The new DEX’s aim is to eliminate the practice of mempool sniping, which is when users exploit the time lag in which a transaction is waiting to be added to a Bitcoin block. Under the blockchain’s design, the “mempool” is the queue where transactions sit waiting to be added to new blocks by Bitcoin miners.
During his time in prison Gambaryan, a U.S. citizen, developed malaria, pneumonia and tonsillitis.But he was also suffering from complications tied to a herniated disc in his back which left him in need of a wheelchair – though in a video from his last court appearance, Gambaryan did not have a wheelchair and instead had to struggle on a single crutch, CoinDesk reported earlier.
“We have serious people working in financial innovation that can create a lot of jobs, generate wealth, cement America even more as the world’s financial juggernaut,” he said. “But there are pitfalls, and there are things to watch out for, and regulators and lawmakers need to make sure we’re building a foundation, but not an overly prescriptive set of rules. So I think it’s hard to sit here and not get excited about some of the innovation that’s happening, but at the same time, how are we going to regulate it? How are we going to ensure that the innovation survives our regulations?”
Crypto options market has grown multi-fold in the past four years, with contracts worth billions of dollars expiring every month and quarter. That said, its still relatively small compared to the spot market. According to Glassnode, as of Friday’s data, the spot volume was approximately $8.2 billion, while options volume was roughly $1.8 billion. In addition, BTC’s open interest of $4.2 billion due to expire this Friday is less than 1% of BTC’s market cap of $1.36 trillion.
“By leveraging AI and Chainlink oracles to interpret, standardize, and deliver high-value unstructured data, we can dramatically reduce the manual processes required, enabling significant potential operational efficiency and cost reduction,” said Mark Garabedian, Wellington Management’s director of digital assets and tokenization strategy.
Scroll was selected by Donald Trump-affiliated project World Liberty Financial to be the layer-2 blockchain of choice, with a planned deployment along with its debut on Ethereum. (Although as chronicled by CoinDesk this week, initial demand for the project’s new tokens has proven to be minimal relative to the overall amount allocated to a public sale, and at $13 million so far has not even come close to meeting a $30 million reserve needed to cover expenses.)
With the launch of SolvBTC.JUP, Solv Protocol has significantly advanced the decentralized finance (DeFi) sector. JUP, a novel Liquid Staking Token (LST), directly includes Bitcoin into Solana’s active DeFi network.
SolvBTC.JUP lets Bitcoin holders create an 8% yearly return while keeping exposure to their BTC holdings, unlike traditional yield-bearing methods. Solv’s involvement in Solana’s Jupiter Exchange Liquidity Provider Pool, one of the main distributed exchanges on the Solana network well-known for its low costs and fast transaction rates, presents this potential.
Solv Protocol Launches SolvBTC.JUP, integrating BItcoin with Solana’s DeFi Yields Ecosystem. SolvBTC.JUP offers an 8% annual yield in Bitcoin. The underlying yield is from Solana DEX, Jupiter. Currently, SolvBTC.JUP TVL has surpassed $13 million.SolvBTC.JUP is the fourth LST…
— Wu Blockchain (@WuBlockchain) October 17, 2024
SolvBTC.JUP is built on Solv’s Staking Abstraction Layer (SAL), a platform designed to enhance Bitcoin’s programmability for decentralized finance applications.
The yield is derived primarily from liquidity provision fees, making it a more stable and risk-adjusted method compared to speculative yield-bearing strategies often found in the DeFi space.
Solv Protocol guarantees that traders positions are hedged by using delta-neutral techniques, therefore greatly lowering the market volatility risks. And in the end, members of Solana’s DeFi ecosystem can profit from consistent, BTC-denominated returns while owning Bitcoin.
With its Total Value Locked (TVL) above $13 million, the product has already acquired popularity and shows increasing demand from Bitcoin owners looking to investigate fresh return prospects outside conventionally controlled systems.
This represents SolvBTC.JUP as the fourth LST product released by Solv, therefore attesting to its dedication to significantly integrating Bitcoin with other blockchain ecosystems.
Solv previously effectively applied a similar methodology on GMX, obtaining a steady 9.5% return for Arbitrum members, hence proving the potency of its method.
Furthermore, Avalanche, among other blockchains, has seen success with Solv Protocol’s ambition of bringing Bitcoin into different DeFi ecosystems.
Expanding liquidity options for Bitcoin holders is still the key emphasis since it guarantees their seamless movement across platforms free from the liquidity fragmentation that sometimes afflicters wrapped Bitcoin assets cause.
Beside that, CNF previously reported that Solv Protocol raised $11 million to advance its Staking Abstraction Layer, thereby streamlining Bitcoin staking and improving yield generation.
Solv enables a wider limitation of options by addressing Bitcoin’s natural limits in programmability, from staking to liquidity provision, therefore influencing the future of decentralized finance for Bitcoin owners.
The Singaporean banking giant wants to help clients optimize liquidity management and streamline operational workflows.
Cardano has been on a path to decentralisation, with recent upgrades paving the way for the original developers to hand over control to the people. However, it still relies on centralised solutions like Amazon Web Services (AWS) and Google Cloud. One Cardano member now wants these services pushed out to ensure that Cardano continues on its journey of decentralisation.
Community member Jerry Hall submitted the proposal this month, noting:
The issue is: First, the majority of computation for the network is handled by large corporations, rather than participants. Second, the transaction volume does not reflect the network’s potential.
He notes that one of Cardano’s main criticisms is that it lacks users and transaction volumes compared to its rivals. A spark is needed, and according to Hall, this can only happen if the dApps in the ecosystem have something to offer.
He proposes partnering with HyperAlliance, a firm developing in-home appliances specifically for AI computation. This is the same hardware configuration that the HyperCycle network relies on. Hall believes that “we can bring a very substantial amount of engagement and economic activity directly to the Cardano network participants, especially Cardano Home Portal owners.”
Once the stake pool operators plug in their Cardano Home Portals and go online, they will immediately start rerouting the funds that were previously going to Google, Amazon, Microsoft and others to their digital wallets. The proposer added:
Cardano is the most decentralized blockchain, but in order to create true decentralization, we need to make it easy for people to run their own Cardano node and help the API providers with their load to make querying operations sustainable.
Hall noted the irony of the crypto industry, where we feed the same monsters that we are fighting, which is centralisation.
Indeed, Cardano is leading the way in decentralisation. It’s currently in the Voltaire phase, which is the final era in its roadmap and is fully focused on decentralisation. It comes with an on-chain governance system where ADA holders have the power to determine the direction of the project and a treasury system where the community decides what to do with the funds.
ADA could greatly benefit from the proposal to skip centralised platforms. As outlined, it advocates for the funds that previously went to the likes of Amazon and Google to be rerouted to the ecosystem, boosting the funds available to the users and the stake pool operators. This would ultimately hand a massive boost to ADA.
ADA trades at $0.3469, dipping 2.5% in the past day to bring its gains over the past week to 3.55%.
Data shows that deBridge is widely used to transfer funds between Ethereum, Arbitrum, Solana and Base, among other blockchains. Since April 2023, it has recorded over $3.3 billion in bridged volume between Solana and Ethereum networks alone, bagging the platform millions of dollars in revenues.