Circle Launches USDC Blockchain on Cosmos (ATOM) – Avorak AI Shoots 75% into Phase Two
Circle’s prospect of a USDC blockchain launch on Cosmos has gained attention for its potential to improve interoperability and scalability. In other news, Avorak AI, a new AI crypto, has seen a 75% increase in value, reflecting the growing interest and hope in the new AI crypto space.
What is Cosmos (ATOM)?
Cosmos is a decentralized ecosystem of independent blockchains connected through the Cosmos Hub. It allows for interoperability between different blockchains, so that they can communicate and exchange value in a decentralized and secure way. The Cosmos network uses Tendermint, a Byzantine Fault Tolerant (BFT) consensus algorithm, to achieve fast transaction processing and high throughput. ATOM is the ecosystem’s original token and is used for stakes, settlement of transaction costs and governance. ATOM’s price has been on the rise as several projects, such as USDC, aim to scale through it. This blockchain-to-blockchain communication will be crucial in the near future, and ATOM’s price may reach new heights.
USDC at Cosmos
Circle, the company behind USD Coin (USDC), announced plans to launch a new USDC blockchain on the Cosmos (ATOM) network. This move is intended to provide greater interoperability and extend the reach of USDC across different blockchain networks. USDC on Cosmos will be fully compatible with existing USDC tokens on Ethereum, enabling seamless cross-chain transfers and usage. The launch of USDC on Cosmos also opens up new opportunities for decentralized applications (dApps) and smart contract platforms, enabling them to natively integrate USDC and leverage the benefits of the Cosmos ecosystem.
USDC latest news
Despite the potential launch on Cosmos, USDC’s latest news will have a significant effect on its market cap. Over the weekend, USDC lost its peg to the US dollar as a result of the collapse of Silicon Valley Bank (SVB). The collapse caused investors to withdraw their USDC in the billions, causing the token to fall below $1. This news has raised suspicions about Circle’s reserve capability. This is because investors are seeing patterns comparable to what happened before the TerraUSD (UST) crash.
What is Avorak AI?
Avorak AI is a project about the recently booming AI crypto space. Avorak integrates blockchain and AI technology to provide products and services that help streamline our individual lives and businesses.
The platform’s native token, AVRK, will be used to access the AI solutions. AVRK’s wide range of use cases include staking, holding to earn a share of revenue, liquidity farming on decentralized exchanges (DEX), and finally a gas token when Avorak launches a native blockchain, the Avorak Network.
Avorak’s foundation on the Binance Smart Chain and successful audit of CyberScope increase confidence in the project’s security and transparency. Cilinix Crypto and AlienCrypto highlight many different aspects of Avorak in their recent YouTube videos.
Advantages of Avorak’s ICO
Avorak’s ICO offers a number of benefits to investors who obtain AVRK tokens through it. These have made it a hot topic among crypto users on Twitter such as Hailey LUNC and AngelXBT. Through Avorak’s sliding scale of price increases and token bonuses, early investors are guaranteed up to a 350% increase in their investment when Avorak launches. ICO participants also receive priority stakes. This allows them to have priority access to Avorak’s various stake pools over open market token holders.
ICO investors additionally gain access to closed beta product testing, allowing them to assist Avorak’s AI ‘AVA’ in deep field learning exercises, explore user interface controls and provide feedback. Through these tests, users directly contribute to the development of Avorak AI and the goal of becoming the leading blockchain-powered AI platform.
Avorak’s phase 2 of the ICO event
One of ICO’s main advantages is the discounted price it offers. Avorak’s ICO has caused a stir in the crypto world as far back as February. The project launched its ICO on March 1, with 1 AVRK selling at $0.060, offering a 10% bonus. Phase 1, which ended on March 10, was quite impressive. Avorak acquired a large number of investors, even securing a $50,000 OTC deal.
The current Phase 2, which started on March 11, saw a 75% increase in AVRK’s price, reaching $0.105. The bonus is currently 9%. This phase offers investors who missed the first phase to still benefit from the low price and high bonus before the price increases and the bonus decreases in the next phase.
For more information about Avorak AI and its ICO:
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