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RocketX Integrates with XDC Network, Boosting Ethereum Scalability and DeFi Interoperability

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Dubai, United Arab Emirates–(Newsfile Corp. – April 10, 2023) – Recently, RocketX has integrated XDC Network, the ethereum’s scaling solution and largest blockchain networks, to offer its users the best rates on XRC20 swaps. The integration will allow RocketX’s users to make cross-chain swaps between XDC and over 60+ supported blockchain networks. This is yet another milestone in the development of the blockchain ecosystem, which promises to revolutionize the way users transact and interact with digital assets, providing users with the ability to enjoy improved scalability on any EVM (Ethereum Virtual Machine) based DeFi applications. This means that transactions can be processed much faster, which has significantly improved the transactions per second (TPS) of DeFi applications. Additionally, the integration has also resulted in lower gas fees for users, which makes these applications more accessible to a broader audience. Overall, this integration has boosted Ethereum scalability and DeFi interoperability, allowing for a more efficient and streamlined experience for users.

RocketX has quickly become a go-to platform for cross-chain swaps, offering better rates than its competitors, thanks to its intelligent algorithms that consider parameters such as low gas fees, low slippage, and better swap rates. With the integration of XDC Network, users can now swap XDC (XRC20) with all leading blockchains without an intermediary.

“We’re thrilled to welcome XinFin XDC network to the RocketX family. Our partnership accelerates onboarding for the next billion users to XDC Network, seamlessly transferring digital assets from 60+ blockchains to XDC Network through 1-click cross-chain swaps,” said Davinder Singh, Co-founder, RocketX. Further he added, “This partnership represents a giant leap towards a more inclusive and decentralized future for all.”

“We’re excited that XDC Network has been integrated within RocketX so that its users can benefit from our enterprise-grade blockchain infrastructure,” said Matthew Weisenthal, Director of Ecosystem Relations, XDC Network. “This integration represents an important step in our mission to drive the adoption of blockchain technology across a range of industries, and we look forward to working closely with RocketX as they work to deliver more innovative DeFi solutions to the XDC ecosystem.”

About XinFin XDC Network

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The XDC Network is an enterprise-grade, EVM-compatible blockchain network supporting interoperable smart contracts. A highly optimized, bespoke fork of Ethereum, the XDC Network reaches consensus through a delegated proof-of-stake (XDPoS) mechanism, which allows for two-second transaction time, near zero gas fees, and over 2,000 transactions per second (TPS). Secure, scalable, and highly-efficient, the XDC Network powers a wide range of novel blockchain use cases.

Find more information about XDC Network by visiting websites XDC.org | XinFin.org and follow us on our social medias: XDC Foundation Twitter | XinFin Twitter || Telegram || LinkedIn || Reddit || Facebook || Forum

About RocketX

RocketX is an advanced hybrid CEX & DEX aggregator that makes it easy to compare prices across 270+ exchanges to help traders with the best prices with every Swap while enjoying 100% ownership of their digital assets.

For dApps & institutions, we act as a middleware by simplifying access to global crypto liquidity via a single API for in-app crypto swaps with best prices and 1-click cross chain capabilities.

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Value Proposition:

  1. Seamless Interoperability
  2. Increased Liquidity
  3. Better Price Discovery
  4. Improved User Experience
  5. Lower Latency
  6. Enhanced Security on Crypto Swaps

We are on a mission to enhance interoperability between blockchains and drive mass adoption of crypto by simplifying access to all leading blockchains via single UI and API.

Website | Twitter | Telegram | Blog | LinkedIn | YouTube

Contact Details:
[email protected]
Place: Dubai, UAE
Name: Adira B

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/161775

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Newsfile is a customer-focused newswire team that delivers press releases and corporate announcements to the global financial community. Approved by all stock exchanges, Newsfile offers broad access to media, analysts, investors and market participants. With agile services, proactive customer care and affordable pricing; Newsfile makes it easy for companies to tell their story to the audiences they need to reach.

Blockchain

YOM expands its cloud gaming DePIN from Solana to peaq to run its NFT node sale

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peaq, the layer-1 blockchain for DePIN and Machine RWAs, announces the expansion of its ecosystem as YOM, the cloud gaming and interactive experience DePIN, unveils its plan to expand to peaq from Solana. YOM enables gamers to earn crypto from their advanced rigs by lending their idle computational power to its DePIN. As the first step toward integrating peaq, YOM will launch its recently-unveiled Genesis Series as the first NFT Node Mint on the peaq blockchain. It will also explore further venues for more collaborations and integrations in the future.

Projected to grow to $312 billion in total revenue by 2027, the video game industry is a powerhouse in the wider entertainment segment, leaving both Hollywood and the music industry far behind. Cloud gaming services, which stream games to the user’s devices such as a smart TV or even a smartphone, are a promising sector in this industry, as they deliver AAA-tier gaming experiences without having to purchase a high-end PC or a console. However, in Web2, such services have to rely on massive data centers, which invokes environmental concerns and further strains the GPU market amid soaring demand from the AI industry. Besides, such data centers are costly to build and operate and often struggle to deliver the content at a comfortable latency.

YOM changes the game by ditching Web2 data centers. Instead, it taps idle personal gaming rigs, leveraging their powerful hardware to remotely run games and interactive experiences and stream them to any devices via their web browsers. The rigs’ owners earn rewards in crypto for every game hour they stream. YOM’s platform currently supports Unreal Engine 5 — one of the industry’s most popular options both among AAA studios and indie developers. The DePIN makes for a more sustainable approach to cloud gaming, with lower hosting costs and low latency, all while enabling gamers to earn revenue from their advanced hardware.

YOM’s strategic integration of peaq will begin with a node sale, where the community will be able to buy YOM’s Genesis Node Licenses as NFTs minted on peaq. The NFTs will be necessary to join YOM’s DePIN as a node. Full details, including the dates and the eligibility criteria, can be found on the YOM site. The mechanism for the node sale will-be open-sourced, enabling other DePINs building on peaq to conduct similar events. After the node sale, YOM is excited to explore more prospective directions for the integration into the peaq ecosystem.

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“We are very excited to be working with a Layer-1 chain that has the ability to support us and other DePIN projects on both the ecosystem and technical front,” remarks Jeff Outlaw, CXO at YOM. “Their support frees up the time for our tech team to work on the cloud gaming network. We are working to bring AAA games and immersive experiences to a wider top-of-funnel market as fast as possible, and building with peaq means we can skip a few crucial steps by leveraging its Modular DePIN Functions. All of our focus is now on bringing games to gamers!”

“The gaming industry is a staple of today’s digital entertainment market,” says Leonard Dorlöchter, co-founder of peaq. “Web3 has already tried to take it on with play-to-earn games, but YOM’s approach is a lot more creative — and it truly gives gamers ownership over something they’re so passionate about while earning rewards from their expensive rigs. We are thrilled to see YOM join the peaq ecosystem and look forward to the change it brings about in the gaming world, working as the true Web3 gateway for the mainstream gaming community.”

YOM is the second DePIN to expand to peaq from Solana even before the former’s mainnet launch, which is slated to take place in the coming months. In April this year, MapMetrics, another project originally based on Solana, unveiled its plan to migrate to peaq after the initial announcement of a more limited integration. Also in April, dTelecom, originally building on Arbitrum, announced joining peaq as well.

The post YOM expands its cloud gaming DePIN from Solana to peaq to run its NFT node sale appeared first on HIPTHER Alerts.

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Blockchain

CoinW Continues Expedition Trek And Double Down On Presence At ETH-Native Events

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Blockchain

Binance Cleared to Invest Customer Assets in US Treasury Bills: What It Means for Crypto and Dollar Dominance

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Binance has been granted court approval to invest customer funds in US Treasury Bills (T-bills), a move authorized by the United States District Court for the District of Columbia. This development signifies a significant intersection between traditional financial instruments and the digital asset sector.

Court Approval and Investment Details

On July 19, 2024, the court permitted Binance to use customer funds, currently held with BitGo, for purchasing US Treasury Bills. The order mandates that these investments be managed by a third-party investment manager. Importantly, the funds cannot be reinvested into Binance or its affiliates, ensuring transparency and mitigating conflicts of interest.

Binance is also required to provide detailed reports on the costs associated with managing these T-bill investments, which will be included in its monthly business expense disclosures, enhancing both accountability and regulatory compliance.

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Implications for the Crypto Industry

This court decision illustrates a growing convergence between the cryptocurrency and traditional financial markets. By investing in US Treasury Bills, Binance not only diversifies its asset management approach but also contributes to stability and credibility in the financial sector.

From a regulatory standpoint, this approval establishes a precedent for how digital asset exchanges can responsibly manage and utilize customer funds, aligning with traditional financial practices while addressing the unique challenges of the cryptocurrency space.

Stable Coins and Dollar Dominanc

The ruling also draws a parallel to stable coins, especially those pegged to the US dollar, such as Tether (USDT). Stable coins act as a bridge between traditional fiat currencies and cryptocurrencies, providing stability and liquidity in a volatile market.

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Tether, for instance, holds substantial amounts of US Treasuries as part of its overcollateralization strategy to ensure that each USDT token remains pegged to the US dollar. This practice supports the global dominance of the dollar and mitigates risks associated with inflation and fiscal policies.

Global Financial Impact

In the context of global finance, both stable coins and US Treasury Bill investments reinforce the US dollar’s position amid challenges like de-dollarization by emerging markets. By holding US debt instruments, stable coins help manage inflation risks and support the dollar’s role in international trade and finance.

Former US Speaker Paul Ryan has noted the role of stable coins in sustaining demand for US dollars and government securities, contributing to economic stability and supporting the value of dollar-pegged stable coins.

Diverse Views on Stable Coins

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Despite their benefits, stable coins face varied opinions within the financial and crypto communities. Critics like Alex Gladstein of the Human Rights Foundation argue that stable coins perpetuate the fiat-centric system that decentralized cryptocurrencies aimed to disrupt. Gladstein advocates for alternative digital assets that promote financial inclusion and economic freedom, challenging the dominance of stable coins tied to traditional fiat currencies.

Binance’s court-approved investment in US Treasury Bills marks a significant step toward integrating traditional financial instruments with the digital asset landscape. This decision not only enhances Binance’s transparency and regulatory compliance but also underscores the increasing legitimacy of cryptocurrencies in mainstream finance.

The synergy between stable coins and US Treasury investments further highlights their role in sustaining dollar dominance and addressing global economic uncertainties. As regulatory frameworks evolve and market dynamics shift, the interplay between cryptocurrencies and traditional finance will continue to shape the future of global monetary systems.

Source: thecurrencyanalytics.com

The post Binance Cleared to Invest Customer Assets in US Treasury Bills: What It Means for Crypto and Dollar Dominance appeared first on HIPTHER Alerts.

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