Apple Blocks Coinbase Wallet Release on iOS

Apple Blocks Coinbase Wallet Release on iOS


Your Coinbase Wallet is the key to the future of cryptocurrency. You can govern your cryptocurrency, NFTs, DeFi activity, and digital assets with the help of Coinbase Wallet, a mobile crypto wallet with self-custody and a web3 Dapp browser.

The brand-new Coinbase Wallet mobile app is the simplest and safest method to view, store, and send your NFTs. It also gives you access to thousands of decentralized applications and lets you earn income on cryptocurrency through staking or decentralized financing (DeFi) (Dapps). Web3 is now easier to use and more accessible than ever!

Why choose Coinbase Wallet as your web3 browser and self-custody wallet for cryptocurrencies?

  • You can trade, swap, stake, lend, and borrow as much as you like. Support for tens of thousands of tokens is available in wallets.
  • The best-in-class multi-chain wallet that supports all chains compatible with Ethereum, including Optimism, Avalanche, Polygon, BNB Chain, and more. 
  • It also supports Solana. Exchange L1s, L2s, and anything in between.
  • Accessible in more than 170 countries and 25 different languages; recognized by, Mashable, and CNET as the best cryptocurrency wallet for beginners

Apple Requires Coinbase to Disable NFT Trading

On the morning of December 1, Coinbase announced that iOS users of the Coinbase Wallet will be unable to send non-fungible tokens (NFTs).

It tweeted under the handle @CoinbaseWallet that the users might have noticed they can’t transfer NFTs on Coinbase Wallet iOS anymore. This is because Apple forbade Apple from disseminating its most recent version until the feature was disabled.

Anyone who is knowledgeable about NFTs and blockchains can see that this cannot be done. Even if we wanted to comply, bitcoin is not supported by Apple’s proprietary In-App Purchase system.

Comparable to this would be Apple’s proposal to charge for each email sent over open Internet protocols. NFT owners who use iPhones make up the majority of people who would be impacted by this policy change. Apple has suddenly made it far more challenging to transfer NFTs out of iPhone wallets or give them as gifts to loved ones. 

In other words, Apple has implemented additional regulations to safeguard its profits at the price of customer investment in NFTs and developer innovation throughout the crypto ecosystem. We hope that Apple made a mistake here and that this marks the beginning of new discussions with the ecosystem.

Coinbase Wallet added in saying that Apple claims that the gas fees necessary for sending NFTs must be paid through their In-App Purchase system. By this they can collect 30% of the gas fee. Coinbase claimed that they would be unable to meet the need because the iPhone maker’s exclusive in-app purchasing system does not enable cryptocurrency.

Several terms for Apple

According to Coinbase, Apple has implemented new policies to safeguard its profits at the price of consumer investment in NFTs and developer innovation throughout the crypto ecosystem. The approach was comparable to Apple’s attempt of charging a fee for each email sent using open internet protocols.

The world’s most valuable corporation and other app developers including Spotify (SPOT.N) and “Fortnite” creator Epic Games have argued over the 30% fees, with the latter accusing the former of abusing its “monopoly.”

The Apple problem for Coinbase comes at a bad moment for the cryptocurrency exchange, whose shares are down over 80% so far this year. As the interest of investors in cryptocurrencies wanes, the corporation has likewise removed positions in order to control costs.

NFTs also called blockchain-based digital assets with typical digital signatures, gained enormous appeal in 2021, but the crypto winter in 2018 has severely hampered demand.

Frax Finance | The First DeFi Protocol To Offer Fractional Stablecoin, Liquidity, and Lending Services Under One Umbrella On Ethereum Network!

Frax Finance | The First DeFi Protocol To Offer Fractional Stablecoin, Liquidity, and Lending Services Under One Umbrella On Ethereum Network!

Today, we are going to talk about a rapidly growing stablecoin that is implemented on Ethereum and 12 other chains. So, without wasting time, lets get straight into Frax Finance.

About FRAX Finance:

Many stablecoin protocols have entirely embraced one spectrum of design (entirely collateralized) or the other extreme (entirely algorithmic with no backing). Frax attempts to be the first stablecoin protocol to implement design principles of both to create a highly scalable, trustless, extremely stable, and ideologically pure on-chain money. The Frax protocol is a two token system encompassing a stablecoin, Frax (FRAX), and a governance token, Frax Shares (FXS). The protocol also has a pool contract which holds USDC collateral. Pools can be added or removed with governance.

Frax protocol use Fraxswap for rebalancing collateral, mints/redemptions, expanding/contracting FRAX supply, and deploying protocol owned liquidity on-chain. Fraxswap is the first AMM with time weighted average market maker orders.

FRAX targets a tight band around $1/coin. Frax Share (FXS) is the governance token of the entire Frax ecosystem of smart contracts which accrues fees, seigniorage revenue, and excess collateral value. FPI is the inflation resistant, CPI pegged stablecoin. FPIS is the governance token of the Frax Price Index and splits its value capture with FXS holders.

Stablecoins by FRAX ecosystem:

The Frax ecosystem has 2 stablecoins: FRAX (pegged to the US dollar) & FPI (pegged to the US Consumer Price Index). The Frax Finance economy is composed primarily of the two stablecoins, a native AMM (Fraxswap), and a lending facility (Fraxlend).

Frax finance


Fraxswap is the first constant product automated market maker with an embedded time-weighted average market maker (TWAMM) for conducting large trades over long periods of time trustlessly. It is fully permission less and the core AMM is based on Uniswap V2. This new AMM helps traders execute large orders efficiently and will be heavily used by the Frax Protocol to increase the stability of the pegs for the FRAX & FPI stablecoins as well as return protocol excess profits to FXS holders through TWAMM purchases.

The motivation for building Fraxswap was to create a unique AMM with specialized features for algorithmic stablecoin monetary policy, forward guidance, and large sustained market orders to stabilize the price of one asset by contracting its supply or acquiring specific collateral over a prolonged period. Specifically, Frax Protocol will use Fraxswap for: buying back and burning FXS with AMO profits, minting new FXS to buy back and burn FRAX stablecoins to stabilize the price peg, minting FRAX to purchase hard assets through seigniorage, and many more market operations in development.


Fraxlend is a lending platform that allows anyone to create a market between a pair of ERC-20 tokens. Any token part of a Chainlink data feed can be lent to borrowers or used as collateral.  Each pair is an isolated, permission-less market which allows anyone to create and participate in lending and borrowing activities.

Lenders are able to deposit ERC-20 assets into the pair and receive yield-bearing fTokens.  As interest is earned, fTokens can be redeemed for ever-increasing amounts of the underlying asset. Fraxlend also supports the ability to create custom Term Sheets for over-the-counter debt structuring. Fraxlend Pairs can be created with features like: maturity dates, restricted borrowers & lenders, under-collateralized loans, and limited liquidations.

Minting and Redeeming FRAX:

FRAX can be minted and redeemed from the system for $1 of value, allowing arbitragers to balance the demand and supply of FRAX in the open market. At all times in order to mint new FRAX a user must place $1 worth of value into the system.

Frax takes that idea and turns it over to design a unique stablecoin. The LP token is the stablecoin, FRAX. It is the object of stabilization and always mintable/redeemable for $1 worth of collateral and the governance (FXS) token at the collateral ratio. If the stablecoin price is dropping, then the protocol tips the ratio in favor of collateral and less in the FXS token to regain confidence in FRAX. An arbitrage opportunity arises for people wanting to put in collateral into the pool at the new ratio for discounted FXS which the protocol mints for this “recollateralization swap.” This recollateralizes the protocol to the new, higher collateral ratio.

Get connected with Frax Finance:

All the info about this amazing project given above is just like a bucket out of the sea. To know more about it, you all can go through their socials shared below.





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