bitget-wallet-debuts-task2get,-a-web3-exploration-incentive-platform,-with-zetachain-interactive-campaign

Bitget Wallet Debuts Task2Get, a Web3 Exploration Incentive Platform, with ZetaChain Interactive Campaign

 

Following its brand upgrade from BitKeep Wallet, the world-leading all-in-one Web3 trading wallet Bitget Wallet has set its sights on improving overall user access to the decentralized finance (DeFi) ecosystem and discovering even better opportunities in the world of Web3. Its latest initiative, Task2Get, serves as a revolutionary Web3 exploration platform that provides users with attractive incentives for interacting with and completing a variety of different on-chain tasks.

Task2Get is primarily designed to fulfill two key functions: keeping users at the forefront of promising emerging projects; and rewarding users for interacting with them. This exciting initiative carefully curates and showcases the hottest projects to enter the Web3 ecosystem, providing a convenient avenue for users to interact with these projects, securing their spot for potential airdrops in the future. Additionally, the Task2Get platform also provides attractive rewards for users who complete set interaction tasks with featured projects, providing yet another incentive layer for users to earn while trying their hands on up-and-coming protocols and projects.

Kicking off the first phase of Task2Get, we are excited to collaborate with ZetaChain. This innovative EVM-Layer 1 blockchain connects all chains – even non-smart chains like Bitcoin network. ZetaChain is also known for its seamless connectivity across any blockchain and layer, supported by its Omnichain Smart Contracts. With a focus on facilitating interaction with the ZetaChain testnet ecosystem, Task2Get features 6 prominent DApps for users to interact with: XDAO, LENX, iZUMi Finance, Eddy Finance, Bounce Finance, and zkMe. Bitget Wallet users will stand a chance to win their share of 700,000 ZETA for completing interaction tasks, as well as exclusive Bitget Wallet x ZetaChain commemorative NFTs – which will provide holders with access to exciting periodic airdrops by Bitget Wallet.

One-Stop Airdrop Interaction Platform on Mobile

With the rise of numerous mainnets and projects in Web3, airdrop interaction has grown to become an increasingly popular way for users to explore emerging projects while also earning exciting rewards. However, the limited mobility of desktop computers is an obstacle that prevents users from capitalizing on these opportunities while on the go. Moreover, the overwhelming amount of information available may make it difficult for users to decide which project they wish to invest their time in. Identifying and tracking promising projects within such a context therefore requires not only high levels of experience and skill, but also significant investments in time and effort.

Task2Get was conceptualized specifically to solve these issues by serving as a one-stop airdrop interaction platform dedicated to mobile users. Featuring a clear and user-friendly interface that consolidates key DApps from various mainnets for the user’s perusal, Task2Get ensures that users have access to concise and step-by-step instructions to perform their on-chain interactions with unbeatable ease, directly from their mobile device.

Additionally, Task2Get also boasts a robust suite of interactive tools to further enhance overall user experience. Ranging from educational guides to shared experiences from Key Opinion Leaders (KOLs), users will be able to find a rich diversity of resources to assist them in enhancing their interaction levels. The platform also offers real-time query tools, enabling users to track their wallet interactions, including records, rankings, and gas consumption details. Placing user security as its top priority, Task2Get integrates a contract authorization detection feature that allows users to manage their authorization permissions and revoke any granted to potentially suspicious contracts to ensure the safety of their assets.

Recognizing that the process of interacting with airdrops can become tedious after a while, Task2Get introduces a refreshing element of surprise by rewarding users with random NFTs upon the completion of each task. These NFTs not only entitle users to potential future airdrops, but also allow them to track their interaction progress and rankings, encouraging users on their airdrop interaction journey. tion.

Seasoned Web3 veterans and newcomers alike will undoubtedly find their airdrops needs met with Task2Get, streamlining and bolstering their expedition into the frontiers of DeFi.

Holding Collaborative Ecosystem Incentive Events with Mainnets and Projects

In line with its vision of serving as the ultimate Web3 trading wallet, Bitget Wallet goes beyond just offering unmatched opportunities for users to capitalize on valuable trading opportunities via its integrated swap service. It also hosts various rewarding events for users to experience different mainnet ecosystems and enjoy rewards for doing so, providing a mutually beneficial way to grow the overall Web3 ecosystem.

Within the wallet, users are invited to engage in diverse incentive-driven activities, including ecosystem incentives for specific mainnets, project-based airdrops, Invite2Get invitation-earning schemes, and dynamic on-chain trading competitions. These activities are launched regularly, offering users a dual experience of earning substantial rewards and enjoying the vibrancy of Web3.

Bitget Wallet boasts an impressive track record of leading large-scale and exciting campaigns with industry-leading networks and projects, including Solana, Mantle, Galxe, and more. Participation methods are versatile, encompassing holding wallet positions, executing Swap transactions, utilizing DApps, and inviting friends, with rewards varying from native tokens and whitelists to NFTs. Statistically, Bitget Wallet distributes approximately $100,000 in monthly airdrop benefits to its users through these diverse activities.

With the introduction of Task2Get, Bitget Wallet aims to rally together with emerging market trends and projects, providing its users with unprecedented access to explore the broader Web3 on-chain ecosystem while earning exciting rewards at the same time.

Fostering Strong Connections Between Projects and Users

Since its inception in 2018, Bitget Wallet garnered the trust of over 12 million users worldwide, marking its position as one of the world’s top ten crypto wallets. Task2Get is set to capitalize on Bitget Wallet’s extensive user base and significant market impact to create a robust platform for growth and exposure, benefiting both emerging and established projects.

Currently, Bitget Wallet supports over 90 mainnets and offers comprehensive functions like wallets, swap tradings, real-time smart quotes, NFT marketplaces, and DApp interactions. This comprehensive support empowers mainnets and project teams, facilitating users to complete various tasks within the wallet ecosystem, thereby driving continuous participation and active engagement in ecological projects.

Task2Get is committed to the continued and extensive collaboration with industry-leading partners, bridging mainnets, ecosystem projects, and users. This initiative fosters user-project interactions, enhances project visibility, attracts active user participation, and partners with projects to deliver more benefits to users, aiding them in navigating the vibrant Web3 landscape.

blocksmith&co.-has-partnered-with-tencent-cloud-to-promote-web3-services

BLOCKSMITH&Co. Has Partnered with Tencent Cloud to Promote Web3 Services

 

BLOCKSMITH&Co. (Head office: Minato-ku, Tokyo; CEO: Tetsuya Sanada; hereinafter “BLOCKSMITH”) is pleased to announce that Tencent Cloud, the cloud business of Tencent, one of the world’s largest technology companies, has agreed to jointly promote efforts to expand the Web3 ecosystem, particularly in the development of services in the entertainment domain. By providing technical support such as SDK provision by Tencent Cloud and backing up BLOCKSMITH’s ongoing development and operation of the vertical short video quiz app “QAQA”, the two companies aim to make entertainment services using Web3 and blockchain technology more widespread among the general public.

BLOCKSMITH will utilise Tencent Cloud’s advanced technology to further improve the UX (user experience) of QAQA, a vertical short video quiz application.

First, the inclusion of Tencent Cloud’s User Generated Short Video (UGSV) SDK makes it easier for users to create and share their own quiz videos.

The adoption of the Tencent Cloud Video on Demand (VOD) solution will also enhance content generation and delivery on the QAQA platform. User-generated short videos will be efficiently managed and distributed through the VOD system.

These technological advances in the QAQA platform form the basis for a new trend in web3 entertainment services. With this innovative initiative, BLOCKSMITH and Tencent Cloud aim to provide a platform where users can be entertained and rewarded at the same time.

More info: https://www.blocksmithand.co.jp/en/news/135

bingx-partners-with-unisat-and-bolsters-spot-trading-ecosystem

BingX Partners with UniSat and Bolsters Spot Trading Ecosystem

 

BingX, a global leading crypto exchange, announced its collaboration with UniSat, marking its pioneering step as the top centralized exchange (CEX) to integrate BRC-20, the latest blockchain technology standard. This partnership is set to bolster the spot trading ecosystem of BingX and transform the way its users interact with digital assets, offering unparalleled efficiency and security.

UniSat Wallet, a Chrome plugin wallet for the BTC ecosystem, empowers users with services like token purchase and sale, NFT transactions, token minting, and BRC-20 token information queries. BRC-20, an experimental token standard facilitating fungible token minting and transfers via the Ordinals protocol on the Bitcoin blockchain, has gained prominence for its high utility. While most BRC-20 tokens are deployed through third-party tools, UniSat Wallet streamlines this process, offering a lightweight plugin expediting BRC-20 deployment and transactions.

This integration extends benefits to users, ensuring heightened security through BRC-20’s advanced protocols, creating a secure trading environment. It enhances efficiency by facilitating faster transaction speeds, reducing confirmation times, and elevating the overall user experience. BingX users also enjoy cost savings, thanks to BRC-20’s optimized network, making trading more accessible. The global accessibility of BRC-20 on BingX fosters inclusivity in the digital asset community.

“This integration is part of our continuous efforts to enhance our spot trading services and support the growth of the blockchain industry,” said Megan Nyvold, Head of Branding at BingX. “As the first CEX to support BRC-20, BingX is dedicated to offering our users a more timely, streamlined, and cost-effective way to conduct spot trading over a wider range of tokens and cryptocurrencies. We aim to leverage potentials of BRC-20 and position BingX at the forefront of technological advancements in crypto space.”

Previously, BingX stood out as the exchange of initial offerings for popular BRC-20 tokens, including ORDISATSRATS, and other coins like TIA and TKST, which experienced a remarkable price surge within the first hour. And BingX will support the Rune and ARC-20 protocols soon. Users can anticipate more unparalleled opportunities as BingX continues to lead in adapting and evolving with future innovations.

astar-partners-with-polygon-to-deploy-its-zkevm-testnet,-the-network’s-solution-for-interoperability

Astar partners with Polygon to deploy its zkEVM testnet, the network’s solution for interoperability

Astar Network, a leading blockchain platform on Polkadot creating a cross-chain smart contract environment to support enterprises and dApp builders, joins forces with Polygon to launch zKatana, the testnet for its layer-2 scaling solution.

Blockchain scalability presents the challenge of balancing decentralization, security, and transaction capacity within networks and protocols. This has led to the development of layer-1 and layer-2 scaling solutions, each tasked with different responsibilities and functions. Layer-1 solutions modify the base blockchain protocol to directly boost transaction throughput. In contrast, layer-2 solutions, such as state channels and sidechains, offload transactional work to auxiliary systems, reducing the load on the primary blockchain and boosting efficiency.

Astar’s introduction of zkEVM and its partnership with Polygon primarily focuses on layer-2 solutions, enhancing interoperability and scalability without compromising decentralization or security. Its deployment aims to ensure Ethereum state continuity while providing verifiable data, delivering a reliable blockchain solution tailored for global enterprises. As part of its Astar Supernova zkEVM launch, it effectively addresses scalability issues while enhancing security and privacy, facilitating trustless interoperability abilities. Its key attributes include:

  • Speed and Scalability: Through zero-knowledge technology, Astar zkEVM ensures seamless operational stability, even during high transaction volume periods.
  • High EVM Equivalency: Astar zkEVM is equivalent to Ethereum’s EVM, offering greater scalability when working with existing Ethereum tools and clients.
  • Security: Building upon Ethereum’s security mechanisms, Astar zkEVM establishes a robust and secure environment for executing smart contracts and processing transactions.
  • Interoperability: Trustless interoperability, making integrations with Ethereum-based applications and assets smoother than ever.
  • Cost Efficiency: Astar zkEVM significantly reduces transaction costs compared to Ethereum, delivering economic benefits for users and companies.

zkEVM deployment serves as an expansion strategy for the Astar ecosystem, enriching developer choices and reinforcing connections with leading Ethereum ventures. Astar’s collaboration with Polygon Labs and its zkRollup technology marks a pivotal achievement in promoting interoperability and unlocking a diverse spectrum of applications. It’s a key component of Astar 2.0, a transformative phase that expands its capabilities to support multiple chains and smart contract technologies, unlocking the full potential of Web3 applications.

Astar 2.0 showcases the project’s dedication to Web3 innovation and solidifies its position as a leading Polkadot parachain, marked by initiatives including the Supernova launch, a Japanese ecosystem expansion, and the Astar Tokenomics 2.0 upgrade.

As a pioneering parachain with a total value locked (TVL) exceeding $200 million, Astar has excelled through strong partnerships and a pilot program with major Japanese enterprises including Sony and Toyota. Its primary goal is to promote expansion and interoperability in the blockchain industry, providing developers and enterprises with greater options. By adopting zkRollup technology, Astar prioritizes security by enabling trustless interactions and safeguarding sensitive data, serving as a significant step forward for the entire blockchain sector.

“Astar is set to illuminate the path to an exciting future in the blockchain space,” affirms Sota Watanabe, CEO of Astar Network. “Our journey at Astar has been a remarkable evolution, driven by our unwavering commitment to advancing the blockchain landscape. As we transition to Astar 2.0, we are poised to unlock a new era of possibilities in the Web3 industry to global audiences.”

“Astar’s impressive journey to 2.0 signifies a pivotal moment that will ignite a phase of unprecedented growth,” says James Wo, founder of Digital Finance Group, or DFG, a global blockchain and digital asset investment firm, itself an early backer of Astar Network. “The prospects for Astar in Japan, the Asia-Pacific region, and on a global scale are exceptionally bright. We anticipate Astar’s ecosystem expanding, bringing the benefits of Web3 to millions of users.”

galaxy-announces-third-quarter-2023-financial-results-and-october-update

Galaxy Announces Third Quarter 2023 Financial Results and October Update

Galaxy Digital Holdings Ltd. (TSX: GLXY) (the “Company” or “GDH Ltd.”) today released financial results for the three and nine months ended September 30, 2023, for both itself and Galaxy Digital Holdings LP (the “Partnership” or “GDH LP”). In this press release, a reference to “Galaxy”, “we”, “our” and similar words refer to GDH Ltd., its subsidiaries and affiliates including GDH LP, or any one of them, as the context requires.

Preliminary Financial Highlights, through October 31, 20231

Since the end of the third quarter, digital asset prices materially changed and our business has benefited from heightened market volatility and increased trading volumes. Galaxy’s income before tax was approximately $124 million in the month of October, driven primarily by our market positioning and the appreciation of digital asset prices. Equity capital increased to approximately $1.6 billion over the same period.

Corporate Updates

US Listing and Reorganization: Galaxy continues to work on completing its proposed reorganization and domestication to become a Delaware-incorporated company and subsequently list on the Nasdaq, upon completion of ongoing SEC review and subject to stock exchange, shareholder and applicable regulatory approvals of such transactions.

Share Buyback Program: As announced on May 26, 2023, the Company commenced a new normal course issuer bid on May 31, 2023, and is eligible to purchase up to 10 million ordinary shares. For the period between July 1, 2023 and October 31, 2023, Galaxy repurchased approximately 1.2 million shares at an average price of CAD $4.69.

Select Financial Metrics

Q3 2023

Q2 2023

% Change

Equity Capital

$1,466M

$1,542M

(5 %)

Liquidity

$749M

$696M

8 %

Cash & Net Stablecoins3

$395M

$468M

(16 %)

Net Digital Assets4

$354M

$228M

56 %

Net Income (loss)

($94M)

($46M)

(104 %)

Note: Throughout this document, totals may not sum due to rounding. Quarter-over-quarter percentage change calculations are based on actual results.
(1) This preliminary, unaudited quarter-to-date financial information is as of October 31, 2023. Financial results include impacts of non-cash equity based compensation but exclude completion of the full quarterly valuation process of our investment portfolio. This data is subject to change as management completes its quarterly close procedures.
(2) As compared to the quarter ended June 30, 2023.
(3) Includes Cash Equivalents. 
(4) Refer to page 15 of this release for a breakout of our net digital assets position.

Galaxy Global Markets

Galaxy Global Markets (“GGM”) offers institutional-grade expertise and access to a broad range of digital asset products, including digital asset spot and derivatives trading, structured products, financing, as well as capital markets and M&A advisory services for corporate clients. GGM operates in two discrete business units – Trading and Investment Banking.

Trading

Trading reported counterparty trading revenue of $14 million, down $6 million quarter-over-quarter (“QoQ”). The decrease was primarily due to record low volatility and market positioning. Subsequent to quarter-end, our counterparty trading desk’s market positioning benefited from the favorable asset price movements and significant uptick in volatility and has generated $24 million of revenue in October. Despite the decline in revenue QoQ, counterparty trading volumes increased 70% versus the second quarter and our average loan book size expanded to $553 million.

Key Performance Indicators

Q3 2023

Q2 2023

% Change

Loan Book Size (Average)

$553M

$507M

9 %

Counterparty Loan Originations

$117M

$115M

2 %

Counterparty Trading Volumes QoQ Change

70 %

(29 %)

N.M.

Total Trading Counterparties

1,028

999

3 %

Active Trading Counterparties

284

291

(2 %)

Investment Banking

Investment Banking successfully closed two deals in the quarter, serving as advisor to Gamercraft on its latest investment round and serving as the exclusive financial advisor to Securitize in its acquisition of Onramp Invest, both of which we expect to realize as revenue at a later date. Notably, the team was also selected to represent Prime Trust in Nevada Receivership as part of an ongoing restructuring mandate. Galaxy continues to execute against a pipeline of mandates representing $2.2 billion in potential deal value.

Key Performance Indicators

Q3 2023

Q2 2023

% Change

Deals Closed

2

1

100 %

Pipeline

24

23

4 %

Deal Value of Pipeline

$2.2B

$1.0B

120 %

_____

KEY TERMS

Counterparty Trading Revenue: revenue from counterparty-facing activities from our Derivatives, Credit, Over-the-Counter Trading, and Quantitative Trading businesses, net of associated funding charges.

Loan Book Size (Average): average market value of all open loans, un-funded arrangements to finance delayed trading/settlement (for example over weekends), and uncommitted credit facilities in the quarter.

Counterparty Loan Originations: market values of all loans, credit facility draws, and credit facilities originated to external counterparties in the quarter. Does not include rolled loans as a new origination; rolled loans can be generally defined as loans where the maturity was extended but no other material terms were changed.

Active Trading Counterparties: counterparties with whom we have traded within the past 12 months and who are still onboarded with Galaxy’s trading business.

Pipeline: the number of open engagements and transactions the Investment Banking team is in market with.

Deal Value of Pipeline: the theoretical aggregate deal value associated with the Investment Banking pipeline.

Galaxy Asset Management 

Galaxy Asset Management (“GAM”) provides investors access to the digital asset ecosystem via a diverse suite of institutional-grade investment vehicles that span passive, active, and venture strategies.

GAM management and performance fees were $4.7 million in the quarter, representing an 11% increase QoQ. GAM reported preliminary assets under management of approximately $3.9 billion as of September 30, 2023, a 58% increase QoQ. The increase in AUM was primarily driven by net inflows from new actively managed client mandates that came in at the end of the quarter. AUM consisted of $768 million in passive strategies, $1,704 million in active strategies and $1,456 million in venture strategies.

Key Performance Indicators

Q3 2023

Q2 2023

% Change

Management and Performance Fees

$4.7M

$4.2M

11 %

Total AUM

$3,927M

$2,489M

58 %

     Passive AUM

$768M

$958M

(20 %)

     Active AUM

$1,704M

$103M

1,548 %

     Venture AUM

$1,456M

$1,428M

2 %

Number of Portfolio Company Investments1

223

217

3 %

(1) Includes investments held directly on the Partnerships’ balance sheet and indirectly through the Galaxy sponsored funds.

_____

KEY TERMS

Assets Under Management: all figures are unaudited.  AUM is inclusive of sub-advised funds, committed capital closed-end vehicles, seed investments by affiliates, affiliated and unaffiliated separately managed accounts, and fund of fund products. Changes in AUM are generally the result of performance, contributions, withdrawals, and acquisitions.

  • Preliminary AUM associated with GVH Multi-Strategy FOF LP is based on management’s most recent estimate.
  • AUM for committed capital closed-end vehicles that have completed their investment period is reported as NAV (Net Asset Value) plus unfunded commitment.
  • AUM for quarterly close vehicles is reported as of the most recent quarter available for the applicable period.
  • AUM for affiliated separately managed accounts is reported as NAV as of the most recently available estimate for the applicable period.

Passive Strategies: single- and multi-asset private funds, as well as a suite of regulated spot digital asset exchange-traded funds offered through partnerships with asset managers globally.

Active Strategies: Galaxy’s Liquid Alpha strategy and the management of certain bespoke mandates

Venture Strategies: organized around two investment themes: Interactive Ventures and Crypto Ventures. Galaxy Interactive is GAM’s sector-focused venture arm, managing client capital across three funds. GAM’s Crypto Ventures sleeve invests client capital across two global, multi-manager venture funds and manages a subset of Galaxy’s balance sheet venture investments.

Galaxy Digital Infrastructure Solutions

Galaxy Digital Infrastructure Solutions (“GDIS“) consists of proprietary and hosted bitcoin mining services, GK8 self-custody technology solutions, and validator services.

Mining

Mining revenue was $14.3 million in the quarter relative to power purchase agreement and external hosting expenses, net of curtailment credits, of ($2.2 million). We reached 3.9 exahash per second of hashrate under management across our proprietary and hosted footprint, as we continued to scale our Helios facility in West Texas. Our effective power management strategy led to a negative average marginal cost to mine in the quarter. We expect our average marginal cost to mine to increase in the fourth quarter relative to the third and second quarters in anticipation of fewer opportunities to economically curtail our mining operations and a higher network hashrate.

Key Performance Indicators

Q3 2023

Q2 2023

% Change

Mining Revenue

$14.3M

$15.4M

(7 %)

Proprietary Mining Revenue

$8.8M

$8.6M

3 %

Hosted and Other Mining Revenue1

$5.5M

$6.8M

(19 %)

Total Hashrate Under Management

3.9 EH/s

3.7 EH/s

7 %

Proprietary Mining Hashrate

1.8 EH/s

1.7 EH/s

10 %

Hosted Mining Hashrate

2.1 EH/s

2.0 EH/s

4 %

Number of Proprietary BTC Mined

309

307

1 %

Average Marginal Cost to Mine

< $0

$9K -$10K

N.M.

(1) Includes revenue from hosting clients, leasing agreements and other mining related activities.

Self-Custody and Validator Solutions

Self-Custody and Validator Solutions are focus areas in our continued commitment to the future of decentralized networks. This includes supporting the integrity of protocols and ecosystem projects by operating validator nodes to secure blockchains, and by offering self-custody technology solutions to institutions through GK8.

Key Performance Indicators

Q3 2023

Q2 2023

% Change

GK8 Total Client Count

16

15

7 %

_____

KEY TERMS

Hashrate Under Management: the total combined hashrate of active proprietary and hosted mining capacity managed by Galaxy.

Proprietary Mining Hashrate: the hashrate attributed to Galaxy owned and operated mining rigs.

Hosted Mining Hashrate: the hashrate attributed to third-party machines operated by Galaxy for a client.

Number of Proprietary BTC Mined: the total amount of bitcoin mined from proprietary mining operations.

Average Marginal Cost to Mine: the marginal cost of production for each bitcoin generated during the period. The calculation excludes depreciation, mark-to-market on power contracts, and corporate overhead.

GK8 Total Client Count: the total number of clients contracted to use GK8’s technology solutions.

GDH Ltd.’s Financial Highlights

As the only significant asset of GDH Ltd. is its minority interest in GDH LP, its results are driven by the results of GDH LP. GDH Ltd. accounts for its investment in this associate (GDH LP) using the equity method. The investment, initially recorded at cost, is increased or decreased to recognize GDH Ltd.’s share of the earnings and losses of GDH LP. During the three months ended September 30, 2023, an impairment assessment was required under International Financial Reporting Standards and GDH Ltd.’s minority interest in GDH LP was marked down based on the TSX quarter-end closing share price. An impairment expense of $44.9 million was recognized during the three months ended September 30, 2023. During the first and second quarters of 2023, the Company had recognized reversal of impairment of $128.1 million resulting in net impairment reversal of $83.2 million for the nine months ended September 30, 2023.

The net comprehensive income (loss) of GDH Ltd. was ($68.8 million) and $83.2 million for the three and nine months ended September 30, 2023, respectively.

Earnings Conference Call

An investor conference call will be held today, November 9, 2023, at 8:30 AM Eastern Time. A live webcast with the ability to ask questions will be available at: https://investor.galaxy.com/. The conference call can also be accessed by investors in the United States or Canada by dialing 1-844-746-0741, or 1-412-317-5107 (outside the U.S. and Canada). A replay of the webcast will be available and can be accessed in the same manner as the live webcast on the Company’s Investor Relations website. Through December 9, 2023, the recording will also be available by dialing 1-844-512-2921, or 1-412-317-6671 (outside the U.S. and Canada) and using the passcode: 10183468.

bybit-and-dmcc-crypto-centre-announce-top-ten-finalists-for-the-web3-unleashed:-crypto-innovation-challenge

Bybit and DMCC Crypto Centre Announce Top Ten Finalists for the Web3 Unleashed: Crypto Innovation Challenge

 

Bybit, in collaboration with the Dubai Multi Commodities Centre (DMCC) Crypto Centre, is proud to announce the top ten finalists for the hackathon: “Web3 Unleashed: Crypto Innovation Challenge.” This showcases innovative Web3 startups and aspiring businesses in the UAE, showcasing their contributions to the digital asset market.

From the 100 teams who applied, ten have been selected for their groundbreaking work across various sectors of the blockchain industry, including GameFi, decentralized finance (DeFi), NFTs, and sustainable blockchain solutions. These teams will present their entries at the event showcase on Nov. 22.

Team EVA.IO is pioneering a decentralized Supervised Machine Learning rating system for Crypto, DeFi, and NFTs, while Cyborg Network redefines cloud computing within the Polkadot Ecosystem. Copin empowers users to leverage insights from top on-chain traders, and Pravica pioneers peer-to-peer Web3 messaging and value transfer infrastructure.

Top Ledger introduces an enterprise-level blockchain analytics solution, as Edu3Labs merges education with blockchain for a more rewarding learning experience, and iTeller is a profitable fintech/crypto OTC business. Meanwhile, Timeswap breaks new ground with its fully decentralized lending and borrowing protocol.

Akka brings AI-powered efficiency to cross-chain asset movement, and DRIFE, dubbed “Taxi 3.0,” aims to overhaul the traditional ride-hailing industry. These ten teams stand to win from a prize pool of up to 100,000 USDT, including a cash prize equivalent to 50,000 USDT and additional prizes worth 50,000 USDT, such as access to Brinc’s accelerator, a complementary DMCC license, and a Hacken smart contract audit.

“The ‘Web3 Unleashed: Crypto Innovation Challenge’ is more than a competition; it’s a testament to the transformative power of collaboration in the era of blockchain technology,” said Ben Zhou, co-founder and CEO. “Fostering an environment where innovation thrives is one of our top priorities on our mission to become the world’s Crypto Ark.”

bitget-to-list-shrapnel-(shrap),-pioneering-gaming-and-crypto-convergence

Bitget To List Shrapnel (SHRAP), Pioneering Gaming and Crypto Convergence

 

Bitget, the world’s leading cryptocurrency exchange and web3 company, announces the listing of SHRAP, the native token of the groundbreaking blockchain-enabled first-person shooter (FPS) game, Shrapnel. Bitget stands among the first exchanges to onboard SHRAP and will commence trading of SHRAP on November 8th November 202310 AM (UTC).

Developed by an esteemed team of industry experts with BAFTA and Emmy accolades, Shrapnel spearheads the intersection of gaming and blockchain. It offers a comprehensive suite of player-creation tools that merge combat, creation, curation, and community into an ecosystem governed by its participants. With its listing, Bitget underscores its commitment to unlocking new frontiers in blockchain technology and gaming.

The SHRAP token, central to the Shrapnel platform’s economy, is an ERC-20 token initially minted on the Avalanche C-chain. It’s designed to provide utility and a medium of exchange within the Shrapnel environment. On April 29, 2023, three billion SHRAP tokens were generated, marking a pivotal moment for the platform.

Bitget’s decision to list SHRAP aligns with our unwavering commitment to embrace innovative projects that are poised to redefine our technological landscape,” said Gracy Chen, Managing Director of Bitget“By integrating SHRAP into our diverse spot market, we not only support a future where gaming and blockchain converge but also empower our users to shape that future.”

The inclusion of SHRAP is a testament to Bitget’s strategic expansion and its dedication to diversifying investment opportunities for its users. Over the past three quarters of 2023, Bitget has significantly enriched its spot market offerings with over 255 new listings, providing unparalleled access to some of the most sought-after and valuable digital assets in the industry.

Bitget is also dedicated to enhancing its Centralized Exchange (CEX) platform by incorporating progressive Decentralized Finance (DeFi) features. The exchange has integrated a Web3 Wallet and Swap service within its application and Bitget’s new Web3 feature, aspiring to bring together a range of services, including a non-custody wallet, swap, NFT marketplace, and dApp. This strategic move is designed to bridge the innovative offerings of DeFi with the reliability and ease of use found in Centralized Finance (CeFi), providing users with a seamless experience that leverages the strengths of both financial domains.

binance-launches-web3-wallet-to-make-web3-accessible-to-millions-of-users

Binance Launches Web3 Wallet to Make Web3 Accessible to Millions of Users

 

Binance, the global blockchain ecosystem behind the world’s largest cryptocurrency exchange by trading volume, is excited to announce the launch of its Web3 Wallet. The product, which was officially unveiled today during the company’s flagship Binance Blockchain Week conference in Istanbul, aims to meet the demand for a simple, convenient and secure way to experience the world of Web3. Millions of Binance users can now explore and experience Web3, without the risk of losing seed phrases or struggling with complicated onboarding processes.

Serving as a digital gateway to Web3, Binance’s Web3 Wallet is a self-custody crypto wallet built within the Binance app. With this latest launch, users now have access to a secure and streamlined method to swap thousands of tokens across various networks at great prices, explore a variety of decentralized applications (dApps), quickly transfer funds between exchange and wallet, earn yield on their crypto and more, all in one secure wallet.

“Web3 wallets represent more than just storing digital assets; they are an integral part of the Web3 framework, empowering individuals with the ability for self-sovereign finance,” says Changpeng Zhao (‘CZ’), CEO and Founder of Binance.

For most users, Web3 is complex. The Binance Web3 wallet is designed with user experience as the top and foremost priority, with the goal of making Web3 more accessible and easier for users to get started. Users, regardless of whether they are new to crypto or are already experienced traders, will find value in using Web3 Wallet. The main advantages of Web3 Wallet include:

Unparalleled Simplicity: Built directly into the Binance mobile application, users can create and activate their Web3 Wallet in seconds. The seamless integration means that users can access dApps and DeFi features directly within the Binance interface, without needing to juggle across platforms. The use of Multi-Party Computation (MPC), an advanced security technique, also removes the need for users to manage or memorize seed phrases without compromising on the benefits of security and self-custody.

All-In-One Convenience: Putting one’s idle crypto to work and earning interest on assets becomes much more accessible and seamless with the Web3 Wallet. There is a suite of innovative Earn and DeFi services within the Web3 Wallet to allow users to receive rewards from their digital assets. Binance’s Web3 Wallet is also the hub for users to explore various dApps, purchase cryptocurrencies through the Swap function at great prices thanks to deep liquidity and low slippage, and perform cross-chain trades across various networks at the tap of a button.

Robust Security: Protecting users and their assets is a key priority. With MPC technology, a user’s private keys are broken into three smaller parts known as key-shares. Having the key-shares split across three different locations mitigates the risk of the keys being compromised and reduces the vulnerability of the system. Two out of the three key-shares are controlled by users, which is intentional as Web3 Wallet is self-custodial. Funds held in the wallet are exclusively owned and accessible only by the user. Enhanced security features, such as wrong address protection and malicious contract detection, are also incorporated to notify users if a token or blockchain address carries a security risk at the time of the transaction.

CZ added, “Much as we believe Web3 will improve the freedom of money around the world, our industry must continue to build tools that onboard and protect users while also reducing friction for them. To help drive Web3 adoption, we have to identify and plug the gaps between centralized and decentralized systems. Binance’s Web3 Wallet lowers the barriers of entry for users to achieve full self-custody of their assets and it is an important, convenient bridge towards DeFi empowerment. Ultimately, our priority is to ensure users can explore Web3 with us within a user-friendly and protected environment.”

Richard Teng, Head of Regional Markets at Binance, also shared, “The overall aim when designing our Web3 Wallet is to help elevate the current user journey of experiencing Web3. We want our users to be assured that they are interacting with Web3 within a secure and protected ecosystem. That is why we have incorporated MPC technology as well as Binance’s trusted security infrastructure within the Web3 Wallet. The common stress of worrying about losing one’s seed phrase is removed, so that we can introduce a secure and smooth entry point for millions of users to safely and easily explore the Web3 universe.”

Binance Web3 Wallet is developed in partnership with the product and engineering team at Trust Wallet, and utilizes the same wallet technology layer services. Despite this coupling, Binance maintains autonomous control over Web3 Wallet’s features, operations, and services. To ensure a seamless experience with the newly launched Web3 Wallet, users are able to reach out to Binance’s 24/7 Customer Support to assist with any questions or help needed.

bitget-to-invest-in-indian-blockchain-startups-to-support-the-on-going-crypto-adoption-wave

Bitget to invest in Indian Blockchain Startups To Support the On-going Crypto Adoption Wave

 

Bitget, the leading cryptocurrency derivatives and copy trading platform, has announced its strategic plans of investing in blockchain startups based in India, under its Blockchain4Youth (B4Y) $10 million Web3-focused project. The initiative kicks off on 6th November and will conclude on 4th December, 2023 at BUIDL for Web3India’s premier multi-chain summit, organized by Lumos Labs and BuidlersTribe, powered by Bitget. Indian startups will get the opportunity to pitch to Bitget and top VCs within the space during the event as a part of the initiative.

With this program, Bitget aims to identify valuable and promising projects in the crypto space and provide them with comprehensive support, accelerating innovation in emerging technologies. Under the Blockchain4Youth project, Bitget has adopted a 360-degree approach as it plans to invest $10 million through the initiative over the next 5 years.

BUIDL for Web3, aims to gather thousands of developers and founders to battle against the odds. The month long program consists of shortlisting over 100 startups to begin. Amongst which, only the top ten startups will stand to share their pitches with Bitget and renowned VCs such as Sequoia Capital, Lightspeed Ventures, Draper Labs and more.

India’s resilience and constant advancements towards blockchain and crypto makes it the most wanted place to invest in Asia currently. The talent, the entrepreneurial spirit, it’s everything celebratory and we’re here to empower it. With our Blockchain4Youth, we look forward to accelerating the next big fours of cryptospace,” said Gracy Chen, Managing Director at Bitget.

Previously, through the B4Y Under 30 Virtual Hackathon, Bitget invested in Indian startups which made it to the winnings. This includes Grease Pencil – an AI based script writer, storyboard generator with frames and images for the entire script in seconds, HAIr – AI that helps via job description generation, extract essential keywords and details from both job descriptions and CVs, facial and audio analysis and data-driven candidate selection for HR and Derma360 – an AI enabled Dermatological app that makes analyzing skin conditions user-friendly and effortless.

The startup pitch program is open to all developers, entrepreneurs and founders based in India. The eligibility criteria to participate are as follows:-

  • The project should display a working minimal-viable product, with a real world use case.
  • Blockchain enthusiasts, developers and entrepreneurs are welcomed to showcase their products around DeFi, GameFi, Metaverse, NFTs, Tokenized ecosystems, Blockchain-AI solutions and more.
  • Projects should hold multiple layers of security functionalities and should be open for auditing

The rising interest of India’s youth into building blockchain based application bolsters the nation as one of the top hubs for development and talent. A recent study by Bitget Academy, Millennials and Gen Z representatives are the driving forces behind the development of a crypto’s future, with the former comprising 46% of crypto enthusiasts. With the launch of Bitget’s new initiative into the Indian market, the company aims to accelerate the on-going crypto adoption wave in the region .

“We have witnessed massive growth and retention within the crypto sector in India. The country has emerged as one of the global web3 leaders as it garners a rising interest in investments, from major web3 players worldwide. With the opportunity and exposure provided through Bitget’s program, Indian web3 startups have an exceptional opportunity to kickoff their journey and create sustainable web3 innovation.”, added Kaavya Prasad, Founder, Lumos Labs.

jd.com-enhances-authenticity-verification-services-for-imported-merchandise

JD.com Enhances Authenticity Verification Services for Imported Merchandise

 

JD Worldwide, JD.com’s cross-border e-commerce platform, announced today at the China International Import Expo the rollout of enhanced authentication processes, named “JD Smart Check,” for imported goods.

The “JD Smart Check” initiative focuses on three key areas: expediting quality inspections for cosmetics, incorporating blockchain technology for comprehensive anti-counterfeiting solutions, and providing on-demand authenticity inspections for products shipped via direct mail. These improvements reinforce JD Worldwide’s commitment to product integrity and customer trust and strengthen its position as the trusted gateway for global brands entering the Chinese market.

JD Worldwide has implemented cutting-edge X-ray fluorescence analysis, developed in partnership with the Cosmetics Technology Center of China Inspection and Quarantine Science Institute, for rapid on-site assessment of cosmetics and personal care products at JD’s logistic centers. This patented technology empowers JD’s team to conduct swift and efficient verifications within the company’s extensive warehouse network, generating authenticity verification reports in a matter of minutes.

Further bolstering its anti-counterfeit measures, JD Worldwide utilizes serialized tracking codes, supply chain monitoring, and product inspection videos for each item. This combination of detailed identification data and blockchain-powered traceability provides consumers with unparalleled transparency.

To cater to the needs of direct mail shoppers, JD Worldwide now extends its product inspection services to include reports from authoritative centers, underscoring JD.com’s robust capabilities in vetting product authenticity across all import business models.

With major procurement centers in JapanSouth Korea, and Europe, a growing global network of buyers, and an operation that spans over 1,600 warehouses, including nearly 90 bonded, direct mail, and overseas warehouses, JD.com is unwavering in its mission to bolster sales efficiency for brand partners. Reflecting this commitment, JD Worldwide witnessed a dramatic increase in activity during the initial phase of JD’s 2023 Singles’ Day Grand Promotion, with transaction volumes for over 700 brands surging by over 100%, and a tenfold increase in product offerings from global buyers’ stores.