Libra Launch Won’t Happen Until Regulators are Happy: Coeure 18327

Libra

Global regulators will not let Facebook launch its Libra currency until all their concerns, ranging from money laundering to financial stability, have been addressed and “a prolonged discussion” may be needed first, the man in charge of their response told Reuters. Facebook announced Libra — a new digital coin backed by four official currencies and available to billions of social network users around the world — a month ago, adding that it was hoping to launch as soon as next year.

Benoit Coeure, the European Central Bank board member who chairs an international working group on Libra, said Facebook’s global reach meant the cryptocurrency had to be safe “from day one” for its users, the financial system and authorities fighting crime.

“You’ve got to be safe, robust and resilient from day one,” Coeure said in an interview on the sidelines of a Group of Seven meeting in Chantilly, France. “It’s not a learning process: either it works or it doesn’t.”

Regulators fear Libra, which in its original design would let users transfer money using a pseudonym, may be used to launder money or finance terrorism. They also want to know what safeguards Facebook and the other 27 members of the Libra Association have in place to ensure they could withstand a run on reserves and that users’ privacy and ownership rights are protected.

This may involve a “prolonged discussion” among regulators on how to change existing national and international rules to cover Libra, Coeure said.

“Down the road we might find that there are gaps or inconsistencies that would require a prolonged discussion by regulators on how to do it differently,” he said.

“Authorities are not going to let any such projects happen before we have answers to our questions and before we have the right regulatory framework.”

Cryptocurrencies are subject to patchy rules across the world, with the technology remaining mostly unregulated. While some smaller countries, from Belarus to Malta, have brought in specific laws, major economies have tended to apply existing financial rules.

Coeure said his G7 working group on stablecoins will work on the matter until the International Monetary Fund’s annual meeting in October, when it will hand it over to the Financial Stability Board of global financial regulators. Facebook said earlier this week it would not proceed with the launch of Libra until regulatory concerns are addressed.

Previous ArticleNext Article

Leave a Reply

Introducing BounceBit Testnet Phase 2: App Store 8659

Following the success of BounceBit Testnet: BounceClub East-to-West Event launched on March 8, 2024, BounceBit announces the rollout of BounceBit Testnet Phase 2: App Store.

While the previously launched Testnet BounceClub Event will operate as usual without any changes, BounceBit Testnet Phase 2 highlights BounceBit App Store’s features and encourages developers to deploy on the BounceBit Testnet by submitting their decentralized applications (DApps) to the BounceBit App Store through GitHub pull request.

BounceBit Testnet Phase 2 mirrors the mainnet environment, offering developers, validators, full node operators, delegators, and users an early preview of the BounceBit Mainnet. This phase welcomes everyone to interact with the BounceBit PoS staking chain and the BounceClub ecosystem.

Here’s what you can expect from BounceBit Testnet Phase 2:

Deploy on BounceBit testnet

BounceBit Testnet Phase 2 offers developers the chance to get an early experience of deploying on the BounceBit chain by submitting their DApps to be listed on the BounceBit App Store. The BounceBit App Store features both in-house DApps and those built by community developers or external projects. To have your DApp listed on the BounceBit App Store, submit a pull request on BounceBit’s GitHub repository. The BounceBit team will then review and, if approved, list your DApp on the BounceBit App Store. DApps that are listed during Testnet Phase 2 will receive priority consideration for being listed on the BounceBit Mainnet App Store based on their performance.

For more details on the onboarding process, please refer to BounceBit’s official guide.

Stress-testing DApps

BounceClub owners and users are invited to participate in testing all DApps that are listed on the BounceBit Testnet App Store. BounceClub owners can select and add DApps to their BounceClubs, while BounceClub users can interact with the DApps when exploring different BounceClubs.

The BounceClub community plays a crucial role in evaluating the listed DApps’ performance and security, identifying vulnerabilities that need to be addressed. This Testnet Phase 2 contributes to the resilience and reliability of the BounceBit ecosystem, striving to maintain a smooth and secure environment for all BounceBit users.

Onboarding more validators

The BounceBit Testnet has kicked off with its first set of node operators during the BounceClub East-to-West Event. Currently, there are 24 active validators participating, with a combined staking amount totaling over 1000 $BBTC and over 283 million $BB.

For Testnet Phase 2, BounceBit aims to broaden the network by inviting more validators to participate. New validators will be guided through the onboarding process for Phase 2 via Discord.

Testing BounceBit’s tokenomics

BounceBit Testnet Phase 2 will continue the rigorous testing of BounceBit’s tokenomics, including token generation events (TGE), inflation rates, vesting schedules, gas fees, block sizes, and the validator slashing mechanism. Additionally, the BounceBit native LSD module’s performance will be observed continually.

About BounceBit

BounceBit is building a BTC restaking infrastructure that provides a foundational layer for different restaking products, secured by the regulated custody of Mainnet Digital and Ceffu. The BounceBit chain, designed as a showcase of a restaking product within the BounceBit ecosystem, is a PoS Layer 1 secured by validators staking both BTC and BounceBit’s native token – A dual-token system leveraging native Bitcoin’s security with full EVM compatibility. Critical ecosystem infrastructure like bridges and oracles are secured by restaked BTC. Through an innovative CeDeFi framework, BounceBit empowers BTC holders to earn yield across multiple networks.

Injex Finance Launches Presale for $INJX Token: Join Now to Secure Early Contributions 9305

Injex Finance is excited to announce the official launch of its Presale for the native $INJX token, offering early contributors an exclusive opportunity to become part of the thriving Injex ecosystem. With the Presale now live, users can seize the moment to participate and benefit from this groundbreaking initiative.

As the cryptocurrency market experiences a significant rise in recent days, with Bitcoin surpassing $67,000 and Ethereum breaking through $3,500, the timing of the $INJX Presale couldn’t have been better placed. Big investment firms like BlackRock are also in on the bullish trend with an entry into asset tokenization.

Similarly, Injex Finance is committed to providing such timely market entry opportunity to everyone, first for its community, which is why the Presale is initially open to Injective community members, prioritizing their participation over other investors.

To ensure a seamless and user-friendly experience, Injex Finance has developed a minimalist launch website that simplifies navigation for both existing community members and newcomers interested in contributing to the Injex protocol.

Key details available on the official $INJX Presale page include:

  1. Private sale price
  2. Public sale price
  3. Token vesting period
  4. Token distribution
  5. Project roadmap

How to Join the Presale:

  • Click on Join Presale to access the Presale page [https://sale.injex.fi/]
  • Connect your preferred wallet (Metamask, WalletConnect, Keplr, or Ninji).
  • Input the desired investment amount using INJ, BNB, USDT, or ETH.
  • Provide your Injective wallet address to receive $INJX tokens.
  • Upon successful deposit, congratulations! You are now an early contributor to Injex Finance.

Injex Finance emphasizes community support, with a dedicated customer support team available to assist users facing any challenges during the contribution process.

Don’t miss out on this limited-time opportunity to participate in the $INJX Presale and secure your early contributions to the Injex protocol. Act now to become part of the future of decentralized finance.

For more information to join the Presale, visit the official Presale page [https://sale.injex.fi/]

About Injex Finance

Injex Finance is a pioneering liquidity aggregator operating primarily on the Injective network. Leveraging innovative features specific to the Injective chain, Injex Finance aims to address liquidity challenges and reduce slippage for traders across multiple pools. With a focus on community governance and transparency, Injex Finance is committed to fostering a sustainable and inclusive ecosystem for decentralized finance.

Key Injex Features

  • Optimized Trades: Injex Protocol seamlessly connects to various DEXes within the Injective Network, pooling together liquidity to ensure users get the most favorable exchange rates with minimal slippage.
  • Enhanced Efficiency: By eliminating the need for users to manually compare prices across different DEXes, Injex Finance improves trading efficiency, allowing traders to focus on their strategies rather than navigating multiple platforms.
  • Liquidity Aggregation: Our platform aggregates liquidity from multiple sources, leading to the best trade execution and enhancing overall liquidity in the ecosystem.

Injex Finance leverages the full potential of Injective’s growing network of protocols, ensuring that trades are not just executed but optimized. With the rapid expansion of this ecosystem, the need for a comprehensive aggregator like Injex Finance becomes undeniable.

Find out more on the Injex Whitepaper [http://docs.injex.fi/]

$INJX Token Utility

The $INJX Token serves as the cornerstone of Injex Finance’s ecosystem, offering users exclusive access and rewards to enhance their DeFi journey. With features like token burn mechanisms and various utility options, $INJX empowers users and strengthens community engagement within the platform.

zbyte’s SDK Launch: Igniting a New Era in Web3 Growth and Mass Adoption for Creators 10881

zbyte, the trailblazing Web3 infrastructure platform, announces the launch of its groundbreaking SDK, setting a new standard in the ease of blockchain development and accelerating the growth of Web3 ecosystems. This SDK launch is a pivotal step in zbyte’s mission to democratize blockchain technology, making it accessible and practical for creators, entrepreneurs, and developers across the globe.

Empowering Creators with Revolutionary Tools: The zbyte SDK is designed to remove the complexities traditionally associated with blockchain development. With zbyte’s innovative approach, wallet creation becomes effortless and seed phrase-free, seamlessly integrated into any existing web or mobile app with just a few lines of code. But that’s just the beginning. zbyte’s SDK empowers developers to deploy and invoke smart contract functions directly from within their web applications, all while managing gas payments seamlessly in dPLat. zbyte’s advanced gas manager ensures transactions are paid for correctly, significantly improving the success rate on blockchain and reducing errors and incomplete transactions. This launch represents a major leap forward in enabling a more inclusive and dynamic Web3 space.

The Power of the DPLAT Token: Central to zbyte’s ecosystem is the DPLAT token, The SDK will play a pivotal role in value accrual to the token.

Co-Founder Saurabh Radhakrishnan on the SDK Launch: “At zbyte, we recognize the complexities developers face with Web2 and blockchain technology, from intricate infrastructures to the decentralized nature and security demands of blockchain. To tackle these hurdles, we’ve crafted an integrated platform that simplifies the development process. Our low-code/no-code environment and intuitive tools allow developers to quickly create blockchain applications, while our SDK ensures a smooth transition from prototype to production, providing the necessary APIs and tools to scale and enhance their projects. The multichain capabilities of dPlat currently encompass Polygon and Avalanche, with support for additional blockchain networks on the horizon. This dual integration provides developers with a robust foundation for building their applications, offering compatibility with two prominent blockchain ecosystems and our roadmap includes plans to expand compatibility for a multitude of other blockchain networks. We aim to make blockchain development straightforward, enabling developers to realize their innovative visions with ease and confidence.”

The SDK-propelled ecosystem is already growing: There are developers, creators, and even companies building on zbyte’s decentralized platform. Over a dozen dApps are set to go live and promising entities like IDLink, The F* Word, and UGCVerse have launched their businesses leveraging zbyte’s infrastructure with many more in the pipeline.

ID Link’s partnership with zbyte is transforming luxury fashion by introducing a product passport that offers detailed insights into the lifecycle of each item, fostering transparency and consumer involvement in sustainable practices. Dea Baker, co-founder of ID Link, emphasizes this collaboration as a paradigm shift, letting customers make informed choices and actively engage in the circular fashion movement with zbyte’s innovative technology.

UGCVerses’s is redefining digital engagement, creating a dynamic space where virtual items evolve into real-world interactions, reshaping brand relationships with the digital generation. Lian Pham of UGCverse says “Our vision is a journey beyond mere transactions, focusing on meaningful connections that resonate with a new generation”. We are thrilled that it is powered by zbyte’s innovative technology to bring virtual and real experiences together.”

The creators are coming: zbyte is revolutionizing the transition from Web2 to Web3, serving as the ‘easy button’ for all creators, including authors, designers, artists, musicians, and developers. With a strong pipeline of 25 entities and many upcoming dApps, zbyte is set to significantly help the diverse community of creators, streamlining their journey into the Web3 space.

Rosmon Sidhik, CTO & co-founder of The F* Word, emphasizes the synergy between fashion designers and tech developers facilitated by zbyte: “Our partnership with zbyte has been instrumental in bridging the creative and technological worlds, providing an intuitive platform for fashion designers and developers alike.”

About zbyte

zbyte is a premium AI-enabled, Web3 infrastructure platform driving the acceleration of Web3 adoption by providing an easy-to-use dApp creation platform that supports multiple public blockchains. Existing skillsets can fuel a dApp economy by leveraging Web2-friendly programming languages, systems, and user experiences. The increased proliferation of dApps will attract more end-users and blockchain transactions, increasing the scale and adoption of blockchain-enabled applications.

zbyte offers an array of features and functionality to enable seamless adoption of Web3 such as an API-first approach, multiple Layer1 blockchain support, connectors to Web2 systems, usage of dapps without gas fees, portability of digital assets across chains, inbuilt ZKP-based privacy, and more all in one package. Aggregating point solutions in the Web3 industry into one platform enables dapp adoption, leading to more blockchain transactions and developer migration from Web2 at scale.

Ankr Bolsters Web3 with Expansion of DePIN Network and Introduction of New Partners 11749

In a landmark move for the blockchain industry, Ankr, a pioneer in the development of Decentralized Physical Infrastructure Networks (DePIN), is thrilled to announce an ambitious expansion of its network through strategic partnerships with leading Ultra Sound Infrastructure providers. This expansion is set to redefine the standards of a decentralized Web3, reinforcing Ankr’s position at the forefront of leveraging idle cloud computing resources to support blockchain ecosystems.

Since its inception in 2017, Ankr has distinguished itself as the first DePIN in the blockchain space, utilizing its innovative approach to democratize the internet and pave the way for a more resilient and efficient Web3 infrastructure. Today, Ankr’s commitment to enhancing performance and decentralization through its network brings forth a suite of benefits, including increased node availability, access to high-performance archive nodes, and extended geographic coverage to address gaps in node resources.

“As pioneers in the DePIN landscape, we’re excited to expand the availability of high-performance decentralized nodes through our Ultra Sound Infrastructure network. Looking ahead, we will continue to develop a cohesive DePIN experience for all network participants,” said Stanley Wu, Co-founder and CTO of Ankr.

The addition of seven new providers, including IoTex, Gateway, Storj, Clover, Tencent Cloud, Mind Heart Soul, and Ankr Labs, marks a significant leap forward in the decentralization of Ankr’s network. This expansion not only strengthens the infrastructure but also broadens support for on-chain AI and a variety of other innovative use cases, demonstrating Ankr’s dedication to meeting the evolving needs of the blockchain community.

“At IoTeX, our mission is to build a modular ecosystem where projects can easily develop DePIN initiatives. This partnership with ANKR will open up a new set of tools for DePIN builders. By enabling both IoTeX and ANKR’s infrastructure to be readily available for any project, we are positive that many new DePIN projects will come to the surface given the easiness and efficiency that these partnership tools bring to the table.” said Qevan Quo, CTO of IoTex.

Ankr’s DePIN is instrumental in serving the vast and growing needs of the Web3 ecosystem, facilitating seamless interactions between decentralized applications (dApps), developers, and enterprises across various blockchains. Through its robust network of nodes, Ankr ensures reliable performance for transactions, wallet balance queries, and smart contract executions via RPC (Remote Procedure Call) requests, with enhanced core RPC services thanks to partnerships with major cloud providers like Tencent Cloud.

This expansion guarantees amplified performance for Ankr’s RPC service customers, offering:

  • Increased accessibility of nodes to serve RPC traffic
  • Utilization of high-performance archive nodes
  • Filling geographic gaps in node resources for broader coverage
  • Unmatched speed, reliability, and efficiency across the network

Moreover, Ankr’s infrastructure plays a pivotal role in supporting on-chain AI by providing high-performance computing, data availability and integrity, and ensuring decentralization and privacy. This facilitates AI applications in predictive analytics, automated decision-making, and natural language processing directly on the blockchain. Beyond AI, Ankr’s global node infrastructure supports a wide range of use cases, from Decentralized Finance (DeFi) and Non-Fungible Tokens (NFTs) to gaming, metaverse experiences, and Decentralized Autonomous Organizations (DAOs).

The ANKR token, integral to the Ultra Sound Infrastructure program, sees expanded utility as the exclusive payment method for accessing the highest tier of infrastructure, including archive nodes. This enhancement solidifies the ANKR token’s critical role in Web3 operations, acting as a “gas” payment for multi-chain infrastructure and providing a gateway to the highest-quality Web3 infrastructure.

With these strategic partnerships, Ankr embarks on the next phase of its global infrastructure expansion, aiming to further decentralize the web and make high-quality, distributed network resources universally accessible. This initiative not only extends Ankr’s reach but also calls upon stakeholders across the web3 space to contribute to building a decentralized, secure, and efficient digital future.

Ankr is committed to continuous growth and laying the groundwork for the sustainable development of a decentralized internet. With the introduction of new DePIN partners, Ankr looks forward to expanding its high-quality distributed network and invites those interested in joining this revolutionary journey.

About Ankr

Ankr is an all-in-one Web3 developer hub that provides a full suite of tools to build Web3 apps and power them with high-performance connections to 46+ blockchains, leveraging idle cloud computing resources globally. As the approved infrastructure partner for building dedicated L2 rollups and sidechains on ecosystems like Optimism, zkSync, BNB Smart Chain, Polygon, and Avalanche, Ankr simplifies blockchain development for all use cases. Ankr creates new blockchains for projects while satisfying every requirement for infrastructure and engineering, such as validators, RPC nodes, block explorers, testnets, staking platforms, and more, for completely custom blockchain solutions.

UniDex successfully migrates to its new protocol token Molten 11747

UniDex has migrated to its new protocol token, Molten, as proposed in its recent governance vote. Molten now serves as the primary governance token for the product ecosystem and the native gas token on the Molten network.

UniDex recently introduced its Omnichain OFT Molten token as the first stage of its governance proposal. The new Molten token is designed to gradually replace the existing UniDex token. It offers a 1:1 migration with no set time limit to migrate the older UNIDX token.

The new token symbolizes the initial step towards the novel ecosystem to be developed around the Molten token for its forthcoming L2, known as the Molten Network. This token will function as the native gas token on the network, ensuring that all transaction fees are paid in Molten.

Molten aims to address the scalability issues previously encountered by UniDex, in addition to its native use for gas. The new Molten token enables bi-monthly epochs, during which Molten holders determine the quantity of new Molten entering circulation.

This inflation could incentivize usage across the Molten ecosystem, offering rewards for trading, liquidity incentives, grants, and more. Transaction fees collected from protocol usage will burn the Molten, offsetting inflation in a manner similar to Ethereum following its EIP-1559 upgrade.

Molten is much more than just a token; it powers the ecosystem behind the Molten network. The Molten L2 aims to build an ecosystem of interconnected Perp DEXs. Molten has eliminated all forms of oracle MEV, allowing builders to safely deploy leverage protocols without needing to run centralized backends. This means faster trades, more decentralized protocols, and better UX for traders.

unagi(x) by Wemade Integrates Chainlink CCIP on WEMIX3.0 Mainnet as Exclusive Cross-Chain Infrastructure for Omnichain Gaming Ecosystem 11301

Wemade, one of South Korea’s largest game developers and the founder of unagi(x), and Chainlink, the industry-standard decentralized computing platform, announced today that Chainlink CCIP—the industry standard for cross-chain interoperability—has been integrated by unagi(x) on WEMIX. As the network’s official cross-chain infrastructure, CCIP underpins WEMIX’s gaming mega-ecosystem and unagi(x)—the interoperability engine for unagi, the omnichain initiative to enable fast on-off chain trading.

The AAA MMORPG NIGHT CROWS —which launches globally in 170 countries on March 12th—will integrate unagi(x) powered by CCIP across six chains: WEMIX, Kroma, Avalanche, BNB Chain, Ethereum, and Polygon. Interoperability between this diverse selection of networks allows users to fully immerse themselves in the game, while tokenizing in-game assets on their preferred chain.

“We selected Chainlink CCIP as it offers a proven solution for cross-chain token transfers and multi-chain abstraction to enhance user experiences across Web3 gaming and beyond,” said Henry Chang, CEO of Wemade. “By seamlessly connecting WEMIX to the multi-chain ecosystem and enabling cross-chain transfers of in-game NIGHT CROWS tokens and NFTs with CCIP, we’re unlocking a novel omnichain gaming experience and interchain economy that will help drive the growth of all of Web3.”.

unagi(x) being powered by CCIP enables Web3 gamers to play NIGHT CROWS across the multi-chain ecosystem, while facilitating seamless transfers of in-game tokens and NFTs between chains. Users can freely choose their gaming chain, connecting and exchanging game tokens and NFTs with the ‘una Wallet,’ which enables users to intuitively manage assets and transfers across supported networks via the omnichain infrastructure.

“I am very impressed by how Wemade is on the cutting edge of blockchain gaming, a growing part of the entire blockchain economy, which I believe will eventually intersect with DeFi in new and interesting ways,” said Sergey Nazarov, Co-Founder of Chainlink. “We are excited to support them in their plans to lead the blockchain gaming community into the future with a secure connectivity solution.”

CCIP was selected as Wemade’s official interoperability solution because of its proven track record as the provider of oracle services used by hundreds of dApps and its dominant position as the leading provider of oracle services in the DeFi space. Advanced features including programmable token transfers and a single standardized interface for omnichain application development were also key factors leading to the decision to choose CCIP.

As a result, the integration of CCIP within unagi(x) creates a secure environment for NIGHT CROWS gamers to effortlessly navigate across chains, and positions NIGHT CROWS to redefine the possibilities of omnichain gaming.

About Chainlink

Chainlink is the industry-standard decentralized computing platform powering the verifiable web. Chainlink has enabled over $9 trillion in transaction value by providing financial institutions, startups, and developers worldwide with access to real-world data, offchain computation, and secure cross-chain interoperability across any blockchain. Chainlink powers verifiable applications and high-integrity markets for banking, DeFi, global trade, gaming, and other major sectors.

Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link.

Wemade

With over two decades of gaming industry expertise, Wemade is at the forefront of the next global wave of Web3 game developers innovating with blockchain technology. Aiming to accelerate the mass adoption of blockchain technology, Wemade is building a one-of-its-kind, experience-based, platform-driven, and service-oriented mega-ecosystem that offers a wide spectrum of intuitive, convenient, and easy-to-use Web3 services. Visit www.wemix.com/communication for more information.