Blockchain
WingRiders reaches 62.5 million ADA ($32.6M) in TVL just a month after mainnet launch, amid market crash
WingRiders, Cardano’s premier native automated market maker (AMM) decentralized exchange (DEX) platform, completes its first month post-mainnet launch with 62.5 million ADA in total liquidity. The DEX’s successful opening month comes on the heels of an oversubscribed seed and private-funding round, as well as a partnership with the Milkomeda Foundation to bring the USDC and USDT stablecoins, along with BTC and ETH, to the Cardano mainnet ecosystem.
While Ethereum gradually transitions from its proof-of-work mechanism to proof-of-stake, it still suffers from slow transactions, scalability problems, and other disruptions. The proof-of-stake Cardano blockchain offers blockchain developers an alternative route, and WingRiders makes it accessible for investors.
WingRiders surpassed $60 million in total value locked (TVL) in a matter of 6 days after going live on April 12, with a peak in the first month of 62.5 million ADA before the major crypto market drop. The mainnet platform launched after the WingRiders developers finalized the farming functionality, with 1.6% (1,600,000 WRT) of its native token supply allocated towards the first month of yield farming, with rewards and bonuses to be distributed. A key ecosystem first is the double yield farming feature, where liquidity providers have the possibility to gain rewards from the automated staking in the ADA containing pools and the commonly known yield farming of platform native tokens. All these gains come on top of the regular swapping fee collected in the pools. WingRiders’s DEX platform is the only one, so far, that integrates Ledger hardware wallets, directly enabling the safest possible interaction, even directly on an Android device.
WingRiders’s exchange platform leverages Cardano’s benefits to correct the issues plaguing DEXs on Ethereum. WingRiders avoids the obstacles that slow down both Ethereum-based DEXs and recent entrants into the Cardano space, such as high gas fees and failed transactions. WingRiders offers full privacy to investors and only requires users to connect a lightweight non-custodial NuFi wallet to buy and trade tokens; the entire exchange can run within a browser. Traders on WingRiders can also earn interest on crypto through staking.
“We are more than pleased with our progress so far and look to continue the momentum as we deliver on our roadmap,” says Kaaran Kalantari, Spokesperson for WingRiders. “WingRiders has some big milestones ahead, including the integration of additional wallets and features as well as our public token sale, and we are expecting further successes as we solidify ourselves as an instrumental piece of the Cardano infrastructure.”
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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