2023-08-31

💃🏾 Judge Backs DeFi: Uniswap's Victory Dance!

August 31, 2023

Howdy, DailyCoiners,A vegan, a bitcoin trader, and someone who didn’t vote in 2016 all walk into a bar.

Who tells you about it first?

(In this situation...the safest thing to do is run for the hills!)

✈️ Lufthansa's Uptrip
🧛 Judge Backs Uniswap
🚏 Binance Ends BUSD

🛬 Fly and Collect: Lufthansa's NFT Rewards

Imagine collecting baseball cards, but instead of landing a rookie card, you unlock free in-flight Wi-Fi or lounge access.

Welcome to Lufthansa's new twist on loyalty!Lufthansa Group, the parent of many major airlines, has rolled out its NFT-based "Uptrip" loyalty program.(For all you non-German speakers out there...Luft = air... hansa = company) 🧐Flyers can now earn digital trading cards linked to destinations, aircraft, and holidays. Collect them all for a theme, and voilà, enjoy perks like extra miles or airport amenities.Uptrip, which already saw 20,000 users snap up over 200,000 digital cards in its test phase, was crafted by the Lufthansa Innovation Group on Polygon.With giants like Starbucks, Nike, and Coca-Cola also playing in Polygon's digital sandbox, Lufthansa's flight into the NFT realm doesn't seem sky-high after all.All we need now is for our portfolios to be in profit so we can actually afford to fly anywhere! 🤦

🏆 Uniswap Triumphs in Lawsuit: DeFi Wins Day

Like blaming a carmaker for a driver's traffic violation! That's how Judge Katherine Failla of the Southern District Court of New York viewed an investor's attempt to hold Uniswap accountable for her $10,000 loss on scam tokens.

In a landmark decision, the court sided with the decentralized exchange Uniswap, emphasizing that the misuse of its software doesn't slap liability onto its developers.Do

Investor Nessa Risley had taken a punt on tantalizingly-named tokens - think "BoomBaby" and "Rocket Bunny". (Really?...if it quacks like a 🦆, looks like a 🦆...guess what..it's probably a 🦆)YourHer dreams fizzled, leading to a lawsuit against Uniswap for allegedly flogging unregistered securities.Own

But decentralized systems, like Uniswap, aren't puppet masters, manipulating every token and trader. They're more akin to open platforms.DangThis clear win for Uniswap helps set the tone for how U.S. securities law views the burgeoning DeFi sector.ResearchAmidst recent concerns over crackdowns on decentralized software, this ruling offers a silver lining. So, for now, DeFi's sun continues to shine.

🥸 Binance Nudges Users: Swap BUSD for New Stablecoin

In the wild west of crypto, the tumbleweed today is Binance's BUSD stablecoin.

With whispers becoming formal announcements, Binance will hang up its BUSD spurs by February 2024.This isn't a rogue decision; Paxos has already planned to drop its support for the stablecoin.

It's like when your favorite diner takes that scrumptious burger off the menu but they introduce a zesty new one in its place.No...get that fried egg and pineapple out of my burger!!! 🤮Binance is now guiding users to the shiny new stablecoin in town: First Digital USD (FDUSD). Crafted by Hong Kong's First Digital Group, this newbie debuted on Binance's grand stage just a month after its June launch.

Binance's message is clear: Migrate from BUSD to FDUSD for a seamless, fee-free experience.As long as a stablecoin keeps its peg...do we care that much what it's called? 🤔With recent moves like axing eight BUSD pairs and doling out zero-fee trading pairs for FDUSD, it's evident which stablecoin Binance wants to take center stage.