Monthly Archives: February 2021

Yearn.Finance puts expanded treasury to use by repaying victims of $11M hack

DeFi protocol Yearn.Finance repaid victims of its $11M hack by opening a Maker vault with YFI tokens from its newly expanded treasury. Major decentralized finance protocol Yearn.Finance (YFI) has restored its yDAI vault in the aftermath of a $11 million exploit by hackers. Yearn announced Tuesday that they opened a Maker vault with YFI tokens from the treasury and minted 9.7 million DAI tokens from the vault to keep the yDAI vault intact. Using borrowed money allows the project to reimburse users without taking a hit to […]

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Can the launch of Colony v2 relieve DeFi’s governance woes?

Years in the making, Colony aims to solve DAO pain points and bring decentralized governance to the masses Colony, an early Ethereum project aimed at building decentralized governance tooling, announced today that it is preparing for a relaunch that’s been five years, multiple missteps, and a few half-starts in the making. If successful, however, the new app could be a boon for the dozens of decentralized finance (DeFi) protocols currently struggling with the clumsy mechanics of DAO governance — a nearly universally-acknowledged problem in dire need of […]

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Free TON and Dune Network to Merge Following Successful Vote, Free TON Gains Top Researchers

Free TON is a community driven blockchain network with a focus on decentralized governance based on the open-source TON project which was previously developed by Telegram. Dune Network is a platform for distributed applications over a blockchain, focused on safety and security. The two groups will now begin to merge following a successful vote for a decentralized M&A proposal. First Decentralized Merger and Acquisition More than 50% of participating community members have voted in favor of a merger proposal between Free TON and Dune Network. This is […]

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Matic rebrands to Polygon in pursuit of ‘Polkadot on Ethereum’ strategy

The Layer-two protocol plans to become an aggregator and interoperability facilitator for Ethereum scalability solutions. The Matic Network, a project developing an Ethereum-based layer-two solution and an independent proof-of-stake blockchain, announced Tuesday that it would rebrand to Polygon. While the existing products and the token would remain largely the same, the branding change signals a strategic change to become a layer-two aggregator. Polygon is set out to support other Ethereum scalability solutions, notably Optimistic Rollups, ZkRollups and StarkWare’s Validium, in addition to its in-house platforms. The strategy […]

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‘The wealthiest time of my life was the most miserable’: Peter McCormack

“Apart from having a good wife, I have everything I need in life, and money is not going to get me more of what I need.” For someone who devotes so much of his life to Bitcoin and finance and who has made and lost a small fortune twice now podcaster Peter McCormack doesn’t actually seem to care that much for money. “I did have a lot of money in my life a couple of times,” says the 42 year old on a call from his home […]

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Crypto-friendly US senator invites Elon Musk to move to Wyoming

Saying the state has “the best laws for digital assets” in the United States, Senator Lummis asked the Tesla CEO if he would consider relocating. Following Tesla’s groundbreaking Bitcoin announcement, pro-crypto Senator Cynthia Lummis set out the welcome mat for Elon Musk in her home state of Wyoming. Taking to Twitter yesterday, Lummis invited the Tesla and SpaceX CEO to consider relocating to “one of the most business friendly states” with “the best laws for digital assets” in the United States. The offer followed the news that […]

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Rhode Island introduces ‘vital’ blockchain growth act

A new Rhode Island House bill aims to revamp state legislature to create a regulatory environment more conducive to “vital” blockchain growth. A new bill introduced to the Rhode Island state legislature aims to boost the state’s economy by opening up the “Ocean State” to blockchain innovators. Dubbed the Rhode Island Economic Growth Blockchain Act, the bill was introduced on Feb. 8 by Republican House representatives David Place and Blake Filippi. The bill states that the proposed creation of a regulatory sandbox in Rhode Island was spurred […]

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Indian Crypto Exchanges Flooded With INR Deposits and New Users After Elon Musk’s Tesla Revealed Bitcoin Purchase

Indian crypto exchanges have been experiencing a flood of INR deposits and surging trading volumes since it was revealed that Elon Musk’s Tesla purchased $1.5 billion worth of bitcoin. The positive sentiment swept the Indian crypto industry despite the uncertainty of the cryptocurrency bill that may soon be introduced in parliament. INR Deposits and Trading Volumes Spiked After Tesla’s Bitcoin Buy News Indian cryptocurrency exchanges experienced high deposit volumes on Monday after Elon Musk’s Tesla revealed that it bought bitcoin. According to the company’s filing with the […]

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The Emergence Of Bitcoin Through The Lens Of Austrian Economics

While many Austrian economists disagree on various topics regarding the origin of money, the most notable and agreed-upon theory on the origin of money is Carl Menger’s theory of salability.  Bitcoin arose in a world that was long past the barter phase. Since bitcoin was never used for barter, it did not face the problems that barter economies had, namely the problem of double coincidence of wants. While it might not be helpful to compare the emergence of bitcoin to the emergence of money in a barter […]

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Tesla’s $1.5B Bitcoin purchase leaves treasury experts scratching heads

Some treasury experts are finding it difficult to understand why Tesla recently bought $1.5 billion worth of Bitcoin — the best performing asset of the last decade. Corporate treasury commentators are criticizing Tesla’s $1.5 billion Bitcoin splurge, echoing the well-worn rhetoric of BTC’s volatility. Speaking to Financial Times, Jerry Klein, managing director at New York-based investment management firm Treasury Partners said that there was no use case for plowing corporate cash into Bitcoin. Another critic quoted by FT, Campbell Harvey of Duke University in Durham North Carolina, […]

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