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I recently spoke with Lingo Co-Founder & CEO, HM Rawat, about the potential impact of Web3 on community empowerment. In our conversation, we also touched on the uniqueness of Web3 rewards, its challenges, and how a novel approach could shape the industry. I hope you find the discussion insightful. Tell us a bit about yourself and how you got into Web3. From selling MP3 CDs at school to exiting Mauritius’s fastest-growing Subway franchisee chain of 12+ restaurants, I’ve been an entrepreneur all my life. Heading marketing and sales at HMRawat Communications, our family business, was a milestone in my journey. During my time there, we secured over 80% of Mauritius’s mobile phone market share and achieved a 300x YoY revenue growth for the Madagascar unit. The Seychelles unit also saw a 1500x growth. Now, I’m applying all the lessons I learned over 30 years to build and scale Lingo. It’ll help fill Web3’s marketing gaps—the reason I entered this space. While the underlying tech is growing 2x faster than the Internet in the 90s, it’s not transforming as many lives as it can. Loyalty schemes feature heavily in Web2’s attract-extract models. How are Web3 rewards different? The global loyalty management market was roughly $10.5 billion in 2023. It’ll possibly grow at over 9% till 2030. But consumers will only get a tiny share of this revenue, as usual. Web2 loyalty schemes are extractive because they work within walled gardens owned and controlled by centralized entities. Consumers mostly receive points or token money that have limited redeemability. You can use them at partner stores only, for example. Web3 rewards, on the contrary, can put real value in the consumer’s hands. Consumers can trade loyalty tokens in secondary markets or exchange them with their friends. That’s the power of interoperability. Plus, on-chain revenue models are usually transparent and verifiable, enhancing accountability. Have Web3 rewards evolved fully? If not, what are its main challenges? No. Lingo will take Web3 rewards over the line but there’s still a long way to go. Inferior design and sub-par incentives are the main problems. The inability to sustain rewards and engage communities long-term is a key reason why over 72% of projects from the 2020-2021 bull market have died. Web3 projects typically have Ponzinomics for economic models. They constantly need to onboard new users to maintain rewards, etc. This is very dangerous in volatile, cyclical markets like crypto. It’s also unsustainable. Moreover, Web3 rewards don’t have enough real-world utility yet. They’re even inferior to centralized Web2 rewards in some ways. Meaning, communities don’t have the incentives to stay loyal long-term. Speculation and frothy practices are more prevalent instead. How does Lingo solve these problems? What’s unique about its approach? We’re solving the root cause, i.e., Ponzinomics. The lack of intrinsic value and solid foundations fuel the problems we discussed so far. Lingo fixes that. We’ve developed a new model that’ll generate tangible community rewards using Real World Assets (RWAs). The algorithm supporting Lingo’s circular economy invests transaction fees into high-performing RWAs and the returns go to the rewards pool. It ensures compound growth. Consumers will earn $LINGO tokens that they can redeem for real-world rewards by staking, etc. This system works irrespective of market conditions, making it robust and sustainable. We’re already seeing strong support for our vision and novel approach. Over 140K consumers have joined the waitlist. Our Twitter and Discord communities have 84,000+ and 50,000+ members respectively. We have 100+ brand ambassadors and raised over $5 million via private rounds. What’s in it for the community? How will Lingo change the experiences of end-users? Lingo users get passive, risk-minimized access to the RWA industry, which is expected to cross $16 trillion by 2030. Early adopters will further reap the benefits accruing from our first mover’s advantage. Consumers can access Web3’s largest rewards ecosystem with Lingo. This means special benefits at 3000+ brands like Nike, IKEA, Spotify, Uber, Netflix, and more. Our solutions will be available in 80+ countries, powered by Fizen and our 100,000+ hotel network. I’ve spent 12+ years building solutions and services for global consumers. Our Co-Founder, David Amsellem, built John Paul — the world’s top premium loyalty program that Accor Hotels acquired for $150 million in 2016. Over the years, we’ve both learned the importance of ensuring top-notch user experiences. That’s our priority at Lingo. Plus an awesome team of blockchain researchers, developers, and advisors is helping us turn vision into reality. We’ll unleash next-gen Web3 incentives. Community members will be the biggest beneficiaries here — it’ll be a win-win for consumers and partner brands. And finally, distributed governance gives users a meaningful say in the platform’s policies and financial models. We welcome anyone who’s ready to surf the tide. I recently spoke with Lingo Co-Founder & CEO, HM Rawat , about the potential impact of Web3 on community empowerment. In our conversation, we also touched on the uniqueness of Web3 rewards, its challenges, and how a novel approach could shape the industry. I hope you find the discussion insightful. Lingo HM Rawat Tell us a bit about yourself and how you got into Web3. Tell us a bit about yourself and how you got into Web3. From selling MP3 CDs at school to exiting Mauritius’s fastest-growing Subway franchisee chain of 12+ restaurants, I’ve been an entrepreneur all my life. Heading marketing and sales at HMRawat Communications, our family business, was a milestone in my journey. During my time there, we secured over 80% of Mauritius’s mobile phone market share and achieved a 300x YoY revenue growth for the Madagascar unit. The Seychelles unit also saw a 1500x growth. Now, I’m applying all the lessons I learned over 30 years to build and scale Lingo. It’ll help fill Web3’s marketing gaps—the reason I entered this space. While the underlying tech is growing 2x faster than the Internet in the 90s, it’s not transforming as many lives as it can. Loyalty schemes feature heavily in Web2’s attract-extract models. How are Web3 rewards different? Loyalty schemes feature heavily in Web2’s attract-extract models. How are Web3 rewards different? The global loyalty management market was roughly $10.5 billion in 2023. It’ll possibly grow at over 9% till 2030. But consumers will only get a tiny share of this revenue, as usual. roughly $10.5 billion roughly $10.5 billion Web2 loyalty schemes are extractive because they work within walled gardens owned and controlled by centralized entities. Consumers mostly receive points or token money that have limited redeemability. You can use them at partner stores only, for example. Web3 rewards, on the contrary, can put real value in the consumer’s hands. Consumers can trade loyalty tokens in secondary markets or exchange them with their friends. That’s the power of interoperability. Plus, on-chain revenue models are usually transparent and verifiable, enhancing accountability. Have Web3 rewards evolved fully? If not, what are its main challenges? Have Web3 rewards evolved fully? If not, what are its main challenges? No. Lingo will take Web3 rewards over the line but there’s still a long way to go. Inferior design and sub-par incentives are the main problems. The inability to sustain rewards and engage communities long-term is a key reason why over 72% of projects from the 2020-2021 bull market have died. 72% of projects 72% of projects Web3 projects typically have Ponzinomics for economic models. They constantly need to onboard new users to maintain rewards, etc. This is very dangerous in volatile, cyclical markets like crypto. It’s also unsustainable. Moreover, Web3 rewards don’t have enough real-world utility yet. They’re even inferior to centralized Web2 rewards in some ways. Meaning, communities don’t have the incentives to stay loyal long-term. Speculation and frothy practices are more prevalent instead. How does Lingo solve these problems? What’s unique about its approach? How does Lingo solve these problems? What’s unique about its approach? We’re solving the root cause, i.e., Ponzinomics. The lack of intrinsic value and solid foundations fuel the problems we discussed so far. Lingo fixes that. We’ve developed a new model that’ll generate tangible community rewards using Real World Assets (RWAs). The algorithm supporting Lingo’s circular economy invests transaction fees into high-performing RWAs and the returns go to the rewards pool. It ensures compound growth. Consumers will earn $LINGO tokens that they can redeem for real-world rewards by staking, etc. This system works irrespective of market conditions, making it robust and sustainable. We’re already seeing strong support for our vision and novel approach. Over 140K consumers have joined the waitlist. Our Twitter and Discord communities have 84,000+ and 50,000+ members respectively. We have 100+ brand ambassadors and raised over $5 million via private rounds. What’s in it for the community? How will Lingo change the experiences of end-users? What’s in it for the community? How will Lingo change the experiences of end-users? Lingo users get passive, risk-minimized access to the RWA industry, which is expected to cross $16 trillion by 2030 . Early adopters will further reap the benefits accruing from our first mover’s advantage. $16 trillion by 2030 $16 trillion by 2030 Consumers can access Web3’s largest rewards ecosystem with Lingo. This means special benefits at 3000+ brands like Nike, IKEA, Spotify, Uber, Netflix, and more. Our solutions will be available in 80+ countries, powered by Fizen and our 100,000+ hotel network. Fizen Fizen I’ve spent 12+ years building solutions and services for global consumers. Our Co-Founder, David Amsellem, built John Paul — the world’s top premium loyalty program that Accor Hotels acquired for $150 million in 2016. Over the years, we’ve both learned the importance of ensuring top-notch user experiences. That’s our priority at Lingo. Plus an awesome team of blockchain researchers, developers, and advisors is helping us turn vision into reality. We’ll unleash next-gen Web3 incentives. Community members will be the biggest beneficiaries here — it’ll be a win-win for consumers and partner brands. And finally, distributed governance gives users a meaningful say in the platform’s policies and financial models. We welcome anyone who’s ready to surf the tide.

Connecting Web3 Rewards To Real-World Assets - A Discussion With HM Rawat

**SINGAPORE, Singapore, March 13th, 2024/Chainwire/--**SynFutures is a leading decentralized derivatives exchange, today announced the Trading Grand Prix (TGP) Competition, setting a new record with the largest stablecoin prize pool ever offered in decentralized finance (DeFi) history. With 500,000 USDB in rewards, the competition marks a monumental milestone following the launch of SynFutures V3 on Blast, which garnered over 300,000 registrations and more than $24M in TVL in just one week. The TGP is designed to spotlight SynFutures’ new Oyster AMM (oAMM), a fusion of automated market-making with an onchain order book model, setting a new benchmark for capital efficiency in DeFi. Historically, the gap between DeFi and CeFi has been pronounced, with the latter often outpacing in efficiency and user experience. Powered by the novel oAMM, SynFutures V3 bridges this divide, heralding a new era where DeFi can compete head-on with its centralized counterparts. An Eight-Week Marathon of Skill and Strategy. Beginning March 12, 2024, and ending May 7, 2024, the competition invites all traders to navigate the volatile seas of decentralized perps trading, leveraging SynFutures’ unmatched efficiency to secure their spot among the legends of the trade. Each tournament stands alone, offering fresh chances to win weekly USDB prizes, with up to 10,000 USDB awarded to the top trader. TGP also features a Masters Tournament, drawing in luminaries from the DeFi community and leading firms. Particpants include @jandx_, @RoofHanzo, @CMSholdings, @Awawat_Trades, @CL207, @keyboardmonkey3, @mattomattik, @nanixbt, @izebel_eth, @_jaechung, @cryptoethan, and @ResearchKronos. This elite gathering underscores the competition's significance, providing an onchain stage for the best to showcase their strategies under the most dynamic of market conditions. Rachel Lin, Co-founder and CEO of SynFutures, reflected on the inception of the trading competition. "Having seen so much success with our V3 launch on Blast, we wanted to celebrate this milestone by doing something unprecedented in DeFi. The Grand Prix isn't just a competition; it's a testament to our belief that DeFi can offer a trading experience as rich, if not richer, than CeFi. This competition invites the trading community to experience our new platform's capabilities firsthand." As the Grand Prix beckons, all traders are invited to partake in this historic event, vying for a piece of the half-million USDB prize pool. It's more than a competition; it celebrates strides toward a decentralized future, underscored by SynFutures' unwavering commitment to innovation, efficiency, and community. In addition to the TGP, users on SynFutures can earn up to 3x the rewards potential through the Expanded Oyster Odyssey (OO) program. Traders and liquidity providers will be rewarded with Blast, Blast Gold (Big Bang developer airdrop allocation), and OO points. A breakdown of the rewards distribution can be found . here Users can visit the for more information on , leaderboard updates, and registration details. SynFutures blog The Grand Prix Trading Competition About SynFutures SynFutures is a decentralized perpetual futures protocol that facilitates open and transparent trading on any assets and listings instantly. The V3 Oyster AMM launched the industry's first-ever unified AMM and onchain order book model. Backers include Tier 1 Web3 institutional investors Pantera Capital, Polychain Capital, Susquehanna International Group (SIG), Dragonfly Capital, Standard Crypto, and Framework Ventures, and the team has extensive experience at global financial institutions, fintech companies and blockchain technology companies such as Alipay, Bitmain, Credit Suisse, Deutsche Bank, Matrixport, and Nomura Securities.  Learn more: | | | | | | Website YouTube X Discord Telegram Github Press Kit Contacts CMO Mark Lee SynFutures mark.lee@synfutures.com Head of Content Greer Rodriguez SynFutures greer.rodriguez@synfutures.com This story was distributed as a release by Chainwire under HackerNoon’s Business Blogging Program. Learn more about the program here.

SynFutures Launches 500,000 USDB DeFi Trading Competition Following V3 Launch

Introduction Making the cluster highly available and minimizing downtime is fundamental for any modern service. In the context of , achieving high availability involves the deployment and distribution of resources across various levels within the infrastructure: Azure Kubernetes Service Regions. Creating multiple clusters in different Azure regions is the most expensive yet reliable option. Zones. Availability zones can be used to improve single-cluster availability. Nodes. At this level, we can distribute workload between virtual machines. In this article, I’m going to focus on zone resiliency. In Azure Kubernetes Service (AKS), zone resiliency plays a crucial role when we need to achieve high availability of applications. Before diving deeper into networking and storage aspects of AKS zone resiliency, I’d like to touch upon some common terminology. Availability zone I could invent my definition here, but in fact, availability zones are best described in the Microsoft documentation: Azure availability zones are physically and logically separated datacenters with their own independent power source, network, and cooling. Connected with an extremely low-latency network, they become a building block to delivering high availability applications. Availability zones ensure that if there's an event impacting a datacenter site—for example, if someone cuts the power, or there are issues with cooling—your data will be protected. In short, availability zones operate independently, ensuring that a failure in one zone does not affect the others. Such isolation significantly enhances fault tolerance and application availability. Not all regions have the same number of availability zones: while most have three zones, some have two or even one. Control plane A Kubernetes cluster consists of two main parts—the control plane and the nodes. Both components can use multi-zone availability. The control plane is automatically distributed among zones. I found two different statements in Azure documentation on how this distribution works: It’s distributed between all available regions. It’s distributed between zones you have nodes in. From a practical point of view, these approaches have no big difference because, normally, we will have nodes in all the zones. Node pools We can specify zone parameters when creating a Kubernetes cluster. This would affect the system node pool only. az aks create … --zones You need to specify zone parameters for every zone you create. az aks nodepool add … --zones The most obvious option is always to select all three zones for each node pool. It works fine in most cases, but some limitations related to networking and storage may arise. Let’s take a closer look at each type of limitation. Zones and networking Let’s say one of our pods needs access to the internet. There are several ways we can configure outbound networking in AKS: Load Balancer NAT Gateway User Defined Routing The last option can be implemented in several different ways: you can route your traffic to that would be zone-redundant, or you can route your traffic to a single VM that wouldn’t be zone-redundant. We’re not going to cover all possible options in this article. Azure Firewall Using multiple zones per node pool works fine with the Load Balancer option because Azure Load Balancer is a zone-redundant resource. Yet, it doesn’t work that well with the NAT gateway. Virtual network in Azure is zone agnostic, meaning that it exists in each zone, and it’s safe to use one virtual network (or virtual network subnet) in multizone scenarios. However, the NAT gateway is always deployed in one zone, meaning that even if nodes are distributed among the zones, they are still connected to a single virtual network subnet and a NAT in a single zone. Unfortunately, it’s not possible to connect multiple NATs to one subnet. to overcome this limitation is to create three node pools instead of one and assign one node pool to one zone. The solution In this configuration, you must connect each node pool to a separate virtual network subnet. The configuration with NAT is more complicated, so there should be a solid reason to choose it. To understand why it can be beneficial to use a NAT gateway, we need to dive deeper into the outbound traffic architecture in Azure. According to Azure , there are four outbound traffic options. documentation Here, we can see that the load balancer is production-grade; however, NAT is the best. The reason for that is very well described in the section of Azure documentation titled And below. What are SNAT ports? In brief, when you have only a small subset of nodes that actively use outbound connectivity, you can face port , meaning that new outbound connections will fail. For example, you have a pod with a replication factor of 5 and 120 nodes in a cluster. Each pod replica can open about 500 connections to the database simultaneously. All other pods in a cluster don’t actively use outbound connectivity, and we have only one IP address assigned to a load balancer. exhaustion In this configuration, each node could create only 256 connections to the same destination IP and port because all the ports have been statically allocated among all the nodes. So, only 256 connections out of the required 500 would be opened. The exact configuration with the NAT gateway will be able to establish all necessary connections because the port would be allocated dynamically based on actual demand. One IP address gives us 64000 ports, and the demand is 500*5=2500, which is more than enough. This can be a problem even for relatively small but highly loaded clusters. For a cluster with 1 to 50 nodes, only 1024 ports would be allocated to each node. Of course, if all the pods and nodes use outbound connectivity in the same way, static distribution is not an issue, and you need to add more public IP addresses to the load balancer or NAT. Here is the full PowerShell script to create the described configuration: # Variables
$RESOURCE_GROUP="dt-test-cluster"
$LOCATION="westus2"
$VNET_NAME="dt-vnet"
$SUBNET1_NAME="dt-subnet1"
$SUBNET2_NAME="dt-subnet2"
$NAT_GW1_NAME="dt-natgw1"
$NAT_GW2_NAME="dt-natgw2"
$PIP1_NAME="dt-pip-natgw1"
$PIP2_NAME="dt-pip-natgw2"
$AKS_CLUSTER_NAME="dt-aks-cluster"
$NODE_POOL1_NAME="dtnodepool1"
$NODE_POOL2_NAME="dtnodepool2"

# Create Resource Group
az group create --name $RESOURCE_GROUP --location $LOCATION

# Create Virtual Network and Adjusted Subnets
az network vnet create --resource-group $RESOURCE_GROUP --name $VNET_NAME --address-prefixes 10.1.0.0/16 --subnet-name $SUBNET1_NAME --subnet-prefix 10.1.2.0/24
az network vnet subnet create --resource-group $RESOURCE_GROUP --vnet-name $VNET_NAME --name $SUBNET2_NAME --address-prefix 10.1.3.0/24

# Create Public IPs for NAT Gateways
$publicIP1 = az network public-ip create --resource-group $RESOURCE_GROUP --name $PIP1_NAME --location $LOCATION --sku Standard --zone 1 --query publicIp.id --output tsv
$publicIP2 = az network public-ip create --resource-group $RESOURCE_GROUP --name $PIP2_NAME --location $LOCATION --sku Standard --zone 2 --query publicIp.id --output tsv

# Create NAT Gateways in different zones and associate them with the subnets
az network nat gateway create --resource-group $RESOURCE_GROUP --name $NAT_GW1_NAME --location $LOCATION --zone 1 --public-ip-addresses $publicIP1
az network nat gateway create --resource-group $RESOURCE_GROUP --name $NAT_GW2_NAME --location $LOCATION --zone 2 --public-ip-addresses $publicIP2
az network vnet subnet update --resource-group $RESOURCE_GROUP --vnet-name $VNET_NAME --name $SUBNET1_NAME --nat-gateway $NAT_GW1_NAME
az network vnet subnet update --resource-group $RESOURCE_GROUP --vnet-name $VNET_NAME --name $SUBNET2_NAME --nat-gateway $NAT_GW2_NAME

# Create AKS Cluster with two node pools in different zones and assign subnets
$subnet1Id = "/subscriptions/$(az account show --query id --output tsv)/resourceGroups/$RESOURCE_GROUP/providers/Microsoft.Network/virtualNetworks/$VNET_NAME/subnets/$SUBNET1_NAME"
$subnet2Id = "/subscriptions/$(az account show --query id --output tsv)/resourceGroups/$RESOURCE_GROUP/providers/Microsoft.Network/virtualNetworks/$VNET_NAME/subnets/$SUBNET2_NAME"

az aks create --resource-group $RESOURCE_GROUP --name $AKS_CLUSTER_NAME --node-count 1 --enable-addons monitoring --generate-ssh-keys --nodepool-name $NODE_POOL1_NAME --vnet-subnet-id $subnet1Id --zones 1 --outbound-type userAssignedNATGateway
az aks nodepool add --resource-group $RESOURCE_GROUP --cluster-name $AKS_CLUSTER_NAME --name $NODE_POOL2_NAME --node-count 1 --vnet-subnet-id $subnet2Id --zones 2 Please note that this script is not production-ready because only the parameters related to the outbound networking were configured. Once the configuration is created, you can test it with the following commands: az aks get-credentials --resource-group dt-test-cluster --name dt-aks-cluster
kubectl run ubuntu --image=ubuntu -- sleep infinity
kubectl run ubuntu --image=ubuntu2 -- sleep infinity Then, log in to both of the images with: kubectl exec -it ubuntu -- /bin/sh And run apt-get update
apt-get install -y curl
curl http://httpbin.org/ip As we have two node pools and don’t have an affinity, the scheduler will distribute pods between different node pools. So, the first curl should give you one of the public IPs and the second — another IP. Zones and storage Another potential pitfall is storage. The most common and convenient way to persist data in Kubernetes is to use a storage class and persistent volume claim. In Azure, several built-in storage classes, such as Azure Files or , support network remote storage. In addition, several storage classes support the so-called Managed Drive, which can be treated as VM’s local drive. Azure Blob Storage Let’s say we created a persistent volume claim (PVC) on the Azure default storage classes: .
We can use the following command to understand what Azure storage we actually use: managed-csi-premium kubectl describe sc managed-csi-premium
Name:              	managed-csi-premium
IsDefaultClass:    	No
Annotations:       	<none>
Provisioner:       	disk.csi.azure.com
Parameters:        	skuname=Premium_LRS
AllowVolumeExpansion:  True
MountOptions:      	<none>
ReclaimPolicy:     	Delete
VolumeBindingMode: 	WaitForFirstConsumer
Events:            	<none> This class connects Managed Drive to a node VM. We can understand this because provisioner is used. The storage is . This disk has local redundancy, meaning your data is stored only in one region. disk.csi.azure.com Premium_LRS Let’s imagine that something happened to VMs in Zone 1, but the storage in Zone 1 is unaffected. In this case, we will also lose access to the data because cross-zone disc connections are not supported in Azure. The best approach to avoid such an issue is to use ZRS or zone redundant storage. For this type of storage, Azure synchronously replicates every write operation across all the zones, so we always have three up-to-date replicas. There is no such storage class by default, so we need to create one. kind: StorageClass
apiVersion: storage.k8s.io/v1
metadata:
name: test-for-article
provisioner: disk.csi.azure.com
parameters:
skuname: Premium_ZRS
allowVolumeExpansion: true
reclaimPolicy: Delete
volumeBindingMode: WaitForFirstConsumer The storage class we used mounted a managed disk to a virtual machine. We can use other provisioners, for example, , to mount a file share. For such provisioners, data can be accessed from any zone. file.csi.azure.com For the provisioner that mounts a managed disk to a virtual machine, we can choose one of the following SKUs: disk.csi.azure.com Premium_LRS Premium_ZRS Standard_LRS StandardSSD_LRS StandardSSD_ZRS UltraSSD_LRS PremiumV2_LRS As you can see, we have LRS and ZRS options. For the that mounts a file share in the Azure Storage Account, there are three additional : file.csi.azure.com SKUs available Standard_GRS: Standard geo-redundant storage Standard_RAGRS: Standard read-access geo-redundant storage Standard_RAGZRS: Standard read-access geo-zone-redundant storage These three options replicate data in different regions. It can be useful in case of problems with the whole region, but the failover is manual. It may cause some data losses because of the asynchronous nature of the cross-region replication. Conclusion Zone resiliency in AKS is pivotal for ensuring the high availability of applications. When addressing AKS zone resiliency, you should consider the following limitations and best practices: Networking Azure Load Balancer is inherently zone-redundant, facilitating seamless deployment across multiple zones. On the contrary, the NAT gateway, which provides the best outbound traffic characteristics, is zone-specific. Implementing it requires creating separate node pools for each zone and tying each to a unique virtual network subnet. Storage The best approach to persisting data in the AKS zone resilience cluster is to use zone redundant storage. You may need to create custom storage classes to get zone redundant storage. While AKS offers various tools to ensure zone resiliency, it is important to consider which approaches will suit your cluster's technical characteristics and requirements best. Properly configuring node pools, understanding the intricacies of outbound traffic, and employing zone-redundant storage solutions can help achieve a genuinely resilient AKS deployment.

Zone Resiliency in Azure Kubernetes Service

CYRUS SACRIFICES HIMSELF FOR THE SAKE OF THE “ALIENS”

Decentralized Finance, or , refers to the use of distributed ledger technology to recreate and enhance traditional financial systems in a decentralized manner. It eliminates intermediaries and enables individuals to engage in various financial activities, such as lending, borrowing, trading, and much more. They do this directly with each other by using smart contracts, or with automated agents that operate independently from humans. DeFi DeFi offers numerous advantages over traditional finance. It provides financial services to the unbanked and underbanked, enabling greater financial inclusion. Additionally, DeFi eliminates the need for intermediaries, reducing costs and enabling faster transactions. It also promotes transparency by allowing users to verify transactions on public ledgers. is, maybe, the most popular activity in the DeFi industry. Also known as Yield Farming, It operates on the principle of incentivizing users to contribute their digital assets, such as cryptocurrencies, to liquidity pools without intermediaries. Liquidity Mining is a practice that involves providing liquidity (funds) to decentralized platforms in exchange for monetary rewards. These pools are automated agents (they come by different names on different platforms, e.g. smart contracts on Ethereum, autonomous agents on Obyte, Chaincode in Hyperledger Fabric) usually holding a pair of tokens for others to exchange. For example, : to provide liquidity, you need to buy and deposit any amount of the pair in the pool. The funds will be used by others to “swap” or exchange between different coins without intermediaries, while you’ll get a share of the involved fees and additional rewards. This facilitates efficient trading and enables various DeFi protocols to function seamlessly. GBYTE-WBTC Must-know concepts of DeFi and Liquidity Mining Going a bit more “inside” the bowels of these activities, there are some that you need to know before starting. Terms like AMM, APY, CEX, DEX, LP, TVL, governance, impermanent loss, and leverage will repeat in all your journey and different platforms. basic concepts Automated Market Maker (AMM) It’s a decentralized exchange mechanism that uses algorithms to set prices based on the available liquidity in a liquidity pool, facilitating automated trading without relying on traditional order books —like those from centralized exchanges. Annual Percentage Yield (APY) It’s a metric used to measure the total amount of interest or returns earned on an investment or deposit over a one-year period, taking into account compounding effects, fees, and other factors. This percentage is mostly available to check at first sight in any DeFi platform. Centralized Exchange (CEX) It refers to a digital asset trading platform that operates under the control and authority of a central entity (like a company). It typically requires users to deposit funds into their accounts, and trading occurs through an order book managed by the exchange. Binance and Kraken are CEXs. Decentralized Exchange (DEX) It’s a digital asset trading platform that operates on a decentralized network, typically utilizing autonomous automated agents. It allows users to trade directly with each other without the need for intermediaries or central authorities. and on Obyte are DEXs. Oswap.io ODEX Liquidity Provider (LP) It’s an individual or entity that contributes their coins to a liquidity pool on a decentralized exchange or lending platform, facilitating smooth transactions and earning rewards in return. Anyone can be an LP. Total Value Locked (TVL) It’s a metric used to measure the total amount of funds locked or held within a decentralized finance (DeFi) protocol or platform at a specific time, indicating the level of participation and value within the ecosystem. Statistics sites like DeFi Llama and DeFi Pulse use this measure (in USD). Governance and Voting It’s not an exclusive concept of DeFi, but it’s quite important here. It's the process by which participants collectively make decisions and influence the direction of the protocol. It involves token holders voting on proposals, such as protocol upgrades, parameter changes, and allocation of funds, to achieve consensus and shape the platform's development. Usually, each DeFi platform has its own governance token to allow voting. Impermanent Loss When providing liquidity to a pool, it refers to the temporary reduction in the value of your assets compared to their value if you had simply held them outside the pool, due to price fluctuations. It could be "permanent" if you exchange the tokens at a negative fluctuation point. Leverage and Margin Leverage in DeFi platforms allows users to amplify their exposure to assets by borrowing funds to increase their trading position. Margin refers to the collateral or funds users need to provide as a percentage of their borrowed amount to enter leveraged trades. Classic leverage comes with a risk of liquidation if the market moves against you, however, since version 2 (the current version) provides leverage without liquidations. Oswap.io Now, if you’re ready, you can also check about how to profit from the different types of liquidity mining available in the ecosystem. It’s easy, it’s decentralized, and it’s quite rewarding too! our guide Obyte Featured Vector Image by Storyset / Freepik

Educational Byte: Understanding the Basic Concepts of DeFi and Liquidity Mining

Byte educativo: comprensión de los conceptos básicos de DeFi y minería de liquidez

Octet éducatif : comprendre les concepts de base de la DeFi et de l'extraction de liquidités

शैक्षिक बाइट: डेफी और लिक्विडिटी माइनिंग की बुनियादी अवधारणाओं को समझना

教育バイト: DeFi と流動性マイニングの基本概念を理解する

Byte Educacional: Entendendo os Conceitos Básicos de DeFi e Mineração de Liquidez

Byte giáo dục: Hiểu các khái niệm cơ bản về DeFi và khai thác thanh khoản

教育字节：了解 DeFi 和流动性挖矿的基本概念

Real Time Data Processing: Easily Processing 10 Million Messages With Golang, Kafka and MongoDB

The Bitcoin mining industry is undergoing a significant transformation, and at the helm of this change is . This revolutionary platform, built by seasoned miners, is the first eco-friendly Bitcoin mining pool. PEGA Pool It stands out not only for promoting renewable energy use but also for providing substantial financial incentives to its participants. PEGA Pool's founders, equipped with extensive mining experience, understood the potential of renewable energy in revolutionizing the industry. They envisioned an eco-friendly and profitable Bitcoin mining landscape, a space where decentralization is genuinely achieved, irrespective of fossil fuel-based energy constraints. PEGA Pool is the embodiment of this vision. As a trailblazing initiative, PEGA Pool, being the first eco-friendly Bitcoin mining pool, encourages the use of renewable energy. They reward miners who adopt renewable energy by offering a 50% reduction in fees. This initiative stimulates more miners to transition towards cleaner energy sources, fostering an environmentally sustainable Bitcoin mining industry. It also promotes the establishment of a truly decentralized mining network independent of fossil fuel availability. PEGA Pool's commitment to Bitcoin's decentralization is intimately connected with energy sources. Fossil fuels may not be feasible for mining in all regions, and renewable energy becomes a profitable and sensible choice. Offering lower fees for renewable energy use, PEGA Pool is steering Bitcoin mining operations toward global distribution. This renewable energy push is beneficial for the environment and instrumental in further decentralizing Bitcoin. But PEGA Pool's environmental stewardship extends beyond just incentivizing renewable energy. They also have a carbon offset scheme for miners who use fossil fuels. In such cases, PEGA Pool contributes to tree planting efforts to counterbalance the carbon emissions from these mining activities. This strategy displays PEGA Pool's proactive approach to addressing the environmental impact of Bitcoin mining while promoting sustainable practices for the future. Moreover, PEGA Pool is recognized for providing one of the highest-paying options within the Bitcoin mining pool ecosystem. Their generous financial incentives, combined with their commitment to renewable energy, make them an attractive choice for miners looking to maximize their earnings while reducing their carbon footprint. PEGA Pool's sustainable and profitable approach to Bitcoin mining has not gone unnoticed. They're proud to be the leading sponsor of the upcoming Mining Disrupt conference, taking place in Miami from 25-27 July 2023. This event will serve as a significant platform for anyone interested in Bitcoin and mining to learn, network, and discover the latest industry innovations. As a key sponsor, PEGA Pool will share their inspiring vision and transformative work with the global mining community. In summary, is shaping the future of Bitcoin mining. By prioritizing renewable energy, incentivizing sustainable practices, offsetting carbon emissions, and providing substantial financial rewards, they're catalyzing a movement toward a decentralized and eco-friendly Bitcoin network. PEGA Pool PEGA Pool is a testament to the fact that Bitcoin mining and environmental sustainability can coexist profitably, paving the way for a new chapter in Bitcoin's story. : Vested Interest Disclosure This story was distributed as a release by Ascend Agency under HackerNoon’s Brand As An Author Program. Learn more about the program . here

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Poolit

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EVERGREEN INDEX #8277

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