Monday, January 30, 2023

Crypto securitization platform GenTwo links to all Coinbase assets

GenTwo Digital, the crypto-asset securitization platform based out of Crypto Valley in Zug, Switzerland, today announced a partnership with Coinbase, the publicly-listed cryptocurrency platform.

This new partnership for GenTwo Digital allows all Coinbase crypto assets to be wrapped in bankable financial investment products and enables financial intermediaries to issue certificates such AMCs (Actively Management Certificates). Any financial intermediary can create white-labeled investment products in collaboration with GenTwo Digital and execute them via Coinbase’s platform.

“Through this partnership, GenTwo and Coinbase are not only providing a secure institutional gateway to crypto assets but also helping GenTwo to fulfill our mission of expanding the investment universe while creating a more open financial system for the world.”
– Lucas A. Ereth, Managing Partner at GenTwo Digital

Coinbase offers an integrated platform built for institutions to support the entire transaction lifecycle including advanced multi-venue agency trade execution for 200 assets, custody for more than 360 assets, financing, staking and staking infrastructure, data and analytics, and reporting.

Institutions can access Coinbase Prime directly via a user interface or as an integrated platform via APIs to offer crypto-related products such as ETPs and ETFs, custodial solutions, or brokerage for their institutional, private wealth, and retail clients.

“We’re excited to collaborate with GenTwo to enable any authorized financial advisor and financial intermediary in Switzerland to provide access to crypto underlyings to their clients via passive and actively managed certificates. These instruments will benefit from execution services through Coinbase’s multi-venue execution platform, and assets will be held 1:1 in segregated cold wallets for optimum security.”
– Guillaume Chatain, Head of EMEA Institutional Sales at Coinbase

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* This article was originally published here

Friday, January 20, 2023

Crypto derivatives exchange Deribit releases new client verification of assets tool

Deribit, the popular cryptocurrency derivatives exchange, announced today it has launched a new ‘Proof of Reserves‘ tool for clients using the trading platform. Now, clients are provided with the functionality to verify their assets to be included in Deribit’s overall reserves.

How it Works

  • Deribit provides all addresses for all on-chain assets and it delivers a daily file with all liabilities (all client balances) in a hashed way. Note, assets held by third-party custodians cannot be included in the report as they are not under Deribit’s direct control. Therefore, the data file that is fully accessible to all interested parties only contains the accounts that hold assets on Deribit.
  • Clients get a key allowing them to find their balances in the overall file and can be certain their assets are covered with Deribit’s on-chain balance.
  • All code used to create Deribit’s modified Merkle Tree is available so clients can verify the accuracy of the frontend data. To prevent the same nonces from being assigned to different users with comparable asset levels, reducing the size of liabilities, Deribit gives each account a unique ‘Proof ID’. A client can convert the ‘Proof ID’ into the identifiers found in the daily snapshot file and shown in the verification section of the Proof of Reserves page.
  • The aggregate of the assets included in the asset file should always be less than the aggregate of assets available on-chain. The difference is the Deribit reserve ratio, which includes the insurance funds and Deribit revenues. If the total on-chain balance is higher than the asset file balance (visible in the front end and in the file itself), then Deribit has Proof of Reserves.

The post Crypto derivatives exchange Deribit releases new client verification of assets tool appeared first on CryptoNinjas.



* This article was originally published here

Thursday, January 19, 2023

Blockchain ecosystem ThunderCore teams with Huobi and MyCointainer in node expansion

ThunderCore, a leading blockchain & web3 ecosystem announced today that they are making a new development push, partnering with new validators as the chain rolls out its new crypto staking model.

The newest ThunderCore validators include the famous crypto-asset exchange Huobi and one of the earliest staking platforms in the space, MyCointainer. Users of both will now be able to stake ThunderCore’s native asset TT to earn rewards.

Unlike proof-of-work (PoW) blockchains like Bitcoin, ThunderCore is an environmentally friendly proof-of-stake (PoS) chain, which means that its consensus mechanism for validating transactions is based on incentivized crypto staking.

ThunderCore’s new PoS staking model, also known as ThunderCore 2.0, will dramatically increase both user staking and validator nodes.

Such decentralization is crucial to secure PoS chains like ThunderCore, which must withstand coordinated attacks by malicious actors seeking to control two-thirds of the network while adding more trustworthy validators also improves scalability and accelerates user growth.

Validator Expansion

As a new partner, Huobi will implement and maintain a ThunderCore node, further securing the ThunderCore ecosystem. Additionally, Huobi’s tens of millions of users will have access to ThunderCore PoS staking, while TT will be available to stake on Huobi Earn.

On top of operating a node, MyCointainer will allow for deposits and withdrawals on the platform. MyCointainer users will have access to TT trading pairs against BTC, USDT, and other major cryptos and fiat pairs.

The expansion of the validator network represents a significant step forward for ThunderCore, solidifying its position as a leading blockchain.

DeFi Outreach

With the new ThunderCore 2.0 PoS staking model, the popular blockchain has overhauled its tokenomics, aiming to become a bigger DeFi player in the years to come. Having already nurtured its native DeFi ecosystem, the ThunderCore developers are now seeking to court top DeFi protocols such as Curve Finance, AAVE, SushiSwap, Stargate, and many others.

The ThunderCore team has begun this effort by making overtures to the leading DeFi projects.

Diversifying ThunderCore’s native DeFi ecosystem allows the team to build a brighter future with the support of the project’s multi-chain feature, decentralization, and community-driven economics.

The team offers ThunderCore’s user-retention and mass-adoption strategy (over 400K monthly active users), one-stop-shop TT Wallet, high levels of interoperability, extensive partnerships, and a range of developer incentives and tools, among other points.

Corresponding proposals are in the works for the other major DeFi protocols.

Future Plans

ThunderCore will continue to welcome new validators to its PoS network. This aligns with the team’s commitment to providing a secure and decentralized platform for its users.

Adding new, reputable organizations to the validator network enhances the security of the blockchain, making it a top choice for decentralized applications. Meanwhile, increased staking rewards under the new tokenomics are a tangible benefit to the community that furthers the same goals.

Also, ThunderCore will be encouraging more DeFi projects to open up shop. The high-performance chain offers many benefits for DeFi, including sub-second transactions, gas fees at a fraction of a cent, and massive scalability.

Some features listed below make ThunderCore an ideal home for DeFi developers looking to build and grow on a reliable and secure network.

  • ThunderCore for Developers – ThunderCore is among the most hospitable homes for developers in the Web3 industry. The company has long believed that if you attract the best developers, then the users will follow. To that end, they have made various efforts to nurture their developer community:
  • ThunderGene API Tool – ThunderCore’s groundbreaking API tool allows for the easy integration of Web3 features into Web2 apps. With ThunderGene, it’s possible to create non-fungible tokens (NFTs) and fungible tokens inside a Web2 app while outsourcing the burden of wallet security to the cutting-edge TT Wallet.
  • $100M Web3 Fund – Along with partners 886 Studios and Outliers Fund, ThunderCore maintains a $100M fund to assist those who would like to build decentralized applications on its chain.
  • Developer Growth Fund – In addition to the $100M Web3 Fund, ThunderCore also operates a Developer Growth Fund, which is about to undergo a major update. The fund guides projects to completion with technical, promotional, financial, and operational assistance.

The post Blockchain ecosystem ThunderCore teams with Huobi and MyCointainer in node expansion appeared first on CryptoNinjas.



* This article was originally published here

Sunday, January 8, 2023

DeFi protocol Pods raises $5.6M to support its structured crypto products dApp

Pods, creators of a DeFi platform, announced today that earlier this year, the team raised $5.6M in seed funding to create structured products for crypto-assets. The financing featured investors such as IOSG, Tomahawk, Republic, Framework Ventures, and more.

The first strategy on Pods Yield is stETHvv (Ethereum Volatility Vault). stETHvv is a low-risk product focused on ETH accumulation. It combines Lido’s yield with weekly strangles to earn more every time the ETH price bounces up or down.

Currently, Pods platform users can deposit ETH and stETH into the vault stETHvv (short for stETH Volatility Vault) and be exposed to a low-risk, complex-to-execute strategy in one click.

“At Pods, we are proud of what we have achieved and thrilled to continue building the future of DeFi. I am honored to announce that we have completed a $5.6 million seed round. The Pods team is excited about this next stage of building world-class structured products for crypto assets. We have talked to hundreds of stakeholders to understand their needs and improve our platform according to their feedback. Recently Pods did four security audits on its Pods Yield product, two of them with OpenZeppelin in November and December 2022. We are not only generating results but have developed a range of products dedicated to assisting DeFi protocols to diversify their treasury into low-risk strategies, making their treasury strategy more resilient”
– Rafaella Baraldo, Founder & CEO of Pods

Today, most DeFi yield strategies depend on liquidity mining campaigns, incur a hard-to-estimate risk, and most use spot markets. Pods foresee opportunities to set up automated derivatives strategies independent of liquidity mining. Risk and return analyses are transparent and quantitative.

As a DeFi protocol, Pods presents an alternative to yield on crypto-assets as opposed to CeFi lenders. Pods Yield is a series of open-source smart contracts that algorithmically runs a known investment strategy, receive deposits, and process withdrawals.

The post DeFi protocol Pods raises $5.6M to support its structured crypto products dApp appeared first on CryptoNinjas.



* This article was originally published here

Sunday, January 1, 2023

Crypto derivatives exchange Deribit releases new client verification of assets function

Deribit, the popular cryptocurrency derivatives exchange, announced today it has launched a new ‘Proof of Reserves‘ tool for clients using the trading platform. Now, clients are provided with the functionality to verify their assets to be included in Deribit’s overall reserves.

How it Works

  • Deribit provides all addresses for all on-chain assets and it delivers a daily file with all liabilities (all client balances) in a hashed way. Note, assets held by third-party custodians cannot be included in the report as they are not under Deribit’s direct control. Therefore, the data file that is fully accessible to all interested parties only contains the accounts that hold assets on Deribit.
  • Clients get a key allowing them to find their balances in the overall file and can be certain their assets are covered with Deribit’s on-chain balance.
  • All code used to create Deribit’s modified Merkle Tree is available so clients can verify the accuracy of the frontend data. To prevent the same nonces from being assigned to different users with comparable asset levels, reducing the size of liabilities, Deribit gives each account a unique Proof ID. A client can convert the Proof ID into the identifiers found in the daily snapshot file and shown in the verification section of the Proof of Reserves page.
  • The aggregate of the assets included in the asset file should always be less than the aggregate of assets available on-chain. The difference is the Deribit reserve ratio, which includes the insurance funds and Deribit revenues. If the total on-chain balance is higher than the asset file balance (visible in the front end and in the file itself), then Deribit has Proof of Reserves.

The post Crypto derivatives exchange Deribit releases new client verification of assets function appeared first on CryptoNinjas.



* This article was originally published here

These Cryptos Have MASSIVE Potential?! ETH Layer 3 Explained!

* This article was originally published here