


A recap of notable news from the week.
Recapping the Week in DeFi
As the DeFi and crypto space continues to evolve at a rapid pace, it's essential to stay informed about the latest developments and trends. Our weekly recap provides you with a concise yet comprehensive overview of the most significant news and trends in the DeFi and crypto space, helping you stay informed and up-to-date with the latest happenings.
Binance Lay-offs Not a Cost-Cutting Measure - CZ Dismisses Rumors

Binance CEO Changpeng Zhao (CZ), responded to rumors of layoffs at the company, dismissing them as FUD (Fear, Uncertainty, and Doubt) and reaffirming Binance's dedication to talent and profitability. CZ explained that Binance implements a "bottom-out" program, regularly parting ways with individuals who may not fit the company's culture or circumstances.
Get all the details here.
Telecommunications Giant Deutsche Telekom Joins Forces with Polygon as Validator

Leading global telecom company, Deutsche Telekom has partnered with Polygon as validator. As only one of the 100 validators on the network, Deutsche Telekom will fully leverage the power of blockchain technology while contributing to the network's security.
Learn more in this article.
Huobi HK Expands Services with Spot Trading and Virtual Assets Custodian in Hong Kong

Crypto exchange Huobi recently announced its expansion in Hong Kong. Huobi HK unveiled the availability of spot trading and managed services for professional and retail customers in the region. The exchange also confirmed the submission of an application to obtain a virtual asset exchange license from the Hong Kong Securities Regulatory Commission.
Learn more here.
Jimbos Protocol Suffers Security Breach, Records $7.5 Million in Losses

Arbitrum-based Decentralized finance (DeFi) protocol Jimbos Protocol was recently hacked, resulting in the loss of 4090 ETH (worth about $7.5 million). Jimbos has acknowledged the exploit and confirmed that they are taking immediate action by collaborating with law enforcement and security experts to resolve the issue.
More details here.
Hong Kong-based First Digital Launches USD Stablecoin FDUSD

Hong Kong-based company First Digital has launched a new stablecoin called FDUSD. The stablecoin is backed by either one U.S. dollar or an equivalent asset held in regulated financial institutions in Asia. FDUSD provides diversification from other stablecoins and is currently available on Ethereum and BNB Chain, with plans for future blockchain support.
Find more information in this article.
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.
Related News


Gyrowin: Revolutionizing Gaming and DeFi with Cross-Chain Innovation

Powered by its native token GW, Gyrowin combines the excitement of lottery games with the security and transparency of decentralized finance to offer users exciting rewards.
Gyrowin, a groundbreaking cross-chain decentralized gaming, liquidity, and asset management platform, is making waves in the world of blockchain technology and DeFi. With a mission to provide transparent and fair reward distribution, Gyrowin is set to redefine how players engage with lottery games and DeFi protocols. Let's delve into the key aspects of this innovative project.

Lottery Games for Fun and Profit
Gyrowin recognizes the enduring popularity of lottery games and is capitalizing on it. Offering a range of lottery games integrated with staking, lending, and borrowing protocols, Gyrowin allows players to have fun while winning. The platform operates game liquidity pools on major chains like BNB Chain, Polygon, Tron, and Solana, offering a diverse gaming experience.
The platform’s variety of cross-chain lottery games include the 6/41 Lottery, Gylotto, 5/9 Lottery, 10 minutes Lottery, and Instant scratch NFT Lottery. This cross-chain approach ensures accessibility and inclusivity for players across the crypto landscape.
Tokenomics
At the heart of the Gyrowin ecosystem lies its native token Gyrowin ($GW), designed to serve multiple functions, including governance voting, liquidity currency, and incentives for DeFi users. The token structure is meticulously balanced, with allocations for various purposes, including liquidity, reserve, marketing and more, ensuring a sustainable supply-demand ratio. Notably, Gyrowin implements a burning mechanism and regular buybacks to maintain token value. Learn more about the token distribution and allocation here.

Borrowing and Lending with Ease
Gyrowin offers a cross-chain DeFi platform for borrowing and lending tokens across multiple chains, introducing unified liquidity pools that provide higher APR for lenders. Users can borrow from different chains seamlessly, eliminating the need for collateral bridging. The platform also offers zero liquidation on collateral, enhancing user security.
Decentralization and Transparency
The platform places a strong emphasis on decentralization and transparency. Leveraging Chainlink oracle VRF for automation and accurate token price information, Gyrowin ensures fair lottery draws and automated lotteries. The platform also utilizes blockchain infrastructures like The Graph and layer zero for a seamless cross-chain experience.
Money Plant Staking and Freeze Lock
Gyrowin's staking process is designed to be competitive and rewarding for participants. Using a first-come, first-served approach and limiting staking amounts, Gyrowin offers higher yields in a short period. The platform’s innovative Freeze lock feature ensures that unlocked tokens are only available for use after a cooling period, providing additional security.
Smart Contracts and Audits
Security is a top priority for Gyrowin. The project's smart contracts have undergone thorough audits by leading security providers such as Hacken and Solidproof, ensuring the highest level of safety for users' assets.
Gyrowin is a game-changer in the blockchain and DeFi space, combining the excitement of lottery games with the security and transparency of decentralized finance. With its innovative approach to cross-chain functionality, governance tokens, and staking, Gyrowin is set to reshape the future of gaming and DeFi.
Stay updated with Gyrowin and its development via the official links:
Website | Twitter | Telegram | Docs
Disclaimer: 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 $400. 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.
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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