I just voted "For" on "Request for Continuation of the Arbitrum DDA Program Request" snapshot.org/#/arbitrumfoundation.eth/proposal/0x5bede8277e7fe0beef5764d2915d1d1c288fcc47747c6fa576b501f5cb3d6115 #Snapshot
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When it comes to Bitcoin, MicroStrategy co-founder and chairman Michael Saylor says he’ll be “buying the top forever.”
The entrepreneur and long-time Bitcoin bull, whose business intelligence firm MicroStrategy is the world’s largest private Bitcoin holder with 190,000 Bitcoin worth $ 9.9 billion, reiterated on Tuesday his intentions to keep accumulating.
ERC404: A Wild Ride in the NFT-Crypto Mashup
The world of Ethereum is abuzz with ERC404, a brand new token standard that's shaking things up by merging the worlds of NFTs (non-fungible tokens) and cryptocurrencies. Launched just a week ago, this hybrid beast has already generated a staggering $ 87 million in trades, with the top project, Pandora, raking in over $ 230 million alone.
What's the Magic?
ERC404 offers a unique twist: holding at least one token from a project automatically mints you an NFT. Think of it like a two-in-one deal. You get the fungibility (tradability) of a regular token, but also the unique ownership and potential value of an NFT. This opens up a whole new level of liquidity for NFTs, which are typically known for being less tradable than their crypto counterparts.
Trading Frenzy:
The ease of buying and selling ERC404 tokens has sparked a trading frenzy. The top three projects – Pandora, MNRCH, and DeFrogs – have collectively seen $ 113 million worth of trades in just 24 hours, grabbing a whopping 12% slice of Uniswap's Ethereum trading volume. That's right, these new kids on the block are already rubbing shoulders with the big dogs!
But Hold Your Horses...
This wild ride comes with some hitches. The newness of ERC404 means it's not without its fair share of growing pains:
Rug Pulls: Unscrupulous actors have created projects with malicious contracts, allowing them to mint infinite tokens and disappear with investors' money. The infamous "Punks" scam, where a token skyrocketed to $ 20,000 only to plummet to near worthlessness, serves as a stark reminder of these lurking dangers.Gas Guzzler: The current ERC404 standard isn't exactly fuel-efficient, leading to spiking gas fees on the Ethereum network. Imagine paying more to complete your transactions – not exactly a recipe for happy users.
A Glimmer of Hope:
The developers behind Pandora, the leading ERC404 project, are aware of these issues and are working on a fix. They've promised a 300-400% reduction in gas costs in the next update, which could be a game-changer for user experience and network sustainability.
The Verdict:
ERC404 is undoubtedly an exciting experiment with the potential to revolutionize the way we interact with NFTs. However, addressing the security risks and optimizing gas costs are crucial for its long-term success. Only time will tell if this hybrid token standard can overcome these hurdles and become a sustainable force in the crypto landscape. So, buckle up and keep your eyes peeled, because the ERC404 story is far from over!
A new report from the UK government and the Bank of England has found that many people are concerned about the privacy implications of a digital pound. The report outlines a number of measures that would be put in place to protect privacy, including legislation that would guarantee both users' privacy and that neither the Bank of England nor the government would control how people spend their money.
The report comes as CBDCs (central bank digital currencies) have become a hot button topic, with privacy concerns being a major issue in both the EU and the US.
Supporters of a digital pound argue that it would improve financial inclusion and efficiency, while opponents say it would pose a threat to privacy and could be used for surveillance. The government has said that it will continue to engage with the public on the issue and will not launch a digital pound without strong safeguards in place.
The article discusses the process that would be required to launch a digital pound, including a consultation process and a debate in parliament. It also notes that the government and central bank are moving forward with the design phase of the digital pound.
Overall, the article provides a comprehensive overview of the current state of play regarding the digital pound and the privacy concerns that it has raised.
This should be Grayscale’s moment.
The crypto asset management pioneer broke new ground when it offered the first listed Bitcoin fund, a trust, in 2013.
Yet now, with expectations mounting that US regulators are about to approve the first Bitcoin spot price exchange traded fund, Grayscale may be eclipsed by Wall Street giants such as BlackRock and ARK Invest.
The question now is how Grayscale pivots to a new marketplace crowded with rivals.
Wall S