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A Defi Project plans to launch a ‘Soft-Pegged Stablecoin” built on Terra

DEFI

Football Fever is Infecting DeFi Project with Excitement

press release

PRESS RELEASE. Doha, Qatar: For the next couple of weeks, over a billion people are glued to the TV every day watching players of their favorite team working brilliantly together to win the ultimate prize. This time, what’s truly different is the role crypto plays in football. Christiano Ronaldo released NFT collections and team fan tokens.

And now, leading communities in crypto are joining football fever and even using it as an opportunity to bring crypto to the masses. With this World Cup, billions will learn about the Web3 ways of working together and winning big thanks to the Binance Football Fever 2022 campaign that allows anyone to get their football fever on while having a chance to win part of the $1,000,000 in prizes.

The DeXe DAO community, being a close partner of Binance and running a number of joint activities with them, has also joined Binance’s Football Fever in true DAO fashion — by proposing and passing onchain a sponsorship of Binance Football Fever. Football fans now have the opportunity to win $DEXE tokens and learn about DeFI. The DeXe community is full of football enthusiasts. The project is all about teamwork in Asset Management and DAO Management so Binance’s partnership was a natural fit with the DeXe DAO.

In Asset Management, traders have skills but need more capital to win big. Investors have the capital, but they need traders that can trust them to manage it. DeXe’s platform for asset management gives traders freedom to trade and is well-rewarded. Investors get transparency and multilayer security to protect their capital. DeXe maximizes your chances of winning while minimising the risk of losing — a world-class approach worthy of a World Cup.

Can you imagine if players on the pitch would get rewarded for how many passes they made rather than for scoring? This team would not win even a single game. This World Cup has proven that even teams with lower star power can still defeat those who are more talented on paper. It is important to be effective. DeXe coordinates incentives in DAO management so community members are rewarded for their most efficient DAO activities. Onchain proposals can also be used to modify any aspect of the DAO. DeFi is like football. It’s important to make it easy for people to score, defend and adjust strategies to maximize their actions.

With DeXe’s and Binance’s involvement in the World Cup media hype, football fans can both cheer for their favorite teams and learn more about DeFi. Binance and DeXe’s efforts to promote crypto among football fans could lead to the next World Cup being run on-chain.

About The Dexe Network

Dexe Network is an Asset and DAO Management platform that brings the dreams of DeFi into practical reality by giving fund and DAO creators the power to effectively, quickly, and securely grow their organizations. DeXe allows traders to become managers in the same way that they trade, and DAOs can be governed in an autonomous and decentralized manner thanks to on-chain governance and proper incentives. DeXe’s Ambassador Program has laid the groundwork for community-generated rewards for effective DAO participation.

Contact via email for more information: info@dexe.network


This is a press release. This is a press release. Readers are responsible for their own research before making any decisions about the promoted company, or any of its affiliates. Bitcoin.com does not assume any responsibility for any loss or damage caused or alleged by the use or reliance of any content, goods, or services mentioned in this press release.

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Smart Contract Tokens Drop $22 Billion in 36 Days to Lock Defi Value at its Lowest Point since March 2021

Value Locked in Defi Is at Its Lowest Point Since March 2021, Smart Contract Tokens Shed $22 Billion in 36 Days

Smart contract platform tokens, and decentralized finance protocols (defi), have suffered a severe blow since the FTX crash last week. The market capitalization of all the smart contract platform tokens in existence lost more than $22 billion during the last 36 days. The total value locked (TVL) in defi protocols has dropped to $43 billion, the lowest defi TVL since the first week of March 2021.

Smart contract Tokens and Defi protocols See Significant Value Reductions since FTX’s Collapse

Decentralized Finance and smart contract platform tokens suffered a lot during the week following the FTX collapse. Today, smart contract platform tokens are much lower in value, as a large number of coins shed 8% to over 20% during the last seven days.

Value Locked in Defi at Its Lowest Point Since March 2021, Smart Contract Tokens Shed $22 Billion in 36 Days
Solana lost more than 41% against the U.S. dollar during the last seven days.

Solana’s smart contract token SOL, on the other hand, lost 41% against the U.S. dollar during the past week. SOL, the largest loser of all the top ten smart contracts platform tokens, was over the past week.

Value Locked in Defi at Its Lowest Point Since March 2021, Smart Contract Tokens Shed $22 Billion in 36 Days
Since Oct. 11, 2022, the smart contract token economy has lost $22 billion as it slid from $283 billion to today’s $261 billion.

Two tokens that saw significant losses similar to SOL’s include phantasma (SOUL) down 35.6% and velas (VLX) down 29.6% this week. Two smart contract tokens that gained this week include qanplatform (QAN) up 368.5% and secret (SCT), which gained 29% against the U.S. dollar.

Since Oct. 11, 2022, or 36 days ago, $22 billion has left the smart contract token economy, as the market cap has dropped from $283 billion to today’s $261 billion. The top defi platforms have seen a significant amount of value drop over the past week.

The total value locked (TVL) in defi is at the lowest point since March 2021. At the time of writing on Nov. 16, 2022, the TVL in defi is $43. 24 billion. Ethereum’s defi dominance represents 57. 63% of the $43. 24 billion aggregate with $24. 92 billion total value locked on the blockchain’s defi protocols.

Value Locked in Defi at Its Lowest Point Since March 2021, Smart Contract Tokens Shed $22 Billion in 36 Days
The total value locked (TVL) in decentralized finance (defi) protocols has dropped to the lowest point since March 2021.

The Binance Smart Chain (BSC), which has $4. 83 billion in value locked. Tron is in third place with 10. 11% of the aggregate $43. 24 billion or roughly $4. 33 billion in value locked on Nov. 16.

Makerdao is the largest defi protocol today in terms of TVL in defi protocols, as it dominates by 15. 47% on Wednesday. Makerdao is worth $6. 69 billion TVL today which is followed by the liquid staking protocol Lido.

The defi application Lido commands $5. 92 billion in value locked on Wednesday. Makerdao’s TVL shed 13. 87% during the past 30 days, while Lido shed 0. 90% this past month. Makerdao has lost 4. 70% this past week and Lido lost 2. 54% during the last seven days.

This week’s top defi protocol include Aave and Uniswap. Cross-chain bridges during the last day have seen $141. 87 million in volume, and during the last seven days, bridges moved $1. 93 billion.

The top five most popular chains by volume are Ethereum and Fantom. FTX’s collapse has seen a huge number of withdrawals from all cross-chain bridge protocol.

What do you think about the state of decentralized finance protocols and the $22 billion smart contract tokens lost in 36 days? Please comment below to let us know your thoughts on this topic.

Jamie Redman

Jamie Redman, the News Lead at Bitcoin.com News, is a Florida-based financial journalist. Redman has been an active member of the cryptocurrency community since 2011. Redman is passionate about Bitcoin, open-source codes, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. This article is not intended to be a solicitation or offer to buy or sell any products or services. Bitcoin.com does not provide investment, tax, legal, or accounting advice. The author and the company are not responsible for any loss or damage resulting from or in connection to the content, goods, or services discussed in this article.

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Brussels to Put Out Digital Euro Law Shortly, ECB’s Lagarde Says

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