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Facebook building a cryptocurrency for WhatsApp

Rumours have been going around about Facebook seeking to develop a cryptocurrency for WhatsApp transfers. Apparently, the focus is on a stablecoin that will let users transfer money in the remittance market in India. There is no certain information about when it will launch but according to Facebook, it is not going to be so […]



Rumours have been going around about Facebook seeking to develop a cryptocurrency for WhatsApp transfers. Apparently, the focus is on a stablecoin that will let users transfer money in the remittance market in India.

There is no certain information about when it will launch but according to Facebook, it is not going to be so soon. The company is still in the process of developing strategies and a plan for custody assets to protect the value of the stablecoin.

Facebook had a very scandalous year, and we often heard its name connected to negative things, but their ambition about crypto appears to remain and the company has long been expected to make a move in financial services. After they hired David Marcus, former president of PayPal, in 2014, everyone had expectations on this matter.

Like every other company, Facebook has been hiring people in its blockchain group, and they are too trying to get in the blockchain ecosystem and they want to explore the power of this new technology.

WhatsApp is probably the most popular encrypted messaging platform, and everyone has heard of it. In India alone, WhatsApp has more than 200 million users.

There has been over 120 ventures related to stablecoins in the last past year, but we heard many shut down. The most known and used stablecoin Tether has also had a lot of issues this year. Even though the creators say that each coin is backed by one U.S. dollar, doubts have been coming up after the company refused to be audited.

We believe that Facebook, which has billions of users and more than 40 billion dollars in annual revenue might have a better chance of making a stablecoin that holds what it promises. Facebook will be the first lage technology company to launch a stablecoin.

Image Credit: Deposit Photos



Here’s Why Analysts Think Bitcoin Will Rally Towards $17,000 by EOY



  • Bitcoin’s price has been caught within a consolidation phase around $13,000 ever since it was rejected at its recent highs of $13,200
  • This is around the price at which it has been trading throughout the past few days, with buyers and sellers being unable to take control of its near-term trend
  • Yesterday, bulls did attempt to set fresh yearly highs and kickoff a leg higher, but it resulted in a rejection
  • This shows that buyers don’t currently have enough support for another push higher
  • One analyst explained that a push towards $17,000 could be just months away, but it may first see some consolidation

Bitcoin and the aggregated crypto market are consolidating following Bitcoin’s recent rejection at its yearly highs.

The cryptocurrency has been unable to spark any sustained moves past $13,200, signaling that the selling pressure here is significant and may continue slowing its ascent.

Despite its short-term trend being somewhat unclear, there’s no questioning that Bitcoin’s macro trend is shaping up to be extremely bullish.

As such, one analyst is noting that a move to $17,000 could be just a couple of months away.

Bitcoin Consolidates Around $13,000 as Buyers and Sellers Reach an Impasse

At the time of writing, Bitcoin is trading down just over 1% at its current price of $13,000. This is around where it has been trading throughout the past few days.

Yesterday, bulls attempted to break this trend and propel it higher, but a move past $13,300 resulted in an influx of selling pressure that sent it reeling lower.

Its inability to see any sustained rally does indicate that the selling pressure it is facing above its current price level is quite significant.

Where it trends next should depend largely on whether or not it can push past the resistance laced throughout the lower-$13,000 region.

BTC Poised to See a Sharp Climb to $17,000, Claims Analyst

Despite this micro weakness, one analyst is noting that Bitcoin is positioned to see some major upside in the months ahead.

He is specifically pointing to $17,000 as a target that he expects to be reached by the end of the year.

“I think this is a likely scenario, not expecting a clear breaker above $14,000 yet. A retest of previous resistance zone to build momentum towards the next rally towards $17,000 beginning next year.”


Image Courtesy of Crypto Michael. Source: BTCUSD on TradingView.

The coming few days should provide insights into whether or not the resistance Bitcoin is currently facing will be enough to spark any selloff.

Featured image from Unsplash.
Charts from TradingView.


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InfinityDefi: A Flexible, Low-Risk Crypto Collateral Lending DeFi Platform



The cryptocurrency industry has come a long way since its inception, as the underlying technology undergoes constant evolution. The latest advancement in such development is the concept of Decentralized Finance, popularly known as DeFi. As the DeFi movement rages on, a lot of new, innovative projects have entered the market, offering a great deal of flexible financial products to the community.

One such innovative project is InfinityDefi, a state-of-the-art composite cryptocurrency asset management platform that offers much-needed financial services to the community, helping them put their crypto assets to good use. Created by a team of experts in crypto, finance, technology and legal fields, InfinityDefi has positioned itself as the world’s first multi-collateral lending DeFi platform where users can deposit, lend and borrow cryptocurrencies at some of the industry’s best rates.

The entire InfinityDefi ecosystem comprises a series of derivative products including multi-stablecoin index, DEX, liquidity aggregation platform, safety reserve, options and convertible debt. These products together bridge the gap between unused crypto assets and demand for short term borrowing, thereby enabling everyone involved to make profits.

The InfinityDefi protocol is fuelled by the INFI ecosystem token and the PPT equity token. While INFI enables the token holders to participate in project management, control financial risk, and vote in the decision-making process, PPT act as reward tokens earned against transactions made on the platform. The PPT tokens can be exchanged with INFI.

Collateral Loans on InfinityDefi

InfinityDefi offers an aggregated product with crypto collateral lending and savings using a flexible pledge and redemption mechanism. On the platform, users can utilize their crypto holdings to earn interest or secure a short-term loan. Unlike other crypto lending DeFi solutions currently in the market, InfinityDefi supports secondary loans and multi-value-added loans, which helps users unlock more value and liquidity from their assets. Collateral financing on the platform can be secured from different creditors while maintaining an ultra-low pledge ratio of up to 10% less than other peers.

Users can use a wide range of cryptocurrencies including DAI, USDT, USDC, TUSD, BUSD, HUSD, ETH, HT, OKB, and more as collateral for lending and borrowing. The utilization of a unique polymerization pool in conjunction with an algorithmic interest rate model that dynamically adjusts interest rates to balance supply and demand. All deposits and disbursements are directly processed from the polymerization pool, which includes servicing of the secondary loan on top of existing loans, against the initial collateral and multi-value-added loans where users can pledge the value-added part of collateral to get additional loans.

By design, InfinityDefi has some of the lowest position coverage for collateral which is set at a maximum of 145% and a minimum of 125%, in case of secondary loans or a fall in the value of collateral. In addition, the platform also has an auto-liquidation feature in place that dissolves the collateral in case the value of collateralized assets falls below minimum position coverage and the borrower fails to deposit additional assets to cover for the shortfall. The liquidation of assets happens at the prevailing market price to recover the principal and outstanding interest, with any excess funds returned to the borrower. During liquidation, if the value of available collateral doesn’t cover the pool’s exposure, InfinityDefi protocol’s safety reserve will step in to cover the losses, thereby ensuring the interests of investors and borrowers are protected at all times.

These features also enable InfinityDefi to provide 5% lower loan rates, 20% higher loan limits and faster capital turnover than other DeFi platforms.

Advantages of InfinityDefi Collateral Loans

The InfinityDefi platform allows all the stakeholders to profit from their crypto assets to earn both active as well as passive income. For those looking for earning a passive income, holding crypto assets, and waiting for their value to appreciate is not the best option, as the volatile nature of markets creates a lot of uncertainties. Instead, they can deposit their assets on INFI DApp to earn interest on their holdings. The interest rate for such deposits are directly related to the Polymerization Pool interest rate, calculated using the formula:

*where ‘j’ is one of the deposited cryptocurrencies which is part of the polymerization pool

The deposited principal and accrued interest can be withdrawn by the user at any time. Based on the demand and supply, the interest earned on deposited assets over time can potentially turn out to be more than what the depositor would have gained by holding, more so, in case of a stablecoin.

Meanwhile, collateralized loans help those either in need of funds to meet their obligations or those looking for additional liquidity for trading. The reduced interest rates, along with options for secondary and multi-value added loans make it easy to secure necessary funds for trading needs, which could help increase the margins on profitable trades. It could also be used for arbitrage, leveraging the interest rate gap on different DeFi lending platforms to generate profits instead of directly using the price difference of underlying assets.

The PPT tokens earned performing each of these actions also adds to the profits. The amount of PPT earned depends on the collateral/loan amount and duration. These PPTs can be exchanged for INFI and traded on exchanges where the token is listed.

Overall, InfinityDefi provides a safe, profitable, transparent, and low-risk way for users to invest and manage their crypto assets.

Learn more about InfinityDefi at –
Read InfinityDefi whitepaper at –
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DeFi Still Needs a Silk Road Moment



Mainstream criminal adoption would prove that decentralized finance (DeFi) is building tools with real utility, because if there’s any one group that is both underserved in its access to sophisticated financial products and willing to pay huge premiums to acquire them, it’s criminals. 

The Silk Road was launched in February of 2011 and quickly became the first example of Bitcoin’s product-market fit. While some proponents of cryptocurrencies argue that today criminal activities are a small percentage of all cryptocurrency transactions, censorship resistance is one of the key features of all decentralized technologies and criminals have played a part in crypto’s wider adoption. 

Boaz Sobrado works in tech, bringing the opportunities of the internet to those who need them most.

Bitcoin’s ability to make payments “the man” doesn’t want you to make is what makes the cumbersome tech worth it. This can include criminal activity such as ransomware and darknet markets (DNMs), but also funding Sci-Hub (a rogue academic publisher) and opposition leaders in oppressive regimes.

Adoption by criminal enterprises is evidence of the product/market fit of censorship-resistant technologies and an indicator of whether innovation will see usage in the non-criminal world. It would have not been possible to create the Silk Road without a truly effective censorship resistant payments method. The fact that Silk Road and other criminal enterprises are able to use bitcoin effectively is evidence cryptocurrencies are a useful and censorship resistant tool. As of now criminal activity online is mostly based on bitcoin, although other cryptocurrencies, such as monero, also play a part.

The 2017 initial coin offering bubble and “games” like FOMO3D have shown that Ethereum is useful for a different sort of criminal activity: unregistered security sales and other elaborate Ponzi schemes. In a way, this is evidence of its effectiveness as a permissionless smart contract platform. But just because Ethereum has proven itself to be useful for Ponzi schemes and scams does not mean it is useful for more than that. Criminal adoption is a necessary, but not a sufficient, condition for the success of censorship-resistant technologies.

The latest hot new trend on Ethereum is decentralized finance (DeFi). According to Associate Professor Jeremy Eng-Tuck Cheah, DeFi is the ability to create and use “financial services using smart contracts, which are automated enforceable agreements that don’t need intermediaries like a bank or lawyer and use online blockchain technology instead.” 

I’ll believe DeFi has a product-market fit when drug smugglers can buy trust-minimized insurance for their shipments and retail speculators can gamble on the price of cocaine in Australia the same way they do with the price of oil in Texas.

These contracts are programmable and can be built into decentralized applications (dapps). We now have automated market makers, decentralized autonomous organizations (DAOs) that play an important role in funding allocation, protocols such as UMA and SNX for building synthetic assets that mimic the price action of off-chain assets, decentralized price oracles such as Chainlink to bring off-chain data onto smart contracts, and all sorts of other infrastructure that were not available in 2017.

Some would argue this is not new infrastructure, but these are just fishy toys designed to take money away from fools. Is there real utility to this new financial infrastructure? Or are most of the problems DeFi is solving problems the same problems DeFi caused in the first place, as Nic Carter believes? 

There are a few hints that financial infrastructure of criminals is being built. One of the largest DNMs, Hydra, considered doing an ICO late last year but eventually desisted. Given the extensive history of DNM exit scams, it is highly risky that a DNM would be tempted to take the funds they raised and run. The largest and most trusted DNM, Empire Market, recently exit scammed, reportedly taking $30 million in BTC of user’s funds. Given that governance tokens are all the rage these days, why not set up a market that can be owned and managed by both the users and the vendors in a trust-minimized way? Think Uniswap meets the Silk Road.

Another product DNM vendors would gladly purchase are insurance products that protect against market exit scams and other sources of systemic risk, such as continued DDOS attacks against DNM sites. Current DeFi analogs include Nexus Mutual.

Disputes over insurance claims and even over drug shipments could also be handled in a decentralized way. Dispute resolution is one of the most resource-consuming problems of DNMs, and dispute resolving admins are proven to be security holes as a trusted third party. Why not outsource dispute resolution to a decentralized platform such as Kleros?

See also: What Is DeFi?

The price information on the DNMs themselves can be used to create financial products. A price index can easily be assembled for a variety of products ranging from high-purity cocaine in Florida to amphetamines in Australia. In the same way the West Texas Intermediate (WTI) oil price is a reference price for oil markets, the South Florida Cocaine index could be a reference point for cocaine markets. Synthetic assets such as perpetual swaps could be built upon the price index using the Perpetual Protocol or SNX. Producers and smugglers would then be able to hedge their positions, in the same way airlines hedge their fuel costs for the year using WTI futures.

History doesn’t repeat itself, but it rhymes. If these projects truly are censorship resistant and create value, we will inevitably see them adopted by those who need them most: criminals. I’ll believe DeFi has a product-market fit when drug smugglers can buy trust-minimized insurance for their shipments and retail speculators can gamble on the price of cocaine in Australia the same way they do with the price of oil in Texas.

For the DeFi enthusiasts reading this, it may be worth thinking: Will we be seeing this sort of adoption? If not, what is stopping it from happening? Those reasons are the true obstacles to the growth of DeFi adoption.



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