Sushi DAO to Set up Defense Legal Defense Fund; Project Receives Unspecified US SEC Subpoena

sushi dao sec subpoenaSushi, the Web3 exchange that pivoted into a decentralized autonomous organization (DAO), is seeking to organize a legal defense fund. If approved, the proposal, which already is available for voting, will put $3 million USDT as part of a fund to defend itself from legal actions against the organization and its members. The organization disclosed […]

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VC Backed Billion-Dollar Stablecoin Project Fei Protocol Falls Below the USD Peg

VC Backed Billion-Dollar Stablecoin Project Fei Protocol Falls Below the USD PegThe new decentralized finance (defi) stablecoin project called Fei had some issues this week after the 1:1 USD pegged token dropped well below its targeted $1 value. The Fei project was supposed to be similar to Maker DAO’s algorithmic DAI stablecoin and it was backed by major venture capital firms. Fei Protocol Market Price Drops […]

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Uncollaterized Power: A Makerdao Governance Vote Was Swayed by a Defi Flash Loan

Uncollaterized Power: A Makerdao Governance Vote Was Swayed by a Defi Flash LoanThe Makerdao and the stablecoin DAI has been a popular project in the decentralized finance (defi) space and it’s also had its share of problems. This week the project called Bprotocol leveraged a defi flash loan in order to sway a Makerdao governance vote. The development team behind the Maker project aims to make it […]

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Yearn Finance Vault Users Lock $139M: Farmers Claim Collateralized ETH Gathers 90% APY

Yearn Finance Vault Users Lock $139M: Farmers Claim Collateralized ETH Gathers 90% APYOn September 3, 2020, the well known Yearn Finance defi project “paused” the popular ethereum liquidity vault (yETH) service, after locking in a significant $139 million. Yearn’s vault feature launched on Wednesday, and saw $100 million deposited on the first day. The vault hype has also caused the Maker DAO project to make a governance […]

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Aave Protocol Outpaces Maker With $1.4B Locked, Defi Project Granted UK Electronic Money License

Aave Protocol Outpaces Maker With $1.4B Locked, Defi Project Granted UK Electronic Money LicenseThe decentralized finance (defi) open-source protocol built on Ethereum, Aave, has surpassed the Maker Dao project in terms of total-value-locked (TVL) this week. The lending and borrowing platform Aave has $1.43 billion locked on Tuesday climbing 7.7% in the last 24-hours. On August 25, the defi project Aave (the Finnish word for ‘ghost’) has seen […]

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Meet Nimbus, a Concept for Enhancing BCH Smart Contracts

An Intro to 'Nimbus'- A Concept That Could Bolster Sophisticated BCH Smart ContractsOn Monday, software developer Tobias Ruck introduced a new transaction version for the BCH chain called Nimbus in a demonstration video. The introduction is a longer version of the presentation Ruck had shown at the Bitcoin Cash City conference. According to the developer, the transaction version could unleash sophisticated smart contract potential on the BCH […]

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Venezuelan Pharmacy Chain Accepts Bitcoin Cash for Medicine and Products

Venezuelan Pharmacy Chain Accepts Bitcoin Cash for Products and MedicineOn August 26, a pharmacy chain in Venezuela called Farmarket revealed it now accepts cryptocurrencies through the payment provider Xpay, a subsidiary of Panda Group. Arley Lozano, Panda Group’s founder, explained how Farmarket’s pharmacy franchise has 22 stores located across the country and machines will allow people to purchase goods and medicine with cryptocurrencies like […]

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