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How and why applications can integrate DEFIT into their programs

Team Bitcoin Daily

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Since the advent of Blockchain and cryptocurrencies, many industries have experienced unparalleled growth. For instance, the supply chain industry has become more efficient than ever. Some applications in this industry have reduced the total time of the process to 90%. Other industries like medical record-keeping leverage the secured and transparent infrastructure provided by Blockchain-based applications. 

However, every industry does not require its own Blockchain solution to experience the powers of true digitalization. 

Among the several applications of Blockchain, the use of cryptographic tokens has emerged as the most sustainable and suitable implementation in any environment. The ability of Blockchain to allow the tokenization of every asset has led to more liquidity, transparency, and market visibility. 

But above all, it has allowed the world to complete financial transactions in a better way. 

The need for Blockchain-based token

Financial transactions happening over the Blockchain are free from unreasonable taxes. Moreover, the removal of the third party from the ecosystem system allows the network to complete transactions almost instantaneously. The digital world never takes a day off and being decentralized, it always provides an unbiased service. 

Therefore, what Blockchain facilitates is a direct transfer of value between two parties which is faster, more secure, less costly, and reliable. 

To enjoy this feature of Blockchain, applications are required to have their own tokens or integrate and existing tokens. 

When it comes to creating a token, it might seem like an easy task but there is a lot more than meets the eye. For instance, the tokenomics of the token has to be defined in such a way that the token value is maintained. A well-defined tokenomics allow the token to be resilient to any attacks such as pump and dump. 

Further, tokenomics also plays a major role in ensuring that the token value increases over time, maintaining the interest of the users and providing more usability to the token. Other considerations that are necessary to create a sustainable token are features like buyback and burn, locking liquidity, initial locking period for the tokens allocated to the core team, and several others.

Therefore, while having a token for an application seems to be a great option, it can also be very intimidating due to the technicalities which have restricted several applications.

This is where DEFIT saves the day. 

What is DEFIT and why an application needs it

DEFIT is an ERC20 token by 360Wellness. Being an ERC20 token, DEFIT can be used with any wallet, application, or environment where Ethereum is integrated as ERC20 is the prominent token standard for the Ethereum Blockchain. 

Primarily, DEFIT is the native token of the 360Wellness application. It is used to facilitate all the financial interactions in the 360Wellness ecosystem including the payment for trainers, subscriptions, and other features in the application. Apart from this, DEFIT can also be used for staking. This means that users can hold DEFIT tokens to earn a passive income by becoming liquidity providers.

What needs to be considered here is that DEFIT can be used by any application. By just accepting DEFIT as a payment option, any application can utilize the DEFIT token to complete financial transactions. It will allow the application to adapt to the modern payment network. 

What makes DEFIT appropriate for applications to integrate it is the fact that the DEFIT token has a buy-back policy. According to this, 360Wellness will buy DEFIT tokens with their revenue surplus to maintain the circulation of tokens and increase their value over time. 

Conclusion

In conclusion, any application looking to experience the powers of Blockchain and tokenization can integrate DEFIT into their ecosystem. Especially for the organizations related to the health and fitness industry, the inclusion of DEFIT can open several doors.

360Wellness has been downloaded in 172 countries which means DEFIT has a global platform and international recognition. This will allow other applications using DEFIT to easily scale their user base and facilitate cross-border payments with no intricacies. 

 

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Sastanaqqam and Bybit Collaborate to Host Groundbreaking Event: “Art vs. NFTs: Bridging the Gap”

Crypto Chain Wire

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Sastanaqqam, an emerging Web3 ecosystem, has partnered with Bybit, a top-tier cryptocurrency exchange, to host an exclusive event titled “Art vs. NFTs: Bridging the Gap.” The event took place live at the Bybit office in Dubai, attracting a diverse audience of artists, digital art enthusiasts, and blockchain innovators.

The event explored the evolving relationship between traditional art and NFTs, highlighting how digital art is transforming the art world. Attendees gained insights into how NFTs are not just pixels on the blockchain but a new medium for artistic expression and ownership.

Event Highlights:

  • Live Presentations: Industry experts and artists presented their perspectives on the integration of art and NFTs, offering a deep dive into the technological advancements and cultural shifts driving this fusion.
  • Networking Opportunities: Participants had the chance to network with like-minded individuals, fostering collaborations and discussions on the future of digital art.
  • Exciting Airdrops: Attendees were eligible for exclusive airdrops, adding an element of excitement and engagement to the event.
  • Interactive Sessions: The event featured interactive sessions where guests could engage directly with speakers, asking questions and sharing their views on the dynamic landscape of NFTs in the art world.

“It’s an exciting time to be at the intersection of art and technology,” said Azzi Mohamed Mbarek, CBDO of Sastanaqqam. “This event is about more than just understanding NFTs; it’s about appreciating how they are reshaping the way we create, share, and own art. Our collaboration with Bybit reflects our commitment to pioneering new frontiers in the digital art space.”

“We were thrilled to host this event in our Dubai office,” added Phoebe, event organizer from Bybit. “Bybit is always looking for innovative ways to support and promote the Web 3.0 community, and this event is a perfect example of that. We invited everyone to join us and be part of this exciting conversation.”

For more information, visit Sastanaqqam’s website or follow us on Twitter and Instagram.

About Sastanaqqam: Sastanaqqam is a Polygon-based Web3 ecosystem where art, DeFi, education, and gaming intersect. Backed by its native $Bloo token, Sastanaqqam offers a seamless user experience across its platforms, democratizing access to the benefits of Web3 technology.

About Bybit: Bybit is one of the world’s leading cryptocurrency exchanges, providing a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service, and multilingual community support.

PR Contact:
ZEX PR WIRE
info@zexprwire.com

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EXOLO’s Triple Success: Revolutionizing Crypto at Key 2024 Events

Crypto Chain Wire

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In a year marked by extraordinary advancements in the cryptocurrency sector, EXOLO has solidified its position as a frontrunner in innovation, security, and transparency. Their participation in three prestigious events – TOKEN2049 Dubai, Hong Kong WOW Summit, and Crypto Expo Dubai 2024 – highlights their commitment to transforming the digital finance landscape and showcasing pioneering security measures and transparent operations.

TOKEN2049: Pioneering Security in the Crypto World

TOKEN2049 was a significant milestone for EXOLO, held from April 18-19, 2024. The event attracted over 10,000 attendees from more than 4,000 companies worldwide. EXOLO’s booth showcased cutting-edge security technology through an engaging mind game, highlighting their 7-layer security system. EXOLO’s speaker’s address on the aftermath of the FTX collapse and the importance of “proof of reserves” resonated with the audience, emphasizing their dedication to transparency and security.

The event’s after-exhibition party, sponsored by EXOLO, was a perfect opportunity to deepen connections with industry leaders, including influential venture capitalists and Key Opinion Leaders (KOLs). EXOLO’s active participation underscored its role as a pioneer in integrating advanced technology with core financial principles.

Hong Kong WOW Summit: A Milestone in Web3 Revolution

Sponsoring and participating in the 2024 Hong Kong WOW Summit was a key milestone in EXOLO’s Web3 revolution journey. The summit provided EXOLO with an unmatched opportunity to engage directly with industry leaders, forge valuable connections, and showcase innovations. Their exhibition booth, a vibrant hub of engagement and excitement, drew attendees into a unique experience, reflecting the innovative spirit at the heart of EXOLO.

EXOLO’s speaker’s presentation at the summit delved into the evolving economy, institutional adoption of Bitcoin, and the implications of major crypto entities’ collapses, providing profound insights into the shifts and trends shaping the financial future. His interview highlighted EXOLO’s mission to innovate safely and transparently, celebrating the growing acceptance of crypto by once-skeptical institutions.

Crypto Expo 2024: A Showcase of Transparency

Crypto Expo 2024 brought together the brightest minds in the crypto universe. EXOLO’s booth, designed with a transparency theme, stood out for its cutting-edge security features and engaging interactions. Visitors praised EXOLO’s 7-layer security system and the proof of reserve consensus mechanism, which set them apart from other exchanges. The booth’s design and technology received huge compliments, reinforcing EXOLO’s reputation for prioritizing security and transparency.

A Unified Vision for the Future

EXOLO’s consistent performance across these events highlights their unwavering dedication to security, innovation, and transparency. By implementing a robust 7-layer security system and adopting the proof of reserve consensus mechanism, EXOLO ensures a secure and transparent platform for all users. These features, combined with their regulatory compliance, make EXOLO one of the most trusted crypto exchanges in the market.

About EXOLO

EXOLO is at the forefront of the cryptocurrency exchange industry, offering one of the most secure trading platforms worldwide. With advanced security measures and a strong emphasis on transparency, EXOLO is dedicated to providing a safe and robust platform for digital currency transactions. For more information, visit EXOLO’s website.

By excelling at these landmark events, EXOLO has solidified its reputation as a leader in the cryptocurrency exchange space. Their commitment to innovation, security, and transparency continues to drive them forward, ensuring they remain at the cutting edge of the digital finance revolution.

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3000+ Attendees Hail Crypto Expo Dubai 2024 as a Resounding Success.

Crypto Chain Wire

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The highly anticipated Crypto Expo Dubai 2024 commenced with remarkable enthusiasm and energy, marking a successful event with more then 3000+ Attendees, 50+ Speaker, 50+ Sponsors. Industry leaders, innovators, and enthusiasts gathered at the event to explore the future of cryptocurrency and blockchain technology.

The Expo featured an array of influential speakers who shared their insights and visions, captivating the audience with their knowledge and experience. Notable speakers included:

  • Ahmed Elmetwally, CEO & General Director, Private Office of Sheikh Mohamed Bin Ahmed Bin Hamadan Al Nahyan, who delivered an inspiring keynote on the transformative power of blockchain in the UAE’s financial landscape.
  • Peter Peng, Founder & CEO of GPT Protocol, provided an engaging talk on the advancements in AI and blockchain integration.
  • Pekka Kelkka, Founder, web3 advisor, and educator at Papa Blockchain talked about in a panel Pushing the boundaries of Web 3 innovation – How to build a successful WEB3 brand – Digital Identity in Web 3.0: Privacy, Security, and Self-Sovereignty
  • Belal Jassoma, Director of Ecosystems at DMCC, discussed the pivotal role of Dubai in fostering a thriving crypto ecosystem.
  • Sasha Ivanov, Founder of Units Network, shared his vision for Re-staking and Endgame for Blockchain Scalability: extended consensus and proof of re-stake.
  • Arthur Azizov, CEO of B2Broker, highlighted the Revolutionizing Finance: The Power of Digital Assets in Brokerage
  • Serena Sebastiani, Director of Financial Services Advisory and Virtual Assets Consulting Lead at PwC Middle East provided expert insights discussed in a Panel about Blockchain Shaping the Future of Decentralized Technologies and Beyond.
  • Anton Patrynika, Founder of Haust, talked about DeFi Dilemmas: Navigating the Wild West of Decentralized Finance.
  • Myriam Ben Sayeh, Director of Product Management at Mastercard, discussed in a Panel about Blockchain Shaping the Future of Decentralized Technologies and Beyond.
  • Paul “The Profit” Dawalibi, CEO of Holodeck Ventures, captivated the audience with his strategies in a panel about Metaverse 2024: Forging the Route to a Novel Reality in Cultural and Entertainment Spheres
  • Max Lighter, General Manager MENA & CIS at XT.com, who delivered a keynote on Tokenization Revolution: Building Tomorrow’s Financial Landscape
  • Pratik Gauri, CEO of 5irechain, provided a visionary outlook on Blockchain for Sustainability: Exploring Decentralized Solutions in the Fifth Industrial Revolution

The exhibition floor buzzed with activity as attendees explored the latest innovations from leading exhibitors, including MULTIBNK, EXOLO, HASHAI, BST, and CRATD2C. These titans showcased cutting-edge technologies and solutions, further solidifying Crypto Expo Dubai as a premier event in the crypto space.

Highlights:

  • Inspiring Keynotes: Industry leaders presented groundbreaking ideas and future forecasts.
  • Innovative Exhibitions: Attendees engaged with the latest products and services transforming the crypto landscape.
  • Networking Opportunities: Professionals from around the world connected, fostering collaborations and partnerships.
  • Interactive Workshops: Participants gained hands-on experience and practical knowledge from experts in various fields.

George, chief operating officer at multibank.io commented, ” Our booth’s attracted substantial traffic despite the summer season, and the turnout has exceeded our expectations. This being our first expo, we’re eager to participate in future Crypto Expo Edition and see continued innovation in the expo experience.”

Bumi Kamesh Manchal, Head of Growth at EXOLO Commented “The organization of Crypto Expo Dubai 2024 was excellent. As a representative of Exolo, I had the opportunity to connect with fantastic people and potential partners. The event set a high standard for future expos, and we received an incredible response at our booth. I look forward to participating in future editions with my team.”

Charles Cieters, Co-Founder/Core BIZ ADV, CratD2C commented, we are very pleased with the event’s setup and the organization of our booth, which was exceptionally well managed. The management team was excellent, and we had great interactions with attendees. This being our second participation, we are definitely looking forward particate in future Crypto Expo editions.

Crypto Expo Dubai is a premier event that brings together the brightest minds and leading voices in the cryptocurrency and blockchain industries. Held annually in the vibrant city of Dubai, this expo serves as a global platform for industry professionals, investors, enthusiasts, and innovators to converge and discuss the latest trends, technologies, and developments in the crypto space.

For more information, visit https://cryptoexpodubai.com/ .

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