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Ecobank Group Launches 2022 Edition of its Fintech Challenge with US$50,000 Prize Money

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Fintech Challenge offers early stage and mature start-ups the potential to partner with Ecobank  across 33 African countries; Applications open until 16 September.

Pan-African banking group, Ecobank Group, has launched the fifth edition of the Ecobank Fintech Challenge and encourages African Fintech entrepreneurs to enter the competition.

Fintechs that are aligned with the Bank’s strategic objectives stand a chance to win an overall cash prize of US$50,000 for the top winner and the opportunity to partner and scale their solutions across Ecobank’s 33 African markets.

Fintech companies and developers originating from any of Africa’s 54 countries, as well as global Africa-centered Fintechs, are eligible to enter the Fintech Challenge by visiting here. Applications can be made until the 16 September 2022.

Ten finalists will be inducted into the Ecobank Fintech Fellowship after the finals and awards ceremony which will take place in October 2022.

In addition, all Fellows will qualify to explore the following opportunities with the Bank and its partners:

  • Multinational products roll out: an opportunity to pursue integration with Ecobank and potentially launch products in all or part of Ecobank’s pan-African 33-country ecosystem.
  • Service provider partnerships:  Ecobank may select some Fintechs as pan-African service partners within the Bank’s ecosystem.
  • Access to Ecobank’s Pan-African Banking Sandbox: Fellows will be given access to Ecobank’s APIs to test and improve their products for the pan-African market.
  • Priority Access to Ecobank’s Venture Capital partners for funding exploration.

Ade Ayeyemi, Chief Executive Officer, Ecobank Group, said “Ecobank believes that the only way to transform financial services in Africa is for Pan-African banks like Ecobank to continually support and collaborate with innovative Fintechs and start-ups. We invite and welcome Africa’s best Fintechs to work with us through the 2022 Challenge.”

Dr. Tomisin Fashina, Operations and Technology Executive, Ecobank Group said, “The uniqueness of the Challenge is that it welcomes both early stage and mature start-up Fintechs alike and seeks to align them with different kinds of partnership opportunities within Ecobank that match their differing levels of maturity.”

The Ecobank Fintech Challenge was designed in partnership with international advisory firm, Konfidants and is supported by partners across Africa and globally. So far 46 Fellows have been admitted into the Ecobank Fintech Fellowship programme since it was launched in 2017.

For more information about the competition, its benefits and how to apply, please visit here

Pugglit Inu: A Futuristic Meme Coin Addressing Ethereum’s Faults

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Meme coins have grown in popularity by allowing internet communities to easily join the cryptocurrency world. However, while the focus has always been on established crypto projects like Bitcoin (BTC), they remain inaccessible given the boatloads of processing power needed to mine them.

In contrast, meme coins are readily available and accessible, offering a way for online communities to collaborate and create decentralized stores of value and bases of exchange. Pugglit Inu (PUGT) is an emerging meme coin project that seeks to address common issues synonymous with established projects such as Ethereum (ETH).

Understanding Pugglit Inu

Pugglit Inu is a new meme coin project backed by a meticulous record-keeping and environmental consciousness. It is a novel solution to many problems gripping the cryptocurrency sphere around digital assets accessibility, flexibility, security, and transaction costs.

With the project, a new digital meme token will be on offer for widespread use in a decentralized, secure, and environmentally sustainable platform. In addition, token holders stand to earn half of all the transaction fees generated on the network as a way of encouraging more people to own it.

Additionally, Pugglit Inu comes with Pugglit Swap, a decentralized and secure platform that people can use to exchange Pugglit tokens for other tokens and trade freely, among others. Pugglit Basket is a secure wallet that offers token holders a secure way of storing their tokens. It comes with powerful cryptographic security and a user-friendly interface. Users will be able to track their transaction rewards and tokens without any challenges.

Pugglit Inu vs. Ethereum

Ethereum is one of the most established cryptocurrency projects, having made a name for itself in the development of smart contracts and decentralized applications. Despite the high transaction costs and congestion issues, it is a developers’ hub that always comes into play.

In addition, Ethereum often proves inaccessible given its high valuation. The high cost of mining the coin has also made it inaccessible to the masses. In addition, airdrops remain limited and rare. These are some deficiencies that Pugglit Inu seeks to address as a futuristic meme coin.

On the other hand, the Pugglit Inu network operates as a decentralized autonomous organization (DAO), whereby governance is brought to the community members on the platform. Each platform member is to have a part of the ownership of the platform’s resources and take part in its maintenance. The primary goal is to break the chain of online scams and fraud by building a transparent and secure system.

The decentralized financial ecosystem of Pugglit Inu transfers the decision-making process from a central entity or a select clique to all the members of the Pugglit Inu community. The fact that every voice in the ecosystem is heard, enhances transparency and security.

Pugglit Inu Tokenomics

$PUGT is the native token that powers the Pugglit Inu network. It acts as a medium of exchange on which all transaction fees are settled. Built on the Binance Smart Chain, it ensures half of all the transaction fees generated on the ecosystem are distributed to token holders. The remaining half goes to the liquidity pool to help maintain a stable price floor.

The $PUGT token is a utility token that sponsors the decentralization of the entire project. It comes with a maximum supply capped at 100 billion. Token holders will have the right to vote on all proposals to the network or ecosystem. Similarly, the more active the token holders are, the more rewards they stand to earn.

Pugglit Inu Prospects

Pugglit Inu is a futuristic meme coin with a real-life application that sets it apart. The community-driven project has transformed the way transactions are carried out on the blockchain by enhancing security and reducing transaction costs. In addition, it seeks to improve the wrapping for tokens on various blockchains.

While addressing most of the issues that have clobbered established projects, it also promises to offer a way for pet owners to interact while providing them with a secure and sustainable app for linking with qualified pet sitters and pet walkers.

https://pug.pugglitinu.com/register

These Three Strong Coins Can Reshape the DeFi Industry: GryffinDAO, Uniswap, and THORChain

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Stablecoins are tokens pegged to national currencies administered by governments. So, they can actually gain and lose value, which can happen in short periods. This is why many stablecoins are subject to price fluctuations nowadays, but this is not very noticeable due to their inherent stable nature. On the other hand, the GryffinDAO (GDAO) project was created based on keeping the value constant. The platform is preparing to become a store of value, unlike standard stablecoins.

GryffinDAO (GDAO) Shows A Bullish Trend!

GryffinDAO (GDAO) is a cryptocurrency built on Binance Smart Chain’s BEP-20 protocol and will remain algorithmically tied to its price. The total supply of GDAO is 500 million, and the number of tokens distributed through pre-sales is determined as 100 million. It also plans to use the resulting supply to maintain its stability in terms of price performance.

It is also stated in GryffinDAO (GDAO) that all users can participate in governance. In this ecosystem, which will have a local stock market, NFT trading and printing will also be possible. Thanks to the project, which will also offer staking services, all users will have the chance to earn passive income. On the other hand, asset trading will spread over a wide area with the liquidity pools to be established.

Uniswap (UNI) And Ethereum Is a Match Made in Heaven!

The Uniswap (UNI) Protocol is an open-source protocol for providing liquidity and trading ERC20 tokens on Ethereum. The protocol enables its users to trade any two ERC20 tokens without needing a centralized exchange. In addition, the protocol includes several features that make it an attractive option for users looking to trade digital assets. These features include Uniswap (UNI)’s ability to provide liquidity on demand, support for multiple token types, and use smart contracts to facilitate trades. As a result of these features, the Uniswap (UNI) Protocol has become one of the most popular protocols for digital trading assets powered by the Ethereum blockchain.

Secure and Decentralized: THORChain (RUNE)

THORChain (RUNE) is a decentralized liquidity network that enables users to swap cryptocurrencies in a trustless manner. The network is powered by a network of THORNodes, which are run by institutions and individuals staking RUNE tokens. THORChain (RUNE) aims to provide the same level of liquidity as centralized exchanges while providing greater security and transparency. The network is also designed to be highly scalable, with the ability to support thousands of transactions per second. In addition, THORChain (RUNE) offers several features designed to improve the user experience, including atomic swaps, cross-chain swaps, and a custody-free model. As a result, THORChain (RUNE) provides a compelling alternative to centralized exchanges for those who value decentralization and security.

What To Make Of It

The three coins – GryffinDAO (GDAO), Uniswap (UNI) – THORChain (RUNE) are making waves with their new developments. These innovative platforms increase the crypto market value by maintaining the bull trend. We believe these projects have bright futures and will continue to be strong contributors to the growth of the cryptocurrency industry.

https://fly.gryffindao.com/register

Why Crypto Experts Believe Big Eyes Can Be The Meme Coin of the Future

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What is Big Eyes?

It won’t be wrong to call cryptocurrencies an agent of change in the financial services sector, which for years had been dominated by traditional institutions like banks, brokerage firms, and government entities. By eliminating such third-party interference and offering an enhanced level of data privacy, these blockchain-powered assets have led investors to play a bigger role in the process of wealth generation and take charge of their investments.

At the same time, the evolution of blockchain has paved the way for innovative products like meme coins which tokenize the popularity of social media memes. Over the years, meme coins have also been transforming to have more practical use cases while posting sustained results.

Big Eyes: A Name and Story of Soldiering Through Life

Big Eyes is a meme coin that has been inspired by a cat called ‘Big Eyes’, who wasn’t at all happy with the way the world saw him as cute and meek just because of his big eyes. Over time, he realised that he can cash in on his cuteness and earn millions with meme coins, but before that happened he had to go through his fair share of ups and downs.

He was born in Washington DC and was eventually adopted by a rocket scientist couple who worked at Nasa. He even learned the basics of space engineering from the two. All was fine and dandy until the couple abandoned him when he was just three for a YouTube experiment on dark matter.

Left alone, Big Eyes hitched a ride on a yacht and decided to travel around the world to find his life’s purpose. During his voyages, he had the chance to learn about living on the sea, how important nature is to us, and how one can be at peace with yoga. During a sea storm, Big Eyes was thrown overboard but was saved by a humpback whale who left him on the shores of Japan.

He spent a year in the country learning about the country’s culture and realising that he had a talent for the art of Sushi, and practising Zazen. It was during a meditation session that Big Eyes realised that he didn’t have to hold himself back because of his cuteness. He could also turn it into his strength and he finally came to terms with it.

Big Eyes is currently among the most-talked about meme coins in the cryptocurrency market because of its niche features that are set to accelerate the adoption of blockchain-based decentralised finance (DeFi) solutions. It has been envisaged as a complete utility token with a clear aim to enable people to shift their wealth to the DeFi ecosystem and explore new opportunities for income generation.

The platform’s objective is also in tandem with the way the cryptocurrency cosmos has shaped up, wherein community tokens are being considered as effective tools of wealth generation not just for commercial enterprises, but charitable organisations too. The Big Eyes team has stated that it wants to build on the current blockchain ecosystem to create a self-propagating mechanism that can help more people hop on the DeFi bandwagon via token swapping and trading non-fungible tokens (NFTs).

It has a native token, BIG, that can be used for a host of transactional purposes that include staking, NFT trading, liquidity pool provisioning, earning rewards, and other similar use cases. Interested users will be able to buy the token on presale.

Is Big Eyes a Reliable Project?

The platform comes with a next-generation security mechanism that leverages top-notch technologies to safeguard investors’ interests and offer unparalleled data privacy. In the first stage of its action plan, Big Eyes will be conducting an audit of the token to ensure that there are no security lapses.

The brain behind the platform is an active group of experts that are working day and night to ensure its longevity and that investors get an unmatched user experience. For starters, there is PawZilla or TopCat who lead the team. CatNipper or TechCat handles the technical side of things. HypePurrr or HypeCat manages any issue with the BIG Token. Meanwhile, TenPaws and CatSuit handle the daily operations. The legal affairs are handled by CatsEyes or LawCat.

The Big Eyes team is also working on plans to push its NFT collections to the Top 10 list and ensure that the BIG Token continually rises in value. Also, any profit that the platform earns from NFT events will be first put for a ‘to burn or not to burn’ vote. These NFT events will be organised throughout the year.

The platform also has in place several guidelines that will dictate its donations to charitable organisations. These transactions will be processed via a charity wallet that will be visible to all community members. The team’s mantra behind charitable initiatives is its desire to build a self-sustaining ecosystem where every element thrives and generates wealth. With its charitable donations, the team tries to do its bit for the world.

What Does Big Eyes Offer Investors?

Big Eyes has a community-driven approach and encourages users to participate in its daily operations. With its policy of incentivizing participation, community members will play a crucial role in shaping its growth trajectory and its vision for development.

Community members will be regularly rewarded with BIG Tokens and NFTs. They will also be the first to hear any important news related to the platform. The more the users participate, the more they will be rewarded. Another feature of the platform that gets its brownie points is its dynamic tax structure which would allow users to tweak it and include any fees that have to be paid for services like the auto burn feature, liquidity pool acquisition, and activating the marketing wallet.

Big Eyes plans to leave no stone unturned when it comes to promoting the platform and ramping up its reach. Over time, the meme coin platform will team up with social media influencers while its innovation and liquidity pool acquisition help it make news strides. It will leverage the power of its community’s expertise to spread the word about Big Eyes and its features. The users will also be able to buy official Big Eyes merchandise and contribute to the platform’s fundraising activities.

The purpose to ‘unconfuse DeFi’ has always been at the heart of Big Eyes’ existence and will guide it in the future too. Currently, around 99% of the world cannot take advantage of the opportunities represented by the DeFi ecosystem given their lack of knowledge and the still developing nature of the technology. With features like Big Eyes Swap, in-depth tutorials, how-to guides, and its cutting-edge backend systems, Big Eyes will make it easier and simpler for people to explore the DeFi ecosystem and its potential.

All You Need to Know About BIG Token

As mentioned above, users will be able to purchase the BIG Token on presale. While the token’s total supply is 200,000,000,000 units, 90% of it will be set aside for presale – 70% of the tokens will be sold through public presale and the remaining via exchanges. The other 10% of the token supply is divided equally between marketing activities and charitable donations undertaken by the platform.

While Big Eyes users don’t have to pay any tax on selling or buying tokens, the platform does levy a 10% tax on NFT transactions. The tax proceeds are distributed among token holders (5%), original sellers of NFTs (4%), and the remaining 1% is again set aside for charitable causes.

The token also has an auto-burn feature which keeps the supply of the token scarce. The feature ensures that BIG Tokens are regularly burned so that their supply remains limited and there are no price fluctuations.

https://bigeyes.space/

How To Register an NGO/Incorporated Trustee Association in Nigeria

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Under Nigerian law, there are different corporate structures for different activities, and one such corporate structure is the Incorporated Trustee Association or Company limited by Guarantee which has become even more prominent in light of the Central Bank of Nigeria directive on freezing Bank accounts belonging to unregistered Non-profit /Non-Governmental organizations .

This article will be dealing with the following topics of:-

– When registering Incorporated Trustees or LTD/GTE are necessary.

– The Registration requirements for Incorporated Trustees.

– The legal structure of Incorporated Trustees/ Companies limited by Guarantee.

What is the Regulatory Framework governing Incorporated Trustee Associations and Companies limited by Guarantee in Nigeria?

Incorporated Trustees are under the “Part F” Regulatory jurisdiction of the Corporate Affairs Commission CAC by virtue of the Companies and Allied Matters Act 2020.

When do i need to register an Incorporated Trustee organization or a Company limited by Guarantee?

Registering Incorporated Trustee Organizations or Companies limited by Guarantee is appropriate for the following cases :-

– For groups of people bound by a religious, familial, cultural or national affinity.

– For charitable, sporting, educational, literary, religious or social development purposes.

– When you want to register a Non-Governmental Organization(NGO), a Non-profit organization, a Cultural Association, a Town Union, a landlord/tenant/resident association,a Foundation, a Social club, or a school(this can also be registered as a company limited by shares).

What is the Legal Structure of NGOs/Incorporated Trustee Associations?

For all intents and purposes, Incorporated Trustees have a Legal personality with the following features:- 

– The capacity to own a common seal.

– Juristic personality (they can sue & be sued).

– Perpetual Succession by virtue of being bodies corporate i.e. they outlive their founders.

– They can own assets such as land titles in their names.

What is the difference between an Incorporated Trustee Association and a company limited by Guarantee (LTD/GTE)?

  1. Companies limited by Guarantee are companies with no share capital but guarantors in the form of its owners/founders while Incorporated Trustee Association are Corporate structures nominally embodied in its management group known as Trustees.
  1. Companies of this nature can be for profit or non-profit purposes (social enterprises) unlike Incorporated Trustee Associations that are strictly non-profit organizations.
  1. Guarantors in LTD/GTE companies are liable financially up to the ceilings of their guarantee amounts .
  1. A guarantee is a fixed monetary sum pledge backed(guaranteed) by a guarantor during the formation of a Limited by Guarantee company.
  1. Companies limited by Guarantee are also under much stricter registration and operation regulations than Incorporated Trustee associations as they are subject to the Consent of the Attorney-General of the Federation to be registered.

What are the requirements for setting up an Incorporated Trustee association?

A registration application for an Incorporated Trustee organization apart from filling the Statutory will require the following :-

– the name & letterhead of the association;

– a constitution of the association;

– aims & objectives of the proposed  Incorporated Trustee association;

– address of the association;

– names of the proposed trustees of the association (at least 2 or more);

– the personal residential address of each of the trustees;

– occupations of each of the trustees;

– tenure of each of the trustees, the removal & filling of trustee vacancies;

– a list of the executive members of the association, including the president, auditors, secretary/treasurer etc.

– a copy of the required newspaper advertisement publications for the registration of the association;

– a copy of the minutes of meetings where the trustees were appointed;

– status of secretary (if he is also a trustee).

How long does it take to process an Incorporated Trustee Association registration application

It takes an average of 35 working days to complete and process an Incorporated Trustee Association registration application.

What are the costs associated with setting up an Incorporated Trustee Association/NGO?

This can cost at least 250,000-400,000 Naira (Legal and Advertisement costs included).

Conclusion :- It is hoped from the above write-up that a clear understanding of how Incorporated Trustees are set up has been achieved, although you might need to consult further with your solicitor regarding post-registration operation requirements for NGOs Incorporated Trustee Associations & Ltd/GTE Company registrations which are more extensive.