OneSwap ONES ITO Goes Live on CoinEx

The global cryptocurrency exchange service provider, CoinEx has announced the launch of OneSwap’s ONES token on its platform. The listing went live yesterday, followed by the official launch of ITO on CoinEx along with yield farming and order mining on OneSwap, a day later on September 19, 2020.

ONES is the ERC20 governance token of OneSwap, a completely decentralized smart contract-based transaction protocol supporting permission-free token listing and automated market-making. OneSwap is quite unique as it supports both traditional order books and AMM, balancing market and limit orders between hybrid AMM and on-chain order book models. Further, OneSwap scores above other swaps by offering a user-friendly experience along with a suite of market information and analytical tools like candlestick chart, order ticket, depth map, price trends, trading volumes, etc. for all supported cryptocurrencies.

By the way of being in possession of ONES, token holders will be able to take part in the further development of the project by floating proposals, voting on them, and even trade them against other cryptocurrencies on secondary markets.

The CoinEx Initial Trade Offering Event

Starting September 19, the ONES ITO will go on for a duration of 20 days. During this period, users on CoinEx stand to receive ONES reward for placing trades on the platform. The total number of tokens distributed each day is capped at 25,000, out of which 20,000 is allocated for spot and margin trading, while the remaining will be assigned for perpetual contract trading activity on the platform.

In order to take part in the ITO, CoinEx users will have to first submit an application, following which they will be eligible to trade using their main or sub-accounts. Then, qualified users can start trading the approved trading pairs to receive ONES mining rewards. The mining income will be calculated automatically at the beginning of the next day (0:00 UTC) and delivered to the participant’s spot accounts.

OneSwap Yield Farming and Order Mining

With the launch of OneSwap initial mining starting today, users can start participating in yield farming and order mining. The initial reception for ONES has been great, and according to the OneSwap website, the total liquidity on the platform has surpassed $50 million and volume hitting close to 1 million within 6 hours.

Users can earn from yield farming and order mining on OneSwap by trading any of the 21 whitelisted trading pairs, which includes ONES/ETH, CET/ETH, UNI/ETH, ETH/USDT. ETH/USDC, LINK/ETH, ETH/AI, WBTC/ETH, LEND/ETH, SNX/ETH, COMP/ETH, YFI/ETH, UMA/ETH, REN/ETH, LRC/ETH, YFII/ETH, TRADE/ETH, SWRV/ETH, CREAM/ETH, CRV/ETH and WNXM/ETH.

oneswap

OneSwap has allocated a total of 4,000,000 ONES for rewards, equally distributed between yield farming and order mining activities. The maximum total payout per day for participants in yield farming and order mining is set at 100,000 ONES respectively, with earnings calculated using the following formulas:

Order Mining:

User revenue per time unit = (Value of user’s valid order/Value of total valid orders of all 21 trading pairs) X ONES released per time unit.

 

Yield Farming:

User Revenue per time unit = (Liquidity provided by user/Liquidity pool size) X N

Where “N” is the number of ONES released from the pool per time unit, which is a product of the pool’s reward percentage and total number of ONES released per time unit.

oneswap

Currently, the Annual Percentage Yield for ONES yield farming stands at 1000%.

 

More information about CoinEx OneSwap ITO is available at – https://announcement.coinex.com/hc/en-us/articles/360049820311
Step by Step Guide about OneSwap mining – https://support.oneswap.net/hc/en-us/articles/900002645983-OneSwap-Initial-Mining-Guide

 

Analyst: 1,500 Bitcoins Lost Every Day, Less Than 14 Million Coins Will Ever Circulate

Analyst: 1,500 Bitcoins Lost Every Day, Less Than 14 Million Coins Will Ever Circulate

A cryptocurrency analyst, Timothy Peterson claims that 1,500 bitcoins are lost each day meaning only 14 million BTC will ever circulate. The figure is at odds with the estimate of many organizations including Markets.bitcoin.com which place the figure at 18.5 million coins.

Still, Peterson, who is the CAIA Manager at Cane Island Alternative Advisors, argues the merits of his assertions by pointing to how this average daily loss dwarfs the 900 bitcoins that are mined every day.

Furthermore, to support his contention, Peterson points to a research note published by his organization earlier in the year. In the five paged document, the term “irretrievably lost” is introduced to the bitcoin lexicon.

Explaining the term, the research note says irretrievably lost bitcoins represent funds or “money (that) is gone, it is no longer part of any economy anywhere.” The document adds that such bitcoins “are unable to be transacted and the cost of recovery exceeds the value obtained from successful retrieval.”

Analyst: 1,500 Bitcoins Lost Every Day, Less Than 14 Million Coins Will Ever Circulate

According to Bitcoin.com Support, “all bitcoin transactions are irreversible, so there is no way to reverse a transaction that has already been sent.” Indeed, there are numerous cases of individuals that have misplaced or lost private keys thus losing access to their funds permanently. Earlier in the week, News.Bitcoin.com published the story of how hackers have been trying for years to crack a bitcoin wallet that is believed to contain 69,370 coins, which cannot be accessed.

Meanwhile, after arguing their case, the team at Cane Island Alternative Advisors goes to say that based on own methodology used in prior research, they were able to estimate that:

Since 2010, about 4% of the Available Supply of bitcoin has been lost each year. This puts the current Available Supply at about 13.9 million coins, well below the 18.3 million Total Supply figure publicized. This means that about 28% of all bitcoins have been Irretrievably Lost.

To buttress their claims, the team at Cane Island Alternative Advisors refers to earlier studies on the same subject, first by Ratliff in 2014 and Chainalysis in 2017. The Cane Island Alternative Advisors was released on April 16, 2020.

Meanwhile, some bitcoiners challenged Peterson following his September 14 tweet about bitcoin’s diminishing supply. Others like the Bitcoin Rabbi felt the figure of 1,500 bitcoins getting lost every day is very high.

However, in his response, Peterson says:

“(The) Chainalysis report, if you do the math, says 1900 per day a/o Dec 2017. My numbers are more conservative than that.”

Still, the research note does not provide links to the Chainalysis report in question. Another Twitter user questions the research findings arguing that they “imply that in 30 years all 21 million bitcoin are lost.”

While some argue that Peterson’s claims are an exaggeration, there is an agreement that the actual figure of circulating supply could be lower than the often reported 18.5 million.

What do you think is the correct figure of bitcoin in circulation? Share your thoughts in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is 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 this article.

New Bitcoin bull run? Whales and institutions accumulating, data shows

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CoinEx Lists ONES Token First and Launches Initial Trade Offering with OneSwap’s Official Launch

CoinEx Lists ONES Token First and Launches Initial Trade Offering with OneSwap’s Official Launch

OneSwap is a groundbreaking new DeFi project offering a decentralized exchange protocol on a smart contract, with permission-free token listing and automated market making. It offers multiple advantages over other swaps including the ability to preform limit orders and a user friendly interface that resembles familiar trading platforms. OneSwap now lists the ONES token first and launches an “Initial Trade Offering” on the popular CoinEx exchange that has made a strategic investment in the project.

DeFi Your Expectations With OneSwap

CoinEx, a global cryptocurrency exchange service provider, is the first to have listed OneSwap’s ONES token. The exchange also initiated an “Initial Trade Offering” (ITO) event for ONES, where users can get corresponding mining reward from conducting an effective transaction since September 19. Rules for the ITO are also now publicly available.

OneSwap is an on-chain one-stop trading service platform which combines the automated market makers (AMM) model that attracted a lot of investors to DeFi projects recently with an on-chain order book. This allows it to offer the best of both worlds from decentralized exchanges and traditional trading platforms, such as supporting limit orders. The protocol requires no permission to create a market or charges any fees for token listing. Users can inject liquidity into OneSwap’s trading pair capital pool with their idle digital assets and earn transaction fees as liquidity providers. The platform also provides popular trading analysis tools including candlestick chart, order ticket, depth map, price trends and trading volumes.

The ONES token will be used to facilitate on-chain governance and distribute rewards. Users with a minimum amount of ONES can initiate proposals and all holders can vote on the proposals in the community as a way of on-chain governance. According to the whitepaper, 5% of tokens are set for initial mining rewards and 45% are set for forward mining. The forward mining rewards are mainly meant to support liquidity mining, transaction mining, community construction and development, promotion and publicity events and project partnerships.

What’s more, ONES is a deflationary token in that it is repurchased and burned automatically by the token repurchase contract. 40% transaction fees generated in the Pair contract will be used to repurchase and burn ONES.

CoinEx Lists ONES Token First and Launches Initial Trade Offering with OneSwap’s Official Launch

Founded in December 2017, CoinEx is a professional cryptocurrency exchange providing trading services in over 100 locations around the world. It is a subsidiary brand of the ViaBTC Group, which owns the fifth largest BTC mining pool and is also the largest BCH mining pool in the world. In July 2020 CoinEx announced it has strategically invested in OneSwap as the first project for its $50 million Ecosystem Development Fund after researching dozens of DeFi projects worldwide.

CoinEx Initial Trade Offering Event for ONES

CoinEx has first launched ONES worldwide on September 18. On September 19 CoinEx also launches an “Initial Trade Offering” event that will run for 20 days. During this period users can get ONES as a reward by trading on CoinEx (no limit on tokens, trading pairs or markets). The total daily reward is 25,000 ONES, of which 20,000 ONES is for spot trading (including margin trading) and 5,000 ONES goes to perpetual contract trading. Participants can also use CET as fees and enjoy VIP fees discount at the same time.

OneSwap also officially supports yield farming and order mining simultaneously from September 19. Compared with other swaps, OneSwap has introduced the lossless order mining on the basis of yield farming. It is common sense for DeFi investors that any deviation in the token price under the AMM model will cause losses to investors in yield farming. The order mining pioneered by OneSwap can provide DeFi investors with a more robust investment method. It does not sacrifice any liquidity, and users can cancel transactions at any time without causing losses due to market changes.

To learn more about how OneSwap works see the whitepaper on the project’s website, and check out CoinEx’s announcement for further information about the ITO. See the rules for yield farming and order mining here.


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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is 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 this article.

Crypto Travel Agency Travala Enters Chinese Travel Market

The Binance-backed cryptocurrency travel booking website Travala is reportedly expanding into the growing Chinese travel market, as the country’s tourism industry starts rebounding from the COVID-19 pandemic.

According to CoinDesk, the online travel agency has launched a Chinese language website and created a regional customer support team. It’s also starting to market to travelers in the country, in a bid to capitalize on the country’s recovery from the pandemic.

Speaking to the publication Juan Otero, CEO of Travala.com, revealed the firm is trying to capitalize on domestic tourism. He said:

Europe, the U.S. and our other strong markets will potentially take a good three to four months to recover, whereas in China, the recovery is happening now and very fast

China’s domestic flight bookings are reportedly back up to pre-COVID-19 levels, and hotels are now filing up for the upcoming Golden Week holiday. Per Otero, China is one of the “largest domestic travel markets in the world.”

In its bid to expand to the Chinese market, Travala will also start accepting WeChat Pay as a payment option, along with its lineup of cryptocurrencies and fiat currencies, which now include CNY. As CryptoGlobe reported, the online travel agency partnered earlier this year with the Expedia Group to add more than 700,000 hotels and accommodations to its platform, in addition to the 2 million hotels it already had.

In a blog post, Travala notes that WeChat users will soon be able to login or signup to the platform using their WeChat accounts, as users are already able to connect to it using Facebook, Google, and Binance.

Featured image via Unsplash.

Here’s Why Bitcoin’s Macro Chart Remains Bullish Despite $12k Rejection

Bitcoin Price

Here’s Why Bitcoin’s Macro Chart Remains Bullish Despite $12k Rejection


  • Earlier this month, Bitcoin was rejected at the pivotal $12,000 resistance level after recovering from a drop to $11,000.
  • The cryptocurrency proceeded to drop as low as $9,800, with the market selling the failed breakout attempt.
  • Bitcoin now trades at $10,800, far below those recent highs and below some technically important levels.
  • BTC remains in a positive state on a macro time frame, though, as analysts note that the coin has held a macro support.
  • Analysts aren’t counting out short-term weakness, though.
  • One analyst recently cited three pivotal technical signs as reasons for asserting short-term bearish sentiment about Bitcoin.

Bitcoin’s Macro Outlook Remains Bullish as Key Support Confirms

Bitcoin’s rejection at $12,000 at the start of this month was far from bullish: $12,000 has long acted as an important horizontal level for the leading cryptocurrency, marking an end to both rallies and corrections.

Despite the technical significance of the correction at $12,000, Bitcoin remains in a positive state on a macro time frame.

Tyler D. Coates, a technical analysis author and Bitcoin market commentator, shared the chart below on September 17th.

It shows that despite recent price weakness, BTC has printed a clean bounce off the macro support from $10,000-10,500. This is important because this zone is where BTC topped during three separate rallies over the past 12 months.

Bitcoin confirming that level as support suggests that the prevailing trend is now bullish.

Image

Chart of BTC's price action over the past year with analysis by crypto trader Tyler D. Coates on Twitter. Chart from TradingView.com

Don’t Count a Short-Term Correction

Analysts aren’t counting out a short-term correction.

As reported by Bitcoinist previously, one trader noted that there are three pivotal signs suggesting Bitcoin will reverse on a daily time frame. They are as follows:

  • Bitcoin has formed a Tom Demark Sequential “Sell 9” candle, seen near the tops of trends or when an asset is poised to put a pause on its uptrend.
  • BTC failed to surmount the important technical zone around $11,000, confirming it as resistance.
  • Bitcoin has formed a hidden bearish divergence with both its Fisher Transform and Stochastic RSI.

Image

Chart of BTC's price action over the past few weeks with analysis by crypto trader Crypto Hamster (@Cryptohamsterio on Twitter). Chart from TradingView.com

Another factor that could drive BTC lower in the short term is the CME futures gap that sits around $9,600.

Bitcoin has long filled CME futures gaps it has formed within a number of weeks.

It hasn’t been determined why this is the case but should history rhyme, there’s a good likelihood that Bitcoin will retest the $9,600 region in the following weeks or months.

Featured Image from Shutterstock
Price tags: xbtusd, btcusd, btcusdt
Charts from Tradingview.com
Here's Why Bitcoin's Macro Chart Remains Bullish Despite $12k Rejection

ArbiSmart Users Get What They Wished For, Good ROI and Newly Added USDT Support

In the crypto space, the term Decentralized Finance (DeFi) has become the buzz word of 2020 as interest continues to pick up in the space. While there are several financial services verticals that falls under the broad DeFi spectrum, the ones that allow investors to earn a steady stream of passive income is something that is sought by many. It is even more exciting if the service does not require them to constantly keep track of such investments for profit optimization.

Such a solution is made possible by proprietary smart AI-based machine learning algorithms implemented by ArbiSmart. The EU based crypto arbitrage platform offers a reliable automated trading platform that allows users to leverage the price difference in crypto assets across leading exchanges to generate profits.

Unlike manual trading, ArbiSmart’s automated solution is capable of placing round-the-clock high-frequency trades across more than 20 leading global exchanges, in real-time. The platform has the potential to generate profits of up to 45% while exposing the users’ funds to minimal risk, close to 0%. In fact, even during the prevalent economic slowdown that is currently affecting global markets, ArbiSmart has managed to consistently maintain good profit margins.

Apart from its ability to generate decent profits on crypto investments, ArbiSmart is a regulated platform licensed by Estonia’s Financial Intelligence Unit to provide cryptocurrency-related financial services. It is also known to maintain high standards when it comes to customer service and security features protecting clients’ personal information and funds. All these factors have contributed to its growing reputation, making it an attractive option for investors.

Customer Satisfaction Always Takes Priority on ArbiSmart

If the platform’s customer service is any indication, one will know that ArbiSmart takes customer satisfaction seriously and is willing to go to great lengths to keep them happy. Users can provide inputs and feedback to the team which will be reviewed and considered for further improvements to the platform. The latest such development to feature on ArbiSmart is the inclusion of support for USDT deposits. Apart from the newly introduced USDT, users can also make deposits with other leading cryptocurrencies, credit and debit cards, and wire transfer.

All it takes to earn passive income is an account and a minimum EUR 500 deposit on ArbiSmart. The Smart Investment Calculator on the platform further assists users in deciding the investment amount that is right for them to enjoy preferred returns. It also provides a smart wallet feature where users can park their crypto assets and earn interest.

Meanwhile, the team at ArbiSmart continues to work on developing new features and services as per their well-planned product roadmap and user requests. Eventually, users can start benefiting from these updates as and when it happens.

Learn more and start investing on ArbiSmart at – https://arbismart.com/

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