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The last month was marked by positive price corrections in the cryptocurrency market, which sent the price of alts like Dogecoin [DOGE] rallying by 100%. According to data from CoinGecko, global cryptocurrency market capitalization grew by 9% in the last 30 days.
Like a spark, USN shined for a short time, then faded. Issued by Decentral Bank (DCB) in April 2022, it became the first native stablecoin in the NEAR ecosystem – one of the largest crypto communities comprising almost 900 crypto projects and boasting high scalability amid low fees.
Trending IDO platform Skyward Finance has announced the collapse of its treasury and token. $SKYWARD is now ineffective and worthless.
An unknown hacker siphoned $3 million from Skyward Finance, a launchpad project on Near Protocol. The post Skyward Finance suffers $3 million exploit on Near Protocol appeared first on The Block.
In order to strengthen its ties with blockchain projects in Korea and Asia, the layer 1 blockchain NEAR Foundation, a non-profit organization, has announced Wednesday that it is creating a Web3 center in South Korea.
Spitalfields, London, UK, Oct. 28, 2022 (GLOBE NEWSWIRE) -- NEAR Protocol is a pretty darn powerful, speedy, low-fee layer-1 blockchain and one of the fiercest Ethereum competitors.
SeatLabNFT is set to glorify the future of NFT ticketing, beginning with its launch on the NEAR Protocol.
A $40 million collateral gap has forced the shutdown of the USN stablecoin, which was launched in April 2022 by the NEAR Protocol. Tokens Destroyed, TVL Drop The USN stablecoin was issued by the Decentral Bank DAO, which announced on October 24 that it would be wrapping up the project.
The NEAR Foundation will terminate its algorithmic stablecoin USN in the coming months. The organization launched a program to support the digital asset's wind-down.
On 24 October, the NEAR protocol made another notable move to avoid a potential LUNA debacle. The NEAR Foundation issued an announcement stating that the USN, the NEAR algorithmic stable currency, is not sufficiently collateralized under extreme market conditions.
NEAR foundation announces a $40M protection fund for $USN holders.
A grant of $40 million has been set aside by the NEAR Foundation as part of a USN Protection Program grant, which has been
USN's price at press time was $0.999
Near Foundation announced a $40 million grant toward replacing a collateral gap of USN, a decentralized stablecoin on Near Protocol that had become undercollateralized earlier this year. The post Near Foundation spends $40 million to replace USN stablecoin's ‘collateral gap' appeared first on The Block.
The Protection Programme is curated to secure customers from the latest concerns associated with USN by making sure that legitimate USN holders can redeem their USN on a one-on-one basis with USDT.
The NEAR Foundation is taking steps to help USN holders to avert another stablecoin collapse and a crypto pandemic. On October 24 the platform stated that it has set aside $40 million for a grant for the “USN Protection Programme.
The program was launched after Decentral Bank, the issuer of NEAR-native stablecoin USN, raised concerns about the stablecoin depegging due to algorithmic failure.
Near protocol has announced a fund of $40 million to protect USN users from potential losses and ensure the stability of the stablecoin. The foundation made this decision in response to recent events surrounding other stablecoins, such as Tether's ongoing controversy over its lack of proper collateralization.
The decision aims to protect consumers by preventing another Terra-esque stablecoin collapse.
In an effort to prevent another stablecoin collapse and crypto contagion, the NEAR Foundation is taking measures to support holders of USN. The post NEAR Foundation Announces $40M Protection Fund for Scrapped USN Stablecoin appeared first on BeInCrypto.
The firm has announced plans to shut down the USN stablecoin to avoid greater risks.
To avoid another LUNA debacle, the undercollateralized USN will be phased out.
Michael Van de Poppe plans to increase his holdings in selected altcoins, including three ETH competitors.
Crypto strategist Michaël van de Poppe says he's planning to accumulate a handful of altcoins including three Ethereum (ETH) competitors.
