LEVER Surges Following Governance Staking Program; Citigroup Launches Blockchain-Based Citi Token Services for Institutional Clients

Daily Top Performer — LeverFi (LEVER)

The SPX index is up 0.07%%, bullish factors included a decline in the 10-year T-note yield and a rally in tech stocks like Apple, which surged 1.69% due to strong pre-orders for the iPhone 15. The broader cryptocurrency market is up, with Bitcoin and Ether rising 1.17% and 1.28% respectively, in the past 24 hours. 

Today’s outperformer is LEVER, which surged 9.4% in the past 24 hours after announcing a staking program aiming to boost long-term community engagement and governance. 

LeverFi (LEVER), launched in 2022, is a decentralized leverage trading platform that allows traders to consolidate yield-bearing assets into a single collateral basket for larger trading positions and reduced liquidation risk and enables lenders to earn competitive yields by lending to traders, all in a secure and permissionless environment. Recently, LeverFi is set to launch Governance Staking in September to promote the long-term staking of LEVER by offering rewards in the form of LVR tokens, which also act as governance power. Higher lock-up periods come with higher reward multipliers. The initiative helps to align community incentives, reduce circulating supply, and encourage active participation in governance.

Check Out the Latest Prices, Charts, and Data of LEVERUSDT!

Talk of the Town:

Citigroup has launched Citi Token Services, a blockchain-based service that offers cross-border payments, liquidity, and automated trade finance solutions to institutional clients. The platform uses tokenized deposits and smart contracts integrated into Citi's global network. Two pilot tests have been completed; one facilitated instant payments via smart contracts, reducing transaction times from days to minutes, while the other allowed 24/7 liquidity transfer between Citi branches. The service uses Regulated Liability Network technology for atomic settlement and deposit tokens, which are a form of tokenized commercial bank money. JPMorgan is also exploring similar technology.