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

SynFutures raises $14M for derivatives DEX supporting ‘anything with a price feed’

Polychain Capital led the derivative DEX’s $14 million Series A round.

Forthcoming decentralized derivatives exchange SynFutures has closed an oversubscribed $14 million Series A funding round led by Polychain Capital.

The automated market maker’s funding round also saw participation from other heavyweight crypto investors including Pantera Capital, Framework, and Wintermute. Including the DEX’s January 2021 seed round, SynFutures has nowraised $15.4 million in total.

According to an announcement, the exchange plans to offer a one-stop-shop for derivatives, allowing anybody to launch arbitrary trading pairs with any expiry date based on the value of the underlying assets for which the liquidity is provided.

SynFutures will not be alone in servicing the decentralized derivatives niche, with established projects like Synthetix and new players like Converge Finance targeting crypto-powered derivatives for real-world assets.

SynFutures’ bold objective is of "enabling trading on anything with a price feed," including speculative assets such as cryptocurrencies, traditional equities, and metals, along with more niche instruments such as products tracking the hash rate of crypto networks. It's a huge market as Polychain Capital's founder and CEO, Olaf Carlson-Wee, stated:

"In traditional financial markets, derivatives trading volume far eclipses that of spot trading and we're now seeing a similar shift in crypto, especially in centralized exchanges."

"As DEXs increasingly gain market share, we see a unique opportunity for SynFutures to become the leading futures marketplace of the decentralized economy," Carlson-Wee added.

Rachel Lin, SynFutures' founder and CEO, described the platform's mission as leveling "the playing field for the average investor by cultivating a free and open market for derivatives trading." Before starting SynFutures, Lin helped found Bitmain spin-off and Asian "neobank" Matrixport, and previously oversaw the sale of structured derivative products at Deutsche Bank.

The fundraising round's closure coincides with the alpha launch of SynFutures' platform, with the exchange targeting July for its public mainnet launch.

Related: DeFi and traditional finance could converge thanks to tokenization

SynFutures will join an expanding batch of new decentralized exchanges offering innovative derivative products.

Pendle, an AMM facilitating trade in tokens representing claims to future yields, launched on Ethereum’s mainnet earlier today after raising $3.5 million from Mechanism Capital, Signum Capital, and CMS, among others.

Pendle users can trade future yields on DAI deposited into Compound and USDC deposited into Aave.

Last month, Oiler Network, a DEX that allows traders to speculate on Ethereum's gas prices, completed a public raise through a Liquidity Bootstrapping Pool (LBP).

https://ift.tt/3vzkDFU
Labels:

Comments

Post a Comment

Popular posts from this blog

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
Read more

Year of sponsorships: Celebrities who embraced crypto in 2021

From Matt Damon appearing in a TV spot for Crypto.com to Kim Kardashian shilling EthereumMax, 2021 saw celebrities with higher profiles getting into crypto. Though the crypto space has seemingly moved beyond the endorsements many minor celebrities bestowed on token projects during the 2018 initial coin offering boom, its growing popularity and acceptance now has professional sports players, Hollywood elites and politicians backing major companies dealing with digital assets. In June 2021, Kim Kardashian promoted EthereumMax (EMAX) via an Instagram story shared with  her more than 200 million followers . The token, which was used as payment for online ticket purchases for some pay-per-view events, gained 116,000% in just one week following the celebrity’s activity before falling more than 99% and leaving many investors in the red. Kim Kardashian promoting EthereumMax on Instagram Stories, June 2021. Source: Instagram Though EthereumMax is somewhat of a cautionary tale for cry...
Post a Comment
Read more

Top 3 Rebase Token Markets Shudder — Stats Show TIME, OHM, BTRFLY Lost Billions Since All-Time Highs

While the crypto economy has shed more than 3% in fiat value during the last 24 hours dropping to $2.09 trillion, the top rebase tokens by market capitalization have seen significant losses this week. At the time of writing, the rebase token economy is valued at over $3.2 billion but has lost more than 10% in value during the last 24 hours. The largest rebase token economies such as Wonderland, Olympus, and Redacted Cartel have shed between 36% to 55% over the last week. Top 3 Rebase Token Protocols Shed Billions in Value Over the Last Week, Wonderland Down 87% Since High On the first day of November 2021, Bitcoin.com News took a deep dive into the Olympus DAO and the reserve-backed asset called OHM . Olympus is a decentralized finance (defi) project that is described as a rebase token and since Olympus started, a myriad of Olympus forks have been born. Essentially, rebase token protocols adjust the token supply in a periodic fashion or when the price fluctuates. Olympus was once ...
Post a Comment
Read more