The Cosmos community rejected a proposal aimed at reducing ATOM’s minimum inflation rate to zero. Bladerite, one of the Solana ecosystem games, has officially launched its mobile version. If they want the meme coins Avalanche AVAX Coin) Foundation to buy it, their creators will have to follow some rules. And more!
There is news from ATOM, ETH, AVAX Coin and these 4 altcoins…
Cosmos rejects proposal to reduce inflation rate to zero
Cosmos, a decentralized network of interoperable blockchains, voted against a proposal aimed at reducing the minimum inflation rate of its native token, ATOM, to zero. Proposal #868 from Cosmos participant Stakelab argued that lowering the inflation rate would benefit the network by easing inflationary pressures on the ATOM token, especially in scenarios where a large percentage of coins are tied.
Bonding refers to the process of locking ATOM tokens in exchange for staking rewards and governance rights. According to the proposal, if more than two-thirds of the total ATOM supply were connected, the inflation rate would drop to zero. Additionally, it would effectively create a deflationary scenario for the token. However, the proposal did not receive sufficient support from the Cosmos community. The community has concerns about the negative impact this proposal will have on the security and sustainability of the network.
Shiba Inu celebrates the growth of Shibarium
Popular meme coin Shiba Inu is celebrating the incredible growth of its layer-2 solution Shibarium. Meme coin’s official X account shared a chart showing Shibarium transaction growth. Accordingly, transactions have now reached 300 million. The SHIB team said, “SHIBARMY takes Shibarium to new heights. “This rollercoaster really only has one direction: Up,” he wrote.
Ethereum whale mobilizes $46 million worth of ETH
As a massive Ethereum whale makes massive transfers, the community is closely monitoring potential market impacts. Whale made a series of transactions involving major exchanges. Thus, it made a staggering $46.02 million worth of transactions in ETH in the last two days. Using a network of eight wallets, the whale withdrew funds from Binance and Bitfinex before staking them with Lido, a liquid staking solution. Blockchain analysis platform Spot On Chain first drew attention to important transactions. It also revealed intricate details of the charged ETH movement. Whale withdrew his Ethereum holdings from crypto exchanges Binance and Bitfinex at an average price of approximately $2,419.
He then used five wallets to withdraw 50.15 million USDT from Aave, a leading DeFi protocol, to the CEX trading platform, exchanging the USDT for 19,021 ETH, equivalent to $46.02 million. SpotOnChain also notes that three wallets still hold approximately 30 million USDT on Aave.
Masa Network raised $5.4 million in funding
Decentralized data marketplace developer Masa Network has closed a $5.4 million seed funding round led by Anagram, with participation from Avalanche Blizzard Fund, Digital Currency Group, GoldenTree, OP Crypto, Unshackled Ventures and PEER VC. Masa Network aims to build a decentralized network focused on user personal data on Avalanche. Masa has connected more than 1 million wallets since its launch in August 2022. Additionally, it has licensed over 15 million data points. Meanwhile, Masa Network has more than 23,000 test-net node operators.
The mobile version of the best 3A game of the Solana ecosystem is online
Bladerite, one of the best 3A games in the Solana ecosystem, has officially released its mobile version. The mobile version is now available on the Apple Store and Google App Store. Bladerite officially released it for PC in the 2nd quarter of 2023. The newly released mobile version will continue the high quality of the PC version. It will also be compatible with the playability of the mobile version. This will make it the first 3A Web3 battle royale game in the industry to be available on multiple platforms.
Terra Luna Classic (LUNC) community accepts important offer
The Terra Luna Classic community voted on another important proposal to introduce changes to the Blockchain that affect internal storage before developers start making significant upgrades to the Blockchain. This recommendation restricts developers from exporting Terra Classic’s state to the genesis.json file, which is crucial for testnets. Considering the priority of enabling the ICA Controller parameter, everyone who participated in the proposal voted “Yes”. Thus, the proposal received unanimous support from the voters.
Avalanche (AVAX Coin) Foundation set rules for meme coin purchase plans!
According to the new guidelines, only Avalanche (AVAX Coin) Blockchain-specific meme coins will be considered. Not all meme-coins are created equal! Its creators will have to follow some rules if they want the Avalanche Foundation to buy it. The organization behind the Avalanche (AVAX Coin) Blockchain has released a “compliance framework” that puts some guardrails around its eyebrow-raising plan to start buying meme coins, playful, highly volatile cryptocurrencies often paired with dogs.
cryptokoin.comAs you can see from , these tokens have sometimes produced maddening returns despite their lack of value. Thus, it has become a huge niche in the crypto world. But many of these are outright scams aimed at enriching their founders, who can create them quickly and cheaply on permissionless blockchains that anyone can trade on. Whatever its philosophical perspective on meme coins, the Avalanche (AVAX Coin) Foundation said Tuesday that it has “already begun” purchasing some of them, using money from its $100 million “Culture Catalyst” fund for cultural initiatives.
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