The move-to-earn project aims to introduce what it says is a fairer system ahead of a vote to guide the protocol’s spending of 100 million SWEAT tokens. Source
Decentralized App Sweat Economy Introduces 1-Person, 1-Vote Governance System
Day: April 18, 2023
Project aims for fair governance by changing the voting system
Move-to-earn app creator Sweat Economy is set to let its users decide on how to spend almost $1 million worth of tokens earned as fees and revenue through a governance vote with a twist. According to its announcement, the project will allow users to vote on how much of the tokens will be burned and how much will be given as a reward for users who staked their tokens. However, instead of the common mechanism that counts one token as one vote, which favors those holding more tokens, the voting…
Developers Stay Resilient Through Harsh Crypto Winter, Report Says
“It’s certainly not easy to survive a crypto bear market and the longer it goes, the more challenging it can be,” said Shah. “But what we’re noticing is most of the builders who are in the space are here for the technology, and so many people certainly look forward to a return in more top-line metrics like prices, and a lot of new projects being launched and new funding entering the space.” Source
Ethereum layer 2 bridging up sixfold year-on-year in Q1 — Alchemy
Ethereum layer 2s, such as Optimism, Arbitrum and Polygon, increased in popularity in the first quarter of 2023, according to a report from Web3 development platform Alchemy. Ethereum users bridged over $635,000 worth of crypto assets to these networks from January to March, an increase of 44% over the fourth quarter of 2023 and 518% over the first quarter of 2022. The report, titled simply “Web3 Development Report,” cited Dune Analytics as its source for this data. It showed that users only bridged approximately $103,000 worth of assets to layer…
Devs aim for fair governance by changing the voting system
Move-to-earn app creator Sweat Economy is set to let its users decide on how to spend almost $1 million worth of tokens earned as fees and revenue through a governance vote with a twist. According to its announcement, the project will allow users to vote on how much of the tokens will be burned and how much will be given as a reward for users who staked their tokens. However, instead of the common mechanism that counts one token as one vote, which favors those holding more tokens, the voting…
Congressional Republicans Criticize SEC Chair Gary Gensler’s Crypto Approach Ahead of Hearing
“Crypto investors should benefit from compliance with the same laws that Rayburn and Roosevelt laid out to protect against fraud, manipulation, front-running, wash sales, and other misconduct,” Gensler said. “As Justice Thurgood Marshall put it so well, ‘Congress’s purpose in enacting the securities laws was to regulate investments, in whatever form they are made and by whatever name they are called.’” Source
African blockchain ventures outpace global funding growth: Report
The African continent continues to be a fertile ground for the growth and implementation of blockchain technology. In the African Blockchain Report 2022 by Crypto Valley VC, it was stated that blockchain deals in Africa raised a total of $474 million, resulting in a 429% increase in African blockchain venture funding. This growth in funding for African blockchain ventures surpassed the global average, which only saw a 4% increase in blockchain funding. According to the report, African blockchain funding demonstrated a growth rate that was over 12.5 times higher than…
Coinbase Eyes UK and Europe Market amid Heightened US Crypto Regulatory Scrutiny
Coinbase Global shares have gained more than 91 percent YTD to trade around $69.72 on Tuesday amid Bitcoin’s 2023 pump. Coinbase Global Inc (NASDAQ: COIN) was served a Wells notice from the US Securities and Exchange Commission (SEC) for an undefined portion of its listed digital assets, Coinbase Earn, Coinbase Prime, and Coinbase Wallet. With several other top centralized exchanges including Bittrex and Binance under the SEC’s radar, Coinbase Global has begun exploring global options, particularly in the United Kingdom and the European market. Coinbase Explore Operations Outside US According…
A Technologist’s Approach to Explaining What Crypto Fixes
From the moment Satoshi released the Bitcoin white paper, crypto evangelists have touted the immense, revolutionary potential value of the technology. Web3 was positioned as a panacea for the world’s systemic issues, with applications for everything from supply chains to identity to finance. Anything could be fixed once put on-chain. Source
Does SEC Chair Gary Gensler have the final say? – Cointelegraph Magazine
In a February interview with New York Magazine, Gary Gensler, chairman of the United States Securities and Exchange Commission, said that just about every crypto transaction, with the exception of Bitcoin spot transactions and buying or selling things with cryptocurrency, falls within the jurisdiction of the SEC. In the interview, when discussing what types of crypto transactions should be regulated as securities, Gensler didn’t mince words. “Everything other than Bitcoin. You can find a website, you can find a group of entrepreneurs, they might set up their legal entities in…