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Switzerland-based dYdX Foundation, the supporting entity behind the decentralized crypto exchange dYdX, has requested $30 million from the project’s decentralized autonomous organization (DAO). The requested funds are intended to be allocated for the next three years. This proposal aims to bolster the development and expansion of dYdX into what the Foundation envisions as “the exchange layer of the internet.”

Foundation’s vision and budget breakdown The dYdX Foundation, which provides crucial support in legal, research and development, marketing, and technical assistance for the dYdX crypto trading project, has put forth an ambitious vision for the future. 

Their ultimate goal is to transform dYdX into a pivotal component of the digital exchange landscape. If approved by the DAO’s tokenholders, the funding request would allocate 4% of the current treasury to the Foundation over three years.

Payroll: Approximately 50% of the requested budget would be dedicated to payroll expenses. This funding would ensure the continued growth of the dYdX team, enabling them to drive innovation and maintain the platform’s operational excellence.

Marketing and Growth: A significant portion, 18%, of the funds would be channeled towards marketing and growth initiatives. This allocation underscores the Foundation’s commitment to expanding the user base and enhancing the platform’s reach.

Legal Disbursements: Legal matters account for 14% of the proposed budget. This includes expenses related to compliance, regulatory issues, and any necessary legal support.

Contractors: Around 5.5% of the requested funds would be allocated to contractors, who play a crucial role in the project’s development and operation.

Commitment to responsible money management In a forum post addressing the proposal, the dYdX Foundation emphasized its commitment to responsible financial management, highlighting its focus on “capital preservation” strategies to mitigate risk. To this end, the Foundation diversified its holdings from USDC to treasury bonds in response to the stablecoin de-pegging during a banking crisis in March. While transitioning away from cryptocurrency assets, this move contributed to reduced risk exposure and yielded substantial returns.

Additionally, the Foundation plans to diversify some of the requested funds into fiat currency and stablecoins. Furthermore, they intend to invest in expanding their staking operations, which currently generate staking yield on 2.5 million dYdX tokens. 

The injection of $30 million into their operational budget would comprise 10.5 million DYDX tokens and extend their financial runway beyond 18 months.

Future financial planning and reporting The dYdX Foundation is keen on maintaining transparency and accountability. The Foundation plans to provide regular financial updates to its stakeholders in lieu of annual budget votes. 

This includes issuing an annual report and a semi-annual report detailing the utilization of the funds. Their next budget request is anticipated to come into consideration when they approach the 18-month runway mark, likely in mid to late 2026 based on current projections.

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30.01.2024 - 13:42

Update: 30.01.2024 - 13:42

The dYdX Foundation, which supports decentralized crypto exchange dYdX, has requested a budget of $30 million from the decentralized autonomous organization (DAO) managing the project.

dYdX Foundation Requests a Budget of 30 Million Dollars The funds, planned to be used over the next three years, aim to provide an operational work area at least until mid-2026.

Headquartered in Switzerland, the dYdX Foundation offers legal, R&D, marketing and technical support to the crypto trading project.

The project involves a perpetual futures contract exchange and a private blockchain in the Cosmos and Ethereum ecosystems. The aim of the foundation is to make dYdX the exchange layer of the internet.

While the budget request is significant, if approved by dYdX token holders, the DAO's voters, it would give the Foundation 4% of the DAO's current treasury.

The three-year duration of the budget will also exempt the dYdX Foundation from submitting annual budgets for review and approval, a common practice among other DAOs and foundations.

Approximately half of the requested budget was allocated to payroll, while 18% was allocated to marketing and growth, 14% to various legal payments, and 5.5% to contractors, among other expenses.

The foundation plans to diversify some of the funds raised into fiat and stablecoins and invest in expanding its staking operation, which currently generates staking returns on 2.5 million dYdX tokens.

The $30 million budget, consisting of 10.5 million DYDX tokens, will extend the Foundation's operating period beyond 18 months.

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High-Risk Appetite Evident as PUNDU Meme Coin Raises $100 Million

Pundu, the first meme coin to undergo a fair launch on DAO Maker, has raised over $100 million in just 37 hours.

Of particular significance is the unprecedented $37.6 million raise achieved on Solana, establishing a milestone as the largest on-chain raise in the network’s history. Concurrently, a $60 million influx was observed on the Binance Smart Chain (BSC), solidifying Pundu’s status with the second-largest raise ever witnessed on BSC.

$PUNDU Final Deposits: $97.6M ????

On BSC: $60M deposits ($51M $USDT, 8M $DAO )
On Solana: $37,6M (212,404 $SOL)

Starting refunds: BE PATIENT

Solana can only send SOL to 20 wallets per TX and we have over 20k contributions ????

It will take time for our team to process all pic.twitter.com/2GVIwyPnCZ

— DAO Maker (@daomaker) March 23, 2024

Pundu’s journey to this milestone has been nothing short of extraordinary. Born out of a vision to redefine the meme coin narrative, Pundu is the brainchild of visionary developers led by 0xWaynee, with invaluable insights from esteemed advisors, including experts from Gotbit and renowned meme-focused KOLs.

Unlike traditional meme coins, Pundu distinguishes itself as the first meme coin to undergo a fair launch on DAO Maker, embracing transparency and community-driven principles from its inception. As the saying goes, “Pandas are sloths, just better,” encapsulating Pundu’s ethos of combining the playful spirit of meme culture with a commitment to legitimacy and innovation.

At its core, Pundu is more than just a token; it’s a bold experiment to challenge conventional notions of value and legitimacy in the crypto space. With an approximate Liquidity Pool of $15 million USD at launch, Pundu aims to set a new standard for fair launch projects, demonstrating that the true essence of crypto extends beyond mere speculation to meaningful utility and community engagement.

As we celebrate this monumental achievement, Pundu invites the entire Web3 community to join us on this journey of exploration and innovation. With a focus on transparency, innovation, and community engagement, Pundu seeks to demonstrate the true potential of decentralized finance in driving positive change.

Contact: DAO Maker Email: [email protected] Disclaimer: This is a Press Release provided by a third party who is responsible for the content. Please conduct your own research before taking any action based on the content.

Oliver Dale

Editor-in-Chief of Blockonomi and founder of Kooc Media, A UK-Based Online Media Company. Believer in Open-Source Software, Blockchain Technology & a Free and Fair Internet for all. His writing has been quoted by Nasdaq, Dow Jones, Investopedia, The New Yorker, Forbes, Techcrunch & More. Contact [email protected]

Maker DAO Token Experiences Slight Decline Amidst Whale Activity

2024 Coinstore Premiere Brand Conference Has Completed Successfully

Moon Teaser Raises BlockDAG’s Liquidity Target to $100M as DAO Maker’s 50% Price Increase Beats Ethereum Classic Price Drop

Maker bulls exert significant effort to counter the dampening sentiment in the cryptocurrency market, resulting in a 5% price increase for MKR to $2,850.

Bitcoin and most altcoins plunged into negative territory after Monday’s strong performance, which saw Bitcoin climb to $70,000. 

A 3% decline in total market capitalization to $2.5 trillion underscores the growing selling pressure.

Maker Begins LitePSM Upgrade Rollout  Maker Governance has voted to approve the implementation of LitePSM, a high-efficiency upgrade to the PSM.

PSM is a tool to maintain DAI’s peg to the US dollar. It allows users to swap DAI for supported stablecoins like USDC at a 1:1 ratio. This arbitrage mechanism helps stabilize DAI’s price by preventing significant deviations from its target value.

Maker Governance has approved the latest Executive Vote.

→ https://t.co/un2Ux3Cv8b

The changes described below will be available for execution within the Maker Protocol on July 30th, at 20:29 UTC.

🖥️ LITE-PSM-USDC-A Phase 1 Actions

The first phase of the migration from… pic.twitter.com/gSGVv1Ma8X

— Sky (@SkyEcosystem) July 29, 2024

According to Dewiz, a DeFi Engineering Services provider, PSM came to life “during DeFi Summer to tame $ Dai’s rollercoaster.” Critics faulted the system for hogging Dai supply amid massive spikes in gas.

The introduction of LitePSM will see users of the stablecoin Dai slash gas fees, access smoother Dai swaps, and yield more. LitePSM’s main objectives are maintaining the Dai peg the US dollar by minimizing volatility, providing liquidity, and managing the stablecoin’s systemic risk.

Dai is a stablecoin in the MKR ecosystem. It is pegged to the US dollar, allowing investors to access DeFi platforms to facilitate swaps and asset trading. Dai boasts a $5.3 market cap and is the 19th largest cryptocurrency.

MKR Price Targets $3,000 Following Breakout  After MKR price topped out at $3,118 last week, it assumed a downtrend between two slanting trend lines, forming a falling wedge pattern.

With every step taken downwards, volume decreased, suggesting that sellers lost their grip and allowed the bulls to turn things around.

Support at $2,600 allowed fresh liquidity collection, arming MKR price for a strong trend reversal. Traders increased exposure to MKR longs upon breaching the upper trend line, with the stop loss slightly below it.

A 10% increase in price is anticipated, bringing MKR near the $3,000 level. A golden cross pattern formed with the 20-day EMA crossing above the 50-day EMA affirms the ongoing uptrend. The MACD buy signal is another bullish factor when trading MKR this week.

MKR price chart | Tradingview MKR needs to find support above the previous day’s open of $2,825; otherwise, sliding under it could spook traders, who may move quickly to close positions and shift to short the token. 

Such an occurrence may accelerate the correction toward the initial support at $2,700 with the possibility of an extended decline to $2,600.

In the evolving landscape of blockchain technology, Decentralized Autonomous Organizations (DAOs) have emerged as innovative entities that operate without centralized control. DAOs leverage smart contracts on blockchain networks, enabling members to collaborate and govern collectively. This article provides a comprehensive overview of DAOs, their structure, benefits, challenges, and future implications.

What Are DAOs?  A DAO is essentially an organization represented by rules encoded as a computer program, which is transparent, controlled by organization members, and not influenced by a central authority. The core idea behind a DAO is to create a decentralized framework where participants can make decisions collaboratively and autonomously.

It typically operate on blockchain networks, most commonly Ethereum, where smart contracts facilitate and automate governance processes. 

DAOs vs. Traditional Organizations DAOs operate on decentralized governance through blockchain technology. It enables collective decision-making without a central authority. Meanwhile, traditional organizations rely on hierarchical structures with defined leadership and centralized control. This fundamental difference fosters transparency and inclusivity in DAOs, contrasting with the often opaque and top-down decision-making processes of conventional entities.

Traditional Organisations Vs DAOs What Are DAOs Used For? Members of a DAO usually hold governance tokens, which provide them with voting rights on various proposals, such as funding decisions or protocol changes. This token-based governance structure enables a democratic decision-making process, where the power is distributed among all members rather than concentrated in a central figure or board.

The structure of a DAO can vary significantly, but most of them consist of the following components:

1. Smart Contracts: These are self-executing contracts with the terms of the agreement directly written into code. They automate processes and enforce rules without the need for intermediaries.

2. Governance Tokens: Tokens that grant holders the ability to participate in governance decisions. The number of tokens held often correlates with the weight of a member’s vote.

3. Community: The members who participate in the DAO, contributing to decision-making, funding proposals, and governance activities.

4. Treasury: The DAO holds financial resources, usually in cryptocurrencies, which members allocate based on collective decisions.

Benefits of DAOs DAOs offer several advantages that enhance collaboration and innovation in various sectors:

1. Decentralization: One of the primary benefits of DAOs is the elimination of central authorities, allowing for distributed decision-making and reducing the risk of corruption or mismanagement.

2. Transparency: All transactions and decisions made within a DAO are recorded on the blockchain, ensuring transparency and accountability. Members can track how funds are spent and how decisions are made.

3. Global Participation: It allow individuals from around the world to participate in governance, breaking down geographical barriers. This inclusivity promotes diverse perspectives and ideas, enhancing creativity and innovation.

4. Incentivization: Members can be rewarded for their contributions through governance tokens or other incentives. This creates a motivation for active participation, fostering a strong sense of community and ownership.

Challenges Despite their potential, DAOs encounter significant challenges that they must address for continued growth and success.

1. Regulatory Uncertainty: The legal status of DAOs remains ambiguous in many jurisdictions, creating challenges for compliance and regulatory oversight. This uncertainty can hinder mainstream adoption and may expose members to legal risks.

2. Security Vulnerabilities: Smart contracts, while innovative, are susceptible to bugs and vulnerabilities that can lead to significant financial losses. The infamous DAO hack in 2016 highlighted these risks, prompting the need for rigorous security audits and best practices.

3. Governance Issues: While decentralization is a key benefit, it can also lead to governance challenges, such as decision-making paralysis or the emergence of power dynamics that mimic traditional hierarchies. Striking a balance between effective governance and decentralization is crucial.

4. Community Engagement: Maintaining active participation within it can be challenging, as members may become disengaged or overwhelmed by the governance process. Effective communication and incentive structures are essential to keep members involved.

The Future The future of DAOs is promising, with potential applications spanning various industries, including finance, supply chain, entertainment, and social impact. As blockchain technology matures, DAOs have the potential to revolutionize the structure and governance of organizations, paving the way for more inclusive and participatory models.

Emerging trends such as the integration of decentralized finance (DeFi) and non-fungible tokens (NFTs) within DAO frameworks may further enhance their capabilities and appeal. Additionally, as regulatory clarity improves, it could gain legitimacy and attract more participants.

In conclusion, DAOs represent a groundbreaking shift in organizational governance, offering a decentralized and transparent approach to collaboration. While challenges remain, the continued development and adoption of it could redefine the way we think about organizations and decision-making in the digital age.

Sky’s move to revert to its previous brand name Maker was rejected in a governance vote dominated by four whales.

In a Nov. 8 announcement, Sky said its governance proposal to rebrand back to Maker was rejected it will continue using the Sky brand as “the primary backend protocol of the ecosystem.”

According to data from the Sky governance forum, only 18.5% of votes, backed by a single whale pledging 14,800 MKR tokens, supported the change to recenter the Maker brand with a limited refresh, while a little over 2.2% of users voted in favor of fully restoring the “Maker” brand to its original form.

Notably, just four other whales controlled the majority of the voting power, contributing a combined 62,452 MKR tokens — or 98% of the total votes — in favor of retaining the Sky brand.

Sky governance voting weight | Source: Sky governance One community member poked fun at the vote results, suggesting that influence within the “community” is concentrated among a few.

According to Sky, the result aligns with the original plan to transition from MKR to SKY as the core brand of the ecosystem. 

The push to rebrand back to Maker came just a month after the Sky rebranding in August which replaced Maker’s governance token MKR with SKY, while the protocol’s stablecoin DAI was renamed to Sky Dollar with the USDS ticker.

The Nov. 4 proposal responded to community concerns and confusion stemming from the rebranding, as Maker co-founder Rune Christensen noted that many users were unclear about the utility of the Sky token.

Previously, some community members had also raised concerns about USDS’s decentralization due to a potential freeze function that would allow its issuer to freeze the token.

On the other hand, those supporting the Sky branding have urged the community to focus on the protocol’s Endgame roadmap proposed by Christensen in 2022 and the broader vision behind the rebrand.

People totally misunderstand the Maker > Sky rebrand and why it is a big success

2 most important things were achieved

1) USDS can now be blacklisted so Maker/Sky can't be seen as a shady mixer in the eyes of regulators

2) Sky probably got an extra $1B+ of liquidity. How?… pic.twitter.com/Es8mSHmXZd

— DMH | Devcon (@DeFi_Made_Here) October 16, 2024 In a Nov. 4 post, Framework Ventures co-founder Vance Spencer said that Sky’s rebrand will support the protocol’s growth with new offerings that include plans to launch decentralized and regulatory-compliant stablecoins, integrate with platforms like Aave, and roll out new features on Solana and Ethereum Layer 2.

Spencer added that the project’s timing and limited exchange support have hindered a full-scale launch but expressed confidence in its long-term vision as he believes “there is a ton of value to be unearthed by following the Endgame roadmap.”

Nevertheless, the community seems to have responded positively to the news as both MKR and SKY were up over 3% when writing.

The Ethereum network stands as a revolutionary innovation in the realm of blockchain technology. It serves as a robust platform for building and deploying decentralized applications (dApps), fueling the growth of decentralized finance (DeFi) and transforming the way we interact with financial services. However, with its widespread adoption and increasing popularity, Ethereum has faced challenges of scalability and high transaction fees, leading to the development of Layer 2 scaling solutions to enhance its capabilities.

The Ethereum blockchain hums with innovation, birthing a new breed of digital assets known as ERC-20 tokens. These versatile gems unlock a treasure trove of possibilities, from voting rights in decentralized communities to fueling innovative applications and even representing virtual currencies. 

ERC-20 tokens are standardized building blocks on the Ethereum network. They adhere to a specific set of rules, ensuring seamless interaction and divisibility, making them perfect for trading and diverse applications. Think of them as digital coins, each with its unique identity and purpose, ready to be exchanged, used, and explored.

Whether you’re a seasoned crypto trader or a curious newcomer, navigating the thrilling world of ERC-20 trading can be challenging. This comprehensive guide will equip you with the knowledge and tools to confidently buy, sell, and trade these digital assets on the Ethereum network. 

Some of the major and popular ERC-20 Tokens are Tether (USDT), Polygon (MATIC), Chainlink (LINK), Uniswap (UNI), Lido DAO (LIDO), Maker DAO (MKR), amongst many others. 

Features of Ethereum Network Ethereum’s innovative design sets it apart from other networks, paving the way for a decentralized future of finance, applications, and beyond. Distinguished by its unique features and capabilities, it stands as one of the pioneers of Blockchain Technologies with standout features like: 

The Power of Smart Contracts

The Ethereum Virtual Machine (EVM) serves as the core engine that drives the execution of smart contracts on the Ethereum network. These smart contracts are self-executing code that automates various actions and agreements, forming the foundation of dApps and DeFi protocols. EVM compatibility is crucial for deploying and interacting with ERC-20 tokens, the most common token standard on Ethereum.

Unlike static databases, Ethereum boasts the groundbreaking ability to execute self-enforcing agreements through smart contracts. These programmable pieces of code automate a wide range of tasks, enabling trustless interactions and the creation of innovative applications in diverse sectors.

Layer 1 and Layer 2: Addressing Scalability

The Ethereum mainnet functions as a Layer 1 blockchain, the base layer where all transactions are ultimately settled. To address the scalability bottlenecks on this primary layer, Layer 2 solutions have emerged as a promising approach. These solutions aim to offload a significant portion of transaction processing off-chain, resulting in increased throughput, faster confirmation times, and significantly reduced transaction costs.

A Platform For Innovation

Ethereum isn’t just a cryptocurrency platform; it’s a fertile ground for developers to build revolutionary decentralized applications (dApps). From DeFi protocols automating financial transactions to NFTs unlocking new ownership models, the possibilities are endless.

Gas and Gas Fees: Fueling Transactions

Within the Ethereum network, gas refers to the computational power required to execute transactions and smart contracts. Users pay gas fees to compensate miners for processing their transactions. Gas fees are denominated in ETH, Ethereum’s native cryptocurrency.

Fueling Decentralized Finance (DeFi)

As a breeding ground for DeFi protocols, Ethereum empowers users to take control of their finances. Borrow, lend, invest, and trade without dependence on intermediaries, fostering a more open and inclusive financial system.

Ecosystem And Adoption

Unlike centralized projects, Ethereum thrives on a vibrant and passionate community. Developers, miners, and users participate in its governance and evolution, ensuring its development remains transparent and aligned with the community’s needs. This growing ecosystem includes decentralized exchanges (DEXs), gaming applications, and more. 

Exploring Layer 2 Scaling Solutions

Layer 2 scaling solutions offer a promising pathway to address the scalability challenges faced by the Ethereum mainnet. They operate as secondary layers built on top of the main blockchain, providing alternative mechanisms for transaction processing and data storage.

Here are some common types of Layer 2 solutions:

Sidechains: Independent blockchains that run in parallel with Ethereum, enabling faster and cheaper transactions. Plasma Chains: Blockchains that leverage Ethereum for security and finality, offering scalability benefits through data offloading. Optimistic Rollups: The technology employed by the Ethereum network for token transactions, which bundles multiple transactions off-chain and submits a summary to the mainnet for verification. Beyond Features: What Truly Sets Ethereum Apart? Ethereum’s uniqueness extends beyond its specific features, encompassing its fundamental characteristics and impact on the blockchain landscape.

Network Effect and Ecosystem: Through its early adoption and widespread implementation, Ethereum has established a robust network effect. Developers, projects, and users gravitate towards it, creating a flourishing ecosystem that strengthens its overall value and resilience.

Security and Trust: Built on a Proof-of-Work (PoW) consensus mechanism, Ethereum offers a high level of security and protection against malicious attacks. Its distributed nature further bolsters trust and transparency, minimizing the risk of centralized control.

Flexibility and Adaptability: Ethereum’s design prioritizes flexibility and adaptability. Upgradeability mechanisms allow it to evolve and adopt new features to remain relevant and address emerging challenges in the blockchain space.

Global Impact and Pioneering Spirit: Ethereum has gone beyond being a mere technological advancement; it has ignited a global conversation about decentralization, ownership, and financial autonomy. Its pioneering spirit continues to inspire innovation and shape the future of our digital world.

How To Get Started  on the Ethereum Network for ERC-20 Tokens.

To buy/sell ERC-20 Tokens, you’ll need a crypto wallet. There are several crypto wallets to choose from within the Ethereum network and, popular options include software wallets like MetaMask, Trust Wallet, Coinbase Wallet, Binance WAllet, etc. 

If you are using a desktop computer, you can download Google Chrome and install the MetaMask Wallet Chrome extension. If you prefer using your mobile phone, you can download MetaMask wallet via Google Play or the iOS App Store. 

Just make sure that you are downloading the official Chrome extension and mobile app by visiting MetaMask Wallet’s website.

Once you’ve registered and set up your wallet via the Google Chrome Extension or via the mobile app you downloaded, MetaMask wallet allows users to manage their cryptocurrency wallets and interact with decentralized applications (DApps) to execute transactions on supported blockchain networks directly from their browsers. (Write down your seed phrase on a piece of paper and keep it in a safe place!). 

Now, you’ll need to connect and add Ethereum to your MetaMask wallet. You may refer to MetaMask support page for reference on their website. 

Trading ERC-20 Tokens on the Ethereum Network. In order to ERC-20 token trades on the Ethereum network, you will need to buy ETH as your base currency. You can buy ETH on centralized exchanges such as Binance, copy your wallet address from Metamask, and then send the ETH from Binance to your Metamask wallet. 

You can also purchase ETH directly within the Metamask wallet using traditional payment methods such as credit or debit cards, etc.

Just click on the “Buy/Sell” button within Metamask to open the interface. Here, you can put how much ETH (or any other token) you want to buy in terms of dollar terms, pick your payment method, and then click “Buy”.

Note that to buy crypto directly within Metamask, you will need to provide info such as your country and state. However, it is a straightforward process that only takes a minute.

It’ll only take a couple of minutes at most for your ETH to arrive in your wallet. Once the ETH arrives, you are all set to begin trading ERC-20 tokens on the Ethereum network. So, head over to UniSwap to get started on your trading journey.

How To Trade ERC-20 Tokens On The Ethereum Network Using UniSwap Uniswap is a decentralized exchange (DEX) protocol built on the Ethereum blockchain. It allows users to trade Ethereum-based tokens directly from their wallets without the need for intermediaries or traditional order books. 

Uniswap offers users a simple and straightforward way to buy and sell a wide variety of tokens. Be sure you’re on the  Uniswap website to protect your wallet.

The first step is clicking on the “Launch App” button at the top right corner, as shown in the image below:

The next step is clicking on the connect wallet option on Uniswap at the top right corner, as shown in the image below:

Connect to your preferred wallet as shown below. (In this case, it’s Metamask):

Once connected, switch Metamask to the Ethereum network. (If you’re already on the Ethereum network, you do not need to switch):

After connecting MetaMask to the Ethereum network, go to Uniswap, and then you can start your ERC-20 Tokens on the Ethereum network using UniSwap.

Trading Ethereum Tokens On Uniswap The next step is to select your preferred tokens on the UnsSwap interface and since Uniswap operates on a token to token trading model, click on the “select token” button to select the trading pair you want to trade against. 

For example, if you want to buy USDT using ETH,  select ETH – USDT, enter the amount, then click on “swap” or “trade now” and confirm the transaction in your Metamask wallet. You can view the tokens in your wallet’s asset list.

Buying and Selling ERC-20 Tokens with the Metamask Wallet Ethereum Network users can also buy and sell tokens using the Metamask extension wallet already connected to the Ethereum network. To do this, make sure you’re connected to the Ethereum network and have ETH to swap and pay for gas fees. Then, navigate to the “Swap” button as shown below. This will take you to the Swap interface inside Metamask.

Using the image above as a guide, you can also search for tokens using the name or the contract address, just like on UniSwap. Input the amount of ETH you want to swap, confirm that you have the correct token, and then click “Swap.” Once the transaction is confirmed, the tokens you just bought will be sent to your wallet.

Tracking ERC-20 Token Prices on The Ethereum Network ERC-20 token holders and traders can take advantage of on-chain tools like DeFiLama to gain access to comprehensive market insights for specific tokens. These insights include price data and contract information, empowering users to make well-informed trading decisions based on reliable and up-to-date information.

Dextools is a comprehensive analytic resource for managing digital assets traded on ERC-20 Decentralized Exchanges. It’s a vibrant analytical cryptocurrency resource that provides statistical information on all leading blockchains and crypto projects. 

Among these features, an exceptional one is the charting functionality, which delivers both real-time and historical price data for a wide range of tokens. 

By utilizing these charts, users gain valuable insights into price trends, trading volumes, and other pertinent metrics. This enables them to pinpoint potential entry or exit points for their trades with precision and confidence. For example, let’s assume you’re $ETH for $LIDO, your trading pair is ETH/LIDO.

Note, Trading pairs serve as bridges between currencies. For example, the ETH/LIDOpair allows you to acquire $LIDO tokens using Ethereum (ETH).

Choose the pair that fits your funding situation and trading strategy. Consider using ETH if you already hold it, or fiat currencies if you’re venturing in fresh. 

Let’s track the $LIDO token on Dextools, here’s what we have:

Conclusion Buying, selling, and trading ERC-20 tokens on the Ethereum network can be a thrilling adventure, opening doors to exciting investment opportunities and unlocking the potential of decentralized finance. However,  it demands knowledge, caution, and a well-defined strategy. 

This guide serves as your map and compass, but the ultimate treasure lies in your own learning and exploration. Navigate with confidence, trade responsibly, and remember that the most valuable asset in this journey is your knowledge.

Featured image from CoinMarketCap, chart from Tradingview.com