Tether CTO Paolo Ardoino has suggested that cryptocurrency exchanges that have profited significantly from Bitcoin should consider reinvesting a portion of their earnings in the digital asset. He cited Bitfinex as an example of an exchange that has invested in the Bitcoin ecosystem, particularly in technologies like the Lightning Network and RGB.

This #proposal aligns with the #idea of supporting and contributing to the broader cryptocurrency ecosystem, particularly Bitcoin, which is the foundational cryptocurrency for many other projects and #technologies in the space. Such investments can help advance the #development and adoption of #Bitcoin-related technologies, ultimately benefiting the entire crypto community.

$USDC $TUSD $FDUSD

- Gryphon Digital, a crypto mining company, is attempting to dismiss a lawsuit filed by former partner Sphere 3D.

- Sphere #3D had accused Gryphon CEO Rob Chang of transferring 26 BTC (valued at about $500,000) to a scammer's address in a #fraudulent attack.

- The lawsuit claims #Gryphon failed to prioritize the partnership's best interests.

- Sphere 3D is seeking more than $75,000 in compensation for the incident, filed in April.

- Gryphon aims to have the lawsuit dismissed, contesting the allegations.

- After a #proposal to decrease Maker's #DSR (Dai Savings Rate) from 8% to 5%, notable investors like Justin Sun withdrew from the DSR pool.

- Sun redeemed 206 million DAI from the pool, repaid the DAI, and redeemed 235,556 wstETH collateral.

- Over a 9-day period, Sun profited 257,000 DAI from his DSR investment, subsequently purchasing 154 ETH with the profits.

$FDUSD

The voting for $APE proposal partnership with Redacted, a Formula One Team is now LIVE 🙆‍♀️🏎️

#apecoin #proposal #formula1 #TrendingTopic

- #Aave community is #voting on a proposal titled "Treasury Management - Migration from Avalanche v2 to v3."

- The voting window is set to close on August 12th at 03:14.

- The #proposal currently enjoys strong support with a 99.99% approval rate and the required number of participants.

- If passed, the proposal will result in withdrawing about $4.58 million from Aave #DAO funds in Aave v2 #Avalanche and depositing them into Aave v3 Avalanche.

$AAVE $AVAX $BNB

🌖 Final Upgrade Proposal Of Terra

The TFL’s governance proposal, known as #proposal 4818, started on August 22 and the voting will end on August 29. It aims to upgrade Terra’s mainnet to version 2.12.4. Notably, this move comes as TFL said that it is winding down its operation following an SEC settlement and implementation of its Chapter 11 plan.

This upgrade, if approved, will mark the final development by TFL. In other words, the TFL will no longer support future chain updates, and the blockchain’s future will be left in the hands of community-driven initiatives like the #Phoenix Directive.

Meanwhile, one of the major aspects of this upgrade is the enforcement of a 5% minimum commission rate for validators. This follows a previous governance decision under proposal 4803, which established the global minimum commission rate. Notably, the upgrade will ensure that all the current and new validators follow this rate, which would help in enhancing the network’s integrity.

However, the most notable change, which is already gaining traction, is the burning of TFL’s $LUNA holdings. TFL aims to burn #LUNA✅ that it had in its possession, complying with the bankruptcy court order. This would include assets locked in a vesting contract, which will be burned directly following the upgrade.

In addition, the TFL plans to address the issue of compromised wallets and illegally minted #assets from the IBC exploit. It will help ensure that the assets are permanently removed from circulation, reflecting a step towards users’ safety and transparency.

Meanwhile, the removal of the blacklist functionality is another significant change with the upgrade. It which was initially implemented to prevent further withdrawals by the IBC attackers.
#DOGSONBINANCE