Crash of the High Yield DAOs – Was It a Scam All Along?

Crash of the High Yield DAOs

The cryptocurrency market is a strange place. It’s the only ecosystem where assets that run on a meme can turn into a multi-billion dollar industry. Because of their high potential for profit, we see all kinds of people join in. And many of them are just trying to make a quick buck. It’s also an environment of sound projects, that have brought people incredible technological advances. Blockchain technology and the protocols that are running on it are setting a new paradigm through the decentralization of almost any industry known to man.

One major advancement that unraveled before our eyes are the decentralized finance (DeFi) market. This new financial ecosystem provided individuals all over the world with access to advanced financial instruments. Moreover, it helped the unbanked finally participate in the internet economy.

However, DeFi is not without its shortcomings. It remains largely unintuitive for the mainstream population and has encountered major drawbacks regarding liquidity. It’s this latter weakness that intrigues us in this article. Some major actors in the DeFi ecosystem tried to overcome the liquidity problem by releasing a mechanism that allows protocols to own their liquidity.

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7 Inspiring Gitcoin Grants from Round 13 (March 2022)

gitcoin grants

The web3 revolution is upon us. This evolution could bring a new internet era, capitalizing on decentralization, openness, utility, and the public good. For this reason, the upcoming generational iteration of the web is going to heavily lean onto blockchain technology and its decentralized ledger for success.

That said, decentralization also means that Web 3.0 will require more collaboration within the community than ever before. Co-creating and co-funding potentially paradigm-shifting projects will be essential to see significant growth in this sphere.

Gitcoin embraces this new open approach for building communities and provides projects with the tools, manpower, and funding to succeed. Approximately every 3 months (fiscal quarter) this platform organizes a round of public funding for up-and-coming projects that delve into the public good. In this post, we singled out 7 such projects that are worth your attention and could use some help to get off the ground.

But first, let’s briefly explain how Gitcoin works and the mechanisms behind its innovative Quadratic Funding approach.

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Nouns DAO Review – A Virtuous Circle of NFTs

nouns dao review

Ethereum and smart contracts enabled the concept of the decentralized autonomous organization. These for-and-non profit organizations without apparent hierarchy have become a major disruptive instrument in the current economic narrative.

The upcoming Web3 revolution is heavily leaning towards decentralized finance and NFTs as a new paradigm to leverage the mass adoption of new tech. And in the last two years, the results have been nothing short of stunning. DeFi grew into a $70 billion industry while some of the biggest NFT marketplaces like OpenSea are raking in over $5 billion in monthly volumes.

Consequently, a wide range of ethical DAOs have emerged on the market, jumping on the bandwagon of popularity. What’s more, many of them genuinely try to make the world a better place. In this Nouns DAO review, we take a look at one of those organizations that use NFTs’ utility to empower artists and communities. To this end, we thoroughly analyze how the Nouns DAO functions and what benefit it brings to the crypto ecosystem as a whole.

Before we delve deeper into our Nouns DAO review, let’s have a quick overview of DAOs and their applications.

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Olympus DAO – New DeFi Archetype or Elaborate Ponzi Scheme?

olympus dao review

In 2021, Decentralized finance (DeFi) grew into a multi-billion industry and opened advanced financial instruments to nearly everyone in the world. It’s obvious that this financial niche is getting more traction, and it’s unlikely that this trend will recede.

That said, DeFi comes with its own set of weaknesses, such as its dependence on fiat-pegged stablecoins. These cryptocurrencies are notorious for being centralized and quite opaque regarding their backing reserves. And while there have been attempts at creating algorithmic (decentralized) stablecoins in the past to alleviate this issue, these projects have been destined to fail. Or so it seems, until now.

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Earth Fund DAO Review – The Transparent Crowdfunding Platform on the Blockchain

Blockchain tech is becoming the new paradigm, no doubt about it. It’s the very foundation of Web3 and is changing the way we use the internet altogether. And while most projects focus on DeFi and disrupting finances, there are some exceptions to the rule.

Genuine projects that use decentralization to empower their users to advocate social good may be far and in between. That said, some interesting initiatives have been making their appearance lately.

In this Earth Fund DAO review, we analyze this project that brings crowdfunding for the greater good directly on the blockchain. To provide you with a good overview of this DAO, we take a look at the goals and token economics of its cryptocurrency.

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Diatom DAO Review – Ocean Depollution powered by DAOs 

In this Diatom DAO review, we take a closer look at a blockchain project that aims to incentivize the removal of plastic from the ocean. With 14 million tons of plastic ending up in our oceans every year, it’s one of the most glaring issues humanity is facing nowadays. This junk disrupts ecosystems, kills entire species, and destroys biodiversity. Moreover, it is directly responsible for climate change as it removes the oceans’ ability to sequestrate greenhouse gasses from the atmosphere.

Although humans are working towards reducing our plastic output, getting rid of altogether is nothing but a pipe dream. We have simply become completely dependant on this material in every facet of our lives. However, focusing on ocean de-pollution is a much more palpable objective. But this is a colossal venture, which requires all the help that it can get. This is why projects like Diatom DAO are so essential.

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Toucan Protocol Review – Carbon Markets on the Blockchain

toucan protocol review

In our quest to find influential and ethically-driven projects in the blockchain industry, we bring you this Toucan Protocol review. While we have already mentioned this project in our Ethical DAOs article, we wanted to go deeper into the tech that makes it tick.

Toucan has a mission to bring carbon markets to the DeFi marketplace. It wants to empower both individuals and businesses to contribute towards a cleaner planet. But how does this exactly work? Scholars have criticized carbon markets in the past for greenwashing, so does Toucan help us alleviate this issue? In this Toucan Protocol review, we analyze how this protocol functions and how its essential elements intertwine. We will also provide its pros and cons which should allow us to answer these questions thoroughly.

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The Rise of Ethical DAOs for a Sustainable Blockchain Future

ethical daos

This article is the perfect place to learn about DAOs, their operational processes, and their pros and cons compared to traditional, centralized organizations. More importantly, we delve deep into the proliferation of DAOs as a tool to fight for a sustainable future. To this end, we will take a look at some of these organizations that want to create a better tomorrow for upcoming generations.

But before you are able to understand why DAOs can become an essential device at fighting climate change, let’s first demystify the concept of decentralization.

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