🫴VanEck Promises To Fund Ethereum Developers With ETF Profits

GM Defiers!

VanEck has promised to divert 10% of profits generated from its upcoming ETH ETF to support Ethereum development. The funds will go to the Protocol Guild, a collective of 152 core developers, for at least 10 years.

Aave is set to overhaul its governance structures with a new multi-chain design. Votes will be cast via the Polygon and Avalanche networks, with the Aave DAO subsidizing the associated transaction fees to provide fee-free voting.

The Bitcoin Ordinals community is locked in contentious debate over how to manage indexing the NFT-like inscriptions. Some researchers fear that a proposal from Casey Rodarmor, the inventor of Bitcoin Ordinals, could threaten to destabilize the protocol.

And Savings DAI, the yield-bearing version of MakerDAO's DAI stablecoin, has surpassed a total value locked of $1B. However, the market cap of DAI continues to decline despite sDAI's success.

✍️ In today’s newsletter:

• VanEck to support Ethereum development with ETF profits
• Aave prepares for multi-chain governance revamp
• Bitcoin Ordinals indexing drives fierce debate
• sDAI unable to reverse DAI downturn despite $1B TVL

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