Crypto Guides, Knowledge & Insights

Explained: What is MakerDAO? How Does It Work?

MakerDAO is a decentralized, open-source project that operates on the Ethereum blockchain and serves as a foundation for a next-gen financial system based on blockchain technology. It is one of the most popular DeFi applications and provides cryptocurrency lending and borrowing services based on smart contracts. The project operates through a DAO, which is managed by global MKR token holders who use their voting power to make decisions about the Maker ecosystem, such as stability fees and collateral types.　　The main attraction of MakerDAO is its use of Dai, a stablecoin that provides stability against the extreme volatility of cryptocurrencies. By borrowing Dai instead of buying it, investors can access a US dollar-pegged stablecoin without having to sell any ETH, making it a popular choice for yield farming and lending platforms.　　MakerDAO also offers several benefits to its users, such as earning interest on DAI held in the DAOs bank, using cryptocurrencies as collateral to obtain low-interest loans in Dai tokens, and locking ETH deposits to earn newly minted Dai tokens.　　In conclusion, MakerDAO is a decentralized financial platform that provides a stable and secure environment for lending and borrowing cryptocurrencies, offering users a variety of features and benefits to make their crypto

2023-02-11Deep Dive

5 Best IDO Launchpads For Crypto Projects To Explore

IDO Launchpads, also referred to as IDO platforms, are platforms that allow the introduction of new cryptocurrencies and the launch of crypto projects with the aim of increasing their liquidity. They are considered as the future of decentralized finance in the digital world. An IDO (Initial DEX offering) Launchpad is a way for new cryptocurrency projects to gather funds through decentralized exchanges by releasing their IDO tokens.　　Here are the top 5 best IDO Launchpads for crypto projects:　　DAO Maker - Known for its longevity and high standards, DAO Maker is considered one of the most trustworthy IDO launchpad platforms. It operates on the Ethereum platform and democratizes access to new projects through IDO offerings, while also investing in growth technologies and reducing the risks associated with cryptocurrency investing. 　　Red Kite - A new player in the IDO and launchpad market, Red Kite helps investors participate in open token sales for new crypto projects. It uses the PolkaFoundry platforms native token, $PKF, and carefully screens projects to prevent fraud.　　　　GameFi - As one of the largest crypto gaming launchpads, GameFi offers a one-stop shop for game financing. It combines some of the most popular networks to provide the best gaming experience for players

2023-02-11Deep Dive

On the Ethereum Testnet, Aave introduces its native stablecoin.

The creators of the loans and borrowing system by the same name, Aave Companies, are releasing their native stablecoin GHO on the Ethereum Goerli testnet. The stablecoin, called “GO,” is completely decentralized and heavily securitized. Because minting will be performed using used so as security in the Aave Protocol, it is designed to guarantee that the GHO oracle price has always been locked at one in relation to the US dollar. Over-collateralization is a method used by the decentralized lending and borrowing platform Aave to guarantee the security of deposited cash." />　　In this arrangement, borrowers are required to put up more collateral than they borrow, serving as insurance for the lender in the event that they are unable to make good on their loan. By maintaining over-collateralized backing by a diverse range of cryptocurrencies provided by individuals who deposit on Aave, this enables a capital-efficient mechanism to issue stablecoins.　　Stani Kulechov, the founder and CEO of Aave Companies, remarked, “With the support and management of the Aave community, GHOs decentralized stablecoin can power a payment layer that can easily, securely, and efficiently transfer value across DeFi and TradFi ecosystems.” 　　Aave DAO Assumes Control　　Before it is anticipated to become live on the

2023-02-10Deep Dive

Argo Blockchain CEO Steps Down After CFO

Seif El-Bakly will take over as interim CEO of Argo in place of Peter Wall, who will no longer be the companys CEO, Peter Wall, the CEO of Argo Blockchain, the largest bitcoin miner, has stated that he will leave his position. Less than a week ago, Alex Appleton, the companys CFO, left the organization.　　A Second Argo Executive Resigns　　Peter Wall will leave Argo Blockchain after three years as the businesss chief executive officer, the company announced. He referred to his time spent there as a “wonderful privilege” and appreciated all of his coworkers for their support and loyalty.　　“It has been a great privilege to have led Argo Blockchain over the past three years. It has been quite a journey, and we have come a long way. I am pleased to have recently led the successful Galaxy deal, and I thank all my colleagues at Argo for their dedication, support, and enthusiasm in driving Argo forward. Onwards and upwards!” 　　Seif El-Bakly has been named the companys interim CEO, while Matthew Shaw will take over as board chairman. This person added:　　“Peter has created a strong foundation for Argo, which is a confident organization full of talented people, aligned behind a clear strategy

2023-02-10Deep Dive

Exploring the Role of Regenerative Finance (ReFi) in the Cryptocurrency World

Regenerative finance is a concept that is gaining increasing attention in the cryptocurrency world. In this article, well explore the role of regenerative finance (REFI) in the crypto space and why it is an important topic to understand.　　Regenerative finance refers to a financial system that is designed to be regenerative, meaning it not only repairs damage caused by financial practices but also aims to create positive impact on people, planet, and communities. This is in contrast to the traditional finance system that often focuses on maximizing profits, often at the expense of the environment and society.　　In the context of cryptocurrency, REFI can be implemented through the use of decentralized finance (DeFi) protocols and ecosystems that are built on blockchain technology. These protocols allow users to participate in financial transactions and services without the need for intermediaries, creating more transparent, secure, and inclusive financial systems.　　One of the key features of REFI in crypto is the use of tokenized assets, which are digital representations of real-world assets. This allows for greater accessibility and democratization of finance, as well as the creation of new investment opportunities. In addition, REFI in crypto also promotes sustainable and regenerative investment practices, as well as transparency and

2023-02-10Deep Dive

Kraken Is Being Investigated By The SEC For Unregistered Securities Listings

The SEC Is Investigating Kraken　　According to Bloomberg, the inquiry is well underway and might result in a settlement shortly. Neither the regulator nor the bitcoin exchange confirmed the investigation.　　The SEC is on the lookout for cryptocurrencies that may qualify as unregistered securities, as well as platforms that sell them. It has seized many such minor cryptocurrencies, most of which were fraudulent, and is also engaged in a legal battle with Ripple over the classification of XRP coins as unregistered securities.　　According to Krakens website, it provides over 185 cryptocurrencies internationally, many of which may not be available in the United States. It is unclear if the SEC is classifying some of these cryptocurrencies as unregistered securities and pursuing action against cryptocurrency producers.A Significant Cryptocurrency Exchange　　According to Coinmarketcap, Kraken is the third biggest cryptocurrency, processing around $650 million in cryptocurrency deals daily. It is one of the oldest cryptocurrency exchanges, having been founded in 2011. It is headquartered in San Francisco. Any action taken against such a corporation might have repercussions for the whole industry.　　In a separate matter from the current SEC investigation, Kraken paid more than $360,000 in a monetary penalty to the US Treasury Departments Office of Foreign Assets Control

2023-02-10Deep Dive

US SEC Crypto Staking Crackdown Benefits Decentralized Services, Here’s How

According to Bloomberg, decentralized financial protocols such as Lido, Rocket Pool, and StakeWise may benefit from the Securities and Exchange Commissions (SEC) crackdown on crypto staking services.　　However, the decentralized staking mechanism will profit only if the SEC or other regulators do not take comparable regulatory action in the future.　　How Crypto Staking Crackdown To Help Decentralized Services　　Kraken, a U.S.-based cryptocurrency exchange, settled SEC claims of unregistered offer and sale of securities through its staking-as-a-service program on Thursday. The cryptocurrency exchange paid $30 million and agreed to halt service in the United States.　　Many in the DeFi community feel that the autonomous feature is what caused decentralized finance (DeFi) apps to fall outside of regulators guidelines because “no individual profits directly.” People utilize these DeFi apps to trade, lend, and borrow without the necessity of intermediaries by utilizing automated protocols.　　Wave Financials head of decentralized finance, Henry Elder, stated:　　“This is a tremendous boon for decentralized staking platforms like as Lido, Rocket Pool, and StakeWise. Their competitive advantage is an inbuilt resistance to regulatory intervention, which would have been insignificant in the absence of such action.”　　Earning rewards and yields through staking requires locking up crypto tokens on the protocol that helps organize transactions on multiple

2023-02-10Deep Dive

After combating the FTX Contagion, Coin Cloud declares bankruptcy

On January 8, Coin Cloud, a major largest Bitcoin ATM providers in the United States and Brazil, filed for Chapter 11 bankruptcy. The company had suffered a crushing defeat from the crypto winter and the FTX meltdown, leaving it with millions of dollars in debts.　　Coin Cloud somewhere between $50 million and $100 million in assets, which is far more than its debts of roughly 10,000 debtors. The company has chosen to file for bankruptcy as a result of the disparity between assets and obligations. At the time of publication, Coin Cloud owed close to $500 million, with its commitment to FTX via Genesis Global Trading becoming the main reason.　　The Coin Cloud Ordeals Beginnings　　With more than 1100 Bitcoin ATMs installed worldwide, the company was doing well as one of the biggest American owners of digital currency machines. The company hoped to expand its reach to prestigious U.S. retail stores as the cryptocurrency industry started to take off. The COVID pandemic was the time when demand for Bitcoin ATMs soared over Coin Clouds forecasts.　　According to Coin Clouds stats, it runs more than 5,000 automated teller machines in Brazil and the United States. More than 40 cryptocurrencies, including Bitcoin, Litecoin, Dogecoin, Bitcoin Cash,

2023-02-10Deep Dive

Voyager users will require Binance US accounts to receive their funds.

According to court documents, the bankrupt cryptocurrency broker Voyager Digital has proposed a plan for users to reclaim their funds through Binance US.　　The early opt-in period began last week, so Voyager users can continue exchanging data to aid Binance US in opening new accounts or connecting existing ones before resolving claims. In the statement, Voyager and Binance US stated that they anticipated the transaction to finalize and payouts to start in March.　　" />　　However, Binance US warns that because it is unable to create accounts for consumers in jurisdictions where it is not permitted to operate, customers in Hawaii, New York, Texas, and Vermont may have to wait an additional six months.　　　　“To the extent Binance US does not receive the required licensing and/or authorization to operate in the unsupported states within 6 months from the closing of the asset purchase agreement, Voyager will convert the distributions allocable to such customers to cash and will distribute them separately,” Partner Joshua Sussberg of Kirkland s Official Committee of Unsecured Creditors indicated on Twitter last month.　　“Voyager has a relatively high percentage of altcoins, which have underperformed in the market relative to BTC/ETH and stablecoins,” Twitter posts from the creditors committee. “These crypto movements are

2023-02-10Deep Dive

Brave Launches Collaboration with Solana Bringing Functionality for DApps to Mobile

In the past 24 hours, Brave Softwares pricing has increased due to the announcement of support for Solana DApps in a new agreement. According to a tweet from Brave, the wallet will now be equipped to store, transfer, and buy Solana support tokens.　　Brave receives a boost for crypto　　The Solana Foundations Amelia Daly, Head of Partnerships, stated, “User experience can be very fragmented in crypto. The Brave DApp integration is important because it allows for seamless browser-based connections to your favorite Solana programs, and it is optimized for mobile. ”　　Braves CEO and co-founder, Brendan Eich, says:　　“Brave is increasingly the browser of choice for the Web3 world, and with the addition of Solana DApp support on mobile, were expanding that reach to another key group that is seeking fast and friendly ways to use their crypto on the go,”　　The Solana Whales Have Been Active　　Millions of Solana whales have already been migrating in the backgrounds of the upcoming Brave-SOL integration. Significant Solana transactions totaling 7,981,517 SOL, or $184,488,088 across wallets, have been noted by Whale Alerts.　　Solana (SOL) is currently trading on CoinGecko for $23.65. SOLs price went up by 1.5% over the previous day. However, over the previous week, it has gained equivalent

2023-02-10Deep Dive

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