Skip to main content

MLB Team Washington Nationals Partners With Terra Blockchain Community, Ballpark Plans to Accept UST

On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
Post a Comment

Defi on Bitcoin Cash Gets a Boost- Smart Money Startup General Protocols Raises $3 Million from Investors

Defi on Bitcoin Cash Gets a Boost- Smart Money Startup General Protocols Raises $3 Million from Investors

On March 1, the startup General Protocols announced the company has raised $3 million in a Series A financing round led by a number of strategic investors. General Protocols is the firm behind the Anyhedge protocol, the first decentralized finance (defi) project built on the Bitcoin Cash network.

‘The Untapped Power Behind the Concept of Programmable Money’

The company General Protocols has revealed on Monday the startup has completed a Series A financing round that was funded by a number of investors. News.Bitcoin.com has reported on General Protocols on a number of occasions, as the startup believes “smart contracts on programmable money are the foundation of a multi-trillion dollar shift toward non-custodial and trustless networks.”

At the end of December, General Protocols alongside the Detoken decentralized exchange (dex) launched the Anyhedge protocol into the wild.

Defi on Bitcoin Cash Gets a Boost- Smart Money Startup General Protocols Raises $3 Million from Investors

Being the first public defi protocol built on top of the Bitcoin Cash (BCH) network, Detoken and Anyhedge smart contract users are able to hedge or long their bitcoin cash and earn a funding premium while holding their keys in a noncustodial fashion.

During the announcement on Monday, the first non-custodial BCH derivatives exchange revealed it does around $130,000 in Total Value Locked (TVL) daily and has around $4 million in Total Historical Value Locked (THVL).

“We are proving that trustless, decentralized defi works on Bitcoin Cash and that there’s a genuine demand for it,” the company said during the funding announcement.

Defi on Bitcoin Cash Gets a Boost- Smart Money Startup General Protocols Raises $3 Million from Investors

General Protocols says that the firm has closed its first Series A funding round and secured $3 million from cryptocurrency industry execs, blockchain movers and shakers, and early bitcoin adopters. Investors who led the $3 million General Protocols’ Series A include Marc De Mesel, Roger Ver, Christopher Wu, Margus Kokk, and Mike Komaransky.

The firm said that the investors are pioneers who helped build “the Bitcoin ecosystem and are now continuing to spread peer to peer electronic cash by building out the Bitcoin Cash (BCH) ecosystem.”

General Protocols Believes ‘Smart Money and Decentralized Finance Are Only the Beginning’

The BCH-centric defi startup says that it’s been a year since they started to build decentralized finance solutions solely focused on harnessing the Bitcoin Cash network. The team’s vision is to help solve the volatility problem that plagues crypto adoption and also benefit from low fees, and instant payments via the BCH blockchain.

“The first form of that is Anyhedge, a non-custodial hedge/long protocol,” General Protocols announcement concludes. “As speculative liquidity grows, it will become easier and easier for businesses to have all the advantages of Bitcoin Cash together with stability in USD, gold, oil, or whatever asset they prefer,” the team added.

In 2020, defi has exploded in popularity on the Ethereum blockchain and there’s over $38 billion TVL according to statistics from the market aggregator defipulse.com. However, during the latter half of 2020 and into 2021, a number of other blockchains like Tron, EOS, and Bitcoin Cash have introduced defi projects.

Crypto supporters hope that blockchains like Ethereum will eventually scale to help alleviate pressure. Some proponents believe that alternative blockchain solutions will help congestion and high fees, which currently plagues the Ethereum network and its defi users.

What do you think about the $3 million General Protocols raised from strategic crypto investors? Let us know what you think about this subject in the comments section below.

Labels:

Comments

Post a Comment

Popular posts from this blog

Blockchain Software Firm Consensys Acquires Mycrypto Ethereum Wallet

On February 1, the blockchain infrastructure firm Consensys has revealed it has acquired the Ethereum-based wallet Mycrypto and plans to merge the wallet into Metamask. The price Consensys paid for Mycrypto was not disclosed but the announcement notes that the acquisition will “further improve the security of all the products.” Consensys Obtains Mycrypto Ethereum Wallet, Plans to Merge With Metamask in the Future Consensys has acquired the Ethereum-based wallet Mycrypto for an undisclosed sum according to an announcement released on Tuesday. The deal aims to strengthen the company’s Ethereum wallet Metamask and “enhance Web3 experiences.” The eventual merger between the two Ethereum interfaces will “provide users with a heightened experience that is even more extensive and secure,” according to Consensys. Consensys is an Ethereum software company led by one of the Ethereum co-founders Joseph Lubin. The Web3 wallet Metamask, with 21 million monthly active users (MAUs) is owned by C...
Post a Comment
Read more

Earn up to 50% APY by Staking $GLQ on GraphLinq App

PRESS RELEASE. The newest utility token to offer staking to its users/holders is GraphLinq Protocol’s $GLQ. As of this article, $GLQ has 4,500+ holders according to etherscan, excluding GLQ holders on CEX like Kucoin, MXC, Gate. This is a great step for the future of the project as it will further incentivize more users to hold. Explore more about GraphLinq, its staking mechanism & steps to stake. What Is GraphLinq? GraphLinq – The No Code protocol for automating actions on-chain & off-chain, launched in just March 2021, has come a long way bringing users in the crypto space a never seen model of integrating blockchain automation on any blockchain-related/non-related task. The goal of the GraphLinq protocol is to allow users to interact blockchains with any connected system as effortlessly as possible without any prior knowledge of coding. GraphLinq ecosystem currently consists of an engine, an integrated development environment ( IDE ) & an app to provide automated...
Post a Comment
Read more

The Congolese Mountain of Gold: Surprise Discovery in Africa Shows Metal’s Scarcity Is Hard to Prove

A myriad of gold bugs like to compliment the yellow precious metal for its ostensible scarcity, as estimates say only 2,500 to 3,000 tons of new gold is produced annually. While new gold discoveries have seemingly slowed, investigative studies also show that in some areas, gold is being smuggled into the economy by the ton, and often never accounted for as far as per annum issuance estimates. Recently, reports show a whole mountain of gold was discovered in the Congo, as the Democratic Republic of the Congo is well known for being a region that sees tons of smuggled gold filtered into the global financial system unreported. Surprise Gold Deposits Continue to Crack the Precious Metal’s Scarcity Proposition It has always been said that the precious metal gold (Au) is scarce, and some reports even say that gold mining on earth will end by the year 2050 . Additionally, estimates also show that there’s roughly 2,500 to 3,000 tons of new gold that is accounted for and enters into the fin...
Post a Comment
Read more