Arbitrum Airdrop Confirmed!
March 18, 2023 Crypto Roundup. (Disclaimer: None of the observations or tips in this article constitutes financial, legal, tax, and/or any forms of advice.) Arbitrum
It’s been rumored for months now. Arbitrum! The hottest layer 2 chain of 2022 and 2023 would be rumored to launch an airdrop, and those who play around with the chain, whether by trading, staking, or bridging arbitrage-based tokens, would reap the benefits of a potential arbitrage airdrop.
The Arbitrum Foundation has officially announced that they will be launching their very own governance token, which has excited many investors and crypto enthusiasts around the world. The allocation distribution is as follows:
Arbitrum community and Treasury: 56% of supply and within the community
[Airdrop: 11% of supply; arbitrage DAOs: 1.1% of supply]
Offchain labs and investors: the other 44% of supply.
What is unique about Arbitrum’s token is that it is purely a governance token and will not necessarily be a utility token that is used to pay for gas or transactions. The sole purpose of creating the token was to turn the arbitrage community into a DAO governance model.
So instead of being treated as the token for paying for transactions, Arbitrum will stick with Ether (ETH) as their main transaction payment, and the new Arbitrum tokens will be used for the DAO to make decisions on the smart contract automatically.
This means that the DAO’s decisions are directly coded into the smart contracts of Arbitrum, allowing for direct self-execution once a vote is agreed upon. Of course, there will be a level of double-checking as a team of 12 arbitrum members will oversee code changes. The automated smart contract changes have a delay time so that the council can review the changes as well.
This is very significant due to the fact that Arbitrum has been the fastest growing and one of the most used layer-2 platforms and platforms in general for building out DeFi products and services in the past year, with a ranking of 4th largest chain by TVL according to DeFiLlama and a total TVL of 1.74 billion just behind BSC, and that is without a token at all.
By finally having a token, we will be seeing very interesting price action occur with the new Arbitrum token that could certainly benefit Arbitrum if it reflects the progress that we have seen from Arbitrum. Knowing that Optimism, Arbitrum’s competitor, has a decently performing token, investors are believing that the new Arbitrum token will perform better than that of OP because the network is used much more. The only thing to keep in mind with the new Arbitrum token compared to other layer 2 tokens is that the Arbitrum token is purely meant for treasury and DAO purposes.
Salesforce is a very popular Fortune 500 company that specializes in sales and analytics for companies through its advanced CRM platforms and solutions. For many Fortune 500 companies and startups, their CRM platform of choice is Salesforce due to its popularity and credibility among several companies.
Today, Salesforce just announced that they will be entering the world of NFTs and Web3, as they will be providing services for NFT management pertaining to NFT loyalty programs for their clients. It seems like a big part of their new initiative is to be the onboarder for other Web2 companies to get into Web3 and even help Web3 companies be able to help these clients build out, manage, and integrate NFTs.
And Salesforce being a company that specializes in customer data and business growth, it will also provide both APIs and data platforms for companies to be able to see the success of their NFT integrations, whether for sale or for loyalty rewards.
Salesforce already seems to be gaining quite the traction for their new NFT client services, as they have already brought in 275,000 transactions in their beta phase with very large companies testing out their services, such as Mattel, Scotch and Soda, and Crown Royal.
At a time when it seems like many companies are refraining from entering the world of NFTs, Salesforce is working on becoming the CRM company for NFT projects and integrations, especially in the corporate world, as Salesforce aims to be the company that other Fortune 500 companies come to in order to integrate NFTs and customer experience data into their platforms.
Especially by being a very credible entity in the corporate world, other companies will feel much more comfortable and take on less risk entering the world of NFTs by consulting with Salesforce and learning about how to build a customer relationship through the use of NFTs from Salesforce.
(Source: Diamond Standard)
We have discussed how investors were debating which asset to park their funds in, especially during a time when they could not trust banks, they could not trust fiat, and they could not even trust stablecoins in crypto. Two of the options that substituted for these assets were to just back Bitcoin or to diversify into different kinds of stablecoins with different mechanisms for keeping pegs rather than just being backed by USDC as well.
Certainly, this would be more suitable for those who have a significant amount of distrust in the banking system; however, what we haven’t really brought up is commodities such as gems like diamonds. And not only diamonds that would be hard to carry around and keep safe and such, but tokenizing assets and commodities that are able to protect investors from inflation and bank runs on the blockchain.
In the past week, a company called Diamond Standard became quite popular as investors ran towards digitized diamonds as a way to hedge their funds against the effects that multiple bank shutdowns would have on the economy, and especially seeing that assets like USDC were not keeping their peg, they decided to go with digitized gems instead of something like BTC.
How Diamond Standard works is that they store actual physical diamonds together in a vault, which would be broken up into several tokens on the blockchain; however, they have the actual physical gems on hand. The platform is fully transparent with the supply of these diamonds, and users are able to utilize their marketplace to purchase or sell these digitized diamonds.
I think that for any smart-risk investor in the crypto space, diversifying into assets like diamonds would be not that bad of a move for those who wish to preserve their wealth, as diamonds seem to also be a viable hedge against inflation as well as gold. But the most important takeaway from this model is the fact that we would be able to show ownership of hard commodities like gems on the blockchain. It is a security risk and an absolute hassle to have to store your own gold, platinum, or diamonds inside your property, and it will be absolutely hectic to try and travel with them. Additionally, try to purchase these hard assets on a moment’s notice; you probably will not be able to. But by digitizing these assets on the blockchain, anyone anywhere can invest in and hold onto these precious gems and commodities on the blockchain instead.
March 18, 2023 Crypto Roundup. (Disclaimer: None of the observations or tips in this article constitutes financial, legal, tax, and/or any forms of advice.) Arbitrum
March 17, 2023 Crypto Roundup. (Disclaimer: None of the observations or tips in this article constitutes financial, legal, tax, and/or any forms of advice.) Could
March 14, 2023 Crypto Roundup (Disclaimer: None of the observations or tips in this article constitutes financial, legal, tax, and/or any forms of advice.) All
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The administrator of our Site, provider of the Services and thus controller of your personal information processed in connection for purposes described hereinbelow is Hector Enterprise Inc.
Registered office: Trinity Chambers, PO Box 4301, Road Town, Tortola, British Virgin Islands
We will usually respond to all legitimate enquiries within 30 days. Occasionally it may take us longer if your request is particularly complex or you have made numerous requests. We will notify you and keep you updated.
‘Personal information’ is any information that, either alone or in combination with other data, enables an individual to be directly or indirectly identified (for example, name, email address, contact details, or any unique identifier such as an internet protocol address (‘IP address’), device ID or other online identifier).
We may collect the following basic personal information from you:
You can choose how Cookies are handled by your device through your browser or through our cookie banner, including refusing or deleting all Cookies. If you choose to receive no Cookies at any time, websites may not function properly and certain services may not be provided. Each browser and device is different, so check the settings menu of the browser or device you are using to learn how to change your advertising settings and Cookie preferences.
We may receive information about you from other sources, including third parties that can lawfully share the information with us and help us update, expand, and analyse our records, prevent or detect fraud or other suspicious activities and process payments. In addition, our Site may also include integrated content or links to content provided by third parties (such as live chat, social media content, plug-ins and applications).
Please be informed that we do not process special categories of personal data (such biometric data, data concerning health, racial or ethnic origin, political opinions, etc.).
We do not use either automated decision-making or profiling in terms of your personal information you provide to us.
We may use the information gathered primarily for the following purposes:
We may also use the information we collect:
We retain the information we collect for no longer than is reasonably necessary to fulfil the above purposes and to comply with our legal obligations.
Your personal information as described above is processed by us on a basis of the following legal grounds:
Taking steps prior to entering into a contract and necessity for performance of a contract with you – We may need to collect and use your personal information in order to enter into a contract with you or to perform a contract that you have with us, for example, when you provide personal information to us in order to purchase our tokens, if necessary for such purchase.
In such a case, the provision of your data is necessary in order to enter into a contract and also a contractual requirement as without such data we are not able to enter into a contract with you.
Compliance with legal obligations – We may process your personal information as may be required by respective legal or regulatory obligations that may apply to us.
In this case, the provision of your data is a statutory requirement without which we are not able to comply with our legal obligations.
Our legitimate interests – We may use your personal information for our legitimate interests to improve our Services, thus maintain and develop our business activities as well as to protect and enforce our or third party’s rights, if necessary.
Please be informed that you have the right at any time to object to the processing of your personal information which is based on our or third party’s legitimate interest.
Your consent – We send to you direct marketing e-mails upon your previous consent. Each such e-mail also contains a link that allows you to opt-out from receiving such e-mails, update your contact information or change your preferences at any time.
To withdraw any consent to processing your personal information, please use our electronic form or by clicking on a link provided in every e-mail sent to you to unsubscribe from such marketing electronic communication.
We may disclose information:
Important note: We do not sell, rent, or otherwise share personal information that reasonably identifies you or your organisation with unaffiliated entities for their independent use except as expressly described in this Privacy Notice or with your prior separate consent. We may share information that does not reasonably identify you or your organisation as permitted by applicable law.
When you voluntarily make your personal information available online in our environment shared by third parties (for example, on messaging applications, social media, message boards, web logs, or emails), that personal information may be viewed, saved, collected, heard, used and/or shared by third parties outside of Hector Network. We are not responsible for any unauthorised third party using such information. Please be mindful whenever you share any information in such environments.
Our Site may include integrated content or links to third parties’ content (for example, social media content, plug-ins and applications, video materials, etc.) which are governed by the third parties’ privacy settings and policies, which may differ from this Privacy Notice. This Privacy Notice does not address, and we are not responsible for or able to control, the privacy, security, or other practices of such third parties.
We deploy organisational, technical and physical safeguards designed to protect the information that we collect. This includes, when required or appropriate and feasible, obtaining written assurances from third parties that may access your personal information that they will protect the information with safeguards designed to provide a level of protection equivalent to that adopted by Hector Network.
We may store the information we collect on our servers both cloud-based or in servers located in countries where we or our service providers have facilities. Therefore, we may transfer information to countries outside of your country of residence which may include countries outside the EU member states.
Please note that if you are the EU citizen and provide us with your personal information, it may then be transferred for the purposes stated herein to third countries outside the EU/EEA under conditions set in this Privacy Notice and you consent to this by using our Site or Services.
You have the right to withdraw your consent at any time, without affecting the lawfulness of processing based on consent before its withdrawal. Therefore, the marketing e-mails we send to you include the opt-out link for you to unsubscribe from receiving such communication (as well as update your contact information). We will honour your choice and without delay refrain from sending you such e-mails.
Under local law, you may have certain rights regarding processing of your personal information, in particular, you have the right to request: (i) access to your personal information, (ii) rectification or erasure of your personal information, (iii) restriction of processing concerning you, (iv) objection to processing that is based upon our legitimate interests (as already stated above), and (v) data portability to other service providers.
We are committed to working with you to obtain a fair resolution of any complaint or concern about your privacy. If, however, you believe that we have not been able to assist with your complaint or concern, you may have the right to lodge a complaint with a respective supervisory data protection authority, as applicable, in your jurisdiction.
If you would like to contact us, please use the methods stated above.
Your ability to exercise these rights will depend on a number of factors and, in some instances, we will not be able to comply with your request, for example because we have legitimate grounds for not doing so or where the right doesn’t apply to the particular information we hold on you. Where so entitled to access to your personal information, you will not have to pay a fee unless your request is clearly unfounded, repetitive or excessive (upon which we may charge a reasonable fee or refuse to comply with your request). If you would like to discuss or exercise the rights you may have, you can contact us through the methods stated above.
Please keep us informed if your personal information changes whilst we continue to retain such information. We encourage you to contact us to update or correct your information if it changes or if you believe that any information that we have collected about you is inaccurate or out of date.
We may update this Privacy Notice from time to time and we encourage you to periodically review this Privacy Notice. If we make any material changes to this Privacy Notice regarding the way we collect, use, and/or share the personal information that you have provided, we will notify you by posting notice of the changes on the Site or, if we hold your email address, by email.
The use of certain of our Services may also be governed by other applicable terms and policies regarding privacy and the sharing of personal information, which supplement, and should be reviewed alongside, this Privacy Notice.
Unless otherwise defined in this Privacy Notice, terms used have the same meaning as in the Terms and Conditions.
Effective Date: 10 May 2022
This disclaimer (the “Disclaimer”) explains the terms and conditions governing your access to the https://hector.network/ website (the “Site”) and/or our services as described on the Site (the “Services”; unless the context provides otherwise, the Services shall be deemed to include the Site). This Disclaimer, together with the Terms and Conditions (the “Terms”), forms a binding legal agreement between you and Hector Enterprise Inc., with its registered office at Trinity Chambers, PO Box 4301, Road Town, Tortola, British Virgin Islands (“Hector Network” or “we” or “our” and its derivatives).
You must read this Disclaimer carefully. By accessing the Site and/or using the Services, you signify that you have read, understand and agree to be bound by this Disclaimer in its entirety and understand the risks related to the Services and crypto-assets in general. You agree to comply with this Disclaimer even if our methods to prevent the use of the Services are not effective or can be bypassed. If you do not agree with anything in this Disclaimer, you may not use the Services. We may implement controls to restrict access to the Services from any jurisdiction or persons prohibited pursuant to this Disclaimer.
You agree to indemnify and hold Hector Network harmless from any losses, costs, liabilities and expenses (including legal fees) relating to or arising out of: (a) your use of, or inability to use, the Services; (b) your violation of this Disclaimer or the Terms; (c) your violation of any rights of another party, including but not limited to any other users of the Services; or (d) your violation of any applicable laws.
Hector Network may, at its own discretion, assume the exclusive defense and control of any matter otherwise subject to indemnification by you, in which event you shall fully cooperate with Hector Network in asserting any available defenses. This provision does not require you to indemnify Hector Network for any fraud, gross negligence, or willful misconduct of Hector Network.
You confirm that you fully understand that (i) our crypto products and related services are unregulated and can be highly risky; (ii) there may be no regulatory recourse for any loss from crypto-related transactions; (iii) investment in crypto-assets or similar products carries a high risk, may not be suitable for retail investors and the entire amount invested may be lost.
Hector Network is not a bank, securities firm, financial institution, financial services provider or provider of similar services and does not provide investment, tax or financial advice, financial services or consulting services to users of the Services. We are solely the provider of the Services. Your logged digital assets are not covered by insurance against losses or subject to any deposit insurance schemes or protections.
You understand that you are solely responsible for any tax reporting and payment, levies or similar duties applying to you in relation to your use of the Services (including but not limited to your purchase and/or sale of any digital assets) and you agree to hold us harmless and indemnify us for any tax-related obligations applicable to you in relation to your use of the Services.
You may not use the Services if you are located in, or are a citizen or resident of any state, country, territory or other jurisdiction where your use of the Services would be illegal or where your use of the Services would amount to any violation of any applicable law either by you or by Hector Network, which is your obligation to check before using the Services, including but not limited to:
any jurisdiction for which the Services, or any offer or solicitation in respect of the Services, would require registration or licensing or otherwise would be unlawful.
The Services are also not available to any person who is the subject of economic or financial sanctions or trade embargoes administered or enforced from time to time by (a) the U.S. government, including those administered by the Office of Foreign Assets Control (OFAC) or the U.S. Department of State or (b) the United Nations Security Council, the European Union or Her Majesty’s Treasury of the United Kingdom; or (c) any other relevant sanctions authority (“Sanctions”) or is organized or resident in a country or territory that is the subject of country-wide or territory-wide Sanctions.
The information on this page and all other pages owned, operated by, or related to Hector are for educational purposes only and do not constitute any sort of advice. Cryptocurrencies, NFTs and other blockchain offerings are unregulated assets and users should do extensive research into how they work, the potential risks and the tax liability of owning them in their native regions. Users should carefully read all the documents above before accepting.