Crypto addresses are long strings of numbers and letters designed to be read by computers. These long addresses have led to confusion and even loss of funds.
The ENS is a distributed technology based on the Ethereum blockchain that provides an elegant solution to long and confusing crypto addresses: one URL, just like a website name or email, that represents a crypto address.
Since January 2022, the vlCVX annualized yield from fee revenue fluctuated between 1.7% and 5.0%, averaging 3.2%. This compares very favorably to the average S&P 500 Dividend Yield of 1.4%.
2. Bribe rewards
Other protocols are willing to "bribe" vlCVX holders for their votes because of the influence the votes carry in Curve governance; one vlCVX token carries Curve the voting rights of roughly 4.7 CRV.
From commercial lending (“lend-it-and-forget-it”) to community lending (“lend-it-and-help-it”)
How @VitalikButerin thinks SBTs (Soulbound Tokens) can unlock DeFi’s world adoption
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@VitalikButerin Uncollateralized lending and personal brands are built on persistent, non-transferable relationships.
Today's Web 3 users have become fundamentally dependent on Web 2 tech to represent such relationships.
@VitalikButerin The lack of a native Web 3 identity makes today’s DeFi ecosystem unable to support activities ubiquitous in the real economy, such as undercollateralized lending or simple contracts, like an apartment lease.
1/ On Saturday, May 7th, UST’s peg from $1 was broken, and around 10:00 pm UTC it had reached as low as $0.987. While things began to recover on Sunday May 8th, as the market began to continue to see a large downside on Monday, UST started to flash crash even lower to $0.93.
2/ This in turn has caused LUNA’s supply to increase by over 1.9M in under 48H, and the price to fall over 25%. Due to the reflexivity of the LUNA / UST mechanism, the lower LUNA’s price falls, the higher the risk of UST’s solvency overall. (source: terra.smartstake.io/history)