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Updated Jan 12, 2022 at 6:27 a.m. UTC
Jack Dorsey (Eva Marie Uzcategui/Bloomberg via Getty Images)
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press release
PRESS RELEASE. Arkania Protocol has announced its IDO Launchpad for the public, with anti-whale mechanism, KYC and robust security.
12th January, St. Vincent & the Grenadines — The Arkania platform connects promising new projects with the global crypto community, offering developers a chance to showcase innovative new start-ups to individuals who then have the option to support them from the ground floor. Built on Binance Smart Chain, Arkania will integrate other chains in the future to offer an interoperable token launch experience.
Public Friendly with Anti-Whale Mechanism
With some new projects looking to secure massive sales of their token, it has become a common practice to offer private sales to a select number of large volume buyers, often with no cap on the number of tokens available to each buyer. This formula is sometimes even repeated in the public sale allowing “whales” to purchase a huge amount of tokens and later wield the power to manipulate the market for personal gain.
The team at Arkania is acutely aware of this and to combat the issue they have incorporated an anti-whale mechanism in their platform. In combination with KYC requirements, each user will be allocated 1 ticket which equates to an equal chance to participate in IDOs launched on the platform.
Features and Security
Another user-friendly feature is the 10-day “Cooling Phase” between when a participant wins participation in an IDO and then applied for another. This mechanism brings a level of fairness to the platform, allowing other users to apply for the next project launch. Arkania has integrated the decentralized KYC solutions expertise of Fractal, allowing backers to keep their sensitive information private, but allowing them to clear whitelisting on the Arkania platform.
While the platform offers an easy way for enthusiasts and backers to get in early on upcoming launches, it does not forgo the quality of the projects. Each project is meticulously tested against set parameters that include project feasibility, long-term viability, and a security audit. On the other side of the proverbial coin, it significantly reduces the project listing fee, lowering barriers and friction for projects to get on board the platform.
ANIA: A Token for the Public
Arkania’s native BEP-20 compliant ANIA token offers investors and enthusiasts a broad range of benefits on the platform, ranging from discounts, special early access to launches, staking rewards, and community-powered launchpad (converting into a DAO). The pre-sale tokens will be allocated on a first come first serve basis.
The ANIA token is already live, with pre-sale Round 1 successfully completed. Round 2 timeline is as follows:
About Arkania
Developed to address the most pressing problems faced by the crypto community, Arkania is an innovative project, backed by a robust team with vast experience in crypto, cybersecurity, and smart contract development.
The Arkania platform is dedicated to becoming the solution to growing security risks faced by IDO and token sale participants today. The platform’s ease of listing provides crypto projects with a readily available market of backers and enthusiasts. To learn more about the IDO platform, interested parties can visit the Arkania website.
Arkania Socials
Twitter | Telegram | Facebook | YouTube | Medium | GitBook | Instagram
Media Contact Details
Contact Name: Matyas Dousa
Contact Email: [email protected]
Arkania Protocol is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest.
This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
Image Credits: Shutterstock, Pixabay, Wiki Commons
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Chia Network, the energy-efficient, blockchain and smart transaction platform created by BitTorrent founder Bram Cohen, is launching native, peer-to-peer exchange services for Chia wallet holders, the company said Tuesday.
Read More: Chia Network to Develop Prototype for World Bank’s Climate Warehouse
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Decentralized lending platform Aave has launched its permissioned lending and liquidity service Aave Arc to help institutions participate in regulation-compliant decentralized finance.
As opposed to its permissionless cross-chain counterparts on the platform, Aave Arc is a permissioned liquidity pool specifically designed for institutions to maintain regulatory compliance in the decentralized finance (DeFi) space.
The first of 30 entities lined up for the whitelist for Aave Arc was Fireblocks, the institutional digital asset custodian. It explained in a Jan. 5 announcement the pool “enables whitelisted institutions to securely participate in DeFi as liquidity suppliers and borrowers.”
Users of Aave Arc must perform due diligence procedures such as know your customer/ anti-money laundering (KYC/AML) in order to gain access.
Fireblocks also serves as a whitelisting agent for Aave Arc, ensuring other institutions that wish to join the permission pool perform KYC/AML requirements. Aave cannot perform this task itself because it is not a regulated entity such as a bank or other traditional finance institution.
As the whitelisting agent, Fireblocks has already approved “30 licensed financial institutions to participate on Aave Arc as suppliers, borrowers, and liquidators.”
Among some of the whitelisted entities are Anubi Capital, Canvas Digital, CoinShares, GSR, and crypto yield aggregator Celsius.
Related: SBF ‘optimistic’ about institutional crypto adoption in 2022
Aave’s new permissioned liquidity pool aims to onboard more institutions to the burgeoning DeFi space that has $133 billion in total value locked (TVL) as of time of writing. That TVL has grown 4.5 times since Jan. 10 of 2021 according to DappRadar.
While institutions began purchasing cryptocurrency in increasingly sizable portions in 2021, most remained skittish about dabbling in DeFi due to compliance hurdles and regulatory uncertainty.
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Former Goldman Sachs hedge fund manager and Real Vision CEO Raoul Pal thinks that the crypto market cap could increase 100X by the end of this decade.
At the time of writing, the total market cap of the global crypto sector stands at $2.2 trillion, and Pal told podcast Bankless Brasil “there’s a reasonable chance” this figure could grow to around $250 trillion if the crypto network adoption models continue on their current trajectory.
Pal drew comparisons between the current benchmarks of other markets and asset classes such as equities, bonds and real estate, noting that they all have a market cap between “$250-$350 trillion.”
“If I look at the total derivatives market, it’s $1 quadrillion. I think there’s a reasonable chance of this being a $250 trillion asset class, which is 100X from here, which would be the largest growth of any asset class in all of history in the shortest period of time.”
“That will pretty much dovetail in with the idea that 3.5 billion people are using it — that’s just extrapolating the growth numbers of the network. So if [there are] 3.5 billion users in 2030, well the market cap’s going to be something like $250 trillion,” he added.
One thing is for certain, it’s not going to get there in a straight line upward.The total crypto market cap has dropped 6.8% over the past 24 hours amid a significant pullback across most major assets. Bitcoin (BTC), Ethereum (ETH) and Binance Coin (BNB) are 7.6%, 9% and 9.1% within that same time frame.
Related: Bitcoin price drops to $43.7K after Fed minutes re-confirm plans to hike rates
The recent downturn may even be a surprise to Pal, during an interview on Dec. 27, the investor predicted that Bitcoin would have a strong start to 2022 as he believed at the time a period of institutional sell-offs and end of year profit-taking was over.
“It looks like they’re done because the market has been chopping around for the past week, which was the traditional last week of everybody squaring their books,” he said.
In November, Pal predicted that the bull run won’t end in December like the previous cycles of 2015 and 2017, and will instead be extended until around June. Pal cited heavy institutional inflows in Q1 as a major reason behind this.
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Millionaire investor and crypto proponent Kevin O’Leary thinks that the NFT sector could be worth more than Bitcoin in the future.
Speaking with CNBC’s Capital Connection on Jan. 5, O’Leary — also known as Mr. Wonderful — argued that NFTs provide a greater potential to attract capital than Bitcoin due to their ability to tokenize and authenticate physical assets such as cars, watches and real estate:
“You’re going to see a lot of movement in terms of doing authentication and insurance policies and real estate transfer taxes all online over the next few years, making NFTs a much bigger, more fluid market potentially than just Bitcoin alone.”
Mr. Wonderful admitted however, that he is not tied to that bet and will still be investing on “both sides of that equation.”
The former crypto skeptic told Cointelegraph in a recent interview that his change in tune towards blockchain and digital assets was due to the growing trend of regulators warming up across the globe over the past couple of years.
Not everyone agrees with comparisons between Bitcoin and NFTs however, with Coingecko digital marketing associate Khai Ren Kuan telling Cointelegraph that it’s “probably not fair to compare Bitcoin, which is a single asset, to NFTs which are an entire sector.”
Kuan did note however, that the NFT adoption curve in 2022 is only going to increase upwards as the sector is still in its early days:
“I think collectively if you look across all NFTs, and the fact that 2021 was year one of market adoption, there’s definitely still a lot of room to grow.”
“We’ve already got a set of ‘blue chip’ NFTs, but I think the industry is still barely scratching the surface of what NFTs could be and what they could do, particularly if the Metaverse comes to fruition,” he added.
Related: Global search interest for ‘NFT’ surpasses ‘crypto’ for the first time ever
Coingecko recently published a new book called “How to NFT” which provides a rundown for newbies entering the nonfugible space on how to buy, sell, store and mint NFTs. Questioned on whether he thinks the “NFT art narrative” will continue to dominate in 2022, or if the trend will shift towards utility-based NFTs, Kuan said:
“Arts and collectibles are always going to be high on the list as they’re the most beginner-friendly and easiest to understand. In terms of utility NFTs I think what’s probably interesting to watch for is how some NFTs are going to both be art, and have utility.”
“We’ve seen BAYC which the NFT doubles as membership into their ‘club’, and it really helps build a sense of identity and community,” he added.
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The Ethereum ecosystem still has far more developers than rival networks, but they are catching up with a faster rate of growth.
Ethereum competitors such as Polkadot, Solana, and Binance Smart Chain are growing faster in terms of development activity according to crypto research firm Electric Capital which released its findings on the blockchain development ecosystem in a new report on Jan. 6.
It revealed that more than 4,000 monthly active open-source developers work on Ethereum — considerably more than the 680 who work on the Bitcoin network. Across all chains, the total monthly active developers measured was more than 18,400 and the record was broken for the number of code commits by new developers in 2021 with more than 34,000.
The measurements were gleaned by analyzing around 500,000 code repositories and 160 million code commits, which are changes or updates to the code. The report noted that Ethereum, Polkadot, Cosmos, Solana, and Bitcoin are the five largest developer ecosystems overall.
According to the report, Polkadot has around 1,500 developers in total, while Cosmos and Solana are around a thousand each.
Other active ecosystems in terms of monthly developers were Cosmos, NEAR which launched an $800 million developer fund in October, Tezos, Polygon, and Cardano each with more than 250 active monthly developers.
While Ethereum is still dominant — more than 20% of new Web3 developers joined its ecosystem — rival networks have seen greater growth.
“Polkadot, Solana, NEAR, BSC, Avalanche, and Terra are growing faster than Ethereum did at similar points in its history.”
The report compared the average monthly active developers between Dec. 2020 and Dec. 2021, noting that Solana grew by 4.9 times, NEAR had a 4X growth rate, and Polygon’s monthly developers more than doubled. Cosmos had a 70% increase in average monthly active developers and BSC 80% over the course of 2021.
While the development growth figures are impressive for more early-stage projects, Ethereum is still the king. The ecosystem continues to retain the largest network of tools, dapps, and protocols and is 2.8 times larger than its closest rival, Polkadot.
Related: ‘We are 50% of the way there,’ says Vitalik on Ethereum’s development
Solana, Avalanche, BSC, NEAR, and Terra have emerged as DeFi hubs over the past year or so, attracting more developers as adoption increases. DeFi full-time monthly active contributors grew by 64%, and more than 500 new developers contributed code to a DeFi project every month last year aside from January, it reported.
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The Securities and Exchange Board of India (SEBI) has reportedly asked mutual fund companies not to get involved or invest in any type of crypto asset-based investments until the Indian government has come up with cryptocurrency legislation.
The chairman of the Securities and Exchange Board of India (SEBI), Ajay Tyagi, reportedly said Tuesday that the market regulator does not want mutual fund companies to get involved or invest in any type of crypto asset-based new fund offers (NFOs) until the Indian government has come up with cryptocurrency legislation.
There is currently no law governing cryptocurrencies directly in India. However, the Indian government is actively working on cryptocurrency legislation. A crypto bill was listed to be considered in the winter session of parliament but it was not taken up. The government is now reportedly reworking the bill.
Last month, Indian asset management firm Invesco Mutual Fund delayed launching its Invesco Coinshares Global Blockchain ETF Fund of Fund due to regulatory uncertainty around crypto assets even though it was approved by SEBI. The fund is an open-ended scheme investing in Invesco Coinshares Global Blockchain UCITS ETF. It is the first fund in India with exposure to the blockchain ecosystem to receive approval from SEBI.
The underlying fund’s portfolio as of Nov. 2 includes Coinbase Global, GMO Internet, Kakao Corp. SBI Holdings, Hive Blockchain Technologies, Bitfarms, Bit Digital, and Microstrategy.
While the Indian government has not made an official announcement whether it will ban or regulate cryptocurrencies, there are reports that crypto assets will be regulated with SEBI as the main regulator.
Meanwhile, India’s central bank, the Reserve Bank of India (RBI), has been calling on the government to completely ban cryptocurrency, noting that a partial ban will not work. RBI Governor Shaktikanta Das has been saying that the central bank has serious and major concerns regarding cryptocurrencies.
What do you think about SEBI asking mutual fund companies not to invest in any type of crypto asset-based funds until legislation is in place? Let us know in the comments section below.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
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Updated Dec 31, 2021 at 2:54 a.m. UTC
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Also, the more this goes on, the more people start to “think” in bitcoin, ether or some other digital asset. There are plenty of bitcoiners who like to remind everyone that, whatever its price versus the dollar, one bitcoin continues to be worth one bitcoin. Many believe bitcoin, with its censorship-resistant, persistent supply mechanism, could evolve to become the base layer collateral for the global financial system, taking on a role akin to Treasury bonds.
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