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Deepstake Launches Defi Staking Platform With High Yield Returns

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Deepstake Launches Defi Staking Platform With High Yield Returns

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The decentralized finance (DeFi) ecosystem is constantly getting new projects that seek to make the space better for developers and users.

DeepStake Finance, the latest addition, recently launched a staking and yield platform for the DeFi and cryptocurrency space.

The blockchain-based platform seeks to ease most liquid cryptocurrencies’ staking while providing the highest yields for its users. In addition, DeepStake will provide 24 liquidity adjustments for the different pools making it both a sustainable and profitable space for investors.

As per their website, users will use DEST, DeepStake’s native currency, for transactions on the platform. All staking rewards will be distributed using the native token. The developers have dubbed the token as “the vanguard in decentralized finance.” For incentives, the platform is currently offering early investors a 60% bonus on purchases made. This discount will, however, end on April 28 this year.

Notably, DeepStake is still at the beta stage and plans to go public in the next month. Unlike other projects before it, DeepStake developers did not initiate any pre-mine or pre-allocation of tokens to a select group of people. Token circulation will begin at zero. DeepStake has a total of one million DEST tokens.

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DeepStake features and advantages

DeepStake has numerous features, including offering the highest annual proportion yield (APY) reward in the market and has some of the lowest commission. DEST holders will reportedly receive 10 to 30% discounts for driving DEST lending and borrowing functionality. Holders will also receive random bonuses from the platform.

Another advantage is that native holders will have a stake in the decision-making process. Holder will be able to vote on various matters, including cryptocurrency pools to add to the platform.

The platform will host leading virtual currency liquidity pools with numerous cryptocurrencies including, Ethereum, Basic Attention Token, Tether, Curve, Uniswap, and others. 

Another feature to note is that there is a 20% membership fee charge on all DEST staking yields. This fee will reportedly be used for development and sustainability to give the platform on track.

Currently, people can only use the DeepStake website to Purchase the token. Once primary investors get their share, the platform plans on moving DEST purchases to Uniswap.

The future looks promising for this new addition which plans to introduce yield index products to cater to investors’ needs with different risk levels. The platform will also strive to meet the market’s growing needs and change accordingly to serve its ecosystem better.



DISCLAIMER Read More

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/deepstake-launches-defi-staking-platform-with-high-yield-returns/

Blockchain

SWFT Blockchain (SWFTC) is now available on Binance Smart Chain and Huobi ECO Chain

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SWFT Blockchain, a cross-chain cryptocurrency transfer protocol, announced today that the ecosystem’s native token SWFTC is now not only available as an ERC-20 token, but also as a BEP-20 token on Binance Smart Chain (BSC) and as an HRC-20 token on Huobi ECO Chain (HECO).

Details about SWFTC on the respective chains:

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Source: https://www.cryptoninjas.net/2021/04/16/swft-blockchain-swftc-is-now-available-on-binance-smart-chain-and-huobi-eco-chain/

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Blockchain

Our Man in Shanghai: Coinbase listing scorned, graphics cards seized, nostalgia coins rule

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It was a relatively quiet week in China’s blockchain space as events were overshadowed by the surge in the BTC price and the Coinbase direct listing in the U.S. Many locals reacted with surprise to the news, showing that exposure to cryptocurrencies is still relatively isolated in the world’s most populous country.

Many netizens responded skeptically to the Coinbase story, with news aggregation account “Jiemian” on Weibo calling Bitcoin a scam, highlighting its connection to terrorists, and encouraging investors to stick to China’s A-shares. (For a quick comparison, the Shanghai composite index is down 2.13% this year, while Bitcoin has a YTD return of over 116%.) Jiemian has over 10 million followers on Weibo, but caters to a more traditional audience. The takeaway here is that despite China’s aggressive adoption of DCEP (Digital Currency Electronic Payment, also known as the digital yuan), other digital payments, and internet technology, cryptocurrency acceptance remains relatively isolated.

Some experts on China’s blockchain industry spoke to Cointelegraph regarding DCEP on April 10th, discussing how the digital yuan has affected the space. Kevin Shao, co-founder of Bitrise Capital, summed up the situation by stating that “overall, China’s digital currency still serves the central bank’s monetary policy and monetary functions.” It’s safe to say that the rapid DCEP advancement has little cross-over with the country’s active blockchain space, and probably will remain independent for the foreseeable future.

While all that was going on, volumes were spiking on cryptocurrency exchanges around the world. Huobi, China’s largest exchange by liquidity, experienced a wave of trading on more established tokens. The top seven most traded on Thursday were BTC, DOGE, ETH, XRP, FIL, TRX and BCH. All of these projects have roots in previous bull runs, showing that nostalgia is not lost on Chinese investors.

Graphics cards seized by Hong Kong Customs

Customs in Hong Kong have busted a smuggling operation involving nearly 300 graphics cards, which are suspected to be Nvidia CMP 30HX models and worth about 2 million RMB, or $300,000. There were no labels on the front of the graphics cards, and this particular model comes without a video output port, and is built exclusively for cryptocurrency mining. According to a source, this is the first time that Hong Kong Customs has seized graphics cards smuggled for the purpose of mining.

The state of media blockchain content

Finally, in policy news, The State Administration of Radio, Film and Television issued standards for blockchain-related media content. The standard system is intended to promote healthy and sustainable content pertaining to the use of blockchain in industries such as auditing systems, business processes, food safety and management. The State Administration is very proactive with its standards, detailing how technologies, trends, and other themes should be portrayed in the media.

This weekly roundup of news from Mainland China, Taiwan, and Hong Kong attempts to curate the industry’s most important news, including influential projects, changes in the regulatory landscape, and enterprise blockchain integrations.

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Source: https://cointelegraph.com/news/our-man-in-shanghai-coinbase-listing-scorned-graphics-cards-seized-nostalgia-coins-rule

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Blockchain

Rothschild Investment Corp snaps up quarter of a million shares in Grayscale ETH Trust

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Chicago-based financial institution Rothschild Investment Corp, has acquired 265,302 shares in Grayscale’s ETH trust, according to a filing on April 15 with the United States Securities Commission or SEC.

The firm also added more Grayscale Bitcoin trust shares to its holdings, with the latest SEC filing revealing that it increased its tally from 30,454 in January up to 38,346 this month.

Rothschild Investment has been accumulating GBTC since 2017, and the latest filing shows the firm’s appetite for crypto exposure is not slowing down. Ether proponent Ryan Adams, the founder of crypto investment firm Mythos Capital and Bankless, commented on the latest move noting that “BTC is the gateway drug to ETH.”

The brokerage firm’s history spans back to 1908, and it has been investing in crypto for a relatively long time when compared to the mass inflow of institutions who have swooped in during the past 12 months. An SEC filing showed that the firm owned $210,000 worth of GBTC in July 2017, when BTC was priced around $2000.

Founding members Monroe Rothschild and brother in-law Samuel Karger reportedly have no relation to the famed Rothschild family dynasty, much to the confusion of the crypto community despite the New York Times publishing an article that clarified the situation in 1995.

Grayscale is the leading U.S. digital asset manager that offers institutional exposure to crypto, the firm holds roughly 660,000 BTC, which accounts for 3.5% of BTC in circulation.

The firm revealed yesterday that its total assets under management has now reached $50.6 billion, its ETH trust, or ETHE, is now up to more than $7 billion worth of AUM, with its shares currently trading at around $24. GTBC has surpassed $41 billion in AUM, and shares are trading at around $59.

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Source: https://cointelegraph.com/news/rothschild-investment-corp-snaps-up-quarter-of-a-million-shares-in-grayscale-eth-trust

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