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Emerging DeFi Solution for E-Commerce Offerings

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The @Pay protocol is leveraging blockchain technology and DeFi to offer tailored e-commerce solutions to consumers and merchants.

The emancipation of blockchain technology is all about advances and cutting-edge innovations such as that currently being brandished by the @Pay protocol. Founded in 2020 in Sydney, Australia, the @Pay protocol comes off as a global decentralized platform that brings payment solutions to both merchants, and consumers that make purchases online.

The protocol is a blockchain-backed platform and bases its technology on three emerging markets including the Buy Now Pay Later (BNPL) offering, the embrace of digital currency and fiat notes for its operations, and the use of smart contracts and blockchain technology in bringing tailored financial solutions to its ecosystem users.

While blockchain technology is gradually finding the right application in ecommerce, the @Pay provision takes the bar one step higher. Through its platform, users can make purchases for goods and services up for sale by @Pay merchants and spread the payments conveniently for a period of three months with repayments designed to be made in 4 installments. This model works for all products supported by @Pay, whether they are online or offline stores.

The platform is powered by the @Pay token, a multi-functional digital asset that aids in completing purchases, making payments, receiving incentives, and serving as the right asset for the platform’s governance. Per the contributions made to the @Pay ecosystem, all users including merchants and consumers are rewarded through a definitive and sustainable program.

@Pay Protocol as a DeFi Entity with Unique Value Additions

The proposed value addition by the @Pay protocol transcends just its core solutions and extends onto decentralized finance (DeFi) provisions. Through the use of smart contracts, @Pay community members can access ‘Staking’ as a DeFi offering on the platform.

Through the staking offering, users can deposit a supported Stablecoin (digital currencies whose values do not fluctuate as they are pegged to a fiat currency). Staking on the @Pay protocol attracts a competitive  rate or return over a selected period of time. Stablecoin stakers will also be able to farm the @Pay governance token as a further incentive.

In addition to the staking offering, there are alternative, value-addition services the @Pay protocol has incorporated into its ecosystem. These include the ability to complete any form of a transaction using either cryptocurrency or fiat money. While there are no fees attached to the Buy Now Pay Later offering or late payments in the BNPL system in general, users are incentivized in order to encourage a timely and complete repayment in order to ensure ecosystem sustainability.

Shoppers have the choice of using the BNPL feature or can shop credit-free using any of the approved digital currencies they hold in the @Pay integrated wallet.

Diversity, Token Dynamics and Protocol Financials

The @Pay’s designed BNPL model is one of the pioneering efforts to get the emerging market worth over a $7.32 billion valuation as of 2019 in the cryptocurrency ecosystem. Nonetheless, the platform has aggregated a number of BNPL providers from which each user can flexibly choose whom to pitch tents. A detailed overview of how the BNPL model functions on @Pay can be accessed on the protocol’s Whitepaper can be found here.

The @Pay token is designed as an ERC-20 token with a total of 250 million initial supply. Bolstered by its limited supply, the token can be accessed on cryptocurrency exchanges, issued to stakers who stake their stablecoins on the platforms, received as an incentive in one of the platform’s programs, or transferred from one person to the other. The token helps crown the operations of the platform and gives the right boost to the protocol’s offerings.

Revenues are designed to be generated through commissions paid by users as well as those from repayments, and advertising. In all, the @Pay protocol is created to ease the pains of users accessing products and services they need via the traditional ecommerce options available today. Further ecosystem development is billed to be continuous and will draft the involvement of the platform’s token holders.

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Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.



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Ethereum Can Outpace Bitcoin with Launch of Ethereum 2.0

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The CEO is much bullish on the transition to Ethereum 2.0 Proof-of-Stake (PoS) blockchain along with the rise of the DeFi market.

The Bitcoin (BTC) vs Ethereum (ETH) debate gets intense. This year, a large number of institutional players have extended their support for Ethereum. With the Ethereum hardfork just two days away, Pantera Capital CEO Dan Morehead predicts that ETH will outpace BTC as the largest cryptocurrency.

On Monday, August 2, speaking to the Reuters Global Markets Forum, Morehead said Ethereum has more potential than Bitcoin. The Pantera CEO also stated that the upcoming Ethereum Improvement Proposal (EIP) 1559 upgrade will help the digital token to trade more like a fixed asset.

The EIP-1559 implementation will bring a major change to Ethereum’s existing fee structure. It will significantly reduce the inflation rate of the Ethereum network making transactions more cost-effective. Thus, the EIP-1559 implementation will make the Ethereum blockchain network deflationary with time.

“You’ll see a transition of people who want to store wealth, doing it in Ether rather than just Bitcoin,” Morehead said.

Pantera Capital Is Betting on Ethereum 2.0

Like many other market analysts, Morehead is betting on the transition to the Ethereum 2.0 blockchain network. The move to the PoS blockchain network will significantly Ether’s energy consumption in mining.

Last month, a panel of 42 senior crypto academics and specialists put together by Finder, made a similar prediction. Token Metrics senior cryptocurrency investment analyst Forrest Przybysz said:

“Ethereum’s move to proof-of-stake later this year or early 2022 will result in ethereum’s supply becoming deflationary and will be equivalent to multiple bitcoin halvings [cuts to bitcoin’s supply of new tokens]in terms of supply restriction. This will make it a better store of value than bitcoin in addition to all the utility it provides that bitcoin does not have”.

Pantera CEO Dan Morehead is also betting on the future of the DeFi market. He added that Ethereum’s wide implementation in the DeFi application will help it outgrow Bitcoin.

However, despite his bullishness on Ethereum, Morehead is not critical of Bitcoin. He expects the Bitcoin price to touch $80,000-$90,000 by the end of this year. He further expects bitcoin to cross $120,000 levels in a timeframe of one year. With the mainstream adoption of Bitcoin (BTC), its price can go as high as $700,000 in the next decade.

Institutional Players Backing Ether (ETH)

Apart from Morehead, Wall street veteran Mike Novogratz also recently said that Ether could become “the biggest cryptocurrency one day”.

A recent report from Coinbase also showed that Ether has outperformed every other asset class during the first half of 2021. It also wrote about the rising institutional interest in Ethereum. The report states:

“Many of our largest institutional clients, including hedge funds, endowments, and corporates, increased or added first-time exposure to ETH in H1, believing the asset has long-term staying power tantamount to BTC’s while playing a differentiated role in their portfolios.”

Read more crypto news on our website.

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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.



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Li Auto Set for Secondary Listing in Hong Kong to Raise $1.93 Billion

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Chinese carmaker Li Auto set to offer secondary listing in Hong Kong as a hedge against geopolitical risks between America and China.

Automobile manufacturer Li Auto (NASDAQ: LI), is going ahead with a secondary listing on the Hong Kong Stock Exchange (HKEX) despite regulatory crackdowns in the country. The Chinese electric vehicle startup, which is already listed on the NASDAQ, is looking to raise $1.93 billion. It plans to do this by offering 100 million Class A ordinary shares to investors at 150 Hong Kong dollars or $19.29. Li Auto plans to funnel the proceeds from its share offering into research and development of technology and future models. The automobile company is also looking to scale production and increase retail activities around its products. 

Li Auto will announce a final price on August 6th amid the crackdown on Chinese listings. The recent regulatory actions have sparked a huge recent sell-off in Chinese technology stocks. The sell-off has affected everything from food delivery to ride-hailing.

The Chinese government looks to tighten its grip over Chinese technology companies in a bid to avoid a tech-led bubble bursting. This comes on the back of the US SEC imposing stricter listing requirements for Chinese-based companies in America. Amid the excitement and uncertainty of the crackdown, Chinese electric vehicle makers are also looking to capitalize.

Li Auto Is One of Many Chinese Tech Companies with Secondary Listings in Hong Kong

Several Chinese companies already listed on Wall Street have secondary listings in Hong Kong to hedge against Chinese-American tensions. In July, Xpeng (NYSE: XPEV) generated $1.8 billion in a Hong Kong listing. The Li Auto rival issued 85 million Class A ordinary shares and is also already listed in the US. Other Wall Street Chinese technology companies with secondary listings back home are Alibaba, NetEase, and JD.com. 

Owing to the increasing growth of Chinese electric vehicles, the competition has become very intense in recent times, especially among startups. Li Auto, Xpeng, and Nio are all jockeying for dominance in the playing field. In addition to this, all three companies are also directly competing with established companies such as Tesla and BYD. Even the more traditional automakers are always looking to take a sizable market share in the automobile industry. As far as the electrical startups go, Xpeng has already proven to be a force in coming years and is already being dubbed ‘The Chinese Tesla Rival’.

In July 2021, Li Auto recorded a record number of monthly vehicle sales. The company said it delivered 8,589 of its Li One vehicles, the only model in its current model lineup. The Li One is a hybrid vehicle with a fuel tank for charging the battery, giving the car an increased mile range.

Li Auto sold the highest number of vehicles among the trio of Chinese electric vehicle startups listed in the US. Xpeng delivered 8,040 vehicles which was also a company record. In comparison, Nico sold 7,931 cars in the same period.

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Tolu is a cryptocurrency and blockchain enthusiast based in Lagos. He likes to demystify crypto stories to the bare basics so that anyone anywhere can understand without too much background knowledge.
When he’s not neck-deep in crypto stories, Tolu enjoys music, loves to sing and is an avid movie lover.



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SkyBridge Partners with MOSS Earth to Offset Carbon Print Caused by Its Bitcoin Holdings

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SkyBridge is committed to make Bitcoin mining a green industry through renewable energy.

SkyBridge Capital, a global alternative investment firm that specializes in hedge fund products, has announced a strategic partnership with MOSS Earth, a climate technology company focused on environmental services especially global operations. According to the partnership details, SkyBridge has purchased MCO2 tokens representing approximately 38,436 tons of carbon, consequently, the investment firm has officially offset its historical carbon footprint caused by its Bitcoin holdings.

SkyBridge is committed to make Bitcoin mining a green industry, moreso, through renewable energy. “We project that bitcoin mining will be fully renewable by the end of the decade,” said Anthony Scaramucci, Founder and Managing Partner of SkyBridge. “In the interim, carbon offsets represent an effective way to green the bitcoin network and facilitate adoption by ESG-minded investors.”

SkyBridge and Bitcoin Mining Industry

The discussion of Bitcoin mining and energy consumption has dominated the first half of the year. As institutional investors proliferate the crypto industry that is partially powered by proof of work, government scrutiny is expected to rise. Furthermore, global warming caused by carbon emissions through electricity production has caused weather extremities in notable parts of the world. Recently, heavy rains experienced in some parts of Europe and Asia have caused huge damage due to flooding.

However, institutional investors are seeking to hedge against the inflationary global economy that has been magnified by the coronavirus pandemic. Consequently, Bitcoin and other digital assets have emerged as the best alternatives that give the best return on investment over a long-term basis.

Investing in green Bitcoin mining, particularly for SkyBridge, is expected to set a positive note for other institutional investors.

“SkyBridge’s initiative to offset the greenhouse gas emissions caused by the bitcoin held by its funds is most probably the largest ever done by an institutional investor, and an example to be followed by the investment community. Offsetting bitcoin’s carbon emissions is an important step towards the correct pricing to the planet of electricity usage, and towards accelerating the migration of the bitcoin mining industry to renewable energy sources,” said Moss CEO and founder Luis Adaime.

Earlier this year, Tesla Inc (NASDAQ: TSLA) announced that it has temporarily stopped receiving Bitcoin payments until the mining industry migrates to renewable energy consumption.

The pressure has mounted on Bitcoin mining operations as the Chinese government cramped on the industry earlier this year. Notably, Bitcoin miners are critical in maintaining the network’s overall operations including confirming transactions and also securing the blockchain.

Bitcoin and the entire altcoin market have experienced a notable rebound from the prior correction that began around mid-March. At the time of reporting, Bitcoin was trading around $38,552.27, down 2.6% in the past 24-hours according to CoinGecko.

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A financial analyst who sees positive income in both directions of the market (bulls & bears). Bitcoin is my crypto safe haven, free from government conspiracies.
Mythology is my mystery!
“You cannot enslave a mind that knows itself. That values itself. That understands itself.”



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