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DeFi News
Cryptopotato
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Synthetix Drops $27M Derive Deal After Community Pushback
- Synthetix cancels $27 million Derive acquisition deal following negative community feedback.
- The proposed acquisition was intended to merge Synthetix's market presence with Derive's off-chain expertise.
- Community members criticized the token exchange terms and valuation of Derive, leading to the deal's withdrawal.
- Despite this setback, Synthetix remains committed to finding strategic opportunities to enhance its decentralized derivatives platform.
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Medium
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Unlocking Real-World Value on the Blockchain: RWA Token Now Live with a 4,000,000 Token Listing…
- RWA token serves as the currency in Allo's ecosystem, offering yield, governance rights, and exposure to assets on AlloX.
- $RWA token is crucial in Allo ecosystem for governance, staking, passive income, and incentivizing user engagement.
- Top crypto exchanges like BingX have listed the $RWA token, leading to strong trading activity and hosting promotional events to increase adoption.
- BingX's RWA Listing Carnival offers users a chance to earn a share of the 4,000,000 RWA prize pool by completing various tasks and aims to create buzz for the new asset.
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TronWeekly
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Bitcoin Price Surges Past $111K as OKX Rolls Out xBTC on Solana, Aptos, and Sui
- BTC surpasses the $111K all-time high, as OKX launches xBTC on Solana, Aptos and Sui.
- xBTC allows BTC holders to access DeFi backed by 1:1 without minting or burning fees.
- Bitcoin trading increased by 77% in 24 hours with futures open interest nearing $81 billion.
- OKX introduces xBTC on Solana, Aptos, and Sui, enabling Bitcoin holders to participate in DeFi activities and drive the cryptocurrency's adoption in the decentralized finance space.
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Pymnts
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Schuman Financial Integrates Euro-Backed Stablecoin With Ripple’s XRPL
- Schuman Financial has integrated its EURØP coin onto Ripple’s XRP Ledger, marking a significant step towards utilizing compliant euro-denominated stablecoins on a widely-used blockchain.
- EURØP complies with the European Union’s Markets in Crypto-Assets (MiCA) regulation, providing euro-native liquidity and compliance on the XRPL.
- The integration brings a euro-native settlement asset to XRPL, suitable for DeFi applications, tokenized real-world assets, and various payment flows.
- Stablecoins like EURØP hold potential in cross-border transactions, but their full benefits rely on infrastructure, regulatory support, and widespread acceptance among users.
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Global Fintech Series
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Dynamic Role-Based Access Control (RBAC) Systems for Decentralized Financial Platforms
- Decentralized financial platforms, known as DeFi, have transformed the financial ecosystem by removing intermediaries and enabling trustless transactions using blockchain technology.
- Dynamic Role-Based Access Control (RBAC) systems are crucial for securely managing access and permissions on DeFi platforms.
- Traditional static RBAC systems fall short in DeFi due to dynamic user roles, scalability challenges, and the trustless environment, highlighting the need for dynamic RBAC solutions.
- Dynamic RBAC systems offer features like context-aware access, smart contract integration, role hierarchies, event-driven role changes, and cross-platform compatibility, enhancing security, compliance, user experience, scalability, and interoperability in decentralized financial platforms.
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Livebitcoinnews
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Polkadot Gains Momentum as Projects Leverage Advanced Tech
- Polkadot's current price is $4.70, with a 3.83% daily growth and 21.20% growth for the month.
- Polkadot hosts 10 of the top 20 rollups, supporting a variety of use cases.
- The popularity of Polkadot is increasing due to its innovative technology supporting the crypto world.
- Polkadot 2.0 brings improvements to the network's speed and functionality, attracting more users and projects.
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Medium
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The Frog Defense Xpool: A Community-First Leap into the Future of SocialFi
- Frog Defense (FOFO) project launched its Xpool, offering a unique staking opportunity for early believers and active participants in the FOFO ecosystem.
- The Xpool allows users to stake USDT or FOFO tokens, earn FOFO Points, and convert them into real FOFO tokens after the event, with a focus on community-first approach.
- Unlike traditional crypto projects, Frog Defense prioritizes building community traction before rolling out token rewards, aiming for genuine adoption potential.
- The Xpool by BingX offers a user-friendly experience with different stake pools, hourly earnings, flexibility in unstaking, and auto-conversion of FOFO Points to tokens post-event.
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Bitcoinist
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Historic Day For Hong Kong: Stablecoin Bill Receives Legislative Approval
- Hong Kong's Legislative Council approved the Stablecoins Bill to regulate fiat-referenced stablecoin (FRS) issuers.
- The new Stablecoins Ordinance mandates licensing for FRS issuers, focusing on reserve asset management and protection of investors.
- Only licensed institutions can offer FRS in Hong Kong, and regulations aim to prevent fraud through restricted advertising.
- The Ordinance aims to establish a strong regulatory foundation for Hong Kong's digital asset market while fostering responsible industry growth.
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Global Fintech Series
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Fireblocks Launches Platform-Wide Enhancements to Power Secure and Scalable Digital Asset Operations
- Fireblocks announced platform-wide enhancements designed to meet security, scalability, and automation demands for digital asset operations.
- New platform capabilities address challenges in trading and retail businesses transitioning to blockchain-based operations.
- Enhancements include a Next-Generation Fireblocks Policy Engine, dApp Access Policy, Wallet Tagging, Batched Transfers, Sweeping, and Universal Gasless solution.
- Fireblocks aims to provide high-volume execution capabilities while prioritizing security and control for institutions and businesses.
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TronWeekly
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Uniswap Hit with Lawsuit Over DEX Tech: Is Its Core Model at Risk?
- Uniswap is facing a lawsuit filed by Bprotocol Foundation and LocalCoin in a New York federal court over the unauthorized use of Bancor's CPAMM technology.
- The lawsuit alleges that Uniswap replicated Bancor's patented CPAMM model, which is crucial for decentralized exchanges (DEX) operations, without proper authorization.
- Bprotocol Foundation and LocalCoin claim that Uniswap's success in the DeFi market was partly due to implementing patented features without licensing agreements, giving them an unfair advantage.
- Uniswap Labs responded to the lawsuit by labeling it as meritless, asserting that their protocol has always been publicly accessible and that they remain committed to transparency and innovation in the decentralized finance sector.
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Hackernoon
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Nexchain Crypto Presale is Now at Stage 13
- Nexchain is currently at Stage 13 of its presale and has raised $2.4 million, attracting attention from intelligent investors due to its innovative approach in developing a next-generation Layer-1 blockchain with real-world functionality and user-centric governance.
- Nexchain offers fast block finality, low transaction costs, and NEX token for fee payments and validator incentives, along with staking opportunities for users to actively engage in network consensus.
- The cryptocurrency market is witnessing notable developments, including Chiliz-Naver Pay collaboration, Cake Wallet's secret transactions feature for Bitcoin users, and MakerDAO's governance asset update to the SKY token.
- Nexchain's performance in its presale signifies a shift in investor focus towards assets with tangible applications, solid tokenomics, and promising development potential, positioning it as a promising investment in the growing crypto market.
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Arstechnica
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Meta hypes AI friends as social media’s future, but users want real connections
- Meta CEO Mark Zuckerberg sees a shift in social media usage towards discovering entertaining content and sharing in private messages rather than connecting with loved ones.
- At the Federal Trade Commission's monopoly trial, Zuckerberg avoided criticism about Meta allegedly buying out rivals Instagram and WhatsApp to lock users into its family of apps.
- Zuckerberg stated that people engage with social media less for personal connections, indicating a change in how users interact with online platforms.
- Meta no longer aims to dominate the personal social networking market where it initially rose to prominence, according to Zuckerberg's testimony.
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TechBullion
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447
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LITRBULL Games Announces First Major CEX Listing of $LITR Token on MEXC
- LITRBULL Games announced the listing of its native $LITR token on the MEXC exchange against Tether USDT on May 20.
- MEXC exchange plans to distribute 50 million $LITR tokens as a prize pool and open withdrawals on May 21, 2025, at 10:00 UTC.
- LITRBULL game, a Telegram-native Gamifi project on TON, has achieved over 300,000 users, with plans for further CEX listings.
- The $LITR token has a total supply of 8,045,311,447, with plans for staking to earn passive income and future game developments in 2025.
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Global Fintech Series
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216
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True Markets Raises $11 Million and Launches Stablecoin-Native DeFi Trading App
- True Markets has raised $11 million in Series A funding, bringing total funding to $20 million with support from various investors including Accomplice, RRE Ventures, and PayPal Ventures.
- The True Markets app, launched on the Apple App Store, focuses on stablecoin-native DeFi trading and operates exclusively on Solana blockchain for fast and low-cost transactions.
- Founded by former executives of Coinbase and Circle, True Markets aims to provide a seamless, non-custodial trading experience with real-time market sparklines and enhanced execution.
- The app features seamless custody through hosted wallets, superior price execution, and gasless trading, offering secure and simplified trading for retail users.
- True Markets plans to expand its offerings to include more assets, both from CeFi and DeFi ecosystems, and integrate its own centralized exchange, TrueX, for deeper liquidity.
- The founders emphasize the importance of fair and transparent trading experiences, giving users more control, access, and less risk in the crypto market.
- True Markets combines institutional-grade tools with intuitive design, aiming to redefine retail trading in DeFi by providing markets and liquidity globally.
- The platform integrates security with simplicity, allowing users to trade confidently with secure key management and automated on-chain actions, all within a non-custodial framework.
- With a focus on real-time market visualization, seamless custody, and enhanced execution, True Markets aims to make DeFi trading accessible, intuitive, and competitive for all users.
- True Markets' vision includes broader asset support, regulatory-grade compliance, and qualified custody, all within a mobile-first, institutional-grade trading platform.
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Medium
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Features of slingshotDao on Roblox
- SlingshotDAO on Roblox offers a unique gaming experience, combining engaging gameplay with community-driven development.
- It provides an immersive experience for players of all ages, with features designed to be entertaining and interactive.
- Community involvement is a key aspect of SlingshotDAO's success on the Roblox platform.
- The game challenges players with a slingshot mechanic and offers multiple modes, including campaign and multiplayer.
- SlingshotDAO's development history is marked by player feedback-driven updates and a focus on community engagement.
- By embracing the DAO model, SlingshotDAO operates as a Decentralized Autonomous Organization governed by the community.
- Player governance, decision-making, and community-driven development are integral parts of SlingshotDAO's design.
- The game's economy features in-game currency, rewards, and a marketplace for trading assets.
- With character customization, progression systems, challenges, and achievements, SlingshotDAO offers a rich gaming experience.
- SlingshotDAO's unique selling points include innovative gameplay mechanics, community involvement, and a robust trading system.
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