Track market-moving stories before they get noisy

Bitget has completed dividend distributions for 63 stocks including Micron Technology and TSMC.

According to an official announcement, Bitget has completed the dividend distribution for 63 US stocks and ETFs, including rMU (Micron Technology), rQQQ (Nasdaq 100 Index ETF), and rTSM (Taiwan Semiconductor Manufacturing Company, TSMC). The platform has settled USDT dividends proportionally for users who held the relevant assets at the snapshot time, with the entire process automated—no user action is required. This distribution covers multiple asset categories including technology, semiconductors, communications, and index ETFs. Users can check specific details via: in the App, navigate to "Assets" → "Financial Records" → "Spot" → "Other" → "Dividends"; or on the Web, go to "Asset Overview" → "Spot Orders" → "Fund Flow" → "Other" → "Dividends". The final credited amount and timing shall be subject to the platform’s actual credit and page display.

2 minutes ago

Ethereum breaks through $1,900

According to HTX market data, Ethereum has broken through the $1900 level, with a 0.92% decline in the past 24 hours.

2 minutes ago

Analyst: If ETH holds the $1,850 support level, it may rebound to $2,060.

Crypto analyst Ali Charts posted that Ethereum rebounded after testing the lower boundary of its price channel. The current key support level stands at $1,850; as long as this level holds, Ethereum could rally back toward the channel’s upper boundary, around $2,060.

2 minutes ago

CXMT is 3 days away from its IPO, as newly opened whale positions partially cut their CXMT long positions.

According to Hyperinsight monitoring, CXMT on Hyperliquid is currently trading at $6.4658, down roughly 0.8% over 24 hours, equivalent to ~￥43.93. This is 5.07 times the ￥8.66 IPO price of Changxin Technology, representing a ~407% premium. Changxin Technology is set to list on the STAR Market on July 27 (next Monday), with stock code 688825. Its total post-IPO share count is ~668.81 billion, of which ~45.03 billion shares will be tradable from the first day of listing. Calculated at CXMT’s current price, its implied market cap is ~￥2.94 trillion, ~￥2.36 trillion higher than the IPO valuation of ￥579.188 billion. CXMT futures launched on July 15, hitting a high of $8.64 (~￥58.70) from $6 on its first day, at one point trading at a 577.8% premium to the IPO price, with its implied market cap once approaching ￥3.93 trillion. The current price has fallen 25.2% from that peak, but remains 7.8% higher than its launch price. Open interest for CXMT on the platform stands at ~$50.1 million, with 24-hour trading volume of ~$11.566 million. On the address front, the largest existing position is held by address 0xf29, which is short $8.53 million worth of CXMT at 1x leverage, with an average entry price of $6.6, unrealized profit of $170,000, and liquidation price of $15. Meanwhile, the largest recent million-dollar position (a whale address starting with 0x8e09) has started reducing its long positions; after 13:00 today, it sold a small portion of 30,000 units. As of press time, this address still holds 204,100 CXMT long positions in isolated mode at 5x leverage, with a position value of ~$1.19 million, average entry price of $6.57, unrealized loss of ~$17,000, and a return of ~-7.9%. Although this position is marked as 5x leverage, it has posted ~$1.196 million in isolated margin, resulting in an effective leverage of only ~1.1x; it is currently labeled "Hanba Xiaolong" on Hyperliquid.

2 minutes ago

Roundup of Stablecoin Demand Deposit Yields on Major CEXs: USDT Offers Up to 10% for Small-Tier Deposits, USDC Up to 8%

According to the latest compiled data on flexible savings and earn products of major centralized crypto exchanges (CEXs), platforms including HTX, Binance, OKX, and Bitget continue to offer stablecoin current yields structured as "high returns for small amounts, tiered reduction for excess amounts". For USDT: HTX’s 0-200 USDT tier has an annualized yield of 10%, dropping to 1.95% for amounts over 200 USDT; Bitget’s 0-300 USDT tier yields 6.25%, with excess amounts at 1.59%; Binance’s 0-200 USDT tier is 4.54%, excess at 1.54%; OKX’s is 1.63%. For USDC: HTX’s 0-200 USDC tier offers an annualized yield of 8%, falling to 2.75% above 200 USDC; Bitget’s 0-300 USDC tier is 6.66%, excess at 1.73%; Binance’s 0-200 USDC tier is 6.51%, excess at 1.51%; OKX’s is 1.68%. For other stablecoins: HTX’s USDT VIP tier has an annualized yield of 6%-9%, while Bitget’s USDT VIP 0-300,000 tier is 1.88%; USDE’s annualized yields on HTX, Binance, and Bitget are tiered at 5%/3%, 4.00%, and 1.81% respectively; HTX’s USDD is 4.00%; Binance’s U product has an annualized yield of 8.53% for the 0-10,000 tier, dropping to 0.53% for excess amounts. Overall, current high yields on stablecoin flexible savings products of major CEXs remain concentrated in small amounts, with yields generally lower for large sums. When comparing related products, users should not only consider the nominal annualized yield, but also note tier limits, interest calculation rules, supported currencies, and real-time product availability. The above data is displayed yield rates and does not constitute investment advice.

2 minutes ago

South Korea’s Mirae Asset Group has acquired a 97.15% stake in Korbit, and plans to develop it into a smart investment platform.

South Korea’s Mirae Asset Group has completed the acquisition of a 97.15% stake in Korbit, a veteran South Korean cryptocurrency exchange, and plans to rebrand the platform as Digital X. The deal was finalized after securing approval from South Korea’s Fair Trade Commission, and the group currently has no plans to acquire the remaining shares. Mirae Asset stated that Digital X will be positioned as a "smart investment platform" that integrates real-world assets (RWA), security token offerings (STOs), stablecoins, traditional assets, and digital assets into a unified investment ecosystem, while connecting knowledge, information, and in-depth investment research. The "X" in the name represents the unknown future and infinite possibilities arising from the convergence of different value forms. Korbit currently holds less than 1% of South Korea’s domestic crypto market share, far trailing Upbit and Bithumb. Mirae Asset emphasized that its goal is not to outperform other exchanges, but to combine its global investment expertise with Korbit’s digital asset capabilities to drive the steady, sustainable development of the digital asset industry in South Korea and globally. The group also plans to strengthen investor education, research capabilities, and institutional-grade infrastructure, while strictly adhering to anti-money laundering (AML), know-your-customer (KYC), and fraud detection standards across all operations to serve both institutional clients and retail traders.

2 minutes ago

Binance Records ‘Highest Buy Flows' in Altcoins; Is Alt-Season Kickoff Coming?

Is Web3’s Next Boom Coming from Africa, LATAM, and Asia? Lisk Bets $15 Million on It

Experts Dismantle Standard Chartered’s $1 Trillion Stablecoin Warning for Emerging Markets

LSK: Lisk EMpower Spotlight: How lov.cash Is Digitizing South Africa's Informal Economy

Lisk (LSK) Token Price Soars 62%: Factors Driving the Surge

LSK: Inside the Lisk DAO: Supporting Builders and Scaling Real-World Adoption

Institutions Aren’t Buying Crypto, They’re Buying the Rails

Bitcoin Turns Green Weekly as 23-Month Cycle Call Spreads—and Skeptics Push Back

Circle’s USDC Flips Tether as Companies Replace Bank Wires With Stablecoins

Data: Base and Solana account for 97% of AI agent-to-agent transaction share.

According to data compiled by Lisk's chief researcher Leon Waidmann on March 16, AI agent on-chain payment settlements are mainly concentrated on Base and Solana, with these two networks accounting for 97% of all agent-to-agent transactions. Specifically, Base accounts for 59% with 70.9 million transactions; Solana accounts for 38% with 45.3 million transactions; and all other networks account for only 3%, with 3.9 million transactions.

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Circle and Nomura Plan to Launch Stablecoin Settlement Service in Japan, Earliest Launch as Early as 2027

PANews Newsflash6 minutes ago

China’s Center for Information Industry Developed Research Institute’s monthly crypto rankings have always been viewed as an oddity, given that the CCID is controlled by the Ministry of Industry and Information Technology in a country notoriously scathing toward cryptocurrency.

But since President Xi Jinping’s recent address at the Politburo claiming that “We must take blockchain as an important breakthrough for independent innovation of core technologies. Clarify the main directions, increase investment, focus on a number of key technologies, and accelerate the development of blockchain and industrial innovation,” the rankings potentially warrant more respect. 

With the Chinese government announcing its intention to be at the epicenter of blockchain technology development, cryptocurrency markets went into overdrive, with Bitcoin seeing over 30 percent gains within ten hours.

Whether the Chinese government actually warms to the decentralized cryptocurrencies its citizens have long been enamored of remains to be seen. In the meantime, the news was widely viewed as a positive sign for the markets.

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Are the CCID Research Institute Rankings Suddenly Relevant Again? The newfound enthusiasm for blockchain in the CCP, also indicated in recent news of a pending state-run digital currency, drags the CCID’s rankings back into view. Its latest edition has just been released.

Assessed in terms of technology, applicability (capability of being applied to solve problems), and creativity (how unique the blockchain is in its approach to solving problems), EOS has consistently ranked first since the organization began publishing its rankings in May of 2018.

The 14th index shows some notable movements since its last report. TRON overtook Ethereum in second place, though only by the skin of its teeth. Lisk is up seven places to seventh and Qtum surged ten places to eighth. 

Ontology is down seven places to fourteenth and Cosmos fell twelve places, from tenth to 22nd. GXChain fell precipitously, falling out of the top five in favor of BitShares. The top five now reads EOS, TRON, Ethereum, NULS, BitShares.

NANO on the Rise NANO enjoyed a rise from 22 to 13, finding a place back in the spotlight it lost during the early 2018 BitGrail debacle, from which it has since struggled to recover. As reported recently by Crypto Briefing, NANO is playing a substantial role in the ecosystem of Softbank-backed payments processor Wirex, an FCA-licensed company based in the U.K. 

At a recent NANO meetup in London, Wirex’s CEO Pavel Matveev said the company was keen to continue its relationship with the crypto formerly known as RaiBlocks. A Wirex blog post also spared no compliments in describing Nano, calling it “a next-generation cryptocurrency with great potential.”

With an opaque ranking system, the CCID results will likely remain a curiosity for some time. However, the CCP’s apparent newfound fondness for blockchain technology means it is warranted for the community to put blatant skepticism over their rankings on hold for at least an interim period.

Disclosure: This article was edited by Paul de Havilland. For more information on how we create and review content, see our Editorial Policy.

In March, NewsBTC sat down with Max Kordek, the founder of Lisk, to pick his brain about his project, the broader crypto and blockchain industry, and the future of Bitcoin.

Related Reading: HTC Exec: Facebook Coin is like the Intranet, Bitcoin is like the Internet The Latest On Lisk NewsBTC: Thanks for sitting down with us. For those who don’t know Lisk, can you give us a 30 second to a one-minute explanation of your project in general?

Max Kordek: Lisk is a blockchain application platform with its own crypto asset, LSK. We aim to enable devs and entrepreneurs to create their own blockchain, which is fully independent and customizable to a large degree. The second step will be interoperability, so that these independent blockchains become sidechains, which then interact with the mainchain and each other, becoming an independent part of the bigger internal ecosystem of Lisk. Our tools are based on JavaScript which taps into a fast evolving programming language, rich developer base, and open source culture. We’ve also recently diversified a section of our code to TypeScript, which will support larger application building.

NewsBTC: Cool. So why did Lisk decide to go with DPoS instead of PoW? Were there centralization risks?

Max: My journey in blockchain first began with the purchase of a Litecoin miner in 2012. Back then, I was living in this very small student apartment in Germany, which was only about 20 square meters. The small space made the miner run super hot, and after two months I had enough. Through this experience, I’ve started to develop a dislike against the kind of inefficiency and this waste of electricity that Proof of Work systems create. I then began to look into alternatives to mining. I stumbled across NXT, then Peercoin, the first viable Proof of Stake coin in existence, which I fell in love with. It was amazing to have a server, which cost $10 to $20 a month to maintain and run the network from. I got really active in that community. Eventually, Peercoin fell apart, mainly because they failed to establish an organization to actually push the technology forward.

After Peercoin, I found Crypti, which provided that central business pushing the protocol forward. It was also the first organization where I discovered the Delegated Proof of Stake (DPoS). However, Crypti also had its own issues with a very small team and even lower levels of funding. I decided to create something new with my partner Oliver Beddows. From the get-go, we knew it shouldn’t have anything to do with PoW. That’s how Lisk and Lightcurve came about. There are many benefits of our form of DPoS, but one of the main ones is that it is beneficial to what we specifically are building. If you want to create a blockchain platform where people can just spin up their own chains, DPoS is much easier to kickstart and safer to maintain than normal PoS. If you rely only on pure PoS, it may not be very secure, so it’s better to have delegates you can trust.

Max Kordek Delegates on the Lisk network know the codebase and the network through and through. Many of them build open source solutions and products, spot bugs on our Testnet, or migrate to critical releases in an extremely timely manner! It depends on what use case you want to implement, but having a secure network is what most of our stakeholders can agree on. As to centralization risks, there is a degree of fluidity to our network with some individuals entering and falling out of the delegated 101. We’ve also recently opened up the Lisk Improvement Proposals where both Lightcurve and community authors can submit their own proposals for how to make our consensus algorithm even better.

NewsBTC: With DPoS, EOS enlists 21 delegates and Ark, 51 delegates. So how did you come with the 101 delegate number?

Max: Dan Larimer runs EOS. Before EOS he ran Steemit and Bitshares, which utilized 101 delegates. We took the same number, which both he and Charles Hoskinson used back in the day, because it is a good balance between centralization and decentralization. 21 delegates are too few. Sure, the network is high-performance, but 21 entities controlling the network could be dangerous. 500 or 1,000, on the other hand, is too much, as such a number of delegates would cause too many inefficiencies in the network. So to put it simply, for us 101 delegates sits right in the sweet spot of the number of nodes necessary to move our blockchain forward, while the odd number gets rid of the ties by ensuring there’s always a majority on the network.

NewsBTC: What’s your vision for Lisk Academy? Do you guys want to spark adoption through education?

Max: Even after the bull market of 2017, only a few people on the street know what Bitcoin is, let alone the underlying technology of blockchain. We need to educate those who have the power to interact with blockchain, whether its building or investing. Right now, it’s not even about Lisk, but just blockchain as a technology. The next step is accessibility, meaning that we should ramp down the complexity of the blockchain ecosystem to aid the user experience. Once you educate people and they have access to the ecosystem, then you onboard them onto projects like Lisk and our SDK.

This is why we don’t attend as many conferences as Token2049 anymore. It sounds a bit bad, but we don’t want to constantly be in this kind of a crypto bubble. We need people from outside of the industry to enter. But they won’t enter without education. We just need to have a go-to place for people to learn about blockchain and Lisk. We also provide educational marketing content and documentation for developers wanting to take the next step and experiment with our technology.

Kordek’s Thoughts On The Crypto Industry NewsBTC: So do you think that education is the one thing holding back crypto adoption right now?

Max: I think many things are holding it back currently. One is definitely education. If we just don’t know or understand what it is, we won’t adopt it. Right now we need builders, who harness this technology to come up with viable use cases. And they, of course, need to know how this technology works. My mother doesn’t need to know about blockchain. But my developer colleagues who actually have the power to build need to know the ins and outs of not only blockchain technology, but also blockchain building and everything else needed to get them coding.  Another problem is use cases. People still ask, ‘what can we really achieve with this technology?’ People have no clue yet. Building on Ethereum is tough right now, but it’s the best experience in the industry by far. It isn’t optimal, so we need much better tooling and use case inspiration for developers. That, in my opinion, is why adoption has been pretty much slow.

NewsBTC: What is your end vision for this ecosystem? Do you see a world where everything is based on these technologies?

Max: I don’t think that everything will be based on blockchain. Yesterday I was on a panel discussion covering a very interesting topic — Web 3.0. It was said that blockchain is one technological level above texting (Web 3.0 v.s. 2.0). The Internet as a whole still has Web 1.0 applications, including simple internet pages and so on. Those don’t go away. And why should they? We have Web 2.0 pages, like Facebook, Twitter, etc. They will not disappear because of blockchain. So not everything will be run on blockchain, but there are quite a few processes that can be optimized with this technology. I’m a strong advocate for sure, but I just don’t see it as the golden technology that will disrupt absolutely everything. Right now, we don’t even have one use case that has reached 100,000 daily active users. Facebook, on the other hand, has one billion active users. So in the end, I see a world where blockchain really helps people in very specific industries and solutions.

NewsBTC: So you’re saying that I guess there have been there’s been very little adoption right now, but what’s one application for one use case that you think has a lot of potential?

Max: Right now, we’re still heavy in the R&D regarding which use case will be most suitable for our technology. One industry we want to start off with is definitely gaming. That’s an obvious use case right there, given opportunities for tokenization and so forth. Governmental work like notarization or traveling documentation is a pain right now that could easily be improved by blockchain. These processes can be optimized with a digital identity system that automatically checks you and is stored on the blockchain for secure and cross-border access. There are many use cases out there. In the end, we are creating technology that is customizable and scalable enough to allow many of these to be explored.

NewsBTC: How has this bear market been compared to ones seen previously?

Max: The previous ones were much worse. Bitcoin went from like $1,000 to $150, and people were saying that you should pack your bags and say your goodbyes. At that time, there was no development happening. There weren’t these global conference chains with thousands of attendees. It was really dark on Reddit. And now, we’re potentially just coming out of another crypto winter, but there are 20 to 30 meetups happening in Hong Kong this week, even more across the world. If you go on our GitHub, subscribe to Crypto Twitter, or check out big crypto publications, you can see there’s a wide range of activity going on amongst the projects that survived this crash.

There’s so much that is happening. There’s seriously much more development than any other point in blockchain’s history. So for me, the ones before were much worse economics-wise, activity-wise, and sentiment-wise. The thing is, we are patient because we see a big future ahead of this technology. This is just part of normal market cycles. The companies are getting more serious, and the first iterations of products are beginning to pop up. For example, we’re about to release our Alpha SDK, the first version of our blockchain-building toolkit that will allow developers to create proof-of-concept applications aligned with our codebase.

NewsBTC: Do you think that the crypto market is oversaturated at the moment?

Max: Well, I made my own altcoin, so it’s very hard to comment on that one. What I think is that the market overall regulates itself, especially when it feels oversaturated. You see crypto assets that are dropping lower and lower on CMC, as they have no activity, no trading volume, and that’s totally fine by me. That’s a sign that it’s oversaturated. And I assume that is why projects are dying as the market stabilizes and matures. There’s still potential for thousands and thousands more crypto assets and projects around them. I just want to see projects with an actual use case and a true focus on development. In our case, Lisk will be used for registering a sidechain. In Ethereum’s case, it can be used for smart contract execution. But why do all these other apps need a token? Status, for example, a messenger project, doesn’t really need a token. I have not looked into it in-depth, but that raises a question mark. So yeah, I think it’s saturated, but it’s regulating itself in time and legitimate technology with a good business backing stays afloat.

NewsBTC: How has the Lisk team been doing in this market cycle?

Max: Lisk is always progressing at a sustainable pace. The technology is going forward as I mentioned before with the upcoming release of our Alpha SDK. Things on the business side are playing support to the constant development – we were lucky enough to have a professionalized financial team to help us diversify our holdings. This gave us a healthy balance of fiat and crypto, which resulted in extra stability throughout this bear market. We’re also continuing to grow our business and fostering a global developer community. Our community members actually started physical developer spaces across the globe, including the Netherlands, Japan, and China. There’s a lot of activity happening on GitHub and real life!

The Future Of Bitcoin  NewsBTC: How do you expect for the crypto market to play out over 2019?

Max: I really have no idea. It could go up or down. But right now, it seems to be stabilizing very slowly. Eventually, though, there could be another, let’s call it, wick lower. I assume personally that it will continue to go up towards the end of next year. In 1.5 years is the Bitcoin halving, so the market could go up because of that. But I don’t care really. It’s not only about the money.

NewsBTC: What do you see Bitcoin as? Is it an SoV, MoE, or anything else?

Max: I think of it mainly as a store of value with complete independence of any other market. That means you can just fill up your portfolio with 1% to 2% with it, and it can act as a secure investment next to gold. I also tend to see it as a means of exchange, I bought some stuff online with BTC recently. Yesterday, I went to the Lotus Bar in Hong Kong, which accepts Bitcoin. It’s a nice thing, but I’m not going to go there every time just to use BTC. So in end, it’s more of a store of value. It’s important to add that I also see it as a stepping stone for blockchain technology overall. It may not be the most scalable, but it’s inspiring. It may not be a world currency, but it should become a means of exchange in one way or another.

NewsBTC: What do you think of the whole JP Morgan Coin or FBCoin? Do you like what they bring to the table?

Max: I know many many people who hate Mark Zuckerberg in the industry, but it’s important to remember Facebook is a tech company at the end of the day. When your company grows as large as Facebook did, it’s hard to stay true to your original ethos. Many things can go wrong. And maybe Facebook had many things go wrong this year, but it isn’t the fault of Mark Zuckerberg alone. I still think Zuckerberg has the best things in mind. I see FBCoin as an interesting concept. I’m not too sure how scalable it will be, as WhatsApp or Facebook itself has billions of users. But why not? I think it will be pretty cool, no matter if it’s decentralized, centralized, etc. As long as it uses blockchain technology, that is exactly what we want and need. JP Morgan Coin, on the other hand, is something I hate. First, they say Bitcoin is a scam, then they were revealed to have participated in the Bitcoin market, and then they suddenly come up with their own coin. At the end of the day, JP Morgan isn’t a technology company, so they shouldn’t do that. This project is just for their monetary gain. They should stick with the old economy and do their crap there. They don’t really belong here.

NewsBTC: It’s my final question. Can crypto succeed without institutional involvement, like investments from those on Wall Street?

Max: Yeah definitely. I think people are more powerful than institutions. With blockchain and Bitcoin, we’re going towards true peer-to-peer transactions and exchanges. On a global scale, this will be much more powerful than any institution in the world. Still, financial institutions are great leverage, as they can give people the power to make this whole movement. We can utilize those institutions, but we don’t need them in the end.

Featured Image from Shutterstock

Posted: April 4, 2020

Most of the top 50 altcoins recorded incredible recoveries over the past 2-3 days. While this did not hold good for all coins, as most of them were still suffering from the losses incurred last month, a few coins like Nano and HedgeTrade were actually on a bullish run. A few other alts like Stellar, Lisk and Ontology, on the other hand, were recording a short-term bearish run.

Stellar

Stellar has been doing fine in terms of price. Since the 55% drop on 12 March, the coin has been on an upward run, maintaining constant support at $0.036. However, the attached chart indicated the formation of a symmetrical triangle, one highlighting a 40% chance for a downward breakout

The CMF indicator lay at -0.04, hinting at a downward price outbreak. However, there were 60% chances of an upward breakout; if in this case it turns out to be true, the price might rise to reach the resistance at $0.04.

In other news, the Stellar Development Foundation (SDF) is contributing to fight COVID-19 by launching a charity fund;  XLM tokens are being accepted as donations by several charitable organizations, including UNICEF and The Tor Project.

Resistance: $0.046, $0.054, $0,061
Support: $0.036, $0.033, $0.031

Press time price: $0.04
Market Cap: $859,059,328
24-hour Trading Volume: $434,312,699

Nano

Like Stellar, Nano, after the 57% drop on 12 March, maintained a stable price level for over a week. At the time of writing, the price was maintained its support at $0.42.  The chart for Nano highlighted the formation of an ascending triangle, indicating an upward breakout in the market. The Awesome oscillator indicator also confirmed the upward breakout as it lay above the zero line, at press time.

Resistance: $0.55, $0.72, $0.84
Support: $0.42, $0.38, $0.34

Press time price: $0.54
Market Cap: $72,792,278
24-hour Trading Volume: $4,864,497

HedgeTrade

HedgeTrade, with a circulating supply of 288,208,798 HEDG, was ranked 22nd on CoinMarketCap. As seen in the attached chart, the coin had been trending upwards since mid-December 2019, but the market crash on 12 March pushed down the price by 40%.

However, the coin has been trending upwards lately, and there was the formation of a potential ascending triangle, one signaling a further upward breakout. Additionally, the Stochastic RSI indicator was over 80, signaling an ‘overbought’ situation.

Resistance: $2.1, $2.8
Support: $1.47, $1.28

Press time price: $1.75
Market Cap: $510,521,455
24-hour Trading Volume: $648,054

Two Popular Altcoins Still Recording Over 140% Gains in 2020 So Far

Poloniex plans to shift the majority of its crypto trading operations offshore, according to parent company Circle. The move comes amidst regulatory uncertainty and pressure in the US, which lacks a clear legal framework or guidance for cryptocurrency-related businesses or crypto investors.

Circle CEO Jeremy Allaire says that 70% of Poloniex users are not based in the US, prompting the move to another jurisdiction. Allaire says Poloniex has already secured its Digital Assets Business Act license to operate in Bermuda, reports Coindesk.

Says Allaire,

“The lack of regulatory frameworks significantly limits what can be offered to individuals and businesses in the US.”

In May, the Delaware-based exchange stopped offering nine coins for its customers in the US due to regulatory uncertainty: Ardor (ARDR), Bytecoin (BCN), Decred (DCR), GameCredits (GAME), Gas (GAS), Lisk (LSK), Nxt (NXT), Omni Layer (OMNI) and Augur (REP).

The CEO also confirmed that the company’s recent downsizing, eliminating roughly 30 employees, was partly due to the lack of clarity from US lawmakers. The company’s current focus is global and getting beyond the US bottleneck.

“It took a long time working with the Bermuda government and the Bermuda Monetary Authority.”

“The project to establish a new international operations hub for our market, exchange and wallet services, was a major project.”

The move will also allow Poloniex to explore being able to offer financial services, adding that users could expect to see more “yield-generating crypto accounts.”

Poloniex ranks in the top 100 crypto exchanges in the world with a 24-hour trading volume of roughly $16 million, according to data compiled by CoinMarketCap. It is also listed among Messari’s Real 10 Volume index reflecting legitimate trading volumes from leading industry players.

In the wake of last week’s two congressional hearings on Facebook’s upcoming digital asset Libra, crypto insiders are assessing the highly critical response from US lawmakers who are determined to halt the project in its tracks. The hearings sparked an intense debate about Bitcoin, cryptocurrencies and new corporate digital assets that are all vying for a place in the digital economy.

Politicians have not yet figured out a way to deal with emerging blockchain technology and the many products and services currently in development to bring more financial inclusion for people all around the world. The threat of digital assets lowering costs, rivaling existing infrastructure and challenging the traditional banking and monetary systems has prompted many prominent politicians, including Maxine Waters and Brad Sherman, to demand a moratorium on Libra.

As for Bitcoin, the decentralized system cannot be halted or stopped by any central authority or government.

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Table of contents

Gelato Network, renowned for its roll-up as a service platform within the Web3 space, has announced a significant milestone with the launch of the Lisk L2 Developer Mainnet. This development marks a pivotal moment for Gelato, as it continues to broaden its scope and enhance its offerings in the decentralized ecosystem. 

The Lisk L2 Developer Mainnet is not just another layer; it’s part of Gelato’s strategic initiative to integrate more deeply with the Optimism network, heralding a new era of interoperability and efficiency in blockchain technology.

Driving Innovation and Interoperability in Web3 During the initial Devnet phase, Gelato facilitated the deployment of essential infrastructure components such as bridges, decentralized exchanges (DEXs), and applications in preparation for the public mainnet launch. This phase was critical in ensuring that Lisk L2 could seamlessly integrate into the Optimism collective known as the Superchain. 

This integration is aimed at enhancing sequencer revenue and contributing to a unified network of rollups that promise to revolutionize the way developers and applications interact across the blockchain.

The transition of Lisk Devnet to become the first Layer 1 blockchain migrating to Optimism’s network underscores a significant advancement in the blockchain domain. This move leverages Optimism’s OP Stack, which is designed to foster a unifying framework for rollups, enhancing communication, security, and governance across the network. 

The Superchain, which now includes Lisk among its 13+ chain integrations, supports asset bridging without fragmentation, shared governance under the OP Collective, and a robust security model that benefits all participating chains.

Moreover, the Gelato network has expanded its ecosystem to include over 17 infrastructure providers, enriching the chain’s environment with diverse services. These providers range from Web3 functionalities like Across Fi for bridging, RedStone oracles for reliable data feeds, to user interface solutions such as Protofire Safe UI and comprehensive analytics from Goldskyio indexers. 

Lisk L2 ⛓️ Developer Mainnet is LIVE On 🟠 Gelato

During the @LiskHQ Devnet phase, bridges, DEXs, & Apps deploy in preparation for the public mainnet launch

In this phase, Lisk L2 joins the Superchain by contributing sequencer revenue towards the @optimism collective ↓ pic.twitter.com/QHKoUE69jU

— Gelato (@gelatonetwork) June 6, 2024 This robust infrastructure supports a wide array of applications and developers, including notable entities like Velodrome, Thirdweb, and the Secret Network, enhancing the developer experience (DevEx) through improved interoperability and feature-rich capabilities.

The growth metrics from Lisk’s Q1 performance further illustrate the impact of these developments. Since the testnet’s inception, over 32,000 wallets have been created, facilitating more than 10,000 contracts and driving daily transactions to exceed 43,000. In total, the testnet has processed over 6.3 million transactions, a testament to the platform’s scalability and the robust demand for its services.

Gelato’s integration with the Optimism collective and the consequent launch of the Lisk L2 Developer Mainnet are not merely technical upgrades but are pivotal in shaping the future landscape of decentralized finance (DeFi) and decentralized applications (dApps). 

By enabling seamless cross-chain functionality and fostering a collaborative environment under the OP Collective governance, Gelato is setting new standards in the blockchain space, driving innovation, and simplifying the complexities of decentralized networks.

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Mysterious crypto writer with expertise in blockchain, offering deep insights that captivate and intrigue readers. With a unique ability to uncover hidden insights and trends, Samuel delivers in-depth analysis and thought-provoking content that keeps readers on the edge of their seats. His writing style is engaging and informative, blending technical knowledge with a sense of intrigue, making complex crypto topics accessible to both newcomers and seasoned industry professionals. Samuel’s work continues to capture the attention of the crypto community, solidifying his reputation as a trusted voice in the space.

The world’s largest crypto exchange Binance on Wednesday said it plans to delist some spot and margin trading pairs. The delisting to impact crypto such as Axelar (AXL), Coin98 (C98), Enjin Coin (ENJ), Bella Protocol (BEL), NULS, Lisk (LSK), Litentry (LIT), and SafePal (SFP). As a result, the price of some abovementioned crypto drops in response.

Binance Delisting AXL, C98, and ENJ Coin Spot Trading Pairs On January 8, Binance revealed the plan to remove and cease support some spot trading pairs for Axelar, Coin98, and Enjin Coin. The delisting will take effect at 03:00 UTC on January 10.

This move followed Binance’s periodic review of market liquidity and trading volume. The exchange cited poor liquidity and low trading volume as the main reasons for delisting these pairs.

Even though the affected tokens can still be used for trading alongside other assets on the platform, the decision to remove these trading pairs has raised concerns among traders and investors. The delisting of pairs like AXL/FDUSD, C98/BTC, and ENJ/ETH signifies a shift in market dynamics, prompting users to adjust their positions accordingly.

Investors To See Liquidity Issues? Furthermore, the removal of trading pairs from Binance can result in reduced liquidity, which can increase the volatility of the affected tokens, especially amid crypto market crash. The exchange also declared that it would terminate Spot Trading Bot services for the affected pairs.

Users who have set up automated trading bots for these pairs are advised to cancel or adjust them to avoid potential losses. This warning highlights the broader implications of delisting for traders who rely on automated strategies. The delisting news triggered a sharp decline in the price of the affected tokens, contributing to the ongoing market volatility.

Binance to Remove BEL, NULS, LSK, SFP, and LIT Margin Pairs Binance Margin announced the delisting of several cross and isolated margin trading pairs. These include Bella Protocol (BEL), NULS, Lisk (LSK), Litentry (LIT), and SafePal (SFP) in BTC pairs.

The delisting process starts with restrictions on asset transfers into Isolated Margin accounts. Isolated margin borrowing will be suspended on January 9. Binance advised users to close their positions or transfer assets to Spot Accounts before January 16. On this date, all affected positions will be settled automatically, and pending orders will be canceled.

Cross-margin pairs such as LIT/BTC, NULS/BTC, and SFP/BTC will be delisted alongside isolated margin pairs, including BEL/BTC, LIT/BTC, LSK/BTC, NULS/BTC, and SFP/BTC. One of the top crypto exchanges emphasized that users would no longer be able to update their positions during the delisting process, and failure to act in time could result in potential losses.

Despite these changes, the affected tokens will remain tradable in other pairs. This strategic move follows the exchange’s commitment to maintaining high-quality trading markets and optimize the user experience.

Price Impact Following Delisting Announcement Axelar’s AXL price was trading at $0.65 and fell by 12% in the last 24 hours. It was trading between a low of $0.64 and a high of $0.74. The current market cap of AXL is $583 million, with a trading volume of $15.85 million.

Coin98’s C98 token price declined by 15% from its peak level of $0.1884. It was trading at $0.16, with a market cap of $142 million and a 24-hour trading volume of $29 million.

Enjin Coin’s ENJ price was trading at $0.21, dropping 14% in the last 24 hours. It had a 24-hour trading range of $0.2098 to $0.2495. The ENJ token’s market cap stood at $381 million, with a trading volume of $32 million.

Other affected tokens included Litentry (LIT), Bella Protocol (BEL), and NULS, each experiencing a 13% dip. Lisk (LSK) saw a 10% decline, while SafePal (SFP) recorded a 5% decrease.

In addition, Binance suspended Troy token BSC deposits due to security concerns. This announcement caused Troy’s price to plummet by 40%, adding to the bearish sentiment across the market.

This week’s crypto calendar is packed with major events, including significant token unlocks across multiple ecosystems and the launch of Aptos’ staking exchange-traded product (ETP). Additionally, FTX victims are closely watching for anticipated settlements.

These developments are likely to increase volatility, particularly for ecosystem-specific tokens, urging traders and investors to adjust their strategies accordingly.

Avalanche, Oasis Network, Cardano UnlocksBeInCrypto reported that several ecosystems have token unlock events lined up for the week. Key mentions include the Avalanche, Oasis, and Cardano, expected to unleash 1.67 million AVAX, 176 million ROSE, and 18.53 million ADA tokens, respectively.

Taken together, these three events make up unlocks worth approximately $90 million between Monday and Thursday. Of note is that all these events will constitute cliff unlocks, which increase the chances of significant price impacts. Meanwhile, investors typically view token unlocks as bearish catalysts since they increase token supply, potentially outpacing demand.

Token Unlocks This Week. Source: TokenomistBitwise’s Aptos Staking ETP LaunchBitwise Asset Management is set to launch the Aptos Staking ETP (APTB) on the Swiss exchange SIX on Nov. 19, marking a major step in the crypto asset investment landscape. As the first Aptos Staking ETP, it demonstrates Bitwise’s commitment to expanding investment opportunities. APTB targets both institutional and retail investors, providing daily liquidity on the exchange with potential returns of approximately 4.7% after fees through staking.

Bitwise Aptos Staking ETP, APTB. Source: BitwiseFTX Settlements HearingsBankrupt cryptocurrency exchange FTX has secured significant settlements pending court approval, with a hearing set for Wednesday, November 20. The potential milestones, with Evolve Bank and the Silicon Valley Community Foundation (SVCF), could enable FTX to recover up to $21 million in assets, positioning it among the top crypto news this week.

These pending developments represent FTX’s efforts to maximize creditor recovery. The settlements highlight the firm’s strategy of negotiating asset returns and sidestep lengthy and costly litigation.

In its agreement with Evolve Bank, FTX will recover approximately $12.77 million from three accounts tied to West Realm Shires Services Inc., an FTX affiliate. Meanwhile, the bank will retain $462,698.65 for indemnification. As part of the deal, Evolve Bank has waived all potential claims against FTX, including indemnity and legal expenses under their prior agreement.

Similarly, FTX has reached a settlement with SVCF to recover $8.57 million and 34,208.70 FTT tokens. Former FTX executives Nishad Singh and Caroline Ellison originally donated these assets, with the foundation selling a portion before FTX’s collapse.

By agreeing to return the remaining funds and tokens, SVCF avoids litigation while FTX secures another step toward its recovery goals. Both settlements reflect FTX’s methodical approach to reclaiming funds amid its bankruptcy proceedings.

Kava 17 Mainnet UpgradeAnother top crypto news story this week is the voting period for the Kava 17 mainnet upgrade ending on November 20, which is expected to pass with a 99.47% approval so far.

It entails the deployment to Kava Mainnet at height 12766500 around 15:00 UTC on November 21. In this upgrade, the low-level data structure is updated to IAVL V1, an upgraded data format for the low-level storage of application data in the Kava blockchain.

Kava Upgrade Proposal Vote. Source: MintscanThe change in format results in much more chain performance synchronization and greatly reduces the storage footprint required for Kava nodes.

Lisk Airdrop CampaignLisk airdrop also makes it to the list of top crypto news this week. As BeInCrypto reported, Lisk launched its mainnet and airdrop campaigns with 15 million LSK tokens on November 12. The campaign, expected to start on November 21, will set the pace for an App Bounty Quest campaign that will launch towards the end of the year.

Meanwhile, the first season of the airdrop will run for four months. It incentivizes new users and builders to engage with Lisk’s blockchain ecosystem. In alignment with this effort, Lisk is implementing a comprehensive plan reflecting its past year’s progress through strategic partnerships and various programs. This launch represents a new phase for Lisk, and the results will be closely monitored.

Airdrop participants can earn points by completing a range of activities on the Lisk Portal. The number of tasks completed is directly proportional to points earned. It will determine the total LSK tokens received at the end of the campaign period.

Zero1 Labs v2 Token UnveilZero1 Labs, an innovative AI project making significant strides in artificial intelligence (AI), will unveil its V2 token on November 20.

“A bold step forward for the only community-run and launched AI ecosystem. DEAI will be the primary asset driving decentralized AI, supporting both Cypher Chain and Cypher Nodes. The first PoS chain with fully homomorphic encryption, purpose-built for AI,” the team shared on X (formerly Twitter).

Further, the Zero1 Labs team said it would not partner with the Artificial Superintelligence Alliance (ASI). It is taking a different path from peers like Cudos (CUDOS) and Injective (INJ). Notably, the debut will coincide with Nvidia’s third quarter (Q3) earnings, positioning its native token, DEAI, for volatility.

On the 2nd April 2019, Nimiq (NIM) announced that the crypto project had acquired a 9.9% stake in WEG Bank AG.

This move further reinforces Nimiq’s pre-existing strategic partnership with WEG Bank and Agora.Trade on a potentially revolutionary crypto-to-fiat bridge.

In this article, we’ll take a look at how all the pieces of the Nimiq puzzle fit together, how this acquisition and partnership could just be the beginning of wider disruption for both the cryptocurrency and fin-tech industries.

The Wider Impact On Crypto & Fin-techNimiq’s acquisition of a stake in WEG Bank means that the project is committed to dedicating their top developer talent to execute the blueprint for an innovate crypto-to-fiat bridge called Nimiq OASIS. This fin-tech solution is customer facing and aims to connect the traditional banking system, via WEG Bank, to the cryptocurrency markets using Agora.Trade.

  

At one end of the bridge, you have WEG Bank and Agora.Trade (a decentralized exchange) is at the other end. At the center of the bridge is Nimiq OASIS which is what connects the banking and cryptocurrency worlds together and enables value to be transferred between the two ecosystems. This is made possible by Nimiq OASIS making fiat currencies like the USD or EUR, blockchain compatible.

Now the value transfer problem between cryptocurrencies and banks has existed ever since Bitcoin was first introduced into the world.

This pain point has seen the emergence of cryptocurrency payment processors like Bitpay and Simplex, who step in as a middle man to bridge these two ecosystems. Indeed, Charles Hoskinson, the founder of Cardano (ADA) recently spoke about the current state of crypto markets and commented:

What we are seeing is a collection of standards being created [that] will inevitably converge over the next three to five years to create a situation where you can move information and value between all these different systems ー not just Bitcoin to Litecoin to Ethereum to Cardano ー but also your regular bank account

Nimiq OASIS aims to achieve the transfer of value between cryptocurrency and a normal bank account. Furthermore, the target date for release is Q4 2019 and the first iteration of Nimiq OASIS is looking to support Bitcoin, Ethereum and NIM. The potential of Nimiq OASIS is nearly endless with Team Nimiq stating that:

Nimiq’s vision is to further expand Nimiq OASIS reach to other fiat currencies like the USD and additional crypto assets as other banks and cryptocurrency platforms can also be enabled to interface with Nimiq OASIS and provide their customer bases with a convenient and cheap way to buy or sell different cryptocurrencies with a bank account

So, in a nutshell, the Nimiq OASIS blueprint aims to deliver an easier and cheaper way for people to buy and sell cryptocurrencies using their bank account. This eliminates the need for crypto payment processors and can remove an additional fee layer. Now, that’s very disruptive in itself, but there's more.

Nimiq OASIS can also enable transactions to be processed without a single, centralized intermediary (like an exchange or payment processor) controlling the two assets being exchanged, and without the private keys of the crypto asset ever being entrusted to a third party.

Maybe all that sounds like a word salad, but consider the QuadrigaCX situation earlier in 2019 and how $190 million in crypto assets became inaccessible to the exchange.

   

This issue demonstrates the benefit of a crypto owner never trusting their private keys to anyone else. Indeed, if all those QuadrigaCX users had held their own private keys then they would still have access to that $190 million worth of crypto.

WEG Bank’s part in the Nimiq OASIS blueprint is critical, for it is the way through which Nimiq OASIS can access the SEPA Instant network and enable the buying or selling of crypto with any bank part of that network.

This means that users wouldn’t have to have an account at WEG Bank to use Nimiq OASIS. Nimiq’s partnership and acquisition of a stake in WEG Bank demonstrate the commitment to making this fin-tech solution succeed.

More To Nimiq OASIS Then Meets The Eye?Currently, there are few banks looking to actively work with cryptocurrency projects or develop crypto-based solutions. Enabling retail banking customers to buy crypto doesn’t sound like that big a deal, however, the Financial Conduct Authority in the UK recently released a report and conducted a survey asking people why they were not buying cryptocurrencies.

An incredible 20% of people replied that lacked knowledge on how to buy cryptocurrencies. Nimiq OASIS could make buying crypto as simple as sending an online bank transfer and this highlights the benefits of making the buying and selling of crypto as simple as possible.

In the area of crypto payment processing, Nimiq OASIS could end up being a very disruptive force. The reason why is that many merchants don’t want to use a crypto payment processor like Simplex due to fees of up to 5%.

Now many online retailers operate off average net margins as low as 0.5% to 3.5%. That’s a huge disincentive for many merchants to accept cryptocurrencies and for some, accepting crypto payments could even result in the merchant making a loss.

Image via Nimiq

With Nimiq OASIS comes the potential for significantly lower fees by removing crypto payment processors as middlemen. The potential is there for Nimiq OASIS to actually spread the wider merchant adoption of cryptocurrencies by offering a cheaper alternative.

The stable-coin market could also be impacted. Today, these markets stand at around $2.8 billion, with the main use case of stable coins being to hedge against the volatility of crypto.

However, that hedge does come with some risks if people are using certain popular, unaudited stable-coins. Nimiq OASIS could offer crypto enthusiasts a different alternative to hedge against the markets with actual fiat.

No one really knows how large the crypto over-the-counter markets are. However, many agree that the volume on OTC desks is larger than that transacted over cryptocurrency exchanges. If you are not sure what OTC markets are, it’s just a complicated way of saying that crypto buyers, with fiat, are matched with crypto sellers wanting to sell for fiat currency.

Usually these markets are reserved for only high-value transactions and the OTC broker takes a cut of the transaction for making it all happen. If Nimiq OASIS gains high levels of liquidity, then it could offer current OTC buyers and sellers with an alternative option for their trades and enable Nimiq OASIS to eat into OTC market share.

From Nimiq’s recent stake acquisition, WEG Bank has further strengthened its partnership with Nimiq and this could make a lot of strategic sense when you know that the bank is focusing on expanding into the crypto niche. Matthias von Hauff, CEO of WEG Bank AG went on the record with the following comment.

For the past 12 months, we have been looking at various ways to expand our core banking activities into the blockchain community. With Nimiq, we have been able to develop not only a landmark payment interface which has the potential to revolutionize the way we deal with cryptocurrencies, but also an innovative and powerful partnership

Not only does WEG Bank play a critical role in the Nimiq OASIS solution, but the acquisition of a stake in the bank also opens up other opportunities for Nimiq. Prominent crypto projects like Litecoin and Tokenpay are already existing shareholders and twenty cryptocurrency projects are set to be selected for corporate accounts at WEG Bank, with Lisk already being confirmed.

The WEG Bank connection certainly brings with it the potential for Nimiq to grow even more meaningful partnerships and collaborative efforts.

A Brief Overview About NimiqThe thing to know is that Nimiq OASIS is just a single initiative that makes up the Nimiq project. Nimiq is a decentralized payment system, with an extensive ecosystem of apps, in which the NIM token is used as a store and transfer of value.

Sure, this sounds very similar to the the numerous other crypto payment systems out there like Dash.

However, Nimiq does differentiate with its cutting edge browser-based blockchain, which allows users to connect to it using only a web browser. This creates a installation-free experience, geared towards ease of use. Nimiq also compounds this approach by going to extraordinary lengths to make user interfaces simple and easy.

This approach and emphasis on simplicity have been inspired by Nimiq’s vision of making a cryptocurrency for the masses and not just the tech savvy. The focus on ease of use is probably a wise strategy given that companies like Apple have been able to achieve astonishing rates of product adoption by keeping things as simple as possible for users. Nimiq is built with a similar ethos in mind and this can be seen throughout the project.

Image via Nimiq

The Nimiq ecosystem is full of the teams and the best ideas from the Nimiq community.

Nimiq has created a frictionless, one-click pay webshop where you can get your hands on branded merchandise. However, one of the most promising components of the ecosystem is a new checkout flow, which is set to be released shortly to enable different e-commerce stores around the world to accept NIM as a payment method. This could be a critical part of Nimiq’s future if combined with Nimiq OASIS and this could provide merchants with a viable alternative to crypto payment processors.

If you scout around the Nimiq forum you’ll also be able to see that it appears that plans are already being hatched for Merchant adoption, with Nimiq publicly disclosing a list of merchant targets.

The Nimiq ecosystem also includes numerous tip bots for platforms like Reddit, Twitter, Twitch, Telegram, and Discord. It even has a browser-based Crypto-Tamagotchi game too.

Nimiq’s acquisition and strategic partnership with WEG Bank can be viewed as a smart springboard to further expand the project’s ecosystem, whilst enhancing its use-case as a payment system. Nimiq’s work is by no means done yet. However, there appears to be a lot of promise and potential there and it might be worth keeping a closer eye on project developments.

What is WEG Bank?WEG Bank is a German bank founded by CEO Matthias von Hauff. The bank has gained a reputation for being one of the best institutions in the German real estate banking sector and has set its sight on expansion into the corporate, crypto and retail sectors.

Image via WEG Bank

With Nimiq on board, it seems that the project could play a key role in helping WEG Bank expand into the cryptocurrency markets and get a head-start over other less progressive thinking banks.

Who are Agora Trade?Agora.Trade is a decentralized exchange under Swiss and Maltese ownership. They are led by Forbes 30 under 30 listmaker Reto Trinkler. The exchange has also partnered up with WEG Bank through their connection and involvement in Nimiq OASIS.

In addition, Reto is also collaborating on other cutting-edge blockchain research with Nimiq through his other company called Trinkler Software. This collaboration appears to be bearing fruit, with the proposed Albatross consensus algorithm being the first thing to out of this collaboration.

Albatross is a new proof-of-stake consensus algorithm and its believed that this is able to perform close to the theoretical maximum for a single chain. This research is currently being put to the test, however, it could provide a foundation for Nimiq to shift to proof-of-stake in the future.

ConclusionNimiq OASIS has the potential to play a big role in shaping the future landscape of the wider crypto and fin-tech sectors. The acquisition of a stake in WEG Bank further supports Nimiq’s commitment to delivering Nimiq OASIS and the strategic partnerships with both WEG Bank and Agora-Trade.

It also opens the door for Nimiq to forge additional partnerships with substance, with Litecoin and Tokenpay already being stakeholders, some of the twenty crypto projects set to be selected for corporate accounts might synergize well with Nimiq and lead to even more future collaborations.

However, it must be noted that Nimiq OASIS is only a blueprint right now and that the first Nimiq OASIS transaction isn’t expected till Q4 2019. Sometimes development work takes longer than anticipated and that target date is certainly not fixed.

What’s particularly interesting about Nimiq OASIS is that it has never been intended to be used exclusively for NIM. From the get-go, Bitcoin and Ethereum support are anticipated, with Nimiq already suggesting that the vision is to enable support for other cryptocurrencies. This means that the Nimiq OASIS effect could be felt out throughout the entire crypto market in the future.

If Nimiq OASIS succeeds with help from WEG Bank and Agora.Trade, it will certainly be interesting to see if this fin-tech solution starts to change the attitudes held by other banks towards cryptocurrencies. Maybe WEG Bank will be the first of many to embrace this new technology?

Only time will tell what the true impact of Nimiq will be…

However, given the scale of the possible disruption, it might be a good idea to keep closer tabs on the project and keep up to date with the project’s developments.

Disclaimer: The author holds some NIM in their portfolio and is compensated in a long-term independent consulting capacity by Nimiq. This article must not be construed as investment advice. Always do your own research.

PANews, June 23 – According to the official Lido blog, Lido DAO has voted via Snapshot to revoke the “canonical” bridging endpoint designation for wstETH on nine networks: zkSync Era, Mode, Scroll, Mantle, Swell, Zircuit, Soneium, Polygon PoS, and Lisk. This move represents a resource reallocation at the governance level and does not affect the technical operation of the relevant bridges and contracts. Users can still hold, transfer, or bridge wstETH back to Ethereum on the above networks as normal. Lido will discontinue security monitoring and ecosystem and market support for these networks but will not set a migration deadline.