Tag: Token

FTX victim raises $450k for liquid token startup

FTX victim, who lost over 90% of his net worth following the collapse, successfully raised $450,000 from his recently launched trading fund. Belgian resident Kasper Vendeloock recently launched Musca Capital, a new fund that trades liquid tokens. The venture is supported by Hashmask NFT project founders and two other investors. With the funds raised, Vandeloock aims to rebuild his trading systems and implement automated strategies. He will begin by trading liquid tokens on centralized exchanges. Vandeloock strives to recover from a substantial financial setback resulting from the collapse of the…

Polygon to replace MATIC with POL token 

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Polygon has announced plans to replace its native MATIC token with POL as part of the Polygon 2.0 upgrade. POL will serve as an instrument of coordination and growth of the Polygon 2.0 ecosystem and the main driver of the project’s vision to become the value layer of the Internet. Polygon unveils POL  Having recently announced the gradual rollout of its network upgrade dubbed Polygon 2.0, the Sandeep Nailwal-led Ethereum layer-2 scaling network is now set…

Token hoarders defeat the purpose of most DAOs: Study

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A pair of researchers from the University of Texas at Austin and Princeton University conducted a study to determine how tokenization affects decentralization in decentralized autonomous organizations (DAOs). Their findings indicate that many of the challenges to autonomy are related to the reasons individual users have for participating.  According to their research, the larger a DAO grows, the more incentive participants have to consider DAO tokens investments: “The presence of investors diverts the subsidy away from users and thus harms their participation. More importantly, investors may even take a majority…

Ripple’s XRP Token Ruling a ‘Milestone Win’ for Crypto Industry, Says J.P. Morgan

“Large capital pools have been reticent to engage in the industry with unclear rules of the road, while the related overhang has also slowed innovation, adoption, and just overall crypto ecosystem valuation, in our opinion — accelerating as regulatory actions heated up over the past year,” analysts wrote. Source CryptoindustryJ.PMilestoneMorganRipplesrulingTokenwinXRP CryptoX Portal

Polygon proposes upgrading MATIC into a multipurpose token for all chains

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Ethereum layer 2 development firm Polygon proposed upgrading its in-house MATIC (MATIC) token into a multipurpose token that can be used to validate multiple chains. The proposal for MATIC’s technical upgrade is subject to approval from the Polygon community. Once approved, MATIC’s upgrade to a multipurpose token will result in its renaming to POL. According to the announcement shared with Cointelegraph, POL’s utility will span all the Polygon protocols, which includes Polygon PoS, zkEVM and Supernets. Sharing details about the anticipated upgrade, the announcement read: “Primarily, it enables the pool…