Binance released its highly anticipated proof of reserves (PoR) on Friday, providing blockchain-based evidence for the Bitcoin on its books. However, many in the crypto community question Binance’s approach, and aren’t fully convinced that they have the transparency they’re looking for. The Move to Proof of Reserves As Binance explained in its announcement, the exchange’s transparency system will add multiple tokens and networks within the next two weeks. For now, it solely validates its Bitcoin holdings. The company’s initial audit…
As the DeFi community continues to expand, staking has become more popular than ever. Staking is a term that refers to a blockchain process in which users lock their funds up in a smart contract for a predetermined time and receive rewards for their efforts. Keenly, staking can be done for multiple reasons.
The main reason people stake is to secure Proof-of-stake blockchains. In these systems, stakers act as nodes. They are responsible for securing the blockchain—the more of a certain coin you stake, the more rewards you receive for your participation.
Recently, liquidity staking has come into the spotlight as another popular way to earn a passive income. Liquidity staking works similar to regular staking in that you lock your cryptocurrency up for a certain amount of time within a smart contract that resides on the blockchain. The main difference in this strategy is that your locked funds provide liquidity for network pools.
People can borrow against these pools. Users then repay their debts plus interests. This interest is split between the liquidity providers in the form of staking rewards. This investment strategy’s simplicity makes it ideal for anyone seeking quick returns without normal trading risks. This strategy is vital as it allows anyone to lend out their crypto and earn interest.
Top Staking Platform
Finding the best platform to stake your cryptocurrency on can seem like a daunting task. There are many Defi platforms in the market, and all of them have different staking rewards, lock-up periods, and minimum amounts. Luckily, some platforms rise above the competition in terms of rewards, transparency, and UX. One such platform is The Corion Foundation.
The Corion Foundation
The Corion Foundation differs from most of the other platforms in the market in a few crucial ways. Primarily, it doesn’t seek to compete with other platforms in the market. Instead, the group wants to unite specific parts of the community to further adoption.
The Corion Foundation revolves around a desire to create one platform for stablecoins, DeFi, and CBDCs to help bring together the industry’s smartest minds under one community. Additionally, the firm offers an educational aspect to its approach. The developers believe that they can further adopt these unique financial instruments globally by creating a common platform. In this way, Corion seeks to help the unbanked, young people gain access to swift, safe, and affordable Open Finance.
Benefits of Corion Foundation
The Corion Foundation introduces an intuitive UX to mainstream blockchain investors. Developers built the platform to allow anyone to utilize stablecoins, CBDCs, and DeFi platforms without any prior technical knowledge. Placing all of these platforms under one umbrella makes sense from an adoption standpoint.
People can better understand these concepts when they are presented together. Additionally, understanding the nuances between these coins provides investors with valuable knowledge.
How Does the Corion Foundation Work
The Corion Foundation helps the spread of stablecoins in a variety of ways. Primarily, the platform offers various services to help companies and investors further their blockchain ambitions. The group has a focus on merchant acquisition at this moment. To that extent, the platform offers a high level of wallet and merchant gateway integrations.
Merchants continue to show interest in blockchain assets. Simplifying the onramp for these firms is one of the best ways to increase cryptocurrency use. Today, more companies than ever accept cryptocurrencies such as Bitcoin or USDT.
The Corion Foundation also offers consulting services to firms interested in entering the space. These services include helpful features, such as a review of your business model and whitepaper. It’s always recommended that you get your whitepaper reviewed to ensure that you don’t have errors that cost your project serious funding.
The foundation will help you with your fundraising and investment strategies as well. Companies can get advice on setting up their firm, including the legal aspects of your project. You can also find access to the rest of the DeFi community via representation and support on events.
The Corion Community
One of the best features of the Corion Foundation is its strong community of users. This community laid the foundation for further adoption in the sector. Together, this team seeks to create new and exciting collaborations across industries. Importantly, each project brings more users into the DeFi fold and expands the overall use cases for this technology.
The CORX token is the main utility token for the Corion Foundation network. Within the system, CORX plays a vital role. Users pay fees and receive rewards in CORX. Notably, CORX is an ERC-20 token. As such, it enjoys maximum interoperability in the market. ERC-20 tokens have access to the most wallets, exchanges, and Dapps available.
Users can stake their CORX and start earning a passive income with ease. Staking Token holders within the Corion ecosystem receive staking rewards of 2.5%. These rewards are paid out quarterly via the Loyalty Staking Program.
Interestingly, Corion has already made some major partnerships in terms of wallet providers. The platform features wallet integrations with XcelPay, portfolio tracker CoinMarketAlert, interoperability bridge Syscoin, and San Francisco-based next-gen banking platform Vesto.io.
In 2019, the Corion Foundation began a campaign to help educate the masses about stablecoins and cryptocurrencies. The program dubbed #MoneyInTheRightDirection has seen significant success since its debut. The program currently helps develop and educate Individuals, financial providers, hedge funds, and merchants about stablecoins, cryptocurrencies, and open finance solutions.
The Swiss-based Corion Foundation was founded in 2016. The project entered the market to promote the mainstream adoption of stablecoins and reliable cryptocurrencies in the world. Today, it stands as one of the most interesting projects in the sector. You can expect to hear more from this group as they expand their market positioning moving forward.