Tag: Votes

PancakeSwap Community Votes to Reduce CAKE Token Supply

PancakeSwap put forward a proposal to reduce the maximum supply of its native CAKE token from 750 million to 450 million. One of the unique things about the crypto industry is the fact that many major projects operate as decentralized autonomous organizations (DAOs). As such, their users get a say in the decisions made by these organizations and can have their voices heard. A recent example of this was with the decentralized crypto exchange PancakeSwap. The DEX recently put forward a proposal to reduce the supply of the popular CAKE…

Aragon DAO votes to sue its founders over dissolution

Aragon DAO votes to sue its founders after they unilaterally decided to dissolve its governing body and reallocate assets. The members of Aragon DAO, a platform that allows developers to create and scale DAOs without coding, have decided to initiate legal proceedings against its founders. This action comes in response to the founders’ decision to disband the organization’s governing structure and reallocate the majority of its assets to its tokenholders, a move that was made without the consensus of the DAO community. The controversy began on Nov. 2 when the…

Aragon DAO votes to fund legal action against its founders

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A decentralized autonomous organization (DAO) is taking legal action against its founding team after a decision to dissolve its governing body and distribute most of its assets to tokenholders. On Nov. 2, the team behind Aragon announced that it would be dissolving the Aragon Association. The group said it’s deploying the organization’s treasury so that ANT tokenholders can redeem Ether (ETH) in exchange for their tokens. The update will give back around $155 million in digital assets to its stakeholders. Citing various reasons, the team behind Aragon shut down the ANT…

LidoDAO Records Overwhelming 92% Votes To Exit The Solana Network

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In a recently concluded voting program, it was revealed that over 92% of LidoDAO members (Lido token holders) of the decentralized liquid staking protocol Lido Finance, voted in favor of Lido ceasing its operations on the Solana Network. LidoDAO Cut Ties With The Solana Network Following Community Vote The proposal was first introduced by Lido on Solana’s peer-to-peer (P2P) team on September 5, due to financial limitations. Following the introduction, the voting program began on September 29, 2023, and was concluded a week later on October 6.  The P2P team…

BarnBridge DAO votes to adhere to SEC ruling

BarnBridge DAO, which runs a small DeFi protocol, has concluded its voting process on addressing potential demands from the U.S. Securities Exchange Commission (SEC). The vote, which ended on Oct. 12, resulted in a unanimous decision to comply with any forthcoming SEC requirements and to pay fines if necessary. Tyler Ward and Troy Murray have been appointed as special delegates to liaise with the SEC on behalf of the DAO. Douglas Park will continue to serve as the DAO’s legal counsel and is authorized to sign the final version of…

BarnBridge DAO votes to comply with SEC order

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BarnBridge decentralized autonomous organization’s (DAO) members have conducted their voting on how to react to the United States Securities Exchange Commission’s (SEC) potential demands.  The voting ended on Oct. 12 with an unanimous decision to comply with the SEC’s potential demands and pay fines if necessary. Tyler Ward and Troy Murray were nominated as DAO’s special delegates for dealing with the regulator. At the same time, Douglas Park remains the DAO’s legal counsel and will sign the final version of the Order on behalf of BarnBridge. Voters have also let…

EU parliament votes overwhelmingly in support of DAC8 crypto tax reporting rule

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Lawmakers in the European Union parliament voted overwhelmingly in support of the eighth iteration of the Directive on Administrative Cooperation (DAC8), a cryptocurrency tax reporting rule, in a plenary session on Sep. 13.  Held in Strasbourg, France, the session reportedly saw DAC8 receive overwhelming support in the form of 535 member votes for and just 57 against. The measure received 60 abstentions as well. Heads up: The European Parliament plenary adoption of the #DAC8 is happening today As a reminder: DAC8 is an instrumental legislation designed to further harmonise the…

Pro-Bitcoin Javier Milei wins most votes in Argentina primary election

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An Argentinian politician with a knack for supporting Bitcoin and calling for the abolishment of his country’s central bank has taken the lead in the country’s presidential primary elections. With over 90% of the votes counted, libertarian pro-Bitcoin (BTC) candidate Javier Milei is currently leading with nearly 32% and is trailed by the conservative Together for Change (Juntos por el Cambio) party which is just under 30% according to Bloomberg data. Meanwhile, the left-wing Union for the Homeland (Unión por la Patria) coalition — the current ruling government’s group —…