TL;DR: Welcome to In Case You Missed It (ICYMI), a daily crypto news update. FTX introduces Trump reelection crypto futures. $1 billion locked away in Decentralized Finance (DeFi) applications. US Dept. of Transportation is funding blockchain research. Hester Peirce publishes “Safe Token Harbor” speech. Bitcoin Cash StackExchange site proposed, and Dr. Li Wenliang memorialized in an Ethereum smart contract.
FTX Introduces Trump Reelection Futures Contracts
FTX, a cryptocurrency and derivatives exchange, presented its Trump reelection futures contract (TRUMP), an instrument that will let investors bet on the likeness of his reelection in 2020. FTX stated these contracts should reflect the probability of President Trump winning the reelection, “so if you think there’s a 52% chance of Trump winning, then TRUMP should trade at $0.52; buying below there would be good, as would selling above $0.52.” The contract will expire at $1 if Trump gets reelected, or to $0 if he loses.
$1 Billion Locked in DeFi Applications
The amount of money locked in decentralized finance (DeFi) protocols reached a milestone of $1 billion, a raise of over 100% since this same time last year, according to numbers from DeFI Pulse, a decentralized finance aggregator. Most of this money is locked in Maker, the decentralized credit platform that supports the Dai stablecoin, but Synthetix and Compound, other lending applications, have also grown. Uniswap, Bancor, and Kyber also appear in the list, showing the rise of the popularity that DEX’s (decentralized exchanges) have also achieved.
US Dept. of Transportation Funding Blockchain Research
The US Dept of Transportation is seeking to use blockchain applications as a way to apply to them to highway engineering and intermodal surface transportation. As a part of a broad agency announcement that also includes Artificial Intelligence and compatibilization of waste plastics, the Federal Highway Administration is offering $4 million in funding for the proposed projects. This could include highway pricing via blockchain wallets included in every car, for example.
Hester Peirce Publishes “Token Safe Harbor” Proposal Draft
Sorry for the delay. Here's the safe harbor draft (at the end of the speech). Let me know what works and what doesn't: https://t.co/hxsJd8JnYU
— Hester Peirce (@HesterPeirce) February 7, 2020
Hester Peirce, the US SEC Commissioner who presented a “Token Safe Harbor” proposal recently, finally published a draft that details her initial thoughts. The draft does specify that some token projects can be born as securities, but decentralization can make them shed that denomination. “A token may be offered and sold initially as a security because it is wrapped in a transaction involving an investment contract, but that designation may change over time if the token is later offered and sold outside of an investment contract,” the draft states.
Bitcoin Cash StackExchange Site Proposed
Read.cash writer nyusterine proposed the creation of a StackExchange site for the Bitcoin Cash community, to function as a knowledge hub for users and developers. The proposal is still being considered, and to get it to be accepted, quality questions must be offered for its consideration. If the proposal is accepted by the owners of the site, then a trial StackExchange section will be created to function as a test to really measure the interests and movement of the community. The proposal needs to get 40 questions minimum to advance.
Dr. Li Wenliang Memorialized on Ethereum
Li Wenliang, the Chinese doctor who reported the Coronavirus outbreak in Wuhan to the world, and who died recently of from its complications, has been immortalized as a part of a smart contract on Ethereum. It has his biography written on the blockchain. The smart contract, which has an ASCII art resembling a tombstone with a RIP inscription, is dedicated to the life and the contribution Wenliang made in breaking early censorship.
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