Category: Cryptocurrency News

DeFi is not an uncommon term in the current financial system due to its growing impacts on the financial market. It provides solutions to the limitations of traditional finance. It encourages an open and decentralized financial transaction that won’t depend on intermediaries, like banks, insurers, brokerages, or stock exchanges. Instead, it allows the use of decentralized networks to provide services to users. Despite the fact cryptocurrency allows decentralized transactions, it is faced with the same challenges that it has always avoided; intermediaries! So, this brought about the emergence of DeFi liquidity pools. We understand that some people are not familiar with DeFi, liquidity pool, and how it works. This article will provide a simple guide to liquidity pool token and liquidity staking programs. What Factors Determine DeFi Liquidity Pool? The aim of DeFi is to ensure open finance and exclude middlemen from any sort of transactions done and that includes; loans and insurances. It seeks to enhance flexibility when buyers and sellers carry out transactions. However, liquidity has always been a major constraint of cryptocurrency and blockchain. This brought about the emergence of the DeFi liquidity pool. DeFi liquidity pool is modeled on a ‘smart contract’ which allows buyers and sellers to execute transactions and determine prices in order to achieve fairness. It supports DeFi by making it convenient and efficient for users. The term ‘liquidity’ refers to how easy it is to convert at the right price. When it comes to cryptocurrency, liquidity refers to how easy it is to sell and buy cryptocurrency without resulting in a loss of value. The exchange value of cryptocurrency increases when the liquidity rate is high and this is why the liquidity pool is referred to as the backbone of cryptocurrency. There are different factors that result in the increase and decrease of the liquidity pool rate. They include; the market, market makers, and more investment. The Market:  The lack of wide access and market efficiency impacts negatively on the liquidity of cryptocurrency and this as a result hinders communication. When the market is not efficient enough then it becomes difficult to carry out transactions between cryptocurrencies.  In order to increase liquidity rate, wallets must not be isolated to just local exchanges. The easier it is to access global exchanges, the higher the liquidity rates. So the market must be open so that people can trade with different cryptocurrencies. Market Makers:  The major factor that determines the easy conversion of cryptocurrencies to cash is the market makers. They include; trading firms and buyers. However, it is not trading firms alone, but firms that are capable of utilizing infrastructures to their advantage in order to achieve an operative market. More investment: For a market to be liquid there must be people ready to trade. When people continue to invest in the market and ensure that there are global exchanges when a transaction is done, the liquidity pool increases. When there is money people will want to trade without having to worry about the price being affected. Hence, the liquidity pool will increase. How Can DeFi Be Applied? Stablecoins: Stablecoins make use of DeFi because they deal with assets that are not tied to cryptocurrency in order to avoid fluctuation of price and they include education or making transactions in conventional stores. While there are different liquidity pool providers, Edgecoin is known to be the only stable coin that is made specifically for decentralized payments for educational fees to be accepted by universities worldwide. Hence, it creates an open market and open market system with gradecoin as their DeFi fluctuating coin. Some of the peculiar features of Edgecoin are fast transactions, fewer costs, it offers a secured global system. Edgecoin has a liquidity staking program with the motto “earn while you learn”. That means when you stake Edgecoin you will get 34% Gradecoin. Gradecoin is the governance token of Edgecoin and it has two tokens in total. Another benefit of the staking program is the large rate of demand which makes it easier to stabilize price and access to the world’s first educational stablecoin. It is very easy to get started; all you need is your desktop, visit the website edgecoinpay.com and stake. Benefits of the Edgecoin One of the benefits Edgecoin offers is an open payment system that allows institutions to make transactions that are related to education. This includes; payment for books, enrollment fees, and accommodation. So transactions have been made easier through a decentralized payment platform. Edgecoin is providing solutions to the traditional financial system by ensuring speed and also ensuring that people have access to educational infrastructure. Recently there was announced the partnership with Dublin College of Advanced Studies (DCAS), which from now accepts Edgecoin tokens as a form of payment, and more universities are lined up. Apart from all these, Edgecoin allows you to get a Grade Coin which is a coin on the DeFi market when you hold a Edgecoin. All you have to do is to head over to the website edgecoinpay.com and begin staking your EdgeCoin to receive 34% of GradeCoin before decreasing the amount of GradeCoin you get for staking. Follow these easy steps: -download Brave or Chrome  browser -connect your wallet through Metamask -choose the coins you would like to deposit and begin staking within Edgecoin -get your W-Edge coins followed with your 34% of GradeCoin at 0.20 located to your wallet that you created to deposit on.   Image by asderknaster from Pixabay

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An allusion to the start of this year’s bullish progress comes as $40,000 refuses to go quietly as resistance.

Restrictions in China have forced homegrown Bitcoin miners to move out to crypto-friendly nations such as Canada, Kazakhstan and the United States.

A new project in Russia aims to enable secure storage of inherited digital possessions like Bitcoin using a cloud-based service of state-owned Sberbank.

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Data also shows that BTC price pumps hard after such large outflows which indicates demand is still very high. https://cryptoquant.com/overview/btc-exchange-flows Keep yourself up to date with data directly from aggregators instead of having influencers interpret it for you. submitted by /u/Jollyapeinheaven [link] [comments]

The European Investment Fund invested $30 million in a new $120 million blockchain and digital assets fund, highlighting the sector’s “strategic importance” for the EU.

The Bithumb exchange has officially listed the American blockWRK project’s native WRK token. Trading of the digital asset was launched on July 27. The blockWRK project’s native WRK token was listed on the Bithumb exchange’s DeFi board on July 27, 2021 in the WRK/USDT trading pair. The blockWRK project’s tokenomic model foresees a total of 11,923,616,243.7293 WRK tokens being released, with the circulating supply currently standing at 85,869,296.7293 WRK. Trading of the WRK token started at an initial starting price of $1.01 USDT. Market statistics at the time of writing show that the token has gained traction since the launch of trading and has attained a market price of $1.47 per token. The blockWRK project is a unique HR-focused application that allows businesses to manage their workforces by setting daily, weekly or monthly goals for employees. The application includes a number of pre-installed templates that take into account key performance metrics and allow managers to include healthy, value-generating, or productivity-focused activities to be automatically rewarded in federally approved WRK tokens. The tokens are credited to employee VISA branded bank cards or accounts and can be converted into fiat, used as a means of savings, or directed at payroll. The listing of the WRK token comes as the blockWRK project has announced the launch of its application on the US market. The partnership the company has signed with a leading local payroll provider allows it to tap into an initial user base of over 150,000 American employees. Further development of the application and the conclusion of more partnerships in the near future can pave the way for the company to access over 2 million local workers. The demand for applications like blockWRK is substantial, considering the spread of teleworking in the wake of the COVID-19 pandemic. Remote working may remain a permanent feature of the future working environment, given that a recent survey reports that 4/10, or 36%, of employees in the US would prefer to quit their jobs, rather than return to an office setting. On the company side, the need for tools for employee motivation is becoming acute in light of the recent dynamics in workforce preferences. According to a recent survey by Statista, 64% of respondents from the United States plan on investing in tools for training managers to manage a more virtual workforce. 41% of companies invest in productivity management tools to support remote workforce during the pandemic.