Ethereum Founder States Token-Based Decentralized Governance Stops DeFi Secto...
Ethereum Creator suggests “proof-of-participation” and “proof-of-humanity” as the alternatives for the present coin voting. However, there is more to DeFi than what is happening now, he asserts. Vitalik Buterin, the co-founder of Ethereum, has taken an in-depth assessment of the token-based decentralized government. He suggests that the present voting structure is defective. As a result, […]
Related News
Buterin asserts that things need to move beyond coin voting as it exists in its present form, suggesting “proof-of-humanity” or “proof-of-participation” alternatives. Ethereum co-founder Vitalik Buterin has taken a deep dive into token-based decentralized governance, suggesting that existing voting mechanisms are flawed and may be holding the DeFi sector back from realizing its full potential.In a lengthy blog post published Aug. 16, Buterin stated the crypto community needs to "move beyond coin voting as it exists in its present form.”Currently, the majority of decentralized finance....
Data shows decentralized exchange volume skyrocketed in the last 6-months and Uniswap leads the pack. Uniswap, the most widely utilized decentralized exchange on Ethereum, has seen explosive growth throughout the second quarter. In fact, less than a month ago, Uniswap’s trading volume surpassed Coinbase Pro as the exchange processed $426 million worth of trades in a 24 hour span.Throughout 2019, the decentralized finance (DeFi) market was relatively stagnant until the concept of yield farming and governance tokens became more popular. Yield farming is a process where investors utilize....
The Ethereum Name Service (ENS), the entity that controls the decentralized domains built on top of Ethereum, announced it would pivot to a decentralized governance model, opening the door to the formation of a DAO (decentralized autonomous organization). The ENS is now calling for delegates to propose their views to the community in order to be elected. The airdrop of the DAO tokens will open on November 8.
ENS Pivots to Decentralized Governance
The Ethereum Name Service, the organization behind the decentralized domain service on Ethereum, announced recently its intention of....
The 1inch Network’s governance framework will have many of the hallmarks of Ethereum-based projects in a move that prioritizes user experience and broader network participation. 1inch Foundation, the non-profit arm of the 1inch decentralized exchange aggregator, has introduced important changes to its governance framework intended to streamline the proposal process. On Wednesday, the Foundation announced the creation of the 1inch Network Governance, which complements the “instant governance” framework the protocol launched back in December 2020. Instant governance gave 1inch token stakers....
The Ethereum co-founder has often advocated for projects to move away from coin voting in DeFi and DeGov, as it will enable smaller holders a chance to truly participate in governance. Ethereum co-founder Vitalik Buterin has shown support for Optimism’s new governance structure, noting that proposals such as using the OP token for gas fees shows “explicit representation of non-token-holder interests.”The Ethereum layer-2 scaling solution deployed the first round of its long-awaited OP token airdrop on June 1 as part of its new governance project the “Optimism Collective.” Optimism’s new....