Veröffentlicht am

Cosmos proposal to transfer 42.7 million unclaimed Neutron (NTRN) approved

  • Cosmos Hub announced on October 30 that proposal #835 seeking the transfer of 42.7 million tokens from Neutron DAO to Cosmos Hub community pool had passed.
  • The proposal authorises the transfer of 42,727,950 NTRN in airdrop tokens not claimed.

Cosmos (ATOM) has announced that the proposal to transfer more than 42.7 million tokens from an unclaimed airdrop of the CosmWasm platform Neutron (NTRN), has been approved.

The governance proposal #835 sought to authorise the Neutron DAO to transfer the 42,727,950 NTRN that had not been claimed to the Cosmos Hub community pool.

Cosmos’ proposal and funds’ use

On October 30th, the Cosmos Hub revealed the governance vote had passed and the 42.7 million NTRN worth approximately $18,000,000 at the time of the proposal will now be moved to the community pool.

Included in proposal #835 were policy details that outlined the rules that applied to the transfer in relation to how the Cosmos ecosystem could utilise these funds. 

Approval and the subsequent transfer from the Neutron DAO was pegged on the understanding that the Cosmos community would adopt a policy that affects no harm to Neutron as a result of the funds’ use.

The other was that there would be mutual benefit, that the Cosmos network, its governance, and the community would ensure proper use of the funds for long-term benefit to both the Cosmos Hub ecosystem and Neutron.

Binance added NTRN to its Launchpool as the 38th token on October 10. The 20-day offering allowed users to farm NTRN tokens by staking their BNB, or stablecoins TUSD and FDUSD.

The post Cosmos proposal to transfer 42.7 million unclaimed Neutron (NTRN) approved appeared first on CoinJournal.

Veröffentlicht am

Polkadot (DOT) surges 8% with staking dashboard upgrade

  • Polkadot’s price experiences an 8% increase.
  • The surge is bolstered by the introduction of the Staking Dashboard 1.1.
  • The upgrade allows users the ability to view the 14-day activity of validators on the Polkadot network.

Polkadot (DOT) has once again made headlines with its impressive price movement in the crypto market. At the time of writing, each DOT is priced at $4.34, reflecting a 3.23% increase in the past 24 hours.

This surge in DOT price is attributed to the recent deployment of Polkadot’s Staking Dashboard 1.1, designed to enhance the user experience within the Polkadot ecosystem.

Polkadot’s resurgence

Over the past week, Polkadot has been among the best performers in the top 20 cryptocurrency rankings by market capitalization, with an 8% price gain during this period. This positive momentum underscores Polkadot’s readiness to retest the resistance point at $5 in the near term.

The surge in Polkadot’s price is not merely coincidental. It is closely tied to the introduction of the Polkadot Staking Dashboard 1.1, a critical upgrade in the Polkadot ecosystem that provides users with improved insights into the network’s validator activities and performance.

The Polkadot Staking Dashboard 1.1

The Polkadot Staking Dashboard 1.1, unveiled by Ross Bulat, an engineer with Parity Technologies offers Polkadot Stakers a more intuitive reporting system, making it easier for users to understand ongoing activities within the ecosystem.

Among the features of this upgrade is the ability to view the 14-day activity of validators on the Polkadot network, along with their performance concerning the staker’s nominations. Light clients are now supported, and asynchronous synchronization is enabled, enhancing the overall user experience.

The dashboard also includes a ranking system that classifies validators based on their performance, allowing potential stakers to make informed decisions. To ensure maximum accuracy, the dashboard showcases the validator with the best performance by default.

This upgrade is designed to promote transparency and ease of use, ultimately encouraging greater participation in the Polkadot network and driving the recent surge in demand for DOT tokens. With high-profile partnerships and the increased accessibility provided by the Staking Dashboard 1.1, Polkadot appears poised for continued growth.

The post Polkadot (DOT) surges 8% with staking dashboard upgrade appeared first on CoinJournal.

Veröffentlicht am

Robert Kiyosaki picks gold and bitcoin over stocks and bonds

  • Robert Kiyosaki challenges the 60/40 investment strategy that has 60% stocks and 40% bonds.
  • He says a portfolio with 75% gold, silver Bitcoin mixed 25% real estate/oil is better.
  • Investors might want to shift if they want to survive an imminent economic crash of historic proportions.

Robert Kiyosaki, a renowned author and entrepreneur, says the current market is not one where the traditional 60/40 investment advice works. 

Financial experts have for ages talked about having 60% of one’s portfolio in stocks and 40% in bonds. But according to Rich Dad Poor Dad author, those who take this approach to portfolio allocation are “the biggest of losers.”

Gold, silver and Bitcoin

Rather than the 60/40 strategy, Kiyosaki suggests putting 75% of the investment in gold, silver and Bitcoin, and 25% in real estate or oil. Such a portfolio might survive a global crash.

 “Forever and ever financial experts have promoted the idea “Smart Investors invest in 60/40 60% bonds 40% stocks. In 2024 60/40 investors will be biggest losers. Before going down with the ship consider a shift to 75% Gold, Silver, Bitcoin 25% real estate/oil stocks. This mix may allow you to survive the greatest crash in world history,” he said in an October 29 post on X.

In another post last week, Kiyosaki noted that his first gold coin cost him $40 – today it’s worth $2,000. Rather than wanting to be like the Oracle of Omaha Warren Buffett, he opined that “Dollar Cost Averaging” was what average investors should go for when looking to accumulate assets.

The investor’s latest take on investing comes as the Bitcoin price hovered above $34,000. The benchmark crypto asset is forecast to embark on a new bull market that could take its price to highs of $125k in 2024.

Currently, bulls are looking to retest resistance above $35k, with analysts saying investors could be watching for volatility amid an upcoming Fed meeting and the unfolding geo-political landscape.

The post Robert Kiyosaki picks gold and bitcoin over stocks and bonds appeared first on CoinJournal.

Veröffentlicht am

UK publishes proposals on stablecoin regulation, outlines FCA’s regime

  • The HM Treasury today published a policy update to the country’s crypto regulation.
  • In it, the UK government has outlined the FCA’s regime in stablecoin regulation.
  • The Bank of England (BoE) and the Payment Systems Regulator (PSR) will also have a role.

The UK government has published a policy update outlining a phased regulation of fiat-backed stablecoins in the country.

In terms of regulating activities around stablecoins, the HM Treasury will focus on two areas – their use in payment chains and issuance and custody “in or from the UK.” The latter will be irrespective of a fiat-backed stablecoin’s uses, that’s whether for payments, as a settlement asset, or as a store of value.

FCA, BoE role in stablecoin regulation

In the publication, which was made public on Monday, the HM Treasury explains the expected regulatory regimes of the Financial Conduct Authority (FCA), the Bank of England (BoE) and the Payment Systems Regulator (PSR).

“The regulatory landscape will bring certain (fiat-backed) stablecoins within the remit of the Bank of England, Financial Conduct Authority (FCA) and Payment Systems Regulator (PSR), which altogether will aim to minimise potential for customer harm and mitigate the conduct, prudential, and financial stability risks arising from those stablecoins, particularly when used for payments,” the document reads in part.

The government expects the FCA, BoE and PSR to work within statutory objectives that align with the overall stablecoin regulation framework, with regulators coordinating for a clear approach.

While the HM Treasury secondary legislation via parliament will bring stablecoins within the FCA’s regulatory perimeter, there’s co-responsibility on the FCA and BoE to supervise a firm recognised as systemic.

“In a scenario where an FCA authorised fiat-backed stablecoin firm is recognised as systemic by HM Treasury, and so should be supervised by the Bank of England, the government expects that the Bank of England should act as the lead prudential regulator and be able to supervise such an entity through Part 5 of the Banking Act 2009, while the firm continues to also be regulated by the FCA for conduct,” the document states.

UK’s legislation on crypto is set for 2024, after the Financial Services and Markets Act 2023 passed into law in June to allow for the treatment of crypto as a regulated activity. The latest policy update looks to prepare the various government agencies and regulators for this.

The post UK publishes proposals on stablecoin regulation, outlines FCA’s regime appeared first on CoinJournal.