Original investors of Parrot and PRT can expect to recover about a tenth of the value they put in. Newcomers, particularly the activist investors who pressured Parrot’s leaders for a redemption program, could make many multiples, depending on when they bought in. Source BuybackCappingFieryFinanceMondayParrotPRTTokenVote CryptoX Portal
Borroe Finance is a crypto project behind ROE. It aims to transform how small businesses receive funding and expand in web3. The platform empowers businesses to unlock their true potential, scale up, and thrive using artificial intelligence (AI) and blockchain. Struggles of small businesses in web3 Though the web3 revolution has presented opportunities for small businesses, there have been challenges. Many ventures encounter short-term liquidity issues, capping growth. Meanwhile, traditional financing institutions have been slow to grasp the dynamics of the web3 industry, resulting in slow, inefficient, and expensive funding options.…
“The Government has been informed that The Bahamas notified the United States earlier today that The Bahamas did not intend to extradite the defendant on the campaign contributions count,” the DOJ letter said. “Accordingly, in keeping with its treaty obligations to The Bahamas, the Government does not intend to proceed to trial on the campaign contributions count.” Source
Cetif Advisory, a consultancy spinoff of the Università Cattolica del Sacro Cuore of Milan’s Cetif Research Centre, will lead the platform’s development, coordinating the efforts of Polygon Labs, Fireblocks, tech developer Reply, legal and tax consultant Linklaters and web3 studio DVRS. Source
In late 2018, the crowdfunding platform Republic acquired the team behind Game Theory Group and Revsin was brought on to head its new Republic Capital arm, which was distinct from the more consulting and builder-oriented Republic Crypto group. By the time Revsin left in April 2022, Republic Capital had raised more than $600 million, held about $1 billion in assets under management and had invested in more than 80 startups, including Avalanche, Polygon, Blockdaemon and Kraken. Source
These are the kinds of solutions we need if we’re going to reach $1 trillion in annual climate financing, let alone $100 billion. Grand gestures by governments and institutions, while good for headlines, make very little difference on the ground. Web3 stands poised to be the catalyst that unlocks access to retail capital, spawns and scales a new generation of grassroots climate projects, and finally gives at-risk countries a chance to leverage their climate assets. Source
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Parrot Finance is facing a redemption vote two years after raising over $80 million in a public token sale during Solana’s heyday. The proposed redemption program seeks to end Parrot’s governance token, PRT, with more than $80 million from its treasury set to be distributed among holders at $0.0045 per token. The price would drastically devalue the investment of early backers, causing them to recoup just one-tenth of their initial investment of $0.04 per token. Critics…
Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. The past week in DeFi saw new advancements in zero-knowledge proofs (ZK-proofs) as a scaling solution as more DeFi protocols embraced the technology. A new United States Senate DeFi bill attracted a lot of scrutiny — though not necessarily of the positive kind — as many stakeholders came out to slam the “unworkable” legislation. The CEO of the dydx Foundation made a…
Each Omnipool allocates liquidity of a single asset into different Curve pools. All Curve liquidity provider (LP) tokens get staked on Convex to boost Curve (CRV) rewards earnings. Convex (CNX), another Curve ecosystem token, is also rewarded, as is Conic (CNC), Conic’s native token. Source
Conic Finance, a liquidity pool balancing platform for the decentralized finance (DeFi) protocol Curve, has suffered an exploit on the Ethereum omnipool. Conic Finance has been exploited for $3.26 million in Ether (ETH), the Web3 risk-alert source Beosin Alert reported on July 21. Nearly the entire amount of stolen cryptocurrency was sent to a new Ethereum address in just one transaction, according to data provided by Beosin. Transactions on the address involving a flashloan exploit on Coin ETH Pool. Source: Etherscan Conic Finance was quick to confirm the news on…