Are You Looking To Finance That Cryptocurrency Project ? Here Are The Leading IEO Options You Need To Know

IEO is a major means of business finance in the crypto scene. Here is how this works in two of the leading crypto exchange.

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The crypto scene has witnessed a surge in several projects with some merely riding the crypto wave, and others making a real global impact. The most notable projects, for all we know, have come off the Ethereum blockchain due to its versatility, and we can only expect more to unfold in the coming months.

Do you intend funding a crypto project in the remainder of 2020? If yes, you must first know that, at the moment, there are a plethora of projects out there, and it can be overwhelming to just pick one and fork out liquidity. Hence, the need to focus on the legitimate cryptocurrency projects whose uses cases are providing massive global value.

Let’s take a look at the top 2 leading platforms to explore when funding a crypto project. This two are by no means the best, but they are platforms that have continued to generate positive feedback and push the usage of Ethereum and the general adoption of cryptos.

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Binance Launchpad

Binance Launchpad is the exclusive sales platform of the Binance Ecosystem where tokens are launched and traded – more like a fundraising event. Binance users on this platform are afforded the opportunity to invest in new and transformative projects using their Binance Coin (BNB).

The idea is to ensure that projects can be continually funded with the liquidity obtained from Binance users, to drive the mainstream adoption of cryptos. Some successful crypto projects on this platform’s launchpad include Band Protocol, Kava, Troy, WazirX and Cartesi.

Why Should You Explore Binance Launchpad?

The Binance launchpad enlists projects and provides in-depth reviews about every single one of them via its research centre. These projects are open to all Binance users and investments can be acquired through a lottery token system.

However, prior to enlisting a project on the Binance Launchpad platform, it is subjected to a rigorous verification process to ascertain its compliance with the established Binance standards.

This platform ensures that the crypto project is:

Made up of a goal-oriented team;

Relatively matured and in the developmental stage;

Ready for large scale operation

Poised for expansion towards a larger crypto ecosystem

Post-verification, the project is then hosted and made available to verified users of the platform. It is good practice to have a thorough read of the report provided on any project before sanctioning any kind of investment. Taking the advice provided by the research centre to heart will help guide your decisions and ensure that your first Binance Launchpad investment is successful.   

Bitmex IEO Launchpad

Bitmex IEO Launchpad is another leading platform to explore when looking at funding a crypto project. Exchanges host crypto projects on their platform to attract massive interest, while also keeping up with the demand of the market – Bitmex is no different.

Let’s examine what “IEO” means for Bitmex Launchpad, and how it makes it the place to go when looking at funding crypto projects.

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IEO and Bitmex Launchpad

Initial Exchange Offering or IEO for short is a token trade held on crypto exchanges. Depending on how an Initial Exchange Offering is planned, it works seamlessly on several crypto exchanges.

IEO enables the Bitmex Launchpad platform to create a pool where developers trade crypto projects and tokens with investors and enthusiasts. In contrast to ICOs, IEOs have been generating more positive reviews, ad they are a better alternative, hence, the peculiarity of the Bitmex Launchpad platform.

Why Should You Explore Bitmex IEO Launchpad?

Just like with the Binance Launchpad platform, projects are painstakingly reviewed to ascertain their authenticity and reliability based on certain pre-established conditions. Once the project meets the set criteria, the Bitmex IEO Launchpad team will go on to announce token sales and the price per token.

Additionally, IEO platforms are user-friendly and they improve trust levels among crypto projects. IEO tackles the problem of poor returns on investment experienced by ICOs.

You Must Read: As The Crypto Spring Becomes Evident,Here Are The Top 3 DeFi Leaders In H2 2020

The Rise and Rise of DeFi, And All You Need To Know About The 3 Leading Yield Farming Global Platforms

As the crypto market develops, the rise of yield farming seems to have taken many people by surprise. Here is all you need to know.

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The cryptocurrency world is always buzzing with several options on how to make money, and yield farming is yet another that promises massive returns. If you’re a Decentralized Finance (DeFi) systems enthusiast, then you must have encountered “yield farming” a couple of times.

With the booming expectations in the DeFi space right now , let’s have a look at what you need to know about yield farming and some of its high-flying platforms to explore.

Yield Farming – What is it about?

Yield farming (or liquidity harvesting) is a creative and well-managed process that productively put crypto tokens to use in a DeFi market, and also offer investors (better known as liquidity providers) the freedom to switch in-between protocols to maximize ROI.

Simply put, consider yield farming as similar to depositing liquidity in traditional banks to facilitate loans with the aim of getting returns. However, in this case, cryptocurrency is the central entity.

Yield farming became popular after the breakout of Compound (COMP) governance token. It is facilitated by ERC-20 tokens on the Ethereum blockchain, and it offers a means to passively earn some income.

The returns on yield farming are only enticing for liquidity providers if the coin in question experiences rapid and significant appreciation.

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So How Exactly Does Yield Farming Work

The basic approach here is lending cryptocurrency to speculative borrowers through decentralized applications (dapps) such as Compound, a leading player in the DeFi space.

The obtainable interest from lending is largely dependent on market demand, but for every time you engage the services of Compound, you’ll receive Comp coins together with interest and other charges. As already established, if the value of Comp token appreciates significantly, returns also skyrocket.

Apart from Compound, other platforms in the liquidity harvesting space are Curve, Uniswap, Synthetix, Ren, etc. At the moment, these entities hold billions of dollars in aggregate liquidity known as total value locked (TLV).

The higher the TLV, the more yield farming can occur. Additionally, yield farmers are allowed to actively participate in the development and governance of these platforms. Contrasted, these farmers are mostly speculators who just want to earn massive APR using the “move it here and there” strategy, as symptomatic of crypto trading.

Yield Farming Associated Risks – Are There Any?

Just like the farmlands of actual farmers can be ruined by pests, rodents and harsh climatic changes, yield farming is not risk-free. The headline risks in yield farming originate from price oracles, smart contracts, exchange rates, governance practices, etc.

The good and the bad is the permissionless and interdependent nature of DeFi protocols. This poses a problem when an entity goes sub-optimal or runs into operational crisis, and the entire ecosystem takes the impact.

You Must Read: 7 Funding Options You Can Explore To Make Your Business Dreams Come True

Top 3 Platforms to Explore

Yield farming strategies are not static, and each platform has its rules and associated risks. Here are the top three most popular platforms to explore:

Compound(Comp)

This platform is an algorithmic financial market that thrives on the exchange of assets between lenders and borrowers. An Ethereum wallet is all that’s required to become a liquidity provider (LP) on Compound and begin to earn amazing rewards. The reward rates are constantly adjusted by algorithmic protocols to reflect the realities of market demand and supply.

Compound is an integral entity of the yield farming network and its worth exploring.

Curve

Curve is a decentralized asset exchange pool on the Ethereum blockchain that’s specifically designed to enhance the trading of stablecoin. Unlike other DeFi platforms, Curve offers low slippage and high-value stablecoin exchange.

The yield farming stage has enjoyed an abundance of stablecoins, thereby making Curve an integral part of its architecture.

Uniswap

Uniswap is another popular – yield farming – platform to explore. It facilitates the trustless and rapid exchange of crypto assets through its decentralized protocol. Here, (liquidity pools)LPs create a marketplace by depositing the equivalent value of a market pair of any token.

The above creates a liquidity pool for traders to leverage on, and in return for LPs, they earn rewards for the trade volume they generate. The trustless and frictionless nature of the Uniswap platform can come in really handy for yield farmers.

What’s in the Future for Yield Farming?         

Since the advent of the Compound token, the DeFi space has continued to experience a new wave of thinking. However, negative spikes cannot be ruled out in the future. The good news is, yield farming is still in its infancy, and as it becomes more robust, stakeholders will invent new projects and protocols to enhance liquidity incentives.

Although a risky place to invest your liquidity, yield farming is moving fast and offers huge interest rates, and this could continue.

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As The Crypto Spring Becomes Evident,Here Are The Top 3 DeFi Leaders In H2 2020

The reign of DeFi has translated to more money in the hands of crypto hodlers. Here is how you too can join the rave.

The decentralized finance (DeFi) market has experienced a massive growth over the last several months. Anyone following blockchain trends will likely know that ICOs are a thing of the past. Now, it is all about DeFi projects.

DeFi pulse statistics shows that the sector’s total value locked (TVL) is currently at $6.71 billion and grows by $500 million weekly. This is massive growth from the previous month with a TVL of about $2 billion.

According to recent published reports, the TVL dropped to $500 million in March 2020. However, this explosive growth stems from the yield farming ecosystem and the high lending interest of DeFi projects.

Just as expected in any market, this sector has its leaders. Currently, Maker, Aave, and Curve Finance are the leading projects.

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1. Maker

Maker Dao is the current leading DeFi project, with more than $1.46 billion of the $6.71 billion locked within this single project. Maker outperforms other platforms in the DeFi world pretty much the same way Bitcoin tops the crypto industry.

Maker is the oldest and the most recognizable name and cryptocurrency on the list. It is a decentralized credit platform on Ethereum that supports DAI – a stable coin with a USD-pegged value.

You can open a vault with Maker, lock in collateral such as BAT or ETH, and generate DAI as a debt against that collateral. DAI debt induces a stability fee (a continuously accrued interest) paid upon repayment of borrowed DAI.

Also, Maker has a unique feature called DAI Savings Rate (DSR). The feature enables DAI holders to lock their DAI into Maker’s DSR contract and receive a variable interest rate in DAI, generated from stability fees.

Maker dominated the DeFi sector with 21.78% of the TVL.

2. Aave

Aave is an open-source, non-custodial protocol on Ethereum for borrowing and lending a vast range of cryptos using stable and variable interest rates. I should also mention that the platform is entirely decentralized.

Aave offers notable distinguishing features such as rate switching, flash loan, uncollateralized loans, and unique collateral types.

It also uses a native coin – LEND – as a bargaining chip to provide holders with discounted fees. LEND is also staked for governance and as the first line of defense for outstanding loans.

Also, Aave provides the broadest range of DeFi collateral of any lending protocol on the market and takes a large share of the DeFi lending market due to its strong liquidity and the chance to protect against smart contract risk.

Aave’s flash loan feature opens the doors for safe and secure arbitrage opportunities at virtually no cost to the user.

Unlike other lending platforms that tend to lock users into a variable or fixed interest rate, Aave’s rate-switching feature allows users to switch between two different markets and earn by arbitrage.

This enables users to get the best interest rate on their loans by choosing between “variable” and “stable” interest rates.

However, these stable rates are not fixed interest rates but a rather stable form of variable interest rate, which is constant and less susceptible to market fluctuations.

Though launched in May 2020, Aave is currently ranked second and locked at $1.26 billion.

Read Also: What To Expect From The Crypto Market In H2 2020

3. Curve Finance

The Curve is also a decentralized exchange liquidity pool on Ethereum designed for stablecoin trades. It is ranked third with a TVL of $1.04 billion.

Since its launch in January 2020, Curve enables users to trade between various stablecoins with low slippage. Its small fee algorithm was explicitly designed for stablecoins and earning fees.

The Curve is also one of the few DeFi protocols to achieve exact product-market fit by fulfilling a specific purpose that market participants have come to value.

Also, Curve serves as an alternative to trading stablecoins on general-purpose DEXes such as Uniswap, whose algorithm is not optimized.

Curve also integrates with DeFi lending and borrowing platforms like Compound, dYdX, and Aave, which allows Curve users to earn interest on top of their trading fees.

Another interesting fact about Curve and other Ethereum-based DeFi protocols in its class is that they allow anyone to provide liquidity to the market.

Unlike traditional market makers that often use exchange-provided assets to provide liquidity to a market, Curve delivers to users with assets that support its market to provide liquidity.

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Conclusion

Hopefully, the reign of DeFi will lead to a further deepening of the cryptocurrency market for the benefit of investors . There is no doubt that there is more to come in the days ahead.

2020 Has Been The Year of DeFi. Here’s How It Has Given Cryptocurrencies A New Lease of Life

DeFi has redefined how finance works in today’s world. With blockchain enjoying a world of its own, investors around the world have poured in hundreds of billions of USD to reap the rewards here.

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How Decentralized Finance Works in Crypto

Decentralized Finance or DeFi for short, is an inclusive and remodelled open finance format that typifies the unification of decentralized technologies (like the blockchain) and traditional banking systems. Simply put, DeFi systems aim to provide substitutes for existing financial services in the aspects of loans, insurance, savings, asset trading and lots more.

DeFi is largely dependent on decentralized applications (Dapps) on the Ethereum blockchain, and to understand its capabilities, the concept of Dapps must be adequately understood. 

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How Important is DeFi?

The importance of DeFi in the evolution of financial systems as we know them, cannot be overemphasized. This open finance format offers huge prospects for the expansion of global economies, and since 2019, it has been considered one of the most significant and rapid advancements in the cryptosphere by analysts.

Recent reports have also revealed that DeFi tokens are, without cessation, outstripping their compeer, having surged by over 200% since the start of 2020.

DeFi Apps and Crypto

At the moment, DeFi apps have grown in popularity and are already securing businesses, money and time. The emergence of Decentralized Finance platforms has become evident in virtually all parts of the financial sector, inclusive of cryptocurrencies. All DeFi apps are transparent, open-source, interoperable, flexible, and permission-less, as seen in numerous Ethereum-based projects. 

In the crypto sector, decentralized exchanges are perceived as the next big thing towards achieving the desired evolution. Decentralized exchanges (DEX) will eliminate the chances of theft and exchange hacks that have plagued centralized systems.

When crypto assets are traded on a decentralized exchange, the transactions are facilitated by smart contracts rather than traditional intermediary systems in centralized exchanges.

Smart contracts protect crypto transactions on the blockchain and ensure that the entirety of the system is not vulnerable to hackers. The DeFi ecosystem isn’t just flourishing, it is quickly changing the business approach of established institutions, while also facilitating the emergence of thousands of crypto projects.

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Here are some of the most exciting and interesting projects, in no particular order, and of course, by no means exhaustive.

1inch

Before the emergence of tokens and smart contracts, cryptos were normally traded via exchanges. Due to this, exchanges have enjoyed massive growth and have become major players in the crypto world. The surge in the popularity of Ethereum, created Decentralized Exchanges (DEX), and ever since, more DEX projects have launched on the ETH blockchain.

1inch improves on the existing concept by taking it a little further. To be more explicit, 1inch is a DEX aggregator that scans through all the DEXs on the Ethereum blockchain to obtain the best prices for any asset as desired by the user. 1inch offers a powerful tool, especially for users who are in the market for the best price margins.

One way to get the best of crypto investments is to research and purchase yet to be launched token on major centralized EXs. Being on the ETH network, purchasing 1inch tokens before they debut in large crypto economies, would be an excellent choice.

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Curve

Having kickstarted in 2019, Curve is another amazing DeFi application in the cryptosphere. It is an exchange pool built on the ETH blockchain, that utilizes bonding curves, and specifically designed to support and boost the trading of stablecoin (DAI, USDC, USDT and TUSD), while also providing low-risk income fees for liquidity merchants.

With Curve, users do not experience price fluctuations as they normally would on DEXs, when swapping one stablecoin for the another. In the case where assets on other DeFi platforms, especially Compound, are not being traded, Curve lends the assets and return interests to providers of liquidity.

Curve is accessible on mainnet via curve.fi and it supports DAI, USDC, USDT and TUSD. Trading and depositing are facilitated by MetaMask, a web3 wallet.

Compound

At the moment, Compound is a top-rated DeFi project, and it offers users the opportunity to borrow ETH tokens and payback with interests. Liquidity providers could also come into play by providing their token for loan purposes with the aim of receiving loan profit.

This platform offers huge profits, and at a time like this, where savings in traditional banks give little annual interest or lost to inflation, Compound becomes a lucrative option. Compound is intuitive and well-designed and can be accessed via mobile wallets or online channels.

Uniswap

This is an innovative automated market-making DeFi platform with a protocol that enables ultra-swift trade settlement between parties. The Uniswap protocol ensures that, as much as possible, the closing trade value of assets reflect their real market value. You can become a liquidity provider with amazing interest rates provided via a dedicated pooling feature.

Summary

As the major sectors of the global society tend towards decentralization, the demand for DeFi applications will no doubt skyrocket in the nearest future. At the moment, DeFi continues to remarkably disrupt and dictate the pace of today’s business systems, while also dictating new standards.

You Must Read: The 10 Leading Stablecoins of 2019 and What You Should Expect

Here Is How Cryptocurrencies Have Become The Norm For Money Transfer

Crypto beats fiat as a result of its flexible governance structures. With no Central Bank to look to, these digital currencies have taken on a new life as money transfer vehicles.

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Is the crypto option for money transfers here to stay? Here is what you need to know

Cryptocurrencies have become the new normal of money transfers. It is gradually becoming a thing to request a cryptocurrency wallet address rather than a bank account number when trying to transfer funds between counterparties. The reasons are obvious.

Crypto payments are fast and secure due to the cutting-edge technology of the blockchain. Also, transaction costs are minimal, making it a good choice from a business perspective since both sides get to keep the part of the payments that would have gone to settling payment transfer costs in a regular wire transfer.

Crypto transfers seem to be here to stay given all their benefits. However, there are existing limitations you need to keep in mind before converting all of your cash to BTC or ETH.

Reach

Despite having been in existence for more than a decade, cryptocurrencies have still not been adopted globally by most people. As at the beginning of the second quarter of 2020, there were 50.71 million blockchain wallet users worldwide, in contrast to well over a billion regular bank accounts. At this point, one would realize that there is a huge gap to be filled.

This is something to keep in mind as most people do not have cryptocurrency wallets, and you can’t transfer to them without one. A suggested solution is to try to open the conversation with clients or suppliers or any other business counterparties, encouraging them to open a blockchain wallet and make your business transactions seamless.

Price stability

This is a major issue with cryptocurrencies. Imagine getting a transfer of say 2 BTC worth $18,000, and just before you’re able to either pay for another product with it or convert it to a fiat currency, the value drops to $12,000, which is a $6,000 loss on a single transaction.

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A way around this is to transact in the stable cryptocurrencies known as stablecoins. The USDtether, for example, is tied to the value of the US Dollar. Tether cryptos are not as subject to volatile swings in value as other cryptocurrencies and this makes it safer to use them for transactions.

Government regulation

Some countries have strict regulations that limit the volume or usage of cryptocurrencies by law. For example, Binance was created in China but had to move to Japan due to issues with regulators. Be sure to confirm if there are no restrictions on the use of cryptocurrencies either within your own country or that of your counterparty.

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Platform Security

The safety of blockchain only guarantees that transactions and their history cannot be tampered with. Beyond that, your wallet is vulnerable to the extent to which you can protect your account. If malicious hackers gain access to your account passwords, your cryptocurrency funds will be lost. Hence, it is important to secure your wallet either through 2 Factor Authentication (2FA) or Authy.

As long as you keep the above factors in mind, the blockchain and cryptocurrencies ecosystem will make your experience with transferring money seamless even across borders.

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