The Consumer Affairs Agency announced that Ajinomoto and Inglewood are suspected of engaging in stealth marketing practices in connection with their frozen home-delivery meal brand, “Aete.” The companies allegedly asked individuals to post on social media in exchange for free products and later republished those posts on sales sites. (News On Japan)
The post First-Ever XRP-Backed Stablecoin Loans Go Live on Flare via Enosys appeared on BitcoinEthereumNews.com.
The Web3 software development entity Enosys has introduced a new type of stablecoin loan to the interoperability layer-1 network, Flare. These loans are backed by Ripple’s native cryptocurrency, XRP. According to a press release sent to CryptoPotato, a Collateralized Debt Position (CDP) protocol will power the loans. It will allow XRP holders to mint overcollateralized stablecoins on Flare. First XRP-backed Stablecoin Loans on Flare Enosys explained that the XRP holdings will back the stablecoins, ensuring they maintain a value close to $1. Through this approach, XRP holders can access the value of their assets without having to sell them. The CDP protocol to be deployed on Flare is called Liquity. Enosys claims Liquity is one of the most tried and trusted protocols in the decentralized finance (DeFi) sector. Since its launch in 2021, the network has secured billions of dollars in collateral and kept its stablecoin peg amid extreme market conditions. One mechanism at the core of Liquity’s success is the protocol’s stability pool. The pool allows users to stake their stablecoins for yield coming from mint fees, liquidation rewards, and interests paid on loans. This mechanism makes sure the protocol can cover outstanding debt in the event of liquidation. Enosys will release a fork of Liquity V2 on Flare, maintaining the features that made the first version trusted. The only changes made will be upgrades like protocol-incentivized liquidity, capital efficiency, and user-set borrowing rates. Access to DeFi Yield Opportunities The alliance between Enosys and Flare will affect a select Flare-native tokens for now. They include Flare XRP (FXRP) and Wrapped Flare (wFLR). The companies intend to expand the capabilities to staked XRP (stXRP) soon, allowing Ripple holders to put their assets to work. Users can lock their FXRP on Flare and mint a stablecoin, which can provide liquidity and…
When Phillip Eng took over the MBTA two years ago, America’s oldest subway system was in a state of disrepair. A string of safety issues,…
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According to officials, the inquiry, ordered by the state government, found evidence of manipulation in registration and allotment of plots in the Jankipuram scheme. Based on the findings, Vigilance registered an FIR under the Prevention of Corruption Act and IPC provisions relating to criminal conspiracy.
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MANILA, Philippines — University of Santo Tomas opened UAAP Season 88 with a large-scale celebration across its España campus on Friday, welcoming 36,629 attendees in an Olympic-style ceremony. The Thomasian community staged the kickoff at the Main Building and Open Field, marking its first hosting since Season 79 in 2016. This year’s theme is “Strength
A 50-year-old man and his three-year-old daughter were crushed to death, while his wife sustained serious injuries, after their motorcycle was hit by a truck on the Mumbai–Nashik Highway near Padgha-Borivali village on Thursday.