“eToro has begun a new initiative that uses yield farming to hand out free crypto-backed stablecoins. Called GoodDollar, the project will create and issue a stablecoin ($G) that can be distributed daily to registered users as a form of universal basic income (UBI). At launch, each $G token will be backed by dai (DAI) stablecoins.
The UBI model is sustained by supporters who deposit underlying assets onto the platform and then yield farm on supported decentralized finance (DeFi) protocols, like Compound or Aave. Some of the accrued interest is then handed back to supporters, with the rest used as collateral for new $G tokens that are distributed each day.
GoodDollar says hundreds of new wallets have been created in countries like South Africa and Nigeria, as well as Venezuela. ‘Over 100,000 G$ have been distributed to over 250 users during the course of a two-week trial.'”
“Cosmos and Nym have partnered to bring anonymous credentials to the Cosmos blockchain ecosystem.
Anonymous credentials are a way for users to obtain certain credentials or attributes from an issuer on a blockchain, without sacrificing any unnecessary privacy. In other words, these credentials represent the difference between a user providing their exact age, or being able to guarantee their age is over 18—without sharing their age or birthday.
One advantage of anonymous credentials is achieving compliance with KYC and AML requirements without requiring the user to provide any unnecessary information. Through the use of Nym credentials, the Cosmos ecosystem can now strike a better balance between regulatory requirements and user-demand for privacy.“
“The growth of active decentralized autonomous organizations (DAOs) is accelerating, increasing from 10 last year to around 76 today.
The recent decentralized finance (DeFi) boom has given renewed importance to DAOs as a critical component of the cryptocurrency ecosystem, with many projects seeking to distribute governance voting rights among their users.
mStable is the top-ranking project by assets under management and capital flows, however, it ranks poorly by membership and proposals — with just nine members having voted on 29 proposals in total.
By contrast, dxDAO ranks second by proposals with 268, and third for membership, with 428, despite having less than 10% of mStable’s AUM.”
See Also: DeepDAO
“The firms will leverage privacy-enhancing zero-knowledge proof technology to enable institutional trading firms to cross-margin and bilaterally trade derivatives “without compromising security.”
Trading bilateral derivatives using X-Margin’s system allows investors to benefit from trading at different venues from one pool of collateral.”
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“Indian tech giant Tech Mahindra announced Monday it will offer blockchain solutions built on Amazon-managed blockchain to global customers.
The company will provide solutions for the aviation, telecom and health-care supply chain and is planning to roll out support for multiple industries, including oil and gas and manufacturing.
Our collaboration with AWS will support future pandemic preparedness and accelerate an economic rebound post-COVID-19 for organizations operating global supply chains and eliminate siloes.”
“Daily searches for ‘DeFi’ on the popular Chinese social media platform WeChat spiked to a new all-time high on September 2 of nearly 900,000 — nearly doubling the previous record of 500,000.
On September 7, Chinese journalist Colin Wu reported that many local exchanges were suffering from liquidity issues amid wholesale withdrawal from customers looking to cycle funds into DeFi protocols.
Wu posted charts indicating that many Chinese traders who bought the recent drop in the price of Ether (ETH) had quickly moved to transfer their assets to decentralized exchanges (DEX) for yield farming.”
“Just Eat, a major British online food order and delivery platform operating across 13 countries, has added cryptocurrency payment support for its France subsidiary.
The company has partnered with the cryptocurrency payment provider Bitpay to allow its users to pay in Bitcoin (BTC).”
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“The U.S. and China are still delivering the largest transaction volumes, but putting aside the largest “whale” crypto holders, Ukrainians, Russians and Venezuelans are the most active retail users of digital currencies. hey are followed by China, Kenya and the U.S.
Ukraine and Russia are actively using crypto to send money for business-to-business and cross-border transactions, avoiding cumbersome banking regulations. In Venezuela, people use crypto more for savings and peer-to-peer trading.
Looking at the share of the transfers greater than $100,000, we noticed that over the past year the share of the overall activity in North America that is professional has been growing.”
“A MakerDAO (MKR) governance proposal enacted on Tuesday set interest rates on most assets, with the notable exclusion of Ether (ETH), back above 0%.
As of press time, DAI is trading for $1.03, a significant deviation from its intended price.
One possible reason for the sudden de-peg is the wider market tumble seen since early September. Just as ETH and other cryptocurrencies began a steep decline on Sep. 3, DAI supply went down, while its price went up. A likely explanation for this is that borrowers and debt liquidators rushed to purchase DAI in order to keep the system over-collateralized.”
“Singapore-based blockchain data firm CyberVein has become one of 12 firms participating in the construction of China’s Hainan Wenchang International Aerospace City.
Described as “China’s first aerospace cultural and tourism city,” it will be a hub for the development of aerospace products and support services intended for use in Chinese spacecraft and satellite launch missions.
According to a CyberVein release, Smart Brain is its primary project, a “data-driven governance system” based on the firm’s proprietary technology that will process real-time data to ‘organize urban public resources.‘”
“Google stifles or blocks consumers’ ability to download app stores and apps directly from developers’ websites. The 30% payment surcharges for in-game purchases are absurd.
Epic is not interested in any side deals that might benefit Epic alone while leaving Google’s anti-competitive restraints intact; instead, Epic is focused on opening up the Android ecosystem for the benefit of all developers and consumers.”
“So far, about $46 million CAD (around $35 million U.S.) has been recovered, according to the Ontario Securities Commission, far short of the nearly $200 million customers are supposedly owed.
The Kroll/Coinfirm partnership will use a combination of professionals as needed with experience in cryptocurrency, asset tracing/searching, asset recovery, fraud investigations, and data analytics.”