SushiSwap Head Chef Jared Grey has disclosed that the DAO will spend about $5.2 million for its operating costs in 2023, with over 80% of the budget going to salaries. Grey said he was making SushiSwap’s operating cost public, to promote the transparency of the DAO. As I promised in Sunday’s tweet regarding Sushi’s Budget Snapshot…
U.S. District Judge William Orrick has ordered the Commodity Futures Trading Commission (CFTC) to serve its Ooki DAO lawsuit to Tom Bean and Kyle Kistner, who were the original founders of the defunct bZeroX protocol. Ooki DAO is a decentralized trading protocol, founded in 2021 as a successor to bZeroX protocol, which operated a leverage…
Nouns DAO will donate 100 ETH ($123,000) to ZachXBT to fund his investigative journalism, according to a Dec. 8 tweet. Nouns will donate 100 ETH ($123,000) to @zachxbt to fund their investigative journalism. Prop #177 from @noun40__ passed: 180 for, 20 against. pic.twitter.com/7PmlaD2rXE — House of Nouns ⌐◨-◨ (@houseofnouns) December 8, 2022 According to the…
ConstitutionDAO has resurfaced to push through its mission of purchasing the last original printed copy of the U.S. constitution which is set to be auctioned by Sotheby’s on Dec. 13. About a year ago, ConstitutionDAO took the crypto community by storm after it raised nearly $47 million in an attempt to purchase the first printed…
Sushi DAO has unanimously approved a proposal to set up three legal entities in Cayman Island and Panama to manage the affairs of the protocol. Development activities in SushiSwap are managed by its community DAO and the project team. However, the new approval will see three legal entities emerge to run the protocol. Sushi’s new…
External member of the UK Financial Policy Committee Carolyn Wilkins has argued that the current decentralized finance governance structure is more centralized than it claims to be. Carolyn Wilkins in an Oct. 19 speech, said that crypto protocols need to re-examine their decision-making process which is largely “centralized” and adopt best practices to improve their…
Jared Grey, a blockchain consultant and former CEO of EONS, has been appointed as the new Sushi Head Chef following an on-chain vote. Grey received support from 83% of Sushi token holders, with the runner-up, Andy Forman, achieving just 12.5% of the vote. Grey has experience consulting for some of the largest natural mineral miners…
Ooki DAO community members have commenced discussions to explore possible fundraising options to defend their case against the CFTC. The Commodity Futures Trading Commission (CFTC) had on Sept. 27 filed a lawsuit claiming that Ooki DAO’s leverage and margin trading services were illegal. Consequently, voting members of the DAO are considered liable to face sanctions…
Ethereum co-founder Vitalik Buterin laid out arguments to support the view that decentralized autonomous organizations (DAOs) could be more efficient than traditional corporations in the presence of highly decentralized governance models. Ongoing conversations in the crypto community suggest that highly decentralized DAOs have been inefficient. Many are of the view that protocols could become more efficient…
The biggest news in the cryptoverse for Sept. 7 includes Signature Bank seeing outflows in the digital asset banking space totaling $4.27 billion, Ripple’s CBDC initiatives, and Coinbase’s proposal that could generate up to $24 million annual passive income for MakerDAO. CryptoSlate Top Stories Signature Bank suffers $4.27B deposit outflows as crypto uncertainty takes hold…