Blockchain
Index Coop Announces Launch of Market Neutral Yield Token (MNYe)
Index Coop announced the launch of the Market Neutral Yield token MNYe (pronounced “money”), a tokenized strategy that gives holders access to a compelling source of USD-denominated yield by executing a basis trading strategy on Perpetual Protocol’s Optimism market.
With MNYe, holders can earn a variable yield, settled in USD, that is not dependent on inflationary protocol incentives and has no price exposure to Ethereum. This is Index Coop’s first product to be released on Optimism’s Ethereum layer 2.
The Market Neutral Yield token democratizes a basis trade strategy that is most commonly performed by hedge funds and sophisticated financial professionals. The MNYe token simplifies this complex trading strategy into a simple erc20 token that is liquid on Optimism and composable throughout the network’s growing DeFi ecosystem.
Basis trading, also known as cash and carry arbitrage, is an established strategy for achieving price-neutral profit by arbing the difference between an asset price on the spot and near-term futures markets. In DeFi, perpetual swaps – also called perpetuals or perps – can be used in lieu of futures. First implemented by BitMEX, perpetuals are futures with no settlement date.
The MNYe product takes simultaneous long spot and short perpetual positions and derives yield from the funding rate, which is generally paid by long perp positions to short perp positions. By taking a fully hedged position, the product has no net asset price exposure. MNYe will use a 1x long ETH spot position and a -1x short ETH perp settled in USD. The yield will be further enhanced by thrice-daily auto-compounding when the USD funding balance is positive. The yield is used to maintain a leverage position between -1x and -2x.
MNYe is the second of Index Coop’s yield bearing products, after the Interest Compounding ETH Index (icETH), fulfilling the mission to create decentralized financial products that unlock prosperity for everyone.
Blockchain
Revolutionizing Fintech: 6G Digital & Rune Nilsson’s FlexM Global in a Bold $12.5M Deal Shaking the Banking Industry
Blockchain
Teletubbies Digital Companions to Launch on the Tezos Blockchain
MetaPals, an AI digital companion platform, is partnering with WildBrain’s beloved Teletubbies to bring together cherished childhood memories and the innovative digital era with the launch of the Teletubbies AI digital companions on 20 April, 2024.
As Teletubbies commemorates its 27th anniversary on 31 March, the collaboration marks the beginning of an exciting array of renowned IPs joining the ‘MetaPals Multiverse’ in 2024. Through the use of AI and blockchain technology powered by Tezos, much loved Tinky Winky, Dipsy, Laa-Laa, Po, and even Noo-Noo have become personalized, evolving digital companions within the MetaPals browser extension game engine.
The Teletubbies characters integrate with users’ daily browsing experience that accompanies users across the web, offering both playful interactions and practical assistance. This technology not only brings these fun characters to life in new, interactive ways, but also helps to enhance the mental well-being of users by fostering a sense of companionship.
Each Teletubbies companion within the MetaPals Multiverse will exhibit unique personality traits, offering users a diverse and dynamic experience. With personalities distributed across 5000+ Teletubby companions along a spectrum, users are guaranteed a one-of-a-kind experience, ensuring enjoyment for all and opportunities to foster new connections with this nostalgic brand.
Max Giammario, CEO of MetaPals, said: “Through this collaboration we’re not just revisiting Teletubbyland, we’re reinventing it for the digital age. By weaving in AI and blockchain, we enable the Teletubbies characters to evolve, interact, and form unique bonds with users, embodying our vision of dynamic digital companionship. With a bit of ‘MetaPals magic’, the Teletubbies are exploring beyond the hills and far away, ready to play, in ways we’ve never imagined.”
Melissa Goodrich, Director, Franchise Strategy at WildBrain, said: “We’re excited to see our colorful quartet come to life in new ways through this unique digital experience for fans. As we celebrate 27 years of the perennially popular Teletubbies franchise, this latest collaboration encapsulates the essence of childhood nostalgia while embracing the limitless possibilities of the digital age.”
Jason Lim, TZ Apac Games Adoption Team for the Tezos Ecosystem, said: “MetaPals will be pioneering the convergence of iconic IPs such as Teletubbies with the limitless possibilities of the Tezos blockchain. I can’t wait to see the magic they are brewing up next.”
The post Teletubbies Digital Companions to Launch on the Tezos Blockchain appeared first on HIPTHER Alerts.
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