redeemable

According to Bitcoin Magazine, the Bitcoin fintech company Castle announced that it will open its automated Bitcoin financial stack to individual users and launch a pioneering feature in this category: users can choose to receive dividend income in cash or Bitcoin at any ratio.Castle's revenue comes from the perpetual preferred stock STRC issued by Strategy, which was incorporated into the platform earlier this year and currently pays an annualized dividend of 12% on a semi-monthly basis. Users can receive 100% of the dividends in cash, convert 100% to Bitcoin, or choose any ratio between the two. According to the company, most users opt for a compromise solution, using cash to cover daily expenses while automatically reinvesting the remaining portion into Bitcoin with each dividend payout.Castle co-founder and CTO João Almeida stated that investors have long faced a dilemma of choosing between stable income and holding Bitcoin. Castle allows users to achieve both cash flow and long-term upside by automatically converting a portion of the dividends into Bitcoin. Previously, Castle only catered to business clients such as restaurants, gyms, accounting firms, and e-commerce; the opening of personal accounts was due to repeated requests from business owners. Castle was co-founded by Almeida and CEO Stephen Cole and has received investments from Boost VC and Winklevoss Capital.

ChainCatcher message, Duo Exchange tweeted that it has noticed a recent incident where a giant whale lost 15,079 fwDETH due to phishing, causing the attacker to sell off DETH and leading to a brief price decoupling. The official emphasized that DETH is designed to always be redeemable at a 1:1 ratio for ETH that has been opened on Duo. The protocol itself is secure and continues to operate as expected. The team is currently closely monitoring the situation and collaborating with the affected parties.

ChainCatcher message, Paxos published the USDP July third-party report released by Withum, which disclosed that the token supply of Pax Dollar (USDP) represented by the contract 0x8e870d6...89e1 on the Ethereum network is 114,706,089 tokens. Paxos holds cash and debt instrument assets that are fully backed by the trust and credit of the U.S. government in its U.S. regulated deposit institution accounts, with a fair value at least equal to or greater than 114,706,089 dollars. (The same applies to the Solana network token situation), and the USDP supply does not exceed the balance of redeemable assets and complies with the guidelines set by the New York regulatory agency NYDFS.

ChainCatcher message, the information related to BlackRock iShares Bitcoin Trust (ticker symbol IBTC) that was previously removed by DTCC has been re-listed on the DTCC website, but in the Create/Redeem section, it has changed from Y to N.It is reported that Y participants can actively create and redeem shares, which typically helps to keep the ETF's market price aligned with its net asset value; N: the ETF does not allow active creation or redemption of shares. This may lead to its trading price having a greater premium or discount compared to its net asset value.

ChainCatcher news, OpenSea announced in a blog that it will release two Ethereum Request for Comments (ERC-7496 and ERC-7498) and two Seaport Improvement Proposals (SIP-14 and SIP-15) to promote the development of a redeemable ecosystem. Redeemable NFTs allow redemption to receive another on-chain or off-chain item.OpenSea has released a public proof of concept to illustrate this experience, allowing users to mint a Baby Burn egg on the OpenSea Drop page, then go to the redemption page to destroy the egg and exchange it for a Burnie. After that, OpenSea will directly launch on-chain redeemable support for all creators on OpenSea and will also expand the on-chain redemption standards, enabling creators to more easily link items in their collections to off-chain redemption experiences outside of OpenSea, while still tracking the on-chain redemption status through features or destruction.

ChainCatcher news, Morgan Creek Digital co-founder Anthony Pompliano tweeted that BlackRock's application is not for a Bitcoin ETF, but rather a Bitcoin trust. These products are only technically different, especially in terms of regulation and approval, but the end result for investors is similar.Pompliano also stated that if the product is approved, it could force GBTC to introduce daily redemptions and reduce fees to compete with it. Many Wall Street firms may launch quick follow-up products to compete with BlackRock. According to previous reports, fund management giant BlackRock's iShares division submitted an iShares Bitcoin Trust application to the SEC, with the fund's assets primarily consisting of Bitcoin held by a custodian on behalf of the trust. The document states that the custodian will be the crypto exchange Coinbase. (source link)

ChainCatcher news, Binance Chief Strategy Officer Patrick Hillmann responded to Reuters' report about "Binance allegedly mixing customer funds with company revenue in 2020 and 2021, violating U.S. financial rules requiring customer funds to be segregated," stating that when users purchase BUSD (Paxos) from Binance, they are directed to a trading page labeled with the word "Deposit." Users are purchasing a stablecoin that can be redeemed by Paxos, which is clearly stated on the page. The statement in the Reuters report that "Reuters found no evidence of Binance customer funds being lost or taken" is an attempt to protect itself from defamation lawsuits. (Source link)

ChainCatcher news, the NFT lending protocol ParaSpace disclosed the progress of its attack handling and will reopen the protocol in phases. BlockSec and 12 other security experts in the field have completed the security patch review and testing. Currently, ParaSpace is undergoing security reviews and testing to enhance the security of withdrawal time locks. ParaSpace has launched a repayment feature and will restore the supply function later today, resume automatic compound interest and cAPE automatic repayment features on Tuesday, restore liquidation functionality on Wednesday, and enable borrowing and withdrawal features with Timlock security enhancements over the weekend.ParaSpace stated that all affected users will receive an NFT that can be redeemed for future ParaSpace tokens. Additionally, users who provided funds to the ParaSpace lending pool will receive extra tokens to compensate for missed earning opportunities during the protocol's suspension. All users impacted by the protocol freeze will receive this NFT, regardless of whether they continue to use the platform. Furthermore, ParaSpace will introduce an incentive program.According to previous reports from ChainCatcher, on March 17, ParaSpace stated that it observed a suspicious transaction and suspended the entire ParaSpace protocol as a security measure. Currently, ParaSpace's contracts cannot perform any transactions, including withdrawals, deposits, or liquidation activities. Subsequently, BlockSec tweeted that it had thwarted an attack on the NFT lending protocol ParaSpace, saving 2900 ETH in assets. (Source link)

ChainCatcher news, the decentralized asset management protocol Boson Protocol has announced the launch of an improved version of its NFT platform, allowing users to sell real items in the form of NFTs, which can be destroyed and exchanged for physical goods within a certain timeframe. The protocol employs a "sequential submission" process to protect buyers, meaning that both parties in the transaction exchange redeemable NFTs, with the fees held in escrow by the protocol until the transaction is completed.Boson co-founder Justin Banon stated that the platform will focus on luxury goods and is in the process of tokenizing luxury wines and luxury whiskies. (The Block)