A proposal seeking to temporarily increase the interest rate granted to holders of stablecoin Dai (DAI) was approved by the MakerDAO community on July 27, raising yields for tokenholders to as high as 8%.  The proposal introduced the Enhanced Dai Savings Rate (EDSR), a mechanism that temporarily increases the effective Dai Savings Rate (DSR) available to users. The enhanced mechanism will […]

The crypto market witnessed heightened volatility last week, with most coins observing steep declines. However, today, June 27, the market has registered a slight recovery as most coins posted a few gains, but SOL’s gain is the most notable among all.  Solana’s native token, SOL, recorded over 3% price growth over the past 24 hours, while others, like Bitcoin, barely crossed […]

The Optimism network has surpassed Arbitrum in transaction volume for the first time in six months, according to July 27 data from blockchain analytics platform Artemis. Both networks are layer 2s of Ethereum that use optimistic rollup technology, which compresses and batches transactions before submitting them to Ethereum, potentially lowering transaction fees. Optimism fell behind Arbitrum based on volume in […]

A recent court verdict that Ripple’s XRP is not a security has drawn the ire of U.S. Congressman and crypto skeptic Brad Sherman. Sherman, who is no stranger to controversy among crypto circles, called the ruling “ridiculous”. Rep Sherman Labels Ripple Court Verdict “Ridiculous” A U.S. lawmaker has criticized the Ripple court decision, a stance that will ruffle the feathers […]

Computer-generated nonfungible tokens (NFTs) created by Hungarian artist Vera Molnár in collaboration with Martin Grasser sold out during Sotheby’s Dutch auction for 631 Ether (ETH), or around $1.2 million, in less than one hour.  According to the July 26 announcement, the “Themes and Variation” collection features 500 collectibles via an algorithm combination of 170 color palettes and recursive grids. Auctioneers […]

As regulatory scrutiny continues to circle the wider Web3 ecosystem, cryptocurrency lending platform Nexo will look to leverage training resources, connections and data by joining the Association of Certified Sanctions Specialists (ACSS). The association offers training and certification for sanctions professionals across a variety of industries including financial institutions, international corporations, law firms, public institutions and a host of other […]

Although some consider the second quarter of 2023 a lost quarter, others find that the smart contracts industry remains resilient. Even though the crypto space suffered from lower investments from venture capital firms, developers continue to deploy smart contracts, signaling a growing demand for blockchain-based solutions.  In its Q2 report for 2023, blockchain platform BNB Chain noted an increase in verified smart […]

Digital asset trading platform Securitize has begun tokenizing equity in the Spanish real estate investment trust Mancipi Partners, it announced on June 27. The firm expects to launch secondary trading on the Avalanche blockchain in September.  Securitize plans to carry out the first natively tokenized equity issuance under the European Union’s pilot regime for distributed ledger technology supervised by the […]

Twitter is currently undergoing a rebrand to X after owner Elon Musk grabbed headlines when he announced that the 17-year-old social media platform he acquired in 2022 would have a new name, logo, look and feel on July 24. X will serve as the new name of the social media platform and a broader ecosystem platform that Musk intends to develop. […]