ENS airdrops token, SEC’s Crenshaw talks on DeFi. Crypto aficionados reacted positively to the announcement of an airdrop of retroactive tokens. By Ethereum Name Service, which was revealed this week. If you happen to own a.eth domain.
Earlier this week, the domain name system Ethereum Name Service released its native ENS governance token. To early users of the network as part of an airdrop event. And it also announced the foundation of a decentralized autonomous organization, or DAO.
Users who registered Ethereum addresses, such as Cointelegraph.eth, were awarded. A sum of ENS tokens based on the date of domain registration and the length of time. Between domain renewal costs, among other engagement metrics. Were also awarded a sum of ENS tokens. The claiming window for tokens will remain open until May 4, 2022. In order to provide eligible claimants with the greatest possible opportunity.
In the days following the release, prominent cryptocurrency exchanges including as Binance. KuCoin, Uniswap, and SushiSwap, among others, began accepting the token. For use on their platforms for a variety of trading activities, including cryptocurrency trading.
Since its introduction, the ENS airdrops token cryptocurrency has undergone significant volatility as a flurry of investors. Seeks to lock in their unrealized profits from previous investments. Initially, the asset achieved an all-time high of $85.70. But it has since dropped to $54.19 at the time of writing.
Exclusive insight into the protocol’s privacy details was provided by Brantly Millegan. Who is also the director of operations at Ethereum Name Service. In an interview with Cointelegraph:
Rather than controlled by a small group of signatories, DAOs encourage a decentralized. Open-source style of governance that owned and managed by the individuals.
A SEC commissioner calls for tougher DeFi rules
Caroline Crenshaw, Commissioner of the Securities and Exchange Commission of the United States. Published an opinion piece this week outlining the “panoply of opportunities” in the DeFi space. While also expressing a level of caution regarding the lack of regulatory clarity. And foreshadowing the challenges that DeFi expected to present.
According to the article, titled “DeFi Risks, Regulations, and Opportunities.” Which appeared in the first edition of The International Journal of Blockchain Law. Investors in the digital asset industry require greater legislative protection on par with traditional markets. A sentiment echoed by Crenshaw in his speech at the “SEC Speaks” conference in October.
In spite of the fact that pseudonymity has been a fundamental foundation of decentralization. Since the launch of Bitcoin (BTC) in 2009. Crenshaw says that participants in the DeFi area prefer to prioritize financial rewards over anonymity:
“My suspicion is that the majority of retail investors who are migrating to DeFi are not doing so. For the sake of greater privacy. Rather, they are seeking higher profits than they believe. They can get from traditional investments.”
In her subsequent remarks, she asserts that projects that comply to the SEC’s regulatory framework. That would have a greater chance of success in the future.