The week was filled with several new project developments and key updates from leading decentralized applications (DApps) and decentralized finance (DeFi) protocols. Fireblocks has expanded its institutional access to Terra’s DeFi ecosystem and Solana partnered with the Notifi network to improve the abysmal participation rates in governance votes. We will also look into the Cointelegraph research into the Terra ecosystem’s future and see if it can sustain the current growth. Samson Mow, the former executive at Blockstream, questions the decentralized aspect of the DeFi ecosystem. Top DeFi tokens saw another week of bearish price action despite several new developments and …

You’ll never have an excuse to miss another governance vote if the decentralized autonomous organization (DAO) calls or texts to badger you to vote. The Notifi Network is banking on this concept to help improve the abysmal participation rates in governance votes. Launching with Solana DAOs, it combines popular centralized methods used by the Web3 community such as Telegram and Discord pings with more traditional, and harder to ignore notifications like phone calls, text messages or emails. Backed by crypto venture capital firms Race Capital and Hashed, on April 24, Notifi applied its notification service to all DAOs that launch …

The traditional finance market (TradFi) is dominated by fixed-rate loans. However, a reliable solution in the decentralized finance (DeFi) space has yet to come about. To bring TradFi portfolio managers into the DeFi industry, the issue of fixed rates needs to be solved. Many DeFi platforms claim to offer stable interest rates, but in reality, assets are so volatile that they might fluctuate from single to double digits and vice versa. This volatility makes it nearly impossible to guarantee reliable long-term earnings or control leverage regardless of whether one is a lender or a borrower. One DeFi protocol, iGain IRS …

Web3 has given rise to a number of innovative business models. In particular, decentralized autonomous organizations (DAOs) have started gaining traction as Web3 and the creator economy comes to fruition. Natalie Salemink, CEO and founder of Prismatic — a tooling and treasury management platform for DAOs — told Cointelegraph that DAOs are internet-native organizations that utilize smart contracts to facilitate coordination and governance in pursuit of a common goal. When it comes to traditional businesses, though, one of the most interesting aspects a DAO structure can provide is leadership based on computer-generated code rather than individual authority. The idea of …

Using cryptocurrencies for employee compensation Several companies have already started paying employees in crypto. There are several advantages to using cryptocurrencies for employee compensation, especially for companies with a global workforce. First, cryptocurrencies are borderless, which means that crypto can be used to pay employees anywhere in the world. Second, they are secure and irreversible, reducing the risk of fraud. Finally, cryptocurrency can be easily converted into local currencies, making them convenient for employees wanting to use them for everyday transactions. As more companies adopt this payment method, the use of cryptocurrencies as employee compensation will likely increase. Access banking …

Lawmakers in Australia want to regulate decentralized autonomous organizations (DAOs). In this three-part series, Oleksii Konashevych discusses the risks of stifling the emerging phenomenon of DAOs and possible solutions. Crypto anarchy is unlikely to be the future that the majority of people support. Company regulation, in its essence, has a lot of positive aspects or at least, a good intention, albeit one often embodied in a red tape that stifles business. Nevertheless, nowadays, corporation rules and regulations are formalized to the extent that they could be put in the machine code. So, the role of the government is to establish …

The Montenegrin government has begun fulfilling its pledge to become a hub for blockchain innovation by reportedly making Ethereum creator Vitalik Buterin its newest citizen. Montenegrin news outlet RTCB reported that Prime Minister Zdravko Krivokapić recommended Buterin receive the privilege to help the southeastern European nation promote its efforts to become a blockchain innovation hub. There does not appear to be an official announcement, however, this photo was reportedly shared by the Minister of Finance and Social Welfare Milojko Spajić when Buterin received his passport. Montenegro hosted the Ethereum (ETH) co-founder on April 7 at the Future Now! panel discussion …

The United Nations Climate Change Conference of November 2021, known as COP26, in Glasgow, Scotland urged the world to commit to curbing contributions to carbon emissions. Achieving a net-zero world in less than 30 years is causing many to turn to blockchain technology, buy carbon offsets, and spark renewed interest in carbon capture. The United Nations Environment Programme (UNEP) has identified transparency, clean energy, carbon markets and climate finance as areas where blockchain technology can accelerate climate action. At the 2017 Paris Summit, the UN Climate Change Secretariat joined a multi-stakeholder group of organizations to establish an open global initiative, …

Lawmakers in Australia want to regulate decentralized autonomous organizations (DAO). In this three-part series, Oleksii Konashevych discusses the risks of stifling the emerging phenomenon of DAOs and possible solutions. Regulating a decentralized autonomous organization (DAO) as a company, first of all, means registration as a company. But who remembers why we need that registry in the first place? Will anyone question whether a blockchain-based DAO needs registration at all? Historically, the government took the role of that trusted third party that, through its public agency — i.e., a registry office — keeps records about a company: who is in charge, …

When asked about wealth inequality, few can say they clearly understand how severe this gap is. For a more precise visual, consider that Elon Musk, reportedly the richest man on Earth, has a network that exceeds the gross domestic products (GDPs) of countries like Portugal, Pakistan and Finland. According to the UN, even a small fraction of his wealth, $6 billion, would save at the very least 42 million people who are on the brink of salvation. Although Musk is just one example, his wealth indicates one thing, a very extreme wealth gap that currently exists, leading many to wonder …

The Royal Melbourne Institute of Technology’s (RMIT) Blockchain Innovation Hub has released a report proposing the implementation of pilot Decentralized Autonomous Organization (DAO), to assist specific precincts in Melbourne’s CBD in recovering from the impacts of the pandemic. The report, which is part of a five-piece series of reports funded by the Victorian Government, details how blockchain technology — specifically DAOs — can be used to help cities like Melbourne recover from a lack of economic activity during the pandemic and to survive into the future with the likely persistence of hybrid working arrangements. Created in consultation with the City …

Nonfungible tokens (NFTs) have generated mainstream interest over the last year. A yearly market report from NonFungible found that the total value of all NFT transactions worldwide surpassed more than $17 billion in 2021, up from $82.5 million in 2020. The report also pointed out that “NFT” was selected as Collins Dictionary’s word of the year for 2021. Given the increasing amount of interest NFTs create, a number of events dedicated entirely to nonfungible tokens are also taking place, attracting a mix of both crypto enthusiasts and non-crypto natives. This was recently seen during NFT LA, a four-day-long conference that …