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Curve Finance Set to Launch LLAMMA – Curve’s StableCoin

By
Paul Ugbede Godwin
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0

Curve Finance, launched their stablecoin whitepaper recently, called the Lending-Liquidating AMM Algorithm [LLAMMA]. Been thinking about how lending markets are linked to fickle dex liquidity, LTV params are similar to option pricing. The problem with current CDP (collateral-debt position) stablecoins is that they have to liquidate undercollateralized positions to keep the peg. Partial liquidations help, but they have two problems: Expose CDPs to bad debt and Users get penalized for liquidations.

The core idea of Curve- Stable coin [CRV] is an AMM for continuous liquidation or de-liquidation. This Lending-Liquidating AMM converts between collateral (ETH) and a stable-coin. So when collateral price is high, user deposits all in ETH, but when prices goes down, ETH is converted to USD.

Thus, Pcenter is the price at which liquidity is formed. When ETH price reaches Pcu, AMM collateral is converted to USD. Once ETH price goes up and reaches Pcd, the AMM collateral is converted to all in ETH. Foobar, Tweeted on the limitation of AMM on Defi lending markets. Lending is inextricably dependent on AMM liquidity, but these AMMs are external, LPs can withdraw at any time, most protocols require active governance to approve or deny new token listings, or to modify LTV ratios in risky times.

https://twitter.com/0xfoobar/status/1595085744980529154?s=46&t=u6hFBiusXEjTZ1Zo5MWOvA

However, the biggest innovation in DeFi stable-coins is the Automated Market Operations. You see, the Fed engages in “Open Market Operations” by minting $USD to buy securities, lend to banks etc. This way it influences the money supply and manipulates interest rates.

Several stablecoins learnt well from the FED, Frax’s v2 monetary policy can issue new $FRAX as long as it does not change the FRAX price off its peg. Protocols can algorithmically mint FRAX and deposit it to Curve, Aave or anywhere else that the DAO deems beneficial.

Curve’s LLAMMA, solves this by making internalizing the AMM, making the collateral token be Liquidity Pool share, in the example of ETH collateralizing a USD stablecoin, the user would deposit ETH as collateral, but this gets transformed into an ETH/USD LP position as ETH price goes down, the LP position gradually sells some ETH and buys some USD, the token basically represents the reverse strategy of a market maker. Sure it’s going to lose a bit when markets are flat, but the whole point is that you’re paying a bit to take out the loan which spreads out liquidation risk.

Egypt’s B2B Startup Grinta Secures $8m in Seed Funding Round to Expand Operation

By
Samuel Nwite
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0

Egypt’s B2B marketplace startup Grinta has raised $8 million in a Seed funding round to be invested in scaling Grinta’s full-stack tech platform, expanding the team and accelerating growth across the Egyptian market.

The fund was co-led by Raed Ventures and Nclude. Other investors include Silicon Valley-based Endeavor Catalyst and 500 Global, bringing its total funding to date to $9.5 million.

“We are very excited to have the right investor base as our backers that share the same values and vision of making Pharma accessible and affordable across Africa. As we plan to expand our footprint in the main Pharma hubs on the continent, we will also enable Egyptian and regional Pharma manufacturers to further penetrate the $50 billion African market,” Mohamed Azab, co-founder and CEO of Grinta said.

Grinta was founded by serial Endeavour entrepreneurs; Mohamed Azab, Yosra Badr, Ali Youssef, and Hamza Mohamed, who are active members of the regional entrepreneurship ecosystem and have successfully built and scaled several healthcare companies over the last 12 years across Africa. The founders have attracted impact-driven top talents across all verticals and reached approximately 300 employees.

“Grinta is an exceptional team of serial healthcare entrepreneurs on a mission to improve access to and affordability of medicines in Egypt and Africa,” said Wael Nafee, Partner at Raed Ventures. “By empowering pharmacies to be more efficient at running their business, fixing a broken supply chain end-to-end, and partnering with all stakeholders in the value chain they will realise this vision. We’re proud to be doubling down on Grinta for this funding round as they expand across Africa.”

Grinta is a managed marketplace that modernizes the pharmaceutical supply chain by empowering independent pharmacies.

Endeavor Catalyst Managing Partner Allen Taylor said Grinta represents his company’s 10th investment in Egypt, making Endeavor Catalyst proudly one of the most active international investors in the country.

“As an Endeavor Entrepreneur and Board Member, we have witnessed how Azab’s multiplier effect has impacted the local ecosystem. Our recent mapping showed that he alone has already inspired, invested, and mentored more than 100 local businesses in the Middle East, and this is only the beginning. We are huge fans of Azab and his team, knowing they can lead the next frontier of innovation in Egypt,” Taylor said.

The end-to-end platform offers a seamless and easy-to-use experience, giving access to the full spectrum of traceable pharmaceutical and medical products from multiple vendors in addition to providing fulfillment, demand planning, and inventory financing.

The company is working with all stakeholders across the value chain, manufacturers, distributors, wholesalers, and pharmacies, to build a data-driven, reliable, and efficient pharmaceutical supply chain.

Egypt has strong local manufacturers, 3 large distributors and more than 3,000 wholesalers all targeting 60,000 fragmented retail pharmacies that are yet to be digitized, which makes it the largest pharmaceuticals market in Africa with a size surpassing $6 billion.

“Since inception in 2021, Grinta has acquired two companies, PH Store, a similar digital platform in northern Egypt, and EME, a software development company with a solid tech team. As a result, the company has expanded aggressively across seven governorates in Egypt, with over 14,000 registered pharmacies on its platform, 20,000+ SKUs and has delivered more than 100,000 orders over the last year,” Azab added.

Slump in Computer Sales Compels HP to Downsize Workforce Over The Next Three Years

By
Ojukwu Emmanuel
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0

American Multinational technology company HP has revealed plans to trim its workforce for the next three years, due to deterioration in the sales of its computer.

The company is estimated to cut up to 4,000 – 6,000 jobs by the end of 2025, which is about 12% of its global workforce.

As of the time of this announcement, HP’s share price grew by 1%, although its shares have been losing ground amid growing investors’ concerns about the company’s unimpressive financial results.

The company said in a statement, “Future Ready Transformation plan should result in annualized gross run rate savings of $1.4 billion or more in the next three years, with around $1 billion in costs including restructuring.

“Of that $1 billion, $600 million will come in the fiscal 2023 fiscal year, which ends Oct. 31, 2023. The rest will be split evenly between the 2024 and 2025 fiscal years”

HP is the latest tech company to unveil plans to trim its workforce due to global economic challenges.

In the third quarter of 2022, the company shares tumbled by 5.7%. It reported a solid bottom line for the third quarter (Q3), wherein its non-GAAP earnings increased 4% year over year to $1.04 per share from the $1.00 reported in the previous year’s quarter.

HP’s net revenues decreased 4.1% year over year to $14.7 billion, while in constant currency (cc), the revenue declined by 1.9%. The dismal top-line performance reflected a weak performance in HPQ’s Personal Systems and Printers segments.

The company’s revenue in the fiscal fourth quarter declined 0.8% year over year to $14.80 billion. Revenue in the Personal Systems segment, which includes PCs, fell 13% to $10.3 billion, as units dropped 21%.

Also, consumer revenue in the segment slid by 25%. Printing net revenue was $4.5 billion, down by  7% year over year, (down 6% in constant currency) with a 19.9% operating margin. Total hardware units were down 3% with Consumer units down 4% and Commercial units up 5%.

Consumer net revenue was down 7% and Commercial net revenue was up 1%. Supplies net revenue was down 10% (down 10% in constant currency).

Following HP’s continuous decline in share price and revenue, analysts predict that PC demand will continue to slow down this year, noting that HP could end up with too much inventory on its hands.

They believe that the PC industry will be affected due to the slowing consumer demand in several major markets such as Europe and China.

Reports reveal that demand for PCs spiked during the height of the covid-19 pandemic, but more recently, consumers have pulled back on some computer purchases amid rising inflation and fears about a potential recession.

Solana (SOL) and Ethereum (ETH) Might Be Trending, But The Best Investment Is Still Snowfall Protocol (SNW) – Experts Explain Why…

By
TI Partners
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0

The Solana (SOL) and Ethereum (ETH) platforms are trending lately. But is this really the best investment? Some experts seem to think otherwise, and they are pointing to Snowfall Protocol (SNW) as the most promising platform of them all. Here’s why…

“The Solana and Ethereum platforms have their merits,” explains one crypto expert.

“But Snowfall Protocol offers several features and tools that make it the best overall investment. For starters, Snowfall Protocol is a multi-chain interoperability protocol, which means that it facilitates secure asset transfer and cross-chain transactions between blockchains. This makes it the perfect platform for investors looking to diversify their portfolios across multiple blockchains.”

Another advantage of Snowfall Protocol (SNW) is its bridge, which is designed to generalize cross-chain communication and optimize the security model between asset transfers. This means that investors can make secure and optimized transactions across multiple blockchains, without worrying about the safety of their assets.

This is like how the Solana (SOL) and Ethereum (ETH) platforms are like different cities and Snowfall Protocol (SNW) is like a bridge connecting them. This makes transferring assets between the two platforms much faster and more efficient, as well as secure.

You can learn more about Snowfall Protocol (SNW) and why it’s better than both Solana (SOL) and Ethereum (ETH) here: https://snowfallprotocol.io

Siloed Problems With Solana (SOL) and Ethereum (ETH)

While Solana (SOL) and Ethereum (ETH) offer some great features, they are also limited in certain areas.

For instance, Solana (SOL) is mainly focused on scalability, while Ethereum (ETH) is more of a platform for smart contracts. This means that neither Solana (SOL) nor Ethereum (ETH) can offer investors the full suite of features they are looking for, which is where Snowfall Protocol (SNW) comes in.

Solana (SOL) and Ethereum (ETH) are both formidable blockchains as we enter into a multi-chain future, but we need a way to connect them, and Snowfall Protocol (SNW) is the perfect solution.

Next Steps

The Solana (SOL) and Ethereum (ETH) platforms are certainly worth exploring, but the best investment for long-term success is still Snowfall Protocol (SNW).

With its multi-chain interoperability, secure bridge, and optimized asset transfer system, experts are confident that Snowfall Protocol (SNW) is the best platform for investors looking to diversify their portfolios and maximize their returns.

(SNW) has already seen a remarkable growth of 140% during its presale stage, due in large part to its unique interoperability model. The next steps would be to allocate resources to further develop the platform so that investors can take advantage of its abundant features.

With such a promising start and an ever-growing demand for secure and efficient cross-chain transactions, Snowfall Protocol (SNW) is sure to become a top investment in the crypto space. Many experts are claiming that Snowfallprotocol.io has the potential to launch and grow at five-thousand percent.

Top market analysts predict that Snowfallprotocol.io (SNW) can be the next 1000x token. So, get in while you can and invest in Snowfall Protocol (SNW) today!

 

Presale: https://presale.snowfallprotocol.io

Website: https://snowfallprotocol.io

Telegram: https://t.me/snowfallcoin

Twitter: https://twitter.com/snowfallcoin

2023 NIGERIA’S ELECTION: Peter Obi and His Algorithmisation Campaign Strategy

By
Mutiu Iyanda
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0

As at October, 2022, the share market of Google search engine in Nigeria is 98.37%. This indicates that Nigerians prioritise the use of the product than others such as Yahoo and Bing while seeking information on the Internet. It is therefore appropriate to say that many Internet users are using the product to get information about the leading candidates ahead of the 2023 presidential election in Nigeria. A navigational search conducted on the search engine by our analyst reveals that information about Mr Peter Obi of the Labour Party has been highly normalised than other candidates, indicating a large number of publications about him from different sources.

There are approximately 21,600,000 results in the overall category, which includes news, videos, images, books, maps, shopping, flights, and maps. There are over 200,000 and 4,000,000 million results for understanding Mr Peter Obi in the news and video categories, respectively. Senator Bola Ahmed Tinubu, the All Progressives Congress presidential candidate, trails him with approximately 4,200,000 results in all categories, while over 700,000 results are also available for understanding him (Bola Ahmed Tinubu) within the news category. For him, our search yields approximately 1,220,000 results in the video category. The People’s Democratic Party’s candidate, Alhaji Atiku Abubakar, comes in third in all categories.

Having more information from various sources that do not appear to be paid for indicates that everyone is supporting his campaign movement. It has also indicated that there are limits to what politicians who have held various national positions can achieve through the use of new technologies. For example, the acceptance and discussion of Mr Peter Obi’s views on how Nigeria should be governed on the virtual sphere indicates that Nigerian youth, who primarily use emerging technologies, are assisting him in institutionalizing algorithmisation campaign strategy in Nigerian political campaigns.

Even though Mr. Peter Obi is gaining a sizable amount of attention on digital platforms, it is important to remember that in Nigeria, winning elections requires more than just having a group of “digitally inclined youth” to spread programmes and issues that would be addressed after the election. Nigerians need to have access to the final version of Mr. Peter Obi’s manifesto. This is necessary because previous information indicates that the final copy of the manifesto is not yet available. “We have not formally released our Manifesto. I will do so personally. It seems an earlier draft copy under review has made its way into the public space,” he notes in one of his tweets.

There is no doubt that a number of interviews with the local, national, and international media as well as appearances at various debates have identified issues that will be addressed. However, it is imperative that ideas are put down in writing for both immediate and future reference. After more than 50 days of campaigning across the country, the strategic agenda of the LP should not be difficult to disclose given that the APC and PDP presidential candidates have already released theirs.

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