NewsCrypto monthly report
The month of May has been extremely volatile for crypto, but it was also by far the biggest month yet for us here at NewsCrypto. We released tons of new features and expanded into new areas, and we’re still just getting started. Here, we’ll cover some of the most important developments, from new partnerships to upgrades to our existing products.
We’ve launched our DeFi testnet, where a hundred lucky randomly picked users can already try out the lending and borrowing platform we’re developing. We’re aiming to create the most user-centric, frictionless DeFi platform that will provide highest interest rates for savings, lowest fees, no minimum investment levels and fast settlements. Once released, every NWC holder will be empowered to lend and earn interest, borrow and use their NWC as collateral to borrow other assets against it.
For all you crypto enthusiasts that like to educate your pals about blockchain every once in a while, we’re preparing the “Unchained education hub” where you’ll be able to spread and monetize your knowledge! We’ve released an announcement about this back in April but we’re working hard, preparing everything necessary before we open up applications. Stay tuned to make sure you catch the official release and be among the first to apply.
One of our most exciting developments of this month was the launch of our AI Sentiment tool. It automatically collects data from various news sources including Twitter and analyzes the sentiment around chosen cryptocurrencies.
The sentiment analysis is then used for predicting what price the crypto will reach the next day. At the moment it is tracking the movements of seven tokens, including Bitcoin, Ethereum and Ripple, and we’re hoping to expand that pool. Currently the tool can only predict the price on the daily timeframe, but the team is working tirelessly to add shorter timeframes as well.
Even though we’re continually monitoring and tweaking AI performance with the help of machine learning, the tool already made many impressively accurate predictions.
We’ve also opened up a new NWC academy section that revolves around crypto privacy. It was developed with the help of the team behind PirateChain, an emerging privacy cryptocurrency that became our partner. Together we’re preparing superb educational content so that even the newcomers will be able to quickly understand all important aspects, challenges and solutions to crypto privacy.
While on the topic of partnerships, we’ve announced another one, this time with CypherBlade, the world’s number one blockchain investigation agency. Our partnership will be far reaching and one of the first things we’ll do together will be to prepare a whole segment on the NewsCrypto Academy, focused on security in crypto, where we’ll explain everything you need to know on how different types of cybercrime work, how you can protect yourself and what steps you should take if you do fall victim to one of these ever more sophisticated attacks.
On a community note, we’ve started releasing a new series of videos with our advisors and ambassadors. The series covers upcoming NewsCrypto development, personal crypto experiences, interesting new ideas that are brewing inside various crypto communities and explains the current headlines within the crypto community. If you haven’t already, make sure you check it out on our official YouTube channel.
As our list of followers and platform users grows, we’ve been working on opening new communities across the globe, so that all of you can discuss every aspect of crypto with other local traders and crypto enthusiasts without a language barrier. You can check out our community chatrooms here.
Our last noteworthy announcement was about the $10 million worth of NWC token burn. As we’ve always been committed to giving back to our community and tokens holders, we’re sticking to our motto of being deflationary by burning 20% of all subscription fees.
Because many memberships have been acquired by staking there weren’t many fees to burn but we’re making up for it over the course of several burn events, and the first one already took place, where we burned $1 million worth of NWC!
The remaining burn events will take place by the end of the year and you can expect them to coincide with important milestones in our development.
That’s it for our monthly recap but you can read our weekly development articles and other posts on our official blog to get more information on these keynotes and others that have slipped under the radar of this recap.