in-capital-markets,-dlt-is-moving-from-experimentation-to-commercialization

In Capital Markets, DLT Is Moving from Experimentation to Commercialization

 

According to a new report by the World Economic Forum in partnership with Boston Consulting Group (BCG), titled Digital Assets, Distributed Ledger Technology, and the Future of Capital Markets, financial institutions and technology providers are launching Distributed Ledger Technology (DLT)-based projects after years of experimentation.

The report—developed from eight global workshops and more than 100 interviews with executives from leading financial institutions, fintechs, regulators, and adjacent industries—illustrates that products enabled by DLT (i.e., immutable distributed databases like blockchain that ensure data is consistent, accurate, and up to date across participants), are becoming a reality across a range of asset classes and jurisdictions. However, total disintermediation and wholesale digital transformation remain far from being realized.

Market forces, supported by regulatory and technical developments, are pushing participants in capital markets to consider using DLT to enhance efficiencies, reduce operating costs, and create new business models. DLT is proving to be particularly well suited for:

  • Optimizing balance sheet management through faster and more efficient capital and liquidity deployments
  • Automating or eliminating manual processes such as data reconciliations
  • Removing non-value-adding counterparty risk and complexity

“Following several years of intense hype, examples of use cases where inefficiencies and challenges are being solved with blockchain are starting to emerge across capital markets,” said Matthew Blake, Head of the Future of Financial Services, World Economic Forum. “With the future for blockchain in financial services still being defined, a nuanced look at the opportunities this technology offers right now is particularly important for the financial services industry.”

While institutions are deciding where to invest across a range of strategic choices, their competing incentives and divergent visions of the future may be inhibiting the ability of DLT solutions to reach scale. Transforming markets at scale will require new collaborative ways of thinking and working across the industry, as well as a thoughtful digital product and ecosystem strategy. The report also finds that other market-wide headwinds will continue to inhibit DLT adoption, including the need to restructure business processes, challenges related to legacy systems, and ongoing regulatory and legal clarification needs.

The report breaks down the market opportunities and technical enablers across six asset classes and adjacent product lines—Equity Markets, Debt Markets, Securitized Products, Derivatives, Securities Financing, and Asset Management. It also assesses the potential benefits and challenges inhibiting wider adoption. In each asset class, specific trends are emerging.

“Distributed Ledger Technology has come of age as it begins to enhance efficiencies, reduce operating costs, and create new business models in capital markets, but the use cases and solutions are respective to each asset class,” said Kaj Burchardi, Managing Director, BCG Platinion. “Whilst this makes sense from a commercial perspective, it has led to a complex patchwork of initiatives. For capital markets to unilaterally adopt DLT, they will require cross-institutional alignment to realize the game-changing market opportunities it can offer.”

tencent-cloud-collaborates-with-the-university-of-edinburgh-in-research-and-education-through-its-industry-leading-cloud-offerings

Tencent Cloud Collaborates with the University of Edinburgh in Research and Education Through its Industry-Leading Cloud Offerings

 

Tencent Cloud today announced its signing of a Memorandum of Understanding (MoU) with the University of Edinburgh, a higher education provider in Scotland, with an aim to support the University’s research and education programs through cloud offerings and technical engagement, reinforcing the academic institution’s technological advancement in the research field and talent cultivation.

Poshu Yeung, Senior Vice President, Tencent Cloud International, said, “The signing of the MoU to support the University of Edinburgh in its technological development underlines Tencent Cloud’s commitment to the education segment. We look forward to providing the University with more resources for education purposes and to nurturing talents in the field, as well as boosting its tech and knowledge support. This initiative also demonstrates the company’s mission of ‘Value for Users, Tech for Good’, centered on the values of integrity, proactivity, collaboration and creativity.”

Dr Tiejun Ma, Programme Director of MSc in Advanced Technology for Financial Computing, University of Edinburgh, said, “The need for technological advancement and further development on digital skills and knowledge has significantly grown in the finance industry in recent years. The University of Edinburgh’s Business Informatics Cluster is privileged to be benefiting from the reliable and high-quality services of Tencent Cloud, which opens more doors and possibilities for us to provide better and more technologically advanced higher education services in Scotland.”

The MoU allows Tencent Cloud to collaborate with the University in its academic programs by way of technical support and provision of resources, such as:

  • Access to Tencent Cloud’s Suite of Offerings: Tencent Cloud shall give the University Tencent Cloud Credits to be utilized in its research and education initiatives.
  • Talent Development:
    • Tencent Cloud and the University will collaborate on both digital and classroom training to develop further cloud skills, allowing students to learn online at their own pace or through in-person classes. Tencent Cloud will help the University with training and enhancement of cloud skills and products, built by experts at Tencent Cloud and updated regularly to keep pace with the latest cloud services.
    • Tencent Cloud and the University agree on knowledge exchange between students and researchers with Tencent Cloud’s AI team to explore collaborations on research and development projects.

The University of Edinburgh’s Business Informatics Cluster and the Bayes Centre will launch a series of research and talent initiatives accelerated by Tencent Cloud. These research and talent initiatives will build on the capabilities of the University in technical fields such as Data Science & AI and Financial Technologies. Commencing in April, the University will launch a series of MSc-related projects using Tencent Cloud as part of the collaboration. These projects will focus on critical and practical appreciation of how data, computing and artificial intelligence technologies can be used and developed to deliver value in organizations with finance, risk and decision-making related digitalization from both technology and business perspectives.

Tencent Cloud’s agreement with the University of Edinburgh further emphasizes its commitment to the education sector, continuing its streak of related initiatives such as the signing of an MoU with National University of Singapore to nurture companies in the city-state through cloud solutions, technical support, expertise and training from Tencent Cloud, as well as its participation in the UNESCO Global Education Coalition and its collaboration with a Hong Kong education platform GRWTH to optimize and enhance online teaching efficacy.

Operating in 27 regions and 62 availability zones worldwide, Tencent Cloud is a secure, reliable and high-performance public cloud service provider with advanced infrastructure, with a wide range of market applicability and experience.

a-golden-opportunity:-how-to-win-a-lamborghini-in-2021

A Golden Opportunity: How to Win a Lamborghini in 2021

Reading Time: 2 minutes

 

Dreams do come true.

 

On April 24th, a FreeBitco.in user, out of over 42 million registered users, won a brand new Lamborghini, crypto’s favorite car.

And that wasn’t the first time. Since May 2019, FreeBitco.in, one of the world’s biggest Bitcoin gaming websites, has given away Lamborghinis to four lucky winners.

And they don’t intend to stop…

It’s Time for Round 5!

The Lamborghini Giveaway at FreeBitco.in is a Golden Ticket Contest where users have to collect Golden Tickets which are entered into a provably fair draw to pick the winner.

User 15324044 is the latest winner and they held over 882,251 Golden Tickets over the course of the contest. The lucky winner gets to choose between a Lamborghini or $200,000 in BTC credited directly to their FreeBitco.in account.

Over the last 2 years, FreeBitco.in has given away a total of $800,000 in BTC through four popular editions, and now they’re making it $1 million with Round 5.

And the best part? You can win a Lambo too!

How to Participate?

Win a Lambo Round 5 began as soon as Round 4 ended. Everyone can participate in Crypto’s Biggest Giveaway and stand a chance to win.

Follow these steps to join the contest:

  1. Create an account on FreeBitco.in.
  2. Collect Free BTC or deposit BTC into FreeBitco.in wallet.
  3. Play the HI-LO dice game, or bet on events.
  4. For every 0.005 BTC wagered in total on both the dice game or the event betting page, the user gets 1 Golden Ticket.
  5. Golden Tickets can also be bought for 0.00025 BTC each.
  6. Collect as many Golden Tickets as possible to increase the chances of winning a Lamborghini.
  7. After the contest ends, a provably fair lottery draw will be conducted to pick the lucky winner.

It’s that simple!

The contest ends on 23rd October, 2021. You have six months to collect as many tickets as you can. Who knows, you could be driving home a shiny Lamborghini come October!

paxos-raises-$300-million-in-series-d-funding-at-$2.4-billion-valuation

Paxos Raises $300 Million in Series D Funding at $2.4 Billion Valuation

 

Paxos, the first regulated blockchain infrastructure platform, today announced it has closed a $300 million Series D round of funding. Oak HC/FT led the round, with participation from previous investors Declaration PartnersPayPal VenturesMithril Capital, Senator Investment Group, Liberty City VenturesWestCap and more. To date, Paxos has raised more than $500 million in funding and with a valuation of $2.4 billion, Paxos is one of the fastest growing fintech startups in the world.

Charles Cascarilla, CEO and Co-Founder of Paxos, commented, “Demand for our enterprise solutions has accelerated much faster than we could have anticipated. It validates our approach to providing the most innovative and regulated enterprise solutions to replatform the financial system and create the digital economy of the future.”

Paxos will continue investing in the development of enterprise-grade infrastructure while deepening its commitment to regulation, reliability and security. The company will accelerate growth by hiring new team members across all functions, scaling its operations, increasing platform capacity and investing in innovation. Additional liquidity will also be added across the platform to enhance the customer experience and increase utilization of its tokens. To continue the development of its robust, regulated platform, Paxos also plans to establish the Paxos National Trust Bank, support its application for a Clearing Agency registration with the Securities and Exchange Commission and pursue its Major Payment Institution license in Singapore.

Patricia Kemp, Co-Founder and Managing Partner at Oak HC/FT, said, “Since securing the first Trust charter for digital assets in 2015, Paxos has distinguished itself as an innovator in fintech by embracing regulation. Its solutions are designed to ensure trust with enterprise clients while enabling exciting new business opportunities. Few companies are approaching digital assets with such a clear vision as to how blockchain technology can revolutionize the transfer and creation of value. We’re excited to support Paxos at this pivotal time in the evolution of the global financial system.”

Paxos has continued to differentiate itself as the most trusted operator in blockchain-based financial market infrastructure. Its focus on building enterprise-grade solutions in partnership with its clients has demonstrated results. In 2021, Paxos has achieved the following milestones:

  • Supported the launch of crypto buying and selling services on Venmo through its partnership with PayPal;
  • Received conditional approval for the first de novo Trust Bank charter for digital assets from the Office of the Comptroller of the Currency;
  • Completed same-day settlement of traded stocks for Instinet and Credit Suisse via the Paxos Settlement Service;
  • Grew total stablecoin assets across three of the leading US dollar-backed stablecoins to nearly $10 billion; and
  • Tokenized more than 100,000 oz of the highest quality investment-grade gold with PAX Gold.
allianceblock-partners-with-gbg,-closing-blockchain’s-kyc-gaps,-bringing-defi-and-institutional-finance-closer-again

AllianceBlock Partners With GBG, Closing Blockchain’s KYC Gaps, Bringing DeFi And Institutional Finance Closer Again

AllianceBlock, the first globally compliant decentralized capital market, and GBG, the global specialist in identity data intelligence, have today announced a strategic partnership aiming to close KYC/AML gaps in the DeFi industry, bringing DeFi and institutional finance even closer together.

The partnership will see GBG’s identity verification solutions integrated with AllianceBlock’s decentralized protocol. Following this, GBG will generate signed, anonymous, and reusable verification reports which AllianceBlock will store on chain. AllianceBlock will offer these reports to its clients and network participants through its Trustless KYC/AML and Identity Verification product, one of the eight products the firm is currently developing.

This will enable numerous new use cases including allowing crypto users to only undergo KYC once, and subsequently be able to prove their eligibility for sales and other activities without having to share personal information with multiple providers. It can also be used by traditional firms for non-crypto activities, offering a streamlined process that maintains full compliance with regulations.

Matthijs de Vries, CTO and Co-founder of AllianceBlock said, “A trustworthy KYC is not a ‘nice to have’ but a need to have. These processes play a vital role in tackling illegal activity and represent a critical cornerstone of good business. Further to this, compliance can be costly. Individuals have to go through the same KYC check for each institution, creating a larger data footprint which must be managed in a compliant manner with legislation like GDPR. The AllianceBlock Trustless KYC/AML and Identity Verification product aims to allow users to prove their identity in a trustless manner while letting them retain control of their data. It is envisioned that the product, which will now leverage GBG’s world class identity data intelligence software, will be used by both traditional legacy institutions and DeFi firms as a more efficient alternative to current KYC processes, offering an improved solution both business leaders and investors can trust.”

GBG provides fraud and compliance management, identity verification, and location data intelligence to over 20,000 customers worldwide. In September 2020, GBG was named KYC and AML leader by Chartis Research, recognizing its functionality, interconnectivity innovation, and clear strategy for sustainable, profitable growth, as well as its ability and commitment to tackling financial crime.

Boris Huard, EMEA Managing Director for GBG said “We’re delighted to partner with AllianceBlock to support its innovative use of our leading identity verification platform. AllianceBlock is a pioneer in offering their consumers the possibility of a reusable identity, improving access to services from multiple providers, and significantly reducing risks of fraud. As well as making online transactions safer, simpler and more secure, GBG solutions enable AllianceBlock to focus on its own business growth, as well as those of its customers.”

Rachid Ajaja, CEO and Co-founder of AllianceBlock said, “At AllianceBlock, we are focused on building reliable, compliant products TradFi and DeFi need in order to bridge the two worlds together. As we know, at present, the two still exist in silo to a large extent and we want to change that. This partnership with GBG, a company trusted by leading global companies, is a huge step forward for us in achieving this goal.”

The AllianceBlock team is made up of ex-JP Morgan, Barclays, BNP Paribas, and Goldman Sachs investment bankers, combined with serial entrepreneurs and global leaders in software development and blockchain. Since its inception, AllianceBlock has been making strides in the DeFi industry from all angles, having joined the London Stock Exchange Group’s Partner Platform, and announcing partnerships with Chainlink, Ocean Protocol, Injective Protocol, Orion Protocol, CertiK, and many more.

Matthijs de Vries, CTO and Co-founder and Rachid Ajaja, CEO and Co-founder of AllianceBlock, and Boris Huard, EMEA Managing Director of GBG, are available for interview.

the-liquid-crypto-exchange-selects-celsius-to-offer-crypto-yield-to-its-customers

The Liquid Crypto Exchange selects Celsius to offer crypto yield to its customers

 

Celsius, the industry-leading cryptocurrency rewards-earning platform, announces today its latest integration with cryptocurrency exchange Liquid to offer Liquid customers access to Celsius’s compounding yield on crypto, as well as fee-free purchases and transactions on the Liquid platform for Celsius’s native CEL token.

Liquid, one of the world’s largest fiat-cryptocurrency exchange platforms by trade volume, was the first exchange to support the CEL token in 2019. Celsius and Liquid have continued to grow their partnership to extend their combined offerings to bring the most value possible to the crypto community.

Through this integration, Liquid users can now reap the benefits of the Celsius earning model: rewards without lock-in, weekly pay outs, anytime asset transfers and withdrawals, and no minimum balance restrictions. With this structure, users can now trade  while they also  earn at industry-leading rates on top cryptocurrencies including BTC, ETH, XRP, LTC, BCH, LINK, XLM, SNX, UNI, CEL, DAI, DASH, USDT, USDC, and more. And importantly, users can trade and earn securely as Celsius safeguards its digital assets using a combination of cold wallets and multi-part computation (MPC) technology.

“This collaboration with our partners at Liquid is just another example of how Celsius puts its community and partners first with complete focus on the users’ needs and experience as we continue to grow,” says Alex Mashinksy, CEO of Celsius. “Partnerships like this and the many others that we forged have the ultimate goal of providing as many avenues as possible for our community to expand and seamlessly earn the highest yields in the industry on their crypto.”

“Partnering with Celsius since listing the CEL token in 2018 has been beneficial for both Liquid and Celsius,” says Marisa McKnigh, Head of Product at Liquid. “Liquid is excited to work more closely with Celsius’s strong community, and this partnership adds value to both Celsius and Liquid in providing users with a better experience via HODL-ing.”

msc-introduces-new-electronic-bill-of-lading-for-customers-worldwide-using-wave-bl’s-platform

MSC Introduces New Electronic Bill of Lading for Customers Worldwide Using WAVE BL’s Platform

 

MSC Mediterranean Shipping Company, a global leader in container shipping and logistics, is officially introducing the electronic bill of lading (eBL) for its customers around the world, following a successful pilot phase, using a solution on an independent blockchain platform WAVE BL. The eBL enables shippers and other key supply chain stakeholders to receive and transmit the bill of lading document electronically, without any change or disruption to day-to-day business operations.

WAVE BL is a blockchain-based system that uses distributed ledger technology to ensure that all parties involved in a cargo shipment booking can issue, transfer, endorse and manage documents through a secure, decentralised network. Users can issue all originals, negotiable or non-negotiable, and exchange them via a direct, encrypted, peer-to-peer transmission. It’s also possible for users to amend documents. WAVE BL’s communication protocol is approved by the International Group of Protection & Indemnity Clubs, and meets the highest industry standards for security and privacy.

“MSC has chosen WAVE BL because it is the only solution that mirrors the traditional paper-based process that the shipping and cargo transportation industry is used to,” says André Simha, Global Chief Digital & Information Officer at MSC. “It provides a digital alternative to all the possibilities available with traditional print documents, just much faster and more secure.”

The WAVE BL platform can be used free of charge throughout 2021 for exporters, importers and traders. Users only pay for issuing the original documents, and they do not need to invest in any IT infrastructure or make operational changes in order to use the service. They can simply sign up via MSC’s website: www.msc.com/eBL.

Longstanding advocacy for digitalisation in shipping

MSC has long recognised the importance of digitalisation across the shipping industry and has been one of the pioneers behind the industry’s digital transformation. As a founding member of the Digital Container Shipping Association (DCSA), MSC has participated in a number of initiatives focused on driving standardisation, digitalisation and interoperability in container shipping. André Simha is also the Chairman of DCSA.

Introducing an eBL solution is a critical step in the overall digitalisation of the industry. “Traditionally, the shipping industry has relied quite heavily on physical paper documents. And among these, the BL is the most important transport document in international trade,” states André Simha. “While there have been attempts to create an eBL solution in the past, we are now in a position to introduce a solution that can pave the way to mass eBL adoption, which will mean significant savings for the shipping industry.”

Saving the shipping industry billions

DCSA research indicates that by achieving just 50% eBL adoption by 2030, the industry could potentially save more than USD 4 billion per year. In addition to the significant cost savings, the eBL offers a wide range of benefits to shippers, including eliminating the ‘Document transportation’ factor from the supply chain. Shippers can instantly transfer original and negotiable electronic documents across borders. The solution enables faster document transfers, which in turn, leads to a shorter payment cycle. And electronic processes are far less susceptible to forgery, fraud, loss or human error.

As André Simha comments, “Eliminating paper from the shipping transaction will make every aspect of commercial container shipping better, faster, more effective, more secure and environmentally-friendly.”

Gadi Rushin, WAVE BL’s CEO and Co-founder, “Our goal from the very start has been to change the way the world trades by digitising document workflows while ensuring the highest legal, security and privacy standards. MSC is helping to create a new trade norm that will ultimately affect the rest of the market and save the trade industry billions of dollars.”

Helping countries severely impacted by COVID-19

While MSC has worked with WAVE BL on piloting its eBL solution since 2019, COVID-19 has created an even greater drive towards digitising the BL. “The global pandemic has restricted human and transport mobility in many places,” André Simha explains. “Countless containers have been stuck at various ports, terminals, depots and warehouses around the world because the receiver doesn’t have the original paper BL required to release these goods at their destination.”

Here the eBL addresses a very current need, enabling stakeholders to overcome border restrictions, interruptions in postal services and other pandemic-related disruptions. Shippers can also allow employees to work remotely by dematerialising the BL and other shipping documents.

Worldwide implementation

After running successful pilot projects in select countries since 2019, MSC is now introducing its digital solutions to all customers worldwide, paving the way for widespread eBL adoption. MSC is also exploring other eBL platforms to adapt to market demands.

“Now we’re introducing our eBL solution to our broad customer base to ensure that even more of our customers are able to benefit from the advantages of a digital BL solution. In a matter of a few years, we expect the eBL to become the new norm.” André Simha states.

diginex-to-attend-the-hc.-wainwright-cryptocurrency,-blockchain-&-fintech-conference-on-april-27,-2021

Diginex to Attend the H.C. Wainwright Cryptocurrency, Blockchain & FinTech Conference on April 27, 2021

Diginex Limited (Nasdaq: EQOS), a digital assets financial services company, announced today that it will participate in the H.C. Wainwright Cryptocurrency, Blockchain & FinTech Conference, which will be held virtually on Tuesday, April 27, 2021.

Diginex’s CEO, Richard Byworth, will be participating in the Crypto Trading: The Evolution of Finance and the Influence of Policy and Regulation Panel at 12:00 U.S. E.T. and will hold one-on-one meetings with institutional investors and analysts.

Interested parties can register and view the live webcast of the panel discussion at the following link.

To schedule a one-on-one meeting or receive additional information, please contact Diginex investor relations team at [email protected] or [email protected].

techx-signs-definitive-agreement-to-acquire-cryptobuddy-trading-signals-platform

TechX Signs Definitive Agreement to Acquire Cryptobuddy Trading Signals Platform

 

TechX Technologies Inc. (“TechX” or the “Company”) (CSE: TECX) (OTC: TECXF) (FRA: C0B1), a company focused in emerging technologies across growth sectors including: crypto, blockchain, AI and cloud technologies, is pleased to announce that it has signed a Definitive Agreement (the “Definitive Agreement“) to acquire 100% of the Cryptobuddy.ai predictive cryptocurrency trading signals platform, through its wholly-owned subsidiary, Bull Market Media Inc., in consideration of the issuance of 5,341,880 common shares in the capital of the Company (the “Shares“) at a deemed value of $0.936 per Share for total aggregate consideration of $5,000,000. The Shares shall be subject to a hold period of four months and one day from issuance.

CryptoBuddy is a crypto trading signals platform that allows traders to safely navigate cryptocurrency market conditions and cut through the market noise with artificial intelligence (“AI”) generated future price forecasts and trading signals.

CryptoBuddy Key Features:

  • Leverages big data to find machine-recognizable patterns that are impossible for humans to identify
  • Easy-to-navigate dashboard that simplifies complex data and presents it in a user friendly and easy to understand way
  • Predictive analytics – Different charts and graphics for easy visualization on trends, current price, historical price, and forecasts
  • 70-77% prediction rate accuracy
  • AI system ingests over 1 billion data points daily and analyzes over 1,000 features
  • Subscription model creates recurring revenue stream
  • Coins monitored – Bitcoin, Ethereum, EOS, Litecoin and Ripple

Following the acquisition, the Cryptobuddy platform will rebrand and operate under the name “Alt Signals” (altsignals.com). This rebranding strategy reflects the evolution of the Company and its vision of the future.

“We are beyond excited about acquiring the CryptoBuddy platform, an AI crypto trading platform that provides the most comprehensive AI-generated price forecasts and trade signals to retail investors,” said TechX CEO, Peter Green. “Retail investors are continuing to flock to bitcoin trading, meaning that secure, easy-to-navigate solutions with predictive, accurate analytics and predictions are essential. CryptoBuddy not only has the potential to provide crypto traders around the world with a competitive edge, it’s subscription model brings in a recurring revenue stream that will increase along with the market’s appetite for crypto.”

The Company also announces that it has engaged Lytham Partners, LLC (“Lytham”) for a month-to-month Investor Relations contract in connection with the Company’s ongoing effort to increase awareness. Lytham will provide outreach services to inform investors about developments in the Company’s business and affairs. Under the terms of this agreement, Lytham will receive $6500 USD / month.

umbria-token-fully-compatible-with-polygon’s-layer-2-chain

Umbria Token Fully Compatible with Polygon’s Layer 2 Chain

 

The Umbria governance token (UMBR) has been added to Polygon’s token mapper paving the way for key Umbria DeFi developments on Layer 2.

Umbria Network (https://umbria.network/) can now create a suite of applications on Polygon, which will be part of the Umbria ecosystem. Polygon – formerly Matic – provides scalable, secure and instant Ethereum transactions using their plasma proof of stake chain. Users of Umbria Network will be able to benefit from the fast, low-cost transactions (two second blocks with approximately 1c transaction fees) and heightened user experience that it affords.

Umbria will start developing its Decentralized Exchange’s (DEX) features on Polygon’s chain and can now fulfil bounty programs and airdrops and create farms and other DeFi products within a faster and cheaper environment.

“Token mapping of Umbria on Polygon PoS chain https://twitter.com/0xPolygon opens the door for our development on Layer 2 and a range of exciting opportunities for the Umbria protocol,” said Barney Chambers, co-lead developer at Umbria. “Polygon have been instrumental in helping drive the project forward and the next few months are going to be filled with exciting innovation.”

“We’re pleased to welcome Umbria’s ecosystem of DeFi products to Polygon, and we look forward to demystifying DeFi and making it accessible for the next wave of users in collaboration with Umbria,” said Arjun Kalsy, VP Growth – Polygon (previously Matic Network).