DeFi Platform Maker DAO Takes Swift Action to Address $3.1B USDC Risk with Emergency Proposal
The crypto market has again met with another stablecoin collapse after UST as investors are rushing to withdraw their funds. Circle, the issuer of USD Coin (USDC), today announced that it faced challenges in withdrawing $3.3 billion from its $40 billion deposits at Silicon Valley Bank (SVB). As a result, it created panic among investors and brought subsequent sell-off, depegging the USDC from $1. The collapse of USDC has forced several firms to take quick action as DeFi platform Maker DAO recently filed an emergency proposal to prevent its DAI stablecoin from dropping further after being negatively impacted by USDC’s depeg.
Maker DAO’s DAI Stablecoin Becomes the Latest Victim After USDC
Maker DAO, the issuer of the DAI stablecoin pegged to the US dollar, has made an urgent executive proposal to address risks to its protocol. As per a forum post on March 11, the company expressed concern about its multiple collaterals being exposed to the “tail risk” of USDC due to the sudden de-pegging of the stablecoin that began today. Maker DAO currently holds over 3.1 billion USDC in collateral supporting its DAI stablecoin.
The proposed Maker DAO emergency plan involves several actions to mitigate risks to its protocol:
- It suggests reducing the debt ceiling of UNIV2USDCETH-A, UNIV2DAIUSDC-A, GUNIV3DAIUSDC1-A, and GUNIV3DAIUSDC2-A liquidity provider collaterals to zero DAI.
- The plan recommends lowering the daily minting limits of its USDC peg stability module from 950 million DAI to 250 million DAI and introducing a 1% fee to prevent the excessive dumping of USDC.
- The daily minting limit of the GUSD stablecoin module may also be reduced from 50 million DAI to 10 million DAI if the proposal is accepted.
Maker Aims to Eliminate Exposure to Curve and Aave
Maker DAO is considering entirely eliminating its exposure to decentralized finance protocols Curve and Aave. According to the company, Curve’s fixed $1 price for USDC presents a risk of insufficient debt accrual and potential bank runs, leading to market insolvency if the USDC’s market price drops significantly below the current collateral factor. Though Aave does not pose such risks, Maker DAO states that its overall risk-reward for depositing funds into the D3M is not advisable under current conditions.
The proposed emergency plan by Maker DAO also includes increasing the protocol’s debt ceiling for the Paxos-issued stablecoin, USDP. The ceiling would be raised from 450 million DAI to 1 billion DAI. The firm said,
“Paxos has relatively stronger reserve assets versus other available centralized stablecoins, consisting primarily of U.S. treasury bills, reverse repurchase agreements collateralized by U.S. treasury bonds. They face relatively lower potential for impairment versus other available stablecoins.”
The proposal has been put forth to the Maker DAO community for voting, and if accepted, it will be implemented immediately. The swift action taken by Maker DAO to address the USDC risk demonstrates its commitment to maintaining the stability of its protocol and ensuring the safety of its users’ funds.
Lido Dao Stabilizes Amidst Volatility, Binance Avoids US scrutiny, while TMS Network Culminates Presale stage 1 early
The year 2023 presents several promising prospects for investors to regain their financial losses. Among the noteworthy ventures garnering attention is TMS Network (TMSN). This project has recently commenced its presale, and has witnessed an unprecedented surge in demand. TMS Network (TMSN) prides itself as having the most cutting-edge decentralized trading hub that serves multiple purposes. However, the question remains if it can hold its ground against established coins such as Lido DAO (LDO) and Binance (BNB). Keep reading to discover more.
Lido Dao (LDO) Stabilizes Amid Volatility
Lido DAO (LDO) is a decentralized platform that offers a secure and reliable solution for staking Ethereum.
Lido DAO (LDO) is a widely recognized liquid staking solution designed to improve the Ethereum blockchain. Lido DAO (LDO) offers users the ability to stake their ETH without any minimum deposits, and without the need to manage infrastructure.
Lido DAO’s native token, LDO, has demonstrated consistent growth since the beginning of 2023.
With the expanding significance of staking in the Ethereum network, and the increasing popularity of decentralized finance (DeFi), Lido DAO (LDO) is well-positioned for continued success, particularly with the upcoming Shanghai upgrade.
Lido DAO’s (LDO) current price is marked at $2.74, and is expected to improve further.
Binance (BNB) Avoids U.S. Scrutiny for Regulated Crypto Exchange
Binance (BNB), a prominent global cryptocurrency exchange, has taken measures to mitigate the risk of facing legal action from US authorities by establishing a US-based entity in 2019, according to the Wall Street Journal.
Since 2020, Binance (BNB) has been under investigation by the Department of Justice and Securities and Exchange Commission regarding its relationship with Binance.US.
According to sources familiar with the matter, subpoenas have been issued in this regard. If the US regulators find that Binance (BNB) has control over its US entity, they may claim the authority to monitor its entire business.
In response to the issue, a Binance (BNB) spokesperson stated in an email to Reuters that they have acknowledged the lack of adequate compliance and controls during the early years. However, they emphasized that the company has undergone significant changes in terms of compliance.
The increasing scrutiny on Binance (BNB) is evident from the recent request by three US senators demanding regulatory compliance and financial information from Binance (BNB) and Binance.US.
As per Reuters, Binance.US was created as an indirect subsidiary to shift the attention of US regulators away from Binance.com.
TMS Network (TMSN) Begins Presale
In the highly competitive world of cryptocurrency, establishing a strong reputation can prove to be a formidable challenge. Nevertheless, TMS Network (TMSN), a decentralized exchange, has succeeded in capturing the attention of investors through its impressive trading solutions. With $2.5 million raised in both public and private funding, TMS Network (TMSN) demonstrates remarkable potential.
The appeal of TMS Network (TMSN) lies in its decentralized structure, which is built on the Ethereum blockchain. This provides users with exceptional security, transparency, and immutability.
Additionally, TMS Network (TMSN) offers competitive trading fees and revenue-sharing rewards that empower traders to maximize their profitability. These features have generated considerable excitement among investors, and makes TMS Network (TMSN) a worthy choice to invest in.
So, here’s the scoop: Lido DAO (LDO), Binance (BNB), and TMS Network (TMSN) are all crypto coins that are turning heads in the blockchain world. Thus, there’s a good chance their value could skyrocket in 2023 and keep climbing after that.
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Curve DAO (CRV) Price Prediction 2023, 2024, 2025, 2026
The crypto sphere had seen astounding growth trajectories in the bygone year. A host of revolutionary projects came into action to offer investment opportunities. Successively, the Curve DAO has been a project that intends to cater to users who are connected with DeFi activities. Like liquidity mining and yield farming.
The platform intends to profit traders who wish to maximize their returns by hodling stablecoins. Are you one of the many who are keen on investing in CRV, but doubtful of its returns? Fear not, as this writeup will illustrate the possible price predictions of the altcoin for 2023 and the years to come.
Market Top Gainer 
Overview
| Cryptocurrency. | Curve DAO. |
| Token. | CRV. |
| Price. | $1.36 |
| Market Cap. | $715,532,291 |
| Trading Volume. | $150,208,613 |
| Circulating Supply. | 526,087,382.80 CRV |
| All-time high. | $60.50, (Aug 14, 2020) |
| All-time low. | $0.3316, (Oct 25, 2020) |
Curve DAO Price Prediction 2023 – 2030
What Is Curve DAO?
The curve network is a Decentralized exchange for stablecoins that employs an automated market Maker Dao (AMM) in order to supervise and manage liquidity. Moreover, the platform intends to offer a convenient way to swap cryptocurrencies without any financial advisory.
Curve DAO is an ERC-20 token deployed on the Ethereum mainnet. The cryptocurrency has been a governance token of the Curve Finance platform. The holders of the token are allowed to vote for any minor or crucial updates to the protocol. However, the traders could lock their CRV token in the Curve locker, and they would be rewarded for staking.
Curve Finance has two primary use cases, staking and swapping cryptocurrencies with the integration of more than 42 distinct liquidity pools. The tokens included in the pool are USDT, DAI, USDC, ETH, WBTC, LINK, and MIM, amongst others.
CRV Price Forecast 2023
If the protocol rises in prominence and works towards growing its user base and volumes, coupled with possible adoptions and collaborations materializing, and manages to carry forward a bullish stance and sees the DAOs flourishing. This could escalate CRV’s price to new heights.
The price of CRV could surge as high as $1.68. On the flip side, bearish trends could drag the price down to $0.79. Successively, an equilibrium in trading pressures might settle the price at $1.23.
| Price Prediction | Potential Low ($) | Average Price ($) | Potential High ($) |
| 2023 | 0.79 | 1.23 | 1.68 |
Curve DAO Price Prediction 2024
Curve DAO could witness a parabolic rise in adoptions and investments. If the crew behind the project employ necessary resolutions to the framework and community-driving events. In such a case CRV holds the potential to catapult to a maximum of $2.59.
In contrast, failing to garner the interests of investors amidst stiff competition, the price might slump down to $1.54. Consequently, the regular price might find its base at $2.06.
| Price Prediction | Potential Low ($) | Average Price ($) | Potential High ($) |
| 2024 | 1.54 | 2.06 | 2.59 |
Curve DAO (CRV) Price Prediction 2025
The massive explosion in DeFi space would confirm the Curve’s vitality in the long term. In addition, if the protocol showcases its longevity with huge profits on large amounts of liquidity.
The CRV price could soar to a maximum price of $3.71. That said, the minimum and average possibilities for the asset would be at $2.38 and $3.04 respectively.
| Price Prediction | Potential Low ($) | Average Price ($) | Potential High ($) |
| 2025 | 2.38 | 3.04 | 3.71 |
Curve DAO Price Prediction 2026 – 2030
| Price Prediction | Potential Low ($) | Average Price ($) | Potential High ($) |
| 2026 | 3.44 | 4.23 | 5.02 |
| 2027 | 4.38 | 5.17 | 5.96 |
| 2028 | 5.07 | 5.81 | 6.55 |
| 2029 | 5.83 | 6.65 | 7.38 |
| 2030 | 6.71 | 7.84 | 8.97 |
Curve DAO Price Forecast 2026: According to our analysts, CRV coin price prediction for the year 2026 could range between $3.44 to $5.02 and the average price of Curve Dao could be around $4.23.
CRV price prediction 2027: According to our analysts, Curve Dao price for the year 2027 could range between $4.38 to $5.96 and the average price of CRV could be around $5.17.
Curve DAO Prediction 2028: According to our analysts, CRV crypto prediction for the year 2028 could range between $5.07 to $6.55 and the average Curve Dao coin price could be around $5.81.
CRV coin price prediction 2029: According to our analysts, Curve Dao’s forecast for the year 2029 could range between $5.83 to $7.38 and the average CRV coin price could be around $6.65.
Curve DAO Price prediction 2030: According to our analysts, CRV predictions for the year 2030 could range between $6.71 to $8.97 and the average Curve Dao price could be around $7.84.
CoinPedia’s CRV Price Prediction
The curve has been one of the revolutionary projects that attempt to offer maximum rewards. By enabling maximum profits without risk by holding non-volatile stablecoins.
According to CoinPedia’s formulated CRV price prediction. If the network introduces new upgrades such as liquidity mining and staking and more related to DeFi. The price may reach a maximum of $1.68 this year. If the network fails to accomplish its plan, then the price would fall into the bearish trap and would dip to $0.79.
What Does The Market Say?
| Firm Name | 2023 | 2024 | 2025 |
| Wallet Investor | $0.0785 | $0.125 | $0.164 |
| priceprediction.net | $1.31 | $1.93 | $2.86 |
| DigitalCoinPrice | $1.90 | $2.31 | $3.16 |
*The aforementioned targets are the average targets set by the respective firms.
Curve Finance is an exchange liquidity platform on the Ethereum blockchain. It is a well-known automated market maker environment that offers an extremely efficient approach to exchanging tangible cryptocurrency assets, maintaining low fees and low slippage by only adapting to liquidity pools built of similarly behaving assets. Curve Finance was founded by Michael Egorov in 2018 and is headquartered in Switzerland.
The platform is designed for swapping stablecoins, enabling investors to avoid more unstable crypto assets, and offers a wide-ranging category of stablecoins such as USDT, DAI, USDC, and BUSD. The platform is primarily used to encourage liquidity providers on their platform and to get as many users as possible engaged in the governance of the protocol.
Curve Finance has already made a large achievement in developing AMM’s decentralized exchange. The Curve Finance DAO will provide assistance in deciding future pool confine changes and estimate weights, which will determine how much CRV is shared for each pool. Curve Finance has recently added cross-chain support for Curve on Fantom and is willing to work on bringing Curve to Polkadot.
Fundamental Analysis
The Curve platform was launched in January 2020. In August 2020, the network introduced a decentralized autonomous organization (DAO), with CRV as its native token. The platform was founded by Russian scientist Micheal Egorov. The founder has accumulated a thorough knowledge in regard to cryptocurrency-related organizations. He is presently serving as the CEO of the platform.
In 2015, the founder put his efforts into building a cryptocurrency business platform called NuCypher. He further gained experience in developing privacy-preserving cryptocurrency infrastructure and protocols. Moreover, he is also the founder of Loancoin, a decentralized bank, and loans network.
Curve Dao Historic Market Sentiments 2020 – 2022
- Curve DAO platform went live in August 2020. Despite the lack of announcements and upgrades, the CRV price managed to trade with positive volatility.
- However, bearish dominance flipped the price to trade around $0.64 for the rest of the year.
- The Curve DAO price had embarked to the year 2021 by oppressing the bearish dominance of late 2020.
- The protocol had soared more than 300% from $0.46 to $3.55 in January.
- However, the Chinese market crash in May depreciated the price action to $1.3. The asset remained range-bound until September.
- The Curve DAO price had kickstarted the quarter with a parabolic move. The asset had managed to traverse in an uptrend line and claimed resistance at $4.7.
- After ranging south to $3.718 until the 22nd of November. A spike in volumes helped the price brush $6.279, by the 25th of November.
- A downswing took the price to $3.438, by the 13th of December. Thereafter, an upswing assisted CRV to close the annual trade at $5.659.
- CRV had entered the year with a price tag of $5.303. The altcoin had initiated a bullish leg-up starting from the first day of the year itself. But the leg-up was short-lived as a downswing escorted the price to its first bottoms at $4.020 by the 10th of January.
- The market-wide sell-offs led to the crypto asset finding support at $2.856 by the 22nd of January. Post a series of accumulations until the 10th of February. Torments in the business dragged the price back to $2.894, by the 12th of February.
- After a short-term rebound to $3.249, a downswing in the business led to the price finding support at $1.962. Thereafter an uptrend led to the first quarter’s trade closure at $2.657.
- The second quarter was a tough sail for the crypto industry, as torrential lashes dragged the assets to multi-month bottoms. CRV lost over 80% of its gains until the 18th of June. Thereafter a spike in volumes helped the digital coin close its trade for the second quarter at $0.715.
FAQs
It can be predicted that it is Profitable to invest in Curve DAO for the long term as it intends to offer stable gains.
The CRV coin is expected to surge to a maximum of $1.68 by the end of 2023.
If the star’s incline in favours of the crypto asset, the price could surge as high as $3.71, by the end of 2025. With a potential surge the price may go as high as $8.97 by the end of 2030.
The All-time High (ATH) of CRV is at $60.50.
Curve DAO (CRV) is available for trade on major crypto exchanges like Binance, Huobi Global, CoinTiger, KuCoin, etc…
Lido DAO (LDO) Price to Face a 41% Decline If Breaches This Level
The price of Lido DAO (LDO) has fluctuated wildly over the past few days amid speculations that the US Securities and Exchange Commission may ban US cryptocurrency firms from offering staking services.
After witnessing a massive spike over the last four days, Lido Dao token is currently trading in the red at $2.57. Over the past 24 hours, the token has decreased by 7.53%. The utility and governance token for the Lido Decentralized Autonomous Organization (DAO), which governs the Lido Ethereum liquid staking protocol, has gained more than 35% in value over the past 30 days and 27% over the previous week.
Over the last few days, the Lido DAO token strengthened, reaching an intraday high of $2.82, despite the momentary and brief decrease. This was due to continued developments in the Lido network.
However, the Lido DAO price has to record a close above the $3 psychological threshold in order to confirm an uptrend. It should be recalled that in August, the price was rejected from this level and then fell 41% to $1.74.
Why was Lido DAO’s price increasing?
The Ethereum network’s Shanghai upgrade, which will enable staked Ether to be withdrawn from liquid staking protocols like Lido, increased interest in Lido DAO this week. The liquid staking protocol Lido is also planning to introduce staking reward withdrawals and better staking infrastructure with the release of the Lido v2 version. This was considered to be another crucial factor that affected Lido DAO coin pricing.
Beyond Multisig: Decentralizing DAO Governance
A DAO is supposed to demonstrate how organizations can be decentralized and autonomous by, among other things, letting the community govern the DAO effectively and democratically. But is that actually happening?
Looking at DeepDAO’s data, out of over 6 million governance token voters among all the DAOs, only 1.7M are active voters. Worse yet, only 81 DAOs (out of nearly 11,000) have more than 10,000 governance token holders. This results in even the biggest DAOs with significant treasuries and functioning products to have only a handful of people govern the DAO. And that’s centralizations. Are there better ways?
Multisig: Gnosis Safe
The most common way to govern a DeFi treasury is by using a multisignature (multisig) wallet where a certain minimum number of signatures are required for a decision to count, e.g. for funds to be released or for a vote to take place (since you can vote via your wallet address in the pseudonymous world of crypto).
Gnosis Safe has emerged as the most popular and trusted such multisig mechanism. While technically sound and backed by a highly-skilled and active team, Gnosis’ actual implementation is often limited to a few individuals within each organization — not the entire DAO member community. And there are hardly any good alternative multisigs on the horizon. Yes, it is understandable that founders want to allow multisig wallet access only to the most trusted individuals, but that does undermine the decentralized and autonomous nature of DAOs.
Rewards
Being signatories to multisig wallets like the Gnosis Safe could be very rewarding since Gnosis rewarded SAFE creators with the GNO token drop and a number of other airdrops could be tied to one being a signatory. But that means that the members not part of the multisig are missing out not only on governance but also on airdrops and other potential rewards. Moreover, control of the wallet is control of the treasury, which makes it instrumental in determining how treasury funds (including dividends from the DAO’s revenue streams) is distributed. In short, access is power.
Quorum
The flipside of a trusted small group of multisig signees is that allowing a pure majority of votes to decide everything tends to lead to populism or control by the biggest token holders (whales) at the expense of the smaller ones.
This can be mitigated by setting quorums of just how big of a turnout is needed for a vote to count, but those are not easy to finetune. It’s so tricky that many current efforts leave many DAO members not qualifying and/or not motivated to participate in governance, i.e. get effectively excluded from the process.
Is there a way forward?
Crypto is a fast-developing field in both technical and organizational implementations. Good tools can be improved and fine-tuned, and new ones are being developed all the time. While there may not be a perfect solution on the market just yet, there are some promising ones coming out soon.
One to keep an eye on is DeXe DAO’s protocol that will allow the creation of a flexible DAO without any coding and with mechanisms for governance that’s inclusive and motivating. DeXe’s protocol allows for layers of voters with different weight and access levels that can be adjusted via on-chain proposals. It offers similar flexibility with quorums, rewards, vote durations, and more. DeXe’s approach seems to be that there is no “perfect” one-size-fits-all solution, but one that can be transparently and easily customized both at the inception of the DAO and down the road is one that can give power to DAOs to reward members properly and motivate them to actively make the DAO better.
In effect, DAO voting is a more scalable version of the multisig wallet. Once that can be done on-chain and with enough flexibility to work for each DAO’s individual situation, that should encourage wider member participation and a more inclusive DAO framework.
Founder Justin Sun Explains TRON’s Unique DAO And DPoS Consensus Mechanism
In 2021, H.E. Justin Sun, Founder of the TRON blockchain, wrote an open letter to the TRON community in which he explained TRON’s transition to becoming a fully decentralized autonomous organization (DAO). According to Sun, the blockchain protocol had become “essentially decentralized” and would rely on community governance from holders of TRON’s native TRX token.
“This marks TRON’s entry into a new era of decentralization. Personally, as an ordinary member of the TRON protocol community, I will continue to support and encourage the development of TRON and its decentralized community. I hope that my TRON community friends will continue to work together and propel the TRON platform into an evermore prosperous, thriving ecology,”
– wrote Sun.
He went on to explain that a cornerstone of TRON’s philosophy has always been to empower users with a secure, decentralized blockchain that respects data privacy, and a DAO is ideally suited for this purpose.
“Unlike centralized platforms, and despite achieving significant success and social impact, we have never curated any user data in the TRON blockchain, nor do we have any right to do so. As the whole world confronts rising social issues caused by big tech data monopolies, TRON’s success in empowering its community is uniquely significant, and we will continue to herald that change.”
Founded in 2017, Justin Sun’s TRON was one of the first platforms to utilize smart contract technology to enable blockchain-based development of a variety of decentralized apps (dApps), distinguishing it from blockchains such as bitcoin’s, which is used exclusively for the exchange of tokens.
TRON was also one of the first blockchains to utilize a proof of stake (PoS) consensus system to validate nodes on its chain, a method that’s become increasingly attractive to crypto and blockchain enthusiasts due to its potential to avoid the high energy consumption associated with proof of work (PoW), the traditional validation system used on the bitcoin blockchain.
The upside of these two features of the TRON blockchain, its smart contract capabilities and PoS validation system, will be crucial to the blockchain’s mainstream adoption and evolution as a fully decentralized protocol.
According to Justin Sun, decentralization is the future of crypto and blockchain technology, and TRON is positioned as a leader in this decentralization effort, due both to its capability to produce the dApps that will power a decentralized Web3 and to its commitment to a DAO grounded in a proof of stake consensus mechanism.
“I’m a big believer in the spirit of DAO,” said Sun in a recent conversation with Jeremy Allaire, CEO of stablecoin developer Circle. “It’s one of the biggest use cases for the blockchain.”
Sun explained that a decentralized, on-chain voting system has the potential to ensure democratic transparency, speculating that the technology could even eventually be used in government elections.
“If everyone voted on blockchain, we would not have disputes in elections, which these days happen very frequently,” said Sun. “We wouldn’t have these kinds of disputes anymore because every transaction, every voting system would be purely on-chain, so it’s fully transparent.”
For now, however, Sun is focused on ensuring TRON’s DAO is as decentralized and democratic as possible, designing a system built to encourage more egalitarian participation in the community through an approach known as delegated proof of stake (DPoS).
How Does TRON’s Delegated Proof of Stake Work?
PoW validation systems require computers to solve complex cryptographic problems to add a block to the blockchain. Once the block is validated, the transactions it contains are immutable and visible to anyone on the chain. The miners who solve the problem and validate the block are rewarded with cryptocurrency, for example, bitcoin.
In a PoS system, blocks are added to the chain using staked assets from holders of on-chain tokens. Validators stake their tokens, making them available for the chain to use to generate the consensus required to validate a block. In exchange for temporarily offering their tokens for this use, validators are rewarded with more crypto.
Proponents of the PoS system argue that the approach is much more sustainable than PoW, which requires computers using massive amounts of electricity throughout the mining process. PoS doesn’t involve mining, and it is thus seen as a more sustainable approach.
In implementing a DPoS system for TRON, Justin Sun sought to build on the basic concept of PoS to create a more democratic, community-driven approach. While traditional PoS systems often enable only users with large amounts of tokens to serve as validators, TRON’s DPoS system implements a democratic voting process to select validators, with any holder of TRX eligible for election by other members of the TRON DAO. TRX holders cast their vote using TRX, with one token equaling one vote, and representatives are elected only after receiving over 100 million votes. Once elected, 27 “super representatives” serve as validators, with elections held to replace the representatives every six hours. Each of the super representatives receives equal compensation for their role.
As Sun explains, this system distributes power more evenly than a traditional PoS, empowering the TRON community as a whole and not only a select few of those who hold the most tokens.
In discussing the early iteration of the system on Twitter in 2019, Sun explained it as a “fair, decentralized distribution of staking revenues, encouraging greater user participation and smoother engagement with staking from more wallets, exchanges, and partners.”
He also noted that it would create “greater voter turnout, along with higher stake ratio across the network, which will bring about a more active community and a more robust network economic system, increasing the lock-up amount from users within the #TRON ecosystem.”
This prediction seems to have come to fruition, with TRON surpassing 4.6 billion network transactions in January 2023 and reaching a total value locked of $9.3 billion and more than 135 million accounts created.
Next Steps for Justin Sun and TRON DAO
Amid TRON’s transition to becoming fully decentralized, H.E. Justin Sun accepted a new role as permanent representative of Grenada to the World Trade Organization. In this role, his goal is to spread the message of the benefits of blockchain technology for the global economy. He’s also been appointed to the global advisory board of Huobi, a crypto exchange that dominated the Chinese market prior to China’s crypto trading ban and that’s now pursuing broader international reach.
TRON has become one of the world’s largest DAOs, with the community working on use cases in areas such as decentralized finance (DeFi), gaming, and stablecoins.
In 2022, TRON launched the USDD stablecoin, and the platform has become one of the largest hosts of stablecoins in the blockchain space. Sun continues to advocate for the benefits of these coins pegged to the value of fiat currencies and designed to protect holders from fluctuating token prices. He sees the stablecoin as foundational to mainstream adoption of crypto as developers continue to build a decentralized ecosystem.
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Snowfall Protocol Stands Out With Its Presale Success While Curve Dao And Hedera Fail To Gain Traction
The crypto market is no stranger to volatility. In the past year, we’ve seen prices skyrocket and then come crashing down.
While this can be frustrating for investors, it also presents opportunities for those who are quick to act. Snowfall Protocol (SNW) is a new entrant into the world of cryptocurrency, and is already making waves. The protocol offers a number of advantages over its competitors, including Curve Dao (CRV) and Hedera (HBAR). In this article, we’ll discuss what those are and why investors are moving away from the other tokens.
Curve Dao’s (CRV) 17 million token short leads to price declines
Curve Dao (CRV) stands out from other decentralised exchanges because it only deals in stablecoins and wrapped cryptocurrencies. Since the beginning of the year, the Curve Dao (CRV) token has fallen dramatically after previously recording a significant increase. Despite recovering from its initial drop following its launch, Curve Dao (CRV) has not returned to its previous high point. On November 4th, Curve Dao (CRV) hit a high of $1.06 but has since fallen back.
The low price of the Curve Dao (CRV) token was $0.40 on November 22. The token has recovered slightly since, pushing CRV to a price of $0.62, at the time of writing. Curve Dao (CRV) price is up 50% in the previous 24 hours but down 30% over the previous month.
An alleged “coordinated attack” on the CRV cryptocurrency has surfaced in recent days. A user whose actions are alleged to involve a short of 17 million Curve Dao (CRV) has garnered attention from crypto enthusiasts, which could be leading to price declines.
Hedera (HBAR) in a downward 2022 spiral
The Hedera (HBAR) price hit a new all-time low of $0.07503 in May, after dropping to $0.1927 in April 2022. The key reasons for Hedera’s (HBAR) decline at the time were the depegging of the UST stablecoin and the collapse of the linked LUNA crypto.
These events rattled the market, sending Hedera (HBAR) prices tumbling. Although prices bounced back somewhat afterward, Hedera’s (HBAR) bear market was confirmed in June when word broke that Celsius Network (CEL), a cryptocurrency lending platform, had suspended withdrawals.
After the FTX (FTT) exchange’s failure caused a market crash, Hedera’s (HBAR) price dropped to its current level of $0.0428 on November 9th. In the medium term, experts’ predictions for the price of Hedera (HBAR) are bearish. By December 24, 2022, Hedera (HBAR) could drop to $0.039037, according to reports.
Snowfall Protocol (SNW) surpasses expectations
Investors are flocking to Snowfall Protocol (SNW), a blockchain solution that focuses on supporting many chains at once. Surpassing the expectations of both bulls and bears, Snowfall Protocol (SNW) saw its value soar by 600% over the course of two months.
Snowfall Protocol’s (SNW) price has increased exponentially from $0.025, at the beginning of the second round of presale, to $0.060 at the token’s current market value. The third round of Snowfall Protocol’s (SNW) presale is projected to see a 250% increase in price, which is now trading at $0.095. In the first phase, 95 million Snowfall Protocol (SNW) tokens were bought.
The second phase sold over 100 million tokens, even before the final deadline. Snowfall Protocol’s (SNW) price is expected to climb further by over 5000% by the time of launch. It’s not too late to invest in Snowfall Protocol (SNW) and reap benefits as the third presale phase starts soon.
Get in while you can and invest in Snowfall Protocol (SNW) today!!!
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Snowfall Protocol enters the DeFi market, giving Lido DAO and Bitcoin Cash a run for their Money!
Snowfall Protocol (SNW) has recently made its debut in the DeFi space and has since been grabbing eyeballs for its incredible performance. Analysts and investors have now started questioning whether Lido (LDO) and Bitcoin Cash (BCH) even stand a chance against this debutante.
Let’s take a closer look at what Lido (LDO), Bitcoin Cash (BCH), and Snowfall Protocol (SNW) bring to the table.
What is Lido DAO (LDO)
Lido DAO (LDO) is designed to be a liquid staking solution for Ethereum, through which users can stake ETH tokens with no minimum deposits or infrastructure maintenance. The staking rewards from these deposits can be used without lock-ups across the DeFi ecosystem. The Lido DAO builds liquid staking services and is responsible for governing the direction of Lido.
The native utility token of Lido DAO is LDO, which is used to grant DAO governance rights, manage fee parameters and distribution, and govern the addition and removal of Lido DAO node operators.
What is Bitcoin Cash (BCH)
Bitcoin Cash (BCH) is a decentralized peer-to-peer electronic cash system that enables swift payments with high transaction capacity (big blocks), privacy, and micro fees. Bitcoin Cash (BCH) blocks can go up to 32 MB, thus ensuring faster and less expensive verification of BCH transactions even as the network keeps growing.
BCH is the native token of the Bitcoin Cash (BCH) system. Users can make Bitcoin Cash (BCH) payments directly from one person to another, just like physical money, but without any interference from centralized payment processors or banks.
What is Snowfall Protocol (SNW)
The Snowfall Protocol (SNW) is a multi-chain interoperability protocol that enables secure cross-chain transactions and asset transfers between blockchains. It is built for fungible and non-fungible tokens. The mission of the Snowfall Protocol (SNW) is to enable simple and secure participation for everyone in the DeFi and cryptocurrency ecosystem.
The Snowfall Protocol dApp allows users to swap assets across EVM and non-EVM compatible chains, thus enabling communication with all blockchains.
The governance token of the Snowfall Protocol is SNW that gives users the right to vote on improvement proposals within the Snowfall DAO. SNW also serves as a utility token, giving users access to fee discounts on snowfall bridges and entry to weekly or monthly raffles.
Which token shows more potential? LDO, BCH, or SNW?
Lido DAO (LDO) reached its all-time high price of $11 on 16th November 2022. Today, a year later, the price of Lido DAO (LDO) has dropped drastically to $1.22—a reflection of the declining interest in Lido DAO’s offerings.
Bitcoin Cash (BCH) reached its all-time high price of $4,355.62 on 20th November 2017. Today, five years since then, the price of BCH has dropped to $102.60.
SNW was launched as the governance and utility token of the Snowfall Protocol, with 95,000,000 SNW tokens available at $0.005 per coin in the first presale stage. SNW increased by 80%, reaching a price point of $0.009 and eventually going as high as $0.015 by the end of the first presale stage.
On 2nd November 2022, SNW entered its second presale stage, selling at $0.025. This success of SNW in the first two stages is predicted to remain consistent in the third (last) stage, too. Based on customer purchasing behavior, the SNW price is expected to touch $0.075 by the end of the token’s last presale stage.
The Snowfall Protocol may be a newcomer in the DeFi space, but the numbers don’t lie!
In contrast to the declining performance of Lido DAO (LDO) and Bitcoin Cash (BCH), the Snowfall Protocol (SNW) is only showing positive growth, both in terms of token price and buyer sentiment. With the price point still affordable and the protocol giving away up to 5 million tokens, now is the best time to buy into the success of the Snowfall Protocol.
Learn more about Snowfall Protocol (SNW):
Website: https://snowfallprotocol.io
Telegram: https://t.me/snowfallcoin
Disclaimer: This is a press release post. Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company.
Aave, Lido DAO and Snowfall Protocol Are Top Gainers!
The world of decentralized finance, or “DeFi” for short, is growing by leaps and bounds. In this ever-expanding landscape, it can be difficult to keep track of all the latest developments. That’s why we’re here to help!
In this blog post, we’ll take a look at three DeFi projects that are trending right now: Aave (AAVE), Lido DAO (LDO), and Snowfall Protocol (SNW). Each of these projects has something unique to offer, so read on to learn more!
DeFi Expert Insights: Aave (AAVE)
Aave (AAVE) is a protocol for lending and borrowing cryptocurrency. As one of the most popular DeFi protocols currently in operation, Aave (AAVE) has built a reputation for being both user-friendly and feature-rich.
One of the most unique features of Aave (AAVE) is that it offers “flash loans”. A flash loan is a type of loan that can be taken out and repaid in a single transaction. This makes flash loans ideal for short-term borrowing or for use in complex arbitrage strategies.
Aave (AAVE) is one of the oldest and most well-established protocols in the DeFi space. It has a strong community of users and developers and is constantly adding new features and improving its platform. If you’re looking to invest in a DeFi platform that has been proven to be effective and user-friendly, Aave (AAVE) is a great option to consider.
DeFi Expert Insights: Lido DAO (LDO)
Lido DAO (LDO) is not as well known as Aave (AAVE) or some of the other major DeFi protocols. However, it is a very interesting project with a lot of potential.
Lido DAO (LDO) is a decentralized autonomous organization (DAO) that is focused on providing liquidity to the DeFi space. Lido DAO (LDO) does this by creating and managing liquidity pools. These liquidity pools are used to provide collateral for loans and other financial transactions.
As a community that builds liquid staking services, Lido DAO (LDO) aims to make it easy for users to earn interest on their crypto assets. Lido DAO (LDO) is a relatively new project, but it has already made a lot of progress. It is one to watch out for in the future!
DeFi Expert Insights: Snowfall Protocol (SNW)
Snowfall Protocol (SNW) is a protocol that allows communication between different blockchains. It is designed to remove technical barriers and allow every user the same ability to engage with their favorite projects. By enabling co-operability for the blockchain industry, decentralized finance (De-Fi)
is brought to a new standard because users will no longer be limited to the features of one blockchain.
The protocol has many use cases, but the most important one is that it enables trustless cross-chain swaps. This means that users will be able to swap assets between different blockchains in a user-friendly manner.
Snowfall Protocol (SNW) is solving what Rome solved. By uniting the world under one protocol, it will make it easier for people to use different blockchains and participate in the DeFi ecosystem.
Within its first few weeks of the presale, due to its unique co-operability model, Snowfall Protocol (SNW) has seen more than a 30% increase in value from buyers. Some experts are saying that Snowfall Protocol (SNW) has the potential to grow exponentially by the time it is launched (5000%).
The price of Snowfall Protocol (SNW) is now $0.015 and other leading analysts are convinced that Snowfall Protocol (SNW) has the potential to increase in value by 1000x. Thus, you must click on the links below to learn more!
Website: https://snowfallprotocol.io
Telegram: https://t.me/snowfallcoin
Presale: https://presale.snowfallprotocol.io
Twitter: https://twitter.com/snowfallcoin
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Passed Burn Proposal Could Send DAO Uniglo.io Straight into Top 100 on Launch
Uniglo’s community has made its first major collective decision by voting to burn all remaining tokens leftover from the launch, a move that will see native token GLO make great gains and has the potential to catapult Uniglo into the top 100. Watch closely, and purchase soon if you are interested in this unique project.
Uniglo.io Burn Proposal Passed
The Uniglo vote on the burn event is the project’s first major democratic decision, certainly not the last for this social currency. Holders can expect to have a say on a wide range of topics, but most importantly, what to buy and hold in the GLO Vault. The Vault is multi-asset backed, meaning it will house not only digital assets like NFTs and cryptocurrency but also real-world treasures like fine art, gold, collectibles, and class cars – anything that typically could be expected to appreciate in value over time. A varied spectrum of assets, therefore, underpins the value of GLO. Users will vote to buy GLO to burn, allowing them to boost the floor price. GLO also benefits from its special Ultra-Burn mechanic, which employs a 2% transaction tax to be burned immediately. The pool of GLO will be ever shrinking at a rate that increases as the token is more widely adopted and used up with trading.
DOGE
Dogecoin is one of those projects that has earned its place in cryptocurrency history, defying naysayers and delivering massive profits back to those who committed early. DOGE reached its all-time high of $0.7 in May 2021 and generally continues to perform well, especially as the favored cryptocurrency of billionaire Elon Musk. DOGE currently sits at number 10 in the top 100.
SHIB
Shiba Inu is another meme-coin that reached the heights of fame and success, enough to rival Dogecoin. Despite humble beginnings as a fun currency, Shiba Inu continues to announce developments like Shibaswap, introducing two new tokens, LEASH, and BONE. SHIB is number 14 on the top 100 listings.
Conclusion
Projects like Dogecoin and Shiba Inu were never expected to take up places in the top 100, yet these protocols defied the odds and remain strong contenders on the market. With this in mind, think about how well a project like Uniglo, with a genuine use case and strong burn system, will perform in the future. Next stop: Top 100. Get involved with presale now while limited allocation lasts.
Learn more:
Join Presale: https://presale.uniglo.io/register
Website: https://uniglo.io
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DeFi Protocol Olympus DAO Hacked! Hackers Drained Over $300K Through Smart Contract Exploit
The crypto sector has brought massive returns since its inception, and it has become the first choice of investment option due to its futuristic vision and revenue potential. However, hackers also seek to make maximum profits out of this industry as loopholes and exploits have grabbed their attention.
Recently, a leading DeFi protocol Olympus DAO has come across a smart contract exploit that enabled fraudsters to steal over $300K from the protocol.
Olympus DAO Faces A Smart Contract Difficulty
According to a security firm Peckshield, a hacker nearly drained over 30,437 OHM tokens (almost $300,000) from the DeFi protocol. Hackers were able to execute such a massive amount by getting a loophole in the network’s smart contract system on the Ethereum blockchain. The hack took place at 1:22 a.m. ET today.
According to Olympus DAO’s officials, the exploit was conducted when a contract on the network failed to authenticate the hacker’s malicious crypto transfer request.
The malware-affected contract was “BondFixedExpiryTeller,” which is used to execute open bonds programmed in the Olympus DAO’s native cryptocurrency OHM tokens. The contract was unable to make a validation input in the “redeem () function,” which enabled the hacker to put his desired input value as funds and trick the network by stealing $300K.
The developing team of Olympus DAO also confirmed the hack through their official discord server and said,
“This morning, an exploit occurred through which the attacker was able to withdraw roughly 30K OHM ($300K) from the OHM bond contract.” However, the team gave some relief as the protocol quickly started their recovery operation, and the rest of the $217 million staked on Olympus DAO was secured. Olympus DAO plans to compensate affected users whose funds got erased.
Olympus DAO is a prominent DeFi protocol, and its governance token is the OHM. The protocol provides the crypto community with digital bonds denominated in OHM tokens. The decentralized autonomous organization (DAO) offers OHM tokens to its investors at a discounted rate, increasing market capitalization over time. The crypto bonds are operated by the protocol’s smart contracts, one of which is exploited today.
Verdict
The crypto winter has wiped out nearly $1.37 trillion worth of crypto from the market since January 2022. While the DeFi industry has shed billions, crypto assets held by decentralized autonomous organizations (DAO) witnessed an immense growth of over 8% since the beginning of this year. Nearly $710 million was added to the DAO sector in the last nine months.
As the crypto sphere continues to be bearish, decentralized autonomous organization (DAO) has become a catalyst in bringing positive vibes to investors. Uniswap takes the first position as it holds nearly $2.4 billion in its treasury. Since the advent of DAOs in 2016, the sector has seen a growth of over 6,025% in USD.
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Mango Markets DAO Approves a $47M Bounty for a Hacker
The post Mango Markets DAO Approves a $47M Bounty for a Hacker appeared first on Coinpedia Fintech News
Following the Oct. 12 Mango Markets attack, the hacker presented a proposal to the project, requesting that it utilize up to $70 million from its treasury to cover certain outstanding debts. He committed to repaying the cash if his stipulations were met.
the project team produced a proposal in an attempt to reach an agreement with the hacker the same day. according to the plan, the hacker will return up to $67M and keep the rest $47M as a bug bounty.
The message to the hacker reads:
“As a demonstration of good faith, you must return the assets other than MNGO, MSOL, USDC, and SOL within 12 hours of the proposal opening.”
Tornado Cash Involved in 2021 DAO Maker Crypto Hack? Know the Truth – Coinpedia – Fintech & Cryptocurreny News Media
According to PeckShield, $500,000 in Dai has been moved through Tornado Cash–a crypto mixer–indicating that it may be the source of stolen tokens from a decentralized finance (Defi) protocol.
In simpler terms, crypto mixers make it more difficult to figure out where a token is going. This makes it harder for anyone to track.
In August 2021, the crypto fundraising platform Dao Maker (not related to Maker DAO) suffered a hack. As a result, $7 million in various stablecoins and ether were lost. on-chain data shows that the funds were sent to two wallets.
One of the cryptocurrency wallets sent about 3800 ether, worth approximately $6.2 million, to Tornado Cash. The other wallet holding the remaining balance remained inactive until today, according to data gleaned from examining blockchain records.
Prior to this incident, Tornado was also used in a laundering scheme where $15 million worth of ether was stolen from Singapore-based Crypto.com.
The frequent connection between ‘Tornado Cash,’ alleged money laundering, and stolen funds has prompted a discussion regarding whether it is guilty of money laundering. The protocol’s creator said that the system isn’t governed by any single entity and is intended to be unstoppable, adding that it was not his intention to support illegal activities.
In August, the US Treasury’s Office of Foreign Assets Control (OFAC) banned Tornado Cash, restricting all US citizens and firms from interacting with it. It’s unclear if this decision was related to the Dao Maker hack.
The US move against Tornado Cash highlights the ongoing debate about whether crypto mixers are helpful or harmful to the ecosystem. On one hand, they can add an extra layer of privacy for users. On the other hand, they can also be used to launder money.
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Lida DAO Poised to Drop 60%, While Bitcoin (BTC) & Cardano (ADA) Can See Minor Rally
A popular crypto trader and analyst are portraying his bearish stance towards one Ethereum-based altcoin as he puts forth his analysis on Bitcoin (BTC) and Cardano (ADA).
The strategist who is anonymously known as Altcoin Sherpa predicts that decentralized autonomous organization (DAO), Lido DAO’s native currency, LDO might see a massive decline of nearly 64% from its present price levels.
Analyst targets Lido DAO to drop around $0.75 once the currency enters bearish momentum.
Currently, LDO is selling at $2.04 after a surge of 4.04% over the last 24hrs.
Bitcoin (BTC)
Next, Altcoin Sherpa talks about Bitcoin and claims $19,000 as the support area for the flagship currency. He also says that this is the level that will push BTC for a stronger bounce.
He then asserts that if Bitcoin price bottoms at the $19,000 area, it will pull along other altcoins by almost 10%.
At the time of publishing, Bitcoin is changing hands at $20,101 with a slight surge of 0.97% in the last 24hrs.
Cardano (ADA)
The strategist, Altcoin Sherpa, wraps up his analysis with Cardano (ADA), another smart contract platform.
He is of the opinion that there might be some accumulation forming as the number of transactions at present is huge. Hence, he claims this to be a mid-term bottom where ADA will fall around $0.30 before raising.
Cardano is now trading at $0.45 following a jump of 2.70% over the last 24hrs.