Day: October 8, 2021

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Jet Protocol Lists on AscendEX

Singapore, Oct. 08, 2021 (GLOBE NEWSWIRE) — AscendEX is thrilled to announce the listing of the Jet Protocol token (JET) under the trading pair JET/USDT on Oct. 14 at 1 p.m. UTC. To celebrate the listing of JET, AscendEX will host two separate auctions that will take place simultaneously on October 13 between 1 p.m. and 2 p.m. UTC.

Jet Protocol will be launched as an open-source, non-custodial, borrowing and lending protocol on the Solana Blockchain. It engineers new possibilities for capital efficiency, performance, and scalability. Jet allows users to participate in lending pools where they deposit supported tokens to receive interest, or “yield” over time, as a participation incentive. Those deposits remain in a pool used for issuing loans to other users for as long as the assets remain delegated.

Jet believes that borrowing and lending protocols are integral to the DeFi ecosystem. The decision to build on Solana was based on its unmatched transaction speed and low fees. The Solana integration will allow Jet to contribute and grow on-chain DeFi lending. The project anticipates a gradual integration of broader interest and more efficient trading. In addition to lending, Jet will introduce interest rate products and secondary markets on Serum, facilitating ongoing, community-driven, lending product research and development. Through these methods, Jet makes it easy for users to earn interest with their JET tokens.

Jet is planning to launch with a dedicated governance system that leverages their founding team’s unique and extensive experience in protocol governance. This governance-oriented approach aims to work with the community to set a clear precedent toward how the Protocol will operate. Jet will innovate on tested governance models from existing protocols while focusing on community ownership and engagement. The most important aspect of this approach is to build an inclusive community to research, design, and implement useful lending products. So, the token holders will have a say in the future of the platform. This focus on community is core to Jet’s mission of bringing DeFi protocols into the mainstream.

Prior to a successful mainnet launch this week, Jet recently completed a follow-on funding round that included AscendEX among other partners bringing in a total of $6.8mm to the project. This latest fundraise has highlighted the strong support for Jet from a variety of stakeholders including AscendEX.

About AscendEX
AscendEX is a global cryptocurrency financial platform with a comprehensive product suite including spot, margin, and futures trading, wallet services, and staking support for over 200 blockchain projects such as bitcoin, ether, and ripple. Launched in 2018, AscendEX services over 1 million retail and institutional clients globally with a highly liquid trading platform and secure custody solutions.

AscendEX has emerged as a leading platform by ROI on its “initial exchange offerings” by supporting some of the industry’s most innovative projects from the DeFi ecosystem such as Thorchain, xDai Stake, and Serum. AscendEX users receive exclusive access to token airdrops and the ability to purchase tokens at the earliest possible stage. To learn more about how AscendEX is leveraging best practices from both Wall Street and the cryptocurrency ecosystem to bring the best altcoins to its users, please visit www.AscendEX.com.

For more information and updates, please visit:
Website: https://ascendex.com
Twitter: https://twitter.com/AscendEX_Global
Telegram: https://t.me/AscendEXEnglish
Medium: https://medium.com/ascendex

About Jet Protocol
Jet Protocol will launch as an open-source, non-custodial borrowing and lending Protocol on the Solana Blockchain. Jet re-engineers what’s possible in terms of capital efficiency, performance, and scalability on Solana. The Protocol allows users to participate in lending protocols where they deposit supported tokens to the platform and then receive interest on their deposits to incentivize participation.

For more information and updates, please visit:
Website: https://Jetprotocol.io
Twitter: https://twitter.com/JetProtocol
Telegram: https://t.me/jetprotocol
Discord: https://discord.gg/BsF3cEbdV9

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Marketing Department
AscendEX
[email protected]

Copyright © 2021 GlobeNewswire, Inc.

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Pakistan’s Energy Sector Circular Debt Falls 85% Between July and August

Minister for Energy, Hammad Azhar, said on Friday that the flow of circular debt from the energy sector has started decreasing.

The energy minister tweeted that the flow of circular debt in the power sector during July and August fell to Rs. 13 billion from Rs. 86 billion, a decrease of 84.77%, compared to the same period last year.

The energy sector’s circular debt is “a vicious cycle of unpaid bills in the power sector, starting from the power generation end of the process, and going all the way to the distribution process to recovery and electricity theft,” according to an article by Business Recorder.

The circular debt stood at Rs. 2,280 billion as of June 30, 2021, as compared to Rs. 2,150 billion as of June 30, 2020, and has reached Rs. 2.327 trillion as of August 31, 2021.

The country’s commercial banks have reportedly refused to finance power projects due to the energy sector’s circular debt.

A report recently published by the National Electric Power Regulatory Authority (NEPRA) highlighted some of the main issues plaguing the power sector.

In its “State of Industry Report 2020-21,” NEPRA said that a number of cost-efficient power plants are being underutilized.

The regulator added that distribution and high transmission losses, failure of payment of subsidies, and low recovery of the billed amount were some of the major reasons behind circular debt.

Some other reasons that contribute to the power sector’s circular debt include insufficient consumer tariffs that compensate for the rising costs of power generation, as well as challenges associated with the recovery of dues from consumers.

At the same time, the electricity generation cost per unit (kWh) has increased by up to 61.55 percent in August 2021 compared to August 2020.

Meanwhile, the federal cabinet has approved a seasonal electricity discount measure, through which it will provide a Rs. 7 per unit relief for electricity consumers that utilize the surplus electricity between November and February.

Source: Pro Pakistani

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Renowned Commentator Mike Haysman Falls in Love With Pakistan’s Hospitality [Video]

Renowned cricket commentator, Mike Haysman, talked about his journey as a cricket commentator and his experience in Pakistan in a video interview released by Pakistan Cricket Board (PCB) on various social media platforms.

Haysman said that he has always loved to travel to Pakistan and appreciated the hospitality he has received in the country over the last couple of weeks.

The former cricketer said that he toured the country for the first time for commentary duty during the 1996 ICC Cricket World Cup, and he was so excited to come to Pakistan because the country had always fascinated him.

He added that this is his seventh tour of the country, and he has always felt the love the fans have for cricket in the country. He added that the people in the country are always hospitable, and they go out of their way to make him feel at home.

The 60-year old also talked about his friendship with the newly elected Pakistan Cricket Board (PCB) chairman, Ramiz Raja. He revealed that he really enjoys Ramiz’s company, and both the commentators were traveling buddies whenever Ramiz came to South Africa for his commentary duties.

Haysman said that Ramiz’s appointment as PCB’s chairman is a positive sign for Pakistan Cricket as Ramiz has a set idea on how to take the cricket in the country forward. He added that Ramiz will rattle a few cages as he is a determined man, and that will help in developing cricket in Pakistan.

Source: Pro Pakistani

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PCB Makes Much-Needed Changes to Pakistan Squad for T20 World Cup

The Pakistan Cricket Board (PCB) has announced a few changes in its squad for T20 World Cup 2021. The three changes include Sarfaraz Ahmed, Haider Ali, and Fakhar Zaman.

The trio comes in place of Azam Khan, Mohammad Hasnain, and Khushdil Shah. Fakhar Zaman, who was originally in the reserve players, has been swapped with Khushdil Shah. Khushdil will also travel with the team as a traveling reserve, an option provided by the ICC due to COVID-19 related emergencies.

Besides the change, the 15-man squad includes the expected names such as Mohammad Rizwan, Mohammad Hafeez, Shaheen Afridi, and Hasan Ali, alongside a few surprise picks including Asif Ali and Mohammad Wasim Jnr.

Pakistan will start their campaign with a high-octane encounter against arch-rivals India on 24th October. They will then go on to face New Zealand, Afghanistan, and two qualifiers from round one.

Source: Pro Pakistani

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President to inaugurate Pakistan Pavilion in Dubai Expo 2020

President Dr Arif Alvi will pay a two-day visit to United Arab Emirates today (Saturday) to inaugurate Pakistan Pavilion at Dubai Expo 2020.

Themed as ‘Hidden Treasure’, the Pakistan Pavilion showcases the unexplored and undiscovered riches of the country. It has become one of the top destinations among visitors, having welcomed a large number of people since the Expo commenced.

Dr Arif Alvi will visit different sections of Pakistan Pavilion, located at one of the prime areas of the Expo site and considered the largest such pavilion outside the country.

During the visit, the President will meet UAE dignitaries and leading businessmen, investors, entrepreneurs, senior representatives of information technology companies and media.

He will be the chief guest at an event on Roshan Digital Account and Roshan Apna Ghar, the initiatives launched by the government to facilitate the expatriates.

Source: Radio Pakistan

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Punjab Bans Teachers From Using Social Media & Speaking With News Channels

In an absurd development, the Punjab government has decided to ban employees of government colleges from using social networking platforms and speaking with media.

The ban has been imposed by the Directorate of Public Instructions (DPI) Colleges Punjab. It comes into effect immediately and will be applicable to all teachers and principals of government colleges across the province.

In the official notification issued in this regard, DPI has claimed that the use of social media platforms by the teachers and principals of public colleges is against the Punjab Government Service Rules (PGSR).

The notification mentioned that DPI has observed that they have been using social networking platforms to air their views on a wide range of topics that do not conform to official conduct enshrined in the PESR.

From disclosing the official information to disseminating the wrong or misleading information to the airing of political or sectarian views, the teachers and principals of government colleges have been found involved in a number of such acts.

Therefore, DPI has decided to impose a ban on them for using social media platforms and speaking with media outlets.

In case of violation of the stated directive, DPI will initiate disciplinary proceedings against the teachers and principals of government colleges under PGSR.

Under the PGSR, teachers and principals of public colleges are prohibited from speaking with media without obtaining prior permission from the government.

They are also banned from sharing official information and documents with unauthorized government servants, private employees, or members of the media.

They are also forbidden from giving any statement which could embarrass the provincial government on any public platform, TV program, or radio broadcast.

Teachers and principals of government colleges are also prohibited from sharing views that go against the national integrity and the provincial government or any of its decision.

They are barred also from expressing opinions that could compromise national security, harm friendly relations with other countries, derail public order, promote indecency, stir sectarian violence, or amount to contempt of court.

Source: Pro Pakistani

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Early diagnosis of breast cancer best prevention of disease: President

President Dr Arif Alvi has said early diagnosis of breast cancer is the best prevention of the disease.

Inaugurating the breast cancer awareness campaign in Islamabad on Friday evening, he said breast cancer is a curable disease and its early detection enhances chances of cure and recovery to 90 percent. He said women should spend at least five minutes on their self-examination to detect breast cancer so that timely treatment can be started.

The president also emphasized on breast feeding to infants to protect mothers from various kinds of diseases, including the breast cancer.

Speaking on the occasion, First Lady Begum Samina Alvi said talking about breast cancer is no more a taboo due to growing awareness amongst women about the disease. She urged the women and girls to spare five minutes a month for their self-examination to detect any cyst to prevent or cure breast cancer at any early stage. She said early detection of the breast cancer enhances chances of survival against the disease.

Begum Samina Alvi appreciated media’s role in creating awareness about the breast cancer.

Source: Radio Pakistan