Stock tokens on Binance and Alphr launch – DeFi market wrap
Monday saw several interesting developments in the DeFi space. Binance announced today that it would list three new stock tokens over the coming week. According to Binance, it will launch tokenized stock pairings for multinational tech firms Apple (AAPL) and Microsoft (MSFT), as well as leading business intelligence firm Microstrategy (MSTR).
This announcement comes after the world’s biggest crypto exchange launched the tokens tracking the performance of Coinbase shares and Tesla earlier this month. New tokens will allow customers to trade fractionalized units of the share tokens while enjoying the minimum trade sizing set at one one-hundredth of a token.
Binance’s MSTR tokens will go live at 1:30 pm UTC on April 26. The company plans to launch the AAPL tokens simultaneously on April 28, while MSFT tokens will be available from April 30.
Users can only trade the tokens against Binance’s stablecoin BUSD. Furthermore, Binance’s stock tokens won’t be available to residents of the United States, mainland China, Turkey, and other jurisdictions restricted by CM-Equity. The tokens will also observe traditional stock trading hours.
How do Binance Stock Tokens work?
The company explained that Binance Stock Tokens are tokens of stocks that trade on traditional stock exchanges. Binance also highlighted that each Stock Token represents one share of the relevant stock.
A depository portfolio of underlying securities held by CM-Equity AG (Germany) fully backs up these tokens. Stock Tokens’ holders will receive economic returns on the underlying shares, such as potential dividends, etc.
Binance stated that it plans to monitor market demand to provide a channel for more Stock Tokens sold and issued by CM-E. However, interested investors will be able to trade Stock Tokens only after satisfying relevant compliance requirements.
The exchange launched its first stock token on April 12 while allowing its users to speculate on the price of Tesla. Binance listed fractional shares for Coinbase on April 15, as well.
Meanwhile, Ares and Alphr are launching native tokens
Ares is starting its native token’s IDO today. A total of 7,300,000 ARESs are for sale for a price of $0.03. Investors can buy the tokens on Poolz & DuckStarter platforms from April 26, 2021, to April 27, 2021.
Ares is an on-chain verifying oracle protocol. Polkadot powers its platform. Ares provides reliable off-chain data to its users in an efficient and trustless manner. Furthermore, this platform is built on Substrate. It’s constructed as a parachain, aiming to link to Polkadot’s ecology and share its security consensus. Ares is essentially a scalable oracle network offering various decentralized data services to the Polkadot ecosystem and its parachains.
What about Alphr’s token?
Decentralized social trading platform Alphr is also releasing its new token today. This platform enables its users to copy any wallet, sell when they sell, and buy when they buy.
Investors’ wallets are typically their on-chain identity, but Alphr makes wallets into a social profile. It means every ETH wallet trading on Uniswap has a profile that automatically generates according to their trades. Users can follow wallets and watch a feed of their recent transactions. They can easily mirror trades manually in one click. However, they need to create an automated mirror pool to copy any wallet automatically.
The $ALPHR token is a governance token. It gives all $ALPHR holders governance rights over the protocol, as well as community development fund. Furthermore, the company disperses all transaction fees generated by the Alphr platform among the $ALPHR token holders. According to Alphr, 75% of fees are for buying and burning the token, with 25% of fees transferring to the community development fund. Overall, ALPHR token owners get back whole 100% of the transaction fees through a burn mechanism.
Besides, each wallet address has its own risk score based on the trading history; thus, it enables users to decide quickly which wallets to mirror. Users earn ALPHR tokens every time someone copies their trade. Even if a customer hasn’t claimed their Alphr profile, they are still earning rewards when being mirrored.
Alphr started mirroring on Uniswap and Ethereum. However, users will be able to mirror trades on BSC, Polkadot, and other platforms soon. The ALPHR token’s IDO sale started today, and 1 ALPHR is trading for 1.5 USD.
Tether’s market cap is over $50 billion now
Tether token’s market cap has surpassed $50 billion, garnering analysts’ attention. Tether Operations Limited is the blockchain-enabled platform, and it powers the largest stablecoin by market capitalization.
USDt is a faster and cheaper form of money. It is also a very liquid, stable, and trusted stablecoin. Tether eclipsed major blue-chip stocks such as Kraft Heinz and Ford Motor thanks to its exponential growth. Its market capitalization has grown by more than a factor of ten during the past 12 months.
Furthermore, the tetherisation of trading is gathering pace. Spot exchanges are denominating more and more trading pairs in USDt instead of bitcoin. People are also increasing use USDt in payments and remittances. This token is playing a pivotal role as a liquidity provider in decentralized finance. According to the latest data, Tether’s daily trading volume currently exceeds USD140 billion.
Paolo Ardoino, CTO at Tether, stated that surpassing a market cap of USD50 billion is a significant milestone for Tether. When the team first launched this stablecoin, they could not have dreamt that it would have soared so exponentially.
USDt’s presence in the payments and e-commerce space is also growing. In many use cases, USDt plays the role of a superior medium of exchange. It can offer lower transaction fees than wire transfers of fiat currency.
PointPay.io is listed among the hot ICO tokens
PXP is another hot token, which you don’t want to miss. PointPay launched it recently. This UK-regulated company has been operating since 2018. PointPay Team has built an all-in-one cryptocurrency ecosystem of 10 fully functional products.
The company’s approach to crypto mass adoption is innovative. PointPay Blockchain-based Bank offers a full range of financial services, and it’s the first of its kind worldwide. Clients can open crypto checking, and crypto savings account in most popular cryptocurrencies and stable coins and earn interest with daily accruals.
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