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Introducing the TimeWarp Staking Program: an Attractive Investment Opportunity for Decentralized Finance Users

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TimeWarp is a brand new and exciting staking program designed for TIME token holders. The TIME Token, a darling of the Crypto sector and a survivor of the infamous “Crypto Winter” (the token was launched in 2017), is the native currency of the Chrono.Tech Ecosystem.

With a Market capitalization of 15 764 265 US Dollars (at the time of writing), and a circulating supply of only 710 112 tokens, this token was already an excellent opportunity prior to the launch of the staking program. The TimeWarp staking program, which puts the TIME token front and center, takes this opportunity to the next level.

Qries

The TimeWarp protocol allows TIME holders to stake tokens (or in other words, to lock funds) in the TimeWarp smart contract, from the comfort of their self-custodial wallet (and, it needs to be said, without the need to formally identify themselves through KYC) in order to generate rewards, which can be either harvested or compoundedharvested rewards will be sent to the wallet used to connect with the TimeWarp Protocol, while compounded rewards will be added to the amount staked in the TimeWarp smart contract. 

It is important to highlight and illustrate the distinction between harvesting and compounding as investment strategies in the context of the TimeWarp staking program. If Alice staked 100 TIME tokens and generated a reward of 10 TIME tokens, she can choose to simply harvest the reward, which will be withdrawn to the wallet she used to originally stake her TIME tokens with. At the end of the withdrawal process, Alice will still have 100 TIME tokens staked, but an added 10 TIME tokens in her wallet. If she chooses to Compound her reward of 10 TIME tokens, she will now have a total of 110 TIME tokens staked.

The launch of this new staking program could not be more timely. The recent, aggressive market selloff, which brought back for many painful memories of the events which unfolded in March 2020, is a cue for investors – once things calm down, and we may have reached that point, they will look to go back in, towards the most attractive opportunities offered by Decentralized Finance. The TimeWarp staking program is well positioned to take advantage of the influx of investors, amateurs and professionals, currently sidelined (with assets in cash or stablecoins) and with eyes on the market.

There are currently two staking pools users can participate in: one that allows users to stake TIME directly, and a TIME/ETH pool that entitles users to receive the TIME/ETH liquidity pool token

As you can see from the image below, the TimeWarp team has made it clear it wants to expand into Binance’s Smart Chain (BSC) to take advantage of the speed and low fees of that network – a huge win for their users – a TIME pool and a TIME/BNB pool are in the works. 

It is only speculative at this point, but: will users be able to swap TIME on the Ethereum Main Chain for TIME on the Binance Smart Chain (BSC)? What is certain is that the TimeWarp team will do what is best for its user base and TIME token holders.

Make no mistake: for “yield chasers”, and for those aiming to diversify into Decentralized Finance (DeFi) following the recent hair-raising market events, TimeWarp represents an excellent opportunity.

At the moment, it is possible to purchase TIME on the following exchanges: Time X, KuCoin, Uniswap and soon on the Binance-backed Pancake Swap.

The inner workings of the TimeWarp Staking Program

How exactly are the rewards of this program generated? The TimeWarp team’s excellent documentation makes this very clear – and clarity is a huge plus when it comes to customer confidence: a portion of the revenue generated by the Chrono.Tech ecosystem will be used to purchase TIME tokens. 

The Chrono.Tech ecosystem is comprised of the following entities:

  • LaborX – a stellar cryptocurrency job market designed for freelancers, sporting a secure escrow system and, for the convenience of employers and freelancers, cryptocurrency payments on two different networks: Ethereum Main Chain and Binance Smart Chain. 
  • TimeX – A hybrid cryptocurrency exchange built using Plasma technology, hybrid in the sense that it combines the speed and the privacy of a CEX (central exchange) and the security of a DEX (decentralized exchange).
  • PaymentX – a payroll solution that automates payments in crypto for employees and contractors.
  • AUDT – a  compliant stablecoin backed by real reserves of Australian dollars.

The TIME tokens purchased using the revenues of the Chrono.Tech ecosystem are locked in a special wallet called: the TIME fund

At specific intervals (at the moment, once a week), the TIME tokens stored in the TIME fund are distributed to those who will have staked their time tokens in the timewarp smart contract.

TIME Stakers are also entitled to other benefits, such as premium account status and job mining for LaborX users.

Time-based Incentives

The team behind the TimeWarp DeFi protocol clearly understands that Decentralized Finance is all about incentives. TimeWarp offers an attractive reward program reflecting the amount of time users lock their tokens in the TimeWarp smart contract.

At the moment, it is possible to stake TIME tokens for a period of one hour to two years.

While it is not possible to unstake early, the one hour staking period, which was implemented to keep flash bots from attacking the protocol and safeguarding funds, ensures that users who want to withdraw their funds after a very short period of time are able to do so.

There is a fantastic incentive here to reward users who lock their funds for long periods of time: the longer a user locks his or her TIME tokens, the higher the reward multiple.

Now, here is the question you have all been waiting for: what can users expect in terms of Yield (APY)? 

We have seen above that the rewards distributed are a direct function of the revenues generated by the Chrono.tech ecosystem. The Yield will be a direct function of the revenues generated by: LaborX, Time X, Payment X and AUDT.

Now for the eagle-eyed investor, this is clearly an opportunity. If we only look at the numbers for LaborX, the job market designed for freelancers, one can see that user growth and gig growth are both trending up, which means that revenues for this platform are trending up. In the end, both of these indicators trending up is a strong indication that TIME purchases will increase – APY will clearly benefit from this.

Currently, there are 454 985 TIME tokens staked, out of a total supply of 710 112 – a staggering figure. The APY stands at an eyebrow-raising 274%, on par with quite a few PancakeSwap pools. 117 TIME stakers have locked funds in the TimeWarp Smart Contract, which is a great start, considering that the program has only been launched recently. That figure should increase rapidly as DeFi users realize how they can benefit from staking their TIME. As we can see, 10530 TIME tokens, a value of 192 357 US dollars, have been distributed to stakers so far since the program has launched.

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Source: https://nulltx.com/introducing-the-timewarp-staking-program-an-attractive-investment-opportunity-for-decentralized-finance-users/

Blockchain

Kraken Daily Market Report for June 24 2021

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Overview


  • Total spot trading volume at $1.02 billion, the 30-day average is $1.49 billion.
  • Total futures notional at $332.0 million.
  • The top five traded coins were, respectively, Bitcoin (+2.9%), Tether (0%), Ethereum (+1.0%), Cardano (+8.7%), and Dogecoin (+12%).
  • Strong returns from Tron (+14%), Dogecoin (+12%), and Siacoin (+11%).

June 24, 2021 
 $1.02B traded across all markets today
 Crypto, EUR, USD, JPY, CAD, GBP, CHF, AUD 
BTC 
$34664. 
↑2.9% 
$344.5M
USDT 
$0.9999 
↓0.03% 
$275.9M
ETH 
$1988.1 
↑1.0% 
$165.3M
ADA 
$1.3586 
↑8.7% 
$63.5M
DOGE 
$0.2635 
↑12% 
$46.6M
USDC 
$1.0 
↑0.0% 
$37.4M
XRP 
$0.6701 
↑4.6% 
$31.6M
DOT 
$16.218 
↑2.6% 
$21.9M
LINK 
$19.029 
↑3.4% 
$13.1M
LTC 
$134.44 
↑4.2% 
$10.3M
SC 
$0.0115 
↑11% 
$7.74M
XMR 
$225.31 
↑3.1% 
$6.9M
KSM 
$205.14 
↓0.29% 
$6.88M
BCH 
$486.82 
↑2.9% 
$6.11M
TRX 
$0.0660 
↑14% 
$6.0M
EOS 
$3.9205 
↑6.8% 
$4.61M
AAVE 
$209.93 
↑0.8% 
$3.91M
FLOW 
$8.71 
↑1.7% 
$3.59M
XLM 
$0.2685 
↑5.0% 
$3.39M
DAI 
$1.0003 
↓0.0% 
$3.2M
FIL 
$57.137 
↓2.6% 
$2.87M
MINA 
$1.76 
↓2.8% 
$2.67M
MATIC 
$1.2027 
↑2.3% 
$2.57M
ATOM 
$10.358 
↑7.8% 
$2.16M
UNI 
$18.041 
↑1.4% 
$1.97M
OXT 
$0.2463 
↑3.2% 
$1.9M
NANO 
$5.0086 
↑7.7% 
$1.8M
ALGO 
$0.8725 
↑4.8% 
$1.75M
KAVA 
$3.5567 
↑5.0% 
$1.61M
KEEP 
$0.2697 
↓0.5% 
$1.55M
ANT 
$3.5411 
↓0.9% 
$1.5M
SOL 
$31.19 
↑3.1% 
$1.49M
XTZ 
$2.8275 
↑5.2% 
$1.34M
ETC 
$43.079 
↑5.2% 
$1.26M
OMG 
$3.8772 
↑3.4% 
$1.23M
DASH 
$131.23 
↑3.0% 
$1.22M
YFI 
$31305. 
↑1.0% 
$1.21M
MANA 
$0.5238 
↑4.8% 
$1.13M
ZEC 
$112.63 
↑0.8% 
$1.03M
COMP 
$256.34 
↑5.9% 
$942K
SNX 
$6.5814 
↓1.4% 
$772K
ICX 
$0.8113 
↑3.4% 
$724K
WAVES 
$13.517 
↑2.9% 
$678K
QTUM 
$6.1507 
↑4.7% 
$635K
BAT 
$0.5719 
↑3.9% 
$523K
GRT 
$0.6017 
↓0.23% 
$522K
MLN 
$66.198 
↓0.6% 
$514K
CRV 
$1.6669 
↑11% 
$504K
PAXG 
$1779.5 
↓0.14% 
$427K
OCEAN 
$0.4304 
↑4.7% 
$409K
BAL 
$17.98 
↑6.2% 
$400K
REPV2 
$12.863 
↑8.7% 
$353K
STORJ 
$0.6808 
↑2.7% 
$349K
KNC 
$1.4049 
↑4.0% 
$341K
RARI 
$8.02 
↓11% 
$338K
MKR 
$2235.8 
↑3.2% 
$265K
LPT 
$23.16 
↓4.9% 
$231K
SRM 
$2.9789 
↑2.4% 
$226K
EWT 
$6.2520 
↑5.6% 
$184K
LSK 
$2.0937 
↑5.3% 
$166K
GNO 
$148.32 
↑0.4% 
$150K
ANKR 
$0.0783 
↑1.8% 
$146K
REP 
$18.633 
↑3.1% 
$131K
SUSHI 
$6.99 
↑0.9% 
$96.2K
REN 
$0.3520 
↑1.4% 
$82.5K
SAND 
$0.2019 
↑4.2% 
$37.2K
ENJ 
$1.07 
↑2.0% 
$36.6K
GHST 
$0.9626 
↓1.8% 
$21.9K
ZRX 
$0.66 
↑3.3% 
$18.6K
TBTC 
$35310. 
↑10% 
$4.22K
BNT 
$3.1430 
↑4.0% 
$1.99K



#####################. Trading Volume by Asset. ##########################################

Trading Volume by Asset


The figures below break down the trading volume of the largest, mid-size, and smallest assets. Cryptos are in purple, fiats are in blue. For each asset, the chart contains the daily trading volume in USD, and the percentage of the total trading volume. The percentages for fiats and cryptos are treated separately, so that they both add up to 100%.

Figure 1: Largest trading assets: trading volume (measured in USD) and its percentage of the total trading volume (June 24 2021)



Figure 2: Mid-size trading assets: (measured in USD) (June 24 2021)


###########. Daily Returns. #################################################

Daily Returns %


Figure 3: Returns over USD and XBT. Relative volume and return size is indicated by the size of the font. (June 24 2021)


###########. Disclaimer #################################################

The values generated in this report are from public market data distributed from Kraken WebSockets api. The total volumes and returns are calculated over the reporting day using UTC time.

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Source: https://blog.kraken.com/post/9743/kraken-daily-market-report-for-june-24-2021/

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Dogecoin: Investing ‘in currency with dog’ makes sense to this section?

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The adage, “You work hard for your money and your money should work hard for you,” will, perhaps, never age with time. Investing is important, if not critical, to make your money work for you. Until a few years back, the masses mostly relied only on stocks and physical assets like gold and property as investments. In fact, for the older generations, the traditional array of assets is a go-to option on any given day. 

Nevertheless, with the emergence of digital assets like cryptocurrencies, market participants now have a wide range of assets to choose from. As a matter of fact, the newer assets resonate well with the newer generations. Even during market adversities, the younger generations express their enthusiasm and keep claiming that they’re “in for the tech.”

A meme that pointed out the different assets chosen by people from different generations was doing the rounds on social media lately. It, however, managed to garner traction majorly because the self-proclaimed ‘DogeFather’ reacted to its irony, thus instilling the Dogecoin v. Real estate debate.

Interestingly, in May 2020, Elon Musk took social media to announce that he was giving up most of his possessions. What’s more, he explicitly stated that he would not own any house henceforth.

Reportedly, before the aforementioned Twitter announcement, Musk owned several luxury mansions in California that had a cumulative valuation of over $100 million. Musk’s reaction to the meme makes even more sense when the above dots are connected. Well, apart from traditional asset proponents, even people close to Musk were apparently “mad” at him for taking such a call. 

Source: Motely Fool

A recent study highlighted that Gen Z and millennial investors prefer using an amalgamation of both new and old investment strategies. Cryptocurrency, however, remained the second most likely asset to be held by Gen Z investors. Well, according to the age-wise stratification, Musk falls into the Gen X category, which is typically characterized to be “conservative” with their investment choices. 

Now even though Tesla’s ‘Techno-King’ doesn’t belong to the Gen-Z or millennial category, he has evidently been fond of cryptos, especially Dogecoin over the past few months. However, the meme-coin’s value recently plunged and the community opined that even Elon would not be able to save it.

Now, since real-estate is most likely out of Musk’s equation, the odds of Musk resurrecting the meme coin and taking it on ‘moon ride’ has increased. Riding on the back of Elon’s tweets, Dogecoin has managed to record a YTD return of +4112.69%.


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Source: https://ambcrypto.com/dogecoin-investing-in-currency-with-dog-makes-sense-to-this-section

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Recap – 73% Axie Infinity Livestream Viewers are from the Philippines

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“Play-to-earn” game Axie Infinity held a livestream this week, hosted by Andrew Campbell, the new program lead at Sky Mavis, the game’s development company. The Axie Infinity team answered questions fielded by the community. From server issues to V2, check out the stream below.

This writer live tweeted during the livestream and it’s worth detailing here what are the information shared during the event. But first, let’s check the metrics of the stream as shared by Andrew:

The result solidifies the Philippines as a key market for Axie Infinity. Though it should be noted that the most popular streaming channel in the country is Facebook Live and YouTube.

On Axie Infinity V2

Table of Contents.

Aleksander Larsen, COO of Sky Mavis and Jeff Zirlin, co-founder, shared a new image of Axies with upgraded body shapes:

Days ago, the Axie Infinity community celebrated the birth of Axie no. 1 million, but it was not without controversy because it was created using what some members of the community feels is a violation of the Terms of Service. Jeff said they will look more closely into the situation.

As for staking, Aleksander said it could be by Q3 2021.

On the Server Issues

The game was recently plugged with issues, Andrew asked a question submitted by a community member: “Why don’t you just plug in more servers since you have money?” Aleksander says the game grew from 38k to 200k users in no time. “Our engineers are working overnight to keep the lights running. Things are to get better.” Andrew added the fact that while there are a lot of developers, the talent pool for those who knows blockchain (specifically, solidity) is actually smaller, while Jeff said the server issue is their no. 1 priority right now.

Sky Mavis tweeted the day after the stream:

On Free-to-play

“What to do with useless Axies?” a community member asked. 

“No Axies are useless,” Aleksander immediately answered.

Jeff hinted of “crafting” as a new addition that can be done on the upcoming Land gameplay. “I think it’s going to be a huge catalyst for us,” he said, though he reconfirms that Battle V2 and Land gameplay being “fun” are the first things they would focus on. 

Speaking of V2, the topic “free-to-play” was touched upon. In the next version of Axie Infinity, there will be starter Axies that are “free-to-play,” so new players can start without purchasing Axies. The community therefore asked “Will free-to-play hurt SLP earnings right now?” Here’s Jeff’s response:

“Free-to-play allows you to get immersed and be in love with the Axie universe before you make economic decisions. I think demand for real Axies will increase when more people are in love with Axies.”

Jeff Zirlin, Sky Mavis

Putting Axie to Every Person in the World

The above was Aleksander’s quote. One of Sky Mavis’ goals is to put the game in the App Store and the PlayStore.

Guild and Scholarships

Aleksander said they are working on Guild Features in-game itself. This would mean eventually doing what is being done in scholarships could be done on the game itself. (He did say this is very far from the pipeline.)

Which led Andrew to ask, “What do you personally feel about Axie scholarships?” Jeff talked about early 2020 and the people who first tried it out. “It was when SLP hit 2 cents when people see the scholarship thing as legitimate. It has definitely helped in our growth.”

Aleksander admitted they don’t have any direct say in scholarships, and they don’t endorse them. “But we have common sense things. For example, managers should not abuse their players. If you do, then that’s our concern.” He did say the scholarships are a testament to what’s possible in the metaverse and what you can do inside. He cited Yield Guild Games as one of the largest, if not the biggest one who do scholarships at scale.

On Axie Lore

Jeff talked about ideas re: Axie Lore, Axie Movie, Manga, but ultimately their focus right now is to make Axie as fun as possible. Aleksander said they can think about it next year.

On Multi Accounting

“We will find you.” 

Jeff Zirlin, Sky Mavis

Andrew said as Axie scales, this will be a problem. Aleksander said they are looking into the data to ensure no real people who are not multi-accounting get affected. 

“One human being can only extract so much resources per day. You have to tell your friends to play.”

Aleksander also said players don’t get banned when they are in-game and suddenly maintenance kicked in. 

On Land Gameplay, SDK and API

Jeff said they want to make Land gameplay as fun as possible, such as farming or fighting for resources. “We want to provide utility and fun things to do rather than a blank slate where people will just walk around,” said. 

On SDK, they said they are excited about using Axie assets where people can do an Axie tower defense and other games. 

There’s clamor to make the Axie API more open. “As we move towards a more stable space, we can enable the API a little bit more, a WIP,” Aleksander said Seuchenhun of Axie Zone (also a recent Sky Mavis hire) will own this product.

Pains as Axie Grows

Lately, there were reports of stuck Axies and other bugs. Aleksander said because the game is still in alpha, everything being experienced are the pains of growing. “As we grow more, there might be more bugs.”

At the end of the stream, Aleksander encouraged players to give feedback and constructive criticism, what they can do to improve.

This article is published on BitPinas: Recap – 73% Axie Infinity Livestream Viewers are from the Philippines

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Source: https://bitpinas.com/videos/axie-infinity-livestream-jun-23-2021/

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