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BlockDAG X1 Mining App Launch Sets To Transform Crypto Mining with 30,000x ROI; Injective And Quant’s Market Dynamics

By
TI Partners
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1

While Injective (INJ) demonstrates resilience in the DeFi sector and Quant (QNT) grapples with price volatility, BlockDAG is gearing up to disrupt the cryptocurrency mining industry with its upcoming X1 App Miner. This innovative app, complemented by BlockDAG‘s notable $23.6 million presale success at a coin price of $0.006, is poised to make mining both accessible and lucrative, marking a significant advancement in the crypto landscape.

Injective Maintains Its Ground in DeFi Despite Market Fluctuations

Despite recent downturns in its price, Injective continues to solidify its presence in the decentralized finance (DeFi) sector. With its fully decentralized exchange protocol, Injective facilitates the trading of a diverse range of financial instruments on a secure and high-speed platform. Even in the face of price dips, the platform’s market cap remains stable, suggesting strong underlying health and potential for growth as it continues to enhance its ecosystem functionalities. This resilience positions Injective as a crucial player in the ongoing evolution of DeFi trading platforms.

Quant Navigates a Fluctuating Market Environment

The price of Quant is experiencing significant fluctuations, reflecting a challenging period of testing both resistance and support levels. According to analyses from Coinidol, Quant often encounters difficulties at higher resistance levels, leading to temporary pullbacks. However, its ability to maintain stability at lower support thresholds has been key to its market performance, indicating a cautious yet hopeful trading environment for its investors.

Revolutionizing Crypto Mining with BlockDAG’s X1 App

Set to launch on June 1st in its beta version, the BlockDAG X1 App Miner is transforming smartphone devices into powerful mining tools capable of efficiently generating BDAG coins. The app’s design focuses on simplicity and user engagement; by tapping a ‘lightning’ button every 24 hours, users can significantly boost their mining rates. This feature not only simplifies the mining process but also ensures continuous user involvement, fostering a committed community around BlockDAG’s innovative mining solution.

The X1 app boasts an intuitive user interface, making it accessible to both novice and experienced miners. The sign-up process is straightforward, and navigation through the app is seamless, enhancing the overall user experience. Additionally, the app includes a unique referral system where users can increase their mining rewards by inviting others using a personal code. Regular activities like the daily lightning tap promote consistent interaction and reward accumulation.

As BlockDAG’s presale momentum continues, surpassing $23.6 million in its 10th batch at a coin price of $0.006, the potential for high returns is evident. With 8.5 billion coins already sold and the prospect of a 30,000x ROI, BlockDAG is set to significantly impact the crypto-mining industry. The X1 App’s energy-efficient mining protocol ensures sustainable mining practices, broadening its appeal to a global audience.

BlockDAG Leads with Innovative Mining Technology

While the Injective and Quant platforms continue to navigate the volatile cryptocurrency market, BlockDAG introduces a groundbreaking approach to crypto mining. The upcoming X1 App Miner, with its user-friendly design and potential for substantial earnings, is set to captivate the crypto community.

Encouraging daily user interaction through simple actions like the lightning tap, BlockDAG’s new mining tool is positioned as a key development in making cryptocurrency mining more accessible and rewarding. With a successful presale and innovative technology, BlockDAG’s X1 Miner is emerging as a formidable tool in the evolving world of cryptocurrency.

 

Join BlockDAG Presale Now:

Website: https://blockdag.network

Presale: https://purchase.blockdag.network

Telegram: https://t.me/blockDAGnetworkOfficial

Discord: https://discord.gg/Q7BxghMVyu

Microsoft Uninstalls Nigeria as it closes African Development Centre (ADC) in Lagos

By
Ndubuisi Ekekwe
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1

Many years ago while in FUTO, we created an amazing campus radio station which covered the whole university. We were engineering students, and the FUTO radio station was the zenith of our call. But one afternoon, the Head of Department summoned me, as Director of Research, and dropped a bombshell: the Vice Chancellor would like the radio closed immediately because Nigeria’s ruler, Sani Abacha, was concerned that we could use it to take over the airwaves of Nigeria.

Yes, he was worried that a coup could happen through the station. That day, our Director of Social, Osita, who had developed a roster of shifts with anchors, DJs, etc, for the station, had to abruptly cancel everything. And some lovebirds who had paid for their friends to be wished happy birthdays on the air had their money returned.

That was the first time I learnt the power of own-goals in national development. How could a leader of a country be worried about our toy project? In some countries, he would have sent commendation letters, honouring the students. As the Director of Research, I dropped my resignation, and one by one, everyone resigned and handed all the files with the Head of Department and the university.

But own-goals have never stopped, and they continue in Nigeria. In 2023, we scored many at the national level, and the impacts are everywhere:

“Amid economic challenges in Nigeria, Microsoft’s African Development Centre (ADC) in Lagos faces potential closure, putting over 200 jobs at risk and exacerbating the country’s unemployment crisis. The news comes as the Nigerian stock market experiences a downturn, with the NGX All-Share Index declining and the naira depreciating against the dollar. This development follows a series of exits by foreign companies from Nigeria, including Bolt Nigeria’s quiet layoffs and office closures.

“While Microsoft has not issued an official statement, affected employees might receive salaries until June and continue to have access to their health insurance. The ripple effects of this exit are significant, impacting various sectors including printing presses, HMOs, brand communication firms, audit firms, and stationery vendors. This situation highlights the challenges foreign investors face in Nigeria’s current economic climate, leaving many to wonder about the future of innovation and job creation in the country.”

How PREMIUM TIMES Uses Discipline, Punishment in Its Editorial on Lagos-Calabar Coastal Highway

By
Mutiu Iyanda
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0

Political and non-political circles have been debating the importance of the Lagos-Calabar coastal highway project being carried out by President Bola Ahmed Tinubu’s government for a number of days now. President Tinubu has been scrutinised in the media and in public courts, much like the previous administrations that proposed and carried out various projects. Different linguistic devices, socio-political contexts, and economic indicators have been used to analyse the project from various angles. 

In this piece, our analyst examines the editorial on the road project from one of the nation’s most renowned and critical newspapers. Premium Times is renowned for its in-depth investigative reporting and coverage that questions the deeds and inactions of public office holders. The newspaper is renowned for covering issues related to the private sector. The editorial was titled “a coastal highway of misplace priority and due process abuse” by the newspaper. 

Our analyst analyses the newspaper’s use of punishment and discipline as a metaphor to highlight inequalities in the planning and current construction of the road project. In the process, a few metaphors employed by the newspaper were examined through the analytical lenses of Michael Foucault’s ideas on punishment and discipline.

Discipline emphasises how to help someone make a better decision the next time, whereas punishment literally concentrates on making someone suffer for disobeying the rules. The idea put out by Foucault is that one cannot exist without the other. The knowledge that defines and categorises people is the foundation for the power and methods of punishment, and this knowledge is derived from specific power and dominance dynamics.

In this regard, our analyst observes that, as highlighted in the editorial, the Nigerian government is exploiting the power granted to it by the Constitution, as well as facts that individuals do not understand, to dominate conversations over the road project. Instead of hiding beneath them, the newspaper’s editorial wants the government to act in conformity with the country’s current socioeconomic realities, particularly those affecting disadvantaged individuals.

The economy is bleeding profusely, there must be better areas to plough our little resources into

This metaphor conveys a sense of mismanagement and inefficiency within the economic structure, implying that resources are being squandered or poorly distributed. According to Foucault’s paradigm, this might indicate a lack of discipline in economic governance and resource management, in which those in authority fail to efficiently regulate and use resources for the benefit of society.

His (Minister of Works) zealousness in its implementation brooks no dissent, and sometimes it gets spiteful

Here, the metaphor represents an authoritarian style to execution in which disagreement is not permitted. In Foucault’s framework, this indicates a sort of disciplinary authority in which individuals are controlled and coerced into conforming to the wishes of those in power.

The political ecosystem is already astir on the Lagos-Calabar Coastal Highway, with the circumstances surrounding its award

This metaphor emphasises the political difficulties and disputes that surround the project’s execution. According to Foucault’s view, this shows the prevalence of power struggles and surveillance mechanisms in the political landscape, where many actors compete for control and influence over decision-making processes.

Adherence to due process has been raised by some critics, causing waffling in official quarters

The metaphor implies hesitation or indecision among official authority in response to accusations of procedural integrity. From Foucault’s perspective, this might imply a disruption in the regular functioning of disciplinary processes, as challenges to established procedures generate ambiguity and undermine authority.

How the project will be financed is still mired in obfuscation

This metaphor suggests the government’s intentional attempt to obfuscate or mislead the public about the project’s financial mechanisms. In Foucault’s paradigm, this is a type of disciplinary authority through informational control in which transparency and accountability are lacking, allowing those in power to keep control and evade examination.

It beats our imagination that the federal government will undertake the construction of these projects at a time that the country’s finances are heading south; and in the face of the dilapidated state of thousands of kilometres of existing highways, which are death-traps

This metaphor expresses skepticism and criticism of the government’s infrastructure development decisions in the face of budgetary constraints and current infrastructure inadequacies. In Foucault’s perspective, this emphasises the use of power by governmental officials in prioritising particular projects above others, despite popular objections and resistance. 

The Tinubu regime should be shrewd in deploying public resources

This metaphor emphasises the need for astuteness and strategic decision-making in government resource distribution. From a Foucauldian standpoint, it emphasises the need of disciplinary procedures in managing and regulating the use of state resources, with an emphasis on efficiency and effectiveness in attaining government goals.

These funds should not be frittered away on a white elephant and projects that will not positively impact the economy in the short and medium terms

The metaphor advises against wasting money on projects that may not produce major economic advantages. Foucault would take this as a plea for disciplined governance and rational resource allocation, in which government activities are scrutinised and assessed based on their perceived usefulness and societal impact.

Our teaching hospitals are relics of the last century

This metaphor describes teaching hospitals as obsolete and in need of upgrading. In the context of Foucault’s paradigm, it emphasises the significance of institutional structures in maintaining disciplinary norms and practices, where established systems and facilities may resist change and adaptation to changing society requirements.

Our seaports cannot compete with the best in Africa, which before now led to the loss of $7 billion annually to Cotonou and Ghana seaports, while the international airports are a laughing stock in comparison with their peers offshore.

This metaphor depicts Nigeria’s seaports and international airports as inferior and less competitive than those in adjacent nations. Here, the power dynamics and disciplinary procedures that shape the country’s infrastructure development and foreign trade ties are described as mirroring bigger concerns of governance and regulation.

Nigeria to reintroduce telecom tax to meet $750m World Bank loan requirement

By
Samuel Nwite
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0

In a bid to secure a new $750 million loan from the World Bank, Nigeria is reportedly contemplating reinstating previously suspended fiscal measures, including telecom taxes and excise duties. The revelation comes from the Stakeholder Engagement Plan for Nigeria’s Accelerating Resource Mobilization Reforms (ARMOR) program, dated March 2024, which outlines measures aimed at bolstering the country’s financial position.

According to documents obtained by Nairametrics, the proposed tax reforms under the ARMOR program could see the reintroduction of excise duties on telecommunications services, alongside an Electronic Money Transfer (EMT) levy on transactions processed through Nigerian banks, among other taxes.

The suspension of the 5% excise duty on telecommunications and the Import Tax Adjustment levy on certain vehicles, ordered by President Bola Tinubu in July 2023, may now be lifted to meet the targets outlined in the ARMOR program, pending World Bank approval.

Negotiations between the Federal Government and the World Bank are reportedly underway, with the overarching objective of enhancing Nigeria’s capacity to manage and mobilize domestic resources effectively. This includes measures aimed at improving tax and customs compliance while safeguarding oil revenues.

“Domestic Revenue Mobilisation drive in the government ARMOR program seeks to increase revenue on some targeted industries and sectors of the economy,’’ the document partly said.

The proposed tax reforms are poised to have far-reaching implications across various economic sectors, with stakeholders ranging from manufacturers to service providers and the general tax-paying public set to be affected. Manufacturers of goods such as alcoholic beverages, tobacco products, and sugar-sweetened beverages (SSBs) are among those likely to feel the impact of the proposed excise duties.

Key industry groups, including the Association of Licensed Telecom Operators of Nigeria (ALTON), the Committee of Bankers, and the Manufacturers Association of Nigeria (MAN), are actively engaged in discussions concerning the potential reforms. These discussions aim to ensure the buy-in of stakeholders and facilitate the successful implementation of the proposed measures.

While these measures hold the promise of augmenting government revenues, the document emphasized the need for caution to ensure that vulnerable segments of society are not disproportionately burdened by these changes.

The engagement plan emphasizes the significance of leveraging existing regulatory mechanisms within key public sector agencies to facilitate the effective implementation of the proposed revenue measures.

“Services that will be subjected to the newly introduced excises are regulated by key public sector agencies. The introduction of the new revenue measures will require the application of existing regulatory mechanisms available within these institutions,’’ the document reads.

 Institutions such as the Nigerian Communication Commission (NCC) and the Central Bank of Nigeria (CBN) are identified as pivotal players in this regard, tasked with overseeing the regulatory framework governing the affected sectors.

Moreover, the ARMOR program acknowledges the intersecting domains of health and environmental protection, recognizing the pivotal role of government institutions such as the Federal Ministry of Environment, the National Environmental Standards Regulatory and Enforcement Agency (NESREA), and the Federal Ministry of Health in shaping policy frameworks aligned with public interest objectives.

At its core, the ARMOR program forms part of a broader governmental initiative spanning from 2024 to 2028, aimed at ushering in comprehensive reforms in tax and excise regimes, enhancing administrative capabilities in tax and customs administration, and fostering transparency in oil and gas revenue management. 

With the World Bank’s substantial contribution of $750 million, complemented by the Federal Government’s commitment of $1.17 billion through annual budgetary allocations, the program’s ambition is expected to be matched by its scale.

Technical assistance constitutes a pivotal component of the ARMOR program, with specific allocations earmarked for the Federal Inland Revenue Service (FIRS) and the Nigeria Customs Service (NCS). The allocation of $5 million each aims to fortify the capacity of these agencies to implement the proposed reforms effectively, encompassing initiatives such as data sharing, risk-based audits, and compliance processes.

Furthermore, the allocation of $10 million for project management, tax policy capacity-building, and other expenses underscores the comprehensive approach adopted by the ARMOR program. This holistic strategy, buttressed by substantial investments in capacity building and program management, underscores Nigeria’s commitment to achieving fiscal sustainability. 

However, it is coming at a time when Nigerians are lamenting over overwhelming economic hardship, underpinned by skyrocketing inflation and unemployment. Additional tax burden is the least they’re expecting from the government still struggling to address any of their numerous challenges, after one year in office.

The plan document reads in full:

“Domestic Revenue Mobilization drive in the government ARMOR program seeks to increase revenue on some targeted industries and sectors of the economy. Specific groups and agencies within affected sectors include 

“1. Association of Licensed Telecom Operators of Nigeria: The introduction of excises on telecom services requires that all telcos are mobilized to fully participate in the collection of such revenue. 

“2. Committee of Bankers: Introduction of EMT levy on electronic money transfers through the Nigerian Banking System would need the buy-in of all banking institutions 

“3. Manufacturer’s Association of Nigeria: Manufacturers of tobacco products, sugar-sweetened beverages(SSBs), and alcoholic beverages who would be required to collect excises on their products are critical stakeholders for the introduction of the new excise regime. They are currently organized into various sectoral groups under the Manufacturer’s Association of Nigeria (MAN). Producers of alcoholic beverages organized under the Distillers and Blenders Association of Nigeria also need to key into the reforms 

“4. Importers: Strategic partners involved in the importation of different items into the country will be mobilized to participate in the ARMOR program. A key stakeholder group is the Association of Nigeria Customs Agents (ANCLA). 

“5. Vehicle Importers and Manufacturers: Stakeholders in the automobile trade industry must be engaged on reforms involving the introduction of green taxes on high GHG emission vehicles. Local manufacturing and assembly of vehicles is growing through a phase of growth in Nigeria. The demand for vehicles is mostly met through importation by vehicle importers under the aegis of Association of Motor Dealers of Nigeria (AMDON).” 

It also added policy-making agencies: The concerned institutions include 

“1. Nigerian Communication Commission 

“2. Central Bank of Nigeria. 

“There are also agencies with the mandate for making policies on some of the issues covered in the ARMOR program with respect to policy framework on matters of public interest in Health and Environmental Protection. The government institutions relevant to ARMOR in this regard are. 

“1. Federal Ministry of Environment 

“2. National Environmental Standards Regulatory and Enforcement Agency (NESREA) 

“3. Federal Ministry of Health” 

“The PforR Program scope includes a subset of actions from the government program to be conducted during 2024 to 2028 at the federal level. The alignment ensures that the World Bank’s intervention supports and enhances the sustainability and impact of the government initiative during the main period of implementation with a focus on reforms of tax and excise regimes, tax and customs administrative improvements, and enhanced transparency of oil and gas revenues remitted by NNPCL. 

“The government program is funded from annual budget allocations of $1.17 billion to FMF, FIRS and NCS. The PforR with results based financing of $730 million, and $20 million investment financing, is 62 percent of the program budget” 

Dogecoin (DOGE) Vs. ETFSwap (ETFS) Vs. Shiba Inu (SHIB), Who Will Reach $2 First?

By
TI Partners
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0

As we prepare for a bull market post-halving, investors are hunting for sustainable crypto projects to diversify into amidst several in the market. With old guns Dogecoin (DOGE) and Shiba Inu (SHIB) experiencing a somewhat fluctuating period, a newbie, ETFSwap (ETFS), is tipped to excel this year. So, in this article, we will explore their potential and ascertain which of these three cryptos will hit the $2 mark first. Let’s dive in!

Price Prediction: Will Dogecoin Reach $2 By End Of 2024?

Dogecoin’s (DOGE) trajectory has remained uncertain over the last month, with the meme coin experiencing a relatively low price trend. The most popular meme coin saw a massive decline in its daily trading volume in the previous week and a 28.20% decline over the last 24 hours.

According to recent data on CoinGecko, Dogecoin’s (DOGE) current price is $0.1325, reflecting a 3.5% increase in the last 24 hours. However, the meme coin’s value indicates an 81.8% decline compared with its all-time high in May 2021, when it sold for $0.7316. The dog-themed coin is currently ranked No. 9 in the crypto world, with a market cap of $19,130,989,382.

With Dogecoin’s (DOGE) low market activity and high volatility of meme coins, it doesn’t look so bright for the Dogecoin (DOGE) community. It can only dream of hitting $2 by the end of 2024. However, with Elon Musk’s constant teasing of the crypto community using the renowned meme coin, all hope might not be lost.

Will The Shibarium Hard Fork Impact Shiba Inu (SHIB) Price?

Decentralized digital currency Shiba Inu’s (SHIB) Shibarium layer-2 network recently completed its hard fork. The network announced the fork in a post on its X (formerly Twitter) account, suggesting that it will enable “blazing transactions” and “predictable gas fees.”

The hard fork is believed to attract investors to Shiba Inu (SHIB), as upgrades have been made to the well-known meme coin platform. This seems to be the case as a look at the Shiba Inu (SHIB) price trend indicates that the meme coin has experienced a 4.1% value increase in the last 24 hours, and it currently sells for $0.00002298.

Despite the recent increase, the Shiba Inu (SHIB) price is still down 73.3% from its all-time high in October 2021. However, the Shiba Inu (SHIB) community is optimistic that the hard fork will drive investors that will push for a bull period into the platform.

Even if this happens, $2 looks like a very high mountain to climb for the meme coin, especially factoring in the fact that its market supply is in the trillions. Coupled with the emergence of a promising alternative like ETFSwap (ETFS), Shiba Inu (SHIB) investors have a slim chance of seeing the $2 price tag.

Price Prediction: ETFSwap (ETFS) Set To Hit $2 After Major Listing

The new decentralized finance (DeFi) platform ETFSwap (ETFS) is taking the crypto world by storm after influential analysts and experts backed it to go beyond the $2 mark immediately after it gets listed on major exchanges.

ETFSwap (ETFS) is on a mission to transform the decentralized finance (DeFi) sector by enabling the trading of cryptocurrencies and tokenized exchange-traded funds (ETFs) in its ecosystem. This way, it bridges the gap between the two sectors – traditional finance (TradFi) and decentralized finance (DeFi).

Users and customers can trade and invest in a broad option of exchange-traded funds (ETFs) and can also swap their cryptocurrencies to ETFs and vice versa. They also enjoy a wide range of benefits, including market-making services, perpetual futures services, 10x leverage services, etc. The forefront Ethereum-based DeFi platform also optimizes the advantages of blockchain technology to provide accurate and transparent data for its users.

Amid the uncertainty rocking the market, ETFSwap (ETFS) has stood firm as a viable option, with its presale amassing a large number of investors. Currently, in its Stage 1 presale, ETFSwap (ETFS) has sold out over 50 million tokens and is still selling fast at a price of $0.00854.

When the Stage 1 presale ends in a few days, Stage 2 will commence and sell for 2x the current price, guaranteeing a 100% gain for investors in this round. This suggests that Stage 1 investors will be seeing profit right out of the gate. Not only that but the uptrend is projected to continue even after the presale stages.

For more information about the ETFS Presale:

Visit ETFSwap Presale

Join The ETFSwap Community

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