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During a panel moderated by Cointelegraph editor-in-chief Kristina Lucrezia Cornèr at Swiss Web3 Fest, industry experts provided insights into how tokenization is enabling solutions never seen before. The Boston Consulting Group estimates the token ization of real-world asset s could become a $16 trillion industry in the coming years. Its impact, however, goes well beyond financial figures, and can help people in developing countries to find new ways to deal with real-world problems. During a panel moderated by Cointelegraph's editor-in-chief Kristina Lucrezia Cornèr at Swiss Web3 Fest, industry experts provided insights into how tokenization can be applied to real-world assets, and how it is enabling solutions never seen before. "Our farmers, in Kenya, receive their payouts days after the harvesting season ends. If they have less yield than expected, then they receive a payout immediately. In the traditional insurance space, they need to wait six months. And that can mean th...

Twenty-seven percent of the funds stolen in the July 30 exploit have yet to be returned. Binance Labs, the venture arm of cryptocurrency exchange Binance, has invested $5 million in Curve (CRV), the namesake token of the decentralized stablecoin trading platform. “Curve is the largest stableswap and second-largest DEX [decentralized exchange], with approximately $2.4B in total value locked and $215M in daily volume at the time of writing," Binance Labs said in the Aug. 10 announcement. Yi He, Binance’s co-founder and head of Binance Labs, said the firm is pledging its full support to the DEX “given recent events that have impacted the protocol."  The firm says in exchange for the investment, Curve will deploy to BNB Smart Chain. The protocol currently operates on multiple chains, having been originally based on Ethereum, and serves as one of decentralized finance's (DeFi's) biggest market makers with several hundred pools in use. On July 30, Curve was drained of $7...

Blockchain security firm PeckShield has detected multiple fake Worldcoin token s amid the recent launch of OpenAI CEO’s cryptocurrency.  PeckShield identified two fake Worldcoin tokens circulating on the Ethereum network. The first demonstrated a staggering 100% price drop, indicating its dubious nature. It quickly became evident that it was a rug pull, posing severe risks to unsuspecting investors. #PeckShieldAlert PeckShield has detected that a fake #Worldcoin rugged. https://t.co/TOhOpZc3Wn The fake #WorldCoin has dropped -100%. The Deployer 0x477aF2 has interacted with #SimpleSwap and #MEXC , and originally funded 161.6 $ETH from #MEXC https://t.co/4idBsxtSrm pic.twitter.com/wY8QZcyWdV — PeckShieldAlert (@PeckShieldAlert) July 24, 2023 The deployer address 0x477aF2 was involved with well-known crypto platforms SimpleSwap and MEXC. Further investigation revealed that the perpetrator had initially funded the fake Worldcoin with a substantial amount of 161.6 ETH, ori...

The proposal for MATIC’s technical upgrade is subject to approval from the Polygon community. Once approved, MATIC’s upgrade to a multipurpose token will result in its renaming to POL. Ethereum layer 2 development firm Polygon proposed upgrading its in-house MATIC (MATIC) token into a multipurpose token that can be used to validate multiple chain s. The proposal for MATIC’s technical upgrade is subject to approval from the Polygon community. Once approved, MATIC’s upgrade to a multipurpose token will result in its renaming to POL. According to the announcement shared with Cointelegraph, POL’s utility will span all the Polygon protocols, which includes Polygon PoS, zkEVM and Supernets. Sharing details about the anticipated upgrade, the announcement read: “Primarily, it enables the pool of protocol participants, i.e. actors to scale to support thousands of Polygon chains without sacrificing security.” The utility of POL revolves around validators, with the goal of aligning and i...

Liquid staking token s (LSTs) have begun to pick up momentum this month as the second half of the year edges closer toward a highly anticipated Ethereum upgrade. Dubbed Cancun-Deneb (or “Dencun” for short), the upgrade — expected sometime in the fourth quarter of this year — will see the introduction of a mechanism known as “blob-carrying transactions.” Liquid staking providers, especially Lido, have gained significant traction, underlining users’ preference for greater liquid ity and flexibility in their staking activities, blockchain analytics firm Glassnode wrote in a research note on Monday. As such, protocols and assets linked with staked ETH are delivering outsized gains when compared to other major digital assets in the market on the week. As of 5 am ET, the governance token for liquid staking solution Lido DAO (LDO), has jumped about 11% and 24% on 1-week and 2-week timeframes respectively. Frax Share (FXS) — the governance token of the Frax ecosystem responsible for ...

Several major lenders across South Korea have reportedly joined a bank consortium dedicated to security token offerings (STOs). In April, Seoul-based NongHyup established the consortium with the aim of creating an ecosystem centered around security tokens. In the context of South Korea, these are blockchain- or DLT-powered versions of traditional investments such as stocks or bonds, but could also confer share ownership or other rights in real estate, investment funds and even artwork. The Korea Herald reported Thursday that Hana Bank, Shinhan Bank and Woori Bank have now joined the NongHyup’s consortium. The group includes other fintech companies like Funble, Trackchain (a subsidiary of fintech Aton) and Artipio, bringing the total number of members to 18. Blockworks has reached out to NongKyup for comment. South Korea legalized security token offerings earlier this year, responding to the rising demand and popularity of digital assets domestically and abroad. South Korea’s F...