SPWN and ITGR tokens ICO is coming soon – DeFi market wrap

Bitspawn Protocol is launching its native token’s ICO on June 14, 2021. The initial coin offering will end on Jun 16, 2021, and the protocol is offering a total of 40,000,000 SPWNs for sale. The price is $0.015 per token, and Bitspawn aims to raise $600,000 during the trade.

This protocol has already gained its share of popularity and continues enlisting more supporters to its cause. That’s not surprising, considering all the advantages its offers to its users. Bitspawn provides a premier esports experience that is accessible online globally. Its platform is technologically adaptive and user-focused, as well as community-driven.

Furthermore, Bitspawn boasts a self-sustaining ecosystem. It enables greater community control, player independence, and scalability. Among their competitive advantages is an integrated payment processing system, which comes with game data automation.

The company wants to level the playing field in the esports market, thus giving all players equal opportunity to compete. To achieve that goal, the platform enables players to connect directly with advertisers and sponsors to help them build their personal brands. Amateur players can also earn an income off competing. The fact that they don’t have to resort to streaming is an additional advantage.

What is Bitspawn’s future vision?

Bitspawn aims to make esports accessible to all gamers worldwide. The company addresses the increasingly pronounced need for collaboration and socialization between players, organizations, companies, and consumers in esports.

Bitspawn is an infrastructure-oriented solution. Thus, it is unlocking the possibility for hundreds of millions of gamers, tens of thousands of sponsors, millions of teams, organizers, and advertisers to connect with each other securely. It also offers a chance to become a part of the global esports ecosystem.

The Bitspawn team selected its core values on the basis of providing a solution to issues associated with the unprotected rights of esports participants. They aim to fix esports’ broken business model (friction and misalignment between involved parties, fragmented ecosystem creates complexity), along with esports’ increasingly polarized ecosystem.

Integral is launching ICO today. What does it offer?

Integral is launching its native token today. ITGR is ERC20 ICO token. During the initial coin offering, 300,000,000 tokens will be available for sale, which is 25% of the total supply. The price will be 0.981295 USD per ITGR. The company aims to raise 4,500,000 USD during the sale.

Integral is an AMM-based DEX. It mirrors liquidity on other top exchanges, aiming to provide the cheapest liquidity among all decentralized and centralized exchanges.

The company launched a series of stablecoin pools, including USDC-USDT, DAI-USDT, and DAI-USDC. These pools are already open for LPs traders and investors. Furthermore, the company increased the liquidity farming reward, boosting LP reward rates to 1.406% of the token cap.

Integral also decided to perform a 1:10000 split on the Gov Token. The company aimed this split to increase the token supply from 30,000 to 300,000,000. However, it announced that if users have previously acquired $ITGR, the value of their total $ITGR position will remain unchanged.

Users can trade all pairs on Integral platform, including single-sided deposit $ETH, $USDT, $wBTC, $DAI, $USDC, and $LINK. The platform claims to achieve the best execution costs in DeFi space per dollar of TVL.

Integral’s TVL is more than $260mm. However, the company offers an equivalent level of liquidity, along with slippage that a $13B CFAMM pool offers, making their Implied Liquidity $13B.

What about Integral’s mission?

The integral team aims to build products that rival those of centralized exchanges. However, they do it in service of their self-custodial decentralized homeland, as well as its users.

Most importantly, the team wants to address economic injustices by distributing the upside of network effects to their community of customers so that using the product means owning the product. According to Integral, each new product they build creates on-chain stickiness that further counters the centralized exchange product lines. The company claims that the key to breaking incumbent network effects lies in mass organization. Thus, they must get a majority of users to act forcibly and swiftly and achieve their goal.

Meanwhile, Binance listed Tornado Cash on its platform

Binance announced that it would list Tornado Cash (TORN) on its platform today. The exchange will open trading for TORN/BTC, TORN/BUSD, TORN/BNB, and TORN/USDT trading pairs at 06:00 AM (UTC).

Tornado Cash is one of the largest decentralized, non-custodial privacy solutions built on Ethereum. It breaks the on-chain link between the source and destination addresses to improve transaction privacy. The company has launched its governance token TORN to give its holders additional advantages. TORN holders can vote to change the protocol and create proposals.

Tornado Cash became popular soon after its initial launch, and investors can already buy it on OKEx, Gate.io, HitBTC, LBank, etc. Binance joined the list of those platforms today, as well.

How does Tornado Cash work?

Tornado Cash uses a smart contract as the latter accepts both ETH and ERC-20 deposits. Users can withdraw these deposits by any on-chain address. According to the Tornado Cash team, whenever an asset is withdrawn by the new address, there is no way to link the withdrawal to the deposit. Thus, asset privacy is guaranteed.

The company uses zero-knowledge proofs to achieve privacy. When a customer decides to make a withdrawal, they must provide proof of possessing a secret corresponding to one of the smart contract’s lists of deposits.

zk-SNARK technology makes it possible to verify this proof without the customer needing to reveal which exact deposit corresponds to their secret.

Afterward, the smart contract checks the proof, and if everything is correct, transfers deposited funds to the address specified by the withdrawal transaction. The whole of it works in such a way that any external observer won’t be able to determine which deposit this withdrawal is linked to.

TORN a fixed-supply ERC-20 token, and the platform uses it to enable its customers to vote on protocol upgrades and fixes.

The TORN token has a total fixed supply of 10,000,000. 10% of the supply is allocated to liquidity mining rewards (distributed linearly over one year), 5% to previous protocol users via an airdrop, 30% to founding developers, along with early supporters (unlocked over three years with a one year cliff), and 55% goes to the protocol treasury (unlocked linearly over five years).