Altcoin

ZeroSwap DEX Platform to Transform DeFi Ecosystem

Published

3 Monaten ago

Oktober 12, 2020

Its unique features give ZeroSwap an edge over the incumbents and boost its attractiveness to users.

The Decentralised Finance (DeFi) space is growing at an astonishing pace with investors keen to make the most out of this frenzy. The Blockchain developers’ community has played a significant role by providing the necessary tools to accelerate DeFi growth. Decentralised Exchanges (DEX) have been central to this movement by facilitating simple, efficient, and cheap means for participating in the space.

Through DEXes, users are able to provide and access liquidity, invest in token offerings and trade various digital assets. Unfortunately, due to the limitations of the existing DEXes, users are not able to conduct all of these operations on a single platform. Rather, they are forced to juggle between different DEXes to access their preferred service and cryptocurrencies. ZeroSwap intends to put an end to this hassle by providing all these solutions on a single platform.

What is ZeroSwap?

ZeroSwap is a multi-chain protocol for liquidity mining, market making, DeFi Token Offering, and DEX Aggregation. The decentralised platform provides all of these services at zero cost to the users that is enabled by transaction fee mining.

ZeroSwap’s mission is to empower the DeFi ecosystem by creating more robust technology to help others within the space to become efficient, faster and simpler. To achieve this goal, the ZeroSwap team is building their platform on both Ethereum and Binance Smart Chain with development on other protocols set to follow soon. Upon completion, users will be able to make both on-chain and cross-chain trades without paying any fees. Instead, the platform will reward its users with the native ZEE tokens for every transaction and providing liquidity to existing DEXes. To ensure the self-sustainability of these feeless trades, a percentage of the tokens will be burnt for each instance.

ZeroSwap Valuation Analysis

ZeroSwap is a promising project with unique attributes that differentiate it from other decentralised platforms. The analysis of these attributes coupled with peer and DEX ecosystem reviews helps paint a clear picture of the project’s huge potential and shows why it is a highly valued project.

Photo: Zeroswap

ZeroSwap Core features

ZeroSwap is no ordinary DEX but rather a versatile one-stop shop for all DeFi operations. It is a one of its kind platform that grants users access to a wide range of blockchain-based financial products and services from various networks. This is enabled by the following features:

Gasless Transactions — All on-chain trades and addition/removal of liquidity will be processed via gas-less transactions, this will happen through transaction fee mining.
Zero-Fee — Addition/removal of liquidity and trading on protocol would be at ZERO Cost.
Rewards — Users will earn rewards from Liquidity Mining and every time they make an on-chain trade and provide liquidity.
DEX Aggregation — the platform aggregates liquidity from all the existing protocols to facilitate the best rates.
Governance — A unanimous governance mechanism to govern the ZeroSwap Protocol changes over time.
Developer Friendly — ZeroSwap SDK, is easy to build and integrate with existing workflows.

ZeroSwap Utilities

ZeroSwap’s core features support its multiple functionalities and grant users access to a wide range of services. These are available through this set of utilities:

Liquidity mining – Users can earn rewards by pooling in liquidity to DEX via ZeroSwap
DeFi Token Offering – A unique platform to kickstart DeFi Token Launch with ZERO cost
Market Making Suite – ZeroSwap SDK – Ubiquitous Market Making Suite for DeFi, Empowering on-chain trading truly
Multi Chain – ZeroSwap will be a Multi-Chain protocol, starting with Ethereum and Binance Smart Chain

Peer Analysis

DEXes are gradually stamping their authority in the crypto ecosystem as their uptake grows with time. As a result, the popularity of entities such as Uniswap, Sushiswap, and Paraswap has risen remarkably over the past few years. ZeroSwap’s entry into the scene couldn’t have come at a better time as users are flocking to these platforms that serve as gateways to the DeFi space. The platform will greatly appeal to such users as it offers over and above what is currently provided by its peers.

For instance, ZeroSwap’s multi-chain functionality will help users leverage earning opportunities available on different blockchains through a single platform. Existing DEXs are built on a specific protocol with users able to interact with only the products and services based on such a network. This unique feature boosts ZeroSwap’s superiority as users can do more as compared to platforms such as Uniswap.

DeFi Ecosystem Review

ZeroSwap entry into the DEX space is perfectly timed with DeFi growing at an explosive rate as more people are entering into the sector. Monthly DEX volume peaked at $12 billion in Aug. 2020, thanks to the ever-increasing demand for DeFi products. The total value locked in DeFi is currently over $10.81 billion according to DefiPulse. This translates to more than 200% Year on Year growth to date and rising. By the end of 2020, this figure could potentially eclipse the 300% growth recorded in 2019.

DEXes have performed remarkably well in comparison to their centralised counterparts. DEXes processed a total volume of $4 billion in 2020 with a year to date returns of 241% for DEX tokens as compared to 44% for CEX tokens. In Aug. 2020 DEXes surpassed CEX daily volume for the first time with UniSwap’s $426 million eclipsing Coinbase $348 million. This trend looks set to continue with UniSwap’s $15.3 billion monthly volume in September surpassing $13.6 billion processed by Coinbase.

These figures are indicators of the surging demand for DeFi as the sector is slowly becoming an ideal alternative to the mainstream financial market. More importantly, the statistics show how DEXes are maturing and positioned to take over the market.

With the sector bearing such positive propositions, the stage is set for ZeroSwap to succeed. Its unique features give ZeroSwap an edge over the incumbents and boost its attractiveness to users. This effective combination positions ZeroSwap to take over the DEX space making it a very attractive investment for 2020.

Altcoin News, Blockchain News, Cryptocurrency news, News

Having obtained a diploma in Intercultural Communication, Julia continued her studies taking a Master’s degree in Economics and Management. Becoming captured by innovative technologies, Julia turned passionate about exploring emerging techs believing in their ability to transform all spheres of our life.

Source link

Related Topics:DeFi DEX Ecosystem Platform Transform ZeroSwap

Up Next

Price analysis 10/12: BTC, ETH, XRP, BCH, BNB, LINK, DOT, ADA, LTC, CRO

Don't Miss

DeFi traders blame YFI price collapse on shorting by Alameda Research

Click to comment

Altcoin

OKCoin to Suspend XRP Trading and Deposit from January 4, 2021

Published

1 Stunde ago

Dezember 29, 2020

According to the announcement, the XRP deposit and trading would be disabled on January 4, 2021, as the lawsuit proceedings are taking place.

OKCoin has announced its intention to suspend XRP trading and deposit following the recent lawsuit against Ripple Lab, the company behind the asset, and two executives. This is a huge blow as panic withdrawal has been triggered with investors under pressure to switch to other assets. Coinbase has also announced that they will halt XRP trading in the coming year amid the reported lawsuit. The price of XRP has been affected heavily having dropped from its yearly high to as low as $0.22 especially in a period that is supposed to be a celebration for a bull run.

OKCoin Announcement Related to XRP

According to the announcement, the XRP deposit and trading would be disabled on January 4, 2021, as the legal proceedings take place. OKCoin also pointed out two different timelines for the suspension. The first one has to do with users who have borrowed from the XRP/USD margin pair. Those who fall under this category have until 7:00 PM PST January 13, 2021, to return the borrowed value. Users who refuse to abide by this will have to face an automatic liquidation by their system to end the loan contracts as reported by the exchange.

The second suspension timeline has to do with the spot trading, margin trading, and deposit. Customers who fall within this category should be aware that the above-mentioned activities would be suspended starting from 7:00 PM PST on January 14, 2021. OKCoin noted that the ongoing legal battle will take time to resolve, and there is no known date for the legal proceeding to end. For this reason, they will inform their customers when they get access to any information that can influence the change of their position.

The Legal Battle

The US Securities and Exchange Commission has sued Ripple for the illegal sale of securities. This was revealed by the Ripple CEO Brad Garlinghouse in a recent interview. SEC, unlike Ethereum and Bitcoin has refused to recognize XRP as a currency. XRP was premined, and a lion-share of its units are within the possession of Ripple in an escrow, and periodically released into the market.

Garlinghouse argues that they do not tap the reserve funds anyhow as they please. According to him, XRP has become increasingly decentralized in recent times as it has been recognized as a bridge currency for cross-border transactions. In another part, he accused the Trump administration of being hostile to the cryptocurrency market.

He, therefore, believes that the incoming administration may certainly create a favorable environment for cryptocurrency. Also, he assured that they will not allow themselves to be bullied by the SEC, but instead, they will fight for the entire cryptocurrency ecosystem.

Garlinghouse believes that treating XRP as security controlled by Ripple is equal to treating oil as security controlled by Exxon Mobil Corporation (NYSE: XOM).

next Altcoin News, Cryptocurrency news, News, XRP

Excellent John K. Kumi is a cryptocurrency and fintech enthusiast, operations manager of a fintech platform, writer, researcher, and a huge fan of creative writing. With an Economics background, he finds much interest in the invisible factors that causes price change in anything measured with valuation. He has been in the crypto/blockchain space in the last five (5) years. He mostly watches football highlights and movies in his free time.

Source link

Altcoin

Grayscale’s AUM Hits $19B, Up from $16.4B Announced Week Ago

Published

2 Stunden ago

Dezember 29, 2020

While it may be too early to project the possible performance of Grayscale in 2021, the spate of patronage the company recorded in the last two quarters of 2020 looks quite inspiring.

In what confirms the continued embrace of Bitcoin (BTC) and altcoins by institutional investors and the big-money clients, Grayscale’s total Assets Under Management (AUM) has been reported to top $19 billion, a significant uplift from the $16.4 billion reported a week ago. According to a report by CoinDesk, Grayscale hit this AUM milestone on December 28, and Grayscale’s Bitcoin Trust holds by far the largest chunk of the total assets at $16.3 billion.

The recent rally of Bitcoin to new highs as recorded in the past days started as a chain reaction that took its precedent months ago when Wall Street firms and institutional investors began betting big on Bitcoin. The investment made by the likes of MicroStrategy Incorporated (NASDAQ: MSTR), Square Inc (NYSE: SQ), and PayPal Holdings Inc (NASDAQ: PYPL) did not just help put Bitcoin in the limelight through mainstream media, it also prompted the embrace of the digital assets by other firms.

With this chain reaction, the price of Bitcoin continued to soar in response to boosted demand for the coin, and institutions like Grayscale that serves institutional investors benefited from this new demand, and hence, the continued increase in the firm’s AUM. Besides BTC, Grayscale’s Ethereum (ETH) AUM is now worth $2.1 billion, while the bulk of smaller holdings in Litecoin (LTC), XRP, and ZCash amongst others helped Grayscale’s total AUM to reach the new milestone.

Grayscale’s AUM May See More Boost in 2021

While it may be too early to project the possible performance of Grayscale in the coming year 2021, the spate of patronage the company recorded in the last two quarters of 2020 makes the case for improved performance provided the tempo is sustained.

Just as has been noted earlier, the continued embrace of cryptocurrency assets by highly liquid companies will continue to have a positive reaction on the price of Bitcoin, and by extension, this will even make more people pick interest in BTC. As a relatively young asset class, Bitcoin and altcoins have tremendous room to grow as the adoption rate is still not optimized owing to certain regulatory provisions in most countries, Grayscale and other hedge funds have enough room to compete for new clients entering the space.

With Grayscale been among the institutions at the forefront of helping to drive the acceptance of BTC, ETH, and other digital currencies, enjoying the dividends of its works through impressed AUM figures does not come as much of a surprise.

next Altcoin News, Bitcoin News, Cryptocurrency news, News

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.

Source link

Altcoin

RIOT Stock Registers Unprecedented Rally, Riot Blockchain Valuation Soars Above $1B

Published

2 Stunden ago

Dezember 29, 2020

Following the Bitcoin all-time high on Sunday, December 27, Riot Blockchain stock registered 20% gains on Monday’s trading session. The stock has already appreciated by 13x this year. Apart from BTC, investors of Bitcoin mining companies are making a bomb in the market.

Bitcoin mining giant Riot Blockchain is making all the news in the market at the moment. On Monday, December 28, Riot Blockchain Inc (NASDAQ: RIOT) stock price surged a massive 20% surging past $15.5 levels. One of the biggest milestones with the Monday rally is that the Riot Blockchain has clocked a $1 billion market cap.

The latest price rally comes as Riot Blockchain hints at going aggressively on its Bitcoin mining business. Last week, the Riot Blockchain added new S19 Pro Antimers to its bitcoin mining arsenal. The company announced the purchase of an additional 15,000 Bitcoin (BTC) mining machines from Bitmain. The recent purchase also pushes Riot’s total fleet to 37,640 Next-Generation Bitmain Antminers.

Riot said that the fresh purchase of Antminers will help the mining company to attain a 65% jump in its mining hash-rate. RIOT stock has registered an unprecedented rally this year in 2020. RIOT stock has multiplied by 13x this year registering a 1200% surge so far.

Riot Blockchain has issued nearly 17 million shares since November 2020 with its total outstanding shares going to 67.5 million. It has been a phenomenal journey for Riot ever since it ventured into the Bitcoin mining business in October 2017. With valuations less than $50 million back then, Riot has grown more than 20x in size as of its latest stock price.

RIOT Stock and Shares of Other Bitcoin Mining Companies Profit from BTC Bull Run

The recent Bitcoin (BTC) price rally during Q4 2020 has also pushed the stocks of Bitcoin mining companies to new highs. Earlier on Sunday, December 28, the BTC price hit its all-time high of $28,000 in a massive bull run followed by huge institutional inflows.

Moreover, along with the BTC price rally, the Bitcoin hash-rate has jumped significantly since November 2020. Over the last two months, the BTC hash-rate has surged nearly 30% and is currently at 132 TH/s. The surge in the hash-rate suggests higher mining activity for Bitcoin.

As a result, Bitcoin mining companies have been making massive purchases of the BTC mining machines. In addition to Riot Blockchain, other giants like the Marathon Patent Group have made aggressive purchases over the last few months. Just like RIOT, the Marathon Patent Group (NASDAQ: MARA) has registered a phenomenal rally of 18% on Monday, December 28. MARA stock has multiplied investors’ wealth by 12x in 2020. It means the MARA stock has also given phenomenal 1100% returns year-to-date.

next Bitcoin News, Blockchain News, Business News, Cryptocurrency news, Market News

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

Source link