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🔄 Cross-Chain Revolution: New BRC-721E Standard for NFT Migration from ETH to BTC
🚀 Yield farming app Skyrockets to $12M TVL 2 weeks after launch
DeFi God
May 31, 2023
Gm folks! Seems like there are quite a few 🌶️ stuff happening around in the DeFi Town.
🔥 What's hot today 🔥
🚀 Yield farming app Skyrockets to $12M TVL 2 weeks after launch
👮 China Poised for Crypto Victory Amid U.S. Regulatory Constraints, Says Coinbase CEO
⛏️ Tether's Green Move: Eco-friendly Bitcoin Mining in Uruguay & BTC Hoarding
🔄 Cross-Chain Revolution: New BRC-721E Standard for NFT Migration from ETH to BTC
🐦 Tweet of the day
🐸 Meme of the day
🧠 Wisdom of the day
🚀 Yield farming app Skyrockets to $12M TVL 2 weeks after launch
Origin Ether, the newly launched yield farming app, has seen a meteoric rise, accumulating over $12M in total value locked (TVL) just 14 days post-launch. This swift growth has been captured by blockchain analytics platform, DefiLlama. The app generates yield by depositing Ether into multiple DeFi protocols including Curve, Convex, stETH, rETH, and sfrxETH, employing a unique algorithmic market operations strategy.
👮 China Poised for Crypto Victory Amid U.S. Regulatory Constraints, Says Coinbase CEO
Brian Armstrong, the CEO of Coinbase, warned that China stands to benefit from restrictive crypto regulations in the United States. He believes the lack of regulatory clarity may deter innovation and push crypto firms offshore. Regulatory hurdles, like unclear guidelines from the U.S. SEC, could hamper this potential. Brian also noted that nations like Hong Kong are emerging as global crypto hubs, further enhancing China's standing in the crypto race.
In today's @MarketWatch I'm sharing an op-ed encouraging policymakers to see the big picture with crypto. It's important for American technology leadership and national security that this industry be built (at least in part) in America.
— Brian Armstrong 🛡️ (@brian_armstrong)
8:00 PM • May 30, 2023
⛏️ Tether's Green Move: Eco-friendly Bitcoin Mining in Uruguay & BTC Hoarding
Despite industry setbacks, Tether is forging ahead with plans for sustainable Bitcoin mining in Uruguay 🇺🇾, capitalizing on the country's 98% renewable energy usage. Tether also plans to invest 15% of its monthly net profits in Bitcoin, even amid criticism over its transparency and reserve status
At Tether, we understand the importance of energy in driving progress & enabling thriving communities. That's why we're dedicated to harnessing the power of renewable energy to mine #Bit#Bitcoine world's most open & secure monetary network.
Learn More 👉 https://tether.to/en/tether-inve…/
— Tether (@Tether_to)
12:02 PM • May 30, 2023
🔄 Cross-Chain Revolution: New BRC-721E Standard for NFT Migration from ETH to BTC
Unveiling the revolutionary BRC-721E token standard, a joint venture of NFT ensemble Milady Maker and Ordinals Market. This simplifies the migration of NFTs from Ethereum to Bitcoin. The process involves "burning" NFTs on Ethereum and "inscribing" them onto Bitcoin. While it's still maturing with potential for storing metadata directly on the Bitcoin network, it's already received positive feedback, helping Bitcoin hit a transaction record.
Time for a brand new protocol.
👉 Permissionless bridging from ETH to BTC
👉 Instantly listed on marketplaces once inscribed
👉 Cost efficient for large collections
👉 From the minds of @OrdinalsMarket_ and @BitcoinMiladysIntroducing BRC-721E 🥝🧵
— kiwidream.eth (@kiwi_dream)
7:28 PM • May 29, 2023
🐦 Tweet of the day
Think your crypto platform is secure?
You may want to rethink that.
Insurers analyze 20 risk areas before offering coverage.
— Defi God ⟠ thedefigod.eth 🇮🇳 (@_defi_god_)
10:20 AM • May 30, 2023
🐸 Meme of the day
🧠 Wisdom of the day
What is a hard and soft fork in cryptocurrency?
Cryptocurrency forks, either 'hard' or 'soft', are modifications to the underlying blockchain protocol. Hard forks result in a new, non-backward-compatible blockchain, while soft forks are safer, backward-compatible changes. Notable examples include Bitcoin Cash and Bitcoin SV. However, hard forks carry risks, like chain splits and potential security vulnerabilities.
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