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 protocol BENQI hits $1B TVL days after launching

Total value locked across DeFi is fast approaching record highs again, suggesting that crypto is in the second leg of its bull market.

Liquidity market protocol BENQI has reached $1 billion in total value locked, or TVL, less than a week after launching on the Avalanche (AVAX) network, a major milestone that highlights the explosive growth of decentralized finance (DeFi) lending services. 

Benqi Finance announced the milestone on Twitter late Sunday, where it thanked its community for the overwhelming support.

The protocol generated $200 million in TVL in the first 24 hours and $500 million in the first two days, as per the update from Aug. 21.

In DeFi, total value locked refers to the assets that are currently being staked on a specific protocol. The figure doesn’t represent outstanding loans, but the total supply that is being secured by a specific application.

Industry-wide TVL data shows a massive upsurge in DeFi activity. At the time of writing, nearly $160 billion in TVL was reported across the DeFi ecosystem. Aave is the biggest market player, representing 8.82% of TVL. Interestingly, Aave reached the $1 billion TVL milestone many months after it first launched.

Related: Aave price hits two-month high on Wall Street’s DeFi adoption hopes

The Avalanche smart contract platform has seen a swarm of activity recently, with Pangolin — another DeFi protocol focused on decentralized exchange services — reaching over $320 million in TVL.

Avalanche is doing its part to attract more developers to its platform, having only recently announced a $180 million liquidity mining incentive program. The program, dubbed Avalanche Rush, encourages more applications and tokens to migrate over to the Avalanche platform.

When asked about what makes Avalanche such an attractive platform for developers, BENQI co-founder J.D. Gagnon told Cointelegraph it has a lot to do with the optimized experience, both for users and builders:

“Firstly, Avalanche, the C-chain (the smart contract chain) in particular, is a wonderful ecosystem to experience, both as a user and as a builder. The fast finality, low fees and security guarantees makes it 10x better than many other networks. Many users have been excluded from participating in the DeFi boom on Ethereum due to high transaction costs, an issue that is largely resolved on Avalanche.”

Related: Avalanche Rush to give out more than 180M in DeFi incentives

Regarding the growth of DeFi, Gagnon said the recent growth of Binance Smart Chain and Polygon “have shown there is a significant appetite for cheap, efficient and secure networks for economic activity.” He expects Avalanche to be a significant source of that growth in the future.

https://ift.tt/384Uci3
Labels:

Comments

Post a Comment

Popular posts from this blog

Bitcoin Legal Tender in 3 Days but Survey Shows 7 Out of 10 Salvadorans Want Bitcoin Law Repealed

Bitcoin is becoming legal tender in El Salvador in three days. However, a nationwide survey conducted by the University Institute of Public Opinion (Iudop) shows that seven out of 10 Salvadorans want the government to repeal the Bitcoin Law. El Salvador’s Bitcoin Law Goes Into Effect in 3 Days The University Institute of Public Opinion (Iudop) in El Salvador conducted a study between Aug. 13 and Aug. 20 of how the public views the country’s upcoming Bitcoin Law. The institute is a research center of the José Simeón Cañas Central American University (UCA). El Salvador’s Bitcoin Law is set to go into effect on Sept. 7 , when BTC will be legal tender in the country alongside the U.S. dollar. A total of 1,281 respondents ages 18 and over participated in this national survey that “represents the entire adult population residing in the country,” according to the institute. Out of all the respondents, 62.4% said they were aware of the approval of the Bitcoin Law by the deputies of the ...
Post a Comment
Read more

Bitcoin breaking new highs in Q4 will ‘temporarily turn alts to dust’ — Analyst

Things will get exciting in quarter four, but not before a convincing floor is put in across crypto, analysts say this week. Bitcoin ( BTC ) was busy losing its overnight gains on Sept. 27 as resistance continued to prove too much for bulls.  BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Analyst on Bitcoin: “Right now, we’re stuck” Data from Cointelegraph Markets Pro and TradingView  showed BTC/USD dropping to around $1,000 below overnight highs of $44,400 on Bitstamp on Sept. 27.  The move constitutes a rejection at a “critical” zone to break, Cointelegraph contributor Michaël van de Poppe explained, with $42,000 now the key level to hold for a higher low. Bitcoin is acting in an increasingly narrow range, he summarized in his latest YouTube update. “Right now, we’re stuck,” he said, pointing to $47,000 as next should the $44,600 zone be reclaimed. On the downside, the zone between $38,000 and $40,000 remains valid for a bounce, while a co...
Post a Comment
Read more

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