The network will offer 100,000 native metis (METIS) tokens as a liquidity mining incentive for Aave users on the network that will be distributed over a six-month period. Elsewhere, a token mining reward program will distribute 4,000 METIS to participating protocols commensurate with the percentage of monthly transactions generated. Source AaveCommunityDeployEthereumLayerMetisNetworkPassesProposal CryptoX Portal
On May 2, 2023, the Biden administration unveiled a blog post outlining the Digital Asset Mining Energy (DAME) tax, featured in the president’s comprehensive 182-page budget proposal for the fiscal year 2024. The DAME tax targets “making crypto miners pay for the costs they impose on others” regarding the environmental impact of crypto mining activities. Crypto Miners Could Face Gradually Increasing Tax With Biden’s DAME Proposal With the White House’s Council of Economic Advisors expressing alarm over the so-called climate crisis, Biden’s administration argues that crypto asset mining’s energy consumption…
The French Senate’s Committee on Economic Affairs recently approved an amendment to pending legislation allowing registered cryptocurrency companies to hire social media influencers for advertising and promotional purposes. According to a translation of the amendment provided by Bing, the new wording would allow companies that are registered with France’s Autorité des Marchés Financiers (AMF) to hire influencers for their products: “The current wording is more restrictive than the existing provisions in the Consumer Code, since it excludes the possibility for digital asset service providers (PSAN) registered with the Autorité des…
The deadline has come for comments on a consultation paper and call for evidence released by the United Kingdom’s HM Treasury on a proposed crypto asset regulatory framework. The long-awaited paper, published in February, drew detailed responses from a variety of cryptocurrency industry players. Blockchain provider Polygon Labs, venture capitalists Andreessen Horowitz (a16z), the Association for Financial Markets in Europe (AFME) and the Digital Pound Foundation (DPF) released their responses on May 1 to the call for comments. Among these diverse voices, some common issues were raised. The Treasury’s call for…
PancakeSwap, a leading decentralized exchange (DEX) on the BNB Smart Chain (BSC), has passed the CAKE Tokenomics v2.5 Decision Proposal that makes their native token scarcer. The proposal aimed to transform the tokenomics model of CAKE, the DEX’s utility token. The primary focus being on low staking inflation where real yield is from the protocol’s revenues. It also looked at adjusting its product to favor longer-term CAKE stakers. Decision Proposal for CAKE Tokenomics v2.5 has passed, which will adjust CAKE Syrup Pool emissions from 6.65 CAKE/block to 3 CAKE/block immediately…
A “temperature check” proposal to deploy the decentralized exchange (DEX) Aave on the zkSync Era Mainnet has passed with overwhelming support from the Aave community. When voting closed on April 16 more than 99% of Aave (AAVE) token holders voted in favor of launching the third version of the lending and borrowing protocol on the zero-knowledge Ethereum Virtual Machine (zkEVM). According to the proposal first pitched on March 26, the launch will be limited to USD Coin (USDC) and Ether (ETH). A [Temp Check] is currently running to deploy Aave…
The Uniswap community has fully supported a proposal to deploy the exchange’s protocol to the Polygon Zero Knowledge Ethereum Virtual Machine rollup (zkEVM). All participating UNI token holders unanimously voted on the proposal to see a large list of projects built on the Uniswap v3. Uniswap is a top decentralized exchange; UNI is the portal’s native token. Uniswap v3 to feature Polygon’s zkEVM All 191 UNI holders voted to pass the proposal to deploy Uniswap’s protocol on scaling solution provider Polygon’s ZkEVM rollup. The votes surpassed the 40m threshold, and over…
A controversial proposal seeking the return of 700 million ARB governance tokens to Arbitrum’s DAO Treasury was rejected by a massive number of votes on April 15. The Improvement Proposal AIP-1.05 was introduced after the Arbitrum Foundation transferred funds without community approval in March. The AIP-1.05 was defeated by 118 million votes, representing 84% of the total votes received, while 21 million ARB tokens voted for the proposal, nearly 14.5% of the total. Around 2 million ARB tokens abstained. The proposal asked the Foundation to return the tokens as a “symbolic…
The United States Securities and Exchange Commission (SEC) has announced it will be revisiting the proposed redefinition of an “exchange” under the agency’s rules — a move which could include crypto market participants in decentralized finance, or DeFi. In an April 14 open meeting with SEC commissioners and staff, chair Gary Gensler said the proposed rule amendments could benefit investors and markets by bringing certain brokers under additional regulatory scrutiny as well as “modernizing” rules which define an exchange. Under the proposal, an “exchange” would be more closely defined as…
Decentralized exchange (DEX) Uniswap is seemingly set to launch on the new zero-knowledge Ethereum Virtual Machine (zkEVM) roll-up solution from scaling solution provider Polygon. While Uniswap (UNI) tokenholders have until April 14 at 9:05 pm UTC to vote on the proposal to launch Uniswap v3 on the zkEVM, the 40 million vote threshold needed for the proposal to pass has already been reached — with over 42.4 million votes recorded in favor of the integration. All 191 Ethereum addresses voted in favor of the proposal with financial modeling platform Gauntlet…