The NFT market continues to innovate new markets, new relevance, and tons of celebrities minting NFT artwork for auction sales.
The speculation about the release can be traced back to this [EMBED} Tweet from the artist on March 20. He responded to a question asked by a fan about what cryptocurrency business is all about.
The usual expectations accompanied the reactions under the tweet as many users called for the release of the promised album and speculated about a potential NFT art release in the future.
Four days ago, an official tweet from his handle, the artist released an announcement containing details about his first-ever NFT art. The [EMBED] Tweet reads, “MY FIR$T NFT! 4/21 7 PM EST.”
The release of the artist’s first-ever NFT artwork is currently available on the Nifty Gateway.
The collection will include “select pieces” as well as a snippet of “Sandman,” an unreleased track Rocky previewed during 2021 Yams Day, according to a promo video presented by the AWGE Shopping Network.
Inspired by the recent wave of NFTs art and collectible release by entertainment contemporaries, ASAP Rocky has released his artforms through new outlets within the NFT space.
According to the NFT Gateway platform;
ROCKY GATEWAY is a collection from Rocky and AWGE creatives Robert Gallardo, Wally Sajimi, and Jimmy Regular. The collection consists of 7 pieces:
The three lucky raffle winners will receive the actual rally car(s) from the tour!
Before exploring or purchasing the collection, you will need to validate your profile HERE before proceeding.
The NFT purchase has already been live since yesterday, 21/04/2021. NFT art fans can immediately start collecting their ASAP Rocky art piece.
Non Fungible Tokens (NFTs), also known as a collectible, are extensively covered in this cryptonomic article review. It’s a non-divisible token, unlike its counterpart, the fungible tokens, which can be split. Its unique identity is in its rarity (scarce nature) and has found use case across various niche which includes;
Also, its immutable nature, the fact that no two NFTs are alike, has continually driven adoption and interests, as reported in the recent wave of NFT Tweet craze, which saw Jack Dorsey making record-breaking sales. ASAP Rocky joins the like of UFC fighter Khabib to launch his own NFT art piece.
ASAP Rocky, real name Rakim Athelaston Mayers was born October 3, 1988. He is a multi talented American rapper, singer, songwriter, record producer, model, actor, and music video director. The entertainer is also part of the hip hop collective A$AP Mob, from which the moniker was adopted.
The rapper and songwriter has taken the world music, art, and fashion industries by storm since his emergence in 2011. He is set to take over the blockchain NFT art space through the release of his NFT. which comes with a reward incentive for those who are going to purchase the art.
Rocky is a multi-hyphenated artist, entrepreneur, actor, fashion within the realm of popular culture. The release of his NFT art brings him among other artists that have released their arts on the blockchain.
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Venus Protocol has announced that it is now fully upgraded to Chainlink. Venus had earlier dropped the VIP-23 proposal to allow for an upgrade on ChainLink as its oracle solution will provide a robust infrastructure to secure critical lending/borrowing functions and push prices to higher levels. The upgrade will allow Venus to leverage on Chainlink to create a more secure, trusted, and liquid market on the Binance Smart Chain (BSC).
Venus is a synthetic money market and stablecoin protocol built on the BSC. With its upgrade to Chainlink as an oracle solution, Venus has now leveraged Chainlink to its markets to its price collateral during both loan issuance and liquidation processes. The VIP 213 proposal deployed for the upgrade in Chainlink will provide security and reliability to the Venus Protocol allowing for the timely update of prices and automation of the Venus Market.
Built by crypto wallet and debit card company Swipe, Venus Protocol is the first collateral loan platform on BSC. With Venus, lenders can provide liquidity on various assets and earn interest in LP, there is also an option to take loans in other currencies or mint VAI— the first decentralized stablecoin built on BSC, Venus's stablecoin. One of the benefits of running on BSC is that users will be able to get fast, low-cost transactions while being able to access a deep network of wrapped tokens and liquidity. The way the Venus market works requires price data to determine a fully algorithmic money market such as in loan issuance and loan liquidations. Every time a user requests a loan, a fully algorithmic market is needed to determine the loan size and underlying collateral. Venus also needs to have its prices aggregated and price adjusted to suit market realities, which the BSC does not allow, hence the need for Chainlink.
According to Joelito Lizarondo, founder of Venus Protocol and the CEO of Swipe Wallet:
“As the market leader in providing credit to the BSC ecosystem, it was critical that we scale up our security by upgrading to Chainlink as a means of thoroughly protecting our users’ funds and guaranteeing they alway get fair market prices. Not only are we able to leverage Chainlink’s time-tested security, but it’s native operation on BSC allows us to get consistently fresh data for a much lower price.”
The need to utilize Chainlink’s oracle solution is founded in a desire to provide a more robust and proven infrastructure suitable for Venus’ lending/borrowing functions. The integration with Chainlink is also essential as Venus has the most Total Value Locked (TVL) on BSC, so a superior oracle was needed to increase efficiency. With the upgrade to Venus, users can now expect high-speed data from several premium off-chain data aggregators like BraveNewCoin, plus a high level of security and decentralization.
Chainlink is an oracle protocol on the BSC, providing tamper-proof data and transactions. Chainlink enables developers to connect to any blockchain in a secure way and to power universally connected smart contracts. Chainlink is utilized by organizations to get reliable, secured and trusted data feeds.
Venus is a synthetic money market and stablecoin protocol built on the BSC. With its upgrade to Chainlink as an oracle solution, Venus has now leveraged Chainlink to its markets to its price collateral during both loan issuance and liquidation processes.
Their algorithmic-based money market system is built on the BSC to ensure a completely decentralised lending and credit system in DeFi. With Venus, users can use the collateral supplied to the market to borrow other assets and to mint synthetic stablecoins with over-collateralized positions that protect the protocol.
Upgrading their oracles to the highly-regarded Chainlink product will no doubt provide a boost to Venus. This partnership will both increase security as well as transaction efficiency, granting Venus access to a highly-organized and efficient collection of multi-chain data practically instantaneously. Users of Venus should see increased value from using the project, and can rest assured that their transactions are being handled safely.
In a move that will satisfy investor curiosity, Beefy Finance has given a transparent breakdown of its fees. The Binance Smart Chain(BSC))-based yield aggregator decided to take a transparent route breaking down its fees in its fifth Bulletin. According to the yield aggregator, they understand that fees take away from the proceeds users obtain in their yields and that is why they charge the least amount of fees possible. Beefy Finance is comparing the fee structure of yield optimizers to that of traditional finance. Aside from Beefy Finance, another BSC-based yield aggregator in Autofarm also made a compilation of its fees and returns. Let’s dive into how these fees are different from standard financial institutional fees, and potential benefits derived from these differences.
For every transaction carried out, whether in the traditional finance system or the cryptoverse, a fee is incurred. In the traditional finance sphere, transaction costs are expenses incurred when buying or selling a good or service. They represent the labor required to bring the goods or service to the user and include brokers' commissions and spreads. These transaction costs result in the creation of industries that focus on nothing more but facilitating exchanges, thereby tripling costs for the added middlemen. However, with yield optimizers like Beefy Finance or Autofarm, transaction fees collected are utilized for various purposes, including community engagement, salary payment for the team, hiring for external audits, community engagement and marketing.
Yield optimizers are decentralized protocols or smart contracts programmed to automatically seek the highest available yields across multiple supported platforms, and then farm, harvest, reinvest the harvest and automatically compound the earnings. When a user provides liquidity into a pool, they earn a share of the trading fees and liquidity provider fees. But what differentiates how Beefy or Autofarm assign those fees and present them from other optimizers and traditional finance?
The answer is transparency. For instance, Beefy charges a 0.1% withdrawal fee on all vaults with the charges placed on the total amount you withdraw, but all other fees are included in their APY calculation. There is also a 3.0% performance fee on all vaults which gets distributed among BIFI holders in the BIFI Maxi pool. Aside from these fees, there are also the blockchain fees that go to blockchain operators. 0.5% of the fees are allocated to the Beefy Finance Treasury, 0.5% is awarded to the Vault Strategist and another 0.5% to the one calling the harvest function. 0.1% is assigned on deposit or withdrawal fees to protect each vault from bad actors. By laying out how the fees are dispersed, the company makes investors feel more secure with paying the fees for the service.
In comparison with traditional finance vehicles, users can get yields at a 14.46% APY with fees factored in with Beefy finance. In other words, $1M invested with Beefy Finance at 14.46% APY yields $57, 492, 639 Million. Meanwhile $1M invested with traditional finance for 30 years at 8% with a 3% management fee fields $4.32 Million.
Now let’s take a look at Autofarm. Their fee break down according to the team includes the following:
Controller Fee
This fee covers the gas cost for the optimized auto-compounding. On BSC, the controller fees cost 0.2% while it costs 0.008% on HECO.
Platform Fee (Treasury)
This fee covers all the varied purposes of the aggregator including running costs. On BSC, platform fees cover just the treasury and cost 0.5% on the other hand, HECO platform fees cover treasury + revenue sharing which cost 0.3% + 1.5% = 1.8%
Vault Fee ($AUTO Buyback & burn)
A percentage of the profit that is taken to buy back $AUTO tokens to be burnt. The tokens burnt will reduce the max supply of $AUTO forever and all $AUTO holders & liquidity providers will benefit. According to Beefy Finance, “The buyback burn rate is as specified in the dropdown of each vault. Currently, all regular vaults have a vault fee of 1.5%, and non-$AUTO earning vaults have a vault fee of 3.0%.”
Vault Fee (Reward $AUTO Stakers)
This Vault fee is only applicable to HECO as the BSC-HECO bridge has not been built and will likely be up in a Month. Vaults from the HECO cross-chain will be used to reward $AUTO stakers who stake their $AUTO tokens on single token vaults on the BSC network and it costs 1.5%.
Deposit Fee
Deposit fees on HECO and BSC cost the same - a one-off fee less than <0.1% on initial capital.
Withdrawal Fee
Withdrawal fees on both HECO and BSC cost 0%.
Beefy Finance is a yield aggregator that allows its users to become yield farmers effortlessly. This definition fits the profile of all yield aggregators. Users do not need to compound their funds periodically as users can just set and leave their funds in yield farming. Utilizing a vault system, Beefy Finance optimizes yields by implementing strategies through smart contracts. The vaults serve as investment instruments automating the best yield farming opportunities. Instead of users regularly making decisions on investments, the vaults perform the following actions: providing assets as collateral for others, utilizing assets as liquidity, using assets to generate a yield and compound profits and reducing liquidation.
With traditional investment vehicles, you can earn a 12.5% annual return on your investment. But with Beefy Finance, your compounding interest and regular interest are added together to give their users a significantly higher overall annual return. So, you get your 12.5% annual compounding interest and 14.2% interest of another site’s promotional coin ( interest on promotional coins from any of the platforms Beefy uses). In total, users get 28.02% APY on Beefy. While traditional finance vehicles come with excess charges some of which are covert, Beefy has made a transparent declaration of all its fees which are directly proportional to when activities occur in your account.
Autofarm is a leading DeFi yield aggregator on BSC and HECO with 3 products Autofarm, Vaults (yield optimizer), AutoSwap (DEX Aggregator), and farmfolio that make up its ecosystem. The yield optimizer implements maximized yields at minimal costs, while AutoSwap allows users to swap or trade through routes that find the best price and swap rates. Farmfol.io users have access to an intelligent portfolio manager and tracker that manages their assets across different DeFi farming projects. All of these services are governed by AUTO token, the platform’s native token.
Unlike traditional finance vehicles, with yield optimizers, fees are transparent and included in the APY minus blockchain fees. Yield optimizers are making fees charged on financial services serve a beneficial purpose for users, giving traditional investment vehicles a run for their money. With an APY of 12% to 14% that users get from yield optimizers fees factored in, more people will begin contemplating their financial future in the hands of a system designed to take more from them than to give in return.
Non Fungible Tokens, popularly known as NFTs, are still gaining momentum and maintaining their relevance despite what seems like a pullback of the market. This time the news about NFT is emanating from famous Hip-Hop musician and entertainer ASAP Rocky releasing his own NFT art.
The NFT market continues to innovate new markets, new relevance, and tons of celebrities minting NFT artwork for auction sales.
The speculation about the release can be traced back to this [EMBED} Tweet from the artist on March 20. He responded to a question asked by a fan about what cryptocurrency business is all about.
The usual expectations accompanied the reactions under the tweet as many users called for the release of the promised album and speculated about a potential NFT art release in the future.
Four days ago, an official tweet from his handle, the artist released an announcement containing details about his first-ever NFT art. The [EMBED] Tweet reads, “MY FIR$T NFT! 4/21 7 PM EST.”
The release of the artist’s first-ever NFT artwork is currently available on the Nifty Gateway.
The collection will include “select pieces” as well as a snippet of “Sandman,” an unreleased track Rocky previewed during 2021 Yams Day, according to a promo video presented by the AWGE Shopping Network.
Inspired by the recent wave of NFTs art and collectible release by entertainment contemporaries, ASAP Rocky has released his artforms through new outlets within the NFT space.
According to the NFT Gateway platform;
ROCKY GATEWAY is a collection from Rocky and AWGE creatives Robert Gallardo, Wally Sajimi, and Jimmy Regular. The collection consists of 7 pieces:
The three lucky raffle winners will receive the actual rally car(s) from the tour!
Before exploring or purchasing the collection, you will need to validate your profile HERE before proceeding.
The NFT purchase has already been live since yesterday, 21/04/2021. NFT art fans can immediately start collecting their ASAP Rocky art piece.
Non Fungible Tokens (NFTs), also known as a collectible, are extensively covered in this cryptonomic article review. It’s a non-divisible token, unlike its counterpart, the fungible tokens, which can be split. Its unique identity is in its rarity (scarce nature) and has found use case across various niche which includes;
Also, its immutable nature, the fact that no two NFTs are alike, has continually driven adoption and interests, as reported in the recent wave of NFT Tweet craze, which saw Jack Dorsey making record-breaking sales. ASAP Rocky joins the like of UFC fighter Khabib to launch his own NFT art piece.
ASAP Rocky, real name Rakim Athelaston Mayers was born October 3, 1988. He is a multi talented American rapper, singer, songwriter, record producer, model, actor, and music video director. The entertainer is also part of the hip hop collective A$AP Mob, from which the moniker was adopted.
The rapper and songwriter has taken the world music, art, and fashion industries by storm since his emergence in 2011. He is set to take over the blockchain NFT art space through the release of his NFT. which comes with a reward incentive for those who are going to purchase the art.
Rocky is a multi-hyphenated artist, entrepreneur, actor, fashion within the realm of popular culture. The release of his NFT art brings him among other artists that have released their arts on the blockchain.
