Wonderland’s treasury saga exposes the fragility of DAO projects today
The controversy around Wonderland DAO has brought back focus on the “not-so” decentralized nature of some DAO projects. The Wonderland protocol became the talk of the decentralized finance (DeFi) world after the platform was found at the center of a brewing controversy. On Jan. 27, DeFi analyst zachxbt revealed that one of the anonymous co-founders of Wonderland happened to be QuadrigaCX co-founder Michael Patryn, who has been operating under the name of Sifu.QuadrigaCX is a defunct crypto exchange from Canada which closed when Gerald Cotten, the exchange founder and sole person with....
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The Ethereum Foundation has been around for a while and is in charge of funds that get distributed to projects on the Ethereum network. In its treasury, there is a large amount of ETH among other crypto investments that help to fund projects. Recently, the Ethereum Foundation released a report that showed what digital assets […]
Yesterday was a whirlwind for anybody working or invested in the ethereum world. Understandably, the day’s attack on The DAO has led to criticism, skepticism and concern about the future of Ethereum. But is there really a cause for concern? Of course, with millions of dollars worth of the cryptocurrency ether invested in The DAO (as of the writing of this), it’s no surprise that the attack is making headlines, and mostly negative ones at that. That said, I think it’s important to view today’s events as an important case study in the anti-fragility of new digital technologies, that will....
"Some people said Wonderland should just be wound down and funds be given back to token holders. I believe this is the easy way out," says Sestagalli. On Friday, Daniele Sestagalli, co-founder of decentralized finance, or DeFi, protocol Wonderland and stablecoin protocol Abracadabra, issued a statement on the path forward after the doxing of his colleague Michael Patryn:“Do we wind down or continue to fight for the aspect of an investment DAO [decentralized autonomous organization] being a revolutionary new organization? For the option that I am for, which is to fight and bring someone new....
A point of contention non-coiners have regarding Bitcoin is its alleged use by cybercriminals. People use the leading cryptocurrency for nefarious purposes, that’s a fact. However, so is every other form of money known to man used. There’s a difference, though: The blockchain. It registers every Bitcoin transaction, forever. A point that the DarkSide saga […]
Crypto restrictions in India, fresh darknet market research from Chainalysis and the newest chapter in Virgil Griffith’s North Korea saga.