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Magic Eden Launches a New Wave of Features to Broaden NFT Trading on Polygon

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Magic Eden, the leading cross-chain NFT platform, today announced a series of significant updates that make trading and building on Polygon PoS through the marketplace more seamless. Among the first features to go live today is an aggregation tool, which consolidates listings across multiple Polygon PoS marketplaces directly on Magic Eden, and allows traders to view and purchase Polygon NFTs with up-to-date floor prices and stats.

In addition to the aggregator, Magic Eden is introducing two heavily requested features from Polygon ecosystem creators and developers simultaneously. The team has implemented royalty enforcement on its Polygon PoS marketplace via a payment processor as a way to protect creator fees. At the same time, Magic Eden’s Polygon API will be made publicly available for the first time, giving projects open access to integrate with their marketplace features.

Both the collections and profile pages are also getting an improved user interface that looks cleaner and runs faster, displaying streamlined stats while offering more insights and better management via advanced filters, real-time activity window, better trait or item sorting, and more. In the coming weeks, Magic Eden plans to roll out collection offers and multi-bidding, which will enable collectors to place and track multiple bids on specific NFTs or across an entire collection on Polygon PoS.

Jack Lu, CEO and Co-Founder of Magic Eden, commented: “It’s always fun to keep the momentum going, and we’re excited for what’s next. We feel like we’re just scratching the surface for what’s possible on Polygon. We hope that by launching and opening up some of these new features, more collectors, creators, and game developers will join us and we can keep growing the Polygon ecosystem together.”

Jordi Baylina, Co-Founder of Polygon Labs, said: “There is a bright and thriving community on Polygon and we are thrilled to see Magic Eden grow their presence on the chain and continue to push for innovation, improvements, and openness. These are meaningful updates and we look forward to welcoming new traders and creators to the Polygon community.”

Blockchain

THXLAB and IZUTSUYA Announce Strategic Partnership

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Blockchain

OZANK Joins Forces with RevoluGROUP to Enhance Global Payment Infrastructure

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Blockchain

Financial industry bodies defend permissionless blockchains against Basel Committee’s classification

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Five financial industry bodies have pushed back against the treatment of permissionless blockchains by a global banking supervision authority.

In December, the Basel Committee on Banking Supervision (BCBS) published a report on proposed amendments to bank capital requirements for digital assets, stablecoins, and tokenized assets.

The report classified all permissionless blockchains as high-risk, claiming that some risks could not be mitigated through existing solutions. BCBS was particularly concerned about banks’ lack of control over third parties who conduct most operations on these blockchains. It also warned about their privacy, finality, liquidity, and political, legal, and policy risks.

In response, five global financial industry regulators have defended permissionless blockchains. In a joint response, they stated that the industry “has all necessary expertise and robust compliance frameworks to fully identify, manage and mitigate these risks.”

The five are the International Swaps and Derivatives Association, the Global Financial Markets Association, the Institute of International Finance, the Futures Industry Association, and the Financial Services Forum.

Blockchain’s application in the financial industry is evolving, and regulators must not disincentivize banks from exploring the technology, the regulators stated. By putting up unnecessary hurdles, the BCBS would only push these institutions to the non-regulated shadow banking space, which would be riskier for them.

The regulators further noted that dozens of global banks have conducted successful pilots using permissionless blockchains. These pilots have shed more light on the technology’s application and allowed them to understand and control emergent risks.

The BCBS approach is unfair to blockchain and veers away from the regulator’s long-held “same asset, same risk” approach, they added.

“While we acknowledge that risk mitigation techniques are evolving for permissionless crypto assets…we are confident that solutions already exist in respect of specific use cases,” the five stated.

They believe deciding whether to build on permissionless blockchains should be left to the banks.

The financial sector has been a leader in blockchain adoption, with some, like JPMorgan (NASDAQ: JPM), developing their own permissioned networks, albeit unsuccessfully. However, most have relied on existing solutions to build applications spanning settlement, bond issuance, tokenization, etc.

Source: coingeek.com

The post Financial industry bodies defend permissionless blockchains against Basel Committee’s classification appeared first on HIPTHER Alerts.

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