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Orion Protocol Launches A Series Of New Features To Improve Ease Of Use & Lower Entry Barriers

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Orion Protocol has launched the Orion Pool to offer decentralized access to decentralized and centralized cryptocurrency exchanges along with swap pools without requiring multiple accounts or KYC. 

Connecting The Entire Crypto Ecosystem In A Single Platform

Orion Protocol’s automated market maker (AMM) solution, Orion Pool, has helped Orion Terminal become the world’s first platform to offer decentralized access to centralized exchanges (CEXs), decentralized exchanges (DEXs), and swap pools. Through its novel design, traders can trade, stake, and participate in the platform’s governance using the native ORN token.

Orion Pool is fully integrated into the Orion Terminal, facilitating assets trading through liquidity pools rather than the traditional market. Built on Ethereum and Binance Smart Chain (BSC), the platform is in the process of integrating several other chains, including Avalanche, Cardano, Elrond, Fantom, HECO, Polkadot, and more, to enable cross-chain trading.

Initially, the multi-asset liquidity pool of Orion Pool featured supported ORN/ETH, ORN/BUSD, ORN/BNB, and ORN/USDT pairs. The platform has since introduced its dollar-pegged stablecoin, USDo, to provide the native ORN token with even more utility. Minted by staking ORN, USDo will ultimately serve as the base token for all trading pairs within the Terminal.

Orion Protocol aims to create a platform that aggregates the entire market for digital assets into a single decentralized environment. With its AMM solution, users can easily access centralized exchange liquidity from leading CEXs like KuCoin and Binance in a decentralized manner, directly from the trader’s wallet. 

While both CEXs and DEXs allow users to enter the crypto market, each has certain downsides that make it difficult for the general public to get started. For instance, registering an account on a CEX is a tiring and lengthy process. Adding the challenge are increasing government regulations, making it difficult for CEXs to operate across all jurisdictions seamlessly. 

Another significant downside of CEXs is that most centralized platforms lack transparency. DEXs address these problems, but finding your way around the decentralized exchange ecosystem requires experience in DeFi and more technical knowledge of wallet workings. As a result, many novice users find it confusing and less accessible.

Orion Protocol solves these problems by enabling users to trade across exchanges and swap pools without the need to create multiple accounts or undergo several KYC and AML verifications. The platform, via its proprietary Delegated Proof of Broker governance mechanism, enables pre-verified brokers to execute trades on behalf of the customer using their accounts. 

Accordingly, users don’t need to create different wallets for different exchanges. Brokers stake ORN, and the Orion Broker Software routes the order to the proper destination based on its stakes to execute the orders. Meanwhile, smart contracts govern the transactions, ensuring that brokers can never access customer’s accounts. 

By offering users decentralized access to the entire crypto market, that too from a single UI, Orion Protocol is spearheading a DeFi revolution. Given its multitude of features, the platform is well-equipped to help accelerate the use and adoption of cryptocurrencies with its friendlier gateway to the ecosystem.

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Source: https://btcmanager.com/orion-protocol-launches-features-entry/

Blockchain

PayPal’s U.K. Customers Can Now Buy, Sell, and Hold Bitcoin

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Global payments giant PayPal disclosed on Friday that its customers in the United Kingdom can now buy, sell, and hold multiple cryptocurrencies, including bitcoin and ether, directly from their accounts.

PayPal’s Crypto Services Now Available For UK Users

“We are delighted to share that all eligible customers in the UK can now buy, hold, and sell #Cryptocurrencies #Bitcoin, #Ethereum, #BitcoinCash & #Litecoin from their PayPal accounts. Look out for it in the PayPal app,” the announcement reads.

Like the U.S. version of its digital asset products, PayPal said it will continue to use New York-licensed crypto company Paxos to facilitate the buying, selling, and holding of the supported assets.

The company’s U.K. customers can buy or sell the aforementioned cryptocurrencies for as low as £1, the company said in a statement last month when it first announced its intentions to expand to Great Britain.

With the offering fully live in the U.K., the region has become the first international expansion of the firm’s cryptocurrency products, which initially launched in the United States in October last year.

Massive Success

Since PayPal flagged off its cryptocurrency services, the company has recorded significant engagement on its platform and has also seen a major increase in revenue.


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In March this year, the company introduced a Crypto Checkout Service to enable its customers to pay for goods and services using digital currencies across its 29 million online merchants globally.

The massive success of PayPal’s crypto initiative in the United States has given the company the assurance that its offerings will succeed in the U.K.

“It has been doing really well in the U.S., We expect it’s going to do well in the U.K.,” Jose Fernandez da Ponte, PayPal’s general manager for blockchain, crypto and digital currencies, told CNBC in an interview last month.

PayPal Committed to Boosting Crypto Services

Despite the success of its crypto offerings, the company is still working round the clock to ensure its clients have a friendly experience using the service.

PayPal plans to launch a Super App Wallet for digital assets in the U.S. The firm is also putting together a cryptocurrency team n Ireland that will focus on different roles such as anti-money laundering (AML), regulatory compliance, and business development.

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Source: https://cryptopotato.com/paypals-u-k-customers-can-now-buy-sell-and-hold-bitcoin/

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Blockchain

MonoX Raises $5M to Disrupt Traditional DEXs Using Single-Sided Liquidity Pools

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[PRESS RELEASE – Singapore, Singapore, 17th September 2021]

MonoX Protocol, the most capital-efficient automated market maker (AMM) in the DeFi space, is delighted to announce the closing of a $5 million funding round to make it economical for projects to launch their tokens using its innovative single-sided liquidity pools.

Led by Krypital Group, the funding round saw participation from Axia8 Ventures, Animoca Brands, Divergence Ventures, Youbi Capital, Rarestone Capital, LD Capital, GenBlock Capital, 3Commas, OP Crypto, and Blockdream.

Ruyi Ren, founder, and CEO of MonoX, said, “With a lot of innovation in the DeFi space, over-collateralization has become an increasingly big problem. As the most capital-efficient liquidity solution, MonoX will help more innovative projects succeed. We will use the funding to grow the team, further develop and build our community in new flourishing DeFi ecosystems like Solana.”

Unlike traditional DEXes that require projects to deposit two tokens to build a liquidity pair, MonoX enables developers to list their tokens without the burden of bringing another asset. Projects can launch new tokens without extra capital because they don’t need to deposit a second token to build the pair.

Derek Hansen, Partner at Rarestone Capital, said, “MonoX is tackling the capital inefficiencies caused by liquidity pairs. Project owners can list their tokens without the burden of capital requirements and focus on using funds for building the project instead of providing liquidity. Their novel approach to single-sided liquidity is sure to help scale new emerging DeFi ecosystems like Solana and Avalanche. We look forward to their launch and will use our collective resources and expertise to help them succeed.”

The platform groups the deposited tokens into a virtual pair with the vCASH stablecoin, which is backed by all assets in the MonoX pools. It eliminates the capital inefficiencies caused by liquidity pairs.

The single-sided liquidity design reduces trading fees by avoiding the lengthy transaction paths that we see on traditional automated market makers (AMMs).

“Based on our full confidence in the future of DeFi, we have been looking for products that can help DeFi expand and we met the MonoX team. We believe that their ideas can lower the barriers to entry for users, at the same time create greater value for the DeFi field. This is why we decided to invest and incubate this project, and also use our various resources and experience to help them develop,” said Maggie Wu, co-founder and CEO of Krypital Group.

MonoX is also a capital-efficient solution to infuse liquidity to Value-backed Tokens (VBTs) such as synthetics, fractional NFTs, gaming tokens and insurance tokens. Such assets can be launched and traded with zero collateral, meaning projects and users don’t have to collateralize them a second time with a liquidity pair.
MonoX is set to launch its mainnet on Ethereum and Polygon in the Q3 of 2021 with full swap and liquidity features. As a blockchain-agnostic platform, it will also launch on Solana in the near future.

About MonoX

MonoX is the most capital-efficient automated market maker (AMM) in the DeFi ecosystem. It empowers developers, traders, and liquidity providers to participate in an open, accessible, and capital-efficient marketplace. MonoX aims to revolutionize DeFi by fixing the capital inefficiencies of the first-generation protocol models. Its single-sided liquidity pools and vCASH stablecoin facilitate lower trading fees, capital efficiency, and the ability to launch tokens with zero additional capital.

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Source: https://cryptopotato.com/monox-raises-5m-to-disrupt-traditional-dexs-using-single-sided-liquidity-pools/

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News

Uniswap in a False Breakout, Resumes Downward Correction

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Sep 18, 2021 at 10:40 // News

The price of UNI is trying to move back up

The price of Uniswap (UNI) has fallen into the downtrend zone as the price reached the low of $25.08. As the price breaks below the moving averages, there is a likelihood of further downward movement in the price.

Today, the price of UNI is trying to move back up and reach the earlier high of $28. It is a difficult task for the buyers to regain the previous high of $28 as the altcoin is facing another rejection at $25.18. If the altcoin gets rejected at the recent high, the market will fall back to the low of $22. However, the uptrend will resume if the price finds support above $22. The $22 support has held in the price action so far. For the cryptocurrency to resume its upward momentum, buyers need UNI to hold above the moving averages.

Uniswap indicator reading

The altcoin is at level 47 of the Relative Strength Index for period 14. The cryptocurrency is in the downtrend zone and below the midline 50. The price of the crypto is below the moving averages, indicating a possible downward movement of the altcoin. UNI is above the 25% range of the daily stochastic. The cryptocurrency is in bullish momentum but faces rejection at the recent high.

UNIUSD(_Daily_Chart)_-_SEPT._18.png

Technical indicators:

Major Resistance Levels – $55.00 and $57.00

Major Support Levels – $22.00 and $20.00

What is the next direction for Uniswap

According to the 4-hour chart, the price of Uniswap (UNI) continues to be in a downward correction. The cryptocurrency is hovering between the $22 and $25 levels, having broken through the $25 resistance. The selling pressure is pushing the altcoin back into the range bound zone. Today, the bulls are retesting the resistance to break it. It is likely that altcoin will continue its downward correction.

UNIUSD(4_Hour_Chart)_-SEPT.18.png

Disclaimer. This analysis and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by Coin Idol. Readers should do their own research before investing funds.

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Source: https://coinidol.com/uniswap-false-breakout/

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