Circle’s prospect of a USDC blockchain launch on Cosmos has garnered attention for its potential to enhance its interoperability and scalability. In other news, Avorak AI, a new AI crypto, has seen a 75% increase in value, reflecting the growing interest and hope in the emerging AI crypto space.
What is Cosmos (ATOM)?
Cosmos is a decentralized ecosystem of independent blockchains that are connected through the Cosmos Hub. It allows for interoperability between different blockchains, enabling them to communicate and exchange value in a decentralized and secure manner. The Cosmos network uses Tendermint, a Byzantine Fault Tolerant (BFT) consensus algorithm, to achieve fast transaction processing and high throughput. ATOM is the ecosystem’s native token and is used for staking, settling transaction costs, and governance. ATOM’s price has been on the rise as more projects, such as USDC, aim to scale through it. This blockchain-to-blockchain communication will be vital in the near future, and ATOM’s price might reach new highs.
USDC on Cosmos
Circle, the company behind the USD Coin (USDC), announced plans to launch a new USDC blockchain on the Cosmos (ATOM) network. This move is intended to provide greater interoperability and expand the reach of USDC across different blockchain networks. The USDC on Cosmos will be fully compatible with existing USDC tokens on Ethereum, allowing for seamless cross-chain transfers and usage. The launch of the USDC on Cosmos also opens up new possibilities for decentralized applications (dApps) and smart contract platforms, enabling them to integrate USDC natively and leverage the benefits of the Cosmos ecosystem.
USDC recent news
Despite its prospective launch on Cosmos, USDC’s recent news will have a considerable effect on its market cap. Over the weekend, USDC lost its peg to the US dollar as a result of the collapse of the Silicon Valley Bank (SVB). The collapse saw investors withdrawing their USDC in billions, leading to the token falling below $1. This news has caused suspicions concerning Circle’s reserve ability. This is because investors see patterns comparable to what happened before the TerraUSD (UST) crash.
What is Avorak AI?
Avorak AI is a project on the recently booming AI crypto space. Avorak integrates blockchain and AI technology to offer products and services that help streamline our individual lives and businesses.
The platform’s native token, AVRK, will be used to access the AI solutions. AVRK’s wide range of use cases includes staking, holding to earn a portion of its revenue, liquidity farming on decentralized exchanges (DEX), and eventually, a gas token when Avorak launches a native blockchain, the Avorak Network.
Avorak’s basis on the Binance Smart Chain and successful audit by CyberScope increase confidence in the project’s security and transparency. Cilinix Crypto and AlienCrypto highlight many different aspects of Avorak in their recent YouTube videos.
Benefits of Avorak’s ICO
Avorak’s ICO offers a range of benefits to investors who obtain AVRK tokens through it. These have made it a hot topic among crypto users on Twitter like Hailey LUNC and AngelXBT. Through Avorak’s sliding scale of price increases and token bonuses, early investors are assured up to a 350% increase in their investments when Avorak is launched. ICO participants are also given priority staking. This allows them to have priority access to Avorak’s various staking pools over open-market token holders.
ICO investors additionally gain access to closed beta product testing, allowing them to assist Avorak’s AI ‘AVA’ in deep field learning exercises, explore user interface controls, and provide feedback. Through these tests, users contribute directly to the development of Avorak AI and its goal of becoming the leading blockchain-powered AI platform.
Avorak’s phase 2 of the ICO event
One of ICO’s main advantages is the discounted price it offers. Avorak’s ICO has been causing a stir in the crypto world as far back as February. The project launched its ICO on 1st March, with 1 AVRK selling at $0.060, and offering a 10% bonus. Phase 1, which ended on March 10th, was quite impressive. Avorak acquired a large number of investors, even securing a $50,000 OTC deal.
The current phase 2, which started on 11th March, saw a 75% increase in AVRK’s price, reaching $0.105. The bonus is currently at 9%. This phase offers investors who missed the first phase to still benefit from the low price and the high bonus before the price increases and the bonus decreases in the next phase.
For more information on Avorak AI and its ICO:
Website: https://avorak.ai
Whitepaper: https://avorak-labs-and-technology.gitbook.io/avorak-a.i-technical-whitepaper/
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