Author: CryptoCurrencyNews

TAIPEI, Sept. 18, 2024 /PRNewswire/ — Unitas Foundation announced today that the second phase of Unitas Protocol is now live on the mainnet. This phase introduced insurance providers (IPs) who will lend their USDT to the Unitas Protocol to support its over-collateralization. Concurrently, the 4REX tokenomics system has begun its operations, including auctions, profit sharing, and IP-related benefits.

“This milestone completed the first iteration of the Unitas stablecoin ecosystem— a  USDT-backed unitized stablecoin mechanism,” said Sun Huang, Co-founder and Chief Technology Officer of Unitas Foundation. “Now, anyone can ‘unitize’ USDT into one local currency unit, including USD91 (INR-pegged), USD971 (AED-pegged), USD84 (VND-pegged), and USD1 (USD-pegged) with the over-collateralization provided by IPs.”

The concept of reserving USDT as a store of value while dealing in the local unit of account is designed to address dollar shortages in emerging markets, improving both transactions and cross-border payments.

“We are thrilled to complete the USDT-reserved Unitas system,” said Wayne Huang, Co-Founder and Board Director of Unitas Foundation. “The real-world applications in developing countries will be the main focus of the next stage. Meanwhile, our team is building the second Unitas ecosystem which will be backed by Tether Gold (XAUt). The transition from USD to Gold represents an exciting development for the stablecoin movement, and we are pleased to collaborate with Tether, the world’s largest stablecoin issuer on this project.”

Unitas Foundation, Tether, and XREX Group, a blockchain-enabled financial institution, will work together to launch XAU1, a USD-pegged unitized stablecoin over-reserved with XAUt, providing customers with a stable alternative and a hedge against inflation.

Unitas Foundation will unveil more exciting details at the second edition of the Stablecoin Summit, held on 20 September at Andaz Singapore as a side event of TOKEN2049.

About Unitas Foundation

Unitas Foundation is a non-profit organization founded in 2022. Unitas Protocol operates exogenously over-reserved stablecoins pegged to emerging market currencies. These stablecoins unleash emerging market potentials by facilitating foreign investment, cross-border payment, global market access, DeFi participation, efficient USD liquidity, and more.

To learn more about Unitas Foundation, visit its official website, Wiki, Telegram, X (formerly known as Twitter), blog, or email team@unitas.foundation.

Disclaimer:

1. The press release is for informative purposes only. It does not solicit funds, constitute contractual offers or promises, or proffer any legal, investment, or tax advice. Please seek a licensed professional’s support to address your particular situation should you need any professional advice.
   
2. Unitized stablecoin is an experiment intended to be a decentralized financial tool. To avoid doubt, crypto assets and stablecoins involved within the Protocol are not insured or audited by any third party, licensed or endorsed by any regulatory authority. Thus, unitized stablecoin is subject to various risks, including but not limited to liquidity risk, cybersecurity risk, regulatory risk, transactional risk, and human error risk. Please do your own research before participating in the Protocol. You can find more information at unitas.foundation.

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View original content:https://www.prnewswire.co.uk/news-releases/unitas-protocol-launches-second-phase-on-mainnet-introducing-insurance-provider-and-4rex-token-302251560.html

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WARSAW, Poland, Sept. 16, 2024 /CNW/ — Flipster, a leading crypto derivatives trading platform, is excited to announce that it will co-host an exclusive party coinciding with TOKEN2049, with the industry-leading NFT project Pudgy Penguins, alongside Mocaverse.

The exclusive side event will be held at Zouk, one of Asia’s most renowned nightlife venues, on September 17, providing a relaxed environment for attendees to network. Attendees can look forward to exciting activities, including on-site games, lucky draws, a photo booth, Flipster and Pudgy Penguins swag, giveaways, and more.

Flipster is a silver sponsor of Token2049, Asia’s largest Web3 event, taking place in Singapore on September 18-19. With over 20,000 attendees expected, the event will serve as a key gathering for the global cryptocurrency and blockchain community.

About Pudgy Penguins

Pudgy Penguins is dedicated to making Web3 accessible to everyone by creating innovative products that enable seamless onboarding. Their focus on community empowerment and building brand awareness has made them the leading IP in the Web3 space while also disrupting the traditional IP sphere. They’re committed to impacting the everyday consumer and shaping the future of IP, Web3, and beyond. Visit pudgypenguins.com to learn more.

Instagram: @pudgypenguins
Twitter: @pudgypenguins
YouTube: @pudgypenguinsofficial 

Pudgy Penguins Media Contact
MGroup
press@mgroupsc.com

Sunshine Sachs Morgan & Lylis
pudgypenguins@ssmandl.com 

About Flipster

Flipster is among the fastest-growing crypto derivatives trading platforms, offering lightning-fast perpetual futures listings on the latest cryptocurrencies. The easy-to-use platform provides users with an all-in-one trading experience with leverage of up to 100x on over 250 tokens with high liquidity and zero trading fees. For media enquiries or interview requests with the team, please reach out to pr@flipster.io.

View original content to download multimedia:https://www.prnewswire.com/news-releases/flipster-partners-with-pudgy-penguins-to-host-exclusive-party-during-token2049-302249651.html

SOURCE Flipster

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• Projects will showcase across four Realms: Culture & Community, Decentralized Finance, Gaming and Etherlink at the iconic CHIJMES Hall. The event will be held at a restored early Gothic style 19th Century chapel that is now a national monument.
• Tezos Realm will be headlined by renowned DJ Agoria aka Sébastien Devaud , a longtime Tezos ecosystem member passionate about biological generative art whose work has been displayed at the likes of Musée d’Orsay.
• Visitors can experience interactive activities such as earning free tortilla chips and dips every time the Dips Dollar Cost Averaging (DDCA) simulation capitalizes on market dips at the Renora showcase, play OCV Lab’s emoji matching game and mint their score on the blockchain, get their Tezos Realm Proof of Attendance with the decentralized proof of identity  application YourD, and more.

SINGAPORE, Sept. 15, 2024 /CNW/ — The Tezos blockchain will be in the spotlight during TOKEN2049 week with Web3 ecosystem builder TZ APAC hosting Tezos Realm at the iconic CHIJMES Hall. Held on 18 September from 6.30pm onwards, the event will showcase 15 innovative projects building on Tezos, a pioneering Layer 1 Proof-of-Stake blockchain, and Etherlink, an EVM-compatible Layer 2 blockchain powered by Tezos Smart Rollups.

Tezos Realm will feature four dedicated ‘Realms’ designed to help visitors experience the real-world innovation coming out of the Tezos and Etherlink ecosystems.

In the Etherlink Realm, visitors will be able to participate in a hands-on demo of the Kredete app to understand how the platform helps African immigrants in the diaspora send money back home instantly with low fees, while also helping users build credit through the utilization of blockchain technology. Other showcases in the Etherlink Realm include UHT (a platform gamifying good healthy practices), Questflow (an orchestration layer of multi-agent economy that turns users’ intents into multi-agent actions), TaskOn (a Web3 Community Growth Platform) and YourD (a Web 3.0 RegTech infrastructure provider offering data management, login, and crypto payment solutions).

Gaming enthusiasts can look forward to interactive experiences at the Gaming Realm, such as minting their first NFT while playing BattleRise. Ladder Protocol (a decentralized AMM protocol that provides instant liquidity for a range of NFTs) will also showcase at the Gaming Realm.

Over at the DeFi Realm, Renora will run a simulation of how Dips Dollar Cost Averaging (DDCA) helps in capitalizing on market dips. Visitors can experience the exhilaration of market dips and enjoy chips with dips as they experience the DDCA simulation. Renora will showcase alongside up-and-coming DeFi applications SuperLend and Hanji.

Visitors will be treated to a variety of immersive experiences at the Culture & Community Realm, meeting the people behind the top decentralized applications (dApps) used by creatives such as Objkt, Tesserart, akaSwap and OnChainVision Labs. They will also get a fresh headshot and join the movement to empower women at the forefront of art, tech and culture at the World of Women (WoW) showcase.

At the heart of the space will be a Tezos X showcase that will take visitors through the vision for the future of Tezos.

Of the 15 projects showcasing, seven were a part of this year’s Fortify Labs by TZ APAC cohort that serves to empower projects building on Tezos and Etherlink to become market-ready and commercially successful Web3 companies. They include akaSwap, OnChainVision Labs, Renora, Questflow, TaskOn, YourD and Ladder.

Visitors’ journeys through the Realms can be likened to an in-person version of how Web3 questing and community rewards programs are done. Upon entry, visitors will receive a stamp rally card that they will take with them as they visit the showcases. An ink stamp will be made on the stamp rally cards for every interaction or “mission” a visitor makes with a project. With at least 5 stamps on the stamp rally card, visitors can unlock exclusive merchandise “airdrops” such as a Tezos Realm t-shirt and a Tezos travel gadget bag. This physical experience will then transition on chain after the event, where visitors can continue exploring the projects through Season 3 of TZ Apex, a Community Rewards Program by TZ APAC.

Season 3 of TZ Apex also functions as the platform for virtual visitors—those unable to attend the onsite event in Singapore—to experience the vibrancy of the Tezos ecosystem. Through online quests, virtual visitors will be able to interact with projects showcasing on Tezos Realm and earn rewards simultaneously.

Renowned artist and trailblazer in the Web3 digital art world DJ Agoria will headline Tezos Realm. He is a prominent figure in the international electronic music scene and has made waves by presenting works at Musée d’Orsay surrounding biological generative art, which refers to the creation of works using algorithms, artificial intelligence and data from the living world. His creative practice combines art, music, the Metaverse and science, with the aim of bringing the living world into the “blockchain”. Warming up the stage are two talented Singaporean DJs: Amanda Chuin, known for her uncanny ability to read the crowd and adjust the music to match the room’s energy, and KRSTN, who brings an eclectic mix ranging from afro beats to baile funk, and hip hop to downtempo.

David Tng, Managing Director at TZ APAC, said: “The objective of Tezos Realm is to celebrate the community and innovation that resides across the different verticals within the Tezos ecosystem. We would like to give all web3 or web3-curious attendees a glimpse of the real-world applications by developers, builders and participants in the Tezos and Etherlink ecosystems. Whether you are an artist new to Web3, a cryptography enthusiast, or an aspiring builder who is interested in Arts, DeFi or Gaming, there will be something compelling on display for everyone.”

Tezos Realm will be held at the iconic CHIJMES Hall, a restored early Gothic style 19th Century chapel that is now a national monument. The venue is accessible from the main TOKEN2049 conference venue through public transport and taxi. The event will be one of many Tezos ecosystem activities held during TOKEN2049 week, a full list of which can be accessed through this article.

Visitors can sign up for Tezos Realm on the official event Luma page, while members of the media can sign up through the media registration link.

About Tezos

Tezos is smart money, redefining what it means to hold and exchange value in a digitally connected world.  A self-upgradable and energy-efficient  Proof-of-Stake blockchain with a proven track record, Tezos seamlessly adopts tomorrow’s innovations without network disruptions today. For more information, please visitwww.tezos.com.

About Etherlink

Etherlink is an EVM-compatible Layer 2 blockchain powered by Tezos Smart Rollups. It’s permissionless, inherits Tezos Layer 1 security, and features a decentralized governance model, fraud proofs, and censorship resistance. It’s fast, fair and (nearly) free with extremely low transaction costs, and features MEV protection by design.

About TZ APAC

TZ APAC is a web3 ecosystem builder empowering founders, creators, developers and institution leaders to thrive. With dedicated teams across Asia, TZ APAC is hyper-local at heart with a mission to nurture the next generation of DeFi, Gaming and Culture & Community champions in the region. TZ APAC’s commitment to building a strong network of Web3 startups, grassroot communities and global organizations is accelerating Tezos as the blockchain of choice in Asia. TZ APAC is supported by the Tezos Foundation and is headquartered in Singapore.

View original content:https://www.prnewswire.com/news-releases/15-game-changing-projects-on-tezos-and-etherlink-will-showcase-at-tezos-realm-during-token2049-week-302248238.html

SOURCE TZ APAC

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The launch of Spot Ether ETFs marked a significant milestone in the cryptocurrency market. The first day of trading saw considerable volumes, indicating strong investor interest. These ETFs provide a new avenue for investors to gain exposure to Ether (ETH) without holding the cryptocurrency directly.

The most notable ETFs included offerings from major financial institutions. These ETFs aim to track the value of Ether, allowing investors to participate in the cryptocurrency’s performance through traditional brokerage accounts. The initial trading volumes were impressive, suggesting robust demand from both retail and institutional investors.

One of the driving factors behind the popularity of these ETFs is the regulatory approval they received, which adds a layer of legitimacy and security for investors. Regulatory bodies have been cautious about approving cryptocurrency-related financial products, but the green light for these ETFs signals a shift in their stance.

Another factor contributing to the high trading volumes is the increasing interest in cryptocurrencies as a hedge against inflation and a means of diversification. With traditional markets experiencing volatility, investors are looking for alternative assets to protect their portfolios. Ether, being the second-largest cryptocurrency by market capitalization, offers an attractive option.

It’s also worth noting that the launch of these ETFs coincided with a period of positive sentiment in the cryptocurrency market. Recent developments, such as upgrades to the Ethereum network and increased institutional adoption, have boosted investor confidence. This positive backdrop likely contributed to the strong first-day performance of the Spot Ether ETFs.

Looking ahead, the success of these ETFs could pave the way for more cryptocurrency-related financial products. Other cryptocurrencies, such as Bitcoin, already have similar ETFs, and the positive reception of Ether ETFs might encourage the launch of ETFs for other digital assets. This could further integrate cryptocurrencies into the mainstream financial system.

However, investors should remain cautious and conduct thorough research before investing in these ETFs. While they offer a convenient way to gain exposure to Ether, they are not without risks. The cryptocurrency market is known for its volatility, and prices can fluctuate significantly in a short period. Additionally, the regulatory environment is still evolving, and future changes could impact the performance of these ETFs.

In conclusion, the first day of trading for Spot Ether ETFs was a notable event in the cryptocurrency market. The strong trading volumes reflect growing interest and confidence in Ether as an investment. As the market continues to evolve, these ETFs could play a crucial role in bridging the gap between traditional finance and the burgeoning world of cryptocurrencies.

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Fold, a fintech company known for its innovative approach to integrating cryptocurrency into everyday transactions, is set to go public. The company has made headlines by leveraging Bitcoin as a central asset on its balance sheet, a move that sets it apart from other fintech firms.

In a bold move, Fold announced its intention to go public, highlighting its significant Bitcoin holdings as a unique selling point. The company believes that its Bitcoin reserves will not only provide a hedge against inflation but also attract a new wave of investors who are bullish on cryptocurrency.

The decision to go public comes at a time when the fintech industry is experiencing rapid growth and transformation. Fold’s CEO emphasized that the IPO would provide the necessary capital to expand their services and improve their technological infrastructure. The company aims to use the funds raised from the IPO to enhance its user experience, develop new products, and expand its market reach.

Fold’s Bitcoin strategy is part of a broader trend among fintech companies to incorporate digital currencies into their business models. By holding Bitcoin, Fold positions itself as a forward-thinking company that is prepared for the future of finance. This strategy has already started to pay off, as the value of Bitcoin has seen substantial increases, boosting Fold’s balance sheet significantly.

One of the key aspects of Fold’s business model is its rewards program, which allows users to earn Bitcoin through everyday purchases. This program has been a major driver of user engagement and growth, as more people seek to earn and hold Bitcoin without having to invest directly in the cryptocurrency market.

Fold’s IPO is expected to be a landmark event in the fintech and crypto industries. The company is confident that its innovative approach and strong market position will attract significant investor interest. As part of the IPO process, Fold plans to list its shares on the NASDAQ under the ticker symbol FOLD.

With the proceeds from the IPO, Fold plans to accelerate its growth strategy, focusing on three main areas: expanding its product offerings, scaling its operations, and increasing its market penetration. The company is particularly interested in exploring new markets where cryptocurrency adoption is on the rise.

The fintech sector has been abuzz with news of Fold’s IPO, with many experts predicting that it could set a new precedent for other fintech companies considering public offerings. Fold’s use of Bitcoin as a reserve asset is seen as a game-changer, potentially influencing how other companies approach their financial strategies.

As Fold prepares for its public debut, the company remains focused on its mission to make cryptocurrency accessible and useful for everyone. By going public, Fold hopes to further its vision of a future where digital currencies play a central role in the global financial system.

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