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USTX WARP: how to bend space and time to offer 30% APR on USDD staking!

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DeFi is a word that means financial freedom, but most users think it’s too difficult and risky. USTX Team ultimate goal is to simplify user access to DeFi and provide solutions to give users new opportunities. We now present WARP, a DeFi app within the USTX ecosystem that allows the users to stake USDD and get 30%+ APR with low risk and easy access.

Background

During the last months the DeFi space took some serious hits, beginning with Luna-UST crash and the following down-trend of the market. In the middle of this crisis, TronDAO launched USDD, a very ambitious project to give added value to users via a decentralized, over-collateralized, algorithmic stablecoin promising very interesting yield rates (up to 30%). Everything looks good now with USDD, it ticks all boxes: it’s decentralized, over-collateralized with great APY. But is it enough for users to jump on board?Let’s look at the last part, the promised high yield, up to 30%. How easy is to get that APY? Where is it available? After a quick search everyone can see that 30% is available only on CEX, which is not great for a stablecoin that has the word “decentralized” in its name. So, what about DeFi yields? The 30% APY is not available on DeFi, unless you chose to farm the USDD/TRX LP, which exposes your capital to TRX price fluctuation.

So we did some research and tried to find a way to offer Tron and USTX users the best USDD DeFi APY and the simplest way to access it. We worked the math, coded the smart contracts, tested them and now we present WARP, our way to simplify USDD yield harvesting.

The app

WARP implements a pseudo delta netral farming strategy on the USDD/TRX liquidity pool on SunSwap. This allow to get the best APR on the market and reducing the risk associated to TRX price variations. The user can stake USDD and get weekly USDD rewards using a simple interface.!

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USTX WARP: how to bend space and time to offer 30% APR on USDD staking! 2

What is the role of USTX in all this? WARP will merge in the USTX ecosystem in two ways: to generate more buyback and to increase the APR for USTX holders.The WARP app will distribute weekly rewards to users, but a part of the raw APR will be routed to USTX buyback and increase token price and the staking rewards sustainability.To incentive WARP users to also buy and stake USTX tokens, they will benefit from a multiplying factor over the base APR, called Warp Factor.

The user warp factor is determined by the amount of USTX the users holds in any of the locked staking options that USTX offers. Maximum warp is obtained when 20 USTX are held for every USDD deposited, that corresponds to a 50% increase over the base APR.So, making the best use of Tron USDD DeFi options, we’re able to maximize the user rewards and simplify the overall experience at the same time. Warp users will get over 30% APR, while normal deposits still get 20% APR (these APRs will change over time and will depend on Sun.io and JustLend conditions).

What are the conditions to use WARP

  • Interface: web app accessible via browser (pc, mac, mobile)
  • Wallet: Tronlink, Math and Klever
  • Deposit token: USDD TRC20
  • Rewards token: USDD TRC20
  • Deposit lock: 1 full epoch (epochs duration is 1 week, changes every Saturday)
  • Rewards lock: till next epoch transition (unlock on Saturday after the request)
  • Rewards compounding: yes, manual compounding available
  • Max Warp factor: 5.0 (+50%) if user has at least 20 USTX in locked staking every USDD deposited
  • Fees: app requires energy to operate, a portion of the rewards will be used for buyback and reserve (max 25%), balance withdraw is not taxed unless the equity ratio is below 100%. This can happen after significant changes in TRX price, but recovers naturally within a few days. The team will create a reserve in the contract to avoid equity ratio < 100%.
  • Custody: the deposits are fully managed within the contract, they will NOT be moved to team wallets. The smart contract handles all the interactions with JustLend, SunSwap, Sun.io and all other contracts required to manage the strategy.
  • Management: the team will monitor the equity level continuously and weekly will re-balance the strategy, to make sure that it stays close to neutrality.
  • APR: Warp yield will vary over time and will depend on Sun.io and JustLend conditions. The team will make sure the contract parameters are always optimized for the best yield and lowest risk.
  • Anti-whale: There is a limit on how much a single user can deposit. Currently is 15,000 USDD but it will be increased to 25,000 USDD.

Risks

As always, we want informed users, so here’s the risks associated with Warp:

  • smart contract risk: we carefully designed and tested the contracts on Nile and mainnet, but human error can never be excluded 100%;
  • capital risk: in case of TRX price variations, the value of the underlying assets (deposits, borrows and LP value) can go below 100%. The team will make sure that over time and adequate reserve will be created to handle these events;
  • liquidation risk: TRX is borrowed from JustLend against USDD deposits. The strategy is balanced so that if TRX price increases up to 85% there is no liquidation risk. The team will monitor the margin and act to re-balance the strategy in case of significant variation from nominal;
  • USDD price risk: the contract works with USDD, so all values are relative to USDD. If USDD price is reduced from nominal (1$), the same will happen to the deposit value. This risk is NOT strictly related to Warp, but is present every time the user holds USDD (or any other token).

This is not financial advice, DYOR.

Contacts

🌐 WEB: https://ustx.io/
🚀 DEX: dex.ustx.io
🚀 WARP: dex.ustx.io/warp.html
✉️ Mail: info@ustx.io
🌍 Twitter: http://twitter.com/USTX6
🇺🇸 Telegram (International): http://t.me/ustx_en
🇮🇹 Telegram ITA: http://t.me/ustx_it
🌍 Github: https://github.com/ustx/ustx-dex
🌍 Reddit: https://www.reddit.com/r/USTX/
🌍 Youtube: https://www.youtube.com/channel/USTX
🌍 Medium: https://medium.com/@USTX
🌍 Linkedin: https://www.linkedin.com/company/ustx
🌍 Facebook: https://www.facebook.com/groups/ustxcrypto
🌍 Discord: https://discord.gg/2stXZjtv9A

Is Cardano Being “Aggressively Priced” An Understatement?

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Among the growing ecosystems, Cardano has priced more aggressively, on-chain analytics dashboard Messari tweeted. The upcoming Vasil hard fork is slated to bring significant improvements to Cardano, specifically higher throughput and smart contract enhancements.

Under the report titled “Non-EVM chains in the bear market”, Messari wrote Cardano was priced aggressively compared to its adoption metrics.” For the blockchain, development activity remains key.

In the chart highlighted in red, Messari observed that the PoS blockchain was way ahead of its competitors like Solana [SOL], Tezos [XTZ], Algorand [ALGO], and Neo [NEO]. ADA’s transaction and Total Value locked [TVL] multiple stood at 240 and 127.

For those new to the market, Transaction multiples are a type of valuation metric that plays a key role, as they make the investor aware of the value of a particular kind of asset or firm based on recent trends.

Cardano scoring high in the category could imply being”overvalued” here.

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Is Cardano Being "Aggressively Priced” An Understatement? 4

Peter Mauric who is a top exec at Parity Tech, a blockchain infrastructure builder reacted to the report by saying “Aggressively priced” is an understatement. “It should have about the same or lower market cap as MoonbeamNetwork. And it won’t keep up with moonbeam’s tech roadmap long-term [or short-term or medium to term]”.

In response to that, the community-focused Twitter account, ADA Whale commented, “For all of what’s coming, Cardano is an absolute bargain. No idea what Moon Beamer is.”

“Cardano is Fairly Priced”

He also believed the metrics used by Messari were outdated in reference to the chart provided in the report, “Convinced that applying these sorts of traditional multiples — especially when based on inaccurate or flawed metrics — will mean that you continue to not get what drives value in crypto.”

Refuting claims of Cardano being either overvalued or undervalued, ADA whale stressed that the blockchain, in fact, has a fair value,” ADA has fallen back to a perfectly neutral valuation.”

The popular influencer then went on to add that TVL figures are fake and are pumped by VCs. “Look at a crypto valuation in two stages. In the early years [now-2025?] it’ll mostly be about network growth. Beyond that, valuation likely matures to other frameworks. IMO blindly focusing on TVL etc metrics missed the point.”

Cardano’s Buying Activity Shoot Up Due To These Possible Reasons

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Cardano’s purchase activity has registered an uptick for a brief period of time, as noted by a Twitter user called “Pete”. Illustrating his point through a coinmarketcap chart, the user tweeted, “Someone is buying up. Just watch out for those corrections.”

He then wondered if those buyers are up for the long term or simply there for profit making- dumping them right after the Vasil upgrade.

On the other hand, the PoS blockchain’s Total Active Users count says otherwise as Cardano holders hit their 12-month low this week.

Data from the Messari chart revealed that the total active users on a daily basis slid from 234k in January to a mere 65k at press time.

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Cardano's Buying Activity Shoot Up Due To These Possible Reasons 6

Despite that, ADA continues to be in favor among the top 4,000 BSC whales, per data tracker WhaleStats. Here too the motives remain unknown.

Cardano also tapped a 268% year-to-date [YTD] surge in on-chain volume and a 16% increase on a month-on-month [MoM] basis data from Kraken Intelligence showed.

Kraken experts cited the launch of the network’s first decentralized exchange [DEX] SundaeSwap and metaverse gaming app Pavia as the reason behind the growth spurt.

Besides that, its developers have increased the programmable blockchain’s block size by 10% as projects on the ecosystem exceeded 1,000.

Kraken Intelligence also highlighted the euphoria surrounding the upcoming Vasil hard fork in ADA’s on-chain transfer volume growth.

The much-awaited hard fork remains one of the most talked about updates to date as it is touted to bring significant improvements to Cardano and its Plutus smart contracts.

Cardano Community Reacts To Mark Cuban’s Claims

In another news, Billionaire Mark Cuban made a stunning claim that Dogecoin has greater utility than Cardano in an interview, “I still think Doge has more applications available to it than ADA.”

Cardano’s founder Charles Hoskinson reacted by posting a “wave aside” GIF image in response to the remarks. Community-focused Twitter account, ADA Whale, too chimed in by saying it “was a factually wrong statement”

Earlier, Hoskinson emphasized the timing factor after a user criticized ADA’s price. Could these mysterious buying spikes anywhere be related to what Hoskinson envisaged? Only Time has the answer.

Cardano Founder Corrected User On ADA’s Worth

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Cardano founder Charles Hoskinson is known for many straightforward replies. This time too he maintained his composure while answering a user’s concern who took to Twitter saying he found his $5k worth of ADA bought in July ‘22 to be now worth only $1.5k.

In response, Hoskinson tweeted that $5,000 worth of ADA purchased in January 2021 would be now valued at $6,750, an $1,750 increase.

Sounding slightly annoyed, the founder commented, “What’s your point? Markets go up and down and I somehow have control of it? I don’t think you understand how crypto works and why it exists.”

At the time of writing this post, Cardano’s native token ADA was trading at $0.51. The 8th-ranked asset is up by 1.35% in the last 24 hours.

Previously, Hoskinson defended ADA’s price downtrend as the effect of a broader market phenomenon. After entering the bearish market conditions from the beginning of 2022, ADA had a lackluster performance this year after posting massive gains in 2021.

Cardano Influencer Double Down On The PoS Blockchain

It is now down by over 80% compared to the all-time high it attained in early September 2021 before the much-hyped Alonzo upgrade.

In addition to that, recently a well-known Cardano influencer spoke on how the Proof-of-stake blockchain has all the potential of becoming “bigger” than “anything seen in crypto before” if decentralized governance on the cryptocurrency’s network works out.

In a tweet shared with its 110k followers, the pseudonymous supporter who goes by the name of “ADA whale” shared that Cardano may be more secure and decentralized than other blockchains, but noted that the average user “doesn’t always get this.”

According to ADA whale’s words, if decentralized governance under the Voltaire era works out, the network “will be unlike anything seen in crypto before.”

The Voltaire era of Cardano, as per the project’s roadmap, provides the “final pieces required for the Cardano network to become a self-sustaining system.” It will bring along the system of voting and a treasury, which will allow network participants to stake their ADA and exercise voting rights to influence the future development of Cardano.


Ripple Exec- XRP Was Created As A “Better Bitcoin”

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A former top exec at Ripple, Matt Hamilton stated that the XRP token is still in the top 5 because it works 100% and challenged Bitcoin fanatics to transact BTC on the XRP Ledger.

If you say so. Even by your own admission it only works 95% of the time. Why do you think the XRP Ledger is so popular and XRP is still in the top 5? Because *it works*. No drama. No big issues that need fixing. It just works. Boring as hell. And that is *good*.

Hamilton who worked as a Principal Developer Advocate at blockchain firm Ripple was locked in a debate with a critic arguing the use cases of XRP. The user defended Bitcoin and its layer-2 scaling solution, the Lightning Network, over the XRP Ledger.

Another Bitcoin supporter claimed that very few would own XRP due to being unregistered security. To which Hamilton responded that XRP’s use cases are peer-to-peer payments as it was created as a “better Bitcoin.”

The critic again stressed that with Bitcoin “money is solved” due to the advent of Lightning network which he claimed as “decentralized bitcoin payments for no cost, hard to improve on that.” Hamilton then highlighted a failed transaction on the L N over what he said was a “lack of inbound liquidity.”

“No, it failed due to a lack of inbound liquidity. That is literally what the message is saying. This is the fundamental architectural flaw of LN. You have to hope there is enough liquidity on your payment route.”

Another user replied to Hamilton arguing that the payment had failed because it was for a transaction that had already been paid.

Hamilton continued, while the Lightning Network “only works 95% of the time” the XRP Ledger “just works.”

Over 516M XRPs Moved by Ripple and Other Exchanges

Just a few days back, data from Whale Alert noted that a half billion XRP were being moved on the market in large lumps by Ripple and other top-tier exchanges. Whale Alert identified several consecutive transactions, carrying between 30 million to 200 million XRP tokens. The transfers were conducted over a period of 24 hours.

Does Cardano Overtly Focus On Theory And Ignore Utility?

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Cardano [ADA] has gained a reputation for having one of the most educated & strongest communities. But it has also invited criticisms for being “too much talk and not enough action.”

Bill Barhydt, CEO of Abra, infamously called Cardano a “Ph.D. graveyard” in an interview. But recently the CEO had a change of heart and expressed regret over his previous statements about the developer community.

Another criticism was that the asset often gets eclipsed by its bigger rivals- Bitcoin [BTC] and Ethereum [ETH]. However, a Cardano community-focused Twitter account, which goes by the name of ADA Whale weighed in the reason for ADA’s seeming lack of acceptance by the larger crypto community.

He says that “Cardano remains a major crypto culture, aiming to build out its own version of what a crypto should be”.

“Cardano Has The Most Educated & Strongest Community”

According to ADA whale, “The reasons why the blockchain often gets excluded are complex.” He continues that this “exclusion” is in fact making it more stronger and self-sufficient, “Now ADA can do everything others can, has superior stability/security, PoS long before Eth, perhaps most educated & strongest community.”

Not so long ago, Cardano founder, Charles Hoskinson, tweeted, “Sometimes you just have to let people build beautiful things regardless of how long it takes.” Many in the community assumed that Hoskinson was probably referring to the planned network upgrade that got delayed.

The hard fork currently running on a testnet since July 4 has been pushed back by at least “a few more weeks” until testing is complete, developers said.

Cardano’s Vasil Update- What to Expect?

As reported by TronWeekly, Kevin Hammond, IOG’s Technical Manager, hinted that there could be a few more weeks of delay for the Vasil mainnet launch during the Cardano360 event.

SundaeSwap, a Cardano-based DEX, published a blog explaining the significance of the hard fork and how it would increase functionality, performance, scalability, and interoperability through different mechanisms.

The update also includes three specific enhancements to Plutus v1 scripts: the Plutus evaluator speed improvements, updated cost model parameters, and datums and redeemers of other inputs.

In its most recent weekly update, IOG outlined the steps being taken towards the release of a new node v.1.35.3 while updates were carried out on Plutus tools toward Vasil Functionality.

Ethereum Investor’s Sentiment Plunges Despite Merge Hype – Report

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Ethereum’s upcoming transition to a proof-of-stake [PoS] system which is scheduled for Sept. 19, has been the talk of the town, causing both hype and FOMO over the last week.

And to top that, ETH co-founder Vitalik Buterin recently laid out the next steps in the roadmap for the network with monikers Surge, Verge, Purge, and Splurge.

But as per a data analytics platform Santiment, the hype has so far failed to put any positive impact on the investors’ outlook.

The study highlighted that the asset is trading in severe negative sentiment territory as traders braced for a price drop in the upcoming Federal Reserve’s Federal Open Market Committee [FOMC].

The Fed’s meeting is slated to be on 26th and 27 July this week and is expected to raise interest rates by another 75 basis points, following in the footsteps of June’s rate hike.

The report also pointed out that any price rally of the coin would be short-lived and volatility would persist for some time.

“ETH had an up and down Sunday, jumping above $1,640 before dipping back down to $1,540. The trading crowd continues to not believe the hype and is expecting prices to fall heading into the FOMC meeting. ETH should continue to stay volatile.”

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Ethereum Investor's Sentiment Plunges Despite Merge Hype - Report 8

Ethereum Held On Exchanges Hit A 4-Year Low

In a separate study by Glassnode, Ethereum held on exchanges hit a four-year low after record staking figures on Ethereum 2.0 [the network’s incoming upgrade, recently rebranded to “Consensus Layer”].

Glassnode also found that centralized exchanges [CEX] currently hold over 19 million ETHs. The latest data is a little over 20 million back in July 2018, Glassnode suggested.

The sharp decline in Ethereum held across exchanges is likely due to the increasing number of Eth staked as the network prepares for its biggest upgrade yet.

Chainalysis, a blockchain data tracking platform, also reported similar findings: “The change in ETH held on exchanges experienced the largest one-day decrease in 202 days, decreasing by 432.84k ETH to 249.58k ETH.”

In contrast to the current network, Eth 2.0 is a proof-of-stake [PoS] network where validators stake 32 Eth to verify the network’s integrity.

Shiba Inu takes it to The Third Floor

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A significant collaboration between the Shiba Inu team and The Third Floor (TTF), the busiest visualization studio known for its work on numerous Marvel blockbusters, has been announced.
TTF will take charge of artistic development by assisting the creators of the well-known meme coin in defining the virtual worlds for the metaverse project.

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Source: Twitter

The American firm has contributed to a number of well-known films, including “Avengers: Infinity War,” “Wonder Woman,” “Thor: Ragnarok,” “Mad Max: Fury Road,” and others. TTF has also contributed to episodic television shows and video games like “Doom” and “Resident Evil 6.”

The Shiba Inu community’s artistically driven mission, according to TTF’s chief creative officer Dane Smith, is “inspiring.” According to Smith, the metaverse may be able to provide an infinite amount of opportunities and mixed-reality experiences.

At the time of press, Shiba Inu was priced at $0.00001178 with a daily hike of 0.73%.

Shiba Inu’s rival Dogecoin presents its Core 1.14.6

Dogecoin has a new iteration, and cryptocurrency users shouldn’t disregard it. The Dogecoin team published a new core version of the joke currency early on Thursday, enhancing the blockchain’s efficiency and security. On Twitter, the Dogecoin team announced,

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Source: Twitter

Along with security updates, the developers updated the pricing structure and other features. For instance, from 1 DOGE to 0.01 DOGE, the acceptable dust limit has been reduced. Other modifications included limiting the amount of addnode records that could be created to 800 and configuring a wallet backup directory.

Improved stopped transaction detection was one of the new features that will assist cut down on delays. In addition, adjustments were made to the UI’s pruning configuration and its management of connections without restarting.

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Source: Twitter

Elon Musk was one of the community members that wanted DOGE to change course and take on a more significant role in usability. We can view the outcomes of the investigation conducted by the Doge developers.

During Tesla’s earnings call, where they reported selling off 75% of its Bitcoin holdings but none of its Dogecoin holdings, the billionaire’s backing was evident.

Furthermore, at the time of press, Dogecoin was priced at $0.0689 with a rise of 0.72% over the last 24 hours.

Major Bitcoin holding dumped by Tesla

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Leading EV maker Tesla said during its results teleconference on Wednesday that it had converted 75% of its Bitcoin assets into cash.

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Source: Twitter

According to its Q2 report, Tesla possessed only about $218 million in cryptocurrencies at the conclusion of the second quarter.

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Source: tesla.com

In February 2021, the well-known e-car manufacturer said that it had bought $1.5 billion worth of Bitcoin, driving the price of the leading cryptocurrency to all-time highs. Shortly after, it made a tiny sale to test the marketability of Bitcoin.

The Elon Musk-run business ceased taking BTC as a form of payment in May 2021 because of ethical considerations.

At the end of 2021, Tesla stated that it has approximately $1.99 billion worth of BTC in its possession.

Third largest whale dumping Bitcoin too?

Recent rumors claim that the third-largest Bitcoin whale has begun selling his HODL holdings. In retrospect, members of the community have begun attesting that BTC would probably respond to the same and go below $10k.

The negative prognosticator “CryptoWhale,” which has a good track record of success, stated that the current stage for whales is “exit liquidity.” According to BitInfoCharts’ on-chain data, the whale discharged almost 15500 BTC on July 19. CryptoWhale claimed back then,

“I expect much more to be sold off very soon.“

As expected, the selling frenzy continued. The whale’s balance fell from 112,382.42 BTCs, valued at $2,643,251,736 in a sequence of transactions on Wednesday and Thursday, to 0.00999896 BTC, only worth $230.

CEO of on-chain data analytics startup CryptoQuant Ki Young Ju stated on Twitter that the transaction(s) are “simply internal” and suggested that the wallet may be either a cold or custodial wallet controlled by Gemini. He also claimed,

“What’s obvious is that it’s not a user deposit to exchange hot wallets for selling $BTC. Not at all.“

Similar mislabeling had happened before and caused market players to harbor misinformation. The misidentification of one exchange wallet as another’s by on-chain data providers was noted by CryptoQuant last year.

However, the world’s largest cryptocurrency currently trades at $22,690.09 with a daily plunge of 0.40%.

Dogecoin Blockchain Transactions Display a Spike as Market Turns Green

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Dogecoin creator, Shibetoshi Nakamoto called attention to the dramatic increase in the number of transactions on the chain. This was when the statistics unexpectedly reached approximately 70,000 operations in the previous 24 hours

The sudden rebound of the bitcoin market occurred after the rise in Doge transaction volume. The two biggest cryptocurrencies, Ethereum and Bitcoin, saw gains of 11% and 6%, respectively, over the weekend trading session.

Dogecoin gains as the market recovers

In terms of DOGE’s price performance, the meme currency is increasing in value by about 3.7%, which is a modest increase for such a fickle asset. The increasing activity of whales might be the cause of the surge in transactions on the Dogecoin network.

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Dogecoin Blockchain Transactions Display a Spike as Market Turns Green 15

Whales may be staking more DOGE in anticipation of a potential rebound run now that the market is beginning to show indications of improvement. Dogecoin made a higher low during its journey for the first time in the previous five months, indicating a probable market reversal.

As whales may start shifting their cash from cold wallets to exchanges, the sharp increase in network transactions might also be an indication of impending market selling pressure.

The current market situation is displaying signs of a recovery. But it is quite unsure whether the market will rebound and continue the prolonged bear market. Whales that had accumulated SHIB and DOGE during the lows have enjoyed some profits due to the spike.

One of the best performers over the last week was MATIC, which displayed over 60% growth over the last week.