Here's a 🧵 with my explanation on why I think the classic $LUNA is pumping 👇
The Terra Classic community suggested a recent proposal to ‘BURN’ 1.2% of all $LUNC transactions. This proposal has been successfully passed with an overwhelming 83% ‘Yes’ vote.
I believe, because of this, the pump is happening.
Burning coins essentially takes them out of circulation, which reduces the supply. This can increase the value of the remaining coins or tokens.
Major centralized exchanges have accepted the 1.2% tax burn proposal, including Binance and many others.
The proposal says:
“Distribute 50% transaction fees to the community pool (35% to be burned via monthly community pool proposals; 10% airdropped to ecosystem devs, 5% retained for core Terra Classic development)
and increase ‘Base Proposer’ and ‘Bonus Proposer’ reward from 0.01 and 0.04 to 0.03 and 0.12 respectively.”
Mirror ( $MIR ) and Anchor ( $ANC ) protocols are part of the Terra Luna ecosystem, that's why we are parallelly seeing a pump in these two.
As always, though, be extremely careful.
The proposal is probably one of the reasons why it's pumping, but it doesn't mean it wont go down.
These coins are easy to make money WITH, but also easy to LOSE money with.
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@zilliqa first launched in 2017, as they saw other blockchains struggling with one major problem, scalability. That is where 'Sharding' comes into play...
#Zilliqa's very own engineering team also created a programming language, 'Scilla' which is supposed to guarantee the safety of smart contracts by limiting the exposure to attacks on the blockchain.
Here are the most important events that happened in the past week in #Crypto, all summarized!
If you're aware of these events, you're absolutely UP TO DATE with #crypto!
Let's get started!
1/ 👇
2/ - Ethereum merge to proof-of-stake occurred successfully on 15th September.
- Opera crypto browser integrates MetaMask ahead of Ethereum merge.
- Starbucks offers an NFT-base loyalty program using Polygon's Blockchain Technology.
3/ - Major Ethereum mining pools like F2Pool, Poolin, BTC.com and Nanopool will support EthereumPoW after the merge.
- Bahrain central bank set to test Bitcoin payment processing solution.
- Bitcoin price falls $1K in few minutes as US CPI inflation overshoots.
Hedging is an advanced financial strategy that tries to limit risks in financial assets.
Hedging consists of taking an offsetting or opposite position in a related security/assets/crypto.
🧵👇
There is a risk-reward inherent in hedging, while it reduces potential risk by offsetting the position, it also chips away the potential gains.
Generally, investors use hedging practices to reduce and control their exposure to risks.
For Example: Say Mr. X opened a long position in $BNB (Crypto) at a limit/market price of $280, but the price of $BNB starts falling due to certain market conditions so in this case,
Quant was founded in 2015 by Gilbert Verdian, Paolo Tasca and Colin Paterson. Later in 2018, they launched their token $QNT on the #Ethereum blockchain.
How will Quant create interoperability between blockchains?
#Quant developed a software called, the 'Overledger' which is designed to connect to public and private networks, allowing for easy multi-chain communication and removing any unwanted barriers.
@Chainlink is a decentralized oracle network that was created by Steve Ellis & Sergey Nazarov that first launched in 2017, on the #Ethereum network.
First, let's understand what #Chainlink does and how it works.
@Chainlink is a 'Decentralized Oracle Network (DONs)' maintained by #Chainlink 'Node Operators', that provides off-chain (real-world) data to smart contracts on the blockchain.
Here's a thread on the state of Play-to-Earn projects.
Play-to-earn games, for better or for worse, have attracted a lot of attention in crypto space over the past year. Because of this, we can't go around it anymore.
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Top projects like Alienworlds and Splinterlands see a large number of users on average per week - 504,000 and 440,000 respectively.
Funding for Play-to-Earn games is increasing year by year, demonstrating the growth of the industry.
The developers then raised money to compensate users affected by the hack. Other games, such as the Solana’s Aurora and the Avalanche’s Clavada, have stepped up to challenge Axie Infinity's first mover advantage.