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Cryptocurrencies/Coins/MagnaCoin (MGN)
MagnaCoin price, market cap on Coin360 heatmap


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46 days agocryptodaily
Jito Labs Raises $10M from Multicoin Capital and Framework Ventures to Build Performant MEV Infrastructure For Solana
Austin, TX, United States, 11th August, 2022, Chainwire Jito Labs, an MEV infrastructure company building performant systems to scale Solana, has completed a $10M Series A. The round was led by Multicoin Capital and Framework Ventures with participation from Alameda Research, Solana Ventures, Delphi Digital, MGNR, Robot Ventures, and 18decimal. Notable angels Anatoly Yakovenko, Brian Long, Armani Ferrante, Austin Federa, Edgar Pavlovsky, and Nitesh Nath also participated. The Series A brings the company's total financing to $12.1M. Jito Labs will use the capital for recruitment and product development and to support the first third-party validator client for Solana, Jito-Solana. This is expected to open source later this month pending the completion of a Neodyme audit. Jito Labs is developing a suite of trading and validator tools that make MEV more democratic and accessible to traders and validators on the Solana network. Jito-Solana helps node operators earn more revenue and better utilize their hardware. It also features the first native spam-mitigation system for Solana, which helps improve network reliability. Jito-Solana also interfaces with Jito’s Block Engine, a proprietary system designed to build the most profitable and efficient blocks for the network. “Solana is built by the most talented team in the space, but trading bots spamming transactions has resulted in a degraded experience for users and traders. The tooling we’re building at Jito will help Solana scale to support millions of users,” said Lucas, co-founder of Jito Labs. “We are backed by some of the most strategic investors in the Solana ecosystem and are thankful for their support, and the warm welcome from the Solana community.” “Jito is a very capable, super technical team that is putting their efforts into optimizing a Solana validator client for MEV, which is a critical use-case for the long-term health of the network," said Anatoly Yakovenko, CEO, Solana Labs. In addition to validator software, Jito Labs develops tools for traders that are symbiotic with its infrastructure. Jito Bundles, which are similar to Flashbot Bundles on Ethereum, represent groups of transactions that are bundled together and executed in the order they are submitted by traders. Bundles improve liquidity, trading execution and network stability by circumventing expensive priority fee auctions and guaranteeing sequential, all-or-nothing execution. Applications on Solana can leverage Jito’s Bundles to improve the UX around sending multiple transactions. Jito Labs also makes two additional trading tools: a priority mempool, which enables traders to see transactions at the speed they arrive on the network, and ShredStream, which provides low-latency access to shreds from leaders running the Jito-Solana client. Collectively, these tools give searchers and traders the ability to capture arbitrage opportunities and execute trades more efficiently without degrading network performance. “Jito Labs is one of the most important companies in the Solana ecosystem. They are building critical infrastructure that improves network performance and decentralization while maximizing profits for validators around the world. Jito-Solana is a competitive advantage for validators, and an important decentralization milestone for the network,” said Tushar Jain, Managing Partner, Multicoin Capital. Validators that run Jito-Solana are eligible to earn tips from searchers and traders using Jito Bundles to submit transactions to the network. They can also access MEV insights through the Jito MEV Dashboard. About Jito Labs Jito Labs is an MEV infrastructure company that is building high-performance systems to scale Solana and maximize validator rewards. Jito-Solana, the first fully open-source, third-party validator client developed for the Solana blockchain, is a better way to earn more revenue and utilize hardware. Jito Labs’s trading tools are free for use by traders and validators. Learn more: Labs [email protected]
188 days agocryptodaily
DeFiance Founder Loses Rare Azukis In Hot Wallet Attack; Is This North Korean Hacker Group Responsible?
The attack targeted DeFiance founder Arthur Cheong’s hot wallet, from where the hacker stole several NFTs, wrapped Ether and other tokens, cumulating in losses worth $1.6 million. Not Even Seasoned Vets Are Safe It looks like crypto hackers are getting braver and greedier day by day, constantly testing the waters of how much higher they can hit. The latest high-profile target of such an attack is DeFiance Capital founder Arthur Cheong, who lost millions of dollars worth of assets in a hot wallet attack. News of the hack spread like wildfire on Twitter and caused a stir among the community, with several individuals expressing their shock over such a high-profile target. Self-custody of crypto-assets and their security have always been a hot topic due to the growing number of cyber-criminals aiming higher and higher on the crypto ladder. Assets Stolen The hackers mainly targeted Arthur’s NFT collection, with over 78 different NFTs being stolen from five collections, mainly “Azukis.” Other assets from his portfolio that were targeted and stolen include 68 wrapped Ethers (wETH), 4,349 staked DYDX (stkDYDX), and 1,578 LooksRare (LOOKS) tokens. Once the hackers gained control of the assets, they were almost immediately put up for sale on the OpenSea marketplace. The hacker’s wallet had accumulated around 545 ETH, worth around $1.6 million. Cheong’s Twitter Thread Gives Context Cheong himself expressed his frustration, tweeting, “Ok it's a private key/seed phrase compromise since this little s–t is still transferring some token out” He followed it up soon with further tweets commenting that he would not depend on hot wallets to store his assets anymore. A hot wallet is always connected to the network and is not as safe as a hardware wallet, also known as a cold wallet, since it is not connected to the network. However, Arthur believes that the root of the breach lies either in a compromised private key for a hardware wallet or a security breach that happened during an onchain transaction. He tweeted that he had mostly stuck to using a hardware wallet on his PC till he started trading NFTs more regularly. He has followed up his comments by tweeting that he believed the hackers to be from the notorious Lazarus Group, which is a North Korean hacker group that was accused of stealing $1.3 billion worth of crypto. “Have strong evidence to believe this is the same group of hackers that exploited BZX, Hugh, MGNR and myself. The infamous Lazarus group.” Arthur has also addressed the hackers directly, claiming that they have messed with the wrong person. 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 agocryptodaily
Ardana, Cardano’s DeFi and Stablecoin Hub, Participates in Two Successful Funding Rounds 
A busy time for Ardana, a unique all-in-one stablecoin ecosystem that set to launch on Cardano, after it successfully raised $1.5 million over two successful public sales. Ardana is something of an exception in a realm where new apps and protocols are popping up all the time. That’s because it merges the best of decentralization, including security, anonymity and speed, while drawing from the benefits of the stablecoins. With Ardana, users can place their holdings in its secure vault system, from here they can mint the dUSD stablecoin through trustless collateral assets like ADA, deriving exceptional returns. They can also store their holdings in Ardana’s vaults which promise solid returns even in bear markets as its assets are pegged against the USD for stability. Plus, it takes advantage of the security, scalability and speed of the Cardano blockchain. Users can also use DanaSwap, Ardana’s DEX which is an automated market maker (AMM) exchange for stable multi-asset pools. The DEX ensures swaps with limited slippage, which give users access to low-risk high yield opportunities for those providing liquidity. DANA Sale on OccamRazer The IDO, which took place earlier this month on OccamRazer has brought the ecosystem a wealth of funds, which can help it build Cardano’s leading hub for DeFi and Stablecoins. It will also be used to propel its user base forward, and help it develop the products further. The first of two inclusive public sales of DANA, Ardana’s native token, which is a governance token that gives holders voting rights, saw it being sold at $0.60, with a maximum allocation of $500 per address, thus successfully raising $1.5 million. This round follows in the footsteps of earlier private fundraising round, which saw the Cardano based ecosystem raise over $10 million from names like cFund, Three Arrows Capital, Ascentive Assets, DeFi Capital, Morningstar Ventures, Mechanism Capital, Kronos Research, and MGNR. The CEO and founder of Ardana, Ryan Matovu, was effusive in praise of OccamRazer’s involvement in the funding round,"We are pleased by the success of our recent public fundraising round with Occam. Occam surely is the leading launchpad on Cardano and we look forward to further success working with them as we move closer to our token launch in the coming weeks." 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 MagnaCoin

The live price of MagnaCoin (MGN) today is ? USD, and with the current circulating supply of MagnaCoin at ? MGN, its market capitalization stands at ? USD. In the last 24 hours MGN price has moved ? USD or 0.00% while 5.6918 USD worth of MGN has been traded on various exchanges. The current valuation of MGN puts it at #0 in cryptocurrency rankings based on market capitalization.

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

MagnaCoin Price? USD
Market Rank#0
Market Cap? USD
24h Volume? USD
Circulating Supply? MGN
Max Supply30,000,000 MGN
Yesterday's Market Cap? USD
Yesterday's Open / Close? USD / ? USD
Yesterday's High / Low? USD / ? USD
Yesterday's Change
Yesterday's Volume5.6918 USD
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