ChainCatcher news, Sky co-founder Rune Christensen stated that more effort will be devoted to fully migrating MKR to SKY by 2025, partly to help eliminate the confusion surrounding MKR and SKY. Updates and more details regarding the migration and conversion of MKR to SKY will be announced in 2025.Christensen stated that this will not put MKR holders' funds at risk, "The upcoming new proposal will require migration in order to gain usability from the token. Our goal is to ensure that both CoinGecko and exchanges only support SKY, while MKR will simply be a traditional wrapper representing each MKR=24,000 SKY."Sky also plans to launch more subDAOs, known as Stars, in 2025. Christensen mentioned that the changes in SKY's tokenomics (making it deflationary) open the door for a new Star strategy, under which more subDAOs can be launched and have operational freedom.

ChainCatcher message, Vitalik responded to comments about "the level of governance in Zuzalu, Apecoin governance forum, and Arbitrum DAO" by stating: "Technically, any currency is permissioned: you need to obtain permission from an existing holder to become a holder.This indicates that there is actually a continuous trade-off between the permission levels of Apecoin and ZuVillage, and we can imagine a structure in between: becoming a member requires obtaining permission from multiple existing members, but it is still very open.For example, you can imagine a mechanism in the style of secondary financing, weighted by existing member points, to accumulate membership points. This is what I hope to see in OP Citizen House, Zuzalu community, and other DAOs that are experimenting. Formalizing and measuring membership is upstream of any formal governance, and it would be really cool if there were more ways to achieve highly decentralized and permissionless formal membership, but not just through token holding."

ChainCatcher news, according to Cointelegraph, the UAE free trade zone RAK Digital Assets Oasis (RAK DAO) plans to introduce a legal framework for decentralized autonomous organizations (DAOs).Law firm NeosLegal and RAK DAO stated that the new system will be introduced and discussed on October 25. NeosLegal partner Irina Heaver mentioned that the framework is expected to clarify how DAOs can remain legally compliant, and she believes this will have a significant impact on decentralized governance in the UAE and the broader Web3 ecosystem.

ChainCatcher news, according to Coindesk, the Law Commission of England and Wales has stated that decentralized autonomous organizations (DAOs) currently do not require specific legislation, as they appear to be governed by existing laws.The independent statutory body wrote in a paper published on Thursday that if a DAO engages in "specific activities" related to "specific investments," it may fall under the jurisdiction of the Financial Services and Markets Act 2000. When governance tokens resemble shares, granting voting rights and issued in exchange for investments in the DAO, they are considered specific investments.

ChainCatcher news, Hong Kong Legislative Council member Wu Jietzhuang stated that to promote the development of Web3 and virtual assets in Hong Kong, the Legislative Council has recently established a subcommittee on Web3 and virtual asset development. It is now seeking opinions from the global industry to propose policy recommendations and topics for future industry development discussions. It is proposed that detailed research will be conducted and summarized, and presented to the government through the Legislative Council platform. The global industry can provide feedback on the following topics to help Hong Kong become a global Web3 hub:Web3 Policy Aspects:How to balance and promote the foundational technologies, legal, and regulatory frameworks of Web3;How to collaborate with the country to promote Hong Kong as a Web3 hub connecting internationally;The integrated development of artificial intelligence and Web3 technologies and the improvement of the regulatory framework for artificial intelligence;Policy and regulatory recommendations for decentralized autonomous organizations (DAOs) to support and regulate the healthy development of DAOs in Hong Kong;How to cultivate and attract talent in Web3 technology and financial innovation;Virtual Asset Aspects:Recommendations for measures that benefit the development of the virtual asset industry;How to strengthen protections for virtual asset investors and consumers, enhancing market confidence;Potential application scenarios and risks of stablecoins in Hong Kong, recommending a regulatory framework that ensures financial stability without stifling innovation;Exploring the demand for professional custody services arising from the rise of virtual assets in Hong Kong, and researching corresponding custody methods and regulatory measures.

ChainCatcher news, according to Fortune magazine, last Thursday, Wyoming Governor Mark Gordon signed the Decentralized Unincorporated Nonprofit Association Act, a landmark legislation that establishes a framework for recognizing DAOs (Decentralized Autonomous Organizations) as legal entities.

ChainCatcher news, the Snapshot voting results show that the Convex community rejected a proposal to "fund 30 million CRV to multiple SubDAOs through the Curve community fund" with a 93.67% opposition rate.Previously, WormholeOracle initiated this proposal in the Curve governance forum, suggesting to provide funding of 30 million CRV to several Curve SubDAOs, including Curve Research (10 million CRV), Curve Risk (5 million CRV), Curve Analytics (5 million CRV), and Dev Tools (10 million CRV) through the Curve community fund.

ChainCatcher news, the Curve community has initiated a new proposal to create multiple CRV vests through the Curve Community Fund to fund Curve Research (10 million CRV), Curve Risk (5 million CRV), Curve Analytics (5 million CRV), and Dev Tools (10 million CRV) for several Curve SubDAOs, totaling 30 million CRV. These vests will provide funding for the subDAOs for a period of 2 years, from Q1 2024 to Q1 2026.It is reported that these CRV will vest linearly from the Community Fund over 365 days, and the DAO reserves the right to cancel any remaining vesting at any time. If all funds are not used by Q1 2026, the subDAOs agree to return the remaining funds to the Curve Community Fund or transfer the remaining funds to the next round, pending DAO approval.

ChainCatcher news, BitMEX founder Arthur Hayes stated that future AI will self-organize through decentralized autonomous organizations (DAOs). He believes that AI will no longer rely on traditional corporate structures but will choose public blockchains for deployment and operation. He used a hypothetical AI called "Poet AI" as an example to explain how to deploy DAOs and tokens on public blockchains (such as Ethereum) through smart contracts.Hayes also pointed out that the maturity of the debt market for AI DAOs will determine the speed of their economic influence growth. He believes that because public blockchains can continuously monitor AI DAOs to ensure compliance with debt contracts and automatically transfer digital assets and/or ownership using smart contracts in the event of non-payment, creditors can conduct ongoing, accurate audits of AI DAO accounts, which will give investors confidence to invest in DAOs that meet their financial standards.In addition, Hayes predicted that with the surge of DAOs, Ethereum transactions will grow exponentially, leading to a spike in ETH prices. At the same time, decentralized exchanges (DEXs) will become natural monopolists, as they will be the first truly global trading venues where anyone with an internet connection or AI can trade. He believes that since AI cannot be forcibly controlled by nations, trading platforms for all forms of DAO tokens may become natural monopolists. Identifying these DEXs and purchasing their governance tokens will yield significant profits.

ChainCatcher news, according to the Israeli government website, Israel will establish a special team to study the regulation of DAOs and will consult the public on this matter before September.It is reported that the team will be led by the Chief Economist of the Ministry of Finance and relevant officials from the Ministry of Justice. They will review and consult on the activities and types of DAOs, as well as the decision-making processes within DAOs, and explore the use of tokens in DAO organizations and the associated risks to provide regulatory clarity.

ChainCatcher news, Arbitrum has distributed 4 million initial ARB allocations to the second batch of DAOs in the Arbitrum ecosystem.Previously, ARB indicated that 1.13% of the initial total supply would be airdropped to eligible DAO organizations in the Arbitrum ecosystem. In April of this year, Arbitrum began the full distribution of initial ARB allocations to DAOs in the ecosystem, with the first batch being distributed to DAOs that had confirmed the results of the test distribution. (source link)

ChainCatcher message, on-chain data shows that Arbitrum has begun to distribute the initial ARB allocation to DAOs, with the first batch being distributed to DAOs that have confirmed the results of the test distribution.According to on-chain data showing, 90,148,325 ARB were distributed from the Arbitrum: DAO Airdrop Distributor address to 125 DAO wallets three hours ago, with Treasure DAO receiving the largest amount, totaling 8 million ARB.Previous reports indicated that this token distribution is not a grant, but rather the initial token distribution of 1.13% of Arbitrum. On March 16, the Arbitrum Foundation unlocked a total of 112,834,000 ARB, allocated to projects with DAOs and community treasuries. (Source link)

ChainCatcher News: California Assemblymember Matt Haney has drafted a bill aimed at providing a legal framework to recognize DAOs as acceptable business entities. If passed, the bill would allow DAOs to register and pay taxes in California, while also providing better protections for Californians participating in the Web3 economy. The bill has received support from a16z and the Crypto Innovation Council. (Source link)

ChainCatcher message, Arbitrum tweeted that it will distribute initial token allocations to eligible DAOs in the ecosystem.Currently, most DAOs have publicly confirmed their target addresses for receiving the ARB airdrop. Today, testing will begin on transactions that publicly provide their treasury wallet, with full distribution planned for later this week, while continuing to wait for some DAOs to provide addresses. This token distribution is not from the Arbitrum DAO treasury, nor from the foundation wallet, but is part of the initial airdrop. (source link)