The majority of the cryptocurrencies are trading sideways while Bitcoin is holding the $61k region. Ethereum is showing strength around $3,700 with the fear and greed index turning to Extreme Greed.
Let’s find out the top crypto news for the day.
Popular privacy coin Firo has launched a new crowdfunding system. The new system, called FCS, is now set to replace the old Community Crowdfunding System (CSS). It provides for the decentralization of funding for the Firo project. FCS allows any user to seek funding from the community for valuable work to support Firo.
Firo’s original CCS is a fork of Monero’s. Though it is open-sourced, the licensing system needed the permission of the original developer to use the code. Now that FCS is permissionless, it is expected to accelerate the development of the project.
However, the announcement did not have a notable impact on the price of $FIRO yet.
Firo launches Firo #Crowdfunding System (FCS)
FCS is the new and improved crowdfunding system that replaces the previous CCS.
— Firo $FIRO (@firoorg) October 18, 2021
Moonbeam, an upcoming Ethereum-compatible smart contract platform, has started its pre-registration program. The platform aims to enable easier expansion of multi-chain projects to the Polkadot ecosystem. Moonbeam’s crowdloan helps the Moonbeam network to win a parachain slot on Polkadot.
(Source : Moonbeam)
You can access the crowdloan initiative using this link.
Moonbeam is also conducting a rewards program for early registrations. Though the deadline is not yet mentioned, it is expected to end before November 11. Users need a Polkadot account for registering, and you can get it for free. Users can follow this guide for further assistance.
Popular wallet Coin98 has launched a cross-chain bridge for Layer 1 – Layer 2 native conversion in Arbitrum. Arbitrum is an Ethereum layer scaling solution created by Offchain Labs.
The bridge allows users to interact with Layer 2 scaling solutions by bringing new bridges between Layer 1 and Layer 2 blockchains. It currently supports five popular blockchains: Ethereum, Binance Smart Chain, Solana, Tron, and Avalanche.
C98 is now trading near $3.45, well below its all-time high of $6.42.
Coin98 Wallet is providing users with the @arbitrum cross-chain bridge, enabling you to convert tokens from L1 to L2 and vice versa natively on the Mobile App.
New to Arbitrum? Speed up your skin-in-the-game experience on its ecosystem with us.
— Coin98 Super App (Formerly Coin98 Wallet) (@coin98_wallet) October 16, 2021
OpenOcean is an aggregation protocol that uses both CEX data and exchanges and DEX data and exchanges. OpenOcean also offers the best prices with low slippage and fast settlement compared to traditional protocols. Kucoin will launch flexible Pool-X staking with 22% APR.
Kucoin has set a soft cap of 50 $OOE and a hard cap of 50,000 $OOE tokens. The staking program functions on a first-come, first-serve basis. There is a hard cap of two million tokens to fill the pool. Interested users can stake the tokens at 10 AM UTC on October 19.
You can read Kucoin’s guide on $OOE staking here.
📆10am, 19th Oct. – 10am, 18th Dec. UTC
Mark your calendar and dive into the pool💦!
— OpenOcean | We're hiring 🌊 (@OpenOceanGlobal) October 18, 2021
In our last bit of the top crypto news stories for the day, Strong Node has announced its IDO on the Starter, BullPerks, and TrustPad platforms. It is an infrastructure-as-a-service technology company and built on the Polygon chain.
The IDO takes place on October 21, and KYC is mandatory.
IDO platform Starter has released a detailed guide on taking part in the IDO. You can have a look at the guide here.
— StrongNode.io (@StrongNodeEdge) October 16, 2021
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