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Elastos Launches BPoS NFTs for Bitcoin-Secured ELA Staking, Expanding Incentives and Rewards for Users

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[PRESS RELEASE – Singapore, Asia, October 23rd, 2024]

  • Users can convert staked ELA and rewards into tradable NFTs, burn them anytime for Bitcoin-secured ELA APY rewards, and claim the staked ELA when the lock period ends.
  • Anyone can stake ELA with a validator and earn 2–3% APR, with higher rewards for longer lock periods.
  • Elastos continues to build momentum for a new decentralized finance model, offering flexible liquidity, Bitcoin-backed security, and simple wallet access.

Elastos, a SmartWeb ecosystem provider, has expanded incentives for crypto users and validators with the launch of Bonded Proof of Stake (BPoS) NFTs. This new system offers users liquidity for staked assets by converting ELA and accumulated rewards into tradable NFT receipts, without interrupting rewards or waiting for the lock period to end. Through the Essentials Wallet, users can stake Bitcoin-secured ELA with a validator to earn 2–3% APR, with higher rewards for longer lock periods.

Today’s announcement underscores Elastos’ commitment to delivering value across the Smart Web ecosystem. Users can easily stake ELA tokens with BPoS validators on the Elastos Mainchain using the Essentials Wallet and issue BPoS NFTs. These NFTs can be freely traded or transferred on the Elastos Smart Chain (ESC), offering liquidity without affecting the staking period. Market participants can acquire NFTs to gain access to Mainchain rewards and the underlying staked asset. While the staked ELA remains locked until the staking period ends, NFT holders can burn their NFTs anytime to claim accumulated APY rewards.

“We are committed to delivering technologies that will create long-term value for our users and the ecosystem,” said Jonathan Hargreaves, Head of Global Growth at Elastos. “We are now in a position to deliver the tools and architecture that enable users to trade Bitcoin-backed value through ELA on Elastos without unstaking the underlying asset. This unlocks new market opportunities and sets the stage for BPoS NFTs to be used as collateral in BeL2’s upcoming Arbiter network. Ultimately, we aim to build a new model for decentralized finance backed by Bitcoin security, and we are entering a phase where users will increasingly benefit from these innovations.”

Backed by Bitcoin Security

These NFTs represent receipts to claim ELA assets secured by Bitcoin’s hash power through Auxiliary Proof of Work (AuxPoW) and validators via the BPoS mechanism on the Elastos Mainchain. With 293.69 EH/s of Bitcoin’s total 580.74 EH/s hash rate, nearly half of Bitcoin’s security reinforces Elastos’ ELA, anchoring it in Bitcoin’s infrastructure without additional energy use and introducing new utility through mintable and burnable NFTs.

“With ELA’s fixed supply cap of 28.22 million, Bitcoin miner-shared security, and a 4-year halving cycle, ELA embodies Satoshi’s merge-mining BitDNS and Generalizing Bitcoin vision laid out on the Bitcoin forum in 2010,” added Sasha Mitchell, Head of BeL2. “Our roadmap continues to progress with the upcoming BeL2 arbiter network, which will support Native Bitcoin DeFi, allowing nodes to collateralize BPoS NFTs and unlock multiple revenue opportunities beyond ELA APY by supporting BTC-based services.”

Launching the BeL2 Arbiter Network

Elastos plans to launch the BeL2 arbiter network by the end of 2024. This network will allow BPoS NFTs to be used as collateral for supporting time-based transactions such as loans and stablecoin pegs, including dispute resolution services. Arbiter nodes using these NFTs will earn Bitcoin and ELA rewards without moving Bitcoin from the mainnet. This approach combines security, liquidity, and financial innovation, positioning Elastos as a key player in the evolution of blockchain-based finance.

About Elastos

Elastos is a public blockchain project that integrates blockchain technology with a suite of reimagined platform components to create a modern internet infrastructure that provides intrinsic protection for privacy and digital asset ownership. Its mission is to build accessible, open-source services that empower developers to create an internet where individuals own and control their data.

The Elastos SmartWeb platform allows organizations to recalibrate how the internet functions to better manage their data and privacy.

https://elastos.info

https://www.linkedin.com/company/elastosinfo/

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Bitcoin Enters New Volatile Range as Markets Continue to Struggle

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As the crypto market continues to struggle, bitcoin (BTC) has broken into a new volatile range. On March 10, the cryptocurrency fell below $80,000 and touched the $76,800 range before climbing back up to $81,000 at the time of writing.

According to the latest edition of the Bitfinex Alpha report, the cryptocurrency’s decline to $76,800 triggered massive losses in the market, with investors recording over $950 million in liquidations for both short and long positions.

Bitcoin in New Volatile Range

Bitfinex said its analysts expected a temporary upside move toward the previous range lows near $90,000 after BTC fell briefly below $80,000 in February. The expectations played out earlier last week, with the leading cryptocurrency reclaiming those levels before consolidating between $85,000 and $92,000 towards the weekend.

However, bitcoin’s volatility increased as the Crypto Summit at the White House approached. Bitfinex said this was fueled by speculation around the creation of a U.S. Strategic Crypto Reserve. By the way, around that time, President Donald Trump signed an executive order establishing the bitcoin reserve and a digital asset stockpile.

When news emerged on March 7, crypto prices rallied across the market. However, the gains were soon erased as investors understood that the order would not result in any immediate new buying of BTC or other cryptocurrencies. This, in addition to one of the largest Bitcoin and Ethereum options expiry event on the same day (up to $3 billion), triggered more short-term fluctuations, leaving investors in losses.

Market Stabilization on the Horizon?

Regardless of bitcoin’s negative price action, the leading cryptocurrency has been stable relative to altcoins. But market sentiment about the coin remains cautious, and liquidity conditions and macroeconomic uncertainty are playing key roles in the asset’s next move.

“The intense whipsaw in price action over the past two weeks has created turbulent market conditions and driven a surge in realized volatility for Bitcoin, particularly across shorter time frames,” the report stated.

On the other hand, the Bitcoin options market has reached some of the highest levels of realized volatility in this cycle, surpassing 80% for its one-week and two-week timeframes. This level of realized losses shows that many traders and short-term holders have been forced to exit their positions below their cost basis. This means they have sold their assets at a loss.

However, Bitfinex said such mass capitulation events often precede a phase of market stabilization because strong hands start accumulating as weak hands leave the market.

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Meme Index ICO Nears $4M With 20 Days Left – Next Meme Coin to Explode?

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Have you ever found yourself scrolling through X (Twitter) or Reddit, trying to spot the next big meme coin before it takes off?

You can ditch that approach thanks to Meme Index (MEMEX).

This project is transforming meme coin investing and has already raised nearly $4 million in ICO funding.

But with just 20 days left before the ICO ends, could MEMEX be the next crypto to explode?

What is Meme Index and How Does It Unlock Meme Coin Diversification?

So, what is Meme Index?

Instead of stressing over which meme coin to pick, Meme Index lets you diversify across the entire sector with curated “baskets.”

Think of these baskets as ETFs for meme coins, but more accessible and completely decentralized.

For example, say you’ve got $500 to invest but can’t decide between DOGE, SHIB, or PEPE.

Meme Index has you covered – with four different indexes, you can gain exposure to multiple coins at once.

There’s the Titan Index for the bigger coins, and the Moonshot Index for up-and-comers with potential.

The Midcap Index hits the sweet spot of established but still growing coins.

And for the truly risk-seeking investors, there’s the Frenzy Index – filled with low-cap plays that could produce explosive returns.

MEMEX token holders get to vote on which coins will be added to each index.

That means the developers aren’t calling the shots – a community of meme coin enthusiasts decides what’s hot and what’s not.

MEMEX Token Staking App and Analyst Backing Set Stage for Post-Listing Growth

But Meme Index isn’t just about index funds.

The project also has a staking app that’s up and running – even while the ICO is still live.

Right now, it offers yields of 573% per year, though they will decrease as more investors get involved.

Still, that hasn’t stopped investors from locking up 174 million MEMEX so far.

Meme Index’s ICO is crushing it, having already raised $3.9 million in funding.

With just 20 days left before MEMEX’s open market debut, FOMO is beginning to kick in, and investors are rushing to secure tokens for $0.0166883 each.

All the signs of a project gaining momentum are there – a growing Telegram presence and rankings on top sites like ICOBench.

Even popular YouTubers are taking notice.

Crypto expert Borch Crypto took a deep dive into the project last week and said it could “explode” after listing.

Meme Index Continues to Thrive Despite Meme Coin Market Chaos

Meme coins in general are taking a beating right now.

DOGE has dropped to $0.154, SHIB is sitting at $0.0000114, and SPX just took a 23% hit since yesterday.

The sector’s entire market cap has shrunk to $43 billion – a far cry from where it was in December.

Yet, Meme Index continues to pull in investors.

This early demand is mainly because Meme Index offers something different from most other meme coins.

It’s not just another dog or cat-themed token looking to pump and then dump – it has an actual use case.

Meme coins have always been unpredictable, but Meme Index’s index-based approach brings order to the chaos.

Instead of guessing which coin will explode next, investors can gain exposure to several at the same time.

For beginners, this could be extremely helpful.

Most beginners will suffer at least one painful loss when they first dive into the meme coin space.

But with Meme Index, they soften the blow by spreading their bets across multiple meme coins.

It’s a quick and easy way to diversify.

With millions already raised in its ICO and an exchange listing on the horizon, Meme Index might be one to keep an eye on.

Visit Meme Index ICO

Disclaimer: The above article is sponsored content; it’s written by a third party. CryptoPotato doesn’t endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company or project mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.

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Is it Time to Grab the Crypto Dip – RAD, ARKM and BTCBULL Outlook

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The crypto market is crashing right now – but is this the time to worry, or is it a golden opportunity?

Experienced traders know that deep in the red is where the best deals lie.

And with some experts still bullish on tokens like Arkham (ARKM) and BTC Bull Token (BTCBULL), those who act now could be rewarded when the market recovers.

Is the Crypto Market Crash a Golden Opportunity?

It’s a tough time to be a crypto investor.

Everyone is dumping risk assets, spooked by the latest tariff wars between the U.S., China, Mexico and Canada.

These economic tensions have triggered a domino effect – traditional markets are tanking, with the S&P 500 shedding $1.4 trillion yesterday and crypto stocks like MicroStrategy and Coinbase plunging double digits.

With over $700 million in liquidations, it’s no surprise Bitcoin and altcoins are struggling to find solid support.

The Crypto Fear and Greed Index has also fallen to a two-year low of 24, now in “Extreme Fear” territory.

But history shows that fear often creates opportunity – so is this dip a chance to get in before the next leg up?

Arkham Price Rallies 60% After Upbit Listing as Experts Back It for Further Gains

One altcoin that experts remain bullish on is Arkham.

This AI-powered blockchain analytics platform saw a strong boost today after ARKM was listed on Upbit, South Korea’s largest exchange, prompting a 60% price surge.

Although ARKM sold off a bit since then, holders are still optimistic about the token’s prospects.

Arkham’s core value lies in its ability to deanonymize blockchain transactions, making it a go-to tool for institutions tracking fraud and illicit activity.

Its “ULTRA AI” engine maps wallet addresses across multiple chains, while the Intel Exchange allows users to trade blockchain intelligence like stolen fund trails.

The platform has also caught attention with its influencer tracking feature – exposing discrepancies between what they promote and what they actually hold.

Popular trader Moon Whales on Twitter believes ARKM could be about to take off.

He tweeted earlier today that a “clean breakout” above the $0.70 level could extend the token’s rally.

BTC Bull Token Presale Nears $3.5M Mark – Could This be the Next Big Meme Coin?

BTC Bull Token is another coin that’s still doing well despite the market dip.

Built on Ethereum, this token is designed to reward holders with actual Bitcoin while using deflationary tokenomics to drive scarcity.

The project has raised almost $3.5 million in its presale, and with influencers like Danjo Capital Master backing it, the hype isn’t going away anytime soon.

BTCBULL’s reward system is its key selling point.

It’s tied directly to Bitcoin’s price milestones – holders get Bitcoin airdrops when BTC hits $150K, $200K, and beyond.

On top of that, the team will slash the token supply by 15% at key Bitcoin price levels, boosting BTCBULL’s value in the long run.

Throw in staking rewards estimated at 123% per year, and it’s easy to see why the project has gone viral.

None of this comes at the expense of safety, as Coinsult and SolidProof verified the project’s security through smart contract audits.

So, with strategic partnerships reportedly in the pipeline and a growing community, BTCBULL might be positioned to rally once the market picks back up.

Traders Predict Big Gains for Web3 Crypto Project Radworks

Alongside Arkham and BTC Bull Token, experts are also bullish on Radworks (RAD), a project that is shaping the future of decentralized software development.

Its censorship-resistant tools make it a key piece of Web3 infrastructure, and traders are beginning to take notice.

According to CryptOpus on Twitter, RAD looks like it’s about to break out of a falling wedge on the weekly chart – a classic bullish setup.

The token is already up 39% in the past day alone.

Radworks’ flagship tools, Radicle and Drips, are its main selling points, with over 1,200 projects funded since 2023.

As demand for these tools grows, we could see RAD rise in tandem.

In fact, spot trading volumes for RAD have rocketed 625% since yesterday, helping it rank on CoinMarketCap’s trending cryptos list.

That helps explain why Radworks could be the market’s next big mover if this momentum keeps up.

Disclaimer: The above article is sponsored content; it’s written by a third party. CryptoPotato doesn’t endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company or project mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.

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