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August 3, 2022
With the monthly release of the BUSD Monthly Reserves Holding Reports, investors have access to a full statement of instruments backing BUSD.
Introducing: BUSD Monthly Reserves Holding Reports
In an August 1 announcement, Binance informed users of the introduction of the BUSD Monthly Reserves Holding Reports. Following the collapse of Terra and the associated UST stablecoin, fiat-pegged assets have come under increased regulatory scrutiny.
With the monthly publication of information on reserves backing the BUSD stablecoin, Binance is raising the bar on transparency within the cryptocurrency ecosystem.
Assuring users of the safety of the BUSD stablecoin, Binance, in the announcement blog post, confirmed that BUSD is a token regulated under the New York State Department of Financial Services (NYDFS). According to the announcement, Binance stated:
“BUSD’s cash-equivalents reserves include (1) US Treasury bills with a maturity of less than 90 days and (2) overnight loans secured only by US Treasury securities.”
Further, Binance stated that Paxos Trust, the company managing the issuance of BUSD, holds customer assets in segregated accounts. There is no comingling of funds in the custodial relationship. Therefore, if the company becomes insolvent, the Superintendent of NYDFS will return assets held in custody by Paxos Trust to their owners in an orderly manner.
The Monthly reserve holdings reports can be accessed through: https://paxos.com/monthly-reserves-holding-reports/
Check out the Web3Wire Linktree to keep up with all relevant Web3 and Crypto!
Follow us on Twitter and Instagram!
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This is a paid Ask Me Anything (AMA), BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement AMA for $2000 Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the AMA.
Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2000. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2000. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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August 7, 2022
Axie Infinity Holds Summer Loving Art Contest
The prize pool consists of 1,700 $AXS, 1 Mystic Axie, 6 Origin Axies, Summer Axies, and a mystery prize.
Artists Challenge
Axie Infinity, a PlayAndEarn blockchain game built on Ethereum sidechain Ronin, announced an art contest related to its ongoing summer event.
In a tweet on Aug. 4, Axie Infinity called on artists within its community to showcase their skills and get rewarded for it. The top 100 entries will win at least 1 $AXS from a pool totalling 1,700 $AXS, 1 Mystic Axie, 6 Origin Axies, Summer Axies, and mystery prizes.
The event comes at a time when battlers are in the offseason, and breeders are taking center stage to breed rare summer parts for their Axies.
xKerod, an Axie Esports player and content creator from GTI guild, decided to answer the call and enter the contest.
“I was really happy, I really love contests like these,” xKerod said. “I'm a competitor. I want to win, but share my art with everybody [at the same time]. I really want to do something unconventional, I don't really know what I will do, but it's gonna be insane with my art.”
Those who wish to join xKerod in the contest must submit a piece of art that relates to the parts of either one of the two Axies on the image above, or any six-part summer Axie. Submissions can be drawings, paintings, music, sculptures, 3D printing, or animations. Submit entries through Twitter with the hashtag #AxieSummer. Contestants then just fill an online form to finalize their entry.
Check out Axie Infinity’s Substack post for more details.
What Is Axie Infinity:
Axie Infinity is a PlayAndEarn blockchain game where players breed, collect, and play with digital pets called Axies and earn from the interactions. It’s built on Ronin, an Ethereum-based side-chain developed by Vietnamese-based gaming studio Sky Mavis. The protocol put eyes on the PlayAndEarn gaming industry back in 2021. In addition, the team is building a digital nation where each community member comes together to play, earn, and live in Lunacia.
Where to find Axie Infinity:
Website | Twitter | Medium | Whitepaper
Check out the Web3Wire Linktree to keep up with all relevant Web3 and Crypto!
Follow us on Twitter and Instagram!
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August 7, 2022
NodeReal Teams With ApeSwap in Key Partnership
Through the use of Meganode’s Nodes and APIs, ApeSwap aims to become the most connected DeFi hub.
ApeSwap Aims to Make DeFi Accessible to all
In a recent blog post, NodeReal, a one-stop blockchain infrastructure and services provider, announced its partnership with ApeSwap, a leading Decentralized Finance (DeFi) protocol.
The NodeReal team told BSC News:
“We are very honored to be chosen by Apeswap and receive the great compliments. NodeReal and ApeSwap share the same vision to make Web3 accessible for all. We adhere to providing the best-in-class services to support our partners.”
According to the announcement blog, the partnership between the two entities is aimed at deploying NodeReal’s services toward ensuring that transactions on ApeSwap are secure, accessible, and made open for all.
As stated by NodeReal, the partnership is powered through its flagship product - MegaNode. MegaNode provides developers with Web3 infrastructure needed to deploy Decentralized Applications (dApps). Through NodeReal’s MegaNode, projects can access nodes and APIs on Ethereum Virtual Machine (EVM) blockchains, such as BNB Chain and Ethereum.
Speaking on the decision to use MegaNode, ApeSwap Co-Founder Ape Guru told BSC News:
“The main reason was the performance and the fact that it was the only RPC provider that was able to keep pace with our indexer Sugraph. It was at least at the same level of our current setup. In addition to this as the article mentions, the cost relative to the performance and value, just blew out of the park every competitor I've assessed. Finally their team has been super helpful during the whole journey, supporting us, while helping each other build better infra.”
On how the partnership will help the DeFi protocol fulfill its objectives, he added:
“We believe the partnership can help make DeFi more accessible by showcasing a high quality free and paid RPC provider that can bring performance and stability to DeFi users.”
On the importance of NodeReal and its products within the BNB Chain, the NodeReal team said:
“The NodeReal team has a deep understanding of the blockchain technology and frontier technology in Web3, with the capability to maintain the system stability and scalability in an environment of millions of daily transactions. Some of our team members come from veteran positions at BNB Chain, and we are one of the core contributors to the BNB Chain development.”
Further:
“Currently, on BNB Chain, we not only provide blockchain API services through MegaNode but also provide Blockchain-as-a-Service through Semita, which allows you to run high-performance projects by building on open source blockchain technologies in hours. NodeReal's mission is to make your Web3 real. The BNB Chain ecosystem is one of the most important areas we are committed to supporting, by providing high-performance infrastructure and services.”
What Is NodeReal:
NodeReal describes itself as a one-stop infrastructure and solution provider that embraces the high-speed blockchain era. It provides scalable, reliable, and efficient blockchain solutions for everyone, aiming to support the massive adoption, growth, and long-term success of the Web3 ecosystem.
Where to find NodeReal:
What Is ApeSwap:
ApeSwap is a leading DEX on BNB Chain, which offers users the best trading experience. ApeSwap is a blend of a decentralized exchange, yield farming, staking, and an automated market maker (AMM). ApeSwap users are urged to partake in its liquidity pool offerings via yield farming to earn its native BANANA token. What's more, these earned tokens can be used to stake and earn other tokens and unlock deluxe features.
For more information about ApeSwap, visit the platform's media links:
Website | Twitter | Medium | Telegram
Check out the Web3Wire Linktree to keep up with all relevant Web3 and Crypto!
Follow us on Twitter and Instagram!
Looking for a job in crypto? Check out the CryptoJobsNow!
Binance Announces BUSD Monthly Reserves Holding Reports
With the monthly release of the BUSD Monthly Reserves Holding Reports, investors have access to a full statement of instruments backing BUSD.
Introducing: BUSD Monthly Reserves Holding Reports
In an August 1 announcement, Binance informed users of the introduction of the BUSD Monthly Reserves Holding Reports. Following the collapse of Terra and the associated UST stablecoin, fiat-pegged assets have come under increased regulatory scrutiny.
With the monthly publication of information on reserves backing the BUSD stablecoin, Binance is raising the bar on transparency within the cryptocurrency ecosystem.
Assuring users of the safety of the BUSD stablecoin, Binance, in the announcement blog post, confirmed that BUSD is a token regulated under the New York State Department of Financial Services (NYDFS). According to the announcement, Binance stated:
“BUSD’s cash-equivalents reserves include (1) US Treasury bills with a maturity of less than 90 days and (2) overnight loans secured only by US Treasury securities.”
Further, Binance stated that Paxos Trust, the company managing the issuance of BUSD, holds customer assets in segregated accounts. There is no comingling of funds in the custodial relationship. Therefore, if the company becomes insolvent, the Superintendent of NYDFS will return assets held in custody by Paxos Trust to their owners in an orderly manner.
The Monthly reserve holdings reports can be accessed through: https://paxos.com/monthly-reserves-holding-reports/
Check out the Web3Wire Linktree to keep up with all relevant Web3 and Crypto!
Follow us on Twitter and Instagram!
Looking for a job in crypto? Check out the CryptoJobsNow!
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