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London, United Kingdom, 8th December, 2022, Chainwire

Metacade, the first-ever community-developed play-to-earn (P2E) blockchain arcade, has announced the launch of its highly anticipated $MCADE token presale. 

The sale of Metacade’s native utility token sold over an incredible $670k in under 2 weeks, with their Beta Sale stage now over 60% SOLD OUT.

$MCADE is available to buy on the official Metacade website.

Positioning itself as a Web3 community hub, this gaming-first platform is set to attract gamers, investors, and entrepreneurs alike by offering a multitude of ways to earn, play, and connect. It looks to be a central hangout for all of those interested in GameFi and metaverse. 

To ensure investor confidence, $MCADE has been audited by leading blockchain auditing firm CertiK, a security-focused platform that analyzes and monitors blockchain protocols and DeFi projects. Verification and approval from CertiK mean that the code behind Metacade is highly secure and has been scrutinized for any weak spots. 

Metacade harnesses the power of Web3 to take blockchain gaming to the next level. The project goes beyond play-to-earn and offers a place to discover what games are trending, view leaderboards, publish game reviews, and access the hottest and most advanced GameFi alpha.

Head of Product for Metacade, Russell Bennet said: “The crypto gaming space is crying out for a single destination where we can all go and learn, earn and play games with fellow enthusiasts without having to jump from platform to platform”.

Metacade isn’t out to just improve the existing P2E and metaverse worlds but also to foster the future of this space. The project’s hallmark feature is Metagrants, a source of funding awarded to game developers to bring new games to the Metacade. The Metacade community will vote on which projects get funded to turn the collective vision into a reality on the platform. The first game developed using the first Metagrant will be launched in 2024.

By the end of 2024, the project intends to transform into a DAO, handing over key roles and responsibilities to the Metacade community and achieving a fully community-staffed business. It looks to achieve this by deploying Play2Earn, Create2Earn, and Work2Earn functionalities with each of these initiatives giving a little more control of the project over to the community in the coming years. 

Reflecting on the core ethos of Metacade, Russell said: “We want to create a community that has zero barriers to entry whether you want to work in the space, launch a business or just hang, out, play, and have fun.”

$MCADE has a fixed supply of 2 Billion $MCADE tokens. Seventy percent of these (1.4 billion $MCADE tokens) are being made available during the token’s presale event. The remaining thirty percent will be used on exchange listings, during development, providing liquidity, and funding the competition pool. 

$MCADE is the utility and governance token powering the project. It plays a crucial role in the platform’s functionality as holders can use it to vote on the project’s future direction and new game proposals. It will be the main tool for interacting with the Metacade ecosystem: holders can use it to enter tournaments and exclusive prize draws, purchase merchandise, and many other things as the platform develops. 

Token holders will have plenty of opportunities to earn rewards through the project. $MCADE holders can earn from activities such as contributing content, reviewing and testing games, and generally engaging within the ecosystem. $MCADE holders may also stake their tokens in liquidity pools to earn rewards and APYs based on the amount staked. Staked rewards are paid in a stablecoin amount rather than in $MCADE to protect the value of the funds from inflation and price swings. 

To further promote a deflationary attribute to the token, Metacade plans on introducing a burn mechanism or a buyback scheme. Token burning will help the ecosystem permanently erase a given percentage of supply, thereby lowering the overall supply and boosting the value of $MCADE in the long run.

Right after the $MCADE presale is complete, Metacade will roll out the website and build a founding team. In Q1 2023, the goal is to list the $MCADE token on Uniswap and the top five centralized exchanges, along with popular crypto aggregators. With an ambitious road map, Metacade is on track to revolutionize how a traditional community hub is owned and operated.

The Metacade Beta sale has now sold over $670,000 worth of tokens in under two weeks and at the time of publishing has under 40% remaining. 

To buy $MCADE, visit Metacade.co and join the presale now. 

About GameFi
GameFi, one of the most talked about and promising sectors of Web3, creates a virtual gaming ecosystem that relies on the use of cryptocurrency, non-fungible tokens (NFTs), and blockchain technology. At the core of the GameFi ecosystem is the play-to-earn (P2E) gaming model. Unlike the traditional pay-to-play model, P2E allows gamers to earn financial rewards by participating in challenges and tasks.

About Metacade
Metacade is the premier destination for gaming in the metaverse. As Web3’s first community arcade that allows gamers to hang out, share gaming knowledge and play exclusive P2E games. The platform offers users multiple ways to generate income, build careers in Web3, and connect with the wider gaming community. 

Metacade will be the one-stop destination for users to play, earn, and network with other passionate gamers worldwide. Once the project reaches the end of its roadmap, Metacade will be handed over to the community as a full-fledged DAO. After all, Metacade wants you to have a hand in shaping the GameFi world of tomorrow.

Links
Contact

Head of Product
Russell Bennett
Metacade
pr@metacade.co



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The software giant Microsoft team noted that hackers are targeting the crypto community via a new strategy to trick innocent & intelligent guys easily.

Crypto adoption is surging continuously across the world because of the high potential use case of blockchain technology. Notably, the adoption of crypto among developing countries is slow because of the less techy knowledge of people. Bad actors usually take advantage of the lack of knowledge to easily trick innocent crypto investors to make an easy hack & theft attack. 

On 6 December, the Microsoft security team detected a new type of hack attack strategy of the hackers which are targeting even intelligent crypto traders. 

The Microsoft team noted that hackers are sending a malicious .xls extension file with the title “exchange fee comparison”. Usually, a compromised person sends such files to his other close friend and so on. 

Binance CEO Changpeng Zhao also talked about such attacks and noted that it is a very easy method for hackers to trick crypto investors. 

Microsoft noted that such actors are taking advantage of the Telegram crypto channels to reach the target. Usually, they start conversations to gain trust and after that, they send the malicious file to the victim which contains a fee structure with a tabled list of OKX Binance & Huobi VIP fee comparision.xls. 

Binance, a first-ranked crypto company, always remains in leadership to fight against the new challenges in the crypto sector.  In the past, Binance helped many Government agencies to catch the bad actors & uncover illegal crypto fund transactions.  

Earlier this, Binance CEO informed his followers to remain aware of the database leak of more than 487 million WhatsApp users, which was available on sale on Dark web.

Read also: The bankruptcy court orders Celsius to return funds to users





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 Bankrupt crypto lending platform Celsius is under stress to return funds to the users.

Celsius was a popular crypto lending platform but under the high volatility situation in July of this year faced a significant negative impact & also the mismanagement of the backend funds played an important role to bring a liquidity crunch to its platform. On 13 July, Celsius filed for bankruptcy under chapter 11 in a US bankruptcy court. 

On 7 December, Martin Glenn, Chief Bankruptcy Judge, issued an order for Celsius to release $44 million worth of crypto funds to creditors of Celsius.

These $44 million funds, including also those funds that didn’t belong to Celsius’s interest-bearing accounts. Indeed just before the bankruptcy filing,  Celsius transferred approximately $200,000 worth of crypto funds to its custody accounts to increase the fund ownership of the company, which was not a fair activity. 

Last year, Celsius secured court approval to extend the timeline to submit its Chapter 11 reorganisation plan until Feb. 15. 

Earlier this few months ago, a few reports noted that Celsius key officials were trying to bring a solution to reorganise the service of this bankrupt platform under a new branding. But the Celsius team never talked about this thing publicly, which hints that Celsius is failing at every level and is going to disappear forever from this sector. 

This year many Crypto lending platforms faced downfall because of multiple reasons. Voyager Digital is an institutional-level digital assets lending platform that collapsed badly and now Binance & CrossTower like big companies are planning to acquire this platform. 

Besides these crypto lending platforms, BlockFi, Genesis Global Trading, FTX exchange with Alameda Research, and Three Arrow Capital filed for bankruptcy. 

The majority of these companies were operating businesses without following proper procedures to manage the user’s funds & few of them were holding funds on bad crypto companies. 

Read also: Cardano founder says India is crypto hater country



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Charles Hoskinson explained why the Cardano project never showed significant Inclination toward the Indian Crypto market. 

Cardano is a popular Proof-of-stake (PoS) blockchain network, Known for its ability to provide low-cost & highly efficient crypto transactions. The network of the Cardano Blockchain can be made efficient in terms of transaction fees infinitely. The project team is working on Hydra protocol to make the Cardano blockchain network highly scalable up to 1 million TPS. 

On 7 December, A Cardano fan said that the Cardano project team is doing well across the world but it can do the same in the Indian crypto market to increase awareness about the ability & use case of the Cardano Blockchain network. 

“The same approach could work in #Inditoo…Collaboration with institutes like IITs will help to raise awareness about #Cardano.”

Charles Hoskinson, the founder of Cardano blockchain, responded and said that India has been a strong anti-crypto country, and many times many Indian government agencies supported the ban on cryptocurrency use, so it is not better to show Inclination toward India. 

Further Cardano fans noted that such things are not true at ground level in India because Polygon networks like crypto projects are doing well in direct association with government agencies. 

“But on the ground, things are slowly changing. #Ethereum and #Polygon are getting traction. At least from a marketing perspective,” Cardano fan Suraj said.

Polygon & India 

Jayanti Kanani, Sandeep Nailwal, Anurag Arjun, and Mihailo Bjelicare are the co-founders of the Polygon network. The first three people are from India and they are working at their best to bring better use of blockchain technology to digitise traditional online services. 

In the past few years, the Polygon network team established partnerships with many government agencies to make online governance services better.

Read also: ConsenSys says we will never sell any user data we collect





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Polygon crypto team collaborated with a music industry dominant player & E-commerce and interactive platform builder LGND to launch a new version of the Web3 focussed Music platform. 

The adoption of crypto & blockchain technology is continuously increasing because of the practical use cases of blockchain technology with the use of crypto assets as a significant use case. In the present time, the majority of the new tech startups are showing an inclination toward blockchain technology & also considering the use of Web3 technology, to remain in transparent communication with the customers. 

On 6 December, the Polygon team announced that LGND Music established a partnership with the Polygon team & Warner Music to work on the next level of Web3 Music platform “LGND Music ”.

Team also confirmed that Polygon will provide better blockchain infrastructure support to the next-level music platform to allow the low cost faster transactions

in an open, permissionless & sustainable environment.

As of now, LGND Music supports NFT forms of music to the holders. Further development will help Warner Music artists to launch their own NFTs to connect with fans uniquely. 

So basically the completion of the development works on the LGND Music platform will allow the users to use the digital world of blockchain technology without any high-level knowledge requirements in the crypto sector. 

Further Polygon noted that Web3 Technology can transform the music industry to the next level & provide a better level of experience for artists as well as for music lovers. 

Matic is a native token of the Polygon network and the current price of Matic coin is $0.91 & this price is 5% high over the 7 days of trade. 

Read also: Tether partner launches Chinese fiat-pegged stablecoin





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Over the controversy on the new privacy policy change of the MetaMask wallet, ConsenSys responded to clear the doubts of people. 

MetaMask is a popular Ethereum wallet, which is known to provide transactions & storage of crypto assets under a fully decentralised environment. But last month, MetaMask developer company ConsenSys changed the privacy policy of the MetaMask wallet and confirmed that it will collect the user data such as names, IP addresses, dates of birth, usernames, contact information, and gender. The majority of the crypto influencers & proponents criticised such decisions & said that they will shift to another best alternative because the new policy will make MetaMask more likely a centralised crypto wallet. 

In the initial days of the MetaMask privacy policy change controversy, ConsenSys founder Joseph Lubin responded and confirmed that such details collected by the MetaMask wallet are only to make the services better, not to make money. 

On 6 December, the ConsenSys team published a dedicated blog post to confirm that the MetaMask wallet will collect the data only to make the services better & will never sell the collected data to any party. 

MetaMask developer company also confirmed that the company will bring a new update in its data use policy and will consider collecting the data for a maximum of 7 days only. 

“We are working on narrowing retention to 7 days and we will append these retention policies to our privacy policy in an upcoming update.”

ConsenSys noted that users can opt for an alternative RPC (remote procedure call) instead of Infura but it will not provide a better user experience in terms of security & privacy of data.

The company also admitted that alternative RPC may allow easy association of the Ethereum wallet with IP address but those alternative RPC providers have their different data privacy policy systems. 

Read also: Polygon to launch next level of Web3 LGND music platform with Warner Music





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The USDT issuer Tether’ partner launched CNH₮ stablecoin to overcome the challenges of a traditional form of the Chinese Yuan. 

Tether is the biggest stablecoin issuer company, which is a subsidiary of the popular crypto exchange Bitfinex. Due to the first mover advantage, the company is standing at the first rank in the crypto sector. Perhaps the company is standing at the first rank in the race of stablecoin companies but this company faced huge criticism over its lack of information about the reserved funds behind USDT.  

Recently Capital Union launched CNH₮ stablecoin which is fully backed by 1:1 Chinese Yuan currency. Capital Union is an international boutique financial institution which is situated in the Bahamas. The funds behind CNH₮ stablecoin will be managed by Tether.

This newly launched Chinese Yuan pegged stablecoin aimed to provide easy & fast China Yuan transactions to any place without any dependency on third-party centralised companies. 

As we know that China is a fully crypto hater country and cryptocurrency use is strictly prohibited in the Chinese jurisdiction but still, this stablecoin is fully compliance based without any issue of regulatory restrictions. This stablecoin will remain available on OKEx and Huobi digital assets exchange. 

With the launch of CNH₮, the Tron blockchain network welcomed the first official launch of the third-party stablecoin. While the Tron blockchain has its stablecoin USDD but CNH₮ is a third-party stablecoin that was directly launched on the Tron blockchain. 

Earlier this on 2 December, John Reed, the former SEC official took to Twitter to criticise Tether over its lack of disclosure about its reserved funds. 

Reed said that Tether is running a Ponzi scheme without telling other people about its scam. 

Read also: IOHK chief compares crypto with the dot-com bubble





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To push the adoption of a national digital currency & online payment systems, Nigeria imposed restrictions on ATM cash withdrawals.

Nigeria is among the low-developed countries but its Inclination toward blockchain technology is appreciable. On 25 October 2021, The central bank of Nigeria launched its official digital currency e-Naira, or say Digital form of sovereign fiat currency. The development & launch of the e-Naira was full of controversy because the majority of the Nigeria-based Fintech companies claimed that the government chose local Fintech companies for the development of National digital currency instead to focus on better companies. 

On 6 December, The Central Bank of Nigeria issued a new circular to inform that no one business or individual can withdraw money above the limit of $45 (₦20,000) per day and $225 (₦100,000) per week from ATMs.

This limitation also will apply to Individuals and businesses in the direct Bank services. In the direct-to-bank services, individuals & businesses will be limited to withdrawing $225 (₦100,000) and $1,125 (₦500,000) respectively at banks per week.

Haruna Mustafa, Director of Banking Supervision, said:

“Customers should be encouraged to use alternative channels (Internet banking, mobile banking apps, USSD, cards/POS, air, etc.) to conduct their banking transactions.”

This is showing that the Nigerian central is fully forcing the citizens to go with digital payment systems, including CBDC or e-Naira. 

It is worth noting that the adoption rate of the e-Naira so far is very low in the country. Only 0.5% of the population of this country is using e-Naira for payment purposes. 

Since 2012, Nigeria has been trying to move toward digital money adoption instead of using physical cash, so that people can use fast payment services at low cost & also to make the monetary system better. 

The corruption rate in Nigeria is also high, so it will also help the country to fight against illegal fund transactions.

Read also: CZ notes AI beaten most of the crypto exchange founders



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Jerry Fragiskatos shared his opinion on the current era of the crypto sector and indirectly claimed that huge numbers of crypto projects will collapse. 

Cardano is a popular Proof-of-stake (PoS) crypto network and is known for its ability to process crypto transactions at low cost & high speed. Charles Hoskinson is the founder of this crypto project. Input Output Hong Kong Global (IOHK) is a developer team behind the Cardano Blockchain.

On 4 December, Jerry Fragiskatos, IOHK’s chief commercial officer, appeared in a new interview with crypto analyst Scott Melker at the Messari Mainnet Conference in Manhattan.

Through the interview, Jerry said that four years ago he compared the crypto sector as an initial phase of the internet world (timeframe of the 90s) where huge numbers of online tech companies were entering the internet world & also Investors were showing significant Inclination toward such projects to gain better returns. 

He also noted that when the majority of the companies in the 90s collapsed then few companies emerged as successful companies because of their best business model, for example, Amazon. 

Jerry noted that the Crypto sector is now in the dot-com bubble phase 

“The long game is the game. When I first started like four years ago, I said we’re in the ’90s of the Internet. We’re probably in the dot com right now, ’99 to 2000…”

According to IOHK chief Cardano (ADA) will stand up as a perfect project in the Crypto’ dot-com bubble and also will stand perfectly against the critics. 

Further, Jerry indirectly talked about the decentralised nature & non-partial distribution of the ADA token. He said that there are not many insiders behind ADA coin because its distribution is among retail traders instead of VCs, which is a very usual thing in the case of other crypto projects. 

Read also: Nigeria bans ATM withdrawal to push CBDC adoption



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Binance’s CEO noted that Artificial intelligence (AI) is now more intelligent to respond to the critical matters of the crypto sector. 

Recently OpenAI launched its artificial intelligence-based Chatbot ChatGPT. This ChatBot is full of knowledge and can perform many tasks like creating an original song writing, a thesis & coding smart contract protocols. The majority of crypto lovers tried & tested this bot in different ways and noted that ChatBot has several abilities to perform better work than normal people. 

On 7 December, Changpeng Zhao, CEO & founder of the first-ranked crypto company Binance, shared an answer to a question that was asked by him from ChatGPT. 

Zhao noted that the answer from this ChatBot is showing that AI is now better than many crypto exchange founders. Indeed he indirectly criticised bankrupt FTX exchange founder Sam Bankman-Fried (SBF).

In the same tweet thread, he also added himself to the list of those crypto exchange founders who are not better than ChatGPT’s abilities.

“Myself included. While we are doing most of it, I don’t think I can articulate the points succinctly. Might have to print it out on the wall,” Zhao said.

Just a few days ago, a person asked from this ChatBot “why the FTX exchange collapsed?”. ChatBot answered that ups & downfalls in the price of crypto assets don’t mean the exchange failed because it is natural in the crypto sector. At this point, ChatBot failed because of the lack of information regarding the ongoing incidents in the crypto sector. 

Few people noted that if ChatBot can easily write a thesis on any particular matter then surely it can create Blog posts and may eliminate the role of the majority of news writers but in reality, there are some limitations with this ChatBot in the present time. In the future, the next version of this ChatBot will surely be able to perform multiple tasks without any limitations. 

Read also: Crypto community eager with OpenAI ChatBot to fight against challenges



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