Lillius selected to join Cronos Accelerator Program

Korbit, Ewha-Chain Leverage NFTs to Promote Blockchain KnowledgeEwha-Chain, a blockchain study group at Ewha Womans University, recently tweeted that it has collaborated with Korbit, one of South Korea’s leading cryptocurrency exchanges, to hold an non-fungible token (NFT) airdrop event for college students, offering free ice cream as an incentive.Hands-on experienceThe event aims to introduce participants to the crypto exchange and provide hands-on experience with Web3 and blockchain technology, as well as showcasing the benefits of NFTs.To participate, students have to create a Korbit account using their email address and register for an Ice-Chain NFT by completing a Google Form. Korbit will distribute the NFTs on the afternoon of May 11, the day before the event.Free ice creamOn the day of the event, Ice-Chain NFT holders can visit the Ewha Womans University branch of the Ice Girl Cream Boy ice cream shop to spin a wheel and win either free ice cream or Korbit merchandise.According to Korean economic news media Paxetv, Kim Il-kwon, head of business development at Korbit, said that the Ice-Chain event strives to familiarize university students with blockchain technology and promote the Korbit brand. Kim added that Korbit is dedicated to ongoing cooperation with Ewha-Chain and expanding channels to engage with millennials and Generation Z.Photo by ROMAN ODINTSOV on Pexels

Stella Chan, the chief operating officer of Phemex, a crypto derivatives exchange with a presence in Turkey and Singapore, recently provided details of the company’s unveiling of its Lending Protocol and SocialFi initiative Pulse Season 3. In an interview with Cointelegraph, Chan outlined that since the founding of the firm in 2019, the company has been evolving and working towards carving out a niche for itself in the industry. The executive confirmed that the exchange business has reached a point where daily trading volume now exceeds $2 billion across more than 300 trading pairs. Pulse Season 3Chan is also the co-founder of Phemex’s Pulse, a social trading platform that rewards users while attempting to foster a community spirit within the crypto sphere. As part of Phemex events held at Token 2024 in Dubai last week, the company announced Pulse Season 3, a SocialFi mechanism to incentivize community engagement. The initiative introduces casting and tipping features. Casting is a means through which community members can post up content. Meanwhile, tipping serves as a method through which other community members can acknowledge and reward high-quality community member contributions. Through this initiative Phemex is hoping to deliver an enhanced experience where trading seamlessly intersects with trending topics and insightful content.Photo by Shubham Dhage on UnsplashPhemex Lending ProtocolAlongside Pulse Season 3, the company has also launched the Phemex Lending Protocol, a feature allowing users to borrow crypto at competitive rates while earning interest. As part of that offering, all loans are safeguarded through the collateralization of the user’s digital assets. With an initial liquidity allocation of $22 million, this protocol has been established with an eye towards empowering traders to amplify their capital without selling their assets, while aligning in a more general sense with the user’s overall trading needs. Phemex is attempting to spearhead the transition towards greater user autonomy without compromising security. The Phemex Lending Protocol is central to that effort, offering users competitive borrowing rates and opportunities for passive income generation.  Standing testament to that, the platform offers interest rates on USDT starting at 3.57%. For those that hold vePT, the wrapped version of the platform's native Phemex token (PT), an additional 30% discount on borrowing rates is being offered. vePT is destined to act as a token which confers voting authority in the not too distant future, relative to Phemex’s governing decentralized autonomous organization (DAO). The platform is further enabling capital efficiency from the service user’s perspective by applying very little restriction so that funds can be withdrawn and redeployed at will, with minimum delay. Coming off the back of these announcements during Token 2024, the company appears to be following through on that momentum. Taking to the X social media platform on April 25, Chan outlined details of a plethora of user experience (UX) upgrades relative to its Pulse offering. Future plansLooking ahead, Phemex envisages the offering of a broader range of products tailored to user needs. Plans for an automated market maker (AMM) protocol aim to provide users with passive earning opportunities by contributing to liquidity. Additionally, Phemex is exploring the development of an on-chain credit scoring mechanism, leveraging its soulbound digital identity token to enhance access to decentralized finance (DeFi).

UAE’s RAK DAO Partners with HBAR Foundation to Support Web3 StartupsRAK Digital Assets Oasis (RAK DAO), the world’s first free zone dedicated to digital and virtual asset companies located within the United Arab Emirates (UAE), has announced a collaboration with the HBAR Foundation which aims to provide growth and funding opportunities to members of the free zone.Leveraging blockchain technologyThe Cayman Islands-based HBAR Foundation, the project team behind the Hedera public ledger, will assist RAK DAO members in leveraging cutting-edge technologies, including blockchain, and building economies and applications on Hedera.In a joint statement released on Tuesday, the partners outlined the benefits of the collaboration, which include a grant program, financial backing processes, and specialized expert support in technology, marketing, and business development. They also aim to support the scaling of adoption and innovation of new ideas in the Web3 space.Photo by Mostafa Ashraf Mostafa on UnsplashRas Al Khaimah free zoneSheikh Mohammed bin Humaid Al Qasimi, Chairman of RAK Digital Assets Oasis, expressed his excitement about the partnership, stating: “Together, we are unlocking a world of new possibilities, empowering entrepreneurs, and propelling innovation forward. This collaboration is a testament to our shared commitment to driving sustainable growth and shaping a future where Ras Al Khaimah emerges as a global leader in the digital economy.”Ras Al Khaimah is the largest city within the Emirate of the same name. It’s the sixth largest city in the UAE and home to the RAK DAO free zone.In March, Ras Al Khaimah enacted a law to establish RAK Digital Assets Oasis, demonstrating its commitment to diversification, attracting new businesses, and positioning itself as a global tech center. The free zone is exclusively focused on digital and virtual asset companies operating in various sectors such as the metaverse, blockchain, utility tokens, virtual asset wallets, non-fungible tokens, decentralized autonomous organizations (DAOs), decentralized applications, and other Web3-related businesses.Various initiativesAs part of the collaboration, RAK Digital Assets Oasis and HBAR Foundation will undertake several initiatives, including start-up and scale-up pitching sessions, opportunities for partners and investors to connect, and exploration of joint projects such as venture studios or accelerators. Grantees of the HBAR Foundation will also benefit from discounted set-up and licensing packages to establish their presence within RAK Digital Assets Oasis.Shayne Higdon, CEO of HBAR Foundation, acknowledged the UAE’s reputation as a dynamic hub for Web3 innovation and its ability to attract global enterprises and top-tier talent. Higdon stated: “Through this exclusive relationship we are honored to provide grantees with greater access to the UAE while working together to establish RAK Digital Assets Oasis as a major hub for the Web3 and digital assets sector.”The UAE has been actively investing in its infrastructure and implementing policy reforms to attract more entrepreneurs and businesses, aiming to grow its non-oil sector. The country’s digital economy is projected to surpass $140 billion by 2031, up from nearly $38 billion at present, according to a report by the Dubai Chamber of Digital Economy in February.