Blockchain
PolyDEX is Coming to Celo
Miami, Florida–(Newsfile Corp. – November 6, 2021) – Inspired by Celo’s mission to build a financial system that creates the conditions for prosperity for everyone, PolyDEX is thrilled to announce our plan to join the Celo ecosystem.
Our automated market maker is built upon the battle-tested Pancakeswap at Binance Smart Chain and PolyDEX at Polygon, offering traders and liquidity providers the best way to exchange tokens and earn trading fees with maximum flexibility and efficiency.
Moreover, CeloDEX will also be a DEX aggregator, giving users the most optimized token swapping experience with lowest slippage and best possible rate across all DEXs, via our multi-routing protocol. CeloDEX will aggregate UbeSwap and Sushiswap at the beginning and will expand further to other DEXes at Celo.
With a user-oriented approach in mind, we have built CeloDEX’s UI to display the multi-routing in real-time so you can view it clearly before confirming any transactions.
PolyLAUNCH – CeloLAUNCH launchpad
PolyLAUNCH is a decentralized multi-chain fundraising platform enabling projects to raise capital. We help to connect legitimate, capable teams with early stage investors and vice versa. With the expansion to Celo, CeloLAUNCH will help all good potential projects to launch on Celo while allowing users from other chains to join with ease.
CeloVAULT
Yield Optimization, Vaults, is always an important tool for both investors and projects. We are thrilled to launch CeloVAULT to provide investors the powerful tool on Celo with automatic high compounding interest rates on their liquidity. We also seek to onboard reliable liquidity farms, assisting projects in building their liquidity.
Performance fees accumulated from CeloVAULT will be used to support both CLX and PLX tokens throughout its lifetime.
NFT Market
Following the successful PolySTORE launch on Polygon, we will bring this NFT market to Celo, allowing users to sell, buy NFTs on the fly.
NFT Market will be launched a bit later at appropriate timing.
Any fees accumulated from the NFT market place will also be best utilized to benefit our ecosystem shareholders.
CeloDEX (CLX) Tokenomics
The official token symbol of the CeloDEX on the Celo blockchain is CLX. There will be 100,000,000 CLX tokens as the Maximum Supply.
The official token contract is 0xC7144Fa865c9f3a6836167A51531A2CC8b0ab5fD and the official listing price of CLX is set at $0.2.
CeloDEX creators have allocated 44,500,000 CLX (44.5%) for liquidity incentives (Farming) which begins on Friday, November 5, 2021, from 1 PM UTC.
On launch, there will be 11 official pools supported. To draw liquidity and to distribute tokens to farmers, CeloDEX is weighing its allocation in favor of the CELO/CLX pool. Users who supply liquidity to this pair stand to receive more rewards. The multiplier varies across pools, with CELO/CLX being the most rewarding with an allocation of X10, followed by CLX/cEUR and CLX/cUSD with a X6 allocation, and at third, cUSD/cEUR and CELO/cUSD have an allocation of X2. Meanwhile, liquidity providers of the WBTC/WETH, WETH/cUSD, WBTC/cUSD, MOBI/CELO, SUSHI/CELO, and UBE/CELO pairs will receive the same rewards proportional to assets locked at an allocation of X1.
20,000,000 CLX tokens (20%) are divided equally to cover the expenses accrued from platform Development (10%) and Marketing (10%) while 5,000,000 CLX (5%) has been set aside to the Treasury. Moreover, CeloDEX will distribute 20,000,000 CLX tokens (20%) as Vault Incentives. At the same time, 10,000,000 CLX (10%) has been allocated to the Main Reserve for Polygon PLX holders.500k CLX tokens (0.5%) of the total supply will be used to provide liquidity.
Moreover, CeloDEX will also offer a set of staking options for long-term $CLX holders, ranging from no lock, 7-day lock(x2), 30-day lock (x5) and 180-days lock (x10), with increasing distribution rates proportionally to the commitment period of choices.
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Stay tuned for more exciting news on our socials
- Website: https://www.CeloDEX.org
- Telegram: https://t.me/polydex.fi
- Telegram: https://t.me/polydexannouncement
- Discord: https://discord.gg/WtksUPQSRm
- Medium: https://medium.com/polydex
- Twitter: https://twitter.com/polydexfi
Media Contact –
Company name: CeloDEX
Email: [email protected]
Website: celodex.org
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/102290
Blockchain
Alpha Transform Holdings Releases March Report on ASC AI Index
Blockchain
Elizabeth Warren Urges Treasury Secretary Yellen to Implement Strong AML/CFT Measures for Stablecoins
In a recent communication directed to Treasury Secretary Janet Yellen, US Senator Elizabeth Warren has strongly advocated for the incorporation of robust Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) measures specifically tailored for stablecoins. Senator Warren’s correspondence underscores the critical importance of adopting the full array of AML tools outlined by the Treasury Department in a prior November 2023 communication to Congress.
Senator Warren has underscored the burgeoning threat posed by cryptocurrencies, particularly stablecoins, to national security. She has specifically drawn attention to instances where entities like Iran and Hamas have turned to cryptocurrencies as a means to raise funds and support terrorist activities. To effectively address this evolving threat landscape, Senator Warren asserts that any forthcoming crypto legislation must encompass comprehensive AML/CFT authorities as requested by the Treasury Department.
Moreover, Senator Warren has made reference to the testimony provided by Deputy Secretary Adewale O. ‘Wally’ Adeyemo before the Senate Committee on Banking, Housing, and Urban Affairs. In this testimony, Adeyemo emphasized the critical need for additional AML authorities to combat the growing menace posed by cryptocurrencies. Senator Warren has pointed out that the exclusion of crucial actors within the digital asset ecosystem, such as miners and validators, from AML/CFT requirements could potentially enable nefarious actors to exploit the increased crypto trading facilitated by stablecoin legislation.
Senator Warren’s steadfast stance on the regulation and oversight of cryptocurrencies is aligned with her prior efforts aimed at curbing illicit activities and safeguarding consumers, the financial system, and national security interests. She has persistently advocated for the closure of loopholes in AML regulations that allow sanctioned entities like Iran to derive revenue through crypto transactions. Furthermore, Senator Warren has consistently voiced concerns regarding the exploitation of cryptocurrencies in terrorist financing schemes and has called for the implementation of stronger regulatory frameworks to protect both consumers and national security interests within the realm of stablecoin-related legislation.
Source: blockchain.news
The post Elizabeth Warren Urges Treasury Secretary Yellen to Implement Strong AML/CFT Measures for Stablecoins appeared first on HIPTHER Alerts.
Blockchain
Binance Launches Megadrop: A Token Launch Platform with Airdrops and Web3 Quests
Binance has rolled out Binance Megadrop, a novel token launch platform that blends airdrops with Web3 quests. This platform enables users to engage in BNB Locked Products subscriptions and complete tasks within their Web3 Wallet to earn early rewards from chosen Web3 projects, even before their tokens hit the Binance Exchange.
The inaugural project featured on Binance Megadrop is BounceBit (BB), a BTC restaking chain. Here are the token specifics for BounceBit: Max Token Supply: 2,100,000,000 BB, Megadrop Token Rewards: 168,000,000 BB (8% of max token supply), Initial Circulating Supply: 409,500,000 BB (19.5% of max token supply).
To kickstart their journey with Binance Megadrop, users must log into their Binance account and ensure they possess an active Binance Web3 Wallet. From there, they can subscribe to BNB Locked Products and/or fulfill Web3 Quests to accumulate scores. These scores dictate the rewards received through the Megadrop program.
The scoring mechanism for Megadrop relies on the Locked BNB Score, determined by the quantity of BNB subscribed and the subscription period’s duration. Users also earn a Web3 Quest Bonus and a Web3 Quest Multiplier upon completion of designated Web3 Quests. The total score is computed by applying the Web3 Quest Multiplier to the Locked BNB Score and adding the Web3 Quest Bonus.
Importantly, only wallets created within the Binance Web3 Wallet and not external wallets will count towards Megadrop participation. Megadrop rewards will be airdropped to users’ Binance Spot Wallets.
Users must undergo identity verification and maintain at least one active Binance Web3 Wallet to qualify for Megadrop rewards. Additionally, certain jurisdiction-based eligibility criteria apply. Users from Australia, Canada, Cuba, Crimea Region, Hong Kong, Iran, Japan, New Zealand, Netherlands, North Korea, Russia, Singapore, Syria, United Kingdom, United States of America, and its territories are presently ineligible to participate in BB Megadrop.
Binance Megadrop is aimed at offering users an interactive and rewarding experience within the crypto realm. Further details regarding the Megadrop amount, Web3 Quests, and the comprehensive listing plan will be disclosed separately.
Source: blockchain.news
The post Binance Launches Megadrop: A Token Launch Platform with Airdrops and Web3 Quests appeared first on HIPTHER Alerts.
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