The VeChain ecosystem continues to grow and recently saw the deployment of a new decentralized exchange (DEX). Called ZumoSwap, it was designed as an alternative to Vexchange, the automated market maker (AMM), and liquidity provision protocol already launched on this network.
Related Reading | VeChain’s DEX To Launch Governance Token And Yield Farming Program
In a Medium post, the team behind ZumoSwap addressed the questions most VeChain users must be making: why launch a new DEX when Vexchange is already functional? According to ZumoSwap, there is “something that doesn’t feel right” about its competitor.
Inspired by Uniswap, the most popular DEX running on Ethereum, the team behind ZumoSwap presented data that suggest Vexchange could have higher fees for its users. Rather than the standard 0.3% fee for slippage on Uniswap, Vexchange charges around 1% which represents a significant increase when compared to the Ethereum protocol.
Therefore, ZumoSwap was created to meet users’ demand for a “native DEX” capable of providing them with a cost-efficient alternative and multiple features. The team behind the VeChain DEX claimed the following:
After careful thinking, we decide to get rid of ALL Uniswap + Web3 code and build from scratch. This is a VeChain project, not one of the Ethereum dApp.
The DEX should be able to integrate with “any wallets that VeChain provides” and operate with what the team called “one-click swap”. They claimed this will improve the DEX experience as it will remove the need for users to operate with two transactions to make a token swap.
On ZumoSwap, you only approve what you need to swap, and better yet, it is done within the same transaction you swap. No longer need to wait for two steps! Fast and secure.
The Many Features Of ZumoSwap, A Native VeChain DEX
In addition to the aforementioned features, ZumoSwap will encourage VeChain users to transact, swap their tokens and keep themselves active. These activities, the post claims, are discouraged by Ethereum and other competitors.
Thus, a protocol that was created to facilitate a transaction becomes less usable as users are priced out from the platforms. In that sense, users will “always” be able to transact with a 0.3% slippage on ZumoSwap.
The platform has integrated an “Auto VTHO Farming” feature. This will let users keep their VTHO yields and provide liquidity to the DEX by supplying VET to the pools. The team behind the project claimed there are “no additional actions required; you farm the VTHO like in your own wallet”.
This could make ZumoSwap an alternative for the users that want to generate more rewards with their VET and keep themselves active on the VeChain ecosystem. ZumoSwap will also operate with a fee delegation mechanism and will launch a ZUMO token in the future.
Congrats @zumoswap with the launch of a new DEX to swap #VeChain based tokens!
According to the team, ZumoSwap offers low cost, one-click swaps using multi-clause transactions & works on all official VeChain wallets among other features such as VTHO farming & more. https://t.co/nvw0VlChKC
— VeChain Foundation (@vechainofficial) December 23, 2021
The ZumoSwap native token and its tokenomics will be described in the future. However, the team behind the project did reveal the following about a potential airdrop:
It will be released in a similar manner of Bitcoin and details will be announced in the following articles. All Liquidity providers and traders and X Node holders will receive the airdrop.
Related Reading | VET Breaks Major Trend Line, Why VeChain Could See Massive Explosion
As of press time, VeChain (VET) trades at $0,091 with a 4.8% profit in the past day.
VET with moderate profits in the 4-hour chart. Source: VETUSDT Tradingview
Original Post: newsbtc.com
Next Earth Rises With $2.1 Million Raised From 3,100 Users
Traditional and digital asset markets alike have been rattled in recent weeks with steep downturns. But for Next Earth, this is a time of fast-paced growth.
Next Earth’s NXTT token’s presale commenced on January 22 on Next Earth’s proprietary Launchpad platform, which provided a ticket-based system that the Next Earth community preferred for the token presale, in addition to the flexibility that enabled the most efficient and equitable distribution of tokens for the economy in the long-term. DEX trading started on January 27.
In total, 3,100 users participated in the presale, raising $2.1 million. More than 400,000 non-fungible tokens (NFTs) have been minted, which will be used to reward users for creating content and engaging with the platform.
Next Earth is the Earth’s original digital replica, which recently announced that its NXTT native token which is trading on Uniswap. After the initial trading on Uniswap, the plan is to list NXTT on multiple decentralized and centralized exchanges in the near future.
Creating a more sustainable economy
The crypto crash has actually been great for Next Earth. It’s shown that there is a real need for a platform like Next Earth that provides a more equitable and sustainable economy.
10% of the value of Next Earth transactions are donated to environmental initiatives such as The Ocean Cleanup, Kiss the Ground, SEE Turtles, and Amazon Watch.
Next Earth has a strong focus on sustainability, and it’s one of the things that makes our platform so unique. We’re excited to see how the community grows and evolves, as they’re committed to doing everything they can to make sure that it’s a positive force for good.
Beyond donating proceeds, Next Earth aims to ultimately evolve into a DAO-controlled, self-sustaining economy that gives back more than it takes. A DAO, or Decentralized Autonomous Organization, is an organization that is controlled by smart contracts on the blockchain, rather than by people.
Amidst a crypto crash, the metaverse stays strong
As every crypto trader knows all too well, the price of bitcoin and other cryptocurrencies have plummeted, with some dropping by more than 50 percent. But while some investors are cashing out, others are looking to the metaverse for stability.
The metaverse is a digital world that exists online and is populated by avatars representing real people. It is often compared to virtual reality, but the two are actually quite different. VR is a closed system that can be experienced only through a headset, while the metaverse is open to anyone with an internet connection.
The metaverse has been around for over a decade, but it has only recently begun to gain mainstream attention. This is largely due to the arrival of blockchain technology, which has made it possible to create decentralized virtual worlds.
Despite the crypto crash, Next Earth is still seeing strong growth, indicating that the metaverse offers more than just token prices. In a world where prices can swing wildly from one day to the next, the metaverse provides a safe and secure space where people can come together.
So while some investors are cashing out, others are looking to the metaverse.
Photo credit: Tiny Wasteland
Apple CEO Tim Cook Said: Apple Company Sees a Lot of Potential in the Metaverse
Apple (NASDAQ: AAPL) CEO Tim Cook addressed the idea of the “metaverse.” In response to a question from Morgan Stanley (NYSE: MS) analyst Katy Huberty, Cook explained that Apple sees a “lot of potential in this space.”
Tim Cook said that the company sees a lot of potential in the metaverse, which he related to the company’s current AR/VR endeavors, and added that the company is investing in the space.
Leaks and rumors point to Apple taking on a major role in the virtual reality future …
Original Source: benzinga.com
Nike Is Hiring a Metaverse Director
Nike (NYSE: NKE) is looking to enter the metaverse with new hires after Apple investing in Metaverse. It looks as though Nike is preparing to enter the metaverse, as the fashion giant is looking to hire a director of metaverse engineering.
Nike’s Technology Innovation Office (TIO) will “unleash the power of technology, innovation, and talent to deliver ground-breaking technology innovation products and services.”
The director of metaverse engineering will “lead the development of rapid end-to-end …
Original Article: benzinga.com
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