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Rapture(RAP)

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21,000,000
4h agocryptodaily
Orthogonal Trading Gets Default Notice for $36M Debt
Orthogonal Trading has defaulted on eight loans worth around $36 million on DeFi lending protocol Maple Finance. The default has resulted in Maple Finance severing ties with Orthogonal Trading for misrepresenting its financial position. A $36 Million Default It has emerged that crypto firm Orthogonal Trading has defaulted on $36 million worth of loans taken on DeFi lending protocol Maple Finance. The default came after it was revealed that Orthogonal Trading’s funds had become tied up with bankrupt crypto exchange FTX. The default is considered significant, impacting 30% of all active loans on the lending protocol. As a result of the default, Maple Finance has severed all ties with Orthogonal Trading. Orthogonal Trading runs a credit business and a crypto hedge fund. According to the statement released by Maple Finance, it is removing the firm as a borrower on the Maple Finance platform, and also removing Orthogonal Credit as a delegate, and shutting down its lending pools. M11 Credit Issues Default Notice Orthogonal was due to repay a $10 million USDC stablecoin loan from a credit pool managed by M11 Credit. The company was a significant borrower on Maple Finance and also a manager and underwriter of a credit pool on the DeFi protocol. As a result of the default, M11 Credit issued a notice of default to Orthogonal for all of its outstanding loans on Maple’s USDC Stablecoin Pool. The majority of the defaults, amounting to around $31 million, are in the M11 USDC pool, run by M11 Credit. The default notice also covers Orthogonal’s wrapped ether (wETH) loans worth around $5 million. This loan is from another M11 Credit-managed lending facility on Maple. In a blog post, M11 stated that Orthogonal misstated their exposure to FTX. The post added, “We believe that Orthogonal Trading previously purposefully misstated their exposure and has therefore committed a serious breach of the Master Loan Agreement (MLA). Rather than cooperating with us and disclosing their exposure, they attempted to recover losses through further Trading, ultimately losing significant capital.” According to M11 Credit, Orthogonal only informed them on the 3rd of December that it had incurred larger than disclosed losses due to its exposure to FTX and, as a result, would not be able to repay its debt. “We are extremely shocked and disappointed by the actions of Orthogonal Trading. Purposefully misstating information during the numerous contacts we have had over the last weeks severely impacted our ability to manage our outstanding credit risk.” Maple Finance Severs Ties As a result of the default, Maple Finance decided to sever ties with Orthogonal, stating that the company had misrepresented its financial position. In a scathing statement, Maple stated that Orthogonal was “operating while effectively insolvent” and did not communicate to Credit M11 or Maple Finance that it would be unable to service the debt. The statement added, “It is now clear that they [Orthogonal Trading] have been operating while effectively insolvent, and it will not be possible for them to continue operating a trading business without outside investment. Misrepresentation like this is in violation of Maple’s agreements, and all appropriate legal avenues to recover funds will be pursued, including arbitration or litigation as necessary.” According to a Maple Finance spokesperson, the firm expects to recover at least $2.5 million, which will be used to cover the damage from the default. These funds will come from the pool cover and fees accrued by Orthogonal, which are still on the platform. M11 Credit is also considering legal action against Orthogonal, hoping to recover some of the funds. Maple Finance Founder Disappointed By Events Sid Powell, the founder of Maple Finance, revealed that he was shocked and disappointed by the incident. However, he also acknowledged the growing need for more stringent due diligence when it comes to undercollateralized lending. He added that the platform might look to introduce partially collateralized loans moving forward. Powell also assured users that the protocol locks pool funds in separate smart contracts and that the losses were limited only to the impacted pools. Funds in other pools remained safe, Powell stressed. 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
13h agocoindesk
DeFi Risk-Sharing Protocol Nexus Expects Loss on Maple Credit Pool Investment as FTX Contagion Widens
Nexus Mutual, which offers an insurance alternative for decentralized finance traders, deposited some $19 million in ETH to Maple’s wrapped ether credit pool, which was rocked by Orthogonal Trading’s recent default.
23h agocoindesk
Most Influential Artist: Dave Krugman
The photographer captured his portrait of Erick Calderon at a Bright Moments NFT art event in Mexico City.
1 day agocoindesk
The 'Crocodile of Wall Street' and Her Husband Face Trial
Words fail to describe the infamous crypto couple who allegedly laundered $4.5 billion. He’s behind bars and she’s put her raunchy rap videos on hold, but Hollywood is calling. That’s why Heather “Razzlekhan” Morgan and Ilya “Dutch” Lichtenstein share a spot on CoinDesk’s Most Influential 2022.
1 day agocryptopotato
WAHED Projects Donates 5M WAHED Coins to Fund Autism Research and Therapy
[PRESS RELEASE – Cranfield, England, 3rd December 2022] Investment and philanthropy platform WAHED has donated 5 million of its utility token WAHED Coin to Fondazione Europea Alessandro Cenci (FEAC) at a private event in Rome. FEAC is an Italian non-profit organization focused on awareness, education, and research to improve the care given to children and […]
1 day agocointelegraph
How much is Bitcoin worth today?
Bitcoin is always open and the BTC price is constantly changing — find out how to track it and understand more about Bitcoin price action with the Cointelegraph crypto price indexes.
2 days agocryptodaily
DAM Deploys Testnet For Decentralized d20 Omnichain Stablecoin
Web3 banking DAO, DAM Finance (DAM), has successfully rolled out its Moonwalker v1 testnet on Moonbeam’s Moonbase Alpha and Ethereum’s Goerli Testnet. The testnet, now live on both networks, allows users to experiment with DAM’s innovative lock-and-mint solution backed by the omnichain stablecoin d20, DAM’s proprietary dReservoir, and its Linked Multi-Collateral Vault (LMCV). Users can now first-hand experience minting d20 stablecoins on one chain and seamlessly “teleporting” them onto another chain, and vice-versa, with the Moonwalker v1 testnet. Upon completion of the testnet phase, DAM will introduce its mainnet, unlocking support for a broader range of assets. Interested users can access the Moonwalker v1 testnet by connecting their Metamask wallets. Once connected, users should add Moonbase Alpha and Goerli Testnet as supported networks under their Metamask accounts. After adding support for the testnets to their accounts, participating testers can acquire Moonbase Alpha’s native DEV token and Goerli Testnet’s Goerli ETH token. Users can then swap their Goerli ETH to USDC by accessing the Goerli Uniswap interface and then login to the latest version of the DAM app deployed on Netify. On the DAM app, testnet users can test the functionality of DAM Finance’s protocol by simply swapping their USDC for d20. This enables users to teleport d20 from the Goerli Testnet to Moonbase Alpha, and then teleport it back to Goerli Testnet, before finally burning the d20 to release an equivalent amount of USDC. The DAM team has also urged participants to provide feedback and share their experiences about their product's overall user experience and interface, which they will implement in future updates before the mainnet is live for public use. Overcoming Cross-Chain Liquidity Problems Unlike other centralized stablecoins, DAM Finance’s d20 is designed as a portfolio-backed omnichain stablecoin, meaning users can mint d20 on any EVM-compatible chain with existing assets at a 1:1 ratio, move them to another independent chain, as well as move them back to the originating chain to swap them for other assets. The distinctive selling point of DAM Finance is its function that enables borrowers to mint d20 stablecoins from baskets of tokens that are deposited all at once in a single transaction. In contrast to the "wrapped token" feature currently available via cross-chain bridges, DAM's Layer-0 infrastructure makes it possible to easily teleport d20 across chains as a native-level asset through its dReservoir and the Linked Multi-Collateral Vault (LMCV), bridging liquidity between standalone networks. This functionality gives borrowers more leeway in the generation of purchasing power and the management of vaults while making it possible to use a wider variety of blockchain-secured assets as collateral. DAM’s Co-Founder Harrison Comfort explains, “We want to champion innovation by making it easier to securely direct stablecoin liquidity away from Ethereum towards newer networks without the constant vulnerabilities posed by bridges. d20 will help accelerate the adoption flywheel of emerging networks, and this is our first step towards making our omnichain promise a reality.”
2 days agocryptodaily
WAHED Projects Donates 5 Million WAHED Coins to Fund Autism Research and Therapy
Cranfield, England, 3rd December, 2022, ChainwireInvestment and philanthropy platform WAHED has donated 5 million of its utility token WAHED Coin to Fondazione Europea Alessandro Cenci (FEAC) at a private event in Rome. FEAC is an Italian non-profit organization focused on awareness, education and research to improve the care given to children and adolescents on the autism spectrum. In attendance at the Rome event were leadership figures from the WAHED and FEAC organizations. WAHED Chairman Shaikh Abdulla Bin Ahmed Bin Salman AlKhalifa and FEAC President Eros Cenci were joined by prominent members of their teams. Sergio Torromino, former Italian Member of Parliament and current WAHED Board Member Dr. Salvatore Alberto Turiano, staff vascular surgeon at the University Hospital Policlinico-San Marco in Catania, Italy Dr. Luigi Lidonnici, FEAC member and owner of an autism therapy center in Calabria Giuseppe Scuderi from the Scientific and Technological Park of Sicily Following a locked-in vesting period, 5% of the donated WAHED Coin will be released after 1 year. All appreciation in the token value during this time will stand to benefit FEAC, and the limited unlocking will ensure limited volatility in token price. This donation to FEAC aligns with the WAHED vision of supporting companies and organizations that are improving the quality of life around the world. The ease of transacting cryptocurrency globally makes it a perfect vehicle for charitable and philanthropic activities, and sets the stage for a future where everyone can contribute to causes that they believe in. About FEAC Despite rapid advancement in medical technology improving the quality of life all over the world, there is plenty of work still to be done. Questions about the causes, prevention and management of many diseases still remain, and autism, despite affecting millions around the world, is still misunderstood. The FEAC provides researchers and medical professionals with the funds they need to help improve both the lives of individuals on the autism spectrum and their care circles. The first major project in FEAC’s vision is a therapeutic clinic in Calabria in collaboration with the Lidonnici family. The 1200 square-meter space will bring education and awareness of the realities and challenges of daily life faced by individuals with autism. The clinic will also provide access to therapy, providing aid and guidance to ensure quality care when managing the condition. Making expert care available to all who need it is a vital part of the FEAC vision, and the center in Calabria is the first of many. About WAHED WAHED is an investment and philanthropy hub that is powered by WAHED Coin. Serving as the blockchain partner for several ambitious projects around the world, WAHED aims to use technology to scale operations and enrich more lives. Established in the United Kingdom, WAHED is led by Shaikh Abdulla Bin Ahmed Bin Salman AlKhalifa, former Undersecretary to the Ministry of Housing in Bahrain. Bringing decades of experience in industries ranging from oil, banking and commodities, the WAHED founding team has identified the array of advantages that blockchains can bring to traditional systems. WAHED Coin provides access to innovative ideas to retail investors and cryptocurrency enthusiasts from all over the world. WAHED Coin will be available for trading on LBANK exchange from the 5th of December 2022. To learn more about the WAHED Ecosystem, visit the WAHED website. Become part of the global WAHED community on Discord, Facebook, Instagram and Twitter. ContactWahed Projects [email protected]
3 days agocryptodaily
Russia’s Sber Bank Announces Ethereum And MetaMask Integration
Russian banking giant Sber, formerly Sberbank, has announced that it is integrating MetaMask and Ethereum on its proprietary blockchain. The move comes as the Russian administration continues to be under crippling sanctions and will see the lender move into DeFi and Web 3.0. Ethereum And MetaMask Integration Russia’s largest lender, Sber, has announced that it is integrating support for Ethereum and MetaMask on its proprietary blockchain. The announcement was made during the first international meeting of participants in the blockchain industry, which the Sber Blockchain Laboratory organized. Sber had officially announced new opportunities for its proprietary blockchain platform, which included compatibility with smart contracts and applications on the Ethereum Network. The move was designed to allow developers to move smart contracts and even entire projects between Sber’s blockchain and public blockchain networks such as Ethereum. The latest additions also bring integration with the Ethereum-compatible cryptocurrency wallet MetaMask. Users and developers can use the wallet to interact with the Ethereum blockchain. Sber’s integration with MetaMask will enable users to make operations with tokens and smart contracts on Sber’s proprietary blockchain platform. The press release stated, “The blockchain platform will also provide integration interaction with one of the most popular MetaMask wallets, with which users will be able to perform operations with tokens and smart contracts based on the Sber blockchain. Alexander Nam, head of Blockchain Lab, added, “Sber Blockchain Lab works closely with external developers and partner companies, and I am glad that our community will be able to run DeFi applications on Sber’s infrastructure.” He also added that the new features would help Sber to bring in developers, corporations, and financial institutions, helping them explore how blockchain, Web 3.0, and decentralized finance can be applied in businesses. Actively Developing Blockchain Products Sber has been quite active in developing blockchain-related products in the recent past. In 2021, It had applied with the Bank of Russia to launch a blockchain platform to support its stablecoin Sbercoin. The Bank of Russia approved this application, following which Sber announced its first digital currency deal in June 2022. Russia’s stance on crypto and digital assets has seen a considerable change over the past few years. The government had imposed a complete ban on cryptocurrency payments in 2020. However, just last month, Russia’s Ministry of Finance and the Bank of Russia threw their support behind a draft amendment tabled by lawmakers. The amendment proposed the creation of a national crypto exchange in the country. Russian Administration Optimistic About Web 3.0 According to Nam, the rapid development of Web 3.0 will see platforms supporting blockchain protocols becoming increasingly in demand. The Russian lender’s announcement also comes after Russian President Vladimir Putin came out in support of blockchain technology and crypto. The Russian President criticized the monopoly prevailing in global financial systems and expressed confidence that digital currencies and technologies based on them would drive independence from global banks. The President also hinted at developing a new global payment system based on blockchain technology, adding that the new system would be free from “interference by other countries.” This was seen as a reference to the crippling sanctions against Russia by the West after the invasion of Ukraine. Sber was also severely impacted by the sanctions. 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.
3 days agocryptodaily
What is the future for privacy coins?
A leaked EU proposal to restrict privacy enhancing coins could be a serious worry for this crypto niche. With regulators seemingly on the warpath against any form of monetary privacy, things do not look good for privacy projects. TornadoCash is one example of harsh law enforcement whereby a developer for the project has ended up facing jail time just for writing some of the code. Why privacy-enhancing coins? The blockchain is by definition completely public and transparent. Every transaction that is made is stored forever and anybody can see which wallet it is sent from and which wallet received it. However, in spite of the advantages of transparency, these come with the disadvantage that every single transaction made by someone can be transparently viewed - no matter how private or potentially embarrassing it might be. Those viewing your transactions could be anyone, including your boss who knows your salary history to the exact dollar - pretty disadvantageous for your next salary negotiation. Or how about nefarious actors? Fraudsters, thieves and any other criminals would be able to see how much you are worth and if it’s worthwhile kidnapping you in order to extract your private keys to the wallets you own. The long and short of it is that blockchain technology is not going to be used if this means that people’s financial history is made public. Therefore, this is where privacy-enhancing coins come in. There are various ways in which these work. Some utilise mixers that jumble transactions in order to conceal the wallet identities of the senders and receivers. Cryptographic technologies such as zero-knowledge proofs, homomorphic encryption, and multiparty computation are used to obfuscate the data and make it impossible for any third party to unravel. Why the EU would want to ban privacy-enhancing coins Privacy-enhancing technology is extremely complex and it could easily be imagined that regulators just wouldn’t have the technical know-how with which to grasp and fully understand everything, let alone be able to competently lay out regulations that can keep up with such a fast-moving technological space. The EU view will likely be that privacy-enhancing coins will make it far more difficult to uncover their potential use for money laundering and other illegal activities. The leaked EU proposal The part of the leaked draft that is causing some consternation in crypto circles is the following: “Credit institutions, financial institutions, and crypto-asset service providers shall be prohibited from keeping …anonymity-enhancing coins” This is suggesting that centralised exchanges etc. will not be able to list privacy-enhancing coins. The leaked draft also includes that no transaction over 1000 EUR can remain private. KYC would even be required for amounts under 1000 EUR. This would appear to open the door to a complete restriction on user privacy, and would potentially leave their details open to being doxxed. Dusk Network - privacy with full regulatory compliance The goal for Dusk Network is user privacy for transactions while simultaneously remaining compliant with regulations. Dusk highlights that “privacy is an inalienable right, formally enshrined in the Charter of Fundamental Rights here in the EU”. Dusk also posits that in order to comply with EU GDPR rules, all user data stored on the blockchain must have a proper level of privacy built in, which Dusk provides. The Dusk zero-knowledge proof technology builds in compliance at the core level. The protocol is being developed with KYC for DeFi as an absolute requirement, meaning that users remain compliant as they transact. For example, if the user tries to transact, knowingly or unknowingly, with persons in a sanctioned country, the code will not allow the transaction. Dusk Network is well aware that the regulatory environment is constantly shifting, and for that reason it is constantly monitoring the situation. However, it believes that it has the solution to the problem as explained in a Dusk blog post on the matter: “Auditors are able to ensure that what is happening on our network complies to the regulations, in addition to compliance being built in from the core. If you’re not allowed to turn left, there is simply no option to turn left. You don’t need to monitor that people aren’t turning left, as it were. Institutions are able to use our technology without fears of being penalized as we are compliant with the rules, and users are able to have a system that gives them control over their assets, the chance to use them outside of the crypto sandbox, without having to air their dirty laundry for all to see.” Dusk Network is optimistic for a privacy future that includes regulated DeFi. It also holds the belief that traditional finance needs to merge with blockchain and decentralisation in order to bring a better, faster and more innovative system that can adapt to the modern world that we live in. 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.
3 days agocryptopotato
MEXC Global Becomes 1st Exchange to Launch a Zero Maker Fee Event for Futures Orders
[PRESS RELEASE – Please Read Disclaimer] In September of this year, blockchain media outlet, Cointelegraph reported that cryptocurrency trading platform MEXC has ranked as the world’s top liquidity provider. Recently, MEXC announced the growth of its contract businesses, and its average daily trading volume has reached an increase of 1,200%. [Users first, MEXC’s Changing for […]
3 days agocryptodaily
Babestation Launches Range Of Digital Collectibles to Celebrate 20th Birthday!
To celebrate the 20th anniversary of Babestation, the UK’s favourite webcam and TV brand have partnered with digital collectible provider Mverse to launch an exclusive range of Babestation digital collectible NFTs. Fans can buy the collection from the 3rd December 2022 on the Mverse platform at https://www.m-verse.digital/browse/babestation The digital collectibles will be limited to 100,000 and will consist of 10 exclusive pictures of each Babestation model, with 10 models, past and present featured. These collectibles will also provide the holder with extra benefits, such as access to exclusive, never before seen content, and include 200 credits to use on the Babestation website. There will also be an ultra- limited edition Babestation ‘Scrapbook’, limited to only 1000 editions. About Babestation: Way back in 2002, Babestation started as a TV programme on Sky TV. It took the UK by storm, becoming a household name, and quickly expanding to running several dedicated channels on Sky TV. Fast forward to 2022, and Babestation continues to go from strength to strength, being the UK’s best known adult brand, and by far the largest home-grown webcam provider. For more information visit https://www.babestation.tv About M-verse: Babestation is collaborating with Mverse, a platform with a vision to change the game in the digital collectable space rewarding holders with real life perks, utility and value via NFT and blockchain technology. The founders of Mverse, Ben & Alex said ‘’We are proud to partner with Babestation to celebrate this huge milestone and excited to launch one off, limited edition, digital collectibles to mark the occasion. There is a shared vision for exciting future innovation with Babestation which will add even more value to this drop, it’s definitely not one to be missed!’’ The Mverse platform creates an easy gateway for those who have not previously purchased crypto currency or digital collectible NFT’s before as users can easily purchase via a standard credit or debit card. The digital collectibles will launch onthe Babestation's20th Anniversary, 3rd December 2022. For more information, please contact [email protected] 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.
3 days agocryptodaily
Investors Prefer Flasko (FLSK) Presale To Filecoin (FIL) and Shiba Inu (SHIB)
People who are interested in cryptocurrencies often seek the best investing opportunities. However, during the current bad market, investors should be aware that the high profits formerly offered by several cryptocurrencies have diminished. Investors in Filecoin (FIL) and Shiba Inu (SHIB) should be aware of the decline in the prices of these cryptos, while Flasko appears to be an amazing investment for 2023. Whales Are Manipulating Shiba Inu (SHIB) Prices Shiba Inu (SHIB) is trading at $0.000009119, which is extremely low from its peak of 0.00005 on May 10, 2021. However, on-chain research shows that greater whale behaviors this week are the sole explanation for its recent spike. Experts have seen a clustering of "whale trades," or transactions exceeding $1 million, in the last 48 hours. Adding $22 million in Shiba Inu (SHIB) to one wallet makes its owner the sixth-largest SHIB holder. Meme coin values might hit $0.0000150 if whale activity keeps up at the current rate. However, a pullback to $0.00000090 is likely if these large investors decide to sell early. Analysts have recommended that investors cash out their Shiba Inu (SHIB) holdings while still relatively inexpensive. Filecoin (FIL) investors cashing out for Flasko (FLSK) Filecoin (FIL) is a blockchain-based cryptocurrency designed to be used as a decentralized data storage system. Filecoin (FIL)’s decentralized design makes it impossible to censor data while making it simple to recover. Filecoin (FIL) empowers users to decide who has access to their files while increasing global connectivity. Block rewards for data mining and storage on the Filecoin (FIL) network encourage members to save more data and to behave honestly. Investors are fleeing Filecoin (FIL) in favor of Flasko partly because the cryptocurrency's current price of roughly $5.5 is far lower than anticipated. The Pre-Sale of Flasko (FLSK) Has Been a Great Success The Flasko team is creating a new investment opportunity for cryptocurrency traders and investors: NFTs backed by the real-world inventory of exquisite wines, whiskeys, and champagnes. Investors need to think about the prospect of low-cost new projects like Flasko. Not only have experts predicted that investing in these modern processes would result in greater profits, but doing so would also provide investors with exposure to the rapidly growing rare wine, whiskey, and champagne industry, which is now valued at an estimated $1.4 trillion. Security is a major issue when a new crypto venture is concerned, which is why Solid Proof has completed its audit of Flasko and deemed it extremely safe, with a liquidity lock of 33 years on Flasko tokens. Flasko tokens only cost $0.099 because it is still in their presale, which won’t be for long as crypto analysts have predicted a 5,000% increment in Flasko’s worth by next year. Check out the links below to learn more. Website: https://flasko.io Presale: https://presale.flasko.io Telegram: https://t.me/flaskoio Twitter: https://twitter.com/flasko_io 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.
4 days agocryptodaily
UnUniFi Protocol raises $1.5M in Seed Round to build the first Decentralized Cross-Chain NFTFi Platform with Auto DeFi Yield
New York, New York, 1st December, 2022, ChainwireUnUniFi is very proud to announce the completion of a $1,500,000 strategic fundraise led by gumi Cryptos Capital, with participation from Coincheck, Hyperithm, MZ Web3fund, Arriba Studio and gC Incubation. “The true utility of UnUniFi is NFTFi functionality with a proprietary valuation algorithm, combined with our interchain yield aggregator.” -Yu Kimura, Founder UnUniFi is a Layer1 blockchain protocol for providing efficient NFT lending through an internal NFT marketplace on the Cosmos ecosystem. UnUniFi protocol started development in Q4 2021, and launched its mainnet in May 2022. This strategic fundraise marks the conclusion of our seed funding round, with the support of venture capital funds and investors from around the world. UnUniFi will use the funding from this seed round for continued development and scalability in line with the Roadmap, with an immediate focus on delivering the product releases and product-market fit (PMF). We are very grateful for such great support so early in our development, and we look forward to realizing our mission “to give every NFT the opportunity to DeFi”. Why is UnUniFi Special? UnUniFi will be the first NFTFi platform to create a proprietary NFT valuation algorithm calculated using real demand data, while allowing its users to generate automatic DeFi yield on borrowed assets. While other NFTFi platforms employ a peer-to-peer or liquidity-pool lending model, UnUniFi combines real demand for the NFT itself with the intrinsic demand for liquidity generation, giving NFT holders faster and more flexible access to lending. This technology is scalable for institutional users and can be implemented externally by other platforms as an NFT valuation oracle. Additionally, UnUniFi's API, client library, Bubble plugin, and frontend incentive module all combine to allow the project to become the first successful ecosystem with a truly “decentralized frontend”. Learn more: How does UnUniFi work? “Many projects have tried to build a financing ecosystem around NFTs, since NFTs have become a significant asset class. However, due to the unique nature of NFTs, low liquidity causes situations where it is hard to recover financing capital. During distressed markets, this becomes a bottleneck. UnUniFi comprises of a marketplace infrastructure with built-in price discovery functionality; this allows liquidity to be secured from the beginning. We believe UnUniFi will be able to create opportunities for the huge market of NFTFi” said Rui Zhang, Managing Partner of gumi Cryptos Capital. What Comes Next? While the completion of the seed funding round represents a huge milestone for our team, UnUniFi's immediate focus is on realizing its Q4 product releases and PMF. These objectives include: bringing to market NFTFi functionality with the ability to collateralize NFTs; the Interchain Yield Aggregator for automatic DeFi yield; enabling of Cosmos IBC (Inter-Blockchain Communication) and more. These core functionalities will help realize the foundations of a truly decentralized NFTFi platform. Through staggered updates and announcements the goal is to continue creating rapid public awareness about the status and availability of our upcoming releases. In order to expand the UnUniFi ecosystem, the team is actively seeking and negotiating with NFT projects (an NFT is not limited to art or pfp. — there are many potential applications in real estate or securities domains, etc.), dApps, and other potential partners to identify strategic partnerships. UnUniFi continues to accept inquiries from external collaborators for consideration, where applicable, and welcome other projects to contact us and join the UnUniFi ecosystem. In the meantime, we continue working on our deliverables and pushing forward in our mission to encourage the widespread adoption of NFTs as a legitimate asset class through practical and usable DeFi technologies. About UnUniFi: UnUniFi is a Layer1 blockchain protocol for providing efficient NFT lending services through an internal NFT marketplace with Auto DeFi Yield, all built on the Cosmos ecosystem. UnUniFi will be the first NFTFi platform to create a proprietary NFT valuation algorithm calculated using real demand data, while allowing its users to generate automatic DeFi yield on borrowed assets through an interchain yield aggregator. UnUniFi aims to be a dApps platform with NFT price information at its core; the internal NFT marketplace provides valuable data for the NFT price discovery function, scalable for usage by external platforms and Cosmos IBC integration. Follow Us: Website | Twitter | Discord | GithubContactChristopher [email protected]
4 days agocointelegraph
P2P Financial Systems panel: Crypto core values and transparency are critical for DeFi
Cointelegraph’s editor-in-chief Kristina Cornèr moderated a panel discussion on DeFi's future among market dynamics, cyberattacks and regulatory uncertainty.
4 days agocointelegraph
Crypto and Capitulation — Is there a silver lining? Watch Market Talks on Cointelegraph
Join us as we discuss the current state of the crypto market and whether there could actually be a silver lining to capitulation. Hosting the show will be Ray Salmond, head of markets at Cointelegraph, and our special guest this week is Magdalena Gronowska.
4 days agocryptodaily
SubQuery Announces Integration with Flare Network
Dubai, UAE, 1st December, 2022, ChainwireSubQuery is excited to announce it has extended its data indexing support to Flare Network, the blockchain that aims to connect everything. The partnership was made possible after SubQuery received a grant from the Flare Ecosystem Support Programme. Flare is a blockchain which presents developers with a simple and coherent stack for decentralized interoperability, allowing dApps to serve multiple chains through a single deployment. This cross-chain approach is consistent with SubQuery’s continuous effort to become the universal blockchain indexing tool for web3 developers. Flare supports EVM-based smart contracts, and has data and interoperability infrastructure built natively into the blockchain, providing dApps with highly decentralized price feeds and secure state acquisition from other blockchains. Flare is also building the capability to create decentralized, multilateral and insured bridges between different blockchain networks to achieve trustless interoperability. Hugo Philion, Flare Co-founder & CEO, said, “We admire SubQuery's decentralized data indexing solutions and are excited for them to launch on Flare mainnet. This will complete another important piece of Flare's developer engagement strategy." SubQuery provides decentralised data indexing infrastructure to developers building applications on multiple layer-1 blockchains including the Cosmos ecosystem, Polkadot, Algorand and Avalanche. As an open data indexer that is flexible and fast, it helps developers build APIs in hours and quickly index chains with the assistance of dictionaries (pre-computed indices). Engineered for multi-chain applications, SubQuery allows developers to organize, store, and query on-chain data for their protocols and applications. SubQuery eliminates the need for custom data processing servers, helping developers focus on product development and user experience. “We’re proud to be supporting teams building on Flare Network with our fast, flexible and universal indexing solution. We are excited to deliver another integration that enables Flare developers to index their data faster and easier, and build complex dApps with the help of SubQuery.” — Marta Adamczyk, Technology Evangelist at SubQuery Flare Network developers will benefit from the full SubQuery experience, including the open-source SDK, tools, documentation, developer support, and other benefits developers receive from the SubQuery ecosystem. Additionally, Flare Network is accommodated by SubQuery’s managed service, which provides enterprise-level infrastructure hosting and handles over 400 million requests each day. SubQuery is now focused on launching the Kepler canary network before decentralising and tokenizing the protocol to build the SubQuery Network. If you would like to join SubQuery as a Flare launch partner, please reach out to [email protected] Getting Started The best way is to start with our starter project which contains a running project with an example of all mapping functions. You'll need to install a recent version of @subql/cli via npm i -g @subql/[email protected] If you don't want to see a kitchen sink example, you can follow a step by step guide on how to create a real world example. Follow our quick start tutorial to see how to index all Flare FTSO Rewards on the Songbird network in less than 15 minutes. With SubQuery's Flare integration, we can index the following: BlockHandler: All blocks and their hash and height TransactionHandler: All transactions and their hash, height, and timestamp LogHander: Logs and other on chain messages as a result of transactions made SubQuery's Flare implementation has been designed to operate almost identically to SubQuery's Avalanche, Polkadot, Cosmos, and Algorand support, and in a similar way to the Graph's approach. We've updated the SubQuery Documentation to add Flare specific information. You can begin by following this excellent getting started guide here. Key Resources Developer documentation (SubQuery Academy) Starter project (Github) Example project that indexes FTSO rewards Discord community (including technical support) About Flare Network Flare is a blockchain built to connect everything. It presents developers with a simple and coherent stack for decentralized interoperability, allowing developers to serve multiple communities and ecosystems simultaneously through a single deployment. Flare’s protocols now provide: Scalable EVM-based smart contracts. Highly decentralized price feeds. Secure state acquisition from other blockchains. Flare and ecosystem partners are also building: Insured smart contract token bridging. Non-smart contract token bridging. Secured data relay. Horizontal scaling through a fully interoperable multi-chain ecosystem. Website | Twitter | Discord About SubQuery SubQuery is a blockchain developer toolkit facilitating the construction of Web3 applications of the future. A SubQuery project is a complete API to organise and query data from Layer-1 chains. Currently servicing Polkadot, Avalanche, Algorand, and Cosmos projects, this data-as-a-service allows developers to focus on their core use case and front-end without wasting time building a custom backend for data processing activities. In the future, the SubQuery Network intends to replicate this scalable and reliable solution in a completely decentralised manner. ​​Linktree | Website | Discord | Telegram | Twitter | Matrix | LinkedIn | YouTube ContactDan [email protected]
4 days agocryptodaily
The Hideaways (HDWY) Enjoys Rapid Growth As Ethereum (ETH) And Ripple (XRP) Prices Stagnates
The Hideaways (HDWY) is one of the few cryptocurrencies that looks promising to grow tremendously in 2023, especially in light of the current economic scenario when others like Ethereum (ETH) and Ripple (XRP) are struggling to stay afloat. Each and every one of us who is thinking about investing wants to find a way to get rich quickly and easily. Keep reading to find out more about The Hideaways (HDWY), a token that could turn out to be a surefire moneymaker. Ethereum (ETH) Shows Little Sign of Recovery Although Ethereum's (ETH) price has dropped below the $1,500 mark again in recent days, the crypto community as a whole still appears to be optimistic about the cryptocurrency's long-term prospects. The cryptocurrency community as a whole is becoming increasingly bullish as the year progresses, with the average price of Ethereum predicted to be $1,600 by the conclusion of the year. If this prediction turns out to be accurate, the price would increase by $384, or 31%, from the time of publishing. On the other hand, the news that the FTX "hacker" transferred an astonishing 15,000 ETH valued at $16 million into BTC, which is based on the on-chain data from Etherscan, could have an influence that will cause the price of Ethereum to decrease even lower. Challenges Persist For Ripple (XRP) Since the fall on June 18th, XRP's price has been rather stable around $0.288. Although it broke through the $0.381 barrier on September 20 with a vengeance, it was unable to maintain its momentum. Worsening market conditions and dwindling buying power conspired to send Ripple tumbling down below the $0.381 support level. According to indicators over longer time frames, the bottom is at the $0.288 level. As long as the Ripple (XRP) price stays over $0.381, there is no reason to worry about how low the coin can fall. As a first objective, bulls have set their sights on the $0.441 mark, which is around 10% above the current price. This is a challenging obstacle, the same as the $0.381 one. A successful reversal of this resistance, though, would allow XRP's price to once again approach the $0.509 mark. The Hideaways (HDWY) To Lead The Market In 2023 The Hideaways are going to be the first company to combine the $240 trillion real estate market with bitcoin on a single alternative investing platform. There has been so much buzz about The Hideaways recently that even Ethereum (ETH) and Ripple (XRP) investors are considering buying in. And its novel business model is a big reason why. The Hideaways (HDWY) users will have the option to invest in a NFT backed by real-world, high-end real estate. The developers of The Hideaways (HDWY) ensure that there will be no "rug-pull" panic. First off, Solid Proof's audit of it was successful and gave it high scores. After that two-year period, a vesting period will begin for team tokens that were frozen during that time by the HDWY developers. The Hideaways (HDWY) tokens are currently being sold in a presale at a price of $0.08. Investors who buy them now may see returns of up to 60x. Website: https://www.thehideaways.io/ Presale: https://ticket.thehideaways.io/register Telegram: https://t.me/thehideawayscrypto Twitter: https://twitter.com/hdwycrypto 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.
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About Rapture

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

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