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INX Limited Announces Effectiveness of Security Token IPO 

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22nd August, 2020, NEW YORK, United States – INX Limited today announced that the Securities and Exchange Commission (SEC) has declared as effective its registration statement on Form F-1 filed in connection with the initial public offering (the “Offering”) of up to 130 million INX Security Tokens (the “INX Tokens” or “Tokens”).  

 

INX has set the Offering price at $0.90 per Token with a minimum investment of $1,000.  It is anticipated that the offering will begin on August 25, 2020 at 10am Eastern Daylight Time at https://token.inx.co/.

 

INX intends to use a portion of the net proceeds raised from the sale of INX Tokens in the Offering for the continued development and operation of INX Trading Solutions, a regulated solution for the trading of blockchain assets, including cryptocurrencies, security tokens, and their derivatives, and for the establishment of a cash reserve fund.   

 

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission (SEC) on August 20th, 2020. Copies of the registration statement can be accessed by visiting the SEC website at this page. The offering is being made only by means of a prospectus. A final prospectus describing the terms of the offering has been filed with the SEC and forms a part of the effective registration statement. 

 

Copies of the final prospectus relating to the Offering may be obtained for free by visiting EDGAR on the Securities and Exchange Commission’s website at www.sec.gov (click here). Alternatively, copies of the final prospectus may be obtained for free by sending an email to INX at [email protected].  

 

About INX Limited 

INX Limited, a Gibraltar-based private company formed in 2017, is developing INX Trading Solutions, a single entry-point for our customers for the trading of cryptocurrencies, security tokens, and their derivatives. 

 

Media Contact Details

Contact Name: Alona Stein (For INX) 

Contact Email: [email protected]

 

This press release is not a prospectus and does not constitute an offer to sell or a solicitation of an offer to buy any securities in any jurisdiction in which such offer or solicitation of sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.  This press release is being issued pursuant to and in accordance with Rule 134 under the Securities Act of 1933.  No securities regulatory authority has either approved or disapproved of the contents of this press release.  

 

INX Limited is the source of this content. This Press Release is for informational purposes only. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. Cryptocurrencies and tokens are extremely volatile. There is no guarantee of a stable value, or of any value at all.

About Bitcoin PR Buzz: Bitcoin PR Buzz has been proudly serving the crypto press release distribution needs of blockchain start-ups for over 8 years. Get your Bitcoin Press Release Distribution today.

 

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Ethereum 2.0 Deposit Contract Reaches Threshold Value in Time for Dec 1 Launch

The deposit contract for Ethereum 2.0 has reached the minimum value in time for the proposed Dec 1 launch. The beacon chain will run parallel to the current network. Ethereum 2.0’s beacon chain is set to launch as the deposit contract reached the threshold value on Nov 23. The staked value reached the 524,288 ETH … Continued

The post Ethereum 2.0 Deposit Contract Reaches Threshold Value in Time for Dec 1 Launch appeared first on BeInCrypto.

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The deposit contract for Ethereum 2.0 has reached the minimum value in time for the proposed Dec 1 launch. The beacon chain will run parallel to the current network.

Ethereum 2.0’s beacon chain is set to launch as the deposit contract reached the threshold value on Nov 23.

The staked value reached the 524,288 ETH required in time for the anticipated Dec 1 launch date. Had it missed the deadline, ETH 2.0 would have launched a week after staking reached the threshold value.

Ethereum 2.0 Primed for Launch

Ethereum will now prepare itself for one of the biggest upgrades in its lifetime. The upgrade will bring a change to the governance model, as well as improvements to scalability and performance. However, the road ahead is long, as many of the changes will be executed in a phased manner, starting with Phase 0.

The deposit contract for Ethereum 2.0 went live on Nov 4, quickly gaining some staked value. However, there was a period where the staking contributions seemed to stagnate. Many were not troubled, as a similar contribution in Ethereum’s development saw funds flowing close to the deadline.

The 16,384 validators are expected to receive higher than average returns, which will decrease as more ETH gets staked over time. The beacon chain will run alongside the current Ethereum blockchain, with the stakers being its primary participants.

ETH Transfer Value

Industry Insiders Cheer the Milestone

Several prominent figures in the industry celebrated the milestone.

EthHub developer Eric Conner and content creator Evan Van Ness were among them. Meanwhile, Messari founder Ryan Selkis claimed that he was always confident that the contract would reach the threshold value.

Ethereum co-founder Vitalik Buterin, on the other hand, assured users that they could still stake. Buterin himself contributed $1.35 million towards the deposit contract adding that migration towards proof-of-stake would not arrive until 2021.

Several companies have also staked large sums in ETH 2.0, including Dubai’s IBC Group. The investment was made in partnership with CanETH, which praised the move to a proof-of-stake model.

Ethereum’s price hit a 30-month high in light of the events, and is now over $600. 2020 has been a strong year for the asset, with a YTD performance that has pleased professional investors.

Grayscale Investments added over $58 million to its Ethereum Trust this year.

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Rahul Nambiampurath is an India-based Digital Marketer who got attracted to Bitcoin and the blockchain in 2014. Ever since, he’s been an active member of the community. He has a Masters degree in Finance. <a href=”mailto:[email protected]”>Email me!</a>

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Source: https://beincrypto.com/ethereum-2-0-deposit-contract-reaches-threshold-value-in-time-for-dec-1-launch/

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YFI’s Andre Cronje Unveils Multi-Purpose DeFi Protocol Deriswap

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Andre Cronje, the brain behind the popular DeFi protocol Yearn Finance and the most expensive cryptocurrency YFI, has unveiled yet another DeFi protocol called Deriswap.

Obsessed With Capital Efficiency

The project focuses on capital efficiency, an aspect of DeFi that Cronje said he is obsessed with. The YFI creator is set to change the current segmented liquidity, which only allows users to choose one of Swaps (Uniswap, Sushiswap, Bancor, etc.), Options (Deribit, Hegic, Opyn, etc.), and Loans (Aave, Compound, DyDx, etc.). 

He described Deriswap as a protocol that combines multiple DeFi services, including Swaps, Options, and Loans, into a capital-efficient single contract. According to the developer, this allows the interaction between two assets that make up the pair. 

For Swaps, Cronje explained that the contract on Deriswap utilizes the standard Uniswap x * y = k. For example, suppose Liquidity Providers (LPs) provide ETH-BTC as liquidity. In that case, the protocol will allow traders to swap BTC and ETH while using the oracle’s time as the weighted average price (TWAP). 

No Deriswap Token Yet

He notes that Deriswap uses the Black Scholes option pricing model to quote options. While Futures are an extension and simplification of Options, Loans are an extension and simplification of Futures. To get a loan, the user will pay a premium and collateral to access the borrowed assets. 

Lastly, the markets (loan, futures, and options) can be tokenized via Non-Fungible Tokens (NFT) to create secondary markets. 

As with many DeFi protocols, it is expected that Deriswap will have a token, and maybe with a limited supply. As a result, DeFi degens are hoping to dive in early. However, the protocol is currently under audit; hence, there’s no official Deriswap token yet. 

Cronje Continues To Explore DeFi

Since YFI’s success, Andre Cronje has become a prominent player in the DeFi ecosystem. The developer is always exploring and “experimenting” with DeFi products, even though some cost investors money due to exploits

Despite the recording failure with Eminence protocol, Cronje’s last project Keep3r Network was quite different as Keep3r’s KP3R token rallied more than 2000%, with the price moving from $10 to over $200 within a few days.

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Source: https://cryptopotato.com/yfis-andre-cronje-unveils-multi-purpose-defi-protocol-deriswap/

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Inevitable: Ethereum Classic’s Latest Hard Fork Called Thanos Scheduled for November 29th

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Less than two months after its latest network upgrade, Ethereum Classic plans to undergo another one on November 29th. Dubbed Thanos, the new hard fork will enhance security while maintaining its compatibility with Ethereum.

Thanos Is An Inevitable ETC Network Upgrade

The Ethereum Classic team would like to quickly forget the summer of 2020. In the span of one month, the network was subject to three separate 51% attacks.

The Ethereum Classic Core developer team and Ethereum Classic Labs decided to counteract the growing securities issues by implementing the Modified Exponential Subjective Scoring (MESS) solution on October 2nd.

MESS went live on the Mordor Testnet after passing “rigorous stress tests and simulated attacks.” It aimed to prevent attacks by making large block reorganizations up to “31x more expensive, removing any profit motive.”

However, the ETC Cooperative and Cardano developer IOHK published a report disputing the claim that the MESS update will provide “robust security.” Moreover, it argued that there’s “no guarantee that further attacks will not succeed.”

The latest response from the ETC developer team and ETC Labs has tapped the Marvel Universe for its name – Thanos.

The statement described the upgrade as an “important milestone for ETC as the network continues to drive innovations that will support existing miners and attract new ones while continuing to maintain compatibility with Ethereum.”

The Next Logical Step

According to the announcement, the Mordor Testnet activation occurred on block 2,520,000 – on October 18th, 2020. The ETC Mainnet activation is expected to take place at block 11,700,000 – around November 29th, 2020.

Consumers need to upgrade their node software to a fork compatible version to Core-geth v1.11.16 or later to ensure the success of the hard fork.

Founder and Chairman of Ethereum Classic Labs, James Wo, believes that the Thanos network upgrade will enhance the security while helping ETC to “distinguish itself and increase functionality for its users.”

“The Thanos hard fork is the natural next step for the network, reducing the DAG size to help cultivate a more distributed and healthy mining ecosystem, increasing hash rate, and allowing miners to continue mining ETC and for new miners to join the ecosystem.” – Wo added.

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Source: https://cryptopotato.com/inevitable-ethereum-classics-latest-hard-fork-called-thanos-scheduled-for-november-29th/

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