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Tangent Announces Regulated ICO With Leading European Exchan…

(MENAFN– Zex PR Wire)

Road Town, British Virgin Islands, Sept 30, 2022, , Tangent has announced that through their compliant token sale platform. Tangent has chosen as its exclusive token issuer to execute a compliant initial coin offering of . 



Sale commences 1st October 2022.

From the get-go, Monty and the LCX team have understood and supported our vision of bringing utility to the NFT scene on Cardano. Their professionalism and experience has made the on-boarding process a smooth one. We are delighted to partner with LCX exclusively, for our fully regulated token offering – Ben Gordon – Co-Founder & GM, Tangent.

Tangent is a unique project built on top of the and we’re excited about this partnership to issue $TANG tokens,” said LCX’s CEO .“LCX is experiencing one of its most prolific eras of innovation and new product development in its history. $TANG token will function like most other native Cardano tokens.”

The $TANG token sale will be managed by , which will include knowing your customer (KYC), anti-money laundering in accordance with investor onboarding, and blockchain analytics (KYT) standards. Tangent manages the $TANG token sale in a compliant manner by leveraging LCX’s extensive token sale manager and crypto compliance suite. Tangent’s private and public sale rounds are being handled by LCX.

As the official token issuer and token sale manager for $TANG, LCX will plan the legal factors and register the sale with the regulator. In conformance with the Financial Market Authority and regulatory approvals, LCX will manage several key aspects of the token sale. The , terms of the $TANG token sale, and an independent legal opinion from a credible European law firm categorizing the $TANG token as a utility token will be included in the notification to the regulator.

Tangent Contributing Inclusively In The NFT Market

Tangent is on a mission to develop a unique solution to bridge the gap between Non-Fungible Tokens (NFTs), finance, and tangible real-world asset classes, given the Non-Fungible Token (NFT) industry’s explosive expansion and widespread blockchain usage. will be a permissionless platform where investors, artists, and other parties can stake, get incentives, and experiment with innovative NFTs on the Cardano blockchain in a secure and sustainable manner.

Tangent feels that the platform should ultimately become independent and community-led. To achieve this objective, they have designed the TANG token as a governance token whose primary function will be to actively steer Tangent towards self-sustainability and shared community ownership. The and will be a tradable asset that behaves similarly to the vast majority of other native Cardano tokens, except that it can also be used as a voting mechanism.

TANG holders will be able to directly participate in governance by voting on ideas pertaining to the token’s development and usage, as well as the future of the Tangent platform. Any proposal that meets the governance protocol’s proposal requirements will be eligible for a vote by the community.

Media Contact:
Ben Gordon

MENAFN30092022004812010992ID1104952311


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Why KubeCoin (KUBE) crypto surged 50%?

KubeCoin (KUBE) token gained more than 50% after it announced to trade on the MEXC crypto exchange with the pair KUBE/USDT. Its price was US$0.5249 at 6:29 am ET on Tuesday.

The token is also available for trading on Huobi Global and Gait.io crypto exchanges.

It will also be listed for trading on the Bitmart exchange on July 14. KubeCoin listed the token on several exchanges after it completed its initial coin offering (ICO) on July 5.

However, due to the “vesting” period, token holders cannot transfer their KUBE tokens from the KubePay wallet to any exchange. For presale allottees, the vesting period is from 30 to 90 days, and for ICO allottees, it is 180 days.

What is KubeCoin?

KubeCoin was founded by Paolo Della Pepa in Barcelona in 2021. It is a DeFi token to transact in the Kube ecosystem and partner platforms. The token was created to make it an exclusive cryptocurrency for the real-world travel and leisure industry.

Built on the Cardano blockchain, the KubeCoin ecosystem comprises projects such as FlyKube, EatKube, KubePay, NFT Platform, NFT Project and KunbeIN.

FlyCube provides unique traveling experiences and has been active since 2017. Likewise, EatKube offers unique gastronomic experiences, while KubePay is for transactions. Besides trading, Its NFT marketplace provides access to exclusive events, sales, airdrops, etc.

Image Source: ©Kalkine Media®; © Rizelle Anne Galvez via Canva.com

KUBE token:

The token’s market capitalization is not immediately known, but the circulating and total supply are 480 million. Its trading volume rose 490759.51% to US$13.6 million in the last 24 hours. The token is available for trading on MEXC, Huobi Global, and Gate.io.

Bottom line:

The crypto market is extremely volatile; investors should exercise caution before investing in digital assets. 

Risk Disclosure: Trading in cryptocurrencies involves high risks, including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory, or political events. The laws that apply to crypto products (and how a particular crypto product is regulated) may change. Before deciding to trade in financial instruments or cryptocurrencies, you should be fully informed of the risks and costs associated with trading in the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Kalkine Media cannot and does not represent or guarantee that any of the information/data available here is accurate, reliable, current, complete or appropriate for your needs. Kalkine Media will not accept liability for any loss or damage as a result of your trading or your reliance on the information shared on this website.




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What is 0x (ZRX) crypto, and what does it do?

The 0x (ZRX) token gained 1.80% on Wednesday even as its volume dropped around 28% to US$35.8 million in the past 24 hours. The token was priced at US$0.3403 at 4:56 am ET.

However, the global crypto market continued to fall, shrinking nearly 59% year-to-date. Major cryptocurrencies like Bitcoin (BTC) have been falling sharply.

Let us look at what is 0x and what does it do?

What Is 0x (ZRX)?

0x is an infrastructure protocol offering trading services for ERC-20 tokens and other assets without centralized intermediaries on the Ethereum blockchain.  

The protocol uses publicly auditable, open-source smart contracts that allow developers to apply its flexible, low-friction elements to build their products.

The project was co-founded by Will Warren and Amir Bandeali in 2016, and they serve as the company’s CEO and CTO, respectively. 

Ox raised US$24 million from investors, such as Polychain Capital, Pantera Capital, FBG Capital, etc., during its initial coin offering in 2017.

0x is different from other Ethereum decentralized exchanges as it supports both fungible and non-fungible ERC tokens that enable holders to transact in various Ethereum assets. 

0x crypto

Data Source: Coinmarketcap.com

The protocol is used in services such as OTC trading and marketplaces for digital goods.

0x users pay their protocol fee/gas bills in Ether (ETH) token. Liquidity borrowers pay fees in ZRX token, which incentivizes the nodes’ or relayer’s liquidity. 

It does not receive any revenue share since it is an open-source protocol, supported only by the unlocked ZRX tokens and ICO funding. 

ZRX token and its performance:

ZRX is an ERC-20 utility token of the 0x protocol. It is used for paying nodes, called ‘relayers’, for their services. It is also used for participating in the 0x protocol’s governance. 

With 193,635 total holders, the token has a market capitalization of US$288 million. Its circulating supply is 847.5 million ZRX, and the total supply is one billion.

The token can be purchased from Binance, MEXC, Bitget, and Bybit crypto exchanges

Bottom line:

The crypto market fell 5.42% to US$895.49 billion on Wednesday morning as it continued its fall. Investors should exercise due diligence before investing in cryptos.

Risk Disclosure: Trading in cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory, or political events. The laws that apply to crypto products (and how a particular crypto product is regulated) may change. Before deciding to trade in financial instruments or cryptocurrencies you should be fully informed of the risks and costs associated with trading in the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Kalkine Media cannot and does not represent or guarantee that any of the information/data available here is accurate, reliable, current, complete or appropriate for your needs. Kalkine Media will not accept liability for any loss or damage as a result of your trading or your reliance on the information shared on this website.

 




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How do Pundi X (PUNDIX) crypto and its retail business work?

A few cryptos were swimming against the tide on Tuesday amid the continuing decline in the global crypto market, which fell 1.89% to US$944.68 billion, dragged down by losses in Bitcoin (BTC) and other major cryptocurrencies. 

Bitcoin (BTC) fell 1.93% to US$21,019.91, and Ethereum was trading at US$1,219.98, down 1.04%. However, the altcoin Pundi X (PUNDIX) jumped 3.22% to US$0.4482 at 6:45 am ET.

The token gained traction after opening its 11th crypto store at a Turkey shopping mall. 

The company plans to host an AMA session with Ramp Network on June 29. Ramp is a payment infrastructure platform for crypto assets. It also shares insights into Pundi X and the Ramp ecosystem.

What Is Pundi X (PUNDIX)?

Pundi X develops blockchain-enabled Point-of-Sale devices to transform retail business. These devices allow buying and selling and crypto payments for various store purchases.  Its PoS solutions enable consumers and merchants to execute blockchain transactions instantly.  

Pundi X was founded in 2017 as the world’s first PoS solution.

It brought its initial coin offering (ICO) in 2018. After the successful ICO, it launched other services such as XPOS, XWallet, XPASS and BOB/XPhone. 

XPOS is the blockchain-powered wireless PoS for cryptocurrencies. The product is designed so to accept all cryptocurrencies. XWallet is a mobile app to manage digital assets, including transfers, check balances and top-ups.

XPASS is a card issued to every XWallet registered user, while Blok-on-Blok (BOB or XPhone) is the world’s first blockchain phone built on Android 9.0, enabling decentralized internet. 

In 2019, it launched an ‘Open Platform’ to cater to more blockchains and DeFi developers.

The Singapore-headquartered company has offices in London, Jakarta, Sao Paulo, Tokyo, Seoul, and Taipei. According to its website, it had more than 100 employees as of January 2022.

Zac Cheah and Pitt Huang founded the Pundi X project after they struck with the idea in 2012 during a meeting of the HTML5 Interest Group. Currently, Cheah is the CEO, and Huang serves as the CTO and COO of Pundi X.  

Coinmarketcap.com

PUNDIX token:

The PUNDIX token has a market capitalization of US$115.8 million. 

Its volume catapulted to US$55.4 million, up 358.12% over the last 24 hours. The token has a circulating supply of 258.5 PUNDIX, the same as the total supply. FTX, Binance, KuCoin, DigiFinex and Upbit are some crypto exchanges that offer the PUNDIX token for trading. 

Bottom line:

Pundi X solutions are used in over 25 countries, including the US, Australia, Spain, Taiwan, Argentina, and Korea. The token fell nearly 57% YTD.

Risk Disclosure: Trading in cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory, or political events. The laws that apply to crypto products (and how a particular crypto product is regulated) may change. Before deciding to trade in financial instruments or cryptocurrencies you should be fully informed of the risks and costs associated with trading in the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Kalkine Media cannot and does not represent or guarantee that any of the information/data available here is accurate, reliable, current, complete or appropriate for your needs. Kalkine Media will not accept liability for any loss or damage as a result of your trading or your reliance on the information shared on this website.




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Explainer: Can crypto holders recoup losses in court?

A downturn in cryptocurrency prices and crash of one stablecoin has led some investors to try to recover their losses in U.S. court. Here is how cryptocurrency litigation has fared so far and the challenges investors may face.
WHO IS BEING SUED?
Companies that created cryptocurrencies, exchanges that facilitated their sale, and individuals who promoted them have all been sued.
Kyle Roche, who represents cryptocurrency holders in several lawsuits, said U.S. claims over cryptocurrency often involve alleged violations of federal securities or commodities laws, which prohibit fraud and manipulation and require products and operators to be registered with U.S. authorities.
The latest lawsuit took aim at Terraform Labs, the company behind Terra USD, over the stablecoin’s recent collapse.
A crytocurrency investor sued the Seoul-based company and its Chief Executive Do Kwon on June 17, alleging they failed to register the company’s digital assets as securities and worked with several venture capital funds that backed Terra USD to defraud investors.
A Terraform Labs spokesperson called the claims meritless.
Tether, which is behind the world’s largest stablecoin, has been accused of rigging cryptocurrency markets in a lawsuit in New York. And Ripple, whose founders created the token XRP, has been hit with a lawsuit in California, claiming it sold unregistered securities.
Both lawsuits have survived motions to dismiss.
A spokesperson said Ripple disputes the allegations and will defend against them. Tether did not respond to a request for comment.
Cryptocurrency exchanges have been another target for investors seeking to recoup losses.
Binance U.S. was sued on June 13 by investors claiming it falsely marketed TerraUSD as a safe asset ahead of its collapse. And in March, investors accused Coinbase of selling 79 digital assets as unregistered securities.
Binance and Coinbase have denied the allegations.
Investors are also suing celebrities who have publicly touted cryptocurrency. A lawsuit filed in Los Angeles claims Reality TV star Kim Kardashian and boxing legend Floyd Mayweather Jr. engaged in a cryptocurrency pump and dump. Representatives for Kardashian and Mayweather did not respond to requests for comment.
LEGAL HURDLES
A wave of lawsuits brought in 2020 against exchanges alleging they fueled an illegal boom in digital coins largely failed after judges found some of the claims were filed too late or had too little connection to the United States.
Timing should not be an issue for newer lawsuits, but cryptocurrency holders seeking to sue overseas companies in U.S. court could still face hurdles.
Token holders won a default judgment in New York against Singapore-based exchange KuCoin, but dropped the case after a Singaporean court would not make the company provide information to enforce the judgment.
KuCoin did not respond to a request for comment.
Another potential hurdle for investors filing claims under securities or commodities laws will be showing their tokens meet the legal definition of those assets. Some courts have ruled that certain cryptocurrencies fit the bill, but the issue remains unsettled.
Cryptocurrency holders may face additional obstacles when going after exchanges. In the Coinbase lawsuit, the exchange has argued that it was not a party to the transactions, and that private litigants cannot enforce registration requirements.
HAVE ANY CRYPTO HOLDERS WON MONEY IN COURT?
While many cryptocurrency lawsuits are pending, the SEC has reclaimed some funds for investors in a handful of digital assets through settlements.
But even after a settlement, investors may face long waits and still end up with less than they shelled out.
Last year, blockchain company Block.one agreed to pay $27.5 million to settle token holders’ lawsuit alleging it had violated securities law.
More than 100 token holders filed claims worth more than $75.7 million, according to court filings. The settlement has not yet received final approval.




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Siam Commercial Bank Public : Token X appointed as ICO portal







Token X appointed as ICO portal provider for Y.S.S.P. Aggregate, with a joint study on investment token feasibility underway to support EEC economic and industrial growth

Token X Co., Ltd., a subsidiary under SCBX Group is actively providing total digital token solutions, including an initial coin offering (ICO) portal. The company has been appointed as the ICO portal provider for Y.S.S.P. Aggregate Co., Ltd., an operator of water resource development and management for the industrial sector. The partnership will focus on a joint study on investment token feasibility for water management projects for industrial estates to support economic and industrial growth in the Eastern Economic Corridor (EEC) and to explore business growth opportunities through investment innovations that are primarily based on blockchain technology and digital tokens.

Token X’s Chief Executive Officer, Ms. Jittinun Chatsiharach said, “The initial coin offering (ICO) portal business is a key business driver that will allow SCBX to achieve its mothership strategy of paving the way for the future financial world. As an ICO portal provider, we hope to offer new alternatives for effective fund raising for digital token issuers. Access to fund sourcing is essential for exponential business growth. Businesses are likely to increasingly turn to fund raising via digital tokens in the future because they help unlock the potential of assets with low liquidity that has been restricted by the traditional fundraising approach amid the current economic situation.”

“We are delighted and honored that Y.S.S.P. Aggregate Co., Ltd. has appointed Token X as the company’s ICO portal provider, and we will jointly study the feasibility of investment token issuance. As the ICO portal provider, Token X is committed to deploying our potential, capability, knowledge, and expertise with digital tokens and our experience in blockchain technology in developing new and effective fundraising approaches for Y.S.S.P. Aggregate to help the company find new growth patterns and investors through a more diverse range of investment alternatives.” Ms. Chatsiharach added.

Y.S.S.P. Aggregate Chief Executive Officer Mr. Yutthachai Phukhanthasom said, “We have inked the appointment of Token X as the company’s ICO portal provider to study investment tokens to support economic and industrial growth in the Eastern Economic Corridor (EEC). Y.S.S.P. Aggregate is a well-established and strong partnership of stone, soil, and sand mining concession businesses in Chonburi and Rayong. Thanks to our extensive water resource network, we understand water resources in this area very well and have strong water management skills. Our personnel and advisory teams are equipped with experience and expertise in water production and distribution for both the public and private sectors. The company’s shareholding structure includes Thai Polycons PCL, which supports our construction work, and other strategic partners to help strengthen our capital. We are confident in taking an active part in water management to support economic and industrial growth in the EEC following the government’s strategy.”

“As for our partnership with Token X as our ICO portal provider, Token X will help advise on organizing the business structure and review project plans to ensure regulatory compliance with Securities and Exchange Commission (SEC) requirements to boost the company’s business opportunities and growth potential.” Mr. Phukhanthasom added.

About Token X

Token X Co., Ltd. is an SCBX Group subsidiary pursuing its aspiration of becoming a “Tokenization Success Partner.” The company is equipped with capable teams and personnel ready to offer total digital token solutions and initial coin offering (ICO) portals. For more information, visit www.tokenx.finance or www.facebook.com/tokenx.th, or contact contact@tokenx.finance

About Y.S.S.P. Aggregate Co., Ltd.

Y.S.S.P. Aggregate Co., Ltd. is an operator of water source development and management for the industrial sector to effectively support industrial growth in the Eastern Economic Corridor (EEC). For more information, visit www.yssp-group.com or contact contact@yssp-group.com

Disclaimer

SCB – Siam Commercial Bank pcl published this content on 31 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 May 2022 04:09:08 UTC.

Publicnow 2022

All news about THE SIAM COMMERCIAL BANK PUBLIC COMPANY LIMITED

Sales 2022 151 B
4 433 M
4 433 M
Net income 2022 40 509 M
1 188 M
1 188 M
Net Debt 2022

P/E ratio 2022 9,41x
Yield 2022 4,22%
Capitalization 379 B
11 111 M
11 111 M
Capi. / Sales 2022 2,51x
Capi. / Sales 2023 2,41x
Nbr of Employees 25 953
Free-Float 99,0%

Chart THE SIAM COMMERCIAL BANK PUBLIC COMPANY LIMITED

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The Siam Commercial Bank Public Company Limited Technical Analysis Chart | MarketScreener



Income Statement Evolution

Sell

Buy

Mean consensus BUY
Number of Analysts 19
Last Close Price 112,50 THB
Average target price 145,11 THB
Spread / Average Target 29,0%



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SBI Coin, The World’s Leading Cryptocurrency Trading

Tokyo, May 26, 2022 (GLOBE NEWSWIRE) — SBI Coin, a self-developed digital currency trading platform, has been online and operating safely for five years.

Digital currencies are experiencing a “cold winter” as the Federal Reserve continues its aggressive “tapering”. According to CoinMarketCap, the entire cryptocurrency market lost more than $500 billion in value last week alone, and many individual cryptocurrency investors are experiencing a similar dilemma to that of 519 in 2021, making it crucial for investors to choose a cryptocurrency trading platform with stable trading, stopping loss in time and safe. The reporter recently learned from SBI (sbicoin.com) that its new SBI Coin trading service system was put online and used the technical iteration optimization on April 30. This will effectively realize the free switching trading of various digital assets such as bitcoin, Ethereum, Solana and Dogecoin, providing a more secure and reliable environment for digital currency trading.

The reporter learned that SBI Coin has been dedicated to the service of cryptocurrency trading since its establishment in May 2017 and has always maintained a high growth rate. Today, it has grown into one of the most popular digital currency trading service platforms, providing a series of cryptocurrency trading services such as Bitcoin, Ether, Solana, Dogecoin, etc., for millions of users in 100 countries and regions around the world. It gives users a differentiated service of safe and reliable, free trading, low spreads and high leverage, multi-language support, and 7×24 hours online throughout the year.

SBI Coin, The World’s Leading Cryptocurrency Trading Platform: Creating a New Generation of Intelligent Trading System

A safer and more secure trading environment

Most digital crypto trading platforms currently offer multiple security protections for users and investors, such as dual login authentication, PGP encrypted email communication, email or SMS alerts, etc., but this pales in comparison to the ever-evolving technology. No matter how sophisticated the technology is, there are still times when hackers can exploit it. Therefore, it is vital to have a contingency mechanism for security incidents.

Different trading platforms have different approaches to this problem. For example, Firecoin and Cryptocurrency have set up risk funds to deal with security incidents, but risk funds are ultimately a product of centralization.

SBI Coin starts with professional security network security issues. It builds a strong protection system and implements enhanced security level measures by simulating risks such as data leakage and capital theft to ensure that customers’ assets are safe and stable.

More stable trading environment and low spreads and high leverage 

Cryptocurrency users spread all over the world. When the market fluctuates, platforms often have to deal with millions of traffic in a short period of time. In order to cope with extreme market conditions, SBI Coin has developed a more responsive and dynamic scaling technology, which allows it to expand its server resources more quickly to cope with the impact of heavy traffic when a big market comes. As a result, SBI Coin’s trading service can still run at high speed when other trading platforms lagging or disconnected during extreme market conditions.

The SBI Coin platform allows for small trades of around $10 and multiples of leverage against account balances, enabling small amounts of capital to be leveraged into large investments with the lowest spreads in the industry. At the same time, to help users manage their own risk, SBI Coin has also introduced a “Immediately Executable Price Range” to help investors stop losses in time and minimize risk.

SBI Coin, a self-developed digital currency trading platform, has been online and operating safely for five years. In the future, SBI Coin insists on its mission to provide a safer, more reliable, more efficient, more convenient, and more stable cryptocurrency trading system environment for new users.


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The Apes Movement Community Token, announces its Official Launch on Pink Sale Finance Platform

/EIN News/ — Miami, FL, April 22, 2022 (GLOBE NEWSWIRE) — The Apes Movement Community Token, aiming to be an important player in the crypto space, is starting its adventure with a unique fair launch event held on April 30, 2022; the invitation is for all the interested Apes/Investors to this extraordinary event. 

The Apes Movement Community Token fair launch aims to craft a wider distribution and an effective price discovery. The project will not set a dollar price for the tokens; supply and demand in the fair launch event will. No Pre-Sale, Initial Coin Offering, Seed Round, or Whitelist before fair launch is completed; everyone has the same opportunity to acquire The AMC Token (TAMC) from day one.

The AMC Token acronym for The Apes Movement Community Token should not be associated with AMC Entertainment Holdings, Inc., the publicly-traded company, as they are not linked together. The Apes Movement Community Token is not part of the company, and in any way, shape, or form is alluding to that.

Bitcoin was the original Fair Launch. Since then, no coin has reached their ideal conception. Still TAMC can replicate part of Bitcoin launch with a fair distribution to all interested investors in a self-governed community based token, giving all equal chances to be in the TAMC structure. 

The real holders of most coins in the industry are the team founders and institutional investors. In The AMC Token structure, the actual holders will be the people, as the team has renounced 92.5% of the tokens and the fair launch creates an equitable distribution. This way, The AMC Token assures that nobody can front-run anybody, no one can execute a rug pull or scam, and the audit of the Smart Contract confirms that no future tokens can be minted.

The only platform that can create an authentic fair launch is Pink Sale Finance. With their strict protocol and verification, The AMC Token guarantees the safest and best experience for investors. TAMC was created with transparency and fair economics in mind.

This is not financial advice, please download the whitepaper for more information.

Media Contacts:

The AMC Token 

Website: https://theamctoken.com/ https://theamctoken.net/

Email: media@theamctoken.com

Telegram: https://t.me/officialtheamctoken

Twitter: https://twitter.com/theamctoken

Fair Launch: https://www.pinksale.finance/#/launchpad/0x55fe1a2750594a8C06f503A2F48Ae64Df24fEcdB?chain=ETH





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Here’s how Indian crypto firm Biconomy is gearing up for web3

  • Biconomy was founded in 2018 and was the first Indian crypto company to list a token on Coinlist.
  • In the web3 world, Biconomy basically wants to become the payment gateway for crypto transactions.
  • The BICO token is the network’s native governance token.

Amongst the handful of web3 companies from India making waves in the web3 space is Biconomy. The company provides a non-custodial and gas efficient scalable relayer infrastructure that aims to simplify transaction processes for
web3 firms. The company also has the BICO token, which is listed on many large exchanges, including WazirX right now.

Among its many plaudits, Biconomy was also the first Indian web3 firm to list a token on
Coinlist, which in itself is a sign that the platform is not in the web3 space to take advantage of the crypto craze. Coinlist is an initial coin offering platform, and has a diligence process that keeps just any web3 firm from listing a token on its lists.

What is Biconomy?

In simple terms, Biconomy wants to become the Stripe of the web3 world. The company was founded by Aniket Jindal who studied from Fudan University in Shanghai and worked at Binance in 2017. He moved back to India in 2018 and decided to launch Biconomy with co-founders Ahmed Al-Balaghi and Sachin Tomar in an effort to make the adoption of decentralised apps easier. While Balaghi was an advisor and seed investor at Matic Network, which is now called Polygon, Tomar was a software engineer at Samsung Electronics before coming to Biconomy.

“We are solving for the makers and players of web3. Our mission is to simplify the future of transactions, ensuring that decentralisation is truly accessible to all,” the company says on its website.

The company
raised $9 million in a private funding round led by DACM and Mechanism Capital in July last year. It also has strategic investments from Coinbase, Bain Capital, Coinfund, NFX True Ventures, Proof Group, Ledgerprime and more. DeFi firm
Aave’s founder Stani Kulechov has also backed the company.

So far, the company has partnered with 100+ dApps including DeFi platform Curve Finance, trading platform Perpetual Protocol, gaming platform Decentral Games, social blogging platform Sapien Network and more. At the time of writing, the BICO was trading at around ₹148 on
WazirX.

BICO Token is the network’s native governance token

The BICO token is the primary driver of the Biconomy platform. The token has a market cap of over $189 million as of February, according to
Coinmarketcap, and a circulating supply of over 106 million tokens. Its total supply is one billion.

The BICO token is the native governance token of the Biconomy network, and it has two main objectives — providing network fees and incentives to stakeholders. This means that node operators on Biconomy pay the network fees, while they are also paid in BICO for the work they put in for validating transactions on the network.

Node operators have to stake BICO tokens in order to join the Biconomy network, and the token also helps in other aspects of running the network.

Perhaps most importantly though, the token also acts as a mechanism that allows others a say in the network. Being a governance token, BICO token holders can propose and vote on decisions that affect the network’s progress in the long run. Any token holder is allowed to propose changes to the network, and such changes can only be passed once there’s a
consensus amongst the majority of the holders.

What role does Biconomy play in web3?

The Biconomy network is basically meant to allow gasless transactions, which essentially means that it will bring down costs for DeFi platforms which are facilitating transactions in the web3 world. The company has three main products — Mexa, Forward and Hyphen.

Mexa is the one that allows gasless transactions in decentralised applications, while Forward allows users to pay transaction fees using tokens instead of cash. Hyphen, on the other hand, is meant to provide faster and inexpensive token transfers across different blockchain networks.

Together, the three products give Biconomy multiple use cases. On the one hand, it provides gasless transactions, but on the other, it also allows interactions between layer 1 and layer 2 solutions, and in the long run can become part of any web3 platform that incorporates crypto transactions in any way.

Importance of the BICO token

While tokens like BICO have more applications than simple utility tokens, they too are traded on exchanges like WazirX. In the long run, tokens like BICO will attract serious crypto investors, who invest in the long term development of a company like Biconomy that helps decentralised apps and finance, rather than single tokens that may or may not survive. The token can be traded on WazirX in both INR and USD, and was trading at around ₹148 at the time of writing.

Disclaimer: This is a sponsored post in partnership with WazirX.


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