Aurelia Butler

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    in Cryptocurrency

    EOS Network Launches 250M EOS Staking Program

    Today July 8 EOS Network launches a 250M EOS staking rewards program as part of the network’s revamped tokenomics plan.Under the new staking rewards schedule, 85.6K EOS is distributed daily to Stakers. The revamped EOS staking program rewards early stakers for participating, with an initial APY of over 60% available. More than 31M EOS tokens are distributed per year to Stakers.The EOS Staking Rewards Program has other notable enhancements. The lock up period for staking has increased from four to 21 days. EOS Block Producers (BPs) will begin receiving network generated fees on top of their block reward income, further incentivizing infrastructure providers as network demand increases.The updated EOS staking program is designed to provide sustainable rewards for participants and support ecosystem growth. Participate in the 250M Staking program by visiting stake.eosnetwork.com. About EOSEOS is a public blockchain that prioritises high performance, flexibility, security, and developer freedom. The EOS Network focuses on usability across the ecosystem, enabling developers to implement and expand their ideas effectively.Learn more: https://eosnetwork.com/ContactChief Communications OfficerZack GallEOS Network [email protected] article was originally published on Chainwire More

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    in Economy

    FirstFT: Paramount’s new owner outlines vision for storied Hollywood studio

    Standard DigitalWeekend Print + Standard Digitalwasnow $75 per monthComplete digital access to quality FT journalism with expert analysis from industry leaders. Pay a year upfront and save 20%.What’s included Global news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts20 monthly gift articles to shareLex: FT’s flagship investment column15+ Premium newsletters by leading expertsFT Digital Edition: our digitised print editionWeekday Print EditionFT WeekendFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysisFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysisGlobal news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts10 monthly gift articles to shareGlobal news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts20 monthly gift articles to shareLex: FT’s flagship investment column15+ Premium newsletters by leading expertsFT Digital Edition: our digitised print editionEverything in PrintWeekday Print EditionFT WeekendFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysisPlusEverything in Premium DigitalEverything in Standard DigitalGlobal news & analysisExpert opinionSpecial featuresFirstFT newsletterVideos & PodcastsFT App on Android & iOSFT Edit app10 gift articles per monthExclusive FT analysisPremium newslettersFT Digital Edition10 additional gift articles per monthMake and share highlightsFT WorkspaceMarkets data widgetSubscription ManagerWorkflow integrationsOccasional readers go freeVolume discountFT Weekend Print deliveryPlusEverything in Standard DigitalFT Weekend Print deliveryPlusEverything in Premium Digital More

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    in Cryptocurrency

    Kwenta Receives Proposals to Integrate GMX and Gains Network into Perpetuals Marketplace

    In a step forward for the derivatives ecosystem on Arbitrum, two prominent DeFi projects, GMX and Gains Network, have unveiled bids to integrate their platforms into Kwenta’s upcoming perpetuals marketplace. Kwenta, the leading perpetual futures exchange on Optimism, expanded its reach earlier this year by launching the Base network, reflecting a larger plan to connect derivatives liquidity across multiple chains. This announcement follows the recent approval of a grant from the Arbitrum DAO aimed at supporting Kwenta’s initial expansion to the Arbitrum network.Product Offerings from GMX and Gains NetworkGMX and Gains Network have submitted their proposals to integrate their liquidity into Kwenta’s platform. These integrations aim to enhance the trading experience for Kwenta users by providing access to additional markets and liquidity, while taking advantage of Kwenta’s UX-focused roadmap, which includes allowing traders to log in with traditional web2 credentials and sponsoring gasless transactions.GMX v2, Arbitrum’s flagship perpetual futures AMM (Automated Market Maker), built on the initial success of their v1 product by being the first to integrate Chainlink Data Streams, a low latency product from the leading oracle provider aimed at high-performance applications. The lower fees and wider selection of markets available on GMX v2 allowed the offering to quickly grow in popularity with onchain traders.Gains Network, known for its gTrade platform, offers a wide variety of trading pairs, including cryptocurrencies, forex, and commodities, supported by their decentralized oracle network. Gains Network’s innovative approach to perpetual futures provides traders access to up to 150x leverage on a growing list of nearly 200 markets.Strengthening the Arbitrum EcosystemThe integration of GMX and Gains Network into Kwenta’s perpetuals marketplace is expected to drive growth in the onchain perpetuals space by allowing users to easily access advanced DeFi products from Kwenta’s easy-to-use UX layer. While retail-focused applications have made huge steps forward in allowing users to quickly access the best prices for token swaps and bridging, onchain leverage has remained a complex product for more sophisticated DeFi enthusiasts.This strategic expansion brings Arbitrum’s most popular derivatives trading venues under a single platform, providing a simple and familiar experience for traders new to onchain products. Kwenta’s roadmap promises to build on these quality of life features, allowing users to interact with multiple protocols in a single application.Looking AheadKwenta is currently inviting community feedback on these proposals as it moves towards finalizing its perpetuals marketplace. The potential integrations with GMX and Gains Network align with Kwenta’s mission to provide a superior decentralized trading experience. With these developments, Kwenta is aims to become a leading venue for DeFi derivatives trading on Arbitrum.About KwentaKwenta is an onchain derivatives marketplace on Optimism, Base, and Arbitrum. The platform offers easy-to-use tools to access deep liquidity and low fees onchain, while users retain full custody of their funds. With over $50 billion in trading volume through its community-governed platform, Kwenta is committed to developing tools that bring DeFi to everyone.For more details, users can follow Kwenta’s governance discussion channels on Discord.ContactMarketingDAO PMBurt [email protected] article was originally published on Chainwire More

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    in Economy

    OECD urges governments to cushion green shift for low-skilled workers

    Standard DigitalWeekend Print + Standard Digitalwasnow $75 per monthComplete digital access to quality FT journalism with expert analysis from industry leaders. Pay a year upfront and save 20%.What’s included Global news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts20 monthly gift articles to shareLex: FT’s flagship investment column15+ Premium newsletters by leading expertsFT Digital Edition: our digitised print editionWeekday Print EditionFT WeekendFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysisFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysisGlobal news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts10 monthly gift articles to shareGlobal news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts20 monthly gift articles to shareLex: FT’s flagship investment column15+ Premium newsletters by leading expertsFT Digital Edition: our digitised print editionEverything in PrintWeekday Print EditionFT WeekendFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysisPlusEverything in Premium DigitalEverything in Standard DigitalGlobal news & analysisExpert opinionSpecial featuresFirstFT newsletterVideos & PodcastsFT App on Android & iOSFT Edit app10 gift articles per monthExclusive FT analysisPremium newslettersFT Digital Edition10 additional gift articles per monthMake and share highlightsFT WorkspaceMarkets data widgetSubscription ManagerWorkflow integrationsOccasional readers go freeVolume discountFT Weekend Print deliveryPlusEverything in Standard DigitalFT Weekend Print deliveryPlusEverything in Premium Digital More

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    in Economy

    Singapore port congestion threatens to gum up global trade

    Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The risk of higher prices for everything from cars to smartphones for the world’s consumers just got a lot higher. Congestion at Singapore’s container port, which is at its worst since the pandemic, has started spilling over to neighbouring ports, posing a risk for global supply chains. Shipping rates have risen as much as fivefold over the past year and it is only a matter of time before some of that is passed on to shoppers. Singapore is the world’s largest transshipment hub: the container port connects more than 600 ports from 123 countries and has an annual capacity of 50mn 20ft equivalent units, a measure of volume. Things are getting serious when congestion from a hub of this size starts a domino effect for neighbouring ports.That rare phenomenon is playing out this week with container ship congestion spreading to neighbouring Malaysia.One explanation is that ships rerouting to avoid Red Sea attacks have led to bottlenecks in other Asian and European ports. Diversions have then meant more ships going through Singapore. Maersk, the world’s second-largest container carrier, for example, said it would skip two westbound sailings from China and South Korea this month owing to severe congestion. JPMorgan had estimated the Red Sea shipping crisis could add 0.7 percentage points to global core goods inflation for just the first half earlier this year.Now, another more unexpected problem could mean lasting disruptions to the global supply chain even when the Red Sea shipping crisis eases. The total volume of vessels, especially to and from China, has surged in recent months, and the annual peak shipping season has arrived earlier than expected. US President Joe Biden unveiled tariffs on a wide range of Chinese imports including chips, batteries, steel, medical products, electric cars and solar cells in May. Tariffs have also been proposed on other products such as ship-to-shore cranes. Companies have been rushing to secure inventory of these items before each of the tariffs go into effect later this year.Among those hit will be automakers, which unlike other manufacturers of smartphones or smaller electronics, cannot shift their shipments to airfreight. Singapore’s ports are not the only danger spot to watch. The biggest US ports union suspended labour talks last month and has instructed members to prepare for a possible strike starting in October, threatening to create a perfect storm for global supply chains. A backlog of a similar scale in Asia during the pandemic resulted in higher prices for all kinds of products. The longer the shipping congestion lasts in Singapore, the higher the risk of another inflationary jolt for the [email protected] More

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    in Cryptocurrency

    Bybit Heats Up Beach, Please Festival with Exclusive Onsite Upgrades and Early Access for 2025

    https://www.bybit.com/en/promo/global/BeachPleaseFestivalXBybitSpinandWinDraw

    Bybit, the world’s second-largest web3 platform by trading volume, is taking its partnership with Beach, Please! – Romania’s biggest hip-hop festival – by offering a range of exclusive perks for festival-goers, further connecting music fans with the exciting world of crypto.Building on the previously announced “Spin and Win” Lucky Draw offering General access passes, VIP and Ultra VIP tickets, Bybit is thrilled to announce:The Beach, Please! Festival takes place from July 10th to 14th, 2024, and boasts a star-studded lineup featuring Travis Scott (making his festival debut!), Wiz Khalifa, Anitta, and many more. Held on the stunning European beaches of Costinești, the festival promises an unforgettable summer blend of music, sunshine, and the exciting world of cryptocurrency.Users can join the Bybit Family and Get Potential Rewarded now:About Beach, Please!Beach, Please! is the biggest urban festival in Central and Eastern Europe, revolutionizing Romania’s festival scene since its debut in 2022 . It started with 30,000 participants and is expected to draw over 200,000 in 2024.Set in the iconic youth hotspot of Costinești, Beach, Please is Romania’s leading music and entertainment platform and one of the fastest-growing entertainment events. It is the premier festival for the new generation and the top choice for brands to connect with the new generation.For more details about Beach, Please! Festival, users can visit Beach, Please!’s official websiteFor updates, users can follow Beach, Please!’s InstagramFor any inquiries, users can contact: [email protected] BybitBybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 33 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle (NYSE:ORCL) Red Bull Racing team.For more details about Bybit, users can visit Bybit Press. For media inquiries, users can contact: [email protected] more information, users can visit: https://www.bybit.comFor updates, users can follow: Bybit’s Communities and Social MediaContactHead of PRTony [email protected] article was originally published on Chainwire More

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    in Economy

    Bank of Korea will consider trade-offs for monetary policy, governor says

    Governor Rhee Chang-yong said in his remarks at a parliamentary session that disinflation was expected to continue after recent positive signs, while noting a pick-up in household debt growth and heightened volatility in foreign exchange markets.The Bank of Korea is expected to keep its policy rate on hold at a 15-year high of 3.50% on Thursday and through the third quarter of 2024, before a 25-basis-point cut in the final quarter, around the same time as a likely start of policy easing by the U.S. Federal Reserve, according to a Reuters poll. More

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    in Economy

    Australia consumers gloomy on rates, tax relief yet to be felt

    The Westpac-Melbourne Institute index of consumer sentiment slipped 1.1% in July from June, when it rose 1.7%. The index reading of 82.7 showed pessimists far outnumbered optimists.”Sentiment remains stuck in the same deeply pessimistic range that has dominated for two years now,” said Westpac senior economist Matthew Hassan.”Fears of persistent inflation and further interest rate rises are again weighing more heavily on the consumer mood, offsetting any boost from the arrival of the tax cuts and other fiscal support measures.”Most workers will receive a cut in income taxes from this month, though the money has likely not shown up in pay packets yet. The Reserve Bank of Australia (RBA) held rates steady at its last policy meeting in June but warned of upside risks to inflation that could require further tightening.The survey found the proportion of respondents expecting higher mortgage rates in the next 12 months climbed to almost 60% from 48.3% in June.As a result the survey’s measures of family finances both dropped sharply, overwhelming a small improvement in the economic outlook.The index measuring whether it was a good time to buy major household items did bounce 3.1%, but remains historically low at 82.1. More