Nigeria’s Xend Finance introduces DeFi tools to scale operations. 2 other things and a trivia | Ripples Nigeria
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Nigeria’s Xend Finance introduces DeFi tools to scale operations. 2 other things and a trivia

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This line-up of stories will help you discover the latest happenings around the tech world, today.

1. Nigeria’s Xend Finance introduces DeFi tools to scale operations

Nigerian fintech startup Xend Finance has joined a list of tech companies to adapt decentralised finance (DeFi) tools as it looks to optimise operations and provide better yields.

The startup allows users create their own credit unions and cooperatives, eliminating traditional middle men, while earning up to 15 per cent annual percentage yield on their savings.

In 2019, Xend Finance took part in the Google Launchpad Africa accelerator and the Binance Incubation Programme, learning industry expertise to enhance its operations.

Today, it has developed a platform that gives everyone access to the global money market so members can save and invest in stable currencies.

In 2020, the startup launched its platform publicly, after raising US$1.5 million in funding from investors including Binance Labs, Google Developers Launchpad and AU21 Capital.

Tech Trivia: The world’s most expensive phone is…

A. Falcon Supernova iPhone 6 Pink Diamond Edition
B. Stuart Hughes iPhone 4s Elite Gold
C. Goldstriker iPhone 3GS Supreme
D. Diamond Crypto Smartphone

Answer: See end of post.

2. Jack Ma Foundation opens applications for Africa Business Heroes competition

The Jack Ma Foundation has opened calls for application for the 2021 African edition of the Business Heroes competition.

The initiative, which is a Jack Ma Foundation flagship philanthropic programme in Africa, annually awards 10 outstanding finalists with a share of a US$1.5 million grant.

According to reports, the competition is in its third year, and looks to give African entrepreneurs a platform to showcase their talent and grow their businesses.

READ ALSO: Nigerian Fintech, Sparkle, launches service to empower SMEs. 2 other things and a trivia

The central theme of this year’s competition, “It’s African Time”, is a call to action for all talented African entrepreneurs.

The board has however noted that this entrepreneurs must be challenging stereotypes associated with “African time” through their businesses, to leverage the prize to scale their efforts as well as share their stories of how they have driven change and solutions.

Applications are now open in English and French for “heroes” across all sectors and African countries, with special emphasis on those working to achieve the UN SDGs.

3. Patreon raises valuation to $4 billion

Creator economy platform, Patreon, has raised its valuation to $4 billion.

The jump in the valuation comes on the heels of the company’s new raiser of a $155 million funding round.

Media reports revealed that the funding round was led by Tiger Global.

The creator economy platform allows artists to be directly funded by their fans, received new attention amid the Covid-19 pandemic as creators were forced to push more of their work online.

Patreon makes money by taking a 5-12 percent fee from creators depending on which of the company’s services they use.

Tech Trivia Falcon Supernova iPhone 6 Pink Diamond Edition

The world’s most expensive phone is the Falcon Supernova iPhone 6 Pink Diamond Edition, costing an unbelievable $48.5 million.

The Falcon Supernova is a customised iPhone 6, introduced in 2004, that’s covered in twenty-four-carat gold and decorated with one massive pink diamond on its rear.

Its also coated in platinum and features hack prevention technology to keep the owner’s information safe from unwanted prying eyes.

The Pink Diamond Falcon Supernova is the prised position of Asia’s richest man’s wife, and Indian cricket team owner, Nita Ambani.

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