Blockchain
LBank Exchange Will List KlayFi (KFI) on December 17, 2021
Internet City, Dubai–(Newsfile Corp. – December 16, 2021) – LBank Exchange, a global digital asset trading platform, will list KlayFi (KFI) token on December 17, 2021. For all users of LBank Exchange, the KFI/USDT trading pair will be officially available for trading at 21:00 (UTC+8) on December 17, 2021.
Figure 1: LBank Exchange Will List KlayFi (KFI) on December 17, 2021
KLAYswap, a decentralized crypto asset finance protocol, has drawn widespread attention from the crypto world since last year. As a yield optimizer, KlayFi is here to provide the user-oriented yield farming experience to KLAYswap users. Its native KFI token will be listed on LBank Exchange at 21:00 (UTC+8) on December 17, 2021, to further expand its global reach and help it achieve its vision.
Introducing KlayFi
KlayFi is a yield optimizer that provides the user-oriented yield farming experience to KLAYswap users. In addition to convenient auto-farming, users can earn maximum yield returns by utilizing the governance and economy of KLAYswap.
Inspired by innovative yield farming models like PancakeBunny, Yearn Finance, Curve Finance, Convex Finance, and Synthetix, KlayFi redesigned these models and developed a progressive DeFi protocol to bring innovative yield farming in the Klaytn ecosystem. These protocols are highly recognized by communities. KlayFi specifically studied the following protocols in depth; the seamless auto-compounding user experience of PancakeBunny, proposing the optimal investment strategy for users of Yearn Finance, and mainly utilizing the governance model and token economy of DeFi pool in Convex Finance.
KlayFi proposes a sustainable model, which utilizes the governance model and token economy of KLAYswap; supports the auto-compounding feature, the core feature of Yield Optimizer; and provides an advanced incentive model that allows profit maximization for users by connecting the fundamentals of KLAYswap and KlayFi.
There are three major parts that compose the KlayFi Ecosystem: KFI Staking Pool, KLAY-KFI Vault, and KlayFi Prime / Growth Vaults. For KFI Staking Pool users, KlayFi shares its profits from the protocol including performance fees and profits from vKSP system (KLAYswap’s governance model and token economy) to them; for KLAY-KFI Vault users, they receive KFI and KSP rewards as providing liquidity to the KLAY-KFI pool; and for KlayFi Prime / Growth Vaults users, KlayFi auto-compounds the profits and distributes newly minted KFI to them in return for performance fee.
KlayFi is one of the largest DeFi services in the Klaytn ecosystem and mainly supports KLAYswap, but KlayFi Protocol aims to integrate with various DeFi services, including DEXs, Lending, and more on Klaytn to nurture the ecosystem. In doing so, KlayFi became an official partner of WEMADE, the leading P2E platform, which is well known for its blockchain project, WEMIX. WEMADE participated in the KlayStarter LaunchPad with its first DeFi service. Furthermore, KlayFi introduced the first IDO platform, ‘KlayStarter’, on Klaytn and will actively collaborate with many DeFi services.
About KFI Token
KFI is the governance token of KlayFi. Users may stake KFI into the KFI Staking Pool and claim rewards, which are profits from performance fee and vKSP system. There is no maximum supply like most yield optimizers (aggregators). Yet, the KlayFi team considers several deflationary mechanisms to maintain constant upwards price pressure and market stability, such as buyback and burn, limiting supply, and more as the ecosystem grows.
The KFI token will be listed on LBank Exchange at 21:00 (UTC+8) on December 17, 2021, investors who are interested in KlayFi investment can easily buy and sell KFI token on LBank Exchange by then. The listing of KFI on LBank Exchange will undoubtedly help it further expand its business and draw more attention in the market.
Learn More about KFI Token:
Official Website: https://klayfi.finance/
Telegram: https://t.me/klayfiofficial
Twitter: https://twitter.com/KlayFi_official
About LBank Exchange
LBank Exchange, founded in 2015, is an innovative global trading platform for various crypto assets. LBank Exchange provides its users with safe crypto trading, specialized financial derivatives, and professional asset management services. It has become one of the most popular and trusted crypto trading platforms with over 6.4 million users from now more than 210 regions around the world.
Community & Social Media:
Telegram
Twitter
Facebook
Linkedin
Contact Details:
LBK Blockchain Co. Limited
LBank Exchange
[email protected]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/107822
Blockchain
Supply Chain Finance Market Forecast to Reach $9.4 Billion by 2029: Increasing Emphasis on Sustainable Sourcing
Global Supply Chain Finance Market
Blockchain
Web3 Startups Raise Nearly $1.9B in Q1 2024 Despite Overall Downtrend in Crypto VC Interest
Venture capital funding for cryptocurrency and blockchain projects has seen a notable resurgence in the first quarter of 2024, marking its first quarterly rise since 2021. Crunchbase data released today indicates that Web3 startups secured nearly $1.9 billion in funding across 346 deals during this period. This represents a substantial 58% increase from the previous quarter, offering a glimmer of hope amidst the ongoing downward trend in overall crypto VC interest.
The recent surge in funding can be attributed to investors adopting a more long-term perspective on Web3, as opposed to the hype-driven “tourist investors” predominant in recent years. Chris Metinko, the author of the report, notes that investors are shifting their focus to the AI sector, indicating a change in investment strategy. There is a growing interest in supporting the foundational infrastructure of the decentralized internet, rather than solely concentrating on crypto wallets and lending platforms, which attracted significant investments during the peak period of 2021 to 2022.
While large funding rounds were relatively uncommon in Q1, several notable investments stood out. Exohood Labs, a company integrating AI, quantum computing, and blockchain, secured a remarkable $112 million seed round at a valuation of $1.4 billion. EigenLabs, an Ether token “restaking” platform, raised $100 million in a Series B round led by a16z crypto. Additionally, Freechat, a decentralized social network leveraging blockchain technology, secured $80 million in a Series A round. These investments, among others, contributed to the increase in valuations and the emergence of four new Web3 unicorns in Q1.
Despite the recent progress, the future trajectory of Web3 remains uncertain. Metinko suggests that the next few quarters will be pivotal in determining the industry’s direction. While investors anticipate a rebound in investment as the decentralized internet evolves, it may take another year for venture capital activity to stabilize after the exuberance of 2021. Factors such as the approval of U.S. spot Bitcoin exchange-traded funds and the upcoming Bitcoin halving could also influence the market, given the rising prices of Bitcoin and Ether.
A noteworthy example of significant funding in the Web3 space is Monad Labs’ recent successful funding round, which secured $225 million led by Paradigm. Monad Labs is a layer-1 blockchain compatible with Ethereum, offering faster transaction processing. This funding round harkens back to the golden era of crypto funding in 2021-2022, when L1 solutions attracted substantial investments.
Earlier this year, Balance, a digital asset custodian based in Canada, announced that it had once again reached $2 billion in assets under custody (AUC) amidst the recent market recovery. Similarly, Korea Digital Asset (KODA), the largest institutional crypto custody service in South Korea, has experienced remarkable growth in crypto assets under its custody, expanding by nearly 248% in the second half of 2023.
Analysts at Bernstein Research project that crypto funds could reach an impressive $500 billion to $650 billion within the next five years, representing a significant leap from the current valuation of approximately $50 billion. This forecast underscores the growing optimism and potential for substantial growth within the crypto industry in the coming years.
Source: cryptonews.com
The post Web3 Startups Raise Nearly $1.9B in Q1 2024 Despite Overall Downtrend in Crypto VC Interest appeared first on HIPTHER Alerts.
Blockchain
ASIC cracks down on blockchain mining firms
Three blockchain mining companies – NGS Crypto, NGS Digital, and NGS Group – along with their directors, Brett Mendham, Ryan Brown, and Mark Ten Caten, are facing legal action from the Australian Securities and Investments Commission (ASIC) for allegedly operating without a license, in violation of Australia’s Corporations Act. ASIC initiated legal proceedings against these entities on April 9, citing concerns about their non-compliance with financial regulations and their solicitation of Australian investors.
According to ASIC, the NGS companies promoted blockchain mining packages with fixed-rate returns to Australian investors, encouraging the transfer of funds from regulated superannuation funds to self-managed superannuation funds (SMSFs) for conversion into cryptocurrency. Approximately 450 Australians invested a total of around USD 41 million in these packages, raising concerns about potential financial losses.
The legal action filed by ASIC alleges that the companies violated section 911A of the Corporations Act, which prohibits companies from providing financial services without a valid Australian Financial Services Licence (AFSL). ASIC is seeking interim and final court orders to prohibit the NGS companies from offering financial services in Australia without an AFSL.
ASIC Chair Joe Longo emphasized the importance of investors carefully considering the risks before investing in crypto-related products through their SMSFs. Longo stated that ASIC’s actions send a message to the crypto industry about the regulator’s commitment to ensuring compliance with regulations and protecting consumers.
In a separate development, the Federal Court appointed receivers for the digital currency assets associated with the NGS companies and their directors to safeguard these assets amid concerns about the risk of dissipation. Mendham was also issued a travel restriction order, preventing him from leaving Australia.
While a court date for the proceedings has not been set, ASIC’s investigation is ongoing, with the regulator continuing to gather evidence and build its case. It is worth noting that the investigated companies share a similar name with NGS Super, a legitimate Australian pensions provider, leading to potential confusion among investors. NGS Super clarified that it is not involved in selling cryptocurrency or related products and has taken legal action to protect its trademark and members’ interests.
Source: iclg.com
The post ASIC cracks down on blockchain mining firms appeared first on HIPTHER Alerts.
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