PRESS RELEASE. June 27, 2024 — DeltaPrime, a decentralized borrowing and investing platform, is thrilled to announce their Token Generation Event (TGE) on Uniswap and Trader Joe. The TGE marks another innovation in crypto with the launch of the $PRIME and $sPRIME tokens on July 1st, 2024. Born in the bear market and operating on […]
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MATIC Price Tests 8-Month Support As Polygon Unveils New Governance Hub
Polygon’s native token, MATIC, has experienced a notable disparity compared to the broader cryptocurrency market. Unlike the top cryptocurrencies that have posted double-digit gains year-to-date, MATIC has failed to post positive performance across all time frames since the 2021 bull run.
Adding to the concern, MATIC’s price has recorded losses amounting to 16.5% over the past seven days. This downward trend has prompted the token to test a crucial macro support level, raising questions about its future trajectory.
Amid these developments, Polygon has announced a strategic partnership with Aragon, a developer of decentralized autonomous organizations, to introduce a “governance hub” for the Polygon community.
Simplified Governance Hub For Polygon?
According to a recent blog post by the Layer 2 solution protocol, the governance hub is “designed to empower” users and builders, allowing them to influence the core development of Polygon’s technology. The hub will reportedly be developed in phases in collaboration with Aragon to ensure that community feedback is incorporated to create a decentralized platform that aligns with community values.
The governance hub will feature a unified interface for “two essential pillars” of Polygon’s governance: protocol and system smart contract governance.
The hub seeks to increase transparency and encourage greater community participation in protocol governance. As for system smart contract governance, it introduces an upgraded framework that prioritizes structured decision-making processes while maintaining transparency and safety.
In addition, Aragon will leverage its expertise to build the Polygon Governance Hub using Aragon OSx. This tool enables the construction of customized on-chain governance solutions that can be adapted over time through a modular plugin-based architecture. Polygon stated in its announcement:
Polygon, and all related network architecture, needs flexible, transparent, and future-proof governance mechanisms and tooling. The Polygon Governance Hub is central to achieving this.
MATIC Market Capitalization Drops Dramatically
Despite the developers’ focus on community governance within the Polygon ecosystem, key metrics indicate a consistent decline in the MATIC token’s price over the past year.
For instance, the token’s market capitalization has experienced a significant drop, plummeting nearly 50% in just three months. In March, it was valued at .9 billion, whereas it is currently valued at .6 billion. This decline suggests a potential capital shift towards other large-cap tokens or profit-taking activities.
Furthermore, MATIC’s trading volume has also seen a notable decrease of approximately 18% in the past 24 hours, according to CoinGecko data. The trading volume now stands at a mere 3 million. Moreover, MATIC has witnessed a substantial 80% decline from its all-time high of .92 in December 2021.
Presently, the token faces a critical test at an 8-month support level, as depicted in the MATIC/USD daily chart below, with its current trading price at .5982. Should the price continue to decline without a significant catalyst to drive an upward trend and price recovery, attention should be paid to the next support level at .5700.
The future trajectory of the MATIC price remains uncertain, and it remains to be seen whether further downside movement is in store or if a bounce at the current support level will materialize, offering potential opportunities for bullish investors.
Featured image from DALL-E, chart from TradingView.com
Zksync Introduces Community Governance With ZK Nation
Zksync, an Ethereum layer two (L2) network developed by Matter Labs, has launched a new community-driven governance system named ZK Nation. The system aims to enhance the governance, security, and scalability of the Zksync protocol through active community participation. ZK Nation: New Governance Framework Introduced by ZKsync According to the announcement, the ZK Nation governance […]
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Uniswap Governance Votes Unanimously to Empower UNI Holders With Protocol Fee Rewards
In a landmark governance decision, Uniswap’s community has voted unanimously in favor of a proposal to reward UNI token holders who stake and delegate their tokens. The upgrade, aimed at revitalizing the protocol’s decision-making process, has garnered overwhelming support with over 10 million UNI tokens pledged in its favor. Historic Vote to Reward UNI Holders […]
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Gauntlet Withdraws From Aave Partnership, Citing Governance Challenges
Gauntlet has decided to withdraw from its role as Risk Steward for Aave, pointing to governance and operational challenges as the main reasons. This announcement marks the end of a four-year collaboration that has helped in growing Aave. Gauntlet Ends Partnership With Aave Due to DAO Disputes Gauntlet, a blockchain risk management firm, has officially […]
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CAGA Crypto’s Quantum Leap: Liquid Staking, Governance, and Listings on Gate.io and Bitmart
PRESS RELEASE. USA, New York, November 23, 2023 – In the dynamic realm of decentralized finance (DeFi), CAGA Crypto emerges as a remarkable example of innovation and community-driven governance. As it prepares for listing on major centralized exchanges – Gate.io, Bitmart, the crypto community is abuzz with anticipation. Here’s an exclusive look into the groundbreaking features that set CAGA Crypto apart and the strategic vision propelling it into the future.
Gate.io and Bitmart Listings: Triumphant Entry into Mainstream Crypto Exchanges
CAGA Crypto is set to make its presence felt on the global stage with listings on three prominent centralized exchanges. On November 29, 2023 – 9 AM UTC, Gate.io will unlock access to CAGA for traders and investors, followed by Bitmart on November 30, 2023 – 3 PM UTC.
Gate.io: Where Global Cryptocurrency Excellence Unfolds
Gate.io, established in 2013, stands as a global crypto exchange powerhouse. Renowned for its top-tier trading volume globally, it offers a comprehensive blockchain platform. As it gears up to list CAGA Crypto on November 29, 2023 – 9 PM UTC, Gate.io maintains its status as a pillar of innovation, facilitating seamless crypto transactions for a diverse range of traders and investors.
Bitmart: Worldwide Hub for Digital Currency Enthusiasts
BitMart, a global crypto exchange with a presence in 180+ countries, provides a robust platform for buying and selling over 1,000 digital currencies and tokens. Its user-friendly interface and extensive features make it a go-to choice for crypto enthusiasts worldwide. Scheduled to list CAGA Crypto on November 30, 2023 – 3 PM UTC, BitMart continues to redefine the landscape of global crypto trading.
About CAGA Crypto: DAO Shaping Future of Finance Collectively
CAGA Crypto distinguishes itself through a decentralized autonomous organization (DAO) model, driven by its dedicated token holders – the CAGA community. Anonymity and shared decision-making form the backbone of its operations, enabling the community to wield absolute power in shaping the project’s trajectory.
The DAO relies on liquid staking and shared governance, encouraging active participation from stakeholders. The goal is to build a robust network of individuals passionate about profitable ventures in the Web 3.0 landscape.
Liquid Staking: Non-Fiction Governance and Generous Rewards
CAGA Crypto’s innovative approach to liquid staking involves pledging CAGA or ETH tokens, receiving liquid staking tokens (cgCAGA or cgETH) in return. This allows participants to propose platform changes, earn rewards, and accumulate voting power.
Staking on CAGA Crypto not only brings potential rewards based on the staked amount and chosen asset but also grants users the power to participate in community votes and share in the treasury’s earnings. The voting power is directly tied to the number of staked tokens, promoting fair and transparent governance
DAO Governance: 100% Community-Centered Approach
With a commitment to decentralization, CAGA Crypto empowers its members to shape the project’s direction. The DAO model focuses on inclusive decision-making processes across multiple governance categories, ensuring transparency in financial strategy, operations, technical development, compliance, and community development.
The Treasury, a central entity within the DAO, grows through returns on investments, partnerships, and acquisitions. Community members have a direct say in allocating funds, ensuring the long-term growth of the DAO.
CAGA Crypto’s Bright Launch Shakes Up DeFi Space
Since its much-anticipated launch, CAGA Crypto has ignited a fervor in the decentralized finance space. The market’s response has been overwhelmingly positive, with a substantial surge in token price and trading volume. CAGA has also secured a spot in CoinMarketCap, reflecting its growing prominence.
What Sets CAGA Crypto Apart?
Innovative staking rewards, dynamic DAO organization, transparent treasury management, liquid staking tokens, educational initiatives, and unwavering security fundamentals are the pillars defining CAGA Crypto’s success. Its commitment to user education ensures an empowered and informed community, contributing to sustained involvement and wise investment decisions.
Road Ahead: Glimpse into CAGA Crypto’s Future
CAGA Crypto’s roadmap promises an exciting future of service expansion and innovation. As it continues to captivate the crypto community, the buzz surrounding its launch is just the beginning. CAGA Crypto is not merely a platform. It is a movement toward a decentralized financial future, placing the community at its core with a clear vision for growth.
CAGA Crypto – Decentralized Financial Movement
The excitement surrounding CAGA Crypto’s launch is well-founded. Its innovative, transparent, inclusive, and rewarding approach to DeFi marks a significant leap toward a decentralized financial future. With the community at its core and a clear growth vision, CAGA Crypto is a movement shaping the future of finance collectively. As it prepares to debut on Gate.io and Bitmart, the crypto world eagerly awaits the next chapter in the CAGA’s saga.
Join CAGA Crypto Movement: Your Ticket to Decentralized Future
As CAGA Crypto prepares to dazzle on Gate.io and Bitmart, they invite you to be a part of this revolutionary journey. Do not miss out on the chance to stake your claim in this dynamic community. Stake your tokens, wield your voting power, and actively participate in shaping the direction of CAGA. As they unlock new opportunities on major exchanges, your involvement becomes pivotal. The upcoming listings mark a milestone, propelling CAGA Crypto to greater heights.
Get ready to trade, stake, and engage with a community passionate about profitable Web 3.0 ventures. Subscribe to their newsletter on the official website, follow them on Twitter, Telegram, Instagram or Discord, and stay tuned for updates. The journey to a decentralized financial future begins now. Join CAGA Crypto – where innovation meets community, and your voice matters!
Do not just witness this exciting moment. Be a part of it. Stake, trade, and shape the future with CAGA Crypto!
***
Contacts
Telegram: https://t.me/cagacrypto
Telegram Community: https://t.me/cagacryptogroup
Discord: https://discord.com/invite/cagacrypto
Twitter: https://twitter.com/_cagacrypto
Brand:
CAGA Crypto
Contact:
Media team
E-mail: partnership@cagacrypto.com
Website: https://www.cagacrypto.com/
SOURCE: CAGA Crypto
This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
Blockchain Governance — A Look at the Top 5 DAO Treasuries in 2023
Over seven years ago, on April 30, 2016, the first decentralized autonomous organization (DAO) emerged, marking a significant shift in the digital world. However, just three months later, a cyberattack brought it down, leading to its unfortunate collapse. Today, the landscape has transformed dramatically, with numerous DAOs thriving, and 179 treasuries surpassing million. In total, these organizations hold billion in assets, both liquid and vested. As of 2023, the top five DAO treasuries alone hold billion, spread across various token assets.
2023’s Leading DAOs
Various sectors in the world of digital assets have been hit by the crypto winter but decentralized autonomous organizations (DAOs) have seen growth. In essence, a DAO stands as a digital governance model, orchestrated by smart contracts, with decisions documented on a blockchain. With 179 DAO platforms overseeing assets surpassing million, the following is an overview of the top five DAOs as they stand in 2023.
On April 15, 2022, the DAO ecosystem had a valuation of .8 billion. As of today, the combined value of DAOs has risen significantly to billion. This evolution continued into 2022 when the top-ranking DAOs had a different composition. Uniswap and Bitdao, which has subsequently rebranded as Mantle, occupied the top positions. However, there has been a shift in dynamics, with the other three contenders on the top-five list—Uxd Protocol, Mango DAO, and Lido’s DAO—yielding their positions.
Arbitrum DAO
The Arbitrum DAO, with the largest treasury among DAOs, leverages a community-driven governance model facilitated by the arbitrum (ARB) token. This DAO is closely connected to the layer two (L2) Ethereum scaling network, Arbitrum. In addition to governance, Arbitrum DAO operates a comprehensive treasury system and security council to enhance its operational efficiency. Currently, its treasury holds a diverse array of assets valued at .4 billion, including ARB and various stablecoins.
Optimism Collective
While most DAOs mainly hold native tokens, a considerable number have diversified into stablecoin crypto assets. The second-largest DAO by assets under management (AUM) is tied to the L2 scaling protocol Optimism. The Optimism Collective‘s treasury holds .1 billion in various assets, including OP, the DAO’s native asset for digital governance. The governance structure of Optimism’s DAO is uniquely shared between two entities: the Citizens’ House and the Token House.
Mantle
Arbitrum and Optimism optimize their respective networks for treasury operations, yet Mantle (formerly Bitdao), ranking as the third-largest DAO, administers billion in AUM utilizing the Mantle network for its treasury management. The DAO made its debut in August 2021 and underwent a transformation from Bitdao to Mantle, following a governance vote on May 19, 2023.
Uniswap DAO
Ranking fourth in 2023 is the Uniswap DAO, commanding a treasury currently valued at .7 billion. Affiliated with the Uniswap decentralized exchange (dex) protocol, the Uniswap DAO manages a treasury comprising its native token UNI, along with various fiat-pegged tokens. Governance within this organization is conducted through UNI tokens, entrusting the DAO with decision-making and the implementation of modifications to the Uniswap dex.
Gnosis DAO
Securing its position as the fifth-largest DAO in 2023 is the Gnosis DAO. This entity is dedicated to crafting infrastructure to bolster the Ethereum ecosystem, playing a pivotal role in the development of products like Gnosis Safe, Cow Protocol, and Zodiac, which serves as a standard and toolkit for creating decentralized applications (dapps) on Gnosis. In its treasury, the Gnosis DAO manages assets worth 3 million in AUM, including GNO, ETH, and various stablecoins.
Beyond the top five DAOs ranked by treasury size, the subsequent five in the top ten spectrum manage assets ranging from 0 million to 0 million. The DAO landscape today is active, with more than 8 million governance token holders and 2.8 million entities actively participating in voting and proposal creation. In a striking comparison, the current top five DAOs are collectively about 73.33 times larger than the 2016 DAO, which had a value of 0 million.
What do you think about the top five DAO treasuries in 2023? Share your thoughts and opinions about this subject in the comments section below.
UniLend Finance Empowers Community Governance with the Launch of UFTG Token
PRESS RELEASE. UniLend Finance, a leading decentralized finance (DeFi) protocol is thrilled to announce the launch of its new wrapped governance token, UFTG (UniLend Finance Governance Token) as the revolutionary protocol approaches closer to Governance launch on 4th September.
This groundbreaking token signifies UniLend’s commitment to community-driven decision-making and plays a pivotal role in making a decentralized future. However, it’s crucial to clarify that UFTG is a wrapped version of UFT; we are not releasing or transitioning to a new token.
UFTG: A Gateway to Empowering Governance Participation
UFTG is the governance token that wraps native UFT tokens, enabling users to actively participate in UniLend governance processes. With a seamless 1:1 swap mechanism between UFT and UFTG, UFTG is the cornerstone of our Governance model, offering the key to the door of active community engagement in shaping the future of UniLend.
UniLend recognizes the importance of decentralization and inclusivity in the governance process. With the introduction of the UFTG token, the protocol aims to empower its community members and provide them with a direct voice in determining key parameters and improvements.
https://twitter.com/UniLend_Finance/status/1696211310986543292?s=20
Key highlights of the UFTG token and its role in community governance include:
- Voting Power: UFTG holders will have voting power proportional to their token holdings. This ensures that decisions are made collectively, reflecting the consensus of the community.
- Governance Proposals: UFTG holders can propose and discuss changes, upgrades, and new features within the protocol. This encourages active participation and fosters a collaborative environment for community-driven decision-making.
- Protocol Evolution: UFTG holders can actively participate in the governance process, enabling them to become an integral part of the community-driven decision-making process for the UniLend evolution. Their insights, expertise, and contributions will play a vital role in guiding the development of new features and ensuring that the protocol remains at the forefront of innovation.
- Boosting UFT utility: UFTG amplifies the importance of the UFT token by expanding its role beyond lending and borrowing, now also making it a key player in the decision-making process within the governance framework.
- Alignment with DeFi principles: UFTG represents the key ideas of decentralized finance, advocating for decentralization, transparency, and community engagement. This commitment ensures UniLend stays aligned with DeFi values. By being part of UFTG, you actively contribute to UniLend’s expansion and advancement.
“We are thrilled to introduce the UFTG token as a catalyst for community governance,” said Chandresh Aharwar, CEO at UniLend Finance. “UniLend Finance believes in the power of decentralization and giving our community members a direct say in shaping the future of the protocol. The UFTG token will serve as a cornerstone of community-driven decision-making, strengthening the UniLend Finance ecosystem.”
https://twitter.com/UniLend_Finance/status/1696211310986543292?s=20
To celebrate the launch of the UFTG token and encourage community participation, UniLend has planned a series of exciting initiatives, including governance reward programs and exclusive perks for UFTG holders.
UniLend Finance remains committed to fostering an inclusive and collaborative environment where community members can actively contribute and shape the protocol’s future. The launch of the UFTG token marks a significant step towards realizing this vision.
For more information about UniLend and the UFTG token, please visit https://unilend.finance/ or join the UniLend community on social media channels:
Twitter: https://twitter.com/UniLend_Finance
Telegram: https://t.me/UniLendFinance
Medium: https://medium.com/unilend-finance
LinkedIn:https://www.linkedin.com/company/unilend-finance
About UniLend Finance
UniLend Finance is a leading decentralized lending and borrowing protocol for ERC20 tokens, focusing on accessibility, security, and user-centric features. With a strong emphasis on community governance, UniLend aims to redefine the DeFi landscape and make decentralized finance accessible to a wider audience. UniLend aims to develop the futuristic base layer for all DeFi applications.
This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
Report: Well Known Crypto Firms Still Not Adhering to Basic Governance Standards
Many of the most well-known crypto firms are not adhering to basic governance standards, the findings of a Bloomberg survey have shown. Only 31 out of the 60 polled firms “currently procure a full financial audit or reserve attestations from an independent auditor.” Industry participants have said many crypto firms are not audited because the “Big Four” accounting firms are not willing to have them as clients.
Many Crypto Firms Lack Independent Boards
Some of the most influential cryptocurrency firms are not adhering to established corporate governance standards and many others are believed to be operating outside the norm, a Bloomberg study has found. The study also found that out of the 60 crypto industry firms that were polled, about 10 companies did not have a board with at least one non-executive director.
According to the study report, Tether, Huobi and Magic Eden are among those firms without independent company boards. In instances where a board actually exists, the report said these were either advisory in nature or mainly comprised of company executives, hence they cannot pass as independent boards. Binance, the largest cryptocurrency exchange by volume traded, is set to have a formal board in place by the end of the year, the report said.
Although many investors in crypto firms are said to be insisting on increased transparency and accountability following crypto exchange FTX’s collapse, the Bloomberg study found that just over half (31) of the firms “currently procure a full financial audit or reserve attestations from an independent auditor.” On the other hand, the findings showed that the audit status of some 22 out of the 60 companies is unknown. Only seven companies said they were not audited.
Blockchain Technology’s Appeal Said to Be Undermined by Opaqueness of Crypto Firms
Meanwhile, Ruth Foxe Blader, a partner at venture capital firm Anthemis, is quoted in the report lamenting the crypto industry’s opaqueness which contradicts the blockchain technology’s promise of transparency and tamperproof record-keeping.
“It’s an industry of anonymity that’s masquerading as transparency,” Blader reportedly said.
Blader argued that crypto firms should be subjected to the same basic standards — such as audits and independent boards — as other firms, because that is what any investor would expect, particularly for a company operating in the financial services industry.
While the study findings paint a picture of an industry whose participants are unwilling to be audited, some have said the real issue is the so-called Big Four accounting firms’ reluctance to take on crypto firms as clients. This argument is seemingly backed by the France-based accounting group Mazars Group’s decision to stop vouching for reserves held by crypto exchanges. As reported by Bitcoin.com News, Mazars Group ended offering such services in Dec. 2022 after citing concerns about the public’s understanding of such reports.
Meanwhile, the experts quoted in the Bloomberg report have warned that without an extensive regulatory framework in place, the crypto industry participants will not be inclined to do more to appease investors and clients that are said to be demanding greater transparency.
What are your thoughts on this story? Let us know what you think in the comments section below.
Crypto Industry Report: BTC Beats Nasdaq Index and Gold in Q1, Liquid Staking Governance Tokens up by 210%
According to the latest Coingecko crypto industry report, during the first quarter of 2023, bitcoin became the best-performing asset after it saw its U.S. dollar value go up from just under ,000 observed on Dec. 31, 2022, to just over ,000 by March 31, 2023. The report attributes the crypto asset’s resurgence to “increased volatility from the banking crisis” and to Binance’s decision to end part of its zero-fee incentive scheme for bitcoin trades.
Bitcoin Beats Nasdaq Index and Gold
After closing the past year trading below ,000, bitcoin staged a comeback that saw it close the first quarter (Q1) of 2023 trading above ,000. With this performance, bitcoin, which eventually went past the ,000 level, has outperformed major asset classes including the Nasdaq index and gold, data from the latest Coingecko crypto industry report has shown.
As shown in the report, bitcoin’s quarter-on-quarter (QoQ) growth of 72.4% makes it the best-performing asset during the period. The Nasdaq index and gold were the second and third-best performers with gains of 15.7% and 8.4%, respectively.
Although bitcoin and the entire crypto market’s recovery are known to have begun sometime in January, according to the report, the U.S. banking crisis might be the primary reason why interest in this asset class has surged.
“Trading volume saw an upswing in January 2023, when the market started rallying. It then spiked momentarily in early March due to increased volatility from the banking crisis, before tapering off in late March, when Binance removed part of their zero-fee trading incentives for BTC,” the Coingecko report said.
Stablecoins Lose Ground in Q1
With respect to stablecoins, the report said the market capitalization of this asset class had dropped by 4.5% or .5 billion “due to the shutdown of Binance USD (BUSD) by Paxos and the brief USD Coin (USDC) de-pegging event during SVB’s collapse.”
Meanwhile, the Coingecko report also reveals that the market capitalization of decentralized finance (defi) surged by 65.2% to end the quarter at .6 billion. Liquid staking governance tokens saw their value grow by 210.9% in Q1, thus making them “the 3rd largest category in defi.”
During the same period, trading volumes on non-fungible token (NFT) platforms also went up from .1 billion in the last quarter of 2022, to .5 billion. According to the report, a large share of these volumes came from Blur, which recently took Opensea’s place as the most dominant NFT platform.
What are your thoughts on this story? Let us know what you think in the comments section below.