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Liquidity has been the backbone of DeFi (decentralized finance) since its inception. However, securing liquidity through locked capital is detrimental to DeFi in the long term. This realization acted as a catalyst behind the inception of Bera chain’ s Proof-of-Liquidity (PoL). The traditional Proof-of-Stake (PoS) mechanism has certain irreversible drawbacks. It provides an unfair advantage to network participants at the time of TGE (token generation event), laying the ground for mass sell-offs. Also, PoS leads to a reduction in liquidity for LP pools and transactions if the chain’ s security were to be improved. Since PoS chains follow a single token economic model, protocols do not have the flexibility of funding growth with their token holdings as it may lead to a slump in the token’s price. It is to tackle these challenges that Berachain leverages the PoL mechanism. ...

1. U.S. June Unadjusted Core CPI Annual Rate Announced at 3.3%, Below Expectations link The United States announced the unadjusted core CPI annual rate for June at 3.3%, slightly below the expected 3.40% and down from the previous 3.40%. The seasonally adjusted CPI monthly rate came in at -0.1%, against a forecast of 0.10% and a previous value of 0.00%. The seasonally adjusted core CPI monthly rate for June was 0.1%, compared to an expected 0.20% and the previous 0.20%. The unadjusted CPI annual rate for June was 3%, slightly below the forecast of 3.10% and down from the previous 3.30%. June’s unadjusted core CPI annual rate has fallen to its lowest level since April 2021. The seasonally adjusted core CPI monthly rate at 0.1% is the lowest since August 2021. QCP Capital noted that Thursday evening’s CPI release has garnered market attention, predicting a 70% probability of a rate cut in September. Despite continued gains in the stock market, the crypto market has yet to reflect this op...

An “airdrop hunter” secured $753,000 worth of the new ZKsync token (ZK) via 85 wallets, according to the crypto tracker Lookon chain . Lookon chain notes the trader proceeded to deposit 2.71 million ZK worth $678,000 into Binance and sold 300,000 ZK for 20 Ethereum (ETH) worth $69,000 via the decentralized exchange (DEX) SyncSwap. ZKsync is a layer-2 Ethereum scaling protocol. The project launched the ZK token’s first airdrop on Monday, with a plan to distribute 17.5% of the asset’s overall supply to 695,232 wallets. The ZKsync Association noted on Monday that more than 45% of the airdropped ZK token supply had been claimed by over 225,000 addresses in less than two hours, leading to degraded network performance. The association says two-thirds of the overall token supply will go to the community and one-third will go to the project’s team and investors. “The ZK token is a protocol token that allows token holders to introduce...

Arthur Hayes has dismissed criticism labeling meme coins as “stupid and valueless” saying these tokens can have a positive value on the block chain s they are created on. While speaking with the CEO of Real Vision, Raoul Pal, the BitMEX founder said block chain s supporting the meme coin culture would have value in the long run. Hayes opined that the recent boom in Solana was influenced by meme coins. The Solana block chain has recorded an uptick in activity after a meme coin frenzy driven by Dogwifhat (WIF), BONK, and Book of Meme ($BOME). The increased activity makes the chain attractive to block chain developers seeking to launch projects on a network that has users. “You can poo-poo these things as stupid and valueless, but if it brings attention, if it brings more engineers to the space, then it’s positive value to the chain itself,” he argued. Meme Coins Should Become More Useful and Charitable Ethereum co-founder, Vitalik Buterin, recently ...

Krissy Meehan (formerly Krissy Mashinsky) and Alex Mashinsky are well-known for their connections to the failed and allegedly fraudulent crypto lender Celsius Network. Less thoroughly investigated, however, has been their role with Strong Blockchain , a brand name used for several different products led by the pair and related to e-commerce marketplace USA Strong.  Strong Blockchain is described as a “decentralized, community-driven platform that allows users to verify the authenticity of products made in the USA.” Meehan confidently stated on X (formerly Twitter) that “The verification of Americas [sic] Supply Chain = more jobs & a stronger local economy.”  Mashinsky listed himself as chairman of USA Strong on his LinkedIn, with Strong Blockchain at one point tweeting that it was “so great full [sic]” for his leadership (it later corrected the spelling and made sure to tag him). USA Strong told Protos that “Mashinsky is not Chair...

 Binance Suspension of Multichain-Bridged Tokens Binance in its official blog announced that the affected tokens include Polkastarter (POLS) via BNB Smart Chain, Alchemy Pay (ACH) via BNB Smart Chain, Beefy.Finance (BIFI) via Fantom Network, SuperVerse (SUPER) via BNB Smart Chain, Travala (AVA) via Ethereum Network, Spell Token (SPELL) via Avalanche C-Chain, Alpaca Finance (ALPACA) via Fantom Network, and Harvest Finance (FARM) via BNB Smart Chain. advertisement Binance acknowledges the inconvenience caused and emphasizes that the suspension is a result of the ongoing issues with the Multichain protocol. Previously, deposits for multiple Multichain -bridged tokens were already suspended on May 25, 2023 after Multichain mishap. While most of the cross-chain routes of Multichain protocol are functioning well, some of the cross-chain routes are unavailable due to force majeure, and the time for service to resume is unknown. After service is restored,...

Nonfungible token marketplace NFTrade now supports cross-chain purchases on Ethereum, Polygon, Avalanche and BNB Chain. A new feature on nonfungible token marketplace NFTrade allows collectors to purchase items on one network while paying on a separate one. The feature was created through an integration with cross- chain messaging protocol Rarimo, according to a May 23 announcement. Get ready to buy NFTs with ANY crypto on any chain Want an NFT on Ethereum, but only have AVAX on Avalanche?@NFTradeOfficial's Rarimo integration makes it the FIRST-EVER marketplace to support multi-chain payments with ERC20 tokens pic.twitter.com/8cutBCtjQa — Rarimo (@Rarimo_protocol) May 23, 2023 The cross-chain purchases with NFTrade work on Ethereum, Polygon, Avalanche and BNB Chain. For example, if users want to buy an item on Avalanche, they can pay with a currency from any of the other three networks. The protocol will automatically swap the buyer’s tokens on the sending chain for the toke...