di April 23, 2022 0

 Seasonal - Protect your funds and grow wealth.


Blockchain is a modern technology that really provides a lot of convenience for users in conducting transactions. Transactions are carried out transparently from one person to another from various parts of the world. Bitcoin is the first blockchain technology introduced to the internet network. Along with the development of technology, various other blockchain technologies have emerged with different names, both with the parent blockchain and those developed through smart contract networks.


INTRODUCTION

Seasonal tokens are designed with innovative features that make the price (Value) increase seasonally. This makes seasonal tokens a good and promising investment as any good investor will always want to take those profits to make a reasonable profit.

Knowing when to invest and when to sell is one of the hardest parts of business investing but with the advent of seasonal tokens, an investor in the cryptocurrency business can ascertain the actual period to buy or sell. When the price of Spring increases, it can be exchanged for Summer at a lower price value to increase the number of tokens held.


Trading Cycle:

A user can hold Spring tokens and exchange them for Summer tokens once the price goes up and also trade Summer tokens for Autumn when Summer prices increase. This cyclical trading method will increase the number of tokens held by the user which means higher returns if he ends up wanting to sell.

Farming:

With 9% of tokens being newly mined and distributed to the farm from the seasonal token mining pool, every investor who uses his token to provide liquidity and shares in the farm will get four seasonal tokens.

Token Donation To Farm:

Due to the high yield generated by tokens used for farming, seasonal tokens are also donated to farms to increase and maintain token value. Farming increases token rotation and makes it more profitable for cyclical trading.


What makes Seasonal unique?

Upgrade your tokens easily.

An investor who trades 3 Spring tokens for 5 Summer tokens will have more total tokens after trading than before.

Profit from Seasonal volatility.

If the price of one of the seasonal tokens drops, you can exchange another seasonal token for it and increase the number of tokens you have. By trading tokens for more Seasonal tokens, you can turn price fluctuations into profit.

No need to trust anyone.

Seasonal tokens are produced by proof-of-work mining, much like Bitcoin.

Simple Seasonal Token Investment

Seasonal Tokens are designed to rise in price relative to each other in a predictable order. Spring will tend to go up in price, then Summer, Autumn, Winter, and Spring again.

Hedging other investments

The total value of an investment portfolio can be made less seasonal, and more likely to rise smoothly, by mixing seasonal tokens with other seasonal investments.

Seasonal Tokens smart contracts


NAME

NETWORK

SYMBOL

DECIMALS

SMART CONTRACT

SPRING TOKEN

Ethereum

SPRING

18

0xf04aF3f4E4929F7CD25A751E6149A3318373d4FE

SUMMER TOKEN

Ethereum

SUMMER

18

0x4D4f3715050571A447FfFa2Cd4Cf091C7014CA5c

AUTUMN TOKEN

Ethereum

AUTUMN

18

0x4c3bAe16c79c30eEB1004Fb03C878d89695e3a99

WINTER TOKEN

Ethereum

WINTER

18

0xCcbA0b2bc4BAbe4cbFb6bD2f1Edc2A9e86b7845f

 How to buy your tokens



Step 1
Buy ETH for your wallet
Go and buy Ethereum on the exchange that you prefer and send it to your Metamask/Trust wallet

Step 2
Choose your token
Check the prices of the four tokens in the table below and decide which to buy - you can buy one type or all types if you want.

Step 3
Pick your pair
Click on the button on the table that consists of the pair/pairs that you have chosen and do the swapping in Uniswap.

Step 4
Welcome
Now you are part of the growing family of Seasonal Tokens.
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di November 24, 2021 0

DafriBank-The Multipurpose African Bank

DafriBank.

As blockchain and crypto expertise have been at the forefront of the next industrial revolution in recent times, Africa has made concerted efforts to ensure inclusion in the dialogue. As an African multipurpose financial institution with more than 1 million clients worldwide, DafriBank presents the venture of the African Digital Finance institution (DBA) and aims to make it Africa's number 1 digital currency.

Introducing DafriBank

DafriBank is an African multipurpose financial institution exploring immediate and higher-end options for saving, generating funds, handling buyer and corporate cash anytime, anywhere. Standard banks are finding it difficult to handle demand from trendy digital-focused companies, which has limited their progress. DafriBank overcomes this weakness by offering a typical digital banking company that may be fast, secure, and cost-effective. Its aim is to democratize monetary enterprises, bring individuals out of the spiral of the standard banking system, and encourage individuals and companies to stagnate and prosper in the international financial situation.

More than 1 million clients worldwide use DafriBank for similar purposes with no hidden fees, smooth security features, easy payments, and no delays. DafriBank supports personal accounts other than corporate accounts. Non-public financial savings accounts are accounts that serve clients' deposits towards monetary security and peace of mind, and corporate accounts help clients deal with their daily banking and special business needs such as investing, blocking free 3rd round transactions, financial saving purposes, and fast transactions worldwide.

DafriBank Aims for Africa's No.1 Crypto Bank

Statistics from Google Tendencies have revealed that African countries are all consistently ranked in the top 20 countries worldwide in cryptocurrency-related searches, demonstrating the huge potential of crypto in Africa.

But the reputation of the cryptocurrency and blockchain technology options in Africa while the laudable one leaves a lot to be desired. To encourage wider adoption of nascent technologies namely blockchain and cryptocurrencies, examples of extra progressive uses must be put forward to disrupt many additional industries.

DafriBank is a DBA, a cryptocurrency setup to realize its elite position as Africa's premier cryptocurrency due to the increasing variety of uses made specifically for Africans. DBA was specifically created to behave instead of foreign money used throughout the DafriBank ecosystem to help its customers take advantage of trendy instruments similar to blockchain and cryptocurrencies to streamline banking processes. The token was later adopted as a governance token for financial institutions. In addition to having a say in the future choices of financial institutions, buyers can vouch for a DBA and get curious.

Growing with agency perception

DafriBank has the agency's perception and dedication to providing an empowering, enabling, and accessible digital society, without leaving anyone behind. In this changing world, he seeks to absorb the traditions of connectivity, digital expertise, and relative products that can help close the digital divide. DafriBank also has a basic perception that there is energy in connectivity and digital companies to strengthen economic capabilities.

DafriBank (DBA) IEO Project 

This financial technology company is Africa's largest digital entrepreneur-focused bank and is the flagship brand of DafriGroup PLC, a publicly-traded company founded in South Africa, the UK, Botswana, Nigeria, and the Comoros Island.

DafriBank became the first bank in Africa to offer its business accounts a built-in Merchant API which has attracted global household names such as Bittrex Global, IQ Option, XM Global, Deriv LTD (formerly known as Binary.com) Exness Brokers, Globex360, FXCM Brokers, Fresh Forex, and ChainEX just to name a few.

We recently signed a strategic partnership agreement with one of the largest commercial banks in (Nigeria) to co-brand and offer MasterCard credit & Debit cards that can be used on a global scale. We have partnered with Circle, a global financial technology company, the second-largest USDC Stablecoin issuer, and are in the process of bringing Credit & Debit card payments into our system.

The DBA token is currently trading on CoinMarketCap at $11.5 per token with a diluted market cap of $1,144,957,338 with an ATH of $34.38 and a low of $10.49.

$DBA is built under the Binance Smart Chain Protocol (BEP20) to make it highly scalable for users. Smart contract address 0x1006ea3289b833b6720aaa82746990ec77de8c36

Token Details

 

IEO

Ticker

DBA

Latoken

Token Protocol

Other

Project Website

https://www.dafribank.com

ProBit

Project Industry

Commercial Bank

Token supply for session

1993131

P2PB2B

Token Price in USD

1.8 USD

Minimum Purchase Amount in Tokens

1 DBA

 

Minimum buy amount in contribution currencies

ü  0.00003143 BTC

ü  0.00041621 ETH

ü  1.8 USD

ü  5.33017471 XLM

ü  1.8 USDT

Legal

Registration country: South Africa

Office address: 35 Mozart Lane Midrand, Forte Complex, Johannesburg, South Africa, 1685

Digital Bank of Africa Roadmap

Q4 2019

ü  Idea Conception

ü  Define market segments

ü  Estimation of development cost

1.       Q1-Q2 2020

ü  Project feasibility

ü  Preliminary Research

ü  Team structuring

ü  Business Development and Logistics

ü  First Investor Donations to the tune of $5 million

ü  Legal processes

Q3 2020

ü  DafriBank Digital Banking system development

ü  DafriExchange Web & Mobile App development

ü  Development of DafriPay

ü  DafriEstate expansion and land acquisition

Q4 2020

ü  DafriExchange open for public trading

ü  DBA Token Internal sales month 1 begins.

ü  DafriBank Digital Banking system pre-registration begins

ü  The development of the DeFi application begins

Q1- Q3 2021

ü  DBA Token Internal sales end.

ü  Listing of DBA on Tier 1 exchange platforms.

ü  Launch of DafriBank iOS Mobile App

ü  Start of DafriBank 1 million customer campaign begins.

ü  Development of DafriNative Wallet with DApp Integration

ü  OMAHA hotel Mthatha open for bookings

ü  DafriBank final testing and release to the public

ü  Release of DafriPay for public use

Q4 2021

ü  DafriBank ATM card rollout

ü  Integration of DeFi Lending Protocol to Dafri network

ü  End of vesting period and commencement of 3% monthly token release to investors

ü  OMAHA hotel Limpopo open for bookings

ü  The development of acquired landed properties begins

2.       Q1- Q4 2022

ü  DafriBank commercial banking license application submission to CBN with N25 billion down payment. DafriBank Nigeria headquarters construction begins

ü  DBA adopted as the main currency across all DafriNetwork

Q1 - Q4 2023

ü  The launch of DafriChain, The expansion of OMAHA Hotels into West Africa

ü  Preliminary Research of DafriBlockchain University of Africa (DBUA) begins

ü  Preliminary Research of DafriPrivate Hospital begins.

ü  The establishment of DafriSport Academy in 3 major African football countries., token burn

ü  The process of establishing DafriAir begins

For more information about DafriBank, you can visit the official website. Some of the information we present is also sourced on the DafriBank website. You can check details about investing in DafriBank.

DafriBank [DBA]

DafriBank official website:

Ø  https://www.dafribank.com/

Ø  https://twitter.com/DafriBank?s=09

Ø  https://www.facebook.com/DafriBank/

Ø  https://t.me/DBATalk

Ø  https://www.instagram.com/dafribank/

Ø  https://www.linkedin.com/mwlite/company/dafribank-limited

Ø  https://www.dafribank.com/investor-relations


Author: 0x74042476676A95a5B13B515293cd37f979b07F82


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di November 19, 2021 0

How to Add a Custom Network to MetaMask

Custom RPC Metamask

This is a good question because many users are not aware of different specialized networks with lower gas costs or how to set them up in MetaMask.

Some people mistakenly think that MetaMask charges high fees and tries to rip it off. In reality, it is the market demand for blockchain networks that determines the price. MetaMask has no control over this. Plus, we love our users.

If things get expensive on one network, you can go to another network with possibly lower fees, while Ethereum starts to scale and lower costs.

TL; DR:

  • The dedicated network is an Ethereum compatible network.
  • Gas is determined by network requests, not by MetaMask or any wallet provider.
  • Different networks have different gas costs based on their design and demand.
  • Sidechains and Layer-2 solutions are special types of networks that you can add to MetaMask. They may have lower gas costs at the expense of decentralization or security.
  • Sidechains and Layer-2 solutions mainly differ on how their blocks are validated.
  • Examples of custom networks are Binance Smart Chain, Polygon (MATIC), Huobi ECO Chain, Avalanche, and xDai.

After successfully installing (or re-installing 101) MetaMask and securing your secret recovery phrase (aka seed phrase) 50, you decide you want to interact with a custom network.

How do you do this? First of all, what is a custom network?

What is a custom network?

The Custom Network is a non-Ethereum network compatible with EVM (Ethereum Virtual Machine). They are based on Ethereum but not Ethereum. Think of them as Ethereum siblings or relatives. They share many of the same features but differ in several key ways.

What they have in common is that they execute smart contracts in the same way. The difference can lie in achieving consensus (agreement between different nodes) and how much data can be placed on their blockchain blocks.

Since they are an Ethereum based network, your address will be the same across all networks. That means that one secret recovery phrase (aka initial phrase) can access your assets across all your accounts and networks.

Reminder: Never share your start phrase, aka secret recovery phrase.

Why is this blockchain different?

Different blockchains can be used for different needs. As the industry evolves, many will specialize in different use cases. In general, blockchains can specialize through three avenues: scalability (high throughput), decentralization, or security. This is known as the security trilemma and states that a blockchain can have 2 of 3 properties, but not all three. This is called the trilemma of security.

Blockchain-based video games with small, high transaction volumes will have different requirements than borrow/borrow protocols. Video games will require high throughput and be willing to sacrifice a little security. Lending and lending protocols will value security and decentralization over higher throughput. The real-world effect of this exchange is that a less scalable blockchain generates higher gas but is more secure.

Each network usually has its own special token which is used to pay for network activity. Ethereum uses ETH (Ether). Binance uses BNB. MATIC is the native token for Polygon.

MetaMask and Gas Fees

The reason gas prices are high is not that MetaMask controls costs. MetaMask is just a valuable interface to the internet. This is similar to how your web browser is an interface to the internet of information.

No wallet can control gas costs on the blockchain network because the demand dictates it. There is very little space in blockchain blocks, which are offered by those who want their transactions confirmed. Currently, miners choose the highest paying fees to maximize profits and remain incentivized to run the network.

What is Side Chain vs Layer-2?

Sidechains and Layer-2 chains are scaling solutions to enable more transactions at less cost by removing them from the main network. Think of them as side roads that cars can drive to reduce traffic on Main Street.

In general, the difference between sidechains and layer 2 is how the network is secured. Sidechains secure their network by having their own validators or miners. That means they have greater independence and flexibility. However, depending on the number of block validators, security is lacking.

Additional note: Validators are like miners in their role of verifying network transactions. However, how independent nodes agree on their shared status (consensus mechanism) is Proof of Stake versus Proof of work.

The Layer-2 solution locks into the main network and leverages the main network validator for security. This increases their security but reduces their independence and adaptability.

You can learn more about sidechains via EthHub 64 and about Layer-2 via Ethereum.org 30.

For the more technically inclined here, listen to Vitalik Buterin talked about the Layer-2 20 solution or read about it. 2 Additionally, here is a post about sidechains from ethresearch.ch 18.

Popular Custom Networks:

  • The most popular custom networks at the time of this writing (around May 2021) are:
  • Binance Smart Chain
  • Polygon (MATIC)

HECO (Huobi Eco-Friendly Chain)

Please note that Polygon used to be called Matic. After the rebranding, their token is still called MATIC.

Others who begin to see traction include:

  • avalanche
  • xDai

Crypto is fun! Experiment with different networks and discover new things. Ethereum is the leading and most secure network that is rapidly becoming the settlement network for the world.

However, due to the high cost of gas, many are locked up. Instead of missing out on the fun, try out the new chains, including the many Layer-2 and sidechain solutions that are out now.

In general, how to set up a custom network?

Maybe your custom network is not described here. It does not matter. As the ecosystem grows, more chains will come out.

Usually, you can visit the protocol website. They will have information on how to configure MetaMask as a custom network.

Please be careful to get this information from the official website of the project. It is possible to connect to a fraudulent network and become a target for phishing or lose your funds.

What is the difference between Mainnet and Testnet?

Mainnet is where tokens have real value. Testnet is where developers test their smart contracts. The Testnet token has no value.

Testnet tokens are given out for free through the faucet. However, they are distributed in small quantities to ensure people don't stockpile them.

Avoid being fooled into thinking that your testnet tokens will be converted into mainnet tokens and pay a fee.

How to Add a Custom Network in MetaMask?

Easily find the section for adding a Custom Network in MetaMask as shown here.

Once you are in this section, configure the fields to information for your preferred Ethereum-compatible blockchain network.

Please note that neither Bitcoin, Dogecoin, or Cardano are Etheruem compatible, so they cannot be added to MetaMask and require their own wallet.

Also, please note that Binance Smart Chain (BSC) is different from Binance Chain. Binance Smart Chain is an Ethereum compatible smart contract platform that can be added. You can tell that the network is BSC, not Binance Chain because BSC addresses start with 0x (followed by address), whereas Binance Chain starts with BNB (followed by address).


How do I set up Binance Smart Chain?

For more info see their article. 526

Binance Smart Chain Mainnet

Network Name: Binance Smart Chain

New RPC URL: https://bsc-dataseed.binance.org/

ChainID: 56

Symbol: BNB

Block Explorer URL: https://bscscan.com

Binance Smart Chain Testnet

Network Name: Binance Smart Chain - Testnet

New RPC URL: https://data-seed-prebsc-1-s1.binance.org:8545/

ChainID: 97

Symbol: BNB

Block Explorer URL: https://testnet.bscscan.com


How do I set up Polygon (MATIC)?

For more info, see their official docs. 3.2k

Polygon Mainnet

Network Name: Polygon Mainnet

New RPC URL: https://rpc-mainnet.maticvigil.com/

ChainID: 137

Symbol: MATIC

Block Explorer URL: https://explorer.matic.network/

Polygon Testnet

Network Name: Mumbai TestNet

New RPC URL: https://rpc-mumbai.maticvigil.com/

ChainID: 80001

Symbol: MATIC

Block Explorer URL: https://mumbai-explorer.matic.today/


How do I set up xDAI?

For more mainnet info, please see their official docs. 73.

For more testnet info, please see POA’s official docs. 35.

xDAI Mainnet

Network Name: xDai

New RPC URL: https://rpc.xdaichain.com/ 

ChainID: 0x64

Symbol: xDai

Block Explorer URL: xDai (xDAI) Explorer

xDAI Testnet

No Testnet is available for xDai. For testing purposes, it is recommended that developers first deploy to the POA Sokol testnet.

POA Core is an autonomous network secured by a group of trusted validators. It is essentially a separate network with its own set of validators versus using Ethereum.

Network Name: Sokol Testnet

New RPC URL: https://sokol.poa.network

ChainID: 77

Symbol: SPOA

Block Explorer URL: POA Sokol (POA) Explorer


How do I set up Avalanche?

For more mainnet info, please see their official docs. 115

For more testnet info, please see their official docs. 15

Avalanche Mainnet

Network Name: Avalanche Network

New RPC URL: https://api.avax.network/ext/bc/C/rpc

ChainID: 0xa86a

Symbol: AVAX

Block Explorer URL: https://cchain.explorer.avax.network/

Avalanche FUJI Testnet

Network Name: Avalanche FUJI C-Chain

New RPC URL: https://api.avax-test.network/ext/bc/C/rpc

ChainID: 43113

Symbol: AVAX

Block Explorer URL: https://cchain.explorer.avax-test.network


Avalanche Local Testnet (AVASH)

Network Name: Avalanche Local

New RPC URL: http://localhost:9650/ext/bc/C/rpc

ChainID: 43112

Symbol: AVAX

Block Explorer URL: N/A


HuobiChain Mainnet (International)

Network Name: HuobiChain- Mainnet

New RPC URL: https://http-mainnet.hecochain.com

ChainID: 128

Symbol: HT

Block Explorer URL: https://hecoinfo.com

HuobiChain Mainnet (Mainland China)

Network Name: HuobiChain- Mainnet (China)

New RPC URL: https://http-mainnet-node.huobichain.com

ChainID: 128

Symbol: HT

Block Explorer URL: https://hecoinfo.com

HuobiChain Testnet (International)

Network Name: HuobiChain Testnet (International)

New RPC URL: https://http-testnet.hecochain.com

ChainID: 256

Symbol: HT

Block Explorer URL: https://scan-testnet.hecochain.com

HuobiChain Testnet (Mainland China)

Network Name: HuobiChain Testnet (Mainland China)

New RPC URL: https://http-testnet.huobichain.com

ChainID: 256

Symbol: HT

Block Explorer URL: https://scan-testnet.hecochain.com


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di November 16, 2021 2

Bitcoin Price Barely Reacts to Taproot Update, Ether Price Rally Eases


Ether's dramatic rise seems to have subsided, although the price is still rising.

Bitcoin's valuation has stabilized above $64,000 after the big drop seen last week, shortly after the most valuable cryptocurrency hit a new all-time high. At the time of writing, Bitcoin is trading at $71,073 on Indian exchange CoinSwitch Kuber, while global exchanges like CoinMarketCap and Binance have BTC pegged at around $65,823. The most popular crypto asset has gained 1.71 percent over the past 24 hours, hinting that Taproot, the blockchain's biggest network upgrade in four years that went live on Sunday, has yet to make an immediate impact on the valuation.

Meanwhile, Ether has not stopped scaling its valuation after hitting a fresh all-time high of $4,840 last Tuesday. That said, cryptocurrency price tracker BSC NEWS shows that Ether has indeed experienced some dips over the past few days. As of writing, Ether was trading at $5,100, up 1.59 percent from a 24-hour low.

Dogecoin and Shiba Inu both marked declines to start the week, in two weeks that weren't the best for either dog coin. Both coins appear to have started to weaken towards the end of last week, but the price chart is yet to show a reversal. While Dogecoin was trading at $0.28 up 0.46 percent, the Shiba Inu price was at $0.000053, down 1.57 percent over the past 24 hours.

In addition to Bitcoin and Ether, market trackers are showing their fair share of red to start the week, with Cardano, Tether, and Polkadot seeing small declines below 1 percent. Meanwhile, Litecoin, Ripple, and Tron lead the list of winners.

Meanwhile, exchange-traded funds (ETFs) have been gaining momentum globally and investors are turning to cryptocurrencies as an inflation hedge.

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di November 11, 2021 0

Binance CEO Outlines Exchange's European Expansion

Binance CEO.

The Binance CEO views France as a natural choice for its European expansion plans by establishing its headquarters in a local jurisdiction

Digital Asset Service Provider in 2022

Binance is foraying into Europe via France to gain Digital Asset Service Provider status in 2022, Changpeng Zhao (CZ) told Les Echos in an exclusive interview. Binance recently announced its engagement with France Fintech, a French non-profit organization for 'Operation Moon'. Binance committed €100 Million for research and development, education, and accelerator programs.

In an exclusive interview, CZ expressed his vision for a France-based operation - 'There is no passport for this type of activity yet, which means that we have to get authorization for every country. As soon as possible, France will be the natural choice for regional headquarters, and even maybe global.'

Binance started out as a technology startup but with the exponential growth in the crypto industry, its role has changed to that of technology and financial service provider. In four short years, he has grown to become one of the industry movers in the crypto space. Regulation and compliance are finally catching up to the crypto market as crypto assets go mainstream.

Binance and other crypto-related institutions have faced an uphill task with regulators around the world. The US Securities and Exchange Commission (SEC) is reportedly investigating the Uniswap and Circle Central Consortium members responsible for issuing the USDC stablecoin.

Challenges Of Traditional Exchange

CZ also talked about the recent rally that saw Bitcoin and Ethereum prices hit all-time highs. There has been speculation that the recent rally was contributed by the approval of the Bitcoin Exchange Traded Fund (ETF) which CZ believes contributed little to the Bitcoin price. Instead, the long-term factor is the gradual decline in Bitcoin supply.

Binance saw a sharp increase in the number of users. It has jumped from 20 million to 85 million this year. In an interview with Bloomberg, CZ also acknowledged ETFs as a positive development that allows traditional exchanges to reach customers that crypto exchanges cannot.

CZ rejected a suggestion from a Bloomberg host that traditional exchanges become competitors of crypto exchanges. Crypto exchanges are only able to penetrate a small part of the global population and if traditional exchanges bring in more customers, it is a big win for the industry.

Finding a Home in Europe?

Regulation is one of the main challenges facing Binance as regulators no longer recognize a decentralized organization. Binance started its operations without a headquarters. However, with more than 3,500 employees worldwide and with more than 600 employees in charge of regulation, Binance recognizes that regulation is necessary.

CZ confirmed that Binance has plans to set up its headquarters at every level; local, regional and global. France is an ideal choice for regional or even global headquarters. The recent initiative, 'Operation Moon', is indicative of Binance's commitment to the growth of the crypto industry in Europe through France.

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di October 17, 2021 2

Binance will Close all Trading with the Chinese Yuan in December

Peer-to-peer trading platform Binance will wipe out the Chinese yuan (CNY) by the end of the year

Chinese Yuan Suspension

Binance is taking firm steps to stop any yuan trading pairs on its platform starting from December 31st. Last Wednesday, October 13, the crypto exchange platform announced that it would be discontinuing yuan trading from peer-to-peer platforms alongside other restrictions.

Binance also confirmed its decision to restrict access to its platform for users based in China. Accounts linked to crypto exchanges will be in a 'withdrawal only' mode which only allows users to make withdrawals, exchanges, and closing positions.

“Binance withdrew from the mainland China market in 2017 and is not involved in any exchange business in mainland China,” the announcement in Chinese reads.‍

Binance does not operate any exchange operations in China and has taken steps to prevent new account registrations from China via geofencing. Houbi, another major crypto, has also announced that it will be gradually retiring its existing Mainland Chinese users by December 31st.

China Intensifies Its Crypto Crackdown

Binance has been out of China since 2017 but it is still possible to trade on its platform using the Chinese yuan. The latest decision to remove the yuan trading pair and restrict access is expected by Beijing to step up enforcement. This includes blocking major crypto-related websites such as CoinMarketCap, Coinecko, and TradingView.

BeePool and SparkPool, the two largest Ethereum (ETH) mining pools based in China have taken steps to halt their operations amid the Chinese government's crackdown on crypto-related activities.

Crypto Industry Will Survive

Various jurisdictions can catch activity by institutions such as Binance and Houbi. In most cases, there is no alternative but to comply or risk facing enforcement action. The cryptocurrency was created as a tool to provide financial democracy. So far it has dominated a total market cap of $2.48 trillion, and the trend of adoption seems to be on the rise.

Many attempts were made to ban cryptocurrencies in several states and to no avail. In general, regulators now prefer to regulate the crypto industry rather than ban it. Some jurisdictions are already adopting crypto-friendly policies and regulations and this may be the preferred approach as crypto becomes mainstream.

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di October 11, 2021 1

NFT Rentals: Why VCs Are Backing a Puzzling New Project


Animoca Brands is leading a $1.5 million bet on reNFT, a year-old DAO that lets you rent out NFTs on the Ethereum mainnet.

Some non-fungible tokens (NFTs) come with exclusive perks. A project helping holders monetize those benefits – all while maintaining long-term ownership – has raised $1.5 million in a seed round led by Animoca Brands.

ReNFT announced the funding round on Friday. In addition to Animoca, the year-old decentralized autonomous organization (DAO) behind the rentable NFT platform is now backed by Lattice Capital, Play Ventures, MetaCartel Ventures, Scalar Capital, LongHash Ventures, SkyVision Capital, Fedora Capital and Maeve Ventures.

The Ethereum-based project recently facilitated the lending of Stoner Cats, an NFT collection whose holders have access to a library of video shorts, and Animetas, whose holders rented their tokens to give temporary access to a private Discord event.

A rising trend in the NFT sector is for projects to include community benefits that go along with the ownership of their tokens. ReNFT is giving owners a way to monetize these benefits without selling the underlying asset.

How it works

Lenders can send the NFTs they want to rent out to a smart contract after determining the daily rental price and maximum rental period. Borrowers then input how long they want to “own” the NFT, paying for the rental cost plus a collateral amount equivalent to the price of the NFT, which they get back once the NFT is returned.

With the NFT sector still in bloom, reNFT sees the future of its lending protocol extending into the metaverse, where users could rent out their play-to-earn items, intellectual property, and even digital real estate.

It’s not entirely unheard of in cryptoland: Yield Guild Games also operates a rental program for in-game assets that yield financial returns, whether it be revenue-driving GameFi characters or plots of virtual land.

While reNFT currently works with the peer-to-peer renting of ERC-721 and ERC-1155 tokens on the Ethereum mainnet, it’s working on expanding compatibility to Solana and Polygon, co-founder Nick Vale told CoinDesk in an interview.

“ReNFT provides an alternative to speculative NFT trading by allowing owners of valuable digital assets to generate income over time,” Regan Bozman, partner of Lattice Capital, said in a statement. “This is a valuable new primitive in web3 and in particular within the fast-growing gamefi space.”

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