The Biden Administration's secret crypto strategy is becoming clear: it wants to force stablecoin issuers into the arms of big banking.

After Tesla CEO Elon Musk and Dogecoin ($DOGE) co-creator, Billy Markus, pushed McDonald’s to accept the meme-inspired cryptocurrency as a payment method, one of its rivals has said it will work on accepting DOGE if Musk does something for it. As CryptoGlobe reported, Musk said on social media he would eat a Happy Meal on […]

As the NFT and Metaverse gaming space continues to make leaps and bounds in 2022, we are slowly witnessing the evolution of the gaming space – not only in terms of story, character and gameplay, but also the underlying economies which form the financial foundations of a given project.  One example of this is Wizardia. […]

Never bother to read the privacy policy when signing up for a cryptocurrency exchange? Maybe you should. For Privacy Week, CoinDesk reviewed the privacy policies and notices of 24 major crypto exchanges and lending services to see how much they know about users and how transparent they are about it. The two dozen companies represent…

The post Before You Click ‘I Agree’: How Binance, Coinbase and 22 Other Crypto Exchanges Handle Your Data appeared first on Bitcoin News Miner.

Discover the most important AR/VR trends for 2022 and their impact on the way we live, work, shop, and discover entertainment opportunities.

The game-theoretic aspect of Bitcoin adoption is shown as politicians around the world race to establish the most welcoming place for the industry.

The crypto industry has been hit with a rise in cyber attacks from an increasingly audacious underworld of shady cypher crooks, and for more than 10 million active user wallets MetaMask lead developer Dan Finlay represents the guardian angel shielding...

Beginners in the cryptocurrency industry are often afraid of the risks associated with it. Besides price volatility, the users often face the danger of their wallets being hacked, causing irreparable losses.

Key Takeaways The NFT space has attracted many scammers and hackers as it has grown. Collectors should consider using hardware wallets to store...

On Wednesday (January 26), Charles Hoskinson, Co-Founder and CEO of IO Global (aka “IOG”, formerly known as “IOHK”), the company responsible for building Cardano ($ADA), said that he was “really looking forward” to an upcoming DEX from Slovakian FinTech startup Vacuumlabs. History of Vaccumlabs’ Previous Apps for Cardano Vacuumlabs is “a software development company that builds modern […]

By Ximena Aleman, Co-CEO at Prometeo. The booming fintech industry across the globe raised $13.4 billion in the first quarter of 2021, as Covid-19 propelled fintech adoption. And as the sector thrives, swathes of women are coming forward as leaders, but they are still hugely underrepresented. However, in Latin America, where I co-founded an open banking platform, there are five times […]

The post The three challenges of being a female leader in fintech and how to overcome them appeared first on Fintech News.

Bern, Switzerland, Jan 27, 2022 - (ACN Newswire) - Cake Monster, a new decentralized finance (DeFi) protocol on the Binance Smart Chain (BSC), has announced a revolutionary supply burn for its token. From the onset, the team at Cake Monster has defined themselves as economic innovators. The economic and innovative model of the project combines a hyper-deflationary native asset ($MONSTA) with the acquisition of a non-correlated reserve asset ($CAKE). After approximately seven months, the protocol continues to put proof to the theory and is working beautifully.

The reserve is generated from a small transaction and proof of life tax (once every fifty days.) This ensures the continual and fair hyper-deflation of the total $MONSTA supply. The reserve is growing fast, with average monthly APYs well over 500% and over 188K $CAKE already in the vault. Over TWENTY percent (20%) of the total supply has been burned, amounting to over two billion $MONSTA tokens. This is an extraordinary achievement for a new protocol in the current market in such a small amount of time.

The Monster Supply Burn

With just under a year and a half to go until the end of the first cycle, the ongoing hyper-deflation (token supply burn) seems likely to make things very hot, driving the price of $MONSTA up as the supply shrinks. This, in turn, will increase the growth rate of the reserve and further increase demand for $MONSTA, potentially a volcanically virtuous cycle for token holders.

However, the platform does not stop there as the supply is also elastic. Once the first cycle is complete and the reserve contents are distributed to $MONSTA holders, a new cycle is triggered, and previous cycle holders will be reissued their $MONSTA. The re-issuance will be in proportion to their percentage of holdings at the end of the previous cycle. The heart of the protocol beats again; the hyper-deflation and reserve growth begin anew with remaining liquidity from cycle one added to the news cycle.

The Cake Monster platform is replete with incentives to earn, explore and have fun. Already deployed are; Crumbs, Kitchen Making, Cashout of inactive accounts, Diamond Claw NFTs, and the Monsta Party NFT and P2E platform (first to be launched and generated while in outer space... the video is extraordinary.)

About the $MONSTA Token

The monster token is a BEP-20 compliant token used within the Cake Monster ecosystem. The initial supply of the token is 10 billion. However, as a result of the monster burn, the final supply will be 1 million (0.1%) of the initial token supply. For the token distribution, 30% of the tokens will be utilized for community engagement, marketing, and airdrop, 10% for the team, 50% presale, and 10% for public sale.

Innovative Features of the Monster Ecosystem

- Single-sided $MONSTA staking
Once deployed, $MONSTA holders will be rewarded for their commitment, which may positively affect the market and growth rate of the reserve. The potential for centralized exchange listing is also increased due to simple technical solutions to the transaction tax being possible.

- Lottery
More than one lottery is under development but the first to be released is something the team dubbed "Eternal CAKE."

The Eternal CAKE lottery will enable active diamond claw NFT holders to mint a lottery ticket. The numbers will be drawn every three days. If a player wins, they will be able to claim their prize. If nobody wins, or the winner doesn't claim their prize, the $CAKE is added back to the pot for the next prize draw. This means the opportunity for some potentially juicy and large jackpots to be won.

Once you have minted (or purchased later from a marketplace) a lottery ticket, it never expires. In other words, it provides the owner with ongoing access to all future Eternal CAKE lottery draws.

- Rob-a-Monsta
This new addition to the Monsta Party NFT platform is a protocol feature called "Rob A Monsta" (RAM). It is a P2E (play 2 earn) game that will reward active Monsta Party players at the expense of inactive players.

All-Party Monstas that have ever been fed by their owner continually accrue $MONSTA dividends, even if never fed again. However, active players (those feeding their Party Monstas) will be able to claim any pending $MONSTA dividends for Party Monstas not being fed by initiating a "robbery."

- Multi-asset vault
After a recent vote of community members, which returned an overwhelmingly positive result in favor, a new reserve asset (BNB) will be added to the protocol, making it multi-asset. This is expected to provide significant additional resiliency and further collaboration and community growth opportunities.

About Cake Monster

Cake Monster ($MONSTA) offers a multitude of great features aimed at building a flexible, multifaceted, and automated dividend yield and reward system for participants without compromising the sustainability or security of the protocol ecosystem, and combines this with smart design, creativity, and organic growth, resulting in a very vibrant and engaged community.

Cake Monster may look like a meme at first glance, but behind the stunning artwork and fun, whimsical nature is an economic model with significant and powerful innovation. It has attracted many knowledgeable minds and a passionate and engaged community. Innovation within the project is rapidly accelerating, with incoming developments and deployments representing only a small part of what is to come. An incredibly comprehensive and efficient PR and marketing campaign strategy has been developed to maximize awareness, growth potential, discussion, education, and utility of the core protocol and all future deployments. With these building blocks and ambition to match, this project is worthy of attention and deep analysis.

About Cake Monster

Cake Monster ($MONSTA), a DeFi protocol on Binance Smart chain, offers unique features focused on developing a flexible, multifaceted, and automated dividend yield and reward system for participants. It's the first protocol to design an increasing Gravity Vault CAKE Reserve that opens up to all $MONSTA holders and rewards them with $CAKE.

For more information, visit
Website: https://cake.monster/
Twitter: https://twitter.com/MonstaPartyNFTs
Telegram: https://t.me/cakemnstr
Reddit: https://www.reddit.com/r/CAKEMONSTER/
Medium: https://cakemonster.medium.com/

Media Queries
Byron James, Cake Monster Media Office
Email: [email protected]r

SOURCE: Cake Monster

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comCake Monster, a new decentralized finance (DeFi) protocol on the Binance Smart Chain (BSC), has announced a revolutionary supply burn for its token.