Blockchain
Concordium will launch a DeFi Lab focused on creating Regulated Decentralized Financial Products
Concordium and Verum Capital AG are collaborating to launch the first lab focused on developing regulated decentralized finance products: the Concordium DeFi Lab.The lab will establish a funding vehicle and allocate for $100 M in $CCD in the form of grants and investments through its community endowment program. The Concordium DeFi Lab offers everyone a one-of-a-kind opportunity to participate in the future of regulated decentralized finance.
Context for the Concordium DeFi Lab:
Over 30% of the financially-included population are currently aware of Cryptocurrencies.
As of Q2 2021, it was estimated that there were more than 300 million cryptocurrency users across the world. The average crypto ownership rate by country is now 3.9% [1] and more than 18,000 businesses worldwide now accept some form of cryptocurrency as payment. Decentralized Finance (DeFi) represents the primary opportunity for individual investors to use their cryptocurrency holdings for financial gain. As of Q4 2021, the total value locked in the DeFi space is USD 195 B[2] .
There is no doubt that crypto is here to stay.
Despite the incredible growth and increasingly widespread use of cryptocurrency, its primary application area, DeFi remains isolated from consumer protections. Regulators across the globe are already playing catchup, struggling to apply the supervision designed to improve traditional financial systems to this fast-growing space. There are general concerns about how to regulate this space in order to further facilitate its growth. Concordium DeFi Lab intends to alleviate these concerns and foster DeFi products that can deliver and even increase consumer protections’
The Concordium (Reg)DeFi Lab:
The Concordium Lab for regulated DeFi products will prove that the next generation of financial products, built on the back of decentralized networks, can deliver consumer protection and fulfill user needs
The Concordium (Reg)DeFi Lab will consist of three streams.
1. Thought Leadership:
Stream 1 will consist of practical research to show how new functionality from smart contracts, embedded ID, and cryptographic signatures can be created to support compliance and regulatory needs. It will deliver input to national and regional regulators as they seek to transcribe global directives into precise national law.
2. Proof-of-Concept:
Stream 2 will focus on developing products as proof-of-concept. Proof-of-concepts will provide valuable precedents within the DeFi space that evidence the capability of various protocols to allow for regulatory fulfillment and oversight. It is where Concordium DeFi Labs will connect the words to actions.
3. Commercially Viable Products:
Stream 3 will accelerate the development of incubated concepts such that they become commercially viable products with a clear roadmap and market launch strategy. The priority of all commercially viable products will be regulatory compatibility and minimised centralisation.
The (Reg)DeFi Lab will move projects through these three streams to incubate and accelerate the most promising ideas in the DeFi space. Areas of specific interest for the lab include NFTs and new digital asset classes, Decentralized Autonomous Organizations (DAOs), and Decentralised Exchanges (DEXs). The lab, which is open to collaboration with any organization and sector, has already received various soft commitments from global players in the public and private sector.
According to Concordium CEO, Lone Fønss Schrøder: “Concordium is the first blockchain in the world to have an embedded identity layer at the protocol level. As such, it is well positioned to empower regulatory-approved applications and solutions intended for enterprise clients. Our specific interest in bridging the gap between the DeFi space and regulated financial solutions will come together in the (REG)DeFi Lab. With the support of Verum Capital, who have experience delivering projects with enterprise clients from all sectors and building new solutions for the DeFi space, we are confident that the lab will be a step toward a fully inclusive financial future.”
According to Verum Capital CEO, Matthias Weissl: “Verum Capital has worked closely with Concordium since its inception. The network offers tremendous benefits for applications that require identity verification and KYC processes. In the DeFi space we see legitimate protocols requiring this more and more. Our venture-building team is currently working with clients in the DeFi space and traditional industry to bring the benefits of DeFi to their users. The DeFi Lab represents a unique moment in the evolution of the DeFi space, bringing together powerful technology, deep insight, and experience, with strong teams that have solid ideas in order to drive adoption and make the space more accessible.”
A framework for proposing projects and applying for grant funding will be made available in the near future. Concordium has allocated as much as $100M worth of Concordium´s cryptocurrency, the CCD, to fund successful grant projects, such is our commitment. It will also offer exclusive access to technology and resources.
Launching the (Reg)DeFi Lab:
Together, Concordium and Verum Capital will combine their cutting-edge technology and extensive industry experience to launch the (Reg)DeFi Lab. The lab will be based in Zurich, Switzerland, a centre of global finance, and provide projects with a full spectrum of support. Technology and legal resources will be highly emphasized as projects pursue the agenda of the lab to create regulated DeFi products.
Exverse, a free-to-play game bringing a fresh take on AAA first-person-shooters to Web3, announces the launch of its native $EXVG token on ByBit, a top-three crypto exchange by volume with over 20 million users. The ByBit launch will be followed by spot listings on the MEXC and Gate exchanges. Ahead of its full alpha launch in mid-May, Exverse hosted a soft-launch tournament for 5,000 early registrees on April 15 with cash rewards for top performers.
During the last bull run, Web3 games rose to prominence under the play-to-earn mechanism that made games like “Axie Infinity” so popular. As this model became widely replicated, many of these blockchain-based games prioritized the crypto elements at the expense of the actual game aspects. This trend could be seen in practice by many titles opting to undergo a token launch before even having a working demo, disincentivizing developers to build a quality game, and leaving users with no ecosystem or functioning game to play and spend or the native currency in.
With Exverse approaching its full launch, players can earn $EXVG by performing well while using the native token to enter matches, purchase premium items, and more. The $EXVG token builds on Exverse’s extensive beta and serves as the ecosystem’s currency while the game’s community witnessed a 20 percent growth in verified signups within a month. Supporting Exverse in their token launch are prominent launchpads and incubators that include Seedify, ChainGPT, and GameFi.
To build momentum for its upcoming alpha launch in mid-May, Exverse showcased its game by holding an exclusive deathmatch-style tournament for 5,000 early wait listers on April 15. The five-day tournament, which took place on the game’s ‘Battle Planet,’ gives players a chance to demonstrate their skills and win rewards via stablecoins and tokens. With $50,000 in total up for grabs, the top 100 performers earned at least $200. Top five finishers earnings were dispersed accordingly:
1st place: $4,000
2nd place: $2,000
3rd place: $1,500
4th and 5th place: $1,000
Built using Epic’s Unreal Engine 5, Exverse utilizes blockchain technology to strike a balance between enjoyable, realistic, and immersive real-time gameplay. The game prioritizes skill over pay-2-win mechanics, enabling players to earn rewards by staking tokens before a season’s kickoff. Top performers receive a share of profits from in-game NFTs such as cosmetics and skins.
To support the ecosystem’s development, expansion, and growth while rewarding the team and its early supporters, 400 million $EXVG will be minted.
“We are extremely excited about our token launch and proud to work with a great partner like ByBit to make it happen,” says Fei Ooi Hoong, CEO of Exverse. “We worked tirelessly to develop a diverse, engaging, and intuitive first-person shooter capable of revolutionizing how the public views blockchain-based gaming. Our talented team tapped into its background in traditional gaming to develop a rich and immersive gaming experience and then strategically implemented the NFT elements and in-game economics to enhance the user experience.”
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According to a report from CoinTelegraph, nearly forty percent of institutional investors in Canada have exposure to cryptocurrency, as revealed by KPMG. This finding underscores the growing acceptance and adoption of digital assets among institutional investors in the country.
The report indicates that a significant portion of institutional investors in Canada are actively investing in or exploring opportunities in the cryptocurrency market. This trend reflects a shift in sentiment towards digital assets, with more investors recognizing the potential for long-term growth and diversification offered by cryptocurrencies.
KPMG’s findings highlight the increasing mainstream acceptance of cryptocurrencies among traditional investors, as well as the growing interest in blockchain technology and its potential applications across various industries. As institutional investors continue to enter the cryptocurrency market, they are expected to bring additional capital and liquidity, further fueling the growth and maturation of the digital asset ecosystem.
Overall, KPMG’s report signals a significant milestone in the adoption of cryptocurrencies in Canada, indicating that institutional investors are increasingly recognizing the value proposition of digital assets and integrating them into their investment portfolios. This trend is likely to accelerate the broader adoption and mainstream acceptance of cryptocurrencies in the country and beyond.
Source: cointelegraph.com
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Blockchain
BounceBit (BB) Megadrop Now Open: Participate by Subscribing to BNB Locked Products or Completing Web3 Quests
The BounceBit (BB) Megadrop is now open for participation, as announced by Blockchain.News. This event presents an exciting opportunity for users to earn BB tokens by engaging in various activities, including subscribing to BNB locked products and completing Web3 quests.
Participants can join the BB Megadrop by subscribing to BNB locked products or completing Web3 quests, both of which offer different avenues for earning BB tokens. By participating in these activities, users have the chance to accumulate BB tokens and potentially benefit from the rewards associated with the Megadrop.
Subscribing to BNB locked products allows users to earn BB tokens by locking their BNB assets for a specified period. This not only provides users with an opportunity to earn rewards but also contributes to the liquidity and stability of the BounceBit ecosystem.
Additionally, completing Web3 quests offers users an alternative way to earn BB tokens by engaging in various tasks and challenges related to Web3 technology. These quests provide users with a fun and interactive way to learn about blockchain and cryptocurrency while earning rewards in the form of BB tokens.
Overall, the BB Megadrop presents an exciting opportunity for users to participate in the BounceBit ecosystem and earn rewards by engaging in activities that contribute to the growth and development of the platform. As the Megadrop progresses, participants can look forward to additional opportunities to earn BB tokens and potentially benefit from the rewards associated with this event.
Source: blockchain.news
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