Ripple has been securing xRapid partners almost every single week, as well as its native token, XRP keeps hitting major cryptocurrency exchanges. The crypto got listed on Turkey’s fastest growing exchange Koineks just yesterday, and now, an upcoming exchange, FoLex, has decided to list XRP right from its beginning.
You’ve probably never heard about Folex. There’s a good reason for that; it’s not online yet. As we write this, you can see a countdown on their site (folex.io) that is reporting that it will come online in ten days, eight hours and peanuts. So why are we giving them attention?
Because we think it could be a good thing, as they do. Actually, in that same website, you’ll see their current lemma: “A great thing is coming.” If you ask us, that’s a better pitch than “Winter is coming” and, still, everybody is waiting for Game of Throne’s next season.
So what is Folex? Or, instead, what is it going to be?
It will be an exchange founded by thirteen (lucky number if there ever was one) cryptocurrency enthusiasts who have extensive experience in the field. They understand cryptocurrency very well in a way that can only benefit their prospective customer’s needs because they know what they need.
Folex’s staff believes that a trader has the right (and need) to have many assets available for trading, which is why they are committed to providing as many trading pairs as possible, according to the customer’s use and feedback. And Ripple’s XRP has been picked by them precisely on that matric.
This is an exchange designed to work along with blockchain projects directly (owners and communities) so that the exchange’s interface will be simple and easy to use for both experienced crypto enthusiasts and newcomers. They put a lot of emphasis on data protection and security for the customer’s personal data.
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— FoLEx Official (@FolexOfficial) November 4, 2018
The news coming from FoLEx is that they will be listing Ripple’s XRP as a currency to be traded from the very beginning. This has not been the rule. In fact, Ripple has struggled hard to get XRP listed as a currency in exchanges. But they’ve succeeded, and they’re making a lot of progress.
There are reasons for that. Ripple never meant for XRP to be a retail currency that could be traded in exchanges among end users and enthusiasts. It wanted its native token to be a mediating currency used by banks and financial institutions so that international payments could be settled quickly, safely and cheaply through Ripple’s network and platforms.
It’s not yet clear what pairs will be offered against the XRP token or if it will be a base currency at all. Other currencies that will be included at the new exchange include Stratis, Cardano, Monero, Tron, NEM, Steem, Stelar Lumens’ XLM and many others.
Folex is based in Georgia perhaps because the country is more friendly to cryptocurrency enterprises than most others in Europe. It allows for good service and customer anonymity at the same time.
They will use Bitcoin as a base currency at the start, which is more or less the rule for most cryptocurrency exchanges in the world. But who knows? Some other, more established exchanges, have adopted XRP as a base coin recently so Folex could make that choice sooner rather than later.
More coins are being announced as the launch time approaches, according to a countdown a the company’s website. It’s hard to predict which could be the next one as the selection of tokens currently announced is already quite extensive.
We wish Folex all the luck in the world. Good quality exchanges are always welcome into the world’s crypto community.
Consequently, on the back of recent Ripple xRapid partnerships and current as well as upcoming XRP listings news, the cryptocurrency has managed to surge 18% within the last 24 hours. Even though Ethereum is in green today too, but XRP has surprised its competitor for 2nd spot as the cryptocurrency has grabbed the position again as I write this. The blockchain firm seems to be doing everything right at the moment.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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Smart MFG Tech Announces its First Liquidity Mining Rewards Program on LINKSWAP
Manufacturing Industry 4.0 company Smart MFG Tech has announced that it is launching its MFG Liquidity Mining Rewards on LINKSWAP today. LINKSWAP is a decentralized, community-governed Decentralized Exchange (DEX) and an AMM platform, which was created by YF Link (YFL). The team at YF Link says it aims to address “the pain points of second-generation AMMs” by offering such features as Reduced Impermanent Loss, RugLock, SlipLock that are not offered by other platforms.
Smart MFG Tech has said that the first integration of the MFG liquidity mining rewards will use the LINKSWAP LP (Liquidity Provider) Rewards service. It will allow LPs to deposit their LP token(s) (UNI-V2) to the participating rewards pool (ETH|MFG) and earn MFG rewards seamlessly. Smart MFG said it will continue to work with the YF Link team to provide support for other pairs and expand services.
LINKSWAP’s Rewards is a liquidity mining service that enables LPs to earn rewards for providing liquidity in a participating pool. YF Link has implemented a custom frontend solution for Smart MFG LP rewards pool on LINKSWAP. This will allow LPs to add liquidity to Smart MFG’s existing ETH|MFG pool on UniSwap v2 and deposit their LP token(s) (UNI-V2) to their LINKSWAP rewards pool (ETH|MFG).
Smart MFG explained how the rewards can be earned:
“LPs get a share of the transaction fees on Uniswap v2. This is calculated by how much liquidity is provided relative to the percentage…
Building Your Nest Egg Brick By Brick: Are Micro-Investments Here to Stay?
No matter what our goals are, sometimes just getting started can be the most difficult part of building our savings up. When it comes to investing, many of us are wary of parting with our money to generate more financial security in the future. But what if you can build significant savings without even noticing?
That’s the aim of the micro-investing apps that have come to dominate online stores across Android and iOS. Today, more fintech startups are working on delivering refined solutions that encourage minuscule investments at a more frequent rate.
Micro-Investing apps will look to make saving more accessible to young people – many of whom in the UK have little-to-no money tucked away for a rainy day.
However, the prevalence of money-saving technology and the disruptive chaos of the COVID-19 pandemic appears to have prompted a widespread increase in households saving more of their disposable income:
With micro-investing platforms playing a role in bringing UK household savings back up to five-year highs, is it fair to say that little-by-little investing is here to stay? Let’s take a look at how micro-investment platforms could revolutionise how we manage our finances:
What is Micro-Investing
Micro-investing, or sparse change investing, is a relatively new development in fintech. It effectively enables users to put away small amounts of money towards their long, or short, term goals. The idea…
Decentralized Insurance Platform Bridge Mutual to Launch BMI Token on Polkastarter
Bridge Mutual, a decentralized platform that allows users to insure stablecoins, has announced that its native BMI token will be launched on Polkastarter tomorrow, January 30. The Polkadot’s decentralized exchange will host an Initial DEX Offering (IDO) for Bridge Mutual.
“Even the most sophisticated digital asset investors are at risk of losing their funds through various malicious and negligent activities in the blockchain ecosystem. With Bridge Mutual, we believe it doesn’t have to be this way. Using Bridge, people can control the risk exposure of their digital asset investments, just as they do with real-world assets. The Bridge Mutual platform allows people to offer and purchase coverage in a decentralized p2p way. We’re excited kickstart the launch of the BMI ecosystem with a launch on Polkastarter and creating a better way of protecting digital assets for users all over the globe,” Bridge Mutual CEO Mike Miglio said in a statement.
Bridge Mutual allows users to buy and sell insurance for smart contracts, stablecoins and crypto exchanges, peer-to-peer. Users can purchase insurance via the Bridge Mutual app and then file a claim if their digital assets are lost after a hack. “When users lock stablecoins in Bridge Mutual’s coverage pools, those funds are reinvested into popular (and safe) yield generating platforms that return yields to coverage providers. When a claim is approved, stablecoins from the coverage pool goes…