GMX(GMX)

[PRESS RELEASE – Dubai, United Arab Emirates, February 7th, 2024] In the fast-moving and hostile landscape of decentralized finance (DeFi), it is rare to find a protocol that survives an exploit. That is what Steadefi has done, with an emphasis on holistic security along with a product that allows yieldors to not just chase after […]

Such rewards have been made possible as the platform was the biggest recipient of Arbitrum’s arb (ARB) token grant following a community vote in October.

Arbitrum projects will receive token grants that may help attract new money to the popular blockchain.

The person in question has traded ten times on GMX, having a win rate of 80%.

The world of cryptocurrencies, with its meteoric rises and abrupt falls, is like a high-stakes game of chess. From cryptocurrency trading for beginners to seasoned traders scouting for the best cryptos to buy now, everyone is on the lookout for the next big thing. Amid this bustling ecosystem, altcoins to watch often come into the […]

Version 2 of GMX allows trading of riskier assets at lower fees, with some pools yielding as much as an annualized 47%.

Tortola, British Virgin Islands, July 12th, 2023, ChainwireIn its ongoing journey to reshape the crypto investing landscape, Struct Finance, a DeFi platform that enables investors to engage with tailored interest rate products linked to digital assets, is thrilled to announce the launch of the BTC.B-USDC Vaults.The tranche-based BTC.B-USDC Interest Rate Product was made possible by effectively leveraging Avalanche’s BTC.B (Bridged Bitcoin) for DeFi applications. The new vault beautifully complements Struct Finance’s Genesis USDC Vaults, heralding an exciting era in DeFi yield opportunities. Struct Finance built the new vault on top of GMX's Liquidity Provider Token (GLP) to generate predictable yields for BTC in the form of fixed returns, and USDC in the form of variable returns, while still leveraging a secure asset and minimizing volatility and exposure to other risks.“Our BTC.B-USDC Vaults represent an innovative application of Bitcoin in DeFi. We're taking full advantage of Avalanche's Bridged Bitcoin (BTC.B) to bring about a fresh wave of opportunities in the digital asset space,” said Ersin Dalkali, the Co-founder of Struct Finance.While Bitcoin continues to dominate the market, its inherent lack of a DeFi layer has traditionally made native yield generation quite challenging. Avalanche has unlocked new possibilities for Bitcoin in DeFi with BTC.B (Bridged Bitcoin). Unlike WBTC that relied on centralized bridges, BTC.B is minted via Avalanche Core — a decentralized bridge — and can be trustlessly bridged across networks using the Layer Zero bridge.At present, Bitcoin investments in prominent lending pools yield between 0.2–0.5%. Even the stable swap pools offering wBTC-BTC.B products only manage to deliver returns of about 2%. Struct’s BTC.B-USDC product shatters these limitations, offering significantly higher yields.The purpose of BTC.B is to empower BTC holders to explore DeFi opportunities on the Avalanche blockchain, without the need to acquire secondary tokens or rely on centralized bridges. BTC.B represents BTC coins transferred to the Avalanche blockchain in the form of ERC-20 tokens. With over 6000 BTC bridged and a fully diluted value of $180 million, BTC.B is carving a niche for itself in the crypto arena.The Bitcoin ETF applications by BlackRock, WisdomTree, and Invesco – three of the world’s leading asset managers – are not just a mere submission. It is a signal that the traditional financial realm is ready to embrace Bitcoin on a new level. Recently, the US Securities and Exchange Commission (SEC) gave the green light to a 2X leveraged Bitcoin ETF, sparking an enthusiastic wave of speculation and anticipation for approval of a spot Bitcoin ETF.Delta hedgingAmid the highly volatile crypto industry, Struct Finance’s Interest Rate Products allow anyone to split and repackage the risk of any yield-bearing DeFi assets in different parts to fit their risk profile through an innovative process called “tranching.” Every Interest Rate Product is a single vault split into two portions, or tranches that have different return configurations:A Fixed-return Tranche for conservative investors looking for consistent returnsA Variable-return Tranche for investors with a higher risk appetite seeking superior returnsThe yield from the underlying asset flows into the fixed tranche first to ensure predictable returns. The remainder is then allocated to the variable tranche, which gets enhanced exposure to the underlying yield-bearing asset. Compared to the fixed tranche, the variable tranche might accrue more yield, less yield, or no yield.As part of its BTC.B-USDC Vaults, Struct Finance has implemented a unique approach to managing investment risk: delta hedging. While the fixed tranche takes center stage with its high yield, the variable side of the product offers an additional layer of intriguing complexity and potential.Upon deployment of funds into the vault, the BTC.B in the fixed tranche gets converted into GMX’s GLP token, setting up a position that’s short Bitcoin against GLP and contributing a negative delta. In contrast, the USDC on the variable side is converted into GLP, which inherently carries a positive delta.This innovative delta-hedged product design achieves a fine balance between the positive and negative delta forces. It results in a robust strategy that allows investors to confidently navigate the crypto market’s inherent volatility.This artful interplay of the fixed and variable sides within the vaults opens the doors for investors to tap into the potential of Bitcoin investments like never before. By catering to a diverse range of risk appetites, Struct Finance ensures that both retail and institutional investors can tailor their strategies to maximize their returns, regardless of market conditions.About Struct FinanceStruct Finance is at the forefront of the DeFi revolution, with a vision to transform the design and utility of financial products. It empowers users to design their own financial instruments, harnessing the power of tokenized, yield-bearing positions to unlock a world of diverse investment opportunities. Moreover, its cutting-edge financial products adopt a tranche-based system, smartly distributing yield between different investor classes. This balanced approach guarantees a steady yield for risk-averse investors while also offering the prospect of heightened returns to the more adventurous. Initially available on Avalanche, Struct Finance plans to go multichain in the near future.For more information, visit: Website | Twitter | Discord | TelegramDisclaimer: This release is for informational purposes only and should not be construed as financial promotion.ContactMiguel [email protected]

Struct Finance, an innovative decentralized finance (DeFi) platform facilitating the trading of structured financial instruments, has unveiled its flagship product. Struct has released a customizable interest rate vault that features a groundbreaking “tranching” mechanism. According to an official statement, Struct Finance will incorporate various tokens, tokenized derivatives, vaults, and pools to create customized interest rate products that align with users’ risk preference. The newly launched interest rate products will empower individuals to divide and repackage the risk associated with any yield-bearing DeFi assets into distinct segments. This is undertaken in a process known as tranching. These products consist of a single vault that is split into two tranches, each offering different returns. Choose Your Interest The first tranche Struct has pioneered caters to conservative investors seeking consistent fixed returns, while the second tranche suits those with a higher risk appetite and provides variable returns. The yield generated by the underlying asset is directed to the fixed tranche, ensuring predictable returns. The remaining yield is allocated to the variable tranche, providing it with amplified exposure to the yield-bearing asset. “The lack of fixed-yield returns in crypto has been a deterrent to entry of both larger institutions and smaller players with more conservative risk appetites,” stated Struct. “Considering the Struct Factory allows permissionless tranching of liquidity pools, fixed rate returns may become commonplace enough to tame the wild and volatile returns of web3.” More Structured Products in the Works The tranching mechanism developed by Struct is merely the first in a series of planned products, designed to provide DeFi users with diversified investment opportunities. At the core of these products is the series of interest rate vaults that will power the Struct Finance ecosystem as it develops. Built on top of GMX (GLP), Struct’s vaults tranche an underlying yield-bearing asset into two, creating a product that generates fixed yield, and another with enhanced exposure to the performance of the underlying asset. Currently live on Avalanche’s layer1 network, Struct’s future plans include the release of a native token and the development of additional structured financial products. 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.

Since inception, LEVEL has designed a protocol to serve as a functional alternative to centralized counterparty risk. After half a year of product testing, it’s finally time to expand, and the LEVEL DAO has determined that Arbitrum will be the next ecosystem where Level will be deployed on. LEVEL’s Success Story LEVEL has experienced phenomenal growth. In just the first month, LEVEL witnessed a notable $320 million in volume traded, generating over $400k in fees and bringing in more than 1000 community members. As a testament to the product-market fit they found, it took just 55 days for the ecosystem to hit $1 billion in trading volume, leading to collecting $8.3 million in fees during that time – going from strength to strength with over $20 billion traded in the first half of 2023 alone! Impressively, the most significant daily trading volume was $339 million on April 14, 2023, accounting for around a third of the total volume across Perp DEXs (Delphi Digital). A Quick Look On-Chain Total Volume: $17.4 billion, of which leverage trading volume accounts for $14.5 billion Total Collected Fees: >$22 million Interestingly, these collected fees are distributed to: LLPs (supply-side revenue) = 45% LVL Stakers (protocol revenue) = 10% LGO Stakers (protocol revenue) = 10% DAO Treasury (protocol revenue - redeemable against LGO) = 30% Reserved for Protocol Development (5%) Assets Under Management (AUM): $30 million During this time, LEVEL has established itself as the leading perpetual decentralized exchange (DEX) on BNB Chain, rivaling even the likes of GMX – a significant achievement considering the difference in total value locked (TVL) and market cap. Setting itself apart from competitors, LEVEL wrote its own codebase from scratch and pioneered the tranche system in DeFi. By leveraging its innovative dual tokenomics model (LVL and LGO), which perfectly fits a perpetual DEX platform, LEVEL has created a strong protocol growth flywheel, reflected in the simultaneous growth of platform volume and Treasury assets. This has resulted in achieving close to $10M in treasury liquid assets. Last but not least, LEVEL is taking DeFi on-chain governance to the next level, with more than 19 DAO Proposals submitted. Truly decentralized governance, driving rapid iteration in product and incentive models for a fast-paced marketplace. Why Arbitrum? Even at a glance, Arbitrum looked like the most immediate choice for LEVEL, and this sentiment resonated with the majority of their community. All new possible chains were evaluated according to their: Liquidity User profile Daily active users Daily number of TXs Arbitrum crushes all of these criteria, securing itself as the fourth chain by TVL, thanks to its deep liquidity and a DeFi-native user base. An equally important factor included the sustained growth of unique addresses in the network, even after the ARB Airdrop. Many critics speculated that activity on Arbitrum would sink after the airdrop. Nonetheless, the daily transactions on the network are steadily increasing, averaging around 1m per day — close to ATH if one does not take into account the days of the airdrop. Considering these factors, it is understandable why the DAO voted for Arbitrum, securing 53% of the total votes across 4 options. Arbitrum is the home of DeFi, and a place full of open collaboration. The composable nature of DeFi on Arbitrum offers endless possibilities for new products and partnerships with other protocols. Some remarkable examples include: Yield Aggregators Money Markets Other Derivatives (e.g., hedging, structured products) Furthermore, this Layer 2 protocol is a fantastic fit for LEVEL as it houses a native niche of perp DEX traders who can benefit from the ecosystem’s incentivized program for traders, shrewdly configured to drive protocol and treasury growth. While the expansion to Arbitrum is the project’s main priority, LEVEL is not stopping there. LEVEL will continue to expand in its goal to become a key piece of the wider omnichain infrastructure. Practical Developments Cross-chain infrastructure is being built to cement the marketplace as an omnichain protocol. As part of these developments, LEVEL is migrating the LVL and LGO tokens to the ‘Omnichain Fungible Token’ (OFT) standard. The ultimate goal is to enable the cross-chain aggregation of fees distributed to its stakeholders so that LEVEL users can earn yield anywhere in the ecosystem. The DAO treasury will also be united across the entire ecosystem, meaning LGO redemptions against the treasury will occur on all chains. Following the recently approved proposal, LEVEL is utilizing LayerZero’s technology to bridge 5M LVL to Arbitrum, to bootstrap liquidity and trader activity through auctions and other incentive programs. They have also begun migrating: LVL/USDT Liquidity — to make LVL tokens more accessible to users on Arbitrum, LEVEL migrating the entire LVL/USDT pool (currently ~ $713,214) to Trader Joe Arbitrum ensures that new users trading for the first time will have the liquidity to access LVL tokens. LEVEL Trading Pool Liquidity — enabling access to all trading features, migrating 3,555,192 Senior LLP (currently ~ $4,061,500) from the BNB Chain to seed trading liquidity on Arbitrum (50% of the protocol-owned Senior LLP supply). Future Plans When it comes to future footprints, a key priority for Level Protocol is for the DAO to steer Level’s journey towards exceptional growth. LEVEL also remains committed to delivering an exceptional user experience, ensuring that their customers receive premium service and can trade using a top-notch UX. Further solidifying its position in the DeFi space, LEVEL is actively seeking, discussing, and moving forward with several partnerships with additional Tier-1 projects, enabling them to expand its reach and utility across the industry. LEVEL's success to date was achievable through the tremendous support from its community of users. Expanding to a cross-chain liquidity marketplace, the marketplace will release a first-in-kind utility-based NFT in just 60 days. All of these unique items will be exclusively for LEVEL's community of users, with allocation retroactively determined based on interactions with the protocol on both Arbitrum and BNB Chain. Three categories will correspond to the three main facets of LEVEL: Stock Broker's Vest, Earned through proving yourself as a trader. The life blood of any financial hub, a Trader needs to look the part at his desk. Auctioneer's Hammer –A key group of mechanisms at LEVEL, Auctions serve to widen the reach of the ecosystem as a whole. Embody the power of the Auctioneer with their Hammer. Tattered Farmer's Hat – LEVEL wouldn’t we be anywhere without liquidity. LPs take on risk enabling the entire marketplace to function. It ain’t much, but it’s honest work. LEVEL's vision is to become a leading omnichain trading platform, and their recent expansion to Arbitrum marks the first step towards realizing this goal. Expanding their services into other DeFi sectors is another avenue they are exploring. The goal is to become a multi-chain liquidity aggregator where fragmented liquidity across different ecosystems can be unified in a single pool, allowing users to trade, swap, and borrow seamlessly. LEVEL is excited to embark on this omnichain journey, transforming the way people engage with DeFi and revolutionizing their trading experience. Step into the LEVEL Ecosystem! Trade a range of blue chip assets on LEVEL now! Buy LVL and begin participating in our ecosystem Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

Several key applications will support Arbitrum-based USDC like Aave, Balancer, Camelot, Coinbase, Curve, GMX, Radiant, Trader Joe and Uniswap.

Volumes at Synthetix surpassed it’s nearest DEX competitor, but contracting user activity across decentralized exchanges could be a red flag.

Arbitrum has been experiencing high levels of volatility, after the recent rally lost momentum, and the coin is now trading at a 20% loss on the two weekly. XRP is also down by 20%, this time over the 30 day chart, as the SEC vs XRP case drags on. Tradecurve, a new decentralized trading platform, in the first stage of presale, is out to challenge the big centralized exchanges, offering unparalleled access to financial products in a truly anonymous way. >>BUY TCRV TOKENS NOW<< Arbitrum&rsquo;s airdrop affects ARB&rsquo;s price Arbitrum is yet another layer 2 based on Ethereum, and many are bullish on the blockchain due to its speed and low fee transactions. Stargate finance was the most used DApp on Arbitrum over the last 30 days, overtaking Uniswap, and suggesting that many people are bridging their funds in or out of Arbitrum. Data from Defilama suggests that more money is going into Arbitrum, since the total value locked (TVL) has more than doubled since the start of the year. GMX and Uniswap account for about half of Arbitrum&rsquo;s TVL. Arbitrum recently airdropped ARB tokens to early adopters, and so selling pressure from this may account for the recent volatility, drop in ARB price and also the increase in TVL. SEC vs XRP continues their seemingly never ending war About a month ago, XRP&rsquo;s lawyers were feeling confident that the SEC v XRP case would soon be wrapped up and settled in Ripple&rsquo;s favor, due to findings leaked from the case. The crypto community echoed the bullish sentiment and new people bought into the coin. While presumably most, if not all, of the crypto world would like to see XRP win this case, it should be remembered that SEC have never lost yet. Perhaps in a wish to maintain that record, the SEC seem to be deliberately delaying the XRP case, and so far costing Ripple over $200 million in legal fees. Several crypto lawyers have publicly criticized the SEC for their contradictory statements on what does and does not count as a security, but only time will tell if XRP can come out victorious. Tradecurve is on a mission to become the biggest and broadest decentralized trading platform Tradecurve describe themselves as a &ldquo;Hybrid exchange where you can trade multiple asset classes all from one account.&rdquo; According to their whitepaper, customers will be able to trade US and European equity CFDs, forex, indices, commodities, options, ETFs, bonds and of course, crypto. Although some CEX&rsquo;s and traditional trading platforms allow this, Tradecurve is the first decentralized solution to offer all these products. This is important because it allows for anonymity and access regardless of who you are or where you live, and KYC is not required. Tradecurve have many exciting features planned, such as AI algorithmic trading, copy trading (where people can pay a subscription fee to traders with a good success rate), and access to high leverage. This is all possible due to the blockchain and using crypto deposits as collateral. The Tradecurve team are aware that not everyone in the crypto space knows how to trade efficiently, and so they plan to have a metaverse trading academy, where people can meet and learn strategies from experts. TCRV is the native token and is currently for sale at $0.01. They aim to raise $20 million in the presale in order to be able to challenge the likes of Binance and Kraken. TCRV is predicted to do a 50x in the presale and another 100x when it is listed on a tier 1 CEX. Given that Binance&rsquo;s BNB ICO began at $0.11, and BNB, at time of writing, trades for $309, the growth potential of TCRV is massive. For more information about $TCRV presale tokens: Website: https://tradecurve.io/ Buy presale: https://app.tradecurve.io/sign-up Twitter: https://twitter.com/Tradecurveapp Telegram: https://t.me/tradecurve_official Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

Across the Web3 space, investors and traders are consistently on the lookout for projects that can provide them with a lot of value. With the decrease in value of well-established projects, such as Dash (DASH) and GMX (GMX), it has become clear to many that the true value can be found in projects that are undergoing their presale stage. One of the most notable presale-stage projects to grab the attention of investors and traders is currently Yachtify, and today, we will go over why it has captured so much attention. Dash (DASH) Dips in Value by 20.7% The Dash (DASH) project made waves across social media when the team discussed how its partnership with NOWPayments can benefit investors and traders. Additionally, they also went over their partnership with HitBTC. Based on this, it is clear that the Dash (DASH) ecosystem has been growing. When we go over the value of the ​​Dash (DASH) cryptocurrency, however, on May 3, 2023, it traded at $47.37. Within the last 30 days, Dash (DASH) saw a decrease in its value by 17.1%. In the last two weeks alone, Dash (DASH) saw an additional decrease in its value by 20.7%, and this has left investors worried about its future. >>>> BUY YACHTIFY TOKENS <<< GMX (GMX) Sees a Decrease of 23.7% Despite Updates GMX (GMX) published a Tweet on May 3, 2023, where they went over how the network collected $3,783,115.98 within the last seven days in the weekly rewards. Additionally, the GMX (GMX) team also published updates in the referral page UI for GMX V2 and added the option to claim rewards for affiliates alongside adding the subgraph for V2 referral stats. When we go over the value of the GMX (GMX) cryptocurrency, however, on May 3, 2023, the cryptocurrency had a value of $67.95. Within the last 30 days, GMX (GMX) saw a decrease in its value by 8.8%. In the last two weeks, the value of GMX (GMX) decreased by 23.7%. Yachtify (YCHT) To Change The Way People Earn The Yachtify platform will enable a new way through which users can earn by gaining access to fractional private yacht ownership that can provide them with a unique opportunity. Specifically, through the usage of the native YCHT token, investors can buy fractional non-fungible tokens (NFTs). The underlying yachts are insured and stored in ports across the globe. Every NFT, as a result, enables investors to earn/ FOr example, if an investor has 25% ownership over a specific boat, they can earn 25% of the income generated from it getting rented, aside from the trading fees that occurred. At the level one presale stage, the YCHT token trades at a value of just $0.10. Analysts predict a high level of growth for this altcoin, especially since it has already been audited by the InterFiNetwork. Find out more about the presale: Website: https://yachtify.market/ Presale: https://buy.yachtify.market/login Twitter: https://twitter.com/yachtify_market Telegram: https://t.me/yachtify Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

Frax Share (FRX) and GMX (GMX) offer investors little chance at a price swing, as the tokens are expected to continue their downtrends. This has heightened interest in the Sparklo presale, which offers uptrend price movement. Sparklo (SPRK): What is all the Fuss? The fuss around Sparklo stems from its unique fundamentals, which involve investing […]

Cryptocurrencies have been a huge point of appeal for many investors and traders due to their volatility. Some of the most knowledgeable investors within the Web3 space will also opt-in towards diversifying with presale stage projects as they have historically provided solid returns. While some of the most well-known projects, such as Flow (FLOW) and […]

In the constantly shifting landscape of cryptocurrencies, Bitcoin has managed to maintain its dominant position. Despite the recent market correction from its 2023 high of nearly $31,000 in mid-April, Bitcoin’s impressive 66% gain since the beginning of the year remains a testament to its resilience. Amidst the ever-changing dynamics of the crypto world, a new […]

Venture capital firms have begun making exit targets for 2024, expecting another big bull run. Smaller investors should be doing the same thing and making price targets when they will realize profits. Two tokens, Avalanche (AVAX) and Uwerx have enormous upside potential between now and 2024. Analysts have given price predictions and reasons for backing the AVAX and WERX coins. Avalanche (AVAX) Price Prediction Avalanche (AVAX) is one of the few alternative layer ones that continues to be popular with investors. Avalanche (AVAX) launched in 2020 and since has grown into a DeFi hotspot. Avalanche (AVAX) delivers sub-one-second finality and allows for massive scaling thanks to its subnet technology. Avalanche (AVAX) trades at $17.50, and analysts from priceprediction.net have given a price prediction range of $35.79 and $43.21 for the Avalanche (AVAX) coin. Why are analysts backing Avalanche (AVAX)? Avalanche (AVAX) hosts one of the most popular perpetuals DEXs, GMX (GMX), and many expect institutional adoption of Avalanche (AVAX) in 2024. Freelance Industry Growth To understand the potential of Uwerx, investors must first understand the sheer volume of the freelancing marketplace industry and the rapid growth in this sector. According to Forbes, more than 30% of business leaders reported using new talent platforms extensively, while another 30% reported medium usage. And analysts predict that both figures will be up next year when the survey is retaken. Freelancing has become a core part of the jobs market and witnessed the most significant growth of any market trend. Uwerx will exist in this rapidly developing space, making the upside potential enormous. A disruptor in a growing segment- a killer combination for growth prospects. Uwerx & Disruption Uwerx aims to disrupt the freelance marketplace by introducing a streamlined and technologically superior alternative to the current market incumbents. Uwerx will drastically reduce fees, protect intellectual property rights, and help foster the growth of freelancers. Uwerx will employ transparent smart contracts instead of lengthy escrow services, releasing funds to workers immediately once pre-agreed conditions have been met instead of weeks later. Uwerx will leverage the immutable quality of distributed ledger technology to eradicate instances of fraud and build a more trusted platform. SolidProof and InterFi Network have already audited the protocol, and analysts have given price predictions for the WERX coin ranging between $2.89 and $3.27 in Q1 2024. A significant move up from the WERX&rsquo;s tokens presale price of $0.00995. Presale Open Now Uwerx has opened its presale, and with a 25-year liquidity lock coming into effect when the presale closes, leading analysts to point to the long-term strength of the protocol and the vision of the founding team. They are backing both Avalanche (AVAX) and Uwerx, but off the record, many believe the growth potential of Uwerx massively outshines that of Avalanche (AVAX). Recently, the Uwerx Vault was introduced to enable holders to earn Investors who want to participate in the freelancing revolution can join the presale by following the links below to benefit from a 20% purchase bonus.Find Out More Here: Presale: invest.uwerx.network Telegram: https://t.me/uwerx_network Twitter: https://twitter.com/uwerx_network Website: https://www.uwerx.network Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

Ethereum scaling solution Arbitrum has started the distribution of 113 million ARB tokens to decentralized autonomous organizations (DAOs) within its ecosystem. Arbitrum has already airdropped ARB tokens worth $120 million. ARB Token Distribution Begins Arbitrum announced the news on their Twitter handle, stating that the test transaction conducted earlier in the week was successful. &ldquo;The full distribution of the DAO airdrop will take place today with those that have confirmed receiving the test transaction that was sent earlier last week.&rdquo; According to data from leading Ethereum analytics firms such as Arkham, Nansen, and LookOnChain, Arbitrum has already transferred 100 million ARB tokens to the addresses of protocols eligible for the airdrop. Arbitrum has allocated an initial amount of 113 ARB tokens to 125 eligible DAOs. This is worth around $148 million at current prices. According to data from Spotonchain, around 90 million ARB tokens, worth around $120 million at current valuation, have already been distributed. Eligible DAOs There are 125 decentralized autonomous organizations (DAOs) that are eligible to receive the ARB token airdrop. The leading recipients of the airdrop include protocols such as SushiSwap, Uniswap, Dopex, Balancer, Radiant, GMX, and Treasure DAO. Among these, Treasure DAO and GMX are set to receive the highest allocation, getting around 8 million ARB tokens, respectively. Meanwhile, other protocols in the list, such as Uniswap, Curve, Balancer, SushiSwap, and Dopex, will receive between 3 million and 5 million ARB tokens. &ldquo;The DAO Distribution of the Arbitrum airdrop occurred last night. Around $120M of $ARB was sent to Arbitrum protocols - although not all projects have received their allocation yet.&rdquo; Apart from the projects mentioned above, another 118 protocols in the Arbitrum ecosystem will receive the ARB token airdrop. According to the Arbitrum team, the distribution of the ARB token will be completed by the end of the week. Fueling Ecosystem Growth After receiving the airdrop, DAOs will have complete autonomy when it comes to determining how to distribute and utilize their ARB token airdrop. Protocols can reward users retroactively or incentivize usage and liquidity by introducing new ARB incentives. The Arbitrum team explained in a blog post that the primary goal of the airdrop toward DAO treasuries was the localization of community governance. &ldquo;The ultimate goal is the localization of community governance. Each protocol knows its community best, and it will be up to the respective DAOs to determine how to distribute governance within their community. It is our hope and intention that by distributing tokens to Arbitrum DAOs, governance power will ultimately be shared with a broader variety of users than just those eligible for the user airdrop.&rdquo; Several protocols have committed to using the funds to fuel ecosystem growth. PlutusDAO has intended to strengthen the protocol using the additional funds. Andrew Kang, the co-founder of Mechanism Capital, stated that the additional funds added into the Arbitrum ecosystem could help significantly boost liquidity across DeFi projects in the Arbitrum ecosystem. Optimism has also launched similar programs to improve the usage and liquidity of its ecosystem. Smaller Protocols To Benefit The Most According to on-chain data analyst The Data Nerd, protocols that have smaller market capitalizations would benefit the most from the ARB incentives. According to the analyst, smaller ecosystems and protocols such as PlutusDAO, Vesta Finance, and Yin Finance would end up receiving incentives significantly greater than their current market cap, helping boost their ecosystem growth. 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.

A Chainlink exec said the oracles will improve GMX’s security by providing a more “strong degree of tamper-resistance when settling user trades.”

Arbitrum-based decentralized exchange GMX will connect its platform to Chainlink's low-latency pricing oracles following a unanimous governance vote.

As the world of crypto continues to evolve, investors are faced with increasing options when selecting which protocols to invest in. Investors need to pick top protocols for top-tier returns. Avalanche (AVAX), Tron (TRX), and Uwerx all offer unique advantages and have the potential to provide investors with market-leading returns in 2023. Avalanche (AVAX)Avalanche (AVAX) is one of the original alternative Layer-1 blockchains. Avalanche (AVAX) launched in 2020 and quickly established itself as a competitor to Ethereum (ETH). Avalanche (AVAX) provides a unique solution to scalability through its subnets which allow the creation of limitless blockchains all housed within the Avalanche (AVAX) ecosystem. Analysts expect businesses and private enterprises to utilize Avalanche (AVAX) subnets, which will drive increased demand for the Avalanche (AVAX) token in 2023. Popular DeFi trading protocol GMX (GMX) deployed on Avalanche (AVAX) and Arbitrum, choosing only chains with the fastest transaction finality showing the high-grade performance of Avalanche (AVAX).Tron (TRX)Tron (TRX) is another layer one blockchain, and Tron (TRX) has massively outgrown its original use case. Tron (TRX) intended to connect content creators and consumers without the middleman. But Tron&rsquo;s (TRX) designated proof of stake consensus mechanism makes Tron (TRX) one of the fastest and cheapest blockchains in the space. As a result, users, particularly in developing nations, adopted Tron (TRX) and used Tron (TRX) to access stablecoins pegged to the dollar, allowing them to preserve their wealth and avoid inflation. Tron (TRX) has proven a lifeline to millions globally, and analysts expect the Tron (TRX) adoption curve to continue in 2023. Uwerx (WERX)Uwerx represents a hidden crypto gem and offers investors a tantalizing opportunity for growth and disruption within the freelancing economy. Uwerx will launch a decentralized platform for the gig economy, the first of its kind, and will disrupt the entire modus operandi currently employed by traditional and conservative freelance marketplaces. Uwerx will leverage smart contracts that will release funds immediately after the pre-agreed conditions are reached. Removing the need for lengthy and expensive escrow services; Uwerx delivers this saving directly to platform users, reducing service fees down to just 1%. Uwerx employs the natural immutability of blockchain technology to provide a superior service that will be more secure and faster, allowing for more natural connections between freelancers and employers. Audited by InterFi Network and SolidProof and with a 25-year liquidity lock after prelaunch, Uwerx signals a long-term commitment to growth and development. Analysts predict that Uwerx could easily become a blue chip in 2023 and experience an enormous rally, with the WERX token appreciating more than 6,300% by the end of the year. The Best Of The Best: Uwerx (WERX) Presale Experts in the field have consistently pointed to Uwerx's technological edge over the incumbents and Uwerx&rsquo;s possibility to absorb market share at an astounding rate. Uwerx&rsquo;s growth potential is undeniable&mdash;it is tied to the high growth freelance industry, which has seen stability in the greatest volatility and adversity global markets have ever seen. We recommend you get in on the presale action whilst you can to enjoy a 25% purchase bonus and a chance to win $5,000. Find Out More Here: Presale: invest.uwerx.network Telegram: https://t.me/uwerx_network Twitter: https://twitter.com/uwerx_network Website: https://www.uwerx.network/ Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

A cascade of liquidations sent bitcoin and the crypto market lower on Wednesday. A sudden cascade of liquidations All appeared calm on Wednesday at around 9 am BST, then without warning (no big news was in the markets) a liquidation cascade began on bitcoin. The selling picked up steam, and within 30 minutes the price had dropped from $30,082 to around $29,000, a more than 3.5% move to the downside. According to Coinglass $236 million was wiped out for the day. Is retail back in the crypto market? It might appear that retail had finally taken an interest in the crypto market, and had seen bitcoin rising strongly and taking the altcoins higher. Longs vastly outnumbered the shorts as the leverage was being piled on with gay abandon. The whales must have been licking their lips at the sight. Therefore the trap was laid and sprung, trapping many and liquidating all the retail leverage traders who had recently entered the market on the expectation of an upside explosion. These liquidation events are starting to become periodic, as the last big one happened in early March, and the one before that in early February. As if they had a presage of what was about to occur, the DefiMoon Twitter account tweeted on how badly skewed were the longs to shorts for Ethereum on GMX. I'm very bullish as $ETH fundamentals look solid across the board, but this $GMX OI long-short skew is a little ridiculous. Seems everyone & their cat is long on max leverage.... pic.twitter.com/zzY2DvK59f &mdash; DefiMoon

The crypto space continually presents investors with opportunities due to the pace of development. Investors who understand the narrative flows can always find projects before periods of expansion, and Uwerx, Fantom (FTM), and GMX (GMX) are three projects that will outperform the market due to their unique value propositions. Uwerx (WERX)Uwerx will launch the world&rsquo;s first decentralized gig economy platform based on the Polygon (MATIC) network. This project has excited analysts, and freelancers alike, given the current state of the freelance intermediary market. Despite freelancing and remote work representing the most significant growth area within the job market, traditional platforms have continued to drag their feet when it comes to changing their business models.Upwork made more than $373 million in platform fees in 2020, charging, on average, 20% to freelancers. Uwerxdisintermediates and replaces centralized choke points with immutable and open records. As well as drastically reducing platform fees to 1%, Uwerx will boast better record-keeping and provide a more trusted and secure service. Senior analysts expect millions of freelancers globally to adopt Uwerx by the end of 2023. Several analysts have called for more than 8,000% price gains for the WERX token, hinting that they believe it will become a blue chip project. Fantom (FTM)Fantom (FTM) is a highly scalable layer one blockchain. Fantom (FTM) regained renewed interest from two pieces of news. Fantom (FTM) released its financials showing a thirty-year runway, and Andre Cronje rejoined the Fantom (FTM) team. Fantom (FTM) specializes in DeFi, and a greater risk appetite from investors means money flows into DeFi, which means Fantom (FTM) accrues value. Fantom (FTM) has returned to its roots and focused on DAppdevelopment, leading analysts to predict that Fantom (FTM) will perform excellently in 2023. GMX (GMX)GMX (GMX) has been a breakthrough DeFi project. GMX (GMX) is deployed on Avalanche (AVAX) and Arbitrum, and the protocol offers leveraged perpetual futures contracts to traders. GMX (GMX) offers the trading experience of a centralized exchange, but GMX (GMX) allows users to retain full custody of their assets while trading. GMX (GMX) has continuously generated large platform fees, showing how popular GMX (GMX) is with traders, and the switch away from centralized exchanges in favor of decentralized exchanges has provided a great macro tailwind for GMX (GMX) to grow. With the recent Arbitrum airdrop, many expect the popularity of the chain to grow, and in turn this should have a positive impact on the price of GMX. Uwerx (WERX) To Become A Blue Chip Project? Investors should never underestimate how rapidly disruptors can grow through displacement. Uwerx has a twenty-five-year liquidity lock in place post-launch, a highly capable team, and a truly unique offering to the fastest-growing area of employment. The project has already received two audit approvals by InterFiNetwork and Solidproof. We believe its growth throughout 2023 will shock the entire space and it is definitely worth having a look at, especially as it is so early and the room for growth is significant.Find Out More Here: Presale: invest.uwerx.network Telegram: https://t.me/uwerx_network Twitter: https://twitter.com/uwerx_network Website: https://www.uwerx.network/ Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

Decentralized derivatives platforms GMX and dYdX battle for the top DEXspot with each planning significant improvements for this year.