🚀 Andre Cronje Reveals Blockchain Operation Costs for Sonic Labs
#AndreCronje #SonicLabs #Blockchain #OperationCosts #Fantom #CryptoExpenses #Oracles #Stablecoins #RPC #Indexing #Dashboards #VRF #Governance #RiskManagement #LegalFees #Compliance #Infrastructure #Marketing #Bounties #Sponsorships #Media #RegulatoryCosts #EventCosts #CryptoFinance
According to Foresight News, Andre Cronje, co-founder of Sonic Labs (formerly Fantom), has disclosed the real costs associated with running a blockchain, even if only partially successful. Cronje detailed that the initial costs for oracles and stablecoins amount to $7.5 million, with annual costs of $3.5 million. Additionally, the initial costs for RPC, indexing, and dashboards are $200,000, with yearly expenses of $70,000. Other annual costs include $50,000 for VRF, keepers, wallet support, and governance, and $80,000 for explorers, custody, and risk management, totaling $13.2 million. These figures apply specifically to Sonic Labs.
Cronje also provided a breakdown of Sonic Labs' expenses from the previous year. Research and development costs were $10.9 million, while the ecosystem expenses reached $10.7 million. Legal fees amounted to $410,000, and compliance costs were $3.8 million. Infrastructure expenses were $2.4 million, marketing costs were $1.4 million, bounties were $1.2 million, sponsorships were $400,000, media expenses were $350,000, regulatory costs were $200,000, and event costs were $100,000. The total costs for the year amounted to $35.6 million. Cronje noted that these figures do not include the costs associated with listing on exchanges, which they fortunately do not need to do this year.#AndreCronje #SonicLabs #Blockchain #OperationCosts #Fantom #CryptoExpenses #Oracles #Stablecoins #RPC #Indexing #Dashboards #VRF #Governance #RiskManagement #LegalFees #Compliance #Infrastructure #Marketing #Bounties #Sponsorships #Media #RegulatoryCosts #EventCosts #CryptoFinance
🚀 Japan's Conservative Stance on Cryptocurrency ETFs Highlights Regulatory Hesitation
#Japan #Cryptocurrency #ETFs #Regulation #DigitalAssets #TaxPolicy #Investment #AssetManagement #MarketDistinction
According to BlockBeats, the approval of spot cryptocurrency ETFs in the United States, Hong Kong, and other markets has highlighted Japan's conservative and distinct regulatory approach. Japan has long positioned itself as a digital asset-friendly nation, aiming to become a larger asset management hub. However, at the policy level, Japan remains hesitant to relax restrictions, remove tax and regulatory barriers, and promote widespread adoption of cryptocurrencies. Despite some Japanese companies preparing to launch digital asset products, tax and regulatory constraints remain significant obstacles.
In Japan, general cryptocurrency investment gains are classified as miscellaneous income, with a maximum tax rate of 55%. However, ETFs traded on the securities market are considered capital gains, subject to a lower tax rate of approximately 20%, making it a more attractive option for investors seeking portfolio diversification through digital assets. Spot cryptocurrency ETFs would also benefit from tax advantages such as loss carryforwards. However, according to Keisuke Kimura, Vice President of the Japan Crypto Asset Business Association and former financial advisor at SMBC Nikko Securities, significant changes are needed for regulators to take action and introduce these potential tax benefits.#Japan #Cryptocurrency #ETFs #Regulation #DigitalAssets #TaxPolicy #Investment #AssetManagement #MarketDistinction
🚀 Web3 Platform Talent Protocol To Launch Talent Token On Base Chain
#Web3 #TalentProtocol #TALENTtoken #BaseChain #Basecoin #ReputationEcosystem
According to Odaily, Web3 platform Talent Protocol has announced that it will launch the TALENT token on the Base chain on October 29 at 20:00 UTC+8. TALENT is a Basecoin designed to create an open reputation ecosystem.#Web3 #TalentProtocol #TALENTtoken #BaseChain #Basecoin #ReputationEcosystem
🚀 Ethereum-Based Meme Project MAGA Sees Significant Price Surge
#Ethereum #MemeProject #MAGA #PriceSurge #Cryptocurrency #MemeCoin #MarketCapitalization #ETH
According to Odaily, the on-chain data indicates that the price of the Ethereum-based meme project MAGA has surpassed $0.00003093, marking a 114% increase within one hour. The market capitalization of MAGA has now reached $1.3 million. MAGA, which stands for Make America Great Again, is a meme coin themed around the U.S. presidential election.#Ethereum #MemeProject #MAGA #PriceSurge #Cryptocurrency #MemeCoin #MarketCapitalization #ETH
🚀 Ethereum-Based Meme Coin Daram To Appear On Nasdaq Screen In Times Square
#Ethereum #MemeCoin #Daram #Nasdaq #TimesSquare #FairMinting #Blockchain #Cryptocurrency #InvestmentRisks #ETH
According to BlockBeats, the Ethereum network's meme coin Daram will be featured on the Nasdaq advertising screen in New York's Times Square on October 25 at 11:30 local time. Daram is a meme project minted fairly on the Ethereum network, with over 42,000 addresses participating on the night of its release.
The fair minting process has gained popularity in the meme market due to its perceived fairness, leading to its adoption by multiple public chains. Currently, Daram has a market value of $12 million.
BlockBeats advises users to exercise caution when investing in meme coins, as they currently lack practical use cases and are subject to significant price volatility.#Ethereum #MemeCoin #Daram #Nasdaq #TimesSquare #FairMinting #Blockchain #Cryptocurrency #InvestmentRisks #ETH
🚀 Beyond Inc. To Lay Off 20% Of Workforce In Q4
#BeyondInc #layoffs #cryptocurrency #workforce #CPO #October2024
According to Odaily, cryptocurrency concept stock Beyond Inc. is set to lay off approximately 20% of its workforce. The layoffs are expected to be primarily implemented in the fourth quarter of this year. Additionally, the company's Chief Product Officer (CPO), Robinson, has been dismissed without cause, effective from October 22, 2024.#BeyondInc #layoffs #cryptocurrency #workforce #CPO #October2024
🚀 JellyC And Trovio Asset Management Merge To Attract Institutional Investors
#JellyC #TrovioAssetManagement #merger #cryptocurrency #hedgefund #institutionalinvestors #pensionfunds #digitalassets #Australia #superannuationfunds #regulations #assetsundermanagement
According to Odaily, cryptocurrency hedge fund management companies JellyC and Trovio Asset Management have merged, aiming to attract institutional investors such as pension funds. Executives from the companies revealed that Australia-based JellyC will become the majority shareholder of the merged entity. Michael Prendiville, co-founder of JellyC, stated that the merger will help open doors to large investors in the Asia-Pacific region, eventually including Australia's superannuation funds. To date, Australia's AUD 3.9 trillion (USD 2.6 trillion) pension industry has been reluctant to invest in digital assets. However, with Australia tightening cryptocurrency regulations, Prendiville expects this situation to change in the coming years. Prendiville mentioned that the merged business aims to increase its total assets under management by 150% from current levels to AUD 250 million by mid-2026. Trovio CEO Jon Deane indicated that Trovio will eventually sell its stake in the merged business, though no timeline was provided.#JellyC #TrovioAssetManagement #merger #cryptocurrency #hedgefund #institutionalinvestors #pensionfunds #digitalassets #Australia #superannuationfunds #regulations #assetsundermanagement
🚀 NGV Co-Founder And MakerDAO Founder Engage In Significant ENA Transactions
#NGV #MakerDAO #ENA #cryptocurrency #staking #Pendle #USDC
According to BlockBeats, on October 23, The Data Nerd reported that an address suspected to belong to NGV co-founder Christian received 2 million ENA tokens, equivalent to approximately $768,000. All of these tokens were subsequently staked on Pendle.
Additionally, 12 hours earlier, MakerDAO founder Rune Christensen received 2.04 million ENA tokens, valued at around $777,000. Christensen then converted these tokens into 774,000 USDC.#NGV #MakerDAO #ENA #cryptocurrency #staking #Pendle #USDC
🚀 Sofiane Larbi Joins Paradigm As Entrepreneur In Residence
#SofianeLarbi #Paradigm #EntrepreneurInResidence #ConsumerApplications #Cryptocurrencies #PredictionMarket #TMRNEWS #ConsumerBuilder #Innovation #Gaming
According to Odaily, Sofiane Larbi has joined Paradigm as an Entrepreneur in Residence, focusing on developing next-generation consumer applications that support cryptocurrencies. Larbi is a seasoned consumer builder, having recently launched the innovative prediction market TMR.NEWS. His previous experience includes developing applications in the dating, social, and gaming sectors.#SofianeLarbi #Paradigm #EntrepreneurInResidence #ConsumerApplications #Cryptocurrencies #PredictionMarket #TMRNEWS #ConsumerBuilder #Innovation #Gaming
🚀 Celestia Labs Reveals Mammoth Mini Testnet Results
#CelestiaLabs #MammothMini #Testnet #DataThroughput #Blockchain #FBSS #Vacuum #QUIC #P2P #CoreDeveloperCommunity #Roadmap #1GBBlocks
According to Foresight News, Celestia Labs has announced the results of its Mammoth Mini testnet proof of concept, achieving an average permissionless data throughput of 27 MB/s. Several improvements, such as FBSS, have moved from the research phase to the design phase. Other enhancements, including Vacuum! and the redesigned QUIC-based p2p stack, are currently in the prototype and MVP stages and are undergoing iterative improvements. The core developer community aims to propose these enhancements for deployment by 2025.
In September, the Celestia core developer community released a roadmap to significantly scale data throughput to achieve the next major milestone: 1GB blocks.#CelestiaLabs #MammothMini #Testnet #DataThroughput #Blockchain #FBSS #Vacuum #QUIC #P2P #CoreDeveloperCommunity #Roadmap #1GBBlocks
🚀 BounceBit DeFi Platform Adds Bitcoin And Stock Indices With High Leverage
#BounceBit #DeFi #Bitcoin #StockIndices #Leverage #BBtokens #Trading #BTC
According to BlockBeats, as of October 23, the BounceBit DeFi platform has introduced new trading options, including Bitcoin, A-shares, the Shenzhen Component Index, and the Hang Seng Index. Users can now engage in long and short trades using BB tokens, with leverage reaching up to 200 times.#BounceBit #DeFi #Bitcoin #StockIndices #Leverage #BBtokens #Trading #BTC
🚀 0G Labs Warns Users About AI Node Sales Scams
#0GLabs #AIScams #NodeSales #ScamAlert #FraudulentAccounts #OfficialChannels
According to Odaily, 0G Labs has issued a warning to users regarding scams related to AI alignment node sales. The organization reported that fraudulent accounts are impersonating the 0G Foundation and its affiliated accounts. Users are advised to obtain information only from official 0G channels to avoid falling victim to these scams.#0GLabs #AIScams #NodeSales #ScamAlert #FraudulentAccounts #OfficialChannels
🚀 MakerDAO Community To Debate Dropping Sky Brand
#MakerDAO #SkyBrand #USDS #stablecoin #DAI #RuneChristensen #MKR #governance #DeFi #cryptocurrency
According to CoinDesk, MakerDAO's community is set to debate the potential abandonment of the Sky brand following a lukewarm reception to the re-brand and the successful launch of the USDS stablecoin. A formal governance poll is scheduled for November 4 to decide the future course of action.
The USDS stablecoin, introduced in August, aims to provide native token rewards and operate alongside the existing DAI synthetic stablecoin, which remains unchanged. On-chain data indicates that USDS has a supply of $1.2 billion and offers a savings rate of 6.5%. The community generally agrees that the launch was successful.
Sky co-founder Rune Christensen highlighted the community's strong affinity for the Maker brand, emphasizing its values of stability, security, and DeFi scale. He noted that there is significant commitment to holding the MKR token rather than upgrading to SKY. Christensen mentioned that three proposals are under consideration to address community concerns: continuing with Sky as the core brand, recentering the Maker brand with its original identity and reinstating MKR as the sole governance token, or refreshing the Maker brand to align with the current ecosystem while maintaining its established trust and stability.
Several contributors have expressed that the introduction of the SKY token, which replaced MKR as the core governance token under the Sky ecosystem, has not achieved the expected growth. In the past two weeks, SKY has declined by 23%, while the CoinDesk 20 index, which measures the performance of the largest digital assets, has risen by 10%. MKR, the governance token, has decreased by 24% over the year, according to CoinDesk data.
The controversial #MakerDAO #SkyBrand #USDS #stablecoin #DAI #RuneChristensen #MKR #governance #DeFi #cryptocurrency
🚀 Bitcoin's Golden Cross Signals Potential Bull Market
#Bitcoin #GoldenCross #BullMarket #Crypto #Trading #MarketAnalysis #Investing #BTC
According to BlockBeats, on October 23, CoinDesk market analyst Omkar Godbole noted that Bitcoin's 50-day simple moving average (SMA) has begun to rise and is expected to surpass the 200-day SMA in the coming days, confirming the so-called 'golden cross.'
This pattern indicates that short-term price momentum is surpassing long-term momentum, which could potentially evolve into a bull market. Indicators based on moving averages are often criticized as lagging signals, which might mislead traders into the wrong side of the market. While this criticism is generally valid, the golden cross has historically signaled major bull markets.
Traders who held Bitcoin for a year after the first and second golden crosses, as well as the golden cross in May 2020, saw triple-digit percentage returns. Following the golden cross on October 30, 2023, Bitcoin's value doubled, reaching a new all-time high of over $73,000.#Bitcoin #GoldenCross #BullMarket #Crypto #Trading #MarketAnalysis #Investing #BTC
🚀 Aptos Governance Approves AIP-91 For Enhanced Move VM Enum Type
#Aptos #AIP91 #MoveVM #EnumType #SmartContracts #BlockchainDevelopment #CodeReadability #DataStructures #APT
According to Foresight News, Aptos has announced the approval of AIP-91, which introduces the Enum type in the Move Virtual Machine (VM). This new feature will enable developers to define structured data with multiple variants, enhancing code readability and maintainability. The Enum type also supports efficient data structures and allows for version control, enabling data to evolve over time without breaking compatibility. This advancement is expected to facilitate long-term smart contract management without requiring changes to the underlying storage or serialization.#Aptos #AIP91 #MoveVM #EnumType #SmartContracts #BlockchainDevelopment #CodeReadability #DataStructures #APT
🚀 Ethereum(ETH) Drops Below 2,600 USDT with a 1.92% Decrease in 24 Hours
#Ethereum #ETH #cryptocurrency #Binance #marketdata #USDT #trading #decrease
On Oct 23, 2024, 08:04 AM(UTC). According to Binance Market Data, Ethereum has dropped below 2,600 USDT and is now trading at 2,589.800049 USDT, with a narrowed 1.92% decrease in 24 hours.#Ethereum #ETH #cryptocurrency #Binance #marketdata #USDT #trading #decrease
🚀 Top Trader Nachi Claims Significant Holdings in GOAT Supply
#TopTrader #Nachi #GOATSupply #Investments #CryptoTrading
According to Odaily, top trader Nachi has revealed that he holds 4% of the total supply of GOAT. In a recent statement, Nachi expressed confidence in this investment, stating, 'If the AI robot Truth Terminal wants to hear the truth directly, then I will say it. I have acquired 4% of the total supply of GOAT. This will be the best trade of this cycle.'#TopTrader #Nachi #GOATSupply #Investments #CryptoTrading
🚀 Lama Project Establishes Freedom Foundations in Dubai and US
#LamaProject #FreedomFoundation #Dubai #US #MemeCommunity #FinancialAssistance #LegalAssistance #Charity #Rebellion #Llama
According to Odaily, the BSC chain meme project Lama has officially submitted the establishment of the Dubai LAMA Freedom Foundation at the Dubai International Financial Centre (DIFC). Additionally, the project has also filed for the registration of the US LAMA Freedom Foundation online. The primary goal of these foundations is to support individuals and groups who have been long oppressed, providing them with financial and legal assistance to overcome unfair treatment.
In a statement on its official Twitter account, Lama emphasized the need for freedom, rebellion, and charity within the meme world. The project aims to represent these values through the image of a llama, symbolizing freedom and charity in the meme community.#LamaProject #FreedomFoundation #Dubai #US #MemeCommunity #FinancialAssistance #LegalAssistance #Charity #Rebellion #Llama
🚀 EthContingency Project Transfers 200 ETH to Tornado Cash
#EthContingency #TornadoCash #200ETH #CertiK #ICO #cryptocurrency #Ethereum #ETH
According to Foresight News, CertiK monitoring has revealed that an externally owned address (EOA) associated with the EthContingency project deposited 200 ETH (approximately $520,000) into Tornado Cash this morning. EthContingency, which raised around 2,100 ETH (currently valued at approximately $5.46 million) through an initial coin offering (ICO) in 2017, subsequently disappeared. A significant amount of ETH remains in three wallets linked to the EthContingency project.#EthContingency #TornadoCash #200ETH #CertiK #ICO #cryptocurrency #Ethereum #ETH
🚀 New Address Accumulates 177,000 LINK Tokens Worth $2.06 Million
#LINK #cryptocurrency #tokens #BlockBeats #value #investment
According to BlockBeats, a new address has accumulated a total of 177,000 LINK tokens over the past two months. The total value of these tokens is approximately $2.06 million, with an average purchase price of $11.5 per token.#LINK #cryptocurrency #tokens #BlockBeats #value #investment
🚀 Hong Kong Government Focuses On Digital Currency And Fintech Development
#HongKong #DigitalCurrency #Fintech #CBDC #MobilePayments #VirtualAssets #Innovation #GenerativeAI #WealthTech #Insurtech #Web3 #Startups #FintechGrowth
According to PANews, Hong Kong's Secretary for Financial Services and the Treasury, Christopher Hui, announced at the 'APAC Fintech Innovation Lab 2024' demo day that the government will prioritize areas such as central bank digital currencies (CBDCs), mobile payments, and virtual asset trading to advance cutting-edge financial services. The event, co-organized by Accenture and Cyberport, highlighted innovations in generative AI, wealth tech, insurtech, and Web3.0, aiming to accelerate the growth of regional fintech companies and assist startups in exploring new opportunities.#HongKong #DigitalCurrency #Fintech #CBDC #MobilePayments #VirtualAssets #Innovation #GenerativeAI #WealthTech #Insurtech #Web3 #Startups #FintechGrowth