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First of a Kind: The World Stablecoin Summit Takes Place in Decentraland, on Zoom

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Over a dozen of stablecoin projects have come together this week to participate in the first-ever World Stablecoin Summit, which was streamed through multiple platforms, including Decentraland – a virtual reality world running on the Ethereum Blockchain and owned by its users. 

Image Credits: Decentraland, Alex Saunders

(Image Source: Decentraland, Credits: Alex Saunders, Nuggets News)

The event was organized by the recently created, Swiss-based World Stablecoin Association (WSA) and moderated by VirgoX CEO Adam Cai.  Cai and WSA’s co-founder, GDA Capital CEO Michael Gord headlined the event that outlined the key pillars of the WSA: Policy Analysis – to analyze the regulatory landscape of stablecoins around the world alongside research institutions, Advocacy  – to represent enterprises, stablecoin projects and other industry leaders and to expedite “the pro-stablecoin” policy-making around the globe; Partnership – to facilitate member alliances globally, and Education – to provide various learning materials online and arrange conferences and seminars.  

During his opening remarks, Adam Cai explained that the Summit will help unite business leaders, entrepreneurs, community leaders and regulators.  The need for such an organization is now more essential than ever, as the stablecoins’ combined market cap in 2020 reached $12.6B  and daily trading volume $30B+, per CryptoSlate’s data presented at the Summit. 

Michael Gord, who recently became the managing director of the XDB Foundation, shared his analysis of the stablecoin market.  Gord pointed out that not only the total number of stablecoins is rising, but also that some new categories are being created.  Gord described a number of state-backed cryptocurrency initiatives from around the world and focused on Central Bank Digital Currencies (CBDCs) adoption in various regions. 

The majority of speakers at the Summit represented various stablecoin projects, including QCAD, Stably, LODE, TrustToken and a few others. But many were especially interested to hear updates from the heavyweights, such as the largest currency-based stablecoin issuer Tether (USDT).  Tether’s Chief Compliance Officer Leonardo Real said that the company is working directly with primary market participants and focuses on transparency. Representing one of the largest China’s blockchain entities Consensus Lab, founding partner Kevin Ren said his company is fostering crypto growth around the world by supporting various promising startups and coins.  Consensus Lab is currently uniting 16 investment institutions, 6 exchanges and is managing over $1 billion, Ren said.                     

Participants were also greeted by Jean-Marc Seigneur, Director of the Certificate of Advanced Studies (CAS) on Blockchain, DLT and dApps Development at the University of Geneva.  Jean-Marc said that he recently started a Digital Currency Global Initiative together with Stanford University and also encouraged stablecoin projects to submit their use cases to International Telecommunication Union (ITU) focus group on standardization of digital currencies.    

The World Stablecoin Summit has attracted attention of some blockchain enthusiasts around the globe.  Youtube influencer Alex Saunders shared his excitement and called the Summit “a glimpse into the future”. Organizers are planning to hold the event quarterly, while the membership committee will generate monthly research projects and will host weekly roundtables.  Cai said the World Stablecoin Association has offices in Switzerland (Geneva), Canada (Toronto) and USA (NYC) and will onboard many new members in the upcoming months. 

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Altcoins

My Crypto Heroes Announces Issuance of MCH Governance Token

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Tokyo, Japan, 24th November, 2020, // ChainWire //

My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH. 

My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.

What is MCH Coin?

MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.

Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.

The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:

https://medium.com/mycryptoheroes/new-ecosystem-with-mchcoin-en-a6a82494894f

During December 2020 the first governance…

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Rewards Platform StormX Offers 50% Crypto Cashback Bonus for Thanksgiving

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Singapore, Singapore, 23rd November, 2020, // ChainWire //

Blockchain-based rewards platform StormX has released a seasonal promotion for its award-winning Crypto Cash Back App. The promotion will allow app users to earn a 50% bonus on top of their cashback between Thanksgiving Day and Cyber Monday (November 26-30).

StormX has also introduced a brand-new staking service, allowing users to earn an additional 50% per year when they stake STMX tokens. The native ERC20 token of the StormX ecosystem, STMX has a total supply of 10 billion and is available to trade at many of the world’s top exchanges, including Binance and Bittrex.

“With Bitcoin’s price approaching its all-time high, interest in cryptocurrencies has renewed, though some people believe it’s now too expensive to buy in,” said StormX CEO and Co-Founder Simon Yu. “What we have done is create an easy way for such individuals to accumulate bitcoin, ethereum and other cryptocurrencies via everyday shopping.

“We’re also excited to provide users with the ability to earn greater rewards simply by staking their tokens.”

Since the StormX mobile app launched its Shop feature with over 700 stores in February 2020, some 400,000 unique users have been added to the rewards platform. StormX has also witnessed over 50% month-on-month growth for sales. The app is available for download on the App and Google Play Stores, and can be downloaded as a browser add-on from the Chrome Web…

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3 Reasons Why Liquidity Dividends Protocol (LID) Will Be a Huge Winner

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Liquidity Dividends Protocol

Since 2017, cryptocurrency has experienced both the crazy highs and the crazy lows with fortunes being made and lost overnight.  That volatility is one of the main reasons why cryptocurrency has been relatively slow to gain mass adoption.  In addition to volatility, another concern for many is the lack of security and regulation in the market.  This can be seen through the countless exchange hacks and rug pulls that seem to occur on a weekly basis.  In order for cryptocurrency to move into the next stage of maturity and bring on mass adoption, investors and users will need to feel secure knowing that their funds are safe.  One promising organization that may have the perfect solution is Liquidity Dividends Protocol (LID).

What is Liquidity Dividends Protocol?

Liquidity Dividends Protocol is an up and coming organization that provides locked liquidity services to cryptocurrency projects that launch their offerings through ERC-20 tokens.  It lets non-custodial pre-sales lock liquidity of a token in a trustless manner through Uniswap.  This locking process will prevent every investor’s worst nightmare of seeing their hard-earned money disappear through “rug pull” scams that are designed to remove liquidity out of DeFi projects.

This year has seen an explosion of interest in Uniswap and DeFi projects.  Many investors have generated enormous returns on investments, but many have experienced the pain of being duped.  Below are three reasons why LID Protocol is poised to be a massive winner in…

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