– Insurance companies can help DeFi’s adoption and popularity by offering DeFi cover that protects assets from hacks and programming errors.
-68% of DeFi insurance claims have been filed and paid since June 2020, following the loss of the peg for Terra Luna’s algorithmic stablecoin.
– DeFi cover products operate on the same fundamental tenets as conventional insurance, allowing policyholders to pay a premium and receive a payout when they make a claim.
The DeFi industry has exploded in the past year, with the total assets in the DeFi ecosystem reaching over $47 billion. With this rapid growth has come the need to protect users and their assets from potential hacks and programming errors. Insurance companies are now stepping in to help DeFi’s adoption and popularity by offering DeFi cover.
DeFi cover, also known as blockchain-related insurance, operates on the same fundamental tenets as traditional insurance. Policyholders pay a premium and are paid out if and when they make a claim for an insured occurrence. These products differ from typical insurance in that they are tailored to blockchain-related issues.
An example of this was the loss of the peg for Terra Luna’s algorithmic stablecoin, TerraUSD, in June 2020, which resulted in a $40 billion loss. The consequences of this event rippled through the industry for the remainder of the year, and some would argue they are still being felt today. As a result, tens of millions of dollars worth of DeFi insurance claims were made in order to recover losses.
Fortunately, since June, about 68% of the claims have been filed and paid. This shows that the businesses selling DeFi cover are confident in their abilities and are likely to maintain their success. It is reassuring to know that users are being protected and that the DeFi ecosystem is becoming more secure.
Overall, insurance companies are essential in helping DeFi’s adoption and popularity. By offering DeFi cover, policyholders can pay a premium to receive a payout if and when they make a claim for an insured occurrence. This is a great way to ensure users are protected from potential losses and to help keep the DeFi ecosystem secure.
• Three Arrows Capital, the crypto hedge fund that collapsed in 2022, is making a comeback with a new cryptocurrency exchange called GTX.
• The new exchange is being led by 3AC co-founders Su Zhu and Kyle Davies, as well as CoinFlex co-founders Mark Lamb and Sudhu Arumugam.
• GTX plans to fill the gap left by FTX, allowing depositors to transfer their FTX claims to the GTX exchange and get credit using a token known as USDG.
The crypto community is abuzz with the news that the founders of the collapsed crypto hedge fund Three Arrows Capital (3AC) are already making plans to raise $25 million for a new cryptocurrency exchange known as GTX. 3AC, which was one of the largest crypto hedge funds in the industry, faced a major collapse in 2022, leading many to question the future of the crypto industry, and whether another similar failure could happen again.
The new exchange is being led by 3AC’s co-founders Su Zhu and Kyle Davies, as well as CoinFlex co-founders Mark Lamb and Sudhu Arumugam. The GTX executive team comprises several executives from CoinFlex, including the chief technology officer and the general counsel. CoinFlex is an exchange that is also in the process of restructuring. GTX will use the technology provided by CoinFlex to create the exchange. The exchange’s legal team will also oversee the recent claims triggered by multiple bankruptcies, including that of firms like Celsius and Voyager.
According to a report by The Block, the exchange will fill the gap that FTX has left behind. The pitch deck says that the exchange will allow depositors to transfer their FTX claims to the GTX exchange and get credit using a token known as USDG. The exchange is planning to launch as early as February, and the crypto community is already abuzz with the news.
3AC’s collapse was one of the biggest failures in the crypto industry in 2022, but the news of their return is a sign of hope that the crypto industry can survive and rebuild from such disasters. The fact that the founders have already made plans to launch a new exchange shows that they are determined to make a comeback and continue to make a difference in the industry.
As the crypto industry continues to grow and evolve, 3AC’s return could be a major milestone for the industry as a whole. With the launch of GTX, the co-founders are looking to show the world that they can still make an impact and help build the future of the crypto industry.
• Zilliqa (ZIL) has been making impressive gains in the crypto market, with its price rising 10.93%, 24.15%, and 18.67% over the past several days.
• Technical analysis shows that the cryptocurrency is currently in oversold territory with the RSI at 80.44, the 20 day, 50 day, and 100 day EMAs in an ascending order, and the MACD line breaking out from the zero line.
• ZIL’s current bullish momentum could potentially continue into the future, allowing traders to capitalize on the gains.
The cryptocurrency market has seen a significant amount of activity over the past several days, with many coins making strong gains. One such cryptocurrency that has been making impressive progress is Zilliqa (ZIL), which has seen its price rising steadily over the past few days.
The past six daily candles for ZIL have all been green, resulting in an impressive 10.93% increase in value. This was followed by a 24.15% surge which saw the price breaking out from the 20-day and 50-day EMAs. Currently, the price is continuing to climb with a further 18.67% jump thus far.
Technical analysis shows that the cryptocurrency is currently in a strong bullish position. The RSI is currently oversold at 80.44, indicating that the price may soon undergo a retracement and consolidation before moving up further. The 20 day, 50 day, and 100 day EMAs are also arranged in an ascending order, which further reinforces the bullish sentiment. Furthermore, the MACD line is also in a bullish crossover position and is gradually increasing in value.
With the technical indicators pointing to a continued bullish momentum, traders may be able to capitalize on the gains and further increase their portfolios. However, it is important to note that the market is volatile and any sudden shifts in the market could significantly affect the prices. Therefore, it is important for traders to keep an eye on the market and be prepared for any sudden changes.
• Japan is set to lift its ban on the domestic distribution of dollar-backed stablecoins that are issued overseas.
• The Financial Services Agency (FSA) of Japan is making plans to come out with a draft system and guidelines for the circulation of stablecoins.
• When the revised Payment Services Act goes into effect in 2023, it will be applied in tandem with the guidelines to ensure that distributors and issuers create a safe transaction environment.
Japan is planning to lift its ban on the domestic distribution of dollar-backed stablecoins that are issued overseas. This news has been welcomed by the crypto world as it will open up new avenues of investment and trading.
The Financial Services Agency (FSA) of Japan officially made an announcement on December 26, 2022, that it would come out with a draft system and guidelines for the circulation of stablecoins that are linked to currencies such as the U.S. dollar. The aim of the guidelines would be to ensure that distributors and issuers create a safe transaction environment.
The lifting of the ban is in response to the fall of Terra/Luna in May 2022, and the subsequent scrutiny of stablecoins by various countries. Distributors will be authorized to manage stablecoins that are issued abroad as long as they keep sufficient assets. It is expected that this move will help to make the crypto world more secure and trusted, as well as helping to increase the number of users.
When the revised Payment Services Act goes into effect in 2023, it will be applied in tandem with the guidelines. This will help to ensure that stablecoins are used in an orderly and safe manner. In addition, the authorities are also planning to introduce new rules and regulations that will provide more clarity and security when it comes to the use of stablecoins.
The lifting of the ban on stablecoins is expected to have a positive impact on the crypto world. It will make it easier for people to trade and invest in cryptocurrencies and stablecoins. In addition, it will also help to increase the confidence of investors in the crypto space. This in turn could lead to more people joining the crypto world, which could result in further growth in the industry.
Overall, the lifting of the ban on stablecoins is a positive step forward for the industry. It will make the crypto world more secure, trusted and accessible. This could help to stimulate the growth of the crypto industry and make it more attractive to investors.
• IMPT is a carbon removal platform powered by blockchain technology, with the goal of reducing the amount of greenhouse gases and lessening the impact of climate change.
• IMPT token is traded in for a certain amount of carbon credits, with a value of $0.018 during the IMPT token sale.
• IMPT is partnered with thousands of the world’s largest retail brands, each of which contributes a predetermined amount of their profit margin to environmental initiatives.
IMPT is a revolutionary carbon removal platform powered by blockchain technology, aimed at reducing the amount of greenhouse gases and lessening the impact of climate change. The IMPT token is the currency used in this platform and it is traded in for a certain amount of carbon credits. The initial value of one IMPT token during the IMPT token sale was set at $0.018.
The IMPT platform is connected with hundreds of environmentally significant projects all over the world, with the common goal of lowering carbon emissions and improving the state of our planet. This platform is also partnered with thousands of the world’s largest retail brands, each of which contributes a predetermined amount of their profit margin to environmental initiatives. This money is then stored in the users‘ accounts in the form of IMPT tokens as they are accumulated.
The users can accumulate these tokens until such time as they have reached the required quantity of the carbon credit of their choosing. This also enables users to carry on with their typical shopping while simultaneously contributing to the fight against climate change.
IMPT is a great platform for those who want to contribute to the fight against climate change. Not only does it offer the opportunity to purchase carbon credits, but it also supports the world’s largest retail brands in the process. With its growing popularity, IMPT is sure to make a huge impact in the eco-friendly crypto sector and help us in our battle against global warming.