Near Protocol picks up slack, onboards Tracer following Terra’s downfall
As explained by Near Foundation’s Nicky Chalabi, projects like Tracer seek alignment with the core values of the ecosystem that can support the company’s roadmap in time to come. For many layer 1 crypto projects, returning to normalcy from Terra’s death spiral meant a complete migration to a different ecosystem. But, how does one make the right move, especially after knowing the unfortunate fate of their initial platform of choice?In the case of Tracer, a Web3 fitness and lifestyle app, moving away from the Terra ecosystem for survival was just one piece of the puzzle. Choosing a new host....
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DAI tops it off as the strongest stablecoin to date despite Terra’s plunge. USDT and UST may have plummeted – but not DAI. It’s been a brutal two weeks in the crypto space especially with the devastating collapse of Terra’s stablecoin UST, which is currently trading at a little below 6 cents. Suggested Reading | […]
Tracer DAO has raised $4.5 million from the likes Framework Ventures, Maven 11, and Apollo Capital. Decentralized derivatives platform, Tracer DAO, has announced a successful $4.5 million fundraising round to expand its team and product suite.They hope to launch innovative derivatives for “any market with an oracle price feed,” with plans to one day allow ordinary consumers to hedge the cost of commuting and other household bills using tokenized derivatives.This week’s raise saw participation from crypto venture heavyweights, including Framework Ventures, Maven 11, DACM, and Apollo....
Citing an insider scoop, Autism Capital claimed that Abracadabra accrued $12 million in bad debt as a direct result of Terra’s sudden downfall, which has been refuted by founder Daniele Sestagalli. Magic Internet Money (MIM), a US dollar-pegged stablecoin of the Abracadabra ecosystem, joins the growing list of tokens losing their $1 value amid an untimely crypto winter. The sudden de-pegging of the MIM token commenced roughly on June 17, 7:40 pm ET, which saw the token’s price drop to $0.926 in just three hours.Terra’s LUNA and TerraUSD (UST) death spiral not only affected the investors....
In the ongoing SEC vs. Ripple court case, the defense team has written to Judge Sarah Netburn opposing the SEC’s motion to compel the firm to produce Slack communications. They demand the production of over 1 million pages of discovery. Slack is a proprietary message platform featuring chat rooms, private messages, and direct messaging. It […]
The SEC said that the previous production of Slack messages from Ripple was incomplete, and a massive quantity of data has not been collected. The legal battle between the United States Securities Exchange Commission (SEC and blockchain-based payments firm Ripple continues, with the regulator wanting further access to Ripple’s internal communications.The SEC filed a motion with the Southern District of New York on Monday, requesting Judge Sarah Netbrun to order Ripple to produce and submit its employee messaging on business communication platform Slack, Ripple executives’ attorney James....