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Breaking: Do Kwon proposes Terra revival, including token redistribution plan

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Breaking: Do Kwon proposes Terra revival, including token redistribution plan

Terraform Labs co-founder Do Kwon has tabled a proposal to preserve the Terra ecosystem following the historic depegging of its algorithmic stablecoin, UST, and the resulting death spiral that plunged Terra (LUNA) tokens to practically zero.

In a Friday post on Terra’s research forum, Kwon said, “The Terra community must reconstitute the chain to preserve the community and the developer ecosystem.” His proposal, which was in response to validator groups discussing the possibility of forking the Terra chain, involves compensating UST and LUNA holders who were unable or unwilling to sell their holdings during this week’s price collapse.

From top-10 crypto to trading for less than a fraction of a penny, LUNA’s price chart offers a startling reminder of how quickly crypto markets can change. Source: CoinMarketCap

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Game on: Yield Guild Games scholarships on the rise through Q1

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Game on: Yield Guild Games scholarships on the rise through Q1

Yield Guild Games (YGG) has released its Community Update for Q1 2022, revealing that total scholarships rose 39% overall as the guild continues to farm copious amounts of the Axie breeding Smooth Love Potion (SLP) token.

The Community Report shows that the month-on-month growth of scholarships in YGG has been strong despite a downturn in the market. January saw 50.13% growth, February saw a 28.8% increase, while March had 41.93% growth fueled by new partnerships and the rollout of SubDAOs. By the end of March, the guild had 29,458 scholarships, mostly from Axie Infinity.

The number of scholarships at YGG increased every month in Q1.

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Coinbase Wallet Extends Token Swaps With BNB Chain and AVAX

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Coinbase Wallet Extends Token Swaps With BNB Chain and AVAX

  • Coinbase (NASDAQ:COIN) wallet adds BNB Chain and AVAX networks.
  • The exchange will undertake swaps on a broader variety of networks soon.
  • Wallet users can now use Coinbase’s in-app DEX on four networks.

BNB Chain and Avalanche have been added to Coinbase’s list of supported networks that allow customers to exchange for cryptocurrency transactions.

In a blog post, Coinbase announced that the new feature would provide customers access to thousands of tokens, a greater variety than most traditional centralized exchanges can provide.

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El Salvador’s Bitcoin play: What does the current slump mean for adoption?

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El Salvador’s Bitcoin play: What does the current slump mean for adoption?

It was September 6, 2021, when the Central American nation of El Salvador decided to go ahead and purchase 200 Bitcoin (BTC), worth about $10.3 million at the time. The day was hailed as momentous in the history of the crypto market and was met with much fanfare. In fact, many proponents claimed that the purchase was just an inkling of what really lay ahead in terms of a global crypto-driven economy.

However, a lot has changed since then, especially with BTC losing 55% off its value after scaling up to its November all-time high of $69,000. And, with Bitcoin’s value seemingly in a downward spiral at the moment, many critics have ramped up their criticism of El Salvadoran President Nayib Bukele and his decision to keep lapping up more BTC.

A bitcoin ATM in El Zonte. Source: Karlalhdz

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