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Chainlink Weekly Roundup: LINK Staking, Paxo, Betterticket, CACHE Gold
October 14, 2022
MINS
Chainlink adds multiple Web3 projects to its array of partners. Meanwhile, $LINK holders get ready for staking on Ethereum in December.
Chainlink Integrations, $LINK Staking Hype
Chainlink had another week of significant project integrations as it approaches a new era to further scalability.
The team plans to launch the beta of Staking (v0.1) on the Ethereum mainnet in December to help further incentivize the network's proper operation.
Chainlink is fundamentally one of the most important projects in all of crypto.$LINK already secures billions of dollars in value and will enable large scale interoperability via SWIFT and CCIP.
— Peta₿yte 👑 (@PetaByteCapital) October 4, 2022
With staking due to be released in December I wouldn't be fading this one.
In this week's roundup:
- Paxo Finance integrates Chainlink Price Feeds.
- Betterticket integrates Chainlink VRF, Automation, and Price Feeds.
- Finally, CACHE Gold integrates Chainlink Proof of Reserve.
Paxo Finance
Paxo Finance integrated Price Feeds on Polygon to power accurate loan liquidations.
The undercollateralized Decentralized Finance (DeFi) lending and borrowing protocol can now access high-quality data feeds to support liquidations and help ensure protocol and lender solvency.
“Security is the single most critical aspect of any DeFi protocol, and Chainlink Price Feeds are the best, most widely adopted price data solution in the industry,” said Pranjal Pashar, Founder and CEO of Paxo Finance.
If DeFi protocols use unreliable asset price feeds, borrowers can get liquidated earlier than expected or too late. While early liquidations are unfair to borrowers, late liquidations make lenders insolvent. To avoid this, Chainlink's feeds help ensure that the final price delivered on-chain to DeFi protocols reflects a market-wide average.
Betterticket
Betterticket integrated Chainlink VRF, Automation, and Price Feeds as critical components for on-chain NFT ticketing.
“Chainlink services are known for their reliability, security, and ease-of-use. In order to build applications with real-world use cases, such as Betterticket’s improved ticketing system, it’s essential that smart contracts have access to external functionality,” said the Betterticket team.
The metaverse event ticketing platform uses:
- Chainlink VRF to offer all members a fair chance of receiving a better NFT Card during the sale phase
- Automation to reward attendees for their participation and automatically start and stop the sale of event tickets, and
- Chainlink Price Feeds to accurately convert ticket prices into USD.
CACHE Gold
CACHE Gold, a DeFi protocol supporting backed and redeemable tokenized gold, integrated Chainlink Proof of Reserve on Polygon.
This helps users verify that cross-chain CACHE Gold tokens ($CGT) minted on Polygon are fully backed 1:1 by $CGT tokens on Ethereum.
“By leveraging the industry-leading oracle network, we’re able to more securely bring one of the most popular assets in the world to Polygon’s DeFi ecosystem,” said Brian Hankey, Co-Founder of CACHE Gold.
Whenever the reserves for @cache_gold’s gold-backed tokens increase or decrease, #Chainlink Proof of Reserve (PoR) relays the change on-chain to update CACHE Gold’s PoR contract, helping ensure that the on-chain assets are backed by off-chain reserves.https://t.co/w1gcn1DWtE pic.twitter.com/VsjUBKjAxf
— Chainlink (@chainlink) October 10, 2022
Check out BSC News' weekly roundup to keep up with the latest updates about the smart contract powerhouse.
Last four editions:
- Oct. 7: Hebys and Two Sigma
- Sep. 30: SWIFT, SCALE and Coinbase Cloud
- Sep. 17: Lanceria, DeHealth, bountyblok and Ojamu
- Sep. 10: Euler, TipMeACoffee and Blockpour
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. They currently secure tens of billions of dollars across DeFi, insurance, gaming, and other major industries and offer global enterprises and leading data providers a universal gateway to all blockchains.
Where to find Chainlink:
Website | Twitter | Docs | Community
What Is Paxo Finance:
Paxo Finance is an undercollateralized investment loan protocol that allows users to borrow up to 5X of their capital to invest in crypto assets, NFTs, or the metaverse. The protocol also allows liquidity providers to earn high APY by providing liquidity in multiple available pools.
Where to find Paxo Finance:
What Is Betterticket:
Betterticket builds Web3 social networks for in-person, online, and metaverse events. They offer a decentralized event management and ticketing system that uses NFTs as event tickets.
Where to find Betterticket:
What Is CACHE Gold:
CACHE Gold (CGT) is a regulated ERC-20 token fully backed by redeemable physical gold.
Where to find CACHE Gold:
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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 $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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Coinbase Gains Regulatory Nod from BMA for Retail Perpetual Futures Trading
September 28, 2023
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Building on the launch of its International Exchange in May, the approval reflects Coinbase's effort to extend perpetual futures trading to eligible non-US clients.
Summary
- Coinbase has obtained regulatory approval from the Bermuda Monetary Authority (BMA) to offer perpetual futures for eligible non-US retail customers.
- The approval builds on Coinbase's earlier announcement in May 2023 when it launched Coinbase International Exchange, a platform aimed at non-US institutions to trade perpetual futures.
Crypto exchange, Coinbase, in an announcement said it has obtained regulatory approval from the Bermuda Monetary Authority (BMA) to offer perpetual futures for eligible non-US retail customers. Aligning with the BMA's rigorous guidelines, the move underscores Coinbase's dedication to compliance and regulatory standards.
This approval builds on Coinbase's earlier announcement in May 2023 when it launched Coinbase International Exchange, a platform aimed at non-US institutions to trade perpetual futures. Now, the BMA's approval extends this trading option to non-US retail customers.
As of today, non-US retail traders can verify their eligibility for perpetual futures trading on Coinbase Advanced, the company's retail trading platform, with official trading operations set to commence in the coming weeks.
Coinbase’s “Go Broad, Go Deep” Expansion Strategy
“As announced in the Phase II of our “Go Broad, Go Deep” strategy, we are dedicated to partnering with high-bar global regulators to build a crypto regulatory framework that allows crypto technology to continually drive innovation,” Coinbase said.
While the company initially planted its roots in the United States, it now seeks to expand access to perpetual futures for eligible non-US clients, thus contributing to the evolution of the global financial system and extending economic freedom and opportunities to users worldwide.
In a climate where several crypto exchanges are facing increased regulatory scrutiny and scaling back operations in certain regions, Coinbase's expansion into perpetual futures demonstrates its determination to cater to growing demand in the crypto derivatives market while upholding security and transparency standards.
Disclaimer: This is a paid Ask Me Anything (AMA), 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 AMA for $2000 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 AMA.
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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