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Why The Real World Needs Decentralized Finance (DeFi)

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Why The Real World Needs Decentralized Finance (DeFi)

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There is a solid reason to bridge the gap between real-world assets and decentralized finance. Unlocking access to new services and products will introduce broader financial equality and inclusion. Moreover, DeFi needs more liquidity to captivate a mainstream audience not involved in cryptocurrencies as of yet.

The Current State of DeFi

While decentralized finance has proven to be an appealing industry, it primarily caters to people who own or are interested in cryptocurrencies. As mainstream adoption of Bitcoin, Ethereum, and other crypto-assets remains lackluster, many people currently can’t access these new financial products and services. That is an unfortunate development that developers can resolve by broadening the list of supported assets. Rather than creating crypto-only assets, there are other sources of liquidity that protocols can tap into. 

Bringing real-world assets into the DeFi fold can usher in some new cases. Moreover, it would provide unbanked and underbanked individuals with an avenue to alternative financial products and services. However, although some projects support the tokenization of real-world assets for DeFi purposes, they have yet to make a meaningful impact. Therefore, a different approach may be necessary. A more business-oriented solution can bring decentralized finance to the masses. 

In its current state, DeFi has attracted over $165 billion in Total Value Locked. There are booming ecosystems across Ethereum, Tron, Binance Smart Chain, Solana, and various other blockchains. Those efforts are commendable, but they are not getting the everyday person on the street too excited. The demand for real-world assets in DeFi becomes more outspoken as time progresses. Service providers capable of bringing real-world assets to this industry conveniently are likely to gain a competitive edge.

The introduction of real-world assets can unlock new opportunities. Businesses could borrow against real-world assets or secure funding through other means. The possibilities are virtually limitless, but only if the service and product are convenient to use for everybody. Decentralized finance can support any asset type, whether artwork or music royalties to real estate and trade invoices. Unlocking the industry’s full potential is a must, and it needs to happen sooner rather than later.

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The Role Of Centrifuge

Bringing real-world assets to decentralized finance is not a new concept. However, as several providers explore this option, the quest for market dominance becomes more outspoken. Centrifuge may hold the answers to most questions, as it bridges invoices, real estate, and royalties to decentralized finance. Their approach mainly aims to help SMEs bring down the cost of capital while offering DeFi investors a stable source of yield free from crypto-asset price volatility. 

The current financial landscape is skewed and broken. Large businesses can gain access to liquid capital markets, whereas others need to rely on banks for capital. As the system lacks openness and transparency, smaller companies often face a steep uphill battle to acquire competitive interest rates. Centrifuge wants to change that narrative by letting SMEs finance real-world assets without intermediaries. Everyone and anyone can provide liquidity, with investors receiving a return and Centrifuge Token rewards.

For investors, access to Centrifuge’s solution occurs through the Tinlake decentralized application (Dapp). It is an open marketplace of real-world asset pools used by Asset Originators and investors. The core feature of Tinlake is on-chain borrowing against collateralized assets through smart contracts and without human intermediaries. As a result, asset Originators can access growing DeFi liquidity, and stablecoin issuers can provide a stable store of value through these collateralized asset pools. 

More importantly, these asset pools allow users to invest immediately. Every user can learn more about the pools and find the one that suits their needs the best. After completing a Know Your Customer process and signing of subdocs for the individual pools, investors occur through the DAI stablecoin. All investments can be monitored through a convenient dashboard, making access and control available at the click of a button.

Leveraging NFT Technology

The vision by Centifugre is made possible through privacy-enabled non-fungible tokens (NFTs). Every NFT represents a tokenized individual asset, keeping certain attributes private while ownership is tracked through the Centrifuge Chain. Users can create, exchange, and verify asset data and exchange data off-chain. Asset Originators can share only the necessary asset information to acquire pricing and underwriting while keeping the rest private.

Every NFT-based real-world asset – including real estate, real-world loans, and outstanding invoices – can serve as collateral through Tinlake. Centrifuge provides a convenient gateway for real-world assets to enter the DeFi ecosystem while maintaining real-world use cases. Asset financing will evolve into a bankless approach and liquidity for assets that may otherwise remain illiquid. Centrifuge is the bridge between real-world assets and DeFi, resulting in more liquidity than before and new use cases. 

Closing Thoughts

The approach by Centrifuge has proven successful, as the protocol manages nearly $20 million in TVL. Moreover, that amount keeps doubling every month, confirming the demand for bringing real-world assets into DeF. With almost a dozen live pools and hundreds of individual investors using Centrifuge, things are off to a good start. 

The underpinning technology  – Centrifuge runs on Polkadot – ensures fast transactions and low fees. In addition, Tinlake accesses the Ethereum liquidity, creating a two-pronged approach. A crucial step toward improving global financial inclusion and access to products and services.

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Source: https://zycrypto.com/why-the-real-world-needs-decentralized-finance-defi/

Blockchain

Events dApps are Bettering: Intuitive, Convenient and Transparent

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Blockchain technology has been taking the events management industry by storm.

The COVID-19 pandemic led many to reflect on the failings of traditional, centralized ticketing and event platforms. These tools often feature low security, difficult user experiences, and high hidden fees.

Blockchain continues to interest many event managers and promoters. The technology offers the opportunity to digitally manage events and payments without a central administrator, all while eliminating ticket duplication, fake tickets, and bots. Blockchain also can be harnessed to allow for event details to be managed and shared in a uniform and transparent manner.

A greater interest in a decentralized approach to managing events and attendees has led to the rise of several decentralized applications (dApps) with a focus on ticketing and events management.

Blockchain-Based Event dApps Transforming Traditional Models

Phoenix DAO’s Events Marketplace is one dApp making waves due to a dedicated and focused team who have been hard at work optimizing the platform.

The Eventbrite-style dApp empowers users to host events or buy, sell, and exchange tickets thanks to the power of blockchain. Phoenix’s unique Identity protocol ensures decentralization and trustworthiness while permanently tying tickets to a particular user no matter where they go. All Event dApp users rely on the native $PHNX token for payment, but the PhoenixDAO team plans on offering more cryptocurrencies and on-ramp methods. Hopes are expansion will encourage user growth and open up more revenue streams.

Phoenix Authentication helps verify logins and approve ticket transactions to eliminate bots and bulk purchasing. The entire Event dApp is multi-chain offering both Ethereum and Polygon’s sidechain solution, offering Layer2 solution instead of only Ethereum. A recent developer update includes multi-chain support, giving dApp users the opportunity to host events on either the Ethereum or Polygon networks, based on their preferences, to foster advanced cross-chain interoperability.

Additional updates promoting convenience and transparency include a new affiliate partnership with Travala.com, opening up PhoenixDAO Events dApp users to connect with one of the leading global crypto-friendly travel booking platforms boasting more than 2,000,000 properties in 230 nations. A second partnership with Transak provides fiat onramp services and fiat-to-crypto deposits and withdrawals. The PhoenixDAO team hopes future Transak support of the native $PHNX token will allow for the purchase of $PHNX with a credit or debit card.

Emphasizing A Hassle-Free Experience

A follow-up developer update in mid-October further enhanced the user experience and functionality based on requests and comments from Events dApp users.

As blockchain-based event dApps continue to become more intuitive, convenient to use, and transparent, many speculate the technology could forever transform the events and ticketing industry.

Contactless ticket sales and management remain a big benefit to busy events managers trying to reduce attendee/event staff interaction to ensure optimal hygiene standards for in-person activities in ‘the new normal.’ The ease of creating and promoting events on blockchain-based solutions like PhoenixDAO’s Events dApp is of particular benefit to event managers and planners who might have limited budgets and are uninterested in paying hefty fees to rely on traditional platforms.

The PhoenixDAO team characterizes their consistent work optimizing and enhancing the Events dApp as “a series until everyone is able to use the dApp hassle-free.” PhoenixDAO continues to lead the way in ushering in blockchain technology to the events and ticketing industry to provide a superior experience for both event managers and attendees.

PhoenixDAO has always been proactive in establishing new opportunities to connect and give back to the community. To that end, PhoenixDAO is hosting an event where the latest member of the team to join will be live streaming and participants stand a chance to win a $1000 NFT.

 Product growth is key, update to the events marketplace, with a rare NFT from Zed Run, with a win rate of 14.4% and ROI of 26.3%.

To participate in the event, users can purchase the tickets from Events dApp using a crypto wallet. To purchase a ticket for the event, users must hold $PHNX tokens on Polygon. Users holding $PHNX tokens on Ethereum wallets can move it to Polygon using the Matic Bridge if need be or purchase $PHNX from Quickswap.io.

About PhoenixDAO

PhoenixDAO is a revolutionary decentralized environment that has curated a list of flagship dApps, all designed to create a more rewarding and accommodating environment for the crypto community. PhoenixDAO is powered by The DAO (governance system), Staking dApp, Events dApp and the dApp store.

PhoenixDAO is an autonomous project with unique protocols (Identity management, authentication, payment, and tokenization protocols), which helps create a secure and safe decentralized space.

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Source: https://www.newsbtc.com/news/company/events-dapps-are-bettering-intuitive-convenient-and-transparent/

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TA: Ethereum Could Follow Bitcoin, Why ETH Could Rally To $4K

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Ethereum is consolidating above the $3,800 support zone against the US Dollar. ETH must clear the $3,900 and $3,950 resistance levels to continue higher in the near term.

  • Ethereum started a fresh increase above the $3,800 and $3,820 resistance levels.
  • The price is now trading above $3,800 and the 100 hourly simple moving average.
  • There was a break above a key contracting triangle forming with resistance near $3,820 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could start a fresh rally if it clears the key $3,900 resistance zone.

Ethereum Price Eyes Upside Break

Ethereum started a fresh increase above the $3,750 resistance zone. ETH gained pace after it broke the $3,800 resistance zone and the 100 hourly simple moving average.

There was also a break above a key contracting triangle forming with resistance near $3,820 on the hourly chart of ETH/USD. The pair even spiked above $3,880, but there was no upside continuation above $3,920. A high was formed near $3,900 and it is now consolidating gains.

There was a break below the $3,850 level. Ether price traded below the 23.6% Fib retracement level of the upward move from the $3,742 swing low to $3,900 high.

It is now trading above $3,800 and the 100 hourly simple moving average. An immediate resistance on the upside is near the $3,880 level. The next major resistance is near the $3,900 level, above which the price might start a fresh rally.

Ethereum Price

Source: ETHUSD on TradingView.com

The next key resistance is near the $3,920 level. Any more gains could increase the chances of a move above the $4,000 level. In the stated case, the price might rise towards the $4,120 level.

Dips Limited in ETH?

If ethereum fails to continue higher above the $3,880 and $3,900 resistance levels, it could start a fresh downside correction. An initial support on the downside is near the $3,820 level.

The 50% Fib retracement level of the upward move from the $3,742 swing low to $3,900 high is also near the $3,820 level. Any more downsides could lead the price towards the $3,780 support and the 100 hourly SMA. The next key support is near $3,750.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is losing pace in the bullish zone.

Hourly RSIThe RSI for ETH/USD is now above the 50 level.

Major Support Level – $3,820

Major Resistance Level – $3,900

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Source: https://www.newsbtc.com/analysis/eth/ethereum-could-follow-bitcoin-4k/

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ADALend Makes It On “The Essential Cardano List” By IOHK

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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.

“The Essential Cardano List” gives an overview of the Cardano ecosystem with an accompanying map, a central library of materials, Cardano Foundation, and Emurgo resources, as well as community-generated materials and a list of current stake pools.

ADALend’s inclusion in the list marks a milestone for the project and its plans to broadcast consumer awareness for the project and its features.

About IOHK

Input-Output Hong Kong (IOHK) is a technology firm dedicated to employing peer-to-peer innovations to bring financial services to the world’s three billion unbanked individuals. They are a software development firm that creates cryptocurrencies and blockchains for academic institutions, government agencies, and businesses. IOHK is considered one of the world’s leading blockchain infrastructure research and engineering firms, founded in 2015 by Charles Hoskinson and Jeremy Wood. The company is an entirely decentralized organization dedicated to academic rigor and evidence-based software development. The business creates high-assurance blockchain infrastructure solutions. It’s also the brains behind Cardano.

About ADALend

ADALend is a decentralized lending protocol governed by the Cardano system. Within this Cardano system, ADALend will influence the flexibility of digital finance markets by providing a basis for immediate access to loans and collaterals, resulting in sustained liquidity of the blockchain assets of the lender.

The ADALend protocol will power the new wave of flexible financial services to the digital asset markets.

Key Features of ADALend

  • Permissionless Lending on Any Pairing: Our governance will ensure that the best offers are available and that only the safest oracles are used. We guarantee trustworthy options for utilization by our clients. To achieve this feat, secure authorization channels are used, limiting the need for permission on pairing.
  • Incentivised Liquidity: Liquidity is predicated on having enough assets in each pool to facilitate lending. ADALend addresses this requirement by incentivizing users to deposit assets and provide liquidity.
  • Community Governance: Token holders can establish consensus by voting on governance proposals or introducing new proposals for a vote.
  • Ecosystem Foundation Layer: The ADALend project has the ability to attract assets and build incentives that can empower an ecosystem of financial products.

Benefits Of Using Cardano

  1. Lower Transaction & Contract Fees
  2. Higher Transaction Speeds
  3. Better Code Security & Robustness
  4. Uses Multiple Oracles
  5. Environment-Friendly

To find out more about ADALend, visit the website.

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Source: https://www.newsbtc.com/news/company/adalend-makes-it-on-the-essential-cardano-list-by-iohk/

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