Bank of America’s analyst says that Solana could take market share away from Ethereum. Noting that Solana is optimized for micropayments, gaming, and non-fungible tokens (NFTs), the analyst expects “Solana could become the Visa of the digital asset ecosystem.” Bank of America on Crypto, Ethereum, and Solana Bank of America (BOFA) analyst Alkesh Shah published […]

On December 27 2021, Metis Andromeda, a Layer 2 network based on a fork of Optimism, clocked a seven-day 142% TVL increase, surpassing $180 million.

Starting ADALend CEO Kaspars Koskins interview series, one of the most promising companies that is revolutionizing the lending industry by using blockchain technology to disintermediate the traditional middlemen – providing unprecedented access to loans for those ignored by the traditional banking system and providing high yields for investors in a persistently low-interest-rate environment. I hope you are as excited for this conversation as we are so let’s jump in. Q: Welcome Kaspars, we know you are a busy gentleman these days with the public launch of the ADALend lending platform and token this quarter but thank you for making time to speak to us today. Let’s start at a very high level – can you give us the elevator pitch for ADALend that so that those of us that are new to Decentralized Finance and Crypto (or Web3 as they fashionably call it these days!). Koskins: It’s a pleasure to be here and I am thrilled to share with your audience a little more about what we are building at ADALend and how they can participate but first let me try to summarize in layman’s terms what our mission is. We are developing a scalable, trustless, and decentralized lending protocol that harbors users within a self-governed environment. From day one, we committed to building natively on the Cardano blockchain, which will enable the lending platform to aggregate protocols that support business models that give economic support to billions of users. ADALend will bring back the balance of power between lenders and borrowers. By allowing the use of digital assets as collateral, the use of the platform will be diversified to the benefit of the user. Q: Thank you for that –  can you tell the audience a little more about why you chose the Cardano blockchain when there are already successful DeFi projects built on Ethereum and new blockchains like Solala for example? Koskins: Certainly, let me begin by explaining that Ethereum is no longer usable by the majority of people on earth due to the high transaction costs. The gas fees on Ethereum have reached hundreds of dollars per transaction over the past year. This would be unacceptable to ordinary people in the western world today but for the millions of unbanked people in the developing countries of Africa and Asia, this renders ETH useless as they need to lend and narrow far smaller amounts. Ethereum has therefore become a layer 2 blockchain for the rich and the newcomers you mention like Solana have problems with centralization and reliability. Cardano is the only truly decentralized blockchain with the required security, speed and low transaction fees required to provide a truly democratic financial solution that can be used by every human on planet earth – and our vision aligns perfectly with the Cardano Charles Hoskins who is passionate about improving financial outcomes for people all over the world, regardless of race, nationality, gender or financial status. Q: Thank you, those are truly powerful words Kaspars, and we are fortunate to have projects like Cardano and platforms like ADALend that can bring this vision of democratic inclusion into reality. So as well as the mission to do good in the world, many of our readers are executives, professionals and small business owners that are managing their own portfolios and wondering how they can preserve their capital and earn a good yield in this hyperinflationary environment when interest rates are so low.  People are seeing their retirement nest egg or children’s college fund declining in real terms due to the frankly crazy macroeconomic environment we find ourselves in today in the US, Europe and many other parts of the developer world. How can these middle-class, hard-working people benefit from ADALend? Koskins: Well this is the other side of the coin isn’t it. One of my personal inspirations to found ADAlend is that in my home country of Estonia in northern Europe, I was working in the traditional retail lending space and with credit unions savings. I have seen firsthand how people were unable to get a decent interest rate at the banks and were genuinely worried about their future as prices and the cost of living was rising far faster than salaries. The banks’ hands are tied as the interest rates are set by the Federal Reserve in the US and the European Central Bank in the EU. I began exploring Decentralised Finance (DeFi) as a way to earn a yield on my own family’s savings which led me down the rabbit hole and brings us here today. Our commitment to ADALend lenders is that we will provide a safe secure lending platform where they can stake their hard-earned savings in Cardano (ADA) or the ADAlend token (ADAL) or the form of stable coins like USDT or USDC and earn a market-beating yield on it in the high single-digit or lower double-digit percentages. The ADALend platform is highly liquid without long-term lockups so our lenders will earn interest for the time their savings are “staked” on the platform and can withdraw anytime. The other side is for borrowers – many small business owners, entrepreneurs and the self-employed can find it hard to borrow money from traditional banks to buy a car, pay a downpayment on a house, invest in their business or fund a dream holiday. At ADALend we don’t do credit checks and we don’t care about salary history. Traditional banks and lenders do not recognize digital assets as collateral. We will provide an over collateralized lending facility to these borrowers where they can stake their digital assets like Bitcoin, Cardano or any other major cryptocurrency and we will lend them US Dollars or  Euros against their holdings. This will provide crucial liquidity to a large number of hard-working professionals and self-employed people that were previously ignored by the banks. By the way, this type of over-collateralized lending against access has been used by the top 1% of wealthy people in the world to fund their lifestyles and investments and to optimize tax for decades. ADALend is now bringing these financial solutions to everyone that were once the privilege of the rich. Q: That is truly a noble goal – and I love to see that you are helping out the middle classes like us as well as the poorest folks in the world.  Let’s talk about partnerships, investors and technology. I understand that DeFi and CeFi (centralized finance) is a highly competitive space, especially before your Initial DEX Offering (IDO) in March 2022, but what can you share in that area without all our readers signing an NDA? Koskins: Absolutely – you have hit the nail on the head, the space is getting more and more competitive by the day from other new projects building DeFi on other blockchains and the CeFi incumbents like BlockFi so we need to be selective about what we can reveal. However, I can share some insights with you today, On the technology side – by leveraging the Cardano blockchain, ADALend will be able to tap into the vast digital cash management market. By creating a technology that allows anyone to delegate their digital cash and make it available for a loan, ADALend is opening up the potential for blockchain-powered liquidity. We are aiming to be Cardano native in everything we do and are building the platform using Haskell and Plutus and working within the present limitations of Smart Contracts on this blockchain. On the partnership side, Input-Output Hong Kong (IOHK) has listed ADALend on their “Essential Cardano List” of projects that are considered part of the ecosystem supporting and providing Cardano users with products and services. We are also listed on  CardanoCube.io and I know our Business Development team is hard at work on several exciting partnerships we will be announcing in February that will really move the needle so watch this space! In terms of funding, we were delighted to have a highly respected Venture Capital from Moonwhale Ventures as our lead investor and our private sale is almost closed. We are now in a very good position financially and more selective in who we will take funding from, as we don’t want to favor the VCs over retail investors as many projects do. We are reserving a good allocation of ADAL tokens for our community also. Q: This is excellent news Kasparas – I am hearing all too often that new crypto projects are providing huge allocations to the VCs who then dump on to retail. It looks like you are being far more inclusive at ADALend and giving excellent opportunities for smaller and medium-sized accredited investors to access the private sales that were once the preserve of the VC elite, as an experienced small investor myself I salute you! I must say, after our discussions today I am super keen to get involved and I am sure our audience is too. Where can they learn more about the private sale, the public IDO launch and how to get involved? Koskins: Thank you for the kind words and thank you for the conversation today – I genuinely enjoyed it and sometimes I still have to pinch myself when I realize how far we have come in the past year! Sure, we are in the final stages of the private sale now so if you or your readers would like to apply for an allocation of ADAL tokens you can email [email protected] with the subject line “CEO Interview” and I’ll make sure our private sales team responds to them ASAP. You can find more details at our website ADALend.finance Q: Thank you for your time Kaspars, and I’ll get back to the building. Koskins: My pleasure, and I’ll take this opportunity to wish you and your readers a prosperous and profitable year ahead!  

MATIC coin price struggles to overcome selling pressure of $2.45 despite constant support from rising EMAs. Will the bears overtake trend control? Polygon utilizes a modified variant of the Plasma framework, which is based around proof-of-stake checkpoints as a part of the Ethereum mainchain. This innovative technology lets each sidechain on Polygon process as high as 65,536 transactions per block. Polygon currently has support for only the Ethereum sidechain. The network plans to expand support for other base chains in response to suggestions from the community and consensus. This will make polygon an interoperable and decentralized layer 2 blockchain platform. Let us move ahead to read about Polygon technical analysis. Past Performance of MATIC The MATIC coin price action reflects a rise of 20% in the last five days after finding demand near the support trendline in action. However, the price struggles to rise above the resistance zone at $2.45 in the daily chart. It is evident by the recent bearish candle and a higher price rejection in the present daily candle. MATIC/USD Daily Chart MATIC Technical Analysis The MATIC coin price action finds support, after a 30% fall, near the high confluence support area near $2, 100-days EMA, and the support trendline. However, the push from the high-demand zone struggles to overcome the selling pressure at $2.45.  Crucial EMAs (50, 100, and 200) rise higher in a bullish alignment helping maintain a bull run in action. It is evident by the constant dynamic support of 50 and 100-day EMAs. The RSI indicator at 65% shows a sideways movement as the slope flattens slightly above the central mark in the daily chart. However, the 14-days SMA falls below the central mark, giving a bearish warning. The MACD indicator shows a spark in the fast line as it rises to give a bullish crossover, but it flattens as it approaches the signal line. Nonetheless, the falling distribution of the bearish histogram reflects a solid bullish revolt. Therefore, the MATIC technical analysis reflects high selling pressure at $2.45, but the gradual growth in the underlying bullishness might soon overcome it.  Upcoming Trend The constant support from the crucial EMAs to the MATIC coin price indicates a solid underlying bullishness. Therefore, the chances of bullish reversal rising above the zone at $2.45 are high. Thus, traders can find an excellent breakout entry opportunity shortly. The price action suggests high supply areas at $2.70 and $3 can post-breakout bull run. And, in case of a bearish trend, the price can find support at $2.15 and the 50-day EMA. At the time of writing, the sentiments chart gives a “BUY” signal for the Polygon token.

The post MATIC Technical Analysis: Selling Pressure At $.245 Triggers Fear of Bearish Downfall, Is It The Time To Sell? appeared first on Cryptoknowmics-Crypto News and Media Platform.

In a recent interview (with Crypto Capital Venture Founder Dan Gambardello) Cardano founder Charles Hoskinson talked about his vision for Cardano in 2022. According to a report by The Daily Hodl, here are a few highlights from that interview: “I think everything will get done that I outlined – the sidechains, the pipelining, the import […]

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

In one of the latest developments, crypto exchange Binance seems to have started direct withdrawals to Layer Two Ethereum Networks. Popular crypto analysts Lark Davis was the first to spot this development by sharing a screenshot on his Twitter profile. Oh boy…… Binance just enabled direct withdrawals to layer two #ethereum!!!! HUGE NEWS!!!! pic.twitter.com/4B2t2nV9OB —

The post Crypto Exchange Binance Enables Direct Withdrawals to Ethereum Layer 2 appeared first on CoinGape.

2021 was an exciting year for the blockchain.

The post What to expect from the blockchain world in 2022? | Footprint Analytics Annual Report 2021 appeared first on CryptoSlate.

The company started in 2019 is well on its way to revolutionizing the payments and remittances world through Bitcoin.

Solana will curve off Ethereum’s market share to see Visa-like transactions, says BofA strategist…

The post Solana could become the ‘Visa of crypto’, says Bank of America appeared first on Coin Journal.

Layer 2 crypto are in high demand in the crypto space because of their high scalability and low prices. The potentials in these assets have [...]