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Litecoin

$VNY Token ~ The Revolution of Custom Wallet Addresses

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The text below is an advertorial article that was not written by Cryptonews.com journalists.

Vanity token

$VNY is the first token ever released on any blockchain to provide Custom Wallet Addresses for Bitcoin, Ethereum, Binance Smart Chain, Litecoin and Dogecoin Chains.

A Vanity Address is a Customisable non-proxy address. The addresses generated are new ones visible in chain explorers. Supporting different Blockchains, $VNY can generate Vanity Wallet Addresses of different shapes.

The idea of $VNY was born to simplify the journey for all the crypto users, from beginners to experts.

What are the use cases of the project?

$VNY aims to be the distribution leader of their product for Companies accepting Cryptos, Miners interested in sorting their Rigs Incomes, Holders that wants to instantly recognise their wallet from a multitude of others, People looking for show off their customised wallet, Users feeling safer to send cryptos to an address they recognise, and many more.

The project hasn’t been discovered yet by the cryptocurrency communities, which makes $VNY a possible sleeping giant in the crypto world due the huge potential of the use cases of the product applied in the real world.

But is it safe?

The $VNY Product is fully secure, meaning no one else other than the requester of the address will be able to obtain the Private Key needed in order to generate the Vanity Wallet Address. The $VNY Team, utilising the customer’s Public Key, will output a string of code called Partial Private Key, generated using High GPUs Computing Power, which is correlated to the Vanity Address requested. Once the customer receives the string, the only step required will be merging it with the original Private Key using a $VNY Offline Tool provided by the team, creating the new keys for the new Vanity Wallet Address.

Some $VNY Customers had the fortune of getting their customised wallet from a huge selection of candidates, generating wallets there have never been seen before in the crypto world, such as 1SaToShiYPiWYEevVwxYG6hkDfAT9N9Fy, commemorative of the mysterious creator of the Bitcoin, Satoshi Nakamoto, or 0xC0FFEE1268A4aAe653a4a9Ca81e183dCCAD1a029, for a real coffee lover.

The Project is fully Audited by Solidity.Finance, certifying the security of the Smart Contract of the token.

$VNY Token also has frictionless Fee Redistribution rewarding its own holders and Liquidity Deposit, raising each trade the Liquidity Pool of the project, as well as Deflationary Functions with every transaction, dropping the Total Circulating Supply down and raising the value of the token itself.

A Marketplace for buying, selling, and trading personalised wallet addresses as wrapped NFTs is under development. Traders will be utilising $VNY tokens exclusively as payment currency, and the Litepaper and Roadmap of the project details the journey ahead for VANITY, an unique and innovative project.

Launched in May 28th, 2021 with the Dev and Founders Based in Italy, $VNY is now available for purchase via Pancakeswap, which holds the entire LP Locked for 3 Years.

The $VNY Team has been quiet on the next stages of the project, but are quick to point out that Vanity Addresses are not the only product or project that $VNY will see in the near future. It is clear that this team has exciting and revolutionary ideas for the crypto space.

https://vanitytoken.net/
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Ethereum

DeFi attracts 2.91M Ethereum addresses, according to ConsenSys

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The Ethereum (ETH) network continues to be a major driving force behind decentralized finance, or DeFi, signaling the continuation of a trend that began around mid-2020, according to a new quarterly DeFi report by ConsenSys. 

Toward the end of June 2021, 2.91 million unique Ethereum addresses interacted with at least one DeFi protocol, representing 65% growth from the previous quarter. “As community driven education, simple user interfaces, appealing yields and general awareness around DeFi best practices increased throughout the quarter, so too did the number of new addresses,” the report read.

ConsenSys cautioned that non-custodial wallets like MetaMask make it easier for people to create and fund multiple accounts, which means the number of addresses and users is not perfectly aligned. Nevertheless, MetaMask can be seen as another important gauge for identifying trends in DeFi. As ConsenSys noted, by June 1, the monthly active users on MetaMask surpassed 7.3 million. At the time of writing, ConsenSys counts 8.5 million monthly active MetaMask users. The report explained:

“This is in part due to the growth of DeFi applications on other Ethereum Virtual Machine compatible networks that users can access via MetaMask, like BSC and Polygon.”

Related: MetaMask cites ‘global south’ for its 5x increase in users

MetaMask, which was launched by ConsenSys in 2016, has become one of the most popular cryptocurrency wallets for DeFi users. Its popularity has also been associated with the growing adoption of decentralized exchanges like Uniswap.

Unsurprisingly, DeFi’s growth has been accompanied by a dramatic surge in Ethereum addresses. At the time of writing, the Ethereum network had over 165 million unique addresses, up from around 131 million at the start of the year, according to data provided by Etherscan. As such, active DeFi addresses account for less than 2% of all Ethereum addresses.

Beyond active addresses, the supply of stablecoins is another important metric ConsenSys used to track the growth of DeFi:

“Stablecoin supply continued to grow at a rapid pace in Q2 2021, now representing a total issuance of nearly $65 billion USD, up more than 60% since the end of Q1 2021.”

By the end of the second quarter, Tether (USDT) accounted for 48% of Ethereum’s stablecoin market. That’s down from around 58% at the end of the first quarter, which indicates growing uses for USDT’s major competitors.

Related: How stablecoins stay stable, explained

Some of the other major themes identified in the report include the broadening of decentralized exchanges, the institutional push into DeFi and the apparent growth of decentralized autonomous organizations. The report also talked about the growing importance of token governance and the need to solve DeFi scaling issues.