commodities Intelligence Centre (CIC) has signed a strategic agreement with Chongqing Liangjiang New District Management Committee, with an investment commitment of RMB 10 million (S$2.07 million) from CIC to establish its global digital trade platform in Guoyuan Port, Chongqing Municipality, China. The agreement was formally inked by Mr Luo Lin, Deputy Secretary of the Party Working Committee and Director of the Management Committee of Chongqing Liangjiang New Area, and Mr Peter Yu, Chief Executive Officer of CIC, at the “Chongqing Liangjiang New Area Key Technology Innovation Projects Virtual Signing Ceremony”. CIC’s parent ZALL Smart Commerce Group (2098.HK) also announced plans to invest in Guoyuan Port as part of the West China project.

The project is expected to contribute to the China-Singapore (Chongqing) Connectivity Initiative and will tap CIC platform capabilities in Singapore to enable data interconnection and interoperability and grow a vibrant commodity trading ecosystem in Guoyuan Port. The move comes as CIC is stepping up efforts to expand its global supply chain network and provide companies with increased access to market opportunities in China and Southeast Asia, helping them uncover new business opportunities, reduce transaction costs and achieve greater trading synergies globally, amid the pandemic.

Mr Peter Yu, Chief Executive Officer of CIC, shared, “The need to strengthen the digital connectivity of the world’s supply chain ecosystem is more important than ever today. CIC is proud to have inked this strategic agreement to establish our overseas digital trade platform in Chongqing, an important region that connects the Yangtze River Economic Belt and the Belt and Road route. This investment affirms our continued commitment to expanding our technology-enabled global B2B trading ecosystem that enables businesses to reap the benefits of the global digital trade economy, on the back of the Regional Comprehensive Economic Partnership (RCEP) and China’s dual circulation strategy, with greater digital trade connectivity between China and ASEAN.”

Leveraging the strategic connectivity advantages of the China-Singapore (Chongqing) Multimodal Transportation Demonstration Base, the new International Land-Sea Trade Corridor (ILSTC) and other international trade channels of the Chongqing Guoyuan Port National Logistics Hub, CIC’s digital trade platform would provide global trading services, such as transaction matching, customs declaration and clearance, supply chain logistics, trade finance, and global trade compliance to facilitate the development of an international commodities trading cluster in Guoyuan Port. The platform could also help accelerate the opening up of China’s inland economy and drive global commodity trading and investments into Chongqing, thereby bringing about deeper economic integration with China’s Belt and Road Initiative and the country’s western provinces and regions.

Located in the core part of Chongqing’s Liangjiang New Area, Guoyuan Port is a logistics hub integrating “water, rail, and road transport” of China’s inland rivers, and is the only port-type national logistics hub in west China. CIC’s project signing comes amid deeper Sino-Singapore cooperation under the China-Singapore (Chongqing) Connectivity Initiative, and increased investments by Singapore enterprises into Chongqing in sectors such as aviation, financial services, logistics and information and communication technology.

About Commodities Intelligence Centre

The Commodities Intelligence Centre (CIC) is a global trading platform for physical commodities including Ferrous & Non-Ferrous Metals, Chemicals & Plastics, Oil & Petroleum, and Agri Commodities. Launched in Singapore on 12 Oct 2018, CIC is a JV of China-based ZALL Smart Commerce Group, Global eTrade Services (GeTS) and Singapore Exchange (SGX) to build trade connectivity through digital marketplaces and to grow a vibrant trading ecosystem in Singapore.

CIC aims to revolutionize commodity trading and facilitate cross-border trade through deal matching, trade finance, supply chain logistics, track and trace and global trade compliance. Since its establishment in October 2018, CIC has achieved a GMV (Gross Merchandise Volume) of more than US$13.4 billion (S$17.6 billion), with over 5,800 registered users covering markets including Singapore, Malaysia, Indonesia, India, China, among other countries in Asia. For more information, please visit www.cic-tp.com.

For media enquiries, please contact
Email: CIC@preciouscomms.com


Topic: Press release summary
Source: Commodities Intelligence Centre

Sectors: Transport & Logistics, Exchanges & Software, Retail & eCommerce, Daily Finance, Real Estate, Human Resources, FinTech & Blockchain, Banking & Insurance, Venture Capital, ASEAN


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DOU+Traffic Carnival Goes Online, Joy Spreader Utilizes Data Algorithm to achieve “Precise Promotion” of 618 Festival

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HONG KONG, June 17, 2021 – (ACN Newswire) – The 618 Mid-year Shopping Festival has entered the sprint stage. This year, DouYin, the short video e-commerce platform, takes the first initiatives to influence and participate the festival. Its DOU+ has officially launched the “618 Traffic Carnival” campaign, with three major targeted scenarios, namely promoting traffic for stores, increasing traffic with “small windmills”, and promoting preferential products, assisting entrepreneurs in approaching target users “precisely”, so as to seize strategic node traffic and generate additional sales.

It is reported that the Traffic Carnival of DOU+ will provide traffic promotion services for businesses, which in turn will provide a broader market for marketing service providers on DouYin ecosystem chain. DOU+ helps merchants expand their compatible traffic pools. In order to take full advantages of DOU+ and achieve final profit realization, sophisticated and powerful algorithm should play the most significant role to achieve the purpose of precise matching, so that the tremendous traffic of 618 can be converted into precise and tangible profits.

Under the scenario of “product recommendation” of the e-commerce, in order to apply DOU+ to “product recommendation” videos, “precise” setting is required by merchants to approach targeted audience to promote their merchandises. In this way, directional promotion of traffic from short videos to Taobao/Tmall/JD stores can be optimized and improved, boosting the efficiency in converting best-selling items and increasing merchandises’ traffic. Under the scenario of live streaming e-commerce, merchants require “precise” traffic directing through real-time interaction in order to stimulate and arouse users’ consumption interests to promote conversion. Under the scenario of store exploration on DouYin, with the help of DOU+’s “preferential products promotion” to reach targeted customers, local merchants “precisely” position local customers, in order to improve stores’ effective rate of reaching users in the same cities through the traffic of 618.

Observers mentioned that the e-commerce shopping festival is shifting towards the “precise” operation, representing the inevitable trend of e-commerce development in the era of data algorithms. It also provides mutual benefits for various parties, such as MarTech service providers with data algorithm capabilities, among which Joy Spreader is an absolute leader. Combination of high-quality traffic of DOU+ and precise algorithm of the service providers can support businesses effectively to match with the consumers’ demands and reach more precise target groups to making full use of the traffic, while assisting product distribution of entrepreneurs and precise monetization of content publishers.

According to the data, Joy Spreader is one of the first MarTech companies to obtain sufficient advantages by taking early initiatives in the video e-commerce segment in China. Since January 2019, Joy Spreader became one of the first service providers on DouYin ecosystem with the utilization of data algorithm and interest recommendation technology to promote video content monetization business. By the end of the Q1 2021, Joy Spreader has access to more than 639,000 realizable access points on its new media database, including large proportion of DouYin accounts.

Experts predicts that given the exponential growth of short video e-commerce, DouYin, as the most influential platform, entering the fierce competition of 618, will certainly bring a new “precise” vitality to 618 with its interest recommendation technology and unique characteristics. Joy Spreader, one of the major powers forces in the ecosystem of short video e-commerce, the sophisticated algorithm capability as its core competitiveness will be further demonstrated through the 618 promotion, becoming a strong momentum and key driver for continuous development of the ecosystem of short video e-commerce.


Topic: Press release summary
Source:

Sectors: Media & Marketing, Cloud & Enterprise, Advertising
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