Grab Your Piece of the Pie: Sector Finance Token is Set For Launch
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Chainlink Weekly Roundup: Blueberry, Magpie, Galileo, Fuse Gold
December 31, 2022
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BSC News
Smart contract oracle network Chainlink caps off the year by partnering with DeFi protocols and physical asset tokenization platforms.
DeFi, Yield Harvesting, pNFTs, Gold
Dominant smart contract oracle network Chainlink ran all the way through the finish line of 2022, continuing to build across sectors in the Web3 industry.
In this week’s roundup:
- Blueberry Protocol joins Chainlink BUILD program.
- Magpie XYZ integrates Chainlink Automation.
- Galileo Protocol integrates Verifiable Random Function (VRF).
- Fuse Gold integrates Proof of Reserve (PoR).
Blueberry Joins BUILD
Blueberry Protocol has joined the Chainlink BUILD program to accelerate the growth and adoption of its automated LP strategies for Uniswap v3.
“We’re excited to join Chainlink BUILD, which will help drive the adoption of our automated LP strategies for Uniswap v3. The Chainlink Network underpins the DeFi ecosystem, and its support will help secure and grow our platform. Ultimately, joining Chainlink BUILD will help us provide users with more reliable, secure, and advanced strategies,” Blueberry Co-Founder Slater Heil said in a Medium post.
Launching on Ethereum, Blueberry is a Decentralized Finance (DeFi) protocol that aggregates multiple leveraged strategies into one account alongside automated Blueberry Vaults for Uniswap v3 LPs.
By joining BUILD, Blueberry will gain access to product alpha and beta releases, technical support, and more. In exchange, Blueberry will commit 3.5% of its total token supply to Chainlink service providers, including stakers.
🏗️ #ChainlinkBUILD 🏗️@BLBprotocol has joined #Chainlink BUILD to help accelerate the adoption of its automated LP strategies.
— Chainlink (@chainlink) December 27, 2022
Blueberry has committed 3.5% of its total token supply to be used as an economic incentive for Chainlink service providers.https://t.co/SQu5b7I0Ud pic.twitter.com/QBCY0XgHgu
BNB Chain Yield Harvesting
Yield-boosting DeFi platform Magpie XYZ has integrated Chainlink Automation to power the BNB Chain protocol’s automated yield harvest function.
“We selected Chainlink Automation for our project because its infrastructure is both reliable and performant. Additionally, using Chainlink Automation has saved us a significant amount of DevOps work, allowing us to focus our resources on building a better product for our users,” Magpie XYZ Project Lead Alan said in a blog post.
Magpie is one of three yield-boosting protocols battling for control of Wombat Exchange’s governance token veWOM.
According to the post, Magpie intends to integrate more Chainlink services as the protocol evolves.
#DeFi yield-boosting platform @magpiexyz_io has integrated #Chainlink Automation on #BNBChain to help trigger its yield harvest function in a timely manner.
— Chainlink (@chainlink) December 28, 2022
Explore how Automation increases the reliability of #Web3 protocols and improves user experience👇https://t.co/E2VD7fbamG
Chainlink for Nebula pNFTs
Galileo Protocol has integrated Chainlink’s Verifiable Random Function (VRF) on Polygon to ensure the fairness and transparency of the mint and airdrop of its genesis Nebula physical asset-backed NFTs (pNFTs).
"We chose to use Chainlink VRF because we believe it’s an unmatched, uniquely Web3 RNG solution that helps ensure fair, honest, and transparent randomness. Galileo Protocol, its team, and its community all share these core values,” Galileo Co-Founder and CEO Pierre Beunardeau said in a blog post.
Galileo’s mission is to “create a world where everything is tokenized.” The collection of 10,000 Nebula pNFTs is the only genesis collection Galileo will ever mint. Each Nebula has the possibility to produce a pNFT from $35,000 worth of physical goods and digital assets.
The project is also exploring the integration of Chainlink Price Feeds for the future launch of the Galileo Protocol Marketplace, according to the blog post.
Physical asset #NFT tokenization platform @galileoprotocol has integrated #Chainlink VRF on #Polygon to help randomly select prize winners for its genesis mint.
— Chainlink (@chainlink) December 30, 2022
Explore how VRF enhances transparency for events that require randomness ⬇️https://t.co/3C0M7dSVoI
Tokenized Gold Protocol
Fuse Gold is integrating Chainlink PoR into the minting function of its FUSEG token to better prevent infinite mint attacks and to assure users that FUSEG tokens are fully backed 1:1 by 99.999% LBMA-approved gold stored in vaults in the United Kingdom.
“Chainlink Proof of Reserve is mission-critical for Web3 protocols bringing real-world assets on-chain. With PoR helping verify that the FUSEG token supply doesn’t exceed off-chain gold reserves, we’re able to help protect our platform from infinite mint attacks,” the Fuse Gold CEO said in a Medium post.
The Fuse Gold Decentralized Exchange (DEX) will enable users to trade FUSEG and other digital assets.
.@fusegold—a tokenized gold protocol—is integrating #Chainlink Proof of Reserve on #BNBChain to help secure the FUSEG minting function.
— Chainlink (@chainlink) December 29, 2022
Discover how Proof of Reserve helps protect users from infinite mint exploits👇https://t.co/4dkQC51mnP
Last four weekly Chainlink Roundups:
- Dec. 25: Aave, Robodex, FSN, VenturePunk
- Dec. 18: AOmetaverse, Coinbase Cloud, Arbitrum, T-Systems
- Dec. 11: Staking, Hackathon, BBA, Catheon, WigoSwap
- Dec. 4: Staking, Nuon, LayerZero, and DVerse
What is Chainlink:
Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries and offers global enterprises and leading data providers a universal gateway to all blockchains.
Where to find Chainlink:
Website | Twitter | Docs | Community
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Related News
Blockchain News
Grab Your Piece of the Pie: Sector Finance Token is Set For Launch
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March 20, 2023
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Sector Finance is launching its token, $SECT, on Camelot DEX. There'll be 100M tokens available with 10% for public sale with a minimum commitment of $1.5M USDC and a maximum of $4M.
$SECT to Publicly Launch on March 31
The public token launch for Sector Finance token, $SECT, is set to begin at 17:00 UTC on March 29, 2023, and end at 17:00 UTC on March 31, 2023, on Arbitrum's native Camelot DEX.
The maximum supply will be 100 million $SECT, and 10% of that will be made available to the public. There is a minimum total commitment of $1.5 million USDC and a maximum commitment of $4 million USDC for the public launch of the token.
However, Sector Finance would retain the tokens allocated for the launch if the total committed $USDC is less than 1.5M. In that case, deposited funds will be returned to all participants.
Participants who deposit early and own Camelot's native token, xGRAIL, will be able to join the whitelist launch 24 hours before the public offer begins. As reported, all participants will receive the same fair launch value ("FLV") set at the end of the launch period. For all, the final price would be set as follows:
- Max = 4M $USDC Commitment / 10M $SECT
- Min = 1.5M $USDC Commitment / 10M $SECT
Additionally, holders of $SECT can stake, lock, and receive vote-escrowed $SECT ("$veSECT"), which provides governance rights over protocol fees and emissions. There is a vesting period for one-third of the tokens where they would be staked in veTokens for three months.
Sector Finance will publish specific instructions on participating in the public launch ahead of the launch event.
Incentivized Vault Offering
Sector Finance will increase the Incentive Pool for the Incentivized Vault Offering ("IVO") from 1.0% to 2.0% in celebration of its public launch.
According to the protocol, early depositors will earn $veSECT and $bSECT from the Incentive Pool in addition to the real yield accrued in USDC/ETH. Early depositors will benefit both from short-term upsides and long-term value accruals.
Participants can earn $bSECT and $veSECT from the Incentive Pool at the end of the Incentive Period when they deposit into either the Aggregator Yield Vaults or Single-Strategy Vaults.
You can learn more about the incentive vault offering here.
What is Sector Finance?
Sector Finance is a product protocol designed to scale the DeFi ecosystem sustainably through diverse yields and unparalleled risk transparency. The protocol is developing risk management tools and investment products to assist the next generation of DeFi users. Sector will run on Arbitrum, and the strategies will work with a variety of ecosystems, including Ethereum Mainnet, Moonriver, and Optimism.
Where to find Sector Finance:
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Blockchain News
DeFi Dominance: A Quick Guide to Ethereum Protocol Forks
March 20, 2023
The top DeFi protocols on Ethereum have captured billions of TVL and generated offspring that have captured billions more.
Uniswap, Compound, Olympus DAO, Aave
“Imitation is the sincerest form of flattery that mediocrity can pay to greatness.” – Oscar Wilde
Snarkiness aside, any good developer understands it’s far less efficient to build from scratch, than to identify existing good code and to adapt it to their purposes. The world of crypto is filled with Decentralized Finance (DeFi) protocols that are based on forks of predecessors.
Unsurprisingly, Ethereum protocols are the most popular models for other platforms to follow. In many cases, the Total Value Locked (TVL) of the offspring exceeds the parents!
Let’s check out the top 4 Ethereum protocols, in terms of the adoption of their forks, and then also look at one wild-card protocol: Uniswap, Compound, Olympus DAO, AAVE and Solidly.
(All data sourced from DefiLlama.)
1. Uniswap
Name: Uniswap
Category: DEX
TVL: $3.78 billion
Most Popular Forks: PancakeSwap (BNB etc.), SushiSwap (ETH etc.), BiSwap (BNB), VVS Finance (Cronos), Quickswap DEX (Polygon), Camelot (Arbitrum), SpookySwap (Fantom)
Total TVL of Forks: $6.92 billion
2. Compound Finance
Name: Compound Finance
Category: Lending
TVL: $2.67 billion
Most Popular Forks: Venus (BNB), Tectonic (Cronos), Benqui Lending (Avalanche), Sonne Finance (Optimism), Mare Finance (Kava)
Total TVL of Forks: $4.56 billion
3. Olympus DAO
Name: Olympus DAO
Category: Reserve Currency
TVL: $253 million
Most Popular Forks: Wonderland (Avalanche, ETH), Klima DAO (Polygon)
Total TVL of Forks: $1.51 billion
4. AAVE
Name: AAVE
Category: Lending
TVL: $8.53 billion
Most Popular Forks: UwU Lend (ETH), Geist Finance (Fantom), Radiant (Arbitrum)
Total TVL of Forks: $830 million
The only DeFi protocol in the top 5 that was not originally on Ethereum is Solidly, which was launched by famed DeFi developer Andre Cronje on Fantom. Solidly’s TVL on Fantom experienced a meteoric rise and equally meteoric fall, but the protocol has spun off several massively popular protocols on other blockchains.
Solidly
Name: Solidly
Category: DEX
TVL: $1.5 million
Most Popular Forks: Velodrome (Optimism), Solidly V2 (ETH), Thena (BNB), Ramses Exchange (Arbitrum), Equalizer Exchange (Fantom), Solid Lizard (Arbitrum), Equilibre (Kava)
Total TVL of Forks: $863 million
What is Ethereum:
Ethereum is an open-source, distributed computing platform based on blockchain technology that can execute smart contracts - that is, the terms written in the contract will be executed transparently, automatically when the previous conditions are satisfied, and no one can interfere. At the same time, Ethereum also allows developers to build decentralized applications (DApps) and decentralized autonomous organizations (DAO).
Find more about Ethereum here:
Website | Twitter | Documentation | Whitepaper | Reddit | Discord | Youtube | GitHub | Ethereum Foundation Blog |
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PROMO
CoinBook P2P DEX to Hold IDO for $BOOK on Core Chain
March 20, 2023
The most anticipated IDO event on Core DAO, CoinBook’s $BOOK token IDO is set to take place.
The world’s first decentralized peer-to-peer orderbook exchange, CoinBook, is holding an Initial DEX Offering (IDO) for $BOOK token.
What is CoinBook?
CoinBook is the world’s first decentralized P2P protocol on the Core chain allowing traders to exchange tokens peer-to-peer without the need for a Centralized or Swap Exchange.
This innovative DEX is igniting the P2P movement of crypto with its unique smart contract technology that circumvents the need for a Centralized or Swap Exchange with many advantages such as:
- Guaranteed Privacy (No KYC)
- Lower fees compared to CEX
- No slippage
- No market price impact
- No front-running bots
- You can keep full custodian
What is $BOOK?
$BOOK is the native platform token of CoinBook which will begin its IDO sale on March 22, 2023 at 12 PM UTC.
There are three major utilities of $BOOK:
Stake $BOOK, Build Your Portfolio
100% of the DEX transaction fees collected from trades will be donated to the holders who stake $BOOK in the Library Staking Pools. Users will be able to choose which Library pools to stake in to earn free tokens such as $BOW, $LFG, $AICORE, and much more!
Monthly Platform Rewards
CoinBook will reward its users monthly in $BOOK. The trading volume a user generates each month will determine how many $BOOK rewards they will earn.
Marketplace Governance
To further decentralize the CoinBook platform, the holders of $BOOK will participate in governance voting on important platform decisions. The more $BOOK you hold, the more voting power you have on proposals.
$BOOK IDO Details
Private Sale (Whitelisted Wallets) will first participate in the sale on March 22, 2023, from 12:00 UTC until 14:00 UTC. All Season 1 airdrop participants with completed tasks are whitelisted.
Public Sale (All Wallets) will start participating on March 22 2023, from 14:00 UTC until 14:00 UTC the next day (March 23, 2023).
The $BOOK IDO will take place on CoinBook’s platform. You can find out more details about CoinBook and $BOOK token on the CoinBook Doc.
Join CoinBook’s movement today and stay updated with the latest info!
Twitter | Telegram Community | Medium | Youtube
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This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News 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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Blockchain News
Synthetix Smashes Records: Reaches $490 Million in Daily Trading Volume
March 20, 2023
Synthetix, the derivatives liquidity protocol, achieved a record-breaking $490 million daily trading volume on March 17. The protocol also generated over $511,000 in fees on the same day.
Synthetix Made Record Trading Volume
Derivatives Liquidity Protocol, Synthetix hit $490 million in daily trading volume for the first time on March 17, according to Dune analytics.
In terms of trading, the majority took place on the Kwenta trading platform, which accounted for $479.8 million in trading volume. In addition, the Synthetix generated more than $511,000 in fees on March 17.
Worth noting that Synthetix will distribute over $8M of Optimism's governance tokens to its perpetual swaps users as rewards.
The reward system will reward traders based on the fees paid, the volume generated, and the amount staked in SNX, Synthetix's governance token. As reported, users who stake 2,500 or more SNX can further boost their rewards with a maximum bonus of 15%.
The program will begin in the first week of April and run for 20 weeks.
In the first week, 50,000 OP tokens will be distributed, followed by 100,000 OP in weeks two and three. The remaining weeks of the program will see 200,000 OP per week.
The rewards will be issued from Synthetix's treasury, which received 9 million OP from the Optimism Foundation in July 2022.
Synthetix has also deployed version 3 (v3) on the Ethereum mainnet following security audits on February 23.
According to its developers, Synthetix v3 offers developers better architecture for developing faster, more complex, and more efficient decentralized financial applications (DeFi). Additionally, V3 will provide simplified staking and differentiated debt pools, meaning network stakers can contribute collateral to specific asset pools and receive fees without being exposed to every Spartan Council-supported asset.
Synthetix currently has a Total Volume Locked (TVL) of $457.14 million, which includes $303.82 million in Ethereum and $153.32 million in Optimism. Synthetix is trading at $2.88, up 0.08 in 24 hours.
What is Synthetix:
Synthetix is a decentralised liquidity layer built on Ethereum and Optimism that acts as a backend for DeFi protocols. Stakers provide liquidity to collateralize a portfolio of synthetic assets in exchange for rewards and market yields. This liquidity is used to underwrite synthetic assets and perpetual futures trading at oracle prices, removing the need for traditional order books and counterparties. As a result, liquidity is commutable and fungible across markets, and traditional slippage is eliminated.
Learn more about Synthetix:
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Web3Go Daily Data: BNB Chain Overview of March 20
March 20, 2023
The daily Web3Go Data report specializing in blockchain data on BNB Chain. Here is the report for March 24, 2023.
Web3Go Daily Data: BNB Chain
What is Web3Go:
Web3Go is an open data platform that focuses on the formatting, visualization, sharing, and collaborative analysis of the on-chain data generated in the Polkadot and BNB Chain ecosystems.
Where to find Web3Go:
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