Record DEX Trading in 2023 Q1
Recently, #Coingecko published a report looking at the trading volumes of the decentralised exchanges. What is the DEX's landscape like? Let's find out!💱
In March 2023, decentralised exchanges (DEXs) saw an impressive surge in trading volume, reaching a total spot trading volume of $94.7 billion (a 54.5% growth MoM). This marked a monthly high between 2022 Q4 - 2023 Q1. Over the past six months leading to March 2023, DEXs experienced a growth rate of 104.2%, from $46.4 billion in October 2022. On a quarterly basis, DEXs recorded a total spot trading volume of $216.0 billion in 2023 Q1, representing a 33.4% growth compared to $161.9 billion in 2022 Q1.
In terms of platforms, Uniswap held the largest market share, with 71.7% in March, while Curve came in second with a spot trading volume of $8.5 billion. It's worth noting that Trader Joe was the fastest-growing DEX with an impressive 522.9% QoQ growth rate.
Have you tried a DEX in the past quarter? Let us know in the comments below! 💬
Recently, #Coingecko published a report looking at the trading volumes of the decentralised exchanges. What is the DEX's landscape like? Let's find out!💱
In March 2023, decentralised exchanges (DEXs) saw an impressive surge in trading volume, reaching a total spot trading volume of $94.7 billion (a 54.5% growth MoM). This marked a monthly high between 2022 Q4 - 2023 Q1. Over the past six months leading to March 2023, DEXs experienced a growth rate of 104.2%, from $46.4 billion in October 2022. On a quarterly basis, DEXs recorded a total spot trading volume of $216.0 billion in 2023 Q1, representing a 33.4% growth compared to $161.9 billion in 2022 Q1.
In terms of platforms, Uniswap held the largest market share, with 71.7% in March, while Curve came in second with a spot trading volume of $8.5 billion. It's worth noting that Trader Joe was the fastest-growing DEX with an impressive 522.9% QoQ growth rate.
Have you tried a DEX in the past quarter? Let us know in the comments below! 💬
GM!
Gold prices have surged📈 and are now approaching their all-time high. The fear of 🇺🇸 banking has fueled the 6-month gold rally.
Gold prices have surged📈 and are now approaching their all-time high. The fear of 🇺🇸 banking has fueled the 6-month gold rally.
Governance tokens
Typically, companies are governed by a board of directors or a small group of people with centralised power. However, in the world of DeFi and decentralised autonomous organisations (DAOs), governance tokens are becoming more common and offer a more equitable, decentralised, and transparent approach to control.
Governance tokens allow holders to vote on issues pertaining to the development and operations of a blockchain project, giving decision-making power to the community. These tokens are a crucial aspect of decentralisation and have already contributed to the growth of numerous DeFi and DAO projects. As more projects in the web3, GameFi, and other sectors adopt governance tokens, we can expect to see even more dynamic decentralised ecosystems🌎.
For example, with the $XCAD, Watch2Earn platform📺, holders will have the capability to establish milestones for creators to be rewarded💰. Therefore, governance features can serve as an incentive for content creation in this context.
Typically, companies are governed by a board of directors or a small group of people with centralised power. However, in the world of DeFi and decentralised autonomous organisations (DAOs), governance tokens are becoming more common and offer a more equitable, decentralised, and transparent approach to control.
Governance tokens allow holders to vote on issues pertaining to the development and operations of a blockchain project, giving decision-making power to the community. These tokens are a crucial aspect of decentralisation and have already contributed to the growth of numerous DeFi and DAO projects. As more projects in the web3, GameFi, and other sectors adopt governance tokens, we can expect to see even more dynamic decentralised ecosystems🌎.
For example, with the $XCAD, Watch2Earn platform📺, holders will have the capability to establish milestones for creators to be rewarded💰. Therefore, governance features can serve as an incentive for content creation in this context.
GM!
More than 700 banks in the 🇺🇸 have reported unrealized losses that exceed 50% of their capital.
More than 700 banks in the 🇺🇸 have reported unrealized losses that exceed 50% of their capital.
You are looking for the next big meme coin? Follow our guide!
‼️Disclaimer: Trading meme coins is risky and volatile; most users LOSE money.
https://twitter.com/HouseofChimera/status/1655167632834699264
‼️Disclaimer: Trading meme coins is risky and volatile; most users LOSE money.
https://twitter.com/HouseofChimera/status/1655167632834699264
Twitter
Alpha - Looking for the next big meme coin?
‼️Disclaimer: Trading meme coins is risky and volatile; most users LOSE money.
🔹Step 1: @DEXToolsApp - Discover new trading pairs, and look for meme coins with considerable volume and locked liquidity.
🔸Step…
‼️Disclaimer: Trading meme coins is risky and volatile; most users LOSE money.
🔹Step 1: @DEXToolsApp - Discover new trading pairs, and look for meme coins with considerable volume and locked liquidity.
🔸Step…
Why Governance Tokens and Their Challenges
Governance tokens have great benefits, including mitigating agency issues and enabling decentralised decision-making. Token holders are incentivised to vote and propose ideas, creating active and collaborative communities. However, there are also challenges:
👉The biggest challenge is the "whales"🐳 problem, where a few people hold a large portion of the token supply, potentially skewing the voting process. Fair distribution is essential.
👉Additionally, governance token holders may not always make decisions that benefit the wider community. Some may vote to benefit the founding team and large investors, concentrating power and influence.
Overall, governance tokens are a powerful tool for decentralised decision-making, but careful management is needed to ensure fair distribution and prevent the concentration of power.
If you were a governance token holder, would you be interested in having influence over the project operations?
Share your thoughts!💬
Governance tokens have great benefits, including mitigating agency issues and enabling decentralised decision-making. Token holders are incentivised to vote and propose ideas, creating active and collaborative communities. However, there are also challenges:
👉The biggest challenge is the "whales"🐳 problem, where a few people hold a large portion of the token supply, potentially skewing the voting process. Fair distribution is essential.
👉Additionally, governance token holders may not always make decisions that benefit the wider community. Some may vote to benefit the founding team and large investors, concentrating power and influence.
Overall, governance tokens are a powerful tool for decentralised decision-making, but careful management is needed to ensure fair distribution and prevent the concentration of power.
If you were a governance token holder, would you be interested in having influence over the project operations?
Share your thoughts!💬
GM!
If the US politicians don´t reach an agreement on increasing the debt ceiling on the $31.4tn 🇺🇸 debt in the following weeks, political, financial and economic crises might hit and cause yet another market turmoil.
If the US politicians don´t reach an agreement on increasing the debt ceiling on the $31.4tn 🇺🇸 debt in the following weeks, political, financial and economic crises might hit and cause yet another market turmoil.
Decentralised Autonomous Organisations (DAOs)👥
We briefly mentioned DAOs when discussing governance tokens. But what exactly are they, and how do they work? We'll dive deeply into this exciting topic over the next few days!
Decentralised autonomous organisations (DAOs) are an exciting and innovative way for communities to govern themselves in a fair and transparent manner. By removing the need for central leadership, DAOs can be genuinely democratic and allow every member to have a say in the organisation's future.
DAOs operate on a blockchain, meaning all transactions and decisions are visible and stored securely🔐 on the chain. This makes it difficult for any person or group to manipulate the system for their own benefit. Instead, decisions are made collectively through voting, giving each member an equal say.
DAOs are still a relatively new concept, but they can potentially revolutionise how we think about governance and decision-making. They can be used for various purposes, from managing funds and investments to coordinating community initiatives and projects. As more people become aware of the benefits of decentralised governance, DAOs may continue to grow.
We briefly mentioned DAOs when discussing governance tokens. But what exactly are they, and how do they work? We'll dive deeply into this exciting topic over the next few days!
Decentralised autonomous organisations (DAOs) are an exciting and innovative way for communities to govern themselves in a fair and transparent manner. By removing the need for central leadership, DAOs can be genuinely democratic and allow every member to have a say in the organisation's future.
DAOs operate on a blockchain, meaning all transactions and decisions are visible and stored securely🔐 on the chain. This makes it difficult for any person or group to manipulate the system for their own benefit. Instead, decisions are made collectively through voting, giving each member an equal say.
DAOs are still a relatively new concept, but they can potentially revolutionise how we think about governance and decision-making. They can be used for various purposes, from managing funds and investments to coordinating community initiatives and projects. As more people become aware of the benefits of decentralised governance, DAOs may continue to grow.
GM!
👉Binance🏛 plans to integrate the #Bitcoin lightning network after yesterday´s suspension of $BTC withdrawals.
👉 Bittrex, a cryptocurrency exchange, filed for Chapter 11 bankrupcy.
👉Binance🏛 plans to integrate the #Bitcoin lightning network after yesterday´s suspension of $BTC withdrawals.
👉 Bittrex, a cryptocurrency exchange, filed for Chapter 11 bankrupcy.
Understanding DAOs
DAOs are community-driven entities that operate using smart contracts and blockchain technology. In a DAO, decisions are made based on proposals submitted by community members, and voting power is often proportional to the number of governance tokens held by each member.
📜The rules and transactions of a DAO are transparently stored on the blockchain, and the code is open-source, allowing anyone to review the organisation's operations. DAOs are designed to be decentralised, meaning no single party controls the entity. Instead, the community of participants governs the DAO through consensus rules defined in the protocol.
DAOs often incentivise the members to participate via crypto-economic mechanisms, such as rewards or penalties triggered by smart contracts based on the outcome of members' votes. They can also have treasuries, which hold tokens that members can issue in exchange for fiat, and the community can vote to decide how to use these funds.
Overall, it serves to reach a community goal without trusting each other🤝.
DAOs are community-driven entities that operate using smart contracts and blockchain technology. In a DAO, decisions are made based on proposals submitted by community members, and voting power is often proportional to the number of governance tokens held by each member.
📜The rules and transactions of a DAO are transparently stored on the blockchain, and the code is open-source, allowing anyone to review the organisation's operations. DAOs are designed to be decentralised, meaning no single party controls the entity. Instead, the community of participants governs the DAO through consensus rules defined in the protocol.
DAOs often incentivise the members to participate via crypto-economic mechanisms, such as rewards or penalties triggered by smart contracts based on the outcome of members' votes. They can also have treasuries, which hold tokens that members can issue in exchange for fiat, and the community can vote to decide how to use these funds.
Overall, it serves to reach a community goal without trusting each other🤝.
House Of Chimera
GM! 🇺🇸CPI figures will be announced today at 12:30 PM UTC
Just IN: 🇺🇸 US inflation falls to 4.9%, lower than expectations.
Agency Problem and DAOs
In the realm of finance, agency issues often arise when managers, due to their possession of more informationℹ️ than shareholders, fail to act in their best interests. These conflicts not only create tension within the organisation but also disrupt markets.
One way to address these concerns is through decentralised autonomous organisations (DAOs), which utilise blockchain technology to enable decentralised organisational structures. DAOs that incorporate carefully crafted incentives🌟 can help mitigate agency risks, allowing organisations to align goals more effectively. The transparency of blockchain-recorded transactions ensures that operations remain transparent.
Have you ever considered the idea of a company, university, or any other organisation that doesn't have a central authority governing it? Share your thoughts!💬
In the realm of finance, agency issues often arise when managers, due to their possession of more informationℹ️ than shareholders, fail to act in their best interests. These conflicts not only create tension within the organisation but also disrupt markets.
One way to address these concerns is through decentralised autonomous organisations (DAOs), which utilise blockchain technology to enable decentralised organisational structures. DAOs that incorporate carefully crafted incentives🌟 can help mitigate agency risks, allowing organisations to align goals more effectively. The transparency of blockchain-recorded transactions ensures that operations remain transparent.
Have you ever considered the idea of a company, university, or any other organisation that doesn't have a central authority governing it? Share your thoughts!💬
GM!
🗽 New York proposes legislation to embrace stablecoins for bail payments.
🗽 New York proposes legislation to embrace stablecoins for bail payments.
The Power of DAOs: Why Should You Care?
As you may have noticed DAOs unlock several benefits, such as:
🔹Decentralisation
🔸Transparency
🔹Community👥
Unlike traditional organisations, decisions within a DAO are not made by a central authority but by the collective community. This distributed decision-making process ensures fairness and inclusivity. Further, with every vote and transaction recorded on the blockchain, DAOs promote accountability and trust. Members can verify actions and track the flow of resources, fostering an environment of integrity and discouraging harmful behaviours. Moreover, they thrive on their community-based nature without geographical boundaries. Every member has a voice.
As you may have noticed DAOs unlock several benefits, such as:
🔹Decentralisation
🔸Transparency
🔹Community👥
Unlike traditional organisations, decisions within a DAO are not made by a central authority but by the collective community. This distributed decision-making process ensures fairness and inclusivity. Further, with every vote and transaction recorded on the blockchain, DAOs promote accountability and trust. Members can verify actions and track the flow of resources, fostering an environment of integrity and discouraging harmful behaviours. Moreover, they thrive on their community-based nature without geographical boundaries. Every member has a voice.
GM!
The Bank of England🇬🇧on Thursday raised interest rates to 4.5% by 25bps.
The Bank of England🇬🇧on Thursday raised interest rates to 4.5% by 25bps.
Exploring the Challenges of Decentralised Autonomous Organisations (DAOs)
Previously, we mentioned why to adopt DAOs since they hold immense potential; however, it is essential to recognise their limitations and challenges:
🔹Legal⚖️
🔸Security Risks🔐
🔹No Ultimate Decentralisation
The uncertain regulatory environment is a major hurdle to widespread adoption, as most jurisdictions lack defined approaches to this novel entity.
The desirable properties of DAOs, like decentralisation and trustlessness, also come with risks. They face some vulnerabilities, with a coordinated attack exploiting smart contract loopholes and resulting in fund theft. Security measures and audits are crucial for mitigating such risks.
Decentralisation is not endless, and not all use cases require complete autonomy. Governance rules within DAO protocols can become points of centralisation, potentially limiting open participation and innovation while gaining efficiency.
Despite these limitations, DAOs hold the potential to reshape organisational structures. Collaboration among stakeholders is vital, which is already being recognised in the traditional world, for example, through various ESG initiatives🌍. Legal experts, developers, and communities must work together to address legal uncertainties, enhance security measures, and strike a balance between decentralisation and efficiency.
Previously, we mentioned why to adopt DAOs since they hold immense potential; however, it is essential to recognise their limitations and challenges:
🔹Legal⚖️
🔸Security Risks🔐
🔹No Ultimate Decentralisation
The uncertain regulatory environment is a major hurdle to widespread adoption, as most jurisdictions lack defined approaches to this novel entity.
The desirable properties of DAOs, like decentralisation and trustlessness, also come with risks. They face some vulnerabilities, with a coordinated attack exploiting smart contract loopholes and resulting in fund theft. Security measures and audits are crucial for mitigating such risks.
Decentralisation is not endless, and not all use cases require complete autonomy. Governance rules within DAO protocols can become points of centralisation, potentially limiting open participation and innovation while gaining efficiency.
Despite these limitations, DAOs hold the potential to reshape organisational structures. Collaboration among stakeholders is vital, which is already being recognised in the traditional world, for example, through various ESG initiatives🌍. Legal experts, developers, and communities must work together to address legal uncertainties, enhance security measures, and strike a balance between decentralisation and efficiency.
Applications of Decentralised Autonomous Organisations (DAOs)
Bitcoin is often regarded as the first example of a DAO, but more versatile use cases have emerged.
👉DAOs can be utilised for decentralised venture funds, allowing participants to invest collectively and make decisions without relying on intermediaries.
👉Another prominent application of DAOs is in the realm of social media platforms. Traditional platforms often suffer from centralised control, data privacy concerns, and content manipulation. DAO-based social media platforms can enable community governance, where users have a say in content policies (e.g., $XCAD), moderation mechanisms, and platform development.
👉Further, DAOs can coordinate the operations of devices within the Internet of Things ecosystem. Imagine a DAO managing a network of smart devices such as thermostats and security systems. These devices can autonomously interact, negotiate, and execute tasks based on predefined rules, leveraging blockchain oracles to trigger smart contracts and facilitate seamless operations.
👉A subset of DAOs known as Decentralized Autonomous Corporations (DACs) takes the concept even further. DACs can function as autonomous entities, behaving similarly to traditional companies without centralised governance structures. For instance, a ride-sharing service could operate as a DAC, with self-owned cars🚘 providing services, negotiating fares, and interacting with both humans and other smart devices. The vehicle, acting as an autonomous agent, could even handle maintenance tasks by automatically scheduling visits to the mechanic through smart contracts.
Bitcoin is often regarded as the first example of a DAO, but more versatile use cases have emerged.
👉DAOs can be utilised for decentralised venture funds, allowing participants to invest collectively and make decisions without relying on intermediaries.
👉Another prominent application of DAOs is in the realm of social media platforms. Traditional platforms often suffer from centralised control, data privacy concerns, and content manipulation. DAO-based social media platforms can enable community governance, where users have a say in content policies (e.g., $XCAD), moderation mechanisms, and platform development.
👉Further, DAOs can coordinate the operations of devices within the Internet of Things ecosystem. Imagine a DAO managing a network of smart devices such as thermostats and security systems. These devices can autonomously interact, negotiate, and execute tasks based on predefined rules, leveraging blockchain oracles to trigger smart contracts and facilitate seamless operations.
👉A subset of DAOs known as Decentralized Autonomous Corporations (DACs) takes the concept even further. DACs can function as autonomous entities, behaving similarly to traditional companies without centralised governance structures. For instance, a ride-sharing service could operate as a DAC, with self-owned cars🚘 providing services, negotiating fares, and interacting with both humans and other smart devices. The vehicle, acting as an autonomous agent, could even handle maintenance tasks by automatically scheduling visits to the mechanic through smart contracts.
GM!
The White House🇺🇸 negotiates with Republicans the debt ceiling deal, which starts to take shape as talks intensify.
The White House🇺🇸 negotiates with Republicans the debt ceiling deal, which starts to take shape as talks intensify.