CIP-3, proposed by @Chain and @dt_chain, passed on April 5th. The vision of CIP-3 is to codify into the blockchain a set of rules & regulations that the Chain community will adhere to when participating in Chain Governance. These foundational policies ensure new users entering into the ecosystem know the processes of how to go about improvements and suggestions for the protocol. Read further here.
#XCN Partnership with Alameda Research
On April 8th, Chain confirmed Alameda Research as their primary cryptocurrency market maker through a new strategic partnership. Find the full story here.
Huobi AMA with @dt_chain
@dt_chain joined @HuobiGlobal for an AMA on their Telegram channel on April 19th. The dialogue included discussing plans for the current product line, what the project roadmap looks like, XCN and other inquiries.
Some excerpts from @dt_chain:
“The Chain product line is expanding to an ecosystem of various crypto products that are designed to establish a more connected bridge between traditional finance and the blockchain. We are designing a newer version of Sequence which will enable a trustless method of bridging digital assets on public networks such as BTC, ETH, XCN to various closed-ended Sequence ledgers.”
“Chain DAO which includes Chain Staking and Chain Governance is in its final stages of beta testing. The audits have come back and we are ready to launch this soon. This will enable users to earn a strong APR for staking in the governance contract which enables them to participate in voting on CIPS (Chain Improvement Proposals) We currently have a few public roadmap items that we can talk about. Sequence v2 is one of them. Sequence v2 aims to bring the public network to private network bridge online and should be live sometime towards the end of this year or the beginning of next year. We have Chain Rewards and ChainFi which are two products we are very excited about that will come about when we close on an acquisition of a company that is in progress. That’s the most we can say as everything else is under wraps”
“XCN is available in a multi-chain format thanks to the Wormhole bridge. Currently we have available in BSC and plan to become available on every major chain. We are able to achieve this without any additional change in the token supply due to the decentralized bridge provided by Wormhole. One XCN is locked for any multi chain XCN minted and is veritable with a Proof of Reserves address on-chain.”
Chain DAO Launches
On April 22nd, the Chain DAO successfully launched.
The Chain DAO has launched the Chain Protocols native staking and governance modules powered by the Chain XCN token. The initial proposals to set rewards and make the entire protocol fully decentralized have successfully passed and the DAO is now fully in the hands of XCN holders.
Chain Governance controls the Chain DAO Treasury of 10 billion XCN worth nearly 1 billion dollars at current rates. Only those who stake their XCN into the Chain Staking smart contract will be able to deploy and vote on Chain Improvement Proposals. The Chain Governance and Staking smart contracts have been successfully audited by CertiK. The Chain DAO will implement proposals and rewards that follow the rules set by the latest Chain Constitution.
See the official announcement here.
Join Chain in Austin, TX June 9–12 and experience the world’s most influential crypto, blockchain & Web3 festival IRL. Chain is proud to be an official sponsor of Consensus 2022, presented by CoinDesk. Make sure to check out @Chain on Twitter where we will be hosting a Consensus 2022 ticket giveaway every week in May.
Event details and registration: https://www.coindesk.com/consensus2022/
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