Byra

Enthusiastic Developer

[Elon Musk @elonmusk]

Community Notes slays

[Bitcoin Magazine @BitcoinMagazine]

JUST IN: BlackRock CEO Larry Fink says he is a major believer in #Bitcoin after studying it.

[Ai Business Journal @ArchieIntel]

LIVE - 🇺🇸 Shots fired at Trump rally in possible assassination attempt.

[Tezos @tezos]

🔥 Introducing Tezos X — a blockchain with superpowers — a scalable, cloud-like backend for a wide range of apps.

Read on to find out what this means - and how we could get there. 🧵⤵️

#TezosX

(1/7)

[The Spectator Index @spectatorindex]

VIDEO: Putin and Kim Jong-Un driving together in North Korea

[Altcoin Daily @AltcoinDaily]

BREAKING: 🇺🇸 SEC permanently suspends investigation into Ethereum.

[Aaron Bennett @Aaronbennett]

ETH ETF seems like a sure thing.

[Dan Gambardello @dangambardello]

We’re about to enter Cardano season.

We’re about to enter Runes season.

We’re about to enter Base season.

[Altcoin Daily @AltcoinDaily]

Bitcoin has officially halved.

Its supply flow is now less than gold.

Bitcoin is now the hardest, scarcest asset on 🌎.

[Bitcoin Magazine @BitcoinMagazine]

OFFICIAL: #BITCOIN BLOCK REWARD HALVED TO 3.125 #BTC! 🎉

[Bitcoin Magazine @BitcoinMagazine]

JUST IN: There's now less than 150 blocks until the #Bitcoin halving 👀

[Altcoin Daily @AltcoinDaily]

Bitcoin halving - 4 days 🚀

[WF @WhaleFUD]

BITCOIN HALVING IN 4 DAYS 🎉

[Bitcoin Magazine @BitcoinMagazine]

The #Bitcoin halving is coming.

Absolute scarcity at its finest 🚀

[Cardano YOD₳ @JaromirTesar]

Do you know how Mehen $USDM works? Come find out.

USDM is the first fiat-backed stablecoin on #Cardano.

Every minted USDM is backed by the US dollar on a 1:1 ratio.

Minting of USDM is initially available in 17 US states.

See Figure 1.

The minting and burning process is as follows:

Users in eligible jurisdictions can connect their Cardano wallet to the Mehen dApp, complete identity verification (KYC), and link a bank account.

The minting of USDM is only possible if USD is deposited into a linked bank account.

For every USD deposited, one USDM token is minted.

Once a user has USDM tokens on their blockchain address, they can send them to another address or use them in a DeFi application.

KYC-cleared users can redeem USDM 1:1 for USD, which is then sent to a linked bank account.

The corresponding USDM tokens are burned to maintain the 1:1 peg.

While minting USDM does not incur fees, redeeming US dollars for their USDM will incur a 1.5% fee, with a minimum fee of $50 and a maximum of $5000.

Mehen USDM is transparently verified by a 3rd party Oracle service Charli3, ensuring that every mint and burn is authenticated.

Charli3 has API access to the bank accounts to verify all token mints and burns.

Charli3 is tasked with verifying the bank’s reserve balances before every minting operation of USDM and broadcasting this information publicly on-chain.

This unique approach to reserve verification ensures that the value of each USDM token is fully backed by real-world fiat reserves at all times.

Mehen is a registered money services business with the Financial Crimes Enforcement Network (FinCEN), ensuring that its operations meet the highest standards of financial integrity.

In terms of user verification, anyone can hold, transfer, or use USDM without undergoing KYC procedures.

Only users wishing to mint new USDM with fiat or redeem USDM for fiat will undergo a simple KYC process, aligning with global regulatory standards.

By design, Cardano's native assets do not permit the freezing of accounts or censoring of transactions.

This characteristic makes USDM, a unique stablecoin in the crypto industry, immune to confiscation or spending restrictions imposed by any entity.

Cardano treats tokens identically to $ADA coins in terms of transfer and ownership.

The protocol does not require a smart contract to facilitate token transfers.

Instead, tokens are UTxOs stored directly in the ledger.

See Figure 2.

To put it simply, it’s not feasible to incorporate code into a smart contract that would restrict stablecoin holders, as token transfers do not utilize a smart contract.

Instead, a script is employed by the Mehen team to facilitate the minting and burning of USDM tokens.

Mehen's policy ID: c48cbb3d5e57ed56e276bc45f99ab39abe94e6cd7ac39fb402da47ad

[Coin Bureau @coinbureau]

The Dencun update is now live!

Congrats to the Ethereum community for yet another successful rollout

$ETH

[James | MoneyZG @money_zg]

#Bitcoin hits $0.07m!! 🚀

[Watcher.Guru @WatcherGuru]

BREAKING: #Bitcoin reaches new all-time high of $70,440.