DAO

gonzaloetjo

>They followed SEC guidelines established after the DAO, and have talked actively to make those change: > >https://medium.com/web3foundation/less-trust-more-truth-polkadots-native-token-dot-has-morphed-and-is-not-a-security-b2a8847a70cc What did it require? \- In April 2019, the SEC's FinHub published a framework for the analysis of digital assets, Polkadot tried to follow this. \- The Web3 Foundation engaged in open dialogue with the SEC for three years, \- Bring REAL on-chain governance. Decentralized governance mechanism and on-chain treasury were launched, \- Add executable code into the protocol itself.

gonzaloetjo

There's a reason Polkadot isn't mentioned, even after they declared that they are not longer a security. They followed SEC guidelines established after the DAO, and have talked actively to make those change: https://medium.com/web3foundation/less-trust-more-truth-polkadots-native-token-dot-has-morphed-and-is-not-a-security-b2a8847a70cc

willemul

Russia just created a state owned crypto, El Salvador is buying BTC, so yea, not all governments are cracking down on crypto. Crypto is gradually evolving the global system and with cryptos that that provide convenient access to investments that is crypto oriented using DAO-managed treasury and also the ones that provide privacy for users are top of the list.

Designer_Restaurant1

Shopx😏 now I don't even recognise the project, which is a good thing since they rebranded into something and didn't just cave in and die. Hopefully, there can still be ways to take advantage of it through Common Wealth DAO, connecting the Kyle Chasse links😌. My crypto cemetery is filled with shitcoins that were once talk of the the town, from safemoon to safemars, dogezilla, minifootball, feg and others. My moonbags entered the ground instead.

Designer_Restaurant1

Daytrading, Airdrop hunting, crypto jobs (community management, moderation). Or just go with staking, farming, defi has slowed down now though. Alternatively, you can find investments that pay off monthly, this isn't too popular but happens, especially when you're part of an investment group. In which case, if you want to explore it, I'll advise you check out Common Wealth DAO, or MH Ventures.

SadDifficulty7559

I'm going to keep using Conscious DAO

KallistiOW

Our first live DEX is tapswap.cash, where the BCH Guru, BitCat Heroes, and Emerald DAO NFTs are traded. The Emerald DAO is interesting since it gives you a "keycard NFT" that lets you access the funds you lock up + a little extra after May 15, 2024 if you burn the NFT, or you can keep it as a collectible. And BCH Guru is working on an on-chain prediction game that has something to do with their NFT collection. Very interesting and promising! More stuff is in the works. Unfortunately, since our community is small (but regrowing) and broke (hopefully our building can help the price!) progress is slow... but actually has been going a bit faster than expected, Tapswap came out just a few days after the upgrade :) Lots of stuff being built right now but we can't just copy/paste EVM stuff since we're breaking new ground with the UTXO model.

crua9

>That seems like a huge security risk. No more of a security risk than a document. No we're not talking about seed phrases or passcodes or anything like that being on the document. That's just stupid because chances are the people who need it won't know to not share that before they do their own research. >Also not everything has to be solved with AI just because everyone is talking about it. Just a heads up, I've kind of been in this space for a long long time. Like, I used to make YouTube videos regularly on technology. And one of the more popular videos that I made was from 5 years ago talking about AI. Also you don't know what you're talking about. They literally would have to read an entire book to get a good understanding. If we're talking about people whose someone already in crypto. Then that's one thing but we're not. The average person simply is not technical enough to even understand how a ethereum address can be the same as ones on other chains. Wife the more you are into crypto and the technology itself like Web3, DAO, and so on. The higher likeliness you are on a good number of chains. And there's a high likely that it's hard for you to even keep up with what you have. So how they hell do you expect average people to figure this stuff out without basically needing a mini degree in it? Beyond that, something I've seen in farms and other places where you have a business inherited. The person that comes after tends to struggle massively. Even if there is documentation. It's a pain because they got to find exactly where in the documentation or talks about given problem. Which means they have to memorize the entire thing or by luck come across the proper thing when the given problem happens. We're in this case they can simply say the problem, and AI will try to guide them through the problem.

Nostalg33k

Every buzz word will be used in the crypto space to provide empty marketing for scams. But each those are different techs. Now we could see an ai using decentralized processing power and rewarding people providing the processing power with a token. This token would be used hy people using the AI to pay the DAO and reward people. . I don't have enough time or knowledge to pursue this but AI could rely on Web3 to continue to develop itself. After all, BTC mining is a decentralized processing power working as a network.

Beerclawsky11

People’s DAO is building beautifully for the future!!

CipherScarlatti

"Qualities?" There're all using the same White paper, using the same tech with the same structure. (Non-profit Foundation, voting, NFTs, DAO, the term 'Tokenomics', and a ton of other buzzwords)

coinfeeds-bot

tldr; A proposed Uniswap V3 fee switch that had seen popular support failed to pass due to a split vote scenario in a DAO community poll. The vote in support of fees was split between a range of options, pitted against a singular "no fee" vote. The proposal had shown "pretty broad base support," but failed by a "relatively slim margin." The vote was structured incorrectly, and there should have been two separate polls, one for a yes or no fee switch and the other for determining the fee size. The legal and tax implications of turning on the fee switch right now are massive, and it is not the right time to switch fees on anyway. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

Scoob8877

There are such things already out there. I made a small purchase recently via Lofty.ai just to try it out. The properties are owned by a DAO LLC, and your ownership in the LLC is on the blockchain. Lofty uses Algorand.

Nostalg33k

A DAO could "hire" you for a specific job BUT true employment is centralized with laws, rights... So of course centralized org such as traditionnal companies are not going to off source without a legal framework to do it.

coinfeeds-bot

tldr; Losses from rug pulls and scams in the crypto world outpaced DeFi exploits in May, with over $45 million lost to exit scams and only $19.7 million lost to 10 attacks on DeFi protocols, according to a report from Beosin. Meanwhile, Uniswap DAO rejected a proposal to charge liquidity provider fees, Jimbos Protocol offered a bounty to the public to catch a hacker, the Fantom network started paying developers to generate gas fees, and PancakeSwap entered the GameFi space with a new tower-defense game. The top 100 DeFi tokens had a bullish last week of May, with the total value locked in DeFi protocols rising above $50 billion again. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

Designer_Restaurant1

Liquidity always rotates into newer projects more, so I'm positioning myself to catch them early. Hoping to get VC insights on All Street😁. It will be interesting seeing how the DAO plays out, I am optimistic.

Designer_Restaurant1

This should be a strategy anyone who cares about long term should be adopting. I do basic DCA without paying mind to prices. Another strategy that works every bull run is ICOs/IDOs. Basically, investing in New projects pre-launch. It was a struggle then trying to be on every launchpad, now I just join common wealth DAO and let the experts do their thing.

Knotley-Hunt-Brick

The problems with alts is there are so many factors that are out of your control. Bad and shady team ? Ridiculous inflation ? VC dumping ? Founders getting rich ? Stupid DAO? you name it. They got it.

coinfeeds-bot

tldr; The Uniswap Decentralized Autonomous Organization (DAO) rejected a proposal to charge liquidity providers a fee for using the exchange, potentially allowing them to continue earning all revenue from swaps. The proposal narrowly missed being passed, with 45.32% of votes going to the “no fee” camp and 42.34% voting to charge liquidity providers 1/5 of the fees they receive from users. Opponents of the proposal argued that charging a fee would cause tax and regulatory headaches for UNI holders. The vote was a “temperature check” or non-binding preliminary ballot; further refinements may be offered in the future as discussion continues. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

nzubemush

PAID, Kyle Chasse had a great time with it and majority of the Master Ventures investment last bull run. Never stopped being active, now part of Common Wealth DAO. I predict a recovery for PAID as well as a good run for WLTH. Can't deny they know how to do it in a bull run.

Nostalg33k

This is one of the best vote I have ever seen in a DAO. They could have vote to gain more crypto BUT decided against it for the future of the company as long ad they have not created a road map to manage the funds they'd receive as fees that would take into account taxation in multiple jurisdiction. This is good and I want to take a look at UNI now to Mayne invest in this DAO !

Wide_big_tall

Yes if the proposal contract can self destruct The vulnerability is the fact DAO participants are misled into approving such scam contract not the DAO itself

Wide_big_tall

Yes if the proposal contract can self destruct The vulnerability is the fact DAO participants are misled into approving such scam contract not the DAO itself

yester_philippines

I’m wondering how the attacker managed to include a self-destruct in the proposal contract without raising any red flags Does this mean that every DAO is vulnerable to such an attack?

N7DJN8939SWK3

I will elevate your proposal. [Lofty.ai](https://www.lofty.ai) is blockchain based real estate investing. You each property operates as a DAO on policies such as eviction and fund replenishments. You can own a ton of different partial properties and shield yourself from some risks like vacancy or rent non payment.

nomorebonks

I said a companies value that builds on top of ICP has nothing to do with the price action of ICP. A project that creates a popular dApp/website built on top of ICP and launched as a DAO could skyrocket completely independent of ICP. Or companies may just want infra built on ICP for the security of building on chain. That's not going to drop their company value if ICP has bad price action. Users probably wouldn't even know their using blockchain. You probably just don't know what ICP is like I said. I get it.

silentjxhn

'DAO Jones' I thought for sure would take off.

Corp-Por

Decred has fallen quite a lot, it's not even in the top 100 anymore. It is the true DAO, one of the original DAOs, with "coin voting" it allows stakeholders to direct the project and add any features desired. So far, Privacy has been added (coinshuffle++), a true atomic swap p2p DEX (that facilitates even atomic swaps between NATIVE bitcoin and stablecoins), and Bison Relay which is a decentralized social media / with MARKETS built in (could it be the next Silk Road?), it has LIGHTNING network built in, it is super easy to tip people there, it is kinda like what Elon Musk is building with his "EverythingApp" but a cypherpunk version of it (still in beta, but you can test it) Decred was build by OG Bitcoin devs and is silently building a whole ecosystem which is fully decentralized and antifragile. The amount of tech consistently delivered by the project is really top notch. But it's a project that builds quietly and doesn't hype its releases

Due_Character7533

1. If you look into the project you'll understand where the blockchain element comes in and why it's a vital component. Firstly the data of a hyper realistic 3D scan of your body is incredibly sensitive, especially in the coming age of AI. Ownership rights to prove your rights to the data are minted on the blockchain as an NFT which then allows one to monetise and trade those rights using an nft marketplace where transactions/renting of scan data is all transacted using the native token. Beyond that there is also various other benefits to holding the token from voting rights on various key decisions from future scanner locations to choosing how 10% of revenue is distributed, discounts and early access to services, priority listings, digital and real world item drops to DAO members etc. etc. 2. So Its now a red flag to mention credible companies that the owners of the projects have worked for? Would you prefer I suggested undoxxed teams without a decade of history working in their field instead? the company behind the project has quite literally scanned CDPR staff into triple-A video game title in Cyberpunk 2077.And are now commercialising this tech to the general public for the first time. I think that's pretty relevant information for certifying the legitimacy of a projects team, on a post asking for information on projects continuing to develop in a bear market . Only on Reddit cc would this be interpreted as a red flag (?!)

GoodSamoSamo

Fair criticism, but if you look into the outages no other chain could have handled the same traffic (ex. the recent outage that was from a validator client bug). Every chain has had its issues, such as Ethereum’s DAO hack + hardfork and outrageous tx fees that has priced out the vast majority of people. Fortunately for Solana, the issues that caused outages in the past have been resolved and better days are ahead. Nonetheless, would urge people to take a look into Solana. This is coming from a former ETH maxi who debated with BTC maxis endlessly from 2016-2020.

pojut

I was in the thick of the DAO/APY wars in late 2021, and in one project I was generating like $250 every 8 hours. I took $600 and turned it into $3k in about a week. I didn't take any profits along the way. I think you can see where this is going. I told myself "OK, I'm going to wait for one more epoch to cycle, and then I'm going to sell it all." Yeah. In between me telling myself that and checking how things were going again, the price completely crashed, and I was left with $200.

coinfeeds-bot

tldr; Ukraine DAO's "Co-producers" have been accused of misappropriating at least $500,000–$700,000 of funds. The project was backed by a Dubai-registered company called "Illuminart", which played on confusion between its name and that of Universal Studios' Universal Studios subsidiary Illumination. The company's business license has expired, and the project website has gone offline. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

LIGHTLY_SEARED_ANUS

You're thinking of ETHW. ETC is what ETH forked from to undo the DAO hack, and serves as a reminder of ETH's mutability.

kers2000

A lot of the supply is assigned to the DAO and the hope is that in the future part of the fees will be converted or paid in ARB. There are a lot more transactions and fees paid on Arbitrum than polygon and solana combined.

Designer_Restaurant1

Many people can't even capable of DYOR. They jump into everything shilled and complain when it goes bad. Instead of gambling all the time, maybe join the experts in common wealth DAO 🤷🏽‍♂️, some of which run successful VCs most notably Master Ventures.

cerebralsexer

Government DAO

coinfeeds-bot

tldr; Ukraine DAO's "Co-producers" have been accused of misappropriating at least $500,000–$700,000 of funds. The project was backed by a Dubai-registered company called "Illuminart", which played on confusion between its name and that of Universal Studios' Universal Studios subsidiary Illumination. The company's business license has expired, and the project website has gone offline. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

Gr8WallofChinatown

30%++ of the 3b supply curv which at release sold for over 10usd per coin. Totally not a security it’s just a DAO used for voting /s

ArjanaEU

How is this even remotely suspicious? Most DeFi projects reserve 10% of the tokens they issue for the dev team. at current marketcap that's about 70 million. (used to be 10x as much in the bull market). Besides that curve is not some ponzi scheme, it's an actual DAO and offers reasonable APY. The APY on curve is in the range of like 2% (Working together with AAVE to provide it even).

Designer_Restaurant1

Literally anything can be decentralized it seems, you have to keep learning in this space. Not sure many people imagined having a decentralized venture capital, where members make all the decisions through the DAO. Common Wealth DAO is the first shot at this and I'm paying attention 😁

eldron2323

NFTs are not a jpg. They are a unique token id of a collection of tokens. View them as a key that can be used to verify ownership / authenticate users. You know how you use a gmail account to sign into different platforms. You have a wallet that’s is your “gmail” account that will sign you into the main sections of websites, but some features may be locked unless you have an NFT. NFTs act as a secondary authentication protocol. They give you access to whatever features a developer decides to make. Staking, DAO access, tickets, etc

Napoleon_246

It'll be good to see DAO's working on some of these issues

coinfeeds-bot

tldr; UNICEF is experimenting with a DAO prototype to support digital public goods that benefit children and communities worldwide. DAOs offer a fresh way to manage and deliver humanitarian aid and development projects, paving the way for more open, democratic, and lasting governance of humanitarian efforts. Through blockchain-based smart contracts and digital tokens, DAOs facilitate collaboration among a network of contributors. Furthermore, DAOs give affected individuals a greater say in the planning, execution, and assessment of initiatives that impact them. UNICEF is testing a DAO prototype on Polygon, a layer 2 solution that enhances Ethereum transactions’ speed and affordability. The DAO prototype aims to refine communication and decision-making for a DPG project named Rumsan, supported by UNICEF’s CryptoFund. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

WickedRatios

They have DAO bonds… it’s OHM and the whole protocol owned liquidity spectrum

Rise_Relevant

Once you bring autonomous AI and crypto together in a meaningful way, the space will explode like no one ever thought it could. I'm not taking trading or influencer bots or rubbish like that. I'm talking AI that is owned and run by DAO's that run on chain selling their services for the token of that chain or any other cross chain config.. The ability for AI to learn what humans need and want and built software and machines to order designed specifically for optimising those product or service, in competition with other AI will bring next level development, not only in the crypto space, but to the global economy in general.

elborracho420

Like tokens can have utility, so can NFTs. Its newer so a lot of use cases are still being played with. Our team made a DAO voting system that uses NFTs as voting cards. The voters can submit and pass proposals to control the liquidity pool, pay out devs, etc. Arguably this could have been accomplished without NFTs, but just a suggestion. We also sell NFTs that holders receive daily staking rewards airdropped for holding. So in this instance its like a collectible whitelist token. Proceeds from sales go back into liquidity. They can be used for blockchain based games, for artists to sell art, as customizeable avatars, really just depends on how creative the people are using them.

Qptimised

For anywho doesn't understand what the title means, these two passages sum it up. > Let’s consider the example of a Web3 lender looking to attract new users from Web2, and retain existing users in Web3 by lowering collateral ratios on crypto loans: Suppose a borrower approaches a lender, either in the cefi or defi space, seeking a loan. Traditionally, lenders require significant over-collateralization (>140-200%) due to the unknown risk associated with an individual borrower. > In a new scenario, lenders and protocols can offer appropriately collateralized loans if the borrower provides signals that support a perceived reduction of risk. These ‘signals’ are trusted data which may include on-chain transaction history, social signals and proofs like DAO contribution history, ownership of real-world assets, and even the borrower’s Web2 credit score and KYC data. The lender utilizes these signals to assess the risk of the loan. The more signals the borrower provides, the lower the perceived risk.

Effective_Discount67

shiit, PEPE DAO still the best IMO. Enerygrinks, passive rewarding nft´s what not to like

midgetforce2k

Let's DAO that shit lmao

Vedaykin

A DAO friend started a conversation about crypto in a larger friends circle. I had to intervene and stop the discussion right at the start. I am a degen, but talking about crypto is cringe af when around non crypto friends.

Concept-Plastic

>The Arbitrum-based Jimbos Protocol is an attempt to make a token with a semi-stable floor price, that's backed by an amount of assets. It attempts to take some elements of the Olympus DAO project — which rose quickly in price before eventually collapsing. Everything about it was shady and risky, how did it even get hacked. Just blows my mind /s

iamjide91

Definitely! I like to stake and provide LP on platforms such as Algem, Ankr, and others. I'm also involved in DAOs like the DIA DAO, where participating in governance decisions can be quite rewarding. And if you're not up for that, you can always complete simple tasks for rewards. It's really that easy!

Setyman

>On Friday, the hacker’s proposal passed by an overwhelming majority, and it can now be implemented by any member of the DAO over the next two days—control goes back to the community, and most changes will be reverted. So he just flexed his hacking skills huh

coinfeeds-bot

tldr; Self-executing proposals in DAOs can lead to unintended consequences, as seen in recent examples on Aave and Tornado Cash. While they offer an additional level of decentralization, they also remove the need for an intermediary to execute proposals, which can centralize the entire model. Third parties acting on behalf of a DAO can also inject risk and points of failure into the system. The balancing act of active community involvement and minimizing risk sheds light on the growing industry of business consultants in crypto, known as delegates. Ultimately, implementing self-executing proposals is inevitable, but security measures such as timelocks and security audits are necessary to prevent backdoors and exploits. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

Equivalent-Wedding-7

DAO are groupthink echo chambers with one goal - pump and dump

moldyjellybean

DAO is just a fancy name to trick people. I’ve never seen a DAO that was actually decentralized or autonomous. Or even Organized for that matter. Just a bunch of greedy and power hungry humans behind the name.

AwkwardHamburge

>“First and foremost, any DAO proposal that includes a proxy upgrade of smart contracts should be reviewed by a security audit firm to catch bugs and potential backdoors such as this,” said Lewellen. “Otherwise, an upgrade could introduce a backdoor and exploit the system, as it did for the Tornado Cash DAO The problem is that there are no competent audit firms to catsh these bugs and backdoors. Due to the complexity of Blockchain protocols.

Designer_Restaurant1

Currently B. the most for me with OCEAN data farming being the most lucrative for me, then ATOM staking. D. is the next on the agenda for me, that's why I joined a VC DAO, Common Wealth DAO, afaik it's the first community VC project.

Backuppedro

Stargate Proposes Disabling Fantom Pool Amid Multichain Issue Stargate has proposed to eliminate the Fantom USDC pool and remove all DAO controlled funds from the pool amid Multichain crisis. The voting period commenced on May 27, 2023, at 3:47 AM and will conclude on May 30, 2023, at 3:47 AM.

nomorebonks

Used to play EverQuest - wish I got something to keep from all the time I put in. The only way it works is with everything living on-chain. Open it up as a DAO meaning changes only go through after a passing vote - completely autonomous. You cannot change the game unless a governance vote passes. Several games are starting to be built like this and will share a token standard as well. Internet Computer's SNS systems will DAO any project that wants true decentralization. That's the only place this can be built.

Milana_Everstake

Excellent analysis of the Curve DAO (CRV) volatility. It's vital to keep an eye on long-term prospects in such turbulent times. Similarly, [Oasis Network](https://www.oasisprotocol.org/) shows promise despite market conditions, due to its focus on privacy and data ownership, emphasizing the importance of evaluating projects based on their fundamental value. Stay strategic and keep exploring opportunities even amidst volatility.

CryptoIsThePlan

Ethereum did something similar when after [the DAO hack](https://youtu.be/VV5l4_Up8MQ).

nzubemush

Not mine lol, a new VC DAO, essentially a community-controlled Venture Capital. I joined, it sounds interesting and I want to experience it first hand.

AwkwardHamburge

Bro, I don't even feel safe buying the native token of a L2. Apart from BTC and ETH, there are only a couple of L1 coins that I buy significant amounts of. They need to have a real utility, to be decentralized to some extent, and to have a reasonable inflation rate and last but not least to have a competent team. I regularily do some onchain analysis to see what the big whales are doing. L2 and DAO tokens are a total gamble in my book. They could go down to goblin town at any moment and for any reason.

nomorebonks

You need a true decentralized platform for social media ran as a DAO where all holders can participate in running it, and the entire site acts as a smart contract to reward holders while living fully on-chain. Internet Computer has several sites growing like this like OpenChat. Only place you can build entirely on-chain.

CartographerWorth649

That's pretty cool! Back on my uni days, I haven't heard about blockchain! I believe it would be interesting to look into the importance of live data on the crypto space and how oracles are so important (and in my opinion overlooked). The link (unintended pun) between crypto and the real world is also work of oracles with countless possibilities - ChainLink have been doing amazing on the space. I am a Dia Data DAO contributor, and if you are interested I probably could get you in touch some of the admins/devs if you'd like to interview them.

Objective_Digit

As the only serious coin there is? Ethereum has new monetary policy and a hard fork every month. It was pre-mined and has been censored (2016 DAO). It's centralized to boot. Especially with PoS.

Popatteri

Other chains don't really have security problems. Bridges, exchanges, DAO's do. I think PoW is a total overkill. After all, we have a climate disaster to tackle.

coinfeeds-bot

tldr; ClubRare and Polygon have partnered to launch a social e-commerce platform for phygital goods. Polygon will provide support to ClubRare, and in return, ClubRare's DAO has chosen Polygon as the preferred candidate for mainnet expansion. The platform will offer customizable profiles, interactive 3D spaces, real-time asset tracking, specialized collector guilds, and full ownership through phygital NFTs. ClubRare aims to transform the phygital goods landscape and empower users with collection, connection, and control. A limited-time pre-launch event is currently ongoing, allowing users who join the platform's waitlist to unlock $100 worth of premium features for free. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

Matth3w_95

I honestly don't know. When I first read how UST/LUNA worked, I found it fascinating to have something that remains stable thanks to math, without having to rely on physical funds. Clearly, it didn't work out, but maybe similar improved experiments will be successful in the future. I know for example that Olympus DAO has modified the tokenomics of his asset OHM to make it "backed by ETH and other coins" and they assure that its value can go up but it can't fall beyond 1$ due to a burning mechanism. I'm not convinced and I haven't invested in it, but I'm curious to see how it will develop.

nomorebonks

It’s entirely ran as a DAO - completely autonomous.

CointestMod

#Polygon Con-Arguments Below is a Polygon con-argument written by Maleficent_Plankton. > **Background - Polygon is many-sided**. There's the main Polygon PoS network that acts as a sidechain to Ethereum, and then there are so many side projects, many of which deal with Layer 2: > > - MATIC: The main Polygon token, which is present on multiple networks > - Polygon PoS: The main Ethereum side-chain network that most are familiar with. It saves checkpoint state on the Ethereum network every [256 blocks (5 minutes)](https://research.binance.com/en/projects/matic-network). > - Polygon [Hermez](https://docs.hermez.io/#start-here-for-hermez-10-documentation): ZK-rollup Ethereum Layer 2 > - Polygon [Zero](https://blog.polygon.technology/introducing-plonky2/): A fast ZK-stark/ZK-snark hybrid solution built on the Plonky2 protocol. It proofs are theoretically [100x faster than current ZK proof calculations](https://blog.polygon.technology/zkverse-polygons-zero-knowledge-strategy-explained/). > - Polygon [Miden](https://blog.polygon.technology/polygon-announces-polygon-miden-a-stark-based-ethereum-compatible-rollup/): Stark-based ZK-rollup Ethereum layer 2 > - Polygon [Nightfall](https://blog.polygon.technology/zk-proofs-protocol-polygon-nightfall-launches-on-testnet-to-provide-low-cost-private-ethereum-transaction/): Enterprise version of Polygon that uses "ZK-Optimistic Rollups" (ZK proof for privacy and optimistic-rollup for scalability) > - Polygon Avail: Standalone network or side-chain solution > - Polygon Plasma Bridge: A legacy bridge that shouldn't be used anymore. > > This post will mainly focus on the Polygon PoS network. > > ------------------ > > **CONs** > > **Still requires the Ethereum network** > > The Polygon PoS network is a side chain for Ethereum. It has its own network security, but staking is still done on the Ethereum network and requires paying expensive Ethereum smart contract gas fees. > > Similarly, going from Layer 1 Ethereum to Polygon is mainly done through the Polygon PoS bridge, which also costs expensive Ethereum gas fees. (This will gradually phase out as more CEXs provide direct onramp to the Polygon PoS network.) > > **Has plenty of competitors** > > There are just too many competitors, which dilutes adoption and liquidity for Polygon's ecosystem. While Polygon PoS isn't a direct competitor to most Layer 2 rollups and monolithic "Ethereum killers" because it is designed from ground up to be Ethereum sidechain, it does experience indirect competition. And the other Polygon Layer 2 rollup projects are direct competitors. As of Jan 2021, Polygon Hermez is only in [17th place in TLV](https://l2beat.com/). > > **Less resistant to DDoS attacks** > > Like all networks with low transaction fees, it at risk to DDoS attacks since the barrier to making transactions is low > > In early Jan 2022, [Sunflowers Farm \(SFF\) unintentionally DDoS-attacked the Polygon PoS network](https://www.coindesk.com/tech/2022/01/06/polygon-under-accidental-attack-from-swarm-of-sunflower-farmers/) and completely congested the network because it was more profitable to play the game and spam transactions than pay network fees. Transaction fees shot up 20x. Eventually, a hacker exploited the SFF game and reduced its price to zero, and users rejoiced because it cleared the congestion. > > **Centralized governance of the PoS chain** > > Governance is currently centralized. > > The Polygon team single-handedly [increased the transaction fee from 1 to 30 Gwei in Oct 2021](https://thedefiant.io/polygon-transaction-fee-hike/) to combat spammers. They didn't communicate this with the community or ask for feedback ahead of time. > > The Polygon team also [secretly hard-forked the network](https://cryptobriefing.com/a-hacker-stole-1-6m-after-exploiting-a-polygon-bug/) by pushing out a patch 1 day after a hacker stole $1.6M from the network from the Polygon PoS genesis contract in Dec 2021. The team didn't publicize the reason for the emergency patch until over 3 weeks later. > > They have only very recently starting looking to decentralize governance through a [Polygon Ecosystem DAO](https://blog.polygon.technology/state-of-governance-decentralization/), but that could be a long time away. > > Also, the top 4 staking validators out of a total of 100 validators [own 49% of the supply](https://wallet.polygon.technology/staking/) of MATIC, but the staking validators are only used for validation and [block production](https://forum.matic.network/t/matic-system-overview-bor/126), not governance. > > **Split attention on multiple projects** > > For better or worse, Polygon is working on multiple Layer 2 solutions (Polygon PoS, Hermez, Zero, Miden, Nightfall, Avail) and constantly researching different protocols. This is a rather Google-like decision to have multiple competiting products where it becomes the Jack-of-all-trades, Master-of-none. Some of these protocols are really exciting, but the crypto community doesn't know about them because there are too many to focus on. > > **Tokenomics of MATIC Tokens** > > The MATIC token has limited utility. It's used for staking (validation and block production). Once the pool of staking rewards runs out of funds, all staking rewards will need to come from transaction fees, which are tiny. Currently only 75% of the coins are in circulation, and the Polygon Team has an ongoing [token release schedule](https://research.binance.com/en/projects/matic-network) for dumping tokens on the open market. > > ------------------ > > Disclaimer: I currently do not own any MATIC. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Polygon) to find submissions for other topics.

Ermingardia

I really like this report highlighting many different use cases. A friend of mine is an NFT musician, and afaik releasing the songs as NFTs has had a positive impact, making his fan base grow. I also love the concept of DAOs, and I have an idea for one, although I doubt I'll ever implement it. It would be a DAO to fund a travelling art exhibition by various artists.

pbjclimbing

> too dumb to read it Just like the Tornado Cash DAO. I would say that users if Tornado Cash have higher than average computer and crypto skills. This did not prevent them from passing a governance with a self destruct function that allowed the proposer to change what the governance did. Open source it great, but you need to actually read it. There are multiple hardware wallets where testers have not been able to confirm that the published open source code is the same as the code on the device or the most recent update is delayed in being published.

Potential-Coat-7233

How do they take a cut? You are owning a tokenized share in the DAO. If you own 10% and lofty owns 10% of the same property, they do the legwork and you get the same return? Something is missing

iamjide91

I wouldn't call it a bad cryptocurrency. They were clear about their intentions from the start, but I never really agreed with their concept. However, it's okay for those who do. Personally, I prefer projects that are more focused on decentralization, like Bankless DAO or DIA DAO. There are too many options out there to focus on just one.

dwulf69

Crypto needs rules, not regulations. The rules are embedded in the software, they are fully transparent, they offer triple entry accounting standards so no 3rd party auditing is required, there is no requirement for KYC/AML transactions are pseudo anonymous requiring a unique hash to authenticate the transaction and most importantly all wallets are fully self-custodial. The regulations are done behind closed doors or obscured law making, they offer flawed accounting standards that can be manipulated by 3rd party auditing, there is a mandate for full KYC/AML documentation that requires a 3rd party to hold subject to rogue employees and unjustified and or unlawful Jon/Jane Doe requisitions, a unique hash and identification is required to transact and most importantly all wallets must have a 3rd party custodial service that is not the user of the wallet. Users need to opt-out, learn DeFi and DAO systems, and let these tyrannical fiduciary ministers die and go extinct. The new world economy has spoken and the users outnumber the regulators.

Maxx3141

No, the story of ETC was different. After the [DAO hack](https://www.gemini.com/cryptopedia/the-dao-hack-makerdao#section-origins-of-the-dao), the actual network forked away to undo it. This was very controversial because blockchain was intended to be immutable. ETC remained as the unforked network, where the hack still happened.

coinfeeds-bot

tldr; LabDAO has raised $3.6 million in a seed funding round to decentralize drug discovery. The platform aims to create a decentralized autonomous organization (DAO) that will allow scientists to collaborate and share data in a secure and transparent manner. The funds will be used to develop the platform and expand its team. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

pojut

>I was just about to say it feels like these pharmaceutical companies have ALOT more funding than this DAO would have. Absolutely, for sure. At this point, it's more about the concept and the possibilities of sharing research findings with others in an attempt to "crowd source" drug discoverability. Getting any discoveries to market will be an entirely different problem, but they've got some time before they get to that point. >Thanks for sharing this, learned something new! Glad to help!

CryptoIsThePlan

I was just about to say it feels like these pharmaceutical companies have ALOT more funding than this DAO would have. Still an interesting concept nonetheless imo regardless of whether they get to make anything out of it. Thanks for sharing this, learnt something new!

CointestMod

#Aave Pro-Arguments Below is a Aave pro-argument written by strudelpower. > **Aave Pro Arguments** > > Before going straight for the pro arguments for Aave Protocol, it's important to know what Aave is, right? > > Aave with it's same named handle AAVE, is a decentralised liquidity market protocol. To put it simple, the users of Aave protocol can participate as depositors or as borrowers while former provide liquidity and earn passive income, while latter have 2 options for borrowing: overcollaterised / perpetual and undercollaterised / one block liquidity. > All funds on Aave are stored in a smart contract that is secure, audited and completely open source! > AAVE token is, similar to many other DeFi protocols, used for governance and can be staked to provide further insurance for depositors. > > > Now let's head on to PRO Arguments for Aave protocol. > > **Insane TVL (total value locked)** > Aave has nothing short of an insane TVL. As of time of writing this post, according to the [official data](https://aave.com/#governance) $ 7,762,867,306 is locked in the AAVE across 7 different cryptocurrency networks and over 13 markets. DeFi Llama reports a lower number at roughly 5 billion. Still this puts Aave protocol at 4th place according to DeFi Llama in the TVL which is astonishing. The pinnacle of TVL was just a bit $19 billion TVL during October 2021 bullrun. > > ** One of the pioneers in DeFi** > Aave which started out as ETH Lend in 2017, is considered as one of the pioneers in DeFi lending and borrowing platforms > Aave is also one of the first that implemented a (back in then) revolutionary "flash loan" feature in decentralized finances. > Platform saw a massive growth in 2020 and in 2021 despite volatile market. Being a pioneer is an advantage that very few have. Aave to DeFi is almost what Bitcoin is to Cryptocurrencies. > > **Multi chain juggler** > Aave is not limited to Ethereum or Polygon or something third. Aave currently supports all following chains: Ethereum, Avalanche, Optimism, Polygon, Arbitrum, Fantom and Harmony. Most of it's assets are being stored on Ethereum however other chains such as Avalanche are gaining momentum despite bearish market. > > > **Well-Decentralized** > Aave Protocol claims to be fully decentralized, with a community of more than 120,000 people who hold the voting rights. In addition to that, Aave Grants DAO, which is a community-led grants program, offers community to empower developers that they want to support. > > **Open Source** > Aave is fully open-source defi protocol. What does that mean? It means that the community can help Aave become even better by providing bug reports, making suggestions and so on. The whole code is provided on Github which you can check out at https://github.com/aave > > > I am sure that Aave and it's token AAVE has a bright future ahead of it. If it can maintain the insane amount of value locked in it and steer away from any bigger security compromises such as recent hacks on the bridges and LPs, then I see it as the leader in DeFi for the next market run. > > *Sources for the post listed below* > https://coincodex.com/article/10388/what-is-aave-heres-why-aave-is-one-of-the-leading-defi-protocols/ > https://defillama.com/protocol/aave > https://decrypt.co/resources/what-is-aave-inside-the-defi-lending-protocol > https://docs.aave.com/aavenomics/safety-module ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Aave) to find submissions for other topics.

TotesMessenger

I'm a bot, *bleep*, *bloop*. Someone has linked to this thread from another place on reddit: - [/r/coinfantasy] [Transforming the Digital Media Universe | Secret3 DAO $SRT3 | Brace Yourself for the Fair Launch on May 28th | KYC & Audit in Full Swing](https://www.reddit.com/r/CoinFantasy/comments/13pg1ht