Tag: Shapeshift

Bitget creates an AI-powered crypto trading tool

by Blockchain News

Bitget, an influential entity in the fields of crypto derivatives and copy trading, has introduced a novel tool called the Martingale AI trading bot. This AI-powered innovation is engineered to help its users trade cryptocurrencies with higher efficiency.

Taking its name from the traditional Martingale betting system, this fresh AI approach is designed to amplify investments in the wake of market declines to offset losses and garner profits. The AI component of the system streamlines investment automation, permitting traders to establish their risk parameters and investment intervals based on recommendations from Bitget’s in-house AI system. Notably, these guidelines are derived from an analysis of past market prices and asset volatility.

The architects behind the Martingale strategy underscore its adaptability to both bearish and bullish markets, thereby enabling traders to capitalize on long and short market positions. A distinctive feature of this strategy is its customizable risk management aspect, which offers traders the liberty to tweak various parameters in alignment with their personal trading patterns and risk thresholds.

The confluence of AI and cryptocurrency has been gaining more attention of late. Erik Voorhees, the person behind ShapeShift, recently spoke about the singular compatibility of cryptocurrencies and AI systems. A libertarian in favor of favorable regulation in the web3 industry, Voorhees contends that cryptocurrency is the only type of money that can be efficiently integrated into AI systems. He maintains that AI systems have the ability to manage and exploit digital assets. Bitget’s Martingale AI strategy serves as a tangible illustration of this concept, demonstrating how AI-enabled algorithms can augment trading strategies, automate tasks, and offer insights into market dynamics.

Concurrently with Bitget’s groundbreaking initiative, the AI crypto assets market is experiencing considerable expansion. Boasting a market cap of $2.66 billion and a 1.1% change within the last day, AI tokens that drive AI-centric projects like portfolio management, image generation, and pathfinding are on the rise. To illustrate, tokens such as RNDR, AGIX, and FET have seen gains of 0.4%, 1.7%, and 0.8%, respectively, in the past day. This ascending trajectory underlines the potential worth and escalating demand for AI tokens in the market.

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ShapeShift Responds to Elizabeth Warren

by Blockchain News

According to a recent statement, the noncustodial cryptocurrency exchange platform ShapeShift refuted Senator Elizabeth Warren’s claims of “illicit financing,” suggesting that she used the platform as a scapegoat to “push” her most recent crypto bill. Senator Warren had accused ShapeShift of “illicit financing.”

The cryptocurrency exchange ShapeShift claimed in a tweet sent out on February 19 that Senator Elizabeth Warren made “mistakes” in her “analysis” of the platform during a hearing held by the Senate Banking Committee on February 14 and titled “Crypto Crash: Why Financial System Safeguards are Needed for Digital Assets.” The hearing was entitled “Crypto Crash: Why Financial System Safeguards are Needed for Digital Assets.”

In a subsequent tweet, ShapeShift refuted Warren’s claims that it was involved in “illicit funding” by asserting that it “never handles user monies” and that it is unable to “enable this.”

This comes as a result of Warren’s comments made at the senate hearing in which he implied that ShapeShift had hidden reasons for reorganizing itself as a DeFi platform in July of 2021.

Warren said that the reorganization was done to entice users to “wash” their money through the site.

In addition to this clarification, Shapeshift said that it is “not an exchange,” expanding on the fact that it is an open-source cryptocurrency dashboard that “connects users” to various protocols and platforms.

It went on to say that it cares about the “same things” as Warren, specifically naming “user safety” and “access to innovation” as areas of concern that are shared by the two parties.

By providing a link to its discussion forum, ShapeShift urged Warren and other individuals to “constructively participate” in the issue of financial independence and innovation with its community.

This comes only a day after Erik Vorhees, the CEO of ShapeShift, took to his personal Twitter account on February 18 and stated that he is looking forward to “submitting a proposal” to the Shapeshift DAO governance process in response to Elizabeth Warren’s criticism of the platform. Vorhees made this statement in response to Warren’s criticism of the platform.

Warren has been an outspoken critic of cryptocurrencies in recent months. He said in an interview on January 25 that the United States Securities and Exchange Commission (SEC) should “double down” on its attempts to regulate cryptocurrencies since the sector is nervous about what lies ahead.

She said that the previous administration of the SEC “basically gave the green light” to set up a market for cryptocurrencies that was “full of garbage tokens, unregistered securities, rug pulls, Ponzi schemes, pump and dumps, money laundering, and sanctions evasions.”

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Shapeshift Migrate Users to Open-Source Mobile App Boosting Decentralization

by Blockchain News

Shapeshift has now created a new open-source app to which users will have to migrate, to take additional steps into complete decentralization. 

Shapeshift_1200.jpg

On Wednesday, noncustodial crypto exchange and decentralized autonomous organization (DAO), Shapeshift, announced the launch of its new open-source mobile application to move fully into decentralization.

According to Shapeshift, this new move would enhance user mobility, and in addition, provide an authentic DeFi universe experience for its users, as well as also offer additional flexibility, mobility, and features when interacting through the wallet and trading crypto on the platform.

Willy Orgorzaly, head administrator for Fox Foundation, stated that the mobile app is fully ‘’open source’’ and that the only backend is ‘’blockchain data,” — which is also advancing into the process of being truly decentralized.

In addition, to go fully decentralized, Shapeshift has provided users with more options for crypto asset services such as investing and managing crypto assets. It has also vowed that it will permanently erase all users’ data once the company’s centralized infrastructure has completely worn out.  

Notably, this news comes after the organization transitioned into a DAO last year as a part of a broader assurance of its aims to decentralize its operations.

Founded in 2014, Shapeshift started as a DAO and eventually evolved into a community-owned and governed crypto platform. The platform aims to be the pathway into a borderless financial system, and an open-source self-custody crypto platform that will enable individuals to achieve financial sovereignty.

Speaking of DAO, Binance is now ranked as the second largest voting power in Uniswap DAO (after mega Venture capital firm Andreessen Horowitz 16z) with its latest delegation of 13 million UNI tokens to Uniswap DAO. As reported by Blockchain.News, Binance holds 5.9% voting power against the 6.7% commanded by a16z.

Image source: Shutterstock

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Shapeshift Migrate Users to Open-Source Mobile App to Boost Decentralization

by Blockchain News

Shapeshift has now created a new open-source app to which users will have to migrate, to take additional steps into complete decentralization. 

Shapeshift_1200.jpg

On Wednesday, noncustodial crypto exchange and decentralized autonomous organization (DAO), Shapeshift, announced the launch of its new open-source mobile application to move fully into decentralization.

According to Shapeshift, this new move would enhance user mobility, and in addition, provide an authentic DeFi universe experience for its users, as well as also offer additional flexibility, mobility, and features when interacting through the wallet and trading crypto on the platform.

Willy Orgorzaly, head administrator for Fox Foundation, stated that the mobile app is fully ‘’open source’’ and that the only backend is ‘’blockchain data,” — which is also advancing into the process of being truly decentralized.

In addition, to go fully decentralized, Shapeshift has provided users with more options for crypto asset services such as investing and managing crypto assets. It has also vowed that it will permanently erase all users’ data once the company’s centralized infrastructure has completely worn out.  

Notably, this news comes after the organization transitioned into a DAO last year as a part of a broader assurance of its aims to decentralize its operations.

Founded in 2014, Shapeshift started as a DAO and eventually evolved into a community-owned and governed crypto platform. The platform aims to be the pathway into a borderless financial system, and an open-source self-custody crypto platform that will enable individuals to achieve financial sovereignty.

Speaking of DAO, Binance is now ranked as the second largest voting power in Uniswap DAO (after mega Venture capital firm Andreessen Horowitz 16z) with its latest delegation of 13 million UNI tokens to Uniswap DAO. As reported by Blockchain.News, Binance holds 5.9% voting power against the 6.7% commanded by a16z.

Image source: Shutterstock

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ShapeShift hopes to create ‘rarest and most historical’ NFTs with 80% trading card supply burn

by Cointelegraph

Non-custodial cryptocurrency exchange ShapeShift recently burned hundreds of themed collectable “cards” from the blockchain-based mobile game,  Spells of Genesis. The team said that the remaining cards will be placed under the control of its new DAO.

According to on-chain data, ShapeShift has burned at least 817 of the digital ‘ShapeShift the Wanderer’ cards in its possession. This follows an Oct. 12 announcement the exchange intended to burn the majority of cards to make those in circulation “among the most rare [Spells of Genesis] cards in existence and among the oldest NFTs in existence.”

“These are some of the earliest NFTs (circa 2015) that were minted by Spells of Genesis and given to ShapeShift as part of our partnership supporting their early blockchain-based game development,” said ShapeShift. “These could end up being some of the rarest and most historical NFTs ever.”

In total, there are now only 183 editions of the asset, known on-chain as SHAPESHIFTCD, out in the wild. Many of these are believed to be lost, making them one of the rarest original Spells of Genesis cards in existence.

According to the exchange, it plans to move 32 remaining cards in its possession from the Counterparty (XCP) to Ethereum blockchain using the Emblem Vault bridge, which allows crypto users to wrap Counterparty tokens as ERC-721 assets and trade them on Ethereum. Of the total not burned, the platform will retain 16 cards to sell before 2022 and give 16 to its decentralized autonomous organization, or DAO, treasury. ShapeShift said it will unlock the cards in stages over the next two years, but FOX token holders will vote on whether the DAO sells or HODLs.

“Whether the DAO sells these NFTs for ETH, holds them for the long term, or some combination thereof they will become a valuable and important asset in the ShapeShift DAO treasury,” said the exchange. “There is some chance the NFTs do not end up being valuable and become a non-useful asset, but even in that case no harm is done to the DAO.”

Related: Tales from 2050: A look into a world built on NFTs

The move seems to be an attempt to drive additional interest and gain more value from the crypto collectible cards, which predate CryptoPunks and all other major NFT offerings to come out of the recent boom. According to Shaban Shaame, blockchain pioneer and CEO of software company EverdreamSoft, Spells of Genesis cards are “not particularly easy to acquire” given their location on the XCP blockchain. However, the Emblem Vault bridge has provided users with a way to trade the tokens on Ethereum, leading to a new boom in trading activity for the once all-but-forgotten assets.