Bitcoin wallet Chivo surpassed banks in El Salvador by the number of users in 3 weeks

Bitcoin wallet Chivo surpassed banks in El Salvador by the number of users in 3 weeks

2.1 million people in El Salvador are already using the Chivo cryptocurrency wallet, according to the country’s president Nayib Bukele. According to official figures, El Salvador has a population of about 6.5 million people.

“After only three weeks, Chivo already has more users than any Salvadoran bank,” he wrote.

Venus Project developers reversed the vote to regain control of the project

The developers of the Venus Project cryptocurrency protocol on the Binance Smart Chain blockchain have regained control of the project after a vote decided to hand it over to an outside team. Venus Project is based on the code base of the Compound and MakerDAO projects of the Ethereum blockchain and uses a decentralized governance model in which token holders vote on changes to the protocol.

Today’s vote approved a proposal that would see the authority to direct the development of the protocol and allocate funding go to a group calling itself Team Bravo. Voting organizers pledged to “increase and maintain the high price of XVS for investors.”

The proposal garnered 1.29 million votes in favor and 1.19 million against. The distribution of proponents and opponents was 16 addresses and 39, respectively.

The ballot organizers also asked for 1.9 million XVS ($60.8 million) in funding to be distributed over five years, and proponents of the proposal were promised a reward of 900,000 XVS ($29 million).

“It’s an interesting proposal. They directly bribed the participants who voted for them,” notes Compound founder Robert Leshner.
Shortly after the offer was approved, the address used to launch the Venus Project contract canceled the vote, thus demonstrating that the creators of the protocol ret

The president expects that over time, Chivo’s user base will surpass the clientele of all banks in El Salvador combined.

The launch of the Chivo Wallet occurred in early September, along with the entry into force of a law recognizing bitcoin as a means of payment. The wallet allows you to send and receive bitcoin and dollar payments from anywhere and is available for Android and iOS devices.

Bukele emphasized that these residents are specifically “actively using” the wallet, not just downloading it. Each Salvadoran who installs Chivo is entitled to a $30 reward. A recent Sherlock Communications survey found that more than half of citizens have no idea about bitcoin.

Among other things, Buquele places state reserves in bitcoin and has purchased 700 BTC ($31 million) to date. In El Salvador, meanwhile, there have been protests by citizens who do not share the president’s policy and do not welcome the adoption of bitcoin.

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