Mining, Staking and Deposit. What is the difference and how to make money on it.
📍Crypto mining refers to the process of gaining cryptocurrencies by solving cryptographic equations with the use of high-power computers. The solving process comprises verifying data blocks and adding transaction records to a public record (ledger) known as a blockchain. That is secured by applying complex encryption techniques.
Miners are engaged in the creation of new structures - blockchain, to ensure the operation of cryptocurrency platforms. For the creation of a new structure, a miner is remunerated through new (emitted) cryptocurrency units and/or commissions.
All blockchain participants keep the entire blockchain from the beginning, constantly adding new blocks to the end. Miners collect and process information about all transactions that are currently taking place with the cryptocurrency. If a new block in the blockchain is made according to all the rules, it is added to the end of the chain, and the miner receives a reward of 12.5 bitcoins for doing so.
It is important to understand that now crypto mining is not possible without expensive equipment, which also consumes a lot of electricity. The probability of receiving a reward is equal to the ratio of the miner's processing power to the processing power of the entire network. Nowadays, it is almost impossible to make money as solo-miner, so miners join together and create mining farms, which allow them to provide the necessary power and distribute the costs of maintenance.
📍Staking is a type of passive income from cryptocurrency. Users store coins on the Proof of Stake (PoS) algorithm and keep the blockchain running. For this they receive a reward. This feature is only available to cryptocurrencies that run on PoS, such as EOS, Tezos, TRON and Cosmos. In the future, Ethereum, the largest altcoin by capitalization, plans to switch to the PoS algorithm.
In the PoS algorithm, remote servers running the masternode software provide network operation. This can be a home computer or a laptop with a certain amount of funds. The device helps the network to work, for which its owner receives a reward.
In order to start earning, the user needs to have a wallet, refill it with coins on the PoS algorithm. Then, wait for the blocks to appear, install the client on the computer and run the wallet.
Staking does not require a lot of technical power, and therefore is a more environmentally friendly way to make money from cryptocurrencies.
📍Deposit is another way to make money from cryptocurrency that DeFi platforms offer. The user makes a deposit to the chosen platform and while the money is there makes a profit.
The main difference between deposit and staking is that the user provides liquidity to decentralized trading platforms. Such exchanges need money for traders to trade on them. Therefore, the services offer rewards to those who provide them with assets for use.
You do not need special hardware or software to make money on deposits - DeFi platform takes care of all the maintenance.
@BaksDAO
📍Crypto mining refers to the process of gaining cryptocurrencies by solving cryptographic equations with the use of high-power computers. The solving process comprises verifying data blocks and adding transaction records to a public record (ledger) known as a blockchain. That is secured by applying complex encryption techniques.
Miners are engaged in the creation of new structures - blockchain, to ensure the operation of cryptocurrency platforms. For the creation of a new structure, a miner is remunerated through new (emitted) cryptocurrency units and/or commissions.
All blockchain participants keep the entire blockchain from the beginning, constantly adding new blocks to the end. Miners collect and process information about all transactions that are currently taking place with the cryptocurrency. If a new block in the blockchain is made according to all the rules, it is added to the end of the chain, and the miner receives a reward of 12.5 bitcoins for doing so.
It is important to understand that now crypto mining is not possible without expensive equipment, which also consumes a lot of electricity. The probability of receiving a reward is equal to the ratio of the miner's processing power to the processing power of the entire network. Nowadays, it is almost impossible to make money as solo-miner, so miners join together and create mining farms, which allow them to provide the necessary power and distribute the costs of maintenance.
📍Staking is a type of passive income from cryptocurrency. Users store coins on the Proof of Stake (PoS) algorithm and keep the blockchain running. For this they receive a reward. This feature is only available to cryptocurrencies that run on PoS, such as EOS, Tezos, TRON and Cosmos. In the future, Ethereum, the largest altcoin by capitalization, plans to switch to the PoS algorithm.
In the PoS algorithm, remote servers running the masternode software provide network operation. This can be a home computer or a laptop with a certain amount of funds. The device helps the network to work, for which its owner receives a reward.
In order to start earning, the user needs to have a wallet, refill it with coins on the PoS algorithm. Then, wait for the blocks to appear, install the client on the computer and run the wallet.
Staking does not require a lot of technical power, and therefore is a more environmentally friendly way to make money from cryptocurrencies.
📍Deposit is another way to make money from cryptocurrency that DeFi platforms offer. The user makes a deposit to the chosen platform and while the money is there makes a profit.
The main difference between deposit and staking is that the user provides liquidity to decentralized trading platforms. Such exchanges need money for traders to trade on them. Therefore, the services offer rewards to those who provide them with assets for use.
You do not need special hardware or software to make money on deposits - DeFi platform takes care of all the maintenance.
@BaksDAO
Token based on the "Squid Game" series gained 3380% in 24 hours
Trading volumes of altcoin SQUID, which is based on the hit series from Netflix, increased by 60% in 24 hours and reached $5.8 million. The token grew by 3380% and its value currently stands at $6.89.
But users can't sell tokens that rose in price right now. The authors of the project created a special anti-dumping mechanism that prohibits holders from selling the token under certain conditions.
SQUID is a token of the Squid Game project. In November, the project will launch an online version of the Squid Game, consisting of 6 rounds, similar to the challenges in the series. In order to participate, users need to make a starting fee in SQUID tokens.
The winner of each round will receive 90% of the collected funds, 10% of the amount will be received by the developers of the game. In order to take part in the final game, the participant must purchase a special NFT token.
The token sale was launched on Oct. 20. According to the developers, the tokens sold out in 1 second.
@BaksDAO
Trading volumes of altcoin SQUID, which is based on the hit series from Netflix, increased by 60% in 24 hours and reached $5.8 million. The token grew by 3380% and its value currently stands at $6.89.
But users can't sell tokens that rose in price right now. The authors of the project created a special anti-dumping mechanism that prohibits holders from selling the token under certain conditions.
SQUID is a token of the Squid Game project. In November, the project will launch an online version of the Squid Game, consisting of 6 rounds, similar to the challenges in the series. In order to participate, users need to make a starting fee in SQUID tokens.
The winner of each round will receive 90% of the collected funds, 10% of the amount will be received by the developers of the game. In order to take part in the final game, the participant must purchase a special NFT token.
The token sale was launched on Oct. 20. According to the developers, the tokens sold out in 1 second.
@BaksDAO
How Mark Zuckerberg's new "Metaverse" will affect the future of cryptocurrency
On October 28, Facebook Inc. corporation, which includes the social networks Facebook, Instagram, messenger WhatsApp, and other services, announced a rebranding and name change to Meta.
According to the CEO, Mark Zuckerberg, it is necessary so that users perceive the corporation as a meta-universe. The company promises to build a virtual world for 1 billion users by 2031.
In an open letter, Mark Zuckerberg stated that Meta will support NFT and cryptocurrency.
This is not the company's first step toward cryptocurrency. Facebook in collaboration with Coinbase has already launched a pilot project of its cryptocurrency wallet called Novi. Novi aims to enable users of the social network to make international transfers in Pax tokens quickly, securely and without fees. Novi has sparked debates in the U.S. Senate, but the company has not given up on developing the project.
Analysts say that Novi will not be the only crypto project in Metaverse. Many blockchain platforms are expected to exist based on the platform, providing for the creation of decentralized autonomous organizations (DAOs), and smart contracts. And this means that these are the platforms that will grow and develop faster than others.
The rebranding of Facebook Inc. has already had an impact on the cryptocurrency market. The Metaverse token index rose 20% overnight, while MANA and SAND meta-tokens rose 100% and 35%. The NFT is not related to Meta. The tokens are used on the Decentraland platform, where users can buy virtual property, and the growth of little-known tokens is caused by a simple coincidence in the name.
@BaksDAO
On October 28, Facebook Inc. corporation, which includes the social networks Facebook, Instagram, messenger WhatsApp, and other services, announced a rebranding and name change to Meta.
According to the CEO, Mark Zuckerberg, it is necessary so that users perceive the corporation as a meta-universe. The company promises to build a virtual world for 1 billion users by 2031.
In an open letter, Mark Zuckerberg stated that Meta will support NFT and cryptocurrency.
This is not the company's first step toward cryptocurrency. Facebook in collaboration with Coinbase has already launched a pilot project of its cryptocurrency wallet called Novi. Novi aims to enable users of the social network to make international transfers in Pax tokens quickly, securely and without fees. Novi has sparked debates in the U.S. Senate, but the company has not given up on developing the project.
Analysts say that Novi will not be the only crypto project in Metaverse. Many blockchain platforms are expected to exist based on the platform, providing for the creation of decentralized autonomous organizations (DAOs), and smart contracts. And this means that these are the platforms that will grow and develop faster than others.
The rebranding of Facebook Inc. has already had an impact on the cryptocurrency market. The Metaverse token index rose 20% overnight, while MANA and SAND meta-tokens rose 100% and 35%. The NFT is not related to Meta. The tokens are used on the Decentraland platform, where users can buy virtual property, and the growth of little-known tokens is caused by a simple coincidence in the name.
@BaksDAO
Cryptocurrency based on the "Squid Game" collapses in a $3 million scam
Previously, we wrote about the SQUID token's rise. The cryptocurrency based on the "Squid Game" series attracted a large number of investors and its value soared to $2800 before its creators disappeared.
A cryptocurrency called SQUID was launched in late October and rose in value by 310,000% in just a few days. It was marketed as a way to play an upcoming online game based on a South Korean TV series.
On Monday the coin's value plummeted to $0, the project's website disappeared, and its Twitter account was blocked. According to The Guardian, the creators cashed all of the collected cryptocurrency and disappeared. The scammers may have received up to $3.38 million. Neither the cryptocurrency nor the upcoming online game had anything to do with Netflix.
This is not the first such case. In early 2021, a token based on The Mandalorean series was launched, which also turned out to be a scam.
We ask you to be more careful and cautious when choosing a project for investment.
@BaksDAO
Previously, we wrote about the SQUID token's rise. The cryptocurrency based on the "Squid Game" series attracted a large number of investors and its value soared to $2800 before its creators disappeared.
A cryptocurrency called SQUID was launched in late October and rose in value by 310,000% in just a few days. It was marketed as a way to play an upcoming online game based on a South Korean TV series.
On Monday the coin's value plummeted to $0, the project's website disappeared, and its Twitter account was blocked. According to The Guardian, the creators cashed all of the collected cryptocurrency and disappeared. The scammers may have received up to $3.38 million. Neither the cryptocurrency nor the upcoming online game had anything to do with Netflix.
This is not the first such case. In early 2021, a token based on The Mandalorean series was launched, which also turned out to be a scam.
We ask you to be more careful and cautious when choosing a project for investment.
@BaksDAO
October was the most profitable month for the crypto market
The cryptocurrency market capitalization reached $2.77 trillion and cryptocurrency trading volumes totaled $248 billion. Let's look back at the key points of the past month.
Bitcoin
On October 20, bitcoin updated its historical high at $67.000 and its capitalization reached $1.2 trillion. After reaching its highs, the cryptocurrency price went down to $57.000 and then went up again. The value of bitcoin today is $62.300.
Ethereum
On October 29, Ethereum updated its historical high at $4.375. The price of the coin increased by 11% within a day and its market capitalization reached $508 billion. The daily trading volume was $31.57 billion. After that, the altcoin price went down to $4.115, but gradually continued to grow steadily. The cryptocurrency value as of today is $4,570.
Binance Coin
Last month, the cryptocurrency exchange Binance's token in terms of trading volumes failed to surpass the maximum values set in May. However, by the end of October, the altcoin's price was up 35%. The value of BNB currently stands at $554.30.
Shiba INU
On October 29, the value of the coin reached $0.000088 for the first time. Since the beginning of the month, the meme coin has risen by 1000%. The coin surpassed Dogecoin in terms of capitalization and climbed to the ninth position in the CoinGecko top. Shiba INU was the only coin that didn't fall in value during the overall market decline, but continued to grow steadily. Shiba INU has a serious advantage over other similar coins. The creators of SHIB have developed an entire ecosystem with its own DeFi exchange, the ability to create NFTs and smart contracts.
@BaksDAO
The cryptocurrency market capitalization reached $2.77 trillion and cryptocurrency trading volumes totaled $248 billion. Let's look back at the key points of the past month.
Bitcoin
On October 20, bitcoin updated its historical high at $67.000 and its capitalization reached $1.2 trillion. After reaching its highs, the cryptocurrency price went down to $57.000 and then went up again. The value of bitcoin today is $62.300.
Ethereum
On October 29, Ethereum updated its historical high at $4.375. The price of the coin increased by 11% within a day and its market capitalization reached $508 billion. The daily trading volume was $31.57 billion. After that, the altcoin price went down to $4.115, but gradually continued to grow steadily. The cryptocurrency value as of today is $4,570.
Binance Coin
Last month, the cryptocurrency exchange Binance's token in terms of trading volumes failed to surpass the maximum values set in May. However, by the end of October, the altcoin's price was up 35%. The value of BNB currently stands at $554.30.
Shiba INU
On October 29, the value of the coin reached $0.000088 for the first time. Since the beginning of the month, the meme coin has risen by 1000%. The coin surpassed Dogecoin in terms of capitalization and climbed to the ninth position in the CoinGecko top. Shiba INU was the only coin that didn't fall in value during the overall market decline, but continued to grow steadily. Shiba INU has a serious advantage over other similar coins. The creators of SHIB have developed an entire ecosystem with its own DeFi exchange, the ability to create NFTs and smart contracts.
@BaksDAO
Amazon will start accepting payments in cryptocurrency
The marketplace has partnered with PayPal and its affiliate service Venmo, which allows users to make payments in cryptocurrency.
The service is scheduled to launch in 2022. For now, only U.S. residents have the ability to pay with cryptocurrency on Amazon.
Venmo launched support for the cryptocurrency in April 2021. Users of the payment system can buy, sell and store cryptocurrency in a virtual wallet. So far, only four cryptocurrencies are available to users - Bitcoin, Ethereum, Litecoin and Bitcoin Cas.
The marketplace has partnered with PayPal and its affiliate service Venmo, which allows users to make payments in cryptocurrency.
The service is scheduled to launch in 2022. For now, only U.S. residents have the ability to pay with cryptocurrency on Amazon.
Venmo launched support for the cryptocurrency in April 2021. Users of the payment system can buy, sell and store cryptocurrency in a virtual wallet. So far, only four cryptocurrencies are available to users - Bitcoin, Ethereum, Litecoin and Bitcoin Cas.
Binance will support🤝 a Taproot Bitcoin (BTC) update, which will happen on 709,632 blocks of the core network, or approximately November 14, 2021 (UTC).
The update is intended to improve the efficiency and capabilities of smart contracts on the network, will not lead to the creation of a new token, and will not affect BTC trading.
#bitcoin #binance #taproot
The update is intended to improve the efficiency and capabilities of smart contracts on the network, will not lead to the creation of a new token, and will not affect BTC trading.
#bitcoin #binance #taproot
New York launches its own cryptocurrency
Newly elected Mayor Eric Adams has a big goal to turn the Big Apple into the cryptocurrency industry capital. The mayor's plans include creating a supportive environment for cryptocurrency projects in the state. Also, in a recent interview with CNN, Adams suggested introducing the study of cryptocurrencies into the school program.
On November 8, it was announced that New York City will launch its cryptocurrency this month, at the initiative of the future mayor and the city's community. The altcoin is called NYCCoin and will be issued on the CityCoins platform.
The coin will begin mining on November 11. The altcoin will be used to raise investments in the New York City budget to fund city initiatives and events. In return, investors will receive a reward in Bitcoins for stacking the city token.
Developers will be able to create smart contracts and decentralized applications (dApps) based on NYCCoin.
@BaksDAO
Newly elected Mayor Eric Adams has a big goal to turn the Big Apple into the cryptocurrency industry capital. The mayor's plans include creating a supportive environment for cryptocurrency projects in the state. Also, in a recent interview with CNN, Adams suggested introducing the study of cryptocurrencies into the school program.
On November 8, it was announced that New York City will launch its cryptocurrency this month, at the initiative of the future mayor and the city's community. The altcoin is called NYCCoin and will be issued on the CityCoins platform.
The coin will begin mining on November 11. The altcoin will be used to raise investments in the New York City budget to fund city initiatives and events. In return, investors will receive a reward in Bitcoins for stacking the city token.
Developers will be able to create smart contracts and decentralized applications (dApps) based on NYCCoin.
@BaksDAO
Annual U.S.🇺🇸 inflation🇺 rose to 6.2% in October 2021, the highest since November 1990 and above forecasts of 5.8%. This announcement yesterday pushed Bitcoin's exchange rate to new records, and ATH is now locked at $69,000📈
According to the data, Japan (0.2%)🇯🇵 Saudi Arabia (0.6%)🇸🇦 and Switzerland (1.2%)🇨🇭have the lowest inflation among countries👍.
Turkey (19.9%)🇹🇷, Argentina (52.5%)🇦🇷 and Venezuela (1946%)🇻🇪! have the highest inflation.
#economics
According to the data, Japan (0.2%)🇯🇵 Saudi Arabia (0.6%)🇸🇦 and Switzerland (1.2%)🇨🇭have the lowest inflation among countries👍.
Turkey (19.9%)🇹🇷, Argentina (52.5%)🇦🇷 and Venezuela (1946%)🇻🇪! have the highest inflation.
#economics
More than 14,830 ETH🔥 have been burned on the Ethereum network in the last 24 hours.
In total, more than 858,592 ETH have been burned since the activation of the London Ethereum update.
OpenSea (98,575 ETH), ETH transfers, Uniswap and Tether USDT Stablecoin are still the leaders in burning.
#ethereum #baksdao
In total, more than 858,592 ETH have been burned since the activation of the London Ethereum update.
OpenSea (98,575 ETH), ETH transfers, Uniswap and Tether USDT Stablecoin are still the leaders in burning.
#ethereum #baksdao
After another recalculation, bitcoin's mining complexity increased 4.69% to 22.67 trillion hashes (T)⚙️, according to BTC. com.
This is the ninth consecutive increase in mining since July.
The average mining speed⏱ of a BTC block is 9 min. 34 sec. and a hash rate of 162.15 EH/s.
#bitcoin #mining #baksdao
This is the ninth consecutive increase in mining since July.
The average mining speed⏱ of a BTC block is 9 min. 34 sec. and a hash rate of 162.15 EH/s.
#bitcoin #mining #baksdao
Fear and Greed Index is in neutral zone at 52 points. Yesterday's correction failed to cool the ardor of investors, so there is a probability of further decline to $56-57,000📉. For the growth we need to consolidate above $63,000📈.
All last week the market was at 71-75 points showing greed for the asset and apparently we have yet to experience real fear😱😱.
#baksdao #cryptocurrency
All last week the market was at 71-75 points showing greed for the asset and apparently we have yet to experience real fear😱😱.
#baksdao #cryptocurrency
Time Magazine will keep Ethereum on its balance sheet after its partnership with Mike Novogratz's Galaxy Digital Via and work to support content on the fresh and relevant Metaverse👾 topic.
Not surprisingly, since The Time's🕰 history is closely connected to crypto and the magazine has always supported the industry: they were the first to introduce the concept of cryptocurrency, promoting and researching digital money for 13 years. The Time also created its own NFT collection, in which 4,676 NFT tokens were sold out at the end of September in 1 minute👍.
#NFT #ethereum #baksdao
Not surprisingly, since The Time's🕰 history is closely connected to crypto and the magazine has always supported the industry: they were the first to introduce the concept of cryptocurrency, promoting and researching digital money for 13 years. The Time also created its own NFT collection, in which 4,676 NFT tokens were sold out at the end of September in 1 minute👍.
#NFT #ethereum #baksdao
Senator Jane Hume, while speaking at the Australian Financial Review Super & Wealth Summit in Sydney, described DeFi as a new and fast-growing area of financial technology with many opportunities👍.
In her words:
"... the introduction of cryptocurrency and Defi will boost the country's economy, as well as cement Australia's role as a leader in innovation and economic progress".
Not surprisingly, because according to a survey in the country about 17% of residents invested in cryptocurrency💸, and one of the major banks "Commonwealth Bank"🏛 became the first Australian bank that allowed its customers to own not only fiat funds, but also cryptocurrency.
The population is ready for official recognition of the asset, and the positive attitude towards the DeFi sector could make Australia the first country in the world to appreciate the functionality of decentralised finance!🏆
#defi #BAKS
In her words:
"... the introduction of cryptocurrency and Defi will boost the country's economy, as well as cement Australia's role as a leader in innovation and economic progress".
Not surprisingly, because according to a survey in the country about 17% of residents invested in cryptocurrency💸, and one of the major banks "Commonwealth Bank"🏛 became the first Australian bank that allowed its customers to own not only fiat funds, but also cryptocurrency.
The population is ready for official recognition of the asset, and the positive attitude towards the DeFi sector could make Australia the first country in the world to appreciate the functionality of decentralised finance!🏆
#defi #BAKS
Centralized and decentralized crypto-platforms. Advantages and disadvantages.
Today, it is impossible to imagine the cryptocurrency market without platforms for buying, exchanging and storing cryptocurrency assets. Every day, over $100 billion worth of transactions are made on such platforms. You can find thousands of different services offering exchange, storage and loan services in the market and all of them are divided into two types: centralized and decentralized platforms.
🔺 Centralized platforms 🔺
Such a service is managed from a one center. Control over all transactions and operations lies on the administration of the exchange, and the account and wallet do not belong to the user personally, but are given for use under certain conditions.
Centralization implies the client's trust in the platform and the transfer of his assets to a third party.
Back in the recent past, all organizations that dealt with finances were centralized. They acted as a trusted intermediary for all financial assets. For example, customers would hand money over to a bank for safekeeping, and the bank would have complete control over it.
Pros:
▫️ Ability to work with fiat;
▫️ Wide functionality: availability of trading functions;
▫️ Ability to add any asset to the listing;
▫️ Support service can solve any issue: from restoring access to the account to the cancellation of the operation.
Cons:
▫️ Lack of anonymity;
▫️ Security issues;
▫️ Availability of transaction limits;
▫️ Price manipulation.
❗️Important note: if you keep funds on a centralized platform, they become yours only when you withdraw them to your own wallet.❗️
🔺 Decentralized platforms 🔺
On a decentralized platform, all transactions are based on smart contracts and processed on a blockchain, and users control their own wallets.
Pros:
▫️ Anonymity;
▫️ Security. All keys are in the hands of the owner.
▫️ Full control over your assets and financial transactions.
▫️ Impossibility of financial manipulation even by platform administrators.
Cons:
▫️ Liability. You need to pay attention to the correctness of the data entered in the operations, because it will be impossible to undo them. And also on no account you should not lose the data for access to a purse. Only you have access to these data, so in case of loss no one will be able to help you restore them;
▫️ A limited set of functions, in most cases such services are highly specialized;
▫️ Transactions can only be made in the currency that is supported by the smart contract.
BaksDAO is a decentralized financial service or DeFi. Transactions are made without intermediaries in the form of banks and other centralized financial structures, and do not require the collection of documents or disclosure of identity. It was the decentralization technology that allowed us to create a secure, accessible, convenient and, most importantly, functional service.
Today, it is impossible to imagine the cryptocurrency market without platforms for buying, exchanging and storing cryptocurrency assets. Every day, over $100 billion worth of transactions are made on such platforms. You can find thousands of different services offering exchange, storage and loan services in the market and all of them are divided into two types: centralized and decentralized platforms.
🔺 Centralized platforms 🔺
Such a service is managed from a one center. Control over all transactions and operations lies on the administration of the exchange, and the account and wallet do not belong to the user personally, but are given for use under certain conditions.
Centralization implies the client's trust in the platform and the transfer of his assets to a third party.
Back in the recent past, all organizations that dealt with finances were centralized. They acted as a trusted intermediary for all financial assets. For example, customers would hand money over to a bank for safekeeping, and the bank would have complete control over it.
Pros:
▫️ Ability to work with fiat;
▫️ Wide functionality: availability of trading functions;
▫️ Ability to add any asset to the listing;
▫️ Support service can solve any issue: from restoring access to the account to the cancellation of the operation.
Cons:
▫️ Lack of anonymity;
▫️ Security issues;
▫️ Availability of transaction limits;
▫️ Price manipulation.
❗️Important note: if you keep funds on a centralized platform, they become yours only when you withdraw them to your own wallet.❗️
🔺 Decentralized platforms 🔺
On a decentralized platform, all transactions are based on smart contracts and processed on a blockchain, and users control their own wallets.
Pros:
▫️ Anonymity;
▫️ Security. All keys are in the hands of the owner.
▫️ Full control over your assets and financial transactions.
▫️ Impossibility of financial manipulation even by platform administrators.
Cons:
▫️ Liability. You need to pay attention to the correctness of the data entered in the operations, because it will be impossible to undo them. And also on no account you should not lose the data for access to a purse. Only you have access to these data, so in case of loss no one will be able to help you restore them;
▫️ A limited set of functions, in most cases such services are highly specialized;
▫️ Transactions can only be made in the currency that is supported by the smart contract.
BaksDAO is a decentralized financial service or DeFi. Transactions are made without intermediaries in the form of banks and other centralized financial structures, and do not require the collection of documents or disclosure of identity. It was the decentralization technology that allowed us to create a secure, accessible, convenient and, most importantly, functional service.
Our BaksDAO platform is already on the finish line. Very soon you will be able to fully use DeFi services with us. Today we propose to summarize the preliminary results, because there is actually a lot of💪🏻💪🏻💪🏻 done:
1. we have completed and tested one of the key features on the platform - secured cryptocurrency loan on BSChain Testnet⚙️
2. already made the first integration with the exchange, so that holders can exchange BAKS Stablecoin for other cryptocurrencies, if necessary💰
3. we integrated the function of updating cryptocurrency rates with ChainLink 💸
4. we are actively working on updating the website ⚙️
5. we launched the Bounty program (@baksdao_bounty21_int_bot) 🥥
6. launching testing of deposit function💎
As well as many other things. We continue to pick up speed and will be ready to meet every one of our users soon, on December 15🎉🎉🎉.
Thank you for your trust, stay tuned on social networks and stay with us❤️!
#baksdao #BAKS
1. we have completed and tested one of the key features on the platform - secured cryptocurrency loan on BSChain Testnet⚙️
2. already made the first integration with the exchange, so that holders can exchange BAKS Stablecoin for other cryptocurrencies, if necessary💰
3. we integrated the function of updating cryptocurrency rates with ChainLink 💸
4. we are actively working on updating the website ⚙️
5. we launched the Bounty program (@baksdao_bounty21_int_bot) 🥥
6. launching testing of deposit function💎
As well as many other things. We continue to pick up speed and will be ready to meet every one of our users soon, on December 15🎉🎉🎉.
Thank you for your trust, stay tuned on social networks and stay with us❤️!
#baksdao #BAKS
Baksdao
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🤘🏻December is the most important month for BaksDAO🤘🏻
Today marks the start of the last month of the year. Many are slowly reflecting on the events that have passed, beginning to take stock and plan for a leisurely future🥱....
Many, but not us! We're announcing the hottest, most productive and eventful month ever! 💪🏻💪🏻💪🏻
This December we will be:
- Finish testing the deposit function and doing a clean run of all transactions👍🏼
- Undertake an audit and get platform cleanliness confirmation ✅
- hold a unique online session with developers and project funders to celebrate the launch of BaksDAO📢
- launch the platform in the official release and test its features for the first time🔥
- summing up the results of the bounty program and giving away the first BDV voting tokens and BAKS💸 stablecoins
- Celebrating Christmas and the New Year🎄 with you for the first time
- Rushing into 2022 full of energy and plans🎉!
🚀🚀🚀Today, December 1, we're starting the countdown to the launch of BaksDAO! Time is running out, and soon we'll be able to use this modern, relevant, affordable service together for everyone!
Follow our news and social networks, we'll write you about all the details right away! It won't be long before we become a big decentralized family🙏🏼!
#baksdao #BAKS
Today marks the start of the last month of the year. Many are slowly reflecting on the events that have passed, beginning to take stock and plan for a leisurely future🥱....
Many, but not us! We're announcing the hottest, most productive and eventful month ever! 💪🏻💪🏻💪🏻
This December we will be:
- Finish testing the deposit function and doing a clean run of all transactions👍🏼
- Undertake an audit and get platform cleanliness confirmation ✅
- hold a unique online session with developers and project funders to celebrate the launch of BaksDAO📢
- launch the platform in the official release and test its features for the first time🔥
- summing up the results of the bounty program and giving away the first BDV voting tokens and BAKS💸 stablecoins
- Celebrating Christmas and the New Year🎄 with you for the first time
- Rushing into 2022 full of energy and plans🎉!
🚀🚀🚀Today, December 1, we're starting the countdown to the launch of BaksDAO! Time is running out, and soon we'll be able to use this modern, relevant, affordable service together for everyone!
Follow our news and social networks, we'll write you about all the details right away! It won't be long before we become a big decentralized family🙏🏼!
#baksdao #BAKS
Baksdao
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Dear friends! There are important news about the BaksDAO release.
We are starting an audit of our platform's smart contracts with an international cybersecurity auditor. All smart contracts will be tested for security and operability. We will definitely inform you about the results of the audit.
You will receive a high-quality and safe product with which you will be able to increase your fortune.
BaksDAO's open online presentation will be on December 16, 2021. BaksDAO founders will give you a tour of the platform, talk about the intricacies of working with it and answer questions from the audience. The form for registration for the meeting will appear later.
And until December 25, we will summarize the results of the Bounty program and distribute gifts 🎁
You still have the opportunity to become a member of the program — just follow the instructions of the bot.
Thank you for joining the community and waiting for the release of the platform with us. 💫
@baksdao
#baksdao #bounty #security
We are starting an audit of our platform's smart contracts with an international cybersecurity auditor. All smart contracts will be tested for security and operability. We will definitely inform you about the results of the audit.
You will receive a high-quality and safe product with which you will be able to increase your fortune.
BaksDAO's open online presentation will be on December 16, 2021. BaksDAO founders will give you a tour of the platform, talk about the intricacies of working with it and answer questions from the audience. The form for registration for the meeting will appear later.
And until December 25, we will summarize the results of the Bounty program and distribute gifts 🎁
You still have the opportunity to become a member of the program — just follow the instructions of the bot.
Thank you for joining the community and waiting for the release of the platform with us. 💫
@baksdao
#baksdao #bounty #security
Dear friends, thank you very much to those who are participating in our airdrop! 🤗
As promised we are posting the google form in order to check eligibility and collect payment information, so we can distribute prizes properly. Just a friendly reminder - in order to get prizes you need to fulfill all requirements, i.e. join our other social media as well. For your convenience, here are links to our social media that we asked you to join:
https://news.1rj.ru/str/BaksDAO_INT_COMMUNITY
https://news.1rj.ru/str/BaksDAO_IntBlog
https://twitter.com/BaksDao
https://www.facebook.com/BaksDAOint/
https://medium.com/@BaksDAO
Get 10 BAKS + 500 BDV tokens if you are among the first lucky 50 participants;
3 BAKS and 250 BDV tokens if you are among the first 200,
and 100 BDV tokens if you are among the first 500.
Please fill out this form at your earliest convenience!
Here is this form: https://forms.gle/8RxPXWJHzUzqCnP29
Your tokens will be credited to you no later than December 25, 2021, so that you have a pleasant Christmas 🤍🎄
As promised we are posting the google form in order to check eligibility and collect payment information, so we can distribute prizes properly. Just a friendly reminder - in order to get prizes you need to fulfill all requirements, i.e. join our other social media as well. For your convenience, here are links to our social media that we asked you to join:
https://news.1rj.ru/str/BaksDAO_INT_COMMUNITY
https://news.1rj.ru/str/BaksDAO_IntBlog
https://twitter.com/BaksDao
https://www.facebook.com/BaksDAOint/
https://medium.com/@BaksDAO
Get 10 BAKS + 500 BDV tokens if you are among the first lucky 50 participants;
3 BAKS and 250 BDV tokens if you are among the first 200,
and 100 BDV tokens if you are among the first 500.
Please fill out this form at your earliest convenience!
Here is this form: https://forms.gle/8RxPXWJHzUzqCnP29
Your tokens will be credited to you no later than December 25, 2021, so that you have a pleasant Christmas 🤍🎄