Most people don’t get rich overnight… Every now and then a new story will emerge of someone throwing $5000 into a random coin and becoming a millionaire in a matter of months. It’s the investing equivalent of winning the lottery. People are able to quit their jobs, follow their dreams, buy a mansion and live happily ever after. That’s the story the news tells, but the reality is much more grim. There are the rare instances where someone actually does make it big off the right investment at the right time into some altcoin with little to no usability or backing behind it, and good for them! They made it…
Uniswap socks-backed tokens reach $92K
185 of the tokens have been burned to redeem the footwear. This could be the most expensive hosiery that the world has ever seen. UPDATE: They’re at $158,000
According to crypto asset market data website CoinGecko, the value of the NFT SOCKS tokens—each backed by a pair of Uniswap-branded socks that can be redeemed for the token—reached an all-time high of $92,763.27 on Feb. 16. At their highest, the 500 SOCKS had a market cap of about $28 million.
Bitwise launches DeFi Crypto Index Fund
Bitwise Asset Management’s new index fund includes nine decentralized finance cryptocurrencies, including Uniswap, Aave, and Maker
The new Bitwise DeFi Crypto Index Fund seeks to take advantage of the rapidly growing DeFi market, which is increasingly seen as a viable alternative to traditional finance, offering peer-to-peer financial services like loans and lending, decentralized exchanges, and derivatives, among others.
Binance has control of Uniswap’s ‘decentralized governance’ system: report
The Uniswap team and Binance could both take control of the DeFi token’s “decentralized governance” system, powered by the UNI token
Uniswap decided to decentralize its protocol governance to compete with the Sushiswap fork, but a new report suggests protocol control will remain centralized for quite a while. Crypto research firm Glassnode suggested in a Sept. 24 report that Uniswap’s governance decentralization will be for appearances only. In the paper, Glassnode explains that Uniswap’s UNI governance token was introduced as an answer to Sushiswap’s SUSHI governance token. The issuance of the decentralized finance (DeFi) token is presumably a measure meant to ensure that the original protocol remains competitive against its newer fork. Still, the report claims that Uniswap’s “transition toward token-based governance via the UNI token falls far short of true…