By Luke F - Crypto Specialist - 15-08-2021
As reported in recent news, the Avalanche Foundation and BENQI have joined forces to launch a liquidity mining program in the cryptocurrency trading community's surprise.
To create a cooperative liquidity mining operation, the Avalanche Foundation has chosen to work alongside BENQI, a protocol that uses algorithmic liquidity. In mid-August 2021 will commemorate not only the debut of the BENQI protocol as well as the anticipated growth of its partner's DeFi ecosystem, Avalanche.
AVAX is the native crypto coin used within the Avalanche ecosystem, with plans to distribute $3 million of its crypto market investment as liquidity incentives to BENQI users. The crypto coin will be used within the BENQI network to reward users who wish to borrow or loan crypto in the program. Using AVAX to invest in cryptocurrency is just the beginning of incentives with promises to develop more incentive programs further.
As of writing, the Avalanche Foundation and its DeFi ecosystem have managed to obtain nearly $233 million. Avalanche has a technology within its ecosystem that bridges itself to the Ethereum networks, which provides its users with fast, safe, and affordable transfers.
The Avalanche Bridge means that projects like Pangolin, Avalanche's premier automated market maker, can expand its already high-performing money markets. Pangolin has thus far witnessed $1.3 billion in total trading volume since its inception earlier this year. BENQI is one project that has become a prime example in the front line and shows the way for more DApps to launch on Avalanche soon.
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Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**
BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.2. **Continued Operation Outside the UK:**
Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.3. **Withdrawal of Assets:**
For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.4. **Conversion of Assets:**
To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing info@bcbitcoin.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.5. **Withdrawal Procedure:**
To initiate a withdrawal, please email your request to info@bcbitcoin.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at info@bcbitcoin.com Kind Regards