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Conflux Network Phase III — Tethys Officially Launches

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Tethys

Conflux Network mainnet launch was different from orthodox mainnet of other blockchain projects. The mainnet launch was set up in three phases; namely Pontus, Oceanus, and Tethys. The launch of Tethys — our final phase — marks a significant moment for all applications on the network.

In the first phase – Pontus launched Conflux DEX Ecosystem — the first step towards a more secure, stable, and easier-to-use framework for DEXes. The Conflux Foundation supports the development and maintenance of the three basic features of the DEX ecosystem:

  1. Cross-Chain Asset Protocol — ShuttleFlow
  2. Dual Protocol: On-Chain Settlements — BoomFlow & Off-Chain Matching — MatchFlow
  3. Value-Added Services such as Flash Swap and Price Limit services

Conflux also launched five global Pioneer initiatives at this stage with the aim to further expand our influence outside of the traditional crypto community. 

In the second phase – Oceanus: we focused on mining and the PoW algorithm. In the first half of this phase, we organized several mining campaigns, from mid-scale (hundreds of participants) to large-scale (thousands of participants), to further verify the stability of the network. Conflux organized a total of 14 mining activities with over 5000 participants in the process of decentralizing and stabilizing the Conflux Network.

ConfluxConflux Network became the third-largest decentralized network in the world with 4800+ network nodes reached during Conflux Oceanus. We also launched and concluded our first grants program. More than 50 teams, projects, or individuals applied for the grants, and 5 excellent projects were ultimately selected (Bitquery, Decentology, Certik, Fullet, Mixpay, Simpli Defi, Superfluid) who would be issued approximately $300k in Conflux token (CFX). Conflux network is also one of the initiators of Open Defi Initiative, which includes well-known Defi projects like Aave, DyDx, Balancer among others.

In the third and final mainnet phase – Conflux Tethys, there will be a 1:1 swap of FC’s to CFX. FanCoin (FC) is the official pre-mainnet token of Conflux Network, led and issued by the Conflux Foundation. Conflux Foundation utilized the FC token to fully mobilize the power of the community as well as provide early-access experiences for Conflux products. FC’s-USDT is tradeable on Moondex, while CFX- USDT trades will start and CFX can be used across all Defi products on Conflux Network. Instructions on how to convert previously held FC’s to  CFX will be announced, to get regular updates about CFX join our Telegram and Twitter channels.

Right now, there are 17 assets mapped onto our DEX ecosystem, a few of them include BTC, USDT, ETH, DAI, COMP, DF, KNC of which three (BTC, USDT, ETH) already trade on MoonDEX. 

Conflux Network would be launching its first virtual hackathon to celebrate the final stage of the main-net launch, along with two of our reputable partners (Aave and Chainlink).

Conflux Network set base in the African market now for about nine months. So far we have realized that one of the major use cases of cryptocurrency in Africa to date is remittance. A recent report from the World Bank revealed that the global average cost of sending $200 remains as high as 6.8% in 2020. Cryptocurrency and stablecoins bring an alternative for Africans, where transaction costs can be as little as $5 to move over $10,000 worth of Bitcoins. Africa continues to have the highest average cost of remittance at about 9 percent. This is why we have had some of our African community members reaching out to ask if CFX would be able to bridge the gap between several African currencies and the Chinese Yuan. Our partnership with Fliqpay is a very strategic one as we are working towards achieving this goal.

Besides reaching out to traditional crypto communities, we have on-going activities targeting non-crypto individuals, some of which include:  

  • Trade-in FCs for Jumia voucher: This is the first of its kind in the crypto space. It came as a result of a use case for FC’s. It has been received well and so far we’ve had great responses to the initiative.
  • FPL League sponsorship: We at Conflux Network are keen on setting our mark and being different from other blockchain projects. That’s why we partnered with Quidax, one of the biggest exchanges and 352ng a sport media, in sponsoring a fantasy premier league tournament in Africa. The league has close to 2000 people participating in it.
  • Instalive Webinars: We also started the bi-weekly Instalive webinars where we invited key opinion leaders as guests to speak on different blockchain and defi topics. 

The launch of Conflux Tethys is not the end, but the beginning of a great new journey. The team will continue to provide technical guarantee and support for the Conflux Network for a period of time before it is finally delivered to the community.

Currently, there are over 17 assets mapped and can be found on Moonswap.io or Shuttleflow.io, we hope that the Conflux Network can leave a wonderful legacy in the history of the rapidly iterating blockchain industry.

Disclaimer: This is a sponsored post. Readers should do their own due diligence before taking any actions related to any company, product, or service mentioned in this article. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product, or service mentioned in this post. 

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Conflux Launches Conflux Africa Leadership Scheme (CAL)

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Conflux Africa Leadership Scheme

Conflux is a state-of-the-art public blockchain system that can achieve high Transactions per Second (TPS) without compromising decentralization. This system originated from the research lab of Dr. Andrew Yao; a recipient of the Turing Award 2000.

The Conflux system adopts the Tree-Graph consensus mechanism to break the limitation of the current blockchain system by achieving over 3500 TPS in contrast to the existing 30 TPS rate limit. With the Tree-Graph approach, security, scalability, and decentralization are fully optimized.

ConfluxIn 2018, the Conflux Foundation was formed based on the breakthrough of this consensus mechanism, and a regulatory compliant fundraise was completed to build an open infrastructure. It is the only state-endorsed public, permissionless blockchain in China.

Through the Tree-Graph Research Institute, Conflux is advancing education and research in blockchain development. It does this in partnership with the government of Shanghai and the Key Laboratory of Blockchain Infrastructure & Applications, with the government of Hunan.

Conflux aims at bridging Asian and Western communities and economies, to enable the secure flow of assets and data across borders, protocols & applications. The Conflux protocol is fast, scalable, solidity compatible with zero congestions and low fees.

With its headquarters in Beijing China, Conflux has expanded its global operations with a diverse distributed team across four continents, with additional offices in Toronto, Canada, and Lagos, Nigeria.

In 2019, Conflux Network set base in Africa and has since been able to secure some reputable partnerships, building a community of over 5000 people in Nigeria and a few other African countries.

Taking a step further, Conflux Network is looking at getting African leaders in Kenya, Ghana, and South Africa. In achieving this goal, Conflux Africa is interested in people with little knowledge in the following areas: Brand Ambassadors, Developers, Crypto traders, experienced meetup organizers, and community builders.

Conflux Africa Leaders (CAL) would be entrusted with the responsibilities of engaging, educating, and empowering people. Conflux will also bear the cost incurred by each CAL while performing their tasks.

Conflux Africa Leaders will be rewarded for their work based on performance. In addition, a clear job description and key performance indicators will be set for all CAL’s. They will be rewarded with the Conflux native token which is currently trading on top exchanges like Binance, OKEx, CITEX, BitAsset, BKEX, MXC, and Gate.io.

Conflux is open to teaching young developers who intend to learn how to develop blockchain solutions in the upcoming summer User-Managed Access (UMA) initiative.

Click here to become a Conflux Africa Lead today.

Disclaimer: This is a sponsored post. Readers should do their own due diligence before taking any actions related to any company, product, or service mentioned in this article. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product, or service mentioned in this post. 

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Bitzlato & Lemonade Finance: The Easiest Way to Buy Bitcoin in Nigeria

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Buy Bitcoin With Ease and Without Fees Using Bitzlato & Lemonade Finance

Bitzlato, the latest P2P Crypto Exchange to enter the African market, has added Lemonade.Finance, a borderless platform for Africa, as a payment method to its platform.

BitzlatoLemonade Finance provides a 100% digital payment experience for Africans to participate in the global economy from anywhere in the world without any hassle or regardless of where they are from.

The partnership will enable users on the Bitzlato (BZ) platform to buy and sell bitcoin and other cryptocurrencies on the marketplace at zero cost.

During the first month, Bitzlato will refund commissions in manual mode while using Lemonade Finance, but this will be automated at the end of this period. 

But that’s not all! Users in Nigeria will now also be able to send Nigerian Naira (NGN) to MPESA at a 0% transaction fee.

International Money Transfers at Zero Costs

In addition to using Lemonade Finance on Bitzlato, the new partnership allows Nigerians to send fiat funds to Kenya, Ghana, and other countries with 0% transaction fees!

And Yes! This includes direct transactions from Lemonade to Mpesa!

You can find a «Lemonade to Mpesa» payment method in Electronic Payment for trades with Kenyan shilling (KES)! 

 

Speaking about the new partnership, Ridwan Olarere, CEO, Lemonade Finance, said:

“We are excited to partner with such an innovative company like Bitzlato to connect more Africans through payment. Many Africans living on the continent face many difficulties when making payments as remittance companies charge high fees and are time-consuming. We are now providing our users with a cost-effective way of sending money to Ghana, Kenya, the UK, and Europe.”

Commenting on the opportunities this provides to crypto traders on the BZ platform, Mike Lunov, CEO, BZ, said:

“This partnership will provide a much-needed gateway that enables the markets we serve to seamlessly interact with each other in a borderless and open environment. We seek to break the barriers that presently exist for cross-border transfers and enable our users to generate value through the opportunities that accrue from cryptocurrency trading. The innovation exhibited by the Lemonade platform, and the brilliance of its team assures users of top-notch, secure, and reliable transfers going forward.”

Following this partnership, Bitzlato is now looking to partner with merchants in the crypto space, especially in Nigeria, Ghana, South Africa that have a steady flow of Nigerian Naira (NGN) to increase liquidity on the platform.

Take advantage of the new Lemonade Finance payment method on Bitzlato, which offers zero transactional fees for money transfers from Nigeria into Kenya, sign up to Bitzlato and start trading crypto today.

Disclaimer: This is a sponsored post. Readers should do their own due diligence before taking any actions related to any company, product, or service mentioned in this article. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product, or service mentioned in this post. 

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Mark Carnegie’s Crypto Fund Eyes Massive Returns

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Mark Carnegie, the world-renowned Venture Capital Investor and entrepreneur hailing from Australia, plans to launch an unlisted cryptocurrency fund. Mr. Carnegie’s MHC Fund will use a bold combination of complex DeFi (Decentralised Finance) and Crypto-Trading strategies to generate a 30 per cent annual return for investors.

Mark CarnegieFrom his holiday home in Madagascar, Mr. Carnegie, expressing his views with his characteristic wit and energy, repeated prior ideas that investors should allocate 1 to 2 per cent of their net worth to crypto as a hedge against inflation risks:

“The money printing is a risk and you’ve got to think what you’re going to do to protect yourself against it. Now, with Australia the general solution is buy a house. The problem about that is you forgo a tonne of liquidity if that’s your only solution,” he said.  

Mr. Carnegie, who regrets not recognizing the potential of DeFi and crypto earlier in his career, has joined forces with Russian-born Sergei Sergienko – a star in crypto, blockchain, and fintech circles – to launch the MHC Digital Asset Fund, which is designed for sophisticated investors, with a minimum investment floor of 50,000$.

The MHC Fund will invest 45 to 75 percent of its assets in cryptocurrencies with a market cap of at least 1 billion USD (1.3 Billion AUD), such as Bitcoin and Ether. In addition, the fund will invest 30 to 60 percent of its assets into stablecoin denominated DeFi strategies.

Mr. Carnegie is energetically moving forward with a prototype fund involving a few private investors who, along with Mr. Sergienko, have put some money down to successfully launch and trade it.

Sergey Sergienko“Sergei’s got a whole lot of what I call proprietary alpha in that he knows a lot more people that are real in this community,” Mr. Carnegie said. “He’s proven and therefore access to his proprietary deal flow allows you, for not a huge amount of capital exposed, to get a disproportionate upside in some of those things. 

“So we think we can put together a portfolio. It’s not going to get all the upside of the crypto market, but it’s going to take some sting out of the downside.” 

One characteristic DeFi strategy the fund will take advantage of is known as “Staking”. Staking allows market participants to make assets available on a specific blockchain network in exchange for a yield.

“We also think we’re going to be able to make intelligent asymmetric bets in the options market,” said Mr. Carnegie. “We aren’t a typical investor in this space in that we’re prepared to trade away some of the upside [to target the 30 per cent return].”

Crypto-savvy Sergey Sergienko has made quite a name for himself in Russia as a millionaire crypto trader and audacious user of the Clubhouse application. During the last decade, he has spent a fair amount of time travelling between bitcoin mining sites in abandoned Siberian factories – taking advantage of abundant and cheap electricity – and his home in Paddington, Sydney.

“We use automatic market makers and the discrepancies in returns in stable coins to produce a greater return for the fund,” Mr. Sergienko said. 

“Effectively, we’re providing liquidity to automatic market makers on DeFi market protocols and receive commission from the trades executed on those protocols. We do it on different blockchains, thereby also taking advantage of different pricing for commission on different blockchains.” 

The MHC fund is designed to capture the upside from the rise in Bitcoin. However, Mr. Carnegie believes the leading cryptocurrency is less sophisticated compared to the ethereum blockchain’s world-changing potential to contribute to the vision of a more libertarian world enlightened by decentralised finance.

“It’s hard, hard, hard to understand it [DeFi] and turn it into a language for people from the outside,” he said. “The reason I’m doing this rather than HODL, which is buy bitcoin and hold on for dear life, is it’s just for me a weak part of your investment thesis, the strongest is proper DeFi and proper smart contracts.” 

Ethereum, dubbed the World Computer, is an open-source blockchain platform. Value is transferred across this platform thanks to a cryptocurrency called Ether.

Ether is also used to pay for transactions on the network. Ethereum powered smart contracts allow, among other things, the use of digital escrow accounts to ensure tradies receive payment when a job is completed.

“I thought ether was going to outperform bitcoin and everything else. So the bitcoin people have done better than me,” Mr. Carnegie said. “But I thought it was better to try and put together a more complicated portfolio with Sergei because this thing is so dynamic. All the success in DeFi is going to pull bitcoin higher with it.”

Disclaimer: This is a sponsored post. Readers should do their own due diligence before taking any actions related to any company, product, or service mentioned in this article. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product, or service mentioned in this post. 

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