Token Archives

Why The Uniswap (UNI) Token Is Almost Worthless: Researcher

August 3, 2023

In an analysis, Anders Helseth, Vice President at K33 Research, has mounted a strong case against the viability of the Uniswap (UNI) token. His analysis pivots on the intriguing dynamics of the decentralized finance (DeFi) market, fundamentally challenging the current valuation and future potential of UNI. Helseth begins his argument with a seemingly straightforward question: “The Uniswap protocol generates significant trading fees, but will the UNI token ever capture its (fair) share?” His conclusion is emphatically negative. Is The Uniswap (UNI) Token Worthless? For context, UNI is a governance token…

Bitget Exchange Sued by Advisor of a Failed Token Project After the Listing Goes Sour

August 3, 2023 boss

“Since October, I haven’t got any tokens so it was very fair for me to sell,” he said in an interview, adding that before the listing, he received 7.5 million tokens and 1.3 million of them he sold on Bitget. He was also selling some on two other exchanges, MEXC and Gate, he added, and those two had zero problem with that. Source

FTX CEO Says Embattled Exchange Ready for Bankruptcy Plan That Will Extinguish FTT Token Claims

August 2, 2023 boss

The bankrupt crypto exchange FTX has submitted a draft reorganization plan to the courts to pay back creditors. The draft plan, filed with a US bankruptcy court on Monday, calls for scrapping claims based on holdings of the disgraced company’s native token, FTT. The draft says the FTT-based claims against the exchange should be dropped due to the “equity-like characteristics” of its native token. It also calls for canceling any other equity interests. FTX plans to pay back other debtors and customers in cash. The company’s CEO, John J. Ray…

Uniswap Delists HEX Token After SEC Deems It An “Unregistered Security”

August 2, 2023 boss

Uniswap, the largest decentralized exchange, has removed the HEX token from its interface after it was recently declared an unregistered security by the United States Securities and Exchange Commission (SEC). This comes as another blow for the token in what has been an unpleasant week so far. This unfavorable run has had an impact on the price of HEX, which is currently valued at $0.00486457. According to CoinGecko data, the token’s price has declined by more than 12% in the last day, as it continues in a downward trend. Uniswap…

Justin Sun, other crypto investors buy CRV token in attempt to help Curve Finance

August 2, 2023

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Following a recent exploit on the decentralized exchange, Curve Finance founder Michael Egorov managed to find an answer to his loan dilemma. Thanks to support from a group of backers, including Justin Sun, the principal value of Egorov’s loan on Aave (AAVE) decreased from $63.3 million to $54.1 million. Providing support to the fallen On July 30, Curve Finance faced a vulnerability linked to the Vyper programming language, resulting in an exploit that led hackers to…

FTT Token Surges 17% After FTX Confirms Rumors Of Relaunch

August 1, 2023 boss

Bankrupt crypto exchange FTX has submitted a proposal that may result in the relaunch of its international arm FTX.com. On August 1, the company’s bankruptcy administrators confirmed rumors of a relaunch by filing a draft plan of reorganization in which it proposes the kick-off of a “rebooted” offshore exchange exclusive to non-US users only. FTT Gains By 17% Amidst Plans To Terminate Claims FTT, the native token of the FTX exchange, recorded a significant boost in its price on the emergence of the exchange’s proposal to relaunch in the international…

Curve’s New Liquidity Pool Could Prevent Liquidation of CRV Token

August 1, 2023

“He [Erogov] borrowed FRAX using CRV as collateral on Fraxlend. However, because people are withdrawing FRAX from the pool, fearing bad debt in the event of CRV liquidation, the APY has significantly increased,” Ignas explained. “He now needs more FRAX deposited to that CRV/FRAX lending pool. That’s why the introduction of a new pool on Curve, equipped with CRV incentives.” Source

Bald (BALD) Token Gobbled Millions of Dollars From Investors, But Does it Have Connections to Alameda?

August 1, 2023

“Given the track record and the lack of contacts with other players (even 3AC actively interacted with BlockFi, Genesis, etc.), then we can point the finger toward someone from Alameda,” he tweeted, “And let’s try to answer probably the most critical question, SBF or Sam Trabucco?” Source

BALD token developer denies rug pull as price falls 85% post-launch

July 31, 2023 boss

A new memecoin on Coinbase’s Base network fell 85% after its developer allegedly pulled 1,034 Ether in liquidity, worth approximately $1.9 million, from the market, according to social media reports and blockchain data. The developer for Bald (BALD) denied making any market sales of the coin, stating, “[I] just added/removed 2 sided liquidity and bought.” Watching the $BALD chart pic.twitter.com/2lc0HEVlNu — Whale (@WhaleChart) July 31, 2023 Coinbase’s Base network was launched for builders on July 13. However, its development team has urged ordinary users not to use the network, as…

DYdX Proposal to Slash Token Issuance Wins Early Support in Vote Ending Tuesday

July 31, 2023

If passed – voting ends Tuesday – the governance proposal will reduce the amount of DYDX given to liquidity providers per epoch to 575,342, a 50% decrease that amounts to about $1 million at current prices. Antonio Juliano, dYdX’s founder, said on X (the site formerly known as Twitter) that overall DYDX token emissions would be cut by roughly 25%. Source