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Bored Ape NFT Prices Tank to August 2022 Levels, Down 90% From Peak

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Bored Apes were one of the most globally hyped NFTs in the last bull market, but have suffered amid a general lack of demand for NFT collections.[/]

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TONUSD – A UNIQUE DIGITAL ASSET BACKED BY THE POWER OF LIQUIDITY PROVIDER

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TonUSD is an ambitious cryptocurrency project aimed at creating a sustainable and reliable stablecoin on the TON (Telegram Open Network) blockchain platform. With a mission to provide an efficient, secure, and transparent payment solution, TonUSD aims to become a superior medium of exchange and store of value within the TON ecosystem as well as in the world of decentralized finance (DeFi).

TonUSD

The TonUSD project was born to solve the existing issues in the traditional financial system, the volatility of cryptocurrencies, lack of transparency and efficiency in cross-border transactions, and the complexity of accessing financial services. By leveraging the power of blockchain technology and the scalability of the TON network, TonUSD offers a comprehensive and easily accessible solution to users worldwide.

One of the key features of TonUSD is its mechanism for maintaining the stability of the currency through the use of Liquidity Providers (LP) and a flexible transaction fee policy. This ensures that the value of TonUSD remains pegged and stable, avoiding the high volatility experienced by many other cryptocurrencies. At the same time, the application of TON blockchain technology also enhances security, transparency, and efficiency in all transactions related to TonUSD.

 

Moreover, TonUSD is building a diverse and rich ecosystem that includes decentralized applications (DApps) such as storage wallets, exchanges, lending and borrowing platforms (Defi), as well as an NFT marketplace. This opens up numerous opportunities for TonUSD users to manage their assets, participate in financial and entertainment activities on the TON platform.

 

With a vision to become a leading stablecoin and contribute to the development of the TON ecosystem, the TonUSD project is committed to delivering optimal solutions and experiences to users while promoting innovation and progress in the field of decentralized finance.

 

TonUSD Foundation

TonUSD Foundation is a non-profit organization with the primary goal of creating and managing the ecosystem of TonUSD, a stable crypto currency operating on the TON blockchain. 

The main goals of TonUSD Foundation

Creating a stable and secure currency: This helps improve liquidity and stability in financial transactions on the TON blockchain platform.

Building a decentralized and flexible financial ecosystem: The goal is to enable everyone to access and use financial services easily, without relying on traditional intermediary organizations.

Developing and expanding the TonUSD ecosystem: Collaborating and partnering with interested organizations and individuals to expand and develop the TonUSD ecosystem. It can be said that TonUSD is not another stablecoin; it’s a unique digital asset backed by the power of liquidity providers. 

 

TonUSD Operating Mechanism

The TonUSD Minting and Redemption process is designed to be simple, transparent, and efficient:

 

Only users who own Minter NFTs can mint TonUSD based on the quota of that NFT and pay minting fee. Similarly, only users who own Redeemer NFTs can redeem TonUSD and receive the corresponding amount of TON, plus pay the redeem fee.

 

50% profits from minting, redemption, and swapping fees are directly added to the Treasury Pool. Users can stake TonUSD to share in the profits from this pool.

 

The Phoenix Mechanism and Dragon Mechanism are safety mechanisms activated to bring the price of TonUSD back to 1 USD.

                                                                               Phoenix Event

 

                                                                                  Dragon Event

 

TonUSD NFT Shares are non-fungible tokens representing ownership and benefits within the TonUSD ecosystem. The issuance of TonUSD NFT Shares aims to attract community participation and support while creating a fair and transparent allocation mechanism.

 

Initial NFT Offering:

  • The total supply of NFT Shares is predetermined and sold through two rounds in Quarter 2, 2024: The first private sales round and then public sales round for the rest (if any NFT left).
  • Each issuance round has a specific number of NFT Shares and is sold through direct sales.
  • Users can only purchase NFT Shares with TON.
  • Any remaining NFTs will be burned.

 

Genesis NFT Sales

NFT type Amount (NFT) Quota of NFTs to mint/redeem (TonUSD/month)
Silver  1050 100
Gold 1050 550
Diamond 105 6000

 

Please follow us on Telegram channel https://t.me/TonUSD_channel  to update more information.

🔷 Roadmap of TonUSD

Phase 1: Launch of TonUSD and Building the Core Ecosystem

Phase 2: Expanding the Ecosystem and Partnering with Strategic Collaborators

Phase 3: Global-Scale Development

TonUSD Official Links:

Website | Twitter Telegram | Telegram chat | Medium

 

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The Crypto Analyst Who Predicted Bitcoin’s (BTC) Rally to $70K Has Turned Bearish

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“Our growing concern is that risk assets (stocks and crypto) are teetering on the edge of a significant price correction. The primary trigger is the unexpected and persistent inflation. With the bond market now projecting less than three cuts and 10-year Treasury Yields surpassing 4.50%, we may have arrived at a crucial tipping point for risk assets,” Markus Thielen, founder of 10X Research, said in a note to clients Tuesday.

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Bitcoin Dips Below $62.5K as CoinDesk's BTC Trend Indicator Turns Neutral

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CoinDesk Indices’ Bitcoin Trend Indicator has been indicating a strong uptrend since last fall.[/]

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Bitcoin Halving Has Crypto Miners Racing for ‘Epic Sat’ Potentially Worth Millions

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“So if we take that satoshi that is produced in an event that happens every two weeks, to a sat that’s produced just once every four years, I don’t know what that’s going to be worth, but it could be millions,” Adam Swick, chief growth officer of mining firm Marathon Digital Holdings (MARA), said in an interview.

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Solana Rolls Out Update to Tackle Congestion as Meme Coin Frenzy Bogs Network

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Broadly speaking, the final version prioritizes transactions from “good” validators, or those with a sizeable stake, to a node leader, where transactions are ultimately confirmed. Such a priority would allow validators with a higher stake to receive higher quality of service – preventing lower-quality validators from maliciously flooding the network with transactions.

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Crypto Exchange OKX Goes Live With New Layer-2 Chain, Following in Footsteps of Coinbase

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“We envision X Layer and other layer-2 chains as the highway infrastructure of the Web3 world, with dApps as the marketplaces and self-hosted wallets as the vehicles that take you there,” OKX Chief Marketing Officer Haider Rafique said in the press release.

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Rare ‘Satoshi Era’ Bitcoin (BTC) Moves After 14 Years of Dormancy

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Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

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Norway Wants to Restrict Crypto Mining by Regulating Data Centers, Lawmakers Say: Report

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Energy-intensive crypto mining is an example of a type of business not wanted in Norway, Minister for Energy Terje Aasland reportedly said.[/]

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How Investors Should Handle Celsius in Their Tax Returns This Year

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The tax implications of Celsius, which finalized its bankruptcy in January, are complex. Creditors are categorized into specific groups, each with different rights and claim treatments. And that’s without even considering those who sold their claims to creditors who’ll face different tax implications on top of this. Furthermore, the preferential way to deal with your Celsius transactions from a tax perspective will also depend on the amount you had in Celsius, your total annual income, and many other circumstances.

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