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Deep Dive into Polkadot’s Prime DeFi Insurer

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In Q2 2021, PolkaInsure’s mainnet will be launched and the PIS token will migrate from Ethereum to the Polkadot ecosystem.

By now, nearly everyone has heard of decentralized finance. The growth of this exciting blockchain sector has gone parabolic since mid-2020, when the total value locked in DeFi products rose from under $1 billion to over $27 billion, today — and for good reason.

The blockchain and cryptocurrency industry is finally realizing some of the promises made in the Initial Coin Offering boom of 2017 and 2018 — namely, providing decentralized access to the financial system to anyone and everyone, without the need for traditional finance and middlemen taking their cut. By decentralizing finance, users are able to take advantage of higher yields on their savings accounts, take out fully collateralized loans, receive instant payouts, and realize many other benefits.

That said, DeFi has not been without its flaws. In the race to be the best DeFi platform, many projects pushed through faulty smart contracts that resulted in massive losses from hackers and back-door exploits. Without proper code audits, various projects have already mishandled large amounts of user funds.

Enter DeFi Insurance

Ethereum, as the leading DeFi blockchain, already has decentralized insurers in the form of Cover Protocol and NSure Network. However, Ethereum’s scaling issues and high fees have pushed many users to Polkadot — where PolkaInsure is poised to be the leading insurer.

What Is PolkaInsure?

PolkaInsure is a decentralized peer-to-peer insurance marketplace specifically for users in Polkadot’s DeFi ecosystem. It allows anyone to either request insurance or provide coverage, thanks to its decentralized nature and governance.

Users do not have to go through lengthy Know-Your-Customer procedures to participate in the insurance marketplace, and payouts are instantly handled by smart contracts. Said smart contracts also ensure that insurance contracts are fully collateralized.

Though shoddy smart contracts are somewhat prevalent in the DeFi space, PolkaInsure has been audited by Arcadia Group, and external auditing firm — ensuring that the code is free from critical bugs, backdoors, or security flaws. The results from Arcadia Group are available on the firm’s website.

As implied by the name, PolkaInsure will fully migrate to a Polkadot parachain when development has completed. As of now, PolkaInsure’s token, PIS, is issued on Ethereum — due to the high level of demand for the governance token.

Tokenomics behind the PIS Governance Token

The PIS token is the governance token of PolkaInsure, in the same way UNI is the governance token of Uniswap, YFI is the governance token of Yearn, AAVE is the governance token of Aave, and so on.

The supply of PIS is capped at 100,000 tokens and distributed as such:

  • 30% is distributed to the token’s public sale.
  • 30% is distributed to add liquidity on Uniswap.
  • 20% is distributed for shield mining.
  • 5% is distributed to founders and the project’s team.
  • 10% is distributed via private sales.
  • 5% is distributed for marketing purposes.

PIS tokens will sell for $1.40 per token in the private sale and $1.80 per token in the public sale. Tokens sold in the private sale will be locked for a period of four weeks.

Earn Rewards through Deflationary Farming and Shield Mining

PolkaInsure’s deflationary PIS farming is already available on Uniswap and involves the farming of the governance tokens without new tokens being minted. This is done by staking PIS Uniswap liquidity pool tokens into the PolkaInsure farming protocol, where a fixed supply (30% of the total supply) is distributed. These tokenomics are in place in an effort to drive the price of the token higher as time progresses.

This model also allows users to earn rewards in two ways:

  1. Users may temporarily share transaction-fee rewards from users who trade PIS on Uniswap until PolkaInsure launches its mainnet, at which point Deflationary Farming will migrate to Polkadot.
  2. After the migration, users will also be able to earn rewards via Shield Mining.

PolkaInsure’s products are already launched on the Moonbeam testnet, the Polkadot Network’s smart contract parachain — illustrating that the initial steps for Shield Mining on Polkadot have already been taken.

PolkaInsure has also partnered with Value Liquidity (VALUE), a popular DeFi platform for staking and farming. Two launch pools will be available — PIS-ETH and PIS-USDT — on Value’s Farms-as-a-Service (FaaS) platform. The partnership sees the products being tested on Moonbeam.

PolkaInsure’s Plans for 2021

The PolkaInsure team has a full schedule lined up for 2021 after a strong finish to 2020.

In Q3 of last year, the PolkaInsure team conducted extensive research on DeFi insurance protocols and the Polkadot ecosystem before forming its team. Afterward, in Q4, the tokenomics were established and development began on PolkaInsure’s smart contract.

Now, in Q1 2021, PolkaInsure contracts are continually being developed and readied for deployment. This is also when the token sale will be completed and deflationary farming will be launched. More DeFi projects will be onboarded onto PolkaInsure as efforts to secure partnerships, market aggressively and establish brand authority are underway.

In Q2 2021, PolkaInsure’s mainnet will be launched and the PIS token will migrate from Ethereum to the Polkadot ecosystem — which will allow for the launch of shield mining. As more projects are onboarded onto PolkaInsure, more DeFi projects in the Polkadot ecosystem will be protected.

Why PolkaInsure?

DeFi’s upwards trajectory is clear, but scaling issues are hamstringing Ethereum. Because Polkadot is proving to be a prime competitor, opportunities on the competing blockchain may provide more upside than from those on Ethereum. Because decentralized finance is inherently risky, the importance of DeFi insurers on Polkadot will not be overlooked — making PolkaInsure an exciting project in a strong position for future growth in the sector.

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Having obtained a diploma in Intercultural Communication, Julia continued her studies taking a Master’s degree in Economics and Management. Becoming captured by innovative technologies, Julia turned passionate about exploring emerging techs believing in their ability to transform all spheres of our life.



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Galaxy Digital Leverages Blockstream Facilities for Bitcoin Mining Operations

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Despite the partnership announcement, Galaxy Digital Mining did not provide specific details on the number of machines deployed for the first installation.

Diversified financial services and investment management company in the digital asset sector Galaxy Digital (TSX: GLXY) said it is now hosting its newly-launched Bitcoin mining operations at Blockstream facilities. The diversified financial services firm noted that its Bitcoin-mining operations would use Blockstream facilities to initially deploy machines in Canada and the US.

CoinDesk said in a report that the partnership between Galaxy Digital and Bitcoin technology company Blockstream occurred less than two months after Galaxy Digital officially launched its mining operations.

In January, Galaxy Digital announced the launch of its miner financial services. At the time, the firm also added that it would begin its own Bitcoin mining business. Notably, providing financial services to Bitcoin miners has been a work-in-progress for Galaxy Digital since October 2020.

In addition, Galaxy Digital selected the former director of Mining at Fidelity, Amanda Fabiano, to head the new mining operations. Along with Fabiano, Galaxy Digital stated that there is a team of vast professionals working to advance the new unit. According to the press release, the new unit will be called Galaxy Digital Mining. The press release examined the functions of the new mining unit:

“…a new business unit committed to providing bitcoin miners with a comprehensive suite of financial services and products. Galaxy Digital Mining will serve as a one-stop financial services platform for miners-drawing the firm’s expertise in trading and risk management, investing and lending, and corporate advisory under one umbrella, tailored to the needs of the mining sector.”

Galaxy Digital Now Hosting Mining Operations Facilities

Now, Fabiano said that the company hopes to continually expand its mining operations. Despite the partnership announcement, Galaxy Digital Mining did not provide specific details on the number of machines deployed for the first installation. According to Fabiano, the financial services firm selected to use Blockchain’s facilities for “operational excellence.”

Blockstream CEO Adam Back also commented on the new partnership with Galaxy Digital. He said that Galaxy Digital has the opportunity to further growth with the Bitcoin technology company.

Earlier this year, Blockstream announced that it had purchased $25 million worth of Bitcoin mining machines from a Chinese manufacturer of crypto mining equipment MicroBT. Blockstream hopes to expand its mining operations with its new acquisition.

Data by MarketWatch revealed that Galaxy Digital stock had grown nearly 60% since the year began. The company’s stock has also spiked 189.68% in the last three months and almost 30% over the past month. With a market capitalization of $1.69 billion, Galaxy Digital stock has jumped 4.56% in the last five days. At press time, GLXY is closed at $17.41, a 5.74% loss over its previous close of $18.47.

Galaxy Digital has also partnered with CI Global Asset Management to launch a Bitcoin Fund in Canada. 

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Ibukun is a crypto/finance writer interested in passing relevant information, using non-complex words to reach all kinds of audience. Apart from writing, she likes to see movies, cook, and explore restaurants in the city of Lagos, where she resides.



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How EdgeCoin Revolutionizes Future of Education Payments

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Edgecoinpay was designed after in-depth research into the end-user and the students’ perspective for the ease of use of the current payment system in the education arena.

In a radical move that will change the infrastructure of the payment facility within the education payment system via blockchain technology forever.

A team managed by L.A Investment Ltd and supported by Mr. Chandra, who is the director & shareholder of Global Universities have announced alongside many more universities the launch of a new digital stable-coin (Edgecoin).

This is fundamentally the most important game-changing cryptocurrency in the market due to being the only educational stable-coin out there within the crypto space.

Luke Arliss&Armon Rabiee has launched the new cryptocurrency which is a stable-coin named Edgecoin. The founder, Luke Arliss, has described it as “a solution to the problems within the banking system of the prohibitive cost that is currently enforced on students”.

”We have literally just scratched the surface, within blockchain technology which is well and truly become recognized as one of the most significant technologies of our time just as the internet was some 20 years ago. It will fundamentally change the world as we know it”, – said Luke Arliss who has been a key figure in blockchain technology and in the cryptocurrency world for many years.

Edgecoin creates an open payment and decentralized system for educational payments, this was conceived some years ago following the discovery of the difficulties faced regarding education in the industry affecting not only students, parents but also universities, who continued to struggle to receive on-time payments.

Edgecoinpay was designed after in-depth research into the end-user and the students’ perspective for the ease of use of the current payment system in the education arena.

These problems include high transaction fees and compliance data security and transactions that take forever.

To solve these issues, Edgecoin was designed to make transactions through a smart contract-driven payment system powered by the “Stella” blockchain. It is also designed to allow users to make transactions without restrictions and to process them in a safe and secure environment. It also has other problem-solving features like immediate processing of payments and complete control over funds.

Edgecoin is designed to work through a simple and friendly redemption mechanism, which works through an established exchange & redeem payment processor.

Edgecoin ensures that the compliance of funds that go through the app/exchange has a strict review on the users  KYC and AML that is uploaded via the users this ensures complete security of any transaction within the Edgecoinpay system.

Explaining the importance of Edgecoin, co-founder, Armon Rabiee emphasized that “It will help ensure that even in uncertain times, users will earn more value for their money whilst staking Edgecoin as a stable coin on our app/wallet, which will automatically allow you to claim our Air-coin. Air-coin is a fluctuation token that will be listed on the DeFi market that allows users to collect significant returns on their staking of Edgecoin”.

Both Luke Arliss & Armon Rabiee stated: “We need a token that could be fully functional, and compliance approved whilst supported by all legal financial licensing to benefit all echelons of the public such as universities and the crypto community at large. With all the technology over the past century the world has become a smaller place, in fact we see it as a global village, a world with no borders. We believe not anything should suppress the knowledge and the advancement of our fellow human beings”.

They also stated: “Our goal was to create something that gave the greatest amount of benefit to our community members, to provide them with more value for their hard-earned money whilst having the opportunity to make money from AIRCOIN”.

Utilising their time much more productively and most importantly to accomplish this in a 100% absolute secure way. We also wanted to provide a stress-free solution to the exciting and sometimes uncertain times that we live in. As our community grows, so will our ability to provide more resources and benefits for everyone involved and the global community at large of Edgecoin”.

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Having obtained a diploma in Intercultural Communication, Julia continued her studies taking a Master’s degree in Economics and Management. Becoming captured by innovative technologies, Julia turned passionate about exploring emerging techs believing in their ability to transform all spheres of our life.



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Gary Black Thinks Tesla Stock Could Rally Further by Selling BTC Holding and Initiating Buybacks

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Gary Black further noted that institutional investors currently would prefer Tesla to buy back its stock to holding Bitcoin. 

Former CEO Aegon Asset Management US Gary Black thinks Tesla Inc (NASDAQ: TSLA) stock could stop bleeding out if the company sold off its Bitcoin position and initiated stock buybacks. Tesla stocks dropped approximately 27% in the past month to trade around $612.51 at the time of writing according to MarketWatch.

Notably, Tesla reported that it purchased Bitcoins worth $1.5 billion and plans to add the asset in its form of payment. Although the company is still in profit from the Bitcoin position, a respected analyst thinks the company should sell off the Bitcoin position. With the proceeds from the Bitcoin position, Tesla could then initiate its stock buyback to prevent further sell-off.

Gary Black and Tesla Stock

Gary Black further noted that institutional investors currently would prefer Tesla to buyback its stock to holding Bitcoin. “If you asked 100 institutional $tsla, shareholders, would they prefer $tsla to invest $1.5B excess cash in #btc, or $1.5B excess cash in $tsla stock, 95/100 would choose $tsla stock,” Gary noted.

One of his followers challenged him by suggesting that the company should hold on to the Bitcoin position as it finds other avenues to be productive despite the market competition. According to him, in retrospect after a decade Tesla will appreciate its Bitcoin holding greatly.

Tesla stock is up approximately 342% in the past year thanks to the increased demand globally.

Notably, Tesla stocks are down approximately 8% in the past five days. Besides, they were trading around 611.74, down 1.59% during the premarket. Consequently, a survey conducted by media outlet MarketWatch indicates 34 different ratings gave Tesla stock an average of a Hold rating.

At the time of writing, Tesla had a reported market valuation of approximately $626.98 billion with 959.85 million outstanding shares. Tesla stock, however, has been on the uptrend for the past few months.

Tesla stocks have in the past endured bear markets. Tesla CEO Elon Musk unveiled a pair of short shorts to tease investors who were short of Tesla stock.

According to Musk’s past tweets, it is unlikely that the company will sell the Bitcoin position soon. However, according to the SEC filing by the company, the company could change its Bitcoin position if the price drops below the purchase level or the crypto ecosystem is compromised by attackers.

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A financial analyst who sees positive income in both directions of the market (bulls & bears). Bitcoin is my crypto safe haven, free from government conspiracies.
Mythology is my mystery!
“You cannot enslave a mind that knows itself. That values itself. That understands itself.”





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