SHIBA INU plans to launch stablecoin
A lead developer behind popular meme cryptocurrency SHIB Shytoshi Kusama said that “independent developers” are crafting a decentralized stablecoin called SHI, which is expected to launch later in 2022.
The team is separately building a metaverse project with 100,000 land plots as virtual real estate. The Shiba Inu Collectible Card game, which is in the development phase, will live in SHIBA’s metaverse, according to the blog post.
Turkey’s Bitcoin P2P transactions increase by 40% as inflation rises to 78%
The inflation rate of Turkey hit a 24-year high, currently at 78.62%. With a monthly increase of 4.95%. While the lira is weakening, the volume of BTC on LocalBitcoins has increased significantly.
In the first quarter of 2022, LocalBitcoins trading volume increased by 51% compared to Q4 2021, trading volume in Q2 2022 increased by 40%. These significant increases show that people are moving to cryptocurrency to protect their finances.
Crypto hackers stole almost $2 billion in H1 2022
According to the data analyzed by the Atlas VPN team, cybercriminals looted $1.97 billion from 175 crypto project hacks in the first half of 2022. The Ethereum ecosystem suffered the most, with more than $1 billion stolen in 32 events.
The biggest hack of the ecosystem belongs to Ronin, an Ethereum sidechain built for the popular play-to-earn non-fungible token game Axie Infinity. The attackers stole over $600 million in Ether and USDC.
Polygon partners with Nothing to build smartphone
The emerging smartphone startup, Nothing, said it has partnered with Polygon to bring NFT to the company’s new product, the Nothing Phone smartphone (1).
This NFT project is called Nothing Community Dots, which will airdrop the investor community NFTs into the company to receive special benefits. One of the first rewards to be airdropped is an invitation to the Nothing Phone (1) launch event on July 12 in London (UK).
The Boring Company will accept Dogecoin on Loop
Elon Musk’s Boring Company will accept the meme cryptocurrency dogecoin as payment for rides on its Las Vegas transit system Loop.
Rides are currently free on Loop but the company plans to charge a fee in the future, according to CNN. The Boring Company’s Las Vegas Loop ticket page shows that tickets can be purchased with dogecoin alongside traditional payment options.
Italian government will provide $46 million in subsidies for blockchain projects
In a Tuesday announcement, The Ministry of Economic Development of Italy said companies and research firms will be able to apply for funding from the government for the development of projects related to artificial intelligence, the Internet of Things and blockchain technology.
The fund will have an initial budget of 45 million euros ($46 million) — for expenses and costs from 500 thousand (worth $512,150) to 2 million euros ($2,048,600) as part of the Italian government’s goals for investments in technology, research and innovation.
NAO sets new ATH after 1 week since Launchpad
The NAO token has brought practical benefits to holders through a carefully designed model and smart way of operation, gradually proving its core value and attracting many holders.
This helped NAO set a new All-time-High at 2,252 VNDC within 1 week after Launchpad, double the launching price of 1,000 VNDC. NAO is currently the 2nd-ranked asset on the Top Gainer, leading the Top Trending charts on ONUS with 174,000 views.
COTI partners with Kirkstone to offer Djed to their users
COTI announced a partnership with Kirkstone, a real estate company that utilizes blockchain technology to discount renters and lower the barriers to property investment, to add Djed, Cardano’s overcollateralized algorithmic stablecoin, as a stable form of payment.
By integrating Djed into their platform, Kirkstone’s users can use Djed and avoid the market’s volatility until the day they will need to pay rent.
Fed conference hears stablecoins may boost USD as global reserve currency
A note published by the United States Federal Reserve on a recently held conference found a majority of exports believe a U.S. dollar central bank digital currency (CBDC) would not drastically change the global currency ecosystem.
Panelists at the conference also agreed CBDC development outside of the U.S. doesn’t threaten the status of the dollar, but the development of cryptocurrencies could alter the role of the dollar globally, with some saying stablecoins could even boost the U.S. dollar’s role as the global dominant reserve currency.
Injective CosmWasm mainnet upgrade is now live
Injective has undergone a mainnet chain upgrade that includes support for CosmWasm smart contracts, interchain accounts, binary options, negative maker fees and more.
Injective’s unique implementation of CosmWasm allows smart contracts to be executed both manually by external users and automatically at every block.