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MRHB DeFi Closes Successful USD5.5M Fundraise with IDO and Announces 5 Million Pool of MRHB Token Rewards for Liquidity Providers | by Bit Media Buzz | Dec, 2021

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Melbourne, Australia, December 31st, 2021 — The world’s first ethical and halal DeFi ecosystem platform MRHB DeFi officially concluded its successful fundraising with its final public IDO rounds on DODO and ZeeDO launchpads, altogether raising a total of US$5.5 million with around 85% coming from a global community of investors looking for an ethical and halal entry into the cryptoverse.

Immediately following the close of the IDO, the MRHB token was listed on the popular DEX PancakeSwap, a leading decentralized exchange on Binance Smart Chain (BSC). For the very first time, early supporters of the project were able to trade and swap their MRHB tokens.

5 Million Pool of $MRHB Token Rewards for Liquidity Providers

Instead of standard buy/sell order books, Pancakeswap uses the Automated Market Maker (AMM) model where trades are done through a ‘Liquidity Pool’ whereby users invest funds (become Liquidity Providers or LP’s) to the pools to facilitate swaps.

MRHB DeFi has now announced that over the next three months, $MRHB token holders can become Liquidity Providers on PancakeSwap and earn their share of the pool of 5,000,000 MRHB token rewards.

The following MRHB/USDT liquidity pool has been set up on PancakeSwap, and MRHB Rewards will only apply to this pool:

Liquidity Providers to the pool can earn in two ways:

1. By supplying liquidity to the pool, the liquidity providers earn transaction fees on PancakeSwap as profit. The total trading profits made will be divided among the LPs, proportional to the amount of funds contributed and the amount of time funds are invested in the pool.

2. In addition, MRHB DeFi will offer a reward to the LP investors on condition that they invest funds into the pool at any point during the three month loyalty period. The $MRHB token reward pool will initially begin at 5,000,000 to be shared among the LP token holders. The number of tokens awarded will change over time but will be visible on the MRHB Reward Dashboard (https://rewards.mrhb.network/). Investors can withdraw their funds at any time.

As an extra incentive for LPs, MRHB DeFi has announced that LP’s who lock their tokens for the full 90 days in the pool will have the right to claim an NFT from the first collection at their Souq NFT marketplace. Souq NFT is the first anti-NSFW NFT marketplace in the world that is focussed on creating an ethical and halal marketplace for digital art and other NFT assets.

MRHB DeFi has provided more detailed instructions on how to be Liquidity Providers in the following videos:

A Conditional ‘Hibah’ Gift

The LP token rewards are defined as a conditional gift (‘hibah muallaqah bi al-sharth’) that is provided by a third party, permissible according to the Islamic Fiqh. Since there is no (bilateral) exchange contract or transaction between MRHB DeFi and LPs (liquidity providers), MRHB DeFi is considered a third party and is providing the rewards as a gesture of appreciation to their loyal supporters.

As the share of rewards depends on various factors such as the number of providers and amount of time invested, such LP rewards are not fixed, although they will be stated at the time the tokens are invested into the liquidity pool.

Such rewards must also be considered together with the price movements (Impermanent Loss) of the MRHB token to assess the overall return to the token holder should they withdraw their funds from the liquidity pool.

Reminder for Vigilance

The correct MRHB DeFi contract address for the $MRHB BEP20 Token is as follows:

https://bscscan.com/address/0xd10332818D6A9B4b84bf5d87DbF9D80012FDF913

MRHB token holders are reminded to be vigilant against scammers and fake addresses and should exercise caution whenever participating in transactions. Only the following official channels contain the most current and accurate information about the developments of $MRHB.

MRHB DeFi Official Channels

MRHB Reward Dashboard: https://rewards.mrhb.network

Website: https://marhabadefi.com

Twitter: https://twitter.com/marhabadefi

Telegram: https://t.me/mdf_official

Telegram Announcements: https://t.me/marhabadefi_ANN

YouTube: https://www.youtube.com/channel/UCHuvZG9DbS5ffeoqLX_bERg

Medium: https://medium.com/@mrhbdefi

LinkedIn: https://www.linkedin.com/company/marhabadefi

Facebook: https://www.facebook.com/MRHB-DeFi-105893235209147

Telegram (Arabic): https://t.me/mdf_arabic

Telegram (Russian): https://t.me/marhabadefi_russia

Telegram (Turkish): https://t.me/MarhabaDefiTR

Telegram (Persian): https://t.me/mrhbdefi_persian

Telegram (Urdu/Hindi): https://t.me/MRHBDeFi_Urdu_Hindi

About MRHB DeFi

MRHB DeFi is a halal, decentralized finance platform built to embody the true spirit of an “Ethical and Inclusive DeFi” by following faith-based financial and business principles, where all excluded communities can benefit from the full empowerment potential of DeFi.

The diverse team comprises researchers, technocrats, influencers, Islamic fintech experts & business entrepreneurs, who came together to ensure that MRHB DeFi prevails in a manner that will impact society as a whole, essentially bridging the gap between the faith-conscious communities and the blockchain world.

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December 31, 2021
Mintverse Closes Successful Seed Round of $1.5M | by Bit Media Buzz | Nov, 2021

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PRESS RELEASE. Dubai, UAE, 5th November 2021 — Mintverse, a new and improved NFT service platform, closes their seed round raising $1.5 million from private investors. Led by A&T capital, and other large investment firms including Mirana Ventures, Longling Capital, Genesis Block Ventures, FBG, Fenbushi Capital, Cipholio Ventures, Nebulas, Ceras Ventures, NDG and other individual angel investors, Mintverse aims to be a community-based initiative to provide products and services that explore future use cases of NFTs.

It is expected to feature a completely decentralized service platform and incubator for more than just NFT based projects. Mintverse will use the funds raised to further develop the existing platform and release future product offerings to tackle the current problems faced within the industry.

Mintverse founder was thrilled by the response from the large list of investors and said, “The support we have gained during this round of fundraising has been astounding and we look forward to continuing our progress in order to better the NFT ecosystem.”

Mintverse is looking to provide their services through a variety of different product offerings, tapping into the world of NFTs. At the initial launch of the platform, the Mintverse team will start by leveraging the power of NFT marketplaces and enter the world of GameFi.

Empowering both the Ethereum network and Binance Smart Chain, the service platform will be able to engage with the masses of NFT creators, collectors and GameFi projects. According to the roadmap, Mintverse will eventually tap into further comprehensive product offerings including the anticipated launchpad feature, giving not only NFT and crypto projects but also sole NFT creators who struggle with the lack of monetary incentives in the industry, the opportunity to raise funds.

Private investors have expressed their approval for the first round of fundraising. Jasmine Zhang from A&T Capital was thrilled about their investment into Mintverse and stated, “With the ever growing NFT ecosystem, there are visible gaps in the industry. During my conversation with the founder of Mintverse, we saw their project vision and the current glaring problems they are working towards solving. The NFT market has a long way to go in terms of growth and creating a better understanding for those who are still unsure of its potential and are skeptical of what is to come. At A&T Capital, we believe these issues will slowly start to diminish with a platform like Mintverse and are delighted to be a part of this journey.”

About Mintverse

Mintverse is a service platform, where users can create, discover and collect an array of digital items and NFTs while also being able to crowdfund NFT art, crypto & NFT projects. Mintverse is working towards its vision of mass NFT adoption while further developing existing use cases and exploring future use cases of the NFT data structure. Backed by major investors and partners, Mintverse has the resources to develop the growth of the NFT community by tackling the current existing problems such as high gas fees, lack of monetary incentives for creators, and insufficient utility for current NFT assets. They are able to do this by implementing a variety of product offerings including, but not limited to, NFT marketplace, gaming incubation, launchpad, governance DAO and more.

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November 11, 2021
India-based crypto exchange CoinDCX closes $90M in Series C funding

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CoinDCX, an India-based crypto exchange, has announced the closing of a $90 million Series C round.

The funding was led by B Capital Group (founded by former Facebook co-founder Eduardo Saverin); plus returning investors Coinbase Ventures, Polychain Capital, Block.one, and Jump Capital among others.

Funding Development

With the funding, CoinDCX will pursue new business initiatives, enhance its product offering, improve technology infrastructure, and expand its workforce.

Other notable plans for CoinDCX include partnerships to expand its user-base, setting up a research and development (R&D) facility, strengthening policy conversations through public discourse, and collaboration with the government to introduce favorable regulations and education support programs.

“With the support of the largest institutional backers in both the traditional and digital asset spaces; we will double down on our efforts to build the next generation of products with cutting edge innovation, improve our existing product array, and strengthen our exchange infrastructure and product team.”
– Sumit Gupta, Co-Founder & CEO CoinDCX

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August 10, 2021
AXS price gains over 16% as Axie Infinity closes in on 1M daily active users
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The price of Axie Infinity’s native token AXS surged on Wednesday despite a lackluster upward momentum elsewhere in the cryptocurrency market.

The AXS/USD pair rose to as much as $44.96 following a 16.44% intraday jump. Nonetheless, the strong upside move came as a part of a sideways trend that saw AXS fluctuating inside the $36.48-$56.57 price range, hinting that traders placed speculative upside bets on the token.

AXS trades near its all-time high. Source: TradingView.com

Axie ecosystem swells

Axie Infinity’s growth as a gaming project provided bullish cues to speculators. Data provided by Axie World showed that Axie Infinity earned $196.89M in July 2021. Meanwhile, so far in August, the project has raked in circa $45M in revenue, with almost 1 million active users.

“The interplay between Axie’s revenues and AXS price is noticeable,” wrote Jeremy Ong and Jayden Andrew, analysts at crypto-focused research firm Delphi Digital.

“This makes sense given the majority of revenues come from Axie breeding fees paid in AXS to the treasury, which significantly decreases the circulating supply of AXS — causing a supply-side squeeze.”

Axie Infinity revenue per month. Source: Axie World

In detail, Axie Infinity is a play-to-earn metaverse powered by the Ethereum blockchain. The gaming project enables players to breed, raise, and trade digital pets called Axies. That makes Axie Infinity a blockchain-powered version of the popular Pokemon game.

Meanwhile, AXS acts as a default currency of the Axie Infinity ecosystem that players use to buy and sell Axies and pay trading fees. AXS also operates as a governance token, allowing Axie Infinity players to vote on proposed upgrades.

AXS holders also receive a 95% of the total Axie Infinity revenue.

The economic prospects have so far boosted AXS demand among traders. Data intelligence firm IntoTheBlock noted that the number of Axie Infinity token holders grew by 400% since November 2020—from zero to 16.73K addresses.

Only 1% of the addresses holding AXS have made losses. Source: IntoTheBlock

Currently, more than 93% of wallets holding AXS are in a state of profit.

Technical setup

As stated, the AXS/USD exchange rate looks rangebound between two levels, with $56.57 acting as interim resistance and $36.48 as a temporary support. As a result, traders increased their upside bets on a rebound from $56.57 and go similarly bearish when the price hits $36.48.

Addition support for AXS comes in the form of its 20-day exponential moving average (20-day EMA; the green wave in the chart below) near $35.10.

Axie Infinity’s AXS holds above a strong support confluence. Source: TradingView.com

As of late, AXS corrects lower specifically after its daily relative strength index breaks above 70—an overbought area. Therefore, buying the AXS top, especially when the area above remains unchartered territory for the token, carries additional downside risks.

Related: Axie Infinity refreshes record high as AXS ascends 131% in just 3 days

Nonetheless, if AXS/USD breaks above the $5.67-resistance level, its next profit target appears to sit near $76.65. Conversely, breaking below the support confluence near $36 risks crashing the pair to the next line of defense at $24.07, a drop of 33%.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.