PEPE Coin: Recent Multi-Sig Changes and Price PlungePEPE Coin, a popular meme coin in the cryptocurrency market, recently experienced a significant price plunge and controversy surrounding its multi-sig changes. In this article, we will explore the details of what happened and how it has affected the coin's value. The Multi-Sig ChangesOn a specific date, the developers of PEPE Coin made changes to the multi-signature (multi-sig) wallet associated with the coin. Previously, the wallet required five out of eight signatures to approve transactions. However, the developers altered this requirement to only two out of eight signatures. This change raised concerns among investors and the cryptocurrency community. Reducing the number of signatures required for transaction approval can potentially give the developers more control over the coin's liquidity and raise suspicions of a rug-pull, where developers cash out their holdings and abandon the project. The Price PlungeShortly after the multi-sig changes, PEPE Coin experienced a significant price plunge. The value of the coin dropped by approximately 20%, causing panic among investors. The price drop can be attributed to the controversy surrounding the multi-sig changes and the uncertainty it created among investors. The sudden change in transaction approval requirements raised doubts about the developers' intentions and the future of the coin. Traders Shifting Focus to Sonik CoinAmidst the controversy surrounding PEPE Coin, traders have started shifting their focus to a new meme coin called Sonik Coin. Sonik Coin has gained attention in the cryptocurrency community due to its presale, which is surging towards $500,000. Traders see Sonik Coin as a potential alternative to PEPE Coin, given the uncertainty surrounding the latter. The presale success and the potential for significant returns have attracted investors to Sonik Coin, causing a shift in trading activity. ConclusionThe recent multi-sig changes and price plunge of PEPE Coin have created uncertainty and controversy in the cryptocurrency market. Investors are concerned about the developers' intentions and the future of the coin. Meanwhile, traders are shifting their focus to Sonik Coin, a new meme coin. As with any investment, it is essential to conduct thorough research and exercise caution when investing in meme coins or any other cryptocurrency. The market can be volatile, and it is crucial to stay informed and make educated decisions. The post PEPE Coin: Recent Multi-Sig Changes and Price Plunge appeared first on Fat Pig Signals. https://ift.tt/vxnwfR0
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Aave V3 Goes Live on Base Network: What You Need to KnowAave, one of the leading decentralized finance (DeFi) protocols, has recently announced the deployment of its highly anticipated V3 iteration on the Base network. Base is a Layer 2 blockchain solution backed by Coinbase, providing faster and cheaper transactions while maintaining the security benefits of the Ethereum mainnet. The decision to expand onto the Base network comes at a crucial time for Aave, as it seeks to recover from the aftermath of the recent Curve Finance hack. By launching on Base, Aave aims to restore confidence among liquidity providers and attract new users to its platform. Benefits of Aave V3 on BaseThe deployment of Aave V3 on the Base network brings several benefits to both platforms:
What to Expect from Aave V3 on BaseWith the deployment of Aave V3 on the Base network, users can expect:
Overall, the deployment of Aave V3 on the Base network marks an important milestone for both platforms. It opens up new opportunities for growth, innovation, and collaboration in the DeFi space. Users can look forward to an enhanced user experience, increased liquidity, and a wider range of assets to borrow and lend. As Aave continues to expand its presence and explore new partnerships, it solidifies its position as a leading player in the decentralized finance ecosystem. The deployment on Base is just the beginning of what promises to be an exciting journey for Aave and its users. The post Aave V3 Goes Live on Base Network: What You Need to Know appeared first on Fat Pig Signals. https://ift.tt/sFzRH7X What is EigenLayer? A Guide to ETH Restaking and Its BenefitsEigenLayer is a protocol that enables ETH restaking and extends Ethereum's security to other blockchain systems. It provides developers with the ability to bootstrap new networks without having to create their own communities of network validators. In this guide, we will explore what EigenLayer is, how it works, and the benefits it offers. What is ETH Restaking?ETH restaking is the process of reusing staked Ethereum tokens to secure other blockchain systems. When users stake their ETH on Ethereum, they contribute to the network's security and earn rewards. EigenLayer allows these staked ETH tokens to be repurposed and used as security for other protocols and networks. How Does EigenLayer Work?EigenLayer works by leveraging the pooled security of ETH stakers on Ethereum. It allows developers to access this staked capital base and decentralized validator set, providing them with a trust network to build on. Developers can use EigenLayer to customize their architecture and create innovative mechanisms that were previously impossible. Through EigenLayer's restaking techniques, the security of ETH stakers extends beyond Ethereum to other blockchain systems. This enables developers to bootstrap new networks and protocols without the need to gather their own groups of validators. EigenLayer imposes additional slashing conditions on validators' staked ETH, ensuring the security of the network. The Benefits of EigenLayerEigenLayer offers several benefits to developers and the blockchain ecosystem as a whole:
ConclusionEigenLayer is a protocol that enables ETH restaking and extends Ethereum's security to other blockchain systems. It provides developers with the ability to bootstrap new networks and create innovative mechanisms. By leveraging the pooled security of ETH stakers, EigenLayer offers increased capital efficiency and customization options. It is an exciting development in the blockchain ecosystem that opens up new possibilities for developers and the broader community. The post What is EigenLayer? A Guide to ETH Restaking and Its Benefits appeared first on Fat Pig Signals. https://ift.tt/HBa5S4q LayerZero Chain: An Omnichain Interoperability ProtocolLayerZero Chain is an omnichain interoperability protocol that enables the realization of cross-chain applications with low-level communication primitives. It provides a seamless and secure way to transfer messages and assets between different blockchain networks. Core Features of LayerZero ChainLayerZero Chain offers several core features that make it a powerful solution for cross-chain interoperability:
Supported Chain IDsLayerZero Chain supports a wide range of chain IDs, including:
Use Cases of LayerZero ChainLayerZero Chain has various use cases in the blockchain ecosystem:
LayerZero Chain is revolutionizing cross-chain interoperability by providing a secure and efficient solution for connecting different blockchain networks. With its low-level communication primitives and wide range of supported chain IDs, LayerZero Chain opens up new possibilities for the development of cross-chain applications. Join the omnichain revolution and explore the potential of LayerZero Chain for your blockchain projects. The post LayerZero Chain: An Omnichain Interoperability Protocol appeared first on Fat Pig Signals. https://ift.tt/XQO6sWl What is Base Chain? A Beginner's Guide to Coinbase's L2 NetworkBase Chain is Coinbase's Layer 2 (L2) network built on Ethereum. It aims to provide a secure, low-cost, and developer-friendly environment for building decentralized applications (dApps) on-chain. In this beginner's guide, we'll explore the features, benefits, and how Base Chain differs from other Layer 2 solutions. Features of Base ChainBase Chain offers several key features that make it an attractive option for developers:
How Base Chain Differs from Other Layer 2 SolutionsWhile Base Chain shares similarities with other Layer 2 solutions like Arbitrum and Polygon zkEVM, it has its unique advantages:
What Can You Do on Base Chain?Base Chain offers a wide range of possibilities for users and developers:
Pros and Cons of Base ChainLike any technology, Base Chain has its pros and cons: Pros:
Cons:
ConclusionBase Chain is an exciting addition to the Layer 2 landscape, offering a secure and low-cost solution for building dApps on Ethereum. With Coinbase's backing and commitment to progressive decentralization, Base Chain has the potential to drive adoption and liquidity in the on-chain environment. Whether you're a developer or a user, Base Chain provides opportunities to explore the world of decentralized applications and participate in the growing cryptoeconomy. The post What is Base Chain? A Beginner's Guide to Coinbase's L2 Network appeared first on Fat Pig Signals. https://ift.tt/FucBVUD The Sei Airdrop: How to Participate and Claim Free SEI TokensThe Sei Airdrop is a highly anticipated event in the blockchain community. It offers users the opportunity to claim free SEI tokens, the native cryptocurrency of the Sei Network. In this article, we will guide you through the process of participating in the Sei Airdrop and claiming your free tokens. What is the Sei Airdrop?The Sei Airdrop is a cross-chain airdrop that aims to reward pioneering users of blockchain technology from various ecosystems. It is open to users of popular blockchains such as Solana, Ethereum, Arbitrum, Polygon, Binance Smart Chain, and Osmosis. The airdrop will open for claiming at the Public Mainnet launch of Sei. Eligibility CriteriaTo be eligible for the Sei Airdrop, you must be a whitelisted user who has participated in the Atlantic 2 Testing or the Sei Ambassador Program. The Sei Foundation has worked closely with partners to identify active users on the selected blockchains. Steps to ParticipateHere are the steps to participate in the Sei Airdrop:
Token UtilityThe SEI token has several functions on the Sei Network. It can be used for paying network fees, staking, governance, collateral, tipping validators, and trading fees. The token plays a crucial role in the Sei ecosystem and offers various opportunities for token holders. ConclusionThe Sei Airdrop presents an exciting opportunity for blockchain enthusiasts to claim free SEI tokens. By following the steps outlined in this article, you can participate in the airdrop and become a part of the Sei Network. Don't miss out on this chance to get involved in one of the most promising blockchain projects of the year. The post The Sei Airdrop: How to Participate and Claim Free SEI Tokens appeared first on Fat Pig Signals. https://ift.tt/K8n9cte The financial world is constantly evolving, with emerging technologies like blockchain and cryptocurrencies reshaping the landscape. Among the most exciting developments in this space is the creation of decentralized finance, or DeFi, which offers users an alternative to traditional banking and financial systems. Today, we're going to delve into one of the more recent and potentially impactful innovations within DeFi: Liquid Staking Derivatives. What are Liquid Staking Derivatives? To fully comprehend Liquid Staking Derivatives, let's break it down into its two main components: staking and derivatives. Staking is a process employed in Proof-of-Stake (PoS) and its variations, where users participate in the network's operation and earn rewards by locking up, or 'staking,' their cryptocurrency. However, staking can be illiquid. The staked assets are often locked for a specified period, making them unavailable for other uses. Derivatives, in a financial context, are contracts that derive their value from an underlying asset or group of assets. They are used for various purposes, including hedging against price movements, gaining access to otherwise hard-to-trade assets, and leveraging positions for greater profits. In DeFi, a Liquid Staking Derivative represents a tokenized claim on staked assets. When a user stakes their cryptocurrency, they receive a derivative token in return. This derivative can be freely traded, providing liquidity that the original staked asset lacked. The Significance of Liquid Staking Derivatives Liquid Staking Derivatives solve one of the primary issues related to staking in a PoS system: illiquidity. The freedom to trade these derivatives allows stakers to retain some liquidity while still participating in the network's consensus and earning staking rewards. For instance, Alice stakes 10 Ether (ETH) on the Ethereum network and receives a derivative token, say 'stETH,' representing her staked ETH. She can trade, sell, or use her stETH in other DeFi protocols while still earning staking rewards from her original ETH. This mechanism also opens up exciting possibilities for DeFi as a whole. Staking derivatives can be integrated into existing DeFi protocols, used as collateral for loans, or even incorporated into yield farming strategies. Potential Risks and Challenges Despite the promising benefits, Liquid Staking Derivatives are not without potential risks and challenges. One of the primary concerns is the risk of over-leveraging. The ease of trading these derivatives might lead users to take on positions that are riskier than what they might otherwise have done. Moreover, staking derivatives introduce additional complexity into the DeFi ecosystem. They require robust and secure smart contract infrastructure to ensure they accurately represent the underlying staked assets and their rewards. This complexity might expose new attack vectors for malicious actors, emphasizing the need for thorough audits and security measures. Lastly, regulatory uncertainty remains a significant challenge. As with many areas in the crypto space, the legal status and regulatory framework for staking derivatives are yet to be clearly defined, which could impact their adoption and development. The Future of Liquid Staking Derivatives Liquid Staking Derivatives have the potential to further unlock the value trapped in staked assets, significantly enhancing the liquidity and capital efficiency within the DeFi space. As more PoS protocols emerge, the demand for such solutions will likely increase. In the end, like many innovations in the DeFi space, the success of Liquid Staking Derivatives will depend on a careful balance of innovation, risk management, and regulatory compliance. The promise is certainly there, and it will be fascinating to see how this space evolves in the coming years. The post Understanding Liquid Staking Derivatives: A New Dawn in DeFi appeared first on Fat Pig Signals. https://ift.tt/E83nYmi Utoday: Founder of now-bankrupt exchange wants to start things from scratch, here's how community reacted Sam Bankman-Fried, who co-founded major exchange FTX which he recently declared insolvent, has taken to Twitter to tell the community that he would like to start his business all over again. He plans to compensate losses to customers first and, after that, to take care of investors. Two major figures in the crypto industry responded to his shoutout — Kim Dotcom and the Dogecoin co-creator — but their reaction was totally different. List of SBF's goals as he says he wants fresh startFormer billionaire and investor Sam Bankman-Fried tweeted that his goal, above all others, is to reimburse FTX customers, who lost their funds. To do that, he tweeted, he is meeting with regulators and "working with teams to do what we can for customers." Then, according to another tweet in the thread, SBF wants to "clean up and focus on transparency." He reminded the audience that as early as just a few weeks ago, his exchange demonstrated roughly $10 billion of trading volume per day and handled billions of transactions. The main problem, according to him, was "too much leverage" — a lot more than he realized there was. "Raise liquidity, make customers whole, and restart"What Bankman-Fried wants to try and do now is restart his business after raising liquidity and reimbursing customers for their losses. Despite his recent failure, he tweeted that he feels that he "might get somewhere." Kim Dotcom and DOGE co-founder respondProminent entrepreneur and hacker Kim Dotcom, along with DOGE creator Billy Markus, responded to that thread by Bankman-Fried. Dotcom, it seems, wants SBF to try and earn his second chance from the crypto community. He suggested that SBF take part in his online event that he referred to as "our FTX space," which will take place seven hours from now and answer questions of, perhaps, him and his audience from the crypto community. Kim Dotcom stated that if he wants a second chance, SBF should compensate customers and be honest with the crypto community. In that case, they might be willing to start trusting him again.
The post SBF Says He Wants to Raise Liquidity and Restart Business appeared first on Fat Pig Signals. https://ift.tt/JtOswTd Utoday: Binance CEO Changpeng Zhao has confirmed rumors about the company’s decision to liquidate its FTT holdings amid speculation about Alameda’s financial health. Binance CEO Changpeng Zhao recently took to Twitter to announce that the company had decided to sell all of its FTX (FTT) tokens due to “recent revelations that came to light.” The announcement confirms the rumors that started circulating earlier today. Zhao says that the sale will take a few months due to limited liquidity, claiming that Binance will attempt to minimize the market impact. The Binance boss has stressed that it is not a move against its main competitor. The exchange received $2.1 billion worth of Binance USD (BUSD) and FTT after selling its stake in rival FTX last year. The announcement comes a few days after rumors about Alameda Research’s financial troubles. The trading firm, which has very close ties to FTX, has immense exposure to the FTT token, according to a recent report by a cryptocurrency media outlet. Alameda Research CEO Caroline Ellison claims that FTX has an additional $10 billion of assets that are not listed. Moreover, she claims Alameda Research has paid off its loans since July. In a follow-up tweet, Ellison claims that Alameda will “happily buy” Binance’s FTT tokens at $22 if the exchange wants to minimize the market impact. The FTT price collapsed more than 11% following Zhao’s announcement, but it then managed to pare its losses in less than an hour. As reported by U.Today, Sam Trabucco stepped down as co-CEO of Alameda in late August, with Ellison becoming the firm’s sole CEO.
The post Binance Is Selling All FTX (FTT) Tokens appeared first on Fat Pig Signals. https://ift.tt/q9YMIXz According to an announcement on the Robinhood Twitter handle, DeFi token AAVE has been listed by the stock brokerage giant. A cryptocurrency listing bot indicates the listing of AAVE, which was done alongside that of Tezos (XTZ). Both coins now show up on the official Robinhood website. AAVE is the native asset of Aave, a decentralized finance protocol that allows people to lend and borrow crypto. Aave's price is up 5% on the news. At the time of publication, AAVE is changing hands at $86.59, up 10.57% in the past seven days. Last month, Robinhood announced the listing of the second largest stablecoin by market capitalization, USD Coin (USDC). Robinhood supports 19 cryptocurrencies in total — this list includes Bitcoin, Ethereum, Litecoin, ADA, Dogecoin, USDC and Solana, with USDC being the first stablecoin listed by the stock brokerage app. Robinhood added the meme cryptocurrency, Shiba Inu (SHIB), in April, after a petition to list the token surpassed half a million signatures. The stock brokerage giant also enabled support for Polygon (MATIC), Solana (SOL) and Compound (COMP) that month. In late June, Robinhood listed Chainlink (LINK), a decentralized blockchain oracle network built on Ethereum, subsequently listing Stellar (XLM), Avalanche (AVAX) and Uniswap (UNI).
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