Through a post, it became known that the RAI stablecoin was launched. Backed by Ethereum, it hopes to be the savior of the DeFi sector by offering a truly decentralized stablecoin alternative.
Developed by blockchain company Reflexer Labs, the RAI stablecoin is not tied to any fiat currency. And its monetary policy is managed by an autonomous controller in the chain. It is a fork of the Maker DAI. RAI co-founder Ameen Soleimani explained:
The stablecoin RAI is an asset backed solely by ETH. Minimized by governance and programmed to maintain its own price stability without the need to link to an external price benchmark such as the USD.
Soleimani believes that RAI, which he has dubbed “A God of Money,” has much greater potential than simply improving the DeFi sector. Added:
Our aspirations for the RAI stablecoin, however, are deeper. If RAI serves its purpose within DeFi and begins to gain global adoption, it could prove a viable solution to the Triffin Dilemma. And bring credible neutrality to the management of a stable world reserve asset. ‘
Triffin’s dilemma consists of the potentially contradictory incentives that arise when an asset. Like the dollar, it serves as both a national currency and an international reserve.
Chainalysis data suggests 2021 will see DeFi emerge to be ‘more attractive to criminals’
The cryptocurrency market has seen a lot of notorious people trying to scam users. Especially during a bull run across the market.
Now, while there has been an increase in such illicit activities, lately a new stream of fraud has also emerged. Which involves the cryptocurrency market.
Over the past year, the decentralized financial ecosystem has seen a dramatic increase in illegal activities, with some analysts suggesting that 2021 could see more.
DeFi platforms are based on smart contract-enabled blockchain platforms like the Ethereum network. Since the entire system works without human intervention, it appeals to people who value privacy. But also to criminals who seek to launder contaminated money.
2020 saw an increase in such dire activities. With data from Chainalysis revealing that more than $ 38 million worth of illicit crypto was moved through the DeFi space.
For its part, 2021 has seen quite a few incidents, with Alpha Finance’s DeFi protocols exploited in Flash loan attacks. This resulted in the loss of USD 38.5 million in funds. At the time, Alpha Finance claimed with a “prime suspect” in mind.
However, since the world of decentralized finance often works without a central party, it will be difficult to reverse losses or even mitigate risks.
Since the overall value of the crypto market grows every day, DeFi users may want to control the projects they are using.
With a makeover in the near future, Sushiswap receives the domain “Sushi.com” as a gift
The SEO metrics of a major decentralized finance (DeFi) protocol just soared into the stratosphere.
In a tweet, cryptocurrency investment fund Future Fund announced that they had acquired the domain name ‘sushi.com’. On behalf of the DeFi platform, Sushiswap.
“We are happy to announce that we have acquired the domain sushi.com for @sushiswap.”
A strong dominance will greatly increase internet traffic and sushi brand exposure for your future new projects.
Sushiswap’s online presence is widely dispersed, including domains like “sushiswap.fi” and “sushiswapclassic.org.” In the announcement, Future Fund noted that simplicity is an improvement and added:
“A strong domain will greatly increase Internet traffic and exposure to the sushi brand.”
While the terms of the purchase were not disclosed, the domain is a very popular property that was previously priced at between $ 600,000 and $ 1.5 million. According to several domain sales sites.