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Importance of Using Cryptex Locker

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Introduction:

Cryptocurrency is comparatively a new concept. Sound knowledge is required to do transactions using crypto. This area is growing rapidly and is becoming very popular. Simultaneously, the hackers have started to adopt newer methods to cause distress and steal all the currencies. But it is possible to provide safeguards to the digital currencies to avoid massive losses. This article deals with that part about cryptocurrency, which talks about protecting them from malicious attacks. The concept of liquidity pool lockers is also discussed below in detail.

We can define cryptocurrency as digital tokens that can be secured through cryptography. We can consider it as a digital asset. Cryptocurrencies have experienced a lot of backlash and controversies for multiple reasons. These reasons mainly include their usage for illegal activities and their vulnerability to malicious attacks. At the same time, they also got praised for various reasons, including their transparency, portability, etc. Bitcoin is the most popular form of cryptocurrency.

How to Protect Cryptocurrency?

As had already been mentioned, cryptocurrency is a new market. But that does not make it any less vulnerable to instances of hacking and thefts. Hence, it becomes very necessary to safeguard digital currencies. There have been various instances where people got exposed to malicious attacks.

Such attacks lead to the loss of several cryptocurrencies. The people who hack these accounts then tend to vanish on the internet, and it becomes impossible to trace them. They also take loads of digital currencies along.

One of the best ways to protect digital currencies is to use a wallet. Originally there were two types of wallets. These days new designs are also getting introduced. Amongst all these options, the physical wallet has to be the best option. These are also called hardware wallets. They have a password, which one needs to know, to gain access to the tokens. There is also a big disadvantage of these hardware wallets. If the user loses or forgets the password, they can never access the tokens by any other method.

Apart from these, there are paper wallets too, which are online wallets.

Users should always use strong passwords, and they should never share their secrets keys.

Why should we use a Liquidity Pool Locker?

Cryptex is a type of liquidity pool locker. A liquidity pool locker allows a user to store their tokens under a smart contract. According to this contract, they cannot transfer the tokens from the starting date till the ending date mentioned in the contract. There are various such lockers present, and some of them are very reputed too. Due to such restrictions, the currencies stay safe and sound, and they are not vulnerable to malicious attacks. The user can also customize the duration and then store the LP tokens. These lockers do not take possession of the tokens, their function is to keep them safe for a mentioned period as per the smart contract.

Amongst all the techniques, liquidity pool locker is a very effective one. It also does not possess risks as compared to cold wallets.

If an individual (developer) does not have ownership of the LP tokens, they can’t claim the pool funds back at any point in time.

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Divergence Lists on AscendEX

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Divergence Lists on AscendEX

On Sept. 23 at 1 p.m. UTC AscendEX will list the Divergence token (DIVER) under the trading pair USDT/DIVER. To celebrate the listing, AscendEX and the Divergence team are pairing up to launch a number of limited-time promotional events between 1:00 a.m. UTC, on Sept. 24 and 12:00 a.m. UTC, on Oct. 1, 2021. These events will offer users the chance to share 90,000 USDT worth of pooled rewards.

Divergence is a decentralized platform built for hedging and trading DeFi-native asset volatility with an AMM-based marketplace, trading synthetic binary options. Currently, there’s a lack of practical, easy-to-use solutions for trading and hedging volatility of assets that exist on the different layers of DeFi applications with exposure to multiple sources of risk. 

Volatility derivatives and options products are a significant sector in traditional finance, yet they are still in their early stages when it comes to crypto markets. Derivative products have a high technical entry barrier for retail users, especially for products like options. Divergence has started by offering binary options which have relatively easy-to-understand mechanisms and a binary payoff.  

A key feature of the Divergence user experience is the simplicity of option composability. Option markets on Divergence platform can be created at strike prices and expiration cycles of choice, using any fungible token, including DeFi assets issued by other protocols. The platform features a one-step seeding and minting process, meaning that users don’t need to mint a derivative token prior to allocating funds to a seed pool, minimizing fees for traders.

Divergence has also focused on Capital Efficiency. Only one collateral unit is required to write a binary call or put for a pool with no need for over-collateralization. Once a pool is created, the same collateral is used when it is time to buy or sell options. The smart contract reserves max claims for collateral, providing LPs the flexibility of withdrawing capital before expiry.

When it comes to managing price risk, existing decentralized futures and perpetual products offer linear risk exposures for a limited number of major assets. Options, as a less-developed product, can provide a non-linear risk-reward structure. This allows options traders to build leveraged positions in assets at a lower cost than making a traditional transaction. 

​​The DIVER token is a transferable representation of the governance and utility functions specified in the Divergence platform. DIVER allows holders to propose and vote in on-chain governance proposals to determine future features and parameters of the Divergence platform. Divergence Staking contracts are used to provide higher yield to long-term holders of DIVER tokens. Divergence will periodically share various types of token rewards amongst the stakers and governance token holders.

AscendEX’s listing of Divergence exhibits their strong support for DeFi projects designed to accommodate new retail users and professional traders alike. Divergence’s commitment to a simplified user experience for a very technical product offering is exactly the type of project that AscendEX aims to partner with to open up new retail markets in the crypto space.

About AscendEX 

AscendEX is a global cryptocurrency financial platform with a comprehensive product suite including spot, margin, and futures trading, wallet services, and staking support for over 150 blockchain projects such as bitcoin, ether, and ripple. Launched in 2018, AscendEX services over 1 million retail and institutional clients globally with a highly liquid trading platform and secure custody solutions. 

AscendEX has emerged as a leading platform by ROI on its “initial exchange offerings” by supporting some of the industry’s most innovative projects from the DeFi ecosystem such as Thorchain, xDai Stake, and Serum.  AscendEX users receive exclusive access to token airdrops and the ability to purchase tokens at the earliest possible stage. To learn more about how AscendEX is leveraging best practices from both Wall Street and the cryptocurrency ecosystem to bring the best altcoins to its users, please visit www.AscendEX.com.

For more information and updates, please visit:

About Divergence

Divergence is a decentralized platform for hedging and trading DeFi-native asset volatility, with its flagship product being an AMM-based marketplace that trades synthetic binary options.  Derivative products have a relatively high technical entry barrier for retail users, especially for products like options. Divergence has started by offering binary options which have relatively easy-to-understand mechanisms and a binary payoff.  

For more information and updates, please visit:

Disclaimer: This is a paid Press Release. Any information contained in this website is not proposed to be and doesn’t constitute financial advice, investment advice, trading advice, or any other advice. The NewsCrypto is not responsible to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release.

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Want to Know the Top 5 Coins For Staking in 2021? Find Out!

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Want to Know the Top 5 Coins For Staking in 2021? Find Out!
  • The validators (stakers) are also paid with the freshly minted coin.
  • Polkadot is a heterogeneous multichain exchange blockchain.

Crypto staking is becoming one of the most profitable methods to earn, invest, and profit.

It is the process of verifying ‘locked up’ digital assets in a decentralized crypto network to guarantee the network’s integrity, consistency, and security. The validators (stakers) are also paid with the freshly minted coin to assist and protect the network.

Here are the best five cryptocurrencies to stake in 2021.

Cardano (ADA)

The co-founder of Ethereum developed Cardano. Thus they have certain similarities. Smart contracts are digital agreements that utilize blockchain technology to verify transactions. Some investors think smart contracts would change society, especially the legal industry.

Cardano is more energy-efficient than Bitcoin. Bitcoin miners utilize powerful computers to solve increasingly challenging puzzles to verify transactions and earn tokens.

Cardano (ADA) staking is possible on Crypto.com and Binance. A more secluded location to stake may be found in Yoroi Wallet or Daedalus Wallet. According to CoinMarketCap, the Cardano price today is $2.08 USD with a 24-hour trading volume of $2,808,791,362 USD.

Polkadot (DOT)

Polkadot, a heterogeneous multichain exchange blockchain created by Ethereum co-founder Gavin Wood. In this way, several blockchains may communicate with each other. Staking this asset may be a fantastic choice as the platform expands to accommodate additional projects.

According to CoinMarketCap, the Polkadot price today is $27.10 USD with a 24-hour trading volume of $1,540,743,056 USD.

VeChain (VET)

VeChain, a blockchain platform, aims to record every step of the supply chain. It is still up over 600% year-to-date compared to December 2020. So, this cryptocurrency has been on a roll, despite a drop this year. This is a great result and may indicate a strong future for the coin.

According to CoinMarketCap, the VeChain price today is $0.084943 USD with a 24-hour trading volume of $302,011,017 USD.

Solana (SOL)

Solana (SOL) is a scalable Open Technology blockchain and cryptocurrency. Soon after its debut, Solana built a DEX using the Serum protocol, another emerging blockchain.

Furthermore, the Solana platform is a powerful Ethereum alternative. So, the greatest SOL burst may occur in late 2021. According to CoinMarketCap, the Solana price today is $130.74 USD with a 24-hour trading volume of $2,516,287,186 USD.

Cosmos (ATOM)

Several crypto analysts and professionals believe Cosmos (ATOM) is a superior investment to other major cryptocurrencies and DeFi coins due to its first-mover advantage as an interoperable blockchain platform.

Despite Cosmos’ ups and downs, experts expect ATOM’s price to increase over time. Moreover, Cosmos will always have an edge as an interoperable blockchain. According to CoinMarketCap, the ATOM price today is $35.37 USD with a 24-hour trading volume of $1,079,176,926 USD.

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Cardano (ADA) Needs Retail Trader’s Support to Avoid Downfall

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Cardano (ADA) Needs Retail Trader's Support to Avoid Downfall