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TRON DAO Announces Results of HackaTRON Season 4

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Geneva, Switzerland–(Newsfile Corp. – May 16, 2023) – The TRON DAO team, community representatives of the TRON blockchain platform, revealed the results for the fourth season of their popular HackaTRON competition. 500,000 USDD, a TRON-based decentralized, overcollateralizedmulti-chain stablecoin, will be shared among the top projects. Judge-selected qualifiers will also be given application accessibility to TRON DAO Ventures and Huobi Ventures for potential capital funding.

Image source: Tron

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There were over 625 participants from 172 projects across six tracks, including DeFi, Web3, NFT, and GameFi, alongside the new Builder and Eco-Friendly categories.

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“Our thriving community’s incredible talent and innovation were on full display for this season’s HackaTRON,” said Ejaz Merchant, Developer Lead with TRON DAO. “I want to express my gratitude to all the outstanding projects who submitted, all the partners, and the committed community members who made this event a success. Together, we are expanding blockchain technology’s potential and promoting a cooperative, self-maintained ecosystem.”

Judge-Selected Top Fives

First place in each of the judge-selected categories receives 20,000 USDD, with second place entries receiving 15,000 USDD, third place 10,000 USDD, and fourth and fifth places 8,000 and 6,000 USDD, respectively.

The new Builder category recognized teams returning to the hackathon that have made significant updates to their projects. First place this season went to the “Farming-as-a-Service” project by Elk Finance. This update to Elk Finance’s customer offerings will “allow everyone to harness the most advanced farming contracts in DeFi.” The projects that placed second through fifth in the Builder track were:

  1. Galaxy Throne by Galaxy Throne
  2. JustMoney Spot by JustMoney
  3. TronNRG by TronNinjas
  4. TronQL by TronQL

In the Eco-Friendly track, which showcased projects working towards sustainability and environmental stewardship via the TRON Climate Initiative, first place went to Ecomarket, an open marketplace for procuring used and recycled plastics. EcoMarket wants to build a platform that incentivizes recycling and clean storage of used plastics, while providing companies with reliable and transparent sources of recycled materials. The projects that placed second through fifth in the Eco-Friendly category were:

  1. MusiCoinCity by ElfWeb
  2. CarboEx by CarboEx
  3. ForGreen by ForGreen
  4. BlockForest by BlockForest

The DeFi category was topped by Ergon. This project’s goal is to simplify user access to TRON Stake 2.0, providing savings on transaction fees by renting energy while earning by staking TRX. The projects that placed second through fifth in the DeFi track were:

  1. Cloak by Cloak
  2. MyFend by Fend Group
  3. Sorrel Banq by Paracosm Labs
  4. Swirl Ads by Team Sudo

In the NFT track, judges selected BobbyBot.Trade for first place. This decentralized application will allow users and players to trade their virtual assets (NFTs) on Steam-based games, such as Team Fortress and Counter Strike, for TRX, USDT, and USDD on TRON. The projects that placed second through fifth in the NFT category were:

  1. Evoie by Evoie
  2. Samhita DAO by HeritageSpeak
  3. SealKey by TRONNuggetz
  4. Wine Vault by Wine Vault

The GameFi category was led by Duelers from TRONJoy. Players can choose “duel” or “tournament” mode to engage, create, and conquer the TRON community in the ultimate GameFi showdown! The remaining top five included:

  1. RevoluTRON by Irruption Lab
  2. theRevolt by Spirit-Tower
  3. Cukies: Rush & Run by Cukies World
  4. METASENS by METASENS

In the Web3 track, first place went to TrustSight by The TRONacles. Their project’s goal is to increase decentralized trust on the TRON blockchain via user reviews. It is essentially a crowdsourced reputation platform for on-chain actors, enabling TRON users to navigate the ecosystem securely and confidently. The projects that placed second through fifth in the Web3 category were:

  1. Daren Market by Daren Market
  2. TronSave by TRONSAVE
  3. ProvyLens by LensCrafters
  4. Yinbox by Jeffrey Lewis

The judge-selected qualifiers received 30% of their allocated prize for placing in the top five of their respective category on May 15, 2023. They have until June 1, 2023 to deliver a functional, decentralized application onto either the TRON or BitTorrent Chain MainNets in order to receive the remainder of their prize.

Feroz Lakhani, Enterprise Lead with TRON DAO, commented, “This season has been the best yet! I’m really looking forward to connecting more deeply with some of the projects focused on environmental sustainability, as it aligns with our focus on being as eco-friendly as possible. For fun, I also love ‘quality testing’ all of the GameFi projects. That’s what my next few weekends will be dedicated to, and I can’t wait!”

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Community Forum Top Fives

The HackaTRON Community Forum voted to select “community” winners, as well. Here are the top five from each category:

Web3

  1. CryptoDo by CryptoDo
  2. ProvyLens by LensCrafters
  3. ZkTickets by ZKP Tech Solutions
  4. BlockMenu by BlockMenu
  5. Yinbox by Jeffrey Lewis

DeFi

  1. Ergon by USTX
  2. Swirl Ads by Team Sudo
  3. Sorrel Banq by Paracosm Labs
  4. UpDawg by uDawgDAO
  5. Cloak by Cloak

GameFi

  1. Cukies: Rush & Run by Cukies World
  2. Duelers by Tronjoy
  3. RevoluTRON by Irruption Lab
  4. Worlds Hardest Maze by WHM
  5. theRevolt by Spirit-Tower

NFT

  1. TNS Domains by SolidityGods
  2. TNFT Maker by Cubie
  3. Wine Vault by Wine Vault
  4. TronGallery by TronGallery
  5. EnergyNFTs by TRONArmy

Builder

  1. JustMoney Spot by JustMoney
  2. TuruVerse by TuruGlobal
  3. TronNRG by TronNinjas
  4. Deba’s Wulf Pack by The Pack
  5. Cukies World Metaverse by Cukies World

Eco-Friendly

  1. TronPower by Lomotey Josephine
  2. AurorAqua by Aurora
  3. MusiCoinCity by ElfWeb
  4. CarboEx by CarboEx
  5. EcoDAO by EcoDAO

This season, there were also three bonus prizes for the best performances in project engagement, determination, and community contribution. The project engagement and determination prizes will be announced on June 1, 2023. The community contribution prize recipients included Akainuu, antonio, fabsltsa, Gordian, HODL, manfred_jr, Nana66419, nweke-nature1, Prince-Onscolo, and Youngyuppie. Each selected community contributor will receive 500 USDD.

The TRON DAO team is thrilled with the quality of projects from Season 4 of the HackaTRON. Hackathons are just one of the ways developers are welcomed to #BUIDLtheFUTURE with TRON. Learn more about all that’s happening across the TRON ecosystem at TRONDAO.org.

About TRON DAO

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TRON DAO is a community-governed DAO dedicated to accelerating the decentralization of the internet via blockchain technology and dApps.

Founded in September 2017 by H.E. Justin Sun, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, a pioneer in decentralized Web3 services boasting over 100 million monthly active users. The TRON network has gained incredible traction in recent years. As of May 2023, it has over 160.0 million total user accounts on the blockchain, more than 5.58 billion total transactions, and over $12.2 billion in total value locked (TVL), as reported on TRONSCAN.

In addition, TRON hosts the largest circulating supply of USD Tether (USDT) stablecoin across the globe, overtaking USDT on Ethereum since April 2021. The TRON network completed full decentralization in December 2021 and is now a community-governed DAO. Most recently in October 2022, TRON was designated as the national blockchain for the Commonwealth of Dominica, which marks the first time a major public blockchain partnered with a sovereign nation to develop its national blockchain infrastructure. On top of the government’s endorsement to issue Dominica Coin (“DMC”), a blockchain-based fan token to help promote Dominica’s global fanfare, seven existing TRON-based tokens – TRX, BTT, NFT, JST, USDD, USDT, TUSD, have been granted statutory status as authorized digital currency and medium of exchange in the country.

TRONNetwork | TRONDAO | Twitter | YouTube | Telegram | Discord | Reddit | GitHub | Medium | Forum

Media Contact
Hayward Wong
[email protected]

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/166258

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Blockchain

Digital Currency Initiative Launches in Taiwan by Collaborating with Prestigious University

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In an innovative effort to revolutionize digital financial education, a prominent digital currency provider has teamed up with a renowned university in Taiwan. This strategic collaboration aims to equip students with advanced knowledge and practical experience, preparing them for the future of finance.

Empowering Future Financial Professional

The partnership focuses on immersing students in the complex world of digital assets, blockchain technology, and cutting-edge financial instruments. Industry experts will offer invaluable insights and mentorship, enhancing students’ understanding and skills in this rapidly evolving field.

Curriculum Highlights:

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  • Blockchain Principles: Foundational knowledge of blockchain technology.
  • Critical Thinking: Developing analytical skills for problem-solving in digital finance.
  • Risk Assessment: Strategies for identifying and managing financial risks.
  • Legal Compliance: Understanding the regulatory landscape and compliance requirements.
  • Career Insights: Exploring potential career paths in the digital finance industry.

Commitment to Digital Economy Growth

This initiative underscores a commitment to fostering the digital economy’s growth by highlighting the stability of digital assets against traditional currencies. The newly introduced digital token combines traditional asset stability with blockchain security, offering a robust financial instrument for the future.

The digital currency provider has a long-standing history of promoting blockchain education and advocating for financial inclusivity. By facilitating cross-border transactions and investing in emerging markets, the organization continues to play a crucial role in shaping digital finance’s future.

Advancing Financial Literacy and Inclusivity

This collaborative effort represents a significant step towards democratizing financial literacy and empowering individuals worldwide to engage with the evolving digital currency landscape.

Additional Facts:

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  • Taiwan’s Blockchain Hub: Taiwan actively promotes itself as a hub for blockchain and digital currency innovation through various initiatives.
  • Research and Development: The partnership is expected to spur increased R&D activities in digital assets, benefiting both academia and industry.
  • Regulatory Exploration: Taiwan’s government is interested in exploring regulatory frameworks for digital currencies and blockchain technology, creating a supportive environment for such collaborations.

Key Questions Addressed

  1. Impact on Adoption: How will the collaboration between the digital currency provider and the university impact the adoption of digital currencies in Taiwan?
  2. Skills and Knowledge: What specific skills and knowledge will students gain from the curriculum focusing on blockchain technology and digital assets?
  3. Regulatory Compliance: How does the initiative address potential regulatory challenges and compliance issues in the digital currency space?

Advantages and Disadvantages

Advantages:

  • Enhanced Education: Offering students unique educational opportunities in digital finance and blockchain technology.
  • Industry-Academia Bridge: Providing hands-on experience and mentorship to bridge the gap between academia and industry.
  • Economic Growth: Contributing to the growth and development of the digital economy in Taiwan and beyond.

Disadvantages:

  • Curriculum Updates: Potential challenges in keeping the curriculum up-to-date with the rapidly evolving digital currency landscape.
  • Practical Exposure: Ensuring students receive practical, real-world experience to complement theoretical knowledge.
  • Regulatory Balance: Balancing the promotion of digital currencies with the need for regulatory compliance and risk management.

The collaboration between the digital currency provider and the Taiwanese university marks a significant milestone in digital financial education. By integrating industry expertise with academic rigor, this partnership aims to nurture the next generation of financial professionals and foster the growth of the digital economy.

Source: smartphonemagazine.com

The post Digital Currency Initiative Launches in Taiwan by Collaborating with Prestigious University appeared first on HIPTHER Alerts.

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Blockchain

Binance Appeals Against $4.3M Penalty Imposed by Canada Regulator

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In a recent court appeal, Binance argued that it does not specifically target Canadian customers, claiming its activity in Canada is merely a byproduct of its international operations, according to a June 19 report by the Canadian Press. The exchange revealed that although it had previously attempted to establish a Canadian presence, these plans were abandoned. By May 2023, Binance had fully exited the Canadian market, citing new regulations on stablecoins and investor restrictions that made continued operations unfeasible. Despite its departure, Binance acknowledged the sentimental value of Canada, being the home country of its founder.

In May, the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) imposed a $4.3 million fine on Binance for non-compliance with anti-money laundering (AML) and terrorist financing rules. FINTRAC claimed that between June 2021 and July 2023, Binance failed to report over 5,000 transactions of $10,000 or more. Additionally, despite having multiple opportunities, Binance failed to register as a money services business within the deadlines set by the regulator.

Beyond its issues in Canada, Binance is facing a multitude of legal challenges globally. In April, a class-action lawsuit was filed against the exchange in Canada, accusing it of violating securities laws. The plaintiffs allege that Binance sold crypto derivative products to everyday investors without proper registration, breaching Ontario’s Securities Act and federal regulations. This lawsuit, representing tens of thousands of Canadian investors, seeks compensation and the reversal of unauthorized trades.

Globally, Binance has also faced significant financial penalties. In November, the exchange settled with US authorities, agreeing to a $4 billion fine for violations of anti-money laundering and sanctions laws. Similarly, the Indian Financial Intelligence Unit imposed a $2.24 million fine, the largest ever against a crypto entity in the country, for failing to comply with AML regulations.

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Binance’s regulatory and legal troubles illustrate the significant challenges faced by cryptocurrency exchanges operating across multiple jurisdictions. While the exchange continues to navigate these complexities, its ability to comply with global regulatory standards and address legal disputes will be critical to its long-term viability and reputation in the market.

Source: cryptonews.com

The post Binance Appeals Against $4.3M Penalty Imposed by Canada Regulator appeared first on HIPTHER Alerts.

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Binance.US Dealt Another Blow: North Dakota Revokes License

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Following the lead of states like Florida, Alaska, Oregon, Maine, and North Carolina, North Dakota has moved to block Binance.US from regaining its money transmitter license. This decision by the North Dakota Department of Financial Institutions (DFI) is grounded in a November 2023 guilty plea by Binance founder Changpeng Zhao on anti-money laundering charges, further questioning the exchange’s suitability for operation.

Protecting Public Interest

DFI Commissioner Lise Kruse emphasized the need to protect the public interest in her statement: “The Commissioner finds the Respondent does not continue to meet the qualifications or satisfy requirements that may apply to an applicant for a new money transmitter license.” This decision adds North Dakota to the growing list of states placing Binance.US in regulatory “penalty boxes.”

Global Troubles and US Regulatory Concerns

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The regulatory issues faced by Binance.US in the United States reflect broader global challenges. For instance, a recent regulatory conflict in Nigeria, which resulted in the detention of a Binance executive, raises additional concerns for US regulators, complicating Binance.US’s situation further.

Impact and Outlook for Binance.US

Currently, Binance.US is unable to onboard new users in several regions and is entirely inaccessible in over 10 states. The exchange has until July 17, 2024, to challenge North Dakota’s decision. However, the outlook remains uncertain, given the mounting restrictions and regulatory pressures.

The relatively short prison sentence for Zhao might suggest a potential course correction within Binance. By prioritizing user safety and adhering strictly to US regulations, Binance.US could potentially regain some lost ground. The exchange’s future hinges on its ability to address regulatory compliance issues effectively.

The Broader Implications

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This regulatory crackdown highlights the evolving landscape of cryptocurrency regulation. While the innovative potential of cryptocurrencies is significant, exchanges must operate within established regulatory frameworks to maintain trust and stability in the market. Binance.US’s struggle will be closely watched by the entire cryptocurrency industry, serving as a cautionary tale for exchanges that prioritize growth over compliance.

Source: bitcoinist.com

The post Binance.US Dealt Another Blow: North Dakota Revokes License appeared first on HIPTHER Alerts.

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