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CoinEx Lists ONES Token First and Launches Initial Trade Offering with OneSwap’s Official Launch

19/09/2020 by Idelto Editor

OneSwap to List ONES Token and Launch Initial Trading Offering on CoinEx

OneSwap is a groundbreaking new DeFi project offering a decentralized exchange protocol on a smart contract, with permission-free token listing and automated market making. It offers multiple advantages over other swaps including the ability to preform limit orders and a user friendly interface that resembles familiar trading platforms. OneSwap now lists the ONES token first and launches an “Initial Trade Offering” on the popular CoinEx exchange that has made a strategic investment in the project.

DeFi Your Expectations With OneSwap

CoinEx, a global cryptocurrency exchange service provider, is the first to have listed OneSwap’s ONES token. The exchange also initiated an “Initial Trade Offering” (ITO) event for ONES, where users can get corresponding mining reward from conducting an effective transaction since September 19. Rules for the ITO are also now publicly available.

OneSwap is an on-chain one-stop trading service platform which combines the automated market makers (AMM) model that attracted a lot of investors to DeFi projects recently with an on-chain order book. This allows it to offer the best of both worlds from decentralized exchanges and traditional trading platforms, such as supporting limit orders. The protocol requires no permission to create a market or charges any fees for token listing. Users can inject liquidity into OneSwap’s trading pair capital pool with their idle digital assets and earn transaction fees as liquidity providers. The platform also provides popular trading analysis tools including candlestick chart, order ticket, depth map, price trends and trading volumes.

The ONES token will be used to facilitate on-chain governance and distribute rewards. Users with a minimum amount of ONES can initiate proposals and all holders can vote on the proposals in the community as a way of on-chain governance. According to the whitepaper, 5% of tokens are set for initial mining rewards and 45% are set for forward mining. The forward mining rewards are mainly meant to support liquidity mining, transaction mining, community construction and development, promotion and publicity events and project partnerships.

What’s more, ONES is a deflationary token in that it is repurchased and burned automatically by the token repurchase contract. 40% transaction fees generated in the Pair contract will be used to repurchase and burn ONES.

Founded in December 2017, CoinEx is a professional cryptocurrency exchange providing trading services in over 100 locations around the world. It is a subsidiary brand of the ViaBTC Group, which owns the fifth largest BTC mining pool and is also the largest BCH mining pool in the world. In July 2020 CoinEx announced it has strategically invested in OneSwap as the first project for its $50 million Ecosystem Development Fund after researching dozens of DeFi projects worldwide.

CoinEx Initial Trade Offering Event for ONES

CoinEx has first launched ONES worldwide on September 18. On September 19 CoinEx also launches an “Initial Trade Offering” event that will run for 20 days. During this period users can get ONES as a reward by trading on CoinEx (no limit on tokens, trading pairs or markets). The total daily reward is 25,000 ONES, of which 20,000 ONES is for spot trading (including margin trading) and 5,000 ONES goes to perpetual contract trading. Participants can also use CET as fees and enjoy VIP fees discount at the same time.

OneSwap also officially supports yield farming and order mining simultaneously from September 19. Compared with other swaps, OneSwap has introduced the lossless order mining on the basis of yield farming. It is common sense for DeFi investors that any deviation in the token price under the AMM model will cause losses to investors in yield farming. The order mining pioneered by OneSwap can provide DeFi investors with a more robust investment method. It does not sacrifice any liquidity, and users can cancel transactions at any time without causing losses due to market changes.

To learn more about how OneSwap works see the whitepaper on the project’s website, and check out CoinEx’s announcement for further information about the ITO. See the rules for yield farming and order mining here.

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NFT Digital Art That Changes With Bitcoin Price Volatility Sold for Record $101,000

19/09/2020 by Idelto Editor

Matt Kane’s “Right Place & Right Time,” a non-fungible token (NFT) digital artwork that changes every day with the bitcoin price volatility, claims the artist, has been sold for a record 262 ether or $101,100 on blockchain platform Async Art.

According to a description of the artwork on Async Art’s website, a new composition for the master is generated independently each day based on BTC’s volatility and price action from the previous 24 hours.

The work is composed of what the platform calls “layers”. Kane’s piece has 24 of these. Each hour’s price programmatically controls rotation, scale, and position of a correlating layer, it says. Viewers can surmise the day’s price volatility by examining the artwork. However, it appears that the artist himself might have some influence on the variations.

“It’s humbling. I’m most excited I’ve helped open price levels for other digital artists to have their work taken seriously and begin making a living from art sales,” said Chicago-born Kane, in a statement shared with news.Bitcoin.com.

“Until we could prove provenance and scarcity on the blockchain, how we sold digital art was prehistoric by comparison,” added the artist, who wrote the code, which generates the daily image changes.

Token Angels, a crypto-focussed angel investor, and art collector, bought Kane’s piece. Variations of the artwork will be minted over the next 10 years and the artist will periodically put an NFT digital art on market to represent an important day in the life of Bitcoin. This NFT will also grant its token holder the right to purchase a physical print.

“As a nod to Bitcoin’s 21 million fixed supply, the collector receives 21% revenue share of the individual NFT and print sales and there will only be 210 NFTs minted,” said Matt Kane. The artistic experiment will run as a creative counterpart to Bitcoin, using visualized volatility to aid the artist in mining 210 NFTs, he explained, adding:

I’ll be investigating what a decentralized artwork can evolve into, as proof-of-work necessitates increasing challenges over time. But just like Bitcoin, the passage of time will be required in order to observe the grander masterpiece that is at work.

Async Art says more than $2.3 million has changed hands on the platform since launch in February 2020. Artist sales have totaled over $400,000, it says.

Built on the Ethereum blockchain, the platform specializes in something called programmable art – “digital paintings split into ‘layers’, which you use to affect the overall image.”

More than $109 million worth of NFTs has been sold throughout the world since such sales started a few years ago, according to data from nonfungible.com. That’s from 4.82 million pieces sold at an average price of $22.65.

What do you think about Matt Kane’s bitcoin-based NFT? Let us know in the comments section below.

The post NFT Digital Art That Changes With Bitcoin Price Volatility Sold for Record $101,000 appeared first on Bitcoin News.

MCS, First Exchange to list TRON’s SUN and Klaytn’s KLAY Futures Contracts

19/09/2020 by Idelto Editor

Singapore, September 20, 2020 — For the first time in the industry, MCS (MyCoinStory), a global cryptocurrency derivatives exchange announced the listing of SUNUSDT futures contract on September 18, 2020. Just a day prior to this launch, KLAYUSDT futures contract was released on September 17, 2020, which also was the first futures contract listing in the industry.

The SUN token used in SUNUSDT futures is the most distinguished experimental DeFi (Decentralized Finance) project token by the TRON Foundation in these days. The data published by TRON Foundation claims that 6.7 billion TRON were staked during the SUN’s Genesis Mining period which is approximately $191 million. The KLAY token in KLAYUSDT futures is the native currency of the Klaytn blockchain developed by Ground X, a subsidiary of Kakao Corporation.

This series of futures contracts release is called the “Colorful Quanto”, a series of quanto products with ‘colorful’ characteristics and variations.

A quanto contract refers to a derivative instrument that is settled as another asset instead of either the base currency or the counter currency in a trading pair. MCS’s first quanto product, KLAYUSDT futures, and the recently released SUNUSDT are both settled in BTC with a BTC margin, not in the base currency USDT or the counter currencies KLAY and SUN, respectively. MCS is focusing on introducing more unique quanto futures products before other exchanges do.

The representative of MCS quoted that “there are many cryptocurrencies traders show great interests, and often these cryptos fluctuate a lot. By listing more quanto futures products on MCS, we can give a variety of trading options true traders can enjoy and benefit from.”

Meanwhile, a bounty program and a trading competition with a prize pool of 10,000 KLAY are currently undergoing, and more events for SUNUSDT futures are expected in the near future.

For more info, contact [email protected].

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* MCS (MyCoinStory)

MCS (MyCoinStory.com) is the next-generation cryptocurrency perpetual contract trading platform created by experts from the financial and blockchain industries.

Together with a team of experts, MCS is walking side by side with traders’ to access financial freedom in the best way possible by creating a reliable trading environment for traders which includes enterprise-level IT systems, multilingual online customer support, and a partnership with the industry-leading digital asset custodial company, ‘BitGo’.

MCS is constantly improving its trading platform for traders so that traders can dream of a better future. As the slogan #Be_a_Trader shows, MCS is focused on giving every trader in the platform the authentic ‘trading’ experience through various features and training materials.

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.

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How a Spoof Turned Into a Media Hype About Bitcoin Cash

19/09/2020 by Idelto Editor

An anonymous Bitcoin Cash (BCH) supporter says he deliberately started a spoof which successfully baited local media to report on the coin. The trick, which involved the use of 100 Bitcoin Cash tip stickers, only cost a total of $1,100 yet it managed to get BCH featured by media outlets in Bakerfield.

Explaining the success of the ruse, the anonymous BCH supporter, who also goes by the name Bitcoin Man, says he printed “around 100 Bitcoin Cash tip stickers, stuck them all over downtown Bakersfield, took photos where he placed them, then went home.” He adds that each tip had a “clue to where the “Golden $500″ Bitcoin Cash sticker was.”

Next, the anonymous BCH supporter says he photoshopped fake social media accounts with their faked comments about people winning tips for spotting and scanning the stickers. After taking screenshots of the faked social media comments, the Bitcoin Man then shared these in a few Bakersfield Facebook groups where he asks “have you guys heard about this? Everyone on Facebook is talking about it!”

According to him, this strategy “eventually created real curiosity from some locals” and “ultimately a Reddit thread was posted about this.” After this, interest grew and soon real people began to look for the stickers and were winning tips.

Many of the real winners would contact the Bitcoin Man who in turn encouraged them to spread the word to media outlets. As the strategy was going according to plan Bitcoin Man explains, he had a different plan of handling the media:

“The media doesn’t care about your technical philosophical rant, they just want a soundbite.”

Therefore, to get the media buying into his ultimate objective, the Bitcoin Man decided he would tell them that “I’m doing this to help people” if asked about the reasons for his efforts. He says this is better than making a rant because as he understands it, the media is “not going to want to interview someone if the message is too complicated. The news is fast food information – so give them that.”

After seeing his elaborate plan working to perfection, the Bitcoin Man is now encouraging others that are passionate about BCH to do the same saying “you don’t need to give away $1,000 to accomplish this. Even a simple $100 would work.”

What do you think of the Bitcoin Man’s idea of promoting BCH? Tell us what you think in the comments section below.

The post How a Spoof Turned Into a Media Hype About Bitcoin Cash appeared first on Bitcoin News.

Ethereum’s Gas Spike Forces Coinbase Pro to Pass Network Fees to Customers

19/09/2020 by Idelto Editor

While Ethereum network fees have jumped to new highs this year, the popular cryptocurrency exchange, Coinbase Pro, announced that the trading platform would be passing network fees onto customers. The move followed the exchange listing Uniswap’s native token UNI, an airdrop that saw miners collect close to $1 million in gas in less than an hour.

The decentralized finance (defi) ecosystem has seen significant demand in 2020, but it has also contributed to the Ethereum (ETH) network’s rising fees. Ethereum miners are collecting a massive amount of revenue from gas payments, as miners are capturing between $700k to $850k per hour or 700 gwei per transaction.

ETH fees have touched an all-time high in 2020 and defi lending applications, yield farming, and decentralized exchange swaps (dex) have bolstered high fees.

The centralized exchange (cex), Coinbase Pro announced on Thursday that network fees will now be passed down directly to their customers.

“Starting today, Coinbase Pro will pass along network fees directly to our customers,” the exchange tweeted. “These fees (sometimes referred to as “gas fees” on the ETH blockchain) are paid directly to crypto miners that process transactions and secure the respective network,” the San Francisco-based exchange further added.

Meanwhile, on social media, a number of people got upset about the announcement, while others said that alternative blockchain networks were more beneficial. “Once again, this showcases the use case for low fee transaction blockchains like Bitcoin Cash (BCH),” the BCH proponent David Shares tweeted to Coinbase Pro in response to the fee announcement.

A few other individuals expected the move and said that any profitable company would do the same.

“A lot of people seem upset at this but it just makes sense to me,” one individual wrote. Transactions are actually getting expensive now and they’re running a business so that’s why they have to up their prices.”

Coinbase Pro detailed that in the past, the San Francisco firm absorbed the network fees for the customer. “Historically, Coinbase Pro has absorbed these fees on behalf of our customers. However, as crypto has begun to gain broader adoption in applications like defi, payments, and other projects, networks have gotten busier,” the company’s followup tweet said.

Additionally, Coinbase detailed that the company does not charge people for transferring funds between two different Coinbase accounts. “To ensure a smooth experience for our customers and reasonable transaction processing times, Coinbase Pro will charge a fee based on our estimate of the network transaction fees that we anticipate paying for each transaction,” the company concluded.

What do you think about Coinbase Pro passing on network fees to customers? Let us know what you think about this subject in the comments section below.

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