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💱Former Coinbase Execs Debut Stablecoin Exchange and PayPal USD Settlement Network
The exchange is "leveraging the power of stablecoins to facilitate efficient liquidity and settlement solutions,” said Vishal Gupta, CEO of TrueX.
TrueX, founded by a former Coinbase exec, has launched True Market, a stablecoin-native and non-custodial crypto trading platform. The company has also completed a $9 million seed funding from investors including Solana Foundation, Aptos, Paxos, and others. The platform features PayPal's PYUSD as the preferred stablecoin for settlements.
Founded by former Coinbase, Circle, and Goldman Sachs executives Vishal Gupta and Patrick McCreary, TrueX represents the flagship product of True Markets, a non-custodial platform offering innovative liquidity solutions.
TrueX uses Paxos for its infrastructure—the same firm that previously issued Binance USD (BUSD) and now oversees PYUSD. 0 reply
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🎮As ‘Banana’ Telegram Game Rises, CARV Reveals $50 Million Accelerator
CARV Labs will support startups working on the data protocol, with first project—the Telegram game Banana—hitting 10 million players.
CARV Labs' first incubated project, an idle game called Banana built as a Telegram mini app in The Open Network (TON) ecosystem, has attracted 10 million players since launching in late July. Banana lets players tap to earn points, as well as unlock a variety of colorful and unique fruit collectibles—akin to a popular but unrelated PC game of the same name.
The accelerator has a number of gaming-centric partners, CARV said, including Netmarble subsidiary Marblex, Intella X, Doublejump.tokyo, and Xterio.
CARV says that it has generated over $5 million in revenue year-to-date from applications using its protocol. In August, CARV launched its Alphanet, operated by 40,000 community-run verifier nodes valued at $35 million. 0 reply
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🔄MakerDAO rebrands to Sky, DAI stablecoin optionally upgradeable to USDS.
MakerDAO, the decentralized autonomous organization behind the DAI stablecoin, has rebranded to Sky and named its new upgradeable tokens, set to launch on Sept. 18.
As part of the project’s “Endgame” plan, the changes will allow DAI holders to upgrade to a new stablecoin, Sky Dollar (USDS), at a 1:1 ratio that provides access to native token rewards. MakerDAO’s governance token, * MKR +0.69% , which currently has a value of $2,129, according to The Block’s MKR price page, will become upgradeable to SKY at a 1:24,000 ratio.
The Block reported on the redenomination plans last week, though the token names had yet to be unveiled. The redenomination aims to broaden participation in MakerDAO’s governance by allowing more users to hold significant amounts of SKY. 0 reply
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