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What is Elrond (EGLD)?
In the blockchain world, scalability has become one of the top priorities. Developer teams are looking for ways to speed up networks, eliminate network congestion, and increase the number of transactions that can be processed per second. However, this remains one of the fundamental problems that large networks like Bitcoin and Ethereum are still struggling with. One of the projects that aims to provide a solution to this problem is Elrond. This project, which changed its name in 2023 and is now known as MultiversX, has left its mark on the cryptocurrency space. Apart from the MultiversX transformation, Elrond has been reshaped with a metaverse and Web3-focused vision, as well as being a highly efficient blockchain. With its Romanian origins, Web3 has become one of the Romanian projects. This system, which enables the creation of crypto assets with the support of smart contracts and allows transactions to be made in seconds, now aims to build a much broader digital economy. If you have any questions about Elrond (currently known as MultiversX/EGLD); If you are wondering what Elrond is, what is EGLD coin, let's take a look at the details of this project together...Elrond's Definition and OriginElrond is a Layer 1 blockchain platform known today as MultiversX, offering high scalability, low latency and strong security features. This platform is specially designed for distributed applications (dApps), enterprise solutions and the next generation internet economy. It addresses areas such as DeFi, metaverse and Web3 applications, while providing developers with a scalable infrastructure and NFT support. Elrond was founded by a Romania-based team in late 2017. The founders include Beniamin Mincu, Lucian Mincu and Lucian Todea. Before Elrond, the Mincu brothers founded a crypto asset investment fund called MetaChain Capital and an ICO information platform called ICO Market Data. It is also known that Beniamin Mincu previously worked in the marketing and community development areas of the NEM project. The main motivation behind Elrond’s development is to solve one of the biggest challenges faced by blockchain technology, the blockchain “impossible trilemma”. This trilemma refers to the difficulty of simultaneously providing security, decentralization, and scalability. Elrond is trying to stand out with innovative solutions that aim to offer these three elements together. So, how does Elrond work at this point? Elrond has focused on two main technologies to solve blockchain problems. The solutions in question are as follows:Adaptive State Sharding: This technology dynamically divides the network into shards, allowing each shard to process transactions in parallel. In this way, the network can perform high transaction volumes with low latency and low cost.Secure Proof of Stake (SPoS): Elrond’s consensus mechanism, SPoS, combines the amount of staked tokens and randomness in the selection of validator nodes. This structure provides energy efficiency while increasing the security and fairness of the network.Thanks to these technologies, Elrond has reached the capacity to process up to 15,000 transactions per second and has made its name among the fastest networks. Meanwhile, Elrond is also known for its EGLD token. If we talk about the EGLD token features; this token is the native token of the network and has many uses. It is used to pay for transactions on the network, to generate passive income through staking, and to act as a validator to ensure the security of the network. It also offers voting rights in governance processes.Elrond History: Major MilestonesSo where exactly did Elrond's story begin? What were the major milestones? Elrond started as a technical project and became one of the big names in the web3 space. The project, which was founded in 2017, has seen many important developments, from early investment successes to the mainnet launch, from token conversion to taking on a brand new identity under the name MultiversX. In this section, we take a look at the prominent stops on Elrond's journey.2019: A Successful IEO Process on Binance LaunchpadElrond raised $3.25 million with its Initial Exchange Offering (IEO) on Binance Launchpad in June 2019. During this process, 25% of the total token supply was distributed. The project, which had previously raised approximately $1.9 million in private investment rounds, thus set off with a total capital of $5.15 million. So why was Binance Launchpad so important to Elrond? Binance Launchpad is a platform where new crypto projects sell their tokens for the first time on Binance. Thanks to this system, projects receive early investment, while users have the chance to buy tokens at a low price. These sales, which take place in a secure environment, provide visibility and liquidity to the project. They also offer potential high-yield opportunities to investors. Therefore, Elrond or MultiversX started its life with a vote of confidence from Binance. According to EGLD's token economy, the initial distribution of tokens was as follows: Source: TokenInsights 2020: Mainnet Launch and Transition from ERD to EGLDElrond's mainnet was officially launched in July 2020. With this launch, the project's native token, ERD, was renamed to EGLD (eGold) in September 2020 as part of a new token economy. A special conversion process was launched for users to exchange old tokens for new ones.2021-2023: Maiar Wallet, DeFi, NFT, and Launchpad ExpansionIn January 2021, Elrond's official wallet, the Maiar application, was launched. So what is a Maiar wallet and what does it do? Designed to store, send, receive, and perform various transactions with EGLD tokens, this application appealed to a wide audience thanks to its user-friendly interface. Maiar has a non-custodial structure, meaning your assets are completely under your control. The security system is quite flexible: it starts out easy, and as your wallet grows, advanced measures come into play. In other words, it guides you according to your usage habits. Thanks to usernames called “Herotags”, you don’t need to know someone’s number to pay them, you just need to type their username. The app also allows staking, multiple coin support, browsing crypto news, and sending crypto. Maiar Wallet image. Source: MultiversX Similarly, Elrond launched Maiar Launchpad, which offers early investment opportunities for new projects, and Maiar DEX as a decentralized exchange (DEX).However, these projects received a name change to MultiversX in late 2022. Currently, Maiar wallet has become MultiversX Wallet, Maiar Launchpad has become xLaunchpad, and Maiar DEX has become xExchange.During the same period, the Elrond ecosystem grew rapidly; It hosted more than 100 projects and became integrated with stablecoins, wallets, validators, and payment systems. DeFi projects (Orion, Reef) and NFT support also contributed to this growth.Transformation to MultiversXAs mentioned above, Elrond entered a significant brand transformation process in 2022 and took the name MultiversX. According to the project's own statements, Elrond entered this process by taking the name MultiversX in parallel with the increasing interest in the metaverse and developments in this field. According to their own statements, this name change was made to reflect the project's expanding vision to the metaverse and its commitment to the future of the internet. As part of the rebranding, not only the name but also the logo and platform design were updated.Why is Elrond Valuable?To understand why Elrond attracts so much attention, it is necessary to look not only at its technology but also at the user experience it offers. Because Elrond (or MultiversX as we now know it); In addition to being a fast blockchain, it is also a user-friendly, scalable and developer-focused ecosystem. In other words, while it performs tens of thousands of transactions per second at a low cost, it also manages to offer this technology with a simple and accessible interface. Now, let's take a look at the main technical features that make Elrond stand out and why it offers a valuable infrastructure.Adaptive State Sharding: Maximum Efficiency with On-chain ShardingMultiversX uses an advanced mechanism called Adaptive State Sharding to optimize scalability. So, what is Adaptive State Sharding? This system divides the network into many shards, allowing each shard to perform operations simultaneously. In this way, the processing load is balanced, network congestion is prevented, and thousands of transactions can be performed at low cost. The shard structure increases efficiency by dynamically merging and separating according to the needs of the network. Sharding mechanism. Source: MultiversX According to the project’s own description, sharding in the MultiversX network was designed from the ground up to address the complexity of combining network sharding, transaction sharding, and state sharding. The result is a cohesive protocol design that not only achieves full sharding, but also achieves the following goals. The protocol’s goal is to:Scalability without impacting availability: Increasing or decreasing the number of shards in the network should not disrupt the operation of the system. When making these changes, it is expected that only a very small group of nodes will be affected, and the overall state of the system will be updated smoothly.Fast dispatch and instant traceability: It should be possible to easily and unambiguously (deterministically) calculate which shard a transaction will be directed to. This calculation should require very little processing power and should not require additional communication between different nodes.Efficiency and adaptability: The goal is for all shards in the network to operate as balanced as possible at all times. That is, the transaction load should be distributed evenly, and one part should not be overloaded while the others are idle.Secure Proof of Stake (SPoS): Energy-Efficient Consensus MechanismElrond’s consensus model is called Secure Proof of Stake (SPoS) and is known as a faster and more secure version of the classic PoS system. This model is designed to make both how validator nodes are selected and how these nodes work in the block creation process more efficient. Validator nodes are determined by a combination of the amount of EGLD they stake and the random selection. According to the project’s description, this randomness is so secure that it cannot be predicted or manipulated from the outside. SPOS process. Source: MultiversX. This selection process is very fast. Because it usually takes less than 100 milliseconds. Because there is no need for extra messaging in the system; once the randomness is generated, the selection is completely automatic. Thanks to this, the total block production time is reduced to just a few seconds. Such fast rounds also have a security advantage: Even if a malicious person wants to influence a block in the system, it is almost impossible to manipulate it in such a short time.SPoS, like other Proof of Stake systems, looks at how much EGLD they have staked when determining who will be a validator. But this is not the only criterion. Each validator also has a score (rating). This score is determined by how well they have worked in the past. In other words, the system rewards not only those who stake a lot, but also those who work properly. During block production, a special multisignature system is used. This ensures that the block prepared by the block producer is signed by the validator group in two rounds of communication.Up to 15,000 Transaction Capacity Per SecondThanks to the Adaptive State Sharding and Secure Proof of Stake algorithms mentioned above, the Elrond network has the theoretical capacity to process 15,000 transactions per second. The highest speed measured was 263,000 transactions per second. This feature makes it one of the fastest blockchain infrastructures. The average transaction cost is only around $0.001. This makes Elrond a very attractive option for both users and developers. The MultiversX homepage lists the maximum number of transactions the network processes per second. Source: MultiversX. User-Friendly Wallet Experience with MaiarMultiversX’s official mobile wallet, Maiar (MultiversX Wallet), allows users to easily manage their EGLD tokens. One of Maiar’s most striking features is that an account can be created without a password, private key or recovery phrase.Who is the Founder of Elrond?So, who is behind this fast blockchain? Who is the founder of Elrond? First of all, Beniamin Mincu comes to mind. If you ask who Beniamin Mincu is, we can answer as follows: Beniamin Mincu is the co-founder and CEO of MultiversX (formerly Elrond). He is described as a technology visionary. He was one of the early blockchain pioneers in Europe. Because he was on the NEM.io core team from 2014 until he founded Elrond. Beniamin Mincu is also the co-founder of cryptocurrency investment fund MetaChain Capital and initial coin offering (ICO) data aggregator ICO Market Data, along with his brother Lucian Mincu. Beniamin Mincu co-founded Elrond in 2017 with Lucian Todea and his brother Lucian Mincu. Lucian Todea is the Founder/CEO of software review and download site Soft32 and a partner of mobile payment app mobilPay. Mincu promoting MultiversX. Source: Cryptobriefing The team of Mincu brothers and Lucian Todea developed the Elrond network to address issues related to blockchain scalability. Their goal was to create a platform that is interoperable and highly scalable, better than existing blockchain platforms. The MultiversX team is comprised of engineers, designers, and researchers from various technology companies, including Intel, Microsoft, ITNT, and Soft32. The founding team designed MultiversX to provide a highly scalable blockchain that addresses Metaverse, DeFi, and Web3-focused applications. They specifically built it as a blockchain platform that offers speed and security. Their vision was to provide a solution to the blockchain challenges we mentioned earlier and create an “internet-scale” blockchain. To achieve this vision, they utilized innovative technologies such as Adaptive State Sharding and Secure Proof of Stake (SPoS). The platform’s growth strategy focused on building the ecosystem with tools such as the user-friendly Maiar app and support for DeFi, NFTs, and various projects and partnerships. The EGLD token has become a key component for access, usage, security, and growth within the network. Staking incentives also played a key role in securing the network. In addition, the team says it designed eGold for simplicity and global adoption. In general, the goal is to position MultiversX as a distributed blockchain for next-generation applications.Frequently Asked Questions (FAQ)Below are some frequently asked questions and answers about MultiversX (aka Elrond):What is the Elrond network, how does it work?: Elrond is a Layer 1 blockchain network developed for high-speed and low-cost transactions. It can process up to 15,000 transactions per second thanks to Adaptive State Sharding and Secure Proof of Stake (SPoS) technologies.What is the EGLD coin used for?: EGLD (eGold) is the native token of the Elrond network. It is used to pay transaction fees, perform staking, contribute to network security, and vote in governance.What makes Elrond different from other Layer 1 networks?: Elrond offers high scalability by dynamically dividing its network into shards with Adaptive State Sharding. It works both fast and energy efficient thanks to SPoS. This combination makes the project stand out from a technical perspective.How is Elrond staking done?: EGLD tokens can be locked by staking them to validator nodes via a wallet (e.g. MultiversX Wallet/formerly Maiar). In return, users earn staking rewards as passive income.Who is the founding team?: Elrond was founded by a team based in Romania. The founders are Beniamin Mincu, Lucian Mincu and Lucian Todea. The team consists of experienced engineers and entrepreneurs who have worked in large technology companies in the past.For more content on Elrond and Web3 infrastructures, stay tuned to our JR Kripto Guide series.
German Giant Sparkassen to Offer Bitcoin and ETH Services
Germany's largest financial institution, Sparkassen-Finanzgruppe, is opening its doors to cryptocurrencies after years of cautious approach. According to Bloomberg, the bank is preparing to launch a service that will allow individual customers to buy and sell cryptocurrencies such as Bitcoin and Ethereum by summer 2026.Sparkassen-Finanzgruppe's move into Bitcoin and ETHSparkassen-Finanzgruppe, Germany's largest financial group, plans to launch a cryptocurrency trading service for individual customers by summer 2026. According to Bloomberg, this decision signals the bank's departure from its years of cautious stance and its entry into the cryptocurrency sector.Sparkassen serves approximately 50 million customers and had previously chosen to stay away from cryptocurrency services. The bank, which completely banned cryptocurrency transactions in 2015, maintained a distance from Bitcoin and other cryptocurrencies for a long time, citing their “excessive speculative nature.” However, changing regulations and increasing user demand have prompted the group to reevaluate this strategy.In the new era, Sparkassen will manage its cryptocurrency services through Dekabank, a subsidiary of the group. Dekabank, which is already active in the cryptocurrency market, will enable users to easily buy and sell cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) through the Sparkassen mobile app.MiCA effectIt is noted that this service has become possible thanks to the MiCA (Markets in Crypto-Assets) regulations, which came into effect in December 2023. MiCA provides a common legal framework for crypto businesses across the EU, making it easier for traditional institutions like banks to enter this field.However, Sparkassen-Finanzgruppe is taking a cautious approach to the new service. In a statement by the DSGV (German Savings Banks Association), it was emphasized that cryptocurrencies are still high-risk and that no marketing campaign will be conducted for this service. Instead, users will be comprehensively informed about potential losses and risks before investing.Sparkassen's strategic move aligns with the broader banking trend in Germany. DZ Bank launched a pilot cryptocurrency storage and trading service in 2024 in collaboration with Boerse Stuttgart Digital, covering 700 cooperative banks. Additionally, Landesbank Baden-Württemberg announced cryptocurrency storage services for corporate customers in April 2024 in partnership with Bitpanda.Experts view Sparkassen's move as “a major threshold for mainstream adoption.” Filipp Bolotov, CEO of ERA Labs, argues that the shift toward crypto by large institutions like Sparkassen will enhance the sector's credibility, while Kyle Chasse of Master Ventures interprets this development as “banks finally trying to catch up with the evolution of crypto.”
What is Virtual (VIRTUAL)?
The Web3 world is growing day by day and new projects continue to take their place in it. One of these projects is Virtual, a platform based on digital identity, social networks and metaverse. If you are asking "What is Virtual?" or "What is Virtual coin?", we can actually say this simply: Virtual is a Web3 protocol where users can create their digital identities, store them securely with blockchain technology and interact in the metaverse and social media world. Sounds exciting, right? The project creates a space where you can control your digital identities and interact with artificial intelligence agents. In this guide, we will examine in detail what Virtual offers, how it works and why it has attracted so much attention.Definition and Emergence of VirtualVirtual can be defined as a Web3 protocol focused on digital identity, social networks and metaverse. It is essentially a decentralized platform that allows users to develop, own and generate income from artificial intelligence-supported agents (AI agents). This project, also known as the Virtuals Protocol, was launched in 2024 on the Ethereum network's Layer-2 solution, Base. In this way, all interactions and content on the platform are transparently recorded on the blockchain and users have full ownership of their data. In other words, the Virtual project aims to provide a decentralized social network infrastructure and a Web3 social media project and experience based on user control instead of traditional social platforms in the Web2 world. In addition, the protocol positions artificial intelligence agents as digital characters that can be integrated into different platforms such as games, Virtual metaverse environments and social media applications. The working system of Virtual Protocol. Source: Virtual Protocol whitepaper. The Virtual project emerged with the vision of establishing a Web3-based social interaction infrastructure. The protocol can be defined as a new generation social platform where users can store their data on the blockchain instead of central servers and have full control over their own digital identity and content. In this platform, traditional social network elements are combined with artificial intelligence technologies to offer a richer interaction experience. Virtual introduced itself with whitepapers and community announcements published in 2023, creating a core crypto community. Then, in 2024, the first version of the platform and the VIRTUAL token were officially launched. Virtual preferred the Base blockchain as its blockchain. In particular, it attracted attention from the very beginning with its decentralized data storage and ownership model. In the architecture of the project, all content and contributions produced by users and artificial intelligence agents are archived in a special on-chain storage called the Immutable Contribution Vault (ICV). In this way, all past interactions are recorded in an unchangeable manner and data ownership remains with the user. The Virtual protocol has a technically innovative three-layer architecture. The first layer is the smart contract wallet called ICV, the second layer defines each Virtual agent as an NFT-based account in the ERC-6551 standard, and the third layer contains modules that provide the core capabilities of the agents such as cognitive, visual and audio. This structure gives each AI agent its own digital identity, and the content produced by the agents and their earnings become traceable. Virtual's philosophy of emergence can be summarized as "transferring the power of users from Web2 to Web3". The project team aims to build an ecosystem where users are partners and managed instead of traditional centralized platforms. In line with this vision, an environment was created where everyone can create their own AI-supported crypto assets without the need for technical knowledge by bringing together AI and blockchain technologies. The key features of the project include the fact that there is no need to know coding to create a new agent in the Virtual protocol, that these agents can be opened to common ownership thanks to tokenization, and that the income obtained is shared transparently. Within the platform, VIRTUAL acts as an interaction and transaction fee (spent when interacting with agents), while on the other hand it is used as a rewarding tool. For example, Virtuals Protocol users are rewarded with points for sharing or contributing to the project on social media. Users can earn points for their posts by connecting their X (Twitter) accounts to their Virtuals accounts. These points are a social DeFi mechanism that encourages community participation, and there are signs that they could turn into rewards such as token airdrops in the future. In addition, VIRTUAL token holders can lock their tokens and convert them into voting tokens called VIRTUAL. In this way, they both earn daily contribution points and have a say in the management of the platform. A sample wallet of a Virtuals AI Agent (Degent). Source: App.Virtuals Virtual’s History: Major MilestonesThe development of the Virtual project is one of the most interesting success stories in the crypto world in recent times. Here are the major milestones in the history of Virtual Protocol:2023: The project’s conceptual design and preparations took shape this year. The Virtuals team made their first appearance by sharing their whitepaper with the community. An early community building and project introduction process was carried out throughout 2023. During this period, the project positioned itself as a social platform combining AI and blockchain, and entered the agenda of crypto enthusiasts. In December 2023, the Virtual project began taking steps to transition to its own economic model, such as repurchasing old tokens and distributing new VIRTUAL tokens (PIP-10 plan) – announcements were made that this process was carried out with the approval of the community.October 2024: The official launch of the Virtuals Protocol took place. The platform was launched on the Base network on October 16, 2024, and the VIRTUAL token was launched on the same day. With a starting price of around $0.10, VIRTUAL coin began to gain value through rapid adoption. In the last quarter of 2024, the VIRTUAL token was listed on a number of leading crypto exchanges. For example, VIRTUAL trading was opened on major exchanges such as Bybit and Binance. In particular, in December 2024, Binance launched futures contracts for VIRTUAL, providing significant liquidity and visibility to the project. Thanks to these developments, the project reached a wide audience in just a few months. December 2024: Virtuals Protocol reached “unicorn” status by exceeding $1 billion in market value. By the end of 2024, AI agents and their tokens on the platform became a trend in the crypto ecosystem. For example, the AI agent token called AIXBT, which was launched in November 2024, reached a high market value of $168 million as an experimental project that analyzes crypto discussions on social media and provides market insights. Thanks to the fun digital avatar of this agent token (a purple Pepe frog image), a meme coin culture has also emerged within the Virtuals community. Virtuals Protocol has managed to attract a wide range of users by blending serious AI innovation with internet meme culture. 2025 and beyond: As of 2025, the Virtual project continues its evolution in line with its core goals. Metaverse collaborations and digital identity integrations have an important place in the protocol's development roadmap. The Virtuals team has initiated initiatives for AI agents to be integrated into popular metaverse platforms as avatars and to work in harmony with different digital identity protocols. For example, it is aimed that Virtual agents can be easily used in games, virtual worlds and other applications with “plug-and-play” APIs. In addition, the process of gradually transferring project management to the community has accelerated in 2025. As part of the transition to the DAO structure, governance modules that grant voting rights to VIRTUAL token holders have been activated (veVIRTUAL staking system). Community members have begun voting on proposals for the future of the protocol and have a say in project decisions. In 2025 and beyond, the Virtual project is moving towards becoming a fully community-driven ecosystem, while also planning to implement advanced use cases consisting of multiple AI agents, such as an “autonomous media agency” and an “autonomous hedge fund.” VIRTUAL staking screen. Source: Virtuals Protocol Why is Virtual Valuable?There are several elements that make the Virtual (VIRTUAL) project unique. Virtual offers many advantages over existing platforms in terms of both its technical infrastructure and the user experience it offers:User-Centric Web3 Social Media Infrastructure: Unlike traditional social networks, Virtual offers a decentralized social platform where users take control. The content and data produced on the platform do not belong to a single company, but to the user who creates the content. In this way, the decentralized social network concept is implemented and users become the owners of their own data. In particular, in Web2, while large platforms monopolize user data, the Virtual protocol aims to give data ownership back to users with blockchain.Digital Identity and Avatar Integration: In the Virtual protocol, each user and each artificial intelligence agent are represented as a digital identity element. For example, the AI agents on the platform are actually digital characters with certain personality traits, and these can be used in an integrated manner in games, metaverse worlds, social media, and websites. This makes Virtual a digital identity protocol. Thus, users can create their own AI avatars or digital assistants and represent them in different environments. At the same time, users can integrate their wallets and social accounts to strengthen their Web3 identity, allowing them to manage their online presence without relying on a single central authority. Decentralized Data Storage: Virtual permanently records all contributions and transactions thanks to the ICV (Immutable Contribution Vault) in its technical infrastructure. This immutable ledger allows the efforts of content producers, AI agent developers, and other contributors on the platform to be tracked. For example, the contribution of a developer who adds a new capability or dataset to an AI agent is stored in the ICV and can later be referenced when the revenue is shared fairly or when credit is given. Thus, the Virtual ecosystem has a transparent and fair contribution model. This architecture also increases the scalability and security of the platform, because the content is kept in a distributed ledger and is resistant to censorship. The Role of the VIRTUAL Token in Reward and Governance: VIRTUAL, the native token in the Virtual ecosystem, has a critical value in terms of both user incentives and governance. The platform offers a kind of social DeFi experience by combining social interaction with financial incentives. For example, users who produce content or share about the project on social media are supported with points and potentially token rewards. This is a model that rewards active participation and contributes to the growth of the ecosystem. On the other hand, the VIRTUAL token is also an important tool in project management. Token holders gain voting rights by locking their assets and have a direct say in decisions about the future of the protocol. Thus, Virtual allows its users to act as shareholders of the platform as a governance token. This ensures that the project becomes sustainable and adopted by the community in the long term. Avatar and Metaverse Integrations: The Virtual project is also closely related to the rising trend of our age, the metaverse. AI agents created on the platform can be integrated into various virtual worlds as avatars or digital assistants. For example, it is possible to use a Virtual agent as an NPC (non-player character) in a game or to assign it as a moderator in a virtual meeting. It is currently stated that some Virtual agents can connect to applications such as TikTok, Roblox, Sandbox via APIs and produce content. In this way, the Virtual protocol works not only as a social network, but also as a metaverse infrastructure that bridges different platforms. Users can exist, generate income, and interact in multiple virtual worlds with a single digital identity. This adds great potential value to the project, as in the future, internet users will navigate multiple metaverses rather than a single universe, and the interoperable identity and existence model that Virtual provides will be extremely valuable.Who is the Founder of Virtual?The team behind Virtuals Protocol initially took a somewhat secretive stance. Rather than revealing the names of the team members, they preferred to adopt a project-oriented communication style and announce their achievements with community support. In fact, Virtuals' official documentation does not mention the names of the team members, but rather the areas in which they contribute and what kind of experience they have. For example, some of the core contributors work in fields such as software engineering and artificial intelligence research, and some even graduated from prestigious schools such as Imperial College London.But on the other hand, Jansen Teng and Wee Kee Tiew are mentioned as the founders of Virtuals Protocol. These two launched the project in 2021 and have previously worked as consultants at large firms such as Boston Consulting Group. Jansen Teng has experience in artificial intelligence and biotechnology, while Wee Kee Tiew has expertise in fintech and private equity. In other words, these two names took things seriously when laying the foundations of the project, recognizing the opportunities between artificial intelligence and blockchain.However, the management philosophy of the Virtual project is different from traditional projects. The aim here is to adopt a structure based on the DAO (Decentralized Autonomous Organization) principle, not just the team. In other words, although the team will initially establish the project, in the long term, control will be left entirely to the community. When looking at the VIRTUAL token distribution, it is seen that 35% of the total supply is allocated to the ecosystem treasury, and this treasury will be managed by a DAO multi-signature wallet. In other words, after the team has laid the foundations firmly, they plan to slowly transfer decision-making processes to the community. This is completely in line with Virtual’s vision of transitioning from Web2 to Web3: Users will not only be content consumers, but also stakeholders who direct the development of the platform.Frequently Asked Questions (FAQ)Below you can find frequently asked questions and answers about VIRTUAL:What is Virtual (VIRTUAL) coin?: Virtual coin is the native cryptocurrency of Virtuals Protocol, which runs on the Ethereum Layer-2 network Base. This token, abbreviated as VIRTUAL, is used as the governance and utility token of the platform. Virtual coin plays the role of the base currency in many areas, from users creating and operating artificial intelligence agents to transactions on the platform and governance processes such as voting. Its total supply is 1 billion units and it is listed on some of the largest crypto exchanges (e.g. Binance, Bybit). The value of Virtual coin is formed in parallel with the growth of the platform and the demand for agent tokens in the ecosystem.What does Virtual token do?: VIRTUAL token has a multifaceted function in the Virtuals Protocol ecosystem. First, it is the currency of intra-platform transactions. Users use VIRTUAL when trading agent tokens or launching a new AI agent. For example, when a user wants to launch a new AI agent, they lock a certain amount of VIRTUAL tokens to create a liquidity pool for that agent and issue a token for the agent. Secondly, the VIRTUAL token is at the core of the reward and incentive mechanisms. The platform uses the VIRTUAL economy to distribute points and rewards to its active participants (content creators, social media contributors, etc.); this token is also the basis for future airdrops and distributions. Thirdly, VIRTUAL is a governance token. Token holders can lock their assets for a certain period of time to gain voting rights (veVIRTUAL) and vote on proposed changes or innovations on the platform. In short, the VIRTUAL token is used for three main purposes: transactions, rewards, and governance. VIRTUAL token dağılımı How does the Virtuals Protocol work?: The working logic of the Virtuals Protocol is based on users creating and collectively operating AI agents without any technical obstacles. The platform has a process called “Initial Agent Offering (IAO)”, which is the way to launch a new AI agent and its token. A user uses the platform interface to define and create their dream agent. This agent can be a chatbot, a game character, or a financial assistant, for example. When creating an agent, the user locks up some VIRTUAL tokens to create a liquidity pool for that agent’s token. Then, the agent-specific token (for example, if your agent is named Alice, the ALICE token) is released to the market and other users can also purchase this token and become co-owners of the agent. Once the agent is activated, it gains the ability to learn, plan, and execute tasks thanks to the artificial intelligence framework on the platform called G.A.M.E. (Generative Autonomous Multimodal Entities). The agent can earn income by providing services or performing tasks to users in the environments it is integrated into (for example, in a game or social media platform). This income is automatically recorded through smart contracts and shared among agent token holders. For example, if a Virtual agent performs paid tasks in a game and generates income, this income is distributed to the token holders of that agent. Since all these processes are managed on the blockchain and with pre-programmed rules, they are transparent and reliable. What is a Virtual digital identity?: In the Virtual project, digital identity refers to the identities of users and AI agents defined on the blockchain. This happens in a few different ways: First, each user who participates in the Virtuals Protocol creates a profile on the platform with a crypto wallet or email. This profile is part of the user's Web3 identity and can be compatible with decentralized identity standards (Decentralized ID) if they wish. Second, and more specifically, each AI agent is a digital identity element. In the Virtual protocol, agents are defined as NFTs using the ERC-6551 standard. In this way, each agent has its own "account" and asset; in other words, the agent's digital identity is represented by that NFT. For example, an AI agent with an avatar appearance that you create on the platform is both recognized in the Virtual ecosystem and can be moved to other platforms thanks to its NFT identity. Third, the concept of Virtual’s digital identity is reinforced by social media integrations: users can link their Web2 accounts, such as Twitter (X), to their Virtual profile, thus obtaining a verified social identity on-chain. This integration symbolizes the combination of Web2 and Web3 identities. For example, when you connect your X account, it is possible for your tweets to earn points with certain hashtags or for a verified badge to appear next to your profile. As a result, Virtual has established a digital identity protocol that allows users to create a blockchain-based profile and representation without revealing their real identity data. These digital identities offer a versatile use case, appearing as your avatars in metaverse environments, your characters in games, or your AI assistants on social platforms.How is the future of Virtual coin seen?: Virtual (VIRTUAL) coin attracted attention in the crypto community after achieving a rapid rise and reaching a large market value in late 2024. The innovative structure of the project (AI + Web3 combination) and community support, according to many experts, pave the way for a positive future for the VIRTUAL token. Since each new AI agent launched on Virtuals Protocol increases the demand for VIRTUAL tokens, the coin's economy can also strengthen as the ecosystem grows. In addition, the project's goals such as metaverse integrations, real-world applications, and a full transition to DAO governance in 2025 and beyond may keep interest in VIRTUAL coin alive in the long term. However, due to the volatile nature of cryptocurrency markets, it is not possible to say anything definitive about the future. Investor sentiment, the competitive environment, and general market conditions will affect VIRTUAL's value. What matters is the Virtual project's success in creating a solid community and usage area. If the platform continues to attract more users and create real use cases, the future of Virtual coin may be bright in parallel. However, as with every crypto asset, there are risks in Virtual coin, and potential investors are advised to do their own research. Follow our JR Kripto Guide series to learn more about Virtual, which is pioneering digital identity and decentralized social media infrastructure in the Web3 world.
Crypto Company Backed by the Trump Family Raises $220 Million in Funding
The latest development in the crypto space came from American Bitcoin, a company co-founded by Eric Trump and Donald Trump Jr., sons of former US President Donald Trump. The company, which focuses on crypto mining and Bitcoin accumulation, raised $220 million through a private capital increase. The capital increase was confirmed by Hut 8 Corp, which holds a majority stake in the company, in an official filing with the US Securities and Exchange Commission (SEC).American Bitcoin raised fundsAs part of the funding, approximately 11 million shares were sold to private investors, with 10 million dollars worth of these shares purchased directly with Bitcoin. This demonstrates that American Bitcoin is actively engaged not only in mining but also in strategic BTC reserve accumulation. The filing stated that the proceeds will be used for strategic purposes such as purchasing Bitcoin and mining equipment. The average value per unit in Bitcoin purchases was set at 104,000 dollars. American Bitcoin currently holds 215 Bitcoin in its reserves. This asset may increase further in the future in line with the company's Bitcoin accumulation strategy. Launched in March 2024 and quickly gaining attention, this entity has managed to make a name for itself in just a few months through its political connections and aggressive growth plans.Plans to go public on NasdaqAnother important step for the company is its plan to go public. American Bitcoin plans to go public by merging with Gryphon Digital Mining, a crypto mining company listed on Nasdaq. The merger will be carried out through a share swap, and the new entity will trade on Nasdaq under the ticker symbol “ABTC.” It has been reported that Eric Trump will join the board of directors of the new entity following the merger.98% of the new entity will be owned by current American Bitcoin shareholders, indicating that the Trump family will retain significant control over the project. Hut 8 will continue to manage the operational processes of the new company.New office in DubaiMeanwhile, separate from American Bitcoin, the parent company Hut 8 has also decided to open a new office in Dubai as part of its global expansion strategy. Through the newly registered company “Hut 8 Investment Ltd.,” which was officially registered on June 23, the firm is expected to more effectively pursue its goals in crypto trading and crypto asset accumulation.Hut 8 CEO Asher Genoot stated in an interview with Bloomberg that the Dubai office will make the company's capital strategy more efficient. A company spokesperson emphasized that the Dubai office has no direct connection to American Bitcoin, which is linked to the Trump family.
What is Compound (COMP)?
Compound is a decentralized finance (DeFi) protocol that runs on the Ethereum blockchain. Founded in 2017 by Robert Leshner and Geoffrey Hayes, Compound offers users the ability to lend their crypto assets to earn interest or to borrow cryptocurrencies by providing collateral. Unlike traditional banks, this protocol, which works automatically through smart contracts without an intermediary institution in between, uses a completely collateral-oriented system regardless of values such as credit scores. Thus, anyone can quickly and reliably borrow on the blockchain in return for appropriate collateral or earn interest by lending their assets. Compound's native cryptocurrency, COMP coin, is a token used in the management (governance) of the protocol, and thanks to this governance system, control of the platform is distributed to the user community. Let's take a closer look at this project, which has a very important place in the cryptocurrency field...Definition and Origin of CompoundCompound is, in simple terms, a decentralized lending protocol. In other words, a digital market where users can lend their crypto assets and others can borrow these assets against collateral, without any intermediary institution. This protocol works with smart contracts on the Ethereum network and was launched as a developer-focused project. Developed by a company called Compound Labs, the protocol was first launched on Ethereum in 2018 and has since grown and developed, becoming an important part of the DeFi ecosystem. The Compound protocol stands out with its algorithmic interest rate model that detects supply-demand conditions in the market. Because thanks to this model, interest rates are automatically adjusted and balanced according to the liquidity in the pools with the Compound interest system. Trading page on Compound. Source: Medium/Calvin Liu Compound founders Robert Leshner and Geoffrey Hayes came together in 2017 to launch this project. Robert Leshner is a Chartered Financial Analyst (CFA), a former economist, and an experienced entrepreneur who previously founded two software companies. Geoffrey Hayes is an experienced name in the software world; he is one of the developers of the client software called Exthereum for Ethereum, and an engineer who founded two technology startups and managed the infrastructure teams at Postmates. The Compound protocol, founded by this duo, has taken its place among Ethereum DeFi projects since it works with Ethereum-based smart contracts and has brought the possibilities of blockchain technology to the financial world. One of the most striking aspects of the Compound protocol is the way it determines interest rates. Interest rates in the system are not imposed by any central authority; instead, a dynamic calculation is made based on supply and demand for each asset. The interest rate constantly changes depending on how much of that asset is available in the pool on Compound and how much it is in demand. For example, if an asset has a lot of liquidity in the pool, the interest rate will be low because there will be fewer borrowers of that asset; conversely, if there is a small amount of an asset left in the pool, the interest rate will increase, encouraging more users to invest (lend) that asset. This automatic interest rate balance algorithm allows Compound to adjust itself according to market conditions, allowing interest to be earned or paid at current rates at any time. The balance of an account during the borrowing and lending period can be calculated using these formulas using the current index. Source: Compound Finance The emergence of the Compound protocol is seen as a solution to the need for cryptocurrency holders to generate passive income from their idle assets. When it first launched in 2018, it conceptually offered a “money market” application: Users could lock their assets in this protocol and earn interest in return, and anyone who wanted could borrow by providing collateral. Its reliance on smart contracts on Ethereum allowed transactions to be executed automatically and transparently, without the need for any authority. This innovative approach quickly made Compound a popular project in the DeFi space and inspired many similar decentralized finance applications.Compound History: Major MilestonesAs a result, Compound stands out as one of the pioneering projects that shaped the evolution of credit protocols in the world of decentralized finance (DeFi). So, what are the major milestones that stand out in Compound’s development process?2017 - Founding: Robert Leshner and Geoffrey Hayes founded Compound Labs and began the development of the Compound protocol. The project’s goal was to create a money market with algorithmic interest rates on Ethereum.September 27, 2018 - Platform Launch: The Compound protocol was officially launched on the Ethereum mainnet. Initially working with a few Ethereum-based assets, the platform performed its first lending and borrowing transactions via smart contracts on this date.May 2019 - Compound V2 Update: The protocol was upgraded to version V2, making significant improvements. This update added support for more crypto assets, defining separate risk parameters and interest rate models for each asset. Separate smart contract gateways were also created for each asset market. The V1 version was deactivated after this date.2020 - COMP Token Launch and Community Governance: In March 2020, Compound’s native token COMP was released on Ethereum. With the launch of the COMP token in June 2020, the Compound protocol transitioned to community governance. In other words, decisions regarding protocol settings and development began to be made by votes of COMP holders. The distribution of COMP tokens to incentivize users (Liquidity Mining/Yield Farming) also began during this period. As of June 15, 2020, a certain amount of COMP was distributed to lenders and borrowers in each Ethereum block to reward user participation, and this move brought a huge explosion of interest to Compound in the DeFi community. As a result, the total value locked on the platform (TVL) increased rapidly.July 2020 - Entering the Top 5 in DeFi: Compound rose to the top of the DeFi ecosystem, also driven by COMP distribution incentives. As of July 2020, the top 5 DeFi projects, including MakerDAO, Compound, Aave, Synthetix, and Curve, controlled 78% of the total value locked in the ecosystem.June 2021 - Introduction of Compound Treasury: In order for the DeFi world to serve players other than individual users, the institutional product called Compound Treasury was announced. Compound Treasury offered businesses and financial institutions that did not want to deal directly with crypto a simplified way to access the interest yields of the Compound protocol. As part of this product, companies could earn a fixed 4% annual interest yield by depositing US Dollars or USDC stablecoin directly through Compound Labs’ service. This service, which hides the daily liquidity opportunity and crypto-related complexities (such as private key management, crypto-fiat conversion, interest rate volatility), attracted attention. 2022 - Compound V3 and Multi-Network Support: In August 2022, the Compound III protocol update was launched on the Ethereum mainnet by community vote. Compound v3 simplified risk management by introducing a borrowing model based on a single underlying asset (such as USDC). Then in 2023, Compound began offering services outside of Ethereum; the Compound protocol was launched on the Polygon network in March 2023, on Arbitrum in May 2023, and on the Base network in August 2023. This has made it possible for users in different blockchain ecosystems to access Compound’s lending and borrowing services. At this point, Compound v2 has begun to be phased out. Today: Compound continues to exist as a protocol that has proven itself in the DeFi sector, locking billions of dollars of crypto assets. The protocol, which has been continuously developed after its rapid rise in 2020, is still one of the largest decentralized lending platforms as of 2025, when this article was written. Compound, which continues to develop with community governance, maintains its user base by adapting to DeFi innovations.Why is Compound Valuable?In this section, we will examine in detail the main factors that determine why Compound is considered so valuable; we will shed light on the prominent features of the platform, from interest mechanisms to governance model, from security measures to user experience. Here are all the details...Decentralized Interest Earning and Credit Opportunity: According to many, Compound is one of the reliable ways to earn passive income (interest income) with the cryptocurrencies you have. Instead of keeping your crypto assets in your wallet, such as idle savings in a bank account, you can automatically earn interest by depositing them into Compound. Moreover, since these interest rates are determined according to market conditions, they can be more competitive compared to the fixed and generally low interest rates in traditional banks. For example, while the annual deposit interest of banks is at very low levels such as 0.2%, the annual interest rates on Compound have periodically exceeded this. In this way, users can evaluate their financial assets by earning interest income directly from the protocol without any intermediaries.Automatic and Transparent Operation: Compound’s algorithmic interest rate model adjusts interest rates based on current market data without human intervention. This predictable mechanism is a great advantage for users. Everyone can control what interest rates are changing based on (because the smart contract code is open), which creates trust. Thanks to its decentralized structure, no person or institution can arbitrarily change interest rates; all rules are fixed in the protocol’s code and applied equally. In addition, since transactions take place on the blockchain, a transparent record is kept. Thus, all users can track deposited collateral, loan amounts and rates on the chain. Governance and Community Participation with COMP Token: The Compound protocol has gradually shifted to community governance since 2020. The COMP token is what makes this possible. So what is COMP coin? COMP acts as the platform’s governance token; that is, decisions regarding the future of the protocol (e.g. adding new assets, changing collateral rates, updating the interest model, etc.) are made by the votes of COMP holders. This adds great value to users because the platform’s development is in the hands of its users. Since each COMP coin represents a vote, everyone from large investors to small users can make their voices heard. This democratic governance model creates a sense of ownership and loyalty to the platform. In addition, Compound has encouraged its users to participate in the governance of the protocol by distributing extra COMP rewards to its users while using the platform (liquidity mining program). Reliability: Compound is a long-standing and proven protocol in the DeFi world. Despite experiencing various market cycles (including bull and bear markets) since 2018, its smart contracts have continued to work flawlessly, with no serious outages or vulnerabilities. The smart contracts behind the protocol have been audited by leading security firms and reviewed by developers worldwide because they are open source. Compound Labs has implemented bug bounty programs with an emphasis on security, offering white hat hackers up to $150,000 in rewards if they report potential vulnerabilities. Thanks to this, the protocol has been kept under constant observation and security vulnerabilities have been largely prevented. All these measures and reliable performance over the years have given Compound a respected position in the DeFi ecosystem. In fact, the Compound protocol is referred to as “one of the cornerstones of DeFi” and is seen as a stable platform that offers high yields and deep liquidity.How does Compound work?So how exactly does Compound work? To understand how Compound works, it is first necessary to understand the basic operating logic of the system: Compound offers cryptocurrency holders the opportunity to lend their assets in return for interest or to receive loans in return for collateral through a decentralized protocol. This process takes place entirely through smart contracts and without the need for any intermediaries. When users deposit supported crypto assets into Compound, these assets are added to the protocol's liquidity pools and receive representative tokens called cTokens in return. These cTokens represent investors' earnings by reflecting the interest accumulated over time.Interest rates are automatically determined according to supply and demand in the protocol. For example, if there is too much money in the liquidity pool for an asset, the borrowing interest for that asset decreases; when demand increases, the interest rate increases, both encouraging new investments and pushing borrowers to repay. This dynamic interest structure is one of the most important mechanisms that automatically balances imbalances in the market and makes the protocol sustainable. While those who invest their assets in the protocol earn passive income, those who want to borrow money can access the loan by presenting another asset they have as collateral. Compound working logic. Example: Let's say you deposited 100 ETH and the exchange rate is 0.2. You will receive 100/0.2 = 500 cETH. Over time, let's say 1 month, the exchange rate will increase and reach 0.201. If you want to return to ETH at that time, you can use your cETH to buy 500*0.201 = 100.5 ETH. Thus, you will have a profit of 0.5 ETH. Source: Coin98 The most critical issue that users should pay attention to during the borrowing process is the collateral ratio. Compound works on the principle of “over-collateralization”; that is, the value of the loan received must be lower than the collateral deposited. This system allows the protocol to protect itself by selling the collateral in the event that the debt is not repaid. However, if the price of the cryptocurrencies deposited as collateral falls or the value of the borrowed asset increases, the user faces the risk of liquidation. In this case, the protocol automatically closes the debt by selling a portion of the collateral. Therefore, borrowers need to constantly monitor their positions and keep their collateral ratios at healthy levels. Another notable aspect of Compound is its governance model with COMP tokens. COMP holders can vote on decisions made regarding the future of the platform. For example, issues such as interest rate models, the addition of new collateral types, or the updating of existing parameters are determined by community voting. In this way, Compound operates in accordance with the principle of decentralization not only technically but also administratively. COMP tokens are also distributed to users as rewards through liquidity mining, encouraging community participation. Compound token distribution Who is the Founder of Compound?So, who is the founder of Compound? At this point, Robert Leshner stands out. Who is Robert Leshner? Robert Leshner is known as the person who founded Compound Labs in 2017 and brought the Compound protocol to life. Leshner is an experienced name at the intersection of finance and technology: Having the title of Chartered Financial Analyst (CFA) and having worked as an economist for a while shows that he has a deep knowledge of financial markets. On the technology side, Leshner gained experience as an entrepreneur who founded two different software startups before Compound. After founding the San Francisco-based Compound Labs company, Leshner turned his vision of creating a decentralized credit market using Ethereum's smart contract capabilities into reality with his team. Robert Leshner, one of the pioneers in the DeFi field, has become a well-known and respected figure in the industry with the success of the Compound protocol. In fact, Leshner is considered one of the early leaders of the DeFi movement and is referred to as one of the "creators of DeFi" in some circles. Robert Leshner. Source: Fortune What is Geoffrey Hayes’ role? Geoffrey Hayes is the other co-founder and technical architect of Compound. Hayes served as CTO (Chief Technology Officer) at Compound Labs and led the technical development of the protocol. Geoffrey Hayes, who comes from a software engineering background, is also a well-known developer in the Ethereum world; he is one of the main contributors to Exthereum, an alternative client software for Ethereum. Hayes also had entrepreneurial experience as a technical co-founder of two startups before founding Compound, and gained experience building scalable systems by managing infrastructure teams at large technology companies such as Postmates. The smart contract infrastructure, security mechanisms, and scalability solutions of the Compound protocol were created by the team led by Hayes. Thanks to this, Compound has been built on a solid technical foundation from day one. Founded by Robert Leshner and Geoffrey Hayes, Compound Labs’ role in the DeFi and cryptocurrency space is actually quite large. Because this platform not only developed the Compound protocol, but also contributed to the growth of the DeFi ecosystem. The Compound Labs team made the transition to a fully decentralized management possible by handing over the protocol to the community in 2020. In fact, one of the biggest reasons why 2020 is called “DeFi Summer” is the Compound revolution. In addition, Compound Labs tried to increase institutional adoption of DeFi services with innovative products such as Compound Treasury, which it announced in 2021. As a result, the vision of this duo is to move the concepts of lending (lending) and borrowing in cryptocurrencies from the monopoly of traditional finance to the blockchain.Frequently Asked Questions (FAQ)Below are some frequently asked questions and answers about Compound:What is Compound and how does it work?: Compound is a decentralized finance (DeFi) lending protocol that runs on Ethereum. It allows users to earn interest by depositing their cryptocurrencies into the platform or to receive cryptocurrency loans by providing collateral. Since there is no intermediary such as a bank, transactions are carried out automatically by smart contracts. In Compound's operating logic, deposited assets are collected in common pools and distributed to those who want to take out loans from there. Interest rates are determined in real time according to supply and demand in the system - if liquidity is high, interest decreases, if demand is high, interest increases. Thus, Compound creates a market in constant balance, where users can borrow and lend safely.What does COMP token do?: COMP token is a cryptocurrency used to manage the Compound protocol. COMP holders have the authority to vote on proposals related to the platform and change the protocol rules. For example, decisions such as supporting a new asset or updating collateral rates are made by the votes of the COMP community. Each COMP token represents one vote. In addition, as part of Compound’s first community incentive program, COMP tokens were distributed as a reward to those who used the platform. In other words, those who borrowed and lent on Compound were encouraged to participate in governance by earning extra COMP for a period of time. In short, COMP is a governance and reward token that connects users to the platform. How to earn interest on Compound?: To earn interest on Compound, you must first deposit one of the supported crypto assets into the platform. When you do this, the protocol gives you cTokens representing the amount you deposited and you start earning interest immediately. The interest you earn is calculated according to the currency of the asset you deposited and the current annual interest rate; the yield is added to your balance in a compounded manner with each block. For example, if you deposit 1000 USDC and the annual interest is 2%, you will have reached a value of approximately 1020 USDC at the end of the year (if the interest rate remains constant throughout the year). Since interest rates can constantly change according to market conditions, the APY (annual yield) value also fluctuates, but all the interest you earn will be added to your principal until you withdraw your assets. Compound is one of the popular ways to earn passive income with crypto, and offers the flexibility to withdraw the principal and accumulated interest whenever you want.Is it safe to get a loan on Compound?: Compound is a DeFi protocol that is considered highly reliable in the industry. Its smart contracts have been audited many times and the platform has been operating for years without any major deficits. In this respect, it can be said to be technically safe. The Compound loan process is also systemically safe; because each loan transaction is backed by excess collateral and an automatic liquidation mechanism is activated when necessary, thus protecting the money of the lenders. However, for the individual user, the concept of “safe” depends on whether you manage your collateral well. If the value of the asset you deposited as collateral suddenly drops and your debt exceeds the collateral, your position may be liquidated and you may lose your collateral. Therefore, you should be careful about liquidation risk when getting a loan on Compound.How does Compound’s governance system work?: Compound’s governance system is entirely run by COMP token holders. When a proposal for a change or update to the platform (proposal) is introduced, it is first put to a formal vote if it receives sufficient COMP support. The vote takes place on smart contracts and usually lasts 3 days. During this period, COMP token holders vote “yes” or “no”. If the specified majority threshold is exceeded and the “yes” votes prevail, the proposal is accepted. Since the content of the proposal is a piece of code that changes the protocol parameters, the smart contract automatically updates the protocol at the end of the vote (usually there is a 2-day waiting period for the implementation of accepted proposals, except in emergencies). The Compound development team or founders are not directly involved in this process; all decisions are made and implemented by the community. Of course, users discuss the proposals on forums and social media, evaluating their pros and cons. The goal of the governance system is to ensure that Compound remains decentralized and neutral, creating a collective governance model that considers the interests of all stakeholders of the protocol. In short, governance in Compound operates with the voting power of COMP tokens, which puts the future of the platform in the hands of the users. To understand how passive income and decentralized finance work in the DeFi world, check out our JR Kripto Guide series.
What is Theta (THETA)?
Theta Network (THETA) is a blockchain-based project designed as a decentralized video distribution network. Its goal is to address the high cost, low quality, and centralization issues in the video streaming industry. It improves content distribution by encouraging users to share idle internet bandwidth and computer resources. In this way, Theta, as a Web3 media infrastructure, offers an alternative video streaming blockchain solution to content distribution networks (CDNs). Here is a detailed guide to what Theta is, its history, why it is important and valuable, and its founders...Definition and Origin of ThetaTheta Network is a decentralized video streaming and distribution platform that works with a peer-to-peer (P2P) sharing model. To briefly answer the question of “What is Theta?”: Theta is a blockchain network that allows users to share bandwidth by relaying the video to others while watching it and earn rewards in return. Launched with its own mainnet in 2019, Theta aims to bring a decentralized approach to the video streaming industry. This project first emerged in 2017 under the name Theta Labs; Theta Labs founders Mitch Liu and Jieyi Long announced their vision of a “decentralized video distribution network” in a whitepaper they published at the end of 2017. The Theta Labs project was initially born out of the experiences of SLIVER.tv, an e-sports-focused broadcast platform, and the idea of developing a blockchain-based solution was born in this way due to the limitations of the central infrastructure. Theta’s innovative model also makes content viewers a part of the network. While only content distribution companies manage network traffic on traditional video platforms, on Theta users offer their excess bandwidth and processing power to the network to transmit video data to other viewers, and are rewarded with TFUEL tokens in return for these contributions. Thus, Theta creates a “sharing economy” where viewers are both content consumers and distributors. This approach increases the quality of video streaming thanks to the multitude of nodes in the network and reduces the platform’s operating costs. Since end users can earn tokens while watching videos, participation in the network is encouraged. If we look at who founded Theta; the names behind the project are Mitch Liu (CEO of Theta Labs) and Jieyi Long (CTO), and the Theta network was launched under the leadership and contributions of these two entrepreneurs (We will discuss the founding team in detail in the following sections of the article).Theta's History: Important MilestonesSince its inception, the Theta project has gone through many important milestones in terms of both technical developments and collaborations. Below you can find the key events in the history of Theta Network in chronological order:2017: Theta Labs' establishment and whitepaper - Theta Labs was established under the leadership of Mitch Liu and Jieyi Long. In late 2017, Theta Network's technical report (whitepaper) was published and the basic vision of the project was announced. This report detailed the idea of a decentralized video distribution network and the model where users would earn rewards by sharing bandwidth. In addition, the Theta project attracted the attention and support of advisors such as YouTube founder Steve Chen during this period. That's how we can answer "when did Theta launch?" questions.2019: Mainnet Launch - Theta Network's own blockchain network was officially launched on March 15, 2019. With this launch, Theta transitioned from the ERC-20 token on Ethereum to its own mainnet. TheTA token has now become Theta's native token, answering the questions "What is Theta coin?" At the same time, a second token, Theta Fuel (TFUEL), was created. THETA is used for governance and staking on the mainnet, while TFUEL is designed to be used for transaction fees and rewards on the network (5 billion TFUEL were produced in the first creation). The launch of Mainnet 1.0 was the first concrete step in bringing Theta's decentralized video distribution infrastructure to life. 2020: Guardian Nodes and TFUEL Usage (Mainnet 2.0) - In May 2020, Theta Mainnet was updated to version 2.0. With this update, community nodes called Guardian Nodes were launched and the Theta network switched to a two-tiered consensus mechanism. While Validator Nodes operated by large companies or organizations now produce the first blocks, individual Guardian Nodes that stake at least 1,000 THETA began to verify these blocks and ensure network security. This way, Theta’s blockchain has reached both a high transaction capacity and a highly decentralized structure with the participation of thousands of community nodes. The question of "what is TFUEL token" also found a practical answer at this stage: Users who transfer video data via Guardian Node and Edge Nodes (the endpoints of the network) earned TFUEL in proportion to their contribution, and the economic model within Theta began to work. 2020 also saw the beginning of an important partnership with Google; Google Cloud became one of the institutional validators of the Theta network and provided infrastructure support. Similarly, industry leaders such as Samsung also began to make strategic investments in Theta and operate network nodes during this period. A network of Guardian, Edge nodes, and Validators. Source: Theta whitepaper 2021: NFT Marketplace and New Partnerships - Theta upgraded to Mainnet 3.0 in March 2021, bringing smart contract support and the Elite Edge Node concept. Elite Edge Nodes strengthened the network’s distributed video infrastructure by offering a model where users can upgrade standard edge nodes by staking TFUEL and earn additional rewards. 2021 also marked the Theta ecosystem’s foray into the NFT space. Theta Labs launched its own NFT marketplace called ThetaDrop, initially bringing digital collectibles from content partners like the World Poker Tour (WPT) to users. During the year, it was announced that popular artist Katy Perry would be launching NFT collectibles through ThetaDrop, strengthening Theta’s position in not only video distribution but also in the digital arts and entertainment space. 2021 was also significant in terms of corporate partnerships: For example, Sony’s European R&D unit joined Theta’s corporate validator council. Sony Europe runs its own validator node on the Theta network, joining giants like Google and Samsung who are already on the network, bringing together tech and media companies from around the world on Theta’s board of directors. ThetaDrop screenshot. 2022 – 2023: Metachain and Ecosystem Growth - In 2022, Theta announced the Theta Metachain concept to increase scalability and launched the Metachain with Mainnet 4.0 in December 2022. The Metachain allows specialized subchains connected to the Theta main chain to operate, enabling the creation of parallel blockchains for different use cases such as video streaming, NFTs, metaverse, and more. This technical development paved the way for Theta to become a Web3 infrastructure that can process many more transactions much faster in the future. In 2022 and 2023, the Theta network continued to grow by deepening existing partnerships and adding new ones. In particular, collaborations were established with content providers such as Lionsgate, MGM, and popular programs such as American Idol in the media and entertainment sector. Theta Metachain architecture. Source: Theta whitepaper Steps have been taken to integrate Theta technology into Samsung’s next-generation smart TVs. After 2023, Theta Network has become one of the leading platforms in decentralized video distribution with its extensive edge network of thousands of global nodes, enterprise-level partners, and advanced features. Theta Edge Node screen. Source: Theta Docs 2024-2025: The Theta Metachain infrastructure, introduced in late 2022, has become a structure that significantly increases Theta’s scalability in 2024 and beyond. This architecture allows for parallel chains, each dedicated to different projects. In late 2024, Theta Labs also took further steps to integrate with artificial intelligence (AI) projects. An AI integration called Theta Edgecloud is eagerly awaited by 2025.Why Is Theta Valuable?To understand the value and importance of Theta, as well as the answer to the questions of "What is Theta for?", it is necessary to look at the problem it aims to solve and the innovations it brings. In traditional video streaming platforms, content distribution requires high bandwidth and usually occurs over central servers/CDNs. This structure creates the problem of congestion in reaching the user, called the "last mile", especially in high-resolution (e.g. 4K, 8K) or VR broadcasts that appeal to the whole world. Theta video distribution, on the other hand, offers a solution to this problem with decentralized bandwidth sharing: Thousands of edge nodes on the network cache videos in regions where they are popular and deliver them to nearby viewers. As a result, content platforms need less expensive data center investments; viewers get a smoother and higher-quality broadcast experience. Theta protocol optimizes internet traffic in an intelligent and distributed way by showing that it is possible for the viewer to receive the broadcast from another viewer in the neighborhood instead of from a distant server. In this respect, Theta is a concrete example of the web3 media infrastructure concept and provides a token-incentivized decentralized alternative to traditional CDN providers.One of the elements that makes Theta special from a technical perspective is its dual-token economic model and multi-layered blockchain architecture. So, what is the difference between THETA and TFUEL? These two tokens have different roles in the Theta ecosystem and together ensure the continuity of the network. THETA is the token used for governance and staking (similar to mining, participating in network security by locking tokens). THETA token holders have a say in the management of the network and stake their THETA to run large validator nodes (e.g. Google, Samsung) or to participate in community Guardian Nodes. TFUEL is the transaction and operation token of the Theta chain. TFUEL is the “fuel” token that is given as a reward to nodes that share video streaming data, and also pays for smart contract transactions, NFT minting and general transaction fees.In summary, THETA secures the network and provides a say in governance, while TFUEL is the token that runs the network, enabling micropayments and content sharing rewards. This distinction positions Theta in a structure similar to Ethereum’s ETH/GAS concept with its dual token model, but in Theta, these roles are taken on by two different tokens. Thus, users who share content receive their rewards in TFUEL, which has a more stable value, while the control and value of the system is shaped around the THETA token. Another value proposition of Theta Network is the corporate integration and partnerships behind it. The presence of tech giants such as Google, Samsung, and Sony on the network’s governance council has both given Theta credibility and opened doors for real-world applications. For example, Google’s integration of its cloud infrastructure into the Theta.tv platform is a critical support for the network’s scalability and performance. Partnerships with Samsung signal that Theta technology could be integrated into consumer electronics such as smart TVs and mobile devices in the future. Indeed, Theta Labs’ partnerships with Samsung have explored possibilities such as having the Theta app pre-installed on Samsung Galaxy phones or Smart TVs. This type of device-level integration is seen as a development that could exponentially increase Theta’s adoption. Theta also has important partners in the media and entertainment sector: Hollywood studios (Lionsgate, MGM), famous artists (Katy Perry), and popular programs (American Idol) are running NFT and digital collectible projects on the Theta network. Who is the Founder of Theta?The team behind Theta Network consists of experienced names in technology and entrepreneurship. The answer to the question of who is the founder of Theta? points to two people: Mitch Liu and Jieyi Long. These two co-founders brought Theta Labs to life with their complementary talents and visions. Mitch Liu: Who is Mitch Liu? Mitch Liu, the CEO and co-founder of Theta Labs, has a deep-rooted background in the technology and gaming sectors. Liu, who was one of the founders of Gameview Studios, which emerged in the mobile gaming field in 2010, is especially known for the success of the game "Tap Fish". Gameview Studios quickly reached millions of users and was acquired by Japanese gaming giant DeNA. Before his first venture in the gaming sector, Mitch Liu was among the founders of the mobile advertising and in-app payment company Tapjoy in 2007. Liu, who completed his education in the MIT Computer Engineering (Bachelor's) and Stanford MBA programs, has been a mentor and angel investor in various startups in Silicon Valley. He also served as a mentor at Play Labs, a gaming and VR-focused accelerator program at MIT, supporting innovations at the intersection of blockchain and gaming. Mitch Liu’s focus on e-sports and video streaming continued in 2015 with the SLIVER.tv platform he founded. SLIVER.tv is a pioneering initiative that broadcasts e-sports tournaments as 360° video using VR (virtual reality) technology. The idea for Theta Network was actually born out of SLIVER.tv’s search for a blockchain-based solution to its bandwidth and distribution problems. Mitch Liu shaped the project’s business vision by envisioning a sharing model where users would also earn. Jieyi Long, Mitch Liu Jieyi Long: Jieyi Long, the other co-founder and CTO (Chief Technology Officer) of Theta Labs, is the leading figure behind the technical architecture of the network. Academically, Long holds a bachelor’s degree in microelectronics from Peking University and a doctorate in computer engineering from Northwestern University, and specializes in high-performance distributed systems and algorithms. Jieyi Long has worked on virtual reality (VR), gaming, and large-scale distributed systems for years, and holds many patents in these areas. In particular, his patents on 360° VR video streaming and blockchain-based data distribution are the foundational innovations of Theta Network. Long also has a strong entrepreneurial side: Before Theta, he co-founded SLIVER.tv with Mitch Liu, developing e-sports VR broadcasting. Long was also a co-founder of MadSkill Gaming Studios, a company that developed a real-time multiplayer game engine for mobile platforms. Theta Network’s technical vision—to build a global data streaming infrastructure powered by smart contracts without the need for a central server—came to fruition in large part thanks to Long’s innovative approach. He is credited with architecting the Theta protocol, which combines blockchain technology with video streaming.Frequently Asked Questions (FAQ)Below are some frequently asked questions and answers about Theta:What is Theta and what problem does it solve?: Theta Network is a decentralized video streaming platform built using blockchain technology. In traditional video streaming services, content is delivered through a limited number of centralized servers and data centers. Theta revolutionizes this model by encouraging peer-to-peer data sharing among viewers. Viewers also stream the video they watch to other users in their environment and receive token rewards in return. In this way, Theta solves problems such as high bandwidth requirements (especially close to the end user, the “last mile” problem) and high CDN costs, and offers cheaper and higher-quality content distribution.What is the difference between THETA and TFUEL?: THETA and TFUEL are two native cryptocurrencies of Theta Network, but they have different functions. THETA is the governance token of the network; The total supply is fixed at 1 billion and it is necessary to stake THETA tokens to become a validator/guardian node. THETA holders participate in network governance and have the right to vote on important protocol changes. TFUEL is Theta's operational token and is used to pay transaction fees and reward those who contribute to video distribution. In short, THETA is used to secure and manage the network, while TFUEL is used for the in-network economy (rewards, payments). Together, these two tokens ensure the balanced operation of the Theta ecosystem; for example, viewers earn TFUEL, while large shareholders lock their THETA and ensure the security of the network. How does Theta work and who controls it?: Theta Network operates with a multi-layered node structure and a unique consensus mechanism. The control of the network is not in a single center; on the contrary, there is a distributed structure consisting of Validator Node and Guardian Node layers. Large institutions and companies (such as Google, Samsung, Sony) or large THETA holders produce blocks as Validator Nodes. Community members verify these blocks as Guardian Nodes with a lower threshold and provide consensus. This multi-level BFT (Byzantine Fault Tolerance) consensus mechanism enables thousands of participants to make secure joint decisions. As a result, the decision-making and block generation process in the Theta network is carried out in cooperation with a few large companies and large community nodes. No single unit controls the entire network; network management is carried out with the voting and participation of THETA token holders and the coordination of the validator council (members such as Google, Samsung, Sony, etc.). Thanks to this structure, Theta is both supported at the institutional level and secured by the community. How does Theta decentralize video streaming?: Theta uses edge nodes called Edge Nodes to decentralize video streaming. These edge nodes can be individual users' computers, phones, or smart TVs. When a user watches a Theta-supported broadcast, their device also sends parts of the video to other users nearby who are watching the same broadcast. Thus, without the need for a central server, a mesh network is formed between viewers and video content is distributed with a kind of “user-to-user CDN” model. The Theta protocol automatically manages which user sends data to whom, who shares how much, and how much TFUEL rewards they receive. In addition, with the Elite Edge Node system coming in 2021, users can stake TFUEL to become more stable edge servers that are always on, supporting uninterrupted and high-quality video streaming. Who are Theta’s corporate partners?: Theta Network has been supported by important corporate partners and investors since the beginning. Google, Samsung, and Sony are among Theta’s most well-known corporate partners, and these companies operate Theta’s Enterprise Validator nodes. For example, Google Cloud has both run validator nodes and provided cloud services for Theta’s infrastructure. Samsung NEXT, Samsung’s investment arm, made an early-stage investment in Theta; Samsung has also considered integrating the Theta application into its device ecosystem. Sony Europe joined Theta’s board of directors in 2021, taking on a validator node in Europe. In addition, entertainment agency Creative Artists Agency (CAA), blockchain investment funds (such as Blockchain Ventures, DHVC), and crypto industry players (e.g. Binance) are also among Theta’s institutional supporters and partners.Continue reading our JR Kripto Guide series to explore Web3 media infrastructures and THETA’s future role.
Circle Officially Applies for National Bank License: What Does This Mean for USDC?
Circle, the second largest stablecoin issuer in the cryptocurrency sector, has taken a remarkable step to deepen its ties with the traditional financial world. The company has officially applied for a national bank license in the US. According to information shared by Reuters, this license will grant Circle the authority to store its own reserve assets and hold cryptocurrency assets in trust for institutional clients.Circle has made a major applicationCircle, the world's second-largest stablecoin company, has taken another step toward integration with the traditional financial system. According to a report by Reuters, the company has officially applied for a national bank license in the US. This move comes shortly after Circle's successful initial public offering (IPO) this month.Circle Internet Group saw significant interest in its IPO on June 5, when it began trading on the stock exchange under the symbol “CRCL.” The share price was set at $31, and it rose by 167% on its first day of trading. The IPO, which received 25 times more demand than expected, went down in history as one of the most notable IPOs in recent years. The company's stock value is currently hovering around $181, giving Circle a market value of over $40 billion. The national bank license Circle has applied for is issued by the US Office of the Comptroller of the Currency (OCC). If approved, the company will be able to provide custody services for its own reserve assets and securely hold cryptocurrency assets on behalf of institutional clients. However, the license will not grant the authority to accept cash deposits or issue loans, as is the case with traditional banks. The name of the new unit operating under the OCC has been designated as “First National Digital Currency Bank, N.A.”Circle, which has been striving to obtain bank status for a long time, had previously denied various claims and stated that it had not applied for a national trust license or industrial bank license. However, this step now indicates Circle's desire to align more closely with the legal framework of the traditional financial world.Ultimately, Circle's move represents a critical development for institutional investors. At the same time, it could also create a strategic advantage in terms of regulations. Bernstein analysts noted in a report published earlier this week that Circle's USDC stablecoin is likely to become the largest regulated stablecoin under the GENIUS Act. This could give the company a “regulatory first-mover advantage.”Circle's USDC token currently has a market value of $61.5 billion and is the second most widely used stablecoin in the market.
Crypto Regulations in Trump's Massive Legislative Package: Is the July 4 Target in Jeopardy?
US President Donald Trump's massive legislative package, dubbed the “Big Beautiful Bill,” which he aims to pass into law by July 4 Independence Day, has begun to face delays due to intense debates and amendment proposals in the Senate. The bill's provisions, which include budget and tax reforms as well as provisions related to cryptocurrencies, have sparked disagreements among members of Congress. This situation has further complicated the process, while some important regulations have already begun to emerge.Crypto tax exemption proposal: Lummis takes the stageRepublican Senator Cynthia Lummis has proposed a tax reform that closely affects crypto users and miners in the US by adding a provision to the bill. According to Lummis' proposal, the goal is to exempt kripto transactions under $300 and transactions totaling less than $5,000 annually from taxation. Additionally, crypto income obtained through airdrops, staking, and mining is also expected to be exempt from taxation until sold. Senator Lummis said in a statement, “Miners and stakers have been taxed twice for years: first when they receive the block reward, and second when they sell. We must put an end to this injustice.” The proposal also includes exempting most crypto lending agreements from taxation and applying the 'wash-sale' (buy-sell cycle for tax advantage) rules to be applied to crypto.This move is seen as part of Lummis' long-standing regulatory efforts, known for her crypto-friendly stance among Republicans. Indeed, Lummis had previously played a leading role in drafting the GENIUS Act, which covers stablecoin regulations.Warren rejects strict crypto banMeanwhile, a proposal led by Democratic Senators Elizabeth Warren and Jeff Merkley to ban government officials and their family members from owning cryptocurrency assets or promoting them in this field was rejected by the Senate. The bill had been expanded to cover many public officials, including the president, vice president, and members of Congress, as well as their spouses and children. It even aimed to restrict temporary public officials such as Elon Musk for one year after leaving office.Lummis opposed the proposal, arguing that “I understand the ethical concerns, but this proposal undermines American innovation and competitiveness,” claiming that the scope of the bill was excessive.Trump's July 4 goal in jeopardyThe bill passed the House of Representatives in May by a narrow margin of 215 to 214. However, the Republicans' slim majority in the Senate is prolonging the process. The process, known as “Vote-a-rama,” in which hundreds of amendments are put to a quick vote, has been going on for days. So far, negotiations on hundreds of provisions have continued into the night, and no agreement has been reached yet. As a result, the likelihood of the bill returning to the House of Representatives in time to be enacted by July 4 appears to have diminished.Elon Musk's harsh response: “I'll start a new party”The spending authorities and potential debt increase introduced by the bill have also prompted Tesla CEO Elon Musk to take action. Musk, who previously supported Trump's campaign, posted on X (formerly Twitter), “If this insane spending bill passes, I will start a new party the next day,” signaling the launch of a new political movement called the “America Party.”Musk argued that the bill would add $3.3 trillion to the U.S. debt over the next 10 years, saying, “Every member of Congress who promised to reduce government spending and yet voted yes on this bill should be ashamed. I will do everything in my power to unseat them in the next election.”
What is Moo Deng (MOODENG)?
MOODENG emerged in 2024 as a fun cryptocurrency themed around a cute pygmy hippo. This community-focused meme coin quickly gained a lot of attention thanks to internet jokes and viral content. The name “Moo Deng” comes from the famous baby hippo living in the Khao Kheow Open Zoo in Thailand. This project has gained a place in the crypto world by relying on humor and community power rather than traditional investment tools. Launched on the Solana blockchain, meme coin MOODENG gives a humorous message as if inviting its users to join the train with the motto “Moo it or lose it”. So why did this cow-themed coin become popular and what is the idea behind it? Here is a comprehensive guide from the birth of the Moo Deng project to its areas of use.Definition and Origin of Moo DengWhat is Moo Deng? What is MooDeng coin? Moo Deng is a community-initiated meme coin project based on Solana that was born in 2024. It is based on a true story and internet phenomenon: “Moo Deng,” a baby pygmy hippo born in Thailand and whose videos went viral when he was a few months old, inspired this cryptocurrency. Moo Deng’s popularity also caught the attention of Ethereum co-founder Vitalik Buterin. Buterin declared himself as Moo Deng’s “adopted father” and donated 10 million Thai baht (about $294,000) to the Khao Kheow Open Zoo in Thailand. This donation helped create a special habitat for Moo Deng and his family. The project developers brought the fun and community-oriented coin concept to life by bringing the internet fame of the cute hippo Moo Deng to the crypto world. Launched in September 2024 in the Solana ecosystem, the MOODENG token preferred the Solana network, which allows for fast and low-fee transactions. This project, which grew completely with the ownership of the internet community and without any company support, attracted attention by distributing 1,500 MOODENG tokens free of charge to thousands of users with an airdrop campaign in the first stage. The aim of the Moo Deng project is to offer an experience that blends humor and financial investment. The slogan “Moo it or lose it” also reflects this purpose. With this expression, the community is called not to miss the train and join the fun. The founders of the project are more focused on creating an enjoyable community in the crypto space than taking themselves seriously. In fact, the MOODENG token did not have a concrete purpose of use or a technical whitepaper at first. Its value was seen to depend largely on the interest of market participants and the popularity of the joke. However, this did not prevent the token from gaining rapid adoption thanks to the viral interest that exploded in late 2024.Moo Deng History: Major MilestonesIt was no coincidence that MOODENG quickly became one of the internet’s most talked-about meme coin 2024 projects. This success is not only based on a cute hippo figure; it also includes a remarkable community movement, humorous marketing campaigns, and creative events. Moo Deng’s rise has been based on a series of milestones, from its first token launch to viral campaigns spreading on social media, fun “milk staking” activities, and steps taken in the NFT/metaverse space. Here are the most notable developments regarding MOODENG’s dynamic journey shaped by the community…First token launch and viral growth: The Moo Deng (MOODENG) token was officially launched on Solana in the fall of 2024. In the first three weeks following its launch, the token price increased by an astonishing 1400%. This tremendous growth was largely due to online FOMO (fear of missing out) and the cultural appeal of the Moo Deng hippo meme. For example, an anonymous early investor made news when he made $3.5 million in profit in a few weeks with just $800 worth of MOODENG purchases. In mid-November 2024, the MOODENG price hit a record high of $0.68. During this period, the project managed to enter the viral coins 2024 list. Early adopters began to embrace the project on social media, humorously calling themselves the “Moo Gang.”#MooForce campaign and social media impact: Around October 2024, the community launched a campaign on the X (Twitter) platform with the hashtag #MooForce. The goal was to reach as many people as possible and create a movement around MOODENG. In a short time, hundreds of humorous posts, memes, and posts began to spread with the hashtag #MooForce. Thanks to this campaign, MOODENG found its way onto Twitter’s trending page and grew its user base exponentially. The initiative created a sense of community, just like Dogecoin’s “Doge Army” or Shiba Inu’s “Shib Army.” MooForce represented the humorous “unity of forces” of the MOODENG community. The project team even organized various meme contests and rewarded the most creative Moo Deng posts. This way, funny videos, TikTok clips, and images were circulated. Especially when the news of MOODENG being listed on a major exchange by the end of 2024 was heard, the token price jumped 80% in an hour with the #MooForce movement. Some major exchanges that support Moodeng. Source: Moodengsol.com The first “milk staking” humorous farming event: In early 2025, the Moo Deng community organized a humorous yield farming event called “milk staking.” In this event, MOODENG holders earned “milking” themed rewards by locking their tokens into certain smart contracts. Of course, there was no actual milk; however, the MOODENG rewards earned were represented by milk bottle icons, making it fit the humorous theme. The milk staking event turned the concept of staking in the traditional DeFi world into a fun parody. Participants took advantage of high APR (annual yield) rates while humorously sharing their “farm” progress on social media. With this humorous farming event, the project rewarded its loyal community members while also adding a humorous innovation to the crypto world. Some users mentioned that they were “scooping the cream” of milk staking by mentioning annual yield rates exceeding 100%. During the event, hashtags such as #GotMilk and #MilkFarming also trended, searches for “MooDeng milk farming” became widespread, and MOODENG began to be mentioned as one of the creative examples among meme coin humor projects in 2025. NFT series and metaverse plans: The Moo Deng project has made preparations to step into the digital collections and metaverse space, not just limited to tokens and staking. The first NFT series was announced in mid-2025. These NFT series consisted of digital collections that immortalized Moo Deng's cute hippo character with different designs. These limited-edition NFTs were designed to offer their owners special privileges within the community. Moo Deng NFT series. Source: OpenSea For example, users who hold certain NFTs could own a special character or feature in a future game or metaverse environment. The project roadmap also included metaverse plans: Moving the Moo Deng universe to the virtual world, perhaps creating a mini metaverse called “Hippo World” was on the agenda. This idea, which is still in the development phase, aims to create a platform where the community can interact with their own mascots and bring the humorous investment experience with NFTs to the virtual environment. In short, Moo Deng has taken steps to expand its ecosystem with NFT collections and possible metaverse integrations, breaking away from its initial simple meme coin image.Why is Moo Deng Valuable?The most valuable aspect of Moo Deng stands out as the strong and devoted community behind it (the MooDeng community). This project grew with the common interest of thousands of internet users, rather than a central authority or company. Humorous sharing, viral coin campaigns and the sense of ownership of users gave MOODENG its real value. Community members were not only investors but also marketers of the project: Every day, it was possible to see a new Moo Deng joke, fan art or idea on social media. For example, on Telegram and Discord channels, users discussed upcoming memes and volunteered content for the project rather than investment strategies. This vibrant community-driven coin culture gave MOODENG constant visibility and adoption. After all, in the meme coin world, the larger and more active the community, the more likely the project is to survive and gain demand. The Moo Deng community is the backbone of the project in this respect. There have been many Moo Deng posts on X. Source: Moodengsol.com MOODENG token offers various staking and reward mechanisms to encourage long-term investors (HODLers). Users can earn passive income by locking their MOODENGs on supported platforms. For example, programs promising annual returns of over 20% have been seen on some decentralized finance platforms for MOODENG stakers. The humorous approach of the project comes into play here as well: Classic staking process is made fun by using themes such as “milk rewards” for staking users. The Moodeng staking concept encourages investors to save their tokens instead of selling them and contribute to the security of the network. In this way, both the circulating supply is balanced and long-term believers are rewarded. In decentralized exchanges such as MooSwap, which are planned to be launched in the future, it is aimed to offer additional MOODENG incentives to liquidity providers. Another aspect of the reward systems is community events: Active participants have the chance to earn extra tokens with airdrops, meme contest prizes or NFT claims organized at certain intervals. Perhaps the most unique aspect that makes Moo Deng valuable is that it combines humor with investment culture. While cryptocurrency investment is an area that requires serious risks and analysis, Moo Deng brought a new approach by softening this seriousness with humor. The project embraced absurdity by defining itself as the first “bullish cow” themed coin. It exhibits a humorous stance that will fit the trend in both bear and bull markets: It is launched as the “crypto cash cow” with its logo, a cute hippo figure reminiscent of a cow. This approach disperses the stressful investment atmosphere by giving the community the message that “we are all having fun here, if we win, great.” For example, while the MOODENG award was given to the winners in the meme competitions held in early 2025, the competition theme consisted of ironic topics such as “The funniest Moo Deng investment advice.” Thus, participants both laughed and won. This humorous investment culture created a tight bond around the project; people started to hold MOODENG not only for profit, but also to be part of the fun. As a result, the Moo Deng example shows that humor in crypto can be a powerful community-building and project-adding tool when used correctly.The Moo Deng project aims to move the initial decentralized community spirit even further and move towards a DAO (Decentralized Autonomous Organization) structure. The developers announced that they plan to give all MOODENG owners a say in project decisions with the governance model. In this context, a voting system will be established through smart contracts, and community members will be able to vote on issues such as development budget, marketing strategies or partnership agreements. DAO governance will reinforce the project's emphasis on community-focused coins, ensuring that no individual founder arbitrarily directs the project. As of 2025, MooDeng has not entered the DAO meme projects and is not fully operational.On the other hand, the fun side of the MOODENG ecosystem is enriched with NFT content. Moo Deng NFT collections, which were launched within the framework of a humorous investment approach with NFT, both visually immortalize the project mascot and offer various benefits to their owners.Who is the Founder of Moo Deng? As with many famous meme coin projects, the founder (or founders) of Moo Deng remains unknown. Since the project is officially launched as a community-initiated meme coin, no specific founder name has been announced. It seems that the development team operates under pseudonyms and prefers not to be in the spotlight. This anonymous stance actually reinforces the message that the project is “community property.” For example, just as Ryoshi, the founder of Shiba Inu, chose to remain anonymous, the creators of Moo Deng may have kept themselves in the background and wanted the community itself to be the hero of the project. In fact, the MOODENG team never brought an individual name or face to the forefront in social media announcements or press releases; instead, they constantly emphasized “Moo Gang” and “our community.” While the project team chose to keep a low profile, official statements generally focused on the roadmap and partnerships. It was specifically stated that the real hippo Moo Deng has no official ties to his keepers or the zoo, meaning the project is a completely independent community initiative.On the other hand, although it is still in its early stages, the community has already adopted the DAO culture by holding informal votes and discussions on Discord/Telegram channels. For example, the community was even asked in a poll which slogan should be used before a stock market listing in 2025. Although the founders technically started the project, the community participation is so high that it can be said that the project has become a self-governing organism. In order to encourage this, the Moo Deng team has also shared the governance smart contracts open source and solicited development suggestions from the community. In terms of technical transparency, MOODENG’s smart contract address and code have been shared with the public.The team behind the Moo Deng project is also trying to be as open and honest as possible regarding technical issues. For example, the total supply (approximately 990 million MOODENG) and smart contract details have been made public. The idea of raising funds for the audit of the smart contract has been put forward by the community; this aims to close possible gaps by conducting independent security audits. The project's official website includes a simple token economy explanation: A significant portion of the total supply is allocated to community distribution, while the rest is allocated to liquidity pools and future developments. The developer team announced that it entrusted liquidity pool keys to time-locked smart contracts as part of technical transparency. This means that liquidity is locked for a certain period of time and cannot be withdrawn. In other words, the risk of a "rug pull", where the developer suddenly withdraws liquidity and runs away, is reduced. Frequently Asked Questions (FAQ)Below are some frequently asked questions and answers about the cute Moo Deng (MOODENG) project:Is Moo Deng a real investment or just a joke?: Moo Deng is a real cryptocurrency that is listed on many major exchanges and can be traded. However, whether it is a “real investment” depends on your investment definition and risk tolerance. MOODENG is a meme coin that does not generate any underlying value and is largely based on community interest. Its value depends on the continued popularity of the Moo Deng hippo meme and the interest of market participants. Therefore, it should not be viewed as a stock or value asset in the classical sense. Having experienced astronomical value increases in a short period of time in 2024, it has offered some investors the opportunity for rapid profit; however, it also carries the risk of losing value just as quickly. What is MOODENG token used for?: The main purpose of the MOODENG token at the moment is as a community and entertainment tool. Technically, MOODENG was designed with the potential to be a governance and ecosystem token, but in practice, its most common use case is speculative trading. That is, people buy and sell MOODENG in anticipation of its price going up, just like other meme coins. Apart from that, MOODENG is planned to gain several functions as the project develops: For example, there is the possibility of earning passive income by staking (locking the token and earning rewards) and it is becoming more widespread. What is “milk staking”?: “Milk staking” is a fun name that the Moo Deng community has given to the concept of staking. As you know, staking is the process of contributing to the security of the network by locking your cryptocurrencies for a certain period of time and earning rewards in return. The Moo Deng project, on the other hand, added a humorous theme to its staking activity and equated it with the concept of “milking”. When a MOODENG holder deposits their tokens into the staking pool, the profits referred to as “interest” or “rewards” in other projects are humorously called “milk” here. So when you stake milk, you actually earn returns in MOODENG, but the community humorously describes it as “getting milk (rewards) from your tokens like milking a cow.”How does the DAO system work?: DAO, or Decentralized Autonomous Organization, is a structure whose rules are encoded in smart contracts and governed by community votes rather than human intervention. Moo Deng’s DAO system has not yet been launched. When this system is put into effect, MOODENG token holders will have voting rights proportional to the amount of tokens they hold.How can I join the community?: As a first step to joining the Moo Deng community, you can become a part of the “Moo Gang” by purchasing some MOODENG tokens. Once you have acquired the token, you have the chance to become a part of the community by participating in official and unofficial communication channels. In particular, you can follow the official account @Moodeng and community tags on Twitter (X). It is also important to follow the announcements section on the project’s website moodengsol.com – here are published roadmap updates, event announcements.In the world of Web3, one hippocan change everything. Follow our JR Kripto Guide series for more about MOODENG, where humor and investment meet!
A First in the US: Solana Stake ETF Begins Trading This Week
A new milestone is being reached in the cryptocurrency market. According to a report by Bloomberg citing anonymous sources, the first exchange-traded fund (ETF) providing Solana (SOL) staking returns, developed by REX Shares and Osprey Funds, will begin trading in the US on Wednesday, July 2. Listed under the ticker symbol “SSK,” this ETF offers investors the opportunity to generate income not only from Solana price movements but also from block rewards earned through staking. In this regard, the fund holds the title of the first stakable cryptocurrency ETF in the U.S.Overcoming legal hurdles: The C-Corp structureThis product was designed with a different legal structure to bypass SEC approval processes. Unlike traditional ETFs, REX-Osprey ETFs are structured as taxable C-corporations (C-Corps). Under this model, staking rewards are taxed within the fund before being distributed to investors and then reflected as dividends. This structure reduces the risk of the fund not being recognized as an investment company by the SEC, thereby paving the way for market entry.The SEC had previously issued warnings that REX and Osprey's ETF did not comply with legal requirements. However, the fund's commitment to invest at least 40% of its assets in other Solana-based ETFs and ETPs outside the US enabled these concerns to be overcome. According to sources speaking to Bloomberg, the fund has officially received approval to launch.Strahinja Savic, data analytics director at FRNT Financial, noted that this development is a sign of the deepening integration between traditional capital markets and the crypto economy. Savic noted that the SEC's more lenient stance toward crypto since the Trump administration took office has made it easier for such products to enter the market. “Crypto is no longer a pariah asset class; it is becoming an integrated part of public markets,” he said.The SSK ETF offers a different alternative to existing Solana-based products in the market. Previously listed Volatility Shares Solana ETF (SOLZ) and its leveraged version SOLT focused solely on futures contracts. However, the new ETF stands out as a more attractive option for investors seeking direct access to staking income.Impact on prices remained limitedIn response to the news, the Solana price rose by 5% within minutes, climbing from $150 to $158. However, this increase was not sustained, and the price quickly dropped back to $152. Solana, which has gained 7% in value over the past week, has declined by approximately 50% since reaching its peak at the beginning of the year amid the meme coin craze. It also fell below the $170 peak reached at the beginning of June. This development has sparked excitement regarding crypto ETF launches in the US. So far, only Bitcoin and Ethereum ETFs have been approved. The approval granted to REX-Osprey is expected to pave the way for similar products, such as an Ethereum staking ETF, in the coming period.
National Cryptocurrency Reserve Being Established in Kazakhstan
Kazakhstan has announced a new step to increase its influence in the cryptocurrency field. According to a statement by Timur Suleimenov, Governor of the National Bank of Kazakhstan, cryptocurrencies seized in the country and coins obtained from state-supported mining activities will be collected in a national reserve managed by an institution affiliated with the National Bank.A reserve will be created for cryptocurrencies in KazakhstanTimur Suleimenov, Governor of the National Bank of Kazakhstan, has announced a new plan that will take the country's approach to cryptocurrencies one step further. According to the plan, cryptocurrencies seized by the state and those obtained from public mining operations will be collected in a “national cryptocurrency reserve” managed by an institution affiliated with the Central Bank.This development could increase Kazakhstan's influence in the cryptocurrency ecosystem. The country already stands out for accounting for approximately 13% of the global Bitcoin (BTC) mining hash rate. Following an energy crisis in 2022, the state carried out a major operation against illegal mining activities and seized equipment worth approximately $200 million.According to Suleimenov, this new reserve structure will be established in a manner similar to a sovereign wealth fund model. The system, which will be managed through a single governing body, will prioritize transparency, oversight, and secure storage standards. The Central Bank governor stated, “In the face of volatile market conditions and potential cyber threats, a centralized structure will be the most viable solution.”Details of the plan are being worked out by relevant ministries and law enforcement agencies. However, no date has yet been given for when the reserve will be launched or how large it will be.BTC reserves are growingThis move puts Kazakhstan among the countries that have created state-level cryptocurrency reserves. While the idea of a “Strategic Reserve” for Bitcoin is on the agenda in the US, states such as Arizona, Ohio, and Texas have already legalized holding BTC. Meanwhile, in the private sector, companies like MicroStrategy, Metaplanet, and GameStop have begun creating new-generation corporate treasuries by including cryptocurrencies in their balance sheets. In fact, this morning we reported that Metaplanet had added another 1,005 BTC to its treasury.Cryptocurrency experts note that Kazakhstan's move could directly impact global Bitcoin demand. In particular, governments adopting such reserve strategies contributes to the growing acceptance of cryptocurrencies as “new-generation reserve assets.” As of June 30, 2025, Bitcoin's market value reached $2.14 trillion, with a 28.6% increase in value over the past 90 days. This momentum is believed to be driven by institutional purchases, particularly from governments and large institutions.
What is Stellar (XLM)?
As cryptocurrencies evolve beyond mere investment vehicles to become structures that trigger the transformation of the global financial system, one of the projects at the center of this revolution is Stellar. Aiming to open the doors of financial inclusion for millions of people without access to banking infrastructure, Stellar uses blockchain technology not only as a technological innovation but also as a social solution. This system, which focuses on low cost, speed, and accessibility in cross-border money transfers, offers a sustainable and inclusive digital economy vision for both individuals and institutions. So, what is Stellar (XLM), how does it work, and what innovations does it bring to the field? Let's take a closer look together.Definition and Origin of StellarThe question “What is Stellar (XLM) coin?” is a topic of interest for many people entering the world of digital finance. Simply put, Stellar is an open-source cross-border payment network protocol. In other words, it is a digital network that enables fast, reliable, and especially low-cost transactions between different currencies. It aims to create a more accessible and efficient system for individuals and institutions by combining traditional financial systems (such as banks and payment networks) with blockchain technology.Stellar was launched in 2014 by Jed McCaleb, one of the founders of Ripple, alongside Joyce Kim. Behind this project is the Stellar Development Foundation (SDF), a non-profit organization. The SDF's primary mission is to increase financial inclusion. In line with this, it is creating more equal access to the global financial system. The Stellar network focuses particularly on developing economies, microfinance solutions, and cross-border money transfers to achieve this goal.The network's native cryptocurrency is Lumens, known by the abbreviation XLM. The answer to the question “What is the XLM coin?” is as follows: XLM is a utility token used to facilitate transactions on the Stellar network and protect the network from spam. It is also used for purposes such as ensuring accounts on the network maintain a certain minimum balance and paying “rent” for smart contract data. In short, the Stellar XLM coin pair is seen as the heart of the digital infrastructure that enables these fast and inexpensive transfers.So, if you ask what the Stellar network is and what its purpose is, its purpose is to leverage blockchain to create a more accessible system that allows everyone, regardless of where they live, to participate in a stable global financial network. So, what is Stellar network? Stellar was designed for the exchange of money or tokens in line with this accessibility goal. It is an open-source protocol that uses the Stellar Consensus Protocol (SCP). Basic concepts of the Stellar network. Source: Stellar.org Stellar’s History: Major MilestonesThe answer to the question of when XLM was launched dates back to the beginning of the Stellar network. The Stellar project and its native currency (originally known as “stellars”) were officially launched on July 31, 2014. Initially, the non-profit Stellar Development Foundation (SDF) was created in collaboration with Jed McCaleb, Joyce Kim, and Stripe CEO Patrick Collison, and the project received $3 million in seed funding from Stripe. When the network launched, there were 100 billion stellars, 25% of which would be given to other non-profit organizations working in the field of financial inclusion. Stripe received 2% of the initial Stellar, or 2 billion, in return for the initial investment. The cryptocurrency was originally known as Stellar, but was later called Lumens or XLM. This is a milestone in the history of XLM coin.Throughout its history, Stellar has taken significant steps to develop its technology and ecosystem:2014: Stellar is founded. It was launched in July 2014 by Jed McCaleb, David Mazières, and Joyce Kim with the aim of creating "a decentralized protocol for sending and receiving money in any currency pair." Before founding Stellar, McCaleb was the co-founder of Ripple, a payment network for cross-border payments. In July 2013, McCaleb left Ripple due to reported disagreements with his fellow founders. In a blog post titled "Introduction to Stellar" published on July 31, 2014, Stellar announced that Stellar would be developed by the non-profit Stellar Development Foundation (SDF) and would control the entire initial token supply (105.00 billion XLM). 100 billion Stellar (now known as XLM) had been created when the network launched. In August 2014, the first Brazilian Bitcoin exchange, Mercado Bitcoin, announced that it would be using the Stellar network. However, in December 2014, the network was inadvertently forked due to the nodes not being able to reach consensus.2015: Stellar released an upgraded protocol with a new consensus algorithm, the Stellar Consensus Protocol (SCP), created by David Mazières. The protocol with this new algorithm went live in November 2015. The implementation of SCP is one of the key features that differentiate Stellar from mining-based Proof-of-Work (PoW) or other systems like Bitcoin. During this period, Stellar was announced to be integrated with the Praekelt Foundation's open-source messaging platform Vumi in South Africa, and Vumi would use mobile phone airtime as currency using the Stellar protocol. It also partnered with Oradian to support microfinance institutions.2016: Deloitte announced its integration with Stellar to create the cross-border payments application Deloitte Digital Bank. In December 2016, it was announced that Stellar’s payment network had expanded to include mobile payments startup Coins.ph in the Philippines, ICICI Bank in India, African mobile payments firm Flutterwave, and French remittance company Tempo Money Transfer.2017: Stellar’s commercial arm, Lightyear.io, launched in May 2017. In October 2017, Stellar partnered with IBM and KlickEx to facilitate cross-border transactions in the South Pacific region. The cross-border payments system, developed by IBM, included partnerships with banks in the region. This IBM-Stellar partnership was a significant step in showing how serious Stellar was in the enterprise space. In December 2017, Stellar announced a partnership with Nigeria-based remittance platform SureRemit.2018: Stellar signed a deal with TransferTo to facilitate cross-border payments to over 70 countries. It also became the first distributed technology ledger to receive Sharia-compliant certification for payments and asset tokenization, and was selected as a partner by IBM for its dual-backed stablecoin project. In September 2018, Lightyear Corporation acquired Chain, Inc., and the combined company was named Interstellar. 2019: Stellar ended its 1% annual inflation mechanism via a validator vote on October 28, 2019. Then, on November 4, 2019, SDF announced that it was reducing its Lumen holdings by burning (sending to unreachable addresses) a total of 55,442,095,285.7418 Lumens, reducing the total supply to approximately 50 billion. While this move caused a short-term price increase, the rally quickly fizzled out. XLM price chart since launch 2020-2024 and beyond: In October 2020, SDF announced USDC support, which entered the market in February 2021. In January 2021, the Ukrainian Ministry of Digital Transformation announced a collaboration and partnership with Stellar to develop Ukraine's digital infrastructure. This was a significant development demonstrating Stellar's role in digital currency projects. In 2021, Franklin Templeton launched the first tokenized US investment fund using Stellar. In June and July 2021, Protocol 17 (the ability for asset issuers to revoke assets for regulatory compliance) and Protocol 18 (Automated Market Makers - AMMs) were implemented, respectively. In March 2022, Starbridge, a bridge protocol between Stellar and Ethereum, was announced. In June 2022, Protocol 19, which introduced off-chain payment channels, was implemented. In October 2022, the Stellar Anchor Platform, which will help financial intermediaries provide services on Stellar, was announced. In 2023, beta testing of the Soroban smart contract platform began, and it was fully deployed in early 2024. This opened the door for developers to create new DeFi and NFT applications. In September 2023, Circle's euro stablecoin, EURC, was launched on Stellar. In October 2024, Stellar announced partnerships with Mastercard and Paxos.Why is Stellar valuable?With so many blockchain projects on the market, what makes Stellar valuable? Stellar's unique features that set it apart and add value to the network are as follows:Fast and low-cost transfersStellar's core promise is fast and low-cost transfers. The network can process cross-border payments extremely quickly (almost instantly, typically under 6 seconds) and at an incredibly low cost. Transaction costs are typically less than 1 cent for 10,000 transactions. The average transaction cost is around $0.0009437. This is a significant advantage, especially in situations where traditional wire transfer methods are slow and expensive. In the cross-border money transfer space, Stellar stands out for its speed and low cost.Focus on financial inclusion in developing countriesIn line with the SDF's mission, Stellar aims to provide access to financial services for those who are excluded from or underserved by banking services. It offers microfinance solutions for developing countries. Through projects like Stellar Aid Assist, it enables aid organizations (such as UNHCR and IRC) to deliver cash assistance directly to those in need in a fast, transparent, and low-cost manner. In this system, recipients do not need a bank account; a mobile phone is sufficient. Aid can be sent to digital wallets as stablecoins (such as digital dollars), which protects against the devaluation of local currencies. Additionally, with over 450,000 cash-to-crypto on-ramps worldwide, people can convert digital assets into cash or vice versa. Partnerships with companies like MoneyGram further enhance this accessibility.Open-source structure and a strong communityStellar is an open-source blockchain protocol, and its codebase is hosted on GitHub. This allows anyone to review, develop, and build upon the network. Through programs like the Stellar Community Fund (SCF), it provides financial support to developers and startups building on the network. Sometimes, it even offers rewards of up to 100,000 XLM.Strong partnershipsA key factor driving Stellar's value is its strong corporate partnerships (IBM, MoneyGram) and collaborations with other organizations. As mentioned earlier, IBM, MoneyGram, Deloitte, TransferTo, Mastercard, Paxos, as well as financial giants like Franklin Templeton choosing Stellar for tokenized funds, institutions like WisdomTree using Stellar for asset tokenization, and aid organizations like UNHCR and IRC relying on Stellar for humanitarian aid distribution, highlight the network's real-world applications.Efficiency and scalabilityThe Stellar Consensus Protocol (SCP) is a consensus mechanism that uses significantly less energy compared to PoW systems like Bitcoin. At this point, validators on the Stellar network play a crucial role in achieving consensus. SCP is structured as a model called Federated Byzantine Agreement (FBA). According to a study, the carbon footprint of the Stellar network is equivalent to the greenhouse gas emissions from the annual electricity consumption of 33.7 US households. Stellar's official website includes a study on the energy consumption of homes in the United States and the Stellar network. The network is scalable. It can process up to 1,000 transactions per ledger and has successfully processed tens of billions of transactions since 2015. The Soroban smart contract platform, in particular, was designed with performance and scalability in mind, with features such as multi-core scaling. Validator classification in Stellar. Source: Stellar.org Asset tokenizationStellar is presented as an ideal platform for converting (tokenizing) real-world assets (stablecoins, securities, funds, etc.) into digital assets. The network facilitates regulatory compliance by offering issuers built-in features such as KYC requirements, multi-signature checks, and asset validation, cancellation, and freezing. The presence of trusted stablecoins such as USDC and EURC on Stellar enables stable value transfer. Tools such as the Stellar Asset Sandbox allow users to explore the asset issuance process without coding knowledge.DeFi and smart contracts (Soroban)Stellar supports the development of decentralized finance (DeFi) applications with a Rust-based, developer-friendly smart contract platform called Soroban. Designed for scalability and usability, Soroban provides the tools (SDKs, CLI, RPC server, sandbox) for developers to get started quickly. This enables the creation of a variety of DeFi applications on the Stellar network, such as lending, borrowing, and staking protocols, wallet integrations, bridges between different blockchains, and oracle (data feed) services. SCF also provides support for projects building on Soroban.Cross-currency transactions and DEXStellar can facilitate transactions between any currency pair directly or using XLM as a “bridge currency.” The network allows users to send payments in a specific currency, even if they hold different currencies, and automatically converts the amount of currency (forex conversion). There is also a built-in Stellar DEX (Decentralized Exchange) that facilitates peer-to-peer trading between various currencies and tokens issued on the network.Anchor, Ramps, and the “validator” systemAnchors are trusted institutions that connect the Stellar network to traditional banking systems. They provide “on-ramp” and “off-ramp” services, where fiat currencies (like USD, EUR) can be converted into their digital counterparts (stablecoins) on the network and vice versa. Stellar Ramps is a set of open standards that allow applications to connect to this global anchor network with a single integration standard. This system gives users access to cash deposit and withdrawal points worldwide. Stellar's Anchor structure. Source: Cointelegraph Finally, validators on the Stellar network play an important role in reaching consensus on the network. When these features come together, it becomes clear that Stellar is not just a technically advanced blockchain, but a collaborative and mission-oriented project that aims to increase access and efficiency in financial services in the real world. The answer to the question of what XLM does is also hidden in these points: XLM is a basic token that enables the functioning of this ecosystem, reduces transaction costs and bridges different assets.Who is the Founder of Stellar?The clear answer to the question of who is the founder of Stellar is Jed McCaleb, one of the well-known names in the cryptocurrency and blockchain world. So, who is Jed McCaleb? He is an entrepreneur who has previously undertaken important projects in the field of internet and technology. McCaleb was the founder of Mt. Gox, which previously became one of the largest Bitcoin exchanges in the world but was later closed down due to a major hack. He is also the co-founder of Ripple, another popular blockchain project operating in the field of cross-border payments. However, McCaleb left Ripple in July 2013 due to reported disagreements. His vision after leaving Ripple was to create Stellar, something he thought PayPal had failed to do. His plan was to create a new network focused on cross-border money transfers, aiming to make the global financial system more accessible and affordable for everyone. He initially called the project the "Secret Bitcoin Project" and sought alpha testers. Jed McCaleb was joined by former attorney Joyce Kim in the founding of Stellar. Jed McCaleb. The main force behind the project and the source of the development team is the Stellar Development Foundation (SDF). The role and governance of the SDF includes advancing the growth, development and mission of the network. As a non-profit organization, the SDF sets the strategic direction of the network in collaboration with ecosystem participants, provides funding to developers building on the network (through the SCF), and works to shape the future of the technology through partnerships and dialogue with public/private stakeholders. The current CEO and Executive Director of the SDF is Denelle Dixon.Frequently Asked Questions (FAQ)There are many questions about the Stellar network and the XLM token, especially for those new to blockchain technology or users interested in cross-border payment solutions. In this section, we will provide short and clear answers to the most frequently asked questions about Stellar.What is Stellar, why was it founded, what does it do?: Stellar is an open-source blockchain network that makes cross-border money transfers fast, low-cost and accessible. It aims to provide financial services to the unbanked.What is XLM coin, how does it work?: XLM (Lumens) is the native token of the Stellar network. It is used to pay transaction fees, facilitate value transfers between accounts, and prevent spam transactions.Who founded Stellar and why did they leave Ripple?: Stellar was founded in 2014 by Ripple co-founders Jed McCaleb and Joyce Kim. McCaleb left Ripple because he thought it was decentralized and wanted to establish a more open and accessible system.What problems does Stellar aim to solve?: Stellar aims to solve slow and expensive cross-border money transfers, the problems of individuals without access to financial services, and the intermediary dependency in traditional systems.Is Stellar secure and scalable?: Yes. Stellar works with the Stellar Consensus Protocol (SCP), which offers energy-efficient and fast transaction confirmations. The network can process thousands of transactions per second and has a low carbon footprint.To continue exploring the Stellar network and the role of the XLM token in financial transformation, check out the JR Kripto Guide series.
What is VaderAI by Virtuals (VADER)?
The world of Web3 and artificial intelligence is developing at an incredible pace. With new projects emerging every day, the scene is quite colorful. You could think of VaderAI as standing right at this crossroads. The goal of this new AI-powered crypto platform is to change the rules of the game for both traders and investors. In other words, it aims to act as a sort of asset manager, analyzing market trends, managing crypto assets, and automating transactions with smart AI agents. Some even position VaderAI as the “BlackRock of the AI Agent Economy.” An AI agent is an advanced computer program that can make decisions and perform a series of tasks autonomously.If you ask what VaderAI is, at its core, it is a decentralized platform developed by Virtuals. It focuses on developing autonomous AI agents, meaning systems that can operate independently with minimal human intervention. These agents can perform various tasks such as interacting on social media, managing investments, and even creating content.The platform integrates blockchain technology for transparent and secure transactions. It also uses its own native token, the VADER token, to perform various functions within this ecosystem, such as staking tokens or participating in investment DAOs. One of the most important aspects of this project is that it is built on a Web3 AI infrastructure. VaderAI aims to create a decentralized ecosystem where users can benefit from AI-powered services by combining AI capabilities with blockchain technology. In other words, the VADER token, like the Virtuals platform's native currency, enables participation in this growing network of AI-powered services. Let's take a closer look at this new and prominent cryptocurrency in the AI field...VaderAI’s Definition and OriginLet’s delve deeper into what VaderAI is. VaderAI by Virtuals is a highly innovative project that combines artificial intelligence (AI) with the trading processes of the cryptocurrency world. This project, launched by Virtuals, aims to revolutionize the crypto world by offering AI-powered trading solutions. In other words, according to their own statements, it is a project focused not just on speculative tokens but on practical applications. It provides traders with AI-powered tools to make informed decisions in the volatile crypto market.At the core of this system is AI integration. VaderAI leverages the power of machine learning algorithms to analyze large amounts of market data, provide predictions and insights, and assist traders in their decision-making processes. This AI-driven approach aims to give traders an edge in the fast-paced crypto market.Additionally, VaderAI is described as an autonomous AI agent. This agent is designed to interact with users and create content on social media platforms. It aims to identify emerging trends and crowd sentiment by absorbing and analyzing large amounts of data. Most importantly, it aspires to become a leading proxy investment DAO manager. This autonomous agent represents a significant step forward in AI-driven cryptocurrency projects.At the core of the platform is the creation of AI agents. These agents are built using advanced machine learning algorithms and are designed to analyze market trends, execute trades, and autonomously optimize investment strategies. Users can utilize the Agent Creation Kit to develop AI agents tailored to their specific investment goals.These agents then move on to the Decentralized Autonomous Organization (DAO) Creation phase. The platform supports two types of DAOs: Passive DAOs (focused on algorithmic investment strategies) and Active DAOs (created by AI agents or human participants with different lifespans and investment approaches). These DAOs form the backbone of VaderAI's decentralized decision-making process.At the heart of this system, of course, is the use of the Vader token. The VADER token plays a crucial role in the ecosystem, supporting staking, governance, and AI-driven financial activities. It facilitates decentralized decision-making and investment strategies. It is built on Coinbase's Base blockchain for security and scalability. It is also available on Solana. Thus, the AI-supported token has been on the market since 2024.Vader by Virtuals is a Virtuals AI project. The Virtuals Protocol is a platform that enables users to easily create and deploy autonomous AI agents. VaderAI is one of the AI agent-focused solutions that utilize the Virtuals Protocol. It is supported by the Virtuals ecosystem and has a strategic partnership with it. Source: VaderAI.Gitbook These agents analyze market data and execute transactions without human intervention. They constantly learn and adapt their strategies according to market conditions. Transactions are transparent and secure on the Base blockchain. VADER token holders can participate in governance and vote on important decisions that shape the future of the platform. This decentralized approach ensures community-driven development and verification of network transactions.VaderAI’s use cases are also quite diverse. For example, customizing AI agents for players, interacting with AI-powered characters in virtual social environments, using AI agents for investment decisions, using AI agents in DAO management tasks, and even creating a marketplace where AI creators can sell their works; are some of the options. In other words, beyond being just an AI-powered token project, web3 offers various use cases for AI infrastructure.VaderAI History: Major MilestonesAlthough we cannot go into the “dusty pages of history” since the project is quite new, let’s touch on the emergence of this project and some important moments it has experienced:VADER launchThe VADER token was launched in November 2024. The first transaction date is November 18, 2024. Before establishing a strategic partnership with the Virtuals protocol, VaderAI was using a different pre-sale infrastructure. The Vader team worked with Agent development teams through this structure and provided early access to certain projects. However, after the partnership with the Virtuals protocol in 2024, this old system was completely retired and replaced by Initial Agent Offering (IAO), which offers a new generation pre-sale experience.IAO is a pre-sale platform built on the Virtuals data flow infrastructure and developed by VaderAI in partnership with Virtuals. Here, Agent creators are encouraged to fund a liquidity pool and engage with the community of Vader tokens stakers before launching an Agent. The IAO model supports project teams in many areas, not just fundraising, but also token economics consulting, GTM (go-to-market) strategies, and pre-launch and post-launch marketing support.One of the most striking aspects of the platform is that it continues to be curated. Only the most talented AI Agent development teams are accepted, and the evaluation process is carried out jointly by both the Vader team and the VaderAI Agent. In this way, the platform aims to focus on high-quality projects.In the new system, Vader token stakers continue to earn “Virgen Points.” These points provide the opportunity to receive allocations for future pre-sales on Virtuals’ launch platform. In other words, IAO is not just a pre-sale tool, but also a system that rewards the community and creates opportunities based on participation.What’s next?The team is currently preparing the next stage of VaderAI. In this new system, Vader token stakers continue to earn Virgen Points. These points also give them access to future pre-sale deals on Virtuals’ new launchpad. This is a major milestone in the evolution of the project. Instead of their own platform, they now use Virtuals’ infrastructure to access new projects. For example, the Virtuals protocol creates a new economic model where AI agents are community-owned entities. These agents can talk, move, learn, plan, and make decisions in 3D space. They can interact with the environment and even make on-chain transactions using their own wallets. These virtual agents can bring unlimited content to games or applications. Players can interact with the agents in a human-like way. Different actions can trigger a whole new chain reaction, and each player can experience their own unique storyline. Powered by the GAME framework, these agents have synchronized memory and consciousness. They can interact with millions of players simultaneously, remembering every player’s interaction in every game.Why is VADER Valuable?Let's come to one of the most critical points: What is Vader token and what does it benefit us, why is it valuable? If you ask what Vader coin is useful for, this token has more than one task. First of all, it is the local currency of the Virtuals platform. It is used to pay for services and transactions in this ecosystem. So the use of Vader token starts here. But it does not end with just making payments. VADER token holders can participate in decision-making processes regarding the development and updates of the platform. In other words, you have a say in the future of the platform. This supports a community-oriented and decentralized structure.VADER token provides access to special AI-supported analysis tools and tools. As we mentioned before, VaderAI analyzes market data and offers predictions. To access these tools, it is necessary to be a VADER owner. Users who contribute to the growth of the platform or participate in various activities can earn Vader tokens. This is a mechanism that encourages the community.Of course, like any cryptocurrency, VADER can be bought and sold on various exchanges. In other words, you can also benefit from its value by buying and selling the Vader by Virtuals token. VaderAI is traded on both CEXs (Centralized Exchanges) and DEXs (Decentralized Exchanges). For example, Uniswap (via the Base network) and Raydium (via Solana) can be bought and sold. We can interpret this as follows: It is a token with liquidity. VADER can even be bought and sold through automated trading bots such as Cryptohopper.One of the most important areas of use for VADER and one of the factors that increases its value is staking. By staking VADER tokens, you can earn additional rewards and access special opportunities. However, staking is a bit more detailed. In the old IAO-era system (this system has now been moved to Virtuals' new launchpad, but the mechanism still seems to be valid for VADER stakers), staking determines its tiers, or levels.These tiers also determine early access eligibility and maximum allocation per wallet. There were two ways to enter the tiers: staking Vader tokens or earning a WL (White List). The vast majority of the capacity offered is allocated to $VADER stakers. These tiers also determine early access eligibility and maximum allocation per wallet. There were two ways to enter the tiers: staking Vader tokens or earning a WL (White List). The vast majority of the capacity offered is allocated to $VADER stakers. VaderAI's staking calculation table. Source: Vaderai.gitbook There are 7 different tiers. Your score in these tiers depends on three things: the amount of VADER staked, the staking commitment period, and post-IAO hodling behavior:Amount of $VADER staked: The more VADER you stake, the higher your score.Staking commitment period: You can choose from a variety of periods, such as 1 month, 3 months, 6 months, and 12 months. The longer the period, the higher your score. There are also multiples: 30 days (0.5x), 90 days (1x), 180 days (2x), 360 days (3x).Post-IAO hodling behavior: This depends on how long you hold the tokens. Projects want loyal supporters who will hold their tokens for as long as possible. Instead of methods like vesting, VaderAI rewards loyal holders and punishes those who sell immediately. This hodler score is a proprietary, ML (Machine Learning)-based score. The longer the tokens invested in IAO are held, the higher the score. This is influenced by the post-launch holding/selling behavior of former IAO participants, not the behavior of Virtuals Genesis participants.The score formula is as follows: Score = (Stake $VADER ^ 1.03) * duration multiplier * hodler multiplier. This scoring and tiering system is fundamental to Vader token usage, as higher tiers mean better access. Additionally, Vader token holders gain access to exclusive investment opportunities. By locking their tokens for three months, they gain exclusive whitelist access to VaderAI’s first investment DAO plan, the ‘Agent Coin Investment DAO’. For every 10,000 staked VADER, the staker can invest an additional 1 SOL into the DAO. This makes staking VADER even more attractive.To understand the value of VADER, it is also necessary to understand the economics of Virtuals Protocol’s AI agent tokens. The Virtuals protocol enables decentralized shared ownership of AI agents, turning them into revenue-generating assets owned by the community. When a new AI agent is created, tokens specific to that agent are minted and added to the liquidity pool to create a market for its ownership. Anyone who believes in the potential of AI agents can purchase these tokens as governance tokens and participate in key decisions regarding agent development, behavior, and upgrades. Some AI agent tokens in the Virtuals Protocol. Source: Virtuals In this ecosystem, the value flow works like this: Users (e.g. fans interacting with a Taylor Swift AI agent) pay for a variety of services, such as concerts, merchandise, livestreams, and personalized interactions. This revenue goes to app developers, who monetize their AI agents like a standard consumer app. Developers use a portion of this revenue to cover the computational costs of the AI agent. A portion of the agent’s revenue is deposited into its on-chain treasury, which funds the agent’s future development and operational costs. As revenue accumulates in the on-chain treasury, a mechanism triggers a periodic buyback of agent tokens (e.g. the SWIFT token). These tokens are then destroyed (burned), reducing the supply and increasing the price of the remaining tokens, increasing the agent’s overall market value. The agent’s tokens are paired with VIRTUAL tokens in a liquidity pool. This ties the agent’s success directly to the value of the VIRTUAL tokens. As the agent earns more income and their tokens are burned, the value of the agent's tokens and the underlying VIRTUAL tokens will increase.As a result, if you ask what the Vader token is and why it is valuable: First of all, it is used everywhere from payment to governance in the internal workings of the platform. It offers the opportunity to earn passive income by staking and, most importantly, to provide early and more advantageous access to new AI agent projects. In addition, it has the potential to increase in value with the growth of the Virtuals ecosystem and the AI agent economy. In other words, it is not just a token, it is like a gateway to this new generation AI-powered Web3 world.Who is the Founder of VaderAI?VaderAI is a project developed by the Virtuals team. It is stated that the evaluation process of the previous IAO platform was jointly managed by the Vader team and the VaderAI Agent. This shows that there is a "Vader team" at the core of the project, but we can say that this team consists of those who contributed to the Virtuals Protocol.VaderAI's core team consists of a multi-disciplinary team of artificial intelligence researchers, engineers, entrepreneurs with a consulting background, and crypto experts. Team members; graduated from prestigious schools such as Imperial College London, Cambridge, LSE, Georgia Tech and INSEAD and have worked in large corporate structures such as McKinsey, BCG, Bain, Alibaba, Bybit in their past. This team, which has deep expertise in AI, biotechnology, data engineering, product management and Web3 infrastructures, also includes investors and developers who have been active in the crypto world since the early days.One of the things that stands out in the structure of the project is its decentralized and community-supported structure. VaderAI encourages community participation. VADER token holders can influence decisions by participating in governance processes. DAOs form the backbone of the platform’s decentralized decision-making process. This structure means that the project can continuously evolve with the contribution of the community, without relying solely on a group of founders. So yes, there is a team as developers (the Virtuals team), but the community also plays a big role in the operation and future of the platform.Frequently Asked Questions (FAQ)Below, we have compiled some frequently asked questions and answers about VaderAI.What is VaderAI and how does it work?: VaderAI is a platform that combines artificial intelligence (AI) and Web3 technologies. It allows users to create AI agents, tokenize these agents, and use them in various applications. These agents can be integrated across different platforms, such as games, social media, and virtual environments, and they learn and evolve through user interactions.What does the VADER token do?: VADER is the native token of the VaderAI ecosystem. This token is used in the creation, ownership, and management of AI agents. It also serves as a means of payment for intra-platform transactions and provides governance rights to community members.How do AI and Web3 combine?: The combination of AI and Web3 enables the creation of decentralized AI services. Thanks to this integration, users can create AI agents, own them by tokenizing them, and use them on various platforms. In addition, thanks to blockchain technology, the decision-making processes of AI agents become transparent and traceable.How does it relate to the Virtuals infrastructure?: The Virtuals Protocol is the underlying infrastructure of VaderAI. This protocol allows users to create AI agents, tokenize them, and integrate them on various platforms. In addition, Virtuals provides an ecosystem that allows AI agents to work together and generate revenue.How does the community contribute to AI education?: VaderAI encourages community members to contribute to the education and development of AI agents. Users contribute to the learning processes of AI agents by providing feedback or providing data. This participation supports AI agents to become more effective and user-centric.Continue following our JR Kripto Guide series to discover the power of AI in Web3 and personalized digital experience with the VADER token!
FET Comments and Price Analysis 30 June 2025
FET Technical AnalysisLooking at the FET chart on a daily frame, we clearly see that there is a properly working descending channel since the beginning of 2024. Falling Channel Structure An important support area is $0.65 - $0.70, and the price is trading in the middle border of this descending channel. FET, having previously received an upward reaction from this region, is currently trading in the same area. If the price closes daily below the important level of $0.65, it can first pull back to the level of $0.53 and later to the channel trend support level of nearly $0.33.In order to talk about the level of $0.87, we need to see price closings above the level of $0.70 in terms of upward movements. Above this level, $0.87, we have the trend resistance level of $1.00 which is the target. Technically, it is highly possible that the price will break above the trend after the next test to it.These analyses, not offering any kind of investment advice, focus on support and resistance levels considered to offer trading opportunities in the short and medium term according to the market conditions. However, the user is responsible for their own actions and risk management. Moreover, it is highly recommended to use stop loss (SL) during the transactions.
PNUT Comments and Price Analysis 30 June 2025
PNUT Technical AnalysisAs mentioned in our previous analysis, the falling wedge formation has been broken upwards. We should be following the strong support area of $0.219 - $0.23 after the breakout. The price could reach and test the wedge targets as long as it stays above this strong support zone. The main target of the formation is the price level of $0.36. Other important targets are the resistance levels of $0.266 and the $0.307 - $0.323 area respectively. However, if the price drops below $0.219, it will re-enter the wedge and then the targets will be considered invalid. In short, the price is at a very critical level. Falling Wedge Fracture These analyses, not offering any kind of investment advice, focus on support and resistance levels considered to offer trading opportunities in the short and medium term according to the market conditions. However, the user is responsible for their own actions and risk management. Moreover, it is highly recommended to use stop loss (SL) during the transactions.
