Mediaboss Marketing

Description

Similar to Ethereums ERC-20, all smart contract blockchains have a stipulated token standard that informs the creation, issuance, and deployment of native tokens. BEP-20 is the token standard used on BNB Chain (previously known as Binance Smart Chain). Whether you intend to receive, trade, or store any token on the BNB Chain, you will need Read more

Similar to Ethereums ERC-20, all smart contract blockchains have a stipulated token standard that informs the creation, issuance, and deployment of native tokens. BEP-20 is the token standard used on BNB Chain (previously known as Binance Smart Chain).

Whether you intend to receive, trade, or store any token on the BNB Chain, you will need a BEP-20 wallet address which can be obtained from wallets or platforms compatible with BNB Chain. This is where Metamask and Trust Wallet come in handy.

Metamask and Trust Wallet are multi-chain self-custody cryptocurrency wallets, meaning they support several blockchains and their respective token standards, including ERC-20 and BEP-20 addresses. In this article, well explore how you can find BEP-20 wallet addresses on both Metamask and Trust Wallet.

If you dont have a Metamask wallet already, then you will need to download it to create an account. Metamask is available on mobile and desktop (as a browser extension). For the purpose of this article, well be using the Chrome extension to guide you. However, the steps to creating and finding BEP-20 on Metamask are the same, regardless of the version used.

Open your Metamask wallet. Afterward, sign into the account you created by entering the password.

Click on the drop-down by the top left corner to switch between different blockchain networks. Select the BNB Chain if the option is available. But if the option is not available, you will need to add the BNB Chain manually.

Click the Add Network and enter the following details to the relevant fields to add the BNB Chain to your Metamask wallet.

Cross-check the details you entered and click on the Save button.

After adding the BNB Chain configuration details, go back to the Metamask home screen and click on the Network Switcher tab discussed in Step 2. Then, select BNB Chain (i.e., Binance Smart Chain).

Next, click on the three-dot icon by the top right corner, then select Account details.

You should see your BEP-20 address and a QR code, with which you can send only BEP-20 standard tokens to your wallets.

Some token balances may not be displayed, except if you import them. This article delves further into how to import tokens on Metamask.

Similar to Metamask, Trust Wallet is also available on mobile (Android and iOS devices) and browsers as extensions. For those new to Trust Wallet, you will need to create an account and set up other necessary details, such as a password and seed phrase backup.

The user interface on Trust Wallets extension is quite different from that of the mobile app. So, well show you how to create, add BNB Chain, and find the BEP-20 address on Trust Wallet mobile and browser extension.

After creating a new account, the very next step is switching to the BNB Chain.

Click on the top left icon that shows Ethereum to switch between different networks. By default, you should see the option to select BNB Chain (Binance Smart Chain).

However, if the option is not provided, then you can continue with the next step to manually add BNB Chain.

Next, click on manage networks and add custom tokens.

Next, enter the following details in the relevant fields to add the BNB Chain to your Trust Wallet.

Network Name Binance Smart Chain

New RPC URL https://bsc-dataseed.binance.org/

Chain ID 56

Symbol BNB

Block Explorer URL https://bscscan.com

Next, select BNB Chain (i.e., Binance Smart Chain) you just added from the Networks tab.

After adding the BNB Chain network, the next step to finding your BEP-20 address is by searching for the BNB coin. To do this, click on the receive button.

Next, scroll down to find the BNB coin.

You should see your BEP-20 wallet address after you click on the token.

Assuming you have created an account already, launch the Trust Wallet mobile app and click on Add Tokens.

Next, select BNB Smart Chain to add the coin to your wallet.

Go back to the home screen and click on the BNB coin you just add.

Next, click on receive, and you should see your BEP-20 wallet address on Trust Wallet. You can then copy and fund your BEP-20 wallet using the address.

See the article here:

How to find BEP-20 wallet address on Trust Wallet & Metamask ... - Cryptopolitan

Curved Finance is a growing DeFi protocol that looks like it has a lot of potential. It does have a lot of potential as many crypto enthusiasts use them to conduct a wide range of services. However, they suffered a hack which set them back on many things. The amount of money they lost in the hack reached a whopping $70 million. Binance Labs, the crypto exchanges venture capitalist and incubator arm, plans to invest $5 million in CRV, Curve DAOs token. Apparently, this investment will be part of the Curved Finance revival.

Binance Labs, the crypto exchanges venture capitalist and incubator arm, wants to spend a whopping $5 million into the native token of Curved Finance. Apparently, this deal will open a lot of opportunities for the project. In fact, many of the supporters of the DeFi protocol are happy with the news.

The new deal with Binance is not only for the native token but the DeFi protocol will have more options to explore. Furthermore, Binance wants to deploy the CRV token on the Binance Smart Chain (BNB Chain). Apparently, this is quite huge for CRV, as it means more traders will have access to it.

It looks like Binance wants to act as the big brother of crypto companies. Moreover, the fact remains that Curved Finance is the second largest DeFi exchange in the world, with $2.4 billion in total value locked (TVL) per DeFiLlama. Even more, this DeFi exchange is the largest exchange for stablecoin swapping. So the hack in their protocol affected them to the core.

According to the Co-Founder of Binance and Head of Binance Labs Yi He, the new development from Binance is an act of support. Binance Labs acknowledged Curved Finances condition as delicate. Hence, they want to help them stand up on their feet. Moreover, a massive brand like Binance coming to your rescue is an incredible record.

The hack on Curved Finance was something that many crypto enthusiasts didnt expect. Nevertheless, it did happen, affecting the crypto protocol. Apparently, the hacker accessed some critical resources and permissions and used them against the CRV ecosystem. More than 70 million dollars went down the drain.

However, the protocol told the hacker to return about 90% of the stolen funds and keep 10%. Fortunately for Curved Finance, the hacker did return some of the money. Although it is not yet complete, the hunt is still on for the hacker.

Wrapping up, Binance didnt send a sign of support to Curved Finance using words. The worlds biggest exchange spent a total of $5 million as a sign of support for the DeFi protocol. With the new investments, the DeFi protocol might recover.

Read the original here:

Curved Finance Receives $5 Million FromBinance - cryptonewsbytes.com

The launch of Base, Coinbases layer-2 network, has been unusually successful, attracting significant volume in terms of both DeFi activity and cross-chain bridge transactions.

But the burst of activity begs the question: How much of the strong start is attributable to Sybil attackers and airdrop farmers?

Base launched yesterday. However, due to traders discovering what was at the time a one-way bridge, the network managed to attract significant volume prior to the official ribbon-cutting.

In an interview with Blockworks, Nansen analyst Sandra Leow compared the launch favorably to Mantle and Linea, two other layer-2s that went live in the past month.

Per a Dune Analytics dashboard, the total value bridged to Base exceeded $150 million on the day of the official launch, and sits at $162 million as of today exceeding Mantles $67 million and Lineas $47 million.

It seems like the Base ecosystem is far ahead compared to the other new [layer-2s], Leow concluded.

Part of Bases early dominance can be attributed to the raucous soft launch. Over the course of a busy July 29 weekend for altcoin traders, new DEXes on the chain ran up $200 million in volume on a 24-hour basis and a memecoin inspired by Coinbase founder Brian Armstrong BALD ran up a $100 million market capitalization before the token creator pulled liquidity.

In a written interview with Blockworks, a Coinbase spokesperson repeatedly emphasized the networks open and permissionless system and noted that the chain launched with over 100 protocol partners. Per DefiLlama, over 20 protocols have $100,000 or more in total value locked (TVL).

Nansens Leow says the variety has offered traders alternatives following the collapse of BALD.

So far, it does seem like this playbook is working, as even post-BALD rug and you would expect users to have lost confidence in the Base chain, it seems like the chain has gone past the Bald frenzy and [traders] are actually using other apps on the chain, Leow said.

Yesterday, the Ethereum base chain had just under 430,000 active addresses. By comparison, Base had 100,000 active addresses.

On its face, its unlikely that Base has already managed to capture a quarter of the active addresses on Ethereum. Whats more, the number of active addresses isnt the same as the number of active users. This raises the possibility that a portion of those addresses are managed by Sybil users.

Sybil attackers and/or airdrop farmers are users who deploy multiple blockchain addresses and perform actions on a chain that has yet to release governance tokens. Often new chains will use tokens to reward early addresses that complete certain actions, such as bridging a certain amount or using a DeFi protocol. By utilizing multiple addresses, a single user can trick a platform into giving them additional tokens by appearing to be multiple independent users.

According to pseudonymous airdrop farmer CC2 Ventures, large-scale operations can involve dozens of investors pooling hundreds of thousands of dollars to pay for gas fees, labor and software to deploy thousands of addresses in an effort to reap airdrop rewards.

Notably, Coinbase has publicly denied plans for an airdrop, and the chain uses ether (ETH) as the gas fee token. However, CC2 implied this might not stop many Sybil attackers.

Coinbase denying an airdrop will dissuade some farmers, but most simply wont care. In fact, it might even have a reverse effect as projects like Arbitrum, Paraswap and even Sui to an extent constantly denied all airdrop rumors, yet still followed through with it, they wrote.

These operations often use sophisticated methods to obfuscate the fact that multiple addresses are controlled by the same party. Because of that, its nearly impossible to calculate exactly how much Base activity is attributable to farmers.

However, both CC2 and Leow told Blockworks that a significant portion of the traffic and TVL is organic. CC2 added that the chains early reputation for memecoin mania could lead to it becoming a hub of activity for casual traders.

I can see it becoming a retail favorite due to having similar dynamics as Binance Smart Chain (reputable, normie friendly company) with even lower fees, they wrote.

Get the days top crypto news and insights delivered to your email every evening.Subscribe to Blockworks free newsletternow.

Want alpha sent directly to your inbox? Get degen trade ideas, governance updates, token performance, cant-miss tweets and more fromBlockworks Researchs Daily Debrief.

Cant wait? Get our news the fastest way possible.Join us on Telegramand follow us onGoogle News.

See original here:

Early activity on Coinbase's Base chain shows promising signs - Blockworks

Solana (SOL) makes incredible progress in the crypto-sphere as its network activities boom and outperform industry giants. According to data, Solana recorded a 14 percent surge in its Total Value Locked (TVL) last month. This signifies a bounce back from the severe decline recorded last year following several downtimes and the seven major exploits that hit the chain.

The TVL of Solana started the year with $209.25 million. Since then, there has been an increase of 217 percent to hit $664 million as of press time. Interestingly, the heavyweight L1 networks like Ethereum, Binance Smart Chain, and Avalanche declined by 13 percent, 6 percent, and 10 percent respectively when Solana recorded an uptick last month.

The negative growth of TVL is not limited to layer 1 solutions as Arbitrum, a Layer 2 scaling solution also fell by 7 percent last month. Optimism, however, defied the odds to make a 10 percent surge in its TVL last month.

A careful observation of the Solana network shows a contradictory movement of its users activity within the period.

According to Token Terminal, there was a 5 percent decline in active user count in the past 30 days. This means no major improvement has been recorded since last years downtimes and exploits. In the past 180 days, the daily active user count has fallen by 15 percent.

In the last 12 months, it has recorded a whopping 50 percent fall. Just last week, the number of active user activity reduced by 1.6 percent due to the declined trading volume across the decentralized exchanges on the chain. It was also observed that zkSync, which has very low TVL, surpassed Solana in Decentralized Exchange (DEX) trading Volume in the period under review.

Solana, however, had other surges apart from TVL. Its transaction fee and network revenue recorded a surge. According to Solscan, network fees imposed on successful non-vote transactions moved to a high of 53.06 SOL on August 2. Compared to 31.64 SOL recorded last month, this is a significant growth in network fees. This is said to be a general issue as all network fees spiked by 50 percent last month. On a year-on-year basis, L1s revenue surged by 21 percent.

Solana recorded a 100 percent average uptime each month in the past six straight months and is said to be a contributing factor to the growth. Since this was a major issue last year as it eroded trust and raised concerns about the stability of the network, the current development appears as good news.

Follow us for the latest crypto news!

In other areas, Solana recorded an impressive $24.7 million in daily transactions as of June, surpassing Ethereum which only got half of Solanas numbers.

The native token (SOL ) is doing equally well; it surged by 19 percent in the last 30 days and recorded a 5.5 percent surge in the last seven days. Its 24-hour growth is also 5.6 percent, pushing the price to $24.75 as of press time. Regardless, Solana is still down by 90 percent from its all-time high of $259.96.

Get Started

Crypto News Flash does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. Crypto News Flash is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.

See more here:

Solana TVL Soars: Outperforms Ethereum, BSC, and Avalanche ... - Crypto News Flash

Developing Automated Market Making on PancakeSwap: Tools, Approaches, and Evaluation

Cryptocurrency & Blockchain

In the rapidly evolving world of decentralized finance (DeFi), automated market making (AMM) has emerged as a groundbreaking concept, revolutionizing how users trade and provide liquidity on decentralized exchanges (DEXs). Among the leading DEXs, PancakeSwap has gained significant popularity due to its efficient and user-friendly platform. This article dives deep into the tools, approaches, and evaluation of developing Bitcoin Era which is an Online trading platform automated market making on PancakeSwap, providing valuable insights to empower both beginners and experienced traders.

Note: For more information then click on the image

Automated market making is a mechanism that enables the creation of liquidity pools, allowing users to trade digital assets without relying on traditional order books. Instead, AMM protocols utilize smart contracts to determine asset prices and facilitate transactions directly from these liquidity pools. This approach offers several advantages, including increased efficiency, lower fees, and reduced dependency on intermediaries.

PancakeSwap is a leading decentralized exchange built on the Binance Smart Chain (BSC), offering a wide range of trading pairs and opportunities for yield farming. With its intuitive interface and lower transaction fees compared to other major DEXs, PancakeSwap has attracted a significant user base. Understanding the tools and approaches for developing automated market making on PancakeSwap is crucial for individuals and projects seeking to participate in the DeFi ecosystem.

At the heart of any AMM protocol lies the smart contracts that define its functionality. PancakeSwap utilizes the BEP-20 token standard on the Binance Smart Chain, making it compatible with various decentralized applications (dApps). By leveraging smart contracts, developers can create liquidity pools, implement swapping mechanisms, and enable yield farming features on PancakeSwap.

To interact with the smart contracts on PancakeSwap, developers can utilize programming languages such as Solidity and Vyper. Solidity, a language similar to JavaScript, is widely adopted for building smart contracts on the Ethereum network and other Ethereum Virtual Machine (EVM)-compatible chains like BSC. Vyper, on the other hand, is a Pythonic programming language specifically designed for writing secure and auditable smart contracts.

Web3.js is a powerful JavaScript library that allows developers to interact with the Ethereum network and Binance Smart Chain. By utilizing Web3.js, developers can integrate PancakeSwaps functionalities into their dApps or create custom front-end interfaces for users to interact with the automated market making features.

To ensure the efficient functioning of an AMM protocol like PancakeSwap, liquidity provision is vital. Users can provide liquidity to specific trading pairs by depositing an equal value of both tokens into the liquidity pools. In return, liquidity providers earn transaction fees and, in some cases, additional yield from farming native tokens or rewards.

Before diving into developing an automated market making strategy on PancakeSwap, it is essential to understand the dynamics of the market and the specific trading pair of interest. Analyze historical price data, liquidity depth, trading volumes, and the behavior of other market participants. This analysis provides valuable insights into market trends, volatility, and potential risks.

To create an effective automated market making strategy, optimizing the asset allocation within the liquidity pool is crucial. This involves determining the appropriate ratios between the two tokens in a trading pair to maintain stability and maximize trading opportunities. Several factors, including market volatility, trading fees, and impermanent loss, influence the optimal asset allocation.

Developing an automated market making strategy is an iterative process. Continuous monitoring of the market conditions and liquidity pool performance is necessary to make informed adjustments. By leveraging real-time data, developers can fine-tune their strategies, ensuring optimal returns and minimizing potential risks.

Evaluating the effectiveness of automated market making strategies on PancakeSwap requires a comprehensive analysis of various metrics. Key performance indicators (KPIs) such as trading volumes, liquidity depth, fees earned, and impermanent loss should be considered. By analyzing these metrics, developers can assess the profitability and sustainability of their strategies, enabling them to make data-driven decisions.

Developing automated market making on PancakeSwap opens up a world of opportunities for traders and liquidity providers in the DeFi ecosystem. By leveraging the tools, approaches, and evaluation methods discussed in this article, individuals and projects can navigate the intricacies of AMM, optimize their strategies, and participate in the vibrant world of decentralized finance.

More:

Developing Automated Market Making on PancakeSwap: Tools ... - Rebellion Research