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What is a Crypto Index Fund - Crypto ETF
November 23, 2021
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Cryptonomics
Investing in Crypto ETFs has advantages, but there are also downsides to be aware of.
SEC approves, Finally!
On October 15, the world woke up to the news that the United States Securities and Exchange Commission (SEC) has finally approved Bitcoin Exchange Traded Funds (ETFs) for the American financial market. On the strength of that news, the price of Bitcoin went on a rally that saw it reach an all-time high of $66,930.
The US SEC had been hesitant for quite a while over approving Bitcoin ETFs, but it now looks like the regulatory giant is gradually warming up to the fact that cryptocurrency is the way to go. Though Bitcoin ETFs were already trading legally in some countries such as Sweden and Canada etc before coming to the US, the US is the world's biggest financial market. As such, getting approved in the US marks a new milestone in the growing legitimacy surrounding the use of cryptocurrencies and their derivatives.
While a good number of people know about Bitcoin and other cryptocurrencies, Crypto ETFs are a new concept to many others. In this article, we take a look at Crypto ETFs (of which Bitcoin ETF is an example) to help our readers understand the subject better.
What is a Crypto ETF?
A Crypto Exchange Traded Fund (ETF) is an investment fund that enables people to invest in a particular cryptocurrency or a group of cryptocurrencies without a need to own or keep the actual crypto assets. However, the price of a Crypto ETF follows the price of the particular cryptocurrency on which the fund is based.
We will use a scenario to try and make it clearer: let us say that a company owns a cache of Bitcoin, Ethereum, Solana, and Binance Coin. The company then desires to set up ABC ETF to track the price of those 4 crypto assets. To do so, the company will split the ownership of its crypto assets into shares. These shares of ABC ETF are then listed on a stock exchange. An investor could purchase, say 100 shares at $20 per share. Assuming that in 2 years the crypto assets held in the company's portfolio experienced growth in market value. At the end of the 2 years, the value of each ABC ETF share may have risen to say, $60, and the original investment of $2,000 would then be worth $6,000.
We can see that the investor in the above scenario is not in custody of the crypto assets even though his investment is affected by what goes on in the crypto market. The investor simply outsources the custody and management of the crypto assets to the company.
Keep in mind that cryptocurrencies can be very speculative and there is no guarantee that the valuation will always go up. If a crypto asset loses market value, the price of the shares of any ETF that is based on that particular crypto asset will go down as well.
Crypto ETFs are regulated instruments like shares/stocks and can be bought or sold on traditional exchanges such as New York Stock Exchange, Toronto Stock Exchange etc
Brief History
Though it took the US quite a while before licensing Crypto ETFs, they have been around for some time in a few countries.
According to PRNewswire, In October 2015, CoinShares floated the world's first publicly traded Bitcoin ETF on NASDAQ Stockholm and followed it up with the listing of an Ethereum ETF - the Ether Tracker One, in 2017. Earlier in 2021, Canada approved the listing of Purpose Investments' Bitcoin ETF and Evolve's Bitcoin ETF on the Toronto Stock Exchange.
United States financial regulators have been much more conservative and hesitant to approve Crypto ETFs. In a May 7th CNBC report, the SEC stated that the potential for fraud and manipulation in the Bitcoin market was a major reason why the regulatory watchdog was cautious.
But then, in August the SEC's posture towards Crypto ETFs began to turn positive. Finally, after turning down many applications over the years, the first Bitcoin ETF in the US market - ProShares Bitcoin Strategy ETF, got SEC-approved and commenced trading on the New York Stock Exchange on October 19. Other Crypto ETFs that have gotten SEC approval and are trading include Valkyrie Bitcoin Strategy ETF and VanEck Bitcoin Strategy ETF.
Classes of Crypto ETFs
Presently, all crypto ETFs fall into one of three categories:
- Physical-backed
In this type, the company that issues the ETF units first buys the actual cryptocurrency. It then creates a fund that equates the value of the crypto. The fund is broken up into shares that are listed on a stock exchange. Investors who subscribe to this type of ETF get exposed to the price movement of the crypto without the hassles associated with owning and managing it.
- Stocks-based
Stocks-based crypto ETFs gives indirect exposure to the cryptocurrency industry. It is based on the stocks of publicly listed blockchain companies such as Coinbase, or companies whose treasury includes a significant amount of cryptocurrencies (such as Tesla). A good example of this class is Bitwise Crypto Industry Innovators ETF. This type of ETF only gives partial exposure to crypto price movement because its value does not necessarily track the value of a particular crypto.
- Futures-based
Futures is a type of crypto derivatives. It speculates on the future price of a commodity without a need to purchase the actual crypto. This type of Crypto ETF is based on a futures contract which is an agreement to buy or sell an asset at a specific time in the future and for a specific price. The fund can thus be set up such that an investor can make a profit when the market is in both upward and downward trends, that is, bull and bear markets.
Advantages of Crypto ETFs
Here are some of the reasons why people may prefer investing in crypto ETFs instead of directly buying and owning crypto:
- Low entry barrier
The prices of some cryptocurrencies such as Bitcoin and Ethereum may be beyond the reach of many people. At the time of writing, 1BTC costs around $57,000 while 1ETH is around $4,000. However, the price of 1 share of a Bitcoin or Ethereum Crypto ETF is far less than those prices. Thus, investors with much less capital can easily invest in a Crypto ETF and still benefit from the price movements of the actual coin.
- Involves much less 'trouble'
Many people find investing in Crypto ETFs more convenient than getting involved with the actual crypto. Buying crypto means having accounts on a crypto exchange, needing to set up wallets, and a real-time need to always protect one's private keys etc. Some people would rather prefer to delegate the trouble involved with crypto ownership to fund managers while still enjoying the benefits of crypto investment.
- Better diversity
There are Crypto ETFs that follow the price of more than one crypto asset. Investing in such a multi-asset ETF will give an investor exposure to multiple markets with just one investment. It offers an easy way to diversify one's investment portfolio.
- More Secure
Hackers and thieves are an ever-constant threat to any crypto bought and kept on a crypto exchange or wallet. No such risk exists with Crypto ETFs because the investor does not own or keep any cryptocurrencies.
Associated Risks
All that glitters is not gold, you would say. Yes, crypto ETFs have their downsides too. Some notable downsides include:
- Volatility
Perhaps the most famous attribute of cryptocurrencies is volatility. Prices of crypto can swing wildly. Crypto ETFs are not immune to volatility. Any direction the price of the underlying crypto swings, the value of the Crypto ETF will follow it.
- Fewer options
Crypto ETFs are still an emerging market. There are not many to choose from. However, with the recent approval from the world's largest financial market - the US, many more Crypto ETFs are likely to spring up throughout the world.
- Extra Cost
Crypto ETFs are convenient, but the investment company will charge some management fees for the convenience it offers investors. These fees, which are compounded into the cost of 1 ETF share, have to be borne by investors.
- Rigid trading time
The stock exchanges where crypto ETFs are traded do not operate round the clock, unlike crypto exchanges that operate 24hrs each day. Choosing to invest in a Crypto ETF means that the investor will potentially miss out on any positive and profitable price movements that happen outside traditional market hours.
- Limited utility
Apart from the value of the investment, there may not be much utility associated with crypto ETFs. Buying a Crypto ETF instead of the actual crypto will mean the loss of several exciting utilities which crypto offers such as yield farming, DeFi, GameFi etc
Which one should you go for: Crypto or Crypto ETF?
It all depends on the preference and goal of each individual. An investor who is only concerned about the long-term investment potential of crypto could choose to invest in ETFs. On the other hand, if an investor prefers to profit from the real-time and short-term benefits of crypto such as means of payment, DeFi, swing trading, etc, buying the actual cryptocurrencies and being in the custody of them would probably be the way to go.
Closing Thoughts
SEC's approval of Bitcoin ETFs is a significant turning point in favour of the global adoption of cryptocurrencies and their derivatives. In the coming months, we are likely to witness rapid growth in the investment niche of crypto ETFs.
As the dust of the excitement crypto ETFs settles, it is important to note that the crypto ETF market is still developing and there is room for amendment in its regulatory framework. Also bear in mind that the value of crypto ETFs is still prone to the volatility of the crypto market. Hence, it may be necessary to avoid allocating a huge percentage of your investment portfolio to such a market still in its regulatory and operational infancy.
Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
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Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
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.
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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Battle of the Dapps Continues with Group B on January 30
January 29, 2023
One participant from Group B will join RealFevr in the Grand Finale after the tie.
Group B Ready for the Clash
The latest iteration of Battle of the Dapps and the first of the tournament-style event for 2023 kicked off on January 25 at 7 PM UTC. The thrilling Group A challenge saw RealFevr become the first project to advance to the Grand Finale after warding off strong rivalry in RadioCaca, and Stader Labs.
The rules of the competition are simple; each project (coming from a different background) answers a series of questions centered around Security, Longevity, and Community. The project considered to have the best answers by the community and judges will move on to the final round.
This edition of Battle of the Dapps is sponsored by Lend Finance, a natural extension of the TEN Finance Ecosystem and a decentralized lending protocol for individuals and protocols to access financial services.
Check out this article for a full explainer of the rules.
The projects competing in Group B are as follows:
- Wombex - A BNB Chain native protocol for boosting yield for liquidity providers and concentrating governance power across Wombat.
- DeRace - A complete NFT horse racing ecosystem based on blockchain and powered by $DERC token.
- Venus - A decentralized finance (DeFi) algorithmic money market on BNB Chain.
Set a reminder and tune in to the official BSC News Twitter Space on January 30 at 7 PM UTC to see which of these three projects join RealFevr in the Grand Finale of the Battle of the Dapps!
Following this Round, Group C (made up of Velvet Capital, NFTbMarket, and Cryptopolis) will tussle for the last spot in the final round on February 3. The Grand Finale is scheduled for February 6, at 7 PM UTC, where one of the three winners of the previous rounds will be crowned the new King of Dapps.
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Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
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Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
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.
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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Multiple Product Releases to Improve Transparency Coming in 2023, Says Binance Product Manager
January 29, 2023
Binance CEO and Product Head join for interview session to discuss product potentials for 2023 and answer community queries.
Binance AMA with CZ and Product Head
Binance is set to make transparency through quality products a major focus for 2023, according to a recent AMA session with Binance CEO Changpeng Zhao and the Head of Product, Mayur Kamat.
The two leaders joined for a Binance Live session on January 24 which was also posted as an interview blog on January 27. The Binance Live has accumulated almost 50,000 views so far. The AMA gives insight into where the two leaders at the world’s largest exchange are hoping to push the company.
Taking cue from the major events in 2022, Binance will be working to improve the transparency between its assets and the crypto community while providing great products to facilitate easier adoption. Through trust and quality products, the two leaders hope to maintain Binance’s success into 2023.
“Look, there's no adoption without products. You can have a great technology or concept, but you've got to have people using products,” says Changpeng (CZ) Zhao. And when people use products, they don't think of them as products. They just use a tool to help them solve a problem.”
Zhao and Kamat also answered questions from the Binance Community regarding the Binance Card, metaverse growth, and more.
Notable, when asked about Binance’s next big product, the two focused on efforts to maintain transparency and make it easier for the community to follow the exchange’s actions. Binance will also work to build out Decentralized Finance (DeFi) adoption.
“Binance’s next big products aim to solve the aforementioned trust and transparency issues,” writes the blog. “There will be multiple product releases around Binance’s Proof of Reserves and Proof of Solvency to provide more transparency and a roadmap to be released publicly. “
For the full interview, check it out here.
What is Binance:
Binance positions itself as the world’s leading blockchain ecosystem and crypto-asset infrastructure provider with a financial product suite that includes the largest digital asset exchange by volume. The Binance platform aims to increase the freedom of money for users and features a comprehensive portfolio of crypto-asset products and offerings, including trading and finance, education, data and research, social good, investment and incubation, decentralization, and infrastructure solutions.
Where to find Binance:
Website | Twitter | Discord | Telegram |
Disclaimer: This is a paid Ask Me Anything (AMA), 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 AMA for $2000 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 AMA.
Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
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 $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.
Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
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.
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.
Don't forget to download the BSC News mobile application on iOS and Android to keep up with all the latest news for BNB Chain and crypto.
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If you need tools and strategies regarding safety and crypto education, be sure to check out the Tutorials, cryptonomics explainers, and Trading Tool Kits from BSC News.
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If you need tools and strategies regarding safety and crypto education, be sure to check out the Tutorials, cryptonomics explainers, and Trading Tool Kits from BSC News.
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Chainlink Weekly Roundup: $7 Trillion, FilSwan, Karto Cars
January 29, 2023
Smart contract oracle network Chainlink hit $7 trillion in TVE, added a new BUILD program member and partnered with a mobile car-racing GameFi app.
Major Milestone, Web3 Storage, Phone Gaming
Chainlink continues to expand its reach in the crypto sector. This week, the dominant smart contract oracle network celebrated a milestone in Transaction Value Enabled (TVE), attracted a new Chainlink BUILD program member, and announced a partnership with a mobile app.
announced partnerships with two carbon credit-related projects, a Non-Fungible Token (NFT)-based strategy game, and a Decentralized Finance (DeFi) protocol on BNB Chain.
In this week’s roundup:
- Chainlink Network Surpasses $7 trillion in TVE.
- FilSwan joins BUILD program.
- Karto Cars integrates Verifiable Random Function (VRF).
Chainlink Hits $7T
The Chainlink Network reached a major milestone in TVE, surpassing $7 trillion in on-chain transactions facilitated by Chainlink oracles since the beginning of 2022.
⬡ Network Milestone ⬡
— Chainlink (@chainlink) January 25, 2023
The #Chainlink Network has surpassed $7 trillion in transaction value enabled (TVE)—a measure of aggregate USD value of on-chain transactions facilitated by Chainlink oracles across 12 blockchains since the start of 2022. pic.twitter.com/Gzw5C3x2ew
Read this Chainlink blog post to learn more about TVE and other Web3 metrics.
FilSwan Joins Chainlink BUILD
FilSwan has joined the BUILD program to accelerate the adoption of its cross-chain decentralized storage and compute solution.
“We are excited to join Chainlink BUILD, which will help us expand the usage of our Web3 storage and compute solution. The Chainlink Network underpins the multichain ecosystem, and its support will help us rapidly gain users for our platform,” FilSwan Founder Charles Cao said in an announcement. “Ultimately, we aim to complement Chainlink oracle services with backend infrastructure that supports a thriving cross-chain blockchain ecosystem.”
FilSwan is building a cross-chain platform to help Web3 projects integrate data, edge computing, bandwidth, and payments, with the goal of decentralizing and democratizing data storage and computing online.
FilSwan already uses Chainlink Price Feeds on its multichain.storage platform, and plans to integrate Automation into its decentralized computing platform LagrangeDao.
As part of BUILD, FilSwan will gain access to new alpha and beta product releases, to dedicated technical support, and more.
In return, FilSwan will commit a portion of its total token supply to Chainlink service providers, including stakers.
🏗️ #ChainlinkBUILD 🏗️@0xfilswan is now #Chainlink BUILD's newest member.
— Chainlink (@chainlink) January 26, 2023
Explore how BUILD will help accelerate the adoption of FilSwan's decentralized storage and compute solution ⬇️https://t.co/4PZyqEMiUB pic.twitter.com/z21zUFh7f7
Karto Cars NFT Mint
Karto Cars has integrated VRF on Ethereum to ensure a fair mint of its Non-Fungible Tokens (NFTs).
“The team and I decided to use Chainlink VRF so that our community understands we made the minting process as fair and transparent as possible. Our goal was to ensure that every player has a fair chance of minting the rarest NFTs, and Chainlink VRF is the best solution to accomplish that!” CEO Najib EL Hayek said in a Medium post.
Karto Cars is a Free-to-Play/Play-to-Earn racing game available on the App Store and Google Play Store. The mobile phone game features a collection of 2,500 retrofitted car NFTs.
.@KartoCars has integrated #Chainlink VRF on #Ethereum to help randomize its NFT mint.
— Smart Contract (@SmartContract) January 25, 2023
Explore how VRF helps unlock fairness and transparency for #NFT mints👇https://t.co/BqEpAUSHle
Last four weekly Chainlink Roundups:
- Jan. 22: Etherisc, OpenEarth, Planet IX, EMP Money
- Jan. 15: Mind Network, Polarys, Festa do Taipe
- Jan. 8: Cask, OnePlanet, Kwil, 2022 Highlights
- Dec. 31: Blueberry, Magpie, Galileo, Fuse Gold
What is Chainlink:
Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries and offers global enterprises and leading data providers a universal gateway to all blockchains.
Where to find Chainlink:
Website | Twitter | Docs | Community
Disclaimer: This is a paid Ask Me Anything (AMA), 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 AMA for $2000 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 AMA.
Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
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 $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.
Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
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.
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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BSC News
FlokiFi Locker Does 2x to Hit $9M TVL
January 29, 2023
Investors are flocking to Floki as the community braces for the big burn!
FlokiFi Locker Reaches New All-Time High
FlokiFi Locker surpassed $9 million in Total Volume Locked (TVL), doubling its total assets locked in under four days.
Floki has been making headlines with a pending DAO proposal set to implement a major token burn. Users are clearly flocking to the FlokiFi Locker to lock up and secure assets in preparation for the burn. The protocol is attracting investment as it increased from $4.04M on January 26, according to DefiLlama. That’s a 127% increase!
#FlokiFi Locker TVL just crossed $9 million!https://t.co/YMOONTWGKD #Floki and the #FlokiVikings are here to take over! 💪⚔️ https://t.co/bDuHyd1SPd pic.twitter.com/rlkf6ooLxG
— FLOKI (@RealFlokiInu) January 29, 2023
Floki has also been on the radar of some major centralized exchanges. The token pushed up the trending charts on CoinMarkerCap Community on January 28-29, garnering almost as much attention as bitcoin. There are also rumors that Binance is buying up Floki tokens after the two partnered for the payment service of the Floki merch store.
$FLOKI is currently trending as the second most popular #cryptocurrency after $BTC in the @CoinMarketCap community! 🔥#Floki is trending alongside $SHIB, $ETH, and #BTC!
— FLOKI (@RealFlokiInu) January 29, 2023
Make sure to follow Floki on CoinMarketCap:https://t.co/qJ4dR6GEcH pic.twitter.com/coXsx7IlfW
The TVL on FlokiFi has since returned back to under $9M, sitting at $8.7M. With an average lock of around $8k, users are bringing in large sums to the protocol. The vast majority of FlokiFi investments are on Ethereum, where there is over $6 million TVL.
What is Floki:
Floki Inu began with a tweet from Elon Musk. When the billionaire announced he would name his Shiba Inu puppy Floki, it created a deluge of ‘Floki’ dogcoins. The most successful of these is Floki Inu. Floki Inu is currently the third most popular meme token on the market, behind Dogecoin and Shiba Inu. It is backed by a community of committed enthusiasts and a strong marketing campaign.
Where to find Floki:
Website | Twitter | Telegram | Discord
Disclaimer: This is a paid Ask Me Anything (AMA), 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 AMA for $2000 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 AMA.
Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
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 $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.
Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
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.
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.
Don't forget to download the BSC News mobile application on iOS and Android to keep up with all the latest news for BNB Chain and crypto.
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BSC News
BSC News Partners with Unstoppable Domains
January 29, 2023
The collaboration allows users to mint free .NFT domains.
BSC News X Unstoppable Domains
BSC News is proud to announce that it has partnered with NFT domain name provider and digital identity platform, Unstoppable Domains (UD).
The partnership allows users to mint a free .nft domain that matches their Twitter handle.
Owning a Web3 domain allows users to enjoy a smoother experience by replacing complex alphanumeric addresses with human-readable domain names when buying or sending crypto assets, enabling them to perform transactions more easily.
How to Get a Free .NFT Domain
- Visit the link
- Verify your Twitter account
- Check for your free Web3 domain
- Update your Twitter to show off your Web3 domain
Once you obtain your free .nft domain, you can go ahead and update your Twitter profile to match your NFT domain and show that you’re part of the Web3 community. Unstoppable Domains allows you to buy and set up more than one domain too. Why stop by just owning your Twitter username?
The partnership with BSC News coincides with a Lunar New Year campaign push by Unstoppable Domains to giveaway special NFT domains. There will also be a $500 giveaway of NFTs and domains from BSC News to celebrate the partnership. More details will follow regarding the giveaway.
Unstoppable Domains has been joining forces with accelerator programs across the globe in 2023 to educate startups on Web3 and digital identity. These programs include solid partners such as Open Web Collective, CV Labs, and Aves Lair. Over 700 companies have currently integrated Login with Unstoppable to improve user experience and assist their users in efficiently managing their digital identities.
About Unstoppable Domains
Founded in 2018, Unstoppable Domains is building a digital identity platform for Web3. Unstoppable Domains offers Web3 domains minted on the blockchain that give people full ownership and control of their digital identity, with no renewal fees. With Unstoppable Domains, people can replace lengthy alphanumeric crypto wallet addresses with a human-readable name and log into and transact with hundreds of apps, wallets, exchanges and marketplaces. The company was named by Forbes as one of America's Best Startup Employers in 2022.
Find more info about Unstoppable Domains here:
Website | Twitter | Discord | Instagram | Youtube |
Disclaimer: This is a paid Ask Me Anything (AMA), 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 AMA for $2000 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 AMA.
Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
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 $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.
Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
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.
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.
Don't forget to download the BSC News mobile application on iOS and Android to keep up with all the latest news for BNB Chain and crypto.
Follow us on Twitter and Instagram!
If you need tools and strategies regarding safety and crypto education, be sure to check out the Tutorials, cryptonomics explainers, and Trading Tool Kits from BSC News.
Looking for a job in crypto? Check out the CryptoJobsNow listings!
Follow us on Twitter and Instagram!
If you need tools and strategies regarding safety and crypto education, be sure to check out the Tutorials, cryptonomics explainers, and Trading Tool Kits from BSC News.
Looking for a job in crypto? Check out the CryptoJobsNow listings!
Disclaimer: This article is exclusive BSC News Premium Content. Premium content is viewable without a membership for a limited time. After the limited time period expires, readers will need to either subscribe or hold a BSC News NFT to view Premium Content. Visit the BSC News NFT website, Discord, and Twitter to learn more about becoming a Premium member.
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