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Devesifi Burns $20 Million in NEC to drive Adoption

DeversiFi, the DEX spin-off of Ethfinex has burned $20 million worth of its governance and utility token, Nectar (NEC).

The Nectar token was originally launched with an inflationary model, in which it was awarded to Ethfinex traders, giving them a stake in the future of the exchange.

However, with Ethfinex's pivot towards decentralization and rebirth as DeversiFi, the token has switched to a deflationary model.

To symbolize and promote the move to a deflationary model, DiversiFi performed a 'big-burn' of 400 million Nectar tokens on March 27

CoinTelegraph

Civic Wallet offers $1M 'Deposit Protection' for your crypto

Civic (CVC) Wallet - a multi-signature non-custodial wallet, now comes with a $1,000,000 guarantee from Coincover.

"The original wallet just did identity. Now we've combined identity, payments and storing money." - CEO and co-founder Vinny Lingham said.

Lingham noted that the coverage is free, but in the future Civic may start charging a fee on the accounts containing over $1,000,000 worth of cryptocurrency.

The wallet is currently in private beta.

BeInCrypto

Binance to Launch Crypto Exchange Supporting KRW-Backed Stablecoin

Binance KR will be launched on Binance Cloud and will also support Binance KRW, a stablecoin backed by the South Korean Won (KRW).

Additionally, users can trade in Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB).

Users can start depositing KRW on April 2 at 10:00 A.M. KST. However, trading will only start on April 4 and withdrawals can only be made from April 9.

CoinTelegraph