Earlier this week we have covered TEZOS For this edition I am going to cover ALGO, as this was the most upvoted suggestion. Good news is that I managed to get some spare time and therefore the third Edition of DYOR came earlier, I hope this will be a nice surprise for the ones that…
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Title. I woke up extremely late to the party, I know. I found out I still had a little bit of TheDAO in an old wallet. All the refund processes I found on the internet are outdated and I can’t fathom how am I supposed to claim my refund in ETH. I still see that…
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BabyCake has a mission. Bring DeFi to the masses. The rate of crypto adoption in the world is growing, but the percentage of the world’s population who use it is still very small. Decentralized finance, which utilizes technologies to remove intermediaries, middlemen, and banks from financial markets, is a complicated system to enter into. In a huge step toward fulfilling their mission, BabyCake has developed an App. This app aims to allow anyone with a credit card and a phone to buy cryptocurrency within 3 clicks. The App is clean, clear and simple to use and will soon be available on both IOS and Android. It will revolutionize the DeFi space and foster the adoption of crypto in a safe, secure, easy and rewarding way. BabyCake’s primary goal was to make it simple for our mothers to start earning passive income without having to understand this complicated DeFi world, and with this App, they have succeeded. So who or what is BabyCake? The company was founded by two friends, Monk and Halo. Their passion is helping people take control of their lives and elevate their situations through the use of DeFi to earn passive income. The first step towards achieving that goal was to create the BabyCake token. It is an innovative Reflection Token, one that pays dividends in an already established token instead of its own. Seven percent of the daily volume is paid out to the holders in $Cake, the native token of PancakeSwap, the premier BSC Swap on the market and a company whose tokens are getting more valuable all the time. This means that not only do holders of BabyCake benefit from the increase in the price of the native token, they also receive an appreciating asset, which they can then also Stake on PCS to make even more money! BabyCake’s early success enabled the creation of the App, their brand new Swap, and the creation of more products, all of which make owning BabyCake a very profitable investment. Just this week, BabyCake launches its new and improved website. It includes the brand new Swap, an updated Dashboard, Rewards Calculator and information about their upcoming ‘3-click’ App. The Dashboard includes their very popular Auto-Reinvestment Pool (ARP). Over 14% of all BabyCake tokens have been deposited into the ARP. The Pool accumulates the Cake rewards each holder earns and automatically converts them to BabyCake tokens for a low 3% tax. As the buy tax for BabyCake is 15% to purchase through PancakeSwap, it is a great way for their holders to increase their bags for a significant discount. BabyCake is currently burning 200 million tokens a day for a 7 day period, reducing supply and increasing the value of already held tokens. Coming up in the future is the very exciting launch of BabyCake NFT’s. The first NFT to combine Augmented Reality NFT’s with a Rewards System. The NFT’s will initially be available on a BabyCake NFT platform. There will also be a merch store opening in the near future in response to huge demand from the community. All in all, the future of BabyCake looks bright and with the current price floor being very stable, it is a great time to invest before their many products are launched and their market cap explodes.
TL:DR : All you need to know different types scams in Cryptocurrency space,how do they work, how to protect yourself While bitcoin and cryptocurrencies sure have their advantages, unfortunately, just like with any other technology, there will also always be some downsides. The cryptocurrency space is infested with scams simply due to the pseudo-anonymous nature…
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Dydx, a decentralized exchange, has seen its trading volumes explode in the last few days, surpassing other recognized decentralized exchanges like Uniswap and Pancakeswap. Some analysts have suggested this might be the result of the latest Chinese cryptocurrency ban causing China-based users to move their trading activities to these platforms. Dydx Bursts With Activity Dydx, […]
The NFL has official confirmed its partnership with Dapper Labs to drop NFTs, renowned DJ Paul Oakenfold is dropping a tokenized album on Cardano, DC is giving away free comic book cover NFTs.
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The total value locked in DeFi protocols has surged 936% over the past 12 months.
Compound Finance (COMP) has seemingly suffered a token distribution bug after introducing and passing a recent governance vote that addressed rewards distribution, Proposal 62. Shortly thereafter, Compound reported in a tweet that there was unusual behavior regarding COMP distribution following the vote, but that “no supplied/borrowed funds are at risk.” The funds that are in jeopardy due to the bug sit only in the Comptroller contract, which means that there is a total cap of 280,000 COMP tokens that are at risk. However, that’s still a hefty number, worth over $80M USD at the time of publishing. One transaction was reportedly as high as nearly $30M alone. Let’s Get Movin’ With governance often comes the lack of immediate action. As Compound Finance CEO and Founder Robert Leshner noted in a tweet discussing the events at hand, “there are no admin controls or community tools to disable the COMP distribution; any changes to the protocol require a 7-day governance process.” The Compound team quickly rolled out the initial governance process with Proposal 63 up for review, which temporarily disables COMP distribution rewards while the team and community address the fix for the protocol. Leshner adds that while Proposal 63 is up for review, “a patch to restart the distribution is in development.” While this gives the team time to address the issue, Proposal 63 does note that all ~280,000 tokens will be at risk. While the recent Compound bug showed immediate price impact, buyers quickly came back to market and the COMP token has still showed long-term resiliency. | Source: COMP-USD on TradingView.com Related Reading | TA: Ethereum Consolidates, Why Bulls Could Aim Fresh Rally Take 10% Leshner has since gone on Twitter asking recipients of mistaken distributed COMP to return it, with the below tweet: If you received a large, incorrect amount of COMP from the Compound protocol error: Please return it to the Compound Timelock (0x6d903f6003cca6255D85CcA4D3B5E5146dC33925). Keep 10% as a white-hat. Otherwise, it's being reported as income to the IRS, and most of you are doxxed. — Robert Leshner (@rleshner) October 1, 2021 He took a bit of heat for the tweet, and followed up by stating that it was a “bone-headed tweet / approach” and that his intentions lie in “trying to do anything I can do to help the community get some of its COMP back.” Smart contract specialist Kurt Barry noted just how costly small errors in code can impact blockchain projects: Smart contracts are unforgiving of the tiniest errors…COMP bug is a tragic case of ” >” instead of ” >=” (in two code locations). Two characters, tens of millions of value lost. — Kurt Barry (@Kurt_M_Barry) September 30, 2021 Truly a tough set of circumstances for the Compound Finance community, however many have shown approval of Leshner’s response. The move is not the first mishap in the rapidly growing world of DeFi. Last month, the Poly Network suffered a hack that cost over $600M USD. In a bit of a bizarre set of circumstances, the Poly hacker returned most of the stolen crypto back to the network. And in the last week, cross-chain DeFi protocol pNetwork lost over $12M USD in tokenized Bitcoin to attackers. Related Reading | Visa Is Building A Payment Channel Network On Ethereum Featured image from Pexels, Charts from TradingView.com
