In a dynamic day for the cryptocurrency space, various projects made significant updates and announced offerings, marking a pivotal moment for the altcoin industry. Here is a summary of the latest developments from six leading coins…
New recommendation from the community behind altcoin COMP
Compound, a decentralized finance (DeFi) protocol, has officially announced two offerings from its community. The first involves a four-month growth plan allocating 7770 COMP, with 5010 COMP directed to a growth fund. The proposal also calls for adding rETH as cWETHv3 collateral to the Ethereum mainnet.
Cosmos and NEAR establish a bridge partnership
During the NearCon2023 event, Secret Network announced that it plans to use NEAR-IBC developed by Octopus Network to establish cross-chain connectivity between Secret Network and NEAR Protocol by the first quarter of 2024. This groundbreaking collaboration aims to advance NEAR’s cross-chain capabilities and make it a pivotal hub in the Internet of Blockchains.
Lido offers proposal for community staking
Lido, a liquid staking protocol, announced its proposal for a new staking router module called the Community Staking Module (CSM). This proposal, if approved, would allow individual and community stakers to participate without permission through bonds. CSM’s equity allocation will gradually increase from 1% to 10%, and a mainnet launch is planned for the end of 2024.
Aave approves lending with altcoin GHO
The Aave community is actively participating in the on-chain voting on the proposal to increase the lending interest rate of the stablecoin GHO. The proposed regulation aims to overcome the peg drift problem by increasing GHO’s annual borrowing interest rate from 3% to 4.72%. Voting will end on November 13.
Vela received investment from DWF Labs
Velo Labs, one of the leading players in the Web3 financial ecosystem, proudly announced that it received a $10 million investment from DWF Labs. Focused on creating a harmonious financial ecosystem through blockchain technology, Velo Labs aims to improve global asset flows, increase financial inclusion and drive mainstream adoption of crypto assets.
Chamcha presents a new launch
Chamcha, a pioneer in developing Ordinals asset liquidity, is preparing to launch CHAX Farm. Built on BRC20 token CHAX, this initiative aims to lower the threshold for OKX wallet users to mine Alpha assets in the BTC ecosystem. Users can pledge CHAX through the OKX wallet, access Alpha assets without a threshold, and earn OKB rewards.
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