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 released its portable version. If they want chest 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, has voted against a proposal that aims to reduce the inflation rate of its native token, ATOM, to zero. Proposal 868, submitted by Stakelab, a Cosmos participant, 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 was connected, the inflation rate would drop to zero. Additionally, it would effectively create a deflationary scenario for the token. But the proposal did not receive enough support from the Cosmos community. The community is concerned about the negative impact this proposal will have on the security and sustainability of the network.
Shiba Inu celebrates the growth of Shibarium
Popular chest coin Shiba Inu celebrates the incredible growth of its layer-2 assay Shibarium. Chest coin’s official X account, Shibarium, shared a chart showing process growth. Accordingly, processes have now reached 300 million. The SHIB group said, “SHIBARMY takes Shibarium to new heights. “This rollercoaster really only has one direction: Up,” he wrote.
#SHIBARMY is driving #Shibarium to new heights. This rollercoaster truly has only one direction: UP! 🚀 pic.twitter.com/c0pNpxHgf5
— Shib (@Shibtoken) January 22, 2024
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 has carried out a series of transactions involving major exchanges. Thus, he made surprising transactions of $ 46.02 million 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 processes. Additionally, it revealed the 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.
Over the past 2 days, an entity with 8 wallets withdrew $46.02M in $ETH from #Binance and #Bitfinex at ~$2,419, then staked with #Lido:
– 5 wallets withdrew 50.15M $USDT from #Aave to CEX for 19,021 $ETH ($46.02M).
– 3 wallets still hold ~30M $USDT in #Aave and may deposit it… pic.twitter.com/vqPYTTaWjT
— Spot On Chain (@spotonchain) January 23, 2024
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 states that three wallets still hold approximately 30 million USDT on Aave.
Masa Network raised $5.4 million in funding
Decentralized data market developer Masa Network has completed $5.4 million in seed financing under the leadership of Anagram, with the participation of Avalanche Blizzard Fund, Digital Currency Group, GoldenTree, OP Crypto, Unshackled Ventures and PEER VC. Masa Network aims to establish a decentralized network that focuses on user personal data on Avalanche. Masa has connected more than 1 million wallets since its launch in August 2022. Additionally, it has licensed more than 15 million kiosks. Meanwhile, Masa Network has more than 23,000 test-net node operators.
The portable 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 launched its portable version. The portable 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 portable version will continue the high quality of the PC version. It will also be compatible with the playability of the portable version. This will make it the first 3A Web3 battle royale game available on multiple platforms in the industry.
Terra Luna Classic (LUNC) community accepts valuable 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 important upgrades to the Blockchain. This proposal restricts developers from exporting Terra Classic’s state to the genesis.json document, which is very valuable for testnets. Considering the priority of activating the ICA Controller parameter, everyone who participated in the proposal voted “Yes”. Thus, the proposal received unanimous support from the voting members.
Avalanche (AVAX Coin) Foundation rules for chest coin purchase plans!
According to the new guidelines, only chest coins specific to the Avalanche (AVAX Coin) Blockchain will be taken into account. Not all meme-coins are created equal! The 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 chest coins, playful, highly volatile cryptocurrencies often paired with dogs.
cryptokoin.com As 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 unauthorized Blockchains that anyone can trade. Whatever its philosophical perspective on 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 enterprises.
