Binance Founder Changpeng Zhao Steps Down as CEO and Pleads Guilty in $4 Billion Settlement
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Chainlink Weekly Roundup: LendeXe, Planet IX, Sneaky Vampire Syndicate
March 12, 2023
MINS
Dominant smart contract oracle network Chainlink partnered with a DeFi protocol on Ethereum and expanded integrations with a strategy game and NFT project.
DeFi, Strategy Game, NFT Raffles
It’s been another busy week for crypto’s dominant smart contract oracle network, as Chainlink announced initiatives involving a Decentralized Finance (DeFi) protocol on Ethereum, an NFT-based strategy game on Polygon and an NFT project’s raffle draws.
In this week’s roundup:
- LendeXe Finance integrates Chainlink Price Feeds.
- Planet IX integrates Chainlink Automation.
- Sneaky Vampire Syndicate integrates Automation.
LendeXe Integrates Price Feeds
Liquidity ecosystem LendeXe has integrated Chainlink Price Feeds to underpin its DeFi products on Ethereum.
LendeXe has two decentralized stablecoins $XSD and $LSD alongside a lending and borrowing protocol. Its features include dynamic lending, Ultimate Loan and Interest-Free Loan.
“Without access to robust and reliable price data feeds, it’s impossible to build secure, feature-rich DeFi functionality. That’s why we chose to use Chainlink Price Feeds — the undisputed industry standard price oracle solution in DeFi,” the LendeXe Finance team said in a Medium post.
Planet IX Integrates Automation
Chainlink Build Program member Planet IX has integrated Automation on Polygon to help trigger batch randomness requests to Chainlink Verifiable Random Function (VRF) to reduct costs associated with creating Planet IX Non-Fungible Tokens (NFTs).
Planet IX has previously integrated Automation for weekly draws. The expanded integration enables the NFT-based strategy game to further optimize its cost structure.
“As best-in-class smart contract automation infrastructure, Chainlink Automation provides us with a secure and reliable execution service that helps us reduce costs associated with the creation of Planet IX NFTs,” Planet IX CEO Karl Blomsterwall said in a blog post.
Sneaky Vampire Raffle Draws
Ethereum NFT project Sneaky Vampire Syndicated has integrated Automation to decentralize its regular raffle draws.
Automation pairs with Sneaky Vampire’s previous integration of VRF to help draw the raffle winners.
“Without Chainlink Automation, we needed either to maintain in-house infrastructure or manually trigger the raffle draw every single time. But like always, Chainlink oracle services helped make our lives easier so we could focus solely on building out great products,” Project Lead Topkek said.
Last four weekly Chainlink Roundups:
- March 5: Base, Functions, Konnect, 0xCord
- Feb. 26: StarkNet, TrueUSD, Radiant, ETHDenver
- Feb. 19: LUXON, Zeta Markets, SmartCon 2023
- Feb. 12: MakerDAO, Starknet, Cryptex, Aave
- Feb. 5: Picardy Protocol, Icetea Labs
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:
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Binance VIP Traders Informed of $4B Settlement Back in September
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December 1, 2023
The exclusive gathering took place at a luxurious Singapore night club in September, where attendees engaged with Binance executives and probed about the potential settlement.
Binance reportedly hosted an exclusive dinner for its most significant market makers in September. The gathering, held at a prestigious Singapore nightclub, was an intimate setting where select VIP traders gained insights into the impending $4 billion settlement with the U.S. Department of Justice, according to a recent report from Bloomberg.
The private dinner, organized for Binance's top traders, unfolded in the upscale 1880 members-only club. Attendees, consisting of market makers and traders, engaged in discussions with Binance executives about the company's legal challenges. The conversations revolved around the potential $4 billion fine, leaving attendees convinced that Binance could afford and would settle such a substantial amount.
Attendees' Perspectives
Reports suggest that attendees, after breaking into smaller groups, sought clarification on Binance's legal troubles. They left the dinner with a heightened expectation of the $4 billion settlement, emphasizing the significant financial impact it would have on the exchange.
Former CEO Changpeng Zhao was notably absent from the gathering, with the then-head of regional markets, Richard Teng, representing the company.
In response to the reports, a Binance spokesperson disputed certain aspects of the event's depiction while refraining from specifying the inaccuracies, as per The Block. This discrepancy in accounts raises questions about the transparency surrounding Binance's legal challenges and its communication with stakeholders.
Implications of the Settlement
Binance’s $4 billion settlement with U.S. authorities, including the Department of Justice, Department of the Treasury, and the Commodity Futures Trading Commission, marked one of the largest corporate settlements in U.S. history.
The resolution concluded a criminal investigation into allegations of money laundering and sanctions violations, settling many of Binance's legal troubles in the U.S. However, Binance.US and Changpeng Zhao still face a lawsuit filed by the U.S. Securities and Exchange Commission.
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Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
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 $1500. 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.
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 $1500. 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.
Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
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.
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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