Wall Street giant, Barclays is facing a censure order and a monetary fine of $350,000 from the Financial Industry Regulatory Authority (FINRA), a self-regulatory body in the United States.

The U.S. Attorney’s Office for the Southern District of New York announced that Arthur Hayes and Benjamin Delo, co-founders of the BitMEX cryptocurrency exchange, pled guilty to violating the Bank Secrecy Act (BSA) by “willfully failing to establish, implement, and maintain an anti-money laundering (AML) program at BitMEX.” The co-founders of the exchange admitted to using their […]

Catch up with all the action from the third week of F1 Esports Challengers 2022!

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Key Takeaways As crypto has grown, regulators have become more interested in monitoring the space. Several U.S. agencies, including the SEC, CFTC, and OCC,...

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The SEC vs Ripple lawsuit has come a long way and has been increasing curiosity among crypto enthusiasts since then. As the case proceeds, people have been guessing all sorts of consequences, be it a settlement among two parties or a win for one. One thing is for sure that the result of this case

The post Ripple VS SEC: Will SEC Strike A settlement With ETH? XRP Lawyer Drops Hint appeared first on CoinGape.

Seoul, Korea, Feb 11, 2022 - (ACN Newswire) - Recently, Tower Finance is proud to announce the Launch of its Algorithmic Stablecoin. Algorithm-based stablecoins are new variants of cryptocurrency tailored for offering improved price stability. In the current market today, more and more users have taken interest, as it can also help in balancing the supply and demand of the asset in circulation.

Algorithmic Stablecoin Protocol, developed by Tower Finance, looks to offer considerably improved capital efficiency in comparison to collateralized stablecoins.

What is Tower Finance?

The Tower Finance is a Fractional-Algorithmic Stablecoin, soft-pegged to the U.S. Dollar, built on the Polygon network. The protocol plans to maintain TWR price stability by storing sufficient collateral in the time locked-smart contracts. The USDC is deposited into the protocol when a user mints TWR token, while the CUBE token, which is used for minting, is burned. When the user redeems TWR tokens, the protocol pays back USDC and mints the required amount of CUBE tokens. This allows arbitrageurs to help maintain price stability.

Aiming to solve the 'Stablecoin trilemma'

Tower Finance aims to provide a solution for the so-called 'Stablecoin trilemma' of decentralization, capital efficiency, and price stability by introducing TWR, its fractional-collateralized algorithmic stablecoin. Tower Finance aims to build an ecosystem that incorporates both collateral and high capital efficiency, hence developing stability.

By implementing a floating collateralization ratio, TWR not only maintains its peg in the most efficient manner possible, but it also captures value for CUBE holders and produces yield for its community of holders.

Implementing DeFi 2.0 through Protocol Owned Liquidity and Protocol Rented Liquidity

Tower Finance is the first algorithmic stablecoin protocol to adopt the 'Protocol Owned Liquidity' model introduced by OlympusDAO. While the structure is different, the underlying idea is similar. The protocol charges a penalty to users who terminate the vesting terms for the farming rewards. When this happens, the protocol uses 2/3 of the collected penalty for providing liquidity. Half of it is converted to USDC and used to provide liquidity. The leftover, which amounts to 1/3 of the collected penalty, is sent to the Profit Manager.

When TWR is minted with USDC and CUBE, the protocol doesn't immediately burn CUBE. Instead, 50% of CUBE is sold to temporarily create a CUBE-USDC LP to provide additional liquidity. We call this 'Protocol Rented Liquidity', because the meant-to-be-burnt tokens are borrowed for a short period of time to add liquidity to Tower's ecosystem until it is removed via governance decisions, in which case, the USDC is converted into CUBE and burned.

With a commitment for long-term sustainability yet a market fit, ultra high-yield/yield enhancement go-to-market strategy, it is perfectly destined to pave the way for stablecoin protocols in the era of DeFi 2.0

Tower Finance officially launches on Valentine's Day: 14^th of Feb, 6:00am UTC.

https://medium.com/@tower_finance/calling-all-towerians-the-time-has-come-2fa7fe9a24fc

Social Links
Twitter: https://twitter.com/tower_finance
Discord: https://discord.com/invite/KVTe6hRZK8
Medium: https://medium.com/@tower_finance
Github: https://github.com/towerfinance

Media Contact
Brand: Tower Finance
Contact Jeremy Parker, Head of Marketing
E-mail: [email protected]
Website: https://towerfinance.io/

SOURCE: Tower Finance

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

Just 10 hours after the launch, the project already had 2,696 holders, $806,278 paid out in BUSD, and a $22M MCap. At the moment, there are over 4,000 holders and $1M already paid out in BUSD. In addition to exciting news, the project is bringing a secret utility in Q4.

The financial platform is creating a solid and infinite growing community. With its innovative and experienced team, Reflex Finance offers the crypto community a stable way of earning passive income. The project aims to disrupt and revolutionise the industry to benefit the crypto community ultimately.

Legion Launchpad at Work!

Recently, a Reflex Finance-backed project dubbed the Legion Launchpad will go live in the first quarter of 2022.  The launchpad aims to create a 100% secure token launching platform that is rug-proof on their network. According to Reflex's team, the launchpad was made by the people for the people. In addition, the team suggested that Reflex does not have long waiting periods or ignores new projects like PinkSale.  

By merging an all-in-one dex and launching platform, your buying power will be quicker and more precise on locking in costs and benefiting the community. The accelerated buyback and burn also helps the project to run fast. Notably, on Feb 2, the projects were listed on CMC and CG .

Staking to Earn on Reflex

Members of the Reflex community can stake their $REFLEX tokens on the staking dapp to obtain staking incentives in the native token. The Reflex Finance staking scheme is unusual in that, in addition to collecting $Reflex, stakers can also receive BUSD when they unstake. It's essentially the same as having a savings account with interest.

There is a 10% penalty if you unstake the total funds and lose stake incentives. Reflex will lock the APR of your stake. As a result, whether the project grows or decreases, the holder, who is locked in at the existing APR, will be unaffected. The staking period ranges from 7 days to 180 days with 5% to 40% APR ranges.

Tokenomics 

The total supply of $REFLEX is at one quadrillion. The ongoing presale will utilize 32% of the tokens and close on February 12, 2022, at 16:15 UTC. The presale rate is 1 BNB (400,000,000,000 Reflex tokens). The minimum purchase will be 0.1 $BNB, while the maximum will be 5 $BNB.

Note that the smart contract will distribute 8% of the total volume to all token holders. As a deflationary token, 1% of the tokens will be repurchased and burnt over time. Similarly, 34.1 % of the total token supply was burned before the presale. 

Reflex has set the locked liquidity for 14.9%. The individuals of the private sale are contractually obligated to hold $REFLEX for six months after launch. Meanwhile, the project reserves 3% of the tokens for future hires. Future hires will grow as the platform unlocks new features and brings in more use cases. 

The private sale will account for 14% of all the tokens. 2% of the total supply represents the team tokens, and the project will never sell these coins. The project will only pay the team in $BUSD reflections.

Roadmap Details

The first quarter of 2022, according to the roadmap, has already had a PinkSale presale, KYC, and Interfi audit. There has already been a Pancakeswap listing, CMC, and CG listing, all within a day of its launch. Meanwhile, its marketing campaign has just set off. In addition, we expect to see an NFT marketplace, $REFLEX staking pool, and dApp integration.

In the second quarter of 2022, there will be an NFT giveaway, team expansion, and a play-to-earn game launch. There will also be the wallet app launch, DEX listings, and voting.

In Q3 of 2022, Reflex Finance will give a sneak peek of the secret utility that they believe will disrupt the crypto space for the better. There will also be more exchange listings and $REFLEX merchandise. 

Towards the end of the year, in Q4, there will be a $REFLEX exchange, team expansion, and Reflex influencer marketplace.

About Reflex Finance

Reflex Finance is a cutting-edge liquidity generation and staking platform that allows you to earn consistent passive income. The project included an anti-whale mechanism to safeguard smaller investors. According to the team, the project aims to develop different income streams and new possibilities for the community.

Website: https://reflexfinance.net/ 

Telegram: https://t.me/reflexfinanceOfficial 

Twitter: https://twitter.com/Reflex_Finance 

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

YouTube: https://m.youtube.com/channel/UCIcGozPp0vTrLbtc83AgzFg 

Discord: https://discord.gg/reflexfinance 

Reddit: https://www.reddit.com/r/ReflexFinance/

Russia sets out to treat cryptocurrency as a form of currency after the government and central bank reached an agreement on digital asset regulation. Russian newspaper Kommersant reports that the authorities will prepare a draft law on the circulation of digital currencies in the Russian Federation before February 18.  As per the latest move, cryptocurrencies […]

The post Russian Govt To Recognize Bitcoin As Currency appeared first on CryptoCoin.News.

The cops say they've recovered 80% of a $72 million cryptocoin heist... but the recovered funds alone are now worth over $4 billion!

Nas Daily featured Axie Infinity content creator Kookoo Crypto in their crypto week special.

The post Nas Daily Features Kookoo Crypto TV’s Crypto Journey appeared first on BitPinas.