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Non Transferable Shares

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Non-transferable shares is the new tool to make Defi or DAO accountable. 

Will it work?

Sushi’s new proposal of Meiji Governance Rework will overhaul the previous embarrassment of what Sushi DAO did and transform it into Meiji DAO. 

“The Sushiswap Meiji DAO will supersede all responsibilities currently held by the Sushi DAO. The Meiji DAO will bring governance on chain, and kickstart the Meiji Restoration of Sushi, which will become a new phase of Sushi and a new grand vision to execute on,” the proposal stated.

Meiji DAO proposed the solution of Non-transferable shares to bring back Sushi’s reputation by forcing members to hold tokens forever. 

The idea is to focus on “equality”.

One vote for one member and shares forever lock to prevent rug pull from its member, particularly the founders or management. 

https://forum.sushi.com/t/meiji-governance-rework/11283

Such restructuring came after the Sifu Wonderland rug-pull.

Sifu, an ex-con man, Sushi former CFO, withdrew millions for his own benefits and tanked the established community funds.

https://mirror.xyz/0x8A7f7C5b556B1298a74c0e89df46Eba117A2F6c1/uh6IqKf0T6WqhIy2Bhn2UVDn8wDvHlvCCljDWeuO2LM

Even nowadays, the Sushi community was still hunted by the event.

Sifu is still on the run, but some days, he will be caught. It just matters of time.

Sushi revision is similar to Ethereum 2.0 staking when nodes run with accountability through the insurance policy of 32 Eth to guarantee the operation is authentic. 

I think Sushi’s future is bright and a study case to prevent centralization in the future.

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Crypto Research

Why Ethereum killers are killing themselves

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Ethereum killers are killing themselves!

ChatGPT described the Ethereum killer as:

Ethereum killers refer to other blockchain projects that aim to surpass Ethereum in terms of features and adoption. While there have been many projects that have attempted to do so, Ethereum remains one of the most widely used and well-established blockchain platforms. Additionally, Ethereum is continuously evolving and implementing new upgrades to its network, making it difficult for other projects to truly “kill” it. However, it is important to note that the crypto and blockchain space is highly competitive and constantly evolving, so it’s possible for new projects to gain traction and potentially challenge Ethereum’s dominance in the future.

But they missed several points.

When those killers market themselves are better choices, they forget the on-dock experience that allows developers to transit from one blockchain to another.

There is no way you can ask developers to abandon their existing projects and choose your blockchain with no reason simply it is faster, cheaper, and low fees.

Of course, multi-chain is one way to connect with other blockchains, but it still needs to have security without the chain to be hacked.

It is simply to risky to transfer from one chain to another.

Another factor is scalability.

It is too overrated. With the faster scalability, you are likely to die fast too.

There is no way to build a community with speed and hope people will stay there to root for you.

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Crypto Research

Bitcoin is not efficient

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Bitcoin is not efficient as we thought before.

ChatGPT said that

Bitcoin is considered to be efficient in terms of its ability to facilitate fast and secure transactions without the need for intermediaries. Transactions on the Bitcoin network are verified by a decentralized network of users called “miners,” which eliminates the need for banks or other financial institutions to act as intermediaries. Additionally, the use of blockchain technology, which is the underlying technology of Bitcoin, ensures that transactions are recorded immutably and transparently.

The problem is when Bitcoin becomes hype, and miners increase their energy usage to mine out of Bitcoin, potentially diminishing the return of input energy.

That is likely to make the Bitcoin price plateau and no longer can function as it intends to be.

It is unlikely that when supply is limited, the value of Bitcoin will go infinity. Instead, Bitcoin price will plateau until the mining exhausts out, and transaction fees will increase until people can no longer afford it.

Bitcoin is not a money instrument but to measure opportunities.

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Crypto Research

Crypto whales are secretly dumping

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The bullish trend is up and continuing? No so fast!

ChatGPT defined crypto whale is:

A crypto whale is a term used to describe a person or entity that holds a large amount of cryptocurrency. These individuals or entities can have a significant impact on the market due to their ability to buy or sell large amounts of coins at once. They are also known to have the ability to manipulate the market in their favor.

The market sentiment is too optimistic about the bullish trend, indicating that investors are trying to recover 2022 losses as much as possible before it is too late.

Since institutional investors are hoarding more cashes to prepare the worst, crypto seems work at the best. 

However, whales are more cautious and unlikely to enter large positions until the economic indicators are clear.

The problem is that the market needs to include a critical point that the Fed still needs to do their increasing of the interest rate and dollar weakening is a short-term play.

The market will deteriorate faster than we expect to be. As a result, retail investors have to be very careful in managing their positions in crypto.

Whales are taking profits and patiently wait for another correction to come.

It will get worst before it gets better.

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