Aurelia Butler

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    Instant view: BoE keeps rates on hold but policymakers more divided

    Three of the BoE’s nine-person Monetary Policy Committee voted for a quarter-point rate cut instead, much higher than the one member economists polled by Reuters had expected.But BoE Governor Andrew Bailey said the central bank needed to stick to its existing “gradual approach” to cutting rates. MARKET REACTION:STOCKS: London’s FTSE-100 stock index cut its losses following the decision and was down around 1.1% by 1215 GMT. The domestically focussed FTSE-250 moved similarly.FOREX: Sterling dipped against the dollar and was last up 0.2% at $1.26080, from $1.2628 before the decision.BONDS AND MONEY MARKETS: Rates-sensitive two-year gilt yields were down less than a basis point at 4.46% while traders continued to expect two more BoE rate cuts next year.COMMENTS: CHRIS SCICLUNA, HEAD OF ECONOMIC RESEARCH, DAIWA CAPITAL MARKETS, LONDON:”There is a very decent case for a rate cut and the market pricing has become more hawkish. It looks like markets were too influenced by events in the U.S. economy and you can see that by what’s happened in U.S. and UK bond yields in the last three weeks.””The UK economy is behaving far more like the euro zone economy than the U.S. one. The UK economy is flatlining and that suggests the monetary policy stance is too tight.””There was a case for a rate cut today and there is a case for several cuts next year.” “I expect a cut in Feb when the BoE updates its projections.”NEIL BIRRELL, CHIEF INVESTMENT OFFICER, PREMIER MITON INVESTORS, LONDON:”As expected, the Bank of England left the base rate unchanged. Clearly the spectre of inflation is its major concern rather than a stagnating economy.” “Ongoing poor news out of the all-important consumer sector is a concern, but that has been parked until the new year, when we will have heard from the major retailers on the Christmas period. It’s difficult to get enthused about the outlook for the economy at the moment and the path for interest rate cuts isn’t helping.” More

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    in Economy

    Swedish central bank cuts policy rate, cautious on easing in 2025

    STOCKHOLM (Reuters) -Sweden’s central bank cut its key interest rate by quarter of a percentage point to 2.50% as expected on Thursday, but said that after easing policy five times this year, it saw reasons to be more cautious as it enters 2025.The Swedish economy has been treading water for the past two years after the Riksbank jacked up rates to fight surging inflation – which peaked at around 10% in late 2022.The central bank started cutting rates again in May and inflation is now below its 2% target. But while households and businesses remain wary about spending, inflation has edged up again in recent months.”If the outlook for inflation and economic activity remains unchanged, the policy rate may be cut once again during the first half of 2025,” the Riksbank said in a statement.”The interest rate has been reduced rapidly and monetary policy affects the economy with a lag. This argues for a more tentative approach when monetary policy is formulated going forward.”Governor Erik Thedeen said the outlook for rates was broadly the same as the central bank had indicated before it made a larger-than-usual half-percentage-point cut last month.”We are signalling the same cuts as we did in September and November, or if anything slightly more,” Thedeen told reporters.”We speeded up the cuts at the end of this year and now it’s reasonable to wait to see their effects.”The Swedish crown strengthened after the announcement.”We now expect just one more 25 basis point cut next year, in March, as we think the economy will start to pick up soon, dissuading policymakers from too much more policy loosening,” Adrian Prettejohn, Europe Economist at Capital Economics said.Analysts in a Reuters poll had been unanimous in seeing a quarter-point cut. They forecast two more cuts in the first half of next year with the policy rate stabilizing at 2.00%.Norway’s central bank kept its key rate on hold on Thursday.The Bank of England will announce its policy decision later in the day. More

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    in Cryptocurrency

    Powell says Fed cannot hold bitcoin, not seeking to change that

    NEW YORK (Reuters) -Federal Reserve Chair Jerome Powell said on Wednesday the U.S. central bank has no desire to be involved in any government effort to stockpile large amounts of bitcoin. “We’re not allowed to own bitcoin,” Powell said at a press conference following the Fed’s latest two-day policy meeting, in which policymakers cut rates as expected while signaling a less certain path for monetary policy in the months ahead. In terms of the legal issues around holding bitcoin, “that’s the kind of thing for Congress to consider, but we are not looking for a law change at the Fed,” Powell said. The Fed chief was addressing the prospect of central bank involvement in the idea of the government building a so-called Strategic Bitcoin Reserve once President-elect Donald Trump takes office.Powell’s comments on Wednesday dented the value of bitcoin, which has rallied sharply along with other crypto assets since Trump’s victory in the Nov. 5 election on the prospect of a more hands-off government approach to a class of assets that rarely functions as actual money, but is instead largely used as a vehicle for speculation.Trump has suggested he will create a U.S. bitcoin strategic reserve – a concept that has also been widely rejected in Europe.The incoming president has not provided details on what such a reserve would entail, beyond saying its initial holdings could include bitcoin seized from criminals, a stockpile of about 200,000 tokens worth about $21 billion at current prices.Bitcoin has more than doubled this year to more than $100,000 on optimism over Trump’s pro-crypto stance. The asset has proven volatile in its 15 years of existence, which analysts say reduces its utility as a store of value or a unit of exchange, key attributes of a reserve currency.Republican Senator Cynthia Lummis has introduced a bill to create such a reserve, under which the U.S. Treasury would buy 200,000 bitcoins annually until the stockpile reaches one million tokens. The purchases would be funded by Fed bank deposits and gold holdings.Funding a strategic bitcoin reserve would likely require the approval of Congress and the issuance of new Treasury debt, according to an analysis published this week by Barclays (LON:BARC). Given the likely ways such a reserve could be created, “we suspect such a plan would face stiff resistance from the Fed,” Barclays analysts said.EUROPE AGAINST BITCOIN RESERVES More broadly, Fed officials have been skeptical of securities such as bitcoin as they have also backed away from their own efforts to create a fully digital dollar in favor of allowing the private sector to innovate payments technologies.The Fed’s main role regarding cryptocurrencies appears to center on how those assets might affect consumer and banking sector safety.”We regulate and supervise banks and we would want the interaction between the crypto business and the banks … not to threaten the health and well-being of the banks,” Powell said on Dec. 4. But he also noted at that time that when it comes to crypto assets, “we don’t regulate it directly.”The European Central Bank’s chief bank supervisor, Claudia Buch, on Tuesday also flagged up risks in the crypto market, including “excessive leverage, intransparency (and) conflict of interest”, adding she was keeping a close eye on banks’ exposure to that type of assets.Trump plans to appoint former PayPal (NASDAQ:PYPL) executive David Sacks to the newly-created position of White House AI and Crypto Czar, and pro-crypto consultant Paul Atkins to lead the Securities and Exchange Commission.In Europe, a series of central bankers this week dismissed any suggestion of bitcoin becoming a reserve asset.Belgium’s central bank governor Pierre Wunsch saw little “appetite for having reserves in bitcoins” in an interview on Wednesday. Outside the euro zone, Hungary’s governor-designate Mihaly Varga said on Monday cryptocurrencies were just too volatile.”We are following the discussion, especially in the U.S. post-elections, closely,” ECB policymaker Olli Rehn said on Tuesday. “But our view has not changed. Cryptos are assets, but they are not currency,” the Finnish central bank governor added. More

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    in Cryptocurrency

    Mantle Network Advances Technical Roadmap As The First ZK Validity Rollup with Succinct’s SP1

    Succinct alliance establishes Mantle Network as highest-TVL ZK validity rollupMantle Network, an Ethereum layer 2 (L2) known for its modular design and being the first adopter of EigenLayer’s EigenDA, today announced its architectural transition to a zero-knowledge (ZK) validity rollup through an industry-first alliance with Succinct. Combining its modular architecture, data availability solutions through EigenDA, and now zero-knowledge proofs via SP1, Mantle Network embarks on creating the liquidity chain for institutional-grade settlement and value transfer in the crypto ecosystem. Since Mantle Network’s mainnet launch on July 7, 2023, the burgeoning on-chain ecosystem has grown to become a top 5 L2 by total value locked (TVL) with $2.2 billion and counting. The network has processed 175 million on-chain transactions, seen 1.4 million smart contracts deployed, connected to 10 million unique wallet addresses and maintained 4.9 million monthly active wallet addresses since its inception. Mantle Network continues to drive capital efficiency in the on-chain economy with the integration of ZK validity rollup technology, providing crucial next-generation technical infrastructure to support and amplify secure growth of high-value asset settlements. Backed by one of the largest community-owned treasuries globally with $4.3 billion in asset reserves, Mantle Network’s technical roadmap directly supports its vision of accelerating seamless, secure and efficient movement of institutional capital across traditional and decentralized markets.Accelerating Institutional-Grade Asset Settlements Through ZK Validity InnovationWith the testnet launch in Q1 2025 with intention towards mainnet upgrade, Mantle Network is set to evolve from an optimistic rollup model to a ZK validity rollup through Succinct’s SP1. This architectural change drastically reduces chain finality from seven days to one hour – enabling fast institutional-grade asset settlements that support and address capital efficiency opportunities throughout traditional finance and the blockchain industry.The transformative efficiency gains of ZK validity proofs have garnered significant market traction. Already powering applications with a cumulative $4.4 billion capital across leading ZK L2 ecosystems, Mantle Network maintains a bullish belief in the advancement of ZK technology to further the broader Ethereum ecosystem. Performance benefits can allow Mantle’s flagship assets, such as $mETH, $cmETH and $FBTC, with an aggregate $3.9 billion TVL, to proliferate across the wider decentralized finance (DeFi) domain. This enables better swap market spreads, lower slippage, deeper money markets, improved interest rates, and broader asset availability. Market intermediaries can rapidly rebalance inventories between Mantle Network (Layer 2) and Ethereum (Layer 1), and users can quickly move permissionlessly to access a unique set of onward routes and integrations.Key Technical BenefitsThe strategic integration of Succinct’s SP1 offers a suite of advanced features catered to developers and users:OP Succinct combines the power of Succinct’s SP1 zkVM with the modularity of the OP Stack, bridging the gap between user-friendly optimistic rollups and complex zero-knowledge technology. The innovation promotes interoperability, flexibility, and standardization that addresses Ethereum’s existing challenges. By adopting ZK validity proofs, Mantle Network transactions are cryptographically verified to be correctly sequenced and settled. This higher tier of security allows everyone to more easily and safely explore frontier areas that enhance the Ethereum experience — such as supporting more advanced application logic, enabling cross-chain actions, improving latency, and adopting multi-sequencer architectures.The synergy of fast finality, Ethereum-standard compatibility, and cost efficiency promises a profound impact, reducing fragmentation and unlocking the potential for next-generation decentralized applications (dApps). The transition enhances Mantle Network’s commitment to Ethereum’s decentralized security model as an ETH-aligned Layer 2, enabling a more cohesive ecosystem with seamless asset and information flows. Mantle Network is now poised to be a future-ready L2 chain as a native ZK rollup.As the Ethereum landscape evolves, Mantle Network’s adoption of Succinct’s SP1 positions it as a leader in scalability and innovation. Developers, users, and ecosystem partners can look forward to a faster, more secure, and interconnected Ethereum future. About SuccinctSuccinct brings zero-knowledge proofs to any developer with SP1—the world’s fastest zkVM. Succinct’s Decentralized Prover Network provides affordable and reliable proof generation infrastructure for rollups, bridges, coprocessors and other applications using ZKPs. SP1 is used by the most renowned teams in the industry, including Celestia, Avail, Lido, Polygon, AggLayer and many more. Website | X/Twitter | Discord | Blog | DocumentationAbout MantleMantle is building the largest sustainable hub for on-chain finance. Through its core products — Mantle Network, mETH Protocol, and FBTC — Mantle is unlocking the future of finance by blending institutional expertise with the transformative power of blockchain. Anchored by the Mantle Treasury, the largest community-owned treasury in the ecosystem, Mantle ensures robust liquidity and financial stability. With over $4.3 billion in assets, it actively funds core product development and fosters the growth of asset partners, such as Agora AUSD, Ethena USDe, Ondo USDY, and EigenLayer restaking, enhancing sustainable yield, deep liquidity, and financial utility on the Mantle Network. Website | X/Twitter | Devs X/Twitter | Discord | Telegram | YouTube | Blog | GitHubContactMantlewindrangerlabs@wachsman.comThis article was originally published on Chainwire More

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    in Economy

    FirstFT: Trump 2.0 looms large over Fed’s 2025 outlook

    This article is an on-site version of our FirstFT newsletter. Subscribers can sign up to our Asia, Europe/Africa or Americas edition to get the newsletter delivered every weekday morning. Explore all of our newsletters hereGood morning. On today’s agenda: US government faces shutdownA draw-it-yourself chart of the day And the FT’s Person of the YearGood morning. We start with the impact of the Federal Reserve’s decision yesterday to cut interest rates by a quarter of a percentage point. The reduction was in line with expectations, but the US central bank signalled a slower pace of easing next year and increased its 2025 inflation estimates, triggering big market movements.The dollar jumped to its highest level in two years against a basket of six currencies, while US stocks and government bond prices fell. The S&P 500 index closed down nearly 3 per cent and the tech-heavy Nasdaq Composite dropped 3.6 per cent. Shares in smaller-publicly listed companies, considered particularly sensitive to fluctuations in the US economy, were badly hit, with the Russell 2000 index closing down 4.4 per cent.Fed chair Jay Powell cited signs that progress on getting inflation down to the central bank’s 2 per cent target had stalled. He also acknowledged that some officials had begun to include assumptions about Donald Trump’s policies in their forecasts, a marked shift from his initial stance of avoiding speculation about what the next administration would do. Some economists fear that the president-elect’s plans for tariffs, mass deportations and tax cuts could lead to higher inflation, lower growth and more volatility, further complicating the Fed’s task of finding a “neutral” rate that neither slows nor accelerates growth. More interest rate decisions: The Bank of Japan left interest rates unchanged earlier today at 0.25 per cent as uncertainty swirled around Japanese wage growth and Donald Trump’s impending presidency. The Bank of England and Mexico’s central bank announce their latest interest rate decisions later. For the latest on the incoming Trump administration, sign up for our White House Watch newsletter. And here’s what else we’re keeping tabs on today:Economic data: The US has updated third-quarter GDP figures.Companies: Accenture, ConAgra, FedEx and Nike report results while members of the Teamsters union launch industrial action against Amazon in cities across the country.Luigi Mangione: The suspect in the murder of UnitedHealth Group executive Brian Thompson is due to appear in Pennsylvania for a hearing on whether he will be extradited to New York. War in Ukraine: Volodymyr Zelenskyy meets EU leaders in Brussels as the bloc’s chief diplomat warns western capitals to stop suggesting peace talks to the Ukrainian president. Vladimir Putin holds his annual press conference just days after one of his top generals was assassinated in Moscow.Five more top stories1. Joe Biden’s administration has unveiled tough new greenhouse gas emissions targets just weeks before Donald Trump’s inauguration. The upgraded targets are required by the UN in order for the US to meet its commitments under the 2015 Paris Agreement. Trump is widely expected to withdraw the US from international climate agreement when he returns to office next month. Here’s what the US government has committed to. More US politics news: Donald Trump yesterday attacked a bipartisan government funding deal as “foolish” and “inept”, killing the bill ahead of Friday’s deadline.2. A French court has found Dominique Pelicot guilty of repeatedly drugging and raping his wife over decades, and inviting more than 50 men to participate in the abuse in their family home. Judges sentenced the 72-year-old Pelicot, who had admitted to the crimes, to the maximum penalty of 20 years in prison. Read more on the conclusion to a case that has shocked people around the world.  3. Dealmakers are betting that a pick-up in so-called megamergers will gather pace under Donald Trump, after a rebound in larger deals helped push the value of takeovers back over the $3tn mark this year. The value of deals worth more than $5bn is up 19 per cent year to date. Here’s more on what dealmakers are saying about the outlook for next year. 4. EY has signed up its first new Dax-listed audit client since the collapse of payments group Wirecard despite a ban on winning auditing mandates from listed German companies. Qiagen, a biotech group listed in New York and Frankfurt, has hired the Big Four firm to be its new group auditor from January, highlighting the limitations of national audit regulation in Europe.5. The US has stepped up its battle against Isis in Syria as it seeks to prevent the group exploiting a power vacuum after rebels toppled the Assad regime. In the past two weeks, US forces have struck more than 75 Isis targets during two waves of attacks targeting jihadi leaders and camps in the fractured Arab state, Middle East Editor Andrew England reports. FT Person of the Year© Lyndon Hayes/FTThe Financial Times made Donald Trump its “Person of the Year” in 2016, a month before his inauguration as US president. He would end his first term helping to goad a mob assault on Capitol Hill, and much of the world agreed at the time that he had been, in the words of Joe Biden, “an aberrant moment”. Then came the most dramatic political comeback in modern US history. This year, the FT has again picked Trump because of his remarkable return to power. It is no longer possible to dismiss him as a blip.We’re also reading and watching . . . AI regulation: The outgoing head of the US Department of Homeland Security told the FT that Europe’s “adversarial” relationship with tech groups was hampering a global approach to regulation.US Supreme Court: Justices have agreed to hear TikTok’s appeal against a divest-or-ban law that will determine the video app’s fate in the US. The case will begin on January 10.Canada: A government once seen as embodying hopes for the renewal of liberalism in western democracies is now teetering on the brink of collapse. Justin Trudeau should go, argues the FT’s editorial board.DIY chart of the dayHow well do you know the jobs market? Test your knowledge on trends such as hybrid schedules, the gender pay gap and AI hiring with the FT’s new “draw your own chart” game.Some content could not load. Check your internet connection or browser settings.Take a break from the newsThis year the FT’s Financial Literacy and Inclusion Campaign (Flic) has teamed up with the charity Magic Breakfast to create Feed the Future, a campaign designed to make sure every schoolchild starts the day with a nutritious meal as well as financial skills training. Donate here. Breakfast clubs foster a sense of belonging that is crucial for attendance and attainment More

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    in Economy

    Yen sinks after BoJ holds rates amid caution over Trump’s impact

    Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The yen weakened past ¥157 against the dollar on Thursday after Bank of Japan governor Kazuo Ueda said the central bank needed “one more notch” of information before committing to its next interest rate rise, as uncertainty swirled around Japanese wage growth and Donald Trump’s impending presidency.Ueda’s comments at a press conference followed the BoJ’s announcement that it was holding short-term interest rates at 0.25 per cent.That decision had been widely forecast, but many economists had expected a firm indication of a rate rise at the BoJ’s next meeting in January. The absence of such a signal sent the yen tumbling against the US dollar, from about ¥155 at the start of his press conference to more than ¥156.6 by the time it ended. The Japanese currency later fell past ¥157.1, its lowest level since July.Ueda said the central bank was seeking greater clarity on Japanese wage growth as well as how Trump’s fiscal, trade and immigration policies would affect global financial markets. But such insights would take some time to emerge, he said.“Needless to say, [on] both Japan’s wage outlook and the impact of Trump’s policies, [it will] take a long time to grasp the entire picture,” said Ueda, noting that Japan’s underlying inflation was also “very moderate”.The BoJ final monetary policy meeting of 2024 was further complicated by the US Federal Reserve’s move on Wednesday to cut rates by a quarter of a percentage point while signalling a slower pace of rate cuts next year.The Japanese central bank policy board’s decision was not unanimous, with Naoki Tamura, a former executive at Sumitomo Mitsui bank, calling for interest rates to rise to 0.5 per cent, arguing that “risks to prices had become more skewed to the upside”.The two-day meeting also included an extensive review of Japan’s monetary policy history over the 25 years since the economy fell into deflation. The BoJ ended its eight-year experiment with negative interest rates in March before raising rates to 0.25 per cent in July, a move that roiled currency and equity markets.The 212-page analysis concluded that the most intensive period of monetary easing — when the central bank under former BoJ governor Haruhiko Kuroda targeted 2 per cent inflation and undertook a series of unconventional policy experiments — “did not have as large an upward effect on prices as originally expected”.The review found that large-scale monetary easing also had the side-effect of damaging the functioning of the Japanese government bond market. “Attention should be paid to the possibility that the negative effects could become larger in the future,” the report concluded, warning of “the possibility that the functioning of the JGB market does not fully recover”.On Thursday, Ueda said that the BoJ would not rule out unconventional monetary policies in the future.Economists had initially expected a rate rise going into the December meeting, though by this week a majority anticipated the BoJ would wait until January. But some warned that the decision to put off further rises until 2025 risked signalling to markets that Ueda’s push to “normalise” monetary policy was losing momentum.“In kicking the can further down the road, the risk is that the market begins to doubt the BoJ’s broader commitment to policy normalisation,” said Benjamin Shatil, senior Japan economist at JPMorgan.Stefan Angrick, head of Japan economics at Moody’s Analytics, said the latest run of economic data had left the BoJ with limited options. “The domestic economy isn’t strong enough for significant rate hikes, but maintaining the status quo risks further yen depreciation and higher inflation,” said Angrick. He warned that ambiguous communication would tie the monetary policy outlook to foreign exchange market fluctuations. More

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    in Cryptocurrency

    Marinade Finance Makes Strategic Investment in SuperSol

    Marinade Finance Makes Strategic Investment in SuperSol to Boost Solana’s Growth and Enhance Layer-2 Capabilities. The Solana ecosystem has been witnessing rapid growth and evolution, with demand for scalability, performance, and real-time capabilities reaching new heights. This growth is driven not only by traditional decentralized finance (DeFi) applications but also by the rise of emerging sectors like GameFi (gaming on blockchain) and Decentralized Physical Infrastructure Networks (DePIN). In response to these expanding needs, Marinade Finance, a prominent self-custodial staking protocol on the Solana network, has made a strategic investment in SuperSol, the first native Layer-2 scaling solution for Solana. Marinade enables SOL holders to automatically delegate their tokens to top-performing validators in a competitive open marketplace, optimizing yields by allowing validators to share fees directly with stakers.Strengthening Solana’s Infrastructure for a New EraSuperSol, designed to significantly enhance Solana’s scalability and performance, aims to address the growing demand for efficient and reliable infrastructure that can support the next wave of decentralized applications (dApps). With a primary focus on sectors such as GameFi, which combines gaming with decentralized finance, and DePIN, which utilizes decentralized networks for physical infrastructure, SuperSol is poised to become a critical component in the future of the Solana blockchain.The investment by Marinade Finance is seen as a crucial move to help SuperSol accelerate its development and adoption. By supporting innovations like SuperSol, Marinade is positioning itself at the forefront of the efforts to improve Solana’s Layer-1 and Layer-2 capabilities, ensuring that the network can handle the next generation of dApps and meet the increasing demand for high-performance, low-cost, and scalable solutions.The Role of Marinade Finance in the Solana EcosystemFounded in 2021, Marinade Finance has quickly established itself as one of the most prominent players in the Solana ecosystem. The platform allows users to automatically stake SOL tokens, Solana’s native cryptocurrency, while receiving mSOL, a liquid staking derivative. mSOL allows users to earn staking rewards while maintaining liquidity, enabling them to participate in other DeFi activities without locking their assets.Through this innovative approach to staking, Marinade Finance has significantly contributed to the overall growth and decentralization of the Solana network. By providing liquidity to staked assets, Marinade enables participants to earn staking rewards without locking their assets, thereby supporting both network security and a more dynamic ecosystem for decentralized finance.In addition to its core offering, Marinade has become an active participant in broader efforts to enhance Solana’s ecosystem. Its decision to invest in SuperSol is in line with its long-term vision to support projects that aim to improve Solana’s scalability and bring real-world use cases to life.SuperSol: A Key Enabler for the Future of GameFi and DePINThe main challenge facing blockchain networks like Solana has always been the need to scale in a way that maintains high throughput while minimizing costs. Solana’s high-speed and low-cost architecture has made it a popular choice for developers, but as adoption grows and more applications are built on the network, there is an increasing need for solutions that can handle even more transactions without compromising performance.This is where SuperSol comes into play. SuperSol is a Layer-2 scaling solution that builds on top of Solana’s existing architecture to offer increased scalability and enhanced performance. By utilizing SuperSol, developers will be able to create more efficient applications, particularly in GameFi and DePIN – two sectors experiencing explosive growth.In the GameFi space, where games and financial incentives are integrated on the blockchain, the need for high-speed transactions is paramount. Traditional gaming engines often struggle to meet the performance demands of real-time, immersive environments, but Layer-2 solutions like SuperSol can help ensure that these games run smoothly and cost-effectively on the Solana network.Similarly, in the rapidly growing DePIN sector, which includes applications focused on decentralizing physical infrastructure such as networks, energy grids, and other assets, scalability is critical. SuperSol’s advanced Layer-2 architecture is designed to handle the transaction loads and data requirements of such applications, making it an ideal fit for this emerging market.A Strategic Partnership with Long-Term ImpactWhile the financial details of the investment have not been disclosed, Marinade’s support for SuperSol is more than just a monetary contribution – it’s a strategic partnership aimed at fostering innovation and ensuring the continued growth of Solana’s ecosystem. By investing in projects like SuperSol, Marinade is positioning itself as a key player in the infrastructure and scalability efforts that will shape the future of blockchain technology.The collaboration between Marinade Finance and SuperSol is a testament to the growing synergies within the Solana ecosystem. As Solana continues to attract developers and projects across a variety of sectors, the combination of robust staking solutions and scalable infrastructure will be key to meeting the demands of an increasingly complex and diverse decentralized economy.Looking Ahead: Solana’s Continued EvolutionAs Solana’s ecosystem matures, the need for effective Layer-2 scaling solutions will only become more pressing. SuperSol’s focus on improving Solana’s real-time performance and scalability will help address these challenges head-on, making Solana an even more attractive option for developers and users alike.The strategic investment by Marinade Finance signals confidence in SuperSol’s vision and the potential impact it will have on the network. It also highlights Marinade’s commitment to not only providing liquidity solutions through its liquid staking protocol but also actively contributing to the broader development of Solana’s infrastructure.The partnership between Marinade Finance and SuperSol is a significant step toward ensuring that Solana remains a leading blockchain platform for years to come, able to support the growing demands of decentralized applications, GameFi, and DePIN with cutting-edge performance, scalability, and reliability.About Marinade FinanceMarinade Finance is a non-custodial liquid staking protocol built for the Solana blockchain. By allowing users to stake SOL tokens and receive mSOL, a liquid staking derivative, Marinade enhances liquidity and incentivizes participation in Solana’s proof-of-stake consensus. The platform is designed to make staking more accessible and flexible while supporting the broader development of the Solana network.About SuperSolSuperSol is Solana’s first native Layer-2 scaling solution, built to optimize the network’s performance and scalability. Focusing on sectors like GameFi and DePIN, SuperSol is designed to meet the increasing demands of decentralized applications by providing enhanced efficiency, reliability, and real-time performance. SuperSol is the brainchild of Eva Oberholzer, whose impressive credentials include former roles as Chief Strategy Officer at Cardano and Chief Growth Officer at ICP. With her extensive experience in protocol development, Oberholzer recognized Solana’s potential as a dominant force in the crypto world. This insight led her to tackle the ecosystem’s scalability challenges, particularly in the GameFi space. By founding SuperSol, Oberholzer aims to solidify Solana’s position as a leading asset class and drive the next wave of innovation in the blockchain industry.ContactFounder and CEOEva OberholzerSuperSol Labs Ltd.pr@supersol.aiThis article was originally published on Chainwire More

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    in Cryptocurrency

    SIDUS HEROES Expands Blockchain Gaming Ecosystem with Immersive Metaverse and Strategic Gameplay

    SIDUS HEROES is revolutionizing the blockchain gaming industry with its expansive space-themed metaverse ecosystem, designed to provide players with a deeply immersive gaming experience. By merging cutting-edge blockchain technology with dynamic storytelling, the platform creates opportunities for users to engage in interplanetary exploration, manage resources, and connect with a vast, interconnected community of players. Through ownership transparency and secure management of in-game assets, SIDUS HEROES successfully bridges the gap between gaming entertainment and the practical utility of blockchain technology.The SIDUS HEROES gaming ecosystem boasts a variety of games that cater to diverse player preferences. Nidum offers a turn-based WebGL game that takes players into the heart of brutal arenas where three warrior races fight for dominance. The game combines tactical decision-making with fast-paced action, appealing to players seeking strategic gameplay. On the other hand, Xenna introduces a post-apocalyptic setting in a strategic battle royale game. Here, players must focus on combat and resource management, balancing survival instincts with thoughtful planning to excel. Meanwhile, Tembazar immerses players in a third-person shooter adventure where they must navigate hostile environments, confront enemies, and upgrade their arsenal to endure the challenges of the game’s dynamic landscapes.In addition to these flagship games, SIDUS HEROES is actively expanding its portfolio with upcoming titles such as Hypernova and Sidus Maze. These new games are expected to bring even more depth and variety to the ecosystem, offering players additional ways to engage in tactical gameplay and interplanetary exploration.Expanding the Digital FrontierThe SIDUS HEROES metaverse represents more than just a gaming platform—it is a fully realized digital ecosystem that blends entertainment, technology, and community-driven growth. By incorporating blockchain technology into every aspect of its design, SIDUS HEROES ensures players have true ownership over their assets. This sense of ownership is fundamental to the platform’s mission, as it empowers users to shape their gaming experiences while participating in a decentralized, transparent environment.The games within SIDUS HEROES offer unique opportunities for players to immerse themselves in richly detailed narratives and diverse mechanics. Whether engaging in strategic battles, collecting resources, or exploring new territories, the platform appeals to both casual gamers and blockchain enthusiasts. By creating this inclusive environment, SIDUS HEROES is not only advancing blockchain gaming but also setting a precedent for how digital ecosystems can operate in a decentralized world.SIDUS HEROES extends its impact beyond gaming through its innovative SidusPad initiative. This Web3 launchpad connects users to emerging projects within the metaverse, fostering innovation and collaboration across the blockchain space. SidusPad employs a decentralized, DAO-driven voting system, allowing the community to actively participate in selecting and supporting promising projects that align with the platform’s overarching vision.In addition to enabling project discovery, SidusPad equips users with powerful analytical tools to evaluate these initiatives. This empowers participants to make informed decisions, further solidifying SidusPad as a valuable gateway for users to engage with the broader blockchain ecosystem. By prioritizing transparency, accessibility, and informed participation, SidusPad exemplifies SIDUS HEROES’ commitment to fostering a collaborative and forward-thinking community.Tokenomics and GovernanceAt the core of the SIDUS HEROES ecosystem lies a dual-token structure that drives both functionality and community engagement. The $SIDUS token serves as a utility token within the platform, enabling players to engage in various in-game activities such as purchasing upgrades, exchanging resources, and developing infrastructure to support their gaming ambitions.Complementing this, the $SENATE token acts as the governance token for the ecosystem, empowering the community to participate in decision-making processes. Through $SENATE, players can vote on key elements of the platform, including game mechanics, economic policies, and ecosystem upgrades. This dual-token model not only incentivizes player participation but also ensures that the platform evolves in a manner that reflects the needs and desires of its user base.A Vision for the FutureSIDUS HEROES embodies the transformative potential of blockchain technology in the gaming industry. Its commitment to decentralization, user empowerment, and innovative design positions it as a leader in the metaverse gaming space. By prioritizing user ownership and fostering community-driven innovation, SIDUS HEROES creates a seamless integration of gaming and blockchain utility.Looking ahead, the platform’s ambitious roadmap underscores its vision for sustainable growth. SIDUS HEROES is poised to expand its gaming portfolio further, introduce new features, and build partnerships that enhance the ecosystem’s value. As the metaverse continues to evolve, SIDUS HEROES remains at the forefront, shaping the future of blockchain gaming through its holistic approach and unwavering commitment to user engagement.About SIDUS HEROESSIDUS HEROES is a leading space-based metaverse that combines gaming, blockchain technology, and a profit-sharing economy. The platform offers diverse games, a robust token economy, and unique opportunities for players to engage and innovate. SIDUS HEROES is committed to creating a fair, transparent, and immersive environment where players can truly own their gaming experience.For more information, visit sidusheroes.com and follow them on X.ContactOlga Novitskayacontact@sidusheroes.comThis article was originally published on Chainwire More