# Decentralized Explained | dExplain > Insights on crypto trading straight to your inbox. Join dExplain community to chat Bitcoin, DeFi, NFTs, metaverse, market analysis, and more. Public Ghost content for AI and LLM tooling. This file includes a bounded export of public pages first, then recent public posts. Append `.md` to any post or page URL to get the content in Markdown (for example, `/example-post.md`). ## Pages ### About this site URL: https://dexplain.com/about/ Last updated: 2026-04-22T10:50:37.000Z dExplain is an independent publication launched in April 2026 by wizardfromspace. If you subscribe today, you'll get full access to the website as well as email newsletters about new content when it's available. Your subscription makes this site possible, and allows dExplain to continue to exist. Thank you! ### Access all areas By signing up, you'll get access to the full archive of everything that's been published before and everything that's still to come. Your very own private library. ### Fresh content, delivered Stay up to date with new content sent straight to your inbox! No more worrying about whether you missed something because of a pesky algorithm or news feed. ### Meet people like you Join a community of other subscribers who share the same interests. --- ### Start your own thing Enjoying the experience? Get started for free and set up your very own subscription business using [Ghost](https://ghost.org/?ref=dexplain.com), the same platform that powers this website. ### Best Crypto Cards URL: https://dexplain.com/best-crypto-cards/ Last updated: 2022-08-25T16:45:34.000Z Interest and adoption in cryptocurrency are continuing to grow, but only a tiny amount of merchants accept [Bitcoin (BTC)](https://dexplain.com/tag/bitcoin) or other cryptos directly. Luckily, there are a growing number of crypto debit cards that you can start using today such as [Binance Card](https://dexplain.com/tag/binance-card), [Coinbase Card](https://dexplain.com/tag/coinbase), or [Wirex](https://dexplain.com/tag/wirex). Bitcoin and crypto debit cards work just like any other Visa or Mastercard card you have in your wallet. [![](https://dexplain.com/content/images/2022/08/bybit-mid-banner-2.png)](https://www.bybit.com/en-US/invite?ref=M2YNXG) You can use a crypto Visa card to instantly convert and spend your cryptocurrency in-store and online. Of course, there are some minor exceptions, which is why picking the best crypto debit card for your region and spending habits is important. In this article, we will provide a crypto cards review of the current options available on the market. Along with a crypto cards comparison table so you can choose which bitcoin card to sign up for today. ## Crypto Cards Review ### **Binance Card** Binance is a leading cryptocurrency trading exchange that also provides high cashback crypto debit cards. This BTC debit card is **fee-free** and offers crypto rewards of up to 8% cashback in BNB. Furthermore, this card is very easy to manage as there is no manual conversion process to top up your card balance. Which is why its at the top of our crypto cards comparison list. All you have to do is transfer funds from your exchange wallet to your card wallet. From there, your card can convert and spend crypto-assets instantly and automatically. [![](https://dexplain.com/content/images/2021/12/binance-card-cashback.webp)](https://accounts.binance.com/en/register?ref=X8XUVA60) The Binance Card is a contactless VISA card powered by [Swipe](https://dexplain.com/tag/swipe-wallet), currently available in Asia and Europe. One key benefit compared to other high cashback crypto debit cards is you do not need to lock up any Binance Coin (BNB) to access the reward program. You do have to hold BNB, but it doesn’t matter where as long as it’s on the exchange. For more details check out our [full Binance Card review](https://dexplain.com/binance-visa-card-review-high-cashback-btc-debit-card/), or visit [their official website](https://www.binance.com/en/register?ref=X8XUVA60). Make sure you use our referral code **X8XUVA60** for a platform-wide **10% trading fee discount**. ### **Wirex Bitcoin Debit Card** Wirex crypto debit card is available in 31 countries including Europe, the UK, and Asia. This BTC debit card operates much like a traditional bank account, providing support for major fiat currencies also. If your traditional bank is not crypto-friendly, then note Wirex offers individual fiat bank account details such as an IBAN for SEPA transfers. Essentially, Wirex can also act as your crypto broker with one-click buying and selling for supported cryptocurrencies. Furthermore, by holding Wirex tokens (WXT) you will receive fee discounts and up to 2% cashback. Along with additional rewards for staking your WXT tokens! ![](https://dexplain.com/content/images/2021/12/wirex-mastercard-spend-crypto-1.webp) The Wirex Mastercard spends crypto funds automatically with no manual conversion needed. Additionally, Wirex may be the best crypto debit card for travelers as there are no foreign transaction fees. The best part is **you can sign up for free**, and pass KYC verification in under 5 minutes! For more details read through our [full Wirex Card review](https://dexplain.com/wirex-card-review-best-btc-debit-card/), or [visit their official website](https://wirexapp.com/r/f6b999ee74134b3f89e0f3386be36db2?ref=dexplain.com). ### **Crypto.com Visa Card** Previously known as the ‘Monaco Card’, the MCO Visa Card by Crypto.com is interesting because of its wide availability: USA, EU, UK, and Singapore. The reason why Crypto.com is on our crypto cards comparison list is that it is **fee-free** with up to 8% cashback in crypto rewards. What’s cool is there are no manual conversion steps, MCO Visa Card will automatically convert (with no commission!) to spend cryptocurrency instantly. Additionally, there is a benefit program that provides 100% rebates on popular subscriptions such as Spotify, Netflix, and Amazon Prime. ![](https://dexplain.com/content/images/2021/12/MCO-visa-card.webp) The only catch is your cashback amount depends on your card tier, which is set by how many CRO tokens you lock up. For the best crypto debit card experience, you need to stake 2,500,000 CRO which is roughly $195,000 – which is probably unrealistic for most users. Luckily, the free option will still earn you a 1% cashback on all purchases. For more details read through our complete [Crypto.com Visa Card review](https://dexplain.com/crypto-com-card-review/), or [visit their official website](https://crypto.com/en/cards.html?ref=dexplain.com). ### **Coinbase Card** Coinbase is a leading cryptocurrency exchange and industry pioneer, they also have a crypto debit card available in the USA, EU, and the UK. What’s great about the Coinbase card is that it connects to your Coinbase crypto wallet for seamless spending. Their app is very intuitive and is built with reporting in mind to easily track your crypto spending habits such as saving receipts. Unfortunately, it does come with a high transaction fee of 2.49% when spending cryptocurrencies. However, this may be the best crypto debit card for Coinbase traders as there are no fees for spending the dollar-pegged stablecoin USDC. ![](https://dexplain.com/content/images/2021/12/coinbase-card-image-1.webp) For US-based residents, there is a crypto reward program available offering 4% cashback in Stellar Lumens (XLM) or 1% cashback in Bitcoin (BTC). However, this scheme is not available for UK or EU users. As a result, given the high transaction costs, we would only recommend Coinbase Card if you live in the USA. Learn more in our [Coinbase Card review](https://dexplain.com/coinbase-card-review-pros-and-cons/), or head over to [their website directly](https://www.coinbase.com/card?ref=dexplain.com). ### **Eidoo Card** The [Eidoo Card](https://dexplain.com/tag/eidoo-card) is a little different than all the previous Bitcoin debit cards mentioned on this crypto cards comparison list. It’s a Visa debit card that links up to your non-custodial Ethereum (ETH) and Bitcoin (BTC) wallet (Eidoo Wallet). In short, that means you keep full control over your crypto assets as you’re the only one with the private key. For decentralized finance (DeFi) users who want to move toward being truly bankless, this is the best crypto debit card solution for you. Additionally, Eidoo Card offers up to 5% cashback as long as you stake their native PNT governance token. ![](https://dexplain.com/content/images/2021/12/eidoo-card.webp) Eidoo Card requires burning 20 PNT (\~$5) when signing up, however, after that it is **fee-free**. Though note as your wallet is decentralized, you must top up your card’s fiat balance manually and this will incur a network transaction fee. Check out our [Eidoo Card Review](https://dexplain.com/eidoo-card-review-the-best-crypto-debit-card-for-defi/) for more details, or [visit their official website directly](https://eidoo.io/?ref=dexplain.com). ### **Monolith** [Monolith Card](https://dexplain.com/tag/monolith-card) is available in the UK and EU, unlike the other crypto debit cards, this card only supports Ethereum (ETH). What’s cool about Monolith Visa Card is that your wallet is non-custodial and can manage any ERC-20 token. As a result, if you’re heavily invested in the Ethereum ecosystem and use many DeFi products this is a great crypto debit card. Monolith Wallet features an in-built decentralized exchange for swapping tokens and a fiat on-ramp for buying DAI stablecoin. ![](https://dexplain.com/content/images/2021/12/monolith-card.webp) It’s free to sign up and there are no monthly fees. However, there is up to a 2% top-up fee when converting crypto to your fiat card balance. Additionally, you’ll also have to pay blockchain transaction fees whenever you top-up your card given the wallet is decentralized. Read through our [Monolith Card review](https://dexplain.com/monolith-card-review-defi-visa-card/) for more details. Alternatively, [head over to their website](https://monolith.xyz/?ref=dexplain.com). ### **Plutus Card** The [Plutus crypto debit card](https://dexplain.com/tag/plutus-card) is currently only available to EU and UK residents. They plan to launch in Asia and Latin America in 2021\. Plutus Card is perfect for users looking for a decentralized approach for spending cryptocurrency quickly. All crypto to fiat conversion happens through PlutusDEX which is a peer-to-peer trading platform. However, as a result, it only supports Ethereum (ETH) and their native Pluton (PLU) token. You can sign up for free and pass verification within a couple of minutes, but it will cost €9.99 to order the card. ![](https://dexplain.com/content/images/2021/12/Plutus-Card-Image-1.webp) Additionally, there is a 1.75% trading fee which you will incur every time you want to top up your card. This is a manual process, as Plutus Card does not support automatically converting and spending crypto. Most of these fees are waived by signing up for their premium subscription model. Additionally, Premium Plutus Cardmembers will earn up to 3% cashback in PLU crypto rewards. For more details read through our [Plutus Card review](https://dexplain.com/plutus-card-review-best-crypto-debit-card-for-eth/), or check out [their website directly](https://dex.plutus.it/auth/signup?ref=dexplain.com). ## Crypto Cards Comparison The crypto debit card market is still very young with many options to choose from, perhaps even too many! This is why we wrote this article to highlight the best crypto debit cards and compare the deals available today for various cryptocurrency Visa or Mastercard cards. To summarize, it highly depends on where you live to figure out the best card for you. ## Crypto Cards by Region ### North America If you’re based in the US or Canada then [Crypto.com](https://dexplain.com/crypto-com-card-review/) is your best option. Their platform features low fees, plus the cards have a generous cashback and rewards scheme when spending crypto. ### Europe For users based in the European Economic Area (France, Germany, Spain, Italy, Sweden etc…) we recommend [Binance Card](https://dexplain.com/binance-visa-card-review-high-cashback-btc-debit-card/) as it offers zero fees and a high cashback scheme. If your not a fan of the Binance platform, then you should take a look at [Wirex](https://dexplain.com/wirex-card-review-best-btc-debit-card/). ### United Kingdom If you’re from the UK, our choice would be [Wirex Mastercard](https://dexplain.com/wirex-card-review-best-btc-debit-card/). Their platform has one of the easiest sign up processes, allowing you to be verified within minutes. Additionally, they hold a FCA e-money licence meaning no fears of the platform becoming unavailable to UK residents in the future. ### APAC (Singapore, Australia, Hong Kong) Currently, the two cards with the widest world coverage are [Crypto.com](https://dexplain.com/crypto-com-card-review/) or [Wirex](https://dexplain.com/wirex-card-review-best-btc-debit-card/). Therefore, if you’re from the Asia-Pacific such as Singapore, Hong Kong, or Australia then those will be the best card options to explore. Both cards offer low fees and crypto rewards, so it will come down to which option supports your country. ## Crypto Cards by Fees The cards offering the lowest fees when spending Bitcoin and major cryptocurrencies: - [Crypto.com](https://dexplain.com/crypto-com-card-review/), (US) - [Binance](https://www.binance.com/en/register?ref=X8XUVA60), [Wirex](https://dexplain.com/wirex-card-review-best-btc-debit-card/) (EU, UK) - [Wirex](https://dexplain.com/wirex-card-review-best-btc-debit-card/), [Crypto.com](https://dexplain.com/crypto-com-card-review/) (APAC, Australia, Singapore, Hong Kong) ## Crypto Cards by Limits Following our crypto cards review, these options offer the highest monthly limits and ATM withdrawals: - [Coinbase](https://dexplain.com/coinbase-card-review-pros-and-cons/) (US) - [Wirex](https://dexplain.com/wirex-card-review-best-btc-debit-card/), [Coinbase](https://dexplain.com/coinbase-card-review-pros-and-cons/) (EU, UK) - [Wirex](https://dexplain.com/wirex-card-review-best-btc-debit-card/) (APAC, Australia, Singapore, Hong Kong) ## Crypto Cards for DeFi For DeFi enthusiasts and heavy Ethereum ecosystem users looking for a crypto debit card, currently, you will need to reside in the UK or Europe. The only non-custodial Bitcoin card is [Eidoo](https://dexplain.com/eidoo-card-review-the-best-crypto-debit-card-for-defi/), [Monolith](https://dexplain.com/monolith-card-review-defi-visa-card/), and [Plutus](https://dexplain.com/plutus-card-review-best-crypto-debit-card-for-eth/). If this is a must HAVE for you, then Plutus plans to expand their region availability in 2022/2023. Hope you enjoyed reading through our best crypto cards comparison article. What’s your favorite bitcoin card? Did we miss an option in our crypto cards review? Hop in our discord server and let us know! ### Disclaimer URL: https://dexplain.com/disclaimer/ Last updated: 2021-12-03T17:10:06.000Z ## Do Your Own Research The information provided on this website should not be taken as investment advice, financial advice, trading advice, or any other sort of advice. dExplain does not recommend the use of any decentralized application nor that any cryptocurrency should be bought, sold, or held by you. You should do your own research and consult a financial advisor before making any investments. ## Information Accuracy We will endeavor to ensure accuracy of information found on this website although it will not hold any responsibility for any missing or wrong information and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control. dExplain provides all information as is. You understand that any reliance you place on such information is therefore strictly at your own risk. ## Non Endorsement Via this website, you will find links to third-party services that are not under the control of dExplain. We have no control over the nature, content, and availability of those websites. The inclusion of any advertisements or links does not necessarily imply a recommendation, an endorsement, guarantee, or warranty by dExplain. 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In practice, User will usually either expressly agree in advance to use of User’s personal information for marketing purposes, or dExplain will provide User with an opportunity to opt out of the use of User’s personal information for marketing purposes. ## **(9) Third party websites** The Website contains links to other websites. dExplain is not responsible for the privacy policies or practices of third party websites. ## **(10) Updating information** Please let dExplain know if the personal information which dExplain holds about User needs to be corrected or updated. ## **(11) Contact** If User have any questions about this privacy policy or our treatment of User’s personal information, please direct message [dExplain](https://twitter.com/dExplain%5Fcom?ref=dexplain.com) via Twitter. ### About URL: https://dexplain.com/about-2/ Last updated: 2023-01-30T10:26:09.000Z ## The Origins dExplain originally started as an analytical tool for following token swaps on [Ethereum](https://dexplain.com/tag/ethereum), in May 2020\. An idea coded by [@flipthatmoney](https://twitter.com/flipthatmoney?ref=dexplain.com) who enlisted [@mf\_reason](https://twitter.com/mf%5Freason?ref=dexplain.com) (me) to write content. 💡 Like dExplain's content? Sign up to [Bybit with my ref link](https://www.bybit.com/invite?ref=M2YNXG) to support the site, thanks! We indexed trades happening on decentralized exchanges such as Uniswap, Kyber, or Bancor. It gave us a bit of an edge for trading newly launched tokens. Especially during the infamous DeFi Summer and launch of platforms such as [Sushiswap](https://dexplain.com/tag/sushiswap). It was a time of bountiful yield farming harvests, where aping into new tokens & farms proved ridiculously rewarding even for the smallest of portfolios. > Hello World! ;) Happy to introduce a new analytical tool for following swaps on [@UniswapProtocol](https://twitter.com/UniswapProtocol?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) and [@KyberNetwork](https://twitter.com/KyberNetwork?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) [https://t.co/XU4x2rjHqY](https://t.co/XU4x2rjHqY?ref=dexplain.com) > > Our daily summary shows aggregated trading statistics from both protocols for the past 24h, along with token markets to keep your eye on. [pic.twitter.com/KkOGAEiGe4](https://t.co/KkOGAEiGe4?ref=dexplain.com) > > — dExplain (@dExplain\_com) [May 14, 2020](https://twitter.com/dExplain%5Fcom/status/1260997765133488128?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) However, this quickly brought to the forefront a looming problem: gas fees. Excessively high network fees on Ethereum quickly made the reward of trading unknown tokens (shitcoins) redundant. And it killed out enthusiasm for building new features into the tool. ### Crypto News Era ![](https://dexplain.com/content/images/2021/12/dexplain-stay-informed-1.png) So we pivoted towards writing crypto news, project reviews, interviews, and more. Packaging it up and sending it out in a bitesize newsletter, starting the dExplain community. Pretty much everything we were doing ourselves to follow updates in the space, insights that can improve our trading and investment decisions. [Deja VuBitcoin back to trading at $50k and funding rates are going up again... a familiar story? Only question is will BTC make a new ATH this year.![](https://dexplain.com/favicon.png)Decentralized Explained | dExplainmf\_reason![](https://dexplain.com/content/images/2021/12/deja-vu.png)](https://dexplain.com/deja-vu/) At the same time [non-fungible tokens](https://dexplain.com/tag/non-fungible-tokens), collectibles, and the metaverse was exploding in popularity. So we added it to the agenda, and covered it all. Sending out a newsletter three times a week while publishing DeFi tutorials for [Binance Smart Chain](https://dexplain.com/tag/binance-smart-chain) or [Solana](https://dexplain.com/tag/solana). Independent journalism at its finest! Time though... is a valuable asset and we just didn't have enough of it. Managing a full blown news portal while trading crypto full time proved a little too tricky. So the days of daily posts and step by step tutorials are behind us. --- ## Decentralized Explained Today dExplain is a community where I share my thoughts on the cryptocurrency market. Direction of Bitcoin, Ethereum, and altcoins for the long term and short term. Where to start trading along with tips on avoiding some of the common pitfalls of crypto trading. Which DeFi protocols to use for farming rewards with your [stablecoins](https://dexplain.com/tag/stablecoins). Which Metaverse NFT collections look interesting. Most of all, its a community of likewise crypto individuals! Trading can quickly become a lonely game, so come bounce some thoughts off other members in [our discord chat](https://discord.gg/Ak9MYtqfRC?ref=dexplain.com). My aim is to build a community that benefits beginners and experts alike, a great place to hangout. So be sure to subscribe for the latest posts, and follow on Twitter. [https://twitter.com/dexplain\_com](https://twitter.com/dexplain%5Fcom?ref=dexplain.com) [https://twitter.com/mf\_reason](https://twitter.com/mf%5Freason?ref=dexplain.com) Note that everything read on dExplain website, via out twitter account, or in our discord server falls under the following [disclaimer](https://dexplain.com/disclaimer/). ### Crypto Exchanges: Where To Sign Up? URL: https://dexplain.com/crypto-exchanges-where-to-sign-up/ Last updated: 2023-01-30T10:29:45.000Z Keep being asked where I like to trade, so here is a quick list of my favourite crypto exchanges. These are trading platforms I use on a regular basis, so thoughts are all from experience. 💡 Sign up with any of the referral links below for discounts on your trading fees along with other bonuses. Plus you will be supporting me to write more content! **Update 14/11/2022**: Obviously I've removed FTX from my recommendations, given they went bankrupt. It was my favourite exchange for day trading, so I took a big hit. Not out of the game but definitely taking a break. With hindsight I should have had less of my portfolio there. Best practice is to spread out across multiple CEXs, along with keeping a big chunk of your portfolio in cold storage. - [Bybit](https://www.bybit.com/en-US/invite?ref=M2YNXG) \- Currently, this is my favourite platform and feel its the best crypto trading platform for futures. Especially recommend Bybit if your style is more intra day trades and quick scalps. The orderbooks are active with many participants, meaning you won't have a problem to fill market buy and sell orders quickly. So no issues to enter and exit positions on the fly when market conditions are choppy. How many times have we clicked buy or sell just to see the order fill 30 seconds later? In crypto that can mean a big difference in your entry/exit price. Plus, Bybit has just as many perpetual contracts as Binance, so you can trade a whole range of altcoins with leverage. Their UI is extremely easy to (pretty much a mirror of Binance) and their mobile App works smoothly. Bybit are also great at regularly rewarding you for trading on their platform and feature generous sign up bonuses. [![](https://dexplain.com/content/images/2022/08/bybit-mid-banner-1.png)](https://www.bybit.com/en-US/invite?ref=M2YNXG) - [Delta Exchange](https://www.delta.exchange/app/signup/?code=VVRPEI&ref=dexplain.com) \- I use Delta more for a *degen* account, where I take more risk with a smaller account size. Positives is you can sign up in a couple minutes without needing any KYC or verification requirements. And will earn DETO tokens as rewards for trading. Also has some generous bonuses for your first deposit! Drawback is much lower volume & liquidity than the bigger CEXs so bear that in mind. One big reason why I've signed up on Delta is to use their growing Options trading. Not something that is my strong suit, but an area of trading I want to learn about and write about. It's one of the only platforms where you can buy puts or calls on altcoins. - [Binance](https://accounts.binance.com/en/register?ref=X8XUVA60) \- Pretty much everyone knows Binance as the number 1 cryptocurrency exchange, so it shouldn't need an introduction. The UI is great easy to understand, and their mobile app runs smoothly. Personally, I don't trade on Binance as much as before because their futures platform is no longer available for France. That being said it has the most Altcoin pairs, along with BTC pairs. This is great for when you believe an Altcoin will outperform Bitcoin in the short-term. So your strategy will be to sell the token to increase your BTC holdings. They've also been making big strides for fiat deposits and withdrawals, EU users can do this via a SEPA transfer for a small fee. Their spot orderbooks run deep so you don't have to worry about big spreads eating up your potential profits. Another plus for having a Binance account is signing up for their [crypto debit card](https://dexplain.com/best-crypto-cards/). - [KuCoin](https://www.kucoin.com/ucenter/signup?rcode=r3D6E6L&ref=dexplain.com) \- I don't trade on a daily basis on KuCoin, its my go-to place to find lower cap gems where the idea is to hold for a couple of months. KuCoin appears to be a little more relaxed on their listing requirements so generally coins will list here before ending up on bigger platforms such as Binance. That being said the platform is steadily growing&attracting users so I do know plenty of traders that use KuCoin as their main spot/futures account. That's it! No point spreading your portfolio across too many exchanges, then it will become too tricky to manage. Thoughts? Hop in our [discord](https://discord.gg/Ak9MYtqfRC?ref=dexplain.com) and let me know! ## Posts ### What is Meteora? MET Token and Solana DLMM Liquidity Review URL: https://dexplain.com/meteora-met-token-review/ Last updated: 2026-08-21T10:21:30.000Z Meteora is a liquidity infrastructure protocol built on Solana. The aim is to make capital more efficient for liquidity providers and token launches than a standard constant-product AMM allows. Much like other Solana DeFi tools, it sits underneath swaps routed through aggregators such as Jupiter, so traders can touch a Meteora pool without ever opening the app. The unique side is its Dynamic Liquidity Market Maker (DLMM), which replaces a flat price curve with discrete price bins and fees that move with volatility. ## What is Meteora and the MET token? Meteora grew out of Mercurial Finance before rebranding, and it has since become a core piece of Solana's liquidity layer. It offers DLMM pools with dynamic fees and bin steps, DAMM v2 pools, and Dynamic Vaults that help LPs and new token launches earn better yields while reducing the inefficiencies of standard AMMs. The $MET token powers governance, staking rewards, and a share of protocol fees across the ecosystem. Its maximum supply is 1 billion, with a large portion already circulating since the token generation event in October 2025. ## How Meteora works: the DLMM DLMM stands for Dynamic Liquidity Market Maker. Instead of spreading liquidity across every possible price, it lets you place capital where trading actually happens. [@Made\_Xtreme01](https://x.com/Made%5FXtreme01?ref=dexplain.com) explained it well: > Think of it as putting your shop on a busy street instead of an empty one. **Price bins.** DLMM organizes liquidity into discrete price bins, each representing a specific price range. As an LP you choose the bins your liquidity sits in. When trading occurs in those bins, your liquidity becomes active and earns fees. **Dynamic fees.** Traditional DEXs charge fixed fees. DLMM adjusts the fee with market activity and volatility. That rewards LPs during busy periods and keeps liquidity available when demand is high. **Liquidity strategies.** LPs pick a strategy that fits their goals. A wider price range gives more stability; a narrower range gives greater capital efficiency but needs more active management. There is no one-size-fits-all. **On-chain limit orders.** DLMM also powers limit orders. You set a target price; when the market reaches it, the order can fill without a centralized exchange. Meteora pays the user 50% of the position's fees when a limit order fills. As a result, DLMM concentrates liquidity around active prices, which improves capital efficiency and lowers slippage for traders while opening sharper fee capture for LPs. ## The numbers for the first half of 2026 Meteora's own Token Holders' Report for the first half of 2026 (shared by [@MeteoraInside](https://x.com/MeteoraInside?ref=dexplain.com)) lays out where the protocol stands: - $32.1B in volume and $164.3M in fees for the half, both down as Solana activity cooled. - The take rate rose to 11.08%, up 148 basis points from 9.60% in the second half of 2025\. While activity fell, Meteora's cut of that activity got stronger. - During May 2026 the protocol doubled its share of DLMM LP fees from 5% to 10%. Six weeks of data showed LPs did not leave: weekly unique depositors rose from 7.0K to 8.8K, and an LP who stayed earned more per dollar deposited after the change than before (gross fee yield on TVL went from 6.7% to 8.7%). - Tokens launched on pump.fun generated $50.2M of DLMM trading fees in the first half of 2026, about half of all DLMM LP fees. On those tokens DLMM's realized fee rate averaged 1.33% against PumpSwap's flat 0.25%. The fee increase was not pure extraction. $500K was committed to growth alongside it, split between a team fund and a community fund run by the LP Army, and 10% of DLMM protocol fees now funds staking rewards with another 10% funding referral rewards. ## The MET token and Referral Staking MET's first real utility experiment is Referral Staking, and it is worth understanding because it is the mechanism that pays both stakers and people who refer others. When you stake MET, you earn a share of DLMM protocol fees — the same 10% fee share the protocol takes from LP activity funds the staking rewards. Referrers earn from a separate 10% slice of those fees, so inviting others to provide liquidity feeds the same pool of rewards. This is what the May 2026 fee-share increase (from 5% to 10%) was designed to pay for: more of each dollar of volume now flows back to MET holders and the people bringing liquidity to the protocol. Adoption came quickly. The program opened in July 2026 and drew 55.5M MET staked in its first two days, reaching 70.0M MET (about 7% of total supply) across 2,442 wallets within weeks. An LP who stays deposited earns more per dollar after the change than before it, so the larger fee share has not pushed liquidity away. The protocol also buys back MET with protocol revenue. The buyback wallet held 38.8M MET (3.9% of supply) as of mid-2026, and monthly token unlocks run on a fixed schedule of about 7.22M MET with no added emissions. Team tokens moved into Jupiter Lock on the same schedule, releasing continuously rather than in lump monthly transfers. ## Getting started with Meteora You connect a Solana wallet, pick a pool type (DLMM for bin-based strategies, DAMM v2 for launch-style pools), and choose your bins and fee tier. If you want to refer others, the referral program pays rewards from DLMM fees, so sharing your link compounds with the staking flywheel. You can explore Meteora through my referral link here: [https://www.meteora.ag/ref/FY92A8R85E](https://www.meteora.ag/ref/FY92A8R85E?ref=dexplain.com) ## Risks to weigh - DLMM bins concentrate capital, so volatile tokens can move out of range fast. You earn nothing until price returns, and narrow ranges need active management. - Many top pools are memecoins. Token failure or a rug hits LPs directly, and dynamic fees price that risk rather than remove it. - MET carries ongoing unlocks (about 7.22M per month), a steady dilution headwind on the token. - As with any DeFi, smart-contract and aggregator-routing risk apply. Meteora publishes audits through its docs. Looking to the future, Meteora is pushing LP positions to behave like the trading instruments Solana users already know, with limit orders, Quote Token Fees (where LPs choose which token they earn in), and tokenized-equity pools extending what on-chain liquidity can hold. ### What Happened to Alpha Finance and the ALPHA Token? URL: https://dexplain.com/what-happened-to-alpha-finance-alpha-token/ Last updated: 2026-07-17T16:26:47.000Z Back in 2020 and 2021, Alpha Finance Lab was one of the most talked-about names in DeFi, best known for [Alpha Homora](https://dexplain.com/what-is-alpha-homora-leveraged-yield-farming/), a leveraged yield farming protocol, and its planned AlphaX perpetuals platform. The project has since rebranded and repositioned itself. Here we will take a look at what happened to Alpha Finance, the ALPHA token, and what the project looks like today. ## What Was Alpha Finance? Alpha Finance launched as a cross-chain DeFi platform, with Alpha Homora as its flagship product. Alpha Homora let users take leveraged positions on yield farming, borrowing capital to amplify returns. As a result, it attracted significant total value locked during the DeFi boom. The ALPHA token was used for governance and staking across the ecosystem. However, the leveraged nature of the protocol also carried real risk. In early 2021, Alpha Homora was involved in one of DeFi's most notable exploits, in which an attacker drained tens of millions of dollars by combining an Alpha Homora vulnerability with a flash loan. The incident became a widely studied lesson in the risks of composable, leveraged DeFi. ## The Rebrand: From Alpha to Stella Rather than continue under the original branding, the team rebranded Alpha Finance to [Stella](https://stellaxyz.io/?ref=dexplain.com), refocusing on leveraged strategies with a "zero-cost" borrowing model designed to reduce some of the risks of the earlier approach. As a result, the project today is quite different from the 2021 version that inspired so many bullish predictions. ## The ALPHA Token Today The original bullish case for ALPHA rested on aggressive DeFi growth and continuous new product launches. In reality, the 2022 bear market, the exploit, and shifting DeFi narratives changed the picture dramatically. This is a useful reminder for readers: token price predictions, especially ["10 reasons this will moon" style pieces](https://dexplain.com/10-reasons-alpha-token-will-be-a-defi-juggernaut-in-2021/), rarely age well. As a result, the most durable approach is to understand a protocol's mechanics and risks rather than chase price targets. ## Looking to the Future Looking to the future, the lesson from Alpha Finance is less about one token and more about how quickly DeFi narratives change. Leveraged yield strategies still exist and have evolved, but the projects, brands, and risk models have moved on considerably since 2021\. Always do your own research and treat any single-token prediction with healthy skepticism. *This article was updated in July 2026 to reflect Alpha Finance's rebrand to Stella and the evolution of the ALPHA ecosystem since 2021.* ### Crypto Trader's Guide: Emotional Checklist URL: https://dexplain.com/crypto-traders-guide-emotional-checklist/ Last updated: 2023-02-06T16:51:03.000Z A lack of emotional awareness is a key downfall for traders. Once you have your trading strategy in place, a plan for the trade, then it comes down to execution. At this point execution is more important than analysis. And what can mess up your execution? Emotions. As humans we're all weak when it comes to our emotions. As traders they can lead us to deviating from our initial plan. Resulting in us making bad trades. And nobody wants to make bad trades, so let's talk about how we can improve our self-management. ## Emotional Checklist For Trading A trader's self management is an often overlooked subject. We focus on learning how to read price action or the best indicators to have on a chart. It won't matter how many perfect trades you make, if you're unable to cut the bad ones. Over positioning or holding trades past invalidation points are sure signs that emotions have got the better of you. [Crypto Exchanges: Where To Sign Up?Which cryptocurrency exchange should I use? List of best platforms for trading crypto on spot or futures: FTX, Delta, Binance, KuCoin.![](https://dexplain.com/content/images/size/w256h256/2021/12/dexplain-brain-2-1.png)Decentralized Explained | dExplainmf\_reason![](https://images.unsplash.com/photo-1640340434855-6084b1f4901c?crop=entropy&cs=tinysrgb&fit=max&fm=jpg&ixid=MnwxMTc3M3wwfDF8c2VhcmNofDUyfHxleGNoYW5nZXN8ZW58MHx8fHwxNjQyNjEyNTA2&ixlib=rb-1.2.1&q=80&w=2000)](https://dexplain.com/crypto-exchanges-where-to-sign-up/) Below I will go through some psychological states that I've come across through my trading career. Though let's quickly talk about the importance of managing risk. If you've never thought about risk management for your trades, then stop reading here. Walk back a few steps and dive into my article on [Risk Management for crypto trading](https://dexplain.com/risk-management-surviving-the-trading-marathon/) first. No risk management means you will eventually blow up your account. ### Why emotions are linked to risk management? Long term success in trading comes down to following your risk management rules. Being able to keep your portfolio drawdown to a minimum. These are trading decisions that are linked to controlling your emotions. Its impossible to master one without the other. You should be okay risking a small percentage of your trading account. Essentially, win or lose you're collecting data about your trading system. Which will ensure you continue to adapt and improve on your trading journey. If you can't stomach the loss of a trade setup being invalid, then you're probably over positioned and taking too much risk. With that said, lets go through various emotional states that you might find yourself battling with. ## The Imaginoor Living in a fantasy world where you keep imagining your lifestyle if your account balance was **X**. This can lead to chasing that target in a bad way, especially when the goal is close. For example, if you're aiming to reach 7 figures and you already have a plan for what you will do with that money. ![](https://dexplain.com/content/images/2023/02/imginoor-1.PNG) The imaginoor is much like the bloomer. When you're in the high 6 figures, on the final stretch, the push to get to your goal quickly will be stronger. You might start dreaming about all the lifestyle benefits you will have when you reach that goal. This can lead to over-risking and blowing up a significant portion of your account. There is a popular saying of don't trade your PNL, I think that applies here. ## The Doomer The direct opposite of the imaginoor, here you enter a perpetual state of thinking the worst outcome, the ultimate catastrophe. Perhaps you've been on a losing streak and lost faith in your ability to read charts. You may find yourself over-positioning the trade, going all in on a position. ![](https://dexplain.com/content/images/2023/02/the-doomer-1.PNG) *"GUYS BLACK SWAN EVENT TOMORROW!"* Why? Because nobody is going to make it, black swan is around the corner, so fuck it! Again the result is over-risking and blowing up your account. But don't you need conviction when entering a position? Yes, but the conviction should come from your analysis and not from desperation: *Its all rigged who cares, x100 leverage!* 💡 Sign up to Bybit with [my referral link](https://www.bybit.com/en-US/invite?ref=M2YNXG) for exclusive referral rewards and up to a 5,030 USDT welcome gift. And you will be supporting the site! ## The Addict Cryptocurrency markets are open 24/7 and never close. This is a blessing and curse in itself. It means we have opportunities at any time of the day, but it also means we can fall prey of market obsession. There is always something to research or think about: volatility, volume, the fed's next meeting, what does Powell mean, China is banning Bitcoin again, Koreans are listing something, Elon said woof woof... ![](https://dexplain.com/content/images/2023/02/addictoor.PNG) Zoomer or Addict? It makes it extremely hard to unplug. You may have a feeling of: if i am not in a trade I am missing out. Which is a feeling that cloud's your judgement into making bad trades. Trades that don't even make sense for your strategy or thesis. Here the risk becomes over-trading, when the answer was staying patient. Sometimes the best way to make money is stay flat, sit on your hands, and let the trades come to you. ## The Tweeter Social media can be a very dangerous place for a crypto trader. Because it will play games with your conviction. If you have entered a trade following your strategy, only to find people disagree with the setup then you will lose conviction. ![](https://dexplain.com/content/images/2023/02/tweettweet.PNG) Don't trade to tweet! This can lead to you closing trades before target or not even opening them in the first place. Consequently, you will not be following your plans. If you know that your strategy is profitable, why shouldn't you follow your plan? Not every trader needs a market sentiment check from other participants. There isn't really a solid answer here, its something you will need to figure out on your own time. Perhaps you will be more profitable with a strict social media blackout, or perhaps not. ## So what to do? The bottomline is there is a relationship between our thoughts, our feelings, and our actions. It's silly to think there would not be, recognize it. Hell it is one of the main reasons why there is a whole legion of market participants that code algo trading bots. ![](https://dexplain.com/content/images/2023/02/stay-zen-stay-chad.png) Stay zen, stay chad. When you see the price of BTC plummeted overnight, you may not be able to control your first thought. However, it is possible to control how we respond to that thought. ### Risk Management aka Surviving the Trading Marathon URL: https://dexplain.com/risk-management-surviving-the-trading-marathon/ Last updated: 2022-09-06T16:30:26.000Z Hello there, ah it seems you've opened that door of leverage trading Bitcoin. Well, you can't close it now, the allure is too overpowering. Perhaps, you caught a perfect x20 long on the sweet nectar of an illiquid altcoin and saw your PNL print. Your portfolio did a 2x overnight. Of course, the next day, you roundtripped an oversized trade. Woke up to a liquidation email. Sound familiar? ![](https://dexplain.com/content/images/2022/08/pepe-boom.jpg) ser pls mi familia Don't lie you've probably blown up an account or two before you ended up here. But that's okay, we've all been there. The important thing on your trading journey is not to repeat the same mistakes. Keep a trade journal, identify mistakes, and eliminate them. If you're making the same errors on repeat, then leverage trading may not be for you - simple as. And there is no shame in that, just have to admit it. Here we're going to look at some basics of position sizing and leverage for crypto trading. > *Capital preservation first, capital growth second*. Don't be too eager to *make money*, yes you may have been brought to crypto because of the volatility found in this asset class. You may have created your [exchange account](https://dexplain.com/crypto-exchanges-where-to-sign-up/) because your friend told you about his/her crazy gains. But there is no taking advantage of volatility if you destroy your portfolio on day 1. [![](https://dexplain.com/content/images/2022/08/bybit-mid-banner-5.png)](https://www.bybit.com/en-US/invite/?ref=M2YNXG) $20 welcome bonus just for signing up! Essentially, if you do not have any gunpowder then you can't participate so there will be no life-changing gains. That is why trading is a marathon, you don't even need to be first - you just need to be running in the race (Survive!). ## Printing Every Day? Lots of new traders seem to think they *will/should* be making thousands per day. This type of thinking will quickly destroy your account. If you think only about your PNL then you won't develop as a trader. You will end up taking bad trades simply because there are **$$$** signs in your eyes. And I repeat once more: **surviving is the key to winning in the trading world**. The main reason why? There is always another trade. By respecting your risk management strategy, you will be there to capitalize on them. ![](https://dexplain.com/content/images/2022/08/kung-fu-pepe.jpg) It's a discipline. More akin to a martial art. If you want to get ahead you need to put in the hours, every single day. You have to follow and respect your system, otherwise, you're better off going to gamble in a casino. Going all-in oversized on a leveraged trade simply because *more money bro* is how you give your money straight to CZ or SBF. ## So what is risk management? Investment decisions are always going to be uncertain. What we know for certain is price goes up or price goes down. The reason we use risk management is that if we get it wrong: **we can make another trade**. I am never *all in* on a position, and rarely ever get stopped out (more on that later). For a smaller portfolio, it will be a challenge to stay cautious and be risk averse. Don't get me wrong, I understand the allure of one life-changing trade is strong. But the bottom line is you will be more profitable over the long term by risking small amounts of your portfolio. While making a 30% return on one trade may send you into leaps of joy. Equally a trade that sends your portfolio into a 30% drawdown will probably give your decision-making an emotional jolt. ## Appetite for risk First up you will need to decide how much you're willing to lose per trade. I can't decide for you, everyone has a different appetite for risk. From experience, most traders set this between 1 to 3% per trade. Essentially, this means that if the price moves to my hard stop (invalidation for my trade) then the maximum I can lose is 1% of my capital. This is what works best for me, but it might not fit your trading style. ![](https://dexplain.com/content/images/2022/09/risk-appetite.jpg) Also with experience, you will gain higher conviction on certain trade setups. And this is where you might be comfortable increasing your risk. Another tip is having rules for different types of trades, perhaps on a scalp you risk 1% but for a swing it's 2%. One rule I recommend implementing into your system is a maximum loss per day. This will save you from doing something stupid such as emotional or revenge trading: *I will make it all back this trade*. For example, you could set your maximum loss for the day at 4%. Meaning if you lose more than that then you have to have a night's sleep before trading again. ## Position Size? Here we're going to do a basic calculation for position sizing. First up before entering a trade, you should know where you're going to place your stop. If you don't have an invalidation level for your trade, then you can't correctly calculate your position size. And if you don't have an invalidation level, then you're not trading you're straight up gambling. - Account size: $20,000 - Risk: 1% - Risk Amount: 1% of $20,000 = $20,000 x 0.01 = $200 - Entry price: 1534.45 - Stop: 1501.30 - Invalidation point (distance to stop): a decrease of $33.15 so roughly a 2.16% decrease. **What is my position size**? Position Size = Risk Amount/Invalidation point = $200 / $33.15 = 6.033 so your position size would be 6 ETH. If you prefer to work in USD then you need to divide by the percentage, $200 / 0.0216 = $9259. ![](https://dexplain.com/content/images/2022/09/long-or-short.PNG) ![](https://dexplain.com/content/images/2022/09/use-the-position-sizer-1.PNG) ![](https://dexplain.com/content/images/2022/09/position-sizer.PNG) You can also use the long or short tool in trading view. And if you're terrible at math or setting up a google sheets, simply use the long or short tool in Tradingview to calculate your position size automatically. Remember to set up the risk % and account size in the settings section. ## You don't HAVE to be full sized Now you know how to calculate your position size correctly. Another way traders manage their risk is by **adapting their position size** to the trade or market conditions. What does that mean? For example, maybe you've planned a swing BTC short at 30k but notice momentum slowing down heavily at 28k with nasty rejections on the lower timeframe. In that case, you could start to scale into your position. If the price does continue upwards you can either: A) cut the position with a small loss to enter higher or B) add size to the position. Or maybe BTC looks like it's going to pump big but American equities don't look so good, so you want to minimize risk in case of a correlation dump. The bottom line is if you're feeling nervous in a trade it's most likely because you're oversized. And therefore, it's a bad trade. ![](https://dexplain.com/content/images/2022/09/maxresdefault.jpg) Other reasons could be: scalping meme coins, wanting to sleep easy, this altcoin has terrible liquidity, or maybe you went AFK and missed the perfect entry. Just food for thought, turn it into your own rules. What I am getting at is **be ready to adapt** while sticking to your risk management strategy. ## Leverage has nothing to do with position size I put that in big font, so be sure to re-read it a few times. Checking the comments on popular crypto trader accounts, or streams, I see the same question over and over again. *What leverage are you using?* **Yet leverage has nothing to do with position size**. Leverage dictates how much margin you need to provide to open the position. It doesn't change the calculation for position size in any way. Note how Tradingview doesn't ask you about leverage when you use their long or short tool. ![](https://dexplain.com/content/images/2022/09/leverage-1.jpg) Asking what leverage another trader uses is a pointless question, they may trade a completely different style than yourself. High leverage is mostly used for marketing purposes from exchanges. ## Don't get stopped By this I mean: actively managing your position. Especially if your trade is planned as a scalp or an intraday swing. Things can change market conditions quickly in crypto: equities might sell off and cause a small nuke. Or a project might get hacked and mess up you're technical analysis completely. So if you're full sized in the trade and the price is getting away from you, then what is the point of holding to max invalidation? You might see clear signs on the lower timeframes that you've got it wrong. So escape and live another day! Manually cutting trades before stops is perfectly normal. You **can always re-enter the trade lower down**, or if it does bounce and reclaim key levels from your analysis. ## Conclusion Let me say that traders have different risk strategies, they adapt them to what works for them. And that is fine! Maybe you have a much greater appetite for risk. Maybe you like to scale into positions slowly with wide invalidation. ![](https://dexplain.com/content/images/2022/09/pepe-notes-1.png) take notes my friends! Maybe you like to smash market buy and cut immediately if you don't get the breakout. There is **no one risk strategy to rule them all*,* the important part is having one in place and sticking to it. As I've said earlier the key to being profitable long-term is staying in the crypto trading marathon, that's what risk management gives you. Hopefully, this article has set you on the correct path for forming your own trading & risk rules. If you have any queries or want to share your own practices come chat in my [discord](https://discord.com/invite/SMgDzbFaqd?ref=dexplain.com). ### ### Hero Sandwich URL: https://dexplain.com/hero-sandwich/ Last updated: 2022-02-01T14:03:32.000Z A tricky spot here with Bitcoin sandwiched tightly between resistance and support. Perhaps it's a Hero Sandwich given volume only appears during the New York session. [![](https://dexplain.com/content/images/2022/02/btc-analysis.png)](https://www.tradingview.com/x/0oHBvpa5/?ref=dexplain.com) So its a bit problematic to get positioned here: - We may continue the squeeze of late bears and push up. - A pullback into Monday's Mid area is also on the table, to hunt stops of late longs. It is a good region to look for an entry, though you would want to see 37.5k hold or be reclaimed quickly. - Can't rule out that we've already seen our local top either, we may just breakdown from here. **Too cautious?** TradFi markets performed well yesterday and pushed up. Now we're entering the trouble areas. We may dump immediately on NY open, or potentially push a little higher before a heavy rejection. If the bears are in control, we will see prices start to rollover soon enough. [![](https://dexplain.com/content/images/2022/02/SPX-analysis.png)](https://www.tradingview.com/x/zmYrCszx/?ref=dexplain.com) Currently, we're still under the 200EMA/MA & 300MA on the 4H timeframe, something the SPX has not done since May 2020 (after the covid crash). So until we get above those levels there is no reason to get overly bullish. > Nothing better than waking up, watching people tweet "omg $39k [$BTC](https://twitter.com/search?q=%24BTC&src=ctag&ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) is back!" only for it to fully re-trace in 5 minutes. > > GM [pic.twitter.com/3pniBUwWDb](https://t.co/3pniBUwWDb?ref=dexplain.com) > > — Charlie (@btc\_charlie) [February 1, 2022](https://twitter.com/btc%5Fcharlie/status/1488444538209378304?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) Do not get caught up in the euphoria of a bear market rally, the price moves up swiftly... and then forms new lows. Overall, I recommend marking out areas where you will be looking to enter fresh short positions. [![](https://dexplain.com/content/images/2022/02/mi-familia-mi-beras-mi-solana-1.png)](https://www.tradingview.com/x/NEIWfHUL/?ref=dexplain.com) Here is an idea for Solana, if we deviate last week's high then you could step in. Even safer once the price is under Monday's high. Or if we continue to push up today, then the 4H supply around $120 will probably cap the move up. --- ## Also Take Note - **Sifu**: One of the [leaders of Wonderland protocol](https://twitter.com/rekthq/status/1487095305241776131?s=21&ref=dexplain.com) that turned out to be a known criminal, has started to [move ETH through Tornado Cash](https://twitter.com/DegenSpartan/status/1488446124847677442?ref=dexplain.com)... well that can't be good. *Funds are sifu*? - **Microstrategy**: Michael Saylor is still permanently bullish and [bought the dip again](https://twitter.com/saylor/status/1488498422495817728?ref=dexplain.com). - **Thailand**: Announced it would [no longer be looking to tax crypto](https://www.newstrail.com/thailand-scraps-plans-to-tax-bitcoin-crypto-transactions/?ref=dexplain.com), meanwhile, India said it would [levy a 30% tax](https://www.coindesk.com/policy/2022/02/01/india-to-levy-30-tax-on-crypto-income-cbdc-launch-in-2022-23/?ref=dexplain.com) on any income from virtual digital assets. - **OpenSea**: Seems to be increasingly in the hot seat [as it now admits a large amount of the listed NFTs](https://www.dpreview.com/news/5284763122/opensea-admits-at-least-80-percent-of-nfts-hosted-on-its-platform-are-plagiarized-or-knock-offs?ref=dexplain.com) are plagiarized or knock-offs. That being said they've finally launched [a support account](https://twitter.com/opensea%5Fsupport/status/1487113608643637249?ref=dexplain.com) to combat scammers. And Solana integration will be live soon enough! - **Cool Cats**: Announced that holders can [now claim their Cool Pets](https://twitter.com/coolcatsnft/status/1488292628621758464?ref=dexplain.com). These are eggs that will hatch and evolve depending on user interaction. Very cool! Judging from [the traded volume](https://opensea.io/collection/coolpetsnft?ref=dexplain.com), these are going to be well sought after. --- ## Artist Spotlight Recommend checking out the Immortals drop on MakersPlace by the digital artist Pascal Blanché, the artwork looks incredibly. The drop is scheduled for tomorrow, so you can still sign up. Gives me vibes of a mashup between dystopian Mad Max and Mandalorians from Star Wars. [![](https://dexplain.com/content/images/2022/02/immortals-1.PNG)](https://twitter.com/pascalblanche/status/1488238151709646851?ref=dexplain.com) - Artist: [Pascal Blanché](https://twitter.com/pascalblanche?ref=dexplain.com). - Artwork: [Immortals](https://makersplace.com/pascalblanche/drops/immortals/?ref=dexplain.com). ### Don't Fade The Feds URL: https://dexplain.com/dont-fade-the-feds/ Last updated: 2026-07-15T11:42:01.000Z Hello hello! Yes, it has been a while since we last spoke. I did publish [some thoughts](https://dexplain.com/dont-sugarcoat-it/) on the market last week but have since realized my mail sender failed. So check that post if you're interested in where I've been. Otherwise, ever onwards! Bitcoin sold off into the weekly demand area and finally caught a bid. Late bears were caught offside with a glorious squeeze. Despite the nice reaction, there was zero follow through. Today volume has dropped significantly, it is worryingly low. Bigger participants must all have their eyes on the FOMC meeting tomorrow. And so should you, Powell's decision tomorrow will influence all markets. If you're lost, check the below thread about the situation which sums it up well. > Tomorrow’s Federal Reserve meeting might be the single most critical event in determining the future of the economy. > > Here’s a breakdown of why it’s so important (and why you should care): > > — Tarek Mansour (@mansourtarek\_) [January 24, 2022](https://twitter.com/mansourtarek%5F/status/1485677727491534851?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) The quick summary is: **don't fade the feds**. Hence the title of today's newsletter. Okay, what about Bitcoin? [![](https://dexplain.com/content/images/2022/01/bitcoin-analysis-1.png)](https://www.tradingview.com/x/32H3KmLU/?ref=dexplain.com) I've been waiting for the BTC to push up into the Daily supply region, but it doesn't feel like we have the juice to get there. So be on the lookout for a sweep of Monday's high into the hourly supply block. Any rejection and it's a clear invitation to get short. No lofty targets, will aim for Monday's low and derisk along the way. Because there is no reason for getting mega bearish at weekly demand levels. [![](https://dexplain.com/content/images/2022/01/bitcoin-bounce-areas.png)](https://www.tradingview.com/x/HI7CyXo9/?ref=dexplain.com) Bounce areas? Price could very well bounce at 34k or 32k after filling the CME gap. Technically, nuking through these levels without taking out some topside liquidity first doesn't fit. But legacy market doom might just laugh at any technical analysis. **So the bottom is in**? No. This downtrend is strong, bears are in control. I see the price going lower even if we get a positive reaction to the fed's meeting. Ultimately, I want to see the capitulation candle before trying to call it a bottom. The money printer has stopped, nothing more to do than be patient. > Armed with fiat dry powder, I stand ready for the capitulation candle. I’ve been trading these markets long enough to spot the last-gasp, puke-out candle that breaks the soul of the speculative bulls. That's what Arthur Hayes [wrote on 7th January](https://cryptohayes.medium.com/maelstrom-ee6021e9d0c2?ref=dexplain.com), and that's what we're waiting for. --- ## Also Take Note - **Equities Markets**: The increased volatility in [Nasdaq and S&P seen yesterday](https://twitter.com/donnelly%5Fbrent/status/1485731200350277639?ref=dexplain.com) are being classed as bearish by [various TradFi analysts](https://twitter.com/biancoresearch/status/1485719269564461062?ref=dexplain.com). Boomers will continue to sell? - **Elon Musk**: Back at it again, today [he asked McDonalds to accept DOGE](https://twitter.com/elonmusk/status/1485953263040188416?ref=dexplain.com) and in return, he would eat a happy meal live on TV. Of course, DOGE pumped 10%. Ignore it! - **Pika Protocol**: Live on [Optimism rollup](https://twitter.com/PikaProtocol/status/1485833251025715201?ref=dexplain.com), users can trade various assets with up to 50 leverage on a decentralized exchange. Pretty much a competitor to dYdX. PIKA token is [announced](https://pikaprotocol.gitbook.io/pika-protocol/pika-token?ref=dexplain.com), a potential future airdrop? - **Netflix**: Might be preparing a jump into the Metaverse? Seem to be researching NFTs [from this tweet](https://twitter.com/NetflixEng/status/1484583571071275011?ref=dexplain.com). - **Moonbeam**: Starting to see various high yield farming protocols setting up on this network. A new ecosystem to explore early? Check [StellaSwap](https://app.stellaswap.com/?ref=dexplain.com) or [Beamswap](https://app.beamswap.io/?ref=dexplain.com). --- ## Artist Spotlight This piece Mindloss by Brockhofer jumped out at me because the expression sums up perfectly how it feels when you try to trade this chop. Haha! [![](https://dexplain.com/content/images/2022/01/mindloss.PNG)](https://twitter.com/brockhofer/status/1485958127786901505?ref=dexplain.com) - Artwork: [Mindloss](https://superrare.com/0xacc6875f8264865985ed7ab6f08a0dc84af6be84/mindloss-2?ref=dexplain.com). - Artist: [Brockhofer](https://twitter.com/brockhofer?ref=dexplain.com). ### Don't Sugarcoat It URL: https://dexplain.com/dont-sugarcoat-it/ Last updated: 2022-01-21T18:25:37.000Z Bitcoin printed a lower-lower on the weekly timeframe, breaking market structure. If you've still been wearing your bullish sunglasses, well it's probably time to take them off. After all, it's winter. [![](https://dexplain.com/content/images/2022/01/btc-weekly-chart.png)](https://www.tradingview.com/x/fEAyY5kR/?ref=dexplain.com) I don't think we will see a strong reaction until the 35-30k region where we have 2W demand. And that may just be a bounce that you look to fade given the stock markets are in freefall. [![](https://dexplain.com/content/images/2022/01/s-and-p.png)](https://www.tradingview.com/x/vNQ0Qton/?ref=dexplain.com) What if? Not that I'm expecting BTC to just roll over immediately, we're seeing some signs of seller exhaustion and possibly a green weekend. There will be rapid rallies to the upside due to short squeezes aka *Sucker rallies -* these are generally short-lived. We could very well range between 37k-43k for some time, before making a dive lower. Perhaps something like this? ![](https://dexplain.com/content/images/2022/01/idea.png) Altcoins? Well, many of the popular alts have never even seen a bear market before, if BTC finds acceptance under 40k, then they will get absolutely smashed. --- **Where have you been?** And as you can see the newsletter hiatus is over. It was pretty much a burnout of trading and covering news. Going to get back to sending out regular market thoughts. Along with any DeFi & Metaverse project updates that I find interesting. And highlighting artists! However, it will be a weekly newsletter from now on though will be in [our discord server](https://discord.com/invite/SMgDzbFaqd?ref=dexplain.com) on the daily. Also, expect more content around using DeFi platforms and trading strategies. [Yield Farming on Solana: Where to start with SOL and DeFi?How to start yield farming with DeFi platforms on Solana, tips and tricks for maximizing your SOL portfolio. Guide to moving funds into Solana ecosystem via Binance and FTX.![](https://dexplain.com/favicon.png)Decentralized Explained | dExplainmf\_reason![](https://dexplain.com/content/images/2021/12/introduction-to-yield-farming-and-defi-on-solana.png)](https://dexplain.com/yield-farming-on-solana-where-to-start-with-sol-and-defi/) Vision for 2022 is turning dExplain into a community where we can all share alpha together - hope to see you there! --- ## Also Take Note - **Twitter**: Added [NFT verification](https://twitter.com/twitterblue/status/1484226494708662273?ref=dexplain.com) to profile pictures. Adoption! Or a cash grab by twitter? You do have to pay $3 per month to set this up... effectively a self dox of your wallet address. - **Vitalik**: Appeared on the UpOnly podcast, recommend you give the [episode a watch](https://www.youtube.com/watch?v=2J9ex32-pCI&ref=dexplain.com). Along with the recent DeFi focused [episode with Tetranode](https://www.youtube.com/watch?v=gDhywT14xpE&ref=dexplain.com). - **Keeper Network**: Interesting [thread about KP3R token](https://twitter.com/kamikaz%5Feth/status/1480692824790413313?ref=dexplain.com) being a good way to capitalize on Andre's upcoming Fantom project, which will not have a token to ape into. - **The Curve Wars**: Still trying to wrap your head around CRV vs CVX, and how OHM, BTRLY, and the redacted cartel play into this? Don't worry, me too. Let's start [here](https://incentivized.substack.com/p/what-the-is-redacted?ref=dexplain.com). - **Cobie**: Lately he's been sharing a lot of alpha around the state of [VC money inflow](https://threadreaderapp.com/thread/1483451870152638476.html?ref=dexplain.com), how to play the [capital rotation](https://cobie.substack.com/p/trading-the-metagame?ref=dexplain.com) game, and thoughts on how [a bear market future plays out](https://threadreaderapp.com/thread/1469253171885318146.html?ref=dexplain.com). Recommend reading through all these linked threads! --- ## Artist Spotlight Going to continue highlighting digital art that catches my eye. Feel the focus in NFTs has been too much about PFP collections and not enough about talented artists producing one-piece art. [![](https://dexplain.com/content/images/2022/01/high-rise-1.PNG)](https://twitter.com/seerlight/status/1483167330670563328?ref=dexplain.com) - **Artwork**: [High-Rise](https://superrare.com/0xb7245b453bc4ace419d64e7cebf65c4eec2dbd1b/high-rise-1?ref=dexplain.com). - **Artist**: [Seerlight](https://twitter.com/seerlight?ref=dexplain.com). ### What is Orca? Learn how to Double dip your DeFi Rewards URL: https://dexplain.com/what-is-orca-learn-how-to-double-dip-your-defi-rewards/ Last updated: 2022-11-14T22:08:07.000Z [Orca](https://www.orca.so/?ref=dexplain.com) is a fast-growing [decentralized exchange](https://dexplain.com/tag/decentralized-exchange) on the [Solana](https://dexplain.com/tag/solana) blockchain. Orca aims to be one of the easiest platforms for users to exchange crypto on Solana. This is why their main slogan is *The DEX for people, not programs -* perhaps a dig at their direct competitor [Raydium](https://dexplain.com/tag/raydium) which is notorious for being overloaded by bots. Below we will take a quick look at how Orca works, and more importantly, how you can start providing liquidity to earn rewards. ## What is Orca? It's an automated market maker (AMM) inspired by the success of [Uniswap](https://dexplain.com/tag/uniswap) or [Sushiswap](https://dexplain.com/tag/sushiswap) on Ethereum. The biggest difference is Orca leverages the fast transaction times and low gas fees of Solana to power token trades quicker and cheaper for users. And much like every other AMM, users can pool liquidity to earn trading fees along with additional rewards. This is a process known as [yield farming](https://dexplain.com/tag/yield-farming). If you've ever swapped tokens then Orca should feel very familiar, there are a couple of subtle differences with an aim of making user onboarding easier. Such as the type box where you can just type out what you need to trade. ![](https://dexplain.com/content/images/2021/12/type-box-orca.PNG) Additionally, there are much fewer steps to earning rewards on Orca with no need to stake LP tokens (unless you want to double-dip). Furthermore, one of the key features is a built-in price comparison with CoinGecko. This way users can know immediately if the rate for the swap is a fair price. Lastly, you can earn some marine-themed collectibles ([non-fungible tokens](https://dexplain.com/tag/non-fungible-tokens)) just for using the DEX. ## How to provide liquidity? Users can provide liquidity to trading pools to earn a percentage of the trading fees. Various pools are also eligible to earn additional awards in ORCA tokens. These pools are referred to as **Aquafarms** on the platform. One thing to note when providing liquidity to Orca is that you do not create an LP-token, meaning you cannot transfer your liquidity position to a different wallet. Essentially, all deposited funds are tied to your wallet until you withdraw. If you've never used any Solana DeFi, recommend reading through our introduction guide first where you will learn how to set up your Sollet or Phantom wallet. [Yield Farming on Solana: Where to start with SOL and DeFi?How to start yield farming with DeFi platforms on Solana, tips and tricks for maximizing your SOL portfolio.![](https://dexplain.com/content/images/size/w256h256/2021/12/dexplain-brain-2-1.png)Decentralized Explained | dExplainmf\_reason![](https://dexplain.com/content/images/2021/12/introduction-to-yield-farming-and-defi-on-solana.png)](https://dexplain.com/yield-farming-on-solana-where-to-start-with-sol-and-defi/) Open the **Pools** tab from the top of the screen, if you have not done so already click **Connect** to authorize your wallet. You can find the All Pools tab on the left, which will display all the available liquidity pools. ![](https://dexplain.com/content/images/2022/01/Orca.PNG) Use the **Deposit** button to open the box where you can decide how many tokens to pool. Orca will also display your estimated earnings over the next 7 days for the amount deposited. Once you confirm that you understand there are risks involved. Which to summarize, states there is no guarantee of making a profit. Then you will be able to click the **Deposit** button. ![](https://dexplain.com/content/images/2022/01/deposit.PNG) It will prompt a pop-up from your wallet, which you will need to **Approve** to confirm the transaction. You can now find your deposit under the Your Liquidity tab. ![](https://dexplain.com/content/images/2022/01/Your-Liquidity.PNG) And if you ever need to remove it, just click **Withdraw** and follow the steps in reverse. ## How to double dip for dual rewards? Certain pools on Orca also offer you additional rewards which are separate from the platform. These are rewards provided by the token's team themselves, for example, you can pool COPE-USDC to also earn rewards in COPE. So its dual rewards as you will earn ORCA and COPE. ![](https://dexplain.com/content/images/2022/01/double-dip.PNG) However, unlike the Aquafarms, these pools do not start farming rewards automatically. You need to complete an additional transaction to stake your LP position. Do this by clicking the **Double-dip** button for your desired pool and approve the transaction with your wallet. ![](https://dexplain.com/content/images/2022/01/harvest.PNG) Once confirmed, you will see there is a Harvest button to claim your rewards. If you need to withdraw this liquidity, you first need to **Undip** it. Then you will be able to withdraw your funds from the pool. ## What is ORCA token? As discussed above the AquaFarms provide rewards in ORCA tokens. Under the **Your Liquidity** tab, you can track how much ORCA per day you're earning. And use the **Harvest All** button to claim them. ![](https://dexplain.com/content/images/2022/01/harvest-all.PNG) ORCA is the platform's native governance token, mainly to govern the uses of the **Orca Treasury**. For every swap made on the platform, fees are broken down as following: - 0.25% → Liquidity Providers. - 0.04% → Orca Treasury. - 0.01% → Impact Fund. In the future, token holders will have voting power to decide how to use the funds in the treasury. Such as decisions to develop new features, execute market buy backs of ORCA, or to increase the rewards for certain markets. Additionally, there is the **Impact Fund** which will be used to combat climate change. These funds are donated to real-world charities that aim to protect marine ecosystems and fight climate change - very cool! ### Token Details - The total supply of ORCA is 100 million. - View on [Solana Explorer](https://explorer.solana.com/address/orcaEKTdK7LKz57vaAYr9QeNsVEPfiu6QeMU1kektZE?ref=dexplain.com). - Issued 9th August 2021. Positively, the team initially launched the product without any token. The team feels that many DeFi platforms with yield farming products simply use their token as an attention grab. But then quickly disappear once their high rewards via emissions stop - not Orca! ![](https://dexplain.com/content/images/2022/01/image.png) Distribution was done retroactively via airdrop and allocations are 100% transparent. As a result, the airdrop rewarded loyal supporters and ensured decentralization from day 1\. If you want to learn more about the team's vision for ORCA token, be sure to read the following blog post: *[The ORCA Governance Token: True Value](https://medium.com/orca-exchange/the-orca-governance-token-true-value-36edc9fb4245?ref=dexplain.com).* [Crypto Exchanges: Where To Sign Up?Which cryptocurrency exchange should I use? List of best platforms for trading crypto on spot or futures: Bybit, Delta, Binance, and KuCoin.![](https://dexplain.com/content/images/size/w256h256/2021/12/dexplain-brain-2-1.png)Decentralized Explained | dExplainmf\_reason![](https://images.unsplash.com/photo-1640340434855-6084b1f4901c?crop=entropy&cs=tinysrgb&fit=max&fm=jpg&ixid=MnwxMTc3M3wwfDF8c2VhcmNofDUyfHxleGNoYW5nZXN8ZW58MHx8fHwxNjQyNjEyNTA2&ixlib=rb-1.2.1&q=80&w=2000)](https://dexplain.com/crypto-exchanges-where-to-sign-up/) And that wraps up our guide for using Orca, if you have any queries, [please hop in our discord](https://discord.com/invite/SMgDzbFaqd?ref=dexplain.com). Another way to increase your DeFi gains on Solana is through Tulip Protocol's leverage farming. Essentially, it enables you to borrow and leverage your liquidity position on Orca. That's what we will be looking at next, stay tuned! ### What is Raydium? Learn how to farm RAY token URL: https://dexplain.com/what-is-raydium-learn-how-to-farm-ray-token/ Last updated: 2021-12-13T16:39:50.000Z [Raydium](https://raydium.io/?ref=dexplain.com) is an automated market maker (AMM) built on the Solana blockchain, very similar to [SushiSwap](https://dexplain.com/tag/sushiswap) on Ethereum or [PancakeSwap](https://dexplain.com/farming-on-binance-smart-chain-with-pancakeswap/) on Binance Smart Chain. Here we will learn how to add liquidity(to earn trading fees) and stake in farms for earning yield in the native RAY token. Currently, this is the backbone of all DeFi strategies and yield farming on Solana. There are also additional opportunities via fusion pools, single RAY staking, and accessing pre-sales through RayAcceletor. - Be sure to read through our tutorial on [how to start DeFi and yield farming](https://dexplain.com/yield-farming-on-solana-where-to-start-with-sol-and-defi/) on Solana first! ## Why is Raydium different? One key difference that sets Raydium apart from its competitors, is that the protocol interacts with the central order book of the Serum decentralized exchange. As a result, Raydium allows access to the liquidity of the entire Serum/Solana ecosystem and is not just stuck to its pools. Additionally, the platform provides a DEX UI that enables advanced features such as limit orders and TradingView charts. Lastly, there is no need to worry about losing profits to high network fees as Solana network fees are a tiny fraction when compared to Ethereum. ## How to add liquidity? - Open up the “Pools” tab on the website, this will show you all the available liquidity pools. Click “Connect” in the upper right corner, this will connect your wallet. We recommend using Sollet or Phantom as it’s supported across the whole Solana ecosystem. ![](https://dexplain.com/content/images/2021/12/click-connect.PNG) - Select the pool and it will open the liquidity dashboard, you may need to select the correct tokens from the dropdown. We will add to the RAY-ETH pool, remember to add liquidity you have to provide both tokens at a 1:1 ratio according to their USD value. If you enter the amount on the first token, then the second token will adjust automatically. ![](https://dexplain.com/content/images/2021/12/Supply-raydium.PNG) - Click ‘Add Liquidity’, your wallet should open up **two transactions** that you will need to approve both of them. You may find the Sollet pop-up is hiding under your main window. Once confirmed, you will see your liquidity deposit appear on the dashboard. Also if you refresh your Sollet wallet you will see you now have an RLP token (Raydium Liquidity Provider). ![](https://dexplain.com/content/images/2021/12/your-liquidity-1.PNG) Easy! As a liquidity provider, you earn a proportional share of the trading fees that are generated by swaps going through your pool. ## How to farm RAY tokens? Additional yield can be earned by staking your LP tokens in RAY farms. - Navigate to the “Farms” tab, here you will find the official farms for mining RAY tokens. ![](https://dexplain.com/content/images/2021/12/farms.PNG) - If you’ve been following the guide then we just added liquidity to the RAY-ETH pool, so you can click on that one. Next click ‘Stake LP’, where you should see you have a balance. ![](https://dexplain.com/content/images/2021/12/stake-LP-token.PNG) - Select ‘Max’ to stake all of your balance, and then click ‘Confirm’, this will open up a transaction for you to approve in your wallet. ![](https://dexplain.com/content/images/2021/12/notification-stake.PNG) - Once confirmed, you will start to see RAY rewards pending. You can claim them at any time by using the “Harvest” button. ![](https://dexplain.com/content/images/2021/12/harvest-button.PNG) ## How to stake RAY? Now that you’re earning RAY, what can you do with them? An easy way to earn more RAY is via single-staking. Essentially, Raydium has a 0.25% trading fee on swaps, it breaks down into 0.22% going back into the LP pool and 0.03% goes to RAY staking. - Open up the ‘Staking’ tab and click on ‘Stake Ray’. Then all you need to do is set the amount and click ‘Confirm’, which will trigger your wallet to approve the transaction. ![](https://dexplain.com/content/images/2021/12/stake-RAY.PNG) Once your RAY is staking, you will see the balance of your staked tokens along with your pending rewards. Just like in the farms, you can use the ‘Harvest’ button to collect rewards. Staking RAY also gives you access to pre-sales which you will find in RayAcceletor. ### What is RayAcceletor? This is Raydium’s version of an IDO launchpad platform, what’s great is as long as you’re eligible to participate then an allocation is guaranteed. No need to complete any whitelisting mambo jumbo and pray that your wallet address will be picked. All you have to do is ensure you’ve been staking the required amount of RAY over the period, usually two weeks before the scheduled IDO date. So for example, the Mercurial Finance IDO for MER token had two pools available. One required at least 50 RAY being staked and the other 500, bear in mind you can participate in both pools if eligible for both. ![](https://dexplain.com/content/images/2021/12/MER-IDO.PNG) All you have to do is click on the pool and deposit your USDC. Once the IDO is complete, you come back to claim your tokens once available along with any unused USDC. Recommend following [Raydium on Twitter account](https://twitter.com/RaydiumProtocol?ref=dexplain.com) to see announcements about upcoming presales via RayAcceletor. ## What are fusion pools? Another way to earn using Raydium is by joining fusion pools, these are farms set up through partnerships with other projects. Some of these pools offer dual yield opportunities where you can earn RAY + another token, so they can be lucrative. ![](https://dexplain.com/content/images/2021/12/fusion-pols.PNG) To join these farms, you follow the same steps as outlined above. First, add liquidity to the pool in question such as COPE-USDC. ![](https://dexplain.com/content/images/2021/12/add-and-stake.PNG) Once you’ve added liquidity to the pool, then you need to come back to the fusion page to stake your COPE-USDC LP token. And harvesting rewards works the same way as with RAY farming. That wraps up our guide on using [Raydium](https://dexplain.com/tag/raydium), check out our overview of [yield farming opportunities on Solana](https://dexplain.com/yield-farming-on-solana-where-to-start-with-sol-and-defi/) to learn some more tips. ### Yield Farming on Solana: Where to Start with SOL and DeFi (2026 Update) URL: https://dexplain.com/yield-farming-on-solana-where-to-start-with-sol-and-defi/ Last updated: 2026-07-17T16:23:01.000Z Solana has grown from a promising smart-contract platform (see our [earlier Solana yield guide](https://dexplain.com/yield-farming-on-solana-where-to-start-with-sol-and-defi/)) into one of the most active DeFi and consumer-app ecosystems in crypto. Known for high throughput and low fees, it now hosts a mature landscape of decentralized exchanges, lending markets, and liquid staking. Here we will take a look at how yield farming on Solana works today, the main protocols to know, and how to get started safely. ## The State of Solana DeFi Solana's DeFi ecosystem looks very different from its early days. The network survived a brutal stretch — the 2022 bear market and the collapse of FTX, which was closely associated with Solana, hit the chain hard. However, it recovered strongly, driven by low fees, fast finality, and a wave of new users. As a result, total value locked and on-chain activity returned to prominence, and Solana became a hub for both DeFi and high-volume token trading. ## How to Get Started on Solana Before you start, you will need a Solana wallet. The most widely used options are [Phantom](https://phantom.app/?ref=dexplain.com) and [Solflare](https://solflare.com/?ref=dexplain.com), both available as browser extensions and mobile apps. Once you have a wallet, you can fund it with SOL, which pays for the network's very low transaction fees. You can buy SOL on most major centralized exchanges and withdraw it directly to your wallet. Alternatively, you can bridge assets from Ethereum or other chains using a cross-chain bridge. As a result, moving liquidity into the Solana ecosystem is straightforward. ## Main Yield Opportunities **Liquid staking:** The simplest yield on Solana is staking SOL. Liquid staking protocols such as Jito and Marinade let you stake SOL and receive a liquid token (like JitoSOL or mSOL) that keeps earning staking rewards while remaining usable across DeFi. As a result, you can earn a base yield and still deploy your capital elsewhere. **Decentralized exchanges:** [Raydium](https://dexplain.com/what-is-raydium-learn-how-to-farm-ray-token/) and [Orca](https://dexplain.com/what-is-orca-learn-how-to-double-dip-your-defi-rewards/) are the leading AMMs on Solana. You can provide liquidity to trading pairs and earn a share of swap fees. As with any liquidity provision, be aware of impermanent loss. **Lending markets:** Protocols like Kamino and MarginFi let you lend assets to earn interest or borrow against collateral. As a lender, you earn yield from borrowers; as a borrower, you can access leverage or liquidity without selling your holdings. ## Understanding the Risks Yield farming is never risk-free. Smart-contract bugs, protocol exploits, and token price volatility can all cause losses. Furthermore, advertised APYs often include token incentives that can fall quickly as more capital enters a pool. Always check whether a yield is real (from fees) or incentive-driven (from token emissions), and never farm with more than you can afford to lose. ## Looking to the Future Looking to the future, Solana continues to push on scalability and consumer adoption, and its DeFi protocols have matured well beyond the experimental phase of 2021\. As a result, it remains one of the most accessible chains for new DeFi users, thanks to its low fees and polished wallet experience. Always do your own research before depositing into any protocol. ### Deja Vu URL: https://dexplain.com/deja-vu/ Last updated: 2022-11-14T22:03:49.000Z Bitcoin is back to $50k and funding rates are getting high again… eh are we doing a full circle? Things have been looking very bullish across the board for BTC, defending its 4H trend above all 20&50 EMAs. ![](https://dexplain.com/content/images/2021/12/BTCUSDT_2021-08-23_14-44-12.webp) Would say funding rates are getting a little high again, a dump down to the weekly open (blue line) could give us a very nice long entry. Any major resistance at Monday’s High would then be a trigger to get out of that position. ### Where to trade? Here are my favourite crypto exchanges, use the referral link for atleast a 10% discount on your trading fees. - [Bybit](https://www.bybit.com/en-US/invite?ref=M2YNXG) \- Currently, this is my favourite platform! Great liquidity and bonuses for deposits. - [Delta Exchange](https://www.delta.exchange/app/signup/?code=VVRPEI&ref=dexplain.com) \- Good for a degen account, no KYC required but low liquidity. - [Binance](https://accounts.binance.com/en/register?ref=X8XUVA60) \- Lots and lots of spot altcoin pairs, especially BTC pairs. - [KuCoin](https://www.kucoin.com/ucenter/signup?rcode=r3D6E6L&ref=dexplain.com) \- Great for longer small cap holds. --- ## Crypto News - **Binance**: More regulatory concerns on the horizon? Despite the exchange now putting in place mandatory KYC for all accounts, governments are still publishing warnings [that the platform operates with licenses](https://decrypt.co/78844/dutch-central-bank-warns-binance-is-operating-without-license?ref=dexplain.com). - **PayPal**: Announced it will soon [allow UK users to buy, sell, and hold crypto](https://news.sky.com/story/paypal-to-let-uk-users-buy-hold-and-sell-cryptocurrencies-12388151?ref=dexplain.com). On launch, the service will be limited to Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. - **Google**: Rumours are now circulating that the big tech giant Google is [planning an entry into crypto, creating their own blockchain and token](https://www-fxstreet-com.cdn.ampproject.org/c/s/www.fxstreet.com/amp/cryptocurrencies/news/crypto-prediction-google-might-create-their-own-blockchain-and-crypto-202108221600?ref=dexplain.com). While it seems to all be predictions at this stage, apps such as Google Play having their currency does seem logical? - **Grayscale**: The massive crypto asset manager now has [over $10B worth of Ethereum under its management](https://coinnounce.com/grayscale-now-has-10-billion-worth-of-ethereum-under-its-management/?ref=dexplain.com). And don’t forget about its $30B worth of Bitcoin! --- ## DeFi News - **Cropper Finance**: The [permissionless yield farming platform](https://twitter.com/CropperFinance/status/1429661526852579335?ref=dexplain.com) that will enable teams to create liquidity programs for their community in just a couple of clicks, will launch on Solana in a couple of hours. Powered by its native CRP token. - **Avalanche**: Might be the next smart contract chain to see an explosion of DeFi platforms, as the foundation announced a [$180M DeFi incentive program](https://medium.com/avalancheavax/avalanche-foundation-announces-180m-defi-incentive-program-d320fdfafff7?ref=dexplain.com). - **Luna Yield**: And the rug pulls have arrived in Solana, with [the Luna Yield platform going dark and running off with $6.7M](https://decrypt.co/79098/solana-defi-protocol-luna-yield-goes-dark-with-6-7-million-in-crypto?ref=dexplain.com) in investor funds. Worryingly, the platform baited investors by going through the SolPad IDO platform, which means their due diligence is poor! - **Gelato**: Announced details for its [GEL token](https://medium.com/gelato-network/gel-token-sale-date-and-whitelist-opening-fc697c814662?ref=dexplain.com), along with sale details scheduled for September 13th, 2021\. The platform already has partners such as Aave, Polygon, and The Graph so expect this sale to receive a lot of attention. - **HyperJump**: Do check out the [UnRekt tool if you’ve been aping](https://twitter.com/HyperJumpBSC/status/1429594325667692551?ref=dexplain.com) into farms and staking pools on BSC or Fantom. UnRekt can revoke access from any approval you gave to malicious contracts. - **deBridge**: Announced[ a cross-chain and liquidity transfer protocol](https://twitter.com/deBridgeFinance/status/1428387360866250755?ref=dexplain.com) that will support Ethereum, Polygon, Heco, BSC, and Arbitrum. What’s very interesting is that the protocol also enables cross-chain composability of smart contracts. - **Skyrim**: An upcoming [multichain robo-advisor of DeFi platforms](https://twitter.com/SkyrimFinance/status/1429744201659416589?ref=dexplain.com), powered by SKYRIM token. Whitelisting for their token sale will open on August 27th, one to research! --- ## NFT Spotlight Be sure to check the listing to view the digital crypto artwork in its full glory, as some art is animated or contains audio. ![](https://dexplain.com/content/images/2021/12/dejavu.webp) **Deja Vu** - Where to bid? [MakersPlace](https://makersplace.com/caktux/deja-vu-1-of-1-68502/?ref=dexplain.com) or [Opensea](https://opensea.io/assets/0x2a46f2ffd99e19a89476e2f62270e0a35bbf0756/60691?ref=0x5cE9f7032953d8E3f3D98f508C1b9B489Ee621Db). - Artist: [Reema](https://twitter.com/visualldreams?ref=dexplain.com). --- ## NFT News - **Visa**: After years of blocking so many customer crypto transactions, it seems the days of being anti-cryptocurrency are firmly behind them. Visa announced they [now hold a CryptoPunk NFT](https://twitter.com/VisaNews/status/1429745230023208969?ref=dexplain.com). - **Pinkslip Finance**: This upcoming DeFi game will [combine NFTs with drag racing](https://pinkslip.finance/?ref=dexplain.com), and compete to earn a spot in the staking pool for passive income. Interesting, the native token is PSLIP, one to watch! - **Mountaintop:** Future metaverse game, early days but one to research? Just [announced they’ve raised $30M in a Series A](https://medium.com/mountaintop-studios/mountaintop-raises-30m-series-a-c5a9ac8e13b5?ref=dexplain.com) which included VCs like Spark Capital, Founders Fund, and Detroit Venture Partners. ### Swaying in the Breeze URL: https://dexplain.com/swaying-in-the-breeze/ Last updated: 2022-11-14T21:57:13.000Z And we’re back to teetering on the edge, don’t you just love crypto? ![](https://dexplain.com/content/images/2021/12/BTCUSDT_2021-08-18_15-21-14.webp) This is the trendline to watch for Bitcoin right now. A bullish scenario would be breaking through it, flipping Weekly Open into support, attacking Monday’s High, towards 51k. The bearish case is we reject, the Monday Low doesn’t hold as support and we break down towards the Monthly Open 41-42k. We also need to keep our eyes on traditional markets, which have been seeing market sell-offs along with rumors that the Feds are preparing [tapering of bond purchases in September](https://www.cnbc.com/2021/08/16/theres-growing-support-within-the-fed-to-announce-the-tapering-of-bond-purchases-in-september.html?ref=dexplain.com). Correlation between stock markets and crypto markets does exist, despite what perma-bulls might tell you! ### Where to trade? Here are my favourite crypto exchanges, use the referral link for atleast a 10% discount on your trading fees. - [Bybit](https://www.bybit.com/en-US/invite?ref=M2YNXG) \- Currently, this is my favourite platform! Great liquidity and bonuses for deposits. - [Delta Exchange](https://www.delta.exchange/app/signup/?code=VVRPEI&ref=dexplain.com) \- Good for a degen account, no KYC required but low liquidity. - [Binance](https://accounts.binance.com/en/register?ref=X8XUVA60) \- Lots and lots of spot altcoin pairs, especially BTC pairs. - [KuCoin](https://www.kucoin.com/ucenter/signup?rcode=r3D6E6L&ref=dexplain.com) \- Great for longer small cap holds. --- ## Crypto News - **Dogecoin**: Foundation is [back after being inactive for years](https://cryptopotato.com/dogecoin-foundation-rebooted-elon-musks-associate-and-vitalik-buterin-among-board-advisors/?ref=dexplain.com), notable names on the new advisory board are Elon Musk (though represented through his associate), and Ethereum co-founder Vitalik Buterin. - **Coinbase**: Seems nobody wants to work for the old firms anymore? London [reports associates](https://www.efinancialcareers.com/news/2021/08/coinbase-jobs-london?ref=dexplain.com) to keep leaving banks for jobs at cryptocurrency exchanges such as Coinbase. - **Spain**: Issued [a warning that numerous exchanges](https://www.coindesk.com/spain-warns-huobi-bybit?ref=dexplain.com) do not hold the correct licenses to operate in their jurisdictions, essentially saying that it’s not just Binance who’s been flaunting the rules. Includes major platforms such as Huobi or Bybit. - **China**: Continued on its [yearly anti-crypto mission and shutdown 11 companies](https://u.today/bank-of-china-shuts-down-11-crypto-trading-companies?ref=dexplain.com) working in the trading and financial industry, namely with digital assets. The People’s Bank of China reportedly has a list of 46 companies that it wishes to investigate over illegal financial services. - **Banks**: In perhaps the strongest argument for crypto adoption, we continue to see that the younger generation (GenZ and Millennials) is moving away from [traditional banking organizations in favor of fintech companies](https://www.financemagnates.com/thought-leadership/can-traditional-banks-hold-on-to-their-genz-and-millennial-customers/?ref=dexplain.com). Good! --- ## DeFi News - **Quickswap**: Launched limit orders [on Polygon powered by Gelato](https://quickswap-layer2.medium.com/quickswap-introduces-limit-orders-powered-by-gelato-d996c7d4cd52?ref=dexplain.com), a new feature that has been audited by Certik. Now users can create DeFi limit orders to trigger at their preferred price. - **1inch**: Announced the DEX aggregator and AMM is [now live on Optimistic Ethereum](https://twitter.com/1inch/status/1427647340018556948?ref=dexplain.com) (Layer2), users will see a huge increase in transaction speed. Also, note the release of [Optimistic Gateway](https://gateway.optimism.io/welcome?ref=dexplain.com) which is a bridge to move assets. - **ATLAS**: Released [the details of their upcoming IEO](https://medium.com/star-atlas/star-atlas-token-sale-details-revealed-857bf7505fdd?ref=dexplain.com), and IDO via Raydium. Believe this project’s token sale is going to see a lot of attention and allocations will be bought up fast! Don’t be late. - **Beta** **Finance**: Will [go live on mainnet today](https://twitter.com/beta%5Ffinance/status/1427631751778738185?ref=dexplain.com), a permissionless money market for short-selling, lending, borrowing, and more! Will feature many verified markets on launch for popular DeFi assets such as ALPHA, BAL, LINK, and USD stablecoins. The native token BETA will be distributed to ALPHA stakers over a 3 month period, so you can still join. - **MISO**: Nice writeup for [how Sushi was saved from being exploited](https://www.paradigm.xyz/2021/08/two-rights-might-make-a-wrong/?ref=dexplain.com) by a bug in the auction code, very cool to see how teams manage/react to a crisis. - **Serum**: SRM is [now listed on Huobi](https://twitter.com/huobiglobal/status/1427857793604734982?ref=dexplain.com), which should mean some fresh legs for the ongoing Solana Summer ecosystem rally. Nice! - **dYdX**: Published an overview of how [their liquidity staking pools for USDC work](https://dydx.foundation/blog/en/liquidity-staking-pool?ref=dexplain.com), this is a way for the DEX to attract liquidity and users can earn rewards in DYDX tokens. --- ## NFT Spotlight Be sure to check the listing to view the digital crypto artwork in its full glory, as some art is animated or contains audio. ![](https://dexplain.com/content/images/2021/12/ocean-breeze.webp) **Ocean Breeze** - Where to bid? [MakersPlace](https://makersplace.com/888/ocean-breeze-1-of-1-45710/?ref=dexplain.com) or [Opensea](https://opensea.io/assets/0x2a46f2ffd99e19a89476e2f62270e0a35bbf0756/40814?ref=0x5cE9f7032953d8E3f3D98f508C1b9B489Ee621Db). - Artist: [Rarezo](https://twitter.com/Crypt0Art?ref=dexplain.com). --- ## NFT News - **NFT Lottery**: Now anyone can create [a fair and on-chain RNG drop for NFTs](https://twitter.com/0xmons/status/1426247749624684545?ref=dexplain.com), this platform is powered by [Chainlink’s VRF](https://dexplain.com/understanding-chainlink-in-5-minutes/) for randomness. Very cool! - **Generative Masks**: Perhaps the next NFT to ape into? Check out these [masks by Takawo](https://twitter.com/takawo?ref=dexplain.com), what looks promising is the project plans to buy up land in the metaverse to use as art galleries. - **Pudgy Penguins**: Seems to be the project [that collectors are hyped about right now](https://twitter.com/dqniellew/status/1427269678456442882?ref=dexplain.com), traded over 16k ETH volume in the last week. One penguin saw a price rise of 5000x being sold for 150 ETH after a mint price of just 0.03 ETH, crazy! - **SuperRare**: Introduced RARE token, [the platform’s native governance token](https://twitter.com/SuperRare/status/1427661883008552962?ref=dexplain.com) that will power a revolution of NFT art curation. Definitely, a token to follow. ### Regulators Mount Up URL: https://dexplain.com/regulators-mount-up/ Last updated: 2022-11-14T21:52:39.000Z Good old options expiry day! After the expiry time (Friday 0800 UTC expiry) we did see a Bitcoin dump down to $38,300 and now the bulls are fighting to turn $38,500 into support. Looks like the bulls need to get the market back above $39k quickly if we want to see the upwards direction continue. But with a lot of concerns about regulation changes it’s hard to say if this weekend will be red or green – so be ready for anything. We have rumors circulating about [this proposed crypto/infrastructure bill](https://twitter.com/ODELL/status/1421076403576053760?ref=dexplain.com) that might cause panic selloffs. I’ve seen some people saying exchanges may block your withdrawals until it’s certain you’ve paid taxes… that seems a bit far-fetched logistically but if your plan is to hold long-term well having a hardware wallet for cold storage is a good plan --- ### Where to trade? Here are my favourite crypto exchanges, use the referral link for atleast a 10% discount on your trading fees. - [Bybit](https://www.bybit.com/en-US/invite?ref=M2YNXG) \- Currently, this is my favourite platform! Great liquidity and bonuses for deposits. - [Delta Exchange](https://www.delta.exchange/app/signup/?code=VVRPEI&ref=dexplain.com) \- Good for a degen account, no KYC required but low liquidity. - [Binance](https://accounts.binance.com/en/register?ref=X8XUVA60) \- Lots and lots of spot altcoin pairs, especially BTC pairs. - [KuCoin](https://www.kucoin.com/ucenter/signup?rcode=r3D6E6L&ref=dexplain.com) \- Great for longer small cap holds. --- And despite what crypto twitter might think, it’s not all doom and gloom around regulations, next week [German institutions can legally start stacking BTC](https://zycrypto.com/german-law-that-could-potentially-see-415-billion-flowing-into-cryptocurrencies-becomes-effective-next-monday/?ref=dexplain.com). So best to stick to your plan and close out all that emotional noise! Yesterday I dove into [Axies universe](https://dexplain.com/tag/axie-infinity) to better understand why AXS price continues to trend upwards. It’s a mix of clever game design giving players many different ways to earn, which all influence tokenomics. --- ## Crypto News - **Binance**: Is reducing access to [its derivatives products (futures) in Europe](https://twitter.com/binance/status/1421067563027603469?ref=dexplain.com), first up are people from Italy, Germany, and the Netherlands. And Malaysia has simply banned Binance completely, giving them [14 days to shut down their operations](https://cointelegraph.com/news/binance-banned-in-malaysia-given-14-days-notice-to-shut-down-operations?ref=dexplain.com). - **Blockfolio**: Is no longer! The portfolio app will now be known as FTX, looks like the plan is to promote this version of the App as an easy way to invest in cryptocurrency. - **Bitcoin**: This week we’ve [seen massive outflows from exchanges](https://cryptopotato.com/massive-outflows-see-bitcoin-exchange-balances-plummet-to-2018-levels/?ref=dexplain.com), to a point that their BTC balances have gone down to 2018 levels. Usually taken as a bullish sign it means coins moving into cold storage or DeFi products. Though other analysts point out it can just exchange doing wallet shuffles. - **Stablecoins**: A [new bill proposes that the US Treasury](https://beyer.house.gov/uploadedfiles/beyer%5F028%5Fxml.pdf?ref=dexplain.com) will have full authority when it comes to fiat stablecoins. And it also outlines that the Federal Reserve should issue its own digital dollar. --- ## DeFi News - **Francium**: Leveraged [yield farming is now available on Solana](https://twitter.com/Francium%5FDefi/status/1420434249711247362?ref=dexplain.com) via Francium’s platform. There are some APYs over 40,000% such as the SLRS-USDC pool, so go check it out! Be sure to understand the risks and manage your collateral to avoid liquidation. - **MANGO**: Finally we have [some details about MNGO token](https://token.mango.markets/?ref=dexplain.com) which will primarily govern Mango DAO and incentivize liquidity on the platform. The token sale is scheduled for August 10th, expecting a lot of attention for this sale, so don’t be late. - **DINOX**: Blockchain gaming seems to be exploding with Axie Infinity’s success, this [multiplayer metaverse game with a dinosaur theme](https://dinox.io/?ref=dexplain.com) looks prime to follow AXS success. The native token is DNX. - **Yearn**: Released a spiritual guide called [The Blue Pill](https://twitter.com/iearnfinance/status/1420772966200135685?ref=dexplain.com), to celebrate their first anniversary. An origins story that includes rare NFTs created by [ZemmNFT](https://twitter.com/Zemm%5FNFT?ref=dexplain.com) to be claimed by 13,500 most loyal supporters. In the future, the book will be freely available to all. - **Synthetix**: Trading synths are [now available on Ethereum L2](https://twitter.com/synthetix%5Fio/status/1420805874633822208?ref=dexplain.com) via Optimism and [Chainlink](https://dexplain.com/understanding-chainlink-in-5-minutes/). This is an initial launch phase so not all assets are available, users will be able to trade sUSD, sBTC, sETH, and sLINK. - **Curve Finance**: Added [a new EUR-based stablecoin pool](https://twitter.com/CurveFinance/status/1421070631068741636?ref=dexplain.com) using Euro-pegged Tether tokens (EURt). Great news for European-based DeFi users who always feel rugged when swapping USD to EUR before cashout. Should have [some CRV rewards in the future on this pool](https://dexplain.com/what-is-curve-finance-and-crv/) also. - **Anyswap**: Launched [support for OKExChain](https://twitter.com/AnyswapNetwork/status/1421053998333759492?ref=dexplain.com), meaning users now have a very friendly bridge to hop across any EVM network. Should mean we see some fresh DeFi protocols launching with potentially OKEx as backers/support? --- ## NFT Spotlight Be sure to check the listing to view the digital crypto artwork in its full glory, as some art is animated or contains audio. ![](https://dexplain.com/content/images/2021/12/mind-regulators.webp) **THE MIND REGULATOR** *The mind regulator exists to control thoughts. Since its inception, any thoughts that are classified as impure by the ABSOLUTE (the governing A.I. body), are eradicated using a precision brain wave technology…* - Where to bid? [MakersPlace](https://makersplace.com/thecoinman/the-mind-regulator-1-of-1-34750/?ref=dexplain.com) or [Opensea](https://opensea.io/assets/0x2a46f2ffd99e19a89476e2f62270e0a35bbf0756/31214?ref=0x5cE9f7032953d8E3f3D98f508C1b9B489Ee621Db). - Artist: [Vachemorte](https://twitter.com/vachemorte?ref=dexplain.com). --- ## NFT News - **Treeverse**: Don’t miss [this upcoming functional Metaverse](https://twitter.com/Loopifyyy/status/1420505058266034180?ref=dexplain.com), Treeverse Alpha Launch, NFT sale for founders plots are scheduled for 1st August. The platform aims to replace social media platforms such as Discord or Twitter and combine a gamifying experience powered by NFTs. - **Antimatter**: Announced [it will be using no](https://antimatterdefi.medium.com/announcing-non-fungible-finance-antimatter-nft-product-950482a3583?ref=dexplain.com)[n](https://antimatterdefi.medium.com/announcing-non-fungible-finance-antimatter-nft-product-950482a3583?ref=dexplain.com)[\-fungible tokens](https://antimatterdefi.medium.com/announcing-non-fungible-finance-antimatter-nft-product-950482a3583?ref=dexplain.com) tech for several products in the future, notably around creating decentralized index funds and liquidity lockers. A way back for MATTER token? - **Coca-Cola**: Will auction [a pack of four digital collectibles](https://cryptobriefing.com/coca-cola-first-nfts-ethereum-metaverse/?ref=dexplain.com) in the Ethereum metaverse to commemorate International Friendship Day. So the auction starts today and will end on August 2nd. Very cool! If it’s a success, we might see some more Coca-Cola NFTs in the future. ### How to Earn Money Playing Axie Infinity? (2026 Update) URL: https://dexplain.com/how-to-earn-money-playing-axie-infinity/ Last updated: 2026-07-17T16:23:04.000Z [Axie Infinity](https://axieinfinity.com/?ref=dexplain.com) is the blockchain game that defined the play-to-earn era — and then became the cautionary tale of it. Powered by its own Ethereum sidechain, [Ronin](https://roninchain.com/?ref=dexplain.com), Axie let players breed, battle, and trade NFT creatures called Axies while earning tokens. At its 2021 peak (see our [original Axie Infinity explainer](https://dexplain.com/what-is-axie-infinity-gaming-to-earn-money/)), it drew millions of daily players, many treating it as a full-time income. As a result, it became the most important case study in crypto gaming. However, the economics that made it famous also broke it. Here we will take a look at how earning on Axie Infinity actually works today, what changed, and whether there is still money to be made. ## What Happened to Axie Infinity? To understand earning on Axie today, you first need to understand what went wrong. The original model paid players in Smooth Love Potion (SLP), a token earned through gameplay. The problem was structural: SLP was minted endlessly by players earning it, but demand only came from new players buying in to breed Axies. As a result, once player growth slowed, SLP inflated into oblivion. The token fell more than 99% from its highs, and the "reliable income" that supported thousands of players in the Philippines, Venezuela, and beyond largely evaporated. Then came the security disaster. In March 2022, the Ronin bridge was hacked for roughly $625 million in one of the largest exploits in crypto history. The attack targeted the validator keys securing Ronin, and it forced Sky Mavis (the studio behind Axie) to rebuild trust from the ground up. Furthermore, it became a defining example of why bridge and validator security matter. ## How Earning on Axie Works Now Sky Mavis rebuilt the game around a "play-and-own" philosophy rather than pure play-to-earn. The idea is to make Axie fun first and rewarding second, so the economy is not propped up entirely by new-money inflows. There are still several ways to participate: **Axie Classic and Axie Origins:** Origins is the reworked, free-to-start version of the game. You can play without buying Axies upfront, lowering the barrier that once required a significant investment just to begin. **AXS staking:** AXS is the governance token of the ecosystem. Holders can stake AXS to earn rewards and vote on the direction of the game. As a lender of your tokens to the network's security and governance, you earn a yield rather than grinding gameplay. **Trading Axies and land NFTs:** The Axie and Lunacia land markets still exist on the Ronin-based Mavis Market. As with any NFT market, values are speculative and have fallen dramatically from 2021 levels. **SLP as a game resource:** SLP still exists, but Sky Mavis has repeatedly adjusted its emission to fight inflation. It now functions more as an in-game crafting resource than a wage. ## The Tokens: AXS and SLP The ecosystem runs on two tokens. AXS (Axie Infinity Shards) is the governance and staking token, with a capped supply and utility tied to the long-term health of the platform. SLP (Smooth Love Potion) is the uncapped in-game currency used for breeding. The key lesson for readers: a capped governance token and an uncapped reward token behave very differently, and the collapse of SLP shows what happens when a reward token has no supply ceiling and no independent demand. ## Looking to the Future: Is Axie Still Worth It? Axie Infinity is no longer a place to earn a living, and treating it as one is how many players got hurt. However, it remains the most significant experiment in blockchain gaming, and Sky Mavis continues to develop the [Ronin network](https://roninchain.com/?ref=dexplain.com) into a broader gaming chain hosting other titles. As a result, the more interesting opportunity today may be Ronin itself as gaming infrastructure, rather than Axie as an income source. If you want to play Axie, approach it as a game you enjoy that happens to have on-chain ownership — not as a job. As a result, you avoid the trap that defined its first era. Always do your own research, and never invest money you cannot afford to lose into game assets. *This article was updated in July 2026 to reflect the current state of Axie Infinity following the SLP token collapse, the Ronin bridge hack, and the shift to a play-and-own model.* ### Countdown URL: https://dexplain.com/countdown/ Last updated: 2022-11-14T21:56:09.000Z So when are we allowed to get perma-bullish again? Bitcoin’s range continues to tighten up, [just look at this pennant on the 1H](https://www.tradingview.com/x/NmZHGDOj/?ref=dexplain.com), while volatility and volume are averaging out. The market looks to be setting up an explosive movement. I still believe the point of control for the bulls to flip is \~35k, if it happens then I am leaning towards the price rocketing into 37-40k quite easily. However, if we test 30k again and it breaks, then expect to see a violent cascade downwards. Meanwhile, Ethereum core devs have set [a proposed block date for the London upgrade](https://twitter.com/bantg/status/1412443802577653762?ref=dexplain.com) to mainnet, this will contain EIP1559\. Looks like it will happen in early August around the 4th, set the calendars! ### Where to trade? Here are my favourite crypto exchanges, use the referral link for atleast a 10% discount on your trading fees. - [Bybit](https://www.bybit.com/en-US/invite?ref=M2YNXG) \- Currently, this is my favourite platform! Great liquidity and bonuses for deposits. - [Delta Exchange](https://www.delta.exchange/app/signup/?code=VVRPEI&ref=dexplain.com) \- Good for a degen account, no KYC required but low liquidity. - [Binance](https://accounts.binance.com/en/register?ref=X8XUVA60) \- Lots and lots of spot altcoin pairs, especially BTC pairs. - [KuCoin](https://www.kucoin.com/ucenter/signup?rcode=r3D6E6L&ref=dexplain.com) \- Great for longer small cap holds. --- ## Crypto News - **Coinbase**: Here is a top signal to remember next time the market is crazy bullish and up only, Coinbase App went from [rank 1 to rank 300 in just 2 months](https://twitter.com/Dogetoshi/status/1412465283181260811?ref=dexplain.com). - **Vietnam**: Pham Chinh, the Vietnamese Prime Minister, has asked[ the country’s central bank to start a cryptocurrency program](https://micky.com.au/vietnam-finally-joins-the-crypto-bandwagon/?ref=dexplain.com). This is a big U-turn on its previous policy of prohibiting banks from touching crypto. - **Cardano**: Frederik Gregaard, the Foundation’s CEO, [announced the aim is to onboard ADA into 50 banks and 10 fortune 500 companies](https://cryptopotato.com/cardano-aims-to-onboard-50-banks-and-ten-fortune-500-companies-over-the-next-5-years/?ref=dexplain.com) within the next 5 years. If achieved this will make it one of the easiest cryptocurrencies for users to on/off-ramp into fiat. --- ## DeFi News - **MatrixSwap**: Announced plans to build [a DEX aggregator on top of MATIC](https://twitter.com/matrixswap/status/1412423337305911302?ref=dexplain.com), and that the team has received a grant from the Polygon team to do so. And it will be called The Nebuchadnezzar… so crypto teams are still oblivious when it comes to copyright law. - **TokenTax**: Good news for liquidity providers and DeFi, [it’s thought that providing liquidity on Uniswap V3](https://twitter.com/TokenTax/status/1412451283441786881?ref=dexplain.com) would not be considered a taxable event. This is due to how the smart contracts essentially turn your position into an NFT. - **DeFiYield**: Released a new tool called [the Risky Contract Manager](https://twitter.com/defiyield%5Fapp/status/1412422569077129223?ref=dexplain.com), which automatically checks your wallet address against approved allowances with potential malicious smart contracts. Safety first! - **KoffeeSwap**: It might be Kucoin season? Kucoin Community Chain just launched, and as expected, [yield farms are already starting](https://twitter.com/koffeeswap?ref=dexplain.com) to pop up. No stablecoins yet. - **Aave**: Is Summer DeFi 2.0 finally here? AAVE [token is up by over 16% given the news](https://decrypt.co/75290/aave-up-16-on-news-of-aave-pro-launch?ref=dexplain.com) of its new institutional investor platform called Aave Pro. - **Sushiswap**: Announced [its partnership with Archer DAO](https://twitter.com/Archer%5FDAO/status/1412387532642344965?ref=dexplain.com), which will enable MEV protection for swaps. The integration is already live on SushiSwap, preventing trades from being frontrun and sandwich attacked. - **Ratio Finance**: Introduction of [the upcoming lending platform on Solana](https://ratiofinance.medium.com/ratio-finance-an-introduction-bbbc44add6e7?ref=dexplain.com), will enable users to mint Ratio USD (USDr) from Raydium LPs and earn additional yield. Looks exciting! - **Element**: Added [crvTriCrypto to the platform with the 40-day term](https://twitter.com/element%5Ffi/status/1412452431183630343?ref=dexplain.com) currently netting over 20% APY. Next up is DAI, so familiarise yourself with the platform now. - **Step Finance**: Time for [a hard refresh if you’re using this dashboard](https://twitter.com/StepFinance%5F/status/1412472032487424001?ref=dexplain.com), now includes a transaction history along with all the latest Raydium, Saber, and Orca pools. --- ## NFT Spotlight Be sure to check the listing to view the digital crypto artwork in its full glory, as some art is animated or contains audio. ![](https://dexplain.com/content/images/2021/12/temporal-bear.webp) **Kittball 006 / Temporal Bear** *The Kittball Collection is a creative collaboration put together by Germany’s top House Music label Kittball Records and artist mendezmendez. The collection is made of 30+ of the best artworks created by mendezmendez for Kittball.* - Where to bid? [Rarible](https://rarible.com/token/0xe6c811804b505915017c67380d93be4f245b5a2b:10007?tab=owners&ref=dexplain.com) or [Opensea](https://opensea.io/assets/0xe6c811804b505915017c67380d93be4f245b5a2b/10007?ref=0x5cE9f7032953d8E3f3D98f508C1b9B489Ee621D). - Artist: [mendezmendez](https://twitter.com/mendezmendezart?ref=dexplain.com). --- ## NFT News - **Instagram**: Buying and selling of NFTs directly on Instagram is being seen as a revolutionary step forward for the crypto art scene, [no official date yet but there have been mentionings of a payments section](https://www.cryptopolitan.com/users-will-be-able-to-sell-nfts-on-instagram/?ref=dexplain.com) coming to the app soon enough. Stay tuned! - **Axies**: If you’re still scratching your head over why/how AXS pump appears to be saving the whole crypto market, [check out this thread on Twitter](https://twitter.com/AxiePuff/status/1412606196721209352?ref=dexplain.com). Very good read. - **Mintbase**: Integrated [VR with 3XR](https://twitter.com/mintbase/status/1412696203813392386?ref=dexplain.com), enables everyone to create and share spatial content. So creators can now present their store not in its 2D format but via their own Virtual Gallery. - **PunksOnPolygon**: Users can [now collect and trade PolygonPunks](https://twitter.com/0xPolygonTech/status/1412441219309793282?ref=dexplain.com), inspired by the first NFT project on Ethereum known as Cryptopunks. So the big question is, do forks hold any value from the original NFT project? Come discuss [our discord](https://discord.com/invite/SMgDzbFaqd?ref=dexplain.com). ### Compare Market Caps with MC.XYZ URL: https://dexplain.com/compare-market-caps-with-mc-xyz/ Last updated: 2021-12-03T15:42:10.000Z Deciding how to balance your crypto portfolio between different projects can be a tricky task. You want to give your investments exposure to huge gains while also minimizing risk. Two things that don’t go hand in hand if done incorrectly! A crucial metric for estimating a project’s potential growth is Market Capitalization. Here we will take [a look at using MC.XYZ](https://mc.xyz/?ref=dexplain.com), which will do all the heavy lifting for you, to compare market caps. An amazing tool to add to your repertoire, built by [Radar](https://twitter.com/0xRadar?ref=dexplain.com) and [Don Yakka](https://twitter.com/DonYakka?ref=dexplain.com), lets you focus on making predictions. First, a quick recap on what market capitalization is and how it can help us evaluate potential growth opportunities for a specific crypto project. ## Market Cap: The Basics Market cap is a term used by investors, it’s short for market capitalization. In traditional stock markets, it’s a tool for estimating how big a company is. And the same applies to the blockchain industry, essentially, it’s a metric that measures the current market value of a cryptocurrency. As a result, it’s the most popular tool for data aggregators such as Coingecko or CoinMarketCap to create crypto rankings. **The calculation itself is relatively simple:** - Market Cap = Current Price x Circulating Supply. For example, if **token A** is being traded at $2 and the circulating supply is 40M coins, then the market cap for this project would be $80,000,000\. A common error novice crypto investors or traders make, is the belief that market cap is equal to money inflow. However, it has nothing to do with how much money is available in a coin’s market/exchange’s orderbook. Going back to our example, if token A’s market cap increases to $160M then that means the price went up by 2x to $4\. However, it doesn’t mean $80M in bids suddenly entered token A’s market. As price is dependent on volume and liquidity, it could just be a few million dollars that cause the price to pump. ### What does the market capitalization metric tell us? - **Stability**: You will often see the terms large-cap, mid-cap, and small-cap. Projects with larger market capitalization are seen to be more stable, meaning they may handle periods of high market volatility better. - **Market dominance**: Investors also use the metric as an indicator of the dominance and popularity of cryptocurrencies. Meaning the higher the market cap, the more dominant it is thought to be in the market. For example, many traders look at [Bitcoin Dominance](https://dexplain.com/what-is-bitcoin-dominance/) as a major indicator for an altseason. - **Risk vs Reward**: the market cap metric gives you a good idea about the growth potential of the crypto. For example, people consider large-cap projects such as Ethereum as a less risky investment. Therefore, you might not make the types of huge gains(or major losses) seen by a small-cap project. - **Predictions**: It’s an amazing metric for comparing two cryptocurrencies, as it gives us insights into a project’s growth potentials. That’s what we’re going to focus on today, using the MC.XYZ tool to do all the calculations. ## How to use MC.XYZ - First select the coin with the smaller market cap, the cryptocurrency that you might be holding or thinking of buying. For example, here we’ve selected FTT. ![](https://dexplain.com/content/images/2021/12/FTT.webp) Then select the project with the bigger market capitalization, such as BNB. ![](https://dexplain.com/content/images/2021/12/BNB.webp) Boom! The converter does the rest and calculates by how much the price of FTT needs to go up to achieve the same market cap as BNB. ![](https://dexplain.com/content/images/2021/12/comparaison.webp) Essentially, MC.XYZ enables you to quickly calculate the future growth potential of a cryptocurrency. You can also quickly share your results with friends via the Twitter or Telegram button. Nice! ### Tips for the best results I don’t recommend that you compare market caps for projects that do not operate in similar sectors. Market capitalization calculations don’t take into account if a project is building in decentralized finance, artificial intelligence, store of value, data economy, or supply-chain management. As a result, just going off the basis of “*project A has achieved it, so that means project B can do it”* is probably not the best analysis path for making these estimations. Let’s take a look at a few examples together. [Chainlink](https://dexplain.com/understanding-chainlink-in-5-minutes/) and [Band Protocol](https://dexplain.com/what-is-band-protocol-band-token-explained/) are two projects often compared as they’re both creating Oracle solutions. ![](https://dexplain.com/content/images/2021/12/band-to-link.webp) [Uniswap](https://dexplain.com/uniswap-uni-token-farming-nears-end-where-to-next/) and [Sushiswap](https://dexplain.com/yield-farmers-devour-sushiswap-250-million-locked/) are both decentralized exchanges, so why not compare UNI and SUSHI? ![](https://dexplain.com/content/images/2021/12/sushi-vs-uni.webp) Various analysts point to [Monero](https://dexplain.com/tag/monero/) as a better store of value than Bitcoin, given its privacy benefits for holders. ![](https://dexplain.com/content/images/2021/12/xmr-vs-btc.webp) Hope those three examples have given you some food for thought on how to use MC.XYZ to compare market caps for making your predictions. I’ve also been told more analytical features are coming to the website in the future, so be sure to follow the team on [Twitter](https://twitter.com/mcdotxyz?ref=dexplain.com) or [Telegram](https://t.me/mcdotxyz?ref=dexplain.com) for the latest updates. ### Goblin Town? URL: https://dexplain.com/goblin-town/ Last updated: 2022-11-14T22:05:40.000Z Yesterday we saw BTC crash below $30k for the first time since January 2021, liquidating roughly $800 million in longs across major exchanges. Most Altcoins followed suit with double-digit drops across the board. ![](https://dexplain.com/content/images/2021/12/the-blood.webp) Then we saw an impressive recovery from Bitcoin, adding $5,000 in less than a day and is currently trading around $34,000\. Despite the strength and return into the range above $30k, it’s not clear yet if that was the bottom. Two potential scenarios: 1. This is the bounce, that [we discussed on Monday](https://dexplain.com/porky-pies/), a perfect bear trap. A bullish spring, sweeping the yearly open, confirmation of this scenario would be quickly reclaiming the 35-36k level. 2. Consolidation at current levels (the range low) would be a sign of weakness and would indicate another leg down towards 27k. I believe the big monthly options expiry coming on Friday will result in upside pressure, therefore, leaning towards scenario 1\. But as always, make sure you have a plan for both outcomes! ### Looking to buy the dip? Sign up via our referral link for up to **10% disount** on your trading fees! - [Bybit](https://www.bybit.com/en-US/invite?ref=M2YNXG) \- Currently, this is my favourite platform! Great liquidity and bonuses for deposits. - [Delta Exchange](https://www.delta.exchange/app/signup/?code=VVRPEI&ref=dexplain.com) \- Good for a degen account, no KYC required but low liquidity. - [Binance](https://accounts.binance.com/en/register?ref=X8XUVA60) \- Lots and lots of spot altcoin pairs, especially BTC pairs. - [KuCoin](https://www.kucoin.com/ucenter/signup?rcode=r3D6E6L&ref=dexplain.com) \- Great for longer small cap holds. --- ## Crypto News - **Bitcoin**: Whales [are sending their BTC into exchanges](https://twitter.com/ki%5Fyoung%5Fju/status/1407009318336188418?ref=dexplain.com) and appear to be selling heavily, given that stablecoin reserves are going up at the same time. An indicator that the bear market is confirmed. - **Fireblock**: Is being sued [by staking platform StakeHound](https://ourbitcoinnews.com/lost-access-rights-worth-8-billion-yen-worth-of-ethereum-entrusted-or-major-custody-fireblocks-are-sued/?ref=dexplain.com) as the custody company appears to have lost the private keys for 38,178 ETH. An employee deleted the wallet files without backing them up first – just a bad day at the office? - **Morgan Stanley**: Made their first investment into the crypto space, with [$48 million into the blockchain firm Securitize](https://www.theblockcrypto.com/post/109113/morgan-stanley-invests-blockchain-securitize?ref=dexplain.com), which provides tokenization services. - **Israel**: Appears to be planning to use [Ethereum to power a digital version of its currency](https://u.today/ethereum-to-become-basis-for-digital-shekel-bloomberg?ref=dexplain.com) shekel. Wouldn’t be surprised if it turns out to be a private centralized version of Ethereum. --- ## DeFi News - **Raydium**: Announced details of [the next IDO on AcceleRaytor for Synthetify](https://twitter.com/RaydiumProtocol/status/1406462673579962368?ref=dexplain.com), a synthetic asset creation protocol on Solana. Scheduled for June 29th, this time the token sale is happening via lottery tickets. As usual, participants must be staking RAY ahead of time. - **Stable Magnet**: Here is [a high APR farm, over 13,000%](https://stablemagnet.finance/?ref=dexplain.com), to take a look at on [Binance Smart Chain](https://dexplain.com/tag/binance-smart-chain). Provide SMAG-BNB liquidity on Pancakeswap to earn SMAG tokens in rewards. Of course, beware that the price of SMAG will probably be very volatile. - **Blank Wallet**: Announced their first public [release date is scheduled for 28th June](https://blankwallet.medium.com/blank-wallet-release-announcement-6f44d17585f5?ref=dexplain.com), Blank is a fully-fledged DeFi Web 3.0 smart wallet along with privacy pools for anonymous deposits and withdrawals. - **Impossible Finance**: Hackers [were able to steal $500k from the DeFi protocol](https://twitter.com/Mudit%5F%5FGupta/status/1406878176509194246?ref=dexplain.com), using the same exploit as used on BurgerSwap. Developers who fork code need to start following exploits! - **Injective**: Looking for users to test their platform and [complete the Equinox Staking Epic Task](https://twitter.com/InjectiveLabs/status/1407364752129597444?ref=dexplain.com), might earn you some retroactive rewards in the future? - **Bonfida**: You can now register .sol domain names via Bonfida’s registry service. With COPE’s first [blockchain game reaching release date](https://twitter.com/cyrii%5FMM/status/1407413182004707330?ref=dexplain.com), this should spice up the leaderboards. - **Deus**: Tweeted [out a sneak peak of V2](https://twitter.com/DeusDao/status/1407353501135654914?ref=dexplain.com), highlights are referral system, trading incentives, fractional reserve Stablecoin, and Huobi/stablecoin pool. Exciting! - **Apeswap**: The popular DeFi swap protocol on BSC is now live on Polygon also, there are some lucrative yield farming opportunities such as the BANANA-MATIC pair. Can deposit [into Beefy Finance to automatically compound](https://twitter.com/beefyfinance/status/1407339162278240267?ref=dexplain.com), which is currently giving out over 1% daily. - **Ratio Finance**: Upcoming [asset management protocol on Solana](https://twitter.com/RatioFinance?ref=dexplain.com), aims to increase yields through user-governed smart vaults. Scheduled to go live in Q2 2021, users will be able to deposit stablecoins to earn yield and mint RUSD to remain liquid. - **MonoXFinance**: This protocol will launch on Polygon and Solana, should go live in Q3 2021, one to keep your eyes on and research. [MonoX aims to create greater capital efficiency](https://monox.finance/?ref=dexplain.com) by providing liquidity pools with just single side deposits, it does this through the use of virtual pairs. --- ## NFT Spotlight Be sure to check the listing to view the digital crypto artwork in its full glory, as some art is animated or contains audio. ![](https://dexplain.com/content/images/2021/12/nightmareland.webp) **Nightmareland** *When night falls in Nightmareland, the ghouls and goblins come out to play. Created using original photogrammetry. Music by Glitch Black.* - Where to bid? [SuperRare](https://superrare.com/artwork-v2/nightmareland-24159?ref=dexplain.com) or [Opensea](https://opensea.io/assets/0xb932a70a57673d89f4acffbe830e8ed7f75fb9e0/24159?ref=0x5cE9f7032953d8E3f3D98f508C1b9B489Ee621D). - Artist: [Glitch Black](https://twitter.com/Glitch%5FBlack?ref=dexplain.com). --- ## NFT News - **Yam Finance**: Launched [uPUNKS](https://twitter.com/YamFinance/status/1407107790083031041?ref=dexplain.com), a synthetic asset that tracks the average price of all CryptoPunks NFTs. Additionally, you can earn YAM and UMA rewards for providing liquidity. - **bZx**: Announced [an NFT collection to commemorate](https://twitter.com/bZxHQ/status/1407328726547931140?ref=dexplain.com) their launch onto Polygon, will be distributed by giveaways and completing tasks so stay tuned! Learn more about [bZx Protocol in our review article here](https://dexplain.com/bzx-protocol-is-back-with-bzrx-yield-farming/). - **Twotwoart**: The world’s first Interactive Art Gallery, will exist in the real world and the metaverse together. Project’s [IDO for TWOTWO token is scheduled for July 1st via Mantra DAO](https://twitter.com/Twotwoart/status/1407443314249551877?ref=dexplain.com). Get ready! ### Porky Pies URL: https://dexplain.com/porky-pies/ Last updated: 2022-11-14T22:04:52.000Z Somehow we have more scaremongering coming out about the Chinese government cracking down on cryptocurrencies, [mainly this Reuters article](https://www.reuters.com/article/idUSB9N2NP015?ref=dexplain.com). However, according to people on the ground, it appears that the media [is exaggerating the state of the ban](https://twitter.com/WuBlockchain/status/1406928804858122241?ref=dexplain.com). What a way to start the week, eh? ![](https://dexplain.com/content/images/2021/12/Spring.webp) **Market**: If the selloff causes Bitcoin’s 30k support to break down then expect to see a cascade of liquidations and a swift drop down to 27-28k where we find whales with resting bids. That being said, if you believe we’re in **Phase C** of an accumulation schematic, then this could be the *Spring* event before we grind back up. ### Good Ol Dip Buying? Sign up via one of our referral links to following exchanges for up to 10% discount on your trading fees. - [Delta Exchange](https://www.delta.exchange/app/signup/?code=VVRPEI&ref=dexplain.com) - [Binance](https://accounts.binance.com/en/register?ref=X8XUVA60) - [KuCoin](https://www.kucoin.com/ucenter/signup?rcode=r3D6E6L&ref=dexplain.com) Meanwhile, instead of filling in that McDonald’s application (beras) why not start a new career in the wild world of blockchain development? Chainlink will be offering free training [on writing Ethereum based solidity smart contracts](https://www.crowdfundinsider.com/2021/06/176832-chainlink-to-offer-free-blockchain-developer-training-for-writing-ethereum-based-solidity-smart-contracts-implementing-secure-dapps/?ref=dexplain.com). --- ## Crypto News - **Miami**: Mayor Francis Suarez has now set his sights [on attracting Chinese bitcoin miners to the city](https://www.cnbc.com/2021/06/17/miami-mayor-francis-suarez-trying-to-win-over-chinese-bitcoin-miners.html?ref=dexplain.com), announcing they have plans in place to lower electricity prices in Florida. - **Goldman Sachs**: Became [the first U.S bank to trade Bitcoin futures](https://www.cryptopolitan.com/goldman-sachs-trade-bitcoin-futures/?ref=dexplain.com), entering the market via a partnership with Galaxy Digital. It’s a move that we would expect banks to follow, good for adoption! - **MicroStrategy**: Still buying the dip. Michael Saylor’s company is [now holding 105k BTC at the average buy price of $26k](https://twitter.com/HsakaTrades/status/1406946102163562502?ref=dexplain.com). --- ## DeFi News - **StakeDAO**: Released [a new passive ETH strategy for farming](https://twitter.com/StakeDAOHQ/status/1406921049942360071?ref=dexplain.com), which automatically stacks several protocols on top of each other for yields without impermanent loss. Currently, APR is over 300,000% so get in quick! - **Lavacake**: Here is [a high APR farm on BSC](https://lavacake.finance/farms?ref=dexplain.com), currently offering over 10,000% on LAVA-BUSD with the reward token in LAVA. Just note there is a 6-day harvest lockup in place. - **Deus Finance**: Now offers users the possibility of trading [over 500+ stocks on Huobi Eco Chain](https://twitter.com/DeusDao/status/1405565470040891394?ref=dexplain.com), also live on Ethereum, BSC, xDai, and soon Polygon. One to check out! - **Venus Protocol**: Seems to have broken [away from Swipe’s development team](https://twitter.com/VenusProtocol/status/1406945745698123776?ref=dexplain.com), and is putting together a new core team to work on the project. Kind of unclear where this is going right now, XVS holders will need to follow closely. Learn how to use Venus [in our full tutorial here](https://dexplain.com/venus-protocol-defi-tutorial-how-to-supply-and-borrow-assets-mint-vai-stablecoin-and-farm-xvs-tokens/). - **ACryptoS**: Launched [a new pool for SXP, XVS, VRT, BNB, and VAI](https://twitter.com/acryptosdao/status/1406920703417401347?ref=dexplain.com). This is a weighted pool and functions much like Balancer, so will auto-balance your deposits. Good time to enter as APR is over 100% given it just went live. - **MakerDAO**: Currently voting on a [proposal to activate the Flash Mint Module](https://twitter.com/MakerDAO/status/1406462602952146946?ref=dexplain.com), which if it passes would enable the possibility of flash minting 500,000,000 DAI. I am sure some builders will figure out a cool way to use that! - **Cozy Finance**: The DeFi golden boy developer Andre Cronje released [a new protocol that enables users to invest in DeFi](https://twitter.com/cozyfinance?ref=dexplain.com) while always keeping their initial deposits safe from hacks or exploits. Nice! - **Ren Protocol**: Announced its [integrations for Solana are live](https://twitter.com/renprotocol/status/1405543305069449217?ref=dexplain.com), meaning RenVM is providing a direct bridge for moving BTC onto the Solana network. Will be interesting to see what DeFi products appear using renBTC. --- ## NFT Spotlight Be sure to check the listing to view the digital crypto artwork in its full glory, as some art is animated or contains audio. ![](https://dexplain.com/content/images/2021/12/elon-dogegirl.webp) **Elon Dogegirl** *Looks like Elon Musk got himself a new pet. Gotta love the geneticists over in Japan, am I right? Why can’t they get cat girls sorted out already? Maybe when Elon dumps his Doge on us he can afford to fund the development of cat girls finally.* - Where to bid? [MakersPlace](https://makersplace.com/lushsux/elon-dogegirl-7-of-8-67128/?ref=dexplain.com) or [Opensea](https://opensea.io/0x934285c4e1277554be366680053020317a6b507b?ref=0x5cE9f7032953d8E3f3D98f508C1b9B489Ee621D). - Artist: [lushsux](https://twitter.com/lushsux?ref=dexplain.com). --- ## NFT News - **Decentraland**: An estate in the metaverse just sold [for over $900k in MANA tokens](https://www.theblockcrypto.com/post/108940/an-estate-in-virtual-world-decentraland-just-sold-for-nearly-a-million-dollars?ref=dexplain.com), and what’s cool is the buy was made by a real estate investment firm called Republic Realm. - **BakerySwap**: Announced [POKER nfts are coming to the platform](https://twitter.com/bakery%5Fswap/status/1406887492276547587?ref=dexplain.com), namely pet branded Poker card decks. Will include blind boxes and levels of staking power for rewards. - **Bubble**: Coinbase co-founder Fred Ehrsam stated in an interview [with Bloomberg TV that 90% of NFTs would be worthless](https://observer.com/2021/06/coinbase-cofounder-warn-nfts-worthless-interview/?ref=dexplain.com) within just a couple of years, likening the bubble to the dotcom boom of the 1990s. So how do we know which ones won’t be worthless? Let’s discuss together [in our discord!](https://discord.com/invite/SMgDzbFaqd?ref=dexplain.com) ### Boing URL: https://dexplain.com/boing/ Last updated: 2022-11-14T22:05:20.000Z Consumer price data came out of the US yesterday, showing a jump of 5% in May, the fastest pace since August 2008\. However, the rise in inflation is still being seen as insufficient for the Feds to change their monetary stance. As a result, [it seems investors have calmed](https://www.reuters.com/world/middle-east/global-markets-wrapup-6-2021-06-10/?ref=dexplain.com), the risk-on appetite continues, and stocks rallied. Surely the feds have to react at some point, right? The question is when… meanwhile [BTC bounced before 30k](https://twitter.com/DaanCrypto/status/1402940991942897666?ref=dexplain.com), Texas is letting [banks hold BTC for clients](https://twitter.com/DocumentingBTC/status/1403317166506709001?ref=dexplain.com) and [Michael Saylor will buy](https://twitter.com/cubantobacco/status/1402940663201628160?ref=dexplain.com) bigly next week. Not going to lie… does feel like the bottom is in but its hard to get a read! ### Need a new exchange? Here are my favourite crypto exchanges, use the referral link for up to **a 10% discount** on your trading fees. - [Bybit](https://www.bybit.com/en-US/invite?ref=M2YNXG) \- Currently, this is my favourite platform! Great liquidity and bonuses for deposits. - [Delta Exchange](https://www.delta.exchange/app/signup/?code=VVRPEI&ref=dexplain.com) \- Good for a degen account, no KYC required but low liquidity. - [Binance](https://accounts.binance.com/en/register?ref=X8XUVA60) \- Lots and lots of spot altcoin pairs, especially BTC pairs. - [KuCoin](https://www.kucoin.com/ucenter/signup?rcode=r3D6E6L&ref=dexplain.com) \- Great for longer small cap holds. --- ## Crypto News - **Security**: A mysterious [malware stole over 26M passwords](https://arstechnica.com/gadgets/2021/06/nameless-malware-collects-1-2tb-of-sensitive-data-and-stashes-it-online/?ref=dexplain.com), just a reminder that when it comes to crypto, lax security is unforgiving. Be sure to have 2FA enabled across all your exchange accounts and emails. And there are many options for hardware wallets these days: Ledger, Trezor, SafePal, KeepKey, and more! - **IMF**: Looks like [the central banks are scared](https://www.reuters.com/article/el-salvador-bitcoin-imf/imf-sees-legal-economic-issues-with-el-salvador-bitcoin-move-idUSL2N2NS1PB?ref=dexplain.com) of countries adopting Bitcoin as legal tender as IMF states they have a legal economic issue with El Salvador’s BTC adoption. - **Reddit**: Co-founder and billionaire Alexis Ohanian stated in [an interview with CNBC](https://twitter.com/SquawkCNBC/status/1402966758118547461?ref=dexplain.com) that he holds *A Lot* of Ethereum. - **WazirX**: The Binance owned exchange in India is reportedly [being investigated for anti-money laundering failings](https://cryptopotato.com/wazirx-reportedly-investigated-by-indias-enforcement-directorate/?ref=dexplain.com) and is being accused of lax KYC verifications. --- ## DeFi News - **Curve**: Launched their [first algorithm for trading volatile crypto assets](https://twitter.com/CurveFinance/status/1402673150425509890?ref=dexplain.com), meaning there is ETH and BTC in the same pool. The [whitepaper maths is a bit deep](https://curve.fi/files/crypto-pools-paper.pdf?ref=dexplain.com), but it appears competition for Uniswap v3 is here. - **1inch**: Now has its own protocol for [powering decentralized limit orders](https://twitter.com/1inchNetwork/status/1403049617449701377?ref=dexplain.com) (previously was using 0x), and will be available on Ethereum, BSC, and Polygon. The new protocol is more gas efficient and doesn’t charge an extra fee to use! - **Tornado Cash**: Announced [the team is in the process of deploying to BSC](https://tornado-cash.medium.com/tornado-cash-bsc-deployment-proposal-96dfc06055f8?ref=dexplain.com), enabling users to transfer BNB with privacy. And the protocol’s [native token TORN will be listed on Binance](https://www.binance.com/en/support/articles/2d4e19b8c4854f969d95dd35bf65b182?ref=dexplain.com), looks good for future growth! - **MarginSwap**: [Launched on Polygon](https://twitter.com/marginswap/status/1402656226534699013?ref=dexplain.com), enabling users to open leveraged positions on MATIC, WBTC, ETH, LINK, AAVE, USDC, USDT, and DAI. Gas fees are as low as 0.001$! - **Grape Protocol**: [Upcoming to check out](https://twitter.com/solanagrape?ref=dexplain.com)! Aims to link Social Media accounts with Solana wallets as a way of proving you have *skin in the game* and is partnered with [Media Network to launch a streaming platform](https://media.network/?ref=dexplain.com). - **Particle Finance**: Looks like [SolFarm](https://solfarm.io/?ref=dexplain.com) will soon have some competition on Solana for high APY vaults! [Particle’s vaults are not live yet](https://parti.finance/?ref=dexplain.com), definitely one to bookmark and research, powered by PARTI token. - **Frax Finance**: Announced [a partnership with OlympusDAO](https://olympusdao.medium.com/ohm-x-frax-a-new-breed-of-partnership-95cd1cc01770?ref=dexplain.com) to launch a dual-incentivized OHM-FRAX liquidity pool. Recommend reading up on FRAX, [with Andre Cronje mentioning CPI rates](https://twitter.com/samkazemian/status/1403262873510416387?ref=dexplain.com), it seems some sort of DeFi inflation-proof stablecoin might be on the horizon! - **DodoEx**: Integrated [the Polkadot parachain Moonbeam network](https://twitter.com/BreederDodo/status/1403262212915929090?ref=dexplain.com), looking good for DODO to be a leading DEX on polkadot’s initial ecosystem. Learn more about [DODO token in our full review here](https://dexplain.com/what-is-dodo-meet-the-proactive-market-maker/). - **Twirl DAO**: Another upcoming project on Solana to research! Twirl aims to make liquidity provisions more efficient and create multiple yield streams. Can [sign up now for a chance of beta testing](https://www.twirlfinance.com/sign-up?ref=dexplain.com). --- ## NFT Spotlight Be sure to check the listing to view the digital crypto artwork in its full glory, as some art is animated or contains audio. ![](https://dexplain.com/content/images/2021/12/upside-down.webp) **Upside Down** *A swimming girl turning around, seen from the bottom of a swimming pool. Water circles on the surface and a light shadow at the bottom.*.. - Where to bid? [MakersPlace](https://makersplace.com/piras/upside-down-1-of-50-12096/?ref=dexplain.com) or [Opensea](https://opensea.io/assets/0x2a46f2ffd99e19a89476e2f62270e0a35bbf0756/8986?ref=0x5cE9f7032953d8E3f3D98f508C1b9B489Ee621D). - Artist: [Alessandro Piras](https://twitter.com/alexpirasart?ref=dexplain.com). --- ## NFT News - **Sotheby’s**: Reported [an extremely rare Alien crypto punk](https://twitter.com/Sothebys/status/1402996062474760193?ref=dexplain.com) sold for $11.8M, setting a new world record for a CryptoPunk sale. - **FROG**: Aims to reward creatives for their original art and memes through a community-ranked leaderboard, powered by Solana and FROG token. Users will be able to [stake, burn, and vote to decide the best meme creators](https://froglana.com/?ref=dexplain.com#about). - **XAYA**: Announced [a partnership with Polygon](https://twitter.com/XAYA%5Ftech/status/1402924261229142017?ref=dexplain.com) to bring scalability to its blockchain games and NFTs. One to check out! - **Shirtum**: Upcoming [global marketplace for football NFTs](https://twitter.com/shirtumapp?ref=dexplain.com), should do well with the Euros competition starting today? Public sale starts 25th June, set your calendars. ### Leet URL: https://dexplain.com/leet/ Last updated: 2022-11-14T21:59:16.000Z Rumors are circulating that [the next installment of Grand Theft Auto](https://decrypt.co/72768/grand-theft-auto-6-rumored-have-game-version-bitcoin?ref=dexplain.com) might payout gamers in cryptocurrency instead of in-game cash when playing the game. As one of the most successful game franchises ever, if this turns out to be true, it would introduce millions to crypto! ### Need a new exchange? Here are my favourite crypto exchanges, use the referral link for atleast a 10% discount on your trading fees. - [Bybit](https://www.bybit.com/en-US/invite?ref=M2YNXG) \- Currently, this is my favourite platform! Great liquidity and bonuses for deposits. - [Delta Exchange](https://www.delta.exchange/app/signup/?code=VVRPEI&ref=dexplain.com) \- Good for a degen account, no KYC required but low liquidity. - [Binance](https://accounts.binance.com/en/register?ref=X8XUVA60) \- Lots and lots of spot altcoin pairs, especially BTC pairs. - [KuCoin](https://www.kucoin.com/ucenter/signup?rcode=r3D6E6L&ref=dexplain.com) \- Great for longer small cap holds. Meanwhile, FTX signed [a name deal with major esports organization TSM](https://twitter.com/JacobWolf/status/1400802144584974340?ref=dexplain.com), so it seems we’re all on track to join the L337speaking Gamer-nation. Also, make sure you bookmark [this tool for watching exchange flows](https://www.viewbase.com/exchange?ref=dexplain.com), major inflows might indicate selling whereas outflows can indicate an intention to hold. **Must watch:** Max Keiser screams “[We’re not selling! Fuck Elon!](https://youtu.be/GC%5Fh%5Ftz44uw?ref=dexplain.com)” during Bitcoin 2021 Conference. --- ## Crypto News - **El Salvador**: President Nayib Bukele is proposing a bill that would [make Bitcoin legal tender in the country](https://decrypt.co/72892/el-salvadors-president-wants-bitcoin-to-be-legal-tender-heres-what-that-means?ref=dexplain.com). Meaning debts can be contracted and settled in BTC, along with banks being able to transact in Bitcoin. Paraguay is also looking [into this possibility](https://outline.com/HKzq8e?ref=dexplain.com). - **Layer2**: The [scaling wars are starting to heat up](https://twitter.com/Immutable/status/1401799238531444739?ref=dexplain.com), with Vitalik stating that there is one major difference between Rollups (such as [Loopring](https://dexplain.com/loopring-the-solution-to-high-ethereum-gas-fees/)) and Sidechains (such as Polygon), which is that *Rollups inherit the security of Ethereum*. - **BTCD**: While Bitcoin Dominance [did rebound a little on 19th May](https://beincrypto.com/bitcoin-dominance-btcd-resumes-fall-aims-for-new-all-time-low/?ref=dexplain.com), it’s now lost all of those gains and continues to fall towards new all-time lows. Some may see this as an overall bearish indicator for the whole market, others might see it as the confirmation for huge upwards movement from altcoins. Guess we will see? --- ## DeFi News - **Andre Cronje**: The [DeFi golden hands developer Tweeted](https://twitter.com/AndreCronjeTech/status/1401567597188071427?ref=dexplain.com) out that gas prices are starting to look good and he’s gearing up for new releases. No using his well-known deployer address this time though! - **Uniswap**: One of the reasons that gas prices are going down is because Layer2 adoption is going up! Uniswap has been [deployed on the Arbitrum mainnet](https://twitter.com/Uniswap/status/1400847744596598792?ref=dexplain.com). - **Basket DAO**: Announced it was now [an official Yearn Finance ecosystem partner](https://twitter.com/BasketDAOOrg/status/1401482374727098371?ref=dexplain.com). Currently, BDI is farming yvBOOST and crvLINK with plans to add more in the future. Learn more about YFI vaults [in our full review here](https://dexplain.com/yearn-finance-vaults-explained/). - **Aave**: The founder of [Aave stated on Twitter that collateral NFT options](https://twitter.com/StaniKulechov/status/1400638828264710144?ref=dexplain.com) will be coming to the protocol soon enough. Will be very interesting to see how they deal with liquidations on this front, as NFTs are not nearly as liquid. - **SolFarm**: Users will [soon be able to farm TULIP via the TULIP-USDC](https://twitter.com/Solfarmio/status/1401747528488525828?ref=dexplain.com) fusion pool on Raydium. Great to see collaboration between two leading Solana builders. - **Chainlink**: The leading oracle network-integrated 55 new projects during May, a total of 567 projects are using Chainlink’s services. Bullish for building! Check out [our full review on LINK here](https://dexplain.com/understanding-chainlink-in-5-minutes/). - **Raydium**: Hard to believe this project has only been live for 100 days! Raydium published [a quick summary of what’s been done so far](https://raydium.medium.com/100-days-of-raydium-453863c684f6?ref=dexplain.com), and announced next up would be adding stablecoin pools that follow the [Curve finance algorithm](https://dexplain.com/what-is-curve-finance-and-crv/). - **Fluidity**: An [upcoming stablecoin project on Solana](https://twitter.com/fluiditymoney/status/1395762162136616961?ref=dexplain.com), with the idea of rewarding users in cryptocurrencies for simply using them. Recently received a grant by the Solana Foundation, one to follow! - **OnionMixer**: The first decentralized protocol for [anonymous cross-chain transactions](https://twitter.com/OnionMixer/status/1401843154295222274?ref=dexplain.com), the tech is accessible on DEGO Finance’s website. Learn more about [DEGO token in our full review here](https://dexplain.com/what-is-dego-finance-sustainable-liquidity-mining/). --- ## NFT Spotlight Be sure to check the listing to view the digital crypto artwork in its full glory, as some art is animated or contains audio. ![](https://dexplain.com/content/images/2021/12/TF24.webp) **TF24** *Cyberpunk Art A girl gamer in a dystopian futuristic world. A piece that focuses on low key, high tech mood, showcasing the advancement of technology.* - Where to bid? [MakersPlace](https://makersplace.com/zaphodok/tf24-2-of-5-19766/?ref=dexplain.com) or [Opensea](https://opensea.io/assets/0x2a46f2ffd99e19a89476e2f62270e0a35bbf0756/16637?ref=0x5cE9f7032953d8E3f3D98f508C1b9B489Ee621D). - Artist: [Piandex](https://twitter.com/ipiand?ref=dexplain.com). --- ## NFT News - **eBay**: Announced it will permit the sale of [non-fungible tokens for digital collectibles](https://www.theblockcrypto.com/linked/104508/ebay-offering-nft-sales?ref=dexplain.com) on the platform, users can bid on the NFTs in the same way they would for a physical item. Big for adoption! - **Sonar Watch**: Now supports [displaying NFTs and collectibles](https://twitter.com/Sonarwatch/status/1401542287465779204?ref=dexplain.com), an amazing way to track your full portfolio on Solana, recommend checking the dashboard out. - **TOKAU**: Just [completed its IDO via BakerySwap on BSC](https://twitter.com/bakery%5Fswap/status/1401806256411713536?ref=dexplain.com), a record of 10,874 participants meaning the sale was 260x oversubscribed. Tokau is a way for celebrities and fans to engage via NFT gifts. - **Enjin**: Announced it has secured [a multimillion-dollar funding raise](https://www.coindesk.com/enjin-private-token-sale-nfts-parachain-polkadot?ref=dexplain.com) which will see it migrate its public NFT blockchain Efinity to operate on Polkadot as a parachain. Bullish for ENJ! ### What is Truebit? TRU Token Review URL: https://dexplain.com/what-is-truebit-tru-token-review/ Last updated: 2026-04-26T10:43:13.000Z [Truebit protocol](https://truebit.io/?ref=dexplain.com) enables any smart contract capable blockchain to securely perform huge computations in standard programming languages quickly with lower gas costs. Here we will look at what problems Truebit Protocol aims to solve, review TRU token, and provide thoughts on the project’s future. ## What is Truebit? Currently, the smart contracts that power [DeFi platforms](https://dexplain.com/category/learn-crypto/decentralized-finance-defi/) perform small computations such as [yield farming](https://dexplain.com/tag/yield-farming) calculations quickly and correctly. However, larger computational tasks such as machine learning, facial recognition, or big data are not feasible and cause security risks for blockchains due to the verifier’s dilemma. - **Verifier’s Dilemma**: refers to the lack of incentives a miner has for verifying and storing records of new transactions in consensus protocols (can apply to both PoW and PoS networks). Because the incentive is block rewards, a miner may choose to allocate more resources to block production and not worry about having a fully verified node. The result is a minimal amount of nodes storing the full blockchain history, undermining the security of the whole network. Therefore, the Truebit protocol is an enhancement or scalability plugin for builders. Essentially, it does this by taking power-intensive computational tasks off-chain, where they can be dealt with by an optimal programming language. And then only submits the outcome to the blockchain. Meaning, **significantly lower gas fees** and **faster transaction times**. Lastly, the beauty of the protocol is that any smart contract can issue a task to be solved off-chain allowing the architecture to remain **trustless**. ## TRU Tokenomics Now you may think: if the tasks are going OFF-CHAIN, how can the verification remain secure? The quick answer is that **Truebit is an oracle** (like [Chainlink](https://dexplain.com/understanding-chainlink-in-5-minutes/) or [Band Protocol](https://dexplain.com/what-is-band-protocol-band-token-explained/)) and **a scalability solution** in one. Essentially, *Solvers* and *Verifiers* receive rewards (in TRU) for completing tasks. So instead of relying on cryptographic proofs for correctness, which would be slower, the protocol creates a quasi-“Verification Game”. Its built on two layers, where anyone can challenge solutions through consensus. And ecosystem actors are incentivized to participate given the remuneration in TRU tokens. ![](https://dexplain.com/content/images/2021/12/truebit-token-model.webp) ### Main Token Model Features - **Minting**: TRU uses a bonding curve that mints new tokens as demand increases, it’s a design choice to promote stable price growth and reduce huge price swings by early whale activity. - **Burns**: In the same process, when people sell TRU the bonding curve will destroy tokens. - **Arbitrage**: The automatic minting and burning will only happen when people buy/sell via Truebit-OS (using the bonding curve), meaning trading on open markets (Uniswap) will create arbitrage opportunities. - **Usage**: TRU is also the method of payment by *Task Givers*, and a portion is burned. As a result, heavy adoption will pressure demand by reducing the circulating supply. Furthermore, this will increase exponentially as the protocol is deployed to more mainnets such as Tron, Nervos, or Ocean. ## Looking to the future - One thing to note is TrueBit didn’t appear out of nowhere. This is not a team looking to capitalize on Venture Capitalist’s loose investing due to 2021’s bullish market conditions. Founded in 2017, this is a protocol that’s been under development for 4 years. And given the tech’s use cases is a possible multi-billion dollar market cap project (just look at [Skale](https://dexplain.com/what-is-skale-network-skl-token-explained/) or [Loopring](https://dexplain.com/loopring-the-solution-to-high-ethereum-gas-fees/)). Furthermore, I suspect we will see heavy pushing from DeFi builders to adopt TrueBit as a preferred scalability solution. Because the protocol has existing links to the wider Ethereum team. > If you asked me what my main worry re PoS is, I would say either financial centralization risk arising from either stake pooling being too effective or.... > > — vitalik.eth (@VitalikButerin) [September 30, 2018](https://twitter.com/VitalikButerin/status/1046190796528119808?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) For example, the [whitepaper](https://people.cs.uchicago.edu/~teutsch/papers/truebit.pdf?ref=dexplain.com) acknowledges suggestions from [Vitalik Buterin](https://twitter.com/VitalikButerin?ref=dexplain.com) and the creator of Solidity (the main smart contract language), [Christian Reitwiessner](https://twitter.com/ethchris?ref=dexplain.com), co-authored the paper with TRU’s founder Jason Teutsch. > TrueBit looks like a natural solution for scaling computation on Ethereum, despite the '96 throwback site: [https://t.co/WcETZ48U9B](https://t.co/WcETZ48U9B?ref=dexplain.com) > > — Fred Ehrsam (@FEhrsam) [April 13, 2017](https://twitter.com/FEhrsam/status/852660767752986624?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) **Coinbase**: Another plus is TRU’s strong links to some heavyweights in the Coinbase world, with one of the co-founder’s Fred Ehrsam being an investor. Additionally, [Polychain Ventures](https://twitter.com/polychain?ref=dexplain.com) is a financial backer which is led by Olaf Carlson-Wee (an early CB employee). Important as though they may no longer work there, they do hold Coinbase stock. Meaning Truebit’s TRU token could very easily be a future listing on Coinbase Pro. - And let’s not forget that Polychain has a great track record for early investment: LUNA, XTZ, MKR, and COMP. ### What about Scaling Wars? Everywhere we look we see teams embrace Layer2 scaling tech because solving Ethereum’s high network fees and slow transaction times is crucial for attracting more users. Matic, Loopring, Optimism, Arbitrum, StarkWare, xDaiChain… The list goes on and on! ![](https://dexplain.com/content/images/2021/12/layer-2-ecosystems.webp) So you might ask, where does TrueBit fall? **The answer is everywhere and anywhere because they’re not direct competitors**! Truebit’s tech is about giving DeFi builders a realistic way to handle huge computational tasks; it can co-exist with [Layer2 infrastructure](https://dexplain.com/tag/layer2-infrastructure). Meaning there is no fear of Truebit or TRU becoming obsolete, this protocol is here to stay. ### What is DexTools? DEXT Token Review (2026 Update) URL: https://dexplain.com/what-is-dextools-dext-token-review/ Last updated: 2026-07-17T16:22:59.000Z [DexTools](https://www.dextools.io/?ref=dexplain.com) is one of the best-known real-time analytics platforms for tokens trading on decentralized exchanges. For traders swapping tokens on DEXs, it has become a go-to tool for charts, liquidity data, and spotting new pairs. Here we will take a look at what DexTools does today, its key features, and the role of the DEXT token. ## What is DexTools? DexTools provides live charting and analytics for tokens across decentralized exchanges. In the early days of DeFi, DEX trading was effectively done blind, because there was no reliable infrastructure to generate real-time charts for on-chain pairs. DexTools solved that problem. As a result, it became a standard part of the DEX trader's toolkit. Since then, the platform has expanded well beyond its Ethereum and Uniswap roots. It now supports a wide range of blockchains, including BNB Chain, Solana, Base, Arbitrum, and many others. As a result, traders can track new listings and liquidity across dozens of networks from a single interface. ## Key Features **Pair Explorer:** The core tool, showing real-time price, liquidity, volume, and transaction data for any supported trading pair. **Pool Explorer:** A live feed of newly created liquidity pools, which traders use to find tokens the moment they launch. **Token scores and audits:** DexTools surfaces on-chain risk signals to help users spot potential scams, such as honeypots or contracts with dangerous permissions. However, these signals are aids, not guarantees — you should always do your own research. ## The DEXT Token DEXT is the native utility token of the DexTools ecosystem. It is used to unlock premium features and higher access tiers on the platform. As a result, active traders who want advanced analytics have a direct reason to hold and use the token. Token utility tied to real product usage tends to be more sustainable than utility that exists only for speculation. ## Looking to the Future Looking to the future, DexTools sits in a competitive space, with rivals such as [DexScreener](https://dexscreener.com/?ref=dexplain.com) and [Birdeye](https://birdeye.so/?ref=dexplain.com) also fighting for traders' attention. However, its early-mover position and multi-chain coverage keep it among the most widely used DEX analytics platforms. As a result, it remains a useful tool for anyone trading tokens on decentralized exchanges. For more on-chain analytics tooling, see our [guide to NFT and cryptoart analytics tools](https://dexplain.com/four-tools-for-nft-and-cryptoart-analytics/). Always do your own research before trading any on-chain asset. *This article was updated in July 2026 to reflect DexTools' multi-chain expansion and current feature set.* ### List of Cryptocurrency Scams: Beware! URL: https://dexplain.com/list-of-cryptocurrency-scams-beware/ Last updated: 2021-12-03T12:04:32.000Z With the recent news that [Ledger’s customer database from its e-commerce store](https://www.coindesk.com/why-ledger-kept-all-that-customer-data-in-the-first-place?ref=dexplain.com) was publicly dumped onto a hacking forum. We thought it wise to go over some of the popular techniques scammers use to dupe their victims. Here we will go through a list of well-known cryptocurrency scams. Many were not born in [crypto](https://dexplain.com/tag/crypto), scams have been around since humanity exists. However, [bitcoin](https://dexplain.com/tag/bitcoin) and cryptocurrencies are popular targets for scammers given the pseudo-anonymous nature. And of course that there is no possibility for a central authority to simply reverse the transaction. > Today we were alerted to the dump of the contents of a Ledger customer database on Raidforum. We are still confirming, but early signs tell us that this indeed could be the contents of our e-commerce database from June, 2020. > > — Ledger (@Ledger) [December 20, 2020](https://twitter.com/Ledger/status/1340769565639233536?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) Remember in crypto you control your private key, which means you control your security. The best way to avoid getting caught up in one of these scams is to simply educate yourself. And always be extremely cautious when you read something online. If it sounds too good to be true then it most likely is. If your details are part of Ledger’s leak, then it’s highly likely you will start receiving emails with malicious intentions. ## List of Cryptocurrency scams 1. **Phishing scam**: one of the most effective scams worldwide for any industry is to steal a user’s account information. Usually, this is done through a cloned website or software. You should always be mindful of the URL in your browser’s address bar. Scammers may spread harmful links through social media or fake customer support. Many exchanges support **Anti-Phishing** codes which will appear in any emails to ensure you know they’re genuine. 2. **Fraudulent mobile apps**: Again this resembles a phishing scam only it will be in the form of fraudulent software. Generally, the scammer takes advantage of lax rules on Google PlayStore for Android devices. Most faked apps are Coinbase, MetaMask, MyEtherWallet (MEW), Ledger Live, or Electrum. This also happens in the form of browser extensions for Chrome, Firefox, or Edge. If there is a real app you want to install, always make sure you go to the installation process from the creator’s legitimate website. 3. **Celebrity giveaways**: No Elon musk or Vitalik is not handing out free ETH. And CZ is not giving out free Bitcoin. Don’t be delusional. Generally, the scammer attempts to create a fake social profile that clones the celebrity account. In rarer cases, industry figure accounts have been hacked. Again: don’t be delusional! 4. **Ponzi schemes**: investment scams for cryptocurrency will probably have a very well designed website. They nearly always ask you to deposit a certain amount while promising daily returns of 10% profit. They hope you will deposit more and more, and then they just run away with the funds. Common themes are *Amazing Trading Bot*, *Cloud Mining*, or simply promising unrealistic returns. One way to avoid this type of scam is to use common sense: nobody can quadruple your BTC deposit in 3 days. And just stick to reputable exchanges or well known DeFi protocols. 5. **Hardware wallet scam**: many believe that as soon as you use a hardware wallet such as Ledger or Trezor then your funds are 100% safe. This isn’t exactly true and you still need to be on the lookout for scams. For example, scammers may create a fake Ledger Live application that asks you to enter your security phrase. Remember, the legitimate Ledger Live software doesn’t need your wallet’s mnemonic phrase to function: you just click a button on the device. 6. **Paper wallet generators**: number six on our list of cryptocurrency scams, many tutorials on Bitcoin security will suggest creating a paper wallet for long term storage. You generate the wallet details and print out a piece of paper, which you can then store securely. Scammers have taken advantage of this by setting up fake generator websites, where the wallet is in their control. Once you deposit the funds, then they can steal them. Paper wallets should only be used by experienced crypto users! 7. **The Pump and Dump**: this one may be a bit harder to spot because of course projects do *pump and dump* organically through trading. Especially true for Uniswap offerings where an early investor may buy up a massive chunk of the token’s total supply. To spot what is obviously a scam you will need to do your own research on the project. Such as the team, the whitepaper, and join their community to get a feeling. We suggest being warier of anonymous ICOs. A pump and dump scam to watch out for is a scammer that hides behind a trading signal group. As the group leader, the scammer will claim a Gem token to buy up due to some insider knowledge. Whereas, in actual fact, the scammer has simply bought up a large amount of the coin before you. The group will pump the price and the scammer will dump on you. As a result, if you do decide to join a trading group make sure it has been around for some time. 8. **The Rugpull**: this is a scam technique well known to any DeFi enthusiasts. It involves the token creators implementing a **mint() function** into the smart contract code. Essentially, it lets them create new tokens which they can then dump onto the market (usually through Uniswap). The price crashes into oblivion and the project leaders disappear into the night. Your portfolio is now worthless. Again the way to avoid this is research. Check token holders on [etherscan](https://etherscan.io/?ref=dexplain.com), is there a wallet address with a suspiciously high balance? Of course, if they use a mint function you won’t know until it’s too late. And some projects do use this function for legit purposes, has the code been audited? If not, does the project’s tokenomics require a mint function? Ask questions in their telegram group, if they ban you well… that’s an answer in itself. 9. **Airdrop scams**: this one sounds very dumb if you understand how cryptocurrency wallet’s work. But scammers know a large number of people do not! For example, if you have always managed your coin on an exchange then you may not understand how private keys work. For a legitimate airdrop, you DO NOT need to give out: private keys, KYC documents, or even email addresses. A legit airdrop may ask you to complete certain tasks such as retweets or joining their telegram group, known as bounty. 10. **Chargebacks:** If you’ve decided to sell or buy crypto on a peer to peer platform. Then make sure you watch out for scammers who try to chargeback the payment. Mostly the scam is done through PayPal, given that PayPal nearly always reverses the transaction when people claim it wasn’t made by them. Another method scammers use is by entering down a payment reference on the bank transfer such as “HDD Drive 2TB” to indicate you’re selling them a hard drive through a platform like Gumtree or Craigslist. They then call their bank and claim the device never arrived. In certain cases, the bank is able to reverse its payment and take back the money you received. You can avoid these scams by not using PayPal and only trading with users with a high reputation. ## Final Thoughts While we have covered quite a lot of scams on this list of cryptocurrency scams, there are definitely more in existence. Hackers and scammers are very creative so they will always invent more ways of tricking people in the future. Such as when a project is going to go through a hard fork, they may try to clone the whole blockchain to trick you out of your coin. And when it comes to [DeFi protocols](https://dexplain.com/tag/defi) or hidden token smart contract code, the scam possibilities are nearly endless. If a protocol has not gone through a security audit, then you may want to avoid it or ask them if an audit is on the roadmap. We suggest following [defiyield\_info](https://twitter.com/defiyield%5Finfo?ref=dexplain.com) and [WARONRUGS](https://twitter.com/WARONRUGS?ref=dexplain.com) accounts on Twitter, in our experience, they highlight tokens that may be fraudulent quickly. Though the real reminder of this whole article is to make it a habit of being skeptical! ### What is Premia Token? Decentralized Options Platform URL: https://dexplain.com/what-is-premia-token-decentralized-options-platform/ Last updated: 2026-04-26T10:46:55.000Z [Premia](https://premia.finance/?ref=dexplain.com) is a [decentralized finance (DeFi)](https://dexplain.com/tag/defi) options trading platform on [Ethereum](https://dexplain.com/tag/ethereum) and [Binance Smart Chain](https://dexplain.com/tag/binance-smart-chain). The protocol enables users to trade American-style puts and calls options with an expiration date. Essentially, the **Premia Options Minter** can write options contracts for any token denominated in DAI, ETH, or WBTC. The platform is powered by its native PREMIA token, which users can stake to earn rewards. Here we will take an overview look at what is Premia token and its decentralized options platform. ## What is options trading? Options trading is a well-used product in traditional finance, as it gives buyers the ability to bet on price movements and boost returns with minimal capital. In short, an option is a binding contract that lets the user buy or sell an asset at a predetermined price, before or on a specific date. A call option is the right to buy an underlying asset, whereas a put option is the right to sell. However, note that option holders are not obligated to do so. ![](https://dexplain.com/content/images/2021/12/create-any-option-contract.webp) Therefore options contracts always feature several elements which you will also find on the Premia platform: underlying asset, type (call or put), strike price, and expiry date. Any changes to the terms would turn it into a new contact. One thing to remember is that options have an expiration, unlike trading perpetual futures that could last forever, option pairs will stop trading after the expiry date. ## How does Premia work? It’s important to understand how options trading works to understand how a PREMIA token is special, so we hope you didn’t skip the refresher above. PREMIA is an ERC1155 token, a standard that is primarily used by [non-fungible token (NFTs)](https://dexplain.com/tag/non-fungible-tokens) creators as crypto-collectibles or artwork. It enables the same smart contract to mint and manages many unique tokens, or in Premia’s case create different options. ![](https://dexplain.com/content/images/2021/12/limitless-options.webp) Additionally, as ERC1155 allows multi contracts to be created and traded in one transaction, the team’s design choice reduces network fees for users. For example, you can approve every single Premia option contract **in just one Approve Transaction** – if you wanted. Another positive is that ERC1155 is compatible with other marketplaces such as [OpenSea](https://dexplain.com/tag/opensea), meaning users can trade even if the native marketplace goes offline. It’s no surprise that the Anon Powered development team understands the power of NFTs so well, as the first project launched under their brand was Don’t Buy Rope (an early pioneer of NFT [yield farming](https://dexplain.com/tag/yield-farming)). ## PREMIA Tokenomics The token has a fixed supply of 100M, with a 25M distribution happening via a **Linear Bonding Curve**. This means the token’s price will theoretically only go up as the supply increases. ![](https://dexplain.com/content/images/2021/12/linear-bonding-curve.webp) PREMIA should be seen as a utility and governance token, with the following use cases: - **Fee sharing**: Users can choose the stake their tokens to earn a share of the protocol’s fees. This is done through periodic buybacks, therefore, holders earn the rewards in PREMIA tokens. - **Reduced fees**: Additionally stakers can lock their staked tokens to earn reduced trading fees on the platform. - **Governance:** The protocol is community-driven meaning token holders have voting power over proposals, such as deciding to distribute fees to stakers. - **Rewards:** PREMIA can also be earned as rewards for liquidity providers (upcoming). ## Looking to the future PREMIA token [recently listed on multichain.xyz](https://twitter.com/PremiaFinance/status/1369104856951164935?ref=dexplain.com) enabling seamless cross-chain swaps between Ethereum and Binance Smart Chain. Soon users will be able to stake PREMIA on BSC, removing any barriers around high network fees reducing participation. Additionally, all the platform’s code on Ethereum will be 100% compatible with BSC as it’s an EVM-based blockchain. Therefore, we expect to see more cross-chain announcements with the release of new features. **AMM & Meta Vaults**: Adequate liquidity is one of the main barriers for DeFi options trading to work seamlessly. Currently, Premia follows a traditional approach with an orderbook. However, this means if there are not enough option writers then traders will not find the options on the marketplace. The team’s answer is to enable users to pool liquidity in vaults to earn yield from trading fees, option premiums, and PREMIA tokens. Essentially, the protocol will start writing options on demand. - Note pooling funds in Premia’s AMM will be a little different than [SushiSwap](https://dexplain.com/tag/sushiswap) or [Uniswap](https://dexplain.com/tag/uniswap), as to earn rewards you will have to lock them for specified periods. This is required due to the nature of options trading’s expiry dates. **Liquidity Mining**: Once the Meta Vaults are live users will be able to start providing liquidity and earning PREMIA tokens as rewards. Furthermore, these new features should be going live during March, so expect to see platform growth explode soon enough. [One to watch](https://twitter.com/PremiaFinance?ref=dexplain.com)! ### Krusty Krab URL: https://dexplain.com/krusty-krab/ Last updated: 2022-11-14T22:06:40.000Z You thought the dreaded USDT drama ruining markets was finally over? Think again! Tether revealed through Twitter that [the company is now being blackmailed](https://twitter.com/Tether%5Fto/status/1366075544287207430?ref=dexplain.com). **Market outlook**: Bitcoin looks pretty [fragile](https://www.tradingview.com/x/RxMFXiS1/?ref=dexplain.com), Ethereum even [more so](https://www.tradingview.com/x/989qi4Jn/?ref=dexplain.com), which is making me think the correction is not yet finished. Still recommend staying on spot, buying dips on assets you can easily move into farms such as DOT, ADA, XVS, BNB for Pancakeswap or RAY, SRM, and SOL for Raydium. ### Where to trade? Here are my favourite crypto exchanges, use the referral link for atleast **a 10% discount** on your trading fees. Don't use random exchanges, hacks are well documented in crypto history! - [Bybit](https://www.bybit.com/en-US/invite?ref=M2YNXG) \- Currently, this is my favourite platform! Great liquidity and bonuses for deposits. - [Delta Exchange](https://www.delta.exchange/app/signup/?code=VVRPEI&ref=dexplain.com) \- Good for a degen account, no KYC required but low liquidity. - [Binance](https://accounts.binance.com/en/register?ref=X8XUVA60) \- Lots and lots of spot altcoin pairs, especially BTC pairs. - [KuCoin](https://www.kucoin.com/ucenter/signup?rcode=r3D6E6L&ref=dexplain.com) \- Great for longer small cap holds. --- ## Crypto News - **Google**: More positive news for adoption, [cryptocurrency data](https://www.nasdaq.com/articles/google-finance-adds-crypto-data-tab-2021-02-28?ref=dexplain.com) has been added to Google Finance’s dashboards. Growing mainstream presence! - **Bitcoin**: Selling pressure might be stopping as [data suggests BTC miners](https://bitcoinist.com/bitcoin-miners-net-position-turn-positive-a-crypto-bull-case/?ref=dexplain.com) are moving back to accumulating. Meanwhile, one whale moved $4,500,000,000 in [a historic transfer](https://dailyhodl.com/2021/03/01/whale-alert-4500000000-in-bitcoin-moved-in-historic-transfer-heres-whos-behind-the-curtain/?ref=dexplain.com). - **Ripple**: It appears the team might be moving to chase some non-fungible token hype from the masses with plans to add support for [NFTs to XRP Ledger](https://twitter.com/WietseWind/status/1365123770101432321?ref=dexplain.com). - **Cardano**: Merchants can now easily start accepting [ADA for Ecommerce through Coti Pay](https://ihodl.com/analytics/2021-02-25/coti-and-cardano-are-advancing-crypto-ecommerce/?ref=dexplain.com). Developers are ready for [Cardano’s mainnet upgrade today](https://www.forbes.com/sites/billybambrough/2021/02/28/ethereum-rival-cardano-is-braced-for-a-big-week-amid-massive-price-rally/?sh=590c1f626f90&ref=dexplain.com) which will introduce stablecoins, tokens, and NFTs. ADA has been soaring the last few weeks, outpacing Bitcoin, and with these updates, it doesn’t look like it will stop any time soon. --- ## DeFi News - **Furucombo**: A hacker was able to exploit the [platform’s proxy contract](https://twitter.com/furucombo/status/1365743632460910593?ref=dexplain.com) and steal roughly $15M in funds. This was possible due to approval calls, you can check your wallet’s risk to this type of hack through [DeBank](https://debank.com/profile/?ref=dexplain.com). Connect your wallet and check the *Approve* tab. - **Yieldwatch**: Announced [an IFO on Pancakeswap](https://twitter.com/PancakeSwap/status/1365965931139141640?s=20&ref=dexplain.com) for WATCH token, holders will get a pro membership for the tool which provides faster response times and more analytics. - **VortexDeFi**: You can now trade [VTX tokens on Uniswap](https://twitter.com/VortexDefi/status/1366002318647250944?ref=dexplain.com), this platform focuses on simplifying DeFi and yield farming for the masses. The project has a lot of big backers behind it like DuckDAO and A195 capital, so might be worth taking a look. - **DuckDAO**: Announced [a partnership with the Polkadot DeFi Alliance](https://twitter.com/dao%5Fduck/status/1365676148068392966?ref=dexplain.com), whose main aim is to push teams towards building more cross-chain decentralized finance products. - **Bundles Finance**: Expect releases during March [with the team stating](https://twitter.com/BundlesFinance/status/1365906150588260352?ref=dexplain.com) NFT staking, cross-chain partners, and prediction pools in the works. - **API3**: Announced [a partnership with Conflux Network](https://medium.com/api3/announcing-the-api3-native-integration-and-partnership-with-conflux-network-50daad145f1?ref=dexplain.com) to provide the platform with reliable decentralized data endpoints. Read our review on [the API3 approach to an oracle network](https://dexplain.com/what-is-api3-token-decentralized-api-network/) here. - **Loopring**: Tokenized Bitcoin holders on Ethereum [can now start pooling their liquidity](https://twitter.com/loopringorg/status/1366109782587944967?ref=dexplain.com) on Layer2 to reduce network fee burdens. Loopring has added various WBTC pairs to its AMM and 6 new pairs on its L2 decentralized exchange. Learn more about LRC’s solution to high gas fees [here](https://dexplain.com/loopring-releases-first-zkrollup-ethereum-smart-wallet/). - **DEGO**: The team announced a [partnership with PhalaNetwork](https://twitter.com/dego%5Ffinance/status/1366207657397260292?s=19&ref=dexplain.com) to build privacy infrastructure on Polkadot’s ecosystem. Find our review of DEGO and its approach to [sustainable yield farming here](https://dexplain.com/what-is-dego-finance-sustainable-liquidity-mining/). - **ArmorFi**: A scammer was able to trick [a team member into giving up 600 ETH](https://twitter.com/ArmorFi/status/1365863250827620352?ref=dexplain.com) worth of ARMOR tokens, which was immediately dumped on the market. - **HedgeTech**: New [vault and launchpad project](https://twitter.com/hedge%5Ftech?ref=dexplain.com) building on Binance Smart Chain, Ethereum, and Polkadot. Aims to protect investors against scam IDOs. Looks very promising and the team is fully transparent/doxxed. - **Value DeFi**: Be sure to check out some of [the farms on Binance Smart Chain](https://bsc.valuedefi.io/?ref=dexplain.com#/vfarm), currently, the vBSWAP/BNB pair is over 2,000% APR. Probably won’t be slept on much longer! --- ## NFT Spotlight Be sure to check the listing to view the digital crypto artwork in its full glory, as some art is animated or contains audio. ![](https://dexplain.com/content/images/2021/12/digital-mountains.webp) **High Mountains Triptych** *Tatra mountains triptych*… - Where to bid? [Opensea](https://opensea.io/assets/0x495f947276749ce646f68ac8c248420045cb7b5e/109613818134675979713068913648009580065972576551344280600736901603990293184513?ref=0x5cE9f7032953d8E3f3D98f508C1b9B489Ee621D). - Artist: [aRRO](https://twitter.com/ArroFineart?ref=dexplain.com). --- ## NFT News - **Aavegotchi**: Launch day is nearly [here](https://twitter.com/aavegotchi/status/1366042456479789062?ref=dexplain.com), within 24 hours the [Aavegotchi game](https://dexplain.com/what-is-aavegotchi-where-nfts-meet-defi/) will be live on Polygon’s L2 Ethereum solution (Matic Network). Be ready! - **Origin Protocol**: Historic moment as [the first tokenized album by 3LAU](https://twitter.com/OriginProtocol/status/1365916413421060096?s=19&ref=dexplain.com) is sold through Dshop, powered by Origin Protocol. In total the sale featured 33 NFTs which went for over $11M. - **Fusible**: An upcoming protocol for price discovery of NFTs will have its [IDO on the DodoEx launchpad](https://fusible.medium.com/nft-protocol-fusible-announces-its-ido-on-leading-liquidity-exchange-dodo-for-5th-march-2021-7a6e2dc48b39?ref=dexplain.com) on the 5th of March. Don’t miss this one! - **Drops**: This project is aiming to change how you hold NFTs, the idea is that you can use them to generate [extra value through staking](https://dropsnft.medium.com/drops-platform-details-and-tokenomics-ffbd47e248d0?ref=dexplain.com). Could be interesting, recommend giving them a follow. - **Atari**: The legendary and gaming giant [Atari announced a partnership with Polygon](https://twitter.com/0xPolygon/status/1365315942226350085?ref=dexplain.com), which will involve creating NFT and token products. Exciting! ### What is SKALE Network? SKL Token Explained URL: https://dexplain.com/what-is-skale-network-skl-token-explained/ Last updated: 2021-12-03T11:23:49.000Z [SKALE Network](https://skale.network/?ref=dexplain.com) is a decentralized elastic blockchain that specifically aims to scale [Ethereum decentralized applications (dApps)](https://dexplain.com/tag/ethereum) for real-world usage. Being elastic means it is highly configurable, keeping the benefits of decentralization while removing development limitations we find on many traditional blockchains. Here we will look at what is SKALE Network, and how SKL token powers the network. ## What is SKALE Network? You should think of SKALE as a layer 2 solution as it exists above the main Ethereum blockchain. However, unlike [Loopring](https://dexplain.com/tag/loopring) it does not implement a [zkRollup approach](https://dexplain.com/loopring-releases-first-zkrollup-ethereum-smart-wallet/) to speed up transactions. Instead, it uses a network of mini-chains, technically known as dynamic shards. These shards can complete token transfers and execute smart contract interactions simultaneously while operating independently from one another. Meaning that no dApp will slow down due to the high usage of another application on the network. The network implements a Delegated Proof-of-Stake (DPoS) consensus algorithm which enables [asynchronous transactions](https://dexplain.com/why-do-so-many-blockchains-rely-on-sharding-for-scalability/), meaning it can theoretically operate as fast as [Elrond](https://dexplain.com/tag/elrond) or [Binance Smart Chain](https://dexplain.com/tag/binance-chain). ## SKL Token Usage SKALE Network is powered by its native SKL token which has the following use cases: - **Staking**: token holders can stake their SKL tokens to participate in consensus. As a result, they receive rewards for improving network security. - **Payments**: developers will need SKL tokens to pay for subscription access to using the elastic blockchain for their applications. - **Governance**: SKALE intends to be community-driven for future development, holders will receive voting power through their tokens. Meaning token holders will be able to vote to adjust economic parameters such as the pricing for subscription fees. ## Looking to the future SKALE Network raised \~22.04M USD over [three rounds of private token sales and one round of public sales](https://skale.network/tokenomics?ref=dexplain.com). Additionally, SKL was recently listed on the [Binance exchange](https://dexplain.com/tag/binance-exchange) which will help the project gain attention quickly. The project has a clear use case, Ethereum network is not scaling well to increased usage. We’re all aware of the high network fees eating away our [DeFi farming](https://dexplain.com/tag/defi) profits. Along with the general slowness making for an unfriendly user experience. To enable developers to run their Ethereum applications with high performance and low costs – it’s easy to understand how the SKALE tech can quickly become adopted. Additionally, the design choice to provide dApps with their mini-chain will look very appealing to teams as it will not sacrifice decentralization. ![](https://dexplain.com/content/images/2021/12/ecosystem-SKALE.webp) That being said the competition is fierce when it comes to building a blockchain capable of scaling to real-world demand. There is even a long list of projects building Layer 2 solutions for Ethereum: [Loopring](https://dexplain.com/loopring-the-solution-to-high-ethereum-gas-fees/), [Polkadot](https://dexplain.com/tag/polkadot), Matic, Plasma, Loom Network… **there is no clear winner**! Though, as we see above, the SKALE ecosystem is ready. ### Secret Network Launches Privacy Enabled Ethereum Bridge URL: https://dexplain.com/secret-network-launches-privacy-enabled-ethereum-bridge/ Last updated: 2021-12-03T11:21:48.000Z Secret Network’s first privacy enabled [Ethereum](https://dexplain.com/tag/ethereum) bridge is now live on mainnet and ready for use. This is a bridge which enables users to create secret versions of ETH and their favourite ERC-20 tokens. ## What are Secret Tokens? You can think of Secret Tokens much like your typical ERC-20s, as in they’re compatible with all the programmability of smart contracts and [DeFi protocols](https://dexplain.com/tag/defi). However, they enable you to transact with them privately much like how a privacy coin such as Monero or Zcash functions. As a result, Secret Token contracts keep all interactions private through encryption. This means that they will only be viewable to address owners or holders of the so called *Viewing key*. These types of tokens follow a new standard called [SNIP-20](https://forum.scrt.network/t/secretscrt-privacy-tokens-are-live-on-mainnet/2222?ref=dexplain.com). Essentially, a privacy token standard inspired by CosmWasm’s CW20 and Ethereum’s ERC-20. ![](https://dexplain.com/content/images/2021/12/secret-bridge.webp) **Bridge Mining:** Currently the privacy enabled Ethereum bridge supports ETH along with numerous DeFi tokens and stablecoins. A liquidity program will go live in January, where users of the bridge who lock up their assets will earn SCRT rewards. - The team is planning to allocate up to 2 million SCRT towards community and liquidity mining rewards. Learn how to use the bridge [following this tutorial](https://scrt.network/blog/secret-ethereum-bridge-is-live-on-mainnet?ref=dexplain.com), so you’re ready to farm rewards immediately. **Secret DeFi:** Secret is a privacy-enabled blockchain with smart contract support. The team has announced future plans include releasing more critical DeFi applications such as an [automated market maker](https://dexplain.com/what-is-mooniswap-the-new-automated-market-maker-by-1inch/). Privacy-enabled [yield farming](https://dexplain.com/tag/yield-farming) on the horizon? ### Waves pushing the limits of Stablecoins with Neutrino and Decentralized Forex URL: https://dexplain.com/waves-pushing-the-limits-of-stablecoins-with-neutrino-and-decentralized-forex/ Last updated: 2021-12-03T11:19:31.000Z Waves founder [Sasha Ivanov](https://twitter.com/sasha35625?ref=dexplain.com) recently spoke to [Forbes in an interview](https://www.forbes.com/sites/tatianakoffman/2020/12/15/waves-trailblazes-the-forex-marketexclusive-interview-with-sasha-ivanov/?sh=606208a1ac09&ref=dexplain.com), outlining how he believes [Neutrino](https://neutrino.at/?ref=dexplain.com) will become the go-to DeFi protocol for issuing [stablecoins](https://dexplain.com/tag/stablecoins). Along with powering all forms of synthetic pegs such as stocks, indices, cryptocurrencies, and Decentralized Forex. > *We foresee Neutrino-based stablecoins as an integral part of people’s day-to-day payment routines, with Decentralized Forex, and a global Neutrino-based stablecoin exchange system, also playing a major role…* Great time to recap the key features of Neutrino issued stablecoins compared to other popular options such as [BUSD](https://dexplain.com/venus-protocol-defi-tutorial-how-to-supply-and-borrow-assets-mint-vai-stablecoin-and-farm-xvs-tokens/) or [DAI](https://dexplain.com/binance-lists-maker-mkr-and-dai-more-defi-tokens-enter-cefi/). And how the protocol enables decentralized forex trading. ## Advantages of Neutrino Stablecoins Neutrino USD is a decentralized and algorithmic stablecoin. Meaning USDN is minted without any involvement with fiat currencies or any traditional finance systems. Firstly, users do not have to trust the issuer has some form of a US dollar reserve in a bank. Secondly, USDN is the first stable crypto asset that is not based on lending. ### How is USDN issued? - The equivalent amount of USDN is issued when a user sends Waves into the Neutrino smart contract. - Waves is a stakeable asset and the Neutrino smart contract will automatically start staking the Waves tokens. - Block rewards are roughly 6% APY on Waves blockchain, which is paid daily. - Neutrino will automatically use the block rewards to mint more USDN. Which it distributes proportionally to all USDN stakers over the past 24 hours. - USDN is also a cross-chain stablecoin, living on [Ethereum](https://dexplain.com/tag/ethereum) and [Binance Smart Chain](https://dexplain.com/tag/binance-chain). As a result, Neutrino’s stablecoins enable high yield which remains stable. It’s APY will not fluctuate largely as seen on [Venus Protocol](https://dexplain.com/tag/venus-portocol). Currently, one of the main use cases is in emerging markets in Africa or Latin America. Because in these regions we find national currencies that face high devaluations. For example, we see NGNN (a peg for Nigerian Naira) is popular on Waves exchange because the in-built yield generation can protect users against inflation. ![](https://dexplain.com/content/images/2021/12/investment-waves.webp) Furthermore, the platform enables diversification into other stablecoins pegged to the US dollar or Euro which are less volatile. This has led to Waves using the Neutrino protocol to launch a Decentralized Forex or DeFo trading. ## Decentralized Forex (DeFo) Neutrino protocol also enables users to trade national currencies on a [decentralized exchange](https://dexplain.com/tag/decentralized-exchange). You can instantly swap to algorithmic stablecoins pegged to popular national currencies such as EURN (Euro), GBPN (UK), CNYN (China), JPYN (Japan), TRYN (Turkey), UAHN (Ukraine) NGNN (Nigeria), BRLN (Brazil), and RUBN (Russia). > Huge thanks to everyone who joined our vote on [#DeFo](https://twitter.com/hashtag/DeFo?src=hash&ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) assets! See the results below. We're launching DeFo next week with CNYN🇨🇳, RUBN🇷🇺, JPYN🇯🇵, UAHN🇺🇦 and EURN🇪🇺 available for trading, staking and instant swaps. [pic.twitter.com/ZLfYmNrVDl](https://t.co/ZLfYmNrVDl?ref=dexplain.com) > > — Neutrino Protocol (@neutrino\_proto) [September 25, 2020](https://twitter.com/neutrino%5Fproto/status/1309470909594587138?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) Each asset is pegged to its fiat equivalent through a secure system of oracles powered by [Band Protocol](https://dexplain.com/what-is-band-protocol-band-token-explained/). Essentially, users have access to Decentralized Forex trading secured by Waves blockchain. By estimates the Forex market exchanges over $5 trillion on a daily basis. As a result, there have been many attempts for cryptocurrency and blockchain to break into this traditional market. But, as of yet we have never seen a clear winner evolve. Will Neutrino be the one to crack Decentralized Forex? Even scooping up a small percentage of this market would be a big win. It’s definitely removing many of the barriers between crypto technologies and people but for the moment trading volume on fiat pairs remain low – time will tell! ### What is API3 Token? Decentralized API Network URL: https://dexplain.com/what-is-api3-token-decentralized-api-network/ Last updated: 2021-12-03T11:09:42.000Z [API3](https://api3.org/?ref=dexplain.com) is a decentralized autonomous organization (DAO) which aims to build and monetize a way for [blockchains](https://dexplain.com/tag/blockchains) to connect with existing data provider APIs. Essentially, the team is taking an alternative approach to the so-called “Oracle problem” as they believe the industry can do better. The project is receiving a lot of attention as it is building a decentralized API (dAPI) network. People often describe it as the *Chainlink Killer*, hence the hype. Here we will review API3 token, along with outlining the platform’s key features and use cases. ## What is API3? To understand what API3 is building, first, we need to define what an API does. API stands for Application Programming Interface, it is a well-documented protocol for Web and mobile applications that enables the transfer of information and services. For example, a cryptocurrency exchange will have an API to provide trading data to websites such as Coingecko or Coinmarketcap. In the online era, many businesses offer their data as a monetizable service that developers can integrate into their applications for a fee. Essentially, this improves software development efficiency as the dev team does not have to build everything themselves. You can look at APIs like the building blocks of the digital world, without them many applications would simply crash. ![](https://dexplain.com/content/images/2021/12/API.webp) However, the problem is that the existing API infrastructure is by no means compatible with dApps and Web 3.0 decentralization. API3 enables data providers to meet the requirements of sourcing data for smart contracts without any third-party intermediaries. This is done through dAPI which is a decentralized blockchain native API network. ## Value Proposition of dAPI Currently, oracle technology functions by providing a middleware solution. For example, [a Chainlink oracle node](https://dexplain.com/understanding-chainlink-in-5-minutes/) sits between the smart contract and the API of some data provider. In the blockchain world, we often champion removing the middleman – so API3 asks why have we replaced it with another middleman? ![](https://dexplain.com/content/images/2021/12/current-oracle-implementation.webp) Often the oracle network is rent-seeking, meaning the cost of everything goes up. Furthermore, it created a situation where the big player Chainlink has a monopoly over data feeds. Plus how can you govern data that the oracles do not own? You can penalize the oracle node, but this does nothing to the data provider. API3 believes the optimal solution is that API providers run their nodes. The [DeFi economy](https://dexplain.com/tag/defi) is growing so rapidly, with sourcing reliable and trustworthy data being an integral part of its growth. As a result, the process must be as transparent as possible. ![](https://dexplain.com/content/images/2021/12/api3-proposition.webp) As a result, this means the oracles would be a **first party oracle** meaning the entity also owns the data and services they provide. Furthermore, this enables a way forward for decentralized curation of data feeds transparently. We would compare API3 approach more to [Tellor](https://dexplain.com/how-does-the-tellor-oracle-work-trb-token-review/) or [Kylin Network](https://dexplain.com/what-is-kylin-network-oracle-network-powered-by-polkadot/) where there is a focus on data sourcing being transparent. ## API3 Token Use Cases API3 intends to be governed by DAO, meaning that all players of its ecosystem will drive future development and secure the network. Once the platform is fully operational the below diagram shows how interactions will work. ![](https://dexplain.com/content/images/2021/12/api-ecosystem.webp) As a result API3 token will have the following use cases: - **Staking:** token holders can stake API3 to earn rewards and participate in on-chain governance. - **Governance:** token holders whose stake will receive voting power within API3 DAO. There is a direct economic incentive for voting, as stakers receive a portion of dAPI revenue and their staked tokens are collateral for on-chain insurance. - **Collateral:** the staking pool will also act as collateral for on-chain insurance. - **Payments:** there will be a subscription fee for dApps using the dAPI network. Additionally, data providers will receive payment in API3 tokens. - **Disputes:** In the case of loss of revenue due to malfunction, downtime, or incorrect data, dApps using will be able to open disputes to raise an insurance claim. The team plans to use Kleros to resolve insurance claims. ## Summary: The Oracle Solution? By removing the middleman from the oracle problem, API3 is lowering the cost of using decentralized data feeds. With the rapid rise of the DeFi economy, [it is estimated the top Chainlink oracle node operators](https://www.theblockcrypto.com/genesis/80692/an-analysis-of-chainlink-node-operator-earnings?ref=dexplain.com) are making at least $160,000 per month. Yet the monthly subscription fees these node operators pay to an API provider are probably in the realm of $100 to $200 per month! So where does this cost inflation come from? More worryingly, it’s highly likely these data providers don’t even know their data is being resold. > The core team (Chainlink) is this sort of centralized black box for the data feeds, deciding unilaterally which nodes get to serve which data feeds and also which APIs those nodes serve data from…Heikki Vänttinen, Co-founder of API3 API3 token enables these data providers to make their services available to smart contracts with no blockchain experience needed. The design will be connectable to any blockchain, meaning dAPIs will be cross-chain data solutions. Additionally, the platform will feature a transparent and open governance model which means users can trust the process from A to Z. To summarize quickly, it’s far too early to say if API3 will be [the oracle coin solution](https://dexplain.com/category/learn-crypto/blockchain-oracles/) that being said, we suggest you watch their releases and announcements closely. ### What is Base Protocol and BASE Token? URL: https://dexplain.com/what-is-base-protocol-and-base-token/ Last updated: 2021-12-03T11:03:26.000Z [Base Protocol](https://www.baseprotocol.org/?ref=dexplain.com) aims to be a crypto industry index, its elastic supply token BASE is pegged to the total market cap of all cryptocurrencies. Here we will look at what is Base Protocol, how the rebasing mechanism works, and explain use cases in [DeFi](https://dexplain.com/category/learn-crypto/decentralized-finance-defi/) for BASE token. ## What is Base Protocol? BASE is a [synthetic asset](https://dexplain.com/perlinx-the-launch-of-the-next-defi-giant/) which aims to peg its price to the total market cap of all cryptocurrencies. Essentially, by holding BASE token you can speculate on the entire crypto industry. As a result, no need to spend hours researching different coins, sign up to various crypto exchanges, and install multiple different wallet software – with BASE you can do all that with just one token. ![](https://dexplain.com/content/images/2021/12/base-token.webp) You could think of it more as buying a tokenized market tracker than buying into a traditional index fund. Historically, we know that index funds have outperformed any form of actively managed mutual funds. This is why we see such interest in bringing them over to cryptocurrency markets: [Axia Protocol](https://dexplain.com/what-is-axia-protocol-decentralized-crypto-index-fund/), [PieDAO](https://dexplain.com/piedao-introduces-dough-liquidity-mining/), or [DEXT](https://dexplain.com/dextf-asset-management-protocol-for-defi/) – just to name a few. BASE allows for experienced crypto traders to instantly diversify and hedge their portfolios. Furthermore, it facilitates onboarding for beginners and retail investors by exposing them to the growth of all the digital assets on the market. Additionally, because BASE leverages the power of [blockchain](https://dexplain.com/tag/blockchain) there are no brokerage charges or entry/exit fees. To summarize, the idea is simple: enable everyone to easily access the benefits of the entire cryptocurrency market. ## How does rebasing work? BASE is what is known as an elastic supply token. Meaning it can dynamically adjust its token supply to keep its price peg intact. The target price is one-trillionth of the total market capitalization of all cryptocurrencies. And the data to determine market cap calculations is securely sourced via a [Chainlink](https://dexplain.com/tag/chainlink) oracle. If the price of BASE is under the target then a contraction rebase will happen. Vice versa, if the price of BASE is above the target then an expansion rebase will happen. - **Construction**: destroys supply to increase scarcity and drive the price up. - **Expansion**: increase supply to decrease scarcity and drive the price down. If you would like to read through the full formula that goes into the market cap target calculations, you can find them in the project’s [litepaper](https://drive.google.com/file/d/1yy2ZySspCxdsqawOTcvgPyuY7fnp%5FhVT/view?usp=sharing&ref=dexplain.com). At a high level, the rebasing mechanism is very similar to [Based Money](https://dexplain.com/what-is-based-money-the-defi-game-of-chicken/) or [Vampire Protocol](https://dexplain.com/what-is-vampire-protocol-gamification-of-a-stablecoin/). ## BASE Token Use Cases I can see what you’re thinking: there is a lot of vaporware and useless projects out there – why expose my portfolio to them? Well, the answer is there is a certain beauty to keeping things simple – especially for crypto novices. It would not be possible to manage a portfolio or crypto industry ETF with thousands of assets. Plus it would face regulation and centralization concerns: who manages which assets are in the index? Which countries can invest in it? With BASE you have a transparent and decentralized solution [that is verifiable by anyone](https://dashboard.baseprotocol.org/?ref=dexplain.com). ![](https://dexplain.com/content/images/2021/12/base-protocol-overview.webp) **Keeping it simple…** Imagine your first investment turned out to be a rug pull, you would probably ditch blockchain entirely. Base Protocol’s mission is very clear: become the primary channel for crypto investing to drive new adoption in the blockchain sector. - Token holders can also participate in the [Cascade liquidity program](https://cascade.baseprotocol.org/?ref=dexplain.com). This is a farming initiative to reward holders who provide liquidity on Uniswap and stake their LP tokens. **Looking to the future:** BASE recently hit over $100M 24h trading volume on Uniswap which indicates traders are happy to speculate in this way. The team is pushing [for further DeFi integrations](https://twitter.com/BaseProtocol/status/1336111022038511618?ref=dexplain.com) such as being listed on lending platforms. Along with [a teaser that their development team](https://medium.com/@BaseProtocol/this-week-in-base-protocol-12-07-5257c7436372?ref=dexplain.com) is planning a Vault product of some sorts. Expect this meteoric rise to continue! ### What is MakersPlace? User Friendly Digital Art Marketplace for NFTs URL: https://dexplain.com/what-is-makersplace-user-friendly-digital-art-marketplace-for-nfts/ Last updated: 2021-12-02T21:21:37.000Z [MakersPlace](https://twitter.com/makersplaceco?ref=dexplain.com) is one of the biggest platforms for minting, buying, and selling digital art on the [Ethereum](https://dexplain.com/tag/ethereum) blockchain. It’s home to some of the most talented artists and is regularly in the Top 3 by sales volume according to [OpenSea rankings](https://opensea.io/rankings?ref=0x5cE9f7032953d8E3f3D98f508C1b9B489Ee621D). Let’s take a look at this user-friendly digital art marketplace for NFTs. ## What is MakersPlace? MakersPlace is a marketplace for sharing and collecting rare digital creations. The platform leverages the power of [non-fungible tokens (NFTs)](https://dexplain.com/tag/non-fungible-tokens) to ensure all artwork is verifiable. Meaning you can confirm at any time who is the creator and current owner of the artwork. It also enables scarcity, because the blockchain secures how many editions the artist releases. If the artist creates one edition of the digital artwork, then it doesn’t matter if the image is copied and shared online. Because only one edition is provable as authentic. In other words, collectors can trust they’re buying original digital creations via MakersPlace that are tamper-proof. ## Another NFT marketplace? I know what you’re thinking. [OpenSea](https://dexplain.com/what-is-opensea-crypto-collectibles-marketplace/), [Rarible](https://dexplain.com/what-is-rarible-solving-the-pains-of-digital-art-with-nfts/), [SuperRare](https://dexplain.com/superrare-has-earned-artists-over-2m-since-launch/), [ArtSync](https://dexplain.com/what-is-async-art-programmable-crypto-art/)… and more! The list does indeed keep going. And it’s becoming hard to pick out which marketplace would suit you, as a collector or creator. However, MakersPlace does have some key features that make it easier for crypto novices. Notably, artists can choose to **accept payments from credit cards**. Of course, the platform does support Ethereum and you can use your crypto wallet. As a result, for new NFT collectors, MakersPlace has a very easy onboarding experience. ![](https://dexplain.com/content/images/2021/12/makersplace.webp) All the technical use of the blockchain happens in the backend which makes buying or selling digital [crypto artwork](https://dexplain.com/tag/crypto-art) extremely easy. You don’t even need a cryptocurrency wallet or any third-party software to use the platform. Just sign up and log in, and you’re ready to explore digital artwork. In the same regard, for creators accepted onto the platform MakersPlace covers the gas fees associated with minting the NFT that secures your artwork. **Fees:** on a successful sale the platform will take a 15% commission, which is in line with other NFT marketplaces. Note there will be an additional transaction fee of 2.9% if the sale happens through a credit card. - For digital creators and artists, the platform is currently invite-only, you can learn more about [joining on their website](https://makersplace.com/creators/?ref=dexplain.com). **Reselling:** one of the best parts about sharing digital artwork through MakersPlace is that creators are guaranteed royalty on resells. Because all ownership is transparently tracked on-chain through the transfer of the NFT linked to your digital creation. For any secondary sale, then there is a 12.5% commission where 2.5% goes to the platform and 10% to the creator. To summarize, MakersPlace is the most user-friendly platform for [crypto-collectibles](https://dexplain.com/tag/collectibles) and should not be overlooked! ### Is Zap Protocol the Ultimate DeFi Developer Toolkit? URL: https://dexplain.com/is-zap-protocol-the-ultimate-defi-developer-toolkit/ Last updated: 2021-12-03T10:08:23.000Z [Zap Protocol](https://zap.org/?ref=dexplain.com) is credited with being the first team to launch a [decentralized oracle platform](https://dexplain.com/tag/oracles) to mainnet on January 1st, 2019\. You can think of Zap as a toolkit for [DeFi](https://dexplain.com/tag/defi) developers which focuses on three main components: Data, Tokens, and Bonding Curves. ## What is Zap Protocol? Though many think of Zap Protocol as an oracle platform such as [Dia](https://dexplain.com/what-is-dia-open-source-oracle-platform/), the platform is much more. At its core, it’s a permissionless protocol that enables anyone to [buy or sell data](https://dexplain.com/tag/decentralized-data), create liquid tokens, and set predefined pricing curves. Along with enabling people to bond and un-bond money to these curves. That’s a lot of powerful features packed into one protocol, let’s just look at some example use cases to understand how a developer could leverage these tools. **Example use cases:** - Monetize API feeds. - Deploy always-liquid tokens that can burn and mint autonomously. - Track a supply chain from A to Z. - Tokenize yourself in seconds. - Tokenize a pro-athletes career. - Launch a crypto collateralized stablecoin token. - Launch a DEX with instant liquidity. - Create an asset that automatically trades on a DEX. - Launch a DAO. - Curation markets. - Invest in oracle feeds that you believe are useful. And more! Essentially, Zap enables developers to quickly deploy applications that combine features from some of the most successful use cases on Ethereum: data, tokenization, and [bonding curves](https://dexplain.com/what-is-curve-finance-and-crv/). Just think of the success you see in Chainlink, [Uniswap](https://dexplain.com/tag/uniswap), or [Curve](https://dexplain.com/tag/curve-finance). ## Zap Oracles It’s becoming more apparent that the sourcing of reliable data to power the DeFi economy will be paramount for future growth. The issue is that most of the data exist outside of the [blockchain](https://dexplain.com/tag/blockchain), and is not accessible to smart contracts. For example, how could decentralized travel insurance calculate payouts if it did not have access to flight or weather information? ![](https://dexplain.com/content/images/2021/12/zap-oracles.webp) Zap Data enables the buying and selling of data in a permissionless environment. However, unlike competitor platforms such as Tellor, oracles built on Zap are also investment vehicles. Meaning you can speculate on the value of the oracle model and its underlying data. The idea is that this design also serves as a reputation and trustworthiness check. Because the *better* oracles will have more money bonded to them, whereas, malicious oracles will quickly drop in price. As a result, users quickly see which oracles are the most useful and reliable. ## Liquid Tokens Tokens on Zap Protocol act a little differently than your average ERC20 Ethereum token. These tokens are **never illiquid** because the token’s supply adjusts dynamically to demand. Essentially, the token is minted and burned automatically as people bond or un-bond to their bonding curves. Furthermore, the tokens are also compatible with existing [decentralized exchanges](https://dexplain.com/tag/decentralized-exchanges) so can be traded outside of Zap Protocol. Which can enable a healthy amount of arbitrage trading through secondary markets. ![](https://dexplain.com/content/images/2021/12/zap-tokens.webp) To summarize quickly, you can tokenize anything and use oracles to track whatever data needed for the pricing feeds. For example, you could instantly launch a [synthetic commodity token](https://dexplain.com/perlinx-the-launch-of-the-next-defi-giant/) that pegs itself to the price of gold. Or tokenize a basket of stocks and real estate simultaneously to launch a diversified index fund. ## Bonding Curves This would be the backbone of the Zap Protocol, given they are what users bond and un-bond money to. All of this process happens on-chain, as a network of smart contracts powers the bonding curve mechanisms. When a user bonds, tokens are minted and the price moves higher up the curve. If a user decides to leave the bond, then the reverse will happen. Tokens will be burnt when exchanged back to ZAP, and the price will go down the curve. ![](https://dexplain.com/content/images/2021/12/bonding-curves.webp) It may be easier to think of this concept as a token-issuing DEX that mints and burns the tokens autonomously as users buy and sell. ## Summary: Eyes on Zap Protocol 2.0? There are a lot of powerful features to leverage in the Zap Protocol, some of which we have highlighted today: - Oracles data feeds in the form of APIs for smart contract use. - Limitless amount of tokenization use cases. - Tokens that auto-adjust supply for constant liquidity. - Bonding and variable pricing to power curation, fair price discovery, reputation, and incentivization. It’s a wonder why it is often overlooked in discussions of technology around Oracle and Data economy for DeFi and Web 3\. Potentially, one reason is the protocol is only developer-friendly and it’s hard to make use of the tech as an average user. We know the demand for crypto index funds is here, just look at [PieDAO](https://dexplain.com/piedao-introduces-dough-liquidity-mining/), [Balancer](https://dexplain.com/start-balancer-liquidity-mining-to-earn-bal-tokens/), or [Axia](https://dexplain.com/what-is-axia-protocol-decentralized-crypto-index-fund/). **Another use case that Zap Protocol could power in minutes**. However, industry leaders are taking notice of the tech, as seen by [Coingecko](https://www.coingecko.com/en?ref=dexplain.com) using Zap to curate and monetize their data feeds. > [@ZapProtocol](https://twitter.com/ZapProtocol?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) is excited to partner with [@coingecko](https://twitter.com/coingecko?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com), a leader in providing crypto-specific market data & analysis. > > Our innovative and decentralized bonding curve technology will be used to curate high-quality data feeds for users of their platform.[https://t.co/M0YYCHkjtw](https://t.co/M0YYCHkjtw?ref=dexplain.com) > > — Zap.org (@ZapProtocol) [March 9, 2020](https://twitter.com/ZapProtocol/status/1237076307428737034?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) To summarize, we would watch out for [the release of Zap Protocol 2.0 closely](https://medium.com/the-zap-project/zap-november-update-2020-e64fbba4950e?ref=dexplain.com). This is a major upgrade milestone that will improve the portal’s UI massively, including drag and drop features for launching bonding curves. Breaking down barriers to using Zap’s repertoire of tools is how the protocol will grow! ### Loopring releases first zkRollup Ethereum smart wallet URL: https://dexplain.com/loopring-releases-first-zkrollup-ethereum-smart-wallet/ Last updated: 2021-12-02T21:11:28.000Z [Loopring Wallet](https://loopring.io/?ref=dexplain.com#/) is the first [Ethereum](https://dexplain.com/tag/ethereum) smart wallet that features zkRollup layer 2 scaling built-in. Meaning users can send ETH blazing fast without having to deal with massive network fees. Furthermore, you can access [Loopring](https://dexplain.com/tag/Loopring) Exchange to trade with no delays and no gas! ## What is Loopring Wallet? Anyone heavily using the Ethereum ecosystem as a [DeFi](https://dexplain.com/tag/defi) enthusiast will undoubtedly have come against the barriers of high network fees. It’s a problem that’s been plaguing the network for many months now, pushing [smaller farmers](https://dexplain.com/tag/yield-farming) completely out of the picture. For example, you can’t earn rewards if your funds don’t generate enough returns to cover the gas fees. Essentially, all your strategy if it’s trading on [Uniswap](https://dexplain.com/tag/uniswap) or farming the latest DeFi protocol has to include calculations for network fees. ![](https://dexplain.com/content/images/2021/12/loopring-wallet.webp) Loopring is a layer 2 solution that solves this problem with [zkRollups as a scalability boost](https://dexplain.com/loopring-the-solution-to-high-ethereum-gas-fees/). The main benefit of this tech is enabling up to 1000x greater throughput at 1000x lower fees. Furthermore, it keeps all the same security guarantees in place as if on Ethereum mainnet. **CEX Withdrawal Mining:** there is **a daily rewards pool of 33,333 LRC** going active between 27th November to December 26th. This will be shared between users who keep over 100 USD balance on their Loopring Wallet**.** - Note Loopring works differently than sending transactions on the mainnet, you can’t use it to send transfers for free to any wallet address. All users must first register their wallet address on the L2 to use the zkRollup Ethereum smart wallet. **Loopring AMM:** excitingly the team is also very close to releasing v3.6 which will feature [their version of a Layer 2 automated market maker](https://medium.com/loopring-protocol/loopring-3-6-bug-bounty-a4843343910b?ref=dexplain.com). Given the high fees traders face to confirm swaps via Uniswap, we could see Loopring’s AMM becoming highly popular. Good news for LRC holders! ### What is Kylin Network? Oracle Network powered by Polkadot URL: https://dexplain.com/what-is-kylin-network-oracle-network-powered-by-polkadot/ Last updated: 2021-12-02T21:13:12.000Z [Kylin Network](https://kylin.network/?ref=dexplain.com) is building a cross chain decentralized [oracle](https://dexplain.com/tag/oracles) network on [Polkadot](https://dexplain.com/tag/polkadot). The platform provides data infrastructure for the [DeFi](https://dexplain.com/tag/defi) economy, powered by its native KYL token. ## What is Kylin Network? Kylin Network provides any application, blockchain or parachain access to external data. It allows [dApp builders](https://dexplain.com/tag/dapps) to find data such as pricing feeds for [Bitcoin](https://dexplain.com/tag/bitcoin) or USD, stock markets, or weather predictions. Essentially, the platform enables smart contracts to query an API to find data that does not live natively on chain. This is an integral part of the growing DeFi economy, as the [yield farming](https://dexplain.com/tag/yield-farming) projects needs reliable and valid data sources to operate. However, as oracles are third party services they can also become the single point of failure for a supposedly decentralized application. Furthermore, builders are often put off by the high cost of using a decentralized oracle service. While the statement that your application uses a decentralized data source for pricing feeds sounds great. In reality, the high cost of its usage may vastly outweigh any benefit by being unsustainable. ![](https://dexplain.com/content/images/2021/12/kylin-image-one.webp) Kylin Network aims to solve the “Oracle Problem” by leveraging the power of Polkadot to build a data economy. ## Kylin Network Data Economy It may be easier to think of Kylin Network as a data provider such as [Ocean Protocol](https://dexplain.com/tag/ocean-protocol) or [SingularityNET](https://dexplain.com/what-is-singularitynet-agi-token-review/), and not just an oracle solution such as [Dia](https://dexplain.com/what-is-dia-open-source-oracle-platform/) or [Tellor](https://dexplain.com/how-does-the-tellor-oracle-work-trb-token-review/). There are four major components which form the platform’s data economy. - **Analytics**: these tools aim to automatically present data in a way that can improve an application’s efficiency. A query engine for the public and API access for developers, designed for data warehouses. - **Data Oracle**: the must have for any web 3.0 data economy, a decentralized data feeding protocol powered by Polkadot. Using a network of data providers, oracle nodes, and arbitration nodes, it ensures data sourcing remains decentralized. The end result is access to multiple real-time data sources in a practical and cost effective manner. - **Marketplace**: an open platform for pricing and trading data, ensuring that Dapps will have access to a full range of off-chain and on-chain data at competitive prices. - **Kylin Token**: the on-chain governance KYL token ensures the platform will remain decentralized as it develops. KYL token is also a requirement (through staking) for operating an Oracle Node or for opening a dispute. Additionally, KYL will be used for payment to access private data APIs. To summarize, Kylin Network aims to build a data infrastructure that fits the growing demands from DeFi and Web 3.0 products. ![](https://dexplain.com/content/images/2021/12/oracle-tech.webp) Furthermore, the platform is leveraging Polkadot’s native [cross chain interoperability and scalability](https://dexplain.com/what-is-darwinia-network-cross-chain-transfers-made-easy/) to support multiple networks at low cost. For example, Kylin Oracle will face no issues supporting use cases such as a decentralized insurance platform, [DeFi lending platforms](https://dexplain.com/what-is-truefi-uncollateralized-lending-is-here/), [cross-chain DEX](https://dexplain.com/will-polkastarter-be-bigger-than-uniswap/), [stablecoins](https://dexplain.com/tag/stablecoins), and [blockchain games](https://dexplain.com/tag/crypto-gaming). According to their roadmap, the **Mainnet Test Version** will release during 2021 Q1 – that will be a major milestone to watch! ### What is Async Art? Programmable Crypto Art URL: https://dexplain.com/what-is-async-art-programmable-crypto-art/ Last updated: 2022-08-25T16:56:44.000Z [Async Art](https://async.art/?ref=dexplain.com) is a [non-fungible token (NFT)](https://dexplain.com/tag/non-fungible-tokens) platform that enables artists to tokenize programmable digital art into layers. Instead of the [crypto art](https://dexplain.com/tag/crypto-art) being one single image minted as one smart contract, artwork on Async Art should be seen as a package of assets. [![](https://dexplain.com/content/images/2022/08/bybit-mid-banner-4.png)](https://www.bybit.com/en-US/invite?ref=M2YNXG) Trade NFTs on ByBit! ## What is Async Art? There are two parts to understanding artwork created on Async Art: **Masters** and **Layers**. You can think of “Masters” as the complete crypto art piece. Whereas, “Layers” are the individual parts that form the Master image. Now here is where it gets interesting: everything is [tokenized](https://dexplain.com/tag/defi) separately. Meaning all parts of the artwork can be owned by different people! ![](https://dexplain.com/content/images/2021/12/async-art.webp) Furthermore, owning a Layer means you have control over your artist’s work as Layers have special abilities decided by the artist. For example, you may be able to change the color, opacity, scale, rotation, and more. And as you may have guessed, when you change something on a layer, the Master image updates no matter who owns it. ## How does it work? There are two token types, Master tokens for proving ownership of the entire artwork and Layers decide how the final image should generate. Essentially, when an artist creates programmable art they deploy a set of instructions on-chain. These instructions control how crypto art or [collectible](https://dexplain.com/tag/collectibles) will render. Furthermore, as the instructions live in the form of smart contracts on [Ethereum](https://dexplain.com/tag/ethereum) they are immutable and tamper-proof. > 🔥New sales record🔥 > > "EthBoy" by [@trevorjonesart](https://twitter.com/trevorjonesart?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) & [@money\_alotta](https://twitter.com/money%5Falotta?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) sold for 260ETH ($140K+) to [@MaxStealth5](https://twitter.com/MaxStealth5?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com)! > > This is the highest USD value for a single [#AsyncArt](https://twitter.com/hashtag/AsyncArt?src=hash&ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) we've seen! Artists made over 297 ETH ($165K+) at this past weekend's auctions 🥳. [#ProgrammableArt](https://twitter.com/hashtag/ProgrammableArt?src=hash&ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) [#NFTs](https://twitter.com/hashtag/NFTs?src=hash&ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) [pic.twitter.com/XDBHaWsvoO](https://t.co/XDBHaWsvoO?ref=dexplain.com) > > — Async Art (@AsyncArt) [November 21, 2020](https://twitter.com/AsyncArt/status/1330266852996550658?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) - Recently the platform saw its USD sales record broken with “[Eth Boy](https://async.art/art/master/0xb6dae651468e9593e4581705a09c10a76ac1e0c8-807?ref=dexplain.com)” a collaboration piece created by [TrevorJonesArt](https://twitter.com/trevorjonesart?ref=dexplain.com) and [Money\_alotta](https://twitter.com/money%5Falotta?ref=dexplain.com). ## Rise of Autonomous Artwork The end result is rare artwork that can evolve dynamically over time with multiple owners. Additionally, the artworks can have pre-defined state changes. Known as **Autonomous Artwork** where the Layers can periodically update by a server. For example, the color of the piece could turn red if the price of Ethereum drops by 50%. Or the visuals could change depending on if it’s night or day. ![](https://dexplain.com/content/images/2021/12/day-night-art-piece.webp) This is a whole new realm of crypto art that was not possible with traditional NFT platforms such as [Rarible](https://dexplain.com/what-is-rarible-solving-the-pains-of-digital-art-with-nfts/) or [SuperRare](https://dexplain.com/superrare-has-earned-artists-over-2m-since-launch/). As the team likes to say: *Art has become programmable, and it’s limited only by your imagination*… ### Venus Protocol DeFi Tutorial: How to Supply and Borrow Assets, mint VAI stablecoin, and farm XVS tokens URL: https://dexplain.com/venus-protocol-defi-tutorial-how-to-supply-and-borrow-assets-mint-vai-stablecoin-and-farm-xvs-tokens/ Last updated: 2022-11-14T22:10:34.000Z [Venus Protocol](https://dexplain.com/tag/venus-protocol) is a decentralized lending platform that lives on the [Binance Smart Chain](https://dexplain.com/tag/binance-chain). At its core Venus is a money market protocol, enabling lenders to provide loans and borrowers to take out loans. In this guide we will go through how to supply and borrow assets to earn interest on your crypto. How to mint and repay VAI [stablecoin](https://dexplain.com/tag/stablecoin). Along with learning how to farm [XVS](https://dexplain.com/what-is-venus-xvs-defi-platform-on-binance-smart-chain/) tokens. A complete Venus Protocol DeFi tutorial! ## How does Venus work? You can think of Venus Protocol working similar to a bank. You can deposit various [cryptocurrencies](https://dexplain.com/tag/cryptocurrency) to earn annual interest on your deposits. Much like how you earn interest when depositing money into a savings account with a traditional bank. However, the key difference is that Venus Protocol never has custody over your cryptocurrency deposits. Essentially, you’re interacting with a smart contract and not with a company or person. This part is important to understand as it means that no central authority can take your funds. Venus Protocol leverages [audited smart contracts](https://github.com/SwipeWallet/Venus-Protocol?ref=dexplain.com) for all lending and borrowing of popular cryptocurrencies. As a result, you do not have a Venus login, but use a wallet with web3 support such as MetaMask, Trust Wallet, or Binance Chain Wallet. Since Venus Protocol is a [DeFi platform](https://dexplain.com/tag/defi), it doesn’t have to follow any restricting rules that are found in a traditional lending environment. Venus Markets are always on, meaning you can lend or borrow crypto assets in seconds without any intervention or permission from the company itself. Furthermore, you will find that the interest rates are usually higher than any savings account. Because APR is bolstered by [farming](https://dexplain.com/tag/yield-farming) the platform’s native governance token XVS. The [platform distributes XVS tokens](https://dexplain.com/venus-protocol-launches-to-mainnet-with-xvs-farming/) to users supplying liquidity, borrowing assets, or minting VAI stablecoins. To summarize quickly, you can get paid for taking out a loan! [![](https://dexplain.com/content/images/2022/08/bybit-mid-banner-3.png)](https://www.bybit.com/en-US/invite?ref=M2YNXG) In this guide, we will focus on using the platform to earn interest and borrow Binance Smart Chain assets. If you’re looking for a more technical understanding of what’s happening under the hood, check out [Venus Protocol’s whitepaper](https://venus.io/Whitepaper.pdf?ref=dexplain.com). ## Getting Started In this tutorial, we will focus on using MetaMask as Venus currently does not support any other wallets. ### Creating a Wallet - If you don’t have MetaMask installed you can [download it here](https://metamask.io/download.html?ref=dexplain.com). Note this tutorial is for the desktop extension version. - Once installed, open the app and click ****Get Started** and then ****Create a Wallet**. - Set a password of at least 8 characters. ![](https://dexplain.com/content/images/2021/11/image-46.png) - Now for the ****important** part, MetaMask will display your secret backup phrase. This is your 12-word seed phrase and you need to save it. Without your backup phrase, you may lose your wallet and funds forever. - Your wallet is now created, but by default, MetaMask will connect to [Ethereum](https://dexplain.com/tag/ethereum). ### Adding Binance Smart Chain - First, click on ****Settings** and then ****Add a new network**. ![](https://dexplain.com/content/images/2021/11/image-47.png) You need to fill in the fields with the following: - Network Name: Binance Smart Chain - New RPC Url: [https://bsc-dataseed.binance.org/](https://bsc-dataseed.binance.org/?ref=dexplain.com) - ChainID: 56 - Symbol: BNB - Block Explorer: [https://bscscan.com](https://bscscan.com/?ref=dexplain.com) Once you click ****Save**, MetaMask should automatically connect to BSC. ### Connect your Wallet - Open the [website](https://app.venus.io/dashboard?ref=dexplain.com), the interface should automatically pop up and ask you to connect your Web3 wallet. Currently, we have to use MetaMask but once WalletConnect is available you can use other wallets such as Trust Wallet. - Wallets secure the private keys to your crypto, which lets you authorize transactions, view balances, along with performing other essential actions on the Binance Smart Chain. ![](https://dexplain.com/content/images/2021/11/image-48.png) When you first visit Venus app, a pop-up will ask you to connect your Web3 wallet. ### The Venus Interface - After connecting your wallet, you will be able to access all the features of the interface. On the bottom right you will find the ****Supply** and ****Borrow** markets, along with minting VAI under their respective tabs. At the top right, you will find your ****Supply Information** which will show your current APY. - On the left, you will see your ****Credit Limit** where you can manage your borrowing to avoid liquidation. Lastly, at the bottom left you can find a dashboard to display more details about each money market. ![](https://dexplain.com/content/images/2021/11/image-49.png) The Venus interface will give you a complete overview of available markets and summarize your wallet information. ### Supply Assets to Earn Interest - To begin the deposit process, click on an asset in the Supply markets on the bottom right. In this example we will use ****BUSD**, a new box will open once you click on the market. - First, you will need to ****enable** the asset you wish to supply. This will ask you to confirm a transaction with your wallet, there will be a small gas fee, so you will need some ****BNB** in your wallet also. ![](https://dexplain.com/content/images/2021/11/image-50.png) To supply an asset you first have to enable it. - Once the transaction has been confirmed, you can move on to setting the amount you would like to Supply. Assets are supplied directly from your wallet into Venus Protocol, and will immediately start earning interest. - You will not see any incoming transactions as interest accrues directly to your ****Supply Balance**. Meaning you will see your balance slowly increase over time. - Remember you always have control over your assets. You can ****withdraw** any portion of your balance to your Binance Smart Chain wallet at any time. ![](https://dexplain.com/content/images/2021/11/image-51.png) Once you click Supply, and sign the transaction, then you’re earning interest on your crypto. ### Manage your Borrowing Limit Venus Protocol calculates how much you can borrow depending on the amount you’ve supplied as collateral. You control which assets can be used as collateral, which allows you to increase your ****Borrow Limit**. - An asset’s ****Collateral Factor** determines the proportion of its value that can be borrowed. For example, if you’ve supplied $50 of BUSD, which has a collateral factor of 60% then your ****Borrow Limit** will increase by $30. - You can use the toggle on the right of the asset to enable or disable its use as collateral. Every time you click the toggle, you will need to confirm the transaction with your wallet. - Bear in mind that if you ****disable an asset** as collateral then your Borrow Limit will immediately decrease. ![](https://dexplain.com/content/images/2021/11/image-52.png) ### Borrowing Assets You can borrow assets instantly for any duration. Furthermore, the loan will transfer from the protocol directly into your wallet. - To start the process, you need to open the Borrow Markets tab and ****click on an asset** you wish to borrow. Note that you cannot borrow an asset that you’re supplying as collateral. - Set the amount of the asset you’d like to Borrow, then submit the transaction and sign with your wallet. - You can use the ****Safe Max** button to borrow up to 40% of your Borrow Limit. - Use the ****Repay Borrow** tab to pay back any amount of your loan, at any time. This allows you to easily manage your borrowing to avoid any liquidation scenario. Remember when borrowing assets, you will also be accruing interest that will need to be paid. ![](https://dexplain.com/content/images/2021/11/image-53.png) Once you have supplied assets as collateral then you can borrow other assets instantly. ### Minting VAI Stablecoin Venus Protocol also enables you to mint a synthetic stablecoin VAI, much like borrowing the amount you can mint depending on your supplied collateral. - To start the process, you need to open the ****Mint / Repay VAI** tab. - Set the amount you would like to mint, again you can use the Safe Max button to conveniently set 40% of your Borrow Limit. ![](https://dexplain.com/content/images/2021/11/image-54.png) Mint VAI stablecoin - To repay your VAI loan, you will first need to ****Enable** this asset with the protocol. You may want to do this straight away, to ensure you can repay the loan quickly if required. - When you’re ready to repay your loan, set the amount, and click ****Repay VAI**. At the moment, minting VAI is interest-free though that will change in the future. ![](https://dexplain.com/content/images/2021/11/image-55.png) ### Farming XVS tokens Venus Protocol distributes its governance token as rewards for usage. Distribution APYs are dynamic as they attempt to incentivize deposits and borrows in a way to keep the protocol secure. - Use the ****Vote** tab on the left to open the governance dashboard. This is where you can monitor your XVS farming, and claim any rewards. - Click on the ****Collect** button next to your Venus Earned balance. Once the transaction is confirmed the XVS tokens will be in your wallet. - An easy strategy to **compound* your rewards would be to immediately supply your rewards to the XVS Supply Market. ![](https://dexplain.com/content/images/2021/11/image-56.png) ## Example Borrowing and Minting VAI Use Cases - ***Alice wants to increase her long exposure to SXP.*She supplies 5,000 [SXP](https://dexplain.com/tag/swipe-wallet) to Venus, which she uses as collateral to borrow 60 BNB. Alice then swaps 60 BNB via Pancakeswap to buy 1,900 more SXP. Alice now has long exposure to 6,900 SXP, and owes Venus 60 BNB. As a result, she is long SXP/BNB meaning she believes SXP/BNB will increase in value. That will allow her to buy back the 60 BNB owed for ****less** than 1,900 SXP. Meaning she can repay her debt and keep the extra SXP as profit. - ***Bob wants short exposure to SXP** ***.*** He supplies 200 BNB to Venus as collateral, which let’s him safely borrow 2,300 SXP. Bob immediately swaps the SXP for 70 BNB, he now has a long exposure to 270 BNB and owes Venus 2,300 SXP. Meaning he is short SXP/BNB. If SXP/BNB decreases in value then Bob can buy back the 2,300 SXP owed for ****less** than 70 BNB. As a result, he can repay his debt, and keep the excess BNB as profit. - ***Charlie wants to increase his DeFi farming operation** ***.*** He supplies 1,000 USDC as collateral which means he can safely borrow $400\. Charlie borrows 200 BUSD and mints 200 VAI. Which enables him to provide liquidity to the VAI-BUSD pair on [Pancakeswap](https://dexplain.com/farming-on-binance-smart-chain-with-pancakeswap/), and stake his LP tokens to farm CAKE. He is now earning interest on his initial deposit into Venus and earning trading fees from swaps going through the VAI-BUSD pool. Furthermore, he is also XVS and CAKE tokens! ## **Liquidation** If your ****Borrow Balance** is greater than your ****Borrow Limit**, then your account could be partially or fully liquidated. Remember this can occur if your collateral loses value, or if your borrowed assets increase in value. ![](https://dexplain.com/content/images/2021/11/image-57.png) You will notice as your borrow, mint VAI, or your collateral value changes, that your ****Credit Limit** will update automatically on the dashboard. Monitor your borrowing carefully! ## vTokens vTokens are a tokenized representation of your supplied balance on Venus Protocol. Each vToken has a unique BEP20 address, which you can view on Binance Smart Chain explorers such as [bscscan](https://bscscan.com/?ref=dexplain.com). When you supply an asset to Venus, you will receive the equivalent amount of vToken in return. Because interest accrues by the block, it wouldn’t make much sense to constantly distribute payouts. Essentially, vTokens allow users to accumulate interest without needing to have the amount paid out every block. It works by the underlying assets representing one vToken gradually increasing over time, depending on the market’s Supply APR. ****For example**: - Assuming a vBUSD/BUSD rate of 0.0204, if you supply 1000 BUSD to Venus then you would receive \~49019 vBUSD in return (1000 / 0.0204). - Let’s say one year later, the vBUSD/BUSD rate has gone up to 0.0215\. That would mean your 49019 vBUSD is now worth 1021.5 BUSD (1000 \* 0.0215) – an increase of 21.5 BUSD. One of the benefits of vTokens is that they are transferable and continue to earn interest regardless of where they are held. However, remember that vTokens determine the Borrow Limit of the wallet they reside in. Meaning a transfer of vTokens could lead to liquidation scenarios. We expect to see more use cases for vTokens as the Binance Smart Chain ecosystem grows. Be sure to read through my thoughts on best platforms for crypto spot and futures trading. [Crypto Exchanges: Where To Sign Up?Which cryptocurrency exchange should I use? List of best platforms for trading crypto on spot or futures: Bybit, Delta, Binance, and KuCoin.![](https://dexplain.com/content/images/size/w256h256/2021/12/dexplain-brain-2-1.png)Decentralized Explained | dExplainmf\_reason![](https://images.unsplash.com/photo-1640340434855-6084b1f4901c?crop=entropy&cs=tinysrgb&fit=max&fm=jpg&ixid=MnwxMTc3M3wwfDF8c2VhcmNofDUyfHxleGNoYW5nZXN8ZW58MHx8fHwxNjQyNjEyNTA2&ixlib=rb-1.2.1&q=80&w=2000)](https://dexplain.com/crypto-exchanges-where-to-sign-up/) That’s all you need to know for now! We will continue to update this guide as more Venus Protocol features go live. ### 10 Reasons ALPHA Token will be a DeFi Juggernaut in 2021 URL: https://dexplain.com/10-reasons-alpha-token-will-be-a-defi-juggernaut-in-2021/ Last updated: 2026-07-17T16:29:07.000Z > **Editor's note (2026 update):** We wrote this at the peak of the 2021 bull market. It did not age well — and that's the point. For an honest look at what actually happened to Alpha Finance, the exploit, the rebrand to Stella, and why token predictions like these rarely hold up, see our retrospective: [What Happened to Alpha Finance and the ALPHA Token?](https://dexplain.com/what-happened-to-alpha-finance-alpha-token/) [Alpha Finance](https://dexplain.com/tag/alpha-finance) recently released a sneak peek of their upcoming AlphaX platform. This will be a decentralized, non-orderbook perpetual swap trading market. Traders will be able to take out leveraged long or short positions with no custodial risks or KYC requirements. Much like their [Alpha Homora yield farming product](https://dexplain.com/what-is-alpha-homora-leveraged-yield-farming/), AlphaX is available to everyone and 100% permissionless. Furthermore, the two products will complement each other closely and share ALPHA token for governance purposes. For example, Alpha Homora users can hedge their leveraged farming positions via AlphaX. ![](https://dexplain.com/content/images/2021/12/alphaX.webp) It is becoming more apparent that as Alpha Finance releases more products, they will form a juggernaut DeFi suite for trading and [yield generation](https://dexplain.com/tag/yield-farming). As a result, ALPHA token holders stand to benefit as the governance token will capture the value of the whole ecosystem. Let’s take a quick recap on upcoming features to both [DeFi protocols](https://dexplain.com/tag/defi), along with ALPHA’s recent milestones. ## 10 Reasons ALPHA Token will be a DeFi Juggernaut in 2021 Here are 10 reasons we believe Alpha Finance is an upcoming juggernaut DeFi ecosystem for 2021\. The focus is on the release of AlphaX and Alpha Homora V2, powered by its governance ALPHA token. ### **AlphaX** - **Baked In Funding Rates**: to trade a perpetual swap on [Binance](https://dexplain.com/tag/binance-exchange), for example, users need to understand how funding rates work. Because its how the exchange calculates the interest rate and the premium. AlphaX will bake this into the spot price, so a user’s trading strategy can just be about their entry and exit price. - **Tokenized Positions**: opening a long or short position will be tokenized, meaning they will integrate easily into other DeFi protocols (think Alpha Homora). It will be possible to trade, stake, or use them as collateral. - **Dynamic K**: Perpetual swap markets can suffer if the slippage is too high or even too low. Given AlphaX follows [Uniswap’s non-orderbook model](https://dexplain.com/tag/uniswap): x\*y=k. AlphaX will adjust k algorithmically at a smart contract level, to give traders the best possible experience at all times. ### **Alpha Homora V2** - **More Assets and More Pools**: users will be able to lend and borrow against multiple assets, meaning much higher leverage for stablecoin farming. There will also be more pools instead of just Uniswap, such as [Curve](https://dexplain.com/what-is-curve-finance-and-crv/) or [Balancer](https://dexplain.com/start-balancer-liquidity-mining-to-earn-bal-tokens/). - **Increased Flexibility**: Users will be able to choose if they would like to keep the rewards tokens (think [CRV](https://dexplain.com/tag/curve-finance), [SUSHI](https://dexplain.com/tag/sushiswap), or [BAL](https://dexplain.com/tag/balancer)) instead of [immediately](https://dexplain.com/uniswap-uni-token-farming-nears-end-where-to-next/) [dumping](https://dexplain.com/uniswap-uni-token-farming-nears-end-where-to-next/) them onto the market. Additionally, users will be able to start farming with their own LP tokens. - **Native flash loan support**: this will enable even more interoperability between multiple DeFi protocols. As a result, Alpha Finance’s ecosystem will leverage the success of other protocols. ### **Ecosystem** - **Over 120M TVL**: According to defipulse, Alpha Homora ranks 17th by TVL. This will only increase with more product releases. - **Partnerships:** Recently the team announced a partnership with [SCB10X](https://blog.alphafinance.io/alpha-partners-with-scb10x/?ref=dexplain.com), the largest commercial bank in Thailand. This will provide expertise from a traditional banking angle, plus a potential easy onboarding route for retail investors. - **Collaboration with AAVE**: the integration of [Alpha Homora and AAVE](https://homora.alphafinance.io/aave?ref=dexplain.com) provides the best lending rates available on ETH with the interest-bearing ETH (ibETH). - **Nipun**: the team’s Lead Blockchain Engineer [Nipun Pitimanaaree](https://twitter.com/nipun%5Fpit?ref=dexplain.com) is [4th in the international mathematics hall of fame](https://www.imo-official.org/hall.aspx?ref=dexplain.com). More importantly, he demonstrates a rich understanding of [flashloans and their attack vectors](https://twitter.com/nipun%5Fpit/status/1339899992253714435?ref=dexplain.com). Flashloans have been the downfall to numerous DeFi protocols. As a result, understanding their ins and outs as a developer is crucial. ## Summary With [Alpha Homora v2 currently going through an audit](https://twitter.com/Quantstamp/status/1339645797462241281?ref=dexplain.com) from Quanstamp. Along with AlphaX already going through its [initial beta tes](https://blog.alphafinance.io/inside-alphax/?ref=dexplain.com)[t](https://blog.alphafinance.io/inside-alphax/?ref=dexplain.com)[ing phase](https://blog.alphafinance.io/inside-alphax/?ref=dexplain.com) – there is a lot to look forward to in 2021\. Of course, we can’t know for certain that these new products will be successful. However, the team appears to be doing everything right to attract users and make onboarding easy. Therefore, there is no reason to think why Alpha Finance cannot carve out a big chunk of the growing DeFi economy. And that will translate into increasing the demand for ALPHA token as we move into 2021! ### Kleros hands over Governance: True Decentralized Justice URL: https://dexplain.com/kleros-hands-over-governance-true-decentralized-justice/ Last updated: 2021-12-03T11:58:49.000Z [Kleros Protocol](http://kleros.io/?ref=dexplain.com) governance recently became fully decentralized. Moving forward all core smart contract changes will need to be voted on and executed by the community. As the team puts it: **Welcome to the era of FULLY decentralized justice**. It works by handing the control over to the [Kleros Governor](https://etherscan.io/address/0xe5bcEa6F87aAEe4a81f64dfDB4d30d400e0e5cf4?ref=dexplain.com#code). A smart contract that powers the protocol’s on chain governance for core parameter changes. The transition means the protocol’s governance is now fully autonomous. Essentially, once a proposal passes a vote then the Kleros Governor smart contract will execute it automatically. As a result, the dispute protocol’s future is now fully driven by community members and PNK token holders. ![](https://dexplain.com/content/images/2021/12/kleros-snapshot.webp) Beforehand, Kleros relied on Aragon Governance to vote on proposals which meant that the community then had to trust the development team to implement the outcome. Furthermore, the transition supports using Snapshot for proposal votes. Snapshot enables [gasless voting](https://dexplain.com/node-runners-plans-gasless-nft-gaming-via-matic-network/) which ensures there are no barriers for community participation. ## What is Kleros? Kleros (PNK) is an open source online dispute protocol, it leverages [blockchain technology](https://dexplain.com/tag/blockchain) and game theory mechanics to fairly resolve disputes. The idea is that the rise of the digital economy and era of the world being on the internet has created a new digital realm. However, Kleros believes existing geopolitical jurisdictions are not ready to deal with this new digital realm. At a high level, Kleros uses crowdsourcing to settle disputes in a quick and cost efficient manner. Meaning the protocol will connect users who need a dispute settled with a pool of jurors. As a result, the protocol’s native PNK token provides an economic incentive for jurors to act honestly. Additionally, as Kleros’ tech can integrate seamlessly into smart contracts many believe it will become the goto dispute resolution protocol of the [DeFi economy](https://dexplain.com/tag/defi). ### What is Frontier? A Chain-Agnostic DeFi Aggregation Platform URL: https://dexplain.com/what-is-frontier-a-chain-agnostic-defi-aggregation-platform/ Last updated: 2022-01-03T16:56:43.000Z [Frontier](https://frontier.xyz/?ref=dexplain.com) is a chain agnostic DeFi aggregation layer, meaning it can interact with apps across several networks. Users can access and monitor their [DeFi strategies](https://dexplain.com/tag/yield-farming) across multiple [blockchains](https://dexplain.com/tag/blockchains) while earning rewards in FRONT tokens. ## What is Frontier? You can compare Frontier to a [Decentralized Finance (DeFi](https://dexplain.com/tag/defi)) aggregation platform such as [Zapper](https://zapper.fi/?ref=dexplain.com), however, it supports more than just [Ethereum](https://dexplain.com/tag/ethereum). Currently, the DeFi economy is growing rapidly but it is fragmented across multiple networks. Meaning users are often isolated to using a handful of products despite decentralization. Or locked into one DeFi product because of their wallet choice. ![](https://dexplain.com/content/images/2021/12/frontier.webp) With Frontier, these barriers will break down through aggregation. Users can track their investments, manage to stake, execute token swaps, provide liquidity, access lending protocols, and much more. Currently, Frontier supports a range of DeFi products deployed on Ethereum, [Binance Smart Chain](https://dexplain.com/tag/binance-chain), BandChain, [Kava](https://dexplain.com/what-is-kava-a-cross-chain-defi-platform/), Harmony, and Cosmos Network. Furthermore, the team is actively developing interoperability with [Polkadot](https://dexplain.com/tag/polkadot) and [Solana](https://dexplain.com/tag/solana) to access products such as [PolkaStarter](https://dexplain.com/will-polkastarter-be-bigger-than-uniswap/) and [Serum DEX](https://dexplain.com/ftxs-serum-defi-dex-powered-by-solana-is-live/). To summarize, Frontier believes users should easily have access to DeFi opportunities in many networks. ## What is FRONT token? FRONT is the platform’s native utility token with the following main use cases: - **Liquidity Mining**: liquidity providers can earn rewards in FRONT tokens. - **Consensus**: Frontier Chain will feature staking FRONT tokens to run a validator node and holders will be able to delegate tokens. - **Governance**: Platform decisions and parameter changes will be community-driven. Additionally FRONT token will also power various platform key features such as: - **Referrals**: earn rewards for inviting your friends into the DeFi economy. - **Gasless transactions**: users will be able to lock tokens in the Frontier Vault as a way to subsidize transaction fees. - **Non-fungible tokens**: Frontier is also planning an [NFT marketplace](https://dexplain.com/what-is-opensea-crypto-collectibles-marketplace/) where creators can buy, sell, and mint [NFTs](https://dexplain.com/tag/non-fungible-tokens). ## Looking to the future What’s interesting about Frontier is that it also introduces wallet composability to DeFi via [TxLink](https://medium.com/frontier-wallet/introducing-txlink-wallet-composability-on-mobile-128721039c91?ref=dexplain.com). Essentially you can use the platform with any Web3 wallet (Trust Wallet, Coinbase Wallet, MetaMask, Fortmatic etc…) which makes onboarding extremely smooth. As a result, you no longer need to download different wallets to access DeFi products on other chains. ![](https://dexplain.com/content/images/2021/12/open-finance.webp) **Decentralized Key Management…** Another fear in [cryptocurrency](https://dexplain.com/tag/cryptocurrency) that stops participants from entering is the thought of losing seed phrases and backup keys. Frontier is building a decentralized key management protocol to ensure your funds are always recoverable. - Binance [recently listed FRONT token](https://twitter.com/binance/status/1328926355438768129?ref=dexplain.com) in their innovation zone, so expect to see much higher trading volumes! **Deflationary…** Adoption will drive the value of FRONT, as the team requires that a portion of any B2B integration fees are collected in tokens. As the demand for fluid on/off ramps between [CeFi & DeFi products](https://dexplain.com/binance-lists-maker-mkr-and-dai-more-defi-tokens-enter-cefi/) increases, Frontier’s position will strengthen! ### Litecoin and Cardano talk potential Velvet Fork for Cross-Chain compatibility URL: https://dexplain.com/litecoin-and-cardano-talk-potential-velvet-fork-for-cross-chain-compatibility/ Last updated: 2021-12-02T20:26:34.000Z Speculation continues to grow over a potential partnership between [Litecoin](https://dexplain.com/tag/litecoin) and [Cardano](https://dexplain.com/tag/cardano) towards achieving cross-chain compatibility. On the 17th of November, [The Litecoin Foundation and Dionysis from IOHK](https://www.youtube.com/watch?v=n8mrYehtaQ8&ref=dexplain.com) discussed how a Velvet Fork could work for both chains. An upgrade to introduce several features to LTC such as [cross-chain](https://dexplain.com/what-is-darwinia-network-cross-chain-transfers-made-easy/) fund settlement, [smart contracts](https://dexplain.com/tag/defi), and improved scalability. ## Litecoin and Cardano: Velvet Fork? This upgrade mechanism for a blockchain is not a hard fork or a soft fork, because it is optional. Essentially, miners would keep securing the Litecoin network whether they choose to install the upgrade or not. As a result, there is no need for majority consensus when performing a velvet fork. Both teams have been actively discussing collaboration options for blockchain interoperability since July. > [@SatoshiLite](https://twitter.com/SatoshiLite?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) it would be great to do something together. I love the idea of testing cross chain communication between Litecoin and Cardano. We got a lot of ideas and I'm sure you guys do too > > — Charles Hoskinson (@IOHK\_Charles) [July 7, 2020](https://twitter.com/IOHK%5FCharles/status/1280557865145561089?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) If the partnership moves ahead, the idea is to implement [Non-Interactive Proofs of Work](https://nipopows.com/?ref=dexplain.com). Because NiPoPoWs enable block verification across different blockchain networks. As a result, Cardano would be able to verify the NiPoPoW transaction from the Litecoin sidechain (where the velvet fork upgrade exists). And perform a smart contract function off the back of that action. To summarize, this technology enables [blockchains](https://dexplain.com/tag/blockchains) to talk to each other much like APIs. ## Bullish upgrade for Litecoin? What’s interesting about this proposal is that it has little to no impact on the main chain’s security. Yet it would bring various benefits to Litecoin in the form of additional cross-chain use cases and scalability. Furthermore, the discussion spoke of how NiPoPoWs could create interoperability between Litecoin and other smart contract capable chains. Meaning it would not lock Litecoin into working solely with Cardano in any way. Additionally, the code is lightweight (\~100 lines) and exists open-source in Bitcoin Cash’s testnet. The catch is that if too few miners choose to update well then the new features would not work. So despite the proposal being an optional upgrade, for the tech to work, it needs community backing. The proposal does face opposition from Litecoin’s community, with one commentator stating that “Projects that are going after hype and gimmicks don’t last long in this space.” Ultimately, with hindsight, the argument of “[DeFi economy is just hype](https://dexplain.com/tag/yield-farming)” may prove to be a very narrow-minded one. So it seems plausible the Litecoin team might want to make a safe bet? ### What is Growth DeFi? GRO Token Explained URL: https://dexplain.com/what-is-growth-defi-gro-token-explained/ Last updated: 2021-12-03T11:57:07.000Z Growth is a [decentralized finance (DeFi)](https://dexplain.com/tag/defi) platform building on top of successful protocols such as Aave, Compound, and Curve. The idea is that [Growth DeFi](https://growthdefi.com/?ref=dexplain.com) enables users to automatically maximize their yields with a hands-off approach. ## What is Growth DeFi? The platform aims to become a full DeFi suite offering optimized strategies for all protocols. At its core, we find gTokens which act similarly to vTokens on [Venus Protocol](https://dexplain.com/tag/venus-protocol). However, gTokens are not just an interest-bearing token that represents a user’s deposited funds into the protocol. Because gTokens also benefit from deposit and withdrawal fees. When a user redeems or mints gTokens there is a 1% fee. Half of the fee is added to locked liquidity pools with GRO pairs. The remaining half is burned to increase scarcity and drive demand. ![](https://dexplain.com/content/images/2021/12/gtokens.webp) As a result, users holding gTokens benefit from the yield of the underlying protocol (for example [Aave](https://dexplain.com/tag/aave)) along with the arbitrage profits of the minting and burning fees. Additionally, users can always count on low slippage with near no impermanent loss because the protocol constantly locks up liquidity. ## GRO Token Explained GRO is the protocol’s governance token, with a total supply of 1,000,000\. The main use case is staking to participate in proposal voting, meaning users control future developments. - **Staking**: to participate in governance users must stake their GRO, however, there are no lock-up mechanisms. Users receive stkGRO which means their tokens remain liquid. - **Liquidity**: All liquidity for gTokens comes from a GRO pair, meaning users can always buy and sell with low slippage. - **Deflationary**: When minting gTokens a portion of the fees are burnt. Additionally, when staking GRO for governance there is a 10% fee, half of these fees are burnt. Growth DeFi positions themselves as [a sustainable farming protocol](https://dexplain.com/what-is-dego-finance-sustainable-liquidity-mining/), where the tokenomic design intends for holding over long-term periods. Essentially, the team hopes to provide an ecosystem that provides users with investment stability as they see no limits to which protocol they can build onto next. The v1 code has gone through [a complete audit by ConsenSys Diligence](https://consensys.net/diligence/audits/2020/12/growth-defi-v1/?ref=dexplain.com) – so growth will keep growing? (*Pun intended*) ### What is Roobee? Investments Open To Everyone URL: https://dexplain.com/what-is-roobee-investments-open-to-everyone/ Last updated: 2021-12-02T21:00:59.000Z [Roobee](https://roobee.io/?ref=dexplain.com) allows users to build investment portfolios combining various assets: cryptocurrencies, stocks, startups, ETFs, and more. Recently, the team launched [DeFi farming](https://dexplain.com/tag/yield-farming) for ROOBEE token on [Ethereum](https://dexplain.com/tag/ethereum) and [Binance Smart Chain](https://dexplain.com/tag/binance-chain). ## What is Roobee? The mission of Roobee is to open up the opportunity for investing to everyone: no matter what income level. The project aims to provide a route for investments from $10 into products that are usually only available to large institutional players, qualified investors, or hedge funds. As a result, the platform is beginner-friendly and [gamifies the process](https://dexplain.com/what-is-vampire-protocol-gamification-of-a-stablecoin/) of investment. No need to spend hours studying market trends, simply answer a few questions, it will generate a portfolio from your risk profile. ![](https://dexplain.com/content/images/2021/12/roobee.webp) The idea is that by making **the process less tedious**, Roobee users will become more disciplined and regular about making investments. Furthermore, you can rebalance and adjust your portfolio in just a couple of clicks. ## Why use blockchain technology? Roobee platform provides transparency and genuine statistics by recording all investment decisions in the [blockchain](https://dexplain.com/tag/blockchain). As a result, users can view exactly how much money is going into different investment products and see real returns. Furthermore, by saving data on a chain it is tamper-proof and safe from falsification. Consequently, nobody could claim that the user has not made this investment. Roobee platform also saves details such as conversion rates, fund movements, and investment terms on-chain, for historical purposes. Additionally, users can hold ROOBEE tokens to gain a premium status on the platform. This enables priority access to additional investment modes which are high-demand and have limited allocation. Furthermore, users can reduce the fees for using the platform by paying with ROOBEE tokens. ![](https://dexplain.com/content/images/2021/12/roobee-farm.webp) **Multi Chain DeFi…** ROOBEE farming is live on Ethereum and Binance Smart Chain for providing liquidity on [Uniswap](https://dexplain.com/tag/uniswap) or [Pancakeswap](https://dexplain.com/tag/pancakeswap). - If you have a high-risk tolerance for impermanent loss, there is also a community farming pool [ROOBEE-CAKE LP pair](https://dexplain.com/farming-on-binance-smart-chain-with-pancakeswap/) which currently has an APY over 400%. **Looking to the future…** platforms offering an easy path for traditional investors and beginners to expand their portfolio into crypto show clear room for growth. Plus, Roobee has a strong team of partners behind it in the form of [Binance](https://dexplain.com/tag/binance-exchange), [BitGo](https://dexplain.com/bitgo-will-bring-wrapped-btc-and-eth-to-tron-defi/), and HyperLedger. ### Four Tools for NFT and CryptoArt Analytics URL: https://dexplain.com/four-tools-for-nft-and-cryptoart-analytics/ Last updated: 2021-12-06T22:47:41.000Z There is no denying that 2020 has been an exploding year for digital artwork powered by blockchain, the so-called [CryptoArt](https://dexplain.com/tag/crypto-art) scene. Where designers create artworks as [non-fungible tokens (NFTs)](https://dexplain.com/tag/non-fungible%20tokens), enabling selling and auctioning across several NFT marketplaces living on Ethereum. Here we will take a look at four tools you can use for NFTs and CryptoArt Analytics. Learn how to track cryptoartist sales in realtime. Activity around collecting NFTs and creating new cryptoart is soaring. It’s becoming increasingly apparent that this will become the new norm for digital artwork. For example, [SuperRare](https://dexplain.com/tag/superrare) generated over $4 million in sales for artists this year. And just recently, [Pak became the first crypto artist](https://twitter.com/DCLBlogger/status/1336285559216431106?ref=dexplain.com) to earn more than $1 million. One sector that is a little lacking is analytics providing data insights on NFTs and cryptoart. Luckily, there are projects in active development aiming to plug this gap. Here are four tools for NFTs and CryptArt analytics. ## ****Four Tools for CryptoArt NFT Analytics** - [CryptoArt.io](https://dexplain.com/four-tools-for-nft-and-cryptoart-analytics/#h-cryptoart-io) - [CryptoArtPulse](https://dexplain.com/four-tools-for-nft-and-cryptoart-analytics/#h-cryptoartpulse) - [OpenSea Rankings](https://dexplain.com/four-tools-for-nft-and-cryptoart-analytics/#h-opensea-rankings) - [NonFungible.com](https://dexplain.com/four-tools-for-nft-and-cryptoart-analytics/#h-nonfungible-com) - [More tools will come?](https://dexplain.com/four-tools-for-nft-and-cryptoart-analytics/#h-more-tools-will-come) ## **CryptoArt.io** [CryptoArt.io](https://cryptoart.io/?ref=dexplain.com) is a new website created by [Richard Chen](https://twitter.com/richardchen39?ref=dexplain.com), a partner from the crypto investment fund 1confirmation. This project tracks cryptoart data from some of the largest NFT marketplaces such as [SuperRare](https://dexplain.com/superrare-has-earned-artists-over-2m-since-launch/), [MakersPlace](https://dexplain.com/what-is-makersplace-user-friendly-digital-art-marketplace-for-nfts/), or [Async](https://dexplain.com/what-is-async-art-programmable-crypto-art/). ![](https://dexplain.com/content/images/2021/11/image-58.png) It is free to use and provides insights on thousands of cryptoartists. Such as the most expensive NFT art pieces, how many artworks an artist has sold, a cryptoartist’s average sale price, and more. All valuable data that should help the scene grow by easily showcasing an artist’s success. Furthermore, it helps give novice collectors a baseline when evaluating a piece’s worth to make a bid. ## **CryptoArtPulse** A [new website launched](https://cryptoartpulse.com/?ref=dexplain.com) by an experienced NFT trader [DCLBlogger](https://twitter.com/DCLBlogger?ref=dexplain.com), aims to be a complete data feed for collectors and artists. The platform enables you to track sales in real-time, along with a lot of search filters. For example, you can easily track the sales of your favorite artist. ![](https://dexplain.com/content/images/2021/11/image-59.png) Plans include updates to help artists gain more exposure such as galleries and interviews. Essentially, NFTArtPulse aims to become a complete portal for discovering cryptoartists and more. ## **OpenSea Rankings** While [OpenSea’s main focus](https://dexplain.com/what-is-opensea-crypto-collectibles-marketplace/) is to be the NFT marketplace for all forms of [crypto collectibles](https://dexplain.com/tag/collectibles), their rankings page is very informative. Nearly every marketplace, virtual worlds, blockchain game, DeFi+NFT platform is being tracked. It perhaps is one of the best ways to get a 360 overview of non-fungible token activity. ![](https://dexplain.com/content/images/2021/11/image-60.png) Here you can find statistics such as total sales, total listings, average price, and volumes. It’s a great way to quickly assess which platforms are currently the most popular. ## **NonFungible.com** [Launched originally](http://non-fungible.com/?ref=dexplain.com) as a way to track sales in Decentraland in 2018, the project quickly evolved to tracking the whole NFT ecosystem. Here you can find a complete sales history of any platform dealing with non-fungible tokens. ![](https://dexplain.com/content/images/2021/11/image-61.png) Meaning you can also follow transactions happening in blockchain-based games such as [Axie Infinity](https://dexplain.com/what-is-axie-infinity-gaming-to-earn-money/) and not just crypto artwork. Given you have all the market sales data at your fingertips, this is a great way to check your buying or selling at a fair price. ## **More tools will come?** We hope you enjoyed reading through our round up of tools for NFTs and CryptoArt Analytics. It is a very new field! If you’re used to rich resources found to analyze your crypto trading or DeFi portfolios – then you can see it’s a field that is lacking. The positive to draw here is that the cryptoart and wider NFT ecosystem is large enough that these types of statistical analytics are interesting, and tools are sought after. So we expect to see more tools being released in the future. Cryptoart.io and CryptoArtPulse will integrate more NFT marketplaces as they grow, providing more data and insights. And we will undoubtedly see the release of tools that specialize in tracking other forms of NFTs such as [Don’t Buy Meme](https://dexplain.com/dont-buy-meme-the-rug-pull/) or [Alpaca City](https://dexplain.com/gamify-your-yield-farming-with-nfts-in-alpaca-city/), projects that overlap with DeFi protocols. Exciting! ### What is DIA? Open Source Oracle Platform URL: https://dexplain.com/what-is-dia-open-source-oracle-platform/ Last updated: 2021-12-02T19:45:48.000Z [DIA (Decentralised Information Asset)](https://diadata.org/?ref=dexplain.com) is an open-source platform for sourcing, supplying, and verifying data that powers the [decentralized finance (DeFi)](https://dexplain.com/tag/defi) economy. This is a key infrastructure component that DeFi applications require to be reliable, commonly, known as an **oracle**. Here we will learn what is DIA token, how it powers the platform, and explore the team’s oracle design. ## What is DIA Token? [DIA Labs](https://twitter.com/diadata%5Forg?ref=dexplain.com) aims to provide trusted oracles for DeFi applications, with reliable data feeds that can scale. For example, if the data feeds of a DeFi product can be manipulated by malicious actors then the product can become exploitable. For products that deal with decentralized lending, [yield farming](https://dexplain.com/tag/yield-farming), flash loans, and margin trading it becomes crucial for the pricing feeds to work off validated data streams. Alternatively, the protocol can be tricked to give up money when it shouldn’t. As a result, DIA is operating in the same DeFi oracle space as Chainlink, Band Protocol, or Tellor. ![](https://dexplain.com/content/images/2021/12/oracle-diagram.webp) By using a crypto-economic incentive, DIA leverages the wisdom of the community for sourcing and validating data. The team believes that a fully transparent solution that incentivizes community participation is the optimal outcome for the data infrastructure powering the DeFi economy. As a result, all of DIA’s data feeds are open-source and accessible to everyone. Meaning all of the historical data is fully auditable. ## DIA Token Use Cases The DIA tokens have the following use cases in the ecosystem: - **Governance**: development is community-driven meaning DIA tokens provide holders with voting power. - **Verification**: DIA tokens can be staked to earn rewards, as a way to validate data provided by existing oracles and also to resolve any disputes. - **Payment**: To access live data streams and certain APIs developers have to pay with DIA tokens. Historical data is accessible free of charge. ## Future Growth? It’s become clear that Oracle technology is going to play an immense role in the future of decentralized financial applications. For example, such as managing crypto indexes like [PieDAO](https://dexplain.com/piedao-introduces-dough-liquidity-mining/) or [DEXTF](https://dexplain.com/dextf-asset-management-protocol-for-defi/) where pricing feeds for asset ratios are key. Furthermore, DeFi is the [cryptocurrency](https://dexplain.com/tag/cryptocurrency) sector growing the fastest across various networks such as [Ethereum](https://dexplain.com/tag/ethereum), [Polkadot](https://dexplain.com/tag/polkadot), and [Binance Smart Chain](https://dexplain.com/tag/binance-chain). Any project such as DIA building an integral infrastructure component stands to gain massively. **Market caps of major oracle networks:** - LINK: $5B - BAND: $137M - TRB: $38M - DIA: $30M Moreover, in a landscape filled with developers that champion decentralization it seems very hard to believe just one oracle project will capture the value of the whole ecosystem. It’s too early to say if DIA will overtake industry leader [Chainlink](https://chain.link/?ref=dexplain.com), but there is so much growth potential, it probably doesn’t even matter! Should be part of any oracle focused [crypto index portfolio](https://dexplain.com/what-is-axia-protocol-decentralized-crypto-index-fund/). ### What is Velas? AI Powered Smart Contract Platform URL: https://dexplain.com/what-is-velas-ai-powered-smart-contract-platform/ Last updated: 2026-07-15T11:43:22.000Z [Velas](https://velas.com/?ref=dexplain.com) stands for Virtual Expanding Learning Autonomous System, it’s an industry first for merging artificial intuition with [blockchain](https://dexplain.com/tag/blockchain). The idea is that Velas chain will operate autonomously, powered by VLX token, removing all the risks of human error. ## What is Velas? Velas is an ultra-high-throughput blockchain that is self-learning and self-optimizing, meaning it will constantly improve over time. As a result, there will never be a major hard fork that could split the community in half over an upgrade. By using neural networks, the Velas blockchain makes use of [Artificial Intuition](https://dexplain.com/tag/artificial-intelligence) to optimize its unique consensus algorithm. Known as Artificial Intuition Delegated Proof of Stake or “AIDPOS”, the [AI-controlled algorithm](https://dexplain.com/what-is-oraichain-oracle-platform-for-artificial-intelligence-models/) will automatically calculate the optimal reward for node operators, VLX stakers, and block discovery times. In this fashion, the network can maximize throughput while keeping decentralizing, stability, and security at maximum efficiency. > This New DeFi Project is Launching on the AI-Powered Velas Blockchain [https://t.co/m5zgy1Dvwe](https://t.co/m5zgy1Dvwe?ref=dexplain.com) [@SymbloxDeFi](https://twitter.com/SymbloxDeFi?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) > > — Velas (@VelasBlockchain) [October 5, 2020](https://twitter.com/VelasBlockchain/status/1313064136914468866?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) Currently, Velas can achieve up to 30,000 transactions per second – which is much higher than over major cryptocurrencies. This level of TPS is higher than traditional payment systems such as Visa or Mastercard. Subsequently, as Velas supports smart contracts, it is in a prime position to provide [decentralized finance (DeFi)](https://dexplain.com/tag/defi) applications that can scale to serve millions of users. ## Native Cross Chain Bridges The network natively supports [cross-chain asset swaps](https://dexplain.com/cross-chain-defi-about-to-explode-polkadot-to-ethereum-bridge/) through Velas Bridges. Users can easily swap their crypto assets between multiple chains and manage them with a multi-wallet. To ensure scalability, Velas wallet uses a system of on-chain/off-chain containers for all supported coins. Therefore, Velas unlocks a whole new world of possibilities for DeFi platforms with in-built interoperability. For example, the DeFi lending platform [Symblox](https://symblox.io/?ref=dexplain.com) is cross chain. It enables users to collateralize a variety of coins on its platform for crypto-backed loans. ![](https://dexplain.com/content/images/2021/12/velas-wallet.webp) To summarize, Velas provides a powerful framework for teams looking to deploy services powered by smart contracts that can scale indefinitely. Of course, the landscape of “*high throughput blockchains*” and “*smart contract platforms with no scalability issues*” is very competitive: [Binance Smart Chain](https://dexplain.com/tag/binance-chain), [Elrond](https://dexplain.com/tag/elrond), [Polkadot](https://dexplain.com/tag/polkadot), and more. However, no other team is building a self-learning network where dApps will feel the benefit of being AI-powered by default. ### How Does the Tellor Oracle Work? TRB Token Review (2026 Update) URL: https://dexplain.com/how-does-the-tellor-oracle-work-trb-token-review/ Last updated: 2026-07-17T16:22:51.000Z [Tellor](https://tellor.io/?ref=dexplain.com) is a decentralized oracle network built to feed real-world data to smart contracts without relying on centralized data providers. Oracles are a critical piece of DeFi infrastructure, since blockchains cannot access outside data on their own. Here we will take a look at how the Tellor oracle works and the role of the TRB token. ## What Problem Does Tellor Solve? Smart contracts are powerful, but they are also isolated — they cannot natively fetch data such as asset prices from the outside world. This is known as the oracle problem. If a DeFi protocol relies on a single centralized data feed, that feed becomes a point of failure and manipulation. As a result, decentralized oracles like Tellor exist to provide data in a censorship-resistant, tamper-resistant way. ## How Tellor Works Tellor uses a network of staked reporters who submit data on-chain. Reporters must stake TRB tokens to participate, which gives them something to lose if they submit false data. The idea is to make honesty economically rational and dishonesty expensive. Data submissions can be disputed. If a reporter is found to have submitted bad data, their stake can be slashed and awarded to the disputer. As a result, the system is designed to be self-policing, with economic incentives keeping reporters accurate. ## The TRB Token TRB (Tellor Tributes) is the token at the center of the network. It is used for staking by reporters, for disputing incorrect data, and for aligning incentives across the system. As a reporter, you stake TRB to earn rewards for providing data; as a user of the protocol, that staking is what gives you confidence the data is reliable. As a result, TRB's utility is tied directly to the security of the oracle itself. ## Looking to the Future Looking to the future, oracles remain foundational to DeFi, and decentralization of data feeds is an ongoing priority for the ecosystem. Tellor competes in a market that includes larger players such as [Chainlink](https://chain.link/?ref=dexplain.com), but its staking-and-dispute design offers a distinct, fully permissionless approach. As a result, it remains a relevant part of the oracle landscape. For comparisons with other oracle designs, see our coverage of [Oraichain](https://dexplain.com/what-is-oraichain-oracle-platform-for-artificial-intelligence-models/), [DIA](https://dexplain.com/what-is-dia-open-source-oracle-platform/), [Kylin Network](https://dexplain.com/what-is-kylin-network-oracle-network-powered-by-polkadot/), and [API3](https://dexplain.com/what-is-api3-token-decentralized-api-network/). Always do your own research before relying on any protocol. *This article was reviewed and updated in July 2026 for clarity on Tellor's oracle mechanics and the TRB token.* ### Uniswap (UNI) Token Farming Nears End: Where to next? URL: https://dexplain.com/uniswap-uni-token-farming-nears-end-where-to-next/ Last updated: 2021-12-02T19:41:19.000Z [Uniswap](https://dexplain.com/tag/uniswap), the Automated Market Maker (AMM) for [decentralized token swaps](https://dexplain.com/tag/decentralized-exchanges), looks like it will break through the $3 billion milestone of Total Value Locked (TVL) this week. But with the [liquidity mining programs](https://dexplain.com/uniswap-launches-uni-token-and-liquidity-mining/) for farming UNI token nearing the end – where will [DeFi](https://dexplain.com/tag/defi) farmers turn to next? ![](https://dexplain.com/content/images/2021/12/competition.webp) According to metrics from DeFi Pulse, Uniswap is the top-ranked DeFi protocol by TVL. And in the DEX category, it is way ahead of any competition. Additionally, the UNI/USD price is up by 40% compared to last week. However, we have to remember the liquidity shake-up that occurred during August when the first clone [SushiSwap](https://dexplain.com/fresh-sushi-buyback-chef-nomi-returns-all-funds/) appeared. For a time liquidity providers earned more rewards [via yield farming SUSHI](https://dexplain.com/yield-farmers-devour-sushiswap-250-million-locked/). As we know most yield farmers are not loyal to any platform – they will go where they can earn the most returns! ## UNI Token Farming Nears End The four liquidity pools that enable users to earn UNI tokens hold a massive amount of the protocol’s liquidity. In fact, roughly $2.25 billion is deposited in ETH, [wrapped BTC](https://dexplain.com/what-is-strudel-finance-one-way-btc-to-eth-bridge/), and [stablecoins](https://dexplain.com/tag/stablecoins) across the four pools. Currently, the most popular farming pair is via wBTC which means once the rewards stop we could see a big migration to a different DeFi protocol. ![](https://dexplain.com/content/images/2021/12/uniswap-rewards.webp) UNI farming continues until November 17th, afterwards it’s more than likely that liquidity farmers move to look for the next best opportunity. You should beware of this date even if you don’t farm via Uniswap or as an ETH trader! Because DeFi farmers will evaluate their position, they may choose to sell big chunks of ETH if the price has pumped since they entered the pool. Additionally, expect more volatility on the UNI market as some farmers may have been waiting until the end to claim their rewards. To summarise, you should expect an increase in volatility! ## What is DeFi Farmers Next Opportunity? With new platforms being released on a nearly weekly basis, all with their farming operations and tokenomics – it’s hard to know exactly where the liquidity will migrate too. But, it seems more likely that Uniswap farmers are after protocols with a history and *not simply this week’s farm.* Less risk of being rug pulled! **Here is a collection of DeFi farming protocols we’ve looked at in detail and recommend exploring:** - [Curve](https://dexplain.com/what-is-curve-finance-and-crv/) - [Balancer](https://dexplain.com/start-balancer-liquidity-mining-to-earn-bal-tokens/) - [Value DeFi](https://dexplain.com/tag/value-liquid/) - [SushiSwap](https://dexplain.com/tag/sushiswap) - [Pickle Finance](https://dexplain.com/what-is-pickle-finance-bringing-stability-to-defi/) - [SashimiSwap](https://dexplain.com/double-farming-with-sashimiswap/) Happy farming! ### What is Oraichain? Oracle Platform for Artificial Intelligence Models URL: https://dexplain.com/what-is-oraichain-oracle-platform-for-artificial-intelligence-models/ Last updated: 2021-12-02T20:24:32.000Z [Oraichain](https://orai.io/?ref=dexplain.com) is a data oracle platform that focuses on connecting trustless applications with Artificial Intelligence models. The platform is powered by the ORAI token for payments and governance. Here we will take a look at what is Oraichain building in the blockchain [data oracle sector](https://dexplain.com/tag/oracles). ## What is Oraichain? Oraichain is a bridge for connecting AI to smart contracts, the core technology of providing data streams to trustless applications is similar to [Tellor](https://dexplain.com/how-does-the-tellor-oracle-work-trb-token-review/) or [DIA](https://dexplain.com/what-is-dia-open-source-oracle-platform/). However, Oraichain is taking a more niche approach by focusing on AI models. Currently, smart contract languages such as Solidity or Vyper are much too strict to implement AI models natively on-chain. Generally speaking, they require inputs that are 100% accurate because code is the law. ![](https://dexplain.com/content/images/2021/12/system-overview.webp) Whereas, an AI model for face recognition would work off percentages of accuracy. Furthermore, to implement an efficient [AI strategy](https://dexplain.com/tag/artificial-intelligence) you need high amounts of storage to input lots of data. But, blockchain networks such as [Ethereum](https://dexplain.com/tag/ethereum) often limit the storage to help keep [transaction fees](https://dexplain.com/loopring-the-solution-to-high-ethereum-gas-fees/) down. As a result, Oraichain aims to bridge the gap by enabling secure access between smart contracts and Artificial Intelligence models. ## Key Features of Oraichain The platform is a public [blockchain](https://dexplain.com/tag/blockchain) that implements a delegated proof of stake (dPoS) consensus protocol. In this way the transaction times are fast and data requests can be completed quickly. ORAI is the platform’s native cryptocurrency for paying network transaction fees, such as making data requests or setting up a validator. Below are the key benefits of using Oraichain: - **Oracle AI**: Data streams for smart contracts to connect with AI models that can enhance their [DeFi](https://dexplain.com/tag/defi) products. - **Marketplace**: Library of public AI algorithms available to connect with dApps or any application. - **Publisher**: Create, manage, and sell your own AI services via the marketplace. - **Staking**: Token holders can stake their ORAI to participate in securing the network, and earn rewards in the process. - **Crowdsource**: A request portal that deals with crowdfunding to develop new AI services, not on the market. - **DAO**: Oraichain is community-driven, where ORAI tokens provide holders with voting power. A unique point of Oraichain is that the quality of provided AI models is constantly tested. When a data request comes through, it will also contain test cases. As a result, the AI provider must pass these test cases before receiving any payment for sourcing the data request. The idea is that test cases will be an incentive for providers to keep improving the accuracy of their AI models. ## Oraichain Use Cases ![](https://dexplain.com/content/images/2021/12/ya-finance.webp) ### What is UniBright? UBT Token Review URL: https://dexplain.com/what-is-unibright-ubt-token-review/ Last updated: 2021-12-02T19:54:54.000Z [UniBright](https://unibright.io/?ref=dexplain.com) is a blockchain for business project meaning they are working to connect the open-source smart contract networks and traditional companies. The project markets itself as the “*Unified framework for blockchain-based business integration*.” and is powered by UBT token. ## What is UniBright? UniBright provides solutions that will enable organizations to benefit from [blockchain](https://dexplain.com/tag/blockchain) technology without incurring extensive costs. The platform enables companies to embrace blockchain without needing a whole new team of developers. By providing a framework that creates and launches [smart contracts](https://dexplain.com/tag/defi) on any appropriate blockchain via using visual workflows. ![](https://dexplain.com/content/images/2021/12/baseline-stacks.webp) This means companies do not need prior blockchain, smart contract knowledge. Furthermore, they do not even need coding skills to start using cryptocurrency and blockchain technology. Users just have to select their use case and create a custom UniBright workflow. As a result, you can think of it as a [bridge layer technology](https://dexplain.com/ren-renbridge-and-renvm-everything-you-need-to-know/). As a result, companies can use UniBright to create a bridge between their existing systems and the new blockchain. ## What is the benefit of UBT Token? If a user wishes to access the UniBright framework they need to have UBT tokens. Different usage scenarios will require a different amount of UBT tokens to be deposited. Therefore, there will be an organic demand for buying UBT tokens on the open market. UniBright also offers assistance in buying UBT tokens via an exchange. ![](https://dexplain.com/content/images/2021/12/unibright-tokenomics.webp) Their model works off a monthly basis of usage. Potential users can calculate in advance how many UBT tokens they require for 30 days of usage. Once a user starts using the UniBright framework, it also allows them to sign a **Rebuy contract**. As a result, they will continually buy UBT tokens to use the UniBright framework on a rolling basis. ## What is the future of UniBright? At launch, there have been concerns that Entreprises and corporate businesses could not be expected to register on a cryptocurrency exchange to acquire UBT tokens. Surely buying tokens on the open market to start using the platform would be a headache. However, so far this has not stopped the platform from growing. And to date, all users have been able to acquire all the tokens from exchanges such as [Uniswap](https://dexplain.com/tag/uniswap'). ![](https://dexplain.com/content/images/2021/12/unibright-save.webp) UniBright has been able to develop major partnerships such as SAP, Microsoft, Iconiqlab, and Ambisafe among others. Perhaps more importantly, they have signed an important partnership with Deutsche Bahn to create a [tokenized ecosystem](https://dexplain.com/tag/ethereum) for public transportation. Postively, this seems to imply long term usage for the UniBright framework. ## Summary UniBright aims to solve a critical barrier to the adoption of blockchain: package it in a simple way for businesses. Of course, whoever cracks this problem of blockchain b2b integration stands to gain massively. As a result, competition in this space is very fierce. Just take a look at [Aergo](https://dexplain.com/what-is-aergo-the-blockchain-for-business/), [iExec RLC](https://dexplain.com/iexec-selected-by-the-european-commission-to-build-next-generation-internet/), or [Algorand](https://dexplain.com/a-week-in-algorand-all-we-do-is-win/). ### What is NFTfi? Marketplace for NFT Collateralized Loans URL: https://dexplain.com/what-is-nftfi-marketplace-for-nft-collateralized-loans/ Last updated: 2021-12-02T19:34:33.000Z [NFTfi](https://nftfi.com/?ref=dexplain.com) is a simple peer to peer marketplace for crypto loans using collateralized [non-fungible tokens (NFTs)](https://dexplain.com/tag/non-fungible-tokens). Much like how the popular [decentralized finance (DeFi)](https://dexplain.com/tag/defi) lending platforms [Aave](https://dexplain.com/aave-protocol-overtakes-maker-with-over-1-5-billion-locked/) or [MakerDAO](https://dexplain.com/tag/makerdao) where borrowers provide Ethereum (ETH) or ERC20 tokens as collateral. ## What is NFTfi? NFTfi is a decentralized marketplace for borrowing and lending [ETH](https://dexplain.com/tag/eth) or the DAI stablecoin. However, instead of providing collateral in cryptocurrencies if you want to borrow you need to provide an NFT as collateral. As a result, you could use digital crypto art bought off [SuperRare](https://dexplain.com/superrare-has-earned-artists-over-2m-since-launch/), collectibles traded on [OpenSea](https://dexplain.com/what-is-opensea-crypto-collectibles-marketplace/), in-game assets from [Axie Infinity](https://dexplain.com/what-is-axie-infinity-gaming-to-earn-money/), or your favorite [Aavegotchi](https://dexplain.com/what-is-aavegotchi-where-nfts-meet-defi/). ![](https://dexplain.com/content/images/2021/12/NFTfi-platform.webp) This allows you to leverage your position, for example, say you’re bullish on the upcoming [Pepemon cards](https://dexplain.com/what-is-pepemon-finance-gotta-farm-em-all/) and want to increase your PPBLZ farming strategy. Using NFTfi you could put up a piece in your portfolio as collateral for a loan in ETH. Once you have secured the loan you could buy the tokens required to increase your NFT farming power. ## NFTfi Fees For users looking to borrow there are **no additional fees** charged by the platform. Of course, there will be interest on your NFT crypto loan, which you would pay to the lender. For lenders, NFTfi will take **5% of the interest earned** on a successful loan. However, there are no fees for submitting offers or if the loan is foreclosed. The team did say as the platform’s volume grows then they will look at reducing the fee. ![](https://dexplain.com/content/images/2021/12/lend-nftfi.webp) What could be a good addition to NFTfi would be an additional incentive to increase usage and volume. For example, Rarible’s model of rewarding users with [RARI tokens](https://dexplain.com/what-is-rarible-solving-the-pains-of-digital-art-with-nfts/) might be an option to explore. Currently, there have not been any mentions of NFTfi using a native governance token. ## How does this work? Essentially, the asset you’re happy to use as collateral will sit in NFTfi’s escrow smart contract. Potential lenders will send through offers, if you accept an offer then your asset will be locked in the smart contract and your wallet will receive the ETH. In the event where you don’t pay back the loan in time, then your NFT becomes available for foreclosure by the lender. Note that if the lender does foreclose then the NFT will be transferred to their wallet. However, all claims to the outstanding loan amount are waived as it’s a [non-recourse loan](https://www.investopedia.com/ask/answers/08/nonrecourse-loan-vs-recourse-loan.asp?ref=dexplain.com). > NEW RECORD: Earlier today [@HPrivakos](https://twitter.com/HPrivakos?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) listed a 32 land Decentraland estate on [@nftfi](https://twitter.com/nftfi?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com), looking for a 33 ETH ($14.5k) loan. Less than 2 hours later he had got what he asked for. [@Decentraland](https://twitter.com/decentraland?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) taking the crown from [@Cryptokitties](https://twitter.com/CryptoKitties?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) on biggest loan as well. [#NFTs](https://twitter.com/hashtag/NFTs?src=hash&ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) [#NFTfi](https://twitter.com/hashtag/NFTfi?src=hash&ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) [#Decentraland](https://twitter.com/hashtag/Decentraland?src=hash&ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) [pic.twitter.com/GfbpKL1rp2](https://t.co/GfbpKL1rp2?ref=dexplain.com) > > — NFTfi.com (@nftfi) [November 6, 2020](https://twitter.com/nftfi/status/1324765612481093635?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) **P2p marketplace…** It is important to remember this is a peer to peer marketplace, all the terms such as loan value, the interest, and the duration of the loan are set by the lender. And if you’re not happy with the terms then don’t accept the crypto loan. **The bottom line is every party involved is in control of their own risk**! - As a lender, research around the NFT offered as collateral is key. Because, if the borrower defaults you will most likely be looking to sell the asset fast. If you do not understand the value of the NFT, then it’s probably too risky! **Looking to the future…** Activity on the platform is steadily going up, especially with the interest in digital [crypto art](https://dexplain.com/tag/crypto-art) growing and the recent flood of [DeFi+NFTs platforms](https://dexplain.com/what-is-meme-token-nfts-farming-guide/). If will be interesting to watch if NFTfi grows bigger than the traditional approach to DeFi lending with [stablecoins](https://dexplain.com/tag/stablecoins), such as seen on platforms like [Vigor](https://dexplain.com/what-is-vigor-protocol-defi-lending-and-borrowing-on-eos/) or [Venus](https://dexplain.com/what-is-venus-xvs-defi-platform-on-binance-smart-chain/). ![](https://dexplain.com/content/images/2021/12/stats.webp) Recently, the platform saw a new record of **a 33 ETH loan which involved a collateralized estate from Decentraland**. To summarize, there are great opportunities to start lending for a profit! ### Elrond Staking Phase 2, Mainnet Upgrade is coming URL: https://dexplain.com/elrond-staking-phase-2-mainnet-upgrade-is-coming/ Last updated: 2026-07-17T16:37:51.000Z > **Editor's note (2026 update):** Elrond rebranded to [MultiversX](https://dexplain.com/what-is-multiversx-egld-formerly-elrond-review-2026-draft/) in late 2022\. For the current project, how the network works today, and where the EGLD token stands, see our updated review: [What is MultiversX (formerly Elrond)?](https://dexplain.com/what-is-multiversx-egld-formerly-elrond-review-2026-draft/) [Elrond](https://dexplain.com/tag/elrond) is preparing for its first mainnet upgrade [since staking went live](https://dexplain.com/elrond-launches-mainnet-with-new-app-maiar-and-enhanced-token-model/), scheduled to happen December 1st. The upgrade will increase the amount of validators in the network, along with enabling additional functionality. ## Elrond Staking Phase 2: Validators Queue Elrond is rolling out staking in four phases, where the first phase is a closed off system. Meaning not everyone could become a validator. It’s a bootstrapping process which ensures the network has sufficient [eGLD](https://dexplain.com/elronds-mainnet-token-swap-is-ready-erd-is-moving-to-egld/) locked into staking. The idea is it will keep the network secure and deter malicious actors. However, phase 2 enables anyone to launch a validator by staking their eGLD and joining a queue. The queue is a list of new nodes that want to join the ecosystem. Essentially, if any validator chooses to un-stake they will immediately be replaced. It’s another security measure to ensure Elrond’s node count cannot fall below a critical level. To summarize quickly, you can enter the validator queue by staking 2500 eGLD. ## Why enter the Validator queue? Once the upgrade is complete and the validator queue launches, a weekly reward pool of **5000 eGLD** will go live. Everyone staking eGLD in the [validators or delegation](https://dexplain.com/what-is-elrond-erd-blockchain/) queue will be eligible to receive a proportional amount (to their stake) of these rewards. Meaning that even if your validator never moves from the queue into the protocol, you can still earn eGLD. [Elrond](https://dexplain.com/tag/elrond) is preparing for its first mainnet upgrade [since staking went live](https://dexplain.com/elrond-launches-mainnet-with-new-app-maiar-and-enhanced-token-model/), scheduled to happen December 1st. The upgrade will increase the amount of validators in the network, along with enabling additional functionality. ![](https://dexplain.com/content/images/2021/12/estimation.webp) The APR will be capped at 20%, above is a little breakdown that estimates returns depending on how much eGLD is staking in the queues. ## What’s next for Elrond? Staking Phase 3 and 4, which should happen early 2021, include features such as: increasing the total number of nodes, staking more than 2500 eGLD per validator, and open delegation going live. There is also talk of the **first on-chain community voting** happening to finalize the upgrades. **Developers…** [CEO Beniamin Mincu highlights](https://elrond.com/blog/its-time-to-build/?ref=dexplain.com) in a recent blog article that **it’s time to start building on Elrond**. Smart contracts with 30% gas royalties that are fast and upgradable on a chain with 16,000 TPS, can’t be found anywhere else! ![](https://dexplain.com/content/images/2021/12/elrond-dev-kit.webp) - Elrond’s dev kit is ready to deploy [DeFi and decentralized products](https://dexplain.com/tag/defi) quickly to help teams keep development time and costs low. **Smart Accounts…** Elrond accounts have key-value storage, meaning they can store more information than just an address and balance. Think email, [BTC address](https://dexplain.com/tag/bitcoin), social networks, KYC status, citizenship – all stored safely in an encrypted form. Developers can leverage these features to unlock a whole new wealth of use cases for [blockchain](https://dexplain.com/tag/blockchain). ### What is TrueFi? Uncollateralized Lending is here URL: https://dexplain.com/what-is-truefi-uncollateralized-lending-is-here/ Last updated: 2021-12-02T21:07:42.000Z [TrueFi](https://truefi.io/?ref=dexplain.com) is a DeFi lending protocol launched by [TrustToken](https://www.trusttoken.com/?ref=dexplain.com), the team behind the TrueUSD (TUSD) stablecoin. Notably, the platform enables vetted borrowers access to capital without needing to lock up funds as collateral. TrueFi recently went live to mainnet on Ethereum, along with farming of their [TRU governance token](https://info.uniswap.org/pair/0xec6a6b7db761a5c9910ba8fcab98116d384b1b85?ref=dexplain.com) – here is what you need to know! ## What is TrueFi? TrueFi is a DeFi lending platform, much like [Aave](https://dexplain.com/tag/aave) or [Venus](https://dexplain.com/what-is-venus-xvs-defi-platform-on-binance-smart-chain/), which lets you earn interest on stablecoin deposits. However, there is a key difference as TrueFi enables borrowers to secure uncollateralized loans. The idea is the protocol will attract major industry players and institutions (such as OTC desks, exchanges, or other DeFi protocols) as borrowers, looking to secure high-value long term loans. Or new use cases for lending on-chain such as the real-estate sector, think mortgages, or commercial investment loans. Currently, these are untapped traditional markets for [DeFi](https://dexplain.com/tag/defi) given existing protocols are not realistic options for high-value loans. ## Uncollateralized Lending For example, one of the first loan requests is from Alameda Research (FTX Exchange) for the amount of 3,500,000 USD. The reason this is important is that **high-value loans** mean lenders on TrueFi will earn **long-term** returns. ![](https://dexplain.com/content/images/2021/12/truefi-loan-application-1.webp) As a result, we can expect the APY rates for lenders to remain consistent and sustainable. Furthermore, the protocol design is **capital efficient** and will deposit any unused funds into [Curve](https://dexplain.com/what-is-curve-finance-and-crv/) to maximize the lender’s earnings. To summarize, these are attractive points for lenders, seen by the protocol locking up over $30M in just 3 days after launch. It’s important to note this type of lending could be riskier than depositing stablecoins into protocols that do require collateral. In case of a default, lenders could lose a portion or all of their funds. TrueFi mitigates this risk by maintaining a whitelist of vetted borrowers. Additionally, TRU stakers have the final say by assessing the creditworthiness of the borrower and voting over loan approval. Lastly, in the case of a delinquent borrower, TrueFi will take legal action to recover the loan. ## TRU Token The protocol is powered by TRU token which holds the following use cases: - **Staking**: when a loan request comes through TRU token holders stake to vote “Yes” or “No” over the loan’s approval. Stakers are incentivized to vote carefully as their rewards are based on if the loan ends up being repaid successfully. - **Farming**: to bootstrap liquidity TRU tokens are initially being distributed as rewards to lenders, stakers, and through liquidity mining programs on Uniswap or Balancer. - **Governance**: once TRU is fairly distributed and decentralized, the future development of TrueFi will be community-driven. Here is the breakdown of TRU token allocation, which will all distribute via farming: ![](https://dexplain.com/content/images/2021/12/TRU-tokens.webp) Don’t forget to be eligible to earn TRU tokens, you need to [stake your LP tokens](https://app.truefi.io/farm?ref=dexplain.com) in one of the pools. ## Looking to the future It’s quite early to speculate over if TrueFi will become an industry leader for DeFi lending, and if the demand/value for TRU token will grow. That being said TrustToken is doing a lot of things right from launch, which is a great sign: - Protocol code has gone through a full security audit by [Slowmist](https://github.com/trusttoken/audits/blob/master/TrueFi/truefi%5Faudit%5Fslowmist%5Fnovember%5F21%5F2020.pdf?ref=dexplain.com). - Fair launch as TRU distribution is 100% through farming. Furthermore, any tokens the team farms with their funds will either be burnt or reinvested into the community. - The protocol collects a 0.25% fee from borrowers which goes into the community treasury (governed by TRU holders). - TRU token does not follow an inflationary economic model as it has a fixed supply. Meaning potential yield farmers don’t have to be as worried about constant downwards selling pressure. - The backend tech powering on-chain loans can plug into other applications by independent developers. Essentially, TrueFi can become a new building block for the whole DeFi economy. ## Final Thoughts: Powered By TrustToken We should also mention that TrustToken successfully operates stablecoins for [five major fiat currencies](https://www.trusttoken.com/currencies?ref=dexplain.com), and has been doing so for years. TUSD is considered by many to be the most transparent US Dollar stablecoins on the market as it ticks all the regulatory boxes. > \~48h from launch, [#TrueFi](https://twitter.com/hashtag/TrueFi?src=hash&ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) TVL rank on [@DefiLlama](https://twitter.com/DefiLlama?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) at #34 > > Good start 💪 [pic.twitter.com/lIWBBrwqaf](https://t.co/lIWBBrwqaf?ref=dexplain.com) > > — TrueFi.io 💸 (@TrustToken) [November 23, 2020](https://twitter.com/TrustToken/status/1331005321595203586?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) **Expect quick growth:** TrueFi will leapfrog a lot of DeFi protocols, [in terms of TVL rankings](https://defillama.com/protocol/truefi?ref=dexplain.com), by attracting capital simply off their industry reputation alone. Along with TRU listings on major cryptocurrency exchanges. - Recently the team announced listings on [TokenizerDeFi](https://twitter.com/TrustToken/status/1331263503911383042?ref=dexplain.com) and [Hoo Exchange](https://twitter.com/Hoo%5Fexchange/status/1331120350688546817?ref=dexplain.com). **Integrations:** The same reputation will help TrueFi be widely integrated into analytic tools, portfolio trackers, and other DeFi protocols. All speeding up the protocol’s adoption and growth! Want to learn more? Jump in their [discord server](https://bit.ly/chattruefi?ref=dexplain.com) to join their community. ### What is Alpha Homora? Leveraged Yield Farming URL: https://dexplain.com/what-is-alpha-homora-leveraged-yield-farming/ Last updated: 2026-07-17T16:29:05.000Z > **Editor's note (2026 update):** Alpha Homora and the wider Alpha Finance project have changed considerably since this was written. For the full story — the 2021 exploit, the rebrand to Stella, and where the ALPHA token stands today — read our retrospective: [What Happened to Alpha Finance and the ALPHA Token?](https://dexplain.com/what-happened-to-alpha-finance-alpha-token/) [Alpha Finance](https://alphafinance.io/?ref=dexplain.com), a leveraged [yield aggregator](https://dexplain.com/yearn-finance-vaults-explained/), now supports popular DeFi tokens such as [AAVE](https://dexplain.com/aave-protocol-overtakes-maker-with-over-1-5-billion-locked/) or [MKR](https://dexplain.com/binance-lists-maker-mkr-and-dai-more-defi-tokens-enter-cefi/). Alpha Homora makes leveraged [yield farming](https://dexplain.com/tag/yield-farming) easy, enabling users to borrow ETH to take higher liquidity positions on supported pairs. ## What is Alpha Homora? Alpha Homora is a protocol for leveraging your favourite [DeFi](https://dexplain.com/tag/defi) farming strategy, the team describes it as a *dYdX for yield farming*. Essentially, it enables you to provide liquidity to [Uniswap pools](https://dexplain.com/tag/uniswap) with up to 2.5x your initial portfolio size. As a result, you can earn **more trading fees** from the swaps going through the pool. Additionally, your provided liquidity is going to generate more rewards. ![](https://dexplain.com/content/images/2021/12/alpha-homora.webp) Alpha Homora will **re-invest** all yield farmed tokens into your position every 24 hours, meaning it automatically maximizes your profit. To quickly summarize, the ecosystem features several actors: ETH Lenders, Yield Farmers, Liquidators, and Bounty Hunters. - **Lenders**: stake their ETH in the protocol to earn interest, much like via Aave or MakerDAO. - **Yield Farmers**: would be the borrowers, who want to farm Uniswap pools with leverage. - **Liquidators**: Keep the protocol safe by liquidating positions at risk (bad debt), in doing so they earn 5% of the position value. - **Bounty Hunters**: the re-invest feature is not automatic, the function needs to be called. Users who call the function will earn 3% of the total reward. ## Why would anyone want to farm with leverage? DeFi farming with leverage via Alpha Homora **means you’re at risk of being liquidated**. If the token or [ETH](https://dexplain.com/tag/ethereum) price drops significantly then this could result in the loss of all your assets. Essentially, it is like margin trading but for yield farming **so will require much more monitoring than usual**. However, if you’re bullish on an asset such as [LINK](https://chain.link/?ref=dexplain.com) then you could stand to earn more trading fees by borrowing ETH. Here is an example of how it would work for ETH/LINK pool. ![](https://dexplain.com/content/images/2021/12/alpha-homora-chainlink-pool.webp) Additionally, Alpha Homora adds functionalities to **help increase your capital efficiency** much like [a vault product](https://dexplain.com/yfv-finance-launches-value-vaults/). For example, you can use the platform to provide liquidity to Uniswap with just one asset without needing the equal amount of ETH. The platform will automatically convert/swap the required amount to ETH so that you can supply the liquidity. Or you can start with ETH and it will automatically buy the amount of tokens required. Furthermore, you can access these features **without needing to take any leverage**. Magic! ### Venus Protocol Launches to Mainnet with XVS Farming URL: https://dexplain.com/venus-protocol-launches-to-mainnet-with-xvs-farming/ Last updated: 2021-11-30T14:43:44.000Z [Venus Protocol](https://dexplain.com/tag/venus-protocol) officially launched its [DeFi](https://dexplain.com/tag/defi) lending platform on [Binance Smart Chain](https://dexplain.com/tag/binance-smart-chain). And in just 5 hours, the protocol locked up enough value to become the largest lending pool for Binance Coin (BNB). ## What is Venus Protocol? Venus is a [decentralized money market](https://dexplain.com/what-is-venus-xvs-defi-platform-on-binance-smart-chain/) for lenders and borrowers, living on Binance Smart Chain to take advantage of low network fees and high scalability. The platform enables users to lock up crypto assets as collateral to mint [a synthetic stablecoin VAI](https://dexplain.com/swipe-wallets-sneak-peek-of-venus-protocol/). Furthermore, the DeFi protocol features community governance by holders of its native XVS token. Currently, XVS tokens can be farmed by liquidity suppliers, protocol borrowers, and stablecoin minters. Essentially, you can deposit capital to earn interest along with farming XVS! Currently, users can deposit the following BEP-20 assets, among others: - [Swipe](https://dexplain.com/tag/swipe-wallet/) (SXP) - Binance Coin (BNB) - USDT (USDT) - USDC (USDC) - BUSD (BUSD) - Venus (XVS) ### How to participate in liquidity mining? You can start using Venus Protocol by following these steps: 1. If you’re new to Binance Smart Chain, you will need to add the network to your MetaMask wallet. You can read through our tutorial of creating [a MetaMask wallet for BSC here](https://dexplain.com/farming-on-binance-smart-chain-with-pancakeswap/). 2. Make sure you have some BNB in your wallet to pay for gas fees. 3. You will need one or more of the supported cryptocurrencies listed above in your wallet. If you don’t have any, you can acquire them via [Pancakeswap](https://dexplain.com/tag/pancakeswap) or [Binance Exchange](https://dexplain.com/tag/binance-exchange). 4. Open up [app.venus.io](https://app.venus.io/?ref=dexplain.com), make sure you’re logged into your wallet. 5. Select the asset you want to deposit. ![](https://dexplain.com/content/images/2021/11/image-44.png) 6\. Enter the amount and click supply to sign the transaction. ![](https://dexplain.com/content/images/2021/11/image-45.png) ****And you’re now farming XVS tokens!** Currently, these are the early days for Venus Protocol so we would recommend supplying funds with a long term outlook. If you want to learn more, check out [our in depth DeFi tutorial for using Venus Protocol](https://dexplain.com/venus-protocol-defi-tutorial-how-to-supply-and-borrow-assets-mint-vai-stablecoin-and-farm-xvs-tokens/). It contains several strategies for borrowing and lending to maximize your yield. In the coming weeks, we should see releases around their governance, developer documentation, which will unlock a lot of new use cases for VAI stablecoin. ### Don’t Buy MEME: The Rug Pull URL: https://dexplain.com/dont-buy-meme-the-rug-pull/ Last updated: 2021-12-02T21:05:38.000Z The DeFi project [MEME](https://dexplain.com/tag/meme-token) is offering a lucky bidder a 1-in-12 chance of earning a [Wrapped Bitcoin](https://dexplain.com/bitgo-will-bring-wrapped-btc-and-eth-to-tron-defi/). Via an auction investors can bid on 12 identical non-fungible-tokens (NFTs), but here’s the catch: it’s [programmable crypto art](https://dexplain.com/what-is-async-art-programmable-crypto-art/). And one of those NFTs, just one of them, holds an entire BTC. ## The Rug Pull Auction This is a collaboration project between [Robin Schmidt](https://twitter.com/DirSchmidt?ref=dexplain.com) from The DeFiant, [Simon Wan](https://twitter.com/iamsimonwan?ref=dexplain.com) (Artist), and the NFT farming project [MEME](https://dexplain.com/what-is-meme-token-nfts-farming-guide/). The artwork itself is a hand-drawn piece, and there are only 12 of them. Meaning the crypto art itself will be a rare collectible. It starts as a swirling neon splashed image, something out of a psychedelic trip. Then the swirls briefly show Simon Wan’s painting of film director Alfred Hitchcock holding a magnifying glass. If a holder chooses to unlock the [NFT](https://dexplain.com/tag/non-fungible-tokens), then all the neon swirls will reveal the Hitchcock painting in full. And also reveal on the website, for everyone to see, if your NFT contained the WBTC. ![](https://dexplain.com/content/images/2021/12/rug-bomb-dozen.webp) However, the real interest is what will happen after the auction. Will the holders conspire together and try to raise the value of the *secret* together? Or will they open up the [crypto art](https://dexplain.com/tag/crypto-art) to see if it contains the WBTC? What about if Bitcoin is worth $100k – could you still contain the secret? Of course, by unlocking the NFT, you run the risk of rug-pulling yourself. ![](https://dexplain.com/content/images/2021/12/rekt-rug-pull.webp) Because once someone unlocks their NFT and finds that Bitcoin, the theory is the other NFTs will crash in value. Hence the name: *Rug Pull*. Which is the scam tactic where projects *secretly* mint more tokens to dump on their [Uniswap](https://dexplain.com/tag/uniswap) market, rendering the token worthless. Essentially, this auction can be looked at as a game of chance. The NFT sector continues to [grow at parabolic speed](https://dexplain.com/what-is-rarible-solving-the-pains-of-digital-art-with-nfts/), with collectors breaking [new sales records](https://dexplain.com/superrare-has-earned-artists-over-2m-since-launch/) on what seems to be a weekly basis for digital art and collectibles. We are not sure if this latest initiative from MEME will set a new record, but it is going to be exciting to watch. Especially, the value of said NFTs once the game begins! ### ETHITEM: A New Token Superstandard on Ethereum? URL: https://dexplain.com/ethitem-a-new-token-superstandard-on-ethereum/ Last updated: 2021-12-02T19:52:57.000Z [ETHITEM](http://ethitem.com/?ref=dexplain.com) aims to be a new superstandard for tokens building on [Ethereum](https://dexplain.com/tag/ethereum), it fuses all the functions found in ERC20s, ERC721s, and ERC1155s into one. Essentially, providing a token standard for use in [crypto art](https://dexplain.com/tag/crypto-art), [games](https://dexplain.com/tag/crypto-gaming), [DeFi](https://dexplain.com/tag/defi), or any other dApp universally. ## What is ETHITEM? ETHITEM is a platform in active development by [DFOhub](https://twitter.com/dfohub?ref=dexplain.com) for building ITEMs on top of Ethereum. Currently, we find three classic token standards on Ethereum: ERC20 for tokens, ERC721, and ERC1155 for everything [non-fungible token (NFTs)](https://dexplain.com/tag/non-fungible-tokens) related. As a result, ITEMs are a token standard that is the synthesis of all three together. ![](https://dexplain.com/content/images/2021/12/item-standard.webp) It’s a design that’s portable across the whole network and will not face any compatibility issues for any existing DeFi apps or wallets. Excitingly, it means an NFT can now become an ERC20 token. Furthermore, you can use ETHITEM to sell fragments of your collectible. ## Advantages of ETHITEM You now have a token standard that is interoperable across the whole Ethereum universe. - Auctionable via [OpenSea](https://dexplain.com/what-is-opensea-crypto-collectibles-marketplace/) or [Rarible](https://dexplain.com/what-is-rarible-solving-the-pains-of-digital-art-with-nfts/). - Swappable via [Uniswap](https://dexplain.com/uniswap-uni-token-farming-nears-end-where-to-next/) or any other DEX. - Arbitrage between NFT marketplaces and DEXs! - Can be pool as liquidity on [Balancer](https://dexplain.com/tag/balancer) or any AMM. - Compatible with any [yield farming](https://dexplain.com/tag/yield-farming) operation. - More gas efficient as it supports batch sending. - Compatible with all tracking services such as Etherscan and Coingecko. **It opens up a world of possibilities**! For example, imagine putting up half of your Aavegotchi on [NFTfi](https://dexplain.com/what-is-nftfi-marketplace-for-nft-collateralized-loans/) for a collateralized crypto loan. Or depositing the art you farmed via [MEME](https://dexplain.com/what-is-meme-token-nfts-farming-guide/) in the pool to earn trading fees. Essentially, the ecosystems of [collectibles](https://dexplain.com/tag/collectibles) and ERC20 tokens can merge into one with full DeFi integrations. To summarize, you can use ITEMs everywhere! ![](https://dexplain.com/content/images/2021/12/AARTE-farming.webp) ETHITEM protocol is community-driven and operates as a Decentralized Flexible Organization (DFO). Essentially, all governance happens **100% on the chain** by holders of the equity token ARTE. Currently, the details around farming ARTE tokens are not live – so watch closely! ### Crypto.com Card Review URL: https://dexplain.com/crypto-com-card-review/ Last updated: 2021-12-02T19:21:09.000Z [Crypto.com’s MCO Visa Card](https://crypto.com/en/cards.html?ref=dexplain.com) is widely seen as one of the better [crypto debit cards](https://dexplain.com/best-crypto-cards/) available on the market today. It features high cashback rewards, lots of perks, and is widely available. It’s also becoming one of the best [cryptocurrency exchanges](https://dexplain.com/tag/cryptocurrency-exchanges) for trading, here we will review Crypto.com card and see if it’s the right Bitcoin debit card for you. ## What is MCO Visa Card? Crypto.com platform offers a lot of different products for [cryptocurrency](https://dexplain.com/tag/cryptocurrency) enthusiasts, you can manage crypto easily in your account and exchange between over 68 different coins. Crypto.com was previously known as Monaco (MCO) until it rebranded in July 2018\. Hence, why you see some of their products using MCO as part of their name. Excitingly, the MCO Visa Card enables you to convert your cryptocurrency to fiat currency and spend it anywhere that Visa is accepted – worldwide! ![](https://dexplain.com/content/images/2021/12/crypto.com-image.webp) Additionally, the platform features products such as **Crypto Pay** that lets you seamlessly buy gift cards for any popular brands with cryptos. Or use **Crypto Earn** where you can deposit your cryptocurrency and earn up to 18% interest. Furthermore, users can trade on **Crypto.com Exchange** with extremely low trading fees (usually under 0.16%). ![](https://dexplain.com/content/images/2021/12/crypto.com-cards.webp) MCO Visa Card is one of the most popular cryptocurrency debit cards available, the company has over three million users worldwide. One reason is because Crypto.com cards are supported in many countries. Additionally, they are the pioneers of offering higher cashback levels for staking their native CRO token. For instance, its a tokenomic design which we now see being copied by [Swipe](https://dexplain.com/tag/swipe-wallet) and [Wirex](https://dexplain.com/wirex-card-review-best-btc-debit-card/). In addition, there are several different Visa cards available, all with their different rewards and benefits (more on that below). However, is this the best bitcoin debit card available in the UK, the EU and the US? Read through this Crypto.com card review to find out more. ## Crypto.com Card Review ### Advantages - Fast KYC verification (under 5mins) - Widely available: UK, Europe, the United States, and Singapore. - Free sign up - No monthly fees. - No ATM withdrawal fees. - Up to 8% in crypto rewards (cashback in CRO tokens). - Benefits program (rebates for Spotify, Netflix, Amazon Prime etc..) - Contactless Visa Debit card. - Higher cashback of 10% with select retailers. - Google, Apple, and Samsung Pay support. ### Disadvantages - Need to be happy staking a lot CRO to receive decent cashback. - Manual top up card balance (USD/EUR/GBP/SGD). - Exchange account and Card App account are separate logins. - A low [star rating](https://uk.trustpilot.com/review/crypto.com?ref=dexplain.com) on Trustpilot. - Crypto Earn interest rates are lower if you don’t agree to locking up your assets. - Some features\* you can’t access depending on your location. **\* Fiat currency available for deposits & withdrawals in your account depends on your region, meaning it could be frustrating for heavy multi currency users.** ## Funding Sources You can hold and manage over 68 different cryptocurrencies in your Crypto.com account, however, only a select few and stablecoins can be used to top up your MCO Visa card balance. - Bitcoin (BTC) - Ethereum (ETH) - Litecoin (LTC) - Ripple (XRP) - TrueUSD (TUSD) - TrueGBP (TGBP) - TrueAUD (TAUD) - Paxos Standard (PAX) - USD Coin (USDC) Of course, given that there is also an exchange on the platform it is quite easy to convert your crypto assets to coins that are supported by the debit card. However, your exchange account and card app account are treated as two separate accounts. As a result, managing your balances is not as easy as with a competitor such as [Coinbase Card](https://dexplain.com/coinbase-card-review-pros-and-cons/) or [Binance Card](https://dexplain.com/binance-visa-card-review-high-cashback-btc-debit-card/). ## Crypto.com Card Countries One reason why the MCO Visa Card is seen as one of the best bitcoin debit cards on the market is because it is already widely available in various countries. Whereas, many competitors are only seen issuing cards in one region such as EU. You can [sign up for free](https://crypto.com/en/cards.html?ref=dexplain.com) if you reside in any of the countries below. **Crypto.com card countries**: - Europe (EEA zone) - United Kingdom - Singapore - United States ## MCO Visa Card Benefits This is probably the most interesting part of our MCO card review, the differences between the card tiers and the benefit programs! To understand the system quickly: the more CRO that you stake, the better tier of card you will be able to get. However, do note that all cashback is paid out in crypto rewards through CRO tokens. So you can’t choose to earn it in Bitcoin like [Swipe](https://dexplain.com/swipe-crypto-debit-card-review/). ![](https://dexplain.com/content/images/2021/12/cryptocom-card-levels.webp) As of time of writing, **the highest cashback of 8% is only available for staking 2,500,000 CRO which is roughly $195,000**. As a result, this tier seems quite unrealistic for most people, however, the lower tiers also provide great rewards. For example, staking 25,000 CRO will enable you to earn 3% cashback along with rebates for Spotify and Netflix. However, the good news is even the free tier, Midnight Blue, that requires no staking will earn you a 1% cashback on all purchases. Furthermore, your stake is not locked up forever. After 6 months, you will be able to choose to withdraw your staked CRO tokens. However, if you do decide to stop staking then you will transition to a lower cashback rate and lose additional benefits. ## Crypto.com Card Fees and Limits If you don’t look at the staking requirements to receive higher rewards, then it is **FREE** to order and deliver your MCO Visa Card. **There is no monthly fee, no domestic transaction fees, no commission whatsoever when spending cryptocurrency**. In fact, if you buy a product for $200 USD then you will pay the $200 equivalent in crypto assets! Plus all the limits are extremely high. In fact, the only real fee is a $4.95 charge if you don’t use your card over a 12-month period. To summarize, MCO Visa Cards are very competitive when it comes to fees. Meaning Crypto.com card is potentially the cheapest and fairest bitcoin debit card available for spending your crypto assets. Here are some limits that you should keep in mind. | Limit | GBP Card | EUR Card | USD Card | | -------------------------------- | -------- | -------- | -------- | | Maximum Card Balance | £22,000 | €25,000 | $25,000 | | Daily Top-up Limit | £22,000 | €25,000 | $10,000 | | Weekly Top-up Limit | £22,000 | €25,000 | $25,000 | | Yearly Top-up Limit | £220,000 | €250,000 | – | | Daily ATM Withdrawal Limit | £1,800 | €2,000 | $500 \* | | Weekly ATM Withdrawal Limit | £9,000 | €10,000 | $5000 \* | | Yearly ATM Withdrawal Limit | £66,000 | €75,000 | – | | Daily ATM Withdrawal Frequency | 3 | 3 | 3 | | Monthly ATM Withdrawal Frequency | 30 | 30 | 30 | | Yearly ATM Withdrawal Frequency | 360 | 360 | – | Additionally, ATM withdrawals are **free** but do have a limit. After you go over the limit **then there is a 2% fee**. | Card Type | GBP Card | EUR Card | USD Card | | -------------- | -------- | -------- | -------- | | Midnight Blue | £180 | €200 | $200 | | Ruby Steel | £360 | €400 | $400 | | Royal Indigo | £720 | €800 | $800 | | Jade Green | £720 | €800 | $800 | | Icy White | £720 | €800 | $1,000 | | Rose Gold | £720 | €800 | $1,000 | | Obsidian Black | £900 | €1,000 | $1,000 | In other words, if you’re a heavy cash user then you will want to ensure you’re staking enough CRO tokens to receive a higher tiered card such as the Jade Green, Rose Gold, or Obsidian Black. ## Summary: The Best Crypto Debit Card? There is a lot to like with Crypto.com app, exchange, and MCO Visa Card especially as they cover a wide range of cryptocurrency services. As a result, you can use Crypto.com as a savings account earning interest and also to spend your Bitcoin instantly. ![](https://dexplain.com/content/images/2021/12/crypto.com-app-image.webp) However, users looking for the best crypto debit card experience need to be comfortable investing heavily into CRO tokens. It is one of the only disadvantages found during our Crypto.com cards review. While the free options remain competitive for a cryptocurrency debit card, for the best deals and rates, you need to be staking CRO. **Zero fees or extremely low fees are impressive for a cryptocurrency debit card**. For example, you can buy [Bitcoin (BTC)](https://dexplain.com/tag/bitcoin) with 0% fees if you deposit via bank transfer to their exchange. You can then spend this BTC with your Crypto.com card while earning cashback. You can then use those rewards to buy a gift card for popular brands with up to 10% cashback! It’s quite an impressive crypto platform that continues to innovate. However, users who prefer a [decentralized](https://dexplain.com/tag/defi) non-custodial approach may prefer looking at [Monolith](https://dexplain.com/monolith-card-review-defi-visa-card/) or [Plutus](https://dexplain.com/plutus-card-review-best-crypto-debit-card-for-eth/). ## How to Sign up? Believe our Crypto.com card review means the MCO Visa Card is the best option to spend your cryptocurrency instantly with a Bitcoin debit card? If you live in one of the Crypto.com card countries, step one is to create an Exchange account, which you can do for [free by signing up here](https://crypto.com/en/cards.html?ref=dexplain.com). If not? Check out our other [crypto card](https://dexplain.com/best-crypto-cards/) reviews. ### Aftermath of Value DeFi $6M Flash Loan Attack URL: https://dexplain.com/aftermath-of-value-defi-6m-flash-loan-attack/ Last updated: 2021-12-02T20:04:34.000Z [Value DeFi](https://dexplain.com/tag/value-liquid) fell victim to a complex flash loan attack using [Aave](https://dexplain.com/aave-protocol-overtakes-maker-with-over-1-5-billion-locked/) and [Uniswap](https://dexplain.com/tag/uniswap) which drained their flagship MultiStables vault by $6 million. A starch reminder after the recent exploits of [Akropolis](https://dexplain.com/what-is-akropolis-a-look-at-defi-apps-sparta-and-delphi/) protocol and [Harvest Finance](https://dexplain.com/what-is-harvest-finance-defi-with-farm-tokenomics/) that DeFi product users need to remember this tech is highly experimental. > The MultiStables vault was the subject of a complex attack that resulted in a net loss of $6M. [https://t.co/dnFRa5yPBJ](https://t.co/dnFRa5yPBJ?ref=dexplain.com) > We are currently working on a postmortem and are exploring ways to mitigate the impact on our users. > > — Value DeFi (@value\_defi) [November 14, 2020](https://twitter.com/value%5Fdefi/status/1327660571592773632?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) To make matters worse for Value DeFi, the [MultiStables Vault](https://dexplain.com/yfv-finance-launches-value-vaults/) was flaunted to have these three innovative security features: “*1) Flash-loan attack prevention 2) Fake-token attack prevention 3) Re-entrance attack prevention.”* The attacker may even have specifically targeted Value DeFi protocol off the back of their boast, as he signed a follow-up transaction with: > do you really know flashloan? ## Double Flash Loan Attack The hacker used a complex process involving a double flash loan. It started with a flash loan of around 80,000 ETH from Aave, and then a flash swap to secure $116 million DAI from Uniswap. At this point, the attacker swapped the [ETH](https://dexplain.com/tag/ethereum) for various [stablecoins](https://dexplain.com/tag/stablecoins) and deposited DAI into Value’s stablecoin vault. > Giga arbitrage/exploit [https://t.co/iP8ivD8PRl](https://t.co/iP8ivD8PRl?ref=dexplain.com) [https://t.co/zP6nh0PUkS](https://t.co/zP6nh0PUkS?ref=dexplain.com) [pic.twitter.com/KMPX4LeM3U](https://t.co/KMPX4LeM3U?ref=dexplain.com) > > — emiliano.eth 🦇 🔊 (@emilianobonassi) [November 14, 2020](https://twitter.com/emilianobonassi/status/1327646493256331264?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) Then the attack exploited the pricing [oracle](https://dexplain.com/tag/oracles) utilized by Value DeFi’s withdrawal method by completing a series of stablecoin swaps in [Curve](https://dexplain.com/tag/curve-finance). To summarize, the exploit let the attacker drain around $6.5 million worth of DAI from the multi vault pool before paying back the flash loans. You can see the full transaction here on [etherscan](https://etherscan.io/tx/0x46a03488247425f845e444b9c10b52ba3c14927c687d38287c0faddc7471150a?ref=dexplain.com). ## Value DeFi Compensation Plan The team plans to create a compensation fund that will use a combination of developer and insurance funds. Along with a percentage of the fees generated by the protocol. However, the proposal is to create an [elastic](https://dexplain.com/what-is-based-money-the-defi-game-of-chicken/) supply IOU “*I owe you”* token. This would deploy at a 1:1 ratio for every dollar lost by the hack. - The compensation fund will buy back IOU tokens to burn them until the lost funds have been paid back. Essentially, the team hopes this market pressure will keep the IOU token to hold a $1 peg. - IOU token will automatically rebase every week to accrue interest, at the rate of 10% APY. This compensates affected farmers for their lack of access to capital. - IOU tokens will be tradable, meaning affected depositors could *exit early* even at a profit if there is enough market demand. Of course, the [VALUE](https://dexplain.com/value-defi-protocol-migrates-140m-liquidity-from-balancer/) token dipped since the attack with the price falling to a new low of $1.90 on Saturday, a drop of over 22% in 24 hours. However, since then the price is stabilizing at $2.05 though it was trading around $2.80 before the attack. Due to its innovative nature [DeFi protocols](https://dexplain.com/tag/defi) continue to be vulnerable to ever-expanding attack vectors. Value DeFi states their team has no plans to give up despite the attack. And will come back stronger, with more security, while pushing their [roadmap](https://dexplain.com/value-liquid-will-feature-flexible-farming/) forward! ### What is DAOstack? The future of collaboration with GEN token URL: https://dexplain.com/what-is-daostack-the-future-of-collaboration-with-gen-token/ Last updated: 2021-12-02T19:50:04.000Z [DAOstack](https://daostack.io/?ref=dexplain.com) aims to be the future of collaboration, it is an open platform for decentralized governance. Behind it we find the native GEN token powering its ecosystem. Here we will take a quick overview of what is DAOstack and GEN’s tokenomics. ## What is DAOstack? DAOstack enables a collective of people to self organize themselves easily and efficiently around shared goals or values. Many compare DAOstack as the operating system that allows people to easily launch a Decentralized Autonomous Organization (DAO). Furthermore, DAOs are becoming an increasingly important backbone in the [DeFi economy](https://dexplain.com/tag/defi). ![](https://dexplain.com/content/images/2021/12/the-daostack.webp) Launched in 2018, the platform provides a framework for developers to create intuitive interfaces for participating in a decentralized organization. Excitingly, there is no need to have any technical background. DAOstack promotes use cases such as collaboration to produce work, asset management, curation or any form of decentralized decision making. ## What is GEN token? The DAOstack ecosystem has a native [crypto-token](https://dexplain.com/tag/cryptocurrency) which is GEN. As a result, this would be seen as the utility token of the ecosystem. In a DAO there is a need to ensure the voting is not corruptible. Therefore, the solution is to provide voting power in the form of a token. GEN token provides you with voting power in the ecosystem, you can stake GEN tokens for or against proposals. There is an incentive for making ***good*** decisions, as staking effectively acts as a prediction market. Where if you [stake](https://dexplain.com/lido-plans-to-make-staked-eth-2-0-liquid/) for proposals that are passed then you’re rewarded with more GEN. Whereas, if you stake on proposals that then fail, you will lose GEN. ## Why does GEN token have value? The beauty behind the DAOstack project is that it opens the doors for an unlimited amount of DAOs. There can be a DAO for any conceivable human purpose and it can be governed efficiently. Essentially. the idea behind buying GEN tokens is speculating that some of these DAOs become useful and garner success. If a small percentage of these DAOs become profitable then the demand for GEN tokens will increase drastically. With how fast [yield farming operations](https://dexplain.com/tag/yield-farming) have locked up millions, it seems like this could be a profitable long term bet. ![](https://dexplain.com/content/images/2021/12/ecosystem-daostack.webp) DAOstack also has a strong team of partners behind them, and will move a portion of their own funds into the DAO ecosystem. This will be a way to kickstart and attract a new generation of DAOs as the overall amount of capital deposited into DAOstack ecosystem increases. Consequently, stakers will have more DAOs to govern and staking rewards will increase. ### Coinbase Card Review: Pros and Cons URL: https://dexplain.com/coinbase-card-review-pros-and-cons/ Last updated: 2021-12-02T19:32:05.000Z [Coinbase Card](https://www.coinbase.com/card?ref=dexplain.com) enables you to spend [cryptocurrency](https://dexplain.com/tag/cryptocurrency) instantly with a Visa debit card. Essentially, as if it was fiat currency in your bank. Linked to your Coinbase Wallet, many see it as one of the [best crypto debit cards](https://dexplain.com/best-crypto-cards/) on the market – but is it? Here we will look at the pros and cons with a review of Coinbase Card for your Bitcoin Visa card needs. ## What is Coinbase Card? Coinbase is one of the largest cryptocurrency exchanges on the market. Following the trend set out by [Binance Card](https://dexplain.com/binance-visa-card-review-high-cashback-btc-debit-card/), they also have their own crypto debit card which as you may have guessed: Coinbase Card. Currently, it is only available in Europe, the UK, and very soon will launch in the US. For heavy Coinbase traders who may regularly buy high amounts of Coinbase’s US dollar-pegged [stablecoin](https://dexplain.com/tag/stablecoin) USDC, this may be one of the best bitcoin debit cards. Because the card does not charge any fees when converting USDC to fiat currency. However, for spending any other cryptocurrencies then you will be hit with **a hefty 2.49% transaction charge**. ![](https://dexplain.com/content/images/2021/12/coinbase-card.webp) Although it is not the cheapest crypto card available, it does enable quick spending without the need to manually top up your card like [Monolith](https://dexplain.com/monolith-card-review-defi-visa-card/) or [Plutus](https://dexplain.com/plutus-card-review-best-crypto-debit-card-for-eth/). There is no need to keep a fiat currency balance, Coinbase Card will automatically spend your BTC, ETH, LTC, or BCH. Essentially, this card enables you to spend your coins as easily as if it was money in your traditional bank account. ![](https://dexplain.com/content/images/2021/12/spending-summary.webp) Furthermore, Coinbase is a well-known entity in the industry so users will not have any fear of their card product disappearing overnight. However, there is no cashback or reward scheme available for Europeans. **Only US users will be able to earn 1% cashback in BTC or 4% cashback in Stellar Lumens (XLM)**. As a result, if you’re based in Europe you should definitely consider other options for a crypto visa card such as Wirex or Swipe. ## Coinbase Card Review ### Advantages - A trusted brand in crypto. - Pioneers of the industry. - Contactless Visa card - Seamlessly connects to your Coinbase crypto wallets. - Available in the UK and EU. - Launching soon in the USA. - The app makes it very easy to track your spending (summaries, receipts). - Google Pay support. - No fees when spending USDC stablecoin. ### Disadvantages - FEES - No support for Apple Pay. - Higher exchange fees than competitors (2.49%). - Foreign transaction fees. - Physical card order fee (£4.95 or €4.95) - No cashback\* *\** **The upcoming Coinbase Card in the US will earn users 1% cashback in Bitcoin (BTC) or 4% cashback in Stellar Lumens (XLM). [You can sign up for the waiting list](https://www.coinbase.com/card?ref=dexplain.com)! Additionally, it enables zero-fee spending for USDC stablecoin.** ## Funding Sources Your Coinbase account is connected to your Coinbase Card, currently, you can spend the following cryptocurrencies instantly online or in-store. - Bitcoin (BTC) - Ethereum (ETH) - Litecoin (LTC) - Bitcoin Cash (BCH) - Ripple (XRP) - Basic Attention Token (BAT) - Augur (REP) - 0x (ZRX) - Stellar (XLM) Furthermore, Coinbase supports deposits from bank transfers such as SEPA or an ACH transfer. You can make a fiat currency deposit to buy supported cryptocurrencies, which you can then spend instantly with your Visa card. ## Coinbase Card Fees and Limits Here are the most important fees associated with using Coinbase Card, which you should be aware of. Note that much like other cryptocurrency debit card solutions, fees can depend heavily on your region, you can read through [all of the fees here](https://help.coinbase.com/en/coinbase/trading-and-funding/other/coinbase-card-faq.html?ref=dexplain.com). | Fees | Amount | | ---------------------------------- | ------------------------------------------------------ | | Card Issuance Fee | £4.95 | | ATM Withdrawal Fee (Domestic) | Free (up to £200/month)1% (any amount over £200/month) | | ATM Withdrawal Fee (International) | Free (up to £200/month)2% (any amount over £200/month) | | Transaction Fee (Domestic) | Free | | Transaction Fee (Inside EU) | 0.2% | | Transaction Fee (International) | 3% | | Crypto Liquidation Fee | 2.49% | **And here are the limits on spending.** | Limit | Amount | | -------------------------- | ------------------- | | Daily Spending Limit | £10,000 / €10,000 | | Monthly Purchase Limit | £20,000 / €20,000 | | Yearly Purchase Limit | £100,000 / €100,000 | | Daily ATM Withdrawal Limit | £500 / €500 | As we can see Coinbase Card does offer a higher daily ATM withdrawal limit than competitors. Therefore, if you’re a heavy cash user then this bitcoin debit card may be the best option for you. ## Summary: Best Bitcoin Debit Card? While Coinbase Card does make spending cryptocurrency effortless, it is not the cheapest bitcoin debit card available on the market. Especially if you’re located in Europe where you can receive higher rewards using [Swipe](https://dexplain.com/swipe-crypto-debit-card-review/) or [Wirex](https://dexplain.com/wirex-card-review-best-btc-debit-card/). Potentially, for US users it may become the best crypto debit card given the high 4% cashback and zero fees for USDC spending. ![](https://dexplain.com/content/images/2021/12/coinbase-card-image.webp) The worst part about this card is that even spending your crypto assets in your own country incurs a 2.49% cryptocurrency exchange fee. Not to mention if your outside of your country, then you will be hit with an additional fee! **The fees are very high and make it seem like Coinbase is quite greedy!** Given that crypto debit cards are still rather new, and we now have the emergence of [DeFi Visa Cards also](https://dexplain.com/tag/defi-visa-card/) – the sector is very competitive. Many alternatives, such as [Crypto.com](https://dexplain.com/crypto-com-card-review/), are waiving all their fees as they aggressively want more users to sign up. That being said, you can’t put a price on the security of using an industry leader’s product. ## How to sign up? Believe our Coinbase Card review is the perfect option to spend crypto instantly with a Bitcoin debit card? First, you will need to create a Coinbase Account, [which you can do for free by signing up here](https://www.coinbase.com/card?ref=dexplain.com). If not? Check out our other [crypto card](https://dexplain.com/best-crypto-cards/) reviews. ### What is Gameswap? DEX for trading in-game assets URL: https://dexplain.com/what-is-gameswap-dex-for-trading-in-game-assets/ Last updated: 2022-01-03T17:17:01.000Z [Gameswap](https://www.gameswap.org/?ref=dexplain.com) is an innovative [decentralized exchange (DEX)](https://dexplain.com/tag/decentralized-exchange) for trading in-game items and [non-fungible tokens (NFTs)](https://dexplain.com/tag/non-fungible-tokens). The project is community-driven, one of the first products being developed by [Shroom Finance](https://shroom.finance/?ref=dexplain.com). Shroom is a protocol for minting in-game assets on Ethereum. ## What is Gameswap? Gameswap is a [decentralized finance (DeFi)](https://dexplain.com/tag/defi) app aiming to bridge the gaming and crypto sector. The idea is to leverage crypto technology such as minting NFTs to trade virtual items from video games. At its core, Gameswap will act very much like an [automated market maker (AMM)](https://dexplain.com/tag/uniswap) for swapping tokens. However, instead of the primary trading pair being Ethereum (ETH), on Gameswap it will be its own native token GSWAP. The team highlights that many trading platforms for virtual skins claim to be peer to peer, but they are centralized. Gameswap aims to provide **a transparent open source platform** without any central points of control. ## So it’s an NFT marketplace? Yes, kind of. You can draw similarities with an NFT marketplace such as [OpenSea](https://dexplain.com/what-is-opensea-crypto-collectibles-marketplace/) or [Rarible](https://dexplain.com/what-is-rarible-solving-the-pains-of-digital-art-with-nfts/). However, the main difference is Gameswap will provide a bridge for in-game items to be minted into NFTs. ![](https://dexplain.com/content/images/2021/12/gameswap.webp) Essentially, users will be able to trade different in-game currencies as ERC20 tokens, buy/sell/swap NFTs, and cashout to various stablecoins. Most likely the platform will also support trading native [crypto games](https://dexplain.com/tag/crypto-gaming) such as [Axie Infinity](https://dexplain.com/what-is-axie-infinity-gaming-to-earn-money/) or [Aavegotchi](https://dexplain.com/what-is-aavegotchi-where-nfts-meet-defi/). ![](https://dexplain.com/content/images/2021/12/bridge-bridge.webp) GSWAP is the platform’s governance token along with the main payment token for the platform. For example, if two gamers swap an in-game item as an NFT but there is a price difference. The trader will then use GSWAP tokens to cover the difference. ## Looking to the Future Gameswap platform should be operational in a beta form before Christmas, however, GSWAP farming will be live shortly. > Frens, our [$GSWAP](https://twitter.com/search?q=%24GSWAP&src=ctag&ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) pools in Uniswap and Balancer are now ready (links below). Farms on [https://t.co/hAB9xSmoyF](https://t.co/hAB9xSmoyF?ref=dexplain.com) will open at some point during the next 24h, so stay tuned. Thanks for your patience![https://t.co/h7EXMEFAHW](https://t.co/h7EXMEFAHW?ref=dexplain.com)[https://t.co/jHsYDW8gWi](https://t.co/jHsYDW8gWi?ref=dexplain.com) > > — Gameswap 🔺 (@GameswapDEX) [November 4, 2020](https://twitter.com/GameswapDEX/status/1323845808333168641?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) **DeFi Farming…** If you’re a [SHROOM holder](https://info.uniswap.org/pair/0x7D611e4CF1C7B94561C4cAA5602F329d108336e3?ref=dexplain.com) then the upcoming [liquidity mining programs](https://dexplain.com/start-balancer-liquidity-mining-to-earn-bal-tokens/) to farm GSWAP tokens will be a great opportunity. Currently, the first Uniswap pairs available to stake in the farming pools will be **GSWAP-SHROOM (6x), ETH-SHROOM (3x), ETH-GSWAP (3x), UNI-SHROOM (1x), LINK-SHROOM (1x)**. - GSWAP has a fixed total supply of 20,000,000 with 6% being [sold via an initial auction](https://twitter.com/GameswapDEX/status/1323665294510927875?ref=dexplain.com) on Bounce Finance. This is to bootstrap the initial GSWAP/ETH Uniswap liquidity. **A risky adventure…** while the platform looks very promising, especially as it would bring together the gaming industry and NFTs beautifully. Potential investors and farmers should note major game developers such as Valve have [a history of banning platforms](https://dotesports.com/counter-strike/news/valve-skin-traders-latest-csgo-update?ref=dexplain.com) that interact with their in-game skin markets. As a result, the platform’s success may depend on if Gameswap can establish partnerships with game developers! ### Binance Visa Card Review: High Cashback BTC Debit Card? URL: https://dexplain.com/binance-visa-card-review-high-cashback-btc-debit-card/ Last updated: 2021-12-02T19:03:00.000Z [Binance Visa Card](https://www.binance.com/en/cards?ref=X8XUVA60) enables users to instantly convert and spend cryptocurrencies at the point of sale. No need to manually top up your [crypto](https://dexplain.com/tag/cryptocurrency) debit card balance or pay excessive network fees. Read through our Binance Visa Card review to discover the benefits of their high cashback [bitcoin debit card](https://dexplain.com/best-crypto-cards/). And decide if it is right for you! ## What is Binance Visa Card? Currently available to EU based residents, the Binance Visa Card lets holders spend crypto without any barriers. It’s very easy to sign up and go through the exchange’s verification process in a couple of minutes. If you’re already a regular [Binance](https://dexplain.com/tag/binance-exchange) user then it’s just a couple of clicks to order your Visa card. One of the main benefits of this BTC debit card is that it links in easily to the whole Binance ecosystem. As a result, there is no separate account or app needed for managing your Binance Visa Card funds. Meaning you can move funds from your **Spot Account** or rewards from staking coins in the **Launchpool** instantly over, and be spending them in minutes! ![](https://dexplain.com/content/images/2021/12/binance-card-image.webp) It is a stark contrast to other cryptocurrency debit cards such as [Monolith](https://dexplain.com/monolith-card-review-defi-visa-card/) or [Plutus](https://dexplain.com/plutus-card-review-best-crypto-debit-card-for-eth/) where users have to manually top up their card balance. Furthermore, as Binance offers a custodial service you do not have to worry about high network fees when spending up your bitcoin debit card. Of course, this does mean you do not control the private keys of your held cryptocurrencies. But, there is a certain peace of mind to knowing you can reset your account password if forgotten. **Note Binance Visa Card is live, [you can sign up today](https://www.binance.com/en/register?ref=X8XUVA60) and physical card deliveries have started.** ## Binance Visa Card Review ### Advantages - Up to 8% cashback in BNB. - Fast KYC verification process. - Free sign up. - No Recurring Fees. - Connected to your Binance Exchange account. - Contactless Visa Debit card - Spend crypto automatically. - Supports Google and Samsung Pay. - Manage on website and App. ### Disadvantages - Low Monthly limit for ATM withdrawals - Currently only available in the EU. - Need at least 200 BNB to make the cashback interesting. ## Funding Sources This may be one of the easiest crypto debit cards to top up, especially if you’re a regular Binance exchange user. Users only have to move funds from their Spot Wallet account into their Card Account. Additionally, you can use a fiat currency EUR if you want to avoid any market volatility. ![](https://dexplain.com/content/images/2021/12/euro-top-ups-binance-card.webp) Binance Visa Card will convert crypto funds automatically into the local currency, enabling you to spend cryptocurrencies seamlessly. As this uses [Swipe’s technology in the backend](https://dexplain.com/tag/swipe-wallet/), major coins such as BTC, BNB, BUSD, and SXP can be used as a funding source. ## Cashback and Extra Perks Currently, we do not know any details about the Binance Visa Card rewards program. What we do know is that various [Swipe Card tiers](https://dexplain.com/swipe-crypto-debit-card-review/) are being migrated to the platform. Therefore, we expect native Binance Card users to have the same type of rewards programs. Such as rebates for Netflix, Amazon Prime, Spotify, or Uber. What we do know is users will **all receive instant cashback in BNB**, even at the lowest account tier you will still receive a 1% cashback. Given that most banks in the world do not provide any cashback, this should drive adoption by default. **This is how the Binance Visa Card will calculate your eligible cashback amount.** | Card Level | BNB | BNB rewards on your card purchases | | ---------- | ----- | ---------------------------------- | | 1 | FREE | 1% | | 2 | 10 | 2% | | 3 | 50 | 3% | | 4 | 200 | 4% | | 5 | 500 | 5% | | 6 | 2,000 | 6% | | 7 | 6,000 | 8% | Excitingly, users do not have to have to agree to a lock-up of any BNB. The [cashback reward is set by the average amount of BNB](https://www.binance.com/en/support/faq/c93fe535bcf4431aa32623ae0a49d4f2?ref=X8XUVA60) across your whole Binance Account (Spot, Futures, Launchpad) over the last 30 days. In our opinion, **this may be one of the best ways to offer a crypto cashback program yet**, as cardholders stay in control of their funds with no restrictions. ## Binance Card Fees and Limits As of writing, there are no maintenance or subscription fees for using Binance Visa Card. It is free to sign up for this Bitcoin debit card, you just have to pass KYC level 2 verification and reside in a supported region. Additionally, if your transactions are made in Euros then there are no processing charges. **Here is a selection of fees and limits that you should be aware of.** | Fee Type | Fee | | ------------------------------------------------------------ | ---------- | | Daily Spending Limit | EUR 8,000 | | Monthly Spending Limit | EUR 20,000 | | Daily ATM Withdrawal | EUR 150 | | Monthly ATM Withdrawal | EUR 300 | | Transaction fee, both at point of sale and ATM withdrawals\* | up to 0.9% | | First issue of the virtual or physical card | 0 | | Reissue of the virtual card | 0 | | Reissue of the physical card | EUR 25 | | Inactivity (12 months) | 0 | | Account closure | 0 | As we can see the **ATM withdrawal limit for cash is quite low for the month**. Meaning this crypto debit card may not be the best option for a user that prefers spending cash. Of course, Visa cards are accepted by over 50 million merchants worldwide so it should not be much of a problem. As with most cryptocurrency debit cards, fees and limits can depend on the region you reside in. You can check all the applicable fees on [their website here](https://www.binance.com/en/support/faq/8a95adf442d646438f731ccec889b830?ref=X8XUVA60). ## Summary: High Cashback BTC Debit Card? What’s particularly interesting about the Binance Visa Card review, is that you can access a high cashback level of 8% without needing to lock up any coins. Potentially not everyone will want to receive cashback in BNB, however, it would be trivial to convert this to your favorite coin via the exchange. Furthermore, as Binance is one of the biggest cryptocurrency exchanges with high liquidity you will certainly receive the best market rates for conversions. However, if that is a breaking point for you, then take a look at [Wirex Card](https://dexplain.com/wirex-card-review-best-btc-debit-card/) as an alternative crypto debit card. **As long as you’re happy to hold BNB**, then Binance Card is a fee-free BTC debit card that can spend crypto frictionlessly with the highest cashback in the industry. Meaning any BNB holders should jump on the chance to sign up. Furthermore, you can park your BNB in the new Vaults to earn **a daily income** along with your cashback level. Currently, right now the only real disadvantage is the limited region support. However, Binance exchange is a worldwide platform which means we expect them to expand their card offering aggressively. ## **How to sign up?** Believe our Binance Visa Card Review means it is the right option for you to spend Bitcoin via a crypto debit card? [Sign up today](https://www.binance.com/en/register?ref=X8XUVA60)! **Use our referral link to receive a lifetime platform-wide 10% discount on trading fees**. If not? Check out our other [crypto card](https://dexplain.com/best-crypto-cards/) reviews. ### Plutus Card Review: Best Crypto Debit Card for ETH? URL: https://dexplain.com/plutus-card-review-best-crypto-debit-card-for-eth/ Last updated: 2021-12-02T18:59:49.000Z [Plutus Card](https://plutus.it/card?ref=dexplain.com) is a unique crypto debit card aimed at [decentralized finance (DeFi)](https://dexplain.com/tag/defi) and Ethereum enthusiasts. Read through our Plutus Card review and learn if this is the best cryptocurrency debit card for [Ethereum](https://dexplain.com/tag/ethereum) users. And if it will be suitable for you! ## What is Plutus Card? The Plutus debit card markets itself as a next-generation financial application for [cryptocurrency](https://dexplain.com/tag/cryptocurrency) users. With their account, you can manage both fiat currency (GBP or EUR) and cryptocurrencies. Excitingly, **you always remain in control of your crypto assets** and never have to deposit into the platform. Plutus achieves this by enabling you to trade peer to peer with other users via a decentralized exchange when converting between fiat and crypto. One drawback is currently the only supported cryptocurrencies are Ethereum (ETH) and [Pluton (PLU)](https://plutus.it/pluton?ref=dexplain.com). As a result, this crypto debit card is only suitable for ETH or PLU holders. **Here is how the Plutus Visa Card looks:** ![](https://dexplain.com/content/images/2021/12/Plutus-Card-Image.webp) Plutus Card works like a prepaid ETH debit card, it does not support spending crypto automatically like [Wirex](https://dexplain.com/tag/wirex-card). Additionally, you will not find support for other major cryptocurrencies such as [Bitcoin (BTC)](https://dexplain.com/tag/bitcoin) or [Binance Coin (BNB)](https://dexplain.com/tag/binance-chain). Furthermore, as this card is only available for UK or EU based residents you can’t convert your holdings to US Dollar (USD) either. Currently, the supported fiat currencies are Euro (EUR) or Sterling (GBP). On the plus side, you can sign up and create your account within minutes. And Plutus will provide you with local bank details for your fiat depending on your location. This means that Plutus Card can easily become a fiat on-ramp for your cryptocurrency spending and investing purposes. ## Plutus Card Review ### **Advantages** - Non-custodial wallet. - Load fiat 100% decentralized via PlutusDEX. - Fast verification (Be approved in 2 minutes!) - Manage your account online and via App. - Cashbacks and crypto PLU rewards. - Contactless Visa Card. - Support for Samsung and Google Pay. - No monthly fees, unless you want premium. - The account includes UK bank details or European IBAN. ### **Disadvantages** - UK and EU residents only. - Ethereum only. - No rewards or cashback for the free tier. - €9.99 Card Order fee. - 1.75% trading fee. - Low volume means large fiat top-ups are unfeasible. - Can’t instantly exchange to fiat as trading is a peer to peer. - No support for Apple Pay. ## Funding Sources You interact with your Plutus Card account using Metamask, so in that sense, you can manage Ethereum and any ERC-20 token. However, Plutus Card is not a crypto debit card that can spend your ETH instantly. First, you have to use PlutusDEX to sell your ETH or PLU for fiat. So your funding sources are only limited to Ethereum and Pluton (PLU) tokens. Once you have the fiat currency in your account, then you can load it onto your Visa Card balance. Meaning Plutus Card works is a prepaid cryptocurrency debit card very similar to [Monolith](https://dexplain.com/monolith-card-review-defi-visa-card/) or [Eidoo](https://dexplain.com/eidoo-card-review-the-best-crypto-debit-card-for-defi/). ![](https://dexplain.com/content/images/2021/12/volume-plutus-DEX.webp) The only problem is you’re at the mercy of their decentralized exchange’s low volume. If there are no traders buying then you will not be able to top up your card using Ethereum or Pluton tokens. However, you can fund your account directly with fiat currency via bank transfer – but that kind of defeats the purpose of a crypto debit card, right? ![](https://dexplain.com/content/images/2021/12/cancel-cancel.webp) Personally, I had to cancel my attempts of trying to sell ETH for fiat after several hours as there were no buyers (Note this was some months ago and volume HAS increased). > November – What to expect this month at Plutus? > > ✅ Market Maker Reveal > ✅ Tier 3 Listing Reveal > ✅ Tier 1 Sale/Listing Reveal > ✅ PLU-Fiat Swap Limit Increase > ✅ 15% Reward Promotional Offer > ✅ New Perk > > Stay tuned for all the activities here at Plutus![#Cryptoanywhere](https://twitter.com/hashtag/Cryptoanywhere?src=hash&ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) [$PLU](https://twitter.com/search?q=%24PLU&src=ctag&ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) [pic.twitter.com/1GKOQ8QHUW](https://t.co/1GKOQ8QHUW?ref=dexplain.com) > > — Plutus (@plutus) [November 2, 2020](https://twitter.com/plutus/status/1323308293905854466?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) We should note that Team Plutus is aware this is a major obstacle for their Ethereum debit card adoption. Upcoming November announcements should include a Market Maker incentive for PlutusDEX – hopefully, this will boost volume. ## Plutus Card Fees Another difference with Plutus compared to competitors such as [Wirex](https://dexplain.com/wirex-card-review-best-btc-debit-card/) and [Swipe Wallet](https://dexplain.com/swipe-crypto-debit-card-review/), is that they follow a monthly subscription model for premium accounts. For example, Premium users receive their card for **free** and do not pay **any trading fees**. Here are the fees and limits you should be aware of. ![](https://dexplain.com/content/images/2021/12/Plans.webp) As with many cryptocurrency card providers the fees and limits can change depending on your region, [learn more on their website](https://plutus.it/fees?ref=dexplain.com). However, the main benefit of paying for a premium account is to receive the 3% crypto rewards in PLU tokens. Additionally, Plutus Card premium and pro holders receive **up to 15% cashback** with select retailers. ## Summary: Best Crypto Debit Card for ETH users? I do want to like this product, there is an immense appeal to truly being bankless. Which Plutus Card enables you to do by staying 100% decentralized, even when exchanging crypto for fiat. Additionally, the option to manage my account from the website and the App is something [Monolith](https://dexplain.com/splurge/) does not provide. **However, it’s impossible to look past the fact that I was not able to spend my crypto!** You also need to factor in blockchain transaction fees when securing a crypto-fiat conversion. Additionally, the subscription-based model to enable cashback seems out of place – why not let users stake PLU tokens? Much like how [SXP tokens](https://dexplain.com/tag/swipe-wallet/) work for Swipe Visa Cards. Granted daily volume and open orders are rising, which is a great sign things will change in the future. > For those who missed it, Plutus has some incredibly exciting plans over the next months and beyond! Check out our recent Roadmap. [https://t.co/MFxCxpsAF8](https://t.co/MFxCxpsAF8?ref=dexplain.com) > > [#Cryptoanywhere](https://twitter.com/hashtag/Cryptoanywhere?src=hash&ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) [$PLU](https://twitter.com/search?q=%24PLU&src=ctag&ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) [pic.twitter.com/FUUOqRj9vT](https://t.co/FUUOqRj9vT?ref=dexplain.com) > > — Plutus (@plutus) [October 29, 2020](https://twitter.com/plutus/status/1321837151525445633?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) Furthermore, the team’s roadmap for 2021 looks very exciting with aggressive expansion planned into Asia and Latin America. As the active user count goes up, surely this will improve our overall Plutus Card review for now you may want to look at a different [DeFi crypto card](https://dexplain.com/best-crypto-cards/#Crypto%5FCards%5Ffor%5FDeFi) option. ## How to sign up? Believe the Plutus Card is the right debit card to spend crypto for you? [Open your account and sign up for free today](https://dex.plutus.it/auth/signup?ref=dexplain.com). If not? Check out our other [crypto card](https://dexplain.com/best-crypto-cards/) reviews. ### What is Aergo? The Blockchain for Business URL: https://dexplain.com/what-is-aergo-the-blockchain-for-business/ Last updated: 2021-12-02T18:55:33.000Z [Aergo Chain](https://www.aergo.io/?ref=dexplain.com) is an open-source hybrid blockchain focusing on large scale infrastructure solutions for enterprise and government level use cases. As a result, you find AERGO blends together decentralized trustless components with private centralized modules. Because, in the business sector [speed and scalability](https://dexplain.com/why-do-so-many-blockchains-rely-on-sharding-for-scalability/) are key. ## What is Aergo? The AERGO platform enables enterprises and developers to host [blockchain](https://dexplain.com/tag/blockchain) applications on the Aergo Chain. Interestingly, it will be the first blockchain platform that provides bridges to legacy programming features. For example, Lua and SQL support is in their smart contract language. The idea is that this will enable businesses to easily onboard without needing to spend a lot on retraining developers. Essentially, the platform’s design ensures companies can leverage the platform quickly to reduce their operation costs. ![](https://dexplain.com/content/images/2021/12/use-cases-aergo.webp) Businesses can choose to deploy on a private blockchain which follows a **Proof-of-Authority (PoA)** consensus algorithm. Additionally, the platform makes it easy for users to pay for enterprise-grade cloud providers to host their private dedicated nodes. Alternatively, use the public blockchain which implements a **Delegated Proof-of-Stake (DPoS)** mechanism. Through the use of [sidechain technology](https://dexplain.com/will-polkastarter-be-bigger-than-uniswap/), Aergo Chain can process transactions concurrently. The team estimates it can confirm **over 1 million transactions** per second. ## Aergo Chain Example Usage One thing to know is that every future service built by [Samsung backed Blocko](https://en.blocko.io/?ref=dexplain.com) will use Aergo Enterprise. As a result, all their services will require using AERGO tokens to access. An example use case that is already in production is for instant fingerprint verification. [Lotte Card](https://www.lottecard.co.kr/?ref=dexplain.com), a Korean credit card company with **over 25 million users**, is developing a security solution to combat fraud. It matches the identity of the credit card owner with a fingerprint submitted at checkout. Its believed this type of integration powered by Aergo Chain will lower Lotte Card’s costs for fraud protection by 90%. Other well-known clients include companies such as Hyundai Motor Group, Korea Stock Exchange, and Shinhan Bank. ## AERGO Token Use Cases Currently, the token lives on [Ethereum](https://dexplain.com/tag/ethereum), however, once the platform is live it will migrate to its mainnet. Aergo token is primarily a utility token, meaning any businesses wishing to use the platform will need tokens to pay for services. **Known use cases for AERGO tokens are as follows.** - Deploying and running smart contracts. - Paying for additional products or services such as hosting your application. - Rewards for stakers participating in the DPoS consensus algorithm. - Payment method for using Aergo Marketplace and Hub, technical support, or to access other platform tools. ## Final Thoughts Aergo is a new generation blockchain that is suitable for all forms of businesses. Essentially, the team aims to facilitate developers and companies to quickly deploy their applications in the cloud (which is secured by Aergo Chain). Furthermore, these applications can be public or private meaning the network [can be used by companies that need to respect user privacy laws](https://dexplain.com/what-is-lition-gdpr-compliant-sidechains/). ![](https://dexplain.com/content/images/2021/12/early-investors.webp) If the platform sees wide adoption, then the tokens will quickly see buying pressure from more developers joining the network. Perhaps the most important thing to know right now is that the platform is supported by **Blocko** which is a leading blockchain company backed by Samsung. As a result, AERGO already has a rich base of well-known capital firms investing in the project. ### Wirex Card Review: Best BTC Debit Card? URL: https://dexplain.com/wirex-card-review-best-btc-debit-card/ Last updated: 2021-12-02T18:52:10.000Z [Wirex](https://wirexapp.com/r/f6b999ee74134b3f89e0f3386be36db2?ref=dexplain.com) works much like a bank account, only it provides support for major cryptocurrencies also. As a result, you will see Wirex market itself as the **crypto-friendly currency account**. Here we will focus on the new Wirex Mastercard travelcard as it may just be the best BTC debit card available on the market. Excitingly, the Wirex cryptocurrency mastercard is available in **31 countries** including regions like Europe, UK, and APAC. Read through our Wirex Card Review to learn if this widely available [crypto debit card](https://dexplain.com/best-crypto-cards/) is right for you. ## What is Wirex Card? Wirex Card is a revolutionary cryptocurrency debit card that enables users to spend crypto instantly. Unlike [Monolith](https://dexplain.com/monolith-card-review-defi-visa-card/), there is no need to manually plan for topping up card balances. The new Wirex Mastercard will automatically make the exchange at the point of sale. Additionally, there is next to no fees as the card will exchange into the local currency to avoid any foreign transaction charges. Wirex Card enables **users to spend 10 digital currencies and 9 traditional fiat currencies**. Additionally, you can make cross border payments using SEPA, SWIFT and Faster Payments to anywhere in the world. ![](https://dexplain.com/content/images/2021/12/wirex-mastercard-spend-crypto.webp) Another plus is if you’re holding the native Wirex WXT token, you can participate in staking to earn rewards. This is great to see and more user friendly than competitors, for example, despite [Swipe’s native SXP token](https://dexplain.com/swipe-crypto-debit-card-review/) being stakable there is no functionality to do this inside the app. The benefit of holding WXT enables you to receive higher cashback and reduced fees with your cryptocurrency mastercard. | Amount | Fee Discount | Enhanced Cashback | | ----------- | ------------ | ----------------- | | 50,000 WRX | 25% | 0.75% | | 100,000 WRX | 50% | 1.00% | | 500,000 WRX | 100% | 1.50% | As it stands we do not know if you just have to hold the WXT tokens, or lock them up. Future benefits include reduced ATM fees, SWIFT transfer fees, and account management fees. ## Wirex Card Review ### **Advantages** - Fast KYC verification (under 5 mins). - 24/7 customer support team. - Up to 2% cashback in BTC. - Easy one-click buying and selling for supported cryptocurrencies. - The browser and mobile app for account management. - [High trustpilot rating](https://uk.trustpilot.com/review/wirexapp.com?ref=dexplain.com) (6,600+ reviews) - [UK FCA e-money license](https://wirexapp.com/blog/post/wirex-earns-fca-e-money-licence-0034?irgwc=1&utm%5Fsource=Impact&utm%5Fmedium=1322494&utm%5Fcampaign=8373&clickid=whEUSo07kxyLWzVwUx0Mo3EAUkE2iIyyBULTWY0&mpid=1322494). - Upcoming **Wirex Mastercard** will be available in 31 countries. - Contactless payments. - Free sign up and delivery. - Up to 6% APR on staking Wirex token (WXT) - Offer crypto-friendly business accounts. - Zero foreign exchange fees. - Individual fiat account details (IBAN). ### **Disadvantages** - Currently no support for USA based residents. - Card maintenance fee of £1 for EEA and UK customers. - DeFi enthusiasts may not like the wallet being custodial. - Generally not the best price for buying and selling Bitcoin (BTC). - Only one stablecoin supported (Dai). - No support for Google, Samsung, Apple pay. ## Support Cryptocurrencies Currently, you can buy, sell, transfer, and spend the following 10 digital assets using your Wirex crypto mastercard: - Bitcoin (BTC) - Ethereum (ETH) - Litecoin (LTC) - Ripple (XRP) - Waves (WAVES) - Wollo (WLO) - Dai (DAI) - Nano (NANO) - Stellar (XLM) - Wirex Token (WRX) Though these are all major cryptocurrencies, we find they’re all first-generation cryptos. Perhaps this is done to ensure liquidity is deep enough for your Bitcoin debit card to make payments with low commissions. Ultimately, as the [DeFi sector](https://dexplain.com/tag/defi) is growing rapidly on [Ethereum](https://dexplain.com/tag/ethereum), [Binance Smart Chain](https://dexplain.com/tag/binance-chain), and [Polkadot](https://dexplain.com/tag/polkadot) – it would be great to see more assets added in the future. However, one of the key features of a Wirex account is that it can also hold many fiat currencies for your cryptocurrency mastercard: - AUD (Australian Dollar) - CAD (Canadian Dollar) - CHF (Swiss Franc) - CZK (Czech Koruna) - HKD (Hong Kong Dollar) - JPY (Japanese Yen) - MXN (Mexican Peso) - SGD (Singapore Dollar) Which makes it a very attractive option if you travel regularly around the world. ## Wirex Card Fees From our experience, the fees appear reasonable and quite competitive for a cryptocurrency mastercard. Like most multi-region Bitcoin debit card products, fees can depend on where you live. Therefore, we do recommend you check [Wirex’s website](https://wirexapp.com/fees-and-limits?ref=dexplain.com) for more details on fees and limits. One thing to note is that if you reside in the UK or EU then there is a monthly account management fee of **£1/€1.20/$1.50** – and this is paid even if you don’t use your account. **Here are a couple of fees or limits I believe should be highlighted:** | Fee or Limit | Charge | | --------------------------------------- | -------------------------------------------- | | ATM charge (in Europe) | £1.75/€2.25/$2.50 | | ATM charge (outside Europe) | £2.25/€2.75/$3.50 | | ATM withdrawals | £250/€250/$250 per day | | Cashback (in-store) | £50 per day | | Credit/Debit card top-up | $5000 per day (equivalent in local currency) | | Maximum card balance | £15000/€16000/$20000 | | Daily Spend Limit | £7500/€8000/$10000 | | Daily Transfer Limit (UK bank transfer) | £3000 per day | As we can see it is perhaps not the greatest crypto debit card for making regular ATM withdrawals, as those fees could quickly add up. However, remember Wirex can transfer cash to a regular bank account meaning that could be your route to avoiding ATM fees. ## Summary: Best Bitcoin Debit Card? Wirex is a convenient and beginner-friendly option that combines traditional finance and cryptocurrency fluidly. With all of its account banking and transfer options, you may be able to stop using your traditional bank completely and migrate to this cryptocurrency mastercard completely. It is the only BTC debit card available with full support in 31 countries, including many Asian countries. **Wirex Card is looking like one of the best crypto debit cards on the market:** 1. Buying and selling Bitcoin (BTC) securely at competitive market rates (roughly 2.5% exchange fees). 2. Fast sign up and verification. 3. World traveler, Mastercard is accepted everywhere and Wirex has no foreign transaction fees. 4. Cashback in BTC from 0.5% to 2% depending on how much WRX you hold. ## How to sign up? Believe the Wirex Mastercard Card is the right option for your crypto debit card? [Sign up via the following link](https://wirexapp.com/r/f6b999ee74134b3f89e0f3386be36db2?ref=dexplain.com) to earn $10 in Bitcoin! **It takes less than 5 minutes**. If not? Check out our other [crypto card](https://dexplain.com/best-crypto-cards/) reviews. ### What is Injective Protocol? Layer 2 DeFi Protocol for Derivatives Exchange URL: https://dexplain.com/what-is-injective-protocol-layer-2-defi-protocol-for-derivatives-exchange/ Last updated: 2021-12-02T17:39:05.000Z [Injective Protocol](https://injectiveprotocol.com/?ref=dexplain.com) is a cross-chain [decentralized finance (DeFi)](https://dexplain.com/tag/defi) protocol to power deep liquidity trading across various financial products. The protocol aims to build a [decentralized exchange (DEX)](https://dexplain.com/tag/decentralized-exchange) that matches the liquidity and convenience found on centralized exchanges (CEXs). As a result, it will provide users with features such as perpetual swaps, futures, and spot trading. Additionally, it provides rewards, staking, and liquidity mining through the platform’s governance token INJ. ## What is Injective Protocol? Injective Protocol uses technology in the [Ethereum](https://dexplain.com/tag/ethereum) and Cosmos ecosystem. It features fast [cross-chain](https://dexplain.com/what-is-darwinia-network-cross-chain-transfers-made-easy/) trading without scalability issues or expensive gas fees. In fact, with its **Tendermint Proof of Stake** consensus algorithm, Injective Protocol will provide decentralized trading with **zero gas fees**. This happens by leveraging Cosmos SDK module’s native interoperability [peg zones](https://blog.cosmos.network/the-internet-of-blockchains-how-cosmos-does-interoperability-starting-with-the-ethereum-peg-zone-8744d4d2bc3f?ref=dexplain.com). Essentially, the Injective Protocol intends to create a network that is censorship resistant, publicly verifiable, trustless, and front-running resistant. ## Key Features - **Layer 2**: Injective Protocol is 100% decentralized much like a DEX on Ethereum, but charges zero gas fees and achieve fast trading speeds. - **Any Market**: With just a price feed, Injective enables users to create and trade on any derivative market. Meaning users will have opportunities to trade any asset or commodity. - **Cross Chain**: Both ETH and ERC-20 tokens will be transferable via a bridge (in both directions) between Ethereum and the Injective Chain. - **Yield Generation**: Injective can also provide users with DeFi yield generating opportunities by accessing Layer-1 blockchain network products such as [Curve](https://dexplain.com/what-is-curve-finance-and-crv/) or [Yearn](https://dexplain.com/tag/yearn-finance) on Ethereum. - **Liquidity Mining**: The protocol will attract continuous growth that users can capture via its native liquidity mining programs. - **Community Governance**: INJ token holders will form a Decentralized Autonomous Organization (DAO) to vote on new listings, network changes, and protocol upgrades. ## Injective Token (INJ) Use Cases The protocol’s native token INJ has a total supply of 100 million tokens. Currently, there are only around 15.2 million tokens in circulation. Furthermore, team plans to distribute INJ tokens over the next 3 years, with the bulk going towards ecosystem development and community growth. As a result, you should keep your eyes open for some attractive [yield farming opportunities](https://dexplain.com/tag/yield-farming) once the platform goes live. **Other use cases for INJ tokens are as follows.** - **Discounts:** Users holding INJ will receive a discount on trading fees. - **Staking:** Earn rewards in INJ tokens by participating in consensus via staking**.** - **Governance**: Injective Protocol will be a community-driven platform, meaning the INJ token provides voting power over proposals and parameters. - **Passive Income**: There is a second form of staking where users who choose to lock up their INJ tokens for set periods can receive passive income. - **Market Making**: Deep liquidity is the key to success for a decentralized trading protocol, therefore, rewards in INJ tokens will be available to incentivize liquidity providers. ## Final Thoughts Centralized exchanges continue to face regulation and security concerns from their users. Just take a look at [BitMex’s recent legal troubles over money laundering](https://www.reuters.com/article/usa-crime-bitmex-idUSKBN26N08O?ref=dexplain.com) or [OKEx suspending withdrawals](https://www.coindesk.com/okex-suspends-withdrawals?ref=dexplain.com). Given that Injective Protocol’s design should provide the liquidity of a CEX along with its ease of use while ensuring user funds remain in their control, the recipe looks like a winner. Furthermore, the focus on immediate cross-chain interactions with [DeFi enthusiasts on Ethereum](https://dexplain.com/what-is-unilayer-pro-trading-tools-on-uniswap/) sounds very promising for quick INJ adoption. ### What is PRIA? Ultra-deflationary Tokenomics URL: https://dexplain.com/what-is-pria-ultra-deflationary-tokenomics/ Last updated: 2021-12-02T19:44:01.000Z [PRIA](https://pria.network/?ref=dexplain.com) is an [Ethereum](https://dexplain.com/tag/ethereum) token that takes a [gamified approach](https://dexplain.com/tag/crypto-gaming) to explore how far we can take an ultra-deflationary monetary policy for digital assets. Here we will take a look at what is PRIA token and the key rules of its tokenomics to understand the game. ## What is PRIA Token? Launched by [DeFi Labs](https://twitter.com/defi%5Flabs%5F?ref=dexplain.com), the PRIA project takes onboard innovative [decentralized finance (DeFi)](https://dexplain.com/tag/defi) ideas from [elastic supply assets](https://dexplain.com/what-is-based-money-the-defi-game-of-chicken/) to incentivize token holders’ continuous market participation. It works like the following on every transaction: 1.25% is burned, 0.85% goes to the airdrop wallet, and 0.5% goes to the developer. Every 200 transactions the airdrop amount will distribute **automatically** to everyone who qualifies. You can qualify for the airdrop if you make a trade or transfer of 0.25% of the balance of the airdrop wallet. There are also restrictions in place to force market participants such as the airdrop wallet cannot exceed 5% and the developer wallet cannot exceed 1.5% of the total supply. ## Minting and burning The next thing you need to understand about PRIA is that it never follows an inflationary monetary policy, however, it will go through **turns of minting instead of burning**. During Turn 1, the maximum supply is set at 100,000 PRIA and the minimum supply is 10,000 PRIA. Once the token burns down to its minimum supply then that marks the end of turn one. At this point, PRIA does the reverse and will mint tokens on every transaction towards its maximum supply. **However, at the end of a turn depending on the direction, either the maximum and minimum supply is halved**. ![](https://dexplain.com/content/images/2021/12/community-dashboard-pria.webp) For example, when PRIA enters Turn 2, **a turn of expansion**, the maximum supply is 50,000 PRIA. And once the token hits the new limit, Turn 3 would start as **a turn of contraction** (burning) again, but now the minimum supply is 5,000 PRIA. And so forth! All the way to 1.2 PRIA. ## Inactivity Burn In the past, we have seen immense hype around [deflationary assets](https://dexplain.com/tag/deflationary-tokens). However, once that hype passes then the burn rate doesn’t keep up to drive the price up. Especially, if the team doesn’t have a strong marketing presence or community behind it. PRIA solves this by using an **inactivity burn** mechanism to enforce its ultra-deflationary policy. For example, if you don’t make a trade after 35 days then you will permanently lose 25% of your tokens. **After 60 days, you could lose all of your tokens**! Even the developer wallet faces this mechanism, meaning everyone is on the same level. Tokens in contracts, such as the [Uniswap](https://dexplain.com/tag/uniswap) trade contract can also be burned due to inactivity (zero trades). However, there is a longer period before this kicks in so its unlikely to ever happen. Now you know all the key rules of PRIA you should be ready to [play the game](https://info.uniswap.org/token/0xb9871cb10738eada636432e86fc0cb920dc3de24?ref=dexplain.com). Good luck! ### DeFi Farmers FOMO into Keep3r Network Launch URL: https://dexplain.com/defi-farmers-fomo-into-keep3r-network-launch/ Last updated: 2021-12-02T17:35:04.000Z [Keep3r Network Token](https://info.uniswap.org/token/0x1ceb5cb57c4d4e2b2433641b95dd330a33185a44?ref=dexplain.com) pumps over 3,000% after DeFi farmers jumped into [Andre Cronje’s](https://twitter.com/AndreCronjeTech?ref=dexplain.com) new project heavily. It appears the [Yearn Finance](https://dexplain.com/tag/yearn-finance) creator is seen as a holy grail when it comes to DeFi development. Because despite the project being in beta with no liquidity lock traders are accumulating KP3R as fast as they can. ## KP3R Token Launch A decentralized job platform called Keep3r Network is the latest project launched by the [YFI token](https://dexplain.com/yearn-finance-vaults-explained/) founder on October 28th. As expected, DeFi enthusiasts on [Ethereum](https://dexplain.com/tag/ethereum) were quickly seen buying up as many KP3R tokens as they could. The token was selling on Uniswap at around $10 on the launch, within six hours it hit $150 and a few hours later KP3R was trading at $180\. Buying pressure continued for a steady 24 hours reaching [an all-time high of $380](https://www.coingecko.com/en/coins/keep3rv1?ref=dexplain.com) before the price saw a pullback. The quick price pump seems to have come off the back of Andre Cronje’s increased fame in the crypto community. Because this time there was more than just [DeFi farmers](https://dexplain.com/tag/yield-farming) entering the fray, as well known [BTC](https://dexplain.com/tag/bitcoin) traders discussed the action on crypto Twitter. > $KP3R > > This past week I stayed up all night because I thought Andre was about to launch his next coin... > > Instead, he launches it at 4 a.m. my time when I'm sleeping > > I missed out early but a break above $167 here could be a good sign for continuation to the upside [pic.twitter.com/2Ly8ckCg4A](https://t.co/2Ly8ckCg4A?ref=dexplain.com) > > — Rager 📈 (@Rager) [October 28, 2020](https://twitter.com/Rager/status/1321496558899220480?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) As of the time of writing, KP3R has gone through a correction, trading at around $160. ## What is Keep3r Network? [Keep3r Network](https://keep3r.network/?ref=dexplain.com) is a sort of freelancing platform powered by smart contracts, where KP3R tokens will be issued as rewards for completing jobs. The **Keepers** refer to external actors, people, or blockchain teams that will complete work. And then **Jobs** which refers to smart contracts the platform will set up to find the external actors to complete the work. ![](https://dexplain.com/content/images/2021/12/keeper.webp) Cronje does warn users that the project is **in beta and bugs may exist** despite the code being audited. However, this does not seem to have stopped traders speculating on the price. All reasoning for trading tokens on [Uniswap](https://dexplain.com/tag/uniswap) safely seems to have been put aside. For example, Cronje’s deployer address controls **over 98% of the KP3R Uni LP tokens**. > Yearn Deployer owns 98.17% of Uni LP tokens (ETH/Keep3r pair). If he exits now, he would get: 7468 ETH and 20157 Keep3r which he could sell for 4360 ETH. Total profit = 7468+4360-700= 11128 ETH [https://t.co/9DfpU8FZ6b](https://t.co/9DfpU8FZ6b?ref=dexplain.com) > > — Joe LhotsΞ (4,4) (@JozoJesko) [October 28, 2020](https://twitter.com/JozoJesko/status/1321440282827755523?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) Any other [DeFi project](https://dexplain.com/tag/defi) that launched in a similar fashion would immediately face countless claims of an upcoming rug pull. Luckily for Cronje being **DeFi’s golden developer** comes with certain privileges! ### What is Parsiq? Real-Time Blockchain Monitoring URL: https://dexplain.com/what-is-parsiq-real-time-blockchain-monitoring/ Last updated: 2021-12-02T17:37:05.000Z [Parsiq](https://www.parsiq.net/?ref=dexplain.com) platform offers various types of blockchain monitoring and analytic tools which it combines with a workflow automation platform. ## What is Parsiq? The Parsiq platform provides users with an easy way to monitor [Blockchain](https://dexplain.com/tag/blockchain) operations and perform an automated action. Did your [Ethereum](https://dexplain.com/tag/ethereum) address receive a deposit? Boom, receive a notification on telegram. Did your favorite [DeFi token](https://dexplain.com/tag/defi) just see a whale transfer? Boom, receive an email. ![](https://dexplain.com/content/images/2021/12/available.webp) And it is much more than just notifications, users can transform the data to be delivered to their favorite off-chain application or web service. Doing accounting in [DAI stablecoin](https://dexplain.com/binance-lists-maker-mkr-and-dai-more-defi-tokens-enter-cefi/)? Automate the transactions into your Google spreadsheet. Essentially, you can bridge the blockchain and off-chain without needing to write any code. These types of **Smart-Triggers** are essential to keeping data organized and accessible. Meaning Parsiq has use cases from personal users, small businesses to large enterprises. ## PRQ Tokenomics [PRQ token](https://etherscan.io/address/0x362bc847A3a9637d3af6624EeC853618a43ed7D2?ref=dexplain.com) powers the platform, essentially, if you want to use the platform then you will need to be holding PRQ tokens. The more actions you want to monitor on-chain, the more PRQ you will need to hold in your Ethereum wallet. Additionally, users can create **Public Projects** which other users can subscribe to. This adds a [gamification](https://dexplain.com/what-is-vampire-protocol-gamification-of-a-stablecoin/) element to the PRQ token, as when you subscribe to an automation workflow, you pay a small fee to the creator. Check out [Flashr](https://portal.parsiq.net/flashr?ref=dexplain.com), a whale transfer notification tool, which showcases how public projects can look (and is currently free to use!). ![](https://dexplain.com/content/images/2021/12/workflow-example.webp) Additionally, the **O2 Protocol** exists for power users who may not find it feasible to continuously market buy PRQ tokens. This is a pool of risk-free PRQ lending and collateral-less borrowing, risk-free because the PRQ tokens are never transferred. As a result, you could compare it to how some blockchains, [such as VITE](https://dexplain.com/what-is-vite-network-and-vitex/), allow you to lease transaction power. Furthermore, lenders will be able to pool PRQ to earn rewards from the generated fees. ## Looking to the future **Binance Smart Chain…** Parsiq looks like it will be scaling onto [BSC](https://dexplain.com/tag/binance-chain) soon enough. As the team announced they’ve [received funding from Binance](https://twitter.com/parsiq%5Fnet/status/1321813454110531587?ref=dexplain.com) via the Accelerator Fund. - DeFi on the BSC chain is [growing at a rapid pace](https://dexplain.com/farming-on-binance-smart-chain-with-pancakeswap/), meaning third party analytic tools will be in big demand. Farmers need to track their operations closely! **PRQBOOST…** the team has also recently launched a PRQ/ETH [liquidity mining](https://dexplain.com/tag/yield-farming) program for their [Uniswap](https://dexplain.com/tag/uniswap) pool. This involves use of a second token PRQBOOST which is stackable to boost users’ reward level. Initially, the new token will be airdropped, though all the rewards mechanisms are not yet known. Watch Parsiq’s announcements closely! ### What is UniLayer? Pro Trading Tools on Uniswap URL: https://dexplain.com/what-is-unilayer-pro-trading-tools-on-uniswap/ Last updated: 2021-12-02T17:32:22.000Z [UniLayer](https://unilayer.app/?ref=dexplain.com), a decentralized trading platform built on top of [Uniswap](https://dexplain.com/tag/uniswap), provides users with professional-trading level tools that you generally only find on centralized exchanges. Recently the platform passed a security audit by [Hacken](https://hacken.io/?ref=dexplain.com), with no severe or critical issues found. As a result, it seems like the perfect opportunity to learn what UniLayer is and its [LAYER](https://info.uniswap.org/token/0x0fF6ffcFDa92c53F615a4A75D982f399C989366b?ref=dexplain.com) tokenomics. ## What is UniLayer? UniLayer is a [DeFi](https://dexplain.com/tag/defi) app that brings advanced trading features to Uniswap that veteran crypto traders from the centralized space will be familiar with. Such as automated trading, using UniLayer lets you create buy and sell orders for specific token prices. It also features scheduling, which enables traders to queue trades to be executed at a particular time of day. This feature resembles how [limit orders for Uniswap work on Dharma](https://dexplain.com/dharma-adds-uniswap-limit-order-feature/). As we all know the [cryptocurrency](https://dexplain.com/tag/cryptocurrency) markets never do sleep. So having access to decentralized automated trading is a big step forward. ![](https://dexplain.com/content/images/2021/12/unilayer-UI.webp) Additionally, the UniLayer UI provides dashboards for live charts, order books, and analytics. All features that traders use on a daily basis via platforms such as [Binance](https://dexplain.com/tag/binance-exchange). ## Control Pooled Liquidity Perhaps one of the more exciting features for Uniswap enthusiasts is automated lending management. UniLayer can automate the process of adding or removing liquidity from a pool once certain metrics are met. ![](https://dexplain.com/content/images/2021/12/lending-unilayer.webp) As a result, you have much more control over your [pooled liquidity](https://dexplain.com/uniswap-launches-uni-token-and-liquidity-mining/). For example, to protect yourself from massive impermanent loss from volatile assets. You could automate the process of pulling tokens out of the pool at certain price points. ## LAYER Tokenomics UniLayer’s native token LAYER plays an important role in its ecosystem via **Flash Staking**. This is a unique reward model that aims to promote the trading activity of a token. Contrary to conventional staking models with flash staking LAYER stakers will receive the full reward instantly. ![](https://dexplain.com/content/images/2021/12/flash-staking-diagram.webp) It works by choosing how much LAYER to stake against an ERC20 token, along with locking up the LAYER tokens for a time period. These two factors will then calculate the stakers instant reward amount. As a result, you will find the value of LAYER will become dependent on the value of the ERC20 tokens available in the staking portal. Furthermore, the use case provides increasing buying pressure as the staking portal gains adoption. Additionally, teams will pay a fee in LAYER to set up their staking portal. ## Looking to the future UniLayer is under active development with a lot of exciting features on its roadmaps such as fiat on-ramps, launchpads, and [NFTs](https://dexplain.com/tag/non-fungible-tokens). Currently, it looks like a good bet that trading volume on Uniswap will continue to go up. Meaning the demand for tools such as UniLayer will increase massively. However, we have to note that UniLayer will be at whim to [Ethereum](https://dexplain.com/tag/ethereum) scaling issues that may slow down the adoption of their tools. For example, if liquidity and users migrate to a [Layer 2](https://dexplain.com/curve-finance-reveals-layer-2-solution-with-zksync/) solution such as [Loopring](https://dexplain.com/loopring-the-solution-to-high-ethereum-gas-fees/) then UniLayer may no longer have much of a use case. It would be great to hear if the team has plans of integrating other DEXs into their platform because the LAYER flash staking design is very unique. ### What is OpenDeFi? Tokenizing Real-World Assets URL: https://dexplain.com/what-is-opendefi-tokenizing-real-world-assets/ Last updated: 2021-12-02T19:37:09.000Z [OpenDeFi](https://opendefi.finance/?ref=dexplain.com) aims to bridge the gap between real-world physical assets and [decentralized finance (DeFi](https://dexplain.com/tag/defi)). Developed by Oropocket, the protocol’s governance **ORO** will soon become publicly available via their upcoming [Uniswap](https://dexplain.com/tag/uniswap) listing. Great time to learn about the platform! ## What is OpenDeFi? While DeFi platforms continuously see a massive rise in adoption, the platforms mainly focus on cryptocurrency assets that operate entirely in the [blockchain](https://dexplain.com/tag/blockchain). As a result, users miss out on a whole sector of traditional financial institutions notably commodities such as silver and gold. OpenDeFi Protocol enables ownership of **real-world** assets on the blockchain by tokenizing them. Additionally, as these assets will live on-chain as tokens, developers will be able to create applications to generate and capture more value. ## Benefits of OpenDeFi For starters investing in physical assets through traditional routes is quite difficult. Gold doesn’t usually come in small amounts and it is heavy. Furthermore, commodities are regularly a target for counterfeit attacks. By Tokenizing gold and silver bars with OpenDeFi, it enables users to trade them instantly, much like how you transfer [Ethereum](https://dexplain.com/tag/ethereum) or other cryptocurrencies. **Key benefits of OpenDeFi:** - Users have a decentralized path to gaining exposure to real-world assets such as gold and silver. - Instantly trade between different asset classes with low slippage and no liquidity barriers. - Take out instant crypto loans using your assets as collateral. - Earn rewards for participating in the network via liquidity mining programs. - Earn interest from staking. - Designed for cross-chain support, not stuck on one network. It’s important to understand that OpenDeFi is not a synthetic asset generation protocol such as [PerlinX](https://dexplain.com/perlinx-the-launch-of-the-next-defi-giant/). Meaning the tokenized gold bars are not minted out of thin air to just track an asset price. As a result, there are real gold bars in a secure vault with independent daily audits and it complies with international regulations. A process OpenDeFi shows is possible via their proof of concept: Oropocket. ## What is OroPocket? You could see OroPocket as the backend infrastructure for OpenDeFi, essentially, it is the wallet where users can manage their tokenized assets. Whereas holding fiat currency loses value every day through inflation, OroPocket lets you keep your money in real-world assets. **Through OroPocket users can do the following:** - Transfer assets around the world instantly. - Spend instantly with an asset-backed [crypto debit card](https://dexplain.com/tag/crypto-cards). - Stake to receive a flash loan. - Earn yield on all the assets held in the wallet. All the tokens held in OroPocket are 100% insured, backed by physical assets held by a custodian (not the company), and audited every day by third parties. ## Looking to the future: ORO Token ORO the governance token for the platform will [start trading on Uniswap this month](https://blog.oropocket.com/announcement/announcing-opendefi-token-listing-oro-on-uniswap/?ref=dexplain.com). As development is community-driven, token holders will be able to vote on decisions that concern protocol parameters and which assets are available. ![](https://dexplain.com/content/images/2021/12/opendefi-partners.webp) Investors interested in joining the public sale on Uniswap should note the following: - The initial supply is 100,000,000 ORO and [the tokenomics are inflationary](https://openfinance.oropocket.com/oro-tokens/tokenomics?ref=dexplain.com). - There are plans for buybacks and burning events, though this will only really start once the protocol is live. - OpenDeFi went through a round of private investment [which raised $1 million](https://blog.oropocket.com/announcement/defi-startup-opendefi-announces-1-million-usd-funding-round/?ref=dexplain.com). A percentage of these tokens will unlock during TGE (Token Generation Event). Currently, the mainnet launch will focus on tokenizing Gold & Silver. However, the team intends to add other assets such as stocks, exchange-traded funds, wine, whisky, and real estate. Furthermore, the development team is building on Ethereum along with using Matic and Tezos as a Layer 2 solution. Excitingly, this means the platform should not face scalability issues caused by high network fees and congestion. ### Monolith Card Review: DeFi Visa Card URL: https://dexplain.com/monolith-card-review-defi-visa-card/ Last updated: 2021-12-02T17:28:51.000Z [Monolith](https://monolith.xyz/?ref=dexplain.com) is the first non-custodial wallet that provides the financial independence of [DeFi](https://dexplain.com/tag/defi) connected to a Visa debit card. Essentially, it is a 100% decentralized [Ethereum (ETH)](https://dexplain.com/tag/ethereum) wallet that enables fluid spending of cryptocurrency by topping up a Visa card. Here will review the Monolith Card to explore if it is a viable [crypto debit card](https://dexplain.com/best-crypto-cards/) solution for you. ## What is Monolith Card? Monolith Card is an innovative crypto debit card aimed at DeFi enthusiasts on Ethereum. The first thing to know is that it does not support [Bitcoin (BTC)](https://dexplain.com/tag/bitcoin). However, the wallet supports ETH and all ERC-20 tokens. Meaning you can hold [Aave aTokens](https://dexplain.com/aave-protocol-overtakes-maker-with-over-1-5-billion-locked/) to earn interest or hold Bitcoin in the form of [renBTC](https://dexplain.com/ren-renbridge-and-renvm-everything-you-need-to-know/). You can use Monolith to buy [Maker’s DAI stablecoin](https://dexplain.com/binance-lists-maker-mkr-and-dai-more-defi-tokens-enter-cefi/) instantly with **zero trading fees**. However, it can’t be used to buy other cryptocurrencies with fiat. ![](https://dexplain.com/content/images/2021/12/monolith-dai-onramp-1.webp) The idea is that by bringing decentralized financial products together with a Visa debit card, users can transition to becoming bankless. You load up your Monolith Card by trading ERC-20 tokens for fiat currency (GBP or EUR). And there are no purchase fees when spending GBP or EUR, as long as it’s not a foreign currency transaction. ![](https://dexplain.com/content/images/2021/12/monolith-card-1.webp) Uniquely, the Monolith Card is connected to a non-custodial Ethereum contract wallet. This means **you never give up ownership of your cryptocurrency**. When you install the App, you will go through the wallet set up to create your DeFi smart contract wallet. This gives you a great amount of control, but it does mean you alone are responsible for keeping your private key safe. Essentially, there is no password reset functionality: if you lose your recovery phrase then your funds will be lost! ## Monolith Card Review ### **Advantages** - Accepted pretty much worldwide as its Visa card. - No monthly fees. - Sign up and delivery are FREE. - Contactless payment support. - Supports PayPal, Google Pay, and Curve. - In-built crypto on-ramp for buying DAI stablecoin. - Swap between ERC-20 tokens quickly through the apps DEX aggregator. - Non-custodial Ethereum (ETH) contract wallet. ### **Disadvantages** - No rewards or cashbacks for using the card. - Gas prices on Ethereum make loading small amounts pointless. - Up to 2% top-up fee to load the card. - Requires manual preloading into fiat. - Currently, the card is only available for UK and EU residents. ## Funding Sources Though you can hold any tokens in the wallet, only a select few are available to top-up your card. These are the Ethereum based tokens you can exchange for fiat: - Ethereum (ETH) - Monolith (TKN) - Dai (DAI) - DigixDAO (DGD) - Digix Gold Token (DGX) - Maker (MKR) - Tether (USDT) However, don’t worry if your preferred tokens are not on the list. Monolith Wallet has an in-built DEX aggregator which is powered by Paraswap. As a result, you can easily swap to a supported funding source when you wish to top-up your card. > We're delighted to introduce our next upgrade: > > 💱 Swap on 10+ decentralised [#exchanges](https://twitter.com/hashtag/exchanges?src=hash&ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com), for 0 extra fees, straight from your [#wallets](https://twitter.com/hashtag/wallets?src=hash&ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) > > 🔮 Get the best rates thanks to [@paraswap](https://twitter.com/paraswap?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) [$TKN](https://twitter.com/search?q=%24TKN&src=ctag&ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) [$ETH](https://twitter.com/search?q=%24ETH&src=ctag&ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) [$DAI](https://twitter.com/search?q=%24DAI&src=ctag&ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) [$USDC](https://twitter.com/search?q=%24USDC&src=ctag&ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) [$LINK](https://twitter.com/search?q=%24LINK&src=ctag&ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) [$REN](https://twitter.com/search?q=%24REN&src=ctag&ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) & many others[#ethereum](https://twitter.com/hashtag/ethereum?src=hash&ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) [#DeFi](https://twitter.com/hashtag/DeFi?src=hash&ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) [#DEX](https://twitter.com/hashtag/DEX?src=hash&ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com)[https://t.co/s8xUoNxpvw](https://t.co/s8xUoNxpvw?ref=dexplain.com) > > — Monolith (@monolith\_web3) [June 26, 2020](https://twitter.com/monolith%5Fweb3/status/1276489778368786433?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) You can learn more about the token swapping process [here](https://support.monolith.xyz/hc/en-us/articles/360007238738-How-can-I-swap-tokens-and-what-are-the-fees-in-the-Monolith-Wallet-?ref=dexplain.com). ## Monolith Card Fees There are **no monthly management fees** and setting up your DeFi Visa Card account is **free**. There is no transaction fee when using the card’s fiat currency, but you will pay a 1.75% transaction fee if it’s a foreign currency transaction. This is reasonable, compared to a bank, though some competitor’s bitcoin debit cards do not incur these charges. Here are other fees users should be aware of for the EUR Monolith Card. | Fees | GBP Monolith Card | | -------------------------- | ---------------------------------------------------- | | ATM Charge (GBP) | 2 FREE withdrawals, thereafter €1.50 per withdrawal. | | ATM Charge (International) | €1.50 (in EUR)Approx. €2.00 (other currencies) | | ATM Withdrawal Limit | €350 per day | | Card Loading Fee | Normally 1%0% if using DAI, USDC, or USDT | | Community Contribution | Normally 1%0% if using TKN | | Daily Spend Limit | €7600 | And here are the spending limits to be aware of: ![](https://dexplain.com/content/images/2021/12/monolith-spending-limits-1.webp) Unfortunately, this is the worst part about Monolith, as compared to [Swipe Wallet](https://dexplain.com/tag/swipe-wallet/) or [Wirex](https://dexplain.com/wirex-card-review-best-btc-debit-card/) the card top-up fees are higher. You can partially eliminate it by using DAI or USDT to top up your card, but you will always pay at least 1% in fees. And that is before you take into account network transaction fees. The **community contribution fee** is always applicable unless you’re topping up the card with Monolith (TKN). This is a fee that goes into the community chest. However, if you’re a TKN holder then this might not be a bad thing. Token holders can choose to burn their TKN and receive a proportion of what’s in the community chest. If Monolith adds support for more countries and sees worldwide adoption then this part of TKN’s tokenomics could be very rewarding. ## Summary: Best Crypto Debit Card? Monolith Card is a unique product that we definitely recommend if you’re invested in the Ethereum DeFi ecosystem. It’s especially useful if you receive income in cryptocurrency or are happy to only purchase DAI as your fiat-crypto onramp. The peace of mind that Monolith cannot confiscate or freeze your cryptocurrency is also very appealing. Additionally, if you’re a big [yield farmer](https://dexplain.com/tag/yield-farming) then it can make spending your [liquidity mining](https://dexplain.com/uniswap-launches-uni-token-and-liquidity-mining/) rewards so much easier. **But it is very difficult to overlook the higher card fees found on Monolith**. It means you will pay up to 2% in fees whenever you load up your card **plus** blockchain transaction fees also. Sure the [high Ethereum network fees](https://dexplain.com/loopring-the-solution-to-high-ethereum-gas-fees/) we currently face are not Monolith’s fault, but it doesn’t make adoption for their DeFi visa card any easier. To give you some perspective, [Swipe doesn’t charge you any additional fees](https://dexplain.com/swipe-crypto-debit-card-review/) to top-up your card, and it’s automatic. Furthermore, there is a cashback reward every time you spend with your card. ![](https://dexplain.com/content/images/2021/12/monolith-artwork-2-1.webp) That being said, there is a lot to love with Monolith – especially the artwork and if you’re already a heavy Ethereum ecosystem user. Furthermore, future upgrades will provide you with full banking details to immediately convert your regular salary into a [stablecoin](https://dexplain.com/tag/stablecoin). ## How to sign up? Believe the Monolith Card is the right option for you? [Download the iOS or Android app to sign up today](https://monolith.xyz/?ref=dexplain.com). If not? Check out our other [crypto card](https://dexplain.com/best-crypto-cards/) reviews. ### Halloween Special URL: https://dexplain.com/halloween-special/ Last updated: 2022-11-14T22:02:10.000Z Boo! Will you be going trick or treating today? Not to worry if you’re stuck inside because of the global pandemic, there are lots of fun Halloween themed news to explore in the crypto world. Plus so many digital artists are dropping limited [crypto collectibles](https://dexplain.com/tag/collectibles) that might come back to haunt you. Park your broom and sit for a spell. Here is a collection of updates and [NFTs](https://dexplain.com/tag/non-fungible-tokens) that caught our eye. Enjoy reading, drink your potions, and Happy Halloween! ## Things To Explore - **RottenSwap**: Announced [a virtual video costume party](https://twitter.com/RottenSwap/status/1322185364765900801?ref=dexplain.com) to go live at 5AM UTC. The link will be shared via their telegram group. Promises an exclusive interview with the dev team! - **Dracula Protocol**: If you used [the farming platform](https://dexplain.com/what-is-dracula-protocol-one-tool-to-farm-everything/) or ever traded on Uniswap, [th](https://medium.com/@DraculaProtocol/dracula-protocol-halloween-airdrop-explained-39f6cff61495?ref=dexplain.com)[e](https://medium.com/@DraculaProtocol/dracula-protocol-halloween-airdrop-explained-39f6cff61495?ref=dexplain.com)[n](https://medium.com/@DraculaProtocol/dracula-protocol-halloween-airdrop-explained-39f6cff61495?ref=dexplain.com)[ your wallet address](https://medium.com/@DraculaProtocol/dracula-protocol-halloween-airdrop-explained-39f6cff61495?ref=dexplain.com) might be included in their Halloween DRC token airdrop! - **Vampire Protocol**: Werewolves are live! The [WOLF token launched](https://twitter.com/ethtari/status/1322261222742437889?ref=dexplain.com) with some very attractive APY for DeFi farmers in the Wolfpool. - **Decentraland**: Can’t get outside for trick or treating? No problem you can join MANA’s [virtual reality Halloween Hunt](https://twitter.com/decentraland/status/1318293137798955010?ref=dexplain.com). - **Binance NFT drop**: If you’re using any DeFi apps on Binance Smart Chain, then be sure to try your luck and win [a limited edition Halloween NFT](https://twitter.com/binance/status/1322182164553691137?ref=dexplain.com). - **Narwhalswap**: Anyone who started [staking NAR tokens after our review](https://dexplain.com/what-is-narwhalswap-automated-market-maker-on-bsc/), is in for a special treat: [GOLD airdrop](https://twitter.com/narwhalswap/status/1322501825392619521?ref=dexplain.com). - **BLOODY**: The tokens are bloody! A new [deflationary elastic experiment](https://bloodyfi.org/?ref=dexplain.com#/) by the creator of [RottenSwap](https://dexplain.com/rottenswap-meet-deflationary-defi-farming/). It resembles BASED’s tokenomics but tokens are also burnt on transfer. - **Testamex**: Launched [a spooky themed trading competition](https://twitter.com/Testamex%5F/status/1322327429780680704?ref=dexplain.com) for trading TESTA tokens. - **Coinbase**: Cryptocurrency[ visa debit cards are now available in the US](https://www.theverge.com/2020/10/28/21538278/coinbase-card-visa-debit-cryptocurrency-bitcoin-stellar-lumen-spending-money?ref=dexplain.com) for Coinbase users. The card will spend funds directly from your Coinbase account. --- ## Where to trade? Here are my favourite crypto exchanges, use the referral link for atleast a 10% discount on your trading fees. - [Bybit](https://www.bybit.com/en-US/invite?ref=M2YNXG) \- Currently, this is my favourite platform! Great liquidity and bonuses for deposits. - [Delta Exchange](https://www.delta.exchange/app/signup/?code=VVRPEI&ref=dexplain.com) \- Good for a degen account, no KYC required but low liquidity. - [Binance](https://accounts.binance.com/en/register?ref=X8XUVA60) \- Lots and lots of spot altcoin pairs, especially BTC pairs. - [KuCoin](https://www.kucoin.com/ucenter/signup?rcode=r3D6E6L&ref=dexplain.com) \- Great for longer small cap holds. --- ## Halloween NFT Spotlight *Note that most of these are animated, so do open them up on OpenSea to take a full look!* ![](https://dexplain.com/content/images/2021/12/Bad-Clown.webp) - Name: **Bad Clown** - Where to buy? [OpenSea](https://opensea.io/assets/0xf095c2e133c15c69f147e6f9688465b27ca3063d/1602?ref=0x5cE9f7032953d8E3f3D98f508C1b9B489Ee621Db) - Artist: [Terra Virtua](https://twitter.com/terra%5Fvirtua?ref=dexplain.com) ![](https://dexplain.com/content/images/2021/12/Cyber-Skull.webp) - Name: **Cyber Skull (DOTD)** - Where to buy? [OpenSea](https://opensea.io/assets/0xd07dc4262bcdbf85190c01c996b4c06a461d2430/47937?ref=0x5cE9f7032953d8E3f3D98f508C1b9B489Ee621Db) - Artist: [Slyw](https://twitter.com/SlywestYo/status/1322500080465829888?ref=dexplain.com)[e](https://twitter.com/SlywestYo/status/1322500080465829888?ref=dexplain.com)[st](https://twitter.com/SlywestYo/status/1322500080465829888?ref=dexplain.com) ![](https://dexplain.com/content/images/2021/12/Fred-Vampire.webp) - Name: **Fred** **(Vampire)** - Where to buy? [OpenSe](https://opensea.io/assets/0xd07dc4262bcdbf85190c01c996b4c06a461d2430/66973?ref=0x5cE9f7032953d8E3f3D98f508C1b9B489Ee621Db)[a](https://opensea.io/assets/0xd07dc4262bcdbf85190c01c996b4c06a461d2430/66973?ref=0x5cE9f7032953d8E3f3D98f508C1b9B489Ee621Db) - Artist: [Sweetelyseuk](https://twitter.com/sweetelyseuk/status/1322483534079102976?ref=dexplain.com) ![](https://dexplain.com/content/images/2021/12/Natural-Mortality.webp) - Name: **Natural Mortality** - Where to buy? [OpenSea](https://opensea.io/assets/0xd07dc4262bcdbf85190c01c996b4c06a461d2430/67267?ref=0x5cE9f7032953d8E3f3D98f508C1b9B489Ee621Db) - Artist: [Kristy Glas](https://twitter.com/KristyGlas/status/1322501686502580227?ref=dexplain.com) ![](https://dexplain.com/content/images/2021/12/Zombie-Satoshi.webp) - Name: **Zombie Satoshi** - Where to buy? [OpenSea](https://opensea.io/assets/0x60f80121c31a0d46b5279700f9df786054aa5ee5/55863?ref=0x5cE9f7032953d8E3f3D98f508C1b9B489Ee621Db) - Artist: [DKleine](https://twitter.com/%5FDKleine/status/1322343852942876672?ref=dexplain.com) ![](https://dexplain.com/content/images/2021/12/Halloween-Kirby.webp) - Name: **Halloween Kirby** - Where to buy? [OpenSea](https://opensea.io/assets/0xd07dc4262bcdbf85190c01c996b4c06a461d2430/66912?ref=0x5cE9f7032953d8E3f3D98f508C1b9B489Ee621Db) - Artist: [DigiArty](https://twitter.com/ytrAigiD/status/1322319830532431872?ref=dexplain.com) ![](https://dexplain.com/content/images/2021/12/crypto-zombie.webp) - Name: **The Crypto Zombie** - Where to buy? [OpenSea](https://opensea.io/assets/0xd07dc4262bcdbf85190c01c996b4c06a461d2430/59692?ref=0x5cE9f7032953d8E3f3D98f508C1b9B489Ee621Db) - Artist: [MFGraffitiArt](https://twitter.com/MFGraffitiArt/status/1322253381545693184?ref=dexplain.com) ![](https://dexplain.com/content/images/2021/12/Monsters-PumpKing.webp) - Name: **Monsters in My Wallet series** - Where to buy? [OpenSea](https://opensea.io/assets/0xd07dc4262bcdbf85190c01c996b4c06a461d2430/61170?ref=0x5cE9f7032953d8E3f3D98f508C1b9B489Ee621Db) - Artist: [Sinchen](https://twitter.com/Jan71592075/status/1322208694071943168?ref=dexplain.com) ![](https://dexplain.com/content/images/2021/12/glitch-in-the-matrix.webp) - Name: **Glitch in the Matrix** - Where to buy? [OpenSea](https://opensea.io/assets/0xd07dc4262bcdbf85190c01c996b4c06a461d2430/65958?ref=0x5cE9f7032953d8E3f3D98f508C1b9B489Ee621Db) - Artist: [HamBerger](https://opensea.io/accounts/HamBerger?ref=0x5cE9f7032953d8E3f3D98f508C1b9B489Ee621Db) ![](https://dexplain.com/content/images/2021/12/Mrrr-Venom.webp) - Name: **Mrr Venom** - Where to buy: [OpenSea](https://opensea.io/assets/0xd07dc4262bcdbf85190c01c996b4c06a461d2430/61001/?ref=0x5cE9f7032953d8E3f3D98f508C1b9B489Ee621Db) - Artist: [AtlasDev](https://opensea.io/accounts/AtlasDev?ref=0x5cE9f7032953d8E3f3D98f508C1b9B489Ee621Db) ### Doki Doki Finance and DOKI token Review URL: https://dexplain.com/doki-doki-finance-and-doki-token-review/ Last updated: 2021-12-02T17:00:12.000Z [Doki Doki Finance](https://dokidoki.finance/?ref=dexplain.com) is a DeFi protocol focusing on building a full suite of products that capture sustainable and long term value for its users. DOKI tokens reward participants of the ecosystem through staking, along with providing token holders [governance](https://dexplain.com/uniswap-launches-uni-token-and-liquidity-mining/) rights. ## What is Doki Doki Finance? Doki Doki in Japanese refers to the sound of a heart beating quickly, usually for the excitement of what’s to come. Which is why you find a unique retro-Japan inspired interface on their website. The team aims to develop products presented in a stylish way that will provide a *Doki Doki* feeling for users! ![](https://dexplain.com/content/images/2021/12/doki-doki-theme.webp) Currently, the main product is **DStake** which distributes DOKI tokens via 4 different pools. The bulk of the rewards go out to the two DOKI staking pools which the protocol considers higher risk. ![](https://dexplain.com/content/images/2021/12/doki-pools.webp) This design choice intends to avoid a market collapse via unsustainable APYs that [attract whale farmers into early dumping](https://dexplain.com/top-defi-tokens-dump-50-in-a-week/). Many DeFi platforms offer high APYs for very low-risk pairs such as $ETH/$USDC or $WBTC/DAI. However, Doki Doki aims to create a loyal community of DOKI holders and liquidity providers. ## DOKI Tokenomics There is a fixed total supply of 50,000 and most of the tokens will be distributed by the staking pools. As a result, there should not be any concerns about over emission or infinite inflation using this platform. Additionally, the protocol halves the daily rewards emission every two weeks. Meaning 99% of DOKI’s supply will distribute within the next 5 months. ![](https://dexplain.com/content/images/2021/12/doki-distributuion-over-time.webp) The important part to understand about the DOKI tokenomics is the TAX feature present in the token’s smart contract. This resembles a burn feature upon selling, but the tokens go into the treasury. Currently, this is set to zero, however, once the decentralized treasury is live token holders could vote to set a tax. Essentially, the idea is to use the TAX feature to collect development funds and remain sustainable long term. ## Looking to the future Note that the project is only in Phase 1 of its development, so there are a lot of future upgrades to look forward to. Let’s take a quick look at what’s to come in Doki Doki Finance. - **DTreasury**: this will be a decentralized development fund for ecosystem grants, governed by token holders. The interesting part is the treasury acquires funding by taxing any DOKI sells. - **NFTs**: given the unique theme, [non-fungible tokens](https://dexplain.com/tag/non-fungible-tokens) in the form of retro collectibles should prove very popular. The team states this will follow an NFT mining model inspired by [Don’t Buy Meme](https://dexplain.com/what-is-meme-token-nfts-farming-guide/). - **DSwap**: no DeFi suite would be complete without its own automated market maker. Excitingly, the team mentions new hidden features that will set them apart from [SushiSwap](https://dexplain.com/tag/sushiswap) or [Uniswap](https://dexplain.com/tag/uniswap). - **Second Token**: Users can also look forward to farming a second token by staking DOKI, which will have an elastic supply much like [BASED](https://dexplain.com/what-is-based-money-the-defi-game-of-chicken/) or [VAMP](https://dexplain.com/what-is-vampire-protocol-gamification-of-a-stablecoin/). - **DBank**: this product will resemble vaults enabling users to earn yield from depositing stablecoins. It will also include a decentralized insurance system. Once the full suite of DeFi products is up and running, there should be a massive amount of value flowing into the Doki Doki ecosystem. All coming back to DOKI holders! ### Swipe Crypto Debit Card Review URL: https://dexplain.com/swipe-crypto-debit-card-review/ Last updated: 2021-12-02T17:25:30.000Z [Swipe](https://dexplain.com/tag/swipe-wallet) offers a wide range of cryptocurrency services with its multi-currency wallet, in-built instant exchange, fiat on-ramp for buying & selling crypto, and a [crypto debit card](https://dexplain.com/best-crypto-cards/). The Swipe Visa Card is particularly interesting as it enables users to spend cryptocurrencies directly with no manual conversion required. Here we will review the Swipe Card offering to see if it is the right [Bitcoin](https://dexplain.com/tag/bitcoin) debit card for you. **Note that during April-May 2021, Swipe decided to end its own offering for Swipe Card and migrate all its users to Binance Card (which it also powers). Both products are nearly identical, so we’ve kept this review up, but recommend you read [our article about Binance Card](https://dexplain.com/binance-visa-card-review-high-cashback-btc-debit-card/).** ## What is Swipe Card? Swipe and spend crypto! The idea is to provide the easiest way to start spending your [cryptocurrency](https://dexplain.com/tag/cryptocurrency) assets. As a result, Swipe is a custodial wallet where you do not control your private keys. This could be a turn off for certain experienced users who want to remain in control. However, for onboarding your family members and friends into crypto this could be the perfect wallet. Because the app works much like any modern-day banking app: sign up, set your password, and pass KYC verification. Meaning if you forget your password, your funds are not lost and you can reset your account. ![](https://dexplain.com/content/images/2021/12/swipe-cards-image.webp) There are four different tiers of crypto debit cards to choose from, all offering you different levels of rewards and perks. Here is how a Swipe Steel Card looks. ![](https://dexplain.com/content/images/2021/12/Swipe-card-steel-1.webp) All of the card tiers offer **you instant cashback in crypto**, starting at 1% and going up to 8%. To access the higher rewards with one of the cards, the more SXP tokens you have to stake and lock up for at least six months. A great thing to know is that you also receive the cashback % when withdrawing cash via ATM, it’s not just online purchases. ## Swipe Card Review ### **Advantages** - Strong choice for heavy Binance traders (no withdraw fees to Swipe Wallet). - Visa cards are supported pretty much worldwide. - 4 different cards with a tier-based benefit model. - Spend crypto automatically, with no manual top-ups. - Up to 8% cashback in crypto. - No foreign transactions for certain tiers. - Rewards and benefits programs. - Google Pay, Apple Pay, and Samsung Pay - Available in the EU, UK, and USA. - No monthly fees, sign up fees, or purchase fees! - Exchange is commission free! ### **Disadvantages** - Have to lockup SXP tokens to access the best rewards and cashback. - Foreign transaction fees are only free for Steel and Slate users. - A custodial wallet means you *could* lose access to your funds. - Project is still relatively new and changes things around A LOT (and vaguely!). - Hard to export history/usage for tax reporting purposes. - Mobile app is clunky. - Customer service agents seem to be outsourced so rarely know the answer to technical questions. ## Funding Sources The best thing about Swipe Wallet’s Visa card integration is that you can truly call it a Bitcoin debit card. Or a crypto debit card! Meaning there is no manual conversion required beforehand to top up your card with fiat currency. All you have to do is specify which cryptocurrency you wish to use as the funding source, the rest is automatic. ![](https://dexplain.com/content/images/2021/12/swipe-funding-sources-1.webp) Currently, you find the many popular cryptocurrencies and [stablecoins](https://dexplain.com/tag/stablecoin) available as [a funding source](https://swipe.zendesk.com/hc/en-us/articles/360007761358-Which-cryptocurrencies-do-you-support-?ref=dexplain.com) such as BTC, ETH, BNB, BCH, LTC, USDT, and BUSD. Additionally, you can also use your fiat balance (EUR, GBP, or USD) to fund your card. ## Swipe Benefit Programs The benefits you can receive from Swipe Visa Card depend on which cryptocurrency debit card tier you choose on signing up. There are four different cards available: Saffron, Sky, Steel, and Slate. ![](https://dexplain.com/content/images/2021/12/SXP-SXP.webp) For Saffron users, there is no requirement to stake any SXP tokens. Of course, the rewards for the entry-level card are not as great with only a 1% cashback. You do also receive a rebate for Spotify up to $12.99 which means you can get Spotify Premium for *free*. For Sky users, you need to stake 300 SXP and the cashback reward will jump up to 2%. Additionally, you will receive rebates for Spotify, Netflix, and Amazon Prime. For Steel users, which requires a 3,000 SXP stake, you can earn a 4% cashback along with more rebates for popular apps such as Uber or Apple Music. The highest Slate tier requires a 30,000 SXP lock up, at the time of writing that is roughly USD 28,000\. It will earn you the highest 8% cashback level, access to more rebates, and the locked up SXP will earn on-chain staking rewards. ## Swipe Card Fees Right now there are no commission related fees added when using Swipe Wallet or its bitcoin debit card. It looks like a lot of fees have been waived as they’re trying to aggressively expand their user base. **Current Fee Structure:** | Fee Type | Fee Amount | | -------------------------------- | --------------- | | Deposits | Free | | Withdrawals | Free | | Credit Card Purchases | 3.5% Fee Waived | | Buying, Selling, Spending Crypto | Free | As a result, you should keep checking their website for [updates on card-related fees](https://swipe.zendesk.com/hc/en-us/articles/360002643178-What-are-the-fees-limits-associated-with-the-Swipe-Card-in-the-EU-and-UK-?ref=dexplain.com). Because fees can also change per the region you reside in. One thing to remember is that only Swipe Slate & Steel Cardholders pay no foreign exchange transaction fees. If you’re planning to get the Saffron or Sky Card then foreign transaction fees can be up to 2%. Spending limits can also vary greatly between the different crypto debit card types. For example, a Saffron Card is limited to a daily ATM withdrawal of only €100\. Even the higher Slate tier is limited for cash withdrawals to €290 daily. So this may not be the greatest Bitcoin debit card for users who prefer spending in cash. However, the daily purchase limits are much higher. ## Summary: Highest Cashback BTC Debit Card? If you want to be able to spend your cryptocurrency assets instantly and freely for everyday expenses, then this is a perfect crypto debit card for you. No need to remember to top up the card before going out is a huge plus. Additionally, if you’re happy to take exposure to the SXP token then **you can receive the highest cashback in the industry**. Another positive is that Swipe is owned by [Binance](https://dexplain.com/tag/binance-exchange), and involved with the development of [Venus Protocol](https://dexplain.com/what-is-venus-xvs-defi-platform-on-binance-smart-chain/) on [Binance Smart Chain](https://dexplain.com/tag/binance-chain). What this means is that Swipe Wallet users may soon have in-built access to DeFi products such as earning interest on their stablecoins. That being said, Swipe’s announcements seem to quickly change with multiple backtracks already in their roadmap history. They brush this off by saying that they’re listening to community feedback, but to outsiders, it can appear they do not know what their mission plan should really be! Yes, you do have to buy and lock your SXP tokens up for the best cryptocurrency debit card cashback. Potential users should also note that SXP’s price is extremely volatile, meaning accessing the benefit programs can be riskier than the reward. However, SXP is a deflationary token by design so if the ecosystem does grow more tokens will be burnt and the price should go up. Swipe also powers the upcoming Binance Cards, which seems to [surely indicate that the SXP ecosystem will grow](https://dexplain.com/sxp-price-predictions-7-reasons-swipe-defi-plans-will-rocket/). ## How to sign up? Believe the Swipe Visa Card is the right option for your crypto debit card? Recently, Swipe decided to stop sign ups and migrate its users to Binance Card. As it powers both, the offerings are near identically so we recommend checking [out Binance Card here](https://dexplain.com/binance-visa-card-review-high-cashback-btc-debit-card/). If not? Check out our other [crypto card](https://dexplain.com/best-crypto-cards/) reviews. ### Aavegotchi’s GHST staking is live URL: https://dexplain.com/aavegotchis-ghst-staking-is-live/ Last updated: 2021-12-02T16:58:08.000Z [Aavegotchi](https://dexplain.com/tag/aavegotchi), an upcoming game on Ethereum which combines [decentralized finance (DeFi)](https://dexplain.com/tag/defi) with [non-fungible tokens (NFTs)](https://dexplain.com/tag/non-fungible-tokens), staking feature for GHST tokens is now live. Users can start staking GHST to earn FRENS points. ## What are FRENS points? The new feature is a small detour from the official roadmap. It looks like the dev team wanted to keep the community excited for [Aavegotchi coming to mainnet](https://dexplain.com/what-is-aavegotchi-where-nfts-meet-defi/). Potentially, they are worried investors may get a little anxious – time always moves differently in crypto! The new functionality follows similar NFT mining strategies we’re seeing on platforms like [Don’t Buy Meme](https://dexplain.com/what-is-meme-token-nfts-farming-guide/). ![](https://dexplain.com/content/images/2021/12/frens-raffle-tickes.webp) Users can earn FRENS points by staking their tokens or Uniswap LP tokens. These points are redeemable for tickets that have 6 different rarity levels. Also, tickets follow an [ERC1155 standard](https://dexplain.com/tag/crypto-art) meaning they can be traded as collectible via markets such as [OpenSea](https://dexplain.com/what-is-opensea-crypto-collectibles-marketplace/) or [Rarible](https://dexplain.com/what-is-rarible-solving-the-pains-of-digital-art-with-nfts/). Essentially, tickets allow holders to enter special Raffles where lucky participants will be able to win vouchers for rare **Aavegotchi Wearables**. ![](https://dexplain.com/content/images/2021/12/aavegotchi-wearables.webp) The vouchers themselves will also be ERC1155 compliant, which opens up possibilities for some exciting [collectible hunting](https://dexplain.com/tag/collectibles) before the mainnet release. ## How to stake GHST token? *Stake GHST, Make Frens!* 1. **Buy GHST tokens.** You can use the [official GHST token pool](https://aavegotchi.com/curve?ref=dexplain.com) (a Curve fork) or use the [Uniswap pool](https://info.uniswap.org/pair/0xab659dee3030602c1af8c29d146facd4aed6ec85?ref=dexplain.com). 2. **Stake your tokens.** This happens via the [new staking UI page](https://aavegotchi.com/stake-mainnet?ref=dexplain.com) on the website. Note if you are a GHST Uniswap liquidity provider, you can stake your LP tokens**.** 3. **Redeem FRENS points.** Using the [Aavegotchi shop](https://aavegotchi.com/shop?ref=dexplain.com) you can choose which Raffle tickets you would like to buy**.** Currently, a **Common** ticket requires 50 FRENS points whereas a **Godlike** ticket needs 50,000 FRENS. Remember, the only way you can earn FRENS is by staking GHST – you cannot buy the points directly. For Aavegotchi enthusiasts, it’s important to know that staking 1 GHST-ETH LP token earns 100 FRENS per day, whereas staking 1 GHST earns 1 FRENS per day. Good luck! ### Xiotri DeFi’s Unique Liquidity Mining Algorithm URL: https://dexplain.com/xiotri-defis-unique-liquidity-mining-algorithm/ Last updated: 2021-12-02T16:31:55.000Z [XIOTRI DeFi](https://xiotri.io/?ref=dexplain.com) is a fresh approach to [liquidity mining](https://dexplain.com/tag/yield-farming), one which aims to provide value for all participants in a fair approach. Currently, we find many yield farming platforms are ravaged by whale portfolios looking to dump some free DeFi rewards. ## What is XIOTRI DeFi? Xiotri DeFi’s algorithm provides disincentives for being overly greedy. Meaning the protocol works to enable more users to participate in staking while keeping the rewards balanced. This is an approach we have seen in projects such as [DEGO Finance](https://dexplain.com/what-is-dego-finance-sustainable-liquidity-mining/) where stakers are put into tiers. Essentially, the platform works to emit its reward/governance token Ri in a way that will keep the ecosystem in balance. The aim is to avoid a scenario where larger portfolios earn massive amounts of Ri. And, immediately dump them causing the [ecosystem collapse](https://dexplain.com/top-defi-tokens-dump-50-in-a-week/) and move on. ![](https://dexplain.com/content/images/2021/12/xiotri-defi-beta.webp) This is a common problem that farming operations are coming across, one that destroys trust with its users. One reason why some teams [are now locking liquidity](https://dexplain.com/what-is-core-locked-liquidity-farming/). Because, when the platform’s reward token price collapses the biggest victims are the smaller portfolio farmers. ## Four Token Ecosystem ![](https://dexplain.com/content/images/2021/12/xiotri-diagram.webp) The project has three main tokens XIOT and bXIOT, and dXIOT for staking and routing liquidity. Users can earn dXIOT by single staking XIOT, bXIOT, or RI. And, all pool pairs for [liquidity providers](https://dexplain.com/uniswap-launches-uni-token-and-liquidity-mining/) to farm RI are with the platform’s native tokens. Ri token is also stakable, as a result, the platform aims to become a giant 3 token liquidity mine. - The team is remaining tight-lipped on how exactly their sustainable [DeFi](https://dexplain.com/tag/defi) reward algorithm works. Note that the platform is still in beta, not all the functionality is live, and there have not been any audits as of yet. ![](https://dexplain.com/content/images/2021/12/RI-emission-schedule.webp) **Inflation reduces…** Ri emission follows a design that halves the rewards once per year. Currently, this is planned to happen over a period of six years. Meaning this is a farming operation users could definitely stay in long term: stake and forget! ### 4 DeFi Platforms on Tron to Explore URL: https://dexplain.com/4-defi-platforms-on-tron-to-explore/ Last updated: 2021-12-02T16:20:59.000Z It is quite easy to believe [decentralized finance (DeFi)](https://dexplain.com/tag/defi) apps are only building on Ethereum. Given that it has the most users, it is where we find the platforms with the most traction. However, with gas fees continuing to rise and [ETH 2.0](https://dexplain.com/lido-plans-to-make-staked-eth-2-0-liquid/) still far off on the horizon – we are finding other networks making a big push. [Tron](https://dexplain.com/tag/tron) and dApps may mean gambling to many of you, however, there are several growing platforms solely focusing on building DeFi products. Here we will take a look at **4 DeFi platforms built on Tron** that you should take a look at. ## List of DeFi Platforms on Tron This is by no means an exhaustive list, there are many more platforms with motivated teams behind them – here are four DeFi protocols that caught our eye. Additionally, these platforms have been audited by [Slowmist](https://twitter.com/SlowMist%5FTeam?ref=dexplain.com) or [Beosin](https://twitter.com/Beosin%5Fcom?ref=dexplain.com) so we consider them safer for use. ## Just Network [Just Network](https://just.network/?ref=dexplain.com) is developing what could be called the backbone of TRON-based DeFi protocols. The JUST team is behind the [stablecoin](https://dexplain.com/tag/stablecoin) lending platform JustStable, where users can mint USDJ and earn interest. Additionally, they have built an automated market maker (AMM) for swapping any TRC20 token. ![](https://dexplain.com/content/images/2021/12/just-swap.webp) JustSwap resembles Uniswap, allows liquidity providers to deposit funds in pools to earn a percentage of the swap fees. Furthermore, the platform has its governance token JST which is earned through liquidity mining. ### **Sun** [S](http://sun.io/?ref=dexplain.com)[un](http://sun.io/?ref=dexplain.com) token refers to itself as a social experiment that aims to further the development of Tron’s DeFi ecosystem. Essentially, the farming platform offers users rewards in SUN tokens for using different decentralized finance products on Tron. ![](https://dexplain.com/content/images/2021/12/Sun-staking-pools.webp) The main aim of the platform is to help create deeper liquidity for key token pairs. Such as the USDT/TRX pool on JustSwap. SUN is the platform’s governance token which holders use to vote on proposals, such as creating new farm pools. Currently, most pools provide over 30% APY, and users also have the option to stake TRX or SUN tokens individually. This is a great way to enter DeFi on Tron without taking too much exposure. ### **Pearl Finance** [Pearl Finance](http://pearl.finance/?ref=dexplain.com) is a project built by TronFi, a team behind several DeFi platforms on Tron. For example, they have also launched their own decentralized exchange SalmonSwap. And are working on a cross-chain bridge to link Ethereum, Polkadot, and Bitcoin with Tron. ![](https://dexplain.com/content/images/2021/12/pearl-finance.webp) Pearl Finance is a farming protocol that rewards its users with an elastic supply token PEARL. Currently, the PEARL token is fully distributed meaning farming has ended. The team is building a second stage which will feature a deflationary farming token PEV for rewards along with liquidity locking. Unfortunately, the initial launch fell victim to frontrunning, so watch closely for their next updates. ### **MoonRabbit** It’s a little hard to follow developments of the [MoonRabbit](http://moonrabbit.finance/?ref=dexplain.com) platform, as they’re lacking documentation in English. However, we found this farming platform to be interesting as its governance token MKR has a fixed total supply of 12,000\. Meaning there will not be any problems with over-emission or inflation, MKR’s price should be driven up by its scarcity. ![](https://dexplain.com/content/images/2021/12/moonrabbit.webp) As it stands, MoonRabbit is focussing on launching additional farming opportunities for its users via an Ecosystem Grants Program. These are other platforms that reward users for staking JustSwap LP tokens, however, rewards are paid in CEB or KUT tokens. ## Final thoughts: DeFi on Tron As we can see for those of you that are happy to walk off the traveled path, there are familiar [DeFi products on Tron](https://dexplain.com/tron-defi-about-to-explode/) that may work out more profitable for you. Especially if you are finding the transaction fees on [Ethereum eat up your farming profits](https://dexplain.com/loopring-the-solution-to-high-ethereum-gas-fees/). Users with smaller portfolios may find it easier to scale their DeFi strategies on Tron compared to Ethereum. Additionally, with tokenized Bitcoin implementations such as [Bitgo’s WBTC deploying onto Tron](https://dexplain.com/bitgo-will-bring-wrapped-btc-and-eth-to-tron-defi/) – it looks like DeFi on Tron is only going to get bigger. ### What is Based Money? The DeFi Game of Chicken URL: https://dexplain.com/what-is-based-money-the-defi-game-of-chicken/ Last updated: 2021-12-02T16:18:24.000Z [Based Money](https://based.money/?ref=dexplain.com) is an experimental [decentralized finance (DeFI)](https://dexplain.com/tag/defi) project *built by Ghouls*, which aims to gamify a [stablecoin](https://dexplain.com/tag/stablecoin) asset. The anonymous team’s mission is to provide an economic game that will always have a balanced and fair entry for all participants. ## What is Based Money? BASED is [an elastic supply token](https://dexplain.com/what-is-seal-finance-defi-farming-with-elastic-supply/) which can rebase every 24 hours. The Based Protocol will adjust the supply of tokens to target the value of 1 BASED to 1 sUSD. This means that BASED should be loosely pegged to $1 U.S. Dollar. The [rebasing mechanism](https://dexplain.com/what-is-vampire-protocol-gamification-of-a-stablecoin/) applies to all token holders, meaning if you have 100 BASED tokens in your wallet which are worth $150 sUSD. ![](https://dexplain.com/content/images/2021/12/based-money.webp) Then at the end of a rebase event your wallet balance will be 150 BASED. The idea is for users to take advantage of the rebasing mechanism when trading. Winning the game in this sense would be the ability to continuously build up your stack. **Number goes up…** to successfully play the game, you have to understand the rules. The protocol will query a Uniswap oracle to compare the price of BASED and sUSD. A function that can only be called every 24 hours. If the price difference is more than 5% in either direction, then a rebase event will trigger. - Rebasing is not instantaneous, BASED supply for all holders adjust smoothly over a ten-day period. Meaning you can **take advantage of future price movements**. **Not correlated to Bitcoin…** most [altcoins](https://dexplain.com/tag/altcoins) find themselves attached to the market movements of major cryptocurrencies such as [BTC](https://dexplain.com/tag/bitcoin) or [ETH](https://dexplain.com/tag/ethereum). Based Protocol offers a digital asset whose price movements are not coupled to anything other than its own set of rules. As a result, you have a DeFi product that truly has its own unique value. ### Bancor V2.1 Eliminates Impermanent Loss URL: https://dexplain.com/bancor-v2-1-eliminates-impermanent-loss/ Last updated: 2021-12-02T16:12:10.000Z [Bancor](https://dexplain.com/tag/bancor), a DeFi powered Automated Market Maker (AMM), announced [impermanent loss](https://dexplain.com/bancor-v2-launches-with-new-dynamic-liquidity-pools/) will be eliminated with its v2.1 upgrade. Along with providing single-sided exposure via an elastic BNT supply. Additionally, the upgrade will launch Bancor’s new governance token: vBNT. ## Bancor is eliminating Impermanent Loss In the new model, liquidity providers earn liquidity protection over time along with trading fees from the token swaps. The idea is to make being a long term liquidity provider on Bancor more attractive. Currently, [decentralized liquidity protocols](https://dexplain.com/tag/decentralized-exchange) are facing an ever-growing amount of vampire attacks from new innovative platforms or even just exact clones. Bancor’s new approach aims to provide [a sustainable protocol](https://dexplain.com/what-is-dodo-meet-the-proactive-market-maker/) that remains profitable long term. Meaning that users can finally feel the DeFi promise of **passive market making rewards**. ![](https://dexplain.com/content/images/2021/12/BNT-diagram.webp) Bancor is changing its tokenomics with the v2.1 upgrade to introduce [an elastic supply](https://dexplain.com/what-is-vampire-protocol-gamification-of-a-stablecoin/) for BNT. It works by minting BNT tokens when a user deposits assets into a protected pool. Essentially, the counterpart asset in every pool in BNT. To summarize, the protocol is co-investing in the pool with the liquidity provider which it uses to cover the cost of impairment loss. ## Bancor governance token is live Users will also be able to earn rewards in the form of vBNT, by staking in a protected pool. Currently, there are **over 60 ERC20 tokens in the protocol’s whitelist**. As it stands, given the big change in tokenomics the upgrade to v2.1 is waiting for community approval. However, given the design should increase the ROI of liquidity providers it seems certain the community will vote it through. The puzzle of solving impermanent loss for good is being tackled [by various AMM protocols](https://dexplain.com/what-is-mooniswap-the-new-automated-market-maker-by-1inch/). All with their unique approach to the problem, however, most require a user to take on exposure to additional assets. Because you nearly always need to deposit two assets into the pool. With Bancor’s fresh design enabling single-sided exposure along with impermanent loss protection, **it will make them stand out from the crowd**. Expect growth! ### Lido plans to make staked ETH 2.0 liquid URL: https://dexplain.com/lido-plans-to-make-staked-eth-2-0-liquid/ Last updated: 2021-12-02T16:10:54.000Z [Lido](https://lido.fi/?ref=dexplain.com) is a staking solution for [ETH 2.0](https://dexplain.com/tag/ethereum) built to solve several transition problems. Essentially, it will bridge the gap between ETH 2.0 and ETH 1.0 – enabling users to access their staked funds and rewards ahead of time. ## What is Lido? Ethereum is finally gearing up to launch ETH 2.0, starting a transition period towards [Proof of Stake](https://ethereum.org/en/eth2/?ref=dexplain.com) (PoS). Once the migration is complete Ethereum will be the largest PoS network in [cryptocurrency](https://dexplain.com/tag/cryptocurrency) by a large margin. However, it is the transition period itself that poses several problems. - Early stakers will be agreeing to lock up their ETH until transactions are enabled on ETH 2.0, which could be years. - Stakers will not be able to move or access their staked funds at all. Resulting in staked ETH becoming illiquid and unusable by any [DeFi](https://dexplain.com/tag/defi) product. - Users can only stake in multiples of 32 ETH. These three major concerns could severely impact participation in staking on ETH 2.0 because the early adopter is taking significantly more risk. Additionally, this creates a paradox situation as without early adopters the migration to ETH 2.0 will not be successful. ## Staked funds are always illiquid Lido also raises another question: staked funds will always be illiquid and inaccessible for the DeFi ecosystem. Meaning that even when transactions are enabled on ETH 2.0 and it becomes possible to claim rewards along with unstaking. The network needs stakers to achieve consensus and stay secure, but that means a lot of capital will be locked up. Users will be faced with a dilemma: secure the network or [stake with DeFi protocols to earn yields](https://dexplain.com/tag/yield-farming)? Currently, we do not know which option will offer the best incentives. ## Lido makes staked ETH liquid Users who choose to stake through Lido will receive a corresponding token that represents their stake 1:1, called bETH. Furthermore, as your ETH generates rewards on ETH 2.0 so will your bETH balance increase. Essentially, all your funds will remain accessible and liquid. Lido also enables users to stake ETH with any amount, so there is no need to have exactly 32 ETH available. You could compare it to a form of [flexible farming](https://dexplain.com/value-liquid-will-feature-flexible-farming/) by Value DeFi. ![](https://dexplain.com/content/images/2021/12/lido-image.webp) As an ERC20 token bETH can be compatible with all the major DeFi protocols. It will be tradable on [Uniswap](https://dexplain.com/uniswap-launches-uni-token-and-liquidity-mining/), usable as collateral on [Aave](https://dexplain.com/aave-protocol-overtakes-maker-with-over-1-5-billion-locked/), or be a liquidity provider on [Balancer](https://dexplain.com/start-balancer-liquidity-mining-to-earn-bal-tokens/). And once transactions do start on ETH 2.0, holders can redeem bETH for ETH. Lido aims to mitigate the risks of being an early adopter for ETH 2.0, keeping funds liquid, while also providing yield generating opportunities for bETH. We don’t have any tech details yet for the platform, they should be released over the next few weeks. Keep watching! ### dForce’s Yield Markets Explained URL: https://dexplain.com/dforces-yield-markets-explained/ Last updated: 2021-12-02T16:06:26.000Z After dForce suffered [a notorious hack](https://decrypt.co/26033/dforce-lendfme-defi-hack-25m?ref=dexplain.com) of around $25 million, dForce went back to the drawing board. After several security audits before re-launching, dForce is starting to make a comeback into [decentralized finance (DeFi)](https://dexplain.com/tag/defi). Here we will take a look at their Yield Markets and Liquidity mining programs. ## A DeFi Aggregator with a twist [Mindao Yang](https://twitter.com/mindaoyang?ref=dexplain.com), co-founder of dForce, believes that standalone DeFi protocols such as [Aave](https://dexplain.com/tag/aave) or [Maker](https://dexplain.com/tag/maker) do not have the competitive edge. Meaning they cannot capture all the ecosystem’s rewards for their users. The future belongs to platforms providing aggregation and matrix products, that users can easily access. > USDT/DAI and increasingly USDC are aggregators of liquidity in the shadow, they are the true kings in the yield farming and aggregation exercises; Aggregation as a Service sucks as a value capture, but if it's an asset protocol, it's a super sticky supernova > > — Mindao Yang (@mindaoyang) [July 31, 2020](https://twitter.com/mindaoyang/status/1289243565264998400?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) We have all watched the summer craze of [YFI](https://dexplain.com/tag/yearn-finance) and [SUSHI](https://dexplain.com/tag/sushiswap) cause a huge demand for DeFi tokens from investors. However, the problem with being a simple DeFi aggregator is that they can be easily cloned and copied. Just take a look at [Dfi Money](https://dexplain.com/what-is-dfi-money-yfii-token-review/), [xFinance](https://dexplain.com/what-is-xfinance-a-full-stack-defi-protocol/), [Harvest Finance](https://dexplain.com/what-is-harvest-finance-defi-with-farm-tokenomics/) – the list goes on. As a result, dForce is on a different path for aggregation. Essentially, the idea is to not simply be a aggregator as a service but as an asset protocol. ## Aggregation as an asset? By becoming a decentralized finance aggregator of the aggregators liquidity providers will remain loyal to using dForce. Currently, we see many users who move on to [Curve](https://dexplain.com/what-is-curve-finance-and-crv/) as soon as the potential rewards are better. **You May Also Like:** - [Yearn Finance Vaults Explained](https://dexplain.com/yearn-finance-vaults-explained/) - [What is Shell Protocol? Flexible Liquidity Pools](https://dexplain.com/what-is-shell-protocol-flexible-liquidity-pools/) - [Farming on Binance Smart Chain with PancakeSwap](https://dexplain.com/farming-on-binance-smart-chain-with-pancakeswap/) With dForce the approach is to integrate all DeFi protocols vertically and horizontally. ![](https://dexplain.com/content/images/2021/12/dTokens-diagram.webp) Essentially, users can earn value from all of the rewards on offer around the ecosystem. We find similar innovations happening in platforms like [Value DeFi](https://dexplain.com/value-liquid-will-feature-flexible-farming/) or [Dracula Protocol](https://dexplain.com/what-is-dracula-protocol-one-tool-to-farm-everything/). ### **Key Features** - dForce offers risk-adjusted yield farming as deposits will be pooled across multiple DeFi stacks. Thus, less risk if a protocol such as Compound collapses and you only have cTokens. - All governance tokens are automatically harvested and compounded into the underlying yield. - No impermanent loss risks, as dforce’s yield markets do not feature any AMMs. - Built for maximum Gas efficiency. The protocol includes an internal buffer for users depositing and withdrawing. Therefore, it does not need to interact with the underlying protocol on each action. ![](https://dexplain.com/content/images/2021/12/dForce-yield-markets.webp) Additionally, when a user deposits funds they are given the corresponding dToken in return. All dTokens follow the ERC20 standard. As a result, they are compatible with [Balancer pools](https://dexplain.com/start-balancer-liquidity-mining-to-earn-bal-tokens/) for liquidity and support quick [stablecoin](https://dexplain.com/tag/stablecoins) swaps. ### What is DODO? Meet The Proactive Market Maker URL: https://dexplain.com/what-is-dodo-meet-the-proactive-market-maker/ Last updated: 2021-12-02T16:04:11.000Z DODOEx is a [decentralized exchange](https://dexplain.com/tag/decentralized-exchange) deployed on Ethereum. It feels much like using [Uniswap](https://dexplain.com/tag/uniswap), however, there are some notable tweaks to achieve more efficient usage of capital. Uniquely, users can provide single asset liquidity and there is [no impermanent loss](https://dexplain.com/bancor-v2-launches-with-new-dynamic-liquidity-pools/). Team DODO claims that liquidity providers can receive up to 40% APR on their deposits, and that is without factoring in any [liquidity mining rewards](https://dexplain.com/tag/yield-farming). ## What is DODO? At its core, Dodo is an on-chain liquidity provider that acts much like Uniswap, [Mooniswap](https://dexplain.com/what-is-mooniswap-the-new-automated-market-maker-by-1inch/), or [Value Liquid](https://dexplain.com/value-liquid-will-feature-flexible-farming/). The key difference is DODO uses an alternative approach to automated market making. Referred to as being a Proactive Market Maker (PMM), DodoEx uses price oracles to copy the behavior of real human traders & market makers. ![](https://dexplain.com/content/images/2021/12/dodo-diagram.webp) Essentially, the algorithm checks the prices of assets allocating funds to proactively increase liquidity near the market price. And it rapidly decreases liquidity if it gets further away from the market price. By following a proactive approach to using its liquidity, the protocol makes capital usage more efficient. As a result, you find a high level of liquidity which reacts more like a centralized exchange. The innovative pricing formula enables liquidity providers to deposit a single asset instead of both crypto assets. When a trade happens, PMM dynamically adjusts the price to attract arbitrage trading to rebalance the liquidity provider’s portfolio. This is an idea to mitigate the dreaded issue of impermanent loss that we find on many AMMs. ## How to use DODO exchange? Traders can swap between two tokens by [using the DODO Exchange](https://app.dodoex.io/?ref=dexplain.com), note you will need to be comfortable using a dApp browser such as MetaMask. One thing to know is that you can’t trade tokens against each other, all pairs are with USDC. ![](https://dexplain.com/content/images/2021/12/dodo-screenshot.webp) Currently, trading is live for many mainstream tokens such as ETH, WBTC, LEND, SNX or YFI. For liquidity providers, you can use the Pool tab to easily add or remove liquidity via the dashboard – along with claiming any DODO rewards. The DODO protocol is in a beta phase, though it has been audited by PeckShield and Trail of Bits. ### Hegic brings Liquidity Mining to DeFi Options Trading URL: https://dexplain.com/hegic-brings-liquidity-mining-to-defi-options-trading/ Last updated: 2021-12-02T16:00:22.000Z Following a security audit from Peckshield, the decentralized options platform Hegic launched its beta mainnet. Hegic v888 features the much-awaited transition to bidirectional liquidity pools for [ETH](https://dexplain.com/tag/ethereum) and [WBTC](https://dexplain.com/tag/bitcoin). As a result, the protocol’s liquidity providers and option holders will start earning rewards through the new HEGIC [liquidity mining](https://dexplain.com/tag/yield-farming) programs. ## What is Hegic? Hegic is an options trading protocol built on Ethereum. The protocol enables the creation of options with customized strike prices and expiries – entirely on-chain, permissionless, and non-custodial. Users can then buy or sell calls and put options for ETH or WBTC using Hegic. Options are seen as an integral part of traditional financial services because they allow traders to implement powerful risk management strategies. ![](https://dexplain.com/content/images/2021/12/WBTC-hegic-trading.webp) With Ethereum’s DeFi stack growing bigger every week, a true solution for creating and trading options looks like a necessity. Hegic finds competition in the form of [Yearn Finance](https://dexplain.com/tag/yearn-finance/) insurance and Opyn. **You May Also Like:** - [BitGo will bring Wrapped BTC and ETH to Tron DeFi](https://dexplain.com/bitgo-will-bring-wrapped-btc-and-eth-to-tron-defi/) - [What is Pickle Finance? Bringing Stability to DeFi](https://dexplain.com/what-is-pickle-finance-bringing-stability-to-defi/) - [A Full-Stack DeFi Protocol with Xfinance](https://dexplain.com/what-is-xfinance-a-full-stack-defi-protocol/) However, this will be the first decentralized options protocol rewarding its users which may give Hegic the edge. In total, 1,650,000 tokens have been allocated towards Hegic’s phase one of its liquidity mining program. **Popular options contracts…** The v888 launch added support [for Bitcoin through WBTC](https://dexplain.com/ren-renbridge-and-renvm-everything-you-need-to-know/). Given that Ethereum and Bitcoin are the most popular option contracts on centralized platforms such as Deribit, this is a great move by Hegic for future growth. - [Molly Wintermute](https://twitter.com/0mllwntrmt3?ref=dexplain.com), the project’s anonymous creator, has reminded everyone that the smart contracts are still in beta: use with caution! **Why v888…** A lucrative staking reward is also available for Hegic token holders with a balance of over 888,000 – roughly $70,000 at the time of writing. They can stake their holdings in lots, and lot owners will earn 1% in fees on all the options sold through the protocol. In return, these stakers are responsible for protocol governance. ### Catnip Exchange Makes Prediction Markets Usable URL: https://dexplain.com/catnip-exchange-makes-prediction-markets-usable/ Last updated: 2026-07-15T11:44:40.000Z Catnip Exchange is a simpler and lower-fee prediction market experience built on top of [Augur](https://dexplain.com/tag/augur/) and [Balancer](https://dexplain.com/tag/balancer). A project by AugurDAO, a decentralized collective that aims to progress the use of open prediction markets. As a result, Catnip’s mission is to remove the friction that makes prediction markets too complicated for users. ## High liquidity and low tx fees The team uses foundry.finance to tokenize outcome shares in Augur markets, then deposits them in [a Balancer pool](https://dexplain.com/start-balancer-liquidity-mining-to-earn-bal-tokens/). Essentially, they wrap it all up in their custom UI which enables you to place a prediction in the same fluid way of making a token swap. **The result is transaction fees that are up to 10x lower than using Augur’s native UI and \~50% lower than on Balancer’s UI**. Furthermore, there are **zero settlement fees** and half the swap fees found in competitors such as Omen or Polymarket. ![](https://dexplain.com/content/images/2021/12/catnip-exchange.webp) **Simplicity…** Catnip follows a similar UI to [Uniswap](https://dexplain.com/uniswap-launches-uni-token-and-liquidity-mining/) which is a familiar sight to any [DeFi](https://dexplain.com/tag/defi) user. It takes just two clicks to make a trade. At the moment, there is only one market, the 2020 U.S. presidential election. However, interest is growing fast with **over $300k in liquidity** in the market’s balancer pool. - Currently, if you have never used MetaMask or Ethereum, things are a bit more complicated. However, the team states they are working hard to improve it. **No Limits…** Much like using any Augur market, there are no limits to how much you can trade on Catnip. Centralized prediction markets such as PredictIt will limit you to 850 USD per outcome. Furthermore, trading via Catnip Exchange is non-custodial along with decentralized market resolution via Augur. Decentralized betting just got accessible and interesting! ### Curve Finance reveals Layer 2 solution with zkSync URL: https://dexplain.com/curve-finance-reveals-layer-2-solution-with-zksync/ Last updated: 2021-12-02T15:39:10.000Z In big news for the whole [DeFi](https://dexplain.com/tag/defi) community, [Curve](https://dexplain.com/tag/curve-finance) and Matter Labs announced a path for scaling [Ethereum](https://dexplain.com/tag/ethereum) in a secure and decentralized way. A zkSync L2 smart contract capable testnet with a Curve stablecoin pool already running on it. ## What is a ZK rollup? As Ethereum fills with more users and dapps, gas prices and transaction times are going up beyond levels of being sustainable. Scalability is in high demand, [rollups are seen as the answer](https://dexplain.com/loopring-the-solution-to-high-ethereum-gas-fees/). A sentiment that was recently confirmed by Vitalik Buterin [as the only choice for scaling](https://www.trustnodes.com/2020/10/05/ethereum-rollups-are-the-only-choice-for-scalability-says-vitalik-buterin?ref=dexplain.com) on Ethereum. Notably, because a ZK rollup keeps intact all of Eth’s security and decentralization. ZK rollups (ZKR) even with a single validator are considered extremely secure, because they rely on pure maths. There is no activity with an economic incentive to keep funds safe. Essentially, funds going through a ZKR are just as secure as on the underlying L1\. For Curve, [a protocol that moves millions](https://dexplain.com/what-is-curve-finance-and-crv/), this is especially important. Furthermore, ZK rollups confirm quickly meaning it is a viable solution for token swaps – Loopring for example supports 7000 trades per Ethereum block. The main issue with zkSync is that until recently it was extremely difficult to support any type of smart contract in a ZK rollup. It was seen more as a solution for making a one payment transaction. ## Smart contracts in a ZK rollup? As we know innovation moves fast in DeFi, and with users starting to migrate to alternative chains such as [Tron](https://dexplain.com/tron-defi-about-to-explode/) or [Binance Smart Chain](https://dexplain.com/farming-on-binance-smart-chain-with-pancakeswap/) to avoid high gas fees for their farming strategies. It looks like Curve wants things to move even faster, and avoid losing users. [Matter Labs](https://medium.com/matter-labs?ref=dexplain.com) is making this possible through their SNARK-friendly Zinc VM. > Thanks to [@the\_matter\_labs](https://twitter.com/the%5Fmatter%5Flabs?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com), we've got a Curve pool working on zkSync L2 testnet! > > Live demo: [https://t.co/iC9yqNx6HH](https://t.co/iC9yqNx6HH?ref=dexplain.com) > Source code: [https://t.co/KaxMd3ErWT](https://t.co/KaxMd3ErWT?ref=dexplain.com) > > More about the pool, zkSync and the furure of Ethereum:[https://t.co/etI2Vknbjj](https://t.co/etI2Vknbjj?ref=dexplain.com) > > — Curve Finance (@CurveFinance) [October 9, 2020](https://twitter.com/CurveFinance/status/1314606227180212226?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) Developers can write their smart contracts in the Zinc programming language to use the L2 solution from day one. Furthermore, Zinc follows a simple Rust syntax which means that any Solidity or Vyper developer can learn the language in a couple of days. In fact, any smart contract written in Vyper can be ported over to Zinc almost line per line. Importantly, all smart contracts on a zkSync L2 network can call each other in the same way as on mainnet. Meaning users will be able to expect the same composability that is powering the [stacking of DeFi farming strategies ](https://dexplain.com/furucombo-lets-you-save-gas-for-your-defi-strategies/)– without all the high gas costs! ### Dharma Adds Uniswap Limit Order Feature URL: https://dexplain.com/dharma-adds-uniswap-limit-order-feature/ Last updated: 2021-12-01T16:20:43.000Z Dharma wallet continues to make onboarding for [decentralized finance (DeFi)](https://dexplain.com/tag/defi) easy by adding a trustless limit order feature. Known [as the portal to DeFi](https://www.dharma.io/?ref=dexplain.com), the mobile smart contract wallet already enables users to earn interest on Ethereum [stablecoins](https://dexplain.com/tag/stablecoins) just by holding them. In July, Dharma users could start trading any ERC-20 token for another when [Uniswap](https://dexplain.com/tag/uniswap) was integrated. As a result, the team has gone one step further and added a limit order feature. ## Sleep Easy with Dharma Limit Orders Dharma’s Limit orders feature supports any pair on Uniswap, which means you have access to over 4 million pairs. > 1/ 🤖🔄 Limit Orders are Live in Dharma 🔄🤖 > > \- Free order creation and cancelation ✅ > \- Support for any ERC20<>ERC20 pair in [@UniswapProtocol](https://twitter.com/UniswapProtocol?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) ✅ > \- No more waking up at 4am to check token prices ✅ [pic.twitter.com/Ie1oAnrKg2](https://t.co/Ie1oAnrKg2?ref=dexplain.com) > > — Dharma (@Dharma\_HQ) [October 6, 2020](https://twitter.com/Dharma%5FHQ/status/1313495726706565123?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) To put this in perspective, [Binance](https://dexplain.com/tag/binance-exchange) has roughly 1000 pairs and Coinbase Pro around 100 pairs. Limit orders allow you to set the price at which you want to execute a price in advance. **You May Also Like:** - [Furucombo let’s you save gas for your DeFi strategies](https://dexplain.com/furucombo-lets-you-save-gas-for-your-defi-strategies/) - [What is Xfinance? A Full-Stack DeFi Protocol](https://dexplain.com/what-is-xfinance-a-full-stack-defi-protocol/) - [What is Lition? GDPR Compliant Sidechains](https://dexplain.com/what-is-lition-gdpr-compliant-sidechains/) For example, buy 5 ETH at a price of 350 USDC per ETH. Essentially, the feature allows you to have more control, to set it and forget it. This means you don’t have to wake up every hour of the night to check Uniswap prices. **Zero gas fees…** Dharma smart wallet already features zero gas fees when trading on Uniswap. Yep, that’s right you could save yourself all those [hefty transaction fees](https://dexplain.com/loopring-the-solution-to-high-ethereum-gas-fees/) due to gas by using Dharma. - Creating or canceling limit orders are also free. Which means you’re only paying if a trade is executed. **Looking to the future…** Decentralized limit orders for automated market makerhave always been a little tricky though they do exist on Kyber Network and Pine Finance. The true gem would be a decentralized [stop loss feature](https://dexplain.com/what-is-a-stop-limit-order/), it will be interesting to see if Dharma will try to crack this one! ### What is Shell Protocol? Flexible Liquidity Pools URL: https://dexplain.com/what-is-shell-protocol-flexible-liquidity-pools/ Last updated: 2021-12-01T16:18:36.000Z Shell Protocol is a new [automated market maker (AMM)](https://dexplain.com/tag/decentralized-exchange), which currently features an innovative flexible type of [stablecoin](https://dexplain.com/tag/stablecoin) liquidity pool. The protocol takes advantage of the best features found in other DeFi protocols such as Curve, Balancer, mStable, and Mooniswap. However, in the future, the platform plans to support BTC and ETH pools, along with a liquidity mining program to [farm its governance token](https://dexplain.com/farming-on-binance-smart-chain-with-pancakeswap/) SHELL. Here we will take a look at what is Shell Protocol and its upcoming SHELL token. ![](https://dexplain.com/content/images/2021/12/shell-protocol.webp) ## Is Shell Protocol another DeFi clone? I can see what you’re thinking: another [DEX/Uniswap/Curve/DeFi clone](https://dexplain.com/tag/defi) looking to take advantage of the market’s fascination with [farming tokens](https://dexplain.com/tag/yield-farming)! Well, fear not, Shell Protocol has several features that set it apart from other AMM protocols: 1. **Deep stablecoin liquidity:** like [Curve](https://dexplain.com/what-is-curve-finance-and-crv/), the protocol can support large stablecoin to stablecoin trades with low slippage. 2. **Reserve weights:** following [Balancer](https://dexplain.com/start-balancer-liquidity-mining-to-earn-bal-tokens/), liquidity pools in Shell can have weights. For example, the stablecoin launch pool is 30% DAI, 30% USDC, 30% USDT and 10% SUSD. 3. **Protections against broken pegs:** Shell pools also have a minimum and maximum allocation for each stablecoin. This is a feature similar to mStable which ensures if an asset loses its peg, liquidity providers will not lose all their deposits. 4. **Dynamic fees:** Looking at [Mooniswap’s innovative approach](https://dexplain.com/what-is-mooniswap-the-new-automated-market-maker-by-1inch/) to redistributing profits from arbitrage traders to liquidity providers, pools on Shell will charge a dynamic fee. For example, a higher trading fee will be set if a stablecoin deviates from its peg. 5. **Interoperability with aTokens and cTokens:** excitingly Shell Protocol makes no difference if the stablecoin is deposited in an [Aave](https://dexplain.com/aave-protocol-overtakes-maker-with-over-1-5-billion-locked/) or Compound lending pool. Meaning you can trade aUSDC or cDAI directly without needing to first withdraw. Much like using [Furucombo](https://dexplain.com/furucombo-lets-you-save-gas-for-your-defi-strategies/) users will be able to save on gas fees! ## Flexible Liquidity Pools The best part is the five features above can change post-deployment. No need to redeploy smart contracts or schedule protocol upgrades which [can cause token holders to get nervous](https://dexplain.com/sushiswap-update-exit-scam-takeover/). Shell pools can dynamically adapt to new market conditions or use cases. **You Might Also Like:** - [What is Pickle Finance? Bringing Stability to DeFi](https://dexplain.com/what-is-pickle-finance-bringing-stability-to-defi/) - [Value Liquid will feature Flexible Farming](https://dexplain.com/value-liquid-will-feature-flexible-farming/) - [Double Farming with SashimiSwap](https://dexplain.com/double-farming-with-sashimiswap/) Did a stablecoin lose its peg completely? Did a project in your [DeFi index pool](https://dexplain.com/piedao-introduces-dough-liquidity-mining/) fail? Remove it and replace it with a different stablecoin/token! Overall, the increased flexibility will create safer pools for liquidity providers. > 🐚🐚🐚🐚🐚🐚🐚🐚🐚🐚 > 🐚SHELL RELEASE!🐚🐚🐚 > 🐚🐚🐚🐚🐚🐚🐚🐚🐚🐚 > We are thrilled to announce [@ShellProtocol](https://twitter.com/ShellProtocol?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) integration in [#1inch](https://twitter.com/hashtag/1inch?src=hash&ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com)! New stable token liquidity protocol! 🚀🦄🌈[#DeFi](https://twitter.com/hashtag/DeFi?src=hash&ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) [pic.twitter.com/ZhRMdacvYp](https://t.co/ZhRMdacvYp?ref=dexplain.com) > > — 1inch Network (@1inch) [October 5, 2020](https://twitter.com/1inch/status/1313234216247799813?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) Lastly, the team is not rushing out the SHELL farming, which is a strong indication the project is aiming for long term sustainability with their [tokenomics](https://dexplain.com/what-is-harvest-finance-defi-with-farm-tokenomics/). Their announcement post [mentions potential retroactive rewards](https://medium.com/shell-protocol/shell-protocol-launches-first-stablecoin-pool-f874d383d25e?ref=dexplain.com), 1inch has already taken notice, perhaps you should too? ### Value DeFi Protocol Migrates $140M Liquidity from Balancer URL: https://dexplain.com/value-defi-protocol-migrates-140m-liquidity-from-balancer/ Last updated: 2021-12-01T16:15:53.000Z [Value DeFi Protocol](https://dexplain.com/tag/value-liquid) has successfully migrated $140M in liquidity to its own automated market maker (AMM) known as [Value Liquid](https://dexplain.com/yfv-finance-plans-to-migrate-liquidity-from-balancer/). As reported, Value Liquid is an innovative AMM featuring [flexible farming](https://dexplain.com/value-liquid-will-feature-flexible-farming/) to earn liquidity providers higher rewards. During this time the project also rebranded from [Yfv Finance](https://dexplain.com/tag/yfv-finance) to Value DeFi Protocol. The new branding is to send a message that the project is well beyond being a simple yield farming protocol. As a result, the team no longer wishes to be seen as [YFI-clone](https://dexplain.com/yearn-finance-vaults-explained/) given they are developing [a full suite of DeFi products](https://dexplain.com/yfv-finance-launches-value-vaults/). ![](https://dexplain.com/content/images/2021/12/value-defi-protocol.webp) ## Value Liquid Not Your Average AMM The new swapping protocol immediately shot up to being a Top 5 DEX by total value locked. Within the first 12 hours, trading volume rose to $4M which would rank Value Liquid around the 15th position in the [DeFi](https://dexplain.com/tag/defi) space. Attention appears to be growing around the new protocol, especially given that [the VALUE governance token](https://dexplain.com/yfv-finance-launches-value-and-governance-vault/) is nearly fully issued so there are no fears of over emission. Additionally, token holders stand to earn a percentage of trading fees from all the trades. ![](https://dexplain.com/content/images/2021/12/value-liquidity-analytics.webp) **Upgrades from Balancer…** It is important to note Value Liquid is not just a clone protocol launching a vampire attack. The platform solves several problems with [Balancer’s code](https://dexplain.com/start-balancer-liquidity-mining-to-earn-bal-tokens/), such as adding support for Tether USDT and other mainstream ERC20 tokens. - Future plans during phase 3 include migrating liquidity off [Uniswap](https://dexplain.com/tag/uniswap) and [Sushiswap](https://dexplain.com/tag/sushiswap). If successful, this could make Value Liquid the biggest DEX by TVL. **Built for partnerships…** Excitingly projects will soon be able to launch their own liquidity mining programs powered by Value DeFi. Value Liquid will support the creation of [custom farming pools](https://medium.com/@valuedefi/value-october-roadmap-d3e8db5c86d3?source=---------2----------------------------) to distribute new yield farming tokens. Consequently, the platform could replace Uniswap as the number one DEX for token launches. ### Farming on Binance Smart Chain with PancakeSwap URL: https://dexplain.com/farming-on-binance-smart-chain-with-pancakeswap/ Last updated: 2022-01-03T16:55:59.000Z PancakeSwap is an automated market maker (AMM) deployed on [Binance Smart Chain](https://dexplain.com/tag/binance-exchange), it enables you to instantly swap two BEP20 tokens. The benefit of being powered by BSC over [Ethereum](https://dexplain.com/tag/ethereum) comes in the form of fast and cheap transactions. What this means is that anyone with any sized portfolio can participate in [liquidity mining](https://dexplain.com/tag/yield-farming) to farm CAKE tokens on PancakeSwap. Gone are the days where small farmers have been shoved out due to [rising gas fees](https://dexplain.com/loopring-the-solution-to-high-ethereum-gas-fees/). ![](https://dexplain.com/content/images/2021/12/cake-cake.webp) ## What is PancakeSwap? PancakeSwap is an easy way to trade BEP-20 tokens such as [Venus XVS](https://dexplain.com/what-is-venus-xvs-defi-platform-on-binance-smart-chain/) or [CREAM](https://dexplain.com/cream-finance-launches-on-binance-smart-chain/) via automated liquidity pools, there is a 0.2% trading fee. Users can also supply assets as a liquidity provider to earn 0.17% of the trading fees, and 0.03% is sent to the PancakeSwap treasury. Liquidity providers can also earn additional rewards by farming CAKE tokens by staking in pools. Pancakeswap is a little different from other [DeFi farming protocols](https://dexplain.com/tag/defi) by adding a gamification element with a second token called SYRUP. ![](https://dexplain.com/content/images/2021/12/syrup-pool-syrup-pool.webp) yrup is an additional incentive mechanism for the platform, where 25% of CAKE emissions are distributed to SYRUP holders who stake. Users can swap CAKE for SYRUP at a 1:1 ratio, so in that sense, the two tokens are pegged to each other. The game is to find the correct balance to earn the most farming rewards. **With The Same Flavor:** - [7 Reasons Swipe (SXP) DeFi plans with Binance Chain will rocket](https://dexplain.com/sxp-price-predictions-7-reasons-swipe-defi-plans-will-rocket/) - [Cream Finance burns 67.5% of CREAM total supply](https://dexplain.com/cream-finance-burns-67-5-of-cream-total-supply/) - [Kava launches Harvest for cross-chain Yield Farming](https://dexplain.com/kava-launches-harvest-for-cross-chain-yield-farming/) Currently, SYRUP is also a way to form partnerships with other teams building on the Binance Smart Chain. With Syrup Pools holders can choose to stake for different tokens rewards such as TWT or [XVS](https://dexplain.com/swipe-wallets-sneak-peek-of-venus-protocol/). It’s kind of like an extra step to getting an airdrop. ## How to start farming on PancakeSwap? First, you need to create a wallet that can connect to BSC. We’re going to do this by adding the network to MetaMask extension for Chrome or Firefox. You will also need to buy some BNB, if you’ve never bought cryptocurrency before, recommend [signing up to Binance](https://www.binance.com/en/register?ref=X8XUVA60). #### **Creating a wallet** 1. If you don’t have MetaMask installed you can [download it here](https://metamask.io/download.html?ref=dexplain.com). Note this tutorial is for the desktop extension version. 2. Once installed, open the app and click **Get Started** and then **Create a Wallet**. 3. Set a password of at least 8 characters. ![](https://dexplain.com/content/images/2021/12/seed-phrase.webp) 4\. Now for the **important** part, MetaMask will display your secret backup phrase. This is your 12-word seed phrase and you need to save it. Without your backup phrase, you may lose your wallet and funds forever. **Congratulations!** Your wallet is now created, but by default, MetaMask will connect to [Ethereum](https://dexplain.com/tag/ethereum). #### **Adding Binance Smart Chain** 1. First, click on **Settings** andthen **Add a new network**. ![](https://dexplain.com/content/images/2021/12/metamask-settings.webp) 2\. You need to fill in the fields with the following: - Network Name: Binance Smart Chain - New RPC Url: [https://bsc-dataseed.binance.org/](https://bsc-dataseed.binance.org/?ref=dexplain.com) - ChainID: 56 - Symbol: BNB - Block Explorer: [https://bscscan.com](https://bscscan.com/?ref=dexplain.com) Once you click **Save**, MetaMask should automatically connect to BSC. You can check by opening the [Pancakeswap website](https://pancakeswap.finance/?ref=dexplain.com) and connecting your wallet. If everything worked correctly, you should now be able to click the **See the Kitchen** button. ![](https://dexplain.com/content/images/2021/12/see-the-kitchen.webp) Happy farming, or happy stacking those pancakes – as we should say! Now that you know how to access the Binance Smart Chain, you can try out [other DeFi protocols such as Venus Protocol](https://dexplain.com/venus-protocol-defi-tutorial-how-to-supply-and-borrow-assets-mint-vai-stablecoin-and-farm-xvs-tokens/). Where you can earn interest on your BEP20 token deposits such as SXP, BNB, USDC, USDT and BUSD. Along with [earning rewards in XVS tokens](https://dexplain.com/venus-protocol-launches-to-mainnet-with-xvs-farming/). Maybe even sign up for [Binance Card](https://dexplain.com/best-crypto-cards/) to spend your yields instantly in store or online? ### What is Axie Infinity? Gaming To Earn Money URL: https://dexplain.com/what-is-axie-infinity-gaming-to-earn-money/ Last updated: 2021-11-30T15:11:55.000Z Axie Infinity is currently the fastest growing [blockchain](https://dexplain.com/tag/blockchain) game, mostly because users can earn money just by playing the game. Definitely, the game has seen a boom due to the general growth of the [NFTs sector](https://dexplain.com/tag/non-fungible-token) and interest in [crypto collectibles](https://dexplain.com/tag/collectibles). Along with gaming in general seeing a huge rise as people are stuck at home due to global pandemic. ****Wait, we see you’re getting confused…** but your thoughts are correct: All this time you have been chasing moon gems on [Uniswap](https://dexplain.com/tag/Uniswap) you could have been earning [crypto](https://dexplain.com/tag/crypto) by playing a fun game? ![](https://dexplain.com/content/images/2021/11/image-70.png) No doubt you saw that ****Small Love Potion (SLP) token** moving volume but couldn’t figure out why there was demand. Let’s dive in. ## **What is Axie Infinity?** Axie Infinity at its core is a digital pet universe very similar to Pokemon or Digimon. Players raise their fantasy creatures called Axies, with the goal of upgrading their attributes to make them better when it comes to battles. Axie is a blockchain-based game, meaning Axies and items are non-fungible tokens (NFTs). ### **What is AXS token?** The Axie universe contains two native protocol tokens: AXS and SLP. Axie Infinity Shards (AXS) is a governance token, enabling holders to decide how to use the community treasure funds. Whereas, Small Love Potions (SLP) are a core part of the gameplay (more on that below). To buy or sell, you can find [both tokens traded on Binance](https://www.binance.com/en/register?ref=X8XUVA60), and it is possible to trade AXS with leverage. However, if you’re looking to earn money just by playing the game then check out the article below. [dExplain - Private Site Access![](https://dexplain.com/favicon.ico)Private Site Access](https://dexplain.com/how-to-earn-money-playing-axie-infinity/) Axies are owed by the players (along with in-game assets), meaning you can trade them through any NFT capable [decentralized marketplaces](https://dexplain.com/what-is-rarible-solving-the-pains-of-digital-art-with-nfts/) to earn cryptocurrency. One of the reasons the game is growing so fast is because Axie is the first blockchain game with a mobile application. Additionally, you can earn money by simply playing the game. ****You Might Like:** - [What is Aavegotchi? Where NFTs meet DeFi](https://dexplain.com/what-is-aavegotchi-where-nfts-meet-defi/) - [Enter Ethverse where Minecraft meets Ethereum](https://dexplain.com/enter-ethverse-where-minecraft-meets-ethereum/) - [SuperRare has earned artists over $2M since launch](https://dexplain.com/superrare-has-earned-artists-over-2m-since-launch/) ****Earn SLP tokens…** [Small Love Potions](https://info.uniswap.org/token/0x37236cd05b34cc79d3715af2383e96dd7443dcf1?ref=dexplain.com) are required if you are trying to breed more Axies. Now SLP is an ERC20 token which is listed on [Uniswap](https://dexplain.com/uniswap-launches-uni-token-and-liquidity-mining/). Because you can earn SLP tokens just by playing the game, there are a large number of players who just play to earn SLP and sell them on Uniswap. In fact, it has become [a full-time job for some families](https://www.coindesk.com/nft-game-filipinos-covid?ref=dexplain.com) enabling them to survive! - The big money is in the breeding and rarity of the Axies. [Digital Delphi](https://decrypt.co/42958/delphi-digital-buys-five-ethereum-nfts-for-162000?ref=dexplain.com) recently bought five NFTs in the game for over $162,000. ****Looking to the future…** Excitement is growing over landplay, where players will be able to play on the land they own. As a result, the marketplace volume for new landowners has surged. No doubt traders have seen the big profits of flipping digital land on [OpenSea](https://dexplain.com/what-is-opensea-crypto-collectibles-marketplace/), and want to jump in early. We hope you enjoyed learning about what is Axie Infinity, for this metaverse game, its just the beginning. ### What is Venus (XVS)? DeFi platform on Binance Smart Chain URL: https://dexplain.com/what-is-venus-xvs-defi-platform-on-binance-smart-chain/ Last updated: 2021-12-06T22:31:15.000Z [Swipe](https://dexplain.com/tag/swipe-wallet/) has revealed more details around the new [DeFi](https://dexplain.com/tag/defi) platform called [Venus Protocol](https://dexplain.com/swipe-wallets-sneak-peek-of-venus-protocol/). Venus is a decentralized finance (DeFi) platform on Binance Smart Chain for lending and borrowing via the minting of synthetic stablecoins. Here we will take a look at what is Venus, and explore XVS token’s use cases. Developed by Swipe, it looks like Venus Protocol will be Binance’s answer to having an [MakerDAO-like](https://dexplain.com/binance-lists-maker-mkr-and-dai-more-defi-tokens-enter-cefi/) product on Binance Smart Chain. We can already see that Binance is heavily pushing the platform’s release, [announcing new launchpools](https://www.binance.com/en/support/announcement/6d7ec713ae0c40c08cc3cfd9a8fd907a?ref=dexplain.com), where users can stake BNB, SXP, or BUSD to start earning XVS tokens. ## **What is Venus (XVS)?** At its core, Venus is an algorithmic money market protocol for BEP-20 assets, which are native Binance Smart Chain tokens. This means Venus is a DeFi lending platform, where users can lock up supported crypto assets as collateral and borrow, by minting VAI. You can read through [our in-depth guide to using Venus Protocol](https://dexplain.com/venus-protocol-defi-tutorial-how-to-supply-and-borrow-assets-mint-vai-stablecoin-and-farm-xvs-tokens/), and learn how to earn interest on your crypto. And how to maximise your [DeFi strategy to farm XVS tokens](https://dexplain.com/venus-protocol-launches-to-mainnet-with-xvs-farming/). VAI is the protocol’s default stablecoin which is pegged to the value of 1 USD. Users will also earn interest on any crypto assets they supply to the protocol. Given that Venus is on Binance Smart Chain, the protocol will be able to leverage BSC to offer [cross-chain DeFi](https://dexplain.com/what-is-kava-a-cross-chain-defi-platform/). Such as supporting BTC, USDT, USDC, BNB and SXP from launch. ****Decentralized governance…** Venus will be governed by XVS holders. Proposals could be around adding new collateral options, product improvements, or changing parameters such as fees. XVS is a BEP-20 token and has a total supply of 30,000,000. - 79% of XVS’s total supply will be distributed by ecosystem mining, an initiative to reward users of the protocol. This should result in a very fair token distribution. ****Collateral represented by vTokens…** The decision to issue vTokens to represent the underlying collateral mirrors DeFi protocols such as [Aave](https://dexplain.com/aave-protocol-overtakes-maker-with-over-1-5-billion-locked/) or [Curve](https://dexplain.com/what-is-curve-finance-and-crv/) on Ethereum. For instance, this will support the future release of automated yield aggregators and robo-advisors on Binance Smart Chain. Expect to see follow up vault products like [Yearn Finance](https://dexplain.com/yearn-finance-vaults-explained/) on BSC! ### What is CryptoPunks? The First Crypto Collectible URL: https://dexplain.com/what-is-cryptopunks-the-first-crypto-collectible/ Last updated: 2021-12-01T16:02:20.000Z CryptoPunks are 10,000 unique collectible characters with proof of ownership on the [Ethereum](https://dexplain.com/tag/ethereum) blockchain. The project is the first-ever [non-fungible token](https://dexplain.com/tag/non-fungible-token) to deploy on Ethereum. As a result, CryptoPunks is the backbone for the ERC721 token standard which powers nearly all blockchain digital art and [crypto collectibles](https://dexplain.com/tag/collectibles). More importantly, without CryptoPunks we may not have the modern [CryptoArt](https://dexplain.com/tag/crypto-art) movement we see today on platforms such as [SuperRare](https://dexplain.com/superrare-has-earned-artists-over-2m-since-launch/). ## What is CryptoPunks? They are uniquely generated characters in the form of 24×24 pixel art images. No two Punks are alike as they have been generated algorithmically. As you may have guessed, the characters follow a punk theme though there are some rarer types. Such as apes, zombies, and even some aliens. Using the [larvalabs website](https://larvalabs.com/cryptopunks?ref=dexplain.com), you can browse a CryptoPunk to see their accessories and attributes. Along with their transaction (sale) history, meaning you can always verify who owns which CryptoPunk. ![](https://dexplain.com/content/images/2021/12/punks-punks.webp) The project started by two creative technologists called Matt and John, now known as Larvalabs. Initially, anyone with an Ethereum wallet could claim a CryptoPunk. However, today if you want to own a Punk you would have to buy it. All of the sales happen through the larvalabs website, which is a little tricky to navigate. More recently, developers have wrapped Punks to enable buying and selling on other marketplaces which are more beginner friendly. ## Wrapped Punks for Trading As the first non-fungible token, they do not follow the ERC721 standard. As a result, they are not compatible by default with platforms such as [OpenSea](https://dexplain.com/what-is-opensea-crypto-collectibles-marketplace/) or [Rarible](https://dexplain.com/what-is-rarible-solving-the-pains-of-digital-art-with-nfts/). This makes it harder for investors to buy and sell them safely. Luckily, there is a tool by [arkgallerydao](https://twitter.com/arkgalleryDAO?ref=dexplain.com) which lets you wrap them. Once wrapped, the Punks collectibles are tradable on other NFT marketplaces. ![](https://dexplain.com/content/images/2021/12/cryptopunks-ranking.webp) Interest in owning a Punk has grown since the wrapper tool was released, we expect prices will start going up by demand! ### What is LuaSwap? Liquidity Protocol by TomoChain URL: https://dexplain.com/what-is-luaswap-liquidity-protocol-by-tomochain/ Last updated: 2021-12-01T15:45:53.000Z LuaSwap is emerging as an upcoming multi-chain [automated market maker (AMM)](https://dexplain.com/what-is-mooniswap-the-new-automated-market-maker-by-1inch/) by TomoChain. Inspired by the hot trends of [yield farming](https://dexplain.com/tag/yield-farming) and liquidity mining, such as Balancer and UniSwap, TomoChain is launching its initiative to grab a share of the [DeFi](https://dexplain.com/tag/defi) market. At its core, LuaSwap appears to be a copy of [SushiSwap](https://dexplain.com/tag/sushiswap), however, the team has pledged to focus on growing liquidity of emerging smaller tokens. Additionally, to become a multi-chain protocol by launching on another low-cost public chain. Currently, they have not specified which one, but it seems certain it would be TomoChain, [looking at their governance portal](https://snapshot.luaswap.org/?ref=dexplain.com#/luaswap/proposal/QmRzVmzz9XTg8vaW3kU4P1piBs1t431rtYgthmeacY6HJx). ## What is LuaSwap? LuaSwap is an AMM based [decentralized exchange](https://dexplain.com/tag/decentralized-exchange) for token swaps. The protocol enables liquidity providers of certain pools on Uniswap to farm LUA tokens. Aiming to support smaller pools and not fight for liquidity with top tokens, LuaSwap will provide farmers with new opportunities. ![](https://dexplain.com/content/images/2021/12/luaswap-APY.webp) Furthermore, the platform has gone through security audits by TomoChain unlike many of the risky DeFi food-themed clone tokens. **You May Also Like:** - [Double Farming with SashimiSwap](https://dexplain.com/double-farming-with-sashimiswap/) - [Kava launches Harvest for cross-chain Yield Farming](https://dexplain.com/kava-launches-harvest-for-cross-chain-yield-farming/) - [Value Liquid will feature Flexible Farming](https://dexplain.com/value-liquid-will-feature-flexible-farming/) LUA’s is the protocol’s governance token, holders will be able to decide on which tokens the platform supports, and on all future cross-chain development. **Fair launch…** We draw similarities to [SashimiSwap](https://dexplain.com/tag/sashimiswap) with team aelf behind them for funding. As a result, LuaSwap launched with no seed investment, founder’s fees, or pre-mine. - Given the plan to go after smaller pools of emerging tokens. It appears that LuaSwap is looking for projects that will be much more open to migrating to TomoChain. Not a bad plan, and beneficial for all parties involved. **Sustainable tokenomics…** To attract early adopters, there will be a period of hyperinflation where block rewards have a 128 times multiplier. However, to incentivize [farmers](https://dexplain.com/akrologize-and-farm/) to stay long-term LUA’s token follows an in-built one-year vesting schedule where 75% of rewards are locked. ### PieDAO Introduces DOUGH Liquidity Mining URL: https://dexplain.com/piedao-introduces-dough-liquidity-mining/ Last updated: 2021-12-01T15:33:50.000Z PieDAO, a project for asset management through tokenized portfolios, has launched its [liquidity mining](https://dexplain.com/tag/yield-farming) campaign for DOUGH tokens. DOUGH is PieDAO’s governance token, by holding the token you’re a member of the DAO and can participate in [governance](https://dexplain.com/yfv-finance-launches-value-and-governance-vault/). Importantly, DOUGH holders vote on all matters related to the indexed portfolios. ## What is PieDAO? PieDAO enables the creation of an entire portfolio to be in a single token. This can include exposure to both [crypto](https://dexplain.com/tag/cryptocurrency) and traditional [synthetic](https://dexplain.com/perlinx-the-launch-of-the-next-defi-giant/) assets. The tokenized portfolio allocations are known as PIEs. The idea is to make entering and managing [DeFi portfolios](https://dexplain.com/tag/defi) much easier. With an abundance of DeFi tokens, that all have their different mechanisms, things can quickly become overly complicated. With PIEs you can diversify your digital asset allocation through buying one tokenized basket. For example, a popular PIE is DeFi+S which aims to give holders exposure to a basket of small-cap DeFi tokens: BAL, LRC, REN, UMA, PNT, and MLN. ![](https://dexplain.com/content/images/2021/12/Pies-Pies-PieDAO.webp) Traditional investors will note the similarities to an index fund or ETFs for diversified portfolios in a single asset. However, traditional finance products are rent-seeking by nature and come with high annual fees. More negatively, ETFs follow strict allocations for the underlying assets that cannot change quickly (if ever). PieDAO has minimal fees that go to DAO members (DOUGH token holders) through profit sharing. Additionally, with community voting, the index allocation weights or assets change on the fly. ## How to farm DOUGH tokens? Currently, there are two different [Balancer](https://dexplain.com/start-balancer-liquidity-mining-to-earn-bal-tokens/) and one [Uniswap](https://dexplain.com/uniswap-launches-uni-token-and-liquidity-mining/) pool that can earn you DOUGH rewards: 1. DOUGH/ETH (Balancer 80/20) 2. DeFi+S/ETH (Balancer 70/30) 3. DeFi+S/DAI (Uniswap v2 50/50) Farmers need to [add liquidity to one of these pools](https://pools.piedao.org/?ref=dexplain.com) and then stake those liquidity tokens to start earning rewards. The PieDAO pool management interface is very easy to understand and let’s you manage your farming. ![](https://dexplain.com/content/images/2021/12/PieDAO-Liquidity-mining.webp) During the first week, 250k DOUGH tokens are split pro-rata between liquidity providers who stake their LP tokens. Afterward, the liquidity mining distribution will go down to 150k DOUGH weekly. Be aware that the bulk of the rewards are going to the DOUGH/ETH pool, to bootstrap the new token’s liquidity. Therefore, for farmers happy to take risks we recommend the DOUGH pool as it can potentially provide higher returns. However, for risk-averse farmers, the Uniswap pool will have minimal [impermanent loss](https://dexplain.com/what-is-mooniswap-the-new-automated-market-maker-by-1inch/) as it is a stablecoin pair. ### Value Liquid will feature Flexible Farming URL: https://dexplain.com/value-liquid-will-feature-flexible-farming/ Last updated: 2021-12-01T15:20:56.000Z [Yfv Finance](https://dexplain.com/tag/yfv-finance) revealed its roadmap for Value Liquid, an innovative automated market maker (AMM) designed to facilitate yield farming for its liquidity providers. Yfv finance combines many popular DeFi products such as [automated asset management](https://dexplain.com/yfv-finance-launches-value-vaults/). Along with liquidity mining into one product, [Value Liquid](https://dexplain.com/yfv-finance-plans-to-migrate-liquidity-from-balancer/), incentivizing users with rewards in VALUE tokens. Interestingly, the platform will enable liquidity providers to move assets to another protocol while continuously earning rewards from the platform. ## What is Value Liquid’s flexible farming? It is team Yfv’s answer to the competitive nature of [yield farming](https://dexplain.com/tag/yield-farming) for staking LP tokens. Currently, we find a landscape where DeFi platforms keep offering new incentives to attract liquidity providers. In most cases, the yield [farmers](https://dexplain.com/akrologize-and-farm/) are not interested in the project itself and rather the best possible returns. As a result, you find a scenario where participants continuously move their assets around. This clogs up the network and [raises gas fees](https://dexplain.com/loopring-the-solution-to-high-ethereum-gas-fees/) for everyone. **A disadvantage for small portfolios…** If you can’t afford the high transaction costs of moving assets around. Then, you are stuck and will not earn the best yields. Value Liquid’s innovation is that it will minimize all costs associated with moving your assets to a new farming opportunity. - For example, if [Balancer](https://dexplain.com/start-balancer-liquidity-mining-to-earn-bal-tokens/), [Uniswap](https://dexplain.com/uniswap-launches-uni-token-and-liquidity-mining/), or [SushiSwap](https://dexplain.com/vampire-bite-sushiswap-leaves-uniswap-behind/) is offering a higher APY. You can convert your funds to farm on those protocols, but Value Liquid manages it for you. It resembles the [double farming features](https://dexplain.com/double-farming-with-sashimiswap/) we find in SashimiSwap. **Flexible farming avoids inefficiencies…** Instead of losing liquidity providers, Value Liquid provides a one-click solution for rotating staked LP tokens into a different protocol. This way the protocol still manages the liquidity, meaning there is no negative impact on slippage rates. If you’re feeling confused, check out the following [graphic for Value Liquid which breaks down](https://medium.com/@yfv.finance/roadmap-update-value-liquid-3a668c58fab0?ref=dexplain.com) the roadmap plans. ### Will Polkastarter be bigger than Uniswap? URL: https://dexplain.com/will-polkastarter-be-bigger-than-uniswap/ Last updated: 2021-12-01T15:17:46.000Z Polkastarter is a [decentralized exchange (DEX)](https://dexplain.com/tag/decentralized-exchange) for cross-chain token pools, built on [Polkadot](https://dexplain.com/tag/polkadot). Decentralized finance ([DeFi](https://dexplain.com/tag/defi)) products have made huge leaps, with many successful projects such as [Uniswap](https://dexplain.com/uniswap-launches-uni-token-and-liquidity-mining/) or [Aave](https://dexplain.com/aave-protocol-overtakes-maker-with-over-1-5-billion-locked/). Protocols are trading or locking up billions of USD value in cryptocurrency. For the first time, we are starting to see a future of crypto which is not just deposits on centralized exchanges. Yet the rapid growth has brought along notable scalability problems. Especially on [Ethereum](https://dexplain.com/tag/ethereum), with network fees and slowness, driving users back to CEXs. ## Enter Polkastarter Polkastarter is the next step for innovating DeFi, one where projects embrace interoperability between blockchains. Meaning they are not just operating on a single network. Polkastarter will power [cross-chain token pools](https://dexplain.com/what-is-darwinia-network-cross-chain-transfers-made-easy/) and auctions by leveraging the power of the Polkadot network. **In The Same Flavour:** - [Cross-chain DeFi about to explode? Polkadot to Ethereum bridge](https://dexplain.com/cross-chain-defi-about-to-explode-polkadot-to-ethereum-bridge/) - [What is Pickle Finance? Bringing Stability to DeFi](https://dexplain.com/what-is-pickle-finance-bringing-stability-to-defi/) - [All Eyes on Dock’s PoA Mainnet Launch](https://dexplain.com/all-eyes-on-docks-poa-mainnet-launch/) As a result, the platform can provide faster and cheaper transactions while remaining connected to the Ethereum network (or other blockchains) for liquidity. ## Will Polkastarter eclipse Uniswap? Polkastarter is not another [food theme DeFi clone](https://dexplain.com/vampire-bite-sushiswap-leaves-uniswap-behind/) that has copied Uniswap smart contracts. The platform will enable the token pools to have several different types of swaps: fixed ratio swaps, dynamic ratio swaps, dutch auctions, and even sealed-bid auctions. You will even be able to create private pools with passwords. ![](https://dexplain.com/content/images/2021/12/polkastarter-roadmap.webp) **Raise capital…** With the new token pool features and cross-chain transfers built-in, Polkastarter can become an industry leader for raising capital in a decentralized/fair launch environment. Decentralized token offerings do happen on Uniswap, but if you’re not quick then you will miss the best price. - The platform also has a native utility and governance token POLS. Token holders will be able to vote on product features, as the platform intends to be governed by its community. **Token use case and value…** POLS tokenomics have been designed to ensure the token’s price is correlated to platform usage. Because it is not only a governance token. Traders will need to pay transaction fees in POLS for swapping tokens. Additionally, there is a requirement for pool creators to hold POLS tokens. ### What is DEGO Finance? Sustainable Liquidity Mining URL: https://dexplain.com/what-is-dego-finance-sustainable-liquidity-mining/ Last updated: 2021-12-01T15:25:50.000Z DEGO Finance is a [DeFi farming](https://dexplain.com/tag/yield-farming) platform for liquidity mining where users can deposit assets and earn rewards. At first glance, you may label it as another copycat following the food token themed protocols. However, the platform utilizes a different formula for rewarding liquidity providers, one that enables a more decentralized and sustainable ecosystem. Dego finance calls it [liquidity mining](https://dexplain.com/start-balancer-liquidity-mining-to-earn-bal-tokens/) with algorithmic adjusted. ## Why use DEGO finance? Most of the popular DeFi farming protocols such as [SushiSwap](https://dexplain.com/tag/sushiswap) or [SashimiSwap](https://dexplain.com/tag/sashimiswap) follow a design that rewards whales. Whales can easily earn huge chunks of liquidity rewards, which they usually dump on the market. For smaller shrimp farmers, this can have a massive negative impact on their [DeFi strategy](https://dexplain.com/tag/defi). ![](https://dexplain.com/content/images/2021/12/dego-finance.webp) Furthermore, smaller portfolios cannot move their funds around easily due to high transaction costs. Overall, the craze has created numerous DeFi protocols that do not have sustainable ecosystems or tokenomics in the long run. ## How does DEGO remain sustainable? The platform uses a set of deterministic algorithms for liquidity mining. When a user stakes LP tokens in the platform, it converts them to POWER to determine how much rewards they will receive. You could compare POWER to hashrate in [Bitcoin](https://dexplain.com/tag/bitcoin) mining. The formula puts less importance on the staked amount, and more on the total amount of participants. Which is why [Dego Finance](https://dego.finance/home?ref=dexplain.com) also has an upcoming referral program. **Hunting DeFi gems is costly…** Being an early adopter can be worthwhile, but it is hard to catch the correct timing and you always risk the project being a scam. Dego mitigates this risk by following a modular design where every DeFi protocol ([Aave](https://dexplain.com/aave-protocol-overtakes-maker-with-over-1-5-billion-locked/), [Uniswap](https://dexplain.com/uniswap-launches-uni-token-and-liquidity-mining/), [Yearn](https://dexplain.com/tag/yearn-finance) etc…) is a lego brick in its ecosystem. As a result, the platform creates a diverse investment portfolio for its users. - To add to the sustainability design, the DEGO governance token has a deflationary and profit sharing model. On every transfer, 1% is permanently destroyed through burning and 1% is transferred into the dividends pool. ![](https://dexplain.com/content/images/2021/12/NFTS.webp) **NFT mining…** the platform is forward thinking and has embraced the current market trend around [crypto collectibles and art](https://dexplain.com/tag/collectibles). Token holders can stake their DEGO tokens to yield farm unique non-fungible tokens which they can trade on [OpenSea](https://dexplain.com/what-is-opensea-crypto-collectibles-marketplace/) for additional income streams. ### What is Flamingo Finance? DeFi platform powered by NEO URL: https://dexplain.com/what-is-flamingo-finance-defi-platform-powered-by-neo/ Last updated: 2021-12-01T15:15:28.000Z Flamingo Finance aims to combine everything a [DeFi](https://dexplain.com/tag/defi) enthusiast would need in one platform. The project is the first major DeFi product living on the NEO blockchain. As a result, users avoid the high cost of transactions of [Ethereum](https://dexplain.com/tag/ethereum). Currently, Flamingo Finance leverages NEO’s native interoperability tech to provide [cross-chain](https://dexplain.com/what-is-kava-a-cross-chain-defi-platform/) swaps between Bitcoin, Ethereum, NEO, and Ontology. ## What is Flamingo Finance? Flamingo intends to be an all-around service for DeFi products powered by NEO. It features an automatic market maker that resembles [Uniswap](https://dexplain.com/tag/Uniswap). Liquidity providers can supply crypto assets to earn fees from swaps and rewards. However, liquidity pools use NEO tokens which follow the [NEP-5 standard](https://docs.neo.org/docs/en-us/sc/write/nep5.html?ref=dexplain.com). Flamingo makes it very easy to convert tokens through its Wrapper technology, a cross-chain asset gateway. Via the wrapper gateway, users can convert BTC, ETH, USDT, ONT into their corresponding NEP-5 token. ![](https://dexplain.com/content/images/2021/12/interoperabilitiy.webp) Flamingo is also a DeFi lending platform, where users can deposit crypto assets as collateral to mint stablecoins as a loan. The first stablecoin is Flamingo USD (FUSD) which is pegged to the US Dollar. The main difference compared to [Venus](https://dexplain.com/what-is-venus-xvs-defi-platform-on-binance-smart-chain/) or [MakerDAO](https://dexplain.com/aave-protocol-overtakes-maker-with-over-1-5-billion-locked/) approach is that Flamingo will collateralize liquidity provider tokens instead of the asset directly. Meaning they have combined an AMM and money market into one product. This is a very interesting approach, which will enable Flamingo to use capital more efficiently than just letting it sit idle in a pool. **You May Also Like:** - [7 Reasons Swipe (SXP) DeFi plans with Binance Chain will rocket](https://dexplain.com/sxp-price-predictions-7-reasons-swipe-defi-plans-will-rocket/) - [Yfv Finance launches Value Vaults](https://dexplain.com/yfv-finance-launches-value-vaults/) - [Start Balancer Liquidity Mining to earn BAL tokens](https://dexplain.com/start-balancer-liquidity-mining-to-earn-bal-tokens/) With stablecoins issuance, traders will also be able to enjoy [perpetual contracts](https://dexplain.com/bzx-protocol-is-back-with-bzrx-yield-farming/) that use the platform’s AMM pools for high liquidity. Flamingo’s exchange will offer a leverage of up to 10X for long or short positions. ## What is Flamingo Finance Token (FLM)? FLM is the platform’s native currency, its main purpose is for governance. Token holders will be able to vote on proposals to govern the platform, such as which crypto assets to support. The project has followed a fair launch with no pre-mine or coins allocated to its founding team. All FLM tokens will be distributed to the community through [liquidity mining](https://dexplain.com/vaults-farms-gas-whaaaat/). Subsequently, rewards for using the platform are in FLM tokens. For example, FLM may be given to users who provide liquidity, stake LP tokens, mint FUSD, or traders who margin trade. ## What is Flamincome? Once everything is up and running, the team aims to make it very easy for users to earn the maximum amount of yield or liquidity rewards. This will be possible via Flamincome, which provides functionalities that look very similar to [Yearn Finance](https://dexplain.com/yearn-finance-vaults-explained/) or [Value Finance](https://dexplain.com/yfv-finance-launches-value-vaults/) DeFi vaults. ![](https://dexplain.com/content/images/2021/12/ultimate-booster.webp) Flamincome will automatically optimize your deposits for the best yield farming or liquidity mining returns. Excitingly, it will also be able to generate [synthetic assets](https://dexplain.com/perlinx-the-launch-of-the-next-defi-giant/) for depositing into other DeFi protocols for additional liquidity mining. ### Interview with Vite: The Smart Contract Platform with Zero Fees URL: https://dexplain.com/interview-with-vite-the-smart-contract-platform-with-zero-fees/ Last updated: 2021-12-01T15:09:22.000Z [Vite](https://dexplain.com/tag/vite) is the world’s first [DAG-based](https://dexplain.com/what-is-vite-network-and-vitex/) smart contract platform, the design enables lightening fast transactions at zero fees. Team dExplain interviewed [COO Richard Yan](https://twitter.com/Gentso09?ref=dexplain.com) discussing a range of topics from how team Vite is structured, the benefits of trading on [ViteX decentralized exchange](https://dexplain.com/vite-hard-fork-plans-for-zero-fees-stablecoin-trading/), and the growing excitement around Vite Gateway 2.0 upgrades. ## Editor’s Questions **First off, thank you for agreeing to this interview. If our dates are correct, Vite mainnet and ViteX have been live for one year, happy anniversary! What were the biggest surprises your team has handled so far?** The biggest surprise for ViteX may have been how smoothly the exchange has been operating. We have attracted daily volume of up to 100 BTC, and for the most part of the year experienced no issues. This really speaks to the robustness and performance of the underlying Vite chain. This is a testament to the design choices of Vite chain’s block-lattice DAG ledger and DPOS consensus algorithm. **Your team structure is quite interesting, with R&D based in China and Marketing based in the US. Where was the original idea for Vite born?** The idea originally came from our [CEO Charles Liu](https://twitter.com/chunming%5Fliu?ref=dexplain.com) and co-founder [Leo Zhang](https://twitter.com/soliury?ref=dexplain.com). They were both technocrats active in the crypto community. And they wanted to create the “perfect coin” incorporating key features they wanted to see. The origin story is [here](https://medium.com/vitelabs/charles-liu-a-letter-to-the-vite-community-d17c116068bc?ref=dexplain.com). The team has two headquarters, in Beijing and Silicon Valley because of the global nature of crypto. **How does your marketing team operate in Asian markets? Do you see any emerging differences in the blockchain sector between US and Asian markets?** We have relationships with key media players in Asia, especially those in China. Besides China, we have very capable community managers in Japan and Vietnam, who run very active communities in their respective regions. There is a lot more fundamental research and innovation from the US. There are a lot of interesting token models in Asia. **Given Vite’s international team structure, what legal framework do you follow to protect your intellectual property?** The source code of Vite and ViteX is fully open-source. Others have inspired Vite to innovate. So we hope our innovation will inspire others to do the same. **While it’s healthy to not worry about the price during the mainnet development phase (referring to** [**your 2018 interview**](https://medium.com/vitelabs/vite-labs-ceo-charles-liu-building-truly-usable-and-useful-blockchain-70749ee6bdb2?ref=dexplain.com)**). Now that Vite is launched, do you specifically prepare for bear market scenarios? Such as the recent March or September price drops?** We have a healthy runway. We have set aside a sufficient amount of fiat for our operating expenses, most of which is R&D. As such, we are not too concerned with near term fluctuations. **After exploring Vite’s ecosystem, it seems to us the current price and low market capitalization means the project is undervalued. Do you think much about VITE’s price, does this affect your team’s morale?** If VITE price soars, of course, this will boost the confidence of everyone in the Vite community, both investors and the team. But market forces aren’t within our control. It makes more sense to focus on delivering on our roadmap, which we have control over. **Reading through the first** [**Vite Techie Community meetup**](https://forum.vite.net/topic/4194/vite-techie-forum-1?ref=dexplain.com)**, the release of ViteX Gateway 2.0 is gathering a lot of excitement. What will this tech unlock for Vite?** The multi-sig feature of Gateway 2.0 will ensure stronger decentralization on gateways, which will enhance the security of assets for ViteX users. **From what we understand Gateway 2.0 is open source, so any developer can leverage Vite blockchain to support cross-chain transfer of crypto assets in their product?** Yes, we plan to make this open-source. So other developers can make their own gateways with our tech. **Currently, we would compare ViteX to a layer 2 DEX on Ethereum such as [Loopring](https://dexplain.com/loopring-the-solution-to-high-ethereum-gas-fees/). They recently revealed instant swaps and future plans for liquidity pools with automated market makers – is this something we could expect to find planned in Vite 2.0 whitepaper?** We are already working on integrating with open source trading strategy projects (e.g., [Hummingbot](https://github.com/CoinAlpha/hummingbot?ref=dexplain.com)), which will further enhance the user experience on ViteX. Automated market makers are a fascinating development in DeFi. We currently have a traditional maker/taker model in ViteX but will study whether AMM makes sense as a complementary offering. **One of the main attractions to using ViteX, is that 100% exchange earnings are distributed to VX token holders in ETH, BTC, and USDT. We assume the dividends distribution model is why several major crypto regions (China & USA) cannot legally be served. Do you not worry if this choice may have a negative impact on ViteX adoption?** We work in compliance with local laws. Regardless of our emotions, this is what we must do to protect the platform, so it can sustainably serve our users. **The release of zero fees trading for stablecoin pairs (USDC/USDT, DAI/USDT, BUSD/USDT) seemed to be perfectly timed, given the high transaction costs traders face on other DEX protocols. Does your team have a mindset of “*we are an Ethereum killer*” or do you see a future of blockchain interoperability?** A likely scenario of our industry is co-existence of many blockchains, each serving a different set of use cases. That said, Ethereum needs to solve its problem of high fees, and ETH 2.0 seems to be coming to its rescue there (just not sure when it will ship). **We note Vite has also been actively collaborating with governments at regional and national levels. We think the latest was an initiative with Inclusive Value Ledger in New York, have the talks been positive?** Yes, we are in active contact with the state assembly member on this matter. In addition, our team will be partaking in a talk with [Mr. Andrew Yang](https://twitter.com/AndrewYang?ref=dexplain.com), the previous American presidential candidate, on how blockchain can be a crucial element for upgrading software systems in the public sector. **We would assume your pilot scheme with the American city of Syracuse to build Syracuse Coin, would have involved many interactions with people who know little about cryptocurrency. How did Vite approach this challenge?** In our attempt to explain the tech, we made many analogies with centralized services, such as coupon apps. Turns out there were other city coins before us, such as the Ithaca Hour – but it’s un-digitized and centrally controlled, and its operation lacks the transparency we were hoping to provide. **You have stated that Vite is being used to fight Covid-19 outbreaks in China (Anti-epidemic Materials Tracing Platform** *)* **, this is an amazing use case for blockchain adoption. Could you elaborate on how this happened?** In response to the nationwide crisis, we wanted to make our share of contribution, and so we created a website that tracks donation of products (product description, donor data, shipment information) on the Vite chain. This way, the information is transparent, immutable and available on a real-time basis. ## Community Questions **If we are using historical figures to analogize blockchain projects, who would Vite be?** James Watt did not invent the steam engine but made crucial modifications to the original design, and subsequently popularized his invention. We think of ourselves as the James Watt of blockchain. **Will VX be listed on a high volume exchange such as Binance?** Yes, we’ve been in discussion with high profile exchanges such as Binance. Note that VITE is already listed there. **Does holding VX provide any other benefits other than dividends?** VX has value as well, and there’s plenty of liquidity to trade it. **Are there any plans for a fiat on ramp to be integrated into ViteX?** Yes, once we prove out user interest, we will do this integration. We have been speaking with many on-ramp providers. **That wraps up our interview, thank you for your time. Do you have any closing words you would like to leave with the community?** [ViteX](https://vitex.net/?ref=dexplain.com) operators will keep adding new and interesting coins to the exchange. Keep an eye out for them and enjoy trading at unparalleled speed and low cost on a truly decentralized exchange. And remember, all this is made possible with the solid foundation of the Vite technology. ### Ocean Protocol chooses to Hard Fork over KuCoin Hack URL: https://dexplain.com/ocean-protocol-chooses-to-hard-fork-over-kucoin-hack/ Last updated: 2021-12-01T15:01:16.000Z On Friday 25th, the cryptocurrency exchange [KuCoin was hacked](https://www.kucoin.com/news/en-kucoin-security-incident-update?ref=dexplain.com), resulting in over $203 million in coins being stolen. The bulk of the stolen funds appeared to be in [Altcoins](https://dexplain.com/tag/altcoins), as a result, many crypto projects decided to start freezing their tokens. [Ocean Protocol](https://dexplain.com/tag/ocean-protocol) seemed to take the most drastic action, implementing a hard fork to render all of the stolen OCEAN worthless. ## Why did Ocean Protocol hard fork? Roughly $8.6 million worth of [OCEAN tokens](https://dexplain.com/ocean-protocol-completes-token-swap/) were stolen from the KuCoin exchange. Meaning that 21 million OCEAN could be dumped on the market by the hacker. The team immediately used a pause function in the token’s smart contract code to stop any transfers. They then chose to issue [a hard fork](https://dexplain.com/vite-hard-fork-plans-for-zero-fees-stablecoin-trading/) and deploy a new token entirely. However, the swift actions seem to be creating a rift in the community with many asking why this function exists in the first place. **Not a decentralized marketplace…** If we break it down, the team has effectively showcased that Ocean Protocol can be paused at any time. It is worrying that a project described as a decentralized data marketplace has shown they may censor their protocol at any time. - Not only Ocean has taken this path of freezing tokens. Orion, Covesting, SilentNotary, Velo Labs, and Kardia Chain all made similar moves to stop the hacker from dumping stolen funds. **So what is the token for…** Ocean Protocol may have to be ready to answer some hard questions during the next community AMA. Because, it appears pausing the token and then issuing a hard fork, strangely, did not disturb the [data marketplace](https://dexplain.com/what-is-singularitynet-agi-token-review/). Which begs questions around what the data marketplace runs on and how it interacts with the token. ### BitGo will bring Wrapped BTC and ETH to Tron DeFi URL: https://dexplain.com/bitgo-will-bring-wrapped-btc-and-eth-to-tron-defi/ Last updated: 2021-12-01T14:58:13.000Z An alliance between Tron and leading crypto services provider [BitGo](https://www.bitgo.com/?ref=dexplain.com) will bring [Wrapped Bitcoin](https://dexplain.com/tag/bitcoin) (WBTC) to Tron’s [decentralized finance](https://dexplain.com/tag/defi) (DeFi) products. Additionally, BitGo will mint a new token, Wrapped Ether, that will live on Tron as a TRC20 token backed 1 to 1 by Ethereum. This is a move that could propel the Tron blockchain forward as a preferred platform for future innovative DeFi products. ## What is the big deal? WBTC is widely used with over $820 million worth of WBTC living on [Ethereum](https://dexplain.com/tag/ethereum). In fact, you could make a strong argument that the liquidity WBTC brought to DeFi products and decentralized exchanges is a driving reason for the sector’s rapid growth. **You May Also Like:** - [What is Pickle Finance? Bringing Stability to DeFi](https://dexplain.com/what-is-pickle-finance-bringing-stability-to-defi/) - [Cold Staking and Privacy Focused DeFi coming to Qtum](https://dexplain.com/cold-staking-and-privacy-focused-defi-coming-to-qtum/) - [Vite Hard Fork plans for Zero Fees Stablecoin trading](https://dexplain.com/vite-hard-fork-plans-for-zero-fees-stablecoin-trading/) Demand for WBTC continues to grow as the market’s craze for DeFi protocols continues. But, a major concern, is the high transaction fees users now have to pay on Ethereum. ### Tron DeFi could see explosive growth **DeFi on Tron is cheap…** Wrapped versions of BTC and ETH living on Tron lets users enjoy all the benefits of DeFi such as [yield farming](https://dexplain.com/tag/yield-farming) and [liquidity mining](https://dexplain.com/start-balancer-liquidity-mining-to-earn-bal-tokens/) without the negatives. The negatives being the extremely [high cost of gas fees](https://dexplain.com/furucombo-lets-you-save-gas-for-your-defi-strategies/) eating up returns. - Trading volume on JustSwap, Tron’s version of Uniswap, is rising rapidly and now regularly achieves $100 million over 24 hour periods. Wrapped BTC and ETH will only keep the numbers rising! **Potential for a boom…** Now that Tron will have access to [cross-chain liquidity](https://dexplain.com/what-is-darwinia-network-cross-chain-transfers-made-easy/) from Bitcoin and Ethereum holders, which can easily be integrated into DeFi products. There will be whole new use cases for Tron’s DeFi ecosystem, potentially, even the next big crypto trend or farming trend. Though we will have to call it the DeFi winter craze, so developers, please use the appropriate vegetables. ### SuperRare has earned artists over $2M since launch URL: https://dexplain.com/superrare-has-earned-artists-over-2m-since-launch/ Last updated: 2021-12-01T14:55:44.000Z SuperRare, a [crypto-collectibles](https://dexplain.com/tag/collectibles) marketplace for digital art, has now earned artists over $2M since launch. It is a significant milestone when you account that $1M was earned in the last 2 months alone. A sign that collectors are growing increasingly interested in having [crypto art](https://dexplain.com/tag/crypto-art) in their portfolio. It also cements the digital art blockchain movement, of being something much bigger than just some cartoon kitties or tokenized card game. > 💎It’s Official💎 > > Less than 4 months ago we passed the historic $1M earned by artists mark on SuperRare (June 3). > > Today we just blew past $2M earned by artists & $675K earned by collectors. > > 💎Congrats to ALL💎[#DontSleepOnCryptoArt](https://twitter.com/hashtag/DontSleepOnCryptoArt?src=hash&ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) [pic.twitter.com/oAx20wLKF8](https://t.co/oAx20wLKF8?ref=dexplain.com) > > — SuperRare 💎 (@SuperRare) [September 23, 2020](https://twitter.com/SuperRare/status/1308857373432451072?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) ## What is SuperRare? SuperRare is a platform where art creators can interact with collectors, backed by [blockchain](https://dexplain.com/tag/blockchain). Creators can create digital artwork and mint them as tokens on the Ethereum blockchain. Collectors can buy and sell artworks securely, and [smart contracts](https://hackernoon.com/everything-you-need-to-know-about-smart-contracts-a-beginners-guide-c13cc138378a?ref=dexplain.com) ensure royalties always go back to the creator. The idea is to create [a decentralized marketplace](https://dexplain.com/what-is-opensea-crypto-collectibles-marketplace/) where creators and collectors can easily connect around their shared passion. > Another secondary market sale on [@SuperRare\_co](https://twitter.com/superrare%5Fco?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) 💎 for my piece "Holographic data storage" It just sold for double what [@timrix](https://twitter.com/timrix?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) bought it for!!! 0.2Ξ In royalties WOO!!! > > I guess people got the memo that I'll only be minting 1 Piece a week for awhile 😉[https://t.co/fg49utcoIL](https://t.co/fg49utcoIL?ref=dexplain.com) [pic.twitter.com/GWoQkbdHjb](https://t.co/GWoQkbdHjb?ref=dexplain.com) > > — Totemical (@Totemical) [September 24, 2020](https://twitter.com/Totemical/status/1309280465879216130?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) **What’s so special about it…** people are willing to pay big money for collectibles, meaning in the world of digital art you find fraud, forgery, and general scams. SuperRare provides an easy way to mitigate all these risks. Minting digital art into [non-fungible tokens (NFTs)](https://dexplain.com/tag/non-fungible-tokens) allows an art piece’s history to be tracked. - SuperRare has seen over 8,800 artworks move through its platform, earned collectors over $675k, and served 178 different countries since launch in 2017. **Artists on an invite basis…** unlike [OpenSea](https://dexplain.com/tag/opensea) or [Rarible](https://dexplain.com/what-is-rarible-solving-the-pains-of-digital-art-with-nfts/), SuperRare does not let anyone start selling digital artwork on the platform as they do not want to saturate the marketplace. Artists have to apply to join, as a result, SuperRare is building the reputation of being the Crypto Art platform where you find the “rarest” collectibles. ### Meridian Network announces Prediction Market dApp URL: https://dexplain.com/meridian-network-announces-prediction-market-dapp/ Last updated: 2021-12-01T14:51:27.000Z Meridian Network is a platform that enables access to a whole suite of [DeFi products](https://dexplain.com/tag/defi). It aims for development driven by the community, in the form of a DAO. As a result, Merdian’s vision is to start a new wave of DeFi innovation by following what its users want. Recently, the community voted through a proposal to develop a new prediction market dApp on [Ethereum](https://dexplain.com/tag/ethereum) called PreSaga. ## Prediction Market dApp called PreSaga PreSaga is a new blockchain prediction market for betting. The dApp will enable users to place bets on anything with an outcome, such as financial markets, sports, esports, or world events. PreSaga will use the platform’s native LOCK token to place bets. **You May Also Like:** - [7 Reasons Swipe (SXP) DeFi plans with Binance Chain will rocket](https://dexplain.com/sxp-price-predictions-7-reasons-swipe-defi-plans-will-rocket/) - [Yfv Finance launches Value Vaults](https://dexplain.com/yfv-finance-launches-value-vaults/) - [Cream Finance burns 67.5% of CREAM total supply](https://dexplain.com/cream-finance-burns-67-5-of-cream-total-supply/) Furthermore, PreSaga will integrate [TrustSwap](https://trustswap.org/?ref=dexplain.com) as a service provider for trustless escrow. Additionally, Chainlink oracles will ensure determine outcomes remains decentralized. > Honestly prediction markets may be the one of the most underrated categories of ethereum dapps right now. Omen and Augur v2 are both running and have active markets with pretty decent liquidity; go ahead and try them![https://t.co/BKp28ujJyG](https://t.co/BKp28ujJyG?ref=dexplain.com)[https://t.co/DGaNisQQhR](https://t.co/DGaNisQQhR?ref=dexplain.com) > > — vitalik.eth (@VitalikButerin) [September 24, 2020](https://twitter.com/VitalikButerin/status/1309078385369460741?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) **Prediction markets the next trend…** PreSaga will face competition in the form of Omen and Augur, though as per [Vitalik](https://twitter.com/VitalikButerin?ref=dexplain.com), this DeFi sector may just be starting to gain interest. Meaning there is a big room for growth, potentially prediction markets may be the next big market trend. - Meridian is also in talks with Ferrum Network, to launch staking and [liquidity programs](https://dexplain.com/start-balancer-liquidity-mining-to-earn-bal-tokens/) for LOCK token. Token holders will be able to stake LOCK via Ferrum to earn additional LOCK in rewards. **Not your average clone DeFi protocol…** Meridian has a strategic partnership with [Hacken](https://hacken.io/?ref=dexplain.com), a cybersecurity firm. As a result, any dApp releases will see security audits by Hacken. This should ease any concerns of Meridian simply being a copycat DeFi protocol. Watch LOCK closely! ### What is OpenSea? Crypto Collectibles Marketplace URL: https://dexplain.com/what-is-opensea-crypto-collectibles-marketplace/ Last updated: 2021-12-01T14:48:50.000Z As interest grows around the exploding digital art scene in the form of [crypto-collectibles](https://dexplain.com/tag/collectibles) and [non-fungible tokens](https://dexplain.com/tag/non-fungible-tokens), so has the requirement for a secure marketplace for exchanging all these unique assets. OpenSea is the first, and industry-leading decentralized exchange, for trading digital art on Ethereum. It seems certain now, with products such as [Aavegotchi](https://dexplain.com/tag/aavegotchi) or [Yearn Finance’s yInsure](https://dexplain.com/yearn-finance-vaults-explained/), that NFTs are going to take a bigger role when it comes to tokenization of assets and contracts in [DeFi](https://dexplain.com/tag/defi). A scenario that only means OpenSea is going to continue growing. ## What is OpenSea? At its core, OpenSea is an open-source [decentralized exchange](https://dexplain.com/tag/decentralized-exchange), where users can trade tokens. However, unlike [Uniswap](https://dexplain.com/uniswap-launches-uni-token-and-liquidity-mining/) or [Sushiswap](https://dexplain.com/tag/sushiswap), OpenSea is not for trading ERC20 tokens such as [YFV](https://dexplain.com/yfv-finance-plans-to-migrate-liquidity-from-balancer/) or [CREAM](https://dexplain.com/cream-finance-launches-on-binance-smart-chain/). OpenSea lets you trade non-fungible token standards such as ERC721 or ERC1155\. These are the token standards for crypto art and collectibles. Before its launch, collectors had no way to trade NFTs or collectibles apart from going to over-the-counter (OTC) deals. A situation which relies solely on trust, and hence brings a lot of risks. OpenSea enables users to immediately bid for items owned by another user. And once a seller accepts a bid, then the exchange happens securely in a decentralized manner. While other marketplaces to trade NFTs do exist, such as Rarible or SuperRare, OpenSea has been able to remain the number one marketplace by integrating other marketplaces into their platform. **In The Same Flavor:** - [What is Rarible? Solving the pains of digital art with NFTs](https://dexplain.com/what-is-rarible-solving-the-pains-of-digital-art-with-nfts/) - [What is Aavegotchi? Where NFTs meet DeFi](https://dexplain.com/what-is-aavegotchi-where-nfts-meet-defi/) As a result, OpenSea has become a kind of aggregator of nearly every crypto collectible marketplace in the industry. For example, you can use their statistic pages to get a good sense of what type of assets are trending on the collectibles markets. ## What is a non-fungible token? Non-fungible tokens are smart contracts that contain unique identifying information. Its this information record that makes them unique, ensuring that they can’t be replaced or copied by another token. As a result, no two NFTs are alike. For example, [Ethereum](https://dexplain.com/tag/ethereum) is a fungible token. You can send someone 1 ETH, and they could send you 1 ETH back. The value may change, but it is still **one** Ethereum. Furthermore, fungible tokens are divisible, meaning you could send any part of an Ethereum. Non-fungible tokens are not divisible. You may find it easier to think of them like baseball cards, you can’t send someone half of a baseball card. Just half of a baseball card would not be worth anything. [CryptoKitties](https://www.cryptokitties.co/?ref=dexplain.com) collectibles are usually known for making the crypto-collectibles standard famous. In the game, each [blockchain-based](https://dexplain.com/tag/blockchain) cat is unique. Therefore, if you send a CryptoKitty to your friend, it would be entirely different than the one they send in return. ### What is Aavegotchi? Where NFTs meet DeFi URL: https://dexplain.com/what-is-aavegotchi-where-nfts-meet-defi/ Last updated: 2021-12-01T14:45:23.000Z [Aavegotchi](https://aavegotchi.com/?ref=dexplain.com) aims to combine the exploding [DeFi](https://dexplain.com/tag/defi) movement with [non-fungible tokens (NFTs)](https://dexplain.com/tag/non-fungible-tokens). DeFi and NFTs are arguably the two fastest-growing sectors in cryptocurrency, definitely in the Ethereum ecosystem. Aavegotchi enables users to create rare collectibles that they mint by [staking](https://dexplain.com/ankr-announces-new-stkr-protocol-combines-defi-and-staking/) DeFi assets. As you may have guessed, these are DeFi assets deposited in the [Aave lending platform](https://dexplain.com/aave-protocol-overtakes-maker-with-over-1-5-billion-locked/). Here we will take a look at what is Aavegotchi, along with a GHST token review. ## What is Aavegotchi? Aavegotchi is the first project attempting to combine the potential of DeFi and NFTs in one product. Essentially, Aavegotchis are [crypto-collectibles](https://dexplain.com/tag/collectibles) living on the Ethereum blockchain as an ERC721 token. This is the type of non-fungible tokens you find in popular blockchain games such as CryptoKitties, Axie Infinity, or used to create digital art in [Rarible](https://dexplain.com/what-is-rarible-solving-the-pains-of-digital-art-with-nfts/). ## So it’s a new blockchain game? Aavegotchi’s will also have traits and wearables, such as their level, age, or equipped items (child NFTs), to increase their rarity. Traits and wearables are not fixed from creation, meaning over time, you can evolve your Aavegotchi. Thus, increasing its overall value by playing the game. So in that sense, Aavegotchi will be [a blockchain game](https://dexplain.com/enter-ethverse-where-minecraft-meets-ethereum/), however, it also has DeFi tokenomics built-in. **Understanding the value…** Aavegotchi’s have intrinsic value because users need aTokens to stake as collateral to mint them. Meaning if there is a 100 aDAI stake to create the Aavegotchi, then the intrinsic value would be 100 aDAI plus the accrued interest from Aave’s lending pool. - Given the platform combines DeFi lending and NFTs in one, we can theory-craft future use cases such as depositing your Aavegotchi as [collateral](https://dexplain.com/swipe-wallets-sneak-peek-of-venus-protocol/) for a loan. **Farm GHST tokens…** Users will also be able to earn rewards in GHST tokens by training their Aavegotchis within the game, much like [liquidity mining](https://dexplain.com/start-balancer-liquidity-mining-to-earn-bal-tokens/). GHST is the platform’s native token, primarily used for buying and selling different NFTs within the ecosystem. Furthermore, GHST intends to be a governance token for when the platform transitions to being AavegotchiDAO. ### Yfv Finance launches Value Vaults URL: https://dexplain.com/yfv-finance-launches-value-vaults/ Last updated: 2021-12-01T14:41:25.000Z [Yfv Finance](https://dexplain.com/tag/yfv-finance), a popular platform for automated yield farming, has released its much-anticipated [Value Vaults products](https://dexplain.com/yfv-finance-launches-value-and-governance-vault/). DeFi vaults are one of the most used products by yield farmers, popularized by [Andre Cronje](https://twitter.com/AndreCronjeTech?ref=dexplain.com) with [Yearn Finance](https://dexplain.com/yearn-finance-vaults-explained/). Every yield generating platform seems to be attempting to outplay the other, innovating their [DeFi strategies](https://dexplain.com/tag/defi). Consequently, each platform is at war trying to offer the best returns for their users. ## Yfv finance launches Value Vaults Value Vaults will automatically allocate capital towards the DeFi protocols offering the highest APY. This way users can deposit their funds and let Yfv do the rest. Such as, automatically claiming rewards and compounding them. Essentially, done by enabling users to deposit single crypto-assets into the Yfv platform. ![](https://dexplain.com/content/images/2021/12/yfv-finance-vaults-beta-mode.webp) Turning the Value Vault into one super investor. As a result, users [save massively on gas](https://dexplain.com/furucombo-lets-you-save-gas-for-your-defi-strategies/) fees and there are also no platform fees. Meaning all the profit your deposits generate, are coming back to you upon withdrawal. **Farming both SUSHI and UNI…** Yfv Finance, the team building [Value Liquidity](https://dexplain.com/yfv-finance-plans-to-migrate-liquidity-from-balancer/), states they have integrated the most advanced DeFi techniques into Value Vault’s [yield farming](https://dexplain.com/tag/yield-farming) strategies. One of the innovative approaches is that the product does not just follow one strategy with one controller. It is possible for the vault to split up its funds into different ratios. Each one following a different strategy, for example, users could farm both [SUSHI](https://dexplain.com/fresh-sushi-buyback-chef-nomi-returns-all-funds/) and [UNI](https://dexplain.com/uniswap-launches-uni-token-and-liquidity-mining/) tokens. - Important because other yield aggregators on the market may offer high APYs. But they cannot absorb high amounts of liquidity, hence they have a cap on deposits. As Value Vaults will follow multiple strategies, allocating capital into different DeFi protocols, they can theoretically remove any cap on deposits. **Positive reaction…** As a security precaution, the team has elected to release the different [DeFi products](https://dexplain.com/vaults-farms-gas-whaaaat/) gradually in a beta mode (with a $10M cap) until audits have been completed. This has not stopped excitement, with over [$6M of ETH being deposited](https://yfv.finance/value-vaults?ref=dexplain.com) into the first Value Vault within 24 hours. ### What is Rarible? Solving the pains of digital art with NFTs URL: https://dexplain.com/what-is-rarible-solving-the-pains-of-digital-art-with-nfts/ Last updated: 2021-12-01T14:39:22.000Z Rarible is a leading [non-fungible token (NFT)](https://dexplain.com/tag/non-fungible-tokens) exchange on Ethereum. Recently, the platform surpassed $5M in sales in one month, causing NFTs to catch the eye of many prominent crypto investors. Morgan Creek Digital co-founder [Anthony Pompliano](https://twitter.com/APompliano?ref=dexplain.com) stated in his newsletter. > *Similar to how Bitcoin is superior to gold in almost every way, digital art is superior to traditional art in almost every way also.* According to [Opensea’s NFT rankings](https://opensea.io/rankings?ref=dexplain.com), Rarible is at the top, with **an average volume of 2,000 ETH per 7 days**. Furthermore, it has over 5,500 NFT owners on the platform; meaning it appears to be the most active and used marketplace for trading digital art. A great time to explore what the Rarible platform offers, and how their ecosystem uses RARI token for [liquidity mining](https://dexplain.com/start-balancer-liquidity-mining-to-earn-bal-tokens/). ## What is Rarible? Rarible is a platform that enables the easy creation of digital artworks or [collectibles](https://dexplain.com/tag/collectibles) secured by [Blockchain](https://dexplain.com/tag/blockchain). Creators use the platform to turn their work into NFTs, a process known as minting, without needing to know any coding skills. NFTs can be unique creations (as in only one exists), or limited editions creations. Rarible also acts as a marketplace, making it very easy to buy or sell non-fungible tokens. Meaning that digital artists can build a reputation online, and monetize their artwork. Payment happens in Ethereum, or via several mainstream ERC20 tokens such as [Dai](https://dexplain.com/binance-lists-maker-mkr-and-dai-more-defi-tokens-enter-cefi/), ENJ or LINK. > Well, it's been a strange and beautiful party this week with [#UNI](https://twitter.com/hashtag/UNI?src=hash&ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) But you can't have an $Uniswag party without some [#RARI](https://twitter.com/hashtag/RARI?src=hash&ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) Raritos! Comes with the FullRes logo to make your own! > Pick yours! [https://t.co/Y0r0ERiD01](https://t.co/Y0r0ERiD01?ref=dexplain.com)[#uniswag](https://twitter.com/hashtag/uniswag?src=hash&ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) [#rari](https://twitter.com/hashtag/rari?src=hash&ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) [#rarible](https://twitter.com/hashtag/rarible?src=hash&ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) [#doritos](https://twitter.com/hashtag/doritos?src=hash&ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) [#raritos](https://twitter.com/hashtag/raritos?src=hash&ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) [#littleweirdthings](https://twitter.com/hashtag/littleweirdthings?src=hash&ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) [pic.twitter.com/OLarlCHEou](https://t.co/OLarlCHEou?ref=dexplain.com) > > — GERYCO (@Gerardo\_Cotera) [September 18, 2020](https://twitter.com/Gerardo%5FCotera/status/1307078615956324355?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) Currently, we find a lot of digital art NFTs follow a cryptocurrency theme or illustrate a trending project of the week. ## What problem is Rarible solving? Globally artists are struggling when it comes to monetizing their creations. When sharing their vision and art, it comes at the risk of being stolen or forged. This is especially true for digital artists where images are on display via website. Minting an NFT via Rarible, ensures that you can always prove you’re the creator because the blockchain provides an immutable record. ![](https://dexplain.com/content/images/2021/12/history-rarible.webp) Furthermore, artists that do reach global recognition have to deal with galleries and arthouses taking a big percentage of any sales. **In The Same Flavour:** - [What is SingularityNET? AGI Token Review](https://dexplain.com/what-is-singularitynet-agi-token-review/) - [Q&A with Dock: Discussing use cases for Verifiable Credentials](https://dexplain.com/qa-with-dock-discussing-use-cases-for-verifiable-credentials/) - [SushiSwap Update: Exit Scam? Takeover?](https://dexplain.com/sushiswap-update-exit-scam-takeover/) Not to mention if you are entitled to any resale percentage, you have to keep track of that and manually keep tabs on your art piece. Whereas on Rarible, **10% of future sales always** go back to the creator. ## What is a RARI token? RARI is a governance token, which provides voting power to its holders. Rarible aims to be a truly decentralized platform driven by its users. RARI enables active creators and collectors on the platform to vote on platform upgrades, along with curating and moderating art on the marketplace. ![](https://dexplain.com/content/images/2021/12/RARI-mining.webp) RARI also acts as an incentive for using the platform, through airdrops via [Marketplace Liquidity Mining](https://dexplain.com/bancor-v2-launches-with-new-dynamic-liquidity-pools/). A process which resembles how many DEXs and [DeFi protocols](https://dexplain.com/tag/defi) provide rewards for providing liquidity. Ultimately, the roadmap plans to transition to Rarible DAO where RARI token holders make all the decisions. ### Q&A with Dock: Discussing use cases for Verifiable Credentials URL: https://dexplain.com/q-a-with-dock-discussing-use-cases-for-verifiable-credentials/ Last updated: 2021-12-01T14:36:15.000Z [Dock](https://dexplain.com/tag/dock) provides a range of tools that enables companies and developers to issue [verifiable credentials](https://dexplain.com/all-eyes-on-docks-poa-mainnet-launch/), secured by blockchain technology. dExplain was able to catch up with [Team Dock](https://www.dock.io/about?ref=dexplain.com), ahead of their mainnet launch, for a Q&A interview with [CEO Nick Lambert](https://twitter.com/N1ckLambert?ref=dexplain.com) and [COO Elina Cadouri](https://twitter.com/elinacadouri?ref=dexplain.com) to discuss the project’s early vision, growing use cases for verifiable credentials, future marketing plans, and more. Enjoy reading! ## Editor’s Questions **Tell us your story, how it all began in 2017? How the team was formed and how you came up with the original vision?** Prior to starting Dock, our founding team was working on Remote.com, a job marketplace for remote work, and we’re experiencing firsthand the challenges that come with lack of having complete and accurate user data to provide valuable job matching services. We were up against major internet behemoths who profit by siloing and controlling user data, thus hindering individuals from sharing their own data and innovators from creating new applications. We always focused on building for the future of work and were naturally drawn to blockchain and the potential it had to impact our industry. We designed a blockchain-based solution for sharing verifiable professional data across various platforms and applications that would enable an open internet based on collaboration. What started as an internal side project to decentralize data sharing, was spun-off into its own entity, and Dock was born. **Has your initial vision changed in 3 years? If we recall correctly, the original use-case focused on job hunting and simplifying the hiring process. Whereas, your updated website presents use cases for Healthcare and Supply Chain.** Our initial vision has evolved from focusing on career data to enabling any type of digital record to be issued as a verifiable credential, including professional accreditations, academic degrees, workforce credentials, licenses, and many more. As the project matured, we realized our technology could be applied to many use cases in addition to the workforce, and when speaking with issuers found a much wider need for verifiable credentials across several industries. For example, license verification for healthcare workers is extremely manual and time-consuming. Verifiable credentials allow medical works to have their credentials instantly verified by hospitals, medical clinics, and insurance companies. Another great example is supply chain, which depends on goods transferring across manufacturers, exporters, shipping companies, etc., and are overseen by government agencies. Verifiable credentials enable participants to authenticate and provide proof of their authority in transferring the goods, ensuring compliance, and providing verified data along every step of the supply chain. **When you cover different use-cases, does it mean you have established partners in Healthcare, Supply Chain, and Workforce sectors?** We already have a partner in healthcare and are in discussions with organizations in other sectors and we hope to be in a position to make additional partnership announcements in the not too distant future. Since our inception, we’ve spoken with many established players across these industries who are working on solutions to incorporate digital credentialing via blockchain. We believe it’s only a matter of time for technology to catch-up and we’ll see wide adoption in various use cases. **Who is your main target audience, existing real-world businesses, or new startups?** We are discussing PoCs with both large companies and startups, as there are benefits to working with both. Established companies allow us to reach a larger audience to gain adoption and address existing challenges with how data is shared and verified today, whereas startups are driving innovation forward and can move much faster with creating solutions built on Dock. Regardless of size or industry, the problem Dock fundamentally solves is the ability to create, present, and verify data that can be trusted without the need for manual verification. **Who is your main competitor if any? From both, crypto world and off-chain businesses?** Our competitors include companies that verify data on behalf of their clients. We certainly have a technical edge over those that verify manually, although of course companies in that position are looking to improve their technical capability to maintain their competitiveness. In some cases, they will build these solutions themselves while others will seek to partner with companies like Dock who have the infrastructure already in place. So interestingly companies that may at first glance seem to be customers can in fact become partners. **In the crypto world, a mainnet launch is seen as such a big event that excites communities. However, we find in many cases the project’s follow up is lacking. In our opinion, it happens when teams become so focused on developing it creates a clear disconnect with any future business vision. As in some teams literally don’t know what to do after it’s launched, how to get their product launched, and scale sustainably. What are your thoughts on this statement?** Yes, I think this can be accurate in some cases and it is not just a problem that can be attributed to the crypto/blockchain. In our view, this issue can occur for many reasons. It could be that the project only contains technical team members who are lacking in business development experience who don’t understand the importance of engaging early on with potential users. They end up building a solution that they want rather than one that their customers need. They may also lack the marketing expertise to appreciate how and in which industries their offering can be used and are unable to sell the features and benefits in a way that is appealing to their target market. In short, building technology is hard, and growing a business at scale is harder still and requires an organization to have a wide and diverse skill set as possible to give it the greatest chance of success. **I believe it is correct to say Dock’s business and sales processes are blocked by technology right now? In other words, maybe you can confirm that Dock does have a clear follow-up plan for your mainnet launch.** Gaining adoption is the most important success metric for Dock, we know that even if we build the best technology in the world, if there’s no usage and no adoption then we will not be successful. We have built Dock with a focus on real-world usage by providing a developer-friendly SDK, documentation, and direct support for developers. We already have teams creating apps with the SDK and are in PoC discussions with a number of larger partners. We will be sharing an update to our roadmap soon and you will see that it is focused on developing additional features for issuers that are based on feedback we are receiving directly from partners. **How does a security audit look for you?** We are currently undergoing a security audit with [Quantstamp](https://quantstamp.com/?ref=dexplain.com) who are well-known experts in providing crypto security audits. They are reviewing Dock’s substrate node and SDK to identify any security vulnerabilities and concerns. Once completed, we will publish the final report. **Governance – can you provide some simple scenarios about what exactly holders will vote for?** Governance is and will be increasingly used to manage many aspects of the network. We have outlined a framework that incorporates both off-chain and on-chain activities where the Dock Association (a Swiss non-profit organization set up specifically to look after the interests of the network) in conjunction with token holders and validators will; manage the ongoing technical development of the network, oversee adoption, add or remove network functionality, change network incentives and manage the treasury. Readers who are interested can find a more detailed breakdown about [governance on our website](https://docs.dock.io/learn/governance?ref=dexplain.com). **What is “Anchoring” in your roadmap and wouldn’t you prefer “Sailing”?** Anchoring enables users to store a digest of the credential on-chain which creates an immutable timestamp of the credential. This is an important feature for issuers who need to provide proof of having a valid credential at a certain point in time. Maybe we will have a future feature called “sailing” **Could you tell us more about upcoming marketing initiatives?** The focus post main net launch will be on migrating Dock’s token onto our mainnet. At the moment Dock is an ERC20 token but we’re moving quickly to migrate across a new native token (on a 1:1 basis) to our mainnet during Q4 this year to increase the tokens utility and to ensure everyone using the network starts to benefit from the incentives that a native Dock token provides. In tandem, we will also focus on network adoption, build tools and develop guides to enhance the user experience for new issuers while also increasing our network of partners to commence with several PoC and pilot projects. ## Community Questions **Questions from our community were mainly around speculation of DOCK’s price. Is this something that pressures the development team, or do you have more of a “*we are currently building, the price will follow*” mindset?** We’re very much of the opinion that if we build something that is innovative and useful we will create value for our users and the wider market. On the whole, we put greater importance in roadmap delivery, which has been our biggest focus through 2020. **There were a couple of questions about price suppression. In our experience, this tends to happen when projects are low on funds as they market dump development funds. Maybe you would like to clarify your current funding levels e.g. are your operations covered for the foreseeable future?** We have sold very few of our tokens so the comments about price suppression are unfounded. As an organization that wants to ensure long term success, it makes no sense that we would attempt to negatively impact that in any way. As a result of long term prudence, we have an excellent runway for a young company, so operational and marketing spend is certainly not an immediate focus for us. **There is also excitement around Dock’s links to the Polkadot ecosystem. Are you collaborating with any teams developing in the wider DOT ecosystem?** None at the moment other than the Web 3 Foundation who have been extremely helpful and supportive on our journey so far. **Great! Well that wraps up our interview with Dock, thank you for your time. We are sure you are very busy with your [mainnet launch](https://dexplain.com/six-crypto-mainnet-launches-and-hard-forks-to-watch/), so will not keep you any longer. Good luck!** ### iExec selected by the European Commission to build Next-Generation Internet URL: https://dexplain.com/iexec-selected-by-the-european-commission-to-build-next-generation-internet/ Last updated: 2021-12-01T14:33:48.000Z The European Commission unveiled a new project this week called [OntoChain](https://www.ngi.eu/ngi-projects/ontochain/?ref=dexplain.com), with iExec as a key [blockchain](https://dexplain.com/tag/blockchain) partner. This is part of the European movement to build the Next Generation Internet (NGI), which has already secured €6million in funding. Excitingly, iExec is one of the core 7 partners, who will primarily assist with blockchain development and [confidential](https://dexplain.com/cold-staking-and-privacy-focused-defi-coming-to-qtum/) computing. ## What is OntoChain? OntoChain is part of the European initiative to re-shape the internet, called NGI (Next Generation Internet. The aim is to transition the Internet into a more human-centric network, one that will truly value privacy, collaboration, and diversity. ![](https://dexplain.com/content/images/2021/12/ontochain-NGI.webp) Much like how Web3 is [decentralizing finance](https://dexplain.com/cardano-building-defi-stablecoin-on-ergo/) through the numerous [DeFi platforms](https://dexplain.com/tag/defi), the new initiative wants to decentralize web services. **The web is centralized…** with NGI, the EU is recognizing the dangers of having so much [data and information](https://dexplain.com/all-eyes-on-docks-poa-mainnet-launch/) in a few widely used services. Namely, that providers can present biased information to EU citizens for their own financial gains. - iExec is the only team in this initiative with expert blockchain experience. As a result, we could see iExec technologies reaching new international levels as teams collaborate to build with the framework. **Adoption for iExec…** this is a major milestone for iExec’s decentralized cloud computing solutions. Given that core values are similar in both projects, OntoChain will enable iExec to enter new domains and markets. In fact, applicants building with the OntoChain framework will be building on top of existing software solutions provided by iExec. As a result, this is great news for all RLC holders. ### What is Darwinia Network? Cross-chain transfers made easy URL: https://dexplain.com/what-is-darwinia-network-cross-chain-transfers-made-easy/ Last updated: 2021-12-01T14:31:14.000Z Darwinia Network enables the connection of different [blockchain](https://dexplain.com/tag/blockchain) via its cross chain technology. As a result, many call it the bridge blockchain given that it also connects to the [Polkadot Network](https://dexplain.com/cross-chain-defi-about-to-explode-polkadot-to-ethereum-bridge/) as a para-chain. Darwinia aims to solve the lone wolf concept that has been plaguing several [DeFi platforms](https://dexplain.com/tag/defi). Initially, the concept of smart contracts and blockchains were to make them do all the operations themselves. This seemed to be the most secure choice, but developers quickly realized that by having no significant communication with other chains then you are limiting potential. If blockchains could easily work together, then overally the [crypto](https://dexplain.com/tag/cryptocurrency) ecosystem offers more value while becoming stronger. Many teams are working on cross chain interoperability solutions, here we will look at one of Polkadot’s offerings: Darwinia. In this article we will review Darwinia Network cross chain solution, staking [tokenomics](https://blockgeeks.com/guides/what-is-tokenomics/?ref=dexplain.com), ID system. And also the RING and KTON tokens. ## What is Darwinia Network? Darwinia Network is powered by a Proof of Stake (PoS) algorithm, which like Polkadot or [Dock](https://dexplain.com/all-eyes-on-docks-poa-mainnet-launch/) is built using the Substrate network. The goal is to enable the cross chain transfer of any crypto assets such as tokens or collectibles. Darwinia also looks to power decentralized exchanges for trades and swaps across different blockchains. The platform will exist as a para-chain of Polkadot, but if needed, it can operate in solo mode. ![](https://dexplain.com/content/images/2021/12/darwinia.webp) For the moment, the major applications built on Darwinia focus on the gaming and DeFi space of cryptocurrency. Darwinia features an Appchain SDK which allows developers to build dApps without the need to know smart contract languages. As a result, onboarding and adoption for teams to start building on the mainnet will be fairly easy. ## RING RING is the native utility token found on the network, used for all operations. The token’s primary use is to pay for transactions when sending assets, or interacting with dApps on the network. ![](https://dexplain.com/content/images/2021/12/RING-TOKEN-LOGO.webp) Developers will also need RING to deploy new contracts or use storage for their applications. RING follows an inflationary model, where new tokens are minted via a staking mechanism. ## KTON KTON is an incentive for holders to stake RING tokens. When you stake RING for a period of 3 to 36 months, then KTONs generate passively as rewards. You can draw similarities with KTON and liquidity minint programs on DeFi platforms. However, here KTON is more a compensation for the liquidity loss (locking up your RING). Each staker receives KTON in proportion to the amount of RING staked. There is also a bonus for duration, the longer you hodl, the more KTON you will receive. ![](https://dexplain.com/content/images/2021/12/KTON-token.webp) KTON can only be minted when RING is locked, meaning that the initial supply is zero. For the moment, details around KTON’s use cases have not been released. We expect it to be a requirement for registering Dapps or other projects as an official application on the Darwinia Network. ## How does staking in Darwinia work? Both RING and KTON tokens can be staked to earn rewards and benefits. However, to earn KTON tokens, users have to agree to a minimum lock up period of 3 months. You can choose a longer period to earn more rewards. During the locking period, users cannot withdraw their RING tokens. ![](https://dexplain.com/content/images/2021/12/darwinia-staking.webp) Unless you are happy to pay a hefty penalty fee, which is three times your potential KTON earnings, then you can unlock your RING tokens early. Once you have earned KTON rewards, it is possible to stake these tokens to earn additional staking power. Darwinia mainnet launch is scheduled to happen between September 25th and October 15th. Once the mainnet is live, we will have more details on expected returns and rewards for RING stakers. ## Darwinia ID As a network aiming to facilitate cross chain trading, Darwinia needs a way to identify the same assets on multiple [blockchains](https://dexplain.com/tag/blockchain). Enter Darwinia ID, which aims to tag and develop a standardized database for different crypto assets. Technically called Interstellar Product Coding Standard, it works by giving a single identifier code to assets on multiple blockchains. This ensures users can easily make cross chain transfers without a major loss of value when executing the trade. ## What is Darwinia Network in the future? Darwinia will likely start a new era of cross chain asset transfers when the mainnet goes live by the end of Q3 2020\. There are hundreds of use cases for [the migration of DeFi assets and NFTs (collectibles) across multiple blockchains](https://dexplain.com/what-is-kava-a-cross-chain-defi-platform/), and teams will be eager to leverage Darwinia’s technology. Furthermore, Darwinia is part of the Polkadot ecosystem, which continues to gain more traction as [Ethereum transaction fees](https://dexplain.com/loopring-the-solution-to-high-ethereum-gas-fees/) rise beyond sustainable levels. Watch the mainnet launch closely! ### Cream Finance burns 67.5% of CREAM total supply URL: https://dexplain.com/cream-finance-burns-67-5-of-cream-total-supply/ Last updated: 2021-12-01T14:26:34.000Z [Cream Finance](https://dexplain.com/tag/cream-finance) completed a massive token burn, causing the price of CREAM to soar by 130% in the process. After looking at several options, the [DeFi](https://dexplain.com/tag/defi) lending and borrowing platform C.R.E.A.M. Finance announced its plans to burn 67% of all the CREAM tokens. This means that they have permanently melted 6 million CREAM tokens from their total supply. > 🔥🔥🔥🍦🍦🍦🍦🍦🍦🍦🍦🔥🔥🔥 > It is done. 6,075,000 [$CREAM](https://twitter.com/search?q=%24CREAM&src=ctag&ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) burned. 2,925,000 remain. > 🔥🔥🔥🍦🍦🍦🍦🍦🍦🍦🍦🔥🔥🔥[https://t.co/EeVNlHfuxe](https://t.co/EeVNlHfuxe?ref=dexplain.com) [https://t.co/4tRA3KnrZV](https://t.co/4tRA3KnrZV?ref=dexplain.com) [pic.twitter.com/iSRCXJfZFx](https://t.co/iSRCXJfZFx?ref=dexplain.com) > > — Cream Finance 🍦 (@CreamdotFinance) [September 20, 2020](https://twitter.com/CreamdotFinance/status/1307684510784303105?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) ## The Great CREAM Melt The team explained in an [official blog post](https://medium.com/cream-finance/67-5-6m-cream-token-burn-tomorrow-15d00fa28fee?ref=dexplain.com), that everyone agreed a token burn was necessary for the future growth of the project. As a result, the discussion was about which token allocation to burn. > *This burn will include 100% of the “governance” tokens and 7.5% of the Seed tokens. We believe that this action will provide greater certainty to the current token holders while creating a stronger foundation for the long-term success of the project.* After speaking to their seed investors, [Cream Finance](https://dexplain.com/cream-finance-launches-on-binance-smart-chain/) decided to burn 100% of all governance tokens and 7.5% of all the Seed Tokens. ![](https://dexplain.com/content/images/2021/12/cream-distribution-photo.webp) In return for agreeing to the token burn, seed investors received an accelerated vesting period of 1 year in the form of monthly vesting. **The Same Flavour:** - [Ocean Protocol Completes Token Swap](https://dexplain.com/ocean-protocol-completes-token-swap/) - [7 Reasons Swipe (SXP) DeFi plans with Binance Chain will rocket](https://dexplain.com/sxp-price-predictions-7-reasons-swipe-defi-plans-will-rocket/) - [Furucombo let’s you save gas for your DeFi strategies](https://dexplain.com/furucombo-lets-you-save-gas-for-your-defi-strategies/) Note, that the development team also had this opportunity to accelerate their vesting but they all refused. Undoubtedly, investors will be happy to see long term belief in the project from the devs. ## Okay, what about the price? A token burn of this size has never been seen before. If there is a lack of confidence in the project’s fundamentals it could cause a huge loss of [market capitalization](https://dexplain.com/what-is-bitcoin-dominance/). Alternatively, the price of each token will increase to the point of the current market cap with the new total supply. ![](https://dexplain.com/content/images/2021/12/creamfinanceburnchart.webp) For CREAM it looks like the token burn has been taken very positively by traders, as prices immediately went up. Immediately after the news broke the token price spiked from $70 to $165, an increase of 134%. ### Kava launches Harvest for cross-chain Yield Farming URL: https://dexplain.com/kava-launches-harvest-for-cross-chain-yield-farming/ Last updated: 2021-12-01T14:23:56.000Z [Kava Labs](https://dexplain.com/tag/kava) has launched its first application, called Harvest, a cross-chain [yield farming](https://dexplain.com/tag/yield-farming) decentralized finance (DeFi) platform. Users will stake supported crypto assets so that they can be lent out to others, and earn interest. Furthermore, users that borrow or lend via Harvest will also earn rewards in HARD tokens. ## Kava launches Harvest Harvest is a platform that is very similar to [Aave](https://dexplain.com/aave-protocol-overtakes-maker-with-over-1-5-billion-locked/) or [MakerDAO](https://dexplain.com/binance-lists-maker-mkr-and-dai-more-defi-tokens-enter-cefi/), you can find inspiration from the DeFi craze on Ethereum. However, the key difference is it supports crypto assets not seen in [DeFi products](https://dexplain.com/tag/defi) before. On launch, users will be able to deposit BTC, BNB, BUSD, XRP, and USDX (Kava’s native stablecoin) – the first cross-chain yield farming platform. Harvest will also feature decentralized governance and liquidity providing incentives, powered by the HARD token. ![](https://dexplain.com/content/images/2021/12/supply-borrow-earn.webp) **Native interoperability and oracles…** Harvest is built on [Kava](https://dexplain.com/what-is-kava-a-cross-chain-defi-platform/), which follows Cosmos’ tendermint consensus algorithm – tech that focuses on interoperability between blockchains. As a result, Kava can leverage native existing bridges for cross-chain asset transfers. Chainlink oracles will allow Harvest access to decentralized price-reference data. - Kava is a little different from other open DeFi blockchains, as KAVA token holders decide by voting if a new application can launch. This way token holders get exposure to every new product launched on the ecosystem. As a result, KAVA stakers will continuously earn HARD tokens. **More products are coming…** CEO [Brian Kerr](https://twitter.com/Brianhkerr?ref=dexplain.com) confirmed next up will be automated market makers (AMMs) like [Uniswap](https://dexplain.com/uniswap-launches-uni-token-and-liquidity-mining/) and DeFi vault products such as [Yearn Finance](https://dexplain.com/yearn-finance-vaults-explained/). Kava Labs has several major exchanges such as [Binance](https://dexplain.com/tag/binance-exchange), Huobi, or OKEx in their corner. No doubt, they are all interested in providing accessible [DeFi/CeFi solutions](https://dexplain.com/what-is-bella-protocol-bel-is-making-defi-easy/) to their users. As Kava launches Harvest (not to be confused with [Harvest Finance](https://dexplain.com/what-is-harvest-finance-defi-with-farm-tokenomics/)!), we will surely find out more about future CEX integrations. Bullish! ### Swipe Wallet’s sneak peek of Venus Protocol URL: https://dexplain.com/swipe-wallets-sneak-peek-of-venus-protocol/ Last updated: 2021-11-30T14:34:25.000Z [Swipe Wallet](https://dexplain.com/tag/swipe-wallet/) has taken to twitter to show a sneak peek of their upcoming DeFi platform. Originally referred to as [SwipeFi](https://dexplain.com/sxp-price-predictions-7-reasons-swipe-defi-plans-will-rocket/), the team has now confirmed the product name as Venus Protocol. Venus Protocol will be a [DeFi lending platform](https://dexplain.com/what-is-venus-xvs-defi-platform-on-binance-smart-chain/), powered by Binance Smart Chain. Users will be able to deposit various crypto assets, to earn interest, or use as collateral for loans. A perfect addition to [Swipe’s crypto card](https://dexplain.com/swipe-crypto-debit-card-review/) product. ## What is Venus Protocol? ****Update:** The [DeFi protocol is now live](https://dexplain.com/venus-protocol-launches-to-mainnet-with-xvs-farming/)! We have published a full guide for borrowing and earning interest on Binance Smart Chain. Along with minting VAI stablecoins and how to farm Venus (XVS) tokens. [You can read through it here](https://dexplain.com/venus-protocol-defi-tutorial-how-to-supply-and-borrow-assets-mint-vai-stablecoin-and-farm-xvs-tokens/). While the team has stayed relatively silent on the details, a Reddit AMA will happen next week. From the screenshot, we expect Venus Protocol to be a DeFi dashboard for the Swipe’s ecosystem as a whole. Meaning it will probably enable users to manage [their SXP staking also](https://dexplain.com/swipe-network-launches-staking-with-12-apr/). Note there is also a ****Vote** section, which indicates a form of governance UI for voting on proposals. What we do know is that it will take [300,000 SXP to open a proposal](https://medium.com/swipe/swipe-bi-weekly-update-7-4e89bfde8200?source=collection%5Fhome---4------1-----------------------), though it will be possible to delegate and pool funds with others to open a proposal. ****Powered by Binance Smart Chain…** much like [Cream Finance’s](https://dexplain.com/cream-finance-launches-on-binance-smart-chain/) recent move to BSC, Swipe will utilize the native cross-chain interoperability for their DeFi lending platform. Meaning from launch we can expect support for popular crypto-assets such as BNB, ETH, USDT, BTC, or USDC. And of course, Binance’s stablecoin BUSD will be in the mix. - It will be interesting to find out which stablecoin users will ****mint** from locking up collateral, though, it seems certain it will be BUSD. ****But will the APY be attractive…** it remains to be seen if APY will be higher than protocols such as [Curve](https://dexplain.com/what-is-curve-finance-and-crv/)****,** however, [yield farmers](https://dexplain.com/tag/yield-farming) might find moving off [Ethereum](https://dexplain.com/tag/ethereum) to cut away high transaction fees very attractive. Swipe’s tweet also mentions an ****SXP 3x Yield Mining Amplifier** – which maybe some sort of incentive for early adopters and SXP holders. ### Uniswap launches UNI token and Liquidity Mining URL: https://dexplain.com/uniswap-launches-uni-token-and-liquidity-mining/ Last updated: 2021-12-01T14:15:08.000Z Uniswap dropped the surprise of launching its native governance token: UNI. The leading DeFi [decentralized exchange](https://dexplain.com/tag/decentralized-exchange), which averages over $350M in daily volume, decided to airdrop 15% of the 1 billion UNI tokens. The airdrop went to anyone who had ever used the protocol since its launch. According to Etherscan, after the airdrop, UNI is in over 50k wallet addresses. As a result, it instantly becomes one of the most decentralized tokens in DeFi. In fact, only [LEND](https://dexplain.com/aave-protocol-overtakes-maker-with-over-1-5-billion-locked/) and [Dai](https://dexplain.com/tag/makerdao/) have a higher amount of holders. Since its inception, Uniswap has become one of the building blocks of the DeFi movement. Meaning most protocols interact with Uniswap in some form, and it is easily one of the first DEXs that newcomers use to swap tokens. Each trader who used Uniswap V1 or V2 will have 400 UNI ready to be claimed, in a move that many are comparing to [DeFi stimulus check](https://dexplain.com/tag/DeFi) or to a universal basic income. Others have stated the UNI token launch is in response to [SushiSwap](https://dexplain.com/tag/SushiSwap) and other [vampire attacks](https://dexplain.com/vampire-bite-sushiswap-leaves-uniswap-behind/) to steal liquidity. ## Uniswap (UNI) token Distribution At genesis 1 billion UNI tokens were minted, 60% will go to existing Uniswap community members. And 40% will be distributed to team members, investors and advisors, over a vested period of four years. Part of the community distribution has been done via the airdrop to historical liquidity providers and users. The rest will happen via [new liquidity mining programs](https://dexplain.com/start-balancer-liquidity-mining-to-earn-bal-tokens/). This means liquidity providers of the following pools will earn UNI tokens: - ETH/USDT - ETH/USDC - ETH/DAI - ETH/WBTC In the future, it is likely that UNI token holders will be able to vote and decide which pools reward liquidity providers with UNI tokens. ## How to claim UNI tokens? It is very likely you have 400 UNI waiting for you, if you’re a regular Uniswap user. Here are the steps to claim your tokens: ![](https://dexplain.com/content/images/2021/12/UNI-TOKENS-TO-CLAIM.webp) 1. Visit [https://app.uniswap.org/](https://app.uniswap.org/?ref=dexplain.com) 2. Next click the **Connect Wallet** button. 3. Click on **Claim your UNI Tokens**. 4. Confirm the transaction in your wallet, make sure you [check gas prices](https://etherscan.io/gastracker?ref=dexplain.com) before submitting. Congrats! You are now a UNI holder. ### Start Balancer Liquidity Mining to earn BAL tokens URL: https://dexplain.com/start-balancer-liquidity-mining-to-earn-bal-tokens/ Last updated: 2021-12-01T14:12:23.000Z Access to adequate liquidity is seen as a crucial element for the future growth of DeFi. Many decentralized exchanges and dApps require reliable sources of liquidity to function. Which is where Balancer comes in to play, and Automated Market Maker, where users can swap tokens and pool funds. There are now various different AMM such as [Mooniswap](https://dexplain.com/what-is-mooniswap-the-new-automated-market-maker-by-1inch/), [Bancor](https://dexplain.com/bancor-v2-launches-with-new-dynamic-liquidity-pools/), or [SushiSwap](https://dexplain.com/tag/sushiswap) – and they all have their own incentives for liquidity mining. With so many DeFi protocols in play, it is hard to choose where to start. Here we are going to look at Balancer liquidity mining and how you can earn BAL tokens. ## What is Balancer? Balancer pools should be seen as self-balancing index funds. What makes Balancer unique is that there is no forced 50/50 split between two tokens. Balancer’s pools can support up to 8 different tokens, and they can all have custom distributions. For example, one pool could be 80% ETH and 20% DAI whereas another could be 50% USDC, 5% LINK, 5% LEND, and 40% ETH. ![](https://dexplain.com/content/images/2021/12/balancer-one-two-three.webp) The part to remember is that anyone can create Balancer pools and add liquidity to the protocol. However, not every Balancer pool earns BAL tokens. So this is where you must choose wisely. ## Balancer Liquidity Mining Each week 145k BAL tokens are distributed to users with liquidity on the protocol, totaling 7.5M BAL per year. This is a reward you earn as a liquidity provider, on top of the *pool swap fee*. Whenever someone performs a swap that uses the pool, the paid fee is distributed equally amongst liquidity providers. To summarize, you can earn trading fees and earn BAL tokens. Now let’s learn how to participate in Balancer Liquidity mining to earn BAL rewards. **Before You Start:** - You have Ethereum available to pay for transaction fees, if not [buy some Eth quickly on Binance](https://dexplain.com/how-to-buy-ethereum-with-a-credit-card-on-binance/). - Confused about DeFi? Start [here](https://dexplain.com/tag/defi). - Never moved funds off an exchange? Maybe [Bella protocol](https://dexplain.com/what-is-bella-protocol-bel-is-making-defi-easy/) is for you. ### **Step 1: locate the pool** Depending on the assets in the pool and distribution ratios, different pools earn you more BAL tokens. You can use [Pools Vision website](http://pools.vision/?ref=dexplain.com) to easily choose which pool is right for you. You can sort by **Annual BAL** to figure out which pools earn the most BAL tokens. ![](https://dexplain.com/content/images/2021/12/DAI-pools.webp) We recommend selecting a pool that includes a [stablecoin](https://dexplain.com/cardano-building-defi-stablecoin-on-ergo/) peg such as DAI or USDC, because this will help you mitigate against impermanent loss. ### **Step 2: Add your funds** Once you have decided on the pool, you can click the [pool address button](https://pools.balancer.exchange/?ref=dexplain.com#/) on the left to automatically open up the correct pool dashboard on Balancer’s website. First **Connect Wallet** at the top right, and then click on **Add Liquidity**. ![](https://dexplain.com/content/images/2021/12/balancer-screenshot.webp) The great part about Balancer is, if needed, it lets you add liquidity as a single asset. So no need to buy every token before supplying liquidity, you just need at least one. Decide how much funds you want to supply and click **Add Liquidity** again to sign the transaction in your wallet. And you’re done! Congratulations, you should find you have a BPT token in your wallet. BAL rewards will start being sent to your wallet on a weekly basis. ### **Wait no staking?** That is correct! No need to stake any [liquidity tokens](https://dexplain.com/furucombo-lets-you-save-gas-for-your-defi-strategies/) anywhere on different dashboards to earn BAL tokens. Which is why [liquidity mining](https://dexplain.com/yfv-finance-plans-to-migrate-liquidity-from-balancer/) on Balancer is one of the easiest DeFi strategies to date. ### Furucombo let’s you save gas for your DeFi strategies URL: https://dexplain.com/furucombo-lets-you-save-gas-for-your-defi-strategies/ Last updated: 2021-12-01T14:03:27.000Z Furucombo is [an amazing tool](https://furucombo.app/combo?ref=dexplain.com) for DeFi enthusiasts as it allows you to easily bundle multiple protocol actions into one transaction. Just ask yourself, why click and confirm five [Ethereum](https://dexplain.com/tag/ethereum) transactions, when I could just confirm one? Not only will using Furucombo save you time, but it will also optimize your actions to save on gas fees. Such as setting up a DeFi strategy for farming [CRV](https://dexplain.com/what-is-curve-finance-and-crv/) tokens. Given Ethereum’s transaction fees are currently very high, any tool that can enable you to save: is a must-learn! Essentially, Furucombo allows you to build your custom DeFi strategies without knowing any lines of code. You can just drop and drag DeFi protocol actions using their UI. - **Note Furucombo is beta software, use at your own risk** ## What is Furucombo? Furucombo is a tool for optimizing your DeFi strategy with a simple drag and drop interface. Furucombo refers to different protocols as cubes, as a result, you are building your DeFi legos without knowing any solidity (Ethereum’s smart contract programming language). Once you have created your combo, the tool will package everything into one transaction. This is particularly great if you need to use several different protocols. For example, if you want to swap tokens via 1inch to add them as liquidity on [Mooniswap](https://dexplain.com/what-is-mooniswap-the-new-automated-market-maker-by-1inch/) or deposit in a [Yearn Finance](https://dexplain.com/yearn-finance-vaults-explained/) vault. You can easily visualize every required step with their UI, making the tool very beginner-friendly. More experienced users may find Furucombo the easiest way to leverage a flash loan from [Aave](https://dexplain.com/aave-protocol-overtakes-maker-with-over-1-5-billion-locked/), to take advantage of arbitrage opportunities between protocols. It also makes it very easy to participate in liquidity mining or yield farming incentives. Which we are going to look at below in the following step by step DeFi tutorial for farming CRV tokens. ## Example Combo **Earn stablecoin interest and farm CRV tokens**. Let’s imagine you currently have a bearish outlook on Ethereum, or simply know you won’t have time to monitor your [trading](https://dexplain.com/tag/crypto-trading) portfolio closely. In this scenario, you will probably want to move a percentage of your funds into a [stablecoin](https://dexplain.com/tag/stablecoin), to lower your exposure and risk. Now what we can do is put those funds to work, earn interest, by depositing them into Curve Finance. As a bonus, we will also start earning rewards in CRV tokens. ### Step 1: swap ETH to DAI First, we will need a stablecoin to supply, I have selected *Swap Token* using 1nch to set up a swap from ETH to [Maker’s DAI](https://dexplain.com/tag/maker). ![](https://dexplain.com/content/images/2021/12/step-1-swap-to-dai.webp) ### Step 2: supply DAI to Curve Next, we need to deposit our DAI into a Curve pool, note there are several different ones. I have selected to receive cCRV which is Compound’s pool because it currently offers the highest CRV distribution. ![](https://dexplain.com/content/images/2021/12/step-2-supply-the-dai.webp) ### Step 3: stake LP tokens We need to stake our Curve LP tokens because we want to receive rewards while also earning interest on our [DAI](https://dexplain.com/binance-lists-maker-mkr-and-dai-more-defi-tokens-enter-cefi/) tokens. ![](https://dexplain.com/content/images/2021/12/stake-your-cCRV-tokens.webp) ### Step 4: Sending it out Once you are happy with your combo, you will need to click **Approve** and then **Send**. Initially, Furucombo will run an estimation of your transaction. ![](https://dexplain.com/content/images/2021/12/last-steps.webp) If your transaction will fail, then you will be prompted to fix your combo. However, if everything looks smooth then you will be asked to sign the transaction in your wallet. - **Pro tip**: click the share icon to create a unique link for your combo, which you can save for future use. One thing to remember is Furucombo does not have every DeFi protocol integrated, such as [Akropolis](https://dexplain.com/what-is-akropolis-a-look-at-defi-apps-sparta-and-delphi/), which may offer higher returns. So it is good to check around! Congrats! You should have completed your first combo DeFi transaction on Ethereum. If you did get lost at any point in the tutorial, feel free to look at the [saved version](https://furucombo.app/combo/btgdclpal5ec72n4vp9g?ref=dexplain.com). Any requests for future tutorials? Let us know! ### Yfv Finance plans to migrate liquidity from Balancer URL: https://dexplain.com/yfv-finance-plans-to-migrate-liquidity-from-balancer/ Last updated: 2021-12-01T13:57:52.000Z Yfv Finance is a DeFi yield aggregator, much like how [Yearn Finance](https://dexplain.com/yearn-finance-vaults-explained/) or DFI Money works. The platform allows users to deposit assets to start yield farming, earning rewards in YFV tokens, without needing to worry about high gas costs eating up profits. Inspired by the success of [SushiSwap’s liquidity migration](https://dexplain.com/vampire-bite-sushiswap-leaves-uniswap-behind/). YFV has planned a similar roadmap with Balancer being the target of their vampire attack. The platform has grown extremely fast, with over $457M value locked up, aided by an on-chain referral program. Also, liquidity providers also earn vUSD and vETH tokens alongside their YFV rewards. These are experimental tokens with elastic supply models, which aim to automatically adjust their supply by rebasing to target 1 USD = 1 vUSD and 1 ETH = 1 vETH. ## YFV Migration to VALUE As Yfv Finance launched during the DeFi farming summer craze, a time full of scam forks, much of the community was very skeptical about the developer’s intentions. As a result, the team decided to burn the owner key and minter of YFV. This earned the trust of the community, and has helped the protocol become a success so far. But, it meant upgrades were impossible. YFV holders have voted in the [migration](https://dexplain.com/elronds-mainnet-token-swap-is-ready-erd-is-moving-to-egld/) to **Value Liquidity Token (VALUE)** as a solution. Which opens up the doors for limitless future growth, with their own native [liquidity pools](https://dexplain.com/bancor-v2-launches-with-new-dynamic-liquidity-pools/). **True on-chain voting…** a major plus compared to other new DeFi protocols with governance tokens, is YFV already has on-chain voting. Users [stake](https://dexplain.com/bzx-protocol-is-back-with-bzrx-yield-farming/) their tokens for voting power and shape the future of the protocol. There are no manually updating parameters, Yfv Finance enjoys full on chain governance. As a result, when a voted proposal decides a different distribution of tokens per liquidity pool, it happens! - Migrating to Value Liquid and removing Balancer from the equation will be a crucial milestone for the project. So far the team has shown they have the technical know-how, but now we are entering new territory. **Eyes on the vaults…** the team has stated their vault’s yield farming techniques are *best-in-class currently.* If this turns out to be true, with higher returns than Yearn or [DFI](https://dexplain.com/what-is-dfi-money-yfii-token-review/), then YFV/VALUE could see the same parabolic price surge as YFI or YFII. Watch their updates **closely**! ### Cream Finance Launches on Binance Smart Chain URL: https://dexplain.com/cream-finance-launches-on-binance-smart-chain/ Last updated: 2021-12-01T13:54:41.000Z Cream Finance is a DeFi protocol focused on providing peer to peer lending, along with an automated market maker for swapping tokens. The project launched as a fork of Compound Finance on [Ethereum](https://dexplain.com/tag/ethereum), focusing on supporting token assets that were not on its bigger counterpart. Cream is now live on Binance Smart Chain (BSC), taking advantage of the low transaction costs and links to higher liquidity through [Binance](https://dexplain.com/tag/binance-exchange). ## What is Cream Finance? [C.R.E.A.M. Finance](https://app.cream.finance/?ref=dexplain.com) stands for Crypto Rules Everything Around Me, as a lending platform it allows users to deposit crypto assets as collateral to borrow funds and earn interest on their deposits. The platform pays out rewards in their governance token CREAM, though the main attraction over [MakerDAO](https://dexplain.com/tag/makerdao), [Aave](https://dexplain.com/aave-protocol-overtakes-maker-with-over-1-5-billion-locked/), or Compound is that Cream supports deposits for other governance tokens such as BAL, [SUSHI](https://dexplain.com/tag/SushiSwap), [YFI](https://dexplain.com/yearn-finance-introduces-stablecredit-and-yfi-price-surges/), MTA, or yCRV. ![](https://dexplain.com/content/images/2021/12/cream-screenshot.webp) In roughly two months, the protocol has grown rapidly, locking up over $300M of value. Cream Swap, the platform’s native AMM which resembles a fork of Balancer with slightly fewer fees, features incentives where [liquidity providers](https://dexplain.com/what-is-hakka-finance-and-blackholeswap/) can also earn CREAM rewards. **Launching on Binance Smart Chain…** as an official DeFi partner of Binance Labs, Cream will enjoy growth from accessing the Binance ecosystem which features **over 400,000 accounts and fiat gateways across 170 countries**. Furthermore, with the interoperability of BSC, Cream can now support a wider range of coins such as XRP, BCH, BTC, and LTC. - Currently, [defipulse](https://defipulse.com/?ref=dexplain.com) ranks Cream Finance 10th overall and 4th in the lending category. **Looking to the future…** CREAM token surged in price up to a new all-time high of $289 last week, as news around Cream Swap and the Binance Smart Chain launch broke. The token price has since corrected, trading at $189, so it might be time to buy the dip? [Cross Chain DeFi](https://dexplain.com/cross-chain-defi-about-to-explode-polkadot-to-ethereum-bridge/) might be the next golden egg. ### Yearn Finance Introduces StableCredit and YFI Price Surges URL: https://dexplain.com/yearn-finance-introduces-stablecredit-and-yfi-price-surges/ Last updated: 2021-12-01T12:55:43.000Z Yearn Finance, [one of the DeFi giants](https://dexplain.com/yearn-finance-vaults-explained/), continues to innovate the space and release new products. Its latest product, called StableCredit, is a new protocol aimed at decentralized lending, stablecoins, and automated market makers. And YFI holders enjoyed a huge 60% pump from a [Coinbase Pro listing](https://blog.coinbase.com/yearn-finance-yfi-is-launching-on-coinbase-pro-af730b9c5ef0?ref=dexplain.com). ## StableCredit – how can I keep up? Yearn propelled itself to the fifth largest DeFi platform in a matter of weeks, in terms of total value locked up. It has left many crypto enthusiasts scratching their heads, by the time you understand [one product or clone](https://dexplain.com/what-is-dfi-money-yfii-token-review/), the team will have released two more. **Confused? Start here:** - [What is Akropolis? A look at DeFi apps Sparta and Delphi](https://dexplain.com/what-is-akropolis-a-look-at-defi-apps-sparta-and-delphi/) - [Yield Farmers Devour Sushiswap: $250 Million Locked](https://dexplain.com/yield-farmers-devour-sushiswap-250-million-locked/) StableCredit enables users to deposit any asset and create a tokenized credit in a fiat base such as USD, EUR, or JPY. It then goes into an automated market maker, letting you use the StableCredit USD to borrow any asset in the AMM. **Just another lending protocol…** while the design of this new protocol seems [quite complicated and confusing](https://twitter.com/ChrisBlec/status/1304058418957778945?ref=dexplain.com) (hopefully this will be cleared up before launch!). The key thing to note here is that this lending protocol has **no governance**, it is truly 100% decentralized. There are no token voters trying to extract rent from users, meaning it could become the most competitive platform yet. - Yearn’s native token YFI has already seen an all time high of $39,000 on August 31st. And some traders are [making thousands trading](https://dexplain.com/how-to-turn-200-into-250k-trading-buggy-defi-tokens/) the copycat clones of Yearn Finance. **Meanwhile YFI goes parabolic…** a Coinbase Pro listing has moved YFI token back into bullish territory. After a correction down to $27,000 on September 10th, the new listing caused the price to pump up to $35,000 **in the same day**. ### Fresh Sushi Buyback? Chef Nomi returns all funds URL: https://dexplain.com/fresh-sushi-buyback-chef-nomi-returns-all-funds/ Last updated: 2021-12-01T13:52:09.000Z Much to the surprise of everyone, [SushiSwap’s](https://dexplain.com/tag/SushiSwap) founder and former head chef, has returned all the funds to the community. After being accused of an exit scam, the anonymous developer, only known as [Chef Nomi](https://twitter.com/NomiChef/?ref=dexplain.com) has returned $14M back to the project’s development fund. As a result, the community is voting to immediately buyback SUSHI tokens from the market. ## Chef Nomi apologized over twitter In a Twitter thread posted on September 11th, Nomi admitted that he had made a massive mistake. While apologizing to the community as a whole, Nomi addressed several key industry leaders directly. He summarized that he had made bad greedy decisions under pressure. Additionally, he mentions that [DeFi is amazing](https://dexplain.com/raw-piece-of-defi-sushi/), and he did not mean to damage the movement. > To everyone. I fucked up. And I am sorry. > > — Chef Nomi #SushiSwap (@NomiChef) [September 11, 2020](https://twitter.com/NomiChef/status/1304442495342796800?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) In response to Nomi’s actions, [FTX](https://dexplain.com/ftxs-serum-defi-dex-powered-by-solana-is-live/) exchange CEO [Sam Bankman-Friend](https://twitter.com/SBF%5FAlameda?ref=dexplain.com), who now leads the SushiSwap project said: > “I’m extremely happy that Nomi returned the ETH; it was the right thing to do. We shouldn’t forget what he did, but we also shouldn’t forget that in the end he did the right thing.” Nomi also stated that after the successful liquidity migration, SushiSwap’s journey was only just beginning. However, if the community decides to forgive him remains to be seen. Many investors were burnt by Nomi’s market dump causing SUSHI’s price to tumble. And even a successful SUSHI buyback plan might not restore this damage. **Catch Up With The Tale:** - [Yield Farmers Devour Sushiswap: $250 Million Locked](https://dexplain.com/yield-farmers-devour-sushiswap-250-million-locked/) - [SushiSwap Update: Exit Scam? Takeover?](https://dexplain.com/sushiswap-update-exit-scam-takeover/) - [Vampire Bite: SushiSwap leaves Uniswap behind](https://dexplain.com/vampire-bite-sushiswap-leaves-uniswap-behind/) ### Sushi Buyback? The former Sushi leader mentioned that he/she plans to help the project in the shadows on the tech side without getting involved in the limelight. And that they would let the community decide how much they deserve, in any currency with any type of lockup schedule. > A proposal from [@AdamScochran](https://twitter.com/adamscochran?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) to use some of the returned $14m of ETH in the Sushiswap tresury to re-buy SUSHI:[https://t.co/53raJlAxHR](https://t.co/53raJlAxHR?ref=dexplain.com) > > — SBF (@SBF\_FTX) [September 11, 2020](https://twitter.com/SBF%5FFTX/status/1304456457572687877?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) However, it seems Nomi may have to wait for now, as the community’s initial reaction is to start a SUSHI buyback program. This would replenish the dev fund with SUSHI instead of Eth, as it was originally. Expect price movement! ### What is Kava? A Cross-Chain DeFi Platform URL: https://dexplain.com/what-is-kava-a-cross-chain-defi-platform/ Last updated: 2021-12-01T12:53:41.000Z Kava has set its sights on becoming the default [DeFi platform](https://dexplain.com/tag/defi) by enabling an easy [cross-chain](https://dexplain.com/cross-chain-defi-about-to-explode-polkadot-to-ethereum-bridge/) experience. The project aims to provide decentralized lending against all major crypto assets in the form of stablecoins. At its core, Kava feels very similar to MakerDAO with CDPs. However, where [Maker](https://dexplain.com/binance-lists-maker-mkr-and-dai-more-defi-tokens-enter-cefi/) limits itself to Ethereum ecosystem Kava plans to leverage the interoperability of the [Cosmos blockchain](https://cosmos.network/?ref=dexplain.com). Meaning that it can support independent networks such as [Bitcoin](https://dexplain.com/tag/bitcoin) or [Binance Chain](https://dexplain.com/tag/binance-smart-chain) natively. There is no need to wrap assets and use bridges to move tokens from one network to another. ## How does Kava DeFi platform work? As a cross-chain DeFi platform, Kava offers collateralized loans and [stablecoins](https://dexplain.com/category/blockchain-project-reviews/stablecoins/) to holders of major crypto assets such as BTC, XRP, BNB, or ATOM. Users can mint USDX Kava’s stablecoin in exchange for collateralizing their crypto assets. ![](https://dexplain.com/content/images/2021/12/kava-kava.webp) ### Quick Bite The value of the protocol is the ability to create synthetic leverage for any supported crypto asset. For example, you can lock up BNB as collateral and mint USDX to buy more BNB. Now you have a leveraged long position on BNB. - Binance exchange has integrated Kava for BNB DeFi staking programs, offering up to 25% APY for staking BNB. ### Deep Dive Kava follows a Proof-of-Stake (PoS) consensus model where the governance token KAVA is a network validator through staking. As a result, holders can stake to earn more tokens in the form of block rewards or transaction fees. The token also gives voting power, such as deciding which type of crypto assets are used as collateral. Furthermore, KAVA is the protocol’s reserve currency if ever the system is under-collateralized. In this scenario, new tokens are minted to buy USDX off the market until the system is safe. **Looking to the future…** for the platform to integrate with more wallets, exchanges, and financial services the Kava lending platform needs more USDX minted. To become a global financial system and [DeFi giant](https://dexplain.com/perlinx-the-launch-of-the-next-defi-giant/), there needs to be enough USDX liquidity. As a result, we recommend watching their announcements. As there will surely be more incentive programs offering generous rewards for minting the USDX stablecoin. ### Vampire Bite: SushiSwap leaves Uniswap behind URL: https://dexplain.com/vampire-bite-sushiswap-leaves-uniswap-behind/ Last updated: 2022-12-29T14:57:28.000Z [SushiSwap](https://dexplain.com/tag/SushiSwap) has taken its large vampire bite out of Uniswap, **holding 225% more** in Total Value Locked post-migration. Essentially, SushiSwap successfully migrated the liquidity away from Uniswap and into its protocol. And the numbers show wonders! Looking at the data, there is currently $1.3 billion of liquidity locked up in SushiSwap. Whereas, Uniswap is far behind with only about $400 million. ## SushiSwap Leaves Uniswap Behind SushiSwap, [the forked Uniswap protocol](https://dexplain.com/raw-piece-of-defi-sushi/), is now operating entirely on its own. Meaning there is no longer any need to stake Uniswap LP tokens. Liquidity providers wishing to join the new platform, simply deposit their assets directly into SushiSwap. And then stake the native Sushi LP tokens to earn rewards. ![](https://dexplain.com/content/images/2021/12/sushiswap-liquidity.webp) Amazingly the migration process went smoothly and only took a couple of hours. All of this was overseen by CEO of the popular cryptocurrency exchange FTX, Sam Bankman-Fried. SBF recently [took over the project](https://dexplain.com/sushiswap-update-exit-scam-takeover/) from the controversial anonymous developer Chef Nomi. It’s an amazing milestone for the DeFi project [that has been blazing](https://dexplain.com/yield-farmers-devour-sushiswap-250-million-locked/) through the industry since day 1\. Looking at the new website for interacting directly with SushiSwap, it appears to be a carbon copy of the Uniswap website with some small color changes. But, that is not a surprise as nearly everyone forks Uniswap’s UI. **Similar Flavor:** - [Kimchi DeFi is Looking Delicious?](https://dexplain.com/kimchi-defi-is-looking-delicious/) - [How to turn $200 into $250k trading buggy DeFi tokens](https://dexplain.com/how-to-turn-200-into-250k-trading-buggy-defi-tokens/) - [What is Hakka Finance and BlackHoleSwap?](https://dexplain.com/what-is-hakka-finance-and-blackholeswap/) ### What do the numbers say? Analytics website [sushiswap.vision](https://sushiswap.vision/home?ref=dexplain.com), reports that total liquidity locked is roughly $1.32 billion. Compared to Uniswap’s mere [$400 million](https://uniswap.info/?ref=dexplain.com), it appears as if SushiSwap has left Uniswap behind in the dust. However, this is not the only metric we should judge, Uniswap’s volume and the overall token count is still much higher than the fork. This could be simply due to Uniswap vast integrations into [Ethereum](https://dexplain.com/tag/ethereum) wallets and [dApps](https://dexplain.com/tag/dapps). Developers will undoubtedly start to integrate SushiSwap to ensure they offer their users the best rates. Interestingly, 1inch, the founders of [Mooniswap](https://dexplain.com/what-is-mooniswap-the-new-automated-market-maker-by-1inch/) reported they were already ready. > Here it is - [@SushiSwap](https://twitter.com/SushiSwap?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) now integrated 🍣 👌[#DeFi](https://twitter.com/hashtag/DeFi?src=hash&ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) [https://t.co/nfOayCoyZ8](https://t.co/nfOayCoyZ8?ref=dexplain.com) [pic.twitter.com/cA6K2GNUhu](https://t.co/cA6K2GNUhu?ref=dexplain.com) > > — 1inch Network (@1inch) [September 9, 2020](https://twitter.com/1inch/status/1303802539427717122?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) What remains to be seen is if liquidity providers will stick around once the generous SUSHI rewards slow down. Especially, given [the recent dumping of top DeFi tokens](https://dexplain.com/top-defi-tokens-dump-50-in-a-week/) where SUSHI saw heavy losses. Though the project may already have figured out the answer to this dilemma. ### 2 Million SUSHI Airdrop People who stayed loyal to the project and held during the migration, are going to enjoy **an incoming airdrop of 2 million SUSHI tokens**. With 1 million of these SUSHI tokens coming from SBF’s own holdings. The community then started a proposal to add an additional 1 million SUSHI tokens from the development fund. Other key figures in the DeFi space believe that this may just be a trend. Andre Cronje, the founder of the popular [Yearn Finance DeFi protocol](https://dexplain.com/yearn-finance-vaults-explained/), pointed out that liquidity providers have no loyalty at all. > I don't have a horse in this race, but I do like accurate data > > The narrative that [@SushiSwap](https://twitter.com/SushiSwap?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) took TVL from [@UniswapProtocol](https://twitter.com/UniswapProtocol?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) is simply false > > Uniswap TVL pre/post Sushiswap remains unchanged > > Sushiswap simply took their liquidity locusts with them > > Only the liquidity locusts win [pic.twitter.com/qr3UBn2paT](https://t.co/qr3UBn2paT?ref=dexplain.com) > > — Andre Cronje (@AndreCronjeTech) [September 10, 2020](https://twitter.com/AndreCronjeTech/status/1303937251844526086?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) He describes them as locusts, stating that right now Sushiswap’s success is subsidized. Time will tell. ### Top DeFi Tokens Dump 50% in a Week URL: https://dexplain.com/top-defi-tokens-dump-50-in-a-week/ Last updated: 2021-12-01T12:40:47.000Z **The DeFi food farming frenzy may have headed into the compost heap as the sector’s top DeFi tokens take heavy losses.** As everyone continues to watch Bitcoin’s struggle around the 10k levels, last month’s fastest climbers have fallen the hardest. During the DeFi summer, the top token gainers during the rally have all been fueled by decentralized finance products. And now in a turn of events, they are leading the losses. Bitcoin’s failure to burst past the $12k mark, and [Ethereum’s](https://dexplain.com/tag/Ethereum) cliff dive when nearing $500 have resulted in the whole cryptocurrency market seeing red. Over the past seven days, total market capitalization for all cryptocurrencies **has corrected by 20%** after a 26 month high. ## Top 6 DeFi Tokens Dumped the Hardest [Messari Crypto](https://messari.io/?ref=dexplain.com) tweeted out that it has been a rough week for the decentralized finance sector, with **six major tokens** dumping over 50% during the period. > Rough week in DeFi land with 6 assets dipping more than 50% + over the last 7 days > > Where are we going next? [pic.twitter.com/3vJiqb4xhr](https://t.co/3vJiqb4xhr?ref=dexplain.com) > > — Messari (@MessariCrypto) [September 8, 2020](https://twitter.com/MessariCrypto/status/1303346519119138816?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) We spot [Curve Finance](https://dexplain.com/what-is-curve-finance-and-crv/) token CRV being the biggest loser, with a drop of **over 65%** during the past seven days. You might remember Curve DAO token being sold at $50 just after it was launched mid-August. In a chart that resembles an ICO token after an exit scammed, CRV is now trading just under $2, a plummet of over 95% since launch. The other five tokens that have lost over 50% are Meta’s MTA, bZx Network’s BZRX, Ren’s REN token, Airswap’s AST, and Wrapped Nexus WNXM. The carnage did not end there, a whole range of DeFi protocol tokens, including BAL, [AKRO](https://dexplain.com/what-is-akropolis-a-look-at-defi-apps-sparta-and-delphi/), UMA, KAVA, BNT, SNX, [YFI](https://dexplain.com/yearn-finance-vaults-explained/), and KNC saw their value **drop between 30% to 40%** over the same period. **You Might Also Like:** - [What is Hakka Finance and BlackHoleSwap?](https://dexplain.com/what-is-hakka-finance-and-blackholeswap/) - [Ankr announces new Stkr Protocol, combines DeFi and Staking](https://dexplain.com/ankr-announces-new-stkr-protocol-combines-defi-and-staking/) ## What about SUSHI and the food clones? The crazy weekend of takeover events for [SushiSwap](https://dexplain.com/sushiswap-update-exit-scam-takeover/) has not restored any investor confidence. The token is now down by **over 80%** on the week as the SUSHI selloff ramps up. Following its popular launch, SUSHI’s price went up to top $11, but that high was very short lived. It is now traded at around $2.20 today, with the supposed liquidity migration just hours away – perhaps holders are wary that the team can actually prepare the fish? **Other less known protocols did not have a fun week either:** - [Kimchi Finance](https://dexplain.com/kimchi-defi-is-looking-delicious/) is definitely not faring any better, with KIMCHI token down by over 90%. - [DFI Money](https://dexplain.com/what-is-dfi-money-yfii-token-review/), the fork of Yearn, also reported heavy losses with YFII down by over 60% over the week. - [Harvest Finance](https://harvest.finance/?ref=dexplain.com), another popular automated yield farming tool, native token FARM is also down by over 60%. If you are holding these DeFi tokens discussed today, I wouldn’t despair just yet. Many of these projects saw four-figure percentage surges during this year, so you could argue a correction before new highs is a healthy sign. Time to hold out for the bounce! ### How to turn $200 into $250k trading buggy DeFi tokens URL: https://dexplain.com/how-to-turn-200-into-250k-trading-buggy-defi-tokens/ Last updated: 2021-12-01T11:23:25.000Z One DeFi token trader seems to have hit his lucky day where all the stars aligned. The anonymous trader took to twitter to reveal how he made $250k in profit by making a minor investment into a fork of [Yearn Finance](https://dexplain.com/yearn-finance-vaults-explained/) called Soft Yearn (SYFI) token. ## What in god’s name is SYFI token? Soft Yearn was launched as an adaptive [cryptocurrency](https://dexplain.com/tag/cryptocurrency) asset, meaning it automatically adjusts its supply to keep the value softly pegged. A concept made popular by the [Ampleforth](https://www.ampleforth.org/?ref=dexplain.com) token’s rebasing mechanism. A bug in the SYFI-rebasing mechanism meant that the Uniswap price of the token never adjusted to account for the rebase. **Hitting the jackpot…** Which meant that once the first rebase happened, the trader was able to sell his tokens at the previous price. This wiped out all of the [pool’s liquidity](https://dexplain.com/bancor-v2-launches-with-new-dynamic-liquidity-pools/) in one trade, netting the trader **740 ETH** from an initial investment of just **0.5 ETH**. - The anonymous trader known as Amplify on Twitter has stated he did not intentionally exploit the code. His trading strategy revolves around buying into fresh Uniswap listings with [Ethereum](https://dexplain.com/how-to-buy-ethereum-with-a-credit-card-on-binance/), and this was just a lucky pick. **The end for Soft Yearn…** Much like other [recent DeFi clones](https://dexplain.com/what-is-dfi-money-yfii-token-review/), SYFI token’s initial price started by going up rapidly. It then faced a sudden drop and once the users became [aware of the bug](https://twitter.com/softyearnfi/status/1301915560654131202?ref=dexplain.com), it collapsed completely. The team is working on v2 to fix the problem, but it looks like their reputation is already in tatters. ### Can Holochain’s hApps conquer the dApps? URL: https://dexplain.com/can-holochains-happs-conquer-the-dapps/ Last updated: 2021-12-01T11:00:24.000Z Holochain aims to be an open source framework for building distributed peer-to-peer applications. It is easier to see [Holochain](https://holochain.org/?ref=dexplain.com) as a peer to peer hosting platform. Which transforms Web 2.0 sites (e.g., Facebook, Wikipedia, Twitter, Slack, etc.) into Web 3.0 systems known as Holochain apps (hApps). These are cryptographically secured and decentralized through peer hosting, a bridge to the new internet where data is user controlled. Which begs the question, can Holochain’s hApps conquer the dApps? ## What is Holo’s value? Holo allows anyone to turn their computer into a source of revenue. One of the preferred analogies in the Holochain community is: > *Holo does to web hosting what Airbnb did to hotels.* The idea is that anyone can become a host and earn in Holo fuel. All you have to do is run the software to allocate spare storage space and power to the network. As a host you can choose which hApps you want to serve. Even set your own prices for hosting – essentially, run your hosting business as you see fit. ## Are hApps better than dApps? Applications built on Holochain are more scalable and efficient when compared to dApps built on [Ethereum](https://dexplain.com/tag/ethereum). This is because Holochain resembles more of a [DAG based blockchain](https://dexplain.com/what-is-vite-network-and-vitex/). Where hApps run on their own blockchain following their own validation rules. Meaning only participants involved in the transaction need to verify it. As a result, the network will not slow down by global consensus. In fact, Holochain apps can operate without a currency, they can even function while being offline. This is great for adoption! As you can immediately offer your application to people who may not really know [cryptocurrency](https://dexplain.com/tag/cryptocurrency) at all. **Looking to the future…** Building and using hApps over existing legacy websites allows you to own your own data. Imagine using social networks where you can keep control of your identity. Furthermore, you can verify when you use an application that it is not sharing your data. Many centralized apps share data with hundreds of other Apps that you do not even use. Vendors can build an online presence for their shop without needing to rely on centralized systems for payments. - The sector of data is very heated in blockchain, you could find competitors such as: [Dock](https://dexplain.com/all-eyes-on-docks-poa-mainnet-launch/), Fetch, [Ocean](https://dexplain.com/ocean-protocol-completes-token-swap/) or [SingularityNET](https://dexplain.com/what-is-singularitynet-agi-token-review/) – just to name a few. **To keep it short**, there are an endless amount of real-world use cases, without [scalability](https://dexplain.com/why-do-so-many-blockchains-rely-on-sharding-for-scalability/) issues. All Holochain needs to do is attract the developers and users! ### What is SingularityNET? AGI Token and the ASI Alliance (2026 Update) URL: https://dexplain.com/what-is-singularitynet-agi-token-review/ Last updated: 2026-07-17T16:22:56.000Z [SingularityNET](https://singularitynet.io/?ref=dexplain.com) launched as a decentralized marketplace for artificial intelligence, where anyone could buy and sell AI services on-chain. Founded by Dr. Ben Goertzel, a well-known figure in the artificial general intelligence (AGI) field, it became one of the earliest and most ambitious crossovers between crypto and AI. Since then, the project has undergone one of the biggest transformations in the sector. Here we will take a look at what SingularityNET is, what happened to the AGI token, and where the project stands today. ## What is SingularityNET? SingularityNET is a platform that lets developers publish AI algorithms as services that others can call and pay for, without a central intermediary. The idea is to create an open marketplace where AI agents can discover, use, and pay each other for services. As a result, it aimed to democratize access to AI and move the field away from a handful of large corporations. Originally, the network ran on the AGI token, used to pay for services and participate in governance. The project operates in the same broad category as other decentralized data and AI projects such as [Ocean Protocol](https://dexplain.com/ocean-protocol-completes-token-swap/) and [Fetch.ai](https://dexplain.com/fetch-ai-first-token-on-bitfinexs-new-catalyst-sale/). ## The Big Change: The ASI Alliance The most important development is that SingularityNET, Fetch.ai, and Ocean Protocol agreed to merge their tokens and efforts into the Artificial Superintelligence Alliance (ASI) in 2024\. As a result, the AGI token was migrated into the unified FET token (rebranded under the ASI banner), consolidating three major crypto-AI communities into one. (Note: as of 2026, Ocean Protocol has partially stepped back from the alliance, while compute partner CUDOS joined — so the membership has shifted since the original 2024 merger.) The goal of the alliance is to create a decentralized counterweight to the centralized AI labs, pooling technology, tokens, and research toward artificial general and superintelligence. Furthermore, it made ASI one of the largest crypto-AI ecosystems by market capitalization. ## What This Means for AGI Holders If you held AGI tokens, our [original AGI token review](https://dexplain.com/what-is-singularitynet-agi-token-review/) covers the pre-merger thesis; the practical takeaway is that the token has been migrated as part of the ASI merger. Anyone still holding legacy tokens should check the official SingularityNET and ASI Alliance channels for the current migration process. As a result, the standalone "AGI token" thesis from the early days no longer applies in its original form. ## Looking to the Future Looking to the future, SingularityNET continues to develop its AI platform and AGI research within the larger ASI Alliance. As a result, the project is now part of a much bigger bet via the [Artificial Superintelligence (ASI) Alliance](https://superintelligence.io/?ref=dexplain.com) on decentralized artificial intelligence. As always, do your own research and verify token details through official sources before taking any action. *This article was updated in July 2026 to reflect the migration of the AGI token and SingularityNET's role in the Artificial Superintelligence (ASI) Alliance.* ### SushiSwap Update: Exit Scam? Takeover? URL: https://dexplain.com/sushiswap-update-exit-scam-takeover/ Last updated: 2021-12-01T10:53:01.000Z [SushiSwap](https://dexplain.com/tag/Sushiswap), the food-inspired DeFi project which aims to fork Uniswap, now has a new owner. After the anonymous developer [Chef Nomi](https://twitter.com/NomiChef?ref=dexplain.com) market dumped $13M of dev funds, causing the price of SUSHI to drop by 88%. The project is now led by [FTX CEO Sam Bankman-Fried](https://twitter.com/SBF%5FAlameda?ref=dexplain.com), in what appears to be a takeover. Here we explore the latest SushiSwap update, from exit scam to takeover. ## Creator pulls an exit scam? After repeatedly telling the community he would not dump the dev share tokens, Nomi withdrew over 20,000 ETH and 2,558,644 SUSHI from the dev fund. He then proceeded to sell all of his Sushi to ETH, which caused the community to cry exit scam. However, Chef Nomi did stick around, claiming that he did not exit scam and that he deserved the funds as he created the project. > I did the recent move because I care about the community. I'm taking IL for you. But all I received was blaming and FUDing. > > Here's what happened. The devshare part of me. I converted them to [$ETH](https://twitter.com/search?q=%24ETH&src=ctag&ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com). I stop caring about price and I will focus on the technicality of the migration. > > — Chef Nomi #SushiSwap (@NomiChef) [September 5, 2020](https://twitter.com/NomiChef/status/1302214292792422401?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) The crypto community did not see it this way, and the price of SUSHI continued to plummet. As a result, prominent developers from the [DeFi space](https://dexplain.com/tag/defi) called for action, advising the remaining dev funds should be under a multi-sig. Andre Cronje, creator of [Yearn Finance](https://dexplain.com/yearn-finance-vaults-explained/), asked if he would be returning the dev funds as it appeared Nomi was walking away. ## SBF the Sushi Saviour? It was at this point that SBF took over the protocol, announcing that the keys of SUSHI will move to a multisig to ensure a future of decentralized governance. He also called for the head developer Nomi to step down immediately, criticizing that his actions had caused too much damage to [SushiSwap](https://dexplain.com/yield-farmers-devour-sushiswap-250-million-locked/). The community reacted very positively, and the price of SUSHI stabilized. SBF summary of the situation is below, where he mentions that SushiSwap will also be coming to [Serum DEX](https://dexplain.com/ftxs-serum-defi-dex-powered-by-solana-is-live/). > *a) Nomi sucks and hurt the community* > > *b) Sushi shows promise as a dynamic AMM built by the community* > > *c) If Nomi doesn’t step down, it’s over for Sushi.* > > *d) If Sushi adds a division on Serum, we’ll give 5mm SUSHI to farmers* > > *e) Either way, AMMs coming to Serum.* ### A preplanned acquisition? Many industry players reacted very positively to [SushiSwap](https://dexplain.com/tag/sushiswap) update, being acquired by FTX/Serum/SBF. The price of SUSHI was on its way down to the trash can, and this acquisition has potentially saved a lot of investments from rotten fish. The CEO of BitMEX, Arthur Hayes, [stated](https://twitter.com/CryptoHayes/status/1302517627021979650?ref=dexplain.com): > “Please save me from a bad $SUSHI investment SBF. He is our new master chef.” However, there was a more sinister talk going around the crypto underbelly. One that put forth a theory that this whole debacle was pre-planned from the start to damage Uniswap. **And is it so crazy?** Sam’s biggest competitor for Serum would be Uniswap. Therefore, he stands to gain a lot by splitting up the [liquidity of Uniswap](https://dexplain.com/kimchi-defi-is-looking-delicious/) and damaging DeFi on Ethereum. Not to mention, how SushiSwap appeared overnight and was able to gain near-instant listings on FTX and Binance. Sure this is a tinfoil hat theory, but wilder things have happened in the world of crypto. ### What is SnowSwap? Liquidity for Yearn USD Vaults URL: https://dexplain.com/what-is-snowswap-liquidity-for-yearn-usd-vaults/ Last updated: 2021-12-01T15:30:54.000Z [SnowSwap](https://snowswap.org/iearn?ref=dexplain.com) is a new decentralized exchange for swapping [yield bearing](https://dexplain.com/tag/yield-farming) stablecoins. Specifically, built for yield bearing [Yearn Finance](https://dexplain.com/tag/yearn-finance) assets. The aim is to eliminate steps from swapping stablecoins, when users want to swap to a different [Yearn DeFi Vault](https://dexplain.com/yearn-finance-vaults-explained/). Instead of having to withdraw and deposit assets again, wasting Eth to high transaction fees. SnowSwap lets you trade between Yearn vaults directly, saving users a lot of headache, cost, and time. ## What is SnowSwap? At its core the [automated market maker (AMM)](https://dexplain.com/what-is-mooniswap-the-new-automated-market-maker-by-1inch/) is a fork of [Curve Finance](https://dexplain.com/what-is-curve-finance-and-crv/). It uses Curve’s pooling algorithms but it goes well beyond just being a simple copy and paste fork. SnowSwap is an innovative use case for yield bearing stablecoin assets which aims to solve a real problem. ![](https://dexplain.com/content/images/2021/12/comparison-dexs.webp) Despite over 220 million yUSD tokens being minted, there are no liquid markets for the wrapped stablecoins. **You May Also Like:** - [Yearn Finance Introduces StableCredit and YFI Price Surges](https://dexplain.com/yearn-finance-introduces-stablecredit-and-yfi-price-surges/) - [Value Liquid will feature Flexible Farming](https://dexplain.com/value-liquid-will-feature-flexible-farming/) - [Double Farming with SashimiSwap](https://dexplain.com/double-farming-with-sashimiswap/) Exiting vaults can be costly with 0.5% withdrawal fees if their token reserve is low, plus the high gas costs. **Pools for yVault stablecoins…** By creating liquidity pools for yUSD tokens, SnowSwap solves these problems. The platform is designed to offer low slippage swaps, meaning that when a user does want to exit a vault they could swap into the vault with a large reserve (to avoid paying withdrawal fees). - You can also earn additional yield from assets by being a liquidity provider. The trading fees are set at 0.04% per swap, which go to the LPs. **SNOW liquidity mining…** And as an additional bonus, [users will earn SNOW](https://medium.com/@community%5F7384/f-k-making-it-rain-were-making-it-snow-e60b64ad1292?ref=dexplain.com), the governance token for SnowSwap. The team intends to use SNOW to bootstrap the platform’s overall liquidity. With 80% of the token’s total supply being distributed to LPs, this ecosystem looks ripe for yield farmers. ### What is DFI Money? YFII Token Review URL: https://dexplain.com/what-is-dfi-money-yfii-token-review/ Last updated: 2021-12-01T10:48:26.000Z [DFI Money](https://dfi.money/?ref=dexplain.com#/) or YFII is a DeFi protocol that aims to facilitate yield farming through the use of automated strategies. It is a fork of the very popular [Yearn Finance](https://dexplain.com/yearn-finance-vaults-explained/) protocol with YFI token. The main difference is YFII implements a token halving model. Which aims to keep the token distribution fair and stop whales [farming](https://dexplain.com/akrologize-and-farm/) all the rewards. However, many have simply labeled DFI Money as the Chinese clone of Yearn. This is because they have a major following on WeChat. ## Why was YFII born? As discussed in our Yearn Finance review, the protocol allows users to deposit their assets and automatically find the best yield farming strategies. It makes use of popular DeFi products such as [Curve](https://dexplain.com/what-is-curve-finance-and-crv/) or [Aave](https://dexplain.com/aave-protocol-overtakes-maker-with-over-1-5-billion-locked/). The platform created a governance token called YFI which is distributed to liquidity providers by issuing 30,000 YFI tokens per week. Much like how [Kimchi Finance](https://dexplain.com/kimchi-defi-is-looking-delicious/) rewards users with KIMCHI tokens. To prevent inflation, a proposal was put forth to initiate a weekly halving of the issued YFI tokens. However, the proposal failed to pass. As a result, an anonymous team decided to [hard fork](https://dexplain.com/six-crypto-mainnet-launches-and-hard-forks-to-watch/) the project creating YFII where they implemented the changes. **Zoom in:** this economic design change encourages people to participate in mining YFII, while still allowing latecomers to earn rewards. The fork is seen as controversial by some of the community, with [Balancer removing the YFII-DAI](https://twitter.com/DfiMoney/status/1288405347976192000?ref=dexplain.com) pool even though it had $20M liquidity in it. - Binance listed YFII for free on 1st September given how popular the token is for DeFi farmers and enthusiasts. **Zoom out:** DFI Money is here to stay in the decentralized finance sector. Recently, the [commun](https://gov.yfii.finance/t/possibilities-of-cooperation-with-other-projects/430?ref=dexplain.com)[i](https://gov.yfii.finance/t/possibilities-of-cooperation-with-other-projects/430?ref=dexplain.com)[ty passed a proposal](https://gov.yfii.finance/t/possibilities-of-cooperation-with-other-projects/430?ref=dexplain.com) to attract collaboration with other teams by using YFII as a seed token. Essentially, 5% of the protocol’s rewards will go to a new pool to create a $1 million rewards pool. ### What is Curve finance and CRV? URL: https://dexplain.com/what-is-curve-finance-and-crv/ Last updated: 2021-12-01T10:46:52.000Z [Curve Finance](https://www.curve.fi/?ref=dexplain.com) is a decentralized exchange designed to provide the best possible rates when trading stablecoins. Curve uses liquidity pools much like [Bancor](https://dexplain.com/bancor-v2-launches-with-new-dynamic-liquidity-pools/) or [Mooniswap](https://dexplain.com/what-is-mooniswap-the-new-automated-market-maker-by-1inch/), to make the trading as efficient as possible. As with most [decentralized finance (DeFi)](https://dexplain.com/tag/defi) projects, the platform also has its native governance token CRV. Below we will take a quick look at what Curve finance is, and how it has launched the CRV DAO governance wars. ## How is Curve finance different? Since Curve focuses on stablecoins trades, liquidity providers have a much lower risk because the asset is not volatile. As a result, Curve has gained a lot of traction with large institutions. Such as, Coinbase who want to ensure USDC liquidity for DeFi protocols. For example, we find the protocol’s liquidity pools integrated with [Aave](https://dexplain.com/aave-protocol-overtakes-maker-with-over-1-5-billion-locked/), Compound, [Yearn Finance](https://dexplain.com/yearn-finance-vaults-explained/), and DFI Money. More recently, support for Wrapped Bitcoin implementation was added. Which has opened up even more integrations and partnerships, with teams such as REN, WBTC, and SNX. **What about this CRV token…** the native token is distributed as a reward for liquidity providers, it is used for voting on platform governance. However, CRV distribution is vested which helps ensure CRV is not immediately dumped on the market. There are also rewards for locking up your CRV which resembles [staking](https://dexplain.com/ankr-announces-new-stkr-protocol-combines-defi-and-staking/). Essentially, there are design choices to help the token price go up. This is unlike DeFi protocols such as [SushiSwap](https://dexplain.com/yield-farmers-devour-sushiswap-250-million-locked/) or [Kimchi Finance](https://dexplain.com/kimchi-defi-is-looking-delicious/) which are seen as more risky, where the tokens distribution appears to be a never-ending flood onto the market. - CRV distribution has led to what is called the Curve DAO Governance wars. This is where holders are continuously trying to make sure their preferred pools offer the highest level of CRV rewards. Which creates buying pressure! **What a funny looking UI…** if you have never used the DeFi protocol before, you may be in for a shock. Though veteran computer programmers may find it a blast from the past. It is not the easiest UI to navigate and requires some getting used to, which could threaten further adoption. ### Yearn Finance Vaults Explained URL: https://dexplain.com/yearn-finance-vaults-explained/ Last updated: 2021-12-01T10:42:28.000Z Excitement over [Yearn Finance’s](http://yearn.finance/?ref=dexplain.com) new yETH vault caused a flurry of bullish comments around crypto twitter. Many pointed out that the product release could ignite buying pressure and trigger a rally on the [ETH markets](https://dexplain.com/tag/Ethereum). Essentially, users can deposit ETH and the protocol will find the highest yielding decentralized finance (DeFi) strategy for their funds. ## What are Yearn Finance vaults? Vaults seek the best returns for [yield farmers](https://dexplain.com/akrologize-and-farm/), removing all the hours of research to maximize the profitability of yield farming. With the bonus of pooling funds to save money on gas fees also. Each vault follows a unique strategy to maximize the yield of the deposited asset. You could compare it to a form of automatic money management. Another reason why Yearn Finance has become so popular is that these vaults are designed for depositing one asset. Whereas, to earn rewards on protocols such as [Mooniswap](https://dexplain.com/what-is-mooniswap-the-new-automated-market-maker-by-1inch/) you need to pool two assets. ### **Making Yield Farming Inclusive** [Andre Cronje](https://twitter.com/AndreCronjeTech/?ref=dexplain.com), Yearn’s creator, has stated his main reason for creating the protocol was to make DeFi farming accessible to everyone. Sure, if you regularly use [DeFi protocols](https://dexplain.com/yield-farmers-devour-sushiswap-250-million-locked/) then yield farming would not have seemed so complicated. However, you have to factor in gas costs. For a small investor with limited funds, the cost of doing business on Ethereum is just too high. To the point, that yield farming with less than $10,000 is a waste due to the high fees. Yearn solves this problem for small investors by pooling their funds together to become one super investor. While many of the strategies are built around [stablecoins on Curve](https://dexplain.com/what-is-curve-finance-and-crv/), Cronje is working on new designs for other assets such as SNX, KNC, or [AAVE](https://dexplain.com/aave-protocol-overtakes-maker-with-over-1-5-billion-locked/). ### **Is this risk-free?** No, much like using any financial product in [cryptocurrency](https://dexplain.com/tag/cryptocurrency), there are always risks. Yearn is no exception to that rule and indicates it heavily on their website. Many of the [strategies](https://dexplain.com/best-crypto-indicators-for-1-hour-trading-strategy/) to earn resolve around using lending protocols such as [Maker DAO](https://dexplain.com/binance-lists-maker-mkr-and-dai-more-defi-tokens-enter-cefi/), which means assets may not always be available if you do want to withdraw. There are the general risks of smart contract coding bugs and also the *key man risk.* For example, an article spreading FUD that Cronje was leaving the project caused the protocol’s native token YFI to flash crash. - The YFI governance tokens allows holders to vote on protocols proposals. It was distributed to users of the protocol, in a launch that is considered to be the fairest since [Bitcoin](https://dexplain.com/tag/bitcoin) was created. **Looking to the future…** if [DeFi](https://dexplain.com/tag/defi) is ever going to be ready for the masses, it needs to be affordable for everyone. Yearn Finance is taking the steps in this direction, allowing smaller portfolios to try out DeFi investing. Of course, investors with access to more capital can make more money than the smaller fish. That is just how the world turns, but we can’t claim to be decentralized if there is not an opportunity to profit accessible to all. ### Cardano building DeFi Stablecoin on Ergo URL: https://dexplain.com/cardano-building-defi-stablecoin-on-ergo/ Last updated: 2021-12-01T10:39:44.000Z [Cardano](https://cardano.org/?ref=dexplain.com) founder Charles Hoskinson recently hinted that there was a lot of DeFi development happening at IOHK. One of the big reveals was a partnership through IOHK, Emurgo and Ergo will launch an algorithmic stablecoin. With true Charles swagger, he [immediately stated](https://twitter.com/Florian7788/status/1300434926014267392?ref=dexplain.com) it would be significantly better than [Maker DAO](https://dexplain.com/binance-lists-maker-mkr-and-dai-more-defi-tokens-enter-cefi/). ## So what is the big deal? The DeFi sector is going through a massive boom, with over $8 billion locked into various protocols on [Ethereum](https://dexplain.com/tag/ethereum). Cardano has been relatively silent on what they want to do in this space. Hoskinson confirmed that more announcements will come later, perhaps around yield farming. That this new stablecoin is just one of the many DeFi products being explored. This has excited the massive ADA community to quickly get behind Ergo. **Zoom in:** A new oracle solution to power DeFi products is already live on [Ergo’s blockchain](https://ergoplatform.org/en/?ref=dexplain.com). And it will be fully compatible with Cardano’s Goguen release. This is a new approach to data oracles using [pools](https://dexplain.com/bancor-v2-launches-with-new-dynamic-liquidity-pools/). Fundamentally, different from Chainlink, with no native token required as a means of payment. Essentially, financial barriers are lower for teams to use oracles on Cardano compared to Ethereum. - Even though ERG is tricky to buy without a mainstream exchange listing, that did not stop ADA whales moving in. ERG is now up by **over 200% in the last 30 days**, the token is listed on [ViteX](https://dexplain.com/vite-hard-fork-plans-for-zero-fees-stablecoin-trading/). **Zoom out:** During the following month, ERG will integratewith the Yoroi wallet. Notably, it will be the first non-ADA asset in the the wallet. As a result, ERG will then be accessible by the whole Cardano community and will receive a lot of attention. **I am expecting the buying pressure on this coin to be massive**. To the point that its current $26M market cap will more than triple. ### Enter Ethverse where Minecraft meets Ethereum URL: https://dexplain.com/enter-ethverse-where-minecraft-meets-ethereum/ Last updated: 2021-12-01T10:35:39.000Z [ETHVerse](https://ethverse.com/?ref=dexplain.com) is a virtual world game built on top of Minecraft, powered by Ethereum. The team aims to enable users to truly own their virtual assets, along with trading them through an in-game decentralized marketplace. Essentially, users will be able to monetize their imagination for building in Minecraft. ## What does ETHVerse add to Minecraft? Users will have an integrated on-chain wallet, enabling them to deposit, send, and receive tokens while playing. Blockchain-powered ownership of virtual land and assets is possible via non-fungible tokens. A marketplace dApp enables users to buy, sell or trade assets and services in a decentralized manner. There are also plans for community governance of ETHVerse via staking. **Zoom in:** the team plans to allow users to collateralize their virtual assets, opening up the possibility for in-game [DeFi](https://dexplain.com/tag/defi) products. A unique feature not seen in competitors such as Enjin, Decentraland, or Sand. - Competitors: ENJ, MANA, and SAND have a market cap of $200M, $130M, $30M respectively. Whereas ETHV has a **$4M market cap**, there is room to grow! **Zoom out:** Building on [Ethereum](https://dexplain.com/how-to-buy-ethereum-with-a-credit-card-on-binance/) is a scalability concern for gaming, will people pay a $20 transaction fee to move ETHV around in-game? Games need a high throughput chain with a low cost such as [Lamden](https://dexplain.com/lamden-mainnet-launch-is-around-the-corner/) or [Chromia](https://dexplain.com/what-is-chromia-chr-token-blockchain-review/). **Not so fast cowboy…** 31M tokens are going to unlock soon, and does the team have any vesting plans? The [second wallet](https://etherscan.io/token/0xeeeeeeeee2af8d0e1940679860398308e0ef24d6?ref=dexplain.com#balances) already has 1M tokens available to dump on you. We will need answers. ### What is a Stop Limit order? URL: https://dexplain.com/what-is-a-stop-limit-order/ Last updated: 2022-11-14T22:07:12.000Z A stop-limit order is one of the many different order types you will find on cryptocurrency exchanges such as [Binance](https://dexplain.com/tag/binance). The easiest way to understand a Stop-Limit Order for crypto trading is to know that it helps you mitigate risk. Because, it is an order that combines the features of stop price and limit price. The stop price is the price that is going to trigger your limit order. And the limit price is the specific price of the limit order that you wish to create (when triggered). Meaning that as soon as the coin or token market you are trading hits your trigger price, then your limit order will instantly be placed on the order book. For the most part, cryptocurrency exchanges recommend that you ****do not set** the stop and limit at the same price. Otherwise, in periods of extreme volatility such as a Bitcoin or Ethereum flash crash, then your stop may fail. In short, the order creation may be triggered but the market price already passed your price so nothing is filled. Therefore, it is best practice ****for sell orders** to set the trigger price (stop price) higher than the limit price. And ****for buy orders**, the opposite applies,you should set the trigger price a little lower than the limit price. ## **Quick Takeaways** - Stop-limit orders are a conditional trade that works by combining a limit order with a stop loss. - The main advantage of using them is to have precise control over when orders should be filled, of course, there is never a guarantee that it will be executed. - Traders will generally use the tool to book profits or to stop downside losses running wild. ## **How do Stop-Limit Orders Work?** To use the trading feature on any [cryptocurrency](https://dexplain.com/tag/cryptocurrency) exchange you will be required to set up two price points. 1. ****Stop:** think of this as your specified trigger price for the trade to start. 2. ****Limit:** this is the price at which your trade is placed. Contrary to trading on stock markets, a stop-limit order on a crypto exchange will not ask for a timeframe. This is because crypto markets never close and are always open for business. However, you may find that certain exchanges advise that your order will ****only be valid for 28 days**. This will be indicated, so just keep that in mind. The benefit of learning how to use stop-limit orders is to make precise trades. You can decide exactly when your [Bitcoin](https://dexplain.com/tag/bitcoin) or [Altcoin](https://dexplain.com/tag/altcoins) order to buy or sell should be filled. For example, traditional stop orders will just buy or sell at market price in the entirety. As soon as the market hits the trigger price then everything is filled. This is not great for trading crypto because markets are more volatile with quicker price swings. With this trading tool your trade will only be executed at the price you have set and considered favorable. As with all limit orders, the downside would simply be misreading the market. Consequently, the crypto asset you are trading does not reach your specified stop price (the trigger) and is never executed. From my experience, nearly every online cryptocurrency exchange has stop-limit orders as an available option. Another trick is to use stop-limit buy orders to set up your entry positions. In particular, buying once the coin breaks through a [major resistance level](https://mytradingskills.com/what-is-resistance?ref=dexplain.com), which signals the start of an uptrend. ### **Real-world example of using a stop on Binance** Firstly, if you have never traded crypto, be sure to read our guide [on buying Ethereum with your bank card](https://dexplain.com/how-to-buy-ethereum-with-a-credit-card-on-binance/). Say you buy 100 EGLD at $8.9 USDT because your trading analysis supports that the price is at a major support level. In short, its likely to start going up with ‘s price going to new all-time-highs. ![](https://dexplain.com/content/images/2021/11/image-33.png) EGLD/USDT For this type of trading, you may wish to set up a stop-limit sell order to lower your losses. Namely, in case you have made the wrong assumption and the price starts to drop lower. First you would need to login to your Binance account and fund it by [buying cryptocurrency](https://dexplain.com/how-to-buy-ethereum-with-a-credit-card-on-binance/). Then open the EGLD/USDT market. Navigate to the ****Stop-Limit** tab, specify your stop and limit price, along with the amount of eGold to be sold. Here we are assuming that $8.9 USDT is a strong support level for EGLD. #### **Setting up your order** Next, set your stop price just below this support level price which we have assumed is $8.90\. The idea being that if the support level does not hold then you wish to sell and cut your losses. In this example, we will set a stop-limit order for 100 EGLD with the trigger price at $8.50 USDT and the limit price of $8.45 USDT. Remember, you need to set your limit price a bit lower than the stop price. Alternatively, you risk the order not being executed if the price is falling drastically. ![](https://dexplain.com/content/images/2021/11/image-34.png) Example of a Stop Limit When you click on ****Sell EGLD**, a confirmation box will appear for you to check all the details. Once you are happy that everything is correct, click ****Confirm** to place the order. [Crypto Exchanges: Where To Sign Up?Which cryptocurrency exchange should I use? List of best platforms for trading crypto on spot or futures: Bybit, Delta, Binance, and KuCoin.![](https://dexplain.com/content/images/size/w256h256/2021/12/dexplain-brain-2-1.png)Decentralized Explained | dExplainmf\_reason![](https://images.unsplash.com/photo-1640340434855-6084b1f4901c?crop=entropy&cs=tinysrgb&fit=max&fm=jpg&ixid=MnwxMTc3M3wwfDF8c2VhcmNofDUyfHxleGNoYW5nZXN8ZW58MHx8fHwxNjQyNjEyNTA2&ixlib=rb-1.2.1&q=80&w=2000)](https://dexplain.com/crypto-exchanges-where-to-sign-up/) After placing your new order on the binance trading platform. You should see a confirmation message pop up on the bottom right of your browser. You will also see your open order available to be managed at the bottom of the page. ## **Stop Limit Orders: Conclusion** Here you can monitor your open orders and cancel it if needed. Note that if the order creation is triggered by your specified stop price, but the market price never reaches the price you set, then it is possible that your limit order is never executed. In this case your limit order will remain open. There is two simple rules to remember when using this feature on any crypto market. Buy stop-limit orders will need to be placed above the market price at the time of the order. Whereas sell stop-limit orders are placed below the coin’s market price. Stay safe and trade well! ### What is Lition? GDPR Compliant Sidechains URL: https://dexplain.com/what-is-lition-gdpr-compliant-sidechains/ Last updated: 2021-12-01T10:33:03.000Z [Lition](https://www.lition.io/?ref=dexplain.com) aims to enable the commercial usage of dApps on [Ethereum](https://dexplain.com/how-to-buy-ethereum-with-a-credit-card-on-binance/). To do this the Lition protocol will add on various features such as privacy, scalability and the ability to delete data. Essentially, the team is building a sidechain solution for Ethereum which allows companies to build dApps that follow GDPR compliance. ![](https://dexplain.com/content/images/2021/12/Lition-article-image.webp) ## What is Lition? Much like [Loopring](https://dexplain.com/loopring-the-solution-to-high-ethereum-gas-fees/), the Lition protocol will leverage zero knowledge proofs to offer teams infinite scalability. Theoretically, block times will confirm and verify within 3 seconds which is fast enough to support real time [payment applications](https://dexplain.com/swipe-network-launches-staking-with-12-apr/). Furthermore, these side chains will secure through [staking](https://dexplain.com/cold-staking-and-privacy-focused-defi-coming-to-qtum/) the native LIT tokens, where node operators can earn rewards. **I never heard of this team…** Lition is already operating a P2P energy trading platform in Germany, supplying customers with green power and saving them money. As a result, institutions are taking notice: partnerships with Microsoft, N26, SAP, and TomoChain. - LIT market cap is currently $8M, with big potential to grow given the use case. The risk here is the project does not have a high profile exchange listing, meaning low daily trading volumes. Watch announcements! **Real use case for enterprises…** The ability for companies to control the data on their [dApp’s sidechain](https://dexplain.com/tag/dapps) is the real selling point here. Data that can be public or private, and features to delete it remove many headaches for companies to embrace [blockchain](https://dexplain.com/tag/blockchain). To summarize, being GDPR compliant is a very big deal for companies, especially those based in Europe. ### Loopring the Solution to high Ethereum gas fees? URL: https://dexplain.com/loopring-the-solution-to-high-ethereum-gas-fees/ Last updated: 2021-12-01T10:31:03.000Z As [Ethereum](https://dexplain.com/tag/ethereum) users continued to cry about high transaction fees eating up their DeFi profits. Vitalik Buterin simply stated that the answer was already here. Use [Looping](https://loopring.io/invite/2626?ref=dexplain.com)! Essentially, the implication is that Layer 2 solutions with over 2500 TPS already exist for [trading](https://dexplain.com/how-to-buy-ethereum-with-a-credit-card-on-binance/), we just have to embrace them. > To those replying with "gas fees are too high", my answer to that is "well then more people should be accepting payments directly through zksync/loopring/OMG". Seriously, scaling to 2500+ TPS for simple-payments applications is here, we just need to... use it. [https://t.co/J2KMJyLKv6](https://t.co/J2KMJyLKv6?ref=dexplain.com) > > — vitalik.eth (@VitalikButerin) [September 1, 2020](https://twitter.com/VitalikButerin/status/1300707752335962113?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com) ## What is Loopring? Loopring is a decentralized exchange for trading tokens and making payments that use ZK-Rollups. Technology that can drastically lower transaction costs for end-users. As a result, the protocol can support 7000 trades per Ethereum block. To keep it simple, using zero-knowledge proofs takes all of the computation off the [blockchain](https://dexplain.com/why-do-so-many-blockchains-rely-on-sharding-for-scalability/). It reduces the amount of data needed in a transaction. Loopring also has a native token LRC, which holders can stake. This allows you to reduce fees, earn rewards, and help secure the protocol. **The solution to Eth scalability…** With traders unhappy over the high gas fees to complete swaps on Uniswap. We should see Loopring DEX reaching new trading volume highs. The team is listing tokens with active communities such as **YFI** and **BZRX**. Along with, [liquidity mining programs](https://twitter.com/loopringorg/status/1300573948229414913?ref=dexplain.com) to support new markets. - LRC itself has enjoyed the summer DeFi craze, as investors sought to buy into Eth scalability solutions. **Upcoming releases**…Wider adoption looks imminent with [the release of their app](https://twitter.com/jay%5Floopring/status/1299732328722300928?ref=dexplain.com) which will enable easy trading via mobile. Furthermore, [Loopring 3.6 release in Q4](https://medium.com/loopring-protocol/loopring-protocol-3-6-features-and-challenges-edcon-presentation-673c6f9e9dd6?ref=dexplain.com) will solve the main user complaint of long deposit and withdrawal times. ### Yield Farmers Devour Sushiswap: $250 Million Locked URL: https://dexplain.com/yield-farmers-devour-sushiswap-250-million-locked/ Last updated: 2022-01-03T16:53:58.000Z Even after a few weeks of copycat projects, scams, and the Yam protocol fiasco it looks like the [DeFi craze](https://dexplain.com/tag/defi) is far from over. The new decentralized exchange protocol [Sushiswap](https://sushiswap.org/?ref=dexplain.com), which incentivizes use through a new token, locked up **over $250 million of value** within just 24 hours. ## Oh and did we mention it is unaudited? Although the launch just happened a few days ago on the 28th August, the protocol quickly locked up over $250 million worth of [Ethereum](https://dexplain.com/how-to-buy-ethereum-with-a-credit-card-on-binance/), [stablecoins](https://dexplain.com/binance-lists-maker-mkr-and-dai-more-defi-tokens-enter-cefi/) and other assets. Worryingly, the contracts have not gone through a security audit! Seemingly showing just how crazy yield farmers are in their quest of chasing DeFi rewards. **To keep it simple…** Sushiswap will evolve into an Automated Market Making protocol clone of the popular Uniswap. However, the key difference is that Sushiswap has its own token. Aptly named SUSHI, the coin is an incentive for liquidity providers to migrate from Uniswap to SushiSwap. Also, SUSHI provides holders with dividends: 0.05% of every transaction made via the exchange. - Pseudonymous developer [Chef Nomi](https://twitter.com/NomiChef?ref=dexplain.com) is the project’s creator. However, SushiSwap has an in-built governance function so the protocol will not be centrally controlled. **Looking to the future…** leading smart contract auditor [QuantStamp has confirmed to be working](https://twitter.com/Quantstamp/status/1299456010197831681?ref=dexplain.com) on an audit right now. Keep your eyes peeled for their updates, as the results will undoubtedly spell out the doom or success of Sushiswap. ### Elrond Launches Mainnet with new App Maiar and Enhanced Token Model URL: https://dexplain.com/elrond-launches-mainnet-with-new-app-maiar-and-enhanced-token-model/ Last updated: 2026-07-17T16:37:49.000Z > **Editor's note (2026 update):** Elrond rebranded to [MultiversX](https://dexplain.com/what-is-multiversx-egld-formerly-elrond-review-2026-draft/) in late 2022\. For the current project, how the network works today, and where the EGLD token stands, see our updated review: [What is MultiversX (formerly Elrond)?](https://dexplain.com/what-is-multiversx-egld-formerly-elrond-review-2026-draft/) [Elrond](https://dexplain.com/tag/elrond) launches mainnet successfully along with a new mobile wallet application called Maiar. Known as the public internet scalable blockchain, the industry has been watching the launch closely. Elrond’s native cryptocurrency ERD will also go through an economic token model change. Namely, introducing a deflationary element to its yearly issuance. The idea is increased scarcity will influence the asset’s value. Furthermore, the ERD token will stop being used and holders will migrate to the EGLD token. ## Elrond Launches Mainnet with Maiar [Maiar](https://maiar.com/?ref=dexplain.com) is a new multi-functional mobile financial application. It will play an integral part in growing Elrond’s ecosystem from day one. Users are able to buy eGLD directly within the app with over 150 different fiat currencies. Furthermore, you can use the Maiar app to spend, stake, or lend EGLD tokens. [Why do so many blockchains rely on Sharding for Scalability?Why do so many blockchains rely on Sharding for Scalability? Here we take a look at what is sharding in blockchain.![](https://dexplain.com/favicon.ico)dExplainmf\_reason![](https://dexplain.com/content/images/2021/11/what-is-sharding-fixed.jpg)](https://dexplain.com/why-do-so-many-blockchains-rely-on-sharding-for-scalability/) Firstly, unlike other clunky mobile wallets, Maiar is built with providing the best user experience. Compared to, simply being another blockchain technology. Secondly, anyone can use Maiar to access financial tools, the only requirement being a phone number. This provides a very easy onboarding ramp for the mainnet launch as it reflects how many mainstream mobile applications work today. Creating an account happens in seconds without the long-winded security process of saving seed phrases and creating backups. The cool part is that there is no need to remember long cryptocurrency wallet addresses. Because, Maiar ties your phone number to the Elrond blockchain. Allowing you to send funds to your friend just by knowing their phone number. Furthermore, you can also set up a username to connect your account on the blockchain. Therefore, if you prefer you can keep your phone number private. ### What if you could take back time? Is this mystical statement a little confusing? I agree. The Elrond mainnet launch video explains this is referring to getting rewards for using the Maiar App. This is a **gamified** approach, where users get rewards for performing specific actions or tasks inside Maiar. ![](https://dexplain.com/content/images/2021/11/image-19.png) More interestingly, Maiar is a new product for every crypto user in the industry. As a result, it supports more coins and is not limited to Elrond’s mainnet. You can use it to map your username to your [Bitcoin](https://dexplain.com/tag/bitcoin) address, [Ethereum](https://dexplain.com/tag/ethereum), or other coins and tokens. Meaning you can receive payments simply by sharing your username and keep all of your wallet addresses private. This is a great move by the platform to onboarding existing crypto holders into their emerging DeFi ecosystem. Users will progressively set higher levels of security for using the Maiar App. In bried, it will depend on the value of their portfolio, or how they are using the app. Thus, long seed phrases and required backup messages do not scare away novice users. As you learn more about blockchain and crypto, Maiar will ask you to complete various security tasks. Meaning that as your portfolio grows in value, you can make it more secure. For example, you can also set up family or friends as ***Guardians*** which then resembles a multi-signature wallet arrangement. ### New Tokenomics Along with the Elrond mainnet launch is a change to the ERD economic model. The change should increase the value for the ERD crypto token long-term. More importantly, the ERD token will no longer be in use. Elrond plans to migrate to a new token called eGLD token. The plan is to reduce the current issuance of 20 billion eGLD down to 20 million. This will happen over the course of 10 years. Wherefore, the supply will gradually decrease by 10.8% until there is no new eGLD (in the 11th year). > ***Money was never about money; it was always about time. Money was humanity’s best attempt to make fungible something that fundamentally is not; our time. By improving every important aspect of money, we are giving you back control over your time.* – Elrond co-founder and CEO Beniamin Mincu** This type of tokenomics model by Elron embraces scarcity. Therefore, should as a result increase the value of ERD token. Likewise, the new model will make ERD function more like a resource such as gold or silver. This is due to it having a fixed total supply, hence the name change to eGLD token. Stay safe and trade well. ### What is Elrond Blockchain? URL: https://dexplain.com/what-is-elrond-blockchain/ Last updated: 2026-07-17T16:37:45.000Z > **Editor's note (2026 update):** Elrond rebranded to [MultiversX](https://dexplain.com/what-is-multiversx-egld-formerly-elrond-review-2026-draft/) in late 2022\. For the current project, how the network works today, and where the EGLD token stands, see our updated review: [What is MultiversX (formerly Elrond)?](https://dexplain.com/what-is-multiversx-egld-formerly-elrond-review-2026-draft/) What is Elrond blockchain? A high-throughput public network built to provide unlimited scalability and unparalleled efficiency. Built with an entirely new architecture it combines a secure Proof-of-Stake (PoS) algorithm with the so-called **Adaptive State Sharding** mechanism. Elrond can process over 10,000 transactions per second at a low cost along with a 5-second latency. After quickly gaining popularity as one of the first projects to raise funds via [Binance Launchpad](https://www.binance.com/en/register?ref=LFVOTBVO). In this article, we will answer the question of what is Elrond blockchain? Furthermore, we will look at the eGLD token usage. Elrond is emerging as a promising projects to solve problems that have been major bottlenecks for various cryptocurrency projects. Along with causing painful headaches for their users. Firstly, the lack of interoperability between blockchains. Secondly, the network congestion problems, rising transaction fees and high confirmation times. Where many smart contract capable chains have simply copied [Ethereum](https://dexplain.com/tag/ethereum) and inherited the same problems, the team behind eGLD token has redesigned blockchain architecture from scratch to bring numerous improvements on speed and cost – notably the ability to do parallel transaction processing. ![](https://dexplain.com/content/images/2021/11/image-13.png) > *A highly scalable, fast, and secure blockchain platform for distributed apps, enterprise use cases, and the new internet economy.* ## **What is Elrond Blockchain?** The platform aims to become a network that ensures high throughput, fast transaction speed, and low transaction costs. Allowing, developers to deploy dApps efficiently as possible along with having a competitive edge to answer real-world use cases. Elrond believes their platform will be suited for machine-to-machine transactions and the Internet of Things (IoT) economy. The platform is aiming to become the backbone of the open, unlimited, borderless, and globally accessible digital economy. The team is a group of individuals from entrepreneurial and technical backgrounds. Many who have previously worked at Google, Microsoft, Intel and were part of the NEM blockchain platform. > ***The Internet Scale Blockchain.*** ![](https://dexplain.com/content/images/2021/11/image-14.png) Internet of Things (IoT) ## **Adaptive State Sharding** You cannot review the Elrond blockchain without mentioning their innovative approach to creating a consensus algorithm that brings unlimited scalability. From a technical perspective, ERD stands apart from numerous other blockchain projects simply because of its approach to [sharding](https://dexplain.com/why-do-so-many-blockchains-rely-on-sharding-for-scalability/). Adaptive State Sharding is a sharding protocol invented by Elrond. Essentially, it is network sharding, transaction sharding, and state sharding – all wrapped up together in one cohesive unit. The idea is that by combining all three, Elrond can scale efficiently to demand while also ensuring no down-times. Additionally, Elrond’s approach allows for instant traceability among the shards meaning they eliminate many communications rounds. That we still see in traditional approaches to sharding data. To summarize, Elrond’s unique approach can do it faster while making the protocol remain increasingly decentralized as more nodes join the network. ![](https://dexplain.com/content/images/2021/11/image-15.png) Secure nodes via Staking eGLD ## **Secure-Proof-of-Stake (SPoS) in Elrond Blockchain** One of the main attractions to using blockchain technology is security. Namely, that you can not tamper with the ledger. The problem of using the correct consensus algorithm is an issue that many blockchain projects are still figuring out. [Proof-of-Work (PoW)](https://coinrivet.com/guides/what-are-blockchain-consensus-protocols/what-is-proof-of-work/?ref=dexplain.com) consensus though more secure to attack vectors, is slower and more energy-intensive. Proof-of-Stake (PoS) facilitates the high-throughout put required for real-world applications but is more centralized. Elrond blockchain addresses these issues with their Secure-Proof-of-Stake (SPoS) consensus algorithm. The main difference to PoS is the introduction of using a randomness source that is not predictable or influenceable. The fast and absolute random nature of the validator selection process makes the protocol remain secure. Furthermore, each validator has a rating score. Thus incentivizing their operators to keep their node’s up-time high or risk lowering their rating. ![](https://dexplain.com/content/images/2021/11/image-16.png) eGLD token logo ## **How is eGLD token used on the platform?** Once deployed to their mainnet, the main use cases for eGLD token will be the following: - Pay for transactions and storage fees for using the network. - Used by developers when deploying dApps. - Rewards for contributions to grow the ecosystem and for SPoS validators - Used when interacting with a smart contract. - To participate in the blockchain’s consensus algorithm (Staking). - Voting and on-chain governance (in the future). ## **Mainnet Launch: Zero to One** ![](https://dexplain.com/content/images/2021/11/image-17.png) Elrond Testnet: Zero to One. Elrond mainnet launched successfully on 30th July 2020, dubbed by their CEO Beniamin Mincu as Zero to One. After a very successful testnet, eGLD holders are looking forward to the project’s promising future. For example, the Genesis Staking Program (to bootstrap a successful mainnet launch) was sold out within 4 hours. That meant investors staked 1.12 billion eGLD tokens in under 4 hours – an incredible feat. Just take a look at this amazing list of key partners: - [Swingby](https://swingby.network/en?ref=dexplain.com) – cross-chain liquidity for inter blockchain asset swaps. Essentially, means Elrond will be able to access the growing DeFi ecosystem’s liquidity on Ethereum from launch. - [Ankr](https://ankr.com/?ref=dexplain.com) – deploying validator nodes will be easy thanks to Elrond’s partnership with Ankr a blockchain cloud infrastructure provider. - [Decentralized Finance](https://dexplain.com/tag/defi) – work with ORION and also DFinance to build innovative DeFi tools that will use Elrond native assets. - [Swipe](https://dexplain.com/tag/swipe) – eGLD token is spendable directly from VISA cards with over 60 million merchants thanks to Swipe. The eGLD token is available for purchase by over 500,000 registered swipe users. - [ARPA](https://arpachain.io/?ref=dexplain.com) – Appetite is also growing for privacy coins across the industry, Elrond will allow privacy-preserving smart contracts via ARPA. - Staking services – staking is important for any PoS chains, users need to be able to stake. Several partnerships to achieve just that: Just Mining, Helios Staking, ViaStake, StakeDAO, Staking Agency, and more. - [Binance](https://dexplain.com/tag/binance-exchange) – Binance Labs is one of Elrond’s early backers. They plan to use the platform to leverage fast and inexpensive $BUSD stablecoin transfers. - Samsung – Elrond’s gaming app known as Battle of Elrond is featured in the Samsung Galaxy Store. The eGLD token is available in the native Samsung blockchain wallet. ## **Final Thoughts** There should not be any concerns over the fundamentals or technical capabilities of Elrond – they are more than great. The platform is developer-friendly, supporting multiple programming languages: Solidity, C, C++, and Rust. The team has also spent considerable time building relationships and partnerships. Thereby, making the positive growth potential for eGLD look amazing given the network has numerous use cases. There is also a strong and vibrant community behind the project. With the [mainnet now launched and live](https://dexplain.com/elrond-launches-mainnet-with-new-app-maiar-and-enhanced-token-model/), we will truly see if this is Elrond’s time to shine. Because, there should be only one concern: competition in this category of blockchain tech is very fierce. The scalability sector of cryptocurrency needs innovation and a push forward. Many projects are all gunning to achieve the same goals: Ethereum, Algorand, Zilliqa, Kadena, Harmony, EOS, PChain, Quarkchain. In brief, market over-saturation could be a problem. The [Altcoin](https://dexplain.com/tag/altcoins) project that is the clear winner will pick up large size of the overall crypto market. Furthermore, it will cement itself as a blockchain here to stay. There is no reason why this can not be Elrond, which is why I will follow eGLD token’s launch closely. Stay safe and trade well. ### A week in Algorand: All we do is win? URL: https://dexplain.com/a-week-in-algorand-all-we-do-is-win/ Last updated: 2021-12-01T10:22:41.000Z Looking at the past week in [Algorand](https://www.algorand.com/?ref=dexplain.com), it is hard to find anything negative. As they dove into the [DeFi sector](https://dexplain.com/tag/defi), the team executed a spree of positive announcements. Along with new releases, timed down to perfection. However, if you somehow did miss the onslaught of bullish news. Well, Algorand investors ran around the crypto twitter explaining how comfy their ALGO position was feeling. If you have been living under a rock at the end of August. Let us break it down for you and recap on ALGO’s recent boom. ## Algorand’s 6 step August boom plan 1. Rolls out a fresh set of smart contract functionalities ([Algorand stateful smart contracts](https://www.coindesk.com/algorand-stateful-smart-contracts?ref=dexplain.com)). Intended to aggressively enter the DeFi sector and latch onto the market’s summer appetite for DeFi tokens. 2. [Rekeying feature announced](https://twitter.com/Algorand/status/1297892140379525121?ref=dexplain.com), allows users to change their PRIVATE KEY without the need of changing their public address. This is a game-changing feature in terms of security, scared you got hacked? Change your private key. 3. Randlabs’ [TEAL ALGO Oracle](https://twitter.com/pipaman/status/1298282480873746432?ref=dexplain.com) deployed and running on mainnet. Integral feature for launching DeFi apps with decentralized pricing calculation. 4. [AlgoSigner available](https://twitter.com/purestakeco/status/1298976697770029056?ref=dexplain.com). Essentially this is Algorand’s first wallet extension. Which is a huge milestone for wider adoption as this is their version of MetaMask. 5. Partners with [UK based exchange Archax](https://cointelegraph.com/news/uk-exchange-archax-teams-up-with-algorand-on-defi-projects?ref=dexplain.com) to build DeFi products. Archax has an operational license U.K.’s Financial Conduct Authority and will list ALGO for trading. 6. Teams such as PlanetWatch are already [migrating to Algorand mainnet](https://twitter.com/Algorand/status/1299332105927884802?ref=dexplain.com) for the benefit of speed and scalability. ### Looking to the future All of this news is extremely positive for Algorand. As a result, it has brought a lot of new attention to the platform. In addition, ALGO is now trading up by +59.2% over the last 30 days. Given that the new wallet unlocks more projects to migrate to using their mainnet. Above all, their first DeFi products look to bring together [centralized and decentralized finance](https://dexplain.com/what-is-akropolis-a-look-at-defi-apps-sparta-and-delphi/), while following regulations. Ultimately, ALGO’s long term future looks increasingly bullish. ### Lamden Mainnet Launch is Around the Corner URL: https://dexplain.com/lamden-mainnet-launch-is-around-the-corner/ Last updated: 2021-12-01T10:20:18.000Z Lamden, known as *The Python Blockchain*, mainnet launch is just around the corner, on [the 16th of September](https://lamden.io/?ref=dexplain.com). Lamden aims to provide the ultimate developer-friendly platform, along with the [scalability](https://dexplain.com/why-do-so-many-blockchains-rely-on-sharding-for-scalability/) to meet today’s demand for on-chain transactions. The outcome is a network that features parallel processing of transactions, enabling a high throughput of up to 1000x faster than [Ethereum](https://dexplain.com/tag/ethereum). Wrapped up in the programming simplicity that is Python. ![](https://dexplain.com/content/images/2021/12/Lamden-mainnet-launch-is-around-the-corner.webp) ## Python on Blockchain? Lamden has been designed to be a very performant blockchain, however, the entry barrier for a developer is extremely low. Because of the Python-based smart contract language called **Contracting**, developers can build using their existing Python IDE (tools). Meaning they can enter [blockchain](https://dexplain.com/tag/blockchain) without the need to learn new software or change their dev environment. You can build your frontend in any major language and it will be able to interact with the Lamden blockchain. **Zoom in:** during the initial launch phase 90% of transaction fees processed by a developer’s dApp will go straight into the dev’s wallet. A massive attraction for building on Lamden, which will surely create a whole ecosystem of dApps fairly quickly. - The market is reacting very positively to Lamden’s mainnet launch, with TAU up **by over 270%** over the last 30 days. **Zoom out:** one thing that is missing for Lamden is a high volume exchange for TAU. Along with some high profile collaboration proposals with other teams perhaps in the [DeFi](https://dexplain.com/tag/defi) sector? I would recommend checking out their [team telegram AMA](https://twitter.com/LamdenTau/status/1299386177619976194?ref=dexplain.com) on September 2nd. As with [the mainnet launch](https://dexplain.com/six-crypto-mainnet-launches-and-hard-forks-to-watch/) imminent, it would be a great time to make some new announcements. ### Elrond’s Mainnet Token Swap is Ready, ERD is moving to EGLD URL: https://dexplain.com/elronds-mainnet-token-swap-is-ready-erd-is-moving-to-egld/ Last updated: 2026-07-17T16:37:48.000Z > **Editor's note (2026 update):** Elrond rebranded to [MultiversX](https://dexplain.com/what-is-multiversx-egld-formerly-elrond-review-2026-draft/) in late 2022\. For the current project, how the network works today, and where the EGLD token stands, see our updated review: [What is MultiversX (formerly Elrond)?](https://dexplain.com/what-is-multiversx-egld-formerly-elrond-review-2026-draft/) After the successful [Elrond mainnet launch](https://dexplain.com/elrond-launches-mainnet-with-new-app-maiar-and-enhanced-token-model/), the team is now ready to start the mainnet token swap from ERD to eGLD. This is an important step for the future of [Elrond’s ecosystem](https://dexplain.com/what-is-elrond-erd-blockchain/), which has already been breaking down adoption barriers through the release of their mobile wallet [Maiar](https://dexplain.com/tag/maiar). As it puts in place a new economic model, with a design for long term sustainability, adoption, and growth. It is also the natural step forward for enabling native mainnet services such as staking, delegation, and [DeFi](https://dexplain.com/tag/defi) protocols. ![](https://dexplain.com/content/images/2021/12/adoption-increases-scarcity.webp) ### Elrond aims for global adoption with EGLD [Bitcoin](https://dexplain.com/tag/bitcoin) and [Ethereum](https://dexplain.com/tag/ethereum) are complex to explain to people who have never heard of cryptocurrency. With eGold, Elrond has taken a token name that is universally appealing and understandable from day one. To keep it short, everyone knows that gold is a valuable asset. Furthermore, eGLD’s tokenomics will enforce scarcity and drive demand. 1. The initial eGLD genesis supply is 20 Million. 2. New issuance of eGLD will happen for 10 years with a fixed cap. Meaning, there is a theoretical total supply of 31.4M 3. The theoretical total supply will probably never be reached! **Sorry, come again?** The platform has staking incentives for validators to secure the Elrond network. At first, these rewards will use the new issuance of eGLD tokens. However, as adoption grows staking reward payments will be offset with **paid transaction fees**. As a result, the tokenomics design makes eGLD even more scarce. It also provides an in-built incentive for everyone in the ecosystem to drive the global adoption of Elrond. - The token swap will start on September 3rd, it will happen automatically via [Binance](https://dexplain.com/tag/binance-exchange). Alternatively, you will be able to use the [Elrond swap bridge](https://elrond.com/?ref=dexplain.com). **Looking to the future…** Time of writing, the market has reacted positively to the upcoming [token swap](https://dexplain.com/ocean-protocol-completes-token-swap/) with the price of ERD jumping immediately by over 20%. Recently, Elrond announced various fiat on/off ramps for eGLD powered by [Mercuryo](https://mercuryo.io/?ref=dexplain.com) and [Changelly](https://changelly.com/?ref=dexplain.com) which will make it even easier to buy, or enter the game begin, as CEO Beniamin Mincu likes to say. > Let the massive multiplayer financial game begin.CEO Beniamin Mincu Given the token’s economic model, as more and more people access Maiar and enter the ecosystem, it all translates into direct pressure on eGLD for the price to go up. Expect movement! ### Bitcoin Volatility about to Spike as 66k BTC Options Expire? URL: https://dexplain.com/bitcoin-volatility-about-to-spike-as-66k-btc-options-expire/ Last updated: 2021-12-01T10:11:56.000Z Today the Bitcoin options market is due for a massive expiry, worth over **66,000 Bitcoin**. According to data by [Skew](https://analytics.skew.com/dashboard/bitcoin-options?ref=dexplain.com), the bitcoin open interest is now over $2 billion which means it has grown sixfold since the start of 2020\. Many traders believe the rapid growth will eventually lead to an extreme price impact. ![](https://dexplain.com/content/images/2021/12/skew_btc_options_open_interest_by_expiry_k.webp) ## Over 66,000 BTC options due to expire While the Bitcoin futures and options expiry is not as large as [June’s 114,700 BTC expiry](https://www.thecryptoassociate.com/colossal-1-billion-bitcoin-options-expiry-looms-as-bitcoin-falls/?ref=dexplain.com), you should still brace yourself for market volatility. Many crypto traders believe that the expiration on the last Friday of every month, puts negative pressure on the price of BTC. **Zoom in:** Almost 60% of the calls are expected to expire worthlessly, meaning the call option’s strike price is higher than the market price. This should drastically reduce any [negative market pressure](https://dexplain.com/what-is-bitcoin-dominance/). - Option settlements always have a specific time. The Chicago Mercantile Exchange (CME) occurs at 8:00 am UTC, while in Deribit and OKEx at 3:00 pm UTC. **Zoom out:** Most crypto traders expect higher volatility entering the weekend due to lower trading volumes. Add in the end of the month expiry date, and you have a recipe for major price movement with an already nervous market. In short, this is not a weekend to forget your stop losses. You have been warned! ### Ankr announces new Stkr Protocol, combines DeFi and Staking URL: https://dexplain.com/ankr-announces-new-stkr-protocol-combines-defi-and-staking/ Last updated: 2021-12-01T09:59:36.000Z Recently [Ankr introduced us](https://medium.com/ankr-network/stkr-by-ankr-staking-reimagined-4b12d7a3864f?ref=dexplain.com) to a new decentralized staking protocol called Stkr. One that promises to break down barriers, increase adoption, and change staking forever. Stkr is a platform that aims to combine traditional staking services with elements from the growing DeFi ecosystem. Such as micropools, decentralized governance, and being non-custodial. ### Staking made simple Ankr is already removing all the entry barriers in the node hosting world. Currently, they offer one-click node deployment solutions that anyone can use. Given that many of the networks they support offer [staking for consensus](https://dexplain.com/cold-staking-and-privacy-focused-defi-coming-to-qtum/), it seems logical to launch a staking service in parallel. On launch, the plan is to support Ethereum 2.0, Polkadot, Binance Smart Chain, EOS, and Cosmos. **Massive growth potential:** it seems to be a no brainer that any Proof-of-Stake blockchain, or variant, will be clamoring to collaborate with Ankr. Stkr protocol could easily become a user favorite for secure staking, meaning teams will want to offer it to their communities. ![](https://dexplain.com/content/images/2021/12/triple-staking-stkr.webp) - Important to note, Stkr is not a new token, this is a new product by Ankr. And ANKR tokens will be integral: from using the platform, governance, and earning rewards. Details of the tokenomics and rewards are not yet known (we will follow up!). **Not so fast…** isn’t the competition fierce? There are indeed [many coin staking](https://dexplain.com/swipe-network-launches-staking-with-12-apr/) services offered by exchanges. They are easy for users to access and generally have no financial barriers, but they are not decentralized. So far the closest competitor would be [Rocket Pool](https://www.rocketpool.net/?ref=dexplain.com), and while they have a big following, their focus is on building ETH 2.0 staking pools. Stkr is in a prime position to capture new users and a growing market! ### Cross-chain DeFi about to explode? Polkadot to Ethereum bridge URL: https://dexplain.com/cross-chain-defi-about-to-explode-polkadot-to-ethereum-bridge/ Last updated: 2021-12-01T10:10:01.000Z [Polkadot](https://dexplain.com/tag/polkadot) may soon be tapping into [Ethereum’s](https://dexplain.com/tag/ethereum) DeFi billions with a cross-chain bridge. A new project building on Polkadot wants to enable smart contracts on Ethereum to directly interact with Polkadot’s ecosystem and vice-versa. [Snowfork](http://www.snowfork.com/?ref=dexplain.com) aims to create a bridge that will let users trustlessly transfer tokens, loans, derivatives, or any other asset between the two networks. ### A catalyst moment for wider DeFi adoption? Many analysts believe [blockchains](https://dexplain.com/tag/blockchain) that can interact with each other easily are the future. Hundreds of crypto project have several pages of their roadmap dedicated to creating interoperability. Ideally, it can lead to the development of DeFi protocols on separate networks that can read data from one another. For example, you could take out a loan on [Aave](https://dexplain.com/aave-protocol-overtakes-maker-with-over-1-5-billion-locked/) but then repay it in Polkadot’s DeFi ecosystem, perhaps (in the future!) via [Akropolis](https://dexplain.com/what-is-akropolis-a-look-at-defi-apps-sparta-and-delphi/). **Understanding the value…** Most interoperability solutions focus on moving tokens from one blockchain to another. The Snowfork bridge has a unique angle that many teams have not yet attempted for cross-chain bridges. They aim to also enable the transfer of loans, non-fungible tokens, derivative contracts, and any other asset. This means DeFi users could easily jump from one protocol to another, no matter the platform or network. - The new ecosystem of Polkadot builders, such as [Ankr](https://dexplain.com/ankr-announces-new-stkr-protocol-combines-defi-and-staking/) or [Dock](https://dexplain.com/all-eyes-on-docks-poa-mainnet-launch/), stands to benefit immensely from Ethereum’s billions of dollars in permissionless liquidity. **Zoom out:** The Snowfork team has not yet released a proof of concept, but this should be coming mid-September. If successfully, the final release of the bridge is scheduled for **March 2021**. Keep your eyes peeled for announcements! ### What is Akropolis? A look at DeFi apps Sparta and Delphi URL: https://dexplain.com/what-is-akropolis-a-look-at-defi-apps-sparta-and-delphi/ Last updated: 2021-12-01T10:07:44.000Z Akropolis builds tools for easy access to decentralized and autonomous community economies. Its mission is to ensure anyone anywhere can save, grow, and provision for the future without relying on any traditional financial systems. As a result, the team has launched several products in the [DeFi sector](https://dexplain.com/tag/defi) that combine various investing strategies such as Dollar Cost Averaging, liquidity mining, and passive interest earning. Here we will take a look at Akropolis as a whole, along with their DeFi applications: Sparta and Delphi. ## What is Akropolis? Deeper dive. The project was first launched in 2018 as a protocol that would save thousands from the global pension crisis. Akropolis announced it would unite [blockchain](https://dexplain.com/tag/blockchain) technology with pension saving to eliminate inefficiencies while increasing transparency. In July 2019, the team conducted an initial token offering via Huobi which raised $2.4M selling 320 million AKRO tokens. Since then the project has evolved well beyond the initial goals of focusing on pensions, and now aims to cement itself as a user favorite DeFi portal for all types of savings. The founder and CEO, [Ana Andrianova](https://twitter.com/ana%5Fandrianova?ref=dexplain.com), is a former institutional fund manager and Web3 foundation advisor. The team has also contributed heavily to the growing [Polkadot ecosystem](https://dexplain.com/all-eyes-on-docks-poa-mainnet-launch/), making a lot of their code open source such as a [staking portal](https://github.com/akropolisio/staking-portal?ref=dexplain.com) and cross chain [bridge](https://github.com/akropolisio/erc20-substrate-bridge?ref=dexplain.com). ## Products built on Akropolis We currently find three main products part of the Akropolis ecosystem: AkropolisOS, Sparta, and Delphi. ### AkropolisOS A solidity framework for creating for-profit DAOs, allowing communities to easily monetize their ideas and assets. AkropolisOS is highly customizable, allowing people to innovate and design their own user incentives. It features automated liquidity provision, trustless treasury management, and programmatic liquidity. The design provides developers with a great background for building complex DeFi protocols with use cases such as pensions, savings, loans, or investments. Both DeFi apps **Sparta** and **Delphi** use AkropolisOS. ![](https://dexplain.com/content/images/2021/12/sparta.webp) ### What is Sparta? Akropolis’s first released product is Sparta, a community-owned fund that allows taking out undercollateralized loans. This is unique compared to other lending protocols, as most require loans to be over-collateralized. Other pool members put up the remaining collateral of the loan, with an incentive of earning a percentage of the interest. It also features a yield rebalancer to ensure users get the highest available APR across different DeFi protocols. ### What is Delphi? Delphi is what you would call a one-stop-shop for yield farming, savings, and Dollar Cost Averaging into ETH or BTC. The idea is to make it easy for users to automate several DeFi actions and find the best opportunities. On the new platform, you can find a curated list of liquidity mining opportunities across DeFi. ![](https://dexplain.com/content/images/2021/12/delphi-options.webp) Furthermore, we find a clean and simple UI that non-technical users can follow. There are three investment options: Savings, Investments, and DCA. Everything on the UI uses terminology that can onboard people who are not familiar with [Ethereum](https://dexplain.com/tag/ethereum) or cryptocurrency. So users just choose their options depending on how much risk they would like to take. - Note that Akropolis’s roadmap indicates they intend to build a fiat to DeFi onramp gateway also. This type of feature could bring an explosion of worldwide adoption for Delphi, and Akropolis! ## Tokenomics: AKRO, ADEL, ASPT Now, this is where the project dives into the complicated. We find three tokens in the tokenomics of Akropolis. All of them are ERC-20 tokens on Ethereum. **AKRO** is the ecosystem’s governance token for voting on protocol parameters similar to MKR or COMP. AKRO is also the token with the most trading volume, as you find it on exchanges such as [Binance](https://dexplain.com/tag/binance-exchange). **ASPT** is the utility token of Sparta, you need to hold ASPT if you would like to apply for an under collateralized loan as you have to pledge 50% of the loan amount in ASPT tokens. Every time stablecoins are deposited or withdrawn from Sparta, ASPT is minted or burned, as a result, the value of ASPT is tied to the value of the assets held in the DAO. Lastly, **ADEL** is the token associated with the Delphi product. ADEL is a governance token which you can compare to YFI or BAL. Distribution will be as rewards to liquidity providers of the protocol, granting them governance rights over the platform. ## Looking to the future? AKRO the ecosystem’s main token, currently has a market cap of **$56M**, whereas, overall the [DeFi sector is valued](https://defipulse.com/?ref=dexplain.com) at over **$7B**.Andthere are several exciting features on Akropolis roadmap, which open up new possibilities for growth and adoption: - Connect your debit card - Fiat on/off ramp - More stablecoin support (USDT, USDC, and TUSD). - Downside protection on deposits (insurance). Furthermore, the team has shown willingness to embrace new networks shown by their work in the Polkadot ecosystem. Meaning Akropolis could be deployed onto different smart contract capable platforms such as [Elrond](https://dexplain.com/elrond-launches-mainnet-with-new-app-maiar-and-enhanced-token-model/), [Qtum](https://dexplain.com/cold-staking-and-privacy-focused-defi-coming-to-qtum/), or [Blockstack](https://dexplain.com/what-is-blockstack-stx-token-review/). ### Aave Protocol overtakes Maker with over $1.5 Billion locked URL: https://dexplain.com/aave-protocol-overtakes-maker-with-over-1-5-billion-locked/ Last updated: 2021-12-01T10:02:06.000Z As of writing the lending and borrowing platform, Aave has over $1.5 billion locked. The protocol has now surpassed [Maker DAO](https://dexplain.com/binance-lists-maker-mkr-and-dai-more-defi-tokens-enter-cefi/) in total-value-locked, who has long been holding DeFi’s number one spot. In fact, the amount of money locked up in [Aave](https://aave.com/?ref=dexplain.com) has doubled in the short span of two weeks. ## Electronic Money License for DeFi Fiat Onramps One reason why [DeFi](https://dexplain.com/tag/defi) users are preferring to turn to the newer platform over Maker is that Aave is constantly adding new features. On August 24th, the team confirmed they now have an Electronic Money License (EMI) for its UK business entity. The license enables Aave to build fiat onboarding capabilities for its users within the UK. Only **two other companies** hold this type of license: Coinbase and Revolut. Meaning Aave is now part of the select few. ### Why is this a big deal? Aave will be using the license to pilot a new service, which will focus on making it easier to onboard new users into cryptocurrency. For example, users can buy stablecoins or other crypto assets directly [with fiat using their bank cards](https://dexplain.com/how-to-buy-ethereum-with-a-credit-card-on-binance/). Which they can then use immediately in the Aave ecosystem. If the service works well then you can expect them to expand it into Europe and then globally. Essentially, Aave is cementing itself as the most rapidly-growing DeFi protocol of 2020. As of writing the lending and borrowing platform, Aave has over $1.5 billion locked. The protocol has now surpassed [Maker DAO](https://dexplain.com/binance-lists-maker-mkr-and-dai-more-defi-tokens-enter-cefi/) in total-value-locked, who has long been holding DeFi’s number one spot. In fact, the amount of money locked up in [Aave](https://aave.com/?ref=dexplain.com) has doubled in the short span of two weeks. ![](https://dexplain.com/content/images/2021/12/aave-top-spot.webp) **The icing on the cake…** the industry was already beyond excited after Aave revealed features of V2, namely, the gas optimizations and collateral trading. Now to hear there will be fiat onramps shows that the team is ready to continue pushing DeFi beyond its limits. **The future:** Aave will soon go through a token swap from LEND to AAVE, which will also launch a new era of ecosystem incentives. Meaning users who help the protocol stay secure and grow will receive rewards. Long story short, Aave Protocol is not slowing down anytime soon. ### Fetch.ai first token on Bitfinex’s new Catalyst Sale URL: https://dexplain.com/fetch-ai-first-token-on-bitfinexs-new-catalyst-sale/ Last updated: 2021-12-01T09:57:03.000Z Fetch.ai will be the first project to feature on Bitfinex’s new [Catalyst Token Sale](https://tokensales.bitfinex.com/token-sale/5f3a634febcd1c2523c0a198/Fetch?ref=dexplain.com). When the event starts on the 27th of August, 1,000,000 FET tokens will be sold at spot price. This is a first-come, first-serve token sale with successful participants receiving an additional FET bonus of 50%. And one of the first products powered by Fetch.ai just launched: Mettalex. ### Mettalex is here [Mettalex](https://mettalex.com/?ref=dexplain.com) is a decentralized crypto and commodities derivatives trading platform, powered by Fetch. The project aims to tokenize the $2.5 trillion commodities market. And starting September 1st, the first one million MTLX tokens will be allocated to FET holders. Meaning this is a great time to discover Fetch! ### What is Fetch.ai? [Fetch.ai](https://fetch.ai/?ref=dexplain.com) aims to become a core part of the new autonomous economy, the one powered by artificial intelligence. Essentially, Fetch is a decentralized machine learning network that works to improve and expand economic activity. This means the software can deliver actionable predictions, generate powerful collaborative models, pinpoint inefficiencies and streamline processes – all on its own. Furthermore, the software is open-source allowing any organization to build on top of it. - A deep team of AI experts, CEO Humayun Sheikh and CTO Toby Simpson both worked extensively on **Google DeepMind** before starting Fetch. **Numerous use cases:** Fetch collaborates with universities such as Cambridge University or Imperial College London. To demonstrate how their autonomous agents can reduce costs in various sectors: manufacturing, commodities, supply chain, telecommunications, energy reduction, and more. **Looking to the future:** We have here a UK based [cryptocurrency project](https://dexplain.com/tag/project-review) that is successfully building AI tech while showcasing its uses and profitability on a global scale. Fetch has a small market cap under $100 million. Whereas, the world’s AI sector has an estimated value of over $20 billion. Just recently, they signed a partnership to [bring machine learning to Waves](https://medium.com/wavesprotocol/fetch-ai-partners-with-waves-to-bring-machine-learning-to-more-chains-via-the-gravity-protocol-cd9418669310?ref=dexplain.com) – the future looks promising. ### How to set up your 1 Hour Chart URL: https://dexplain.com/how-to-set-up-your-1-hour-chart/ Last updated: 2022-11-14T22:03:28.000Z In a previous article, we looked at the [best crypto indicators for day trading using a 1 hour chart](https://dexplain.com/best-crypto-indicators-for-1-hour-trading-strategy/). In this binance trading tutorial we will learn how to set up your trading interface to best suit a 1 hour chart trade strategy. Meaning we will learn how to display the RSI and MACD indicators. It can be a little tricky to navigate a new exchange interface, especially if you’re a beginner. In this binance trading guide, we will go step by step with screenshots. Do not worry though, from our experience, most cryptocurrency exchanges follow a very similar user interface. Consequently, you can apply this tutorial to any alternative crypto trading platform. For trading Bitcoin, Ethereum or other Altcoins off an hourly chart, I would recommend using a centralized exchange. Reason being that you need to ensure there is sufficient volume and trade activity to see regular price movements. Decentralized exchanges have definitely been growing steadily on the [Ethereum](https://dexplain.com/tag/ethereum) network. But, as our 1 hour chart trade strategy will most likely result in numerous trades. We do not want to be penalized by network congestion or high transaction fees. There are, of course, ways to negate this and successfully make profitable trades on a [decentralized exchange](https://dexplain.com/tag/decentralized-exchange) using an hourly trade strategy. However, this is something we will cover in future articles. ## **Binance Trading Tutorial: 1 Hour Chart** We will look at setting up your 1 hour chart on Binance, don’t worry if you are already using a different exchange to trade. Most platforms all have the same functionality so you can still follow this trading tutorial. Also if you do not have a crypto trading account setup anywhere yet, make sure you read through [our step by step guide of buying ETH (or other cryptos)](https://dexplain.com/how-to-buy-ethereum-with-a-credit-card-on-binance/) instantly with a credit or debit card. ### ****Why do we recommend Binance?** Binance is a great way to get started as they offer over 500 different trading pairs, along with an intuitive novice friendly interface. You can sign up on the Binance trading platform for free. They offer various ways to buy Ethereum with fiat currencies. Meaning, you can be ready to follow our binance [trading tutorials](https://dexplain.com/tag/crypto-trading/) within minutes. ***Make sure you sign up with [our referral link](https://www.binance.com/en/register?ref=X8XUVA60) to receive 10% rebates on your trading fees!** [Crypto Exchanges: Where To Sign Up?Which cryptocurrency exchange should I use? List of best platforms for trading crypto on spot or futures: Bybit, Delta, Binance, and KuCoin.![](https://dexplain.com/content/images/size/w256h256/2021/12/dexplain-brain-2-1.png)Decentralized Explained | dExplainmf\_reason![](https://images.unsplash.com/photo-1640340434855-6084b1f4901c?crop=entropy&cs=tinysrgb&fit=max&fm=jpg&ixid=MnwxMTc3M3wwfDF8c2VhcmNofDUyfHxleGNoYW5nZXN8ZW58MHx8fHwxNjQyNjEyNTA2&ixlib=rb-1.2.1&q=80&w=2000)](https://dexplain.com/crypto-exchanges-where-to-sign-up/) Once you have created your trading account, decide and open the market you have decided to trade. To keep things easier to manage(and calculate future profit!), I would recommend trading on a stablecoin market pair such as ****BTC/USDT** or ****ETH/USDT**. First you will need to change the view to ***Advanced**, as this will allow you to have access to all of the indicators. You then need to change your chart to use ***TradingView** instead of Binance’s own charting tools. We are now ready to learn how to set up your 1 hour chart. If you get lost you can follow this screenshot: ![](https://dexplain.com/content/images/2021/11/image-9.png) Once you have the chart being generated by ***TradingView**, you just need to add your ****RSI** and ****MACD** indicator. You do this by clicking on the indicators icon just above the chart and searching for your desired indicator. Here is another screenshot you can follow: ![](https://dexplain.com/content/images/2021/11/image-10.png) Once you have added both indicators, then you need to set your chart to display the trading data using the 1 hour chart time frame. Now you are ready to move on to the last step of this binance trading tutorial for setting up your 1 hour chart. To do this you just click on the time dropdown menu and select ****1H**. Here is a screenshot highlighting where to click: ![](https://dexplain.com/content/images/2021/11/image-11.png) ****All done!** I will be covering more indicators and how to use them on popular crypto markets in the future. If you enjoyed this tutorial, check out our follow up covering [Stop Limit Orders](https://dexplain.com/what-is-a-stop-limit-order/). Be sure to create an account on the website to comment, and let me know what type of indicators you are successfully using for your [cryptocurrency](https://dexplain.com/tag/cryptocurrency) day trading strategies. Take care and trade well. ### Endless Bullish News for Swipe URL: https://dexplain.com/endless-bullish-news-for-swipe/ Last updated: 2021-11-30T11:02:57.000Z ## Newsletter #1 ****Start of the week!** Welcome to our first newsletter, moving forward we plan to send one out Monday, Wednesday, Friday. We will cover a wide range of cryptocurrency news to keep you up to date with market trends, along with analysis and our opinion. If you like the format let us know by sharing with your friends. Enjoy reading! --- [dExplain - Private Site Access![](https://dexplain.com/favicon.ico)Private Site Access](https://dexplain.com/metal-pay-acquires-block-explorer-bloks-io/) [dExplain - Private Site Access![](https://dexplain.com/favicon.ico)Private Site Access](https://dexplain.com/all-eyes-on-docks-poa-mainnet-launch/) [dExplain - Private Site Access![](https://dexplain.com/favicon.ico)Private Site Access](https://dexplain.com/swipe-network-launches-staking-with-12-apr/) [dExplain - Private Site Access![](https://dexplain.com/favicon.ico)Private Site Access](https://dexplain.com/ocean-protocol-completes-token-swap/) --- ## **Also take note** - ****Qtum Hard Fork**: Upcoming [Qtum mainnet hard fork](https://dexplain.com/cold-staking-and-privacy-focused-defi-coming-to-qtum/) is scheduled to happen on the 28th August, which will enable Cold Staking. Qtum recently announced an aggressive move into the DeFi ecosystem. - ****Augur Roadmap update**: REP has been trending upwards since the launch of Augur v2 and now the team has published [part 2 of their Master Plan](https://augur.net/blog/master-plan-part-2/?ref=dexplain.com). - ****Elrond Token Swap**: During September, [ERD will migrate to the new](https://dexplain.com/elrond-launches-mainnet-with-new-app-maiar-and-enhanced-token-model/) eGLD token. Along with Bitfinex exchange listing, more Maiar users, and potentially new announcements at the Brands Minds 2020 summit. - ****0xProject:** Team 0x launched a new p2p exchange called [Matcha](https://matcha.xyz/?ref=dexplain.com) in June. DEXs with off chain orderbooks and layer 2 scaling solutions such as Loopring are doing great due to the Ethereum network costs. Evidenced by LRC recent price trends, we expect ZRX to soon follow the trend. ### Metal Pay acquires block explorer Bloks.io URL: https://dexplain.com/metal-pay-acquires-block-explorer-bloks-io/ Last updated: 2021-11-30T10:54:41.000Z Metal Pay has been able to scoop up [over 10,000 daily users](https://blog.metalpay.com/metal-aquires-bloks-io/?ref=dexplain.com) by acquiring Bloks.io, a block explorer for EOS, Wax, Telos, Proton and other chains. Metal expects to benefit by being able to engage with Blok’s large number of real crypto holders. There are plans to collaborate with Blok.io developers who are led by former Ethereum dev Syed Jafri. ## Is this good news? The move shows that Metal is committed to building out its long term vision for the future of banking. Currently, there is a market trend around products that connect cryptocurrency to real-time fiat payments. Just look at the recent attention around [Swipe Wallet](https://dexplain.com/swipe-crypto-debit-card-review/). Excitingly, Metal Pay is not aiming to just be a solution for [spending crypto with a Visa card](https://dexplain.com/best-crypto-cards/). Metal is building out the infrastructure for providing regulated crypto bank accounts. ****More than just a cryptocurrency wallet**: Metal Pay users have real FDIC insured bank accounts that can receive direct debits or pay bills. It brings legacy finance and blockchain technology together seamlessly, as you can link your Metal Pay account to your Visa Debit card. This enables quick purchases of crypto or fiat cash outs. But right now, it is only available to a select amount of U.S. states. ****Looking forward…** Metal’s proprietary blockchain [Proton (XPR)](https://www.protonchain.com/?ref=dexplain.com) launched in April 2020 aims to solve several regulation problems when it comes to banks embracing cryptocurrency. Proton Chain is built to be a channel of communication between blockchain and banks. No doubt the team will aim to leverage this technology, to make Metal Pay available worldwide. ### All Eyes on Dock’s PoA Mainnet Launch URL: https://dexplain.com/all-eyes-on-docks-poa-mainnet-launch/ Last updated: 2021-11-30T10:52:40.000Z While excitement for [Polkadot](https://polkadot.network/what-is-polkadot-a-brief-introduction/?ref=dexplain.com) is growing around the industry, as it does not face the same scalability concerns we currently see on Ethereum. Many projects that are building and part of Polkadot’s ecosystem seem to be flying under the radar. Dock is one of those very projects! [Dock’s PoA mainnet launch](https://dexplain.com/six-crypto-mainnet-launches-and-hard-forks-to-watch/) is scheduled to happen during September, so now is time to take note. ![](https://dexplain.com/content/images/2021/11/image-43.png) ## What is Dock? Dock aims to facilitate issuing verifiable credentials using blockchain technology. They are building the open source infrastructure and tools that will solve universal problems with legacy data solutions. Such as gate-keeping, incompatibilities across multiple platforms, inaccurate information, inefficiencies with verifying data and an overall lack of privacy for users. ****Understanding the value…** take job hunting for example, you have to sign up with LinkedIn, Indeed, Monster and many other websites. You spend countless hours filling in the same information, copy pasting your resume everywhere. Now imagine you create your profile on Dock, your data is now secure and decentralized. Job hunting businesses can now purchase this data using DOCK (as long as you opt-in!) and find your profile. Everyone’s life is easier, its a win win. - To help on-boarding and adoption, Dock plans to use oracles to calculate the price of data compared to the rate of DOCK. As a result, the price of data will remain stable. ****Big Data means Big Money:** There is a lot of competition, in the Polkadot ecosystem alone, we count ****8 projects** working to connect the data economy with blockchain. So we can’t say for sure if Dock will become the industry standard. What we can say is mainnet launches bring attention, which translates into new buyers. You do the math. ### Swipe Network launches Staking with 12% APR URL: https://dexplain.com/swipe-network-launches-staking-with-12-apr/ Last updated: 2021-11-30T10:50:12.000Z Over the weekend, [Swipe](https://dexplain.com/tag/swipe) launched a new staking program for SXP with [Binance](https://dexplain.com/tag/binance). Users holding their SXP on Binance in Spot Wallets will automatically enroll in the program, earning up to 12% APR. Meanwhile, Certik, a blockchain security team, cleared the [staking smart contracts for the mainnet](https://twitter.com/SwipeWallet/status/1296895188753879042?ref=dexplain.com) and a 28th August launch date has been set. ## **Endless bullish news for Swipe?** After our earlier posts detailing [reasons why Swipe’s move into DeFi](https://dexplain.com/sxp-price-predictions-7-reasons-swipe-defi-plans-will-rocket/) with Binance Chain was positive, the bullish news has not stopped. - Upbit Global listing. - Mainnet launch date set. - Swipe Wallet available to all US (minus NY) - Binance USA listing. - DeFi lending products with Binance Chain. - Band Protocol partnership for decentralized oracles. - The mysterious SwipeX product. ****Investors are taking notice:** [Swipe Network](https://dexplain.com/tag/swipe) is not missing a beat, all the news is bullish and investors are taking notice. As of today, SXP is trading around the $3 mark and is up by over 53% over the last 30 days. Furthermore, their Visa cards (available for EU and UK residents) are now completely free which will increase orders. All eyes are now on what the SwipeX product announcement will be. - If you’re looking to spend your cryptocurrency instantly online or in-store, check out our full review of [Swipe Visa Card where we look at the best crypto cards](https://dexplain.com/best-crypto-cards/) on the market. ****Looking ahead…** the wallet becoming available to US residents and Binance USA listing for SXP should be seen as particularly bullish news. This means Swipe is making progress on the regulation requirements needed to make their Visa card available to US residents. In fact, they have [mentioned orders will be](https://twitter.com/SwipeWallet/status/1296167790928330753?ref=dexplain.com) open soon. ### Ocean Protocol Completes Token Swap URL: https://dexplain.com/ocean-protocol-completes-token-swap/ Last updated: 2021-11-30T10:48:04.000Z On August 21st, [Ocean Protocol](https://dexplain.com/tag/ocean-protocol) completed their token swap moving OCEAN to a new ERC20 contract. The successful token swap is part of the project’s Ocean V3 release which will bring staking and incentives into the Ocean ecosystem. Essentially, they are preparing [to activate network rewards](https://blog.oceanprotocol.com/ocean-token-swap-completed-new-contract-live-f0768423b3e1?ref=dexplain.com) scheduled for Q4/2020 which will primarily go towards community funding programs. ### ****Well, that’s all great news?** While it is positive to see Ocean Protocol’s development moving forward, even this successful token swap may be a bearish indicator for the market. The total supply of OCEAN has doubled overnight and is now 1.41 billion. The team was quick to remind traders that the current circulating supply has remained at 350 million, so there should not be any immediate price impact. - Many investors dove into OCEAN following the increased attention due to their recent [Binance listing](https://www.binance.com/en/support/articles/9b6968ab7db84b5e98e55e8bcd2db094?ref=dexplain.com), just days before the token swap happened. They may now find that the Ocean Protocol is much deeper than expected! ****Lower your pitchforks**: the tokenomics change (increased total supply) is not actually a surprise or unplanned roadmap change. It was communicated in their original 2017 whitepaper, though that was 3 years ago and Binance could have highlighted this better. > ****In the new Ocean token contract, the maximum total supply will be set to 1.41 billion Ocean tokens. Originally planned and communicated in 2017, we’re now ready for this update to the maximum total supply.*** ****Looking to the horizon**: if you have been caught out by the supply change, then don’t think about throwing out the anchor just yet. The [Ocean V3 release](https://oceanprotocol.com/technology/roadmap?ref=dexplain.com) in September will enable a decentralized data marketplace accessible to everyone. Buying and selling of datasets will be simple, powered by Data Tokens, opening up a new era of data and DeFi economy. ### What is Vite Network and ViteX? URL: https://dexplain.com/what-is-vite-network-and-vitex/ Last updated: 2021-11-30T10:18:29.000Z What is Vite Network? **A DAG-Based Smart-Contract Platform for Fast Transactions at Zero Fees, secured by Snapshot Chain technology. [Vite](https://vite.org/?ref=dexplain.com) mainnet launched on 25th September 2019 and powers the ViteX decentralized exchange.* ## Bitesize Vite (VITE) Overview: - Vite is a DAG-Based Smart-Contract Platform for Fast Transactions. A Directed Acyclic Graph (DAG) blockchain enables users to enjoy ****zero fees transactions**. - VITE does this with a unique concept known as a ****Snapshot Chain** structure which uses a unique consensus model. The consensus model is ****Hierarchical-delegated-Proof-of-Stake** (“HDPoS”). - Vite virtual machine uses Solidity++ (what powers smart contracts) is fully compatible with Ethereum’s EVM. Thus, ****any [DeFi](https://dexplain.com/tag/defi) apps and DApps on ETH are compatible with Vite Network**. - The Vite team has deployed three products on the Vite network: (1) a decentralized exchange ****ViteX**, (2) ****VitePay** a payment platform, and (3) a blockchain solution for large enterprises called ****VitePlus**. - Like many smart contract or staking platforms, VITE token will deploy and interact with Dapps along with initiating transactions. Holders can also use VITE to participate in the consensus model and vote on block producers. ![](https://dexplain.com/content/images/2021/11/image-28.png) ## **VITE Token Key Metrics** - ****Recent Price**: $0.026 ([Check now](https://www.binance.com/en/trade/pro/VITE%5FUSDT?ref=LFVOTBVO)) - ****Current Trend:** +74% last 30 days (05/08/2020) - ****Market Cap**: $11.9M - ****Circulating Supply**: 468,849,087 - ****Total Supply**: 1,001,420,198 - ****All Time High**: $0.115 (18/07/2018) - ****All Time Low**: $0.00533 (13/03/2020) ### What is the VITE token? VITE is the platform’s native token for interacting with smart contracts and making token transactions. However, it is different compared to Proof-of-Work chains such as [Bitcoin](https://dexplain.com/tag/bitcoin) or Ethereum. Because, users do not spend VITE to pay for transactions. Users on the Vite network need to stake their VITE for a transaction quota. There is no need to spend coins as gas costs. Namely, Vite is not like other blockchain ledgers, the team has built a ****Directed Acyclic Graph (DAG) based smart-contract platform**. Which enables zero-fee transactions and increase transaction speed. VITE is also used to vote on Snapshot Block Producers, important for the network’s consensus model (more on that below!). Lastly, a VITE staker that has unused transaction quota can lease that quota to other projects. Meaning you can receive additional rewards such as the DApps’ native token. ### What is a DAG (Directed Acyclic Graph)? Blockchains allow one to track and verify any record stored in the ledger’s history. Hence when thinking about the data structure, you can think of Blockchains like a simple linked list. Each transaction on Bitcoin or Ethereum (and many other networks) follows the previous one. It holds a reference to the previous, which is how we build a chain. The important part to understand is that the sequence of digital events remains linear. A DAG operates differently, the data structure looks more like a flow chart that only moves in one direction. Therefore it is easier to think of a DAG being tree-like. The word **Acyclic* just means that nodes cannot refer back to themselves for verification. ![](https://dexplain.com/content/images/2021/11/image-29.png) The idea is that all network participants connect to each other. However, there are no blocks or miners because the two closest nodes verify the transactions themselves. Without miners and transaction costs, the network becomes much more scalable by default. [Scalability](https://dexplain.com/why-do-so-many-blockchains-rely-on-sharding-for-scalability/) is a major concern for growing smart contract capable blockchains, DAG technology provides a solution for this. Furthermore, DAG-based systems are faster than PoW chains with Vite’s TPS being in the hundreds of thousands. ## ****Is Vite Network secure?** Vite uses a ledger structure known as block-lattice. It is true that a DAG-based data structure does inherent deficiencies in security. Firstly, transactions are grouped by accounts that only exist on their account-chain. Secondly, transactions issued by other users will not be appended onto this chain automatically. If a user stops producing new transactions then his/her account chain will no longer grow. In conclusion, the rollback probability of their transactions will not decrease over time. This is a security concern. Vite uses its invention ****Snapshot Chain technology** to address this issue through a HDPoS consensus model. Snapshot Chain is an independent chain built off snapshots blocks of the Vite network status. It records the latest account balances and the hash of the latest block in each account-chain, thus removing rollback concerns. ## ****What is Hierarchical-delegated-Proof-of-Stake (HDPoS)?** It is a multi-tier dPoS algorithm, the top-level consensus prevents all transactions from tampering. The ****Snapshot Consensus Group** deals with gaurenting top-level consensus. The ****Delegated Consensus Group** and ****Private Consensus Group** deal with verification at the smart contract level and user account level respectively. Therefore, transactions can always happen at high speeds. To incentivize participation in consensus supernodes can receive staking rewards. ![](https://dexplain.com/content/images/2021/11/image-30.png) ## **Vite Networks’s Products** ****ViteX** – a [decentralized exchange](https://dexplain.com/tag/decentralized-exchange) that currently supports over 40+ different trading pairs. The platform sees on average over ****$1M** daily trading volume. This may not sound like much compared to centralized platforms such as Binance. However, for a DEX these are some impressive numbers. ViteX is unique as it has an on-chain order book and matching engine. Whereas, most DEXs cannot provide order matching when their books are on-chain. ****[VitePay](https://www.vite.org/products?ref=dexplain.com#pay)** – a product intended for merchants as a fast and feeless payment solution and integrates flawlessly with Vite wallet. The idea is to build an ecosystem where users and merchants can make/receive payments with instant settlements and zero fees. VitePay also works online, being integrated with OpenCart (an e-commerce solution). [VitePlus](https://viteplus.net/?ref=dexplain.com) – a Vite-based blockchain solution for governments or large enterprises. You could compare it to a business platform such as UniBright aimed at onboarding companies. The idea is to bring blockchain adoption forward without incurring massive overhead costs. For example, Vite has developed an application for the Syracuse government called [SyraCoin](https://github.com/vitelabs/whitepaper/blob/master/SyraCoinWhitePaper.pdf?ref=dexplain.com). It rewards city housing fund donors with blockchain-based coupons that they can then redeem for certain services (within the city). ![](https://dexplain.com/content/images/2021/11/image-31.png) ## How will VITE Token grow? ### Constant Releases - ViteX will soon be able to provide zero-fee conversions for wrapped stablecoins. An exciting, ****game-changing new feature** for the platform. No other DEX provides zero-fee stablecoin conversion. - One-step DEX deployment is already live. Beyond, ecosystem grants during Q3 will attract more teams to start using the tech. Thus we will have more DEXs powered by VITE technology. - The team has pledged to continuously list new coins on ViteX. Thereby, bootstrapping liquidity, and building community links through the new listings. - ViteX SDK (what developers use to build DEXs on VITE) is due for an update that will enable multiple programming languages. Theoretically, will make it easier to work with and more accessible. ![](https://dexplain.com/content/images/2021/11/image-32.png) ### What to look out for? - Vite HD Wallet is due to update that will allow users to store and manage their Bitcoin. This will allow Vite Wallet to capture BTC users who are currently outside of the Vite ecosystem. - Additional order types to allow ViteX more trading strategies. Such as, market order, immediate or cancel order (IOC), and Fill or Kill (FOK). - Third party algo-trading projects will integrate with ViteX. No projects have been announced as of yet so keep your eyes peeled for announcements. We would suspect support for a open source trading bot such as Hummingbot. - Development outlines of the Vite 2.0 decentralized gateway which will enable users to transfer assets cross-chain. These bridges will allow Vite to tap into value and liquidity found on other blockchain ecosystems. Stay safe and trade well! ### Six Crypto Mainnet Launches and Hard Forks To Watch URL: https://dexplain.com/six-crypto-mainnet-launches-and-hard-forks-to-watch/ Last updated: 2021-11-30T10:07:02.000Z [Bitcoin](https://dexplain.com/tag/bitcoin), Ethereum, and Altcoins all have a history of price pumping before major mainnet launches or upcoming hard forks. Which is why you should always follow crypto mainnet launches and hard forks closely. You may even meet cryptocurrency traders whose entire investing strategy is based on buying and selling the crypto news. They may never really spend much time checking a chart. **Just follow the crypto calendar for the big events and release dates*. Surely it can’t be as simple as buying mainnet launches and hard forks? Then you find out they are steadily making money just by flipping coins off their release hype. You may even wonder if you have it all wrong. Rest assured being able to read charts and [trading indicators](https://dexplain.com/tag/crypto-trading) is a big part of day trading. After all, knowing the fundamentals goes a long way to understand long-term market trends. Understanding concepts such as [Bitcoin Dominance](https://dexplain.com/what-is-bitcoin-dominance/), are key to following broad market trends. ## Historic Launch Price Pumps But catching a coin’s price rally early by riding the hype of an upcoming release is a hell of a feeling. We just have to look at THETA token’s ****parabolic 190% rise in price 7 days** before mainnet to understand why traders follow release announcements and updates religiously. ![](https://dexplain.com/content/images/2021/11/image-26.png) Still not convinced? Much more recently EGLD **moved upwards by over 320% during the month of July** before [Elrond’s mainnet launch](https://dexplain.com/tag/elrond). ![](https://dexplain.com/content/images/2021/11/image-27.png) A good place to find news before the market, or to know when an established project’s price might jump upwards is to scourge a cryptocurrency event calendar for big release dates. I recommend checking out [CoinMarketCal](https://coinmarketcal.com/en/?ref=dexplain.com) for this purposes. Safe to say you should always be checking roadmaps, recent blog articles, and socials when doing your research on a coin. To save you some time, here aresix upcoming crypto mainnet launches or hard forks. which I believe you should be keeping your eye because if the news is deemed positive ****then the market will move**. ## Six Crypto Mainnet Launches and Hard Forks To Watch 1. ****[Qtum ](https://dexplain.com/cold-staking-and-privacy-focused-defi-coming-to-qtum/)**– Mainnet Ignition hard fork will bring cold staking, and then later privacy DeFi products with phantom protocol. 2. ****[Vite ](https://dexplain.com/what-is-vite-network-and-vitex/)** – this fifth mainnet hard fork by Vite Labs will bring [zero fees stablecoin conversions](https://dexplain.com/vite-hard-fork-plans-for-zero-fees-stablecoin-trading/) to their decentralized exchange ViteX (September 1st). 3. ****[Ark](https://dexplain.com/what-is-ark-blockchain-ark-token-review/)** – the core v3 mainnet upgrade is the biggest update to the ARK ecosystem to day. 4. ****Dock** – this will be the first mainnet release for DOCK token, which will see its PoA network go live. The project building out a decentralized way to issue verifiable credentials. 5. ****[Blockstack ](https://dexplain.com/what-is-blockstack-stx-token-review/)** – Stacks 2.0 looks very promising for building future growth for the STX ecosystem. 6. ****[STP Network](https://dexplain.com/what-is-stp-network-stpt-token-review/)** – the first mainnet release for the Standard Tokenization Protocol, which should bring staking to STPT holders. Research first! ### 7 Reasons Swipe (SXP) DeFi plans with Binance Chain will rocket URL: https://dexplain.com/7-reasons-swipe-sxp-defi-plans-with-binance-chain-will-rocket/ Last updated: 2022-11-14T22:09:10.000Z [Swipe](https://www.swipe.io/?ref=dexplain.com) has had an extremely active month of July 2020 with several new partnership announcements, exchange listings, and [DeFi](https://www.dexplain.com/tag/defi?ref=dexplain.com) plans. All of these have influenced SXP’s price near immediately on publishing. Which has kept crypto traders and investors glued to their news-feeds talking about SXP price predictions. So let’s take a look at what Swipe Wallet is together. - If you’re looking for a cryptocurrency debit card, check out our full [Swipe Visa Card](https://dexplain.com/swipe-crypto-debit-card-review/) review. Along with our comparison to other [crypto cards](https://dexplain.com/best-crypto-cards/) available on the market. Firstly, we will look at why Swipe Wallet is such an exciting product right now. Secondly, we will go through their DeFi plans with Binance Chain. And lastly, we will provide our SXP price predictions. There have been some swings, though ****SXP is now up by +222% over the last 30 days**. With every announcement, the project is looking increasingly bullish in the short-term and long-term. ## 7 Reasons Swipe’s DeFi plans will rocket SXP price predictions Though the price increase is not the only reason why SXP is trending across the crypto twitter. SXP holders are now looking forward to earning staking rewards, cross-chain DeFi with Binance Chain. Let’s recap what happened during July, to go through seven reasons why SXP will continue this rocket growth. ![](https://dexplain.com/content/images/2021/11/image-22.png) ### 1) Swipe and Binance partnership: SwipeFi Binance acquiring Swipe was announced on July 7th, which led to the integration of $BNB and $BUSD in Swipe Wallet. Along with an SXP/USDT perpetual contract on Binance to trade with up to x50 leverage. There will be even closer integration of Swipe Network and Binance Chain, with a new DeFi product called SwipeFi. SwipeFi will be a new DeFi protocol for Binance Chain tokens (BEP-2) which will work much like MakerDAO on [Ethereum](https://www.dexplain.com/tag/ethereum?ref=dexplain.com). Holders of BEP-2 tokens can earn interest by supplying their assets to the protocol. And also will be able to borrow against their collateral. It will all happen directly on Binance Chain, which is an immense value proposition for DeFi users. Compared to the high transaction fees, gas fees, and slowness we currently find on the Ethereum blockchain. SwipeFi on launch will support BTC, BNB, ETH, BUSD, TUSD, and SXP to supply or borrow via the protocol. The new DeFi lending protocol is based on the open-source code of the Compound. Which will re-assure users that the code is battlehard. Stakers on the Swipe Network will be able to receive the fees generated by SwipeFi. Lastly, the protocol will govern itself by the community to improve decentralization. ### 2) Swipe Governance Token Airdrop (**CANCELLED*) ~~The new governance token will start by being airdropped to existing SXP holders, at the ratio of 1 SGV per 100 SXP. There will only ever be 10,000,000 SGV ever in existence, 2,999,700 SGV will be airdropped by taking a snapshot of SXP balances on 17th August. The rest of the supply will be distributed as liquidity rewards for supplying and borrowing via the SwipeFi protocol (as an incentive for usage). We will be learning more about the governance details when the SwipeFi whitepaper is published on the 10th of August.~~ ****Update 05/08/2020:** After [community and investor backlash](https://medium.com/swipe/swipe-governance-update-001-ethereum-binance-chain-interoperability-with-sxp-as-the-governance-e64469a5eea8?ref=dexplain.com), the team has now decided to cancel the Swipe Governance Token Airdrop. The protocol’s governance token will now be SXP itself. It will be interoperable between both Ethereum and Binance Chain using a decentralized bridge. To summarize, it will work by locking up 1 SXP on ETH chain to receive 1 SXP on BNB chain. This keeps all the tokenomics of Swipe protocol as SXP and introduces no new two token ecosystem. ### 3) Staking with 12% APY In just two weeks, the mainnet for Swipe Network will launch and staking will go live. Staking is an important part of the Swipe ecosystem. Namely it ensures the payment network will always be able to access real-time crypto to fiat conversions at any time. The idea is to lock up SXP to guarantee these conversions. Stakers can earn rewards for providing collateral along with rewards from generated processing fees. The team has announced an estimation of 12% APY on staking. Staking should also lock up token, which will influence SXP price predictions. ### 4) Visa Card Rewards Update Users can now choose to receive up to 4% cashback in either Bitcoin, Swipe Token, or Binance Coin. This is available on every purchase at over 60 million merchants worldwide that accept Visa. Currently, only European and United Kingdom users can order a Swipe Visa Card. By the end of the year other regions will be supported. ### 5) Partnership with Elrond EGLD token is in Swipe Wallet along with enabling the token to be spendable via its Visa debit cards. [Elrond](https://dexplain.com/tag/elrond) has a strong following with a rich ecosystem of partners that Swipe can benefit from (such as staking services). We would also expect [Maiar](https://dexplain.com/elrond-launches-mainnet-with-new-app-maiar-and-enhanced-token-model/) (Elrond’s new mobile wallet application) to support SXP on release given the official partnership announcement. ### **6) Internalization of Swipe Wallet (v1.5)** With the release of Swipe Wallet v1.5 came internalization. You can now use the mobile application in eight different languages: ****English, Spanish, Italian, French, Portuguese, Chinese, Korean,** and ****Japanese**. This should help the app grow and onboard new users from these regions, that historically all have established cryptocurrency communities. ### **7) Partnership with Travala.com** Travala is a leading blockchain-based travel booking service, their native token AVA is now on Swipe. More interesting for SXP holders is that Swipe Token is available on Travala.com’s list of preferred payment option. This means that now over 2 million hotels and accommodations around the world accept $SXP as a form of payment. ![](https://dexplain.com/content/images/2021/11/image-23.png) ## SXP Price Reaction July Since early July the price of SXP has been trending upwards. Notably, fueled by the news that [Binance](https://dexplain.com/tag/binance) bought Swipe, and SXP will trade on the platform. We can clearly see the massive trading volume increase. Which has resulted in an upwards price trend. One of the reasons that analysts have a very bullish outlook on SXP price prediction for the year. ![](https://dexplain.com/content/images/2021/11/image-24.png) ## What is Swipe Wallet? Swipe Wallet is a mobile application for Android and iOS to be a crypto-fiat gateway. It enables various cryptocurrencies spending as fiat currencies on-demand and in real-time. Swipe achieves this by establishing connections between existing legacy payment networks and blockchain technology. For example, their flagship product the ****Swipe Visa debit** card allows users to spend their cryptos at any merchant. As long as the merchant supports Visa payments. Swipe’s mission is to bring crypto and decentralized finance to the mainstream by making it straightforward for users. Make it easy to work with cryptocurrency. For example, their crypto-fiat conversions happen within seconds. Swipe Wallet is very user friendly allowing users to deposit, store, and withdraw their cryptocurrencies. Furthermore, there is no need to manually convert crypto to fiat before wishing to spend it. The wallet application can deal with this automatically, so you can [buy Ethereum](https://dexplain.com/how-to-buy-ethereum-with-a-credit-card-on-binance/) in just a couple of clicks. Another positive is that Swipe Network supplies all of the liquidity for conversions. So there are never any supply and demand problems when converting crypto to fiat. Lastly, we can’t disregard is that Binance, the world-leading cryptocurrency exchange, has a major stake in Swipe. ![](https://dexplain.com/content/images/2021/11/image-25.png) ## Swipe Tokenomics SXP is the platform’s native utility token for paying transaction fees, earn staking rewards. You can also use it to receive a discount on the platform’s card fees. The token follows a deflationary model. Thus, the design will increase scarcity and drive the asset’s value up. Using the Swipe Network immediately burns ****80% of transaction and withdrawal fees** by a smart contract. - Recent Price: $1.85 (3rd August, 2020) - All-time Low: $0.16 (Mar 18, 2020) - All-time High: $2.26 (July 25th, 2020) - Market Cap: $122,074,127 - Circulating Supply: 65,982,752 - Total Supply: 299,969,953 ### Where to buy SXP? - [Bybit](https://www.bybit.com/en-US/invite?ref=M2YNXG) \- Currently, this is my favourite platform! Great liquidity and bonuses for deposits. - [Delta Exchange](https://www.delta.exchange/app/signup/?code=VVRPEI&ref=dexplain.com) \- Good for a degen account, no KYC required but low liquidity. - [Binance](https://accounts.binance.com/en/register?ref=X8XUVA60) \- Lots and lots of spot altcoin pairs, especially BTC pairs. - [KuCoin](https://www.kucoin.com/ucenter/signup?rcode=r3D6E6L&ref=dexplain.com) \- Great for longer small cap holds. ## **My SXP Price Prediction 2022** As you can see, I am bullish on Swipe and have been accumulating under $2 mark. I believe the price can go much higher, so do not worry if you have missed this entry. There are four major factors why I have such a positive outlook on SXP for the short term and long term. 1. 120M market cap. 2. Owned by Binance. 3. 65M circulating supply. 4. Crypto.com (CRO) competitor is valued at 3 billion market cap. Those four factors alone already sound very bullish. Just think ****SXP could x20** and it would still be valued less than its closest competitor. Therefore, the growth potential for this asset is very attractive. If it did x20 by EOY that would result in ****SXP price moving above $30**. Remember their debit cards are already being rolled out to Europeans. Other regions are coming by the end of the year, and [that the CEO of Binance CZ supports the project](https://cointelegraph.com/news/binance-ceo-cz-showcases-first-use-of-binance-card?ref=dexplain.com). In the future we could see many [crypto debit cards](https://dexplain.com/best-crypto-cards/) powered by Swipe Network. Just the fact that [Binance Card](https://dexplain.com/binance-visa-card-review-high-cashback-btc-debit-card/) is powered by Swipe should make you bullish enough! Stay safe and trade well! ### Binance Lists Maker MKR and DAI: More DeFi Tokens Enter CeFi URL: https://dexplain.com/binance-lists-maker-mkr-and-dai-more-defi-tokens-enter-cefi/ Last updated: 2021-11-30T01:58:12.000Z [Binance](https://dexplain.com/tag/binance) – the leading cryptocurrency exchange – has listed the Maker’s platform native governance token MKR along with the project’s stablecoin DAI. We now see more DeFi tokens enter CeFi platforms. After successfully listing Synthetix’s SNX and Compound’s COMP early July. There should be no doubts, that Binance has kept its eyes on the ever-growing appetite for [DeFi](https://dexplain.com/tag/defi) tokens by traders. Binance will start by offering limited trading pairs. This is quite usual for newly listed tokens and will likely increase in the future. Currently, you can access the following markets pairs: MKR/BNB, MKR/BTC, MKR/BUSD, MKR/USDT, DAI/BNB, DAI/BTC, DAI/BUSD, and DAI/USDT. ## **Maker on Binance** The new listing is a significant milestone for the Maker ecosystem. Their users have been demanding for a Binance listing for quite some time. Generally speaking a Binance listing has a positive impact on any cryptocurrency or token. Mostly because the platform has such a large user-base. Many DeFi tokens are only on decentralized exchanges such as Uniswap or Kyber Network. Or stick to chasing listings on obscure centralized exchanges with low user bases. As more DeFi tokens enter CeFi platforms, adoption will continue to grow. While you could argue that this ensured their token holders and supporters were more familiar with the project’s tokenomics. Particularly, at actually using the product. Compared to just buying the token for speculation, growth is limited by the increased difficulty of buying the asset. Binance now listing MKR and DAI, cements that major exchanges have been keeping a close eye on DeFi tokens. It perhaps is a sign that they will be further integrating them into their platform. ## **MKR Price Reaction** The initial MKR price reaction in the hour after the news broke was very positive. The token’s price jumping up by ****+12%**. ![](https://dexplain.com/content/images/2021/11/image-12.png) Then the market went through a quick correction. Now we can see the drawback has started a downwards trend for now. However, take note of the big increase in overall trading volume also. Another great sign that traders are hungry for DeFi tokens – especially governance tokens such as MKR. DAI though it is the primary token of the Maker protocol is a stablecoin. Consequently, the value is pegged to the U.S. Dollar – so we did not expect to see any significant changes in price. ## **More DeFi Tokens Enter CeFi?** Decentralized Finance (DeFi) has been and still is one of the hottest topics in the blockchain industry this year. Currently, the [DeFi market](https://defipulse.com/?ref=dexplain.com) has hit over ****$3.54 billion** in total value locked.It is also one of the main reasons why Ethereum usage is so high right now. Due to a new craze called **Yield Farming*** – the process of using as many DeFi protocols at the same time. Known as stacking, the idea is for the user to grab the highest possible yield. Furthermore, DEX trading volumes went over $1 billion for the first time last month. If you have been following [Ethereum](https://dexplain.com/tag/ethereum) updates or are a DeFi enthusiast, then this will be old news. And that is just the point! Listing MKR and DAI, opens this sector of the industry up to a whole new audience of traders. Many who are ****just starting to hear about DeFi tokens for the first time**. This new retail on-ramp for purchasing MKR will result in new tokenholders to participate in the Maker ecosystem. Furthermore, as DAI is found in nearly all DeFi products it should also increase usage of DeFi as a whole. Binance also already has a section of their platform dedicated to staking. In addition toproducts allowing users to earn interest for locking up stablecoins such as BUSD or USDT. I doubt they will simply want to be an on-ramp for **Yield farmers* buying DAI to move off the platform. Binance will want to capture the value of the whole process. Meaning, we could see more DeFi tokens enter CeFi on Binance in the near future. Stay safe and trade well. ### Vite Hard Fork plans for Zero Fees Stablecoin trading URL: https://dexplain.com/vite-hard-fork-plans-for-zero-fees-stablecoin-trading/ Last updated: 2021-11-30T10:37:49.000Z We are moving closer to the fifth hard fork for Vite mainnet. The Vite hard fork [known as Jupiter](https://dexplain.com/what-is-vite-network-and-vitex/) is a very exciting upgrade for the ViteX decentralized exchange. Namely, it will enable ViteX to jump into the DeFi scene by providing traders with zero fees stablecoin conversions. ![](https://dexplain.com/content/images/2021/11/image-36.png) ## **Vite Hard Fork Details** The mainnet upgrade will happen at ****block height 39694000**, most likely on September 1st, 2020\. Vite Labs [has confirmed](https://dexplain.com/six-crypto-mainnet-launches-and-hard-forks-to-watch/) that this hard fork will enable friction less stablecoin conversions for the ViteX decentralized exchange. ## ****ViteX Zero Fees Stablecoin conversions** Once [Vite Labs](https://vite.org/?ref=dexplain.com) has successfully implemented the upgrade their mainnet. Users will be able to enjoy friction-less stablecoin conversions. Allowing traders to swap between stablecoins on ViteX decentralized exchange at zero fees. This upgrade can be a real industry game-changer due to the high transaction fees and slowness traders face on [Ethereum](https://dexplain.com/tag/ethereum). The growing DeFi trend is where the most cryptocurrency interest is right now. Any platform that can provide same functionalities at lower cost is going to win a lot of happy users. Simply due to how hot the [DeFi](https://dexplain.com/tag/defi) sector looks right now is very promising for Vite’s hard fork. Even if they carve out just a small section of the stablecoin market for ViteX. This could increase their daily trading volume by millions. Because, no other DEX provides zero-fee stablecoin conversions. ## **Mainnet Upgrade Price Reaction** Let’s take a look at how the market has reacted to the news around zero fees stablecoin conversions. VITE is currently traded at ****$0.032**, it is by ****127.4%** over 30 days. ![](https://dexplain.com/content/images/2021/11/image-37.png) If you currently have open positions then I would be paying close attention to the next few days of trading. The price of VITE has already moved upwards massively as we move closer to the hard fork date. Consequently, the next few days will show us if the market’s appetite for Vite coin is still hungry. Note that, the daily volume is going down. However, traders may want to book their profits after accumulating throughout April and May. This could cause enough sell pressure for a reversal in trend, sending the asset’s price towards white line on our chart. However, if trading volume picks back up then we could see the upwards momentum continue. What we can see is that traders responded very positively to the news of zero fees [stablecoins](https://dexplain.com/binance-lists-maker-mkr-and-dai-more-defi-tokens-enter-cefi/) conversions.**What is Vite?** Before the terms [DeFi and yield farming](https://dexplain.com/cold-staking-and-privacy-focused-defi-coming-to-qtum/) jumped into the mainstream crypto terminology, VITE was busy building out the foundation blocks of what they call ***Open Finance**. In fact, once live this will be their fifth successful Vite hard fork. [Financial protocols](https://dexplain.com/what-is-mooniswap-the-new-automated-market-maker-by-1inch/) built to be borderless, accessible, transparent that can transfer value between different public blockchains and applications. Vite launched their first DEX, ViteX in July 2019, and has been busy adding on new features ever since: on-chain settlements, order-matching, and dividend distribution. While other DeFi platforms and governance protocols are facing scalability issues on ETH, ViteX continues to grow, powered by the high performance and low transaction costs of the Vite chain. Research first! Always. ### Why do so many blockchains rely on Sharding for Scalability? URL: https://dexplain.com/why-do-so-many-blockchains-rely-on-sharding-for-scalability/ Last updated: 2021-11-30T09:42:30.000Z Any [blockchain](https://dexplain.com/tag/blockchain) project built to host smart contracts and decentralized applications (DApps) will undoubtedly have ****Sharding** their architecture design. Cryptocurrency investors and decentralized finance enthusiasts alike have had to come to the reality that current blockchain implementations ****cannot** scale. Besides, the current gas prices and usage of the [Ethereum](https://dexplain.com/tag/ethereum) network will have made it painfully obvious. Blockchains are slow, the fees are high and any applications built on them are having problems to scale. But if a public blockchain is to achieve any business adoption. Notably, in the financial technology (FinTech) sector, to compete with legacy payment systems (that are hundreds of times faster). Then it must find an answer to boost throughput, address latency problems and increase scalability. The debate around blockchain scalability has been raging for several years now. Creating communities so entrenched in their positions that whole hard forks have been born due to the debate. Namely, Bitcoin Cash due to the controversy over the initiation of SegWit. To summarize, we find two camps: ****on-chain vs off-chain scaling**. Lightning Network is an example of Bitcoin taking an off-chain approach to staking. Whereas, with ETH 2.0, the goal is to become a Proof-of-Stake sharded blockchain is an on-chain solution for scalability. So then, we are going to look at the second option. To explore why so many blockchains are relying on sharding as the solution for all of their scalability problems. ## **What is Sharding?** **Sharding refers to a form of database partitioning, also known as horizontal partitioning.* What may come as a surprise to many crypto enthusiasts, Sharding is not a new term or technical invention. Hence it was not born with blockchain, it has existed since the late 90s. It is a process that is regularly used by companies that need to manage large centralized databases effectively. The idea is simple: split up a large database. Subsequently, smaller segments are easier to manage. Overall this will increase the performance of the system and reduce the query response time. For example, most companies will break up their customer database by geographic locations. Placing them on unique servers as a way to cope with traffic. ## **What is Sharding for blockchains?** **The same thing!* Currently, one of the bottlenecks faced by blockchains is that the network of nodes is responsible for verifying every transaction. Sharding a blockchain means breaking up the blockchain into smaller segments (known as shards). Each shard can be responsible for a set of account balances and smart contracts. Sets of nodes will assign to individual shards for the verification of transactions and operations. Instead of each node having to verify everything that happens on the entire network. By breaking up the blockchain into smaller segments that become more manageable, it leads to higher throughput of transactions. Overcoming the problems of scalability many networks are facing today. [Elrond](https://dexplain.com/tag/elrond), for example, uses a mechanism known as [Adaptive State Sharding](https://dexplain.com/what-is-elrond-erd-blockchain/). In brief, it allows parallel transaction processing up to 10,000 transactions per second. ![](https://dexplain.com/content/images/2021/11/image-18.png) **Is Sharding secure?** **This is where different approaches could mean everything.* While most DApp developers appear agree that Sharding is a much-needed scalability solution. [Projects](https://dexplain.com/tag/project-review) are taking different approaches to their architecture namely how to deal with cross-shards communication. This is because you can argue that a blockchain split into different isolated segments is a security concern. In particular, it is easier for hackers to take over a single shard than the whole network. Due to the reduced hash power required to control an individual segment. This type of attack is a [1% attack](https://www.mangoresearch.co/1-shard-attack-explained-ethereum-sharding-contd/?ref=dexplain.com) or a single-shard takeover. The attackers would then aim to use their shard to submit invalid transactions to the whole network. The popular solution to this attack vector is to implement a randomness element to the network, namely to node assignation. For example, nodes are randomly reassigned to different shards. Making it hard for an attacker to predict which shard their malicious node would be interacting with. Another challenge is how a ****thin*** client (think a web wallet) will deal with not having a full blockchain state. Also, how shards should communicate with each other if they appear to be separate networks. This is where teams have different implementations, and only time will show us the clear winner. ## **Who uses it?** **Many smart contract blockchains are designed to use sharding*. *Here is a small list of projects we recommend taking a look at:* - ****Zilliqa**: the first public chain to have implemented it. Its testnet achieved 2,828 TPS in a controlled environment but so far their mainnet has not shown the same speed. - ****Elrond**: the ERD platform boasts a 10,000 TPS due to their new approach to sharding, the mainnet launch is imminent. - ****Ethereum 2.0**: once serenity is implemented. ETH 2.0 will use sharding and it is estimated that along with using rollups it could reach 100,000 TPS. - ****PChain**: a blockchain that many like to call **What Ethereum could be.* Namely, it follows eth’s native EVM and has reached over 128k TPS on their mainnet. - ****QuarkChain**: Ran multiple competitions on their mainnet to finally reach a peak of 1,000,000 TPS. - ****Cardano**: ADA also has a different approach where the ledger is not split into shards. Theoretically, the throughput could go as high as 1 million TPS. Stay safe and trade well! ### What is Stacks (formerly Blockstack)? STX Token Review (2026 Update) URL: https://dexplain.com/what-is-blockstack-stx-token-review/ Last updated: 2026-07-17T16:22:53.000Z Blockstack set out to build a user-owned internet anchored to Bitcoin, the most secure blockchain. Since those early days, the project has been through a full rebrand and a major technical evolution. Today it is known as Stacks, and it has repositioned itself as a leading [Bitcoin Layer 2](https://www.stacks.co/?ref=dexplain.com). Here we will take a look at what Stacks is, how it uses Bitcoin, and the role of the STX token. ## From Blockstack to Stacks The project originally launched as [Blockstack](https://dexplain.com/what-is-blockstack-stx-token-review/), focused on decentralized apps and identity. It later rebranded to Stacks and shifted its core narrative toward being a smart-contract layer that settles on Bitcoin. As a result, Stacks became one of the most prominent efforts to bring programmability and [DeFi](https://dexplain.com/what-is-bitcoin-dominance/) to the [Bitcoin](https://bitcoin.org/?ref=dexplain.com) ecosystem, something Bitcoin's base layer does not natively support. ## How Stacks Works Stacks enables smart contracts and decentralized apps whose transactions settle on the Bitcoin blockchain. It uses its own programming language, Clarity, designed for predictability and security. As a result, developers can build applications that inherit a degree of Bitcoin's security while adding functionality Bitcoin alone cannot provide. A major milestone was the Nakamoto upgrade, which improved transaction speed and tightened the connection to Bitcoin. Alongside it, Stacks introduced sBTC, a mechanism designed to move BTC in and out of the Stacks layer in a decentralized way. As a result, holders can put their Bitcoin to work in DeFi rather than leaving it idle. ## The STX Token STX is the native token of Stacks. It is used to pay transaction fees, deploy smart contracts, and participate in the network's unique consensus. One of the most distinctive features is Stacking: STX holders can lock their tokens to help secure the network and, in return, earn rewards paid in Bitcoin. As a result, STX holders can earn BTC yield simply by participating in consensus — a mechanism unique to the Stacks design. ## Looking to the Future Looking to the future, Stacks is central to the growing "Bitcoin DeFi" narrative, as more builders look to activate Bitcoin's large, idle capital base. With the Nakamoto upgrade and sBTC live, the project is better positioned than it was in its Blockstack days. As a result, it remains one of the key names to watch in the Bitcoin layer-2 space. Always do your own research before investing. *This article was updated in July 2026 to reflect the rebrand from Blockstack to Stacks, the Nakamoto upgrade, and sBTC.* ### What is Ark Blockchain? ARK Token Review URL: https://dexplain.com/what-is-ark-blockchain-ark-token-review/ Last updated: 2021-11-30T10:45:42.000Z The Ark Crew is scheduled to deploy Ark Core v3 to [mainnet before the end of Q3 2020](https://dexplain.com/six-crypto-mainnet-launches-and-hard-forks-to-watch/). This will implement some of the biggest upgrade to the Ark ecosystem to date. Here we will take a look at what is Ark blockchain, take a quick ARK token review and dive deeper into Ark Core v3\. Excitingly, Core v3 will enable the launch of two new products ****MarketSquare*** and ***Deployer**. MarketSquare will be the new hub of the decentralized web. Deployer will enable any one to launch and manage their own blockchains with a couple of clicks. Amazing milestones for worldwide blockchain adoption. ## **What is Ark Blockchain?** [ARK](https://dexplain.com/tag/ark/) is a decentralized ecosystem focused on building tools that will bring blockchain to the masses. The idea is to achieve this through a perfect user experience. While many platforms have copied Ethereum, the Ark blockchain has taken a different approach. Instead of building dapps with smart contracts, ARK’s sandbox ecosystem enables blockchain creation in just a couple of clicks. ARK has also built numerous ****SmartBridges** to other blockchains. Thus solving the problems of interoperability between networks, along with supporting various programming languages to onboard developers quickly. ![](https://dexplain.com/content/images/2021/11/image-41.png) ## **Quick ARK Token Review** ARK is the platform’s native currency, currently, it can be used to pay for various mainnet services. - Recent Price: $0.49 - Market Cap: $60M - Circulating Supply: 123,055,683 ARK - Total Supply: 151,526,580 ARK - All-time-high: $10.22 (Jan 10th 2018) - All-time-low: $0.033 (Mar 22, 2017) The main trading market is ARK/BTC with the most liquidity found on [Binance](https://dexplain.com/tag/binance) exchange. ## ****Deeper Dive: Ark Core v3** **When? ETA is Q3 2020 (by September 30th)* The Ark blockchain originally launched in 2017, it is not a new project by any means. The next upgrade ****is the biggest Ark update to date**. The upgrade will feature completely new architecture for the Ark Core Framework. Along with setting a new standard for modular development within the blockchain industry. Much of the updates are technical and developer-focused. But to summarize, the main gist of the upgrade is that there will be many more options for [BridgeChains](https://ark.io/?ref=dexplain.com). Currently, when launching on on the platform you are stuck following the ARK voting system. Once live, the upgrade will let businesses choose models that suit their project: PoW, PoS, or a different logic entirely. Node management will be possible from a new Dashboard GUI. Which will be a big improvement over having to use a command line tool. ![](https://dexplain.com/content/images/2021/11/image-42.png) More excitingly and perhaps much easier to understand the value, Ark Core v3 prepares the network for a new product. MarketSquare aims to be the new face of the decentralized web. A hub where users can create their profile discover new crypto businesses, DeFi applications, and blockchain – ****along with ratings**! Will be interesting to watch the Ark ecosystem grow in Q4 with the release of new flagship products. Stay safe and trade well! ### What is Bitcoin Dominance? URL: https://dexplain.com/what-is-bitcoin-dominance/ Last updated: 2021-11-30T10:30:13.000Z The Bitcoin Dominance Index or Bitcoin Dominance Ratio is an indicator that traders can use to quickly get a feel of [Bitcoin’s](https://dexplain.com/tag/bitcoin) value relative to that of the whole cryptocurrency market. This index takes Bitcoin’s market capitalization compared to the market cap of every other digital asset. Essentially, you have a tool to compare BTC’s market cap against [Altcoins’](https://dexplain.com/tag/altcoins/) market cap. It is hard to pindown the origins of the index and who initially created it. What seems sure is that it was originally created to illustrate just how important Bitcoin is in the crypto economy. Bitcoin is the world’s largest cryptocurrency by market capitalization (market cap). Therefore, it generates a huge amount of the [crypto trading](https://dexplain.com/tag/crypto-trading) volume in the whole market. If we add up the market cap of all existing cryptocurrencies, we can loosely calculate the value of the industry. Bitcoin dominance refers to the ratio between the market cap of BTC against the rest of the cryptocurrency markets. Given that Bitcoin has been the largest cryptocurrency for many years and for some time the only in existence. Naturally, its dominance in the past was much closer to 100% than it was today. The Bitcoin dominance has dropped rapidly as new cryptocurrencies and tokens launch. The significant drop happened during the increased popularity of Ethereum and the introduction of the ERC20 token standard. ## **Why is the Bitcoin Dominance Ratio important?** Traders will be quick to tell you that watching the BTC dominance index is how to predict a ****Altseason** rally. Which is a period of time where altcoins gain market share relative to Bitcoin. Consequently, causing Bitcoin’s dominance ratio to go down. So the Bitcoin Dominance Index is for gaining an overall insight into the market along with the sentiment of traders. An asset’s price is a function of supply and demand. Thus, the ratio measures demand of BTC relative to demand for altcoins such as ETH, VITE, CHR, or ERD. For example, if the price of Altcoins is going down and BTC is continuing to hold its value steadily. Then you could make an analysis that investors are buying Bitcoin to cut their losses. You could confirm this analysis by checking if Bitcoin’s market dominance is going up. This is important to know because it could indicate some of your favorite Altcoin’s prices may soon dip. In short, leading to trade opportunities to buy more at a favorable price. ## **What are the ratio’s pitfalls?** A market that is bullish or bearish will not always influence the Bitcoin Dominance ratio. If Bitcoin falls in price, but the whole cryptocurrency market is bleeding. Then the Bitcoin Dominance Index will stay the same. Critics are also quick to point out that it is an index using market capitalization. Which is a calculation with its own limitations. For example, estimates believe ****30% of all Bitcoin may potentially be dormant forever**. Therefore, they will never reach exchanges (abandoned in lost wallets) but they are still part of BTC’s market cap. Additionally, hundreds of Altcoins have turned out to be scams that never delivered any working product. So why should these digital tokens be included in any calculation trying to estimate cryptos overall market value? It should also be pointed out, that market cap doesn’t mean an influx of money. As a rule, it is a measurement that is based on the asset’s circulating supply and current market price. All things you should take into consideration when crypto trading using the Bitcoin Dominance Index. To conclude, when BTC was the only digital asset being traded on exchanges then the dominance would have been 100%. Today we see that its dominance is definitely less than 100% because there are many more cryptocurrencies in the space. However, this should not be seen as a positive or a negative thing. What it does is show us how the overall crypto space is growing and evolving. Stay safe and trade well! ### What is Chromia? CHR Token Blockchain Review URL: https://dexplain.com/what-is-chromia-chr-token-blockchain-review/ Last updated: 2022-11-14T22:08:43.000Z **What is Chromia? An Overview.* - Use CHR token to pay transaction fees and as block rewards. - Chromia is a blockchain platform that supports the deployment of decentralized applications (DApps). The aim of the project is to solve the scalability problem. - Much like other platforms Chromia uses a network of nodes to form a blockchain, the unique side of the project is that each node uses its own relational database (more on that below!). - The project conducted private and public token sales during August 2018 and May 2019, raising 11.70MM USD. ## **What is Chromia and CHR token?** Chromia, formerly known as Chromapolis, is a blockchain and also a relational database. Chromia and CHR token is a project by [ChromaWay](https://chromia.com/?ref=dexplain.com), which is a Swedish technology company that has been active in the cryptocurrency industry since 2014\. In fact, their core team has been involved in crypto since 2012\. Back then they created the world’s first protocol for issuing tokens called bitcoin 2.0\. In conclusion, it is safe to say they know their way around developing blockchains. The project aims to onboard existing businesses to adopting blockchain technology in a way that does not break any of their current legacy systems. While the term relational database may not mean much to you or me. However, it will be familiar to developers around the world. Which is the whole idea behind Chromia: create decentralized applications in a way that developers already know. Whether they work on large enterprise applications, games, or smaller applications. You can see the upside for this: no large investment required from companies to enter blockchain, and no learning curve for their existing development teams. ![](https://dexplain.com/content/images/2021/11/image-4.png) ## **Blockchain Design** Chromia’s design will throw any scalability concerns for [DApps](https://dexplain.com/tag/dapps) out the window. For instance, many blockchains have simply mirrored Ethereum by making dapps a collection of smart contracts. Chromia takes a new approach making each dapp its own blockchain. Consequently, each dapp deployed on Chromia runs on a specific set of nodes. Known as creating a sidechain. Each dapp can also have its own tokens, its own monetization, and its own governance. Furthermore, dapp developers choose what works for their project such as not paying for every transaction and simply paying to host the dapp on the network. This enables unlimited horizontal scalability as each dapp can increase its total throughput by increasing the number of nodes used on its sidechain. Meaning if your project becomes very popular and has millions of users: Chromia has a solution for you in place. There is no risk of network congestion causing your users to become unhappy and move away in frustration. For instance, we find implementations of dapps on Chromia in several sectors such as gaming, real estate, finance, and healthcare. ![](https://dexplain.com/content/images/2021/11/image-5.png) ## **CHR Lighting Fast Transactions** Chromia aims to support 50 million token transfers per day per [blockchain](https://dexplain.com/tag/blockchain). The MVP version of their software will support this target. The team announced that transactions will be verified within 2 seconds. This will definitely be quick enough to support in-person or in-game payments. Furthermore, the platform will work in a similar way to how [sharding](https://dexplain.com/why-do-so-many-blockchains-rely-on-sharding-for-scalability/) works on Ethereum. Meaning, each blockchain within Chromia corresponds with its own set of validator nodes. And these nodes are a subset of all the nodes operating on Chromia, for network security, it runs a Byzantine Fault Tolerance (BFT) consensus algorithm. Staking will also play a part in network security. However, Chromia is not exactly using a Proof-of-Stake (PoS) algorithm. The main difference is that holding more CHR does not result in having bigger payouts or more control over the network. Staking on Chromia is more similar to paying a deposit, you need to do it to access certain features such as deploying a Dapp or launching a node. ## **Native Utility Token: CHR** The native utility token for Chromia is CHR, users can use their CHR tokens with DApps on the platform and in turn, the DApps use CHR to pay for the transaction fees. These paid transaction fees reward block producers running nodes on the network. Chromia also enables dApps to create tokens backed by CHR for profit-sharing solutions. For example, allowing investors of a dApp project compensation directly in CHR (via a profit-sharing contract). Essentially, developers can create their own economic models for their dapps. Importantly, this can make income streams that are not solely CHR tokens. CHR tokens can also be staked which is a reward mechanism to keep the network secure. Namely, you can earn rewards being a system provider, running application nodes, or community nodes. ![](https://dexplain.com/content/images/2021/11/image-6.png) ## **Scalability Solutions And Partnerships** One thing we have to mention straight away is that this is not vaporware! Chromia has already built and released the developer framework which will power their scalability solutions. - ****Postchain** – the only product on the market that combines an immutable blockchain with a database management system. - [Rell](https://rell.chromia.com/en/master/?ref=dexplain.com) – the programming language created for developers to use on Chromia’s platform, which is heavily based off SQL. Documentation is also already very complete, which developers will find very handy. The public testnet was successfully launched in June 2019\. Supporting dapps such as: Chromia Vault, Chain of Alliance, Chromunity, Mines of Dalarnia. ChromaWay has also been very busy building partnerships within the industry and with game studios, to ensure their mainnet launch will follow up on the testnet’s success. ### **Here is a list of key partners:** - [NGC](https://blog.chromia.com/chromia-secures-strategic-partnership-with-ngc/?ref=dexplain.com) - [Green Assets Wallet](https://thedailychain.com/green-assets-wallet-launches-on-chromia-mainnet/?ref=dexplain.com) - [Tech Mahindra](https://www.mahindra.com/news-room/press-release/tech-mahindra-partners-with-blockchain-technology-pioneer-chroma-way-to-bring-consortium-databases-to-the-indian-market?ref=dexplain.com) - [Workinman Interactive](https://coinrivet.com/chromia-studios-to-collaborate-with-workinman-interactive/?ref=dexplain.com) - [Lantmateriet](https://www.ledgerinsights.com/inter-american-development-bank-idb-blockchain-land-registry-chromway/?ref=dexplain.com) - [Stockholm Green Digital Finance](https://stockholmgreenfin.tech/?ref=dexplain.com) - [Indian Government](https://bitnewsbot.com/blockchain-builder-chromaway-partners-with-indian-government-for-smart-land-registry/?ref=dexplain.com) - [NSW Land Titles](https://www.itnews.com.au/news/nsw-keys-blockchain-for-mandatory-econveyancing-514016?ref=dexplain.com) It should definitely be seen as particularly positive that they are already making partnerships with the very entities needed to enable and regulate blockchain technology being used in sectors such as land ownership and real estate. ![](https://dexplain.com/content/images/2021/11/image-7.png) ## **Chromia Tokenomics** - ****Circ. Supply**: 345,823,809 CHR (35.36%) - ****Current Max Supply**: 978,064,794 CHR - ****Initial Max Supply**: 1,000,000,000 CHR - ****Market Cap**: $17,965,812 USD (20/07/2020) - ****Current Price**: $0.048 (20/07/2020) - ****IEO Price**: $0.05 USD - ****Tokens purchased by investors**: 232 Million (including bonus) - ****Ecosystem Fund**: 368 Million - ****Promotions Fund**: 250 Million - ****Team (including founders and advisors)**: 100 Million - ****System Node Compensation**: 20 Million - ****Conversion Contract**: 30 Million One thing to note is that it is quite difficult to follow the project’s token release schedule, you would just have to subscribe to their blog and read through all of their announcements – on that note the above data may be incorrect! The team is very transparent on how the allocations are being released or any changes. However, it is hard to follow any of the token release data in real-time. They are working on a dedicated page to display this very type of data feed. Hopefully, it will eventually be added to their block explorer. This would be a nice addition as there are lockup schemes in place for the team’s token allocation, and it is hard to follow when these tokens will be in circulation. ![](https://dexplain.com/content/images/2021/11/image-8.png) ## **Chromia Roadmap: What to watch out for?** This sector of bringing business solutions to adopt blockchain technology, enabling traditional sectors to onboard easily is very heated. There is a lot of competition to solve these same scalability problems. Some competitors target specific industries and use cases. For example, gaming, requires the ability to process large amounts of data at high throughput. You can name EOS, Quarkchain, Zilliqa, UniBright, Icon, and Harmony – along with many others as competitors in the scalability space. We recommend keeping your eye on Chromia’s announcements, and follow their recent developments closely as they move towards deploying their MVP testnet in Q3 2020\. The project does not have a published Roadmap up on their website. Frustratingly, this makes it hard to follow what has been delivered. The only way is to follow their blog closely. I would hope to see a website update along with their MVP mainnet launch, that would go together nicely. ### ****Here are some key features for the future:** - MVP Mainnet launch date. - Mines of Dalarnia (blockchain game) to MVP. - Chromunity (decentralized social network) to MVP. - ERC20 Ethereum Gateway (ability to port Ethereum tokens over to Chromia). - Staking (when MVP is launched staking will be live). As we know in cryptocurrency, news can mean everything for a project’s price movements. If you hold CHR tokens then you should keep your eye on the roadmap’s progress, especially, if the team successfully launches their MVP to mainnet. #### **Where to buy CHR Token?** - [Bybit](https://www.bybit.com/en-US/invite?ref=M2YNXG) \- Currently, this is my favourite platform! Great liquidity and bonuses for deposits. - [Delta Exchange](https://www.delta.exchange/app/signup/?code=VVRPEI&ref=dexplain.com) \- Good for a degen account, no KYC required but low liquidity. - [Binance](https://accounts.binance.com/en/register?ref=X8XUVA60) \- Lots and lots of spot altcoin pairs, especially BTC pairs. - [KuCoin](https://www.kucoin.com/ucenter/signup?rcode=r3D6E6L&ref=dexplain.com) \- Great for longer small cap holds. If you enjoyed reading about Chromia, you can find more [blockchain reviews](https://dexplain.com/tag/project-review) here. Stay safe and trade well. ### What is STP Network? STPT Token Review URL: https://dexplain.com/what-is-stp-network-stpt-token-review/ Last updated: 2021-11-30T14:39:33.000Z STP Network has been quietly picking up more attention as they get closer to their [mainnet launch day](https://dexplain.com/six-crypto-mainnet-launches-and-hard-forks-to-watch/). Here we will take a closer look at what STP Network is building along with a quick STPT token review. And we will cover what we know so far about the STPT mainnet launch. The team has come alive during August to build up the excitement to their mainnet launch, ramping up announcements. Recently, they have published several new partnerships: - ****OIN Finance**: a gateway into DeFi built on Ontology. - ****Travala**: increased adoption with STPT being available for buying travel services. - ****Hedgetradehq**: a blockchain-driven social trading platform, STPT is now listed on. Along with announcing a move into the DeFi space. You can now earn rewards by participating in there [new liquidity mining program](https://twitter.com/STP%5FNetworks/status/1296698649527934976?ref=dexplain.com) for STPT token via Uniswap. The program boasts an estimated ****APR of 120%**, which is very high and will surely attract the yield farmers. A large grant of 50 million STPT is available for teams that build DeFi products integrated with STP Network. ## **What is STP Network?** Standard Tokenization Protocol is a decentralized network that will facilitate access to digital assets for anyone – no matter your location. STP Network will achieve this by using an on-chain Compliance Validator. This can be seen as a framework for ensuring complete compliance at all relevant regulation levels. Such as KYC, AML, accreditation. Along with regional specific requirements such as holding periods, vesting, or ownership concentration. ![](https://dexplain.com/content/images/2021/11/image-39.png) The platform is an open-source standard that aims to define how tokenized assets are built, issued, sent, and received. All while complying with all necessary regulations. Meaning that assets created on the STP Network are fully compliant with any jurisdictions. The protocol has also been designed with interoperability in mind. Thus, tokenized asset will be transferable across various blockchain platforms. You could compare STP Network to a product such as Binance Launchpad. As the STPT token plays a similar utility role as BNB for purchasing tickets to enter the ICO/IPO. However, STP will also enable the tokenization of any asset and allows for staking rewards. ## **STPT Token Review** Currently, STPT can be used by holders to participate in events hosted on [Blockzone](https://blockzone.com/?ref=dexplain.com). These are airdrops, bounties, Micro Token Offerings (MTO), virtual staking, and liquidity mining. - Recent Price: $0.038 - Market Cap: $31M - Circulating Supply: 818,409,893 STPT - Total Supply: 1,942,420,283 The price has been trending upwards as the STPT mainnet and token swap date get closer. As of writing, STPT is up by ****over 130%** in the last 30 days. ![](https://dexplain.com/content/images/2021/11/image-40.png) ## ****STPT mainnet Launch?** **When? ETA: Q3 2020 (September 30th or earlier)*. Early July we saw STP Network launch a new DeFi aggregator on their website Blockzone. This came with a ****50 million STPT** grant to DeFi projects that will integrate with the STP ecosystem. Much of their community believe the project will be jumping aggressively into the DeFi trend. This is good news as [DeFi](https://dexplain.com/tag/defi) is the hottest market trend right now. However, we should note the team has not published an updated roadmap or clarified any details further blockchain details. Nor have we seen any STP Network in testnet or any source-code being published on github. The source for their mainnet launch is simply a vague answer in their telegram group. Keep your eyes peeled for future announcements on their socials. Importantly, a roadmap outline on how they plan to attract validators to secure the network would inspire confidence. If everything goes to plan, STP Network should follow a DPoS consensus model. Which means there will be ****staking** and ****rewards** for holders. Their tokenomics idea is that revenue generated by token issuance and the on-chain launchpad will go into the staking pool. These collected fees will then reward validators and stakers participating in consensus. Stay safe and trade well. ### Best Crypto Indicators For 1 Hour Trading Strategy URL: https://dexplain.com/best-crypto-indicators-for-1-hour-trading-strategy/ Last updated: 2022-11-14T22:00:25.000Z The biggest profit in the crypto markets, such as [Ethereum](https://dexplain.com/tag/ethereum) trading, is made by day trading. This is because [Cryptocurrency](https://dexplain.com/tag/cryptocurrency) price movements happen in flashes. It only takes a matter of hours for trends can change completely. Here we will look at the best crypto indicators for a 1 hour trading strategy. The idea is to enable you to capitalize on the smaller market movements. There is less chance to be burnt making shorter lasting trades, specifically, day trading. You may have even labelled off crypto trading as being a game of chance, however, there’s much more to it. One way to ensure results is to use the best crypto signals for day trading. If you need help buying crypto, then check out our guide on [buying Ethereum with a bank card](https://dexplain.com/how-to-buy-ethereum-with-a-credit-card-on-binance/) instantly. ## Best Crypto Indicators when day trading With day trading, you can take advantage of all the smaller price movements. Which do get overlooked when analysts break down the long-term trends of the industry. Furthermore, when trading cryptocurrency off an hourly chart you can use these indicators for any market trend. It doesn't matter if it is bearish or bullish. This is interesting even if you plan to be a long-term Ethereum or [Altcoin](https://dexplain.com/tag/altcoins) holder. As markets do go through periods of being stagnant - where you will question your long term investment decision. [![](https://dexplain.com/content/images/2022/08/bybit-mid-banner.png)](https://www.bybit.com/en-US/invite?ref=M2YNXG) On the other hand, if you monitor charts with smaller time-frames then you can make endless profitable trades. Because there are always price movements at smaller time frames. Remove emotions, and trade the chart. ## 1\. Advantages Of The 1 Hour ETH Chart First let’s take a look at this weekly chart ETH/USDT chart: ![](https://dexplain.com/content/images/2021/11/ETHUSDT_2021-11-30_02-00-44.png) You can definitely see 2020 started with upwards momentum, but to make profitable trades watching a weekly chart, you need to be able to catch the brief spikes - such as the top in February. And those brief spikes are hard to catch, aren’t they? Now, let’s take a look at a 1 Hour ETH/USDT chart: ![](https://dexplain.com/content/images/2021/11/image-1.png) ### **Looks much more interesting, right?** As you can see, 2020 Ethereum price movements may look like it has only had one upwards movement to those who place their trades only looking at the long-term picture. The 1H chart is painting a different picture. Using the best crypto indicators for day trading lets you spot many different opportunities on the ETH/USDT market - 24 hours a day if we want to be precise. There are three major benefits of trading cryptocurrency at lower time frames off a 1 hour chart: 1. Making more trades means you have more opportunities to make profits. 2. You can still trade in the direction of the bigger time frames to catch profits from long-term trends. 3. Sticking to smaller trades ensures that losses are smaller. ## 2\. Best Crypto Indicators For Day Trading [Momentum indicators](https://www.thebalance.com/how-to-trade-with-the-momentum-indicator-1031195?ref=dexplain.com) are the most relevant when trading the 1-Hour chart. This is because these types of indicators react faster to market movements. Remember we are looking to capitalize off price movements within smaller time frames. The faster an indicator reacts, the less likely it is giving us a wrong signal. With that in mind, our besy crypto indicator of choice for trading the 1 Hour Ethereum chart is the MACD. Let’s take a look at a trade: ![](https://dexplain.com/content/images/2021/11/image-2.png) Here, after the MACD showed me a crossover (the blue line crossed over the orange line) which indicates growing momentum, I entered a trade at the 239.50 mark. For the moment this looks like it will be a fairly standard trade, however, the interesting part happens at the 241.80 mark where I nearly panic exited the position. This was due to seeing that big red candlestick. This is where sticking to the fundamentals of your day trading strategy is crucial, because we can clearly see the MACD is not showing another crossover (the big green arrow). So there is no reason for me to believe a reversal is going to happen. Whereas when we get to my exit point, at the blue mark 244.40, we can see that the MACD is indicating the end of the upwards trend. We can see that the histogram is starting to move towards negative numbers. This was confirmed very shortly after with a downwards crossover, followed by the ETH price plummeting down. A very nice profitable trade, which sets you up perfectly to buy back in at the next crossover. ### RSI Trading Indicator Lastly, no day trader working off momentum indicators would be complete without the RSI. Let’s take a look at a trade using our second best crypto indicator known as the **Relative Strength Index**. ![](https://dexplain.com/content/images/2021/11/image-3.png) Here, we have an example of a trade starting from the other direction, where I have been holding ETH while the market has been in a sideways direction (the first black arrow on the left). The massive green candle broke the sideways trend which could indicate the market is breaking out into a bullish trend, but we also see that the RSI indicates it has become immediately overbought. As the RSI has crossed over 70 this is an indication that the market is overbought. I can now expect that this breakout will most likely turn out to be a fakeout. As a result, once the big bullish candle closed I aggressively placed a SELL order and was able to sell at the 229.50 mark. The next candle closed lower, meaning that my expectations of a fakeout were further confirmed. I decided to let the trend ride for a bit as the downwards momentum started, currently, I am holding USDT - so looking for my next entry point. > **Quick tip:** I recommend setting your RSI indicator to highlight between the 60 to 40 levels which will allow you to quickly react to any market movement towards overbought or oversold conditions. After some regular checking, the price had plunged and the RSI was heading below the 30 level. An RSI below 30, indicates that the market is becoming oversold and we can expect a reverse trend soon. With this in mind, I placed a buy order at the 223.50 mark which set me up nicely to ride the market’s new upwards trend. [Crypto Exchanges: Where To Sign Up?Which cryptocurrency exchange should I use? List of best platforms for trading crypto on spot or futures: Bybit, Delta, Binance, and KuCoin.![](https://dexplain.com/content/images/size/w256h256/2021/12/dexplain-brain-2-1.png)Decentralized Explained | dExplainmf\_reason![](https://images.unsplash.com/photo-1640340434855-6084b1f4901c?crop=entropy&cs=tinysrgb&fit=max&fm=jpg&ixid=MnwxMTc3M3wwfDF8c2VhcmNofDUyfHxleGNoYW5nZXN8ZW58MHx8fHwxNjQyNjEyNTA2&ixlib=rb-1.2.1&q=80&w=2000)](https://dexplain.com/crypto-exchanges-where-to-sign-up/) These are my favorite techniques when day trading. You can learn how to use them on Binance in the [following tutorial](https://dexplain.com/how-to-set-up-your-1-hour-chart/). I recommend using the best crypto indicators outline in our article when day trading. It is a good idea to use both the RSI and MACD indicators combined when trading, as you can use one indicator to confirm the other. If you enjoyed this trading tutorial be sure to check out some of our other [cryptocurrency guides](https://dexplain.com/tag/crypto-trading/). Take care and trade well. ### Cold Staking and Privacy Focused DeFi coming to Qtum URL: https://dexplain.com/cold-staking-and-privacy-focused-defi-coming-to-qtum/ Last updated: 2021-11-30T10:35:29.000Z Qtum’s next [mainnet hard fork](https://dexplain.com/six-crypto-mainnet-launches-and-hard-forks-to-watch/) will enable ****Cold Staking** for the first time on the network. The team will then move to activate the Phantom Protocol which will bring privacy to smart contracts. Essentially, this could lead to Qtum DeFi products will have a focus on privacy for users. A move that would see Qtum combining two recent market trends: DeFi and confidential assets. We could see lending protocols such as Compound or Balancer deployed. Meaning the yield farming craze on [Ethereum](https://dexplain.com/tag/ethereum) could happen on Qtum. Only there will be an added bonus of protecting user privacy. With Qtum’s cold staking update and privacy focused DeFi products, it is definitely an exciting time to be a holder. Furthermore, [the team](https://qtum.org/?ref=dexplain.com) has also outlined plans for optimized gas consumption. Something that will surely excite current DeFi users – who have been facing massive gas prices on Ethereum. ## **Cold Staking Hard Fork Details** Qtum cold staking hard fork will happen at ****block 680,000** as per their [official announcement](https://twitter.com/QtumOfficial/status/1283306360428539905?ref=dexplain.com). Thus, it will happen in roughly 11 days on the 28th August. You can consider this hard fork to be mandatory. Consequently, all network participants need to upgrade their full nodes or their Qtum QT wallets to support offline staking. If you do not use the official QT wallet, you should check with your wallet provider or exchange if you need to do anything. ## ****Why is Cold Staking so important?** ****Offline staking**. This will be one of the biggest protocol changes to Qtum to date. Since launch, it has only been possible to stake using online nodes. As a result, QTUM holders that could not run a node were stuck. You did not have many options for staking unless you wanted to trust a third party. The new qtum cold staking feature enables more holders to participate in consensus. Thereby, ensuring the network is more distributed and secure. Excitingly, there new feature will even allow you to stake your friend’s coins in a non-custodial manner. ## **Plans for Privacy DeFi** Once the mainnet upgrade is live, the team will proceed to with the next stage of their Q3 roadmap: ****Qtum Phantom**. Which is a confidential assets solution for smart contracts, imagine [DeFi protocols](https://dexplain.com/tag/defi) with enhanced privacy! Along with optimized gas consumption which will keep transaction cost down. Both the mainnet upgrade and phantom protocol are great news for the future of the Qtum platform. Meaning they can both influence the asset’s price. ## **Hard Fork Price Reaction** Let’s take a quick look at a recent price chart. To see how traders are reacting to the upcoming cold staking release. ![](https://dexplain.com/content/images/2021/11/image-35.png) As of today, Qtum is trading over ****$3.50** up by ****+22.9%** over the last 7 days. And the price trend is up by over ****38%** the last 30 days. We can see the initial price breakout happened early July and the price has been trending upwards ever since. Recent resistance levels are being smashed and daily trade volume is increasing. Overall, the market has decided the upcoming cold staking updates are positive. Investors could banking on an exciting future of privacy DeFi meets yield farming powered by Qtum network. ## **What is Qtum?** An open-source [blockchain platform](https://dexplain.com/what-is-elrond-erd-blockchain/) that supports decentralized applications powered by solidity smart contracts like Ethereum. However, it uses a UXTO based transaction based on Bitcoin with a proof-of-stake (PoS) consensus model. The idea is that the design makes the network as secure as [Bitcoin](https://dexplain.com/tag/bitcoin). Along with, the [scalability](https://dexplain.com/why-do-so-many-blockchains-rely-on-sharding-for-scalability/) options sought after by large organizations. Stay safe and trade well! ### How to buy Ethereum with a Credit Card on Binance? URL: https://dexplain.com/how-to-buy-ethereum-with-a-credit-card-on-binance/ Last updated: 2021-11-30T00:08:32.000Z [Binance](https://dexplain.com/tag/crypto-tutorials/) is the leading cryptocurrency exchange on the market, making it easy to buy Ethereum with a credit card instantly. With over 500 different coins available, it is especially popular in the [Altcoins](https://dexplain.com/tag/altcoins) trading world. Their cryptocurrency trading platform features some of the lowest trading fees while being a secure place to buy and sell cryptos and tokens. Binance also makes it very easy to buy [Ethereum (ETH)](https://dexplain.com/tag/ethereum/) with fiat currency, using your credit or debit card. Alongside their own fiat gateway, Binance has partnered with notable third-party payment processors such as Simplex, Koinal, or Mercuryo. This ensures there is an accessible payment option regardless of your location. Purchasing Ethereum (ETH) on Binance with your card is also very easy thanks to their terrific user interface. You will be able to [buy ETH fast on Binance](https://www.binance.com/en/register?ref=X8XUVA60), and enjoy some of the best rates on the market. Step one for trading crypto is to buy cryptocurrencies so it is in Binance’s best interests to offer you the best rate. Otherwise, you may choose to trade elsewhere. ## **Before buying ETH with credit or debit card** - Mastercard and Visa supported. - Minimum purchase amount starts at $50. - For the best available rate complete Know-Your-Customer (KYC) verification. In this article, we will explain how you can buy Ethereum with your credit, debit card immediately on the Binance trading platform. Before we start, you will need to create an account – don’t worry though account creation is free. ## **How to buy Ethereum with a credit or debit card** First you need to head over to [binance.com](https://www.binance.com/en/register?ref=X8XUVA60) (****use our referral to sign up and receive rebates!**), before you login. Always make sure you are on the right domain. Due to the cryptocurrency exchange’s popularity it is a popular target for phishing scammers. Log in to your account and you will immediately see ****Buy Crypto** at the top left followed by your currency. For this tutorial we want to buy Ethereum with a credit or debit card, using your fiat currency. There are two options that interest us: ****Credit/Debit Card** or ****Third Party Payment**. ![](https://dexplain.com/content/images/2021/11/buy-ethereum-with-credit-card.png) Buy ETH with credit card on Binance ### **What is the difference between the two payment options?** #### **1\. **Credit/Debit Card (Binance Gateway)** The first option uses Binance’s own fiat gateway (a payment processor). In our experience, this will give you the best rate for buying Ethereum (ETH) directly into your trading account if available for you. Note that you need to have completed the Personal Details verification level on your account. You can do this by clicking the User Center icon (on the top right), then Identification followed by clicking ****Verify** to start the process. Generally, you can complete the verification process within 15 minutes as it is automatic. The platform has restrictions on the card holder location. You can only use Visa if you are from the European Economic Area (EEA) countries, Russia, Ukraine and the UK. Whereas you can use Mastercard payments in the following countries: Brazil, Colombia, Czech Republic, France, Germany, Indonesia, Italy, Latvia, Luxembourg, Mexico, Netherlands, Norway, Poland, Russia, Slovakia, Slovenia, Spain, Switzerland, Turkey, UK, Ukraine. #### **2\. **Third-party Payment (Mercuryo, Simplex, Koinal, BANXA)** If Binance Gateway is not available due to your card type, location or you do not want to verify your Binance account, then do not worry you can use a third party payment processor. To purchase [crypto](https://dexplain.com/tag/crypto) you will still need to provide some credit/debit card details, such as the card holder name and the issue country. So if Binance Gateway is available in your location it makes sense to complete the KYC on your account to use it. However, if you do not have the time to wait then the third party payment option is quick and efficient. In the following example we have selected ****Credit / Debit Card*** from the ***Buy Crypto** menu. The next steps are very similar, regardless of which payment processor you select, so do not worry if you decide to choose a different one. Once you have selected your payment option, the next menu will open: ![](https://dexplain.com/content/images/2021/11/step-1.png) 1. First choose the local fiat currency you want to pay with (in our case USD) and input the amount you want to spend. Remember the minimum amount will be $50. 2. Select the cryptocurrency you want to buy from the second dropdown menu. We would like to buy Ethereum so have selected ETH. 3. Click Buy ETH to move on to the next step. You will now need to provide your card details to complete the transaction and receive your Ethereum directly into your Binance trading account. ![](https://dexplain.com/content/images/2021/11/step-2.png) 1. Fill in your name, card number and expiration date. The security code is the three digit number that is usually on the back of the card. 2. Click ***Next** to proceed, where you will need to provide your billing address. ![](https://dexplain.com/content/images/2021/11/step-3.png) 1. Now fill in the billing address details to match for your selected bank card. Take care when you enter your billing address as incorrect details will cause your payment to fail. 2. Click ****Add a new card*** to move on to the final step. ### **Final Step to buy ETH with your card** A final summary of your transaction to buy Ethereum with a credit card will appear. It will look similar to the following: ![](https://dexplain.com/content/images/2021/11/step-4.png) 1. Make sure everything is correct and you are happy with the amount of Ethereum you are going to buy. You will only have a limited amount of time to confirm your order. 2. Click ****Confirm*** to initiate the transaction. One thing to note is that although you will be able to trade with other cryptos immediately, you will not be able to withdraw your ETH from the platform until 24 hours after the purchase. #### **To Conclude** ****Done!** You now know how to buy ETH on [Binance](https://www.binance.com/en/register?ref=X8XUVA60) quickly using their fiat on ramp options. Your ETH will be available immediately in your trading account, meaning you can use it to start buying and selling other cryptocurrencies. As you may have already noticed during the process, using the dropdown menus you can choose to buy other cryptocurrencies such as [Bitcoin (BTC)](https://dexplain.com/tag/bitcoin) or even a stablecoin like USDT. ### Bancor V2 Launches with new Dynamic Liquidity Pools URL: https://dexplain.com/bancor-v2-launches-with-new-dynamic-liquidity-pools/ Last updated: 2021-11-30T09:52:47.000Z Bancor, [decentralized exchange](https://dexplain.com/tag/decentralized-exchange) enabling traders to swap [Ethereum](https://dexplain.com/tag/ethereum) and EOS tokens, has successfully launched ****Bancor V2**. Finally, bringing new Dynamic Liquidity Pools to the forefront of the platform. These upgrades have promised to dramatically improve the overall user experience for traders and liquidity providers. Currently, the pool contracts are in beta mode.Thus there is a liquidity cap on each pool at $1 million USD. A **pool manager* will remove the limits later once the contracts are safe. The main change to these liquidity pools is the introduction of external on chain price oracles. Excitingly, they use Chainlink, aiming to solve what Bancor refers to as ****DeFi’s dirty little secret***. More recently, [1inch launched Mooniswap](https://dexplain.com/mooniswap-the-new-automated-market-maker-by-1inch/) which also tackles the problem of impermanent loss. ## Bancor V2 launches – Key Features: - ****Single-token exposure**: 100% exposure to a single asset. - ****Staked Balance and Current Balance**: each liquidity pool will now have a total amount of tokens staked (provided by liquidity providers) and also a current balance (the total amount of tokens held in the reserve. - ****Dynamic Weights**: the pool’s reserve weight will update automatically as a way to incentivize market participants into providing liquidity that will equalize the current balance with the staked balance. This is a new concept referred to as Liquidity Amplication and will greatly reduce slippage. - ****Price Feeds**: oracle driven price feeds powered by Chainlink will ensure that after arbitrage opportunities are taken. The pool price will become equal to the market price. ![](https://dexplain.com/content/images/2021/11/image-20.png) Currently, the only pool deployed with Bancor v2 launch is to trade BNT/LINK. Several other launch pools such as LEND, REN, renBTC, and ENJ will launch. And we would expect various DeFi token assets to follow quickly. ### Solving Impermanent Loss [Decentralized Finance (DeFi)](https://dexplain.com/tag/defi) has seen a major boom throughout the industry in recent months. Especially Automated Market Maker (AMMs) platforms such as Uniswap, Curve Finance, Kyber Network, and Balancer. There is now over ****$692.5M USD** supplied to these protocols in liquidity or staking. The rapid growth has been astounding, however, there is a major barrier that could stop AMMs achieve widespread adoption. Which is how to solve the problem of ***impermanent loss** for liquidity providers**.* Who are arguably the most important actors in an AMM platform because without liquidity no traders will use the protocol. With Bancor v2 launching to mainnet we may finally have an answer. Impermanent loss is the unique type of loss felt by liquidity providers due to crypto assets being very volatile. For example, Uniswap does not calculate the price of an asset by checking the market rate. It works off an inbuilt algorithm of supply and demand. If the price of ETH drops or increases quickly on a centralized exchange. Then the arbitrageur trading between Uniswap and the CEX always profits the most. Even though the liquidity provider is technically taking much more risk. ### External pricing data with Chainlink Bancor has taken steps to solve this problem with its new ****Dynamic Automated Market Makers (DAMMs)**. These will use oracle-driven price feeds along with a combination of incentives. A new analytics platform will allow users to easily find which pools are providing the best returns. ****Bancor Data** will be the name of the analytics platform. So far there is no date for its release, the team did publish a screenshot on social media. It appears to show an interface very similar to [Uniswap Analytics](https://uniswap.info/?ref=dexplain.com). ![](https://dexplain.com/content/images/2021/11/image-21.png) The Bancor v2 launch has been very much anticipated by DeFi enthusiasts, DEX traders, and BNT token holders alike. If the design works then other existing AMM platforms will have to adopt a similar architecture. Alternatively, they risk losing the bulk of their liquidity providers moving to Bancor v2. Stay safe and trade well! ### What is UniCrypt? UNCX and UNCL Token Review URL: https://dexplain.com/what-is-unicrypt-uncx-and-uncl-token-review/ Last updated: 2021-12-03T12:28:59.000Z [UniCrypt](https://unicrypt.network/?ref=dexplain.com) is a decentralized services provider which offers several ways for DeFi projects to build community trust and keep users safe. Famously, UniCrypt created the first-ever [liquidity locking smart contracts](https://etherscan.io/address/0x17e00383a843a9922bca3b280c0ade9f8ba48449?ref=dexplain.com#code) for Uniswap on [Ethereum](https://dexplain.com/tag/ethereum), known as Proof-of-Liquidity or POL. From there the project continued to develop new features, combining liquidity locking with a decentralized launchpad. Here we will take a look at what is UniCrypt along with reviewing the tokenomics of UNCX and UNCL. ## UniCrypt Services Currently, we find three core services on the platform: - **Liquidity Lockers**: these are smart contracts that enable teams to publicly lock liquidity on [Uniswap](https://dexplain.com/tag/uniswap) or other AMMs for a predetermined period. Essentially, it’s a guarantee to investors that the project developers can’t drain the pool of all the funds. A key innovation is UniCrypt’s lockers will be able to migrate liquidity to Uniswap V3 when the time comes. - **FaaS**: This is a yield farming-as-a-service protocol that enables the creation of a farm for any token. Launch a farm in a couple clicks using the UI, all automatic with no coding necessary. - **Launchpad**: Perhaps the most interesting service, a **100% decentralized and automated presale platform** that is connected to the liquidity lockers. Once the presale ends a portion of the raised funds (between 30% to 100%) will create the DEX pair on a supported AMM and the liquidity will be locked. ![](https://dexplain.com/content/images/2021/12/unicrypt-UI.webp) The platform also features [a trending](https://unicrypt.network/trending?ref=dexplain.com) filter that lets you quickly find new ILOs or token locks across all networks. - Sidenote the UI on this platform is 10/10, hope other DeFi developers are taking notes! Remember all the tech on UniCrypt is available for anyone to use meaning it is an open market. Of course, that’s the beauty of decentralized finance, just always do your own research before entering any sale. ## Tokenomics The UniCrypt is a two token ecosystem, [UNCX](https://info.uniswap.org/token/0xaDB2437e6F65682B85F814fBc12FeC0508A7B1D0/?ref=dexplain.com) is a deflationary governance token that provides holders with voting power. And, [UNCL](https://info.uniswap.org/token/0x2f4eb47A1b1F4488C71fc10e39a4aa56AF33Dd49/?ref=dexplain.com) is an inflationary token for farming rewards. ### UNCX Token The main use case is holding 4 UNCX to participate in Round 1 (which is the first 2 hours) of a token sale via the launchpad. Currently, the total supply is 48,650 UNCX and no new tokens will ever be minted. The supply can only go down as the team will randomly burn UNCX through buybacks from collected protocol fees. ### UNCL Token A reward token for liquidity providers on certain Unicrypt farming pools. Additionally, you can participate in Round 1 of presales on the launchpad by holding 50 UNCL. Furthermore, UNCL’s inflation rate is halved every year to ensure token emissions are not too high. ![](https://dexplain.com/content/images/2021/12/farms.webp) One difference is on the xDai blockchain where the top 100 UNCX & UNCL holders will also receive a share of the generated presale fees on that network. ## Looking to the future UniCrypt is offers services for tokens across four networks: Ethereum, [Binance Smart Chain](https://dexplain.com/tag/binance-smart-chain), xDaiChain, and Polygon. Great to see the development team is not falling victim to any tribalism around one blockchain. Currently, the platform supports liquidity locking for six different automated market makers: Uniswap, [PancakeSwap](https://dexplain.com/tag/pancakeswap), JulSwap, HoneySwap, [SushiSwap](https://dexplain.com/tag/sushiswap), and QuickSwap. Meaning there is **a big potential to add support for more AMMs to increase revenue**, think 1inch or [SwipeSwap](https://dexplain.com/tag/swipe-wallet). Remember fees are used to buyback and lock or burn UNCX/UNCL tokens. ![](https://dexplain.com/content/images/2021/12/unicrypt-1.webp) **More Partnerships**: Currently, UniCrypt is an official partner of the analytics platform [DexTools](https://www.dextools.io/?ref=dexplain.com), has auditing partners such as [ChainSulting](https://twitter.com/chainsulting?ref=dexplain.com) and [Hacken](https://twitter.com/hackenclub?ref=dexplain.com), and a KYC partner [Pinpoint Capital](https://twitter.com/PinpointCapital?ref=dexplain.com). Given that UniCrypt’s services are all aimed at **making the DeFi space safer for users**, our opinion is the potential for strategic/collaboration partnerships here is endless. For example, major players such as Solana or Cosmos would consider UniCrypt a positive asset to their emerging ecosystems. Expecting to see announcements as the platform grows! - Note that UNCX & UNCL also exists as BEP20 tokens. In the past [Binance exchange](https://dexplain.com/tag/binance-exchange) has been quick to list innovative DeFi projects building on BSC. Just speculation at this point, but something to consider! **New Networks**: The dev team is already proving they’re comfortable building on any EVM compatible blockchain so we could expect to see releases on [Fantom](https://dexplain.com/tag/fantom), Huobi Eco Chain, or [TomoChain](https://dexplain.com/tag/tomochain) next. Exciting times ahead! ### Yfv Finance launches VALUE and Governance Vault URL: https://dexplain.com/yfv-finance-launches-value-and-governance-vault/ Last updated: 2021-12-01T14:09:00.000Z [Yfv Finance’s](https://dexplain.com/tag/yfv-finance/) community voted at 99.87% agreement to migrate YFV to VALUE. This vote follows a plan to launch [Value Liquidity](https://dexplain.com/yfv-finance-plans-to-migrate-liquidity-from-balancer/), which would be a fork of Balancer. Currently, the platform uses Balancer in the backend for pools. Meaning liquidity providers deposit assets in Balancer pools and then stake BPT to earn rewards in YFV. With Value Liquidity and rewards being issued in VALUE token, the platform opens up their roadmap for further growth. Next on the roadmap is [Vault products](https://dexplain.com/yearn-finance-vaults-explained/), namely the much-anticipated Governance Vault. Which has just launched! ## What is YFV’s Governance Vault? Presented as a supercharged [yield farming](https://dexplain.com/tag/yielf-farming/) technique, the Governance Vault looks to create a new DeFi strategy. Essentially, it will combine many aspects of the YFV & VALUE ecosystem together to generate value. Users can stake YFV tokens, which automatically enter farming and lending strategies. Stakers will earn several benefits: voting power, vUSD + vETH, and also rewards in VALUE tokens. More importantly, Governance Vault Stakers can look forward to earning a percentage of the profits generated from **all future** Value Vault strategies. **It has not all been glory…** the Yfv Finance developers recently had to admit to a colossal error. They permanently lost access to over $250k worth of BAL tokens in a contract. Originally, the plan was to use the ecosystem’s BAL rewards to buy YFV tokens on the market. - YFV is the first farming protocol whitelisted to earn BAL. This mistake might make Balancer wary of giving future farming protocols rewards. **Looking to the future…** YFV is trading on several high volume exchanges such as Bithumb Global and Huobi Global. Hopefully, they will confirm support for the token swap to VALUE for added attention. All the eyes should be on their upcoming Vaults products. If these can provide high APY for deposits, then the users will come. As more value is locked up in the platform, the more attention VALUE will receive from [bigger industry](https://dexplain.com/tag/binance-exchange/) players.