By Adedapo Adesanya There are high expectations following the confirmation of Mr Sule Abdulaziz as the substantive Managing Director/Chief Executive Officer (CEO) of Transmission Company of Nigeria (TCN) by President Muhammadu Buhari. His full takeover of the role was announced by Mrs Ndidi Mbah, the General Manager, Public Affairs, TCN in a statement in Abuja […]
Freedom Protocol Has Become the Project With the Largest Amount of IDO in the Ecology of Binance Smart Chain
PRESS RELEASE. Binance is a curious company. the world’s largest cryptocurrency exchange, it also has no official headquarters and operates outside regulatory control. But that may not stop its step. Binance.US raised funding at a $4.5bn valuation this month, providing a new case for Binance enthusiasts. Today, they can share the exciting news that Freedom Protocol has set a new record on IDO volume.
Freedom Protocol is a new financial protocol that makes pledging easier and more efficient. It makes the largest amount of IDO with over $4M, and it is another big DeFi project issued on the Binance Smart Chain.
Freedom Protocol is wise to raise funds while it can. Revenue depends on trading volumes in its crypto, which are notoriously volatile. It is sensible to put aside capital when it can while building relations with external investors. It is worth mentioning that Freedom Protocol raises $4 from normal users instead of professional agencies.
Freedom Protocol fans like to claim their purpose is always challenging the traditional financial world. No matter how difficult his actions appear, they believe the Freedom Protocol boss has secret plans. Parsing its $4M IDO size to take DeFi platform come true requires a similar level of faith.
Freedom Protocol announced that they aim to make simplicity and directness of financial investment for all crypto enthusiasts. They were warmly welcomed on Binance Smart Chain(BSC) which is the public chain launched by Binance, it helps them achieve a record on IDO volume within a few days.
The first to welcome them are the opinion leaders. A few KOLs on Twitter post passionate tweets for this project, followed by publishing outdoor advertising in Australia and starting a lot of campaigns of various types.
Freedom Protocol is a typical case who is concentrating on private investment, stakes in private companies and individuals, all areas where institutional clients have been increasing allocations in recent years. Now Freedom Protocol launches its business around the world, including the ads for airport taxis in Germany, which indicate the determination of Freedom Protocol to intend to help more customers in other countries.
With nothing to prove, Freedom Protoco is also confident enough to voice the view that a model dominated by traditional finance is due an overhaul. And this time it is companies and management that need to adapt to DeFi’s needs, rather than vice versa.
Binance chief executive Changpeng Zhao described DeFi as infrastructure for the new digital world, and encourage many investors and entrepreneurs to get involved in DeFi story.
But mainstream acceptance will be slow as they know. Regulators continue to worry that crypto is being used for money laundering and other crimes. US SEC chair Gary Gensler has called crypto markets a “Wild West”. The noise is off-putting for both prospective investors and employees. So Freedom Protocol this week tweeted that they were trying to apply for cryptoasset licenses from both Dubai and Japan, it moves away from portraying itself as a decentralized organization with no fixed headquarters.
The Dubai permissions will allow it to extend limited services to pre-qualified investors and professional financial service providers. “The firm will also locate a “blockchain technology hub” in the Dubai World Trade Centre.” Oscar, Founder of Freedom Protocol said.
The success of Freedom Protocol is a tiny reflection of a startling larger truth: the huge audience crypto has so far left on the financial system and innovation of the internet. And as the size of financial work directly affects the daily life of every employed human on the planet, that matters.
The global crypto market is estimated to have a market worth more than $2tn. Binance’s own digital token is up more than 1,000 percent since the start of 2021. Freedom Protocol becomes a unique perspective on why Binance is so successful in recent years.
Perhaps Freedom Protocol has a plan to transform the financial model entirely. Maybe it will one day be a crypto payments company. Or an NFT trading platform. Or perhaps all the platform’s users just want to own it.
Email: [email protected]
SA Startup Nile Raises $5.1m for Direct Agric Purchases
South African agriculture technology startup, Nile, which enables buyers to purchase directly from Africa’s leading food producers through its marketplace, has raised a $5.1 million equity funding round led by Naspers Foundry.
The startup’s end-to-end process connects farmers to commercial retailers of fresh produce both in South Africa and across the continent.
The business-to-business (B2B) platform facilitates transactions and safeguards payments on behalf of farmers, resulting in increased transparency and improved cash flow.
Nile’s new equity round was led by Naspers Foundry, which contributed $2.5 million, alongside Platform Investment Partners, Raba Capital and Base Capital.
This transaction makes it Naspers Foundry’s 10th transaction, with its portfolio also including SweepSouth, Aerobotics, Food Supply Network, The Student Hub, WhereIsMyTransport, Ctrl, Naked Insurance and Floatpays.
Speaking on this, Mr Louis de Kock, co-founder and CEO of Nile, “We are delighted to have Naspers Foundry support our mission to make fresh produce more accessible to people across the African continent.
“While we were able to bootstrap Nile through our initial growth phase, we look forward to having the backing of an internationally respected investor and experienced operator like Naspers as we scale our cross-border operations to the rest of Africa.”
Adding his input, Mr Fabian Whate, head of Naspers Foundry said, “Nile provides a fully integrated ecosystem that creates trust between buyers and sellers on the platform and is a great example of tech entrepreneurs building innovative solutions that address people’s everyday needs.
“We are excited about the growth potential of this business and its contribution to transforming the trade of fresh produce.”
Nile was founded in 2020 to provide farmers with digital solutions that can address various pain points inherent to food trading – including price transparency, quality verification, speed of payments, the traceability of the produce and food waste.
Since Nile’s inception, approximately 30 million kilogrammes of fruits and vegetables have been traded on the platform, with buyers originating from five countries and 35 towns and cities across Southern Africa.
Nile’s services are used by farmers of all sizes, from small-scale farmers to large commercial farmers, with buyers ranging from large South Africa-listed companies to small family-owned retailers and wholesalers.
Nile also operates in Botswana, Namibia, Eswatini and Mozambique.