Blockchain
Orbs Continues Fantom Integration Process As ORBS Begins Trading On SpookySwap
Orbs is excited to announce the launch of its native token on the SpookySwap platform. Bringing ORBS to the leading DEX-AMM on Fantom will introduce broader liquidity and access to the token, further expanding the Orbs ecosystem.
Tel Aviv, Israel–(Newsfile Corp. – April 7, 2022) – Orbs, the leading interoperability enabler between different blockchains and ecosystems, takes the next step in achieving a multi-chain future. The project has integrated with various Layer-1 and Layer-2 platforms, including Ethereum, Polygon, Solana, Harmony, and Fantom. Fueling ongoing growth of the Orbs ecosystem remains key, and the addition of ORBS to SpookySwap is part of this ongoing process.
SpookySwap represents the biggest DEX-AMM on the Fantom blockchain and represents just under $1 billion in Total Value Locked (TVL). The DEX notes over $150 million in average daily trading volume, making it a robust platform to enhance the liquidity of the ORBS token. Moreover, the addition of ORBS to SpookySwap is facilitated by Orbs making its asset available on Fantom through the Multichain cross-chain bridge connecting various supported networks.
Following the addition of ORBS to SpookySwap, users can now swap and add liquidity to ORBS pools on the leading DEX-AMM on the Fantom blockchain. Two ORBS pools are active today.
Being integrated into SpookySwap marks a crucial milestone for Orbs’ expansion into the Fantom ecosystem. The integration ensures Orbs is now accessible across seven major infrastructure networks: Ethereum, BNB Chain, Solana, Polygon, Fantom, Harmony, and Avalanche. Moreover, the ORBS token is used across several dozen top-tier DeFi platforms and protocols across these blockchains.
Fantom is currently the sixth-largest DeFi network by Total Value Locked. It represents $7.1 billion in TVL and SpookySwap represents nearly 14% of that Total Value Locked.
About Orbs
Orbs is a public blockchain infrastructure executed by a decentralized network of permission-less validators using Proof-of-Stake (PoS) consensus.
Orbs’ unique features designed for interoperability with EVM-compatible blockchains, together with its decentralized network of nodes, allow it to be set up as a separate execution layer (“L3” ) operating to enhance the capabilities of EVM smart contracts. By working in conjunction with other L1 and L2 solutions as part of a tiered blockchain stack, Orbs opens up a whole new spectrum of possibilities for DeFi, NFT, Metaverse and GameFi.
Orbs was founded in 2017 and launched its mainnet and token in March of 2019. Orbs is being developed by a dedicated team of more than 30 people, with offices in Tel Aviv, London, Singapore, Tokyo, and Seoul.
For more information, please visit the website, or join the communities below.
Contact
Ran Hammer
[email protected]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/119483
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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