Month: February 2023

• TCNH, a stablecoin pegged to offshore Chinese Yuan (CNH), is now available on Huobi and can be traded through the TCNH/USDT pair.
• Huobi is a leading crypto exchange with a cumulative trading volume of over $1.2 trillion since its launch in 2013.
• TCNH tokens can be minted directly through TCNH’s official website after being verified as an organization and are also available on other exchanges.

TCNH, Stablecoin Pegged to Offshore Chinese Yuan

The recently launched stablecoin TCNH is finally available on Huobi where users can trade it through the TCNH/USDT pair. The coin, which is pegged to offshore Chinese Yuan (CNH) allows organizations to mint their own token after verification from the official website of TCNH.

About Huobi

Huobi is a well-known cryptocurrency exchange platform that has seen its cumulative trading volume exceed $1.2 trillion since its launch in 2013. It provides secure and reliable crypto trading and digital asset management services for millions of users in over 130 countries/regions worldwide with customer service teams set up in Singapore, Japan, Korea, Brazil, Hong Kong SAR and other regions. Moreover, Huobi is currently seeking a license in Hong Kong which makes it stand out as a leader among cryptocurrency exchanges in terms of compliance and regulation – something that will benefit the utility and adoption of TCNH greatly.

Advantages of Trading with TCNH

TCNH tokens are deployed on TRON – one of the world’s fastest-growing public blockchains – making them highly accessible with low transaction costs & instant transfer speed for those looking for faster & easier ways to make transactions compared to traditional methods such as wire transfers or international payments. This makes trading with TCN extremely effective especially when dealing with large sums of money across various currencies within different countries or regions due to its low cost & quick transfer timeframes without having to worry about currency fluctuation risk associated with fiat currencies like USD or EUR etc..

Minting & Acquiring Tokens

Organizations are able to mint their own tokens by verifying themselves on the official website of TCN while individuals may acquire these tokens via crypto trading pairs offered by various exchanges including Huobi mentioned earlier above which supports this currency pair allowing people access more easily than ever before given its global availability & support from multiple platforms like TRON blockchain etc..

Conclusion

In conclusion, it looks like there are many advantages that come along with launching your own tokenized fiat currency such as CNH-pegged stablecoin called “TCN” which includes lower transaction costs plus faster transfer speeds than traditional methods whilst also providing more control over how you manage your finances when dealing internationally compared against volatile markets like cryptocurrencies where prices fluctuate wildly each day due too speculation & market sentiment etc…

• Binance USD (BUSD) redemptions have surged to $360 million as investors panic in response to the threat of legal action from the U.S. Securities and Exchange Commission (SEC).
• Paxos, the issuer of BUSD, will no longer mint the dollar-pegged asset from Feb. 21 due to SEC accusations that it is selling unregistered securities.
• Analysts believe that this is a clandestine attack on Binance, even though Paxos is fully regulated and compliant.

The Threat of Legal Action

The latest blow to the crypto industry was dealt by U.S. regulators who issued a threat of legal action against Paxos, the issuer of the third-largest stablecoin – Binance USD (BUSD). The SEC accused Paxos of selling unregistered securities, even though BUSD is a stablecoin. In response, Paxos announced that it would no longer mint the dollar-pegged asset from Feb 21 onwards.

Panic Sets In

This news has caused panic amongst investors and led to an exodus from BUSD with redemptions surging over the past few hours. Industry analysts have labelled this move as a clandestine attack on Binance by choosing any stablecoin to target but going with one that was fully regulated and compliant instead – thus taking the path of most resistance. As a result, supply has declined by 2.2% in just a few hours since before the announcement when there was $16.15 billion BUSD circulating.

Paxos’ Reserves Fully Backed

Despite these events, Paxos has maintained that its BUSD reserves are still 1:1 backed by dollars and reassured customers that their funds are safe and secure despite this suspension in minting new tokens until further notice or direction from relevant authorities or regulators in New York State or elsewhere in connection with its virtual currency activities.

Binance’s Response

Binance has yet to comment publicly on this situation but they released an article shortly after outlining their stance on digital assets being considered securities under applicable laws which aims to provide clarity for users who may be uncertain about whether certain digital assets should be treated as security tokens or not within different jurisdictions around the world.

Conclusion

It remains unclear how this episode will end but what is certain is that it serves as another reminder for investors to remain vigilant when investing in digital assets due to their lack of regulatory oversight compared traditional financial products such as stocks and bonds which have more established protection for consumers’ investments through government agencies like SEC or FINRA..

• Uniswap v3 will be deploying on Ethereum’s layer 2 protocol Boba Network following a successful governance vote.
• The proposal was submitted by the Boba Foundation and FranklinDAO with 51.01 million voting YES out of the 40 million needed to pass it.
• Boba Network supports lightning-fast transactions and fees 40-100 times less than the Ethereum mainnet and other layer 1 networks.

Uniswap to Deploy on Boba Network

Leading decentralized exchange (DEX) Uniswap v3 will be deploying on Ethereum’s layer 2 protocol Boba Network following a successful governance vote from the Uniswap community. The proposal was earlier submitted by the Boba Foundation and FranklinDAO with backers including GFX Labs, Blockchain at Michigan, Gauntlet, and ConsenSys. Out of the 40 million votes needed to pass the proposal, 51.01 million answered YES resulting in Uniswap v3’s deployment to Boba in the coming weeks.

Boba Network

Boba Network is a layer 2 scaling solution powered by Hybrid Compute technology that supports lightning-fast transactions and fees 40-100 times less than the Ethereum mainnet and other layer 1 networks. It has already deployed multichain support for Avalanche, BNB, Moonbeam, and Fantom. According to Alan Chiu, core contributor at Boba: “Boba Network’s Hybrid Compute will make it possible for ecosystem developers to build a new generation of hybrid on-chain/off-chain DeFi applications atop of Uniswap.”

Advantages of Layer 2 Protocols

Layer 2 protocols offer an efficient scaling solution as they enable users to carry out transactions off-chain without compromising security or decentralization of data stored on Ethereum’s mainnet . This reduces transaction costs significantly while solving issues like high latency or congestion in network traffic which often affect user experience on layer 1 protocols like Ethereum’s mainnet .

Benefits from Uniswap V3 Deployment

Deploying onto Bob