Blockchain
Online Blockchain plc: Umbria DeFi protocol releases exceptional results for cross-chain transfer of USDT
The testing of Umbria Network’s cross-chain Narni bridge is in its final stages.
Narni will enable users to move ERC-20 tokens securely from one blockchain network to another cheaply, quickly and easily. In testing, moving USDT from the Ethereum network to the Polygon network (formerly Matic) took an average of 47 seconds and cost just $2.80; Polygon to Ethereum took an average of two minutes 12 seconds and cost $5.62. This is significantly faster and cheaper than the Polygon web wallet bridge, which can cost upwards of $200 and take several hours for a transaction to complete.
Umbria – https://umbria.network/ – has identified that no current bridging system facilitates the movement of large amounts of crypto assets from one blockchain to another in a cost-effective, fast and easy-to-understand way. Narni Bridge is being developed to make the whole ecosystem more efficient and remove the barriers that users presently experience. It will allow participants to capitalise on arbitrage opportunities effortlessly and at fractional cost.
Narni will empower users to rapidly migrate liquidity in high orders of magnitude from any decentralised exchange on any EVM compatible blockchain into Umbria’s DEX. This will alleviate the friction point other exchanges currently experience due to being confined to a single network.
As well as enabling the transfer of assets between chains, the Narni bridge will reward participants for providing liquidity in a new type of farming, which is unlike that of a traditional AMM style of exchange, traditional farms or vaults. Those staking single assets (as opposed to pairs) on the bridge will earn APY, the highest rate of which is expected for stablecoin farmers. The auto-harvesting feature of Narni will also save users money and is part of Umbria’s drive to make the experience as fruitful as possible for liquidity providers.
“Umbria will have a bridge, which allows people to potentially transfer all their assets very easily from any DEX – such as Uniswap or SushiSwap – on any EVM compatible blockchain into the Umbria protocol. This will give Umbria a massive advantage over many of its DeFi competitors,” said Oscar Chambers, Co-lead developer of Umbria. “Umbria is going to be like the mothership with lots of people passing through its ecosystem as they move from one corner of the DeFi space to the other.”
A recent warning from the FBI regarding a crypto money transmitter seems to be aimed at the Samourai Wallet. This development highlights the increasing scrutiny and regulatory challenges faced by privacy-focused cryptocurrency wallets and services.
The FBI warning raises concerns about the use of certain cryptocurrency wallets that prioritize user privacy and anonymity, potentially enabling illicit activities such as money laundering and terrorist financing. While the warning does not explicitly name any specific wallet or service, the language used suggests that the Samourai Wallet may be the target of the advisory.
Samourai Wallet is known for its focus on privacy and security features, including coin mixing and stealth addresses, which aim to enhance user privacy and protect against surveillance and tracking. However, these features have drawn the attention of law enforcement agencies and regulators, who are increasingly concerned about their potential misuse by criminals.
The FBI warning underscores the challenges faced by privacy-focused cryptocurrency wallets in navigating regulatory compliance and law enforcement scrutiny. While these wallets aim to empower users with greater control over their financial privacy, they must also address regulatory requirements and law enforcement concerns to avoid legal and reputational risks.
As the cryptocurrency industry continues to evolve, privacy-focused wallets like Samourai Wallet will need to strike a balance between privacy and compliance, ensuring that they can provide robust privacy features while also addressing regulatory concerns and maintaining transparency with authorities. This delicate balance is essential to foster trust and confidence among users and regulators alike, ultimately enabling the continued growth and adoption of privacy-enhancing technologies in the cryptocurrency space.
Source: cointelegraph.com
The post FBI warning against crypto money transmitters ‘appears’ to be aimed at mixers appeared first on HIPTHER Alerts.
Blockchain
Pantera Capital Plans to Raise $1 Billion for New Fund Offering Exposure to Crypto Assets
Pantera Capital is reportedly planning to raise $1 billion for a new fund that offers exposure to various crypto assets, as reported by Blockchain.News. This ambitious fundraising initiative underscores Pantera’s continued confidence in the potential of the cryptocurrency market and its commitment to providing investors with diversified investment opportunities in the digital asset space.
The new fund from Pantera Capital aims to capitalize on the growing demand for exposure to cryptocurrencies and blockchain-based assets among institutional and retail investors. By offering a comprehensive portfolio of crypto assets, the fund seeks to provide investors with access to a wide range of investment opportunities, spanning cryptocurrencies, tokens, and other digital assets.
Pantera’s decision to raise $1 billion for the new fund reflects its optimistic outlook on the long-term growth prospects of the cryptocurrency market. With increasing mainstream adoption and institutional interest in cryptocurrencies, Pantera sees significant potential for value creation and capital appreciation in the digital asset space.
As one of the leading blockchain-focused investment firms, Pantera Capital is well-positioned to attract capital from investors seeking exposure to the cryptocurrency market. The firm’s track record of successful investments and its experienced team of investment professionals are likely to bolster investor confidence and support for the new fund.
Pantera Capital’s plans to raise $1 billion for its new fund underscore its commitment to driving innovation and growth in the cryptocurrency market. As the fund attracts capital and deploys it into promising investment opportunities, it is poised to play a key role in shaping the future of the digital asset ecosystem.
Source: blockchain.news
The post Pantera Capital Plans to Raise $1 Billion for New Fund Offering Exposure to Crypto Assets appeared first on HIPTHER Alerts.
-
Blockchain Press Releases4 days agoDeFi Lens builds advanced Generative AI for Technical Analysis
-
Blockchain3 days agoVenezuela’s Oil Giant Turns to Crypto as US Sanctions Bite Again
-
Blockchain3 days ago
Halving weakness sees $206 million exit crypto funds, Bitcoin miners pivot to AI
-
Blockchain3 days agoGlobal Payment Gateway Industry Report 2024: Seamless Integration with In-Game Virtual Currency Systems Enables Payment Gateways to Contribute to the Monetization Strategies of Game Developers
-
Blockchain4 days ago
PairedWorld Earns Nomination for Best Blockchain Project for Social Impact, Secures $1.5 Million in Private Token Sales, and Welcomes Paul Taylor Who Is a Venture Partner at BlackRock to its Advisory Board
-
Blockchain1 day ago
BounceBit (BB) Megadrop Now Open: Participate by Subscribing to BNB Locked Products or Completing Web3 Quests
-
Blockchain5 days ago
PairedWorld Earns Blockchain Award Nomination, Secures $1.5 Million in Private Token Sales, and Welcomes BlackRock Venture Partner to Advisory Board
-
Blockchain1 day ago
39% of Canada’s institutional investors have exposure to crypto: KPMG
