🍣 0xMaki Says He “Won’t be Returning” to SushiSwap Amid Leadership Crisis
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LEAD SushiSwap has been mired in drama recently, with accusations flying, factions reportedly forming in the team and its CTO resigning. One of token holders biggest hopes throughout — as price and volume slips — has been that core developer 0xMaki would return. Those hopes may be dashed.
WON’T RETURN Maki, who stewarded SushiSwap in its early days and left the DEX on Sep. 17, told The Defiant he won’t return full-time to the project.
“I won’t be returning but will be advising/mentoring any individual or group of people who will be leading it for the next years,” the SushiSwap co-founder said over Twitter DM Wednesday.
STEALTH PROJECT Maki said he will begin working full-time in mid-January for a project currently in stealth mode. He is also advising projects like Tokemak, TraderDAO, and PieDAO, among many others.
DIVERSIFYING The Balancer community has begun integrating itself with other decentralized finance protocols by trading its governance tokens for those of other DAOs, also known as treasury swaps.
TREND This could be the start of a larger trend of DAOs taking a more active role in other DAOs, using the strength of their holdings to trade for influence across decentralized finance (DeFi). Holders of Balancer’s governance token, BAL, are considering two proposals now, from mStable and PrimeDAO, following a successful proposal from the algorithmic stablecoin project, Fei, that closed on November 12.
“For now we (BLabs founders/investors) don’t vote to avoid any influence on the community’s opinion. However we are very excited about these swaps that generate long term alignment between other DAOs and ours,” Balancer Founder Fernando Martinelli wrote in the email.
NEWS In a plan that may advance the idea that NFTs are tradable assets, Sudoswap, a marketplace for nonfungible tokens, plans to launch an automated market maker (AMM)-based decentralized exchange for swapping NFTs.
TESTNET In a Dec. 7 tweet thread, Sudoswap developer “0xmons” announced the team is hoping to deploy its AMM to testnet before the end of the year, noting plans for a cross-chain deployment in the future.
BASE LAYER 0xmons describes the forthcoming DEX as a “capital-efficient, gas-optimized base-layer protocol for NFT liquidity” that supports both single and dual-sided liquidity provision.
END-TO-END The team behind Parallel, an NFT-based sci-fi card game, launched an end-to-end encrypted messaging service for Ethereum wallets called inb0x on Dec. 7. The beta version currently supports MetaMask hot wallets only. The developers plan for the protocol to eventually be compatible with any Ethereum wallet using its 0x or Ethereum Name Server (ENS) address.
WEB3 In a Dec. 9 blog post, Parallel describes inb0x a “simple messaging tool built for web3” that allows users to “securely communicate to and from their Ethereum address.”
ENCRYPTED MESSENGER “Users can connect to inb0x with their MetaMask wallet […], chat with the person behind a certain wallet, make offers on NFTs, and more.” The team says an encrypted messenger service offers players of their game “talking strategy” as a core aspect of the experience.
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The EOS community today elected to stop ongoing payments to Block.one — the company that originally designed the network — over claims that it is no longer acting in the network’s best interests.
Keeping track of decentralized autonomous organizations (DAOs) just got a little less painful. Crypto research firm Messari announced Wednesday the launch of “Messari Governor” – a platform for engaging in the governance of many of crypto’s top DAOs.
🔗 Voltz, the Interest Rate Swap AMM, Announces it’s $6m Seed Round Led by Framework Ventures: Medium
Voltz is excited to announce its $6m Seed round, led by Framework Ventures, to bring Interest Rate Swaps to DeFi through a novel Automated Market Maker (AMM) that is up to 3,000 times more capital efficient than alternative models.
Governance enables modern society. Governments decide where to allocate tax income and influence the levers that control the flow of value in our economy.
Today, the chiefs of six cryptocurrency companies will testify before the House Financial Services Committee about the promises and perils of crypto assets.
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🧑💻 ✍️ Stories in The Defiant are written by Brady Dale, Owen Fernau, Samuel Haig, DeFiDad, and yyctrader, and edited by Edward Robinson, yyctrader, and Camila Russo. Videos are produced by Robin Schmidt, Alp Gasimov and Daniel Flynn. Podcast is led by Camila, edited by Alp.
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