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Blockchain Press Releases

OKX Announces Industry Leading 10th Consecutive Monthly Proof of Reserves

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  • August PoR shows USD$10.4 billion in BTC, ETH and USDT reserves
  • Online polls show 84% of respondents see monthly PoR as important and 88% of respondents state transparency is an important factor when choosing a crypto platform

HONG KONG, Aug. 30, 2023 /PRNewswire/ — OKX, a leading global Web3 technology company and crypto exchange, has published its industry-best 10th consecutive monthly Proof of Reserves (PoR), showing balances of USD$10.4 billion in primary assets.

To commemorate its 10th consecutive PoR, OKX conducted two Twitter surveys to measure the sentiment of the online community with regards to the importance of PoR and transparency. Poll results showed that 84% of respondents say monthly PoR reports are either ‘somewhat important’ or ‘very important‘ and 88% state that transparency is either ‘somewhat important‘ or ‘very importantwhen choosing which crypto platform to trust. With its August PoR, OKX has become the only major crypto exchange to release ten consecutive monthly PoR reports.

OKX’s PoR covers 22 commonly used digital assets and shows that OKX has maintained a reserve ratio exceeding 100% for ten consecutive months across all those assets. In addition to BTC, ETH and USDT, the assets included are: USDC, XRP, DOGE, SOL, OKB, APT, DASH, DOT, ELF, EOS, ETC, FIL, LINK, LTC, OKT, PEOPLE, TON, TRX and UNI.

OKX’s current reserve ratios are as follows:

  • BTC: 102%
  • ETH: 102%
  • USDT: 103%

OKX Global Chief Commercial Officer Lennix Lai said: “OKX’s ten consecutive monthly PoR snapshots have coincided with a 38% increase in assets under management on OKX, showing that our keen focus on transparency is resonating with users. We asked our community how important PoR and transparency from exchanges are to them, and the results were as expected – users continue to call for monthly PoR and greater transparency. At OKX we take user feedback to heart and will continue to invest in future tools for security and transparency in order to continue earning user trust.”

OKX has seen hundreds of thousands of users engage with its PoR, visit its PoR page and view their self-audits since first launching its PoR page in late 2022. The open-source verification tool allows users to independently verify OKX’s solvency and confirm their assets are backed by OKX reserves while maintaining their privacy.

OKX has published over 210,000 addresses for its PoR program, and will continue to allow the public to view its asset flows.

Users can view the latest PoR report, reserve ratios, and verify OKX’s solvency here.

ENDS

About OKX

OKX is a leading global crypto exchange and innovative Web3 company. Trusted by more than 50 million global users, OKX is known for being the fastest and most reliable crypto trading app for traders everywhere.

As a top partner of English Premier League champions Manchester City FC, McLaren Formula 1, Olympian Scotty James, and F1 driver Daniel Ricciardo, OKX aims to supercharge the fan experience with new engagement opportunities. OKX is also the top partner of the Tribeca Festival as part of an initiative to bring more creators into web3.

The OKX Wallet is the platform’s latest offering for people looking to explore the world of NFTs and the metaverse while trading GameFi and DeFi tokens. OKX is committed to transparency and security and publishes its Proof of Reserves on a monthly basis.

To learn more about OKX, download our app or visit: okx.com

Disclaimer

This announcement is provided for informational purposes only. It is not intended to provide any investment, tax, or legal advice, nor should it be considered an offer to purchase, sell, hold or offer any services relating to digital assets. Digital assets, including stablecoins, involve a high degree of risk, can fluctuate greatly, and can even become worthless. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition and risk tolerance. OKX does not provide investment or asset recommendations. You are solely responsible for your investment decisions, and OKX is not responsible for any potential losses. Past performance is not indicative of future results. Please consult your legal/tax/investment professional for questions about your specific circumstances.

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Cision View original content:https://www.prnewswire.co.uk/news-releases/okx-announces-industry-leading-10th-consecutive-monthly-proof-of-reserves-301913619.html

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Blockchain Press Releases

Aperture Finance Secures Series A Funding at a $250M Fully Diluted Valuation to Build Intent-based Architecture for DeFi

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 $APTR native platform token set for release on May 31, 2024

MOUNTAIN VIEW, Calif., May 29, 2024 /PRNewswire/ — Aperture Finance, a decentralized finance (DeFi) platform pioneering AI-powered intents, has raised a Series A funding round, bringing the total across all rounds to $12 million and valuing the project at $250 million. The round was led by top-tier venture capital firms including Skyland Ventures, Blockchain Founders Fund, and Krypital Group, with participation from notable investors like Alchemy, SNZ, Stratified Capital, Tide, Cipholio, ViaBTC, CatcherVC, and Double Peak. Previous rounds included participation from ParaFi Capital, Arrington Capital, Divergence, Blockchain Founders Fund, Laser Digital (Nomura Group), Skyland Ventures, Costanoa, Rarestone, Krypital Group, Big Brain Holdings, LD Capital, ViaBTC, Cipholio, Double Peak, Athena Ventures, Coinseeker, Artemis Capital, and AWS.

Aperture Finance is innovating the use of Intents, a novel approach designed to streamline complex DeFi operations. Unlike traditional transactional methods, Intents allow users to specify their desired outcomes, simplifying interactions with DeFi protocols and enhancing accessibility. This innovative system leverages Uniswap V3, enabling users to declare end goals, such as liquidity rebalancing at specific price points, with transactions executed only when these conditions are met. The platform is already live on 9 EVM-compatible chains, processing a transaction volume exceeding $2.7 billion with 280,000+ unique users and 15k+ daily active users.

“Intents architecture bridges the gap between sophisticated financial strategies and everyday DeFi users,” said Yonkuro, Head of Crypto at Skyland Ventures. “By enabling users to articulate their financial goals in natural language, Aperture is  making advanced DeFi tools accessible to a broader audience, from retail investors to institutional players.”

The platform’s decentralized network of solvers calculates optimal transaction flows, which are then simulated and ranked by Aperture’s smart contracts. Initially launching with a centralized solver, the network has expanded to third-party solvers including Propeller Heads and Enso Finance with other solvers like Tokka Labs set to join in Q3 2024.

Aperture plans to further leverage its Large Language Model (LLM) interface that will convert user intents expressed in natural language into a domain-specific language (DSL) that can be codified on-chain. This feature aims to ensure clarity and precision in user instructions, further democratizing access to complex financial instruments.

“Aperture Finance is committed to reducing the learning curve in DeFi and providing more strategic options for our users,” said Peter Tan, Head of Product at Aperture Finance. “Our goal is to offer the same level of execution and pricing typically reserved for large institutions, making DeFi more inclusive and effective.”

The new funding will support the development of Aperture’s Intents infrastructure, expand its solver network, and enhance the user experience with the forthcoming LLM integration. This investment underscores the growing confidence in Aperture Finance’s potential to transform the DeFi landscape.

Following a successful airdrop campaign with participation from over 300,000 users, Aperture Finance will launch its $APTR token on Bybit on May 31, 2024.

About Aperture Finance
Aperture Finance is a pioneer in AI-powered intents to enhance the DeFi experience. Featuring an IntentsGPT interface and an AI-driven smart solver simulation, Aperture’s native solver network provides any DeFi user with institutional-grade intelligence. Combining the brightest minds in technology and finance, the founding team includes alumni from Amazon Web Services and Google, Stanford, Cornell, and UC Berkeley, and Citadel, JPMorgan Chase, and AIG. Aperture was a cohort member of Most Valuable Builder V by Binance Labs and participated in CoinMarketCap (CMC) Accelerator and HK Cyberport Incubation Programs.

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Vitalik Buterin claws back crypto community’s right to redefine ‘inflation’

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Ethereum’s co-founder argues for the crypto community’s authority to redefine “inflation” as the expansion of currency supply, challenging conventional economic definitions and tackling misinformation.

Vitalik Buterin, one of the creators of Ethereum, has emphasized that the crypto community has already staked its claim to redefine the term “inflation.”

Buterin’s remarks were prompted by a post from digital media outlet Axios, which humorously suggested that “inflation” now refers to high prices rather than the traditional concept of rising costs.

Although the Axios post was presented in a lighthearted manner, Community Notes (CN) clarified that the definition of inflation remains unchanged.

Buterin’s response, posted on Farcaster, contested Axios’ interpretation of inflation by asserting that the crypto community has already reshaped the meaning of the term.

“[…] we already decided that it now just means ‘increase in the total supply of a currency’.”

Buterin’s rebuttal garnered support from other users on Farcaster, including former Coinbase employee Binji.eth.

Traditionally, inflation refers to the general increase in the price level of goods and services, resulting in decreased purchasing power as currency value diminishes.

However, Buterin’s argument suggests a cultural shift in the definition of inflation, proposing that ongoing global inflation arises from an essentially unlimited increase in the total supply of currency.

Tech investor Lee Edwards criticized Axios’ initial post for perpetuating misconceptions rather than educating readers.

Buterin has recently been active on Farcaster, advocating for community-driven solutions and initiatives focused on preserving privacy and addressing exploitation issues.

While Buterin has not commented on the concerns surrounding Ethereum Foundation researchers Dankrad Feist and Justin Drake’s involvement with EigenLayer, their decision to become advisors at EigenLayer in exchange for significant compensation in EIGEN tokens has sparked debate within the crypto community.

While some members support the transparency of the disclosures, others have criticized the decision, suggesting that the substantial compensation could influence decision-making.

Source: cointelegraph.com

The post Vitalik Buterin claws back crypto community’s right to redefine ‘inflation’ appeared first on HIPTHER Alerts.

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Blockchain dev Sphere introduces bank-to-wallet Telegram extension

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Sphere Labs, a blockchain developer dedicated to facilitating stablecoin services for corporate clients, has unveiled a new fiat on-ramp and off-ramp tailored to operate within Telegram.

The bank-to-wallet extension enables Telegram users to seamlessly transfer funds between their bank accounts and wallets directly within the Telegram app, with an advertised fee of 0.1% per transaction for early adopters.

This service will be available to early adopters starting the week of May 27, with a full rollout expected later this year.

While users from any unsanctioned country can utilize the Telegram extension, they are required to link the service with a bank account denominated in United States dollars or euros.

Telegram remains a hotbed of crypto innovation and development, boasting a plethora of bots and applications such as Unibet and the CoinGecko bot, fostering a robust blockchain ecosystem within the platform.

At the heart of Telegram’s appeal to crypto investors, speculators, and enthusiasts lies the Telegram Open Network (TON), which integrates various components including the TON Blockchain, TON DNS, TON storage, and TON Sites, offering users a comprehensive solution for all their Web3 requirements.

According to DemandSage, Telegram boasts an impressive 800 million monthly active users, with over 52 million users engaging with the platform on a daily basis. DemandSage also reports that a staggering 15 billion messages are exchanged on Telegram daily, with the app being downloaded more than 1 billion times. Telegram is projected to reach 1 billion users by the end of 2024.

Furthermore, India ranks as the country with the highest number of Telegram users, estimated at 104 million users, making the platform an ideal environment for delivering fintech services to emerging markets.

The expansion of financial services to developing countries remains a central focus of the blockchain industry, with companies like Ripple Labs and Standard Diamond Co. striving to develop innovative solutions for those lacking adequate financial services in the modern era.

Source: tradingview.com

The post Blockchain dev Sphere introduces bank-to-wallet Telegram extension appeared first on HIPTHER Alerts.

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