The protocol runs a two-token model like MakerDAO. The difference, however, is that Liquity doesn’t have a governance system. Therefore, large holders of LQTY cannot influence decision-making. The fully-decentralized setup also means the protocol’s original design cannot be altered to introduce centralized stablecoins, which have recently come under regulatory scrutiny, as new collateral. Source
“The crvUSD could be a very interesting development, as we haven’t yet seen a stablecoin that is issued by a major DEX,” (decentralized exchange) Daniel Zlotin, senior DeFi developer at Orbs, wrote in a Telegram message to CryptoX explaining crvUSD’s utility. Source CryptoCurveEyeStablecoinSurgesTokenTradersUSD CryptoX Portal
“If this is a Binance issue, we see further kind of regulatory scrutiny being imposed by the SEC, you do have that headline risk, and I think that’s certainly what’s weighing on crypto markets,” Tastycrypto Head of Digital Assets Ryan Grace told CoinDesk TV. Source
Paxos issues the Pax dollar (USDP) and Binance USD (BUSD) tokens, the latter is a Binance-branded stablecoin. Binance, on its part, told CoinDesk on Monday: “BUSD is a stablecoin wholly owned and managed by Paxos. As a result, BUSD market cap will only decrease over time.” Source
The airdrop comes as Optimism looks for an edge over its largest competitor, Arbitrum, another Ethereum layer 2 albeit one without a token. Abritrum currently boasts more than double the amount of transacting wallets as Optimism, widening the gap between the two exchange’s transacting wallets over the past month. Source
Five years on from its inception, fan token platform Chiliz has launched its own layer-1 Ethereum Virtual Machine (EVM) compatible blockchain ecosystem to support its growth. Chiliz’s fan token ecosystem has long been powered by Ethereum-based ERC-20 tokens, but the validation of the Chiliz ‘2.0’ Blockchain genesis block sees the ecosystem shift to its own layer 1. The new blockchain uses a system of 11 active validators with Proof of Stake Authority (PoSA) consensus, which is touted to provide faster block times, lower fees and energy usage. According to the…
Decentralized finance (DeFi) protocols like Flux rely on smart contracts instead of middlemen to provide financial services, such as lending and borrowing, to users. On the other hand, yield farming refers to users getting rewarded with a project’s tokens for providing liquidity to that project. Source
The SEC has declined to comment on rumors that it intends to classify tokens that allow staking as securities. Source
Meanwhile, ether followed bitcoin’s lead, holding its most recent support comfortably above $1,600, although it was recently down over 2% from Tuesday, same time. But as CoinDesk markets analyst Glenn Williams noted Wednesday in a column column, the second largest crypto in market value had regained its correlation to BTC after lagging so far this year. Both cryptos are up about 38% since Jan. 1. Original
The price jumped after an annoucement that Stargate would partner with Trader Joe announcement to unlock omnichain fungible tokens. The Stargate DAO also passed a token re-issuance proposal following security concerns tied to Alameda Research’s wallets. Source CrossChainDigitsDoubleFinancesJoePartnershipProtocolStargateSurgesTokenTrader CryptoX Portal