Tag: Proposal

Solana’s Parrot Protocol submits proposal to go tokenless, investors risk face -89% returns

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A recent proposal from Parrot Protocol’s team, a Solana-based liquidity network, has sparked controversy among its community members. The proposal, up for vote until July 27, calls for the redemption of its PRT tokens for liquid treasury value, and the transition to a no-token protocol. Based on the proposal, the PRT redemption price was established at $0.0045 per token. According to data from CryptoRank, the protocol raised over $89 million since its inception in 2021, with a current return on investment (ROI) of -89% for investors in its Initial DEX…

Parrot Finance early backers to lose 90% of investment in contentious proposal

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…

Valkyrie’s spot Bitcoin ETF proposal is now on SEC’s Nasdaq rulemaking list

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Valkyrie’s Bitcoin exchange-traded fund proposal has been accepted by the SEC for official review. The proposal entered the official docket on July 17, as per data from the SEC’s Nasdaq rulemaking list. Last in the batch Following the recent publication of BlackRock’s spot Bitcoin exchange-traded fund (ETF) proposal on July 13, Valkyrie’s listing on the docket marks the last in the batch under consideration by the U.S Securities Exchange Commission (SEC). The proposed fund, symbolized as…

AI proposal sparks conflict in Hollywood as SAG-AFTRA goes on strike

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Artificial intelligence (AI) has crept into another arm of Hollywood sending the industry back into an already established debate over its usage as Duncan Crabtree-Ireland, the Screen Actors Guild‐American Federation of Television and Radio Artists (SAG-AFTRA)’s chief negotiator, revealed a proposal from Hollywood studios. During a press conference on July 13 in which Hollywood actors confirmed that they were going on strike, Crabtree-Ireland revealed a proposal from Hollywood studios entailing an AI proposal featured in the statement made by the Alliance of Motion Picture and Television Producers (AMPTP) after futile…

Digital euro proposal from European Commission seeks universal approval

On June 28, the European Commission unveiled its proposed legislative plan for a digital euro, with the intention of establishing it as a widely embraced and readily available payment method. The announcement emphasized the importance of enabling individuals to acquire digital euros through their banks upon request, ensuring convenient access and safeguarding against the risk of exclusion for citizens. Share customer data The European Commission published its legislative plans to underpin a digital, saying it would ensure Europeans can pay digitally for free across the currency zone. As part of a distinct…

European Commission aims for universal acceptance with digital euro proposal

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On June 28, the European Commission announced it had proposed a legislative plan for a digital euro, aiming to make it a widely accepted and easily accessible form of payment. The announcement emphasized that allowing individuals to obtain digital euros through their banks upon request ensures easy accessibility and prevents citizens from being left behind. The proposal also includes provisions for free basic digital euro services, privacy protection and offline payments. In a separate proposal, the commission suggested that banks, insurers and funds should share customer data with fintech companies in…

Terra Classic Engineers Working on Major Revival Plan with ‘Six Samurai’ Proposal

The ‘Six Samurai’ proposal presents roadmap to important components such as the migration from Columbus-5 to Columbus-6 and an upgrade to the Cosmos SDK. Six engineers working on the Terra Classic ecosystem have proposed a ‘Six Samurai’ plan for the complete revival of the blockchain ecosystem. This development comes as some community members of Terra have been looking to break away entirely from the shadows of disgraced founder Do Kwon and bring new life to the LUNC ecosystem. Terra Classic, the original network developed by Terraform Labs, has remained as…

LUNC developers submit proposal for liquid staking on Quicksilver

Terra Luna Classic (LUNC) developers have submitted a joint governance proposal to the community and validators that will introduce liquid staking derivatives with the Quicksilver network. The proposal incorporates multiple interchain account (ICA) host message types for integrating QuickSilver. It has garnered positive feedback from the LUNC community, paving the way for potential advancements in the token’s ecosystem. Titled “Allow Various ICA Host Message Types (For QuickSilver),” the proposal was presented to Commonwealth by developer Parker Lowe, who also took to Twitter to generate awareness and gather community attention. The document bears…