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Stablecoins, DEX Volume Soars After March’s Sell-Off

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Stablecoins, DEX Volume Soars After March's Sell-Off

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Amid the markets bloodbath on March 12-13, the S&P500 index lost 12%, causing a global panic. Bitcoin dropped 50% in minutes, and many people considered stablecoins as a new type of safe haven. The stablecoin growth has been accelerating since March 2020. Back then, the total market cap of stablecoins was under 6 billion. Now, Tether alone has a market valuation of more than $9.2 billion.

Stablecoins See Explosive Growth

According to Vysyn Ventures analysts, the global market investors have entered the stablecoins market following the deficiency of the U.S. dollar. Also, investors are forced to convert their capital into USDT thanks to margin calls on collateralized loans.

Per a report by Sino Capital (based in Beijing), Chinese investors are another big reason behind the surging total market supply of Tether. the analysts say Chinese traders look towards Tether every time they want to convert their Bitcoin into something less volatile.

Chinese OTC trading pro Sun Xiaoxiao tells the public that locals use Tether for high-risk money transfers within the country. Chinese authorities are also hunting illicit OTC traders and freezing their bank accounts in an attempt to stop the grey capitals from spreading.

Decentracenter analyst FilbFilb claims there is a high correlation between Bitcoin price and Tether issuance. The relationship seems obvious, as Tether has more than 9 billion coins in circulation thanks to its long history of private purchases. Though the exact dependency ratio is still a concern:

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Ethereum, DAI, and DEX Markets Rapidly Evolve

In recent months, the supply of the DAI stablecoin running thanks to Ethereum’s MakerDAO protocol is increasing too. Ethereum, WBTC, and USDC stablecoin are three assets fueling the stablecoin. The total market cap of DAI is currently $125 million, and it is a big gain since the March 2020 market downfall. At the same time, the majority of Tether coins are moving on top of the Ethereum blockchain as well.

More than that, Decentralized Exchange (DEX) Ethereum dapps are performing well. Since March 2020, DEX exchanges have generated $2.5 billion in trades. Among the top 7 Dapps, there are Uniswap, IDEX, Kyber, 0x, Oasis, Bancor, and Airswap. 

May 2020 shows a 42% increase in volume compared to April, with 38% of new traders joining the party. Also, since January 2020 the total volume of DEX trading received a 177% growth.


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The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

Source: https://zycrypto.com/stablecoins-dex-volume-soars-after-marchs-sell-off/

AR/VR

Captain Toonhead vs the Punks from Outer Space Unleashes FPS Tower Defense in 2021

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Years ago titles like Defense Grid 2: Enhanced VR Edition brought classic tower defence gaming to headsets but there’s been a lull of late. Developers like Teravision Games are looking to change that whilst tailoring the genre to VR, combining it with first-person shooter (FPS) action for its upcoming project Captain Toonhead vs the Punks from Outer Space.

Captain Toonhead

Revealing the first gameplay trailer today, Captain Toonhead vs the Punks from Outer Space is a quirky single-player adventure where you’re cast as the titular character who teams up with a cartoon-obsessed spaceship technician called Elliot Salazar to save the world from Earth’s last dictator, Nikolas Voorhees.

You’ll need to defend your base from an onslaught of technologically-enhanced creatures from copter cats and T-Rexes to merciless cyberchickens. You’ll be able to place and upgrade and variety of towers and then head directly into battle with a unique range of weaponry or jump into one of the towers.

“Captain Toonhead started with a fantasy,” said Enrique Fuentes, CEO of Teravision Games in a statement. “How awesome would it feel to experience a tower defence if you were fighting waves of enemies from the front lines, in first-person — while fully immersed in VR?”

Captain Toonhead

“It was very important to us to make something genuine to who we are as developers,” added Fuentes, “so we didn’t shy away from including some Latin American elements like our super-powerful chancla and a piñata-launching tower. Even our hero was designed to be a true reflection of us and our love for geek culture. All of us here at Teravision Games are ‘toonheads’, and hopefully we created something that many other toonheads out there will enjoy.”

Captain Toonhead vs the Punks from Outer Space will support Oculus Rift/Rift S, HTC Vive and PlayStation VR when it launches in the first half of 2021. As Teravision Games release further details VRFocus will let you know.

Source: https://www.vrfocus.com/2020/10/captain-toonhead-vs-the-punks-from-outer-space-unleashes-fps-tower-defense-in-2021/

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Energy

Dorian LPG Ltd Provides Update for the Second Quarter 2021 and Announces Second Quarter 2021 Earnings and Conference Call Date

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STAMFORD, Conn., Oct. 22, 2020 /PRNewswire/ — Dorian LPG Ltd. (NYSE: LPG) (the “Company” or “Dorian LPG”), a leading owner and operator of modern and ECO very large gas carriers (“VLGCs”), announced today that it had completed the repurchase of the Captain John NP from Japanese interests effective October 13, 2020. The debt balance paid off was approximately $18.3 million, and the transaction will not result in any gain or loss.

Separately the Company is providing the following preliminary data for the quarter ended September 30, 2020. The following unaudited financial data for the quarter ended September 30, 2020 is preliminary and based on information available to the Company at this time. The financial data has been prepared by and is the responsibility of the Company’s management and does not present all information necessary for an understanding of the Company’s financial condition as of September 30, 2020 and its results of operations for the three months ended September 30, 2020. The Company has not finalized its financial statement closing process for the quarter ended September 30, 2020. During the course of that process, the Company may identify items that would require it to make adjustments, which may be material to the information provided below. As a result, the information below constitutes forward-looking statements and is subject to risks and uncertainties, including possible adjustments to the preliminary results disclosed below. The Company is providing this information on a one-time basis only and does not intend to update this information prior to the final release for the quarter ending September 30, 2020. Except as otherwise provided herein, capitalized terms used herein but not otherwise defined herein shall have the meanings set forth in the Company’s Annual Report on Form 10-K. Based on information available to the Company at this time, the Company expects that for the quarter ending September 30, 2020:

Time Charter Equivalent (1) revenues
to be between


$53,000,000  —  $55,000,000




Total Vessel operating expenses
(including drydock-related expenses)
to be between


$21,000,000  —  $22,000,000




Calendar Days 


2,024

Available Days 


2,126

Operating Days


2,070

Utilization Rate


97.4%


(1)

Time Charter Equivalent (“TCE”) is a non-U.S. GAAP measure. Refer to the reconciliation of
revenues to TCE revenues included in this press release below.

Reconciliation to Non-GAAP Financial Information

Time Charter Equivalent Revenues

TCE revenues are a shipping industry non-U.S. GAAP measure of the revenue performance of a vessel used primarily to compare period–to–period changes in a shipping company’s performance despite changes in the mix of charter types (such as time charters, voyage charters) under which the vessels may be employed between the periods. The Company’s method of calculating TCE revenues is to subtract voyage expenses from shipping revenues for the relevant time period, which may not be calculated the same by other companies.

TCE revenues are  not a recognized measure under U.S. GAAP and should not be regarded as a substitute for revenues. The Company’s presentation of TCE revenues does not imply, and should not be construed as an inference, that its future results will be unaffected by unusual or non-recurring items and should not be considered in isolation or as a substitute for a measure of performance prepared in accordance with U.S. GAAP.

The following table sets forth a reconciliation of revenues to TCE revenues (unaudited) for the period presented:



(in U.S. dollars)



Three months ended




      September 30, 2020 (2)


Revenues


$

55,000,000


Voyage expenses



(1,000,000)


TCE revenues


$

54,000,000


(2) Based on the midpoint of the preliminary projection for the second quarter ended September 30, 2020 included herein.

The Company will also issue a news release on Monday, November 2, 2020 prior to the market open, announcing its financial results for the second quarter ended September 30, 2020.

A conference call to discuss the results will be held the same day at 10:00 a.m. ET. The conference call can be accessed live by dialing 1-877-407-9716, or for international callers, 1-201-493-6779, and requesting to be joined into the Dorian LPG call.

A replay will be available at 1:00 p.m. ET the same day and can be accessed by dialing 1-844-512-2921, or for international callers, 1-412-317-6671. The passcode for the replay is 13712107. The replay will be available until November 9, 2020, at 11:59 p.m. ET.

A live webcast of the conference call will also be available under the investors section at www.dorianlpg.com.

About Dorian LPG Ltd.

Dorian LPG is a liquefied petroleum gas shipping company and a leading owner and operator of modern VLGCs. Dorian LPG’s fleet currently consists of 24 modern VLGCs. Dorian LPG has offices in Stamford, Connecticut, USA; London, United Kingdom; Copenhagen, Denmark; and Athens, Greece.

Visit our website at www.dorianlpg.com

For further information:

Dorian LPG Ltd.
Ted Young
Chief Financial Officer
(203) 674-9900
[email protected]

Source: Dorian LPG Ltd.

SOURCE Dorian LPG Ltd.

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https://www.dorianlpg.com

Source: https://www.prnewswire.com:443/news-releases/dorian-lpg-ltd-provides-update-for-the-second-quarter-2021-and-announces-second-quarter-2021-earnings-and-conference-call-date-301157597.html

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Energy

SK Innovation Declares Ambition to ‘Lead the Efforts for Battery Safety, Charging Speed and Driving Range’ at InterBattery 2020

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The company has prepared for the exhibition with the pursuit of a strategy toward developing a model for win-win growth by contributing to building an ecosystem for battery-related industries, including E-mobility, not simply being a battery manufacturer. 

To showcase its status as a battery supplier equipped with the most cutting-edge technology in the industry, the company is determined to show its competitive advantages in three most crucial factors in batteries: fire safety of batteries, high-speed charging and batteries for long-range driving.

SK Innovation added that it will highlight in the exhibition its batteries can contribute to earning customer and market trust and developing industries using batteries such as E-mobility and electricity storage, including ESS. By doing so, the company said the highlight will be in line with the “SK Inside” strategy it unveiled in CES 2020 in Las Vegas which shows its commitment to making its batteries the battery of choice to consumers.

Being consistent with the commitment, the company’s exhibition slogan is “Safer than ever, Faster than ever, Longer than ever.” Under the slogan, SK Innovation introduces “Battery for Next Generation,” which the company pursues to develop. The company went on to explain the slogan represents its promise to the battery-related industries, including the EV industry as a battery supplier.

With its first order from a global customer in 2009, SK Innovation began supplying batteries in 2010. At this year’s exhibition, the company stresses any of its customers, including providers of ESS or electric vehicles using SK batteries, have never experienced a battery fire incident, positioning itself as a supplier that places safety as a top priority.

The long-cherished desire in the EV industry is high-speed charging. To fulfill the desire, SK Innovation has been developing batteries that only require charging twice for 10 minutes each time to provide enough power for an EV to run from Seoul to Busan in a round trip (260 miles). The battery supplier expects it can complete the development by as early as the end of this year or the first half of next year. Once such batteries with high usage are developed, they can play a significant role in the spread of EVs.

SK Innovation developed NCM9½½ for the first time in the industry following NCM622 and 811, which it also developed and mass-produced for the first time in the industry. Based on its technological capacity demonstrated by the development, the companied decided to concentrate its capacity on long-life batteries that enable long-range driving. SK Innovation also successfully conducted the industry’s first test-driving that went on 1,000 km under the most optimal driving conditions. The long-range driving is enabled and supported by the technology using high-density nickels as well as the company’s own technology that does not cause battery efficiency issues even after more than a thousand times of charging and discharging.   

To present the importance of the technologies in detail in the exhibition, SK Innovation will introduce six themes. These include the history and major achievements of the company’s EV battery business, global partnership, “Next Battery” and its battery technology differentiated from others, key achievements in its global business and manufacturing processes, a blue print for future energy-focused circular economy through BaaS (Battery as a Service) and social values associated with the battery business.

Since the development of its first lithium-ion batteries in 1996, SK Innovation has written a history of being the industry’s first in development, such as development of batteries on HEV, PHEV and BEV as well as in mass production of NCM622, NCM811 and NCM9½½. These examples of the company’s history and main achievements in its battery business will be also on display. SK Innovation will also exhibit global EVs with its batteries mounted on.

“SK Innovation has made a huge investment in R&D to become a total energy solution provider since 1982,” said Su-Kil Lim, SK Innovation Vice President of Public Relations. “We will unveil most notable examples of our capacity recognized by our global partners in the exhibition. By sharing the future of batteries with the market and customers, we will create an opportunity to grow together with a variety of ecosystems including EVs.”

SOURCE SK Innovation

Source: https://www.prnewswire.com:443/news-releases/sk-innovation-declares-ambition-to-lead-the-efforts-for-battery-safety-charging-speed-and-driving-range-at-interbattery-2020-301157794.html

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