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Cardano’s Charles Hoskinson Says Ethereum Is ‘The Hotel California Of Crypto’

Mark Brennan
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Cardano’s Charles Hoskinson Says Ethereum Is ‘The Hotel California Of Crypto’

 

Hoskison remains relentless in his criticism of the Ethereum Merge.



In a tweet on Friday, Cardano founder Charles Hoskinson compared Ethereum to an alluring illusion that turns into a nightmare you can not escape, referencing a classic rock song by Eagles titled “Hotel California.”

“Ethereum is becoming the Hotel California of Crypto,” Hoskinson tweeted.

 

Hotel California is a 1976 classic rock hit by the band Eagles with the famous line, “You can check out any time you like, but you can never leave.” Writer David L. Nevins, in an article for The Fulcrum, while citing Don Henley’s interpretation of the song as “a journey from innocence to experience,” compares it to “a journey of inevitable change that never goes quite as planned. And as we take this journey, ‘along the way most of us want to check out but for some we can never quite leave.'”

Meanwhile, music writer Luca Divelti said in 2018, “The song thus depicted a veil of social criticism towards the foundations of the American Dream, (a) symbol of the illusion of a better future that can also turn into an endless torment, able to lure you with its promises and then deceive you: leaving California means losing hope forever, and it would be a shame to leave the suite in the hotel of dreams.”

Notably, Hoskinson’s comments come as there is still no clarity on when Ethereum investors will be able to access their staked Ethereum. While many believed that holders would be able to access their staked Ethereum immediately after the Shanghai upgrade, expected six months to a year from now, a shared discord message from an Ethereum developer reveals that there is no clear timeline for withdrawals even after the Shanghai upgrade.

It is worth noting that the Cardano founder has been relentless in his criticism of the Ethereum Merge. As The Crypto Basic reported on Friday, Hoskinson poked holes at the fact that one had to be wealthy to be a validator on the Ethereum network, implying that it could lead to a higher chance of centralization.

Notably, Cardano, unlike Ethereum, has liquid staking, which means user funds are accessible at all times. Additionally, holders participate in network validation by delegating their holdings with stake pools.

It bears mentioning that no love was lost between Hoskinson and Ethereum’s Vitalik Buterin. Owing to their rocky past, both crypto founders have a history of throwing subliminal jabs at each other. It is worth noting that Hoskinson was one of the original co-founders of Ethereum, along with Buterin, but is believed to have left the project after a few months over philosophical differences with Buterin.

 

Shiba Inu (SHIB) Unveils “Exciting Shoot” For Shib Metaverse

Mark Brennan
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Shiba Inu (SHIB) Unveils “Exciting Shoot” For Shib Metaverse

Shiba Inu is working towards releasing new photos for the metaverse project.


The official Twitter account of the leading canine-themed cryptocurrency project Shiba Inu recently shared an interesting announcement with members of the SHIBArmy. 

As revealed in a recent tweet, the Shiba Inu team noted that it is working on an exciting shoot it plans to unveil to the community soon. 

“Happy Friday! We are working on an exciting shoot for the ShibArmy today,” Shiba Inu said.

 

Details of the Shoot

The team added four pictures to the tweet, showing different scenes of a lady giving instructions to a Shibe on the best positions to take on for the photo or video shoot. The entire background is covered in green color, but there is a tendency that the shoot would come out differently after the necessary work is completed. The shoot might be for the Shib: The Metaverse.

The shoot is performed in correspondence with Metastage, which is Volumetric 3D capture for creating holograms across the XR landscape, and BT Studios.

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Image Source: Twitter @Shibtoken
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Image Source: Twitter @Shibtoken

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Image Source: Twitter @Shibtoken
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Image Source: Twitter @Shibtoken

The shoot aims to show supporters how the Shiba Inu team is doing hard work on these interesting projects.

Meanwhile, Shiba Inu has recently rolled out its card collectible game in Australia for early testing purposes.

Shiba Inu Game ‘Shiba Eternity’ Launches in Australia

Lele Jima
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Shiba Inu Game ‘Shiba Eternity’ Launches in Australia

Shiba Inu has announced the launch of its card collectible game, Shiba Eternity, in Australia.


The popular cryptocurrency project revealed the development in a tweet today, saying that members of the SHIBArmy, who are residents in Australia, can now download the game. 

At the moment, the game is available on iOS devices only, with plans on the way to also launch the game for Australian Android users. 

“Congratulations ShibArmy, ShibaEternity launches in Australia! Available in the Apple App Store at this time. Google Play Store is launching soon!” Shiba Inu tweeted.  

Shiba Inu Working to Boost Shiba Eternity Adoption

The move is part of efforts to test the game’s performance in preparation for its worldwide release. Recall that last month, the team behind the Shiba Inu project rolled out the game for early testing in Vietnam. The game had a warm reception and gathered over 3,000 downloads in weeks. Based on the massive downloads, the development team noted a need to increase the game’s server capacity by more than 50x. No doubt, more people are expected to download the game when it is fully launched. 

Steps are being made to bolster the game’s adoption when it eventually goes live. TheCryptoBasic reported last month that William Volk, the consultant of Shiba Eternity, showcased the game at the world’s biggest gaming event.

Long Term Investors Sentiment Positive As Over 30 Billion Terra LUNA Classic (LUNC) Staked In Few Days

Mark Brennan
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Long Term Investors Sentiment Positive As Over 30 Billion Terra LUNA Classic (LUNC) Staked In Few Days

 

Long-term investor sentiment in Terra Classic (LUNC) appears positive.


In a tweet today, LUNC staking, an official bot tracking and updating Terra Classic staking data every 10 minutes, reveals that over 566 billion LUNC have been staked, representing 9.643% of the total 6.9 trillion supply.

 

It shows that an additional 32 billion LUNC has been staked in the last few days. The Crypto Basic last reported on September 10th that about 534 billion Terra Classic had been staked. It is a good sign for the network, which hopes to undergo a renaissance, showing that more investors have long-term belief in the project. Consequently, it also reduces the circulating supply and selling pressure on the asset.

It bears mentioning that staking resumed on the Terra Classic network as part of the celebrated  V22 network upgrade on August 27. Some perceive it as the first step in the LUNC rebuilding process, offering holders wealth-building opportunities. According to data from Staking Rewards, there is no minimum deposit limit for LUNC staking. Additionally, staked assets are locked for 21 days and attract rewards of up to 37.8%.

The LUNC community has since proposed and passed a 1.2% tax burn proposal as part of its roadmap to Terra Classic recovery. The proposal aims to curb excess LUNC supply and will be implemented three days from now on all on-chain transactions. Additionally, the community is working on getting central exchanges on board to apply the tax burn to off-chain activities like spot trading, as most LUNC activities take place on these platforms.

LUNC is currently trading at the $0.0003083 price point, up 6.65% in the last 24 hours, ranked as the 31st crypto project by market cap.

Ripple vs. SEC: Unidentified Third Party Wants to Censor Portions of Document Recently Filed By SEC

Mark Brennan
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Ripple vs. SEC: Unidentified Third Party Wants to Censor Portions of Document Recently Filed By SEC

Ripple vs. SEC: Unidentified Third Party Seeks Limited Redaction to Attachment Filed By SEC In its Summary Judgment Motion.



Another third-party request for limited redactions.

An unidentified company dubbed Third Party B has requested limited redaction to one of the attachments filed by the Securities and Exchange Commission in its motion for summary judgment. The document that the party requests limited redaction for is a declaration of Third Party B that the SEC included in its summary judgment motion. 

According to the letter addressed to Judge Analisa Torres, the proposed redactions are narrowly tailored to protect the identity and privacy interests of Third Party B as well as its employees. 

Reason for the Proposed Redactions

The unidentified party noted that the proposed redactions do not constitute a judicial document and have no bearing on the outcome of the lawsuit between the SEC and Ripple.

Notably, while Third Party B’s declaration does not include the name of the company and its employees, the party stated that information contained in paragraph 3 of the document could give away the identity of its business.

“The proposed redactions do not cover any substantive information conveyed in the declaration relating to the trading in XRP, and the information contained in the proposed redaction is not material to the analysis of the motion,” the party said.

Meanwhile, the parties have already filed their motions for summary judgment. They also met two days ago to discuss possible redactions based on each side’s request.

Twitter user @SeanAmstutz questioned, “how do these 3rd parties know what’s in these sealed documents already? How do they even know what they are requesting to redact? Did one of the sides leak it out or advise them to redact their identities?”

To which James replied: “Check out footnote 2 in the letter below. The third parties are given access to the information as long as they sign a protective order agreeing not to disclose it.”

 

As reported by TheCryptoBasic, the parties will publicly file the redacted versions for summary judgment on September 19, 2022.

Over 757,000 ETH Worth $1.07 Billion Shuffled in 24 Hours After Ethereum Merge 

Lele Jima
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Over 757,000 ETH Worth $1.07 Billion Shuffled in 24 Hours After Ethereum Merge 

Following the launch of Ethereum Merge, large volumes of ETH coins have been shuffled between cryptocurrency exchanges and unknown wallets. 

Leading cryptocurrency whale tracking service, Whale Alert, has observed the large movement of Ethereum coins in the last 24 hours. The majority of the funds were sent from one unknown wallet to the other. 

Details of the Transactions

One hour ago, a total of 50,000 Ethereum coins worth around $72.11 million, were sent from an address on the Gemini cryptocurrency exchange to an unknown cryptocurrency wallet. 

Whale Alert also observed the movement of 50,000 ETH from an unknown wallet to another anonymous Ethereum address. The funds were worth $72.23 million at the time of the transaction. 

Another 35,000 ETH ($50.87 million) were shuffled between two unknown Ethereum whales less than two hours ago. 

In a similar development, 50,000 ETH were also seen leaving an unknown wallet to another unknown wallet and the funds were worth around $72.28 million.

39,450 Ethereum valued at around $56.93 million were transferred to an anonymous wallet from an unknown wallet. 

Similarly, 39,368 ETH ($56.79 million) were shuffled between two anonymous whales, while another 100,000 ETH ($145.62 million) were also sent from an unknown wallet to another unknown wallet. 

Roughly six hours ago, a total of 99,858 worth around $147.17 million were transferred between two unknown wallets, while another 109,515 ETH ($160.51 million) were also sent from an unknown wallet to another unknown wallet. Again, another 10,000 Ethereum coins worth $14.68 million were sent from an unknown wallet to an address on FTX. 

Another 10,000 ETH ($14.6 million) were transferred to OKEx from an unknown wallet.

More transactions

Aside from the mentioned transactions, Whale Alert also reported the movement of other large volumes of Ethereum. At the time of writing this line, a total of 757,018 was shuffled between unknown wallets and exchanges in the last 24 hours after the merge went live, and the funds were valued at around $1.07 billion at the current exchange rate. 

 

Top Ukrainian Supermarket to Accept Bitcoin, Ripple, Cardano, Dogecoin and Others Via Binance Pay

Lele Jima
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Top Ukrainian Supermarket to Accept Bitcoin, Ripple, Cardano, Dogecoin and Others Via Binance Pay

Binance drives crypto adoption via a partnership with a top Ukrainian food chain retailer.


Varus, a Ukrainian top food chain retailer, has partnered with the world’s largest cryptocurrency exchange Binance, to accept cryptocurrency payments.

Binance announced in a tweet today, saying: 

“Binance partners with one of Ukraine’s top food chain retailers, VARUS, to allow the community to enjoy seamless crypto payments with fast delivery across the country.” 

According to the announcement, Varus has become the first European supermarket to accept cryptocurrency payments via the Binance Pay solution. 

Features of the Payment Solution

Through the initiative, Varus customers can now order food and groceries online and make payments for them using selected cryptocurrencies on the Binance Pay wallet. 

After making payments with cryptos, Ukrainian shoppers can enjoy fast delivery to nine Ukraine cities, such as Kamianske, Kryvyi Rih, Vyshhorod, Zaporizhzhia, Kyiv, Dnipro, Brovary, Nikopol, and Pavlograd. 

Ukrainians who would like to use the payment solution are required to download and install the Binance app, log on to the Varus website to select the item they want, and make payment with Binance Pay, the company said in a statement. 

While Varus is the first Ukrainian supermarket to leverage Binance Pay, the solution is already in use by Foxtrot, a Ukrainian chain of stores for electronics and home appliances.  

Binance Launches Giveaway

In celebration of the initiative, Binance and Varus announced a giveaway for users of the solution. The campaign will run for a period of one month, starting from September 15, 2022, to October 15, 2022. Customers who order items from Varus worth 500 UAH ($13.54) and make payment with Binance Pay will receive a bonus of UAH 100 ($2.71). 

Binance Pay is a borderless payment solution that allows people to pay and get paid with cryptocurrencies. Binance developed the solution. 

Currently, Binance Pay supports 40 plus cryptocurrencies.

“ADA, ATOM, AVA, BCH, BNB, BTC, BUSD, CTSI, DASH, DOGE, DOT, EGLD, EOS, ETC, ETH, FIL, FRONT, FTM, GRS, HBAR, IOTX, LINK, LTC, MANA, MATIC, NEO, OM, ONE, PAX, QTUM, STRAX, SXP, TRX, TUSD, UNI, USDC, USDT, VAI, VET, WRX, XLM, XMR, XRP, XTZ, XVS, ZEC, ZIL”.

Top Market Intelligence Platform Says Terra Classic (LUNC) Massive Rally Pending That Can Start Main Craze

Albert Brown
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Top Market Intelligence Platform Says Terra Classic (LUNC) Massive Rally Pending That Can Start Main Craze

 

According to a Santiment analyst, Terra Classic (LUNC) is fast becoming the next king meme coin with a pending main craze.


Several meme coins have previously emerged in the crypto scene, dominating the space and successively falling off the throne. Dogecoin (DOGE), Shiba Inu (SHIB), and Safemoon (SAFEMOON) have all sprung up and lost the spotlight. Terra Classic (LUNC) appears to be reclaiming the throne, unlike the previously mentioned assets.

A recent Santiment analysis revealed some similarities amongst the price actions of these memecoins, noting LUNC’s rise using metrics such as social presence and price movements, giving it the title of “meme king crown.”

The analysis from Santiment notes that LUNC has recently assumed social dominance in the space, as interest in the asset surged rapidly, judging by the increase in LUNC-related terms on social platforms. At the time of the Santiment report, LUNC-related terms took 1st and 8th positions in assessing social trends.

This feat highlights the crypto community’s attention on LUNC, as it shows signs of an auspicious comeback. Terra Classic’s recent riposte to the bears is partly fueled by the community’s commitment to resurrecting the asset. As this renewing campaign gathers momentum, LUNC’s price action sees a positive boost, which pumps more interest into the token.

The Santiment analysis also highlights that LUNC’s community could see a repetition of a bearish occurrence that has remained a pattern with dominant meme coins.

Like Dogecoin, LUNC could rise to seal its position as the dominant meme coin.

Terra Classic’s current social position could propel the asset to surprising heights if the momentum persists. The Crypto Basic, on Monday, stressed the similarities in price actions and social trends between Dogecoin and LUNC, citing the Santiment analysis. 

Dogecoin’s increase in bullish social outlook contributed massively to the asset’s surge to the ATH of $0.73 in May of 2021. Billionaire and CEO of Tesla, Elon Musk’s public campaign for the asset on Twitter also conducted to the asset’s social dominance then.

LUNAtics have recently intensified their campaign for LUNC on social platforms, increasing the asset’s publicity. As previously reported, up to 9 exchanges have declared support for the LUNC 1.2% tax burn. This indicates the growing attention the asset is amassing.

According to Santiment, both Luna Classic and Dogecoin enjoyed an initial run-up before encountering flat consolidation. After the consolidation, dogecoin had a massive rally starting the main craze.

The social indicators of Santiment show a similar picture for LUNC; a true mania for Terra classic is pending that may come after the current consolidation.

Despite the recent hurdle faced that has halted the asset’s rally, LUNC has managed to keep its head above the $0.00025 level. LUNC currently trades at $0.0002855 as of press time which is a 194% increase from the $0.000095 value the asset had exactly a month ago.

LUNC is showing signs of another increase, having gained by 9.66% in the past 24 hours despite the bearish atmosphere. Another rally from LUNC could support its journey to solidifying its position as the king meme coin.

How Exactly Will Web3 Change the Internet?

Andrew MacGill
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How Exactly Will Web3 Change the Internet?

The internet has changed a lot in the past 20 years. While social media and other massive interconnected spaces are now common, they were once fairly unheard of. One change that’s definitely shaken up the world, even beyond the internet, is the development of tech companies that now rule much of the internet space.

While Web 2 as we currently know it has a range of benefits, it’s also incredibly entrenched in capitalist ideals. The for-profit format of the internet has turned every user into little more than a source of continual data, with farming from Facebook and other tech businesses expanding across the entire internet.

With the power that governments and large tech conglomerates have, censorship is also incredibly common on Web 2. With the need to make a profit at the heart of most internet endeavors, people must play by the rules of the government jurisdiction they fall under, or the tech company’s platform they’re using.

Due to how the Web 2 internet works, users can easily be tracked with IP addresses, meaning that censored content can always be traced back to certain individuals. With this level of surveillance and compliance, people want a change.

This desire, combined with the expansion and rapid development of blockchain technology, has led to Web 3 quickly coming into the light as a future potential. Web 3 is a new iteration of the internet that places a focus on community-driven content and individual ownership.

In this article, we’ll dive into the Web 3 internet that is projected for the future, demonstrating what core ideals this system holds, as well as how blockchain technology will liberate individuals from the complete influence of tech companies and governments.

What are the Fundamentals of Web3?

The blockchain technology that powers Web 3 provides it a unique set of fundamental structures to rely on. With this decentralized approach, Web 3 doesn’t have to base itself on technology created by tech platforms or governments. The addition of decentralized nodes ensures that Web 3 is completely detached from the world of Web 2, giving it a fresh start to build as it pleases.

With this in mind, Web 3 offers a range of new fundamentals:

  • Individual Ownership – instead of everything being owned by tech companies, individuals have complete ownership of the content they create. Think of social media platforms where you actually own the photos you post or posts you create, thanks to NFT tech.
  • Anonymous – Decentralization allows people to avoid censorship and achieve true anonymity online, if they’d like to.
  • 3D applications – The Metaverse and other 3D applications will bring the internet into a digital sphere.

While this is not an extensive list, they represent the core of Web 3. Web 3 pushes for community involvement, gives power back to the people, and provides a truly decentralized space in which people can create and host content however they would like.

With over $1 trillion dollars currently in blockchain technology, this system has all the financial backing it needs to flourish – and fast.

How Does This Give Power Back To The People?

On Web 3, users are able to use decentralized cloud services like Tomi to get their very own web domains. These domain name systems (DNS) will work almost equally to Web 2, with the additional influence of blockchain technology. Each IP address (internet protocol) that accompanies the domain will be a human-readable address.

Instead of a long string of numbers that IP addresses currently use, Web 3 will use NFT tech to control domains more precisely. As each NFT is impossible to duplicate, this would allow each site to be completely unique. Highly-valuable domains would be traded on the market, with users being able to mint free ones in their own name.

Web 3 domains would slightly differ in terms of what .coms they use. While .net, .co, and .com are the main domains within Web 2, Web 3 would use .dao, .crypto, and .eth – as general examples. As these systems are completely decentralized, Web 3 takes power away from larger tech giants that currently have near total control of Web 2.

Embracing this alternative style of creating an expansive and interconnected website ensures that people have more control over their own websites. A company like tomi allows individuals to get access to a range of uncensored websites, with the control fully falling to them.

With this, they can host whatever they want online, free of the stringent censorship rules that are set in place by tech conglomerates. A community that’s driven by individuals in the form of a decentralized autonomous organization provides a fairer way of constructing the internet. Equally, as this is a decentralized system that’s accessed through connecting to nodes, there is no fixed IP address to track people with.

This means that, if one wanted, they could achieve a level of anonymity that is simply not possible at current with Web 2.

Instead of a few key players having control over the internet, the system that tomi and other Web 3 internet providers pose is driven by the individual. This fairer, more community-based system will liberate users from the control and censorship that’s common in Web 2.

Final Thoughts

As Web 3 continues to develop and become a more realized iteration of the internet, we’re likely to see even more news about its achievements. With companies like tomi heading up the charge, Web 3 is actively building a system that puts the individual first. Taking power away from large tech companies and giving it to communities, Web 3 promises to be an exciting new time in the internet’s lifecycle.

Moving away from the traceable and fixed style of previous IP and DNS internet functioning, this totally decentralized system will allow individuals to rapidly create new sites based on NFT technology. With total control over their website, individuals will become empowered, with Web 3 signaling a turning point for the internet.

We can’t wait to see just how far Web 3 will go to change the current dynamic of the internet.

Klaytn’s Market Clout Continues To Grow As Its Mainstream Use Cases Mount

Andrew MacGill
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Klaytn’s Market Clout Continues To Grow As Its Mainstream Use Cases Mount

As the crypto industry has grown and evolved, one sector that continues the pique the interest of investors globally is the decentralized finance (DeFi) market. This is best highlighted by the fact that even though a severe bear market has gripped the digital asset industry over the last eight odd months, the total value locked (TVL) within the DeFi landscape has risen from approx $16B to around $60B since Q1 2021, thereby representing a growth of over 350%.

Furthermore, despite the pervading weak macroeconomic conditions, numerous research studies claim that the DeFi market is set to reach a combined valuation of $507.92 Billion by 2028, growing at a CAGR of 44%. This is largely because DeFi platforms help eliminate the need for financial intermediaries and middlemen — including banks, brokers, etc. — thus allowing users to access a high level of transparency and monetary autonomy.

One network that has helped drive this growth is Klatyn, an enterprise-ready blockchain that offers extremely high throughput rates (of approx. 4,000 TPS), low latency, near-instant finality, and customizable Service Chains. The ecosystem has been adopted by many noteworthy entities, including the Bank of Korea alongside several South Korean gaming companies.

Why Klaytn?

From the outside looking in, Klaytn is designed to help resolve several bottlenecks/critical barriers affecting a whole host of Web3 and metaverse projects today, including low throughput, high peripheral gas costs, and poorly designed user interfaces. Thanks to its multifaceted blockchain infrastructure, Klaytn delivers clients with end-to-end integration, including a built-in layer-2 solution.

Due to its novel design, the blockchain can integrate several side-chains associated with domains, such as the metaverse, Web3, DeFi, gaming, etc., without compromising on its core fundamentals of speed, scalability, and cost-effectiveness. Furthermore, Klaytn offers immediate transaction settlements, with a block time of just 1 second while harnessing the power of over 50 consensus nodes participating in its validation process.

Numbers-wise, a report released recently by crypto intelligence firm Messari suggests that Klaytn’s network activity surged dramatically between Q4’21 to the end of Q1’22, with the project’s active user base spiking exponentially in comparison to other blockchains. During this time, Klaytn’s total value locked rose as high as $4.75B, ushering its native cryptocurrency (KLAY) into the top 40 digital assets by market capitalization.

According to DeFi Llama, the Klaytn network currently houses $360M across its various associated DeFi protocols, ranking it 14th among all chains. This decrease in funds can, in large, part be attributed to the macroeconomic conditions pervading the global economy as well as the downfall of several crypto projects, including Terra, Celsius, Babel Finance, Vauld, etc, over the last few months. Despite the bearish market conditions, the volume of KLAY locked within the DeFi ecosystem has increased by 73% year-to-date (YTD), thereby showcasing the project’s impressive growth and resiliency.

A closer look at what Klaytn has to offer

Thanks to its unique digital framework, the project currently houses several unique projects that have helped its utility grow even further. Klap (Klaytn Lending Application) is one such offering. It is a decentralized non-custodial liquidity market protocol designed atop the Klaytn blockchain.

It allows users to deposit and borrow funds seamlessly, with depositors providing liquidity to the market to earn passive income. At the same time, borrowers can acquire loans in an over-collateralized (perpetually) or under-collateralized (one-block liquidity) fashion. As per the aforementioned Messari report:

“Klap is Klaytn’s leading overcollateralized lending protocol, with around $18 million TVL not including the $18 million amount of borrows. Klap originated as an Aave fork, but it also blends together many other protocols like Solidly (veNFTs), Platypus (yield boosters), Curve (voting escrow governance), and Geist (penalties for mercenary capital).”

Klap recently launched its native token designed to facilitate a wide range of use cases within the protocol’s growing ecosystem. Since its market inception — earlier in May — the platform’s total value locked (TVL) has surpassed the $100M mark, making Klap the second most popular dApp within the Klaytn ecosystem. Furthermore, the project has raised $4M in a pre-seed round in June led by many mainstream entities, including Quantstamp, Ascentive Assets, ROK Capital, Manifold, Krust, and Novis.

Lastly, by harnessing the power of Klaytn’s technical architecture enabling high TPS, fast finality, and cheap transactions, Klap seems primed to help serve the fast-expanding DeFi market, allowing it to scale for mass retail adoption.

Looking ahead toward a brighter future

Thanks to its use of an IBFT-based consensus mechanism, multi-channel propagation, and customizable Service Chains, the Klaytn network seems to have enjoyed widespread adoption among many mainstream enterprises. That said, in recent months, the project is beginning to target retail participants, primarily within the blockchain gaming sector. Lastly, the Klaytn Governance Council now has 35 members, most of whom are integrating/building their crypto products on the Klaytn Mainnet or one of its Service Chains. Therefore, as we head into an increasingly decentralized future, it will be interesting to see how things pan out for the project.

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