DeFi Technologies Announces CoreFi Strategy, Following Success of MicroStrategy
DeFi Technologies has announced plans to launch CoreFi Strategy, a new investment vehicle aimed at providing exposure to Bitcoin and its associated decentralized finance ecosystem.
Scheduled to debut in the first quarter of 2025, the initiative will operate on a Canadian stock exchange, according to a press release from the company.
CoreFi Strategy is designed to replicate investment strategies seen in firms such as MicroStrategy and MetaPlanet. It will focus on accumulating Bitcoin (BTC) and CORE, the native asset of the Core blockchain. By leveraging financing strategies, CoreFi aims to build its treasury while offering investors regulated access to Bitcoin staking and yield generation opportunities.
Olivier Roussy Newton, CEO of DeFi Technologies, emphasized the potential for investors to engage with the burgeoning Bitcoin staking ecosystem through this new strategy.
The firm’s approach mirrors successful models that have seen significant stock price appreciation, with MicroStrategy’s shares rising over 500% in the past year, and Bitcoin itself increasing by approximately 150%.
Core currently holds over 8,200 staked Bitcoin and boasts a total value locked (TVL) exceeding $700 million. Its recent Dual Staking integration allows CORE token holders to achieve higher staking yields when they stake Bitcoin, enhancing the potential returns for investors.
As of July 31, DeFi Technologies reported CA$837 million ($597.65M) in assets under management (AUM). Analysts, including Benchmark’s Mark Palmer, have expressed a positive outlook, anticipating continued growth in AUM due to new exchange-traded product (ETP) launches and rising prices of underlying crypto assets.
DeFi Technologies trades under the ticker CBOE:DEFI in Canada and is also available over-the-counter in the United States.
Web3 gaming leader Telegram accounts for 21% of new games entering the market in 2024. According to the latest report from Game7, a community dedicated to advancing blockchain technology in gaming, this.
Created in collaboration with research firm Naavik, the 2024 State Of Web3 Gaming Report examines how developers and publishers have adopted the popular messaging app to help drive acquisition and engagement in the rapidly growing blockchain gaming sector.
That surge in Telegram’s influence is part of a more significant trend within the industry of challenging traditional app platforms like Apple’s App Store and Google Play, which have been criticized for their restrictive policies and ambivalent regulatory stance.
Telegram’s open ecosystem and the way it enables communication between people have made it the tool of choice for Web3 developers, so they can bypass the copious drawbacks of a regular app store and talk to their audience directly.
Interestingly, the report provided vital insights into what platforms are growing Web3 gaming the most. Two ecosystems that are doing well are Immutable and Arbitrum. Immutable has stood out, with its 71% year-over-year growth and announcement of 181 new game titles. Many of these titles have migrated from Polygon to Immutable’s more scalable and efficient solutions.
As another blockchain ecosystem, Arbitrum has experienced a 68 per cent growth, mostly due to the Orbit Framework, which has helped establish 23 new gaming networks. Compatible with Ethereum, Layer 2 and Layer 3 solutions like Immutable and Arbitrum are helping to define the new standard for blockchain gaming, with scalable solutions and reduced transaction costs compared to traditional blockchain networks.
Geographical Distribution and Developer Stability
In the geography department, the Web3 gaming space remained dominated by the Asia Pacific (APAC), South Korea, and Singapore. For example, 39% of all new game launches were in the region, and the United States closely followed at 36%.
Despite new announcements dropping 36 per cent year over year, the industry is looking up, with 84 per cent fewer developer exits. This speaks to a more mature industry with a stronger base of developers who are interested in creating for the long term.
While there are positive signs, the report notes that blockchain support is present in just 34 per cent of games, lagging behind the bridge from traditional gaming to the Web3 ecosystem. With that in mind, major platforms like the Epic Games Store have adopted blockchain technology, as it released 81 Web3 titles in 2024. However, Steam’s commitment to keeping blockchain games away hasn’t managed to deter developers from exploring other distribution methods.
Meanwhile, 2024 saw initial blockchain adoption on console games, too, but companies like Sony and Microsoft are reluctant to embrace this technology. The fact that many developers are creating console games that don’t include any blockchain features at all is a sign that full-scale integration of blockchain gaming in consoles may take longer than some are expecting.
Fund Growth and Trends for the Industry
According to Web3 Gaming, Q3 2024 funding rose 17% year over year but shifted away from large to smaller and more strategic rounds. In these rounds, most of the focus is on the token launches as opposed to huge amounts of capital going into game development. Funding growth is good, but the industry still has some work to do. This is tempered by macroeconomic uncertainty, which means there’s no breakout hit like “Axie Infinity.”
Compared to 2020, gaming token launches spiked 200% year over year, with 74% of all gaming-related token launches being game titles. With the growing integration of blockchain-based economies in games, token launches increased.
Game7’s report does a fine job of giving an overview of where Web3 gaming sits today, but it also points out blind spots in how we currently measure blockchain gaming. The report mentioned that the problem with the wallet activity and on-chain data alone does not provide a complete picture of how the users participate. We would likely get a more reliable metric when monitoring development activity and the ecosystem’s growth.
In Web3 gaming, understanding evolving market dynamics was crucial, said Co-Founder Naavik Aaron Bush. ”As new Web3 games are ushering the dawn of the new era in the category, the model of understanding the market dynamics, technologies, and their best practices is essential for setting up tomorrow’s leaders,” he added.
On the user engagement front, the Web3 shooter game Off The Grid (OTG) recorded a significant rise, peaking at an all-time high of 207,450 unique active wallets (UAW) on November 12, as blockchain-based games became more popular.
The rise of Telegram as a critical platform in Web3 gaming and Ecosystem growth like Immutable and Arbitrum represents a fast-changing landscape of blockchain gaming.
The sector that still supplies much of the world’s transportation energy remains volatile but shows signs of both innovation and stability as developers and publishers look for alternative distribution channels and new technologies to explore. Year after year, the numbers emerged to measure the success of Web3 gaming funding, which continues to rise.
Home » Journal » ETH ETFs Soar While ARB Hits $150B DeFi Milestone – Qubetics Presale Phase 8 Lures Whales with 10% Price Increases Weekly!
The cryptocurrency market is excited with action as some of the most promising coins of the year continue to make headlines. With new developments unfolding every day, investors are keeping a close eye on which cryptos could yield the best returns. Today, Ethereum and Arbitrum are back in the news with some major milestones that are sure to stir up excitement.
While these two coins have captured attention, Qubetics ($TICS) is generating a storm of its own as it enters Presale Phase 8. The presale is a pivotal moment, with the $TICS token offering an opportunity for investors to join early in this blockchain revolution. With substantial funds raised and the price set to increase soon, there’s a rush to get in before the next phase. This article will dive into the latest on Qubetics, Ethereum, and Arbitrum, exploring what makes each of them the best crypto to join now—especially if you’re looking for that golden investment opportunity.
The Qubetics Wallet: Redefining Crypto Convenience
The Qubetics Wallet is set to change the game for crypto users by providing a versatile, intuitive, and secure platform for managing digital assets. Available on iOS, Android, and desktop, this wallet doesn’t just offer accessibility; it offers a seamless experience across devices. Users can easily manage their $TICS tokens alongside other digital assets, regardless of their preferred operating system, creating an effortless bridge between traditional and crypto finances.
This commitment to simplicity and inclusivity makes it a front-runner for the best crypto to join now.
Debit Card Integration and Mobile Payment Compatibility
Qubetics is also looking to collaborate with Visa and Mastercard to bring an added layer of flexibility to its Wallet, with debit card integration and compatibility with Apple Pay and Google Pay. This unique blend of traditional and crypto payment methods means users will be able to utilise $TICS tokens for everyday purchases with unprecedented ease. This feature strengthens Qubetics’ position as the best crypto to join now, especially for those seeking seamless ways to use their digital assets.
Presale FOMO Alert: Phase 8 Is Here, Don’t Miss Out this Best Crypto to Join Now
The buzz around Qubetics presale is hard to ignore. Currently, in Phase 8, Qubetics offers $TICS tokens at an attractive price of $0.0212. But here’s the kicker: with the next phase just around the corner, prices are set to rise by 10%. So far, over $1.85 million has been raised, and more than 1,900 investors have jumped on board, acquiring a whopping 167 million $TICS tokens. Once the presale ends, analysts predict a launch price of $0.25—a stunning 1079.25% ROI potential!
For those with a little extra to invest, the numbers are wild. A $500 investment today could secure about 23,584.91 $TICS tokens. And if this coin hits a future target of $10, that $500 would turn into a staggering $235,000! At $15, we’re talking a massive $353,000. This is the kind of ROI dreams are made of, making Qubetics a clear choice as the best crypto to join now. Don’t let this one slip by—you’re looking at a chance to ride an early wave that’s set to grow exponentially.
Ethereum ETFs Surge with Record-Breaking Inflows
Ethereum has made waves this week as the total flows into U.S.-based spot Ether ETFs flipped positive for the first time since July. BlackRock’s fund recorded an impressive $135.9 million net inflow on Nov. 12, following a record $295 million the previous day. This shift brought net flows for nine Ether ETFs up to a positive $107.2 million, marking a turnaround after months of net outflows from Grayscale’s Ethereum Trust.
With BlackRock’s iShares Ethereum Trust (ETHA) seeing its second-biggest inflow since launch, the crypto world is taking notice. Totalling $1.67 billion in inflows so far, BlackRock’s ETF has not seen a single day of net outflows since its launch, highlighting Ethereum’s continued appeal to investors who see it as a stable yet lucrative asset.
Arbitrum Soars with DeFi Growth and New Incentives
Arbitrum, a leading layer-2 solution for Ethereum, continues to show its strength as a top contender in the DeFi landscape. This week, it hit a new milestone, surpassing $150 billion in transaction volume on Uniswap. As of November, Arbitrum’s One TVL rose by 45%, reaching $2.8 billion from October’s $1.66 billion. To fuel further growth, the Arbitrum DAO is also voting on a $90 million incentives program aimed at attracting more developers to its ecosystem.
In terms of performance, Arbitrum’s ARB token saw a 27% price increase over the past week, now trading at $0.62. This surge highlights the ongoing demand for scalability and low-fee solutions in the Ethereum space. Despite token price fluctuations, Arbitrum remains a powerful force in DeFi, proving its place in the competitive layer-2 field.
Final Thoughts
The best crypto to join now could come down to where the next big gains lie. Ethereum and Arbitrum have shown resilience and growth, establishing themselves as critical players in their respective areas. But Qubetics ($TICS) is on the brink of something extraordinary, with a presale that combines accessible entry points and massive potential for growth. For early investors, the opportunity to get in at this stage—before the price spikes—could be a game-changer. As the clock ticks down to the next phase, now’s the time to act. Qubetics might just be the investment that defines your financial future. Don’t miss the presale; secure your spot in this rapidly growing ecosystem!
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Scallop dApp is excited to announce a new integration with Alchemy Pay. Alchemy Pay is a leading Fiat-Crypto gateway solution. This news was announced on Official X account of Scallop dAapp. Through this integration, users of Scallop can purchase $SCA and other tokens using their credit cards.
New Alchemy Pay Integration Enhances User Experience on Scallop DApp
Scallop dApp is a leading money market in the Sui Network. With this integration, the Web2 users can easily migrate into the crypto space. They can utilize their credit cards to purchase $SCA and other supported tokens. This makes the process easier and friendly for the users to accomplish.
As a result of the integration, the Scallop users no longer have to depend on complex procedures. They are not required to buy tokens through a third party, but rather buy tokens of the app. This is a very important progress towards the improvement of the on boarding process for new users.
Furthermore, the integration is supposed to close the gap between traditional financial systems and cryptocurrencies. Scallop uses the technology of Alchemy Pay to make it easier for Web2 users to enter the crypto space.
Alchemy Pay Integration Expands Payment Options for Scallop DApp Users
Alchemy Pay accepts multiple payment options to facilitate the success of online transactions. This comprises of credit and debit cards, and local payment methods. As a result, users from different areas will be able to enhance the experience. It also helps to consolidate Scallop’s position as a premier decentralized application.
Overall, this partnership represents a significant step for Scallop DApp towards its development. It adds a new dimension to users and enriches their experience on the platform. With this development, Scallop is now leading the decentralized finance space to create a new paradigm.
What’s the news: Game 7, a Decentralized Autonomous Organization (DAO), in partnership with Naavik, recently released the 2024 State of Web3 Gaming Report which highlighted Telegram’s emergence as a key platform for new web3 game launches and revealed a 17% rise in funding for the industry.
What’s the significance: The report shows that as web3 gaming expands, players and investors will have more choices with easy-access platforms like Telegram, a wider variety of indie games, and rewards for players.
The Big Picture: Web3 gaming is maturing as blockchain becomes more integrated, with small developers innovating while major platforms face regulatory challenges.
Key Details:
Game7 and Naavik publish the 2024 State of Web3 Gaming Report, analyzing over 2,500 blockchain games, 1,500 funding rounds, and 100 ecosystems across six years.
Report Highlights:
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Platform Usage
Telegram now hosts 21% of new web3 games, with publishers leveraging it for user acquisition.
Ecosystem & Regional Growth
Ecosystem: Immutable and Arbitrum grew significantly, with Immutable gaining 181 titles (+71%) and Arbitrum reaching 119 titles (+68%).
Regional Development: APAC leads with 39% of new web3 games, followed by the U.S. at 36%, with U.S. developers accounting for 27% of all web3 games.
Industry Trends
New blockchain gaming chains are being launched more often than new game content
Only 45% of Web3 games are currently playable, and just 34% have active blockchain integrations, signaling integration challenges.
Distribution Shifts
Epic Games Store added 81 web3 games, while console platforms like Sony and Microsoft remain hesitant on blockchain integration.
Development & Funding Trends
Indie teams dominate, with over 90% of launches, primarily in RPGs, casual, action, and strategy genres.
Funding: Web3 gaming funding increased by 17% year-over-year, with emphasis on smaller funding rounds and token launches.
Between the lines: Telegram is becoming popular for game distribution as restrictive app store policies limit other options.
What’s next: Game7’s Developer Program aims to support player-centric projects, focusing on long-term industry growth by funding and empowering indie developers, potentially leading to the next ‘Axie moment’ in web3 gaming.
The bottom line:The focus on infrastructure over game content indicates that while blockchain gaming is evolving, developers still face significant challenges in creating and integrating functional games.
Full report: Get a copy of the full the Game7’s 2024 State of Web3 Gaming Report here.
Worth reading: In 2022, Game7 partnered with MetaMask to create HyperPlay, a web3-native game launcher, allowing players to seamlessly integrate their wallet, NFTs, and tokens into any game, enabling permissionless interoperability across Web3 gaming.
Kava, a DeFi ecosystem, has introduced HARD.fun, a decentralized platform for creating meme coins that aims to fairly distribute their value within communities.
With Kava, users can lend, borrow and trade digital assets, and the new HARD.fun platform takes this further by automating token creation through an AI-powered chatbot.
This chatbot interacts with Kava Chain and any EVM or Cosmos-based networks to create custom tokens based on user specifications.
Additionally, Kava AI can help manage community interactions by enabling AI agents to post updates directly to social media.
With Kava Chain’s cross-chain bridge, meme coins launched on HARD.fun can span multiple blockchain ecosystems, including Kava EVM, Ethereum, Cosmos and eventually BNB Chain, Solana and Tron.
The platform also allows users to define tokenomics and participate in governance decisions about HARD.fun’s future goals and features, making it accessible for wide community engagement in meme coin creation and management.
Proof of Play, the maker of Web3 game Pirate Nation, announced today the launch of Season 3 on November 14.
The update will feature two new leaderboards with several exciting gameplay elements, from guilds to large player-versus-environment (PvE) events in the pipeline. At the same time, the Pirate Nation Foundation has introduced a revamped staking experience which rewards players for their long-term commitment.
Building on the success of previous seasons, Pirate Nation has driven over 300 million onchain transactions across Proof of Play’s Apex and Boss chains since the launch of Season 2 and also more than doubled its active player base since Season 1. The company isn’t saying how many users it has.
Pirate Nation banner
Pirate Nation is a fully onchain free-to-play pirate-themed roleplaying game built on Proof of Play’s Apex and Boss chains, which rank among the top three chains globally by real world activity.
Due to the game’s popularity, Apex reached its maximum capacity, leading Proof of Play to launch additional chains, starting with Boss Chain, to support the growing community. This multichain architecture aims to support millions of players by connecting optimized, high-performance chains that deliver seamless composability and ultra-fast block times for an exceptional gaming experience.
Season 3 brings a range of new content and features that enhance gameplay, provide fresh challenges, and expand customization options. The crafting system has been expanded, adding depth to the game’s economy via new crafting mechanics and new valuable in-game items.
Pirate Nation Season 2’s results.
Players will experience refreshed gameplay depth and progression as the Pirate and Ship level caps have been raised to 35 and five respectively, allowing players to reach new levels of strength to battle enemies, gather loot, and race to conquer the high-seas.
Two new leaderboards—Social and Collector—have also been introduced alongside the existing Booty Leaderboard. The Booty Leaderboard ranks players on skill and gameplay, the Collector Leaderboard on in-game assets and ownership, and the Social Leaderboard on likes, retweets, and referrals.
Players who stake their tokens over extended periods now benefit from an incrementing multiplier, which grows the longer they hold. Designed to deepen engagement, this new staking experience encourages players to stay invested in the Pirate Nation ecosystem, earning Proof of Play points that contribute to a range of in-game rewards and future benefits.
“With the launch of Season 3, we’re moving closer to realizing our vision for Proof of Play as an advanced onchain infrastructure that supports millions of gamers,” said Amitt Mahajan, CEO of Proof of Play, in a statement. “The Proof of Play engine, which powers Pirate Nation, isn’t just another gaming chain—it’s a cutting-edge onchain game engine designed to enable developers to build games onchain faster than offchain. We’re developing a powerful, decentralized foundation for the next generation of onchain games, starting with Pirate Nation.
Coming soon, players will be able to join guilds to collaborate and compete with friends and ally pirates, as well as experience new and engaging PvE content together, teaming up against powerful bosses to earn rewards.
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Solana’s Potential for DeFi Dominance in Doubt; FXGuys Dominates Investors’ Watchlist for Q4 h3>
Solana’s capability to head the DeFi sector has come under scrutiny. The platform has been promoting itself as capable of global-scale transactions on a single chain, but now it’s looking at Layer 2 solutions to improve scalability. Its recent shift from a single-chain model to network extensions has raised concerns about Solana’s ability to serve as a global financial backbone.
Meanwhile, FXGuys ($FXG) has become one of the high-potential altcoins on investors’ watchlists. Investment interest in FXGuys continues to grow stronger, showing its potential to outperform in Q4. Thanks to its innovative DeFi offerings, FXGuys is getting massive support, making it the best crypto to buy now.
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Solana’s (SOL) Reach For DeFi Dominance Might Not Happen
Solana’s scaling approach has shifted, with the platform moving from a monolithic single-chain model to Layer 2 solutions known as network extensions. They’ve discovered that they can’t process global transactions independently and adopted Ethereum’s successful L2 strategy. Unfortunately, centralization and scalability issues are still big issues for Solana.
Some of Solana’s barriers are technical bottlenecks, such as its dependence on a single client and the delayed release of Firedancer, its second client. These issues have affected its capacity to carry out decentralized operations and increased its need for high bandwidth. Frequent outages and lack of protocol-level final backup have created centralization risks and limited accessibility.
Concerns over Solana’s insider-heavy token distribution also complicate its goal of decentralization, as roughly 98% of initial allocations were insider-held. With large firms like Coinbase and Visa backing Ethereum’s L2 solutions, the shift toward Ethereum’s ecosystem suggests Solana’s market share could diminish. Although it’s still one of the trending altcoins, Solana’s potential for DeFi dominance faces growing doubt among investors.
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FXGuys ($FXG) Offerings Shows Strong Appeal As The Best Crypto To Buy Now
FXGuys is a prop firm with a DeFi-focused approach that combines prop trading benefits with a unique Trade2Earn. By holding $FXG tokens, traders gain access to a prop account with up to $500,000 in capital, allowing them to participate in crypto and forex markets. Each trade rewards users with additional $FXG tokens, providing a recurring income stream for active traders.
The platform also offers staking rewards, with 20% of the trading revenue allocated to $FXG token holders who stake their assets. This model aligns well with the goals of passive investors seeking steady returns, making FXGuys the best crypto to buy in the DeFi market. FX Guys’ innovative offering of no KYC requirements and quick payouts in crypto has earned it the support of investors worldwide.
The FXGuys presale is currently in the first stage, selling $FXG tokens at just $0.03. This low entry price has attracted lots of attention, with investors expecting gains as $FXG targets a listing price of $0.1. As one of the top trending altcoins, FXGuys is positioned to become a top DeFi platform, offering life-changing returns for those investing early.
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Conclusion
Although Solana’s shift to Layer 2 solutions has raised questions about its capability, SOL is bullish. Meanwhile, the FX Guys continue winning investor interest with their innovative DeFi features. With its presale success and strong investor support, FXGuys stands out as one of the high-potential altcoins for those looking to profit from DeFi growth in Q4.
To find out more about FXGuys follow the links below:
Website | Whitepaper | Socials | Audit
Exclusive FXGuys Promo Code:
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Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.
The makers of Ethereum-based combat arena game Moonray announced that they will release the free-to-play title on PlayStation 5 next year. However, citing Sony’s policies, the game will be launching on the console without Web3 features.
On PC via the Epic Games Store, the game has already run a play-to-airdrop campaign, which saw gamers complete challenges to earn a chunk of its soon-to-launch MNRY token—and those who own the project’s NFT got an extra bonus. A similar system will be put into place with the mobile auto-battler that Moonray is set to release early next year.
But this will not be the case for the PS5 version of the arena combat game, at least from the outset.
“We make sure to comply with the rules and conditions put forth by each platform we are working with. These rules differ between them, especially when it comes to Web3 elements,” a Moonray spokesperson told Decrypt. “The PS5 version of the game will not feature any Web3 elements at this stage.”
Moonray originally launched as a metaverse role-playing game, which was being built on Bitcoin layer-2 network Stacks. The project soon rebranded to a multiplayer competitive battler built on Ethereum, while remaining set in the same “post-human” world. Players are dropped into an arena equipped with swords, weapons, and powers to defeat their opponents in a range of game modes.
Launching on Sony’s console will offer Moonray another opportunity to reach players, but without the core crypto features that have helped define its launch thus far.
“For Web3 to reach broad adoption. there really has to be a serious conversation about where you find your users,” a Moonray spokesperson told Decrypt. “For gaming, consoles are incredibly important platforms to reach a broad gaming audience.”
However, the game’s crypto integration still hasn’t been completed. Off the Grid developer Gunzilla Games is launching its own Avalanche L1 chain (aka subnet), which is currently running as a testnet, and it appears that wallets are being created on the back end and transactions are being made for certain in-game actions.
Off the Grid’s NFT integration and GUN token are not yet live in the game, and Gunzilla has yet to clarify how that functionality will work on consoles. The studio has not responded to Decrypt’s recent attempts to seek clarification on that front, after previously declining to provide details earlier this year.
“Currently, we are not ready to disclose all the inner workings and would like to keep the specifics of these mechanics confidential until the game officially releases,” Gunzilla Games told Decrypt in March. “This decision not only helps us protect our unique ‘secret sauce’ from competitive pressures, but also aligns with our commitment to providing traditional gamers, who are our primary audience, with an unparalleled quality of gameplay.”
While the initial success of Off the Grid has generated excitement over the future of crypto gaming on consoles, the continued mystery around the integration has left onlookers continuing to wonder about the path forward on PlayStation and Xbox.
No specific date has been set for Moonray’s console launch, but the team confirmed to Decrypt that it has just started porting the title from PC to PS5. With this, the team plans to “conduct testing” in the second half of 2025, although it’s unclear whether that will be public or private.
SINGAPORE – Media OutReach Newswire – 12 November 2024 – Leading digital asset exchange, Coinut, is proud to announce the launch of Wrapped Litecoin ($WLTC) today, November 12. This groundbreaking development integrates Litecoin into the vibrant world of decentralized finance (DeFi) via the Ethereum network.
An ERC-20 token, $WLTC acts as a simple bridge between the Litecoin and Ethereum ecosystems. As the oldest surviving altcoin, Litecoin’s 13 years of uninterrupted network activity has earned it a reputation as one of the most trusted and active digital assets globally. Wrapped Litecoin (WLTC) is a token that is pegged 1:1 with Litecoin, meaning each WLTC is backed by an equivalent amount of Litecoin, ensuring its value remains consistent with LTC. By wrapping Litecoin, users can now take advantage of Ethereum’s extensive DeFi ecosystem without selling their LTC. This opens up a variety of decentralized exchanges (DEXs) and thus unlocks greater liquidity for user assets. The main advantages for most will be earning interest, borrowing funds, and leveraging assets in numerous DeFi protocols. WLTC can be staked, and thus earn rewards, on various Ethereum-based DeFi platforms that support staking. WLTC also opens the door to smart contracts. By standardizing Litecoin into the ERC20 format, WLTC facilitates the integration of Litecoin transfers into smart contracts. This simplifies the development of decentralized applications (DApps) and enables more efficient execution of complex transactions involving Litecoin.
“Litecoin is trusted by millions. Now, with Wrapped Litecoin, these users can access Ethereum’s ecosystem seamlessly and confidently” – Xinxi Wang, Coinut
Wrapped Litecoin benefits include:
Cross-Chain Interoperability: allowing Litecoin users to engage with Ethereum-based applications and services. In bridging between the two blockchains, Wrapped Litecoin plays an important role in enhancing Litecoin’s utility;
Access to DeFi Applications & Services: giving Litecoin holders the ability to leverage their assets in ways not native to the Litecoin blockchain, like staking, lending/borrowing and yield farming;
Enhanced Liquidity: by allowing access to ‘Litecoin’ on ETH-based decentralized exchanges (DEXs).
Coinut has partnered with Fireblocks and Coinbase to utilize third-party services for safeguarding of crypto assets, with cold wallet storage (Coinbase) for enhanced security and hot wallet storage (Fireblocks) for efficient transactions. Throughout WLTC’s development, Coinut consulted with the Litecoin Foundation – a nonprofit organization dedicated to the adoption and development of Litecoin. The Foundation is supportive of projects that bring utility to the Litecoin ecosystem and is excited about what WLTC could bring to the future of Litecoin. Learn more about the Wrapped Litecoin project at www.WrappedLitecoin.org
