DeFi is causing a great stir in the crypto-verse – from a supposed exit cam to the ether meltdown at the Bitcoin exchanges, the decentralized financing platform and its (shit) coins have shifted into the focus of investor attention. The news check with Jan Heinreich Meyer.
Unloved token swap at Bitcoin exchange Crypto.com: MCO holders revolt
The trading platform Crypto.com has drawn the ire of parts of the Monaco (MCO) holders with a token swap. At the beginning of August, the Bitcoin Circuit UK exchange announced that it would no longer rely on two – CRO and MCO – but only on one in-house token. The MCO is to be abolished by November. Until then, holders of the discontinued model have the option of exchanging MCO for CRO. The exchange rate dictated by Crypto.com is what makes the MCO Holders rebel . You are faced with a fait accompli. Especially since Crypto.com once promised that there would never be such a token swap. Some of them now want to enforce better conditions. To this end, they have founded an association: the CDC Customer Alliance.
DeFi bully SUSHI keeps the crypto world in suspense
No question about it: There is currently a similar gold rush atmosphere in the DeFi space as at the time during the ICO boom 2017/2018. New projects are springing up like mushrooms, and always adventurous constructions ensure that high returns can be „earned“ without any real economic benefit. Sushiswap (SUSHI) has also found such a path: With the ERC-20 token SUSHI, the project has opened up an additional monetization path for users of the decentralized exchange Uniswap. On the weekend, however, there was a supposed exit scam . The founder „only“ sold his SUSHI tokens in order to transfer the project into new hands. The SUSHI course then crashed. At press time, SUSHI is trading at $ 2.74. Still clearly overratedif the analysts at Glassnode have their way. The loss in value of the Uniswap clone Hotdog-Swap was downright catastrophic. The platform’s own HOTDOG token lost 99 percent of its value after an exemplary pump.
DEXodus: More and more ethers are migrating from centralized Bitcoin exchanges to DeFi platforms
The big Bitcoin exchanges are also feeling the effects of the DeFi boom – in the form of falling ether stocks. Since the beginning of September, the ETH reserves in the centralized exchanges have decreased significantly. The liquidity of DeFi platforms – above all Uniswap – rose sharply at the beginning of the month. It is suspected that Holder would prefer to use their Ether units to provide liquidity on DeFi platforms . In addition to high risk, there are also enormous returns – until the next smart contract error is discovered.
McDonalds, Nestlé and O2 involved in blockchain pilot project
The certification company “Trustworthy Accountability Group” is not only bold with its name: With McDonald’s, Nestlé and O2, DAG had numerous prominent partners for its blockchain pilot project. The project aimed to shed light on the technology’s potential for the advertising industry. In July, a year-long test run ended for a DLT-based platform that declares war on online advertising fraud. For example, this is intended to prevent fake click figures for advertising campaigns. The results seem to be promising .