From calls for the resignation of SEC Chair Gary Gensler to Uniswap's upcoming v4 upgrade, catch up on some of the most relevant DAO and crypto news over the past week.
ApeCoin DAO concludes the second phase of Special Council and Governance Stewards elections
On June 22, members of ApeCoin DAO voted for their preferred candidates for two separate governance proposals - Special Council nominees and Governance Stewards. Five candidates were chosen in each category, who will then slug it out in a final voting round scheduled to end on June 28. Two new candidates will be elected to join ApeCoin’s Special Council, as well as the Governance Stewards.
Congressmen call for the resignation of SEC Chair Gary Gensler
A new wave of excitement hit the crypto industry over the past week following calls for the resignation of Gary Gensler, the current SEC Chairman. U.S. Congressmen Warren Davidson and Tom Emmer initiated the motion, demanding that the position of the chairman be scrapped entirely and replaced with an executive director who could cater to both Republican and Democratic commissioners.
Keep3r Network losses over $200k to hackers
Hackers have continued to exploit loopholes in crypto projects. In yet another case of malicious activity, the decentralized task-based network Keep3r suffered a security breach over the past week, resulting in the loss of 4084 KP3R (about $211k at the time). The hacker was able to gain control of a whitelisted Keep3r v1 job governance because it was a vanity address.
Lens Protocol secures $15M in funding to push social media restructuring plans
Aave’s Lens Protocol recently concluded a $15 million funding round, which could amplify the company’s potential to disrupt the current social media landscape through decentralization. The round saw participation from over 30 VC firms, angel investors, and DAOs, including IDEO CoLab Ventures, Sandeep Nailwal of Polygon Labs, Sébastien Borget of Sandbox, Flamingo DAO, and Punk DAO.
Examining the fatal flaws of direct democracy and liquid democracy in DAOs
Despite the different forms of governance adopted by various decentralized autonomous organizations, it is a known fact that the sector is marred with issues such as voter apathy, hacks, and collusion. In this article, Jyotirmoy Barman explores the fatal flaws of Direct Democracy (DD) and Liquid Democracy (LD) systems, which have been widely used by DAOs.
Pika protocol announces retroactive airdrop for users
Pika protocol is set to airdrop approximately 6.2 million esPIKA tokens to members of its community. About 6.2% of the project’s token supply will be distributed to LPs and traders for all three versions of Pika, including to V2 LPs with loss, and community contributors.
Uniswap reveals plans to launch Uniswap v4; a forward step in decentralization?
Uniswap, a leading player in the decentralized exchange (DEX) market, has revealed plans to launch Uniswap v4. The upcoming upgrade introduces a novel concept called "hooks," contracts that allow users to personalize liquidity pools according to their needs. Developers can also implement dynamic fee structures, on-chain limit orders, and time-weighted average market makers.
- Following a community pool, Loopring DAO will enable support for Telos (TLOS) on its decentralized exchange.
- Friends With Benefits (FWB) DAO has voted to create an Unincorporated Nonprofit Association (UNA) for some operations of the DAO.
- Stargate DAO has agreed to spend its 1.67M ARB token allocation on liquidity mining and partner integrations.