Curated News
By: NewsRamp Editorial Staff
April 10, 2024
Coinbase's Base Introduces KYC, Octoblock Revolutionizes DeFi with cFyF
TLDR
- Octoblock ICO Phase 2 offers a 14% discount on OCTO token, with a chance to win a full-option Tesla.
- BASE is implementing mandatory KYC verification on-chain for all existing users to comply with AML regulations.
- Octoblock's cFyF technology fosters community engagement, financial intelligence, and transparent philanthropy for marine life conservation.
- Coinbase's Base is a $130 billion Ethereum layer 2 solution that plans to switch to decentralized management in the future.
Impact - Why it Matters
The introduction of mandatory KYC by Coinbase's Base and the revolutionary technology offered by Octoblock will change the landscape of DeFi, making it more secure, transparent, and community-driven. This news is important for anyone involved in cryptocurrency and DeFi, as it signifies a shift towards greater regulatory compliance and social responsibility within the industry. Additionally, the charitable initiatives by Octoblock demonstrate the potential for blockchain technology to have a positive impact beyond financial gains.
Summary
Coinbase's DeFi venture BASE is introducing mandatory Know Your Customer (KYC) identity verification to comply with anti-money laundering (AML) regulations. Meanwhile, Octoblock (OCTO) is positioning itself as a leader to change its users' view of DeFi with its innovative technology, offering a unique and comprehensive platform that not only promises financial intelligence but also fosters community engagement and social responsibility.
Base, an Ethereum layer 2 solution developed within Coinbase, has a total value of assets locked in smart contracts on the platform (TVL) of $130 billion, and is built on Ethereum. Users can easily navigate to the network via Coinbase, Ethereum mainnet, or other compatible blockchains. The project simplifies the process of creating decentralized applications and enables zero-cost transactions and multi-chain application development using simple APIs for account abstraction and convenient bridges for cross-chain functionality.
Octoblock's recent Crowd Funded Yield Farming (cFyF) signifies a breakthrough in the decentralized finance (DeFi) era. It harnesses the combined power of users to elevate profitability and attain governance capabilities within Yield Farming platforms. Additionally, Octoblock will launch the Tentacle Trust, a charitable account that will support organizations dedicated to the conservation and preservation of marine life.
Source Statement
This curated news summary relied on content disributed by News Direct. Read the original source here, Coinbase's Base Introduces KYC, Octoblock Revolutionizes DeFi with cFyF
