DeFi

Uniswap votes to transfer the second UNI grant of 1 million to the DeFi Education Fund

Published

9 months ago

9 May, 2024

Uniswap votes to transfer the second UNI grant of 1 million to the DeFi Education Fund

DEF shocked the web3 community by abruptly selling half of the 1 million UNI grant it received in 2021.

Uniswap, the leading decentralized exchange in terms of trading volume, has voted to renew its financial support for the DeFi Education Fund (DEF), a web3 advocacy organization.

May 5, Uniswap governance pass a temperature check proposal requesting 1 million UNI tokens ($7.58 million) in additional funding to support DEF operations opposing legislative threats targeting the DeFi sector.

Half of the funds will be immediately transferred to DEF’s Coinbase account, with the remainder of the assets distributed over a 12-month linear vesting period. More than 77% of votes were cast in favor of the proposal, with 10% opposed and almost 13% abstaining.

“Over the past few years, DeFi’s policy challenges have become more real, more imminent, and more numerous,” DEF said. “DEF has defended DeFi against legislative threats that would require DeFi developers to implement protocol access restrictions or requirements designed for CeFi businesses… Given the constant flow of anti-crypto rules from administrative agencies and some members of Congress, this is not the time to take our foot off the pedal.

A backup proposal suggesting alternative financing plans closed with 33.5% of votes in favor of an allocation of just 300,000 UNI ($2.27 million), followed by 29.6% of votes in favor of one million ‘UNI and 27.6% in favor of a 27.6% allocation. “If the original temporary control of the DeFi Education Fund is successful, then the original temporary control will take priority,” the proposal states.

In March, DEF sued the United States Securities and Exchange Commission (SEC) in an effort to establish legal precedent that parachuted tokens do not include securities investment contracts. The move was intended to protect plans to airdrop tokens to early adopters from SEC regulatory action.

Bitter memories

In July 2021, DEF shook the Uniswap and web3 communities by immediately dumping half of the million UNI tokens it received from Uniswap following a governance vote.

The DEF did not inform in advance of the sales, which sparked reactions from the crypto community. The backlash intensified after reports claimed that DEF committee member Larry Sukernik, sold $50,000 after the organization gave up its chips.

In February, Uniswap began selling its remaining funds every 18 months. plan intended to provide the organization with a financial runway until July 2025. The plan involves quarterly transfers of 125,000 UNI from its multisig account to fund monthly sales.

In its latest proposal, DEF committed to holding the funds for at least 12 months from the date of receipt, in addition to pre-disclosing any sales before disposing of UNI in the future.

DEF said it paid law firms, lobbying organizations and its employees in U.S. dollars, which required the sale of its stakes in UNI.

The finances of the Uniswap Foundation

On May 3, Uniswap Foundationthe non-profit organization founded in August 2022 to support the development of Uniswap, published its financial results for 2023.

The foundation said it held approximately US$45.2 million and stablecoins in addition to 780,000 UNI ($5.9 million) after spending $3.56 million throughout the year . Nearly 70 percent of its non-UNI assets are earmarked for past and future grants, leaving $13.75 million to fund future operations. The Uniswap Foundation said the funds can support its operations until the end of 2025.

A governance proposal published on March 19 estimated that the Uniswap DAO held nearly $6 billion in assets, with the funds primarily comprising UNI. UNI price is down 36%, suggesting that the DAO’s treasury assets are currently worth around $3.85 billion.

Fuente

DeFi

If You Missed BONK and PEPE This Year, This Viral New Crypto Might Be Your Salvation

Published

6 months ago

29 July, 2024

CoinFlix Staff

If You Missed BONK and PEPE This Year, This Viral New Crypto Might Be Your Salvation

Bonk and Pepe appear set to net new investors 10x to 100x returns over the next 12 months. However, cryptocurrencies in the DeFi play-to-earn gaming sector could offer even greater returns. As August approaches, Rollblock is emerging as a standout DeFi play-to-earn gem with the potential to 100x-1000x gains in the fourth quarter and beyond.

The project features an innovative revenue sharing model and exceptional accessibility, attracting players and investors. Additionally, Rollblock’s extensive game library of over 150 titles and enhanced sports betting are further driving excitement for the platform. Cryptocurrency analysts are expecting a sudden surge in demand. 800% a push for Rollblock from the beginning of September.

Bonk remains strong despite market fluctuations

While most well-known cryptocurrencies struggled throughout July, Bonk remained strong. As one of the highest-grossing meme cryptocurrencies of 2024, Bonk rose over 24% in July, while most cryptocurrencies experienced negative fluctuations.

Investors looking to add a relatively safe memecoin to their portfolio should consider Bonk. While Bonk is unlikely to generate explosive gains of 250x to 1,000x from here on out, Bonk could still theoretically provide returns in the 20x to 100x range.

Pepe should see a big rise in the next bull run

Alongside Bonk, Pepe has yet to go through a bull run. This means that there are still substantial gains to be made from Pepe over the next 12 months.

Pepe is down 4% in 30 days, but that shouldn’t worry Pepe investors in 2024. Experts believe Pepe’s best days are still ahead, with crypto analysts predicting a 10x to 50x surge in the next election cycle around November.

In the long term, Pepe could surpass the 100x mark for today’s investors. However, Pepe is a memecoin, and one should exercise caution when investing in purely speculative assets that have no utility.

Rollblock’s Unprecedented Hype Potential Could Push It Past 100x Valuation in Q4

Rollblock is a GambleFi Play-to-Earn token that integrates centralized and decentralized gambling on a single platform. By allowing players to earn rewards through active participation and gameplay, the platform creates a compelling incentive structure that appeals to both casual and competitive players.

With its cutting-edge blockchain technology, Rollblock offers top-notch security that keeps bets and transactions on the platform secure. The platform’s lack of KYC mandates appeals to both users who value anonymity and security.

Rollblock’s revenue sharing model, which allocates up to 30% of casino revenue to RBLK token holders, is a major draw for investors. The model involves burning half of the repurchased tokens and distributing the other half to stakers, increasing the token’s value and encouraging long-term investment.

The platform is also constantly evolving thanks to user feedback which has enabled updates such as the upcoming sports betting feature within the platform’s casino. This addition will complement Rollblock’s extensive game library of over 150 titles, ranging from traditional poker to innovative blockchain-based games.

RBLK is expected to emerge as one of the leading DeFi tokens in 2024. With a price of $0.0172 with impressive growth potential and over 140 million tokens sold recently, Rollblock is on track to enter the top 100 cryptocurrencies by Q4, making today a lucrative time to buy RBLK tokens.

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Fuente

DeFi

Cryptocurrency sector is experiencing ‘most misjudged moment’ since 2020, says venture capitalist Arthur Cheong

Published

6 months ago

29 July, 2024

CoinFlix Staff

Cryptocurrency sector is experiencing ‘most misjudged moment’ since 2020, says venture capitalist Arthur Cheong

Veteran cryptocurrency investor Arthur Cheong believes the digital asset sector offers long-term holders a golden opportunity.

Cheong, the founder of DeFiance Capital, tell His 171,700 followers on social media platform X indicate that he believes decentralized finance (DeFi) is hugely undervalued.

According to Cheong, DeFi projects are innovating at a rapid pace and leaving traditional financial (TradFi) companies in the dust.

“It’s been a long time since I’ve been this excited about the risk/reward and potential upside of DeFi. This is probably the most misjudged moment since the pre-DeFi summer of 2020, with extremely promising prospects.

I see opportunities not only in OG (original) DeFi, but also in some newer projects that are evolving rapidly and growing at a pace that fintech startups will do anything to match.

The veteran investor also believes that crypto is now here to stay following recent launch from the Ethereum spot market (ETH) exchange-traded funds (ETFs) last week.

“Overall, the floodgates are open and there is no turning back. TradFi asset managers will continue to launch new crypto products because, guess what: there is huge demand for them!”

I expect them to launch actively managed crypto ETFs [in the] coming years. ”

Earlier this month, Cheong laid that it might be a bad strategy for cryptocurrencies to seek mass adoption, believing that digital assets are designed to disrupt several key financial sectors.

“I think we should accept that cryptocurrencies may not be suited for mass adoption like Web2, but rather are optimized for some narrow but very high-impact use cases like stateless global money, cross-border payments, and decentralized finance.

Chasing mass adoption of normies may be chasing the wrong Grail from the start.

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