Blockchain
Ambire Wallet Launches Moonbeam Integration as First Parachain Supported
Sofia, Bulgaria–(Newsfile Corp. – March 21, 2022) – Ambire Wallet, an integrated DeFi wallet offering a single interface to use leading DeFi applications, has added support for the Moonbeam Network. Its users will now be able to use Ambire to send transactions and use native Moonbeam DeFi protocols.
Ambire & Moonbeam
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Moonbeam is the Ethereum-compatible parachain of the Polkadot network. Unlike most other EVM-based networks out there, Moonbeam is not a direct code fork of Ethereum node software. Instead, it is a Substrate chain that emulates Ethereum features and its communication protocol to provide a compatible environment. This means that Moonbeam has additional features such as integrated governance, cross-chain integrations and staking, which are native to Substrate.
DApp developers can deploy on Moonbeam just as they would on other EVM chains, using the exact same tooling and code. Existing major DeFi protocols on Moonbeam include Sushi and Curve, with a number of Moonbeam-native options as well for swapping and lending.
The thriving DeFi ecosystem allows for opportunities across the board for Ambire users.
Ambire Wallet can access these opportunities from a single interface, which provides a useful central dashboard for the user’s DeFi activity. This includes the ability to swap tokens or access dapps via WalletConnect, with the platform offering detailed breakdown of balances and past transactions. Ambire also includes scam-proofing mechanisms, for example by ensuring that users give token approvals to the exact contract they meant to interact with.
“We have been excited about Polkadot since the very start, starting with our AdEx implementation on Substrate back in 2018,” said Ivo Georgiev, CEO of Ambire. “We’re very excited to be backing the first parachain on Ambire, and Moonbeam was the natural choice as the most vibrant ecosystem out there so far.”
“Wallet infrastructure is critical for enabling users to get access to some of the amazing DeFi applications in the Moonbeam ecosystem,” said Nate Hamilton, Ecosystem Lead for Moonbeam. “The Ambire team’s multichain focus as well as their extensive background in the substrate ecosystem made for a great expansion of our ecosystem.”
Together with Moonbeam, Ambire adds Moonriver. Moonriver is a companion network to Moonbeam and provides a permanently incentivized canary network. New code ships to Moonriver first, where it can be tested and verified under real economic conditions. Once proven, the same code ships to Moonbeam on Polkadot.
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About Ambire
Ambire (formerly AdEx Network) is the company that develops the new-generation solution for digital advertising Ambire AdEx and a DeFi-focused crypto wallet, Ambire Wallet.
Ambire Wallet is a full-featured cryptocurrency wallet for anyone from the absolute beginner to the crypto and DeFi pioneers. It brings a number of innovative features like automatic gas management, hardware wallet support for military grade security and much more. With Ambire wallet, anyone can easily benefit from the crypto and DeFi industries without dealing with complicated interfaces or concepts.
About Moonbeam
Moonbeam is an Ethereum-compatible smart contract platform on the Polkadot network that makes it easy to build natively interoperable applications. This Ethereum compatibility allows developers to deploy existing Solidity smart contracts and DApp frontends to Moonbeam with minimal changes. Following Moonriver’s tremendous success on Kusama as the most active deployment destination for over 80 DApps, Moonbeam benefits from the shared security of the Polkadot relay chain and integrations with other chains that are connected to Polkadot.
Contact:
Vanina Ivanova
[email protected]
CMO of Ambire
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/117434
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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