Around the Block from Coinbase Ventures sheds light on key trends in crypto. Written by Connor Dempsey, Ryan Yi & Justin Mart.2021 was...

Introduction Decentralized finance (DeFi) started gaining traction in 2020 and has since amassed over $240 billion in market capitalization. DeFi ...

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Decentralization, at its core, is and has always been a community-driven revolution in money and culture, and cryptocurrency has served as a key player in the movement. After the advent of cryptocurrency, Dogecoin came in as a meme coin purely to mock investors who bought crypto despite a lack of understanding of the concept. Ironically, Dogecoin grew to become one of the most valuable coins in terms of market capitalization. Once Dogecoin emerged as a trend it rapidly spread into popular culture and with its widespread success, several tokens based on dog breeds were been created, including Shiba Inu, Baby Shiba Inu, and Floki Inu – named after Elon Musk’s pet. Dogecoin is now being accepted as a form of payment at Coinbase Commerce, paving the way to conventional utility, and with the Metaverse growing and evolving, users can already use several cryptocurrencies, including meme coins as payment in various ecosystems. With the power of artificial intelligence meme coins have finally come to life. A relative newcomer in the space Kitty Inu ($KITTY) splashed onto the scene with a Fair Launch on October 24, 2021. Capitalizing on the dog-themed coin craze, the adorable Kitty Inu meme is of a cat disguised in a dog costume, seemingly so she can run with the big dogs. The female-led team behind Kitty Inu is comprised of experienced industry professionals, who have wasted no time laying out their vision and embarking on some seriously ambitious projects, especially given the current microcap status of the project. The $kitty token will be the native currency of an NFT based Free-to-Play and Play-to-Earn racing game, KittyKart, being built on the Ethereum blockchain where players race karts to “mine” NFT assets.  Through continued gameplay, mined NFT assets will then confer either skillset advantages or enhancements to visual appearance.  Assets will have the ability to be “mined” (earned) through gameplay or bought and sold on the secondary market via the in-game marketplace. From the preview trailer on the Kitty Inu website, it appears KittyKart will be colorful, serious, and fun, having been inspired by the likes of past favorites such as Mario Kart and Crash Bandicoot.  Further broadening the game’s appeal, Team Kitty has been acquiring popular NFTs, the likes of a Bored Ape, a Deadfellaz, and Rumblekong to name a few, for use to populate the game with characters that will be inclusive of the larger community. The beta release of Kitty Kart is expected around the end of January or early February of 2022. Kitty Inu is also engaged in a partnership with The Culture Dao ($CULTUR) a decentralized Web3 Pixar and Virtual Beings Development Guild founded by Emmy award winner Edward Saatchi (founder of Fable Studios and co-founder of Oculus VR story studio) and blockchain developer Anna Nevison, M.S. to assist in the development of an Artificially Intelligent Kitty Virtual Being.  AI Kitty would tap into an array of data from sources such as news & world events, cities, communities, social media, facial analysis, and Google trends to teach her to feel.  The intent is that AI Kitty would empathize on multiple scales, gathering data from the communities that adopt her and once perfected in the metaverse, she would find a place in IRL public spaces. Furthering the use-case of their token, Team Kitty Inu also recently partnered with Shopping.io where non-us holders can use their Kitty Tokens to shop at major retailers online.  They have also have retained the outside legal counsel of the international law firm of Squire Patton Boggs to aid in the development of their business enterprise.  Furthermore, Kitty Inu is Certik audited and the Lead Developer is KYC Verified by InterFi Network. Kitty Inu ($kitty) is currently available for trade on Uniswap and Pancakeswap.

Crypto.com, a leading cryptocurrency exchange, experienced an incident on January 17 when some of its users reported strange activity in their accounts. The exchange acknowledged the event, and conducted an investigation immediately after, declaring that all funds were safe. However, reports from security and blockchain auditing firms Certik and Peckshield indicate that some funds were […]

Certik, a blockchain security and auditing firm, has reported that the most common attack vector for hacks in decentralized finance (defi) protocols had to do with centralization in 2021. This data is present in Certik’s latest report, where the company also examines the growth of defi in 2021, and how other chains such as Avalanche […]

In this guide, we list the ERC-20 tokens currently supported by mobile wallet Coins.ph in the Philippines.

The post What are the ERC-20 Tokens Supported by Coins.ph appeared first on BitPinas.

New York, NY, Jan 14, 2022 - (ACN Newswire) - CreDA (Credit DeFi Alliance), the leading decentralized credit rating service and FilDA, the largest ever DeFi lending platform on HECO with a peak TVL of over US$2 billion, have partnered to offer exclusive lending rates to CreDA users. Users who mint their Crypto Credit Score as a Credit NFT (cNFT) will have access to leveraged lending and low or no-collateral loans directly within the CreDA platform.

The partnership comes only a few months after CreDA officially launched its platform and demonstrates the value Crypto Credit Scores can have by removing many of the barriers in traditional banking and the DeFi space. According to Bank of America, over 200 million users are now part of the digital asset universe, yet very few financial institutions would provide them with a loan. Even within the DeFi space, lenders operate in an over-collateralized manner with typical loan-to-value (LTV) ratios below 50 per cent.

Modeled after traditional consumer credit agencies, CreDA introduces the concept of personal credit scores into the $250 billion decentralized finance (DeFi) ecosystem.

Leveraging existing blockchain infrastructure, CreDA provides a trust architecture for the relatively young and volatile MetaFi ecosystem that includes emerging areas such as DeFi, GameFi and SocialFi.

"While our core business is focused on supporting the overall ecosystem through trusted and verifiable credit scoring, ours is a new concept for this space. By partnering with FilDA we hope to demonstrate the value and viability of the CreDA Credit Score to reward both users and lending institutions by brokering more transparent and trusted relationships," explains Fakhul Miah, incoming Chief Executive Officer. "We like to say that we're finally giving credit where credit is due."

How to get leveraged, low or no-collateral loans

CreDA allows users to link their wallets, mint a credit NFT (cNFT) and borrow at industry-defying rates, all from within the same platform.

CreDA provides on-chain credit ratings using the CreDA Oracle, which employs artificial intelligence (AI) to examine the user's assets, historical transactions and behavior in the crypto space across multiple blockchains. This data is used to calculate a credit score that is then minted into a secure non-fungible token called a credit NFT (cNFT). The cNFT enables the user to unlock preferential rates and incentives.

The FilDA partnership lets users access leveraged lending and low or even no-collateral loans based on the users Crypto Credit Score. The score represents a user's ability and willingness to pay back loans, de-risking Filda's exposure and rewarding the user for good on-chain behavior.

One major focus for CreDA is ensuring a safe and secure experience for users. To do this, data is fully protected, secured by industry leading, W3C compliant Decentralized Identifications (DIDs), which are linked to a user's cNFT. CreDA recently underwent a strict security audit with leading blockchain security group, CertiK.

About CreDA

Built on the Ethereum Layer 2 network, CreDA operates on Arbitrum with developers aiming to launch across multiple chains including, BSC (Binance Smart Chain), Ethereum mainnet and ESC (Elastos Sidechain) in Q1 of 2022 with more to follow throughout the year.

CreDA's Credit Oracle has already retrieved the data of billions of on-chain activities related to more than 90 million addresses across the largest blockchains. This large initial data pool helps to build a reliable and trusted credit model that will continue improving as more data is collected from additional chains and users who connect and mint their credit scores. The CreDA protocol is designed to compute a user's Crypto Credit Score while protecting their identity through the use of a DID, which does away with KYC (know your customer) checks.

The aim for the CreDA protocol is to eventually combine traditional (off-chain) and blockchain (on-chain) data to compute a holistic user credit score that allows for more flexibility and access between people's virtual and 'real world' lives. This will become even more relevant as technology advances and society continues to embrace virtual spaces, such as the Metaverse.

"As Benjamin Franklin once said, 'If you want to know the value of money, try borrowing some!' said Cassie Zhang, Chief Operating Officer during CreDA's launch in late 2021.

"The DeFi landscape is quickly evolving, but there is still one factor that is missing -- credibility. The CreDA protocol enables DeFi and other Web 3 platforms to model risk profiles across their user base and offer personalized rates and services, making them more competitive versus industry peers."

Social Links
Twitter: https://twitter.com/credafinance
LinkedIn: https://www.linkedin.com/company/creda-finance
Discord: https://discord.com/invite/eSvTm6a6kb

Media Contact
CreDA (Credit DeFi Alliance)
E-mail: [email protected]
Website: www.creda.app

SOURCE: CreDA

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.com

Seashell isn't the first to offer an easy-to-use high yield DeFi product. But it believes that, unlike others, it won't run into trouble with regulators.

Certik says the centralization of operational models cited is one of the major faults amongst protocols that suffered mishaps, causing at least $1.3 billion loss to users last year. (Read More)

The blockchain and smart contract security firm CertiK found centralization risks in more than 16% of all audits performed in 2021. 1,737 smart contract audits in review Throughout 2021, CertiK performed a total of 1,737 smart contract audits. Out of these, 286 audits found a centralization risk. As an example for a hack that occured […]

The post Centralization Is The Most Common DeFi Vulnerability, Says CertiK Report appeared first on CryptoCoin.News.

The global market for gaming has grown almost exponentially over the course of the last two decades, reaching an estimated value of more than $170 billion in 2020 with experts predicting the market will double in value by 2026 (Global Gaming Market, Mordor Intelligence Report). While plenty of crypto projects have attempted to capitalize on this segment of the market, one project, Bit Rivals, has carved out a unique niche for itself by bringing the best of gaming and crypto together using a feature-packed play-to-win and play-to-earn ecosystem powered by the $RIVAL token.

The Bit Rivals presale is scheduled to take place on January 21, for whitelisted investors only. However, Bit Rivals has opened two competitions to give you the chance to win a spot on the whitelist. You can either join the Bit Rivals Gleam giveaway or enter the competition in the project's Telegram group.

What is Bit Rivals?

Bit Rivals, which is currently completing the final stages of its Certik audit, brands itself as the ultimate platform for gamers. Their vision is to provide a level playing field by giving gamers of all skill levels more opportunities to earn rewards than rival projects that focus almost exclusively on high-skill, high-stakes eSports tournaments.

The Bit Rivals platform is composed of five main zones that are tailor-made for gamers and crypto investors. All users need to access them is a Rival ID, which is the gateway into the Bit Rivals ecosystem. As players progress in their favorite games, they'll earn badges and achievements that they can use to show off their skills and customize their profile, along with unique backgrounds, avatars, and titles that they can earn through Rival Rewards.

The Rival Arena is where players can win $RIVAL by participating in official tournaments hosted by either Bit Rivals or other Bit Rivals users. Players don't even have to play in tournaments to earn $RIVAL in the Arena. Reputable organizers and users that regularly host and market their own tournaments can collect an organization fee for their effort and can apply to fund their tournament's prize pool using the project's tournament wallet allocations.

The Rival Player Hub is at the heart of Bit Rivals. Players can use the platform's searchable player base directory and built-in VOIP to find, chat, and play with friends or build their own dream team to compete in tournaments hosted in the Rival Arena. The Player Hub also has global and game-specific leaderboards for players to climb and showcase their skills.

Rival Rewards is the way Bit Rivals levels the playing field, with a play-to-earn model that rewards players for playing their favorite games with Rival Points. These Rival Points can be used to buy $RIVAL tokens, cosmetics for users' Rival ID profile, NFTs, and gaming gear such as keyboards, monitors, and GPUs. All users need to do to earn Rival Points is to link their gaming service accounts, such as Steam or Origin, to their Rival ID.

Rival Loot is the official Bit Rivals marketplace, where players can spend their Rival Points and $RIVAL tokens to get rewards such as branded merchandise, hardware, and unique cosmetics. Artists can also use the Rival Loot store as a way to mint and sell their own NFTs for a commission.

Finally, Rival Swap is the platform's built-in DEX tool where investors can stake, swap, and farm $RIVAL. Investors will also be able to exchange BSC $RIVAL for pegged $RIVAL tokens on other platforms, including Ethereum, Matic, and Cardano.

Bit Rivals Launches its Presale on January 21

Bit Rivals will hold a private presale of 250 million $RIVAL tokens, 25% of the overall supply, on January 21 on DX Sale. Whitelisted buyers, as identified by their BSC wallet address, will be the only ones able to participate. Each buyer will have a maximum contribution equivalent to 8 BNB and a minimum contribution equivalent to 0.1 BNB, with an overall hard cap of $750,000.

Whitelist Spots Available Through Gleam and Telegram Competitions

Anyone interested in earning a spot on the whitelist can participate in one of two Bit Rivals-run giveaways. 800 spots on the whitelist will be allocated to the winners of its Gleam giveaway, which closes on January 19 at 12 PM GMT. An additional 20 spots will be given to winners of its Telegram giveaway, with more details available at t.me/BitRivals. All winners of both giveaways will be notified on January 20 via Telegram.

To learn more about Bit Rivals, check out the links below

Website: https://bitrivals.gg/

Telegram: https://t.me/bitrivals

Twitter: https://twitter.com/BitRivals

Instagram: https://www.instagram.com/bitrivals/