On 1/18/2021, Binance performed the largest ever token burn of 3.6 million BNB (~$165,791,000 USD). This was done in accordance with their 14th quarterly BNB token burn. Total BNB supply thus decreased to 170,532,825 BNB. They have reached 13% of their goal to burn a total of 100 million BNB (half of the supply).
*BNB powers the Binance Ecosystem. As the native coin of Binance Chain, BNB has multiple use cases: fueling transactions on the Chain, paying for transaction fees on Binance Exchange, making in-store payments, and many more.
Japan Virtual Currency Exchange Association officially whitelists the Enjin Coin in Japan. Whitelisting is the official practice of allowing identified entities access to a particular privilege, service, mobility, access or recognition. This is pretty big news for Enjin, as the coin in itself acts as a store of value when it gets locked into non-fungible tokens within the Enjin ecosystem. In addition, this isn’t just possible within Enjin’s ecosystem alone, but there's a huge amount of potential where cross ecosystem integration can be built through in-app economies.
Japan seems to be a really good use case for Enjin, as Japan contains one of the biggest gaming ecosystems in the world. Even within their corporate structure, we have the likes of Sony, Nintendo, Sega, Bandai Namco, Konami, Square Enix, etc. In addition, they are the first gaming cryptocurrency that was approved by the JVCEA under the Fund Settlement Law.
For this next bull cycle,...
Disclaimer: Not Financial Advice
Markets have had a healthy retracement as of late, and it could not be a better time to look for coins to invest in. One of the ecosystems that needs to be closely monitored is the oracle solutions. This includes the likes of Chainlink, amongst other projects. However, one project that should not be ignored is API3. The reason why API3 should be under everyone’s radar is because it is the first major project that utilizes first party oracle solution. To elaborate the importance of API3, we need to look at traditional solutions in the form of Chainlink.
Traditional solutions, such as those implemented by Chainlink, have API providers go through two to three oracles where Chainlink acts as the middleman. More oracles mean more decentralization but higher gas fees. API3 has no middleman since it utilizes something called an Airnode, which can be thought of as “The API gateway” for...
1.13.2021 YFI Proposal Change
One of the most popular DeFi projects, YFI has risen dramatically since its July 17, 2020 launch. Its developer, Andre Cronje, wanted a platform that optimized yield and lending for users, hence the name: YFI or yEarn.Finance, as in you earn. The coin was the first governance token of its kind since it was not pre-mined, pre-sold, or available on exchanges: you could only earn the YFI token from using the protocol. On 1/13/2021, there was a proposal to switch YFI staking rewards with YFI buybacks on the open market. If adopted, this change would simplify the platform and remove the staking requirement to earn YFI. Moreover, capital appreciation from buybacks could reduce taxes that would otherwise be considered dividend income. More proposal details here. Currently, an informal poll shows >90% support among the community.
Another update from 1/7/2021: "Binance Staking Launches YFI Staking with Up to 4.49% APY"
1.13.2021 New DGB Integrations