Shibaswap Dex Captures $1.5 Billion Locked in 2 Days, SHIB Platform Bumps ETH Fees Higher
The crypto asset shiba inu (SHIB) now has a decentralized exchange (dex) platform called Shibaswap and since the trading protocol’s launch, the dex has $1.55 billion total value locked (TVL). The SHIB-fueled dex has a lot more liquidity than most platforms today as Shibaswap has been catching up to popular dex platforms like Pancakeswap and Sushiswap.
Shibaswap Dex Gathers Significant Liquidity in 48 HoursShiba inu has a leg up over dogecoin and baby doge this week as the meme-based crypto asset has launched a dex platform called Shibaswap. The dex Shibaswap is similar to dex applications like Uniswap, Sushiswap, and Pancakeswap the dex that leverages the Binance Smart Chain.
During the first 24 hours, Shibaswap gathered more than $1 billion TVL and on Thursday, the TVL jumped to $1.55 billion. SHIB stats show that on Thursday, SHIB is down 5.9% according to Coingecko and SHIB lost 7.9% during the last seven days.
The crypto asset shiba inu (SHIB) now has a decentralized exchange (dex) platform called Shibaswap and since the trading protocol’s launch, the dex has $1.55 billion total value locked (TVL). The SHIB-fueled dex has a lot more liquidity than most platforms today as Shibaswap has been catching up to popular dex platforms like Pancakeswap and Sushiswap.
Shibaswap Dex Gathers Significant Liquidity in 48 HoursShiba inu has a leg up over dogecoin and baby doge this week as the meme-based crypto asset has launched a dex platform called Shibaswap. The dex Shibaswap is similar to dex applications like Uniswap, Sushiswap, and Pancakeswap the dex that leverages the Binance Smart Chain.
During the first 24 hours, Shibaswap gathered more than $1 billion TVL and on Thursday, the TVL jumped to $1.55 billion. SHIB stats show that on Thursday, SHIB is down 5.9% according to Coingecko and SHIB lost 7.9% during the last seven days.
The Risk Level Of Bitcoin’s Dependency On MicroStrategy Is Out The Roof
Microstrategy first stormed the Bitcoin market in August of 2020, when it made a purchase of 21,454 BTC at a total aggregate purchase price of $250 million.
The market was thrilled to have the software intelligence company make a move on Bitcoin, and the excited chants increased when MicroStrategy followed up that purchase with a 16,796 BTC buy for a price of $175 million in September of the same year.
Microstrategy first stormed the Bitcoin market in August of 2020, when it made a purchase of 21,454 BTC at a total aggregate purchase price of $250 million.
The market was thrilled to have the software intelligence company make a move on Bitcoin, and the excited chants increased when MicroStrategy followed up that purchase with a 16,796 BTC buy for a price of $175 million in September of the same year.
Many Crypto Experts Believe Ethereum Will Overpower BTC
Over the past week, talk surrounding bitcoin has been invigorated considering the world’s number one digital currency by market cap has shot up to just under $40,000 for the first time in well over a month. As good as the news is, it is easy to allow bitcoin to overshadow Ethereum and many other heavy hitters within the crypto space, but one panel of experts refuses to turn away from competing altcoins.
Ethereum Is Climbing Up the Financial LadderEthereum is the second largest cryptocurrency by market cap and the number one coin going head-to-head with bitcoin. At the time of writing, the asset is trading for approximately $2,300 per unit, and the experts in question say that the currency could potentially double its present price to about $4,600 by the end of the year. They are rather confident that Ethereum will potentially leave bitcoin in the dust over the coming months.
Over the past week, talk surrounding bitcoin has been invigorated considering the world’s number one digital currency by market cap has shot up to just under $40,000 for the first time in well over a month. As good as the news is, it is easy to allow bitcoin to overshadow Ethereum and many other heavy hitters within the crypto space, but one panel of experts refuses to turn away from competing altcoins.
Ethereum Is Climbing Up the Financial LadderEthereum is the second largest cryptocurrency by market cap and the number one coin going head-to-head with bitcoin. At the time of writing, the asset is trading for approximately $2,300 per unit, and the experts in question say that the currency could potentially double its present price to about $4,600 by the end of the year. They are rather confident that Ethereum will potentially leave bitcoin in the dust over the coming months.
SpaceSwap and UniFarm Unite for Upcoming Cohort 19 from 10th August at 13:30 UTC
SpaceSwap is happy to announce that starting on 10th August 2021, the platform’s native token MILK2 will become part of a united farming pool. Cohort 19 from UniFarm will start at 13:30 UTC on the appointed day and last for 180 days! This is a great opportunity for all MILK2 holders to stake their tokens and farm multiple-token rewards. UniFarm’s Cohort 19 will be going live on Binance Smart Chain (BSC).
What is a ‘cohort’ and how does it work?An inventive farming solution, the Cohort 19 pool from UniFarm provides users with a unique opportunity to receive rewards in multiple tokens for staking only one type of token. Cohorts run in sequence and last for a specific period of time. They have a start date and an end date. Only top-tier projects are brought together to provide users with the best staking solution possible.
SpaceSwap is happy to announce that starting on 10th August 2021, the platform’s native token MILK2 will become part of a united farming pool. Cohort 19 from UniFarm will start at 13:30 UTC on the appointed day and last for 180 days! This is a great opportunity for all MILK2 holders to stake their tokens and farm multiple-token rewards. UniFarm’s Cohort 19 will be going live on Binance Smart Chain (BSC).
What is a ‘cohort’ and how does it work?An inventive farming solution, the Cohort 19 pool from UniFarm provides users with a unique opportunity to receive rewards in multiple tokens for staking only one type of token. Cohorts run in sequence and last for a specific period of time. They have a start date and an end date. Only top-tier projects are brought together to provide users with the best staking solution possible.
Some really interesting news about TrendGuru AI project has been popping up in many crypto related media in the last few days. It looks like Artificial Intelligence has started a revolution in the crypto market!
TrendGuru AI - a very old project in the field of market data analysis, announces revolutionary results and finally goes public. This is bound to be a game changer in the cryptocurrency markets. The best AI analytics is now available to everyone with @TrendGuruBot.
«After 6 years of developing and testing our artificial intelligence on our deposits, we are ready to present you the latest and greatest version of our robot. It is an artificial intelligence bot that provides high-profit and low-risk signals for trading in cryptocurrency markets. The technology is based only on pure mathematics and the latest developments in the field of self-learning systems. Simply following the instructions of the system will allow you to consistently receive three-digit returns every year.»
Read more in TrendGuruAI channel and earn hundreds of percent even in a falling market! Definitely recommended!
TrendGuru AI - a very old project in the field of market data analysis, announces revolutionary results and finally goes public. This is bound to be a game changer in the cryptocurrency markets. The best AI analytics is now available to everyone with @TrendGuruBot.
«After 6 years of developing and testing our artificial intelligence on our deposits, we are ready to present you the latest and greatest version of our robot. It is an artificial intelligence bot that provides high-profit and low-risk signals for trading in cryptocurrency markets. The technology is based only on pure mathematics and the latest developments in the field of self-learning systems. Simply following the instructions of the system will allow you to consistently receive three-digit returns every year.»
Read more in TrendGuruAI channel and earn hundreds of percent even in a falling market! Definitely recommended!
Not sure what to do with ERC-20 tokens of failed projects?
Project iQuantXchange (https://iquant.exchange) swap ERC-20 tokens of failed projects for IQX token. The startup has been around for over a year, and during that time it has established itself as a stable platform for swapping worthless tokens for the promising IQX token, which will become the utilitarian token of their new exchange service.
The iQuantXchange will distribute all proceeds from transaction fees to all IQX token holders and is potentially a very powerful investment tool. So powerful, in fact, that some users are buying tokens from failed projects to exchange them for IQX.
To participate in this swap you just need to go to their website https://iquant.exchange, go to Swap Rate Checker section and enter the token you want to get rid of. You will be shown the exchange rate. Then just register and make the exchange. Get answers to questions about this project you can here: https://iquantx.medium.com/learn-about-the-project-from-this-faq-948250871307 or in the project's Telegram group @iQuantX
Project iQuantXchange (https://iquant.exchange) swap ERC-20 tokens of failed projects for IQX token. The startup has been around for over a year, and during that time it has established itself as a stable platform for swapping worthless tokens for the promising IQX token, which will become the utilitarian token of their new exchange service.
The iQuantXchange will distribute all proceeds from transaction fees to all IQX token holders and is potentially a very powerful investment tool. So powerful, in fact, that some users are buying tokens from failed projects to exchange them for IQX.
To participate in this swap you just need to go to their website https://iquant.exchange, go to Swap Rate Checker section and enter the token you want to get rid of. You will be shown the exchange rate. Then just register and make the exchange. Get answers to questions about this project you can here: https://iquantx.medium.com/learn-about-the-project-from-this-faq-948250871307 or in the project's Telegram group @iQuantX
Forwarded from TrendGuru AI
Great deal from the first half of August. Very fast, very profitable.
💵💵💵
Closed deal DENT/USDT
Open: $0.00231274, 04.08.2021
Close: $0.00462374, 13.08.2021
Profit: +99.92%
Duration: 9 days
Briefly about the instrument:
Dent is a revolutionary player in the market of mobile communications and data services. Today, around half of the world’s population has restricted access to mobile services because of the high prices traditional mobile carriers offer. Dent brings in the power of blockchain technology to revolutionize this and provide global access to mobile airtime and data.
Dent eliminates the understanding that your mobile data is tied to your location by becoming a global digital mobile operator. Dent offers plans that suit today’s global citizens’ needs by removing roaming fees and introducing international mobile plans. Everything on the Dent platform is purchased through DENT tokens, meaning that all transactions are recorded on the blockchain, and there is no chance for a customer to pay for something and not receive it. Unlike traditional mobile operators, Dent aims to make mobile airtime and data available globally to anyone interested, regardless of their location.
Subscribe to @TrendGuruBot and earn hundreds of percent in any market conditions.
💵💵💵
Closed deal DENT/USDT
Open: $0.00231274, 04.08.2021
Close: $0.00462374, 13.08.2021
Profit: +99.92%
Duration: 9 days
Briefly about the instrument:
Dent is a revolutionary player in the market of mobile communications and data services. Today, around half of the world’s population has restricted access to mobile services because of the high prices traditional mobile carriers offer. Dent brings in the power of blockchain technology to revolutionize this and provide global access to mobile airtime and data.
Dent eliminates the understanding that your mobile data is tied to your location by becoming a global digital mobile operator. Dent offers plans that suit today’s global citizens’ needs by removing roaming fees and introducing international mobile plans. Everything on the Dent platform is purchased through DENT tokens, meaning that all transactions are recorded on the blockchain, and there is no chance for a customer to pay for something and not receive it. Unlike traditional mobile operators, Dent aims to make mobile airtime and data available globally to anyone interested, regardless of their location.
Subscribe to @TrendGuruBot and earn hundreds of percent in any market conditions.
Risky Business? Here Are the Remaining Threats to Bitcoin, According to Crypto Analyst Scott Melker
Top crypto analyst, trader and host of The Wolf Of All Streets podcast Scott Melker is naming a threat that he believes looms large over Bitcoin’s future.
In an interview with Kitco News, Melker discusses the regulatory threats that Bitcoin (BTC) could face in the near future as the king coin potentially becomes too large to escape governmental reach.
Melker says that Bitcoin will inevitably become the subject of further regulation and scrutiny in terms of the type regulation the asset will face.
Top crypto analyst, trader and host of The Wolf Of All Streets podcast Scott Melker is naming a threat that he believes looms large over Bitcoin’s future.
In an interview with Kitco News, Melker discusses the regulatory threats that Bitcoin (BTC) could face in the near future as the king coin potentially becomes too large to escape governmental reach.
Melker says that Bitcoin will inevitably become the subject of further regulation and scrutiny in terms of the type regulation the asset will face.
Forwarded from TrendGuru AI
One more great deal in August. Low risk. Huge profit. Everything as we love.
💵💵💵
Closed deal IOTX/USDT
Open: $0.021736, 04.08.2021
Close: $0.070366, 24.08.2021
Profit: +223.73%
Duration: 21 days
Briefly about the instrument:
IoTeX is the decentralized backbone for machine economics which serves machines ranging from smart home devices to autonomous vehicles. To this end, IoTeX has built and launched a fast, high-performance, and EVM-compatible blockchain that provides flexibility and scalability for various applications. Also, middlewares and Dapps are built on top of the blockchain to bring self-sovereign devices and real-world oracles into reality.
IoTeX has several mechanisms that ensure the privacy of users and transactions. Some of these are ring signatures and the reliable payment code that hides the transaction receiver’s address. Delegated proof-of-stake works by having stakeholders vote for the block producers on the network. The number of block producers is set and once they are elected, they are responsible for adding new blocks to the blockchain. For doing it, they receive rewards that they can distribute to the stakeholders who voted for them, incentivizing block producers to continue working and stakeholders to continue voting for block producers.
This is a very promising project with a strong and experienced development team. Subscribe to @TrendGuruBot and earn hundreds of percent on such projects with our AI.
💵💵💵
Closed deal IOTX/USDT
Open: $0.021736, 04.08.2021
Close: $0.070366, 24.08.2021
Profit: +223.73%
Duration: 21 days
Briefly about the instrument:
IoTeX is the decentralized backbone for machine economics which serves machines ranging from smart home devices to autonomous vehicles. To this end, IoTeX has built and launched a fast, high-performance, and EVM-compatible blockchain that provides flexibility and scalability for various applications. Also, middlewares and Dapps are built on top of the blockchain to bring self-sovereign devices and real-world oracles into reality.
IoTeX has several mechanisms that ensure the privacy of users and transactions. Some of these are ring signatures and the reliable payment code that hides the transaction receiver’s address. Delegated proof-of-stake works by having stakeholders vote for the block producers on the network. The number of block producers is set and once they are elected, they are responsible for adding new blocks to the blockchain. For doing it, they receive rewards that they can distribute to the stakeholders who voted for them, incentivizing block producers to continue working and stakeholders to continue voting for block producers.
This is a very promising project with a strong and experienced development team. Subscribe to @TrendGuruBot and earn hundreds of percent on such projects with our AI.
El Salvador Lawmakers Endorse $150,000,000 Bitcoin Trust
El Salvador’s legislative assembly has approved a large trust one week before Bitcoin (BTC) becomes legal tender.
The allocated $150 million will – among other things – help facilitate exchange with the US dollar, which is the nation’s other official currency.
To finance the trust, $500 million will be redirected from a previous loan with the Central American Bank for Economic Integration (CABEI) to aid small and medium-sized companies.
Of the funds, $23.3 million will be used to build the Chivo ATM systems, and another $30 million will reportedly be used to help citizens learn how to use the Chivo wallet.
El Salvador’s legislative assembly has approved a large trust one week before Bitcoin (BTC) becomes legal tender.
The allocated $150 million will – among other things – help facilitate exchange with the US dollar, which is the nation’s other official currency.
To finance the trust, $500 million will be redirected from a previous loan with the Central American Bank for Economic Integration (CABEI) to aid small and medium-sized companies.
Of the funds, $23.3 million will be used to build the Chivo ATM systems, and another $30 million will reportedly be used to help citizens learn how to use the Chivo wallet.
Localcryptos P2P Market Adds Support for Bitcoin Cash
Localcryptos, the noncustodial P2P cryptocurrency market, has added bitcoin cash to its platform. This is the fifth cryptocurrency the platform has taken on for P2P transactions after having rebranded from Localethereum. The market will leverage the OP_CHECKDATASIG opcode, which presents some advantages. Also, users from Bitcoin.com Local will be able to migrate their reputation to the Localcryptos platform.
Localcryptos Adds Bitcoin CashLocalcryptos, one of the leading noncustodial cryptocurrency P2P markets, has added support for bitcoin cash transactions on its platform. Now users can deposit, trade, and withdraw bitcoin cash from the Localcryptos platform. This is the fifth cryptocurrency added to the service after its rebrand from Localethereum. Before, the company added litecoin and dash, after bitcoin and ethereum.
Localcryptos declared that to construct the noncustodial experience for bitcoin cash, it used the OP_CHECKDATASIG opcode, which presents a series of advantages and is only available on the Bitcoin Cash blockchain. Localcryptos stated that while the experience is the same for the end-user:
From a programmer’s perspective, the non-custodial Bitcoin Cash P2SH script is more simplistic and intuitive, and it comes with some advantages.
The escrow contracts in the platform make it impossible for Localcryptos to spend the funds, and they can only retrieve the escrowed funds to the buyer or to the seller in the case of a dispute. Bitcoin Cash is especially useful for noncustodial P2P transactions due to its low tx fees, which rarely cross the one-cent barrier.
Bitcoin.com Local Closes Its DoorsBitcoin.com Local, a bitcoin cash P2P market, will allow users to migrate their trading history and reputation to Localcryptos before closing its doors. The platform announced it is “passing the torch” to Localcryptos, and will allow the transfer of reputation and trading history, so users of the platform won’t have to start from scratch. Bitcoin.com Local didn’t announce the exact date of its closing, but invited users to withdraw their funds from their wallets.
According to the platform, the users will enjoy a better service due to the more diverse and liquid pool of assets that Localcryptos can offer its users. The announcement stressed:
On Localcryptos, you’ll have 40+ ways to pay, all messages are end-to-end encrypted, and trades are facilitated by the same blockchain-powered escrow service.
Localcryptos, the noncustodial P2P cryptocurrency market, has added bitcoin cash to its platform. This is the fifth cryptocurrency the platform has taken on for P2P transactions after having rebranded from Localethereum. The market will leverage the OP_CHECKDATASIG opcode, which presents some advantages. Also, users from Bitcoin.com Local will be able to migrate their reputation to the Localcryptos platform.
Localcryptos Adds Bitcoin CashLocalcryptos, one of the leading noncustodial cryptocurrency P2P markets, has added support for bitcoin cash transactions on its platform. Now users can deposit, trade, and withdraw bitcoin cash from the Localcryptos platform. This is the fifth cryptocurrency added to the service after its rebrand from Localethereum. Before, the company added litecoin and dash, after bitcoin and ethereum.
Localcryptos declared that to construct the noncustodial experience for bitcoin cash, it used the OP_CHECKDATASIG opcode, which presents a series of advantages and is only available on the Bitcoin Cash blockchain. Localcryptos stated that while the experience is the same for the end-user:
From a programmer’s perspective, the non-custodial Bitcoin Cash P2SH script is more simplistic and intuitive, and it comes with some advantages.
The escrow contracts in the platform make it impossible for Localcryptos to spend the funds, and they can only retrieve the escrowed funds to the buyer or to the seller in the case of a dispute. Bitcoin Cash is especially useful for noncustodial P2P transactions due to its low tx fees, which rarely cross the one-cent barrier.
Bitcoin.com Local Closes Its DoorsBitcoin.com Local, a bitcoin cash P2P market, will allow users to migrate their trading history and reputation to Localcryptos before closing its doors. The platform announced it is “passing the torch” to Localcryptos, and will allow the transfer of reputation and trading history, so users of the platform won’t have to start from scratch. Bitcoin.com Local didn’t announce the exact date of its closing, but invited users to withdraw their funds from their wallets.
According to the platform, the users will enjoy a better service due to the more diverse and liquid pool of assets that Localcryptos can offer its users. The announcement stressed:
On Localcryptos, you’ll have 40+ ways to pay, all messages are end-to-end encrypted, and trades are facilitated by the same blockchain-powered escrow service.
Stratis Joins ‘APPG Blockchain’ To Help Guide UK Blockchain Policy
September 20, 2021 – London, United Kingdom
Stratis has joined the UK’s ‘all party parliamentary group on blockchain’ (APPG Blockchain) to contribute its knowledge and experience of deploying blockchain for innovative use cases.APPG Blockchain includes organizations like Capita, the IOTA Foundation, SAP and the British Standards Institute (BSI), who collaborate with an array of experts in public evidence forums to provide tangible recommendations to policy-makers working on the UK’s approach to blockchain.
As one of the UK’s most prominent blockchain projects, the Stratis team will contribute its knowledge and experience from serving enterprise and open-source blockchain use cases.
September 20, 2021 – London, United Kingdom
Stratis has joined the UK’s ‘all party parliamentary group on blockchain’ (APPG Blockchain) to contribute its knowledge and experience of deploying blockchain for innovative use cases.APPG Blockchain includes organizations like Capita, the IOTA Foundation, SAP and the British Standards Institute (BSI), who collaborate with an array of experts in public evidence forums to provide tangible recommendations to policy-makers working on the UK’s approach to blockchain.
As one of the UK’s most prominent blockchain projects, the Stratis team will contribute its knowledge and experience from serving enterprise and open-source blockchain use cases.
Third-Largest Bank in France Societe Generale Proposes Use of Defi Protocol Makerdao
French multinational investment bank and financial services company, Societe Generale, has proposed to leverage the decentralized finance (defi) protocol Makerdao. The proposal dubbed “Security Tokens Refinancing” was published on October 1 to Makerdao’s forums and the submission aims to utilize the DAI stablecoin to refinance a covered bond concept.
Societe Generale Proposes Leveraging Makerdao and DAI Stablecoins to Refinance Bond TokenThe international bank Societe Generale’s digital currency division has submitted a proposal on Makerdao’s governance forums (MIP6 application) and the bank wants to refinance a bond token. The “covered bond token,” as it’s called, was issued on the Ethereum blockchain last year. The proposal is on “behalf of European investment firm Societe Generale-Forge (SG-Forge),” the MIP6 application notes.“This refinancing transaction experimentation is in line with the innovative process and solutions developed by SG-Forge,” the bank’s digital currency division explains. “This experimentation combines traditional capital market activities with the decentralized finance emerging and growing ecosystem.” Societe Generale’s summary of the proposal adds:
The “OFH Tokens”: the OFH Tokens are characterized as covered bonds under French Law backed by home loans and benefiting from a statutory privilege, issued by Societe Generale SFH (SG SFH) a specialized credit institution with the status of Société de Financement de l’Habitat delivered by the Authorité de Contrôle Prudentiel (as further described below) in the form of security tokens in the Ethereum public blockchain.
French multinational investment bank and financial services company, Societe Generale, has proposed to leverage the decentralized finance (defi) protocol Makerdao. The proposal dubbed “Security Tokens Refinancing” was published on October 1 to Makerdao’s forums and the submission aims to utilize the DAI stablecoin to refinance a covered bond concept.
Societe Generale Proposes Leveraging Makerdao and DAI Stablecoins to Refinance Bond TokenThe international bank Societe Generale’s digital currency division has submitted a proposal on Makerdao’s governance forums (MIP6 application) and the bank wants to refinance a bond token. The “covered bond token,” as it’s called, was issued on the Ethereum blockchain last year. The proposal is on “behalf of European investment firm Societe Generale-Forge (SG-Forge),” the MIP6 application notes.“This refinancing transaction experimentation is in line with the innovative process and solutions developed by SG-Forge,” the bank’s digital currency division explains. “This experimentation combines traditional capital market activities with the decentralized finance emerging and growing ecosystem.” Societe Generale’s summary of the proposal adds:
The “OFH Tokens”: the OFH Tokens are characterized as covered bonds under French Law backed by home loans and benefiting from a statutory privilege, issued by Societe Generale SFH (SG SFH) a specialized credit institution with the status of Société de Financement de l’Habitat delivered by the Authorité de Contrôle Prudentiel (as further described below) in the form of security tokens in the Ethereum public blockchain.
rhoToken Successfully Launched on Flurry Finance DApp
Flurry Finance is announcing an exciting development in the world of DeFi, as the successful launch of the rhoToken marks a next level evolution in yield aggregation! Users are now able to freely earn, trade, and spend deposit tokens while farming without restrictions or lockup periods. The future of yield farming has arrived!
The Debut of the rhoTokenrhoTokens are pegged to stablecoins on a 1:1 basis and support 3 kinds of stablecoin deposits. Users can now use the Flurry Finance DApp to convert USDT, USDC, and BUSD stablecoins into the corresponding rhoTokens of rhoUSDT, rhoUSDC, and rhoBUSD in order to earn passive income through the Flurry Protocol’s yield aggregator without the usual hassle, complications, and high gas fees associated with lending tokens to different DeFi lending protocols and exchanges directly.
To fully explain this momentous occasion, it’s important to know how the rhoToken differs from other yield farming deposit tokens. At its most basic form, the rhoToken is a deposit token that operates on the basis of a pegged value and elastic supply. This means that while earning yield, the number of rhoTokens in a user’s wallet changes, with freshly earned rhoTokens rebased into users’ wallets at 8:00am UTC everyday. This differs from most traditional yield farming deposit tokens, whose values change while earning yield, and are therefore subject to lockup periods where they cannot be exchanged, spent or redeemed. Since the rhoToken’s base value is pegged and has no lock up period, it can do all of these things at any time!
Flurry Finance is announcing an exciting development in the world of DeFi, as the successful launch of the rhoToken marks a next level evolution in yield aggregation! Users are now able to freely earn, trade, and spend deposit tokens while farming without restrictions or lockup periods. The future of yield farming has arrived!
The Debut of the rhoTokenrhoTokens are pegged to stablecoins on a 1:1 basis and support 3 kinds of stablecoin deposits. Users can now use the Flurry Finance DApp to convert USDT, USDC, and BUSD stablecoins into the corresponding rhoTokens of rhoUSDT, rhoUSDC, and rhoBUSD in order to earn passive income through the Flurry Protocol’s yield aggregator without the usual hassle, complications, and high gas fees associated with lending tokens to different DeFi lending protocols and exchanges directly.
To fully explain this momentous occasion, it’s important to know how the rhoToken differs from other yield farming deposit tokens. At its most basic form, the rhoToken is a deposit token that operates on the basis of a pegged value and elastic supply. This means that while earning yield, the number of rhoTokens in a user’s wallet changes, with freshly earned rhoTokens rebased into users’ wallets at 8:00am UTC everyday. This differs from most traditional yield farming deposit tokens, whose values change while earning yield, and are therefore subject to lockup periods where they cannot be exchanged, spent or redeemed. Since the rhoToken’s base value is pegged and has no lock up period, it can do all of these things at any time!