Category: Cryptocurrency News

With strong competition from networks like Solana and Cardano, will Ethereum’s dominance over NFTs hold much longer?

In its continuous bid to further drive innovation in the DeFi ecosystem, Composable is thrilled to announce and support the launch of Instrumental Finance’s Liquidity Bootstrapping Pool (LBP). An LBP is a token distribution method that allows for fair and equal participation opportunities. Instrumental with the support of Composable is launching an LBP on November 29th, 2021 to introduce their native token to the DeFi world. The LBP will take place on Copperlaunch and allows Instrumental to create a meaningful liquidity and distribution launch of their native STRM token in a capital-efficient way. Instrumental Finance is a chain and layer agnostic decentralized finance (DeFi) solution that facilitates digital asset transfers, swaps, and complex liquidity provider (LP) strategies for users to maximize their yield generation without the barriers of the siloed blockchain infrastructure. Instrumental has been incubated by Composable and utilizes several features of their technology stack and software development kit (SDK). As an example, Instrumental leverages Composable’s bridging solution, Mosaic, to facilitate transferring and swapping of LP positions across chains and layers for yield maximization. A key benefit of being built upon the Mosaic infrastructure is the capability to operate seamlessly with the partners and protocols that have already been integrated into the ecosystem, such as Arbitrium, Avalanche C-chain, and Polygon. Instrumental Finance opens up a myriad of liquidity provisioning opportunities as well as fosters interoperability in the DeFi ecosystem. Composable Finance as the face of DeFi’s future has incubated Instrumental Finance through their incubation arm, Composable Labs. Instrumental Finance complements the Composable ecosystem and sees their continued collaboration and support to power new and interoperable DeFi opportunities. This is a mutually beneficial collaborative effort as these two parties provide an environment to further facilitate and drive global adoption towards DeFi solutions. Liquidity Bootstrapping Pools (LBPs) is a type of token launch auction designed to ensure that the market decides the final price of the token at the end of the sale. LBPs continually drop the token’s price as the weighting is adjusted in favor of the collateral coins with each purchase temporarily driving up the price. Thus, LBPs ensure a fair distribution of tokens as constantly dropping prices deter whales from scooping massive amounts at the start. Rather, whales are encouraged to split huge trades into smaller chunks providing room for small pocket participants to get their fair share at a fair price. Ultimately, LBPs allows projects to obtain liquidity with meaningful and fair distribution at launch. Composable is excited about Instrumental’s LBP for the launch of the STRM token and they foresee this as a crucial venture that will drive the vision of a truly interoperable DeFi enabled future-forward.  

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The Cryptocurrency and Regulation of Official Digital Currency Bill is one of 26 new pieces of legislation for India’s lower house of parliament to consider when it convenes on Nov. 29.

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I’m using FTX.US Pro to DCA into Ethereum. I was trying to calculate what my fees for these transactions are everyday and found a column in the app labeled Fee/Liquidity. The fee is listed as “.103 Taker” (made up number for obvious reasons). How can I convert this fee into USD? submitted by …
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Was in the middle of buying my first NFT till I seen the gas fees wtf 😳 submitted by /u/swerv2183 [link] [comments]

The Turkish Lira after losing more than 40% of the value during this year, today, in less than 1 hour, it lost 10% more. Its currently at 13 Lira per $1, where earlier this year was about 7 Lira per $1. Also the conversion rate yesterday was about 1 TRY = 0.090 USD, and now…
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Crypto exchange eToro has just announced that it is delisting two major cryptos from its platform. As regulatory concerns grow, crypto exchanges have found themselves bearing the brunt of the weight and have had to take steps to avoid this. This has led to the delisting of cryptocurrencies from crypto exchanges in order to maintain compliance with the regulatory environment. The latest of the exchanges that have been bucking under the weight of regulatory concerns is eToro. On Tuesday, the exchange announced via a blog post that it will be delisting community favorites Cardano (ADA) and Tron (TRX). Users of the crypto exchange also received emails informing them of the latest development. Related Reading | Kraken Is Delisting Top Privacy Coin Monero (XMR) For UK Users eToro Limits Access For US Users According to the announcement, US users are the core user base that will be affected by the delisting of the coins. In what looks to be a multi-phase delisting, eToro is limiting access to these digital assets for users in the United States on December 26th, 2021. The first phase of this is preventing US users from opening up new positions in Cardano (ADA) and Tron (TRX). While users will still be able to close their positions, they will not be allowed to open new ones. In addition, eToro will also remove staking features for US users for both Cardano (ADA) and Trong (TRX), with final reward payouts happening on January 15th, 2022. ADA price drops to $1.8 | Source: ADAUSD on TradingView.com The statement cited the “evolving regulatory environment” as the reason behind the delistings. This is in line with Kraken delisting privacy coin Monero for its UK users. The crypto exchange had also stated regulatory concerns for the move. How Will This Affect ADA And TRX Holders? The blog post explained that Cardano (ADA) and Tron (TRX) holders will still be able to hold both assets on the exchange following the delisting. Furthermore, they will be able to sell their positions for USD. However, this, too, has an expiry date as it stated that the selling of both assets will also be limited in the first quarter of 2022. Related Reading | Cardano Founder Reiterates Long-Term Purpose Amid Sell-Off Panic For users invested in Smart Portfolios that contain either or both of these assets, eToro will convert them to open positions, which the user can choose to hold or close. Users whose portfolios copy others will be subjected to the same action taken on the portfolio being copied. So if the latter sells their Cardano (ADA) and Tron (TRX), then the assets in the copying portfolio will also be sold. Finally, users will still be able to send their holdings to the eToro Money crypto wallet past the deadline for selling and will not be forced to sell any of their holdings in either asset. Featured image from Time.com, chart from TradingView.com