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Blockchain Press Releases

Moby, the Next On-chain Options Protocol, Receives Grant from Arbitrum Foundation

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First ever on-chain options protocol to receive Arbitrum Foundation Grant prior to full launch

Moby set to drive next narrative for DeFi with its unique SLE (Synchronized Liquidity Engine)

SINGAPORE, Jan. 23, 2024 /PRNewswire/ — Moby, an on-chain options protocol backed by its pioneering Synchronized Liquidity Engine (SLE), rendering real-time accurate pricing; narrowest spread in the market; maximum liquidity; and Robinhood-class UI/UX, has received the Arbitrum Foundation Grant. The deal will bring Moby on Arbitrum One by H1 2024 to drive the next narrative for DeFi.

As the premier Layer2 (L2) scaling solution for Ethereum, Arbitrum leads with an impressive Total Value Locked (TVL) of approximately $10 billion, the highest across all L2 networks. The Arbitrum Foundation is dedicated to fostering the ecosystem’s growth by awarding grants to protocols that demonstrate problem-solving capabilities and bring unparalleled value to the Arbitrum Ecosystem.

Moby has been nominated as the first options protocol to receive the Arbitrum Foundation Grant prior to official launch on Arbitrum One. Moby’s recent accomplishments bolsters the potential of on-chain options leading the next drive for DeFi adoption. Over the course of 96 hours since its most recent update on Arbitrum Testnet, Moby has generated over $10 billion in options trade volume and acquired more than 2,000 traders, each incurring over 20 transactions per day on average.

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Moby, built for both traders and liquidity providers, offers a favorable trading environment for options trading with its suite of radically designed features such as SLE (Synchronized Liquidity Engine) and Dynamic Risk Premium model, which altogether render real-time accurate options pricing, dynamic risk management, and abundant liquidity.

Based on its solid infrastructure and design, Moby is dedicated to bringing unprecedented value to the DeFi ecosystem with on-chain options that enables controlled risk exposure, high leverage, and no liquidation risk for traders. Moby’s OLPs (Options Liquidity Pool) will also function as a source of passive income for liquidity providers upon Moby’s full launch on Arbitrum One.

Moving forward, Moby’s mission is to establish grounds for all on-chain options and derivatives by introducing on-chain infrastructure for structured products, tokenized positions, and Real World Assets (RWA). From a business perspective, Moby is set to scale and lead the on-chain options vertical through integrating with existing DeFi services and welcoming institutional adoption.

“The on-chain options market has enormous potential, driven by robust demand from both the public and institutions.” said the CEO at Moby. “Moby aims to become the market-meta-driving protocol for on-chain options in 2024 as did GMX for on-chain perpetual futures in 2021.”

After a recent UI/UX update, Moby has launched Moby Open Beta Round2 (MOBR2) event, whereby early access users can try out Moby on Arbitrum Sepolia and provide hands-on feedback for further improvements, prior to Moby’s official launch on Arbitrum One in H1, 2024.

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Moby Contacts
Team Moby 
[email protected] 

About Moby

Led by a team with extensive experience in finance, blockchain, and data science, Moby is an on-chain options protocol to lead the next narrative for DeFi. Moby offers an optimized trading environment based on its pioneering SLE (Synchronized Liquidity Engine) and Dynamic Risk Premium model, which enables real-time accurate pricing, narrowest spread in the market, abundant liquidity, and Robinhood-class UI/UX. Moby is set to provide new features such as capital efficiency improvement models, structured products, short-term options, and tokenized options positions to welcome institutions and traditional TradFi audience.

WebsiteTwitter ⎹ DiscordDocsBlog

About Arbitrum One

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Arbitrum One — a leading Ethereum Layer-2 scaling solution initially developed by Offchain Labs — offers ultra-fast, low-cost transactions with security derived from Ethereum through Optimistic Rollup technology. Launched in August 2021, the Arbitrum One mainnet beta is EVM-compatible to the bytecode level and has 54%+ TVL in the L2 segment. 2000+ DeFi and NFT projects are live on the ecosystem to date.

About Arbitrum Foundation

The Arbitrum Foundation, founded in March 2023, supports and grows the Arbitrum network and its community with secure scaling solutions for Ethereum.

Photo – https://mma.prnewswire.com/media/2324658/Moby_Arbiturm_Grant.jpg  

 

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Blockchain Press Releases

Bybit Announces Highly Anticipated Restock of BTC Wealth Management Fund Pool

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DUBAI, UAE, June 21, 2024 /PRNewswire/ — Bybit, one of the world’s top three crypto exchanges by volume, is thrilled to reveal its upcoming restock of the Bitcoin (BTC) Wealth Management Fund Pool, following the immense popularity and success of the initial rounds.

Sold Out in Record Time

During the soft launch on June 3, Bybit allocated a total of 100 BTC to the Wealth Management Fund Pool, which astonishingly sold out within a mere 7 hours.

Catering to High Net Worth Individuals (HNWIs), VIP customers, and asset managers, the first restock of 50 BTC went live on June 5, quickly oversubscribed within a remarkable 5 hours, highlighting the continued demand and enthusiasm from our valued users.

Restock for VIPs and Regular Users

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The second round of restock will be available to both VIP customers and regular users, offering the most compelling rates in the industry.

It is scheduled to take place on June 21, 10 AM UTC. Bybit is excited to offer users another opportunity to participate in this investment opportunity, and understands the importance of catering to a diverse range of investors and are committed to providing equal opportunities for all.

Bybit’s Wealth Management service empowers users to efficiently manage, plan, and invest their digital assets. It offers a range of professional investment strategies and diverse portfolios to help users achieve their investment goals effectively and confidently.

For more information about Bybit Wealth Management, visit this page.

#Bybit / #TheCryptoArk

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About Bybit

Bybit is one of the world’s top three cryptocurrency exchanges by volume with 30 million users. Established in 2018. It offers a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media

Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube

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Blockchain Press Releases

Bybit’s Institutional Investors Triple ETH Exposure Ahead of ETF Launch

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DUBAI, UAE, June 21, 2024 /PRNewswire/ — Bybit, one of the world’s top three crypto exchanges by volume, has released a new study showing institutional investors have increased their ETH holdings ahead of the launch of the spot ETH ETF in the US. Analysts predict this ETF will capture between $8 and $12 billion from US and global markets, driving Ethereum to new all-time highs by year-end.

According to recent data, Bybit’s institutional investors’ exposure to ETH has almost tripled since the ETF announcement on May 24, 2024—moving from 6.54% to a current weighting of 14.29%. This surge underscores the growing confidence in Ethereum’s future performance and the expected positive impact of the ETF launch.

Retail investors on Bybit have also increased their ETH allocations, although not as dramatically as institutional investors. The allocation to ETH has risen from 7.40% to 9.52%, reflecting a cautious but positive response to the ETF announcement.

“Ethereum is the crypto product favored by traditional capital such as BlackRock and Franklin Templeton, both of whom have tokenized funds on the platform,” said Hao Yang, head of financial products at Bybit. “Given this, the chain seems poised to become the institutional pick. With its native yield, the ETH token allows for composability, and we are seeing protocols building interesting derivatives based on ETH’s stable yield, leveraging this to create crypto primitives that mimic those built on top of the US Treasury market. Finally, because a portion of ETH is burned (sent to a wallet from which no withdrawals are possible), the asset can become deflationary, which means the more network effects kick in, the scarcer the asset becomes.”

#Bybit / #TheCryptoArk

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About Bybit

Bybit is a top-three cryptocurrency exchange by volume with 30 million users established in 2018. It offers a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media

Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube

Bybit Logo

Photo – https://mma.prnewswire.com/media/2444731/IMG.jpg
Logo – https://mma.prnewswire.com/media/2267288/Logo.jpg

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Blockchain Press Releases

Taiwan’s Leading Crypto Market Leader BitoGroup Partners with Digital Bank to Launch World’s First Crypto-Friendly Bank Account

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TAIPEI, June 21, 2024 /PRNewswire/ — BitoGroup, the leading cryptocurrency market leader in Taiwan, today announced its partnership with Far Eastern International Bank Bankee to launch the world’s first dedicated crypto-friendly bank account. As cryptocurrency adoption by international institutions continues to grow, BitoGroup began serving financial institutions two years ago, setting a precedent as the first cryptocurrency exchange to form an alliance with financial institutions. This partnership promotes seamless integration between traditional banks and third-party payment processors. It represents a significant breakthrough for the financial market and has sparked considerable interest within Taiwan’s financial sectors. By collaborating with large institutions, BitoGroup aims to strengthen the cryptocurrency ecosystem and plays a crucial role in driving innovation in financial technology.

The world’s first dedicated bank account for cryptocurrency users is the result of three years of research and effort by BitoGroup and Bankee. This innovative service was achieved by integrating the systems and service processes of the two companies, while ensuring compliance with regulations and supervisory measures, and prioritizing user’s experience.

“Both BitoGroup and Bankee place great emphasis on the security of member assets, platform stability, and user transaction experience,” said Titan Cheng, Founder and CEO of BitoGroup., “Since the initial pilot phase, we have received positive feedback from the community. The Bankee dedicated account can be linked to BitoPro’s exchange account and set up in as little as one hour, significantly enhancing user’s convenience. During the pilot phase, the average daily transaction amount per user increased by 25%. With over one million members in Taiwan, we expect explosive growth once the service is officially launched.

Cheng emphasized that the cryptocurrency community is excited about the collaboration between exchanges and traditional financial institutions. This collaboration will positively improve user confidence in transactions and reverse the negative image of cryptocurrency scams. In the future, BitoGroup will join forces with Bankee to introduce more services, enriching the flexibility of utilizing both fiat and cryptocurrencies.

BitoPro has also partnered with Taiwan’s largest third-party payment processors, Neweb Technologies, to launch “BitoPay”, enabling 300,000 merchants and millions of members to use cryptocurrency for payments, making “BitoPay” the most widely accepted crypto payment solution in Taiwan.

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BitoGroup believes that partnering with large institutions to integrate cryptocurrency use into existing operational systems is not only the best way to promote cryptocurrency usage but also fosters innovation. Initiatives such as exchanging convenience store loyalty points for digital currency, enabling cryptocurrency payments through e-commerce third-party payment services, and the recent launch of crypto-friendly accounts with Bankee, all contribute to expanding the existing ecosystem. BitoGroup’s robust blockchain infrastructure, combined with a focus on optimizing service processes through technology, will create a win-win situation for institutions, exchanges, and users.

Taiwan’s cryptocurrency industry has officially entered a new era of regulation with the establishment of the Virtual Asset Service Provider (VASP) Association. BitoGroup’s founder and CEO, Titan Cheng, has been elected as the first Chairman of the VASP Association. This close cooperation between cryptocurrency and traditional financial institutions will help strengthen the trust of regulatory authorities and financial institutions in the cryptocurrency industry, laying a solid foundation for the crypto-financial system.

About BitoGroup

Founded in 2014, BitoGroup aims to use blockchain technology to achieve the goal of inclusive finance, including assisting companies and consumers to enter the new era of Web3. The businesses of the group include BitoPro (a cryptocurrency exchange), BELS (an NFT empowerment platform), and O2 META (a metaverse-focused social media platform).

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