Welcome to our latest FNDZ update

This week was far better for Bitcoin, with prices rising from $21,000 to over $23,000 at the time of writing, a 12.57% increase.

The biggest surprise was Ethereum which saw a 33% increase at one point. This is mainly due to the news that the Ethereum network upgrade is called "The Merge". With "The Merge", Ethereum will move from the energy-intensive proof-of-work consensus mechanism to a more efficient proof-of-stake system. The proposed date for this upgrade is September 19.

Also this week, Ethereum co-founder Vitalik Buterin announced the next phase of the Ethereum network's development, which will include four more phases over time. They are called "The Surge," "Verge," "Purge" and "Splurge." The "Splurge" will allow Ethereum to process about 100,000 transactions per second, according to Vitalik's ambitious roadmap.

More news: Federal authorities have filed criminal and civil lawsuits against a former Coinbase employee and two other men for insider trading. The case involves confidential information about cryptocurrency assets that were to be listed on the Coinbase exchange. The three men were involved in several trades over a 10-month period using information about 14 listings on Coinbase, making $1.5 million in illegal profits. This case is the first time insider trading charges have been filed involving cryptocurrency assets.

This week, the number of FNDZ tokens staked on the platform increased by over 200k to a total of 5.4 million FNDZ tokens. This is almost 24% of the current circulating supply.

Our index vaults have now been live for two weeks and capitalized on market growth. All index vaults are currently rising in value which is great news for depositors.

Best performing vaults

1. Most Popular: ETH-Heavy;
2. Best Performance: ETH-Heavy;
3. Most Depositors: ETH-Heavy;
4. Highest total value locked (TVL): ETH-Heavy index.

Overall the ETH Index funds are outperforming the BTC index funds in the last two weeks.

Many of you asked us why you’re unable to make a deposit or stake FNDZ tokens. The most common reason is that you don’t have enough BNB in your wallet to pay for transaction fees.

When you make a deposit, stake or withdrawal on the FNDZ platform, the transaction gets processed on the blockchain. This requires gas to pay for the transaction. Since FNDZ uses Binance Smart Chain, gas fees are paid in BNB. The gas fees can vary depending on network usage and can range from $0.05 to $3-$4 depending on the time of day.

So please make sure you have enough BNB in your wallet to cover the cost. If you don’t have BNB, you can get some here.

Small tip: It is better to have more BNB than you need. For example, 0.1 BNB will last you a long time and is less costly than buying BNB every time you need to make a transaction.

We’re continuing to approach crypto companies with the option to start their own index for their community. Feel free to reach out to the team if you know of any traders or companies that could benefit from launching their own trading or index vault.

Spread the word and tell your friends about FNDZ, the home of copy trading!