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PLAAS to launch FUTURES platform for farmers

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PLAAS, the leading blockchain platform for African farmers is currently working on launching a futures platform that will create a better market for farmers and their produce.  A futures contract is an agreement to buy or sell a certain commodity/asset or security at a pre-determined price and date in the future. Futures contracts exist in various commodity markets as a way of managing risk while betting on the future price of the underlying asset. Oil, natural gas, maize, gold, are among assets that have futures contracts.

PLAAS Futures involves enabling farmers to sell their farm products at a specific price and date in future.

PLAAS FUTURES Community

The Futures platform will have a community of developers, validators, farmers, investors, and merchants. The validators will play a role in formation and scanning existing futures contracts to ensure they are valid. A validator earns PLAAS tokens every time they validate a contract. In this case, the validators act as miners. When a farmer opens a contract anyone can close it.

Before a contract matures, the validators will ensure all the terms of the contract have been met and payouts made as per the contract. Payouts to the farmer will be made in stages and the items are received by the contract owner when it matures.

Investors buy the futures contract and become the owners of the contract and the contracts are paid for in Bitcoin. For example, there could be eggs futures contract whereby a farmer promises to sell 50 trays of eggs at PLAAS 8 at a future date (30 June). An investor can enter this contract buy paying half the amount of the money required in BTC and these BTC are then immediately changed to PLAAS to activate the contract.The farmer immediately gets the initial payment. At the delivery (contract maturity) investors close the contract and gets the profits.

Contracts are made in PLAAS token while investors close contracts via bitcoin. The investor closes the contract with the expectation that when the future contract matures he/she will be able to make a profit out of the funds he invested in the farmer.

Characteristics of the PLAAS futures contract

PLAAS Contracts are non-fungible meaning tokens are different from each other and each contract is created only when a farmer opens the contract. The contract remains open and when an investor closes it, it is transferred to their wallet.

All contracts will be available on the PLAAS website. Farmers’ interaction with the platform will be through a mobile app for updates and payments.

More certainty for farmers 

With PLAAS futures, farmers get the assurance of a ready market for their products or animals. They also get better certainty in selling their produce at a specific price.

Validators visit the farm and set up RFDI and form a futures contract. There will be SMS updates for farmers on the progress.

Network of validators 

As the platform expands, there will be a network of validators working directly with farmers on the ground. Those wishing to become validators are able to buy a node from PLAAS and serve a certain region based on their capabilities. PLAAS centres will be in various locations adopting agency type of model.

Currently, the PLAAS development team is working on the hardware that will make up the nodes. As long as you buy the node, you will be able to take part in PLAAS futures as a validator. Not your hardware, not your node.

PLAAS tokens are earned 

Instead of giving tokens freely or buying them, they will be earned (mined) by validators. They can then later be traded on exchanges. Furthermore, open contracts can be re-sold before delivery is made.PLAAS is an internal utility token that makes the plaas network complete. It is a token to help smartcontract work,to pay developers,earned by node validators and earned by farmers and used by farmers on the PLAAS farmers market where they can buy and sell agricultural goods.

Future developments 

PLAAS has already conducted successful tests in Kenya with farmers and this is forming the basis for making validator nodes.

PLAAS futures will also be insured. PLAAS will partner with various insurance providers to safeguard the contracts in case of defaults on open contracts.

Overall, PLAAS futures has various advantages for farmers, investors, merchants, and validators.

  1. Global: investors can buy contracts from anywhere in the world without needing to visit the farm
  2. Payments are made in bitcoins further enhancing efficient payments anywhere.
  3. For farmers, futures contracts reduce the uncertainty about the selling price which may drop significantly and they end up making losses.
  4. Farmers also get the necessary financing to enable them to fulfil their obligations
  5. Smart contracts: the making of a futures contract will involve smart contract which self-executes whenever the terms are met, reducing human error.

About PLAAS 

PLAAS is a satoshicentre project, a leading bitcoin and lightning community hub in Botswana. Alakanani Itireleng, the bitcoinlady is the founder of Satoshicentre and co-founder of PLAAS. Alakanani is one of the foremost bitcoin and blockchain advocates in Africa. She is well known for supporting and promoting bitcoin awareness in Africa since 2013 and working with numerous successful projects at satoshicentre. She has spoken at various conferences in Europe, North America, Russia and throughout Africa.

Farmers in Kenya and Botswana will be able to take part with expansion to other countries in Africa being undertaken later.  You can check out more details about PLAAS Futures PLAAS whitepaper.

 

The post PLAAS to launch FUTURES platform for farmers appeared first on coinweez.

Source: https://coinweez.com/plaas-to-launch-futures-platform-for-farmers/?utm_source=rss&utm_medium=rss&utm_campaign=plaas-to-launch-futures-platform-for-farmers

Blockchain

Kraken Daily Market Report for September 24 2020

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Overview


  • Total trading volume at $237.5 million, as Bitcoin and other coins correct for yesterday’s losses and trended positively all day.
  • Very good returns across the board. LINK +29%, SNX +25%, and BAL +18%. Several cryptos had over 10% returns, and only DAI (a stable coin) posted margin losses.
  • Trading volume surged around 05:00, 10:00 and 15:00 UTC; however, none of these surges occurred around major price swings.

September 24, 2020 
 $237.5M traded across all markets today
 Crypto, EUR, USD, JPY, CAD, GBP, CHF, AUD 
XBT 
$10731. 
↑4.9% 
$113.9M
ETH 
$348.95 
↑8.9% 
$49.9M
USDT 
$1.0001 
↑0.07% 
$24.0M
LINK 
$9.8494 
↑29% 
$23.4M
DOT 
$4.3905 
↑9.4% 
$5.66M
XRP 
$0.2328 
↑5.2% 
$4.3M
USDC 
$1.0001 
↑0.0% 
$3.59M
XTZ 
$2.1528 
↑10% 
$3.17M
LTC 
$44.929 
↑4.6% 
$1.95M
BCH 
$216.25 
↑4.1% 
$1.55M
OXT 
$0.3025 
↑15% 
$1.16M
ETC 
$5.7974 
↑0.9% 
$1.16M
ADA 
$0.0826 
↑7.8% 
$1.1M
XMR 
$91.977 
↑5.6% 
$1.09M
SNX 
$4.625 
↑25% 
$1.08M
OMG 
$3.1119 
↑13% 
$975K
ATOM 
$4.4801 
↑17% 
$889K
EOS 
$2.5345 
↑3.9% 
$704K
ALGO 
$0.2943 
↑9.4% 
$700K
DAI 
$1.0110 
↓0.02% 
$648K
KAVA 
$1.9908 
↑4.5% 
$647K
TRX 
$0.0262 
↑5.8% 
$537K
PAXG 
$1879.1 
↑1.0% 
$515K
XLM 
$0.0704 
↑4.5% 
$459K
WAVES 
$2.3659 
↑9.1% 
$380K
ZEC 
$55.184 
↑6.5% 
$368K
MLN 
$32.272 
↑15% 
$327K
COMP 
$138.60 
↑8.9% 
$327K
XDG 
$0.0026 
↑3.3% 
$270K
REP 
$14.323 
↑10% 
$263K
ICX 
$0.4135 
↑12% 
$236K
BAT 
$0.2260 
↑6.1% 
$235K
QTUM 
$2.3184 
↑6.7% 
$209K
KNC 
$0.9387 
↑9.3% 
$186K
KSM 
$36.864 
↑11% 
$161K
SC 
$0.0026 
↑6.0% 
$148K
GNO 
$41.569 
↑9.0% 
$147K
DASH 
$67.884 
↑4.8% 
$140K
NANO 
$0.7512 
↑11% 
$127K
CRV 
$0.9915 
↑12% 
$124K
LSK 
$1.2075 
↑7.3% 
$84.0K
BAL 
$15.420 
↑18% 
$70.9K
STORJ 
$0.3379 
↑11% 
$58.2K
REPV2 
$14.349 
↑13% 
$42.0K



#####################. Trading Volume by Asset. ##########################################

Trading Volume by Asset


The figures below break down the trading volume of the largest, mid-size, and smallest assets. Cryptos are in purple, fiats are in blue. For each asset, the chart contains the daily trading volume in USD, and the percentage of the total trading volume. The percentages for fiats and cryptos are treated separately, so that they both add up to 100%.

Figure 1: Largest trading assets: trading volume (measured in USD) and its percentage of the total trading volume (September 24 2020)



Figure 2: Mid-size trading assets: (measured in USD) (September 24 2020)



Figure 3: Smallest trading assets: (measured in USD) (September 24 2020)



#####################. Spread %. ##########################################

Spread %


Spread percentage is the width of the bid/ask spread divided by the bid/ask midpoint. The values are generated by taking the median spread percentage over each minute, then the average of the medians over the day.

Figure 4: Average spread % by pair (September 24 2020)



.


#########. Returns and Volume ############################################

Returns and Volume


Figure 5: Returns of the four highest volume pairs (September 24 2020)


Figure 6: Volume of the major currencies and an average line that fits the data to a sinusoidal curve to show the daily volume highs and lows (September 24 2020)



###########. Daily Returns. #################################################

Daily Returns %


Figure 7: Returns over USD and XBT. Relative volume and return size is indicated by the size of the font. (September 24 2020)



###########. Disclaimer #################################################

The values generated in this report are from public market data distributed from Kraken WebSockets api. The total volumes and returns are calculated over the reporting day using UTC time.

Source: https://blog.kraken.com/post/6433/kraken-daily-market-report-for-september-24-2020/

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Blockchain

New Zealand Digital Asset Exchange Dasset Adds Bitcoin SV Support

The exchange has added support and two new trading pairs for Bitcoin SV.

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New Zealand digital asset exchange, Dasset, recently announced that it has officially introduced support for Bitcoin SV (BSV) on its trading platform, with the BSV/NZD and BSV/BTC trading pairs now listed and available for use on the exchange.

According to a statement from the exchange on Thursday, Dasset has decided to launch the two new trading pairs, including a fiat currency trading pair for BSV, following the continued growing interest in Bitcoin SV.

The Most Diverse Audience to Date at FMLS 2020 – Where Finance Meets Innovation

The SV in Bitcoin SV stands for Satoshi Vision, with the virtual currency marketing itself as the “original Bitcoin” which stays true to the goals of pseudonymous founder Satoshi Nakamoto. The crypto was born following Bitcoin Cash suffering a hard fork in 2018.

The main aim of the virtual currency is to deliver stability and achieve scalability. According to the project’s website, “Bitcoin SV is intended to provide a clear choice for miners and allow businesses to build applications and websites on it reliably.”

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Jimmy Nguyen, President of the Bitcoin Association
Jimmy Nguyen, President of the Bitcoin Association and BitcoinSV advocate.

Commenting on the changes at Dasset, Jimmy Nguyen, Founding President of Bitcoin Association said in the statement: “A key element in ensuring that the Bitcoin SV growth story continues across the globe is making the process of onboarding new users a fast and simple process. 

“With the introduction of a new fiat on-ramp to buy and sell BSV at Dasset, that process just got easier for people across New Zealand and Australia, who now have another reputable, lawfully-registered service provider to use as an onboarding option into the Bitcoin SV ecosystem.”

Dasset launched BSV to give users choice

Founded in 2017, Dasset is a digital asset trading platform serving retail, professional and institutional customers in New Zealand and Australia. The company is registered as a Financial Service Provider in New Zealand, however, it’s not regulated by the Financial Markets Authority (FMA) as the country does not yet have specific crypto legislation.

CEO of Dasset Stephen Macaskill
CEO of Dasset Stephen Macaskill
Source: LinkedIn

“Cryptocurrency has always been a battle of ideas,” added the CEO of Dasset Stephen Macaskill in the statement. “We recently listed Bitcoin SV to give customers the opportunity to discover, and ultimately decide, which crypto assets will best serve their digital future.”

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Blockchain

Chainlink up 30% following six-week downtrend and developer selloff

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Following a six week downtrend from its all-time high, LINK has rebounded 30% in the past 24 hours after a reported developer selloff resulted in downward pressure on the oracle protocol token’s price.

The strong rebound in the Bitcoin price, a sea of green among DeFi coins and a new Chainlink partnership announcement have all contributed to the price increase.

Chainlink’s native token had fallen over 60% from its peak of $20 mid-August, bottoming out at crucial support levels around $7.50 on Thursday, September 24. The six week downtrend appears to have been been accelerated by multiple sales of large chunks of LINK from what UK crypto publication Trustnodes reports is the dev address.

This ‘dev address’ has been selling batches of 500,000 tokens, worth approximately $4.8 million per batch at current prices, regularly over the past six months. The frequency of sell-offs increased after LINK hit its all-time high last month. The address shows several outflows to a Binance address but then the trail goes cold.

There are around 26 million tokens remaining in this address, worth an estimated $258 million at current prices.

Image – Etherscan.io

Since its peak, LINK market capitalization has declined from more than $7 billion to around $3 billion currently, however it remains one of the best performing crypto assets this year surging over 1000% from January 1st to its all-time high. At current prices, it is still up 450% since New Year’s day.

The selloff has dropped prices back to a crucial support level and the ‘Link Marines’ appear to have chosen this point to load up again. The $7 to $8 price zone was where LINK held in July before its epic run up to $20. A return to that level this week has catalyzed buying pressure as traders eyed a long overdue bounce yesterday.

That bullish momentum mounted resulting in a surge of 30% in less than 24 hours as LINK prices topped out at $10 a few hours ago. Since then, prices have retreated a little and are currently hovering around $9.80.

Chart – Tradingview.com

The price bump came hours after Chainlink announced a partnership with travel company Travala.com. LINK has been integrated as a payment method on the crypto friendly hotel booking platform and token holders can book accommodation in over 2.2 million hotels and homes in 230 countries.

Bitcoin’s momentum may have also had an effect. The king of crypto is well known for its capacity to move the rest of the market and it too bounced off support at $10,250 with a gain of 5% in push to $10,750 over the past 24 hours.

Source: https://cointelegraph.com/news/chainlink-up-30-following-six-week-downtrend-and-developer-selloff

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