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Catch Major Price Moves with MarketWizard App

Introduction

Perhaps what is interesting about the modern world is its rate of tech evolution and innovation. From light bulbs, cars, washing machines, telephones, and roughly 30 years ago, the groundwork was laid for the Internet.

The world has never been the same again. It was dubbed web 2, the publishing age, since anyone, anywhere could create content and “push” it to the other side of the world. The world became a village.

Fast forward and the 2010s brought us the blockchain. Seven years later, the concept of dapps took root. Dapps were ordinary applications whose back end ran on a distributed, smart-contract ledger. Ethereum is still the favorite.

With Ethereum, there is just more than what meets the eye. Yes, there is smart contracting and its middleman, eliminating automation which also fostered innovation. This innovation seeped into the restive financial industry and now we have decentralized finance, or DeFi.

DeFi: It is just the beginning.

DeFi is open finance where owners of ETH—or native currency of a smart contract’s platform say Cosmos (ATOM), for instance, can borrow or lend their holdings for a stable coin. DeFi has revolutionized traditional finance. And Ethereum is the base for this welcomed innovation.

But DeFi is not specific, it is all-encompassing, and they involve exchanges and lending apps. At the time of writing this, there were over $900 million worth of ETH locked up in DeFi applications.

Ethereum (ETH) Locked in DeFi dapps

The most popular is MakerDAO, where borrowers received DAI, a stable coin with ETH as collateral. Lenders in the meantime can earn above rate interest rates.

But DeFi can’t function without oracles, or portals that convey useful, reliable—and always vetted real-world, off-chain information, that can trigger smart contracts which also run DeFi apps.

Thing is, Ethereum and similar platforms require trusted oracle for valuations, settlements, and dispute resolution. And DeFi and developers need to resolve the “oracle problem” before there are other advances.

This is vital because should secure oracles that provide stable data feeds are compromised then DeFi as we know will collapse.

Otherwise, the closed-looped, self-contained nature of ordinary smart contracts won’t allow the full utilization of certain DeFi apps that may require external data for activation.

What is Tellor?

Providing a solution to this is Tellor. It is an Ethereum-based decentralized and secure oracle for DeFi dapps. Tellor is an easy, implementable solution through which DeFi dapps can receive high value data for smart contracts.

Their data feeds are stable and reliable because they make use of staked miners who compete through Proof-of-Work to submit official value for requested DeFi data.

TRBs are mined with each successful data point but a portion of it, 10%, is taken by the company for ecosystem development. This developer share goes to the treasury of the founding team to finance the team’s effort.

Tellor says this is necessary to “maintain a decent token price for profitable mining and a secure network” consequently aligning incentives between miners and Tellor’s founding team.

Tellor: Decentralized Oracle and a Hybrid Consensus Algorithm

Tellor is a project that was built from a need. Its creators had earlier created a startup, Daxia, a derivatives protocol on Ethereum, which required an oracle.

How Tellor (TRB) Decentralized oracle for DeFi dapps work

Daxia would create tokens that represented long, or short sides of a trading pair. To function, an oracle was required for smart contracts to be executed.

For their needs to be met, the team built Tellor, a decentralized oracle that fully met their needs.

Aware that DeFi has the potential of being a multi-billion industry, Tellor has built a network of staked miners where through Proof-of-Work, they can reliably channel secure and stable pricing data for the burgeoning industry.

The Tellor Oracle is an on-chain data bank where miners compete to add data points in return for rewards called “Tributes” or TRB. For miners, they earn a base amount of 5 TRB for every submission and tips as incentivisation.

Interested parties then pay Tributes to submit a request for data to their decentralized Oracle. The oracle then settles on a best funded query and creates a Proof-of-Work challenge for the miner to solve. Each query collects pricing data and makes it on-chain.

As another cushion of security, miners are required to stake their Tributes. To take part, a miner must stake 1,000 TRB. This is to dis-incentivize those who may want to game the system.

The combination of Proof-of-work, a gold standard in consensus, and staking gives the decentralized oracle an edge over competitors. Besides, there is quality since queries are made every 10 minutes.

Tributes is key to Tellor, and their work is to:

  1. Provide security by incentivizing miners and required for dispute resolution—charged as fees. They are also needed for staking.
  2. For the building of a striving and robust Tellor ecosystem and community. This is only achieved by ensuring continuous distribution of the token.
  3. Ensure a sustainable system.

Team

Tellor TRB team

Brenda Boya is the CEO and co-founder. She is an Ethereum developer and a former economist in the US Government. Before that, she was the lead developer and VP of Daxia.

Nicholas Fett is the CTO. He’s actively designing and developing a system for off-chain data access and validation on Ethereum. Before that he was the founder and CEO of Daxia.

Michael Zemrose is the co-founder. He describes himself as an expert in developing, communicating, executing, and sustaining strategic initiatives. Before that he was the Chief Strategy Officer at Daxia.

Partnership

Binance Labs, ConsenSys, and MakerDAO are investors and major partners.

Last year, they also partnered with Radar Relay, a P2P trading platform.

Tokenomics and Distribution

TRB, as aforementioned, is an Ethereum-based utility token that powers the Tellor system. Notably, they didn’t carry out an ICO. Instead, they opted for a developer share. 10% of miner rewards is diverted to the founders’ treasury.

“A dev-share allows us to get the necessary financing we need to create a sustained and secure oracle network, but only if we really deliver a cutting-edge product that’s needed. If we don’t, then the token value will plummet and there won’t be any interest in Tellor, be it miners or actual projects using the oracle.”

“So instead of the project dying while already having raised millions in dollars, we would be left without anything in hand and a failed project. This commitment and proper incentive are what we are after.”

At the time of press, the token is trading at $6.61 with a 24-hour trading volume of $226,265 according to streams from CoinGecko, a coin tracker.

At this level, the token is up 17% in 24 hours and 130% month-to-date. It is down 22% from its all-time high of $8.73 and 35X from its all-time lows of $0.18 registered on Nov 10, 2019.

Tellor TRB Price Action

There will be 1.05 million TRB tokens in total and 960k are already in circulation. The token’s market cap stands at $6,437,774 and is therefore ranked at 270.

TRB is actively traded on IDEX, where the TRB/ETH is the most popular trading pair drawing daily trading volumes of $74,994. Other supporting exchanges include Vitex, Citex, and Bilaxy.

Tellor TRB supporting cryptocurrency exchanges

Furthermore, TRB is available at Bidesk.

Short term Catalysts

  1. Tellor is a project created out of necessity. The team understands what they are trying to solve and their solution resonates well for DeFi dapp creators. As a reflection of their goals, the token soared 33X from its all-time lows of $0.18.
  2. The team tight-knit and experienced. Tellor executives were part of Daxia, a derivatives protocol based on Ethereum.
  3. Tellor has received investments from DeFi industry leader MakerDAO and Binance Labs.
  4. There are rumors that Binance DEX could list the token. Binance DEX is massive and is powered by Binance’s technology. Should they list, the token’s liquidity will increase and that is a net positive.
  5. The idea of giving up and opting for a developer share instead of an ICO reveals their true intention and urge to see the project blossom.

Long-term Catalysts

  • The amount of ETH locked up in DeFi platforms continue to rise. It recently surged past $1 billion mark. Supportive fundamentals from DappRadar further reveals that more people who interacted with blockchain experimented with Ethereum and specifically DeFi. This is huge and for a platform that serves DeFi dapps, it’s only a matter of time before they receive more investments from Fortune 500 companies and the likes.
Tellor Oracle Adoption cycle
  • Their emphasis of security and decentralization is attractive for purists, and over the long term and if DeFi blossoms, this will be a major talk point more so if there is exploitation of other oracle solutions. The security of the network is directly proportional to TRB market rates. The higher, the more secure the platform. Additionally, Tellor’s smart contract has been audited by CertiK.
  • TRB total supply is relatively low and fixed. There is no pre-mine. Tellor’s popularity will only mean more demand for TRB, and market forces will mean a repricing beyond the token’s all-time high.
  • Tellor can work on any chain with smart contracting capability. This means gathering cross-chain information is possible.
  • Development team is working on “creating a secure, scalable, and on-demand Oracle to help smart contracts achieve their true potential.” Research on Zero-knowledge submissions to reduce gas costs and to prevent mirroring, and automatic reporting and monitoring is already been done.

Catch Major Price Moves with MarketWizard App

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Introduction

That food is a basic human need is true. It replenishes and is indeed vital for our general well-being. That is why an increasing number of individuals are conscious and picky on what they consume. After an alarming statistic revealed that an astonishing700 million across the globe are hospitalized and 400,000 dying, caution prevails. Most of these killer ailments are after all, traced back to food related diseases. From the number of casualties, there is clearly a gap in food distribution that requires immediate action.

TE-Food recognizes the urgency of the matter in question by using blockchain technology to roll out a fitting solution. To that end, it is providing a transparent trust-based solution for international operation. The platform seeks to improve food safety, eliminate corruption, enhance fair trade, and build trust between the food supply chain companies, consumers, and authorities in the emerging markets.

The start-up bridges the gap between consumers and the entire supply chain, enabling them to obtain data on food history and its quality through physical identification tools, mobile apps and web-based software solutions in a PPP model.

Team

TE-FOOD is a joint venture (JV) of a Hungarian and a two years old Vietnamese company, currently employing 30 people. The geniuses behind this noble movement are headed by Dr. Trung Dao Ha, the CEO and president of the High-Tech Association of HCMC. He has 20 years of strategic leadership, marketing and sales experience in Asia and Europe.

Working side by side with him is, Erik Arokszallasi CEO, co-founder and leader of two successful corporate IT development companies in Hungary. Erik has a remarkable 23 years of leadership, and IT project management experience.

Assisting them is Marton Ven CMO, who not only has 21years’ experience of marketing, sales and project management but also is a co-founder and marketing leader of two successful corporate IT development companies.

The team is advised by Endre Jobbagy who is very competent in blockchain and business technology. He is the Founder and CEO of Interticket, and a Co-founder of Blockchain Competence Centre, a European management consulting and professional service company specialized in the Blockchain industry.

Dr. Michael Patching acts as an Independent Animal Welfare and Husbandry Advisor. He has a Masters in International Animal Welfare Ethics and Law with over a decade’s experience as a veterinary doctor. Presently, Michael is the current Vietnam Livestock Services Manager for Meat and Livestock Australia.

Roadmap

In Q2 2016, TE-FOOD struck an agreement with the government of Ho Chi Minh City for implementation. Official pig and pork trading in the HCMC region of Vietnam started in Dec 16, 2016. A few months later, more than a 100 chicken farms and egg producers were trained in Q2 2017.

Thereafter, in Q1 2018, TE-FOOD International is founded. Shortly after that, all TE-FOOD rights and contracts were transferred to TE-FOOD International. Q3 2018 marked the implementation of Blockchain as a traceability transaction ledger. Other developments as the Animal antibiotics traceability and the AI based smart pandemic forecasting and alarm modules for the National Livestock Registration system were also introduced.

In Q4 2018, the TE-FOOD Marketplace was launched. Following this feat, in Q1 2019 an extended farm management tools including Food Safety Sensor tools were ready for deployment.

Presently, plans are underway for a further presence in four countries with the service made better thanks the Facial Recognition Feature, a product of their research and development which started in Q3 2018.

Partners

For achievement of their goals, the TE-FOOD has partnered with GS1, a not-for-profit organization. GS1 develops and maintains worldwide standards for business communication. Their interaction enables TE-FOOD to comply with the GS1 standards which are used globally.

Then again, TE-FOOD has a partnership with the New Zealand Trade Centre (NZTC). Of the many things, the objective will be to “implement food traceability from farm-to-table for fruit products exported from New Zealand.”

 A key partner of TE-FOOD, Unisto is a Switzerland based international manufacturer of security seals. The firm provides high quality seals for the organization through Unisto Malaysia.

Aside from this, the company works with The Food and Agriculture (FAO) for statistics purposes helping the firm evaluate their sustainability, feasibility and scalability of existing registries.

By working in conjunction with Zalo, a free message and call mobile application, TE-FOOD’s QR codes can be read by the Zalo app, in order to view the food history.

Other notable partners include Certified Wyoming Beef, Laurel, Halal Trail, Tele Norma, Big Group, Sankofa and QSM. That’s on top of the strategic partnership with the Hungarian Branch of Deloitte.

Token Details and Distribution

In brief, these were the details of their ICO:

Token name: TFOOD

Token symbol: TFD

Type: ERC20

Total token supply: 1,000,000,000 TFOOD

Tokens for sale: 512,000,000 TFOOD (51% of total)

Token sale volume: $19,100,000 (22,924 ETH)

ICO Token Price: 1 TFD = 0.05 USD (0.00004700 ETH)

Token sale dates: Start22.02.2018, End 22.03.2018

Accepted payment options: ETH, BTC, USD, EUR

As a utility, holding TFD grants one access to the platform’s features and functions. Uniquely, and being the first of its kind on the space, TFD is not a security but a certified utility complete with endorsement from the German regulators.

Token Distribution and Fund allocation

50 percent of the total supply, translating to 500 million, was available for public investment. Each token was sold at $0.05 with an ambitious hard cap of $19.1 million.

Of that, 10 percent of all token are set for a marketing pool while 40 percent will be locked up in a general reserve. The lockout period is two years and from there, 25 percent of these tokens will be released after the first year.

Fund Allocation

From $19.1 million raised, 60 percent will cater for market expansion. That will involve marketing, sales, and implementation costs as well. Meanwhile, 25 percent will be channeled towards Research and Development. 10 percent will meet operational costs at the firm’s headquarters while the remaining five percent will address any emerging legal issue.

Changing hands at $0.006, TFD has a market cap of $3 million drawing daily volumes of roughly $27 million across different exchanges. At spot rates, TFD’s return is dismal. It is 0.15X against the USD, 0.53X verse ETH and a discouraging 0.2X in BTC terms.

TFD/ETH Price Analysis

After a deep correction of 2018, TFD is largely consolidating against ETH. However, as the market recovers, TFD could rally. At the time of writing, it is up 4.2 percent. Clearance of 0.000028 ETH will surely pave way for 0.000048 preferably at the back of increasing participation hinting of underlying demand.

Price Catalyst

Short term

There is nothing as impressive as a solution that satisfies the needs of the customer. TE-FOOD does just that. Although the asset plummeted in 2018 as the general crypto space froze and dropped with some start-ups closing shop as finances dried up, the grit and determination of TE-FOOD is bullish.

At spot rates, the asset is down more than 75 percent from peaks. However, that is not to say there is no movement. A simple glance and assessment of the asset’s blockchain activity reveals that it is periodically in the top-10, competing with the likes of EOS and Ethereum.

Then again, and with what they represent, the decision of Vinamilk, one of the largest milk processors in Vietnam to join forces with TE-FOOD is a direct endorsement. Vinamilk draws $6.6 billion in annual revenue and employs more than 6,000people.

Because of TE-FOOD traceability, Vinamilk can “act proactively, and provide transparent information about their products” benefiting the end user who can at a glance read the history of the product using a QR Code.

Long term

It is notable after implementing a traceability framework, the number of food fraud cases increases. This occurs in light of the presence well designed traceability system like TE-FOOD helps authorities to notify fraudulent exercises.

At the point when a food fraud scandal is exposed, governments tend to enforce regulations, by expanding the types of animals to be tracked, the territory of traceability, and so on. This opens doors for TE-FOOD for market development in nations in which they are already present.

The platforms product line is fabricated to help this process by providing synergistic tools for an improved food quality control in the food industry. The company believes the global food traceability solution market will reach $15.1 billion by 2021.

Therefore, as they partner with more market leaders, expanding to Europe, New Zealand and the rest of the world, the value of its token will increase reflecting the value of TE-FOOD as a useful and reliable platform.

In 2018, they made adjustment on their technology side in readiness of more partnership maintaining that their overall objective was to “provide customizable and affordable traceability solutions for companies with any level of technological readiness.” Besides, they are working with other companies to release an AI based meat quality checker that will revolutionize food quality control while introducing farms to deep data analysis improving productivity as a result.

This is so because TE-FOOD believes that the future of traceability and quality control lies on the growth, development and maturity of IoT. Presently, they are seeking to partner with a firm in the IoT sector and thereafter integrate them to the TE-FOOD ecosystem.

Enjoy #DeFi with the Best Prices across Exchanges

Peer to Peer, No KYC, Audited and Insured Smart Contracts