

A recap of notable news from the week.
Recapping the Week in DeFi
Cryptocurrency never sleeps, and neither does crypto news and content. Because of this constant stream of information, it’s difficult for investors to keep track of the most notable news. In this weekly recap, BSC News shares some of the most exciting stories and breaking news events of the week to help you stay up-to-date on all things DeFi.
BNB Chain Hosts First North American Innovation Pitch Day in San Francisco

BNB Chain will be hosting its first Innovation Pitch Day in North America on October 30. Taking place in San Francisco, the event gives participants unique aid and opportunities.
Read more about the event here.
Digital Assets in Nigeria and the Evolving Stance of the Nigerian Government

Crypto is becoming more accepted in Nigeria, but that wasn’t always the case. This article by BSC News tackles the evolution of crypto in the country.
Read more about the evolution here.
RichQuack Tops Memecoin Social Rankings, Burns 18.45T Tokens

RichQuack has built a fervent community, once again topping charts when it comes to memecoins in the space. The project also burned another 18.45T $QUACK in a deflationary measure.
Check out what the social dominance and token burn mean here.
Magic Eden Adopts Optional Royalties, Sparks Debate in NFT Space

Royalties on NFT transactions have long been a form of income for artists, but if buyers have the choice to pay less, they will. Despite supporting creators previously, Magic Eden changed its tune to compete with no-royalty marketplaces, sparking a debate.
Check out their reasoning for the decision and its aftereffects here.
What are the Differences Between Binance and BNB Chain

Binance and BNB Chain are under the same umbrella but serve completely different purposes. This BSC News article explains the differences in centralization and decentralization between the two.
Read about the differences here.
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This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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As part of CMC's end-of-the-year wrap-up, we shine a light on what Bitcoin has been up to as the rest of the crypto market has struggled.

Bitcoin is the longest-living, market leading OG cryptocurrency. For better or for worse, it has given birth to the entire cryptocurrency industry. Many believe that Bitcoin has fulfilled its mission as peer-to-peer digital cash, bringing freedom to people worldwide. Users of the oldest cryptocurrency range from political dissidents like Alexey Navalny to financially excluded Venezuelans. It has the highest brand recognition of any project in the space and works exactly as advertised.
Perhaps it does not have the bells and whistles of newer projects, but it also doesn’t have their implosions (see Luna) or constant network shutdowns (see Solana). Amidst all the chaos in the markets this year, Bitcoin keeps relentlessly producing block after block after block. Despite some in the cryptocurrency space viewing it as "legacy tech," it remains the market leader for a reason.
One of the reasons for Bitcoin's success is its design simplicity, which limits the threat surface of attacks. Its smart contract functionality may be highly limited, but this has helped it avoid hidden leverage and the corrosive problems of MEV. It does not have stablecoins, which curtails the protocol-level influence of large centralized players like Circle and Tether. Had the ETHPOW fork been more contentious, stablecoin issuers would have had an outsized say. Bitcoin’s simplicity makes it resilient.
Many cryptocurrency enthusiasts critical of Bitcoin’s “old fashioned” technology fail to understand that most cryptocurrency projects are parasitical of Bitcoin's pristine censorship resistance. Regulators and lawmakers realize that Bitcoin cannot be easily censored, so these projects pretend to be similar to Bitcoin and avoid scrutiny. Moreover, market participants also know that they can easily exit these weaker coins into Bitcoin at the push of a button if needed, so they are happy to park their wealth there temporarily. Many think that these projects will always exist in the shadow of Bitcoin.
In recent years, Bitcoin has solidified its position as "digital gold," with countries and companies adopting this narrative. While the 2017 bubble saw numerous projects attempting to be “the next Bitcoin,” Bitcoin was the undisputed king of its category by 2022. Competitors now seek to be “smart contract platforms” rather than digital money. With crypto lenders and exchanges defaulting on their obligations and DeFi protocols getting hacked left right and center, the simplicity of keeping Bitcoin in cold storage is increasingly appealing. Staying humble and stacking sats, as some would say.
Bitcoin hasn’t escaped the price volatility of 2022, having lost ~60% of its value year to date. But it has avoided the devastation of many other market participants. Investors in Luna, depositors of Celsius or users of FTX have found themselves completely wiped out. What these projects have in common is the complexity of their narrative: numerous tokens, intertwined in a myriad of ways, offering both yield, price stability and the allure of exponential growth. Ultimately, they provided none of that and imploded within days. Bitcoin eschews complexity, it promises neither yield nor price stability. Instead, it offers resilience.
Those that were misled by the siren call Celsius, Luna, FTX and the like are looking for answers. Self-custody and censorship resistance are narratives that struggle to compete with “get rich quick” while the market is hot, but their value has been re-established recently. Hardware wallets have had record sales since FTX’s collapse. People have learned hard lessons about trusted third parties and protocols obfuscating risk with complexity. It is a great opportunity for Bitcoiners to embrace them and educate them on Bitcoin’s ethos and mission.
Yet there are concerning trends. The Lightning network continues to grow, but at a pace far slower than most advocates anticipated. Bitcoin has lost mindshare among speculators and technology enthusiasts to Ethereum. More worryingly, Bitcoin is losing market share to stablecoins, which function as digital bearer instruments that can now reach those who previously only had access to Bitcoin. Even in markets that require a higher degree of censorship resistance, such as dark net markets, Monero is gaining ground. Furthermore, there are growing concerns that its transaction fees may not compensate for the decline in the block subsidy.
The Bitcoin community must address the challenging task of maintaining the predictability and simplicity of the protocol without shutting out impactful innovation. A careful balance must be struck between the users’ needs and Bitcoin’s mission. Ideology cannot trump reality, Bitcoin’s future development must be practical, not just theoretical. There are encouraging examples of forward-looking research, such as the fellowship sponsored by the Human Rights Foundation for roll-ups on Bitcoin.
Despite these challenges, Bitcoin remains the king and will likely continue to lead in 2023. However, it cannot afford to rest on its laurels: it must continue to evolve and adapt to the changing landscape.
This is a guest post from CoinMarketCap by By Boaz Sobrado. The original article was published here.
Where to find CoinMarketCap:
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This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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unshETH Introduces Liquid Staking Derivatives for Ethereum Validator Nodes

unshETH looks to unlock validator potential with its new reward mechanism!
unshETH Liquid Staking Derivatives
Liquid Staking Derivatives (LSD) is a relatively new industry that is disrupting how people earn rewards and how they interact with financial products. Token holders are given a derivative for their original token, which they can put to additional use, gaining rewards from two tokens instead of one.
unshETH.xyz is striving to take this industry a step further with a unified ERC-20 token (unshETH). All liquid staking derivative tokens on the Ethereum network can be swapped for this one token, increasing accessibility. Moreover, unshETH is taking a completely new approach to Liquid Staking Derivatives.
unshETH is aiming to ensure decentralization of Ethereum validator nodes, y allowing users to delegate with whom their eth should be staked. The protocol will also be open source, so that any other LSD provider can copy their features. This will help to strengthen and improve the overall ecosystem.
Decentralization Of Ethereum Validator Nodes
Ethereum runs on validator nodes. These nodes ensure that the industry is impervious to a 51% attack and that transactions are legitimate. To ensure the longevity and viability of the Ethereum ecosystem, it is important that Ethereum validators are decentralized.
Currently, it costs nearly $50,000 (32 ETH) to run a validator node. This is not a flaw - the high price ensures that only those who are committed to the Ethereum ecosystem will invest for a long-time horizon. It also ensures that no single actor owns too many nodes, given the cost. The staked 32 ETH cannot be withdrawn, at least until the Shanghai Upgrade this March.
But while the overall validator nodes on Ethereum are increasing in their decentralization via the overall numbers, this has not been the case for Liquid Staking Derivative validators. The unshETH team witnessed this firsthand, having developed some of the first LSDs themselves.
To this end, the core aim of unshETH is Ethereum validator node decentralization for liquid derivatives. One means they use to achieve this is that validator rewards decrease with the total amount staked. This should serve to greatly disincentivize centralization. The second is incentive engineering, whereby capital is distributed across the LSD ecosystem to promote decentralization.
The Benefits Of Liquid Staking Derivatives
Liquid Staking provides multiple benefits for decentralized finance (DeFi) users. A derivative token is given to a user when the original token is staked. In this manner, the DeFi native gets staking rewards for the original token and can put the derivative token to a different use.
The use cases of liquid staking are innumerable. All traditional derivative products within the financial markets (such as futures and options) can be placed on a blockchain, with additional risk mitigation and transparency features. This would be done with a much smaller amount of red tape.
But all of these benefits can only come to fruition when the core network is sufficiently decentralized. unshETH provides a variety of mechanisms to restore decentralization for LSD nodes on Ethereum. It does this in an open source manner so that all other providers can assist with one of the most pressing issues of Web3 - node decentralization.
Why UnshETH Is A Game Changer For Liquid Staking Derivatives
unshETH allows liquid token holders to exchange their Liquid Staking Derivative assets (such as stETH or cbETH - built by Lido and Coinbase respectively) into one unified asset: unshETH. This is different from other providers that offer various derivatives for various tokens, resulting in a messy string of derivative pairs to keep track of. Moreover, they are focused on bringing back decentralization to the Ethereum LSD market.
Most, if not all, of the other LSD providers are not focused on assisting in decentralization of validators. They are interested in taking a profit through fees. unshETH is Ethereum-specific and takes a more streamlined approach with its unified token. This will restore integrity to the ecosystem.
unshETH aims to restore validator decentralization to the Liquid Staking Derivatives industry through incentive engineering, an idea that was strongly endorsed by Vitalik Buterin, the original Ethereum founder. This alone sets it apart from other providers. unshETH further allows liquid holders to consolidate a variety of derivatives into one functional and tradable unified token.
Users will be able to withdraw tokens after the Ethereum Shanghai upgrade in March. This is when the full version of unshETH will be unlocked. The unshETH team will then roll out Validator Dominance Options, a brand new DeFi derivative designed to add another layer of enforcement of decentralization, by redistributing staking yield away from monopolistic LSD providers via a novel mechanism.
About unshETH:
UnshETH is a decentralized initiative for disrupting the dominance of a single Liquid Staking Derivative (LSD) on the Ethereum network by incentivizing the diversification of validator ownership through the use of incentive engineering. The core mission of unshETH is to ensure decentralization of Ethereum validator nodes, restoring original design principles. The protocol increases LSD market accessibility and helps users unlock the power of liquid staking derivatives in a fully decentralized manner.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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Pioneers can mine more Pi by boosting their individual mining rates through diverse contributions.
Boost Your Individual Mining Rate
While the popular mode of increasing Pi is through mining via the mobile application, Pioneers can increase their holdings by boosting individual mining rates through diverse contributions.
Here are the different ways you can increase your Pi mining rate in addition to mining daily:
- Inviting your friends to mine Pi, increasing Referral Team Rewards.
- Maximizing Security Circle Rewards by completing your Security Circle.
- Reminding your existing referral team to mine so you can earn more.
- Increasing your lockup commitment after setting up your lockup configuration.
- Engaging with the Pi Browser applications in the directory to increase App usage rewards.
- Increasing Node rewards by running a Node on the Testnet.
Visit the Pi mobile application and read more about mining rates in the Whitepaper. BSC News will continue to publish daily tips and updates about the mobile mining network.
What is Pi Network:
Pi Network is a novel cryptocurrency and developer platform that allows mobile users to mine Pi coins without draining the device’s battery. Pi’s blockchain secures not only economic transactions via a mobile meritocracy system but also a full Web 3.0 experience where community developers can build decentralized applications (dApps) for millions of users.
Where to find Pi Network:
Website | Twitter | LinkedIn | Facebook | Instagram |
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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Learn about Proof of Reserves from the blockchain security experts in under a minute!
Proof of Reserves Explained by CertiK
Proof of Reserves is a hot and important topic across crypto and Web3. More and more major exchanges and projects are implementing ways to transparently show their assets reserves. Users want to see Proofs of Reserves to gauge the security and solubility of projects.
Learn how to understand Proof of Reserves in just one minute from CertiK!
After the #FTX scandal, Proof of Reserves has been a major topic of discussion..
— CertiK (@CertiK) January 31, 2023
How well do you understand #ProofOfReserves and why is it such an important topic?
With Byte Size Blockchain, you can learn about topics in under 1 minute 🧠
Let's learn together 👇 pic.twitter.com/g40S9UH8EA
What is CertiK:
CertiK is a blockchain security firm that helps projects identify and eliminate security vulnerabilities in blockchains, smart contracts, and Web3 applications using its services, products, and cybersecurity techniques.
Where to find CertiK:
Website | Twitter | Medium | Telegram | YouTube
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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Core DAO Introduces S-Prize to Incentivize Ecosystem Development

The S-Prize introduction will ensure that users gain access to valuable blockchain applications while rewarding builders for their creations.
Core DAO Announce Satoshi Prize
Following the imminent $CORE airdrop, Core DAO has announced the integration of a new reward token called the Satoshi Prize or Core S-Prize.
In honor of the Satoshi Plus consensus mechanism and Satoshi Nakamoto, the token will be used for ecosystem development. According to the protocol’s Medium announcement, S-Prize will incentivize valuable Decentralized Application (dApp) development and reward builders.
“The goal of the S-Prize is twofold: (1) incentivize the development of real applications that deliver value to Core users and (2) reward builders for the value that they create on the Core network. As one of the world’s largest and most decentralized communities, delivering useful products on Core is the ultimate achievement,” Core DAO wrote.
S-Prize follows the protocol’s mission of ignoring grants that don't help users at the network’s early stage of development. Grants favor protocols’ development even when they don’t align with the network’s long-term vision. With S-Prize, developers will be rewarded based on their applications' value to the Core ecosystem, ensuring maximum benefit for users.
Builders receiving S-Prize will be challenged with achieving milestones and completing objectives. Furthermore, the challenges will be time-dependent and paired with reasonable CORE rewards. Core DAO will announce the challenges, CORE prices, and payment timeline.
S-Prize promises to reward builders for their effort toward contributing true value to the Core DAO ecosystem. The initiative would benefit developers, users, and the entire Core community. By rewarding builders based on the value they add to the ecosystem, users can gain access to valuable dApps on the network. Overall, S-Prize will position the network to be a top player in the blockchain industry.
Read the Core DAO publication for more information.
What is Core DAO:
Core DAO is the official decentralized organization developing the Satoshi Plus ecosystem. It represents an opportunity for miners to access new revenue streams by contributing hash power to the chain. Inspired by the principles of both blockchains, Core displays a deep appreciation for the crypto ecosystem's history and an even greater excitement for Core’s role in its future.
Where to find Core DAO:
Website | Docs | Twitter | Discord |
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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