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Blockchain

Rewardiqa platform takes DeFi to the next level

Republished by Plato

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It’s time to say it. Our major problems are caused by the traditional banking system, which is getting worse by the day.

First, there is no representation of data and financial security. Second, transaction costs are insane, and bank transfers take plenty of time – especially when our family and friends need them the most.

Not to say how vulnerable individuals became, as the bank’s workers obstructed their funds for no reason.

Unfortunately, that’s what happens when a single party is controlling all of these activities. We can’t tell for sure what funds we will have access to in the near future. This ambiguity and uncertainty are why people are looking for banking substitutes.

We have an extremely unsteady global economy. But happily, Rewardiqa represents the next step in the financial system with its completely decentralized banking structure.

Our Vision & Mission

Time connects us all irrespective of our origin or social rank. Time is limited. Time is finite. We cannot retrieve or prolong time. In today’s world, our time is mostly controlled externally.

Time is controlled by our jobs, our customers, our social obligations. We believe that every person in this world has the right to be in control of their own time. Implementing this right is our vision.

Therefore, we aim to create an equilibrium between time and money. We are establishing a global Decentralized Finance Platform. People around the world will be able to make real money by staking, lending, or borrowing Rewardiqa & major Coins such as ETH, ADA, DIA, LINK, YFI, BNB, and so on. Our mission is to give every person access to this opportunity no matter whether they come from a village in Vietnam, the outskirts of Ber-lin, or downtown Manhattan.

What is Rewardiqa?

Rewardiqa is a global Reward app that combines some of the best features of money market protocols, while offering its own unique features, enabling users to enjoy the promises of #DEFI. Earn money wherever and whenever you desire, earn cryptocurrency absolutely risk-free, whether it is Bitcoin, Ethereum, or our own Rewardiqa token.

Rewardiqa is a well-known crypto project, they have a big community and more than 30k users on their reward app, you can check their token value and updates on Coinmarketcap

https://coinmarketcap.com/currencies/rewardiqa/

Rewardiqa’s Principles

  •  Effective global inclusion can only happen when all   platforms participants can negotiate and settle efficiently
  • The ability to earn and improve one’s condition is a basic human right
  • Efficiency is about respecting the most valuable resource of all time

What financial products do they have?

Rewardiqa conquered many people due to its wide variety of financial products, which expands crypto usability.

Yield Farming

Not so long ago, this business technique was available just with the intervention of third parties. However, with DeFi expanding its potential, Rewardiqa offers it on the blockchain as well.

If you are not familiar with this term, think about this simple scenario:

You lend some crypto to someone, expending an interest. The borrower lends those cryptocurrencies to someone else, and so on. In the end, you get compound interest. Simple, right?

Vaults

Vaults are a new generation of crypto wallets that are not connected to any kind of network – adding a new security layer to your account. They are perfect if you are planning to hold your assets for a long-term profit.

Lending markets

Lending markets are pretty similar to lending on banks but without third parties. Not just that you can set yourself free from the inconsistent picky behavior of bank employees, but it’s a lot faster. The lending and borrowing activities are done instantly, with no need for someone to validate them.

Non-fungible tokens

These are perfect for people who like variety, moving from one platform to another. They are a new type of cryptocurrencies that preserve ownership rights, are transferable and authentic.

Conclusion

With promising companies like Rewardiqa, the DeFi technology will soon conquer more and more economic enthusiasts, bringing closer a future that is more financially healthy, safer, quicker, and of course, carefree.

Website- https://rewardiqa.com

Twitter handle- https://twitter.com/rewardiqa

Telegram- https://t.me/rewardiqaofficial

https://t.me/rewardiqanews

Disclaimer: This is a paid post and should not be taken as news/advice.


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Source: https://ambcrypto.com/rewardiqa-platform-takes-defi-to-the-next-level

Blockchain

AgeUSD to Launch as First Stablecoin on Cardano Network

Republished by Plato

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Multinational blockchain technology company Emurgo initially announced the AgeUSD stablecoin in January 2021. The firm has since announced a partnership between the Ergo Foundation, Emurgo, and Charles Hoskinson’s Input-Output Global, the parent company of IOHK.

The AgeUSD stablecoin will be available on Cardano as soon as smart contract capabilities are launched on the blockchain, it revealed.

Do We Need Another Stablecoin?

Emurgo is aiming to prevent events like MakerDAO’s Black Thursday which emerged through vulnerabilities in its Dai collateralization mechanism. A mass liquidation of the vast majority of Maker vaults resulted in around $4 million in Dai being under-collateralized at the time in March 2020.

AgeUSD’s so-called “Staticoin” protocol-inspired design does not rely on collateralized debt positions (CDPs).

“Thanks to its design, the scenario that happened on Black Thursday is not possible for the AgeUSD protocol. Without CDPs, we do not have liquidation events nor the requirement for users to perform transactions to ensure that the liquidations actually work properly,”

The stablecoin runs on the Ergo blockchain aiming to automate as much as possible within the mathematics of the protocol itself. Reserve providers pay Ergo’s native currency (ERG) to mint reserve coins which represent the underlying collateral. Users of the stablecoin can also deposit ERG into the reserves in order to mint AgeUSD, it explained. This is only allowed by the protocol if there are enough reserves above its reserve ratio. Banks use a similar method to loan out funds.


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The Cardano partnership will also enable its native token, ADA, to be used as collateral to mint reserves. However, the potential downside is that the stablecoin is only backed by these two assets whereas Dai is backed by multiple cryptocurrencies.

AgeUSD will launch on Cardano when it rolls out the Alonzo update that ushers in Plutus powered smart contracts. This is expected in the latter half of this year according to the roadmap.

Cardano ADA Price Update

As the long-awaited update nears, ADA prices have been cranking to new highs, the most recent ATH being $1.55 on April 14. At the time of writing, ADA was trading up 2% on the day at $1.45 according to Coingecko.

It is the sixth largest cryptocurrency by market cap which currently stands at $46 billion and there are 32 billion tokens in circulation. The token was briefly flipped by Dogecoin but has regained its position in the charts, just below Tether.

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptopotato.com/ageusd-to-launch-as-first-stablecoin-on-cardano-network/

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Blockchain

How sustainable is YFI’s current price run?

Republished by Plato

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The past week saw a lot of growth across the cryptocurrency market, with Bitcoin and Ethereum seeing their values pushed towards new all-time highs. However, it is safe to say that the digital assets market is no longer just about the top two cryptos in the market, with DeFi coins such as YFI registering significant gains on the charts.

Over the past 6 months, YFI has seen its price hike by over 520 percent. Now, while this looks extremely promising for the alt, the truth seems to be in yet another shade of grey. The price hike from over $11k in November 2020 to its press time valuation of $48,415 has been less than straightforward.

Akin to many other altcoins in the market, YFI  too has endured extended periods of the price going back and forth. However, given the current market scenario, how sustainable is YFI’s current price or is history going to repeat itself in the form of yet another short-term price correction?

Interestingly, data provided by Santiment highlighted that despite the bullish nature of the YFI market, there may be a bit of FUD finally creeping into the market as the price continues to remain close to the $50k-level. In such a scenario, what YFI really needs is a strong level of support for the price if bearishness is to soon hit the market.

Source: Santiment

Taking a look at a few of the key fundamentals can provide more clarity on where the price is likely to head in the coming weeks. According to data provided by Santiment, YFI’s supply on exchanges has been stagnant for a while and hasn’t been increasing. While fewer coins in exchanges are normally a good sign of hodling, in the case of YFI, if one were to take a look at past precedents, the price decline began as soon as the supply hit a stalemate.

Source: Santiment

Additionally, the analytics platform also pointed out that the current price rally began with low on-chain activity for the coin. However, over the past few weeks, a trend reversal has emerged, with on-chain activity noting a surge and the price continuing to be inversely relational to it.

With the price inching closer to its ATH, there is always the question of price discovery. YFI seemed to be lacking in this regard, at press time. The coin’s MVRV, as per Santiment’s data, placed it in the danger zone and prime for a new trend reversal, one that can induce a short-term price correction.

Source: Santiment

In the coming days, if the price correction does set in, YFI’s $44k-price level may end up being a key support level for the coin. However, if this level is flipped to resistance in the coming weeks, a lot of the upward momentum and price surge YFI saw over the past few months might be undone.

This, once again, will result in YFI’s price continuing its current trend by which the coin will be subject to strong ‘push and pulls’ at regular intervals.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://eng.ambcrypto.com/how-sustainable-is-yfis-current-price-run

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Blockchain

EOS, Synthetix, Maker Price Analysis: 16 April

Republished by Plato

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EOS can be expected to find strong support around the $6.8-zone. If Bitcoin stabilizes above the $60.5k-area, altcoins could have a chance of recovery in the coming days. Otherwise, it would be further selling pressure across the market. Synthetix and Maker posted gains over the past few days, but were likely to retrace a significant portion of their value.

EOS

EOS, Synthetix, Maker Price Analysis: 16 April

Source: EOS/USDT on TradingView

EOS was trading within a rising channel, and the past few hours saw the price test the upper boundary of the channel before falling lower.

The mid-point of the channel was ceded to bearish pressure. A region of demand lay just above the $6.8-mark. The confluence with the channel’s lower boundaries could serve as strong support for EOS.

The RSI was back at neutral 50 and would drop lower to signal a shift in momentum to bearish over the next day or two, especially if EOS closes a session under $6.8. This could see EOS fall further to find support at $5.6.

Synthetix [SNX]

EOS, Synthetix, Maker Price Analysis: 16 April

Source: SNX/USDT on TradingView

Synthetix ascended past the $21. 4-level of resistance, but its retest of the same level on the back of strong selling forced the price to drop to $20.7 and could drop further. On the 4-hour, the Supertrend indicator continued to give a buy signal that would only be flipped to sell on a session close under the $19.5-level.

The 20 EMA and 50 EMA (white and yellow respectively) highlighted the bullish momentum behind SNX in recent days, with the price not sinking under these moving averages yet.

The OBV was on an uptrend and suggested that the recent spate of selling was reactionary fear, rather than sustained selling.

Maker [MKR]

EOS, Synthetix, Maker Price Analysis: 16 April

Source: MKR/USDT on TradingView

Two sets of Fibonacci retracement levels were plotted to highlight some levels of importance for MKR. $2,400 is a level that MKR had been stuck under from late February till the past week. The surge past this level in recent days has been rapid, and the price did not stop at many areas to mark it as support or resistance.

As such, the move back down could be almost as rapid, and some of the Fib levels laid out possible areas of support for MKR.

The MACD was correcting lower after the MACD line rose high above the Signal line to indicate overbought market conditions.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://eng.ambcrypto.com/eos-synthetix-maker-price-analysis-16-april

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