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PancakeSwap and Serum Are Both Trending! But The True 1000x Innovation Is Snowfall Protocol!

By
TI Partners
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0

You may have heard of PancakeSwap (CAKE) and Serum (SRM), both of which are trending currencies in the crypto world. But if you’re looking for true innovation, you need to look at Snowfall Protocol (SNW)!

This is because Snowfall Protocol (SNW) is the first cross-chain transfer ecosystem built for fungible and non-fungible tokens. That means that you can use it to swap assets across different blockchain platforms – even those that are incompatible with each other!

This makes Snowfall Protocol(SNW) an essential tool for anyone who wants to communicate with every blockchain out there. This is like how the first printing press was essential for the spread of knowledge across Europe – it’s a game-changer that will make it possible for millions of people to access the full potential of cryptocurrencies.

Website: https://snowfallprotocol.io

Presale: https://presale.snowfallprotocol.io

Snowfall Protocol (SNW) has already shown tremendous growth since its presale stage began, with an increase of more than 140%. This is due to their unique compatibility model.

What Is PancakeSwap (CAKE)?

PancakeSwap (CAKE) is a decentralized cryptocurrency exchange built on the Binance Smart Chain. PancakeSwap (CAKE) allows users to trade digital assets in a trustless and permissionless manner.

This DEX has become popular as the Binance Smart Chain continued to grow. However, you can only use PancakeSwap (CAKE) to trade assets that are compatible with the Binance Smart Chain. PancakeSwap (CAKE) does not support cross-chain trading. This hindrance will become more apparent as the number of blockchains increases.

Dependency on Binance is also a concern as the Binance Smart Chain (BSC) is a Binance product. If PancakeSwap (CAKE) experiences any issues, it would likely be due to problems with the Binance Smart Chain (BSC). As a centralized entity, Binance can make changes that PancakeSwap (CAKE) may not agree with. This gives PancakeSwap (CAKE) less control over its own destiny.

What Is Serum (SRM)?

Serum (SRM) is a decentralized exchange built on the Solana blockchain. Serum (SRM) offers fast and cheap transactions. However, Serum (SRM) only supports assets that are compatible with the Solana blockchain. This too shows how a lack of interoperability can be a hindrance to a project’s growth.

The Serum (SRM) team has made some mistakes. For one, the platform is not user-friendly. The interface is complicated to navigate. This has been a turnoff for many potential users. In addition, the Serum (SRM) is not widely known. It doesn’t have the same brand recognition as PancakeSwap (CAKE) or Binance.

The Bottom Line

PancakeSwap (CAKE) and Serum (SRM) may offer digital asset swaps, but they are stuck on their own platforms. They both lack the true innovation of Snowfall Protocol (SNW), which has the potential to connect every blockchain in the world.

Experts predict that Snowfall Protocol (SNW) has the potential to grow 5000% by the time it is launched. Top market analysts predict that Snowfallprotocol.io (SNW) can be the next 1000x token. So if you’re looking for true innovation in the world of crypto, don’t procrastinate – buy Snowfall Protocol (SNW) today!

 

Presale: https://presale.snowfallprotocol.io

 Website: https://snowfallprotocol.io

 Telegram: https://t.me/snowfallcoin

 Twitter: https://twitter.com/snowfallcoin

Solana’s Connection with FTX might lead to Collapse of the Chain

By
Paul Ugbede Godwin
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0

No Blockchain Infrastructure has been hit harder by the FTX fallout, than the Solana Blockchain. Over the past two years, Solana Blockchain has rapidly risen to be one of the largest blockchains by both market capitalization and usage. This growth was largely driven by Sam Bankman Fried who was both a massive investor and voice for the ecosystem.

Solana’s connections with FTX/Alameda

Alameda Research and FTX, owned 58.08M SOL tokens which represents nearly 11% of the Solana total supply. Between FTX bankruptcy, lockup periods, and the recent hack, it’s unclear how much of this has been dumped already versus how much will be tied up in litigation. In the past seven days, $SOL has tanked -51% in price, putting it at -94% below its all time high. It’s not entirely clear how much of this was from FTX/Alameda dumping vs. other insiders/holders dumping out of fear of the unknown.

Aside from just the SOL token price tanking, Solana DeFi has also taken a massive hit. After hitting a high of $10.17B back in November, Solana TVL is down to just $327M according to DefiLlama, this comes off heels of the $100M+ Mango-markets hack last month. A lot of this has to do with a project called ProjectSerum, which was a top DEX on Solana and provided liquidity for other Solana protocols. Unfortunately, Project Serum was launched by SBF, apparently Serum program ‘update’ private key was controlled by FTX which makes it compromised.

Most of the top Solana dApps such as MagicEden and Phantom have dropped support for the legacy Serum protocol and the community is working on a fork. $SRM is down 58% in the last week off the news. Specifically, $soBTC and $soETH, are being dumped since they were both backed by collateral on FTX. FTX was also heavily invested in the Solana ecosystem through FTX ventures and Alameda. This includes projects such as helium which is migrating to DustLabs (team behind DeGodsNFT), and Solcialofficial (a Web3 social network).

Solana Foundation had some direct exposure of its treasury to FTX. They had $1M in assets stuck on FTX before withdrawals were paused (<1% of total treasury). They also hold 3.24M common shares of FTX trading & 3.43M in $FTT both have likely tanked to near $0. Relatively, Binance announced on Nov. 17 that deposits of Solana-based USDT and USDC have been “temporarily suspended until further notice” on the platform.Other top CEXs like; Bybit, Kraken, and OKX have also halted deposit on the USDC/USDT- Solana pair on their platforms. Circle, the Issuer of USDC and Euro Coin tweeted that there’s no issues with Issuing and Redeeming USDC.

However, Circle doesn’t offer a way for retail customers to redeem USD on-ramp USDC, assuming the regulatory risk is way too high to be worth bothering with retail. They can onboard the banks that then onboard the retail similar to Zelle’s model. The biggest safeguard for retail is that they’re able to redeem SPL-USDC through Circle, otherwise retail SPL-USDC holders are beholden to CEXs, who could close deposits, and wormhole liquidity pools which could dry up at any given time.

The Gambling Situation in Norway

By
TI Partners
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0

There are gambling fans in pretty much every corner of the world. Unfortunately, not all of them get to enjoy their favorite hobby. There are regions where gambling is outlawed, and there are places where you are free to play whatever you like. However, we are seeing trends that online gambling is slowly getting accepted in countries and states where it used to be illegal.  Lots of European countries have both online and land-based gambling, and here we will be focusing exclusively on Norway. Let’s see what sets it apart from the rest and what is the current gambling situation there.

Gambling Entertainment Available in Norway

The truth is that Norwegian gamblers have access to an array of online casino sites. However, they are heavily advised to only use state-owned online casino Norway platforms. Many gamblers who want to play at a new casino in Norway go to the Gamblizard platform to find reliable operators. These are all licensed sites owned by foreigners and those who want to experience more than online slots Norway casinos offer turn to these options.

Is it Legal to Play on Online Casinos Sites? 

Technically, the only legal online casino in Norway sites are the ones offered by Norsk Tipping AS. They are the only company that is legally allowed to host this entertainment. That being said, authorities do not pursue people who opt for foreign operators. This means you can access the new casino site from https://gamblizard.com/no/nettcasino/nye-casino/ and you won’t get in trouble. That being said, the regulators took some steps to make it difficult for users to access or play on these platforms. 

History of Casino Entertainment in Norway

Gambling has been legal here for decades but the state decided to monopolize it. Norsk Tipping is the major player in the market and it has been ever since 1948. Norge betting entertainment, lottery, and a variety of games that allow you to make money online in Norway are offered by them. The idea is to use all of those funds for the betterment of local culture, sports, and the economy in general. 

The Norwegian government went a step further and created regulations that basically deter foreign operators from operating in Norway. In 2017 they even made it more difficult for citizens to play on foreign gambling sites by refusing to process those payments. They even banned commercials that come from abroad and advertise gambling. 

Another interesting fact from recent history has to do with slots. Slot machines were made illegal in 2007 and brought back in 2009. They are called ITV or interactive video terminals. 

Finally, poker is legal in private homes, so long as these are low-stakes games. Also, in 2014 National Poker Championship was also legalized.

Cryptocurrencies Are a Game Change

Even with all of the methods to suppress foreign gambling sites, casino fans still managed to access them. Cryptocurrencies play an important role in this arrangement, as they don’t rely on bank payment routes. Nowadays, lots of foreign operators accept payments in crypto, and this is actually the fastest and cheapest way to transact online. That being said, the market is far from stable, and recent events only serve as a reminder. So, it seems you are taking a risk even trading nowadays, as the values of cryptos tend to fluctuate frequently.  

Lack of Land-Based Casinos

Those who prefer online casinos Norway has to offer aren’t really affected by this, but many gamblers love to socialize. The ITVs are available in pubs and restaurants, but they aren’t exactly a replacement for a casino. Even live dealer games aren’t available, which is another reason why users often gravitate toward foreign operators. 

Conclusion

On the one hand it is good that the state can use all the money for the betterment of the country. From that angle, a monopoly on gambling isn’t such a bad thing. In fact, many are encouraged by this fact to spend more, as they feel like they are donating. However, the quality of content can suffer in this case. With a lack of competition, there is no need to create engaging promotions and bonuses. Moreover, there is no need to create better content for the users.

The clash of ego between Wike and Ayu will cost PDP heavily in Nigeria Election 2023

By
Stanley Alieke
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0

The fight between Governor Nyesom Wike of Rivers state with his faction (the G5 governors) and the PDP which was initially personal against the removal of Iyorcha Ayu is just a clash of ego; nobody wants to let go of his ego for the sake of peace and progress of the party and this clash of ego is about to cost them their presidential bid. 

In all these, it is Alhaji Atiku Abubakar, the presidential flag bearer of the party that will bear the brunt, and that begs the question; what is Atiku Abubakar and his team doing and have  been doing to resolve this fight between the G5 governors led by Wike against the PDP led by Iyorcha Ayu or does he by any stretch of the imagination dream that he can win the presidential election without the support of 5 major PDP governors?, whoever is giving the go-ahead is actually deceiving him, because having followed elections in Nigeria critically, I can make the bold assertion that without the supports of those governors, He Will Not Win. 

If it is the ego that is stopping him from approaching Nyesom Wike and listening to his demands then the ego wants to rob him of another chance of him becoming the president of Nigeria; if it is because he (Atiku) shares a personal relationship with Iyorcha Ayu, hence why he won’t support his  removal as the party national chairman, then his is not ready yet to be the next president of Nigeria and he just wants to waste his money again for campaigns and come back to repeat the process in the next four years 

In all fairness, despite the fact that Governor Nyesom Wike might have a personal vendetta against Iyorcha  Ayu, the national chairman of the PDP, what Wike and the rest four governors are demanding is the right thing and it is what the PDP constitution provided for; “Equitable and just representation of every region in the party structure”. 

The presidential flag bearer and the party national chairman must not come from the same region; since the presidential flag bearer in the person of Alhaji Atiku Abubakar is from the northern region, it is only equitable, just, and fair that the party chairman comes from the southern region and not also the Northern region, hence why Iyorcha Ayu should resign to give room for a southerner to take over the leadership of the party. This is the core demand of the G5 governors and other aggrieved members of the party in their camp.

Other party members were dismissive of this fight which was started by Wike, that Wike will come to terms and back down, but there is every indication that Wike is not backing out of the fight anytime soon until his demands are met and he has been able to successfully sell this fight to other four governors and has gathered a lot of followers out of the PDP who has joined him to chant and demand in one voice that “Iyorcha Ayu must resign”.

Let us even assume that Wike has personal grievances against Ayu, hence why he is calling for his resignation, can we also say that the rest four governors who have also joined the Wike camp also have a personal issue against Ayu?, especially a governor like Seyi Makinde of Oyo state, who unwaveringly stated that he does not mind sacrificing his re-election bid for the second term as the governor of Oyo state, he just want the right thing to be done, which is the equitable representation of all region in the party structure.

The PDP in all indications has shown that they are not ready for this election, they just want to put up a show and waste money again. When they are ready Nigerians will know, they need to first put their house in order if they really mean business.

Naira Redesign: CBN Introduces Policy to Protect the Unbanked, Underserved and Rural Dwellers

By
Samuel Nwite
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0

The Central Bank of Nigeria (CBN) has unveiled a new plan to protect rural dwellers and others who may be affected by the redesign of naira notes.

Last month, the financial regulator announced the decision to redesign N200, N500 and N1,000 notes in a move aimed at curtailing the amount of money outside the banks. The CBN also said the naira notes’ redesign will help in curbing money laundering, counterfeiting, terrorism and vote-buying as the 2023 general elections draw near.

However, while the move has been widely applauded, concerns have also been raised about it. The CBN said the redesigned notes will be released from Dec 15, and consumers have until Jan 31, 2023 to return the old notes to the banks. For rural dwellers, the unbanked and the underserved, meeting the deadline poses a challenge.

Against this backdrop, the senate has also joined the call for the CBN to extend the deadline to accommodate those not adequately covered through financial inclusion.

In a statement titled: “Currency Redesign: CBN Commits to Protecting Nigerians in Unbanked, Underserved, and Rural Areas,” which was signed by CBN’s Director of Corporate Communications, Osita Nwanisobi, the apex bank said it has taken steps to ensure that the policy is duly implemented nationwide without causing any group of people financial harm.

The CBN said agent locations across the country have been fully enabled for BVN registration, opening banking accounts/wallets & e-Naira wallets, electronic card distribution, and cash deposit, among others. This is to enable rural dwellers to deposit their old naira notes before the deadline.

Read the press statement below:

Further to its Press Release of October 26, 2022, on the above subject, the Central Bank of Nigeria (CBN) is pleased to note the positive response of the banking public to the policy through increased currency deposits across banks and other financial institutions.

The CBN remains committed to the seamless implementation of the initiative to ensure the achievement of its objectives to preserve the integrity of the local legal tender by reducing the significant amount of cash outside the banking system and its use in criminal activities, curtail counterfeiting, and promote financial inclusion, amongst others.

Whilst noting the progressive increase in financial access points and alternative banking channels over the years (electronic/internet banking, mobile apps, ATM, Cards/PoS, eNaira, agent banking, etc.), the Bank acknowledges that these may not be evenly distributed across all geopolitical zones and in some rural areas. In operationalizing this initiative, the CBN has been collaborating with relevant agencies and other stakeholders in the financial system in its execution, particularly ensuring that vulnerable citizens are not disenfranchised.

Accordingly, the banking public in rural and/or underserved areas may access CBN branches in the 36 States of the Federation to enquire about options for depositing their current N200, N500, and N1,000 notes, wallet/account opening processes, financial access points, etc.

Furthermore, agent locations across the country have been fully enabled for BVN registration, opening banking accounts/wallets & e-Naira wallets, electronic card distribution, and cash deposit, among others. Due to the policy, the agents have also been accorded priority to enable them to deposit cash collections through bank branches across the federation.

The Bank shall continue to monitor developments and issue updates to the banking public on the implementation of the Naira redesign policy as may be necessary.

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