farming - Pwim.Net

Indonesia’s Chronic Crop Data Problem Solved by Blockchain

Indonesia has been a victim of unreliable crop data, and this has hindered the optimality of its agricultural sector. This nation has been grappling with the lack of accurate data when it comes to issues, such as crop output. HARA, a Jakarta-based startup, seeks to address this challenge by deploying blockchain technology.

According to Bloomberg, HARA has started utilizingblockchain in collecting and managing farm data, such as pest infestation, grains transaction, soil and crop conditions, cultivation process, and land ownership.

Regi Wahyu, HARA’s CEO, notes that blockchain will be instrumental in enhancing farmers’ livelihood as they will be given more insights based on the data collected.

Wahyu stipulated:

“Our mission is to provide rural smallholders access to various farm goods, financing and crop insurance. The holy grail for accessibility is availability of accurate and transparent data which can help farmers in getting loans to finance their production.”

HARA intends to work together with Indonesia’s Agriculture Minister in developing reliable agriculture data through blockchain.

As reported by Blockchain.News on Oct.18, Farm to Plate, a blockchain-enabled provenance tracking portal by Paramount Software Solutions, is set to address the challenge of recalls witnessed in the food & beverage sector.

Image via Shutterstock

Lido Launches Layer-2 Ethereum Staking And 150,000 LDO Tokens In Rewards

Lido is now on layer-2 solutions, Arbitrum, and Optimism, and would allocate 150,000 LDO tokens in rewards per month from Oct 7 for wstETH across each network.

According to Lido, expanding its services to layer-2 blockchains would better enhance the accessibility of Ethereum staking while also reducing gas fees.

Unlike traditional staking, where stakers can’t withdraw until their staking period lapses, Lido Finance is a liquidity staking platform that provides flexibility for stakers. It allows stakers to withdraw their staked tokens whenever they want.

Lido’s first phase of Layer-2 rollout enables the bridging of Lido’s Wrapped Staked Ether (wstETH) token to the two supported L2 networks while preserving the unique properties of stETH in the process.

stETH is the Ethereum liquid staking token Lido gives to stakers when they stake. In opposition, wstETH is the wrapped version that ensures a fixed balance of stETH for use in decentralized finance (DeFi) applications that require a constant balance mechanism.

With plans to issue out the 150,000 LIDO tokens as rewards, the protocol said the aim behind this initiative is to build wstETH liquidity for liquidity mining incentives on DeFi partners, including Beethoven, Balancer, Curve, Kyber Network, and Velodrome.

Notably, Lido’s plan to expand to L2 networks was initially revealed in July when the team admitted that in the future, a large portion (if not a majority) of economic activity and transaction volume would migrate to both general use and purpose-specific Layer 2 networks.

In addition, both layer-2 networks Lido first chose to deploy to have an 80% market share between them. According to L2beat, Arbitrum leads with a 50.68% market share and $2.38 billion in total value locked (TVL), and Optimism follows with a 30.68% share and a $1.44 billion TVL.

Portal Debuts on Binance Launchpool for BNB and FDUSD Farming

Portal (PORTAL), a cross-chain gaming platform, is launching on Binance Launchpool starting February 22nd. Users will be able to farm PORTAL tokens by staking BNB and FDUSD over a 7-day period.

Binance announced Portal as the 47th project on its Launchpool platform. Launchpool allows users to earn new token rewards by staking BNB, BUSD, and other cryptocurrencies.

7-Day Farming

The Portal farming event will run from February 22nd at 0:00 UTC to February 28th at 23:59 UTC. A total of 50 million PORTAL tokens will be distributed as rewards, split between the BNB and FDUSD pools.

The BNB pool will receive 40 million PORTAL (80% of rewards) while the FDUSD pool gets 10 million tokens (20% of rewards).

To participate, users must complete KYC verification and meet eligibility criteria based on their country of residence. Hourly reward caps will apply and be updated in real-time on each pool’s page.

PORTAL Listing

After farming concludes, PORTAL will list on Binance and open trading against BTC, USDT, BNB, FDUSD, and TRY pairs on February 29th. The PORTAL ticker will receive Binance’s “Seed” tag.

Portal boasts a maximum supply of 1 billion PORTAL tokens, of which 167 million will initially be in circulation. The blockchain gaming startup has raised funds from investors such as Polygon Studios, Cultur3 Capital, and Dweb3.

Bridging Gaming to Web3

“Portal is a cross-chain gaming platform with a mission to onboard more players to Web 3.0,” stated Binance in its announcement.

The project aims to be the bridge allowing traditional mobile and PC gamers to access Web3 games while keeping a familiar user experience. Its platform will offer game discovery, profiles, tournaments, and an NFT marketplace.

Portal also provides full-stack game development support including analytics, player insights, marketing tools, and blockchain integrations. The ecosystem uses a dual-token model with its PORTAL governance and utility token plus in-game tokens.