Perpetual Protocol(PERP)

The Gemini crypto exchange is working on launching an international crypto derivatives exchange to fill the hole left in the derivatives market by the FTX ecosystem collapse. Gemini To Offer Risky Perpetual Futures Gemini, the brainchild of the Winklevoss twins, could be the next big derivatives service provider. According to reports from sources close to the matter, the crypto exchange has been reaching out to trading firms to serve as market makers to launch an overseas derivatives exchange. It is interesting to note that the platform will be specifically offering perpetual futures. This type of derivative does not have an expiry date and thus can be traded with significant leverage. Therefore, it is considered a highly risky product and banned for retail trading in the United States. Will SEC Disapprove? It will be interesting to note how the operation pans out, as the company has already been in hot water with the U.S. Securities and Exchange Commission (SEC) for allegedly selling unregistered securities. The SEC is not going to be too happy about the company’s perpetual futures offering. Even though the matter would be outside its jurisdiction, it could irk the regulatory body enough to make matters difficult for Gemini. In January 2023, the company had to lay off 10% of its workforce after being caught up in the Genesis bankruptcy. Regulatory Trouble For Derivatives Providers Furthermore, other regulatory bodies are also toughening up on crypto firms, especially those offering crypto derivatives services. For example, the Commodity Futures Trading Commission (CFTC) has recently sued the Binance crypto exchange on charges of violating U.S. derivatives law. Binance Australia also had to shut down the crypto derivatives accounts of some wholesale investors who did not fit the criteria. (The exchange does not allow retail investors to participate in crypto derivatives trading on its platform.) Gemini’s Bid For Overseas With FTX gone and now Binance embroiled in legal troubles, there is a significant market share up for grabs in international derivatives trading. In fact, even Coinbase had indicated plans to grab a chunk of this market share by launching an overseas platform to offer perpetual futures derivatives. However, as the crypto trading platform is likely going to face enforcement action from the SEC, as indicated by the Wells notice, Gemini could beat Coinbase to the overseas derivatives race. As one of the co-founders of Gemini, Cameron Winklevoss believes that the next bull run would come from Asia, the company’s international expansion makes even more sense. 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.

Singapore, Singapore, 30th March, 2023, ChainwireCore is a novel layer one blockchain that is pushing the boundaries within the crypto space. Inspired by Bitcoin and Ethereum, Core progresses beyond those blockchain behemoths by synthesizing each of their superpowers. A student of blockchain history, philosophy, and innovation, Core optimally balances decentralization, security, and scalability.Without Core’s advancements, crypto has been plagued by the “Blockchain Trilemma,” which states that decentralization, security, and scalability can never be achieved simultaneously. Tackling the Trilemma head-on, Core DAO contributors have designed a unique consensus mechanism known as Satoshi Plus, which marries the decentralization and security of Bitcoin’s Proof of Work (PoW) with the scalability of Delegated Proof of Stake (DPoS).With Satoshi Plus consensus, both Bitcoin miners and CORE token holders can participate in network security by delegating their BTC hash power and staked CORE to a decentralized set of validators. With Bitcoin’s decentralization and DPoS’ scalability, validators on Core can securely and quickly produce blocks and validate transactions. Given this ingenious synthesis of blockchain principles, Core DAO contributors must now be considered thought leaders in blockchain innovation.Continuing to leverage the best features of all blockchains, Core is also EVM-compatible, allowing for the easy implementation of smart contract applications from Ethereum-based chains. The choice of EVM-compatibility, like other Core design choices, results from years of research into the trade-offs of other chains. This student-like approach allows Core to embody the essence of blockchain philosophy centered on decentralization and freedom.Inspired by philosophy and innovation, Core’s massive and enthusiastic community constitutes over 1.7 million followers on Twitter and over 239,000 members on Discord. Carrying over to on-chain activity, the recent CORE token airdrop was received by over 1.2 million participants, making it one of the largest smart contract interactions of all time. Looking forward, Core’s recent integrations with top-tier projects like Layer Zero are sure to lead unparalleled ecosystem development as more projects continue to see the Core opportunity.With leading builders, a growing community, and a groundbreaking consensus mechanism, Core is rising to revolutionize the blockchain space.About CoreDAOCoreDAO is a new independent blockchain powered by Satoshi Plus, an innovative consensus mechanism that directly leverages the Bitcoin mining hash rate and the Ethereum Virtual Machine (EVM) to power an optimally decentralized, secure, and scalable web3. Core DAO’s genesis and inspiration come from Bitcoin and Ethereum, but its ambition travels beyond those blockchain titans.ContactPR in chargeAntonio WuMEXC [email protected]

Hydra Ventures DAO, a decentralized autonomous organization (DAO) backed by prominent investors like 1kx, ConsenSys, and Seed Club, is poised to disrupt the world of fund-of-funds investing with an innovative model tailored for the crypto industry.The brainchild of pseudonymous venture investor Pet3rpan, a partner at venture firm 1kx, Hydra Ventures has raised $10 million to create a DAO that will support other investment DAOs. "I think the cool thing about Hydra is that for the first time ever we have builders operating a fund of funds. Just ironic because most people who operate fund of funds come from an institutional capital background and I think this is the first science experiment where we see very active direct ecosystem participants operate fund of funds in a very crypto native way," Pet3rpan shares. DAOs are blockchain-based organizations without a central authority, employing blockchain technology for governance. According to data from DeepDAO, there are over 40 investment DAOs in existence. Pet3rpan was involved in the creation of one of the first investment DAOs, MetaCartel Ventures, which has 75 members and has invested over $13 million into more than 70 projects, including Gitcoin and Gnosis Safe. Pet3rpan initially considered the rapid deployment pace of investment DAOs as a drawback. However, he now sees it as an advantage, noting that "investment DAOs are really amazing vehicles for indexing exposure across a certain ecosystem or market focus." Hydra Ventures aims to invest in 30 to 40 DAOs, targeting up to 10% of the investment DAO itself. The core team of Hydra Ventures includes members from 1kx, MetaCartel Ventures, and Thing3. These members bring valuable experience in navigating the challenges of tax, accounting, and legal aspects of DAO operations. Hydra Ventures will integrate Thing3, an operations-focused service DAO, to address these issues. Stephen McKeon, managing partner at Collab+Currency, praised the Hydra Ventures DAO team, stating, "The venture DAO space is nascent and constantly evolving — so, to us, Hydra is well positioned to pioneer the DAO fund of funds model." Hydra Ventures is particularly interested in backing DAOs with a strong investment thesis. Pet3rpan believes that those who are passionate about a specific market domain or space have a considerable advantage in investing, deal flow, and due diligence. This conviction forms the core thesis for Hydra. Hydra Ventures started raising funds in June last year and closed the round in January. The funds will be stored in a diversified set of stablecoins, with plans to deploy the funds over three years instead of in perpetuity, like MetaCartel Ventures.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.

Bitget, the world's largest crypto copy trading platform, has taken a groundbreaking step towards greater transparency in centralized exchanges by partnering with Space and Time. The move will provide unparalleled exchange operations transparency. More Exchange Transparency is Required As the first centralized exchange to leverage a decentralized data warehouse, Bitget offers its users verifiable evidence that the exchange holds the assets it claims to own on behalf of its clients. Moreover, users will have full transparency about the exchange's activity, liquidity, assets, and liabilities with the assurance that the data and computation powering the exchange is accurate and haven't been tampered with. Even though most centralized crypto exchanges publish proofs to assure users that their assets exist, the accounting of financial operations is conducted in opaque, black-box systems. With Space and Time's technology, Bitget will provide proof of accounting and assure its users that all exchange operations are both valid and verifiable. Gracy Chen, Managing Director of Bitget, said, "More than ever, users want to see transparency from exchanges. Bitget is first to work toward transparency of proof of accounting and operations through Space and Time." Space and Time Breaks Ground Space and Time is the first decentralized data warehouse that joins tamperproof on-chain and off-chain data, providing a verifiable and transparent financial economy. The company has developed a novel cryptography called Proof of SQL that cryptographically proves that query computations were done accurately and that both the query and the data are tamperproof. Nate Holiday, CEO and Co-Founder of Web3 data warehouse Space and Time, said, "This partnership marks a new era of transparency for centralized businesses." Bitget will leverage the Space and Time data warehouse to run verifiable computations against verifiable on-chain and off-chain data, strengthening the trust it has built with its growing user base as it continues to expand its product offerings to become a one-stop investment solution. 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.