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Yoots, The Most Hyped Upcoming NFT Mint in Solana

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Yoots, The Most Hyped Upcoming NFT Mint in Solana
  • y00ts, originally called Duppies is currently one of the most hyped mints in Solana. 
  • There will be 15,000 y00ts in circulation, and the price for the mint is $375 DUST, equivalent to $1,061.25 according to the current DUST price. 
  • y00ts derives from the creators of DeGods, one of the biggest NFT projects in Solana at the moment. 
  • To get Whitelisted, you either need to apply for a scholarship or own a Deadgod. The current floor price for Deadgods is 550 $SOL.

y00ts is an upcoming collection in the Solana blockchain created by the creators of DeGods. 

DeGods is one of the more successful Solana projects by far, trading top 10 on the OpenSea rankings for weeks and becoming a genuine competitor to other bluechip ETH NFT projects.

Frank & co, the team behind DeGods, are very well known inside the community, and with merit, as the team has come up with creative ways to engage its audience and introduce new incentives to invest in their projects while delivering value. 

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We tried some shit.

We learned some shit.

Now we’re trying some new shit.

— Frankⓨ (33.3%) (@frankdegods) January 15, 2022

Instead of the usual whitelist raffle process, the team behind y00ts and DeGods has introduced a creative scholarship process where individuals apply to join the Whitelist via their official scholarship website. All new members that pass these qualifications are then publicly announced on Twitter on y00tlist’s official account. This is a genius marketing tactic, as most of these posts have been shared thousands of times over social media. While the applications are now closed, the project has enticed some accounts with significant influence in the crypto world to join the project and post all about it on social media. This has accelerated the hype of the project. 

Wen Mint?

According to Magic Eden, the project should mint on Sunday at 2 pm PST, although it may likely be delayed. 

The cost of the mint is 375 $DUST, equivalent to $1061.25 according to the current DUST Price on Raydium. There will be 15,000 y000ts, with around 10,000 allocated to DeadGod holders and others hand selected by the team through these “Scholarships.” 

What are y00ts?

Yoots, The Most Hyped Upcoming NFT Mint in Solana 17

y00ts is an NFT collection aiming to provide a “common-sense approach to NFT intellectual property .”It is based on the idea that every project should have its own IP registry to easily track who is approved to be using the NFT’s IP. DeGods is experimenting with this model using y00ts. According to their whitepaper, the following will happen: 

  • The team will create the “y00ts st0re” for artists to submit their custom versions of traits.
  • Artists will own the IP of their work & collect a % of royalties
  • Holders can purchase the community created traits from the store.
  • Holders can only apply one customized trait to their NFTs per month.
    1. The customized traits can not change the shape/size/name of the trait.
    2. A t-shirt can’t be changed into a fur coat (also must stay same size)
    3. Will not change the metadata
  • Community members can create & officially register sub-communities/sub-DAOs
    1. They can charge $SOL for entry
    2. Collect a % of royalties on all sales for their sub-communities

How to Purchase Dust if you have been whitelisted?

As the native NFT token of DeGods, Dust can be generated by staking a DeGod or DeadGod NFT. If you do not have a DeGod NFT, rest assured as there are other ways to purchase Dust in the secondary market. 

To purchase Dust, you need to use a Solana decentralized exchange such as Raydium or Jupiter Aggregator. 

Firstly you need to connect your Solana Phantom Wallet with the Raydium or Jupiter website, and then you need to input the DUST token address into the “Receive” section. 

Confirm the amount of $Dust you wish to receive and voila, you should have it in your wallet. 

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Ethereum

Indian Crypto Exchange WazirX Lays Off 40% Of Its Staff Citing The Ongoing Crypto Winter: Report 

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Indian Crypto Exchange WazirX Lays Off 40% Of Its Staff Citing The Ongoing Crypto Winter: Report 
  • Indian cryptocurrency exchange WazirX has reportedly laid off 40% of its staff, Coindesk report adds
  • In a statement shared with the crypto news outlet, the exchange cites the prolonged crypto winter as its reason for slashing its workforce by 40%. 

Per a Coindesk report, Indian cryptocurrency exchange WazirX has slashed its workforce by 40%, citing the ongoing crypto market phase. 

WazirX Cuts 40% of Its Workforce

In a statement shared with Coindesk, WazirX, one of the leading cryptocurrency exchanges in India, has decided to lay off 40% of its staff, citing extreme crypto winter conditions. The company has reportedly laid off 50–70 people, three people familiar with the matter told Coindesk.

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The statement later adds that these employees will be paid for additional 45 days, and after that, the workers are not expected to attend the company anymore.

WazirX, which is dubbed as one of the leading cryptocurrency exchanges in India, has cited the prolonged crypto winter as its primary reason, leading the firm to slash its workforce by almost 40%.

“The crypto market has been in the grip of a bear market because of the current global economic slowdown. The Indian crypto industry has had its unique problems concerning taxes, regulations, and banking access. This has led to a dramatic fall in volumes on all Indian crypto exchanges. ” The statement reportedly added

The firm further stated that it prioritises consumer protection and its decision to lay off 40% of its staff has been taken to “weather the ongoing crypto winter phase.”

“As India’s No. 1 exchange, our priority is to be financially stable and to continue serving our customers,” the company said. To achieve this, we’ve had to reduce our staff to weather the crypto winter. This situation is similar to the trying times the industry faced in 2018. At that time, we doubled down and built our innovative P2P engine. The crypto industry operates in cycles, and the bear market is inevitably followed by a spectacular bull market. We will continue to focus on our customers’ needs and continue to build. “We are confident that we will come out stronger when the bull market arrives,” the statement later adds

With WazirX slashing its workforce by 40%, the firm has joined the growing league of cryptocurrency exchanges that have recently decided to lay off their employees to stay afloat during the ongoing crypto winter phase. Crypto exchange Coinbase had earlier cut back on its workforce, citing the prolonged crypto winter. Similarly, exchanges like Bybit, Gemini, BitPanda, BlockFi, and Robinhood have also slashed their workforce to sustain the ongoing bearish crypto market phase.

Image: WazirX/Twitter

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Cardano’s Founder Charles Hoskinson Picks On Solana’s Recent Network Outage On Twitter

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Cardano’s Founder Charles Hoskinson Picks On Solana’s Recent Network Outage On Twitter
  • Cardano founder Charles Hoskinson was seen making fun of Solana’s recent network outage.
  • Solana went through another crypto network meltdown today, leading Hoskinson to mock its recent network performance.

The founder of Cardano cryptocurrency, Charles Hoskinson, took to Twitter to share a funny crypto meme that mocked Solana’s recent network outage.

Charles Hoskinson Trolls Solana’s Recent Network Outage

Solana, dubbed as a potential Ethereum killer, experienced another network outage today that ended up disrupting the network’s day-to-day transactional output. The blockchain took to Twitter to announce that its developers are currently examining the potential causes of the outage, leading the crypto community to share an array of opinions on Solana’s frequent network upheavals.

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Charles Hoskinson, the founder of Cardano cryptocurrency, was also noted mocking Solana’s recent network outage. The ADA founder retweeted Solana’s network disruption tweet by sharing a crypto meme, picking on the chain’s constant network meltdowns.

Hoskinson’s tweet was met with a hint of criticism on crypto Twitter. Several users were quick to point out Hoskinson’s habit of making fun of other blockchain platforms. Some of the users also urged the Cardano founder to stop picking on other blockchain platforms when they encounter occasional network issues.

What did you get from mocking other chains?

— Aduck (@nonkatian) October 1, 2022

Charles you often speak about other crypto leaders attacking you on cardano and how we should work together ,so first step is not pick on crypto platforms when they go down as everybody is building stuff like you and others.This is not the right way for leader to behave.

— Manish Shukla (@maanav6427) October 1, 2022

Solana Encounters Another Network Outage Today

Solana experienced another network outage today, resulting in the blockchain’s disrupted transactional volume. The Solana team took to Twitter to announce the network outage issue, adding that the blockchain is temporarily unable to process transactions.

This isn’t the first time Solana has experienced significant network downtime issues. The blockchain has reported multiple network outages throughout 2022, leading investors to question the blockchain’s structure and functionalities.

It’s not a chain… It’s pretty much a centralised ponzi database with such glaring security flaws that you are probably safer to just leave your money in a bank.

— RobinSG (@kaptinspudz) October 1, 2022

However, at press time, the network has resolved its network outage problem and is currently up and running again.

Validator operators successfully completed a cluster restart of Mainnet Beta at 7 AM UTC.

Network operators an dapps will continue to restore client services over the next several hours.

— Solana Status (@SolanaStatus) October 1, 2022

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Uniswap Labs To Raise Venture Capital at $1B Valuation

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Uniswap Labs To Raise Venture Capital at $1B Valuation
  • Uniswap Labs is gearing up to raise over $100 million in a new round of funding as it expands into new products and services.
  • The decentralized exchange commands 64% of all DEX volumes, according to DeFi Llama.
  • Uni’s new funding is indicative of the company’s ambitious plans

Uniswap Labs is gearing up to raise over $100 million in a new round of funding as it expands into new products and services, according to four sources familiar with the matter as reported by TechCrunch, and continues to gain mindshare among traders.

The company is currently seeking investors including Polychain and one of Singapore’s sovereign funds to raise an equity round of $100 million to $200 million at a valuation of about $1 billion.

The deliberations of the round haven’t reached final stages, so terms of the deal may change, sources cautioned.

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Uni’s new funding is indicative of the company’s ambitious plans to expand its offerings. The decentralized exchange commands 64% of all DEX volumes, according to DeFi Llama. And the exchange protocol’s token has a market cap of nearly $5 billion despite the market downturn. (During the peak bull cycle last year, Uni’s market cap exceeded $22.5 billion.)

In recent months, Uniswap Labs has shared plans to add “several new products.” One of the new offerings will allow customers to trade NFTs on Uniswap from a number of marketplaces, Uniswap Labs COO Mary-Catherine Lader told Decrypt.

Lader told TechCrunch in an earlier interview that their mission is “to unlock universal ownership and exchange.” If you can embed the ability to swap value and have people join the community and exchange value with your project, or your company or organization — that’s a powerful way to allow more people to engage in this ownership.

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