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- New Listing, DMC Universe and Whale drama!
New Listing, DMC Universe and Whale drama!
Patrick Hammel
September 11, 2023
In todays edition InTheMarket:
DMC Universe
OpenDAppsCloud nears mainnet launch
DFI price rises by 30%
DFI on Bitmex!
Exciting whale drama on DeFiChain!
Real Yield vs. Inflation
Read time: 4 minutes
Hey,
Welcome to a new edition of the InTheMarket newsletter! There are exciting news and developments in the world of DeFiChain. Let's get started right away!
A long time ago in a galaxy far, far away…
...a new signal has made itself felt in the DMC ecosystem. A mysterious noise, a name that silently echoes through the digital galaxy: "DMC Universe".
Dear DeFi explorers and space pioneers, prepare for a journey that will take you to unknown stars. A project that still keeps in the shadows, but its echo promises something big, something revolutionary.
Who or what is behind this name? Curiosity grows, excitement mounts. With each passing day, we await new clues, new information that will tell us more about this emerging force in the DMC ecosystem.
A project that starts so mysteriously must have great things in mind. The mystery is still unsolved, but we're sure it won't be long before the fog lifts.
Are you ready to explore the unknown? Then follow DMC Universe on Twitter and be part of this exciting new adventure. The universe awaits. The journey of discovery has just begun.
May the Force be with you!
OpenDAppsCloud nears mainnet launch
Update from OpenDAppsCloud
OpenDAppsCloud informs about further significant developments in their project. After successfully testing their token-as-a-service based on the improved code base from the public repositories, the company is approaching the final phase before moving to the main network. Only a few tests remain before the infrastructure comes to the fore.
Release of the OpenDApps Cloud Source Code
It has been officially announced that the source code for OpenDAppsCloud's Smart Contract services will be made public. This move is intended to further build trust with both customers and community members by giving them the opportunity to thoroughly review the code for the services.
The release of the code will be done gradually in several parts and will be divided among three separate repositories. Each repository will have individual parameters related to visibility, licensing, and purpose. Specific details on this structuring and the individual repositories will be provided in the near future.
This move underscores OpenDAppsCloud's commitment to setting industry standards in transparency and integrity. Further information and regular updates on the project can be found on OpenDAppsCloud's official website as well as on their Twitter profile.
DFI on the rise - An impressive 30% increase in just one week!
The last few days have been a real rush of joy for followers of DeFiChain. DFI recorded an increase of 30% in just one week! Although the exact reasons for this sharp increase are difficult to determine, there are strong indications that the recent newest special DFIP had a significant impact on it.
A quick review: The recent Special DeFiChain Improvement Proposal (Special DFIP) offered additional DFI rewards for staking select tokens such as ETH, SOL, DOT, MATIC, and SUI. These incentives will be implemented for a period of 120 days and aim to increase the total value invested (TVL) in DeFiChain.
As of today, these changes officially go live, and we are excited to see how they will continue to shape and impact the DeFiChain ecosystem.
Here's an overview:
It is undoubtedly an exciting time for DeFiChain investors and DeFighters. We will continue to keep you updated!
DFI on Bitmex!
BitMEX will soon introduce the first $DFI perpetual swap. This gives you the opportunity to trade DFI and hedge in USDT, plus you get a 2bps maker rebate on all USDT pairs.
The offer expands the trading opportunities for DFI. As with all trading instruments, it's important that you familiarize yourself with the specific details and risks.
🔗 You can find the full details in the official BitMEX article: here.
🐦 You can read the original announcement tweet here.
Please inform yourself thoroughly before making any trading decisions.
Exciting whale drama on DeFiChain! 🐳
It seems like two large whales in the DeFiChain ecosystem recently had a bit of a standoff. Thanks to a quick analysis by Kügi, we have a better insight into what happened:
In block 3267170, Whale 1 started selling. Was he perhaps trying to trigger a flash crash?
Just two blocks later, in block 3267172, Whale 2 responded with a massive sale of 1 million DFI.
16 blocks later, just 8 minutes after the duel began, Whale 1 appeared to try to get back in - perhaps because the community was buying the dip? He did so in smaller quantities, possibly to avoid attracting attention.
Whale 2 didn't let that stand and responded by buying 11 BTC in block 3267297.
This prompted Whale 1 to exchange another 30 BTC in DFI in blocks 3267305 and 3267310.
Graphic here:
The central message: don't be swayed by the whales' games and arguments. Make your buying and selling decisions based on facts, not price movements or emotions. Stay safe!
🔗Here’s the Original-Tweet
Understanding Real Yield Commission vs. Inflation-based Commission in DeFi:
Real Yield Commission Defined:
In DeFi platforms like DeFiChain, real yield commission means that returns are generated directly from the protocol’s genuine revenue or operational success. When you participate, say, in the dDOT-DFI pool, the 115% APR isn’t a result of freshly minted tokens or artificial means. Instead, it’s a reflection of the protocol’s authentic performance, economic activities, and the inherent value it brings to its users.
Inflation-based Commission Explored:
In contrast, inflation-based commission operates on a model where returns are granted primarily by minting and introducing new tokens into the system. Over time, this can pose challenges. As more tokens saturate the market without a proportional increase in demand or utility, the value of each token might decline. This dilution can lead to uncertainties and might question the long-term sustainability of such returns.
Choosing Real Yield Over Inflation:
Real Yield Commission offers a more robust, reliable, and sustainable model for returns. It’s tethered directly to the platform’s genuine activities and successes. In comparison, inflation-based models, while potentially offering attractive short-term gains, might not guarantee stability in the long run. This distinction is pivotal for investors who prioritize stability and transparency in their DeFi endeavors.
🎧 Dive Deeper with InTheMarket Podcast and YouTube Channel
Want to explore more about DeFiMetachain? Check out our podcast episodes on Spotify and Apple Podcasts, and don't miss our YouTube video where we discuss DMC in detail:
💬Share Your Feedback with Us
That's all for now! Thank you for being with us on this exciting journey. Don't forget to share our DeFiChain newsletter with your friends and colleagues. Let's grow this community together!
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Best regards, Peddy