Thursday, February 8, 2024
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The team will be taking a break for the Lunar New Year, so our daily newsletter, as well as our other publications, will be put on hold starting from 9th February. However, do expect us in your inbox again on 14th February. Have a good weekend, and thank you for your support! | | Are you caught up in the ERC-404 hype?
It's only February and we already have another airdrop coming soon.
It's none other than Wormhole! In today's news:
Read on! | | 24h Hot Searches Worldwide 🔥 | | Which Countries & Markets Have Ethereum ETFs? | | Ethereum spot & futures ETFs are incorporated in 13 countries worldwide and traded in 7 geographical markets.
Europe is currently the leading Ethereum ETF market with 81% market share, followed by Canada with 16% market share. | |
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| Into the wormhole 🕳️ Another long-awaited airdrop announcement!
Wormhole, one of the most popular cross-chain protocols for accessing the Solana ecosystem, has announced the launch of its native token with the simple ticker of 'W'.
In their latest article, the team highlighted that W will have a maximum supply of 10B and an initial circulating supply of 1.8B tokens.
Additionally, 82% of the token supply will be locked and slowly released over the course of 4 years.
However, what's more interesting is that the token supply will be allocated to six distinct segments - guardian nodes, community and launch, ecosystem and incubation, core contributors, strategic network participants, and the foundation treasury.
Under the 'community and launch' category, the Wormhole team has allocated 17% of the token supply to be airdropped to eligible wallets, where 11% will be unlocked immediately during the token generation event (TGE).
In anticipation of the upcoming airdrop, the points and pre-launch trading platform Whales Market has already teased their upcoming 'W' pre-markets.
Editor's Take:
Based on Wormhole's tokenomics, it would seem that this would be another big airdrop for the Solana community based on the share of the total token supply alone. Previously, Jupiter set aside 10% of their total supply, equivalent to 1 billion tokens for their airdrop. As such, it will be interesting to see how the tokens will be distributed, which has not been announced thus far. | | | UTXOs and the account-based model are two of the most common book-keeping methods used by blockchains. Learn about how they work and their differences in this video! | | | Frax joins the points meta ⛓️ Frax Finance has released more details regarding the launch of their upcoming Layer-2, known as Fraxtal, mentioning liquidity rewards, incentives, and an upcoming airdrop snapshot!
In their launch thread on X, the team has introduced a blockspace incentive mechanism called 'Flox', which are block-based rewards distributed to Fraxtal dApps and users based on the network's usage.
Through the Flox algorithm, users and dApps can earn Fraxtal (FXTL) points based on the amount of gas used to interact with any smart contract and convert them into tokens. The Frax team has also highlighted an upcoming airdrop of FXTL points to veFXS stakers, with the snapshot occurring on March 6 with the Flox mechanism going live a week later. While the Fraxtal mainnet and testnet are currently limited to selected entities and partners of Frax, users can access both chains in the next few days.
Since the launch thread was posted, the governance token of the Frax ecosystem, FXS, rose by 4.6% from $9.43 to a daily high of $9.82 but has since retraced the move. | | | Following market cycles, NFT floor prices fluctuate – and with so many collections out there, it can become difficult to keep track of trends for popular collections. To stay on top of things, consider using CoinGecko's NFT Floor Price Tracker or building your own to tailor it to personal preferences. In today's guide, we walk through how to build your own Python-based, interactive NFT floor price tracker powered by NFT data in CoinGecko API. | | | In Other News... Three candidates to launch next on Jupiter. Those projects include Sanctum, a liquid staking service; Sharky, a platform for NFT-backed loans; and deBridge, an infrastructure provider for cross-chain digital asset trading.
Using Farcaster? You can farm for the $DEGEN airdrop by racking up points, which are given out by tipping from other users (every user gets a daily allowance for tipping users).
Crazy crypto bets on Polymarket. From routine to ridiculous, users have staked hundreds of thousands of dollars worth of crypto bets concerning America's biggest sporting event, the Super Bowl.
Another step closer. Ethereum underwent its final test run for the Dencun upgrade, which aims to solve scalability issues, before going live in the next few weeks.
A chance to win UCL final tickets. Mastercard has launched a new NFT-powered soccer trivia game for the 2023/2024 UEFA Champions League tournament, offering fans the chance to win match tickets by testing their league knowledge.
Prometheum, the only U.S.-registered crypto platform, picks Ether as the first digital asset for its crypto custodial services. Ether's unconfirmed classification as a security or commodity makes it an interesting choice, as it might prompt the SEC to make a decision on Ether.
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