NFT News by Thebittimes.Com

io.net, a Solana-based decentralized physical infrastructure network (DePIN) protocol, announced a new rewards program ahead of its token debut in April.  The program , named Ignition, is set to enter its initial phase on March 1 and will continue until April 28. How does the io.net reward system work? Through Ignition, users will earn points based on their contribution of graphics processing units (GPUs) to the network.  Picked for you Crypto expert reveals the right time to sell Bitcoin 25 mins ago How much is the CEO of ARK Invest worth: Cathie Wood's net worth revealed 2 hours ago 3 cryptocurrencies for a 10x market cap increase in 2024 15 hours ago Brace for strong Cardano (ADA) surge; Here’s why 16 hours ago Other factors, such as completed job hours, node bandwidth, GPU model, uptime, as well as GPU supplier activity since its inception in November 2023 will also influence the rewards algorithm. Ahmad Shadid, io.net CEO a...

ShuttleFlow will change ownership to be operated and developed by Zero Gravity. ShuttleFlow, the ecosystem multichain protocol operated and maintained by Conflux Foundation, also known as the Shanghai Tree-Graph Block chain Research Institute, will shut down after two years .  The ShuttleFlow technology stack will instead be transferred to Web3 studio Zero Gravity, which will continue to develop the protocol under a new brand. "All user funds are secure and will be migrated from ShuttleFlow to Zero Gravity," developers wrote, adding, "Users who have previously bridged through ShuttleFlow and completed the claim of their bridged assets on the destination chain do not need to undergo any additional operations for the migration." "After ShuttleFlow shuts down its bridging, users can bridge through Zero Gravity's official dApp or continue using the bridging aggregator, which will integrate Zero Gravity when launched." The ShuttleFlow decentralized a...

DeFi exploits resulted in losses of over $16 million in August. Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. In this week’s newsletter, Ethereum staking services have agreed upon a 22% limit on all validators to ensure fair markets. August proved to be another costly month for DeFi as several protocols were collectively exploited for $16 million. In separate exploit news, Balancer protocol lost nearly $900,000 due to a vulnerability flagged months ago. Shibarium’s second launch proved more stable as the layer-2 protocol already has over 100,000 new wallets, and USD Coin (USDC) is set to debut on Coinbase’s layer-2 platform later this week. The DeFi market had another late-week bearish decline due to an overall market fall after news dropped of a delay in the decision on approval of a spot Bitcoin’s spot exchange-traded fund (ETF). Most DeFi tok...