With the rapid growth of Ethereum, the proliferation of on-chain businesses has also caused the blockchain network to be overloaded, and on-chain transactions to become slow and expensive. The Defi midsummer in 2020 and the NFT frenzy last year further exacerbated the congestion level of the Ethereum network and severely limited the large-scale development of the ecosystem on the Ethereum chain. Based on this, the expansion of Ethereum has always been concerned by the market, and Rollup expansion technology is the most popular two-layer expansion scheme in the market.

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Abstract: The flexible redemption mechanism and interest rate design of algorithmic stablecoin should come first. Similarly, the algorithm should be kept in a box and not reduced to a growth gimmick for network effects. Algorithmic stablecoins are stablecoins that rely entirely on algorithms to regulate supply and demand to create and maintain currency values. Does the collapse of Terra/UST, the largest and most mainstream algorithmic stablecoin system on the market, mean that algorithmic stablecoin is a false proposition?

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Like Stablecoin, on-chain asset management has been one of the first blockchain scenarios to land. The DAO’s organizational structure naturally removes organizational barriers to decentralized asset management. Enzyme, a pioneer of multi-chain asset management protocols, was created in 2016. More importantly, it can use tokens to incentivise asset issuers and liquidity participants to tap into more decentralized financial scenarios. From flatter investment decision-making systems, to incentives to participate in product beta versions, to the formation of vast armies of capital in the upcoming metaverse.

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Warren Buffett’s longtime business partner, Charlie Munger, has continued to express his distrust of cryptocurrencies in media interviews. He called the “crypto craze” a “massive act of stupidity.” He described cryptocurrency as “like an open sewer full of evil creatures” and hoped investors would never touch or buy it. I can well understand the source of this sentiment and believe that his claim is valid. As an early supporter of the crypto industry, I have often been more concerned about the price of cryptocurrencies than I am about the technology.

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How SKALE works There is still no perfect blockchain to this day, and neither is Ethereum. This is mainly due to the so-called “blockchain triangle dilemma” - the inability to achieve a harmonious balance between scalability, decentralization and security. Yet, there is no denying that Ethereum currently has the strongest and most active ecosystem and also the highest adoption rate to date. SKALE is built on top of Ethereum, but it is much more than that.

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Synthetix (SNX): In 2022, Synthetix was considered a leader in the decentralized finance (DeFi) space, with a strong focus on governance and decentralization. The project had plans to transition to a DAO structure and address inefficiencies within its governance system. The goal was to empower the community and ensure a smoother transition to full decentralization. Current Status (January 2024): Synthetix has indeed made progress in its journey towards decentralization. The creation of multiple DAOs was an attempt to distribute power more evenly among the community members.

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