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Nexo's $3 Billion Arbitration Claim Against Bulgaria: Unveiling the Legal Battle

Nexo, a prominent crypto lending firm, has recently filed a $3 billion arbitration claim against the Republic of Bulgaria following a year-long criminal investigation into the company and its founders. In a press release on Wednesday, Nexo strongly argued that Bulgaria's investigation was unjustified and politically motivated, resulting in significant reputational damage and lost business opportunities estimated to be in the billions. The company, now cleared by the Bulgarian Prosecutor's Office, is seeking reparations for the financial harm suffered as a result of the investigation. Key Points: Nexo is one of 22 investors in Decrypt. The company had to abandon plans for a funding round with leading U.S. banks and an IPO on a major U.S. stock exchange due to the lawsuit. Nexo was finalizing a strategic alliance with a major European football club, which included the launch of a club-branded crypto payment card. Antoni Trenchev, co-founder of Nexo, emphasized that the arbi

Unlock the Power of Cross-Chain Messaging with xCall on Cosmos

The ICON Foundation has made an exciting announcement regarding the launch of xCall on Cosmos. This integration brings together the power of xCall, a comprehensive cross-chain messaging standard, with Cosmos's native interoperability protocol, the Inter Blockchain Communication (IBC). The integration of xCall with IBC comes just three months after its initial integration with Blockchain Transmission Protocol (BTP), ICON's native interoperability layer. This strategic integration offers users and developers leveraging Cosmos a simpler and more flexible cross-chain development experience.

A Seamless Connection for Cross-Chain Decentralized Applications

xCall offers a single interface for building cross-chain decentralized applications (dApps), regardless of the chosen interoperability protocol. This means that once a dApp is configured to receive messages from one xCall connected chain, it can effortlessly receive messages from any xCall connected chain, opening a world of possibilities for developers. This seamless connection eliminates the need for developers to navigate multiple protocols and simplifies the process of building cross-chain applications.

Generating Revenue and Enhancing Security

The usage of xCall contracts generates revenue through built-in fees, which are swapped to ICX tokens and burned for sustainability. Additionally, xCall offers a multi-protocol verification solution, reducing reliance on a single interoperability protocol and eliminating the need for trust in oracles or a trusted set of validators. The protocol ensures security in cross-chain messaging through decentralized relayer incentives.

Platform Neutrality and Future Integrations

Unlike other protocols, xCall is platform neutral, functioning as a layer atop various interoperability protocols, including IBC and BTP. This platform neutrality empowers developers to explore a wide range of possibilities for building cross-chain applications. With future integrations, such as LayerZero on the horizon, xCall continues to expand its capabilities and further enhance cross-chain development opportunities.

Advantages of xCall and Collaboration with Cosmos

Min Kim, CEO of the ICON Foundation, has highlighted the numerous advantages of xCall, including its platform neutrality. By integrating xCall on Cosmos, the ICON Foundation is pioneering a future where blockchain barriers are a thing of the past. This collaboration is a testament to the foundation's commitment to simplifying cross-chain development and expanding the reach of dApps across diverse ecosystems.

About the ICON Foundation

The ICON Foundation is a non-profit organization dedicated to advancing blockchain interoperability by supporting the open development of bridging infrastructure to connect all blockchains. Established in 2017, the foundation plays a pivotal role in fostering the growth and mission of the ICON ecosystem. Through initiatives like the integration of xCall on Cosmos, the ICON Foundation is driving innovation and promoting the widespread adoption of blockchain technology.


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