Connect with us

Blockchain

Why The Integration Of ADA By Simplex Is Of Paramount Importance To The Cardano Community

Cardano Is Seeing Exponential Spike In Developer Interest Ahead Of Smart Contract Launch

IOHK (Input Output Hong Kong) has teamed up with Israel-headquartered payment processing gateway Simplex to integrate Cardano (ADA). ADA joins the list of other digital currencies supported by Simplex in a bid to meet the rising interest and popularity of ADA. Cardano Becomes Latest Crypto To Use Simplex’s Fiat On/Off Ramps Simplex, which is a […]

Avatar

Published

on

Cardano Is Seeing Exponential Spike In Developer Interest Ahead Of Smart Contract Launch

Advertisement &  & 

IOHK (Input Output Hong Kong) has teamed up with Israel-headquartered payment processing gateway Simplex to integrate Cardano (ADA). ADA joins the list of other digital currencies supported by Simplex in a bid to meet the rising interest and popularity of ADA.

Cardano Becomes Latest Crypto To Use Simplex’s Fiat On/Off Ramps

Simplex, which is a Visa principal member, has incorporated Cardano. This means that convenient on-ramps and off-ramps are available for cardano users around the world. According to the announcement on Wednesday, ADA will be available for purchase across all Simplex partners, including cryptocurrency exchanges, wallets, custodial platforms, and brokers.

Suffice to say, fiat-to-crypto on-ramps are very important for the success of any cryptocurrency. At this particular time when digital currencies are gaining traction across the globe, it’s vital for users, especially newbies, to be able to purchase their favorite cryptocurrency seamlessly and reliably.

Thanks to this new tie-up, millions of crypto users can purchase ADA tokens with debit or credit cards, SWIFT transfers, SEPA, or Apple Pay. The financial institution cites Cardano’s growing prominence and developer activity as some key motives behind the addition:

“The renewed interest in Cardano is the product of a loyal social media following, a thriving community, and landmark achievements. As its popularity and appeal keep rising, both investors and developers will continue to explore new boundaries.”

Advertisement &  & 

Cardano has been gaining momentum in recent weeks following a series of significant network upgrades and huge announcements that brought more attention to the Charles Hoskinson-led platform.

Simplex has inked partnerships with over 360 cryptocurrency-focused firms since its launch and it offers services to exchanges like OKCoin and Binance. At the time of publication, the EU-licensed firm has integrated over 50 cryptocurrencies and hundreds of fiat currencies to ensure an excellent and secure user experience for all traders and investors.

Why The Integration Of ADA By Simplex Is Of Paramount Importance To The Cardano Community
ADAUSD Chart By TradingView

ADA is currently valued at $1.32. The recent (and forthcoming) upgrades and fiat onramps position the cryptocurrency for further upside as the present crypto market bull rally continues to unravel.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://zycrypto.com/why-the-integration-of-ada-by-simplex-is-of-paramount-importance-to-the-cardano-community/

Blockchain

Gemini Now Allows Users to Earn up to 2.25% Interest on Dogecoin

Dogecoin (DOGE) becomes the 32nd cryptocurrency on Gemini Earn’s portfolio as users can earn up to 2.25% interest on it.

Avatar

Published

on

The US-based cryptocurrency exchange Gemini announced it will grant its customers the opportunity to earn interest on Dogecoin. They can realize as much as 2.25% annual percentage yield (APY) on the meme coin. With this innovation, Gemini Earn now accounts for more than $2 billion in loans for its customers.

DOGE Coming to Gemini

The massive craze around the meme coin keeps its invasion and reached the US trading venue Gemini. The official website of the crypto exchange founded by the Winklevoss brothers announced to its users that they can start earning interest on DOGE with Gemini Earn.

The company revealed its custody support to the meme coin and affirmed that Gemini is the only regulated platform in the US where trading and earning interest on DOGE is allowed in all 50 states. Furthermore, Gemini’s officials opined that Dogecoin is a true successor of Bitcoin:

”We listed Dogecoin because we believe it is the people’s money and continues Bitcoin’s tradition of giving the control of money back to the people.”

The Gemini team also confirmed that clients may begin earning interest on SushiSwap (SUSHI), Injective (INJ), and Polygon (MATIC).

Gemini Earn stated that users can earn up to 7.4% APY on their crypto held on the exchange. Additionally, interest is earned and aggregated daily and customers can claim their digital assets at any time. Another main advantage of the service is that there are no minimum balances and fees to transfer into or redeem from it.


ADVERTISEMENT

Gemini Earn is accessible for every customer in the US and Singapore. With the addition of Dogecoin, there are now 32 digital assets that the service supports.

Another Innovation by Gemini

The founders of the cryptocurrency exchange – The Winklevoss twins – are well known for their support for the crypto industry and Bitcoin in particular. Their digital asset exchange is among the few regulated in the US and has made several notable partnerships as of late.

CryptoPotato reported recently that Gemini collaborated with Mastercard to launch a crypto credit card with rewards paid in the form of the primary cryptocurrency. According to the statement, the card will offer up to 3% of bitcoin cashback to users.

Many investors embraced the announcement and the waiting list quickly surged to 140,000. Gemini promised the card will come with no annual fees, combined with 24/7 live customer support, which should ”deliver a superior cardholder experience.”

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

You Might Also Like:


Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptopotato.com/gemini-now-allows-users-to-earn-up-to-2-25-interest-on-dogecoin/

Continue Reading

Blockchain

Public Mint Partners with KIRA to Enable Cross-Chain Liquid Staking

[Press Release – San Francisco, California, 10th May, 2021] Public Mint and KIRA have announced a strategic partnership that would see Public Mint’s native tokens integrated in KIRA’s cross-chain liquid staking platform, enabling holders of Public Mint’s USD+ and MINT tokens to benefit from cross-chain DeFi opportunities while continuing to receive yield through Public Mint. […]

Avatar

Published

on

[Press Release – San Francisco, California, 10th May, 2021]

Public Mint and KIRA have announced a strategic partnership that would see Public Mint’s native tokens integrated in KIRA’s cross-chain liquid staking platform, enabling holders of Public Mint’s USD+ and MINT tokens to benefit from cross-chain DeFi opportunities while continuing to receive yield through Public Mint.

KIRA is an interoperable blockchain hub that offers cross-chain liquid staking for a number of tokens. Liquid staking is an innovative DeFi primitive that tokenizes a user’s staked assets to enable seamless use in other environments. KIRA will allow users to deposit their Public Mint native assets, including the USD+ synthetic stablecoin and the MINT governance token, which will be seamlessly staked to continue to receive yield. In return, users will receive an IOU token that represents the funds locked in the platform and can be redeemed at any time for the underlying funds. Using a tokenized representation means that the underlying funds can be used seamlessly as if they were the original token, and can be put to work through other DeFi yield opportunities, effectively multiplying capital efficiency and yield.

Through the integration with KIRA, Public Mint assets can be connected to a number of other blockchains supported by the network thanks to its Interchain Exchange Protocol (IXP). This further enhances Public Mint’s vision of interoperability, adding to the existing native bridge with the Ethereum blockchain.

“We’re excited to be partnering with KIRA to further connect the Public Mint blockchain with the wider crypto ecosystem,” said Paulo Rodrigues, CEO of Public Mint. “KIRA’s liquid staking ability will vastly increase capital efficiency and attract more liquidity to Public Mint’s Earn program. We expect to see even more use cases for USD+ and MINT deriving from this integration in the future.”

“Building a truly inclusive and capable DeFi ecosystem is what KIRA stands for, which is why we designed our cross-chain liquid staking system,” said Milana Valmont, CEO of KIRA. “Partnering with Public Mint furthers that vision to bring KIRA to the widest audience possible, especially given their focus on users who are not too crypto-savvy.”

Public Mint is a complete platform for synthetic fiat that is fully collateralized, regulated and FDIC-insured, running on a fiat-native blockchain. The platform is designed to be fiat-friendly, allowing non-crypto users to earn significant yield on their assets without exposing themselves to the complexity and volatility of cryptocurrencies. The EARN program is Public Mint’s yield aggregation platform, containing strategies that combine yield opportunities from both DeFi and more traditional cryptocurrency lending, commonly referred to as “CeFi.” EARN will be available from Q3 through the Public Mint mobile wallet app, complete with a native fiat-to-crypto rail, as well as with USDC bridged from the Ethereum blockchain.

About Public Mint

Public Mint bridges the worlds of traditional fiat with the innovative world of crypto. It offers a complete platform for synthetic fiat, regulated and fully collateralized with funds held on deposit with FDIC-insured financial institutions.

Public Mint offers a fiat-native blockchain, APIs and web components, open and ready for anyone to build fiat-native applications and accept credit cards, ACH, wire transfers, and more — no bank accounts needed.

About KIRA

KIRA is the first decentralized network that enables market access to any digital asset in the crypto ecosystem. Users can earn block and fee rewards from staking any digital asset on multiple chains at the same time, while maintaining full liquidity and custody over their funds, whether trading on KIRA or using other DeFi apps simultaneously.

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.


Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptopotato.com/public-mint-partners-with-kira-to-enable-cross-chain-liquid-staking/

Continue Reading

Blockchain

Rari Capital Will Reimburse Hack Victims with $26 Million From Developer Fund

After suffering pool exploit, core developers of Rari Capital will reimburse hack victims with up to $26 million worth of RGT.

Avatar

Published

on

DeFi protocol Rari Capital plans to reimburse its affected users after a hacker managed to exploit its liquidity pool, draining 10 million worth of Ethereum (ETH) – around 60% of users’ funds.

Jai Bhavnani, Rari Capital CEO, said the protocols’ core contributors have agreed to return 2 million of their $RGT —which was initially allocated for developers as an incentive— back to the DAO and reimburse impacted users.

According to a postmortem, the attacker drained the pool by taking a flash loan from the exchange dYdX to deposit ETH and make repeated withdrawals. The protocol will prevent deposits and withdrawals in the same block to avoid these flash loan attacks.

ETH Pool Exploited

The Rari Capital Ethereum Pool transfers ETH into Alpha Finance’s ibETH token. However, developers were not aware of a function in the ibETH token that could artificially inflate its value. The attacker took advantage of that function, manipulating the contract to withdraw more funds than deposited. He stole 2600 ETH of the Ethereum Pool, according to David Lucid, Rari Capital’s lead developer.

Rari Capital is still discussing proposals via community calls. The first security measure is to require all upcoming protocols the company integrates with to review their integrations, stating that protocols “know the code they wrote better than anyone else.”


ADVERTISEMENT

As for auditing, the company is waiting for an audit with OpenZeppelin and plans to enlist other auditing firms rather than Quantstamp.

DeFi Hacks on the Rise

Rari Capital is the latest DeFi hack. The Rari Governance Token (RGT) tumbled 50% following the news, going from $18 to $8. However, the coin managed to recover to $12 at the time of writing.

There have been numerous attacks in the DeFi space recently. As reported by CryptoPotato, at least $50 million disappeared from Uranium finance in an apparent hack. However, most users in the crypto community speculate of a possible rug pull.

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

You Might Also Like:


Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptopotato.com/rari-capital-will-reimburse-hack-victims-with-26-million-from-developer-fund/

Continue Reading

Blockchain

Indonesia Plans to Tax Crypto Trading

Following the growing adoption of digital assets in the country, Indonesia’s officials consider a plan to start taxing cryptocurrency trading.

Avatar

Published

on

The Southeast Asian country of Indonesia considers a plan to tax trading with digital assets. However, a spokesman from the tax office revealed that the proposed scheme was still at the discussion stage, and no changes have yet been applied.

The Crypto Environment in Indonesia

The biggest economy in Southeast Asia – Indonesia – saw a massive increase in crypto users in the past months. Following the recent rally of most digital assets, local residents of the country turned their sight to them. According to a report, Indodax – the largest crypto exchange platform in Indonesia – registered more than 700 000 new members only for the first four months of 2021 as the total number rose to three million people.

However, Reuters reported that the country’s officials are contemplating a plan to tax trading with Bitcoin and all altcoins. Neilmaldrin Noor, a spokesman at Indonesia’s tax office, asserted that the future implementations were still at the discussion phase, and no changes have yet been administered. Additionally, he explained that taxation is vital for the economy:

”It is important to know that… if there is a profit or capital gain generated from a transaction, the profit is an object of income tax. So the tax payer who receives capital gain has to pay the tax and report it.”

Indonesia has a very controversial relationship with cryptocurrencies. The authorities of the country banned the use of digital assets as a payment instrument, but on the other hand, residents are allowed to trade with them as a commodity.

Following the Asian Wave

Indonesia’s tax reforms regarding cryptocurrencies are not pioneering. As CryptoPotato reported, another Asian country – South Korea – revealed its intentions to start taxing digital assets.


ADVERTISEMENT

The authorities are reportedly looking to place a 20% tax on profits made from cryptocurrency trading at the start of next year. The Finance Minister of the East Asian country asserted that such rules are ”inevitable” to start from 2022.

Somewhat surprisingly, most residents of South Korea approved the incoming implementations. A survey revealed that around 54% of the poll participants backed the country’s tax addition. Moreover, older Koreans were significantly more open to the idea comparing to the younger generation.

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

You Might Also Like:


Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptopotato.com/indonesia-plans-to-tax-crypto-trading/

Continue Reading
Esports12 mins ago

Cloud9 give boost to MSI 2021 rumble stage hopes with much-needed victory over DWG KIA

Energy15 mins ago

Asia/Pacific Market Trends to Boost Global Off-Road Equipment in 2021

Aviation16 mins ago

The Airbus A220: 5 Things You Must Know

Blockchain17 mins ago

Gemini Now Allows Users to Earn up to 2.25% Interest on Dogecoin

Blockchain18 mins ago

Public Mint Partners with KIRA to Enable Cross-Chain Liquid Staking

Blockchain19 mins ago

Rari Capital Will Reimburse Hack Victims with $26 Million From Developer Fund

Blockchain19 mins ago

Indonesia Plans to Tax Crypto Trading

Blockchain20 mins ago

Shield Finance Completes a $780K Round to Create a DeFi Insurance Aggregator

Blockchain26 mins ago

Mining Bitcoin: How to Mine Bitcoin

Energy26 mins ago

Sinopec: Acelerar el desarrollo de marca global para liderar el desarrollo empresarial de calidad

Blockchain27 mins ago

Bitcoin Cash price prediction: BCH to retest $1,500 resistance

Blockchain30 mins ago

Ethereum price prediction: Ethereum spikes below $3,700, another retest later?

chair-finance-debuts-groundbreaking-first-dex-for-utility-nfts.png
Blockchain30 mins ago

Chair.Finance Debuts Groundbreaking First DEX For Utility NFTs

Esports32 mins ago

Tony Hawk joins GameSquare Esports in special advisory role

Aerospace32 mins ago

Senate Intelligence chairman wants further review of decision to relocate U.S. Space Command

Aviation32 mins ago

Abu Dhabi Expansion: Wizz Air Targets More Low-Cost Destinations

Energy32 mins ago

Laboratories At Gage Products Are Recognized For Quality

Energy32 mins ago

Laboratories At Gage Products Are Recognized For Quality

Energy32 mins ago

Electrical Equipment Market In India- ABB Ltd., Bharat Heavy Electricals Ltd., CG Power and Industrial Solutions Ltd., among others to contribute to the market growth

Energy32 mins ago

Electrical Equipment Market In India- ABB Ltd., Bharat Heavy Electricals Ltd., CG Power and Industrial Solutions Ltd., among others to contribute to the market growth

Energy32 mins ago

Caterpillar Announces New 2030 Sustainability Goals and Reports Environmental, Social and Governance (ESG) Progress

Energy32 mins ago

Caterpillar Announces New 2030 Sustainability Goals and Reports Environmental, Social and Governance (ESG) Progress

Energy32 mins ago

Worldwide Forklift Industry to 2030 – Featuring Komatsu, Hyundai Heavy Industries and Mitsubishi Forklift Among Others

Payments33 mins ago

Revolut launches discount finder browser extension

Blockchain40 mins ago

AIRSOFT Technology LTD Heads Strongly into IFX EXPO Dubai

Blockchain44 mins ago

NiiFi raises $3 million in seed round to bring instant finality to DeFi

Energy47 mins ago

More Electric Aircraft Market to Reach $4.61 Bn, Globally, by 2027 at 15.5% CAGR: Allied Market Research

Aviation48 mins ago

One Seat – Three Cabins: The Future Of Long-Haul Narrowbody

Aviation48 mins ago

One Seat – Three Cabins: The Future Of Long-Haul Narrowbody

Aviation48 mins ago

One Seat – Three Cabins: The Future Of Long-Haul Narrowbody

Trending