Liquidity | Business Upturn

Dojima network redefining blockchain interoperability in Web3 space

Tushar Aggarwal — Sat, 17 Feb 2024 14:13:59 +0000

The Dojima Network is making waves in the world of decentralized applications (DApps) by revolutionizing cross-chain development. By bridging Ethereum Virtual Machine (EVM) and non-EVM chains, Dojima is fostering a more interconnected and innovative Web3 space.

Blockchain interoperability is a key challenge in the digital landscape, and Dojima Network is at the forefront of addressing it. By enabling seamless communication and transaction capabilities across different blockchain networks, Dojima is not only enhancing the functionality of DApps but also redefining what they can achieve. The platform’s focus on eliminating barriers between EVM and non-EVM chains is empowering developers to create and deploy applications that are versatile and accessible to a broader audience.

Since its inception, Dojima Network has been committed to technological innovation and fostering collaboration within the Web3 space. Its achievements reflect a dedication to excellence and a deep understanding of the ecosystem’s needs. Looking ahead, the platform aims to further enhance its capabilities, ensuring that the Web3 space is not only more interconnected but also more conducive to innovation.

The broader trends in the Web3, Blockchain, and Cryptocurrency sectors also reflect a push towards scalability, efficiency, and security. Initiatives such as Uniswap v4’s optimizations post Ethereum’s Dencun upgrade and TRON’s plans for integrating tokens with Bitcoin demonstrate a commitment to improving the blockchain ecosystem. The correction of inflated figures in crypto donation reports related to terrorism funding by the U.S. Treasury underscores the importance of accuracy and trust in the digital economy. Challenges faced by industry leaders, such as SEC Chairman Gary Gensler’s scrutiny and innovative marketing strategies by platforms like Coinbase, highlight the complex dynamics of regulation, innovation, and market forces.

Dojima Network’s mission extends beyond technology. By enhancing blockchain interoperability, the platform is facilitating smoother cross-chain app development and laying the groundwork for a more collaborative, innovative, and liquid Web3 ecosystem. This vision aligns with notable performances in the blockchain sector, with ZetaChain leading with a 347.9% increase in the 7-day change index. These achievements not only showcase the potential of interoperable platforms but also set the stage for the future of the blockchain industry.

The Dojima Network’s focus on bridging the gap between EVM and non-EVM chains is a significant step towards realizing the full potential of the Web3 space. As the platform continues to push boundaries in blockchain interoperability, it not only supports the development of sophisticated and accessible DApps but also contributes to a more integrated and dynamic digital economy. Amidst significant developments across the Web3, blockchain, and cryptocurrency sectors, the Dojima Network emerges as a key player in shaping the future of blockchain innovation and collaboration.

Banking system faces growing liquidity deficit: RBI initiates steps to tackle challenges

Finance Desk — Thu, 25 Jan 2024 01:53:23 +0000

The banking system grapples with an expanded liquidity deficit of Rs 3.33 trillion this week, driven primarily by outflows related to Goods and Services Tax (GST). As a result, the cut-off yields on Treasury bills at the recent auction saw increases compared to the previous week. The Reserve Bank of India raised the cut-off yield on the 91-day, 182-day, and 364-day T-bills to 7.02%, 7.19%, and 7.17%, respectively. This adjustment reflects a 5 basis points increase for the 91-day bill and a 2 basis points increase for the 182-day and 364-day bills compared to the previous week.

India Ratings and Research emphasizes the need for the RBI to inject more durable liquidity into the banking system if the current tight liquidity conditions persist. Despite the RBI injecting an average liquidity of Rs 1.8 trillion from December 16, 2023, to January 14, 2024, short-term money market rates remain elevated, impacting the financial system and economic growth. The sustained liquidity pressure stems from the banking system experiencing deficits during the third quarter of the current fiscal year, exacerbated by tax outflows.

V R C Reddy, Head of Treasury at Karur Vysya Bank, attributes the liquidity deficit widening to increased cash circulation during the festival season and GST outflows. He anticipates a potential narrowing of the deficit to around Rs 1.5 trillion with government spending and bond redemption approaching month-end and budget considerations. The central bank’s efforts to address the liquidity challenge include Variable Rate Repo auctions aimed at infusing liquidity into the banking system.

G-SAP 2.0: RBI to buy up to Rs 25,000 crore of 5 gilts on August 26

Sneha Sengupta — Wed, 18 Aug 2021 13:47:10 +0000

Reserve Bank of India (RBI) will purchase around Rs 25,000 crore equal to five government-issued long term stocks (gilts) under the Government Securities Acquisition Programme (G-SAP) 2.0, CNBC TV 18 reported this update on August 17.

The gilts issued would be made by the central bank on August 26, the report read. This news floats in about a month after the RBI purchased government bonds via., the open market of Rs 20,000 crore.

The current decisions taken by the RBI are a section of the first round of purchases under G-SAP 2.0.

On July 4, RBI Governor Shaktikanta Das had proclaimed that the central bank will organize the open market purchase of government securities worth Rs 1.2 lakh crore under the G-SAP 2.0 in Q2 of the financial year 2021-22 to aid the market.

In the April monetary policy review, the RBI had launched secondary market G-SAP 1.0. Under the programme, the central bank aimed to offer a specific amount of open market purchases of government securities to allow a stable and organized evolution of the yield curve amidst effective liquidity conditions.

“The auctions under G-SAP 1.0 have evoked keen interest from market participants, with bid cover ratios of 4.1 and 3.5, respectively, in the two auctions undertaken so far. The timing of the second auction was aimed towards replenishing the drainage of liquidity due to the restoration of the cash reserve ratio (CRR) to its pre-pandemic level of 4 per cent of net demand and time liabilities (NDTL), effective May 22, 2021,” Das had said.