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TRX $0.3259 +0.07%
DOGE $0.0969 +0.32%
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BCH $448.70 +1.30%
LINK $9.36 +0.65%
HYPE $43.55 -4.10%
AAVE $112.32 +5.43%
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XLM $0.1648 +2.71%
ZEC $331.13 -3.12%

decentralized

The founder of Hyperliquid once rejected a $1 billion valuation funding proposal, insisting on a "zero external investment" approach

According to market news, Hyperliquid founder Jeffrey Yan received an investment intention based on a valuation of about $1 billion and a scale of about $100 million less than a year after the project went live. However, after careful consideration, he ultimately chose to reject the investment terms.Reports indicate that before and after the financing proposal was made, the team had been continuously using personal funds to maintain operations, consuming the founder's personal finances each month to cover project costs. During the investor's engagement, Jeff communicated with several entrepreneurs and VCs about the nature and significance of financing, but he was never convinced that external capital could enhance its intrinsic value. Ultimately, he clearly informed the team on Monday that he would reject the financing proposal.Relevant insiders described that the team members managing funds were shocked by this decision, as several preparations had already been made around the financing. Jeff's core reason was that Hyperliquid is not a traditional company but an on-chain protocol that needs to maintain neutrality. He believed that once external equity capital was introduced, it could undermine the protocol's permissionless and neutral positioning, conflicting with its long-term design goals.He had previously stated that if Bitcoin had accepted VC financing in its early days, its neutrality narrative might have been weakened. Following the same logic, he chose to continue maintaining Hyperliquid's investor-free structure and to support part of the operating expenses with personal funds in the long term. On January 28, 2024, he summarized the project's principles on social media: · No investors · No paid market makers · No fees charged to the development team (or the development team does not take fees) · No insiders (or internal privileged participants). This statement is also seen as a core footnote to Hyperliquid's extreme decentralization/decapitalization approach.

European Central Bank document questions whether DeFi DAOs are sufficiently decentralized

On March 26, the European Central Bank published a working paper studying the governance concentration of four major DeFi protocols: Aave, MakerDAO, Ampleforth, and Uniswap.The paper, based on holding snapshot data from November 2022 and May 2023, found that although governance tokens are distributed across tens of thousands of addresses, the top 100 holders in each protocol control over 80% of the supply, and a large number of governance tokens can be linked to the protocols themselves or centralized and decentralized exchanges, with Binance being the largest identified centralized exchange holder among the four protocols.In terms of voting participation, the paper noted that actual voters are mainly representatives who obtain proxy voting rights from small holders. The top 20 voters in Ampleforth control 96% of the proxy voting rights, the top 10 voters in MakerDAO hold 66%, and the top 18 voters in Uniswap hold 52%. About one-third of the main voters cannot be publicly identified.The paper argues that these findings challenge the assumption of inherent decentralization in DAOs, making it more difficult to determine regulatory anchors under the EU MiCA framework. MiCA currently excludes "fully decentralized" services from its scope. The paper also points out that it is impossible to determine from public data whether the holdings associated with the protocols belong to founders, developers, or treasuries, nor can it be determined whether exchange wallets are voting on behalf of themselves or their clients. The paper represents the authors' views and does not represent the official position of the European Central Bank.

The decentralized GPU computing infrastructure Aethir officially launches managed Kubernetes services

The decentralized GPU computing infrastructure Aethir officially launched its managed Kubernetes service today, strategically extending into the enterprise AI infrastructure market.Kubernetes (K8s), as the "gold standard" in the open-source container orchestration field, can automate the management of large-scale server clusters. Aethir's move aims to provide global AI teams with a high-performance development environment that is ready to use without the hassle of managing underlying hardware.The core features of Aethir's managed Kubernetes service include: minute-level cluster deployment: enterprises can launch GPU-supported Kubernetes clusters in minutes through a self-service API; high-end GPU support: offering the latest generation of GPUs such as NVIDIA H100, H200, B200; transparent pricing: starting at $1.45/hour with no outbound data transfer fees; enterprise-grade security: zero-trust access control, RBAC, and complete audit logs.Aethir offers a pricing model that is lower than traditional centralized cloud providers. By eliminating redundant intermediary premiums and high virtualization taxes, Aethir has reduced overall computing costs by 60% to 80%. Aethir's decentralized infrastructure spans 95 countries and regions globally, with 435,000 GPU containers providing low-latency computing access across more than 200 physical nodes, serving over 150 enterprise clients.
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