Tim Draper Joins Board of Directors of EOS-Based Decentralized Application

Michael LaVere
  • Bitcoin bull Tim Draper has joined the board of directors for DApp creator MakeSense Labs.
  • Draper is working with decentralized messaging app Sense.Chat which uses EOS's network.

American venture capitalist and bitcoin bull Tim Draper has joined the board of directors of EOS-based decentralized application (DApp) firm MakeSense Labs. 

Tim Draper Joins MakeSense Board

According to the press release , Draper will be joining the board for the development group behind Sense.Chat, which launched in August as a decentralized application on the EOS network. 

Sense.Chat Founder and CEO Crystal Rose was quoted in the press release as calling Draper an “incredible asset,” to the DApp’s growth, 

Sense.Chat is the first messaging system of its kind utilizing blockchain technology for privacy and security. It has the potential for ushering in mass consumer adoption in crypto. As an early supporter of our mission and respected visionary in the space, Draper is an incredible asset for our team’s success.

Draper is the founder of venture capital firm Draper Associates, which has made investments in companies such as Skype, Tesla and Twitch. While he’s known more for his vocal support for bitcoin and sometimes outlandish price predictions, the American investor said he was excited to support a decentralized application like Sense.Chat, 

The world is becoming decentralized. I am excited to support this amazing application. Sense.Chat improves human connections by allowing private, seamless messaging and payments.

Draper is one of the Wealthiest People in Crypto according to Forbes, and has made Worth Magazine's 100 Most Powerful People in Finance. 

 

Featured Image Credit: Photo via Pixabay.com

Derivatives Trading Platform Synthetix (SNX) Is up Over 5,000% Since 2019

Michael LaVere
  • Derivatives trading platform Synthetix is the best performing DeFi product since April 2019.
  • Synthetix's native token SNX has appreciated more than 5000 percent over the last two years. 

The little-known crypto-asset Synthetix (SNX) is the best performing decentralized finance (DeFi) project of the past two years. 

According to a tweet published by popular crypto analyst Alex Saunders, SNX has been the best performing DeFi asset since April 2019. Saunders claims that Synthetix has appreciated 5000% over the past two years and was one of the top two ETH-based projects he has been following since Edcon Sydney 2019. 

SNX’s price took off in June, from $0.79 at the start of the month to its current trading price of $2.73, representing a 245% increase. 

Synthetix is a derivatives trading platform built on the ethereum blockchain that allows users to trade on stocks, crypto and other commodities. Users are required to exchange bitcoin or ethereum for SNX tokens in order to participate in trading. 

The exchange’s native token can be locked as collateral to produce “synths” such as a synthetic U.S. dollar (sUSD), which in turn can be used to place bets on rising and falling asset prices. 

Synthetix also operates a reward program, where users of the exchange can stake their SNX tokens as collateral in order to receive additional benefits.

Featured Image Credit: Photo via Pixabay.com