Catoshi’s monthly round-up; Listing on a dex, a partnership and movement towards a DAO.
Things have been very busy in the Catoshi HQ over the last few weeks. After months of work behind the scenes we are at a stage where announcements and developments can be shared with the public.
These are exciting times and mirror the return of positivity for many in the crypto and blockchain space. January was a ‘green’ month with BTC and many alts all seeing positive price action. Whether this is a bear rally that will retrace to the lows, or a more permanent move to the upside is hotly debated. What is good to see is that the space can move very quickly when momentum gets behind it. The increase is volume and interest across the market has been noticeable just in the last month. When the market becomes sustainably bullish again infrastructure projects will certainly benefit. Catoshi wants to be well placed to support the next move forward in blockchain development and crypto adoption. The last couple of weeks are steps in that direction but there will be so much more to come.
Catoshi partners with Chainge. Decentralization is here
On January 30th it was announced that Catoshi had formed a partnership with Chainge Finance supporting a move to using decentralized cross-chain technology. I wrote in the announcement article that;
Until now Catoshi has used a centralized bridging system. The reason for that was the bridge hacks and breaches were on decentralized bridges that had weaknesses. While decentralization has always been the goal, safety was always put first. Until completely safe decentralized bridging technology was developed it was decided by Catoshi that centralization was the way to go, and Catoshi has never been exploited or hacked. However, there are obvious issues with a centralized system. The intention was always to move to a secure, completely decentralized system. Thanks to Chainge powered by Fusion DCRM, this goal has been achieved.
Catoshi’s decentralized bridge will be able to bridge over 1400 tokens utilizing aggregated liquidity pools while other projects (which are not part of the 1400+) can still have centralized bridges built on The CrossingV1 just as before. The ability to bridge so many tokens and stable coins across 17 chains, whilst accessing significant bridge liquidity so we can offer our users the best prices, could significantly raise bridge volume.
The decentralized bridge launch recently had a soft launch with our core community. The public launch will occur very soon and I’m certainly ready to get writing an article to support the launch announcement.
Nearly 2 weeks before the Chainge partnership announcement was the news that $Czats had been supported in the Chainge dex. The Chainge mobile dex and liquidity aggregator means that the Catoshi token $Czats can now be purchased easily on the move.
Some of our community saw the listing announcement, together with the knowledge that Catoshi was building a decentralized bridge, as a hint of the partnership that was announced 13 days later. Catoshi tries to be as open and as transparent as possible with the community. At times partnerships can’t be announced until all parties are ready, because often things have many moving parts. But there is a general belief within the Catoshi team that communication and transparency is incredibly important in a space where trust is paramount. And this leads on to another important announcement that was made recently.
On January 26th it was announced that Catoshi has begun the process of becoming a Decentralized Autonomous Organization (DAO). A DAO has been described as;
a community-led entity with no central authority. It is fully autonomous and transparent: smart contracts lay the foundational rules, execute the agreed upon decisions, and at any point, proposals, voting, and even the very code itself can be publicly audited.
Full details of the CatoshiDAO will be discussed as it develops, but further general reading regarding DAO’s can be found here and here.
Catoshi believes in the goal of decentralization and the benefits that it can bring. The move to a decentralized bridge is almost complete and it was an obvious decision to start the process of changing the system of governance to a DAO.
This will not be a fast process. Catoshi will be looking at the full legal requirements of becoming a DAO. Time will also be taken to make sure the DAO smart contracts are fully secure. Security has always been the priority of Catoshi development and that will not change during the development of the DAO. However, you may have already seen the shift to renaming the project CatoshiDAO in preparation of the official change in governance structure.
There is a lot more that I could write about the structure of the CatoshiDAO but look forward to detailed articles about the move to a DAO in the future.
