The YIELD App Beginner's Guide to DeFi demystifies decentralized finance

As regular readers of our blog will know, YIELD App’s mission has long been to simplify the often bamboozling world of decentralized finance (DeFi) to ensure that anyone is able to take advantage of its wealth creation opportunities.

DeFi has grown to be a formidable force in the cryptocurrency arena, with total value locked now exceeding $76 billion - up from just $914 million this time last year. This mind boggling 8,215% growth reflects the enormous appeal of DeFi, which has opened up a new financial world for many millions of people across the globe.

From the creation of stablecoins in 2017 through to the accessible and profitable world of DeFi banking, this new ecosystem boasts every type of depositing, trading, staking and swapping opportunity a user could imagine. While this presents an appetising smorgasbord of possibilities for users, knowing where to begin can be tricky.

The YIELD App Beginner's Guide to DeFi demystifies decentralized finance

The TVL for SOV swaps (rBTC/SOV and SOV/rBTC) on Sovryn in the last 24 hours was $5.55M, with a cumulative volume of $21,48M for the last six days.

For. a. token. not. available. on. any. #DeFi. #CEX. or #DEX. except. https://t.co/xC9WpVvptD



In the last 6 days, the # of wallets staking in bitocracy has grown from 196 to 917,

the amount staked which will be earning a % of fees generated has grown from 14,750.68 to 101,973.17 SOV.

That's approximately $7.1M at today's SOV price .

source:https://t.co/UUrmm73z8R



Clarification: Chart one is Total Volume, not Total Value Locked (brainfart), and Chart two is only showing the day on day growth numbers, not the total number of wallets staking to date

elcome to Credits Weekly Digest!
 
Here you can find all our news and updates that have taken place over the past few days.
 
The Process of Blockchain Renewal
The tech team at Credits ran a performance wallets test and finally got good results this Wednesday. These changes have been made to the new build. We had to optimize the wallets' structure to get the optimal state of the write-to-disk blockchain wallets. As the preview analysis showed, individual elements have been meticulously developed, but some of the ties ceased to work steadily in conjunction. And the result of it is, erroneous wallet states appeared again on the TestNet. We are currently conducting a further study on this matter. All the activities will be refined and updated in subsequent progress reports as further tests are conducted.
 
Credits Mobile Wallet Updates
The ongoing activities on Credit Mobile Wallet were focused on the implementation of additional features and improvement. As a result, we have fixed several bugs and added the following updates:
New show up animations of the main elements;
New popups;
Updated design for transaction history;
The part loading of all feeds in the app;
New template system for loader parts of screens;
The process of screen preloading;
New preloaders (on-screen ones);
New pin screen;
Validly supported exchange pairs (display process);
Profile avatar.

Update on the SOV reward distribution timings for the 50k BTC/USDT amm pool.

Users will not see their SOV rewards on the dapp until sometime tomorrow.

Long version:
Once again, we missed a detail while developing at hyperspeed in a production environment. No funds are at risk, only a challenge for users' patience to GET THEIR SOV.

The script that was deployed did not include an important variable - disbursal from the individual vesting contracts being created for each user need to be transferred to the staking contract, in order that they can be displayed in the UI of the dapp. This means that not a single user can "see" their SOV rewards.

As explained in the announcement above, the vesting script needs about 12 hours to complete. The choice that the dev team faced when realizing that the initial vesting contracts were not displaying rewards in the dapp was between:

1. stopping the script, and adding the variable, and running it again.
2. letting the script complete, and then running a second script to transfer the rewards from the vesting contract to the staking contract.

Both choices would have resulted in delays to users "seeing" their sov rewards in the dapp. The team chose to let the initial script run, then check for any errors (missed contract creation), then to process any of those by hand which threw errors to make sure of a 100% success rate, and only then to deploy the second script moving the sov from the vesting contract to the staking contract.

The second script that will be run to move from vesting to staking will, however, have an optimization proposed by one of the devs which allows the script to run four transactions at a time instead of one by one as was the case with the initial script deployed. This will decrease the time needed from 12 hours to 3 hours.

Once again, thank you for your patience and trust while we develop Sovryn in realtime with all of you as betatesters.

Devs have started running the SOV rewards distribution script for the 50k BTC/USDT amm pool. 25k for the rBTC LPs and 25k for the rUSDT LPs

The script will take a minimum of 12 hours to complete because it has to create 1094 individual vesting contracts.

Therefore, we have no way of telling an individual user exactly when THEIR portion of the rewards will appear on their own wallet - so we appreciate your calm patience as this process completes

Bitberry X Polygon Announces Strategic Partnership

We are pleased to announce that Bitberry supports Polygon (formerly “Matic”) mainnets, which means Bitberry users will be able to connect to the Polygon mainnet via the Bitberry platform and access web wallets and Polygon-based DApps.

Polygon also announced that it will provide more convenient wallet services to users who use Bitberry’s wallet service through additional subsidy investments as well as strategic support for Bitberry and co-marketing together using Bitberry’s strong user base wallet service and DeFi platform Bitberry swap in Korea.

This means that users of Bitberry can benefit from Polygon while Polygon can secure strong mass-adoption using Bitberry Wallet users in Korea and Bitberry’s KakaoTalk login function.

https://medium.com/bitberryfinance/bitberry-x-polygon-announces-strategic-partnership-17e1cab09ea5

With all the action lately in the jungle, we are expecting a slight delay in the launch of our activities with @value_defi

The new start time for our initiatives will be May 7th 16:00 UTC. Thank you so much for the understanding & patience

FastBTC is now operating again after developers identified and corrected issues relating to old transactions not getting processed due to the recent optimization deployment, which configured a new multisig for bridging transactions.

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More than a clickbait title, this extremely well researched & produced segment by @graham Invests, a genesis investor in Sovryn, documents everything important about the Sovryn platform / protocol that is driving price discovery in the early days of the project.

https://www.youtube.com/watch?v=VFgZwICrYBE

Hey , new pool coming soon  -  BINGUS POOL

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The @BingusToken pool is almost live!

Head over now to http://ApeSwap.Finance/ApeZone to stake your $GNANA and earn $BINGUS  Over $85,000  worth loaded up in the pool!

Looking to learn more about $BINGUS? Check out these cool cats over at http://bingus.finance

https://twitter.com/ape_swap/status/1389311265391194112

Semkhor Partner Update

Committed to bringing its top-tier talent network to the Phantasma blockchain as part of the recent partnership, Semkhor and its CEO David Shapiro is preparing to expand their blockchain portfolio on Phantasma with multiple additional value adding releases.

Aiming to enrich and deepen the interaction between artist and audience through utilization of Phantasma’s NFT technology, Semkhor’s Crypto initiative semkhor.io is collaborating with a select group of top-tier creators. Their first release brings Kevin Smith’s beloved characters, Jay & Silent Bob, into the Cryptoverse through unique NFT collectibles — one of which provides the owner with an uncuttable crypto cameo in the third installment in the Clerks movie franchise.

Upcoming NFT releases include Dylan McDermott, Marc Anthony, Robert Whitman, Gerardo and Chris Jericho, and the value adding benefits for owners will keep growing. Each project is carefully developed and will include access to games, direct artist interaction, original content and interaction between multiple NFTs from different drops.

Currently, Semkhor is working with Crypto experts to port a wide range of services that will bring the value of decentralized finance into the entertainment industry. Semkhor plans to collaborate with GOATi Entertainment on using the Phantasma blockchain to rapidly bringing this project to market.

As part of this growing product offering, Semkhor plans to hold a TGE on the Phantasma blockchain. In recognition of early supporters, every owner of an NFT developed by Semkhor leading up to the release of its own token will get priority access to participate in this offering.

David Shapiro
CEO, Semkhor

https://twitter.com/PhantasmaChain/status/1389299461130686465

https://phantasma.io/semkhor-partner-update/

@Alchemydao
, a platform for turning NFTs into liquid, community-controlled DAO, is now live on Polygon!

Alchemy is a no-code platform for creating fully functional DAO's is moving towards Polygon’s near-instant and low-cost transactions to provide seamless user experiences.

FastBTC is being updated and will result in the UI showing a "in maintainance mode" notice for approximately 30 minutes while the nodes update, which means that the service will be temporarily unavailable. Update the dapp in 30 mins, and experience FASTER FastBTC!

With this update, transactions complete Immediately after 1 confirmation on the bitcoin side, which translates to an  average of 10-15 minutes for a transaction to complete, depending on the gas-fee settings

Cointrader has added SOV to their charts:

https://charts.cointrader.pro/charts.html?coin=SOVRYN%3AUSD

https://twitter.com/cointrader_pro/status/1389141166076178438?s=2


"#DeFi will improve with time."

Sober, well grounded piece by Kyle Torpey, with a mention of Sovryn.

https://cryptonews.com/exclusives/how-bitcoin-and-defi-are-completely-different-phenomena-10042.htm

ATH hit ₿ 0.00111236 (~ $ 63.91)

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Should Sovryn postpone launching SOV on uniswap, and instead use the recently completed ethbridge to draw ETH liquidity to our platform instead?

Weigh in on the discussion started by SOV Holder Nakameowdough  on our forum:

https://forum.sovryn.app/t/sovryn-is-a-bitocracy-not-an-ethocracy-a-critique-on-the-uniswap-plan/780

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Provide feedback on the SIP that @Dark Knight of  https://babelfish.money/ is proposing to launch $FISH on Sovryn, in our forum:

https://forum.sovryn.app/t/drafting-a-sip-for-babelfish/734

PAY DAY

We've completed all payouts
See image for payout numbers

Be sure not to miss out next week payments, and start investing over here https://investing.moneybyte.org/hedged-pools/



We know due to time zone differences it is difficult to get online all together. Hence why we are recording ALL our PODCASTS and put them on our YouTube channel.

The PODCAST we did today, we also recorded, and now it is online on our YouTube channel for you to listen/watch back...

Enjoy https://youtu.be/5cHuXmH1BH0

▬ Contents of this video  ▬▬▬▬▬▬▬▬▬▬
0:00​​ - Intro
0:09​​ - Welcome by Hercy (Pete Newland)
0:35​​ - Bitcoin and crypto prices
1:31​​ - Crypto news and articles
2:34​​ - MoneyByte news and talk by Jimmy (Willem de Boer)
6:39​​ - Aftertalk about MoneyByte and the Hedged pools by Hercy (Pete Newland)
7:56​​ - HotBit news
8:34​​ - New future features on MoneyByte
9:13​​ - Pauls view on the platform (by Paul Neumayer)
9:52​​ - Hercy on the MoneyByte NET ASTER VALUE
10:35​​ - CHINA crypto news
11:38​​ - Jimmy's final comments
12:26​​ - Hercy closing the podcast!
13:03​​ - Outro

Weekly DEV Update of Stakenet DEX

What we have achieved
- Internal tests of AMM logic and UI, found some bugs/issues

Current internal development:
- Further debugging of AMM
- Closed Beta users testing AMM UI V1 (once devs have debugged major issues)
- WEB DEX: Layer 2 wallet

What's coming (next weeks)
- UI Updates
- Updating to LND12
- More coins & optimizations  to MCLW
- Chain updates, LP architecture, cold key LP storage

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ALERT

The XSN token created recently on binance smart chain is a scam. There is no affiliation whatsoever with the Stakenet project. Anyone can mint a new token on ETH / BSC and such chains with no approval or verification!

Chainlink’s decentralized oracle networks support the growth of #DeFi by securely bringing external data on-chain. Easily integrate #Chainlink’s pre-built WAVES/USD Price Feed to build derivatives markets around @wavesprotocol’s native asset, already relied on by @Bondedfinance.

https://data.chain.link/waves-usd

PROOF OF REGISTRATION
Forum Username: NotHatinJustTrollin
Forum Profile Link: https://bitcointalk.org/index.php?action=profile;u=409621
Telegram Username: @notttrollin
Participated Campaigns: Signature
BSC Address: 0xB476f5027386D97A70726174d19bfbb7a634D787