DAO
Tokens Don’t Make a Democracy: Buterin Critiques On-Chain Voting
Vitalik Buterin, criticized the state of on-chain governance today on his blog, arguing blockchain projects have become overly reliant on token-based voting as they try to become more decentralized. Buterin wrote: “The most important thing that can be done today is moving away from the idea that coin voting is the only legitimate form of…
DAOs Will be Ready the Next Time Washington Comes After Crypto
It didn’t take long for DeFi’s rank-and-file to mobilize after the U.S. Senate ran roughshod over the community’s concerns last week. An array of players in decentralized finance are now marshaling forces to stand up for the industry. On Friday, August 13, the decentralized autonomous organization behind yield maximizer Yearn Finance authorized a transfer of…
Governance Wars Break Out Over Proposal to List BOND on Aave
DeFi’s latest DAO war is offering an inkling to just how thorny tokenized governance can get. Supporters of the tokenized risk protocol BarnBridge are upset as a proposal to list the project’s BOND token as collateral on lending platform Aave has been met with unexpected resistance from a handful of large token holders in the…
Decentralized or Not? The Uniswap Protocol and Interface Are Different Beasts
Uniswap is one of the few DeFi protocols that runs fully permissionlessly, without interruptions or possible human intervention. It’s considered to be the gold standard for the space, which is why it was so jarring when management behind the decentralized exchange decided to remove 100 tokens from its interface. Uniswap Labs is the software development…
Maker Takes Final Steps to Become Fully Decentralized Ushering in New DeFi Phase
Maker Foundation’s CEO Rune Christensen stepped down this week, leaving a carefully built DAO to run the protocol in his place. The move marks the beginning of a new phase for the lender and arguably for DeFi itself, as the ecosystem’s first dapp transitions into a fully decentralized organization. “Today, the Maker Protocol is self-sustainable…
BasketDAO's Brand New BMI Stablecoin Product Aims to Revolutionise Treasury Management
BMI is an index of stablecoin yield farms from BasketDAO. It's automatically rebalanced monthly to ensure that yields are high and risk is diversified.
SushiSwap Treasury Sale Proposal Draws Community Ire
SushiSwap’s $60M strategic fundraising round has come under fire from community members who dislike the plan to offer investors deep discounts at a time when its tokens are slumping in the marketplace. Last week, the SushiSwap team introduced a proposal to diversify the protocol’s treasury. The decentralized exchange holds the bulk of its treasury funds…
UNI Sale Raises Concerns Regarding Newly Formed DeFi Education Fund
A series of unexpected trades in the last two days roiled the DeFi Education Fund set up by Uniswap token holders, leading to finger pointing and accusatory tweets as the newly formed lobbying organization struggled to fend off more controversy. It started yesterday when Igor Igamberdiev, a research analyst at The Block, said on Twitter…
Gitcoin Opens the Dog Food to Fund its DAO
In a fresh move to bootstrap Gitcoin’s DAO, holders of the protocol’s GTC token voted to add a $50K category to its grants program. Gitcoin, a funding platform that supports open source development, typically concentrates on what it calls Grant categories. These include “Infrastructure Tech” and “Dapp Tech.” But Gitcoin released its DAO last month…
Curve Drama Intensifies as New Proposals Target alUSD and Saddle Finance
In the wake of Alchemix’s troubled alETH release, Curve Finance has produced two governance proposals targeting tangential products of the automated loan repayment protocol. There’s also been a flurry of chatter about possible legal action as the dustup accelerates. The first target — Curve’s own alUSD pool. Charlie Watkins, project lead at Curve, proposed removing…
