Author: Michael Kalu

CROSS THE AGES Raises Additional $3.5 Million in Equity Rounds Led by Animoca Brands
CROSS THE AGES (CTA), an inventive multimedia gaming ecosystem, has announced an additional $3.5 million equity round, led by Animoca Brands. This is the latest of several successful equity funding rounds, and when we add the community fundraising, the total funds raised come to an impressive $23.5 million.

Prior to this latest round, CROSS THE AGES secured investments from notable venture capitalists (VCs), including Ubisoft and Square Enix. Additional investments have also come from Nicolas Jeuffrain of Tenergie and Sebastien Borget of The Sandbox.

Speaking about the equity round, Co-founder and CEO of CROSS THE AGES, Sami Chlagou, said:

“We are thrilled to welcome Animoca Brands as the lead investor in our first equity round. This collaboration signifies a shared commitment and a vote of confidence for CTA’s gaming universe to expand the IP amongst Animoca brands.”

The executive chairman and co-founder of Animoca Brands, Yat Siu, also commented on the strategic partnership, saying:

“Blockchain gaming is an important movement that is bringing true digital ownership to the masses. CROSS THE AGES perfectly embodies the values of this movement, enabling users to live experiences in a virtual environment solidly founded upon personal ownership.”

CAT’s Token Generation Event

While announcing the latest equity funding, CAT also announced its ecosystem’s Token Generation Event (TGE). This means the token has been listed on a number of exchanges, including Bybit, gate.io, KuCoin, and MEXC.

The latest developments within CROSS THE AGES suggests that the ecosystem is ripe for expansive growth. The strategic investments and partnerships will help accelerate its many growth initiatives, ultimately helping the team build out the CTA universe.

Virtual trading card game

CAT released a virtual trading card game in March 2023. Since then, it has received an impressive 400K downloads and garnered 148K monthly active users. Its social media following has also blossomed in recent times – 240K followers on Instagram, 250K on Twitter, and 25K on Discord.

CAT gaming studio has grown to become a highly successful studio, with several impressive stats, including:
- $19M+ company generated revenue since June 2022
- 3.8M+ NFTs minted
- 35 million digital cards sold
- 29 million secondary market
- 450K+ game downloads
- 350K trades
- 20 weeks top 1 Apple Store
Conclusion

CROSS THE AGES (CTA) has successfully rounded up another significant equity investment, raising $3.5 million with Animoca Brands leading the charge. This latest funding boosts the total capital infusion into the innovative gaming ecosystem to $23.5 million, incorporating both equity and community-driven funding efforts.

The strategic backing from heavyweight investors such as Ubisoft, Square Enix, and figures from the blockchain gaming sphere points out the market’s confidence in CTA’s potential to reshape the gaming landscape.
May 15, 2024
Ramp Adds Support for Casper Network – To Simplify Fiat-Crypto Transactions

Fintech Company, Ramp Network, just announced that it has added support for Casper Network. The integration is another major milestone for the company, which is building payment rails connecting crypto to the global financial system. It will enable users to seamlessly buy crypto on Casper Network.

Ramp will leverage Casper Network’s enterprise-grade scalability and security to simplify the process of buying crypto with fiat currencies. The collaboration is also a good one for Casper Network, a decentralized platform that enables rapid deployment of innovative blockchain applications.

An Intuitive Fiat-Crypto Gateway

Ramp Network is committed to providing individuals and businesses with a seamless experience when converting between cryptocurrencies and fiat currencies. It is fully integrated with the major global payment methods, including credit cards, debit cards, bank transfers, Google Pay, and Apple Pay, among others.

By adding support for Casper Network, Ramp will make it easy for users of all experience levels, including newbies, to buy crypto with fiat currencies. The combined capabilities of both networks also make transactions faster. What is more? It eliminates the need for third-party exchanges and platforms, alongside the problems associated with them.

Commenting on the integration, Jose Atalaya, Geo Expansion and Ecosystem Manager at Ramp, said:

“We’re thrilled to collaborate with Casper, one of the most innovative and reliable platforms in the blockchain space. Together, we are making crypto more accessible to everyone, and this partnership is a significant step in that direction.”

Driving Adoption through Improved User Experience

As hinted earlier, the Ramp-Casper integration will make things easier for all users, including those who are buying crypto for the first time. They will be able to find digital assets of their choice on Casper, and with Ramps services, purchase such assets with fiat money via any payment method they are familiar with.

While making things easier for users, the collaboration doesn’t leave room for security compromise. Users’ safety and security are top priorities for both Ramp and Casper, and their combined infrastructure ensures that users are fully protected at all times.

Considering the major benefits it offers current and potential users, it is evident that the Ramp–Casper integration will contribute to driving wider crypto adoption. Potential users will be more willing to get into the crypto scene when they understand how easy and simple it is to buy crypto on Casper.

Speaking about the integration, the Executive Director in charge of Ecosystem Development at Casper, Alizee Carli, said:

“This collaboration with Ramp Network underscores our commitment to provide user-friendly experiences, expand accessibility and foster broader adoption. By combining our robust blockchain infrastructure with Ramp’s intuitive fiat<>crypto gateway, we’re ensuring that our community can transact with ease, security, and speed.”

Wrapping Up

The Ramp – Casper integration is already live. Obviously, the two companies have been working closely behind the scenes for some time now. Following the smooth and successful launch, users are invited to check out how seamlessly it works.

September 27, 2023
Oasys and XPLA’s Web3 Hackathon Showcases Innovation in Gaming and Blockchain Integration
Key highlights
- “Beyond Boundaries” web3 hackathon concludes successfully in Seoul.
- 163 participants form 90 teams, with 15 finalists showcasing innovative ideas.
- Winning projects focus on enhancing blockchain interoperability and user experiences.
Oasys and XPLA, with support from Com2uS, recently celebrated the end of their web3 hackathon, Beyond Boundaries, with a big event in Gangnam, Seoul on September 3, 2023. At this event, teams showed off their cool ideas.

The hackathon got a lot of attention. 163 people joined in, and they formed 90 teams. Afterward, 15 teams got to show their stuff at the Demo Day. Nine teams came out as winners, with three from each group.

Solving Complex Problems and Enhancing Gaming Experience

This hackathon was a project between XPLA and Oasys. They wanted to solve tough problems in web3 and make games better. The event attracted many talented people who had new ideas.

Judges picked winners based on different things like how well the ideas worked with blockchain, how creative they were, and if they could help people. The judges included experts from XPLA, Oasys, HAECHI LABS, Yooldo, Marblex, Xangle, GroundX, KDDI, Nexon, and Hashed.

Paul Kim, from XPLA, was excited. He said:

“The ideas brought forth at Beyond Boundaries will help in tightly integrating various mainnets, propelling the web3 industry and community forward. This hackathon brings us one step closer to realizing the boundless possibilities and future of web3.”

Dominic Jang, Head of Business Development at Oasys, said,

“It was indeed a great opportunity for game companies and chain operators to meet talented builders that readily are working on critical hurdles game companies and blockchain businesses face. It’s essential to tackle the hurdles to create the paths for game companies to use the blockchain technologies when deploying games.”

Three-Part Hackaton

The hackathon showcased an impressive array of innovative solutions across three distinct tracks, each pushing the boundaries of web3 technology.

Track One: Integration Solution Idea/PoC between Layer 1 Nodes

Third Place: Pandora developed a solution for obtaining desirable GameFi NFTs by combining non-fungible tokens from different L1s.

Runner-up: Loot Adventures used ERC6551 technology to turn Loot NFTs into pseudo-wallets, allowing players to equip any NFT or FT for dungeon exploration and PvP combat.

Winner: Toppin used ERC-6551 to sort profile NFTs from item NFTs, simplifying digital inventory navigation.

Track Two: Ideas for Blockchain Coding Plugin Format (module genre: game, NFT)

Third Place: Zero Protocol Team (ZPT) created a library for simplifying wallet implementation in Unity3D and HTML5 games.

Second Place: Yours aimed to simplify web3 gaming by enabling NFT issuance, authentication, synthesis, and trading in one wallet UI/UX.

Winner: LYNC developed an SDK for game developers to seamlessly integrate in-game assets into Unity and Unreal Engine.

Track Three: Ideas on Know Your Customer (KYC) UX Improvement Solution

Third Place: ARGOS offered a consolidated digital passport linking identity with blockchain wallets, simplifying KYC processes and Travel Rule compliance.

Second Place: Gameforms provided KYC authentication to customers through survey questionnaires and in-game missions.

Winner: Mines offered a comprehensive solution for managing accounts and wallets, allowing users to link their game accounts and perform KYC processes.

The judges liked projects that explored used cases of ERC-6551. Two of the teams did that to enhance interoperability and user experience.

Wrapping up

Beyond Boundaries web3 hackathon, jointly organized by Oasys and XPLA with support from Com2uS, marks a significant milestone in the advancement of web3 technology. With its focus on solving complex problems, fostering innovation, and enhancing the gaming experience, this event highlights the growing potential and collaboration within the web3 community.
September 5, 2023
Orbs Integrates With Axelar Satellite to Enable Cross-Chain Token Swaps Across 5 Blockchains
Key takeaways
- Orbs has formed a strategic partnership with Axelar Network, allowing users to securely bridge their ORBS tokens across prominent blockchains.
- Axelar Network follows Orbs’ transition to a reliable alternative for secure token bridging after the collapse of Multichain.
- Axelar Satellite emerges as a robust solution for cross-chain communication, ensuring seamless token swaps for Orbs users across various top blockchains.
Top Layer-3 infrastructure network, Orbs, has announced a new partnership with Axelar Network. This strategic partnership will enable Orbs users to bridge ORBS tokens across leading blockchains, including Ethereum, Avalanche, and BNB Chain.

A prominent L3 infrastructure network for decentralized applications, Orbs works perfectly with a wide range of dApps. By integrating Axelar Network, Orbs has provided users a secure and reliable way to bridge its token across top blockchains.

Moving on from Multichain

In the past, Orbs relied on Multichain cross-chain protocol for bridging of its tokens to alternative networks. A big gap was created when Multichain announced the cessation of operations in June due to an ‘unusual activity’ that lead to withdrawal of assets worth over $126 million from its wallets. The exact nature of the unusual circumstances remains unclear but Orbs has moved on.

In the past weeks, Orbs focus was finding a reliable alternative – a new bridge provider that will offer the highest level of security. Orbs also wanted a stable network that will guarantee support for ORBS token across all chains that were previously supported by Multichain. In the end, Axelar network was picked as the right alternative.

What Axelar network offers

Axelar Satellite ticks all the boxes when it comes to cross-chain communication for web3 projects. It’s a particularly excellent choice for projects creating decentralized applications that work across a single blockchain ecosystem. It utilizes proof-of-stake consensus mechanism, just like the majority of leading blockchain networks.

A top-level interchain infrastructure, Axelar Satellite will enable users to safely bridge ORBS tokens across popular blockchains, such as Ethereum, BNB Chain, Avalanche, Arbitrum, Fantom, and Axelar from today. It is known for its simple UI, which makes it very easy to use. Users can bridge their assets in just a few clicks.

Axelar has a really good reputation, especially when it comes to transferring digital assets across supported chains. So far, it has facilitated over 700,000 cross-chains swaps. The total value of transaction is now in excess of $1.8 billion.

In terms of what Orbs network needs, Axelar Satellite is the perfect partner. It meets the high standards Orbs needs. The ongoing security audit of its smart contracts and infrastructure is another big plus. The fact that its codebase is completely open and can be viewed by the community through its Github page adds another level of trust.

Wrapping up

Orbs’ recent integration with Axelar Satellite provides a secure and reliable way for users to swap ORBS tokens across a number of leading blockchains. It appears to be better than the erstwhile collaboration between Orbs and Multichain cross-chain protocol. Starting today, Orbs users can be sure that they can securely swap tokens across the top five blockchains
August 14, 2023
BitSport Unveils Blockchain-Powered Gaming Revolution with BitPool V2 Alongside $BITP Balancer LBP Event
Key takeaways
- BitPool V2 introduces a groundbreaking era of gaming with enhanced rewards and immersive gamification features.
- Players can indulge in a cross-platform multiplayer experience.
- BitPool combines the classic 8-ball pool game with blockchain technology.
In a groundbreaking development poised to redefine the gaming industry, BitSport has proudly announced the highly anticipated launch of BitPool V2. This cutting-edge AI and Web3 8ball pool game introduce a new era of unparalleled excitement, boasting enhanced rewards and immersive gamification features. Also, BitSport has initiated a Balancer Liquidity Bootstrapping event on Fjordfoundry, exclusively dedicated to the governance token $BITP.

Prepare to be amazed by the extraordinary world of BitPool V2, where cross-platform functionality and multiplayer capabilities are at the forefront. This revolutionary update transcends conventional boundaries, enabling gamers to indulge in an exhilarating multiplayer experience across diverse web browsers and mobile devices.

BitPool represents the culmination of BitSport’s vision, combining the classic 8-ball pool game with state-of-the-art blockchain technology and fostering a vibrant decentralized community of players. This sophisticated gaming experience delivers the most advanced and realistic 8ball video game immersion to date, adapting seamlessly to each player’s individual style.

With an array of game modes available, including tournaments, leagues, daily challenges, and thrilling matches against friends, BitPool’s innovative play-to-earn style ensure tangible rewards in the form of cryptocurrencies for players’ accomplishments.

Mark your calendars for the upcoming LBP event, scheduled from July 21-26, offering avid BitPool enthusiasts an exclusive opportunity to secure the game’s native cryptocurrency token, $BITP. This token serves as the backbone of BitPool’s gamified ecosystem and promises exponential growth potential for event participants. Notably, the $BITP token adheres fully to regulatory standards as a compliant digital asset. Players can acquire it through in-game achievements, deploying it for BitPool’s governance purposes, or indulging in the acquisition of coveted NFT-based in-game assets, such as Pool Cues, Avatar Sticks, and Rare Balls.

The unveiling of BitPool V2 and the simultaneous launch of the Balancer Liquidity Bootstrapping event on Fjordfoundry mark significant milestones for BitSport. Positioned at the intersection of blockchain, cryptocurrency, and video games, the emerging GameFi sector seamlessly integrates decentralized finance and tokenized ecosystems, creating unprecedented prospects for both gamers and investors.

Revolutionizing Gaming with GameFi and Blockchain Integration

It is worth noting that the pool gaming genre enjoys tremendous popularity, exemplified by the Guinness World Record achieved by the 8 Ball Pool app, surpassing one billion downloads in 2021—an impressive testament to its broad appeal. Against this backdrop and in light of the increasing interest in GameFi, BitPool stands poised to capture the attention of one of the largest player bases in the gaming industry.

“The GameFi industry presents significant potential for innovation and financial inclusion with the fusion of gaming and blockchain technologies. It creates opportunities for gamers to monetize their skills while enjoying themselves, and allows investors to participate in the growth of gaming ecosystems, encouraging the development of novel experiences”
—Charles Adenuoye, BitSport Co-Founder and CEO

Driven by the power of Non-Fungible Tokens (NFTs), BitPool introduces an unprecedented paradigm shift by facilitating ownership and trading of in-game assets through a decentralized marketplace. This innovative approach not only enhances player engagement but also spawns novel economies within the gaming industry.
July 19, 2023
BitMEX Set to Introduce Guilds – Unique Social Trading Feature with Lots of Benefits

The world’s leading derivatives exchange, BitMEX, is set to introduce a distinctive social trading concept that promises so much. Aptly named Guilds, this brand new concept will enable professional traders to come together to achieve more than if they traded alone.

According to the latest information, Guilds is currently in βeta (testing) stage, meaning it will launch soonest. The best part of the news is that it will be available to all BitMEX customers, including new, existing, and returning users. Traders of all experience level, therefore, can enjoy the benefits.

Open BitMEX Account

What Guilds is all about

BitMEX’s Guild is simply a dedicated space where users can come together to form a guild. This space will enable them to exchange ideas, insights and trading strategies, as well as trade competitively as a group. It gets better than that – the objective of a Guild is ultimately to outperform other Guilds.

Depending on the performance of a Guild, it can claim its position on the Guilds Leaderboard. The coveted top three positions come with their perks, and members will win a share in the Guild Pot, which is a weekly prize pool for participants.

To form a Guild, a leader needs to step up and take responsibility. Such leader (preferably an experienced trader) will have to customize and define the identity of the Guild. Afterward, other traders can join the Guild. Conversations are held in a dedicated chat room, which is seamlessly integrated into the trading UI (user interface).

“Guilds is not just designed to drive collaboration amongst the BitMEX trading community, it stands as a testament to our commitment to helping our traders thrive and recognizes the power of social trading. By being part of a Guild, we hope that our traders can unlock their full potential by learning from their cohort.”
—CEO and Group CFO of BitMEX, Stephan Lutz

Current State and What to Expect Next

The βeta launch of Guilds was initiated on June 29, 2023. Quickly, it attracted over 230 testers, who had collectively earned nearly $330,000 in PnL as of last week. Obviously, this is a good testament to the efficacy of the concept and its ability to uplift traders. It also marks a significant and inspiring milestone for BitMEX, which is striving to provide the best experience for its users.

When Guild will launch properly, every BitMEX user will get the opportunity to join any Guild of their choice. Any confident trader can also choose to start a Guild as a leader. A Guild will be able to host up to 49 members.

To start a Guild, a potential leader should have at least 10,000 BMEX staked. He/she must also possess the skills and authority to manage participants of the Guild. When the Guild wins, the leader must also see to the equitable distribution of the Guild Pot.

Wrapping Up

While the community continues to test Guilds, we can expect that more developments will evolve. At the moment, the βeta (testing) stage is going smoothly. One can agree, therefore, that BitMEX is poised to take the social trading experience of its users to the next stage.

July 13, 2023
MaskEX is Going Hard on its Global Expansion Ambitions – Targets a 300% Workforces Growth by Q3

It’s no longer news that MaskEX has ambitious global expansion plans. The next-generation crypto exchange is set to embark on what could be the hiring spree of the year in order to support this ambition. It aims to increase its global workforce by an impressive 300% before the end of Q3, 2023.

At the moment, MaskEX’s workforce stands at 100 employees. The company will hire extensively in the coming weeks and months to bring the total workforce to a robust team of 300 employees. Such a big move will significantly support the company’s expansion plans, especially in the MENA, CIS, and SEA regions.

A Strategic Hiring Drive

As expected, MaskEX is being strategic with its hiring drive. The exchange will focus on recruiting the best talents in the areas of marketing and communications, IT, legal, business development, and compliance. One of the prime objectives is to have a diverse and talented workforce that can competently enhance its operations worldwide.

Speaking about the company’s global expansion plans and what the remainder of 2023 holds, CEO of MaskEX, Eric Yang, said:

“We are thrilled to embark on this global expansion journey. With our innovative solutions and a growing team of exceptional talents, we are well-positioned to bring positive change to the crypto industry and make a meaningful impact on a global scale.”

MaskEX’s Global Expansion Strategy

As established already, MaskEX’s imminent hiring spree is aimed at supporting its global expansion strategy. The exchange is establishing itself in a number of new key locations. Recently, it received initial approval from Dubai’s VARA for the FMP License. Though it hasn’t started operations in the emirate, it’s waiting for final approval from the regulator to bring its innovative services to the region and add UAE citizens to its global customer base.

In preparation for the commencement of operations in the UAE, MaskEX has begun the construction of its headquarters in the city. The state-of-the-art facility is strategically located in the prestigious Mashreq Bank Headquarters in Downtown Dubai. It will open its doors to the public in August 2023.

From its Dubai headquarters and other offices, MaskEX will continue to strive to provide a cutting-edge platform for crypto trading and advanced banking capabilities.

Speaking on the company’s vision and commitment, MaskEX’s Vice President and Chief Strategy Officer, Ben Caselin, said:

“MaskEX’s vision is to bring the benefits of a truly interconnected financial system, enhanced with blockchain infrastructure, to countries and regions that have long been cut off from modern finance. We are particularly focused on emerging markets, where the transformative potential of our services will be more significant.”

Wrapping Up

Over the past couple of years, MaskEX has distinguished itself among cryptocurrency exchanges. In addition to providing an excellent trading platform, the company is in the advanced stages of developing an array of banking capabilities, under MaskEX Pay. Its focus is on helping users to access and utilize a blockchain-powered financial system integrated with legacy infrastructure.

MaskEX doesn’t target individual crypto traders alone. Its products and services will also cater to the needs of businesses in ever-evolving business climates. The company encourages professionals interested in exciting career opportunities in the crypto industry to join its fast-growing team. Applications can easily be submitted through MaskEX official website.

June 1, 2023
Bybit Takes Options Trading to the Next Level With Lucrative Offer for Institutional Traders

In what could be the news of the season for professional crypto traders, Bybit has just announced a big change to its VIP tiers system. The World’s third most visited crypto exchange announced today that professional options traders can now access their elite VIP tiers with trading history from other platforms.

By allowing the use of trading history from other platforms, Bybit is fast becoming one of the friendliest crypto exchanges. Its latest promotion will also see new options traders on the platform enjoy the lowest maker and taker fees (0.01%).

Create Bybit Account

Bybit VIP and Pro Tiers for Professionals

Professional traders on Bybit can start taking advantage of the promotion immediately. They can easily switch to Bybit Options now, and they’ll be able to switch to the VIP and Pro tiers. Instead of relying only on trading history in Bybit, they can now use trading history or trading volume from other platforms.

With the recent development, even a professional Options trader who is new to Bybit can easily enjoy the benefits of its elite VIP and Pro tiers. There’s absolutely no need to start building your trading volume from scratch on the exchange. What’s better? Bybit will also grant newcomers VIP/Pro levels that are two steps higher than their current status.

In comparison to other platforms that typically offer VIP+1 benefits, Bybit is offering VIP+2 benefits and privileges for eligible users. For instance, an options trader with a trading volume of $100 million per month (Pro1 level at Bybit) on another exchange will be pushed two levels up after switching to Bybit. This implies that the trader will switch to the Pro3 level on Bybit instantly. One of the biggest benefits of accessing the VIP tiers is that trading fees become a lot lower with each step.

Making Life Easier for Professional Traders

While Bybit is obviously targeting new users, its commitment to improving the lot of Options traders is really commendable. Last year, the exchange introduced the industry’s first USDC-settled Options contracts for Bitcoin, Ether, and Solana. Under Bybit’s Unified Trading Account, these European-style contracts can be used alongside perpetual contracts and other derivatives.

Speaking about the exchange’s commitment to its old and new users, co-founder and CEO of the exchange, Ben Zhou, said:

“Newcomers to Bybit will soon discover how we are perpetually seeking innovative means to enhance their opportunities and augment their earnings. Bybit is committed to offering the most attractive incentives in the market, and this campaign exemplifies our dedication to the options trading community. We firmly believe that our platform provides the next-level reliability and opportunity professional traders are looking for. We look forward to welcoming new clients to our growing family.”

Wrapping Up

It’s a good time to use Bybit. This is an excellent opportunity for traders on other platforms to switch to Bybit and take advantage of all the goodies it is offering to newcomers. The fact that users can rely on their trading history on other platforms to access the VIP/Pro tiers is an indication of the exchange’s commitment to rewarding new users.

June 1, 2023
Decentralized Trading May Become the New Normal as Kine Protocol, a DEX, Obtains MSB Compliance License in the United States
As the crypto space continues to evolve, it’s becoming clearer that decentralization may become the order of the day. This is becoming a lot more obvious as decentralized exchanges (DEXs) are beginning to compete favorably with centralized exchanges (CEXs).

In what could be described as an important development for the decentralized finance (DeFi) sector, a decentralized exchange called Kine has just obtained the MSB license in the United States. This means the DEX can commend trading services in the country.

Are you intrigued by decentralized trading? Do you want to learn more about how a DEX compares to a CEX? Are you keen to understand the advantages a decentralized exchange (DEX) can offer? We’ll discuss the key things you need to understand right here.

First Things First – What is A Decentralized Exchange?

A decentralized exchange is best defined as a peer-to-peer (P2P) exchange where cryptocurrencies and other digital assets are transacted directly between buyers and sellers. As opposed to centralized exchanges, there is no form of intermediary between a buyer and a seller in a decentralized exchange.

A DEX is often a non-custodial DeFi protocol. This implies that a typical DEX will always allow users to retain possession of their private keys while transacting on its platform. To do this, most DEXs rely on self-executing smart contracts.

How does a DEX compare to a CEX?

From their respective names – decentralized exchange (DEX) and centralized exchange (CEX) – you can have an idea of what differentiates the two types of cryptocurrency exchanges. While the former has no central figure or entity at its core, the latter is often run by a central figure or a company.

Another way to differentiate a DEX from a CEX is to see a DEX as a self-executing exchange where users are in full control of their assets and a CEX as a third-party corporation/exchange that acts as a storage facility for digital assets, regulates exchange transactions, and charges fees.

In many instances, CEXs and DEXs charge transaction fees. But transaction fees in centralized exchanges are often higher. In most cases, a decentralized exchange may charge little or no transaction fees. Again, while users of DEX are generally anonymous, the identity of users of centralized exchanges is known. In fact, most centralized exchanges require users to follow the stringent Know-Your-Customer (KYC) and Anti-Money-Laundering (AML) regulations. Decentralized exchanges are way more flexible.

What Advantages do DEXs offer over CEXs?

From what we’ve discussed earlier, it is a bit easy to point out the advantages a DEX can offer over a CEX. For the sake of emphasis, here’s a highlight of the core advantages decentralized exchanges offer over their centralized counterparts:
- In decentralized exchanges, users control funds whereas the third-party company controls funds in centralized exchanges
- Users and their transactions are kept anonymous in DEX and this is never the case in a CEX
- Hacks and server downtimes are possible in a CEX but are not possible in a DEX
- Transactions are way more affordable in a DEX than in a CEX since centralized authorities charge fees to make profits
- DEX typically offers better security than CEX since it keeps private keys and other user’s details anonymous
- A DEX is also typically more censorship-resistant than a CEX
- A DEX has less potential for manipulation from any party at all, including the creators of the DEX
What’s the Implication of Kine Getting an MSB License?

In the introductory paragraphs, we mentioned that a DEX, Kine Protocol, has obtained the MSB license in the United States. How does this license translate to better days for DEXs?

For a start, MSB stands for Money Service Business. It’s more like an umbrella term that covers business entities involved in the money and financial market. Together with other licensing bodies, MSB is tasked with ensuring the integrity of the financial system and the prevention of illicit financial activities. It protects American investors and users of the money and financial markets.

While it’s not strictly a crypto license, MSB will allow Kine to open trading services in the United States. This implies that the DEX will be able to operate without further restrictions. It also means that American users of the Kine Protocol can be assured that they’re dealing with a safe decentralized exchange.

With its MSB compliance certification, Kine Protocol is set to become one of the most sought-after decentralized exchanges in America. The DeFi protocol is already known for many positive things, including achieving on-chain staking and zero gas fees trading.

Wrapping Up

Decentralized trading has come to stay. Gone are the days crypto enthusiasts depended fully on centralized exchanges, in spite of their many shortcomings. With many DEXs launching and offering diversified benefits, the future of DeFi is looking a lot brighter.

There’s no gainsaying the fact that Kine Protocol will help advance decentralized trading in North America and beyond. By obtaining the MSB compliance license, it has recorded another important feat for the DeFi and entire crypto industry. We hope to see more DEXs obtain financial and crypto licenses to improve compliance and advance the cause of the entire industry, as well as the fortunes of participants.
May 30, 2023