Writing this since I saw that India passed a law where the crypto income is to be taxed by 30%. Why is there not any backlash or some sort of oppositon against this? I am trying to keep up with the news but I didn't see a single news where there was an ounce of…
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Cryptocurrencies traded higher to start the month of February, as markets look to forget January’s red wave. ETH is trading close to 10% higher as of writing, with bitcoin gaining almost 4% today. Bitcoin Bitcoin, which fell by as much as $16,000 last month, has recently started to regain some steam, climbing by over 11% […]
I am using a ledger nano x to stake my ETH with lido, about an hour ago a deposit was made into that ledger account for the same amount I staked several months ago. At the same time that deposit was made a larger amount of ETH that I hadn’t staked yet was removed from…
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The COTI Treasury is finally up and running, giving community members with an appetite for greater risk more options to capitalize on their ecosystem investments. Described as an “algorithmic and decentralized $COTI pool”, the COTI Treasury will grow over time as it collects fees on all COTI ecosystem transactions, and users will have the opportunity to earn some of those rewards by staking their tokens in it. While staking has previously been available with COTI it has up until now had fairly limited functionality. With the COTI Treasury, users can set their own risk tolerance and benefit from much higher APYs, so long as they’re willing to accept a higher possibility of their deposits being liquidated. “The Treasury binds everything that we do at COTI into one coherent system,” said COTI Shahaf Bar Geffen. “Our commitment is to continue to grow the ecosystem in terms of services, volume, and partnerships to enable lucrative rewards for our users”. The way it works is this: First, the user decides how much $COTI they’re willing to deposit into the Treasury (any amount) and the duration they want to lock up their coins for. Then, they select the multiplier, which has a direct impact on the APY they’ll earn. A 1X multiplier comes with the lowest risk and, consequently, lowest APY, while a 4X multiplier can offer an extremely generous APY of 80% or more, depending on other factors, though such a high potential reward comes with a high level of risk. The value of the user’s deposit at the time it was staked and their multiplier, along with the current value of the deposit, will be used to calculate a constantly-changing “Health Score”. With a much higher APY comes a much greater possibility that this health score will fall to 1.0, meaning the deposit faces liquidation (meaning, the user loses it unless they add to their deposit to increase the score). However, so long as their health score remains above this threshold, they’ll continue earning rewards (which will be theirs even if the deposit is liquidated). Any liquidated deposits will be returned to the Treasury and redistributed in the form of rewards between all active deposits. For those who chose the lowest 1X multiplier, the Health Score is not applicable, meaning there’s no risk of losing their original deposit. Once the initial lock period has expired, users can withdraw their original deposit or alternatively extend the lock period for an additional cycle. So if the original lock period was 30 days, they can lock their $COTI again for an additional 30 days and continue earning rewards. Whatever rewards participants earn are not locked, and can be withdrawn at any time. Whenever the original deposit is withdrawn, users will be charged a 0.5% fee, plus a 0.2% transaction fee. Deposits withdrawn before the lock period expires are subject to a further early withdrawal fee. Users have further options available, including the ability to top up their deposits at any time. COTI said the launch of the COTI Treasury marks a brand new era for the ecosystem and that more features are planned. These include a cross-chain fee mechanism that will ensure fees from COTI’s cross-chain products will be funneled into the Treasury.
Two posts are on the front page right now: "El Salvador angrily rejects IMF call to drop Bitcoin use" and El Salvador Treasury Minister Alejandro Zelaya angrily rejects IMF demand to drop Bitcoin as legal tender, “We are a sovereign nation. No international organization is going to make us do anything, anything at all!" You…
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A combination of multiple support levels, including a 21-month EMA, helped ETH price to rebound by nearly 30% from its local bottom.
AstroPay, a Latin American-based online payment service, announced it has integrated cryptocurrency with a new buy and sell option on its app and web app. The AstroPay wallet supports Bitcoin, Bitcoin Cash, Litecoin, and Cardano, and can be acquired in local currencies available in each country or USD. Further, the service enables users to trade…
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submitted by /u/ulTron91x [link] [comments]
So I get how layer 2 is bullish for scaling, and potentially speed, but won't this be bearish for ETH price? My logic: Less demand for L1 block space if they use L2s, less transactions on layer one as they occur on L2s and overall less fees accruing on L1s. submitted by /u/Harveyspecktor…
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In the growing DeFi panorama, both institutional traders and retail investors are starting to notice the inherent privacy issues with the most popular Layer-1 blockchains. The extreme transparency of L1s such as Ethereum, Solana, and Avalanche, to name a few, leaves investors vulnerable to attacks such as front-running and MEV. Meanwhile, the lack of interchain […]
