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“Unlock Profits with Uniswap: Polkadot and Moonbeam Parachain Join Forces”

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DeFi powerhouse Uniswap announced today that it will be deploying on Polkadot. The decision to open shop on Polkadot follows a near-unanimous governance vote undertaken through an initiative by Blockchain at Michigan. In roughly a month, the popular decentralized exchange (DEX) will deploy its V3 iteration for Polkadot users, which promises various advantages to previous versions, like better capital efficiency, more flexible fee structures, and improved user experience. Uniswap V3 on Polkadot exists thanks to Moonbeam, a parachain running atop the network. The offer was accepted primarily for two reasons: Moonbeam currently has Polkadot’s highest DeFi activity, and the parachain architecture is “the most EVM-friendly in our ecosystem,” enabling Ethereum virtual deployments “as smooth and frictionless as any other EVM chain out there.”

One of the biggest consumer questions since the collapse of FTX last year is whether decentralized exchanges are safer than centralized ones. Unlike FTX, Binance, or Coinbase, which are all CEXs, Uniswap doesn’t interact with banks at all. Customers must possess digital assets to use the exchange, which can make the customer experience a tad more complicated than with CEXs. However, where DEXs like Uniswap lack user-friendliness, they provide the customer with more control over their assets than CEXs. And this seems to be paying off. Per a Q2 report from CCData, decentralized exchange increased monthly volumes by 27.6% compared to last year.

Uniswap is deploying on Polkadot, which is an example of a multichain or layer zero protocol providing the infrastructure for different parachains. This will help increase scalability and provide customers with more control over their assets than centralized exchanges. This is good news as decentralized exchanges have seen an increase in monthly volumes in Q2 of this year. #Uniswap #Polkadot #DeFi #Moonbeam #EVM

You can read more about this topic here: Decrypt: DeFi Exchange Uniswap to Launch on Polkadot via Moonbeam Parachain

The post “Unlock Profits with Uniswap: Polkadot and Moonbeam Parachain Join Forces” first appeared on Byte Syze Crypto.

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Justin Sun Predicts Huobi Crypto Exchange to Secure Hong Kong License in Under a Year

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Tron founder and advisor to the exchange, Justin Sun, has stated that Huobi could get a Hong Kong crypto license in six to twelve months. Specifically, Sun told Coindesk that the exchange applied to become a virtual asset service provider (VASP) last week. Additionally, Sun discussed the process of the VASP application and his belief that the crypto exchange could have an answer by the end of the year. Huobi had recently relocated to Hong Kong, aiming to launch Huobi Hong Kong by the summer. Sun was asked about embracing potential competition in the Canadian market and noted the strict regulatory standards in the country, referring to the Caribbean, Hong Kong, and Japan. There has been no verification of other cryptocurrency exchanges that have applied for a similar license, however, Coindesk reported Sun’s expectation that five to six other exchanges could make the move.

This news is good for Huobi as they are in the process of obtaining a crypto license in Hong Kong, which would allow them to operate in the region and serve customers. Other exchanges may also apply for the license, and the grace period given to the exchange could provide them with the opportunity to get approval in the next six to twelve months.

#Huobi #HongKong #CryptoLicense #VASP #JustinSun

You can read more about this topic here: Watcher Guru: Justin Sun Says Huobi Could Get Hong Kong Crypto License in 6-12 Months

The post Justin Sun Predicts Huobi Crypto Exchange to Secure Hong Kong License in Under a Year first appeared on Byte Syze Crypto.

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Crypto Rug Pulls: How $45 Million In Defi Attacks Were Lost In May

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#CryptoSafety #RugPulls #DefiExploits #ProtectInvestors

You can read more about this topic here: Watcher Guru: Crypto Rug Pulls Outvalued Defi Attacks in May, $45 Million Lost

The post Crypto Rug Pulls: How $45 Million In Defi Attacks Were Lost In May first appeared on Byte Syze Crypto.

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CFTC Set to Revamp Risk Regulations: How it Impacts the Crypto Industry

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The Commodity Futures Trading Commission (CFTC) has proposed a re-modelled rule-set for risk management as part of its effort to respond to the U.S. banking crisis. Commissioner Christy Goldsmith Romero highlighted the need for such regulations due to the risks posed by the emergence of technologies like crypto, AI, and cloud services. The CFTC’s advance notice of proposed rulemaking will be open for public comments for 60 days. The final version will then be voted upon. #CFTC #RiskManagement #Crypto #Regulations

You can read more about this topic here: Watcher Guru: Crypto: U.S. CFTC Looking to Change Risk Rules

The post CFTC Set to Revamp Risk Regulations: How it Impacts the Crypto Industry first appeared on Byte Syze Crypto.

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