Superdao, a platform founded to help with the development of decentralized autonomous organizations (DAO), said it would shut down operations due to unprofitable returns and would refund investors. The platform raised over $10 million in 2022 and supported more than 2,000 DAO launches. Superdao to Exit Market Superdao CEO Yury Lifshits announced plans to wind...Read More
Remilia Corporation’s Creative Director and Artist, Sprite Bonkler, has announced that Remilia’s co-founders have filed a lawsuit against one of Milady’s founders, Charlotte Fang, and the Delaware Limited Liability Companies (LLCs). Charlotte has been accused of orchestrating a plan to take over Remilia’s functions, resources, and a vast collection of important digital assets. Allegations Against...Read More
Russia is working on ways to legalize and regulate decentralized financial organizations, popularly known as DAOs, to bring more liquidity within the local Digital Financial Assets (DFA) market. The Director of the Department of Financial Policy of the Ministry of Finance, Ivan Chebeskov, made the comments at the Crypto Summit 2023. Russia Legalizing DeFi DAOs...Read More
Crypto tokens worth upwards of $212 million are set to unlock this week. According to the latest data, five projects – Dao Maker (DAO), STEPN (GMT), Internet Computer (ICP), BitMEX (BMEX), Aptos (APT), The Sandbox (SAND), according to data compiled by DropsTab. The token unlocks could potentially create some significant sell pressure. Token Unlocks: Weekly...Read More
Artificial Intelligence (AI) could potentially organize itself using a Decentralised Autonomous Organisation (DAO) structure, according to BitMEX founder Arthur Hayes. Traditional companies cannot operate without certain state-sanctioned entities such as auditors, accountants, lawyers, and bankers that serve as the “cartel of trust.” But with AI slowly taking over, it’s hard to imagine how an economic...Read More
Sony Network Communications (a tech provider under the umbrella of the Sony Group) partnered with Polkadot’s innovation hub – Astar Network – to present a Web3 Incubation Program. Users willing to join can apply until March 6, 2023. Focusing on NFTs and DAOs According to a document seen by CryptoPotato, the program will run from...Read More
Gaming and metaverse DAO giant Merit Circle voted to burn all remaining tokens left in the Community Incentives wallet as a way to reduce the total supply. The project has been carrying out monthly token burns but decided in favor of bulk destruction. A proposal to burn 200 million MC tokens saw an overwhelming number...Read More
The Commodity Futures Trading Commission (CFTC) has filed an enforcement action lawsuit against Ooki DAO, a crypto margin trading and lending platform for engaging in digital asset margin trading that only CFTC-registered Futures Commission Merchants (FCM) can perform. Ooki DAO also failed to adhere to customer identification requirements prescribed under the Bank Secrecy Act, the...Read More
Ethereum co-founder Vitalik Buterin published a lengthy blog post on Monday defending the usefulness of decentralized autonomous organizations (DAOs). He outlined 3 reasons that DAOs have unique advantages compared to traditional corporations, and will not simply be outcompeted and obsoleted by the latter. Making Better Decisions A DAO is an emerging, blockchain-native, bottom-up governance structure...Read More
Lido Finance’s decentralized governance body – Lido DAO – has voted against a proposal to sell 10 million LDO tokens (1% of the supply) for $14.5 million in DAI to venture capital firm Dragonfly Capital. Out of the total of 609 votes, 43 million LDO tokens, accounting for 66.61%, were cast to reject the proposal. The...Read More
Blockchain analytics firm Chainalysis’ latest report reveals that less than 1% of all holders in major DAOs have 90% voting power. It also cited Solend’s attempt to seize a whale’s account to avoid potential insolvency as contradicting the tenets of decentralization on which web3 is built. Moreover, the document shows that as DAOs span a...Read More
In the early 1990s, self-organization was proposed by sociologist Walter Powell. It was considered as a third model of governance that is independent of hierarchy and market. This is where the concept of DAO (Decentralized Autonomous Organization) originated from. Self-organization system can eliminate the inequality in the organization, let the organization members fully express their...Read More
Swingby network, which recently transitioned into a community-owned DAO, is now ready to launch Skypools, its latest project development. On March 29th the Swingby network plans to roll out the next generation – Skypools. The swap-bridge hybrid builds upon the concept and design of the original Skybridge platform, which enables BTC swapping with wrapped BTC,...Read More
The popular Ethereum wallet “MetaMask” is officially launching its own token, as confirmed by Consensys CEO Joseph Lubin. The team will also reportedly launch a decentralized autonomous organization (DAO) for funding the wallet’s growth. MetaMask competes with other self-custodial wallets like MyEtherWallet and Coinbase Wallet for interacting with web 3. Individuals and institutions can use...Read More
Dedicated to restoring Assange’s freedom, AssangeDAO started its fundraising on February 3. Less than a week later, it has concluded its efforts after managing to rake in 17,422 Ether from 10,000 users. Helping Embattled WikiLeaks Founder Julian Assange The newly-formed AssangeDAO’s mission was to raise enough funds to help free Julian Assange. It aimed to...Read More
Switzerland, 4th June 2020. Swiss-based crypto platform Eidoo is upgrading its native utility token into a governance token that will power a new cross-chain DAO. In a collaborative decision by Eidoo and pTokens, the $EDO token will be upgraded into $PNT later this month so that it can be used, staked and earn interest within...Read More
One of the main drawbacks associated with the cryptocurrency market is its highly volatile price activity. The volatility was and still is, considered a major hindrance when it comes to the mass adoption of virtual assets. The introduction of stablecoins was meant to tackle this associated crypto-volatility. However, not all stablecoins operate the same way...Read More
Huobi Wallet has added MakerDAO’s various offerings to its list of supported assets and services. Major cryptocurrency exchange Huobi has added support for MakerDAO tokens and decentralized apps (DApps) in its wallet. Huobi Group shared the announcement with Cointelegraph on Aug. 19. MakerDAO has a stablecoin called Dai, a token named MKR, and applications including...Read More
