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June 18th Deadline: Celo Foundation Wave IV grants program

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The Celo Foundation, a nonprofit supporting the development of the Celo open blockchain platform, recently announced a new grants program. Providing entrepreneurs with capital along with mentorship to projects that are accelerating technical development and expanding the Celo ecosystem; the Celo Foundation grants program is an open initiative where anyone is encouraged to apply.

Grants are based on four key areas: 

  • Fostering innovation and development of the Celo platform and Celo reference wallets.
  • Lowering barriers to entry, encouraging the accessibility of Celo to developers and end-users.
  • Educating and expanding Celo’s global community.
  • Expanding Celo’s access, opportunity, and impact.

Following the Celo mainnet launch last year, the Celo community ecosystem has been growing. To date, the Celo Foundation grants program has supported 90+ projects in 54 countries, with a value of $4.9M in funding across the last three waves. The last wave generated strong interest with over 170 applications.

Applications for Wave IV of Celo Foundation grants can be submitted here.

The deadline to submit applications is June 18, 2021.

The Celo Foundation is now pleased to invite developers, designers, dreamers, and doers across the world to work on some of the key priorities for the Celo ecosystem. For ideas that are not represented in the list below, feel free to submit it or join the #grants conversation on Discord for feedback.

Lowering Barriers to Access

  • On/off ramps: Proposals to provide users with more options to easily and compliantly purchase, sell, and use Celo assets; including cUSD and cEUR with fiat currencies.
  • Multi-chain wallets: Proposals from multi-chain wallet providers to add Celo assets that will help connect other digital asset users with Celo.
  • Open APIs for accepting cUSD and cEUR online: Proposals to make it easier for online merchants to accept cUSD and for users to spend their cUSD and cEUR without having to go through an off-ramp. Also, related, proposals for eCommerce plugins that leverage APIs such as WooCommerce, Shopify, and BigCommerce.
  • Agent networks: To promote financial inclusion, agent networks play a key role in educating users and giving them access to crypto-assets, Agent networks in some of the key emerging markets to promote the use and adoption of Celo can further benefit the larger Celo Community.

DeFi

  • Community funding platform: Entrepreneurs on the Celo platform would benefit from being able to raise funding compliantly and at a low cost. Proposals may include building a compliant platform that incentivizes liquidity providers and founders to participate in mission-aligned projects within the Celo ecosystem.
  • Lending/borrowing platforms: Lending platforms can help Celo’s core mission of building financial inclusion. Zero collateral and undercollateralized loans are particularly interesting as well as solutions that support credit markets like credit scoring, and insurance.
  • Liquidity management: Tools that help automate different strategies to manage liquidity for digital assets.
  • DeFi aggregators: One of the hurdles to DeFi adoption is accessibility and understanding from users. DeFi aggregators can simplify the user experience around interacting with DeFi protocols.
  • Tokenization of different asset classes: NFTs are being used to enable new asset classes on blockchains. The Celo Foundation would like to see more research around how to create and deploy new types of asset classes on Celo.

Creator Economy

  • Marketplace: Platforms for creators to launch their work directly to their communities using Celo blockchain.
  • DAOs: Mechanisms that enable collective ownership between creators, publishers, and their audiences.
  • Social media platforms: Platforms that leverage social relationships to enable collaboration between artists, creators, and their audience to drive co-creation, showcase, and exchange NFTs.

Payments

  • Credit cards and physical card-based solutions: Proposals that enable Celo users to earn rewards and/or spend Celo assets using payment cards.
  • Decentralized marketplace and/or use cases: allowing and educating buyers and sellers to interact and transact in a trusted, permissionless way.
  • Integrate payments with SMS/iOS messenger: More ways to transact via the Celo network through familiar interfaces to encourage accessibility.

Promoting Celo Adoption

  • Online directory where Celo is available locally: As the community develops more ways to access Celo assets, a regularly updated online directory would be helpful for users to know where they can access CELO, cUSD, and cEUR in their region.
  • Earning programs. Proposals that help users to earn Celo assets, for example, microwork.
  • Referral, rewards, and cashback programs: Proposals that enable Celo users to refer their friends and family, transact, and earn rewards using Celo assets.

Education

  • Localized technical and non-technical education and tutorials: Educational programs in native languages, specifically programs in Tagalog/Filipino, Spanish, Portuguese, Chinese, French, Turkish, and German, but all are welcome. Priority will be given to technical education for developers who are new to blockchain and Web3.
  • Incentivized and gamified-learning programs: Learning something new and technically complex can be challenging — that’s why the Celo Foundation would like to see programs that incentivize learning and/or leverage gameplay dynamics.
  • Content and education: Create and promote mobile-friendly programs that showcase the potential of Celo technology and its mobile-first approach. Some use cases for content include community currencies, natural asset-backed currencies, and universal basic income (UBI).

Community Building

  • Increasing awareness of the Celo platform, CELO, cUSD, and cEUR: Help the community onboard the next 1 billion Celo users. Blockchain still presents high barriers of access, and the Celo Foundation is looking for ideas to help overcome these barriers and make it easy for everyone to access the benefits of Web3. Especially ideas that target merchants and remittance users in emerging markets.
  • University student clubs: The Celo Foundation would love to support student groups worldwide in building blockchain education programs and curriculum according to their needs.
  • Community-based solutions: The Celo Foundation is interested in supporting teams that are working on any of the given requests through inclusive community-based solutions.

Technical

  • Offline transactions: Support for offline or local network transactions in the Celo blockchain client for use in wallets with low connectivity. For example, this would allow a user without internet access to send a transaction via a merchant’s retail POS or phone; using NFC, Bluetooth, or 2 QR code scans.
  • Privacy (identity and transactions): The Celo Foundation is interested in R&D and implementations around compliant ways to preserve privacy as it relates to on-chain identities and transactions.
  • Plumo provers: Plumo requires participants that can contribute computational resources to run Plumo provers to produce proofs and gossip them across the network.

Tooling

  • Blockchain monitoring: The Celo Foundation is looking for tools that make it easy for developers to listen to the Celo network and trigger other actions (potentially via webhooks).
  • Block explorers: There are a couple of popular Celo block explorers but block explorer diversity is an important part of a healthy blockchain network.

Research

  • Local currency toolkit: Local currencies backed by blockchain technology have the potential to reshape and revitalize communities. The Celo Foundation wants to support teams that are exploring what this might look like and how to execute it; as well as share their research with the wider blockchain and local currency communities.
  • CBDC sandbox: Central bank digital currencies are coming online. How can central banks leverage public blockchain networks, and how can they be onboarded? The Celo Foundation is looking for applications for projects that can help onboard central banks to Celo.
  • Bond issuance sandbox: This is related to tokenizing different asset classes yet focused on how to issue bonds on Celo.

Timeline & Key Dates

  • Application deadline: June 18, 2021.
  • Announcement of Celo Foundation grant recipients: July 21, 2021.

For more information:

Applications can be submitted here. For additional information and any questions, email grants@celo.org.

Source: celo.org

Source: https://www.cryptoninjas.net/2021/05/31/june-18th-deadline-celo-foundation-wave-iv-grants-program/

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Commodity strategist predicts Bitcoin ETF could get the nod in US next month

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Bloomberg Intelligence Commodity Strategist Mike McGlone believes it is only a matter of time before the U.S. Securities and Exchange Commission (SEC) approves the country’s first Bitcoin exchange-traded fund (ETF).

In an interview with Stansberry Investor host Daniela Cambone on Sept. 21, McGlone asserted that Canada is extending a competitive lead over the United States after approving Bitcoin ETFs from 3iQ and Coinshares in April.

He emphasized that capital is flowing from the U.S. to Canada’s institutional crypto products, including from Cathie Wood’s Ark Invest. However, he believes that lawmakers in the United States will not want to miss out for much longer.

When asked about a timeframe on potential U.S. Bitcoin ETF approval, McGlone said it could happen “potentially by the end of October.” He maintained that it was likely to be a futures-backed product first, adding that it would open a “legitimization window for a massive amount of money inflow.”

McGlone also reiterated the latest report from Bloomberg Intelligence that stated Bitcoin prices hitting $100,000 was a possibility this year, and this would be driven by the approval of an ETF.

Crypto YouTuber Lark Davis shares McGlone’s price targets, observing that in previous bull markets in 2013 and 2017, the latter quarters saw huge price rallies.

Related: Canadian Bitcoin ETFs quickly hit $1.3B in AUM while US acceptance lags

The SEC is currently yet to approve a crypto ETF despite the number of applications it has received from prospective issuers continuing to mount.

Earlier this month, multinational financial services firm Fidelity Investments, lobbied the SEC to approve an ETP arguing that Bitcoin markets have already reached maturity under the regulator’s own standards.


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Source: https://cointelegraph.com/news/commodity-strategist-predicts-bitcoin-etf-could-get-the-nod-in-us-next-month

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TA: Ethereum Topside Bias Vulnerable If It Struggles Below $3K

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Source: https://www.newsbtc.com/analysis/eth/ethereum-struggles-below-3k/

Ethereum settled below the $3,000 support zone against the US Dollar. ETH price could resume its decline unless there is a clear break above the $3,000 resistance zone.

  • Ethereum started a fresh decline below the $3,100 and $3,000 support levels.
  • The price is now trading below $3,000 and the 100 hourly simple moving average.
  • There is a major bearish trend line forming with resistance near $3,000 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could resume its decline unless there is a clear break above the $3,000 resistance zone.

Ethereum Price Remains At Risk

Ethereum started another decline from the $3,100 resistance zone. ETH traded below many important support zones near $3,000 and the 100 hourly simple moving average, similar to bitcoin.

The price even broke the $2,800 support level to move further into a bearish zone. A low is formed near $2,651 and the price is now correcting losses. There was a break above the $2,800 and $2,850 resistance levels.

The price recovered above the 23.6% Fib retracement level of the recent drop from the $3,105 swing high to $2,651 low. An immediate resistance on the upside is near the $2,880 level. There is also a major bearish trend line forming with resistance near $3,000 on the hourly chart of ETH/USD.

Ethereum Price

Source: ETHUSD on TradingView.com

The trend line is close to the 50% Fib retracement level of the recent drop from the $3,105 swing high to $2,651 low. A close above the $3,000 resistance could start a decent recovery. The next major resistance might be near the $3,105 level. A clear break and close above the $3,105 level could start a steady increase. The next major resistance sits near $3,135 and the 100 hourly SMA.

More Losses in ETH?

If ethereum fails to correct higher above the $2,880 and $3,000 resistance levels, it could start another decline. An initial support on the downside is near the $2,800 level.

The next major support seems to be forming near the $2,650 level. A downside break below the $2,650 support zone could lead the price towards the $2,550 zone. The next major support is near the $2,500 level, below which ether price might decline towards the $2,420 support zone.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is slowly losing pace in the bullish zone.

Hourly RSIThe RSI for ETH/USD is still below the 50 level.

Major Support Level – $2,650

Major Resistance Level – $3,000

Source: https://www.newsbtc.com/analysis/eth/ethereum-struggles-below-3k/

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Evergrande crisis: Buy the dip or bail? Pundits weigh in

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As the prospect of Chinese property giant Evergrande defaulting on $305 billion worth of debt looms, pundits are weighing in on how the firm’s bankruptcy could impact the legacy and crypto markets.

Speculation as to whether the real estate investment giant will default has coincided with a downturn across the crypto and stock markets, leaving many analysts divided on whether traders should be buying the dip or looking to take profits in preparation of further bearish momentum.

At the time of writing, Bitcoin (BTC) is down by around 13% since the downturn started on Sept. 18, while the S&P 500 is down by 1.7% and the Hang Seng has dipped 2.8% within the same time frame.

Some are asserting that Evergande’s possible default could represent another Lehman Brothers moment — citing the major investment bank’s 2008 declaration of bankruptcy on $600 billion worth of debt that kicked off the Global Financial Cris.

However, speaking at the Greenwich Economic Forum on Sept. 22, Bridgewater Associates co-chairman and co-CIO Ray Dalio downplayed the significance of an Evergrande default and suggested that the debt is “manageable.”

Dalio admits that while investors will be stung, he thinks that Evergrande’s debt won’t cause structural damage, as the Chinese government may swoop in to restructure the firm and strike deals with the company. He said:

“[The] Lehman moment produced pervasive structural damage through the system that wasn’t rectified until the Treasury came across in terms of its borrowing and then the Fed came across with quantitative easing, but this is not that kind of a shake-up.”

Ming Tan, a director at the credit rating agency Standard & Poor’s (S&P) predicts the Chinese state will intervene to restructure Evergrande.

Speaking to Financial Times on Sept. 20, Tan speculated that said restructuring is likely to see the “profitable parts of [Evergrande’s] business bought up by rivals,” with its debt obligations likely to be underwritten by either a consortium of commercial Chinese banks or the local central bank directly.

Influencer Lark Davis also isn’t too concerned:

Not everyone is so optimistic. The host of CNBC’s Mad Money show, Jim Cramer asserted Evergrande’s debt issues will likely impact the crypto market because nearly half of the reserves backing the leading stablecoin Tether (USDT) are held in commercial paper

Cramer urged for investor caution while Evergrande awaits a verdict on a potential government bailout, stating:

“I know the crypto-lovers never want to hear me say sell, but if you’ve got a big gain as I did, well, I’m begging you: Don’t let it become a loss. Sell some, stay long the rest, then let’s wait and see if China changes its attitude toward an Evergrande bailout.”

While Tether has denied holding any commercial paper issued by Evergrande, analysts have warned that the fallout from an Evergrande restructuring could have significant impacts on the broader commercial paper markets.

“Tons of Chinese businesses stand to get crushed by this fiasco, and they have Evergrande exposure, and that could spell real trouble,” said Cramer.

Marty Bent, a podcaster and the co-founder of Great American Mining, also sounded alarm bells in his Sept. 20 newsletter.

Bent suggested that an Evergrande default will unveil how “exposed the Western world is to China’s economy” via investments in the large real estate players, their debt instruments, and the debt issued by the Chinese Community Party (CCP).

“Evergrande is going under and it is dragging other large real estate developers in China down with it. The world is witnessing another Lehman moment,” he said.

Bent questioned the assertion that Evergrande is likely to be bailed out by the government, noting the party’s recent push to rein in Chinese capitalism and tighten regulations on the real estate market.

“The CCP has come out and stated that they do not plan on backstopping the real estate developers who are currently plummeting toward bankruptcy. It will be interesting to see if they keep this posturing as things get worse,” he said.

The podcaster also noted that while he unsure how the fallout from Evergrande will impact Bitcoin in the short to medium term, he is “thankful” he can hold Bitcoin as a hedge against the fiat-backed global financial system.

Related: ‘Extreme fear’ as Bitcoin falls below $40K … and then bounces

The share price of Evergrande has been steadily declining during 2021 as its credit woes have mounted. After opening the year at roughly $14, the price sits now at $2.20 — a loss of more than 84%.


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Source: https://cointelegraph.com/news/evergrande-buy-the-dip-or-bail-pundits-weigh-in

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