Fresh off the announcement of it’s CelsiusX (DeFi arm of Celsius Network) collaboration with Mai Finance/QiDao stablecoin protocol, Celsius coin tops among the Benzinga Pro’s 24-Hour Gainer’s List.
According to Benzinga Pro, the world’s premiere real-time content ecosystem, the following are the crypto Gainers and Losers at the time of publication:
+GAINERS:
- NEO (CRYPTO: NEO) increased by 9.71% to $24.7. The trading volume for this coin is currently $278.56 million, which is 82.1% higher than its average full-day volume over the last 100 days. As of today, $NEO’s estimated market cap is $1,752,894,893.00.
Circulating Supply: 70,530,000.00
Max Supply: Not Available - Celsius Network (CRYPTO: CEL) is up 6.94% at $3.51. Celsius Network’s current trading volume totals $6.69 million, a 65.59% increase from its 100-day average volume. The coin’s market cap stands at 1,481,041,464.00.
Circulating Supply: 423,415,980.35
Max Supply: Not Available - Theta Fuel (CRYPTO: TFUEL) increased by 6.13% to $0.22. The trading volume for this coin is currently $72.02 million, which is 106.18% higher than its average full-day volume over the last 100 days. As of today, $TFUEL’s estimated market cap is $1,886,178,774.00.
Circulating Supply: 0.00
Max Supply: Not Available - Decentraland (CRYPTO: MANA) rose 5.56% to $3.22 over the past 24 hours. Trading volume for this coin is 947.06 million, which is 21.02% lower than its average full-day volume over the last 100 days. $MANA’s estimated market cap is $4,890,154,662.00 as of today.
Circulating Supply: 1,509,500,490.52
Max Supply: 2,193,841,127.32 - Avalanche (CRYPTO: AVAX) increased by 4.72% to $92.6. The trading volume for this coin is currently $1.17 billion, which is 2.46% higher than its average full-day volume over the last 100 days. $AVAX’s estimated market cap is $22,889,330,135.00 as of today.
Circulating Supply: 245,302,438.82
Max Supply: 720,000,000.00 - Filecoin (CRYPTO: FIL) rose 3.29% to $22.34 over the past 24 hours. Filecoin’s current trading volume totals $342.23 million, a 37.23% decrease from its a 100-day average volume. $FIL’s estimated market cap is $3,690,865,408.00 as of today.
Circulating Supply: 162,394,819.00
Max Supply: 1,970,819,874.00 - Algorand (CRYPTO: ALGO) rose 3.11% to $0.97 over the past 24 hours. Trading volume for this coin is 182.99 million, which is 52.8% lower than its average full-day volume over the last 100 days. $ALGO’s estimated market cap is $6,491,300,609.00 as of today.
Circulating Supply: 6,616,155,185.27
Max Supply: 10,000,000,000.00
–LOSERS:
- Uniswap (CRYPTO: UNI) fell 1.26% to $10.91 over the past 24 hours. Uniswap’s current trading volume totals $140.78 million, a 47.48% decrease from its a 100-day average volume. As of today, $UNI’s estimated market cap is $5,025,108,763.00.
Circulating Supply: 456,489,583.40
Max Supply: 1,000,000,000.00 - BNB (CRYPTO: BNB) declined by 1.2% to $424.86 over the past 24 hours. Trading volume for this coin is 1.46 billion, which is 19.56% lower than its average full-day volume over the last 100 days. $BNB’s estimated market cap is $71,833,424,719.00 as of today.
Circulating Supply: 168,137,035.90
Max Supply: 168,137,035.90 - VeChain (CRYPTO: VET) declined by 1.17% to $0.06 over the past 24 hours. VeChain’s current trading volume totals $181.14 million, a 56.05% decrease from its a 100-day average volume. As of today, $VET’s estimated market cap is $3,958,150,143.00.
Circulating Supply: 66,760,741,299.00
Max Supply: Not Available - FTX Token (CRYPTO: FTT) fell 1.12% to $46.2 over the past 24 hours. FTX Token’s current trading volume totals $80.37 million, a 50.56% decrease from its a 100-day average volume. The coin’s market cap stands at 6,427,453,479.00.
Circulating Supply: 137,926,022.12
Max Supply: 333,795,358.19 - Ethereum (CRYPTO: ETH) declined by 1.1% to $3079.18 over the past 24 hours. Ethereum’s current trading volume totals $11.98 billion, a 34.24% decrease from its a 100-day average volume. $ETH’s estimated market cap is $370,214,827,367.00 as of today.
Circulating Supply: 119,604,495.31
Max Supply: Not Available - Wrapped Bitcoin (CRYPTO: WBTC) decreased by 1.09% to $43765 over the past 24 hours. Wrapped Bitcoin’s current trading volume totals $184.08 million, a 56.52% decrease from its a 100-day average volume. $WBTC’s estimated market cap is $11,516,452,123.00 as of today.
Circulating Supply: 262,312.69
Max Supply: 262,312.69 - cETH (CRYPTO: CETH) declined by 1.01% to $61.78 over the past 24 hours. cETH’s current trading volume totals $4.13 million, a 89.3% decrease from its a 100-day average volume. As of today, $CETH’s estimated market cap is $3,189,150,407.00.
Circulating Supply: 51,382,894.43
Max Supply: Not Available
QiDao x CelsiusX
Intro
At CelsiusX, our mission is to transparently and efficiently connect the decentralized and centralized finance ecosystems. As the DeFi arm of Celsius, we’re building a scalable platform for cross-chain token wrapping and bridging in order to increase crypto utility and accessibility. In addition to infrastructure, we are also focusing on creating new use-cases for crypto assets, giving users new ways to use their coins, whether through the use of wrapping or bridging technology. In this vein, we are partnering with QiDao, a leading decentralized stablecoin platform on Polygon, in order to expand the range of applications for wrapped tokens and expand adoption for the QiDao, Polygon, and Celsius ecosystems.
What is Mai Finance/QiDao?
Mai Finance is an open source and non-custodial stablecoin protocol for minting MAI with overcollateralized assets. Current value locked on the protocol is north of $300M. Mai Finance increases DeFi accessibility by enabling zero-interest crypto lending, where users can borrow stablecoins (MAI) at no interest using crypto assets as collateral. Mai Finance is a website that connects users to the QiDao Protocol, which allows the creation of vaults where crypto assets can be collateralized in vaults and used to borrow stablecoins.
MAI is soft-pegged to the U.S. dollar in a one to one ratio through a variety of feedback loops. In addition to having a collateralization ratio between 130–150%, users can also engage in risk-free arbitrage when the value of 1 MAI deviates from $1 by more than 1 cent (using their Anchor feature). The MAI token is integrated with a variety of partners including Curve, Quickswap, Balancer and more.
QiDao has established MAI as Polygon’s first native stablecoin protocol and is self-sustaining, community-governed, and decentralized. There are two tokens associated with QiDao: MAI, the protocol native stablecoin, and Qi, the governance token used to vote on proposals. QiDao includes the following features:
- Overcollateralized Vaults: The value of MAI stablecoins is based on collateralized vaults. QiDao is an overcollateralized stablecoin protocol instead of an algorithmic one, with the value of minted MAI always lower than that of the backing assets.
- Vault Control: Vaults, where users deposit their token collateral and borrow MAI, are always user-created and controlled.
- Decentralization: MAI is built on market incentives and penalties. There is no centralized authority or algorithm controlling the protocol. Only users can control their funds.
There are three instances of fee collection in Mai Finance A .5% repayment fee when returning MAI, a .5% fee for depositing LP tokens in liquidity mining pools, and a 1% fee for minting MAI. Approximately ⅓ of the fees are distributed to the community holding the Qi governance token via staking rewards. Additionally, the protocol also offers borrowing incentives for minting MAI against specific collateral by distributing the Qi token at a rate of .05 Qi per block.
Partnership
CelsiusX aims to increase the DeFi opportunities available to the CeFi ecosystem by acting as a bridge between these worlds. In collaborating with QiDao, CelsiusX will help foster adoption opportunities for both our existing user base and new cxToken holders.
As part of the initial launch plan, CelsiusX will deploy three wrapped tokens, cxETH, cxADA, and cxDOGE, onto the Polygon blockchain. These tokens will collateralize MAI minting in QiDao vaults, fostering expansion of the MAI ecosystem by creating additional supply and use cases for the stablecoin, which can then be put to work earning yield in lending protocols and stablecoin liquidity pools.
Vision
CelsiusX aims to bring liquidity and adoption into the DeFi ecosystem through meaningful, long-term partnerships in the space. Partnering with QiDao to create collateralized vaults for wrapped cxADA, cxDOGE, and cxETH is the first step in a long term collaboration. As CelsiusX introduces additional wrapped tokens onto Polygon to increase composability between blockchains, we hope to grow alongside QiDao to establish a stable, secure, and transparent stablecoin option in the Polygon ecosystem.
**This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained in this content constitutes a solicitation, recommendation, endorsement, or offer by Celsius or any third party service provider to buy or sell any asset or make any investment or financial decision.
**Subject to Celsius’ Terms of Use. Celsius’ services may not be available in all jurisdictions.
Disclaimer: The information provided on this page does not constitute investment advice, financial advice, trading advice, or any other sort of advice and it should not be treated as such. This content is the opinion of a third party and this site does not recommend that any specific cryptocurrency should be bought, sold, or held, or that any crypto investment should be made. The Crypto market is high-risk, with high-risk and unproven projects. Readers should do their own research and consult a professional financial advisor before making any investment decisions. CelsiusCow.com does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is CelsiusCow.com an investment advisor. DYOR. Please note that CelsiusCow.com participates in affiliate marketing.
-Via this site: Celsius Network, NEO Among Top Crypto Movers In 24H – Benzinga
-Also Referenced this post: “QiDao x CelsiusX“
*Trending Post: “How Does the Celsius Network Crypto Loan Work?”
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