Zug, Switzerland, October 13th, 2024, Chainwire

Powerledger (POWR) has officially completed its integration with the Solana ecosystem, accelerating the pace of innovation in the global sustainability markets. This move combines Solana’s cutting-edge blockchain technology with Powerledger’s proven energy and environmental commodities trading and energy tracking solutions, setting the stage for faster, more efficient, and cost-effective clean energy solutions worldwide.

On October 1, 2024, Powerledger began the deprecation of its own blockchain, marking a transition for the POWR token across both Ethereum and Solana. This dual-chain approach unlocks potential for the tokenisation, trading, and tracking of renewable energy assets, including excess clean energy, renewable energy certificates (RECs) and carbon credits (CCs), while driving global environmental accountability. Powerledger’s proprietary energy solutions are now transitioned to Solana mainnet. 

“With our new Solana POWR token, we’re excited to leverage Solana’s network, this allows for lower fees and faster processing, aligning with our vision to make clean energy more efficient and accessible for all,” said John Bulich, Co-founder & Director, Powerledger. 

Solana POWR: Speed, efficiency, and sustainability in action.

This integration enables Powerledger’s platform to scale faster, support high-volume energy and environmental commodities transactions, and contribute to a more efficient and decentralised energy future for global sustainability efforts. This integration with Solana mainnet offers, 

• POWR token availability: The POWR token is now available on both Ethereum and Solana, with no changes to the total token supply. Token swap mechanism ensures that for every POWR token minted on Solana, an equivalent amount is locked on Ethereum, preserving the integrity of the tokenomics and preventing inflation. 
• Enhanced flexibility and interoperability: The dual-chain approach ensures that POWR remains accessible to users who prefer Ethereum, while also leveraging Solana’s powerful infrastructure and vibrant community to drive new sustainability solutions and collaboration.
• POWR as a payment token: POWR will continue to serve as a payment token for platform services across both Ethereum and Solana, incentivising green behaviours such as offsetting carbon emissions and reducing energy consumption. Powerledger also completed the integration of its own energy platform with Solana, leveraging Solana’s latest tools and technology. 

Powerledger (POWR) is set to play a pivotal role in enabling the tokenisation and trading of renewable energy assets, helping businesses meet their sustainability goals while making energy markets more transparent and accessible for all. 

About Powerledger

Powerledger is a Web3 company that creates pioneering solutions that solve pressing energy challenges, enabling access to cheaper and cleaner electricity and transparent environmental trading marketplace. Founded in 2016, Powerledger is known for being Australia’s first and most successful ICO. Powerledger has previously experimented with Bitcoin and Ethereum forks before transitioning to a hard fork on Solana last year. Now, headquartered in Zug, Powerledger is recognised as one of the top 50 companies in Crypto Valley, Switzerland. 

For more information, please visit https://www.powerledger.io/

YouTube: https://youtu.be/DR-AQIyk9V0?si=dJf-H_SttyQkpbBm

Contact

Snehal Pawar
Powerledger
pr@powerledger.io

Singapore, Singapore, October 13th, 2024, Chainwire

MEETLabs officially announced that its incubated TON ecosystem clicker game CoinFish will initiate an airdrop event on October 23rd, with a current 10-day countdown. CoinFish (https://x.com/coinfishfun) is a Web3 game that combines fishing with business simulation, where players feed stray cats by fishing in the game, participate in the operation of the aquatic product market, and nurture cat characters, enriching the game’s interactivity and entertainment.

CoinFish (https://x.com/coinfishfun) is set in a fictional world, telling the adventure story of a stray cat team and the polar bear Og. In this world, due to war and environmental pollution, the ecosystem is damaged, and stray cats start a new life by rebuilding their homes in “Pearl Bay”. The game character design refers to brands such as Sanrio, adding to the game’s affinity and cultural identity. The polar bear Og, as a star of the circus, is witty and brave, embarking on a journey with the stray cat team to find a new home and save the Earth’s environment, becoming their loyal partner and bodyguard. Over time, their life in “Pearl Bay” becomes increasingly colorful, accumulating a large amount of fish coins and establishing a deep friendship through mutual support and encouragement, bringing peace and beauty to this fragile world.

The features of CoinFish (https://x.com/coinfishfun) include parallel fishing and business simulation modes, eliminating the need for continuous online fishing. The game increases the “profit per hour” parameter through fish market simulation, utilizes referral systems and diverse gameplay to increase income. The daily activities and task system simplify the game process, allowing players to easily obtain daily rewards and interact with friends for mutual benefits. Additionally, players can create their own cat raising circle, invite friends to raise cats in the cloud, and share Bonus rewards, enhancing the game’s social and participatory aspects.

Additionally, MEETLabs’ invested and incubated Crypto Gaming project CryptoPlay includes a series of large-scale Web5.0 gaming products such as CoinFishing, CoinHunting, and Monopoliverse, catering to both PC and mobile platforms. The inaugural product of the CryptoPlay project, CoinFishing, is set to officially launch in Q4 of 2024, further enriching the gaming experience of CoinFish (https://x.com/coinfishfun). As the pre-operational segment of the fishing game CoinFishing, CoinFish will also continue to provide more P2E opportunities for community contributors and in-depth participants.

About MEETLabs

MEETLabs is an innovation lab focused on the field of blockchain technology and cryptocurrency, also serving as the incubator for MEET48. MEET48 is considered one of the largest global Web3 application project teams, with a technical and R&D team of 500 people, covering regional operations in Singapore, Hong Kong, Taipei, Tokyo, Seoul, and Dubai. MEET48 aims to achieve mass adoption of Web3 technology with a focus on the AI UGC content ecosystem centered on AIGC (Animation, IDOL, GAME, and Comics) for Generation Z’s trendy entertainment content, as well as a graphical and intelligent metaverse social infrastructure.

MEET48 Official Website: https://www.meet48.xyz/

Twitter (X): https://x.com/meet_48

Telegram: https://t.me/MEET_48

Discord: https://discord.gg/meet48

Contact

Marketing Director
Siyu Yang
MEET48
siyu@meet48.com

Fairdesk to Shut Down by November 2024

In a significant development within the cryptocurrency exchange landscape, Fairdesk, a prominent Singapore-based cryptocurrency exchange, has announced its decision to cease all operations by November 30, 2024. This move, reported by Cointelegraph, marks the end of Fairdesk’s journey since its launch in 2021, as the platform navigates through an evolving regulatory environment that has impacted many players in the crypto space.

Overview of Fairdesk

Fairdesk was established in 2021 with the aim of providing a secure and user-friendly platform for cryptocurrency trading. Based in Singapore, Fairdesk quickly gained traction among crypto enthusiasts for its intuitive interface, diverse range of trading options, and robust security measures. The exchange offered both futures and spot trading, catering to both novice traders and seasoned investors looking to engage in leveraged trading activities.

Announcement of Shutdown

On October 12, 2024, Fairdesk officially announced via its communication channels that it would be shutting down all operations by the end of November 2024. According to the announcement, the platform will close futures and spot trading services by October 17, 2024, after which only withdrawals will remain accessible until the final shutdown date. This phased approach is designed to provide users with ample time to withdraw their assets and transition to other platforms smoothly.

Reasons for the Shutdown

The decision to close Fairdesk’s operations is primarily attributed to changing regulatory landscapes that have increasingly tightened oversight on cryptocurrency exchanges. Similar to other recent closures in the crypto industry, Fairdesk cited the need to comply with stringent regulations as a key factor influencing its shutdown. The evolving legal requirements have posed significant challenges for exchanges in maintaining compliance while continuing to operate efficiently.

Impact on Users

The shutdown of Fairdesk has several implications for its user base:

• Asset Withdrawal: Users are encouraged to withdraw their funds from the platform by October 17, 2024, when trading services will be halted. Post this date, only withdrawal functions will remain active until the final closure in November.
• Data Management: Fairdesk has assured users that all personal and financial data will be handled in accordance with data protection laws, ensuring privacy and security even as the platform winds down operations.
• Customer Support: To assist users during this transition, Fairdesk has extended its customer support services, providing guidance on how to withdraw assets and migrate to other exchanges.

Broader Implications for the Crypto Market

Fairdesk’s closure is indicative of the broader challenges faced by cryptocurrency exchanges in navigating regulatory pressures. The increasing scrutiny from regulatory bodies worldwide is reshaping the operational strategies of crypto platforms, emphasizing the need for robust compliance frameworks. This trend underscores the importance of regulatory clarity and support for the sustainable growth of the cryptocurrency industry.

Reactions from the Community

The announcement has elicited mixed reactions from the cryptocurrency community:

• Users: While some users express disappointment over the loss of a trusted trading platform, others view it as a necessary step towards a more regulated and secure crypto environment.
• Industry Experts: Analysts believe that Fairdesk’s shutdown highlights the critical need for exchanges to adapt swiftly to regulatory changes to ensure longevity and compliance.
• Regulators: Regulatory bodies have reiterated their commitment to enforcing compliance and ensuring that cryptocurrency exchanges adhere to legal standards to protect investors and maintain market integrity.

Future Outlook for Fairdesk

As Fairdesk prepares for its final months of operation, the company remains committed to ensuring a smooth transition for its users. The focus will be on facilitating asset withdrawals, maintaining transparent communication, and upholding the highest standards of data security throughout the shutdown process.

Conclusion

The shutdown of Fairdesk by November 30, 2024, marks the end of an era for a cryptocurrency exchange that played a significant role in the Singaporean crypto market since its inception in 2021. This decision underscores the profound impact of regulatory changes on the operational viability of crypto exchanges. As the industry continues to evolve, platforms like Fairdesk will serve as case studies for the importance of regulatory compliance and adaptive strategies in the dynamic world of cryptocurrency trading.

To learn more about the innovative startups shaping the future of the crypto industry, explore our article on latest news, where we delve into the most promising ventures and their potential to disrupt traditional industries.