SushiSwap Head Chef Jared Grey has initiated a proposal to increase the Treasury’s xSUSHI revenue from 10% to 100%. SushiSwap is a decentralized exchange platform that generates revenue from trading fees. Users who stake their SUSHI token, receive xSUSHI, which gives them revenue-sharing rights from the trading fees. xSUHSI holders receive about 0.05% of trading…
Wallstreet banking giant JP Morgan & Chase believes there are significant changes coming to the crypto industry in 2023 in the form of regulation, which will likely cause a convergence between crypto and the traditional financial industry, according to its latest Global Markets Strategy report. Major changes coming to the crypto industry in 2023 pic.twitter.com/qW6cHLyc6N…
The collapse of FTX has severely eroded user trust in centralized crypto exchanges. Most investors have finally realized the importance of owning the keys to their digital assets and have moved record volumes of tokens from exchanges to non-custodial wallets. These events brought about a wave of urgency for centralized exchanges to provide reliable proof…
Crypto asset management firm Ikigai Asset Management is among the companies to get caught up in the FTX collapse as it had a large portion of its assets on the collapsed exchange, according to the firm’s founder and chief investment officer, Travis Kling. Unfortunately, I have some pretty bad news to share. Last week Ikigai…
Confidence in centralized exchanges seems to have reached a new low following the FTX fallout. Trading volumes across all exchanges have experienced a vertical drop over the weekend, as users rush to withdraw their tokens from custodial wallets provided by the platforms. Data analyzed by CryptoSlate showed a drastic drop in Bitcoin’s real trading volume….
Kucoin CEO, Johnny Lyu, has explained in a number of tweets today that Kucoin has been transparent with its users since day one of building the hybrid centralized/decentralized cryptocurrency exchange. From day 1 of building KuCoin, we have been transparent to our users. The overview of some of KuCoin’s hot and cold wallet addresses are…
BNB, issued by the largest exchange by volume, Binance, surged by more than 20% in two hours after Binance CEO. Changpeng Zhao (CZ) announced plans to acquire FTX. Later, however, the BNB price dropped by more than 20% to its current price of $315.9. This afternoon, FTX asked for our help. There is a significant…
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…
Levan Kvirkvelia from on-chain analytics platform Cluster reached out to CryptoSlate to share his findings from analyzing over one hundred “web3 services.” Cluster, which is still in beta, analyzes data from critical blockchain services, including user retention, bot activity, and active user numbers. The platform currently supports Polygon and BNB Chain. The data from Cluster…
The decentralized, permissionless cross-chain platform Axelar and USDC creator Circle have announced the Cross-Chain Transfer Protocol, which looks to revolutionize cross-chain transfers across the crypto industry. Jason Ma from Axelar stated that “we finally have real programmable money.” USDC will be able to be transferred cross-chain without the need for either wrapped tokens or assets being…