The Proof-of-Stake (PoS) consensus mechanism has emerged as the most viable solution to Bitcoin and Ethereum’s energy problem. The world’s two most popular blockchains have long been criticized for their enormous power consumption, with one recent study from U.K. financial site MoneySuperMarket estimating that each Bitcoin transaction costs in excess of $100 in terms of [...]

The post How Proof-of-Stake Is Playing A Critical Role In The Blockchain Ecosystem appeared first on Blockonomi.

Cardano soars as Coinbase added the staking rewards for the coin, and ADA is up by 13% on the day as we are reading further in today’s latest Cardano ADA news. The price of ADA as the native cryptocurrency of the blockchain of Cardano soars to a seven-week high of $1.13 which is a level […]

Two crypto giants are partnering for a tactical initiative of launching a new cryptocurrency. CoinShares is the largest investment-firms in

The post has appeared first on thenewscrypto.com

Coinbase says the exchange has additional "plans to continue to scale our staking portfolio" throughout 2022.

By Rupmalini Sahu, Senior Product ManagerAt Coinbase, we’re focused on offering more ways for customers to earn crypto rewards. Today, we’re expanding our staking...

The Moonshoot Finance team is pleased to announce its auto-staking and auto-compounding protocol that offers the higher revenue.

While highlighting the benefits of the protocol, the developer team noted that it offers the following:

• Fastest and highest fixed APY of about 383,025.80%.
• Automatic staking and compounding in each user's wallet.
• 96 times rewards daily – every 15 minutes.
• Fully KYC on Interfi and Pinksale.
• No minting to a wallet.
• Multiple use cases such as games, NFT, exchange, Launchpad, and staking.

Moonshoot Features

1.     Moonshoot     Treasury

The Treasury supports the MIF whenever the $MST token's price drops drastically. It also funds new Moonshoot projects, investments, and markets Moonshoot projects.

2.     Moonshoot     Insurance Fund

The MIF is the project's insurance fund that supports its long-term sustainability and price stability. To achieve this goal, it maintains a 0.02355% rebase rate that is paid to all $MST token holders.

The team explained what it intends to achieve with the MIF. According to the team, it was set up to prevent flash crashes through price stability, reducing downside risk greatly, and achieving the Moonshoot Protocol's future growth and long-term stability, among other things.

Towards this end, “5% of all trading fees are stored in the Moonshoot Insurance Fund which helps sustain and back the staking rewards provided by the positive rebase.”

3.     The     Fire Pit

The Fire Pit is where 2.5% of all traded $MST is burned. The amount of burned tokens is determined by the trading volume. The Fire Pit grows in size according to the volume; thereby reducing the token's circulating supply while stabilizing the Moonshoot Protocol.

4.     Moonshoot     Auto-Liquidity Engine (MALE)

The Moonshoot Auto-Liquidity Engine is designed to “inject automatic liquidity into the market.” Each buy or sell transaction attracts a 4% tax fee that is automatically stored into an Auto-LP wallet. The protocol's smart contract contains a mechanism that takes half of the wallet's balance and buys BNB automatically at the current price market.

The other half of the wallet balance will be used for liquidity and therefore give a 50.50 BNB/Moonshoot that will be “automatically added as new, additional liquidity into the market pair and raising the amount of liquidity in the pool.”

MALE does this every 48 hours and thereby allow $MST token holders to sell their assets at their convenience with little or no market slippage. That's also a brilliant way to maintain protocol stability and ensure that the APY is upheld throughout the Moonshoot's lifespan.

How to buy the $MST token

To purchase the $MST token, click the link below:

https://app.bogged.finance/bsc/swap?tokenIn=BNB&tokenOut=0x1168aD5AA9A6A2D6c688E714B7a3e0C8535C6182

Moonshoot Contract: 0x1168aD5AA9A6A2D6c688E714B7a3e0C8535C6182

Audit: https://github.com/AuditRateTech/Smart-Contract-Audits/blob/main/Moon_Shoot_0x1168aD5AA9A6A2D6c688E714B7a3e0C8535C6182.pdf

Social Media

Twitter: https://twitter.com/MoonshootFnance

Facebook: https://www.facebook.com/MoonshootFinance-110327348284625

Telegram: https://t.me/moonshoot_finance

Company Name: Moonshoot

Email: [email protected]

Website: https://www.moonshoot.finance/ 

 

Europe’s largest digital asset investment firm CoinShares has announced a partnership with leading cryptocurrency exchange FTX Global to launch the world’s physically-backed exchange-traded product (ETP) for Solana (SOL). Designed to share the staking rewards in a transparent way, the physically settled Solana ETP will launch with 1 million SOL worth $91 million (at the time of writing) in assets under management (AUM). The staking rewards for the Solana product have been set at 3% per annum while the management fee is reduced to 0% yearly. “CoinShares has a proven track record of providing European investors with innovative and regulated crypto-asset investment vehicles for close to a decade, making them the obvious choice to collaborate with for institutional offerings. We’re excited to work alongside CoinShares to give investors access to the Solana ecosystem and we look forward to collaborating further on additional offerings,” said Sam Bankman-Fried, FTX CEO. [1/5] We are excited to announce that we've partnered with @FTX_Official and our first initiative is to launch a physically staked Solana ETP with SOL1mn seed capital, Staking Rewards of 3.0% p.a, and a reduced management fee of 0.0% p.a. pic.twitter.com/dCq5H2CH1c — CoinShares 👩‍🚀 (@CoinSharesCo) March 23, 2022 Bridging the Gap Between TradFi and Crypto The collaboration with FTX continues CoinShares mission of bridging the gap between traditional finance and digital assets in a secured, transparent and familiar manner. CoinShares FTX Physical Staked Solana will be listed on Germany’s main market Xetra. With the new product, the company has now officially launched four ETPs this year.

The post CoinShares Partners With FTX to Launch the World’s First Solana ETP appeared first on Cryptoknowmics-Crypto News and Media Platform.

Cryptocurrencies have grown over the past time to reach new heights and a market capitalization that cannot be ignored. Consequently, more people have joined in the hype, ranging from developers, investors, and founders of various crypto-based projects. Over time, more use cases for crypto come up to sustain their growth and lead the world to the next finance phase. Among them, staking has grown and become common over the past year as Proof-of-Stake rose.  Staking is a way of rewarding participants in the blockchain system. Through staking, users assist in validating transactions in the blockchain hence minting additional coins through the digital assets they own.  Stakers, on the other hand, face an unclear tax regulatory landscape in terms of taxation of their activity on PoS platforms. Since the IRS has not issued clear guidance on staking rewards, taxation has been contentious for many years. Since the IRS did not provide this guidance, many taxpayers opted to report income when they received rewards. Crypto Staking on Blockchain PoS networks are decentralized, so they do not have a central authority to oversee transactions. To ensure that transactions are conducted properly, they rely on a consensus mechanism that enables participants to verify transactions. Notably, validators provide the consensus of the PoS system. To become a validator, users must submit a transaction to the network. The network will randomly select validators based on their percentage of crypto assets. Those not chosen will attest to the validity of transactions contained within the block proposed by the chosen validator. Validators are rewarded for creating new blocks and performing good faith transactions. If they fail to do so, they risk losing their crypto assets. Validators who implement this approach add new blocks to the blockchain, which keeps the network’s integrity intact. Taxation Efforts Through Notice 2014-21 Currently, no financial regulator has enacted any tax guidance on cryptocurrency staking. However, the IRS Notice 2014-21 states that any taxpayer engaging in “mining” virtual currency is liable to ordinary income tax on the additional virtual currency obtained from such operations. Mining, in this case, is the process by which blockchain is verified by proof of work. It entails solving mathematical computations through computers. On the other hand, the Revenue Ruling 2019-24 states that an “airdrop” of new crypto after a hard fork results in income. However, there is a condition that taxpayers should have total dominion over the cryptocurrency at the time of the airdrop. In light of the Service’s position in the Notice, a more conservative place would define stakers recognizing gross ordinary income upon receiving reward tokens. Despite the differences between mining and staking, both involve creating and validating blocks on a network. To this end, it would be more appropriate to view the “staking” of crypto assets as a process of entry into the crypto community rather than an investment instrument with a capital return. Deductibility of Expenses Another factor to examine is the deductibility of staking-related expenditures. In the lack of specific IRS guidance, the answer appears to be whether a taxpayer’s staking operations qualify as a trade or business. If the activities are related to a trade or a business, these expenses should be deductible. Generally, a taxpayer should only consider the time and effort involved in carrying out the activities. However, if the IRS considers the activities a hobby, these expenses are not deductible. Likewise, if the taxpayer engages in investment activities, these expenses are not deductible. The Jarrett v. U.S. Case Sheds More Light Another milestone in taxation in crypto is the Jarrett v. U.S. case. Joshua Jarrett staked his existing Tezos tokens on the Tezos public blockchain in 2019, whereby he contributed to creating new blocks. He made a total of 8,876 Tezos tokens due to Jarrett’s staking rewards. The value of Jarrett and Jessica’s staking rewards was reported as ordinary income on their 2019 joint federal income tax returns, and they paid taxes accordingly. In July 2020, the couple filed an amended tax return claiming that their rewards were not taxed. The IRS did not respond to their request for a $3,793 refund. This move prompted the pair to sue for a refund in 2021. The U.S. Department of Justice told the Jarretts that the IRS would refund the amount with interest. However, they rejected the offer due to the agency’s failure to provide a reason for the refund. The trial in the case has been scheduled for March 2023. However, in February 2022, the government indicated that it would ask the judge to dismiss it because it was moot. Not so Good News? The IRS’s refund offer has raised concerns about the taxation of certain types of rewards. First, the IRS’s decision not to pursue a case involving staking rewards suggests that the agency believes that these are taxable. Hence, getting a better case elsewhere.  The … Continued

The post The Tale of Cryptocurrency Staking and Taxation In the Eyes of Financial Regulators appeared first on Cryptoknowmics-Crypto News and Media Platform.

The Tresor Finance Project ($TRESOR) launches in pancakeswap offering one of the highest paying DeFi yield of 382,945% APY.

The team that created the Tresor Finance believes blockchain could be used to better mean of revenue.

Key features of Tresor

Tresor Insurance Fund (TIF)

5% of all trading fees are stored in the Tresor Insurance Fund which helps sustain and back the staking rewards by maintaining price stability and greatly reducing pitfall risk.

Automatic Staking 

Staking made easy with the $TRESOR tokens always staying in the wallet of the user and it is not dependent on 3rd party or centralized authority. Simply buy & hold as you automatically receive rewards in your own wallet so there are no more complicated staking processes at all.

Interest Yield - Automatic Payments

Interest yield is paid automatically and compounded in your wallet through the protocol, guaranteeing you will never miss a payment by simply holding $TRESOR.

Biggest Fixed APY

Tresor provides a fixed APY of 382,945.41% in the first 12 months which is not possible in DeFi in early stages of crypto.

Rapid Interest Payments

The Tresor Protocol pays every Tresor Token holder each and every 15 minutes or 96 times each day, making it the fastest auto-compounding protocol in crypto.

Hyper-Deflationary Token

One of the best features of the Tresor Protocol is an automatic token burn system called “The Tresor Flame” which prevents circulating supply getting out of hand and becoming unmanageable. The Tresor Flame burns 2.5% out of all Tresor Token market sales.

Social Media:

Telegram: https://t.me/tresorfinance_portal

Twitter: https://twitter.com/TresorFinance

Reddit: https://www.reddit.com/user/TresorFinance

Github: https://github.com/TresorFinance

Media Details:

Company Name: Tresor Finance

Email: [email protected]

 Website: https://www.tresor-finance.com/

In the past few years, DeFi applications have seen tremendous growth. At the start of the year 2021, the Total value locked (TVL) in DeFi applications was used to be around 18 billion dollars. Currently, TVL in DeFi applications is around 200 billion dollars, which is more than 10x of the TVL of January 2021. Total unique DeFi wallets are 4.3 million right now, more than 4x the unique DeFi wallets of January 2021.  Various DeFi applications provide financial services like lending & borrowing, trading, prediction markets, yield farming, etc. Still, there are only a few million DeFi users, and the Anchor protocol of Terra Ecosystem wants to change it. Team of Anchor Protocol believes that a saving product is required for the mass adoption of DeFi applications.  Anchor is a saving protocol that offers low-volatile yields on deposits of Terra Stablecoins. The Anchor interest rate is powered by staking rewards from Proof of Stake blockchains, and therefore more stable rates can be expected. Anchor Protocol makes a money market between a lender and a borrower.  Lenders can earn stable yields by depositing their Stablecoins while borrowers can borrow stablecoins on their stakeable assets. According to the protocol-defined borrowing ratio, borrowers can lock their bonded assets (bAssets) as collateral and borrow stablecoins. Currently, Bonded Luna (bluna) and Bonded ETH(bETH) are the only two bonded assets that can be put as collateral for borrowing stablecoins.  The stream of staking rewards comes from borrowers’ global pool of collateral. These staking rewards are converted into stablecoin, which are given to the lenders in stable yield.  Tokenomics of Anchor Anchor Protocol’s governance token is the Anchor Token (ANC). Users who have staked ANC tokens can propose new governance polls, which can be voted on by users who have staked ANC tokens.  ANC token is designed to increase its value linearly with Anchor’s assets under management, allowing it to capture a piece of the protocol’s yield. Anchor provides protocol fees to ANC stakeholders proportionally to their stake, benefiting stakeholders as adoption of Anchor grows. ANC stakeholders are driven to suggest, discuss, and vote for proposals that improve the protocol. ANC Value Accrual The buying pressure increases proportionally as ANC tokens grow in lockstep with Anchor’s Assets Under Management. Protocol fees are used to buy ANC tokens from Terraswap, which are then paid to ANC stakers as staking rewards.  Protocol Fees  ANC captures protocol fees created by Anchor, with 10% of the value flowing into the yield reserve being used for the value accrual of ANC tokens. bAsset rewards, excess yield, and collateral liquidation costs are used to fund Anchor’s protocol fees. basset rewards A portion of the rewards from deposited bAsset collaterals is used to buy ANC, with the rest going into the yield reserve. If the yield reserve’s inventory reaches a sufficient amount, governance can modify the ratio of bAsset rewards utilised for ANC purchases. Excess Yield Deposit rates higher than the target deposit rate are stored in the yield reserve, with a portion of it utilised to purchase ANC. The ANC tokens that have been purchased are subsequently given to ANC stakers. Collateral Liquidation Fees When a loan is liquidated, 1% of the liquidated collateral value is sent to the yield reserve, with a portion going into ANC purchases. This cost is not included in the bid premiums. Governance Fees ANC token deposits of Anchor governance polls that have failed to attain the needed quorum are then allocated to ANC stakers as staking rewards.   At the start of the Anchor Protocol, 150 million ANC tokens were released. Fifty million (33.3 percent) tokens were airdropped to LUNA stakers, with staked amounts snapshotted at block 2179600.  One hundred million tokens (66.7 percent) were set aside for the Anchor Community Fund. Final Token Distribution A total of 1,000,000,000 ANC tokens will be distributed over four years. No more new ANC tokens will be added to the supply once this quantity has been distributed. Various methods to earn money with Anchor:  Depositing UST is a simple way to earn money with Anchor. The protocol project itself as a savings product and provides a 20% annual percentage yield (APY) on deposit.  Users can borrow UST by putting their bAssets, i.e. Bonded Luna (bluna) and Bonded ETH(bETH), up as collateral.  Users can also buy and stake ANC to receive staking rewards and participate in governance.  You can also earn rewards while at the same time providing liquidity to exchanges by staking your LP tokens (ANC-UST LP). Conclusion Anchor is the leading DeFi protocol of Terra Ecosystem. Currently, 13 billion dollars worth of assets is deposited in the protocol. Its goal is to become a stable saving solution for DeFi users, providing passive income. Anchor has an easy to use interface, which will be helpful in onboarding millions of … Continued

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Crypto staking has become one of the best ways for investors to earn passive income. You simply stake your coins, and in return, you get [...]

Welcome, Cryptonauts. It looks like It’s everybody’s favourite time of year again: Tax season. 🥳 🙄 It is no secret that tax reporting can be complex, especially for crypto holders, as trying to navigate the constantly changing crypto tax landscape with a lack of a structured taxation framework is an administrative nightmare. Luckily, with the […]

The post The State of Cryptocurrency Tax Reporting in 2022: Report appeared first on Coin Bureau.