Blockchain
Swarm Markets expands licensed DeFi to Polygon Network
Swarm Markets GmbH, the first licensed decentralized finance (DeFi) platform, announces its decentralized exchange (DEX) is now available on the Polygon Network. Trading on Polygon is a lower-cost option for users of the BaFin-regulated DEX and its existing Ethereum-based products. Swarm Markets is the first licensed automated market maker (AMM) protocol available on the layer 2 solution.
The Polygon implementation effectively removes network fees from consideration for users because it costs just a few cents per transaction, as opposed to Ethereum fees, which regularly top $100 USD per transaction. Transacting on Polygon will allow investors to swap in and out of positions more actively to better respond to market volatility.
Swarm Markets joins an industry trend to offer alternatives to Ethereum’s rising network fee, alongside DEX Uniswap, NFT platform OpenSea, and metaverse market leader Decentraland who all added support for layer 2 solutions within the last year.
Philipp Pieper, co-founder of Swarm Markets, said: “Access to DeFi needs to be at a price point that isn’t cost prohibitive to Main Street investors, which is why expanding our licensed AMM to layer 2 solutions is crucial. Web3 is coming for financial markets and we’re building trustless infrastructure that gives people autonomy to build wealth while retaining control of their assets at all times.”
Swarm Markets’ native token SMT has already been ported to the Polygon blockchain, extending the DeFi platform’s incentive and reward system onto the new chain. Users will get discounts on platform fees if they pay with SMT as well as earn rewards for trading and providing liquidity to swap pools.
MATIC, Polygon’s native token, is among the new assets added to Swarm Markets along with a MATIC faucet, where verified users will receive a one-time transfer of enough MATIC to pay for 5-6 transactions directly from Swarm Markets. A blockchain bridge within the platform UI will help investors move assets seamlessly from Ethereum to Polygon to take advantage of the low-fee pools.
“DeFi promises to drive innovation that simply isn’t possible in traditional finance, bring services to the unbanked and give regular people access to wealth management tools currently only available to elite institutions,” said Sandeep Naiwal, Polygon’s co-founder. He added, “As part of that mission, we are very excited to support Swarm Markets in their scaling efforts.”
Swarm Markets’ newly announced SX1411 token standard is also compatible with Polygon, along with other EVM-compatible blockchains. SX1411 is a highly adaptable framework for managing asset tokens. The new standard allows Swarm Markets to support tokens backed by underlying assets whether “off-chain,” such as certain regulated securities, or “on-chain,” like NFTs.
Timo Lehes, co-founder of Swarm Markets, said: “We’re creating infrastructure, products and services that preserve the innovation of DeFi combined with the reassurance of regulation. We are driving growth of the entire DeFi ecosystem by implementing low-fee layer 2 solutions and bringing traditional financial products on-chain, like securities, to better serve consumers.”
Last month, Swarm Markets announced a partnership with German bank Volksbank Mittweida to digitize bonds on the Polygon blockchain. The registered bonds are some of the first regulated securities to be issued on Polygon.
Blockchain
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Blockchain
Humanity Protocol Collaborates with OKX Wallet to Redefine Decentralized Identity Verification and Reward Users
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Blockchain
Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity)
Building Customer Trust in AI with Blockchain
Blockchain is emerging as a critical tool in addressing the trust deficit in artificial intelligence. By leveraging decentralized ledgers, companies can provide transparent data provenance, ensuring that AI algorithms operate ethically and without bias. This integration allows customers to verify the origins of data used in AI models, fostering greater confidence.
Businesses deploying blockchain for AI governance must prioritize simplicity and accessibility in their implementations. While the technology’s potential is immense, it is essential to communicate its benefits in a manner that resonates with non-technical stakeholders.
Source: Harvard Business Review
Blockchain at a Crossroads: Balancing Promise and Peril
As blockchain technology matures, it finds itself at a crossroads. On one side, the promise of decentralization continues to captivate industries, offering solutions for supply chain management, finance, and digital identity. On the other, challenges such as regulatory scrutiny, scalability issues, and energy consumption threaten to impede its growth.
The path forward will require a concerted effort from developers, regulators, and industry leaders. Collaborative frameworks that address these challenges while preserving blockchain’s core principles of decentralization and transparency are key to ensuring its sustained relevance.
Source: Cointelegraph
BRICS vs. USD: Blockchain’s Role in Economic Shifts
The BRICS nations (Brazil, Russia, India, China, and South Africa) are exploring blockchain-based solutions to reduce their reliance on the US dollar in international trade. By adopting decentralized technologies, these nations aim to foster economic independence and promote stability in the face of geopolitical tensions.
This initiative exemplifies blockchain’s potential to redefine global financial systems. However, its success hinges on addressing interoperability issues and fostering international collaboration. The evolution of blockchain-based trade networks could mark the beginning of a new era in economic diplomacy.
Source: CoinGeek
Hungri Games Expands MetaHorse Unity to Base Blockchain
Hungri Games has announced the expansion of its MetaHorse Unity project to the Base blockchain, aiming to enhance the gaming experience with improved scalability and lower transaction costs. This move aligns with the growing trend of integrating blockchain into gaming to create transparent and secure ecosystems.
By adopting Base, a layer-2 blockchain, MetaHorse Unity seeks to offer players a seamless and cost-effective gaming experience. The partnership highlights the potential of blockchain to transform the gaming industry, enabling innovative monetization models and fostering player engagement.
Source: CoinTrust
Nano Labs Purchases Trump Tokens to Celebrate Presidency
Nano Labs commemorated former President Donald Trump’s legacy with the acquisition of 47 Trump Tokens. This symbolic gesture underscores the intersection of blockchain technology and cultural milestones, showcasing how tokens can represent historical and social narratives.
The purchase also highlights the increasing role of blockchain in creating unique, tradable assets that capture moments in time. As tokenization continues to gain traction, it is redefining how value and significance are assigned in the digital age.
Source: PRNewswire
Final Thoughts: Blockchain’s Expanding Horizons
This week’s developments highlight the diverse applications of blockchain technology, from fostering trust in AI to reshaping global economic systems. As the industry navigates challenges and opportunities, collaboration and innovation will be crucial in unlocking blockchain’s full potential.
While hurdles such as scalability and regulation persist, the technology’s ability to drive transparency, security, and inclusivity remains unparalleled. The coming years will undoubtedly see blockchain continue to evolve, solidifying its role as a transformative force across sectors.
The post Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity) appeared first on News, Events, Advertising Options.
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