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Believing in the Power of Avalanche
An avalanche is a fascinating natural phenomenon characterised by the rapid movement of snowballs down a steep slope.
Interestingly, this concept finds a metaphorical echo in social mining studies, especially in blockchain ecosystems.
Social mining HUBs can most meaningfully generate the synergy needed for a blockchain project to promote itself, make people believe in it, and, more importantly, be sustainable.
We call this the "magic" of social mining. Once a project HUB is established, social miners can generate huge benefits from collective action in a project hub, just as snowballs can create an "avalanche" from the collective dynamics of the terrain. In the right conditions, the intimate and small-scale contribution and interaction of a Social Miner can turn into a giant community avalanche, and the project can shine as if giant spotlights were shining on it.
In 2018, the technology company Ava Labs in New York, USA, introduced a layer1 blockchain to the blockchain technology world as an alternative to classic consensus protocols.
They named their project "Avalanche", inspired by the three-stage consensus protocols (Snowflake, Snowball and Avalanche.)
The #AvalancheAVAX #AvalancheAVAXproject, which is now in the top 10 of the blockchain world, has benefited from the positive energy of the #AvalancheHub, #AvalancheHub, one of DAO Labs' most active social mining HUBs, since its testnet in 2020.
DAO Labs' Social Mining efforts represent a new approach to community management and the promotion of community work.
At #TheDAOLabs #TheDAOLabsSocial Miners come together in the Hubs of Projects. Community members, who form the core of the project community, are encouraged to produce content supporting the social mining platform's DAO, thus raising awareness of the project. These community activities empower social miners to actively participate in ecosystem growth and development and foster a sense of ownership and belonging in the hub.
HUB members are rewarded for their contributions with native tokens or other digital assets.
This symbiotic relationship between contributions and rewards underpins a thriving token economy where the value of tokens is derived from the collective efforts and contributions of the community.
DAO Labs, a social mining platform, recognises the valuable contributions of community members through a transparent and meritocratic mechanism. Reputation points generated by community loyalty and valuable content incentivize social miners to create higher-quality content. The benefit of all these incentives goes far beyond short-term awareness-raising and plays a critical role in the long-term sustainability of the project ecosystem.
Of course, a project's community hub is not only made up of content creators; participants come from all walks of the blockchain space, including developers, web designers, graphic designers, blockchain enthusiasts, traders, business developers, holders, and influencers.
Within this community, everyone contributes their talent or skill to the project's value, locked in a common goal.
Some produce content and spread it on social media to help the project gain broader exposure in the blockchain space and reach investors.
Some contribute to network security through delegation by staking the project token or running nodes.
Projects with active Social Mining HUBs almost guarantee sustainability during bear seasons or slow periods through community power.
The Avalanche Hub is one of the most advanced examples of Project HUBs that combine project communities with DAO Labs social miners.
Inspiring my article title, "Avalanche" is a high-performance layer1 blockchain project coded for the development of decentralised applications (dApps)
This unique consensus protocol ensures the network is fast, reliable and scalable. The Avalanche blockchain offers flexible usage possibilities with its subnets and has taken its rightful place in the blockchain technology field with its mainnet.
DAO Labs social miners discovered this high-performance blockchain project in early 2020 when it was still in the testnet phase. Today, they are the first community members of the Avalanche HUB, home to one of the most influential communities in the blockchain space.
If we look at the values produced by Avalanche HUB, which has been growing continuously for more than four years, as of April 2024, 28,000 registered HUB members have completed nearly 8,000 team tasks to date. Avalanche HUB continues to spread the Avalanche ecosystem with 2,200 daily active social miners on Telegram, Twitter and Reddit.
The numbers generated by Avalanche HUB on X are also very striking. 6734 Avalanche HUB member users with more than 1 million engagements generated more than 54.5 million impressions.
The breakdown of Avalanche Hub's community members by country, blockchain skills, and professional skills is also remarkable.
The infographic above outlines one of the most influential aspects of the Avalanche HUB. During the testing of the Avalanche network in 2020, social miners tested their technical knowledge and skills as validators.
Social Mining HUBs allow you to go beyond your existing skills. They are like multi-program schools.
The average social miner uses Canva and Photoshop, learns grammar and English spelling, and learns how to install and run many programs on their PC. They develop the PC skills required by blockchain technology.
If you search for what distinguishes the Avalanche project from other layer 1 projects, in addition to its technical superiority, you will definitely see the influential community among its features. This is realised through DAO Labs' social mining.
Avalanche Hub has a reward mechanism that incentivises effective user engagement. For example, community members with Project tokens can contribute to the network's security by staking and receiving rewards.
Developers or web designers provide technical support by checking for bugs or participating in testnets when needed. Business developers seek collaborations and partnerships that will benefit the project's expansion.
Social miners can earn rewards for sharing developments in the ecosystem on social media. REP points incentivise those who perform quality tasks.
Here is the joyful, sincere content produced by Avalanche HUB social miners in all their sincerity.
Check out how Avalanche HUB members show loyalty to their project on their X profiles.
Everyone is wearing their Avalanche hat.
You can find hundreds of such products on the Avalanche's official Twitter page.
Let's summarise how the collaboration between DAO Labs Social Mining and the Avalanche AVAX project created an "AVALANCHE":
The most important result achieved with establishing the Avalanche HUB is undoubtedly the adoption and awareness of the Avalanche project. By encouraging HUB members to create and share content about Avalanche's technology, use cases, and ecosystem developments, the HUB has increased the project's reach and visibility in the broader blockchain community. This increased awareness has attracted new users, developers, and investors to the Avalanche ecosystem, accelerating its growth and adoption.
The Avalanche HUB has created a fertile ground for innovation and collaboration within the Avalanche ecosystem. The social mining platform catalysed creative experimentation, idea sharing and collaborative problem-solving by bringing together a diverse community of developers, entrepreneurs and enthusiasts. This collaborative ethos has led to new DeFi protocols, decentralised applications, and ecosystem integrations, making the Avalanche ecosystem a giant and propelling it towards its vision of becoming a leading blockchain platform.
Conclusion:
Blockchain technology has brought the financial and technological world its latest revolution with the potential to provide a decentralised and trusted structure.
However, like any revolution, it has come with many issues that need to be completed and processed.
In addition to ensuring the continuous technological development of blockchain projects, we also need to make progress on the issue of mass adoption.
From this perspective, the real solution to the 2 major handicaps of blockchain projects and cryptocurrency - volatility and sustainability - lies in large, informed and loyal holder communities. Social Mining has always played and will continue to play a critical role in creating these communities.
As one of the first social miners of Avalanche HUB, I would like to express my deep gratitude to the founding leader of the Avalanche $AVAX project, esteemed professor Emin Gün Sirer and the AVA Lab Core team, who designed this excellent network project of which I am proud to be a citizen. Avalanche HUB was our baby; in these four years, it has grown into a giant adult ecosystem HUB. And, of course, I would like to pay my respects to the 2 managers, dear Giuseppe and Yusuf Emre, who have worked with incredible dedication since the day Avalanche HUB opened.
N.ipek Celik DYOR
Interestingly, this concept finds a metaphorical echo in social mining studies, especially in blockchain ecosystems.
Social mining HUBs can most meaningfully generate the synergy needed for a blockchain project to promote itself, make people believe in it, and, more importantly, be sustainable.
We call this the "magic" of social mining. Once a project HUB is established, social miners can generate huge benefits from collective action in a project hub, just as snowballs can create an "avalanche" from the collective dynamics of the terrain. In the right conditions, the intimate and small-scale contribution and interaction of a Social Miner can turn into a giant community avalanche, and the project can shine as if giant spotlights were shining on it.
In 2018, the technology company Ava Labs in New York, USA, introduced a layer1 blockchain to the blockchain technology world as an alternative to classic consensus protocols.
They named their project "Avalanche", inspired by the three-stage consensus protocols (Snowflake, Snowball and Avalanche.)
The #AvalancheAVAX #AvalancheAVAXproject, which is now in the top 10 of the blockchain world, has benefited from the positive energy of the #AvalancheHub, #AvalancheHub, one of DAO Labs' most active social mining HUBs, since its testnet in 2020.
DAO Labs' Social Mining efforts represent a new approach to community management and the promotion of community work.
At #TheDAOLabs #TheDAOLabsSocial Miners come together in the Hubs of Projects. Community members, who form the core of the project community, are encouraged to produce content supporting the social mining platform's DAO, thus raising awareness of the project. These community activities empower social miners to actively participate in ecosystem growth and development and foster a sense of ownership and belonging in the hub.
HUB members are rewarded for their contributions with native tokens or other digital assets.
This symbiotic relationship between contributions and rewards underpins a thriving token economy where the value of tokens is derived from the collective efforts and contributions of the community.
DAO Labs, a social mining platform, recognises the valuable contributions of community members through a transparent and meritocratic mechanism. Reputation points generated by community loyalty and valuable content incentivize social miners to create higher-quality content. The benefit of all these incentives goes far beyond short-term awareness-raising and plays a critical role in the long-term sustainability of the project ecosystem.
Of course, a project's community hub is not only made up of content creators; participants come from all walks of the blockchain space, including developers, web designers, graphic designers, blockchain enthusiasts, traders, business developers, holders, and influencers.
Within this community, everyone contributes their talent or skill to the project's value, locked in a common goal.
Some produce content and spread it on social media to help the project gain broader exposure in the blockchain space and reach investors.
Some contribute to network security through delegation by staking the project token or running nodes.
Projects with active Social Mining HUBs almost guarantee sustainability during bear seasons or slow periods through community power.
The Avalanche Hub is one of the most advanced examples of Project HUBs that combine project communities with DAO Labs social miners.
Inspiring my article title, "Avalanche" is a high-performance layer1 blockchain project coded for the development of decentralised applications (dApps)
This unique consensus protocol ensures the network is fast, reliable and scalable. The Avalanche blockchain offers flexible usage possibilities with its subnets and has taken its rightful place in the blockchain technology field with its mainnet.
DAO Labs social miners discovered this high-performance blockchain project in early 2020 when it was still in the testnet phase. Today, they are the first community members of the Avalanche HUB, home to one of the most influential communities in the blockchain space.
If we look at the values produced by Avalanche HUB, which has been growing continuously for more than four years, as of April 2024, 28,000 registered HUB members have completed nearly 8,000 team tasks to date. Avalanche HUB continues to spread the Avalanche ecosystem with 2,200 daily active social miners on Telegram, Twitter and Reddit.
The numbers generated by Avalanche HUB on X are also very striking. 6734 Avalanche HUB member users with more than 1 million engagements generated more than 54.5 million impressions.
The breakdown of Avalanche Hub's community members by country, blockchain skills, and professional skills is also remarkable.
The infographic above outlines one of the most influential aspects of the Avalanche HUB. During the testing of the Avalanche network in 2020, social miners tested their technical knowledge and skills as validators.
Social Mining HUBs allow you to go beyond your existing skills. They are like multi-program schools.
The average social miner uses Canva and Photoshop, learns grammar and English spelling, and learns how to install and run many programs on their PC. They develop the PC skills required by blockchain technology.
If you search for what distinguishes the Avalanche project from other layer 1 projects, in addition to its technical superiority, you will definitely see the influential community among its features. This is realised through DAO Labs' social mining.
Avalanche Hub has a reward mechanism that incentivises effective user engagement. For example, community members with Project tokens can contribute to the network's security by staking and receiving rewards.
Developers or web designers provide technical support by checking for bugs or participating in testnets when needed. Business developers seek collaborations and partnerships that will benefit the project's expansion.
Social miners can earn rewards for sharing developments in the ecosystem on social media. REP points incentivise those who perform quality tasks.
Here is the joyful, sincere content produced by Avalanche HUB social miners in all their sincerity.
Check out how Avalanche HUB members show loyalty to their project on their X profiles.
Everyone is wearing their Avalanche hat.
You can find hundreds of such products on the Avalanche's official Twitter page.
Let's summarise how the collaboration between DAO Labs Social Mining and the Avalanche AVAX project created an "AVALANCHE":
The most important result achieved with establishing the Avalanche HUB is undoubtedly the adoption and awareness of the Avalanche project. By encouraging HUB members to create and share content about Avalanche's technology, use cases, and ecosystem developments, the HUB has increased the project's reach and visibility in the broader blockchain community. This increased awareness has attracted new users, developers, and investors to the Avalanche ecosystem, accelerating its growth and adoption.
The Avalanche HUB has created a fertile ground for innovation and collaboration within the Avalanche ecosystem. The social mining platform catalysed creative experimentation, idea sharing and collaborative problem-solving by bringing together a diverse community of developers, entrepreneurs and enthusiasts. This collaborative ethos has led to new DeFi protocols, decentralised applications, and ecosystem integrations, making the Avalanche ecosystem a giant and propelling it towards its vision of becoming a leading blockchain platform.
Conclusion:
Blockchain technology has brought the financial and technological world its latest revolution with the potential to provide a decentralised and trusted structure.
However, like any revolution, it has come with many issues that need to be completed and processed.
In addition to ensuring the continuous technological development of blockchain projects, we also need to make progress on the issue of mass adoption.
From this perspective, the real solution to the 2 major handicaps of blockchain projects and cryptocurrency - volatility and sustainability - lies in large, informed and loyal holder communities. Social Mining has always played and will continue to play a critical role in creating these communities.
As one of the first social miners of Avalanche HUB, I would like to express my deep gratitude to the founding leader of the Avalanche $AVAX project, esteemed professor Emin Gün Sirer and the AVA Lab Core team, who designed this excellent network project of which I am proud to be a citizen. Avalanche HUB was our baby; in these four years, it has grown into a giant adult ecosystem HUB. And, of course, I would like to pay my respects to the 2 managers, dear Giuseppe and Yusuf Emre, who have worked with incredible dedication since the day Avalanche HUB opened.
N.ipek Celik DYOR
The decrease in #Bitcoin sales is joyful news for everyone who has invested in #Crypto
Because even though altcoins are not precisely parallel, they always follow BTC.
$BTC is the direction of the overall trend.
Your news is promising, thank you. 🤩
Perhaps what drives BTC miners to hold behaviour is the positive approach of Trump, leading the presidential race in the United States, to crypto. Because of the #SEC For US citizens, crypto is still a risky and legally problematic investment tool.
Because even though altcoins are not precisely parallel, they always follow BTC.
$BTC is the direction of the overall trend.
Your news is promising, thank you. 🤩
Perhaps what drives BTC miners to hold behaviour is the positive approach of Trump, leading the presidential race in the United States, to crypto. Because of the #SEC For US citizens, crypto is still a risky and legally problematic investment tool.
LIVEHardaeborla
--
US Bitcoin Miners Now Storing Their Bitcoins: What's In Store For Social Miners and Crypto Earners?
Hello!! I hope you're doing well. I'm thrilled to have you here on my blog today. It means a lot to have such wonderful readers like you. Thank you for stopping by 🙂❤️
Bitcoin mining remains one of the most prevalent methods for acquiring or earning Bitcoin. However, it's essential to acknowledge its significant energy consumption and the specific machine and computer requirements involved.
Bitcoin mining is the process by which new Bitcoin transactions are added to the blockchain, validating and securing them using computational power. This process, while essential for the cryptocurrency ecosystem, is notorious for its high energy demands. Miners compete to solve complex mathematical puzzles also known as Algorithms, and the first to solve each puzzle validates the transactions and earns newly minted $BTC BTC as a reward.
In previous years, many Bitcoin miners made a living by solving complex algorithms and earning Bitcoin ($BTC ) through a process known as Proof of Work (PoW). This method involves validating transactions and securing the Bitcoin network, for which miners are rewarded with newly minted BTC which are later sold in the market.
The New Trend By US Bitcoin Miners
An astonishing trend has emerged among US Bitcoin miners, with companies like Marathon Digital Holdings choosing to mine and hold (HODL) their Bitcoin rather than selling it in the market. Last month (June), Marathon Digital Holdings refrained from selling any of their mined Bitcoin, adhering to a strategy that prioritizes accumulation over liquidation.
This holding strategy isn't unique to Marathon Digital Holdings. Riot Platforms has also demonstrated a strong commitment to HODLing, not having sold any BTC since January. CleanSpark which is also another notable US miner, has only sold nominal amounts of Bitcoin, reflecting a similar approach. The decision to hold rather than sell mined Bitcoin is influenced by several factors. Primarily, these companies may be anticipating a future increase in Bitcoin's value, choosing to build a substantial reserve of BTC in anticipation of higher prices. By holding their Bitcoin, these miners are positioning themselves to potentially realize greater profits in the long term compared to selling at current market prices.
In a recent interview with Cointelegraph, Marathon’s chief financial officer Salman Khan shared his perspective on Bitcoin as a valuable digital asset. He emphasized that Bitcoin can remain on the balance sheet without incurring storage costs. Khan also stated that Marathon does not need to sell its Bitcoin monthly, as the company strongly believes Bitcoin will reach a new all-time high over time.
Despite Marathon Digital Holdings owning about 18,536 Bitcoin worth over $1 billion, up 48% from 2023's total of 12,538, the company’s confidence in Bitcoin's future value prevents them from selling. They view Bitcoin as a valuable asset that has the potential to appreciate significantly.
The strategy adopted by US Bitcoin miners like Marathon Digital Holdings, Riot Platforms, and CleanSpark to mine and HODL their Bitcoin reflects a calculated bet on the future value of BTC. By choosing to accumulate rather than sell, these companies are positioning themselves for potential long-term gains and contributing to the evolving dynamics of the cryptocurrency market.
An Advantage For Crypto Earners
Did you know that it's possible to own certain cryptocurrencies without spending any money? Thanks to Web3, this has become more feasible in the crypto space.
Earning Through Decentralized Social Media Platforms
Some crypto enthusiasts earn cryptocurrency through decentralized social media platforms like Steemit, Hive, Leofinance, Neoxian.city, Publish0x, and many others. These platforms offer the opportunity to earn cryptocurrency whenever users create content.
This model provides an alternative to centralized social media platforms, where content creators often rely on advert revenue or sponsorships. Instead, decentralized platforms reward users directly, fostering a more equitable distribution of value. It also empowers creators, giving them control over their earnings and reducing dependence on centralized authorities.
Earning Through Crypto Airdrops
Some users also earn cryptocurrency by participating in airdrops, which require them to complete certain tasks to earn valuable rewards. However, it's important to be cautious, as there are many scams and non-genuine projects that use this strategy to exploit users without providing rewards in return.
Airdrops typically involve distributing free tokens to users who complete specific tasks, such as following social media accounts, sharing posts, or joining online communities via Discord, Telegram and others. These tasks can be relatively simple and offer participants a chance to earn valuable crypto rewards. Airdrops are often used by new projects to build community engagement, increase awareness, and distribute tokens widely.
Earning Through Social Mining
Since Web3 is revolutionizing decentralization in the crypto community, a new concept known as Social Mining has emerged, particularly within DAOVERSE, a type of Decentralized Autonomous Organization (DAO). Social Mining has been adopted by various Web3 and cryptocurrency projects, including KAVA, TON, Polygon, WAX, AVAX, and DAOLabs. This model allows Web3 enthusiasts, also known as Social Miners, to contribute to these projects and earn valuable cryptocurrency rewards for their efforts.
Social Mining utilizes blockchain technology to transparently reward individuals for their contributions to DAOs and decentralized ecosystems. Unlike traditional airdrops, which involves computational tasks, Social Mining focuses on social contributions such as content creation, community engagement, and network promotion. These activities enhance project visibility, foster community growth, and drive ecosystem development.
Social Mining stands at the forefront of Web3 innovation, offering a transformative approach to community engagement and value distribution. By rewarding contributions beyond mere computational power, Social Mining pioneers a new era of inclusive participation and decentralized growth in the cryptocurrency ecosystem.
Tap Tap Tap
Another recent method of earning cryptocurrency is through playing Telegram Games, where users tap their smartphone screens to earn valuable rewards. This innovation is made possible by TON Blockchain, showcasing a significant advancement in Blockchain Technology and Web3.
Telegram Games represent a pioneering integration of blockchain technology into everyday interactions on messaging platforms. These games allow users to earn valuable cryptocurrency rewards simply by tapping their smartphone screens and engaging in gameplay. This innovative approach doesn't only gamify the process of earning cryptocurrency but also demonstrates the versatility and potential of decentralized technologies and thanks to TON for making this possible.
What's In Store For Crypto Earners & Social Miners?
The volatility of Bitcoin often influences the entire crypto space, affecting the prices of other altcoins. Despite this, crypto earners find ways to manage their profits and losses amidst market conditions. The drastic fall of Bitcoin, or a Bitcoin crash, is typically triggered by large-scale selling or dumping of Bitcoin, often in response to specific news or FUD (Fear, Uncertainty, Doubt) against Bitcoin. Conversely, Bitcoin's rise can be fueled by significant buybacks from believers in the cryptocurrency.
The decision of US miners to hold onto their Bitcoins can indeed have a significant impact on its price, potentially increasing its worth and value over time. This reduced selling pressure from miners could contribute to Bitcoin's appreciation. As a result, social miners and other crypto earners may see increased rewards for their contributions to the crypto space, further enhancing the value of cryptocurrencies overall.
Share Your Opinion
Since most US Bitcoin Miners are now keen on holding their Bitcoins rather than selling their Bitcoins. How do you think this will affect the Cryptocurrency space? Do you think other Bitcoin miners in other countries would adopt the same action? How do you think this will affect other Cryptocurrency earners? Share your view in the comment section.
Reference Links
https://cointelegraph.com/news/us-bitcoin-miners-hodl-btc-pricehttps://docs.daolabs.com/social-mining-docs
Thank You for your time and I hope you have a great day ahead with love from @Hardaeborla
#Bitcoin❗ #DAOVERSE #SocialMining #CryptoNewss #cryptocurrency
Bitcoin mining remains one of the most prevalent methods for acquiring or earning Bitcoin. However, it's essential to acknowledge its significant energy consumption and the specific machine and computer requirements involved.
Bitcoin mining is the process by which new Bitcoin transactions are added to the blockchain, validating and securing them using computational power. This process, while essential for the cryptocurrency ecosystem, is notorious for its high energy demands. Miners compete to solve complex mathematical puzzles also known as Algorithms, and the first to solve each puzzle validates the transactions and earns newly minted $BTC BTC as a reward.
In previous years, many Bitcoin miners made a living by solving complex algorithms and earning Bitcoin ($BTC ) through a process known as Proof of Work (PoW). This method involves validating transactions and securing the Bitcoin network, for which miners are rewarded with newly minted BTC which are later sold in the market.
The New Trend By US Bitcoin Miners
An astonishing trend has emerged among US Bitcoin miners, with companies like Marathon Digital Holdings choosing to mine and hold (HODL) their Bitcoin rather than selling it in the market. Last month (June), Marathon Digital Holdings refrained from selling any of their mined Bitcoin, adhering to a strategy that prioritizes accumulation over liquidation.
This holding strategy isn't unique to Marathon Digital Holdings. Riot Platforms has also demonstrated a strong commitment to HODLing, not having sold any BTC since January. CleanSpark which is also another notable US miner, has only sold nominal amounts of Bitcoin, reflecting a similar approach. The decision to hold rather than sell mined Bitcoin is influenced by several factors. Primarily, these companies may be anticipating a future increase in Bitcoin's value, choosing to build a substantial reserve of BTC in anticipation of higher prices. By holding their Bitcoin, these miners are positioning themselves to potentially realize greater profits in the long term compared to selling at current market prices.
In a recent interview with Cointelegraph, Marathon’s chief financial officer Salman Khan shared his perspective on Bitcoin as a valuable digital asset. He emphasized that Bitcoin can remain on the balance sheet without incurring storage costs. Khan also stated that Marathon does not need to sell its Bitcoin monthly, as the company strongly believes Bitcoin will reach a new all-time high over time.
Despite Marathon Digital Holdings owning about 18,536 Bitcoin worth over $1 billion, up 48% from 2023's total of 12,538, the company’s confidence in Bitcoin's future value prevents them from selling. They view Bitcoin as a valuable asset that has the potential to appreciate significantly.
The strategy adopted by US Bitcoin miners like Marathon Digital Holdings, Riot Platforms, and CleanSpark to mine and HODL their Bitcoin reflects a calculated bet on the future value of BTC. By choosing to accumulate rather than sell, these companies are positioning themselves for potential long-term gains and contributing to the evolving dynamics of the cryptocurrency market.
An Advantage For Crypto Earners
Did you know that it's possible to own certain cryptocurrencies without spending any money? Thanks to Web3, this has become more feasible in the crypto space.
Earning Through Decentralized Social Media Platforms
Some crypto enthusiasts earn cryptocurrency through decentralized social media platforms like Steemit, Hive, Leofinance, Neoxian.city, Publish0x, and many others. These platforms offer the opportunity to earn cryptocurrency whenever users create content.
This model provides an alternative to centralized social media platforms, where content creators often rely on advert revenue or sponsorships. Instead, decentralized platforms reward users directly, fostering a more equitable distribution of value. It also empowers creators, giving them control over their earnings and reducing dependence on centralized authorities.
Earning Through Crypto Airdrops
Some users also earn cryptocurrency by participating in airdrops, which require them to complete certain tasks to earn valuable rewards. However, it's important to be cautious, as there are many scams and non-genuine projects that use this strategy to exploit users without providing rewards in return.
Airdrops typically involve distributing free tokens to users who complete specific tasks, such as following social media accounts, sharing posts, or joining online communities via Discord, Telegram and others. These tasks can be relatively simple and offer participants a chance to earn valuable crypto rewards. Airdrops are often used by new projects to build community engagement, increase awareness, and distribute tokens widely.
Earning Through Social Mining
Since Web3 is revolutionizing decentralization in the crypto community, a new concept known as Social Mining has emerged, particularly within DAOVERSE, a type of Decentralized Autonomous Organization (DAO). Social Mining has been adopted by various Web3 and cryptocurrency projects, including KAVA, TON, Polygon, WAX, AVAX, and DAOLabs. This model allows Web3 enthusiasts, also known as Social Miners, to contribute to these projects and earn valuable cryptocurrency rewards for their efforts.
Social Mining utilizes blockchain technology to transparently reward individuals for their contributions to DAOs and decentralized ecosystems. Unlike traditional airdrops, which involves computational tasks, Social Mining focuses on social contributions such as content creation, community engagement, and network promotion. These activities enhance project visibility, foster community growth, and drive ecosystem development.
Social Mining stands at the forefront of Web3 innovation, offering a transformative approach to community engagement and value distribution. By rewarding contributions beyond mere computational power, Social Mining pioneers a new era of inclusive participation and decentralized growth in the cryptocurrency ecosystem.
Tap Tap Tap
Another recent method of earning cryptocurrency is through playing Telegram Games, where users tap their smartphone screens to earn valuable rewards. This innovation is made possible by TON Blockchain, showcasing a significant advancement in Blockchain Technology and Web3.
Telegram Games represent a pioneering integration of blockchain technology into everyday interactions on messaging platforms. These games allow users to earn valuable cryptocurrency rewards simply by tapping their smartphone screens and engaging in gameplay. This innovative approach doesn't only gamify the process of earning cryptocurrency but also demonstrates the versatility and potential of decentralized technologies and thanks to TON for making this possible.
What's In Store For Crypto Earners & Social Miners?
The volatility of Bitcoin often influences the entire crypto space, affecting the prices of other altcoins. Despite this, crypto earners find ways to manage their profits and losses amidst market conditions. The drastic fall of Bitcoin, or a Bitcoin crash, is typically triggered by large-scale selling or dumping of Bitcoin, often in response to specific news or FUD (Fear, Uncertainty, Doubt) against Bitcoin. Conversely, Bitcoin's rise can be fueled by significant buybacks from believers in the cryptocurrency.
The decision of US miners to hold onto their Bitcoins can indeed have a significant impact on its price, potentially increasing its worth and value over time. This reduced selling pressure from miners could contribute to Bitcoin's appreciation. As a result, social miners and other crypto earners may see increased rewards for their contributions to the crypto space, further enhancing the value of cryptocurrencies overall.
Share Your Opinion
Since most US Bitcoin Miners are now keen on holding their Bitcoins rather than selling their Bitcoins. How do you think this will affect the Cryptocurrency space? Do you think other Bitcoin miners in other countries would adopt the same action? How do you think this will affect other Cryptocurrency earners? Share your view in the comment section.
Reference Links
https://cointelegraph.com/news/us-bitcoin-miners-hodl-btc-pricehttps://docs.daolabs.com/social-mining-docs
Thank You for your time and I hope you have a great day ahead with love from @Hardaeborla
#Bitcoin❗ #DAOVERSE #SocialMining #CryptoNewss #cryptocurrency
$ETH #ETF s are a significant milestone for the crypto market.
LIVEGuvenerZoe
--
Spot Ethereum ETF – SEC, Eric Balchunas, and the story of a launch
As a @DAO Labs #SocialMining enthusiast, I closely follow $ETH , $BTC and altcoins such as $BNB , #AVAX✅ , #MATIC✅ and #KAVA that are already buzzwords among the discerning investors and traders. Eric Balchunas of Bloomberg seems very sure that July 18 2024 will be the date for the spot Ethereum ETF launch. $ETHE, $CETH, $ETHA and $ETHV are already named but Invesco Galaxy, Franklin, Bitwise, and PRO Shares III have also either registered or updated their registrations.
Source: SEC EDGAR, July 13, 2024, for educational purposes only
So, what does that mean? Who and what are these? If you are asking yourself these, you are not alone. As I am a beginner myself, I have been trying to understand through reading and research. Let us explore together to see if we can make sense of all these names and figures.
To start with, the Dramatis Personae:
SEC, or the Securities and Exchange Commission. Currently chaired by Gary Gensler, SEC is responsible for looking after investor interests by policing the securities markets.
Ethereum. After Bitcoin, the most important cryptocurrency. In addition to its native Ether coin, its blockchain includes decentralized apps (Dapps) and non-fungible tokens (NFTs). (Let me know if you would like to know more about these, and I will write a separate article.) Since 2022, Ethereum has been using a system of coin creation called Proof of Stake (Basically, if you want to validate someone’s work, you need to stake your own coins first and this collateral is proof of your good faith, as you would lose more than you gain). This PoS makes it faster.
ETF. Exchange-traded fund. Simply means you can use it to trade on the exchange markets.
Spot ETFs (Exchange-Traded Funds). If you hold a spot exchange-traded fund, you actually hold an asset. These could be cryptocurrencies, stocks, commodities or bonds. So, your asset price will reflect the current immediately available price of the asset.
Strategy ETFs (or Thematic ETFs). If you hold a strategy asset, you do not actually hold the asset. You use other trading tools, such as a futures contract. So the value of your asset will NOT reflect the current immediately available price of the asset.
Eric Balchunas (on X, @EricBalchunas): A senior ETF Analyst for Bloomberg, Eric Balchunas is known for accurately predicting some key ETF-related events.
$ETHE – Grayscale Investments’ product tied to ETH. Not an altcoin.
$CETH – 21Shares Core Ethereum ETF is another product tied to ETH. Not an altcoin.
$ETHA – iShares Ethereum Trust ETF is a third product tied to ETH. Not an altcoin.
$ETHV – VanEck's Ethereum ETF is yet another product tied to ETH. Not an altcoin.
So, these are our key named players. What do they do? Why should you care?
Cryptocurrencies are finally looking like they are here to stay, and more and more of the key players from previously skeptical sectors want a piece of the action. Following the success of Bitcoin ETFs, analysts such as the inimitable Mr Balchunas predict “ETH could capture up to 20% of the assets under management (AUM) that BTC ETFs have ”(See Source 5). Additionally, Spot ETFs are expected to open the crypto markets to investors who are not allowed to trade in crypto, such as 410(k) and IRA investors.
Are there disadvantages in spot Ethereum ETFs? Like with everything else in the world, yes. You cannot get staking rewards for your investment. Since these rewards themselves could be sizable, it is a choice you will need to make.
We as the Social Mining Community know that BTC is digital gold, and that ETH EFTs will break the door wide open for the altcoins we love and trust - BNB, AVAX, MATIC, KAVA, TON. Social Mining is for all markets bearish or bullish, but we do have our own projects that we root for.
It is an exciting time. With a potential Solana ETF move in the works, it could get truly lively. And, you. How will you go forward? What is your next move? Do tell!
Disclaimer: All the information provided in this article are for informative and educational purposes, and are not intended as financial advice. Any trades bear the risk of partial or total financial losses and must be approached with utmost caution. DYOR!
Sources:
SECNerdwalletNasdaqCointelegraphCryptopotato
Source: SEC EDGAR, July 13, 2024, for educational purposes only
So, what does that mean? Who and what are these? If you are asking yourself these, you are not alone. As I am a beginner myself, I have been trying to understand through reading and research. Let us explore together to see if we can make sense of all these names and figures.
To start with, the Dramatis Personae:
SEC, or the Securities and Exchange Commission. Currently chaired by Gary Gensler, SEC is responsible for looking after investor interests by policing the securities markets.
Ethereum. After Bitcoin, the most important cryptocurrency. In addition to its native Ether coin, its blockchain includes decentralized apps (Dapps) and non-fungible tokens (NFTs). (Let me know if you would like to know more about these, and I will write a separate article.) Since 2022, Ethereum has been using a system of coin creation called Proof of Stake (Basically, if you want to validate someone’s work, you need to stake your own coins first and this collateral is proof of your good faith, as you would lose more than you gain). This PoS makes it faster.
ETF. Exchange-traded fund. Simply means you can use it to trade on the exchange markets.
Spot ETFs (Exchange-Traded Funds). If you hold a spot exchange-traded fund, you actually hold an asset. These could be cryptocurrencies, stocks, commodities or bonds. So, your asset price will reflect the current immediately available price of the asset.
Strategy ETFs (or Thematic ETFs). If you hold a strategy asset, you do not actually hold the asset. You use other trading tools, such as a futures contract. So the value of your asset will NOT reflect the current immediately available price of the asset.
Eric Balchunas (on X, @EricBalchunas): A senior ETF Analyst for Bloomberg, Eric Balchunas is known for accurately predicting some key ETF-related events.
$ETHE – Grayscale Investments’ product tied to ETH. Not an altcoin.
$CETH – 21Shares Core Ethereum ETF is another product tied to ETH. Not an altcoin.
$ETHA – iShares Ethereum Trust ETF is a third product tied to ETH. Not an altcoin.
$ETHV – VanEck's Ethereum ETF is yet another product tied to ETH. Not an altcoin.
So, these are our key named players. What do they do? Why should you care?
Cryptocurrencies are finally looking like they are here to stay, and more and more of the key players from previously skeptical sectors want a piece of the action. Following the success of Bitcoin ETFs, analysts such as the inimitable Mr Balchunas predict “ETH could capture up to 20% of the assets under management (AUM) that BTC ETFs have ”(See Source 5). Additionally, Spot ETFs are expected to open the crypto markets to investors who are not allowed to trade in crypto, such as 410(k) and IRA investors.
Are there disadvantages in spot Ethereum ETFs? Like with everything else in the world, yes. You cannot get staking rewards for your investment. Since these rewards themselves could be sizable, it is a choice you will need to make.
We as the Social Mining Community know that BTC is digital gold, and that ETH EFTs will break the door wide open for the altcoins we love and trust - BNB, AVAX, MATIC, KAVA, TON. Social Mining is for all markets bearish or bullish, but we do have our own projects that we root for.
It is an exciting time. With a potential Solana ETF move in the works, it could get truly lively. And, you. How will you go forward? What is your next move? Do tell!
Disclaimer: All the information provided in this article are for informative and educational purposes, and are not intended as financial advice. Any trades bear the risk of partial or total financial losses and must be approached with utmost caution. DYOR!
Sources:
SECNerdwalletNasdaqCointelegraphCryptopotato
wow!
LIVEDAO Labs
--
Themy's Social Mining Success: A Case Study of Earning on DAOLabs
Greetings Binance Square Users! Today I have someone I want to talk about as an example; Themy.
Themy has shown great ambition and success this month, earning $22.53 worth of $MATIC on the #DAOLabs ' #SocialMining platform of @Polygon , #PolygonHub . I congratulate her on her success and wish her to set an example.
So, how did Themy get this profit? By completing tasks on DAO Labs, a platform supported by the community. On any of the platforms hosted by DAO Labs, we can select the task from the task section and earn points from the platform by fulfilling the specified conditions and convert these points into cryptocurrency.
Regardless of the direction of the general trend in the Social Mining crypto market, it gives rewards that will be a fixed side-hustle to social miners in the community during the Bear Season or Bull Season.
We can hear you wondering, how are these points earned and how do they accumulate? You can ask for support (Reposts and Likes) when you complete the task through DAO Labs' Telegram and Discord channels, so that the helpful users of DAO Labs, which is an integrated community, can increase the points you receive by interacting with your tweets.
Themy's success is the kind of achievement that can lead the community and encourage our other community members. Themy and many more examples like him will be coming soon, so stay tuned! In addition, you can follow us on DAO Labs' official Telegram address and join us on Discord to stay up to date with the latest news!
Themy has shown great ambition and success this month, earning $22.53 worth of $MATIC on the #DAOLabs ' #SocialMining platform of @Polygon , #PolygonHub . I congratulate her on her success and wish her to set an example.
So, how did Themy get this profit? By completing tasks on DAO Labs, a platform supported by the community. On any of the platforms hosted by DAO Labs, we can select the task from the task section and earn points from the platform by fulfilling the specified conditions and convert these points into cryptocurrency.
Regardless of the direction of the general trend in the Social Mining crypto market, it gives rewards that will be a fixed side-hustle to social miners in the community during the Bear Season or Bull Season.
We can hear you wondering, how are these points earned and how do they accumulate? You can ask for support (Reposts and Likes) when you complete the task through DAO Labs' Telegram and Discord channels, so that the helpful users of DAO Labs, which is an integrated community, can increase the points you receive by interacting with your tweets.
Themy's success is the kind of achievement that can lead the community and encourage our other community members. Themy and many more examples like him will be coming soon, so stay tuned! In addition, you can follow us on DAO Labs' official Telegram address and join us on Discord to stay up to date with the latest news!
Polygon ( $Matic )is a project that should be taken as an example regarding contributions to blockchain technology in a #crypto project.
LIVEVictoria Flores-OriaOres
--
Polygon Governance Hub
Polygon Governance Hub is a comprehensive governance solution that seeks to make governance more decentralized and efficient, with the participation of members contributing ideas in the construction of Polygon.
Initially the Governance Hub will focus on two of the three pillars of @Polygon governance:
Governance of the protocol: Builders and community members can propose Polygon Improvements (PIPs), facilitating updates to Polygon protocols, and ecosystem consensus, in a process comparable to the governance of the Ethereum protocol.
Governance of the system's smart contracts SSC: Facilitates L1 smart contract updates required for Polygon to function.
These updates take advantage of the PIP framework, and the Polygon Protocol Council, a community-controlled body, guarantor of scalable, secure and decentralized governance.
#Polygon #PolygonHub $MATIC #SocialMining #Web3
Initially the Governance Hub will focus on two of the three pillars of @Polygon governance:
Governance of the protocol: Builders and community members can propose Polygon Improvements (PIPs), facilitating updates to Polygon protocols, and ecosystem consensus, in a process comparable to the governance of the Ethereum protocol.
Governance of the system's smart contracts SSC: Facilitates L1 smart contract updates required for Polygon to function.
These updates take advantage of the PIP framework, and the Polygon Protocol Council, a community-controlled body, guarantor of scalable, secure and decentralized governance.
#Polygon #PolygonHub $MATIC #SocialMining #Web3
Solana is one of the main pillars of cryptocurrency projects.
LIVEAuthor-of-all-Things-Written
--
Understanding Solana ($SOL)
Introduction to Solana:
Solana is a cutting-edge open-source project leveraging blockchain technology to offer decentralized finance (DeFi) solutions. Although the project started in 2017, the official launch took place in March 2020, spearheaded by the Solana Foundation based in Geneva, Switzerland.
Solana has attracted many users globally and it caught my attention to put this article together. Having seen several projects also, through #SocialMining reaching greater heights, it becomes paramount that #Solana has the potential to scale higher through its decentralized community, and the likes of #DAOLabs plays a vital role in making such developments.
Exploring Solana's Protocol:
It has been well designed to enhance the creation of decentralized applications (DApps), Solana's protocol combines proof-of-history (PoH) with a proof-of-stake (PoS) consensus mechanism to boost scalability and efficiency. This innovative approach has established Solana as a significant player in the cryptocurrency sector, particularly for memecoins, with over a million tokens created on its platform in the past year alone.
Founders:
Solana was founded by Anatoly Yakovenko and Greg Fitzgerald, both of whom bring extensive professional experience to the project.
Unique Features of Solana:
Solana introduces the proof-of-history (PoH) consensus, an innovation by Anatoly Yakovenko that significantly enhances the protocol's scalability and usability. The blockchain is renowned for its rapid processing times, making it attractive to both individual and institutional users. Solana's hybrid consensus protocol dramatically reduces validation times for transactions and smart contracts, contributing to its growing popularity.
A key promise of #Solana is to maintain low transaction costs without compromising on scalability and speed, making it suitable for a wide range of users from small-scale participants to large enterprises. As of September 2021, Solana is ranked seventh on #CoinMarketCap, reflecting its strong market presence.
Network Security:
Solana's network security is underpinned by its unique combination of proof-of-history (PoH) and proof-of-stake (PoS) consensus mechanisms.
Circulation and Distribution:
The Solana Foundation has announced a total circulation of 489 million $SOL tokens, with approximately 260 million currently in the market. The distribution includes:
- 16.23% Initial seed sale- 12.92% Founding sale- 12.79% Team members- 10.46% Solana Foundation
The remaining tokens are allocated for public and private sales or are yet to be released.
Purchasing SOL Tokens:
Solana tokens ($SOL) are available on major exchanges, including:
Binance, with the highest trading volume for SOL/USDTCoinbaseBilaxyHuobi Global
These platforms facilitate extensive trading opportunities for $SOL tokens.
What do you make of Solana?
Solana is a cutting-edge open-source project leveraging blockchain technology to offer decentralized finance (DeFi) solutions. Although the project started in 2017, the official launch took place in March 2020, spearheaded by the Solana Foundation based in Geneva, Switzerland.
Solana has attracted many users globally and it caught my attention to put this article together. Having seen several projects also, through #SocialMining reaching greater heights, it becomes paramount that #Solana has the potential to scale higher through its decentralized community, and the likes of #DAOLabs plays a vital role in making such developments.
Exploring Solana's Protocol:
It has been well designed to enhance the creation of decentralized applications (DApps), Solana's protocol combines proof-of-history (PoH) with a proof-of-stake (PoS) consensus mechanism to boost scalability and efficiency. This innovative approach has established Solana as a significant player in the cryptocurrency sector, particularly for memecoins, with over a million tokens created on its platform in the past year alone.
Founders:
Solana was founded by Anatoly Yakovenko and Greg Fitzgerald, both of whom bring extensive professional experience to the project.
Unique Features of Solana:
Solana introduces the proof-of-history (PoH) consensus, an innovation by Anatoly Yakovenko that significantly enhances the protocol's scalability and usability. The blockchain is renowned for its rapid processing times, making it attractive to both individual and institutional users. Solana's hybrid consensus protocol dramatically reduces validation times for transactions and smart contracts, contributing to its growing popularity.
A key promise of #Solana is to maintain low transaction costs without compromising on scalability and speed, making it suitable for a wide range of users from small-scale participants to large enterprises. As of September 2021, Solana is ranked seventh on #CoinMarketCap, reflecting its strong market presence.
Network Security:
Solana's network security is underpinned by its unique combination of proof-of-history (PoH) and proof-of-stake (PoS) consensus mechanisms.
Circulation and Distribution:
The Solana Foundation has announced a total circulation of 489 million $SOL tokens, with approximately 260 million currently in the market. The distribution includes:
- 16.23% Initial seed sale- 12.92% Founding sale- 12.79% Team members- 10.46% Solana Foundation
The remaining tokens are allocated for public and private sales or are yet to be released.
Purchasing SOL Tokens:
Solana tokens ($SOL) are available on major exchanges, including:
Binance, with the highest trading volume for SOL/USDTCoinbaseBilaxyHuobi Global
These platforms facilitate extensive trading opportunities for $SOL tokens.
What do you make of Solana?
Welcome DAO Dragon 😍
LIVEMetaverseJR
--
A Digital Dragon in the Digital Age: DAO Dragon
Even as $BTC crushes all #altcoins , social miners are at it again. Most of my fellow @DAO Labs social miners, including me, have completed about 10 weeks of challenge rounds. More precisely, I will be completing it now. Let's see if you like my work this time 😉
Our last task at Daoversian Decathlon was to design a mascot for a project in the DaoLabs social mining galaxy. I had chosen 3 projects on the first day of the task. I even said that I would suggest 1 mascot for all of them. My dreams are Paris... of course 😂
Our task in the SSMM final round kept me very busy. Especially when my opponent was @Senator Skelz ... 🤝Anyway, we both submitted our work and are eagerly awaiting the results to be announced.
Now it's time to focus on the final task. From the beginning, I was focused on $MATIC , #ton_blockchain , and #DAOVERSE projects, and I had even chosen characters based on the main characteristics of all these projects. But at the last moment, I went back to my roots and focused on DAOVERSE, and here is my mascot... DAO Dragon
Creation story:
#DaoLabs social miners are described as the Ninjas of #SocialMining and of course, I first wondered if I should design a NINJA mascot like the one in my profile picture. But then I reconsidered. We already have a ninja mascot somehow, even if it's a small one on our task banners. So what could it be?
Of course, the clue was right in front of me. The DAO Labs logo... Many people think our logo looks like a lion. But I saw a dragon in front of me. So I found my character, what will he be called? LABOR Dragon, DAODag, I finally decided to name him DAO Dragon.
A digital dragon in the digital age: DAO Dragon
This cute and clever character represents the innovative spirit and technological power of DAOVERSE.
Why this name?
The main reason I chose the name DAO Dragon is that I wanted to combine the organizational structure of a DAO with the mythological power and wisdom of dragons. Dragons represent wisdom, power, and change in many cultures; of course, DAOVERSE wants to do the same. It's a perfect fit.
Digital DNA
Intelligence: His bespectacled form symbolizes his ability to think analytically and strategically.Compatibility: His appearance in different roles (scientist, businessman, athlete, analyst, youth, and much more) reflects the versatility and inclusiveness of DAOVERSE and its community.Technological Progress: The network structures in the background represent blockchain technology.Strength and Growth: The muscular structure and dynamic stance show the project's forward-looking vision and growth potential.
Why did I use blue color tones?
I thought a mix of DAOLabs brand colors would be a perfect choice.
The color blue is often associated with calmness, serenity and tranquility. However, blue also represents reliability, loyalty and wisdom. In the business world, blue is often associated with professionalism, formality and reliability.
In summary, DAO Dragon will be more than a mascot and a powerful symbol that embodies the project's values, vision, and community spirit. This character will make technical topics fun and accessible while maintaining the seriousness and professionalism of the project.
Do you think DAO Dragon could be our official mascot? I look forward to your comments.
Our last task at Daoversian Decathlon was to design a mascot for a project in the DaoLabs social mining galaxy. I had chosen 3 projects on the first day of the task. I even said that I would suggest 1 mascot for all of them. My dreams are Paris... of course 😂
Our task in the SSMM final round kept me very busy. Especially when my opponent was @Senator Skelz ... 🤝Anyway, we both submitted our work and are eagerly awaiting the results to be announced.
Now it's time to focus on the final task. From the beginning, I was focused on $MATIC , #ton_blockchain , and #DAOVERSE projects, and I had even chosen characters based on the main characteristics of all these projects. But at the last moment, I went back to my roots and focused on DAOVERSE, and here is my mascot... DAO Dragon
Creation story:
#DaoLabs social miners are described as the Ninjas of #SocialMining and of course, I first wondered if I should design a NINJA mascot like the one in my profile picture. But then I reconsidered. We already have a ninja mascot somehow, even if it's a small one on our task banners. So what could it be?
Of course, the clue was right in front of me. The DAO Labs logo... Many people think our logo looks like a lion. But I saw a dragon in front of me. So I found my character, what will he be called? LABOR Dragon, DAODag, I finally decided to name him DAO Dragon.
A digital dragon in the digital age: DAO Dragon
This cute and clever character represents the innovative spirit and technological power of DAOVERSE.
Why this name?
The main reason I chose the name DAO Dragon is that I wanted to combine the organizational structure of a DAO with the mythological power and wisdom of dragons. Dragons represent wisdom, power, and change in many cultures; of course, DAOVERSE wants to do the same. It's a perfect fit.
Digital DNA
Intelligence: His bespectacled form symbolizes his ability to think analytically and strategically.Compatibility: His appearance in different roles (scientist, businessman, athlete, analyst, youth, and much more) reflects the versatility and inclusiveness of DAOVERSE and its community.Technological Progress: The network structures in the background represent blockchain technology.Strength and Growth: The muscular structure and dynamic stance show the project's forward-looking vision and growth potential.
Why did I use blue color tones?
I thought a mix of DAOLabs brand colors would be a perfect choice.
The color blue is often associated with calmness, serenity and tranquility. However, blue also represents reliability, loyalty and wisdom. In the business world, blue is often associated with professionalism, formality and reliability.
In summary, DAO Dragon will be more than a mascot and a powerful symbol that embodies the project's values, vision, and community spirit. This character will make technical topics fun and accessible while maintaining the seriousness and professionalism of the project.
Do you think DAO Dragon could be our official mascot? I look forward to your comments.
Excellent research, Congrats Meta!
I was very informed and understood the reasons why Binance supports Rango.
I was very informed and understood the reasons why Binance supports Rango.
LIVEMetaverseJR
--
Binance Labs and Rango: Cross-Chain Innovation in the Web3 Era
$ARKM $LISTA $GMT
Binance Labs, the venture capital and incubation arm of the world's largest cryptocurrency exchange, continues to invest in Web3 technologies. As a @DAO Labs social miner, I analyzed @Binance Labs ' investment portfolio tested the implementation of its latest investment #RangoExchange and gave my opinion on the project. So what does this investment mean for the evolution of cross-chain technologies and decentralized finance (DeFi)? Let's take a look at all the details together.
Part 1: Binance Labs Portfolio Analysis: Value-Creating Investments in the Crypto World
With a focus on fostering growth in the blockchain industry, Binance Labs has always proven to be effective in supporting and investing in promising cryptocurrency projects.
Key Stats:
The portfolio covers more than 250 projects from more than 25 countries around the world,The impressive average return on investment of 14x,50% of these projects have gone through comprehensive incubation programs.
Binance Labs' Return on Investment (ROI) Comparison
When we look at Binance Labs' portfolio in general, we see that it consists of projects with excellent returns. Especially when Retail ROI is considered, projects such as MATIC, AXS, EGLD, SAND, ARKM, LISTA, ID, GMT, EDU, and CTSI stand out with their very high ROI.
This chart also shows that the 2019-2022 period launches (other than Arkham, Lista DAO, ID, and EDU) have shown higher investment performance... I think the overall uptrend of the market in this period and Binance's strong ecosystem also had a big impact.
Comparing All-Time Highs (ATH) of Projects in Binance Labs' Portfolio
Until early 2022, the projects in the portfolio showed a generally positive outlook. However, the Binance Labs portfolio seems to have been negatively affected by the deterioration of the overall cryptocurrency market conditions in late 2022 and 2023 to the present.
Taking a long-term view, Binance Labs has a successful portfolio. While many projects are well below ATH levels, they still have significant volume and valuations (GMT, ALICE, ALPHA, FINE, HIGH, ONE, etc.).
Fluctuations in the Value of Coins in Binance Labs' Portfolio
Binance Labs usually invests in quality early-stage projects. The chart below shows the price fluctuations of 10 of these projects over the years.
Given the market volatility over the last five years, it may make sense to follow the projects in Binance Labs' portfolio. In the short term, I think the projects in the portfolio will react to market conditions, but in the long term, quality projects will always be at the forefront.
Part 2: Rango Exchange: Cross-Chain Solutions for a Decentralized Future
Binance Labs' investment in #Rango Exchange represents a pivotal moment in the evolution of decentralized finance (DeFi). As a cross-chain decentralized exchange (DEX) and bridge aggregator, Rango is the most important solution in the cross-chain ecosystem. Rango aims to process more than 90% of the cross-chain DeFi volume in the future, covering all major blockchains in the crypto market.
Why Rango is Important to Binance Labs
Interoperability: Rango's cross-chain capabilities address the growing need for seamless interaction between different blockchain networks
Web3 Adoption: Rango accelerates Web3 adoption by simplifying cross-chain transactions, making DeFi accessible to a wider audience.Strategic Alignment: This investment strengthens Binance's commitment to the multi-chain ecosystem, positioning it as a leader in cross-chain innovation.Improved DeFi Accessibility: Rango's integration with popular wallets and dApps enables the expansion of access to DeFi services to millions of users.
Part 3: Rango User Guide: Step-by-Step Process Bridging and User Experience
Rango's user-friendly interface and extensive blockchain support make it an ideal platform for both new and experienced users. Let's take a closer look at how to use Rango.
Especially for new users, I have prepared an infographic with screenshots of how to use the platform. If you follow the steps in this infographic, you will be able to complete your first transactions on the platform much faster and smoother. Now, I would like to share my insights from the testing phase.
When we open the application from the link https://app.rango.exchange/, a simple and familiar interface welcomes us. As an experienced user, I had no difficulty in figuring out where to set slippage settings, how to connect the wallet, and where to select the network and tokens for swaps and bridging.
When I tested the swap, the listing of options in the Routes window was quite detailed for a user like me who always prefers to do low-cost operations and put speed on the back burner. Inevitably, I felt the need to examine the list until the end and still selected the recommended option and started the process. But then I realized that there were options in the upper right part of the window and the suggestions would be listed according to my preference. I proceeded with these preferences in my next process.
Maybe it was just me because I was using the Metamask wallet during this test, but the metamask window stuck on every confirmation screen. Especially the transaction limit and the confirmation window after it did not open automatically. Since I saw a warning on the metamask application, I opened the window myself and confirmed. By the way, both my browser and Metamask versions are up to date.
Despite these minor glitches, my Linea to Avalanche bridging process went smoothly and quickly. I did the same with an Ethereum to Arbitrum swap, and it was much faster with a fraction of the estimated transaction time and cost. I'll also give you another little tip. After connecting your wallet to the application, if you examine your wallet details on the top right of the screen, you will be done with the problem of "Which token from which network can I swap". I like this feature and I'm sure it will save time for all users.
In conclusion; Rango, strengthened by Binance Labs' investment, seems to have the potential to make life easier for users in the multi-chain finance world and unlock the potential of DeFi. As a user, I can personally say that I will be doing more transactions on Rango from now on.
Sources:
CryptoRankCoinMarketCapRango Exchange UpdatesBinance Blog
Binance Labs, the venture capital and incubation arm of the world's largest cryptocurrency exchange, continues to invest in Web3 technologies. As a @DAO Labs social miner, I analyzed @Binance Labs ' investment portfolio tested the implementation of its latest investment #RangoExchange and gave my opinion on the project. So what does this investment mean for the evolution of cross-chain technologies and decentralized finance (DeFi)? Let's take a look at all the details together.
Part 1: Binance Labs Portfolio Analysis: Value-Creating Investments in the Crypto World
With a focus on fostering growth in the blockchain industry, Binance Labs has always proven to be effective in supporting and investing in promising cryptocurrency projects.
Key Stats:
The portfolio covers more than 250 projects from more than 25 countries around the world,The impressive average return on investment of 14x,50% of these projects have gone through comprehensive incubation programs.
Binance Labs' Return on Investment (ROI) Comparison
When we look at Binance Labs' portfolio in general, we see that it consists of projects with excellent returns. Especially when Retail ROI is considered, projects such as MATIC, AXS, EGLD, SAND, ARKM, LISTA, ID, GMT, EDU, and CTSI stand out with their very high ROI.
This chart also shows that the 2019-2022 period launches (other than Arkham, Lista DAO, ID, and EDU) have shown higher investment performance... I think the overall uptrend of the market in this period and Binance's strong ecosystem also had a big impact.
Comparing All-Time Highs (ATH) of Projects in Binance Labs' Portfolio
Until early 2022, the projects in the portfolio showed a generally positive outlook. However, the Binance Labs portfolio seems to have been negatively affected by the deterioration of the overall cryptocurrency market conditions in late 2022 and 2023 to the present.
Taking a long-term view, Binance Labs has a successful portfolio. While many projects are well below ATH levels, they still have significant volume and valuations (GMT, ALICE, ALPHA, FINE, HIGH, ONE, etc.).
Fluctuations in the Value of Coins in Binance Labs' Portfolio
Binance Labs usually invests in quality early-stage projects. The chart below shows the price fluctuations of 10 of these projects over the years.
Given the market volatility over the last five years, it may make sense to follow the projects in Binance Labs' portfolio. In the short term, I think the projects in the portfolio will react to market conditions, but in the long term, quality projects will always be at the forefront.
Part 2: Rango Exchange: Cross-Chain Solutions for a Decentralized Future
Binance Labs' investment in #Rango Exchange represents a pivotal moment in the evolution of decentralized finance (DeFi). As a cross-chain decentralized exchange (DEX) and bridge aggregator, Rango is the most important solution in the cross-chain ecosystem. Rango aims to process more than 90% of the cross-chain DeFi volume in the future, covering all major blockchains in the crypto market.
Why Rango is Important to Binance Labs
Interoperability: Rango's cross-chain capabilities address the growing need for seamless interaction between different blockchain networks
Web3 Adoption: Rango accelerates Web3 adoption by simplifying cross-chain transactions, making DeFi accessible to a wider audience.Strategic Alignment: This investment strengthens Binance's commitment to the multi-chain ecosystem, positioning it as a leader in cross-chain innovation.Improved DeFi Accessibility: Rango's integration with popular wallets and dApps enables the expansion of access to DeFi services to millions of users.
Part 3: Rango User Guide: Step-by-Step Process Bridging and User Experience
Rango's user-friendly interface and extensive blockchain support make it an ideal platform for both new and experienced users. Let's take a closer look at how to use Rango.
Especially for new users, I have prepared an infographic with screenshots of how to use the platform. If you follow the steps in this infographic, you will be able to complete your first transactions on the platform much faster and smoother. Now, I would like to share my insights from the testing phase.
When we open the application from the link https://app.rango.exchange/, a simple and familiar interface welcomes us. As an experienced user, I had no difficulty in figuring out where to set slippage settings, how to connect the wallet, and where to select the network and tokens for swaps and bridging.
When I tested the swap, the listing of options in the Routes window was quite detailed for a user like me who always prefers to do low-cost operations and put speed on the back burner. Inevitably, I felt the need to examine the list until the end and still selected the recommended option and started the process. But then I realized that there were options in the upper right part of the window and the suggestions would be listed according to my preference. I proceeded with these preferences in my next process.
Maybe it was just me because I was using the Metamask wallet during this test, but the metamask window stuck on every confirmation screen. Especially the transaction limit and the confirmation window after it did not open automatically. Since I saw a warning on the metamask application, I opened the window myself and confirmed. By the way, both my browser and Metamask versions are up to date.
Despite these minor glitches, my Linea to Avalanche bridging process went smoothly and quickly. I did the same with an Ethereum to Arbitrum swap, and it was much faster with a fraction of the estimated transaction time and cost. I'll also give you another little tip. After connecting your wallet to the application, if you examine your wallet details on the top right of the screen, you will be done with the problem of "Which token from which network can I swap". I like this feature and I'm sure it will save time for all users.
In conclusion; Rango, strengthened by Binance Labs' investment, seems to have the potential to make life easier for users in the multi-chain finance world and unlock the potential of DeFi. As a user, I can personally say that I will be doing more transactions on Rango from now on.
Sources:
CryptoRankCoinMarketCapRango Exchange UpdatesBinance Blog
The future of multi-chains!
LIVEDAO Labs
--
⚡️No More Network Limits at WAX
#WAXHub , #DAOLabs ' #SocialMining Community Hub for @WAX , is buzzing with its newest announcement📢
🗣Did you hear that The $WAXP x BASE #NFT Bridge is live? 🎉
🔀This incredible new feature makes moving and diversifying assets across different blockchains much easier. Connecting different blockchains is now smoother and more comprehensive.
For the WAXHub, this bridge unlocks endless possibilities by linking the @WAX blockchain with BASE. No more network limits—get ready for the future of multi-chain #NFTs !
If you're a collection owner, getting started with transfers is super easy:🆒
🔥Fire up your collection in MyCloud Wallet and prove you own it.
Any WAX collection works, whether it’s from Cloud Wallet or other wallets like Anchor.
You’ll need a destination chain address you control, with no existing smart contracts on it.
🤖Once activated, it’ll create and deploy a smart contract for your collection on the destination chain using the address you provided.
🌇The future is multi-chain, and we can’t wait to see the amazing possibilities this new bridge feature will unlock!
🗣Did you hear that The $WAXP x BASE #NFT Bridge is live? 🎉
🔀This incredible new feature makes moving and diversifying assets across different blockchains much easier. Connecting different blockchains is now smoother and more comprehensive.
For the WAXHub, this bridge unlocks endless possibilities by linking the @WAX blockchain with BASE. No more network limits—get ready for the future of multi-chain #NFTs !
If you're a collection owner, getting started with transfers is super easy:🆒
🔥Fire up your collection in MyCloud Wallet and prove you own it.
Any WAX collection works, whether it’s from Cloud Wallet or other wallets like Anchor.
You’ll need a destination chain address you control, with no existing smart contracts on it.
🤖Once activated, it’ll create and deploy a smart contract for your collection on the destination chain using the address you provided.
🌇The future is multi-chain, and we can’t wait to see the amazing possibilities this new bridge feature will unlock!
I found it worth examining 🤔👌
LIVEmarpaci
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Discovering Omni Network
Today, I would like to introduce you to a relatively new token called @OMNI Network Please note that this is not investment advice, just my personal opinion.
Omni Network [ $OMNI ) launched in April and is traded on several exchanges, including #Binance with pairs such as $BTC and #USDT From my observations, their only missing feature is not having an active community strength towards the project, which can be improved through #SocialMining contributions. They are giving the token more recognition in the crypto space with noticeable stats from @DAO Labs
Now, let's look at the technical details of the Omni token:
Omni Network ( #OMNI ):
▪️Purpose and Function:
Omni Network is a layer 1 blockchain designed to address fragmentation within the #Ethereum ecosystem. While Ethereum scales through isolated execution environments known as rollups, Omni Network is a unifying layer connecting these disparate ecosystems.
▪️Features:
- Unifying Layer: Enables developers to create global applications with default access to Ethereum's liquidity and user base.
- Security and Performance: A network that is natively secure and externally validated.
- Global Compatibility: Ensures global compatibility by unifying different ecosystems.
Omni's Historical Price Levels:
- Omni token, like almost every token listed on Binance launchpad, reached high levels on its launch day and then adjusted according to market conditions. It reached its all-time high (ATH) on April 17, 2024, at $53.81 and saw its lowest level on June 18, 2024, at $12.88. At the time of writing, it is only 10% above its lowest level, indicating potential for an upward trend.
Market Value and Token Unlocking:
- Currently, its market value is approximately $147,270,000. The token unlocks are spread out until 2028, which is a positive aspect, as it prevents inflation issues with no massive monthly token releases.
- Token Distribution (According to CMC data):
- Investors: 36.69%
- Team: 40.41%
- Advisors: 5.94%
- Public Launch: 16.95%
Omni Network stands out with its promising features and strategic token distribution.
Omni Network [ $OMNI ) launched in April and is traded on several exchanges, including #Binance with pairs such as $BTC and #USDT From my observations, their only missing feature is not having an active community strength towards the project, which can be improved through #SocialMining contributions. They are giving the token more recognition in the crypto space with noticeable stats from @DAO Labs
Now, let's look at the technical details of the Omni token:
Omni Network ( #OMNI ):
▪️Purpose and Function:
Omni Network is a layer 1 blockchain designed to address fragmentation within the #Ethereum ecosystem. While Ethereum scales through isolated execution environments known as rollups, Omni Network is a unifying layer connecting these disparate ecosystems.
▪️Features:
- Unifying Layer: Enables developers to create global applications with default access to Ethereum's liquidity and user base.
- Security and Performance: A network that is natively secure and externally validated.
- Global Compatibility: Ensures global compatibility by unifying different ecosystems.
Omni's Historical Price Levels:
- Omni token, like almost every token listed on Binance launchpad, reached high levels on its launch day and then adjusted according to market conditions. It reached its all-time high (ATH) on April 17, 2024, at $53.81 and saw its lowest level on June 18, 2024, at $12.88. At the time of writing, it is only 10% above its lowest level, indicating potential for an upward trend.
Market Value and Token Unlocking:
- Currently, its market value is approximately $147,270,000. The token unlocks are spread out until 2028, which is a positive aspect, as it prevents inflation issues with no massive monthly token releases.
- Token Distribution (According to CMC data):
- Investors: 36.69%
- Team: 40.41%
- Advisors: 5.94%
- Public Launch: 16.95%
Omni Network stands out with its promising features and strategic token distribution.
I agree with you!
LIVEGuvenerZoe
--
BlackRock to rock crypto investment sphere
As a member of #DaoLabs #SocialMining Community, I note the recent acquisition of #PreQin by @BLACKROCK is huge. It has implications for the #cryptomarket, as this move signals a change towards the giant investing into the #crypto
PreQin is a data analysis company that is worth about 240 million #USD , with a network of about 4,000 companies.
BlackRock’s Aladdin, already utilized by some 1000 investing companies in their asset management, will combine with PreQin’s research and data tools to create a user-friendly platform for asset managers. The platform is intended to make cross-checks of assets a much easier experience.
I expect the implications for the crypto market to be that there will be more investors turning to crypto as a potential asset, leading to an increase in the overall tendency towards investing in the crypto market.
The future is truly bullish!
$BTC $ETH $BNB
PreQin is a data analysis company that is worth about 240 million #USD , with a network of about 4,000 companies.
BlackRock’s Aladdin, already utilized by some 1000 investing companies in their asset management, will combine with PreQin’s research and data tools to create a user-friendly platform for asset managers. The platform is intended to make cross-checks of assets a much easier experience.
I expect the implications for the crypto market to be that there will be more investors turning to crypto as a potential asset, leading to an increase in the overall tendency towards investing in the crypto market.
The future is truly bullish!
$BTC $ETH $BNB
The @DAO Labs #KAVA hub can evaluate the $KAVA tokens they have won through #SocialMining in this competition. Although you are not an ambitious trader, #KAVA/USDT
va seems so affordable that we must consider this opportunity. Of course, my last reminder is DYOR! You are the only decision-maker⚡️⚡️
va seems so affordable that we must consider this opportunity. Of course, my last reminder is DYOR! You are the only decision-maker⚡️⚡️
LIVEAkahilz Academy
--
$1.2M Up For Grabs! Binance World Championship 🏆 Spot Trading (Limited Offer 😲)
This is your last chance to join the Binance World Championship Spot Trading Tournament 🏆📈📉
Only 3 Days Remaining!
Calling all crypto traders! 🗣️
Don't miss your chance to participate in the Binance World Championship 2024 Spot Trading Tournament, where you can win a share of the $1.2M USDC tokens. Registration is still open, and there's only 3 days left to join.
Become a Kava Pro 🔺🔻
Trade KAVA/BTC and #KAVA/USDT spot pairs to demonstrate your skills and pride in the $KAVA community. Are you the next Magnus Carlsen of crypto trading? Prove it in the 2024 Binance World Championship!
Competition Details 📜
- Earn your share of the 1.2M USDC vouchers by climbing the spot trading leaderboard by volume.
- Outperform your friends to double the rewards.
- If 30,000 competitors register, bonus rewards will be unlocked for all participants.
Eligibility Criteria 💡
- Trade at least $500 USD equivalent in KAVA/BTC and KAVA/USDT spot pairs to be eligible for the promotion.
- Visit the Binance registration page for full details. (See Announcements 📰)
Time is Running Out!
Summary 🎓
With only 3 days left, don't miss your chance to showcase your trading skills. Register today and compete to win!
Join Now: See Spot Trading Activity Section and Register!!! 📈📉
Don't miss this opportunity to prove your trading prowess and win big! Register now and show the world what you're made of!
Share your thoughts below 💭
Like and share this post too ❤️
Follow for more #KAVA updates🙏🏼
Disclaimer 🚦
This article is for educational purposes only and not a financial advice. Please, do well to always do your own research, as crypto trading comes with risk.
Moreso, this guide is brought to you by #Akahilz 🎓.
Courtesy of #DAOLABS #SocialMining 🫧 !
Only 3 Days Remaining!
Calling all crypto traders! 🗣️
Don't miss your chance to participate in the Binance World Championship 2024 Spot Trading Tournament, where you can win a share of the $1.2M USDC tokens. Registration is still open, and there's only 3 days left to join.
Become a Kava Pro 🔺🔻
Trade KAVA/BTC and #KAVA/USDT spot pairs to demonstrate your skills and pride in the $KAVA community. Are you the next Magnus Carlsen of crypto trading? Prove it in the 2024 Binance World Championship!
Competition Details 📜
- Earn your share of the 1.2M USDC vouchers by climbing the spot trading leaderboard by volume.
- Outperform your friends to double the rewards.
- If 30,000 competitors register, bonus rewards will be unlocked for all participants.
Eligibility Criteria 💡
- Trade at least $500 USD equivalent in KAVA/BTC and KAVA/USDT spot pairs to be eligible for the promotion.
- Visit the Binance registration page for full details. (See Announcements 📰)
Time is Running Out!
Summary 🎓
With only 3 days left, don't miss your chance to showcase your trading skills. Register today and compete to win!
Join Now: See Spot Trading Activity Section and Register!!! 📈📉
Don't miss this opportunity to prove your trading prowess and win big! Register now and show the world what you're made of!
Share your thoughts below 💭
Like and share this post too ❤️
Follow for more #KAVA updates🙏🏼
Disclaimer 🚦
This article is for educational purposes only and not a financial advice. Please, do well to always do your own research, as crypto trading comes with risk.
Moreso, this guide is brought to you by #Akahilz 🎓.
Courtesy of #DAOLABS #SocialMining 🫧 !
Caicay's remarkable story shows ways to relax economically without significantly changing a person's life. We will follow together how successful it will be with #SocialMining 🤩🤔
🌹Love to the Philippines
🌹Love to the Philippines
LIVEDAO Labs
--
Pinoy Teacher Finds Success with DAOLabs Social Mining
🌍🌏🌎Our lovely planet, this "big blue marble" is unfortunately home to many people struggling to make ends meet, unable to pay their bills, and delaying their needs because of poor economic management or scarce resources, in many countries on many continents.
🇵🇭The Philippines is one of those lands where economic woes are the norm and Caren, a Pinoy, is no different.
👩🎓👩💻👼She works as a teacher at night while taking care of her home and baby during the day. Yet, she still struggles to pay her bills.
🤩One day, on a Facebook page, she saw messages from Philippines team about . When she first read it, she initially did not lend it credence, but still gave it go and wrote a message to the community. That's how she got her introduction to Social Mining.
✍️👩🎨Thank s to her academic prowess, it is not hard for Caicay to pick up Social Mining content creation skills. However, she is making an effort to develop more artistic skills and aspects that require training, such as producing images and designing videos.
👨👨👧 ✍️👩💻Today, after spending her day with housework and taking care of her baby, at night she easily engages with project tasks for DAO Labs Social Mining Hub , as well as , ,
and Hubs.
🪙She has a side-hustle that allows her to pay her bills and take care of her needs by organizing her time a bit more efficiently to make time for crafting her tweets and retweeting.
This strong and talented Filipina woman became a DAOVERSE Hub member on April 29th.
🤩She is one of the newest members of our platform. She understands and continues her work. To start with, she has earned a reward of 129 $USDT for her work.
😉Pretty good, right?
🌷Caren has proven that she can be a teacher to her smart and talented countryfolk affected by the economic hardships in her country.
🚩And as the number of social miners in the #Philippines grows, she has become a pioneer on a mission to support 🇵🇭her country's economy.
You can read Caren's full story here: https://www.daolabs.com/posts/caren-castolos-take-on-teaching-motherhood-and-social-mining
🧿Good luck Caren! 💥full steam ahead!
🇵🇭The Philippines is one of those lands where economic woes are the norm and Caren, a Pinoy, is no different.
👩🎓👩💻👼She works as a teacher at night while taking care of her home and baby during the day. Yet, she still struggles to pay her bills.
🤩One day, on a Facebook page, she saw messages from Philippines team about . When she first read it, she initially did not lend it credence, but still gave it go and wrote a message to the community. That's how she got her introduction to Social Mining.
✍️👩🎨Thank s to her academic prowess, it is not hard for Caicay to pick up Social Mining content creation skills. However, she is making an effort to develop more artistic skills and aspects that require training, such as producing images and designing videos.
👨👨👧 ✍️👩💻Today, after spending her day with housework and taking care of her baby, at night she easily engages with project tasks for DAO Labs Social Mining Hub , as well as , ,
and Hubs.
🪙She has a side-hustle that allows her to pay her bills and take care of her needs by organizing her time a bit more efficiently to make time for crafting her tweets and retweeting.
This strong and talented Filipina woman became a DAOVERSE Hub member on April 29th.
🤩She is one of the newest members of our platform. She understands and continues her work. To start with, she has earned a reward of 129 $USDT for her work.
😉Pretty good, right?
🌷Caren has proven that she can be a teacher to her smart and talented countryfolk affected by the economic hardships in her country.
🚩And as the number of social miners in the #Philippines grows, she has become a pioneer on a mission to support 🇵🇭her country's economy.
You can read Caren's full story here: https://www.daolabs.com/posts/caren-castolos-take-on-teaching-motherhood-and-social-mining
🧿Good luck Caren! 💥full steam ahead!
Basic regulations such as the FIT21 law are especially valuable as a mission to show evidence against those still believing in balloon rumours.
LIVEDAO Labs
--
What FIT21 Means for the Future of Decentralization
On May 22, 2024, the U.S. House of Representatives passed the Financial Innovation and Technology for the 21st Century Act (FIT21), a new bipartisan framework for the digital asset ecosystem. This act establishes federal requirements for digital asset markets and clarifies what constitutes ‘decentralization’ in blockchain technology.
The Five-Prong Decentralization Test
FIT21 introduces a 'five-prong decentralization test' to determine if a blockchain can be considered decentralized. Here’s what the test entails:
1. No Bosses: Over the past year, no single person or group should control the blockchain or its governance. The blockchain must be permissionless, allowing anyone to use, earn, or transfer digital tokens, create apps, participate in governance, and operate nodes or servers without restrictions.
2. No Big Owners: No individual or group should own or control more than 20% of tokens or governance votes in the past year.
3. No Major Changes Without Users' Agreement: In the past three months, the blockchain's code must have remained stable unless changes were made for bug fixes, security improvements, regular maintenance, or community-approved updates.
4. No Investment Pitch: Tokens must not have been promoted to the public as a profit-earning opportunity in the past three months. This includes avoiding promotions paid to influencers.
5. Tokens Created Fairly: Over the past year, all new tokens must be created by users through smart contracts, not artificially minted by the issuer.
FIT21's comprehensive approach to defining decentralization ensures that blockchains maintain integrity and openness. The act promotes a genuinely decentralised ecosystem by preventing single entities from exerting undue influence. This fosters innovation, inclusivity, and trust among users, aligning with the core principles envisioned by blockchain pioneers like Satoshi Nakamoto.
The 5 principles described above are the basic principles that always considers in its work. It is gratifying that the Blockchain Foundation and support the law. FIT 21 contains basic definitions that will be considered the beginning of regulations related to crypto assets.
The Five-Prong Decentralization Test
FIT21 introduces a 'five-prong decentralization test' to determine if a blockchain can be considered decentralized. Here’s what the test entails:
1. No Bosses: Over the past year, no single person or group should control the blockchain or its governance. The blockchain must be permissionless, allowing anyone to use, earn, or transfer digital tokens, create apps, participate in governance, and operate nodes or servers without restrictions.
2. No Big Owners: No individual or group should own or control more than 20% of tokens or governance votes in the past year.
3. No Major Changes Without Users' Agreement: In the past three months, the blockchain's code must have remained stable unless changes were made for bug fixes, security improvements, regular maintenance, or community-approved updates.
4. No Investment Pitch: Tokens must not have been promoted to the public as a profit-earning opportunity in the past three months. This includes avoiding promotions paid to influencers.
5. Tokens Created Fairly: Over the past year, all new tokens must be created by users through smart contracts, not artificially minted by the issuer.
FIT21's comprehensive approach to defining decentralization ensures that blockchains maintain integrity and openness. The act promotes a genuinely decentralised ecosystem by preventing single entities from exerting undue influence. This fosters innovation, inclusivity, and trust among users, aligning with the core principles envisioned by blockchain pioneers like Satoshi Nakamoto.
The 5 principles described above are the basic principles that always considers in its work. It is gratifying that the Blockchain Foundation and support the law. FIT 21 contains basic definitions that will be considered the beginning of regulations related to crypto assets.
Recently, one of the ZK networks has launched.
The ZK network project has incredibly disappointed its community. Looking at the community that has experienced this disgrace, I understand why Victoria flores has embraced the @DAO Labs #SocialMining movement. She started to earn money at the rate of her contribution from the projects she participated in awareness studies.
I feel sorry for my friends who have been promoted to the ZK network for months.
😍🤩🙏I wish you good work and abundant earnings, Victoria Flores
The ZK network project has incredibly disappointed its community. Looking at the community that has experienced this disgrace, I understand why Victoria flores has embraced the @DAO Labs #SocialMining movement. She started to earn money at the rate of her contribution from the projects she participated in awareness studies.
I feel sorry for my friends who have been promoted to the ZK network for months.
😍🤩🙏I wish you good work and abundant earnings, Victoria Flores
LIVEDAO Labs
--
Victoria Flores: A Beacon of Passion in DAOVERSE
This article was inspired by the story of SMOTH's latest guest, Victoria Flores.
DAOVERSE, ' hub, is home to blockchain enthusiasts from all corners of the world.
They share a common belief in blockchain technology and cryptocurrency, creating a colorful, energetic, and loving environment in a mosaic of different races, religions, languages, and cultures from different continents around the world.
This beautiful community, brought together by a passion for blockchain, supports DAO Labs' idea of social mining and works with the community to raise awareness in the Social Mining Hubs of DAO Labs projects. Project teams support Social Miners' work with token rewards. social miners earn $TONs for their labor. miners earn , and #KavaHub miners earn . Hub earns for their awareness work, and members receive $WAXP.
Social miners are rewarded on , DAO Labs' Hub for their work in $USDT because DAOVERSE's token has not yet been minted.
Before I introduce Victoria, who inspired this article, I would like to introduce you to a weekly event that miners are eagerly awaiting. In the social event, which we call SMotH for short, we learn the social mining story of a successful miner who adds value to the community with her contributions, the adventure that brought her to our community, and her advice to social miners. Amara is hosting this event, which miners are eagerly awaiting. She has an infectious cheerfulness. It's really hard to be sad around her. Her positive energy puts her guests at ease and adds a special color to the conversation with her jokes.
Now I'd like to introduce the star of my article.
Victoria Flores! Every miner in our community has a unique story. But some of us are really like rare flowers.
Our Victoria Flores is one of those rare flowers. She joins the community from South America. Venezuelan Victoria. And she has all the warmth and sparkle of the tropics. She lights up the group.
A hardworking, intelligent, and determined personality with a big heart defines our tropical Latin American flower. Victoria, who joined our telegram group with a DAO Labs tweet she stumbled upon on Twitter; and then realized that she was born as a social miner and took her place in the community, is getting stronger every day by improving her mining skills. As an administrative assistant for many years, Victoria's motivation stems from her passion for social mining.
One of the most important reasons for its development is its unconditional support to the miners in its community. She has benefited from all the blessings of working together while supporting her community.
Victoria advises new social miners to stay persistent, put love into their work, and constantly learn.
Victoria Flores' story inspires all aspiring social miners, exemplifying the impact of passion, commitment, and community support in Social Mining.
Let's take a look at what this dedicated Venezuelan miner has achieved in her work, which is more focused on learning.
For a closer look into Victoria Flores's life, please read the conversation article compiled by Amara on our blog.
https://www.daolabs.com/posts/the-roaring-kitty-of-social-mining
If you're curious about Victoria, I'm willing to bet you'll see her on the DAO Labs Global Telegram either supporting a fellow miner or sharing a message asking her friends to support her new tweet...
https://t.me/DaoLabs
DAOVERSE, ' hub, is home to blockchain enthusiasts from all corners of the world.
They share a common belief in blockchain technology and cryptocurrency, creating a colorful, energetic, and loving environment in a mosaic of different races, religions, languages, and cultures from different continents around the world.
This beautiful community, brought together by a passion for blockchain, supports DAO Labs' idea of social mining and works with the community to raise awareness in the Social Mining Hubs of DAO Labs projects. Project teams support Social Miners' work with token rewards. social miners earn $TONs for their labor. miners earn , and #KavaHub miners earn . Hub earns for their awareness work, and members receive $WAXP.
Social miners are rewarded on , DAO Labs' Hub for their work in $USDT because DAOVERSE's token has not yet been minted.
Before I introduce Victoria, who inspired this article, I would like to introduce you to a weekly event that miners are eagerly awaiting. In the social event, which we call SMotH for short, we learn the social mining story of a successful miner who adds value to the community with her contributions, the adventure that brought her to our community, and her advice to social miners. Amara is hosting this event, which miners are eagerly awaiting. She has an infectious cheerfulness. It's really hard to be sad around her. Her positive energy puts her guests at ease and adds a special color to the conversation with her jokes.
Now I'd like to introduce the star of my article.
Victoria Flores! Every miner in our community has a unique story. But some of us are really like rare flowers.
Our Victoria Flores is one of those rare flowers. She joins the community from South America. Venezuelan Victoria. And she has all the warmth and sparkle of the tropics. She lights up the group.
A hardworking, intelligent, and determined personality with a big heart defines our tropical Latin American flower. Victoria, who joined our telegram group with a DAO Labs tweet she stumbled upon on Twitter; and then realized that she was born as a social miner and took her place in the community, is getting stronger every day by improving her mining skills. As an administrative assistant for many years, Victoria's motivation stems from her passion for social mining.
One of the most important reasons for its development is its unconditional support to the miners in its community. She has benefited from all the blessings of working together while supporting her community.
Victoria advises new social miners to stay persistent, put love into their work, and constantly learn.
Victoria Flores' story inspires all aspiring social miners, exemplifying the impact of passion, commitment, and community support in Social Mining.
Let's take a look at what this dedicated Venezuelan miner has achieved in her work, which is more focused on learning.
For a closer look into Victoria Flores's life, please read the conversation article compiled by Amara on our blog.
https://www.daolabs.com/posts/the-roaring-kitty-of-social-mining
If you're curious about Victoria, I'm willing to bet you'll see her on the DAO Labs Global Telegram either supporting a fellow miner or sharing a message asking her friends to support her new tweet...
https://t.me/DaoLabs
LIVELIVENipek
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The Impact of Social Mining Community Members on Blockchain Projects: A Case Study of Token ATH