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Apr 10, 2025 05:50

AAVE Token Price Skyrockets 13% After Successful Buyback Proposal Approval by Tokenholders

The Aave community recently approved a buyback proposal, with the majority of token holders voting in favor of the plan. This decision signifies a significant move within the decentralized finance (DeFi) space, showcasing the governance capabilities of the Aave protocol. The proposal, which aimed to repurchase $500,000 worth of AAVE tokens from the market, received [...]

The post AAVE Token Price Skyrockets 13% After Successful Buyback Proposal Approval by Tokenholders appeared first on Crypto Breaking News.

Apr 07, 2025 05:55

Refund Announcement: Conor McGregors Token Creators to Compensate Bidders for Unsuccessful Launch

The attempt to launch a token refund by former UFC champion Conor McGregor has failed. McGregor’s endeavor to issue a digital token refund for fans who purchased his cryptocurrency has encountered obstacles, leading to disappointment among his followers. The refund initiative was intended to compensate fans who invested in McGregor’s cryptocurrency, called the “McGregorCoin.” However, [...]

The post Refund Announcement: Conor McGregor’s Token Creators to Compensate Bidders for Unsuccessful Launch appeared first on Crypto Breaking News.

Apr 05, 2025 06:05

First Digital Successfully Recovers $26 Million After FDUSD Decoupling, Dismisses Sun Bankruptcy Allegations

First Digital redeems $26 million worth of FDUSD after stablecoin depeg First Digital, a leading blockchain-based platform, recently announced the redemption of $26 million worth of FDUSD stablecoins after the stablecoin depegged from its intended value. This move comes after weeks of uncertainty in the cryptocurrency market, with many stablecoins struggling to maintain their pegged [...]

The post First Digital Successfully Recovers $26 Million After FDUSD Decoupling, Dismisses Sun Bankruptcy Allegations appeared first on Crypto Breaking News.

Apr 04, 2025 06:05

Trumps SEC Chair Nominee Successfully Clears Committee Hurdles

Former SEC official Paul Atkins has been nominated by Donald Trump to serve on the board of the recently reshuffled Public Company Accounting Oversight Board (PCAOB). This nomination has sparked controversy and speculation as Atkins has a history of advocating for deregulation in the financial sector. Atkins has been a strong critic of the Dodd-Frank [...]

The post Trump’s SEC Chair Nominee Successfully Clears Committee Hurdles appeared first on Crypto Breaking News.

Apr 15, 2025 05:50

KiloEx Announces Successful Containment of $7.5M Exploit on Decentralized Exchange

On a recent incident, KiloEx fell victim to an exploit where an attacker utilized a price oracle to steal a staggering $7.5 million in funds. The attack involved manipulating the price oracle to deceive the protocol into releasing the funds to the attacker’s address. This breach highlights the importance of security measures in decentralized finance [...]

The post KiloEx Announces Successful Containment of $7.5M Exploit on Decentralized Exchange appeared first on Crypto Breaking News.

Mar 24, 2025 05:55

Saylor Teases Potential Bitcoin Purchase Following Successful Funding Round

Michael Saylor Teases Imminent Bitcoin Purchase Following Fundraising Efforts In recent developments, Michael Saylor, the CEO of MicroStrategy, has hinted at a forthcoming Bitcoin acquisition following the completion of a capital raise by the company. This potential move comes as no surprise, given MicroStrategy’s significant investment in Bitcoin over the past year. Saylor has been [...]

The post Saylor Teases Potential Bitcoin Purchase Following Successful Funding Round appeared first on Crypto Breaking News.

Mar 21, 2025 05:50

BlackRock: Boost Your Returns with Staking for a More Successful ETH ETF

The recent launch of the Ethereum Exchange-Traded Fund (ETF) has been regarded as a success, but experts suggest that it could be improved by incorporating staking. BlackRock, a prominent investment management firm, is seen as a potential key player in advocating for the inclusion of staking in this ETF. Staking is a process in which [...]

The post BlackRock: Boost Your Returns with Staking for a More Successful ETH ETF appeared first on Crypto Breaking News.

Mar 18, 2025 05:55

Solana Futures Shine in Successful First Trading Day on CME

On the inaugural day of trading Solana futures on the Chicago Mercantile Exchange (CME), the cryptocurrency made a solid impression. Investors and traders flocked to the platform to participate in the exciting new opportunity. Solana, known for its lightning-fast transaction speeds and low fees, has quickly gained popularity in the cryptocurrency space. Its listing on [...]

The post Solana Futures Shine in Successful First Trading Day on CME appeared first on Crypto Breaking News.

Perpetual DEX Palmswap successfully completed Fair Launch with over 6600 BNB raised

Author: noreply@blogger.com (Unknown)
United States
Oct 03, 2022 11:15

Perpetual DEX Palmswap successfully completed Fair Launch with over 6600 BNB raised

The decentralised perpetual contract trading protocol, Palmswap, held a community fair launch of its native token, PALM. One hundred million PALM tokens were up for sale between Sept. 20 and Sept. 29.

During this period, funds were collected in a pool, and an average token price was determined based on the aggregate amount. The good thing about the community fair launch is that every participant in the sale had the opportunity to buy the tokens at the same price, no matter the size of your investment or the duration of the funds kept in the pool.

In a space plagued with VCs getting in on the deals at a fraction of the price compared to other participants, Palmswap’s fair launch comes as a breath of fresh air.

This token launch comes after the PALM Alpha NFT whitelisting and Palmpad launch earlier this month. The PALM token is the first token to be sold on Palmpad. Right after the successful token launch, early next month, the Palmswap team will release its Alpha mainnet, where NFT holders will be able to trade with real funds.

The perpetual trading platform will be made available to the public the following month, in November, when Palmswap mainnet will be released along with a retroactive rewards program.

Multi-Purpose Token

PALM tokens are at the core of the Palmswap system, which is centred around its decentralised exchange, Palmpad, an affiliate program, and earn products.

Owning PALM tokens will give you early access to new projects that will be launched on Palm Launchpad. In addition, Palmswap users will be able to stake their tokens, participate in the Palmpad sales, invite other participants, and then benefit from their purchases.

As part of the affiliate program, users will be able to invite other traders and earn a share from their paid trading fees. Meanwhile, invited users will get the benefit of discounted trading fees.

All these benefits have already attracted thousands of traders to Palmswap testnet, resulting in the DEX recording $400 million in trading volume and over 500k in transactions.

Besides offering tons of utility, PALM is also the governance token of the decentralised perpetual protocol. As a governance token, it will allow holders to vote on decisions such as which trading pairs should be listed next. This will make the protocol more decentralised by distributing power and influence among members rather than concentrating it among a handful of people, like in traditional organisations.

In addition to building a robust ecosystem around governance, rewards, and staking, Palmswap has implemented a burning mechanism under which the supply of the PALM token will be burned from a part of the trading fees.  Over time, as Palmswap gains traction, more PALM tokens will be burned, which will help the token increase in value long-term. On top of that, the team further plans to introduce other deflationary mechanisms in the future.

Awarded the “Most Innovative DeFi Startup 2022”

Ahead of its fair launch last week, the project received Gulf Business’s “Most Innovative DeFi Startup 2022” award.

The Dubai, UAE-based Gulf Business is a weekly magazine that held the ceremony on September 23, 2022, at Social Distrikt, The Pointe. The event recognized a total of 15 winners for their achievements and innovation in the field of DeFi, GameFi, NFT, Fintech, and other sectors of Web3.

The first edition of the Web3 Awards 2022 celebrated the most influential leaders, companies, and startups of the region’s Web3 ecosystem. More than 100 organisations and key decision makers from the blockchain space participated in the event.

BSC-based DEX with 50x Leverage

Based on the Binance Smart Chain (BSC), Palmswap is building an ecosystem of DeFi products designed to fill a gap in the existing market and address real problems in the sector.

Since 2020, the decentralised finance (DeFi) sector has been gaining tremendous traction. More specifically, DEXs have been leading this growth, with the likes of Uniswap, Sushi, and dYdX offering the opportunity to leverage the benefits of decentralised trading platforms.

However, in the current crypto regulatory landscape, which has also started to affect the DeFi space, Palmswap offers a secure option with no need for registration or KYC. Through its unique proprietary technology, the DEX ensures traders enjoy guaranteed and highest liquidity for instant trading and low slippage.

The perpetual DEX is the first of its kind, built 100% on-chain but with an affiliate program and a variety of tools supported, much like on centralised exchanges.

By giving users complete control over their funds and an opportunity to earn rewards, Palmswap basically provides a decentralised alternative to perpetual future exchanges like Bybit, FTX, Binance, Bitmex, and others.

Incubated by TDeFi, the project is led by Crypto Oasis and heavily backed by influencers, including Davincij15, Themooncarl, Crypto zombie, Bolsa para principantes, AMcrypto, BTC moneymaker, Vyron, MDX crypto, Samy loyal – Forflies, and Cryptojack.

A Highly-efficient DEX

The platform aims to eliminate some of the biggest challenges in the DEX space, including high slippage, high costs, and inadequate tool support.

Most DEXs, as we know, use an automated market mechanism (AMM) for price discovery instead of “order books” like in centralised exchanges (CEXs). These autonomous trading mechanisms remove the need for intermediates, allowing trades to be initiated directly between involved parties.

AMMs are “liquidity pools” that facilitate trades where investors lock funds in exchange for rewards. However, this liquidity is lacking from small-cap altcoins, making it difficult to execute trades without significant slippage. To counteract this, Palmswap has introduced a proprietary pricing model, dynamic vAMM (dvamm), that recalibrates the liquidity of a trading pool based on demand, hence, providing better capital efficiency and lower slippage.

As for cost-efficiency, Palmswap has chosen BSC instead of Ethereum, which struggles with scalability, congestion, slow transaction processing, and high fees. BSC allows Palmswap to offer a cost-effective legacy alternative and further optimise the on-chain trading experience.

One of the issues with existing DEXs is the absence of tools like order types, an essential element in perpetual trading. As a decentralised perpetual trading platform, Plamswap will offer multiple on-chain order types, including limit orders, stop loss, conditional orders, trailing stops, and take profit. In addition, a plethora of options will make the DEX more user-friendly for both individual and institutional traders.

Moreover, Palmswap offers its users the ability to trade up to 50x leverage on long and short positions on their favourite cryptos.

The post Perpetual DEX Palmswap successfully completed Fair Launch with over 6600 BNB raised appeared first on Invezz.



from Cryptocurrency – Invezz

Jan 21, 2022 01:30

Porta Network Successfully Launches Relay Chain TestnetSponsored

Porta is a Substrate-based, Nominated Proof-Of-Stake blockchain network has successfully launched its Relay Chain testnet. This is a penultimate step for the project ahead of its mainnet launch in Q1 2022. What is the Relay Chain Testnet? The Substrate framework offers a relay chain and parachain architecture that separates the authoring and finalisation process. Effectively […]

Jan 04, 2022 01:35

Jamaican Central Bank Says It Has ‘Successfully Completed CBDC Pilot’ – Fintech Bitcoin News

The Jamaican central bank successfully completed the pilot testing of its central bank digital currency, a statement from the bank has said. The statement however reveals that only one payment service provider participated in the pilot. Only One Payment Provider Participated in the Pilot The Bank of Jamaica (BOJ) recently revealed that it had successfully […]

Feb 25, 2025 05:50

South Dakota legislators successfully block Bitcoin bill proposal

The South Dakota Bitcoin Reserve Bill has been postponed for further review and discussion. This bill, which aims to create a reserve for the cryptocurrency Bitcoin, has sparked debate and interest within the state’s legislative body. Supporters of the bill argue that establishing a Bitcoin reserve would provide a hedge against inflation and economic uncertainty. [...]

The post South Dakota legislators successfully block Bitcoin bill proposal appeared first on Crypto Breaking News.

Feb 18, 2025 05:50

Argentine President Javier Milei refutes involvement in promoting unsuccessful LIBRA memecoin

Argentina’s President, Javier Milei, has refuted claims of promoting the Libra token. In a recent statement, Milei clarified that he is not associated with any promotions or endorsements related to the controversial cryptocurrency. The President’s denial comes after rumors surfaced that he was actively supporting Libra and encouraging its adoption in Argentina. However, Milei has [...]

The post Argentine President Javier Milei refutes involvement in promoting unsuccessful LIBRA memecoin appeared first on Crypto Breaking News.

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