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Tag: Wrapped

  • Function X (FX) and Wrapped Centrifuge (WCFG) are now available on Coinbase

    Function X (FX) and Wrapped Centrifuge (WCFG) are now available on Coinbase

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    Starting today, Function X (FX) and Wrapped Centrifuge (WCFG) are available on Coinbase.com and in the Coinbase Android and iOS apps. Coinbase customers can now trade, send, receive, or store FX and WCFG in most Coinbase-supported regions, with certain exceptions indicated in each asset page here. Trading for these assets is also supported on Coinbase Pro.

    Function X (FX) is an Ethereum token that powers Function X, which comprises a core blockchain, cross-chain protocol, and platform for decentralized applications. FX can be used to pay for services such as smart contract creation and data storage, to vote for network upgrades, and for staking on the network.

    Wrapped Centrifuge (WCFG) is an Ethereum token that’s intended to represent Centrifuge (CFG) on the Ethereum blockchain. WCFG is not CFG, but rather a separate ERC-20 token that’s designed to track CFG’s price. CFG is the native asset of the Polkadot-based Centrifuge Chain and can be used for staking and on-chain governance.

    One of the most common requests we hear from customers is to be able to buy and sell more cryptocurrencies on Coinbase. We announced a process for listing assets, designed in part to accelerate the addition of more cryptocurrencies. We are also investing in new tools to help people understand and explore cryptocurrencies. We launched informational asset pages (see FX and WCFG), as well as a new section of the Coinbase website to answer common questions about crypto.

    Customers can sign up for a Coinbase account here to buy, sell, convert, send, receive, or store e Coinbase Android and iOS apps. Coinbase customers can now trade, send, receive, or store FX and WCFG today.

    Please note: Coinbase Ventures may be an investor in the crypto projects mentioned here, and additionally, Coinbase may hold such tokens on its balance sheet for operational purposes. A list of Coinbase Ventures investments is available at https://ventures.coinbase.com/. Coinbase intends to maintain its investment in these entities for the foreseeable future and maintains internal policies that address the timing of permissible disposition of any related digital assets, if applicable. All assets, regardless of whether Coinbase Ventures holds an investor or Coinbase holds for operational purposes, are subject to the same strict review guidelines and review process.

    This website contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of Coinbase, Inc., and its affiliates (“Coinbase”), and Coinbase is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. Coinbase is not responsible for webcasting or any other form of transmission received from any Third-Party Site. Coinbase is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by Coinbase of the site or any association with its operators.

    Crypto is a new type of asset. Besides potential day to day or hour to hour volatility, each crypto asset has unique features. Make sure you research and understand individual assets before you transact.

    All images provided herein are by Coinbase.

    Function X (FX) and Wrapped Centrifuge (WCFG) are now available on Coinbase was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

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  • Liti Capital’s Wrapped LITI (wLITI) lists on Bitcoin.com Exchange | by Bit Media Buzz | Aug, 2021

    Liti Capital’s Wrapped LITI (wLITI) lists on Bitcoin.com Exchange | by Bit Media Buzz | Aug, 2021

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    Bit Media Buzz
    Liti Capital is now trading on Bitcoin.com Exchange

    Geneva, Switzerland, August 24, 2021 — Liti Capital’s wLITI token, a wrapped version of the Swiss company’s LITI equity token, has been listed on the Bitcoin.com Exchange on 24 August at 10:00AM UTC. wLITI is trading with BTC and USDT pairs.

    Liti Capital, a Swiss-based blockchain private equity fund specializing in raising capital for legal cases, is making waves in traditional investing by bringing litigation financing to the masses, an investment practice traditionally monopolized by hedge fund heavyweights and elite investors.

    Just last week, 19 August 2021, Liti Capital announced that it was funding a claim (www.binanceclaim.com) against Binance, which would enable affected individuals to pursue claims, including, if necessary, in arbitration, for compensation in relation to the exchange failing on 19 May 2021. This failure resulted in the trading accounts (including Futures, Margin, and Leveraged Token products) of at least 700 and potentially thousands of individuals being effectively untradeable for hours, causing traders to suffer losses that could exceed one hundred million dollars.

    Litigation financing is the practice of bringing in investors to cover the cost of a lawsuit or arbitration in exchange for a portion of the profit. Litigation financing specialists, such as Liti Capital, purchase litigation assets for cases they deem to have a high chance of winning.

    While litigation financing often requires an initial investment of $500,000 to $1 million from an investor, Liti Capital makes it accessible for anyone with as little as $50. It does this by tokenizing shares in Liti Capital and paying out dividends to Liti Capital (LITI) equity token holders when a case in Liti Capital’s portfolio is won.

    Liti Capital has already secured a healthy case portfolio with its largest case potentially worth more than $1 billion when it finally settles. Cases like these, which tend to be commercial rather than consumer or personal lawsuits, usually target large-scale corporate disputes valued at more than $10 million. While they could take years before a settlement is reached, successful litigation funders can expect to pocket between three and five times their initial investments, according to estimates by litigation finance expert Steven Friel.

    wLITI is an ERC-20 token that is the wrapped version of the LITI equity token. Launched on June 29, 2021, the wLITI token is suitable for trading on exchanges such as Bitcoin.com, whereas the LITI token is only available through liticapital.com after meeting KYC requirements. Liti Capital uses the blockchain to manage its share registry. Development of its own blockchain-based case management tools is on its roadmap.

    Switzerland-based Liti Capital creates wLITI at a LITI token buyer’s request via Liti Capital’s app or website, which converts the LITI to wLITI at a 1:5000 ratio. The tokens will always maintain this ratio. The buyer is then able to trade their wLITI freely. Liti Capital does not directly sell wLITI.

    LITI is a true digital share of Liti Capital that has voting rights, pays dividends and is protected under Swiss law. LITI is purposely not designed to be on exchanges at this time.

    Both tokens represent Liti Capital, whose mantra is “private equity for all.” Liti Capital works exclusively in a single form of private equity — Litigation Finance, also called third party funding. This asset class has remained almost entirely exclusive to hedge funds and venture capitalists since its inception several decades ago. Litigation Finance is the practice of financing all or part of a legal case on behalf of a plaintiff for an agreed upon percentage of the court award.

    Once Liti Capital purchases a portion of ownership of a case, it provides capital that can be used in many ways: legal fees, case management and strategy, expert witnesses, intelligence work and whatever else is needed to give the plaintiff the best chance of winning the case and collecting the award. The portion owned by Liti Capital becomes a “litigation asset” that backs the LITI token.

    Danish Chaudhry, CEO of Bitcoin.com Exchange, shared his views on wLiti’s listing, saying,“The Liti Capital team are providing an equity token which is the first of its kind, focused around easy-to-access private equity investment opportunities for basically anyone with the help of blockchain technology.”

    Chaudhry continues on by saying: “We’re very excited to see how Liti Capital will continue to empower their vision, and gain further outreach with our outstanding community at the exchange.”

    Jonas Rey, CEO of Liti Capital, said, “Listing on Bitcoin.com Exchange is an excellent opportunity for us, and a milestone we are proud of. We have full confidence that once the public discovers just how valuable the litigation assets we are able to purchase on behalf of LITI investors are and how powerful blockchain-backed private equity trading can be, that wLITI will become a very popular token indeed.”

    Listing details

    Trading Opening: Aug. 24, 2021, 10:00AM UTC

    Deposit Opening: Aug 24, 2021, 09;00AM UTC

    Trading Pairs: wLITI/BTC

    wLITI/USDT

    About Liti Capital

    Switzerland-based Liti Capital is a Swiss limited liability company specializing in litigation finance and fintech. Liti Capital buys litigation assets to fund lawsuits and provides a complete strategic solution along with connections to top law firms to help clients win their cases. Tokenized shares of the company lower the barrier of entry for retail investors and give token holders a vote in the company’s decision-making process. Dividends are distributed to LITI token holders upon the success of the plaintiff. Jonas Rey, co-founder of Liti Capital, also heads Athena Intelligence, one of the most successful intelligence agencies in Switzerland. His two co-founders, Andy Christen and Jaime Delgado, bring operational, innovation and technical skills to round out the leadership team.

    Liti Capital recently onboarded seasoned industry leader David Kay as chief information officer and executive chairman. Boasting more than a decade of experience as funding partner and portfolio manager of a billion-dollar private equity fund in the litigation financing space, Kay successfully enforced what was at the time the largest international arbitration award in history, bringing in over $1 billion in cash and securities.

    About Bitcoin.com Exchange

    The mission of Bitcoin.com Exchange is to empower people from all over the world to trade cryptocurrencies with ease and confidence, from first-time traders to advanced trading professionals. With high liquidity, 24/7 multilingual support and dozens of trading pairs, complemented with a high level of security, we offer an attractive platform for trading any cryptocurrency. Within one year since launch, on average, the exchange has been visited by more than 500K active traders per month, and this number continues to grow by the minute.

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