DeFi

Who needs an exit ramp? Ether.fi plans Visa card for Crypto Degens

Published

8 months ago

2 June, 2024

Who needs an exit ramp? Ether.fi plans Visa card for Crypto Degens

The liquid restoration startup’s newest product Ether.fi could finally help the “paper rich” crypto degens transform their blockchain investments into pocket money.

Ether.fi Cash will be a mobile wallet and Visa credit card that borrows USDC, the popular USD-pegged stablecoin, against its decentralized finance (DeFi) investments and can be repaid directly via crypto.

“Our mission is to create a suite of integrated applications that make DeFi actually usable for normal people,” said Ether.fi founder Mike Silagadze. “Cash is your spending account, the dream is to never have to leave” the blockchain. “Off-ramping” refers to the tedious (and expensive) process of converting between cash and cryptocurrencies.

Today, Ether.fi is the best known as a service to funnel assets to EigenLayer, the Ethereum-based system reprise giant that helps investors secure blockchain services in exchange for rewards. EigenLayer has attracted some $18 billion in deposits over the past year, including more than $5.5 billion from users who initially deposited their money into Ether.fi in exchange for eETH tokens – a sort of receipt on EigenLayer deposits that can be traded on crypto markets like any other asset.

In addition to its “Stake” program, Ether.fi also has a “Liquid” program, where users can deposit their funds into vaults that follow hand-selected trading strategies.

Ether.fi Cash cardholders will be able to borrow funds from their Stake or Liquid deposits and use the interest from these investments to automatically pay their bills. Users can also convert assets directly to USDC, allowing for instant settlement.

With Cash, “you have access once to Ether.fi and then you never have to leave the ramp again because you can save, invest and spend all your money,” Silagadze said. “You can get paid in crypto, and you can just live your life normally without connecting to the TradFi ecosystem. ” Ether.fi aims to offer a crypto-centric rewards program similar to those offered by Chase and other existing card providers. It also aims to differentiate itself from traditional credit cards through its fee structure, which will follow the DeFi market rather than the standard 15-30% APR charged by traditional credit cards.

Cash is not the first attempt at a crypto-based card, but Silagadze insists that previous attempts to create similar products have been “rubbish”.

“Most of them are Visa debit cards,” he explained. “Visa debit cards are useless because you can only use them for hotels and car rentals. You can’t use them for a lot of things. They’re just not practical.”

“This is a real credit card,” Silagadze emphasized.

He expects Cash to be available to consumers from September, but for regulatory reasons it is unlikely to be available in some major markets, notably the United States.

Using cryptocurrencies as cash will always have its unique complexities – from market considerations to tax implications.

“Initially, this is designed for crypto natives,” Silagadze said, “But if someone is thinking about becoming a real degenerate, looking at something like this might make them feel like, ‘Okay, this actually helps me navigate this universe.'”

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DeFi

If You Missed BONK and PEPE This Year, This Viral New Crypto Might Be Your Salvation

Published

6 months ago

29 July, 2024

CoinFlix Staff

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/

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DeFi

Cryptocurrency sector is experiencing ‘most misjudged moment’ since 2020, says venture capitalist Arthur Cheong

Published

6 months ago

29 July, 2024

CoinFlix Staff

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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