DeFi
HTX Ventures – BTCFi and CoreX: pioneers of the future of Bitcoin DeFi
SINGAPORE / ACCESSWIRE / June 21, 2024 / 2024 marks a year of breakthroughs for Bitcoin: BTC ETFs have received approval from US and Hong Kong regulators. Additionally, with the halving completed in May, Bitcoin is moving decisively toward more ambitious goals. On the application side, we have seen ecosystem innovations introduced by Ordinals. Its growing popularity has led to network congestion, bringing Bitcoin’s scalability back to market attention. Over the past few months, the market has seen Bitcoin Layer2 solutions and sidechains flourish, with BTCFi seen as a key sector with vast growth potential.
In the early stages of BTCFi’s development, we noticed Core, a public chain that solves Layer 1 network security, speed, and decentralization issues with innovative solutions. Its Satoshi Plus consensus mechanism leverages the security of the Bitcoin network to provide efficient transaction processing speed (TPS) while maintaining sufficient decentralization (for more details on the Core Chain, see https://docs.coredao.org/core-white-paper-v1.0.7).
We believe that Core Chain provides the best environment for growing BTCFi. As one of the first partners in the Core Chain ecosystem, HTX has strategically invested in CoreX, a decentralized exchange (DEX) built on the blockchain. HTX sees CoreX as the future gateway and liquidity hub of the CoreDAO ecosystem, which will offer a completely new trading experience. This report reviews the design philosophy, features, and strengths of CoreX. HTX believes that CoreX will become one of the most competitive DEXs on CoreDAO and, as an ecosystem booster, will act as a liquidity hub for CoreDAO users.
Why are we bullish on BTCFi?
Bitcoin decentralized finance, or Bitcoin DeFi, or BTCFi, means the introduction of decentralized financial functions into the Bitcoin ecosystem. Bitcoin has long been the blockchain network offering the strongest consensus and security. However, due to its lack of smart contract capabilities, Bitcoin cannot host decentralized applications (dApps) like Ethereum or other public chains and is primarily used for “HODLing”. For Bitcoin holders, experiences like on-chain lending, decentralized trading, and futures trading have largely been lacking.
In early 2024, Ordinals and Runes explored new use cases for the Bitcoin ecosystem, demonstrating market interest in general-purpose features of Bitcoin. However, we believe that Bitcoin’s potential in DeFi is still waiting to be unleashed. Currently, the total value locked (TVL) in BTCFi is close to $1.2 billion, which represents only 0.09% of Bitcoin’s total market cap. In contrast, large public chains with smart contract capabilities have much higher TVL to market cap ratios: 14% for Ethereum, 6% for Solana, and around 3% for Ton. Even with a ratio of 1%, BTCFi has tenfold growth potential.
Image 1: Comparison of TVL/market capitalization ratios and market capitalizations
We believe BTCFi not only unlocks significant value for Bitcoin, but also creates new revenue-generating opportunities for BTC holders. Through BTCFi, holders can do more than just “HODLing”; they can fully utilize their BTC by staking, lending, and market making, among other means. As BTCFi protocols evolve, they are expected to compete with or even surpass existing public chains, fostering a more diverse and robust DeFi ecosystem.
The rise of CoreDAO
There are many solutions to extend the functionality of Bitcoin. Core, a Bitcoin-powered and EVM-compatible Layer1 public chain, stands out as a pioneering approach.
Core ensures its security through a consensus mechanism called Satoshi Plus, which combines delegated proof of work (DPoW), delegated proof of stake (DPoS), and non-custodial Bitcoin staking. First, DPoW leverages Bitcoin’s PoW security, allowing miners to delegate their hash power to main nodes while providing hash power to the Bitcoin network, thereby ensuring consensus security for the main chain. Currently, 46% of Bitcoin nodes are delegated to the Core Chain, providing 259 EH/s of hashing power. Additionally, Core’s security is enhanced by CORE and Bitcoin tokens delegated within its network, with nearly 125 million CORE and 3,000 BTC staked. This hybrid consensus model of POW and DPOS ensures the security of the network while allowing rapid processing of transactions.
Core’s non-custodial staking design is another revolutionary innovation. By eliminating the need to trust centralized custodians, Core allows BTC holders to participate in its consensus and earn staking rewards without losing control of their assets. This significantly reduces the barrier for BTC holders to engage in staking while improving the security of Core. BTC holders do not need to link their assets across chains or convert them to wrapped assets like WBTC. This completely non-custodial mechanism can potentially attract huge BTC holders to participate in core network consensus building.
Looking to the future of CoreDAO, we believe DeFi will be a key focus area for the Core ecosystem. Bitcoin users will be able to engage in lending, futures trading, and other protocols while maintaining their BTC holdings. Innovations may include using Bitcoin as collateral for opening positions and using Bitcoin for liquidity rewards or staking liquidation. Moreover, in addition to staking rewards, liquid staking mechanisms are about to emerge.
What is CoreX?
CoreX, the flagship DEX of the CoreDAO ecosystem, provides users with an exceptional trading environment thanks to its simple yet intelligent design and comprehensive toolkits. Using Uni V3 infrastructure, CoreX addresses key challenges such as liquidity shortages and slippages. Additionally, it integrates AI technology to create a dynamic social trading hub.
How will CoreX create new trading experiences?
CoreX brings a new trading experience to users through its optimized user experience, social features and AI technology. It aims to lower the barriers for new users, allowing them to easily enter the DeFi space.
CoreX significantly enhances the traditional DEX experience by providing a user-friendly trading environment. The platform provides advanced real-time charting tools that allow traders to track price fluctuations of selected tokens. It also integrates technical indicators and drawing tools for deeper analysis. These features are especially useful and user-friendly for traders who want to share their ideas on social media. Additionally, detailed information about each trade, including profits or losses made, is displayed on the trading interface, making important data easy to understand and access. Looking ahead, CoreX plans to introduce customization options that will allow traders to tailor their trading environment using an intuitive drag-and-drop interface to meet their specific needs.
CoreX also takes social trading to a new level. It offers global chat rooms and coin-specific chat rooms where traders can exchange ideas and share trading opportunities with each other. Loyal users have access to individual encrypted messaging and the privilege of creating private chat rooms. Additionally, CoreX integrates social elements into its operations, including offering high yields through staking programs and hosting exclusive online and offline events to recognize and reward NFT holders. The platform will soon launch a massive social airdrop event offering up to 10 million tokens, which has attracted a lot of attention.
Additionally, CoreX provides an intelligent trading assistant that uses machine learning algorithms to recommend trading opportunities based on individual preferences, technical analysis and social media sentiment. It also offers one-click copy trading functionality, allowing users to easily follow the strategies of successful traders. Additionally, by partnering with algorithmic trading companies, the platform enables accurate price predictions, helping users excel in a competitive trading environment.
HTX Ventures strategic investment in CoreX
Crypto traders are always looking for platforms that offer consistent returns and high-quality trading experiences. CoreX prioritizes user experience and uses social and AI technologies to provide a superior and intelligent business environment. This makes it an attractive goal for us. We believe that the emergence of CoreX will take CoreDAO’s DeFi development to the next level. Moving forward, we will remain committed to the CoreDAO ecosystem, leveraging our resources and strengths to drive its growth.
—————————-
About HTX Ventures:
HTX Ventures, the global investment division of HTX, integrates investing, incubation and research to identify the world’s best and brightest teams. With a decade-long history as an industry pioneer, HTX Ventures excels at identifying cutting-edge technologies and emerging business models within the industry. To foster growth within the blockchain ecosystem, we provide comprehensive project support, including funding, resources and strategic advice.
HTX Ventures currently supports over 300 projects spanning multiple blockchain sectors, with select high-quality initiatives already trading on the HTX exchange. Additionally, as one of the most active fund of funds (FOF) investors, HTX Ventures is collaboratively forging the blockchain ecosystem alongside leading global blockchain funds including Dragonfly, Bankless, Gitcoin, Figment and Animoca . Visit us here.
Contact details
Michael Wang
Company Website
https://www.htx.com/en-us/ventures
About HTX Ventures
HTX Ventures, the global investment division of HTX, integrates investing, incubation and research to identify the world’s best and brightest teams.
With a decade-long history as an industry pioneer, HTX Ventures excels at identifying cutting-edge technologies and emerging business models within the industry. To foster growth within the blockchain ecosystem, we provide comprehensive project support, including funding, resources and strategic advice.
HTX Ventures currently supports over 200 projects spanning multiple blockchain sectors, with select high-quality initiatives already trading on the HTX exchange. Additionally, as one of the most vigorous fund of funds (FOF) investors, HTX Ventures is collaboratively forging the blockchain ecosystem alongside leading global blockchain funds including IVC, Shima and Animoca.
Contact details
Michael Wang
Company Website
https://www.htx.com/en-us/ventures
SOURCE: HTX
DeFi
If You Missed BONK and PEPE This Year, This Viral New Crypto Might Be Your Salvation
Bonk and Pepe appear set to net new investors 10x to 100x returns over the next 12 months. However, cryptocurrencies in the DeFi play-to-earn gaming sector could offer even greater returns. As August approaches, Rollblock is emerging as a standout DeFi play-to-earn gem with the potential to 100x-1000x gains in the fourth quarter and beyond.
The project features an innovative revenue sharing model and exceptional accessibility, attracting players and investors. Additionally, Rollblock’s extensive game library of over 150 titles and enhanced sports betting are further driving excitement for the platform. Cryptocurrency analysts are expecting a sudden surge in demand. 800% a push for Rollblock from the beginning of September.
Bonk remains strong despite market fluctuations
While most well-known cryptocurrencies struggled throughout July, Bonk remained strong. As one of the highest-grossing meme cryptocurrencies of 2024, Bonk rose over 24% in July, while most cryptocurrencies experienced negative fluctuations.
Investors looking to add a relatively safe memecoin to their portfolio should consider Bonk. While Bonk is unlikely to generate explosive gains of 250x to 1,000x from here on out, Bonk could still theoretically provide returns in the 20x to 100x range.
Pepe should see a big rise in the next bull run
Alongside Bonk, Pepe has yet to go through a bull run. This means that there are still substantial gains to be made from Pepe over the next 12 months.
Pepe is down 4% in 30 days, but that shouldn’t worry Pepe investors in 2024. Experts believe Pepe’s best days are still ahead, with crypto analysts predicting a 10x to 50x surge in the next election cycle around November.
In the long term, Pepe could surpass the 100x mark for today’s investors. However, Pepe is a memecoin, and one should exercise caution when investing in purely speculative assets that have no utility.
Rollblock’s Unprecedented Hype Potential Could Push It Past 100x Valuation in Q4
Rollblock is a GambleFi Play-to-Earn token that integrates centralized and decentralized gambling on a single platform. By allowing players to earn rewards through active participation and gameplay, the platform creates a compelling incentive structure that appeals to both casual and competitive players.
With its cutting-edge blockchain technology, Rollblock offers top-notch security that keeps bets and transactions on the platform secure. The platform’s lack of KYC mandates appeals to both users who value anonymity and security.
Rollblock’s revenue sharing model, which allocates up to 30% of casino revenue to RBLK token holders, is a major draw for investors. The model involves burning half of the repurchased tokens and distributing the other half to stakers, increasing the token’s value and encouraging long-term investment.
The platform is also constantly evolving thanks to user feedback which has enabled updates such as the upcoming sports betting feature within the platform’s casino. This addition will complement Rollblock’s extensive game library of over 150 titles, ranging from traditional poker to innovative blockchain-based games.
RBLK is expected to emerge as one of the leading DeFi tokens in 2024. With a price of $0.0172 with impressive growth potential and over 140 million tokens sold recently, Rollblock is on track to enter the top 100 cryptocurrencies by Q4, making today a lucrative time to buy RBLK tokens.
Discover the exciting opportunities of the Rollblock (RBLK) presale today!
Website: https://presale.rollblock.io/
Social networks: https://linktr.ee/rollblockcasino
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DeFi
Cryptocurrency sector is experiencing ‘most misjudged moment’ since 2020, says venture capitalist Arthur Cheong
Veteran cryptocurrency investor Arthur Cheong believes the digital asset sector offers long-term holders a golden opportunity.
Cheong, the founder of DeFiance Capital, tell His 171,700 followers on social media platform X indicate that he believes decentralized finance (DeFi) is hugely undervalued.
According to Cheong, DeFi projects are innovating at a rapid pace and leaving traditional financial (TradFi) companies in the dust.
“It’s been a long time since I’ve been this excited about the risk/reward and potential upside of DeFi. This is probably the most misjudged moment since the pre-DeFi summer of 2020, with extremely promising prospects.
I see opportunities not only in OG (original) DeFi, but also in some newer projects that are evolving rapidly and growing at a pace that fintech startups will do anything to match.
The veteran investor also believes that crypto is now here to stay following recent launch from the Ethereum spot market (ETH) exchange-traded funds (ETFs) last week.
“Overall, the floodgates are open and there is no turning back. TradFi asset managers will continue to launch new crypto products because, guess what: there is huge demand for them!”
I expect them to launch actively managed crypto ETFs [in the] coming years. ”
Earlier this month, Cheong laid that it might be a bad strategy for cryptocurrencies to seek mass adoption, believing that digital assets are designed to disrupt several key financial sectors.
“I think we should accept that cryptocurrencies may not be suited for mass adoption like Web2, but rather are optimized for some narrow but very high-impact use cases like stateless global money, cross-border payments, and decentralized finance.
Chasing mass adoption of normies may be chasing the wrong Grail from the start.
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Check Price action
follow us on X, Facebook And Telegram
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Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their own due diligence before making any high-risk investments in Bitcoin, cryptocurrencies or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured image: Shutterstock/ktsdesign
DeFi
Cryptocurrency sector is experiencing ‘most misjudged moment’ since 2020, says venture capitalist Arthur Cheong
Veteran cryptocurrency investor Arthur Cheong believes the digital asset sector offers long-term holders a golden opportunity.
Cheong, the founder of DeFiance Capital, tell His 171,700 followers on social media platform X indicate that he believes decentralized finance (DeFi) is hugely undervalued.
According to Cheong, DeFi projects are innovating at a rapid pace and leaving traditional financial (TradFi) companies in the dust.
“It’s been a long time since I’ve been this excited about the risk/reward and potential upside of DeFi. This is probably the most misjudged moment since the pre-DeFi summer of 2020, with extremely promising prospects.
I see opportunities not only in OG (original) DeFi, but also in some newer projects that are evolving rapidly and growing at a pace that fintech startups will do anything to match.
The veteran investor also believes that crypto is now here to stay following recent launch from the Ethereum spot market (ETH) exchange-traded funds (ETFs) last week.
“Overall, the floodgates are open and there is no turning back. TradFi asset managers will continue to launch new crypto products because, guess what: there is huge demand for them!”
I expect them to launch actively managed crypto ETFs [in the] coming years. ”
Earlier this month, Cheong laid that it might be a bad strategy for cryptocurrencies to seek mass adoption, believing that digital assets are designed to disrupt several key financial sectors.
“I think we should accept that cryptocurrencies may not be suited for mass adoption like Web2, but rather are optimized for some narrow but very high-impact use cases like stateless global money, cross-border payments, and decentralized finance.
Chasing mass adoption of normies may be chasing the wrong Grail from the start.
Don’t miss a thing – Subscribe to receive email alerts directly to your inbox
Check Price action
follow us on X, Facebook And Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their own due diligence before making any high-risk investments in Bitcoin, cryptocurrencies or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured image: Shutterstock/ktsdesign
DeFi
If You Missed BONK and PEPE This Year, This Viral New Crypto Might Be Your Salvation
Bonk and Pepe appear set to net new investors 10x to 100x returns over the next 12 months. However, cryptocurrencies in the DeFi play-to-earn gaming sector could offer even greater returns. As August approaches, Rollblock is emerging as a standout DeFi play-to-earn gem with the potential to 100x-1000x gains in the fourth quarter and beyond.
The project features an innovative revenue sharing model and exceptional accessibility, attracting players and investors. Additionally, Rollblock’s extensive game library of over 150 titles and enhanced sports betting are further driving excitement for the platform. Cryptocurrency analysts are expecting a sudden surge in demand. 800% a push for Rollblock from the beginning of September.
Bonk remains strong despite market fluctuations
While most well-known cryptocurrencies struggled throughout July, Bonk remained strong. As one of the highest-grossing meme cryptocurrencies of 2024, Bonk rose over 24% in July, while most cryptocurrencies experienced negative fluctuations.
Investors looking to add a relatively safe memecoin to their portfolio should consider Bonk. While Bonk is unlikely to generate explosive gains of 250x to 1,000x from here on out, Bonk could still theoretically provide returns in the 20x to 100x range.
Pepe should see a big rise in the next bull run
Alongside Bonk, Pepe has yet to go through a bull run. This means that there are still substantial gains to be made from Pepe over the next 12 months.
Pepe is down 4% in 30 days, but that shouldn’t worry Pepe investors in 2024. Experts believe Pepe’s best days are still ahead, with crypto analysts predicting a 10x to 50x surge in the next election cycle around November.
In the long term, Pepe could surpass the 100x mark for today’s investors. However, Pepe is a memecoin, and one should exercise caution when investing in purely speculative assets that have no utility.
Rollblock’s Unprecedented Hype Potential Could Push It Past 100x Valuation in Q4
Rollblock is a GambleFi Play-to-Earn token that integrates centralized and decentralized gambling on a single platform. By allowing players to earn rewards through active participation and gameplay, the platform creates a compelling incentive structure that appeals to both casual and competitive players.
With its cutting-edge blockchain technology, Rollblock offers top-notch security that keeps bets and transactions on the platform secure. The platform’s lack of KYC mandates appeals to both users who value anonymity and security.
Rollblock’s revenue sharing model, which allocates up to 30% of casino revenue to RBLK token holders, is a major draw for investors. The model involves burning half of the repurchased tokens and distributing the other half to stakers, increasing the token’s value and encouraging long-term investment.
The platform is also constantly evolving thanks to user feedback which has enabled updates such as the upcoming sports betting feature within the platform’s casino. This addition will complement Rollblock’s extensive game library of over 150 titles, ranging from traditional poker to innovative blockchain-based games.
RBLK is expected to emerge as one of the leading DeFi tokens in 2024. With a price of $0.0172 with impressive growth potential and over 140 million tokens sold recently, Rollblock is on track to enter the top 100 cryptocurrencies by Q4, making today a lucrative time to buy RBLK tokens.
Discover the exciting opportunities of the Rollblock (RBLK) presale today!
Website: https://presale.rollblock.io/
Social networks: https://linktr.ee/rollblockcasino
No spam, no lies, only insights. You can unsubscribe at any time.
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