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Ether staking withdrawal schedule removal faces harsh criticism
Twitter users called out the removal of the ETH staking timeframe and with one describing staked ETH as a “non-redeemable” investment.
Days after Ethereum turns deflationary for the first time since shifting to proof-of-stake (PoS), critics have started to highlight the Ethereum Foundation’s removal of Ether staking’s withdrawal schedule on social media.
A crypto community member pointed out how Ethereum developers, leaders and influencers mentioned that ETH staking withdrawals might be opened six months after the Merge. After this, the estimated time for the unlock was moved to 6-12 months. Furthermore, the Twitter user highlighted that the schedule was revised into an estimated 2023 to 2024 before finally being removed entirely.
Another Twitter user fanned the flames, describing staked ETH as a non-redeemable crypto investment. The user highlighted that users invested based on a timeline and were given no due date. Others mirrored the sentiment by sharing retweets of the initial post that criticized the withdrawal timeframe.
On the other hand, Ethereum supporters gave their own responses to the criticisms. Anthony Sassano, the co-founder of Ethereum resource site ETHhub, came to the network’s defence by brushing off the criticisms as attempts of Bitcoin maximalists to find other things to attack in Ethereum after being proven wrong by the Merge. Ethereum developer Antiprosynth also highlighted in a tweet that these criticisms are coming at a time when Ether's market dominance grows and Bitcoin's dominance goes down. Read More
Avalanche Founder Says Company Has ‘Very Little Exposure’ to FTX
The Ava Labs founder said that the real damage from FTX was in propping up the price of tokens to borrow against them.
While the crypto world continues to navigate the fallout from the collapse of FTX, Ava Labs says it dodged the bullet.
"We had very little exposure, and we're grateful for it," Ava Labs founder and CEO Emin Gün Sirer told Decrypt. "We ended up having very little to do with this, this is entirely outside of us, and it turns out it impacts very little the companies and projects operating in the Avalanche ecosystem."
Launched in 2018, Ava Labs is the company behind the Avalanche Network. Ava Labs built the Avalanche blockchain on the promise of extreme scaling capabilities and fast confirmation times.
In a Twitter Spaces chat with Decrypt on Wednesday, Sirer said he is "relieved" that Avalanche had little exposure to the exchange, but acknowledged the macro damage done by FTX and its then-CEO Sam Bankman-Fried. Read More
Investment Firm Paradigm Still Optimistic About Crypto — Says 'Issues at FTX Are Precisely Ones Defi Can Solve'
Investment firm Paradigm is still optimistic about crypto’s potential following the collapse of FTX. “The blowup of FTX has caused some to question crypto’s value. But the issues at FTX are precisely ones that decentralized finance [defi] can solve through increased transparency and security,” the firm’s co-founder emphasized.
Paradigm co-founder Matt Huang took to Twitter to explain the impact cryptocurrency exchange FTX’s collapse has on his company. Paradigm is a San Francisco-based investment firm focused on supporting crypto and Web3 companies and protocols.
“We are shocked by the revelations about FTX, Alameda, and SBF,” he began. FTX and trading firm Alameda Research filed for Chapter 11 bankruptcy last week. Both companies were founded by Sam Bankman-Fried (SBF), who has stepped down as the CEO of FTX.
“Facts are still coming to light, and there will be many lessons to learn,” Huang added, elaborating:
We feel deep regret for having invested in a founder and company who ultimately did not align with crypto’s values and who have done enormous damage to the ecosystem.
“Paradigm’s equity investment in FTX constituted a small part of our total assets and has now been written down to $0,” the co-founder detailed. Read More
Team Vitality and Tezos unveil V.Hive, a blockchain-based esports
Team Vitality is excited to introduce V.Hive, the first mobile app with support-to-earn in blockchain-based esports. This revolutionary app has been built on the most sophisticated blockchain in the world, Tezos. The mobile app has been made accessible on both iOS and Android platforms.
V.Hive could help Team Vitality connect more closely with the brand by facilitating their use of Web3. Team Vitality strives to be more sophisticated and generate maximum fan engagement with the help of V.Hive in order to reward the community for their support and champion.
The users will get rewards, including access to events, limited edition merchandise, and an exclusive opportunity to experience with Team Vitality players. Moreover, V.Hive enables users to build their digital identities and transform into fashionable insectoid avatars, as well as personalize them with one-of-a-kind accessories. These enticing benefits motivate players to seek out the crypto esports betting sites. Read More
Innovations that will change the way we work and interact online.
The Markethive Social Market Broadcasting Network becomes more prominent daily as the blockchain-driven ecosystem for entrepreneurs with a non-adversarial, bi-partisan free speech ethic and the collaborative culture we rarely see on social media platforms today. Even the newer acclaimed, free speech platforms are partisan to the left or right and deal with de-platforming and boycotts from payment providers.
Unlike the social media giants, which only have one primary news feed algorithmically set by the central authorities, Markethive is integrating four news feeds to accommodate the multi-functional platform within the Markethive ecosystem.
The individual feeds are General, Video, Blogging, and Content Curation, and they are all accessible from the main page and can be algorithmically set by the individual user. The scope that Markethive has is enormous as it integrates all the vertical systems of the other platforms under one roof.
Social + Video + Blogging + Marketing + Curation + Broadcasting + Affiliate + Gamification + Cottage Businesses = Markethive: A Powerful Blockchain-driven Ecosystem
There is nothing out there like Markethive. We are an Inbound Marketing (automated marketing platform) like Marketo, Paragon, and even the wannabee MLM Onpassive platform. We are like Youtube, Instagram, LinkedIn, Twitter, etc., but will be superior to these legacy Web 2 media when we release all the aspects and layout of Markethive 2.0.
We have a dynamic social media interface and growing community with a strong collaborative ethos, with SaaS and broadcasting capabilities already operational. We are not waiting for the launch to access the services; they are already there for you to use to help you facilitate your business and increase your reach and following.
Markethive is enhancing and bringing the platform into the future internet with our new technology and interfaces, but still in keeping with the human touch. Read More
Web3 Platform Angelo Prepares to Reimagine Physical Art Collection
Angelo, an investment platform tying physical fine art to NFTs, has announced its launch. The web3 platform aims to add a more tactile component to the abstract concept of NFT ownership.
The public will be able to experience Angelo for the first time when the platform soft launches with an art trading competition in December. This will provide the first hands-on access to the marketplace ahead of the official public full release in early 2023.
Angelo enables its members to invest fractionally in physical fine art via NFTs. The platform is targeted at a younger, digital-native demographic of investors who have previously had no access to physical art. Angelo will bridge the gap between the fine art world and the blockchain industry by supporting fractionalized ownership of physical art.
Angelo incorporates two core concepts: NFT fractionalization (a rapidly growing investment sector centred around NFTs divided into smaller fractions), and the more mainstream notion of physical fine art ownership which has historically been out of the average investor’s reach. Read More
UK Parliament launches inquiry into risks of NFTs
A British Parliament committee is planning an inquiry into the benefits and risks of non-fungible tokens (NFTs) and wider blockchain technology as a whole.
The Digital, Culture, Media and Sport (DCMS) Committee will assess whether NFT investment poses a risk to vulnerable speculators.
Julian Knight, Chair of the DCMS Committee, said: “NFTs swept through the digital world so fast that we had no time to stop and consider.”
NFTs broke onto the mainstream last year, driven by the success of celebrity-endorsed collections such as the Bored Ape Yacht Club. However, NFT enthusiasm has plummeted alongside the cryptocurrency markets, with trading falling by more than 95 percent since the start of the year.
“Now that the market is veering wildly, and there are fears that the bubble may burst, we need to understand the risks, benefits, and regulatory requirements of this ground-breaking technology,” Knight added.
The committee has said that the outcomes of its inquiry will likely end with regulatory suggestions for the Treasury to review. Read More
MetaMask Could Soon Launch Its Token Airdrop. Here's How to Prepare
Signs suggest that MetaMask could launch its long-awaited token airdrop in the near future. Here are a few steps that could help you qualify for it.
MetaMask seems to be moving toward decentralization, which could suggest that an airdrop is on the horizon.
Using MetaMask in different ways and interacting with ConsenSys-linked projects could help increase your chances of qualifying for the airdrop.
Swapping tokens on MetaMask and using the wallet's new bridge are two activities that could lead to an airdrop in the future.
Crypto Briefing looks at the various steps MetaMask users can take to boost their chances of qualifying for the wallet’s long-rumoured token airdrop.
MetaMask is the most popular Web3 wallet, and rumours of a potential token airdrop for active users have circulated in the crypto space for years. ConsenSys founder and CEO Joe Lubin has hinted on several occasions that a token is in the works, but the company has not yet shared full details. Interestingly, ConsenSys recently launched its MetaMask Grants DAO, an employee-led initiative to grant funding to developers outside of ConsenSys working on expanding the MetaMask ecosystem. The move could be a hint that the company is looking to decentralize the project. Read More
Crypto Traders Are Flocking to DeFi After FTX Exchange Implosion
GMX is one of several DeFi protocols to receive a boost as trust in centralized exchanges is called into question following FTX's meltdown.
The decentralized futures platform GMX has seen an increase in use following the collapse of FTX.
Last week, GMX registered a new all-time daily high trading volume of $1.17 billion.
Other decentralized trading platforms, such as the Polygon-based Gains Network, have also increased in popularity.
GMX trading volume has hit an all-time daily high of $1.17 billion in the wake of FTX’s collapse.
GMX Trading Volume Soars: Crypto traders are turning to DeFi following FTX’s implosion.
The decentralized futures trading platform GMX has soared in popularity over the past week due in no small part to the loss of trust in centralized exchanges. The DeFi protocol facilitates trustless leveraged trading using smart contracts rather than taking custody of users’ assets. Read More
Ripple Partners With Africa-Focused Remittances and Payments Firm MFS Africa
Ripple, the United States-based tech firm, has said its crypto solution known as “on-demand liquidity” is set to help MFS Africa “streamline real-time mobile payments for customers in 35 countries.” The evolution of Ripple’s partnership with MFS Africa, which has 800 payment corridors across the continent, will ostensibly see the whole region getting a chance to reap “the financially inclusive benefits.”
Enabling Faster, Low-Cost Remittances:
The United States-based technology company, Ripple, announced on Nov. 14 that it had formed a partnership with MFS Africa that is expected to help “streamline [MFS Africa’s] real-time mobile payments for their customers across 35 countries.” As part of the agreement, MFS Africa, a leading fintech group on the continent, will use Ripple’s crypto solution known as on-demand liquidity (ODL).
Commenting on MFS Africa’s decision to partner with Ripple, the mobile financial solutions company’s CEO, Dare Okoudjou, said:
MFS Africa’s mission is to make borders matter less when it comes to payment within, to, and from Africa. We’re delighted to advance this mission through our partnership with Ripple to enable fast, secure and low-cost remittances, at scale.
The CEO added that his firm’s partnership with Ripple represents its first attempt at using blockchain technologies “to amplify our [MFS Africa’s] impact on consumers and businesses on the continent growth in a new economy.” Read More
Disclaimer: These articles are provided for informational purposes only. They are not offered or intended to be used as legal, tax, investment, financial, or any other advice.
