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Big Data Protocol Staking Surges Over $6 Billion in Latest DeFi Frenzy

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Boasting three and four-digit annual percentage yields, Big Data Protocol (BDP) has become the latest DeFi frenzy as total liquidity on the protocol has skyrocketed to $6.1 billion just two days after liquidity mining incentives were launched.

The protocol announced its fair launch on March 6 where 100% of the initial circulating supply, which is 30% of the total of its BDP token, will be distributed to the community over six days. It is backed by a team of technologists, crypto investors, and data scientists and designed to incentivize liquidity mining over the long term.

There are liquidity pools for twelve different DeFi assets and they have attracted a lot of collateral in just two days.

Big Returns for DeFi Stakers

Over a million ETH has been deposited in the wrapped Ethereum pool according to the BDP data vault, earning an APY of 40%. Almost 17,000 BTC is currently in the wBTC pool earning 82% APY while the Tether vault has gained 728 million USDT earning 96%.

The top earning pools are boasting four digit returns with OCEAN at 1,375% and TOMOE at 1,315% at the time of writing.

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A blog post explaining the tokenomics elaborated:

“Users provide liquidity to earn bALPHA over the course of 3 months. Subsequent data tokens, named bBETA and bGAMMA, will launch after bALPHA, which will further incentivize liquidity.”

A portion of BDP and data tokens are burnt as the usage of the Protocol and marketplace grows over time, it added.

The total supply of 80 million tokens will be divided as follows: 30% distributed in the initial six day yield farming incentive, 35% allocated to future staking rewards, 25% held as an ecosystem reserve, and 10% to the team and advisors.

The bALPHA data token will have a total supply of just 18,000 tokens which will all be allocated to liquidity mining rewards. Two more data token sets, bBETA and bGAMMA, will be announced in due course the blog post added.

BDP Price Update

At the time of writing, BDP was trading at $5.85, falling 19% on the day after hitting a peak of just over $14 on Sunday, March 7.

The bALPHA price is a little over $10,000 per token after skyrocketing to over $40,000 at the weekend according to Coingecko.

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Source: https://cryptopotato.com/big-data-protocol-staking-surges-over-6-billion-in-latest-defi-frenzy/

Blockchain

MicroStrategy Directors Now Receive Board Fees in Bitcoin

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MicroStrategy, a publicly-listed company spearheaded by Michael Saylor, who’s arguably one of Bitcoin’s biggest proponents, will now pay the board fees to its non-employee directors in bitcoin.

  • According to a new filing with the United States Securities and Exchange Commission (SEC), MicroStrategy has modified the compensation arrangements for non-employee directors.
  • Per the document, they will “receive all fees for their service on the Company’s Board in bitcoin instead of cash.”
  • Going even further, the filing reads that “in approving bitcoin as a form of compensation for Board service, the Board cited its commitment to bitcoin given its ability to serve as a store of value, supported by a robust and public open-source architecture, untethered to sovereign monetary policy.”
  • As to the technicalities of the payments, the amount of the compensation payable to each non-employee director will remain unchanged and nominally denominated in USD. However, at the time of payment, the fees will be converted from USD into bitcoin using a payment processor and deposited to the wallets of the applicable non-employee directors.
  • With this move, the company cements its already bullish stance on Bitcoin and highlights its strong belief in the primary cryptocurrency and the technology that underpins it.
  • The company is also getting closer to owning almost 100,000 bitcoins.
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Source: https://cryptopotato.com/microstrategy-directors-now-receive-board-fees-in-bitcoin/

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ConsenSys-Backed Virtue Poker Closes $5 Million Strategic Investment Round

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Virtue Poker, a project backed by the blockchain mogul ConsenSys, has completed a strategic investment round of $5 million.

Strategic Investment Ahead of Mainnet Launch

The news comes ahead of the mainnet launch, which is scheduled to happen in May 2021.

Virtue Poker is the only blockchain-based company that’s received an official license from the Malta Gaming Authority, Virtue Poker has closed a $5 million strategic investment round led by notable investors ConsenSys, DFG Group, Pantera Capital, and Jez San from FunFair.

In a press release shared with CryptoPotato, the project’s CEO, Ryan Gittleson, said:

“After years of consultation, in-person meetings, and effort, Virtue Poker can proudly say we are the only licensed blockchain-based poker application in the market.”

The project tackles some of the pressing issues that are currently riddling major poker platforms by leveraging the capabilities of distributed ledger technology.


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“Blockchain technology provides modern and secure payment infrastructure that provides global accessibility to consumers, unlike our competitors.

By working with regulators to become a licensed online gambling company, Virtue Poker now has the legitimacy to crossover and compete for customers from legacy providers to bring blockchain-based wagering mainstream.”

The Virtue Poker team, as well as the Malta Gaming Authority (MGA), worked together for more than two years in establishing a regulatory framework that’s suitable for blockchain-based gambling applications. The company is now allowed to operate legally and compete in most global markets to deliver the promise of fair pair playing, as well as transparency to mainstream adoption.

What’s Next?

Next in the pipeline for Virtue Poker is the release of the mainnet, which is scheduled for May 2021. Phil Ivey, the legendary player and member of the Poker Hall of Fame, who’s also a stakeholder in Virtue Poker, said:

“I’ve been working with the Virtue Poker Team for over 3 years,” says Ivey. “Their innovative blockchain platform can be a major part of poker’s future.”

The project is among the first ones to be incubated by ConsenSys – it was founded not much after the debut of Ethereum.

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Source: https://cryptopotato.com/consensys-backed-virtue-poker-closes-5-million-strategic-investment-round/

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Litecoin, Dogecoin, Chiliz Price Analysis: 12 April

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Funding rates for many major altcoins were quite high, prompting that a shakeout to reset funding could occur sometime soon. On the spot trading side, Litecoin and Dogecoin saw heavy demand in the past few days as they flipped crucial levels of resistance to support. Chiliz continued to slide down the charts.

Litecoin [LTC]

Litecoin, Dogecoin, Chiliz Price Analysis: 12 April

Source: LTC/USD on TradingView

On the hourly chart, LTC formed a rising wedge pattern (white) and dipped from $228 to $217 before resuming its move upwards. The $220 area of demand lived up to its name, and the $230 and $244 levels have been flipped to support.

LTC was trading at $256 at the time of writing. The $270 and $287 are levels of overhead resistance.

While the Awesome Oscillator was forced to retreat to the zero lines, on longer timeframes, momentum was strongly bullish.

Dogecoin [DOGE]

Litecoin, Dogecoin, Chiliz Price Analysis: 12 April

Source: DOGE/USDT on TradingView

Dogecoin flipped the $0.062 level from resistance to support a few days ago and has seen strong buying volume since. The RSI reached into overbought territory and pulled back to 66 as DOGE also saw a pullback from $0.075 to test the $0.0716 retracement level.

A deeper retracement to $0.066 is also possible. After this correction, DOGE would likely begin another move toward $0.08, and some extension levels are plotted in gray.

Dropping beneath the 50% retracement level at $0.062 will see DOGE descend toward $0.05 once more.

Chiliz [CHZ]

Litecoin, Dogecoin, Chiliz Price Analysis: 12 April

Source: CHZ/USDT on TradingView

Chiliz was in a steady downtrend since reaching highs at $0.94. CHZ has support at $0.47 and $0.42, and a further drop could see demand step in at $0.37. However, there was no sign that CHZ was ready to begin recovery toward $0.9 again.

The A/D line showed strong, steady selling pressure on CHZ which has forced the coin to trend lower down the charts in recent weeks. It appeared to be only a matter of time before CHZ broke beneath the $0.4 mark.


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Source: https://ambcrypto.com/litecoin-dogecoin-chiliz-price-analysis-12-april

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