Monday, November 29th, 2021 |
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Your Weekly Update On All Things Crypto |
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- Barbados Intends To Launch Digital Embassy In The Metaverse
- Layer 2 DEX, Diversifi to Launch New Rewards Program with Incentivized AMM
- Covid Variant Spooks Market, Risk-Off Sentiment Drives Bitcoin Below $55K
- Altcoin Dominance Grows Despite Market Shakeout
- Events on the Horizon: DCentral Miami Nov 30th - Dec 1st
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Barbados To Launch Digital Embassy In The Metaverse |
The world as we know it is changing. The metaverse is no longer simply a concept, in fact, it is rapidly transforming into a reality. With that being said, Barbados recently revealed its plans to build a metaverse embassy, taking a huge step toward legitimizing the metaverse concept in the process.
Barbados, therefore, hopes to build a digital embassy through a partnership with Decentraland. The local government is currently in the midst of negotiating collaborations with many top Metaverse platforms and industry leaders. Although there is a lot more work to be done, many believe that this will go a long way towards bringing the idea of the metaverse and its subsequent implementation into the mainstream.
Barbados, if successful, will be the first independent nation in history to have an embassy constructed in the metaverse. The foreign minister of Barbados, Jerome Walcott, stated that Barbados remains optimistic about interacting with the rest of the world via the new digital embassy. The plan had also reportedly been in the works for several months prior to the announcement. The Times Are Changing Hot on the heels of Facebook recently rebranding as 'Meta', other various constituents of several sectors such as those pertaining to the blockchain, cryptocurrency, NFT, and social media industries had all begun taking the notion of the metaverse much more seriously.
Now, with the new plans of constructing a digital embassy being announced by Barbados, few can argue against the fact that we are gradually moving towards a new age, one that will in all likelihood be fully digitalized. However, it is worth pointing out that despite the interest in the metaverse, Barbados' government has stated that current affairs in the real world are still going to be prioritized above all else.
Moreover, there is also the issue of how sovereignty will actually work within the metaverse, and how certain things such as the issuance of visas and passports along with the establishment of international treaties will function in a digital realm. Still, although these problems are certainly going to become more common as time progresses, the government's willingness to even consider a move that will include active involvement with the metaverse is indeed noteworthy. Not Everyone Is On Board Unsurprisingly, not everyone is supportive of the aforementioned decision to create the digital embassy. Will Gottsegen from CoinDesk recently commented that perhaps not everything should be dependent on blockchain technology and that the idea of a metaverse embassy, while certainly intriguing, is one that may be little more than an empty promise from a politician or official who simply wants to cater to the members of the cryptocurrency and blockchain communities.
Elsewhere, others are worried about how the treatment of property rights will occur within the metaverse. Some have even gone as far as to claim that shifting to a digital realm with little to no laws will in all certainty lead to anarchy and chaos. Some are also concerned about the role that NFTs will play in this as well, in addition to Barbados' government potentially using this opportunity to exploit others via land rights and impose digital control while simultaneously bypassing international rules and regulations in the real world.
Whatever the case may be, it is clear that before the idea of this digital embassy can be fully actualized, plenty of obstacles and challenges will need to be navigated through first. In related news, Barbados also has plans of opening digital embassies with various other providers such as SuperWorld and Somnium Space. Additionally, as per the latest reports, Barbados plans to tentatively launch the embassy by January 2022.
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We're launching our rewards programme on 24th November. Trade or provide liquidity pools to earn! |
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Layer 2 DEX, Diversifi to Launch New Rewards Program with Incentivized AMM |
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A primary objective for DeversiFi is to make decentralized finance (DeFi) available for everyone as well as to make the DeversiFi platform a one-stop destination for all DeFi necessities. DeversiFi had thus soft-launched DVF (the protocol’s governance token) earlier this year using its own respective launch mechanism known as 'DeversiFi Launch Market', after which its community experienced steady growth and expansion.
Furthermore, Deversifi's initial 'Rewards' program shall be launched in a couple of weeks, as well as its first series of incentivized AMMs (Automated Market Makers). This dual endeavour will enable users to successfully make money through trading on DeversiFi or via contributing liquidity to one of its fresh incentivized pools with the best returns on Layer 2. Trading rewards and liquidity mining The gas-free trading feature is one of DeversiFi's key advantages, but it's taking it a step further with the aforementioned 'Rewards' program. Starting December 1st, traders who utilize the platform shall be eligible to earn DVF, which will be computed based on the amount of fees the users would have paid every week as a part of the total 'fees pot.'
The program is divided into week-long segments. Each period, the entire amount of accumulated trading fees that are paid by swappers and traders on the platform, in addition to the trading and swapping fees paid by any given user, shall be computed. The user's share of the overall DeversiFi platform swapping and trading fees paid is thus determined during the week, which will then culminate in the equivalent part of the weekly set pot of DVF awards being distributed. There will also be no gas fees. In other words, one needs simply make a trade on DeversiFi in order to be able to earn DVF.
Also, DeversiFi's AMMs will be launched with 16 additional incentivized liquidity pairings. Through a governance vote, DeversiFi, along with the DVF Community, selected the inaugural incentivized launch pools, which included a mix of major blue-chip tokens, stablecoin pairings, and NFT as well as DeFi tokens. Some of the more notable pairs include DVF/ETH, CRV/ETH, SUSHI/ETH, COMP/ETH, UNI/ETH, USDC/USDT, and many more.
DeversiFi also recently announced the addition of 'Liquidity Mining' as part of the program. To encourage more users to become LPs (Liquidity Providers) on its platform, all LPs will get extra DVF benefits based on the amount of liquidity they contribute to the platform. Hence, not only are consumers earning a nice APY (Annual Percentage Yield) on their respective assets, but they are also receiving extra DVF, which makes DeversiFi even more attractive.
Furthermore, the DVF DAO (Decentralized Autonomous Organization) controls 50% of the entire DVF supply, with a portion of it originally assigned to liquidity mining as well as trading which is at the DAOs own discretion. After a period of three months, there may be a vote to have the program be continued as it is or to potentially change the parameters. In this way, owning DVF, therefore, gives the users a say in these important decisions. Why DeversiFi? Apart from the abovementioned rewards, there is a fundamental reason as to why so many are actively choosing DeversiFi. The project allows for the successful usage of blockchain technologies to carry out various transactions and send data without having to pay gas fees, which traditionally have been known to be quite high. In this way, congestion can also be avoided.
If you are hence interested in being part of a project that improves scalability as well as continuously offers incentives to its users while simultaneously utilizing programmable blockchain technologies in a meaningful way, then DeversiFi is for you. The decentralized exchange allows everyone to access DeFi on Ethereum (ETH) and invest, trade, buy and sell all kinds of tokens without having to pay gas fees, which makes this project one of the most sought-after nowadays. According to its founder Will Harbone, things are also only going to get better from here on in.
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Covid Variant Spooks Market, Risk-Off Sentiment Drives Bitcoin Below $55K |
Altcoin Dominance Grows Despite Market Shakeout |
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DCentral Miami - Nov 30th - Dec 1st |
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DCentral is where the world converges to celebrate art, fashion, and creatives together with the future of finance.
Over 2 floors and 89,000 square feet of conference space at Miami Airport Conference Centre (MACC). The Venue will have 3 dedicated stages running concurrently throughout the 2 days with Keynotes, Panels, Workshops, & Talks dedicated to Decentralized Finance & NFTs. |
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We at CryptoWeekly are not Financial Advisors. None of the content or opinions expressed in this newsletter should be considered financial advice. We highly recommend that you do your own research before investing in any project within or outside the cryptocurrency space. |
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