In this article, we explore the recent surge in MakerDAO’s governance token MKR, which experienced a remarkable 28% price increase within a week, reaching near its one-year high. The surge was driven by the implementation of a token buyback program by the decentralized finance (DeFi) lending platform.
Additionally, we delve into the transformative potential of InQubeta, the world’s first crypto crowdfunding platform, offering fractional investment opportunities in AI startups using its deflationary ERC20 token, $QUBE. We examine how this unique platform is transforming AI startup investment and empowering both investors and startups in the ever-evolving intersection of AI technology and crypto.
MakerDAO’s MKR Soars 28% in a Week as Token Buyback Scheme Goes Live
MakerDAO, a prominent decentralized finance (DeFi) lending platform with a total value locked of $5.3 billion, witnessed a significant surge in its governance token MKR. Over the past week, MKR’s price rose by an impressive 28%, reaching levels near its one-year high. The driving force behind this remarkable price action was the introduction of a token buyback program by MakerDAO.
The token buyback program involves the use of the “Smart Burn Engine,” which utilizes excess DAI stablecoins from Maker’s surplus buffer to purchase MKR tokens from a UniSwap pool. This mechanism helps remove MKR tokens from circulation, creating a scarcity that potentially leads to price appreciation. According to blockchain data from Etherscan, the protocol has already bought back over $230,000 worth of MKR.
With the buyback program in full effect, MakerDAO is projected to purchase approximately $7 million worth of MKR tokens over the next month. This substantial reduction in the token’s circulating supply could have further implications on its price and market dynamics. The move comes as MakerDAO continues to expand and upgrade its lending protocol, which includes diversifying its reserve assets by investing in traditional financial products like bank loans and government bonds.
As one of the oldest and most prominent DeFi protocols, MakerDAO’s governance structure operates through a decentralized autonomous organization (DAO), wherein MKR holders participate in voting on key governance proposals. With its growing influence and token buyback initiative, MakerDAO remains at the forefront of the DeFi charge.
InQubeta Presale On Fire As Bulls Target 1000% gains
InQubeta has emerged as the world’s first crypto crowdfunding platform, facilitating fractional investment in AI startups using its native ERC20 token, $QUBE. The platform aims to transform traditional investment methods, making them more accessible and efficient for both investors and startups in the AI technology space.
The $QUBE token, built on the Ethereum blockchain, brings deflationary qualities to the investment ecosystem. With a 2% tax on all buy and sell transactions, funds are directed to a burn wallet, reducing the token’s circulating supply over time and potentially driving up its value. Additionally, $QUBE offers investors an opportunity to earn rewards by staking their tokens, encouraging long-term holding and contributing to a strong and engaged community.
Central to InQubeta’s investment process is its NFT marketplace. AI startups create reward and equity-based NFTs, representing investment opportunities for backers. These NFTs are then fractionalized, allowing investors to participate with budgets that suit their preferences. By utilizing $QUBE tokens, investors can seamlessly and securely participate in the investment process, thanks to the power of blockchain technology and smart contracts.
The creative platform creates a mutually beneficial ecosystem, where AI startups receive essential funds to fuel their growth and development while benefiting from the support of a community of $QUBE token holders who have a vested interest in their success. On the other hand, investors gain access to unique and valuable investment opportunities in the burgeoning AI technology sector.
To further empower its community, InQubeta has transformed the $QUBE token into a governance token. Token holders now actively participate in decision-making processes related to the platform’s development, operation, and future direction. Proposals are submitted, discussed, and voted upon, ensuring a more democratic and community-driven investment ecosystem.
Conclusion
The combination of MakerDAO’s token buyback program and the strong interest in InQubeta’s presale highlights the growing appeal and potential gains in the DeFi and AI investment sectors. Investors are actively seeking opportunities in these emerging markets, with a keen eye on the potential for substantial returns in their investments.
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