Over the past 35 days, the total value locked in decentralized finance (defi) protocols has expanded by .89 billion, recovering from a low of just over billion on April 13. Although it has not yet reached the 0 billion mark, the value locked in defi is approaching that milestone after hovering just below it. […]
Bitcoin News
FXS Price Poised For Uptrend As Frax Finance Unveils Roadmap To Reach $100B TVL
Frax Finance, a decentralized finance (DeFi) protocol, recently unveiled its Singularity Roadmap. It aims to propel the total value locked (TVL) of its layer 2 blockchain, Fraxtal, to 0 billion by the end of 2026. This notable surge would represent a 760,000% increase from the current TVL levels, which stand at million.
Frax Finance Singularity Roadmap
According to the protocol’s announcement, Fraxtal, the substrate that powers the Frax ecosystem, serves as Frax Finance’s operating system. With the launch of Fraxtal and achieving an effective 100% Collateralization Ratio (CR), Frax Finance claims to have consolidated its core product offerings.
To reach the ambitious 0 billion TVL goal, the protocol has announced that it has already generated over million, reaching the coveted 100% CR.
As announced, with this milestone achieved, the FRAX stablecoin, which has remained relatively dormant during the process, and the FXS revenue share, which has been temporarily reduced by 90% to conserve assets, can now undergo a “transformative change.”
In addition, the upcoming introduction of Layer 3s (L3s) on Fraxtal is expected to be a key factor in further contributing to the growth and adoption of the protocol.
Fraxtal, which is built on the Optimism (OP) network, stands out as one of the most widely used layer 2 solutions on top of Ethereum (ETH), according to the protocol. The Frax team says it has developed its underlying incentives to provide a seamless experience for developers and users, further encouraging adoption.
In particular, by owning the entire stack, Frax can introduce advanced features such as account abstraction, new precompiles, privacy features, aggregated decentralized applications (dApps), and interoperability with Superchain.
The protocol believes these features will enhance the on-chain experience, making Fraxtal the “preferred” platform for holding, staking, and transferring crypto assets.
Expansion Strategy
The proposal also unveils Frax Finance’s plan to establish 23 Layer 3s within 365 days, kicking off the “Fraxtal Nation” community. By supporting these 23 chains with developer access, incentives, and investment, Frax aims to foster a positive-sum approach and provide additional support to official partners.
The protocol also suggests that these partners will receive “substantial allocations” of FXTL points, aiming to solidify the role of the FXS token as the ultimate beneficiary of the Frax ecosystem.
Moreover, Frax Finance founder Sam Kazemian intends to allocate 50% of the revenue from protocol fees to veFXS token holders. In comparison, the remaining 50% will be used to acquire FXS and other Frax assets for pairing in the FXS Liquidity Engine (FLE).
This initiative will increase liquidity, strengthen the Frax balance sheet, and provide additional incentives for the protocol’s stakeholders.
Frax Finance’s proposal also seeks to reactivate the protocol fee switch, which was temporarily turned off during the consolidation phase of the protocol.
By reigniting this switch, a portion of the yield generated from protocol fees will be directed toward veFXS token holders. veFXS, or veiled FXS, represents a locked version of the native token, FXS, and offers enhanced voting power and participation in the Frax ecosystem.
As of the time of writing, FXS has not responded favorably to the news. Its current trading price is .93, reflecting a 3.5% loss in the past 24 hours. It is important to note that the proposed protocol features are still in development, and the impact on the Frax Finance ecosystem and the token’s performance is yet to be determined.
Featured image from Shutterstock, chart from TradingView.com
Stablecoin Sector Sees $3.26 Billion Growth Spurt; Tether Nears $100B Milestone, USDE Supply Swells by 374%
The stablecoin sector experienced a .26 billion expansion within the last eight days, climbing from 0.82 billion to 4.08 billion by Sunday, March 3, 2024. During February, increases in supply were observed in four of the top five stablecoins by market cap, with FDUSD’s supply growth leading amongst the five. Stablecoin Economy Rises 2.31% in […]
Bitcoin News
Justin Sun TRON Will Partner With $100B Mega Corporation Next Week
n Justin Sun says that Tron will be announcing a new partnership with an American megacorporation next weekn
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The NEWS Utility Token – Addressing $100B Of Ecosystem GDP
PressCoin is a special ICO. In order to get your hands around the size of this business opportunity, one has to take a step back.
This article explains how the PressCoin tokens will grow over the next five years to service a 0B+ economy, and how to think about the size of the market opportunity that this presents.
The Broken News Media Economy
The role of the rise of Facebook and Google in the downfall of journalism, nd the weakening of democracies around the world is now well understood. In March 2016 Emily Bell, Director at the Tow Center for Digital Journalism at Columbia Journalism School delivered a speech with the title, “The End of the News as We Know It: How Facebook Swallowed Journalism”.
Emily’s words rang clear and were widely reported. In the 20 months since her verdict on the fate of journalism was delivered, her idea has dug in.
The news media economy, a vital instrument in the flow of unbiased and useful information about our world, has become completely dependent on Facebook and Google for its survival. And the industry appears to be helpless to respond. In the 2016 Presidential election shameless propaganda peddled by script kiddies in Macedonia took center stage.
![presscoin](http://www.newsbtc.com/https://s3.amazonaws.com/main-newsbtc-images/2017/12/fake-news-cover1.jpg)
The two giant platform companies, Facebook and Google, supply the vast bulk of internet traffic to news sites, even as they take the lion’s share of the revenue from content they are simple linking to.
This new normal is not just destroying the news industry, it is also cannibalising the advertising industry. Nearly 30% of the global ad industry (~0B) is now digital (at about 0B) and around 60% of this is now controlled by Facebook and Google through fully automated online marketplaces. What’s more, nearly all the growth in the digital ad market (the remaining 70% and growing), is moving entirely into Facebook/Google.
In summary the news media industry has been hemorrhaging for two decades, and there are no scalable solutions in sight. And it is as a result, ripe for disruption.
News Industry Innovation Has Stalled
Sadly the depth of the crisis has also stalled innovation.
A wave of VC funded media startups between 2012-2015 showed some promise, but now even these are struggling to thrive, Buzzfeed, Vox and Vice have stalled in their growth trajectory. The industry has shown itself both unable to figure out new business models, and unable to unite to face down the Facebook/Google duopoly.
On the other hand, at least everyone now knows that this is an incredibly important problem. And being a very large market, a successful strategy here is an obvious place for a very disruptive and high risk/reward ratio solution to thrive.
PressCoin provides an entirely new system wide approach to solving this crisis.
“The value of PressCoin isn’t a single platform or revenue stream. PressCoin is a protocol, shared infrastructure and services, reference implementations, and an open developer ecosystem coupled with a startup accelerator program.
PressCoin extends reach into the regular money (or fiat) world by powering PressCoin Wallets, Payment Services, and APIs using partner Swiss-bank real-time crypto/fiat trading platform CointypeX.” – Presscoin.com
PressCoin as the Crypto-Economy for News
What is the new PressCoin economy?
At its heart, PressCoin will be a set of platforms, partners, plumbing, and business functions which will service all actors in a new digital news media eco-system.
Publishers, journalists and editors, curators, commenters and moderators, readers, subscribers, news agencies, merchandizers, digital agencies, PR and media agencies, politicians, citizen reporters, pollsters, advertisers, NGOs, neighborhood organizations, activists, investors and entrepreneurs – indeed all actors in the eco-system will be able to access PressCoin markets and use them to ply their craft.
PressCoin’s platforms will also have deeply embedded markets to enable the principle actors – publishers – to work and collaborate with each other and take on the platforms together.
To fix today’s broken world – not just the broken news industry – but the broken democratic institutions that have been be failed by the world’s news publishers. Publishers, in turn, will be drawn into participating in the PressCoin economy in three ways:
- Access to state of the art data-driven publishing technology designed to deliver a quality logged in mid-funnel experience to readers;
- The opportunity, through trading in PressCoin to own a share of the platform technology through an ERC20 Smart Contract linking Token ownership to share ownership in PressCoin Plc.
- Access to engaged pool of PressCoin economy readers who can bring additional value to their publications through active participation.
And using PressCoin’s NEWS tokens as the glue to bind them together, inside the PressCoin eco-system publishers will be able to trade in their lifeblood – content, advertising and web traffic.
NEWS Utility and the GDP of the News Economy
This is where the Utility of the NEWS token comes into its own as a disruptive agent for change.
As its use grows – initially to reunite a divided and beleaguered industry – the demand for the currency will build organic liquidity – bringing wealth back to publishing companies and enabling them to invest in and improve the quality of their content.
Over the past decade, the platform giants have made digital advertising a borderless, global market.
This will accelerate PressCoin’s growth as PressCoin will compete on the same basis – first at the edges, working with early adopters – most likely independent publishers, bloggers and niche news organisations.
And as the GDP of the new PressCoin based economy grows larger publishers will come on board as they realise they have to upgrade their legacy publishing technology or die.
And as the economy grows the value of NEWS itself will become an indicator of the health of the business within it. If the amount of business going on is high, the GDP will grow, if not it will be low.
Governments often seek to inject liquidity into markets by way of printing money.
The ICO process follows the same principle, stimulating economic activity within the ecosystem by providing a means for industry players to transact with each other and collectively grow their wealth.
The Math – PressCoin Growth Projections
The size of the news media, global advertising, and related ecosystems economy is estimated to be anywhere between 0 to T in size, depending on how many related (adjacent or vendor) industries one counts.
The goal of PressCoin is to take 5% of this market over the next 5 years – addressing B to B in opportunity.
And each dollar of revenue, when it moves through an economy composed of interrelated members, has a follow-on economic effect of creating more transactions as the money changes hands in the exchange for new goods/services.
This is measured as the velocity of money, and tends to be higher in more active economies. The sum total of all this transactional activity forms the basis of the utility of the PressCoin cryptocurrency.
In this way PressCoin plans to create high levels of organic, utility-based demand and consequent liquidity in PressCoin token markets. PressCoin’s initial listing on the CointypeX exchange will take place within days of the close of its ICO, once all investor tokens have been distributed.
The post The NEWS Utility Token – Addressing 0B Of Ecosystem GDP appeared first on NEWSBTC.