Tag Archives: DAO

Sony Network Communications (a tech provider under the umbrella of the Sony Group) partnered with Polkadot’s innovation hub – Astar Network – to present a Web3 Incubation Program. Users willing to join can apply until March 6, 2023.  Focusing on NFTs and DAOs  According to a document seen by CryptoPotato, the program will run from mid-March to mid-June, as people can apply from February 17 until March 6. The partners will review the inquiries and approve 10 to 15 users. Sony...

Während andere Banken auf dem Krypto-Markt zurückbleiben, setzt die zweitgrösste japanische Sumitomo Bank, auf Innovation und integriert einen eigenen „Soulbound Token“, um Identitäten zu verifizieren. Obwohl der Kryptomarkt immer noch schwächelt – möchte sich die Sumitomo Bank bahnbrechend im Web3, der neuen Generation des World Wide Web welches auf der Blockchain basiert, etablieren. SMBC Asia hub is located in Centennial Tower in SingaporeFoto CC 4.0 by Heyheywoop,...

Gaming and metaverse DAO giant Merit Circle voted to burn all remaining tokens left in the Community Incentives wallet as a way to reduce the total supply. The project has been carrying out monthly token burns but decided in favor of bulk destruction. A proposal to burn 200 million MC tokens saw an overwhelming number of votes supporting the motion. Out of 232 votes, only three were against the idea. Following the creation of the Community Incentives wallet, 294 million...

The Commodity Futures Trading Commission (CFTC) has filed an enforcement action lawsuit against Ooki DAO, a crypto margin trading and lending platform for engaging in digital asset margin trading that only CFTC-registered Futures Commission Merchants (FCM) can perform.  Ooki DAO also failed to adhere to customer identification requirements prescribed under the Bank Secrecy Act, the commission further alleged in its lawsuit filed in the U.S. District Court for the Northern...

Ethereum co-founder Vitalik Buterin published a lengthy blog post on Monday defending the usefulness of decentralized autonomous organizations (DAOs).  He outlined 3 reasons that DAOs have unique advantages compared to traditional corporations, and will not simply be outcompeted and obsoleted by the latter. Making Better Decisions A DAO is an emerging, blockchain-native, bottom-up governance structure without a centralizing hierarchy or CEO. Instead, the organization’s...

The popular Ethereum wallet “MetaMask” is officially launching its own token, as confirmed by  Consensys CEO Joseph Lubin. The team will also reportedly launch a decentralized autonomous organization (DAO) for funding the wallet’s growth. MetaMask competes with other self-custodial wallets like MyEtherWallet and Coinbase Wallet for interacting with web 3. Individuals and institutions can use the wallet to use Ethereum and other smart contract chains for minting NFTs,...

Dedicated to restoring Assange’s freedom, AssangeDAO started its fundraising on February 3. Less than a week later, it has concluded its efforts after managing to rake in 17,422 Ether from 10,000 users. Helping Embattled WikiLeaks Founder Julian Assange The newly-formed AssangeDAO’s mission was to raise enough funds to help free Julian Assange. It aimed to acquire ETH in return for the JUSTICE governance token to bid on a 1/1 NFT. The NFT in question was made by well-known...

Decentralized Autonomous Organizations (DAOs) are a form of governance systems powered by their community. They can be independent of third parties, and government corporations and they also differ a lot in their business and organizational model from traditional organizations. Quick Navigation What is a DAO? In light of the above, we can pinpoint the following characteristics of a DAO: Non-hierarchical system: As the name suggests, DAOs are decentralized systems owned and...