Daily Crypto NewsEDITION #293, 03 May 2022

Gem City against the abolition of staking rewards

Hey Moni Maker 👾

Today, the Gem City DAO condemned the projects that decided to lower the staking rewards. According to the DAO, projects should think as much about the community as possible, not their wallets.

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1) https://rift.finance/

Today we're going to have a slightly unusual take on the project. We've already done a video about Hop Protocol, and we recommend you check it out - here's the link; it's RU, btw. In brief, it's a project which lets you quickly move tokens between rollups and layer-1. 

A couple of days ago, the guys intrigued the community - they posted a tweet with a loading screen...airdrop? Quite possibly :) 

So check out it here. 

Just yesterday, the price of the $CRO token, which is Crypto.com's native token, dropped to $0.2666. That's a 10% drop in 24 hours. What's the reason? Sherlock, we need to find out! 

- Crypto.com have announced that they are winding down the staking rewards for their cards: by 69.5% for an essential, and 100% for low-level; 

- There was a commotion on Twitter, saying, you're so f*cked;

- Crypto.com CEO said in response that they would adjust the staking changes. 

So far, the official Twitter of the exchange has not seen any posts with adjustments, so we wait. But it's funny; the community has booed in one voice and repulsed their rights to the rewards  :D 

⚽️: Telegram and Twitter!