Project Insight: Kalmar - The First DeFi Bank Offering Leveraged Yield Farming


Kalmar is committed to the success of its ecosystem and is striving to be a top DeFi protocol. Their leveraged yield farming services are currently in testnet and are underway security tests.
Introduction
The Kalmar team has been eyeing the Ethereum network since the launch of prominent Daoos began occurring. The use of smart contracts has allowed developers to introduce novel solution to the crypto space such as automated market makers, lending, and recently, leveraged yield farming. Currently DeFi is one of cryptos fastest growing sectors with over 40B USD locked in DeFi platforms. While the DeFi sector is flourishing, the Kalmar team has identified some weaknesses. These consist of high transaction costs, complicated UI/UX's, and many Dapps that all vary in design. The Kalmar team has focused on creating a user-friendly DeFi bank to combat these issues, offering numerous DeFi services from one Dapp. Further, the team has chosen the Binance Smart Chain to reap the rewards of quick block times and minimal transaction fees.
Kalmar.IO

As DeFi protocols continue to innovate, Kalmar aims to be at the forefront. Kalmar's bank Dapp will provide users with easy access to lending, derivatives, payments, and liquidity provision. This Dapp aims to bundle all prevalent services into one, catering to the user. This is crucial as currently, users would have to interact with multiple Dapps to access all of these features. The team doesn't stop there, as their end vision is to "provide its users with an opportunity to constantly benefit from various industries… in a single user-friendly platform." In short, Kalmar is striving to create mass and straightforward adoption through consolidating DeFi services into one single protocol. The team is confident in their goals and believe the BSC is a great place to start with its rapid user growth alongside the low transaction fees.
Key Features
- Exchange aggregation
- Leveraged yield farming product
- Bug bounty
- Emphasis on security
- Live testnet

Exchange Aggregation
The team has noticed that there are already a large number of DEX AMM's on the BSC. Instead of battling with already established protocols such as PancakeSwap and SushiSwap, Kalmar aggregates their liquidity. Through utilizing a yield aggregation engine, the team provides its users with token swaps using multiple liquidity routes. This allows users to minimize their transaction costs by reducing slippage and selecting the cheapest exchanges.
The following flow map outlines the two simplified functions of the Kalmar yield aggregation engine:
Reading the prices and liquidity available on multiple decentralized exchanges
Picking the best price for user's deal, taking in consideration the amount they want to swap

Leveraged Yield Farming
Leveraged yield farming is a fairly new product popularized by Alpha Homora, a derivative and yield farming protocol on Ethereum. Kalmar has also innovated on this front, offering users this service on the BSC. In this model, there are three roles: BNB lenders, Yield Farmers, and Liquidity Providers.
BNB Lenders:

These users provide BNB to the bank. When lending BNB tokens to the "bank" the smart contract returns a proportional amount of iBNB tokens. These tokens are interest-bearing assets that act as a receipt for the initial BNB deposited. The interest-bearing mechanism acts as a liquidity incentive, rewarding users who provide the needed BNB liquidity. This creates a yield farming model for those who lend BNB.
Yield Farmers:
Using the BNB from the lenders, the Kalmar smart contract is able to provide users with up to 2.5X of the APY. For users to borrow this BNB, they simply supply their yield farming pair, which is used as collateral. On top of utilizing the lent BNB, Kalmar also incorporates basic yield optimization strategies. The smart contract reinvests the liquidity rewards and trading fees collected for more of the respective LP tokens. This allows for complete automation of yield farming while simultaneously introducing compound interest. The Kalmar team provides the following example:
User X has 100 BNB and wants to farm CAKE by using PancakeSwap's CAKE/BNB Farm.
Normally, User X would split his 100 BNB in 50 BNB worth of CAKE and 50 BNB and provide liquidity and farm CAKE with the 200% APR PancakeSwap provides.
User X wants to get higher rewards, so he uses Kalmar's Yield Farming platform to borrow another 150 BNB from the bank. He uses leverage to yield farm PancakeSwap's CAKE/BNB Farm with a total of 250 BNB, which gives him 500% APR, more than double of what he'd receive if he farmed with only 100 BNB.
It is good to keep in mind that User X also has to pay the borrowing interested on the borrowed amount and make sure his position value doesn't drop below the minimum threshold, in which case his position will be liquidated.

Liquidity Providers
Liquidity provider's play a very similar role to that of yield farmers. The key difference is that liquidity providers utilize liquidity pools with no additional yield incentives. Unlike the yield farmers, who earn both liquidity rewards and swap fees, liquidity providers only earn swap fees. This is due to no specific "farm" being offered to the respective liquidity pair. Other than that, the mechanisms of leverage remain the same, allowing users to increase their LP fee earnings.
*Currently, this feature is not live on the testnet*
The Process of Leveraged Yield Farming
The Kalmar team does an elegant example of explaining the process of leveraged yield farming. Once a user supplies the respective token pair, the following process will be executed:
- The smart contract borrows the amount of BNB from the bank based on your leverage level.
- The assets are swapped, making sure you have equal value on both sides of the pair.
- The liquidity is provided for the said pair on the protocol chosen.
- LP Tokens are received for the liquidity provided.
- The LP Tokens are then staked in the farm of said protocol.
- Reward tokens are farmed.
- The farmed tokens are sold for more liquidity, increasing the total value of your position.
- Repeat.

Risks
Leveraged yield farming adds a layer of liquidation risk to BNB borrowers -- yield farmers and liquidity providers. This risk is introduced to protect the borrowers if a user's leveraged position becomes at risk of defaulting. Kalmar adopted a different system to Alpha Homora's manual system, which requires liquidators. The Kalmar system enforces the liquidation debt ratio automatically through smart contracts. This model's main risk is that a borrower's asset's price may drop too rapidly, resulting in only a partial portion of BNB being repaid. The team has noted that this is yet to happen, but it is still a plausible risk.
In turn, the smart contract acts as a middleman between the BNB lenders and the liquidity providers/yield farmers. The liquidation event ensures that BNB lenders are protected when the borrower is at risk of defaulting.

Security
The team at Kalmar has a large focus on security. With the recent smart contract exploits, it is a good sign to see a protocol take extra precautions. The team is currently in testnet while they are working on audits. The testnet is open to all users, and there is a hefty bug bounty for anyone who finds critical exploits. Those who have Solidity experience and can identify a critical bug will be rewarded upwards of 10,000 USD. This bounty and audit service comes in partnership with Hacken and HackenProof. Hacken, a cyber-security consulting protocol, will be auditing the contracts. Alongside this, the partnership with HackenProof, a bug bounty, and vulnerability coordination platform, will ensure the bug bounty rewards.

This large bug bounty is offered as an incentive to further strive for the security of the protocol. Notably, the team is taking the proper precautions in testnet and in receiving audits before launching.
Roadmap
The Kalmar team is also striving to provide innovation in NFT gamification. Kalmar is first striving to make a community-based platform with a collection of different party games. This platform will be easy-to-play and a great entertainment source for users who simply invite their friends to multiplayer games in seconds. As Kalmar is a community-based platform, there will be no "pay-to-win" scenarios, and nearly all games will be free. Further, users will be able to earn real tangible rewards through random cosmetic items or characters. These rewards will be distributed on every Kalmar transaction. These rewards will be stored as Non-Fungible Tokens (NFT's), which can be bought, sold, traded, and collected.

Further, the team has plans on furthering Kalmar as an NFT ecosystem. This will be done through a NFT Technology Fundraiser, which currently has limited details.
Concluding Thoughts
Kalmar is striving to be at the forefront of innovation in the Binance Smart Chain DeFi space. Their leveraged yield farming services are currently in testnet and are underway security tests. The team does not plan to stop there, as liquidity aggregation and NFT Gamification is also on the roadmap. Kalmar has set out with a mission to improve the DeFi space by offering a user-friendly UI/UX to their DeFi bank. Currently, users must use three different Dapps if they wish to access leveraged yield farming, token swaps, and NFT-Fi. This is what Kalmar aims to solve efficiently. Instead of launching on the Ethereum network where users pay ~30x more in fees, the team opted for the economical option, the BSC.

In short, Kalmar is committed to the success of its ecosystem and is striving to be a top DeFi protocol. The team is yet to launch, so there is tons of development to go, but Kalmar will be a key protocol to watch if appropriately executed.
For those who wish to learn more about Kalmar check out the following resources:
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 $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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Related News

Step-by-step guide on claiming your CORE airdrop on mobile or PC.
Easy Steps to Claim Core Airdrop
The Core DAO airdrop will go live on February 8th at 12 PM UTC. Here is a detailed guide, according to Core DAO’s Medium blog, on how to claim your $CORE airdrop on Mobile and PC:
How to Claim CORE on PC
- After adding Core Mainnet to your Metamask wallet extension, open the Core DAO official homepage. You can learn how to add Core to Metamask HERE.
- Check the top right-hand side of the homepage and click on Airdrop.

- A dropdown will display, prompting you to select your country. However, Core DAO will automatically select your country based on IP. Click confirm after selecting your country.

- Next, select Metamask to connect your wallet.

- Once you click the confirm button, you will be directed to your Metamask wallet to link your Core Mainnet network to the website.
- If you are connected to the Ethereum Mainnet, Metamask will ask you to Switch network to Core DAO. Click “Switch Network” to confirm.

- Ensure that the wallet address is the same as the one you linked to the Satoshi application.
- Once connected to the Core DAO website, click on “Claim.”

- Click on confirm to proceed with the transaction.
- Eligible users will be sent 0.1 CORE in their wallets ahead of enabling the Airdrop to cover gas fees.
How to Claim CORE on Mobile
- Open your Metamask wallet and Connect to the Core mainnet.

- Go to the browser in the Metamask wallet and visit the Core DAO homepage.

- Click on Airdrop at the top of the homepage.

- Select your country of residence. Core DAO will automatically country with your connected IP. Click “Confirm.”

- After selecting the country, connect your Metamask wallet in the next page by clicking the “Connect” button.

- Confirm the interaction with your Metamask wallet.

- Click on the “Claim” button in the homepage. Ensure that your wallet address is the same with what you linked in the Satoshi application.

- Click on confirm in your Metamask to claim your tokens.
BSC News recommends visiting the Core DAO blog for more information about claiming the $CORE airdrop.
What is Core DAO:
Core DAO is the official decentralized organization developing the Satoshi Plus ecosystem. It represents an opportunity for miners to access new revenue streams by contributing hash power to the chain. Inspired by the principles of both blockchains, Core displays a deep appreciation for the crypto ecosystem's history and an even greater excitement for Core’s role in its future.
Where to find Core DAO:
Website | Docs | Twitter | Discord
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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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ConsenSys gives a breakdown of Layer 2 roll-ups, particularly ZK-rolls-ups and where the space is headed in the third Build section of the 2023 CMC Crypto Playbook

An Overview of Layer 2 Roll-ups
Over the past few years, Layer 2 (L2) rollup solutions have come to the forefront as activity on the Ethereum network has grown. Activity and engagement with non-fungible tokens (NFTs) and Decentralized Finance (DeFi) have caused a surge in Layer 1 (L1) blockchain activity. In turn, the demand for blockspace, represented by gas costs, has increased. And the time for transaction finality has risen due to the increased network load. Whilst the Ethereum Merge set the groundwork for future gas fee optimizations; it did not directly reduce transaction gas fees.
In the year between the summer of 2020 and the peak demand in the summer of 2021 gas cost in Gwei on the Ethereum network increased by up to 1300%. The need to make transactions fast and affordable spurred the creation of two primary forms of rollup: Optimistic and Zero-Knowledge (ZK).
Rollups help remove the computational demands on the Ethereum network by moving transaction processing off-chain, converting them into a single piece of data and then submitting back on Ethereum as a batch to reduce the associated cost and time. The big difference between the two is that Optimistic roll-ups utilize fraud proofs, whereas ZK-rollups rely on zero-knowledge proofs to verify changes to the main chain.
Optimistic and ZK-rollups: Fraud Proofs vs Validity Proofs
Fraud proofs bundle transactions off-chain and then repost them to the L1. After a bundle has been submitted on the L1 there is a challenge period, during which anyone can challenge the result of the roll-up by computing a fraud proof. Similarly, zero-knowledge proofs batch transactions off-chain and submit them as a single transaction. Where they differ is rather than assuming the transactions are correct initially, they use a validity proof to instantly prove whether the transactions are valid. Once the transactions have been confirmed as valid they are then submitted to the L1. This is how they derive their respective names - fraud proofs are where the transactions are checked retrospectively to see if there are any fraudulent transactions, whereas validity proofs are completed before the transactions are submitted to the L1.
Whilst there are prominent projects for both, they each come with their own respective benefits and drawbacks. Optimistic roll-ups have the advantage that fraud proofs are only required when there is an issue. This means they require less computational resources and are able to scale well. The trouble lies with the challenge period. A longer challenge period increases the likelihood that any fraudulent transactions are identified, however, it also means that users have to wait longer to withdraw their funds. For leading optimistic rollup solutions, such as Arbitrum and Optimism, this waiting period can last up to a week. Alternatively, ZK-rollups have the advantage of always reflecting a correct L2 state. Their drawback is that proofs are required for all state transitions, rather than solely when they are contested, which limits scalability. This is further compounded by the complex nature and early stage of the technology.
Despite their respective challenges, ZK-rollups are being heralded as the future for roll-ups. This is primarily due to the automatic generation of validity proofs increasing the security of the protocol, the significantly reduced time to withdraw due to there being no challenge period, and that ZK-rollups boast better data compression. For these reasons, we will hone in on the current state of the ZK-rollup space, the latest innovations, and what lies ahead in the future.

The ZK-Rollup Space
As we’ve discussed, ZK-rollups are predominantly in the focal point with players like zkSync, Starknet, Polygon zkEVM, and Scroll all raising large amounts of capital to develop their solutions despite only StarkNet having launched on mainnet ($780MM in total). Each of these projects has taken its own angle, differing primarily across their rollups data availability strategy and their proving algorithm. The data availability strategy determines where the state data of a roll-up is stored, on-chain storage has increased security but it uses up block space on the Ethereum network which reduces transaction throughput.
The proving algorithm is the means of generating a validity proof, which can either be STARK or SNARK. Both of these algorithms help developers to relocate computation and storage off-chain, in turn increasing scalability. They are also able to verify whether a user has sufficient funds and the correct private key without having to access the information itself, thus improving the security. You can read more about the technical differences here. STARKs have the advantage of offering more scalability, security, and transparency compared to SNARKs. But the drawback STARKS have is a larger proof size, which takes longer to verify, and that SNARKs comparatively only use 24% of the gas. Therein for both SNARKS and STARKS we have the tradeoff between speed and cost vs. scalability, security, and transparency. Whilst many different methods are being explored there is not yet a definitive answer as to the best way to set up a ZK-rollup. Each configuration brings respective benefits and many developers are still exploring the optimal choice or combination for their roll-up designs.
The Hurdles To Overcome
As we’ve discussed, ZK-rollups are still in development and there are various challenges that need to be overcome before blockchain users are able to reap their full benefits. Language compatibility is one such challenge; translating Ethereum Virtual Machine (EVM)-friendly programming languages, such as Solidity, into a custom-built language specifically optimized for ZKP can help boost their efficiency, but it brings with it adoption challenges for developers. For example, StarkNet is looking to solve this with Warp, a Solidity to Cairo (the language of StarkNet’s ZKP) language compiler that looks to automatically convert Solidity into Cairo. Using Warp removes the need for developers to rewrite their code in Cairo, making it a much smoother process.
Other challenges include the secretive nature of projects, with many going against the open-source ethos of crypto due to concerns over first-mover advantage and capturing a sticky userbase. Most ZK-rollups were first launched this year, highlighting the amount of work that is yet to be done in the space.
Lastly, whilst rollups (both optimistic and zero-knowledge) have the benefits of improved speed and cost, it tends to be at the expense of decentralization. This is due to the inherent need for sequencers, the actors batching transactions and committing proofs to the L1. All rollups currently need a centralized sequencer and use upgradeable smart contracts that are managed by a single entity. Because the space is still so early, a central focal point is typically required for quick fixes to bugs in the code. Add to that the projects aren’t open-sourced, creating another hurdle for community members to act as sequencers. Many projects have indicated that they plan to decentralize their sequencer functions in the future, but this will undoubtedly take additional resources and time.
Decentralization Plans
Launching a token and open-sourcing code will be the next steps for many of the projects seeking decentralization. Tokenization of these services to generate activity and decentralize the product is another area where we expect to see a myriad of different solutions cropping up as projects look to create the most scalable, decentralized and active L2 on the market. StarkWare and zkSync are both planning to launch a token and Polygon could potentially use MATIC to support Polygon’s zkEVM initiative. Token engineering on ZK-rollups is an even more nascent space than the optimistic roll-up technology and finding an effective and sustainable model can differentiate and boost adoption.
The Future
zkEVMs are still in their very early stages and the race is on to launch on mainnet. StarkNet has the first-mover advantage but still has challenges with regard to supporting Solidity features due to the use of Cairo, leaving room for competitors to make improvements. The projects that are able to amass significant user bases will attract Decentralized Applications (Dapps) developers, in turn bringing more dapps to their platform and increasing the feature set. ConsenSys’ zkEVM is currently moving to testnet and are focussing specifically on dapp developers for this reason, leveraging tools like MetaMask, Infura and Truffle so that they can deploy and manage applications as if they were directly using Ethereum.
And whilst we have discussed the current players in the zkEVM market, other predominant rollup solutions like Polygon, Optimism, and Arbitrum still command a significant market share. As zkEVM solutions mature, we may see these projects look to transition to validity proofs or hybrid solutions, leveraging their existing user bases to attract dapp development and maintain their market dominance. In the end, the many rollup solutions (and the increased competition between them) will continue to improve the web3 user experience and introduce platforms for applications to onboard the next generation of users.
Given these threats, we’re not surprised at the secrecy of projects in the space, but we believe the true winner will be able to leverage the efficiency of ZK-rollups and combine it with a seamless developer and user experience to come out on top.
This is a guest post from CoinMarketCap with Consensys and has been edited for style. The original article was published here and was also included in the third Build section of the 2023 CMC Crypto Playbook.
What is CoinMarketCap:
CoinMarketCap is the world's most-referenced price-tracking website for digital assets in the rapidly growing cryptocurrency space. Its mission is to make crypto discoverable and efficient globally by empowering retail users with unbiased, high-quality, and accurate information for drawing their own informed conclusions.
Where to find CoinMarketCap:
Website | Twitter | Telegram | LinkedIn |
What is ConsenSys:
ConsenSys is a leading Web3 software company. It enables developers, enterprises, and people worldwide to build next-generation applications, launch modern financial infrastructure, and access the decentralized web. The ConsenSys product suite includes Infura, Quorum, Codefi, MetaMask, Truffle, and Diligence.
Where to find ConsenSys:
Website | Twitter | Discord | LinkedIn |
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 $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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Pi Network Debuts New PiOS Software Licensing Program Together With Hackathon

PiOS is a new open source software program that encourages developers to create and use open-source applications and tools within the Pi ecosystem. The software also allows developers to apply and work on other developers' contributions.
Pi Network Open Source Software License Program
Pi Network debuted its Pi Open Source (PiOS) License program at the hackathon launch to encourage developer collaboration and build its large ecosystem. The initiative enables developers to share their code while building valuable applications on the blockchain.
The protocol’s PiOS license ensures that developers create and utilize open-source applications and tools within the Pi ecosystem. In a press release shared with BSC News, the team stated that the licensing framework would ensure developers collaborate to develop unique applications on Pi Network.
“This unique licensing framework allows community developers to build on the contributions of one another, leveraging crowd wisdom of the large community. By consolidating community developers’ collective knowledge and building efforts, Pi Network aims to facilitate diverse ideations and executions to create a robust ecosystem of apps and utilities for the Pi community members,” the statement read.
The initiative enables developers to build on works created by others. Through the collective effort of developers, Pi Network aims to combine unique ideas to generate a robust ecosystem of valuable applications. One of the founders of Pi Network, Dr. Nicolas Kokkalis, also shared his thoughts about the initiative.
“Since Pi’s inception, we have always encouraged cross-collaboration. Through PiOS we hope to enable developers who wish to share their codebase with the community to do so, and also invite contributions to their code from other community developers,” said Dr. Nicolas Kokkalis. “Our hope is that by allowing Pi Community Developers to create open source applications and tools for the Pi Ecosystem, the community will continue to flourish and encourage others to build as well.”
Developers have access to the code repository licensed by other Pi community developers under the PiOS license. Further, developers receive Pi rewards as encouragement for contributing their code to the repository and making their work available to one another.
The Pi hackathon commenced on January 9th and will end on February 28th. The event invites participants to build apps across three themes: Social Media, GameFi/Entertainment, and Consumer Utilities. As of publication, over 4200 participants have registered for the event. BSC News has an article HERE for users interested in building on the blockchain. You can also visit the Pi hackathon page for more information.
What is Pi Network:
Pi Network is a novel cryptocurrency and developer platform that allows mobile users to mine Pi coins without draining the device’s battery. Pi’s blockchain secures economic transactions via a mobile meritocracy system and a full Web 3.0 experience where community developers can build decentralized applications (dApps) for millions of users.
Where to find Pi Network:
Website | Twitter | LinkedIn | Facebook | Instagram |
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 $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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BNB Chain Partners with CyberConnect for Global Hackathon: Connected 2023

Global hackathon begins immediately with judges and mentors from major Web3 projects assisting in the production.
Connected 2023 Global Web3 Hackathon
BNB Chain has announced a partnership with CyberConnect to launch a social Web3 hackathon.
The hackathon will take place from Feb 7 - March 13, according to a press release shared with BSC News. Applications to participate will remain open until February 20. The hackathon begins with immediate effect featuring over $50,000 in prizes available, project support, and more.
“Connected 2023 aims to empower a new generation of innovators by helping them bring their Web3 social ideas to life and then to market. With this event, BNB Chain and CyberConnect will empower passionate builders to kick start their journey and grow their hacks into fundable protocols," said Wilson Wei from CyberConnect.
The hackathon will have an array of ways for participants to get involved, ranging from individualized workshops, developer info sessions, team-matching sessions, and more.
The event features cosponsors Notifi, Lit, Livepeer, and XMTP plus mentors and judges from major names like Animoca Brands, Multicoin Capital, StepN, and Binance.
Interested projects can apply here.
BNB Chain is also running a concurrent developer competition called Game Jam. Running during the entire month of February, Game Jam is a healthy competition to develop social games where projects can compete for similar incubation support as the CyberConnect 2023, however, it is more specific to BNB Chain.
What is BNB Chain:
Previously known as the Binance Smart Chain (BSC), BNB Chain is a community-driven, decentralized, and censorship-resistant blockchain that is powered by Binance. It consists of BNB Beacon Chain and BNB Smart Chain, EVM compatible and facilitating a multi-chain ecosystem. Through the concept of MetaFI, BNB Chain aims to build the infrastructure to power the world’s parallel virtual ecosystem.
Find more about BNB Chain here:
Website | Twitter | Discord | Telegram | GitHub |
What is CyberConnect:
CyberConnect is a decentralized social graph protocol with identity self-sovereignty and network effects. It enables users to create profiles on BNBChain as the anchor of users’ decentralized identities. Profile owners can travel across dApps seamlessly without worrying about recreating their network on every new platform. With CyberConnect, users own their social graph, content, monetization channels, and more social data. Link3.to for example is built on CyberConnect and has more than 1,100 verified organization clients, 23k users’ all-in-on link profiles, and 200k monthly active users issued more than 1m social-related transactions on BNB Chain.
Where to find CyberConnect:
Website | Twitter | Discord | GitHub |
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 $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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Core DAO Discuss the Current State of Mainnet and Warns Against Scam $CORE

Core DAO warns users to beware of scam $CORE tokens ahead of the upcoming airdrop on February 8th.
Core DAO Release $CORE Market Information Ahead of Airdrop
The $CORE airdrop is scheduled for February 8th at 12 PM UTC. Ahead of the notable milestone in its development, the team has published details about the airdrop, including important mainnet information for the community.
In preparation for the airdrop, Core DAO published a Twitter thread on February 7th to educate users about the coin. The Satoshi Plus consensus protocol warned users to note illicit $CORE tokens launched on several platforms. The team stated that the airdrop would allow scammers to deceive Core enthusiasts.
Time for a look into the current state of mainnet, market formation, and safety 🧵👇
— Core DAO (@Coredao_Org) February 7, 2023
Core mainnet is live, and users are urged to visit Core DAO’s official sources for more information about the airdrop to avoid scams.
While the airdrop will create liquidity for $CORE, market volatility is inevitable. To regulate the difficulties in the market, top-tier market makers and exchanges support legitimate early market $CORE formation.
“The liquid $CORE markets will open around the same time as the Feb 8th airdrop. In the coming days, $CORE transactions from Core DAO’s public reserve multi-sig will be executed to get CORE tokens to partner market makers so that liquid markets exist when the airdrop occurs,” Core wrote. “Having legitimate $CORE token markets available when the airdrop occurs will allow for safer, faster, and more accessible trading for Core users.”
Once the airdrop is complete, users can participate in the network’s development by staking. You can learn how to stake on Core DAO HERE. Also, read our article on the benefits of supporting Core’s aspirations through staking.
What is Core DAO:
Core DAO is the official decentralized organization developing the Satoshi Plus ecosystem. It represents an opportunity for miners to access new revenue streams by contributing hash power to the chain. Inspired by the principles of both blockchains, Core displays a deep appreciation for the crypto ecosystem's history and an even greater excitement for Core’s role in its future.
Where to find Core DAO:
Website | Docs | Twitter | Discord
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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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