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0.00000693 BTC
Market Cap (Rank#188)
6,925 BTC
Vol 24h
245.276 BTC
Circulating Supply
Max Supply
9 days agocryptodaily
How the Octopus Network is Driving the Internet into a more Open, Fair, and Secure Era
You don't hear about the earnest blockchain protocols because they’re busy building solutions It would be easy to forget that blockchain technology is more than the growing pains of DeFi, considering the plethora of disquieting news coming out of the crypto space recently. But it's important to remember that blockchain is a tool, a tool that can be used to solve a swash of contemporary issues. And, like all tools, its use is defined by human intent — You can use rocks to bash in someone's head or build functional civic structures. Web3 has the potential to hand data sovereignty and content ownership back to internet users. So, where are the protocols committed to creating solutions with blockchain tools? They are out there, building. And that is probably why you don't hear much about them in the headlines, which tend to favor catastrophe over progress. Earnest blockchain protocols are driven by ideology rather than speculation Serious blockchain technicians are often driven by ideology rather than speculation — the intent is embedded in the building. This is why they tend to survive severe crypto market downturns. Solid projects with a mission of driving towards a fairer internet also generally have foundations that help scaffold and fund web3 development because they know that only mass adoption can complete the transformation from User-as-Product to User-as-Owner. Imagine all the business conducted across all of the niches on the Internet today. Until Web3 solutions are accessible for at least a majority of these verticals, Web3 will remain an elusive target. Presently, at least three significant barriers to developing Web3 must be addressed and solved by the blockchain industry itself for mass adoption to become feasible. The blockchain industry must eradicate its own barriers Startup cost is one of the most formidable barriers to realizing a broader selection of viable Web3 solutions. Building an application-specific blockchain is both capital and labor-intensive. In addition, blockchain development requires blockchain developers. Unfortunately, there is a shortage of developers fluent in novel programming languages such as Rust. Finally, it takes more than technology to launch a successful Web3 project. Founders need to be familiar with critical concepts in tokenomics, product design, UX, community building, governance, and more to successfully launch a Web3 project. These three bottlenecks to Web3 development are precisely what the Octopus Network was designed to disrupt. The Octopus Network lowers the barrier to Web3 adoption To accelerate adoption, the Octopus Network's primary mission is to lower the barrier to Web3 innovation. This is not only apparent in its support of the application-specific blockchains that choose to launch on its platform but also in its open and free Global Substrate Training and Accelerator Programs funded by the Octopus Foundation. The Octopus Network is a multichain, interoperable cryptonetwork for launching and running Substrate-based, EVM compatible, application-specific blockchains, aka appchains. The design of the Octopus Network's security leasing mechanism lowers the cost of launching a Substrate-based blockchain by an estimated factor of 100X. Web3 teams who wish to develop their concept using Substrate will find an incredible support base in the Octopus Development Team and Core Community— in addition to enjoying appchain customizability, infrastructure support, crosschain interoperability, and unlimited scalability. The Octopus Global Substrate Developer Training program increases Web3 resources A few years ago, Octopus Network launched the first Substrate Developer Training courses in China, which are now operated by Parity. Since then, Octopus has been on a mission to spread its courses globally, with current offerings in Vietnam, Malaysia, India, Nigeria, and Mexico. Substrate is an open-source tech stack, built using Rust programming language and created by Parity, that simplifies building a blockchain customized for a specific application. The full stack of an appchain, including networking, consensus protocol, node configuration, etc., can be thoroughly optimized for its particular use case. An appchain enjoys its transaction processing capacity exclusively without competing for gas price with other applications, ensuring lower transaction costs and faster response times for its users. And a Substrate appchain has self-sovereignty —it’s governed by its community. There are already hundreds of Web3 projects built on Substrate, and more appchain projects are expected to emerge. The Octopus Accelerator awards Web3 entrepreneurs The Octopus Accelerator Program is a global Web3 startup community of entrepreneurs launched by Octopus Network and funded by the Octopus Foundation to help Web3 entrepreneurs bring utility to Web3 by realizing their concepts as appchain testnets. The Accelerator program conducts four open Global Web3 Entrepreneurship Camps providing $1 million in funding to 20 outstanding Web3 application chain entrepreneurial teams annually. Each quarterly course awards a total of 250k in funding to its top five projects. Mentored by industry experts while engaging in course workshops, participants study critical topics such as Product Design, Token Engineering, Regulation, Fundraising, and more. The month-long program concludes with a Showcase Day, allowing the top 10 teams to demo their project in a competition to win one of five Octopus Star Prizes and 50k in funding. Accelerator Program courses are free and open to any Web3 founder, team, or developer interested in developing their project from concept to testnet. The Fall 2022 Accelerator program offering 50k in funding to five top projects currently accepts applicants until its August 13th deadline. The Octopus Network sets the stage for Web3 innovation Octopus Network's unique Leased Proof of Stake security coupled with Substrate makes building a Web3 application much more accessible and affordable for the world's problem solvers, thereby setting the stage for Web3 innovation. Any Substrate-based blockchain can register to become an Octopus Network appchain. Any Web3 project can apply to the Accelerator to learn how to build a Substrate appchain testnet and win funding, and any developer can gain exposure to Rust programming language and the Substrate framework through Global Substrate Training courses—all compliments of Octopus Network. While DeFi growing pains may stir up one-sided skepticism toward blockchain technology as a whole, the other side of the equation, those seeking solutions, just keep building. The Octopus Network was conceptualized, designed, and realized because of the underlying philosophical tenets of its core team, which is committed to driving the Internet into a more open, fair, and secure era, aka Web3. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
11 days agocryptopotato
Low-Income Investors Sold Most Crypto Holdings During the Market Crash (Survey)
Civic Science found out that 54% of the digital asset investors weathered the storm and did not cash out their crypto holdings.
97 days agocryptodaily
California Starts State-Sanctioned Crypto Journey
California’s governor Gavin Newsom has signed an executive order that will kickstart the official crypto industry in the state. Gov. Newsom Signs Executive Order The executive order has initiated the process of setting up a regulatory framework for blockchain technologies and digital assets in the state of California. According to the order, state authorities will also be drafting regulations to guide the crypto industry in tandem with federal agencies. In addition, officials will also be looking into incorporating blockchain tech into government operations in California, which is a global hub of tech innovations. Other than collecting feedback from crucial stakeholders to structure the regulatory framework and studying and incorporating blockchain tech in state and public institutions, the state will also open up channels for research and development programs in blockchain and crypto. Following the signing, Governor Gavin Newsom released a statement that said, "California is a global hub of innovation, and we’re setting up the state for success with this emerging technology – spurring responsible innovation, protecting consumers and leveraging this technology for the public good. Too often government lags behind technological advancements, so we're getting ahead of the curve on this, laying the foundation to allow for consumers and business to thrive.” Initial Steps Taken In 2020 The executive order is built on a July 2020 report by the California Blockchain Working Group that examined the uses, risks, and benefits of blockchain technology. In addition, the California Consumer Financial Protection Law, which was passed back in 2020, will be a key driving force in ensuring that the regulatory framework maintains a “transparent and consistent business environment” for companies in the blockchain and crypto fields. 2020 was also the year that Governor Newsom restructured the Department of Business Oversight into the new Department of Financial Protection and Innovation to extend its oversight to the growing crypto industry. This department will address consumer complaints, work with crypto companies to resolve consumer complaints, take enforcement action when needed, and also work on spreading crypto education, especially regarding scams and frauds. Texas In Action Although California will be the first US state to explore the regulatory aspect of the industry officially, Texas has been so far leading the charge in blockchain and crypto adoption. Mayor Steve Adler of Austin, Texas, has always maintained a very pro-crypto voice by proposing blockchain adoption and BTC payments for civic bills across the city. As a result, the Austin City Council has also passed two resolutions related to crypto assets and blockchain technology. More recently, the small city of Fort Worth in Texas became the first US city to mine Bitcoin after three mining machines were donated to the city by the Texas Blockchain Council. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
105 days agocryptodaily
Meet Fort Worth – The First US City To Mine Bitcoin
Fort Worth, Texas, has become the first US city to mine Bitcoin after three mining machines were donated to the city by the Texas Blockchain Council. Fort Worth Starts BTC Mining The Bitcoin mining program was unanimously approved by the city councilors of Fort Worth on Tuesday. Under the pilot program, the city partnered up with the Texas Blockchain Council, which donated the S9 mining rigs, and Luxor Technologies, a mining pool that maximizes the mining profitability of small-scale miners. Fort Worth Mayor Mattie Parker commented on this monumental initiative, “This is bigger than cryptocurrency. We’re starting a conversation across the globe about what cities need to do to be innovative and focus on technology and innovation. We think we’re doing that. The big picture here is, what is the future of our economy? We know that crypto-currency is a big piece of this.” Energy Concerns Addressed For Now The mining rigs, running around the clock, raised some concerns about energy sustainability. Bitcoin mining operations are highly energy-intensive processes. And Texas’s electrical grid has always had trouble with over energy consumption. However, the city has claimed that each machine would consume roughly the same energy as a household vacuum cleaner. Additionally, even though the rigs might not bring in a lot of funds, the cost of energy needed to power the mines is expected to be covered by the value of bitcoin mining. The program will be revisited in six months to consider the impact of these operations. Texas’s Crypto Saga Texas has always been a crypto-friendly jurisdiction. Several leading Texan lawmakers and politicians have propositioned and initiated projects incorporating crypto and blockchain tech into the city’s functioning. Back in 2021, when China banned crypto operations, a small Texan town called Rockdale volunteered to provide a safe shelter for crypto miners fleeing China. The state’s capital Austin has also made a mark on the crypto landscape of the country. The city has recently passed two resolutions related to crypto assets and blockchain technology. Austin’s Mayor Steve Adler has also expressed his wish to establish the city as a crypto hub, starting with exploring BTC payments for civic bills. On a state level, Texas GOP representative and US Senator Ted Cruz has expressed his support for the growing crypto industry in the state. Plus, Texas Governor Greg Abbott has reached out to BTC miners to stabilize the state’s shaky electrical grid. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
149 days agocryptodaily
Austin Mayor Becomes Latest US Mayor To Embrace Crypto
Mayor Steve Adler of Austin, Texas, shows a very pro-crypto stance by adopting blockchain technology and crypto payments through his latest proposed initiatives. Austin Mayor Proposes Blockchain Adoption The Mayor’s directions to the City Manager of Austin indicate that he is embracing the benefits of blockchain technology to establish Austin as a crypto hub for the near future. The directions include proposals for two initiatives. The first one is aimed at promoting equity, diversity, accessibility, and inclusion in the technological ecosystem. The City Manager has been advised to explore how the city can leverage Web3 and blockchain to improve supply chain management, art, media, fundraising, KYC, and more. The Mayor stated, “The City Manager is directed to ensure the City is helping to create an environment within city government and in the community generally that supports the creation and development of new technologies, including without limitation blockchain and other Web3 related technologies, protocols, and applications.” Proposed: BTC Payments For Civic Bills As the second proposed initiative, the Mayor has ordered the conduction of a fact-finding study to explore the adoption of Bitcoin (BTC) into the city's functioning. The mission will also look into several cryptocurrency-related policies. Mayor intends to explore crypto payment pathways to provide Austin residents with alternative payment channels for utility and civic bills. This will mean that Austin residents would be able to pay their municipal taxes, bills, fees, and penalties in Bitcoin or any other chosen cryptocurrency. Adding to this effect, Mayor Adler tweeted, “Austin is excited to support the businesses and innovations that will turn the promises of Web3, cryptocurrency, and blockchain technology into reality.” Both the proposals are up for vote by the City Council, which has been considering adopting blockchain technologies since 2020. An earlier proposal was explored which sought to use smart contract technology for the MyPass identity verification protocol. Therefore, there is an indication that the council could pass the proposals when they vote on March 24. US Mayors Embracing Crypto And Blockchain Austin is the latest US city to join the crypto fire that has been blazing through the country. Multiple other Mayors have also embraced the technology by incorporating and integrating in various urban functions. For example, the most noteworthy of these is Miami’s Mayor Francis Suarez. Not only did he accept his entire paycheck in BTC, thus normalizing the crypto to a great level, but he also initiated the launch of the MiamiCoin (MIA), the native crypto for the city of Miami, which generated revenue of $10 million in two months. NYC Mayor Eric Adams has also followed Mayor Suarez’s footsteps by accepting his first three paychecks in crypto (mainly BTC and ETH). Furthermore, during his campaign, he had promised to increase crypto awareness and acceptance by revising school curriculums and business payment modes to educate students and inspire businesses. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
153 days agocryptodaily
HUMAN Protocol Is Bringing Jobs To Your Doorstep With Its HUMAN App
Unemployment has been an age-long issue facing human beings. According to the United Nations, about 220 million people are expected to remain unemployed in 2021. These people probably have families and people depending on them. To tackle the menace of unemployment successfully, there is a need for innovation. HUMAN Protocol is a leading blockchain-based company offering solutions to the problem of unemployment via its newly built HUMAN App. Overview of the HUMAN App? The HUMAN App is a blockchain-powered, permissionless application that revolutionizes the conventional labor market. It is an innovative creation and a comprehensive permissionless application that connects people to opportunities to earn, from any application and using any device. The HUMAN Protocol acts as the virtual gateway for users to gain access to the application. Although it commenced with data-labeling tasks, it is being built to accommodate more jobs in the future and rewards workers based on the value of the task completed within the network. Currently, anyone can solve the CAPTCHAs themselves without external aid. HUMAN App's beta phase witnessed more than two hundred thousand registered users. These registered community members have been automatically migrated to the App upon its launch. HUMAN delivers real-time utility to the members of the ecosystem via its HUMAN App. The first type of task available on the HUMAN App is “data labeling.” However, more functions with a broader range of requirements have been added since the launch. HUMAN Protocol connects workers to enjoy good rewards from their services and promotes an inclusive workplace. HUMAN Protocol Features • It is programmed and safe • The App enables distributed workforce • It operates across numerous chains • Provides tasks for different job markets at scale • Supports a novel group of ML and Artificial Intelligence How It Functions HUMAN Protocol allows users or workers to get a reward after successfully finishing tasks. Users earn HUMAN tokens ($HMT) for executing tasks within the HUMAN Protocol. From the point of registration, users are rewarded with one HMT, and they continue to gain more upon every completed job. Every individual who desires to earn must connect to or create a KYC-verified crypto wallet to receive the HUMAN token and validate their identity. Other Things You Should Know Presently, the HUMAN App is deployed on both the Polygon and Ethereum blockchain systems. However, the team is currently working on supporting other top chains in the future. Users can process withdrawals via the Polygon blockchain network using only their Matic wallet address. You can only make withdrawals if your account is fully verified. To verify your account, you will Use Civic, a designated third-party identification service provider. Once you have done all these, then go ahead and link to your HUMAN App account following the on-screen prompts. Another function of the HUMAN App is that it allows you to decide your job preferences, manage your reputation, and feature your background and qualifications. Conclusion HUMAN Protocol focuses on nurturing its community by rewarding workers at a global scale once they can complete simple tasks. If you are interested in the HUMAN App or want to learn more about it, you can check out more information on their official web page. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
226 days agocryptodaily
World’s Largest Breast Cancer Charity Begins Accepting Crypto Donations
The world’s largest breast cancer charity, Susan G. Komen, has announced that it will begin accepting cryptocurrencies in partnership with The Giving Block, a leading donation solution. The announcement revealed that the charity would accept the world’s largest cryptocurrency, Bitcoin, along with Shiba Inu and Dogecoin. Susan G. Komen has been at the forefront of the war against breast cancer. A Significant Selection Of Cryptocurrencies The crypto charity platform will offer donors a wide variety of options such as Dogecoin (DOGE), Shiba Inu (SHIB), and Dogelon Mars (ELON). It also offers others such as Orchid (OXT), Civic (CVC), and Gala (GALA). The charity utilizes donations to raise awareness, provide education, and fund research into breast cancer. So far, it has invested over $1.1 billion since 1982. Partnership With The Giving Block The Giving Block was founded in 2018 and has already partnered with hundreds of charities. It had also announced a new service that streamlines the process of donating crypto for wealthy donors, making the entire process much simpler. It has also launched 15 new funds that organize non-profit organizations by their common causes, making it simpler for donors to support the charities. Crypto Donations Seeing A Significant Boom Cryptocurrency donations have seen a significant jump as the year draws to a close. 2021 has seen an increase of 583% in digital asset donations compared to donations in 2020 on Crypto Giving Tuesday, an initiative started by The Giving Block. The Giving Block processed over $2.4 million in gifts on Crypto Giving Tuesday, with donations averaging $12,600. Speaking about Crypto Giving Tuesday, Co-Founder of The Giving Block, Pat Duffy, stated, “That day has inspired hundreds of conversations with high-net-worth donors, companies, and projects that want to make gifts.”’ Other Charities See Similar Growth In Donations Several other charitable organizations have also reported a significant spike in crypto donations, with Tony Oommen, Vice President and charitable planning consultant of Fidelity Charitable, reporting a five-fold increase in donations from 2020 to 2021. He attributed the spike in donations to the unprecedented growth of some crypto assets, citing Bitcoin as an example. The Tax Angle Taxes are not considered to be the prime motivation for donations and gifts. Still, it is worth noting that cryptocurrency could be subject to capital gains tax if it is sold for a profit. The amount of time an individual holds the cryptocurrency also affects the taxation rates. If an individual holds cryptocurrencies for over a year, then the individual could be subject to long-term capital gains tax ranging from 0%, 15%, or 20%. However, any assets held for a duration shorter than a year are only subject to regular income tax. Donating crypto directly to charitable causes helps individuals avoid capital gains tax. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
275 days agocointelegraph
Civic launches free tool to combat NFT-hungry bots on Solana
Civic’s Ignite Pass aims to combat bots targeting NFT drops on the Solana network by verifying video-based selfies using artificial intelligence.
277 days agocryptopotato
4% of Americans Have Quit Their Jobs After Profiting from Cryptocurrency Investments: Survey
According to Civic Science, some Americans have earned so much from digital asset investments that they have quit their jobs.
278 days agozycrypto
Most Americans Quit Low Paying Jobs After Gaining Crypto Wealth, New Survey
Approximately 6 million people (4% of 167 million in the workforce) in the US have quit their jobs after making more money from cryptocurrency investments than from their low-income jobs, according to a new survey by intelligence firm Civic Science. Civic Science surveyed over 17,000 respondents across the country for a period of seven months starting […]
279 days agocryptodaily
Survey Reveals An Exodus Of Employees From US Job Market Towards Crypto
A recent survey has suggested that more American workers are leaving the job force to pursue crypto investments. Crypto Grants Financial Freedom To 4% The Civic Science survey studied 6,741 US citizens; 4% of them said that they had gained financial freedom after raking in crypto gains that allowed them to quit their jobs in 2021. In addition, 7% of the respondents asserted that they knew someone who had left their job following sizeable ROI from investing in crypto assets in the last year. Billionaire investor and crypto proponent Mark Cuban chipped in on the survey results on his official Twitter handle. He said, “Wow 4% of people in the USA have quit their jobs because of Crypto gains, and the vast majority made under 50k. Now we know why so many people quit low-paying jobs. And this was BEFORE the current runup.” Crypto Pulls Investors From Under Low-Income Line Further, the study also revealed that 27% of those who quit their jobs to pursue crypto gains fell under the $25,000 annual income bracket, while 37% were under the $50,000 a year bracket. Civic Science concluded that this data indicates that crypto investments have brought in life-altering levels of income for those in the poverty bracket. In contrast, wealthier investors have used it to diversify their portfolios and add additional sources of revenue. Long Term Hodling Vs. Short Term Gains 17,699 people were also asked why they chose to invest in crypto. 28% of them went with long-term growth, whereas 23% were in it for quick gains, 11% touted crypto investments as a hedge against inflation, and 12% claimed crypto investments would enable them to gain independence from the government-controlled job market. Those who believe crypto to be a more long-term investment plan belonged to a younger age demographic, while the older generations viewed it as a quick money-making scheme. The study also indicated that crypto investments were similar to holding traditional stock for over half the population. Stock Traders Show High Crypto Affinity Additionally, people who already have some market experience due to stock trading were more likely to invest in crypto. The study revealed that 38% of 2943 stock traders polled have already dabbled in crypto and other digital assets. To sum it up, Civic Science concluded, “Interestingly, these traders appear to have begun to shift the original purpose and function of cryptocurrency as a whole. At its inception, cryptocurrency, and the blockchain technology behind it, was intended to provide a form of digital currency that was independent of government involvement (protecting it from periodic economic collapse) while also remaining safe, secure, and relatively anonymous (which also made it a haven for some criminal financial activity). But in its current function, it has begun to closely resemble a (highly volatile) stock.” Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
318 days agocryptodaily
Crypto Weekly Roundup: PBOC Tightens Crypto Chokehold, Twitter Adds BTC Tips, And More
Bitcoin prices dropped a further 5% after the announcement from the People’s Bank of China. Read more about the notice released by the PBOC and everything else that happened in the crypto industry last week. Bitcoin On Friday, China’s central bank issued a statement banning all crypto-related transactions, further reinforcing its tough stance on cryptocurrency. The “Notice on Further Preventing and Disposing of the Risks of Hype in Virtual Currency Transactions" outlines all the crypto services that are now illegal in China. El Salvador’s President Nayib Bukkele announced on his Twitter that the government has purchased an additional 150 BTC, bringing up their reserve to a total of 700 BTC. DeFi A partnership between decentralized investment protocol Solrise and identity verification platform Civic has led to the creation of an on-chain decentralized exchange on Solana, providing permissioned access based on digital identity for institutional investors. NewsCrypto, an all-in-one crypto suite platform, announced on September 23 that it will be working in collaboration with Polygon to build an interoperable bridge that connects Polygon blockchain to the Stellar ecosystem. Business FTX has announced that it is planning to shift its headquarters from Hong Kong to the Bahamas and has already initiated the process of moving. Mutual funds management company, VanEck has decided to capitalize on the “Solana Summer” craze by seeking to offer Solana exchange-traded fund (ETF) in Germany. Altcoins Shiba Inu reached 900k Twitter followers and a 31.9% boost of over $870 million purchases after successfully obtaining a Coinbase listing. After being held in jail for several weeks by US authorities in connection with a court case in South Africa, Riccardo Spagni, the former Monero lead maintainer, has been released. Technology Social networking platform Twitter has officially shared details of its new feature that would enable users to receive tips from other users through a number of payment options, including crypto. Bhutan’s central bank, the Royal Monetary Authority (RMA), is piloting its central bank digital currency (CBDC) using Ripple’s CBDC Private Ledger to improve financial inclusion among citizens and boost cashless payments. Regulation The state of Kentucky has prohibited crypto lending company Celsius from offering accounts after deeming them risky to customers. Pennsylvania Senator Pat Toomey has urged the US Securities and Exchange for more clarity on crypto while presenting the SEC chairman with a list of over two dozen questions regarding the regulation of cryptocurrencies. NFT After revealing that he was the person behind CozomoMedici, celebrity and NFT collector Snoop Dogg announced that he has partnered with The Sandbox to sell 1000 NFT passes for a private metaverse party. Crypto Daily had the please of interviewing graphic novel legend Frank Miller on the verge of his upcoming NFT launch. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
320 days agocointelegraph
Cross-chain bridge equipped altcoins rally higher despite China’s crypto ban
REN, CELR and CVC ignore the market’s bearish reaction to China’s new crypto ban by posting double-digit gains.
321 day agocryptodaily
Solrise and Civic Launch First Permissioned DEX on Solana
A partnership between decentralized investment protocol Solrise and identity verification platform Civic has led to the creation of an on-chain decentralized exchange (DEX) on Solana, one that provides permissioned access based on digital identity for institutional investors. The new DEX, dubbed Solrise DEX Pro, is built on Serum, an on-chain decentralized exchange leveraging Solana’s high-throughput, low-cost blockchain technology to offer a traditional order book experience. Growing Regulatory Scrutiny The level of regulatory scrutiny has been ramping up in recent months, with defi developer Uniswap Labs among the latest to face investigation from the U.S. Securities and Exchange Commission (SEC), who have launched a probe into the team behind the popular DEX protocol. A permissioned DEX, as envisaged by Solrise and Civic, allows for greater checks and balances within the defi ecosystem, enabling projects to better manage risks and meet KYC and AML requirements while retaining the innovative benefits of decentralized finance for institutional investors. Commenting on the announcement of the partnership, Co-Founder of Solrise Filip Dragoslavic said: “This is our way of bridging the world of institutions to defi without resorting to centralization, thanks to Civic.” “With Solana already being the most familiar defi ecosystem for traditional finance, we expect to become one of the primary hubs for institutions that wish to jump into the ecosystem,” he added. A Playground Suitable for Institutional Players Combined with Civic Pass, Civic’s identity verification product for defi and dApps, Solrise DEX Pro represents a new permissioned defi layer on Solana that is geared towards institutional players who’ve long been locked out of permissionless decentralized finance due to regulatory constraints. The permissionless ethos of defi is an important principle of the industry, though one at odds with institutional investors who would like to participate yet find themselves unable to access the benefits in a compliant manner. With Solrise DEX Pro, the Solrise and Civic development teams have created a parallel ecosystem that provides formerly excluded institutions access to the opportunities within defi. Giving them an opportunity to tap into the rich liquidity of the Solana ecosystem while staying in a familiar and compliant permissioned environment. The new DEX is designed to complement existing defi infrastructure, rather than subtract from or replace it. “A permissioned DEX paves the way for more participants in the defi ecosystem, including institutional investment,” explains Chris Hart, CEO of Civic. “We’re building technology that thoughtfully protects individuals, their digital identities and our new financial systems. In Solrise, we’ve found a partner that shares our values and is working with us to set a higher standard that will ultimately benefit the broader industry.” Solrise DEX Pro will receive support from Alameda Research, a long-time investor in the solana ecosystem. The quantitative trading firm will supply initial liquidity to the DEX and provide ongoing support. How Does It Work? Solrise DEX Pro uses the Civic Pass as a compliance input to determine which participants meet the required standards for verification before enabling their ability to trade. Users are directed to use Civic’s identity verification from within Solrise DEX Pro, which then uses the results from the Civic Pass screening process to allow trading on the DEX. Civic and Solrise are leveraging the protocol to enable the use of each granted Civic Pass. Civic Pass then continues to monitor users for adherence to the rules, meaning dApps can later revoke access following a breach. The DEX is already available for immediate use by qualified investors, which excludes entities in the United States and sanctioned countries. A demo video of the platform has also been made available. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Civic

The live price of Civic (CVC) today is 0.169495 USD, and with the current circulating supply of Civic at 1,000,000,000 CVC, its market capitalization stands at 169,494,926 USD. In the last 24 hours CVC price has moved 0.010406 USD or 0.07% while 3,670,914 USD worth of CVC has been traded on various exchanges. The current valuation of CVC puts it at #188 in cryptocurrency rankings based on market capitalization.

Learn more about the Civic blockchain network and how it works or follow the price of its native cryptocurrency CVC and the broader market with our unique COIN360 cryptocurrency heatmap.

Civic (CVC) is a cryptocurrency token from the Civic blockchain platform which is used as a means of settlement between users in identity-related transactions. CVC coin holders have the opportunity to purchase existing services, i.e. dark web monitoring and searches, services to run personal background checks, peer-to-peer identity services, blockchain notary services and others. Civic coin is based on the ERC20 standard, has a secure transfer mechanism, and a total supply limited to 1,000,000,000 CVC. Find the current price of Civic (CVC), the coin's market cap, graphs and other data on COIN360.

Civic Price0.169495 USD
Market Rank#188
Market Cap169,494,926 USD
24h Volume6,003,309 USD
Circulating Supply1,000,000,000 CVC
Max Supply1,000,000,000 CVC
Yesterday's Market Cap164,847,100 USD
Yesterday's Open / Close0.154441 USD / 0.164847 USD
Yesterday's High / Low0.165292 USD / 0.152024 USD
Yesterday's Change
0.07% ( 0.010406 USD )
Yesterday's Volume3,670,913.80 USD
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