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Injective Protocol, a prominent blockchain platform catering to decentralized applications (dApps), has recently gained significant attention due to the notable surge in the price of its native token, injective (INJ). Over the past week, the INJ token has experienced a remarkable growth rate of 23%. 
This surge reflects the growing market interest in the platform and underscores the utility and governance features associated with the INJ token. Serving as a dual-purpose instrument, the INJ token empowers users by offering them utility within the platform while granting them a say in shaping its future through governance mechanisms. 
What’s The Cause Of The Spike?
At the time of writing, the price of INJ stands at $7.83, experiencing a minor 0.9% decline within the day. However, over the course of the week, INJ has demonstrated a commendable increase of 23%. This surge in price is coupled with a circulating supply of $100 million, contributing to the platform’s liquidity and overall market dynamics. The positive market sentiment and a high Total Value Locked (TVL) have been identified as key factors driving the recent price boom for Injective (INJ).
Related Reading: Celsius Sets New Standard: $1 Billion In ETH Staked As Deposits Show No Sign Of Slowing
Exciting developments lie ahead for Injective as it reveals its plans to revamp its proof-of-stake (PoS) delegation mechanism through the Avalon upgrade. This upgrade will introduce an advanced system, incorporating sub-second block times and layer-1 scalability optimizations. By leveraging the Avalon upgrade, Injective (INJ) aims to enhance transaction speed and efficiency, promising a more seamless user experience on the platform.

The impressive growth of Injective (INJ) and its commitment to innovation through the Avalon upgrade position the project as a notable player in the blockchain industry. With a positive market outlook and advancements on the horizon, Injective (INJ) continues to captivate investors and enthusiasts alike.
What’s Next For Injective (INJ)?
Injective (INJ) is gearing up to revolutionize its decentralized exchange (DEX) by introducing the Avalon upgrade, which promises to deliver improved performance, scalability, and an enhanced user experience. This upgrade is expected to positively impact the price of Injective (INJ), according to analysts who suggest a potential bullish sentiment for the token.
With the Avalon upgrade, Injective (INJ) aims to elevate its DEX to new heights, offering faster and more efficient transactions. Implementing sub-second block times and layer-1 scalability optimizations is poised to attract more users to the platform and drive increased demand for the token.
Related Reading: Floki Inu Gains Momentum As Chinese E-Commerce Giant Recognizes Its Utility
The market outlook for Injective (INJ) appears promising, with analysts predicting a potential price increase. Speculations suggest that the price of INJ could reach $9.74 by the end of 2023, reflecting a bullish sentiment among investors and signaling confidence in the platform’s future growth.
As Injective (INJ) prepares to unlock the full potential of its decentralized exchange with the Avalon upgrade, traders and enthusiasts eagerly anticipate the enhanced performance and scalability it will bring. With positive market predictions, the future looks bright for Injective (INJ) as it aims to solidify its position as a leading player in the blockchain ecosystem.
-Featured image from iStock.com and charts from TradingView.com


Injective Protocol, a prominent blockchain platform catering to decentralized applications (dApps), has recently gained significant attention due to the notable surge in the price of its native token, injective (INJ). Over the past week, the INJ token has experienced a remarkable growth rate of 2...

newsbtc.com

Injective Protocol (INJ) Tallies 23% Price Surge In Past 7 Days – Here’s Why


June 1, 2023 – San Francisco, California


With BRC-30, OKX Wallet users will soon be able to stake BRC-20 tokens and Bitcoin to earn passive income on their digital assets.

OKX, a leading Web 3.0 company, today introduced its proposal for a new open-source BRC-30 protocol that enables staking of BRC-20 tokens and Bitcoin in order to earn BRC-30 tokens.
The protocol is open-source and available for all developers to build upon.
OKX Wallet will add support for the BRC-30 standard according to the protocol, enabling users to earn passive income by staking BRC-20 tokens or Bitcoin on Web 3.0 Earn without actively trading.
This complements the existing range of curated DeFi earning products already available through the platform.
The introduction of BRC-30 and its staking functionalities is driven by OKX’s goal to provide users with additional opportunities to participate in the Bitcoin ecosystem and earn passive income.
Jason Lau, chief innovation officer at OKX, said,
“We’re thrilled to have proposed and pioneered the BRC-30 standard to enable Bitcoin and BRC-20 token staking. With the OKX Wallet soon to incorporate BRC-30 support, users will be able to access Bitcoin staking and earn opportunities across multiple chains.
“With the Bitcoin ecosystem seeing an explosion of new development, we’re proud to work with developers and projects across the community to contribute to the growth of the wider ecosystem.”
OKX is a longstanding supporter of Bitcoin, having integrated the Lightning Network to its centralized exchange over two years ago.
OKX Wallet is also the first multi-chain wallet to support BRC-20 trading with the launch of its Ordinals Marketplace, as well as the viewing and transfer of Bitcoin Ordinals.
About OKX
A leading global technology company driving the future of Web 3.0, OKX provides a comprehensive suite of products to meet the needs of beginners and experts alike, including the OKX Wallet, NFT marketplace, DEX and Web 3.0 Earn.
OKX partners with a number of the world’s top brands and athletes, including English Premier League champions Manchester City F.C., McLaren Formula One, The Tribeca Festival, golfer Ian Poulter, Olympian Scotty James and F1 driver Daniel Ricciardo.
As a leader in building innovative technology products, OKX believes in challenging the status quo.
The company recently launched a global brand campaign entitled, ‘The System Needs a Rewrite,’ which advocates for a new paradigm led by Web 3.0 self-managed technology to replace existing centralized systems.
To learn more about OKX, download our app or visit the website.
Disclaimer
This announcement is provided for informational purposes only. It is not intended to provide any investment, tax or legal advice, nor should it be considered an offer to purchase, sell or hold digital assets.
Digital assets, including stablecoins, involve a high degree of risk, can fluctuate greatly and can even become worthless. OKX is not regulated by the FCA – thus, protections such as the Financial Ombudsman Service or Financial Services Compensation Scheme will not be available.
You should consider whether you understand how crypto works and whether trading or holding digital assets is suitable for you in light of your financial condition.
The value of your digital assets, including stablecoins, can increase or decrease, and profits may be subject to capital gains tax.
Past performance does not indicate future results. Please consult your legal/tax/investment professional for questions about your specific circumstances.
Contact
OKX
This content is sponsored and should be regarded as promotional material. Opinions and statements expressed herein are those of the author and do not reflect the opinions of The Daily Hodl. The Daily Hodl is not a subsidiary of or owned by any ICOs, blockchain startups or companies that advertise on our platform. Investors should do their due diligence before making any high-risk investments in any ICOs, blockchain startups or cryptocurrencies. Please be advised that your investments are at your own risk, and any losses you may incur are your responsibility.

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The post OKX Proposes Industry-First BRC-30 Token Standard To Enable Bitcoin and BRC-20 Token Staking appeared first on The Daily Hodl.


June 1, 2023 – San Francisco, California With BRC-30, OKX Wallet users will soon be able to stake BRC-20 tokens and Bitcoin to earn passive income on their digital assets. OKX, a leading Web 3.0 company, today introduced its proposal for a new open-source BRC-30 protocol that enables staking of B...

dailyhodl.com

OKX Proposes Industry-First BRC-30 Token Standard To Enable Bitcoin and BRC-20 Token Staking

[PRESS RELEASE – SAN FRANCISCO, UNITED STATES, June 1st, 2023]

With BRC-30, OKX Wallet users will soon be able to stake BRC-20 tokens and Bitcoin to earn passive income on their digital assets

OKX, a leading Web3 company, today introduced its proposal for a new, open-source BRC-30 protocol that enables the staking of BRC-20 tokens and Bitcoin in order to earn BRC-30 tokens. The protocol is open-source and available for all developers to build upon.
OKX Wallet will add support for the BRC-30 standard according to the protocol, enabling users to earn passive income by staking BRC-20 tokens or Bitcoin on Web3 Earn without actively trading. This complements the existing range of curated DeFi earning products already available through the platform.
The introduction of BRC-30 and its staking functionalities is driven by OKX’s goal to provide users with additional opportunities to participate in the Bitcoin ecosystem and earn passive income.
OKX Chief Innovation Officer Jason Lau said: “We’re thrilled to have proposed and pioneered the BRC-30 standard to enable Bitcoin and BRC-20 token staking. With the OKX Wallet soon to incorporate BRC-30 support, users will be able to access Bitcoin staking and earn opportunities across multiple-chains. With the Bitcoin ecosystem seeing an explosion of new development, we’re proud to work with developers and projects across the community to contribute to the growth of the wider ecosystem.”
OKX is a longstanding supporter of Bitcoin, having integrated the Lightning Network to its centralized exchange over two years ago. OKX Wallet is also the first multi-chain wallet to support BRC-20 trading with the launch of its Ordinals Marketplace, as well as the viewing and transfer of Bitcoin Ordinals.
About OKX
A leading global technology company driving the future of Web3, OKX provides a comprehensive suite of products to meet the needs of beginners and experts alike, including the OKX Wallet, NFT Marketplace, DEX and Web3 Earn.
OKX partners with a number of the world’s top brands and athletes, including English Premier League champions Manchester City F.C., McLaren Formula 1, The Tribeca Festival, golfer Ian Poulter, Olympian Scotty James, and F1 driver Daniel Ricciardo.
As a leader in building innovative technology products, OKX believes in challenging the status quo. The company recently launched a global brand campaign entitled, The System Needs a Rewrite, which advocates for a new paradigm led by Web3 self-managed technology to replace existing centralized systems.
To learn more about OKX, download our app or visit: okx.com
Disclaimer
THIS ANNOUNCEMENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY. IT IS NOT INTENDED TO PROVIDE ANY INVESTMENT, TAX, OR LEGAL ADVICE, NOR SHOULD IT BE CONSIDERED AN OFFER TO PURCHASE, SELL, OR HOLD DIGITAL ASSETS. DIGITAL ASSETS, INCLUDING STABLECOINS, INVOLVE A HIGH DEGREE OF RISK, CAN FLUCTUATE GREATLY, AND CAN EVEN BECOME WORTHLESS. OKX IS NOT REGULATED BY THE FCA, THUS, PROTECTIONS SUCH AS THE FINANCIAL OMBUDSMAN SERVICE OR FINANCIAL SERVICES COMPENSATION SCHEME WILL NOT BE AVAILABLE. YOU SHOULD CONSIDER WHETHER YOU UNDERSTAND HOW CRYPTO WORKS AND WHETHER TRADING OR HOLDING DIGITAL ASSETS IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. THE VALUE OF YOUR DIGITAL ASSETS, INCLUDING STABLECOINS, CAN INCREASE OR DECREASE AND PROFITS MAY BE SUBJECT TO CAPITAL GAINS TAX. PAST PERFORMANCE DOES NOT INDICATE FUTURE RESULTS. OKX IS NOT ASSOCIATED WITH ANY PARTICULAR DEFI PROTOCOL, MAKES NO WARRANTIES, REPRESENTATIONS OR UNDERTAKINGS RELATING TO ANY DEFI PROTOCOL’S OFFERINGS, AND IS NOT RESPONSIBLE OR LIABLE FOR ANY DIRECT OR INDIRECT LOSS OR OTHER DAMAGE ARISING FROM YOUR USE OF ANY DEFI PROTOCOL. OKX WALLET IS AN AGGREGATOR; ALL DISPLAYED ESTIMATED RETURN RATES ARE PROVIDED BY THE DEFI PROTOCOL, AND ARE NOT GUARANTEED NOR INDICATIVE OF FUTURE RETURNS. PLEASE CONDUCT YOUR OWN DUE DILIGENCE BEFORE INVESTING IN ANY DEFI PROTOCOL. PLEASE CONSULT YOUR LEGAL/TAX/INVESTMENT PROFESSIONAL FOR QUESTIONS ABOUT YOUR SPECIFIC CIRCUMSTANCES.
The post OKX Proposes Industry-First BRC-30 Token Standard to Enable Bitcoin and BRC-20 Token Staking appeared first on CryptoPotato.

[PRESS RELEASE &#8211; SAN FRANCISCO, UNITED STATES, June 1st, 2023] With BRC-30, OKX Wallet users will soon be able to stake BRC-20 tokens and Bitcoin to earn passive income on their digital assets OKX, a leading Web3 company, today introduced its proposal for a new, open-source BRC-30 protocol ...

cryptopotato.com

OKX Proposes Industry-First BRC-30 Token Standard to Enable Bitcoin and BRC-20 Token Staking


Jimbos Protocol, the victim of a $7.5 million hack, has announced an $800,000 bounty program to catch the hackers.



In some decentralized finance (DeFi) hack cases, there is a settlement between the hackers and the project. In such settlements, the hackers return a major portion of the cash while keeping the remaining as a bug bounty.



Jimbos Protocol Seeks Help of Law Enforcement



After the hack on Sunday, Jimbos Protocol gave an ultimatum to the hacker to return funds by 16:00 UTC Monday. But there has been no response from the hackers as yet.



Then, on Wednesday, the DeFi project announced the involvement of law enforcement agencies like the Department of Homeland Security to track the hacker. It wrote a message for the hacker on Twitter:




“To the attacker: We warned you. We’d prefer giving you the bounty, so we can focus on our protocol. Instead, we will deal with law enforcement to find you.”




Even on Monday, Jimbos Protocol has urged the hacker to “keep a fast $800k payday and live to tell the tale.”



To escalate the investigation, the project also extended the $800,000 bounty to community members who can track the exploiters and bring back the funds.



Jimbos, a liquidity protocol based on the Arbitrum chain, lost 4,090 Ethereum (ETH) due to a lack of slippage control of liquidity-shifting operations.



Due to the hack, the community criticized the idea of an Oracle-less project. Some even reacted with memes to Jimbos Protocol’s Twitter threads.



Source: Twitter



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The post Jimbos Protocol Announces $800K Reward to Catch Exploiter appeared first on BeInCrypto.


Jimbos Protocol extended a reward of $800,000  to individuals within the community who successfully trace the hackers and recover the funds from them.
The post Jimbos Protocol Announces $800K Reward to Catch Exploiter appeared first on BeInCrypto.


beincrypto.com

Jimbos Protocol Announces $800K Reward to Catch Exploiter

The German telecommunications firm looks to leverage its infrastructure in Web3, plugging in as a network validator for Ethereum scaling protocol Polygon. 

cointelegraph.com

Germany's Deutsche Telekom plugs in as Polygon validator

MakerDAO, a decentralized money market on Ethereum for users to borrow and lend assets, including ETH, spends $27.66 million annually to keep the protocol running, DeFiLlama data on May 31 shows.
This sum of money is utilized to cover expenses such as taking care of the 97 individuals responsible for maintaining the lending and borrowing protocol and ensuring that the code operates smoothly without any issues.
MakerDAO Has Big Expenses
As of May 31, MakerDAO had spent slightly over $10.6 million in DAI to meet mounting expenses in 2023 alone. DAI is the algorithmic stablecoin minted and managed by MakerDAO, tracking the value of the USD. 

It differs from other popular fiat-pegged stablecoins like the USDT or BUSD, minted by a centralized entity demanding each token in circulation to be backed by an equal amount of fiat currency, primarily the USD.

Thus far, $10.6 million in DAI has been spent. Of this amount, 2,048,873 DAI was allocated for Protocol Engineering, and 15% of the total expenses were used for Sustainable Ecosystem Scaling.
385,875 DAI has been used for strategic finance, 537,448 DAI for growth, and 811,704 DAI for Oracles. Another 903,459 DAI has gone to developing and improving the user interface.
Employees get remunerations and other benefits from funds allocated to the Protocol Engineering Unit. The current monthly budget is 624,165 DAI and is forecasted to drop to 475,089.13 DAI. 
Specifically, MakerDAO has approved 396,895.13 DAI monthly for employee compensation and benefits. Only 2,072 DAI has been consumed by travel and other entertainment. 
However, besides expenditure on employee salaries and additional benefits, the DAO approved 75,250 DAI as payment for professional services.
The Protocol Engineering Unit doesn’t work with an external auditor. For transparency, they must submit an Expense Report for the MakerDAO community to assess and approve monthly. 
Under “Development and User Interface,” software expenses have notably increased, exceeding the forecasted amount. In the last month, MakerDAO spent 8,635.78 DAI to keep their servers at Amazon Web Services operation, exceeding the budget by 2,976.68 DAI.
LidoDAO Requires $16.81 Million Every Year
Funds used to keep MakerDAO running is roughly $10 million more than what’s required to maintain Aave and Lido. Data shows that Aave and Lido need $19.2m and $16.81m operational. 
The difference could be because of headcount since MakerDAO has 97 recognized employees while Lido has 83. Aave employee headcount remains private.

Still, Lido, a staking liquidity protocol, is the largest DeFi protocol by total value locked (TVL). As of May 31, LidoDAO had a TVL of $13.13 billion, twice that of MakerDAO, and nearly triple the TVL of Aave, which stood at $5.33 billion.



MakerDAO, a decentralized money market on Ethereum for users to borrow and lend assets, including ETH, spends $27.66 million annually to keep the protocol running, DeFiLlama data on May 31 shows. This sum of money is utilized to cover expenses such as taking care of the 97 individuals responsible...

bitcoinist.com

MakerDAO Is The Most Expensive DeFi Protocol To Run, Requires Millions

Storj, a decentralized cloud storage provider, has partnered with zkSync Era, a layer-2 protocol on Ethereum, to enhance decentralized storage payments.
Storj Partners With zkSync Era
The partnership aims to leverage zkSync Era’s zero-knowledge roll-up technology by integrating it into a cloud storage platform, optimizing transaction speed, reducing gas fees, and improving the payment process’s overall efficiency.
Storj is a decentralized cloud storage solution compatible with the Ethereum Virtual Machine (EVM). As a cloud solution, It offers its users a customizable storage experience tailored to their needs. Storj’s client base includes Pocket Network, Atempo, iXsystems, Gabb Wireless, and the University of Edinburgh.
With the current frenzy in the crypto space to develop roll-up upgrades, the cloud platform plans to upgrade its platforms and services by collaborating with zkSync Era, harnessing the benefits of zero-knowledge proofs, and enhancing scalability and efficiency in a decentralized manner.

As a layer-2 scaling protocol on Ethereum, zkSync Era introduced the zero-knowledge approach, which allows consolidating multiple transactions into a compressed data block. This allowed the project to achieve greater speed, less cost, and more throughput over the Ethereum mainnet.
As part of the development, the decentralized cloud provider would maintain two open-source libraries that would facilitate the seamless onboarding of users to the zkSync Era network.
These additional libraries are Crypto-Batch-Payment and Storjscan. It would also enhance the capacity of decentralized storage payments to be EVM-compatible, providing users with more flexible, decentralized options.
Enhancing Adoption And Scalability
Commenting about the partnership,  Ben Golub, CEO of Storj, expressed his satisfaction with the adoption of zkSync, saying:
The adoption of zkSync has been strong, and we are committed to supporting the zkSync Era developer ecosystem with our open-source tools. Zero-knowledge roll-ups means that Storj can provide users and our community of nodes with an optimal transaction experience while continuing to lead as a trailblazer in the field of decentralized infrastructure technologies.

Matter Labs, the team responsible for the development of zkSync, also commented on the collaboration. Marco Cora, the Head of Business Development at Matter Labs, said:
 It’s exciting to see projects like Storj improve the overall scalability of their network for decentralized applications by bringing fast, secure, and more affordable decentralized storage to more people worldwide by integrating with zkSync Era.
Despite this announcement, STORJ prices remain under pressure.

It is down 3.5% in the last trading day, changing hands at $0.29.



Storj, a decentralized cloud storage provider, has partnered with zkSync Era, a layer-2 protocol on Ethereum, to enhance decentralized storage payments. Storj Partners With zkSync Era The partnership aims to leverage zkSync Era&#8217;s zero-knowledge roll-up technology by integrating it into a cl...

Storj and zkSync Era Partner to Improve Decentralized Storage Payments


May 31, 2023 – London, United Kingdom


Marking a seismic shift in the digital asset landscape, DeFi platform Bumper today unveiled the findings of their comprehensive simulation, exhibiting new pricing efficiencies over traditional options desks ahead of the protocol launch in August 2023.

This report delineates a milestone in financial technology, showcasing an altogether new financial instrument that consistently outperforms existing options desks in generating both competitive premia and sustainable yields, backtested against genuine, multi-year historical cryptocurrency market data and options prices.
The report is the culmination of a two-year exercise in research and development powered by a $20 million investment and derived in collaboration with CADLabs and the Swiss Centre for Cryptoeconomics.
Key highlights from the simulation report

On average, Bumper takers paid 9.3% cheaper premia than buyers of traditional put options.
During the 2022 bear market, Bumper’s simulation showed a yield improvement of 46.2% for makers compared to options pricing – without resorting to token incentives.
The protocol remained solvent throughout the simulated conditions.
Despite having different inputs and methodology, Bumper’s results reveal a remarkable correlation with the Nobel Prize-winning Black-Scholes model.

These results have been pivotal in understanding and honing the resilience of the Bumper protocol across diverse market conditions.
On the release of the report, Jonathan DeCarteret, CEO of Bumper, said,
“By challenging and potentially reshaping the accepted norms of options pricing, Bumper stands to revolutionize not just the crypto options market – but also has the potential to penetrate traditional finance and disrupt the colossal $13 trillion derivatives market in the future.”
The report underscores the anticipated outcomes of Bumper’s dynamic pricing, based on forward volatility rather than the usual implied volatility.
The findings of the simulation report positions Bumper as an immensely appealing prospect for institutions and fund managers – in addition to retail crypto investors.
The economic simulation report released today marks the most significant validation of Bumper’s innovative approach to date and signals what could be one of the most substantial challenges to the Black-Scholes derived pricing in half a century.
Read Bumper’s simulation report here, and for more information on the protocol, visit the website.
About Bumper
Bumper is a DeFi risk market that provides protection from downside volatility in the price of crypto assets.
Users buying protection (takers) set a price at which they wish to protect their crypto should the price fall, but they don’t lose out if the market heads upwards.
Conversely, other users (makers) earn a yield by providing stablecoin liquidity to the protocol.
Learn more about Bumper
Website | Twitter | Discord | YouTube
Contact
Jason Suttie, CMO of Bumper
This content is sponsored and should be regarded as promotional material. Opinions and statements expressed herein are those of the author and do not reflect the opinions of The Daily Hodl. The Daily Hodl is not a subsidiary of or owned by any ICOs, blockchain startups or companies that advertise on our platform. Investors should do their due diligence before making any high-risk investments in any ICOs, blockchain startups or cryptocurrencies. Please be advised that your investments are at your own risk, and any losses you may incur are your responsibility.

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The post Bumper’s Breakthrough DeFi Protocol Set To Reshape Options Pricing appeared first on The Daily Hodl.


May 31, 2023 – London, United Kingdom Marking a seismic shift in the digital asset landscape, DeFi platform Bumper today unveiled the findings of their comprehensive simulation, exhibiting new pricing efficiencies over traditional options desks ahead of the protocol launch in August 2023. This re...

Bumper’s Breakthrough DeFi Protocol Set To Reshape Options Pricing

[PRESS RELEASE – London, United Kingdom, May 31st, 2023]
Marking a seismic shift in the digital asset landscape, DeFi platform Bumper today unveiled the findings of their comprehensive simulation, exhibiting new pricing efficiencies over traditional options desks ahead of the protocol launch in August 2023.
This report delineates a milestone in financial technology, showcasing an altogether new financial instrument that consistently outperforms existing options desks in generating both competitive premia and sustainable yields, backtested against genuine, multi-year historical cryptocurrency market data and options prices.
The report is the culmination of a two-year exercise in Research and Development powered by a $20m investment and derived in collaboration with CADLabs and the Swiss Centre for Cryptoeconomics.
Key highlights from the simulation report:

On average, Bumper Takers paid 9.3% cheaper premia than buyers of traditional put options.
During the 2022 bear market, Bumper’s simulation showed a yield improvement of 46.2% for Makers compared to options pricing without resorting to token incentives.
The protocol remained solvent throughout the simulated conditions.
Despite having different inputs and methodology, Bumper’s results reveal a remarkable correlation with the Nobel Prize-winning Black-Scholes model.

These results have been pivotal in understanding and honing the resilience of the Bumper protocol across diverse market conditions.
On the release of the report, Bumper CEO Jonathan DeCarteret expressed, “By challenging and potentially reshaping the accepted norms of options pricing, Bumper stands to revolutionise not just the crypto options market, but also has the potential to penetrate traditional finance and disrupt the colossal $13T derivatives market in the future.”
The report underscores the anticipated outcomes of Bumper’s dynamic pricing, based on forward volatility rather than the usual implied volatility.
The findings of the simulation report position Bumper as an immensely appealing prospect for institutions and fund managers, in addition to retail crypto investors.
The economic simulation report released today marks the most significant validation of Bumper’s innovative approach to date and signals what could be one of the most substantial challenges to the Black-Scholes derived pricing in half a century.
Read Bumper’s simulation report here, and for more information on the protocol, visit https://bumper.fi.
About Bumper
Bumper is a DeFi risk market that provides protection from downside volatility in the price of crypto assets. Users buying protection (Takers) set a price at which they wish to protect their crypto should the price fall, but they don’t lose out if the market heads upwards. Conversely, other users (Makers) earn a yield by providing stablecoin liquidity to the protocol.
The post Bumper’s Breakthrough DeFi Protocol Set to Reshape Options Pricing appeared first on CryptoPotato.

[PRESS RELEASE &#8211; London, United Kingdom, May 31st, 2023] Marking a seismic shift in the digital asset landscape, DeFi platform Bumper today unveiled the findings of their comprehensive simulation, exhibiting new pricing efficiencies over traditional options desks ahead of the protocol launc...

Bumper’s Breakthrough DeFi Protocol Set to Reshape Options Pricing

A crypto strategist who nailed Bitcoin’s (BTC) bear market bottom in 2018 says he has his radar locked on two low-cap altcoins.
Pseudonymous crypto analyst Bluntz tells his 223,100 Twitter followers that the blockchain-indexing protocol The Graph (GRT) appears to be mirroring Bitcoin’s price action earlier this year when it rallied from $17,000 to above $30,000.

According to Bluntz, GRT broke out of an ascending channel and now looks poised for a rally toward his target of $0.135.
“Beautiful channel breakout on GRT after (a) slow grind up. (The) last time I saw this exact structure/pattern was the BTC $17,000 breakout before it ran to $31,000.
I love this pattern. I am long and strong on GRT.”
Source: Bluntz/Twitter
At time of writing, GRT is trading for $0.126.
Next up is the decentralized machine-learning network Fetch.ai (FET). According to Bluntz, FET looks bullish after bouncing close to the 0.786 Fibonacci level.
“Solid reaction down here on FET daily chart.
The left curve ape in me is wondering if it can catch some of the hype in AI stocks.” 
Source: Bluntz/Twitter
At time of writing, FET is trading for $0.265.
Another altcoin on the trader’s list is the peer-to-peer payments network Litecoin (LTC). According to Bluntz, Litecoin appears headed toward his target of $100 after respecting the 0.618 Fibonacci level as support.
“Beautiful reaction from the 0.618 on LTC. Next stop around the $100 resistance, in my opinion, then we’ll re-evaluate from there.”
Source: Bluntz/Twitter
At time of writing, LTC is trading for $91.59.
Bluntz also says that he believes many traders are currently sitting on the sidelines even though crypto is beginning to show signs of bullishness.
“Interesting to see crypto up after such a long drawn-out crab market/slowly down and (with) so little enthusiasm on the timeline. My takeaway from that is a lot of people seem to be sidelined.”
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses 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.

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The post Analyst Known for Calling Bottoms Flips Bullish on Two Low-Cap Altcoins, Says a Lot of Traders Are Sidelined appeared first on The Daily Hodl.


A crypto strategist who nailed Bitcoin&#8217;s (BTC) bear market bottom in 2018 says he has his radar locked on two low-cap altcoins. Pseudonymous crypto analyst Bluntz tells his 223,100 Twitter followers that the blockchain-indexing protocol The Graph (GRT) appears to be mirroring Bitcoin&#8217;...

Analyst Known for Calling Bottoms Flips Bullish on Two Low-Cap Altcoins, Says a Lot of Traders Are Sidelined

Fantom (FTM), a leading Layer 1 (L1) blockchain platform, has launched a new Gas Monetization program to incentivize high-quality Decentralized Applications (dApps) and attract top talent to the ecosystem. 
With the recent announcement of the long-term vision for the protocol by Andre Cronje, co-founder of the blockchain platform, the community is buzzing with excitement for the future of Fantom.
Fantom’s Gas Monetization, which just went live on May 28th, is one of the most highly anticipated updates for the platform. The governance proposal was first approved in January 2023, with an overwhelming 99.8% of the votes, showcasing the community’s support for the initiative.

Fantom Launches Gas Monetization Program
Gas monetization is an incentive program to reward high-quality dApps for their generated fees. These dApps will receive a 15% kickback on all the gas fees generated, incentivizing development and attracting more developers to the ecosystem. The money for this reward comes from the fact that the FTM burn rate will be reduced from 20% to 5%.
This is a win-win situation for both developers and the Fantom network. Developers are compensated for the value they create on the network, while the network benefits from increased adoption and usage. The reduction in the FTM burn rate also helps control inflation and gives more stability to the token’s value.
Francesco, a leading figure in the blockchain industry, remarked that this incentivization of development is exactly what Fantom needs to achieve its goals. With Gas Monetization, the platform is taking a significant step forward to become one of the leading L1 giants in the blockchain industry.
However, the mechanism could be targeted by spam dApps and malicious actors trying to exploit it. To prevent such exploits, Fantom has implemented certain criteria that dApps must meet to be eligible for Gas Monetization.
Fantom’s Eligibility Criteria
A dApp must have completed at least 1 million transactions and been live on the Fantom network for at least 3 months to be eligible. These criteria are valid for each smart contract on the Fantom mainnet and may be subject to change during the program based on their effectiveness.
Once approved for the program, dApps will receive 15% of the gas fees they generate. The FTM tokens received are unlocked and can be used as the dApps see fit. However, what happens to the 15% share of gas fees made by dApps that do not participate in the Gas Monetization Program?
These transactions are ineligible and do not qualify for the 15% share of gas fees. The Fantom Foundation has clarified that only dApps that meet the eligibility criteria can participate in the Gas Monetization Program and receive rewards for their contributions to the network.
The Foundation also reserves the right to suspend rewards to participating dApps for any necessary reason, including fraudulent user activity or the overall well-being of the Fantom ecosystem.
The Gas Monetization Program is a great opportunity for dApps to showcase their value and be rewarded for their contributions to the network. However, ensuring that spam dApps or malicious actors do not exploit the program is essential.

This new approach is just a series of incentives Fantom builds to attract developers and keep them engaged with the ecosystem. The platform’s long-term vision includes creating a decentralized finance (DeFi) ecosystem that is fast, secure, and user-friendly, with various dApps and tools that make it easy for users to interact with the network.

Featured image from Unsplash, chart from TradingView.com 


Fantom (FTM), a leading Layer 1 (L1) blockchain platform, has launched a new Gas Monetization program to incentivize high-quality Decentralized Applications (dApps) and attract top talent to the ecosystem.  With the recent announcement of the long-term vision for the protocol by Andre Cronje, co-...

Fantom (FTM) Gas Incentive: The Secret Sauce To Reclaiming L1 Dominance

A prominent non-fungible token (NFT) protocol based on the Bitcoin blockchain, “Ordinals,” surpassed an impressive benchmark in a significant turn of events.
The network’s transaction surged to 10 million a few days after the Ordinals creator, Rodarmor, announced stepping down from the project. 

Reaching over 10 million inscriptions suggests that many transactions have occurred on the protocol. Casey Rodarmor tweeted that he had stepped down as the lead maintainer of Ordinals. 
He claimed that he was not giving Ordinal full attention and handed over the role to a programmer, Raphjaph. He further emphasized that donations from the community will fund the coder’s work on the project.
Ordinals Protocol And Its Rapid Growth
Bitcoin Ordinals is a protocol that supports the transcription of a unique identifier to individual satoshis (SATs) to enable easy tracking during transactions.
After the launch of Ordinals in January, the protocol quickly gained popularity as a means to create new assets on the Bitcoin blockchain. Initially, Ordinals served to “inscribe” data on individual satoshis (the smallest divisible unit of BTC).
However, the rapid growth in the number of Ordinals inscriptions occurred when the BRC-20 token standard was introduced in early March.

This new token standard, established by the pseudonymous “Domo,” enabled users to mint new tokens on the Bitcoin blockchain. 
According to data from BRC-20.io, in the first week, the number of Bitcoin-based tokens jumped from a hundred to 25,000 at the time of writing.
The introduction of the BRC-20 token standard has expanded Bitcoin’s functionality. This increased utility has boosted the adoption and use of the Bitcoin blockchain for tokenization and asset creation.
Controversy Surrounding Bitcoin Ordinals – Efficiency And Speed Concern
The growth of Ordinals has not been without its share of controversy, as critics among the Bitcoin community have raised concerns about its method of “inscribing” assets on the network.
They argue this approach is “inefficient and wasteful,”, particularly regarding block space and transaction fees.
In response, alternative developers have been exploring using smart contracts to mint assets and non-fungible tokens (NFTs) on the Bitcoin blockchain. They aim to address the efficiency issues associated with Ordinals by leveraging smart contracts.
On the other hand, proponents of the initiative have praised Ordinals for its ability to attract new users to the broader Bitcoin ecosystem. 
Notably, even prominent anti-Bitcoin advocate Peter Schiff recently minted a small number of NFTs on Bitcoin using the Ordinals protocol.

While the surge in Ordinals-related activity has increased BTC transaction fees, miners have greatly benefited from this heightened network engagement. 
According to data from Dune Analytics, miners have received over $44 million in fees related to Ordinals transactions.
Featured image from Pixabay and chart from TradingView


A prominent non-fungible token (NFT) protocol based on the Bitcoin blockchain, &#8220;Ordinals,&#8221; surpassed an impressive benchmark in a significant turn of events. The network&#8217;s transaction surged to 10 million a few days after the Ordinals creator, Rodarmor, announced stepping down f...

Bitcoin Ordinals Achieve Milestone With Over 10M Inscriptions As Creator Rodarmor Departs

Cross-chain interoperability protocol LayerZero’s infrastructure aims to drive liquid staking adoption across the DeFi ecosystem.  

LSD for DeFi: Tenet, LayerZero partner to drive cross-chain liquid staking adoption 

The deal was posted to both the Ethereum network and the protocol’s official Twitter channel.

Jimbos Protocol offers deal to hacker, threatens police action

Arbitrum-based liquidity platform – Jimbos Protocol – revealed working with multiple security researchers and on-chain analysts after suffering an exploit of around $7.5 million over the weekend.

According to the latest update, Jimbos said the team will engage with law enforcement agencies after 4 PM UTC on Monday if the exploiter failed to return the stolen funds.

“Quick update: We are already working with multiple security researchers and on-chain analysts who helped with both the Euler Finance and Sentiment exploits. We will start working with law enforcement agencies tomorrow by 4PM UTC if this isn’t sorted out by then.”

As previously reported, Jimbos was hacked on the morning of May 28, resulting in the loss of over 4,000 ETH.
Blockchain expert PeckShield blamed the lack of slippage control in the main contract, which enabled the attackers to extract a $5.9 million flash loan, manipulate the prices of JIMBO, the protocol’s native token, and run away with treasury funds.
The team behind the protocol sent a message embedded in a transaction to the exploiter’s wallet address, offering to stop all investigations if 90% of the stolen funds are returned.
Jimbo debuted less than a month ago, while its second version was launched just three days before the exploit.
Meanwhile, Jimbo’s first iteration also encountered issues shortly after its launch on May 16th. As a result, the team warned the users to cease all interactions with the token, dubbing V1 contracts as “irreparably broken.”

The post Hacked Liquidity Protocol Jimbos Offers Deadline to Exploiters Before Onboarding Law Enforcement appeared first on CryptoPotato.

The team behind the protocol was reportedly looking to get in touch with the exploiter.

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