Famous Game ChuanQi IP Launches Blockchain-Based MORPG, MIR2M: The Dragonkin, in 170 Countries

ChuanQi IP, a subsidiary of Wemade, has recently released a promotional video for its new blockchain-based Multiplayer Online Role-Playing Game (MORPG), MIR2M: The Dragonkin. The video was revealed on the company’s official YouTube channel and provides a glimpse into the narrative of the MIR2M series.

Wemade, the parent company of ChuanQi IP, is a well-established entity in the gaming industry. The company has a diverse portfolio of games, ranging from traditional online games to mobile and blockchain-based games. Wemade’s commitment to innovation and the integration of emerging technologies like blockchain into its gaming platforms is evident in its recent ventures.

The promotional video for MIR2M: The Dragonkin runs for about 30 seconds and showcases a high-charged human camp preparing for a battle against evil spirits. It also provides insight into the origin stories of the professions in the continent of Mir. Unlike MIR2M’s previous game, The Warrior, which offered only one profession (Warrior), The Dragonkin supports all three professions (Warrior, Mage, Taoist) at the same level as the original title, The Legend of Mir 2.

Pre-registration for the game is currently available on Google Play, Apple Appstore, and the official website of MIR2M: The Dragonkin. All those who pre-register will receive Septaria, a crucial material for crafting CQB tokens dedicated to the MIR2M series, and CQB License items. In addition, there is an ongoing CQB airdrop event, where CQB is awarded by lot when completing missions such as visiting the official website or YouTube channel.

MIR2M: The Dragonkin will be serviced in about 170 countries through Wemade’s global blockchain gaming platform, Wemix Play. This platform is a testament to Wemade’s commitment to leveraging blockchain technology to create a more transparent and fair gaming environment. It allows players to own their in-game assets as non-fungible tokens (NFTs), enabling them to trade these assets freely on the open market.

The release of MIR2M: The Dragonkin and its promotional video marks another milestone in Wemade’s journey to revolutionize the gaming industry with blockchain technology. More information about the game will be sequentially revealed on the official website and YouTube channel.

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Crypto Trading Lesson 1 – Understanding the Fundamentals: Probability

Trading is a multifaceted activity that necessitates a profound understanding of various concepts and strategies. While the ultimate objective of trading is to generate profits, achieving this goal entails more than just the basic principle of buying low and selling high. The core concepts of trading encompass probabilities, risk management, opportunity identification, relative mispricing, and more.

In this first lesson, we will delve into the concept of Probability, a fundamental aspect of trading, which includes the Win Rate (Win/Loss Ratio), the Odds Ratio (Risk-Reward Ratio), and the Risk of Ruin (Position Sizing, Bankruptcy Rate).

Win Rate (Win/Loss Ratio):

The win rate in trading refers to the proportion of trades that yield a profit. It’s calculated by dividing the number of winning trades by the total number of trades. 

For instance, if a trader executes 10 trades and 8 of them yield a profit, the win rate would be 80% (8 profitable trades / 10 total trades = 0.80 or 80%). 

If the potential loss and gain in a trade are equal, a higher win rate is generally more desirable. However, it’s important to note that a high win rate doesn’t necessarily equate to overall profitability. When the potential loss differs from the potential gain, another concept comes into play: the odds ratio. 

Odds Ratio (Risk-Reward Ratio):

This is the ratio of potential profit to potential loss in each trade. A favorable odds ratio, where the potential profit is high and the potential loss is low, can offset a lower win rate, as the profits from successful trades outweigh the losses from unsuccessful ones. Conversely, an unfavorable odds ratio can diminish the profits from a high win rate.

For example, let’s say you’re trading a particular cryptocurrency and you’ve identified a potential trading opportunity. You’ve decided that you’re willing to risk 100 USDT on this trade because, based on your analysis, you believe the price is going to go up. You set your stop-loss order 100 USDT below your entry point. This is the amount you’re willing to risk. On the other hand, you set your take-profit order 300 USDT above your entry point. This is your profit target. In this case, your risk-reward ratio is 1:3. You’re risking 100 USDT for the potential to make 300 USDT.

Risk of Ruin (Position Sizing, Bankruptcy Rate):

This refers to the likelihood of losing a significant portion of your trading capital to the point where trading becomes unsustainable. The risk of ruin is influenced by factors such as the size of each trade relative to your total capital, the riskiness of the trades you make, and the number of trades you execute. Effective position management and capital management can help to mitigate the risk of ruin.

For instance, let’s say you have 1,000 USDT to trade. If you risk 500 USDT (50% of your capital) on a single trade and that trade results in a loss, you would be left with only 500 USDT. If you continue to risk 50% of your capital on each trade, you could quickly exhaust your trading capital. However, if you risk a smaller amount, such as 10 USDT (1% of your capital) on each trade, you could endure a series of losses, but you may not make a significant profit even if the trade is successful.

By deeply understanding these concepts and applying them to your trading, you can enhance your chances of success and mitigate your risk of loss. Remember, trading is not a one-time event, but a long-term activity. It’s crucial to ensure that, like a casino, the odds are consistently in your favor over the long run. The rest hinges on discipline and how to identify opportunities where probability is on your side.


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EminiFX CEO Sentenced to Nine Years for $240 Million Crypto Fraud Scheme

Eddy Alexandre, the CEO of a purported cryptocurrency and forex trading platform known as EminiFX, has been sentenced to nine years in prison for a $240 million fraud scheme. The sentencing was announced by Damian Williams, the United States Attorney for the Southern District of New York, on July 19, 2023.

Alexandre was found guilty of defrauding over 25,000 investors of more than $248 million through the EminiFX trading platform. The fraudulent scheme was operational from September 2021 to May 2022. Alexandre had promised investors high returns of at least 5% weekly through a “Robo-Advisor Assisted account” for automated investments in cryptocurrency and forex trading. He claimed this technology was his “trade secret” and refused to disclose any details about it.

However, the reality was far from the promises made. EminiFX did not generate 5% weekly returns for its investors. Alexandre did not invest a significant portion of the investor funds entrusted to him and incurred millions of dollars in losses on the limited funds he did invest. Furthermore, he misdirected at least approximately $14.7 million to his personal bank account, using $155,000 of investor funds to purchase a BMW car for himself and spending an additional $13,000 on car payments, including to Mercedes Benz.

The case against Alexandre is a stark reminder of the risks associated with cryptocurrency investments. It also underscores the importance of due diligence and skepticism towards promises of guaranteed high returns. 

In addition to his prison term, Alexandre was sentenced to three years of supervised release. He was also ordered to pay forfeiture in the amount of $248,829,276.73 and restitution in the amount of $213,639,133.53.

The Securities and Commodities Fraud Task Force of the Office handled the case, and Assistant U.S. Attorneys Nicholas Folly and Jared Lenow were in charge of the prosecution. The inquiry included participation from the Federal Bureau of inquiry and the Commodity Futures Trading Commission, which filed a separate civil lawsuit.

This sentencing follows Alexandre’s guilty plea earlier in February 2023, where he admitted to the fraudulent scheme. The case serves as a warning to cryptocurrency executives and investors alike, emphasizing the Southern District of New York’s commitment to prosecuting misconduct in the crypto markets.

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Ripple’s XRP Ledger Distributes $1.6M in Wave 5 Grants

The XRP Ledger Foundation has announced the awardees of the fifth wave of XRPL Grants. The foundation has awarded more than $1.6 million in total funding to 15 groundbreaking projects

The Wave 5 XRPL Grants attracted an impressive pool of 150 applications from across the globe. The selected projects, representing 14 countries and five continents, are set to accelerate the adoption and utility of the XRP Ledger, with use-cases spanning Web3 finance, financial services enhancement, transaction facilitation, developer tooling support, and open-source initiatives.

Among the notable awardees are Alice’s Ring from France, which enables individuals to prove solvency without disclosing their wallet address or transaction history, and 3Shop XRP, also from France, a web3 CMS compatible with XRP Ledger, allowing for token-gated products and services.

Singapore’s Alphaday, a crypto workflow aggregator, and Colombia’s Amora, a Shopify App that allows merchants to mint XLS-20 NFTs on the XRPL, are also on the list. Australia’s Evernode is bringing “layer 2” smart contracts to the XRP Ledger ecosystem, marking a significant advancement in the space.

Since its inception in 2021, the XRPL Grants program has awarded more than $10 million in funding to over 100 projects globally. The grants range from $10,000 to $200,000 USD equivalent, targeting software development projects that utilize the XRP Ledger and contribute beneficially to the wider XRPL community.

The foundation is currently reviewing applications for Wave 6, with awardees set to be announced this fall. Furthermore, the call for Wave 7 applications is slated to open in August 2023, providing more opportunities for innovative projects to receive funding and support.

The XRPL Grants program’s continued commitment to fostering innovation and driving the adoption of the XRP Ledger underscores the growing momentum of blockchain technology in solving real-world problems.

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61,216.6 ETH from Ethereum ICO Address Moved to Kraken

An Ethereum (ETH) address associated with the initial coin offering (ICO) in 2015 has transferred a staggering 61,216.6 ETH, equivalent to $116 million, to the Kraken exchange a few hours ago. This transaction marks the first movement of these funds since their acquisition eight years ago.

source: etherscan

The address in question received 61,216.6 ETH from the Ethereum genesis block on July 30, 2015. At the time of the ICO, the value of these tokens was a mere $19,038, with each ETH priced at $0.311. Fast forward to today, and the same amount of ETH is worth an astounding $116 million, showcasing the tremendous growth and adoption of Ethereum over the years.

source: etherscan

The transfer of such a substantial amount of ETH to Kraken could indicate a potential huge sale pressure or a strategic move by the original ICO participant. However, the exact intent behind this transaction remains unknown.

It’s worth noting that the transactions could influence Ethereum price given the substantial amount involved.

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Tachyum’s Prodigy Processors: A Game-Changer for Blockchain in Banking and FinTech

Tachyum, a leading tech company, has recently published a paper titled “Credit Unions, Blockchain, CBDC, FinTech and Tachyum Prodigy” on July 18, 2023. The paper highlights the potential of Prodigy, the world’s first Universal Processor, to revolutionize transactional banking and significantly reduce the environmental and financial costs associated with blockchain’s energy consumption.

FinTech companies are using blockchain technology more often because it enables direct payments between payer and payee without the need for a middleman. PricewaterhouseCoopers estimates that 77% of FinTech firms are either utilising blockchain now or moving to blockchain-based goods and services. Taking the lead in the transition to banking products and services based on blockchain, credit unions are at the forefront of this movement.

However, the energy consumption of blockchain and cryptocurrency technologies is a growing concern. The electricity use for crypto-assets is currently between 120-240 billion kilowatt-hours per year, surpassing the total annual electricity consumption of entire nations like Argentina or Australia.

Tachyum’s Prodigy offers a solution to this problem. The 128-core processor operates at clock speeds over 5GHz, outperforming all other CPU platforms in standard data center workloads. It delivers high hashing function performance required for blockchain banking while using only one-tenth of the power (core vs. core). This efficiency significantly reduces the Total Cost of Ownership (TCO) of hyperscale data center operations to one-fourth that of its closest competitors.

Prodigy’s patented architecture allows it to seamlessly switch from normal CPU tasks to AI/ML workloads, making it highly effective in the banking industry for identifying fraud and cyberattacks before they cause significant financial damage.

The Prodigy-powered data center servers can dynamically switch between workloads, eliminating the need for expensive dedicated AI hardware and significantly increasing server utilization. Prodigy delivers performance up to 4x that of the highest performing x86 processors for cloud workloads and up to 3x that of the highest performing GPU for HPC and 6x for AI applications.

Tachyum’s Prodigy Universal Processor is set to transform AI, HPC, public and private cloud data center markets, unifying the functionality of a CPU, a GPU, and a TPU into a single processor. This innovation is expected to save companies billions of dollars per year and contribute to the sustainable growth of data centers worldwide.

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