Pancakeswap

MemeBank to List On Pancakeswap on June 7th

02/06/2022 by Idelto Editor

PRESS RELEASE. There are more than 300 crypto-exchanges nowadays, almost all of them offer the same mediocre features that are identical to the leading exchanges such as Binance. MemeBank is not a lazy copy of the successors but an ambitious project that aims to drive revolutionary changes. According to its official announcement, MemeBank($MBK) will soon be listed at Pancakeswap on June 7th, 2022.

The development team defines the project as a centralized exchange that solely focuses on the listing and trading of memecoins, tokens with high growth potential and strong appeals among young adults. The famous resemblance is Dogecoin, which was a lazy copy of Bitcoin originally designed to be used for paying restaurant tips. The price of the token skyrocketed by 500x in only two years. However, behind the success of Dogecoin are many memecoins that got left behind. On average, there are 20-30 new blockchain project launches per day and most of them will die out because of the lack of follower-base and early marketing. To help increase projects’ survivabilities, MemeBank introduces a vote-to-list solution that effectively facilitates public acceptance of projects. MemeBank is a CEX that charges no listing fees, instead, projects only need to raise a sufficient amount of upvotes in order to be listed.

As Alec Rubal, one of the MemeBank co-founders pointed out, “An exchange can’t make money when its users can’t profit from it.” MemeBank is not only startup-friendly but starter-friendly. The team since the beginning has aligned their interests closely with those of the users. Its tokenomics demonstrates a set of Web3 traits including the management of trading fees. Most CEXs do not list memecoins and startup projects, whereas DEXs usually charge a higher trading fee. MemeBank integrates the advantages of both into one, a CEX that offers memecoin trading while charging considerably lower trading fees. Not only that, the exchange circulates 100% of the trading fee back to the community to pay dividends to $MBK holders as well as rewarding users who make referrals. The tokenomics in itself indicates a sustainable growth in the user-base of MemeBank.

What is even more interesting is the upcoming features of MemeBank which have yet to be seen in the industry. The development of MemeBank revealed in an earlier statement that the project will also focus on the gamification and socialization of crypto-trading, which seems like a reverse-engineering of GameFi. First, MemeBank introduces a PVP competition where two users can bet on their monthly rate of return or the future market price of a particular token, both users need to submit their betting amount to the exchange prior to the competition. When the competition is over, MemeBank will decide the winner and distribute the reward accordingly. A leaderboard will be put up to rank users based on their PVP win-rate. Users who have higher win-rate are granted a series of privileges including official NFTs and highlighted name-tag.

MemeBank is also going to introduce the tribal system which works like a spontaneously organized mutual fund. Every user at MemeBank can create their own tribes, and others can pay a monthly subscription fee that goes to the tribal treasury to join the tribe. The tribe founder serves as a portfolio manager who invests the tribal treasury into different projects. The tribes will also be ranked on a leaderboard based on their net annualized return and the size of tribal treasury. Users can also see how much the tribal founder has put into the fund to grasp if there is a strong interest alignment.

Regarding the socialization part, every project listed on MemeBank has a separate live-chat where users can share memes, thoughts and financial analysis of the project. To make sure that the best investors are the loudest, users who have higher win-rate will be given prioritized speaking privilege as well as message pinning. The project leads can also update their project development and news at the live-chat. With this feature available, MemeBank will become a one-stop platform that satisfies the needs of both socializing and investing.

Among all the blockchain projects we see, only those whose dev team puts brain-power and sweat into it can finally succeed, and MemeBank with such level of innovation will surely become the next rising star of crypto-exchanges after Binance.

Media Contact

Company: MemeBank

Contact: Alec Rubal

E-mail: [email protected]

Website: www.memebank.com

Source: MemeBank

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.

Biggest Movers: AVAX, RUNE up Over 10%, as CAKE Surges 20% on Thursday

17/03/2022 by Idelto Editor

AVAX was once again higher on Thursday, rising for its fourth consecutive session, as it further cements itself in the crypto top ten. Although RUNE was also trading by as much as 15% higher, it was CAKE that led Thursday’s gainers.

Pancakeswap (CAKE)

Pancakeswap (CAKE) rose to its highest level in almost four weeks on Thursday, as it moved away from its recent lows.

Following a bottom of $5.37 on Wednesday, which was close to a one-year low, CAKE/USD climbed by as much as 21% today.

CAKE rallied to an intraday high of $7.19 in Thursday’s session, which is its highest level since February 21.

This high came as price strength also gained, blowing past its recent ceiling on the 14-day RSI indicator in the process.

Since passing the resistance of 42, the RSI is now tacking at 50.65, which is marginally above another ceiling at 49.15.

Should this momentum continue, we could see CAKE tracking at $8.35.

Avalanche (AVAX)

Avalanche (AVAX) further cemented its place as the world’s tenth-largest cryptocurrency on Thursday, as it rose by as much as 15% on the day.

As of writing this, AVAX/USD rallied for a fourth consecutive session today, rising to a high of $81.48 in the process.

This follows a peak of $73.83 on Wednesday, and brings the seven-day average gain to 10.35%, despite recent bearish market sentiment.

Looking at the chart, the 10-day moving average continues to approach the 25-day, which is setting the scene for a potential upward cross.

One of the only visible hurdles is the fact that we are currently trading close to the resistance level of 56 on the 14-day RSI.

Will current momentum be enough to take AVAX beyond this point? Let us know your thoughts in the comments.

Value Locked in Defi Sheds $55 Billion in 2 Months, Ethereum’s Defi Dominance Loses 14%

06/03/2022 by Idelto Editor

The crypto-economy has been sliding in value during the last 48 hours as the current market valuation for all 13,000+ crypto assets is $1.83 trillion. Furthermore, the total value locked (TVL) in decentralized finance (defi) protocols has slipped below the $200 billion mark to $196.02 billion on Sunday morning (EST). Meanwhile, Ethereum’s dominance is 55.54% of the current aggregate TVL held in defi today with $108.88 billion.

Value Locked in Defi Protocols Sink, Ethereum Loses Decentralized Finance Dominance

The value in defi protocols has slipped from the $251 billion mark at the end of December 2021, to today’s current $196.02 billion. That’s a drop of around 21.91% in USD value during the last two months.

On Sunday, March 6, 2022, the current TVL held in defi has increased 0.11% during the last 24 hours with Curve Finance dominating the protocol pack. Curve’s $17.88 billion TVL represents 9.12% of the TVL held in defi, as it increased 0.64% during the last week. Curve is followed by Makerdao ($15.15B), Lido ($12.79B), and Convex Finance ($12.58B).

Ethereum still dominates the TVL in defi this weekend, but only by 55.59%, according to defillama.com chain stats. On October 5, 2021, ETH defi dominance was 69% and over the last five months, it shed 14% dominance. Today, Terra holds the second-largest defi TVL with $22.67 billion locked, and more than half locked into the Anchor protocol.

Terra is followed by BSC ($11.71B), Avalanche ($10.74B), and Fantom ($7.69B) in terms of TVL held in defi protocols on Sunday. Solana’s defi TVL this weekend is $6.83 billion down more than 5% during the last seven days.

At press time, there are 381 decentralized exchange (dex) platforms holding a combined TVL of around $64.65 billion. Coingecko.com data shows Uniswap v3 is the top dex this weekend with $856.6 million in 24-hour volume.

Uniswap v3 is followed by Pancakeswap ($317M), Spookyswap ($270M), Curve ($155M), and Astroport ($155) in terms of daily dex volumes. The top three leading smart contract platform tokens in terms of seven-day gains include waves (WAVES) up 51% this week, lisk (LSK) up 28.9% and wanchain (WAN) jumped 23.6%.

On March 6, there’s currently $23.37 billion total value locked in cross-chain bridges to Ethereum, according to Dune Analytics’ metrics. Leading cross-chain bridge TVLs include blockchains like Avalanche, Polygon, Fantom, Ronin, and Arbitrum respectively.

Presently there are 25 decentralized finance (defi) oracles and Chainlink dominates the pack. Chainlink secures $52.23 billion in value across 141 protocols, as it has an oracle dominance of around 54.83% on Sunday morning.

What do you think about the activities tied to the decentralized finance (defi) space? Let us know what you think about this subject in the comments section below.

Value Locked in Defi Continues to Slide, ETH Defi Dominates by 65%, Solana Transactions Reign

17/12/2021 by Idelto Editor

The total value locked (TVL) in decentralized finance has slid 15.63% since the metric’s all-time high of $275 billion sixteen days ago on December 1. Since the end of the first week of December, the TVL is down 7.19% lower with a number of protocols seeing seven-day losses in terms of TVL.

Defi Tokens YFI and CVX See 7-Day Double-Digit Gains, Aggregate Locked in Defi Slips Close to 3% to $243 Billion

According to statistics, decentralized finance (defi) tokens represent $132.6 billion or roughly 5.79% of the entire $2.28 trillion crypto economy. The largest defi token in terms of market capitalization is terra (LUNA), which commands 18% dominance and a market valuation of around $23.9 billion. The top two performing defi assets during the last week were yearn finance (YFI) and convex finance (CVX). Yearn finance jumped 33% in value this past week and convex finance increased in value by 26.3%.

Meanwhile, the defi tokens tokemak (TOKE) and bonfida (FIDA) saw the deepest weekly losses last week. Tokemak lost 31.6% in value last week and bonfida shed 28.7% in USD value. The top decentralized exchange (dex) on Friday is Uniswap version 3 with $2 billion in 24-hour volume. Uniswap (v3) is followed by Pancakeswap, Trader Joe, Biswap, Sushiswap, Uniswap (v2), Raydium2, and Curve Finance, respectively.

There’s been $6.2 billion in 24-hour dex trade volume and 158,035,713 monthly visits to dex protocols. According to defillama.com, the aggregate total value locked (TVL) across a myriad of blockchains is $232 billion with Curve dominance at 9.17%. Curve’s TVL is $21.28 billion and it supports seven different blockchains.

Ethereum Still Dominates the Defi Landscape, Solana Transactions at 45 Billion, Cross-Chain Bridge TVL Slides 3.4% Last Month

Out of all the recorded defi blockchains, Ethereum commands $159.64 billion TVL in defi today which equates to 65.44% of the aggregated defi TVL. Binance smart chain (BSC) is the second-largest blockchain in terms of TVL in defi today. BSC has a $16.53 billion TVL on Friday which is roughly 6.77% of the $243.94 billion locked in defi. The chains that follow BSC include Terra, Solana, Avalanche, Tron, Polygon, and Fantom, respectively. Out of all the chains this past week, the only top-ten defi chains that gained a higher TVL percentage were Fantom (3.52%) and BSC (1.75%).

Statistics from Coin98 Analytics indicate that in terms of the total transactions for blockchain networks Solana holds the reins with 45 billion. Solana’s transaction dominance is followed by Tron (2.68B), BSC (2.09B), Ethereum (1.39B), Polygon (1.19B), HECO (534M), and Algorand (464M). As far as the number of validators on popular blockchains, Coin98 Analytics metrics show Ethereum has 270,322 validators, while Elrond has 3,222.

Lastly, as far as the TVL in cross-chain bridges is concerned, there’s $22.73 billion in cross-chain bridge TVL today. There’s been a 3.4% loss in TVL during the last 30 days and Ronin Bridge commands the top position with $6.4 billion. Ronin is followed by Avalanche ($5.88B), Polygon ($5.83B), Arbitrum ($2.3B), Fantom ($1.3B), and Optimism ($433M).

What do you think about the state of decentralized finance (defi), decentralized exchange (dex) applications, and the total value locked in these blockchains? Let us know what you think about this subject in the comments section below.

Value Locked in Defi Slips 5% in 24 Hours, AMM and Rebase Tokens Take Double-Digit Losses

05/12/2021 by Idelto Editor

Since mid-November the total value locked (TVL) in decentralized finance (defi) has slid from $257 billion to $250.55 billion and during the last 24 hours it lost a touch more than 5%. Over the last seven days, defi tokens like uniswap, pancakeswap, curve dao token, 1inch and sushi have lost anywhere between 15% to 23.9% in value.

Defi TVL Drops — Curve, Makerdao and Convex Finance Dominate

At the time of writing, the TVL in defi protocols across a myriad of blockchains is $250.55 billion, according to metrics from defillama.com. The aggregate defi value locked has lost 5.08% during the last day, and the protocol Curve dominates most of the TVLs listed with 8.07% dominance.

The automated market maker (AMM) Curve commands $20.23 billion TVL which is up 1.13% this past week. Makerdao is the second-largest defi protocol TVL with $18.56 billion at the time of writing. The third-largest defi protocol TVL belongs to Convex Finance with $15.14 billion today.

Ethereum Defi TVL Dominance 65%, Binance Smart Chain 6%, Terra 5%

TVL per blockchain shows that Ethereum commands $164.36 billion of the $250.55 billion in defi on Sunday. Binance Smart Chain (BSC) captures $16.61 billion and the chain is the second-largest chain in terms of defi protocol TVLs.

Following BSC is Terra ($13.29B), Avalanche ($12.03B), Solana ($12.46B), and Tron ($5.48B). At the time of writing, Ethereum commands 65.58% of the $250.55 billion of value locked in defi. While BSC commands 6.62% dominance, the TVL in Terra captures 5.30%.

Rebase and AMM Defi Tokens Slide —Crosschain Bridge TVL Slips 26% in 30 Days

Statistics from coingecko.com indicate that the total market capitalization of the top automated market maker (AMM) defi tokens has dropped 13.6% to $17.2 billion. Additionally, metrics show that rebase tokens have lost 5.1% to a low of $6.09 billion on Sunday.

The top AMM crypto asset uniswap (UNI) has shed 15% during the last seven days. Uniswap is followed by pancakeswap (16.7%), curve dao token (27.2), 1inch (26.3%), sushi (23.9%), and bancor token (10.1%).

Rebase tokens such as olympus (OHM) shed 17.1% this past week while wonderland (TIME) has lost 18.5%. Klima dao (KLIMA) is down 50.6% during the last seven days and ampleforth (AMPL) lost 17.7%.

Monthly stats show cross-chain bridge TVLs have slipped 26.9% and today there’s $24.40 billion TVL in bridges to Ethereum, according to Dune Analytics. The leader is the Ronin bridge with $6.9 billion and Avalanche has $6.6 billion and Polygon has $5.6 billion.

What do you think about the state of decentralized finance (defi) today? Let us know what you think about this subject in the comments section below.