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Hydration, a decentralized finance (DeFi) project within the Polkadot (DOT) ecosystem, has received 2 million DOT tokens, equivalent to $14.4 million, to enhance the liquidity and trading efficiency of its liquidity provisioning platform, Omnipool, according to the information disclosed to Finbold on June 10. Strengthening Omnipool with native liquidity The first million DOT will be distributed over a year to attract fresh liquidity to the Polkadot ecosystem, and Liquidity Providers (LPs) can expect initial rewards exceeding 200% APY.  Hydration’s single-sided LP system enables users to provide a single asset and join an incentives farm, with incentives available for various assets, including native stablecoins. Picks for you How rich is the first female Washington senator: Patty Murray's net worth revealed ...

While TradFi is the main source of demand for blockchain tech, digital identity and supply chain are exciting areas too, according to Google Cloud Head of Web3 James Tromans. The crypto industry is far too focused on token prices, rather than figuring out how smart contracts can be used to solve real-world business problems, according to Google Cloud's Web3 lead.  In an interview with Cointelegraph, Google Cloud’s Head of Web3 James Tromans stressed the need to focus more on the business logic in the smart contract rather than the supply and demand dynamics of the token : “What are the business problems that you want to get executed? When you're running a smart contract to execute some business logic to solve your business problem, you're using a token, but the token is not the thing, it’s the business problem that's the thing.” “So I would like us to get away from all this talk about token s and token speculation as if that is Web3 — that is not Web3,” Tromans added...

The XRPL saw a significant increase in the total new address count, which reached 138,790, representing a growth of 31.8% compared to the same period last year. Despite lingering concerns over the Ripple vs SEC lawsuit , XRP has demonstrated significant growth in multiple areas of its protocol during the second quarter (Q2) of this year, as revealed by a recent report from crypto analytics platform Messari. Based on data from Messari, XRP's circulating market cap has experienced a Year-to-Date (YTD) increase of 42.5%. This growth was driven by the asset's price surge in the first quarter. However, in the second quarter (Q2), the market cap declined by 10.7% Quarter on Quarter (QoQ), from $27.8 billion to $24.8 billion. Although the XRP network experienced a decline in transaction volume QoQ, there was a notable 12.7% QoQ increase in average daily non-fungible token (NFT) transactions, rising from 13,800 to 15,500. While XRP's XRPL has a strong presence in decentralized ...

Arbitrum’s upcoming ARB token has everyone excited about the next potential airdrop, and it looks like there’s more to come. Arbitrum developers announced an Airdrop of its governance token , ARB, to eligible users and DAOs on the Ethereum Layer-2 platform. An average user received around 625 ARB token s, which corresponds to around $625 to $1,250, according to pre-launch trading prices and popular estimations. The prospect of earning free money has instilled excitement around users looking to hunt the next airdrop opportunity. The airdrop farming activity also benefits the protocols by attracting liquidity and usage to the platform. The strategy is working well for both protocol developers and users. Moreover, the team's sale of a protocol’s token invokes securities laws, inducing significant legal risk for the developing teams. Thus, it is reasonable to assume that future protocols will use the same strategy to decentralize their protocols. Here are five potential airdrop opport...

NFT rarity is the uniqueness and scarcity of a nonfungible token, calculated using factors, such as distinguishing features and demand. An NFT’s rarity plays a role in its perceived cultural and artistic significance. For example, an nonfungible token (NFT) that is the only one of its kind and possesses significant cultural or historical value may be considered a rare and must-have artifact. But why is NFT rarity important? NFT rarity is important because the market worth and appeal of an NFT can be significantly influenced by the nonfungible token’s rarity , which can also influence its resale value. Moreover, NFT collectors frequently look for unusual and distinctive nonfungible Tokens to add to their collections. Nonetheless, it is crucial to remember that an NFT’s worth or relevance is not necessarily determined by its rarity alone. Other elements that may affect the value and appeal of nonfungible tokens to collectors include the caliber of the artwork, the reputation of the ar...

Yuga Labs' first Bitcoin NFT collection saw some backlash from the crypto community over the weekend, pointing to flaws in the way it's conducting the auction. Nonfungible token (NFT) conglomerate Yuga Labs is facing some criticism from the cryptocurrency community, including the creator of Bitcoin Ordinals, over how it plans to auction its new Bitcoin NFT collection.  On Mar. 5, Yuga opened bids for its “TwelveFold” collection which will see 300 NFT-like images inscribed on Satoshis using the Bitcoin-native Ordinals protocol, with 288 from the collection sent to the highest 288 bidders. The auction for TwelveFold has begun and will conclude on the block immediately prior to 3pm PT tomorrow, March 6th, 2023. Good luck.https://t.co/gvl8IHpekC pic.twitter.com/xGWU9jdCoO — Yuga Labs (@yugalabs) March 5, 2023 According to a Mar. 5 press release, those participating in the bidding process will be required to send their entire bid amount in BTC to a unique BTC address controlled b...