Trading volume, tools, altcoins, regulated DeFi and security solutions will continue to shape the institutional crypto market.

BTC and altcoins flashed bullish this week, but the perpetual contracts funding rate and Tether premium reflect a lack of confidence from traders.

The International Monetary Fund (IMF) thinks central bank digital currencies (CBDCs) could be a better bet than crypto. Kristalina Georgieva, the managing director of the IMF, says in a new statement that CBDCs are gaining momentum after moving from conceptual discussions to actual experimentations. “Central banks are rolling up their sleeves and familiarizing themselves with […]

The post IMF Favors Central Bank Digital Currencies Over Crypto, According to Managing Director appeared first on The Daily Hodl.

Alchemy raises $200 million in a Series C round, Hashstack launches collateral protocol on Harmony, and Bunny Finance forms DAO after a hack — all coming to you in this week’s Finance Redefined.

[PRESS RELEASE – Singapore, Singapore, 10th February 2022] TRON DAO and BitTorrent Chain (BTTC) are launching the TRON Grand Hackathon 2022, registration begins on February 14th. The Hackathon is part of TRON DAO’s long-term efforts to promote the mass adoption of blockchain technology and innovative cross-chain solutions. The Hackathon’s primary goal is to empower developers […]

Key Takeaways FTX has become one of the world's biggest cryptocurrency exchanges in under three years. At the same time, Coinbase has continually listed...

Recently, Wells Fargo had stated that cryptocurrencies could be hitting an “adoption inflection point,” comparing it to the internet adoption in the 1990s. In another report, examining crypto trends for 2022, Ripple has noted, “There are high expectations within institutions for wide scale adoption and impact of blockchain technology, cryptocurrencies, and Central Bank Digital Currencies […]

The Central Bank of Kenya (CBK) has released its discussion paper on the possibility of a central bank digital currency (CBDC) and is now awaiting feedback from the public regarding the potential benefits and risks associated with it along with the regulatory concerns. Those willing to participate have until May 20, 2022, to submit their comments. In a discussion paper examining the potential use of a digital currency, the central bank said that CDBC solutions could flatten the multi-layered correspondent banking structure and shorten the payment chains. “This discussion paper is part of CBK’s initiatives to ensure informed policy review regarding financial sector innovations. CBK invites the public, industry and stakeholders to review this discussion paper on CBDC and provide feedback and ideas to be considered when assessing the use case for CBDC in Kenya,” it said. According to the financial institution, a CBDC could potentially shield the public from the risk of new forms of private money by providing safer and more trustworthy payment services in comparison to the new forms of money such as stablecoins. Overall, CBDC also presents an opportunity for cyberattacks and other security threats, including data privacy issues. Nigeria became the first country in Africa to launch its central bank digital currency (CBDC), in October last year while Ghana is at the advanced stage of launching its digital currency. Similarly, Zambia is also carrying out research on CBDCs. Currently, Kenya ranks 5th in the 2021 Global Crypto Adoption Index, according to blockchain analysis firm Chainalysis. As of June 2019, 91 countries are currently involved in sovereign digital currency research with just 14 advancing to the pilot stage, according to the Atlantic Council . Overall nine countries have already implemented a CBDC.

The post Kenya Releases Discussion Paper on CBDCs appeared first on Cryptoknowmics-Crypto News and Media Platform.

Ripple partners with Digital Euro Association (DEA). The Partnership involves knowledge sharing for European CBDC. Ripple will update the design

The post has appeared first on thenewscrypto.com

Seoul, Korea, Feb 11, 2022 - (ACN Newswire) - Recently, Tower Finance is proud to announce the Launch of its Algorithmic Stablecoin. Algorithm-based stablecoins are new variants of cryptocurrency tailored for offering improved price stability. In the current market today, more and more users have taken interest, as it can also help in balancing the supply and demand of the asset in circulation.

Algorithmic Stablecoin Protocol, developed by Tower Finance, looks to offer considerably improved capital efficiency in comparison to collateralized stablecoins.

What is Tower Finance?

The Tower Finance is a Fractional-Algorithmic Stablecoin, soft-pegged to the U.S. Dollar, built on the Polygon network. The protocol plans to maintain TWR price stability by storing sufficient collateral in the time locked-smart contracts. The USDC is deposited into the protocol when a user mints TWR token, while the CUBE token, which is used for minting, is burned. When the user redeems TWR tokens, the protocol pays back USDC and mints the required amount of CUBE tokens. This allows arbitrageurs to help maintain price stability.

Aiming to solve the 'Stablecoin trilemma'

Tower Finance aims to provide a solution for the so-called 'Stablecoin trilemma' of decentralization, capital efficiency, and price stability by introducing TWR, its fractional-collateralized algorithmic stablecoin. Tower Finance aims to build an ecosystem that incorporates both collateral and high capital efficiency, hence developing stability.

By implementing a floating collateralization ratio, TWR not only maintains its peg in the most efficient manner possible, but it also captures value for CUBE holders and produces yield for its community of holders.

Implementing DeFi 2.0 through Protocol Owned Liquidity and Protocol Rented Liquidity

Tower Finance is the first algorithmic stablecoin protocol to adopt the 'Protocol Owned Liquidity' model introduced by OlympusDAO. While the structure is different, the underlying idea is similar. The protocol charges a penalty to users who terminate the vesting terms for the farming rewards. When this happens, the protocol uses 2/3 of the collected penalty for providing liquidity. Half of it is converted to USDC and used to provide liquidity. The leftover, which amounts to 1/3 of the collected penalty, is sent to the Profit Manager.

When TWR is minted with USDC and CUBE, the protocol doesn't immediately burn CUBE. Instead, 50% of CUBE is sold to temporarily create a CUBE-USDC LP to provide additional liquidity. We call this 'Protocol Rented Liquidity', because the meant-to-be-burnt tokens are borrowed for a short period of time to add liquidity to Tower's ecosystem until it is removed via governance decisions, in which case, the USDC is converted into CUBE and burned.

With a commitment for long-term sustainability yet a market fit, ultra high-yield/yield enhancement go-to-market strategy, it is perfectly destined to pave the way for stablecoin protocols in the era of DeFi 2.0

Tower Finance officially launches on Valentine's Day: 14^th of Feb, 6:00am UTC.

https://medium.com/@tower_finance/calling-all-towerians-the-time-has-come-2fa7fe9a24fc

Social Links
Twitter: https://twitter.com/tower_finance
Discord: https://discord.com/invite/KVTe6hRZK8
Medium: https://medium.com/@tower_finance
Github: https://github.com/towerfinance

Media Contact
Brand: Tower Finance
Contact Jeremy Parker, Head of Marketing
E-mail: [email protected]
Website: https://towerfinance.io/

SOURCE: Tower Finance

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.com

Kenya's central bank highlighted CBDC's merits and asked the broad public to express their viewpoint on the financial product.

Ever since Facebook, now Meta, launched the Libra (Diem) project in 2019, in partnership with twenty or so other companies, including MasterCard and Visa, nation-states worldwide have been in a hurry to develop digital versions of their sovereign currencies, also known as Central Bank Digital Currencies, or CBDCs for short.

The post Digital euro bill set to come in early 2023 appeared first on CryptoSlate.