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Abu Dhabi introduces a trailblazing DLT regulatory framework, setting global standards for blockchain foundations and DAOs. Abu Dhabi Global Market (ADGM) has unveiled the Distributed Ledger Technology (DLT) Foundations Regulations 2023, establishing a pioneering legislative structure for blockchain and DAOs. The Registration Authority of ADGM announced that these regulations will help to bolster the blockchain and Web3 sector, thereby propelling the region and ADGM into the forefront of digital asset regulation . The DLT Foundations Regulations have been crafted to specifically address the complexities of the blockchain ecosystem, allowing for the operation and issuance of tokens by DAOs and blockchain foundations. In this regard, the UAE stands as the world’s first, setting a high bar for regulatory frameworks globally.  You might also like: Tellor account compromised after price surge ADGM emphasized that these regulations are critical as Abu Dhabi has rapidly bec...

The amount of unclaimed Arbitrum (ARB) tokens accounts for 0.69% of ARB’s total supply of 10 billion. Arbitrum, a major Layer 2 solution for the Ethereum blockchain, has officially added the unclaimed tokens from the Arbitrum airdrop to its network’s treasury. The Arbitrum Foundation sent 69.4 million unclaimed Arbitrum (ARB) tokens to the Arbitrum’s decentralized autonomous organization (DAO) treasury on Sept. 24, the foundation announced on X (formerly Twitter). The foundation emphasized that Arbitrum users will no longer be able to claim ARB tokens anywhere. “Please be safe out there,” the Arbitrum Foundation added. At the time of writing, the transferred amount of ARB is worth around $56 million. The cryptocurrency slipped 1.6% over the past 24 hours, trading at $0.81, according to data from CoinGecko. The amount of unclaimed ARB tokens accounts for 0.69% of ARB’s total supply of 10 billion. According to data from Dune Analytics, 93% of eligible users had claim ed the tokens. E...

The P2P team managing Lido Finance’s operations on Solana submitted a funding proposal to sustain Lido’s liquid staking service on the layer-1 decentralized network.  A proposal submitted by Yuri Mediakov and the P2P team suggests two options: the Lido DAO approves $1.5 million in funding to support growth, or the protocol winds down staking support for Solana (SOL) users by Q1 2024. According to Yuri Mediakov’s proposal, the P2P team requires a $1.5 million cash infusion over the next 12 months to bootstrap growth and keep the ‘Lido on Solana’ project alive. The proposal budgeted $600,000 annually for marketing, $200,000 per quarter for development costs, and $100,000 for customer support.  The P2P team expects to command 1% of Solana’s staking market with funding from Lido DAO and compete with other providers within the ecosystem.  At press time, Marinade Finance boasted the top staking platform on Solana with $103 million in total value locked (TVL), per DeFiLlama. Lido Fin...