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Crypto yield farming app SpaceSwap set to launch

The SpaceSwap DeFi protocol is set to be released on September 10th to offer crypto liquidity providers a new profitable form of yield farming and unite all major DeFi protocols via an all-in-one SpaceSwap Station. SpaceSwap decentralized finance protocol provides an innovative approach to cryptocurrency yield farming. Aiming to become the first DeFi service aggregator, […]

CryptoNinjas » Crypto yield farming app SpaceSwap set to launch

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The SpaceSwap DeFi protocol is set to be released on September 10th to offer crypto liquidity providers a new profitable form of yield farming and unite all major DeFi protocols via an all-in-one SpaceSwap Station.

SpaceSwap decentralized finance protocol provides an innovative approach to cryptocurrency yield farming. Aiming to become the first DeFi service aggregator, it promises to outperform leading DeFi platforms such as Uniswap and Curve. The project is going to be launched in 7 days and will offer early investors new opportunities for passive income; aside from deposit interest rates, they will earn Milky Way (MILK) tokens. SpaceSwap provides a wide range of liquidity pools, easy token transition, and extra perks for early investors.

“SpaceSwap is not just about yield farming – it will revolutionize the DeFi industry by providing a fair and profitable protocol for efficient crypto liquidity management. Leading platforms like Uniswap generate earnings only while users keep their assets in liquidity pools. It’s high time to change the rules of this game – SpaceSwap LP’s will earn MILK tokens on top of APY rates and benefit from ALL DeFi Protocols altogether,” said the SpaceSwap development team.

What is SpaceSwap?

SpaceSwap is a DeFi protocol that connects users to a multitude of liquidity pools and provides MILK governance tokens as a means of incentivization. The platform rewards liquidity providers with a portion of the transaction fees and pays the corresponding amount of MILK tokens on the top of that. SpaceSwap represents a new generation of yield farming services by enabling easy token transition and distribution over third-party liquidity pools.

The project is being launched on 10th September. It will start with the Uniswap protocol improvement first, with Curve, Compound, Yearn, and other protocols added in Q4 2020. According to the roadmap, SpaceSwap will turn into a DeFi superstructure covering major DeFi protocols in one place.

SpaceSwap DeFi protocol gives liquidity providers additional means of profit-making. While conventional protocols are designed to bring liquidity providers loan interest only, SpaceSwap takes it a step further by introducing a new scheme of yield farming. Aside from the high APY rates, users will enjoy additional incentives in the form of MILK tokens. Thus, their passive income isn’t restricted by the deposit period.

Exceeding the technical possibilities of Uniswap and protocols alike, SpaceSwap enables cross-platform token transition. It allows users to move their liquidity tokens from one pool to another so that they can move their current deposits to SpaceSwap pools with minimal transaction fees. Project developers promise to provide a wide range of various liquidity pools for DeFi & CeFi protocols – Oracles, lending protocols, synthetic assets, and so on.

So far, the native MILK token is designed to perform purely governmental functions – it will enable users to vote and choose eligible liquidity pools. The developers don’t exclude the possibility of MILK trading and exchange, which will bring users extra options for earning.

So far, early investors have already claimed the liquidity – it will be distributed over pools after the opening. With one week left until the official launch, white-listing is finishing soon. Early contributors will get privileges and premium account status with extra perks and MILK tokens.

Via: spaceswap.app

Source: https://www.cryptoninjas.net/2020/09/04/crypto-yield-farming-app-spaceswap-set-to-launch/

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Ripple’s Garlinghouse to File Dismissal Motion Against the SEC Lawsuit Over XRP Sales

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Ripple’s Garlinghouse to File Dismissal Motion Against the SEC Lawsuit Over XRP Sales

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The CEO of Ripple, Brad Garlinghouse is filing for a motion to dismiss the SEC lawsuit against himself and Ripple. This is according to a copy of a letter written by Garlinghouse’s lawyer stating that he intends to file a dismissal motion for the case.

The letter claims that the case was nothing but a regulatory overreach as the company’s sale of XRP did not involve any contract and the proceeds were not pooled with other buyers in a common enterprise. Its price also fluctuates in line with other digital assets such as Bitcoin and Ethereum.

“But Mr. Garlinghouse’s XRP sales involved no contract of any kind with the buyers, as his sales were done anonymously over an exchange. Nor were the proceeds of Mr. Garlinghouse’s sales pooled with other buyers in a common enterprise. And XRP’s value historically has not been correlated with Ripple’s actions, results, or public announcements, but instead with changes in the value of other digital assets, such as bitcoin and ether, that the SEC has publicly declared are not securities”, the letter read.

Ripple and its top executives have been in court since the SEC filed a lawsuit against them alleging that they illegally sold a security (XRP) and made profits of over $1 billion. Garlinghouse has however maintained his position that XRP is not a security.

This could be because other countries such as the UK hold XRP in high regard. Garlinghouse had last year indicated his intention to move Ripple headquarters over to the UK before the SEC lawsuit. In early February of this year, the company filed a defense for the suit which has led to a few more lawsuits.

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In 2015 and 2020, both the Department of Justice and the Department of Treasury’s Financial Crimes Enforcement Network (“FinCEN”) declared XRP to be a “virtual currency”. The two departments even asked Ripple to implement anti-laundering in place, a requirement that Ripple claims securities are not expected to meet.

The outcome of Ripple’s case with the SEC could be a big determinant of future regulations in the cryptocurrency industry and the entire space awaits the outcome.


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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.

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Source: https://zycrypto.com/ripples-garlinghouse-to-file-dismissal-motion-against-the-sec-lawsuit-over-xrp-sales/

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Crypto fund KR1 makes investment in blockchain data protocol LazyLedger

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KR1, a crypto & blockchain asset investment company, had announced that it has invested a total of USD $75,000 into Strange Loop Labs AG, doing business as LazyLedger Labs.

The investment company took part in LazyLedger’s seed funding round alongside Cosmos’ Interchain Foundation, Binance, Dokia Capital,  Maven 11, and other investors.

LazyLedger is a pluggable consensus and data availability layer to enable anyone to quickly deploy a decentralized blockchain; without the overhead of bootstrapping a new consensus network.

“LazyLedger is a great project and an opportunity to bring better data availability to blockchains; which reduces bloat and increases performance. We believe that LazyLedger is going to play a big role in the next generation of scalable blockchain architectures.”
– Keld van Schreven, Managing Director and Co-Founder of KR1

LazyLedger’s founding team are highly respected decentralized systems engineers and researchers; who were part of the founding team of Chainspace, a blockchain project acquired by Facebook, as well as contributors to Ethereum 2.0 and Cosmos’ Tendermint.

“I’m excited about KR1 supporting LazyLedger as they have been around from day one and the experience they bring is invaluable as one of the oldest funds in the crypto space.”
– Mustafa Al-Bassam, Co-Founder of LazyLedger

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Source: https://www.cryptoninjas.net/2021/03/04/crypto-fund-kr1-makes-investment-in-blockchain-data-protocol-lazyledger/

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DeFi yield optimization protocol ETHA Lend closes $1.6M funding round

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ETHA Lend, a yield optimizer protocol for DeFi, today announced it has closed a $1.6 million initial funding round from lead investors Digital Finance Group (DFG), AU21 Capital, and Privcode Capital.

Other investors include: Vector Capital, Chain Capital, PNYX Venture, Lancer Capital, Oasis Capital, TRG Capital, Candaq Capital, Dealean Capital, Inclusion Capital, Origin Capital, ZB Capital, YBB Foundation, AC Capital, Hotbit.

Designed to provide automated yield allocation across Ethereum and Polkadot DeFi ecosystems; ETHA Lend will be governed by ETHA token holders. The protocol’s algorithm is constructed to understand the precise circumstances of a liquidity provider and supply events; protecting users from high transaction costs, market limitations, and asset volatility.

 “We are excited to have some of the most reputable names in the crypto investment and DeFi funding market on board. Our protocol hosts unique integrations of the DeFi space that shall let users dabble with yield farming with unseen simplicity, cross-chain independence, and progressive yield optimization opportunities. You can look forward to a time when the sector shall be free of the haunting tribalism and intimidations both for new and expert users.”
– Chester Bella, Founder of ETHA LEND

The close of this funding round will enable ETHA Lend to accelerate development towards its mainnet launch, currently scheduled for Q2 2021. ETHA Lend’s smart contracts are being inspected by Certik; one of the most highly reputed blockchain security auditors.

Source: ethalend.org

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Source: https://www.cryptoninjas.net/2021/03/04/defi-yield-optimization-protocol-etha-lend-closes-1-6m-funding-round/

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