Wolf Crypto News
3.81K subscribers
1.12K photos
37 videos
12 files
2.96K links
Wolf Crypto News
Download Telegram
Chad finally found his love STACY and they're launching Chadswap

If you wanna farm STACY, you'll need a common NFT to get that sweet, sweet 15% bonus. (Yes, using NFT to get yield farming bonus)

Throw in your ETH address and pray you get your Slick Sam, Blood Lau's, and Common $FEW Virgin cards.

P.S. cards get burned when staked for the 15% bonus, so those 1000 commons won't be so common soon...

https://medium.com/@chadsvc/chadswap-stacy-nft-airdrop-cb895e1073f3
Kucoin Exposed - Part One

The innocuous title makes this article seem like just another generic project update however it's really about all the shady stuff that went down between Kucoin and projects as part of the Kucoin hack, and other general shady processes along the way...It's a fairly long read but I encourage...implore...you to take a few minutes out of your weekend to read this...

KUCOIN EXPOSED (a much more appropriate title...) - https://medium.com/vid-foundation/kucoin-can-now-open-vi-withdrawals-d77c783f4541

Here's a semi TLDR with some extra information and analysis...

1. Accusations of Price Suppression by Kucoin Prior to the Hack...

How you say? Well this is the power of a CEX right, you have on-chain entry and exit, but once a token exists within their walled garden, it's essentially just an internal database...This means, and this is a direct accusation in the article, that an exchange can "mint" more tokens then they actually have and use these tokens are part of the internal trading on their exchange.

Remember infinite mint bugs in all those projects rugging over the last little while? It's essentially that...except because it's not on-chain and behind the walled garden, the "slow rug" is never uncovered...Of course except when there's a hack which exposes a bunch of on-chain data and forces reconciliation with the internal database...

VI accuse Kucoin of having SEVERAL MILLION extra tokens that were unaccounted for...hmm I wonder what they were using those for...

2. Kucoin's Insurance Fund (or lack thereof), Token Swaps and Bulling Tactics

Firstly, if you think Kucoin actually have an insurance fund that covers them for $150m/$200m...LOL...secondly, even if they did, it probably wouldn't cover the actions of an internal malicious actor and a private key leak, as admitted by Kucoin. So when you're put in a position like Kucoin is, what are your other available options?

The simplest one is to force the affected projects to do a token swap. This means that instead of Kucoin being liable for the lost amounts, they simply force the project to do a token swap and in the process reduce million dollar + liabilities down to almost nothing, as they then don't have to cover the cost of the lost tokens when new tokens can be issued.

Of course, you'd think that as part of that process, if we're talking the millions of dollars Kucoin would have to cover, that you'd cover the cost of the token swap on the projects behalf, however we have it on good authority from multiple projects that Kucoin didn't even want to do that, and instead forced the token swap costs back onto the projects themselves, in some cases to the tune of hundred of thousands of dollars.

This is why some projects have been resistant to token swaps, as they either don't have the money or the technical abilities to do the token swap, or they (fairly) feel that this is a ridiculous request from someone who should bear full responsibility and liability for any lost funds. After all, this comes with the assurances of listing on a centralised exchange right?

Bonus - Prior to the hack, Kucoin was asking projects to pay a $300K listing fee!

This doesn't even take into account the losses that both projects and users suffered as a result of affected tokens being liquidated on DEX's by the hacker and the associated losses to LP's on those DEX's.
Kucoin Exposed - Part Two

3. Accusations of Price Suppression by Kucoin
After the Hack, Financial Pressure and Delays

So taking the above into account, if there are a few resistant projects re token swaps, as Kucoin, what do you do? Obviously there is some basic math in play. You owe a certain amount of tokens, at a certain price, to the users of your exchange. The example used in this article makes it pretty clear -

"If VI was still trading on KuCoin at 10 cents and 10 million VI is stolen, KuCoin is at a loss of $1 million. But if the price of VI goes down to 1 cent, then now their loss is only $100,000."

So forcing the price down and purchasing tokens to cover the losses at a lower price is part of this, but this also puts a huge amount of pressure on a project, to see their token getting rekt on an exchange while they are powerless to do anything about it (except do a token swap at their own cost of course!). If you're doing this though, it takes some time, so how can you stall for more time to carry out this process?

By delaying withdrawals of the token of course! This has the added benefit of causing a cascading effect in which users will liquidate affected tokens (remember Kucoin still allowed trading on affected tokens while all this was happening...LOL) in order to purchase other tokens that could be withdrawn.

By drawing out this process and delaying the withdrawal of funds by users, this also gives Kucoin more capital in which they can operate in the meantime, so the dreaded run on the bank scenario doesn't happen, where users try to withdraw more funds than Kucoin actually has...

If that wasn't enough, the article also accuses Kucoin of locking affected projects/tokens funds, just to stick the knife in a little more and apply a little extra pressure...

4. Botted Brigading of Telegram Groups by Kucoin...

Bots and Telegram, name a more iconic duo...However having an exchange who's main priority should be dealing with a massive hack, attributed by some as the third biggest hack in crypto history, spending their valuable time and resources brigading Telegram groups of projects with bot accounts forcing their own agenda on projects and their users speaks volumes of Kucoin's ethics and business practices.
Kucoin Exposed - Part Three

Mad
respect to Jag Singh of VI for having the balls to call this out. Along with Stuart Farmer from Lamden, you two are our "Wolf Crypto Chads of the Week". It is only when respected voices in the community speak up in such a manner, with irrefutable evidence, that more of crypto's dirty secrets are exposed, and as such, helps move the space forward by exposing such tactics by some of the "Centralised Crypto Cabal" that pray and manipulate not just users, but projects also.

To all the project founders and leads who read this channel, of which there are many, and to those whom this post may be passed onto, this is a call to action for you. With the resurgence of DEX's and the supporting liquidity that has come with the DEX renaissance, projects no longer need to make a deal with the "CEX Devil". The challenge of CEX v DEX was always that with a CEX came the required and requested liquidity and this is no longer solely the case.

There is just as much, if not more liquidity that now lives on DEX's and unlike the CEX style devil's deal, DEX's allow a project to control it's own destiny, support and incentivise their own liquidity and not be beholden to the extortionary tactics of centralised exchanges.
RIP SAFE2
https://medium.com/@coverprotocol/cover-tokenomics-65c1a4b67a24

tl;dr:
• 52K total supply turning to 160K
• holders get only 0.5 per 1 token swapped
• rest will be introduced through "shield mining" in the next year

Addition of inflation, 84% dilution to holdings, and -65% in price, not a good day for token holders...
Please pump muh bags, will be forever grateful

Announce digital currency, an app for every American and stimulus direct to the digital wallet...

https://twitter.com/zerohedge/status/1318164549787357184
⭐️ Fuse AMA 21/10/20 8am ET 1pm CET ⭐️
Time until AMA - https://bit.ly/3kf2Jne

🗣 AMA is in our public channel https://t.me/WolfCryptoPub, so please join before we begin. 🎙

🗣 Project Summary -

Fuse enables businesses and communities around the world to unleash the power of mobile payments. With Fuse, entrepreneurs and community leaders can now upgrade their existing communities into thriving micro-economies by providing them the tools to build and maintain their own custom-branded mobile wallet and currency.

Currently for a company or community to enter the mobile payment space they are dependent on existing players such as PayPal and Stripe. Alternatively, they can build their own payment system from scratch. Neither of these options are optimal. Companies such as PayPal and Stripe charge upwards of 3% per transaction and don't allow for individual customization options while building your own payment system produces a huge technical and monetary burden to build.

By using a non-custodial open-source technology users can avoid regulatory, operational and development costs greatly reducing the barrier to entry for all who want to tap into the power of mobile payments.

The cost saved by removing intermediaries (like Visa, Stripe and PayPal) leaves room for local operators to create their own new and unique business models.

The Fuse Ecosystem comprises of three main components -

❇️ Fuse Chain

Fuse-chain is a DPOS blockchain run by a network of validators allowing for fast, low cost and secure transactions to all users on the network.

👉 Learn more about Fuse Chain

❇️ Fuse Studio

Fuse Studio is an easy to use tool that allows entrepreneurs and community leaders to easily customize their currency and wallet with various plugins for extra features and utilities.

👉 Learn more about Fuse Studio

❇️ Fuse Wallet

Fuse wallet is an easy to use mobile application that anyone can download and join of the any of the thousands of micro-economies running on Fuse.

👉 Learn more about Fuse Wallet

🔥More Info:
➡️ Fuse Token Distribution
➡️ Fuse Mesa Token Sale
➡️ Fuse Use Cases
➡️ Boxmining Fuse Interview
➡️
South African Digital Rand (Stable Coin)

👉 Fuse Team:
👩‍🚀 Mark Smargon - CEO & Co-founder
👨‍💼Leon Prouger - Blockchain Development
🧑‍✈️Adar Weinreb - Head of Product
👨‍👩‍👧 Full Team

👉 Fuse Links:
➡️ Website
➡️ Telegram
➡️ Twitter
➡️ Medium
➡️ Github
➡️ Documentation
Wolf Crypto News
The Wolf Crypto STAFI mainnet node is now LIVE! You can nominate and stake your Stafi via our node by following the guide below and using the Wolf Crypto Stafi node address of - 31qzodMLHLbQLVcsRJXMVRS7Z4z9N7Hsqzpy8fPCBkK6HWUG (or by searching for wolf-crypto)…
StaFi is going LARGE!

https://medium.com/stafi/stafi-dao-enters-exploration-phase-partners-with-commonwealth-and-edgeware-65bcdaaf30a9

FEW would be aware, but StaFi has an incentivisation mechanic in place called the StaFi Treasury, designed to motivate individuals or teams who contribute to StaFi.

This treasury is built from actual use of the network and comes from circulation fees, transactions fees, slashing penalties and staking rewards.

This treasury is now moving into the first stage of DAO based governance with the DAO governance tool provided by Commonwealth Labs and Edgeware.

You can already start to participate in the discussion by logging onto https://commonwealth.im/stafi

TLDR - Make a proposal to StaFi to build something of value on the network, if proposal passes, get paid to build on StaFi, it's that simple! 😊
Is this...adoption?

"U.S. account holders will be able to buy, sell and hold cryptocurrencies in their PayPal wallets over the coming weeks, the company said. It plans to expand to Venmo and some countries in the first half of 2021.

PayPal, which has secured the first conditional cryptocurrency license from the New York State Department of Financial Services, will initially allow purchases of bitcoin and other cryptocurrencies called ethereum, bitcoin cash and litecoin, it said. It partners with Paxos Trust Company to offer the service.
"

https://www.reuters.com/article/paypal-cryptocurrency/paypal-to-allow-cryptocurrency-buying-selling-and-shopping-on-its-network-idUSL1N2HB14U
On October 21st we held an AMA with Fuse in our public Telegram channel.

🗣 Project Summary -

Fuse enables businesses and communities around the world to unleash the power of mobile payments. With Fuse, entrepreneurs and community leaders can now upgrade their existing communities into thriving micro-economies by providing them the tools to build and maintain their own custom-branded mobile wallet and currency.

Currently for a company or community to enter the mobile payment space they are dependent on existing players such as PayPal and Stripe. Alternatively, they can build their own payment system from scratch. Neither of these options are optimal. Companies such as PayPal and Stripe charge upwards of 3% per transaction and don't allow for individual customization options while building your own payment system produces a huge technical and monetary burden to build.

By using a non-custodial open-source technology users can avoid regulatory, operational and development costs greatly reducing the barrier to entry for all who want to tap into the power of mobile payments.

The cost saved by removing intermediaries (like Visa, Stripe and PayPal) leaves room for local operators to create their own new and unique business models.

Fuse will be launching a Public Sale on Mesa on October 22nd, 3pm GMT.

Read more:
https://medium.com/@wolfcrypto/fuse-ama-with-wolf-crypto-4ef44b8d72e8
⭐️ EasyFi AMA 22/10/20 7:30am ET 12:30pm CET ⭐️
Time until AMA - https://bit.ly/3mbt5aq

🗣 AMA is in our public channel https://t.me/WolfCryptoPub, so please join before we begin. 🎙

🗣 Project Summary -

EasyFi is a universal layer 2 lending protocol for digital assets. An open and inclusive financial system built upon the most promising layer 2 solution, Matic network.

Considering scalability as the first and most important DNA component of EasyFi ensures faster and cheaper transactions being built into the core of the protocol which enables EasyFi to serve a large number of users and handle millions of transactions.

EasyFi focuses on credit aspects of the protocol, enabling various modules for borrowers to access credit easily and responsibly. EasyFi also enables modules of DeFi based Insurance to protect the capital suppliers from NPAs that might occur in the future as a result of the progression of lending markets.

In Version 1, EasyFi is starting as a Fork of Compound Finance from Ethereum main chain to the Matic network, enabling existing collateral-based secured loans on Layer-2.

EasyFi launched on the 30th of September and quickly grew to over $30m TVL. The $EASY token was listed shortly after on Bitmax.

EasyFi also reduced the short term inflation on the network by reducing the amount of EASY distributed per block in the early stages of the network.

🔥More Info:
➡️ $EASY Distribution and Economics
➡️ EasyFi Q4 Roadmap
➡️ EasyFi Farming Guide
➡️ EasyFi Overview

👉 EasyFi Links:
➡️ Website
➡️ Telegram
➡️ Twitter
➡️ Medium
➡️ Whitepaper
➡️ App
On October 22nd we held an AMA with EasyFi in our public Telegram channel.

Read more: https://wolfcrypto.medium.com/easyfi-ama-with-wolf-crypto-11fa94c927b5

🗣 Project Summary -

EasyFi is a universal layer 2 lending protocol for digital assets. An open and inclusive financial system built upon the most promising layer 2 solution, Matic network.

Considering scalability as the first and most important DNA component of EasyFi ensures faster and cheaper transactions being built into the core of the protocol which enables EasyFi to serve a large number of users and handle millions of transactions.

EasyFi focuses on credit aspects of the protocol, enabling various modules for borrowers to access credit easily and responsibly. EasyFi also enables modules of DeFi based Insurance to protect the capital suppliers from NPAs that might occur in the future as a result of the progression of lending markets.

In Version 1, EasyFi is starting as a Fork of Compound Finance from Ethereum main chain to the Matic network, enabling existing collateral-based secured loans on Layer-2.

EasyFi launched on the 30th of September and quickly grew to over $30m TVL. The $EASY token was listed shortly after on Bitmax.

EasyFi also reduced the short term inflation on the network by reducing the amount of EASY distributed per block in the early stages of the network.

EasyFi just released details of their EasyFi Uniswap LP incentivisation program where you can now earn $EASY by supplying liquidity on Uniswap.
⭐️ CHADS.VC AMA 23/10/20 9am ET 2pm CET ⭐️
Time until AMA - https://bit.ly/2HsQ95v

🎙 The AMA is in our public channel https://t.me/WolfCryptoPub, so please join before we begin.

🗣 Project Summary -

The CHADS token is a social experiment designed to teach Virgins how to trade like a Chad. It is a deflationary coin utilizing a novel burn curve mechanism where the lower the price you sell or transfer CHADS, the more of your tokens are burnt.

CHADS is the first meme token to be built on Polkadot.

What started as a basic token has now evolved into an entire CHADverse, where not only CHADS and STACYS now meet, but where SUSHI and CORE tokenomics collide...

The CHADverse consists of -

The CHADS token
The Chadvolution
ChadSwap, an AMM built on Meter.io
Chads.Limited NFT's
The STACY token

🔥More Info:
➡️ A Chadrospective
➡️ ChadSwap AMM
➡️ NFT Chadventure
➡️ STACY NFT AIrdrop
➡️ STACY Whitelist

👉 CHADS.VC Links:
➡️ Website
➡️ Telegram
➡️ Twitter
➡️ Medium
➡️
Whitepaper
➡️ Chads.Limited NFT's
Wolf Crypto News
We've been asked (again and again) to update this list to include some more recent projects... Like the last list, this is our public list, there is plenty more being worked on behind the scenes! Linear Finance - Starting market cap of just over $1m. Cross…
Wootrade WOO token is about to come of age...and it comes with a few options...

As Wootrade is partnered with the displayed exchanges, users of each exchange will have a chance to take part in the WOO public sale on each platform.

You can choose Gates plainly named "Startup" Sale - https://www.gate.io/en/article/18118

Or MXC's more crypto moonboi "SpaceM" public sale -
https://support.mxc-exchange.com/hc/en-001/articles/360050918712

Or Bitmart's weirdly named "Shooting Star" public sale - https://support.bmx.fund/hc/en-us/articles/360058087353-Wootrade-Network-WOO-Debut-Listing-on-BitMart-Shooting-Star-24h-Flash-Sale-

The token will also be launched on Hoo via a public sale, it's TBA right now as their creative team is currently brainstorming a clever name for it...

All public sales will start at different times on the 29th of October.

More details can be found here - https://medium.com/wootrade/the-woo-token-is-set-to-launch-10-29-on-gate-io-hoo-com-bitmart-and-mxc-e67f11dfd374