LAUNCHED LESS THAN 24 HRS AGO, UNDER 500K MCAP
Welcome to Grill.Farm on #BSC!
The fingerlicious Chicken $GRILL is here to both satisfy your cravings for a community-centered, trusted and fair token, as well as rile up your appetite for some succulent and decadent chicken meat 🍗
📈 Charts:
1️⃣ https://poocoin.app/tokens/0x7853401a1095dd0b04edb92366233c37fb511e89
2️⃣ https://www.dextools.io/app/pancakeswap/pair-explorer/0xac7ffc46af6503fe0ce490eb7fa14733673bbfb2
✅ Contract: https://bscscan.com/address/0x7853401a1095dd0b04edb92366233c37fb511e89
🔒 Liquidity LOCKED
🗺 Check our roadmap:
https://grilled-chicken-token.medium.com/what-is-grilled-chicken-token-addf2a07aba2
🔗 Links:
Website: http://grill.farm/
Telegram: https://t.me/Grill_Farm
Announcements: https://t.me/GrillFarm
Discord: SOON
Twitter: https://twitter.com/Grill_Farm
Instagram: https://instagram.com/Grill_Farm
Welcome to Grill.Farm on #BSC!
The fingerlicious Chicken $GRILL is here to both satisfy your cravings for a community-centered, trusted and fair token, as well as rile up your appetite for some succulent and decadent chicken meat 🍗
📈 Charts:
1️⃣ https://poocoin.app/tokens/0x7853401a1095dd0b04edb92366233c37fb511e89
2️⃣ https://www.dextools.io/app/pancakeswap/pair-explorer/0xac7ffc46af6503fe0ce490eb7fa14733673bbfb2
✅ Contract: https://bscscan.com/address/0x7853401a1095dd0b04edb92366233c37fb511e89
🔒 Liquidity LOCKED
🗺 Check our roadmap:
https://grilled-chicken-token.medium.com/what-is-grilled-chicken-token-addf2a07aba2
🔗 Links:
Website: http://grill.farm/
Telegram: https://t.me/Grill_Farm
Announcements: https://t.me/GrillFarm
Discord: SOON
Twitter: https://twitter.com/Grill_Farm
Instagram: https://instagram.com/Grill_Farm
'Crypto regulatory crackdown is starting' but it’ll be OK, says Avanti CEO.
Caitlin Long has stated she is optimistic about the crypto regulations that are taking shape in the United States as the focus is on taxation and compliance.
'Crypto regulatory crackdown is starting' but it’ll be OK, says Avanti CEO.
The founder and CEO of Avanti Financial, Caitlin Long says the “U.S. crypto regulatory crackdown” has begun, but emphasized it’s not a “Bitcoin ban.”
She said she was optimistic that the forthcoming regulations would simply bring crypto laws into line with standard financial rules around taxes and compliance.
There has been a renewed focus on regulations in recent weeks, with the brutal crypto market crash leaving left Washington fumbling for a response.
Avanti's CEO provided a chronology of nine news stories, public statements and announcements covering the IRS, the Office of the Comptroller of the Currency, FinCen, and the Secretary of the Treasury, among others, from May 5 to May 21, concluding the new regulations comprise a "compliance crackdown."
“It may not yet be over, but the pattern is pretty clear: it's a compliance crackdown for sure, but path for ‘responsible innovation’ in US does seem to remain open.”
Long highlighted a May 20 Department of the Treasury report that called for exchanges and custodians to report crypto transactions larger than $10,000.
“Leveraging this information — rather than introducing new requirements for taxpayers — is a proven way to improve compliance,” the report read.
Long also pointed out the Federal Reserve is taking aim at the stablecoin industry as well with the Fed chair Jerome Powell putting out a statement yesterday.
“As stablecoins’ use increases, so must our attention to the appropriate regulatory and oversight framework,” he said. He then remarked:
“This includes paying attention to private-sector payments innovators who are currently not within the traditional regulatory arrangements applied to banks, investment firms, and other financial intermediaries.”
Long characterized this as a “warning shot” saying that its “consistent w/ the theme-comply w/ laws & don't take shortcuts (i.e., get fully regulated as a bank & pay the full regulatory freight).”
In the statement Powell also revealed that the governing body is moving ahead with plans to research how to implement a U.S. central bank currency, or CBDC. The Fed chair noted the “key focus is on whether and how a CBDC could improve on an already safe, effective, dynamic, and efficient U.S. domestic payments system.”
Caitlin Long has stated she is optimistic about the crypto regulations that are taking shape in the United States as the focus is on taxation and compliance.
'Crypto regulatory crackdown is starting' but it’ll be OK, says Avanti CEO.
The founder and CEO of Avanti Financial, Caitlin Long says the “U.S. crypto regulatory crackdown” has begun, but emphasized it’s not a “Bitcoin ban.”
She said she was optimistic that the forthcoming regulations would simply bring crypto laws into line with standard financial rules around taxes and compliance.
There has been a renewed focus on regulations in recent weeks, with the brutal crypto market crash leaving left Washington fumbling for a response.
Avanti's CEO provided a chronology of nine news stories, public statements and announcements covering the IRS, the Office of the Comptroller of the Currency, FinCen, and the Secretary of the Treasury, among others, from May 5 to May 21, concluding the new regulations comprise a "compliance crackdown."
“It may not yet be over, but the pattern is pretty clear: it's a compliance crackdown for sure, but path for ‘responsible innovation’ in US does seem to remain open.”
Long highlighted a May 20 Department of the Treasury report that called for exchanges and custodians to report crypto transactions larger than $10,000.
“Leveraging this information — rather than introducing new requirements for taxpayers — is a proven way to improve compliance,” the report read.
Long also pointed out the Federal Reserve is taking aim at the stablecoin industry as well with the Fed chair Jerome Powell putting out a statement yesterday.
“As stablecoins’ use increases, so must our attention to the appropriate regulatory and oversight framework,” he said. He then remarked:
“This includes paying attention to private-sector payments innovators who are currently not within the traditional regulatory arrangements applied to banks, investment firms, and other financial intermediaries.”
Long characterized this as a “warning shot” saying that its “consistent w/ the theme-comply w/ laws & don't take shortcuts (i.e., get fully regulated as a bank & pay the full regulatory freight).”
In the statement Powell also revealed that the governing body is moving ahead with plans to research how to implement a U.S. central bank currency, or CBDC. The Fed chair noted the “key focus is on whether and how a CBDC could improve on an already safe, effective, dynamic, and efficient U.S. domestic payments system.”
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Domino's Pizza franchises in the Netherlands will offer workers Bitcoin salary.
Any employee who earns more than minimum wage will have the option for the excess salary to be paid in crypto.
Domino's Pizza franchises in the Netherlands will offer workers Bitcoin salary.
A franchisee of many Domino’s Pizza locations in the Netherlands announced today that its workers would have the choice of being paid in Bitcoin.
According to Immensus Holding, the franchisee behind 16 Domino's Pizza locations out of the more than 270 in the Netherlands, its employees will be able to choose between being paid in euros or Bitcoin (BTC) for all salary above the country’s minimum wage. BTC Direct, a Netherlands-based crypto firm with a fiat-to-crypto onramp, will handle the payments for any of the company’s more than 1000 employees who choose to participate.
"We are a modern company, and we work with a lot of young employees,” said Immensus co-owner Jonathan Gurevich. “We hear them talking about Bitcoin and we want to offer the opportunity to own cryptocurrency.”
Dutch law requires that companies pay minimum wage for employees in euros. The minimum monthly wage in the country depends on age and hours worked, but generally workers aged 15-18 could expect to earn more working at the pizza chain than required by local law, meaning they could potentially pocket a little Bitcoin monthly.
Immensus’ announcement it would offer BTC payments coincides with the 11th anniversary of the first successfully documented commercial transaction of cryptocurrency for two Papa John’s pizzas, an event now known as Bitcoin Pizza Day. However, it also comes the same week the price of Bitcoin and many cryptocurrencies experienced double digit percentage drops, with BTC almost dipping under $30,000.
"A monthly Bitcoin salary can be compared to dollar cost averaging into Bitcoin," said BTC Direct's Jerrymie Marcus. "So all the benefits are the same, you don't have to time the market, and in the long run you cancel out short and mid term volatility. This actually benefits the employee, they save value automatically in an ever-increasing asset."
In 2010, Laszlo Hanyecz’s purchase of those pizzas cost him 10,000 BTC — worth hundreds of millions of dollars now. However, even some Bitcoin bulls and pizza lovers are seemingly hesitant to use BTC as a medium of exchange.
On Tuesday, Anthony ‘Pomp’ Pompliano, known for his educational podcasts on crypto, announced he was launching a pizza company aimed at supporting small business and the Human Rights Foundation's Bitcoin Development Fund. However, customers at the Bitcoin Pizza venture can only use crypto cards for payment. Pomp later explained his reasons for not accepting BTC:
"We don't want people giving up their Bitcoin for pizza, but rather we are working to raise money in the form of depreciating fiat dollars to help fund Bitcoin development.”
Any employee who earns more than minimum wage will have the option for the excess salary to be paid in crypto.
Domino's Pizza franchises in the Netherlands will offer workers Bitcoin salary.
A franchisee of many Domino’s Pizza locations in the Netherlands announced today that its workers would have the choice of being paid in Bitcoin.
According to Immensus Holding, the franchisee behind 16 Domino's Pizza locations out of the more than 270 in the Netherlands, its employees will be able to choose between being paid in euros or Bitcoin (BTC) for all salary above the country’s minimum wage. BTC Direct, a Netherlands-based crypto firm with a fiat-to-crypto onramp, will handle the payments for any of the company’s more than 1000 employees who choose to participate.
"We are a modern company, and we work with a lot of young employees,” said Immensus co-owner Jonathan Gurevich. “We hear them talking about Bitcoin and we want to offer the opportunity to own cryptocurrency.”
Dutch law requires that companies pay minimum wage for employees in euros. The minimum monthly wage in the country depends on age and hours worked, but generally workers aged 15-18 could expect to earn more working at the pizza chain than required by local law, meaning they could potentially pocket a little Bitcoin monthly.
Immensus’ announcement it would offer BTC payments coincides with the 11th anniversary of the first successfully documented commercial transaction of cryptocurrency for two Papa John’s pizzas, an event now known as Bitcoin Pizza Day. However, it also comes the same week the price of Bitcoin and many cryptocurrencies experienced double digit percentage drops, with BTC almost dipping under $30,000.
"A monthly Bitcoin salary can be compared to dollar cost averaging into Bitcoin," said BTC Direct's Jerrymie Marcus. "So all the benefits are the same, you don't have to time the market, and in the long run you cancel out short and mid term volatility. This actually benefits the employee, they save value automatically in an ever-increasing asset."
In 2010, Laszlo Hanyecz’s purchase of those pizzas cost him 10,000 BTC — worth hundreds of millions of dollars now. However, even some Bitcoin bulls and pizza lovers are seemingly hesitant to use BTC as a medium of exchange.
On Tuesday, Anthony ‘Pomp’ Pompliano, known for his educational podcasts on crypto, announced he was launching a pizza company aimed at supporting small business and the Human Rights Foundation's Bitcoin Development Fund. However, customers at the Bitcoin Pizza venture can only use crypto cards for payment. Pomp later explained his reasons for not accepting BTC:
"We don't want people giving up their Bitcoin for pizza, but rather we are working to raise money in the form of depreciating fiat dollars to help fund Bitcoin development.”
Vitalik argues that proof-of-stake is a 'solution' to Ethereum’s environmental woes.
The stakes are high for the chain to transition, as those that don't risk getting 'left behind.'
At a conference yesterday, Ethereum co-founder and unofficial figurehead Vitalik Buterin argued that Ethereum’s upcoming transition to a proof-of-stake consensus mechanism is a “solution” to the blockchain’s rampant energy consumption that has been incensing critics as of late.
In an interview at the StartmeupHK virtual conference hosted from Hong Kong, Buterin said that while proof of stake is “still in its infancy and less battle-tested” than Ethereum’s current proof-of-work model, it can ultimately reduce the chain’s energy consumption by upwards of 10,000x.
The comments come amid a period of rampant criticism of blockchain technology for its ecological impact — including from some erstwhile supporters. Tesla founder Elon Musk recently undertook an about-face in regards to the car company accepting Bitcoin payments, saying that he could not encourage the use of fossil fuels via Bitcoin mining. In other threads, he also called for Dogecoin to increase its efficiency across several key metrics.
Buterin directly responded to these comments about scalability in a blog post on his website, laying out the problems with trying to scale by simply tweaking the parameters around blocksize.
Earlier in the month, Buterin also argued that Bitcoin’s continued use of proof-of-work means that the chain, which is currently the world’s largest, will eventually get “left behind” as users increasingly demand more energy-efficient and environmentally friendly options — a phenomenon he says makes it “possible” that Ethereum eventually eclipses Bitcoin and the largest digital asset.
Ultimately, Buterin seems to agree with critics regarding the need for blockchains to adopt newer, more efficient models — especially as the chain grows in volume and becomes a widely relied-upon computational network.
"This thing we’re building isn’t just a game anymore. It’s a significant part of a new era.”
The stakes are high for the chain to transition, as those that don't risk getting 'left behind.'
At a conference yesterday, Ethereum co-founder and unofficial figurehead Vitalik Buterin argued that Ethereum’s upcoming transition to a proof-of-stake consensus mechanism is a “solution” to the blockchain’s rampant energy consumption that has been incensing critics as of late.
In an interview at the StartmeupHK virtual conference hosted from Hong Kong, Buterin said that while proof of stake is “still in its infancy and less battle-tested” than Ethereum’s current proof-of-work model, it can ultimately reduce the chain’s energy consumption by upwards of 10,000x.
The comments come amid a period of rampant criticism of blockchain technology for its ecological impact — including from some erstwhile supporters. Tesla founder Elon Musk recently undertook an about-face in regards to the car company accepting Bitcoin payments, saying that he could not encourage the use of fossil fuels via Bitcoin mining. In other threads, he also called for Dogecoin to increase its efficiency across several key metrics.
Buterin directly responded to these comments about scalability in a blog post on his website, laying out the problems with trying to scale by simply tweaking the parameters around blocksize.
Earlier in the month, Buterin also argued that Bitcoin’s continued use of proof-of-work means that the chain, which is currently the world’s largest, will eventually get “left behind” as users increasingly demand more energy-efficient and environmentally friendly options — a phenomenon he says makes it “possible” that Ethereum eventually eclipses Bitcoin and the largest digital asset.
Ultimately, Buterin seems to agree with critics regarding the need for blockchains to adopt newer, more efficient models — especially as the chain grows in volume and becomes a widely relied-upon computational network.
"This thing we’re building isn’t just a game anymore. It’s a significant part of a new era.”
Bitcoin 2021 Miami continues with Tony Hawk, Kevin O’Leary and more.
Saturday’s programming will also feature Bobby Lee, the former CEO of China’s first cryptocurrency exchange.
Bitcoin 2021 Miami continues following Friday's massive opening of the historic event.
The events kick off at 9:00 am Eastern Time (1:00 pm UTC) with opening remarks by a Miami-Dade County commissioner. Cointelegraph will continue posting Bitcoin 2021 updates on Twitter as well as the YouTube channel.
One of the key speakers for day two will be Tony Hawk, an American skateboarding icon and entrepreneur. Hawk made a major move into the cryptocurrency industry earlier this year, releasing an NFT drop via Ethernity Chain in March featuring a tokenized video of his final 540-degree ollie.
The famous skateboarder will deliver a speech on “When A Counterculture Goes Mainstream” at the Nakamoto Stage at 9:45 am ET (1:45 am UTC). Hawk will also have a meet-and-greet session offering attendees the chance to get a limited-edition skateboard deck signed by the legend.
Hawk’s speech will be followed by a panel discussion devoted to cryptocurrency mining — one of the hottest topics in the crypto community. Shark Tank investor Kevin O’Leary will discuss crypto mining by public companies with Marathon CEO Fred Thiel, Riot Blockchain CEO Jason Les, and Frank Holmes, executive chairman of Hive Blockchain Technologies.
Saturday's event will also feature Bobby Lee, the former CEO of China’s first cryptocurrency exchange, BTCC, which was founded back in 2011. Currently the CEO of cryptocurrency hardware wallet Ballet, Lee will participate in the “Onboarding One Billion Bitcoiners” panel at the main stage at 11:40 am ET (3:40 pm UTC). He will later give a speech on the “Freedom of HODLing” on the End of Fiat Stage at 3:00 pm ET (7:00 pm UTC).
Lightning Labs co-founder and CEO Elizabeth Stark will continue the event with a panel discussion titled “Bitcoin For Billions, Not Billionaires” alongside strategic investor Lyn Alden. Other notable Bitcoin 2021 day-two speakers include Bitcoin programmer Jimmy Song, Galaxy Digital CEO Michael Novogratz, Paxos co-founder and CEO Charles Cascarilla, OKCoin CEO Hong Fang, and Google product director Steve Lee.
The last Nakamoto Stage panel called “Evolution Of Exchanges” will start at 3:35 pm ET (7:35 pm UTC) and will feature Avanti CEO Caitlin Long, Alameda Research founder Sam Bankman-Fried, Huobi Global vice president Ciara Sun, and ShapeShift CEO Erik Voorhees.
Saturday’s programming will also feature Bobby Lee, the former CEO of China’s first cryptocurrency exchange.
Bitcoin 2021 Miami continues following Friday's massive opening of the historic event.
The events kick off at 9:00 am Eastern Time (1:00 pm UTC) with opening remarks by a Miami-Dade County commissioner. Cointelegraph will continue posting Bitcoin 2021 updates on Twitter as well as the YouTube channel.
One of the key speakers for day two will be Tony Hawk, an American skateboarding icon and entrepreneur. Hawk made a major move into the cryptocurrency industry earlier this year, releasing an NFT drop via Ethernity Chain in March featuring a tokenized video of his final 540-degree ollie.
The famous skateboarder will deliver a speech on “When A Counterculture Goes Mainstream” at the Nakamoto Stage at 9:45 am ET (1:45 am UTC). Hawk will also have a meet-and-greet session offering attendees the chance to get a limited-edition skateboard deck signed by the legend.
Hawk’s speech will be followed by a panel discussion devoted to cryptocurrency mining — one of the hottest topics in the crypto community. Shark Tank investor Kevin O’Leary will discuss crypto mining by public companies with Marathon CEO Fred Thiel, Riot Blockchain CEO Jason Les, and Frank Holmes, executive chairman of Hive Blockchain Technologies.
Saturday's event will also feature Bobby Lee, the former CEO of China’s first cryptocurrency exchange, BTCC, which was founded back in 2011. Currently the CEO of cryptocurrency hardware wallet Ballet, Lee will participate in the “Onboarding One Billion Bitcoiners” panel at the main stage at 11:40 am ET (3:40 pm UTC). He will later give a speech on the “Freedom of HODLing” on the End of Fiat Stage at 3:00 pm ET (7:00 pm UTC).
Lightning Labs co-founder and CEO Elizabeth Stark will continue the event with a panel discussion titled “Bitcoin For Billions, Not Billionaires” alongside strategic investor Lyn Alden. Other notable Bitcoin 2021 day-two speakers include Bitcoin programmer Jimmy Song, Galaxy Digital CEO Michael Novogratz, Paxos co-founder and CEO Charles Cascarilla, OKCoin CEO Hong Fang, and Google product director Steve Lee.
The last Nakamoto Stage panel called “Evolution Of Exchanges” will start at 3:35 pm ET (7:35 pm UTC) and will feature Avanti CEO Caitlin Long, Alameda Research founder Sam Bankman-Fried, Huobi Global vice president Ciara Sun, and ShapeShift CEO Erik Voorhees.
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Follow several steps to join:
- Sign up to Currency.com
- Verify your account
- Trade with leverage
- Reach the highest P&L
- Become one of the TOP-3 participants and get your award
Traders with the highest P&L for leveraged-operations will become winners. The three leading traders will get:
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Pantera Capital and Arrington XRP Capital lead $5.8M Unbound Finance raise.
Unbound Capital aims to become the first decentralized cross-chain stablecoin. The private investment round had participation from at least 14 venture funds and over a dozen angel investors from across the blockchain industry.
Cryptocurrency asset managers Pantera Capital and Arrington XRP Capital have co-led a $5.8 million private investment round for Unbound Finance, an up-and-coming DeFi treasury protocol for pooled tokens.
The funds will be used to further develop Unbound Finance’s cross-chain stablecoin platform, including the development of native bridges for instant transfers between its native UNB stablecoin and other synthetic assets, the company announced Wednesday.
Unbound Finance operates a so-called “liquidation-free collateralization platform,” which, as the name suggests, allows users to obtain interest-free loans against collateralized tokens.
Automated market makers are “DeFi's Zero to One Innovation and we are building the aggregator layer to enable greater yields and capital efficiency for our users,” said Tarun Jaswani, CEO and Founder of Unbound Finance.
There are some serious backers behind Unbound Finance’s $5.8 million raise. In addition to Pantera Capital and Michael Arrington’s XRP Capital, the project received direct funding from Hashed, Coin98 Ventures, LedgerPrime, CMS Holdings and many others. Over a dozen angel investors also participated in the raise, including the founders of Angelist, Enjin, Gnosis, Kyber Network, Polygon, Harmony, Polkastarter and others.
Pantera CEO Dan Morehead commented on the impact Unbound Finance could have on the budding DeFi industry:
“Unbound has great potential to play a lead role in the DeFi space by focusing on liquidity pool tokens. We’re excited to support the Unbound team as they build the key tools to capitalize upon this untouched part of the DeFi ecosystem.”
A punishing reversal for digital asset markets over the past six weeks hasn’t prevented venture firms from backing promising projects, especially in the DeFi space. As Cointelegraph reported, crypto- and blockchain-based companies are seeking massive valuations following several highly successful private funding rounds.
Meanwhile, the blockchain development arm behind Solana announced Tuesday that it had raised another $314.15 million from mega investors including Andreessen Horowitz and Polychain Capital.
Unbound Capital aims to become the first decentralized cross-chain stablecoin. The private investment round had participation from at least 14 venture funds and over a dozen angel investors from across the blockchain industry.
Cryptocurrency asset managers Pantera Capital and Arrington XRP Capital have co-led a $5.8 million private investment round for Unbound Finance, an up-and-coming DeFi treasury protocol for pooled tokens.
The funds will be used to further develop Unbound Finance’s cross-chain stablecoin platform, including the development of native bridges for instant transfers between its native UNB stablecoin and other synthetic assets, the company announced Wednesday.
Unbound Finance operates a so-called “liquidation-free collateralization platform,” which, as the name suggests, allows users to obtain interest-free loans against collateralized tokens.
Automated market makers are “DeFi's Zero to One Innovation and we are building the aggregator layer to enable greater yields and capital efficiency for our users,” said Tarun Jaswani, CEO and Founder of Unbound Finance.
There are some serious backers behind Unbound Finance’s $5.8 million raise. In addition to Pantera Capital and Michael Arrington’s XRP Capital, the project received direct funding from Hashed, Coin98 Ventures, LedgerPrime, CMS Holdings and many others. Over a dozen angel investors also participated in the raise, including the founders of Angelist, Enjin, Gnosis, Kyber Network, Polygon, Harmony, Polkastarter and others.
Pantera CEO Dan Morehead commented on the impact Unbound Finance could have on the budding DeFi industry:
“Unbound has great potential to play a lead role in the DeFi space by focusing on liquidity pool tokens. We’re excited to support the Unbound team as they build the key tools to capitalize upon this untouched part of the DeFi ecosystem.”
A punishing reversal for digital asset markets over the past six weeks hasn’t prevented venture firms from backing promising projects, especially in the DeFi space. As Cointelegraph reported, crypto- and blockchain-based companies are seeking massive valuations following several highly successful private funding rounds.
Meanwhile, the blockchain development arm behind Solana announced Tuesday that it had raised another $314.15 million from mega investors including Andreessen Horowitz and Polychain Capital.
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Swene upcoming products:
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LGE: https://event.swene.io
Website: https://swene.io
Blog: https://blog.swene.io
Announcements: https://t.me/sweneapp
Telegram: https://t.me/swenetalks
Be among the first Swene liquidity providers to get the liquidity pool tokens at the best price and lock your liquidity forever to get the best yield!💎
🚀 PARTICIPATE NOW 🚀
The Step 1 ends on the 16/06/2021 or until the marketcap reaches $100K.
🚨What is a Liquidity Generation Event & how it works:
The Liquidity Generation Event (LGE) is designed to provide liquidity to our tokens: Swene (SWN) and Stable (STABLE) on the 2 largest AMMs: PancakeSwap V3 & Uniswap V3.
🔖Read the full Medium article
with the explanation of the Liquidity Generation Event.
💥Join our Telegram community!
Swene upcoming products:
SweneSwap - A crosschain AMM.
SweneYield - A yield aggregator.
SweneApp - An all-in-one fintech app.
STABLE - A stable coin pegged to the top five FIAT currencies.
🔗 Links:
LGE: https://event.swene.io
Website: https://swene.io
Blog: https://blog.swene.io
Announcements: https://t.me/sweneapp
Telegram: https://t.me/swenetalks
An NFT of the photo that inspired Dogecoin just sold for $4M.
That picture of a dog staring into the camera in formal posture.. you know, the one that sparked the Doge meme? Someone just sold it for millions in Ether.
Dogecoin has seen significant attention in 2021 in tandem with its dramatic price rise. Capitalizing on this rise in attention, someone sold a non-fungible token (NFT) of the picture on which the Dogecoin (DOGE) cryptocurrency was based.
“The original image that started it all,” read the description of the NFT, sold on veryauction. “This photo of the Shiba Inu ‘Kabosu’ was taken by her owner Atsuko Sato on February 13th, 2010,” the description explains, adding:
“After sharing it to her personal blog alongside the series of other famous images under the title ‘Taking a walk with Kabosu-chan,’ these photos went on to kickstart the Doge meme and have circulated the web ever since — none more iconic than this picture.”
The NFT was minted by a user named kabosumama on May 31, according to the auction site. The first bid landed on June 8 from a user willing to pay 6.5 Ethereum (ETH) for the piece. Bidding escalated from there. The winning bid of 1,696.90 ETH — over $4M at time of publication — was wagered on June 11.
Topping above $0.70 per coin, Dogecoin’s price has risen substantially in 2021. The asset, however, has fallen notably since then, in line with the rest of the crypto market recently, trading at roughly $0.31 as of time of publication.
Elon Musk, the self-proclaimed CEO of Dogecoin, has posted a number of Dogecoin-related tweets in recent months. Jackson Palmer and Billy Markus created the asset in 2013 as a meme-based crypto parody.
That picture of a dog staring into the camera in formal posture.. you know, the one that sparked the Doge meme? Someone just sold it for millions in Ether.
Dogecoin has seen significant attention in 2021 in tandem with its dramatic price rise. Capitalizing on this rise in attention, someone sold a non-fungible token (NFT) of the picture on which the Dogecoin (DOGE) cryptocurrency was based.
“The original image that started it all,” read the description of the NFT, sold on veryauction. “This photo of the Shiba Inu ‘Kabosu’ was taken by her owner Atsuko Sato on February 13th, 2010,” the description explains, adding:
“After sharing it to her personal blog alongside the series of other famous images under the title ‘Taking a walk with Kabosu-chan,’ these photos went on to kickstart the Doge meme and have circulated the web ever since — none more iconic than this picture.”
The NFT was minted by a user named kabosumama on May 31, according to the auction site. The first bid landed on June 8 from a user willing to pay 6.5 Ethereum (ETH) for the piece. Bidding escalated from there. The winning bid of 1,696.90 ETH — over $4M at time of publication — was wagered on June 11.
Topping above $0.70 per coin, Dogecoin’s price has risen substantially in 2021. The asset, however, has fallen notably since then, in line with the rest of the crypto market recently, trading at roughly $0.31 as of time of publication.
Elon Musk, the self-proclaimed CEO of Dogecoin, has posted a number of Dogecoin-related tweets in recent months. Jackson Palmer and Billy Markus created the asset in 2013 as a meme-based crypto parody.
🤑 Currency.com has listed 19 new tokens
Regulated Crypto Exchange Currency.com added 19 new tokens to the listing, including 2 USD and DAI stablecoins, as well as 17 popular DeFi tokens and ICO projects: OMG, BAT, ZRX, MATIC, SUSHI, KNC, WBTC, Augur, AAVE, SNX, YFI, UMA, REN, OCEAN, BAND, BNT, ANT.
💲The tokens are available in the “Trading " mode with USD.cx and USDT.
In total, more than 2000 tokenized assets are presented on the crypto exchange for buying, selling and trading with leverage up to 100x, including:
🔸 Topical cryptocurrencies and tokens.
🔸 Tokenized shares
🔸 Tokenized ETF.
🔸 Tokenized bonds.
🔸 Tokenized currencies.
🔸 Tokenized commodities.
🔸 Tokenized stock indices.
Register and trade in popular tokens on Currency.com!
Regulated Crypto Exchange Currency.com added 19 new tokens to the listing, including 2 USD and DAI stablecoins, as well as 17 popular DeFi tokens and ICO projects: OMG, BAT, ZRX, MATIC, SUSHI, KNC, WBTC, Augur, AAVE, SNX, YFI, UMA, REN, OCEAN, BAND, BNT, ANT.
💲The tokens are available in the “Trading " mode with USD.cx and USDT.
In total, more than 2000 tokenized assets are presented on the crypto exchange for buying, selling and trading with leverage up to 100x, including:
🔸 Topical cryptocurrencies and tokens.
🔸 Tokenized shares
🔸 Tokenized ETF.
🔸 Tokenized bonds.
🔸 Tokenized currencies.
🔸 Tokenized commodities.
🔸 Tokenized stock indices.
Register and trade in popular tokens on Currency.com!
El Salvador minister says it's too early to use Bitcoin for wages.
It’s too soon to talk about Bitcoin-based wages in El Salvador, Minister Rolando Castro stated.
El Salvador's Minister of Labor and Social Welfare has said that the country is not yet ready to adopt Bitcoin (BTC) for salary payments.
In a Wednesday tweet, Rolando Castro denied local reports which claimed that his ministry had begun analyzing the possibility of Bitcoin-based salaries with officials from the Ministry of Finance and the Ministry of Economy on Monday.
Castro stressed that he was just answering a question, stating that it was “too premature to talk about wages.” The official added that he is now focused on finding more and better jobs for El Salvadoreans. “Monetary issues fall under the economic cabinet, and I’m not part of it,” he noted.
The minister's remarks came a week after El Salvador passed President Nayib Bukele's bill making Bitcoin legal tender in the country. Crypto influencers have since flocked to the small Central American nation to meet with Bukele.
As previously reported, El Salvador's 2001 Law of Monetary Integration, which provided a legal basis for replacing the Salvadorean colón with the United States dollar, stipulates that salaries and fees may only be paid in colones or dollars. It’s still unclear whether the approval of Bitcoin as legal tender in El Salvador would expand upon existing law or replace it. President Nayib Bukele's draft of the law states that “tax contributions can be paid in Bitcoin” and “for accounting purposes, the USD will be used as the reference currency.”
It’s too soon to talk about Bitcoin-based wages in El Salvador, Minister Rolando Castro stated.
El Salvador's Minister of Labor and Social Welfare has said that the country is not yet ready to adopt Bitcoin (BTC) for salary payments.
In a Wednesday tweet, Rolando Castro denied local reports which claimed that his ministry had begun analyzing the possibility of Bitcoin-based salaries with officials from the Ministry of Finance and the Ministry of Economy on Monday.
Castro stressed that he was just answering a question, stating that it was “too premature to talk about wages.” The official added that he is now focused on finding more and better jobs for El Salvadoreans. “Monetary issues fall under the economic cabinet, and I’m not part of it,” he noted.
The minister's remarks came a week after El Salvador passed President Nayib Bukele's bill making Bitcoin legal tender in the country. Crypto influencers have since flocked to the small Central American nation to meet with Bukele.
As previously reported, El Salvador's 2001 Law of Monetary Integration, which provided a legal basis for replacing the Salvadorean colón with the United States dollar, stipulates that salaries and fees may only be paid in colones or dollars. It’s still unclear whether the approval of Bitcoin as legal tender in El Salvador would expand upon existing law or replace it. President Nayib Bukele's draft of the law states that “tax contributions can be paid in Bitcoin” and “for accounting purposes, the USD will be used as the reference currency.”
Cointelegraph launches celebrity NFT charity campaign with Binance.
Cointelegraph artists will create digital portraits of celebrities for a Rotary Foundation charity auction hosted on Binance’s newly launched NFT platform.
Cointelegraph is delighted to announce a nonfungible token charity auction in partnership with the Rotary Foundation and the Binance cryptocurrency exchange.
Binance will feature the celebrity-themed charity campaign on its newly launched NFT marketplace, aiming to generate donations supporting financial education for children and training for physicians coping with COVID-19 emergencies.
The charity auction will include an NFT series curated and designed by Cointelegraph and its outstanding art team, with the participation of global athletes, musicians, entrepreneurs and bloggers. As part of the campaign, Cointelegraph’s team of artists will create digital portraits of celebrities willing to support Rotary’s charity efforts through the NFT industry.
Rotary Club Kyiv will channel funds collected through the auction into two separate grants, including an initiative on improving financial literacy for children and the ”Helper" project, a retraining program to prepare doctors to deal with the COVID-19 pandemic.
The auction marks Rotary’s first time getting involved in the NFT industry to support its charitable activities. Regarding this, Rotary International fundraising officer Oksana Tjupa said:
“The NFT project is new for us, but we hope for success in our joint project. The field of NFT art is very promising. We are confident that digital assets have entered our lives as a separate sector of the economy, and now charitable organizations need to learn to work with new formats to implement their charitable missions.”
Rotary’s ultimate mission is to improve global health, alleviate poverty and support education, including the foundation’s plan to educate 10 million children worldwide for the next 10 years.
Some of the celebrities and notable crypto figures who have already signed up for the NFT charity campaign include Ukrainian soccer manager Andriy Shevchenko, Binance CEO Changpeng Zhao, MicroStrategy CEO Michael Saylor, billionaire investor Mike Novogratz, Yearn.finance founder Andre Cronje, and 1inch Network CEO and co-founder Sergej Kunz.
The campaign builds on Cointelegraph’s previous experiences in the world of NFTs. In late 2020, Cointelegraph auctioned off NFTs inspired by famous works of art. In February, Cointelegraph released an NFT series in conjunction with the “Top 100 Notable People in Blockchain 2021,” its list of the most influential players in the crypto industry. Later that month, Cointelegraph and its art team commemorated Bitcoin hitting $50,000 for the first time with an exclusive NFT on the Rarible platform.
Binance, the world’s largest cryptocurrency exchange, launched its own NFT platform and marketplace on Thursday, allowing users to create and trade unique digital collectibles bought online using blockchain technology.
Cointelegraph artists will create digital portraits of celebrities for a Rotary Foundation charity auction hosted on Binance’s newly launched NFT platform.
Cointelegraph is delighted to announce a nonfungible token charity auction in partnership with the Rotary Foundation and the Binance cryptocurrency exchange.
Binance will feature the celebrity-themed charity campaign on its newly launched NFT marketplace, aiming to generate donations supporting financial education for children and training for physicians coping with COVID-19 emergencies.
The charity auction will include an NFT series curated and designed by Cointelegraph and its outstanding art team, with the participation of global athletes, musicians, entrepreneurs and bloggers. As part of the campaign, Cointelegraph’s team of artists will create digital portraits of celebrities willing to support Rotary’s charity efforts through the NFT industry.
Rotary Club Kyiv will channel funds collected through the auction into two separate grants, including an initiative on improving financial literacy for children and the ”Helper" project, a retraining program to prepare doctors to deal with the COVID-19 pandemic.
The auction marks Rotary’s first time getting involved in the NFT industry to support its charitable activities. Regarding this, Rotary International fundraising officer Oksana Tjupa said:
“The NFT project is new for us, but we hope for success in our joint project. The field of NFT art is very promising. We are confident that digital assets have entered our lives as a separate sector of the economy, and now charitable organizations need to learn to work with new formats to implement their charitable missions.”
Rotary’s ultimate mission is to improve global health, alleviate poverty and support education, including the foundation’s plan to educate 10 million children worldwide for the next 10 years.
Some of the celebrities and notable crypto figures who have already signed up for the NFT charity campaign include Ukrainian soccer manager Andriy Shevchenko, Binance CEO Changpeng Zhao, MicroStrategy CEO Michael Saylor, billionaire investor Mike Novogratz, Yearn.finance founder Andre Cronje, and 1inch Network CEO and co-founder Sergej Kunz.
The campaign builds on Cointelegraph’s previous experiences in the world of NFTs. In late 2020, Cointelegraph auctioned off NFTs inspired by famous works of art. In February, Cointelegraph released an NFT series in conjunction with the “Top 100 Notable People in Blockchain 2021,” its list of the most influential players in the crypto industry. Later that month, Cointelegraph and its art team commemorated Bitcoin hitting $50,000 for the first time with an exclusive NFT on the Rarible platform.
Binance, the world’s largest cryptocurrency exchange, launched its own NFT platform and marketplace on Thursday, allowing users to create and trade unique digital collectibles bought online using blockchain technology.
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Cathie Wood's Ark Invest teams up with 21Shares to file for Bitcoin ETF.
Wood recently asserted the crypto downtrend has improved the chances of a Bitcoin ETF securing regulatory approval.
Ark Investment Management has become the latest firm to file for a Bitcoin exchange-traded fund (ETF).
According to a June 28 filing with the United States Securities and Exchange Commission (SEC) submitted in partnership with European exchange-traded product issuer, 21Shares, the ETF would be listed on the Chicago Board Options Exchange’s (CBOE) BZX Exchange and trade under the ticker ARKB.
The ETF would also track the S&P BTC index, with the trust underpinning the ETF also holding BTC directly. The filing has received praise from the crypto industry
Cathie Wood, the CEO and founder of Ark Invest, also serves as a board member to 21Shares. According to CoinShares, 21Shares is currently the fourth-largest institutional crypto product issuer by assets under management with more than $1 billion.
ETF analyst, Eric Balchunas, told BNN Bloomberg that if approved, the Bitcoin ETF would be of significant benefit to 21Shares, allowing the firm to penetrate the U.S. market.
Ark is a big investor in the crypto space, holding shares in Grayscale’s Bitcoin and Ethereum trusts in addition to Coinbase stock. Cathie Wood is also a major Bitcoin proponent, recently reiterating her prediction that Bitcoin’s price will one day tag $500,000 despite the recent crypto downturn.
Despite the SEC having rejected every application it has received for a Bitcoin ETF so far, Wood recently speculated that the odds of an ETF being approved by the regulator improved after the recent crypto retracement.
Earlier this month, the SEC delayed decisions on two major Bitcoin ETFs, extending the review period for the respective Bitcoin ETFs proposed by VanEck and Valkyrie Digital Assets by 45 days each.
Wood recently asserted the crypto downtrend has improved the chances of a Bitcoin ETF securing regulatory approval.
Ark Investment Management has become the latest firm to file for a Bitcoin exchange-traded fund (ETF).
According to a June 28 filing with the United States Securities and Exchange Commission (SEC) submitted in partnership with European exchange-traded product issuer, 21Shares, the ETF would be listed on the Chicago Board Options Exchange’s (CBOE) BZX Exchange and trade under the ticker ARKB.
The ETF would also track the S&P BTC index, with the trust underpinning the ETF also holding BTC directly. The filing has received praise from the crypto industry
Cathie Wood, the CEO and founder of Ark Invest, also serves as a board member to 21Shares. According to CoinShares, 21Shares is currently the fourth-largest institutional crypto product issuer by assets under management with more than $1 billion.
ETF analyst, Eric Balchunas, told BNN Bloomberg that if approved, the Bitcoin ETF would be of significant benefit to 21Shares, allowing the firm to penetrate the U.S. market.
Ark is a big investor in the crypto space, holding shares in Grayscale’s Bitcoin and Ethereum trusts in addition to Coinbase stock. Cathie Wood is also a major Bitcoin proponent, recently reiterating her prediction that Bitcoin’s price will one day tag $500,000 despite the recent crypto downturn.
Despite the SEC having rejected every application it has received for a Bitcoin ETF so far, Wood recently speculated that the odds of an ETF being approved by the regulator improved after the recent crypto retracement.
Earlier this month, the SEC delayed decisions on two major Bitcoin ETFs, extending the review period for the respective Bitcoin ETFs proposed by VanEck and Valkyrie Digital Assets by 45 days each.
🎙AMA Announcement
Crypto Land will host an AMA Session with Pruf in Crypto Land + Pruf chat.
⏱START 3PM UTC 30.06.2021
Prepare your best questions and be ready to participate in time, see you soon.
Please make sure to follow Telegram group @pruftalk.
🌐Website - https://pruf.io
Crypto Land will host an AMA Session with Pruf in Crypto Land + Pruf chat.
⏱START 3PM UTC 30.06.2021
Prepare your best questions and be ready to participate in time, see you soon.
Please make sure to follow Telegram group @pruftalk.
🌐Website - https://pruf.io
AMM DEX EmiSwap Launches Super Rewarding Farming Following Successful Completion Of Launchpad Sales 🚀
Friends, let us share with you a cool insight from EmiSwap, who today, after successfully completing IDO for $550K, go to UniSwap and enable farming their ESW governance token!
Why pay attention to this 💎?
— 100% gas compensation in the Ethereum network
— Staking and farming ESW with an average yield of 150% APR (more at the start, of course)
— Soon launch of staking and farming on Polygon
— ESW as a governance token gives 0.05% of the profit from the DEX daily trading volume to all holders
— A week later, the unique feature of NFT farming (NFTs increase user profits on DEX) goes live
In general, a fresh DEX, the profitability of which in the early stages promises to be sky-high. Join: https://emiswap.com/
PS. ESW tokens will start trading on UniSwap from July 1 ~ 12:00 UTC
PPS. Don't give thanks for the insight
Friends, let us share with you a cool insight from EmiSwap, who today, after successfully completing IDO for $550K, go to UniSwap and enable farming their ESW governance token!
Why pay attention to this 💎?
— 100% gas compensation in the Ethereum network
— Staking and farming ESW with an average yield of 150% APR (more at the start, of course)
— Soon launch of staking and farming on Polygon
— ESW as a governance token gives 0.05% of the profit from the DEX daily trading volume to all holders
— A week later, the unique feature of NFT farming (NFTs increase user profits on DEX) goes live
In general, a fresh DEX, the profitability of which in the early stages promises to be sky-high. Join: https://emiswap.com/
PS. ESW tokens will start trading on UniSwap from July 1 ~ 12:00 UTC
PPS. Don't give thanks for the insight
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Just-In: Grayscale’s $GDLC Adds Cardano (ADA) With 3rd Largest Allocation
The $GDLC fund often reflects the market demand around crypto assets, while BTC and ETH are constant, other altcoins continue to find a place in the fund based on their market demand. Cardano (ADA) is often dubbed as an Ethereum killer for similar network functionality, it is gearing up to implement the last phase of the Alonzo Smart Contract hard fork.
Cardano holders have staked 43.3 Billion ADA estimated to be worth $31 billion and the staked amount represents 71% of the circulating supply. The Alonzo project is seen as the biggest upgrade for the network as it introduces smart contract capabilities. The upgrade is believed to help Cardano give Ethereum, Solana, and Polkadot tough competition.
The $GDLC fund often reflects the market demand around crypto assets, while BTC and ETH are constant, other altcoins continue to find a place in the fund based on their market demand. Cardano (ADA) is often dubbed as an Ethereum killer for similar network functionality, it is gearing up to implement the last phase of the Alonzo Smart Contract hard fork.
Cardano holders have staked 43.3 Billion ADA estimated to be worth $31 billion and the staked amount represents 71% of the circulating supply. The Alonzo project is seen as the biggest upgrade for the network as it introduces smart contract capabilities. The upgrade is believed to help Cardano give Ethereum, Solana, and Polkadot tough competition.
This Is How DAOs Are Taking A Greater Role in the DeFi and NFT Sectors.
Decentralized autonomous organizations (DAOs) have been operating under the radar for a while now. Amid all the excitement over bull markets, DeFi and NFTs, DAOs have found themselves being neglected, despite the fact that they’re coming to play an increasing role within the crypto ecosystem.
From DeFi protocols such as Uniswap (UNI) and Maker (MKR) to NFT platforms such as YellowHeart and JennyDAO, decentralized autonomous organizations are turning up almost everywhere you look in crypto. And while they haven’t received much attention so far this year, new and emerging DAOs are managing to attract millions in investment, while DAOs themselves are becoming more complex in how they operate and manage themselves.
DAOs meet DeFi and NFTs
Despite the relative neglect, there’s little doubt that DAOs have become fairly central to much of crypto.
“Whilst DAOs may not have received attention as a standalone concept this year, they are built into the fabric of the crypto industry and considered vital in the decision-making process for projects and protocols,” said Philipp Pieper, the co-founder of DeFi platform Swarm Markets.
Pieper noted that DAOs have played a key role in the emergence of NFTs and the growth of DeFi, forming an integral part of other verticals rather than being a separate category.
“Level 1 protocols such as Ethereum (ETH) and Polkadot (DOT), both of which have received considerable attention this year, are practicing DAO organizations live in action,” he added.
Pieper is referring to such platforms as PolkaDAO, a decentralized autonomous organization that was launched by Polkadot in 2019 in order to distribute funding to new Polkadot-based projects. He’s also alluding to the LAO, which is a for-profit Ethereum-based platform launched in 2019, also to distribute funding.
But while these DAOs were launched a couple of years ago, the DAO space continues to grow, particularly in parallel with the expansion of DeFi and NFTs.
“Yes, it has emerged and grown substantially. Top examples are mostly exchange-based such as Uniswap, 1inch (1INCH) and Maker,” said Josh Katz, the founder of NFT marketplace YellowHeart.
Decentralized finance — and in particular decentralized funding — really is the biggest emerging area for the DAOs. Most recently, the Bybit-backed BitDAO raised USD 250m in funding in order to finance the development of its decentralized crypto investment fund.
“DAOs are complicated and often slow moving structures; they weren't the most attractive things in this fast-paced fading bull market,” said Charles Watkins, a member of Curve’s core development team.
Decentralized autonomous organizations (DAOs) have been operating under the radar for a while now. Amid all the excitement over bull markets, DeFi and NFTs, DAOs have found themselves being neglected, despite the fact that they’re coming to play an increasing role within the crypto ecosystem.
From DeFi protocols such as Uniswap (UNI) and Maker (MKR) to NFT platforms such as YellowHeart and JennyDAO, decentralized autonomous organizations are turning up almost everywhere you look in crypto. And while they haven’t received much attention so far this year, new and emerging DAOs are managing to attract millions in investment, while DAOs themselves are becoming more complex in how they operate and manage themselves.
DAOs meet DeFi and NFTs
Despite the relative neglect, there’s little doubt that DAOs have become fairly central to much of crypto.
“Whilst DAOs may not have received attention as a standalone concept this year, they are built into the fabric of the crypto industry and considered vital in the decision-making process for projects and protocols,” said Philipp Pieper, the co-founder of DeFi platform Swarm Markets.
Pieper noted that DAOs have played a key role in the emergence of NFTs and the growth of DeFi, forming an integral part of other verticals rather than being a separate category.
“Level 1 protocols such as Ethereum (ETH) and Polkadot (DOT), both of which have received considerable attention this year, are practicing DAO organizations live in action,” he added.
Pieper is referring to such platforms as PolkaDAO, a decentralized autonomous organization that was launched by Polkadot in 2019 in order to distribute funding to new Polkadot-based projects. He’s also alluding to the LAO, which is a for-profit Ethereum-based platform launched in 2019, also to distribute funding.
But while these DAOs were launched a couple of years ago, the DAO space continues to grow, particularly in parallel with the expansion of DeFi and NFTs.
“Yes, it has emerged and grown substantially. Top examples are mostly exchange-based such as Uniswap, 1inch (1INCH) and Maker,” said Josh Katz, the founder of NFT marketplace YellowHeart.
Decentralized finance — and in particular decentralized funding — really is the biggest emerging area for the DAOs. Most recently, the Bybit-backed BitDAO raised USD 250m in funding in order to finance the development of its decentralized crypto investment fund.
“DAOs are complicated and often slow moving structures; they weren't the most attractive things in this fast-paced fading bull market,” said Charles Watkins, a member of Curve’s core development team.
Australian digital finance industry wants to legally recognize DAOs.
A new legal initiative in Australia wants to allow DAO project governors to contract with other legal entities through DeFi tools.
Specialists and lawyers focused on decentralized finance (DeFi) are launching an initiative to create a new type of legal entity in Australia representing decentralized autonomous organizations (DAOs).
The country's Digital Law Association and global law firm Herbert Smith Freehills are lobbying an Australian Senate committee to formally recognize new decentralized models for corporate governance. These new DAO models would replace the board of directors with an internet community, the Australian Financial Review reported Thursday.
The initiative specifically intends to allow “DAO Limited” project governors to contract with other legal entities through DeFi tools, implementing blockchain technology to remove traditional intermediaries like banks and exchanges. Limited liability status will also prevent Australian members of a DAO from being liable for losses incurred by decisions made by a member of the community.
According to the lawyers, legalizing DAOs in Australia could make the country more attractive for global digital asset businesses, as groups of local DeFi entrepreneurs reportedly shift offshore to jurisdictions like Singapore and Germany.
A DAO is a decentralized organization with certain sets of rules that are encoded as a computer program and are usually based on blockchain technology. The first most important attempt to create a DAO was “The DAO,” a machine-operating venture organization launched in 2016.
The news comes as some cryptocurrency exchanges are shifting to a decentralized structure. Yesterday, ShapeShift crypto exchange announced plans to open-source its platform and dissolve its entire corporate structure in a move to underscore its commitment to DeFi. “Inspired by the broader DeFi community, we’ll now help pioneer a new model of economic coordination for the 21st century. No corporate entity, no banks and no borders. The tools are ready,” ShapeShift founder and CEO Erik Voorhees said.
A new legal initiative in Australia wants to allow DAO project governors to contract with other legal entities through DeFi tools.
Specialists and lawyers focused on decentralized finance (DeFi) are launching an initiative to create a new type of legal entity in Australia representing decentralized autonomous organizations (DAOs).
The country's Digital Law Association and global law firm Herbert Smith Freehills are lobbying an Australian Senate committee to formally recognize new decentralized models for corporate governance. These new DAO models would replace the board of directors with an internet community, the Australian Financial Review reported Thursday.
The initiative specifically intends to allow “DAO Limited” project governors to contract with other legal entities through DeFi tools, implementing blockchain technology to remove traditional intermediaries like banks and exchanges. Limited liability status will also prevent Australian members of a DAO from being liable for losses incurred by decisions made by a member of the community.
According to the lawyers, legalizing DAOs in Australia could make the country more attractive for global digital asset businesses, as groups of local DeFi entrepreneurs reportedly shift offshore to jurisdictions like Singapore and Germany.
A DAO is a decentralized organization with certain sets of rules that are encoded as a computer program and are usually based on blockchain technology. The first most important attempt to create a DAO was “The DAO,” a machine-operating venture organization launched in 2016.
The news comes as some cryptocurrency exchanges are shifting to a decentralized structure. Yesterday, ShapeShift crypto exchange announced plans to open-source its platform and dissolve its entire corporate structure in a move to underscore its commitment to DeFi. “Inspired by the broader DeFi community, we’ll now help pioneer a new model of economic coordination for the 21st century. No corporate entity, no banks and no borders. The tools are ready,” ShapeShift founder and CEO Erik Voorhees said.
