Governance proposals and layer-two launches provide a boost to altcoins
RGT, CRV and SNX saw double-digit rallies after new governance proposals and migrations to layer-2 platforms. Bullish sentiment is on the rise on Sept. 14 as the price of Bitcoin (BTC) climbed higher throughout the morning and now takes aim at the $47,000 level. The building momentum also had a positive effect on altcoins and a handful of tokens posted double-digit gains.Top 6 coins with the highest 24-hour price change. Source: Cointelegraph Markets ProData from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past 24-hours were Rari Governance Token....
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The total number of DAOs has increased dramatically over the past 12 months along with their participation rates, but it may not mean decentralized governance is catching on. The total number of decentralized autonomous organizations (DAO), the number of governance proposals put forward, and the number of votes cast, have all seen astounding 8X growth over the past 12 months.Data compiled by Snapshot Labs, shared by Electric Capital Engineer Emre Caliskan in a June 9 tweet, highlighted that DAO numbers have increased by 8.8X, from 700 in May 2021 to 6,000 now. The number of proposals has....
The past week in DeFi saw the launch of another $100M fund by Solana and the number of DAOs surged over 8X with increased protocol activity. This past week, the decentralized finance (DeFi) ecosystem was ruled by decentralized autonomous organizations and new fund launches for the growth of the Web3 ecosystem. The total number of DAOs surged by eight times while Solana launched a $100 million DeFi fund.Optimism, an Ethereum layer-2 protocol that Vitalik Buterin recently praised for its governance model, lost 20 million tokens due to a mix-up of layer-1 and layer-2 addresses. A leaked....
The SafeSnap platform allows executing Snapshot governance votes automatically. Gnosis and Snapshot have collaborated to develop SafeSnap, a product that allows for automatically executing successful governance votes on Snapshot. The module, which combines features of Gnosis Safe Multisig and the Snapshot off-chain governance platform, was released on Tuesday.Snapshot is a “governance-as-a-service” provider for a number of decentralized finance projects, including Yearn.finance, SushiSwap, Balancer, Aave, Cream and others. It provides a simple interface to create governance proposals and....
Powerpool has launched an index and meta-governance token for the recently consolidated Yearn.finance ecosystem. PowerPool, a project exploring the utility of Ethereum-based governance tokens, has launched YETI — an index and “meta-governance” token for the Yearn.finance ecosystem.YETI was conceived by Messari’s Ryan Watkins, who published the proposal for a Yearn Finance ecosystem index token to PowerPool’s governance forums on Dec. 4.The Messari researcher noted that “despite development and community resources being merged” among the YFI ecosystem members, “governance among these....
Amid the crackdown against Tornado Cash, associated addresses, contributing developers, and anyone who uses the mixing platform, the project’s governance token called TORN has shuddered in value. TORN is an ERC20 with a fixed supply that is leveraged for governance proposals and voting. During the last seven days, the Tornado Cash governance token has lost 57.6% in value against the U.S. dollar. Tornado Cash Token Loses More Than Half of Its Value This Week It seems that everything Tornado Cash touched is tainted and during the last week, the project’s governance token....