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Uwerx Bounces Back with Relaunch, Promising a Bright Future for the Community

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Despite the temporary setback caused by a recent exploit on its protocol, Uwerx continued its journey toward crypto innovation. The project has successfully performed its test airdrop alongside a token burn event. Also, it has set its relaunch date to occur by 12:00 PM UTC on October 25th. Continue reading to find out about other exciting releases by Uwerx.

Uwerx’s Initial Launch On Uniswap

After its remarkable presale activities, Uwerx launched on Uniswap on 1st August. The WERX token featured a 3% sell tax, 2% marketing, and 1% token burn. Meanwhile, the team locked its liquidity and promised to renounce contract ownership upon listing on CEX platforms.

In addition, a Uwerx Buy-back program was initiated to provide additional support for the project. The program was to be performed weekly and will scale according to performance. However, it was suspended while the reserved funds went into liquidity provision post-attack.

The development of the Uwerx freelance platform also progressed remarkably. Some completed platform features were Login, Privacy Policy, Finished Payments, Create Account, and Security Sections. Other designs, like the Dashboard features, were yet to be finalized. However, they completed the Uwerx Vault design and sent its contract address for audit.

Uwerx Meets Roadblock As It Loses About $327K In An Exploit

Shortly after its Uniswap launch, Uwerx became a victim of a malicious exploit and lost 176 ETH (approx. $327,000). An in-depth analysis of the incident by CertiKAlert and PeckShield Alert unveiled the attacker’s tactics: they obtained a flash loan of 20,000 ETH (worth more than $36 million) and quickly exchanged it into 5,053,637 WERX tokens.

Afterward, they returned 4,429,817 WERX to Uwerx’s pool on Uniswap. This was over tenfold the initial amount in the pool. Hence, it created an imbalance.

The hacker then leveraged Uniswap’s skim() function by setting the 0x00…1 address as the “to” address. This action caused the protocol to burn 1% of the initial WERX amount since the receiving address was a UniswapPoolAddress. Thus, the exploiter leveraged the imbalance and burn to make away with the 176 ETH.

Uwerx Regains Investors’ Trust As It Announces Relaunch Date

Uwerx rapidly contacted its auditors after the hack was confirmed. This was to ensure no further breach occurred. Also, its team announced its willingness to offer the attacker 20% of the lost funds as a bounty reward if they returned 80% of the funds. Meanwhile, the team initiated its action plan to ensure a swift recovery.

The WERX token will be relaunched on Polygon on 25th October at $0.056. The new WERX features a new contract address with a modified Uwerx Vault contract address. The two contract addresses have passed audits and have been updated on the Uwerx whitepaper and website. In addition, there’s a 9-month seal on the developer’s liquidity while the scheduled token burn event and the test airdrop of WERX tokens have been executed. Another airdrop will also occur shortly after the relaunch date. Thus, users are advised to finalize their receiving wallet addresses by 15:00 UTC on 8th October.

Before the relaunch date, YouTube media with explainer videos will be released. This will ensure users understand the details of the new WERX token. Users can send their reviews through the official feedback email, feedback@uwerx.network.

Furthermore, the new vesting period is 10 weeks, while the new sell tax is 30%, as voted in by the Uwerx community. The tax will be temporary and will decrease throughout the 10-week vesting period. This tax is designed to discourage malicious actors, while the funds generated will go into providing liquidity for Uwerx.

In addition, the design of the MVP version of the Uwerx freelance platform will be finished soon. The developers have finalized the designs for Creation of Courses by Freelancers and the service integration for Trello, Asana, Monday.com, and LinkedIn platforms. Also, the designs for the Webinar Section are complete.

Meanwhile, the developers hope to release the complete MVP version on 30th October, with a fully integrated platform ready after 6 months of design completion. Users can look forward to more updates about the WERX relaunch, MVP release, and full platform launch on Twitter (X), Telegram, and email.

Uwerx enjoys the full support of its investors as it has proven its commitment and potential to overcome future obstacles.

Can Scorpion Casino Token Join Historic Presales Like Filecoin and EOS?

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Presales, the earliest potential time to join a crypto project, have played a pivotal role in the crypto space, shaping the trajectory of groundbreaking projects. Scorpion Casino Token (SCORP) enters the stage with aspirations to join the ranks of historic presales like Filecoin (FIL) and EOS (EOS). Let’s delve into the features and potential of SCORP, drawing comparisons with these crypto trailblazers.

Scorpion Casino Token (SCORP) Builds Significant Momentum

SCORP presents prospective buyers with a multitude of reasons to join the community. With a focus on transparency and accessibility, SCORP’s ongoing presale attracts investors seeking more than speculative gains. Offering a 40% casino bonus, a 250k giveaway, and daily passive staking income, SCORP distinguishes itself by providing tangible utility within the online gaming ecosystem.

Plus, for a limited time, there is a bonus code available for those joining the SCORP presale – enter the code SC20 for a 20% bonus in SCORP tokens.

SCORP’s USP is forming a key part of the existing Scorpion Casino. There are thousands of ways to play and bet every day, including a sportsbook with 35+ sports, and more than 200 casino games to get stuck into. With the dual potential of a crypto presale coupled with online gambling, the potential for Scorpion Casino Token is almost unlimited.

Sneak Peak: Scorpion Casino Gets A Whole New Look
Sneak Peak: Scorpion Casino Gets A Whole New Look

Sneak Peak: Scorpion Casino Set To Leave Rollbit In The Dust

Is It True Filecoin (FIL) Hit $200m?

Filecoin disrupted the decentralized storage landscape with its ambitious vision. Launched in a notable presale, Filecoin aimed to create a decentralized file storage network. Its ICO raised over $200 million, reflecting the community’s belief in its potential. Filecoin’s success lies in addressing a specific industry challenge, creating real-world value through decentralized storage solutions.

How Did EOS (EOS) Break Records?

EOS, another heavyweight in the crypto realm, conducted a year-long ICO, raising over $4 billion. Positioned as an operating system for decentralized applications, EOS aspired to provide scalability and user-friendly features. While facing its share of controversies, EOS remains a prominent player in the blockchain space, showcasing the potential for vast-scale projects through presales.

Limited uses! Only the first 100 users will get the bonus!

Can SCORP Reach These Heights?

SCORP, Filecoin, and EOS represent diverse niches within the crypto landscape. SCORP’s integration of online gaming sets it apart, offering more than speculative value. Filecoin addresses storage challenges, providing practical solutions. EOS, with its focus on decentralized applications, showcases the scalability potential of blockchain. Each has distinctive features that contributed to its success in presales.

As SCORP navigates the competitive crypto seas, it draws inspiration from historic presales like Filecoin and EOS. While Filecoin tackled storage challenges, and EOS aimed at decentralized applications, SCORP merges crypto with online casinos.

The success of historic presales illustrates the market’s appetite for innovative solutions. While the road to joining the historic ranks is challenging, SCORP’s unique features and community support position it as a contender in the ever-evolving crypto landscape. Only time will tell if SCORP can carve its name alongside the giants of historic presales.

Find out more about the Scorpion Casino Token presale:

 

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

Twitter: https://twitter.com/ScorpionCasino

Telegram: https://t.me/scorpioncasino_official

Want Quick Crypto Wins? See How Scorpion Casino Token’s Presale Holds Up Against Popular Tokens Dogecoin And Shiba Inu

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Cryptocurrency enthusiasts are constantly on the lookout for the next big investment opportunity, seeking quick wins in this digital landscape. In this comparative article, we explore and analyze three contenders in the crypto world: Shiba Inu, Dogecoin, and the dark horse, Scorpion Casino Token (SCORP). While Shiba Inu and Dogecoin have made headlines for their meme-inspired popularity, Scorpion Casino Token operates as a promising crypto presale that has already raised over $ 1.4 million.

Shiba Inu: The Meme That Took Flight

Shiba Inu, affectionately known as “Shiba,” captured the crypto world’s imagination by presenting itself as an Ethereum-based meme coin. The “Shiba Army,” as its community is known, rallied around this adorable dog-inspired token. Shiba’s attraction lies in its perceived potential to replicate Dogecoin’s success. It aspires to provide an alternative to the famous meme coin, with an ecosystem that includes NFTs and decentralized exchanges.

Dogecoin: The Grandfather of Memes

Dogecoin, often referred to as “DOGE,” is the original meme-inspired cryptocurrency. It began as a lighthearted joke but has since gained immense popularity. Its longevity in the market is a testament to the power of meme culture and its community’s loyalty.

Dogecoin can be used for microtransactions and tipping content creators. It also boasts a low transaction cost and a vibrant community that often engages in philanthropic activities.

Limited uses! Only the first 100 users will get the bonus!

Scorpion Casino Token: The Crypto Presale Unleashed

Scorpion Casino Token (SCORP) is the standout in the online gaming world. It utilizes blockchain tech for top-notch security and transparency, all the rage in the crypto sphere. With the online gaming market expected to balloon to a whopping $145.6 billion by 2030, SCORP is in prime position to snag a significant slice of the pie.

Scorpion Casino Token boasts an extensive online gaming hub, with options ranging from a sportsbook to classic roulette and a plethora of captivating games. What sets SCORP apart is its sturdy tokenomics system, featuring buy-backs and burns, promising a dynamic source of passive income in the crypto arena.

Functioning as a presale for an online gaming platform, SCORP breaks down barriers for potential investors. The game-changer here is SCORP’s revenue-sharing system, unaffected by the crypto market’s ups and downs, making it an enticing choice for those seeking stable passive income.

SCORP Is Set To Soar

Shiba Inu and Dogecoin, with their meme-inspired roots, offer potential quick wins but come with higher volatility. In contrast, Scorpion Casino Token stands as a beacon of stability in the crypto market, driven by its connection to the lucrative online gaming industry and its innovative revenue-sharing system.

For those seeking an investment that combines the best of both worlds—cryptocurrency and online gaming—Scorpion Casino Token is a compelling choice. Its presale phase provides an exclusive opportunity to become a part of this exciting journey. Embrace the future of crypto investments and explore the world of Scorpion Casino Token today.

 

More info on Scorpion Casino Token:

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

Twitter: https://twitter.com/ScorpionCasino

Telegram: https://t.me/scorpioncasino_official

Grayscale Bitcoin Trust (GBTC) discount to net asset value (NAV) hits lowest level since 2021

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The Grayscale Bitcoin Trust (GBTC) is one of the most popular ways for investors to gain exposure to Bitcoin without having to buy and store it themselves. GBTC is a trust that holds Bitcoin and issues shares that trade on the secondary market. The shares are supposed to reflect the value of the underlying Bitcoin, minus a management fee.

However, GBTC often trades at a premium or a discount to its net asset value (NAV), which is the value of the Bitcoin it holds divided by the number of shares outstanding. The premium or discount depends on the supply and demand for GBTC shares, as well as the market sentiment towards Bitcoin.

Recently, GBTC has been trading at a significant discount to its NAV, meaning that investors can buy GBTC shares for less than the value of the Bitcoin they represent. According to data from YCharts, GBTC’s discount to NAV reached -20.7% on October 13, 2023, the lowest level since March 2020.

One of the main reasons for this discount is the lack of regulatory clarity around Bitcoin exchange-traded funds (ETFs) in the US. Many investors are anticipating that the Securities and Exchange Commission (SEC) will approve a Bitcoin ETF soon, which would offer a more convenient and cost-effective way to invest in Bitcoin. A Bitcoin ETF would also trade at or near its NAV, eliminating the premium or discount issue.

However, the SEC has been reluctant to approve a Bitcoin ETF, citing concerns about market manipulation, custody, liquidity, and investor protection. The SEC has rejected several Bitcoin ETF proposals in the past and has delayed or postponed its decisions on several others.

One of the most promising Bitcoin ETF applications was filed by VanEck, a leading asset manager with a track record of launching innovative ETFs. VanEck’s Bitcoin ETF would track the MVIS CryptoCompare Bitcoin Benchmark Rate, an index that uses prices from multiple exchanges and applies various filters and quality checks.

The SEC had until October 18, 2021, to approve or deny VanEck’s Bitcoin ETF, or to extend its review period by another 240 days. However, on October 15, 2021, the SEC announced that it would not appeal a court ruling that allowed VanEck to launch a similar product in Europe. This was seen as a positive sign by some analysts, who speculated that the SEC might be more open to approving VanEck’s Bitcoin ETF in the US.

As a result of this news, GBTC’s discount to NAV narrowed significantly on October 15, 2023, closing at -14.9%. This was the smallest discount since July 2023, indicating that investors were more optimistic about GBTC’s prospects and less eager to sell their shares.

While there is no guarantee that the SEC will approve VanEck’s Bitcoin ETF or any other Bitcoin ETF in the near future, the fact that it did not appeal the European court ruling suggests that it may be softening its stance on Bitcoin-related products. If a Bitcoin ETF is approved in the US, it could boost the demand for Bitcoin and reduce the discount for GBTC. Alternatively, if GBTC converts into an ETF itself, as it has stated its intention to do so, it could also eliminate the discount and trade at par with its NAV.

In any case, GBTC’s discount to NAV is an important indicator of the market sentiment towards Bitcoin and its investment vehicles. Investors who are bullish on Bitcoin may see GBTC’s discount as an opportunity to buy more shares at a bargain price, while investors who are bearish on Bitcoin may see GBTC’s discount as a reason to avoid or sell their shares. Either way, GBTC’s discount to NAV is worth watching closely as it reflects the evolving dynamics of the Bitcoin market.

Notable Provisions of The Regulatory Framework Governing The Safe Transport Of Dangerous Goods By Air In Nigeria

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Aviation Law :- The Regulatory Framework Governing The Safe Transport Of Dangerous Goods By Air

Air travel and transportation are not without their risks which might be significantly heightened when the safe conveyance of dangerous goods by air is involved. This is the basis in Nigeria through the Nigerian Civil Aviation Authority (NCAA) creating a regulatory framework governing the transport of such goods by air.

The notable provisions of this regulatory framework will be the focus of this article.

Scope & Subject Matter 

– The NCAA Regulations establish the regulatory requirements for the management and safe transport of dangerous good by air in civil aircraft.

– The rules set forth in this Part apply to both international and domestic commercial air transport operations.

Applicability

– The requirements of this Part shall be applicable to both domestic and international operations of civil aircraft.

-This Part prescribes the requirements of the Federal Republic of Nigeria that apply to the carriage of dangerous goods by air as specified in the International Civil Aviation Organization Document, Technical Instructions for the Safe Transport of Dangerous Goods by Air and all applicable amendments; and 

– To any person who performs, intends to perform or is required to perform any functions or activities related to the transport of dangerous goods, including:

1). The air operator in:

(i) Aerial work;

(ii) Commercial air transport;

(iii) General aviation; and

Any person responsible for the delivery or acceptance of air cargo;

2). Crews and employees, including contracted personnel who receive cargo, passengers and baggage or who handle, load and unload cargo;

3). The passenger of the air transport who carries any dangerous goods with him or in hand luggage or dispatched; an

4). The manufacturer and assembler of packaging for the air transport of dangerous goods.

5). Any instructions or limitations contained in the Technical Instructions for the carriage of dangerous goods on passenger or cargo aircraft, as therein defined shall for the purpose of this Part be interpreted as applying also to the carriage of such goods beneath passenger or cargo aircraft.

Definitions

For the purpose of the Regulations, the following definitions shall apply

– “Approval”:-An authorization granted by an appropriate national authority for:

 

 (i). the transport of dangerous goods forbidden on passenger and/or cargo aircraft where the Technical Instructions state that such goods may be carried with an approval; or

(ii)other purposes as provided for in the Technical Instructions.

Note: In the absence of a specific reference in the Technical Instructions allowing the granting of an approval, an exemption may be sought.

– “Cargo aircraft” :- Any aircraft, other than a passenger aircraft, which is carrying goods or property.

-“Consignment”:- One or more packages of dangerous goods accepted by an operator from one shipper at one time and at one address, receipted for in one lot and moving to one consignee at one destination address.

– “Crew member”:- A person assigned by an operator to duty on an aircraft during a flight duty period.

– “Dangerous goods”:- Articles or substances which are capable of posing a risk to health, safety, property or the environment and which are shown in the list of dangerous goods in the Technical Instructions or which are classified according to those Instructions.

-“Dangerous goods accident”:-An occurrence associated with and related to the transport of dangerous goods by air which results in fatal or serious injury to a person or major property or environmental damage.

-“Dangerous goods incident”:-An occurrence, other than a dangerous goods accident, associated with and related to the transport of dangerous goods by air, not necessarily occurring on board an aircraft, which results in injury to a person, property or environmental damage, fire, breakage,spillage, leakage of fluid or radiation or other evidence that the integrity of the packaging has not been maintained. Any occurrence relating to the transport of dangerous goods which seriously jeopardizes the aircraft or its occupants is also deemed to constitute a dangerous goods incident.

– “Designated postal operator” :- Any governmental or non-governmental entity officially designated by a Universal Postal Union (UPU) member country to operate postal services and to fulfil the related obligations arising from the acts of the UPU Convention on its territory.

Requirements For Transport Of Dangerous Goods By Air

Approval To Transport Dangerous Goods

-No operator may transport dangerous goods unless given an approval to do so by the Authority in accordance with this Part and the Technical Instructions.

– Each operator shall comply with the provisions contained in the ICAO Doc 9284, Technical Instructions for the Safe Transport of Dangerous Goods By Air hereinafter referred to as “Technical Instructions”, on all occasions when dangerous goods are carried, irrespective of whether the flight is wholly or partly within or wholly outside the territory of Nigeria.

– To obtain the approval to transport dangerous goods, the operator shall in accordance with the technical instructions establish operating procedures to ensure the safe handling of dangerous goods at all stages of air transport, containing information and instructions on: the operator’s policy to transport dangerous goods; the requirements for acceptance, handling, loading, stowage and segregation of dangerous goods; actions to take in the event of an aircraft accident or incident when dangerous goods are being carried; the response to emergency situations involving dangerous goods; the removal of any possible contamination.

Exemptions

-Where specifically provided for in the Technical Instructions, if Nigeria is the state concerned, the Authority may grant an approval provided that in such instances an overall level of safety in air transport which is equivalent to the level of safety provided for in the Technical Instructions is achieved.

– In instances of extreme urgency or when other forms of transport are inappropriate or when full compliance with the prescribed requirements is contrary to the public interest, the Authority may grant an exemption from the provisions of the Technical Instructions provided that in such instances every effort shall be made to achieve an overall level of safety in air transport which is equivalent to the level of safety provided for in the Technical Instructions.

-In case that Nigeria is the State of overflight, if none of the criteria for granting an exemption are relevant, an exemption may be granted by the Authority based solely on whether it is believed that an equivalent level of safety in air transport has been achieved.

Technical Instructions

-Any person who performs, intends to perform or is required to perform any functions or activities related to the transport of dangerous goods by air shall comply with the provisions contained in the Technical Instructions.

 

-Each operator shall comply with the provisions contained in the Technical Instructions on all occasions when dangerous goods are carried, irrespective of whether the flight is wholly or partly within or wholly outside the territory of Nigeria.

– Where dangerous goods are to be transported outside the territory of Nigeria, the operator shall review and comply with the appropriate variations noted by Contracting States contained in Attachment 3 to the Technical Instructions.

Notifications of More Restrictive Requirements Adopted By Operators

-An operator shall notify the authority when it adopts more restrictive requirements than those specified in the Technical Instructions. 

-The authority will ensure that when the operator adopts more restrictive requirements than those specified in the Technical Instructions, the notification of such variations are made to ICAO for publication in the Technical Instructions.

Surface Transportation

-Dangerous Goods intended for surface transport and prepared in accordance with the ICAO Technical Instructions shall comply strictly with the Authority’s procedures for Air transport of Dangerous Goods.

Civil Aircraft Operations

-No Operator shall handle or transport Dangerous Goods by Air without adhering to the provisions of this regulation as well as the Technical Instructions for the safe transport of Dangerous Goods by Air.

– Where an Operator adopts more restrictive operating guidelines, the  operator shall be assessed based on those restrictive guidelines which will be incorporated in the Technical Instructions.

Limitation on the Transport of Dangerous Goods By Air 

Dangerous Goods Permitted For Transportation By Air

-The transport of dangerous goods by air shall be forbidden except as established in the regulations and the detailed specifications and procedures provided in the Technical Instructions.

Dangerous Goods Forbidden For Transport By Air Under any Circumstances 

-Articles and substances that are specifically identified by name or by generic description in the Technical Instructions as being forbidden for transport by air under any circumstances shall not be carried on any aircraft.

Dangerous Goods Forbidden For Transport By Air Unless Exempted 

-The dangerous goods described hereunder shall be forbidden on aircraft unless exempted by the States concerned under the provisions of the NCAA Regulations or unless the provisions of the Technical Instructions indicate they may be transported under an approval granted by the State of Origin:

1) dangerous goods that are identified in the Technical Instructions as being forbidden for transport in normal circumstances; and

2). infected live animals;

3) weapons and ammunition;

4). explosives, unless required on board the aircraft for it operations;

5). poisonous gases;

6). infectious substances; and

7). radioactive material, radioisotopes and similar substances.

Operator Exceptions

– Articles and substances which would otherwise be classified as dangerous goods but which are required to be aboard the aircraft in accordance with the pertinent airworthiness requirements and operating regulations, or for those specialized purposes identified in the Technical Instructions, shall be excepted from the provisions of this Part.

– Where articles and substances intended as replacements for those described in the paragraph above or which have been removed for replacement are carried on an aircraft, they shall be transported in accordance with the provisions of this Part except as permitted in the Technical Instructions.

Passengers & Crew Exceptions 

-Specific articles and substances carried by passengers or crew members shall be excepted from the provisions of this Part to the extent specified in the Technical Instructions.