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    Ripple terminates its multi-year partnership with MoneyGram TL;DR Breakdown: Ripple has terminated its partnership with MoneyGram Earlier this month, MoneyGram was sued for allegedly presenting false statements regarding its partnership with the blockchain company. The blockchain company behind XRP cryptocurrency, Ripple, has officially disclosed the termination of its multi-year partnership agreement with one of the big-name payment companies, MoneyGram. The development is coming some days after MoneyGram was sued for allegedly presenting misleading statements concerning its collaboration with the blockchain payment company. MoneyGram may no longer be using XRP payment services going forward. Meanwhile, the XRP cryptocurrency trades at $0.4793 (a 2.21 percent increase on a 24-hour count), according to Coinmarketcap. Ripple, MoneyGram officially terminates their partnership MoneyGram entered the multi-year partnership with the blockchain company in June 2019, which saw the company receiving an incentive from the XRP blockchain company for using its services, although MoneyGram stated last year that it "does not utilize the ODL platform or RippleNet for direct transfers of consumer funds – digital or otherwise." However, following the announcement on Monday, the partnership between both companies has been terminated. Both companies were still able to achieve a lot within these periods of partnership, per the announcement. "We are proud of the work we were able to accomplish in a short amount of time, as well as the impact we were able to achieve in bringing this first-of-its-kind product to market. Together, we processed billions of dollars through RippleNet and On-Demand Liquidity (ODL)," the announcement reads. What's behind the contract termination? The main reason behind the development today remains unknown. However, it's worth noting that MoneyGram had suspended trading on Ripple's platform last month, following the charges announced by the US Securities and Exchange Commission (SEC). Earlier this month, a class-action lawsuit was filed against MoneyGram for allegedly presenting misleading statements regarding its partnership with Ripple.

    Ripple terminates its multi-year partnership with MoneyGram

    The Makings of a Star – WILC from ILCOIN Spearheading Liquidity Provision 1

    The Makings of a Star – WILC from ILCOIN Spearheading Liquidity Provision

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    Ripple terminates its multi-year partnership with MoneyGram TL;DR Breakdown: Ripple has terminated its partnership with MoneyGram Earlier this month, MoneyGram was sued for allegedly presenting false statements regarding its partnership with the blockchain company. The blockchain company behind XRP cryptocurrency, Ripple, has officially disclosed the termination of its multi-year partnership agreement with one of the big-name payment companies, MoneyGram. The development is coming some days after MoneyGram was sued for allegedly presenting misleading statements concerning its collaboration with the blockchain payment company. MoneyGram may no longer be using XRP payment services going forward. Meanwhile, the XRP cryptocurrency trades at $0.4793 (a 2.21 percent increase on a 24-hour count), according to Coinmarketcap. Ripple, MoneyGram officially terminates their partnership MoneyGram entered the multi-year partnership with the blockchain company in June 2019, which saw the company receiving an incentive from the XRP blockchain company for using its services, although MoneyGram stated last year that it "does not utilize the ODL platform or RippleNet for direct transfers of consumer funds – digital or otherwise." However, following the announcement on Monday, the partnership between both companies has been terminated. Both companies were still able to achieve a lot within these periods of partnership, per the announcement. "We are proud of the work we were able to accomplish in a short amount of time, as well as the impact we were able to achieve in bringing this first-of-its-kind product to market. Together, we processed billions of dollars through RippleNet and On-Demand Liquidity (ODL)," the announcement reads. What's behind the contract termination? The main reason behind the development today remains unknown. However, it's worth noting that MoneyGram had suspended trading on Ripple's platform last month, following the charges announced by the US Securities and Exchange Commission (SEC). Earlier this month, a class-action lawsuit was filed against MoneyGram for allegedly presenting misleading statements regarding its partnership with Ripple.

    Ripple terminates its multi-year partnership with MoneyGram

    The Makings of a Star – WILC from ILCOIN Spearheading Liquidity Provision 2

    The Makings of a Star – WILC from ILCOIN Spearheading Liquidity Provision

    BTC/USD Price

    BTC/USD Price Prediction: BTC/USD historic uptrend fails to respond to 1.6% rising treasury bonds

    XRP/USD Price

    XRP/USD Price Prediction: Should bulls prepare for an XRP/USD ATH above $0.7000

    Bitcoin reclaims $1 trillion market cap as price surpasses $50,000

    Bitcoin reclaims $1 trillion market cap as price surpasses $50,000

    Ripple price analysis XRPUSD grinds towards $0.50 resistance

    Ripple price analysis: XRP/USD grinds towards $0.50 resistance

    Bitcoin price analysis Breakout to fresh highs imminent as BTCUSD crosses $51K

    Bitcoin price analysis: Breakout to fresh highs imminent as BTC/USD crosses $51K

    Polkadot price

    Polkadot price prediction: DOT to fall to $28

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    XRP will exist forever – Brad Garlinghouse

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Aave protocol handover admin control to governance community

Ibiam Wayas by Ibiam Wayas
October 29, 2020
in Industry News
2 min read
NiceHash waived 3-year profits to reimburse users affected in 2017 hack
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  • Aave protocol is now governed by the DeFi community.
  • They can now propose and vote for changes on the platform.

It’s now official. The core developers of Aave protocol, popular decentralized finance (DeFi) lending and borrowing platform, are no longer in control of the platform. Aave’s administration key has been handed over to the governance community, which is powered by the AAVE token. Perhaps, Aave developers are the latest to relinquish their control of the platform for the DeFi community. 

Aave protocol walks to decentralization

According to the information, the Aave protocol has been sailing under the development team’s complete control since its launch in January 2020. During these times, the development team was preparing the protocol for this remarkable event. They worked to instill a secure environment for the many Aave users and launch new functions to expand the protocol’s usability.

By transferring Aave’s administration to the governance community, the developers remarked that it’s an important move to their journey of decentralization. “Aave is more decentralized than ever,” said the CEO and founder of Aave, Stani Kulechov. He further explained that migrating the protocol’s control to the decentralized finance community is a remarkable event.

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Decentralization

Basically, AAVE token holders have the right to propose and vote on Aave Improvement Proposal (AIP). Also, the Aave protocol governance community can earn a portion of the platform’s fee by staking their tokens. Reportedly, the maximum supply for the AAVE token is fixed at 16 million, and the community can redeem only 13 million of the token. The other three million AAVE goes to an “ecosystem reserve.”

At the time of writing, the Aave protocol token is trading at $32.67 on CoinGecko, and it’s ranked as the 46th largest digital currency. The protocol itself is the fifth largest in DeFi Pulse, with nearly $1 billion in digital assets locked.

Tags: cryptomarketDigital Currency
Ibiam Wayas

Ibiam Wayas

Ibiam is an optimistic crypto journalist. Five years from now, he sees himself establishing a unique crypto media outlet that will breach the gap between the crypto world and the general public. He loves to associate with like-minded individuals and collaborate with them on similar projects. He spends much of his time honing his writing and critical thinking skills.

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Ripple terminates its multi-year partnership with MoneyGram TL;DR Breakdown: Ripple has terminated its partnership with MoneyGram Earlier this month, MoneyGram was sued for allegedly presenting false statements regarding its partnership with the blockchain company. The blockchain company behind XRP cryptocurrency, Ripple, has officially disclosed the termination of its multi-year partnership agreement with one of the big-name payment companies, MoneyGram. The development is coming some days after MoneyGram was sued for allegedly presenting misleading statements concerning its collaboration with the blockchain payment company. MoneyGram may no longer be using XRP payment services going forward. Meanwhile, the XRP cryptocurrency trades at $0.4793 (a 2.21 percent increase on a 24-hour count), according to Coinmarketcap. Ripple, MoneyGram officially terminates their partnership MoneyGram entered the multi-year partnership with the blockchain company in June 2019, which saw the company receiving an incentive from the XRP blockchain company for using its services, although MoneyGram stated last year that it "does not utilize the ODL platform or RippleNet for direct transfers of consumer funds – digital or otherwise." However, following the announcement on Monday, the partnership between both companies has been terminated. Both companies were still able to achieve a lot within these periods of partnership, per the announcement. "We are proud of the work we were able to accomplish in a short amount of time, as well as the impact we were able to achieve in bringing this first-of-its-kind product to market. Together, we processed billions of dollars through RippleNet and On-Demand Liquidity (ODL)," the announcement reads. What's behind the contract termination? The main reason behind the development today remains unknown. However, it's worth noting that MoneyGram had suspended trading on Ripple's platform last month, following the charges announced by the US Securities and Exchange Commission (SEC). Earlier this month, a class-action lawsuit was filed against MoneyGram for allegedly presenting misleading statements regarding its partnership with Ripple.

Ripple terminates its multi-year partnership with MoneyGram

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The Makings of a Star – WILC from ILCOIN Spearheading Liquidity Provision

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