XRP and FLR Token Holders Primed for Yet Another Airdrop

XRP holders who received Spark tokens during the Flare Network launch will soon be able to claim a second airdrop. Airdrop for Spark Token Holders  Smart contracts provider Flare Network announced it would airdrop its native Spark tokens to all XRP holders in December last year. Now, there may be another opportunity for those who also participated in the Spark airdrop.  Flare Finance, a DeFi project building on the Flare Network, announced the distribution of its DAOFlare (DFLR) tokens. One month after the Flare Network goes live (end of Q1…

Coinbase Custody Lists Heavyweight DeFi Token mStable

Coinbase Custody has enabled deposits and withdrawals for mStable’s MTA token. It is the fourth project to earn a listing this year. Previously, Coinbase added DeFi tokens BarnBridge, Rally, and Ankr. Coinbase Custody Now Supports mStable mStable is a collection of autonomous, decentralized, and non-custodial smart contracts built on Ethereum. It was created to solve the issues faced by stablecoins users. MTA is the governance token of mStable’s platform. Users can stake their tokens to govern the protocol and yield farm the MTA token using the Save or Earn features…

Voyager Token (VGX) gains 926% as mergers and acquisitions bring new users

Voyager Token (VGX), also known as BQX at some exchanges, is the native token of Voyager cryptocurrency exchange.  The exchange separates itself from its competitors by claiming to be a commission-free crypto broker platform and its smart order router also allows clients to trade at multiple exchanges. Since the turn of the year, VGX has gained 620% and on Jan. 15 the token reached a new all-time high at $1.48. Voyager (BQX) token price at Binance. Source: TradingView In addition to having a fiat gateway, the platform also offers market…

Yearn.finance team proposes $225 million YFI token mint

After a week of at times rancorous debate, an 11-author team of Yearn.finance core contributors and community members have submitted today a proposal to increase the supply of YFI by 6666 tokens — a quantity worth roughly $225 million at today’s prices. The proposal is the culmination of a wider discussion about developer incentives for decentralized finance’s (DeFi) original yield vault project. While the Twitter discourse revolved around memes and namecalling, on Yearn’s governance forum debate of the pros and cons of a mint were far more sophisticated. Community members…

Coinbase Custody Lists Second DeFi Token of 2021

Coinbase Custody has enabled deposits and withdrawals for Rally’s RLY token. Amid the latest wave of political censorship, Rally is taking on larger technology companies and aid independent content creators in monetizing their work. Coinbase Rallies Creators Rally joins Coinbase’s custodian service. It is the second project to get listed on the platform in 2021, the first being BarnBridge. Coinbase Custody offers institutional investors the ability to store their crypto-assets safely. RLY is a governance token that can be used to vote on community proposals and make transactions on the…

Projects weigh security risks, benefits of liquidity pool token collateral

Multiple decentralized finance (DeFi) projects are moving forward with plans to allow liquidity provider tokens as collateral for stablecoin and lending services — though experts caution that the security considerations associated with using LP tokens in this manner can be complex.  LP tokens are distributed to liquidity providers on automated market makers (AMMs) to represent a provider’s stake in a liquidity pool. Providers are incentivized with trading and protocol fees that are paid out upon withdrawal. While they’re often the last stop in a cycle of yield farming transactions, multiple…

Enjin Coin surges 71% after becoming first regulatory approved gaming token in Japan

On Jan 19, Blockchain-based Enjin Coin (ENJ) became the first gaming cryptocurrency to be legally authorized for trade by the Japanese Virtual Currency Exchange Association (JVCEA). This coincided with a sudden 71% increase to the coin’s dollar value which occurred within just 9 hours, and saw the ENJ coin price jump from $0.236340, up to a 3-year high of $0.406356. ENJ/USD. Source: CoinMarketCap.com “Enjin Coin has been approved by the JVCEA and will be listed on Coincheck exchange, making it the first gaming token authorized for use in Japan,” said…

Is Chainlink Centralized? A Breakdown of Token Distribution

Key Takeaways Chainlink node operators hold 35% of the supply, the team holds almost 25%, and exchanges hold 16%. Funds held by the team are aimed towards bootstrapping development. No wallet outside of teams, nodes, or exchanges holds over 1% of funds. The DeFi news category was brought to you by Ampleforth, our preferred DeFi partner Share this article Alex Svanevik, CEO of the Nansen blockchain AI firm, chastised media today for skirting over important details and spreading “FUD” regarding Chainlink’s token distribution. Hey @Cointelegraph may I recommend you get…

Binance Coin (BNB) hits a new all-time high one day before its token burn

Over the past 6 months, Binance Coin (BNB) has been quietly rallying higher, gaining 189% during this period and notching a new all-time high at $46.90 on Jan. 18. This price peak happened just one day before its quarterly token burn, leading investors to question whether or not BNB price will move higher once the event concludes.  A token burn is a permanent removal of coins from circulation and this deflationary technique is a common practice used by many projects in the crypto sector. As Cointelegraph reported, the process does…

3 reasons why the price of Curve DAO Token (CRV) tripled in a week

Over the past two weeks the entire DeFi sector has been in a strong uptrend and many of the top market cap tokens rallied by double and triple-digits. Curve DAO’s governance token CRV has been a standout performer, coming off a low at $0.54 on Jan. 11 to a 2021 high at $1.78 on Jan. 17. CRV/USDT 4-hour chart. Source: Tradingview Three reasons for this latest surge in volume and price for CRV are a new collaboration with the Yearn.finance (YFI) ecosystem, positive regulatory developments in the U.S. and an…