Bull Run Super Cycle Confirmed? Could BTC Break $30K Soon?
March 24, 2023 Crypto Roundup (Disclaimer: None of the observations or tips in this article constitutes financial, legal, tax, and/or any forms of advice.) Market
Although the marketplace builder on Rarible has been around for some time now, Rarible has just announced that they will now provide support for Polygon-based NFTs in order for people to create their own community-based NFT marketplaces right from the Rarible platform.
For those that do not know what this feature entails, NFT collection owners and creators are able to build their own little independent NFT marketplaces using Rarible’s marketplace builder, where buyers of their NFT are able to access a separate site that a collection owner is able to customize to show their true creativity and identity behind an NFT collection. Let’s say, for example, that I launched an NFT collection. Instead of seeing all of my available NFTs for purchase on Rarible, users of Rarible can now click on my marketplace through Rarible and be taken to my own independent site.
Being built through Rarible, this also allows for NFT marketplace builders to access all built-in liquidity across the major NFT marketplaces within their own marketplaces, meaning that NFT collection owners and marketplace builders do not need to go out of their way to gain liquidity for the NFTs listed on their marketplace as the entire marketplace will be connected.
A very important feature of this new marketplace for Polygon-based NFT communities is that the marketplace builders are able to make sure that creator fees are paid no matter where the order comes from. If someone purchases an NFT through your own marketplace builder, then creator fees will be applied.
I love that Rarible is creating this marketplace builder for more and more chains, as this feature helps them to differentiate themselves from OpenSea. Sure, OpenSea is offering NFT collection owners and creators the ability to create entire pages for their NFT collections, but Rare truly lets the creators get creative and express what they really want through their NFT collections by building a marketplace for them. The collectors are also able to invite others to list on their NFT marketplaces as well, further growing their marketplace independently.
It is awesome to see these platform-building features that allow others to come and build with the tools and frameworks necessary to do so. We can see that Rarible is truly focusing on allowing their Polygon fans and users to be empowered through this new feature. The only downside that I would see from allowing for this marketplace builder is that the entire space may become even more fragmented as there is now another layer on top of the existing Rarible NFT marketplace where now individual collection owners have separate websites that users of Rarible may have to go to. Other than that, this is a great opportunity for some collectors to get their collections to sell in a new and interesting way that could gain them more traction than just listing on Rarible if their marketplaces are widely used or are very well-made.
Ernst & Young, or EY, is one of the world’s largest consulting, accounting, and tax firms, making them a part of the “Big 4” consulting firms along with KPMG, Deloitte, and PWC. EY is also very well known in both the traditional finance and decentralized finance worlds, as EY has also taken a few initiatives into doing research with Web3 and providing blockchain auditing services.
EY is very well known in the accounting world, and Polygon is very well known in the crypto world. These two companies have partnered up to create EY’s project, Nightfall, which will be a protocol that allows for institutions and businesses to keep the content of their transactions private on the Ethereum blockchain, utilizing zero-knowledge proofs to do so. All of this will be powered by the notorious sidechain, Polygon.
EY and Nightfall stated that they will have their privacy-focused protocol ready by the Global Summit in May for big businesses and enterprises to use, especially in regards to supply chains. EY has also announced that they have updated their public domain source code for both the purposes of scalability and for enterprises to be able to utilize privacy-focused data sharing services.
EY and Nightfall started their collaboration with Polygon back on May 17th, 2022, and being on the Polygon blockchain, we also know that Polygon was in their last stage of testing out their ZK proof network. And just to recap, in a previous blog post article, we stated that these were the reasons why Polygon’s ZK technology was superior to other ZKs:
Polygon’s ZK roll ups will operate at a much faster rate than StarkNet or zkSync, as the computation cost of creating validity proofs with these two traditional rollups is much higher. However, Polygon’s ZK rollup generates recursive ZK proofs in a span of 170 milliseconds, which is an insanely quick generating speed. Polygon’s ZK technology is faster and much cheaper to use compared to traditional ZK rollups, but here is something that will be really important: Polygon ZK rollups will be EMV-compatible. This will make it so much easier for both users and developers of the Polygon ZK rollup dApps and tech to mess around and use tools that are based around Ethereum, even with this new ZK rollup, which StarkNet cannot say the same for.
Why would EY’s Nightfall be important?
EY’s Nightfall is a major step forward for both Polygon and the blockchain space, as one of the most reliable and trusted accounting and consulting firms is actually putting ZK proof and the capabilities of the Polygon blockchain to use with actual businesses and firms. We have progressed to the point where blockchain technology has far superior use cases than traditional methods used for things like supply chains.
What makes Nightfall useful for businesses is that the actual content within the transactions on the Ethereum blockchain will be able to be masked so that the company and supply chain data behind these big businesses will not be leaked or revealed to the public, but only their superficial block data will show on the blockchain. This goes to show that ZK knowledge proofs are very useful when dealing with transactions from large-scale inventories and enterprises, more so than just for trading purposes.
Additionally, for Polygon investors, the Polygon community and developers are further justified in saying that Polygon will become one of the most used and utility-focused blockchains, as they have become one of the most notorious blockchains for partnerships with Fortune 500 companies in both DeFi and NFTs, and now with data-focused use cases in the enterprise world.
21Shares is the world’s largest creator and issuer of exchange-traded products, also known as ETPs, which are securities products that track a set of underlying securities that are then listed on an exchange. 21Shares is most known for being one of the first ever crypto companies to launch a physically-backed crypto ETP, creating indexes and ETPs for blue-chip companies in the space.
Just today, 21Shares launched their STAKE ETP, which is their 21Shares Staking Basket Index, in collaboration with Vinter. This will be the world’s first ever ETP that will track an underlying basket of assets that earn yields from staking. Sure, 21Shares already offers staking ETPs for individual protocols such as Solana, Tezos, and other tokens. This new STAKE ETP, on the other hand, will create a basket of various proof-of-stake tokens, tracking the underlying staking rewards and performance of the cryptos for investors to trade on the BX Swiss exchange right now.
The cryptos that will be tracked in this basket are BNB, ADA, ATOM, DOT, SOL, and XTZ. STAKE currently has $108,284 in assets under management, a net asset value of $10.83, and a fee of 2.5% that goes to 21Shares.
This is quite an interesting ETP that I think will be very popular amongst larger institutions, or more so, people who do not wish to go through the lengths of individually staking all of these tokens and being diversified but want to purchase a single product that does it all.
Of course, this will mean that you will not actually own your crypto when you purchase this ETP. However, I am sure that institutional clients and the average Joe who likes his stocks will not care. This opens up more access to staking for more traditional investors, as they will easily be able to have a diversified portfolio of some of the largest proof-of-stake protocols and be able to receive staking rewards from the ETP without having to go to an exchange, wallet, or website to delegate their tokens.
Personally, I would not necessarily purchase these ETPs for my own holdings; however, I can see that many institutional investors would actually like these products as they are custodied by 21Shares, allowing for simplicity and ease of purchase for the institutional investors. It is very cool that we are seeing securities products being able to track cryptocurrencies and staking rewards, when just a few years ago, an index fund for Bitcoin alone was absolutely unheard of.
I can see a large market developing for these kinds of products as other ETP and index fund issuers try and build out similar products to the STAKE ETP, but with different combinations and baskets of tokens that have the ability to earn staking rewards. First we will have ETPs for staking, then one party will have to come in and make a product to track the underlying performance and rewards accruals of liquid-staking, yield farming, and so on.
March 24, 2023 Crypto Roundup (Disclaimer: None of the observations or tips in this article constitutes financial, legal, tax, and/or any forms of advice.) Market
March 23, 2023 Crypto Roundup (Disclaimer: None of the observations or tips in this article constitutes financial, legal, tax, and/or any forms of advice.) MapleStory
March 22, 2023 Crypto Roundup (Disclaimer: None of the observations or tips in this article constitutes financial, legal, tax, and/or any forms of advice.) CCP
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14.5. If you have any questions, feedback, complaints or claims with respect to the Services, please contact us at: [email protected] We will do our best to address your concerns.
14.6. These Terms and any action related thereto shall be governed by and shall be construed in accordance with the Laws of the British Virgin Islands. All claims and disputes arising under or relating to this Agreement are to be settled exclusively by the competent courts in the British Virgin Islands. For the avoidance of doubt, and without limiting the generality of the foregoing, this provision expressly applies to any claim, whether in tort, contract or otherwise, against Hector Network. You irrevocably and unconditionally agree and consent to the jurisdiction and venue of the courts of the British Virgin Islands, and you waive any objections thereto, including under the doctrine of forum non conveniens or other similar doctrines. You and Hector Network agree that any Party hereto may bring claims against the others only on an individual basis and not as a plaintiff or class member in any purported class or representative action or proceeding. Any relief awarded to any one user of the Services cannot and may not affect any other users of the Services.
14.7. Any waiver of any provision of the Terms on one occasion will not be deemed a waiver of any other provision or of such provision on any other occasion. Any delay or failure in exercising any right shall not constitute a waiver unless such waiver is confirmed in writing.
14.8. If any part of any section of these Terms is held invalid or unenforceable, that part will be construed in a manner to reflect, as nearly as possible, its original meaning while remaining valid and enforceable or if not possible shall be deemed deleted and the remaining part of the section and/or of these Terms will remain in full force and effect.
14.9. These Terms are the final, complete and exclusive agreement between you and Hector Network with respect to the subject matter hereof and supersedes and merges all prior discussions, agreements or representations between you and Hector Network with respect to such subject matter.
Welcome to the Hector Network platform (“we”, “us” or “Hector Network”). Hector Network is developing an ecosystem which consists of various innovative developments and applications (“Services”). The Hector Network platform is accessible on www.hector.network and any other sites or subdomains of Hector Network (“Site”).
To provide our Services we may collect some of your data some of which may under certain circumstances be considered personal information. We at Hector Network are committed to fully protecting your privacy and being a responsible and transparent custodian of the information we collect.
Therefore, please find all the necessary information on how we may collect and process your personal data gathered in connection with your use of our Site and our Services in this Privacy Notice.
Notice: Please, read this Privacy Notice carefully and in addition to the Terms and Conditions to understand our practices regarding the information that may be considered personal. If you do not wish for your personal information to be used in the manner described herein, you should not access our Site and all subdomains thereof, utilise our Services, participate in the offering of our tokens or otherwise provide Hector Network with your information which may be considered personal.
Please ensure that any relevant individuals are made aware of this Privacy Notice prior to providing their information to us or us obtaining their information from another source. In such a case, you or they must first ensure that you or they have the authority and appropriate legal basis to do so.
We do not knowingly collect or ask for data, including personal information, from people under the age of 18. If you are such a person, please do not use our Service or send us your data. Otherwise be informed that we erase such data the moment we learn it is collected from a person under the age of 18.
The administrator of our Site, provider of the Services and thus controller of your personal information processed in connection for purposes described hereinbelow is Hector Enterprise Inc.
Registered office: Trinity Chambers, PO Box 4301, Road Town, Tortola, British Virgin Islands
We will usually respond to all legitimate enquiries within 30 days. Occasionally it may take us longer if your request is particularly complex or you have made numerous requests. We will notify you and keep you updated.
‘Personal information’ is any information that, either alone or in combination with other data, enables an individual to be directly or indirectly identified (for example, name, email address, contact details, or any unique identifier such as an internet protocol address (‘IP address’), device ID or other online identifier).
We may collect the following basic personal information from you:
You can choose how Cookies are handled by your device through your browser or through our cookie banner, including refusing or deleting all Cookies. If you choose to receive no Cookies at any time, websites may not function properly and certain services may not be provided. Each browser and device is different, so check the settings menu of the browser or device you are using to learn how to change your advertising settings and Cookie preferences.
We may receive information about you from other sources, including third parties that can lawfully share the information with us and help us update, expand, and analyse our records, prevent or detect fraud or other suspicious activities and process payments. In addition, our Site may also include integrated content or links to content provided by third parties (such as live chat, social media content, plug-ins and applications).
Please be informed that we do not process special categories of personal data (such biometric data, data concerning health, racial or ethnic origin, political opinions, etc.).
We do not use either automated decision-making or profiling in terms of your personal information you provide to us.
We may use the information gathered primarily for the following purposes:
We may also use the information we collect:
We retain the information we collect for no longer than is reasonably necessary to fulfil the above purposes and to comply with our legal obligations.
Your personal information as described above is processed by us on a basis of the following legal grounds:
Taking steps prior to entering into a contract and necessity for performance of a contract with you – We may need to collect and use your personal information in order to enter into a contract with you or to perform a contract that you have with us, for example, when you provide personal information to us in order to purchase our tokens, if necessary for such purchase.
In such a case, the provision of your data is necessary in order to enter into a contract and also a contractual requirement as without such data we are not able to enter into a contract with you.
Compliance with legal obligations – We may process your personal information as may be required by respective legal or regulatory obligations that may apply to us.
In this case, the provision of your data is a statutory requirement without which we are not able to comply with our legal obligations.
Our legitimate interests – We may use your personal information for our legitimate interests to improve our Services, thus maintain and develop our business activities as well as to protect and enforce our or third party’s rights, if necessary.
Please be informed that you have the right at any time to object to the processing of your personal information which is based on our or third party’s legitimate interest.
Your consent – We send to you direct marketing e-mails upon your previous consent. Each such e-mail also contains a link that allows you to opt-out from receiving such e-mails, update your contact information or change your preferences at any time.
To withdraw any consent to processing your personal information, please use our electronic form or by clicking on a link provided in every e-mail sent to you to unsubscribe from such marketing electronic communication.
We may disclose information:
Important note: We do not sell, rent, or otherwise share personal information that reasonably identifies you or your organisation with unaffiliated entities for their independent use except as expressly described in this Privacy Notice or with your prior separate consent. We may share information that does not reasonably identify you or your organisation as permitted by applicable law.
When you voluntarily make your personal information available online in our environment shared by third parties (for example, on messaging applications, social media, message boards, web logs, or emails), that personal information may be viewed, saved, collected, heard, used and/or shared by third parties outside of Hector Network. We are not responsible for any unauthorised third party using such information. Please be mindful whenever you share any information in such environments.
Our Site may include integrated content or links to third parties’ content (for example, social media content, plug-ins and applications, video materials, etc.) which are governed by the third parties’ privacy settings and policies, which may differ from this Privacy Notice. This Privacy Notice does not address, and we are not responsible for or able to control, the privacy, security, or other practices of such third parties.
We deploy organisational, technical and physical safeguards designed to protect the information that we collect. This includes, when required or appropriate and feasible, obtaining written assurances from third parties that may access your personal information that they will protect the information with safeguards designed to provide a level of protection equivalent to that adopted by Hector Network.
We may store the information we collect on our servers both cloud-based or in servers located in countries where we or our service providers have facilities. Therefore, we may transfer information to countries outside of your country of residence which may include countries outside the EU member states.
Please note that if you are the EU citizen and provide us with your personal information, it may then be transferred for the purposes stated herein to third countries outside the EU/EEA under conditions set in this Privacy Notice and you consent to this by using our Site or Services.
You have the right to withdraw your consent at any time, without affecting the lawfulness of processing based on consent before its withdrawal. Therefore, the marketing e-mails we send to you include the opt-out link for you to unsubscribe from receiving such communication (as well as update your contact information). We will honour your choice and without delay refrain from sending you such e-mails.
Under local law, you may have certain rights regarding processing of your personal information, in particular, you have the right to request: (i) access to your personal information, (ii) rectification or erasure of your personal information, (iii) restriction of processing concerning you, (iv) objection to processing that is based upon our legitimate interests (as already stated above), and (v) data portability to other service providers.
We are committed to working with you to obtain a fair resolution of any complaint or concern about your privacy. If, however, you believe that we have not been able to assist with your complaint or concern, you may have the right to lodge a complaint with a respective supervisory data protection authority, as applicable, in your jurisdiction.
If you would like to contact us, please use the methods stated above.
Your ability to exercise these rights will depend on a number of factors and, in some instances, we will not be able to comply with your request, for example because we have legitimate grounds for not doing so or where the right doesn’t apply to the particular information we hold on you. Where so entitled to access to your personal information, you will not have to pay a fee unless your request is clearly unfounded, repetitive or excessive (upon which we may charge a reasonable fee or refuse to comply with your request). If you would like to discuss or exercise the rights you may have, you can contact us through the methods stated above.
Please keep us informed if your personal information changes whilst we continue to retain such information. We encourage you to contact us to update or correct your information if it changes or if you believe that any information that we have collected about you is inaccurate or out of date.
We may update this Privacy Notice from time to time and we encourage you to periodically review this Privacy Notice. If we make any material changes to this Privacy Notice regarding the way we collect, use, and/or share the personal information that you have provided, we will notify you by posting notice of the changes on the Site or, if we hold your email address, by email.
The use of certain of our Services may also be governed by other applicable terms and policies regarding privacy and the sharing of personal information, which supplement, and should be reviewed alongside, this Privacy Notice.
Unless otherwise defined in this Privacy Notice, terms used have the same meaning as in the Terms and Conditions.
Effective Date: 10 May 2022
This disclaimer (the “Disclaimer”) explains the terms and conditions governing your access to the https://hector.network/ website (the “Site”) and/or our services as described on the Site (the “Services”; unless the context provides otherwise, the Services shall be deemed to include the Site). This Disclaimer, together with the Terms and Conditions (the “Terms”), forms a binding legal agreement between you and Hector Enterprise Inc., with its registered office at Trinity Chambers, PO Box 4301, Road Town, Tortola, British Virgin Islands (“Hector Network” or “we” or “our” and its derivatives).
You must read this Disclaimer carefully. By accessing the Site and/or using the Services, you signify that you have read, understand and agree to be bound by this Disclaimer in its entirety and understand the risks related to the Services and crypto-assets in general. You agree to comply with this Disclaimer even if our methods to prevent the use of the Services are not effective or can be bypassed. If you do not agree with anything in this Disclaimer, you may not use the Services. We may implement controls to restrict access to the Services from any jurisdiction or persons prohibited pursuant to this Disclaimer.
You agree to indemnify and hold Hector Network harmless from any losses, costs, liabilities and expenses (including legal fees) relating to or arising out of: (a) your use of, or inability to use, the Services; (b) your violation of this Disclaimer or the Terms; (c) your violation of any rights of another party, including but not limited to any other users of the Services; or (d) your violation of any applicable laws.
Hector Network may, at its own discretion, assume the exclusive defense and control of any matter otherwise subject to indemnification by you, in which event you shall fully cooperate with Hector Network in asserting any available defenses. This provision does not require you to indemnify Hector Network for any fraud, gross negligence, or willful misconduct of Hector Network.
You confirm that you fully understand that (i) our crypto products and related services are unregulated and can be highly risky; (ii) there may be no regulatory recourse for any loss from crypto-related transactions; (iii) investment in crypto-assets or similar products carries a high risk, may not be suitable for retail investors and the entire amount invested may be lost.
Hector Network is not a bank, securities firm, financial institution, financial services provider or provider of similar services and does not provide investment, tax or financial advice, financial services or consulting services to users of the Services. We are solely the provider of the Services. Your logged digital assets are not covered by insurance against losses or subject to any deposit insurance schemes or protections.
You understand that you are solely responsible for any tax reporting and payment, levies or similar duties applying to you in relation to your use of the Services (including but not limited to your purchase and/or sale of any digital assets) and you agree to hold us harmless and indemnify us for any tax-related obligations applicable to you in relation to your use of the Services.
You may not use the Services if you are located in, or are a citizen or resident of any state, country, territory or other jurisdiction where your use of the Services would be illegal or where your use of the Services would amount to any violation of any applicable law either by you or by Hector Network, which is your obligation to check before using the Services, including but not limited to:
any jurisdiction for which the Services, or any offer or solicitation in respect of the Services, would require registration or licensing or otherwise would be unlawful.
The Services are also not available to any person who is the subject of economic or financial sanctions or trade embargoes administered or enforced from time to time by (a) the U.S. government, including those administered by the Office of Foreign Assets Control (OFAC) or the U.S. Department of State or (b) the United Nations Security Council, the European Union or Her Majesty’s Treasury of the United Kingdom; or (c) any other relevant sanctions authority (“Sanctions”) or is organized or resident in a country or territory that is the subject of country-wide or territory-wide Sanctions.
The information on this page and all other pages owned, operated by, or related to Hector are for educational purposes only and do not constitute any sort of advice. Cryptocurrencies, NFTs and other blockchain offerings are unregulated assets and users should do extensive research into how they work, the potential risks and the tax liability of owning them in their native regions. Users should carefully read all the documents above before accepting.