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Shibarium Mainnet Launch Coming Soon, Avalanche Tokenizes $50M In Assets And $SIGN Offers 72x Potential ROI

By
TI Partners
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0

Shytoshi Kusama, the co-founder and lead developer of Shiba Inu (SHIB), has recently announced that the Shibarium mainnet launch will take place on the first day of the upcoming conference that will be held in Toronto from the 13th to the 17th of August. Avalanche (AVAX) has been in the news lately after announcing its plan to tokenize $50 million worth of assets with its new Avalanche Vista.

In this article, we will discuss these two news stories and their impact on the crypto market as well as introduce you to Signuptoken.com (SIGN), a new project offering 72x potential ROI to its presale investors.

Shiba Inu Announces Shibarium Mainnet Launch

Shiba Inu (SHIB), led by Shytoshi Kusama, is steadily gaining momentum in the crypto ecosystem. The upcoming launch of the Shibarium mainnet on the first day of the conference taking place in Toronto starting on August 13th, has further bolstered the project’s reputation. Kusama’s speech, powered by AI technology, generated considerable buzz and excitement.

Moreover, anticipation is high for the potential unveiling of the layer-2 Shibarium on the same day, coinciding with the third anniversary of Shiba Inu and Ethereum’s creation. The ecosystem’s decentralized structure, coupled with collaborations among various decentralized Shib projects and strong support from the ShibArmy, provides a robust foundation for future growth. Traders have shown keen interest, as evidenced by the nearly 1% increase in SHIB’s price from its 24-hour low.

Avalanche To Tokenize $50 Million Worth Of Assets

Avalanche’s (AVAX) foundation has a clear vision to tokenize $50 million worth of assets through Avalanche Vista, a program aimed at bringing digital versions of traditional investment products to the blockchain. The concept of tokenization is gaining significant traction in the crypto market, with an estimated potential market value of $16 trillion by 2030. As a strong contender against Ethereum, Avalanche offers faster transactions and impressive scaling capabilities, making it an appealing choice for investors.

Furthermore, Avalanche’s collaborations with renowned financial institutions, such as WisdomTree and T. Rowe Price, for testing and deploying blockchain-based services on its subnets positioned the platform optimistically for the future. Its sovereign subnet architecture adds another layer of uniqueness to the project, enhancing its appeal among investors and crypto enthusiasts alike. With these strong fundamentals and a clear focus on innovation, Avalanche is positioning itself as a competitive player in the crypto space.

SIGN Token Offers Jaw-Dropping 7200% ROI Potential

Signuptoken.com (SIGN) has quickly emerged as a promising project in the cryptocurrency market. Its innovative community-building approach, which includes both a traditional presale and a zero-cost email registration option, has captured significant attention.

With nearly 7000 subscribers so far, the project is steadily approaching its target of a million subscribers, at which point the project will release the tokens onto swap sites. These subscribers will be rewarded with the opportunity to purchase the tokens before the public as a reward for their early support of the project.

Signuptoken.com also offers presale investors the opportunity to earn a side income with the use of its referral program. After investing in the presale, users can generate and then share a personalized referral code, and each investment made through this code will earn the referrer a commission. It will also enter them into a competition that rewards the user with the most successful rewards.

Only one billion $SIGN tokens will be minted, of which 60% will be dedicated to the presale, 20% to community rewards, 15% to exchanges, and only 5% to the team. At this point in presale, one $SIGN token is worth $0.01, but after launch, each token will be worth $0.72. This means that the projected return on investment for $SIGN is a jaw-dropping 7200%.

As we gear up to witness the Shibarium mainnet launch on August 13th and Avalanche’s new Avalanche Vista, we are reminded of the crypto market’s thirst for innovation and creativity. SIGN Token brings those same qualities to the presale market with its innovative email subscription feature approach to community-building. Don’t miss out on this opportunity to potentially gain $SIGN’s 7200% ROI and lucrative referral rewards. Visit Signuptoken.com today and register your email to claim your spot in the millionaires’ club!

 

Signuptoken.com: Join The Millionaires’ Club!

Website: https://www.signuptoken.com

Twitter: https://twitter.com/_SignUpToken_

Telegram: https://t.me/SignUpToken

Hong Kong Expands Trial of China’s Digital Yuan

By
Paul Ugbede Godwin
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0

Hong Kong is taking another step forward in its efforts to integrate with China’s digital currency ecosystem. According to a senior official, the city will expand its pilot program of the e-CNY, or the digital yuan, to include more banks and payment platforms.

The e-CNY project is China’s ambitious plan to create a digital version of its national currency, the yuan. The project aims to enhance the efficiency and convenience of cross-border payments, as well as to support the internationalization of the yuan. Hong Kong, as a special administrative region of China and a global financial hub, has a significant role to play in the e-CNY project.

Hong Kong has been actively participating in the e-CNY project since its inception. In 2017, the Hong Kong Monetary Authority (HKMA) and the People’s Bank of China (PBOC) signed a memorandum of understanding to collaborate on the research and testing of the e-CNY. Since then, the two authorities have conducted several technical trials to explore the feasibility and interoperability of the e-CNY in cross-border scenarios.

The e-CNY is a digital version of China’s national currency, issued and controlled by the People’s Bank of China (PBOC). It is not a cryptocurrency, but a legal tender that can be used for online and offline transactions. The PBOC has been testing the e-CNY in several mainland cities since 2019 and has also launched cross-border trials with Hong Kong and Macau.

One of the major achievements of the Hong Kong-China cooperation on the e-CNY project is the launch of a pilot program in December 2020, which allows Hong Kong residents to use e-CNY wallets to make purchases at designated merchants in Shenzhen. The pilot program is part of the Greater Bay Area (GBA) initiative, which aims to foster closer economic and social integration among Hong Kong, Macau, and nine cities in Guangdong province. The pilot program has received positive feedback from both consumers and merchants and has demonstrated the potential of the e-CNY to facilitate cross-border consumption and tourism in the GBA.

Another important milestone of the Hong Kong-China collaboration on the e-CNY project is the announcement of a joint technical testing in May 2021, which involves using the e-CNY for cross-border trade settlement between Hong Kong and mainland China. The joint testing aims to evaluate the technical feasibility and operational efficiency of using the e-CNY for trade finance and invoice verification, as well as to explore the regulatory and legal implications of using the e-CNY for cross-border transactions. The joint testing is expected to provide valuable insights and experience for further expanding the use cases and scope of the e-CNY in cross-border contexts.

Hong Kong’s involvement in the e-CNY project reflects its strategic position and unique advantages as a bridge between mainland China and the rest of the world. By participating in the development and testing of the e-CNY, Hong Kong can contribute to the innovation and advancement of digital currency technology, as well as to the promotion and adoption of the yuan as an international reserve and payment currency.

Hong Kong can also benefit from the opportunities and challenges brought by the e-CNY project, such as enhancing its financial inclusion and competitiveness, strengthening its anti-money laundering and counter-terrorism financing capabilities, and managing its financial stability and monetary sovereignty.

In May this year, Hong Kong announced that it had successfully completed the first phase of its e-CNY trial, involving six local banks and the Hong Kong Monetary Authority (HKMA). The trial tested the technical feasibility of using the e-CNY for cross-border payments between Hong Kong residents and mainland merchants.

Now, the city is ready to move on to the second phase of the trial, which will involve more banks and payment service providers, as well as more use cases and scenarios. According to Edmond Lau, deputy chief executive of the HKMA, the second phase will start in the fourth quarter of this year and last for about six months.

Lau said that the HKMA will work closely with the PBOC to ensure that the e-CNY trial meets the regulatory standards and requirements of both sides. He added that the e-CNY will not pose any threat to Hong Kong’s monetary system or financial stability, as it will only be used as a retail payment tool and not as a reserve currency.

The HKMA also stressed that the e-CNY trial will not affect Hong Kong’s status as an international financial center or its role as a gateway between China and the world. On the contrary, Lau said that the e-CNY will bring new opportunities for Hong Kong’s financial sector and enhance its competitiveness in the digital era.

Spot ETFs vs. Futures ETFs

By
Paul Ugbede Godwin
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0

Exchange-Traded Funds (ETFs) are popular investment vehicles that allow investors to gain exposure to a basket of assets, such as stocks, bonds, commodities, or cryptocurrencies. ETFs are traded on regulated exchanges and can be bought and sold like any other security. However, not all ETFs are created equal. Depending on the underlying assets and the way they track their performance, ETFs can have different characteristics, risks, and benefits.

A spot ETF is an ETF that holds the actual asset it tracks in its portfolio. For example, a gold spot ETF would own physical gold bars or coins, and its price would reflect the current market price of gold. A spot ETF provides direct exposure to the asset and its price movements.

A futures ETF is an ETF that does not hold the actual asset, but instead uses futures contracts to track its performance. Futures contracts are agreements between two parties to buy or sell an asset at a predetermined price and date in the future. A futures ETF uses these contracts to gain exposure to the asset’s expected future price.

For example, a gold futures ETF would not own any physical gold, but would buy and sell gold futures contracts on a regulated exchange. The price of the futures contracts would depend on the market’s expectations of the future price of gold, which may differ from the current spot price.

A futures ETF provides indirect exposure to the asset and its price movements. However, it also introduces some additional factors that affect its performance, such as:

Rolling costs: Futures contracts have expiration dates, so a futures ETF has to periodically sell its expiring contracts and buy new ones with later expiration dates. This process is called rolling, and it can incur costs or gains depending on the price difference between the contracts.

Contango and backwardation: These are terms that describe the relationship between the spot price and the futures price of an asset. Contango occurs when the futures price is higher than the spot price, implying that the market expects the asset’s price to rise in the future. Backwardation occurs when the futures price is lower than the spot price, implying that the market expects the asset’s price to fall in the future. These situations can affect the performance of a futures ETF relative to a spot ETF.

Leverage: Futures contracts allow traders to control a large amount of an asset with a small amount of money, known as margin. This creates leverage, which magnifies both potential profits and losses. A futures ETF may use leverage to increase its exposure to the asset, but this also increases its risk and volatility.

Spot ETFs vs. Futures ETFs for Bitcoin

Bitcoin is a digital currency that operates on a decentralized network of computers. It has become one of the most popular and controversial assets in recent years, attracting investors, enthusiasts, regulators, and critics alike. Bitcoin spot ETFs are ETFs that hold actual bitcoins in their portfolio, either directly or through a custodian. They track the current market price of bitcoin and provide investors with direct exposure to the cryptocurrency and its volatility.

Bitcoin futures ETFs are ETFs that do not hold any bitcoins, but instead use bitcoin futures contracts traded on regulated exchanges to track its performance. They track the expected future price of bitcoin and provide investors with indirect exposure to the cryptocurrency and its volatility.

As of 2022, there are no bitcoin spot ETFs available in the U.S., as the Securities and Exchange Commission (SEC) has not approved any applications for them yet. The SEC has expressed concerns about the lack of regulation, transparency, liquidity, custody, and security of bitcoin and its market.

However, there are several bitcoin spot ETFs available in other countries, such as Canada and Europe. These ETFs have proven to be popular among investors who want to access bitcoin without having to deal with its technical complexities and risks.

In contrast, there are several bitcoin futures ETFs available in the U.S., as the SEC has approved some applications for them in 2021. The SEC has deemed these ETFs to be less risky than spot ETFs, as they use regulated futures contracts instead of unregulated bitcoins. However, these ETFs also have some drawbacks, such as higher fees, rolling costs, contango effects, and leverage risks. Moreover, they may not track the actual price of bitcoin as closely as spot ETFs do. There is no definitive answer to which type of ETF is better for bitcoin investors. It depends on various factors, such as:

Investment objectives: Investors who want to gain direct exposure to bitcoin and its price movements may prefer spot ETFs, as they reflect the actual value of the cryptocurrency. Investors who want to gain indirect exposure to bitcoin and its price expectations may prefer futures ETFs, as they reflect the market’s sentiment about the cryptocurrency.

Risk tolerance: Investors who are willing to accept higher risk and volatility may prefer spot ETFs, as they expose them to the full potential of bitcoin and its market. Investors who are more risk-averse may prefer futures ETFs, as they offer some protection from the regulatory and operational uncertainties of bitcoin and its market.

Cost efficiency: Investors who want to minimize their costs and fees may prefer spot ETFs, as they have lower expense ratios and no rolling costs. Investors who are willing to pay higher costs and fees for more convenience and accessibility may prefer futures ETFs, as they are easier to trade and available in more markets.

Spot ETFs and futures ETFs are two different ways of gaining exposure to an asset, such as bitcoin. They have different characteristics, risks, and benefits that investors should consider before choosing one over the other. Spot ETFs provide direct exposure to the asset and its price movements, while futures ETFs provide indirect exposure to the asset and its price expectations. Spot ETFs may be more suitable for investors who want to capture the actual value of bitcoin, while futures ETFs may be more suitable for investors who want to capture the market’s sentiment about bitcoin.

However, both types of ETFs have their own drawbacks and limitations, such as regulatory hurdles, cost inefficiencies, tracking errors, and leverage risks. Therefore, investors should do their own research and due diligence before investing in any ETF.

Nigeria’s Obi/Atiku v Tinubu case; No Be Who First Call Police Dey Win Case!

By
Stanley Alieke
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0

I will take the time to analyze the just delivered judgment of the court of appeal in Obi /Atiku V Tinubu’s Presidential election petition subsequently but before then, this is what I need you to know about not just election petitions but every other court proceedings in general. 

As a politician, try as much as possible to win the election and for you to be declared elected or returned elected. The reason for this is that there is a higher chance of the court affirming your election than sacking you. In fact, in all the presidential election petition cases that have ever taken place in Nigeria since 1999 when Nigeria returned to democracy, the court has never sacked an elected president, rather the court always affirmed their election. 

Despite the promises your lawyers have made to you, you should know that it is extremely difficult and technical to prove that an election was rigged in today’s Nigeria. This is not an injustice or judicial problem but a statutory problem. The threshold that is been provided in the constitution, the electoral act and other statutes for an aggrieved contester to meet before he can prove that he was the rightful winner of the election or that the person that was declared a winner did not actually win or prove that the election was rigged or marred with malpractices is high. The threshold to prove that is not just high but also technical. 

Not just in election cases, but even in criminal or other civil cases, it is easier to defend yourself or to be the defendant than to be the plaintiff or the prosecutor. It is an old common law rule that he who alleges must prove, so if you claim that the election was rigged or marred with electoral malpractices, the onus is on you to prove to the court beyond every reasonable doubt that the election was truly rigged. If you are the defendant, you don’t need to prove that the election was not rigged or that you were duly elected, it is not your job to do that. 

This brings me to my next point; always try to be the defendant or respondent instead of the plaintiff or the applicant. Let them be the ones taking you to court instead of you taking other people to court. Financially speaking or resource-wise, it is more expensive to file a case or institute a fresh matter than to file a defense or response to a case. 

Local parlance will say “no be who first call police Dey win case” or “no be who first run reach police station Dey win case”. This pidgin popular quote tends to be true in many cases; because if you claim that you were wronged, you will have to prove that you are truly wronged for the court to believe you and while you are trying to prove that you were wronged to the satisfaction of the court, you will as well have to pay critical attention to statutory provisions and rules of court to guide you if not you will lose the case on technical ground before the substance of the case is even determined. 

Losing on technical grounds means that your case was not even decided on its merits or the substance of your case was not even looked into yet but because you did not pay attention to the rules guiding the filing of your case or the process to conduct the case, the case was either dismissed, struck out or that the other party won the case; this may be due to lack of service, ie you did not serve or properly serve the other party, statute barred ie the time within which you are to bring that case to court has passed, lack of jurisdiction of the court or that the case was not properly filed or instituted etc. 

For the sake of emphasis, always remember that “no be who first call police Dey win case”, so lower your expectations while you run to court in your quest for justice. Most importantly, bear in mind the judges are mere humans like you who can make mistakes or can be bribed. That is why you might have a good case, conduct the case in the expected manner and you will still lose the case. Hence, the court or the judges are not always right, not even the Supreme Court which is the highest court in the land. This is why the late Robert Jackson of the United States Supreme Court made this famous quote about the Supreme Court; “We are not final because we are infallible, but we are infallible only because we are final”. 

African Fintech Unicorn Flutterwave Expands Payment Services to India

By
Ojukwu Emmanuel
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0
Flutterwave team

African Fintech unicorn, Flutterwave, has partnered with Induslnd Bank, an Indian financial services company headquartered in Mumbai, to offer its remittance product in India.

The partnership will enable Flutterwave to expand its remittance product, Send App, to the 5th largest economy in the world, to the African continent.

Speaking on Flutterwave’s expansion to India, the company’s CEO Olugbenga Agboola said,

“The Indian expansion for Flutterwave will be the first African company to do this at the scale where remittances from India to Africa become seamless and quick”.

Agboola who is currently in India, after he got an invite from Nigeria’s President Bola Ahmed Tinubu, to attend the Nigeria-India Business Roundtable which took place on the sidelines of the G-20 Summit, said that Flutterwave will look for more partners to increase its presence in India.

He added that a closer and well-defined regulatory collaboration between the two countries could help promote and encourage knowledge sharing, technology transfer, and enhance the Nigeria-India remittance corridor.

This proposition according to him is drawn from the need to have more of what Flutterwave does in partnership with leading companies in India like IndusInd Bank and Capgemini.

Through Indusind Bank, Flutterwave is building a quick and secure remittance corridor from the UK to India. The company is also exploring a second phase of the partnership including Nigeria to India and back.

The relationship with Capgemini involves assisting our digital transformation to Microsoft Azure and creating our first-ever engineering mobility program to facilitate knowledge-sharing and technology transfer between Nigerian and Indian Engineers.

Flutterwave expansion to India is coming weeks after CEO Agboola announced that the startup will be continuing with its initial public offering (IPO) in its bid to access bigger partners.

Notably, this announcement came after the fintech platform had made headway in resolving allegations of financial impropriety in Kenya.

This year has also seen the company launch Tuition, a product that lets African users pay fees to educational institutions both within Africa and overseas by using local currencies, and form a partnership with Token.io to offer pay-by-bank capabilities.

Agboola has expressed confidence in the company’s ability to expand and grow its reach further. According to him, there is the possibility for expansion into new markets and possible acquisitions when possible.

Founded in 2016, Flutterwave has grown to become one of the fastest-growing payments companies in the world. The African unicorn has rapidly expanded and now has a presence in about 30 African countries.

Flutterwave is on a mission to build payments infrastructure to connect Africa to the global economy.

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