Shiba Inu, a Dogecoin Competitor, is Launching A New Decentralized Autonomous Organization (DAO)
A popular meme crypto project, Shiba Inu (SHIB) is launching its new decentralized autonomous organization (DAO).
The developers of Shiba Inu claim in a recent blog post that DOGGY DAO, SHIB’s new governance system, will be released in two parts.
The first phase, which is stated to go live in the coming days, will allow users to choose between crypto projects and trading pairings on ShibaSwap, SHIB’s decentralized exchange (DEX).
The Shiba Inu’s creators stated:
“DAO 1 is focused on providing immediate power to the community in order to decide which crypto projects and pairs on the ShibaSwap WOOF Pools will be and how the BONE rewards (allocation points) are to be distributed amongst them.”
The ShibaSwap protocol’s governance token is BONE. DOGGY DAO will utilize its staked version, tBONE, to vote.
“In order to cast a vote to list projects, users must stake their BONE (to get tBONE), also distributing their amount of choice to weigh-in and provide to that same pair. The more they weigh-in, the more votes a project achieves, the more added pairing (AP).
South Korea’s Top Presidential Candidate Will Accept Bitcoin and Ether As Campaign Contributions
According to The Korea Times, South Korean politician Lee Jae-myung, who formally became the nominee for the progressive Democratic party in October, will accept Bitcoin and Ether, as well as three additional cryptocurrencies that are yet to be determined by his election committee.
This month, Lee’s cryptocurrency-savvy followers will be able to contribute to the campaign. According to the article, every contributed cryptocurrency would be converted to cash through a local exchange.
Non-fungible tokens are also part of the maverick politician’s cryptocurrency fundraising strategy. Donors to Lee’s campaign will receive an NFT receipt that includes the candidate’s portrait as well as his campaign pledges.
As a result, the former Gyunggi provincial governor became the first presidential contender in history to issue NFTs. Lee’s Bitcoin campaign is part of his effort to attract younger voters.
According to a November study, 40.5% of those aged 20 to 40 had invested in cryptocurrencies.
The Ethereum 2.0 Deposit Contract Hits an All-time High
The entire amount of the deposit in the Ethereum 2.0 Deposit Contract has achieved a new all-time high (ATH) of 8.8 million ETH, according to Glassnode’s on-chain analytics tool. At the same time, the primary asset’s retracement is still ongoing.
As seen in the graph, the value of the assets invested in the deposit contract has risen steadily, with nearly no up or down spikes.
In general, traders may perceive a link between the value of funds put in the contract and the price of Ethereum.
The Ethereum 2.0 network is the next generation of the well-known Ethereum network. The system update is critical to the future of the whole blockchain ecosystem. The significant purpose of the update is to switch from the proof-of-work (PoW) validation protocol to the proof-of-stake (PoS) validation methodology (PoS). Instead of miners validating transactions, validators will be in charge of including transactions in the block. Rewards formerly given to miners will now be given to Ethereum validators. The system upgrade will make the network more “green” by lowering the amount of energy required to generate new coins.
After Artists, Gamers and Gaming Companies Are Increasingly Rising to NFTs
Ankur Diwakar, aged 30; is an Indian professional Esport player who has won over 100 e-sports championships, is enthused about the idea of non-fungible tokens (NFTs) in mainstream games.
NFTs in gaming are no longer restricted to niche blockchain-based games such as Axie Infinity and Decentraland. Mainstream players have been requesting a share of the NFT market in their favorite games; and game companies have begun to comply.
“As kids, we grew up with virtual currencies, spent so many hours completing missions just to acquire some digital assets. It is quite exciting to know that these assets can now be monetized,” he said. Once you sell NFTs, you get a royalty from secondary sales for life. “Also, as a gamer, I can sell things that I collect in games as NFTs and make money through them,” Diwakar explained.
Finance Professor Jeremy Seigel Talks About Bitcoin and Inflation
In an interview with CNBC on Friday; Wharton finance professor Jeremy Siegel predicted several markets that he feels investors should be exposed to this year.
Siegel is the Russell E. Palmer Professor Emeritus of Finance at the University of Pennsylvania’s Wharton School. His research interests include demography, finance, long-run asset returns, and macroeconomics.
He was questioned about gold and commodities as future investments. Noting that gold “has been disappointing;” he emphasized that “it’s a truth that the youthful generation views bitcoin as a substitute” for gold. According to the professor:
Let’s face the fact, I think bitcoin, as an inflation hedge in the minds of many of the younger investors, has replaced gold … Digital coins are the new gold for the millennials.
Old people remember the 1970s,” he continued. “That inflation time, gold soared. This time it is not in favor,” he noted.
Professor Siegel also believes that investors should have exposure to commodities; which he says may be achieved by investing in commodity-sensitive emerging markets.