DD
MM
YYYY

CATEGORIES

PAGES

DD
MM
YYYY

spot_img

CATEGORIES

PAGES

Home Blog Page 3375

The Abia State 2 No Hilux Purchase Is a Pure Typo in the 2024 Budget

By
Ndubuisi Ekekwe
-
1

Great observation by SH that Abia budgeted N1.5B for two Hilux. But if you look at that data, you will notice that it was a pure typo. They listed Hilux purchases many times and the prices are consistent with normal market value, except the one that SH noted. You cannot buy one car on a budget for N750m and N15m in the same budget report. 

Calculate the total expenses for Vehicles and you will see that the 2 no Hilux was a typo; that was not a car line. The state should fix that typo. This is the file, search Hilux and check all places it is mentioned, check the numbers. Then add all the car, you will see that line was a typo https://abiastate.gov.ng/wp-content/uploads/2024/01/ABIA-STATE-2024-APPROVED-ESTIMATES.pdf 

Yet, this shows why governments should be thorough especially when transparency is the new game. We must commend SH for taking time to look into these numbers. It should be commended as that is how we can build a nation. Abia publishes its master budget file to the last Kobo. Of course, the real deal will be reconciling budget with actual expense; I am very confident that Abia will pay a normal rate for Hilux. 

Also, besides Hilux, Abia is buying Innoson Motors. In that master file, you will see many Innoson vehicles. The challenge is that Innoson lead time is long for some security operational vehicles. When I visited home during Christmas, all the commissioners I met in Abia State used Innoson Motors. 

The rumour that Abia does not buy local should be modulated; it buys local but for security vehicles, it cannot wait for ages. In short, the Nigerian government is also buying local; I have seen the data. The challenge remains that lead time from local car markers can run into months. This contrasts with Japanese firms which can “produce” 5m cars waiting for buyers. 

I am just a citizen; I do not work for any government. I looked at the same data as SH, and made these points. Many asked me to comment, I have done just that. This is a pure typo but that does not mean we should celebrate mistakes in budgets.

‘The Happening’ (Mass Auction of Restricted Web3 Domain Names) Part 2

By
John Mc Keown
-
0

This is an update on ‘The Happening’ For anyone who has not seen Part 1, which was published directly to LinkedIn, click HERE

Today, we start with looking at the progress of the auction and try to digest what is going on.

I’ve taken a screenshot of the top 10 so far by highest current bid price. The current price of the HNS coin today is $USD 0.03549. So the bid leader, .web with 250,000 HNS is currently at $8,872.50 , while the No. 10 spot is being held by .euro at 30,000 HNS which is $1064.70

This particular type of auction is called a Vickrey auction (named after Columbia University professor William Vickrey who invented it in 1961). The total sums seen in the column represent two components – a bid and a ‘blind’.

The ‘blind’ is a sum that gets locked in the auction until it ends. Bidders use it to disguise the real size of the bid. In the example of .web, nobody except the bidder themselves know how much they have bid.

All everyone else knows is that the bid is something less, or equal to 250,000 HNS ($8,872.50). The only way another bidder can be 100% sure to outbid, is to bid more than 250,000 HNS, even though the bid itself, what the leading bidder has actually committed, may be a lot less than this.

The 250,000 HNS total is called the ‘Lockup Amount’.

Early bidders often put huge blinds on top of small bids, in an attempt to frighten off other bidders and get a name cheaply. It is questionable to what extent the tactic has worked so far.

If we look at the column to the right of the HNS column we see how much time is left in each auction. It currently varies between a few hours under 4 days, to a few hours over.

.web already has 13 bids and one of them (I can see from my own system) – with 5,061.00 HNS ($169.61) Lockup Amount, is newer than the 250,000 HNS lock up, so it is probably all bid and no blind.

Further bids are highly likely to come in on these names between now and the end of the auction. All blinds are immediately returned at the end of bidding as long as the bid is ‘revealed’. This is done automatically by Namebase, but in self-custody wallets, it is a process.

In a Vickrey auction, the winner only pays the second highest bid. They will get refunded the difference. All unsuccessful bidders will get bids refunded.

Bid related Refunds have to wait the full length of the cycle. When a lot of high value names come on the market like this, even ‘whales’ can easily get their funds tied up quickly if they get too carried away with bidding.

This comes to the second type of strategy to maximise benefit from the appearance of a lot of high value or interesting names on the auction at once -waiting around until the last moment when many of them are going to end at the same block count, looking for a low bid opportunity, and jumping in with a bid just before the last block closing the auction, has been completed.

This is known as ‘sniping’.

This is a common tactic for those who can be flexible about what they want to win. Many people are focused on ‘flipping’ names (buying them on the auction and selling them later in secondary markets at a profit).

9ja Cosmos has a strategic approach to acquisitions and focuses on what can work in whatever is its active development project. We will generally not pay attention to opportunities outside our project focus, unless they are ridiculously cheap and notionally capable of offering quick return. Liquidity is important to progress our projects.

Invest at your own risk and always DYOR.

9ja Cosmos is here…

Get your .9jacom and .9javerse Web 3 domains  for $2 at:

.9jacom Domains

.9javerse Domains

Visit 9ja Cosmos LinkedIn Page

Visit 9ja Cosmos Website

Preview our Sino Amazon/Sinosignia releases

 

‘The Happening’ is a function of ‘Handshake’ – A PoW (Proof of Work) Blockchain, free to build upon and owned by nobody.
‘The Happening’ is not a function of 9ja Cosmos, Namebase, or any business built on the Handshake Blockchain mentioned here, or in continuation comments here, on LinkedIn, or any other platform this piece is ported to. Some businesses may choose to integrate aspects of ‘The Happening’ in their UI to serve their customers consistent with the nature of their products and/or services.

 

 

Mr CBN Governor, Are You Aware of Cross-Border Lending in Nigeria?

By
Ndubuisi Ekekwe
-
1

I do not work in the Central Bank of Nigeria. But I have access to information which may make some directors there jealous. I speak on average  10 companies in Nigeria weekly because we run the most active entrepreneurial school in Africa. 

The smartest people in Nigeria are the young people, and they’re well ahead of all of us. They invent sophisticated business models and sell some to Nigerian banks. I will share one here which took off massively from July 1, 2023, after the Naira floating policy. Many banks have this product in Nigeria.

Yes, new business models evolved after the Naira floating policy last year. Some of the things the Central Bank of Nigeria is doing will take time to work as some of our lending products are cross-border in nature now with masked USD component. I have identified ten new models and will share one today.

Follow me:

  1. CompanyA has raised $100,000 from InvestorA which is based in New York.
  2. InvestorA wires the funds to USBankA in California.
  3. CompanyA operates in Lagos, Nigeria, and needs and uses Naira for its operations.
  4. CompanyA approaches a Nigerian bank (NGBankB) for a loan of N50 million, using a portion of the $100k as a collateral. NGBankB asks CompanyA to wire $50k from USBankA to another bank in New Jersey (USBankC) to an account it controls. That is used as a collateral to secure the N50 million.
  5. Upon that wire, NGBankB releases N50m to CompanyA in Nigeria at a low interest rate since there is “no risk” on that loan (fully collateralized with US dollars). 

Note: no USD fund has been imported into Nigeria. And the US dollar which shows in the balance sheet of the local Nigeria bank is a collateral on a loan issued in Naira. 

Does the Central Bank of Nigeria (CBN) understand how to handle the Naira and the USD components of this transaction? I just explained one of many financial trajectories which are turning the Naira on its heads.

Nigeria was broken in 2017 but post-May 2023 policies accelerated things; everyone knows what happened. Check the rate of foreign currency importation, not the amount raised? I mean, if you do not understand this, you are 10 years behind in the Nigerian capital and banking sector. The forex market in Nigeria is so advanced that it may take the central bank years to catch up because the tools we use to regulate and monitor banks cannot understand what happens. 

Stay tuned for model #2. These are new business models which are reshaping banking, FX and the broad capital market in Nigeria. Interestingly, these things are 100% legal. The challenge is the distortion in the funding equilibrium. 

Yet, we can fix these issues if we get to work. The floating of Naira made Naira vulnerable and that was why I called it “One of the worst economic policies in Nigeria since 1999“.

Crypto Gains: Massive Interest in Scorpion Casino’s Presale and Solana Surpasses $100 – Will Chainlink Follow?

By
TI Partners
-
0

In today’s world, where surprises seem to be around every corner, finding stability feels more like a luxury few can afford. Amidst stories of cryptocurrencies making big gains, there’s one standout that’s doing things differently, merging the thrill of gaming with the chance for financial success.

Scorpion Casino (SCORP) is quickly becoming an unexpected contender, setting new standards for earning passive income in the crypto world. With its eyes set on a forthcoming BitMart listing, SCORP is revolutionizing how investors earn, offering daily USDT rewards even during the presale stages.

Solana Price Crosses 3 Digit Mark; What Next?

As Solana price (SOL) approaches the $100 milestone, excitement is building in the crypto world about its potential to break past previous records. Currently standing strong as the fifth largest cryptocurrency by market cap, with a hefty $40.76 billion valuation and 433.38 million SOL in circulation, Solana’s recent price jump is turning heads.

Adding fuel to the fire, Arthur Hayes, the former CEO of BitMEX and a well-known figure in the cryptocurrency sphere, has predicted an impressive rally for Solana, linking it to an anticipated banking crisis. Hayes, who has a knack for making spot-on market predictions, had previously foreseen Solana hitting $100 when it was trading at $60.

Scorpion Casino – Your Best Bet For Passive Income In 2024

SCORP emerges as a standout bet for 2024, promising an exhilarating fusion of online gaming and investment potential. As the native token of Scorpion Casino, SCORP is not just another digital currency.  With a staggering $3.6 million raised in its presale, SCORP has captured the attention and confidence of investors, signaling a bright future ahead.

Scorpion Casino’s unique approach, combining traditional casino excitement with the cutting-edge world of cryptocurrency, offers participants not just a chance to play but to invest in a dynamic ecosystem. This platform provides an extensive array of over 210 casino games, 160 live games, and more than 30,000 monthly betting options, ensuring that it caters to a wide range of interests and preferences.

SCORP USDT Rewards During Presale

SCORP offers a unique passive income opportunity through its innovative reward structure, allowing investors to earn daily USDT rewards even during the presale phase. This feature has set a new standard in the crypto space, offering immediate gratification and solidifying investor trust. As SCORP prepares for its upcoming listing on BitMart, the anticipation and momentum around this token continue to build, making it one of the most promising bets in the crypto sphere for 2024.

Chainlink Price Today: Bullish on 2024

Over the last two weeks, LINK’s value has decreased by more than 7%, and it has shed 3.8% of its value over the past month. Despite these recent dips, Chainlink has impressively gained 97.1% in value since the beginning of 2023.

Adding to the excitement around Chainlink, the network is making waves as the premier platform capable of facilitating the tokenization of Real World Assets (RWAs) on a large scale. RWAs refer to tangible assets from the traditional financial world, such as commodities, now being introduced to the DeFi ecosystem through blockchain technology.

Finding The Top Crypto Gainers In 2024

As we look ahead into the future of cryptocurrency investments, Scorpion Casino’s SCORP token emerges not just as a participant but as a leader in the arena of top crypto gainers. Amid the dynamic shifts in Solana’s price and the daily fluctuations of Chainlink’s price, SCORP stands out as a beacon of innovation and potential. With its successful presale and the anticipation of its BitMart listing, SCORP is poised for remarkable growth.

Find out more about SCORP:

Presale: https://presale.scorpion.casino/

Twitter: https://twitter.com/ScorpionCasino

Telegram: https://t.me/scorpioncasino_official

Chainlink (LINK) And Avalanche (AVAX) Make Big Leaps While Scorpion Casino (SCORP) Passes $3.6m In Presale

By
TI Partners
-
0

As we navigate through the evolving dynamics of the 2024 crypto market, notable projects like Chainlink (LINK) and Avalanche (AVAX) are making headlines with their technological advances and market performance. Amidst these established names, Scorpion Casino (SCORP) captures the spotlight with its groundbreaking presale success and innovative investment opportunities.

This article explores how Scorpion Casino differentiates itself in a market ripe with potential, offering investors a unique blend of gaming entertainment and financial growth.

Current Presale Stage Ending in 72hrs!

Scorpion Casino Offering Extra 20% In Tokens Using Its Bonus Code

Scorpion Casino stands out as one of 2024’s most captivating crypto ventures. Having secured a listing on BitMart, it has already rewarded some of its investors with 5,000 USDT within just thirty days of acquiring $SCORP tokens. This achievement, combined with surpassing $3.6 million in sales, has generated significant buzz around the project.

A key draw is its staking mechanism, which, while not unique to the crypto world, has been particularly lucrative for Scorpion Casino investors. Stakers have reported earning up to 10,000 USDT daily in passive income. Furthermore, the project demonstrated its growth ambitions by launching a second casino in November, underscoring its expansion goals.

To attract even more investors, Scorpion Casino is offering an additional 20% in $SCORP tokens for purchases made using the “SC20” code, adding to the project’s appeal for those looking to maximize their investment potential.

Chainlink (LINK) Surges By 15%

Chainlink kicked off 2024 with a notable 30% surge in value, including a significant 15% increase early in February, hinting at a bullish trend. Currently ranked 12th on CoinMarketCap with a market cap exceeding $10 billion, Chainlink’s robust performance raises the question: What drives its success?

Known as a “blockchain oracle,” Chainlink bridges smart contracts with real-world data, ensuring accurate and tamper-resistant data inputs. This not only enhances smart contract functionality across various blockchains but also secures its position as a crucial player in the DeFi ecosystem. Chainlink’s decentralized network offers reliability and security, making it an essential tool for developers and a promising asset in the blockchain landscape.

Avalanche (AVAX) Makes Big Gains In 2024 So Far

Avalanche has also seen a significant 15% increase in value over the last week, reaching a market cap of around $12 billion. Like Chainlink, Avalanche’s success can be attributed to its advanced blockchain features, including scalability, decentralization, and interoperability. Its Avalanche consensus mechanism offers rapid transaction finality and high throughput, tackling common scalability issues.

Moreover, Avalanche supports interoperability through its subnets, enabling the development of diverse dApps with various use cases. The platform’s vibrant DeFi ecosystem, gaming platforms, and NFT marketplaces, coupled with Ethereum compatibility for easy project migration, further enhance its appeal. Avalanche’s blend of performance, flexibility, and a growing ecosystem makes it an attractive option for developers and investors.

A Quick Summary

In the competitive 2024 cryptocurrency landscape, while Chainlink and Avalanche showcase impressive technological advancements and market gains, Scorpion Casino (SCORP) distinguishes itself with a successful presale surpassing $3.6 million. Its strategic BitMart listing and rewarding staking mechanism highlight its strong market potential and investor appeal. Offering an additional 20% in $SCORP tokens through the “SC20” code further solidifies its position as a compelling investment opportunity.

Scorpion Casino’s innovative approach, combining gaming with finance and offering lucrative passive income, positions it as a standout project. As Chainlink and Avalanche contribute to blockchain and DeFi’s growth, Scorpion Casino’s unique blend and presale incentives earmark it as the investment of choice for those seeking significant returns in the dynamic crypto market.

Find out more about SCORP:

 

Presale: https://presale.scorpion.casino/

Twitter: https://twitter.com/ScorpionCasino

Telegram: https://t.me/scorpioncasino_official

1...3,3743,3753,376...8,233Page 3,375 of 8,233

© Tekedia. All rights reserved.

Term & Privacy

© Tekedia. All rights reserved.

Term & Privacy