There are several thousands of cryptocurrencies out there, known also as altcoins. These coins and tokens all have their own unique features and uses, for example, some are used to help decide the direction the creator company should take, others give you discounts or access to special features. The Coin Guide is a concise summary of the aims and technology behind a certain cryptocurrencies. Insight is crucial in this field. Many projects disguise their progress through complicated jargon, making it hard to distinguish those who are building something meaningful from those who are not.
Hot and cold wallets are used to store your cryptocurrencies, specifically your private keys which grant you access to your crypto assets. They are therefore a crucial element of the cryptocurrency space.
The major difference between hot and cold wallets is that hot wallets are connected to the internet whilst cold wallets are not.
For those holding cryptocurrencies, the choice between cold and hot wallets depends on factors such as the amount of coins you hold, the frequency in which you trade etc.
Hot wallets are connected to the internet and are generally more popular.
Examples of Hot Wallets
Wallet Name
Supported Coins
Platforms
Key Features
Best For
Best Wallet
1,000+
Mobile
Non-custodial, multi-chain, portfolio tools
Overall
Zengo
120+
Mobile
MPC security, beginner-friendly
New crypto users
Binance Wallet
460+
Mobile
CEX integration, fast trading
Exchange users
Bybit Wallet
750+
Mobile, Browser
Secure Web3 access, staking
Web3 and DeFi users
OKX Wallet
330+
Mobile, Browser
dApp support, multi-chain
dApp explorers
SafePal
1,000+
Mobile, Browser
Hardware wallet integration
Hybrid users
CoolWallet
200+
Mobile
Scam protection, Bluetooth hardware option
Security-focused users
CoinSpot Wallet
300+
Mobile, Web App
Australian market focus
Regional users (Australia)
Hot wallet: Enjin mobile wallet
Pros
Instant Access: Always online, making it ideal for frequent trading, staking, and spending.
Free & User-Friendly: Most hot wallets are free and offer intuitive interfaces for beginners.
Mobile Integration: Seamless compatibility with smartphones, wearables, and browser extensions.
DeFi & NFT Ready: Direct access to decentralized apps and NFT marketplaces without needing external tools.
Cloud Sync & Recovery: Many wallets now support encrypted cloud backups and multi-device sync for easier recovery.
Cons
Still Vulnerable to Hacks: Despite improved encryption and two-factor authentication, hot wallets remain exposed to phishing, malware, and SIM-swap attacks.
Custodial Risk: If you store assets on exchange-linked wallets, you’re still at risk from platform failures or regulatory shutdowns.
Privacy Trade-offs: Many mobile wallets now require KYC or link to identity data, reducing anonymity.
Device Dependency: Losing access to your phone or computer can lock you out, especially if recovery options aren’t properly set up.
Limited Offline Protection: Unlike cold wallets, hot wallets are always online, making them unsuitable for long-term, high-value storage.
Cold Wallets
Cold wallets are also known as hardware wallets. They are physical offline storage devices that you plug into your computer to use.
Cold wallets: Clockwise from left, the Ledger Nano X, Trezor Model T and KeepKey
Top-tier Security: Offline storage plus biometric authentication keeps assets safe from online threats.
Broad Asset Support: Compatible with thousands of coins and NFTs across major blockchains.
Advanced Backup Options: Features like Shamir Backup and encrypted microSD recovery reduce risk of loss.
DeFi Access: Secure bridges and apps allow staking and trading without exposing private keys.
Tamper-Proof & Transparent: Open-source firmware and tamper-evident hardware ensure trust and auditability.
Cons
Cost Still a Barrier: Prices range from $79 to $199 depending on features like biometric security and multi-chain support.
Less Convenient for Active Trading: Transferring assets to exchanges for trading still adds friction, though some wallets now offer direct DeFi access.
Setup and Maintenance: Initial setup takes time, and firmware updates require manual steps to maintain security.
Physical Risk: Devices can be lost, stolen, or damaged—though encrypted backups and recovery protocols have improved.
Limited Mobile Experience: Despite Bluetooth and mobile apps, cold wallets remain less seamless than hot wallets for on-the-go use.
Conclusion
While cold wallets still require more effort to set up and use, they remain the gold standard for long-term crypto security. With biometric authentication, encrypted backups, and broader asset support, they’ve become more user-friendly without compromising safety.
Hot wallets, on the other hand, continue to dominate for everyday use. Their integration with DeFi platforms, NFT marketplaces, and mobile devices makes them ideal for active traders and casual users. However, risks from hacks and custodial failures persist—even in 2025.
Best practice: Keep small amounts in hot wallets for daily transactions and trading. Store the bulk of your holdings in cold wallets, and transfer profits promptly to secure offline storage. This hybrid approach balances convenience with protection.
Post.tech is a next generation Web3 social network built on Arbitrum. Post.tech allows you to earn points and tokens simply by using and posting on Post.tech or Twitter (X). Here’s our secret strategy guide on how to get maximum Post.tech points and $POST tokens!
Interacting with other users will give you MAXIMUM points and $POST, so follow us on Twitter so we can $POST you too!
Check out our other SocialFi platform strategy guides:
Post.Tech is a social media platform that operates similarly to its predecessor, Friend.Tech. It offers token-gated channels where users can buy and sell access tokens. Post.tech charges a 10% fee on transactions, which is split evenly between the app and the channel’s owner. The Post.Tech platform has been gaining huge popularity recently, and on 20th September 2023 recorded $875,000 in transaction volume and trading volume exceeding $1.81 million in 24 hours.
How does Post.tech work?
Posting or engaging on either the Post.tech or Twitter (X) platforms gives you rewards. On Post.tech, users will need to create posts and engage with the community. Meanwhile, on Twitter (X), users will need to create tweets or reply mentioning @PostTechSoFi and $post in order to earn points. At the end of each epoch (i.e. week), Post.tech will calculate the number of points earned which can be redeemed for Post.tech’s tokens after the airdrop campaign ends. Users will be able to claim their tokens then.
Will there be a Post.tech $POST token airdrop?
Post.tech have confirmed on their website they will be doing an a $POST token airdrop. To get a Post-tech airdrop, all you need to do is post and engage with the community on Post.tech or Twitter (X).
How to use Post.tech?
Here’s how to set up, use and start earning Post.tech $POST points and tokens.
Posts and engagement on both Twitter (X) and Post.tech give you points, with the latter platform giving you more points. But remember, if you post on Twitter (X), you need to mention @PostTechSoFi and $POST in order to earn points.
Buy and sell profiles
To buy and sell profiles, you will need to deposit at least 0.001 ETH. The advantages of doing this are that you will earn 5% in trading fees when your profile’s shares a traded. You will also increase your reputation on the Post.tech platform, which can lead to extra rewards. You can see the number of points awarded for each post/interaction here.
Claim $POST tokens
At the end of each epoch (i.e. 1 week), Post.tech will finalise your point count. And after the end of the airdrop campaign, Friend.tech will tally up all your points and determine your $POST token entitlement.
How are Post.tech points calculated?
Different interactions on Twitter (X) and Post.tech give you differing amounts of points. Here’s how the Twitter (X) and Post.tech points are calculated:
Points for posting on Post.tech
Here’s how points are calculated for posting on Post.tech:
Shares holding (i.e. purchasing and holding shares on Post.tech): 200k – 15M points
Buy/Sell shares (i.e. profile trading on Post.tech): 30k points (unlimited)
Points for posting on Twitter (X)
Here’s how points are calculated for posting on Twitter (X). Note that each tweet or reply must mention @PostTechSoFi and $POST in order to qualify:
Original tweet: Up to 15k points (5 tweets/day)
Tweet replies: Up to 7.5k points (25 replies/day)
How to get maximum Post.tech $POST points: Strategy guide
Here are some strategies to get maximum $POST points:
Profile trading: Buy and sell newer/cheaper profiles faster to earn more points on profile trading. Remember, there’s no limit on the number of points you can earn through profile trading!
Only hodl “good” profiles i.e those with high engagement posts.
On smaller Post.tech or Twitter (X) accounts, reply to original posts with @PostTechSoFi and $POST. This is so they may also reply to your posts and you can win together!
Focus on posting on Post.tech. Whilst you get fewer points for posting on Post.tech, the engagement will be very high since everyone who is on Post.tech is in it for the points. It is also a good place to make friends to exchange engagement.
Where can I trade $POST tokens?
Post.tech $POST tokens have not officially launched yet, so they are not tradable on any exchange. They are likely to launch once their airdrop campaign ends.
Conclusion
Post.tech is a Web3 social network that rewards users for posting and engaging on its own platform or on Twitter (X). Users can earn points and tokens by creating content, interacting with others, and trading profiles. Post.tech also offers token-gated channels where users can access exclusive content and communities. Post.tech is currently running an airdrop campaign where users can claim $POST tokens based on their points. With our guide and strategies, you can earn the maximum number of points and $POST tokens! Good luck and show your support by following us on Twitter!
Tipcoin refers to itself as the “future of social interaction”. It allows users to receive points simply for posting on Twitter/X. What’s more, there are ways to get multipliers on points depending on the type of tip. Here’s our secret strategy guide on how to get maximum Tipcoin $TIP tokens.
Interacting with other Twitter users will give you MAXIMUM points and $tip, so follow us on Twitter so we can $tip you too and get you started!
Check out our other SocialFi platform strategy guides:
Use our strategies to get maximum points and $tip. See here.
What is Tipcoin?
Tipcoin is a cryptocurrency aims to transform Twitter / X into a platform for seamless social interaction by enabling users to reward friends and their favorite content creators effortlessly. It operates as a decentralized social platform, rewarding users on Twitter for their engagement and tweets. To earn rewards, users simply need to mention Tipcoin by tagging @tipcoineth on Twitter and using $tip or #tip in their tweets.
How does Tipcoin work?
Twitter/ X users are rewarded with points for replying, quoting or tweeting if they mention $tip or #tip. As will be seen below, different types of tweets e.g. original tweets, tipped quotes or replies, and kickbacks will entitle you to get more points.
Tipcoin has been working on 1 week epochs since 1st September 2023 at 8:00am EST (i.e. their launch date). Points earned during each epoch (week) are calculated. Then, Tipcoin will calculate and determine how much $tip they earned using their point system. Finally, users can claim their earned $tip tokens in the next epoch (i.e. next week).
Will there be a Tipcoin $tip airdrop?
According to Tipcoin’s tokenomics, 35% of $tip tokens will be reserved for platform rewards. Tipcoin have also confirmed that they will be doing airdrops on their future $tip platform. More details will be released in the week leading up to the end of epoch 3. So, watch this space for more details on the upcoming Tipcoin airdrop! (Diazepam)
How to use Tipcoin?
Here’s how to set up, use and earn Tipcoin ($tip)
Set up and activate $tip account
On their page, click “Start Now” to link and authorise your Twitter account. You will then need to send out an activation sweet and share a confirmation post by following their prompts.
Begin tweeting!
Reply, quote, or tweet by tagging @tipcoineth and mentioning $tip or #tip. You will then automatically be awarded points!
Claim points
Your points and $tip allocation will be calculated after each epoch. To claim your earned $tip, go to the “Claim” tab on the top of the page.
How are Tipcoin points calculated?
Different interactions on Twitter give you differing amounts of points. Here’s how Tipcoin points are calculated:
1 point per view;
100 points per like;
250 points per reply;
500 points per quote; and
1,000 points per retweet.
Also, here are the actions which will give you multipliers on points:
original tweet- 30x point multiplier;
tipped quote- 10x point multiplier;
tipped reply- 1x point multiplier; and
replied kickbacks- 1/10 points per tip.
However, the Tipcoin team have hinted there may be additional multipliers during claim.
How to get maximum $tip: Strategy guide
Here are some strategies to get maximum Tipcoin $tip:
Focus on original tweets if you have a larger Twitter account. You can only get points on 5 original tweets per day, with a maximum of 18 million points per tweet!
Tip quotes is a good strategy for smaller accounts. You can get points for 10 quote tweets daily, with each quote tweet potentially earning a maximum of 1 million points. This is because quoting others’ tweets whilst mentioning $tip, #tip and @tipcoineth gives a point multiplier of 10x. So, quote others’ tweets in the hopes they will quote you in return. So, follow us on Twitter and we can $tip you too!
Tipped replies. Replying to others’ tweets with $tip, #tip and @tipcoineth can get you 25,000 points for 15 replies every day. Tipped replies however only offers a multiplier of 1x, so whilst it is better than nothing, the strategies in 1 and 2 above are better if you have less time.
Replied kickbacks. This requires your Twitter account to be verified (i.e., blue tick). Tipcoin kickbacks means you earn points for receiving $tip and @tipcoineth replies from others. However, the multiplier is only 1/10, but with no daily upper limit.
Where can I trade Tipcoin $tip?
You can trade Tipcoin $tip on Uniswap, LBank, Bitget, BingX and MEXC. We expect more exchanges to offer trading in $tip soon as its popularity increases!
Conclusion
Tipcoin allows users to reward each other on Twitter with simple tweets. Use the @tipcoineth handle and the $tip, #tip symbol to earn points which can be exchanged for Tipcoin $tip tokens. With our guides and strategies, you can earn the maximum number of points and get more $tip! Good luck and support us by following us on Twitter so we can $tip you too!
zkLend began its creation in late 2021 with aims to create a layer 2 money-market protocol built on StarkNet. With StarkNet being one of the hottest anticipated airdrops, there is massive speculation that zkLend will also have an airdrop. Particularly since zkLend’s V1 mainnet is fast approaching. This guide will teach you how to get a potential zkLend ($ZEND) token airdrop, which may also increase your potential StarkNet airdrop too!
zkLend is a money-market protocol built on StarkNet. Its aim is to combine the best of zk-rollups and Ethereum. zkLend will enable users to earn interest on deposits and borrow assets. To achieve this, zkLend will be offering a dual solution in the form of 2 products: Artemis, and Apollo.
Currently, zkLend has launched the Artemis MVP testnet on StarkNet Goreli testnet. Artemis is designed for regular DeFi users, and enables them to deposit, borrow and lend in a decentralized and permissionless manner on StarkNet.
zkLend’s other major product, Apollo, is designed for institutional clients. The aim of Apollo is to become a gateway for institutional users into the world of DeFi. It will allow permissioned users to deposit, borrow and lend on StarkNet, but without compromising on compliance and security.
What is the zkLend ($ZEND) token?
The zkLend ($ZEND) token has not been launched yet. However, when it does, there will be a total token supply of 100 million tokens. 35% of the total supply of $ZEND tokens will be allocated towards staking and distribution rewards.
The ZEND token is intended for governance and utility functions on zkLend. In particular, ZEND tokens will be rewarded to users when they interact with the zkLend network. For example, ZEND tokens will be distributed for users when borrowing/lending or providing liquidity to the network. Also, when users participate in community events or marketing/airdrop campaigns. ZEND token holders will also be entitled to voting rights which allow them to vote on future features of zkLend.
What is the Current Status of the zkLend ($ZEND) Token Airdrop?
zkLend has not launched its $ZEND token yet. However, the chances of zkLend doing an airdrop are promising. This is because they have already stated in their Whitepaper that a proportion of zkLend’s revenue would be allocated for airdrop campaigns.
How do I participate in the $ZEND token airdrop?
As there is no official airdrop announcement yet, many users can only speculate how to become eligible for $ZEND token airdrops. It is speculated that users could participate in the Artemis public testnet. This is in the hopes that completing zkLend testnet actions will inevitably entitle them to airdrops when the $ZEND token is launched. However, users should note that an airdrop is not guaranteed.
Connect your wallet to zkLend’s Questboard and complete the tasks. Tasks include joining their Discord, liking and retweeting their Tweets, and submitting your Starknet mainnet wallet address.
Artemis is still in the testnet stage, and it is hoped that the mainnet will be launched in 2023, as well as the launch of the $ZEND token.
When reviewing an airdrop, there are several factors to consider. First, the likelihood the project will even do an airdrop in the first place. Then, to look at how many tokens the project intends to allocate towards airdrop campaigns, as well as the difficulty in participating in their airdrop. It is also important to look at the utility of the token so that there will be an actual use and purpose in participating in the airdrop in the first place. Finally, a factor to consider when reviewing an airdrop is whether the airdropped tokens are subject to any lockup period.
Likelihood of Airdrop: The zkLend ($ZEND) token has not been launched yet. But the team has said that $ZEND tokens would be allocated towards staking and distribution rewards.
Airdropped Token Allocation: zkLend ($ZEND) will be a total token supply of 100 million tokens. 35% of the total supply of $ZEND tokens will be allocated towards staking and distribution rewards.
Airdrop Difficulty: It is possible that participating in the Artemis public testnet could make you eligible for a potential $ZEND airdrop. Whilst this requires time and technical knowledge, you will only be using testnet ETH so it does not cost any money on your part. Otherwise, there are simple social tasks on their Questboard which are easy to do. There may also be a possibility that doing zkLend tasks may make you eligible for the potential StarkNet airdrop too!
Token Utility: The ZEND token is intended for governance and utility functions on zkLend. ZEND tokens will also be rewarded to users that interact with the zkLend network.
Token Lockup: There is no announcement on the $ZEND token lockup yet. However, it is hoped that the mainnet will be launched in 2023, together with the $ZEND token.
Alchemy Pay ($ACH) is leading the Chinese coin rally. And data suggests Alchemy Pay prices can go much higher throughout 2023. They are collaborating with the likes of Binance, Visa, MasterCard, and PayPal to provide crypto and fiat payment services. In this article, we will explain what Alchemy Pay is, and why $ACH should be on your 2023 watch list.
What is Alchemy Pay?
Alchemy Pay provides real-world crypto payment solutions and fiat on/off ramps for global businesses, developers, and consumers. One key problem in the current blockchain payment landscape is the lack of integration between traditional financial systems and cryptocurrencies. The project aims to address this by incorporating a hybrid solution. The solution is to (1) simplify the use of crypto to access traditional financial services; and (2) have fiat currency access blockchain services and value.
This will be huge for driving crypto adoption, as it is essentially a network system that allows cross-platform payments. For example, users can use their credit cards to make payments in fiat currencies. Their payment gateway converts this into crypto. This allows users to make credit card purchases while benefiting from the advantages of cryptocurrency. Such as faster and more secure transactions.
Payment Channels and Strategic Partners
Alchemy Pay already has a global reach of 173 countries and over 300 fiat payment channels. These include Visa, Mastercard, Apple Pay, Google Pay, regional mobile wallets, and domestic bank transfers. They also have a massive network of strategic partnerships with many major blockchain networks and services. For example Polygon, Chainlink, Arbitrum, Coinbase, and Bybit.
Who is the Team behind Alchemy Pay?
In 2018, Molly Zheng and Shawn Shi established Alchemy Pay in Singapore. Both founders have extensive backgrounds in the financial sector. Zheng previously held the position of senior consultant at PayPal China, and also worked for HSBC China and Mastercard China. In 2021, Zheng was appointed Chairwoman of Alchemy Pay’s Board and was succeeded as CEO by John Tan, the then-COO. Tan was responsible for driving the growth of the project’s payment business. He did this by securing the company’s initial base of merchant networks across Asia. Their team now boasts over 80 members who have deep experience across the blockchain and payments industries.
Furthermore, the announcement of a new licensing regime for Virtual Asset Service Providers (VASP) in Hong Kong has generated public interest in Chinese cryptocurrencies. Even though this licensing regime will not have a direct impact on retail buyers. However, both these catalysts may not have as significant of an impact as anticipated. The uncertainty of the actual size of the monetary easing and the lack of a well-defined concept of a “Chinese coin” remain.
People are still interested in taking advantage of any potential mini-rally despite these uncertainties. And are actively searching for investment opportunities. Whilst $ACH still has a small market cap, but with strong connections and established infrastructure, it could become a leading contender in China this year.
Alchemy Pay news
On 23rd February 2023, Alchemy Pay announced its partnership with Conflux Network. Conflux Network is a permissionless Layer 1 blockchain which connects decentralized economies across borders and protocols. Through this partnership, Alchemy Pay would be able to have an easy fiat on-ramp onto its ecosystem. This on-ramp payment solution will allow people to buy crypto using their local currency, which will give Conflux’s system a higher level of convenience for both beginners and experienced users. By working together, Alchemy Pay will help Conflux expand its reach around the world. Now with 2 of China’s hottest projects joining forces, we will hopefully see a massive boost for both Alchemy Pay and Conflux’s tokens.
Alchemy Pay $ACH Token and Price Prediction for 2023
$ACH is the utility token of Alchemy Pay, issued on the Ethereum blockchain as an ERC-20 token. There is a total circulating supply of 4 billion $ACH. Its primary use is for its partners to pledge their $ACH as an intermediate settlement currency between token payment networks. Also, as a medium for transaction fees. Alchemy Pay coin is required for every transaction. But, businesses and merchants within the network receive $ACH incentives for accepting crypto as payment at their point of sale.
As of 20th February 2023, we can see from the price chart that $ACH price is gaining a momentum. There has been a 142.1% increase over the past seven days. Technical indicators do show that $ACH is overbought. But its long-term 50 & 200 daily moving average crossover indicates a bullish trend. This suggests that $ACH is likely to continue its uptrend. The pump to $0.041 at the time of writing is partly attributed to news of them partnering with Google Pay. Provided they expand their infrastructure and build more connections, $ACH could deliver strong returns in 2023.
Frequently Asked Questions (FAQs)
What is Alchemy Pay?
Alchemy Pay is a blockchain and cryptocurrency project which aims to provide real-world crypto payment solutions and a fiat on/off ramp for global businesses, developers, and consumers.
Is Alchemy Pay a good coin?
Alchemy Pay is a good coin with potential. $ACH is currently at US$0.050599 and its all-time high price was $0.198666. It is currently ranked number 177 amongst all cryptocurrencies in terms of market capitalization.
Is Alchemy Pay a good investment?
Alchemy Pay’s $ACH token is also very popular among Chinese cryptocurrency investors. As with any investment, it is important to do your own research and consider the potential risks before investing in Alchemy.
Does Alchemy Pay have potential?
Alchemy Pay does have potential since the Chinese cryptocurrency community views the project so favourably. Also, the Chinese crypto narrative is seen as a huge trend this year, which will certainly give Alchemy Pay a boost.
Who invested in Alchemy Pay?
Alchemy Pay completed its Series A funding round in 2022. They raised US$15 million from several investors including Charles Schwab and Jay Z.
What is Vechain? VeChain ($VET) is a next-generation smart contract blockchain platform focused on solving enterprise and supply chain management solutions. The blockchain supports the creation of smart contracts – self-executing contacts that have a guaranteed outcome without third-party trust. Vechain’s unique advantage is that it has close relations with the big four auditing firms, such as Pricewaterhouse Cooper, who will use blockchains to audit firms.
Vechain is designed to can solve enterprise problems such as:
Anti-counterfeit for Luxury Brands – through the use of smart chips, Vechain tracks each individual item and prevents duplication. Vechain Toolchain allows anyone to create anti-counterfeit tags.
Cold-chain Logistics – ensure that food doesn’t spoil during transportation and storage by using smart IoT sensors that automatically report crucial information to the blockchain.
Automobile – keep a tamper-proof record of vehicle data including repair history, insurance, registration, and driver habits.
Carbon Credits – Quantitatively track the carbon contributions of a particular company to reduce carbon emissions. For retail users, the app is already available on WeChat. Consumers engaging in low-carbon behaviors (e.g. purchasing low-carbon products) would be rewarded with credits that can be redeemed for environmentally friendly goods or donated to charity.
Clinical trial traceability platform – with a partnership with Bayer China, Vechain will use blockchain to solve problems of digitalized clinical trial traceability.
Using blockchain technology, VeChain makes it simple and secure for product manufacturers to collect, manage, and share important product data with vendors and consumers throughout the life-cycle of a product.
Key Features of Vechain
Public blockchain Anyone can read, write and deploy decentralized applications and smart contracts onto the VeChainThor blockchain.
In-house IOT and supply chain management technology Proven blockchain implementation experiences in industries such as luxury goods, liquor, and agriculture.
Native Fee Delegation The blockchain supports the implementation of native fee delegation, which means dApp users do not need to hold VET or VTHO to write transactions if associated gas costs are specified by the developers to be sponsored.
VeChain Ecosystem
To achieve its ambitious vision, VeChain has developed a powerful blockchain-enabled enterprise software platform. The Platform enables manufacturers to assign products with unique identities, which then allows manufacturers, supply chain partners, and even consumers to interact with the product through the platform. It uses blockchain technology to ensure the security of the data collected, allocating private keys to all participants within the supply chain.
Products are assigned a unique ID, which is stored simultaneously on the blockchain and attributed to the product with an NFC chip, RFID tag or QR code. At any point during the product’s life, the chip, tag or code can be interacted with, whether by a distribution or retail partner ascertaining batch membership, or a consumer wanting to learn more about a product. The Company envisages a broad range of applications, including brand protection, anti-counterfeit, and food safety.
VeChain has existed since 2015 and migrated its previous private and consortium blockchain to its public VeChainThor blockchain in 2018. This move opens up the advanced features found on the blockchain to any developer or third party to develop and write applications on the platform. There have been several companies that chose to build their business on top of VeChainThor, including Plair and 8Hours Foundation, as well as several independent community developers.
Vechain Roadmap in 2023
Vechain Token Economics
Vechain uses a dual-token economic model. The primary token, VeChain Token (VET) is used to represent value on the network, with various mechanisms designed to stabilize the price of VET over time.
VET holders will also automatically generate the utility token, VeChain Thor Token (VTHO). VTHO is a “gas” currency, and is required to send transactions or perform actions on the network. Regular network users do not have to worry about separately buying VTHO though, as it is automatically generated in proportion to the amount of VET held. When a transaction is executed, 70% of VTHO is permanently destroyed (“burned”) and 30% is given as a block reward to Authority Node holders.
This dual-token economic model was introduced to improve network economics. This system is designed to help developers on the network. Developers holding enough VET will be able to use the network for free, as the VTHO generated will be enough to pay for transactions. If a developer is developing a transaction-intensive app, they can also look to use the multi-party payment protocol.
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In short:
Vechain Token (VET) serves as a reserve for economic staking and value transfer on the platform. VET can be “staked” in various economic nodes and generate VTHO which powers transactions on the network.
VeThor Token (VTHO) is the “gas” required to perform transactions and interact with smart contracts. Each time a transaction is made, VTHO is consumed and destroyed.
Using and Storing Vechain
Vechain can be stored safely on the VeChainThor Wallet which is available on smartphones (iOS and Android). The mobile wallet securely encrypts and provides keys to provide maximum security for Vechain holders.
What are VeChain Nodes?
Nodes are traceable wallets (such as the VeChainThor wallet) that have a specified minimum amount of VeChain stored inside. There are 2 types of nodes: Authority Nodes and Economic Nodes, both of which have their own requirements, functions, and benefits.
Authority (Thrudheim) Nodes: Securing Vechain by Proof of Authority
At the heart of Vechain are the 101 Authority Nodes that process and validate all the blockchain transactions, as well as govern the network via a voting mechanism. These Authority Nodes are selected by the Vechain Foundation and go through a full application and KYC procedure. As a reward, Authority Node holders receive the highest VTHO production rate and voting rights. Authority Nodes are generally owned by large enterprises and trusted individuals to ensure decentralized trust. Little is known about the identity of these Authority Node holders for security reasons, but several large enterprises such as DNV GL and PwC have come forward saying they hold Authority Nodes.
Economic Nodes: Providing stability to the ecosystem through staking
Economic Nodes do not validate blockchain transactions, rather they keep the Vechain ecosystem stable by keeping a certain amount of VET tokens in their VeChain Thor mobile wallet. There are different tiers of economic nodes and the more VET tokens staked for a longer period of time, the higher the rewards.
To become a Normal Economic Node holder, a minimum of 1,000.000 VET for 10 days is required.
More dedicated node holders can join VeChain’s X Node program which offer even more rewards. For X Node holders, holding a minimum of 600.000 VET at all times is required.
There are 4 types of rewards depending on the type of Node held. These range from earning a sum of VTHO per day, rewards from the Company’s Foundation Reward Pool, to whitelist access to VeChain ICOs.
VeChain started in 2015 with the establishment of its company in Shanghai. Founded by CEO Sunny Lu (ex-CIO of Louis Vuitton China), the Company has been developing enterprise-focused solutions based on its private blockchain. As the trend towards better decentralization occurred in the blockchain industry, VeChain migrated to a consortium blockchain before finally establishing the VeChain Foundation and starting their final migration to a Proof of Authority (PoA)-based public blockchain platform.
The Foundation’s vision is to create greater market transparency and provide consumers with access to more detailed information about the products they buy, sell, and interact with. By having a full 360-degree view of the supply chain, with all components securely recorded and stored in a tamper-proof distributed ledger, retailers and manufacturers can be certain of the quality and authenticity of their products, guaranteeing consumers that what they are buying is really what they think it is.
VeChain boasts partnerships and lives use cases with many notable partners, including DNV GL, PwC, Deloitte, Walmart China, BMW, BYD Auto, Bayer China, H&M, LVMH, ENN, AWS, PICC, ASI Group, etc.
Key VeChain Partnerships
DNV GL
DNV GL was founded in 1864 and has 300 offices worldwide. They provide quality assurance services to companies in the maritime, oil and gas, and power and renewables industries.
DNV GL issues Management System Certificates at the end of their inspection and certification process. This evidences that the company’s processes and products meet international standards.
DNV GL is a partner and shareholder of VeChain. Both Companies share the belief that the future of assurance lies in blockchain technologyAt VeChain Summit 2019, DNVGL announced it has completely migrated its private blockchain to the VechainThor
Since the partnership announcement, DNV GL has jointly developed several products including the Low Carbon Ecosystem and MyStory, a traceability and marketing solution. DNV GL has also reaffirmed its commitment to the VeChain ecosystem by migrating its private blockchain onto the VeChainThor public blockchain for its clients. DNV GL also gave each client a digital Non-Fungible Token (NFT) wallet so that each customer has a digital identity and can access and interact with the DNV GL ecosystem. Through this, DNV GL has issued more than 900,000 wallets, compared to Ethereum which only has 400,000 wallets.
BMW
In March 2018, BMW confirmed VeChain’s participation in the BMW Startup Garage Programme, a partnership program whereby BMW will work with the participant to develop their technology and purchase it for BMW’s use.
During the 2019 VeChain Summit, it was confirmed that VeChain and BMW will jointly develop a DApp called VerifyCar for BMW cars. VerifyCar will record vehicle information onto the VeChainThor blockchain. Examples of information which will be recorded include a vehicle’s mileage, insurance and service records.
Cihan Albay, Leader at IT Tech Office Singapore, BMW Group gives a presentation on VerifyCar
PriceWaterHouseCoopers (PwC)
PwC is known as one of the “Big Four” auditors. They are a network of firms in over 150 countries and provide services to 420 of the Fortune 500 companies.
PwC has 3 major service lines:
Assurance providing financial audits;
Advisory on actuarial and insurance management solutions and human resource services; and
Tax planning and consultancy services.
VeChain has partnered with PwC since May 2017 to jointly develop and promote the adoption of blockchain technology. After much speculation, details of their partnership were announced during a joint press conference with PwC and Walmart in June 2019. It was announced that Vechain and PwC were also working with Walmart China, and had launched the Walmart China Blockchain Traceability Platform built on the VeChainThor Blockchain. The Platform takes on the challenge of food safety by using VeChain’s technology to allow Walmart China to implement a traceability strategy for its products. Consumers can scan the products and would be able to view detailed information on the product, such as its source, logistics process, product inspection reports etc.
At the time of the announcement, an initial 23 Walmart product lines were tested and launched on the Platform. By the end of 2020, it is expected that Walmart’s China’s traceability system will see traceable fresh meat account for 50% of its fresh meat sales, traceable vegetables will account for 40% of its total sales of vegetables, and traceable seafood will account for 12.5% of the total sales of seafood.
Bayer China
The partnership between VeChain and Bayer China, the Greater China arm of one of the world’s leading pharmaceutical companies was announced on 28th May 2020. VeChain has created CSecure, a clinical trial traceability platform to be used in Bayer’s research and development of medical interventions such as drugs and other treatments. Learn more about Vechain and Bayer’s partnership.
VeChain is a blockchain-enabled platform that provides a comprehensive governance structure, a robust economic model, and advanced IoT integration to help enterprises improve supply chain management, asset tracking, data management, and more.
What are the benefits of using VeChain?
VeChain offers a wide range of benefits, including improved transparency, enhanced security, improved traceability, increased efficiency, cost savings, and more.
How does VeChain work?
VeChain uses a combination of blockchain technology, smart contracts, and IoT devices to create an immutable, distributed ledger that can be used to track and manage assets, contracts, and data.
What industries can benefit from VeChain?
VeChain has applications in a variety of industries, including supply chain management, asset tracking, data management, healthcare, finance, and more.
What is VeChain Thor?
VeChain Thor is the native blockchain platform of VeChain, which enables users to develop decentralized applications (dApps) and smart contracts.
Where can I buy Vechain
Currently, the best exchange to trade both the $VET and $VTHO token is Binance – it has the most number of traders and highest liquidity. You can purchase VET on cryptocurrency exchanges such as Binance, Huobi, and OKEx.
What is VeChain’s token?
VeChain’s token is called VET, and it is used to power the VeChain network and reward users for their contributions.
What is VeChain’s roadmap in 2023?
The VeChain Foundation says the project’s developers plan to spend the first half of the year at work on a carbon footprint explorer, a wallet browser extension and an Ethereum (ETH) token bridge, among other projects.
ChainLink ($LINK) has been a standout project in the cryptocurrency industry since its creation in 2017 by San Francisco based company, SmartContract. The Company is renowned for being a decentralised oracle solution, they act as a middleware agent between traditional data sources, blockchain projects and smart contracts (which drive Decentralised Finance (DeFi) projects) using their $LINK token. Partnership wise, the Company has been linked with national governments like the Chinese government and are consistently building new partnerships with major brands. Clearly, ChainLink is a company that any crypto or blockchain enthusiast should have an understanding of, so here we have compiled a complete guide to this revolutionary project.
What is ChainLink?
ChainLink has prominence because they solved the Oracle Problem. The oracle problem originates from an issue with smart contracts, which are coding instructions that would automatically execute under specific conditions on blockchain networks. Smart contracts are. also immutable, cost effective and self-executing, so technically they are perfect for automating transactions which are transparent and have zero chance of failure. These smart contracts derive their data from “Oracles” (i.e. data sources, APIs etc) , and this is where the problem lies. Smart contracts are only as “smart” as the information fed to them by the oracles. If you feed a smart contract with malicious code or bad data, the smart contract will still process it anyway because it is just code, and what comes out would be incorrect or unpredictable. This is known as the “Oracle Problem”.
That all changed when ChainLink worked out how to retrieve and share information from the Oracles without jeopardizing the security of the blockchain. This was by creating a decentralized blockchain that bridges between the Oracles and the smart contracts. While researching this, I stumbled upon a 스포츠토토 사이트 추천, which provided insights into secure and reliable platforms for sports betting. The system is built on a collection of individual nodes that act as smart contracts on their own to gather the information and, as a result, have created a smart contract infrastructure. Now, instead of having to blindly trust a source, smart contracts can access resources like data feeds, traditional bank account payments, and web APIs.
Why is this important? It is because ChainLink believes its technology will do away with traditional legal agreements and instead the information will be stored on blockchain forever.
What is the $LINK token? What are its uses?
ChainLink is also relevant to the cryptocurrency industry because its Oracles also provide a solution for decentralized applications (dapps) as they too provide a bridge to the outside world.
The $LINK token is ChainLink’s native cryptocurrency and was set up on the Ethereum network using an ERC677 token whose functionality is based on the ERC-20 token standard, it also boasts ‘transfer and call’ functionality. The $LINK token is used as staking for a bidding system for provision of information and for rewards, as will be seen in the following paragraph.
The decentralized oracle network works through a two way system between those who wish to purchase data and those who bid to be the providers of the said data. Providers, also known as “Node Operators” stake ChainLink’s $LINK tokens to make bids to the intended data purchaser. If they win, they must provide the information required by the purchaser on chain through their APIs. The “winning” Node Operator’s payout is determined by the number of operators using the site, and the Oracles implement this decision. Payouts are in the form of the $LINK token.
This system has a number of benefits. When ChainLink is popular with Node Operators, then their value increases. Not only that, but Node Operators are also rewarded for accumulating $LINK tokens through easier access to larger contracts, also increasing $LINK’s value. Those who act maliciously, however, are punished by removal of $LINK tokens.
As you can see the $LINK token allows for self regulating governance of the ChainLink network. Some have suggested that payouts needn’t be in $LINK, but rather any other cryptocurrency would have done the job. Yet, ChainLink’s price performances in recent times have suggested the team in San Francisco were right to go down the native token route.
The $LINK token can be traded on exchanges and is gaining in popularity too. Currently it ranks as the 8th highest market cap according to Coingecko. Available on most major exchanges like Coinbase Pro, Binance and OKEX ChainLink’s token has been a standout performer in recent months. Check out our Coinbase Pro review, Binance review and OKEX review.
ChainLink Partnerships
Unlike other companies who rely on PR and word of mouth to promote themselves, ChainLink has gone about it by courting various companies and governments around the world. Their CEO Sergey Nazarov has been on a charm offensive for a while and has secured numerous allies. This is because ChainLink provides businesses the benefits of decentralization, trust and immutability, all without them having to make a new system. Here’s some of ChainLink’s key partners.
Other Cryptocurrencies- Bitcoin and Hyperledger
In terms of the cryptocurrency field, ChainLink’s oracle services are available on other blockchains such as Bitcoin and Hyperledger. This openness has also opened up the door for a number of high profile partnerships with other blockchain projects that have made commentators and traders take notice of the Company.
Synthetix Network
In March 2019, ChainLink and Synthetix announced a partnership with the aim of improving the Synthetix platform’s price feeds. SNX, the company’s native token, receives data feeds using Chainlink’s decentralized oracle network.
Celer Network
ChainLink has been used by Celer to bring accurate real world data to their layer-2 scaling solution. Now, payments executed off chain can be registered on chain making the real world and blockchain more cohesive. Their joint statement described their union as, “a combination of off-chain conditional state transition with an on-chain oracle dependency. Or put it simply, introducing the capability to combine real-world information and layer-2 scalability.”
Google and ChainLink
ChainLink and their oracles are not just reserved for the cryptocurrency industry. The use cases and partnerships stretch to major internet companies like Google. The search engine company integrated ChainLink’s oracles for its blockchain cloud service. According to a blog post, the oracles will help with data communication between Big Query and other blockchains on the cloud.
Chinese Government Blockchain Service Network (BSN)
In June, the Chinese state backed Blockchain Service Network (BSN) announced its intentions to bring ChainLink in on a consultancy and application basis to help develop the BSN. Reports at the time suggested ChainLink will foster the creation of a “service hub” which would form the bedrock of its “internet of blockchains.” For a full breakdown of the partnership which also involved Cosmos, click here.
SWIFT
SWIFT is a major financial institution/telecommunications company which connects the banking world. They have brought ChainLink on board and are regularly using their technology. SWIFT began using ChainLink’s technology as now any real-world money transfer can be sent into the blockchain from SWIFT via Chainlink. So ChainLink now allows cohesion between traditional banking and the crypto sphere.
Other partnerships
The partnerships don’t stop there. ChainLink has teamed up with betting company, BetProtocol to provide decentralized Esports and Sports Oracles on their website. DocuSign, an online contract company has also brought them onboard.
Future of ChainLink and $LINK prices
Overall, it is clear that ChainLink is an important figure within the blockchain and cryptocurrency industry. Quite how important the oracle technology proves to be will be easier to judge as the world understands and develops blockchain technology. Though currently, all signs point towards a more optimistic outlook
As for the $LINK token, they are clearly a standout which has risen rapidly in the past few months, having gone from $3.72 in early May 2020 to reach a new all-time high of over $14. In fact, as a Forbes report noted in July 2020, the $LINK token has “soared 1,000% in just over 12 months”. One factor in the token’s recent success is the increase in partnerships since 2019. Another reason is definitely the recent DeFi fever, especially since ChainLink and the DeFi space are so interlinked as ChainLink provides oracles for the smart contracts that power various DeFi projects.
We can also see that people also have positive thoughts on the project, a huge majority of users on Coingecko voting positively.
ChainLink vs Zeus Capital LLP
Zeus Capital, purportedly an asset management and research firm published a report on 15th July 2020 accusing Chainlink of being a classic “pump and dump”. The Report alleges ChainLink of using techniques such as inside trading, artificial transactions, overhyping the project, and questioning whether ChainLink actually has partnerships with companies like Google and Oracle. According to Zeus Capital, this was to drive up the price of $LINK prior to the team dumping the coin onto innocent investors. They concluded their Report saying that “Based on our findings we have opened a short position in LINK and recommend you doing the same with a target price of USD0.07 and potential upside of nearly 100%.”
In addition to promoting the Report through advertisements on Twitter, screenshots have also been circulating saying that Zeus Capital was offering Twitter cryptocurrency influencers rewards of up to 5 Bitcoin to post price analysis indicating that LINK prices would fall.
Twitter user @iceberg trolls Zeus Capital asking for 5 BTC to post bad chart and Zeus Capital actually seems to accept the offer.
Supporters of ChainLink retaliated, accusing Zeus Capital of spreading fear, uncertainty and doubt (FUD). On the day the Report was published, prices for LINK went up to $8.73. Meanwhile, the real Zeus Capital, a prominent investment banking operation based in London came forward on 20th July 2020 to say it did not produce the Reports.
Zeus Capital then doubled down on their allegations against ChainLink by publishing a follow-up report on 31st July 2020 titled “Exposing Chainlink’s Pump and Dump Scheme”. They also doubled down on their stance in the Report: “The current tokenomics and lack of commercial applications cannot justify LINK’s price. As a result, we recommend short selling LINK with a target price of 7 US cents”. The Follow-up Report also concludes with a disclosure that they hold a short position on $LINK.
Despite these damning reports, prices for LINK continued to remain strong. This meant that those who were shorting LINK, i.e. counting on prices to drop, were getting squeezed out of their positions. This all came to a head on the morning of 8th August 2020 when prices for LINK crossed over the USD $11 threshold. During that time, data showed that millions worth of Chainlink short positions were partially or fully liquidated. A notable example of this was a short position worth around USD$20 million which seems to have been entirely liquidated, leaving the wallet pretty dry with only USD $299.66 remaining.
It is noted that there is no conclusive evidence to say that any of these liquidated accounts belonged to Zeus Capital. However one thing is certain- ChainLink, helped by its supporters i.e. the Link Marines were able to successfully shake off the FUD. And as at the time of this update, LINK prices had peaked at USD$14.34, almost double the prices when the first Report was published.
What has 2020 brought to Chainlink?
2020 has been a favorable year for Chainlink ($LINK). It has been one of the best performing coins and secured its spot in the top10 assets ranking by mcap. It is now sitting at n°9 with a market cap close to $8 billion dollars.
Chainlink is widely recognized as the most used oracle in crypto and has been a backbone for Defi’s explosion. Many are the collaborations announced, over 300, not only on the Ethereum blockchain. Chainlink is also expanding to other chains such as Polkadot and Tezos. Results have exceeded expectations and the company has also been recognized, among 6 other blockchain companies (Lightning Labs, MakerDAO, Elliptic, Bitmark, Ripio, Veridium Labs) by the World Economic Forum among the 100 most promising Technology Pioneers of 2020.
The team has allegedly doubled its size and acquired important strategic pieces. Ari Juels, now Chief Scientist at Chainlink Labs, was one of the 2 writers of the first Proof of Work paper. He has also developed Deco, a privacy-preserving technology now acquired by Chainlink, at Cornell University together with other researchers.
“Deco allows oracles to attest to the validity of information in trusted databases/systems without exposing it to the public or even the oracle itself using … Zero-Knowledge Proofs. Essentially, the oracle can join a user-initiated web session to attest to some requested information— possibly to verify someone’s identity, approve their financial information, or check key government records”.
The data will never leave the selected database so the info will remain stored in trusted locations, enhancing the privacy and usability of the blockchain. An important possible application could be transactions that can meet KYC (Know Your Customer) or AML (Ant Money Laundering) requirements without exposing sensitive information on-chain.
2021 looks certainly promising. The company will continue with its focus on security while bringing as much data as possible on-chain, from different sectors. This will provide huge improvements and development to the whole crypto space.
Decentralised Finance (DeFi) series: tutorials, guides and more
With content for both beginners and more advanced users, check out our YouTube DeFi series containing tutorials on the ESSENTIAL TOOLS you need for trading in the DeFi space e.g. MetaMask and Uniswap. As well as a deep dive into popular DeFi topics such as decentralized exchanges, borrowing-lending platforms and NFT marketplaces
More videos and articles are coming soon as part of our DeFi series, so be sure to SUBSCRIBE to our Youtube channel so you can be notified as soon as they come out!
Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.
Polkastarter ($POLS) is a cross-chain decentralised protocol, powered by Polkadot, that allows start-ups to raise funds in a decentralised and interoperable environment.
In 2020, the decentralized finance ecosystem (DeFi) recorded encouraging figures in the number of DeFi protocols, as well as the number of funds locked in these platforms. On the number of protocols, the platforms addressed different spheres such as lending, trading, and insurance.
Unfortunately, not many protocols touched on revolutionizing conventional fundraising models such as initial coin offerings (ICOs), initial decentralized exchange offerings (IDOs), and initial exchange offerings (IEOs).
However, projects like Polkastarter are on their way to bring a sigh of relief to startups looking for innovative ways to attract funding. Before we dig deeper into the project and what it brings to startups, let’s take a look at the group behind it.
Background
Daniel Stockhaus and Tiago Martins are the top brains behind Polkastarter. As project co-founders, Stockhaus is the CEO, while Martins is the CTO. Notably, the two have vast experience spanning from tech entrepreneurship to software development.
Other members of the team include Danilo Carlucci and Matthew Dibb. Carlucci is a serial entrepreneur and angel investor, while Dibb is a strategic advisor.
What is Polkastarter?
Polkastarter is a decentralized platform enabling startups and other projects to attract capital through token auctions and inter-blockchain token pools. As you would have guessed from its name, the project is built on the Polkadot network that sits on Ethereum.
Polkadaot Network
Stockhaus settled on Polkadot because of the network’s major strengths in scalability, speed, interoperability, upgradeability, and governance. To elaborate, Polkadot surpasses Ethereum and Bitcoin transaction speed thanks to its use of parachains, which power horizontal scalability, and Grandpa consensus mechanism, which drives vertical scalability.
Polkastarter taps into these strengths to enable governance through community voting and staking. The network also relies on Polkadot to drive liquidity mining.
Using these features, the project scores better than existing decentralized exchanges and swap protocols such as Uniswap, Bounce, and Primablock. For instance, these networks don’t support cross-chain pools, while Bounce and Primablock support a limited array of virtual assets.
Polkastarter’s Use Cases and Major Features
Polkastarter expands outside the fundraising space to crowdfunding and allows participants to benefit from discounted sales. Additionally, the protocol can increase privacy to over the counter deals by enabling password protection during such trades.
The network differs from other similar projects since it allows:
Inter-chain swaps
Fixed and dynamic swaps
Community voting on critical governance issues
Decentralized and permissionless token listing
Comprehensive Know your customer (KYC) procedures
Users to spot scams from a distance through a built-in anti-scam feature
Notably, combining these features brings low-cost transactions, fast cross-chain token swaps, the ability to move virtual assets across decentralized platforms, and a user-friendly design.
How Polkastarter Handles Fixed Swaps?
Fixed swaps pools are significant components of the network. Unlike with automated market making, fixed swap counteracts price volatility. Also, fixed swaps provide a greater level of transparency on the amount raised during fundraising.
Polkastarter employs fixed swap pools instead of AMM swap pools. This approach solves, among other challenges, the risk of private investors artificially inflating the price and dumping their holdings and the cost of token offerings.
Additionally, fixed swap pools ensure a fair distribution of tokens while eliminating the risk of rug pulls in a liquidity pool.
Note that instead of using a bonding curve approach to determine token prices in a pool, Polkastarter sets a fixed price when swapping tokens. As such, it’s possible to add other parameters, such as how much a single user can contribute to a project. Additionally, it’s easier to set more parameters to ensure transparency and fairness on new token holders.
Immediate advantages of using fixed swaps are:
The amount raised and tokens sold can easily be calculated.
It attracts investors distributed both demographically and geographically.
Token holders are given a chance to acquire tokens at a standard price.
Polkastarter’s Native Token ($POLS)
Tokenomics
The network has a native token called $POLS, which it uses for various sections on the platform. POLS’s total supply is 100 million tokens. Exactly 42.5 percent of the tokens were sold during the seed sale, private sale, and Uniswap listing. Other tokens went to the marketing fund, team, advisors, and foundational reserve.
Funds raised during the sales periods went into legal/accountancy (5%), ecosystem growth (20%), liquidity/exchanges (30%), and product development (45%).
POLS is used on the Polkastarter ecosystem as a utility token. Among its major uses are governance and fees.
As a governance token, its holders can vote on crucial matters such as protocol features and tokens to be displayed on the network. On fees, transactions on the platform are paid using the native currency.
Other Utilities
Staking – The token can be staked to earn staking rewards on various fronts. For example, it can be staked to receive pool rewards or for pool access. Note that the option to stake POL for pool access is solely upon pool creators. However, the choice is ideal for giving top liquidity providers private access to high-end pools.
Liquidity mining – Additionally, Polkastarter’s native currency can be staked to participate in liquidity mining. Rewards are distributed to entities providing liquidity on the secondary markets, among other subsections.
Two Key Partnerships With Polkastarter
Although Stockhaus and the team have inked many partnerships with reputable decentralized platforms, two stand out.
Polkastarter and Covalent
Covalent is a platform capable of fetching intricate details about a crypto wallet. As such, it allows Polkastarter and its users to check the trustworthiness of a token contract. The users have access to the token contract age, verification, transaction volume, among other details.
Polkastarter and DIA
Decentralized Information Asset (DIA) is a platform that provides distributed oracles on Polkastarter. Thanks to the exceptional qualities of its oracles, DIA helps Polkastarter provide warnings against massive price slippage.
Other partnerships involve Moonbean, Shyft, and Orion Protocol.
Conclusion
By using fixed price swaps instead of AMM, Polkastarter sets the bar higher in decentralized funding. It adds the transparency and fairness aspect that has been missing on similar platforms. The projectl’s partnerships with Covalent and DIA gives its users peace of mind knowing that they can pick a suspicious project from the crowd and avoid price slippage.
Furthermore, Polkastarter’s native token opens the door to distributed governance while giving its holders an extra way to earn rewards through staking.
Decentralised Finance (DeFi) series: tutorials, guides and more
With content for both beginners and more advanced users, check out our YouTube DeFi series containing tutorials on the ESSENTIAL TOOLS you need for trading in the DeFi space e.g. MetaMask and Uniswap. As well as a deep dive into popular DeFi topics such as decentralized exchanges, borrowing-lending platforms and NFT marketplaces
More videos and articles are coming soon as part of our DeFi series, so be sure to SUBSCRIBE to our Youtube channel so you can be notified as soon as they come out!
Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.
WAX Protocol ($WAXP) stands for Worldwide Asset eXchange. They are one of the safest and most convenient ways to create, buy, sell and trade virtual items i.e. non-fungible tokens (NFTs) through an integrated DPoS blockchain platform designed to work hand-in-hand with a microservice layer to improve the digital goods market’s infrastructure. Obtaining WAX knowledge has enabled innovators to develop a highly-connected and sophisticated marketplace that has brought a lot of value in digital goods projects.
This information here will help you learn how to incorporate the WAX Protocol within the WAX Platform and how the two tools complement each other. It’s worth noting that the WAX Platform is composed of the WAX Protocol and a microservice layer.
Learn more about WAX with our interview with Evan Vandenberg, Director of Business Development at WAX.
Profitable digital collectibles and blockchain gaming (with WAX blockchain)
Background
The WAX platform was founded by William Quigley and Jonathan Yantis, together they have vast experience in blockchain technology. Quigley is also the Managing Director of Cashel Enterprises, a cryptocurrency-focused investment vehicle which has incubated and invested in over 40 blockchain and cryptocurrency projects. Meanwhile, Yantis also works as WAX’s CEO.
The global growth of the digital goods marketplace has experienced enormous challenges for the past decade, but WAX technology has helped in finding solutions that spur the development of the sector. Although some users think that the technology has arrived late when challenges are already overwhelming, it’s actually the perfect time since blockchain has matured enough to satisfy the requirements for the WAX system to succeed.
As the digital goods market continues to expand, it’s essential to acknowledge that tokenized consumer products and virtual items have played an instrumental role in blockchain growth. Virtual items like in video games alone have generated more than USD$140 billion for the market. On the other hand, tokenized consumer products have realized over USD$1.8 trillion.
Considering that WAX attempts to offer remedies for a marketplace with a combined market value of over USD$2 trillion, it’s easy to realize the magnitude of the problem. The first year of incorporating WAX Protocol operations on major players like VGO and dApps has realized over USD$150 million worth of trading volume.
What is WAX?
Wax is a marketplace for digital assets, serving more than 400 million online players that sell, buy, and collect in-game items. Their suite of blockchain-based tools allows people to trade digital or physical items instantly and securely to anyone in the world. WAX’s platform brings together a community of collectors and traders, buyers and sellers, creators and gamers, merchants, creators of dApps and even game developers.
Examples of what WAX can do include buying and selling gift cards to people across the globe, or building your own online store using the B2B tools created by WAX. WAX also allows people to create NFTs and send them to others.
WAX Blockchain
The WAX network works on a consensus model that relies on various WAX Guilds to enhance blockchain production. WAX utilizes Delegated Proof of Stake (DPoS), which depends heavily on WAX Guilds to ensure success in blockchain generation.
The WAX ecosystem has witnessed considerable growth due to the incorporation of the WAX Token Model, which is designed to ensure success in various aspects such as voting, staking, and rewards. The Wax Staking Reward is a feature that has encouraged community participation because it allows users to vote and access rewards.
With WAX tokens, users have immense options to explore. For instance, if staked WAX tokens haven’t been placed, a token holder will require platforms such as Scatter and Lynx to automate the process.
WAX Tokens ($WAXP)
WAX tokens ($WAXP) power the entire WAX ecosystem. They are used to reward participants in the chain and enable contributors to receive ten times the number of tokens purchased. This strategy makes it easier to calculate all microtransactions on the platform.
One benefit of owning WAX tokens is that you get to earn even more tokens by voting for WAX guilds. This is called the WAX staking reward. This process is hassle-free and takes just a minute or two to join. Furthermore, you can unstake your tokens at any time.
WAX and DeFi? WAX’s new tokenomic model explained
In a recent announcement, WAX mentioned they will have a new tokenomic model hoping to capitalise on the rapid growth and popularity of NFTs and decentralised finance (DeFi). Their plan is to link the value generated from creating, selling and trading NFTs to Ethereum. WAX considers it different from other DeFi platforms because they consider these activities to be able to provide a sustainable source of value to stakers.
How the new WAX inter-blockchain tokenomic model would work is that the operational functions of NFTs would still be done on the WAX blockchain, whilst Ethereum will become, “…the capital vault of the WAX NFT empire”. There are 4 components to this new tokenomic model, namely:
WAXP to Ethereum bridge: this new bridge will enable WAXP token holders to convert their tokens into WAXE.
WAXE: WAXE is a new Ethereum ERC20 utility token. Participants of the WAX tokenomics will need to burn their WAXP tokens to get WAXE tokens via the Ethereum bridge. They would then stake the WAXE in the Ethereum Distribution Contract.
WAXG: WAXG is a new Ethereum ERC20 governance token which will be distributed to WAXE stakers based on a set timetable and proportionate to their percentage of the WAX Economic Activity Pool. Token holders will be able to govern the allocation and distribution of economic value on the platform.
WAX Economic Activity Pool: This is a smart contract which will accumulate a percentage of generated WAX fees to be converted to ETH for distribution to WAXE stakers or given to WAXG token holders that decide to burn their tokens.
For full details of WAX’s new tokenomic model, check out their article on Medium.
WAX Guilds and Rewards
A WAX blockchain contains 21 WAX Guilds that qualify to earn a reward. Remember, blocks can only be produced after the chain meets the threshold to earn rewards. The rewards are awarded depending on the number of blocks that every WAX Guild can produce. Standby Guilds are considered as backup operators that help to generate a chain on request.
WAX Performance Metrics
WAX has been configured in such a way that it releases two blocks per second. It’s worth noting that each WAX Guild can only produce one block at a time. If a block fails to come out at a specific time, other blocks will jump the queue to ensure a continuous process.
A block that has been skipped will contend for a space in the memory pool to compete for guilds’ inclusion in the next turn. More than 3000 blockchains are usually transacted each second in the WAX system. The transaction rate is two times swifter than the VISA system can procure in the same period.
The Future of WAX technology
WAX Platform doesn’t only work to offer remedy for the current problems but also offers a roadmap for future operations. WAX Developer Hive is tasked with the duty of technical service provision, tutorials, and other simulations. Besides, WAX developers equally provide vital resources that make implementations successful.
The technology has also incorporated features that will make it convenient to evaluate whether the system passes the transparency test among communities.
Also, there’s room to allow interoperation with other chains to enhance performance. NFTs are among the candidates that need microservices and can thrive with the WAX Platform.
Conclusion
Gamers from across the world can substantially benefit from its secure and decentralized digital items marketplace. As WAX Platform continues to provide more improvements, developers will find several ways to create features that would better serve gamers in terms of digital goods trading.
The platform is also expected to play an instrumental role with digital media and is set to welcome over three billion users in the coming five years.
Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.
Poolz.finance ($POOLZ) aims to be the bridge between cryptocurrency projects and early investors.
Poolz.finance has already integrated Ethereum, Polkadot and Tomochain. Projects can simply sign up with a simple Google form on the Poolz official site and they would help launch token sales on the Poolz platform.
In addition to launching token sales, Poolz can also help projects fundraise flexibly by allowing them to specify lock-in periods whereby only after the specified period expires can investors receive tokens for their swapped amount. On the other hand, pools of tokens camn also be created for a project’s token so investors can get immediate access to the project’s tokens.
To catch up with the yield-farming craze, Poolz also provides staking-as-a-service, allowing projects to set up staking for their token. And with that of course also brings concerns for security, which Poolz does recognise and therefore can allow projects to request token audits.
Check out our interview with CEO and Co-founder Guy Oren.
Poolz is also capitalizing on the popularity of Non-Fungible Tokens (NFTs) by allowing cryptocurrency projects to auction their NFTs on the Poolz auction house. Poolz has integrated the ERC-721 standard, which allows developers to code the owners’ identity and address into the NFT- making each token unique and ensuring that each NFT only has one owner.
During this initial phase, projects can sell their NFTs for ETH and DAI. However, it is expected that more payment methods will be accepted in the future, such as the project’s native cryptocurrency or other stablecoins.
$POOLZ token holders get exclusive benefits on Poolz’ NFT auction house such as price benefits and special access to the “last call” feature. Poolz’ “LastCall” feature comes after the conclusion of the “open” auction phase. Once the “open” auction for the NFTs are closed to the public, the “LastCall” phase opens whereby the NFT pool is exclusively open for POOLZ token holders to make their bids- thus increasing their chances of getting a winning bid before the auction finishes.
What is the $POOLZ token and its uses?
$POOLZ is Poolz Finance’s native ERC-20 token. $POOLZ token is mainly used as user incentives, governance, staking, token burns and project development.
Incentives. include exclusive benefits in the NFT auction house and better swap ratios for pools running on their platform.
Governance. The Poolz platform will implement the Proof of Stake (PoS) mechanism. This allows POOLZ holders to have voting rights when they stake their tokens in specific wallets.
Staking. According to the Team, POOLZ token holders can get passive income from staking them in particular ERC-20 wallets. In return, these token holders will get staking rewards.
Token burn. Poolz will use 16.67% of its daily earnings to buy $POOLZ tokens from the market and burn the same, subject to an upper limit of 20% of the POOLZ supply. This keeps the supply of tokens low.
Project development. Poolz has reserve tokens that are allocated for future development such as marketing, exchange fees for listings, and long-term liquidity.
$POOLZ tokenomics
1/3 of the total $POOLZ token supply is locked and will be released over a period of 10 years. The Poolz team believes this model will ensure a low supply and keep prices high, and to show that they intend to stay with this project for the long haul.
The allocation of $POOLZ is as follows:
2.2M POOLZ (44%): Public and private sale
800,000 POOLZ (16%): Staking rewards. This will be circulated in the form of average annual yields to those who stake their tokens in a compatible wallet. 80,000 POOLZ will be released each year for 10 years (i.e. 1,539 tokens per week).
800,000 POOLZ (16%): Swapping rewards. These will be rewarded to liquidity providers on the participating pools on the platform. 80,000 POOLZ will be released each year for 10 years (i.e. 1,539 tokens per week). This may be subject to change via governance decisions.
600,000 POOLZ (12%): Reserve. This will be for future initiatives and to support the community.
375,000 POOLZ (7.5%): Team. For incentivizing the Poolz team and will be distributed over 6 months of equal vesting after a lock-in period of 1 year.
125,000 POOLZ (2.5%): Advisors. Given to advisors as incentives over 1 year of monthly vesting.
100,000 POOLZ (2%): Liquidity fund. This is for providing liquidity on Uniswap and other exchanges.
$POOLZ token sale
Total Supply: 5,000,000 POOLZ
Initial Market Cap: USD $423,500
Fully Diluted Valuation: USD $3.5M
Private and public sale: 2.2M POOLZ (44% of total supply) will be allocated for private and public sales.
Pre Seed: 100,000 POOLZ at USD $0.35: 3 months initial lockup, then 8.33% released monthly.
Strategic Round: 400,000 POOLZ, at USD $0.455: 10% released upon Token Generation Event (TGE), then 9% released monthly over a period of 10 months.
Private Sale 1: 700,000 POOLZ, at USD$0.47775: 20% released upon TGE 20%, then 20% released monthly.
Private Sale 2: 900,000 POOLZ at USD $0.50050: 25% released on TGE, then 25% released monthly.
Auction Pools: 100,000 POOLZ at USD $0.7: no lockup period.
On 15th January 2021, $POOLZ will do a public sale by way of an Initial DEX Offering (IDO) and Uniswap listing.
The IDO will be held on the Poolz platform itself so that after it goes live, you can directly buy $POOLZ from their own platform. Afterwards, $POOLZ will be available on Uniswap. There is no minimum purchase amount for this IDO.
Note the IDO has sold out in 18 seconds
How to buy $POOLZ on Uniswap
The $POOLZ token will be listed on Uniswap from 15th January 2021 onwards, meaning that users will be able to buy $POOLZ on Uniswap. Buying $POOLZ can be done in 4 easy steps:
Step 1:On Uniswap, select which cryptocurrency you want to trade $POOLZ with in the “From” row. Note that Ethereum is set as the default.
Step 2: Set to swap for $POOLZ tokens. In the “To” row, enter the correct Poolz address. Be very sure that the address is correct or else you could risk losing your funds.
Step 3: Enter the amount of $POOLZ token you want to obtain. Once you’ve entered the amount of $POOLZ token you want to buy, double-check the swap details and click “Confirm swap”.
Step 4: Confirm purchase on MetaMask. After confirming on Uniswap, you will be taken to MetaMask to confirm the payment. Click “confirm”. Once the payment is processed you will receive $POOLZ tokens in your MetaMask wallet.
Is Poolz safe?
Poolz Finance engaged Arcadia for an independent security audit of its smart contracts. Poolz reports that Arcadia did not find any issues with their smart contracts.
Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.
