ConsenSys pledges $2.4M annually for MetaMask Grants DAO 8225670622173
ConsenSys, a blockchain technology company, will spend $2.4 Million annually to fund its MetaMask Grants DAO that aims at further developing the Web3 ecosystem.
MetaMask employees will lead the fund and manage the decentralized autonomy organization (DAO).. The DAO will issue grants to developers who are not part of ConsenSys and are creating products or services in MetaMask’s environment and wider Web3 space.
To assess the viability and success of the project, the DAO will first run for 12 months. The DAO will process votes and proposals through SnapShot on Codefi Activate. ConsenSys will contribute $600,000. per quarter to help drive decentralization, adoption and adoption of Web3 mechanisms.
In a statement that was shared with Cointelegraph, Taylor Monahan, MetaMask’s global Product Lead, highlighted the importance of decentralized development as a driver for growth.
“This will not only accelerate growth for cryptocomfortable users but it will also increase adoption for cryptocurious individuals with more ways to participate in.”
The DAO itself is composed of three components. The first component is the employee-led DAO, which is made up of more than 900 ConsenSys employees. These employees can opt in to become Grants DAO members. All of them have equal voting rights.
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The second section is a mini-DAO leadership committee made up seven people. This committee will be responsible to identify high-potential projects and create governance proposals. They will also collect feedback and drive improvements for the DAO.
ConsenSys will oversee the final part, which is a multisignature secure wallet that will handle the token contract as well as the treasury. It can also sign transactions to fund disbursement and mint and burn tokens when employees join or leave the company.
The MetaMask Grants DAO leadership committee includes MetaMask’s co-founders, Snaps Studios’ global product lead, senior DAO strategist, and ConsenSys director of strategic initiatives as well as ConsenSys product management director.
Two types of grants will be available for funding the DAO. The Leadership Committee Grant will only be voted upon by its seven members. DAO Grants will then be available for all DAO members to vote on.
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The Musk-Saylor Inflation Debate: Crypto vs. Physical
Rising inflation is threatening to further eat up the purchasing power the global fiat ecosystem. This makes it imperative that we find the right hedge against a declining economy, especially for the general population around the globe.
Elon Musk , Tesla CEO, asked about the likely inflation rate in the next few years to gauge global investors’ perceptions. American billionaire and MicroStrategy CEO Michael J. Saylor shared his views on the subject. He stated that with rising inflation, the capital cash flow would shift away from traditional fiat to more scarce assets like Bitcoin ( TTC).
The rate of asset inflation and USD consumer inflation will be double that of the previous year. Weaker currencies are likely to collapse and capital will flow from cash, debt, and value stocks to rare property like #bitcoin.
Michael Saylor (@saylor).
March 14, 2022
The last six months have seen unprecedented inflationary pressure in major economies, including the United Kingdom and Turkey, Russia, and the United States. This is due to global uncertainties and disruptions caused by cross-border conflicts as well as the COVID-19 pandemic.
Musk responded to Saylor’s suggestion for investing in rare assets to combat rising inflation of the United States dollar.
The discussion was open to the public, who dismissed Saylor’s suggestion that BTC be used as an inflation hedge due to personal investments. Musk however acknowledged that investors can maintain their purchasing power by investing in physical property and company stock, which are both scarce assets.
For those seeking advice, this thread will generally advise that it is better to have physical items such as a home or stocks in companies that make quality products than to invest your dollars when inflation is high.
I don’t intend to sell my Bitcoin, Ethereum, or Doge fwiw.
Elon Musk (@elonmusk).
March 14, 2022
Musk also shared his intention to keep hodling Ether ( EETH) and BTC ( DOGE), amid rising inflation, “for what it’s value.”
Tesla will sell some merchandise with Doge. We’ll see how it goes.
Elon Musk (@elonmusk).
December 14, 2021
Musk announced in December 2021 that Tesla would accept DOGE as merchandise. This sparked the price of the meme token by 25%.
Doge/USD 1-hour candle chart (Bittrex), December 2021. Source: TradingView
Musk’s recent tweet supporting cryptocurrencies has not had any positive effect on the declining prices.
Related: Dogecoin Foundation trademarks logos and name within the EU
Dogecoin Foundation registered the trademarks “Doge,” Dogecoin, and the associated logos in order to increase the legitimacy of the ecosystem.
We were forced to register the logos created by Christine Ricks for Dogecoin because of the increasing number of attempts made in bad faith to register trademarks for “Doge”, Dogecoin, and other names. This was to ensure that all good shibs are protected within the @Dogecoin community. 2/2
Dogecoin Foundation (@DogecoinFdn).
March 2, 2022
Cointelegraph reported that Jens Wiechers, a member of the Dogecoin executive committee, stated that the move was to stop unaffiliated individuals attempting to register the names and to use trademarks to commit extortion.
As rising inflation threatens to eat up further the purchasing power of the global fiat ecosystem,...