Daily Archives: September 8, 2021

Bill Miller’s Hedge Fund Sees Bitcoin Having ‘Significant Upside Potential’ as Digital Gold

Bill Miller's Hedge Fund Sees Bitcoin Having 'Significant Upside Potential'

In a report filed with the U.S. Securities and Exchange Commission (SEC), the fund managers for the Miller Opportunity Trust, Bill Miller’s hedge fund, state that “bitcoin has significant upside potential as a form of digital gold.” The report details that despite its volatility, bitcoin’s “risk-reward is attractive.”

Hedge Fund Manager Sees Bitcoin’s ‘Significant Upside Potential’

Miller Value Funds’ semi-annual report for the Miller Opportunity Trust, filed with the U.S. Securities and Exchange Commission (SEC) last week, states:

We believe bitcoin has significant upside potential as a form of ‘digital gold.’

The Miller Opportunity Trust hedge fund has $2.72 billion in assets under management (AUM) as of July 31. Its portfolio managers are Bill Miller and Samantha McLemore.

“We have been observers of bitcoin for a long time and during the quarter, the fund received approval to invest in Grayscale Bitcoin Trust (GBTC), which is an open-ended grantor trust fully invested in bitcoin,” the report details. “In the quarter, as bitcoin fell, the trust traded at one of its larger discounts to its underlying holdings in bitcoin providing additional upside potential.”

As of June 20, the fund holds 1.5 million shares of Grayscale Bitcoin Trust (GBTC) valued at $44,715,000, the report filed with the SEC shows.

The fund managers added, “With gold’s market capitalization greater than $11 trillion, bitcoin’s current cap close to $600 billion would have a long way to go to catch up,” elaborating:

We are early in a continuing adoption curve and bitcoin will be volatile but we think the risk-reward is attractive.

Veteran investor Bill Miller has long been a bitcoin proponent. In May, when the price of bitcoin fell from $58K level to below $34K, he said it was “pretty routine.” Miller added that the correction was “right in line with moves we have seen many times in bitcoin.” In April, he disagreed with some analysts that bitcoin was in a bubble. Instead, he said bitcoin was entering the mainstream as demand grew faster than supply.

Do you agree that bitcoin has significant upside potential as digital gold? Let us know in the comments section below.

Russia Not Ready for Bitcoin as Legal Tender, Putin’s Spokesman Peskov Says

Russia Not Ready for Bitcoin as Legal Tender, Putin’s Spokesman Peskov Says

Russia has no reason to recognize bitcoin, President Putin’s press secretary has noted after El Salvador became the first country to adopt the digital coin as legal tender. In a statement to the press, Dmitry Peskov revealed he is convinced that such a move would not bring any benefits to the Russian Federation.

Kremlin Not Open to Bitcoin Adoption in Russia

The government in Moscow sees no reason to recognize bitcoin at this point, according to Dmitry Peskov, press secretary of Russian President Vladimir Putin. Describing it as a quasi-currency, the Kremlin representative insisted that equating bitcoin to official monetary instruments wouldn’t do anything but harm Russia’s financial and economic system. Speaking to reporters, Peskov emphasized:

Clearly, Russia is not ready for such steps.

The statement, quoted by RIA Novosti news agency on Tuesday, came as the Republic of El Salvador became the world’s first country to recognize bitcoin (BTC) as legal tender for payments in its jurisdiction. On Sept. 7, El Salvador’s Bitcoin Law came into effect, making the leading crypto by market cap a national currency alongside the U.S. dollar, as Bitcoin.com News reported.

Residents of the small Central American nation can now pay for goods and services using the cryptocurrency as all prices can be denominated in BTC. Furthermore, taxpayers can use bitcoin to cover their obligations to the state. On Monday, President Nayib Bukele revealed his government had also started purchasing BTC, later announcing that the country had acquired 200 coins, bringing the total it holds to 400, and then “buying the dip” with another 150 coins when the price fell to below $43,000.

Russia, on the other hand, is a long way from accepting any cryptocurrency as legal tender. Moscow partially regulated coins and tokens with the new law “On Digital Financial Assets” which entered into force at the beginning of this year. Its provisions recognize cryptocurrencies as property but prohibit their use for payments.

According to the country’s current legislation, the national fiat ruble remains the only legal tender, and “money surrogates” are banned in the Russian Federation. Bank of Russia, the country’s central bank which has categorically opposed the adoption of decentralized digital money, is preparing to launch a digital ruble prototype by the end of 2021.

Russian media reported in May, however, that members of the State Duma, the lower house of Russia’s parliament, had started working on amendments to the Civil Code that would permit the use of crypto assets as contractual means of payment. If approved, the changes will allow parties to a contract to pay each other with cryptocurrency, only under the terms of their agreement.

Do you think Russia will change its position on cryptocurrencies in the future? Share your expectations in the comments section below.

CoinFLEX Announces Its Major Milestones of 2021

PRESS RELEASE. Since early August, CoinFLEX has seen a tremendous increase in trading activity, climbing to a staggering high of $3 billion USD daily trading volume with Open Interest over $200 million dollars. The increase in trading volumes and market liquidity are indications of CoinFLEX’s rapid adoption.

CoinFLEX’s repo volume has also seen a significant increase, with total trading volumes surpassing $120 billion. The repo market is vital to the CoinFLEX ecosystem as its profits fuel flexUSD’s competitive APRs.

On CoinFLEX and other futures exchanges, futures markets have a lot of trading activity, creating “basis.” Basis is the price differential between spot trades and futures contracts. flexUSD is deployed through the repo market to take advantage of the price difference.

For this reason, although flexUSD offers variable market-based interest rates, current users are experiencing high APRs. When there’s a dislocation between the spot and futures price, a trading bot will arbitrage the price difference and pay flexUSD holders on-chain every 8 hours.

Last month, flexUSD experienced one 8-hour window of 70% APR and an average 16.58% 7-day APR. These rates are extremely attractive compared to other DeFi lending platforms that see low single-digit APRs or, worse, saving accounts in traditional banks that see 0.01% APRs.

flexUSD Marketcap Hits $100M

With the competitive APRs that flexUSD offers, it’s no surprise users have minted $100 million of the stablecoin as a safe and secure way to generate high-yielding passive income.

AMM+

While flexUSD is showing interest rates that are magnitudes higher than those generated through its DeFi and TradFi counterparts, users of CoinFLEX’s AMM+ are reporting even higher rates.

AMM+ TVL hit $99 million. The market volatility was felt most significantly in AMM+ volume, which soared to an incredible $933 million.

Although AMMs generally require more active participation than managing stablecoin deposits such as flexUSD, providing liquidity on the AMM+ requires far less effort than running traditional market-making operations. Instead of needing the skills of a professional market maker and actively managing trade positions, with the AMM+ anyone can put on an AMM position and begin trading.

The AMM+ benefits the CoinFLEX ecosystem by providing liquidity to all CoinFLEX markets. This creates a far better trading experience for AMM+ users, as it allows users to execute trades more accurately and effectively.

Thank you FLEXers

“Who can we thank for this incredible growth? FLEXers, both old and new. August has seen our highest number of new users, largely coming from the DeFi community thanks to our recent Metamask integration. This means signing up for a CoinFLEX account can be done in just a few clicks with your Metamask wallet!”

CoinFLEX Pushes to Decentralization

Chainlink Partnership

CoinFLEX has partnered with Chainlink to integrate decentralized price feeds to the system. This will serve as an additional layer of reliability, becoming the default source of price data in the unlikely event that our systems become unresponsive for a short period of time. This will give us a constant, decentralized source of price information.

Decentralized Custody

CoinFLEX is also excited to announce its continued commitment to decentralization with the introduction of decentralized custody later this year. CoinFLEX will be decentralizing private key ownership of outgoing withdrawal transactions. This means CoinFLEX will not be able to have any control over their customer’s account activity, unlike other centralized exchanges. This is the type of customer protection users can experience with a hybrid CEX-DEX model.

In addition to decentralized custody, users benefit from CoinFLEX’s impressive seven-year track record in custodying crypto assets. This outlines how seriously CoinFLEX takes security and gives users peace of mind that their assets are secure from any threat from both internal and external factors.

SmartBCH

CoinFLEX is a major participant in the Smart Bitcoin Cash, or smartBCH, ecosystem, serving as the primary centralized bridge before the decentralized “SHA Gate” solution is live.

smartBCH is a sidechain for Bitcoin Cash that is designed to be fast and have inexpensive transactions. It is also EVM compatible, so it can bridge with the Ethereum network and provide high throughput for decentralized applications in a fast, secure, and decentralized manner. To further explore how to earn and trade crypto in the CoinFLEX ecosystem, check out www.coinflex.com.

To further explore how to earn and trade crypto in the CoinFLEX ecosystem, check out www.coinflex.com.

 

About CoinFLEX

Founded in 2019, CoinFLEX is the Home of Crypto Yield and is committed to providing institutional and retail investors an easily accessible platform to earn and trade crypto.

CoinFLEX creates innovative solutions to bring investors and crypto markets together through intuitive yield products such as flexUSD, the world’s first interest-earning stablecoin, and AMM+, the most capital-efficient automated market maker in the world. CoinFLEX is backed by crypto heavyweights, including Roger Ver, Mike Komaransky, Polychain Capital, and Dragonfly Capital.

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This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

Salvadoran Government’s Chivo Wallet Experiences Hiccups, Some Residents Can’t Claim $30 BTC Reward

Salvadoran Government's Chivo Wallet Experiences Hiccups, Some Residents Can't Claim $30 BTC Reward

On the day El Salvador implemented the bitcoin tender law, the official government wallet called the Chivo wallet had some initial issues for five hours on Tuesday. Residents could not leverage the application and had issues accessing the app on Apple’s App Store and Google Play. The situation seems to be resolved now as Salvadoran president Nayib Bukele explained on Twitter that the Chivo wallet’s “maintenance” was complete.

Chivo Wallet Down Five Hours for ‘Maintenance,’ Bukele Says ‘Take It Slow,’ Google Play Servers Were ‘Saturated’

El Salvador now has the U.S. dollar and bitcoin (BTC) as the nation-state’s legal tender following the implementation of the Bitcoin law on Tuesday, September 7, 2021. In addition to creating the law, Salvadoran president Nayib Bukele and his government have been buying BTC in mass quantities and have also developed crypto infrastructure for the nation’s citizens. For instance, the Salvadoran government launched the Chivo wallet which allows users to accept bitcoin (BTC) for goods and services.

Salvadoran Government's Chivo Wallet Experiences Hiccups, Some Residents Can't Claim $30 BTC Reward
El Salvador legalized bitcoin (BTC) in the country and the day the law went into effect, users had myriad issues with the Chivo wallet.

However, on the day El Salvador implemented the bitcoin tender law, many Salvadorans had issues with the Chivo wallet. Users complained that they could not download the application via Google Play and Apple’s App Store. Bukele took to Twitter telling citizens to take it “slow” and that the Google Play store is “the most used store in El Salvador, so we have opened [the Chivo wallet launch] in parts and thus not saturating the servers.”

Chivo wallet issues also stemmed from users who did not have the right version of Samsung’s Galaxy brand smartphone. Bukele added:

Chivo wallet is now available in Google Play, but only for versions of the Samsung Galaxy S20 and Samsung Galaxy S21.

Number 1 App in Apple’s Finance Section in El Salvador, Complaints About Not Receiving the $30 Bitcoin Gift

Bukele also exclaimed that in El Salvador, the Chivo wallet was the “number 1 finance app in the [Apple App Store] in just 8 hours.” But immediately after Bukele tweeted that statement the complaints from Salvadorans having issues with the Chivo wallet rolled in.

Salvadoran Government's Chivo Wallet Experiences Hiccups, Some Residents Can't Claim $30 BTC Reward
This resident says: “I don’t even get it in the Play store.”

“President, I already downloaded and installed it,” one individual wrote. “But now that I want to open it… only this appears for me and I have had this for a long time, and it does not resolve.”

Salvadoran Government's Chivo Wallet Experiences Hiccups, Some Residents Can't Claim $30 BTC Reward
Many Salvadoran residents shared screenshots of the Chivo wallet verification failure.

Others have been complaining that the $30 worth of free bitcoin (BTC) that was promised was not showing up after they uploaded identification. “There are people who registered but could not take a photo of the DUI or the selfie because the system [shut down], and that $0 BTC appears within the app, what solution is there?” a Salvadoran citizen asked the president. Another person responded to the person who said funds were not being delivered to people’s wallets and said:

The same thing happened to an aunt, when she was going to take the selfie [but] the system closed and when she started again, $0 BTC came out. Any solutions, please?

All of the aforementioned comments and many more stem from a tweet from Bukele explaining that the five-hour downtime for maintenance was over. “We have finished today’s maintenance of the Chivo wallet,” he said. “Report any malfunction here, in the comments,” the Salvadoran president added.

Meanwhile, Bitcoin.com News downloaded the Chivo wallet this morning with no issues, and the application was installed without any errors. The free $30 is reserved for Salvadoran residents only and in order to obtain the funds, a Chivo wallet user must upload identification.

What do you think about the Chivo wallet’s hiccups on Tuesday? Let us know what you think about this subject in the comments section below.

Meet the First BCH Dex Built on Smartbch — Benswap.cash Presents High-Yield Liquidity Pools, Noncustodial Swaps

Meet the First BCH Dex Built on Smartbch — Benswap.cash Presents High-Yield Liquidity Pools, Noncustodial Swaps

Decentralized finance (defi) has set a trend during the latter half of 2020 and into this year, as statistics show $168 billion is locked in defi across various blockchains. The Bitcoin Cash network now has the Smartbch protocol and in recent times, a decentralized exchange (dex) platform has joined the defi fray. The newly launched Smartbch dex platform benswap.cash gives users the ability to earn via liquidity pools, and swap tokens in a noncustodial fashion.

Bitcoin Cash Supporters Flock to Benswap.cash for 1,000% APY and Decentralized Trading

Five months ago, the BCH community anticipated the benefits of a project that combines the forces of Bitcoin Cash (BCH) with the Ethereum (ETH) network. The project is called Smartbch, a smart chain that maximizes the throughput of EVM and Web3 on a sidechain of Bitcoin Cash.

Smartbch has matured quite a bit since Bitcoin.com News reported on the project successfully launching three nodes. Now BCH community members have been leveraging a dex trading platform called benswap.cash, a clone of the dex benswap.finance.

Meet the First BCH Dex Built on Smartbch — Benswap.cash Presents High-Yield Liquidity Pools, Noncustodial Swaps

Basically, the ability to earn yields and swap tokens in a noncustodial manner is now possible using bitcoin cash (BCH), the Smartbch sidechain, the SEP20 token protocol, and benswap.cash. The dex benswap.cash operates similarly to swapping platforms like Uniswap, Pancakeswap, and Sushiswap. In order to leverage benswap.cash you will need a wallet like Metamask to interact with the Smartbch network and connect with benswap.cash.

A Comprehensive Guide for Smartbch Newbies, Leveraging the Coinflex Bridge and the ‘Green Ben’ Token

In order to get started, there are a few prerequisites, which are explained in comprehensive detail in a guide posted to the blogging site read.cash. The Smartbch for newbies walkthrough written by “Moregainstrategies” shows the reader how to configure Metamask to work with the Smartbch network.

Furthermore, the blog post explains that for the time being, the only bridge to access sBCH is via the trading platform Coinflex. Because sBCH is required, anyone looking to test the network’s capabilities must swap bitcoin cash (BCH) for sBCH. The only cost a person will pay when swapping BCH over to the SEP20 token sBCH will be BCH network fees.

Meet the First BCH Dex Built on Smartbch — Benswap.cash Presents High-Yield Liquidity Pools, Noncustodial Swaps
Benswap.cash is compatible with noncustodial Web3 wallets like Metamask. Users need to connect to the Smartbch network and obtain sBCH via the Coinflex bridge. Read.cash author “Moregainstrategies” published a detailed guide on how to obtain sBCH, use sBCH with Metamask, and the benswap.cash dex.

Coinflex only requires an email address to register, however, a person can also simply use Metamask and avoid registration. After the account is registered or tethered to a Metamask wallet, the user needs to deposit bitcoin cash (BCH) into the Coinflex wallet. After the funds have been confirmed, the user can withdraw but instead, they need to withdraw sBCH using the SEP20 standard.

The Metamask wallet address is the address needed to send the sBCH to, and after a small wait, the sBCH should arrive in the wallet. From here, benswap.cash can be used to either swap Smartbch tokens or join a yield farm in order to gather passive income from their liquidity tokens. For instance, on the benswap.cash platform there is a section where swaps can happen for Smartbch tokens like “$cats,” “arg,” “green ben,” “honk,” and more. The token green ben (EBEN) is the native token for benswap.cash and is also leveraged for governance decisions.

Meet the First BCH Dex Built on Smartbch — Benswap.cash Presents High-Yield Liquidity Pools, Noncustodial Swaps
Benswap.cash offers staking.

At the time of writing, a single green ben (EBEN) is trading for $2.4826019 per EBEN and there is a circulating supply of 5,723,529 EBEN today. The price per EBEN and the number of tokens in circulation give the coin a market cap of around $14.2 million. In addition to being able to swap tokens in a noncustodial fashion, users can stake LP tokens to earn EBEN via liquidity pools.

Meet the First BCH Dex Built on Smartbch — Benswap.cash Presents High-Yield Liquidity Pools, Noncustodial Swaps
The native token for benswap.cash called green ben (EBEN).

Current Smartcash Farms Show Yields Between 200% and 1,000%+ APY

The current annualized percentage yields (APY) for benswap.cash liquidity pools are quite high. For instance, the EBEN-BCH liquidity pool at the time of writing gives a user 1,070% paid in EBEN, minus fees. There’s also the $CATS-BCH and $CATS-EBEN liquidity pools which have current APYs between 210% and 290%. It should be noted that APYs hosted on benswap.cash can fluctuate like the myriad other dex applications that offer liquidity pools.

Meet the First BCH Dex Built on Smartbch — Benswap.cash Presents High-Yield Liquidity Pools, Noncustodial Swaps
Benswap.cash users can join LP token yield farms. Bitcoin.com News readers should note that benswap.finance and the clone for Smartbch are in the midst of being audited by Certik Security. Defi applications always come with risk and users should do due diligence before they leverage any defi application.

It should also be noted that benswap.cash is a clone of the BSC dex benswap.finance, which is in the midst of being audited by Certik Security. This means the audit is not yet complete; all dex applications come with risks, and users should leverage due diligence and make sure their wallet’s network settings and token contracts are not malicious or falsified. Audited or not, traders should never invest more than they are willing to lose on any dex application.

Bitcoin cash fans have been discussing the benswap.cash dex regularly on the forum r/btc and on Twitter. The r/btc Reddit forum has a number of posts that discuss how benswap.cash works and that it’s the first dex to build on top of the Bitcoin Cash (BCH) network.

What do you think about the Smartbch project and the benswap.cash dex? Let us know what you think about this subject in the comments section below.

Edward Snowden Says Competing Nations Now Under Pressure to Acquire Bitcoin Following El Salvador

Edward Snowden Says Competing Nations Under Pressure to Acquire Bitcoin Following El Salvador

Following El Salvador making bitcoin legal tender, privacy activist and whistleblower Edward Snowden says, “there is now pressure on competing nations to acquire bitcoin — even if only as a reserve asset.” He warned, “Latecomers may regret hesitating.”

Edward Snowden Warns Countries That Hesitate Adopting Bitcoin May Regret Their Decisions

Former computer intelligence consultant for the National Security Agency (NSA) and contractor for the Central Intelligence Agency (CIA), Edward Snowden, commented on El Salvador making bitcoin legal tender Tuesday. He tweeted:

Today Bitcoin was formally recognized as legal tender in its first country. Beyond the headlines, there is now pressure on competing nations to acquire bitcoin — even if only as a reserve asset — as its design massively incentivizes early adoption. Latecomers may regret hesitating.

El Salvador’s Bitcoin Law went into effect on Sept. 7 and BTC is now a national currency alongside the U.S. dollar. Nayib Bukele, the president of El Salvador, also revealed Tuesday that his government has purchased 550 BTC.

Snowden is not the only one expecting other countries to follow in El Salvador’s footsteps and adopt bitcoin. Dante Mossi, the executive president of the Central American Bank for Economic Integration (CABEI), said that if adopting bitcoin as legal tender goes well in El Salvador and the cost of remittances drops substantially, “other countries will probably seek that advantage and adopt it.”

Even Bank of America sees benefits in adopting bitcoin as legal tender for El Salvador. “Bitcoin could be used as an intermediary for cross-border transfer … Using bitcoin for remittances could potentially reduce transaction costs compared to traditional remittance channels,” the bank wrote in early August. In addition, global investment bank JPMorgan said in June that the move by El Salvador could be “the beginning of a broader trend among similarly situated, smaller nations.”

Do you agree with Edward Snowden? Let us know in the comments section below.

US SEC Threatens to Sue Crypto Exchange Coinbase, CEO Brian Armstrong Responds

US SEC Threatens to Sue Crypto Exchange Coinbase, CEO Brian Armstrong Responds

The U.S. Securities and Exchange Commission (SEC) has threatened to sue the Nasdaq-listed cryptocurrency exchange Coinbase over its lending product. The exchange says, “We don’t know why … We got no explanation from the SEC.”

Coinbase Threatened by SEC

Coinbase revealed Tuesday that it received a Wells notice from the SEC last Wednesday about its planned Lend program. A Wells notice is the official way a regulator tells a company it intends to sue the company in court.

In a blog post titled “The SEC has told us it wants to sue us over Lend. We don’t know why,” Coinbase explained that it has been “proactively engaging with the SEC about Lend for nearly six months” so the notice came as a surprise. The company described that the Lend product will “allow eligible customers to earn interest on select assets on Coinbase, starting with 4% APY on USD coin (USDC).”

The Nasdaq-listed crypto exchange detailed:

The SEC told us they consider Lend to involve a security, but wouldn’t say why or how they’d reached that conclusion … In June, we announced our Lend program publicly and opened a waitlist but did not set a public launch date. But once again, we got no explanation from the SEC. Instead, they opened a formal investigation.

The SEC asked Coinbase for various documents, which the company said it “willingly provided.” However, the regulator “also asked for the name and contact information of every single person on our Lend waitlist,” which Coinbase said it has not agreed to provide.

Coinbase noted: “The SEC has repeatedly asked our industry to ‘talk to us, come in.’ We did that here. But today all we know is that we can either keep Lend off the market indefinitely without knowing why or we can be sued … The net result of all this is that we will not be launching Lend until at least October.”

Coinbase CEO Brian Armstrong took to Twitter to share his thoughts and clarify the situation with the SEC early Wednesday morning.

“Some really sketchy behavior coming out of the SEC recently,” he began, adding:

Ostensibly the SEC’s goal is to protect investors and create fair markets. So who are they protecting here and where is the harm? People seem pretty happy to be earning yield on these various products, across lots of other crypto companies.

“Shutting these down would arguably be harming consumers more than protecting them, and by preventing Coinbase from launching the same thing that other companies already have live, they’re creating an unfair market,” he argued.

Armstrong further opined: “If we end up in court we may finally get the regulatory clarity the SEC refuses to provide. But regulation by litigation should be the last resort for the SEC, not the first.”

Shark Tank star and owner of the NBA team Dallas Mavericks, Mark Cuban, offered his opinion on the subject. He told Armstrong: “Brian, this is ‘Regulation via Litigation.’ They aren’t capable of working through this themselves and are afraid of making mistakes in doing so. They leave it to the lawyers. Just the people you don’t want impacting the new technologies. You have to go on the offensive.”

What do you think about the SEC’s action against Coinbase? Let us know in the comments section below.

Revive Project to Revolutionize Crypto Investments and NFTs With Unique Ecosystem

PRESS RELEASE. The Revive Project’s Unique ecosystem offers the crypto community a chance to be a part of and benefit from its unique investment platform and NFT marketplace.

Zug, Switzerland — The Revive Project is a revolutionary platform that will allow the blockchain community to come together to invest in crypto and develop exciting NFT projects. Revive has created an unique ecosystem for NFT and crypto investments, governed by its native utility token, PULSE. The ecosystem uses a 10% transfer commission to benefit its community of users in a variety of different ways.

Revive Project – Building an Ecosystem

The Revive Project is developing right now 3 innovative platforms:

  • Revive Wallet: Store & Vote

The Revive Wallet will have an impressive level of application and functionality, specifically the ability to vote for upcoming Revive developments. The Revive Wallet and PULSE token will be specially combined so they can be integrated 100% in the Revive NFT Marketplace, Revive Academy and Revive Exchange. The Revive Wallet will be the gate for accessing these innovative platforms.

  • NFT Marketplace & Academy – Learn, Create and Market NFTs

The Revive NFT Marketplace aims to revolutionize, innovate and simplify the way NFTs are created and developed. Exclusive, and only accessible for PULSE holders, the NFT Academy helps guide creators through their journey as NFT developers.

Eduard Ifrim, CSO of Revive Project, stated:

“The Revive Marketplace and Academy combine in a unique way to completely simplify the marketing, investment and development processes behind NFTs. “

  • Revive Exchange – a new kind of CEX

The Revive Exchange will be the cherry on top of the entire Ecosystem. Its goal is to create a trading environment where we will be able to give the opportunity to all Pulse holders to invest in new and innovative financial derivative crypto products.

Marius Smochina, CEO of Revive Project, stated:

“We have already in our team some great minds from the financial sector with whom we will develop the Revive Exchange. We have some incredible ideas on how to connect all the points in the Ecosystem to create outstanding derivative assets which will be tradable from next year when we will launch the Exchange. “

Revive Ecosystem & Certik Audit

The Revive Ecosystem is designed specifically to encourage long-term holding and discourage token sell-offs, with the express intention of securing maximum benefits to its token holders. To achieve this, from each PULSE transaction the Smart Contract takes a 10% commission which is reappropriated across four areas:

  • 1% goes directly to token holders’ wallets.
  • 5% goes into the Revive Basket, an investment vehicle which uses a Smart Contract to automatically buy tokens from the selected Blockchain Projects. To start off, the basket will invest in FileCoin, Certik, Venus, TrustWallet and Cake.
  • 2% goes into the Revive Launchdome, a platform for funding new crypto projects. Yields from the Launchdome will be intermittently dispersed to the token holders.
  • the final 2% is crucial for constantly injecting token liquidity in PancakeSwap pair Pulse/BNB

For all this to work, the Revive Project’s code was audited by the well known company, Certik – you can find it here

Token Holder Benefits

The benefits for PULSE token holders are vast and strongly encourage long-term token holding. Although the financial benefits of token holding are huge, the knowledge, skills and understanding of NFT creation and marketing could end up holding even more value.

Pulse token holders will receive:

  • 1% commission from every transaction
  • Profits from Revive Basket
  • Profits from Revive Launchdome
  • Profits from the Revive NFT Marketplace & Academy
  • Profits from the Revive Exchange
  • The opportunity to automatically enter the Revive NFT Marketplace, Academy, and Revive Exchange
  • Special discounts on fees
  • The right to vote and special offers.

Pulse Tokenomics

There is a total and maximum supply of 1 billion PULSE tokens, which have been allocated in a structure that uses a vesting period for team members and investors (here)

WhiteBIT Listing

Following the Public Sale, Pulse token will be listed on DEX on PancakeSwap and on CEX on WhiteBIT shortly after.

Eduard Ifrim, CSO of Revive Project, stated:

“We chose WhiteBIT as the first CEX to list Pulse token on, because they have a very user friendly trading platform, very good volume and they are very careful with their security: WhiteBIT stores 96% of the digital assets on cold wallets and use WAF to detect and block hacker attacks, so the user’s funds are safe on the exchange.”

What is Next For Revive?

With the Smart contract development, Certik audit and Revive Basket analysis already completed, the project is looking to the expansive phase of its roadmap, following the Public Sale. Before the full launch of the Revive product line in 2022 the company will raise its token accessibility by partnering with more exchanges (WhiteBIT is already signed) and diversify its basket portfolio through its community voting process.

 

Media Contact Details

Contact Name: Eduard Ifrim

Contact Email: [email protected]

 

Revive Project Socials

Blog | Twitter | Telegram | Facebook | Whitepaper | Team

 

Revive Project is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest

 


This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

Chairman of Nigerian Economic Crimes Commission: Crypto Growth Is a ‘Far Greater Danger to the World Economy’

The chairman of Nigeria’s Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa, has singled out the growth of cryptocurrencies as something that now poses “a far greater danger to the world economy.” Therefore, in order to deal with such dangers or threats, Bawa advocates for a “collective and collaborative approach by authorities around the world.”

Economic Crimes Harm the Global Financial System

According to a report by Vanguard, the EFCC chairman made these remarks while speaking at a symposium organized by the Centre for International Documentation on Organized and Economic Crime (CIDOEC). Meanwhile, at the same meeting which was organized to discuss the cost of economic crimes and who should foot this bill, Bawa is quoted explaining why countries must collaborate on this. He said:

[Economic crimes] affect the vital structures of global economies, causing significant damage to the global financial system and depriving developing nations of the needed resources for sustainable development.

Bawa also warned that developed countries, just like their less developed counterparts, are not immune from a scourge that has been magnified by “the proliferation of cyber-crimes which threatens the stability of global financial institutions.” To drive home this point, Bawa uses the example of how criminals are now choosing “to transact or receive illegal monies [such as ransom money]for cyber-attacks in cryptocurrencies.”

Economic Crime Victims Must Not Bear the Cost

In the meantime, the EFCC chair also delved into the topic of who should bear the costs of economic crimes. The report quotes Bawa explaining his viewpoint on this matter. He said:

“As the victims of crime continue to suffer globally from the effects of financial crimes, either directly or indirectly as part of a social system, the determination of who pays or who should pay becomes a critical measure of the criminal justice system in place.”

Still, the EFCC chairman is adamant “that perpetrators and not the victims” should be made to pay for the crimes.

Do you agree with Bawa’s remarks about cryptocurrencies? Tell us what you think in the comments section below.

Central Bank of Brazil Director States Government Will Know ‘Everything You Have in Bitcoin’

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Mauricio Moura, a current director of the Central Bank of Brazil, stated that anonymity won’t be a choice when making cryptocurrency transactions in the country. The representative stated that, sooner or later, all users would have their transactions identified by the government. These comments came at an event promoted by the Institute of Professionals for the Prevention of Money Laundering and Terrorism Financing.

Central Bank of Brazil: ‘Anonymity Won’t Be an Option’

Mauricio Moura, director of citizenship relations and supervision of conduct for the Central Bank of Brazil, stated that the coming regulation could ban anonymity in cryptocurrency transactions made in the country. Moura stated that the central bank is currently devising ways to achieve this objective jointly with the Brazilian Securities Commission. He declared:

I can’t say much. But the names of those involved in cryptocurrency operations will be known end-to-end. I can say that anonymity will not be an option.

Currently, all exchanges and companies in Brazil must report their operations and the operations of their customers to the regulator. But some of these companies still aren’t complying with this mandate. Moura didn’t detail how the bank would accomplish the planned objective.

Crypto Regulation Coming

Brazil is in the process of issuing a complete regulatory system for cryptocurrency assets, and the Central Bank of Brazil is included in the institutions that have a say in this process. In June, a law project that proposes a fixed period for establishing cryptocurrency regulations was introduced in Congress. While it is still awaiting approval, it would give the government 180 days to propose and approve a system to regulate and tax cryptocurrencies like normal bank transactions.

There is another commission that is currently focusing directly on the regulation of cryptocurrencies in the Chamber of Deputies. However, even with all these institutions trying to regulate crypto, the market keeps growing, and more companies are integrating crypto-related solutions into their operations.

This is the case of Visa, which recently announced it will integrate cryptocurrency solutions with traditional banking. But more importantly, the vice president of new business in Brazil has stated the company will be testing direct bitcoin payments this year. This suggests regulation is not scaring big players still interested in joining the cryptocurrency market or embedding crypto into existing platforms.

What do you think about the stance on cryptocurrency transactions that the Central Bank of Brazil has taken? Tell us in the comment section below.