Aevo Launches Novel Index Perpetual Contract

Korean crypto exchange Upbit adds one-second interval chartsSouth Korea’s largest cryptocurrency exchange, Upbit, now offers one-second interval charts for its users.Dunamu, the blockchain and fintech company behind Upbit, announced on Friday (local time) that it has introduced a one-second interval feature to Upbit’s “original” charts. This makes Upbit the first Korean cryptocurrency exchange to offer this functionality.Photo by m. on UnsplashResponding to user demandUpbit has rolled out this one-second interval feature in response to user demand. This addition facilitates a broader range of investment strategies, allowing Upbit users to fine-tune their decisions based on their investment preferences. Now, the time frames available on Upbit are 1 second, 1 minute, 3 minutes, 5 minutes, 10 minutes, 15 minutes, 30 minutes, 1 hour, 4 hours, 1 day, 1 week and 1 month.A representative from Upbit said that they have incorporated the one-second interval feature into their original charts to provide users with quick and easy access to virtual asset price information for their investments. The official added that the company will remain committed to fostering a user-friendly and comfortable trading environment.Available on both web and mobileUsers can access the one-second interval feature on both the web and app versions of Upbit. To utilize this feature, they can select the “1s” time frame on the original charts found under the “Exchange” tab of Upbit.

Korea’s DAXA Prohibits Relisting of Delisted Cryptos for a YearThe Digital Asset Exchange Alliance (DAXA) in Korea will prohibit the relisting of cryptocurrencies delisted from its member exchanges for a year, according to Korean media outlet Edaily.©Pexels/Jan van der WolfDAXA’s arbitrary regulationSome criticize this regulation, arbitrarily created by DAXA, which consists of five major Korean cryptocurrency exchanges (Upbit, Bithumb, Coinone, Korbit, and Gopax), as this rule poses a significant impact on crypto issuers and investors.In fact, a blockchain industry insider said that when cryptos are designated by DAXA as a risky asset, their operators receive a notification from the group that relisting is possible after a year once delisted. So far, assets that have been delisted or designated as such are WEMIX, PCI, BASIC, SRM, and OMG.Coinone’s relisting of WEMIXDAXA added this stipulation, as it faced criticism for the absence of relisting regulations in its guidelines when Coinone, one of its members, exclusively relisted the WEMIX token. This raised doubts about the self-regulation of the industry because DAXA had decided the delisting of WEMIX on the grounds that the information on its circulation supply was unreliable.Crypto enterprises are complaining about DAXA’s devising of strict penalties when delisting processes are not transparent. DAXA has stated that a consensus has been reached for the first draft and it will be continuously revised.Stronger DAXA presenceThe Korean crypto industry forecasts that this regulation will empower DAXA’s presence in the crypto scene, considering that its members are responsible for 98% of the domestic trading volume.Experts note that DAXA needs to establish fairness and transparency in order for it to gain trust as a self-regulatory body. Park Yong-beom, Chairman of the Korea Society of Blockchain, said rules on listing and delisting have to be fair and transparent, and if market participants find them unconvincing, it would undermine the credibility and authority of the self-regulatory body.In an interview with Economic Review, Former KB Kookmin Bank CEO Lee Kun-ho suggested that DAXA should prioritize market vitalization and ecosystem strengthening. He believes that instead of focusing on market management and supervision, DAXA should concentrate on enhancing investor protection.

SafePal Delves Into Korean Market Through Klaytn PartnershipThe Seychelles-based team behind non-custodial digital asset wallet provider, SafePal, has made its first attempt at conquering the Korean market through a partnership with South Korean enterprise blockchain, Klaytn.The collaboration will see the wallet provider support digital assets native to the Klaytn blockchain network. For Klaytn ecosystem users, it also means that they can access in excess of one hundred blockchains, which are already supported by SafePal’s non-custodial wallet. Both entities articulated their thoughts relative to the partnership, with SafePal doing so via a blog post published late last week. Meanwhile, the Klaytn project team expanded on the development in a post to its website on Tuesday.Photo by Mathew Schwartz on UnsplashKorean expansionKlaytn-native digital assets will be supported via SafePal’s mobile app, hardware wallet and its browser extension-based wallet. SafePal acknowledges the leading position that the Klaytn network takes in Korea, relative to the metaverse, blockchain gaming and other Web3 verticals. While SafePal already has 10 million users, this move demonstrates that it has plans on expanding that user-base to incorporate millions more, in this case Korea-based Klaytn network users.Alluding to that Korean expansion, Veronica Wong, Co-Founder and CEO of SafePal stated: “Klaytn is a leading blockchain in Korea for Web3 and DeFi, so this partnership made perfect sense, as we want users to access exciting opportunities in all established ecosystems globally.”Bringing Klaytn dApps to SafePal usersThe Klaytn project team is viewing the hook-up in the same manner. In its announcement it outlines that the collaboration can serve its purpose in “bringing in Klaytn’s next 10 million users with SafePal.” The partnership also serves to bring leading Klaytn dApps to that new user-base of 10 million. That includes on-chain instant swap protocol, Klayswap, blockchain play-to-earn game DeFi Kingdoms, Korean NFT marketplace Pala, leveraged yield farming project, Kleva Protocol and DEX aggregator Swapscanner.Conceived by the dominant messaging app provider in Korea, KAKAO, in 2018, the development of the Klaytn blockchain is now guided by the Klaytn Foundation. The project has set out a governance roadmap that will see the project achieve decentralization later this year.SafePal growth trajectorySafePal has been hitting its numbers when it comes to expanding its user base. Over the course of the past year, it has grown its user-base from 8 to 10 million. Its support for 100 blockchains results in overall support for in excess of 200,000 token types, including NFTs. That growth strategy belies further comments that Wong made relative to this latest collaboration:“While the self-custody offered by Web3 and DeFi is increasingly important amidst growing concerns about traditional financial systems, adoption is still hindered by language and geographical barriers. Klaytn is a leading blockchain in Korea for Web3 and DeFi, so this partnership made perfect sense, as we want users to access exciting opportunities in all established ecosystems globally.”With no let up in its growth strategy, SafePal followed up on Friday with an announcement that it had integrated the recently launched low latency, high throughput layer one SUI network and its native token, $SUI.