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Things seem to be looking up as we see some nice recoveries across the market, but stay on your toes! In today's news:
Shifting angles ✨ From zero to one 📸
Read on! | | 24h Hot Searches Worldwide 🔥 | | Top Blockchains by Market Share & Trading Volume | | Ethereum remained the largest blockchain by trading volume in 2024 Q1, but has been challenged by the likes of Solana and Arbitrum.
Ethereum was briefly surpassed by Arbitrum in January and February 2024, with trading volume bolstered by Arbitrum's incentive program. | | | Shifting angles ✨ The Mirror team is leaving the Web3 publishing game.
Paragraph, a direct competitor to Mirror, has announced the acquisition of their rival's platform.
According to Paragraph's founder, Colin Armstrong, both platforms will eventually be merged into a unified product. However, this is not the end for the Mirror team, as they will now be able to pivot to a new project entirely.
Operating as a separate entity, the founding team is now turning their attention towards building a new decentralized social media project known as 'Kiosk,'
Kiosk will be built on Farcaster's decentralized social network and function similarly to X as a micro-blogging platform for the crypto community. Using Kiosk, crypto users can easily discover and trade crypto assets and NFTs, as well as observe the behaviour and habits of other users.
Editor's Take:
Unlike protocols that have DAOs to coordinate the acquisition process, which could often get messy, the merger between Mirror and Paragraph was actually suggested by a key investor in both projects. Ultimately, there was a mutual understanding between all the parties involved, and with the recent $10M that Kiosk just raised, it seems that this is one of those rare times that a merger between crypto projects has turned out so well. | | | Ethereum is a permissionless, decentralized network. So how are changes to the protocol decided on? Find out in this video. | | | From zero to one 📸 After months of speculation and waiting, LayerZero Labs, the entity behind the LayerZero protocol, has apparently taken the first snapshot for a potential airdrop of its native ZRO token.
According to a cryptic post by the team, the snapshot was taken right before May 2nd, 2024, with the words, "More information coming soon,"
The timing of the snapshot is not unusual and is in line with an earlier statement from the CEO of LayerZer, Bryan Pellegrino, mentioning that the snapshot will be taken no later than the end of June 2024. Since the snapshot was taken, the Stargate bridge, which is built on top of the LayerZero protocol, has seen outflows of close to $5.8M as of the time of writing, according to data from DeFiLlama.
Based on the wording in LayerZero's recent post, most users are speculating that this is merely the first snapshot and that multiple rounds of airdrops will follow. | | | Carbon Browser is a fast decentralized web3 browser with better privacy and an integrated multi-chain wallet with cross-chain swaps. | | | | Learn about Polkadot 2.0 and how Agile Coretime will introduce a more flexible system for allocating blockspace on the Layer 0 chain. | | | In Other News... Bridging the Gap. PayPal expands crypto offerings with Moonpay integration, giving millions of users access to over 100 cryptocurrencies.
What Comes Around Goes Around. FBI arrests man for running alleged $43 million crypto trading ponzi scheme.
Solana Liquid Staking. Jito price jumps after topping Solana DeFi protocols with $1B total value locked.
FTX Executive Lavish Spending Continues. Patrick Gruhn, the former head of FTX Europe, recently spent $1.5 million to acquire a gold watch found on the corpse of a victim of the Titanic, according to a report in The Wall Street Journal.
To Appease The Community. EIGEN airdrop recipients will get at least 100 EIGEN, worth roughly $1,000, following airdrop backlash.
The Battle of the Domains. Ethereum Name Service (ENS) petitioned Unstoppable Domains' patent over blockchain naming services with the United States Patent and Trademark Office, claiming that they have used ENS's open-source technology in the patent.
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