Forsage ETH Gas Hog App Denounced as Ponzi; Compound Might Take WBTC as Collateral; TRON Gets Twitter Emoji

By July 5, 2020DApps
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ICYMI 489

TL;DR: Welcome to In Case You Missed It (ICYMI), a daily crypto news update. Ethereum dApp Forsage denounced as a Ponzi. Compound could accept WBTC as collateral. TRON gets Twitter emoji. Visa hiring Ethereum engineers to develop dApps. Argentinian fiat exchanges at the price of a satoshi, and Zapit wallet integrates Sideshift for instant BCH to USDH swaps.

Ethereum dApp Forsage Denounced as Ponzi

Forsage

Forsage, a popular Ethereum dApp accounting for 25% of the blockchain’s usage, is being denounced as a Ponzi scheme by the Philippines SEC. It has been classified by some dApp indexes as “high risk,” and usually proposes an MLM model to its users, giving them bonuses as they attract other users to the platform. The Philippines SEC issued a statement advising investors to stop investing in Forsage because the company is operating without authorization in the country.

Compound Could Accept WBTC as Collateral

Forsage

A new governance proposal presented the possibility of Compound to accept WBTC (a tokenized version of Bitcoin) as collateral to enable the possibility of using it for borrowing on the platform. While WBTC can be loaned or borrowed now, it cannot be used as collateral. The proposal stipulates Compound would take 65% of WBTC’s value as collateral, putting its value at a lower level than DAI, USDC, and ETH, whose value is taken at a 75%. The proposal expires tomorrow and appears to be massively popular at press time.

TRON Gets Twitter Emoji

Our new #TRON & #TRX are LIVE, try it out & win gifts!

1st: Macbook Pro
2nd: iPhone 11 Pro
3rd: Airpods Pro
4th-10th: #TRON Merch

Steps:
1. Follow @justinsuntron @Poloniex @OfficialDLive @Tronfoundation
2. Add #TRON emoji logo in your bio
3. Share the bio screenshot below https://t.co/XXHBxqQhUM pic.twitter.com/XFckqd3xE9

— Justin Sun (@justinsuntron) July 3, 2020

TRON, the smart contract enabled cryptocurrency founded by Justin Sun, is the latest cryptocurrency to gain a Twitter emoji, showing the currency logo when users type #TRON or #TRX. Justin Sun showed the emoji via his Twitter account, while also offering prizes to celebrate the announcement. TRON is the fourth cryptocurrency getting a twitter emoji, after Bitcoin, CRO (the crypto.com platform token), and Binance’s BNB. There is no information on how these organizations obtained emojis or if they will be permanent.

Visa Hiring Ethereum Engineers for dApp Development

Forsage

Visa, the credit card giant, is looking for blockchain engineers with Ethereum experience for several positions available in Austin, TX and Foster City, CA. According to the job position explanation, these engineers would be responsible for “defining and building the Non-Card based payment innovation and product for Visa Inc. globally.” Most likely, these developers will be involved in refining and expanding an initiative unveiled last year in Singapore called B2B Connect, including blockchain as a working part of the project.

Argentinian Fiat Exchanges at a Satoshi

The smallest unit of the Argentinian Peso (a cent), the official fiat currency of Argentina, has now the same value than a BTC satoshi, after a series of failed economic policies devalued the national currency and also increased inflation by a whopping 50%. According to the black market dollar rate in Argentina (the official one is lower), BTC is approximately worth $1,050,000 ARS, giving the Peso cent the value of a satoshi. Some units of other fiat currencies are worth less than a bitcoin satoshi, like the Vietnamese dong for example.

Zapit Debuts Sideshift Integration for Coin Swaps

The Coin Swap feature allows you to swap between BCH and USDH within a minute.

For USDH to BCH you will have to wait for one confirmation, hope @sideshiftai makes that instant too

We will start integrating more tokens as we progress.

3/5 pic.twitter.com/kx8qMItrlC

— Zapit (@zapit_io) July 4, 2020

Zapit, a Bitcoin Cash wallet that also integrates SLP tokens, added a new feature called “Coin Swap,” allowing its users to swap value between BCH and USDH (HonestCoin, an SLP based stablecoin) in less than a minute. This is part of a series of premium services that will be available for customers for a one-time fee. The new feature uses Sideshift, an instant swap exchange, as a swap agent. Zapit also introduced two new payment methods for acquiring coins with fiat directly: Interac & Easypaisa.

Forsage
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