Empire Prime Time: Strengthening our Empire Together ??
Uniting our community and embracing the future of DeFi, strengthening our Empire.
Hey, hey hey! We're thrilled to bring you the latest edition of Empire Prime Time, your go-to source for all things Empire Token. We're excited to have you on board as we navigate the dynamic world of cryptocurrencies and decentralized finance. This week, we have some exciting developments to share, including a peek behind the scenes of our ongoing development efforts and the strategic steps we're taking to enhance your experience with Empire Token and DeFiGram.io.
As always, we remain committed to transparency and value our community, so let's journey together into the fascinating realm of DeFi and explore the latest happenings within our Empire!
Words from our Founder ????
Dear Empire family,
I hope this message finds you in good health and spirits. I want to address a few points that have come to my attention recently. Firstly, I must apologize for the delay in responding to your messages. The outpouring of communication has been overwhelming, and unfortunately, I have been unable to respond to each of you personally. In the past week, I have been faced with some health challenges that have required my full attention and focus. However, rest assured that your messages do not go unnoticed. Any urgent concerns and inquiries can be directed to our dedicated team members so they can be diligently attended to.
I would like to assure you that the team has been in constant communication with me, keeping me updated on the progress of our projects and ensuring that the vision we share continues to be realized. I remain deeply committed to our shared vision and mission. As your CEO, my foremost responsibility is to ensure that the project continues to progress steadily and that it gets the funding it needs to drive our initiatives forward. Your trust in Empire Token is not taken for granted, and we are working diligently to overcome any obstacles that come our way.
In the coming days, as I regain my strength, I am eager to connect with you all through a video update. I believe in the power of transparency and open communication, and I want to share our journey and progress with you directly. Your involvement and participation are crucial to the growth of our project, and I am excited to discuss our plans and aspirations for the future.
Until then, I extend my warmest regards and gratitude to each member of our incredible community. Together, we have achieved remarkable milestones, and I have no doubt that our collective efforts will propel us to even greater heights.
Once again, thank you for being a part of this incredible community. Your passion, resilience, and loyalty are the driving force behind Empire’s success. Let's continue to stand together, support one another, and build a brighter future for Empire Token and DeFiGram.io.
Keep Climbing,
Dulla
Founder and CEO, Empire Token
Development Updates ??
A few weeks ago, we reached an exciting milestone in our journey with DeFiGram.io. We shared the first build of our app with our amazing community, giving you the opportunity to be the first to experience its functionalities and provide valuable feedback. Your active participation and valuable insights have been instrumental in shaping the development of DeFiGram.io.
During this testing phase, we were thrilled to witness the enthusiasm and support from our community. Your engagement and passion for the world of decentralized finance have been truly inspiring. We are incredibly grateful for your trust and collaboration as we work together to create a platform that meets the needs and expectations of our users.
Bug fixes and new features ??
Since the initial release, our dedicated team of developers has been hard at work, addressing bugs and ensuring a smooth and secure experience for everyone. Your valuable feedback has been our guiding light throughout this journey. Each suggestion and comment has been carefully reviewed and taken into consideration, helping us refine and improve every aspect of the app. Your active involvement is what sets DeFiGram.io apart – a community-driven platform built by and for users like you.
The chat and blockchain verification features are thus far operational, facilitating seamless communication and bolstering trust within the DeFiGram.io community. But our development efforts are far from over. As we continue to enhance DeFiGram.io, we have an exciting new feature in the works – Stories. With "Stories," you'll have a platform to share your unique DeFi experiences, insights, and journey with the entire community. It's a wonderful way to connect, inspire, and learn from one another as we navigate the world of decentralized finance together. This extensive feature will be included in our next app build, which is expected in the coming month.
iOS Version Progress ??
We also have exciting news for our iOS users! As we expand the reach of DeFiGram.io, we've been actively working on the iOS version of the app. To ensure enhanced security during the testing phase, we will soon be releasing the app on TestFlight. We have submitted it to the Apple team two weeks ago and are currently awaiting approval. This means that we will only require your Apple ID for those eager to be part of the iOS testing process.
If you previously shared your device's Unique Identifier (UID) to join the testing, we kindly ask you to provide the email address associated with your Apple account instead. This update will not only streamline the testing experience but also ensure that our app meets the highest standards of security. Rest assured that your information will remain confidential and will not be shared with anyone outside of our team. It will solely be used for testing purposes, allowing us to deliver the best possible experience for our iOS users.
Submit your Apple ID:?https://bit.ly/defigramios
We appreciate your enthusiasm and support as we venture into the iOS realm. Your involvement in the testing phase is crucial as we refine and optimize the DeFiGram.io app for iOS users.
Are you a talented UI/UX designer? ???? ??
To ensure that DeFiGram.io offers the finest user experience in the market, our team is actively focused on improving the app's user interface and overall user experience. We believe that a seamless and intuitive design is essential to empower you to make the most of the DeFi opportunities at your fingertips.
As part of our commitment to constant improvement, we're also actively seeking a talented UI/UX designer to join our team. We value your recommendations and insights, and if you or you know someone who can bring their creative vision to elevate DeFiGram.io's user interface and user experience, we would truly appreciate your referrals!
At Empire Token, we believe that continuous improvement is the key to innovation. Our team is committed to crafting a user-centric platform that empowers you to make the most of DeFi opportunities while ensuring a secure and seamless environment. Your satisfaction remains at the core of our mission.
Once again, thank you for being a part of this extraordinary journey. Together, we're building a vibrant community and shaping the future of decentralized finance. Stay tuned for more updates and new features as we make DeFiGram.io the all-in-one DeFi solution. Your involvement and support are what drive us forward. Together, we're making waves in the world of decentralized finance.
Strengthening the Empire ??
As we continue our pursuit of excellence in the world of decentralized finance, we recognize the immense power of social media in bringing us together, sharing insights, and amplifying our voice. Our commitment to organic social media marketing is a testament to our belief in the strength of our community-driven approach.
Recently, we've taken a strategic step to restructure our team, streamlining our resources to focus on what truly matters – the development of DeFiGram.io and the success of Empire Token. This decision has allowed us to allocate our funds wisely, channeling them into enhancing the platform, ensuring its stability, and delivering top-notch features to our users.
As part of this strategy, we have mentioned in the past that we are not currently engaging in paid marketing campaigns. Instead, we're investing our time, effort, and creativity into improving our online presence through organic means. By embracing platforms like TikTok, Instagram, Twitter, and more, we aim to connect with our community on a deeper level, sparking conversations, sharing valuable insights, and celebrating the journey of decentralized finance together.
The Power of Community Engagement ??
Social media isn't just a platform; it's where our community thrives. From TikTok to Instagram and beyond, your engagement amplifies our message and propels us forward. Since we started posting our short form videos, we've witnessed the incredible power of social media in action. It's heartening to see new waitlist joiners for DeFiGram.io expressing interest in our platform. However, it's essential to clarify that our build has been shared exclusively with our community to test and provide feedback. The waitlisters, eagerly signing up for DeFiGram.io, will have access to the app during its public release. We can't wait to welcome you all to experience the revolutionary world of decentralized finance.
As we work together as a community to get the word out about DeFiGram.io and Empire Token, we multiply our impact. By engaging with our content, liking, sharing, commenting, and inviting your friends to join our community, you're helping us build a movement that's centered around financial empowerment and decentralized innovation.
Empire has always been a community-driven token. We firmly believe that community is the bedrock of our foundation. The bond we share as a united community has carried us through challenges, celebrated our triumphs, and inspired our shared aspirations. Just as Empire thrives on community building, DeFiGram.io stands as a testament to the strength that emerges when like-minded individuals come together. As we continue to grow and evolve, let us cherish the power of our collective and embrace the exciting journey that lies ahead.
Every journey is marked by twists and turns, and our current path is no exception. Today, we stand on the precipice of building a stronger Empire, fueled by the unwavering determination of each community member. Together, we will forge ahead, shaping the future of decentralized finance and propelling Empire Token to new heights. While our team may be smaller now, our resolve remains undiminished. As we stand united, we are poised to overcome challenges, celebrate milestones, and witness our Empire rise once more.
In these extraordinary times, the strength of our community shines through. Your unwavering support, thoughtful feedback, and active engagement have been instrumental in propelling us forward. We are grateful for each one of you who has contributed to the growth and success of Empire Token and DeFiGram.io.
So, let's rally together and make our voices heard. Anything you can ever dream of can start from the palm of your hands. Let's spread the word, inspire others, and share the boundless opportunities that crypto, especially Empire Token, brings to the table. Together, we'll reach new heights, and together, we'll shape the future of decentralized finance.
Stay connected, stay engaged, and let's pave the way for a brighter and stronger Empire!
Check out our socials! Visit?beacons.ai/empiretoken
A Culinary Tale that Unveils the Potential of DeFi ??
Last week, I had the pleasure of attending a Christening in the picturesque Camotes Islands, nestled within the beautiful province of Cebu in the Philippines. It was an enchanting experience, immersing in the simplicity of island living, where the locals gracefully balance their connection with nature and the digital world. While there, I stumbled upon a delightful culinary treasure that sparked a captivating conversation about the potential of DeFi.
As we gathered at the reception in front of a stunning white sand beach, an array of delectable dishes awaited us. Among them, the aroma of Lechon, a revered Filipino delicacy, instantly caught my attention. For those unfamiliar, Lechon is a whole pig marinated and roasted to perfection, acclaimed for its mouthwatering taste and crispy, flavorful skin. In Cebu, they masterfully blend special condiments to achieve a uniquely savory delight.
What made this encounter remarkable was not just the sumptuous feast but a fascinating story shared by my close friend, the proud parent of the newborn being baptized. A few days prior to the celebration, he ordered the Lechon and decided to pay for it using a popular digital banking app in the Philippines. However, to his dismay, the vendor did not receive the payment immediately. Understandably concerned, my friend reached out to the app's support team, only to be informed that it could take 3 banking days for the amount to reflect. The problem? What if the funds didn't arrive on time, and he found himself without any additional cash on hand? Funnily enough, I had an almost identical experience with the same company just a few weeks prior.
At that moment, my fiancé and I exchanged glances, instinctively realizing how this situation wouldn't have arisen in the world of cryptocurrencies. The magic of blockchain technology ensures that transactions are swift, transparent, and secure, without the uncertainties and delays encountered in traditional banking systems. Imagine if our friend had used crypto for the Lechon payment – the vendor would have received the funds almost instantly, without any need to worry about delays or intermediaries.
This little incident got me thinking about the transformative potential of decentralized finance and how it can positively impact people's lives, even in seemingly small but meaningful ways. The beauty of DeFi lies in its ability to provide accessible, efficient, and inclusive financial services to anyone, anywhere in the world. This captivating story, while seemingly modest, reinforces our commitment to building a robust and user-centric DeFi platform like DeFiGram.io.
Our journey with DeFiGram.io is not solely about creating a cutting-edge app; it's about empowering individuals worldwide to embrace the limitless possibilities of decentralized finance. Together, we will shape a future where financial services are accessible to all, irrespective of geographical barriers or bureaucratic hindrances.
To the moon and beyond,
Lyka ?
Ripple wins victory against SEC, or did it? ??
In a significant development on July 13, Ripple Labs emerged victorious in the United States District Court in the Southern District of New York as Judge Analisa Torres ruled partially in favor of the company in a case initiated by the Securities and Exchange Commission (SEC) in 2020.
The court's ruling granted summary judgment in favor of Ripple Labs, asserting that the XRP token is not considered a security in the context of programmatic sales on digital asset exchanges. This marks a notable win for the company in their legal battle with the SEC.
However, the SEC also achieved a victory of its own, as the judge ruled that XRP falls under the classification of a security when sold to institutional investors, as it met the criteria established in the Howey Test.
The SEC's lawsuit against Ripple aimed to compel the company to cease offering its XRP token, alleging that XRP was an unregistered security, thereby necessitating additional regulatory oversight.
Following the breaking news of the court ruling, the price of XRP experienced a rapid surge from $0.45 to $0.61 within minutes, representing a substantial increase of over 25% at the time of this article's publication.
The legal dispute between Ripple and the SEC has been ongoing since December 2020 when the regulatory agency sued Ripple and its two chief executives, Brad Garlinghouse and Chris Larsen, over allegations of conducting an unregistered securities offering.
XRP vs SEC Timeline ??
For those who may have missed it, below is a concise timeline of the key events in the Ripple vs. SEC lawsuit.
Dec. 21, 2020:?In a pivotal moment in 2020, the SEC filed a lawsuit against Ripple Labs, along with its CEO Brad Garlinghouse and co-founder Chris Larsen. The lawsuit alleged that they conducted an unregistered securities offering. Despite the challenge ahead, Garlinghouse affirmed Ripple's commitment to defend itself in court, paving the way for what would be a three-year long legal battle.
Dec. 28, 2020:?Following the SEC's legal action, Coinbase, a prominent cryptocurrency exchange, made the decision to delist the XRP token from its platform. The legal dispute and regulatory ambiguity surrounding XRP's classification were likely factors in this choice, impacting the token's availability on the exchange.
March 3, 2021:?Larsen and Garlinghouse stepped forward, challenging the SEC's fair notice regarding the classification of XRP as a security. They raised concerns about the lack of clear guidance provided to market participants, bringing important issues to the forefront of the case.
March 8, 2021: Following Larsen and Garlinghouse's arguments, the SEC swiftly petitioned the judge for an urgent hearing to discuss the fair notice issue and other relevant aspects of the case.
March 22, 2021:?Another pivotal moment arrived when Judge Sarah Netburn ruled that XRP possesses currency value and utility, distinguishing it from other cryptocurrencies like Bitcoin and Ethereum. This ruling marked a significant development in the case, shedding light on the unique attributes of XRP.
April 13, 2021:?Amid the legal proceedings, SEC Commissioner Hester Peirce introduced the Token Safe Harbor Proposal 2.0. This proposal sought to offer developers a three-year grace period, exempting them from securities laws to better understand their role in decentralized networks.
June 14, 2021:?The court granted an extension to the SEC, allowing them until August 31, 2021, to disclose their internal crypto trading policies. This extension provided the SEC with additional time to reveal insights into their operations concerning cryptocurrency trading and potential conflicts of interest.
August 31, 2021:?Following the extended deadline, the SEC was obligated to reveal its internal crypto trading policies. This disclosure aimed to provide transparency into the SEC's operations and how they could influence the ongoing case.
October 15, 2021:?The court set the expert discovery deadline. During this critical phase, the court sought the invaluable opinions of experts in cryptography and securities. Their insights and perspectives played a pivotal role in unraveling the intricacies of the case, providing a deeper understanding of the matters at hand. This collaborative effort between legal experts and specialists ensured a thorough examination and analysis of the complexities surrounding the litigation.
January 24, 2022: Judge Netburn granted the SEC an extension until February 17 to appeal her prior decision, which mandated Ripple Labs to disclose specific sensitive government documents.
September 17, 2022:?A momentous step in the legal proceedings occurred as both the SEC and Ripple Labs submitted their initial motions for summary judgment. These motions served as comprehensive presentations of each party's arguments and stances concerning the case.
September 21, 2022:?The court granted approval to the Chamber of Digital Commerce, an American advocacy group for blockchain technology, to submit an amicus curiae brief. An amicus curiae brief, often referred to as a "friend of the court" brief, is a legal document filed by a third party with a strong interest in a case's outcome. While not directly involved in the litigation, the amicus curiae provides additional insights, expertise, and perspective to assist the court in making a well-informed decision. It allows interested organizations or individuals to contribute valuable information that could impact the court's understanding and judgment of the case.
December 2, 2022:?The SEC and Ripple Labs made public their respective replies supporting their summary judgment motions. These disclosed documents offered further insights into the legal arguments presented by both parties and their responses to the opposing side's motion.
December 22, 2022:?The SEC sought to prevent the release of the Hinman documents within the XRP lawsuit, including any mentions of these documents in court submissions by Ripple Labs. The matter of the Hinman documents underwent an extended back-and-forth discussion between Ripple and the SEC, with debates over their pertinence and potential impact on the case.
June 12, 2023:?After a lengthy legal process, the Hinman documents were eventually unsealed and made accessible to the public. These documents, containing the internal communications of William Hinman, the former director of the SEC's Division of Corporation Finance, carried potential significance in the ongoing Ripple vs. SEC lawsuit, bringing new dimensions to the unfolding legal battle.
July 13, 2023:?In a momentous ruling, Judge Torres determined that Ripple did not violate the law when XRP was traded on public exchanges, resulting in a victory for the cryptocurrency sector amid its legal challenges with U.S. regulators. Nevertheless, it is important to acknowledge that the decision was not entirely in the industry's favor, as Ripple was found to have breached securities laws when offering XRP to hedge funds and other institutional buyers.
What does this mean for the crypto industry? ??
While the recent court ruling in favor of Ripple might appear as a victory for the crypto industry, it's important to recognize that this decision may not be the final resolution for two crucial reasons.
Firstly, the SEC still retains the option to appeal the judge's decision in the Ripple case, which could lead to further legal proceedings and potential changes in the ruling. Secondly, the ultimate classification of crypto assets from a regulatory perspective may ultimately be determined by Congress through new legislation, as highlighted by SEC Commissioner Hester Peirce's advocacy.
Preston Byrne, a Partner at Brown Rudnick, shared his view that the SEC is likely to appeal the ruling, anticipating a potential overturn of the current decision. Additionally, legal experts emphasize that this is just one district court's ruling, and other courts might choose to adopt or diverge from it.
Byrne specifically points out that the court's conclusion regarding "programmatic" sales of XRP on exchanges not being investment contracts is an error. He believes that regardless of whether purchasers were aware they were buying from Ripple, it is evident to those involved in the industry that Ripple is the primary promoter of XRP.
Despite the uncertainty surrounding the Ripple case and its potential implications, the crypto industry continues to demonstrate resilience and growth. The court ruling, though significant, does not overshadow the remarkable progress made by the industry as a whole.
In recent years, the world of cryptocurrencies has seen remarkable advancements, attracting increased interest from both retail and institutional investors. The innovative technologies and transformative potential of blockchain continue to captivate the global financial landscape.
Moreover, regulatory authorities and lawmakers are actively engaging in discussions and deliberations to provide clearer guidelines and frameworks for the crypto market. This proactive approach signifies a maturing industry and an acknowledgment of the importance of fostering innovation while ensuring consumer protection.
As the crypto community eagerly awaits further developments in the Ripple case, it's crucial to remember that this is just one chapter in the evolving narrative of digital assets. The unwavering spirit of collaboration, innovation, and adaptability within the crypto industry will undoubtedly pave the way for a promising and sustainable future.
With continued dialogue between industry stakeholders, regulators, and lawmakers, we can strive to strike a balance that fosters innovation, protects investors, and embraces the transformative potential of decentralized technologies.
The road ahead might be filled with twists and turns, but the crypto community's commitment to positive change and progress remains steadfast. Together, we'll shape a future where blockchain and digital assets revolutionize finance and empower individuals worldwide. –with reports from Cointelegraph and Investopedia.
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That's a wrap, folks! ????
As we conclude another edition of the Empire Prime Time, we’d like to extend our heartfelt gratitude to each one of you for being an integral part of the Empire community. Your support, engagement, and passion for decentralized finance have been the driving force behind our progress and achievements.
In this newsletter, we've witnessed the power of community, explored exciting updates about DeFiGram.io's development, and celebrated the recent victory for Ripple Labs in the legal battle against the SEC. We've also savored a captivating story that reminds us of the transformative potential of DeFi in revolutionizing financial transactions.
At Empire Token, we are committed to empowering you with cutting-edge solutions and opportunities in the world of decentralized finance. As we continue our journey together, we look forward to bringing you more updates, features, and innovations that enhance your DeFi experience.
Remember, this movement thrives on unity, trust, and collaboration. Together, we are building a stronger Empire and shaping the future of decentralized finance. Stay connected, stay engaged, and let's make waves in the world of crypto!
Thank you for your unwavering support. Until next time, happy investing, and let's forge ahead into a brighter and decentralized future.
Keep Climbing! ??