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Metacade Presale Passes $2 Million – Only $690k Remaining Before It Sells Out

by Blockchain NewsJanuary 10, 2023

London, United Kingdom, 10th January, 2023, Chainwire

Metacade has exceeded expectations as investors flocked to its presale to purchase MCADE tokens, raising over $2 million for the GameFi project.

The beta stage of the presale saw $1 million pour in over a matter of weeks and momentum has continued despite the 25% increase in token price. There is now only $690k remaining of the token at $0.01 before the price rises 20% in the next round.

$MCADE is available to buy on the official Metacade website.

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Metacade is the world’s first community-run play-to-earn (P2E) arcade built on blockchain. The Ethereum-backed metaverse project will offer a thriving GameFi hub for gamers and crypto enthusiasts alike. It will be a place to earn, learn and connect with like-minded individuals while playing some of the hottest P2E games that GameFi space has to offer.

Built to last, the Metacade roadmap showcases the project’s ambition and longevity. Beyond its stellar blockchain game offering, the platform will host leaderboards, trending games, GameFi alpha, and much more to keep the community engaged. To further show its support to the gaming community the platform will launch a jobs board to help people new roles in Web3 and a Metagrants initiative to support game developers keen to build on the platform.

MCADE, the platform’s native token, will power activity and transactions on Metacade. Players will use it to access pay-to-play games and be rewarded for their gaming efforts in MCADE. There will be further earning opportunities through competitions and tournaments, sharing gaming alpha, and writing reviews. Staking will also be an option for MCADE holders wanting to top up their income.

MCADE has a fixed token supply of 2 billion tokens, with seventy percent of these being made available during the presale. The other thirty percent of these tokens have been reserved for development, liquidity provisions, competition pool funding, and exchange listings.

MCADE will soon be listed on Bitmart, one of the world’s largest cryptocurrency exchanges, which is ranked 21st in the CoinMarketCap exchange rankings. Metacade signed the terms with the Singapore-based digital asset exchange in December 2022 and shared the news on its Twitter account. This is just the beginning for the MCADE token as the team has revealed they are in talks with other crypto exchanges and have a top 10 exchange listing announcement coming soon.

Head of Product for Metacade Russell Bennett said: “The Bitmart listing will give millions of people easy access to the MCADE token in a secure and safe trading environment. The public listing will propel awareness of Metacade and help the project gain further traction and following. With another popular exchange announcement soon to be revealed, we’re thrilled by the spectacular welcome Metacade has received from the GameFi space.”

The P2E GameFi platform has the stamp of approval from leading blockchain auditing firm Certik. Metacade joins the ranks among Polygon, ApeCoin, and BNB Chain as a trusted platform in the crypto space. Certik employs cutting-edge technology and mathematics to analyze and evaluate the specification and code of blockchain projects. The auditors also carried out a full KYC of the Metacade team to ensure they are genuine and provide further transparency of the project. The full audit results are available on the Certik website.

The Metacade presale has now sold over $2 million worth of tokens in under 7 weeks and at the time of publishing has under 25% remaining.

About Metacade
Metacade is the premier destination for gaming in the metaverse. As Web3’s first community arcade that allows gamers to hang out, share gaming knowledge and play exclusive P2E games. The platform offers users multiple ways to generate income, build careers in Web3, and connect with the wider gaming community.

Leading investing site Invezz has called Metacade: “A place where GameFi and the Metaverse intersect, with the potential to be one of the biggest names in its space, and potentially the industry overall”.

Metacade will be the one-stop destination for users to play, earn, and network with other passionate gamers worldwide. Once the project reaches the end of its roadmap, Metacade will be handed over to the community as a full-fledged DAO. After all, Metacade wants you to have a hand in shaping the GameFi world of tomorrow.

Links
Website | Whitepaper | Socials | CertiK Audit

Contact

Head of Product
Russell Bennett
Metacade
pr@metacade.co
Source

Russia Begins CBDC Settlement Mechanism While Sanctions Continue

by Blockchain NewsJanuary 10, 2023

There are continuous sanctions against Russia as a result of its invasion of Ukraine; yet, reports indicate that Russia’s central bank is about to begin building a cross-border settlement system that would use a central bank digital currency (CBDC).

According to a report that was published on January 9 by a local media outlet called Kommersant, the plans to move forward with Russia’s digital ruble are expected to come in the first quarter of 2023. Russia’s central bank will study two possible cross-border settlement models before moving forward with the plans.

In the initial version of the plan that has been suggested, different nations would integrate their CBDC systems by entering into separate bilateral agreements with Russia.

The second, more sophisticated approach suggests establishing a single hub-like platform on which Russia and other nations may engage with one another, sharing common protocols and standards to make it easier for linked countries to make payments to one another.

The other possibility was more developed, and he mulled over the possibility of implementing an initial two-way system, with China serving as the most probable partner due to the country’s advanced political and technical preparedness.

According to reports from the month of September, Russia’s plans to utilize its digital currency for settlements with China are reportedly expected to take place sometime in 2023.

Still, there are many who are of the opinion that Russia’s CBDC play will not be hampered by technological limitations, but rather by political ones.

Alexey Voylukov, the vice president of the Association of Banks of Russia, stated that the introduction of a digital ruble will not change or improve the global political situation of Russia, and that trials for the CBDC platform can only be undertaken with countries that are friendly with the Russian government and are technologically ready. He also stated that the trials for the CBDC platform can only be undertaken with countries that are friendly with the Russian government.

However, the Bank of Russia had said that it intended to launch its digital currency by the year 2024, with all banks and credit institutions being linked to the network that is maintained by the CBDC.

Since Russia began a full-scale invasion of Ukraine in late February 2022, which marked an escalation in the conflict between Russia and Ukraine, Russia has been subjected to an increasing number of economic and commercial sanctions.

Since then, it has experimented with and mulled over methods to sidestep the sanctions, such as the country’s central bank mulling over the possibility of using cryptocurrencies in the country just for the purpose of supporting international commerce.

In September, the Bank of Russia and the Ministry of Finance reached a consensus on a law that would enable Russian citizens to transmit payments across international borders using cryptocurrencies.

Source

Tagged : 2024 / CBDC / KOMMERSANT / News / RUSSIA’S CENTRAL BANK

CFTC sues Avraham Eisenberg for Mango market manipulation

by Blockchain NewsJanuary 10, 2023

A self-described digital artist by the name of Avraham Eisenberg was charged with two counts of market manipulation in connection with an exploit of a decentralized finance platform known as Mango Markets on January 9, 2019, when the United States Commodity Futures Trading Commission (CFTC) filed a lawsuit against him. The lawsuit was filed on January 9, 2019.

After being detained on December 27 on suspicion of involvement in the investigation-related crimes, Eisenberg was transported to jail that day.

The Commodity Futures Trading Commission (CFTC) has filed a lawsuit against Eisenberg, alleging that he participated in a fraudulent and deceptive scheme to artificially inflate the price of swaps made available by Mango Markets, which ultimately led to the theft of more than one hundred million dollars from the platform in October. The suit alleges that Eisenberg artificially inflated the price of swaps made available by Mango Markets.

Eisenberg made a transaction on Mango Markets that amounted to more than 400 million MNGO-USDC Swaps with a position size of around $19 million. After that, Eisenberg made substantial purchases of Mango’s MNGO token on the three exchanges that serve as oracles for Mango.

As a consequence of this, the price of MNGO went up, and Eisenberg borrowed digital assets from Mango Markets with a total value of around 144 million dollars at the new, higher price.

The price of MNGO fell, causing Mango Markets to be left without any liquid assets.

Eisenberg stated in a tweet that was sent on October 15 that he was the one who took advantage of the Mango Markets system, but he insisted that what he did was not illegal and that it was within his rights to do so.

After Eisenberg had earlier filed a covert request for a bug bounty for 70 million USD Coin, which is equivalent to $70 million, this event took place as a result of it.

Members of the Mango Markets community came to the conclusion that it would be in everyone’s best interest to withdraw all criminal proceedings against him and instead let him keep $47 million.

On the other hand, Eisenberg was seized on December 27 by the United States Department of Justice, which then proceeded to charge him with one count of commodities fraud and one count of commodities manipulation.

The Commodity Futures Trading Commission (CFTC) asserts that the individual in question violated a number of commission policies in addition to the Commodities Exchange Act.

Source

Tagged : AVRAHAM EISENBERG / Cftc / Mango Markets / News

BlockFi Will Submit Assets And Liabilities For Bankruptcy On January 11

by Blockchain NewsJanuary 10, 2023

In a recent announcement, the cryptocurrency lending company BlockFi stated that it will provide information regarding its assets and liabilities, in addition to the payments that it received prior to its bankruptcy filing in November.

BlockFi stated that it had provided its stakeholders with a presentation in which it detailed its intentions for future court filings and provided a breakdown of the bankruptcy proceedings. BlockFi also provided a breakdown of the bankruptcy proceedings.

The lending company claims that shortly after the company’s initial bankruptcy hearing in November, it made contact with 106 potential buyers. On January 30, the company will ask the court for permission to proceed with the bidding process and will ask for approval from the court regarding the bidding process. Both of these requests will be made in relation to the bidding process.

To be more specific, the company stated that no members of the BlockFi management team had withdrawn any cryptocurrency from the platform since October 14 and that none of them had “made a withdrawal bigger than 0.2 BTC in value at any time” since August 17. This information was provided in a blog post that was published on the company’s website.

In addition, the company stated that following the acquisition of a revolving credit line for $400 million from FTX US in July, it had increased basic wages and paid retention incentives for specific personnel.

On January 11, BlockFi announced that it planned to provide a summary of its financial affairs, in addition to providing an account of its assets and liabilities.

The announcement was made after the United States Department of Justice informed the judge overseeing the bankruptcy of BlockFi that it had seized more than 55 million shares of Robinhood. At the time of publication, these shares had a value of approximately $450 million. The criminal case against the cryptocurrency exchange FTX and the executives of the company resulted in the seizure of the shares.

The next scheduled meeting for the public hearing regarding the FTX bankruptcy case is scheduled for the 11th of January. On the other hand, an all-encompassing hearing for BlockFi is scheduled for the 17th of January.

Source

Tagged : Bankruptcy / Blockfi / Department Of Justice / News / Robinhood

Flare Launches Layer 1 Oracle Network

by Blockchain NewsJanuary 10, 2023

Dubai, UAE, 10th January, 2023, Chainwire

Flare, the blockchain for building applications that use data from other chains and the internet, has successfully completed its long-awaited token airdrop at 11:59 pm UTC on January 9th. The airdrop saw 4.279B Flare (FLR) tokens distributed to millions of recipients, including users on Binance, OKX, Kraken, Bithumb, UpBit, Kucoin, BitBank, & more, in one of the largest scale distributions in crypto history.

The airdrop is a significant milestone for Flare as developers can now start to take advantage of Flare’s EVM and native data acquisition protocols, the State Connector and Flare Time Series Oracle. These native protocols, secured by the network, provide decentralized access to high-integrity data from other blockchains and the internet, enabling the creation of new use cases and monetization models.

Hugo Philion, CEO & Co-founder of Flare said,

“For the blockchain industry to flourish, we need more useful decentralized applications. Flare is tackling this through data, not just prices but transaction details, Web2 events etc, so that developers can build applications that provide more utility to a larger group of users.”

Hugo continues, “Flare’s objective is to enable developers to build applications that securely access more data. This could enable new use cases to be built, such as triggering a Flare smart contract action with a payment made on another chain, or with input from an internet/web2 API. It also facilitates a new way of bridging, specifically to bring non-smart contract tokens to Flare for use in applications like DeFi protocols.”

Flare’s State Connector protocols enable information to be used securely, scalably and trustlessly with smart contracts on Flare. This offers the most powerful class of data on the network and enables more cross-chain solutions to be built. The State Connector derives its safety from combining a decentralized set of attestors with a binary forking protocol, which allows for a malicious majority of data providers to be challenged. In contrast to a proof of stake based system where data providers are obliged to stake value, the security of the State Connector is not limited by the amount staked in the system. This means that the State Connector is invariant in its safety relative to the size of a transaction, this offers a secure system capable of handling large amounts of value.
The Flare Time Series Oracle (FTSO) utilizes the network structure to deliver highly decentralized prices and data series to dapps on Flare without relying on centralized data providers. The FTSO is a highly decentralized data feed oracle, with almost 100 independent data providers incentivized to provide reliable data every 3 minutes.

The Flare token distribution represents the first 15% of the full public token distribution, with the remainder to be distributed on a monthly basis over 36 months. The method of allocation of the remaining 85% of token supply depends on the outcome of a community vote on Flare Improvement Proposal 01 (FIP.01).

About Flare
Flare is the Layer 1 oracle network that allows developers to build applications that are interoperable with blockchains and the internet. By providing decentralized access to high-integrity data, Flare enables new use cases and monetisation models.

Flare’s State Connector protocols enable information, both from other blockchains and the internet to be used securely, scalably and trustlessly with smart contracts on Flare.

The Flare Time Series Oracle delivers highly-decentralized price and data feeds to dapps on Flare, without relying on centralized providers.

Build on Flare with more data than ever before or build with Flare to serve multiple ecosystems.

Website | Twitter | Telegram | Discord

Contact

Nadav Dakner
nadav@marketacross.com
Source

Tagged : FLARE / Network / Oracle / Press Release