Partner Updates

Bitfinity’s Blockchain Bash: Sixth Strategy Summit

Discover Blaze's latest partnerships enhancing Bitfinity's ecosystem through decentralized finance, payments, identity, and NFT capabilities alongside AI-driven transaction security.

Another week, another set of deals. This week Blaze wandered further on its quest to create lasting partnerships and shake hands (paws). Forever solidifying his commitment to build the new layer that will unlock the full potential of Bitcoin.

Let's take a look at the partnerships we made this week.

Blaze is Gathering Partners for His 'Partner' Spaceship

Bitfinity and FrogPay AI 🤝

FrogPay is first in line and is a protocol that offers an interesting feature. As the world's first AI-powered crypto payment system with a refund option, it is aimed at making decentralized transactions safer and more reliable.

In today's blockchain age, we do not support the reversal of transactions, meaning once you make a peer-to-peer payment, you cannot request a chargeback. This is the great responsibility that comes with the great power. But this irrevocability, while securing the blockchain against certain types of fraud, also leaves room for scammers, as there is no recourse for victims of fraud, undermining safety and trust in the Web3 environment.

FrogPay is set to initiate an epochal change by introducing the world's first chargeback system for Web3.

FrogPay is unique because it integrates decentralization with security measures. The platform features a Revolutionary Jury Dispute Management (JDM) system that ensures fairness and decentralization through anonymous votes and allows users to earn by judging transactions.

This assurance of dispute resolution significantly builds user trust, especially in unfamiliar or new transaction environments such as in crypto. FrogPay envisions a Web3 environment where PayPal-like convenience, enhanced data privacy, and greater control over finances are the norms. The goal is to enable crypto payments without the fear of fraud.

Team Behind FrogPay

The core team includes co-founders Antonino Bali (CEO) and Abhishek Priya (CTO), whose combined experience and vision drive FrogPay's innovative approach to blockchain transactions.

Role of the FRGP Token

The FRGP token serves as the lifeblood of this ecosystem, providing the necessary incentives and governance structure to align the goals of various stakeholders within the protocol.

By requiring users to stake FRGP tokens to participate as jurors or dispute analysts, the protocol fortifies itself against malicious actors. Users, especially merchants and businesses, can leverage these features, such as early withdrawal of funds, increased transaction limits, and reduced transaction fees.

The associated Decentralized Autonomous Organization (DAO) sets the fee structures, determines revenue distribution and authorizes protocol upgrades and new feature rollouts.

Roadmap for FrogPay

FrogPay's development is structured into several phases, each marking significant milestones:

Phase 1 (Q3 2023): Formation of the core team, research and development, WhitePaper release, and Proof of Concept.
Phase 2 (Q4 2023): Development of the first stage, community building, and securing initial business and co-marketing partnerships.
Phase 3 (Q1 2024): Beta release on Polygon Testnet Mumbai, community airdrop, and private sales.
Future Phases: Include mainnet launches, mobile app development, integration of on-ramp/off-ramp crypto to fiat solutions, and expansion into new marketplaces and technologies.

FrogPay AI is also actively participating in community educational events. For instance, they hosted an AMA session to dive deeper into their project.

There is one hour until the AMA.

We will raffle $50 USDT to two random listeners.

To join:
1. RT and like this Tweet.
2. Tag Two Friends

Also he best question will be rewarded with $100 worth of $FRGP token

Set a reminder here:https://t.co/QOcHmBHeOd
— P2PBET (@P2P_BET) August 30, 2024

By partnering with Bitfinity, FrogPay users will now be able to utilize the support of the Bitfinity EVM. This integration enables users to make payments with tokens supported by both the Bitcoin and Bitfinity EVM networks.

A collaboration that aims to enhance blockchain interoperability altogether and advance smart contract capabilities within Web3.

Connect and Learn More About FrogPay AI

Bitfinity and Native Network 🤝

Native is introducing a new way to scale and enhance Bitcoin with the first native Bitcoin Application Layer built on Zero Trust Architecture. This approach focuses on strong security by requiring continuous authentication and verification for every action, making it highly secure and decentralized. Unlike other solutions, Native uses Bitcoin itself for staking and governance, eliminating the need for risky bridging mechanisms. The system also relies on the dWallet Network, which uses advanced cryptography to ensure secure transactions and prevent control over assets.

Native also expands Bitcoin’s capabilities by allowing smart contracts within a decentralized environment, starting with CosmWasm and later integrating EVM and MoveVM based on developer preferences.

CosmWasm, built with the Rust programming language, is easier to program and offers better security than some other blockchain platforms. By focusing on security, scalability, and efficiency, Native sets itself up as a key platform for developing secure and scalable decentralized financial products and services on the Bitcoin network.

The core principle of Native Network

Trust Nothing : Native follows a Zero Trust model, requiring continuous verification for every action. This eliminates reliance on centralized authorities and ensures a secure, decentralized environment.
Build Native : Native is built on Bitcoin, leveraging its security and network effects. By focusing on native Bitcoin assets and avoiding complex bridging, we create a seamless platform for decentralized applications.
Everyone is an Insider : Native encourages inclusivity by giving every community member a voice in shaping the platform. Through transparency and participation, all can contribute to the ecosystem's growth.

Ecosystem Growth Flywheel of Native Network

Native’s growth flywheel creates a cycle where developers build, founders lead, the community engages, and investors provide funding. This boosts market recognition, attracting more members and encouraging further development. By focusing on community involvement, economic incentives, and strong governance, Native ensures ongoing innovation that prioritizes decentralization, security, and programmability.

The partnership between Bitfinity Network and NativeNetwork combines the power of BLISS and BitFusion to create innovative cross-chain solutions, connecting Bitcoin, EVM networks, and more. This collaboration aims to accelerate the development of scalable decentralized applications, driving advancements in DeFi, NFTs, and the metaverse.

By joining forces, Bitfinity and NativeNetwork are empowering developers to build the next generation of Web3 services, pushing the boundaries of blockchain technology and fostering a more interconnected ecosystem.

Connect and Learn More About Native Network

Bitfinity and coNFT 🤝

What is happening with NFTs today - coNFT App.

Research and analyze with coNFT.app. The choice is always yours

coNFT App.

oNFT, previously Artoshi, is a dynamic multi-chain NFT platform that integrates blockchain services including a Web3 Name Service, NFT Aggregator, and a Launchpad. It is a central hub for NFT activities.

Users can participate in various activities by engaging in challenges and minting events that are designed to enhance user engagement and reward participation with unique NFTs and potential rewards.

What is NFT Lending?

NFT lending involves using Non-Fungible Tokens, a unique type of blockchain-based asset, as collateral to secure loans. This process allows NFT owners to unlock the financial value of their digital assets without having to sell them.

In essence, NFT lending provides a platform where borrowers can pledge their NFTs to receive fiat currency or cryptocurrency loans, while lenders earn interest on the funds they lend.

The NFT lending process on coNFT typically follows these steps:

Collateralization: An NFT owner places their digital asset into a smart contract as collateral.
Loan Agreement: Terms of the loan, including duration, interest rate, and loan amount, are agreed upon by the borrower and the lender.
Funding: Once the NFT is locked in the smart contract, the lender provides the loan amount to the borrower.
Repayment: The borrower is expected to pay back the loan within the agreed timeframe, including any accrued interest.
Asset Retrieval: Upon successful repayment, the smart contract releases the NFT back to the borrower. If the borrower fails to repay, the lender can claim the NFT as compensation.

Fractional Tokens on coNFT

Fractional tokens are a way of managing and storing NFTs. They can be stored securely within the NFTX vault and are then fractionized into tokens. This process saves up to a lot on fees and gas, and makes it a more cost-effective option for NFT enthusiasts.

By owning fractional tokens, you gain partial ownership of the NFTs represented by these tokens. This shared ownership model allows for a more accessible entry point into the NFT market.

Enthusiasts can explore categories ranging from Art, featuring digital pieces by both emerging and established artists, to the Metaverse, where users interact in virtual spaces, ideal for tech aficionados and gamers. Collectibles include digital versions of traditional items like trading cards, appealing to collectors, while PFP (Profile Picture) and so on...

Decentralization Rates Influence NFT Collections

Decentralization in NFT collections typically relates to the spread of ownership among holders. Collections with higher decentralization rates are seen as less prone to price manipulations due to the diverse ownership base. Conversely, collections with lower decentralization might face risks if a few holders decide to sell off their assets suddenly, potentially leading to a rapid decline in floor prices.

By integrating with Bitfinity, CoNFT will benefit from improved Ethereum Virtual Machine (EVM) compatibility and accelerated transaction times. This enhancement will allow CoNFT to deliver more efficient and scalable solutions.

The collaboration aims to enable CoNFT to offer seamless blockchain-powered events to a broader audience. With the technological boost from Bitfinity, CoNFT is set to revolutionize how conferences are organized and attended on a global scale.

Connect and Learn More About CoNFT

Conclusion

As another eventful week wraps up, Blaze continues onward through the crypto universe, securing 'otter' valuable alliances that are set to redefine the landscape of Bitcoin and make room for new technologies that enhance it further. We are thrilled to announce our latest collaborations:

FrogPay AI, which is revolutionizing the crypto payment space with its innovative AI-driven refund system, making digital transactions more secure and trustworthy.
Native Network, unite to drive cross-chain innovation, connecting Bitcoin, EVM networks, and more. Together, they empower developers to build the next generation of scalable decentralized applications and Web3 services!
coNFT, which provides a comprehensive platform for NFT enthusiasts to engage, trade, and leverage their digital assets in more innovative ways.

Each partnership is a step towards enhancing the Bitfinity ecosystem, contributing unique capabilities that support our mission to evolve Bitcoin beyond its original scope.

With the integration of the Bitfinity EVM and these strategic partnerships, we are excited to push the boundaries of what's possible in the DeFi and NFT spaces.

Bitfinity Partnerships Matter

Our strategic alliances are instrumental in building a more interconnected and extensive Bitcoin blockchain. Each partner brings something unique to the table—be it technological innovation, market reach, or industry expertise—making our network stronger as before.

For further insights into how these partnerships are transforming our platform and to stay informed about future collaborations, keep following the Bitfinity Blog. Connect with us on our social channels to get real-time updates and behind-the-scenes looks at how we're building a smarter, more connected crypto future.

Curious about Blaze's journey and the innovative partners he's met along the way Otter adventures await below! 🦦🦦👇

Connect with Bitfinity Network

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Bitfinity’s Blockchain Bash: Sixth Strategy Summit