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Kyber Network Readies Massive DeFi Protocol Overhaul

The revamps and updates are coming thick and fast in the burgeoning DeFi ecosystem. Kyber Network is the latest to announce a massive overhaul of its protocol architecture. The Kyber 3.0 upgrade will transition the network from a single protocol into a hub of purpose-driven liquidity protocols that are catered to different DeFi use cases, … Continued

The post Kyber Network Readies Massive DeFi Protocol Overhaul appeared first on BeInCrypto.

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The decentralized finance automated market maker, Kyber Network, is preparing to launch its third iteration which entails a ‘massive overhaul.’

The revamps and updates are coming thick and fast in the burgeoning DeFi ecosystem. Kyber Network is the latest to announce a massive overhaul of its protocol architecture.

The Kyber 3.0 upgrade will transition the network from a single protocol into a hub of purpose-driven liquidity protocols that are catered to different DeFi use cases, as noted by the blog post.

It added that the overhaul will be the biggest change to its architecture and token model since inception. Version 3.0 will be implemented over two phases called Katana and Kaizen.

What’s Expected from Kyber 3.0?

As part of the upgrade, Kyber plans to launch a brand new liquidity protocol called the Kyber DMM, which it claims is DeFi’s first automated Dynamic Market Maker.

“Kyber DMM will provide important benefits to liquidity providers, allowing fully permissionless liquidity contribution from anyone and access to this liquidity by any taker (e.g. Dapp, aggregators, end users).”

There are also plans to upgrade the KyberDAO and KNC, which launched staking services in July 2020, to a new token contract that will be made and voted on through its governance system. This will “enhance the token’s governance power, create multiple streams of utility, and support new liquidity innovation.”

The existing network enables on-chain scanning of available liquidity providers which it calls ‘reserves.’ In order to rapidly capture DeFi trends, this architecture will be overhauled to form a “hub of diverse, purpose-driven liquidity protocols catered to different DeFi use cases.”

Kyber is also expanding its liquidity provision options which will be of most interest to yield farmers. Most of this will be associated with the new DMM which will react to token pairs and market conditions to optimize fees for liquidity providers and rates for takers.

There will also be a pro version for the whales and much-needed gas cost reduction mechanisms will also be included in the upgrade.

The first Katana phase, expected in Q1-2, will launch the Kyber DMM with a proposal for a KyberDAO and KNC upgrade. The subsequent Kaizen phase and the entire Kyber 3.0 upgrade is expected to be completed by late Q3 2021.

KNC Price Update

Kyber’s native KNC token has defied the crypto market dump today, and is up nearly 10% since this week’s open. KNC is currently trading for $1.34, up from $0.80 at the start of the new year.

KNC managed to reach $1.90 back in August 2020 but is still far off from its 2018 all-time high of $5.80.

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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Martin has been writing on cyber security and infotech for two decades. He has previous trading experience and has been actively covering the blockchain and crypto industry since 2017.

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Source: https://beincrypto.com/kyber-network-massive-defi-protocol-overhaul/

Blockchain

How Bexplus Apps Make Trading Crypto Futures Easier

Due to the ongoing lockdown, many of us get to stay home more often. While this is a good opportunity for us to relax, we can’t go to work and have to rely on our savings, which is frustrating and worrisome.  If you have been wanting to find a way to make money during lockdowns […]

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Due to the ongoing lockdown, many of us get to stay home more often. While this is a good opportunity for us to relax, we can’t go to work and have to rely on our savings, which is frustrating and worrisome. 

If you have been wanting to find a way to make money during lockdowns or in your spare time, online trading on your phone may be a great option for you. Crypto exchanges make trading more accessible to small investors with little experience or low budgets. This is especially true for futures trading, in which investors could borrow leverage from exchanges to increase their buy power. 

If you are interested in futures trading in the crypto market but aren’t familiar with the markets, you can learn a great deal about how to get started here. Simply put, futures trading enables you to profit from the ups and downs of the market, so any price swing could be an opportunity to profit. 

To get started trading, you only need to create an account on an exchange and now with easy-to-use phone apps like Bexplus‘, you can set up your account in minutes from nearly anywhere. Bexplus is a cryptocurrency trading platform providing 100x leverage on BTC, ETH, LOS, XRP and EOS. No KYC and no deposit fee, Bexplus offers services in 37 countries including the USA, Iran, Korea, and Sudan. 

According to App Annie, the largest mobile marketing app analytics and app market database in the world, as of May 2020 Bexplus’s apps have been ranked in the Top 5 of keyword search results related to bitcoin trading in 56 countries.

Let’s take a look at the Bexplus app to see what advantages it offers.

How Bexplus Apps Make Trading Crypto Futures Easier 2

On the home menu tab, besides market indexes (there are bitcoin, litecoin, and ether prices on the main display), we see constantly updating recent trades lists (which might show you the market sentiment and to open the correct position).

Also, Bexplus is famous for its detailed beginner’s guide and demo account, which enables you to practice as much as you like. 

The market tab offers 5 types of indicators which are available for the main chart and 11 for sub chart. Among the indicators are a bullish-bearish indicator, Bollinger bands, moving average convergence divergence, stochastic oscillator, and many more. No matter whether you’re a beginner or an advanced trader, Bexplus accumulates all the options needed for daily trading.

The market menu tab allows you to open long (buy/up) and short (sell/down) positions: before placing an order you’ll be asked to choose the position volume. Keep in mind that volume doesn’t refer to position amount, it’s rather a proportion of position size to your account balance, thus, 0.1 volume doesn’t suppose that you’re about to open a 0.1 BTC position, it will be just 0.001 BTC in size.

How Bexplus Apps Make Trading Crypto Futures Easier 3

The trade tab is basically an order management menu, where traders can browse currently opened market orders, limit orders, and trading history.

The indexes for each trade include floating profit and loss, the free margin available, currently used margin, margin level, and your balance account as for now with opened positions (net worth).

Bexplus also offers standard risk prevention instruments such as stop-loss, which is available by pressing on the specific order tab in the trades list.

Though looking quite simple, the Bexplus app is as full-featured as its desktop counterpart. Besides trading, you can store your bitcoin in the interest-bearing wallet, in which you can gain up to 30% annualized interest.  

Bitcoin trades around the clock and huge price swings could occur any minute. If you hope to monitor your account anytime and anywhere, the Bexplus app is the right tool for you. With the 24/7 notification, you can stay updated with the market.  All data and assets can be accessed through all kinds of devices including desktops, mobile phones, and tablets.

How Bexplus Apps Make Trading Crypto Futures Easier 4

Disclaimer. This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Cryptopolitan.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

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Source: https://www.cryptopolitan.com/how-bexplus-apps-make-trading-crypto-futures-easier/

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Blockchain

EIP-1559 get the nod for Ethereum’s London Hardfork

TL;DR Breakdown With complete official backing secured, the Ethereum Improvement Proposal (EIP)- 1559 looks certain to be included in the forthcoming London Hardfork scheduled for July.  However, while the development has been largely welcomed among developers and the users (who are the core stakeholders), there is a growing negative perception among Etheruem miners towards the […]

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TL;DR Breakdown

With complete official backing secured, the Ethereum Improvement Proposal (EIP)- 1559 looks certain to be included in the forthcoming London Hardfork scheduled for July.  However, while the development has been largely welcomed among developers and the users (who are the core stakeholders), there is a growing negative perception among Etheruem miners towards the proposal.

But Etheruem miners are the only ones in the opposition quarters. Mining pools participants together with hash power producers have met the initiative with equal reservations.

EIP-1559 prompted by high trx fees on ERC-20 networks

According to the developers, the proposal was formulated to specifically address the current situation where users are forced to commit unreasonably high percentage of transaction value as gas fees, before funds can be successfully sent. However, when the EIP-1559 is finally implemented, all of that would change.

Users only need to register their transaction by releasing a gas fee, which the network picks and automatically assigns to a miner who in turn inherits the obligation to process the transaction, while keeping the gas fee as the incentive.

The situation is even worse in the DeFi ecosystem, where the minimum amount required to execute trade swaps hovers around $4. That added with the scalability problem of Etheruem network has forced many DeFi projects to explore alternative blockchain networks.

 Miners’ revenue to be greatly affected

There are justifiable reasons why miners are all weary over the EIP-1559 initiative. From the onset of the current gas fee problem, daily records of profitability in miners’ revenue are being recorded, with the day-to-day average running into millions of dollars.

It is forecasted that the successful implementation of EIP-1559 will cause a 20%-30% reduction in miners’ earnings. Some observers have voiced concerns over the fact that miners might initiates a different hard-fork of the network to counter the impacts of the proposal.

 However it is generally believed that majority of miners won’t take that route as it could negatively affect the price of etheruem, thus plunging their earning deeper down the slope.

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Source: https://www.cryptopolitan.com/eip-1559-get-the-nod-for-ethereums-london-hardfork/

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Blockchain

When Consumer Meets Crypto

Three decades into the internet, we are faced with three fundamental realities: content creation rules the internet value flows primarily to centralized platforms platform censorship is on the rise Non-fungible tokens address the challenges presented by these realities. With non-fungible tokens, internet creators are given a mechanism to truly own their creations. NFTs are unique […]

The post When Consumer Meets Crypto appeared first on Blockchain Capital.

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Over time, we see NFTs expanding in two ways. First, is traditional products that use NFTs as a distribution channel and a new economic model. For example, NFTs can be used to retroactively distribute tokens to communities, as a way to reward early support. Tokens will be used to incentivize access, attention and user behavior. A few creators to embrace NFTs include Beeple the artist, Logan Paul the YouTuber and the NBA.

The second is the creation of digitally native experiences, centered on issuing, exchange, and using digital assets. These digitally native experiences may span games, music, art, writing and more. The potential is enormous. NFTs may become a key form of value capture on the internet, enabling consumer use cases we’ve never even imagined.

For a broader intro to the consumer opportunity, we recently created an intro presentation you can find here

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Source: https://blockchain.capital/when-consumer-meets-crypto/

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