The decentralized cryptocurrency exchange dYdX, backed by the Switzerland-based dYdX Foundation, has asked the project’s decentralized autonomous organization (DAO) for $30 million. The requested amount is meant to be distributed over the following three years. This proposal aims to support dYdX’s growth and development into what the Foundation refers to as “the exchange layer of the internet.”
In other news, InQubeta (QUBE) is gradually becoming an alternative to Chainlink (LINK) and has become a popular choice for crypto beginners and experienced investors. This is because, as one of the new ICOs, it has a novel concept and a low entry point. It is, therefore, not surprising that the project has raised over $8.6 million and counting in its presale.
Let’s delve into the significance of dYdX’s funding pursuit and the increasing appeal of InQubeta.
InQubeta (QUBE) Emerges as Investors’ Favorite
InQubeta has attracted significant interest from investors because of its focus on artificial intelligence (AI) and its unique features. Investors no longer have to miss opportunities because they don’t fit the requirements of many traditional investing avenues to access their services. To democratize the AI investment market, InQubeta aims to enable investors worldwide to collaborate with AI companies by using QUBE tokens to purchase NFTs that represent investment opportunities. The value of these NFTs rises as their makers grow their market capitalizations, and some even offer profit-sharing bonuses.
Among new ICOs, InQubeta stands out, having raised over $8.9 million in its presale and will soon achieve the $10 million milestone. The presale has enjoyed considerable investor interest and has sold over 743 million QUBE tokens. InQubeta is currently in the seventh stage of its presale, and the QUBE token is available at a DeFi coin price of $0.0224, which is set to increase in the next stage.
As an alternative altcoin to Chainlink, the platform is made to facilitate reward and equity-based NFTs (non-fungible tokens) together with fractionalized investments in AI startups. This strategy creates a mutually beneficial partnership that is transparent and useful for startups and investors. Fundamentally, the QUBE token is a doorway to the InQubeta ecosystem, granting holders access to all of the project’s features.
Chainlink Bridges Real-World Data with Smart Contracts
Chainlink is an altcoin that bridges the blockchain and the outside world, giving smart contracts access to information and happenings elsewhere. LINK functions similarly to a blockchain in that data from multiple sources is gathered via oracles, a decentralized network of independent entities. To lower the possibility of a centralized point of failure, Chainlink also collects the data that has been gathered. It provides a single, validated data point for the smart contract to start its execution.
Positive sentiment is evident in Chainlink’s market sector. Riding high on optimism, LINK has seen a 128% increase in value over the last year and is now above its 200-day moving average. Chainlink’s price performance has surpassed most other cryptocurrencies, such as Bitcoin and Ethereum. Based on its market capitalization, Chainlink maintains strong liquidity, with a circulating supply of 568.10 million LINK out of a maximum of 1.00 billion LINK.
$30 Million Budget Requested by dYdX Foundation For Decentralized Exchange Growth
The project’s governing DAO, which oversees the decentralized cryptocurrency exchange dYdX, has requested $30 million in funding from the Foundation to be used over the next three years. The Foundation could streamline its financial operations by forgoing the customary annual budget reviews due to the funding, representing 4% of the DAO’s treasury.
The dYdX community has overwhelmingly endorsed the plan. The $30 million will pay for developers’ salaries, marketing, attorney expenses, and contractor services, among other things. The Foundation prioritizes prudent money management; it previously switched from USDC to Treasury bonds to reduce risk and increase returns. The Foundation intends to strengthen its staking activities, which generate returns from 2.5 million dYdX tokens, and diversify its holdings into fiat and stablecoins. The suggested fund would significantly increase the Foundation’s operational runway beyond its 18-month duration.
Conclusion
The dYdX Foundation’s fundraising aspirations are keen on maintaining transparency and accountability. At the same time, InQubeta has garnered investor interest with its seamless integration of AI and blockchain. Participate in the InQubeta presale today at a discounted DeFi coin price to be part of this AI revolution!
