Golden Web3.0 Daily | Dubai recognizes cryptocurrency as a method of salary payment

DeFi data

1. Total market value of DeFi tokens: US$68.575 billion

2. Transactions on decentralized exchanges in the past 24 hours 3.408 billion US dollars

Data source for decentralized exchange trading volume in the past 24 hours: coingecko

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NFT data

1. Total market value of NFT : US$22.709 billion

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NFT total market value, top ten projects by market value data source: Coinmarketcap

2.24 Hourly NFT transaction volume: 1.572 billion US dollars .cn/7281951_watermarknone.png" title="7281951" alt="eLKkWFRIFNv1bWgA0KXExo91yAmqUjPnuyspE7Eo.png">

3. Top NFTs in 24 hours

Top 10 NFTs with the highest sales growth in 24 hours Data source: NFTGO

Headline

Dubai Court Recognizes Cryptocurrency as a Valid Method of Salary Payment

The UAE has made a significant update to its judicial approach to cryptocurrency, with the Dubai Court of First Instance recognizing that wages paid in cryptocurrency are valid under employment contracts. UAE law firm NeosLegal Irina Heaver, partner at , explained that the ruling in Case No. 1739 of 2024 represents a departure from the court’s earlier position in 2023, when a similar claim was dismissed due to the lack of an accurate valuation for the cryptocurrencies involved. Heaver believes this demonstrates a “progressive approach” to integrating digital currencies into the country’s legal and economic framework. The case Heaver recently cited involved an employee who filed a lawsuit against his employer for failing to pay his wages, wrongful termination compensation, and other benefits. The case is unique in that the employee’s employment contract not only includes traditional fiat currency wages, but also stipulates that 5,250 EcoWatt tokens should be paid monthly as part of the salary. The core of the dispute is that the employer In 2023, the court recognized the validity of the EcoWatt tokens in this contract for the first time, but because the employees failed to provide a clear method to convert the tokens into fiat currency, Therefore, the court did not force employers to pay in cryptocurrency. However, in 2024, the court "took an important step" on this issue. It ruled in favor of employees and explicitly required employers to pay in accordance with the labor contract. The ruling not only reflects the courts’ growing acceptance of cryptocurrencies in employment contracts, but also highlights the courts’ growing interest in the Web3 economy. Recognition of the transformative nature of financial transactions.

NFT Hotspots

1. Trump has made more than 7 million US dollars

Golden Finance reported that according to personal financial disclosures obtained by the ethics watchdog "Citizen Morality", Trump declared that he held assets worth $100 In addition, Trump revealed that he earned more than $7.15 million from three NFT collections, including the "Mugshot" project for criminal prosecution and two separate Donald Trump Trading Card Collection.

DeFi hot spots

1. Ethereum The key support area is between $2,300 and $2,380. According to Into TheBlock data, there are about 1.62 million addresses at $2,300. More than 50 million ETH were purchased between $1,000 and $2,380, so if Ethereum continues to trend downward, there is key support for the coin price in the above price range.

2.Worldcoin cooperates with Malaysia MIMOS

Golden Finance reported that Malaysia's official applied research and development agency MIMOS Berhad has signed a As part of the MOU, Worldcoin’s new operations in Malaysia will provide individuals with the ability to authenticate their identities using state-of-the-art iris imaging technology developed by TFH for the Worldcoin project. Chance.

3. TON network currently has 649.9 million TON staked

4. EtherFi, Renzo and AltLayer have sold about one-third of the $5 million in airdropped tokens

Golden Finance reported that according to Lookonchain monitoring, EtherFi, Renzo and AltLayer had previously airdropped tokens worth about $5 million to EigenLabs employees. EtherFi airdropped 10,491 ETHFI to 44 addresses each, totaling 461,600 ETHFI (peak price of $3.69 million), of which 31.2% of ETHFI has been sold. AltLayer airdropped 46,512 ALT to 37 addresses each, totaling 1.72 million ALT (peaked at $1.16 million), of which 32.4% of ALT has been sold. Renzo airdropped 66,667 REZ to 27 addresses each, totaling 1.8 million REZ (peaked at $500,000), of which 33.6% of REZ has been sold .

5.LI.FI integrates cross-chain transaction protocol THORChain

Golden Finance reported that the cross-chain bridge protocol LI.FI integrated the decentralized cross-chain transaction protocol THOR Chain to achieve seamless exchange of Bitcoin on the EVM chain. In addition, THOR Chain has been added to the cross-chain supported by LI.FI, and provides users with the best rates for token swaps and cross-chain transfers. LI.FI also plans to expand support for Bitcoin L2 solutions. /p>

6.Symbiotic will launch its mainnet in September, Frax, EtherFi, etc. 14 networks join shared security framework

On August 16, Symbiotic, a provider of re-staking infrastructure, announced that the first 14 networks have joined its shared Security Framework Ecosystem, including Frax, EtherFi, RedStone, Arrakis, Stride, Capx, Primev, Router, Pragma, Hinkal, Inference Labs, Ditto, RollChains, and Leaf. These projects will use Symbiotic's technology to enhance the security and decentralization of their respective fields, covering DeFi, oracles, cross-chain bridging, AI resource matching, MEV optimization, privacy solutions and many other aspects. In addition, Symbiotic plans to The mainnet was launched in September, and the addition of partners this time shows the market's recognition of its shared security solution. Earlier news, the re-staking agreement Symbiotic completed a $5.8 million seed round of financing, led by Paradigm and CyberFund.

Game Hotspots

1. Web3 game platform GAMEE completes a new round of financing, TON Ventures participates in the investment< /strong>

Golden Finance reported that GAMEE, a subsidiary of Web3 gaming platform and Animoca Brands, announced the completion of a new round of financing, with TON Ventures participating. The new funds will be used for Supported by GAMEE's WAT Coin ecosystem (including the WatBird Mini App project). It is reported that GAMEE will further integrate TON-based digital assets (such as tokens and NFTs supported by TON) into GAMEE's Telegram Mini App to enhance user engagement.

2. Epic Games: Expected to have 100 million users by the end of the year

Golden Finance reported that according to market news, Epic Games The iOS store is launching in Europe and the Android store is launching globally. Epic Games expects to have 100 million users by the end of the year. iOS users outside the EU will not be able to access the store.

Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and is not intended as actual investment advice. Please establish correct investment concepts and enhance risk awareness.