Home / Trend News /ZoidPay Announces The Launch Of ZETA, The First On-Demand Metaverse

ZoidPay Announces The Launch Of ZETA, The First On-Demand Metaverse

01 Nov 2022

Following the Terra stablecoin collapse last May, the Terra blockchain ecosystem has another stablecoin concept in the works called “Solid.” The stablecoin Solid and its white paper were revealed by a decentralized finance (defi) project, Capapult Finance, and the idea has been dubbed a “soft-pegged stablecoin” built on Terra.

Roughly five months ago, the crypto community experienced some dark days when the stablecoin terrausd (UST), now called terraclassicusd (USTC), depegged from its $1 parity. Today, USTC is changing hands for $0.03 per unit and the obliterated Terra blockchain ecosystem moved to a new network called the Phoenix blockchain.

With the Terra 2.0 network launch, the crypto community was introduced to a new native crypto called terra (LUNA) 2.0. Following the stablecoin depegging incident, which wreaked havoc across the entire crypto economy, a defi project called Capapult Finance says it plans to launch a new “soft-pegged stablecoin” built on top of the Terra network called “Solid.” The stablecoin concept was revealed in a white paper called “Solid, a Soft-Pegged Stablecoin on Terra.”

The project’s white paper describes Solid as an “over-collateralized and fully decentralized soft-pegged stablecoin on Terra.” Unlike the original Terra blockchain white paper co-authored by Do Kwon, the authors of the Solid white paper are represented by the six alpha-numeric digits of two addresses — “0x7183, 3A2k4j.”

The white paper published on Oct. 19, 2022, stresses that there’s a need for stable assets in the world of defi, but fiat-backed stablecoins don’t cut it, according to the white paper’s authors. “Fiat-backed stablecoins are not in the owners’ control, as was showcased by the Tornado Cash ban,” the white paper notes. The stablecoin’s paper, hosted on the Capapult Finance website, adds:

Thus, to make blockchain technology more common there needs to be an asset with minimal volatility, one that is as decentralized as possible. It is becoming more obvious each and every day that decentralized money needs a decentralized stablecoin.

The paper says Solid will be minted using a collateralized debt position (CDP) scheme similar to Makerdao, and users deposit interest-earning collateral and borrow the stablecoin. The mechanism also works alongside Capapult Finance’s governance token CAPA, and the project claims to “bring honesty and trust to Web3, join us in our journey to a fully decentralized ecosystem.”

Solidus or Solid claims to offer low volatility and stability via the interest-earning collateral held on the Capapult protocol. As far as the Capapult protocol’s website is concerned, the site says the application is “coming soon.” At the time of writing, the entire stablecoin economy is valued at $146.44 billion and the top two stablecoins (USDT & USDC) are fiat-backed crypto assets. Two projects within the stablecoin economy that leverage a CDP method, or over-collateralized scheme, include Makerdao’s DAI and Tron’s USDD.

It’s worth noting that a number of crypto supporters believe the onset of the harsh crypto winter was fueled by Terra’s demise. Some of the accusations directed at Terraform Labs executives like Do Kwon, and failed projects like the defi lending platform Anchor, have further tainted the community’s trust in the Terra ecosystem.

While the Capapult Finance website promises the project will bring “honesty and trust to Web3,” it will be interesting to see if the crypto community trusts a stablecoin built on a fractured blockchain ecosystem like Terra.

What do you think about the soft-pegged stablecoin idea that the defi project Capapult Finance says it plans to launch? Let us know what you think about this subject in the comments section below.

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Ripple CEO: SEC Lawsuit Over XRP 'Has Gone Exceedingly Well'

The CEO of Ripple Labs says that the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) against him and his company over XRP "has gone exceedingly well." He stressed: "This case is important, not just for Ripple, it’s ... read more.

Following the Terra stablecoin collapse last May, the Terra blockchain ecosystem has another stablecoin concept in the works called “Solid.” The stablecoin Solid and its white paper were revealed by a decentralized finance (defi) project, Capapult Finance, and the idea has been dubbed a “soft-pegged stablecoin” built on Terra.

Roughly five months ago, the crypto community experienced some dark days when the stablecoin terrausd (UST), now called terraclassicusd (USTC), depegged from its $1 parity. Today, USTC is changing hands for $0.03 per unit and the obliterated Terra blockchain ecosystem moved to a new network called the Phoenix blockchain.

With the Terra 2.0 network launch, the crypto community was introduced to a new native crypto called terra (LUNA) 2.0. Following the stablecoin depegging incident, which wreaked havoc across the entire crypto economy, a defi project called Capapult Finance says it plans to launch a new “soft-pegged stablecoin” built on top of the Terra network called “Solid.” The stablecoin concept was revealed in a white paper called “Solid, a Soft-Pegged Stablecoin on Terra.”

The project’s white paper describes Solid as an “over-collateralized and fully decentralized soft-pegged stablecoin on Terra.” Unlike the original Terra blockchain white paper co-authored by Do Kwon, the authors of the Solid white paper are represented by the six alpha-numeric digits of two addresses — “0x7183, 3A2k4j.”

The white paper published on Oct. 19, 2022, stresses that there’s a need for stable assets in the world of defi, but fiat-backed stablecoins don’t cut it, according to the white paper’s authors. “Fiat-backed stablecoins are not in the owners’ control, as was showcased by the Tornado Cash ban,” the white paper notes. The stablecoin’s paper, hosted on the Capapult Finance website, adds:

Thus, to make blockchain technology more common there needs to be an asset with minimal volatility, one that is as decentralized as possible. It is becoming more obvious each and every day that decentralized money needs a decentralized stablecoin.

The paper says Solid will be minted using a collateralized debt position (CDP) scheme similar to Makerdao, and users deposit interest-earning collateral and borrow the stablecoin. The mechanism also works alongside Capapult Finance’s governance token CAPA, and the project claims to “bring honesty and trust to Web3, join us in our journey to a fully decentralized ecosystem.”

Solidus or Solid claims to offer low volatility and stability via the interest-earning collateral held on the Capapult protocol. As far as the Capapult protocol’s website is concerned, the site says the application is “coming soon.” At the time of writing, the entire stablecoin economy is valued at $146.44 billion and the top two stablecoins (USDT & USDC) are fiat-backed crypto assets. Two projects within the stablecoin economy that leverage a CDP method, or over-collateralized scheme, include Makerdao’s DAI and Tron’s USDD.

It’s worth noting that a number of crypto supporters believe the onset of the harsh crypto winter was fueled by Terra’s demise. Some of the accusations directed at Terraform Labs executives like Do Kwon, and failed projects like the defi lending platform Anchor, have further tainted the community’s trust in the Terra ecosystem.

While the Capapult Finance website promises the project will bring “honesty and trust to Web3,” it will be interesting to see if the crypto community trusts a stablecoin built on a fractured blockchain ecosystem like Terra.

What do you think about the soft-pegged stablecoin idea that the defi project Capapult Finance says it plans to launch? Let us know what you think about this subject in the comments section below.

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Ripple CEO: SEC Lawsuit Over XRP 'Has Gone Exceedingly Well'

The CEO of Ripple Labs says that the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) against him and his company over XRP "has gone exceedingly well." He stressed: "This case is important, not just for Ripple, it’s ... read more.

Meme coins remained higher on Tuesday, despite cryptocurrency markets mostly trading in the red. Dogecoin is now over 130% higher in the last week, as the token climbed to its highest point since April. Shiba inu was also higher, climbing back above a key price ceiling.

Dogecoin (DOGE) extended recent gains on Tuesday, as the token surged to a fresh multi-month high.

Following a low of $0.117 to start the week, DOGE/USD raced to an intraday peak of $0.1572 during today’s session.

The rally sees the meme coin move to its highest point since April, and as of writing it is trading over 130% higher from the same point last week.

This recent surge in dogecoin comes as Tesla CEO and long-term meme coin supporter Elon Musk recently completed his takeover of Twitter.

On Tuesday, Musk also tweeted a picture of a shiba inu dog wearing a Twitter banner, which some believe could be an endorsement.

As of writing, the 14-day relative strength index (RSI) is now tracking at 90.24, which is the highest point for the index in over a year.

Following the tweet from Elon Musk, shiba inu (SHIB) was also higher, as prices climbed above a key resistance level.

SHIB/USD surged to a high of $0.00001345 earlier in today’s session, gaining for a second straight day in the process.

As referenced earlier, the move came as the meme coin rose past its recent ceiling of $0.00001300.

Looking at the chart, the RSI for SHIB is currently tracking at 65.30, which is slightly under the next visible ceiling of 70.00.

Should price strength continue to rise, we could see bulls attempt to recapture last Saturday’s high of $0.00001518.

Both the 10-day (red), and 25-day (blue) moving averages appear to be trending higher, which is another positive indication for bulls.

Register your email here to get weekly price analysis updates sent to your inbox:

Tags in this story
Analysis, Doge, dogecoin, Meme Coin, memecoin, shib, shiba inu

Could we see shiba inu recapture recent highs this week? Let us know your thoughts in the comments.

Eliman brings an eclectic point of view to market analysis, he was previously a brokerage director and retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Fidelity Investments Launches Crypto, Metaverse ETFs — Says 'We Continue to See Demand'

Fidelity Investments, one of the largest financial services firms with more than $11 trillion under administration, is launching exchange-traded funds (ETFs) focusing on the crypto ecosystem and the metaverse. "We continue to see demand, particularly from young investors, for access ... read more.

Meme coins remained higher on Tuesday, despite cryptocurrency markets mostly trading in the red. Dogecoin is now over 130% higher in the last week, as the token climbed to its highest point since April. Shiba inu was also higher, climbing back above a key price ceiling.

Dogecoin (DOGE) extended recent gains on Tuesday, as the token surged to a fresh multi-month high.

Following a low of $0.117 to start the week, DOGE/USD raced to an intraday peak of $0.1572 during today’s session.

The rally sees the meme coin move to its highest point since April, and as of writing it is trading over 130% higher from the same point last week.

This recent surge in dogecoin comes as Tesla CEO and long-term meme coin supporter Elon Musk recently completed his takeover of Twitter.

On Tuesday, Musk also tweeted a picture of a shiba inu dog wearing a Twitter banner, which some believe could be an endorsement.

As of writing, the 14-day relative strength index (RSI) is now tracking at 90.24, which is the highest point for the index in over a year.

Following the tweet from Elon Musk, shiba inu (SHIB) was also higher, as prices climbed above a key resistance level.

SHIB/USD surged to a high of $0.00001345 earlier in today’s session, gaining for a second straight day in the process.

As referenced earlier, the move came as the meme coin rose past its recent ceiling of $0.00001300.

Looking at the chart, the RSI for SHIB is currently tracking at 65.30, which is slightly under the next visible ceiling of 70.00.

Should price strength continue to rise, we could see bulls attempt to recapture last Saturday’s high of $0.00001518.

Both the 10-day (red), and 25-day (blue) moving averages appear to be trending higher, which is another positive indication for bulls.

Register your email here to get weekly price analysis updates sent to your inbox:

Tags in this story
Analysis, Doge, dogecoin, Meme Coin, memecoin, shib, shiba inu

Could we see shiba inu recapture recent highs this week? Let us know your thoughts in the comments.

Eliman brings an eclectic point of view to market analysis, he was previously a brokerage director and retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Oman to Incorporate Real Estate Tokenization in Virtual Assets Regulatory Framework

Real estate tokenization is set to be incorporated into Oman Capital Markets Authority (OCMA)'s virtual asset regulatory framework. According to an advisor with the authority, the tokenizing of real estate will open investment opportunities for local and foreign investors. Real ... read more.

PRESS RELEASE. 1st Nov 2022, Bucharest, Romania — As part of its commitment to democratize access to the next generation of Web 3.0 Financial Services, ZoidPay has announced the launch of ZETA, the first on-demand Metaverse.

What is ZETA?

Integrating Augmented Reality (AR), Virtual Reality (VR), and Extended Reality (XR), ZETA allows users to extend their reality with evolving utility. For example, users interested in retail will be able to explore many day-to-day experiences in the Metaverse, besides access to a host of Web 3.0 Financial Services, in a fully immersive digital experience.

Eduard Oneci, CEO & Co-Founder at ZoidPay, stated:

“Built entirely in-house, ZETA aims not just to let anyone access the Metaverse, but offers an opportunity to be an active part of it. The potential is unlimited. As the first on-demand Metaverse, we offer an open architecture that lets anyone create a customized Metaverse. So, we invite developers to get in touch with us with their requirements, and we’ll build them a customized digital world,”

Imagine walking into a bank branch in the ZETA Metaverse as an Avatar of your choice, welcomed by a bank employee ready to understand your financial needs before presenting you with tailored solutions. The switch from TradFi to DeFI is set to happen now. Click here for a video preview of what Zeta is all about.

Zeta Use Cases

From retail to banking, entertainment to education, ZETA promises to be the go-to destination for all users’ day-to-day experiences. With ZETA, ZoidPay is set to extend its open architecture for all businesses to create their own customized Metaverse.

Business clientele, including blockchain projects, developers, or merchants, can use ZETA to create their own customized Metaverse aligned with the needs of their customers. Use cases for businesses can range from market testing while allowing users to interact with a new product or service to replicating a real-life experience in a virtual environment to gathering user feedback.

As per a recent estimate by Global Data, the global Metaverse market size, valued at $22.79 Billion in 2021, is expected to grow at a compound annual growth rate (CAGR) of 39.8% during 2022-2030.

Eduard Oneci continues:

“Almost every industry, be it healthcare & personal care, automotive, entertainment, travel & leisure, or eCommerce, has a use case in the Metaverse. At ZETA, we aim to introduce businesses to this opportunity. We can present use cases on how a business can leverage the Metaverse for real-life benefits,”

Web 3.0 Services & Next-Gen Apps

ZoidPay is currently forging partnerships with leading brands and merchants to join ZETA, with the potential of offering users an immersive experience unlike any other. All of this will be provided in an environment meant to protect the user’s data which is of utmost importance.

ZETA will also act as a platform to showcase all the disruptive products and services ZoidPay has planned as the go-to open architecture for building the next generation of Web 3.0 financial services. Leading among these will be the availability of APIs and SDKs, allowing developers to build the next-gen of financial Apps and dApps, and test these with an audience in the Metaverse.

With ZETA, ZoidPay will be at the forefront of the Web 3.0 revolution, leveraging its technological expertise in blockchain development to further develop its ecosystem and facilitate the development of blockchain applications that have a real-world use case. Anyone who wants to create their very own customized Metaverse can learn more here.

About ZoidPay

ZoidPay was established in 2018 as the go-to open architecture for building the next generation of Web 3.0 financial services. It is a one-stop crypto liquidity solutions provider, enabling instant card issuance for purchases from any merchant at the lowest fees. For B2B clientele, ZoidPay offers full support APIs and SDKs to developers & financial businesses that want to build next-gen Web 3.0 financial services.

ZoidPay Socials

Twitter | Telegram | Discord | Facebook | Instagram | LinkedIn

Media Contact Details

Contact Name: Elena Oglinda

Contact Email: marketing@zoidpay.com

ZoidPay is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest

 

 

 

This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

Bitcoin.com is the premier source for everything crypto-related. Contact the Media team on ads@bitcoin.com to talk about press releases, sponsored posts, podcasts and other options.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Fidelity Investments Launches Crypto, Metaverse ETFs — Says 'We Continue to See Demand'

Fidelity Investments, one of the largest financial services firms with more than $11 trillion under administration, is launching exchange-traded funds (ETFs) focusing on the crypto ecosystem and the metaverse. "We continue to see demand, particularly from young investors, for access ... read more.

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