FDG mainnet lauch conference was held, Patrick, was invited to share in the community
At 2 PM on September 30, 2020, the FDG mainnet launch conference was held. Patrick, the head of the Beechburg community, was invited to share in the community. Patrick said that FDG aims to create a decentralized, fair and transparent blockchain game platform. After the FDG public chain goes online, blockchain games based on FDG will have the characteristics of NFT (non-fungible Token), and NFT can connect games and the real world to form an online digital economy system for virtual goods. FDG Future Digital Games brings together top talents in the world's blockchain, games, computers, digital assets and other fields. Based on blockchain technology, it will build a collection of games, promotion, consumption, payment, and resource management. The pan-entertainment ecosystem, which is free, transparent, and decentralized as a whole, will upgrade and improve the entire industry from online to offline. FDG will also provide more powerful service functions to return the entire entertainment game ecosystem to a fair competition of innovation, experience, technology and value.
Bitfinex expands beyond crypto, launches equity derivatives that settle in Tether
Crypto exchange Bitfinex has expanded beyond the digital asset space by launching equity index derivatives that settle in Tether (USDT) stablecoin. The new derivatives — Europe 50 and Germany 30 perpetual swaps — offer exposure to traditional stock markets. Europe 50 represents the STOXX Europe 50 index covering 50 stocks from 18 European countries. Germany 30 represents the Deutscher Aktien Index (DAX) of the 30 largest German stocks that trade on the Frankfurt Stock Exchange. This is the first time a crypto exchange has launched an equity product. Bitfinex wanted to broaden the investment universe and enable crypto traders to get exposure to traditional markets on a single platform. Europe 50 and Germany 30 perpetual swaps offer up to 100x leverage. They settle in USDT and therefore helps reduce forex and interest rate risks, said Bitfinex. The new derivatives are available in select jurisdictions and only to "verified users." It means traders would be required to go through the due diligence process to verify and confirm their identity, source of funds, and banking relationships.
Uniswap becomes first DeFi protocol to hit $2 billion in total value locked
Top non-custodial exchange Uniswap has become the first decentralized finance (DeFi) protocol to cross $2 billion in total value locked (TVL). Uniswap's TVL, or the total value of all assets deposited in the protocol, stands at $2.03 billion, according to tracker DeFi Pulse. Ether (ETH), Tether (USDT), and Wrapped bitcoin (WBTC) are Uniswap's top three tokens by liquidity. Uniswap's dominance, among other DeFi protocols, is about 18%. The combined TVL of all protocols has hit more than $11 billion as the yield farming trend continues.
Over $150M Drained in KuCoin Crypto Exchange Hack
Singapore-based cryptocurrency exchange KuCoin has been hacked. In a blog post released on Friday night, the exchange disclosed that it had "detected some large withdrawals since September 26, 2020" from its hot wallet. While the exchange has not disclosed the amount lost in the hack, one of the Ethereum addresses associated with the hack shows roughly $150M in funds stolen. On Friday night, users across various social media platform platforms began to complain that they were having issues withdrawing assets from KuCoin. While the KuCoin team assured users that "funds will be safe," that no longer is the case. In a livestream, KuCoin CEO Johnny Lyu reassured his users that funds in this hack will be "covered completely by KuCoin and our insurance fund." Lyu also noted that hacked funds were only "a small part of our total assets holdings" and that KuCoin is currently working with other exchanges like Binance and Huobi and law enforcement to track down the assets.
100M people worldwide now use crypto-based assets, says Cambridge study
Skyrocketing figures show crypto’s growing global dominance. Researchers at the Cambridge Centre for Alternative Finance recently revealed that 100 million people around the world currently hold Bitcoin (BTC) and other blockchain-based assets. In 2018, the 2nd Global Cryptoasset Benchmarking Study estimated the number of identity-verified crypto users at about 35 million globally. As of Q3 2020, there are up to 191 million accounts opened at crypto exchanges — a figure which doesn’t include self-hosted wallets. The study also highlights the geolocation of consumers, as crypto firms operating from North America and Europe “report higher user activity, with the median firm indicating that 40% of total users are considered active.” According to the researchers, this figure was much lower for APAC and Latin America-based firms, which reported a rate of 16% and 10% respectively.