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TrustToken StableCoin TrueUSD (TUSD) Live On TRON Network

Albert Brown
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TrustToken StableCoin TrueUSD (TUSD) Live On TRON Network

TrueUSD (TUSD) has started using Tron blockchain for generating TUSD, because of Tron advantage of low transaction fees. Tron currently has 26.6% share in the stablecoin market.

TrueUSD, operated and owned by TrustToken, started producing TUSD stablecoin on the TRON network. Before Tron, TUSD was using Ethereum, Binance Smart Chain and Avalanche blockchains. Trust Token team was extremely concerned about high fees on Ethereum, said that Tron could fix these high costs.


Justin Sun considered Trust Token team act as “wise decision”. Two days ago Justin sun welcome TUSD to join Tron Family, And now the stable coin is live on Tron blockchain.

 

TrueUSD stable coin is pledged with US Dollar with one-to-one ratio. High transaction fees and network blockages on Ethereum have become a problem for people trying to make small and medium-sized transactions with TUSD, according to a statement by TrueUSD.

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In order to solve this problem, at one hand, the TrustToken management evaluated ETH Layer 2 technologies, on the other hand, decided to turn to alternatives such as TRON.

Stablecoins will continue to play an important role in the CRYPTOCURRENCY MARKET, said Justin Sun, founder of Tron and CEO of BitTorrent. Producing TUSD on TRON network is a wise decision.

According to CoinGecko data, TrueUSD has a market capitalization of $308 million, whereas the market value of USDT, the stable coin market leader, is $43.9 billion.

MTLX Airdrop Coming For FET Holders On Binance

Mark Brennan
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MTLX Airdrop Coming For FET Holders On Binance

Binance the leading crypto exchange of the world has announced support for MTLX token Airdrop to FET holders. Users must have at least 10,000 FET tokens in their Binance accounts to participate in the Airdrop.


The Mettalex (MTLX) airdrop event on the Binance exchange will last for 50 days. Starting from April June 13 and ending on June 1, weekly snapshots will be taken at 11.59 PM, UTC time. Token distribution will take place at the end of airdrop.

 

Who can get MTLX?

During the Snapshot, FET tokens owned by users must be present in spot wallets, margin accounts, or savings accounts. Users also must keep an average of at least 10,000 FET tokens in their wallets throughout the airdrop.

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Airdrop Details

  • The MTLX Airdrop will be held over a period of 50 days — starting at 11:59 PM UTC on April 13, 2021, and ending at 11:59 PM UTC on June 1, 2021.
  • Every 10,000 FET tokens will earn 1 MTLX token. For example, those with 250,000 FET tokens during the 50-day event will be able to receive 25 MTLX.
  •  Snapshots will be performed weekly.
  • The number of MTLX tokens to be distributed depends on the number of FET tokens held in Binance users’ accounts.
  • The MTLX tokens will become available in the users’ Binance accounts after the end of the Airdrop.

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Read More Details of MTLX airdrop on: https://mettalex.com/mtlx-airdrop-for-fet-holders-on-binance/

Coinbase Became A Member Of The Chicago Defi Alliance

Mark Brennan
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Coinbase Became A Member Of The Chicago Defi Alliance

Crypto exchange Coinbase has announced that it has joined the Chicago DeFi Alliance (CDA) to interact with decentralized finance (DeFi) projects.


The CDA Alliance was established in April 2020 to provide funding for startups developing in the DeFi field.

 

DeFi Alliance is led by employees of financial firms and cryptocurrency platforms, including Imran Khan co-founder of Volt Capital, Colleen Sullivan CEO of CMT Digital, Robert Leshner founder of Compound, and Stani Kulechov head of Aave.

Coinbase CEO Brian Armstrong said that one of the priority tasks of the exchange after joining CDA is to provide wider access to DeFi applications. Chicago DeFi Alliance partner Jacob Franek said that Coinbase has become one of the exchanges that have influenced the spread of cryptocurrencies around the world.

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The alliance’s mission is to create an open financial system, and DeFi can play a significant role in this. CDA is open to cooperation with all interested parties who are ready to support young projects working in the DeFi industry.

Recall that last year, Coinbase introduced a price oracle to ensure the security of digital assets locked in  DeFi protocols.

VeChain Decides To Reduce Transaction Fees

Mark Brennan
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VeChain Decides To Reduce Transaction Fees

The VeChain community decided to lower its transaction fees as a result of a voting that began few days ago. Base transaction fee paid by users will reduce to 1e13 Wei within 7 days.


The VeChain Foundation says the cost of using the VeChainThor network has increased 24-times since the beginning of this year. Single transaction cost on January 1 were $0.291, which rose to $7.009 on March 30.

Committee decides to cut transaction fee.

Vechain Foundation held voting to reduce transaction fees, starting on March 30 and ending on April 6.

71.08% of community members voted to reduce 1% of gas fees.

The voting results was then transferred to the Steering Committee for final verdict. According to Thursday’s announcement, 5 of the 7 committee members voted in favor of lowering the transaction fee. VeChain will draw base gas fee to 1e13 Wei in the next 7 days.

The Foundation said it was necessary to reduce gas fees as high transaction fees slow down community interest in Vechain especially large enterprises like Governments, Business etc.

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Now low fees will reduce the cost of using blockchain, gain users interest and increase demand of Vechain.

VET has gained 6% over the past 24 hours and is trading at $0.12, according to CoinGecko data.

Increasing Use OF RippleNet As Ripple Partnered with Australia Leading Payment Company Novatti For Cross Border Payments

Mark Brennan
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Increasing Use OF RippleNet As Ripple Partnered with Australia Leading Payment Company Novatti For Cross Border Payments

Novatti, Australia major payment company announced use of RippleNet.

Novatti announced that they will connect RippleNet with Iremit, a payment giant in the Philippines, enabling fast, low-cost international remittances from Australia to Southeast Asia, mainly in the Philippines.


The company said the money transfer channels between the Philippines and Australia lead to thousands of Dollars transactions costs per month. Avoiding these high costs, fast and smooth cross border payments is the main objective of Ripple and Novatti partnership.

Novatti announced that it will continue to expand its financial service business in Southeast Asia.

Managing Director of Novatti, Peter Cook, said:

“We are delighted to see this partnership delivering for both
Novatti and Ripple in such a short period of time. The partnership with Ripple not only provides Novatti’s customers with access to new, innovative payment solutions, it also highlights how Novatti’s partnerships translate into revenue.”

He said Further:

“Forming our partnership with Ripple was part of Novatti’s broader strategy to develop a banking and payments ecosystem that enables our existing platforms to scale quickly. In addition to Ripple, Novatti’s ecosystem now includes partnerships with world-leading PAYMENT and fintech companies including Visa, Apple Pay, Alipay, UnionPay International, Google Pay, Samsung Pay, Marqeta, and Decta.”

Novatti has filed an application with the Australian Patent Office for a secure, regulatory compliant, multi-cryptocurrency payment gateway. Novatti did not provide specific details, but Cook described it as a system that allows merchants to receive payments in fiat currency through digital wallets, and cryptocurrency exchanges.

Ripple Focus on Southeast Asia

In 2021, Ripple is strengthening its RippleNet base in Southeast Asia. With a view of business expansion in Southeast Asia, Ripple appointed Mr. Brooks Entwistle as as managing director with work experience in Goldman Sachs.

Read More: Ripple Attracts Former Uber and Goldman Sachs Top Level Executive

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At the end of March, Ripple announced that it acquired 40% stake in Tranglo, a payment settlement company that provides an international remittance network mainly in Southeast Asia.

Read: Ripple Acquire Malaysia-based Tranglo To Expand RippleNet to South East Asia

Ripple also reported in its 2020 Q4 report that RippleNet’s trading volume in Southeast Asia was 10 times the previous year, and that the market was growing rapidly.

Four Altcoin That Rise With Coinbase Listing

Mark Brennan
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Four Altcoin That Rise With Coinbase Listing

Coinbase Pro announced that it will add four new cryptocurrencies to their platform, 1inch (1inch), Enjin Coin (ENJ), NKN (NKN) and Origin Token (OGN).


In a recent blog post, Coinbase Pro announced that users will be able to transfer 1inch, Enj, NKN and Origin token to their accounts for trading. Trading will start on April 9, if the liquidity conditions are met.

Trading will begin for 1INCH, ENJ, NKN and OGN as soon as there is enough supply for these altcoins. Trading pairs of these coins will be against Bitcoin, US dollar, Euro and the British pound. The order books are expected to open in three phases: post-only, limit-only and full trading.

Coinbase Said:

We will publish tweets from our Coinbase Pro Twitter account as each order book moves through the phases.

Coinbase adding a lot of tokens.

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Coinbase is suddenly adding tons of tokens as they are approaching near Nasdaq listing. Just a few weeks ago, the US exchange added Cardano (ADA), ANKR, CRV and STORJ.

Read Details: Coinbase To List On Nasdaq On April 14 With Expected Starting Share Price At $300-350

With listing announcement, the 1inch, Enjin Coin, NKN and Origin Token prices are rising sharply. At the time of writing, the price of each token was up more than 30 percent.

RippleX And XRP Ledger Launched xrpl-py

Mark Brennan
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RippleX And XRP Ledger Launched xrpl-py

XRP Ledger (XRPL), a distributed ledger of crypto asset XRP (Ripple), has announced the launch of xrpl-py, a Python implementation for interacting with the XRP Ledger.


“xrpl-py” is a compilation of programs for developers using Python. The tool makes it easier for developers to incorporate XRP ledger into their products. Python is a programming language used by many programmers and developers, so the use case for XRP ledger is expected to expand.

Until now, XRP ledger provided tools for 2 programming languages, mainly JavaScript and Java. Python developers had to either switch to a less familiar language or rely on libraries whose shelf life was unclear, but now xrpl-py can be used, enabling Python developers easy-to-use library.

xrpl-py is called a library and is a collection of versatile programs. The feature that is made so that even developers who are still learning the codes can take advantage of xrpl-py.

The xrpl-py library offers a range of features including:

  • Serializing, signing, and submitting transactions.
  • Model objects for all transaction types and all core server requests.
  • Converting between X-Addresses and classic addresses.
  • Cryptographic key generation.
  • Retrieving account information, including balances.

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The XRPL Team Said:

The feature set for the first available version is limited but it implements the most common use cases of XRP Ledger development. We’re working on adding new features to xrpl-py and aim to include everything else the XRP Ledger offers within the library soon. We plan on using this framework to create even more libraries for the XRP Ledger in other languages in the near future.

To get started, see tutorial on xrpl.org.

Cryptocurrency Inflows At All-Time High In First-Quarter Reaching $4.5 Billion

Albert Brown
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Cryptocurrency Inflows At All-Time High In First-Quarter Reaching $4.5 Billion

Investments in cryptocurrency funds and products reached $4.5 billion in the first quarter of 2021, indicating a continued increase in investment by institutional investors.

According to a report by Coinshares published on Reuters, investments in cryptocurrency funds and products increased by 11% from $3.9 billion last quarter to $4.5 billion in the first three months of this year.


However the growth of investment in cryptocurrencies in the first quarter of 2021 slowed down compared to the fourth quarter of the last year. The fourth quarter of 2020, investments in the cryptocurrency sector increased by 240% compared to the third quarter of 2020.

Coinshares Said:

“indicative of a broader slowing trend, as quarterly growth rates tend to be highly varied.”

At the beginning of this week, cryptocurrency market capitalization broke the $2 trillion mark, and the market capitalization of Bitcoin went above $1 trillion.

The largest inflow of investments in the first quarter was in BTC – $3.5 billion, followed by ETH with $765 million.

The volume of crypto assets under management also rose to a new high of $59 billion. Last year, this figure was $37.6 billion.

Of the $59 billion in assets under management, active investment managers represented just 1.5% of total assets under management, down from 3.6% at the start of the fourth quarter last year.

Grayscale is still the largest crypto asset manager with $46.1 billion under management. CoinShares, Europe’s second-largest digital asset manager, controls about $5.1 billion worth of crypto assets.

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At the end of March, CoinShares presented a weekly report on investments of financial institutions in cryptocurrency products, noting that new investments of institutional investors in Bitcoin fell to the level of October 2020.

The cryptocurrencies volatility is often cited as one of the reasons why Wall Street investors shy away from investing in Bitcoin. However, JPMorgan analysts believe that the indicator will normalize and attract more institutional investors.

 

Decentralized Finance Protocol Balancer Coming On Algorand Blockchain

Mark Brennan
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Decentralized Finance Protocol Balancer Coming On Algorand Blockchain

The developers of the popular decentralized finance protocol Balancer plan to launch their project on the Algorand blockchain. The launch is scheduled for the third quarter of 2021.


Reach project will develop the Balancer version for the Algorand blockchain. Once launched, the Balancer protocol will allow users to create liquidity pools of ASA Standard (Algorand Standard Asset).

Jeremy Musighi, head of development at Balancer Labs said:

“We are pleased to support the Algorand and Reach teams with the help of the Balancer Ecosystem Fund. We will carefully monitor the work of the new implementation of our protocol, which, hopefully, will become a new source of liquidity for the Algorand ecosystem,”

Reach Tweeted:

 

Interestingly, Balancer Labs itself will not participate in the development of the implementation of the protocol based on Algorand.

In a message on the social network Twitter, it is said that Balancer Labs are busy with the Ethereum ecosystem and the upcoming launch of the second version of the Balancer protocol.

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At the moment, Balancer is the fifth largest decentralized exchange in terms of trading volume.

In March 2021, the trading volume in the Balancer exceeded $2billion, and the total trading volume on Defi platforms reached  $60.67 billion.

In October last year, it was reported that the Balancer protocol will be launched on the NEAR blockchain.

Ontology DeFi Lending Platform Wing Launched On Ethereum

Mark Brennan
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0
Ontology DeFi Lending Platform Wing Launched On Ethereum

Wing, the credit-based cross-chain DeFi lending platform developed by Ontology, the public blockchain specializing in decentralized identity and data, is now live on Ethereum.

Launched on the Ontology blockchain in September 2020, Wing has seen monumental growth in both the total value locked, which now stands at over $200m, as well as in levels of lending and borrowing activity between users.


Following its integration with Ethereum, millions of global DeFi users will now have access to Wing’s unique lending, borrowing, and insuring options, including the option to swap assets into pegged assets on the Ontology blockchain where they can find lower transaction fees and higher processing speeds.

Wing is designed to promote a mutually beneficial relationship between borrowers, creditors, and guarantors through a decentralized governance model and risk control mechanism.

Li Jun, Founder of Ontology, said,

“In utilizing Ontology’s decentralized credit-scoring system, OScore, and decentralized identity protocol ONT ID, Wing enjoys easy identity verification and a full picture of an individual’s financial history, without showing the full value of these assets. We have deliberately designed OScore for this kind of application: both the individual’s privacy is protected, while risk for lenders is vastly reduced and correct due diligence can take place. Through this next-generation suite of innovative DeFi tools and products, individuals who obtain a high OScore will be able to maximize their borrowing capabilities and minimize their collateralization in the Inclusive Pool at Wing’s Ontology version.”

Ontology’s ONTO wallet also supports Wing on mobile. Wing has also been integrated into ONTO Web, a multi-chain identity extension wallet for Google Chrome that also supports diversified assets and decentralized applications from public chains such as Ethereum, Ontology and Binance Smart Chain.

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The news follows announcements that Wing would sponsor the launch of two new Ethereum-based Chainlink Price Feeds, WING/USD and ONT/USD, and a partnership with SushiSwap which saw the addition of pWING-pONT and pWING-ETH into the SushiSwap Onsen liquidity program.

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