Cryptocurrency News

UniLend Finance: Huge Price sours and Huobi Listing ahead of its V2 Launch

UFT/USDT Trading Pair now listed on Huobi Global

On September 30, UniLend Finance announced the successful listing of their token UFT on Huobi Global Exchange via the UFT/ USDT trading pair. 

In addition to being listed on Binance, GateIO, Uniswap and many major exchanges, the UFT tokens got listed on Huobi Global Exchange. Huobi Global Exchange is one of the world’s leading crypto exchanges with supporting over 1000 trading pairs and more than 600 cryptocurrencies. Increasing UFT exposure to Huobi’s hundreds of million users and bringing them to the world of permissionless borrowing and lending.

A closer look at what V2 has to offer

UniLend Finance is building multichain permissionless lending and borrowing protocol for All ERC20 tokens. UniLend is currently undergoing a major protocol update that will allow anyone to start lending and borrowing any ERC20 token just like anyone can start trading any token on a decentralized exchange (DEX) without approval/permission. Their vision is to act as a Futuristic Base Layer for all DeFi applications. 

UniLend Finance’s V2 brings the dual asset pools for lending & borrowing with price feed oracles and gas optimization. It also lists features like Flexible Lending, Flash Loans, Non-Fungible Liquidity, Concentrated Liquidations, On Chain Price Feed, Security and a Seamless User Experience. UniLend v2 mission is to “Make Every Digital Asset Productive”

As per the blog released by the team, UniLend v2 Code is already live on Github. Emphasising the importance of the security of the protocol,  V2 smart contracts are audited by two leading blockchain auditors, PeckShield and Slowmist followed by a Multi-Tier Bug bounty program with developers platform ImmuneFi.

Bullish Sentiment on Binance

With being listed on Huobi Global and long-awaited UniLend’s V2 upgrade approaching its launch, UFT price skyrocketed to 130% over the last month to a six-month high, gaining huge volume on Binance, the world’s leading crypto exchange.

The Path Forward

With V2, an era of a new financial system will impact the lives of billions of people with inclusion into DeFi. With more than 100 partners in the space, ongoing developments remain a top priority as the team continues to empower the DeFi ecosystem as it gets closer to deploying its eagerly anticipated protocol. With this significant protocol development, UniLend will be able to tap into the over $500 billion cryptocurrency market cap, holding its fundamental belief to keep a user-first philosophy at the centre of all its developments.

Having launched and witnessed phenomenal growth for V1 with 25+ asset lending pools and $50 million worth of Flash Loans utilised across 4 major blockchains: Ethereum, Polygon, Binance Smart Chain and Moonriver, UniLend is all set for V2, keeping its community at the heart of their development.

Crypto Futures Exchange BitMEX CEO Is All Set to Launch the Much Delayed Exchange Token Within 2022

You have probably become aware of the postponement of the launch of BMEX if you have been keeping up with the news and updates on the exchange during this volatile year (2022) for the blockchain sector.

But since the market conditions have finally started taking a turn for the betterment, is BMEX returning? The launch of BMEX was initially pushed back due to the market’s state, but the exchange’s CEO is determined to get it up and running before the year 2022 is over.

The Delay in Launch:

The exchange announced in July that the debut of the cryptocurrency would be postponed because of the conditions in the market.

According to the announcement in July, the company stated:

“Although we are ready to list BMEX, the present market conditions are not ideal, and we want to list the token in an environment that gives it the best chance to reward you, its holders.”

New Announcement About the Launch:

The CEO of BitMEX disclosed this information to CoinDesk during an interview at the Token2049 conference held in Singapore. He stated that the company intends to release its BMEX exchange token before the end of the year.

Furthermore, Alexander Hoeptner, the CEO of BitMEX stated:

“If you launch a token in a market which clearly is not at all at the bottom, then your token will be drained down with the general environment.”

During the announcement, Hoeptner further stated that:

“The people waited for such a very long time. They are able to hold out for one or two more months.”

Adding more to that, Hoeptner explained that the precise launch date would rely on whether or not the team working on the exchange believes there will be another “tremendous dip” in the market shortly. According to him, launching shortly before a drop would emphasize the token’s declining price rather than the exchange’s new features or other successes, such as its registrations in Italy and Switzerland – making it a bad decision.

BitMEX: a Brief Overview

BitMEX is a platform developed for experienced traders in margin trading and leverage trading registered under the International Business Companies Act. The platform is used to create everlasting contracts based on margin trading.

Below are some key points defining the platform in more depth:

  • BitMEX is one of the most advanced peer-to-peer cryptocurrency trading systems. It uses best-in-class APIs to give high-quality trading knowledge and increase investor trust. In addition, the BitMEX exchange provides consumers with precision by assisting them in creating a million-dollar trading account.
  • BitMEX’s leveraged trade contracts aid in the delivery of trades more quickly. In addition, the platform is dependable and offers liquidity to enable Bitcoin transactions. Despite the risks associated with bitcoin, the platform is endorsed by hedge funds worldwide.
  • XBT-USD is one of the most traded perpetual swaps on BitMEX, which has altered the crypto market for the better. With solid trading engine security and novel perpetual swaps, the BitMEX team continues to innovate.

Elrond Launches Maiar DEX Liquidity Reward Program Worth $1.29 Billion

Elrond, a high-throughput blockchain capable of expanding beyond 100,000 transactions per second while maintaining low latency and cheap costs, recently thrilled its community with the huge announcement that It’s debuting a $1 billion liquidity incentive program to help launch its Maiar DEX DeFi platform faster.

According to reports, Elrond’s announcement could be the largest DeFi incentive scheme ever. It’s a big step toward expanding DeFi acceptance beyond the crypto space’s current limitations. Above all, it aspires to make DeFi more widely adopted.

More Details 

The incentives will be priced in MEX,  the Maiar DEX governance, and utility tokens. As a result, Maiar DEX users will receive $1.29 billion in MEX tokens. This will only apply to users who provide liquidity in the EGLD, MEX, and USTC coins. Furthermore, $282 million of the $1.29 billion will be spent in the first month.

The program was slated to commence on November 19, which coincides with the formal launch of the DeFi platform, DEX, which has distributed ownership in the form of payable MEX tokens to over 60,000 accounts.

According to Benjamin Mincu, the CEO of Elrond Network, “By distributing Maiar DEX ownership to the next billion users, we lay the foundation for a truly global financial system that is accessible to everyone, everywhere.”

Maiar DEX has Been Scrutinized

An appealing feature is that the smart contracts created for the Maiar DEX have been rigorously audited and formalized via Runtime Verification. In reality, the platform has been put to the test in several financially rewarded public events, demonstrating its performance and ability to scale even in the most extreme situations.

All of this, when combined with the Maiar App, which allows first-time users to receive a safe crypto wallet in under 1 minute with just contact information, and the Maiar Exchange’s attractive and easy-to-use UX creates a genuinely strong new standard aimed at driving DeFi growth.

More Incentives

Following the launch and anticipated success, more incentives and schemes have been outlined. According to reports, after the first month, efforts to boost usage will be followed up with a follow-up incentive campaign targeted at users of the system’s main DeFi platforms. These users will also be able to claim MEX tokens based on their usage of products like Uniswap, Pancake Swap, and Sushi Swap.

Elrond Plans to Become the Future of Crypto

Elrond is a brand-new blockchain architecture built from the ground up to deliver a 1,000-fold increase in throughput and execution speed. 

Elrond accomplishes this by introducing two major innovations: a unique Adaptive State Sharding mechanism and a Secure Proof of Stake (PoS) algorithm, both of which enable linear scaling while also providing a quick, efficient, and secure consensus process. 

Elrond seeks to become the backbone of a permissionless, borderless, globally accessible internet economy by processing upwards of 10,000 transactions per second (TPS) with 5-second latency and negligible cost.

Uniswap – All You Wanted to Know About the Decentralized Crypto Exchange

Uniswap is a decentralized crypto exchange that operates on the Ethereum blockchain. Let us read on to find out more about the exciting platform. 

If you are a trader or investor, then you would probably know that your crypto trading happens on centralized exchanges. They can be Binance and Coinbase. They are good, safe, and reliable. However, did you know that they are governed by a single authority?

It means that you have your funds in their control. You most likely cannot do anything much if the market goes down. While trading on a centralized platform comes with its own advantages, and there is no denying in that there are few flaws that you may want to know about as well. 

Liquidity is the central issue. When the liquidity is low, then the traders can’t fill their orders. You cannot expect the market to always be active and busy or what is known as a liquid market, and when it is dull, the market is called a narrow market. 

Is there a way out or an alternative? 

Yes, there is. You have Uniswap for doing your trading flawlessly.

What is Uniswap?

Uniswap is a decentralized crypto exchange (DEX). That means traders have more freedom and can make choices of their own. Besides, they are also offering you with a powerful mode where you can trade better. 

The platform was designed in 2018 on ETH blockchain. As most of you know, it is the world’s second-largest cryptocurrency. You can use the platform with all ERC-20 tokens and capitalization with wallet services like MetaMask and MyEtherWallet. 

It is open-source, making it effective to changes and effortless updates. According to data, Uniswap is the 4th largest decentralized finance (DeFi) platform. As of now, it has more than $3 billion in crypto assets stashed away safely in its platform. 

How does Uniswap work?

Its operation is simple. There are two smart contracts called an exchange contract and a factory contract. They are automatic computer programs created to perform particular functions if certain conditions are met. 

The factory smart contract lets you to add new tokens. On the other hand, the exchange contract enables all the token swaps. The ERC20-based token can be interchanged with another on the Uniswap v.2 platform.

How token price is determined

In this platform automated market maker system is used. The price of the coin is either decreased or increased depending on the number of coins. The equation for working would be the price of each token is x*y = k, where the token amount one is x and the token amount two is y. K is a constant value.

How to use Uniswap?

It is quite simple actually because you just need to ensure you have an ERC-20 supported wallet setup. A few of them include Coinbase wallet, MetaMask, WalletConnect, Portis, or Fortmatic. When you have acquired any of the mentioned wallets, you have to add ETH. 

By doing that, you can trade on the platform and pay for gas. You can make your gas payment using three modes, which are slow, medium, and fast. Slow is a cheap mode, while fast is quite costly, and medium hovers between them both. 

Uniswap’s UNI token

This is an exciting feature of Uniswap. The UNI token is also called as a governance token. Holders can vote for changes and new developments on the platform. You can decide on how the minted tokens can be distributed; besides, you also get to have a say on the changes in the fee structure.

It was designed in September 2020 to discourage investors from using the rival DEX SushiSwap. SushiSwap allowed users from Uniswap to reallocate their funds sublimely. They were rewarded with many SUSHI tokens. 

Uniswap designed 1 billion UNI tokens and distributed them to traders and investors who planned on using their platform to counter this. Most of the users have received close to 400 UNI tokens, which amounts to more than $1000. 

FAQs on Uniswap 

 

  • How can Uniswap make money for you?

 

You have to pay a 0.3% fee on a pool contract for every transaction on the platform. It is divided between the liquidity providers according to the share. When you have 50% of the liquidity, you stand to make 50% of the fee. 

 

  • Is Uniswap safe to use?

 

Any platform or system comes with its own share of loopholes. However, Uniswap, for now, is relatively safe because it is a decentralized exchange. In this sense, you can trade between self-custodied wallets, and they do not hold assets. 

 

  • Does Uniswap come with a KYC?

 

No, there is no need for the KYC to be implemented on Uniswap. Probably, this is one of the main benefits of using it over other crypto exchanges. Instead of using the KYC, as a trader, you can perform transactions using your wallet. 

 

  • Can American citizens make use of Uniswap?

 

Well, Uniswap was launched in 2018 in the United States of America. There is no reason why American nationals cannot use the platform. The automated token exchange is based on ETH investors can trade on it. 

What is Neon Exchange – NEX

The World can’t go digital without taking money along with it. The cryptocurrency market has grown sporadically (and parabolically) over the past 9 years years and almost all trades takes place on centralised exchanges where funds are controlled by the entity facilitating the exchange.

Because this is crypto decentralized exchanges is the blockchain answer for users to trade without giving up control of their funds. In view of that let’s see how well NEX measures up and what makes it different from other DEXs.

What is NEX – Neon Exchange?

NEX, also known as Neon Exchange, is a platform for payment services and decentralized crypto trade. NEX aims to combine the performance of centralized exchanges with the trust and security features of decentralized exchanges.

There are three aspects where NEX stands out:

  1. An off-chain trade matching engine which allows NEX to benefit from the performance characteristics of centralised exchanges, while maintaining a decentralized user account model based on the blockchain
  2. Smart contracts where trades are mediated and executed
  3. A payment service where global assets such as NEO can be converted to tokens that can be transferred directly by smart contracts, making them compatible with the exchange

What makes NEX different from other DEXs?

Crypto enthusiasts are all looking forward to a day when one can have cross-chain transactions. Imagine sending bitcoin tokens to an Ethereum wallet. Well, NEX is bringing  that reality closer by allowing trades between Ethereum networks and tokens based on the NEO platform. On the trading volume side, NEX unique publicly verifiable off-chain matching engine can efficiently handle a large volume of trade.

NEX aims to transcend the user experience of decentralized exchanges by storing user’s encrypted private key-side in user’s browser. This preserves the security guarantees of a decentralized account model while allowing users to login into NEX through a traditional web form that asks for a username and password.

NEX Team

Perhaps the first team to have all five cofounders that are also developers. Fabio Cesar Canesin, NEX CEO, is the founder of City of Zion a blockchain and decentralized  development community focused on the NEO network. Fabio was formerly a research engineer at the Oil mega company Schlumberger. 

Don’t fret, NEX also has a marketing team and a host of other very distinguished developers, specialists like product designers, communications and advisors.

Conclusion

NEX is building on Satoshi’s aim for creating blockchain: providing a decentralized platform for trading digital assets. A cross-chain transaction feature for a blockchain platform is long overdue and we look forward to seeing more cross chain innovation in the space. And someday soon we can look forward to seeing hacks and cyber threats to exchanges as things of the past. 

Neon Exchange WhitepaperNEX Website; NEX Twitter; NEX LinkedIn

Remember folks, Crypto is comin!

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