✋Hey Nimbus community,
😔 The year 2022 started for the crypto industry on a harsh note – practically all of the major digital currencies dipped. Partially this could be attributed to the unstable political situation in Kazakhstan. According to BitMEX Research, if bitcoin miners decided to leave the country, the bitcoin hash rate would suffer an important drop. Does it mean that bearish sentiment just begins to take hold? On the on hand, it’s very unlikely that even a steep fall in the hash rate will trigger a major sell-off. On the other hand, the tightening of the monetary policy by the Fed may do the job. Overall, it looks like January will be quite volatile for the industry.
😳 Still, it doesn’t mean you should panic. For instance, Coinbase executive believes that the industry will constantly seek advancements in the speed and functionality. Surojit Chatterjee also predicted increased industry-wide regulation and institutional investment in DeFi. Finally, he mentioned the emergence of DeFi insurance and increased brand engagement in Metaverse and NFTs. Thus, don’t let the market fool you!
🧠 Talking about forecasts, we find it important to mention that Goldman Sachs analysts don’t discount that Bitcoin will continue to take market share from gold as part of broader adoption of digital assets, making the often touted price prediction of $100,000. Goldman estimates that Bitcoin’s float-adjusted market capitalization is just under $700 billion. The value of gold that’s available for investment is estimated at $2.6 trillion.
✋ Finally, yet importantly, we recommend you to check out the “How to Bitcoin” book by CoinGecko. Long story short, it offers easy-to-understand analogies and step-by-step guides to help you understand the Bitcoin movement and how to be part of it. Also, they have a book called “How to NFT” , which covers various categories of NFTs and how they generate value.
😔 The year 2022 started for the crypto industry on a harsh note – practically all of the major digital currencies dipped. Partially this could be attributed to the unstable political situation in Kazakhstan. According to BitMEX Research, if bitcoin miners decided to leave the country, the bitcoin hash rate would suffer an important drop. Does it mean that bearish sentiment just begins to take hold? On the on hand, it’s very unlikely that even a steep fall in the hash rate will trigger a major sell-off. On the other hand, the tightening of the monetary policy by the Fed may do the job. Overall, it looks like January will be quite volatile for the industry.
😳 Still, it doesn’t mean you should panic. For instance, Coinbase executive believes that the industry will constantly seek advancements in the speed and functionality. Surojit Chatterjee also predicted increased industry-wide regulation and institutional investment in DeFi. Finally, he mentioned the emergence of DeFi insurance and increased brand engagement in Metaverse and NFTs. Thus, don’t let the market fool you!
🧠 Talking about forecasts, we find it important to mention that Goldman Sachs analysts don’t discount that Bitcoin will continue to take market share from gold as part of broader adoption of digital assets, making the often touted price prediction of $100,000. Goldman estimates that Bitcoin’s float-adjusted market capitalization is just under $700 billion. The value of gold that’s available for investment is estimated at $2.6 trillion.
✋ Finally, yet importantly, we recommend you to check out the “How to Bitcoin” book by CoinGecko. Long story short, it offers easy-to-understand analogies and step-by-step guides to help you understand the Bitcoin movement and how to be part of it. Also, they have a book called “How to NFT” , which covers various categories of NFTs and how they generate value.
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👋Hey Nimbus Community,
We're here to give you more context on the confusion regarding reward accruing for your Smart LP NFTs.
To explain better, let’s recall the reward distribution of this n-NFT:
✅ The first portion i.e. 70% of your supplied assets, gets provided as liquidity to the Nimbus Swap: to BNB/NBU and BNB/GNBU pairs. Then it goes to LP staking and starts generating rewards.
✅ The second portion, i.e. 30% of the supplied assets, goes to the Lend dApp, acting as overcollateralized loans. It then generates rewards when somebody borrows from the BNB pool.
So while the rewards from the first portion of assets are received automatically, the Lend dApp rewards are a bit more tricky. If nobody has borrowed from the BNB pool while you were holding the n-NFT, you cannot receive rewards. Only the LP rewards will accrue.
Additionally, due to some technical discrepancy, the LP rewards were not displayed in the interface either. Now this issue is fixed, though. There is some ground left to cover for a few more wallets, and we are solving that as we speak!
So while we take care of the technicalities, let’s boost the borrowing side together 😎
You can borrow BNBs and stake them — or do many other things to multiply them before paying off the loan.
Check the APR here and borrow some BNB now: LINK
We're here to give you more context on the confusion regarding reward accruing for your Smart LP NFTs.
To explain better, let’s recall the reward distribution of this n-NFT:
✅ The first portion i.e. 70% of your supplied assets, gets provided as liquidity to the Nimbus Swap: to BNB/NBU and BNB/GNBU pairs. Then it goes to LP staking and starts generating rewards.
✅ The second portion, i.e. 30% of the supplied assets, goes to the Lend dApp, acting as overcollateralized loans. It then generates rewards when somebody borrows from the BNB pool.
So while the rewards from the first portion of assets are received automatically, the Lend dApp rewards are a bit more tricky. If nobody has borrowed from the BNB pool while you were holding the n-NFT, you cannot receive rewards. Only the LP rewards will accrue.
Additionally, due to some technical discrepancy, the LP rewards were not displayed in the interface either. Now this issue is fixed, though. There is some ground left to cover for a few more wallets, and we are solving that as we speak!
So while we take care of the technicalities, let’s boost the borrowing side together 😎
You can borrow BNBs and stake them — or do many other things to multiply them before paying off the loan.
Check the APR here and borrow some BNB now: LINK
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You must have heard your favorite crypto bloggers mention the phrase 'DYOR'.
And there are good reasons why they mention it so often!
Follow the image above 👆to discover its meaning.
Why is it so important to DYOR?
✔️ DYOR is important to ensure that you get an unbiased perspective on an asset, protocol, or strategy you are interested in
✔️ It also protects you from Sybil attacks that are very common on social media Reddit, Twitter, etc.
✔️ With more research and understanding of assets or protocols, you can be more confident about your interests and future goals and keep your assets safe from fraudulent projects
✔️ DYOR as a phrase has permeated into popular culture and is widely used to encourage amateur users in any arena to navigate a minefield of misinformation
P.S. - We're curious which crypto blogger do you watch on YouTube? Or, if you are a reader, which crypto blog do you follow the most?
Do let us know in the community chat channels on Telegram or Discord!
#NimbusAcademy #NimbusGlossary
And there are good reasons why they mention it so often!
Follow the image above 👆to discover its meaning.
Why is it so important to DYOR?
✔️ DYOR is important to ensure that you get an unbiased perspective on an asset, protocol, or strategy you are interested in
✔️ It also protects you from Sybil attacks that are very common on social media Reddit, Twitter, etc.
✔️ With more research and understanding of assets or protocols, you can be more confident about your interests and future goals and keep your assets safe from fraudulent projects
✔️ DYOR as a phrase has permeated into popular culture and is widely used to encourage amateur users in any arena to navigate a minefield of misinformation
P.S. - We're curious which crypto blogger do you watch on YouTube? Or, if you are a reader, which crypto blog do you follow the most?
Do let us know in the community chat channels on Telegram or Discord!
#NimbusAcademy #NimbusGlossary
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✋Hey Nimbus community,
👽 This week the International Monetary Fund has finally acknowledged that crypto and equity markets have become increasingly interconnected across economies over time. To be more precise, IMF economist Tara Iyer said that “crypto-assets such as Bitcoin have matured from an obscure asset class with few users to an integral part of the digital asset revolution.” Who could have imagined, huh?
😌 Howbeit, let’s try not to be sarcastic. Instead, we find it important to mention that almost a quarter of small businesses in nine countries around the world plan to accept digital currencies as a form of payment in 2022. Moreover, 13% of consumers in those countries expect retail stores to begin offering crypto payments this year and beyond, according to a survey by Visa Inc. Curiously, small businesses outside North America are more open to accepting digital currencies, including Bitcoin, as forms of payment.
🥇 Another great news is that TransUnion, one of the three major U.S. consumer credit reporting firms, will let consumers give blockchain companies access to their credit data through the security firm Spring Labs’ ky0x Digital Passport. On top of that, Visa Inc. joined its rival Mastercard Inc. in offering central banks a way to test retail applications for digital currencies they might issue.
🤑 Finally, yet importantly, Twitter began to test out a feature that allows users to link to encrypted wallets. The company previously stated that NFTs would be replaced with avatars and a blue mark would be added. Still, the first step is to connect to a cryptocurrency wallet.
👽 This week the International Monetary Fund has finally acknowledged that crypto and equity markets have become increasingly interconnected across economies over time. To be more precise, IMF economist Tara Iyer said that “crypto-assets such as Bitcoin have matured from an obscure asset class with few users to an integral part of the digital asset revolution.” Who could have imagined, huh?
😌 Howbeit, let’s try not to be sarcastic. Instead, we find it important to mention that almost a quarter of small businesses in nine countries around the world plan to accept digital currencies as a form of payment in 2022. Moreover, 13% of consumers in those countries expect retail stores to begin offering crypto payments this year and beyond, according to a survey by Visa Inc. Curiously, small businesses outside North America are more open to accepting digital currencies, including Bitcoin, as forms of payment.
🥇 Another great news is that TransUnion, one of the three major U.S. consumer credit reporting firms, will let consumers give blockchain companies access to their credit data through the security firm Spring Labs’ ky0x Digital Passport. On top of that, Visa Inc. joined its rival Mastercard Inc. in offering central banks a way to test retail applications for digital currencies they might issue.
🤑 Finally, yet importantly, Twitter began to test out a feature that allows users to link to encrypted wallets. The company previously stated that NFTs would be replaced with avatars and a blue mark would be added. Still, the first step is to connect to a cryptocurrency wallet.
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👋Hey Nimbus Community,
The Nimbus Support has shifted completely from Zendesk to the new link called ‘Help Center.’
You can find the ‘Help Center’ at the bottom right corner of the Website, or you can simply bookmark the Support Link👉 Here!
The Nimbus Support has shifted completely from Zendesk to the new link called ‘Help Center.’
You can find the ‘Help Center’ at the bottom right corner of the Website, or you can simply bookmark the Support Link👉 Here!
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❗️Why leave BNB, BUSD, NBU, or GNBU idle in your wallet…
When you can derive rewards as high as 28.9% APR on the same assets via the Nimbus Lending dApp! 🔥
Plus, doing so just got 10X easier with the Nimbus Lending dApp video tutorial 😎
Check it out👉 Here!
When you can derive rewards as high as 28.9% APR on the same assets via the Nimbus Lending dApp! 🔥
Plus, doing so just got 10X easier with the Nimbus Lending dApp video tutorial 😎
Check it out👉 Here!
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If you have ever glanced at the Nimbus Roadmap, you’d have noticed “Mobile App” listed there!
We’re extremely pleased to inform you that we are keeping pace with the Nimbus Roadmap since the Mobile App (Android version) is near conclusion and continues to receive key updates!
What can you already do on the Nimbus Mobile App?
✅ Easy onboarding: connecting your MetaMask wallets and getting started on the App is extremely easy, thanks to the instructions and navigation guides.
✅ You will be able to access the ‘Menu’ listing all the available and upcoming functionalities on the Mobile App.
✅ Nimbus Swap is already available on the Mobile App so you can easily swap tokens there. The app currently supports BUSD, BNB, NBU, and GNBU tokens.
So what’s new?✨
We have just implemented the Staking functionality on the Mobile App. Since it is the same smart contract as the Staking functionality on the Desktop App, users can easily stake and track their staking via the app (if the same wallet is connected).
Now with optimized yields, smart strategies, you can also enjoy ultimate portability!😎
Download here
We’re extremely pleased to inform you that we are keeping pace with the Nimbus Roadmap since the Mobile App (Android version) is near conclusion and continues to receive key updates!
What can you already do on the Nimbus Mobile App?
✅ Easy onboarding: connecting your MetaMask wallets and getting started on the App is extremely easy, thanks to the instructions and navigation guides.
✅ You will be able to access the ‘Menu’ listing all the available and upcoming functionalities on the Mobile App.
✅ Nimbus Swap is already available on the Mobile App so you can easily swap tokens there. The app currently supports BUSD, BNB, NBU, and GNBU tokens.
So what’s new?✨
We have just implemented the Staking functionality on the Mobile App. Since it is the same smart contract as the Staking functionality on the Desktop App, users can easily stake and track their staking via the app (if the same wallet is connected).
Now with optimized yields, smart strategies, you can also enjoy ultimate portability!😎
Download here
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Today, Nimbus CEO Alex Lemberg will be appearing as a guest on Bloomberg Radio!
You can tune into the conversation at ⏰ 4:45 PM GMT (16:45), here 👉 https://www.bloombergradio.com
You can tune into the conversation at ⏰ 4:45 PM GMT (16:45), here 👉 https://www.bloombergradio.com
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👋Hey Nimbus Community,
Today on Nimbus Glossary, we're talking about the term ✨KYC✨
More Facts About KYC?
✅ KYC processes usually begin with collecting basic data and information about customers in a process known as electronic identity verification.
Details such as a user's name, birthday, account number, and social security details can all be valuable pieces of information when detecting any fraudulent activity or financial crime.
✅ After receiving this information, organizations usually check a database of individuals convicted for corruption to see if any customers may overlap. The information is often also compared against a list of sanctions or a list of politically exposed persons.
Today on Nimbus Glossary, we're talking about the term ✨KYC✨
More Facts About KYC?
✅ KYC processes usually begin with collecting basic data and information about customers in a process known as electronic identity verification.
Details such as a user's name, birthday, account number, and social security details can all be valuable pieces of information when detecting any fraudulent activity or financial crime.
✅ After receiving this information, organizations usually check a database of individuals convicted for corruption to see if any customers may overlap. The information is often also compared against a list of sanctions or a list of politically exposed persons.
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How do you think, is KYC a truly useful tool or just another way to control the society?
Anonymous Poll
27%
Answer 1: It’s a much-needed tool
60%
Answer 2: It’s useless
14%
Answer 3: Neither one - I’ll comment in the chat
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Nimbus CEO Alex Lemberg was invited on Bloomberg's The Tape Podcast to take about:
✅ DeFi and the cities looking to become crypto hubs
✅ Nimbus Platform as a deep-rooted DeFi ecosystem
✅ Outlook for Crypto in 2022 and beyond
Couldn't listen to the podcast when it went live❓
We got you!
Tune in to the conversation between Alex and Bloomberg hosts. Fast forward to 15 minute 👉 Here!
✅ DeFi and the cities looking to become crypto hubs
✅ Nimbus Platform as a deep-rooted DeFi ecosystem
✅ Outlook for Crypto in 2022 and beyond
Couldn't listen to the podcast when it went live❓
We got you!
Tune in to the conversation between Alex and Bloomberg hosts. Fast forward to 15 minute 👉 Here!
Bloomberg
Markets, Fixed Income, And Crypto Investments - Bloomberg
Matt Miller and Paul Sweeney focus on market coverage as Wall Street begins its day, with analysis from Bloomberg Opinion writers, Bloomberg Intelligence analysts, and influential newsmakers.
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✋Hey Nimbus community,
😳 This week 21Shares AG, aka the world’s largest issuer of cryptocurrency ETPs, announced the listing of the first crypto ETP for the Cosmos blockchain in CHF, EUR, and USD on SIX Swiss Exchange. The product is geared toward investors who look to “capitalize on the growth trajectory of interoperable, decentralized blockchains that are empowering the early stages of the metaverse.” Sounds promising, isn’t it?
👽 Another great news was that Bloomberg and Grayscale Investments announced the launch of the Bloomberg Grayscale Future of Finance Index, tracking the rapidly evolving digital economy – specifically the confluence of technology, finance, and digital assets. The index includes companies that сould significantly contribute to the growth of the digital economy and its overall revenue within the next two years.
😱 Elsewhere Google has partnered with Coinbase Global and BitPay, to store crypto assets in digital cards, while still having users pay in traditional currencies. On top of that, the IT giant has hired former PayPal Holdings Inc. executive Arnold Goldberg to run its payments division and set a new course for the business after it scrapped a push into banking. This move should be considered part of a broader strategy to team up with a wider range of financial services, including cryptocurrencies.
🏄♀️ In the NFT universe, Coinbase and Mastercard partnered to make it as easy as possible to buy an NFT and make sure it’s the best consumer experience. The company also disclosed its plans to find ways to bring this opportunity to the broader ecosystem through Mastercard’s scale and global network.
😳 This week 21Shares AG, aka the world’s largest issuer of cryptocurrency ETPs, announced the listing of the first crypto ETP for the Cosmos blockchain in CHF, EUR, and USD on SIX Swiss Exchange. The product is geared toward investors who look to “capitalize on the growth trajectory of interoperable, decentralized blockchains that are empowering the early stages of the metaverse.” Sounds promising, isn’t it?
👽 Another great news was that Bloomberg and Grayscale Investments announced the launch of the Bloomberg Grayscale Future of Finance Index, tracking the rapidly evolving digital economy – specifically the confluence of technology, finance, and digital assets. The index includes companies that сould significantly contribute to the growth of the digital economy and its overall revenue within the next two years.
😱 Elsewhere Google has partnered with Coinbase Global and BitPay, to store crypto assets in digital cards, while still having users pay in traditional currencies. On top of that, the IT giant has hired former PayPal Holdings Inc. executive Arnold Goldberg to run its payments division and set a new course for the business after it scrapped a push into banking. This move should be considered part of a broader strategy to team up with a wider range of financial services, including cryptocurrencies.
🏄♀️ In the NFT universe, Coinbase and Mastercard partnered to make it as easy as possible to buy an NFT and make sure it’s the best consumer experience. The company also disclosed its plans to find ways to bring this opportunity to the broader ecosystem through Mastercard’s scale and global network.
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👋Hey Nimbus Community,
A lot of you have been minting your own Smart LP n-NFT, since its launch.
But, have you ever thought about why issuing an n-NFT is called "Minting" or what exactly is minting?
The answer lies within today’s edition of the #NimbusGlossary
✅ By the way, minting a non-fungible token or NFT is slightly different than minting a cryptocurrency. For example, in order to mint your own Smart LP n-NFT, you simply need to supply 1BNB. Once that’s done, the strategy dynamically distributes your supplied BNB into three different streams to accrue 3 different types of rewards. Try it 👉 Here!
P.S - If you’re wondering what is Proof of Work or Proof of Stake. Don’t worry, we’ll cover the terms in the following glossaries!
A lot of you have been minting your own Smart LP n-NFT, since its launch.
But, have you ever thought about why issuing an n-NFT is called "Minting" or what exactly is minting?
The answer lies within today’s edition of the #NimbusGlossary
✅ By the way, minting a non-fungible token or NFT is slightly different than minting a cryptocurrency. For example, in order to mint your own Smart LP n-NFT, you simply need to supply 1BNB. Once that’s done, the strategy dynamically distributes your supplied BNB into three different streams to accrue 3 different types of rewards. Try it 👉 Here!
P.S - If you’re wondering what is Proof of Work or Proof of Stake. Don’t worry, we’ll cover the terms in the following glossaries!
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✋Happy Friday Nimbus community,
🧠 Russian President Vladimir Putin decided to back government’s proposal to tax and regulate mining of cryptocurrencies, thus rejecting the central bank’s proposal to ban it completely. On top of that, he supports the proposal to restrict mining to regions with a surplus of electricity, such as Irkutsk, Krasnoyarsk and Karelia.
😳 Somewhere else, Warner Music Group made a serious move into the metaverse. To be more precise, decentralized gaming virtual world The Sandbox has partnered with WMG to create what it describes as “the first music-themed world”. According to WMG, these immersive experiences “will empower Warner Music artists to engage with their fans, as well as to reach the global community of The Sandbox”.
🥇 Google’s cloud division in the meantime has formed a group to build business around blockchain applications. If things go the right way Google will be able to further diversify away from advertising and become more prominent in the growing market for computing and storage services delivered from remote third-party data centers.
🧐 Finally, YouTube CEO Susan Wojcicki suggested the company is looking to branch into NFTs in the future as another source of revenue for creators. Wojcicki referred to the innovations taking place in the web3 world as a “source of inspiration to continue innovating on YouTube.
🧠 Russian President Vladimir Putin decided to back government’s proposal to tax and regulate mining of cryptocurrencies, thus rejecting the central bank’s proposal to ban it completely. On top of that, he supports the proposal to restrict mining to regions with a surplus of electricity, such as Irkutsk, Krasnoyarsk and Karelia.
😳 Somewhere else, Warner Music Group made a serious move into the metaverse. To be more precise, decentralized gaming virtual world The Sandbox has partnered with WMG to create what it describes as “the first music-themed world”. According to WMG, these immersive experiences “will empower Warner Music artists to engage with their fans, as well as to reach the global community of The Sandbox”.
🥇 Google’s cloud division in the meantime has formed a group to build business around blockchain applications. If things go the right way Google will be able to further diversify away from advertising and become more prominent in the growing market for computing and storage services delivered from remote third-party data centers.
🧐 Finally, YouTube CEO Susan Wojcicki suggested the company is looking to branch into NFTs in the future as another source of revenue for creators. Wojcicki referred to the innovations taking place in the web3 world as a “source of inspiration to continue innovating on YouTube.
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👋Hey Nimbus Community,
As promised in the last #NimbusGlossary edition, we present you with the term - ✨Proof-of-Stake (PoS)✨
Here are some key facts on PoS:
✅ Unlike its counterpart Proof-of-Work, PoS is considered a more energy-efficient consensus mechanism. It requires relatively less computation power, a low barrier to entry costs, etc.
✅ PoS also makes the mechanism less vulnerable to cyberattacks by design since it will also negatively affect the miner's interest (the malicious miner also has tokens locked as collateral) who initiated the attack. Moreover, the person attacking the network will have to own 51% of the stakes. The network also incentivizes to keep the network secure and healthy.
✅ Becoming a validator means accepting significant responsibility and possessing a high level of technical expertise.
✅ For instance, the minimum amount a validator should stake is relatively huge (For ETH 2.0 minimum staking amount is 32 ETH).
As promised in the last #NimbusGlossary edition, we present you with the term - ✨Proof-of-Stake (PoS)✨
Here are some key facts on PoS:
✅ Unlike its counterpart Proof-of-Work, PoS is considered a more energy-efficient consensus mechanism. It requires relatively less computation power, a low barrier to entry costs, etc.
✅ PoS also makes the mechanism less vulnerable to cyberattacks by design since it will also negatively affect the miner's interest (the malicious miner also has tokens locked as collateral) who initiated the attack. Moreover, the person attacking the network will have to own 51% of the stakes. The network also incentivizes to keep the network secure and healthy.
✅ Becoming a validator means accepting significant responsibility and possessing a high level of technical expertise.
✅ For instance, the minimum amount a validator should stake is relatively huge (For ETH 2.0 minimum staking amount is 32 ETH).
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