Online Blockchain plc: Umbria DeFi Platform Announces First Airdrop of its UMBR Token 5085

Decentralised Finance (DeFi) protocol Umbria is airdropping 100,000 of its governance utility tokens to its users. Umbria, an opensource project on a mission to demystify and simplify DeFi and get people earning income on their crypto, will be rewarding eligible crypto enthusiasts with its tokens. Holders of UMBR tokens – available on Uniswap – or UMBR-ETH Liquidity Pool tokens (tokens issued for adding liquidity to the UMBR-ETH pool on decentralized cryptocurrency exchange Uniswap) on March 1st, 2021 will be able to participate in the airdrop. They will need to have a Metamask wallet.

UMBR and UMBR-ETH LP holders (minimum 100 UMBR or 2 UMBR-ETH LP) simply have to visit airdrop.umbria.network and press the “Claim Airdrop” button to get their share of the airdrop. The tokens will then be distributed directly into their Metamask wallets on April 2nd, 2021. The airdrop will be on chain facilitated by Ethereum Smart Contracts.

Users of the Umbria platform will soon be able to swap tokens and earn interest on their cryptocurrency positions on the Umbria website with other facilities coming online which will utilise the Umbria protocol and its utility token. UMBR tokens will give holders the ability to shape the future of the Umbria ecosystem itself.

“The Umbria project is a collective effort, which is already gaining good traction and seeing a lot of interest,” said Oscar Chambers, Co-Lead Developer at Umbria. “This first airdrop is a great way to reward existing participants and encourage more early adoption of Umbria, which will hopefully be a steppingstone to unlocking the mass adoption of DeFi.”

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ZK International Subsidiary, xSigma Corporation, Announces Dwight Howard from the Philadelphia 76ers to Join its DeFi Protocol as an Early LP 6635

ZK International Group Co., Ltd. (Nasdaq: ZKIN) (“ZKIN”, “ZK International” or the “Company”), a designer, engineer, manufacturer, and supplier of patented high-performance stainless steel and carbon steel pipe products primarily used for water and gas supplies, is pleased to announce that xSigma Corporation, a subsidiary of the Company, that is a blockchain R&D lab, is pleased to announce that Dwight Howard, a professional basketball player and NBA champion with the Los Angeles Lakers, has committed to joining the xSigma DeFi Protocol as an early liquidity provider (LP).

Mr. Howard committed to providing cryptocurrency for xSigma’s DeFi Protocol upon its launch. In addition, Mr. Howard has partnered with xSigma to advertise the project. Thus, it makes xSigma Protocol the first project of its kind to get a global sports influencer to the list of LPs. By doing this partnership, xSigma expects to bring more LPs and customers for its project.

xSigma Corporation is a blockchain R&D lab owned by ZK International Group Co., Ltd. xSigma’s team includes former Facebook, Google, Ripple, and Amazon engineers. xSigma’s DeFi Protocol is one of the first projects in the DeFi space backed by a public company. The DeFi industry keeps growing and now has over $36 billion of funds locked in the major DeFi protocols, according to defipulse.com.

Mr. Jiancong Huang, Chairman and Chief Executive Officer of ZK International, stated, “We are honored that Dwight Howard decided to participate in our decentralized finance platform. This is a huge step in mass-adoption of blockchain products. xSigma looks forward to bringing more opinion leaders onboard.”

Huobi DeFiLabs Weighs DEXs against CEXs 6606

Published earlier today, the Huobi DeFiLabs report compares spot and derivatives trading volumes on both centralized and decentralized platforms to identify the prevailing trends when it comes to crypto trading and make market cap projections. The platforms considered for this exercise are Huobi Global – a centralized crypto spot and derivatives trading platform, Uniswap for decentralized spot trading and dYdX decentralized derivatives platform.

It was found that during a 6-month period from Aug 6, 2020 to Feb 1, 2021, the daily trading volumes on DEXs, represented by Uniswap registered a 3.6x increase as against 1.6x increase in spot trading volumes on CEXs, as represented by Huobi Global Spot Markets. The study also found that derivatives trading is more popular on centralized exchanges than their decentralized counterparts, not to mention the absence of any direct correlation between spot and derivatives volumes on DEXs.

According to available data, spot trading on Huobi was about 19% of its derivatives trading volumes, whereas spot trading on Uniswap was 331% more than decentralized derivatives trading on dYdX. The distribution of volumes between spot and derivatives on CEXs is almost consistent across top 5 platforms, with derivatives trading 4.82 times the spot volumes. On the day DEXs reach parity with CEXs, average derivatives trading volume on dYdX based on Uniswap’s performance in the past 30 days is projected to hit $4.7 billion.

The Huobi DeFiLabs report indicates that among decentralized derivatives perpetual swap protocols continues to lead, with volumes worth $67.7 million. Based on the earlier projection, perpetual swap offerings have the potential to grow 50 times the current size. At present, there are 5 decentralized perpetual contract trading protocols – dYdX, DerivaDEX, Perpetual Protocol, FutureSwap and AlphaX, all with their own strengths and shortcomings. However, they all face one common issue which is shortage of adequate liquidity. Only FutureSwap using vAMMs and AMMs with low slippage liquidity mining seems to do a bit better than the rest. The shortage of liquidity on the rest is attributed to a higher percentage of market-place orders from short-term traders, resulting in increased deviation from latest prices.

Considering the average daily trading volumes and transaction counts, the Huobi DeFiLabs report concludes that Perpetual Swap is best suited for retail investors whereas dYdX and FutureSwap are favorable to professional traders and large investors with on-chain hedging needs.

33-Year DOD Supply Chain and Logistics Expert Jeffrey Curtis Joins SIMBA Chain as Vice President of Defense and Supply Chain 9411

After 33 years of high-level supply chain and logistics roles with the U.S. Department of Defense (DOD) and Defense Logistics Agency and a year as a private consultant, Jeffrey Curtis has joined SIMBA Chain as vice president of Defense and Supply Chain. Curtis had served as an independent consultant to the blockchain company since February 2020 after retiring from the federal government.

In this newly created role, Curtis will advise SIMBA Chain on its strategy regarding the DOD and federal government and serve as an ambassador in navigating various departments. Additionally, he will be involved with commercial business, which share the same challenges managing the increasing complexities, disruptions and cyber threats faced by the DOD. Learn more about Curtis and his new role at SIMBA Chain here> https://blog.simbachain.com/blog/meet-jeff-curtis-simbas-logistics-power-player

SIMBA Chain CEO Joel Neidig says that Curtis chose to join a startup validates the tremendous opportunities for blockchain as a critical enterprise level technology. “We could not be more pleased to have Jeff on our team. He started his career at age 22 with the DOD and rose through the ranks to become a senior executive service member known as both a supply chain expert leading policy and strategy for multi-billion dollar entities and a skilled analyst in leveraging analytical techniques. We are looking to Jeff to continue SIMBA’s growth in public and private supply chains, specifically in the areas of demand sensing, supply chain security and auditability.”

Over the course of Curtis’ career with the DOD and Defense Logistics Agency, he led policy and strategy of the $35 billion organization; developed and applied logistics policies, plans, programs, and operations for more than 5.2 million military spare parts along with all food, clothing, medicine and energy; removed over $3 billion in the Agency’s inventory while mitigating performance risk; and created a single inventory point for 90 percent of stock that generated immediate savings of $200 million and another $35 million in annual recurring savings.

Curtis, who learned of SIMBA Chain by chance at a supply chain conference, says what attracted him to join the company was that its blockchain platform is a genuine, market-proven product. “That SIMBA negotiated through the wickets of DARPA and secured multiple Small Business Innovation Research (SBIR) awards in their early days is more than impressive. Being a young company with limited bureaucracy, SIMBA has the advantage of being nimble. That’s incredibly important to both government and industry that have been forced to navigate unprecedented disruptions over the last year and need real solutions to a litany of threats. Blockchain definitely has a role in mitigating risk.”

Curtis earned a bachelor of science in Business Administration from Ohio State University. He earned Level III DAWIA Contracting from the Defense Acquisition University and completed advanced courses at the Federal Executive Institute and Institute for Defense and Business.

About SIMBA Chain, Inc.
SIMBA Chain’s cloud-based enterprise platform enables academia, industry, and governments to quickly develop and deploy Web 3.0 distributed applications (dApps) across many blockchain platforms. SIMBA Chain was born in 2017 through a DARPA grant awarded to the University of Notre Dame and ITAMCO. SIMBA Chain is the recipient of TechPoint’s 2019 Mira Award for New Product of the Year and 1st Source Bank’s 2019 Commercialization Award. The SIMBA Chain platform supports Ethereum, Quorum, Binance Smart Chain, RSK, Stellar, Hyperledger, and other blockchain protocols.

Akemona and Tritaurian Announce Partnership to Cooperate on Digital Securities Platform 7584

Akemona, Inc. (“Akemona”) and Tritaurian Capital, Incorporated (“Tritaurian”) announced today that they have entered into an agreement to jointly provide a range of services to businesses for issuance of exempt digital securities. Jim Preissler, Managing Partner of Tritaurian, said, “This partnership will position the platform to allow businesses to issue digital securities across the entire exempt offering framework that includes Regulations CF, D, S and A. This will help businesses, which are raising funds, to extend participation in their private offerings to accredited as well as non-accredited investors.”

Akemona, the first smart contract-based funding portal in the United States, helps businesses raise capital by offering and selling digital securities on its platform under SEC Regulation Crowdfunding. Tritaurian is an investment bank and the first approved broker-dealer authorized to perform the private placements of digital securities under Regulations D, S and A, including the use of distributed ledger (i.e., blockchain) technology.

Under the partnership agreement, Akemona Technologies, an affiliate of Akemona, will provide technology for issuance of digital securities to Tritaurian Capital. On the Akemona technology platform, offerings under Regulations D, S and A will be conducted by Tritaurian and those under Regulation CF will be administered by Akemona, Inc. The Akemona technology platform is owned and managed by Akemona Technologies, a provider of technology services.

Ravi Srivastava, Founding Partner, Akemona, stated, “By cooperating on the technology platform, Akemona and Tritaurian eliminate duplication and optimize information requirements for a variety of offerings conducted under multiple exemptions. This reduces the level of effort required by businesses for raising funds through concurrent offerings under different SEC regulations and ensures that the information disclosed by businesses across various offerings is consistent.”

DFI’ying Expectations: DeFiChain, the Largest DeFi Protocol on the Bitcoin Ecosystem Lists Its DFI Coin on KuCoin 8324

DeFiChain — the world’s leading blockchain on the Bitcoin network dedicated to decentralised financial applications — has today announced that it will be listing its native digital currency, “DFI” on KuCoin, one of the world’s largest and most popular cryptocurrency exchanges. KuCoin users will be able to trade DFI starting today, Thursday 21 January, 2021.

  • DeFiChain, a blockchain dedicated to fast, intelligent and transparent financial services, lists its native digital currency “DFI”, on KuCoin, the leading global cryptocurrency exchange.
  • On 14 January 2021, DeFiChain announced that its DFI coin had achieved a $1billion market capitalisation, ranking in the top 10 DeFi coins by market cap.
  • To celebrate the launch of the listing, KuCoin will be running a DFI trading competition from tomorrow, Friday 22nd January until Friday 29th January, offering participants the chance to win from a prize pool of $20,000.

DeFiChain marked a momentous milestone earlier this month, with DFI achieving a $1 billion market capitalisation, making it one of the top 10 DeFi coins by market cap. The listing of its digital coin DFI on KuCoin follows a string of recent listings for DFI, including Bitrue and Bittrex. The digital asset listing on KuCoin signals DFI’s rapidly growing popularity in the market.

Being listed on KuCoin — one of the most widely used cryptocurrency exchanges in the world — is a big breakthrough for DeFiChain. In just six months, our DFI asset has gone from $0.16 to $2.79, an increase of over 1500%! This is a clear indicator that there is real demand for DeFi amongst the masses and highlights that the path to a decentralised financial economy is just around the corner,” said Dr. Julian Hosp, Chairman of DeFiChain.

To celebrate the listing and as an added bonus for the crypto community, DeFiChain in partnership with KuCoin, will be launching a trading competition. The top 20 participants with the highest trading volume of DFI on KuCoin the chance to win a share of $20,000 in DFI. The trading competition will commence at 10am UTC on Friday 22nd January, 2021 and will last one week until 10am UTC on Friday 29th January, 2021.

In addition, for the duration of the competition, DFI can be traded with a 50% discount on maker fees, and a 25% discount on taker fees on KuCoin, enabling participants to maximise their returns.

The value of Bitcoin has been recognised by a growing number of institutional investors in future global inflation. While most see Bitcoin as digital gold, its potential in building an ecosystem has long been neglected,” said Johnny Lyu, CEO at KuCoin Global.

We are pleased to join hands with DeFiChain and will continue to support it to unleash the power of Bitcoin, resulting in a blockchain that provides higher throughput and better functionality, specifically for DeFi.

The DeFi market has experienced exponential growth recently, with the total value locked now over $22 billion. Buoyed by new innovations, the market is expected to experience continued significant growth this year, giving the industry an enduring appeal. It is DeFiChain’s mission to bring seamless and unrestricted access to a wide range of financial products and services in a completely decentralized system.

IMVU Sets New Standard For Digital Currencies With VCOIN Launch 8655

IMVU, the world’s largest avatar social platform today launched VCOIN, a transferable digital currency that allows users to buy, gift, hold, earn and convert earnings to real money for the real world. Setting the standard for digital currencies in the metaverse, VCOIN unlocks the full potential of IMVU’s virtual economy adding a robust services economy to its already thriving digital goods economy. Built on the widely-adopted Ethereum blockchain, VCOIN is an ERC-20 token that can be exchanged both on the IMVU platform, and, for the first time, off the platform.

Available now for the IMVU desktop, mobile web, and web platforms, VCOIN is seamlessly integrated into the IMVU experience, enabling secure, global peer-to-peer transactions at the click of a button. IMVU’s high-velocity economy currently sees more than 27 million transactions and 13 billion Credits changing hands each month. With the addition of VCOIN, users can now easily and instantly pay for goods and services on the platform — no complicated crypto wallets, or even bank accounts required — and then convert their earned VCOIN into cash at an established rate.

“While most virtual platforms allow users to earn in-game credits, those credits cannot be converted into anything that holds value outside of that platform or game,” said John Burris, Chief Strategy Officer, IMVU. “VCOIN is a game-changer enabling comprehensive and dynamic virtual economies where users can easily convert their earnings into fiat or transfer them off platform.”

“The service economy is a huge part of the IMVU experience,” explains Daren Tsui, CEO of IMVU. “For example, if two users want to host an event, they may hire a room decorator, a photographer, a stylist, and more, to make their event happen. Historically, payment for those services was happening off-platform which adds a layer of friction and vulnerability to the transaction. With VCOIN, users can instantly pay for those services on the platform, and then easily convert those earnings to cash around the globe.”

VCOIN will be sold at 250 VCOIN for $1.00 or $0.004 per VCOIN. Users can purchase, transact and earn VCOIN on IMVU and easily transfer VCOIN off the platform to an open digital wallet, send to any ERC-20 wallet or convert it to fiat at the original purchase price less a transaction fee. Although KYC is not required to purchase and use VCOIN on IMVU’s platform, KYC is required for users who want to transfer their VCOIN off the platform and convert it to fiat.

“This model of creating a transferable cryptocurrency is unlike any in the marketplace,” said Nancy Beaton, VP Strategy, IMVU. “Preserving the ability to play, connect and conduct peer-to-peer transactions on the platform combined with the transferable nature of the token off the platform provides users with the features, security and control they want over their in-game earnings.”

IMVU received no-action relief from the Staff of the U.S. Securities and Exchange Commission (SEC). With the no-action letter, IMVU can sell VCOIN as a transferable non-security.