No, the token is a governance token for the Swerve protocol. The Swerve protocol is a stablecoin DEX, it charges fees for stablecoin swaps done by users of Swerve. Some of those fees go to the treasury, which is administered by the holders. The value of is not pegged to anything.
Man for the biggest, baddest, boldest Dapps out there – breaking the centralized Interwebz!
That was only temporary their pool is now under 10%. So Swerve decided to distribute 30% of the whole supply in the first two weeks of the project's life, followed by another 30% for the rest of the first year. Naturally, a lot of opportunistic farmers just came for two weeks and dumped the on the other plebes, causing a "death spiral" that seems to be still haunting the project today.
Honestly, all the so-called killers have promised speed and scalability yet all the huge pull remains functional in Ethereum . Network effects are difficult to surmount. I am not sure Solana will end up being much more than another Binance Smart Chain.
It's true it is a hindrance but I doubt Synthetix is stopping. They have a very active community. Check their latest to see what's happening there.
Yes, SUKU published a doc with their Liquidity Mining terms & conditions . However, it is slightly unconventional, with the docs saying it is on Uniswap but then it redirects to SUKUSwap – which seems like a custom Uniswap UI .
This guy has a blog, he essentially writes about all the ways you can lose money on Crypto, (blog is called
rektcodecode). He opened my eyes when he dedicated a whole entry to SBF and Blue Kirby
. Sort of telling he puts side-by-side a well-known anon scammer with someone who is basically portrayed as a very hardworking young CEO, albeit one who doesn't shy from the spotlight and for whom the community has built a certain distrust.
There will be an explosion of bridges and cross-chain liquidity protocols. So these questions are important. Maybe someone from Ren can come to give an answer to your question.
Jeez, that's quite the video collection. Videos are great to learn, not so great when you just watch to search a quick data point for analysis.
Yeah, think NexusMutual wouldn't cover the snafu, even as an individual. The smart contracts were just poorly designed.
It's funny I think Crypto.com is based in Asia – but not sure if from every Asian jurisdiction you can get the card, etc. It's not self-custodian, I believe. I think you also have to hold quite a lot of to get it.
This means some people borrow and go yield farm elsewhere, so a lot of TVL comes from borrowed funds. If one of the big collaterals comes crashing down, then those other DeFi projects will come crashing down hard.
They should just bring NomiChef back. Look at how many projects have forked MasterChef. Unless .... NomiChef is ... 🤯
This is a clever idea, other projects from the ICO days have discussed issuing governance tokens, check out SelfKey .
Serum is built as a collaboration between FTX, the centralized derivatives exchange, and the Solana blockchain, which is also financed by Alameda Research, FTX's holding company.
The team mentions that they were building the oracles for a derivatives exchange, and that once they were done, they knew they had something special and decided to go with the oracles than with the derivatives exchange.
It seems as if is minted via liquidity mining. I would have thought intuitively that in order to fulfill the PowerPool mission, would be minted when other governance tokens (GTs, as they're called in PowerPool) are provided to the protocol. Kind of like a token set.