CryptoX – Cryptocurrency Analysis and News Portal It’s wrong for a handful of billionaires to decide what’s good and safe for the world – even well-intentioned AI leaders. Absolute power corrupts absolutely. Source The post The AI 'Pause' Proposal Is Deceptive and Alarmingly Hazardous appeared first on CryptoX. CryptoX Portal
GMX, the decentralized crypto derivatives exchange that supports up to 50X leverage trading of bitcoin (BTC), ethereum (ETH), and other liquid assets, may soon integrate Chainlink’s low latency oracles into v2. GMX DAO proposes to integrate Chainlink’s low-latency oracles In the proposal, a user wants the GMX decentralized autonomous organization (DAO) that manages the cryptocurrency derivatives platform, to incorporate Chainlink oracles into GMX v2 and be Chainlink’s exclusive launch partner. The GMX v2 beta on Arbitrum, a layer-2 scaling solution on Ethereum, a smart contracting platform, has incorporated Chainlink’s low-latency oracles.…
A proposal to fund the Arbitrum Foundation with 750 million ARB tokens — nearly $1 billion — raised controversy in the ARB community over the weekend, as the Foundation announced that it was only ratifying a decision that had already been made. The conflict comes after a few days the layer-2 protocol airdropped its governance token. According to the AIP-1 proposal on Arbitrum’s DAO, the 750 million tokens would be used to cover “Special Grants, reimbursing applicable service providers […] and covering ongoing administrative and operational costs of The Arbitrum…
Those tokens would fund a “special grants” program meant to foster growth on Arbitrum, the Ethereum layer 2 that airdropped its governance token ARB just last week. But ARB holders would not get a say in who or how Arbitrum Foundation allocates the nearly $1 billion sum, according to the proposal, AIP-1. Source
Lending protocol and stablecoin issuer MakerDAO passed a proposal on March 16 to increase its portfolio holdings of United States Treasury bonds by 150%, from $500 million to $1.25 billion. The proposal aims to increase the protocol’s exposure to real-world assets and “high-quality bonds,” following its Dai (DAI) stablecoin losing its $1 peg during market volatility on March 11. The $750 million debt ceiling hike was approved by 77% of Maker’s delegates. A representative of MakerDAO told Cointelegraph: “Under this new deployment, MakerDAO would use $750 million of USDC in…
The budget for the first installment has been set at $125,000. According to the proposal, the pilot will be revealed in 90 days, after which the decentralized autonomous organization (DAO) will decide whether to continue funding the project. Nouns members will be allowed to submit story arcs and ideas for future installments. Source
According to Bank of London co-founder and CEO Anthony Watson in a statement, the acquisition of Silicon Valley Bank SVB’s assets could be a unique opportunity to grow the banking sector in the United Kingdom. The defunct Silicon Valley Bank (SVB), a commercial bank headquartered in Santa Clara, California, has attracted the attention of major financial regulators around the world. With offices in 13 nations around the globe, SVB’s bank run, which has been described as the largest bank failure in the United States since the 2008 financial crisis, affected…
MakerDAO is insulating itself from the vulnerability to risk associated with stablecoins according to the firm’s new proposal. It is a reaction to the recent depegging of USDC, which has rekindled worries over stablecoins in poor market circumstances. This proposal has seen MKR gain over 5% in the last 24 hours, trackers on Mar. 11 show. The urgent proposal aims to solve the problem associated with unstable cryptocurrencies. The latter will emphasize minimizing exposure to unstable stablecoins while simultaneously working to increase the DAI peg’s resilience. DAI is an algorithmic stablecoin issued…
On March 11, 2023, the decentralized finance project Makerdao issued an emergency proposal following the USDC depegging incident that saw the stablecoin dip down to $0.877 per unit. At the time of writing, Makerdao commands $3.1 billion in USDC collateral that backs a portion of the project’s stablecoin, DAI. Makerdao Proposes Changes to Limit Exposure to Potentially Impaired Stablecoins Members of Makerdao have been discussing a recent emergency proposal that aims to address the $3.1 billion in USDC assets the project holds as collateral. The news comes as Circle Financial…
According to a forum post from Maker DAO, issuer of the U.S. dollar-pegged DAI stablecoin, on Mar. 11, the firm requested an “urgent executive proposal to mitigate risks to the protocol.” Maker said that it possessed multiple collaterals “exposed to USDC tail risk” in light of the extraordinary de-pegging of the USD Coin (USDC) stablecoin that began on Mar. 10. Maker DAO currently possesses more than 3.1 billion USDC in collateral backing its DAI stablecoin. Firstly, Maker proposes reducing the debt ceiling of UNIV2USDCETH-A, UNIV2DAIUSDC-A, GUNIV3DAIUSDC1-A, and GUNIV3DAIUSDC2-A liquidity provider…