Cryptocurrency

The discussion was sparked by three proposed “Wish For Change” (WFC) scenarios introduced by Jonas Gehrlein, a research scientist at the Web3 Foundation. Gehrlein’s proposals seek to adjust the network’s inflation rate to ensure a balance between staking rewards, economic security, and ecosystem development.The three WFC proposals are as follows: Proposal 1 suggests a fixed 10% total inflation rate, Proposal 2 proposes an 8% fixed rate, while Proposal 3 recommends an 8% rate for the first year, followed by a gradual decrease. These proposals are currently open for voting within the community.Zou Yang, founder of Polkadot Ecological Research Institute, responded with a fourth proposal suggesting a 5% fixed inflation rate. According to Yang, reducing the inflation rate to 5% would provide a better balance between staking rewards and growth within the Polkadot ecosystem. He argued that the current inflation rates in Gehrlein’s proposals, which all exceed 8%, could negatively impact the development of ecosystem projects by diverting too much focus towards staking rewards.Gehrlein defended the higher inflation rate proposals, citing the need to maintain a balance between validators’ profitability and Polkadot’s economic security. He warned that reducing rewards below a certain threshold could necessitate a higher minimum commission rate, ultimately destabilizing the network’s security in challenging market conditions.Gehrlein also highlighted the complexity of the economic dynamics at play, noting that any big reduction in the inflation rate should be approached cautiously and monitored closely. He stated that his proposed third WFC, which involves an initial 8% inflation rate with a gradual reduction, provides a balanced approach while allowing room for adjustment based on ecosystem observations.Yang, however, claims that Gehrlein’s proposals focus excessively on the security and profitability of validators at the expense of broader ecosystem development. He pointed out that an inflation rate of 8% or higher could deter developers and reduce market activity, ultimately harming Polkadot’s long-term growth.Yang’s call for a 5% fixed inflation rate reflects the concerns of several community members, including those who have left the Polkadot ecosystem, such as former investors, developers, and project teams.The current discussion is a non-binding referendum, meaning the results will serve as guidance for a future on-chain vote to adjust the inflation parameters.  More

Bitunix, a rapidly growing player in the cryptocurrency exchange market, has made a significant leap by ranking as the 13th global exchange on CoinGecko, categorized by trust score on September 2, 2024. This milestone comes on the heels of Bitunix unveiling its reserves through the implementation of Proof of Reserves (PoR), a move that has set a new standard for transparency in the industry.By disclosing the Proof of Reserves, Bitunix has solidified its reputation as one of the most secure, liquid, and transparent derivatives exchanges worldwide. The exchange has established its place amongst some of the most eminent names in the crypto industry. Source: CoinGeckoBitunix’s PoR initiative reassures users that their funds are backed by real, verifiable reserves, setting a benchmark for accountability. Besides a secure platform, the exchange also allows users to execute trades directly on the chart with minimal effort, making the user experience phenomenal. In addition to this, Bitunix also accounts for high liquidity across 250+ trading pairs and 24*7 customer support.These rankings collectively reinforce Bitunix’s reputation as a reliable and user-centric exchange. With the launch of PoR, Bitunix joins the ranks of other trusted exchanges such as Bybit, OKX, and Bitget, further establishing its credibility and appeal. In fact, this success comes along with another of Bitunix’s great achievements in such a short time, which is to surpass 1 million users.There are other platforms and rankings that are also validating Bitunix’s achievements, either by showing the exchange’s proof of booking, ranking it at the top of the rankings, etc. Some of these platforms are Coinmarketcap and DeFiLlama.This achievement highlights the progress Bitunix is making in its commitment to becoming the world’s leading derivatives exchange. With every milestone, Bitunix brings users closer to an environment where trading is effortless, secure, transparent, and increasingly liquid. Moreover, as the company itself points out on its social media, this is just the beginning, as 2024 still brings major releases that they claim will revolutionize the way cryptocurrency trading is done to date.With attributes such as best liquidity, 24/7 customer support, and a strong commitment to regulatory compliance, Bitunix remains at the forefront of delivering a reliable trading experience for the global crypto community. Bitunix has attracted over 1,000,000 users from 100+ countries and has facilitated a cumulative daily trading volume that exceeds $1 billion on the platform.Website | Telegram | X | LinkedInContactCOOKXBitunixkx.wu@bitunix.ioThis article was originally published on Chainwire More

Yield Staking and Auction-focused Pencils Protocol announced the successful completion of its strategic round of fundraising, which has propelled to an impressive $80 million post-money valuation. This round was led by Taisu Ventures, DePIN X, Bing Ventures, and Black GM Capital etc. Pencils Protocol has been on a mission to revolutionize the decentralized finance (DeFi) landscape. With innovative products like Farming, Vaults, and Auctions, Pencils Protocol created a platform that not only offers robust financial tools but also empowers users to take control of their financial future. Their success is rooted in the support of the community — over 400,000 active users and a staggering $300 million in Total Value Locked (TVL) demonstrate the impact they have made in the DeFi space.About Pencils ProtocolPencils Protocol is a next-generation decentralized platform offering innovative DeFi solutions, including leveraged yield aggregation, auction services for blockchain and real-world assets (RWAs) and more. In partnership with Scroll, Pencils Protocol leverages zero-knowledge technology to enhance the scalability, privacy, and fairness of decentralized applications.Website: http://pencilsprotocol.ioMedium: https://medium.com/@PencilsProtocolTwitter: https://x.com/pencilsprotocolContactHead of External RelationshipsMikePencils Protocolinfo@pencilsprotocol.ioThis article was originally published on Chainwire More

Merlin Chain, a revolutionary Bitcoin Layer 2 platform, has achieved unprecedented milestones in just six months, solidifying its position as the largest Layer 2 in the Bitcoin ecosystem. With a Total Value Locked (TVL) surpassing $1.2 billion and bridge transactions exceeding $16 billion, Merlin Chain has redefined how users interact with Bitcoin, empowering native assets, fostering liquidity, and driving innovative ecosystem developments.Since its launch in early 2024, Merlin Chain has grown into the largest Bitcoin-native network, with 1.9 million on-chain addresses and over 12.7 million transactions processed. The platform has also become the leading hub for Bitcoin-native assets, hosting over 80% of all Bitcoin-native asset holders.Merlin Chain’s remarkable achievements in the first half of 2024 include:To further solidify its leadership, Merlin Chain launched its 210M $MERL Ecosystem Grant Program in June, focusing on enhancing user experience, Bitcoin-native asset innovation, ecosystem engagement, and developer tools. The grant is aimed at expanding the platform’s ecosystem by empowering builders and innovators to contribute to the future of Bitcoin Layer 2.Technical Advancements and SecurityMerlin Chain’s commitment to innovation is supported by its advanced technical architecture. The platform has implemented ZK-Rollup technology and multi-token staking Oracle (NYSE:ORCL) nodes to enhance security, scalability, and transparency. By integrating solutions like Babylon and BTC Staking/Restaking, Merlin Chain is pioneering new ways to optimize Bitcoin-native asset yields.Merlin Chain has also partnered with leading security firms such as Celestia for data integrity and Cobo for advanced MPC wallets, ensuring that users have access to cutting-edge technology to safeguard their assets. Additionally, Merlin Chain established the Merlin Security Council, which includes renowned partners like Slowmist and BlockSec, further fortifying its security infrastructure.Looking Ahead to 2024As Merlin Chain continues to lead in Bitcoin Layer 2 innovation, it is preparing for even greater expansion in the second half of 2024. With plans to integrate Bitcoin’s latest protocol updates and drive further growth in its ecosystem, Merlin Chain aims to become the dominant force in Bitcoin-native assets, liquidity, and interoperability across multiple chains, including EVM, Solana, and TON.“We are incredibly proud of the strides we’ve made in such a short time,” said Jeff, Founder of Merlin Chain. “Our success wouldn’t be possible without the support of our community and our innovative partners. As we look ahead, we’re excited to continue pushing the boundaries of what’s possible for Bitcoin and its Layer 2 ecosystem.”Users can read Merlin Chain’s full report here: https://drive.google.com/file/d/1PtDSlqIHxAC1eiQXI2vB7DRTSXI-NQR_/view?usp=share_linkAbout Merlin ChainMerlin Chain is a Bitcoin Layer 2 that integrates the ZK-Rollup network, decentralized oracle network, and on-chain BTC fraud-proof modules. Merlin Chain is committed to empowering Bitcoin’s native assets, protocols, and products on Layer1 through its Layer 2 network to Make Bitcoin Fun Again. Merlin Chain is a subsidiary product line of Bitmap Tech, a premier OG team boasting an overall market cap exceeding $500 million. The BRC-420 “Blue Box” collection under Bitmap Tech has become one of the hottest assets on Ordinals.For more information, users can visit Merlin Chain’s Website | Twitter | DiscordContactHead of BD and PartnershipJonathanMerlin Chaincontact@merlinchain.comThis article was originally published on Chainwire More

OceanDoge, a German-based cryptocurrency project, has announced the official launch of its token presale, offering a unique opportunity to participate in a blockchain initiative that combines digital asset development with marine conservation efforts.OceanDoge is committed to supporting marine conservation while creating a sustainable ecosystem for its token holders. With 71% of the Earth’s surface covered by oceans and 78% of the world’s wildlife living in the seas, OceanDoge recognizes the urgent need for action.A central part of the project is supporting environmental organizations such as Oceana and other major ocean preserving foundations, which will be funded through donations to protect the oceans and their inhabitants.OceanDoge as an Environmental Movement in the Crypto SpaceOceanDoge sees itself not only as a cryptocurrency but also as a movement that brings people together and promotes collective action for a better planet. By supporting major environmental organizations, the project aims to make a positive impact on the environment.With a clear token distribution, thoughtful planning, and a solid roadmap, OceanDoge aims to play a long-term role in the crypto world. The developers invite interested parties to join the “OceanDoge Revolution” and work together to protect the oceans and the planet.Presale Stages and TargetsThe OceanDoge presale is divided into several phases, each with different price and sales targets. The presale will involve a total of 54 billion tokens and aims to raise up to $21.15 million:| Stage | Token Price (USDT) | Tokens Sold (ODG) | Target Fundraise (USDT) || 1 | 0.0001 USDT | 28,500,000,000 ODG | $2,850,000 USDT || 2 | 0.0004 USDT | 18,750,000,000 ODG | $7,500,000 USDT || 3 | 0.0016 USDT | 6,750,000,000 ODG | $10,800,000 USDT || Total | – | 54,000,000,000 ODG | $21,150,000 USDT |Summary:The OceanDoge presale offers an opportunity for early investors who may value a tiered pricing model. A total of 54 billion tokens will be sold in three phases at varying prices, with an expected total raise of $21.15 million.OceanDoge’s Future PlansOceanDoge has outlined its roadmap in five phases, ranging from the introduction of the token to supporting marine conservation projects and strengthening its community. The key milestones include:1. Initial phase with the creation of smart contracts and token presale.2. Marketing campaigns and exchange listings.3. Supporting environmental projects and donating to foundations.4. Enhancing security measures and community growth.5. Loyalty programs, governance, and the establishment of its own foundation to support ocean conservation.Tokenomics and Further DetailsThe total supply of OceanDoge tokens is 180 billion. Of these, 30% are allocated for the presale, with the token price starting at 0.0001 USDT and increasing through multiple phases. Long-term investors may have opportunities to earn additional rewards by holding and staking their tokens.About OceanDogeOceanDoge is a German-based cryptocurrency project that combines blockchain technology with a mission to support marine conservation. By funding environmental organizations and promoting sustainable practices, OceanDoge aims to create a positive impact on ocean preservation while building a long-term ecosystem for its token holders. With a clear roadmap and token distribution, the project seeks to engage a global community in protecting the planet’s oceans. For more information, readers can visit the website: https://oceandoge.com/ContactOceanDoge OfficialOceanDoge memecoin 2024info@oceandoge.comThis article was originally published on Chainwire More

According to IntoTheBlock, historically, the average duration between Bitcoin’s halving events and the subsequent peak is approximately 480 days. This pattern places the next anticipated peak in the summer of 2025.Bitcoin’s halving events, which occur roughly every four years, reduce the reward for mining new blocks by half. The last Bitcoin halving happened on April 20, 2024, at the block height of 840,000. Bitcoin’s block reward was reduced from 6.25 BTC to 3.125 BTC.The halving events have historically been followed by substantial price increases, as the reduced supply of new Bitcoin entering the market often leads to increased demand.In the current cycle, Bitcoin’s price has seen a decline of nearly 12% from its halving price of $63,900. While this decrease might seem discouraging in the short term, it is not unprecedented. Past cycles have also experienced periods of consolidation or minor declines before the market gathered momentum for a significant rally.The current market behavior suggests a period of accumulation, where investors and institutions may be positioning themselves ahead of the anticipated price surge.Bitcoin’s price has fallen 8% this month, exceeding the decade-long average decrease of 5%. September is one of only two months with average losses since 2013, with June being the only other negative month with an average price movement of -0.35% for that period. On average, September has been the worst month for Bitcoin in the last decade.However, Bitcoin’s dip in September has frequently been followed by increases. Bitcoin has often recorded increases in October, a month regarded to as “Uptober.” Since 2013, Bitcoin has had an average decline of 5% in September, followed by a 22% gain in October and a 46% increase in November in the 2021 crypto market bull run.This article was originally published on U.Today More

Despite the gloomy outlook, Chris Burniske, a well-known crypto expert and partner at Placeholder VC, shared a bullish perspective.He pointed out that, even though Bitcoin and Ethereum are going through a period of consolidation, there are signs of strength across a wider range of blockchain projects. Even though the market is down, blockchains are still making their way into the wider social and tech landscape, noted the expert.Burniske’s optimistic view is not a new one. He was right about Solana last year when the price went back up after dropping to $9. This made him a lot more credible when the project actually came back from the dead.It is worth mentioning that the crypto market is gearing up for a few major unlock events that could have an impact on price movements. Next up are XAI (6.28%, $6.44 million) and GMT (3.68%, $9.79 million) on Sept. 9, followed by APT (2.23%, $66.39 million), ICP (0.51%, $17.04 million) and MOCA (2.01%, $17.12 million) on Sept. 11. On top of that, STRK is set to have a 3.6% ($27.63 million) unlock on Sept. 15.While the sentiment in the market may currently feel as though “Satoshi is dead,” as Burniske says, the upcoming events and continuing blockchain progress signal a potential bullish shift on the horizon.This article was originally published on U.Today More

She made it clear that the U.S. claims that there are not any large layoffs occurring and that the economy is deeply into a recovery. For cryptocurrencies like Bitcoin and others, this poses a crucial question: Will the strengthening U.S. influence Bitcoin’s performance or might it cause people to pay less attention to alternative assets like BTC?The chart for Bitcoin indicates a decline toward $54,573, but its recent performance has been inconsistent. Since data on inflation and job growth affect market sentiment, Bitcoin has been finding it difficult to gain traction.Bitcoin has historically profited from economic turbulence because investors use it as a store of value or as a hedge against inflation. Still, the story could be altered by the economy. The appeal of alternative assets like Bitcoin may decline if the economy keeps improving, especially with a robust labor market and decreasing inflation.Short-term BTC growth may be slowed by investors’ increased comfort in established markets. In addition, there may be cause for concern given the recent decline in nonfarm payroll data and the worst week for the S&P 500 since March 2023, however, these events may also portend a return to riskier assets once the economy stabilizes.Nevertheless, Bitcoin might see a comeback if Yellen’s bullish forecast proves to be overly optimistic, if inflationary pressures reappear or the economy contracts. It continues to be appealing as a decentralized asset to people who are not fans of centralized economic systems.This article was originally published on U.Today More