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Community Tokens and DAOs: Empowering Decentralized Communities
Community Tokens and Decentralized Autonomous Organizations (DAOs) are two key concepts in the world of blockchain and decentralized communities. Let's explore what they are and how they contribute to the growth and empowerment of these communities.
Community Tokens:
Community Tokens are digital assets created by Community Builders to enhance the engagement and participation within their communities. These tokens serve as a form of membership or access pass, granting holders certain privileges or benefits within the community. They can be used to unlock exclusive content, access events, or participate in community governance.
Some key points about Community Tokens include:
They streamline the system of collecting rewards and diversify the content that can be earned by participating in community activities.
They are often blockchain-secured, ensuring transparency and immutability.
Community Tokens can be created for various purposes, such as granting access to online communities or incentivizing community contributions.
Examples of Community Tokens include $JAMM, which provides access to an organization's Discord server, and other social tokens like SoCool, Roll, iMe Lab, Torum, Rally, DTTD, forgivenet, and Maxity.
Decentralized Autonomous Organizations (DAOs):
DAOs are organizations managed in whole or in part by decentralized computer programs, with voting and finances handled through a blockchain. They enable like-minded individuals from around the world to collaborate and work towards a shared mission without the need for a centralized authority.
Here are some key aspects of DAOs:
DAOs are collectively-owned and blockchain-governed organizations.
They allow members to participate in decision-making processes through voting mechanisms.
DAOs often have built-in treasuries that hold funds accessible only by members.
#dao #community #token #social
Community Tokens and Decentralized Autonomous Organizations (DAOs) are two key concepts in the world of blockchain and decentralized communities. Let's explore what they are and how they contribute to the growth and empowerment of these communities.
Community Tokens:
Community Tokens are digital assets created by Community Builders to enhance the engagement and participation within their communities. These tokens serve as a form of membership or access pass, granting holders certain privileges or benefits within the community. They can be used to unlock exclusive content, access events, or participate in community governance.
Some key points about Community Tokens include:
They streamline the system of collecting rewards and diversify the content that can be earned by participating in community activities.
They are often blockchain-secured, ensuring transparency and immutability.
Community Tokens can be created for various purposes, such as granting access to online communities or incentivizing community contributions.
Examples of Community Tokens include $JAMM, which provides access to an organization's Discord server, and other social tokens like SoCool, Roll, iMe Lab, Torum, Rally, DTTD, forgivenet, and Maxity.
Decentralized Autonomous Organizations (DAOs):
DAOs are organizations managed in whole or in part by decentralized computer programs, with voting and finances handled through a blockchain. They enable like-minded individuals from around the world to collaborate and work towards a shared mission without the need for a centralized authority.
Here are some key aspects of DAOs:
DAOs are collectively-owned and blockchain-governed organizations.
They allow members to participate in decision-making processes through voting mechanisms.
DAOs often have built-in treasuries that hold funds accessible only by members.
#dao #community #token #social
Btw, all the people that sees my posts and don't interact with it, just wanna let you all know that your opinions are important, i will read your comments! #social
1. Balancer (BAL), a decentralized finance (DeFi) protocol, experienced a rapid decrease in total value locked (TVL) by over $200 million within 24 hours due to a critical vulnerability.
2. The #Balancer team identified this vulnerability in several Version 2 #Pools and alerted users via a #social media post on X.
3. Users were advised to withdraw funds from affected #liquidity pools (LPs) immediately to mitigate potential risks.
4. Although only 1.4% of the total TVL was deemed at risk, Balancer took preventive measures, including pausing some pools, to secure the majority of funds.
5. Balancer recommended migrating to safer pools or making withdrawals, particularly from pools labeled as "at risk."
6. Following the announcement, the #TVL on Balancer decreased from $840 million to $630 million on August 23rd.
7. Balancer successfully safeguarded most of the funds, and the current TVL on the protocol is now approximately $669 million.
8. The protocol informed users that swift action by Balancer LPs ensured over 97% of initially vulnerable liquidity is now secure.
9. While the vulnerability wasn't exploited, approximately 0.89% of total TVL ($5.6 million) remains at risk, prompting users to withdraw funds as soon as possible through the user interface.
10. This incident underscores the proactive approach of the Balancer team and the decentralized finance community in addressing potential security vulnerabilities to protect user assets.
$BAL
2. The #Balancer team identified this vulnerability in several Version 2 #Pools and alerted users via a #social media post on X.
3. Users were advised to withdraw funds from affected #liquidity pools (LPs) immediately to mitigate potential risks.
4. Although only 1.4% of the total TVL was deemed at risk, Balancer took preventive measures, including pausing some pools, to secure the majority of funds.
5. Balancer recommended migrating to safer pools or making withdrawals, particularly from pools labeled as "at risk."
6. Following the announcement, the #TVL on Balancer decreased from $840 million to $630 million on August 23rd.
7. Balancer successfully safeguarded most of the funds, and the current TVL on the protocol is now approximately $669 million.
8. The protocol informed users that swift action by Balancer LPs ensured over 97% of initially vulnerable liquidity is now secure.
9. While the vulnerability wasn't exploited, approximately 0.89% of total TVL ($5.6 million) remains at risk, prompting users to withdraw funds as soon as possible through the user interface.
10. This incident underscores the proactive approach of the Balancer team and the decentralized finance community in addressing potential security vulnerabilities to protect user assets.
$BAL
Friend.tech Faces Criticism After Sharp Decline in Activity and #Fees 🔥🔥
- The decentralized #social network Friend.tech faced a significant decline in key metrics less than three weeks after its launch, leading critics to predict its downfall.
- Following a successful beta launch on August 11, the platform's fees surpassed $1 million within 24 hours on August 19, outperforming #Uniswap and the #bitcoin network.
- However, #Friend.tech experienced a sharp drop in metrics like fees, transactions, buyers, and sellers, leading industry observers to express skepticism.
- Lisandro Rodriguez, Coinbase Payments Risk Manager, attributed the decline to "greed and poor execution."
- While the platform attracted notable crypto and non-crypto influencers, it's drawing comparisons to the 2021 DeSo app BitCloud, raising concerns about unsustainable user key price increases and questionable value propositions.
- The decentralized #social network Friend.tech faced a significant decline in key metrics less than three weeks after its launch, leading critics to predict its downfall.
- Following a successful beta launch on August 11, the platform's fees surpassed $1 million within 24 hours on August 19, outperforming #Uniswap and the #bitcoin network.
- However, #Friend.tech experienced a sharp drop in metrics like fees, transactions, buyers, and sellers, leading industry observers to express skepticism.
- Lisandro Rodriguez, Coinbase Payments Risk Manager, attributed the decline to "greed and poor execution."
- While the platform attracted notable crypto and non-crypto influencers, it's drawing comparisons to the 2021 DeSo app BitCloud, raising concerns about unsustainable user key price increases and questionable value propositions.
- #Shiba Inu's social volume has increased by 65% in the past week.
- The recent uptrend in Shiba Inu is linked to the upcoming #Shibarium upgrade.
- The coin's value surged to $0.00001050 but dipped below $0.00000900 before regaining momentum.
- The rebound after a significant decline indicates the market's continued interest in the rally.
- Shiba Inu reclaimed the $0.00001000 level, recording over 16% profits in the past week.
- #SHIB remains the 14th largest #cryptocurrency by market cap, closing in on Litecoin (LTC) and Polkadot (DOT).
- The surge in #social volume, tracking online mentions, indicates increased discussion about Shiba Inu.
- The increase in interest could be positive but excessive social volume might lead to a market top.
$SHIB $DOGE $BNB
- The recent uptrend in Shiba Inu is linked to the upcoming #Shibarium upgrade.
- The coin's value surged to $0.00001050 but dipped below $0.00000900 before regaining momentum.
- The rebound after a significant decline indicates the market's continued interest in the rally.
- Shiba Inu reclaimed the $0.00001000 level, recording over 16% profits in the past week.
- #SHIB remains the 14th largest #cryptocurrency by market cap, closing in on Litecoin (LTC) and Polkadot (DOT).
- The surge in #social volume, tracking online mentions, indicates increased discussion about Shiba Inu.
- The increase in interest could be positive but excessive social volume might lead to a market top.
$SHIB $DOGE $BNB
🔥 Meta has announced that they are working on creating a decentralized social app
Meta confirmed this development in a statement but didn’t give out details about when it plans to release the app.
#Meta #decentralized #social
Meta confirmed this development in a statement but didn’t give out details about when it plans to release the app.
#Meta #decentralized #social
- #DeBank will introduce the DeBank Chain testnet, followed by the mainnet in 2024.
- DeBank Chain, built on #OP Stack, features modified consensus, significantly reducing gas fees (100 to 400 times) for individual transactions.
- The #platform incorporates an on-chain system resembling account abstraction, blending a Web2 experience with EVM standard compatibility.
- The new account #system allows transactions with specific L2 private keys, enhancing L1 asset security by reducing L1 private key usage in #social situations.
$BTC $ETH $BNB
- DeBank Chain, built on #OP Stack, features modified consensus, significantly reducing gas fees (100 to 400 times) for individual transactions.
- The #platform incorporates an on-chain system resembling account abstraction, blending a Web2 experience with EVM standard compatibility.
- The new account #system allows transactions with specific L2 private keys, enhancing L1 asset security by reducing L1 private key usage in #social situations.
$BTC $ETH $BNB
Decentralized #social protocol #Farcaster is set to launch its v3 version on August 29, allowing anyone to register and use the network without any action required from existing users. Storage will be free for the first year, and users will retain their Farcaster usernames. New users will need to pay an annual fee of $5 to use the network. App developers will need to make some corresponding changes. Previously, Foresight News reported that Farcaster would migrate to the #OP Mainnet, with plans to enable permissionless registration.
