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Upbit to list PEAQ, LIT, KMNO, MORPHO, GRAM, LDO, PAXG, OSMO, AMP tokens on BTC and USDT markets

PANews June 19 news, according to an official announcement, South Korean crypto exchange Upbit will list PEAQ, LIT, KMNO, MORPHO, GRAM, LDO, PAXG, OSMO, and AMP tokens on the BTC and USDT markets. Trading will begin at 15:00 local time on June 19.Share to:

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Crypto token M plunged over 80% in a short period, hitting a low near $0.5.

According to HTX market data, the token M saw a sharp short-term price plunge, with its decline once exceeding 80% and hitting a low of around $0.5, and is now trading at $0.54.

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Blockchain data infrastructure firm Cambrian has closed a $6 million funding round, jointly led by Franklin Templeton and Polychain Capital.

Blockchain data infrastructure project Cambrian has closed a $6 million seed round, co-led by Franklin Templeton and Polychain Capital, with participation from Flow Traders, Selini Capital, and other investors. The project previously raised a $5.9 million pre-seed round led by a16z Crypto Startup Accelerator, bringing its total funding to $11.9 million. Cambrian currently provides institutional investors and AI Agents with real-time and historical data APIs covering on-chain yields, risks, lending markets, and trading activities, and plans to further build a verifiable data oracle network. Official data shows it has indexed over $4.5 billion in lending TVL, tracks more than 320,000 DEX liquidity pools, and currently supports Base and Solana, with plans to expand to additional ecosystems including Ethereum. The funds will be used to expand on-chain data coverage, accelerate oracle network development, and team recruitment.

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Whale 0xbilly pulled off another "buy high, sell low" move, exiting with a $220,000 loss in a single day.

According to EmberCN’s monitoring, whale address 0xbilly liquidated 2,409 ETH in the early hours of today when ETH fell to around $1,569.5, worth approximately $3.78 million, with a total loss of roughly $220,000. Notably, this batch of ETH was purchased just one day ago for about 4 million USDC, at an average price of approximately $1,660.2. The address also previously bought 7,768.5 ETH at a high of $2,254 in March this year, valued at around $17.51 million, and exited via stop-loss four days later, incurring a loss of roughly $800,000.

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Two whales opened a short position worth approximately $90 million on the S&P 500.

According to monitoring by Onchain Lens, two whale addresses are building short positions on the S&P 500, with a combined position of approximately $90 million. Details are as follows: Whale address "0x469" has opened 6,500 S&P 500 short positions, using 20x leverage, valued at around $48 million, with a liquidation price of $8,413.66. Whale address "0x4ff" has opened 5,686.66 S&P 500 short positions, using 7x leverage, valued at around $42 million, with a liquidation price of $8,358.13.

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Binance's Shanghai leverage contract fee rate surges to 0.66%

Market data shows South Korea's SK Hynix rose over 10% intraday. The funding rate for Binance's SKHYNIX/USDT contract pair jumped to 0.668%, equivalent to an annualized rate of 723%, signaling the market is gripped by FOMO-driven long positions.

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US-listed optical module stocks rallied broadly in after-hours trading, with MRVL surging over 5%.

According to Bitget market data, driven possibly by Micron’s better-than-expected financial results, U.S.-listed optical module stocks rose broadly in after-hours trading, with COHR up 4%, LITE up 3%, AAOI up 5%, NOK up 3.1%, and Marvell (MRVL) up 5.17%.

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South Korea’s dominant crypto exchange just added nine fresh trading pairs, and the market reactions are already telling a familiar story: some tokens pop, others drop, and everyone scrambles to figure out which side they’re on.

Upbit began listing PEAQ, LIT, KMNO, MORPHO, GRAM, LDO, PAXG, OSMO, and AMP on June 19, rolling them out in staggered intervals starting at 15:00 KST. Each token received BTC and USDT trading pairs, with one exception: AMP was listed exclusively against USDT.

Staggered launch, mixed results The rollout was methodical. PEAQ and LIT went live first at 15:00, followed by KMNO and MORPHO at 16:00. GRAM, LDO, and PAXG opened at 18:00, with OSMO and AMP closing out the schedule at 19:00.

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PEAQ was the clear early winner, posting an intraday gain of roughly 21.9%. Not everyone got the same treatment. GRAM, which is the rebranded version of Toncoin (TON) following a name change effective June 15, declined about 2.75%. LIT slipped by approximately 1.68%.

The tokens: a quick primer PEAQ is a decentralized physical infrastructure network, or DePIN, token built for machine economies. LIT, the native token of Litentry, focuses on decentralized identity aggregation. KMNO powers Kamino Finance, a DeFi protocol on Solana. MORPHO is the governance token of Morpho, a lending protocol optimizer that sits on top of existing DeFi lending platforms like Aave and Compound.

GRAM, as mentioned, is the newly rebranded TON. The rebrand took effect just four days before the Upbit listing, making this the token’s first major exchange debut under its new identity. LDO is Lido DAO’s governance token, one of the most well-known liquid staking protocols in crypto.

PAXG is Paxos Gold, a tokenized representation of physical gold, backed one-to-one by London Good Delivery gold bars. OSMO is the native token of Osmosis, a decentralized exchange in the Cosmos ecosystem. AMP is the collateral token for the Flexa payments network.

Samsung, Dunamu, and the bigger picture These listings don’t exist in a vacuum. They arrive alongside a significant corporate development: Samsung affiliates recently concluded a $408 million acquisition of a 4% stake in Dunamu, Upbit’s parent company. That deal puts Dunamu’s implied valuation at roughly $10.2 billion based on that 4% stake.

Previous listings, including SPX6900 in a recent batch, prompted considerable volume increases on the exchange.

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

Biggest Crypto Price Movements of 2019

The world of cryptocurrencies has exploded only recently. Investors are looking to cash in on its volatility, and reap quick profits. While this is easier said than done, a larger audience of people are buying into investing in cryptocurrencies, and are understanding the potential benefits of implementing blockchain technology in several different sectors of business. 

According to the bitcoin hero, if you are looking at investing in cryptocurrencies, there is no better time than now. There are several cryptocurrencies that fared well in 2019, and heading into 2020, several cryptocurrencies are displaying great potential. That being said, which cryptocurrencies performed the best in 2019? Read on to find out, and learn much more.

Cryptocurrencies with the Biggest Growth in 2019 Seele (SEELE) Seele is an Ethereum-based token, hit $0.17 on the 24th of November, from $0.0866 on the 12th of November. Seele has been in the $0.1-0.15 range on a consistent basis ever since, and is a token to look out for, come 2020, being an active token, with a good and consistent market. You must perform your due diligence on its underlying project, to better understand its future prospects.

Ethereum Meta (ETHM) Ethereum Meta, was a relative unknown till the fag end of 2019, trading at $0.000005 on the 30th of November, 2019. Ethereum Meta started experiencing great growth in December, and hit a year high of $0.000101 on the 25th of December – An enormous surge in price. 

Ethereum Meta is another cryptocurrency to look out for in 2020, and is performing even better since the turn of the calendar year. Like Seele, you must perform your due diligence, and research on its underlying project, before investing in the cryptocurrency. 

Luna Coin (LUNA) Luna Coin witnessed a surge in growth in 2019, rocketing to $0.0511 on the 14th of May, 2019, from $0.0139 on the 13th of May. This was short lived though, as Luna Coin slumped back into the vicinity of the $0.010-0.015 range towards the end of May. Luna Coin ended the year at $0.01, capping a decent year, and the potential for growth, come 2020.

Matic Network (MATIC) Much like Ethereum Meta, Matic Network was a relative unknown till the latter stages of 2019, trading at $0.0129 on the 22nd of November. Matic Network traded at a high of $0.0427 on the 8th of December, after which it dipped, and ended the year at $0.014. Matic Network has been trading at about the same rate, since the turn of the calendar year, and may have a good 2020, although historical data does not suggest the same.  

Bitcoiin (B2G) Bitcoiin, as the name suggests is a fork of Bitcoin, and hit the headlines with a surge to $0.77, on the 5th of February, 2019, from $0.0167 on the 28th of January. This too, was short lived, as Bitcoiin ended the year at $0.000291, way off its high of $0.77. Bitcoiin’s future seems to be bleak, heading into 2020.

Conclusion on the top 5 cryptocurrencies with the biggest growth in 2019All the above mentioned cryptocurrencies have had their fair share of highs and lows. While most of them are relative unknowns, a few have great potential in 2020, and must be kept an eye on. That being said, you should keep an eye out for Bitcoin, as it is to undergo Bitcoin Halving this year. 

This may lead to a dip/rise in its price, both options of which should prove to be enticing for potential investors. There are several other cryptocurrencies which you must look out for, and you must keep an eye out for the latest news and updates regarding the same. 

Crypto investor Chris Burniske says that Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and the crypto market in general look ready to make a run.

The former head of crypto at ARK Invest tells his 292,200 followers on the social media platform X that several catalysts are now lining up, hinting that digital asset markets are on the verge of a rally.

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According to Burniske, a partner at venture capital firm Placeholder, the highly anticipated launch of Ethereum-based exchange-traded funds (ETFs), Republican presidential candidate Donald Trump speaking at an upcoming Bitcoin event and the current state of BTC, ETH, and SOL charts all suggest major bullishness for crypto markets.

“With ETH ETFs slated to go live, Trump speaking at The Bitcoin Conference, and BTC, ETH, SOL charts that look like [they do] (while equities are weak), it’s hard to see a world where we don’t send next week.”

Reuters recently reported that preliminary approval for ETH ETFs was granted while The Bitcoin Conference is set to take place from July 25th-July 27th.

BTC, ETH, and SOL are trading for $67,333, $3,528 and $174 at time of writing, respectively.

The venture capitalist also provides an update on his prediction that the total market cap of crypto assets will eventually reach $10 trillion. According to his chart, the road to $10 trillion is currently “23%” complete as it sits around $2.2 trillion.

Source: Chris BurniskeX Earlier this month, Burniske said in an interview with Real Vision CEO Raoul Paul that he’s keeping a close eye on the Move ecosystem, which was originally built by social media giant Meta and then used to develop layer-1 blockchains Sui (SUI) and Aptos (APT).

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Singularity Finance, an EVM Layer-2 for tokenizing the Real World Assets (RWA) of the AI economy, will be launched via a strategic token merger announced by SingularityDAO, Cogito Finance, and SelfKey.

Web3 will be accelerated by a platform optimized for AI tokenization that is powered by the combination of the three complimentary technologies. By integrating AI assets like GPUs into already-existing DeFi apps and tokenizing them, new onchain primitives will be created, opening up more effective financing sources for AI-driven developments.

With the help of SelfKey’s compliant identity solution, Singularity Finance will leverage Cogito’s tokenization framework to put RWAs onchain, establishing decentralized markets in which users may readily engage. Using SingularityDAO’s AI-driven DynaVaults and other technologies, Singularity’s Layer-2 will provide AI-powered financial tools services that improve and automate analysis, portfolio, and risk management.

Cogito Finance CEO Cloris Chen said:

“The rapid growth of the AI sector is creating significant opportunities for both institutions and retail participants. However, barriers still exist on both the demand and supply sides, limiting broader participation in the AI economy. By developing our own Layer-2 solution democratising AI-Fi, we can overcome these challenges and remain agile in adapting to an evolving regulatory landscape.”

SingularityDAO co-founder Mario Casiraghi added:

“We stand at the intersection of AI and DeFi, where much of the innovation currently taking place within the Web3 space is occurring. AI-Fi harnesses the immense potential of the AI economy by tokenising the AI value chain, creating unprecedented opportunities to access, exchange and monetise these assets.”

The three existing tokens—SDAO, CGV, and KEY—will be combined into a single token, SFI, which will function as Singularity Finance’s network token as part of the merger. With the mainnet release scheduled for the first half of 2025, the SFI token will first be accessible on Ethereum and BNB Chain. The conversion ratios between SDAO, CGV, and KEY will be as follows:

At a ratio of 1:80.353 (1 SDAO = 80.353 SFI), SDAO migrates to SFI. 1:10.890 is the ratio of CGV migration to SFI (1 CGV = 10.890 SFI). Migration of KEY to SFI at a 1:1 ratio (1 KEY = 1 SFI). The 200-day moving average of each token up to August 20, 2024, is the basis for pricing.

A leadership council for Singularity Finance will be formed when the merger is finalized to supervise and direct the activities of the combined financial ecosystem. Mario Casiraghi, CFO of SingularityNET and Co-Founder of SingularityDAO; Cloris Chen, CEO of Cogito Finance; and Dr. Ben Goertzel, CEO of SingularityNET and the Artificial Superintelligence Alliance, will serve as the council’s leaders. The community will have the chance to vote in a governance vote after the merger announcement, which will take place from October 21 to October 31.

The merger will solve the major issues with ownership and accessibility to AI-related revenues and assets that are now present. Users will be able to access yield prospects from compute and AI agents by using SFI-compliant tokenization infrastructure. Additionally, AI market players will be able to create additional liquidity for their assets, increasing the accessibility of high-quality yield supported by AI and hardware. Through its Layer 2—which includes integrated legal frameworks, distribution channels, a marketplace, and AI-powered asset management tools—Singularity Finance will address these issues.

A crypto enthusiast. Loves to write. Gives full dedication to every task assigned. Specializes in delivering on tight deadlines. An animal lover, especially dogs.

[PRESS RELEASE – Gros Islet, Saint Lucia, October 15th, 2024]

SingularityDAO, Cogito Finance, and SelfKey have announced a strategic token merger to launch Singularity Finance, an EVM Layer-2 for tokenising the AI economy’s Real World Assets (RWA).

Combining the trio’s complementary technologies will power a platform optimised for Artificial Intelligence tokenisation that will accelerate Web3. Tokenising AI assets such as GPUs and integrating them into existing DeFi applications will create new onchain primitives, enabling more efficient funding sources for AI-driven innovations.

Singularity Finance will bring RWAs onchain using Cogito’s tokenisation framework, creating decentralised markets where users can easily participate with the support of SelfKey’s compliant identity solution. Singularity’s Layer-2 will offer AI-powered financial tools services that enhance and automate analysis, portfolio, and risk management leveraging SingularityDAO’s AI-driven DynaVaults and other technologies.

Cogito Finance CEO Cloris Chen said: “The rapid growth of the AI sector is creating significant opportunities for both institutions and retail participants. However, barriers still exist on both the demand and supply sides, limiting broader participation in the AI economy. By developing our own Layer-2 solution democratising AI-Fi, we can overcome these challenges and remain agile in adapting to an evolving regulatory landscape.”

SingularityDAO co-founder Mario Casiraghi added: “We stand at the intersection of AI and DeFi, where much of the innovation currently taking place within the Web3 space is occurring. AI-Fi harnesses the immense potential of the AI economy by tokenising the AI value chain, creating unprecedented opportunities to access, exchange and monetise these assets.”

As part of the merger, the three existing tokens—SDAO, CGV, and KEY—will be converted into a unified token, SFI, which will serve as the network token for Singularity Finance. Initially, the SFI token will be available on Ethereum and BNB Chain, with mainnet released planned for the first half of 2025 and with the conversion ratios between SDAO, CGV, and KEY set as follows:

SDAO migration to SFI at a ratio of 1:80.353 (1 SDAO = 80.353 SFI) CGV migration to SFI at a ratio of 1:10.890 (1 CGV = 10.890 SFI) KEY migration to SFI at a ratio of 1:1 (1 KEY = 1 SFI) The pricing is based on the 200 days moving average of each token in the period up to 20th August 2024.

Upon closing of the merger, a leadership council for Singularity Finance will be established to oversee and guide the operations of the newly merged financial ecosystem. The council will be led by Dr. Ben Goertzel, CEO of SingularityNET and the Artificial Superintelligence Alliance; Cloris Chen, CEO of Cogito Finance; and Mario Casiraghi, CFO of SingularityNET and Co-Founder of SingularityDAO. Following the merger announcement, the community will have the opportunity to participate in a governance vote, which will run from 21 to 31 October.

The merger will address the significant challenges currently faced in the ownership and accessibility of AI-related assets and yield. By leveraging SFI compliant tokenisation infrastructure users will be able to access yield opportunities from compute and AI agents; in addition, AI market participants will be able to foster extra liquidity for their assets thereby making AI and hardware-backed high-quality yield more accessible. Singularity Finance will solve these challenges through its Layer2 including built-in legal frameworks, distribution channels, marketplace, and AI-driven asset management tools.

About SingularityDAO

SingularityDAO is a decentralised Portfolio Management Protocol designed to democratise access to sophisticated crypto asset management tools. The upcoming DynaVaults, multi-asset, multistrategy vaults leveraging AI-enhanced analytics and risk management tools, provide the much needed infrastructure in the volatile world of DeFi.

Learn more: https://singularitydao.ai/

About Cogito Finance

Cogito’s mission is to bring traditional assets onchain for increased liquidity, security, and transparency. It offers a suite of carefully-engineered, fully transparent, and institutional-grade investment products. Led by a team of finance and technology experts, Cogito is pioneering the future of onchain finance.

Learn more: https://www.cogito.finance/

About SelfKey

A blockchain-based identity platform that enables individuals and organisations to securely manage and control their digital identities, enhancing compliance with KYC requirements through decentralised technology. With a team experienced in decentralised identity since 2014 across major companies, SelfKey aims to revolutionise the KYC onboarding process by lowering costs, improving security, and upholding the principles of self-sovereign identity.

Learn more: https://selfkey.org/

Three blockchain projects—SingularityDAO, Cogito Finance, and SelfKey—have joined forces to launch Singularity Finance, a new EVM layer 2 platform designed to tokenize real-world assets in the AI economy.

https://t.co/T4yv5XsNAN

— SingularityDAO (@SingularityDAO) October 15, 2024

As part of the union, the projects’ respective tokens, including SDAO, CGV, and KEY, will be merged into a single unified token called “SFI,” SingularityDAO said in a Tuesday press release.

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The conversion ratios are: 1 SDAO to 80.353 SFI; 1 CGV to 10.890 SFI; and 1 KEY to 1 SFI. The rates are based on the 200-day moving average up to August 20, 2024.

The merger is aimed at enhancing web3 applications using the technologies of the three projects. Through the new platform, the project members are also looking to enable more funding sources for AI-driven innovations by tokenizing AI assets and integrating them into DeFi applications.

Discussing the launch of Singularity Finance, Cloris Chen, CEO of Cogito Finance, said the solution could help bridge the gap between the potential of AI and the current limitations of its adoption, making it easier for a wider range of participants to benefit from the AI economy.

“The rapid growth of the AI sector is creating significant opportunities for both institutions and retail participants. However, barriers still exist on both the demand and supply sides, limiting broader participation in the AI economy,” Chen stated.

“By developing our own Layer-2 solution democratizing AI-Fi, we can overcome these challenges and remain agile in adapting to an evolving regulatory landscape,” he added.

As noted in the press release, Singularity Finance will utilize Cogito’s tokenization framework to bring real-world assets onto the blockchain, supported by SelfKey’s compliant identity solutions. The collaboration will create decentralized markets that facilitate easier participation and leverage AI to improve financial tools and risk management.

A governance vote following the merger announcement will take place from October 21 to 31, allowing the community to participate in the future direction of the newly formed entity.

SingularityNET, which spawned SingularityDAO, previously merged with AI-focused projects Fetch.ai and Ocean Protocol to form the Artificial Superintelligence Alliance token (ASI). The ASI also revealed its plan to add CUDOS, a decentralized cloud computing platform, as an alliance member.

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

SingularityDAO, Cogito Finance, and SelfKey have announced a strategic merger to form Singularity Finance. This new entity will enhance the tokenization of the artificial intelligence economy through a specialized Layer-2 network. The unified platform will introduce the SFI token as its core network token, consolidating the three existing tokens, SDAO, CGV, and KEY, into a single currency to streamline transactions and governance within the ecosystem.

SingularityDAO, Cogito, SelfKey Merge to Form Singularity Finance, SDAO Price Rally 19% The collaboration between SingularityDAO, Cogito Finance, and SelfKey has resulted in the creation of Singularity Finance. This platform will transform the AI sector by tokenizing real-world assets and integrating AI into the decentralized finance (DeFi) landscape. 

Moreover, the merger leverages each company’s strengths to create a robust Layer-2 solution on the Ethereum blockchain. It aims to democratize access to AI technologies and financial products. Following the merger announcement, SingularityDAO’s token, SDAO price, experienced a significant uptick, rising 19% to a trading price of $0.34.

Courtesy: CoinMarketCap The new entity will deploy Cogito’s advanced tokenization frameworks as the merger progresses. SelfKey’s identity solutions will also be integrated to ensure compliant user participation. This strategy will offer enhanced liquidity and improved access to AI-driven financial tools.

Token Consolidation and Future Plans In addition, the creation of Singularity Finance will consolidate SDAO, CGV, and KEY into the new SFI token. This move will unify the economic structure of the merged entities and simplify the user experience across its platforms. 

However, the token conversion will take place based on different ratios, with consideration on the trading history of each tokens. In particular, the SDAO tokens will be exchanged for SFI at 1:80.353, CGV at 1:10.890, and for KEY token at 1:1 ratio. Selling of the SFI token will commence on the Ethereum and BNB Chain, but the expansion will be done on other blockchains after the mainnet scheduled for early 2025.

Before these changes occur some form of governance will be put in place to addresses them. As such, token holders will exercise their voting rights in several rounds of voting to take place before the end of October. This will create a community-based approach in the new financial environment.

Moreover, the merger will introduce decentralized marketplaces and financial instruments that leverage Artificial Intelligence to optimize asset management, risk assessment, and investment strategies. More so, Singularity Finance will facilitate the tokenization of physical assets like GPUs and extend to computational resources and AI models, thereby broadening the scope of assets available onchain.

SingularityDAO will revolutionize AI and DeFi through this merger, paving the way for a tokenized future in artificial intelligence.

SingularityDAO Announces Token Merger for AI Economy’s Real World Assets

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SelfKey will be engaging its community in a vote to decide the fate of a merger of Singularity DAO(SDAO) and Cogito Finance starting from the 1st of November this year. On approval of the deal, SelfKey lists shall form Singularity Finance, which is a Layer 2 blockchain that specializes in tokenization of AI assets. 

The vote will continue until November 7, and any holders of the KEY token will be able to cast their vote, thus, it will provide SelfKey’s community with a voice in the further evolution of the platform.

Merger to Form Singularity Finance with KEY Holder Approval The integration will entail SelfKey, Singularity DAO, and Cogito Finance joining to create a single corporation known as Singularity Finance. This transition would also favour the holders of KEY tokens as a token swap mechanism would allow them to exchange their KEY tokens for the new platform’s token known as SFI. Thus, Singularity Finance intends to become the key RWA tokenization platform to focus on the AI economy.

Singularity Finance will utilize the combined expertise of SelfKey’s identity technology, Singularity DAO’s DeFi capabilities, and Cogito Finance’s financial models to establish a compliant ecosystem for tokenized AI assets.

By merging into a single platform, these entities plan to create advanced AI-driven financial services, bolstered by SelfKey’s decentralized identity solutions that offer compliance and security. The network will function as an EVM-compatible Layer 2, designed to support AI tokenization in a regulated environment.

SelfKey Snapshot Vote to Capture KEY Token Holder Participation The KEY Token holders willing to participate in the vote shall keep their tokens in their wallets by November 1 to establish a “snapshot”. This process ensures that only those who actively hold KEY on the day of the vote will gain the right to ballot on the Snapshot voting platform.

The three types of votes will be approval of the merger, rejection of the merger, or abstaining from the merger proposal to give the SelfKey community the power to decide the company’s next steps.

AUTHOR

Crypto journalist with years of experience providing in-depth analysis and news on blockchain and decentralized finance. With a keen eye for detail, Shahzaib delivers insightful articles that explore the latest trends, market movements, and innovations within the crypto and blockchain ecosystem. His work focuses on educating readers while offering expert commentary on the evolving landscape of digital assets, DeFi protocols, and the broader impact of blockchain technology.

SingularityDAO token holders have approved a merger with Cogito Finance and SelfKey to form Singularity Finance, an EVM layer 2 platform focused on tokenizing the AI economy.

The move comes after SingularityDAO announced last month it would join forces with Cogito Finance and SelfKey to form the AI-focused L2 platform, with a consolidated new token, SFI.

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The community vote, conducted through the Snapshot governance framework, saw more than 15 million SDAO tokens participating, with 94.7% approving the merger proposal.

“We’re grateful to all SDAO holders for participating in this pivotal governance vote and having their say on the future of SingularityDAO,” said Mario Casiraghi, SingularityDAO Co-Founder. “With their approval, we will now move ahead with the proposal to create Singularity Finance as an L2 that combines the best elements of SingularityDAO with those of our partners SelfKey and Cogito Finance to accelerate DeFi and AI innovation.”

The merger’s completion now awaits a community vote from SelfKey’s KEY token holders. The combined entity aims to develop solutions across the Artificial Intelligence value chain, including RWA tokenization and on-chain identity management.

Cloris Chen, CEO of Cogito Finance, said:

“The overwhelming community support for the SFI merger is a powerful testament to the shared vision we have for the future of finance. By combining our expertise and technologies, we are poised to unlock unprecedented opportunities at the intersection of AI and DeFi.”

The new organization will enhance SingularityDAO’s existing AI-powered portfolio management services with compliance and RWA tokenization solutions from SelfKey and Cogito Finance.

Singularity Finance will be led by a leadership council, including Dr. Ben Goertzel, CEO of SingularityNET and the Artificial Superintelligence Alliance; Cloris Chen, CEO of Cogito Finance; and Mario Casiraghi, CFO of SingularityNET.

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

SingularityDAO, SelfKey and Cogito Finance Token-Holders Approve Merger to Form Singularity Finance

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Kwenta, a leader in the decentralized finance sector, disclosed a radical upgrade on its user interface, from V2 to V2X. The platform-wide overhaul was designed to change the Kwenta user interface experience for its flagship Optimism product. The Kwenta core group has been working on the overhaul project for some time now, intending to redesign Kwenta before the launch of the new V3 Perps mechanism later in the year.

Kwenta has been crafting one of our most significant UI upgrades from the ground-up.

Step in to the new v2x, a masterfully built interface for our most popular product on @Optimism.

Check out the blog:
👉https://t.co/T86bQWa5dQ

Or read the highlights below. 🧵 👇

— Synthetix Exchange (@SNX_Exchange) May 3, 2024 Kwenta’s V2X Upgrade to Redefine Trading Convenience They started improving each part of the product, from the landing page, with meticulous care, and all the way through the platform. Today’s V2 Perps upgrade on Optimism, which you shall henceforth refer to as V2X, is Kwenta’s rained iteration yet. Since its initiation in December 2022, V2X has been Kwenta’s most comprehensive ever refinement. It remains true to the product’s devotion to refinement and dedication to an excellent user experience for its users and the general public at large.

V2X improvement strides an excellent addition to a new and improved landing page to welcome its users with brilliance. A renovated dashboard and portfolio overview display aids the user in seeing performance more clearly. With a clean trading UI, and a simpler trading experience display, customers have an easier time interacting. In addition to this, they also have better visibility in the persevering process, tracking, and depiction devices to track trade.

Improved Kwenta V2X Upgrade Elevates Trading Competence for All In addition, new trade confirmations have been developed, making the transaction process more secure and more confident for all users. All needed design improvements were powerfully made throughout the platform. In this way, the Perps V2 UI, revamped through this KIP, should in future serve as the Default trading interface used by the Kwenta traders.

Additionally, Kwenta’s initial landing page will be reinvented to welcome all the building and real users. For example, offering the market tickers’ briefing, recent blogs, significant information, and actions they could take while remaining plain and easy to follow.

This update is the outgoing effort to provide the traders all the tools they need to succeed by launching a new, refined, and enhanced dash. Ultimately, this launch of an improved Kwenta V2X upgrade signifies increasing the trading competence of all traders.

AUTHOR

Umair Younas is a cryptocurrency-related content writer linked with this work since 2019. Here, at Blockchainreporter, he serves as a news and article writer. He is a crypto, blockchain, NFTs, DeFi, and FinTech enthusiast. He has strong command over writing authentic reviews about brokers and exchanges and he has collaborated with our education team to write educational content as well. He has a dream to raise awareness among people about digital currencies. His works are well-researched and brimmed with information hence they provide fresh insights. Stay tuned to his posts if you want to stay up-to-date with the crypto-verse.

Kwenta Receives Proposals to Integrate GMX and Gains Network into Perpetuals Marketplace

[PRESS RELEASE – Grand Cayman, Cayman Islands, July 26th, 2024]

Kwenta, the leading onchain perpetuals exchange on the Optimism network, has partnered with Perennial to launch a new joint product and incentive program on the Arbitrum network. This initiative, backed by a substantial 1.9 million ARB grant, aims to attract new users and liquidity providers to Arbitrum and spark renewed interest in onchain perpetuals trading.

Kwenta and Perennial’s Expansion Strategy

Kwenta, known for being a UX layer for perps trading on Optimism and Base, is expanding its reach to Arbitrum in a bid to build a comprehensive marketplace for onchain perpetuals. This move is facilitated by Perennial V2, an Arbitrum-native protocol designed to be a hyper-efficient liquidity layer for derivatives trading. The joint initiative is designed to revitalize the popular AMM model for leveraged trading by providing traders with a powerful, familiar interface to interact with smart contract liquidity.

Perennial’s vision is to create a single, global liquidity layer where all markets, all chains, and all liquidity converge into one decentralized nexus. By integrating Kwenta’s premier trading interface with Perennial’s advanced perps infrastructure, users on Arbitrum will benefit from an optimized trading experience. Trade orders on selected Kwenta markets will be seamlessly routed through Perennial, ensuring efficiency and reliability. This collaboration combines Kwenta’s top-tier trading platform with Perennial’s hyper-efficient trading infrastructure, delivering the best possible experience for traders.

Incentive Program Details

The newly launched incentive program focuses on two main areas:

Trading Rebates: Active traders will benefit from substantial fee rebates, making it more cost-effective to trade on the platform. This initiative is expected to drive trading volume and retain users. Liquidity Boosting: Liquidity providers will receive incentives to supply liquidity, ensuring deep and efficient markets. For more details on how to potentially earn rewards, users can visit Kwenta’s Rewards Blog for trading rewards details, or visit Perennial’s Discord server for information about rewards for providing liquidity.

Team Insights

Burt Rock, Marketing Lead at Kwenta, highlighted how far onchain perps have come, stating, “We’ve seen a lot of new perpetuals markets focused on improving the user experience, but most are making huge sacrifices in terms of decentralization. We want to show people you really can build decentralized apps which are incredible to use, and even better than offchain versions.”

Kevin Britz, CEO & Co-Founder at Perennial, added, “Kwenta has been a market leader in the perp vertical, regularly pushing over $100M in OI. We’re excited to welcome them to our home on Arbitrum and expand the number of teams leveraging Perennial infrastructure. In a saturated perps landscape, combining our protocol with Kwenta’s interface will lead to increased volume, deeper liquidity, and a CEX-level user experience.”

Future Outlook

The introduction of this incentive program represents a crucial step in the evolution of Kwenta and Perennial. With Kwenta concentrating on the UX and frontend aspects of trading and Perennial focusing on providing a robust liquidity layer, the collaboration is set to offer a decentralized trading experience that is both highly efficient and user-friendly. This model of specialization showcases how projects can synergize to deliver superior services in the DeFi space. The combined expertise of Kwenta and Perennial promises to elevate the standard of onchain perpetuals trading, making it more accessible and appealing to a wider audience.

For more information, users can visit Kwenta’s website and Perennial’s website. Users can also read Perennial’s launch announcement for additional details.

About Kwenta and Perennial

Kwenta: As a leading platform for derivatives trading, Kwenta has facilitated over $50 billion in volume on Optimism and Base. The platform is expanding to Arbitrum to launch its perpetuals marketplace, a single app to compare and trade on multiple onchain venues.

Perennial: Perennial is a pioneering DeFi liquidity layer that offers hyper-efficient infrastructure for a variety of trading applications. Its modular and efficient design supports customized markets, leveraging fast execution and capital efficiency to power DeFi apps.

Synthetix, Kwenta launch v3 perpetuals on Arbitrum

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Synthetix has unveiled its multi-collateral perpetual futures (Perps) on Kwenta, featuring Threshold Network’s tBTC as the primary wrapped-Bitcoin collateral asset. The integration of tBTC marks a significant development for DeFi, expanding options for users seeking decentralized, permissionless, and Bitcoin-backed trading. This announcement has been announced via its official X account.

https://twitter.com/synthetix_io/status/1851680954676580750?s=46

Why Synthetix Chose Threshold Network’s tBTC? Threshold Network’s tBTC offers a range of unique features that make it ideal for decentralized finance (DeFi) applications. It is backed 1:1 with Bitcoin (BTC) and enables users to mint and redeem tBTC without centralized control or KYC requirements. Furthermore, tBTC is backed by 24/7 on-chain, auditable reserves, ensuring transparency and building user trust in its decentralized custody system.

The DeFi community has already embraced tBTC widely, with 82 integrations across six blockchain networks and over 1,600 holders. Moreover, the supply is already exceeding $293 million as claimed y Synthetix. Threshold’s team is known for actively expanding decentralized Bitcoin applications and is broadening the possibilities with products such as stBTC, thUSD, and SATs.

New Collateral Options for Synthetix Perps Markets The new Perps markets on Kwenta come with additional collateral options beyond tBTC, including Ethereum (ETH), Ethena USD (USDe), and USDx, Synthetix’s stablecoin native to Arbitrum. In total, the rollout encompasses 81 new Perps markets, giving users access to a more diverse and flexible trading environment.

By integrating tBTC and expanding collateral options, Synthetix is reinforcing its commitment to decentralized, multi-collateralized markets that cater to a broad spectrum of DeFi users. This will further advance its role in the decentralized trading ecosystem.

AUTHOR

Umair Younas is a cryptocurrency-related content writer linked with this work since 2019. Here, at Blockchainreporter, he serves as a news and article writer. He is a crypto, blockchain, NFTs, DeFi, and FinTech enthusiast. He has strong command over writing authentic reviews about brokers and exchanges and he has collaborated with our education team to write educational content as well. He has a dream to raise awareness among people about digital currencies. His works are well-researched and brimmed with information hence they provide fresh insights. Stay tuned to his posts if you want to stay up-to-date with the crypto-verse.

Synthetix perps DEX acquires Kwenta to unify ‘strategic priorities’ of both protocols

The recent acquisitions are part of Synthetix’s plans to become a category leader among derivative exchanges.

Ethereum-based derivatives trading protocol Synthetix announced its acquisition of leveraged token platform TLX in a token-for-token transaction, Synthetix said in a Dec. 10 blog post.

The platform is completing a thorough review and audit of all TLX products. After that, it will implement parameter improvements and redeploy all contracts, the statement said. It also plans to kick off a leveraged token incentive program in 2025.

“The acquisition of TLX will mark the first end-customer, revenue-generating product built on top of Synthetix that will be owned and operated by Synthetix. This marks a significant milestone in Synthetix’s commitment to expand its product offering and generate additional value for SNX tokenholders,” the Synthetix team wrote in the blog post.

Synthetic’s TLX acquisition came just a month after it acquired the perpetuals trading platform Kwenta in a similar deal. Synthetix and Kwenta were once one platform until 2020, when they separated to allow Kwenta to focus solely on providing industry-standard trading experiences for Sythetix’s derivatives markets.

The acquisitions are part of Synthetix’s strategy to design a decentralized liquidity layer and become a primary product issuer on top of it.

Synthetix is the sixth largest derivatives exchange by total value locked (TVL), according to DeFiLlama data. The TVL of its v3 has increased by over 1,000% in the last month, likely due to Ethereum liquidity providers migrating from V2, as Messari reported.

Synthetix Leveraged TokensLeveraged tokens are crypto derivative products that offer exposure to the price movements of an underlying asset with leverage. They are designed to amplify a user’s gains or losses and offer a more convenient means to access leverage without dealing with margin trading or holding a collateral asset.

Synthetix’s TLX acquisition allows it to go to market with a leveraged token with six months of history and performance. It is also the first in a line of structured products that Synthetix plans to launch in the coming months as it positions itself as a category leader among derivative exchanges.

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